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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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Matt and I have been talking about privacy and the importance of using a VPN for seven years now, literally seven years.

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I believe at least once every episode or two.

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It's like, hey, make sure you're running a VPN.

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I think it's especially important today where you have governments in the UK, other parts of Europe, all across the world, really trying to introduce digital ID and curbing speech with hate speech laws.

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Make sure you're protecting your privacy and shielding yourself from government surveillance as you're perusing the web.

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our VPN of choice here at RHR is Obscura is built by a Bitcoiner for Bitcoiners. Carl Dung

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bring privacy to everybody with Obscura. It is a VPN that cannot log literally by the way it's

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designed. A lot of VPNs will hand ways say we're not logging. We're not logging. You can't trust

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one of these countries where the governments are becoming extremely censorious and targeting

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citizens that exhibit wrong think you should be running a VPN. That VPN should be obscura,

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obscura.net, code RHR, 25% off. This rip was brought to you by our official electrolyte

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sponsor here at RHR, Salt of the Earth. You've been hearing Matt and I talk about it quite a bit.

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I drink multiple packets of it a day

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You gotta stay hydrated

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That's why my face looks so good

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That's why I'm getting buff

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I'm able to get to the gym more

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Because I'm hydrated

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Matt, he's looking incredible

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I'm sure you've all noticed it

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You wanna know why?

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Salt of the earth, baby

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Go to drinkssauté.com

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Use the code RHR

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You're gonna get 15% off

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I'm dead serious

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It hasn't made my life way better

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My wife, she's right behind me right now laughing

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But she's laughing because she knows it's true

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She drinks like seven a day

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I drink a few a day

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maybe seven a day too. Matt, I don't even want to tell you how much he's drinking. It's good.

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It keeps you hydrated. It keeps you alert. Keeps you ready to go. Drink saute.com. That's D-R-I-N-K-S-O-T-E.com.

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Use the code RHR for 15% off any order.

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You've had a dynamic where money's 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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What's up, freaks?

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come back to rabbit hole recap here on a beautiful beautiful thursday afternoon 2 15 eastern

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15 minutes late to this one but that was my fault this time i don't think it's that bad i don't

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think that's that we've been later before yeah i'm freaks like if we announce we announce the

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time the day before or sometimes day of oh you should always add at least 15 minutes

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it's been pretty consistent

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I can't if I add 15 minutes

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to the time then we'll be 30 minutes

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late so we have to

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give you a time and then we're

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rushing to make it

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you feel

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in the holiday spirit yet

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yeah did you see what I

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named the episode

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a Christmas miracle

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I just saw it

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just read it manifest

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I don't know what the Christmas miracle is going to be,

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but it'd be nice to have one.

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Tune in.

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Okay, now I'm going to tweet this with some clickbait.

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Let's see what the...

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Tune in.

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Some people have their Christmas show this week,

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but since we're crazy people,

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we're going to have a Christmas show next week.

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So I couldn't call this episode Merry Christmas,

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so instead it's called A Christmas Miracle.

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It's a two-parter Christmas special.

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before.

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I almost called it Merry Christmas Part 1.

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But I hate having multiple parts.

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Okay, tune in.

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We're explaining why Bitcoin's going to hit $444,444

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by Christmas.

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Okay, guys, here's what's going to happen.

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Elon Musk is going to start mining Bitcoin

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and it's going to the...

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He's going to mine Bitcoin on the moon.

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We were talking about this.

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I was talking about this last night with somebody off the record.

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This whole mining in space and AI data centers in space,

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wasn't there a conversation in Bitcoin a while ago

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where we really dove into the physics?

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I forget if it was Drew Bonsol or a couple others.

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And basically the conclusion was that you can't dissipate heat from the chip,

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so it's almost impossible to mine in space.

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And now we have this whole, we're going to put AI data centers.

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I didn't hear that.

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Isn't it cold as hell in the vacuum of space?

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there's nothing for the yeah but the thing is the space there's no atmosphere

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what are you saying i think logan's logan's trying to tell us something why don't you speak

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up logan for the heat to transfer to am i really quiet yeah you're very quiet why

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i don't know all right bye i think he was agreeing with me though i'm just gonna assume

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that he was agreeing with me i do i mean i can hear you you're just you're just very quiet

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any freaks uh in in the in the live chat on nostr or youtube if you're physics experts

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i remember i called because there's it's you can't dissipate the heat you can't move it it's

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very cold obviously but um you can't move the heat off the chips and so they would just okay

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i'm asking i'm asking maple okay i think you can hear me now i can hear you uh we can hear you

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because space is a vacuum, objects cannot lose heat through conduction,

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direct contact with a cold substance, or convection, air or water carrying heat away.

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But they can cool through radiative emission.

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I don't know. Maybe that's just AI slot.

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Is that what you were going to say, Luke?

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Radiative emission is much slower.

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Yeah.

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So is it viable or not?

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use cryogenic cooling advanced instruments like the james webb space telescope use multi-layer

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sun shields and cryo coolers to reach temperatures as low as seven kelvin for precise observations

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kelvin what an interesting temperature scale

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was it i mean i is the where kelvin starts or something i mean the crazy thing for me is i mean

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i think you could probably figure out the cooling thing the the the power aspect i can see being a

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massive advantage um but like what you just like never repair them no no no it's all ai robots that

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go up there and they can i mean it all just sounds very expensive if the goal is to keep

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costs down as low as possible it all sounds very expensive yeah um no but what else the roof also

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said that like like uh aliens were going to use coins and yeah they're going to must coin mars

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the martians will use must coin because uh yeah i don't think that's true it'll be impossible for

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the martians to propagate blocks because they're too far away from the center of hash

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but not if the center of hash is

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in orbit

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I think this solution to that is like

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lasers

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if I recall correctly

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if you could have a laser system where you could send

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kilobytes of hashing data

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like immediately across space

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they also don't need to mine

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like they could just

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you gotta go back and read your

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Drew Bonsall Bitcoin in Space

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that was the whole thing

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say this isn't fair we can't participate in the construction and propagation of blocks we are

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beholden to the whims of those earthlings and what they're doing this is suppression

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yeah but i mean how's that i i think they're gonna if there's like a successful mars colony

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there's going to be way bigger uh conflicts than uh the bitcoin side of things yeah i think this

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whole thing's stupid too because i don't think we're ever going to colonize mars nor do i think

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it's worthwhile wow you don't think we're going to colonize mars no i don't know i think we i

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think we probably will never is a long time and uh and to be fair i don't think elon's intention

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is to colonize mars like move people there he's talked about as like a base to go to other

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solar systems um that could be no elon's elon's like pitching it as like a life raft

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he's like this fucking plan is done

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this is

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Noah's Ark last time

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me and my boys are going to take essential

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employees only and abandon ship

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it would be easier to reverse

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nuclear winter than to terraform

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Mars

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yeah

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I don't think it's going to happen

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I don't know do you think the elites are

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building underground

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underground facilities

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for the coming

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apocalyptic

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shifting of the poles

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I don't think it's enjoyable

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to live underground

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I don't think it's enjoyable to live on Mars

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and I don't think it's enjoyable to live in London

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so I don't know why they would do that

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which one would be the worst

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Mars underground or

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definitely London

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Oi mate

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that ain't

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that ain't okay london's london's proper good okay this went from uh english to australian

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right i did see um one of the freaks was defending london's pub game london pubs are awesome they do

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get they do get i did say that i had to admit i've never i've never been to london i do uh have

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a fascination a romanticization of what english pubs are like and as you can see like i'm dressed

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I'm dressed perfectly for a nice pint in an English pub right now.

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You're a little bit underdressed.

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I had a Christmas recital this morning.

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I had to dress up, you know.

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You have to look like Peaky Blinders or whatever when you go to those bars.

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As always, the ride or die freaks are dwelling in our Nostra live chat.

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you can access it through primal app or any other nostril app that supports it

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um i see soap miners zapped 100 000 sats he said marty the bitcoin products.com

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web page is fantastic amazing merry christmas freaks just be clear next week is our christmas

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episode yes um well but merry christmas to you as well merry christmas to you it'll be a boxing

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day episode we'll meet on boxing day and speaking of london was that the day after that's the day

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after Christmas?

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Yeah, do you know

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what Boxing Day is for?

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What it signifies?

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It's when they box things.

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No, it's when

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all the help

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would be

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tending to

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the needs

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and the desires

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of the family

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that they served

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on Christmas.

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Obviously, it's a big holiday.

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And so,

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the help would not be able

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to participate

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themselves

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in the Christmas holiday

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with their families.

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And so, Boxing Day

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is the day after Christmas.

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You give them a big box.

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It's the underclass.

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It's when you get

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their bonus and you um you get a box full of goodies and then you get the day off you get to

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go get hammered um it's a great day to celebrate the pubs the pubs are popping on on boxing day

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highly recommend math 21 uh exactly 21 000 sats too no message thank you math 21 so what boxing

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day is friday yeah yeah i can do friday we'll do a tight rip on friday would you rather do

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christmas eve no yeah would you would you rather do christmas eve i think we doing like a three o mass so it would be yeah we not doing christmas eve um i uh i also see a comment from a freak who did not zap

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which is disappointing uh asking me if polymarket removed bitcoin support trying to make some

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returns before christmas um i stay humble stacks that's freaky but uh no they do accept bitcoin

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They automatically convert it to USDC though.

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So just be aware you can't withdraw Bitcoin.

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You can only withdraw stable USD tokens.

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But yeah, they accept Bitcoin on chain.

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Yeah.

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You down for some business on air?

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Sure.

240
00:14:35,794 --> 00:14:37,314
I'm going to be vulnerable right now.

241
00:14:37,474 --> 00:14:37,734
Yeah.

242
00:14:38,554 --> 00:14:39,674
To soap miners.

243
00:14:41,494 --> 00:14:41,974
Comment.

244
00:14:42,094 --> 00:14:42,414
Thank you.

245
00:14:42,474 --> 00:14:43,774
Number one, Bitcoin products.com.

246
00:14:43,834 --> 00:14:44,294
Go check it out.

247
00:14:44,334 --> 00:14:45,134
It is fantastic.

248
00:14:45,134 --> 00:14:50,534
But thinking about how we can make more useful for people,

249
00:14:50,594 --> 00:14:52,414
thinking about adding a rating system,

250
00:14:52,494 --> 00:14:53,734
and then we're thinking like, how do you do that

251
00:14:53,734 --> 00:14:54,694
and make sure it doesn't get sibbled?

252
00:14:55,234 --> 00:14:56,414
What do you think about the idea?

253
00:14:56,634 --> 00:15:00,094
Rating system, only way you can sign in is via Noster,

254
00:15:01,094 --> 00:15:03,954
and you need to have X amount of followers

255
00:15:03,954 --> 00:15:06,394
and Y amount of posts about Bitcoin,

256
00:15:06,854 --> 00:15:08,814
and then you're allowed to post a rating.

257
00:15:10,454 --> 00:15:10,854
I like that.

258
00:15:11,814 --> 00:15:12,934
Relatively sibble resistant.

259
00:15:12,934 --> 00:15:14,694
It can still be gamed, but it's harder.

260
00:15:15,134 --> 00:15:15,694
Yeah.

261
00:15:17,534 --> 00:15:24,474
And I figured Noster obviously has a very dense population of hardcore Bitcoiners.

262
00:15:24,654 --> 00:15:26,674
So you get some high signal from those reviews, I think.

263
00:15:27,714 --> 00:15:28,254
I like that idea.

264
00:15:28,574 --> 00:15:31,954
I thought you were going to go the zap route is where you were going.

265
00:15:33,674 --> 00:15:34,874
Well, we need to raise it.

266
00:15:35,054 --> 00:15:37,294
100,000 sats, minimum zap.

267
00:15:37,974 --> 00:15:38,754
Got to bump it up.

268
00:15:39,174 --> 00:15:40,514
No, for ratings.

269
00:15:40,514 --> 00:15:41,514
For ratings.

270
00:15:41,514 --> 00:15:47,774
but I think that's, I don't actually think that accomplishes anything except making you money.

271
00:15:50,594 --> 00:15:55,074
It doesn't really stop the civil resistance. In fact, it probably reduces the amount of

272
00:15:55,074 --> 00:16:02,294
reviews you get because you really want more ratings, more good ratings, right? Like the

273
00:16:02,294 --> 00:16:06,614
goal is to have as many good ratings as possible. One interesting thing that I've been thinking

274
00:16:06,614 --> 00:16:17,594
about a lot lately is what a lot of people don't realize is zaps as they currently stand are not

275
00:16:17,594 --> 00:16:27,834
verifiable the receiver can fake them right so as a receiver you can pretend you received zaps that

276
00:16:27,834 --> 00:16:32,794
you didn't get so when you see zaps on a post or whatever you're trusting the receiver or more

277
00:16:32,794 --> 00:16:36,334
specifically, you're trusting the receiver's wallet, right? So if the receiver's using Primal

278
00:16:36,334 --> 00:16:40,894
wallet, Primal could fake the Zaps. If they're using Wallet of Satoshi, Wallet of Satoshi could

279
00:16:40,894 --> 00:16:44,914
fake the Zaps. If they're using their own node, then they can fake the Zaps themselves.

280
00:16:46,534 --> 00:16:53,794
So it's hard to do any kind of real ranking systems based on Zap activity, which is what

281
00:16:53,794 --> 00:16:58,034
people's immediate thought is like, oh, like we should just rank posts by Zaps, or we should be

282
00:16:58,034 --> 00:17:04,834
able to tell who's bots and who's not by zaps but like i said it's gameable now spark which

283
00:17:05,474 --> 00:17:14,114
is light sparks um i guess you can call it a layer two network but it's designed to make it easier to

284
00:17:14,114 --> 00:17:24,034
build lightning wallets and also transfer stable coins or usd tokens um has a negative that uh

285
00:17:24,034 --> 00:17:28,634
has a negative on the privacy side that it settles,

286
00:17:28,634 --> 00:17:30,254
it settles on chain on Spark

287
00:17:30,254 --> 00:17:32,314
every time you do a lightning transaction.

288
00:17:33,274 --> 00:17:35,054
So if someone has your Spark address,

289
00:17:35,054 --> 00:17:38,034
they can see all of your transactions

290
00:17:38,034 --> 00:17:39,054
that you made on lightning.

291
00:17:39,054 --> 00:17:42,874
So lightning usually has pretty solid privacy guarantees,

292
00:17:42,874 --> 00:17:45,054
but not if you're using a Spark enabled wallet.

293
00:17:46,134 --> 00:17:48,234
So let me use a real world example.

294
00:17:48,234 --> 00:17:50,994
Like if you paid a wallet a Satoshi user

295
00:17:50,994 --> 00:17:53,434
and you pulled their Spark address from,

296
00:17:54,034 --> 00:17:58,994
the invoice, you could then go into a Spark Explorer and view all of the

297
00:18:00,074 --> 00:18:01,274
transactions they've made.

298
00:18:01,274 --> 00:18:05,994
It's a, and it's kind of weird thinking about it from a Bitcoin perspective

299
00:18:05,994 --> 00:18:08,194
because it's a reused address.

300
00:18:08,194 --> 00:18:11,674
But if you think about it from the shit corner perspective, right?

301
00:18:11,674 --> 00:18:15,674
Like Tron or Ethereum or Solana, that's exactly how those networks work.

302
00:18:15,674 --> 00:18:18,194
It's like an account based system on Bitcoin essentially.

303
00:18:18,194 --> 00:18:20,794
Exactly. It's exactly how those networks work, right?

304
00:18:20,794 --> 00:18:26,354
Like if someone pays you from Solana, a Solana address, you can look up their Solana address and see every transaction they've ever made.

305
00:18:26,654 --> 00:18:28,154
Anyway, this is all very long winded.

306
00:18:28,154 --> 00:18:41,774
One benefit of that is we could have verifiable zaps on Spark because you would be able to easily see the cryptographic proof of every transaction that was made without trusting the receiver.

307
00:18:42,714 --> 00:18:43,774
But anyway, that was...

308
00:18:43,774 --> 00:18:47,254
Wait, so they're making an on-chain transaction for every Spark transaction?

309
00:18:47,654 --> 00:18:49,514
It's an on-chain Spark transaction.

310
00:18:49,514 --> 00:18:50,794
It's a non-Spark change.

311
00:18:50,914 --> 00:18:52,814
Oh, so it's like a side chain.

312
00:18:53,714 --> 00:18:55,534
Yeah, that's why I said layer two.

313
00:18:55,734 --> 00:18:56,154
I don't know.

314
00:18:56,254 --> 00:18:57,954
You can argue about semantics.

315
00:18:59,254 --> 00:19:00,694
Okay, now I get it.

316
00:19:01,074 --> 00:19:01,694
Now I get it.

317
00:19:03,234 --> 00:19:05,694
Does ARK have the same thing with VTXOs?

318
00:19:07,634 --> 00:19:11,814
I don't fully understand how ARK works, to be honest,

319
00:19:11,874 --> 00:19:14,514
even though I did a whole hour and a half episode

320
00:19:15,034 --> 00:19:18,274
with Alex B on it.

321
00:19:18,274 --> 00:19:30,654
I mean, if you go, I've said this in the past, if you go to the early days of us talking about lightning, like we didn't really understand lightning until we used it for months.

322
00:19:32,074 --> 00:19:36,214
So like, I'm not going to like kill myself reading white papers and stuff.

323
00:19:36,574 --> 00:19:41,314
I want, I'll use the, we'll use the tools and then we'll have a better understanding.

324
00:19:41,314 --> 00:19:48,674
like i remember we were doing the lightning torch and i wanted to do uh i was trying to send to

325
00:19:48,674 --> 00:19:53,874
dorsey and we wanted to do it the proper way with like full node to full node and like we would send

326
00:19:53,874 --> 00:20:00,434
one transaction and then we couldn't send a second one and we're like what the like

327
00:20:00,434 --> 00:20:05,074
why did the test transaction work but the second one didn't work it's because of lightning liquidity

328
00:20:05,074 --> 00:20:09,874
right yeah but like i that's a completely foreign concept in the beginning of lightning

329
00:20:10,674 --> 00:20:14,514
Like now it's second nature. Like, of course it's a liquidity game and you have to manage your

330
00:20:14,514 --> 00:20:19,234
channels or whatever. And just because one payment works doesn't mean the next payment will work

331
00:20:19,234 --> 00:20:22,754
because you just used up all your liquidity. Or just because you can pay in one direction doesn't

332
00:20:22,754 --> 00:20:29,314
mean you can pay in the other direction, right? Yeah. So yeah, I don't know the specific.

333
00:20:30,834 --> 00:20:34,674
And all this stuff, by the way, is also like a work in progress. So like originally,

334
00:20:34,674 --> 00:20:41,474
spark was broadcasting every address in so i think by no matter what you're trusting the spark

335
00:20:41,474 --> 00:20:45,634
operators they can see all the transactions but they were also like providing it publicly

336
00:20:45,634 --> 00:20:51,634
in like a public block explorer type of setting um and now they're giving people the option to

337
00:20:51,634 --> 00:20:55,394
hide from that block explorer but the spark operators still see it and i think they're

338
00:20:55,394 --> 00:21:00,114
going to do like hd wallets so that you don't have a fixed address so there's all these different

339
00:21:00,114 --> 00:21:06,194
things that are changing over time yeah um no i need to download um

340
00:21:07,554 --> 00:21:14,514
walter satoshi it's back in the united states right they came back yeah with spark yeah um

341
00:21:14,514 --> 00:21:19,634
i need to download that i need to download arcade check out the arc arc stuff yeah i

342
00:21:19,634 --> 00:21:27,074
haven't played with arc yet i need to play with arc yeah um shout out to why citadel i'm an amazing

343
00:21:27,074 --> 00:21:34,434
citadel in wyoming for sats why citadel.com that's y-w-y i saw this citadel vote with your feet so

344
00:21:34,434 --> 00:21:41,634
this guy is selling selling his wyoming house um i assume he's accepts bitcoin

345
00:21:43,474 --> 00:21:49,714
but i think the price was 680 000 it's priced in dollars not not in the coin

346
00:21:49,714 --> 00:21:53,934
Wyoming could be good

347
00:21:53,934 --> 00:21:55,034
looks like a cool house

348
00:21:55,034 --> 00:21:58,474
but yeah that's

349
00:21:58,474 --> 00:22:00,714
wycitadel.com is basically

350
00:22:00,714 --> 00:22:03,074
the webpage for his house listing

351
00:22:03,074 --> 00:22:05,814
go check it out

352
00:22:05,814 --> 00:22:07,354
go check it out

353
00:22:07,354 --> 00:22:09,714
Vague stay humble stack sats

354
00:22:09,714 --> 00:22:11,014
may the force be with you

355
00:22:11,014 --> 00:22:12,954
21,000 sat

356
00:22:12,954 --> 00:22:15,734
zap no Star Wars jokes

357
00:22:15,734 --> 00:22:17,094
we're a Lord of the Rings show sir

358
00:22:17,094 --> 00:22:18,874
why not

359
00:22:18,874 --> 00:22:21,234
I'm kidding. I'm a big Star Wars guy myself.

