Name: #255 - Bitcoin Winklevoss Jake Paul | The Tim Dillon Show
Uploaded: 2021-06-06T07:07:24.000Z
Description: Watch the stand-up comedy video '#255 - Bitcoin Winklevoss Jake Paul | The Tim Dillon Show' from The Tim Dillon Show on Comedy Buff. Published 2021-06-06. Transcript available.

Watch the stand-up comedy video '#255 - Bitcoin Winklevoss Jake Paul | The Tim Dillon Show' from The Tim Dillon Show on Comedy Buff. Published 2021-06-06. Transcript available.

#255 - Bitcoin Winklevoss Jake Paul | The Tim Dillon Show

All right. So for the last panel, it's the Tim Dillon podcast.
Tim Dillon. Let's hear it for Tim. Yeah. Yeah. Yeah. Does this work? Yeah.
That's the kind of welcome I like. Bitcoin, everybody. We got a great paddle,
everybody.
Stick around. You ready? You want to announce everybody? We'll announce the
next, guys, and then we're rolling.
Tyler and Cameron Winklevoss from Gemini Capital. Yeah, Tyler and Cameron Winklevoss,
everybody.
They are here with us. Grab some seats. And Jake Paul. Jake Paul, everybody.
Thank you, everybody.
Woo! Go, let's go, let's go. Yeah, it's okay. Just sit down. Yeah, everybody.
And Elon Musk. No, I'm kidding.
Wouldn't that be good? You'd kill him. If we brought him in here, you'd kill
him. I know you animals would murder that man.
All right. Good to be here. Are you guys excited about whatever just happened
with El Salvador?
How exciting is that?
I don't know what happened, but something... Apparently, if you don't own
Bitcoin in El Salvador, they're going to kill you. And that's good.
I don't know. But explain what just happened, guys. Do you guys know?
I didn't hear it, actually. What happened?
They're accepting Bitcoin as a currency now.
They're accepting Bitcoin as currency in El Salvador. That's pretty fucking
cool. Right?
Let's go. Yeah.
And Tesla's not, so...
What'd you say?
Tesla's not, right?
What?
Tesla's not accepting it.
Tesla's not accepting it. No.
No.
No, we're bullish on El Salvador here. Fuck Tesla.
That's right.
El Salvador is the future. Tesla is not.
I'm about to fight Elon Musk next.
Yeah, right.
Jake, do you own any Bitcoin?
Yeah.
Of course.
Of course.
I bought my first Bitcoin eight years ago when I was 16. It was at $100. Stop
playing with me.
Fuck yeah.
Wait, eight years ago when you were 16 for $100?
Yes, sir.
Fuck yeah.
I put my whole landscaping earnings and Vine brand deal earnings into Bitcoin.
I had no idea what was going to happen.
Best investment to date.
Yeah.
You were landscaping eight years ago?
That is correct.
You've had a very interesting run.
Yeah, to say the least.
It's been a roller coaster from Vine to YouTube to Disney Channel to rapping to
knocking people
out.
Yeah.
Are you excited about your brother and Floyd tomorrow?
Yeah.
Look, I'm excited, right?
It's an amazing event.
Such a spectacle.
I'm sure a lot of people here are going.
I'm nervous, man.
I get more nervous for when my brother's fighting versus when I'm fighting
because I can't control
anything that's happening.
Now, are you nervous about Logan getting hurt?
Are you nervous about what are you nervous about?
Look, I think just anything in general, right?
He's fighting one of the best boxers in the history of the sport.
And I know he's prepared.
He's done everything right.
He's trained nonstop, trained his ass off.
And this kid can fight.
But you're going up against Floyd Mayweather, which is no joke.
And, you know, anything can happen in that ring.
And to see your family member in there, it's quite literally a death match, you
know?
So to sit there front row and watch that, like, if he starts getting punched in
the face,
I just, like, start to...
Yeah, well, he probably will get punched in the face.
He's definitely going to get punched in the face.
That does seem to be part of it.
