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

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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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In our life.

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This is our regularly scheduled time to do the podcast.

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1 p.m. Central.

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12 p.m. East Coast on a Thursday.

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I think you got that around.

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Oh, no, yeah.

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It's not our regular time.

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Oh, we're an hour early.

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Yeah.

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Two hours early.

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No, we're usually...

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We're usually 1 p.m. Central.

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It is 11 Central right now.

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It's 11.17.

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Oh, yeah, fair enough.

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We had to come up with a good clickbait thumbnail.

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to draw all your freaks in.

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Can we stop doing the clickbait?

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I don't know.

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I like it.

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It's fun.

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It's a fun mental experience.

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I guess it's only for the YouTube people.

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If you're sick of the clickbait,

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join us on Primal.

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Download Primal on your favorite app.

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Did you see YouTube said

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they were going to stop censoring

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and anyone who they cut off during COVID,

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they were going to allow back on.

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And then Fuentes and Alex Jones

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both joined and got like over 100,000 followers

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without any videos and they immediately banned them.

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Yep, I saw that.

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And then they just came out.

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Hey, we're easing the rollout of the repeal

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of the censorship that we embarked on.

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Is that what they said?

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Did they actually come out with that?

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What the hell does that even mean?

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I don't know.

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It's a way to save face.

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Let me see if I can find it here.

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But yeah, crazy week.

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crazy week a lot going on crazy week as it pertains to censorship in the world we'll get to it um

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but yeah youtube basically admitting google admits censorship under biden promises to end

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bans of youtube accounts of thousands of americans censored for political speech

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another cop out by the big tech firms the biden administration pressured google to censor americans

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and to remove content that did not violate YouTube's policies.

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The Biden administration's censorship pressure was unacceptable and wrong.

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Public debate should never come at the expense of relying on authorities.

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The company will never use third-party fact-checkers.

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Again, Europe's censorship laws target American companies

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and threaten American speech, including the removal of lawful content.

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My guess is – I guess supposedly there was a subpoena involved in this,

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but my guess is the real reason is that last piece is uh they they went to trump and they

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were like you need to protect us from the europeans he's like you need to blame biden for what you did

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i mean it was definitely the biden administration involvement like there was truth to it but they

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were like you must release a statement that explicitly blames biden yeah and then we will

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then we will back you yeah part four the company will never use third-party fact checkers

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this channel if you're watching on YouTube

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we got put on a list of one of those fact checkers

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the Center for Countering Digital

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Hate

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our hateful content

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was

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in relation to climate change

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the Center for Countering Digital Hate

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did not like that we were

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I remember that

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talking against the climate change narrative

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crazy times

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don't trust, verify

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that you have

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unfettered open access

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to the communications protocols and platforms that you interact with.

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This is why we're very big advocates of Nostr

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and are moving more and more of our digital social media lives to Nostr.

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Where now we can see, shout out to the Primal team,

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they fixed the UI bug on Firefox browser for the TopZap.

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TopZap 21,000 sats from Zoomer Seth,

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how we feel in freaks hitting the flow state on the extended returns.

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that's a

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reference to

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accounting work

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yes

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final extension

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thank you

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thank you for our service

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best accountants in the game

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yeah

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um

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all right let's jump into the dashboard

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should have made that bet

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I mean if

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if we had the bet last a full week

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I would have won

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if it was the first day

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yeah I mean we both

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we both kind of won

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yeah

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we didn't we didn't um yeah it would have come down to timeline because we pumped and then dumped

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degen traders just got wrecked in both directions as is tradition yes

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the nostril live chat is fucking popping right now love to see it so minor this is why we nostril

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That is right, sir.

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So last week, we met right before the FOMC meeting.

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Jerome Powell cut by 25 bps.

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There's been economic data.

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The bet that we had is what was the price of Bitcoin going to be last Friday.

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I said it would probably dump to around 113.

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Matt said we're going to rip.

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We did rip temporarily.

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But now, according to Clark's dashboard, we're sitting at 111,540 cuck bucks.

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And more importantly, Matt said he was willing to put money on it, and Marty bailed out on that.

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You know, you've been in this market long enough, you know you can't time it.

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It's time in the market.

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I had a feeling it was going to dump.

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Sats are on sale, 898 sats per cuck buck.

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We're at a $2.22 trillion market cap.

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We are at block height.

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Where are you?

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916,345, which means we had a difficulty adjustment.

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No, we didn't.

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which means we have a difficulty adjustment in 935 blocks or October 1st.

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So that should happen between this rip and next week's episode.

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As of right now, it's looking like an upwards adjustment of 6.3%.

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Blocks are coming in at nine minutes and 25 seconds on average.

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Just to stop here and comment on this, I believe last week

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when we were talking about the sort of consecutive increases

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and difficulty adjustment and hash rate being over Zeta Hash,

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we referenced Heather and their influence on the mining market specifically.

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But I think after being at the Imagine If conference last week in Nashville

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and talked to a bunch of miners, there could be another influence as well.

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First, shout out to Rod, Matt, everybody at Bitcoin Park,

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Kathy Wood, everybody at ARK Investment.

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It was an incredible weekend in Nashville.

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I do too.

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The fact that the proximity of my birth,

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of the birth of my third child,

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I was only going to make it for Imagine If,

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so I didn't get to the custody summit.

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But the two days I spent, Friday and Saturday,

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were incredible.

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Bang up job.

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My rod and team.

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But, no, go ahead.

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No, vibes are high.

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Vibes are very high.

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Four days of great people and great content.

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Yeah.

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As it pertains to hash rate, and when we referenced Tether last week, I think we mentioned they may be sort of a player that's not really worried about economics.

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They just want to expand hash rate and really lean into it and I guess get rid of some of their cash.

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There could be another similar actor in the market where with the big, beautiful bill and the ability to depreciate the ASICs 100%, it seems like there are a bunch of people who have come into a bunch of wealth by either selling a company or having a monetization event that want to sort of reap the benefits of that depreciation for tax loss harvesting purposes.

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And it seems like a bunch of people in that position are buying ASICs and plugging them in.

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for sort of tax arbitrage play.

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So I think that could be influencing

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hash rate as well right now.

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And then, I mean, you have the opposite side

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of the equation, which is like,

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it seems to be the trend that with the big miners,

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they're going more and more into AI compute.

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Matt, I see you have one earbud in.

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How close is the other one to your mic?

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Why? What do you hear?

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Because I keep hearing stuff out of your,

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through your mic.

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out of your earbud.

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Do you hear my side?

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How about now?

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Test test.

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I got to talk.

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I got to talk.

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Yeah, I'm still here.

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That's weird.

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Or you are just on earbud mics.

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I'm just on a single earbud.

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Do you still hear it?

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Well, we have to talk.

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I think it's going away.

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Yeah, it went away.

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It went away.

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We're good now.

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Not really.

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I'll just turn this down and fix it.

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I lowered my podcast people.

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I lowered my ear volume.

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It should work.

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Long story short,

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hash rate continues.

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I'm moving my mic to the other side too.

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Do you hear Marty's echo now?

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Do we sound good now?

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Well,

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I had to talk for you to hear it and we'll test it out by going to Clark's.

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Sounds good.

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Mempool.space,

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144,430 unconfirmed transactions and mempools mempool.

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We have two unfilled blocks in the last three.