360
00:22:21,654 --> 00:22:23,194
Old stuff, not the new stuff.

361
00:22:25,374 --> 00:22:26,774
I think the hating Christian...

362
00:22:26,774 --> 00:22:28,314
You don't like the post-Disney stuff?

363
00:22:28,954 --> 00:22:33,054
No. I did like Rogue One. I thought Rogue One was pretty good, but...

364
00:22:33,054 --> 00:22:35,874
The other stuff, not so much.

365
00:22:36,634 --> 00:22:43,874
Mike Rama, 21,112 sats, three salutes to the crew, palindrome zap.

366
00:22:45,474 --> 00:22:46,634
All right, let's get into it.

367
00:22:46,634 --> 00:22:52,954
But Y Citadel, by the way, says, his name is Wyoming Citadel.

368
00:22:53,194 --> 00:22:54,934
Wyoming Citadel says Bitcoin's accepted.

369
00:22:56,494 --> 00:22:57,294
It's good to know.

370
00:22:58,574 --> 00:22:59,414
Bitcoin's accepted.

371
00:22:59,594 --> 00:23:06,434
And if you go buy his house, he's going to get a good deal because we're trading at 85,620 cuck bucks.

372
00:23:06,514 --> 00:23:09,534
One cuck buck is going to get you 1,168 sats.

373
00:23:11,514 --> 00:23:12,214
Excuse me.

374
00:23:12,994 --> 00:23:13,614
Excuse me.

375
00:23:13,754 --> 00:23:16,574
We're sitting at a $1.71 trillion market cap.

376
00:23:16,634 --> 00:23:20,374
We are at block height 928,451,

377
00:23:20,534 --> 00:23:24,094
which means we are approaching the next difficulty adjustment,

378
00:23:24,514 --> 00:23:26,874
which is 925 blocks away.

379
00:23:27,934 --> 00:23:29,074
Estimated to come on Christmas.

380
00:23:29,334 --> 00:23:30,474
It was Christmas Eve last year.

381
00:23:30,474 --> 00:23:31,814
Did China ban Bitcoin again?

382
00:23:32,194 --> 00:23:32,994
Bitcoin mining again?

383
00:23:33,354 --> 00:23:34,054
We'll get into it.

384
00:23:34,114 --> 00:23:34,854
We'll get into it.

385
00:23:35,154 --> 00:23:36,234
I don't have it on the list.

386
00:23:36,334 --> 00:23:37,034
I just remembered.

387
00:23:38,034 --> 00:23:40,134
Miners getting a Christmas gift of a downward,

388
00:23:40,214 --> 00:23:42,174
if you're plugged in, this is a gift to you.

389
00:23:43,154 --> 00:23:46,434
Downward difficulty adjustment of negative 1% on Christmas.

390
00:23:46,634 --> 00:23:48,534
day UTC time.

391
00:23:48,534 --> 00:23:51,054
We're looking at 2,606

392
00:23:51,054 --> 00:23:52,474
transactions in Clark's

393
00:23:52,474 --> 00:23:54,474
teeny weeny mempool.

394
00:23:54,694 --> 00:23:55,954
We have a mempool about space.

395
00:23:56,734 --> 00:23:58,534
We'll see there are 49,735

396
00:23:59,194 --> 00:24:00,794
transactions in their mempool.

397
00:24:02,054 --> 00:24:02,734
Fee is getting

398
00:24:02,734 --> 00:24:04,414
pretty expensive. Two sats per v-byte.

399
00:24:04,494 --> 00:24:05,994
If you want to get into the next block, you better

400
00:24:05,994 --> 00:24:07,734
pay up.

401
00:24:09,194 --> 00:24:10,854
Remember the day of 141

402
00:24:10,854 --> 00:24:12,634
sat per v-byte high priority transaction?

403
00:24:13,954 --> 00:24:14,774
No, it's

404
00:24:14,774 --> 00:24:24,974
hard to remember it feels like so long ago um did china uh ban bitcoin mining there are reports

405
00:24:24,974 --> 00:24:31,114
out of the zhinjiang province block space media reported on earlier this week with a few sources

406
00:24:31,114 --> 00:24:36,054
one of which i do trust kevin jung who's at nakamoto formerly at foundry he sort of confirmed

407
00:24:36,054 --> 00:24:44,134
it's happening apparently in zhinjiang um they're uh putting a moratorium on mining they want to do

408
00:24:44,134 --> 00:24:46,734
some inspection.

409
00:24:47,034 --> 00:24:48,274
I think there's an inspection period

410
00:24:48,274 --> 00:24:49,214
where they have to unplug

411
00:24:49,214 --> 00:24:51,554
and BlockSpace was reporting

412
00:24:51,554 --> 00:24:53,694
that anywhere between 400,000

413
00:24:53,694 --> 00:24:55,894
to 500,000 ASICs

414
00:24:55,894 --> 00:24:58,154
will be unplugged over there

415
00:24:58,154 --> 00:24:59,914
as part of this inspection period.

416
00:25:00,594 --> 00:25:01,874
It seems like many of the miners

417
00:25:01,874 --> 00:25:02,514
there are convinced

418
00:25:02,514 --> 00:25:03,334
they're going to have to move.

419
00:25:03,954 --> 00:25:05,334
For a power draw perspective,

420
00:25:05,394 --> 00:25:06,374
I think the estimate was

421
00:25:06,374 --> 00:25:09,454
1.63 gigawatts worth of power

422
00:25:09,454 --> 00:25:11,434
that the miners are taking up.

423
00:25:12,714 --> 00:25:13,814
That's how much

424
00:25:13,814 --> 00:25:20,354
those many miners take up. So it's a considerable amount, estimated to be about 10% in network

425
00:25:20,354 --> 00:25:26,774
hash rate. It is believed that around 14% of overall network hash rate is still within China's

426
00:25:26,774 --> 00:25:33,394
borders, even post 2021 mining ban. But at the time, the 2021 ban was estimated that there was

427
00:25:33,394 --> 00:25:40,814
anywhere between 40 and 60% of network hash rate. And so I did a little breakdown of this earlier

428
00:25:40,814 --> 00:25:43,014
this week. Different dynamics

429
00:25:43,014 --> 00:25:44,634
at play, if this is true.

430
00:25:44,994 --> 00:25:47,134
I mean, this will be...

431
00:25:47,134 --> 00:25:49,014
If we have this negative difficulty

432
00:25:49,014 --> 00:25:50,754
adjustment on Christmas, that'll be

433
00:25:50,754 --> 00:25:52,374
five out of the last six

434
00:25:52,374 --> 00:25:54,994
difficulty retargets have been...

435
00:25:54,994 --> 00:25:56,874
or difficulty adjustments have been downward

436
00:25:56,874 --> 00:25:58,994
adjustments, which is a pretty

437
00:25:58,994 --> 00:26:01,314
long

438
00:26:01,314 --> 00:26:02,994
streak of downward difficulty adjustments.

439
00:26:03,794 --> 00:26:05,054
Mining, that's barring.

440
00:26:06,074 --> 00:26:06,994
It's here. Ari,

441
00:26:07,134 --> 00:26:08,934
are you ready? I can hear

442
00:26:08,934 --> 00:26:13,834
Ari cracking his knuckles right now, getting ready to write some tweets about the mining

443
00:26:13,834 --> 00:26:14,414
death spiral.

444
00:26:15,234 --> 00:26:19,274
Ari Paul, ladies and gentlemen, he'll be back with the mining death spiral fund.

445
00:26:19,274 --> 00:26:28,034
But if this ban is true, again, compared to 2021, less disruptive to the network.

446
00:26:28,454 --> 00:26:33,794
And I think the exodus dynamics will be different because obviously in 2021, there was a ton

447
00:26:33,794 --> 00:26:34,374
of excess.

448
00:26:34,374 --> 00:26:41,374
electricity capacity here in the united states has a stance today in 2025 due to the ai arms race

449
00:26:41,374 --> 00:26:47,334
uh there's not as much rack space availability for miners here in the united states and so

450
00:26:47,334 --> 00:26:52,334
that hash rate does move i don't think the u.s will benefit as much as it did in 2021

451
00:26:52,334 --> 00:26:54,294
keep you posted though

452
00:26:54,294 --> 00:27:03,194
nice how many times can they ban bitcoin mining i think this is the third time

453
00:27:03,194 --> 00:27:04,454
to at least three.

454
00:27:05,174 --> 00:27:07,214
If you have looser requirements,

455
00:27:07,334 --> 00:27:08,414
it's been more than that.

456
00:27:09,434 --> 00:27:09,594
Yeah.

457
00:27:10,934 --> 00:27:12,214
There was a couple of years there

458
00:27:12,214 --> 00:27:13,834
where it was like twice a year it was announced.

459
00:27:14,934 --> 00:27:15,154
Yeah.

460
00:27:16,614 --> 00:27:18,194
Yeah, there are some people saying that

461
00:27:18,194 --> 00:27:19,834
they're doing it because

462
00:27:19,834 --> 00:27:22,654
Bitcoin mining is taking up way too much energy

463
00:27:22,654 --> 00:27:24,674
in China and it's just completely absurd.

464
00:27:24,674 --> 00:27:27,094
I think China, like in the last year,

465
00:27:27,154 --> 00:27:29,854
has added like a terawatt of electricity capacity.

466
00:27:30,554 --> 00:27:31,894
They add way more power than us.

467
00:27:31,894 --> 00:27:34,054
So they're like kicking our fucking ass in that regard.

468
00:27:35,274 --> 00:27:38,694
The real reason if they are banning Bitcoin mining

469
00:27:38,694 --> 00:27:54,708
is because they don like that it enables capital control evasion which is what Bitcoin does You can mine Bitcoin and then do whatever you want with it When I think of Bitcoin mining in China it like I always think of Jeff Goldblum from Jurassic Park

470
00:27:55,288 --> 00:27:56,668
You know where I'm going with it?

471
00:27:56,868 --> 00:27:57,828
Life finds a way.

472
00:27:58,308 --> 00:27:59,548
Life finds a way, yeah.

473
00:28:00,368 --> 00:28:00,608
Yeah.

474
00:28:01,408 --> 00:28:02,548
Life does find a way.

475
00:28:02,788 --> 00:28:03,588
Miners find a way.

476
00:28:04,768 --> 00:28:05,408
All right.

477
00:28:05,528 --> 00:28:06,728
On to the list.

478
00:28:07,688 --> 00:28:09,148
Free Samurai, first on the list.

479
00:28:09,148 --> 00:28:12,308
billandkeone.org.

480
00:28:13,588 --> 00:28:16,608
Keone is set to report to prison tomorrow morning.

481
00:28:18,388 --> 00:28:23,808
And the petition currently has 8,352 signatures,

482
00:28:24,108 --> 00:28:26,868
higher than it was last week when we checked on it,

483
00:28:26,928 --> 00:28:27,828
but not high enough.

484
00:28:27,888 --> 00:28:28,808
We need to pump those numbers.

485
00:28:30,208 --> 00:28:33,448
Keone, again, scheduled to report tomorrow morning.

486
00:28:34,008 --> 00:28:35,868
Bill, as of right now,

487
00:28:35,868 --> 00:28:40,168
I think it was just scheduled to report January 3rd.

488
00:28:41,508 --> 00:28:46,868
And I think since last week, it was this week that Trump commented on it, right?

489
00:28:47,808 --> 00:28:48,788
Yeah, Monday night.

490
00:28:49,608 --> 00:28:50,488
Great to see.

491
00:28:51,308 --> 00:28:51,488
Yeah.

492
00:28:52,168 --> 00:28:56,868
And shout out to the Decrypt reporter who was in the press pit

493
00:28:56,868 --> 00:29:03,148
and used his very short allotted time to ask a question to focus on that question.

494
00:29:03,888 --> 00:29:04,468
Shout out to him.

495
00:29:04,468 --> 00:29:06,548
silent here. Actually, not silent.

496
00:29:06,668 --> 00:29:07,928
He was very vocal.

497
00:29:08,268 --> 00:29:09,248
He's quite loud.

498
00:29:11,248 --> 00:29:12,568
I'm cautiously optimistic

499
00:29:12,568 --> 00:29:14,428
here. It seems like

500
00:29:14,428 --> 00:29:16,468
there's really strong support and really

501
00:29:16,468 --> 00:29:18,488
strong momentum. Shout out to all the freaks who've shared

502
00:29:18,488 --> 00:29:20,588
this with friends and family who signed it themselves.

503
00:29:24,288 --> 00:29:26,088
It's good to see. I saw

504
00:29:26,088 --> 00:29:28,708
Ross Ulbricht came out in support.

505
00:29:31,628 --> 00:29:32,508
Senator Lummis

506
00:29:32,508 --> 00:29:33,888
has been very loud about it.

507
00:29:34,468 --> 00:29:44,648
uh rep warren davidson came out in support good to see yeah it's great to see i'm cautiously

508
00:29:44,648 --> 00:29:53,048
optimistic too who knows i think at this point less than 24 hours um from when bill is or excuse

509
00:29:53,048 --> 00:30:00,528
me when kioni is supposed to report uh he may definitely be reporting unless there's some

510
00:30:00,528 --> 00:30:10,228
midnight did you see the poly market it's at 53 pulled up logan by 2027 yeah so it's one year

511
00:30:10,228 --> 00:30:19,848
right yeah i'm freaks if you really if you want to see bill and key on free the play here is is to

512
00:30:19,848 --> 00:30:26,348
vote no on that poly market you got to ham the no button so that trump has can bet yes and do the

513
00:30:26,348 --> 00:30:31,708
part in that's that's how that's how you you financially incentivize the reality you want to

514
00:30:31,708 --> 00:30:44,548
see vote no vote no on polymarket go do it now go do it now um talked to karen earlier this week too

515
00:30:44,548 --> 00:30:51,328
and i seems to be in good spirits it was cool it was nice to see him uh take the day off yesterday

516
00:30:51,328 --> 00:30:52,688
spend time with his family.

517
00:30:52,868 --> 00:30:56,308
It looks like they had a wonderful early Christmas dinner.

518
00:30:57,268 --> 00:31:00,668
But I think one of the things that will be imperative,

519
00:31:00,928 --> 00:31:02,448
not only for us, but everybody else listening,

520
00:31:02,728 --> 00:31:05,568
is if they do report to prison and we have to wait

521
00:31:05,568 --> 00:31:09,548
a certain amount of time for a pardon,

522
00:31:09,908 --> 00:31:13,248
we can't just stop the campaign.

523
00:31:13,348 --> 00:31:14,348
Obviously, we've been talking about it.

524
00:31:14,348 --> 00:31:15,268
No, we got to keep going.

525
00:31:15,788 --> 00:31:16,648
We got to keep going.

526
00:31:17,468 --> 00:31:20,008
Wait, can you pull up that polymarket again?

527
00:31:20,008 --> 00:31:22,428
what a timeline we live in

528
00:31:22,428 --> 00:31:24,208
this is just a pardon poly market

529
00:31:24,208 --> 00:31:25,648
of like all the names

530
00:31:25,648 --> 00:31:28,308
can you scroll down how many people

531
00:31:28,308 --> 00:31:29,148
are on the list

532
00:31:29,148 --> 00:31:31,688
why does Matt Gaetz need a pardon

533
00:31:31,688 --> 00:31:34,868
48%

534
00:31:34,868 --> 00:31:36,048
Elon

535
00:31:36,048 --> 00:31:37,568
wasn't he doing

536
00:31:37,568 --> 00:31:40,568
got corruption charges against him or something

537
00:31:40,568 --> 00:31:42,208
wasn't he being censored by the house

538
00:31:42,208 --> 00:31:43,588
or something like that

539
00:31:43,588 --> 00:31:46,348
himself is at 12%

540
00:31:46,348 --> 00:31:48,308
Trump pardoning himself

541
00:31:48,308 --> 00:31:49,328
is at 12%

542
00:31:50,008 --> 00:31:59,528
who's dr kwan is that it's uh to tara luna but see his supporters know what's up they're voting no

543
00:31:59,528 --> 00:32:04,408
to incentivize the outcome they want to see they even get sentenced in the united states i thought

544
00:32:04,408 --> 00:32:08,568
it was in south korea it's supposedly my understanding it's like half half like

545
00:32:08,568 --> 00:32:16,808
he's doing half his time in america and half his time in south korea yeah what is sbf at

546
00:32:20,008 --> 00:32:21,688
21%.

547
00:32:21,688 --> 00:32:24,428
Pretty crazy.

548
00:32:25,028 --> 00:32:27,108
Doquan famously stuck a treasure up his butt.

549
00:32:27,108 --> 00:32:28,648
Trying to evade.

550
00:32:29,308 --> 00:32:30,408
Trying to evade.

551
00:32:31,688 --> 00:32:33,628
He let his memes be dreams.

552
00:32:34,148 --> 00:32:34,448
Yeah.

553
00:32:35,068 --> 00:32:37,428
I think that was verified.

554
00:32:38,588 --> 00:32:40,388
Yeah, I don't know if that was real at all.

555
00:32:41,048 --> 00:32:42,348
I mean, hopefully it wasn't real.

556
00:32:43,108 --> 00:32:47,288
There's a lot better ways to try and smuggle Bitcoin.

557
00:32:48,088 --> 00:32:49,988
The whole point of Bitcoin is that you don't have

558
00:32:50,008 --> 00:32:56,008
stick something up your butt yeah you can just write some words be aware of freaks yeah um but

559
00:32:56,008 --> 00:33:02,488
if you want to the open dime the open dime was made specifically for for butt stuffing i i see uh

560
00:33:04,008 --> 00:33:11,048
uh senior gringo poppy 2059 and youtube asking sub dorks when 200k i was actually just talking

561
00:33:11,048 --> 00:33:19,768
to gigi about this today um i think it was like 200k by conference it was 2021 i'm pretty sure

562
00:33:20,008 --> 00:33:21,888
It was like almost five years ago.

563
00:33:24,368 --> 00:33:25,488
It was spring.

564
00:33:25,608 --> 00:33:27,188
I think it was spring 2021.

565
00:33:29,488 --> 00:33:31,068
God, I mean.

566
00:33:31,588 --> 00:33:32,008
Oh, yeah.

567
00:33:32,168 --> 00:33:33,028
It was a size B.

568
00:33:33,628 --> 00:33:35,068
We were all going to meet in Miami.

569
00:33:35,308 --> 00:33:37,188
It was like the first conference post COVID.

570
00:33:38,628 --> 00:33:40,508
Wall Street bets was popping off.

571
00:33:40,588 --> 00:33:41,968
We were printing trillions of dollars.

572
00:33:42,308 --> 00:33:43,048
Corn was screaming.

573
00:33:43,728 --> 00:33:46,148
You think we're ever going to hit 200K?

574
00:33:47,128 --> 00:33:48,408
Maybe we're in purgatory.

