Terence Michael has been developing, producing, and delivering story content, from film to television, podcasting to writing, over the course of ownership in three separate production companies covering most of the major studios, networks, and agencies in Hollywood.
He is the author of 3 books including one of the BEST Bitcoin books out there "Proof of Money".
He has now produced feature films distributed by studios such as Sony, Universal, MGM, Lionsgate, and HBO; and executive produced or showrun television shows airing on networks such as NBC, Fox, MTV, VH1, Showtime, Lifetime, Discovery+, HGTV, TLC, Spike, Esquire, Syfy, Travel Channel, Bravo, Hulu, HGTV, TNT/TBS, and A&E. Terence Michael, a Hollywood producer and author, discusses his transition from the film industry to Bitcoin and the impact it has had on his life.
Takeaways
- Bitcoin can serve as a preservation vehicle for individuals in industries with volatile income, such as Hollywood.
- Bitcoin mining is environmentally friendly and can help reduce methane emissions by utilizing wasted energy sources.
- Bitcoin promotes peace and freedom by providing individuals with control over their money and financial choices.
- Central bank digital currencies (CBDCs) pose risks to privacy, freedom, and financial sovereignty.
- Education and awareness are crucial in promoting Bitcoin adoption and dispelling misconceptions. Writing a book about Bitcoin can have a profound impact on readers, even if it doesn't achieve mainstream success.
- The Bitcoin Advisor is a group dedicated to educating people about self-custody of Bitcoin and helping them secure their assets.
- The debate between KYC and no KYC in the Bitcoin space depends on individual preferences and risk tolerance.
- Creating movies that incorporate Bitcoin narratives can help introduce the concept to a wider audience.
- Giving Bitcoin as a gift can be a fun and educational way to introduce others to the technology.
- Starting a book club to discuss Bitcoin-related books can foster learning and engagement within the community.
(00:49) Transition from Hollywood to Bitcoin
(03:19) Bitcoin as a Preservation Vehicle
(07:07) Bitcoin's Impact on Time and Freedom
(10:26) Challenges of Bitcoin Adoption in Hollywood
(17:25) Bitcoin Mining and its Environmental Benefits
(25:13) Bitcoin as a Tool for Peace
(30:11) The Dangers of Central Bank Digital Currencies (CBDCs)
(38:39) Reception of the Book and Personal Insights
(41:12) Writing and Publishing a Book
(43:20) The Bitcoin Advisor
(45:22) KYC vs. No KYC
(48:30) Creating Bitcoin-related Movies
(52:04) Encouraging Bitcoin Adoption
(57:26) Giving Bitcoin as a Gift
(59:21) Book Club and Discussion
🩷 FOLLOW OUR GUEST
X - TWITTER: https://twitter.com/proofofmoney
INSTAGRAM: https://www.instagram.com/produceyourself/
WEBSITE: https://terencemichael.com/
❤️ SUBSCRIBE to the SEXIEST Newsletter on Earth
https://djvalerieblove.com/sexynewsletter
🧡 SUPPORT THE SHOW WITH TIPS - Thank You!
https://getalby.com/p/djvalerie
https://geyser.fund/project/bitcoinforpeace
💛 SUBSCRIBE TO THE PODCAST
FOUNTAIN.FM: https://fountain.fm/show/761jhxFiibErm7eZZdlt
APPLE: https://podcasts.apple.com/us/podcast/bitcoin-for-peace-dj-valerie-b-love-friends/id1441540841
SPOTIFY: https://open.spotify.com/show/6kZfzFZ3wKmWiljDajrJZ5?si=a9433473b06f464b
YOUTUBE: https://www.youtube.com/@djvalerieblove
💚 FOLLOW DJ Valerie
X - TWITTER: https://twitter.com/djvalerieblove
FACEBOOK: https://www.facebook.com/djValerieBLove
INSTAGRAM: https://www.instagram.com/djvalerieblove/
LINKEDIN: https://www.linkedin.com/in/dj-valerie-b-love/
NOSTR: npub184cwc849sejs5pr566zcg4pqn53zzk85q70gmwqx7qt77h3suansvet30s
🩵 DJ VALERIE’S FAVORITE TOOLS
COLDCARD Discount 5%- Promo Code “CKBTC” store.coinkite.com/promo/PEACE
SHAMORY - Have Fun Learn Bitcoin 10% Discount shamory.com/love
REAL MUSHROOMS - 25% Off 1st order https://shop.realmushrooms.com/?ref=1232
💙 DJ VALERIE’S FAVORITE EVENTS
BITCOIN ATLANTIS - Portugal - Get 10% Off with code “DJVLOVE” https://bitcoinatlantis.com/
BIT BLOCK BOOM Dallas - https://bitblockboom.com Code “love”
💜 BUY or TRADE BITCOIN
HODL HODL no KYC https://hodlhodl.com/join/NMKLQ
SWAN - Get $10 FREE Bitcoin - Dollar Cost Average - https://swanbitcoin.com/djvalerie
Hey. Aloha, love tribe. What's up? I have somebody here who you've you're like the Swiss army knife of creativity. He is a Hollywood producer, an author, an investor, podcaster, and a wonderful friend. This is Terence Michael. Welcome, Terence.
[00:00:47] Unknown:
Thank you. Thanks, Val, for having me.
[00:00:50] Unknown:
It's totally great to have you here. I'm, just before we hit record, I was telling you I'm on chapter 19 of proof of money, which is my new favorite Bitcoin book, for orange peeling people. Let's talk before we talk about the book, like, So I wanna hear I want the audience to understand who you are, and, I mean, I'm looking at your your history here. You've made films for Sony, Universal, MGM. You're a producer. Like, how did you go from being this ultra creative, person into getting into Bitcoin?
[00:01:24] Unknown:
So in in a nutshell, I've spent most of my life in Hollywood Mhmm. And from Hollywood moving into real estate. Real estate in hindsight being The preservation vehicle for all of the money and hard work that I did in Hollywood. I never wanted to be a real estate professional. I don't really Care to be a landlord and deal with toilets, trash, and tenants, but I convinced myself that I love all of that. And I know you and I actually share similar backgrounds in those worlds, dealing with investors and syndicates and All the stuff that I never ever formally studied, you know, academically, I studied business, but I didn't know, am I gonna Sell vacuum cleaners. You know, you gotta do something with a business degree. Yeah. And I've always always loved story. Always loved Story. And I think as human beings, we all love story. We all love the hero's journey. Yeah. And I thought, how can I combine the 2? So Hollywood, you know, came knocking, and with my business experience, I just, set up a production company.
Literally still in college. So Wow. I think I got lucky or I was in the right place at the right time or maybe it was a combination of hard work, but I started producing big studio movies the minute I Stepped out of of college. Like, I was right out, and there I was doing big studio movies. So my career sort of went backwards Because I didn't work my way up as, like, a PA and a coordinator and all that stuff. I just started out as a producer. I raised the money, And I said, let me figure this out. So I used my business skills, but I wanted to know how to tell story. I wanted to know how to be creative. Because of that, I Got burned out really quickly. I semi retired at age 30 and just skateboarded and hung around the beach. And And after 2 weeks of that, I was like this you know, there there's more to life, and retirement isn't what everyone says it is. Right? So I've I've since changed my definition of retirement, and that's really just Doing what you wanna do, when you wanna do it, for who you wanna do it, etcetera, you know. And I never thought about what my purpose was. I never thought about How what what is life supposed to look like to be fulfilling?