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If we look at hash rate, are we still above a Zeta hash?

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Yes, moving up 1.08 Zeta hash per second over the last week.

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Again, one six trillion hashes per second being produced.

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More than that on the Bitcoin network right now.

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That is the state of the network.

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Price down.

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See you.

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MAP21 zapped us 21,000 cents.

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Said let's rip.

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McCoy's app does 22,000 sets

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all caps the all in pod

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that's what I named this episode

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the non clickbait name

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to everyone else

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yeah if you want to join us in the

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ride or die live chat

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00:12:58,500 --> 00:13:01,220
go to zap.stream or download

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00:13:01,220 --> 00:13:03,320
Primal in your favorite app store

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00:13:03,320 --> 00:13:04,420
go to primal.net

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00:13:04,420 --> 00:13:06,580
check it out

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Check it out. All right, getting to the list. Matt's got something to get to in 90 minutes, so let's make sure.

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We cover everything. Like I said, it's been a big week, but we're going to start with some announcements.

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The Plan B conference is in Luongo towards the tail end, or not the tail end, but the back half of October.

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and there is

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CypherTank. We were making fun of Scaramucci

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and others for doing a Shark Tank

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show

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with crypto companies.

252
00:13:37,260 --> 00:13:38,800
It convinced me that this is no different.

253
00:13:41,620 --> 00:13:45,120
I mean, first of all,

254
00:13:45,160 --> 00:13:45,900
it's in Lugano

255
00:13:45,900 --> 00:13:49,420
during the Plan B conference.

256
00:13:50,260 --> 00:13:51,000
I think

257
00:13:51,000 --> 00:13:53,320
the key difference is it's not for shitcoin

258
00:13:53,320 --> 00:13:53,880
companies.

259
00:13:54,960 --> 00:13:56,940
It's for either Bitcoin startups

260
00:13:56,940 --> 00:13:58,880
or open source projects.

261
00:13:59,820 --> 00:14:02,760
There'll be $850,000 worth of prizes.

262
00:14:04,100 --> 00:14:06,260
So like the top pitches

263
00:14:06,260 --> 00:14:08,420
are going to get a significant amount of money

264
00:14:08,420 --> 00:14:10,800
regardless of any external investment.

265
00:14:12,080 --> 00:14:14,360
It's been being run by the Plan B team

266
00:14:14,360 --> 00:14:16,760
and I'm going to be one of the judges.

267
00:14:17,520 --> 00:14:19,320
So applications are open.

268
00:14:20,620 --> 00:14:22,480
If you go to the, it is a Google Doc.

269
00:14:23,460 --> 00:14:25,540
So be advised.

270
00:14:26,940 --> 00:14:29,740
but if you're interested, you should apply.

271
00:14:30,740 --> 00:14:31,420
It should be a good time.

272
00:14:34,140 --> 00:14:34,800
Check it out.

273
00:14:35,060 --> 00:14:35,580
Get to Lugano.

274
00:14:36,360 --> 00:14:37,000
Get to Switzerland.

275
00:14:37,140 --> 00:14:37,840
I hear it's beautiful,

276
00:14:38,140 --> 00:14:41,160
and you should travel to Europe as much as you can.

277
00:14:41,960 --> 00:14:45,160
Well, things are still relatively put together there.

278
00:14:46,220 --> 00:14:48,840
Yeah, I mean, I think it's going to be a great event in general,

279
00:14:49,260 --> 00:14:51,800
and this will just be one sub-event

280
00:14:51,800 --> 00:14:55,220
within the larger Plan B week that they're hosting over there.

281
00:14:55,220 --> 00:14:58,020
it's Tether's

282
00:14:58,020 --> 00:14:59,840
big annual event

283
00:14:59,840 --> 00:15:01,400
and I've only heard good things

284
00:15:01,400 --> 00:15:03,400
it'll be the first time I actually attend

285
00:15:03,400 --> 00:15:04,160
participate

286
00:15:04,160 --> 00:15:07,200
I actually didn't have that on the list

287
00:15:07,200 --> 00:15:08,600
rumor is

288
00:15:08,600 --> 00:15:11,460
that Tether is raising

289
00:15:11,460 --> 00:15:13,180
at a $500 billion valuation

290
00:15:13,180 --> 00:15:14,960
which would make them

291
00:15:14,960 --> 00:15:17,280
the most profitable

292
00:15:17,280 --> 00:15:18,880
private company in the world tied

293
00:15:18,880 --> 00:15:19,920
with OpenAI

294
00:15:19,920 --> 00:15:23,380
there's like a handful of public

295
00:15:23,380 --> 00:15:24,940
companies that are worth more than that

296
00:15:24,940 --> 00:15:27,400
Yeah, that's pretty crazy.

297
00:15:27,400 --> 00:15:28,900
Clear distinction here.

298
00:15:28,900 --> 00:15:31,120
Most valuable private company.

299
00:15:31,120 --> 00:15:41,944
They certainly the most profitable because it open AI Yeah Thinks profit Yeah no they you know they probably by they probably one of the most profitable companies in the world

300
00:15:42,064 --> 00:15:43,384
I haven't crunched the actual number.

301
00:15:44,844 --> 00:15:48,664
But by headcount, they absolutely blow away everybody else too.

302
00:15:48,744 --> 00:15:49,764
It's like 75 people.

303
00:15:52,524 --> 00:15:58,424
And I would actually say they're probably worth more than that,

304
00:15:58,484 --> 00:15:59,924
and they probably don't need to raise money.

305
00:15:59,924 --> 00:16:12,704
And my guess is the goal here is to bring on some strategic people, give them a slice of the moneymaker, and then that way that they're aligned with them going forward.

306
00:16:12,984 --> 00:16:20,784
You know, like get the soft banks of the world involved so that they're aligned with Tether's interests.

307
00:16:22,904 --> 00:16:29,504
Yeah, well, I'm not sure if you saw it, but Finnex was out there yesterday after this rumor was announced by Watcher Guru.

308
00:16:29,924 --> 00:16:33,724
Apparently, they need $20 billion to fill the hole in their treasury.

309
00:16:33,724 --> 00:16:36,284
Pour one out for Bitfinex.

310
00:16:36,804 --> 00:16:44,404
He told us all around $900 Bitcoin to sell our Bitcoin because Tether was going to fail and crash the entire Bitcoin market.

311
00:16:45,564 --> 00:16:51,504
And meanwhile, so that was seven years ago or eight years ago.

312
00:16:51,824 --> 00:16:56,884
And then meanwhile, Tether now is making $20 plus billion a year.

313
00:16:56,884 --> 00:17:00,544
one of the most profitable companies in the world, raising at $500 billion.

314
00:17:01,064 --> 00:17:04,364
Bitcoin is at $111,000.

315
00:17:05,424 --> 00:17:10,624
So 111 times increase from when he first made his proclamation,

316
00:17:10,824 --> 00:17:11,604
sold all his Bitcoin.

317
00:17:12,624 --> 00:17:16,684
And then meanwhile, he's still doubling down on it.

318
00:17:16,964 --> 00:17:18,624
He's still digging his heels in.

319
00:17:18,904 --> 00:17:25,484
So I think there's just a lesson there, I think, for people.

320
00:17:25,484 --> 00:17:28,904
that every cycle has its share of FUD.

321
00:17:29,164 --> 00:17:32,144
And sometimes it rhymes, sometimes it's different.

