The Hollywood Strikes Are The Past. Bitcoin Is The Future. | Clips | Dad Saves America

0:01 - Since the 2010, with no agenda, people were telling message about Bitcoin. Like, do... - You got on this early, the Bitcoin trade. - Why wait for it? It's so much fun to have. So, people are sending me messages, like Bitcoin, Bitcoin, Bitcoin. And, you know, this is the new money. And Dvorak and I, in typical fashion, "Man, this is Beanie Babies for the internet. This is nothing. This is bull crap." And we're very... - We're just gonna crack...

0:25 My thing, 'cause I missed out on Bitcoin, and I was big into the Fed. - Oh no, it gets better. My story is horrible. - [John] (chuckles) Oh no. Okay. - So, eventually, I'm like, "All right, I'll take the wallet, whatever that thing is, yes." So I have 65 Bitcoin from early on. - Oh. - Sittin' in a wallet. - Oh no. - 2015... - Oh no. - "So Tina, this thing is at 900 bucks. This is payday.

0:51 Let me learn how to do it and I'll send it to Coinbase and we'll cash in." So I sell all the 65 Bitcoin. And within like six months, it goes to 10,000. I'm like, "I'm an idiot. What did I just do?" (John laughs) And it was hard. - Who could have known? - Anyone who says that, you know, "Oh, I would've held it," has not. But I had my lesson early. By the way, that's a 600 bagger, that's not a bad...

1:15 And I paid nothing for it. People gave it to me back when a pizza was 10,000 Bitcoin. All right, so I learned a lesson. And I started reading. I started reading the Bitcoin Standard. I'm reading the Satoshi whitepaper, you know, I'm starting to learn about. I said, "This is interesting." Okay, so during the COVID lockdowns, when we had the check mark before the check mark recovery, we had the drip, the dip, Bitcoin goes below 4,000. And Tina and I are discussing this, I said, "I think we should get in."

1:45 She says, "Let's do it." So we get in and we also do Dollar-cost averaging. So every single day we buy just a little bit, so we'll have an average over time. - Yep. - And so I'm much more involved in the community. And I discovered this new thing, the second layer for Bitcoin, which is called Lightning, the Lightning Network. And this is really new. It really came up around 2018. - Is this part of, like, Bitcoin Cash?

2:07 Is that part of the same thing? - Nope. Nope. - Or that's a different thing? - Okay. - No. No. And I don't believe in anything but Bitcoin. - So you're a Bitcoin maximalist? - I'm a maximalist. Yes, I am. - You're like Justin, from production. - I'm not an a-hole, but I am a maximalist, yes. (John laughs) - [John] Neither is Justin. So that's good. - I will think of everything else as just coin. Yeah, for sure. (John laughs) So the Lightning, it's a second layer for...

2:26 'Cause Bitcoins all these problems, you know, it can take an hour to make a payment complete. It can be... - It's computationally heavy. - The fees can be expensive. There are a lot of things that, you know, of course were also telling me not to do anything with Bitcoin 'cause it's no good, it's not gonna work. And then the Lightning Network comes out, and it's basically like Venmo for Bitcoin. Now things are really fast. You know, you don't have your whole life on this Lightning wallet, you know.

2:52 You just have enough to do- - But it's still- - stuff with. - on the Bitcoin blockchain? - So, here's the Bitcoin blockchain, and underneath it you have the Lightning Network. So I can send stuff to you, you can send stuff to me, and then a settlement occurs on the blockchain. But you as a user don't have to know any of that. All you know is you can get Bitcoin in Lightning, which is usually spoken of in Satoshi's, which is one-hundred-millionth of a Bitcoin.

3:20 So currently, 30,000 Satoshi is $1. So just today, I mean, it could be 29, could be whatever it is. It fluctuates. But you can use this for just transactions amongst each other. And it's very, very quick and very efficient. And the fees are almost zero. The fees are very, very low. So this is a very good use of it. I'm into this. I set up a node, a Raspberry Pi, I am like, "Oh, man, this is some cool stuff that's going on here.

3:46 Dave, Dave, Dave, since they're now deplatforming people from PayPal," which by the way is still one of my main income mechanisms, "we need to have not just a censorship proof database," or resistant, I should say, to be fair, "but we also need censorship proof money flow. And here's an idea. What if we tie in..." 'Cause programmable money at this point. You can actually, you know, fire off money automatically based upon what you want it to be doing.

