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What's up freaks? This rip of RHR was brought to you by our good friends at CoinKite.

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They produce the Cold Card Q, my favorite hardware wallet. It's got two secure enclaves,

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it's got a full screen, full keyboard here. As you can see, if you're watching, if you can't watch,

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just imagine something that looks like a BlackBerry. It allows you to create private

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public key pairs offline in an arrogant fashion. Never have to connect the Cold Card Q to an

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internet device you can sign transactions and pspts remotely in the most secure fashion if you're a

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bitcoin power user and you're looking for the best security go pick up a cold card queue and go to

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coin kite.com find the cold card queue there i think you go to cold card.com as well use the code

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rhr for five percent off step up your security get a cold card queue this rip was brought to you by

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our good friends at bitkey if you have friends family members who are newbies you still have

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Bitcoin in the exchange. Help them take the first step off the exchange. BitKey makes it very easy.

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It's a hardware device that has a multi-sig. The hardware device has a key. Your mobile phone app

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has a key. And Block has a key in the cloud. They've designed this with trade-offs to make

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it very hard to lose Bitcoin. Easy to use, hard to lose. Go to bitkey.world. Use the code RHR

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or RHR20 at checkout to get a discount. Not sure exactly which one it is yet. Try both.

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go check it out bicky.world try rhr or rhr 20 this route was also brought to you by our good

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friends at stackwork if you're looking for a great way to make kyc free sets stackwork has bounties

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go to stackwork.ai find their bounties page and contribute to the bounties you can make bitcoin

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kyc free for completing the bounties if you're a developer looking to scoop up some easy sets

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go check out the bounties, contribute to them

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and stack some sats

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stackwork.ai

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It's incredibly fast. You can go on streaming sites with it. They don't say, hey, you've got a VPN. It just works.

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Go to Obscura.net. Use the code RHR25 for 25% off in annual subscription.

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It's an incredible deal. Obscura.net. RHR25 for 25% off in annual subscription.

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You've had a dynamic where money has become freer than free.

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If you talk about a Fed just gone nuts, all the central banks going nuts.

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So it's all acting like safe haven.

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I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins.

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In the world of fiat currencies, Bitcoin is the victor.

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I mean, that's part of the bull case for Bitcoin.

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If you're not paying attention, you probably should be.

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Man.

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Fighter of the Nightman

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Master of Karate

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I forget the words

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We were just singing Dayman

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From It's Always Sunny

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The gang does Primal

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Are we working?

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I don't know

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Let me check

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Dude, if it was up to me

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I fucking love Always Sunny

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Every title would be

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The gang does something

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I don't think it's working

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let me see if I follow

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RHR

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just gotta run it live

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I don't know

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if it's supposed to go out from RHR

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let's see RHR

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is it yours?

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anyway freaks

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no no

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we always stream from RHR but

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the big news of the week

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yeah it's not working

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hey this is what happens

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it looks like no it looks like it's streaming which end pub let's see which end pub we got

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oh yeah i'm getting an error when i go to our typical zap.stream

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um freaks i've been teasing him for a while but we finally added video streaming to primal

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very exciting moment it's happened quicker than expected even though about three weeks ago i said

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two weeks that was not actually the internal timeline but it sped everyone up a little bit

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so shout out to the primal team um but in proper in proper uh primal fashion we like to build

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everything open and interoperable. So the current setup is that you still need to rely on the Zap

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Stream backend to do streams. Any streams that go in through Zap Stream or through the Nostra spec

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for live streams will be shown in Primal. We tried to do a temporary workaround because Zap

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Zapstream is under an increasing DDoS, as you freaks may be aware.

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Kieran, actually, who's the lead maintainer of Zapstream, came out this week and speculated

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that it's some organization or state that's attacking him because they're sending multiple

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terabits per second to him constantly to DDoS's account.

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I don't know if that's the case, but whoever it is, we have some sophisticated haters out

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there trying to stop the signal. Um, but anyway, right now, if you have primal iOS, you are able

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to have a first class video stream watching experience when zap stream is up. Um, and, uh,

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it has zaps integrated. It has, you can make the, you know, you can reduce the video and make the

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video nice and small and go around and, and scroll and do whatever else you want to do in primal.

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and we really just tried to make it a really polished experience.

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I think once you guys get to play around with it,

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you'll be pleasantly surprised and then hopefully you can give us feedback.

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So iOS is available today.

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Web should be available next week.

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Android should be available the week after that.

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I don't know if I was supposed to say those timelines,

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but that is our expectation and the Primal team continues to ship.

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And then sometime in the future, we will have a full streaming suite where you can actually stream from Primal as well and view in other clients.

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But the most important thing for us is that everything we build is interoperable and open.

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And we will continue to do that.

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But our goal is to replace Twitch and YouTube, make them obsolete.

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Gradually, then suddenly, we will make it happen.

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so if you haven't downloaded Primal

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check it out in your favorite app store

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we'd love to have you

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shoot the shit, have some fun with it

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we've been testing this out the last few days

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I've been testing it out on Primal

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you have to Matt, I'm sure more than me

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but it is

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very sleek

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who is attacking Zap.Stream?

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honestly

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I think it's like a Noster

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native hater to be honest

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um but it's kind of cool to think it's a state or an organization yeah like someone within the

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nostril ecosystem um for better for worse we have a slew of haters uh because when you ship things

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and you do things uh you tend to stack the haters and the lovers and uh it's one of the best metrics

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for success um but also it'd be kind of cool if it was like we can just spread the rumor that's

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Amazon trying to stop the signal.

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They don't want us to compete with Twitch.

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I'm kind of cool with that. It's Bezos.

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Bezos is sitting on his yacht somewhere

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telling his interns to

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attack Zapstream.

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I'm seeing it on...

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Restream says it's

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working.

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I'm seeing it on Zap.

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Zap.stream now. The gang goes primal.

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Are we on Zapstream?

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I'm streaming to

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both.

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I'm streaming to

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I'm streaming to both

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our hacked backend

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and Zapstream right now

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because we love you freaks

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and the signal

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cannot be stopped

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started five minutes ago

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are we live?

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I'm getting

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I see the YouTube chat

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this is going on

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we're uh we're testing and proud though the uh the audio listeners this is the way to do it

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what the hell are you two doing this is the way to do it building the open

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um but anyway a huge shout to kieran kieran's awesome uh and uh i hope he can

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harden zapstream more uh he has our full support um but we will be providing an alternative uh

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at some point in the future um because i think the more video streaming hosts

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or broadcasters or whatever you want to call it because they're what send out the noster event

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um and restream out the streams uh the better uh so we can make this thing robust and open

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and interoperable. But this is something we've been head down working on very aggressively.

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And I know you freaks have a lot of requests for Primal. Believe it or not, they're all on the list.

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It's a really long list. It's a list that seems to pump forever, but we're just trying to knock

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them all out. And we don't really like, I know it's kind of ironic because it's not working right

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now but we don't like to like beta test on you too much like we like to test things out

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significantly and then release um in this case i will say that the actual viewing experience

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when the back ends are working is very nice and primal like we spent a lot of times polishing it

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i can uh attest to that it is beautiful i am uh

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I'm doing a dispatch later today

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in three and a half hours.

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And what did I say?

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At 1900 UTC.

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Five Eastern, really?

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Yeah, five Eastern.

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So if we don't get,

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hopefully we can test it out then too.

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And if not, we'll keep working.

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We'll keep working.

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Love you, Freaks.

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We love you.

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With that, let's get to Clark's dashboard.

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An update.

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Current price of Bitcoin is 108,540 cuck bucks.

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We're dumping, getting back to 1,000 sats per dollar.

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921 sats per dollar right now.

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Sats are on sale, sitting at a $2.16 trillion market cap.

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We're at block height.

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to 912,278, which means we are currently 970 blocks away from the next difficulty adjustment,

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looking like an upward adjustment of 5.9%.

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It's estimated to come on September 4th, so next Thursday.

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I'm sure you can hear my middle child screaming in the background.

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Very excited about the next difficulty adjustment.

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Yes, he is.

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brother it's okay we've got 5 398 transactions in clark's mempool if we go over to mempool.space

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we are currently looking at 78 120 transactions in his mempool that is because he's recognizing

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transactions under one set per vbite i sort of buried the lead there my middle son

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just to give you guys some context of why it might be crazy and cloudy in the background.

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We had our third son earlier this week.

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We welcomed him to the world.

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So it's been an incredible, chaotic week.

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Very tired, but the show must go on.

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Congratulations, Marnie.

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Very happy for you guys.

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Thank you, sir.

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Thank you.

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And it must go on because there's a lot of important stuff going on.

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The price is dumping.

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You brought this up.

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I haven't seen anything on Twitter, as you can imagine.

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I haven't been on Twitter as much this week, but it looks like MSTR stockholders are getting margin called.

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Yeah, so – well, first off, by the way, freaks, RHR on Primal is primal.net slash RHR, or you can just search RHR in the app.

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and dispatch is primaldonad.com.

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That's Citadel.

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But when I stream out,

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I stream out from the Odell account.

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But the way the streaming works

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is if you follow the account,

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it'll pop up on the top

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just like it used to on X.

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It'll pop up on the top

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and notify you that the stream is live

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or you can obviously

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just manually go to the profile.

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But yeah, on to this MSTR stuff.

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So like MS, it's interesting.

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You know, a lot of eyes have been on Sailor himself getting margin called, which I think is mostly FUD. He's like pretty conservatively leveraged. He's been pretty careful about it. And as much as he says, you know, he doesn't expect any other bear markets, like his actions kind of speak louder than words on that regard. Like he's set up for a pretty deep bear market if that happens to not sell Bitcoin.

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but less so has been focused on the actual shareholders themselves

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and so what we've seen over the last few weeks on mstr is well for starters

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for starters he like the guidance of the shareholder meeting was that they weren't

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going to sell more mstr stock to buy bitcoin if it was under two and a half mnav so if the

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valuation was under two and a half times the book value of the Bitcoin. They weren't going to sell

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more MSTR common stock, which is what they've been doing for almost a year now in size.