322
00:17:32,404 --> 00:17:36,684
But the best course of action is to stay on one's to accessible.

323
00:17:37,684 --> 00:17:40,204
Yeah, they need 20 billion to fill the hole.

324
00:17:40,824 --> 00:17:42,744
It is impressive what they're doing.

325
00:17:42,744 --> 00:17:46,944
And while we're on the subject of stable coins,

326
00:17:47,364 --> 00:17:49,784
Tether raising a $500 billion valuation,

327
00:17:50,024 --> 00:17:53,104
which to your point, I think it does make sense

328
00:17:53,104 --> 00:17:54,744
considering how profitable they are.

329
00:17:54,744 --> 00:18:17,704
And how much of a focus the foray into stablecoin seems to be for the Trump administration. I think that's only going to be a tailwind for Tether, whether or not that's a tailwind for freedom and digital bearer instruments and privacy and autonomy is another question.

330
00:18:17,704 --> 00:18:24,204
But I think just being objective, Heather is an extremely successful company.

331
00:18:24,524 --> 00:18:31,264
But while we're on the subject of stablecoins, this is breaking Circle, breaking according to Coindesk.

332
00:18:31,324 --> 00:18:32,504
I don't really think it's breaking news.

333
00:18:33,844 --> 00:18:38,444
Dispect of this, Circle is considering reversible USDC stablecoin transactions.

334
00:18:38,724 --> 00:18:46,864
Circle president Keith Tarbert notes allowing refunds in certain cases of fraud would help the stablecoin industry's push to become part of the financial mainstream.

335
00:18:47,704 --> 00:19:00,124
Yeah, I mean, the problem with all quote unquote stable coins, which I prefer to call them USD tokens, is they rely on trusted third party, right?

336
00:19:00,164 --> 00:19:12,604
There's a trusted third party, whether that's Tether or Circle, that is holding the backing for the dollars, usually in treasuries.

337
00:19:13,184 --> 00:19:15,424
And they're in charge of the chain, right?

338
00:19:15,424 --> 00:19:24,784
So they can censor you, they can seize your money, they can freeze your account, and they can either do that unilaterally or they can be pressured by governments to do that.

339
00:19:25,684 --> 00:19:30,964
So both Circle and Tether already have this functionality and have done it in the past.

340
00:19:31,964 --> 00:19:39,904
Now, my guess is, I mean, this is like Circle packaging it up as a product, right?

341
00:19:39,904 --> 00:19:51,444
But like if you rob – before this announcement, like if you robbed $10 million of USDC from an exchange or something, like they were going to reverse that transaction.

342
00:19:52,004 --> 00:19:54,544
But now like they'll probably put it in an API or some shit.

343
00:19:55,984 --> 00:19:56,164
Yeah.

344
00:19:56,724 --> 00:20:00,284
And can they actually technically reverse it or do they just sort of dead man?

345
00:20:00,364 --> 00:20:03,164
Send it to – or they can just send it to a new address.

346
00:20:03,924 --> 00:20:07,844
Well, can they – my question is do they actually have control over the wallet?

347
00:20:07,844 --> 00:20:11,944
No, they probably freeze and replace is probably what happens in practice.

348
00:20:12,504 --> 00:20:12,664
Yeah.

349
00:20:13,504 --> 00:20:15,484
Because you still have the private keys.

350
00:20:16,744 --> 00:20:22,404
They could probably like force some, but that's just overcomplicating it for no reason.

351
00:20:22,504 --> 00:20:24,064
They probably will just freeze and replace.

352
00:20:24,204 --> 00:20:25,424
That's what they have done historically.

353
00:20:26,924 --> 00:20:27,944
That's the trust model.

354
00:20:28,004 --> 00:20:30,384
The trust model is you're relying completely on the operator.

355
00:20:30,384 --> 00:20:38,664
uh look i i understand particularly in the developing world why there's demand

356
00:20:38,664 --> 00:20:45,624
for these things um where you can't get dollars from other traditional means and

357
00:20:45,624 --> 00:20:50,944
people really want dollars in terms of fiat currencies the dollar is still the king at

358
00:20:50,944 --> 00:21:01,984
least for now um particularly i have no use for them and i uh uh i like bitcoin is my stable coin

359
00:21:01,984 --> 00:21:13,824
i'd rather use bitcoin i will say that uh it does seem like tether realizes this as well that it's

360
00:21:13,824 --> 00:21:18,704
a short-term game which i don't think circle realizes this and also i think circle has basically

361
00:21:18,704 --> 00:21:20,684
no market and Tether is absolutely dominating.

362
00:21:21,404 --> 00:21:25,224
But Tether has been stacking with profits, a lot of gold and a lot of Bitcoin.

363
00:21:26,964 --> 00:21:34,144
And they're doing a lot of funding in AI stuff and communications and Bitcoin mining.

364
00:21:37,644 --> 00:21:45,224
So they could turn into a massive force of good in the world when there isn't that many

365
00:21:45,224 --> 00:21:48,824
big allocators that are focused on those key issues.

366
00:21:50,004 --> 00:21:52,244
So I'm definitely very grateful for that.

367
00:21:56,064 --> 00:21:57,384
I am as well.

368
00:21:58,424 --> 00:22:06,664
Getting commentary from the TFTC team that the YouTube live chat or live stream may have

369
00:22:06,664 --> 00:22:07,064
gone down.

370
00:22:07,464 --> 00:22:08,264
Logan, can you check that?

371
00:22:09,884 --> 00:22:14,784
I'm still seeing, I'm seeing comments come in, unless those comments are coming in from

372
00:22:14,784 --> 00:22:21,724
max i see million zap does 42 000 sats the all-in guys have nothing on you except a few billion

373
00:22:21,724 --> 00:22:26,104
you know what money doesn't make the man money doesn't make the man million

374
00:22:26,104 --> 00:22:33,584
you know we're humble enough here we're humble enough i see john armald asking if anyone tried

375
00:22:33,584 --> 00:22:41,264
turning the cattle bike on and off again actually did i i just unplugged my uh my block clock micro

376
00:22:41,264 --> 00:22:42,264
and plugged it back in.

377
00:22:42,324 --> 00:22:43,864
I think that's what you need to do.

378
00:22:43,964 --> 00:22:46,024
Everybody go do that right now if you have one.

379
00:22:46,524 --> 00:22:47,604
Unplug it, plug it back in.

380
00:22:47,984 --> 00:22:48,904
I'm not going to do that.

381
00:22:49,484 --> 00:22:49,764
Okay.

382
00:22:50,704 --> 00:22:51,884
I have it right in front of me.

383
00:22:55,344 --> 00:22:58,304
I completely agree with your comments on Tether,

384
00:22:58,424 --> 00:23:01,484
particularly as it pertains to how they've used stable coins.

385
00:23:02,104 --> 00:23:03,684
Again, they stumbled into it.

386
00:23:03,804 --> 00:23:04,764
Didn't think it was going to be big.

387
00:23:04,984 --> 00:23:05,784
Turned out to be massive.

388
00:23:06,104 --> 00:23:08,424
Leaning into it, making a ton of profit off of it.

