Bitcoin: The Exits Are Closing

Join the private Bitcoin forum:
www.bitcoinuniversity.com/bit...
In this video, I discuss how the Nigerian government and central bank have increasingly sought to prevent Nigerians from escaping from the naira into Bitcoin.
In addition to blaming "speculators" and "crypto investors" for the naira's collapse (which can be attributed rather to Nigerian central bank money printing), the Nigerian government is now seeking to prevent p2p Bitcoin transactions, which is clearly impossible.
We can expect something similar to happen in the US, as the US dollar continues to lose purchasing power and people seek to exit the fiat system into Bitcoin.
Holding a spot Bitcoin ETF or leaving your BTC on an exchange will not provide the same protections against monetary debasement and confiscation.
For this reason, it is very important to buy real BTC and hold it on a hardware wallet.
Learn to use the tools today, before the exits have been completely closed.
Not investment advice! Consult a financial advisor.
Nigeria used to be more pro-BTC:
bitcoinmagazine.com/business/...
bitcoinmagazine.com/legal/nig...
Food price inflation in Nigeria:
www.bloomberg.com/news/articl...
Nigeria Blocks Access to Bitcoin Exchanges:
www.nobsbitcoin.com/nigeria-b...
Nigerian Authorities Blame Binance for 70% Naira Devaluation, Move to Issue Arrest Warrant Against CEO:
www.nobsbitcoin.com/nigeria-b...
The Naira Crisis Is Fueling Bitcoin Adoption In Nigeria:
www.nobsbitcoin.com/the-naira...
P2P crypto ban imminent as Nigeria calls crypto a national security issue:
techcabal.com/2024/05/03/p2p-...
My Favorite Bitcoin Desktop Software (Sparrow Wallet):
• My Favorite Bitcoin De...
Coldcard hardware wallet:
coldcard.com/
Blockstream Jade hardware wallet:
blockstream.com/jade/
The exits are closing:
/ 1786489568465678542
"Bitcoiners Caused The Inflation":
• "Bitcoiners Caused The...
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#Nigeria
Disclaimer
Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this KZbin channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.

[@Bitcoin_University]

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

[@kathrynjanacek5751]

Mrjj🎉yty😢😮. 😢😮h uI y youho

[@s.sublime7061]

I see New btc university vid, i click and like it before it starts.

[@Bitcoin_University]

Thank you

[@Feracitus]

that is the way.

[@madhatter2687]

Make it so

[@HarryTwoDogs]

Had an acquaintance who inherited from her grandmother a large beautiful old home in a wealthy section of the Philly Main Line. In doing some renovating, they found a not-small cache of gold bars stashed away in the basement obviously hidden away during the US 6102 years. When I say "not-small" I mean big time life changing "not small." I don't really consider this a happy story as it reminds me of the potential BTC future, where those who earn and purchase it may never enjoy spending it. It's more than likely the widowed grandmother never even knew it had been stashed away by her husband.

[@Bitcoin_University]

Great story

[@Krusador42]

Gold can be found again, but Bitcion?

[@AnthonyJarrah]

​@@creasunset Divisable and transportable ;)

[@Darin.Pearson]

That story is a good reminder of why Bitcoin will not survive generational successions. As of April 2024, approximately 37% of Bitcoin has been permanently lost due to inaccessible wallets, destroyed private keys, negligence, forgotten passwords (we all know the story of Stefan Thomas), hardware failures, etc. And that is only in 15 years since Bitcoin was created. In only 60% of one human generation, 37% of Bitcoin is gone forever. We haven't even really begun to see the losses that will occur as retail Bitcoin owners die. Inexplicably, one of the responders, @creasunset , in this thread countered with "when some Bitcoin is forgotten or lost, scarcity increases and the value is equally distributed across all remaining addresses. Since Bitcoin is highly divisible, it remains useful." The level of ridiculousness in this comment is beyond comprehension. Don't worry current Bitcoin HODLer, if you permanently lose access to your Bitcoin, the rest of the HODLers get richer. I'm endlessly fascinated by the lack of logic and self-awareness of people who make such arguments. When I challenge them on that, they always counter with "That will never happen to me. I something, something, something..." about how they are smarter than the people who lost their Bitcoin. Yes, that's the point. You are smarter than them. You are smarter than me if you can manage your Bitcoin. You are probably smarter than 99% of the people who will never own Bitcoin because you have to be super smart to own it and not lose it or get it stolen.