But I knew that if I wanted to have choices and I wanted to have freedom And peace that I needed to somehow keep the money that I had made, because I saw what had happened to my friends. In in Hollywood, it happens to everybody. It's everyone makes a lot of money, but they also lose it very fast. And we also go through these long dry spells. You know, recently, we've had a strike. There's also these hiatuses. Shows get canceled. You know, movies don't get sequels. And so it's like sort of easy come, easy go. In Hollywood, you care less who you are or what you've done, as as long as the next person comes into town, great. That's what we wanna deal with.
So, so I went into real estate, which made sense to me. And because it was very tangible, and I could work with my hands, and I could see something productive right away, It was helpful in Hollywood. So many things are cerebral and conceptual, and you're constantly pitching. There's so much r and d. So many scripts and and projects you develop Never get made, and it's very disheartening. Man, the average project in Hollywood, if it gets made, takes 7 years to get made. That's just the average. It's It's, you know, from the time you find the book, to get the rights, going through all these drafts, finally gets made, you know. And even if you I started to make a movie today, it's gonna be Two two and a half years before you see it because of postproduction and marketing and finding the right distribution schedule, who you're up against, what weekend, blah blah blah. So real estate, I fell in love with that.
Was mining fiat without realizing that's what I was doing, you know, making as much US dollars as I can, and nothing against that. I I love to work hard. I love to try to work smart. I love to optimize My skills, you know, how can I leverage what I know to do more? And that's why I started writing. I started writing about everything that I learned. My first book was writing about what I learned in Hollywood. My 2nd book was writing about what I learned in real estate, and then my 3rd book about what I learned in Bitcoin. But I found Bitcoin because, Again, having found success early in life and then wondering what I wanted to do with it afterwards, I started to think about time.
And time has always been really, interesting to me, an interesting theme and subject and, you know, be because, of course, our time is limited on this Earth. How much time do we have? How can we extend time? Or how do we just improve our time? And, you know, you start to put things In the the life is too short bucket. Mhmm. Right? That's kinda like an easy hack, for probably a lot of people, but it is for me when whether it's Having decision fatigue, you know. You might notice looking at me and people, you know I don't know. I've been on 20 podcasts now. I always wear the same blue shirt. Now it's not the exact same shirt, but I have a closet full of 20 blue shirts because when I wake up in the morning, I don't wanna use my fresh brain Figuring out what to pick out and what to wear. So it's like I just have a uniform and I just pretty much wear the same thing every day. And so, Bitcoin became that sort of decision and fatigue and that way for me to Really honor my time and think about time in a way that everything else, sort of corrupted my time or took away from my time. Even if it was something I enjoyed, it's just the process of knowing, like, back to Hollywood that I'm gonna have to, you know, run around town and take 30 meetings, just to try to raise some money or try to find distribution.
Or in real estate, you know, how many, you know, bad contractors or day laborers or whatever am I going through? How many intermediaries with the with the brokers and the escrow agents and the realtors and whatnot just to transfer my value from this property to this property, You know, and debasing and diluting 10% due to fees and whatnot. All the things that we kind of know as Bitcoiners, but it's like once I found Bitcoin, I thought, this Is it this is something that can honor my time, help me think about my time in a in a more holistic way, where I really Pay attention to what time means. Because now I'm pulling out a tape measure and saying, okay, 12 inches is 12 inches and no one else is gonna change that. This isn't gonna become 14 inches which is gonna become 18 inches, you know, or even taking meetings. You know, people that know me really well know that I'm a stickler to, punctuality. I and I hate that I'm this way. It's it's, I've lost some friendships over it, but it's like, You know, let's say you have 5 people joining you for a meeting and and all 5 of them are 10 minutes late. Well, that just stole 50 minutes from me. I mean, in man hour or, you know, 50 man hours of people that they didn't steal it from me, but it sold 50 man hour you know, 15 minutes of man hours.
So With Bitcoin, you know, we're in a sense the measuring tool is the same for all of us. It, It helps it it makes us aware of how valuable time is. So I'm sort of jumping all over the place. I don't know if I answered your question, but that's how I that's how I got to Bitcoin from Hollywood to real estate to Bitcoin. And now I still I still do Hollywood. I love Hollywood. I still do real estate. I love real estate. I just do a lot less of those, and I try to see how Those can influence Bitcoin or vice versa. How Bitcoin can help fix the broken problems in real estate or in Hollywood, and how I can help, reveal to those people that there's a better ledger, there's a better tool that can honor What I think everyone's trying to do but doesn't realize it because we've been preprogrammed and brainwashed so much into how this game of life is supposed to be played. And, you know, we all grew up with this game of life and, you know, make more money. It's an external scorecard. Get higher titles. Make more money. Make more money. Get higher titles. Make more money. Right. But all the expenses are just getting more and more and more. What are the titles mean? Like, Valerie, if I told you half I mean, more than half of the battles in Hollywood, it's like When you sit down to enjoy a movie, you have no idea, you know, how much fighting is going on in the background over, You know, am I an executive producer or a co executive producer? Is this person a field producer or a supervising post producer? Is this guy, you know?
And to the viewer, when they see, you know, these 100 credits, most of them don't even know. Right? Okay. You're one of the producers. But in Hollywood, we know there's like Fifteen levels of producers and they're fighting like crazy, and they'll even lower their fees and sometimes, reduce their fees by half Just to get a slightly higher credit or vice versa, you know, the people that are smart will say, great. Bump me down here and give me more money. So, when you have, an for people that know and you have a a transparent honest system like Bitcoin that just Reveals everything. No one's hiding everything. It's egalitarian and it's fair. It's amazing. And, of course, the spoils are gonna go to those who work the most. It's like it's equal Opportunity, but it's not equal outcome as all proof of work should be. Right? Like you, Valerie, you're working hard on your podcast. You're working hard on your brand. You do all these amazing things. Those things should go to you, not to someone else who's just like, daddy, give me some money and set up, you know, my brand and Get me a logo and a brand manager and an agent, blah blah blah. It's like that might start at the very beginning, but eventually Eventually, the proof of work's gonna come through. Right? Your your audience and your consumers are gonna either like your content or not.