389
00:23:08,424 --> 00:23:16,124
and if the rumors of this raise raising 20 billion at a 500 billion dollar valuation are true

390
00:23:16,124 --> 00:23:19,764
like i could see them taking that 20 bill and just aping it right in the bitcoin

391
00:23:19,764 --> 00:23:26,704
and building the uh building their rather large treasury even yeah i assume i assume that's what

392
00:23:26,704 --> 00:23:31,104
they would do is that at least in the short term while they figure out what to do with it might as

393
00:23:31,104 --> 00:23:41,264
well. Like I said, they definitely do not need the money. But it makes it like it lines up,

394
00:23:41,264 --> 00:23:47,944
like they're, their biggest risk historically has been regulatory, they've had a massive five years

395
00:23:47,944 --> 00:23:56,244
in terms of profit and growth. And now the regulatory regime is in their favor. And it's,

396
00:23:56,244 --> 00:24:21,384
They want to cement it. They want to cement it with big money investors that will be along for the ride with them and be financially incentivized to make sure that if a new administration comes in, I mean, unless Trump runs for a third term, a new administration will come in, but a hostile administration comes in to protect themselves from it. Makes sense to me.

397
00:24:22,444 --> 00:24:23,864
Do you think Trump runs for a third term?

398
00:24:23,864 --> 00:24:26,844
No, I don't think so

399
00:24:26,844 --> 00:24:29,064
I think he's too old

400
00:24:29,064 --> 00:24:30,724
I think he was younger, he should try

401
00:24:30,724 --> 00:24:33,044
Yeah, probably too

402
00:24:33,044 --> 00:24:35,764
I mean, even if he does

403
00:24:35,764 --> 00:24:37,624
He doesn't have that many years left

404
00:24:37,624 --> 00:24:40,004
That shit ages you so fast

405
00:24:40,004 --> 00:24:42,584
It really does

406
00:24:42,584 --> 00:24:43,884
Look at

407
00:24:43,884 --> 00:24:45,184
You know what?

408
00:24:45,504 --> 00:24:47,724
Millian's saying the All-In guys have nothing on you except a few, Bill

409
00:24:47,724 --> 00:24:49,764
You know what? The All-In guys don't have what we have

410
00:24:49,764 --> 00:24:51,164
Here in Zapp

411
00:24:51,164 --> 00:24:52,084
In Noster

412
00:24:52,084 --> 00:24:53,684
We got drop-in

413
00:24:53,864 --> 00:24:57,264
21,000 sat zaps.

414
00:24:57,604 --> 00:24:59,184
Just drop it in to zap some zaps.

415
00:24:59,404 --> 00:25:00,644
I'll catch up on the pod later.

416
00:25:00,864 --> 00:25:02,404
Just saw that we were alive, came in and said,

417
00:25:02,484 --> 00:25:04,304
hey, appreciate the show.

418
00:25:04,384 --> 00:25:04,924
Here's a zap.

419
00:25:05,304 --> 00:25:06,524
Gunson, shout out to you.

420
00:25:08,204 --> 00:25:09,584
I don't even see that one.

421
00:25:10,524 --> 00:25:11,464
But thank you, sir.

422
00:25:12,304 --> 00:25:12,984
Thank you, Gunson.

423
00:25:16,044 --> 00:25:17,344
All right, back to the list.

424
00:25:20,444 --> 00:25:23,004
This was interesting, but somewhat predictable, I would say.

425
00:25:23,004 --> 00:25:30,104
tangum hardware wallet cracked by ledger so for anybody who's unaware ledger has an internal team

426
00:25:30,104 --> 00:25:36,064
of security engineers that are paid to attack every other hardware wallet and i assume the ledger

427
00:25:36,064 --> 00:25:42,924
wallet as well and when they successfully attack a wallet they or successfully get into a wallet

428
00:25:42,924 --> 00:25:48,584
they disclose their findings and that happened earlier this week with the tangum wallet which

429
00:25:48,584 --> 00:25:56,064
is one of those card form factor wallets i don't think my guess is if they successfully break the

430
00:25:56,064 --> 00:26:01,624
ledger they don't disclose that in a big tweet thread though that's true they probably just

431
00:26:01,624 --> 00:26:09,524
quietly fix it but yet i i believe it's pronounced tangum tangum frigate but anyway like there's so

432
00:26:09,524 --> 00:26:15,864
many shitty hardware wallets out there guys and uh we're not going to cover all of them being shitty

433
00:26:15,864 --> 00:26:22,244
but supposedly this one has a decent amount of adoption a lot of people are using it i i kind

434
00:26:22,244 --> 00:26:27,644
of had a blind spot to it i didn't really know it existed um the other one that was out there

435
00:26:27,644 --> 00:26:32,884
sponsoring conferences oh well they gave it to every one of the bitcoin conference i don't

436
00:26:32,884 --> 00:26:38,884
remember that was another shit one um but the same form factor right like this card form factor no

437
00:26:38,884 --> 00:26:46,244
screen first and foremost uh so basically this attack allowed that they like got around the

438
00:26:46,244 --> 00:26:52,184
mechanism that prevents you from brute forcing the pin um so someone can just computerize brute

439
00:26:52,184 --> 00:26:56,844
force the pin and just make tons and tons of pin guesses a good hardware wallet stops you from

440
00:26:56,844 --> 00:27:03,464
doing that like hardware uh cold card for instance stops you at 13 wrong at 13 wrong guesses it just

441
00:27:03,464 --> 00:27:12,484
automatically wipes 13 or 16 it's 13 13 and the number is completely random they just chose that

442
00:27:12,484 --> 00:27:18,584
13 there's no specific reason um but uh so they got around that pin protection

443
00:27:18,584 --> 00:27:26,284
and their excuse afterwards is like well you could do a longer pin okay well um one of their

444
00:27:26,284 --> 00:27:32,124
main design choices was to try and limit the pin choice the pin brute forcing because uh people

445
00:27:32,124 --> 00:27:37,764
tend to choose short pins and a long pin is not that convenient. But then the second piece,

446
00:27:37,944 --> 00:27:43,124
an issue with a wallet like this is you don't have a screen, right? And any wallet that does

447
00:27:43,124 --> 00:27:49,004
not have a screen, you can't verify the information on a secure device. So if your phone is compromised,

448
00:27:49,844 --> 00:27:52,924
you'll be shown wrong information. There's no way for the hardware to tell you.

449
00:27:54,044 --> 00:28:00,704
So keep these things in mind. For smaller amounts, it might make sense to use a simpler

450
00:28:00,704 --> 00:28:06,224
hardware wallet that doesn't have a screen like the bitkey uh particularly if the alternative is

451
00:28:06,224 --> 00:28:13,204
to go and use an etf for mstr or something um i think it's way better to hold real bitcoin on a

452
00:28:13,204 --> 00:28:20,844
you know on a on a less secure more convenient hardware wallet um but when you're talking about

453
00:28:20,844 --> 00:28:24,584
large amounts when you're talking about life savings and stuff i think it's important that

454
00:28:24,584 --> 00:28:33,104
people put in the work and you know do proper cold storage offline self-custody um with secure

455
00:28:33,104 --> 00:28:41,324
hardware invest the time invest the small financial requirements to do that and and make it happen for

456
00:28:41,324 --> 00:28:50,904
your family do the work practice makes perfect as matt likes to say if you can raise a child

457
00:28:50,904 --> 00:28:58,344
you can secure bitcoin full coal 100 if you can drive a car you can secure bitcoin practice makes

458
00:28:58,344 --> 00:29:05,024
perfect get on it be aware of all the foot guns out there it's funny like uh 88 sats radio saying

459
00:29:05,024 --> 00:29:08,684
tangim has a cold like following there's so many of these wallets out there that

460
00:29:08,684 --> 00:29:14,684
i'm completely oblivious to that which is like how how are they getting this cold following how are

461
00:29:14,684 --> 00:29:22,764
What are they doing on the marketing end to get this that the better hardware producers need to adopt?

