Europe Is Broken — But This Country Is Becoming the World's Most Bitcoin-Friendly Nation

Europe has a big problem and that's overregulation. The bureaucracy is just ridiculous. You could have paid in Bitcoin in more than 1,000 restaurants until last year because the Mika regulation just throwed everything. The whole business around it just just bankrupt. But there is a light of end of the tunnel. And that's what I'm trying to push people into with BTC Prague, with our conference, because I really believe that there is a paradigm shift happening in the world. Hey everyone, welcome back to the show. Joining me this week is Matias Kuash. He is the co-founder of BTC Prague. And I'm excited to announce that for the very first time, I'm going to be joining the conference. I'm so excited. So, Matias, great to see you. Thanks for having me. >> Yeah, great to see you, Natalie. Thank you for invitation and greetings to all your listeners from Czech Republic. >> Yeah, so I want to start right there. Tell us what is going on in Europe with Bitcoin adoption and what's new with BTC Prague this year. >> Uh, thank you. Well, what's new is is like the question what I'm asking myself every day. Uh, what's new? What's the next big thing with everything? What is going on? So, I mean, where should I start? I I think it's it's good to tell um that the Europe is is broken, but there is a light of end of the tunnel and that's what I'm trying to push people into with BTC Prague with our conference because I really believe that uh with with AI and it's not just about Bitcoin, it's about all these other things which are speeding up and every second day there is something new to talk about and maybe it's just me uh getting older but I feel like I'm I'm missing a lot of stuff. So uh if I am feeling like that I believe that there are other people who need to uh have kind of a rudder and um and someone who will help them to navigate in the time of uncertainty and chaos because I really believe that there is a paradigm shift happening in the world with all these uh interesting and important technological um invention in in just in past few years. We have Bitcoin, we have uh AI, we have nostster, we have different um kind of longevity hacks and biohacks, we have genomics, robotics, we travel to space. And me as a um as a vivid uh history reader, I like the analogy of um of industrial revolution from early um or late 18th century and early 19th century where we saw that there were um similar things happening but in the different times. So we had a steam engine uh electrification, telegraph um and and and few other very important inventions merging uh in a way that it really changed how the society worked and that means that how like uh the everyday life of people worked and at that time there were there were people fighting against the combustion engine and about against the usage of Of course we can see some similarities today that people are fighting against AI because they are afraid of losing their job and this is what it concern but from my perspective of course I can be scared or I can I can kind of use this opportunity to get better. So I I choose to get better and that's what we preach at BTC Prague. We have few things but we like to say that we empower individuals. We built the Bitcoin bridges and um in the future you will need a a full tool set of of in in important stuff not only Bitcoin as the best money in the world. So this is not saying that we are kind of opening the gate to everything at BTC Prague. We are hardcore Bitcoin conference uh Bitcoin only but we see that many Bitcoiners are interested in the other stuff like parenting um like healthy lifestyle uh building a citadel like prepping and uh plan B passports AI cloud code nost you name it art music all these other stuff which are super interesting and and important if we want to keep a culture and build the world we envision and for that we have actually started a new track which is called Bitcoin living master class and it's on Thursday and it will focus on all these topics. So for all these Bitcoiners who are kind of who moved moved moved on and and they feel like they they their passion uh switched from Bitcoin to other stuff. We have a track for them. Coin Stories is proudly brought to you by Gemini. Start your Bitcoin savings account today. Plus, investing in Bitcoin has never been easier thanks to Gemini's Orange Bitcoin credit card. I've got mine right here. 