[@Darin.Pearson]

@@creasunset Excerpt from my response to the original post where I reference your comment...Inexplicably, one of the responders, @creasunset , in this thread countered with "when some Bitcoin is forgotten or lost, scarcity increases and the value is equally distributed across all remaining addresses. Since Bitcoin is highly divisible, it remains useful." The level of ridiculousness in this comment is beyond comprehension. Don't worry current Bitcoin HODLer, if you permanently lose access to your Bitcoin, the rest of the HODLers get richer. I'm endlessly fascinated by the lack of logic and self-awareness of people who make such arguments. When I challenge them on that, they always counter with "That will never happen to me. I something, something, something..." about how they are smarter than the people who lost their Bitcoin. Yes, that's the point. You are smarter than them. You are smarter than me if you can manage your Bitcoin. You are probably smarter than 99% of the people who will never own Bitcoin because you have to be super smart to own it and not lose it or get it stolen.

[@joeyoaz7593]

Wake up babe, new bitcoin university vid!

[@formetoknow540]

Don't put something that is decentralised in a centralised place- andreas antonopoulos

[@mjmj240]

First they ignore you, then they laugh at you, then they fight you (I guess we know what stage we are in now)

[@BobE_Nagesh]

.....and then we win!! For those of us that have our BTC in cold storage, we have already won!

[@marlowops]

Then it goes up and up and up then it tumbles down to ZERO.

[@ALF782]

If they fry the internet for a few weeks where does that leave you?

[@dot1298]

@@ALF782 ..in a world ravaged by a Carrington-Event solar storm!

[@silverbladeTE]

@@dot1298 or serious pandemic (social collapse with anything more than 5% lethality), nuclear war (we are WAY down the road to tactical nuclear war), or AI cracks the system and makes cryptos pointless (see the Enigma Machine: what one person creates, another ends up cracking) And...just a bad enough economic mess will prevent most folk having the money to access the Net, the knock on of that means the Blockchain simply cannot work. Server farms worldwide shut down, food is more important than phones/computers.

[@kevinonorato7223]

Thanks for mentioning the gold buyout of the 1930's. They worked very hard to buy all the American gold at one price and the price doubled shortly after. They used patriotism and social pressure to get everybody on board.

[@Bitcoin_University]

It was much worse than that. The threat was made over the barrel of a gun: "A violation of the order was punishable by fine up to $10,000 (equivalent to $235,000 in 2023), up to ten years in prison, or both"

[@44door22]

Yes but it was a time when every person had gold. It was everyday money in pockets and purses. Today almost no one owned gold. They will go after private vaults and etfs. Do you do any one on one tutoring on btc or can recommend someone or somplace?

[@TheVelvetvoicecoach]

This information is really brilliant. Showing what has happened in Nigeria & showing whats slowly happening in USA. This channel is a living oracle. Thank's Matthew.

[@Bitcoin_University]

Thank you!

[@zcollincollin8939]

I’ve been to Nigeria. The only really nice building in the capital is the Central Bank

[@Bitcoin_University]

It's funny how that works. . .

[@Atlas_21]

@@Bitcoin_University it's just a COINcidence 🤓

[@gustavfourie1867]

Same in Zimbabwe. Lovely first world architechture

[@coreyoliver3182]

This is why you don't trade this asset. Hold it and be glad you were able to get some in self custody.

[@Bitcoin_University]

Yes, great point

[@rongreenberg1]

What’s the true value of 1 million dollar if you can’t cash it out?

[@Bitcoin_University]

@@rongreenberg1 You can spend the BTC directly for goods and services-- no need to convert to USD first

[@coreyoliver3182]

@@rongreenberg1 1 million dollar Bitcoin will be wanted by everyone. Offramps will be all over the place..on ramps...not so much.

[@BobE_Nagesh]

@@rongreenberg1 Circular bitcoin economies are springing up all over the place - faster than the governments can plug up the holes of their sinking ships!

[@fionamcleod612]

Dear oh dear, everything is a fight to keep in this world. They shouldn’t be allowed to do that. They are always one step ahead where every corner is covered to benefit them. 🤷‍♀️ Thank you Matthew for the warning. Have a great day.

[@bradymac7206]

Her: "He's probably thinking about other women." Him: "When is the new Bitcoin University video going to come out today?"

[@aaroniouse]

Her: "Are you gay? Why don't you ever call me?" Him: "I love Bitcoin now."