462
00:29:23,984 --> 00:29:26,864
Well, no, I think part of it is because they support shitcoins, right?

463
00:29:26,984 --> 00:29:31,404
So we're just blind to that entire market.

464
00:29:32,964 --> 00:29:39,384
And so what I would say to that, like, I mean, if you're going to trade shitcoins, consider not saying I'm going to stack your stats instead.

465
00:29:40,844 --> 00:29:42,744
But many people still insist on it.

466
00:29:42,744 --> 00:29:48,604
So like do different, like your, your Bitcoin self custody should be much more secure.

467
00:29:49,044 --> 00:29:54,464
And then you can, you know, you just store your shit coins on Tangium or Trust Wallet or Ledger or whatever.

468
00:29:55,804 --> 00:29:58,764
But you can use multiple wallets.

469
00:29:59,524 --> 00:30:05,524
You don't need to, don't omnibus your Bitcoin storage with your shit coins and store it less securely because of convenience.

470
00:30:06,244 --> 00:30:08,504
That's the worst decision you can make.

471
00:30:12,744 --> 00:30:13,664
Be aware, freaks.

472
00:30:13,744 --> 00:30:17,764
Only on another 42,000 set zap.

473
00:30:18,364 --> 00:30:19,904
This is a different kind of all in.

474
00:30:20,144 --> 00:30:20,704
It really is.

475
00:30:20,984 --> 00:30:21,504
It really is.

476
00:30:27,124 --> 00:30:28,104
Reading the comments.

477
00:30:28,184 --> 00:30:29,004
Got to stop reading the comments.

478
00:30:29,104 --> 00:30:29,984
I'm breaking my own rule.

479
00:30:32,284 --> 00:30:33,104
Moving on.

480
00:30:34,444 --> 00:30:34,924
Obscura.

481
00:30:36,104 --> 00:30:38,004
The VPN of choice.

482
00:30:38,164 --> 00:30:38,904
Love to see it.

483
00:30:39,244 --> 00:30:40,464
Official VPN of RHR.

484
00:30:41,524 --> 00:30:42,624
Added more servers.

485
00:30:42,744 --> 00:30:47,744
so they've been uh they've been shipping pretty quickly especially after they got their ios app

486
00:30:47,744 --> 00:30:53,844
out so they have major server deployments in the u.s uh spanning from seattle to miami

487
00:30:53,844 --> 00:30:58,624
all across the country new international locations from brazil south africa

488
00:30:58,624 --> 00:31:04,804
spain poland sweden an increased capacity in new york san jose dallas frankfurt germany london

489
00:31:04,804 --> 00:31:24,208
uk um where it seems like it going to be needed yeah well i mean no this is different right So this is like where you exit Like British people could already use it and presumably wouldn want to exit in the UK anyway

490
00:31:24,328 --> 00:31:26,128
They would want to exit in a freer country.

491
00:31:27,788 --> 00:31:38,228
But, you know, one of the convenient aspects of the best VPNs in the business is that they give you a lot of servers that you can choose where your IP is.

492
00:31:38,248 --> 00:31:45,608
is located. Effectively, any site you go to will think you're in that country.

493
00:31:47,188 --> 00:31:54,408
So Obscura is awesome. The way Obscura is set up is, so if you're doing something incredibly

494
00:31:54,408 --> 00:32:00,468
adversarial and your threat model is very significant and you want the best privacy

495
00:32:00,468 --> 00:32:06,888
possible, you should use Tor. Now, Tor is incredibly slow by design. The way the network

496
00:32:06,888 --> 00:32:14,428
works is bouncing between a bunch of different servers. And as a result, performance is very

497
00:32:14,428 --> 00:32:20,008
degraded in terms of speed and UX and whatnot. But it gives you very strong privacy guarantees.

498
00:32:20,628 --> 00:32:25,008
Then on the opposite side, you have a traditional hosted VPN that is very fast and has many

499
00:32:25,008 --> 00:32:29,508
different servers you can choose from. But the problem with that is you have to trust that

500
00:32:29,508 --> 00:32:33,708
they're not actually taking logs. So it becomes a reputation game, right? It's like someone like

501
00:32:33,708 --> 00:32:36,388
Mulvad has a very strong reputation.

502
00:32:36,388 --> 00:32:40,368
So you're just trusting that they're not tracking your internet activity.

503
00:32:40,508 --> 00:32:45,148
So instead of your internet service provider, like Comcast or Starlink or whatever, tracking

504
00:32:45,148 --> 00:32:48,748
your internet activity, you're now trusting a different provider.

505
00:32:48,868 --> 00:32:50,228
You're trusting your VPN provider.

506
00:32:50,788 --> 00:32:53,368
Now, the cool part about Obscura is it straddles the middle.

507
00:32:54,088 --> 00:32:58,688
So Obscura runs the entry server and Mulvad is running the exit server.

508
00:32:59,308 --> 00:33:04,528
So the only way they could track you is if both Obscura and Mulvad collude with each other.

509
00:33:05,088 --> 00:33:10,208
So you get the privacy benefits that are moving closer to something like Tor,

510
00:33:10,828 --> 00:33:14,008
but you have the performance benefits of a traditional VPN.

511
00:33:14,188 --> 00:33:15,488
It's a really nice middle ground.

512
00:33:15,488 --> 00:33:20,008
The two big things Obscura has been missing is more server choices.

513
00:33:21,128 --> 00:33:26,948
Specifically, on the entry side, you want to be able to enter somewhere closer for getting better performance.

514
00:33:26,948 --> 00:33:29,988
and just the more servers there are,

515
00:33:30,088 --> 00:33:31,988
the more distributed the user base is

516
00:33:31,988 --> 00:33:33,768
so you have better performance.

517
00:33:34,268 --> 00:33:35,128
And then the second piece,

518
00:33:35,208 --> 00:33:36,368
which they're still working on,

519
00:33:36,408 --> 00:33:37,268
is more platforms.

520
00:33:37,468 --> 00:33:40,008
Like right now, it's Mac and iOS only.

521
00:33:41,528 --> 00:33:44,048
While the big dogs like Mulvad and Proton

522
00:33:44,048 --> 00:33:48,968
have every major platform available.

523
00:33:49,228 --> 00:33:51,068
But I know they're working on it

524
00:33:51,068 --> 00:33:53,748
and I'm just really grateful they exist.

525
00:33:53,868 --> 00:33:54,908
It's awesome.

526
00:33:55,048 --> 00:33:56,308
It works really, really well.

527
00:33:56,308 --> 00:33:58,988
and has pretty strong privacy guarantees.

528
00:34:00,148 --> 00:34:00,308
Yeah.

529
00:34:00,668 --> 00:34:01,528
Easy recommendation.

530
00:34:02,248 --> 00:34:03,408
I'm testing it out right now.

531
00:34:03,808 --> 00:34:04,988
Like performance is high.