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And then a few weeks after that, they reversed course and they said, actually, we will still

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sell MSTR common stock at our discretion if it makes sense And then they did So on Monday they announced that they did it again And this whole time what we been watching is

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basically that MNAV has been compressing. So even when Bitcoin was going up, the MNAV was

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compressing. And now that Bitcoin is going down, it seems to be compressing even more. Right now,

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it's let me see strategy.com. Right now it's at 1.61 times the Bitcoin, right? So one times would

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be Bitcoin. But anyway, I've seen a lot of reports. And then so at the same time, so what a lot of

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people do with stocks they hold is they borrow against them. And if they want to really lever up,

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then they buy more of the stock with their borrowings. And so we've seen two things happen.

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First of all, there's reports that JP Morgan, they increased the margin requirements significantly if you're doing that trade.

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And then second of all, the price has gone down a decent amount.

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It's trading at what, like $337 right now, I think.

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Yes, $337.

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So I've seen a bunch of reports of MSTR shareholders being margin called, and then they're selling Bitcoin to cover their margin. And then that drives the price of Bitcoin down, which drives the price of MSTR down more, which margins more people.

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So we're seeing like a little bit of a vicious feedback loop right now that I think is part of the reason for this price depreciation or this recent correction or whatever the hell you want to call it to 108.

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And not that many people are talking about that.

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And this is one of the reasons why it's important to stay humble out there.

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And this is a long term game.

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00:17:26,788 --> 00:17:29,928
There's a lot of survivor bias, right?

232
00:17:29,928 --> 00:17:35,248
Like it, most people, a lot of people that got into Bitcoin have gotten wrecked in the past.

233
00:17:36,308 --> 00:17:38,288
And the survivors are the ones who thrive.

234
00:17:39,068 --> 00:17:45,088
And then the second piece I'd say is like, we're just seeing across all of the paper Bitcoin stocks.

235
00:17:45,268 --> 00:17:47,368
They're just all getting hammered right now.

236
00:17:47,388 --> 00:17:49,268
And I think a lot of people are like, where's retail?

237
00:17:49,348 --> 00:17:50,548
Retail hasn't shown up this cycle.

238
00:17:50,548 --> 00:17:57,868
It's like, well, I think a lot of retail did show up and they've been wrecked on paper Bitcoin summer a little bit.

239
00:17:58,988 --> 00:17:59,428
Yeah.

240
00:17:59,928 --> 00:18:02,328
But yeah, that's my take.

241
00:18:06,188 --> 00:18:09,528
I'm looking at Bitcoin per future funding rates.

242
00:18:09,668 --> 00:18:14,248
They're still, they're not like out of hand, but they're relatively elevated.

243
00:18:14,588 --> 00:18:18,668
So I imagine people are trying to stop out the longs here.

244
00:18:20,148 --> 00:18:21,768
Yeah, and as LV, I'm sorry.

245
00:18:22,588 --> 00:18:29,468
I was saying Zero Hedge has a theory that like Jane Street and those types of Wall Street investors are actively trying to draw the price down lower.

246
00:18:29,468 --> 00:18:35,808
to buy. I think so too. We've definitely got the sophisticated guys there. I would say there's

247
00:18:35,808 --> 00:18:41,768
some conspiracies that JP increased their margin requirements for malicious reasons to drive the

248
00:18:41,768 --> 00:18:51,488
price lower on MSTR specifically. But I will say that Jamie Diamond has a reputation of being very

249
00:18:51,488 --> 00:18:58,568
good at managing risk. So I don't know if there's actually anything malicious there. I think he might

250
00:18:58,568 --> 00:19:04,188
seen a lot of risk on their book and wanted to reduce that risk. And he doesn't have that much

251
00:19:04,188 --> 00:19:10,028
love for Bitcoin, so why put his neck out for it? So I don't think that was actually probably

252
00:19:10,028 --> 00:19:14,888
malicious in that regard, but I could see how that could hit people off guard. I will say though,

253
00:19:14,968 --> 00:19:21,988
on the Saylor's side, it's really odd what he did with the common situation because he released the

254
00:19:21,988 --> 00:19:26,928
preferreds. The preferreds obviously are designed to be accretive to the common.

255
00:19:26,928 --> 00:19:29,888
And I thought he was going to let the common run a little bit.

256
00:19:29,988 --> 00:19:34,468
I think a lot of people that were playing that trade thought he was going to let the common run.

257
00:19:36,348 --> 00:19:41,828
And so the first guidance that he was like, I'm going to stop selling common actually was not surprising.

258
00:19:42,008 --> 00:19:42,928
That made a lot of sense.

259
00:19:44,228 --> 00:19:47,528
And then when he backed off of it, I thought maybe it was for legal reasons.

260
00:19:48,008 --> 00:19:50,088
His lawyers were like, no, you can't tell them that.

261
00:19:50,748 --> 00:19:52,548
You can't do guidance based on MNAP.

262
00:19:52,548 --> 00:19:55,748
But then they actually still sold common.

263
00:19:55,748 --> 00:20:01,408
like you would think you would just let it run give shareholders a little bit of breathing room

264
00:20:01,408 --> 00:20:06,008
there's obviously a lot of angst but yeah like if you've been watching socials there's a lot of

265
00:20:06,008 --> 00:20:12,548
angst among the shareholder class about common getting clobbered um just a weird move it was a

266
00:20:12,548 --> 00:20:20,328
bit of a weird move um but we'll see how it plays out but i i do think uh it is having an effect on

267
00:20:20,328 --> 00:20:23,028
the greater Bitcoin market right now.

268
00:20:23,828 --> 00:20:32,628
Yeah, it is a weird move in the sense that if you're going to come out after your Q2 financials,

269
00:20:33,128 --> 00:20:36,908
have your meeting, basically set the path for shareholders.

270
00:20:37,628 --> 00:20:38,688
Here's the playbook.

271
00:20:38,948 --> 00:20:40,748
Here's the only time we're going to hit the ATM.

272
00:20:41,428 --> 00:20:42,928
We're going to lean on the preferreds.

273
00:20:42,988 --> 00:20:48,968
And then less than a month later, you completely renege on that sort of guidance that you gave

274
00:20:48,968 --> 00:20:54,528
shareholders when you're one of the most heavily traded stocks in the stock market i believe it's

275
00:20:54,528 --> 00:21:01,988
still top five top ten at the very least in terms of volume per day it's a bit odd reeks of

276
00:21:01,988 --> 00:21:08,568
i don't say desperation but maybe a lack of confidence um yeah or maybe maybe it's just

277
00:21:08,568 --> 00:21:12,808
like massive fomo like i want to tap the atm to buy more bitcoin but look and pull up the chart

278
00:21:12,808 --> 00:21:18,728
yeah just to put this into perspective around the numbers if you look at the long liquidations

279
00:21:18,728 --> 00:21:23,308
where we were earlier, August 25th.

280
00:21:24,188 --> 00:21:25,688
So four days ago, earlier this week,

281
00:21:25,768 --> 00:21:27,608
that was the, I did the counting,

282
00:21:27,868 --> 00:21:28,768
a little eye test here.

283
00:21:28,868 --> 00:21:33,448
I think that's the 16th highest liquidation rate

284
00:21:33,448 --> 00:21:36,848
since the beginning or the middle of 2021.

285
00:21:37,408 --> 00:21:38,948
It's come back about four years.

286
00:21:39,388 --> 00:21:41,788
So that's a pretty, pretty big liquidation day.

287
00:21:42,768 --> 00:21:44,588
Yeah, I mean, to the fact that we're trading

288
00:21:44,588 --> 00:21:46,408
still well above 100,

289
00:21:46,588 --> 00:21:48,268
even though that might be me jigsing it.

290
00:21:48,728 --> 00:21:54,468
I think is a pretty good sign of how liquid Bitcoin is right now and how relatively strong it is.

291
00:21:54,468 --> 00:22:00,348
I will say I see LB99 slacker in the YouTube chat since the last chat is not working.

292
00:22:01,548 --> 00:22:03,188
And he's also right.

293
00:22:03,328 --> 00:22:16,528
This is something we've, I think, put a pin on many times on this show, which is there seems to be a silent depression going on where many people are struggling.

294
00:22:16,528 --> 00:22:19,808
while asset prices are trading at all-time highs.

295
00:22:20,648 --> 00:22:24,068
So that's definitely a part of it, I think.

296
00:22:26,008 --> 00:22:28,968
And just on the sailor point, to be clear here,

297
00:22:29,108 --> 00:22:31,328
I think one of the things he deserves a lot of credit for

298
00:22:31,328 --> 00:22:37,948
is he's always been very clear and consistent on the strategy.

299
00:22:37,948 --> 00:22:40,848
And that's what makes the last month kind of odd,

300
00:22:41,068 --> 00:22:45,208
and I think is what has shaken shareholders a lot.

301
00:22:46,528 --> 00:22:53,368
is that this to, to do such big changes so quickly. Um,

302
00:22:53,668 --> 00:22:56,868
and everyone's like questions like, okay, well, what's, what's the move?

303
00:22:56,868 --> 00:23:00,848
Like, what is it, what is his play here? Uh, is, is not,

304
00:23:00,948 --> 00:23:06,488
is out of brand for him. It's, it's, it's unusual for him.

305
00:23:07,228 --> 00:23:07,668
It is.

306
00:23:09,748 --> 00:23:10,228
Nate.

307
00:23:12,808 --> 00:23:16,368
Anybody participating in paper Bitcoin summer, beware, beware, be careful.

308
00:23:16,528 --> 00:23:17,768
Don't get over leveraged.

309
00:23:19,148 --> 00:23:20,288
Stay humble, Stack Sats.

310
00:23:20,808 --> 00:23:22,948
It's a great time to stay humble and Stack Sats.

311
00:23:23,328 --> 00:23:23,548
Always.

312
00:23:23,748 --> 00:23:23,828
Yes.

313
00:23:24,448 --> 00:23:24,888
Yes.