4:18 And anybody can now start programming your money which would... It's kind of the Valhalla of technology and money put... The idea of micropayments, which has always been promised, micropayments for content is... This is micropayments. We can have it where someone... You fill up your wallet, so your podcast app becomes your wallet, and you just put some dollars in there, it becomes Satoshi, it's Bitcoin. You can look at it in a dollar or whatever, euros, whatever... - But it gets converted?

4:48 - It gets converted. You put in 10 bucks. And these podcasts that I'm listening to, I wanna give them $1 per hour that I listen. It could be five. - Oh, okay. So you can set that sort of programmatically? - You can set it yourself. For an hour, I want it to be 10 bucks, or one buck, or 50 cents, whatever it is. And... - They'll get a bonus if I get to the end? - It could be, but wait for it.

5:14 So the minute you hit play, the timer starts going. And every minute, your app is going to send one 1/60 of that amount you've set directly to the podcast. No middleman. It's direct. - Yeah. Wow. - It's from you to the end guy. Wow. This is cool. And it's literally value for value. Play, pay. It's not pay to play, it's play to pay. See? So you're hitting play, you're sending money, and so we set this up.

5:42 - That's really powerful because that restores the thing that the Netflix model eliminated, which is there's no price discrimination, there's no... - Yes. - I'm paying for all of this, but how are... - Yes. - I'm watching, I'm bingeing "Stranger Things,"- - Yes. - but I'm not watching all the other crap you're putting on. - And I have to have five subscriptions. I gotta have all the pluses, you know, Disney Plus, Paramount Plus. I gotta have...

6:04 So it's costing me- - Yeah. Yeah. - an arm and a leg. - Yeah. Okay. - Now it's per property itself. So we set up a Mastodon group, podcastindex.social, and they came. "Here's all the freaks." And then we got like a band, like... And Dave and I are orchestra leaders. And we got a guy with a banjo, some guy playing a washboard spoons, you know, he got a harp, and they're all coming in with their ideas.

6:24 And enter the Boost. The Boost. The Boost, while you're listening to the show, so you're sending your little 1/60 per minute, "Oh, man, this is a great thing. I'm gonna give that person 1,000 Satoshis right now," which is, you know, 10 cents or whatever. Or, "I'll give 'em a buck whatever." Boost. Boom. And you get a little confetti, like (imitates explosion booming), like, you know, orgasmic confetti explosion. And the creator now gets 1,000 Satoshi, or whatever you want it to be.

6:53 Enter the next phase, this comes all from this group, Boostagram. Of course we're gonna have like a telegram message. It's a boost, so you can now enter a message, it goes with the payment. So now the podcaster not only gets value money into Satoshi, but also a message. And of course, people are now starting to do, "Here's a row of ducks, 22,222 Sats," which is like 80 cents, you know. And the message, like, "I love what you're doing. This is funny."

7:20 Now the podcaster can sit there and literally watch his or her phone and see value coming in. People listening in real time. People are listening to my podcast and they're sending me valuable stuff. It's small, it's less than a penny. They're sending me appreciation in real time while they're listening. This doesn't exist in any media form. And then, "Oh my god, there's a big payment." And they sent, "I love this. This was funny. This was a great joke," while they were listening to it.

7:51 So this takes off. And then we come up with what I think is the final genius idea, if I may say. It came... - You may say so yourself. - Dave is a Christian. I'm a Christian. This comes from God, we're convinced of it. - Yeah. Remember, pride is a sin there, buddy. - That's why I'm not proud. (John laughs) That's why I'm not proud. - All right. - I'm proud that God did this. I'm humbled that he did this through us.

8:11 And I mean that sincerely. The splits, the value split, come up with the idea that you, as a podcaster, can decide each payment, who it's going to. You can say, "Okay, I want John to have 40% and I'll take 40% 'cause we're both co-hosts on this episode. I want 10% to go to the producer, or 5%, and then maybe 5% to the guy who's doing the chapters and stuff like that." And it happens in real time.

8:41 So again, there's no... So the person who's listening sends this out and everyone gets their piece in real time automatically. - So it's a real time, essentially, equity contract being executed. - And Royalty system in real time. - So you're solving for the stuff that WGA and SAG are out there. - Oh, stay with me. - You know? - We're gonna break stuff real big now. Now, as a part of this, now you're like, "Oh my god, this is where the app guys come in."