575
00:33:48,668 --> 00:33:49,508
Maybe this is our life.

576
00:33:50,008 --> 00:33:53,308
We just sit here and we talk like, yeah, it's going to happen.

577
00:33:53,708 --> 00:33:54,648
It's going to happen.

578
00:33:55,828 --> 00:33:58,668
Maybe we already died and we're just sitting in purgatory.

579
00:33:58,888 --> 00:34:01,068
It feels so far away now.

580
00:34:05,408 --> 00:34:06,948
We need a Christmas miracle.

581
00:34:08,448 --> 00:34:11,008
$444,444 by Christmas.

582
00:34:11,148 --> 00:34:11,708
It's going to happen.

583
00:34:12,048 --> 00:34:12,248
Okay.

584
00:34:12,368 --> 00:34:13,428
Everybody go smash by.

585
00:34:13,848 --> 00:34:14,188
Kidding.

586
00:34:15,868 --> 00:34:17,608
Don't fret, freaks.

587
00:34:18,928 --> 00:34:19,808
Don't fret.

588
00:34:20,008 --> 00:34:21,848
stay humble stack sats

589
00:34:21,848 --> 00:34:23,588
uh

590
00:34:23,588 --> 00:34:29,688
vague with the

591
00:34:29,688 --> 00:34:31,908
i mean vague it's his second one so he's

592
00:34:31,908 --> 00:34:33,808
adding to his 21 000 total read

593
00:34:33,808 --> 00:34:36,008
10 000 sats watch andor marty by far

594
00:34:36,008 --> 00:34:37,468
the best disney star wars stuff

595
00:34:37,468 --> 00:34:39,688
we'll take a look uh why

596
00:34:39,688 --> 00:34:40,268
is that new

597
00:34:40,268 --> 00:34:43,828
i don't know 21 000

598
00:34:43,828 --> 00:34:45,628
thanks boys why citadel

599
00:34:45,628 --> 00:34:47,988
uh 21 000 thanks for the shout out

600
00:34:47,988 --> 00:34:49,068
thanks for the sats brother

601
00:34:49,068 --> 00:34:50,708
Ben Justman

602
00:34:50,708 --> 00:34:52,468
22,222

603
00:34:52,468 --> 00:34:54,188
SATs 2s across the board

604
00:34:54,188 --> 00:34:54,728
Poundrum

605
00:34:54,728 --> 00:34:55,288
Zap

606
00:34:55,288 --> 00:34:56,908
Came for the clickbait title

607
00:34:56,908 --> 00:34:58,168
Staying for the super cycle

608
00:34:58,168 --> 00:35:00,188
Ben

609
00:35:00,188 --> 00:35:00,688
You just heard

610
00:35:00,688 --> 00:35:00,948
Oh Ben

611
00:35:00,948 --> 00:35:01,428
Purgatory

612
00:35:01,428 --> 00:35:02,968
I mean that means

613
00:35:02,968 --> 00:35:03,708
Ben saw

614
00:35:03,708 --> 00:35:04,908
The title on

615
00:35:04,908 --> 00:35:05,908
On X

616
00:35:05,908 --> 00:35:07,068
Not on Noster

617
00:35:07,068 --> 00:35:08,668
Somebody with

618
00:35:08,668 --> 00:35:10,408
Somebody with a Noster only show

619
00:35:10,408 --> 00:35:11,428
Coming to us

620
00:35:11,428 --> 00:35:11,688
Via

621
00:35:11,688 --> 00:35:13,348
The X

622
00:35:13,348 --> 00:35:14,088
Very interesting

623
00:35:14,088 --> 00:35:14,888
Very

624
00:35:14,888 --> 00:35:15,908
Very interesting

625
00:35:15,908 --> 00:35:25,508
okay moving on the list jade vulnerability was announced this week pretty serious uh

626
00:35:25,508 --> 00:35:32,448
everybody is being advised to upgrade their jade uh immediately this seems pretty bad

627
00:35:32,448 --> 00:35:42,608
yeah so should we read through it i mean it's a long post basically i specifically uh my my read

628
00:35:42,608 --> 00:35:46,368
on the situation is there's three ways to use Jade.

629
00:35:46,368 --> 00:35:49,748
First of all, this applies to both the original Jade and the Jade Plus.

630
00:35:51,408 --> 00:35:53,008
There's three ways to use Jade.

631
00:35:53,008 --> 00:35:57,008
You can use it via USB, via Bluetooth or via QR code.

632
00:35:59,548 --> 00:36:05,168
This is specifically applies if you use Bluetooth or USB cable,

633
00:36:05,168 --> 00:36:08,448
which I think is what the majority of people use it with on,

634
00:36:09,608 --> 00:36:12,208
especially for the first Jade, because the first Jade has troubles

635
00:36:12,608 --> 00:36:13,568
using QR codes.

636
00:36:13,568 --> 00:36:17,728
It's like technically works, but between the screen and the camera,

637
00:36:17,728 --> 00:36:19,808
it's like kind of a pain in the ass.

638
00:36:19,808 --> 00:36:22,328
And I think specifically, you'd have to use a malicious app.

639
00:36:22,328 --> 00:36:25,988
So if we assume Blockstream wasn't attacking people,

640
00:36:25,988 --> 00:36:31,928
then it means you weren't using the official Blockstream green app.

641
00:36:31,928 --> 00:36:36,548
And my read of the situation is that in a worst case scenario,

642
00:36:36,548 --> 00:36:38,288
they could actually extract your seed.

643
00:36:38,288 --> 00:36:41,168
An attacker could remotely extract your seed.

644
00:36:41,168 --> 00:36:46,088
basically like worst case scenario when it comes to hardware wallets through this attack vector.

645
00:36:46,528 --> 00:36:48,688
It was responsibly disclosed to them.

646
00:36:49,608 --> 00:36:50,848
They patched it.

647
00:36:51,488 --> 00:36:53,608
It's been patched for a few updates now.

648
00:36:54,268 --> 00:36:58,788
And then this is them publicly mentioning it and saying, if you haven't updated yet, update.

649
00:37:01,068 --> 00:37:03,908
I know everyone's a little bit religious about their hardware wallets.

650
00:37:05,068 --> 00:37:10,168
I had a relatively benign announcement on Nostar saying,

651
00:37:10,168 --> 00:37:12,988
seems like a pretty bad vulnerability for Jade.

652
00:37:13,788 --> 00:37:15,688
So people would update their fucking wallets.

653
00:37:15,808 --> 00:37:18,408
Some people were like, no, you're blowing it out of proportion, blah, blah, blah.

654
00:37:18,928 --> 00:37:19,868
I just want to be clear here.

655
00:37:19,968 --> 00:37:23,408
Adam back is all over Twitter in all caps telling people to update their app.

656
00:37:23,408 --> 00:37:26,088
So take it from the man himself.

657
00:37:27,608 --> 00:37:29,008
Consider taking it seriously.

658
00:37:31,088 --> 00:37:34,768
But if you haven't gotten rugged yet, you're probably good.

659
00:37:35,208 --> 00:37:36,388
I don't think they know any.

660
00:37:36,388 --> 00:37:38,508
I don't think they have any cases

661
00:37:38,508 --> 00:37:40,888
where they've been able to show that

662
00:37:40,888 --> 00:37:42,568
it's actually been used

663
00:37:42,568 --> 00:37:44,428
I don't I see BTC

664
00:37:44,428 --> 00:37:46,388
Wrestle saying doesn't require physical access

665
00:37:46,388 --> 00:37:48,548
I don't think so I think it required a malicious app

666
00:37:48,548 --> 00:37:50,728
yeah it says jade devices

667
00:37:50,728 --> 00:37:52,128
running firmware versions

668
00:37:52,128 --> 00:37:54,128
1.0.24

669
00:37:54,128 --> 00:37:56,348
to 1.0.36

670
00:37:56,348 --> 00:37:58,568
can be crashed by a malformed

671
00:37:58,568 --> 00:37:59,988
RPC request

672
00:37:59,988 --> 00:38:01,328
leading to a device

673
00:38:01,328 --> 00:38:02,128
by the app

674
00:38:02,128 --> 00:38:03,068
yeah

675
00:38:03,068 --> 00:38:06,168
Yeah, so it's not physical address.

676
00:38:06,268 --> 00:38:08,628
You just send an RPC request.

677
00:38:10,928 --> 00:38:12,868
Exploitation analysis, probably important to mention.

678
00:38:13,068 --> 00:38:17,528
We wish to emphasize that we are not aware of this vulnerability being exploited in any malware in the wild.

679
00:38:17,648 --> 00:38:22,748
However, as with any other security-sensitive software, we expect that bad actors monitor our releases,

680
00:38:22,908 --> 00:38:27,008
looking for vulnerabilities and attempting to develop exploits against older software versions.

681
00:38:27,008 --> 00:38:31,668
so no evidence of this being exploited in the wild

682
00:38:31,668 --> 00:38:34,008
but it is a pretty bad one if you have a jade

683
00:38:34,008 --> 00:38:36,528
specifically you have a jade that is

684
00:38:36,528 --> 00:38:41,508
that has a private key on it that's securing

685
00:38:41,508 --> 00:38:45,068
a material amount of bitcoin for you make sure you update that firmware

686
00:38:45,068 --> 00:38:46,548
ASAP

687
00:38:46,548 --> 00:38:48,928
next

688
00:38:48,928 --> 00:38:51,468
go ahead

689
00:38:51,468 --> 00:38:56,988
because of this I realized that the

690
00:38:56,988 --> 00:38:58,448
Jade Plus doesn't have a secure element.

691
00:38:58,768 --> 00:39:00,728
I'm surprised that...

692
00:39:00,728 --> 00:39:03,028
I thought they added one.

693
00:39:03,108 --> 00:39:05,108
I mean, this is like...

694
00:39:05,108 --> 00:39:05,668
They didn't.

695
00:39:06,128 --> 00:39:08,948
This is a perfect example of why secure elements

696
00:39:08,948 --> 00:39:10,048
should be in hardware wallets.

697
00:39:14,468 --> 00:39:17,108
I guess the number one thing they're supposed to protect against

698
00:39:17,108 --> 00:39:20,408
is extracting a private key remotely.

699
00:39:21,568 --> 00:39:21,648
Yeah.

700
00:39:23,948 --> 00:39:24,888
Anyway, update.

701
00:39:24,888 --> 00:39:36,368
update if you if you haven't updated already yeah um be aware freaks also be aware if you're a strike

702
00:39:36,368 --> 00:39:40,088
user in california has been wondering when am i going to get access to these loans everybody's

703
00:39:40,088 --> 00:39:47,408
talking about uh well the wait is over strike massive launches consumer loans in california

704
00:39:47,408 --> 00:39:54,848
what is it the fifth largest economy in the world uh i think it's higher than that

705
00:39:56,528 --> 00:40:01,088
third let me ask maple california's population is 40 million people

706
00:40:05,088 --> 00:40:09,888
how big some population's gdp for new economy

707
00:40:09,888 --> 00:40:21,408
uh 4.1 trillion in 2024 making it the largest state economy in the u.s and the fourth or fifth

708
00:40:21,408 --> 00:40:28,768
largest economy globally trailing only the united states china germany and sometimes india depending

709
00:40:28,768 --> 00:40:34,688
on how india's feeling i guess that was pretty good i said fifth fourth or fifth i'll take it

710
00:40:34,688 --> 00:40:43,628
that's good anyway uh this this this uh if you're in california you've been looking for a strike loan

711
00:40:43,628 --> 00:40:50,348
please borrow responsibly uh it should be a very small percent of your stack

712
00:40:50,348 --> 00:40:56,568
um but yep it's live now you can just update your app and a couple clicks have dollars in

713
00:40:56,568 --> 00:41:04,048
your bank account pretty sweet pretty sweet californians rejoice also i realized um

714
00:41:04,048 --> 00:41:06,368
last week we didn't mention that

715
00:41:06,368 --> 00:41:07,848
Jack went public

716
00:41:07,848 --> 00:41:10,188
with Tether on XXI last week.

717
00:41:11,868 --> 00:41:12,368
So

718
00:41:12,368 --> 00:41:13,668
huge shout out to him for that.

719
00:41:14,148 --> 00:41:15,348
It's kind of crazy seeing

720
00:41:15,348 --> 00:41:18,368
he's not the first one

721
00:41:18,368 --> 00:41:20,248
and he's not the last to seeing a buddy

722
00:41:20,248 --> 00:41:22,268
on ringing the bell.

723
00:41:23,888 --> 00:41:24,468
It's like

724
00:41:24,468 --> 00:41:25,708
what timeline do we live in?

725
00:41:26,508 --> 00:41:28,368
Right. And I have somebody here saying

726
00:41:28,368 --> 00:41:30,528
can we get some Marty optimism going on?

727
00:41:30,608 --> 00:41:31,788
Things are feeling pretty down.

728
00:41:32,208 --> 00:41:43,342
Matt A Miller Don worry brother here some optimism Anyway the price is down We crabbing We consolidating We went up 8x between November 2022 and July of this year

729
00:41:43,422 --> 00:41:43,682
Guess what?

730
00:41:43,702 --> 00:41:48,322
We're cooling off a little bit, but things are still happening in the background.

731
00:41:48,662 --> 00:41:50,002
XSI went public.

732
00:41:50,402 --> 00:41:52,102
People are getting strike loans in California.

733
00:41:52,922 --> 00:41:55,922
We're staying on top of vulnerabilities and hardware wallets.

734
00:41:56,922 --> 00:41:57,862
People are still working.

735
00:41:58,222 --> 00:42:00,962
We're still working to make this a thing.

736
00:42:01,162 --> 00:42:01,682
It is a thing.

737
00:42:01,802 --> 00:42:02,682
We're trying to make it a bigger thing.

738
00:42:02,682 --> 00:42:08,202
the thing and progress is being made don't uh don't get who's who's who's saying you're not

739
00:42:08,202 --> 00:42:15,642
optimistic enough matt a miller uh did he say it in the comments uh and you know he just said

740
00:42:16,442 --> 00:42:22,602
oh i see but you see his next comment after that need marty to shoot a snot rocket for the smiles

741
00:42:23,402 --> 00:42:29,562
you see he asked for optimism and like you just want me to be a clown is that what you want you

742
00:42:29,562 --> 00:42:30,082
You know what I mean?

743
00:42:30,402 --> 00:42:31,182
Serious analysis.

744
00:42:31,322 --> 00:42:32,702
You want me to snot rocket in front of you?

745
00:42:32,722 --> 00:42:33,302
It's disgusting.

746
00:42:34,242 --> 00:42:35,022
I'm offended.

747
00:42:36,982 --> 00:42:37,802
I'm kidding, Matt.

748
00:42:38,362 --> 00:42:39,522
I don't have snotty bent.

749
00:42:39,882 --> 00:42:41,582
Snotty bent's in the cage this week, I think,

750
00:42:41,622 --> 00:42:43,062
and my sinuses are feeling good.

751
00:42:46,662 --> 00:42:48,622
The trolls are out in full force.

752
00:42:48,742 --> 00:42:49,802
Merry Christmas, freaks.

753
00:42:51,062 --> 00:42:51,942
Love you all.

754
00:42:54,322 --> 00:42:55,582
You got the ripple hat on.

755
00:42:56,222 --> 00:42:57,382
It's not a ripple hat.

756
00:42:57,382 --> 00:43:03,982
and also i see like do you see the comment above that too do you think that's a troll or do you

757
00:43:03,982 --> 00:43:10,502
think he actually believes that that's got to be a troll uh level nine nine slacker he's a long

758
00:43:10,502 --> 00:43:18,302
time freak yeah i think he knows better okay i think he knows better um moving along

759
00:43:18,302 --> 00:43:23,682
fold has become the first public bitcoin financial services company to operate

760
00:43:23,682 --> 00:43:25,622
nationwide through BitGo's federally

761
00:43:25,622 --> 00:43:26,902
chartered trust framework.

762
00:43:27,982 --> 00:43:29,542
I guess there's two stories here. Number one,

763
00:43:29,542 --> 00:43:31,582
the first public Bitcoin

764
00:43:31,582 --> 00:43:33,322
financial services company to do this and

765
00:43:33,322 --> 00:43:35,742
two, that BitGo has a federally

766
00:43:35,742 --> 00:43:37,542
chartered trust framework. I think this

767
00:43:37,542 --> 00:43:39,562
was one of the bigger stories of the week

768
00:43:39,562 --> 00:43:41,362
is the OCC coming out and granting

769
00:43:41,362 --> 00:43:43,262
these federal

770
00:43:43,262 --> 00:43:45,602
chartered trusts to

771
00:43:45,602 --> 00:43:47,642
BitGo and was it Anchorage?

772
00:43:47,722 --> 00:43:49,682
Who else got it? I don't know.

773
00:43:53,682 --> 00:43:58,882
were there multiple there were multiple there was like two or three so they're like basically a bank

774
00:43:58,882 --> 00:44:09,122
right yeah essentially yeah biggo has like a banking charter federally so you don't have to

775
00:44:09,122 --> 00:44:16,962
go state by state yeah yeah and so now it's also available in new york which has like been uh

776
00:44:16,962 --> 00:44:21,882
the white whale of every Bitcoin company because of the bit license.

777
00:44:26,582 --> 00:44:29,222
And there was another, I don't know if you have it on the list,

778
00:44:29,222 --> 00:44:36,242
but the federal reserve came out and rescinded a letter of recommendation that

779
00:44:36,242 --> 00:44:38,042
they wrote in 2023, basically saying, Hey,

780
00:44:38,042 --> 00:44:41,242
we don't want the banks trying to incorporate Bitcoin or other crypto

781
00:44:41,242 --> 00:44:43,562
assets. We're playing with it. It's too risky.

782
00:44:43,842 --> 00:44:46,582
They came out this week and rescinded that basically said, Hey,

783
00:44:46,582 --> 00:44:48,822
we actually want you to be innovative and experimental.

784
00:44:49,282 --> 00:44:52,562
So we're going to rescind that and let you play around with the,

785
00:44:52,902 --> 00:44:54,382
have fun with your crypto, if you will.

786
00:44:54,902 --> 00:44:57,242
Yeah. What did Trump say? Play with your Bitcoins?

787
00:44:57,662 --> 00:44:58,362
Yeah. They're going to let,

788
00:44:58,442 --> 00:45:00,602
they're going to let the banks play with their Bitcoins if they want to.

789
00:45:01,202 --> 00:45:06,902
Point being, it seems like at least in the banking sector and its relation to

790
00:45:06,902 --> 00:45:07,222
Bitcoin,

791
00:45:07,322 --> 00:45:11,622
there has been a number of positive developments in terms of regulation,

792
00:45:11,622 --> 00:45:16,422
regulation becoming looser in terms of what these banks are allowed to do.

793
00:45:16,422 --> 00:45:18,682
which as a free market guy, I love to see.

794
00:45:18,682 --> 00:45:22,402
I'm not saying go put your Bitcoin with your bank,

795
00:45:22,682 --> 00:45:26,162
but I think it's a positive signal overall.

796
00:45:26,822 --> 00:45:27,582
The Bitcoin's wider.

797
00:45:27,942 --> 00:45:28,622
You shouldn't do that.

798
00:45:29,502 --> 00:45:30,542
Yeah. Don't do that.

799
00:45:31,302 --> 00:45:33,762
But there's some people that will.

800
00:45:33,802 --> 00:45:35,942
Yeah. I mean, I saw some chatter that like,

801
00:45:35,942 --> 00:45:41,862
like the big banks are just going to outcompete

802
00:45:41,862 --> 00:45:45,402
all the Bitcoin companies on terms and product offering and stuff.