314
00:23:26,428 --> 00:23:28,208
I'm getting pinged by Ed.

315
00:23:29,288 --> 00:23:29,988
You see this app?

316
00:23:30,168 --> 00:23:30,868
We're selling this app.

317
00:23:30,948 --> 00:23:32,008
We're doing a giveaway right now.

318
00:23:32,148 --> 00:23:33,188
Go to the TFTC account.

319
00:23:33,828 --> 00:23:34,528
Find the...

320
00:23:35,328 --> 00:23:37,908
You got 20 minutes left to retweet this if you want a free hat.

321
00:23:40,988 --> 00:23:43,788
Marty should be better at shilling his shit because I get no money from this,

322
00:23:43,788 --> 00:23:46,748
but you can go to tftcmerch.io if you want to buy one.

323
00:23:46,808 --> 00:23:48,748
If you want to buy it for free, retweet it.

324
00:23:49,268 --> 00:23:52,588
Oh, the humble enough hat game.

325
00:23:53,168 --> 00:23:55,848
You got a massive compliment from my wife this morning.

326
00:23:56,348 --> 00:23:57,008
She loves the hat.

327
00:23:57,508 --> 00:23:58,248
She loves the hat?

328
00:23:58,768 --> 00:24:00,148
It means a lot coming from her.

329
00:24:00,368 --> 00:24:01,388
It means a lot coming from her.

330
00:24:02,108 --> 00:24:06,448
Freaks, don't sell yourselves out to retweet for a free hat.

331
00:24:06,548 --> 00:24:08,128
Either buy a hat or don't press retweet.

332
00:24:09,008 --> 00:24:09,868
Retweet, retweet.

333
00:24:09,868 --> 00:24:17,428
The chance, the minute chance that you get a free hat is not worth just blindly retweeting engagement bait.

334
00:24:18,088 --> 00:24:20,888
You have a 0.5% chance of winning hat right now.

335
00:24:20,968 --> 00:24:21,308
That's pretty good.

336
00:24:21,388 --> 00:24:24,188
Just go buy a hat.

337
00:24:24,948 --> 00:24:26,108
You have a 1 to 200 chance.

338
00:24:30,328 --> 00:24:31,848
Moving along, I see you.

339
00:24:31,988 --> 00:24:33,848
For your lady, I changed.

340
00:24:35,368 --> 00:24:35,768
Boss.

341
00:24:35,768 --> 00:24:40,468
this debate, it's raging.

342
00:24:41,168 --> 00:24:43,488
It's been raging for well over,

343
00:24:43,608 --> 00:24:44,828
since Roger Ver was around,

344
00:24:45,028 --> 00:24:46,168
pushing merchant adoption.

345
00:24:47,168 --> 00:24:48,668
Store value versus medium exchange.

346
00:24:49,628 --> 00:24:51,428
Bitcoin can never be used as medium exchange.

347
00:24:53,988 --> 00:24:55,188
What's your opinion here, Marty?

348
00:24:55,868 --> 00:24:57,468
I mean, I think we have the same opinion.

349
00:24:57,948 --> 00:24:59,408
Like, you don't have one without the other.

350
00:24:59,628 --> 00:25:00,788
So, it's both.

351
00:25:01,668 --> 00:25:02,568
It's just both.

352
00:25:02,648 --> 00:25:03,528
It's both freaks.

353
00:25:03,528 --> 00:25:09,968
Good money is money that is great for spending and saving, specifically being able to do without permission.

354
00:25:10,328 --> 00:25:11,388
Bitcoin serves both.

355
00:25:12,108 --> 00:25:14,088
And if you didn't have one or the other, it would fail.

356
00:25:14,388 --> 00:25:18,908
So you literally need both and fight over something more interesting.

357
00:25:21,468 --> 00:25:25,428
There's a lot of accounts out there saying it's only a store of value.

358
00:25:26,488 --> 00:25:32,448
And you know what really set it off this week is that clip of Dorsey on, I think, the 21 Questions podcast.

359
00:25:33,528 --> 00:25:35,088
Yeah, but that's like five months old.

360
00:25:35,708 --> 00:25:36,888
With Haley.

361
00:25:37,128 --> 00:25:40,448
I mean, it's five months old, but the clip resurfaced and people...

362
00:25:41,548 --> 00:25:43,228
Well, you know why it resurfaced, right?

363
00:25:43,868 --> 00:25:44,608
Because of us.

364
00:25:45,508 --> 00:25:48,508
And you didn't say that it was five months old when you posted it.

365
00:25:49,348 --> 00:25:50,628
Trevor, Trevor.

366
00:25:51,868 --> 00:25:53,248
Listen to Matt.

367
00:25:53,348 --> 00:25:54,148
I don't run the account.

368
00:25:54,808 --> 00:26:00,108
The TOTC account posted a five-month-old clip of Dorsey saying it needs to be used as money.

369
00:26:00,108 --> 00:26:03,888
and it set it all off again.

370
00:26:04,608 --> 00:26:04,788
Yeah.

371
00:26:05,228 --> 00:26:06,688
Robin Linus was hopping in.

372
00:26:09,128 --> 00:26:10,788
Dorsey was retweeting things.

373
00:26:11,008 --> 00:26:12,028
It just became a whole thing.

374
00:26:13,268 --> 00:26:17,868
Well, I think really to lean into, you need both.

375
00:26:17,968 --> 00:26:19,928
You can't have one without the other.

376
00:26:20,348 --> 00:26:23,008
Like Bitcoin only has valuable, only has valuable,

377
00:26:23,128 --> 00:26:26,628
I can tell Tyron, only has value because of the fact

378
00:26:26,628 --> 00:26:29,708
that it's censorship resistant peer-to-peer digital cash.

379
00:26:30,108 --> 00:26:36,488
That can be sent from peer to peer without permission through the distributed network.

380
00:26:37,188 --> 00:26:44,088
And it just so happens to have a supply cap of 21 million, which is the scarcest thing on the planet.

381
00:26:44,428 --> 00:26:46,808
It's the most finite thing on the planet.

382
00:26:46,808 --> 00:26:50,108
Somebody was diving into the semantics of this.

383
00:26:50,288 --> 00:26:51,088
It's very finite.

384
00:26:52,168 --> 00:26:58,888
And the finite nature, as demand goes up, supply stays static, price is going to go up.

385
00:26:58,888 --> 00:27:01,408
and there are many out there, myself included,

386
00:27:01,528 --> 00:27:04,808
think it is worthwhile to hold it for the long term.

387
00:27:04,948 --> 00:27:07,888
As demand continues to increase, it'll push the price up

388
00:27:07,888 --> 00:27:10,648
because supply is not elastic with the demand.

389
00:27:12,148 --> 00:27:16,228
But people need to send money, better money, good money,

390
00:27:17,108 --> 00:27:20,948
in ways that the traditional fiat rails don't allow them.

391
00:27:21,468 --> 00:27:23,328
And I bought soap this week.

392
00:27:23,528 --> 00:27:25,708
I loaded up with SoapMire.

393
00:27:25,888 --> 00:27:26,748
That's the other part of it.

394
00:27:26,748 --> 00:27:28,028
I bought eight bars of soap.

395
00:27:28,888 --> 00:27:30,828
It cost me, I think, 72,000 sats.

396
00:27:32,188 --> 00:27:35,568
And he only accepts Bitcoin.

397
00:27:35,868 --> 00:27:36,748
The soap is so good.

398
00:27:36,828 --> 00:27:37,348
I need it.

399
00:27:37,528 --> 00:27:38,448
I had to spend Bitcoin.

400
00:27:38,828 --> 00:27:39,188
I'm sorry.

401
00:27:40,088 --> 00:27:45,568
Sorry if that makes me a blasphemous hodler.

402
00:27:46,588 --> 00:27:48,008
No, look, I think, well, first of all,

403
00:27:48,008 --> 00:27:53,008
I do think merchant adoption will be heavily influenced

404
00:27:53,668 --> 00:27:55,708
by merchants that only accept Bitcoin.

405
00:27:56,548 --> 00:27:57,528
So if you want good products,

406
00:27:57,528 --> 00:28:03,088
you have to use Bitcoin. On that note, you can go to silldispatch.com slash shop to buy a hat.

407
00:28:03,908 --> 00:28:10,828
I only accept Bitcoin. No fiat allowed. But I mean, I think it's even simpler than that, Marty.

408
00:28:10,828 --> 00:28:16,328
Well, first of all, I think Bitcoin wasn't the first attempt to try and solve this P2P

409
00:28:16,328 --> 00:28:27,188
permissionless cash problem or solution. The reason Bitcoin has been successful is because

410
00:28:27,188 --> 00:28:31,768
it increases in purchasing power over time because it has that fixed supply element,

411
00:28:32,308 --> 00:28:36,728
because it incentivizes people to hold it. It incentivizes people to mine. It incentivizes

412
00:28:36,728 --> 00:28:42,628
people to build out the ecosystem around it. But at the end of the day, okay, your savings are

413
00:28:42,628 --> 00:28:46,508
increasing in value. They didn't actually increase in value if you can't spend it without permission,

414
00:28:46,508 --> 00:28:50,048
because how can you actually realize that value? How can you go out and buy soap or

415
00:28:50,048 --> 00:28:57,328
buy cows or buy a house or buy a car with that wealth that you've accrued, if it requires

416
00:28:57,328 --> 00:29:03,108
permission to actually realize it, then it's not your money. It's just an IOU. And this is why that

417
00:29:03,108 --> 00:29:10,328
it's two pieces of the same coin, two sides of the same coin. You need both. You absolutely need

418
00:29:10,328 --> 00:29:16,948
both. And they're being built out in tandem. In the West, the investment use case, the savings

419
00:29:16,948 --> 00:29:24,528
use case is the predominant use case. But we see in places all around the world where it's actually

420
00:29:24,528 --> 00:29:29,888
the medium of exchange use case is more dominant, where they actually want to hold dollars,

421
00:29:29,988 --> 00:29:34,808
they prefer to hold dollars. But when they can't make a transaction with a USD token,

422
00:29:34,808 --> 00:29:39,268
or with dollars in another way, then they use Bitcoin because Bitcoin is actually

423
00:29:39,948 --> 00:29:45,288
censorship resistant and very difficult to stop or seize.