9:10 The app should... If you're using an app, your app tells you, "Hey, when you use this app to listen to podcasts for free, we're going to take 3% of every payment you make, pre the split, to the podcaster." Actually we've expanded that. Now they can put it on top and there's other ways to do it, but just for the concept. So now, the software developer who's always gotten screwed and had to scrounge around for some premium thing that no one wants to do 'cause they want to use free software, they're in the money flow. (imitates explosion booms) Okay, so not hosting...

9:42 Anybody can now be a part of the money flow, and it's transparent. It's all open. You can see exactly what the splits are, exactly what... Not the money that's going or the messages, but the splits are public information because you put that into your RSS feed. This ignites something crazy. Because now people are splitting up their money with their co-hosts, with their producers, with their friends, with guests. I mean, there's all kinds of things going on.

10:07 Enter the next logical step, music. We have not been able to play music on podcasts for licensing reasons. You cannot get a license that will allow you to legally play licensed music, ASCAP, BMI, Harry Fox Agency, SoundScan. - Right, right, right. - Because there's a performance right, mechanical rights- - Master rights- - Master. - publishing rights. - All these rights- - Yeah, all that stuff. - that you just can't get around and they don't want you to figure it out.

10:32 You can't do it. - People wonder, where did that show go that I love that I saw in my childhood, and it's sitting on a shelf because the studio that owns it doesn't have the right to broadcast it 'cause of the music. - But there's a lot of musicians out there who put their stuff on Spotify, and after 100,000 plays get eight bucks, and they're sick of it. And what are we gonna do? So now we have a special system we've set up, which is just now starting.

10:58 I'm about to start a show on Friday called "The Boostagram Ball." Hello. And it'll be just music. We've been testing this for several months now. And there's all the apps... The big apps have already built this in. While you're listening to a podcast, and when the podcast plays a song, a piece of music, the wallet switches from the podcast to the music creator. So now your- - Yeah. Okay. - per minute stream or your Boost, if you really like the song, goes to the music person, who in turn, can split it up amongst the writer, composer, the bassist, the drummer.

11:39 We'll give the drummer, the drummer never gets... He always gets screwed. The drummer, the lead guitar player. We've now broken ASCAP, BMI, and instead of waiting 48 months for your penny to drip in, and they've invested it in the stock market and God knows what they're doing, you now don't need them. And people are making... If you go to wavlake.com, W-A-V-L-A-K-E, so wav lake really, you'll see all these songs and how many Satoshis they've made that people have sent because they like their song.

12:08 And they're making $100 in a day which they didn't make in three years on Spotify. This is going to change the media landscape. Give me 10 years. But I mean it's... - Well, you've been ahead by a decade plus... - It's always a decade. - More than once. - It's always a decade. - We've got seven more years to go. We've been doing this for three. This is, at the very moment, where... And I call on writers and actors, get out of the rat race.

12:36 By the way, there's too many of you. Sorry. Y'all got into the game. You believe that the streaming thing was gonna be the, you know, this great. We're all getting more money by not getting residuals. But then, oh surprise, a season is no longer 30 episodes, it's six hours and we're gonna give it to people all in one go. So you're not gonna make your money over the course of a year 'cause you didn't negotiate for residuals.

12:58 Yeah. Blah, blah, blah, whatever. The world has changed. Horse and buggy drivers also don't exist. But here's your opportunity. Look at this studio, look at what you're doing. It's so professional and it's affordable. You can do these things. You can make movies, all kinds... "Blair Witch" project. Anybody remember that one? That was a big hit? - [John] Well, I think... I mean, gosh. - And people will support you directly with more than you ever made before, because people value what you do.

13:28 Don't undercut yourself. Don't... I don't like saying don't, but people will value your work if you make an outstanding product, if you connect with them. You don't need the whole world to be watching to make a living off of it. Now, will we all become millionaires? Probably not. But will you be able to sustain it? Yes. I guarantee it. (screen whooshes) - If you enjoyed this clip, we've got more where that came from. Be sure to check out my full conversation with Adam Curry.

13:52 And one of the best ways you can help support the channel, is to subscribe to us (bell dings) so you won't miss our interviews and short videos as they come out each week. (screen whooshes) (bright music)