[00:11:14] Unknown:
Let me ask you this, Terrence. Like, you know, coming into this space and obviously, you know, high time preference versus low time preference mindset, and that's something that's definitely shifted for me as I became a Bitcoin, you know, aware more aware of Bitcoin and and how it works, and certainly the whole community around, around this. In Hollywood, right, like, you've got obviously all these folks who are getting, you know, chunks of cash quickly, you know, or and then obviously these dry spells. What do you see is, because I'm always my mind is always thinking of scale. Like, how can we scale adoption, you know, fast but with intention. You know? Like, what happened obviously down in El Salvador was very fast, but the people, the citizens, didn't get educated at the same level of that that implementation. So I think, you know, obviously, lessons learned. It was great, but we still have to do some education. So it's not just like banging over the head with Bitcoin and do a fast adoption just for the sake of it. If people don't know how to use it, what it means for them, you you're not really getting that, like, pure adoption. Right? And so with Hollywood, in the whole entertainment industry, so whether it's, you know, music or film or TV, what do you feel like? Do we have any dominoes that are there where we can, like, address certain folks who are, like, ripe for Bitcoin adoption, who could maybe get their audiences dominoed in a, in a a way that will scale, but will also still have that, you know, okay. It's gonna take a little time to learn. Like, are there any people in Hollywood, whether that's the studios, whether it's the actors, or the the talent, etcetera, or the investors who were, like, starting to see the big problem with Fiat and how everything's disintegrating, you know, below their feet, that are like, yeah. These guys are ready. Like, do you have anything on the horizon where you're like, cool. I'm gonna go orange pill this, you know, sag, or whatever. You know? Yeah.
[00:13:22] Unknown:
Look. It's it's a problem. But, you know, as you know in the fiat world, the the problem is that as much as everyone sees how much the money leaks, You know, all of the actors, the directors, the studios, even the investors, everybody sees how much it leaks to the point where, you know, what's built in on the returns is fairly high percentages, you know, or or promotes or whatever you wanna call it That people need to get back just for them to considering breakeven. Right? It's like, I can't just get, you know, my 10,000,000 back that I give you as an investor. I need my 10,000,000 plus 25%. And that's just even. Right? So they know that it that it leaks, that money is worth less in the future because it takes more Units to buy the same things.
The problem is everything just keeps rising so fast. Like, We are cons we are continuing to go along with the inflation. Like, if, I do a TV show and, you know, it's whatever. 800,000 an episode. As soon as it gets picked up for the second one, we're not like, great. Give us 800,000 an episode again. It's no. Give us 900,000 episodes. Mhmm. Now do I necessarily make more money? Or Does every single crew and staff member ask for more because now we want them back? And in this essence, maybe they should get more because they've done The work, they can now work harder. They can work smarter. They they know the content. Everyone's happy. Blah blah blah. But we just keep Raising and and nothing really nothing really trickles down into everyone preserving their hard work In a better way. It's just really to keep up. So But what's the obstacle, though? What do you think is the obstacle for,
[00:15:07] Unknown:
you know, any of these players to Start understanding that Bitcoin is the solution. Do we need to get that your book in their hands? Do we need to have meetups? Do we need to have conferences that are geared for creatives?
[00:15:20] Unknown:
No. It's a great question. So that's the first of all, that's the preprogrammed world that we live in, and Hollywood is very much a part of that. And And Hollywood contributes to that because many, many of the stories we tell is about the person that needs to improve their life because They're coming from a broken relationship, that you know, that's the architect who just got fired. Right? It's the intern trying to work their way up in a design firm. Whatever it is, We we promote to the viewers that, hey. This is this is a good story because this person now is making more money. Right? Like, that's how it it usually ends. Yes. So what, I'm struggling to answer because there's there's so many different approaches. But, Yes. We need we need to educate.
The problem is so, like, we know 2022 was a very bad year for Crypto, not for Bitcoin. Bitcoin could care less. It's just a calculator. But it was really bad because of the centralized finance Scams and exchanges like FTX Mhmm. And Celsius. Sam Bankman Fried. Hollywood associates Bitcoin with that. And because certain actors, sports figures, names, you know, Tom Brady, etcetera Yeah. Attached their names to these things, They're scared to come out. Like, I personally know some fairly high level, a level actors that are very much into Bitcoin, But they don't want to come out and say they are. They don't wanna talk about it just because of the association. Mhmm. And it actually reminds me not long ago when actors were afraid to come out as gay, Which is silly because now they've been completely embraced.
Yeah. And and that's my hope, actually. My hope is that it's not Ellen DeGeneres getting her TV show canceled because she came out as gay, That eventually people will say no. Bitcoin is this fair and amazing, money. They also they also are I mean, fortunately, the narrative is changing right now, at least in the short term, but they also have associated Bitcoin's mining process of how we get Bitcoin With, negative for the planet with negativity for the planet, with global warming, with climate change. That's not true. That that's just not true. Yeah. Yeah. It's nonsense. And so odds with in, by the way. Sorry. So that's one way in that I'm trying to concentrate on is I'm trying to talk to these, People so many people in in Hollywood are also in the health and wellness space. Mhmm. And it's like, okay. Great. Let's talk about the planet. Let's talk about what Bitcoin can do to the So Right. That's just another way in. I think so. And let so let's unpack that a little bit because I want
[00:18:06] Unknown:
to keep reminding everybody who who listens to these episodes because I know everyone doesn't listen to every single episode. Like, what is what's the deal? What's the benefit of Bitcoin mining for methane, and for climate change, and for the energy solutions to transition into a more sustainable grid. And so I'm just curious. Okay. Yeah. Let's talk about that because you've you have a great chapter in your book about that.
[00:18:34] Unknown:
Yeah. So first of all, it's like the the first thing that peep that people don't understand is that Bitcoin mining does not emit any gases at all. There's nothing pollutive, and that's what, at least in Hollywood, everyone thought. You know? They picture Big smokestacks and, you know, all these burning and worrying machines, and it all it really is just a tea kettle. It's a hairdryer. It's a shoebox sized computer that gives off heat, which in itself is is another great energy use. Right? People are now Heating their homes and heating pools, and there's gonna be many, many more. Mhmm. You literally can buy space heaters that are that are mining Bitcoin. So that's the first part that people To understand, there's no c o two. There's no methane. There's nothing given off. The second thing they understand is, yes, it does use a lot of energy Just like all human prosperity uses a lot of energy, every every country that anyone would wanna live in, they wanna live in because it uses More energy.
But the amount of energy that it uses is high as and as large as it is, is still less than 0.1% of All the energy that is being consumed by the entire world, that amount is is devoted to Bitcoin. So not only is it a rounding error of a fraction of the amount of energy it uses, of the energy it uses, it can't even afford to use new energy. No one can afford to really plug into the wall and mine Bitcoin. They can, but they're not gonna be profitable and they won't be doing it for long. Mhmm. They need to find cheap energy. And right now, the best way to find cheap energy is to take the energy that no one can access, that no one wants, that people throw away, And they'll take it in any form.
And it's like there's, you know, the analogy of of the donut shop. And, you know, you picture a donut shop where, You know, donuts are the energy and, you know, the donut shop owner wants to make as many donuts as he can sell. But if he makes too few, he's gonna lose customers when people are lined up and they're gonna go elsewhere because there aren't enough. And if he makes too many, He's wasting all his resources and his electricity and his batter and his frying machines, and he has to toss them out. Well, Bitcoin miners will come to that donut shop and say, look.