424
00:29:45,288 --> 00:29:48,128
so it all comes together

425
00:29:48,128 --> 00:29:49,648
argue about more important shit

426
00:29:49,648 --> 00:29:51,108
or more interesting shit

427
00:29:51,108 --> 00:29:52,488
or just keep arguing about this

428
00:29:52,488 --> 00:29:54,088
but it really doesn't matter if you do

429
00:29:54,088 --> 00:29:56,508
what matters is that we

430
00:29:56,508 --> 00:29:58,488
actually keep marching forward

431
00:29:58,488 --> 00:30:00,008
and build out this ecosystem

432
00:30:00,008 --> 00:30:01,628
and use the tools

433
00:30:01,628 --> 00:30:04,048
I think this is

434
00:30:04,048 --> 00:30:06,788
a good opportunity to really

435
00:30:06,788 --> 00:30:08,668
highlight why

436
00:30:08,668 --> 00:30:10,048
we're doing this

437
00:30:10,048 --> 00:30:12,988
pull up the diligent denizen tweet

438
00:30:12,988 --> 00:30:13,608
I put in there

439
00:30:13,608 --> 00:30:28,208
Obviously, I'm sure you're all aware of the terrible tragedy that unfolded in Minneapolis, Minnesota earlier this week with the mass shooting. I'm not going to comment on that. It's terrible.

440
00:30:28,208 --> 00:30:36,188
There is obviously a mental health crisis in this country that many people don't want to focus on.

441
00:30:36,388 --> 00:30:47,128
But in reaction to this, it seems like there are opportunists looking to thrust surveillance technology on us almost immediately.

442
00:30:47,368 --> 00:30:49,948
So, Logan, if you just play the clip from the beginning, it's very short.

443
00:30:50,088 --> 00:30:51,008
I think it's like 30 seconds.

444
00:30:51,008 --> 00:30:51,488
Correct.

445
00:30:51,728 --> 00:30:52,168
Correct.

446
00:30:52,408 --> 00:30:59,288
I am now about to launch Gideon, America's first ever AI threat detection platform built

447
00:30:59,288 --> 00:31:01,008
specifically for law enforcement.

448
00:31:01,008 --> 00:31:18,936
It scrapes the Internet 24 using an Israeli ontology to pull specific threat language and then routes it to local law enforcement It a 24 detective It never sleeps and it going to get us in front of these attacks Would it have picked up on this do you think

449
00:31:19,516 --> 00:31:24,976
100%. I wish my program would already be up. We're not launching until next week. I've got a dozen

450
00:31:24,976 --> 00:31:31,696
agencies on board, Trace. I just unloaded a major Northeast agency with over 2,700 sworn.

451
00:31:31,696 --> 00:31:34,216
this is America's early warning system.

452
00:31:34,356 --> 00:31:34,976
Is that correct?

453
00:31:36,596 --> 00:31:36,816
Yeah.

454
00:31:37,096 --> 00:31:38,056
Dystopian as fuck.

455
00:31:38,816 --> 00:31:39,076
Yeah.

456
00:31:39,556 --> 00:31:42,576
So we're wrapping this in Save the Children,

457
00:31:43,336 --> 00:31:45,776
prevent mass shootings.

458
00:31:46,936 --> 00:31:50,916
Here's AI 24-7 online detective

459
00:31:50,916 --> 00:31:54,556
to detect pre-crime and report it to authorities.

460
00:31:54,996 --> 00:31:58,176
So minority report coming real, in real time.

461
00:31:58,176 --> 00:32:01,416
You know it's really fucked when...

462
00:32:01,696 --> 00:32:04,616
They use Israeli grade as a selling point.

463
00:32:05,916 --> 00:32:07,296
Israeli grade ontology.

464
00:32:07,396 --> 00:32:08,416
I don't even know what that means.

465
00:32:08,416 --> 00:32:14,016
I was trying to dissect the ontology part of that phrase.

466
00:32:15,156 --> 00:32:19,516
You got to imagine his lawyers are freaking out that he said 100% guaranteed.

467
00:32:20,456 --> 00:32:20,616
Yeah.

468
00:32:23,076 --> 00:32:25,136
But yeah, this is like the Palantir playbook.

469
00:32:25,236 --> 00:32:26,616
They're rolling all this shit out.

470
00:32:27,236 --> 00:32:31,036
This is the reality that we have to be operating under.

471
00:32:31,696 --> 00:32:34,396
free crime, knowing all your thoughts.

472
00:32:34,956 --> 00:32:37,216
I mean, we might as well jump to it since you jumped to that.

473
00:32:38,316 --> 00:32:41,036
I have it at the end of the list, Logan,

474
00:32:41,376 --> 00:32:46,516
but Anthropic just changed their terms of service.

475
00:32:48,236 --> 00:32:49,876
The major AI provider.

476
00:32:50,696 --> 00:32:55,616
Now they will be planning on saving all user chats for five years.

477
00:32:56,836 --> 00:32:59,496
And if you don't opt out by September 28th,

478
00:32:59,496 --> 00:33:04,716
They will actually be training the AI on your private chats, building profiles on users.

479
00:33:06,456 --> 00:33:13,536
This is another reason why things like Maple are incredibly important, private AI, secure AI.

480
00:33:16,336 --> 00:33:23,496
Because this tech, there's so much promise in LLM stuff, particularly open source LLM stuff.

481
00:33:23,496 --> 00:33:30,036
But once again, in the near term, the single biggest use case for it is surveillance and control.

482
00:33:30,036 --> 00:33:42,916
Like just building, they're going to have, very soon, they will have tools that will know how you think and what you think about better than yourself, better than you actually realize yourself.

483
00:33:42,916 --> 00:33:52,936
If you're using these tools and using social and having digital connected lives in a way that you're not actually thinking about what you're putting out there.

484
00:33:53,496 --> 00:33:59,356
um very advanced profiles on people that can just be very they search through with like natural

485
00:33:59,356 --> 00:34:04,516
language stuff right tell me everyone who's interested in this thing that lives in this area

486
00:34:04,516 --> 00:34:13,776
that works in this field and just boom just flag it all yeah well it looks like anthropics giving

487
00:34:13,776 --> 00:34:20,196
you an opt-out option so you haven't yeah but supposedly yeah i mentioned that but supposedly

488
00:34:20,196 --> 00:34:25,756
it's like super dark pattern like it's really difficult to find and do and execute i'm not an

489
00:34:25,756 --> 00:34:35,796
anthropic user myself but uh our buddy sean uh uh bitcoin park member is and he said he tried to

490
00:34:35,796 --> 00:34:41,756
opt out he posted on us he tried to opt out it was very difficult and also once again like they're

491
00:34:41,756 --> 00:34:47,356
still saving your chats for five years you can't opt out of that part um so who the hell knows uh

492
00:34:47,356 --> 00:34:53,136
You're still trusting them that the opt-out toggle actually is an opt-out toggle and actually doing shit.

493
00:34:55,076 --> 00:34:55,676
Yeah.

494
00:34:57,716 --> 00:35:09,916
Anthropic frames the changes around user choice saying that by not opting out, users will help us improve model safety, make mind systems for detecting harmful content more accurate and less likely to flag harmless conversations.

495
00:35:10,456 --> 00:35:11,476
Rewrite another way.

496
00:35:11,576 --> 00:35:13,496
Like if you say bad shit, we're going to snitch on you.

497
00:35:13,496 --> 00:35:19,496
users will also help future clog models improve at skills like coding analysis and reasoning

498
00:35:19,496 --> 00:35:24,376
ultimately leading to better models for all users that's the worst part is they gaslight you as they

499
00:35:24,376 --> 00:35:32,336
do all this shit yeah it's like they just think everyone's retarded i've been to the

500
00:35:32,336 --> 00:35:39,456
people in my life i've talked to a couple of high school kids and teachers actually that are diving

501
00:35:39,456 --> 00:35:46,876
into apparently here in the philly area like the the schools are actually leaning into it at least

502
00:35:46,876 --> 00:35:51,896
some of them where i know a teacher who started last week and like the first day of orientation

503
00:35:51,896 --> 00:35:59,316
was teaching them how to use ai tools to better help create syllabuses and curriculum and find

504
00:35:59,316 --> 00:36:04,916
unique sources and he had just started playing around with it his mind was blown with chat gvt

505
00:36:04,916 --> 00:36:11,296
specifically the advice i gave him and anybody else i talked about this is just literally use it

506
00:36:11,296 --> 00:36:17,936
as a tool to find information don't treat it as your therapist don't bring any like personal

507
00:36:17,936 --> 00:36:25,196
information about your your marriage or your your life as a parent or whatever into it just like i

508
00:36:25,196 --> 00:36:31,876
need to find out what the gdp of brazil was in 2017 or something like that i mean what's better

509
00:36:31,876 --> 00:36:40,096
is just use maple that is or self-host self-host or use something that's actually private like maple

510
00:36:40,096 --> 00:36:46,556
because i think most at the end of the day like if advice requires nuance like most people will

511
00:36:46,556 --> 00:36:51,136
fuck it up um but yeah like you can like back your way into answers that don't

512
00:36:51,136 --> 00:36:56,016
dox too much information about you but it's quite difficult uh

513
00:36:56,016 --> 00:37:02,996
most people won't it's better if we just have private or self-hosted tools that are inherently

514
00:37:02,996 --> 00:37:09,336
private um and people use those instead because i'm telling you marty like the overwhelming

515
00:37:09,336 --> 00:37:13,156
majority of people you can like when you listen to normie shows and stuff they're just like

516
00:37:13,156 --> 00:37:19,396
putting their entire life into chat gpt just everything uploading documents medical records