803
00:45:45,402 --> 00:45:51,582
like I'm I'm fading that call say say I know you're talking about he knows who what you're

804
00:45:51,582 --> 00:45:57,582
talking he went he went on a second tier podcast he went on a second tier podcast I think I forget

805
00:45:57,582 --> 00:46:05,262
what it was called it was like T ABC or something T ABC yeah yeah no I mean that's one theory Ryan

806
00:46:05,262 --> 00:46:15,502
came on tftc and uh and i made the case that hey these banks are they have a low cost of capital

807
00:46:15,502 --> 00:46:20,382
or adding all this infrastructure it's going to be hard for native bitcoin companies that

808
00:46:20,382 --> 00:46:26,622
are private to compete but i think um as he was announcing his his public bitcoin holding company

809
00:46:27,982 --> 00:46:32,302
but um and we've talked about this in the past i think particularly as it pertains to

810
00:46:32,302 --> 00:46:39,982
lending capital in the Bitcoin space is sort of a commodity, whether you're private or public.

811
00:46:39,982 --> 00:46:44,862
Yes, the banks are definitely going to have somewhat of an advantage due to economies of scale, but...

812
00:46:44,862 --> 00:46:47,422
I just don't think that like...

813
00:46:47,422 --> 00:46:48,542
I prefer Bitcoin only services.

814
00:46:49,582 --> 00:46:54,782
Yeah, Bank of America is not going to provide... It's going to be years, if that,

815
00:46:54,782 --> 00:46:59,582
that Bank of America provides like a competitive Bitcoin product to actual Bitcoiners.

816
00:47:00,622 --> 00:47:00,862
Yeah.

817
00:47:00,862 --> 00:47:03,682
Like, have you been in a branch lately?

818
00:47:05,102 --> 00:47:05,682
I've not.

819
00:47:05,862 --> 00:47:06,782
It's like fucking insane.

820
00:47:07,482 --> 00:47:08,662
You know, we'll say like Bank of America.

821
00:47:10,442 --> 00:47:11,782
I don't have to go in the branch.

822
00:47:12,682 --> 00:47:13,942
I haven't had my debit card.

823
00:47:14,062 --> 00:47:15,482
This is probably too much information,

824
00:47:15,622 --> 00:47:18,602
but I haven't seen my Bank of America debit card in like three years.

825
00:47:18,882 --> 00:47:23,122
And so like I'm beholden to the debit card on my Apple Pay.

826
00:47:23,522 --> 00:47:26,702
And thank God their ATMs now have NFC.

827
00:47:26,802 --> 00:47:28,362
Why don't you order a new one?

828
00:47:28,362 --> 00:47:33,182
I guess I didn't feel like re-entering all the information.

829
00:47:34,982 --> 00:47:35,102
Wow.

830
00:47:35,962 --> 00:47:36,182
Yeah.

831
00:47:40,022 --> 00:47:50,442
So shout out to NFC enabled ATMs allowing me to get cash when I needed quite frequently.

832
00:47:51,042 --> 00:47:51,742
All right, moving on.

833
00:47:52,042 --> 00:47:57,682
We've got the Human Rights Foundation Financial Freedom Report Story of the Week coming out of bricks.

834
00:47:58,362 --> 00:48:02,482
stands for Brazil, Russia, India, China, and South Africa,

835
00:48:02,482 --> 00:48:05,282
but there are other countries in the BRICS coalition.

836
00:48:07,222 --> 00:48:08,582
Digital currency launch.

837
00:48:08,722 --> 00:48:11,662
The BRICS monetary block has launched a working prototype

838
00:48:11,662 --> 00:48:13,822
of a digital currency known as the unit.

839
00:48:14,222 --> 00:48:14,402
Wow.

840
00:48:14,662 --> 00:48:15,262
Great name.

841
00:48:15,842 --> 00:48:16,762
Such a good name.

842
00:48:18,602 --> 00:48:20,582
Backed by a basket of precious metals

843
00:48:20,582 --> 00:48:21,962
and BRICS national currencies,

844
00:48:22,242 --> 00:48:25,742
the first hundred units were issued in a pilot led by Russia.

845
00:48:25,742 --> 00:48:27,242
Such a good fucking name.

846
00:48:27,242 --> 00:48:38,042
The BRICS block includes many authoritarian or hybrid authoritarian regimes that use capital control, censorship, and financial surveillance to manage dissent.

847
00:48:38,582 --> 00:48:45,042
A state-designed programmable digital currency rail used across multiple authoritarian states can harden those powers.

848
00:48:45,802 --> 00:48:51,602
For more stories like this, make sure you sign up for the Financial Freedom Report newsletter, which comes out weekly.

849
00:48:52,022 --> 00:48:54,582
Go to financialfreedomreport.org.

850
00:48:55,102 --> 00:48:55,962
What a great name.

851
00:48:55,962 --> 00:48:56,442
Wow.

852
00:48:56,442 --> 00:48:58,442
Stay on the stack units.

853
00:48:58,442 --> 00:49:02,122
It's got a masculine frame to it.

854
00:49:02,122 --> 00:49:03,242
It's just like an absolute unit.

855
00:49:03,242 --> 00:49:05,242
You're not going to use the unit currency.

856
00:49:05,242 --> 00:49:06,922
What are you a pussy?

857
00:49:06,922 --> 00:49:08,922
Oh, you don't accept units?

858
00:49:12,922 --> 00:49:14,522
We're not being facetious either.

859
00:49:14,522 --> 00:49:15,562
It's an incredible branding.

860
00:49:15,562 --> 00:49:17,162
It's a good name.

861
00:49:17,162 --> 00:49:19,162
I mean, it's a shitcoin.

862
00:49:20,202 --> 00:49:22,842
This is something we've been discussing for years.

863
00:49:22,842 --> 00:49:26,362
There's also something that Lionel Shriver

864
00:49:26,442 --> 00:49:28,182
had in her book like a decade ago.

865
00:49:30,402 --> 00:49:33,642
But this is the expected path, I think.

866
00:49:33,642 --> 00:49:39,142
I think the expected path is BRICS countries are going to launch their own

867
00:49:39,142 --> 00:49:45,742
commodity backed shit coined with gold being a key backing there.

868
00:49:48,502 --> 00:49:51,442
And I think this is what markets are seeing as well, which is one of the reasons

869
00:49:51,442 --> 00:49:53,442
why we've seen the run up in gold and silver.

870
00:49:53,442 --> 00:49:56,622
And then they'll realize that that requires too much trust.

871
00:49:56,702 --> 00:50:07,322
Trust will break down and Bitcoin emerges as this beautiful global distributed financial network that doesn't require any trust whatsoever between counterparties.

872
00:50:08,702 --> 00:50:17,802
Because if you think all these countries are going to be able to trust each other and work together at scale, I mean, I have a colony on Mars to sell you.

873
00:50:18,202 --> 00:50:23,202
They might have just, what's the phrase I'm looking for?

874
00:50:23,442 --> 00:50:30,502
they um they said are tied they tied their wagon to destiny like it just by the branding alone

875
00:50:30,502 --> 00:50:37,102
somebody's going to want to control the unit it's like no i'm i'm well it's being led by russia

876
00:50:37,102 --> 00:50:44,102
case in point yeah you think china's going to come in and be like you know what actually

877
00:50:44,102 --> 00:50:50,542
russia we're the uh we're the world's factory we've got all this energy infrastructure we're uh

878
00:50:50,542 --> 00:50:54,222
stealing the IP of every country in the world.

879
00:50:54,362 --> 00:50:56,762
We're actually more of a unit than you are.

880
00:50:56,862 --> 00:50:58,822
So we're going to take control of the system.

881
00:51:00,822 --> 00:51:02,902
Some squabbling, some intracrabile squabbling

882
00:51:02,902 --> 00:51:05,882
on the horizon for the BRICS block.

883
00:51:06,002 --> 00:51:06,462
I can see it.

884
00:51:06,802 --> 00:51:07,382
No, but to your point.

885
00:51:07,622 --> 00:51:09,202
Mandible is the Bitcoin standard.

886
00:51:09,962 --> 00:51:10,262
Yes.

887
00:51:10,762 --> 00:51:11,562
And why Bitcoin standard?

888
00:51:11,682 --> 00:51:14,942
Because Bitcoin is a distributed peer-to-peer caches

889
00:51:14,942 --> 00:51:17,122
and none of these countries can control.

890
00:51:18,382 --> 00:51:19,022
A political event.

891
00:51:19,022 --> 00:51:21,902
I feel like we've been way ahead on the quantum FUD.

892
00:51:24,262 --> 00:51:26,362
I mean, 1031, even in January,

893
00:51:26,522 --> 00:51:28,622
released a blog post about quantum

894
00:51:28,622 --> 00:51:30,682
and how people shouldn't be concerned about it.

895
00:51:31,762 --> 00:51:34,262
Did you see the sailor tweet about quantum?

896
00:51:35,602 --> 00:51:35,922
Yeah.

897
00:51:37,322 --> 00:51:39,142
Should we be reading too much into it

898
00:51:39,142 --> 00:51:40,422
or was that just AI slop

899
00:51:40,422 --> 00:51:41,962
and he just wasn't actually thinking

900
00:51:41,962 --> 00:51:43,342
when he pressed post?

901
00:51:44,142 --> 00:51:44,502
No, no, no.

902
00:51:44,502 --> 00:51:45,162
Look, pull it up.

903
00:51:45,222 --> 00:51:45,802
You'll find it.

904
00:51:45,982 --> 00:51:47,722
Did he just like ask chat GPT,

905
00:51:47,722 --> 00:51:52,122
like should i be worried about quantum and like chat gpt respond to that and then you just press

906
00:51:52,122 --> 00:51:59,722
send tweet yeah or does he actually he's got a string he's a bitcoin he's effectively advocating

907
00:51:59,722 --> 00:52:08,282
to freeze satoshi coin um pulled up logan we'll talk about i mean it's we went from

908
00:52:10,042 --> 00:52:14,122
op return to quantum i'm i'm becoming more convinced that there is some uh

909
00:52:14,122 --> 00:52:16,342
provocateurs

910
00:52:16,342 --> 00:52:17,702
in the social layer

911
00:52:17,702 --> 00:52:19,942
just trying to get us confused and talking about

912
00:52:19,942 --> 00:52:22,082
dumb shit, Quantum being one of them.

913
00:52:22,402 --> 00:52:23,822
I mean, I think this is

914
00:52:23,822 --> 00:52:25,322
completely different parties.

915
00:52:28,102 --> 00:52:28,262
Yeah.

916
00:52:30,182 --> 00:52:30,882
Could be.

917
00:52:31,602 --> 00:52:32,622
Are you finding it, Logan?

918
00:52:32,982 --> 00:52:35,122
I'm looking for it.

919
00:52:36,642 --> 00:52:37,462
Just search

920
00:52:37,462 --> 00:52:38,762
It was like yesterday.

921
00:52:39,402 --> 00:52:40,482
Do you know how to search Twitter?

922
00:52:41,602 --> 00:52:43,282
He doesn't post that much.

923
00:52:43,282 --> 00:52:45,662
I'm logged out on this computer now.

924
00:52:46,822 --> 00:52:50,282
And of course you can't search on Twitter if you're not logged in.

925
00:52:54,362 --> 00:52:54,802
Queen,

926
00:52:54,922 --> 00:52:55,702
are you pulling it up?

927
00:52:56,082 --> 00:52:56,582
Don't worry.

928
00:52:57,002 --> 00:52:57,282
Queen,

929
00:52:57,462 --> 00:52:58,102
Queen is Logan.

930
00:52:58,502 --> 00:52:59,302
Number one fan.

931
00:53:01,462 --> 00:53:02,902
Is Queen defending him?

932
00:53:03,622 --> 00:53:03,982
Yes.

933
00:53:04,302 --> 00:53:04,562
He might,

934
00:53:04,602 --> 00:53:06,202
he might quit on our ass according to her.

935
00:53:07,922 --> 00:53:09,442
Right before we went live today,

936
00:53:09,462 --> 00:53:11,102
we asked Logan what he actually does here.

937
00:53:13,282 --> 00:53:19,642
what is it what does he do here actually can you find a new twitter account so that i can search on

938
00:53:19,642 --> 00:53:25,922
twitter martin can you find the tweet i'll find you're looking i'm not looking i'm being lazy you

939
00:53:25,922 --> 00:53:30,242
know what accountability lead from the front i should be searching i mean it was clearly ai

940
00:53:30,242 --> 00:53:37,822
generated because it had the m dash and also it was like the classic quantum won't do this it will

941
00:53:37,822 --> 00:53:44,222
do the exact opposite, which is a massive LLM trope.

942
00:53:44,222 --> 00:53:48,482
The Bitcoin quantum leap, quantum computing won't break Bitcoin.

943
00:53:48,482 --> 00:53:49,482
It will harden it.

944
00:53:49,642 --> 00:53:53,122
The network upgrades, active coins migrate, lost coins stay frozen.

945
00:53:53,642 --> 00:53:57,462
Security goes up, supply comes down, Bitcoin grows stronger.

946
00:53:58,462 --> 00:53:58,582
Yeah.

947
00:53:58,682 --> 00:54:03,682
So did he just ask Chad GPT, like, should I be concerned about quantum and Bitcoin?

948
00:54:03,942 --> 00:54:06,082
And then this was the response and he just pressed untweet.

949
00:54:06,082 --> 00:54:13,582
i don't know i wasn't there i can't say because i think i think that's the generous interpretation

950
00:54:13,582 --> 00:54:20,422
and the opposite of the generous interpretation is that he is using his platform to advocate for

951
00:54:20,422 --> 00:54:26,982
freezing satoshi's bitcoin well let's talk which would be yeah go on no let's run through that i

952
00:54:26,982 --> 00:54:30,562
mean i know we touched on it last week but like i went like and i think you i was actually thinking

953
00:54:30,562 --> 00:54:36,082
of you today because i was like i need to think more like odell because the way you frame it when

954
00:54:36,082 --> 00:54:43,842
you think about these attack vectors and in um not my defense like i i was like we're not in a rush

955
00:54:43,842 --> 00:54:47,682
because quantum computing isn't here and then you were immediately like adversarial thinking

956
00:54:48,242 --> 00:54:53,762
like what would let's say everybody thinks we need to transition to quantum when we do what are the

957
00:54:53,762 --> 00:54:59,522
risks on the other side and you lay that out pretty good so let's let's hear that for the

958
00:54:59,522 --> 00:55:03,522
freaks that happen already well no i mean so there's two different things right we talked

959
00:55:03,522 --> 00:55:09,442
about it last week but there's there's two different things first of all um i'm not sold

960
00:55:09,442 --> 00:55:13,602
that quantum's a real risk right i think there's a lot of hype there we talked about that last week

961
00:55:14,322 --> 00:55:20,482
so we're we're purely in the theoretical realm right now right but the the general premise is

962
00:55:20,482 --> 00:55:26,162
that it would break public key cryptography and how does it do that high level you can take a

963
00:55:26,162 --> 00:55:30,662
a public key and you can reverse engineer it to get the private key. You spend

964
00:55:30,696 --> 00:55:33,516
energy, you spend compute, you spend time and you're able to get the private key.

965
00:55:34,176 --> 00:55:40,996
Bitcoin and modern encryption and hashing algorithms rely on you not being able to get

966
00:55:40,996 --> 00:55:42,136
the opposite side, right?

967
00:55:42,896 --> 00:55:49,036
You have this public information that you're able to verify things with, but you're not

968
00:55:49,036 --> 00:55:50,996
actually able to sign without the private information.

969
00:55:51,936 --> 00:55:53,876
Now with Bitcoin, you have two different aspects.

970
00:55:54,016 --> 00:55:55,836
You have the addresses, the public addresses.

971
00:55:55,836 --> 00:56:04,076
you have early the early address types that were not hashed so they didn't have an extra level of

972
00:56:04,076 --> 00:56:11,976
basically protection on them and those could be potentially or theoretically brute force at rest

973
00:56:11,976 --> 00:56:16,356
right you have like infinite time to do them satoshi's coins being the largest example but

974
00:56:16,356 --> 00:56:22,556
basically any old addresses that are unmoved but then also when you spend from a modern address

975
00:56:22,556 --> 00:56:24,216
from a SegWit address.

976
00:56:25,336 --> 00:56:27,756
And that also applies to taproot addresses, by the way,

977
00:56:27,776 --> 00:56:28,796
which is the most modern address.

978
00:56:28,856 --> 00:56:30,236
But if you send from a SegWit address,

979
00:56:30,296 --> 00:56:31,156
which is in between,

980
00:56:31,976 --> 00:56:34,736
at the time it hits the mempool,

981
00:56:34,856 --> 00:56:36,856
there's like a race that if, you know,

982
00:56:36,896 --> 00:56:40,036
if it's a sufficiently powerful quantum computer

983
00:56:40,036 --> 00:56:41,216
could then try and do it.

984
00:56:41,316 --> 00:56:43,176
So I think that middle aspect,

985
00:56:43,176 --> 00:56:45,136
I think it's relatively safe to assume

986
00:56:45,136 --> 00:56:47,596
is basically safe because

987
00:56:47,596 --> 00:56:54,256
everything at rest would be theoretically attacked way before

988
00:56:54,256 --> 00:57:03,476
quantum computers are sufficiently capable of attacking on the fly.

989
00:57:04,996 --> 00:57:09,716
So that's the technical argument, right? So the technical argument is we should have address types

990
00:57:09,716 --> 00:57:15,096
that are even more quantum secure, quantum resistant from that kind of reverse engineering

991
00:57:16,056 --> 00:57:20,216
than the modern day SegWit addresses that are hashed and so have that protection.

992
00:57:21,336 --> 00:57:26,376
But then there's also the other piece of it, which is people scared that old coins will get dumped

993
00:57:26,376 --> 00:57:34,696
on the market. And so then there's different proposals about freezing old coins or adding

994
00:57:34,696 --> 00:57:41,176
some kind of rate limit. So only old addresses can only spend so much per block, so it would slow it

995
00:57:41,176 --> 00:57:47,996
down. And it's just like, it's like this weird fetish, fetish, I don't even know how you pronounce

996
00:57:47,996 --> 00:57:56,616
it about like controlling other people's money. Like this is, it's, and like an obsession with

997
00:57:56,616 --> 00:58:02,356
the price of Bitcoin, which I don't pretend I'm not obsessed with. But like, if you break the

998
00:58:02,356 --> 00:58:09,276
fundamental, like societal contract we have in Bitcoin of property rights, of like just unlimited

999
00:58:09,276 --> 00:58:18,136
property rights, then like what is Bitcoin? Like Bitcoin is not valuable at all in that situation.

1000
00:58:18,516 --> 00:58:22,376
And I think it's particularly crazy because it is theoretical.

1001
00:58:24,716 --> 00:58:31,576
Don't read the comments, Matt. Because it's theoretical, what people are advocating,

1002
00:58:32,036 --> 00:58:37,176
like whether, so this is why, like, I hope that Saylor wasn't intentionally advocating for this.

1003
00:58:37,176 --> 00:58:41,916
And like I said, he might not be, but there are people in the space intentionally advocating for this, freezing the old coin.

1004
00:58:42,576 --> 00:58:44,376
You would have to do this preemptively.

1005
00:58:45,236 --> 00:58:47,616
Like by design, you would have to do this preemptively.

1006
00:58:47,896 --> 00:58:51,016
And you could call it a soft fork, but it's effectively a hard fork.

1007
00:58:51,256 --> 00:58:54,956
Because if anyone wants to spend the old coin, then we would have a chain split.

1008
00:58:56,616 --> 00:59:01,376
So maybe you can argue semantics that it's a soft fork, but effectively what you're saying is,

1009
00:59:01,376 --> 00:59:07,276
we are so scared of this theoretical risk that we're going to preemptively block coins from being

1010
00:59:07,276 --> 00:59:14,756
spent with a hard fork, which I think is just a complete non-starter. It's absolutely insane.