We will buy as many donuts as you can make. As soon as people are lined up and paying retail rates, we'll step off. And if at the end of the day, you've made too many and they Falling on the ground, they're crumbled, and they're smooshed and stale, we'll still take them. And that's the thing that Climate activists don't realize because all they think is that anyone who needs energy, the energy has to come to them, Which is expensive to bring energy to people. But Bitcoin mining can go to wherever the source is because they can go anywhere. They're location agnostic, And so they can go underwater falls and next to volcanoes and in, you know, sun barren plains and and where the wind is. And Any place where people don't even wanna live, they will go. So when you tell people, like, look, energy is all around us. It's It's we can't make more, we can't lose more. It's just moving around the Earth with with the climate and with natural changes.
Miners can go find where it is wherever people are. And if people are there, great. They'll step back. So I so we try to say, look, first of all, it's using very little energy. 2nd, it takes the discarded, orphaned, wasted energy that no one else can use or no one else wants. And 3rd, It can additionally go to other energy providers and consumers and cap off or eliminate All of the waste that they are kicking off because to generate energy through coal or oil or gas, It it does. It gives off waste. It gives off CO 2. Now setting aside the argument of whether our planet actually need c o two. You know, we don't wanna freeze to death, and we want plants to grow and things like that. So setting aside that argument regardless of what you believe, If you believe that it's better to have less of that, well, Bitcoin mining is a tool that can Remove that. And not only can it remove CO 2, another thing that a lot of people don't talk about is methane, which is 84 times more polluted than CO 2. So it's like forget about the CO two argument for a second. Right? So, like, if CO 2 is a car driving towards a cliff, you know, at 1 mile At 1 mile an hour, you know, methane is another car, but driving 84 miles an hour. Like, which car should we stop from driving off that cliff? So, you know, Bitcoin miners can go straight to Farms straight to agricultural centers, straight to dairy farms, straight to, landfills.
You know, we've got over 3000 landfills just sitting here in the US that are just emitting methane straight into the air. So, you know, that's a whole another conversations about how much broken money, encourages us to consume too much, buy too much, put it in storage, it ends up in the landfill, and all of that stuff is just emitting methane. We can cap that because that methane, we can ignite. We just put a little miner down there. We ignite it. The heat or the steam turns a little propeller. That propeller turns a magnet that's on a coil, and electricity goes straight to our mining machine, and we're mining Bitcoin. No other energy consumer can do that. Rather, we have to transmit that electricity at, you know, $2,000,000 per mile To get it 200 miles over to populations and to people. So that's another big idea where it's like, forget, Pretend you don't even care about broken money. You're just so fiat rich you don't even care, but you do care about the planet or you do think that that there's too many greenhouse gases going into the air.
Bitcoin miners can you know, who cares that we just wanna honor our ledger? We just wanna keep our money secure with with this electricity. Who cares? We can reduce methane, You know, all over the world just by by mining.
[00:24:40] Unknown:
Yeah. And if nothing else, if that's one thing I really want people to get who are, You know? All of us tree huggers and nature lovers, it's like, this is a good thing. We need this. And what other, like you said, what other energy consumer can go out there and go on-site and scoop up stranded energy? There's none. It's not cost effective for any other consumer to do that, but it's cost effective and profitable for Bitcoin miners to do so. And so It's very there's just so many tentacles, I think, that I I really want to help people get. And I think some of the biggest I hear in my community are, of course, you know, it's uses too much energy. It's bad for the earth, etcetera. So it's like, We have to really make sure that folks understand, you know, why we need this, you know, and why this is a great solution. And so Let's talk about, and I haven't gotten to the last 2 chapters, you said. And so you said those are gonna be about peace and humans and all this tell like, Do you think you know, obviously, the name of this podcast is Bitcoin for Peace, because I do believe that Bitcoin is a tool for peace, and it helps people, and planet, and prosperity, those 3 ingredients to cause a more peaceful planet. And so, how do you see Bitcoin as a potential tool for peace, to cause peace on our planet.
[00:26:04] Unknown:
I think it causes In a nutshell, it's because money is the number one reason that people don't Honor their preferences and their choices.
[00:26:18] Unknown:
Oh, I love it. Keep going.
[00:26:22] Unknown:
Whether it's in relationships, whether it's in diet, whether it's in career choices and the entire culture that we've seen within the last 5, 10 years. You know? I'm guilty of this as well in in promoting, grinding and side hustles and, you know, how to make more money and do this, do that. Bitcoin, when people switch to Bitcoin, they accept an alternate money system. We're not gonna necessarily It's the broken one, but we accept an alternate one Right. That even if the entire world doesn't wanna go there, but you do, you turn your world into system of truth and a system of of, honor because I like to explain it in simple terms like this. It's like if I'm a house painter and I'm and I'm gonna go paint a house and, you know, Whatever I make that day, at the end of the day, I it's like I have to that that money that I made has to pay for my 3 meals that day, Whatever my proportionate consumption is of, you know, energy at the house, you know, gas and electricity and all of that, and pay for Kids and pay for education and bills and whatever.
So let's say in an 8 hour day, I'm able to pay my daily burn of that in, I don't know, 5 hours of work, but the other 3 hours is just extra because I've worked hard as a painter. Well, those extra 3 hours, I can't store anywhere, And they're just gonna deplete because of inflation. Eventually, why would I work those extra 3 hours? So I'm either gonna only work 5 hours Or if my boss says, well, you have to work 8 hours, I'm just gonna slow down. And I'm gonna make those 8 hours really 5 hours of work, but I'm gonna be Taking 8 hours. So now I'm wasting more time. Right? So we have limited time, and now I'm just wasting it because I'm playing this game with my boss. Like, how many people All over the world are playing games with their boss, looking at the clock. When can I leave? On their computer and then, you know, they're on Facebook or Twitter or whatever when they should be doing something. But, You know, they're clock watchers and they have to be.
So if Bitcoin can help You retain exactly what you work for. You'll be encouraged to work harder, because now you're not gonna have to paint houses as long. Because I can save those 3 hours. Those 3 hours that I saved in that house painting example, in theory, I should be able to go 22 years into the future, Pull out those 3 hours and whatever those 3 hours earned me, if that equaled this piece of bread and this cereal box and whatever, it should give me that 22 years later. But we haven't lived in we've never lived in that world ever that I can think of. May maybe before 1971, but, you know, I don't I don't know.
So that brings peace to people. It's hard for people to see because we've never had it, but it brings peace to people because if I could work And earn money and know that know that I don't have to consume now because it's not melting. Know that I don't have to Buy something quick because, oh, this is on sale, and it's just gonna get more expensive later. I mean, how many people want houses And they're told, get it get it now. It's only it's just gonna get more expensive next year and it's just gonna get more expensive the year after that. And that's true when you price it in Fiat because those units keep getting higher. But it's not true when you price it in in Bitcoin, at least over a long term time frame, like, 4 to 5 years plus.