517
00:37:19,396 --> 00:37:20,796
like literally

518
00:37:20,796 --> 00:37:22,156
connecting their emails

519
00:37:22,156 --> 00:37:24,916
that's what

520
00:37:24,916 --> 00:37:26,336
perplexity they launched

521
00:37:26,336 --> 00:37:28,356
I think it's called

522
00:37:28,356 --> 00:37:29,096
comment browser

523
00:37:29,096 --> 00:37:31,616
and I downloaded it

524
00:37:31,616 --> 00:37:32,656
for literally two minutes

525
00:37:32,656 --> 00:37:33,816
because as soon as you open it

526
00:37:33,816 --> 00:37:34,836
it's like connect your Gmail

527
00:37:34,836 --> 00:37:35,816
and your calendars

528
00:37:35,816 --> 00:37:36,176
and all this

529
00:37:36,176 --> 00:37:36,796
I was like nope

530
00:37:36,796 --> 00:37:37,356
I'm good

531
00:37:37,356 --> 00:37:39,416
no yeah there's

532
00:37:39,416 --> 00:37:41,376
there's some

533
00:37:41,376 --> 00:37:41,856
by the way

534
00:37:41,856 --> 00:37:43,116
if you haven't used Maple

535
00:37:43,116 --> 00:37:44,236
you can search Maple AI

536
00:37:44,236 --> 00:37:45,156
in your favorite app store

537
00:37:45,156 --> 00:37:46,656
go to try maple.ai

538
00:37:46,656 --> 00:37:48,356
give it a spin

539
00:37:48,356 --> 00:37:48,936
it's still

540
00:37:48,936 --> 00:37:54,596
a work in progress but if you subscribe it helps speed up development and those guys are a two-man

541
00:37:54,596 --> 00:38:01,476
team they're bootstrapping everything i mean 1031 is a is an investor um but we're talking like

542
00:38:01,476 --> 00:38:06,976
small pre-seed check and um they're trying to do it on a very shoestring budget which is pretty

543
00:38:06,976 --> 00:38:15,196
cool to see um you've got a i uh because on this topic some person maple's good but what are your

544
00:38:15,196 --> 00:38:21,916
thoughts on venice like venice have you ever used it it's vorhees's thing yeah it's privacy

545
00:38:21,916 --> 00:38:27,796
just like trust me bro privacy like yeah i don't think there's any actual privacy guarantees there

546
00:38:27,796 --> 00:38:33,716
um and it also relies on the shitcoin i think but i haven't used it and so i can't really speak

547
00:38:33,716 --> 00:38:43,436
heavily on it um i'm not but uh i see someone else mentioning start nine like

548
00:38:43,436 --> 00:38:48,416
yeah like i would like to see it become easier to self-host and i think star 9 is going to play a

549
00:38:48,416 --> 00:38:53,576
key role there just self-host these open models but i also think at the end of the day most people

550
00:38:53,576 --> 00:38:57,916
are going to actually want like a signal type environment where you have secure enclaves in

551
00:38:57,916 --> 00:39:05,596
the cloud that give you the convenience of these hosted models but with pretty strong privacy

552
00:39:05,596 --> 00:39:12,516
guarantees i think that's probably the sweet spot in terms of user base but it's always important

553
00:39:12,516 --> 00:39:14,636
that we also have self-hosted options,

554
00:39:14,876 --> 00:39:17,756
at least for power users or people that care more.

555
00:39:18,716 --> 00:39:20,796
But that will always be more inconvenient.

556
00:39:21,556 --> 00:39:23,256
Just onto your previous point, Marty.

557
00:39:23,696 --> 00:39:25,836
I mean, the dark pattern we're seeing with these AI tools

558
00:39:25,836 --> 00:39:27,216
is it's the first real,

559
00:39:27,596 --> 00:39:30,476
you're talking about perplexity as browser.

560
00:39:31,416 --> 00:39:35,016
It's the first real time since the invention of the ad model

561
00:39:35,016 --> 00:39:38,536
where big tech has like a really, really strong incentive

562
00:39:38,536 --> 00:39:41,976
to just hoover up as much data on us as possible.

563
00:39:42,516 --> 00:39:47,236
and you got to just follow the incentives all the way down, right?

564
00:39:47,256 --> 00:39:49,696
Like if they can make a shit ton of money surveilling us,

565
00:39:50,216 --> 00:39:52,176
they're going to do it.

566
00:39:52,696 --> 00:39:56,816
And so you mix the ad model in with these LLM models,

567
00:39:56,816 --> 00:39:59,196
and then all of a sudden it just gets supercharged

568
00:39:59,196 --> 00:40:00,616
and just that much more evil.

569
00:40:01,336 --> 00:40:02,176
Pretty fucked up.

570
00:40:04,336 --> 00:40:05,596
Very fucked up.

571
00:40:05,596 --> 00:40:09,076
And like on this note, everybody's hot and bothered with,

572
00:40:09,076 --> 00:40:13,396
with

573
00:40:13,396 --> 00:40:15,376
AI

574
00:40:15,376 --> 00:40:17,876
it does feel a bit bubbly right now.

575
00:40:17,956 --> 00:40:20,216
It feels like there may be some deflation in the AI

576
00:40:20,216 --> 00:40:21,516
bubble. NVIDIA came out.

577
00:40:21,996 --> 00:40:24,256
I don't know if it was an earnings report this week

578
00:40:24,256 --> 00:40:25,956
or just a shareholder

579
00:40:25,956 --> 00:40:26,416
call.

580
00:40:27,496 --> 00:40:29,636
They revealed that 25%

581
00:40:29,636 --> 00:40:32,156
of their revenue, I believe year to date

582
00:40:32,156 --> 00:40:34,096
is coming from one

583
00:40:34,096 --> 00:40:36,176
client out of Singapore.

584
00:40:37,656 --> 00:40:38,136
Man.

585
00:40:38,136 --> 00:40:43,216
it's probably trying to yeah just getting out of chinese export because there's chinese export

586
00:40:43,216 --> 00:40:47,956
restrictions so they do it out of singapore instead i mean look i think uh there's obviously

587
00:40:47,956 --> 00:40:52,716
insane amount of money floating around there and it's so early if i'm gonna put my investor hat on

588
00:40:52,716 --> 00:40:56,636
it's so early it's really hard to figure out where that value is actually going to be captured

589
00:40:56,636 --> 00:41:02,676
i mean if you listen to people talking about ai shit and ai hype on the investing side they're

590
00:41:02,676 --> 00:41:08,296
often talking about top line revenue. You'll hear ARR be repeated over and over again,

591
00:41:08,416 --> 00:41:13,456
annual recurring revenue. But they never talk about margins or how much profit they're making.

592
00:41:14,336 --> 00:41:20,776
So the real question is, where will the profit be driven? Who will capture that profit? And I think

593
00:41:20,776 --> 00:41:26,376
most people have no idea right now. I think you're kind of making a guess. And there's so much money

594
00:41:26,376 --> 00:41:35,516
sloshing around that you can basically bet that for every $10 that's being thrown into that space,

595
00:41:36,016 --> 00:41:42,476
maybe $1 is actually allocated to the right spot, just because there's so much and there's so little

596
00:41:42,476 --> 00:41:49,556
we understand in the value capture chain. So high risk, high reward, at least on the investor side

597
00:41:49,556 --> 00:41:55,116
with the 1031 hat on, we're being very conservative in that regard,

598
00:41:55,816 --> 00:41:58,836
particularly compared to the traditional venture peers

599
00:41:58,836 --> 00:42:02,476
that we compete against, the A16Zs, the Sequoias of the world.

600
00:42:04,996 --> 00:42:09,756
But yeah, I think there's probably going to be a reckoning there

601
00:42:09,756 --> 00:42:11,476
for a lot of people.

602
00:42:13,836 --> 00:42:16,136
Evaluations are insane in the AI space.

603
00:42:16,696 --> 00:42:19,176
But on this topic, you vibe-coded something this week.

604
00:42:19,556 --> 00:42:28,436
last week? Yeah. So as the freaks know, this cycle, I've proclaimed that I'm not going to be

605
00:42:28,436 --> 00:42:34,396
making price predictions, which has just been killing me. So I had everyone else on Nostra

606
00:42:34,396 --> 00:42:39,776
make price predictions instead. I actually, I put my son to sleep and I was going to bed.

607
00:42:39,936 --> 00:42:44,716
Right before I went to bed, I sent out this Nostra note and I said, let's play a game,

608
00:42:44,716 --> 00:42:51,156
And guess the USD Bitcoin price a month from now, September 26th at 414 UTC.

609
00:42:52,296 --> 00:42:54,596
I said people had 24 hours to make a guess.

610
00:42:54,956 --> 00:42:55,776
I went to sleep.

611
00:42:56,176 --> 00:42:57,156
I woke up.

612
00:42:57,296 --> 00:42:58,836
There were 600 responses.

613
00:42:59,216 --> 00:43:00,576
I was like, what the fuck?

614
00:43:00,796 --> 00:43:02,116
Did not expect that.

615
00:43:03,216 --> 00:43:05,456
And I was like, how am I going to go through all these responses?

616
00:43:06,456 --> 00:43:13,236
So then I went on to Shakespeare.DIY, which is maintained by Alex Gleason.

617
00:43:13,236 --> 00:43:15,836
I recently had him on Sillow Dispatch twice.

618
00:43:16,696 --> 00:43:18,196
Definitely go listen to those episodes.

619
00:43:18,336 --> 00:43:20,276
He's a fascinating individual.

620
00:43:20,496 --> 00:43:23,196
I'm very happy that we have him building on Bitcoin and Noster.

621
00:43:23,356 --> 00:43:27,316
He formally built out Truth Social for Trump just for a little bit of his resume.

622
00:43:27,616 --> 00:43:31,756
But in three prompts, I vibe coded this portal to track the predictions.

623
00:43:31,756 --> 00:43:34,096
It's not perfect, but it took about 15 minutes.

624
00:43:35,016 --> 00:43:36,656
I think it's pretty fucking cool.

625
00:43:36,836 --> 00:43:39,796
It originally showed when the prediction deadline is, but now that's passed.