1011
00:59:14,756 --> 00:59:23,356
I don't think there's support for it in the community, but there shouldn't be. It's absolutely

1012
00:59:23,356 --> 00:59:30,336
ridiculous. And so let's just run through a scenario. If Satoshi woke up tomorrow and was

1013
00:59:30,336 --> 00:59:34,576
like, wow, Jameson Lopp and sailor or advocate, which by the

1014
00:59:34,576 --> 00:59:37,056
way, we're on opposite sides of the opportunity stuff, are

1015
00:59:37,056 --> 00:59:40,776
advocating for freezing coin, freezing my coin, I'm gonna spend

1016
00:59:40,776 --> 00:59:46,736
it today. Would we know if he spent it or was quantum to

1017
00:59:46,736 --> 00:59:52,736
quantum spend it? Like, how do you even all the OGs, quote,

1018
00:59:52,736 --> 00:59:55,536
unquote, OG selling right now is are they selling or is it

1019
00:59:55,536 --> 00:59:58,356
quantum? And like, when do you when do you make that? When do

1020
00:59:58,356 --> 01:00:04,196
make that distinction on on whether or not the old keys are broken versus people just actually

1021
01:00:04,196 --> 01:00:09,636
spending and when do you just realize you just got to sack up and if old coins are sold on the

1022
01:00:09,636 --> 01:00:15,476
market then we'll have some you know downturn in market dynamics for a bit until bitcoin recovers

1023
01:00:16,356 --> 01:00:18,996
and it'll be fine we'll just move along yeah

1024
01:00:21,316 --> 01:00:28,196
no i think this is very well articulated i think i mean and apparently some of the people really

1025
01:00:28,196 --> 01:00:29,816
pushing the quantum narrative right now.

1026
01:00:30,236 --> 01:00:32,476
Some of them run quantum related funds.

1027
01:00:33,056 --> 01:00:34,816
They all run quantum related shit.

1028
01:00:35,516 --> 01:00:35,696
Yeah.

1029
01:00:35,736 --> 01:00:37,196
Like they're all incentivized

1030
01:00:37,196 --> 01:00:38,896
to continue the hype cycle.

1031
01:00:39,896 --> 01:00:40,996
And like to point on

1032
01:00:40,996 --> 01:00:42,976
the theoretical aspect of it,

1033
01:00:43,016 --> 01:00:45,216
John Arnold included this in our piece,

1034
01:00:45,496 --> 01:00:48,296
in his piece on 1031.xyz.

1035
01:00:48,416 --> 01:00:49,356
You'll find it.

1036
01:00:49,876 --> 01:00:53,616
And he talked to Hunter Beast

1037
01:00:53,616 --> 01:00:55,476
and a couple of others.

1038
01:00:55,616 --> 01:00:57,216
I think Adam Back looked at it

1039
01:00:57,216 --> 01:00:58,636
as well.

1040
01:00:59,716 --> 01:01:01,136
The idea is

1041
01:01:01,136 --> 01:01:02,856
see radical. It is true.

1042
01:01:03,636 --> 01:01:05,216
Google with their willow chip and

1043
01:01:05,216 --> 01:01:07,096
others have created sort of

1044
01:01:07,096 --> 01:01:09,096
quantum states and successfully sent

1045
01:01:09,096 --> 01:01:11,096
bits between the

1046
01:01:11,096 --> 01:01:12,876
two different

1047
01:01:12,876 --> 01:01:15,376
in a quantum fashion.

1048
01:01:16,376 --> 01:01:17,576
That's rudimentary.

1049
01:01:17,776 --> 01:01:19,276
I said this earlier today. It's like

1050
01:01:19,276 --> 01:01:21,036
the stone wheel of quantum

1051
01:01:21,036 --> 01:01:23,296
computers. It's barely

1052
01:01:23,296 --> 01:01:24,736
anything to

1053
01:01:24,736 --> 01:01:31,796
successfully wage an attack that would brute force private keys by reverse engineering the

1054
01:01:31,796 --> 01:01:38,456
private keys via by using public keys you need to basically have quantum computers that not only can

1055
01:01:38,456 --> 01:01:43,616
enter quantum state and send information but they also have to be able to run like computation

1056
01:01:43,616 --> 01:01:49,116
and operating and software on it so like we're not even at the level yet like we're just sending

1057
01:01:49,116 --> 01:01:54,336
binary bits in a quantum fashion the way i understand it not gonna pretend to be an expert

1058
01:01:54,336 --> 01:01:57,156
but I have been reading on this and like,

1059
01:01:57,216 --> 01:02:01,696
if you want to get to a state that you can actually like crack stuff,

1060
01:02:01,696 --> 01:02:04,476
like you need to be able to run computation in a quantum state,

1061
01:02:04,476 --> 01:02:05,016
which is,

1062
01:02:05,196 --> 01:02:08,336
I think orders of magnitude harder than what's being done now.

1063
01:02:08,336 --> 01:02:12,636
And what's being done now is like barely being able to send binary between

1064
01:02:12,636 --> 01:02:13,216
each other.

1065
01:02:13,776 --> 01:02:14,756
And then on top of that,

1066
01:02:14,776 --> 01:02:17,936
it's like how much energy is going to be necessary to do all this.

1067
01:02:18,436 --> 01:02:23,936
It was going to be equivalent to the AI energy consumption that we've seen

1068
01:02:23,936 --> 01:02:28,496
last three years and if so like who's going to be able to acquire all that energy and are they

1069
01:02:28,496 --> 01:02:33,456
going to use that to focus on bitcoin specifically or attack other things well it's interesting you

1070
01:02:33,456 --> 01:02:39,296
mentioned ai right because i think part of it part of the recent level of fear mongering and

1071
01:02:39,296 --> 01:02:44,976
we talked about this last week like the quantum thing is not is not something new like this has

1072
01:02:44,976 --> 01:02:52,016
been discussed at length for quite some time i mean i think um peter woola in 2019

1073
01:02:52,016 --> 01:02:56,816
was questioned on why taproot addresses aren't hashed by default.

1074
01:02:57,936 --> 01:03:01,816
Why is it just, you know, bare pub key and as a result,

1075
01:03:01,956 --> 01:03:04,196
not as quantum resistant as Segwit or whatever.

1076
01:03:04,296 --> 01:03:06,916
He's like, oh, well, if quantum happens, then Bitcoin's fucked anyway.

1077
01:03:08,796 --> 01:03:13,376
But and I will keep reminding people of Vitalik

1078
01:03:13,376 --> 01:03:17,476
and his quantum Bitcoin mining scam that he had before Ethereum,

1079
01:03:17,856 --> 01:03:21,356
which, by the way, all the shit coins are way more exposed to this than us.

1080
01:03:22,016 --> 01:03:28,196
because Bitcoin by default doesn't reuse addresses or Bitcoin wallets by default usually do not reuse addresses.

1081
01:03:30,896 --> 01:03:33,616
But I think part of it is because of the AI hype.

1082
01:03:34,876 --> 01:03:35,036
Right.

1083
01:03:35,136 --> 01:03:42,596
So like everyone and it like goes in line with like the remember like the AI 2027 fear mongering that was happening.

1084
01:03:42,596 --> 01:03:49,236
Like we were going to have AGI like there's going to be super intelligence and they're going to nuke everybody by 2027,

1085
01:03:49,236 --> 01:03:54,756
which is crazy because it means we'd probably nuke everybody before we hit 200k which is just

1086
01:03:54,756 --> 01:04:03,356
just be unfathomable then we get set to hell the nuclear hell so i think part of it is that right

1087
01:04:03,356 --> 01:04:10,896
so like part of the the quote unquote concern is that llms will speed up quantum development which

1088
01:04:10,896 --> 01:04:17,316
to be quite honest has been you know pretty slow and lacked real practical uses or proof

1089
01:04:17,316 --> 01:04:26,516
yeah the idea isn't that what matt pines did like he's working at a ai company focused on um

1090
01:04:26,516 --> 01:04:32,476
aliens right covering new physics you know i think they're looking for aliens

1091
01:04:32,476 --> 01:04:36,336
and maybe you need some

1092
01:04:36,336 --> 01:04:42,596
is it breakthroughs to find maybe new quantum maybe need to be able to wormhole to the other uh

1093
01:04:42,596 --> 01:04:55,556
other galaxies too anyway i i think um i think there's a happy medium here where um

1094
01:04:57,716 --> 01:05:03,556
where we have where we self-work in or maybe we don't even need to self-work in like maybe

1095
01:05:03,556 --> 01:05:08,276
like i it's also above my pay grade but supposedly you might be able to do with taproot as well

1096
01:05:08,276 --> 01:05:16,156
but create some like extra quantum hardened address types and let people optionally use

1097
01:05:16,156 --> 01:05:20,376
them if they want to. It's going to cost you a lot more in fees and you have the choice if you

1098
01:05:20,376 --> 01:05:25,176
want to use it or not. And if you're going to sit there and be worried that other people's Bitcoin

1099
01:05:25,176 --> 01:05:30,796
might get stolen and then sold on the market, just sell all your Bitcoin and you're just in

1100
01:05:30,796 --> 01:05:36,076
the wrong network. Like don't be fucking insane. I mean, that'd be like saying that if someone gets

1101
01:05:36,076 --> 01:05:40,716
hacked. Like if a, if a large, if a whole, if sailor gets hacked,

1102
01:05:40,776 --> 01:05:45,656
we should freeze his Bitcoin because it would cause a price dump.

1103
01:05:46,156 --> 01:05:47,416
Like that'd be insane.

1104
01:05:49,876 --> 01:05:50,356
Right.

1105
01:05:51,976 --> 01:05:55,276
It's fucking insane. If Coinbase gets hacked, we're going to,

1106
01:05:55,316 --> 01:05:57,976
we're going to freeze the Bitcoin so that the Bitcoin price doesn't dump.

1107
01:05:57,976 --> 01:06:01,696
No, don't get, don't get hacked. If you get hacked, you fucked up.

1108
01:06:02,356 --> 01:06:02,816
Hey, we learned,

1109
01:06:02,936 --> 01:06:05,796
we learned by the good people at Slocket and Ethereum that if,

1110
01:06:06,076 --> 01:06:09,516
You get hacked. You just roll back the chain, make everything right.

1111
01:06:10,176 --> 01:06:15,216
You freeze the, uh, you three, you freeze the thief's, uh, coins that they stole.

1112
01:06:15,556 --> 01:06:18,036
You remember when CZ wanted to do that with Bitcoin?

1113
01:06:19,156 --> 01:06:20,396
Yeah. Yeah.

1114
01:06:20,496 --> 01:06:21,936
He sent out like a tweet, like.

1115
01:06:22,456 --> 01:06:23,356
You wanted to reorg like.

1116
01:06:24,796 --> 01:06:26,416
Yeah. For like, not that much money.

1117
01:06:26,996 --> 01:06:29,776
Yeah. It's like $20 million or something.

1118
01:06:31,056 --> 01:06:32,916
And everyone's like, no, fuck you, bro.

1119
01:06:33,656 --> 01:06:34,656
This is not Ethereum.

1120
01:06:34,656 --> 01:06:37,516
because he had

1121
01:06:37,516 --> 01:06:40,336
an air of confidence

1122
01:06:40,336 --> 01:06:41,756
too where he's like yeah we can do this

1123
01:06:41,756 --> 01:06:43,276
we're going to do this right

1124
01:06:43,276 --> 01:06:45,356
people are like no we're good

1125
01:06:45,356 --> 01:06:48,316
alright before we get to

1126
01:06:48,316 --> 01:06:49,276
software updates

1127
01:06:49,276 --> 01:06:50,956
let me pull up fountain

1128
01:06:50,956 --> 01:06:53,676
and read

1129
01:06:53,676 --> 01:06:55,956
the top boost

1130
01:06:55,956 --> 01:06:57,356
from last week's rip

1131
01:06:57,356 --> 01:06:59,636
just rabbit hole recap

1132
01:06:59,636 --> 01:07:01,756
387 the printer is coming

1133
01:07:01,756 --> 01:07:04,436
grr

1134
01:07:04,656 --> 01:07:09,616
ADIQ, 22,222 sats, twos across the board, palindrome boost.

1135
01:07:10,316 --> 01:07:13,636
Gonna fix your thumbnail on a rumble and you chew.

1136
01:07:14,696 --> 01:07:17,936
Tay be rabbit and no rabbit, you radges.

1137
01:07:18,836 --> 01:07:20,496
Pure does my heed in can.

1138
01:07:23,236 --> 01:07:24,436
Merry Christmas freaks.

1139
01:07:24,716 --> 01:07:25,736
That was a hard one to read.

1140
01:07:26,636 --> 01:07:28,056
I thought it was a different language,

1141
01:07:28,056 --> 01:07:30,816
and then it just says Merry Christmas freaks at the bottom, which I don't.

1142
01:07:31,296 --> 01:07:33,036
Anyway, thank you for your support and Merry Christmas.

1143
01:07:33,676 --> 01:07:34,156
Thanks, Kurt.

1144
01:07:34,156 --> 01:07:35,096
are you in Appalachia?

1145
01:07:35,196 --> 01:07:36,176
Where are you?

1146
01:07:36,456 --> 01:07:42,136
Speaking of reading next boost from Reed 21,000 sats proposal for new

1147
01:07:42,136 --> 01:07:46,596
RHR title 2025 worst cattle bike ever.

1148
01:07:46,716 --> 01:07:47,616
I like that.

1149
01:07:47,776 --> 01:07:48,356
I like that.

1150
01:07:48,836 --> 01:07:49,856
I retweeted that one.

1151
01:07:50,916 --> 01:07:52,476
It's a bad cattle bike guys.

1152
01:07:53,156 --> 01:07:53,316
Yeah.

1153
01:07:53,316 --> 01:07:55,336
Next week's episode is going to be called Merry Christmas.

1154
01:07:55,336 --> 01:07:56,456
The week after that,

1155
01:07:56,516 --> 01:07:57,816
we'll call it worst cattle bike ever.

1156
01:07:58,656 --> 01:07:58,916
Yes.

1157
01:07:59,436 --> 01:08:01,136
Looking forward to 2026.

1158
01:08:02,516 --> 01:08:04,016
Unless there's a Christmas miracle.

1159
01:08:04,156 --> 01:08:12,476
between 444,444 coming uh let's see if we made our way there no we are down from where we started

1160
01:08:16,636 --> 01:08:25,276
um all right software updates btc pay server is out with version 2.3 starting today you can change

1161
01:08:25,276 --> 01:08:30,316
excuse me charge merchants of subscription fee to use your btc pay server making it sustainable for

1162
01:08:30,316 --> 01:08:34,596
local enthusiasts to onboard businesses to accept bitcoin while undercutting credit card fees and

1163
01:08:34,596 --> 01:08:40,496
preserving merchant self-custody brings in several long-awaited features making our biggest release

1164
01:08:40,496 --> 01:08:45,936
this year they have subscriptions server monetization plug plug-in builder 1.0 for

1165
01:08:45,936 --> 01:08:53,896
ratings and reviews payment requests redesign edd and drupal 11 uh 14 new languages is pretty big to

1166
01:08:53,896 --> 01:08:57,656
Yeah, absolutely massive.

1167
01:08:57,656 --> 01:08:59,396
Huge shout out to the BTC pay team.

1168
01:08:59,396 --> 01:09:11,766
Uncle Jim in the boardroom running a server for his local merchants you know Yeah this is something that BTC Pay operators like instant operators

1169
01:09:11,766 --> 01:09:19,746
The cool part about BTC Pay historically has been that you can run it, as Marty said, in an Uncle Jim mode,

1170
01:09:19,866 --> 01:09:25,046
where you're managing the actual node infrastructure and the instance.

1171
01:09:25,046 --> 01:09:29,706
And then people can basically, there's like a sign in, like a login for individual merchants.

1172
01:09:29,706 --> 01:09:33,886
So you can onboard merchants, but they don't actually have to run the BTC payback end.

1173
01:09:36,426 --> 01:09:46,806
And now, but people are basically like kind of just doing that out of the goodness of their hearts or kind of charging out of band for the services or trying to monetize in other ways.

1174
01:09:47,146 --> 01:09:52,246
Now it's actually, you know, first class citizen, you can charge for it, which is really cool to see.

1175
01:09:52,246 --> 01:09:54,726
I mean, we're seeing it with the square rollouts right now.

1176
01:09:54,726 --> 01:10:01,206
it's it's if you give someone i think square they're giving uh or block they're giving uh

1177
01:10:01,206 --> 01:10:06,806
25 if you're the first person to pay bitcoin at a square merchant so basically they're giving you

1178
01:10:06,806 --> 01:10:15,046
25 if you are basically you have proof that you onboarded that merchant to bitcoin um

1179
01:10:16,326 --> 01:10:21,846
and like it doesn't take much that people love it people just go out and and do the thing on this

1180
01:10:21,846 --> 01:10:29,046
note by the way i don't know if you saw uh the tax free section in oslo airport now accepts bitcoin

1181
01:10:29,046 --> 01:10:35,766
using btc pay server you know like the duty free shops did not see that it's pretty bad and so i

1182
01:10:36,406 --> 01:10:40,646
i asked rockstar who did that he doesn't even know who did that like just some local freak

1183
01:10:41,606 --> 01:10:49,766
presumably went to the tax-free shops and convinced them to onboard to btc pay and so

1184
01:10:49,766 --> 01:10:51,046
So there's probably being run,

1185
01:10:51,146 --> 01:10:52,926
like a random freak is probably running

1186
01:10:52,926 --> 01:10:55,406
that BTC pay instance for free for the,

1187
01:10:56,306 --> 01:10:59,746
because I doubt like Oslo tax-free duty-free shops

1188
01:10:59,746 --> 01:11:01,606
are like running their own BTC pay server.

1189
01:11:02,986 --> 01:11:03,106
Yeah.

1190
01:11:04,006 --> 01:11:05,046
And to be clear here,

1191
01:11:05,126 --> 01:11:06,246
if they're running your BTC,

1192
01:11:06,546 --> 01:11:09,086
if you're using a hosted instance of BTC pay,

1193
01:11:09,166 --> 01:11:11,206
the key is they're not taking custody of funds.

1194
01:11:11,726 --> 01:11:13,206
The custody is still held with the merchant.

1195
01:11:13,206 --> 01:11:15,366
They're just not running all that infrastructure separately.

1196
01:11:16,426 --> 01:11:16,826
Yeah.

1197
01:11:18,466 --> 01:11:19,106
Pretty cool.

1198
01:11:19,106 --> 01:11:35,006
Cool to see. Merchant adoption enabled by better infrastructure. We saw Square roll out their stuff earlier this year. Now you had the free and open source version of that BTC Pay server. Getting more robust.

1199
01:11:35,006 --> 01:11:57,846
This is what you want. You want as many options. The beauty of Bitcoin is that it's a tool that you can use in many different ways without permission. And we'll have corporate options. We'll have open source options. And people will choose how they want to use Bitcoin based on their use case, threat model, technical capability. It's beautiful.

1200
01:11:57,846 --> 01:12:05,206
it's cool to see next up on the list tether has released pair pass password manager that keeps

1201
01:12:05,206 --> 01:12:11,126
your data on your devices this was cool no servers to hack no cloud to leak just pure local security

1202
01:12:12,006 --> 01:12:18,326
so this is using um the whole punch tech that they basically subsidized over at tether

1203
01:12:19,046 --> 01:12:27,046
um they uh a couple pieces here so the the most popular or still not really that popular but the

1204
01:12:27,046 --> 01:12:35,926
The most popular use of Hole Punch has been Keat, which is their P2P messenger, their video and audio and text messenger that's encrypted.

1205
01:12:37,026 --> 01:12:46,466
Now, Keat has come a long way and it's pretty usable now, but it has some issues with, you know, the other person needs to be online.

1206
01:12:46,906 --> 01:12:51,886
You know, you don't have the benefits of having a server in between in terms of uptime and reliability.

1207
01:12:52,606 --> 01:12:54,906
But you have the opposite is true, right?

1208
01:12:54,906 --> 01:12:59,666
Like you don't want a server in between if you care about censorship resistance and permissionless use.

1209
01:13:00,846 --> 01:13:03,206
Keet has also been really slow to open source.

1210
01:13:04,006 --> 01:13:10,486
Now this, first of all, is already open source is my understanding, which is awesome to see.