[@know_ye_not]

Thank you Matthew!!! You are one of my heroes!!!

[@StuffBudDuz]

I'd been caring for an injured wood frog for the past two weeks, visiting him every day up by the vernal pool near my home. This explains why he was gone yesterday.

[@Bitcoin_University]

Weirdest comment of the day, but also oddly touching

[@psoidonym2389]

@@Bitcoin_University : 🤣

[@Rombbb]

@@Bitcoin_University 🤣

[@PierreEmmanuelDOCQUIN]

I'd like to order the same stuff my man @stuffbudDuz been having please. Deliver before next Bitcoin University vid please. Thanks a million.

[@jesusisgod8153]

Load up on Bitcoin while it’s still cheap under $1M 🚀🚀🚀🚀🚀🚀

[@Fine_Times]

Thank you Matthew, so informative as usual.

[@bigboiwaffle5076]

Your early warnings have always worked wonders and this one is no exception. Thank you Matthew!

[@jonschlottig9584]

I didn't have high hopes when i clicked on this. I'm glad i did! Great video - subscribed!!!

[@jackblack1097]

I sleep like a sheep since my oranges are on a multisig.

[@keithsinkula1235]

Sold my FBTC today. Planning to take the proceeds and buy actual BTC and store it in cold storage.

[@thistimeisdifferent]

Correction, you plan on PAYING TAXES on your gains, then take what left over and buy actual btc and store it on a cold wallet. Just trying to help. 👍

[@keithsinkula1235]

@@thistimeisdifferent lol, yeah. Can’t forget the taxes part

[@drx1xym154]

@@thistimeisdifferent -- short term cap gains are not as brutal, though... that is where they get you though.

[@thistimeisdifferent]

@@drx1xym154 that’s right

[@petervanrensburg687]

@@drx1xym154 yeh ask Roger Ver about how unrealised profits on Capital Gains taxes worked out for him. Oh wait, you can't, cuz he's in jail. This is the cruz of what this video is warnign us about.

[@johnnymidas5879]

THANK YOU FOR YOUR TIRELESS CONTRIBUTIONS MATTHEW..GOD BLESS ❤

[@Ticonderoga12]

Necessity is the mother of all inventions.

[@jdr956]

I can never get enough of your content. This channel is underappreciated

[@Bitcoin_University]

Thank you-- what should I cover next?

[@PierreEmmanuelDOCQUIN]

I've seen requests for a video about countries that could be bitcoin friendly. Must say I'd be interested as well !! I'll be 50yo in just 3 BTC cycles, and I'm looking to elect my future place of living the free life.

[@harriedebullebak858]

Thank you for you work 🙏🏻

[@Atlas_21]

A video about countries which could be potential Bitcoin friendly heavens in the future would be nice!

[@BobE_Nagesh]

Agreed. Along with circular bitcoin economies within countries.

[@themomista7175]

Thank you again for the warnings!!!

[@bootsieultrawave6553]

My absolute fav BTC Channel. Danke Matthias!

[@Bitcoin_University]

Bitte schön

[@XPATJACK]

Thanks again Matt 👍

[@jacquesdutoitpvt]

Thanks Matt - my only daily watch.

[@Johntron08]

Excellent video, thanks!

[@BenBalance]

Thank you again for all the very insightful information. Appreciate all your efforts. Keep up the good work.

[@astromatheo_pl6782]

Thank you

[@OMGWUNSIU]

Wow, been a subscriber for a few months now and I just found this video. There’s a lot there. It’s deep. Six months ago I didn’t understand BTC at all. Around Christmas 2023 it finally clicked and I had my aha moment. Since that time I have been buying BTC every week. Don’t plan on selling it anytime soon. Thanks for what you do Matthew.

[@ivansophianihal6189]

Thank You

[@redplanet76]

You make solid points. Thank you.

[@flyingsnow311]

Super Video as i asked myself those questions and you confirmed my fears more or less. Thank you ❤

[@TheBitcoinGospel]

Great reminder to get your Bitcoin off the exchange!!! Thank you!!

[@levelupmonkey3488]

Thanks Matthew for this quality content 🙌

[@vmv5725]

Good morning Bitcoin university 🔥

[@BatmanBoss]

Thanks Matt

[@STP134]

Thank you, Matthew!

[@CabanaD]

Was waiting for this topic from you. Almost like clockwork.

[@joaoverissimoalmeida2364]

This content is the Best!!! Thank you

[@DonnaPKelly]

I've been watching Nomad Capitalist larely (just to get some ideas. His mantra "Go where you're treated best" is definitely starting to appeal to me.

