Episode 255 · The Ben Avery Era
#255 - Bitcoin Winklevoss Jake Paul | The Tim Dillon Show
Jun 6, 2021 · 57:37 · 383,000 views · 22 segments, 131 moments indexed
Live from the Bitcoin Conference in Miami, it's Jake Paul and The Winklevoss twins. They handle a few hecklers, talk Jake's career as a professional boxer, and where Bitcoin's price will be in a year.
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- 1 min
Cold Open: Introducing Jake Paul and the Winklevoss Twins
#Tim opens by introducing his panel guests Tyler and Cameron Winklevoss and Jake Paul at what appears to be a Bitcoin conference, joking about bringing Elon Musk out.
4moments
- Tim Dillon podcast begins with applause
- Introducing Tyler and Cameron Winklevoss to the panel
- Jake Paul joins the guests on stage
- Tim jokes about Elon Musk also being present, then clarifies he's kidding
- 6 min
The group discusses El Salvador accepting Bitcoin as currency, Tim needles them about Tesla not accepting it, and Jake Paul recounts buying Bitcoin at 16 with landscaping money, plus talk of his brother Logan fighting Floyd Mayweather.
11moments
- If you don't own bitcoin in El Salvador, they're going to kill you.
- El Salvador is accepting bitcoin as currency, but Tesla is not.
- Jake bought his first bitcoin eight years ago when he was 16 for a hundred dollars, using landscaping and Vine earnings.
- Jake's career trajectory from Vine to YouTube to Disney Channel to rapping to boxing.
- Jake is more nervous watching his brother Logan fight Floyd Mayweather than fighting himself.
- Bitcoin's fixed supply makes it the ultimate store of value with first-mover advantage over other cryptocurrencies.
- Tim compares Bitcoin's weakness to the claim that O.J. Simpson is innocent.
- Bitcoin gains value quicker and more often than not, making losses a buying opportunity.
- Bitcoin could reach 500,000 per coin within a decade if it disrupts gold's 10 trillion dollar market cap.
- Bitcoin is better at being gold than gold because its supply is fixed, while gold's supply keeps increasing.
- With gold's market cap at 10 trillion and bitcoin at 1 trillion, disruption math points to 500,000 per bitcoin.
- 2 min
The Winklevoss twins lay out their thesis that Bitcoin's fixed supply makes it superior to gold and predict it will reach $500,000 within a decade, while Tim mocks their cocaine-fueled confidence.
5moments
- Tim asks about NFTs and whether they're getting people involved in the crypto space.
- Elon Musk tweeted about a crypto called Cummies or Come Rocket, and it went up 30% on his recommendation.
- Tim jokes that if Elon Musk is having a bad day, then everyone's having a bad day, and suggests they need a new nominee to replace him.
- Bitcoin rising and falling on the whims of one Twitter account — does this actually hurt the cryptocurrency long-term?
- Bitcoin is about a community, a movement, a revolution, not about one person.
- 3 min
Talk turns to NFTs and elon-tweeted coins like 'come rocket,' with Tim pressing on whether one man's tweets having so much market power is a problem, before Jake Paul pivots to fighter pay and Dana White's control over UFC purses.
6moments
- Tim likes that Bitcoin mining uses a lot of energy and wants the earth hot, even suggesting building mines in volcanoes.
- UFC fighters risk their lives in one of the hardest sports and dedicate more to it than athletes in any other league.
- Dana White and UFC ownership take the largest cut compared to fighters of any sports league or organization.
- Fighters can't speak up about unfair pay because Dana White will cut them and throw them to the side.
- Without fighters getting in the ring, the UFC wouldn't have the content they sell for hundreds of millions of dollars.
- Jake Paul's movement shows fighters they don't need promoters or long-term deals and should create their own hype on social media.
- 2 min
Jake Paul explains his campaign against UFC's Dana White for underpaying fighters, calling him a former cardio kickboxing instructor who got lucky, while Tim compares him to Elon Musk as a carnival-barker type figure.