626
00:43:40,556 --> 00:43:46,396
And Logan, if you just scroll down, it gives the current timer for when the price gets locked in.

627
00:43:46,456 --> 00:43:48,036
It shows the current Bitcoin price.

628
00:43:48,316 --> 00:43:53,276
And then it shows who is the closest to the current prediction.

629
00:43:53,376 --> 00:44:00,056
Now, one of the really cool things here is the Nostra notes themselves are the source of truth.

630
00:44:00,656 --> 00:44:04,216
And it doesn't require an API to interact with them, right?

631
00:44:04,276 --> 00:44:09,336
Because Nostra is an open data and comms identity protocol.

632
00:44:09,796 --> 00:44:16,056
So actually a bunch, anyone can just vibe their own competing site to this to track the predictions themselves.

633
00:44:16,136 --> 00:44:17,896
And they can put their own filters on it.

634
00:44:17,936 --> 00:44:19,596
They can do whatever they want with the data.

635
00:44:20,296 --> 00:44:22,416
So some people are like, oh, you should do this.

636
00:44:22,436 --> 00:44:22,976
You should do that.

637
00:44:22,976 --> 00:44:25,176
It's like, yeah, go be the change you want to see in the world.

638
00:44:25,496 --> 00:44:27,016
And you can build your own tracker.

639
00:44:27,296 --> 00:44:29,836
And if it's better than mine, then we'll use that one instead.

640
00:44:30,916 --> 00:44:39,536
But it also got me thinking with all the hype around poly market and prediction markets are something in general that I've been.

641
00:44:39,796 --> 00:44:43,716
particularly fascinated by and excited by for years now.

642
00:44:44,996 --> 00:44:51,016
Historically, the way prediction markets work is you put money on the line, right?

643
00:44:51,036 --> 00:44:57,416
And the more money you put on, the higher weight your predictive ability is treated in the market, right?

644
00:44:57,416 --> 00:45:05,736
So if you bet $100 on Trump winning the election, it matters less towards the overall prediction rate than if you bet $100,000.

645
00:45:05,736 --> 00:45:13,236
dollars well what if we also like weighted in reputation um so if you use web of trusts

646
00:45:13,236 --> 00:45:20,516
um webs of trust and reputation you could actually and something open like nostr

647
00:45:20,516 --> 00:45:25,436
you could have prediction markets or prediction whatever maybe they're not markets

648
00:45:25,436 --> 00:45:32,876
but you could have prediction tools that have a different perspective depending on who's viewing

649
00:45:32,876 --> 00:45:40,536
them. If I think certain people have better predictive capabilities in global economics

650
00:45:40,536 --> 00:45:45,136
than Marty, when Marty views the predictions, he actually sees a different outcome than I do

651
00:45:45,136 --> 00:45:50,256
because he has different weightings on different people. To me, that's pretty fascinating.

652
00:45:51,256 --> 00:45:59,516
Basically, right here, the only incentive here is the winner of this gets 5,000 sats and

653
00:45:59,516 --> 00:46:02,476
and street cred.

654
00:46:03,836 --> 00:46:05,676
So it was very low cost.

655
00:46:06,196 --> 00:46:07,856
700 people responded, I think.

656
00:46:08,336 --> 00:46:11,216
My vibe-coded website is only tracking 400 of them.

657
00:46:11,676 --> 00:46:13,616
So some work needs to be done.

658
00:46:14,376 --> 00:46:17,976
But I promise you, Freaks, if you win...

659
00:46:17,976 --> 00:46:18,536
Yeah, go on.

660
00:46:18,976 --> 00:46:21,016
I was going to say, if you toggle from Primal to Nostra.band,

661
00:46:21,116 --> 00:46:21,816
it picks them all up.

662
00:46:23,116 --> 00:46:23,956
Oh, awesome. There you go.

663
00:46:23,956 --> 00:46:28,256
You can switch relays, which is pretty cool.

664
00:46:28,256 --> 00:46:35,396
but I promise you freaks if someone wins and it's not on the price prediction thing and you're not a

665
00:46:35,396 --> 00:46:42,256
bot like I'm I'll pay out and I actually don't think I needed the vibe thing to I just thought

666
00:46:42,256 --> 00:46:53,264
that was fun but to track it because I also can be pretty positive that if someone guesses it right they going to let me know that they guessed it right They not going to go quietly in the night

667
00:46:54,144 --> 00:46:55,284
Do you have an alarm set?

668
00:46:55,284 --> 00:46:58,584
What do you mean?

669
00:46:59,444 --> 00:47:00,124
Make you aware?

670
00:47:02,564 --> 00:47:09,464
Yeah, so the vibe, that site, when the countdown ends,

671
00:47:09,744 --> 00:47:12,204
the price will lock in on that site.

672
00:47:12,204 --> 00:47:23,524
and it should say who is the winner boss um oh the other funny thing is the prize was 5 555 sats

673
00:47:23,524 --> 00:47:29,784
but i spent 27 000 sats to vibe code the tracker well that was the other cool thing i should have

674
00:47:29,784 --> 00:47:33,884
made the prize more i was just playing around this is another great example of a

675
00:47:33,884 --> 00:47:41,884
their paper call if you use claude son of four which is the paper call version i imagine you're

676
00:47:41,884 --> 00:47:49,384
paying with bitcoin well yeah that's i was this was paper call um yeah and i paid with bitcoin

677
00:47:49,384 --> 00:47:58,004
through shakespeare.diy um and uh so it's not a subscription it's like how big is the project how

678
00:47:58,004 --> 00:48:02,984
many prompts do you do like i said this was three prompts but it kind of got a little the context

679
00:48:02,984 --> 00:48:05,924
window got a little bit big i probably could have done it a little bit more efficiently

680
00:48:05,924 --> 00:48:12,124
um it was fun though it was a fun little experiment i would say marty i think you know what

681
00:48:12,124 --> 00:48:20,864
do you know what this means right what live rhr bet tracker isn't that's what's next

682
00:48:20,864 --> 00:48:27,184
um it's something we've dreamed of for a while um so we actually don't have that many outstanding

683
00:48:27,184 --> 00:48:32,564
bets right now but we'll make the live rhr bet tracker and then we'll escalate our betting

684
00:48:32,564 --> 00:48:34,324
to fill it up a little bit.

685
00:48:35,684 --> 00:48:36,724
We have...

686
00:48:38,464 --> 00:48:39,924
Yeah, you're going to pay me for BitBonds.

687
00:48:40,084 --> 00:48:41,484
That's it. That's the only one.

688
00:48:41,844 --> 00:48:42,244
BitBonds.

689
00:48:43,664 --> 00:48:45,204
I've been on a winning streak lately

690
00:48:45,204 --> 00:48:48,044
since my wife told me to stop betting on mempools.

691
00:48:51,644 --> 00:48:52,484
Speaking of betting,

692
00:48:52,864 --> 00:48:54,764
betting on mempools is probably wiser than

693
00:48:54,764 --> 00:48:57,164
betting on shitcoins if you're an endowment.

694
00:48:57,824 --> 00:48:59,664
The University of Chicago blew their endowment

695
00:48:59,664 --> 00:49:01,484
on shitcoins.

696
00:49:01,484 --> 00:49:04,384
The story came from the Stanford review.

697
00:49:04,644 --> 00:49:09,084
You have a competing university calling out University of Chicago.

698
00:49:09,904 --> 00:49:17,624
It's pretty fucked up because they're like, in the article, they're like, University of Chicago is like teeny weeny endowment compared to Stanford.

699
00:49:20,764 --> 00:49:24,084
Let me find the good juicy part here.

700
00:49:24,084 --> 00:49:29,504
we're requesting that all university researchers working on federal grants temporarily suspend

701
00:49:29,504 --> 00:49:34,264
their non-personnel spending on federal grants as much as possible during this period of substantial

702
00:49:34,264 --> 00:49:39,204
uncertainty for example do not make any additional spending commitments purchase new supplies or

703
00:49:39,204 --> 00:49:46,184
equipment start new experiments embark unfunded travel etc so this was an email that university

704
00:49:46,184 --> 00:49:53,244
chicago sent out to all their grant recipients which i guess started a trail of questions of why

705
00:49:53,244 --> 00:50:00,404
why are we stopping these grants what's happening here which led to um basically the unveiling of

706
00:50:00,404 --> 00:50:11,804
fact that uh university of chicago went heavy into uh shit coins in 2020 i believe um and

707
00:50:11,804 --> 00:50:19,644
you're sort of you're they're like backing into the conclusion that they're down big on shit coins

708
00:50:19,644 --> 00:50:24,784
because the University of Chicago doesn't disclose investment performance or allocations by asset class,

709
00:50:24,924 --> 00:50:27,624
make it difficult to pinpoint exactly what went wrong.

710
00:50:27,704 --> 00:50:32,864
However, its target allocations reveal its ideal allocation to private debt and absolute return investments,

711
00:50:32,964 --> 00:50:38,884
including alternative assets like crypto, fell from 25.5% in 2020 to 20% in 2022,

712
00:50:39,484 --> 00:50:41,944
and seeing out a route in risky alternative investments.

713
00:50:42,484 --> 00:50:46,504
But beyond the conspicuous crypto failure, UChicago's endowment returns are abysmal.

714
00:50:46,504 --> 00:50:56,604
From 2013 to 2023, UChicago's endowment returned just 7.48% annualized versus 12.8% for the stock market and 10.8% for Ivy League schools.

715
00:50:56,744 --> 00:50:59,604
This is the Ivy and Stanford shitting on UChicago.

716
00:51:02,864 --> 00:51:10,364
I would say we didn't talk to the UChicago team specifically.