532
00:34:05,368 --> 00:34:06,508
You get a bunch of coverage.

533
00:34:07,288 --> 00:34:10,728
Obviously, you get all the privacy benefits of a VPN.

534
00:34:11,448 --> 00:34:13,628
But I was just able to go on YouTube TV

535
00:34:13,628 --> 00:34:16,268
and put on the Ryder Cup, which I've never been.

536
00:34:16,268 --> 00:34:18,308
Yeah, but I think that's...

537
00:34:18,888 --> 00:34:20,968
Don't sell obscure on that.

538
00:34:21,488 --> 00:34:21,728
No.

539
00:34:21,828 --> 00:34:24,248
Because it's because there's...

540
00:34:24,248 --> 00:34:34,228
So the way like Netflix and YouTube TV are block VPN usage is they know they see enough users coming through an IP address and then they know it's a VPN, right?

541
00:34:34,228 --> 00:34:46,648
So you can also host your own VPN, but then you lose a lot of the privacy benefits that a hosted VPN has because the beauty of a hosted VPN is like us and a thousand users or 10,000 users are all using the same IP address.

542
00:34:46,748 --> 00:34:50,628
So when you go on a website, they don't know which of the 10,000 you get to hide in the crowd, right?

543
00:34:50,628 --> 00:35:00,068
But it's also the negative of it because if 10,000 users hit Netflix in the same IP address, like they know it's a VPN and they add it to the blacklist.

544
00:35:00,848 --> 00:35:05,868
So Obscura's benefit in that regard is just because they're early and they don't have that many users.

545
00:35:06,708 --> 00:35:14,828
There's nothing technically innovative that is like allowing you to watch YouTube TV or Netflix or whatnot.

546
00:35:15,008 --> 00:35:16,648
That's just an early thing.

547
00:35:16,988 --> 00:35:19,708
Well, let's get it to the point where I can't watch YouTube TV.

548
00:35:19,708 --> 00:35:21,508
use the code RHR25

549
00:35:21,508 --> 00:35:23,028
for 25% off

550
00:35:23,028 --> 00:35:23,768
subscription

551
00:35:23,768 --> 00:35:24,908
if you guys want it

552
00:35:24,908 --> 00:35:26,008
we got

553
00:35:26,008 --> 00:35:26,968
21,000

554
00:35:26,968 --> 00:35:28,588
boost from

555
00:35:28,588 --> 00:35:29,068
there you go

556
00:35:29,068 --> 00:35:30,308
from Marks

557
00:35:30,308 --> 00:35:30,728
or Zap

558
00:35:30,728 --> 00:35:31,888
I get boost and Zap

559
00:35:31,888 --> 00:35:32,488
I'm just going to use them

560
00:35:32,488 --> 00:35:33,108
interchangeably

561
00:35:33,108 --> 00:35:34,768
privacy is for normal people

562
00:35:34,768 --> 00:35:35,428
that is true

563
00:35:35,428 --> 00:35:36,368
that is true

564
00:35:36,368 --> 00:35:38,808
and then this is a lower Zap

565
00:35:38,808 --> 00:35:40,108
but I'd like the message

566
00:35:40,108 --> 00:35:41,248
Stack Toshi's zapped

567
00:35:41,248 --> 00:35:41,988
2100

568
00:35:41,988 --> 00:35:43,408
I said Prime will nail this

569
00:35:43,408 --> 00:35:45,028
Matt and Marty are trailblazers

570
00:35:45,028 --> 00:35:47,948
I like the message

571
00:35:47,948 --> 00:35:48,488
you're going to

572
00:35:48,488 --> 00:35:49,068
you're going to read

573
00:35:49,068 --> 00:35:54,348
the lower limit message just because it pumps us only if the only if the message uh is flat ads or

574
00:35:54,348 --> 00:36:01,268
ego yeah then yazzer said rhrover zap.stream is peak nostor keep up the good work boys stack

575
00:36:01,268 --> 00:36:13,668
stats shout out to you yazzer 21 000 set zap love it uh moving on fold in-store gift cards

576
00:36:13,668 --> 00:36:15,668
being seen in the wild.

577
00:36:16,548 --> 00:36:18,968
Haley Lennon, disclaimer, works for Fold.

578
00:36:19,088 --> 00:36:21,468
Disclaimer, Fold is a 1031 portfolio company,

579
00:36:21,588 --> 00:36:24,808
but this is something that they've been working towards

580
00:36:24,808 --> 00:36:26,488
for a long time, and it's really cool to see in the wild,

581
00:36:26,588 --> 00:36:27,308
the Fold gift cards.

582
00:36:28,768 --> 00:36:32,128
Yep, and they also had an announcement this week

583
00:36:32,128 --> 00:36:35,748
that the Fold credit card is imminent,

584
00:36:35,748 --> 00:36:38,088
and it'll be a partnership with Visa and Stripe.

585
00:36:39,208 --> 00:36:40,108
Stripe with a P.

586
00:36:40,108 --> 00:36:49,108
one and a half percent sat sats back for everybody bumps up i believe two and a half

587
00:36:49,108 --> 00:36:56,368
two two and a half uh if you do direct deposits into into the fold out as well i mean people are

588
00:36:56,368 --> 00:37:00,148
excited about all the credit cards i mean they're trying like the gemini one and the coinbase one

589
00:37:00,148 --> 00:37:05,528
i'm not like particularly like when i use a credit card i have an amex that i'm happy with

590
00:37:05,528 --> 00:37:08,808
but the physical gift cards

591
00:37:08,808 --> 00:37:09,828
I think is

592
00:37:09,828 --> 00:37:10,808
is like

593
00:37:10,808 --> 00:37:11,988
is an underrated deal

594
00:37:11,988 --> 00:37:13,408
actually just having like

595
00:37:13,408 --> 00:37:14,748
walking into like a Walgreens

596
00:37:14,748 --> 00:37:16,568
and being able to pick up

597
00:37:16,568 --> 00:37:17,928
like a physical Bitcoin gift card

598
00:37:17,928 --> 00:37:20,768
I think is pretty cool

599
00:37:20,768 --> 00:37:22,348
at the very least

600
00:37:22,348 --> 00:37:22,928
it's incredible

601
00:37:22,928 --> 00:37:24,328
gorilla brand

602
00:37:24,328 --> 00:37:25,608
recognition

603
00:37:25,608 --> 00:37:25,888
yeah

604
00:37:25,888 --> 00:37:26,508
not only for gold

605
00:37:26,508 --> 00:37:27,188
but for Bitcoin

606
00:37:27,188 --> 00:37:28,088
more generally

607
00:37:28,088 --> 00:37:29,128
seeing that orange bee

608
00:37:29,128 --> 00:37:30,248
when you're in the

609
00:37:30,248 --> 00:37:31,508
checkout line at a

610
00:37:31,508 --> 00:37:32,948
Walgreens or CVS

611
00:37:32,948 --> 00:37:45,348
moving on with the 1031 portfolio company section of the show strike lending is now available

612
00:37:45,348 --> 00:37:52,148
in north it's just it's just a coincidence it wasn't meant to be the 1031 section

613
00:37:52,148 --> 00:38:00,288
our investments are broad um i i know people like on a state-by-state basis are are looking

614
00:38:00,288 --> 00:38:01,088
for strike loans.