4moments
- Dana White won't pay Jon Jones and Francis Ngannou enough to make the fight happen, but smaller boxers get paid 20-30 million because they control their own promotions.
- Jake Paul says Dana White hates him more than anyone because he's trying to take money out of Dana's pocket and give it to the rest of the fighters.
- Dana White started as a cardio kickboxing instructor, got lucky with the UFC, and now thinks he's the coolest person on earth.
- Tim asks why Jake's description of Dana White also doesn't describe Elon Musk.
Dana WhiteJon JonesElon MuskFrancis NgannouUFC
- 3 min
Tim reads the Sheath Underwear ad and spins an increasingly horrific fictional 'war hero' backstory for the founder, involving a shot newborn baby, that he keeps escalating for shock value.
7moments
- Tim describes a carnival barker playing with people's lives on one end of the spectrum.
- Kathy Wood thinks Musk is long on bitcoin and that people are pressuring him about climate change and mining.
- Tim reveals that Kathy Wood is dating Floyd Mayweather and saw them together last night.
- Winklevoss twins say they would never sell their bitcoin unless they were buying something.
- Tim introduces Sheath Underwear, calling the founder a war criminal and describing the product's pouch design.
- Tim tells the story of Robert Patron, the underwear inventor who was a soldier stationed in Fallujah.
- Patron delivered an Iraqi woman's baby in front of a hospital, then immediately shot it in the head.
Robert PattonElon MuskKathy WoodFloyd MayweatherWinklevoss twins
- 2 min
Tim continues the fabricated Robert Patron war-crime saga with a story about a bomb hidden in a dog given to Iraqi children, then a bit about him touring Abu Ghraib, all while repeating the Sheath discount code.
3moments
- Tim describes Robert Patton's atrocity of shooting a baby in the head and eating it in front of the mother.
- A village dog in Tikrit was given what appeared to be a bone but was actually an explosive device, detonating in front of Iraqi children.
- Patton inspected Abu Ghraib prison and immediately thought the guards were being too soft on detainees.
Robert PattonAbu GhraibTikrit, Iraq
- 2 min
Tim pitches Certified Piedmontese Beef, praising the lean, grass-fed cuts, then dwells on how the website URL 'cpbeef.com' sounds like child porn and razzes his producer Ben for laughing about it.
6moments
- Tim has been eating Certified Piedmontese beef for the last month and loves it—Italian cattle breed now raised in Nebraska on family ranches.
- The beef is all-natural, lean, and doesn't sacrifice flavor or tenderness, offering a healthier alternative to fatty cuts.
- Grass-fed, grass-finished beef available and ships to all 50 states; Joe Rogan loves it.
- Ben won't stop laughing because the domain name is cpbeef.com, which Tim finds ridiculous while trying to deliver the ad seriously.
- Tim insists he believes in the product because he uses it, and Ben used it yesterday, but can't get through the pitch without laughing at the acronym.
- The website will not contain child porn; it contains grass-fed, tender cuts of meat at 25% off with code "tim dillon."
Piedmontese beefJoe Rogan
- 2 min
Tim polls the crowd on whether they'd sell their Bitcoin to save a kidnapped mother or child, mocking the die-hard 'never sell' mentality and riffing about Liam Neeson saving people via Bitcoin.
6moments
- Tim asks the audience if they would sell Bitcoin to save a kidnapped family member—only one person says yes.
- Tim observes that the rest of the audience is actually thinking about it, showing they value Bitcoin holdings over family ransom.
- He jokes that mom will figure it out because she depends on fiat currency, calling her a geriatric.
- Tim suggests sending Bitcoin to Liam Neeson's wallet instead to save the kidnapped mother, which would change the narrative of every Neeson film.
- Audience question: Tim asks whether the financial system in America and the fiat system can be salvaged.
- Tim notes that Jake moved to Puerto Rico because he loves the money system, and brings up Jake's interest in NFTs.
