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That's right, guys. We finally got the Demon back.
We got the new wheels on the Demon.
We are heading to a ball tournament today,
so no Sunday drive on the way to church.
But, you know, sometimes, you've got to play baseball on a Sunday.
It is what it is.
Guys, I have got such a big video for you guys,
for my XRP Army people.
Where are you?
I almost forgot to do this video today.
I've been planning on it for several days.
But I just want to go over--
we're going to start by talking about what happened at the Bitcoin Conference.
And I'm going to tell you how it was a flashing neon sign for XRP.
And by the way, all of the XRP Army out there,
you know, basically the long and the short of it is that, you know,
I talked to some people this weekend.
I've been--
on Twitter, I've been looking at what's been going on with the #ETHGate situation.
Ultimately, I don't know what's going on with that.
It looks like, you know, John Deaton is just digging up more and more and more stuff,
stuff that could actually be used in the XRP-SEC lawsuit.
If that comes to fruition,
well, I have to give this story a little bit more credibility.
Basically, the implication here is that,
you know, Simpson Thacher, who's part of the Ethereum Alliance,
gave a bunch of money to William Hinman during this time.
Maybe Joseph Lubin, maybe ConsenSys, the company Consensys is involved in this.
The company that runs MetaMask.
And look, all that is certainly possible.
I'm going to still stand by my argument that I made in the beginning.
The Ethereum Alliance is not Ethereum itself,
so even if Joseph Lubin and, you know, ConsenSys is all tied up into this
and there is, in fact, a bribe conspiracy that is proven,
it's not a reflection on Ethereum.
It's a reflection on the members of this Ethereum Alliance.
So I still don't like this narrative that somehow, like, Ethereum is bad
because, you know, you've got some people in the background of it.
You know, that's like saying that, you know, Bitcoin is bad
because, you know, Craig Wright probably was involved in the development
and he's a terrible person, so Bitcoin must be bad.
It doesn't really make a lot of sense.
But let's go back.
I want to start with the conference last week
and how this ties into XRP.
You had Michael Saylor on stage, Cathie Wood on stage.
They had quite a great talk.
They were talking about, you know, Bitcoin, Ethereum, the market.
I really love what Michael Saylor said.
You know, Merrill Lynch told him they couldn't talk about Bitcoin,
so he took $800 million, or whatever it was, $175 million maybe it was, to another bank.
That was all cool. You know, he ends by saying like,
"Listen," you know, "the No. 1 thing is make sure you don't sell your Bitcoin."
And everybody in the crowd goes wild.
Everybody's clapping. Everybody's excited about it.
And, you know, Michael Saylor is the cheerleader of Bitcoin.
I mean, that's really the way that it is.
But, you know, later in the day, we got the talk from Jack Mallers.
Or Ma-- I think it's Mallers.
"Mallers"? "Mallers"? Whatever.
I already said my little piece about what I think about Jack Mallers and his, you know.
I just don't like people--
profanity-stricken tirades on a stage to seem edgy.
That's really dorky in my opinion, but whatever.
People can choose to talk the way they want to talk, whatever.
But this is supposed to be the big announcement.
As I'm--
I'm at a VIP table right next to the stage awaiting to hear,
with a couple of members of the BitSquad,
waiting to hear this announcement from Jack Mallers,
and I get an alert on my phone.
And I look at it.
And what does it say?
It says,
"Oh, my gosh! If you thought last year's El Salvador announcement was big,
wait until what Jack Mallers has to say today!"
Incredible, right?
You're sitting there, "What is this? What is this going to be?"
You know, we're going for an entire country accepting Bitcoin.
This is going to have to top that.
The big rumors are it's an Apple announcement.
There's an Apple-Strike partnership coming.
Strike is Jack Mallers' company,
which, by the way, a completely centralized payments company,
but I digress,
using the Lightning Network.
And I would be really curious,
how many of you guys even understand the Lightning Network?
If you know what the Lightning Network is, drop a comment down below.
If you don't know what the Lightning Network is, drop that down below. I'm really curious.
I assume probably less than half of my audience even knows what the Lightning Network is.
But whatever.
Jack Mallers goes through an educational journey of payment networks,
and basically what he does is he explains that since 1949,
when Diners Club was created,
which was the first credit card,
that would eventually become--
I think it eventually becomes MasterCard, I think.