717
00:51:10,364 --> 00:51:13,384
but with our 1031 hats on,

718
00:51:13,504 --> 00:51:14,984
we've had a lot of discussions

719
00:51:14,984 --> 00:51:16,564
with various endowments

720
00:51:16,564 --> 00:51:20,244
and we've had the privilege

721
00:51:20,244 --> 00:51:21,744
of partnering with a few

722
00:51:21,744 --> 00:51:25,024
and they were getting

723
00:51:25,024 --> 00:51:27,684
just whole hog hit

724
00:51:27,684 --> 00:51:29,364
by all the crypto VCs

725
00:51:29,364 --> 00:51:31,604
and a lot of them went down

726
00:51:31,604 --> 00:51:32,864
the wrong path there

727
00:51:32,864 --> 00:51:35,744
and it was always a hard conversation to have

728
00:51:35,744 --> 00:51:36,544
because they were promised

729
00:51:36,544 --> 00:51:38,344
too good to be true returns.

730
00:51:38,344 --> 00:51:45,164
um they didn't really know better um and we're starting to really watch that basically watch what

731
00:51:45,164 --> 00:51:50,424
we said privately and publicly on the show kind of play out among all these investment committees

732
00:51:50,424 --> 00:51:56,824
um i think i've talked about in the past but like usually someone doesn't invest with you when you

733
00:51:56,824 --> 00:52:01,664
tell them you think they've been scammed um but i think like four years later when they're like oh

734
00:52:01,664 --> 00:52:09,404
shit we were and those guys were right um some trust can get built up there so uh i think pain

735
00:52:09,404 --> 00:52:16,484
is probably the best lesson and it's unfortunate to see you know it happened to an esteemed

736
00:52:16,484 --> 00:52:22,764
education institution such as university of chicago that's funny going and pitching a lot

737
00:52:22,764 --> 00:52:28,644
of these endowments they'll look at us like we're crazy because we're focused on bitcoin only at 1031

738
00:52:28,644 --> 00:52:32,244
and they say you're not diversified we need to diversify how do you know it's going to be bitcoin

739
00:52:32,244 --> 00:52:40,604
and it's like been around the block we've seen it uh focus is key and if you price any other asset

740
00:52:40,604 --> 00:52:46,184
in bitcoin over a five to ten year period it's going down significantly you are and it's ironic

741
00:52:46,184 --> 00:52:53,404
too so for any of you uh institutional investors whether on the endowment the pension family

742
00:52:53,404 --> 00:52:58,104
office side listening to this a lot of these institutions have no exposure to bitcoin get

743
00:52:58,104 --> 00:53:06,464
bamboozled by these crypto VCs. They go all in and they're fed the lie of pure diversification

744
00:53:06,464 --> 00:53:14,224
where really they're all concentrated on highly speculative crypto projects. And a lot of those

745
00:53:14,224 --> 00:53:21,704
crypto funds have no exposure to Bitcoin, spot Bitcoin, or the companies building out infrastructure

746
00:53:21,704 --> 00:53:26,844
for Bitcoin. So a lot of these institutions think they have exposure to crypto, which they do,

747
00:53:26,844 --> 00:53:28,964
but they have no exposure to Bitcoin,

748
00:53:29,264 --> 00:53:32,784
which is just a compounded loss

749
00:53:32,784 --> 00:53:35,784
in terms of missing out on the upside of Bitcoin

750
00:53:35,784 --> 00:53:36,844
and the Bitcoin ecosystem.

751
00:53:37,884 --> 00:53:42,044
Yeah, so they're wrong on the diversification line

752
00:53:42,044 --> 00:53:42,744
to begin with,

753
00:53:43,044 --> 00:53:45,144
and then they're not actually even diversified.

754
00:53:47,644 --> 00:53:48,124
Yeah.

755
00:53:49,344 --> 00:53:55,944
I won't say who, but I'm having flashbacks to a call where

756
00:53:56,844 --> 00:54:00,744
Matt had to politely explain stacks to an institution.

757
00:54:03,904 --> 00:54:06,704
I did like the deep breath sailor meme.

758
00:54:10,704 --> 00:54:13,184
I read that white paper so others didn't have to.

759
00:54:13,764 --> 00:54:15,024
I set you up for that one too.

760
00:54:15,104 --> 00:54:16,424
I was like, Matt, why don't you take this one?

761
00:54:19,064 --> 00:54:22,664
Matt's our internal stacks expert.

762
00:54:22,664 --> 00:54:31,564
it yeah this is those people didn't that that group didn't invest no they didn't like what they

763
00:54:31,564 --> 00:54:36,204
had like you said they don't like what we had to say they don't like they don't like when you say

764
00:54:36,204 --> 00:54:43,484
ah we think you made the wrong decision and you're not diversified um but here's a perfect example

765
00:54:43,484 --> 00:54:52,344
like a lot of the crypto bros are pitching web 3.0 web 2.0 is lame we got all these

766
00:54:52,344 --> 00:54:57,084
diversified blockchains we've been saying it for years a real web 3.0 is really just combining

767
00:54:57,084 --> 00:55:06,584
open source protocols in novel creative unique ways to get the censorship resistance and

768
00:55:06,584 --> 00:55:15,464
distribution necessary to produce in a particular use case and we have this on the list this week i

769
00:55:15,464 --> 00:55:20,584
didn't know about it till before we had record i was reading through the github page but this

770
00:55:20,584 --> 00:55:26,904
dtan server distributed torrent archive on nostr self-replicating torrent index built on nostr

771
00:55:26,904 --> 00:55:34,684
protocol which is an incredible example of combining open source protocols um file sharing

772
00:55:34,684 --> 00:55:42,004
protocols and nostr communications protocol no blockchain necessary yeah so this is um so kieran

773
00:55:42,004 --> 00:55:50,464
of zapstream this is uh one of his side projects um looks awesome i haven't run it yet um but i

774
00:55:50,464 --> 00:55:56,024
love the concept um basically if you've ever used torrents it's hard to find like a reputable

775
00:55:56,024 --> 00:56:02,644
index um on which torrents are good torrents and which torrents are are not as useful or poor

776
00:56:02,644 --> 00:56:12,844
quality. Chorrents specifically have kind of developed like their own little ecosystem where

777
00:56:12,844 --> 00:56:17,744
you have like private clubs that are invite only that tend to have the best index lists.

778
00:56:18,544 --> 00:56:23,284
And then you have stuff like Pirate Bay and the more open ones that are kind of filled with a

779
00:56:23,284 --> 00:56:30,284
bunch of trash that are hard to sort through and have ads and stuff to monetize. So the dream here

780
00:56:30,284 --> 00:56:34,364
is that you'd have distributed torrent indexes

781
00:56:34,364 --> 00:56:38,124
with webs of trust built into it, right?

782
00:56:38,284 --> 00:56:41,144
So without private groups

783
00:56:41,144 --> 00:56:44,664
and without invite-only kind of situations,

784
00:56:44,664 --> 00:56:47,364
you're able to sort through all the noise

785
00:56:47,364 --> 00:56:48,504
and find the signal

786
00:56:48,504 --> 00:56:50,624
and find the torrent files that you want.

787
00:56:51,144 --> 00:56:53,704
Torrents are already proven tech.

788
00:56:54,504 --> 00:56:57,324
They're great for distributing large files.

789
00:56:58,264 --> 00:56:59,964
You're in a trust-minimized way.

790
00:57:00,284 --> 00:57:13,904
And, yeah, Nostra can help with the distribution and the reputation concerns that just aren't solved by torrents natively.

791
00:57:13,904 --> 00:57:33,584
Yeah, and I'm sure they've thought about it, but you can easily, this has already been implemented in BitTorrent, but never really got popular, but putting a Bitcoin paywall in front of a file to help incentivize people to seed certain files, keep them running.

792
00:57:35,864 --> 00:57:37,244
Yeah, I don't know.

793
00:57:37,244 --> 00:57:41,304
I'm like

794
00:57:41,304 --> 00:57:43,944
I like the idea of bounties

795
00:57:43,944 --> 00:57:45,964
more than paywalls

796
00:57:45,964 --> 00:57:47,964
that's a good one

797
00:57:47,964 --> 00:57:50,044
hey I've got a thousand sats

798
00:57:50,044 --> 00:57:51,204
for anybody who will find me

799
00:57:51,204 --> 00:57:53,084
the hash of this file

800
00:57:53,084 --> 00:57:55,844
like I have the hash of a file

801
00:57:55,844 --> 00:57:58,264
I need this file and I will pay for it

802
00:57:58,264 --> 00:58:00,264
so that reverse incentive

803
00:58:00,264 --> 00:58:01,784
I like that

804
00:58:01,784 --> 00:58:03,924
and

805
00:58:03,924 --> 00:58:05,704
we are building that out on

806
00:58:05,704 --> 00:58:07,544
Noster with Blossom spec,

807
00:58:07,924 --> 00:58:09,124
which I'm pretty excited about.

808
00:58:10,044 --> 00:58:10,144
Yeah.

809
00:58:13,204 --> 00:58:14,824
But you can do it with Torrance too.

810
00:58:15,644 --> 00:58:15,864
Yeah.

811
00:58:17,524 --> 00:58:20,164
All right, we hit everything on the list.

812
00:58:21,644 --> 00:58:23,044
Nice, we got our tight hour.

813
00:58:24,124 --> 00:58:24,844
Tight hour.

814
00:58:27,244 --> 00:58:30,444
While everybody's fighting over medium exchange,

815
00:58:31,724 --> 00:58:32,724
store of value,

816
00:58:33,104 --> 00:58:34,764
we're going to try and bring you the signal

817
00:58:34,764 --> 00:58:51,384
And while everybody else is focused on paper Bitcoin summer, I will say there's a lot of good building going on in the space that really bring Bitcoin back to its cypherpunk roots and is trying to ensure that the protocol is sufficiently distributed.

818
00:58:51,384 --> 00:58:59,864
had a really good conversation with Tyler Stevens from the space in Exergy earlier this week so just

819
00:58:59,864 --> 00:59:07,124
pulling up the tweet here but I think they're doing really cool things to bring mining to

820
00:59:07,124 --> 00:59:13,504
the world of heating industrial and residential heating and so what you're seeing here on screen

821
00:59:13,504 --> 00:59:19,764
is a prototype that they built at the space in Denver which is a Bitcoin co-working and event

822
00:59:19,764 --> 00:59:23,244
space that you should go check out if you're ever in Denver. I haven't been yet, need to go.