Liam Neeson
- 4 min
The Winklevoss twins argue the US financial system's deficits are unsustainable, then the conversation shifts to NFTs as a natural evolution of art and gaming skins, including Jake Paul's $15,000 digital racehorse.
9moments
- Tim compares video game skins in Call of Duty and Fortnite to NFTs as a natural extension of how younger generations already think about digital ownership.
- He explains why browsing art on NFT platforms like Nifty Gateway appeals to him more than visiting traditional galleries.
- Digital art as a medium won't cannibalize traditional art; it's just a new canvas alongside oil and canvas, like street art didn't replace other forms.
- Tim brings up absurd examples of art valuations—Lindsay Lohan NFTs and duct tape bananas at Art Basel—to highlight how subjective pricing is across mediums.
- His business manager is breeding NFT horses, and Tim admits he bought a digital racehorse for fifteen thousand dollars.
- The guest explains the economics of his fifteen-thousand-dollar digital racehorse and its stud fees.
- Jake describes owning pieces by artist Philip Hodes and his preference for animated 3D futuristic NFT art, citing Eminem's NFT with marching soldiers and skulls as particularly cool.
- An NFT can combine visual and audio together in ways a Warhol can't—you get a more immersive multimedia experience.
- NFTs are programmable like Bitcoin; artwork can change color in fifty years, on your birthday, or based on other triggers that offline art cannot do.
NFTsEminemLindsay LohanAndy WarholCall of DutyFortniteArt Basel
- 4 min
Discussion of whether governments like India or the Fed could outlaw or compete with Bitcoin, and how the Winklevoss twins frame Bitcoin as a blueprint to decentralize the internet and platforms like Twitter and Facebook.
10moments
- Tim asks whether governments will outlaw Bitcoin and if the Fed will issue central bank cryptocurrencies.
- Shutting down Bitcoin would require shutting down the internet, though Tim jokes that governments like China and North Korea might actually do it.
- Big tech drives the US economy, so cutting off Bitcoin would mean cutting off too much—governments have to work with it rather than ban it.
- Tim asks how Bitcoin adoption makes the internet freer and less monopolized when a few major companies currently control everything.
- Bitcoin serves as a blueprint for decentralizing any network, including Twitter and Facebook, so value accrues to users instead of corporate executives.
- If you tweeted and got paid in Bitcoin for your content, value would accrue democratically to creators rather than concentrate in Silicon Valley offices.
- GameStop saga showed the GameStop saga showed centralized finance's power—one call from a clearinghouse to Robinhood stopped retail traders from buying.
- The blockchain can't be called to stop transactions the way centralized finance can—there's no central point of control.
- Money printing and dollar devaluation catalyze Bitcoin adoption; every trillion-dollar stimulus is effectively a trillion-dollar advertisement for Bitcoin.
- When people get deplatformed from social media, they seek decentralized alternatives they can't be kicked off of.
RobinhoodFacebookTwitterEthereumGameStopNorth KoreaSilicon ValleyChina+1 more
- 5 min
Jake Paul connects his anti-Dana White fighter-pay crusade to Bitcoin's decentralization ethos, then the group discusses how Bitcoin has 'died' many times in the press and always recovers, including the crash after Elon's environmental tweets.
12moments
- Tim describes decentralization in fighting as similar to Uber disrupting taxis—someone has to change the model, even though it takes time.
- The comparison to LeBron James: he makes a billion dollars, but how much money is he generating for team owners, and how do athletes gain control?
- Tim questions whether the decentralized model works for every athlete, noting that not all fighters have the attention-grabbing ability of his guest.
- Tim jokes that bitcoin is basically trying to steal the Federal Reserve's hat, just like cryptocurrency junkies are trying to get Jerome Powell's hat.
- Bitcoin and fighter independence serve the same function: if you're locked into one system with no options, that's not good—both offer choice and opportunity.
- Elon's tweet caused massive value loss in crypto in a single day; Tim asks what the guest attributes the crash to and how he emotionally responded.