I can't remember exactly the order of events.
But in 1949, it was started,
and that is when a card payment network came to fruition.
For that very first time, those transactions were going through in 1949.
3% charges.
3% is what the card networks charge the retailers for accepting a credit card.
So you go spend a credit card,
the cost is $100, $97 goes to the retailer, 3% goes to the card network.
Jack Mallers goes through this entire thing where he explains how archaic this system is
and that there has to be a great new system to come in place
for the first time in 70 years to innovate.
And then he goes on to basically discuss what that looks like.
They're working now--
Lightning Network is working with Shopify.
They're working with NCR,
which is the world's biggest point of sale system.
All kinds of companies use this.
McDonald's, Walgreens, Ted's Montana Grill,
you know, yada, yada, Bed Bath & Beyond, whatever.
All that's great.
But here's the problem. Okay?
The problem is,
until there is a motivation from the retail side
to force people to use the Lightning Network via the Cash App to make their transactions,
it's great we have another alternative, but people aren't going to really use it.
Okay, here's--
this is why, like, I think it's so ironic.
It was supposed to be a Bitcoin Conference.
Really exciting.
Jack Mallers just advertised XRP.
He advertised XRP without even knowing it.
If you want to go to the diagrams that was shown and you were to substitute,
instead of retail,
a person shopping,
a store,
if instead of that,
with the card network in the middle,
if you were to say a bank to a bank,
with the SWIFT network in the middle,
it's the same exact system!
It's the same exact system.
Both Bitcoin and Ripple network are networks of value.
They are not networks of information.
SWIFT and card networks, or the main card network,
they are both networks of information.
All they do is tell people where the ones and zeros go.
And then people in the backend have to come in and make those changes.
And they charge 3%.
I don't know what the percent that SWIFT charges,
or I don't know how the breakdown of those payments and charges and fees go.
But he was basically explaining,
it's an archaic system.
It must be overthrown.
Today, we have the technology to do so.
And we now have the network.
But here's the problem.
For Bitcoin, Jack Mallers could not explain the motivation from the retail side.
The only way that we're going to see Bitcoin adoption in this way
is if the retailer say
"We're not going to accept cards.
You're only going to be able to use the Lightning Network.
You're not going to be able to use the card network."
Whereas with XRP,
all of the motivation,
all of the inspiration,
all the reasons to use it,
they're already built into the network.
All you have to do is get hooked up with RippleNet,
get the technology, or get the user interface,
and boom! It's right there.
Where is the downside?
You're saving six to eight days.
Six to eight business days you're saving by using the XRP network,
which pales in comparison to the amount of time that you're saving--
you're really only saving percentages in dollars
with the Bitcoin system using the Lightning Network.
Whereas with this,
you're saving money,
you're saving time,
you're saving resources.
You're able--
you don't have to have people go into the backend of RippleNet
and move all the numbers around. They're moved instantly.
And what I mean by a network of information versus a network of value, just to explain,
I know I broke it down several times,
a network of information means information goes over a network,
but then the money side of it has to be handled later based on the information.
A network of value,
when you push the transaction,
all the money is moving where it needs to be instantly.
There's no need to come in on the backend.
And so all I kept thinking when Jack Mallers was talking was
this is XRP.
This is B2B.
This is bank to bank.
These are remittance portals.
These are inter-- you know, cross-border transactions.
This is the motivator.
This is what it is.
It was a neon sign for XRP.
It's evolution.
The evolution of technology.
The evolution of technology says
that eventually we will probably be using the Bitcoin network.
It's just on the responsibility of the retailers
to provide that motivation to their customers to use it.
With XRP, it's already built in.
We're going to see XRP adopted before Bitcoin.
No question about it.
You're talking about the adoption of one industry, the banking industry,
versus the adoption of a vast number of industries that span all of retail in the United States.
It's absolutely insane.
So I was super encouraged when I watched that speech this weekend, or this week,
and I was just so glad that as I was watching it,
I was watching it already knowing that, like,
"Wow, what an advertisement for XRP, for the XRP Army."
If you're in the XRP Army, make sure to throw the X up.
Make sure to hit that like button.
Let them know you're in the chat.
I can't wait to be back live in studio tomorrow.
That's all I got.
Be blessed.
BitBoy out!