615
00:38:01,448 --> 00:38:09,928
So the handful of freaks in North Dakota out there is now supported.

616
00:38:10,408 --> 00:38:16,108
It's literally like internally, it's just in parallel working on a ton of states and

617
00:38:16,108 --> 00:38:16,988
a ton of countries.

618
00:38:17,528 --> 00:38:20,288
And we're just going to ship them as they become available.

619
00:38:20,288 --> 00:38:27,848
um but but no the work is being done and the licensing is uh

620
00:38:28,608 --> 00:38:35,348
you know going through that licensing is a skill of its own and the strike team is is quite uh

621
00:38:35,348 --> 00:38:40,728
competent out of it's impressive to watch yeah not a zap

622
00:38:40,728 --> 00:38:48,188
but really cool and building on what we said earlier noster is getting to a point

623
00:38:48,188 --> 00:38:50,308
maturation and

624
00:38:50,308 --> 00:38:52,348
UX parity

625
00:38:52,348 --> 00:38:54,308
with everything else. Layer

626
00:38:54,308 --> 00:38:56,288
zero propaganda on X

627
00:38:56,288 --> 00:38:56,928
just tweeted

628
00:38:56,928 --> 00:39:00,288
at me and Citadel Dispatch. So I don't know

629
00:39:00,288 --> 00:39:02,508
if Citadel Dispatch X account is still active

630
00:39:02,508 --> 00:39:04,148
but I'm currently watching Rappable Recap

631
00:39:04,148 --> 00:39:06,528
on my Apple TV using TK's

632
00:39:06,528 --> 00:39:08,488
Nostra TV app currently in test flight

633
00:39:08,488 --> 00:39:10,648
beta. This is Nostra

634
00:39:10,648 --> 00:39:12,388
streams on your big screen with Apple

635
00:39:12,388 --> 00:39:14,568
UI UX. You can even

636
00:39:14,568 --> 00:39:16,408
zap them on the screen. That's pretty

637
00:39:16,408 --> 00:39:20,968
cool i just retweeted it on x if you want to go check out the the test flight link

638
00:39:20,968 --> 00:39:31,568
i've resisted an x tweet this wasn't in the live chat yeah x tweet um cool yeah no the

639
00:39:31,568 --> 00:39:37,988
citadel dispatch accounts while not deleted is just sitting there dormant because you can't

640
00:39:37,988 --> 00:39:45,868
stream from x unless you have a blue check and i refuse to comply should so now dispatch streams

641
00:39:45,868 --> 00:39:50,648
from the 1031 account because uh jonathan blue checked himself

642
00:39:50,648 --> 00:40:02,208
it's great there you go team effort moving on to the human rights foundation i mean the rhr

643
00:40:02,208 --> 00:40:06,808
the rhr account also never got blue checked and is sitting dormant and that's why this goes out

644
00:40:06,808 --> 00:40:12,488
through the tftc account if we get it i rely on my friends i rely on my friends and business

645
00:40:12,488 --> 00:40:13,968
partners to blue check themselves.

646
00:40:14,168 --> 00:40:15,028
We have a yellow check.

647
00:40:15,028 --> 00:40:16,828
In order to provide for the ex-audience.

648
00:40:17,588 --> 00:40:18,948
We have a yellow check, okay.

649
00:40:19,208 --> 00:40:20,808
How much do you pay for the yellow check?

650
00:40:22,028 --> 00:40:23,408
It's like 200 bucks a month.

651
00:40:24,928 --> 00:40:25,368
Wow.

652
00:40:25,868 --> 00:40:26,508
For the business.

653
00:40:27,948 --> 00:40:28,388
Yeah.

654
00:40:29,788 --> 00:40:33,028
Did you have Logan do the ID check for it, or did you do that?

655
00:40:33,948 --> 00:40:36,608
I would not subject my employees to it.

656
00:40:36,608 --> 00:40:37,948
You have to do a corporate.

657
00:40:38,248 --> 00:40:40,668
It's like EIN, since it's a corporate account.

658
00:40:41,288 --> 00:40:42,228
That's not as bad.

659
00:40:42,488 --> 00:40:43,008
Yeah.

660
00:40:44,808 --> 00:40:47,208
All right.

661
00:40:47,268 --> 00:40:49,628
Human Rights Foundation story of the week coming out of Thailand.

662
00:40:50,028 --> 00:40:51,648
It's been a bad week for Thailand.

663
00:40:51,808 --> 00:40:59,868
They got hit with a typhoon, and the Thai government freezes accounts and imposes transfer limits in an effort to reduce online financial scams.

664
00:40:59,988 --> 00:41:02,788
The Bank of Thailand froze more than 3 million bank accounts.

665
00:41:03,088 --> 00:41:12,188
It also set strict daily transfer limits for citizens ranging from 50,000 to 200,000 baht, which is the equivalent of $1,500 to $6,000 a year.

666
00:41:12,488 --> 00:41:20,268
In the United States, this comes after suffering nearly 6 billion baht or 189 million in damages from online scams in recent months.

667
00:41:21,088 --> 00:41:26,988
The freeze has left many online creators, small businesses, and foreign residents unable to access funds or process payments.

668
00:41:27,068 --> 00:41:30,928
The heavy-handed approach caused panic, withdrawals, and confusion,

669
00:41:31,388 --> 00:41:40,068
and offers a glimpse into how broad state measures against fraud can unintentionally lead to financial repression, cutting ties off from their own money.

670
00:41:40,068 --> 00:41:48,888
For more stories like this, make sure you sign up to the Financial Freedom Report newsletter, which comes out weekly at financialfreedomreport.org.

671
00:41:49,548 --> 00:41:54,368
It's good to see the HRF crew in Nashville last week.

672
00:41:54,888 --> 00:41:56,888
Shout out to Arsh and everybody there.

673
00:41:57,288 --> 00:41:58,768
But I mean, this story.

674
00:41:58,968 --> 00:42:01,128
I feel like Arsh specifically is everywhere.

675
00:42:01,788 --> 00:42:03,108
Really? Yeah, he is.

676
00:42:03,108 --> 00:42:04,088
I feel like whenever.

677
00:42:04,248 --> 00:42:10,268
I just say every time I land somewhere, he's there just waiting with a smile on his face.

678
00:42:10,628 --> 00:42:11,228
Shout out Arsh.

679
00:42:12,148 --> 00:42:12,988
Shout out Arsh.

680
00:42:13,148 --> 00:42:14,408
But this story, I mean, is very similar.

681
00:42:14,508 --> 00:42:16,388
I don't think we touched on it last week because I think it happened.

682
00:42:17,348 --> 00:42:20,948
Or I was made aware of it after we recorded because we recorded it early last week on Wednesday.

683
00:42:21,088 --> 00:42:31,828
But similar thing happened in Vietnam where they instituted biometric verification for their bank accounts using fraud and scams as the justification.

684
00:42:31,828 --> 00:42:39,748
and they and it was like 86 million bank accounts yeah yeah yeah every week it's a

685
00:42:39,748 --> 00:42:45,468
new week new country freezing bank accounts this is why we bitcoin this is why we self-custody

686
00:42:45,468 --> 00:42:53,808
bitcoin bitcoin in an etf or a bitcoin stock does not protect you from this bitcoin held on

687
00:42:53,808 --> 00:43:01,228
They can freeze your Charles Schwab account, freaks, in case you were not aware.