- Tim calls the guest stoic and asks directly whether he panicked, texted someone, or just went for a 19-mile run during the crash.
- Tim interjects that he hates the Olympics, derailing a question about whether his guests are olympians.
- Bitcoin has died 400 times in the press over ten years—the FUD about dark markets, Jamie Dimon calling it fraud, Warren Buffett calling it rat poison, and it keeps recovering.
- They predicted bitcoin at 500k last summer when it was trading at 13k; it ran up to 60k and crashed to 35k, still vastly better than where it started.
- The guests don't watch the price much because they know where bitcoin is heading long-term and don't get caught up in short-term turbulence.
- Tim notes that some people in the room have borrowed against their bitcoin or leveraged it, so the price crash hits through stops and amplifies the decline, though it always recovers.
BitcoinJerome PowellJamie DimonLeBron JamesWarren BuffettElon MuskBig Sean
- 2 min
Everyone's an Expert in 2021 (GaryVee 'Win' Bit)
#Tim riffs on how everyone now claims expertise without qualification, and Jake Paul credits a GaryVee video that simply told him to 'win' as inspiration for his success.
4moments
- Tim says everyone's an expert in 2021 and you don't actually have to claim expertise before confidently stating your opinions.
- His method: talk confidently and loudly, and when challenged on facts, call it a difference of opinion.
- Never let the facts get in the way of a good story — it's all about mindset.
- Tim was near homeless and broke until he watched a GaryVee video where he just said 'win.'
- 3 min
Tim jokes about how to respond to critics who say Bitcoin funds drugs and human trafficking, comparing it to cars and cash, then the Winklevoss twins pivot to defending Bitcoin mining's environmental impact via renewable and flared gas energy.
6moments
- Tim's response to "Bitcoin is used for kidnapping and drugs": it makes the world fun, you might not be there the next day at an all-inclusive resort.
- The actual question: do we deny Bitcoin is used for drugs and trafficking, or do we just defend both?
- Nothing's been used to buy more drugs than the US dollar, and you can't snort Bitcoin—you have to roll up actual cash.
- Bitcoin critics ignore that bad people also use email and cars for kidnapping, so should we outlaw those too?
- Bitcoin miners can be placed at stranded energy sources not connected to the grid, driving renewable development.
- Crusoe Energy puts Bitcoin miners next to natural gas flares to harness otherwise-wasted energy for mining instead of burning it off.
- 1 min
Tim reads an ad for Acre Gold, explaining how the service lets you incrementally buy physical gold shipped discreetly, and mentions a giveaway promotion.
3moments
- Acre Gold lets you invest in physical gold without paying all upfront, with monthly shipments once you hit the price threshold.
- Gold is designed in California and sourced from a major Swiss mint — one of the few affordable tangible things that will actually be worth something in five years.
- Tim is currently doing this himself and recommends going to getacregold.com/timdillon to start investing in physical gold.
- 1 min
Tim pitches Manscaped's Lawnmower 3.0 trimmer and ball toner spray for spring break grooming, with a discount code and bundled free gifts.
3moments
- Tim on spring break: your pants need a party, and Manscaped is here to ensure it never stops.
- The Lawnmower 3.0 is the best trimmer on the market for chest or ball shaving with ceramic blade technology.
- Don't let peeking pubes ruin your spring break or summer vibes in a swimsuit.
- 4 min
Jake Paul defends fighting UFC athletes instead of boxers, compares his career trajectory to Mike Tyson and Muhammad Ali, and details his ten-person training staff and hotel check-in joke about being 'ready.'
8moments
- Jake defends fighting UFC fighters instead of boxers, citing business sense and the lack of big-name professional boxers.
- Tyron Woodley is a five-time UFC champion with brutal knockout power, Jake argues, comparable to early-career opponents of Tyson and Mayweather.
- Tim notes Jake's last opponent was an Olympic athlete and two-time NCAA wrestling champion that Jake knocked out in one round.