823
00:59:23,624 --> 00:59:29,644
But it was pretty cool talking to him, how they built this and the potential for mining to replace

824
00:59:29,644 --> 00:59:35,384
home heating systems, mining machines or just heaters at the end of the day. And I think what

825
00:59:35,384 --> 00:59:40,384
was most inspiring and made me incredibly optimistic about this conversation is that

826
00:59:40,384 --> 00:59:44,944
I think we're getting to the point of ASIC commodification, where we're reaching the

827
00:59:44,944 --> 00:59:50,124
physical limits of the efficiencies that the ASICs can hit in terms of joules per terahash,

828
00:59:50,244 --> 00:59:55,944
where it seems like mining is destined to go back into the home in one way or another.

829
00:59:56,144 --> 01:00:01,564
And I think this heating use case is a perfect vehicle to bring mining back home.

830
01:00:01,564 --> 01:00:09,564
So I'm actually incredibly bullish on the long-term potential of sufficient geographic

831
01:00:09,564 --> 01:00:14,704
hash rate distribution and hash rate ownership because of applications like this.

832
01:00:14,704 --> 01:00:29,584
And it's just really cool to see that Tyler, I didn't really, I've met him and we met for the first time in Nashville beginning of this year, but I've seen him two or three other times at conferences across the country, most recently in Georgia at the Proto event.

833
01:00:30,084 --> 01:00:31,944
But this was the first time I heard his background.

834
01:00:32,144 --> 01:00:39,364
He was working for a defense contractor, quit his job, decided to go all in on Bitcoin mining and heat reuse.

835
01:00:39,964 --> 01:00:43,964
And it's really cool to see him in the space building out XRG.

836
01:00:44,704 --> 01:00:50,624
put his money where his mouth is walk i mean on the topic of real bitcoin fall

837
01:00:50,624 --> 01:00:57,224
as we phase out of paper bitcoin summer um i'm having the boys from frost snap on

838
01:00:57,224 --> 01:01:06,204
seal dispatch today i think i said 1900 utc it's 2100 utc i'm usually good on my utc map but 5 p.m

839
01:01:06,204 --> 01:01:11,744
eastern time they have a new hardware wallet that's coming out that's used as for all you have

840
01:01:11,744 --> 01:01:20,664
it on you um that is it's like human centipede so that it has usb ports and then you plug it into

841
01:01:20,664 --> 01:01:26,264
your phone and then you make a multi-sig by plugging them into each other um they got like

842
01:01:26,264 --> 01:01:31,324
little screens on them i'm sure they appreciate you calling their their product the human centipede

843
01:01:31,324 --> 01:01:37,464
of bitcoin well it's bitcoin centipede is what it is it's bitcoin centipede but it's supposed to

844
01:01:37,464 --> 01:01:43,544
make multi-sig very easy to use, especially in a mobile-first environment. So I'm pretty excited

845
01:01:43,544 --> 01:01:48,484
to talk to them about that. All these different tools to make self-custody Bitcoin easier,

846
01:01:49,464 --> 01:01:56,224
Bitcoin is free to money easier. I think that's how we win, is making that ecosystem more robust,

847
01:01:56,364 --> 01:02:01,944
making the education more robust, increasing the user base on that front. So less complaining on

848
01:02:01,944 --> 01:02:07,724
socials and more like actually doing things that change things uh it's the way

849
01:02:07,724 --> 01:02:13,964
and then on the frost i'm like i think it's a really cool invention i guess you say a really

850
01:02:13,964 --> 01:02:17,944
cool product in the sense that like it makes multi-sig tangible because you need them

851
01:02:17,944 --> 01:02:25,124
connected right to get the frost star should to actually sign a key and there's another there's

852
01:02:25,152 --> 01:02:25,992
Something intuitive.

853
01:02:26,252 --> 01:02:31,172
No, I think it's just, I think the human sent, the Bitcoin sent to Pete for, well, I'll ask them.

854
01:02:31,432 --> 01:02:34,292
We'll have this conversation later, but I think it's just for setup.

855
01:02:35,132 --> 01:02:38,592
I think you can, like the coordinators, the phone, right?

856
01:02:38,612 --> 01:02:45,912
So if you have like one in your office, one in a safe deposit box and one at your home, I think you can individually plug them into sign.

857
01:02:46,252 --> 01:02:46,612
Yes.

858
01:02:46,872 --> 01:02:48,532
But when you're doing the setup.

859
01:02:49,112 --> 01:02:50,572
You have to plug them in though, right?

860
01:02:50,772 --> 01:02:51,572
To sign, I believe.

861
01:02:52,112 --> 01:02:52,772
Yeah, correct.

862
01:02:52,772 --> 01:02:54,832
Yeah, they use USB-C.

863
01:02:54,832 --> 01:02:56,552
so it just plugs right into the bottom of the phone.

864
01:02:58,872 --> 01:03:01,212
But to set it up, you set it up by

865
01:03:01,212 --> 01:03:03,932
say coin centipeding them together.

866
01:03:06,332 --> 01:03:07,012
Pretty cool.

867
01:03:07,632 --> 01:03:08,572
Did you ever watch that movie?

868
01:03:08,652 --> 01:03:09,872
I never watched you even centipede.

869
01:03:10,672 --> 01:03:12,612
No, but I saw the South Park about it.

870
01:03:13,432 --> 01:03:13,932
I did too.

871
01:03:16,412 --> 01:03:18,372
No, I'm not going to watch that fucking movie.

872
01:03:18,372 --> 01:03:20,272
It was a creepy fucking movie.

873
01:03:24,832 --> 01:03:25,472
All right.

874
01:03:26,852 --> 01:03:30,972
I'm going to get back to my new chaotic life,

875
01:03:31,412 --> 01:03:32,752
which is great, great chaos.

876
01:03:35,992 --> 01:03:37,452
Yeah, it's been a good week.

877
01:03:37,972 --> 01:03:38,652
It's been a good week.

878
01:03:40,172 --> 01:03:41,032
More children.

879
01:03:42,552 --> 01:03:43,152
Make babies.

880
01:03:43,872 --> 01:03:47,132
If you're margin-long micro-strategy,

881
01:03:47,252 --> 01:03:48,312
maybe it's not a good week for you,

882
01:03:48,532 --> 01:03:50,852
but maybe we stay humble, stack sats,

883
01:03:50,932 --> 01:03:51,932
and keep making babies.

884
01:03:52,152 --> 01:03:53,192
That's the simple life.

885
01:03:53,192 --> 01:03:59,892
you know that's how we win oh on that note my favorite psyop of all time i think is uh

886
01:03:59,892 --> 01:04:15,124
huge congratulations to t swift and and kelsey for getting engaged marty they gonna get married they gonna have four linebacker children and they gonna bring bring in the next great american generation

887
01:04:15,124 --> 01:04:21,604
we're gonna reverse the birth decline gdp is gonna go through the roof t swift is gonna save us all

888
01:04:21,604 --> 01:04:27,764
or is it gonna end up like tom brady and giselle we're in like 20 years t swift dumps

889
01:04:27,764 --> 01:04:31,064
Travis Kelsey and start soaking up with their jujitsu instructor.

890
01:04:31,284 --> 01:04:32,944
That's a possible timeline as well.

891
01:04:33,884 --> 01:04:38,004
Look, as long as we have 20 years of increased birth rate,

892
01:04:38,084 --> 01:04:42,644
increased marriages, then the PSYOP was successful.

893
01:04:42,724 --> 01:04:44,484
It doesn't matter what happens after that 20 years.

894
01:04:44,584 --> 01:04:44,764
It's true.

895
01:04:45,344 --> 01:04:45,644
It's true.

896
01:04:46,604 --> 01:04:48,024
Be kind to people out there.

897
01:04:48,244 --> 01:04:48,684
Be kind.

898
01:04:48,924 --> 01:04:52,904
There's a lot of vitriol out there.

899
01:04:52,904 --> 01:04:54,664
I mean, the whole reaction.

900
01:04:55,864 --> 01:04:57,044
I won't even get into it.

901
01:04:57,044 --> 01:04:57,864
Just be kind to people.

902
01:04:58,384 --> 01:05:01,584
Did you see Feebo's comment in the YouTube on that note?

903
01:05:02,424 --> 01:05:03,704
Just bobbing in my mouth.

904
01:05:06,324 --> 01:05:09,584
Look, I think what you meant to say is thank you, T-Swift.

905
01:05:09,964 --> 01:05:11,224
Thank you for saving us all.

906
01:05:13,224 --> 01:05:14,784
And I see Elle in the chat.

907
01:05:14,924 --> 01:05:18,004
Giselle has many babies, so thank you, Giselle.

908
01:05:18,964 --> 01:05:20,244
Yeah, thank you, Giselle.

909
01:05:21,024 --> 01:05:22,864
I think she's pregnant again with the new guy.

910
01:05:24,404 --> 01:05:25,424
I do not follow.

911
01:05:25,424 --> 01:05:26,524
So, but.

912
01:05:27,044 --> 01:05:28,264
While we're on sports ball,

913
01:05:29,064 --> 01:05:30,844
Kyle Schwarber hit four home runs last night.

914
01:05:30,944 --> 01:05:31,604
It was pretty sick.

915
01:05:33,644 --> 01:05:34,724
Shout out to Kyle Schwarber.

916
01:05:34,844 --> 01:05:35,244
Thank you.

917
01:05:36,524 --> 01:05:37,604
I'm the Philadelphia's.

918
01:05:38,484 --> 01:05:38,924
There you go.

919
01:05:39,004 --> 01:05:39,884
Well, love your freaks.

920
01:05:39,964 --> 01:05:40,364
Love your Marty.

921
01:05:40,564 --> 01:05:41,404
Stay humble, Stacks heads.

922
01:05:42,084 --> 01:05:42,564
Peace and love.

923
01:05:42,804 --> 01:05:42,944
Okay.