1211
01:13:10,626 --> 01:13:12,366
Like I hate like the promises.

1212
01:13:12,626 --> 01:13:13,886
Oh, we'll open source in the future.

1213
01:13:14,526 --> 01:13:15,546
Like just fucking do it.

1214
01:13:16,026 --> 01:13:17,726
For things like this, it's incredibly important.

1215
01:13:18,946 --> 01:13:24,666
But second of all, it's just like a really interesting novel use case for serverless tech.

1216
01:13:24,906 --> 01:13:46,326
Right. Basically with password managers, you've had two different sides, right? You've had the hosted server stuff that is sacrificing security for convenience because you have a server involved that's holding all your intimate passwords, right? Like most private data that you have.

1217
01:13:46,326 --> 01:13:53,786
or you've had self-hosted stuff that doesn't sync between devices and you like lose a phone

1218
01:13:53,786 --> 01:13:57,526
or something and then you just like lose access to your bank and everything you can't order a new

1219
01:13:57,526 --> 01:14:03,726
debit card and it's a huge pain in the fucking ass so this is an interesting middle ground I

1220
01:14:03,726 --> 01:14:09,446
think it it makes a lot of sense I will say it is very early I don't go and just like upload all

1221
01:14:09,446 --> 01:14:15,886
your passwords immediately like enter all your passwords into this app but I think it's a cool

1222
01:14:15,886 --> 01:14:27,346
project. It wasn't on my radar. And now it is. I see Esme Horn zapped 33,058 sats. He says 21

1223
01:14:27,346 --> 01:14:33,146
great British pounds from London. Thank you guys for everything you do. Thank you, sir. Thank you

1224
01:14:33,146 --> 01:14:38,646
for not taking it personally. Me shitting on London in the last two weeks. And have you considered

1225
01:14:38,646 --> 01:14:48,646
leaving yeah why don't you save that money for a plane ticket yeah portugal's not too far away

1226
01:14:48,646 --> 01:14:55,686
do you portugal where would you go maybe yeah portugal's good if you're uk yeah you can still

1227
01:14:55,686 --> 01:15:00,406
be home close to family i've only heard good things about portugal a lot of a lot of british

1228
01:15:00,406 --> 01:15:09,126
expats go to Portugal. By the way, did you see, in terms of British and not leaving,

1229
01:15:09,126 --> 01:15:14,406
did you see Peter McCormick's change.org petition about consent?

1230
01:15:16,006 --> 01:15:16,886
No, it wasn't.

1231
01:15:18,326 --> 01:15:19,286
I think it's...

1232
01:15:21,686 --> 01:15:25,046
He has a webpage. I said change.org, but it's actually self-hosted.

1233
01:15:25,046 --> 01:15:26,166
So shout out to him for that.

1234
01:15:26,886 --> 01:15:30,246
Let me see. What are we looking at? Is it pinned tweet? Hopefully so.

1235
01:15:30,406 --> 01:15:39,526
He posted on Noster. It's called I Will Not Consent. I think it's it's I no longer consent.com.

1236
01:15:40,886 --> 01:15:42,526
I no longer consent.

1237
01:15:43,126 --> 01:15:48,966
He's entering the this is his Martin Luther King phase, British Martin Luther King phase.

1238
01:15:51,486 --> 01:15:54,246
Peaceful nonviolent protest in the UK.

1239
01:15:54,246 --> 01:16:16,386
This country doesn't work anymore. Life keeps getting more expensive. Public services keep getting worse. And we're all expected to work harder for less. Most people can feel it. But we're expected to carry on as if this is normal. It isn't. This is a calm, lawful way for ordinary people to withdraw legitimacy from a failing system and show that authority comes from us, the public, not the government.

1240
01:16:17,486 --> 01:16:22,046
Yeah. I mean, Peter has been radicalized throughout the years. I remember we were beating him over the head.

1241
01:16:22,046 --> 01:16:27,966
his journey has been great i do think oh you don't even have universal free

1242
01:16:27,966 --> 01:16:32,346
health care in the united states you're doing it's like nhs is a show brother

1243
01:16:32,346 --> 01:16:43,406
um i mean for for like i think it's a lost cause but i commend i commend him uh trying to fight the

1244
01:16:43,406 --> 01:16:48,646
fight he obviously cares about his hometown of bedford um and he's building businesses there

1245
01:16:48,646 --> 01:16:49,966
and trying to practice what he preaches.

1246
01:16:50,606 --> 01:16:51,506
I want to be clear.

1247
01:16:51,886 --> 01:16:52,446
I love Peter.

1248
01:16:52,726 --> 01:16:53,186
We're friends.

1249
01:16:53,866 --> 01:16:56,386
It has been fun to watch his transition into like, hey.

1250
01:16:56,426 --> 01:16:57,206
No, I've disagreed.

1251
01:16:57,366 --> 01:16:58,806
Throughout the years, I've disagreed.

1252
01:16:58,806 --> 01:16:59,866
Government is not our friends.

1253
01:17:00,486 --> 01:17:01,726
The government is not our friend, Peter.

1254
01:17:01,906 --> 01:17:02,886
We've been telling you this for years.

1255
01:17:02,986 --> 01:17:04,846
I'm glad to see you're opting out.

1256
01:17:05,646 --> 01:17:08,406
You could be friends with someone whose opinions you disagree with.

1257
01:17:08,586 --> 01:17:09,526
Like that is true.

1258
01:17:10,226 --> 01:17:11,186
You should be.

1259
01:17:11,426 --> 01:17:14,846
Like this is, it's insane that you're supposed to agree with everything.

1260
01:17:15,686 --> 01:17:16,986
Otherwise, you're enemies.

1261
01:17:18,646 --> 01:17:26,806
But I just want to point out here, the British speech laws are so fucked up that he was so careful when he wrote this thing.

1262
01:17:27,266 --> 01:17:28,306
Can you tell?

1263
01:17:28,946 --> 01:17:29,566
Yeah.

1264
01:17:29,886 --> 01:17:43,806
Like he's just like making sure, you know, I'm not calling for any harassment or violence or, you know, no breaking the law, just collective noncompliance.

1265
01:17:44,066 --> 01:17:47,726
Ordinary people withdraw consent calmly, lawfully together.

1266
01:17:48,646 --> 01:17:52,406
I feel like you have to like really walk in eggshells over there right now.

1267
01:17:53,986 --> 01:17:54,306
Yeah.

1268
01:18:00,066 --> 01:18:00,906
Parker's watching.

1269
01:18:01,426 --> 01:18:02,046
Parker, I see.

1270
01:18:02,486 --> 01:18:02,946
Oi, mate.

1271
01:18:03,826 --> 01:18:04,866
This is British.

1272
01:18:05,526 --> 01:18:06,446
I'm making fun of my accent.

1273
01:18:07,726 --> 01:18:08,626
Did he text you?

1274
01:18:09,786 --> 01:18:11,746
No, he quote tweeted the episode.

1275
01:18:11,746 --> 01:18:15,086
Thank you for sharing from your massive audience.

1276
01:18:15,666 --> 01:18:17,906
Tune in whenever Marty Ben tries to do a British accent.

1277
01:18:17,906 --> 01:18:20,666
And it sounds decidedly Australian and he knows it,

1278
01:18:20,786 --> 01:18:21,846
but can't do anything about it.

1279
01:18:21,926 --> 01:18:22,206
It's true.

1280
01:18:23,166 --> 01:18:23,526
Who is,

1281
01:18:23,866 --> 01:18:27,206
I see Pete Smith is shitting on our audio.

1282
01:18:28,166 --> 01:18:30,326
Is it my fault or is it Marty's fault?

1283
01:18:30,506 --> 01:18:31,226
It's probably my,

1284
01:18:31,386 --> 01:18:32,706
I know this mic's not like,

1285
01:18:32,926 --> 01:18:36,666
I need to get the shore mics that we have in the studio in Austin.

1286
01:18:36,926 --> 01:18:37,066
Look,

1287
01:18:37,086 --> 01:18:38,746
I thought I told you didn't mail me one of those.

1288
01:18:38,866 --> 01:18:39,766
How come you haven't done that yet?

1289
01:18:39,786 --> 01:18:40,206
Do you listen?

1290
01:18:40,306 --> 01:18:41,966
Are you insubordinate right now?

1291
01:18:42,066 --> 01:18:42,546
He says,

1292
01:18:42,666 --> 01:18:46,926
I need to put a high pass filter on my mic or is it your mic that we're

1293
01:18:46,926 --> 01:18:47,966
supposed to put the filter on.

1294
01:18:48,606 --> 01:18:49,246
Is that like a pop filter?

1295
01:18:49,246 --> 01:18:52,066
I know my audio quality has historically been horrible.

1296
01:18:53,706 --> 01:18:54,406
You sound good to me.

1297
01:18:54,446 --> 01:18:55,226
But it's trying to be better.

1298
01:18:55,386 --> 01:18:55,786
Oh, look.

1299
01:18:56,026 --> 01:18:57,546
High pass filters.

1300
01:18:59,166 --> 01:19:00,486
I have the option.

1301
01:19:00,606 --> 01:19:01,126
Should I click it?

1302
01:19:01,486 --> 01:19:02,806
Does it sound any better now?

1303
01:19:06,266 --> 01:19:06,946
Where do I do this?

1304
01:19:06,946 --> 01:19:08,986
But high pass filters for like HVAC.

1305
01:19:08,986 --> 01:19:10,506
I don't have an HVAC running.

1306
01:19:13,726 --> 01:19:14,606
Do I got a sound?

1307
01:19:14,626 --> 01:19:15,286
Do I sound better?

1308
01:19:15,286 --> 01:19:18,946
I clean up the audio on the podcast release

1309
01:19:18,946 --> 01:19:21,866
The Chundy Gunderson

1310
01:19:21,866 --> 01:19:23,786
6647 the mic is fine

1311
01:19:23,786 --> 01:19:28,226
21 in the primal chat

1312
01:19:28,226 --> 01:19:29,466
you guys sound fine

1313
01:19:29,466 --> 01:19:31,706
Bitter21 audio is good

1314
01:19:31,706 --> 01:19:35,446
Brian sounds the same fine

1315
01:19:35,446 --> 01:19:38,066
Sounds like PeteSmith6321

1316
01:19:38,066 --> 01:19:39,186
is just an audio file

1317
01:19:39,186 --> 01:19:41,086
We care about you

1318
01:19:41,086 --> 01:19:43,306
We tried

1319
01:19:43,306 --> 01:19:44,166
Thank you for caring

1320
01:19:44,166 --> 01:19:51,006
speaking of caring uh the team of coin kite cares about you being able to easily sweep the bitcoin

1321
01:19:51,006 --> 01:19:57,206
off your sats card and they've released in test flight that's buddy they didn't release that

1322
01:19:57,206 --> 01:20:04,926
i said in test flight it's not it's not coin kite who released it oh who did it's matt ramson

1323
01:20:04,926 --> 01:20:12,466
nashville nashville uh bdk contributor nashville local who runs our bit dubs oh that's good to say

1324
01:20:15,126 --> 01:20:19,126
but anyway just in time just in time for christmas if you are loading up a bunch of

1325
01:20:19,126 --> 01:20:28,726
stats cards uh it makes it easy to uh manage them it's not for redeeming stats cards um

1326
01:20:28,726 --> 01:20:35,526
the best way i know of redeeming stats cards is cove wallet on ios or nunchuck on android and ios

1327
01:20:36,806 --> 01:20:41,686
um the coolest part about a stats card by the way the stats cards if you're not familiar are the

1328
01:20:41,686 --> 01:20:44,126
they look like a gift card,

1329
01:20:44,246 --> 01:20:45,766
but they actually hold a private key on them.

1330
01:20:46,286 --> 01:20:48,046
And it's a way to gift Bitcoin physically.

1331
01:20:48,286 --> 01:20:50,126
It's the card version of Open Dimes.

1332
01:20:51,226 --> 01:20:52,286
The coolest part is that

1333
01:20:52,286 --> 01:20:54,326
you can just tap that on the phone without an app

1334
01:20:54,326 --> 01:20:56,106
and it just shows you the balance in the browser,

1335
01:20:56,886 --> 01:20:58,766
which is just incredibly satisfying.

1336
01:20:59,806 --> 01:21:00,526
It's pretty sweet.

1337
01:21:00,606 --> 01:21:01,026
It's pretty cool.

1338
01:21:01,966 --> 01:21:03,026
Where do you hold your Bitcoin?

1339
01:21:03,166 --> 01:21:03,966
You pull out your Sats card,

1340
01:21:04,066 --> 01:21:04,746
tap it on your phone.

1341
01:21:04,966 --> 01:21:05,826
Right here, brother.

1342
01:21:06,086 --> 01:21:06,606
Right here.

1343
01:21:07,186 --> 01:21:07,726
Look at it.

1344
01:21:08,326 --> 01:21:09,046
Look at it.

1345
01:21:10,046 --> 01:21:10,326
Okay.

1346
01:21:11,046 --> 01:21:11,446
Fuck.

1347
01:21:11,686 --> 01:21:16,286
I see what you're laughing at

1348
01:21:16,286 --> 01:21:17,946
the

1349
01:21:17,946 --> 01:21:21,186
next thing on the list

1350
01:21:21,186 --> 01:21:22,826
moving on

1351
01:21:22,826 --> 01:21:24,706
shout out to Matt for dropping it

1352
01:21:24,706 --> 01:21:25,926
sorry I assumed it was coin kite

1353
01:21:25,926 --> 01:21:28,866
supposedly Logan sounds the best according to Bitter21

1354
01:21:28,866 --> 01:21:30,186
yeah because he's got

1355
01:21:30,186 --> 01:21:31,646
the mic that I want

1356
01:21:31,646 --> 01:21:34,726
do you think Logan intentionally

1357
01:21:34,726 --> 01:21:36,926
fucks with our audio just so he sounds better

1358
01:21:36,926 --> 01:21:38,406
I wouldn't be shocked

1359
01:21:38,406 --> 01:21:40,266
should I say

1360
01:21:40,266 --> 01:21:42,066
It would be a really petty thing to do.

1361
01:21:42,506 --> 01:21:44,126
Should I send you the roadcaster as well?

1362
01:21:45,706 --> 01:21:46,586
No, I don't need that.

1363
01:21:46,586 --> 01:21:48,046
You're not going to be able to plug this in.

1364
01:21:48,906 --> 01:21:49,146
I know.

1365
01:21:49,466 --> 01:21:50,526
I was going to buy another one,

1366
01:21:50,646 --> 01:21:52,886
because I assumed that you need yours.

1367
01:21:55,946 --> 01:21:56,686
Moving on.

1368
01:21:56,826 --> 01:21:58,186
Venezuela oil blockade.

1369
01:21:58,546 --> 01:22:01,946
Apparently, we were supposed to be told last night

1370
01:22:01,946 --> 01:22:03,066
that we're going to war with Venezuela.

1371
01:22:03,346 --> 01:22:04,066
It didn't happen.

1372
01:22:04,366 --> 01:22:08,066
Instead, we got the warrior stimulus check, 1776.

1373
01:22:08,066 --> 01:22:16,946
uh 1,776 going to our armed forces because of the uh influx of revenue from the tariff

1374
01:22:16,946 --> 01:22:21,186
that was trump trump with the journalists right

1375
01:22:21,186 --> 01:22:28,686
i don't know i wasn't i haven't been following what journalist well like he convinced like all

1376
01:22:28,686 --> 01:22:32,426
the news agencies to like cover his live press conference that they thought we were going to war

1377
01:22:32,426 --> 01:22:45,256
And then he was like I giving I giving all the troops money Yeah I mean so Tucker was pretty convinced yesterday from what I can tell

1378
01:22:45,816 --> 01:22:47,536
There was clips floating around of him saying,

1379
01:22:47,636 --> 01:22:50,016
hey, I heard from people inside the intel community

1380
01:22:50,016 --> 01:22:51,716
that were preparing for war.

1381
01:22:52,376 --> 01:22:57,116
Venezuela, it seems like we're already somewhat in a silent war.

1382
01:22:59,696 --> 01:23:01,976
You actually have no opinions on the blockade?

1383
01:23:01,976 --> 01:23:10,456
I mean, I think the blockade were blocking the oil coming in and out of Venezuela.

1384
01:23:11,456 --> 01:23:12,616
I saw a stat.

1385
01:23:12,716 --> 01:23:21,536
Apparently, it cost $200 million a day for Venezuela to run their government, run their services, run their operations.

1386
01:23:21,876 --> 01:23:23,836
They have a billion in the bank.

1387
01:23:23,956 --> 01:23:28,676
And so this blockade is an attempt to take away the source of the revenue, which is oil.

1388
01:23:29,676 --> 01:23:30,736
That's the theory I heard.

1389
01:23:30,736 --> 01:23:38,536
is the blockade is happening to starve the maduro regime of their i mean clearly cash balance you

1390
01:23:38,536 --> 01:23:44,196
have any i was i mean you're the energy guy on the show i was hoping we're gonna get a

1391
01:23:44,196 --> 01:23:51,696
more interesting take than that to be honest i'm a little bit disappointed do you want to do like

1392
01:23:51,696 --> 01:23:55,496
is oil gonna pump like what are we talking about is that what you want or like that's the crazy

1393
01:23:55,496 --> 01:24:03,916
part is oil's cheap as fuck still yeah no i mean uh i mean i think what i mean what maduro what

1394
01:24:03,916 --> 01:24:09,836
chavez and maduro did to the oil gas industry in venezuela is a crime against number one the

1395
01:24:09,836 --> 01:24:14,136
citizens of venezuela but i think more broadly a crime against humanity because it's one of the

1396
01:24:14,136 --> 01:24:22,196
most oil rich nations in the world and you had a bunch of british and american oil and gas

1397
01:24:22,196 --> 01:24:26,976
companies like Shell, Chevron, BP were down there. They essentially got kicked out, their assets

1398
01:24:26,976 --> 01:24:33,816
confiscated, and Chavez and Maduro did not maintain them properly. Their energy infrastructure has

1399
01:24:33,816 --> 01:24:37,616
collapsed. Obviously, they can still get some oil, but it's not as robust as it should be.

1400
01:24:38,556 --> 01:24:43,636
I think the other big thing that really is probably forcing the issue or a material

1401
01:24:43,636 --> 01:24:49,276
consideration with forcing this issue is the oil and gas deposits that were found at the

1402
01:24:49,276 --> 01:24:55,356
to guayana which yeah that's what i was going to bring up 100 related which borders venezuela

1403
01:24:55,356 --> 01:24:59,996
and venezuela has been basically posturing that they're going to invade guayana to take over those

1404
01:25:00,716 --> 01:25:05,756
assets and so i think this is a protection for the untapped oil gas in guayana like have you

1405
01:25:05,756 --> 01:25:13,356
looked at on a map like it's i mean i think it's arguable whose deposits they are like it's like

1406
01:25:13,356 --> 01:25:17,676
basically like right on the border in the water well they were one country at one point right

1407
01:25:17,676 --> 01:25:23,836
it's like it's the same oil yeah like what was it with like kuwait and iraq it's like oh they were

1408
01:25:23,836 --> 01:25:29,116
like they uh iraq was saying that they were like cross drilling it's like they were putting their

1409
01:25:29,116 --> 01:25:37,436
straw and drinking their milkshake through the yeah through the border yeah um i mean it seems

1410
01:25:37,436 --> 01:25:45,276
very similar i mean if you look at oil reserves venezuela is still like absolutely massive in the

1411
01:25:45,276 --> 01:25:46,876
in the global scheme of things.

1412
01:25:50,436 --> 01:25:52,036
I'm pulling up Google maps here.

1413
01:25:52,036 --> 01:25:52,876
Yeah, Guayana.

1414
01:25:52,876 --> 01:25:53,716
It's crazy.

1415
01:25:53,716 --> 01:25:56,316
I mean, they're right on top of each other.

1416
01:25:56,316 --> 01:25:57,876
Yeah.