If you're a mechanic, you're going to get dirty.
If you're a boxer, you're going to get punched.
It's crazy, man.
It's an amazing accomplishment, really, no matter what happens.
So to ask you guys a crypto question here.
There's a lot of other cryptocurrencies out there.
Why Bitcoin?
Why Bitcoin?
Why is it the inevitable, you know, reserve currency?
What about it do you think?
And what weaknesses does it have that other cryptocurrencies may be able to
exploit, if any?
So I think because it's fixed supply, it makes it the ultimate store of value.
It's also the first.
So there's a huge first mover advantage.
But no other cryptocurrency has the characteristics that make Bitcoin so hard
and sound.
Why we call it gold 2.0.
Does it have any weaknesses as a currency?
Is there anything that you would?
I know this is not the easiest room to mention that in, but I'm sure these guys
can handle it.
I'm sure they can handle it.
Is there any weaknesses you could imagine?
Not really.
Not really.
None.
None.
Okay, good.
That's good.
I think OJ Simpson's innocent, too.
Now, were you worried?
Were you worried when it lost a lot of value in what seemed to be very quickly?
No, because it gains value quicker, more often than not.
That's a good point.
And we think it'll be worth $500,000 a coin within the decades.
What is that price target based on?
It's actually a good buying opportunity.
That's what we call buy the dip.
Buy the dip.
$500,000 within a decade.
Within a decade.
And what is that based on?
The market cap of gold.
Okay.
Bitcoin's better at being gold than gold.
If you look at the characteristics, gold's actually, the supply of gold is not
fixed.
It's actually scarce, so it's increasing.
Bitcoin's actually fixed.
There's no technological breakthrough that will increase the supply of Bitcoin.
So it's actually better at being gold than gold.
And gold's market cap right now is $10 trillion.
Bitcoin's hovering around $1 trillion.
So if Bitcoin disrupts gold, which we think it will, that's our thesis,
then it has to be worth, its market cap has to be worth $10 trillion,
which would make each Bitcoin worth $500,000.
And that's, you know.
Yeah, that guy is on cocaine.
That guy's had a lot of fun over the last three days.
And that makes a lot of sense.
To talk about NFTs for a second, I know that that,
I don't know if that's popular here or not.
They're very interesting.
You know, we had dinner.
We talked about how other cryptos and NFTs are getting people involved in the
crypto space.
Do you see anything wrong with, do you think, I mean,
Elon Musk just tweeted something about a crypto called Cummies or Cum Rocket.
I don't know what it is.
Okay, we're not recommending it, guys.
Relax.
You don't have to boo.
This is not a financial...
Financial advice.
Yes, it's not financial advice.
But this thing went up 30% when you tweeted it.
So, is one guy having so much power ultimately like a bad thing?
Yeah, 100%.
Yes.
Right.
Perhaps.
For sure.
If Elon Musk is having a bad day, then we're all having a bad day.
That certainly seems to be it.
We need to switch the power.
We need a new nominee who can take over Elon Musk.
I like the idea that you guys could step in for Elon Musk because there's two
of you,
but there's really one of you.
That's what I like.
I like that.
That's what's good.
There's one of you, but there's two of you.
So, I think that's better.
But, and I mean, I'm not asking you guys to shit on Elon Musk for cheap YouTube
views.
But...
But that's what we're doing.
But, truly, is this a problem?
What does this hurt Bitcoin when it can just rise and fall on the whims of one
Twitter account?
This is a serious question.
Yeah, well, I think it's risen on its merits long term, you know?
So, Bitcoin is about a community.
It's a movement.
It's a revolution.
It's not about one person.
It never has been.
Maybe in the short term, it can be, you know, like we're seeing.
But I think over the long term, it transcends one person.
Okay.
And now, I, a lot of people have gotten upset about that it uses a lot of
energy to mine.
But I like that.
I like the earth hot.
It's nice.
I like it hot.
Miami is lovely.
It's pretty hot down here.
Miami is lovely.
So, I say use more energy to mine it.
Truly, use more.