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Seems like Czech Republic has been a few steps ahead of many of the other European nations when it comes to how it approaches Bitcoin. Don't you guys have a central banker who's passionate about Bitcoin? Like is does the Czech Republic have a Bitcoin reserve yet or what's happening? >> Uh well, there is not a Bitcoin reserve, but great observation Natalie. Yes, we have a Bitcoin uh Czech National Bank Governor Alash Mikl. He will be he will be probably speaking at our conference. I can't I can't tell you more now but the things are happening really fast and that's why I'm so hopeful you know like little side story I was going to live abroad I was going for a second second residency second citizenship we were decide we were we decided with my family to move out because the hostile condition in Europe and in Czech Republic but things have changed um rapidly and now After few years of negotiation with politics, politicians and lobbying, um things have changed from this hostile territory towards a very friendly Bitcoin country. And we can see now with Mika regulation which was um put into a action last year, mid last year, we now see so many different uh companies from different countries applying in Czech Republic. So like maybe triple or quadruple more than in surrounding countries that in our neighboring countries and that's kind of a signal that it's working. And the story I I told about myself it's it's it's very common in Czech because the people will always go where they treat them well. And I think the Czech Republic is setting a very nice example in Europe and hopefully the other countries will follow because if you don't treat your citizen well and if you are not creating the conditions for entrepreneurs, innovative people, people who drive the the economy, the people will just go go away. It's it's not possible. this uh to keep people inside the country in the time when you just pay for for a flight ticket and in the next day you are on the other side of the planet. You know the all days are over and we should act like that. >> So if I were to walk down the streets of Prague and start to ask people about Bitcoin, would a lot of them know what it is? Um do the businesses accept Bitcoin? Like what what's happening on the streets? >> Yeah. Well, you know, yes, of course. like Bitcoin is pen I would say Bitcoin is penetrated very well uh big time in trigger public like you you you could have paid in more than 1,000 restaurants until last year because the Mika regulation just throw uh rocks under our under our legs because yeah the the Europe has a big problem and that's overregulation it's the bureaucracy is just ridiculous you know it doesn't make any sense sense they are just making things harder for for people who want to live productive life. But to answer your questions, um I think that if you ask on the street, most of the people know what Bitcoin is, but they still living in the time that it's some some kind of a bubble. Um perhaps it's boiling oceans, perhaps it's for for like elicit use cases. So the public is still not orange filled but we have more than 1 million that's the best estimation we have more than 1 million Bitcoin and crypto users uh from 10 million inhabitants in total >> so that's a very good uh percentage very good penetration the biggest uh Bitcoin channel on YouTube has more than 100,000 followers Bitcoin only so that's 1% of people already following some kind of a hardcore Bitcoin content. If you go to Bitcoin meetups, every city has one and um you find there 12 15 to 20 30 people on the regular basis on a on a local small meetups and our Czech conference had more than 2,000 uh attendees already in year 2022 uh just before we started BTC Prague. So, Czech Republic is really something like if you if you compare it with other countries um and it's not just my Czech Czech spirit talking now. I think that it's because of the history and like I've been I've been raised as a kind of um not anarcho capitalist full-time but uh my father always told me to build moral system and be prepared uh for for bad times because uh they've been born in in communist time and they live through the communist time and they they never dreamed about escaping that word and it happened. So we are the first generation who live freely and I think that's why we we take very seriously uh all these things around what what can happen in the future and we like to build parallel we like to stay kind of disconnected and not under the control of the nanny state and even the politicians they understand it because they've al they also lived in the time and no one really no one liked it. Yeah, I can relate to that as someone who's kind of first generation post my family's Polish communist experience. I totally understand. What was it that you mentioned about the is it Mika regulation? It's preventing people from using Bitcoin like can you explain what's happening? >> Um yeah, so there is um uh inside the Mika regulation there is this rule where every merchant needs to KYC the the payer. Uh it wasn't like that until last year. So you could just walk into bar restaurant and pay uh with your lightning wallet and the merchant uh received received uh the bitcoin. But now because most of the lightning wallets are nonkyc you can't use them. So uh because like it's it there is this regulatory hurdle people just stopped uh paying and the the the whole business around it just just bankrupt. Yeah. >> Wow. So >> so you basically if you walk into a