[00:29:59] Unknown:
So I think What about Let's talk about CBDCs because CBDCs are obviously like a nightmare. And in your book, you're talking about China and the, You know, you're they're basically social credits scores in action where they can shut you down, and, you know, that's what's on the horizon, I think, here for, all of these countries that are gonna start you know, their currencies are failing. And so it's a mass surveillance, and it's mass population, like behavior control. So a lot of people don't understand what a CBDC is and why, To me, they are, you know, the ultimate form of slavery, which is not a peaceful way of being on planet Earth if you are enslaved to a central authority.
So can you talk about that a little bit? Sure.
[00:30:49] Unknown:
Yeah. They're the ultimate form because so just about everybody who is not in, like, This walled garden of privilege that we have here in the US, most people of the global south and developing countries. Their money inflates So much they'll go from, you know, 1 peso to 600 pesos overnight, from, you know, 1 pango to a 100,000,000 pango. You know, they they're They wake up and their money's redenominated into new denominations. So we've never had that here. We've always had the $1 bill, the $5, the $20, the $100 bill, whatever. The version for us for that is CBDCs because there could be a day where it's like, hey, everybody. Turn in $100 to your bank, and you're gonna get 1 CBDC.
Turn in a 1,000, you got 10 CBDCs. That's the way that we would redenominate just like the as they always have when they restamped the The dinar or, you know, they clipped coins. So on one hand, it's a way for a reset, and the government needs a reset. Right. We're over $34,000,000,000,000 in debt right now. There's no way we can pay any of that off. They they can't do it via taxes because they won't be hired, so it's gonna be Inflation inflation inflation. Yeah. But the CBDC because it's programmable and because it's virtual, suddenly, You know, think back to COVID when we had to stay in our houses. Right? Mhmm. It's like you know, I know you're smiling because you get this so much and you know. It's like, Stay in this zone. It's gonna be like the hunger games. You can't spend beyond this ZIP code. You're you've gone too far. You're gonna transmit the disease from this zone to that zone, Yeah. So they'll turn off the CBDCs. They don't like how you voted. They're involved in some lawsuit.
You know, look what happened to the truckers in Canada. Look what happened to the Russian Ukraine war. Like, With CBDCs, it gives them so much control. Now some might say, oh, maybe this is a good thing. I don't care, you know. Lots of people are completely psyophed. Oh, I don't have to worry about taxes. Come tax time, just push a button. Because the CBDC already knows what you spent on. They already know what you earned and spent. So What taxes are there to do? But, you know, you have to ask yourself, you know, What is freedom?
You know, do you do you believe you know, do you understand the difference between secrecy and privacy? Like, do you want people to know what you're spending your money on? Do you want there to be limits? Like, many countries have this. Right? Lebanon has shut down banks. Nigeria, I think, was limiting how much people could spend per day. You know, the US dollar is actually illegal in numerous countries. You know, 15 countries 15 of the 55 countries in Africa are still under the oppression of the the of France, of the of the CFA, Frank. And we don't see any of that here. So for us oh, with CBDC, that just sounds digital. Well, don't we already have digital? We have Venmo. Our banks are digital.
Mhmm. Yes. But those aren't smart contracts, and they can't be programmed. And that's and and even though I get it, you know, From a VC innovative standpoint, like, oh, wow. How amazing you can program a CBDC. So say you're gonna buy a house for $1,000,000 and you just program these CBDCs and it Transfers the name and the ownership and the title, and there it is on the quote, unquote blockchain. I get that, But it's all centralized. That's the problem with CBDCs. Mhmm. And it's all controlled by the government. The government isn't supposed to control our money. They're not Supposed to be the overseer or god of our value. Right? So if you ask yourself, What is money? Well, if money is just my past excess contribution to society, what I have done, And I'm just trying to hold it in something so I could use it later.
Why is the government holding it to permission for me and to surveil And to tell me when I can use it and to, you know, to delay it for me and where I can, you know so, yeah, it's a huge problem. Now, Personally, this might be unpopular. I don't think it's gonna happen anytime soon. I don't think our the US government can figure it out, but we still should get the word out and fight against it.
[00:34:52] Unknown:
Do you think though I mean, I I kind of look at COVID as a, you know, a testing ground for them when they were doing all the little UBI. Here's your stimmy checks. Right? And so I don't know. In my mind, I'm I'm in the, like, was this their little, like, let's just sprinkle this out here and see how everybody reacts. And, You know, obviously, people think, oh, goody. I got $2,000, but in the meantime, we printed what? 6,000,000,000
[00:35:20] Unknown:
or 6,000,000,000? Excuse me. How much do we print? 2,000,000,000,000. So yeah. Our we yeah. We printed over 40% of our entire Yeah. Monetary supply in 2 months.
[00:35:30] Unknown:
That that's why well, that was my thing about It was between that that, that happening and then the truckers and then Alice Gladstein and listening to him. Those are my 3, like,
[00:35:42] Unknown:
What the hell is going on out here? I don't what have I not been paying attention to before? And I think the great thing about COVID is terrible as that was is that It did wake people up to inflation because everyone's like, oh my god. These stimmies. I think people that were on unemployment were getting 600 a week for, like, Close to a year. Lots of people did these PPP loans. I have friends that did these PPP loans taking out 6 figures, and they'd be texting me going, oh my god. I just got a $120. I'm like, what did you do? They're like, I didn't do anything. I pushed a few buttons online.
Right? Like, tons of money. Right? And so they were so excited. They were buying all kinds of stuff. 2 years later, the now they're complete. Like, why is everything so expensive? And now I have these huge, you know, SBA, loans that I have to pay back. And so now now they're under debt and everything's more expensive. And if they could, because I've asked them, they would go back and push a button and not have taken that money and but, you know, Not inflate the the supply, but, you know, it's like, I mean, I don't know what a beer costs over by you, Valerie, but, you know, I used to be able to go get a beer for Five, $6. Peers are, like, over $10 here in LA. Oh my god. Yeah. No. It's stupid.
So
[00:36:51] Unknown:
Yeah. It it's definitely, You know, we're shortsighted humans, a lot of us, and I think, again, we've shifted as Bitcoiners to think like, you know, Oh, this is gonna cost $10 for my beer. Well, how much Bitcoin can I get for that? And you're just like, I don't really need that beer, or do I need to go to Starbucks, or can I go make coffee at home? Or All the things, like, our minds start thinking because we really incentive
[00:37:13] Unknown:
to save, overspend, right, to create overconsume, and and to plan rather than gamble.
[00:37:19] Unknown:
Yeah. It really is like the my consumption model has definitely come under a lot more scrutiny since becoming a bit you know, learning about Bitcoin because it's really, Like like, oh, wow. This is something that actually
[00:37:32] Unknown:
might ten x, you know, and it has ten x, you know, repeatedly. And so retrospect, yeah, you get to see what something costs. That's that's the thing because as Bitcoiners, we wanna encourage this circular economy of spending Bitcoin, But at the same time, suddenly, you look back. You're like, oh, what did I just spend on, you know, that salad bowl? You know? Now that salad bowls $200 if I price it in USD.