[@Bitcoin_University]

Yes, great channel

[@NarwhalChaser]

@@Bitcoin_University Matthew, would you ever consider doing a life advice video relating to what Nomad Capitalist touches on in their videos? It really seems like in 10-15 years from now bitcoiners will want to 1) flee to countries with governments that are less powerful/more BTC friendly and 2) potentially renounce citizenships, especially for US citizens. In light of the recent proposals around capital gains, it seems like best case scenario is that govts try to hike up cap gains taxes on Bitcoin. At worst, they’ll move to confiscate. It legitimately might be ideal to renounce while still below the exit tax threshold and move somewhere else

[@bitgeist21]

Really great video. This is the kind of information that needs to be pushed out. I'm subscribed.

[@76063co2]

You are doing good work, sir.

[@I_AM_SOPHIA_SAMBRAHAM]

Fees are already getting too high to be practical to use Bitcoin in daily transactions. What will happen when the average person is forced out of the market entirely for direct p2p? Yes layer two solutions might be cheap and fast by then, but what will stop colluding governments from just decoupling digital gold from layer two solutions like Nixon decoupled physical gold from the dollar in 1971?

[@justintie]

Litecoin transaction fees are 1 cent

[@MMUS_23]

Crazy, sometimes it’s hard to believe that this is actually happening.. thanks!!

[@Originalimoc]

Thanks for reminder

[@mmc1999]

Great stuff

[@Britt0nYT]

Thank you for your work.

[@o4pureh2o]

Thanks Mathew

[@andydarbyshire4933]

Great report. Thnx

[@vitorreis9094]

Great video and explanation of things to come!

[@pran10000]

Matt you're the best❤

[@mjayy907]

Wow. Are you from the future cause this is exactly what's going to happen (very likely). Good info, thank you!

[@user-mi6qr6jh1f]

I really enjoyed your book Recommendation”The Mandibles” , I often think of the scenarios presented within the book when I watch videos like this.

[@Bitcoin_University]

Yes, I love that book

[@rodneydowd4739]

Grand job on the video ❤

[@swayp5715]

Thank you.

[@MrCoreyTexas]

Interesting point about FDR. Every class I ever took in public school lauded and praised this criminal

[@pepsico815]

Thank you Matth-yew

[@JefRdam]

Great info as always

[@djcfair]

Great NO BS content here

[@davidmella1174]

The Nigerian currency may die but bitcoin is eternal.

[@TheHaughtyOsprey]

Bit coin only exists if you have an internet connection. My buddy came to my office to sell me on it. I keep a cell jammer in my desk. I offered him $10k in gold (at the time 8oz) for $2k in bitcoin. He couldn't do anything within a 75 foot radius of my desk. He had about $1,200,000 in bitcoin (early 2020) and couldn't afford to pay attention to what I was saying while sitting at my desk....

[@deeprollingriver52]

@@TheHaughtyOspreylooking at it that way…..your online banking needs the internet. If the internet goes down, so does your bank account. And IRAs. And your savings. And everything else

[@iansilver4853]

I guess your friend had never heard of Opendime, just one of several ways to transfer Bitcoin to someone without needing an internet connection. You could also do it with 12 words.

[@Singleraxis]

@@deeprollingriver52 no one handles in pure resources anymore, unless you're some big corporation, bank or country lol

[@lurker668]

​@@TheHaughtyOspreywithout internet your dumb comment would not be here... Maybe you should make us a favour and keep that jammer ON...

[@westra4]

Thx Matthew

[@Godsservant778]

Great video

[@lifeinruralthailand]

New to the channel - quick question - do you object to using ledger as a wallet? Thanks for any info 🙏

[@denissego8554]

Tnx

[@keithdavis9897]

fantastic video for provoking thought. Nobody trust governments and I have always believed the ETF's had ulterior motives.

[@basicforge]

I'm not sure the ETFs are as problematic as whatever laws may be created to make it illegal to spend crypto.

[@Column1]

This was a great show.😆

[@karenraphael5575]

Thanks Matt 😁

[@bluesguyhorsebox]

Hi Matthew, can you please make a long form video going into detail about your background, and detail your bitcoin journey up to current day. As a viewer of every one of your videos, i'd love to hear more about you and your journey. Love from Ireland!