1417
01:25:57,876 --> 01:25:59,636
And like the Guayana

1418
01:26:01,876 --> 01:26:02,716
Results.

1419
01:26:02,716 --> 01:26:03,916
Is that how you pronounce it?

1420
01:26:03,916 --> 01:26:05,036
Guayana?

1421
01:26:05,036 --> 01:26:06,356
Guayana?

1422
01:26:06,356 --> 01:26:07,196
Guayana?

1423
01:26:07,196 --> 01:26:08,036
I don't know.

1424
01:26:08,036 --> 01:26:08,876
Guayana?

1425
01:26:08,876 --> 01:26:09,716
Guayana?

1426
01:26:09,716 --> 01:26:10,636
You know I'm very good at

1427
01:26:10,636 --> 01:26:12,796
pronunciations.

1428
01:26:13,796 --> 01:26:14,596
I don't know.

1429
01:26:15,276 --> 01:26:21,156
Yeah, I mean, apparently this reserve that they found on the coast of Guyana is pretty massive.

1430
01:26:21,816 --> 01:26:25,636
Why is their border dotted on Google Maps?

1431
01:26:25,736 --> 01:26:27,896
Is it because no one can agree on where the border is?

1432
01:26:28,576 --> 01:26:33,716
Yeah, like I said, I think part, like that western part of Guyana was Venezuela at one point, if I recall correctly.

1433
01:26:34,756 --> 01:26:37,156
All the borders are dots in this region.

1434
01:26:38,376 --> 01:26:40,236
You see, also on the Suriname side.

1435
01:26:41,356 --> 01:26:41,676
Yeah.

1436
01:26:41,836 --> 01:26:42,116
Same.

1437
01:26:42,756 --> 01:26:43,036
Anyway.

1438
01:26:43,036 --> 01:26:50,416
yeah so i imagine that's it what's to say do you think it's actually like do you think the

1439
01:26:50,416 --> 01:26:58,716
drugs piece is just kind of tangential to all this energy stuff uh i think it all ties together

1440
01:26:58,716 --> 01:27:07,576
to a certain degree i mean the drug stuff i've said it i very pissed off a lot of people on x but

1441
01:27:07,576 --> 01:27:10,696
I think it's justified. You have

1442
01:27:10,696 --> 01:27:12,316
narco-terrorists running drugs

1443
01:27:12,316 --> 01:27:14,736
in international waters

1444
01:27:14,736 --> 01:27:16,316
which is technically piracy

1445
01:27:16,316 --> 01:27:18,776
and the libertarians

1446
01:27:18,776 --> 01:27:20,436
out there saying we shouldn't have a drug war.

1447
01:27:20,616 --> 01:27:22,216
These people should have trials. It's like, well,

1448
01:27:22,796 --> 01:27:23,976
we haven't declared war.

1449
01:27:24,536 --> 01:27:24,936
It's like, well,

1450
01:27:25,696 --> 01:27:28,396
the combination of the

1451
01:27:28,396 --> 01:27:30,076
narco-terrorist China, whatever, they've

1452
01:27:30,076 --> 01:27:32,676
smuggled a ton

1453
01:27:32,676 --> 01:27:34,556
of fentanyl to the country over the last

1454
01:27:34,556 --> 01:27:36,396
couple decades and killed literally

1455
01:27:36,396 --> 01:27:37,696
hundreds of thousands of Americans.

1456
01:27:38,636 --> 01:27:40,416
I don't know what you expect people to do.

1457
01:27:40,616 --> 01:27:44,716
The 4D chess theory of bombing the narco boats

1458
01:27:44,716 --> 01:27:45,696
is that you bomb them,

1459
01:27:45,876 --> 01:27:49,716
and then the narco terrorists have to reshuffle and recalibrate,

1460
01:27:49,816 --> 01:27:51,976
and that sets off them calling each other

1461
01:27:51,976 --> 01:27:53,976
and moving assets and moving money,

1462
01:27:54,316 --> 01:27:55,976
which can make them easier to find.

1463
01:27:56,076 --> 01:27:57,316
That's the 4D chess theory.

1464
01:27:58,536 --> 01:28:00,756
I mean, it's not even that 4D.

1465
01:28:01,116 --> 01:28:02,296
It's pretty straightforward.

1466
01:28:02,616 --> 01:28:04,136
It's like 3D chess.

1467
01:28:04,856 --> 01:28:05,236
No, yeah.

1468
01:28:05,236 --> 01:28:07,276
I mean, I think it's –

1469
01:28:07,276 --> 01:28:09,676
Of course, if you blow them up, they're going to scramble.

1470
01:28:10,196 --> 01:28:11,016
I think it's all connected.

1471
01:28:11,176 --> 01:28:14,916
You want to stop the drugs from being imported, killing Americans,

1472
01:28:14,916 --> 01:28:19,616
and the oil and gas is certainly a big cherry on top

1473
01:28:19,616 --> 01:28:24,536
if you can get Maduro out of there and get an ally, a perceived ally,

1474
01:28:25,036 --> 01:28:28,016
maybe a controlled ally in Venezuela.

1475
01:28:29,796 --> 01:28:31,916
Yeah, I think Peter's talking about your mic, by the way,

1476
01:28:32,316 --> 01:28:33,596
with the high-pass filter.

1477
01:28:34,216 --> 01:28:35,216
Peter, shut the fuck up.

1478
01:28:35,236 --> 01:28:41,836
God. Yeah. I mean, I think it's probably more to do with the energy stuff.

1479
01:28:46,156 --> 01:28:52,116
But I don't know. I think it's definitely a messy, it's a messy situation, no matter how you cut it

1480
01:28:52,716 --> 01:29:02,516
on the dealing, dealing with the just droning drug boats with like zero due process. But I

1481
01:29:02,516 --> 01:29:07,136
understand the argument for it if we can't stop them otherwise. I did think it was interesting

1482
01:29:07,136 --> 01:29:16,136
that they were like critics of the administration's blowing up the boats. They're like, you should

1483
01:29:16,136 --> 01:29:20,396
just seize shit. And then it was like two days later, they've seized the oil tanker.

1484
01:29:20,396 --> 01:29:24,196
It was like right after people were like, oh, well, why don't you seize boats? And then

1485
01:29:24,196 --> 01:29:27,076
they filmed the whole thing in like 4K and like posted it on Twitter.

1486
01:29:27,076 --> 01:29:28,476
The helicopters.

1487
01:29:28,476 --> 01:29:36,716
yeah so i mean it's definitely all related yeah i did see anything i'm not i'm not trying to be

1488
01:29:36,716 --> 01:29:41,276
like a sicko fan here either a psycho fan uh sicko fan however you pronounce that but uh

1489
01:29:41,996 --> 01:29:48,956
i do worry like this could devolve into like gen z's vietnam if things if you escalate and you're

1490
01:29:48,956 --> 01:29:53,756
like forced into some well i think there's a i mean there's a decent chance for i mean he was

1491
01:29:53,756 --> 01:30:00,696
was supposed to also be the no war president. So a couple of things. First of all, on the boat

1492
01:30:00,696 --> 01:30:06,776
bombings, there's two things here. One, are we justified to bomb their boats without due process?

1493
01:30:07,336 --> 01:30:14,656
And the second was, there was a specific case where supposedly Hegseth blew up the boat,

1494
01:30:14,816 --> 01:30:20,416
and then they were floating on pieces of wood, and then he shot another, he double-tapped them,

1495
01:30:20,416 --> 01:30:22,716
which is, that's particularly bad.

1496
01:30:22,896 --> 01:30:24,096
Like that is, I don't know.

1497
01:30:25,236 --> 01:30:26,516
It's hard to support that.

1498
01:30:26,636 --> 01:30:28,096
Like they're probably going to drown anyway.

1499
01:30:28,876 --> 01:30:29,716
You can like, I don't know,

1500
01:30:29,796 --> 01:30:33,936
bring a boat up against them and arrest them if you so be it.

1501
01:30:33,936 --> 01:30:34,816
Or you can just leave them out there.

1502
01:30:34,896 --> 01:30:37,416
But I don't know, hitting the second one is kind of questionable

1503
01:30:37,416 --> 01:30:40,036
or even more so than that.

1504
01:30:40,676 --> 01:30:42,636
But I mean, I think the core of this thing,

1505
01:30:42,636 --> 01:30:49,636
the core of this issue is Venezuela is a relatively,

1506
01:30:50,416 --> 01:30:52,176
strong,

1507
01:30:53,596 --> 01:30:55,836
adversarial regime

1508
01:30:55,836 --> 01:30:57,816
in our sphere of influence

1509
01:30:57,816 --> 01:30:59,616
that is being backed by China.

1510
01:31:00,716 --> 01:31:03,236
And it's like Cold War 2.0.

1511
01:31:03,316 --> 01:31:05,236
We're having like a proxy war over there

1512
01:31:05,236 --> 01:31:06,836
for dominance over the atmosphere.

1513
01:31:08,296 --> 01:31:08,816
Yeah.

1514
01:31:11,556 --> 01:31:12,796
I'm just looking at the map.

1515
01:31:14,056 --> 01:31:16,636
And I think energy has a lot to do with it.

1516
01:31:17,156 --> 01:31:19,116
I think it has everything to do with it.

1517
01:31:19,116 --> 01:31:23,876
And they found right before all this started, like when did they find the Guyana reserves?

1518
01:31:23,996 --> 01:31:25,816
It was like right before all this shit started.

1519
01:31:26,136 --> 01:31:26,956
It was like last year.

1520
01:31:27,256 --> 01:31:32,436
It was some point in 2024, I think.

1521
01:31:34,336 --> 01:31:35,776
Reserves discovered.

1522
01:31:37,856 --> 01:31:39,276
It was 2025.

1523
01:31:39,996 --> 01:31:40,476
I see.

1524
01:31:40,476 --> 01:31:41,116
No?

1525
01:31:48,236 --> 01:31:48,616
Yeah.

1526
01:31:49,116 --> 01:31:56,896
see here the rise of the guyana super basin yeah so i think they found stuff successfully

1527
01:31:56,896 --> 01:32:04,276
like not successively excuse me they've they just been finding more it was much bigger right

1528
01:32:04,276 --> 01:32:06,756
yeah they're just finding more and more deposits or like uh

1529
01:32:06,756 --> 01:32:16,116
let me see

1530
01:32:16,116 --> 01:32:20,296
the buenos aires herald

1531
01:32:20,296 --> 01:32:22,576
it looks like they discovered it in

1532
01:32:22,576 --> 01:32:23,156
2015

1533
01:32:23,156 --> 01:32:26,496
but like since then they keep finding more

1534
01:32:26,496 --> 01:32:28,376
and more yeah it was way bigger than

1535
01:32:28,376 --> 01:32:29,076
they thought it was

1536
01:32:29,076 --> 01:32:32,136
let me see

1537
01:32:32,136 --> 01:32:36,136
yeah that's what I think it was

1538
01:32:36,136 --> 01:32:37,836
last year or two years ago.

1539
01:32:38,096 --> 01:32:38,376
They were like,

1540
01:32:38,416 --> 01:32:39,416
oh, this is actually way bigger

1541
01:32:39,416 --> 01:32:40,756
than we thought it was.

1542
01:32:43,056 --> 01:32:45,356
Christ is Lord 7,

1543
01:32:46,016 --> 01:32:46,896
not 1 through 6.

1544
01:32:47,016 --> 01:32:49,376
Christ is Lord number 7 on YouTube says,

1545
01:32:49,376 --> 01:32:51,136
by 2029, 2030,

1546
01:32:51,416 --> 01:32:52,976
start of Great Depression 2.0,

1547
01:32:53,936 --> 01:32:55,296
which hopefully they call it something else

1548
01:32:55,296 --> 01:32:56,456
because that's horrible branding.

1549
01:32:56,876 --> 01:32:58,836
Everything and everyone is going to tank, bro.

1550
01:32:59,236 --> 01:33:00,956
Then America is going to confiscate your BTC

1551
01:33:00,956 --> 01:33:03,376
just like they did with your gold in 1933

1552
01:33:03,376 --> 01:33:05,276
to help combat this depression.

1553
01:33:06,136 --> 01:33:15,156
all right brother or it might be a christmas miracle it could be a christmas miracle

1554
01:33:15,156 --> 01:33:27,256
uh sup freaks this is uh i got a lag so i can't read it 25 125 sapus some fl justin

1555
01:33:27,256 --> 01:33:32,076
florida justin sup freaks merry christmas state adventurous stack sats via con deals

1556
01:33:32,076 --> 01:33:39,776
live with god i um we also missed a pringle mac uh 21 000 sap boost

1557
01:33:39,776 --> 01:33:46,236
huge uh i know it's early for her right now so when i told her the time we were ripping she said

1558
01:33:46,236 --> 01:33:53,116
it was 5 a.m her time so thank you good morning thank you for waking up early to zap us support

1559
01:33:53,116 --> 01:34:01,076
the show join the live chat nothing's gonna happen buy an 80 foot flat screen smoke a little

1560
01:34:01,076 --> 01:34:03,316
We played some video games and watched the NFL.

1561
01:34:03,916 --> 01:34:04,576
We all good, bro.

1562
01:34:04,716 --> 01:34:05,576
Nothing to see here.

1563
01:34:06,296 --> 01:34:07,216
Catch the game last night?

1564
01:34:07,756 --> 01:34:08,376
Let's catch the game.

1565
01:34:08,496 --> 01:34:10,516
Do you think the Eagles are going to win the NFC East?

1566
01:34:10,516 --> 01:34:15,836
I haven't watched a single football game this year.

1567
01:34:16,696 --> 01:34:16,856
Yeah.

1568
01:34:18,756 --> 01:34:20,396
Great Depression 2.0.

1569
01:34:22,516 --> 01:34:23,476
This country's fat.

1570
01:34:23,556 --> 01:34:24,616
We could use a Great Depression.

1571
01:34:24,836 --> 01:34:26,556
Did you hear about how much weight was lost?

1572
01:34:28,056 --> 01:34:30,096
Lifespan increase because people were intermittent.

1573
01:34:30,096 --> 01:34:37,936
but now we got seed oils and glyphosates and like even if you're poor you'd get fat as yeah um

1574
01:34:40,256 --> 01:34:44,656
i got one more we got no the truth of the matter is marty we're living in a great depression

1575
01:34:44,656 --> 01:34:50,816
i think mallards does a good job of it's a silent depression explaining this better than me but um

1576
01:34:52,336 --> 01:34:55,136
i think he hit the nail on the head when the when the great depression happened

1577
01:34:55,136 --> 01:34:58,336
the dollar was still backed by gold

1578
01:34:58,336 --> 01:35:00,496
and the depression was priced in gold

1579
01:35:00,496 --> 01:35:02,436
and if you price everything in gold

1580
01:35:02,436 --> 01:35:02,996
right now

1581
01:35:02,996 --> 01:35:05,176
we're in a great depression

1582
01:35:05,176 --> 01:35:07,236
we're getting our fucking asses kicked

1583
01:35:07,236 --> 01:35:10,156
but no one realizes it which is even worse

1584
01:35:10,156 --> 01:35:11,156
yeah

1585
01:35:11,156 --> 01:35:16,016
I paid $29

1586
01:35:16,016 --> 01:35:16,736
for

1587
01:35:16,736 --> 01:35:20,356
for six chicken breasts last night

1588
01:35:20,356 --> 01:35:22,556
it's insane

1589
01:35:22,556 --> 01:35:23,736
were they good?

1590
01:35:23,736 --> 01:35:25,136
They work good.

1591
01:35:25,956 --> 01:35:26,396
They work good.

1592
01:35:26,516 --> 01:35:27,016
Local farm.

1593
01:35:27,256 --> 01:35:30,296
Not every chicken breast is made the same.

1594
01:35:30,896 --> 01:35:31,256
No.

1595
01:35:31,716 --> 01:35:32,476
We made some cutlets.

1596
01:35:32,816 --> 01:35:35,796
I'm sure you saw me eating, scarfing some down right before we hit record.

1597
01:35:36,096 --> 01:35:36,576
I did.

1598
01:35:37,256 --> 01:35:38,536
Made some cutlets last night.

1599
01:35:39,476 --> 01:35:41,356
Pringle Mac, she's going to Pilates now.

1600
01:35:41,616 --> 01:35:42,136
Love you guys.

1601
01:35:42,176 --> 01:35:42,656
Merry Christmas.

1602
01:35:42,876 --> 01:35:46,116
Do you think she was waiting to go to Pilates until after we announced her shout out?

1603
01:35:46,896 --> 01:35:47,836
I'm glad we released her.

1604
01:35:47,896 --> 01:35:48,356
I hope not.

1605
01:35:48,456 --> 01:35:48,856
I hope not.

1606
01:35:48,976 --> 01:35:50,656
I hope Pilates class is punctual.

1607
01:35:50,756 --> 01:35:51,416
It starts on time.

1608
01:35:51,676 --> 01:35:52,596
She's got to get there.

1609
01:35:52,596 --> 01:35:58,836
still enjoy Pilates it's become my wife's favorite exercise I think that

1610
01:35:58,836 --> 01:36:01,836
happens like when you get to a certain age as a woman like Pilates just becomes

1611
01:36:01,836 --> 01:36:18,506
the go class of choice it what I observed not trying to say supposedly a lot of NFL players do Pilates what is going going on here I going to write into this a little bit but this is pretty crazy

1612
01:36:19,786 --> 01:36:22,826
Shooting of the MIT professor. Did you read the three body problem?

1613
01:36:22,826 --> 01:36:28,426
Yes. This is like the plot of the three body problem.

1614
01:36:29,066 --> 01:36:33,066
Yeah. Okay. So those who are unaware. Yeah.

1615
01:36:33,066 --> 01:36:34,066
Yeah.

1616
01:36:34,066 --> 01:36:39,066
The police intensified the search Wednesday for suspect in the killing of Professor Nuno

1617
01:36:39,066 --> 01:36:45,746
FG Loriero at the Massachusetts Institute of Technology, more famously known as MIT,

1618
01:36:45,746 --> 01:36:49,066
two days after he was shot to death at his home outside Boston.

1619
01:36:49,066 --> 01:36:54,506
Loriero, a 47-year-old physicist and fusion scientist, was shot Monday night at his apartment

1620
01:36:54,506 --> 01:36:56,086
in Brookline, Mass.

1621
01:36:56,086 --> 01:36:57,906
He died at a local hospital on Tuesday.

1622
01:36:57,906 --> 01:37:01,346
The Norfolk District Attorney's Office said in a statement, the prosecutor's office said

1623
01:37:01,346 --> 01:37:07,986
homicide investigation was active and ongoing as of early afternoon wednesday and had no update

1624
01:37:07,986 --> 01:37:13,826
earlier they had said no suspects were in custody the investigation in mit's professor kills

1625
01:37:13,826 --> 01:37:19,746
killing comes as brownie okay we don't have to get the brown stuff that's i um i mean i think

1626
01:37:19,746 --> 01:37:25,426
the brown stuff is unrelated incredibly up it feels like the brown stuff it was politically

1627
01:37:25,426 --> 01:37:29,826
motivated considering yeah i mean two people were killed and one of them was

1628
01:37:29,826 --> 01:37:39,346
a 19 year old vice president of republicans young republicans club yeah um but um and also i don't

1629
01:37:39,346 --> 01:37:46,786
have the australian shooting on the list which seems like a massive false flag um but uh solution

1630
01:37:46,786 --> 01:37:51,266
to that is the stricter gun controls you know and stricter hate speech rules did you see they're

1631
01:37:51,266 --> 01:37:55,026
already doing kyc on everything on the internet in australia but they needed to be even stricter

1632
01:37:55,026 --> 01:38:02,226
With this particular situation, with everything else that's going on, this has kind of gone

1633
01:38:02,226 --> 01:38:08,946
under the radar. So I wanted to highlight it. I mean, this guy was basically, you know,

1634
01:38:08,946 --> 01:38:17,986
numero uno in fusion research at MIT, like top dog MIT researcher focused on fusion tech.