[00:37:57] Unknown:
I know. It's it's really cool. I liked your, Your example of how much an iPhone cost, you know, back when Bitcoin was frozen, it keeps going, you know, in in Bitcoin denominations. So I think that's something I think visually, I'm a I'm a total visual learner, so the more I can see thing I mean, I obviously listen to stuff all the time, but, like, When I can see, like, wow. This is how this goes. It sort of something clicks. And so I think the more the more types of content and the more things like Just that specific example, you know, how many ways can we put it out there to the different audiences that we have so that they understand?
You know, whether it's a little video clip, whether it's a graph, whether it's a little slideshow, whatever it is. And I think, you know, you're obviously a prolific content creator and on many levels. You know? How are you finding your audience receiving your book? Like, this is such this it's it's seriously. Like, I mean it. Like, I love this book so much. I can't wait for everybody to read it. I'm so impressed and so excited, and you've really created such a great contribution to the education for people who are Bitcoiners and who are brand new to it. It's it's really, really well done. I'd love it.
[00:39:09] Unknown:
Oh, well, thank you so much. That means a lot to me coming from you because I know you've read so much. I mean, I don't know. You know, when I wrote it, I think I wrote it for me because I know there's So many Bitcoin books out there, and I was really worried that there was just really no need for it. And it was just an echo chamber of saying the same thing, but, it was helpful for me because there were a couple things that I didn't fully understand. And as you know, you know, when you write, you often write for yourself. So it synthesized those thoughts for me, and it forced me to do the research rather than just parrot something I had heard.
[00:39:50] Unknown:
What was a big, like, What was a big, thing that you've, like, kind of got in and and, you know, got more clear on? Like, what was an example of that?
[00:40:03] Unknown:
It was the the the the mining process. I didn't really understand that it's just an arbitrary contest, and we're all rolling dice and nothing more. And you can tell when you read my book that that's What I needed to learn the most because I spread it out over 3 chapters adopting the characters from Friends to help explain it. Mhmm. And I had to do that for myself. And not everyone needs to know that, but that helped me realize just how honest the system is because, You know, even an a bad actor that wants to come in and try to alter or corrupt the network can't. They have to roll the same dice that we do, And it's just it's just a game, and we're all rolling dice. So that was hard to understand. But to get back to your question, It was tough for me because I I specifically wrote and released the book during one of our worst bear markets ever. And I knew I was doing that, But I I really took it to heart when everyone said, you know, build during the bear, build during the bear, and I wanted to contribute somehow. I didn't know how. I was just an anon on Twitter. I was reading and listening to everything. I never responded, replied, liked, anything. I had 6 followers, and I said, I'm just gonna put my head down, write this book, Start thinking in metaphor. Start thinking in story. What are ways to orange pill people?
What are good ways to explain? And I kept thinking of people like, You know, my mom and, like, my friends that were buying Dogecoin. It's like, how do I get the the word out there? I knew because I'd written 2 books before. I knew that this wasn't gonna do nearly as well as those, but it didn't care. To me, it was just so much more important. And it hasn't it hasn't sold nearly. Like, my real estate book is, like, a 1,000 x this. Like, it it it just went through the roof. The but but The people that find it, the the personal letters that I get, the emails and that I get are incredible. I've never gotten those types of emails with any of my other books. So Wow. That's made it all worth it. So I think it'll it'll get out there, but I also know there's other great books. And, honestly, I don't care. I want people to find the book Speaks to them, and there's new books constantly coming out. You know? Mine was sitting on the number 1 in 2 categories in banks and monetary assets forever for a while. And And then this girl, I don't know, someone named Lynn Alden wrote a book, and then mine went away.
[00:42:27] Unknown:
Lynn. Oh my god. The brain over here. It's such an interesting because I'm listening to that book right now, and, you know, and I Have been able to get through your book a lot faster because I knew I was gonna get to interview you right now. And, I mean, 2 totally different styles. Right? Yes. And and well needed. Right? Like, there's people who are gonna just completely go flock to to Lynn because that's how their brains are are wired, and there's folks that are gonna be like, oh my god. Thanks, Terrence. Like, this is exactly how I needed it. I needed to know how Rachel was doing this and Phoebe and all that. You know? Like, we do. I'm I I'm an analogizer, so I think in terms of metaphors and and analogies, and it's easier to for some people, it's easier to process, you know, something that's seemingly difficult in that format versus, like, here's my charts and here's the you know? Like, you should do that, but it's it's easier sometimes. So so it's really well needed.
So what's on the what's on the horizon? What do you got under your sleeve? Up your sleeves right now?
[00:43:30] Unknown:
Well, now I'm I've aligned with this place called The Bitcoin Advisor, which is really great. There's a bunch of us, Cedric Yungleman and, Luke Broyles, and, we're international. We're all over the world, and our purpose is just to get people's Bitcoin off exchanges. And we just educate people on how best to self custody. And, specifically, if they wanna go this far, we take them into multi Signature, collaborative custody, if they wish. We're completely company agnostic. You know, we'll teach them about Swan or Unchained or Casa or Nunchuck Or, you know, any system that they wanna use, but the key is hold your own keys and have it done in a way where your Inheritance solutions, are secure, that you'll get Bitcoin to the right people when you die.
And, You know, we do time locking. We we basically hold their hands sort of a white glove service, and and how best to custody. And if people don't wanna pay, they don't have to pay. Like, they can rip us off, and, I don't mean that in a bad way, but we just we're all happy to educate Everyone that works at The Bitcoin Advisor, I think there's, like, 20 or 25 of us right now. Nice. You know, people can book with us. We'll talk with them, And if they want to use our services, which would be multi custodial collaborative, then then great, where we hold a key. They can hold 2 keys, or they can hold a key, and then Unchained can hold a key, or Swan, or whoever, then Then fantastic. They could do that. But if not, they can just take the information and go do it on their own. But a lot of people, and this is where the world is gonna be going, Don't wanna learn about that and that scares them. So we do deal a lot with high net worth individuals, with corporations, with institutions, But, you know, just the other day, I dealt with someone that just bought their first $500, and I spent just as much time with them as I did with someone who, you know, had 200 Bitcoin to secure. So
[00:45:32] Unknown:
What do you think about, like, KYC versus no KYC for people for the future? Because, obviously, like, working with whether you're with Unchained or Swan or any of these, services, it's all k y c. Like, what do you do you feel like there's a need for both, like, to learn both, and so that you're kind of protected if, you know, the government starts to get all you know? What is it? 6102
[00:46:00] Unknown:
order? Is that it? Yeah. Yeah. So Well, order 6102 is, yeah, is back in 1934 when the government, Outlawed gold, but the reality is that they never went knocking door to door to people. Anyone that had gold in their own possession kept the gold. It was mostly a bank Conversion thing. Mhmm. And that's what people forget. And the same is with Bitcoin, you know, and I know we have some legislation coming down or being proposed. I don't think it'll be passed, but we absolutely should fight it. That is saying that we shouldn't self custody our Bitcoin, but no one's gonna knock on our door. No one can take math away from us. If If we're just storing words or math in our head, good luck taking our Bitcoin. Yeah. They're not gonna do that. I am probably this is probably less popular than a lot of Bitcoiners, but I'm not worried about the KYC thing because It's like with my Bitcoin. I spend my Bitcoin. I use my Bitcoin for things that I need in real life. And to do that, I need to come off and I need to use an exchange to get into fiat.