store or a restaurant that would accept Bitcoin, you have to use a KYC wallet or now they won't accept Bitcoin at all. Now they won't accept Bitcoin at all because the uh the services who were offering the service for merchants the products the the wallets which were kind of um very very easy to use and as a merchant you could you could choose if you accept bitcoin and if then uh you split bitcoin into two stacks and you perhaps keep 10% and the 90% went to your bank account uh to cover your your your expenses. So that was a really great service and product from one CH company and they just shut down because they were not able to sustain and you you and they they they choose to not push people to KYC. >> That's such a bummer. So this is across all of Europe. >> Um I think so. I'm not an expert on on uh regulation so I'm um just don't take my word for granted but I think it is. I think it is. >> Wow. That's it's so sad to see. I mean, I feel like we made so many advancements forward, but now we're taking a couple steps back. And Europe is somewhere I've I've been concerned about because when I've seen some of the policy makers, their proposals, their push back, it has been so draconian. Uh they don't understand Bitcoin. They don't understand Bitcoin's energy use. and Europe right now. I mean, isn't there very very um deep and legitimate concerns just about energy in general? Um the cost of things like fuel and gas and um and you guys are dealing with inflation rates that are high too. Oh well, Czech Republic is again quite well on the spectrum like uh of course we we we feel the energy prices and the petrol prices um are just uh higher every year but the countries like Germany or England England has the most expensive energy in the world and it's liquidational for most of families like and now So, so perhaps like um it's because of Jose's war in the Middle East and but but I feel like there is something even more uh into it because it's ridiculously stupid to shut down some uh some power plants uh which were absolutely fine and working. That happened in Germany actually. >> Oh yeah. They got rid of all their nuclear. >> Yeah. Yeah. And in check, unfortunately, we we've never did this stupid things. Like even with uh um with with like like bad immigration, we kind of I I feel like I feel like we we are kind of um on the top of the game with with all these all these decisions and we are in the European Union, but we still have our Czech Corona and the governor of Czech National Bank is um hardcore investment bearing banker. So he understands how to tackle uh the inflation and even though he is a kinesisian economist he uh I think that he understand also the Austrian economics school and he's applying this quite well so the inflation is high but it's not double digit and I think that they are trying to keep it keep it as low as possible so it could be worse and if you have a bitcoin in a self custody um you you and sleep well. >> If you've been listening for a while, you've probably heard us talk about BitKey. Bit Key is a private multi-IG wallet that removes the biggest point of failure in traditional self-custody, the seed phrase. Things get lost, phones get replaced, life happens, right? Bit Key is designed so your Bitcoin stays secure and recoverable without demanding constant attention or expertise. Use code stories for 20% off at bitkkey.orld. You've heard you should take your Bitcoin off of exchanges, but it all sounds so technical. My friends at the Bitcoin way have helped me and they can help you, too. From one-on-one training to 100% self-custody to straightforward cyber security tools, it doesn't have to be complicated. Go to the bitcoinway.com/natalie to schedule a free call. I hope to see all of you in Las Vegas for Bitcoin 2026. We'll be celebrating 5 years of Women of Bitcoin with a special evening bash. And we've got to give a big shout out to our title sponsor, Mara. And I'll be signing copies of Bitcoin is for Everyone at the Bitcoin Bazaar. Use code hodddle for discounted passes and I will see you this April. Finally, Bitcoin IRA. With Bitcoin IRA, you can invest in Bitcoin 24/7 inside a tax advantaged IRA. Choose a traditional IRA to defer taxes or a Roth IRA for tax-free withdrawals when you retire. Take control of your future with Bitcoin IRA. Head to bitcoinirra.com/natalie for up to a $1,000 funding bonus. Okay, so let's talk a little bit more about the conference because again, I haven't been before, but I've heard amazing things. So, this is the largest Bitcoin only conference in Europe, right? >> Yes. Yes. Thank you. Um, good segue. It is the largest. Um, it's it's it's not that big like Vegas. It's probably like oneird big. 8,000 people, 250 speakers, four stages, three days long. Uh it's it's in summertime. So Prague, a very historical, beautiful city. It's like a little Paris. It's medieval. >> Um >> and you have Michael Sailor returning for what, the fourth year? >> Yes. Yes. >> He must really like it. >> He love