- Jake's opponent's training video showed him running in the snow, which Tim compares to Rocky and flags as a sign of trouble.
- Tim tells Jake he's a legitimate fighter and athlete who takes boxing seriously rather than pursuing YouTube content anymore.
- Jake claims he has a ten-person boxing staff including three coaches, a mind coach, a stretching coach, and two strength and conditioning coaches.
- The desire to see Jake Paul get knocked out fuels his chip on the shoulder, combined with his wrestling background and 4.4-second forty-yard dash time.
- Tim jokes about checking into a hotel and telling the front desk he's grinded in the dark to step into the light, only to be told his room isn't ready until 4 p.m.
Tyrone WoodleyWinklevoss twinsFloyd MayweatherMike TysonMuhammad Ali
- 2 min
The Winklevoss twins predict Bitcoin could hit $100,000 by year's end and affirm Ethereum's staying power, while Tim jokes about Palestine reportedly buying Bitcoin and government crackdowns via the IRS.
2moments
- Tim predicts Bitcoin could reach $100,000 by end of year or January.
- Palestine just announced they're buying Bitcoin right after achieving sovereignty.
- 4 min
The panel discusses novelty 'fun coins' like Pit Bully that donate to anti-bullying causes and Dogecoin, and Tim closes with an extended bit comparing marrying Bitcoin while cheating with Ethereum to having sex workers on the side.
6moments
- Tim thinks charity-focused coins are good, since charities are now relying on Rocket for donations.
- Pit Bull coin donates liquidity to prevent bullying, though the logo features an actual pit bull.
- Cryptocurrency feels like a religion to Tim, and he argues mass psychosis with complete imperviousness to facts is healthy.
- Guest tweets about Doge constantly but doesn't own any.
- Tim on the crypto strategy: marry Bitcoin and cheat on it with Ethereum once a year, which works fine if you have a pool.
- The audience has the energy of the Capitol riot, and Tim worries the two security guards might let them storm the stage.
- 2 min
Roasting the Crypto Convention Crowd's Cult Energy
#Tim compares the audience's intensity to the Capitol riot, mocks the makeshift convention venue and street art outside, and reflects on the cult-like, unshakeable belief of crypto believers.
6moments
- Tim opens on the crypto convention crowd as freaks in a weird art installation instead of a real convention center.
- Nothing inspires confidence in a financial product like walking past white women with dreadlocks painting murals on walls.
- Tim asks the Winklevoss twins for closing wisdom to reach people who've lost money and faith in Bitcoin.
- Tim describes their audience as their equals: unemployed Uber drivers, morbidly obese drug addicts who own one-eighteenth of a Bitcoin.
- Tim roasts the Winklevoss name itself as sounding made up, something people would reject as implausible.
- Tim asks what message they have for people watching, convinced Bitcoin is their way out.
- 3 min
Jake Paul bluntly tells aspiring internet fighters and creators 'don't do it,' Tim compares it to his own advice about comedy, delivers a mock-inspirational close about the audience being in a cult, and thanks the panelists to end the show.
8moments
- Jake Paul's closing advice to aspiring internet personalities: don't do it.
- Tim appreciates that Jake doesn't sell false hope, just describes the actual work involved.
- This audience is scarier than any heavy metal concert Tim has performed for.
- Tim identifies belief in anything as genuinely terrifying.
- He defends Bitcoin against the comparison to financial QAnon.
- Tim tells the audience they're probably angry because they're involved in a cult.
- The meaning they seek in a Miami convention center isn't real—homeless people replace them there the moment they leave.
- Closing thanks to the panel: Elon Musk's brother Kimbal, Jake Paul, and the Winklevoss twins.
Kimbal MuskJake PaulWinklevoss twinsElon MuskBitcoin
- 1 min
Closing music plays and Tim thanks the audience as the event wraps up.
2moments
- Tim says goodbye to the audience
- Tim thanks the audience as outro music plays