I get it. If you're a prepper, if you're a person that owns a bunch of guns and digs gold in your backyard, Great. Do the non KYC. That it's available for everyone. The great thing is that Bitcoin is a tool, and we can all use it differently in different ways. Yeah. I'm not one of those non KYC people, but but I get it. I get why some people need that and want that.
[00:47:19] Unknown:
Yeah. I do too. I'm I'm obviously and I think too, obviously, we're forward facing people. We're not, so we're clearly, like, promoting Bitcoin so people will you know, if they ever wanted to get all, China on us still know who we are. Be an anon, but I was I was thinking, you know, if I'm educating and promoting Bitcoin that I don't know that that says Sends the right message to noobs and regular people that I have to hide. Yeah. I agree. And and I think about, obviously, all the folks who are out there currently and have been before us who are not Anon, and I'm kind of like, well, I'm gonna take 1 for the team too. You know? Like, it's you couldn't go be Anon, which is totally fine. Ultra respect, but for for some of us yeah. And I think, you know, obviously, it depends on your audience. Right? Like, Sure. Maybe some younger folks will be like, who cares? I don't care if you're an Anand, but us older us skisiers.
Yes. Know who the hell we're talking to. Absolutely. That's amazing. Do you have any, so I'm so excited about Bitcoin advisor, I didn't know that that's what you guys did over there, so that's great. I might have some business to send your way. That seriously. The, what about any creative stuff? You've got any any, I know when we were in, LA, you were talking about a a possible big, productions that you were working gonna be thinking about.
[00:48:42] Unknown:
Well yes. So, yeah, on the movie side, you know, I still I still like to make movies. And if I can, I would like all of those as or as many as possible to to lean towards and influence, people into Bitcoin narratives? It you know, some of it, I think, just needs to be adjacent. You know? We've had many movies that have been very close. We've had TV shows like mister Robot, you know, and we've had A Beautiful Mind and The Big Short and, The Matrix and things that have been really close but haven't really talked about Bitcoin. I don't think the world's ready for just a Bitcoin movie. Right. But maybe they're ready for a movie about a person or persons, You know, that's maybe a period piece working on computers and cryptography, and, oh, look what they came up with, or did they come up with it? Who came up with it? Is it a mystery? Is it a thriller? Does it involve the CIA, the NSA?
You know? And what Kind of gift did they give to the world? So I think we like those movies. I, you know, I love Movies like The Social Network, and it's like, okay, that was Facebook. Who created Facebook? Well, who knows? But To me, there's just a huge mystery and audiences love origin stories. They love mysteries. So I'm trying. I'm talking to a lot of people, some of the people that you and I know, And maybe there'll be several versions eventually down the line. I think someone else in Hollywood might even tackle some of those before me, but I don't know that they'll be right. Like, I know that the Bitcoin Billionaires movie is coming out, which is the sequel to The Social, Network, which involves the Winklevite twin and how they first found Bitcoin, Which is how I got orange peeled, interestingly, because now I would never recommend that book to people over all these other incredible Bitcoin books. But that was a Book about story. Yeah. And I was, like, fascinated and like, oh my god. I have to get Bitcoin. This is incredible. If these 2, you know, good looking, rower, Rich dudes, you know, right, the fiat mind Mhmm. Should be buying Bitcoin. I should be buying Bitcoin. Right?
And I think that there's gonna be the SPF movie. Right? Michael Lewis has already sold his the screenplay rights to his book. I'm not sure who's writing that yet, but so, you know, it's gonna be adjacent, but I don't know that's gonna be in a good light In the SPF or FTX. You know?
[00:51:04] Unknown:
Yeah. I know. I I because I I what I wanna see in a film I mean, obviously, we just we're working on Satoshi the cyber opera, which I'm curious if that story should go get made into a movie because my mind I was talking to somebody about it yesterday. And, You know? Obviously, the original way we were thinking was, okay. This is gonna go to festivals and all these big concerts and all this stuff all over the world, but, like, The attention span of people at those venues, you know, it's like, okay. There's 10 stages going on at the same time, so people are bouncing around like crickets. You know? So you're not there for the entire, or, storyline necessarily. You might come in halfway or wanna leave, whatever, so you're not getting the message. You're not getting the story. And so I'm I've been rethinking, like, would that would this be more of an appropriate thing to turn into a film or something where it's like You've got captured attention for 90 minutes or however long. You know?
So because it is. It's it I think it's an interesting story, and it does obviously have more creative license, the way that we all contributed to it together. It's a group effort. So, yeah, I don't know. We'll We can talk offline about that later. Yeah.
[00:52:15] Unknown:
Yeah. For sure.
[00:52:17] Unknown:
Yeah. I'm super excited about that. Okay. So Any last thoughts and words for people who are on the fence and, you know, want to learn a little bit more and poke holes in coin, which I think everybody should. Do your own research. Don't believe any of us. You know? What Yeah. What would you say to folks who are listening to this who who wanna learn a little bit more about the environmental parts or, obviously, human rights. Go get proof of money. That's the best. So you guys have to get this book. It's incredible.
[00:52:46] Unknown:
Yeah. You know, it's like what I try to tell people now and it always alters as as I learn more and see how people respond, but I say, you know, 1st, buy a little Bitcoin. Just a little bit. Right? Just you need to see it, and you need to see what it's doing. And, Because metrics and numbers are important for us, it's helpful when it goes up, and it's gonna be going up for the next couple years, I think. Yeah. And then learn. Absolutely learn about it. And if you like short form content, that's great. It's it's all over the Internet. There's great documentaries. There's, Great podcast like yours. There's so many ways to learn about Bitcoin.
But, yes, that is also right. I wrote the book and probably why lots of others I've written the book. I try to address every single piece of FUD and FOMO and criticism, As well as just explain what is it technically, what is it actually doing, and then what does that mean for us? If people aren't willing to learn or they're too busy because they're, you know, of course, because of the fiat That that's the irony. People are too busy to pick up a book and learn because of the fiat problem, yet it's the book that teaches you how to solve the fiat problem. And I would say get on Twitter. Twitter is a great I I've learned so much from Twitter and met so many great people like yourself.
[00:54:04] Unknown:
I know it's incredible. So many of my kids and other people in my life, they're like, oh my god. Twitter's so bad. It's awful. And I'm like, it depends on who's in your feed. You know? And anything can be awful anywhere. It's just Right. Who are you following? What are you clicking on? And so it'll start paying attention if you wanna learn. But, Yeah. To me, that's the most I I have learned. Obviously, there's Noster, but Noster is another level of of of Bitcoiner folks. But, yeah, I think Twitter's a great resource for people to get on to. And I think too what I would love to invite people is, like, Every Bitcoiner out there is so excited to share information.
It's not there's no dumb questions. There's no, like, oh my gosh. You don't know what that is. Everyone's, Super happy to try to help and support. And if they don't have the answer, they I've found that someone will guide you and say, oh, go check this out instead because I don't know the answer.