it. He He loves it. Yeah. He always walk the Charles Bridge and he really enjoys the time in Prague. And it's not only Michael Sailor. We have all big big uh guns like uh Jeff Malers, Jeff Booof, yourself, Natalie, Sam, um and then uh Jack Cruz. Um and yeah, like look at the web page like you can scroll for five minutes and just be uh just be um uh just just be looking at the program. It will tell you that it everyone will find something uh interesting. Pretty much the program is splitted into four stages. We have one stage only for Czech people because we are onboarding a lot of people from Prague and then we have three stages. One is like a beginner friendly. The second one is a main stage where we go into all kind of topics with panels, fireside chats, um keynotes and then we have a VIP stage in the VIP arena where um there are fireside chats with just the best speakers with a option to have a to um to ask a question with a Q&A sessions and that's something what is really exciting and really exclusive because you're sitting just few meters from those speakers and then usually the the talk is like for 20 30 minutes and then the speakers uh sit down make a circle and just talk for another 40 or 50 minutes with the people. So this is kind of special and it's not just about the conference you know like yeah you can you can watch the talks afterwards on on online we publish everything but the people you meet there are hardcore and especially now because it's a bare market you can expect only the true believers there and you know the saying like 10,000 hours right 10,000 hours to master everything. It's true. If you if you want to learn English, you pay you you can learn by yourself or you pay for a teacher, you invest and it will speed up your process. If you like to learn playing guitar, you pay for a teacher, you pay for lessons. With Bitcoin is the same thing. You can spend 10,000 hours watching YouTube videos or you pay for a ticket for BTC Prague. You fly over the ocean. you enjoy your time and in three days you get like 150 hours times some multi multiplator because >> the the the thing that you are surrounded by the people it gives you the conviction it's not just about the knowledge and and the technicalities it gives you the conviction that this is the real thing seeing the people around yourself asking the questions meeting people from all around the world from different cultures and everyone is using Bitcoin in some kind of a badass way and it's about the other things. >> Yeah. >> So meeting people I think that's the real asset on the way towards hyper bitcoinization because we need friends. We need a strong pack of wolves so to say you know the dunbar number it's a real thing. You need a really great people around yourself for uh for building the future um together together with others. you know, the the future we envision, the bright future, not the dark future. >> Yeah, that's very well said. I mean, that's been the most valuable part of attending Bitcoin conferences for me is just getting to meet people in person. There's something so different about those connections and the friendships that you make, the jobs that you can get out of it. You can create a career like I did. Um, because of course today you can Zoom with anyone, but it's it's not the same. um and getting to know people outside of the conference at the various events and having dinner and meeting their spouses, like all of that, it does really mean so much. And so, one thing that I I did want to ask you is again, I feel like we have hardcore audiences. They've been to the conferences. They've they've attended. Maybe now they feel like, okay, I've I've been going to a lot of them. Sell them on this one. like why if you've already been to some of the Bitcoin conferences um why would you come back or why would you go to the you know to this in particular? >> Yeah. Well, okay. I think for me personally the networking is the the most valuable thing. The people you meet there is really important because in future you will need people around the world who will act like a trust bridge. >> Yeah. >> So imagine that something will be happening in in your city in Adelie and I I will see some disaster on the on the Twitter. I don't need to verify this deep fake. I just ask you and you tell me come on no relax Matias it's a deep fake and you can do the same thing with me and with with other people so I'm trying to invite people from all kind of uh the all parts of world we have people from all continents from pretty much like I don't know like 85 countries >> and because I want this to be very very colorful and very um I want to connect the world we are building Bitcoin bridges That's our motto. And you need the bridges for the future. You you start with a with a handshake, with a smile, with a with a with a eye contact. And then you find out if the person is valuable for you and if you are valuable for for this person, and you start from there, and like I mean, everyone you talk to