I think more.
I think lava.
Whatever you want to use.
If you could build Bitcoin mines in volcanoes, let's fucking do it.
Let's stop being pussies.
Truly, who gives a fuck?
It's nice.
But.
Jack Dorsey is a pedophile.
Okay, well, this audience is, um...
What conference is this again?
Yeah.
This is a very strange...
Okay, well, I don't know that that relates directly to blockchain.
Jake, you've been talking a lot about fighters not getting paid.
Let's just take a break from crypto for a second.
What?
You got into the boxing world.
You're fucking it up.
People are not happy.
And then you started saying that boxers are getting fucked and UFC fighters,
too.
Yeah, look.
I mean, at the end of the day, these fighters are getting into the ring and
risking their lives.
You know, and risking injury.
And it's one of the hardest sports, if not the hardest sport in the world.
And you have to dedicate your life to it more than any other sport, I believe.
And people like Dana White, who own the UFC, are basically creating a monopoly.
UFC fighters, out of any organization, out of any league that there is,
the owners take the most amount of the cut versus the fighters.
Which, it's a big topic.
And me and my brother are creating this movement forward to help fighters
increase their pay.
Because if you're in the UFC, your boss is Dana White.
So you can't be like, hey, I don't think we're getting paid fair.
Hey, this isn't right.
Because he'll just cut you and throw you off to the side.
But I'm creating a voice for the fighters.
And I'm creating a voice to say, fuck Dana White.
Fighters should be getting more pay.
And they are the content.
You know, without them getting into the ring, the UFC wouldn't have the content
that they sell for hundreds of millions of dollars.
These guys are getting paid pennies on the dime.
And it's just not fair.
And so what I'm doing, my movement forward, is showing these fighters you don't
need a promotion, you don't need a promoter, and you don't need a sign-in to
these longer deals.
Create your own hype.
Use social media.
And there's going to be a switch in this narrative over the next couple of
years.
Dana White doesn't make good fights happen.
He doesn't make the fights that the fans want to see because he can't pay these
fighters enough or doesn't want to pay these fighters enough.
John Jones versus Francis Ngannou.
One of the biggest fights that everyone wants to see.
He won't even pay them $10 million each to make the fight happen versus some no-name,
or not no-name, but like some smaller boxers will get paid $20, $30 million for
a fight because they're in control of their own promotions.
So, yeah, I just feel bad for these UFC fighters.
They need to get more pay, and Dana White's the one in control of that, and
they can't say anything.
They can't speak up to their boss.
Does Dana White like you?
No.
No, not at all.
He is, I think he hates me more than anyone in the world right now.
Wow.
Because, look, I'm trying to take money out of his pocket, give it to the rest
of the fighters.
You know, I think he's a joke.
I think he's a chump.
He started off as a cardio kickboxing instructor and got lucky with the UFC and
now thinks he's the coolest person on earth.
I'm going to take Dana White.
Why his description of Dana White, why does that also not describe Elon Musk?
What did you say, Tim?
Like, his description of Dana White is like a guy like, when Elon Musk goes in
and does all these things, he seems to be trolling and having a lot of fun.
Is he ultimately a serious person?
Do you guys think he's, like when he says, come rocket to the moon, does he
believe that?
Does he believe in the fundamentals of come rocket?
Does he believe that come rocket is a good store of value?
I mean, no, truly, or is this guy like a carnival barker who's having a lot of
fun and then on the other end there's people's lives that he's playing with?
Yeah, that's probably a joke.
But he does own Bitcoin.
He is a hodler as far as I know.
Yes, he is.
I don't know if he's buying come rocket.
Right, he's just tweeting that.
I don't think that's on the balance sheet of Tesla, right now at least.
But Bitcoin is.
I know Cathie Wood thinks he's long on Bitcoin and that other people are pressuring
him to sort of talk about the climate change stuff and the mining.
Is that true?
Is Cathie right about all this or is she just saying whatever?
I don't know.
I know that she's dating Floyd Mayweather.
Cathie Wood is dating 