[00:54:54] Unknown:
So it's We're all educators. I've noticed all Bitcoiners regardless of what field they're in. They're they're educators.
[00:55:00] Unknown:
Yeah. It's very it's such a passionate group of humans. I feel like I still every day, I'm like, oh my gosh. I can't I I can believe it, but I'm like, wow. There's so many amazing people out there of all walks of life, all ages, all races, all politics, all religion. Bitcoin doesn't care about any of that. Like so I just think it's interesting that it's this unifier. Yeah. So it's it's it's magical. So Is this released before Christmas?
[00:55:29] Unknown:
I love it. Do you want do you want it to be released before Christmas? No. It doesn't. It's up to you. But well, I was just gonna say to your audience, like, you know, it's At at least to the Bitcoiners, it's great to give Bitcoin as a gift. It really is the best because as they learn, and I recently have been doing it in a new way. Know, I've been given it for years. You know? I I used to give it on the little, USB drives, you know, from Koincite. Yeah. The the ones that stick in the clock there. Yeah. And then before I would, like, just send I'd have them download an app and send it. But I found the coolest creative way to do it and, which I've already done twice this year at Christmas parties because I just get out of an a notebook, a piece of paper, and I write down 12 words.
Now what I've done ahead of time is I've gone to, you know, some wallet, and I've set up a wallet with the 12 words. Now Okay. Right. I said so I know so I know and I and I have it. So I have a copy of this person's wallet Mhmm. On my phone. And I write down the 12 words on a piece of paper, Just put it in a box. And when they get it, they're like, what the heck is this? And I just tell them that's that's Bitcoin. Those words are the Bitcoin. That is your wallet. And they're like, what? And then we go to their phone and I help them download whatever app they want to. They punch it in. Right? Import wallet, and boom, there it is. So I immediately deleted on mine, and now they have it. But they see that the words are just it. And I say, you can delete that app now or you don't like it or if you lose your phone, don't lose those words. Those are yours.
You know? And and it's just, you know, whatever. It's just 25, $50 because it's like those secret Santa,
[00:56:58] Unknown:
things. But that's, like, super powerful and profound. Like, people don't still don't understand. You know? And that's why I think when they think about, like, oh, we're gonna ban self custody, and I'm like, bacon, bacon, bacon, bacon, bacon, bacon, bacon, bacon, bacon. Right. You know? Like, How are you gonna ban me from remembering those words? You know? And so, it's it's it's a fear tactic, obviously. And so the more that we can learn about how this truly works and what it is and why it is, you know, code and is protected by free speech, We need to understand that as humans, and so and we do still need to fight the FUD. So yeah. Yeah. Oh, cool. I love this idea. I'm gonna I'm gonna I'm gonna go
[00:57:41] Unknown:
words, and I I've got all the pieces of paper ready, you know, just for different Christmas parties I'm going to, and I'm gonna put those in boxes today. And those are them. I'm giving away these words, these these little as little gifts. Because when they do it and they have to import it themselves, they suddenly know what the words are, and then they see it. Yeah. You know? And they're like, that's it. That's all I have to do.
[00:58:01] Unknown:
That's it. That this is your wallet, those words. Yeah. Anyways it's like, okay. If you wanna get all clever and do the multiseg and the extra Yeah. I tell them, look. Once you get enough money in there, right now, this is to the next level. But it's Yes. But it's the same thing. It's like you give somebody a $50 bill. Right? They're like, this is so great versus like, Okay. I need to go put $5,000 or whatever into a bank or a vault or something like that. You're not gonna go carry that around in your wallet so people understand, obviously. This is a great what a fun entryway. I really like it, and I like that it's physical.
Yeah. You know? It's Yeah. Exactly. Yeah. That's really, really Cool. Okay. I'm copying I'm copying you, Terrence.
[00:58:38] Unknown:
Yeah. It's fun. And the great the great thing is too, it's like especially if it's a small amount and and they don't care, You can open up your wallet and monitor and just see if, you know, if they're still using it. Did they spend it? Did they put it up? Because, you know, it's like, I'm not gonna steal their $25, but I just Wanna protect them. Like, oh my god. I lost my words. Like, okay. Here you go. But, you know,
[00:59:01] Unknown:
That's a cool way though, because then you can still have follow-up and or like, Hey. I noticed you didn't move this. Do you wanna move it to somewhere else or whatever? You can still keep that. Yeah. You should move that journey. Own words, right, that I don't have. Exactly. Exactly. Yeah. That's super cool. Oh, I love it. This is so fun. Well, I just wanna say thank you so much. I'm so happy to see your face, and and I can't wait. I've got 2 more chapters of, of proof of money. You guys, you have to get where is it? You guys I'm I'm a big audiobook fan. So Oh. Proof of money. It's amaze balls. And I'm I'm I was actually as I was listening to it this morning, I was wondering, We should do a book club. Like and then Oh, that'd be awesome. You know what I mean? And, like, have like, do some Twitter spaces or something and then just talk about the books. And then That's a great idea. Okay. Everybody's gotta go through 3 chapters this week or whatever. So that could be a fun way for just for all of us to go talk about. Fantastic idea. You know? Whether it's your book, Lyn's book, all the new stuff that's coming out, I think it's cool to talk about and then Unpack and dissect a little bit and invite new people in to talk. So maybe we'll let's schedule something.
[01:00:11] Unknown:
That's a great idea. I love that. Yeah. Let's do it. Okay. Cool.
[01:00:15] Unknown:
Alright, everybody. Thanks again, Terrence. So, Terrence, where can everybody find you on the the interwebs?
[01:00:21] Unknown:
Just at twitterx@proofofmoney.
[01:00:25] Unknown:
Awesome. And what about should they go to your website? Well, if they go to proof of money, they'll find my website. Everything's in my bio. Yeah. The link tree. Yeah. Yeah. Yeah. Yeah. In debt yeah. Definitely follow Terence. Get his book. You guys are gonna love it. And whether you're an old timer or a new timer or a no timer, like, get proof of money. It's so great. So Wishing you guys happy holidays, and, again, thanks so much, Terrence, for joining us and sharing all of your your wisdom and, good vibes with, everybody here. So Alright, everybody. Peace. You bet. Peace, love, and warm.
We'll see you next time.
Introduction and Terence's background in Hollywood
Transition from Hollywood to real estate and the desire for financial freedom
How Bitcoin can bring peace and the dangers of CBDCs
Terrence discusses his work with The Bitcoin Advisor and the importance of self-custody.
The conversation shifts to the topic of KYC (Know Your Customer) regulations and the need for privacy in Bitcoin transactions.
Terrence talks about his interest in creating Bitcoin-themed movies and the potential for storytelling in the crypto space.
The hosts discuss the importance of education and learning about Bitcoin, as well as the supportive and passionate Bitcoin community.
Terrence shares a creative way of giving Bitcoin as a gift and emphasizes the importance of self-custody.
The conversation concludes with a discussion about the book 'Proof of Money' and the idea of starting a Bitcoin book club.