is is a is a great uh is a great person at BTC Prague. I really love the community. Um, of course, it's mostly Europeans. is like 90% Europeans and 10% the others. But that's good. I mean, if you if you're coming from far away, you will definitely enjoy the vibe. It's summer. It's um during the day, it's a very intense. It's education. It's uh it's networking, but in the evening, it's a party. Uh we have a really great Czech beer. And um and there will be a lot a lot a lot of ladies as well because uh we are organizing this women in Bitcoin event together. and and you you are helping us, you are supporting us, Natalie. So, thank you very much. And uh so there will be there will be for there will be something for everyone. I wanted to say >> I love that. Well, I that's what I was going to say next that we're going to have a women of Bitcoin event. So, if you love that, if you've been to other women of Bitcoin events, BTC Prague has one for you. I will be there. I'm super super excited about it. Um all right. Well, as we start to wrap up, anything else uh you want to share? Also, why don't we get your favorite spots in Prague for those folks that are going to be coming in maybe a couple days before or staying after? Like, where should we go eat? What should we make sure to do? I know there's a beautiful clock tower, uh, the the the castle, right? Like, what should people do in Prague? >> Yeah. Well, the city center, the old town is just so beautiful. It's medieval. It was built in uh 13th century. So, just walk the city. It's a I think in one or two days you can pretty much walk the whole historical city. Don't forget to go to Charles Bridge. That's like I've been there like 100 times and it's always like stunning. It's it's it's mindblowing what the people were able to do in that time. It's mind-blowing. So go to the bra castle uh go to the hill. Um there there is a watchtower. Um and the city is not that big. That's the that's the that's the perfect uh size because you can really as a tourist go through the the most important and interesting historical stuff only in one day. The food is great and Czech Republic is very cost effective. So if you compare it with a with a US and with the US conference I think for one VIP ticket to Vegas you can you can have a family trip with a return ticket to Czech Republic. What is your favorite restaurant? >> All right. Um, yeah. Um, I should say some really typical check. Uh, I really love restaurant. Um, or uh George, I'm a steak lover, so I would say uh yeah, George steak. Um, uh, you caught me off the guard with restaurants. Uh, I should know that. Yeah. Um, you know, there are some there are this kind of a typical check buffets where you go and uh they have kind of like all kind of salami, pastrami and you just you just pick with your finger and they do and they do a really really nice sandwich for you. It's like super super high quality different kind of meats with sauces. So if you are coming from from far away, I would go I would go to really one of those pubs where you actually stay when you eat and you you drink a beer. It's kind of a typical and and that's that's the that's the right experience. Or you can go to high high level um uh gastronomy restaurants. They're they're all over the place. >> That's awesome. Yeah. You know, Czech food is pretty similar to Polish food. So I love it. It's very comforting. Um I I personally love that kind of cuisine. So, um, well, I'm excited to head out there. It's going to come fast at us. It's June 11th through the 13th, right? You can still get tickets. Head to btcprogue.com. They recently dropped the agenda. We're so excited. Matias, any final thoughts? >> Well, uh, thank you, Natalie, again for having the, uh, inviting me and talking to me. I really appreciate the option to to invite all of your listeners to Prague and I'm pretty sure they they will be super happy and they will feel the value uh coming to Prague. So, and if you have any questions, just hit me up. I'm on on um on X Matas Mat Yas uh 44 Cook and I will be happy to um to read the messages and uh always answer everything. >> Perfect. Well, get your tickets. Discounted passes are with the code Hodddle H O DL L. We look forward to seeing you in the Czech Republic. And uh Matias, can't wait to see you in person. See you soon. >> Thank you. See you. >> Thank you so much for checking out this episode of Coin Stories. Make sure you're subscribed to the show so you don't miss any new episodes. If you can, turn on those notifications and leave us a positive review. They really help the show grow organically with new listeners. We have a free weekly newsletter. You can sign up at the newsblock.substack.com. This show is for educational and entertainment purposes only. Nothing should constitute as financial investment advice and you should always do your own research. I'm always open to feedback and guest suggestions, so please feel free to reach my team at info@talkingbitcoin.com. I'll see you next time.