1635
01:38:19,986 --> 01:38:23,586
And it's kind of interesting, right? Because it kind of goes with the hype of quantum stuff

1636
01:38:23,586 --> 01:38:29,026
that we were talking about earlier. Fusion feels like it's got so much hype behind it for years.

1637
01:38:29,826 --> 01:38:37,426
But a couple of pieces here, right? First of all, before Bitcoin existed, you didn't really have a

1638
01:38:37,426 --> 01:38:45,026
strong financial incentive for mass produced cheap energy. And now with AI and the AI data centers,

1639
01:38:45,026 --> 01:38:50,146
the big tech companies are aligned on that too. They would love to have, and the national security

1640
01:38:50,146 --> 01:38:56,326
establishment, like would love to have very cheap energy for AI compute. So there's a direct

1641
01:38:56,326 --> 01:39:02,746
incentive for it. The second piece is, oh, does LLM speed up fusion research, right? It goes along

1642
01:39:02,746 --> 01:39:09,626
with all the other hype stuff around AI and bleeding edge tech and whatnot. So I don't think

1643
01:39:09,626 --> 01:39:13,706
it's like the most far-fetched thing to think that he was on the verge of some kind of big breakthrough.

1644
01:39:14,266 --> 01:39:19,146
Do I think aliens killed him, like the three-body problem? No, probably not. But like the Israelis

1645
01:39:19,146 --> 01:39:23,286
these kill like Iranian nuclear scientists all the fucking time.

1646
01:39:23,886 --> 01:39:24,066
Yeah.

1647
01:39:24,426 --> 01:39:29,086
And there's like a million different people with motives to kill someone who,

1648
01:39:29,206 --> 01:39:29,846
you know,

1649
01:39:29,846 --> 01:39:30,966
is working on cheap,

1650
01:39:31,126 --> 01:39:31,886
scalable energy.

1651
01:39:32,386 --> 01:39:32,866
Yeah.

1652
01:39:33,766 --> 01:39:37,166
So I don't think this is like a disgraced lover type of situation.

1653
01:39:37,166 --> 01:39:37,426
Like,

1654
01:39:37,446 --> 01:39:37,986
I feel like,

1655
01:39:38,306 --> 01:39:40,246
I feel like there's probably something more here.

1656
01:39:41,246 --> 01:39:41,726
Yeah.

1657
01:39:41,766 --> 01:39:42,206
So this is,

1658
01:39:42,306 --> 01:39:42,426
I mean,

1659
01:39:42,426 --> 01:39:46,886
apparently he was on the cusp of having like the breakthrough to make this,

1660
01:39:46,886 --> 01:39:51,466
and make this text reproducible and scalable.

1661
01:39:52,046 --> 01:39:54,426
His research on magnetized plasma dynamics,

1662
01:39:54,586 --> 01:39:55,966
magnetic field amplification,

1663
01:39:56,606 --> 01:39:59,006
and confinement and transport in fusion plasmas

1664
01:39:59,006 --> 01:40:01,226
helped inform the design of fusion devices

1665
01:40:01,226 --> 01:40:03,406
that could harness the energy of fusing plasmas,

1666
01:40:03,966 --> 01:40:05,006
bringing the dream of clear,

1667
01:40:05,386 --> 01:40:06,106
or excuse me, clean,

1668
01:40:06,326 --> 01:40:10,186
near limitless fusion power closer to reality.

1669
01:40:11,746 --> 01:40:12,826
It is suspicious.

1670
01:40:14,486 --> 01:40:15,366
And I saw something else.

1671
01:40:15,566 --> 01:40:16,706
There was another MIT,

1672
01:40:16,886 --> 01:40:17,546
physicist

1673
01:40:17,546 --> 01:40:19,826
nuclear physicist

1674
01:40:19,826 --> 01:40:22,506
who was

1675
01:40:22,506 --> 01:40:23,226
assassinated

1676
01:40:23,226 --> 01:40:25,146
in the 90s

1677
01:40:25,146 --> 01:40:26,186
or early 2000s

1678
01:40:26,186 --> 01:40:26,606
as well

1679
01:40:26,606 --> 01:40:29,906
for uncovering

1680
01:40:29,906 --> 01:40:30,486
a cold fusion

1681
01:40:30,486 --> 01:40:31,006
cover up

1682
01:40:31,006 --> 01:40:32,686
by the DOE

1683
01:40:32,686 --> 01:40:34,646
they don't want you

1684
01:40:34,646 --> 01:40:35,406
to have that clean

1685
01:40:35,406 --> 01:40:36,706
cheap energy freaks

1686
01:40:36,706 --> 01:40:38,006
what was that

1687
01:40:38,006 --> 01:40:38,726
the opposite though

1688
01:40:38,726 --> 01:40:39,286
was that them

1689
01:40:39,286 --> 01:40:39,846
hyping it

1690
01:40:39,846 --> 01:40:40,386
and he was

1691
01:40:40,386 --> 01:40:41,986
exposing it

1692
01:40:41,986 --> 01:40:44,166
no they were

1693
01:40:44,166 --> 01:40:44,766
covering up that

1694
01:40:44,766 --> 01:40:45,106
they had like

1695
01:40:45,106 --> 01:40:45,846
made some breakthrough

1696
01:40:45,846 --> 01:40:52,206
yeah and he exposed okay we might actually have cold fusion the doe doesn't want you to know that

1697
01:40:52,206 --> 01:41:01,206
dead um yeah like what like what like there has to be like somebody knows that he's on the cusp of

1698
01:41:01,206 --> 01:41:06,366
the breakthrough that's going to really unleash it like why like what who's just going to walk

1699
01:41:06,366 --> 01:41:11,646
into this house and murder this guy you think he's a multi or it could have been like big oil

1700
01:41:11,646 --> 01:41:14,526
and any kind of established energy people.

1701
01:41:15,686 --> 01:41:16,426
But yeah, I mean, like, look,

1702
01:41:16,486 --> 01:41:18,086
if you like listen to the administration,

1703
01:41:18,266 --> 01:41:20,226
if you listen to David Sachs on All In Pod

1704
01:41:20,226 --> 01:41:21,546
talking about this stuff,

1705
01:41:21,666 --> 01:41:23,506
he like talks about like this Manhattan Project.

1706
01:41:24,186 --> 01:41:26,366
Like we need to have better AI than China.

1707
01:41:27,086 --> 01:41:28,806
And a huge part of that is

1708
01:41:28,806 --> 01:41:31,766
that they're kicking our ass in energy.

1709
01:41:32,606 --> 01:41:34,666
And so like imagine we have a massive breakthrough

1710
01:41:34,666 --> 01:41:37,246
that maybe isn't, you know,

1711
01:41:37,246 --> 01:41:39,406
the fusion you read about in sci-fi books.

1712
01:41:39,526 --> 01:41:40,926
Like maybe it still has trade-offs or whatever.

1713
01:41:40,926 --> 01:41:46,786
But let's just say it brings the cost of energy down in the States, 10x or something.

1714
01:41:47,226 --> 01:41:50,486
Something within reach, not super extraordinary.

1715
01:41:50,786 --> 01:41:54,166
That's a well-worthy reason to kill somebody.

1716
01:41:55,286 --> 01:41:55,306
Yeah.

1717
01:41:55,866 --> 01:41:56,666
Well, it's funny, too.

1718
01:41:56,706 --> 01:41:57,686
I mean, the stakes are high.

1719
01:41:58,246 --> 01:42:00,746
And I saw this earlier today.

1720
01:42:00,846 --> 01:42:01,466
Trigger warning.

1721
01:42:01,706 --> 01:42:04,866
About to have Logan pull up a Curtis Yarvin tweet on the show.

1722
01:42:04,966 --> 01:42:05,666
Don't freak out.

1723
01:42:06,066 --> 01:42:06,646
Don't freak out.

1724
01:42:06,646 --> 01:42:06,906
Trigger.

1725
01:42:08,286 --> 01:42:10,746
I thought this was a...

1726
01:42:10,926 --> 01:42:14,126
Pretty funny, but also like highlighting something in this vein.

1727
01:42:14,286 --> 01:42:14,906
Let me find it.

1728
01:42:15,006 --> 01:42:15,706
Did you delete it?

1729
01:42:16,986 --> 01:42:17,346
Oh, no.

1730
01:42:17,386 --> 01:42:17,766
Here it is.

1731
01:42:18,446 --> 01:42:21,286
I'm not sure if you saw this, but China.

1732
01:42:22,486 --> 01:42:22,966
China.

1733
01:42:24,026 --> 01:42:24,466
China.

1734
01:42:25,286 --> 01:42:32,326
Well, I see Bill Monroe saying it was someone was claiming it was the Iranians retaliating for the Israelis, assassinating their scientists.

1735
01:42:32,666 --> 01:42:34,446
I think that was the Israelis who claimed that.

1736
01:42:35,006 --> 01:42:38,046
Which, by the way, it could easily be the Israelis who killed them as well.

1737
01:42:38,046 --> 01:42:38,786
Like, I don't.

1738
01:42:39,106 --> 01:42:40,526
Like, you should take that one with a great assault.

1739
01:42:40,926 --> 01:42:45,986
Another grain of salt, not an expert in this field, but this is being reported today.

1740
01:42:46,126 --> 01:42:51,086
China apparently has a working prototype of an EUV lithography machine.

1741
01:42:52,206 --> 01:42:55,166
It was a secret lab in Shenzhen, team of former ASML engineers.

1742
01:42:55,426 --> 01:42:56,326
I think that's the important part.

1743
01:42:56,406 --> 01:42:58,526
We're going to go back to the quote tweet, reverse engineered parts.

1744
01:42:59,006 --> 01:43:04,286
You have to produce working chips, deep involvement in Huawei, aiming for use by 2028, 2030.

1745
01:43:04,286 --> 01:43:06,486
there was

1746
01:43:06,486 --> 01:43:09,146
Curtis Yarvin said

1747
01:43:09,146 --> 01:43:11,266
obviously it would be very racist to suggest

1748
01:43:11,266 --> 01:43:13,066
that when EUV light sources

1749
01:43:13,066 --> 01:43:15,146
are one of our last three technical advantages

1750
01:43:15,146 --> 01:43:16,986
over China, hiring Lin Nan

1751
01:43:16,986 --> 01:43:19,146
as head of light sources might not be the

1752
01:43:19,146 --> 01:43:20,366
greatest idea. So apparently

1753
01:43:20,366 --> 01:43:23,026
a classic case of Chinese IP

1754
01:43:23,026 --> 01:43:25,006
theft and espionage.

1755
01:43:25,566 --> 01:43:27,086
Recruits included Lin Nan

1756
01:43:27,086 --> 01:43:29,046
ASML's former head of

1757
01:43:29,046 --> 01:43:31,166
light source technology whose team

1758
01:43:31,166 --> 01:43:33,006
at the Chinese Academy of Sciences Shanghai

1759
01:43:33,006 --> 01:43:40,686
institute so they're making these breakthroughs apparently eub lithography is one of our um sort

1760
01:43:40,686 --> 01:43:47,006
of key advantages technological advantages and asml was just hiring chinese scientists to build this

1761
01:43:47,006 --> 01:43:50,366
or work on this stuff and they up and left and brought it to china

1762
01:43:54,286 --> 01:44:01,086
china why can't we all just get along come on come on people you sound like a

1763
01:44:01,086 --> 01:44:04,006
a naive pageant.

1764
01:44:04,006 --> 01:44:05,126
Hey, everybody.

1765
01:44:05,906 --> 01:44:07,006
Hi, I'm Marty Batten.

1766
01:44:07,086 --> 01:44:08,286
I believe in world peace.

1767
01:44:09,006 --> 01:44:10,566
I know we have a global audience out there.

1768
01:44:10,646 --> 01:44:11,646
Why are we doing this stuff?

1769
01:44:12,166 --> 01:44:14,006
It's like, Marty, shut up and shake your ass.

1770
01:44:14,506 --> 01:44:15,366
Why are we doing this?

1771
01:44:17,946 --> 01:44:19,546
It's also tiresome.

1772
01:44:20,426 --> 01:44:21,826
Is this purgatory?

1773
01:44:21,966 --> 01:44:23,106
Is this what purgatory is like?

1774
01:44:23,186 --> 01:44:27,246
We're just constantly thrown into the 24-7 news cycle,

1775
01:44:27,346 --> 01:44:29,266
thinking about PSYOP after PSYOP.

1776
01:44:29,266 --> 01:44:32,486
is Bitcoin going to $444,444?

1777
01:44:32,846 --> 01:44:34,786
Are we ever going to see this?

1778
01:44:34,786 --> 01:44:38,266
Oh, I think I told Marty already,

1779
01:44:38,466 --> 01:44:40,186
but I, the other day,

1780
01:44:40,246 --> 01:44:42,486
I did tell Marty on a 1031 call.

1781
01:44:43,826 --> 01:44:46,066
The other day we were eating breakfast

1782
01:44:46,066 --> 01:44:47,546
and I asked my oldest,

1783
01:44:48,026 --> 01:44:48,826
Bitcoin or gold?

1784
01:44:48,906 --> 01:44:50,006
And he turns to me and he goes,

1785
01:44:50,146 --> 01:44:50,866
gold is better.

1786
01:44:58,486 --> 01:44:58,966
Damn.

1787
01:44:59,266 --> 01:45:00,146
All right.

1788
01:45:00,826 --> 01:45:01,686
We got a zap.

1789
01:45:02,906 --> 01:45:04,906
From KD Kangaroo.

1790
01:45:05,846 --> 01:45:07,886
30,003 sats, palindrome boost.

1791
01:45:08,046 --> 01:45:09,926
First time checking live, catching live.

1792
01:45:10,066 --> 01:45:10,986
Appreciate you bastards.

1793
01:45:12,826 --> 01:45:13,626
He's probably Australian.

1794
01:45:14,146 --> 01:45:16,086
See, I try to do Australia and then I go Boston.

1795
01:45:17,066 --> 01:45:17,326
Yeah.

1796
01:45:18,126 --> 01:45:19,846
It's a trash London.

1797
01:45:20,086 --> 01:45:20,346
Accents.

1798
01:45:21,346 --> 01:45:23,786
Accents are my strong suit.

1799
01:45:24,426 --> 01:45:24,886
What is it?

1800
01:45:24,946 --> 01:45:25,626
Rise of lights.

1801
01:45:26,906 --> 01:45:27,506
Rise of lights.

1802
01:45:27,506 --> 01:45:38,886
uh fosters um i australian for beer i uh i just want to shout out it looks like he's gone now

1803
01:45:38,886 --> 01:45:45,066
but um there's like the most civil argument happening in our youtube chat

1804
01:45:45,066 --> 01:45:51,546
but that's christ is lord guy between him and bitcoiners arguing about if the government was

1805
01:45:51,546 --> 01:45:55,886
going to seize our bitcoin and then he just ends it with just kidding bro i'm wrong on all this

1806
01:45:55,886 --> 01:45:59,686
stuff i'm gonna go hike the dog and get to the gym y'all take care god bless and get to mass

1807
01:45:59,686 --> 01:46:06,546
this weekend and i just it's just great that it's just yeah it ended so simply so rare today's age

1808
01:46:06,546 --> 01:46:15,126
yeah david sacks has been a massive disappointment he let sdny sell the samurai bitcoin right out

1809
01:46:15,126 --> 01:46:20,306
from under his nose did he when he's on the blockchain he did which according to the executive

1810
01:46:20,306 --> 01:46:24,286
order was not supposed to happen so that is in support of nation by the southern district how do

1811
01:46:24,286 --> 01:46:31,586
we know that we we we can see it on chain or uh keoni he came on my show and said that's what they

1812
01:46:31,586 --> 01:46:41,606
did oh shit well they should have burnt it but we should have sold it all sees bitcoin should be

1813
01:46:41,606 --> 01:46:44,666
burned all right what are we gonna do for this christmas episode we're getting dressed we should

1814
01:46:44,666 --> 01:46:51,206
just we should just send it anytime bitcoin is seized we should as a government we should send

1815
01:46:51,206 --> 01:46:57,286
it to Satoshi's addresses so that if quantum happens, then it's just the winner gets the coin.

1816
01:46:59,286 --> 01:47:07,006
I like that. What are these quantum hackers going to do? Should we just be spending all

1817
01:47:07,006 --> 01:47:11,026
of our time trying to create a quantum computer to hack Satoshi's coins? Because we could get it.

1818
01:47:11,826 --> 01:47:15,786
Maybe we should just put the argument out. Expect that it's going to happen. Satoshi's coins are

1819
01:47:15,786 --> 01:47:19,866
going to move. They're going to get sold. Don't do anything about it. And all the while, it's us

1820
01:47:19,866 --> 01:47:25,786
building the quads computer to get satoshi's quads what i thought would be fun is imagine

1821
01:47:27,226 --> 01:47:33,546
so like jameson and sailor get their wish and they they do a hard fork and they say that you

1822
01:47:33,546 --> 01:47:40,266
know the old addresses can't spend anymore and then satoshi like is just sitting there just like

1823
01:47:40,266 --> 01:47:45,306
laughing or whatever and he just like sends multiple transactions where all the money goes

1824
01:47:45,306 --> 01:47:50,486
to the miners, just like incentivizing just pure chaos.

1825
01:47:50,966 --> 01:47:52,586
That would be kind of a fun outcome.

1826
01:47:53,586 --> 01:47:53,906
It would be.

1827
01:47:54,866 --> 01:47:59,466
They would literally have a trigger at any point where any of the old addresses could

1828
01:47:59,466 --> 01:48:05,366
just send huge mining fees to encourage miners to mine that chain instead.

1829
01:48:08,566 --> 01:48:09,906
The beautiful dynamics.

1830
01:48:10,126 --> 01:48:12,586
I mean, this is to be expected.

1831
01:48:12,586 --> 01:48:19,986
rough consensus distributed systems nobody's going to agree that's the other thought i was

1832
01:48:19,986 --> 01:48:25,946
having with it it's just such a dumb rabbit hole but whatever you got to keep yourself busy

1833
01:48:25,946 --> 01:48:34,406
um if we did a saw fork and we added quantum resistant addresses so not the freezing part

1834
01:48:34,406 --> 01:48:38,146
we're not freezing old old addresses we just add quantum resistant address type

1835
01:48:38,146 --> 01:48:42,606
and then satoshi's coins move and they get sent to a quantum resistant address

1836
01:48:42,606 --> 01:48:49,846
do people panic is that a good thing do they what was this was his coin stolen

1837
01:48:49,846 --> 01:48:56,066
or was he just upgrading yeah is he going to sell on the market

1838
01:48:56,066 --> 01:49:01,526
kind of crazy things to think about yeah

1839
01:49:01,526 --> 01:49:09,386
all right let's go enjoy our christmas week yeah seven days till christmas we're gonna have a

1840
01:49:09,386 --> 01:49:15,986
downward difficulty adjustment santa is bringing uh better mining conditions for miners that are

1841
01:49:15,986 --> 01:49:19,506
plugged in on christmas as of right now who knows after he could scream on the network

1842
01:49:19,506 --> 01:49:24,706
it'd fall off it'd be an even better christmas we'll find out maybe there'll be a christmas miracle

1843
01:49:24,706 --> 01:49:28,466
and we'll see you guys

1844
01:49:28,466 --> 01:49:29,906
we'll see you guys on Boxing Day

1845
01:49:29,906 --> 01:49:31,686
see you on Boxing Day

1846
01:49:31,686 --> 01:49:32,486
Omega Candle

1847
01:49:32,486 --> 01:49:33,086
en route

1848
01:49:33,086 --> 01:49:33,566
prepare

1849
01:49:33,566 --> 01:49:37,066
fade

1850
01:49:37,066 --> 01:49:38,326
fade the Omega Candle

1851
01:49:38,326 --> 01:49:39,386
stay on the stack sides

1852
01:49:39,386 --> 01:49:40,226
peace

1853
01:49:40,226 --> 01:49:40,966
love freaks