[@yankeesuperstar]

I think the average person wouldn’t understand the federal bank monetizing federal deficit spending. This is the best technology channel in existence.

[@01menyou]

Good warning.

[@TheFinRevolution]

You do great content

[@Adriano-wg2em]

great!

[@sf-dc2dl]

love it.

[@the-coop]

I like your content, one issue I have is that I see monetary policy and interest rates as the same thing. They can print money but they and we are victiims to the snapback later via interest rates and inflation.

[@arachtos]

Thank you very much! This comment was added to help the algorithm in the hope that your videos get all the views you deserve.

[@Bitcoin_University]

Thank you

[@600goa]

Great video Matt - I'm starting to think history always repeats itself. In the UK major banks do not let you deposit fiat into coinbse to purchase BTC. Isn't this crazy?

[@dcnchrislincoln-ur7iu]

So any issues/concern using Unchained, Swan or River which allows using own cold storage?

[@basicforge]

What good will self custody be if there will be no way to use your crypto to pay bills or buy things?

[@awesomeness7117]

I think people should be more concerned that the entrances are closing

[@DouglasCMills]

Thanks for these very important updates. Keep us informed of future wallet closures like MUUN. I offloaded from from Phoenix because of your report. I’m a cold card Q holder now. ❤

[@pran10000]

Is Muun closed? I had some says there😢

[@gusgalvanini]

Good morning Matt😄

[@diceinavice]

Great video. I think what might be different now versus the FDR years. Is that a lot of mutual funds, banks, and other institutions will be holding ETF shears right along with the individual investors. I believe it will be much harder, close the doors because of this. Words, there would be much more pressure on the government to not shut the doors or orchestrate some sort of haircut.

[@patrickready7862]

Love the video Matt. Quick question, do you think they will choke off self custody by saying Bitcoin on Coinbase or the ETF are the only legally recognized BTC? Unchained and other BTC firms are validating BTC purchases and not allowing non KYC BTC on their platforms...

[@MikeStillUK]

Bitcoin will win 💪

[@metalgirl]

Thanks great message!!

[@Len_J_]

Fascinating video. But even if you own it in a wallet, you need to put it on an exchange to sell though?

[@joyfulexistence]

Don’t forget that after the “ they fight you” part, comes……You Win.

[@Danny-gi2gc]

Thanks very much for this bit. A friend’s friend is asking: What is the maximum bitcoin amount per cold wallet that makes sense to you? Thank you!

[@user-ek7lc3po5z]

Thank you Matthew. What about Bitcoin Core or Knots wallets? Are they safe to store your BTC or hard wallets are better option?

[@MrJaydiction]

👏 👏 👏

[@bullsharkdb]

Completely agree with you BTC Uni, I would only add to your plan to change one's address to one of the tax heavens countries for crypto. For those US citizens to finally resign to your citizenship and get another one, as i believe there is not worst country in terms of tax dictatorship than the US through the IRS, in the world. Time to develop a plan to secure not just your cryptos but the value of it. The more BTC and cryptos will pump the more difficult will be to utilize its value whether in fiat currency, and or stable coins if ones needs to purchase or have enough fiat to live la vida loca.

[@FloridaBackroads]

Another great lesson. Thanks for doing these. Question: do I really need Sparrow if I already have a good hardware wallet?

[@Bitcoin_University]

You'll still need software to connect that hardware wallet to the Bitcoin network through your own node, or someone else's node. Sparrow provides this connective software

[@ldwahl6678]

Appreciate your topic. I have long asked about such a happening like blocking off ramps, yet no one will touch it. I have a little bitcoin, yet if I want to sell I will have to pass through coinbase or other like companies. My speculation is that we will be required to merge with whatever US coin develops. So when I choose to offramp, there will definitely be a reduction in price.

[@Bitcoin_University]

If the exchanges are closed globally, you can just spend your BTC: kzbin.info/www/bejne/fKWQZZyrfJmoZqM&ab_channel=BitcoinUniversity

[@isaacray9405]

Thanks again Matthew. I would like to see more speculation on what the pros vs cons of kyc btc that we send to ourselves. Like its great if i have self custody but if i can't spend it without the feds cracking down then whats the point?

[@StarshipTr00per]

Its my first time watching one of your videos. Very informative and to the point. Im in germany and do my basic trading with binance, but I leave nothing there. Initially because of what happened with FTX but now I've got an even more powerfull reason ... Governments. Subscribe .

[@jeremiahanderson1159]

Spot on ❤ 1:19