688
00:43:05,748 --> 00:43:07,768
Beware. The Vietnam thing is crazy.

689
00:43:09,008 --> 00:43:16,168
And again, like using biometrics, you had to go in Vietnam if you didn't go to your local bank branch

690
00:43:16,168 --> 00:43:21,908
and either give them a face scan or a fingerprint to verify your account.

691
00:43:21,908 --> 00:43:24,248
if you didn't do that by September 1st

692
00:43:24,248 --> 00:43:26,308
they froze your account and sort of gave you

693
00:43:26,308 --> 00:43:28,268
a 30 day leeway

694
00:43:28,268 --> 00:43:30,208
period and I believe

695
00:43:30,208 --> 00:43:32,368
by the end of this month if you don't do it

696
00:43:32,368 --> 00:43:34,448
by September 30th in Vietnam

697
00:43:34,448 --> 00:43:36,328
they will just completely zero

698
00:43:36,328 --> 00:43:37,048
out your account

699
00:43:37,048 --> 00:43:40,108
another interesting thing too

700
00:43:40,108 --> 00:43:41,868
it's like a great way for these countries

701
00:43:41,868 --> 00:43:44,348
not a great way but it is a way for these countries

702
00:43:44,348 --> 00:43:45,208
to do bail-ins

703
00:43:45,208 --> 00:43:48,108
by another mechanism

704
00:43:48,108 --> 00:43:49,648
it's like what happens

705
00:43:49,648 --> 00:43:52,368
with all the money in these accounts

706
00:43:52,368 --> 00:43:55,228
that doesn't get claimed by individuals

707
00:43:55,228 --> 00:43:56,428
who go and scan their face.

708
00:43:56,708 --> 00:43:59,548
Does he go into the Treasury General Account in Vietnam?

709
00:43:59,728 --> 00:44:00,388
That's why I assume.

710
00:44:04,348 --> 00:44:05,128
Fucked up.

711
00:44:06,488 --> 00:44:06,768
Yeah.

712
00:44:08,028 --> 00:44:09,488
I'm trying to get to

713
00:44:09,488 --> 00:44:13,488
Fountain Boost.

714
00:44:13,488 --> 00:44:20,628
that's not the one

715
00:44:20,628 --> 00:44:24,208
rabbit hole recap

716
00:44:24,208 --> 00:44:26,728
375 the pal parlay

717
00:44:26,728 --> 00:44:28,648
we've got

718
00:44:28,648 --> 00:44:30,808
a couple boost over 21,000

719
00:44:30,808 --> 00:44:31,808
sats

720
00:44:31,808 --> 00:44:33,928
such a good name for that episode

721
00:44:33,928 --> 00:44:35,308
right

722
00:44:35,308 --> 00:44:38,628
it would have been even better if we made a bet

723
00:44:38,628 --> 00:44:39,928
I know

724
00:44:39,928 --> 00:44:42,208
I made the episode and then tried to

725
00:44:42,208 --> 00:44:43,588
tried to make a bet.

726
00:44:45,628 --> 00:44:49,108
Our boy Keith is here to pump TabConf

727
00:44:49,108 --> 00:44:53,188
with a 21,212 set

728
00:44:53,188 --> 00:44:55,268
palindrome boost.

729
00:44:55,988 --> 00:44:58,388
Save the date, Tuesday, October 14th.

730
00:44:58,428 --> 00:45:00,068
Standby for ZapRite ticket link,

731
00:45:00,208 --> 00:45:00,768
which is coming.

732
00:45:01,668 --> 00:45:04,368
ATL BTC meetup, M-E-A-T,

733
00:45:04,588 --> 00:45:05,748
dinner at Fogo de Chal,

734
00:45:05,808 --> 00:45:07,368
a satellite event for TabConf,

735
00:45:07,468 --> 00:45:08,748
the Atlanta Bitcoin Conference.

736
00:45:09,968 --> 00:45:10,748
Shout out to you, Keith.

737
00:45:10,748 --> 00:45:11,708
Shout out to TabConf.

738
00:45:11,708 --> 00:45:13,588
Shout out to the meetup and shout out to ZapRite.

739
00:45:13,888 --> 00:45:17,248
First time I had the ZapRite ticketing experience and imagine if we're

740
00:45:17,248 --> 00:45:17,708
fall asleep.

741
00:45:19,768 --> 00:45:23,208
Yeah, it was a really good ticketing experience on our side too.

742
00:45:24,028 --> 00:45:24,648
On the backend.

743
00:45:27,008 --> 00:45:30,108
Our boy Foyze came in with a 21,000 SatBoost.

744
00:45:30,188 --> 00:45:37,048
Chicago meetup this Sunday, September 28th at 12 noon at Revolution Brewery

745
00:45:37,048 --> 00:45:39,908
3340 North Kedzie Avenue.

746
00:45:39,908 --> 00:45:41,868
BYO food or pre-order with

747
00:45:41,868 --> 00:45:44,008
Foyze menu and details on my

748
00:45:44,008 --> 00:45:45,968
Noster page shout out Matt and Marty

749
00:45:45,968 --> 00:45:47,948
and shout out me shout out to you Foyze

750
00:45:47,948 --> 00:45:49,988
shout out to you

751
00:45:49,988 --> 00:45:50,588
I love it

752
00:45:50,588 --> 00:45:53,968
shout out you freaks thank you for supporting

753
00:45:53,968 --> 00:45:55,448
the show let me see

754
00:45:55,448 --> 00:45:57,948
3340 North Kedzie

755
00:45:57,948 --> 00:46:01,948
let's see what neighborhood this is in

756
00:46:01,948 --> 00:46:05,468
oh right by the

757
00:46:05,468 --> 00:46:06,368
I see

758
00:46:06,368 --> 00:46:08,948
I see Habibi zapped

759
00:46:08,948 --> 00:46:14,988
1,111 sats and said, please fix the in-app purchases for sats. I assume he's talking

760
00:46:14,988 --> 00:46:22,128
about Primal. That is on our radar. We're working on it. We just like to ship things to you guys

761
00:46:22,128 --> 00:46:30,628
fast. So our current setup is not the long-term setup for that feature, but we will get it back

762
00:46:30,628 --> 00:46:35,628
online ASAP and then we'll make it even better from there, which is our style. And then I see

763
00:46:35,628 --> 00:46:41,548
soap miner, which I 100% agree with saying we need to keep expanding the Bitcoin ecosystem so

764
00:46:41,548 --> 00:46:57,692
that we don need fiat for any of the goods we use And I think that key The central points of failure are the connections to the fiat system This is where Bitcoin circular economy really really becomes powerful

765
00:46:57,692 --> 00:47:03,732
is when you see actions like the Thai government and the Vietnamese closing bank accounts

766
00:47:03,732 --> 00:47:09,292
to be able to just transact in Bitcoin and be ready for it when that happens.

767
00:47:09,292 --> 00:47:21,592
A lot of the conversation around the core versus not stuff and funding devs focuses on Bitcoin core specifically.

768
00:47:22,592 --> 00:47:26,192
But I will speak to OpenSats.

769
00:47:28,232 --> 00:47:37,352
And with OpenSats, protocol funding is a very small aspect of our larger mission.

770
00:47:37,352 --> 00:47:46,012
um we've given out 324 grants and the key there is we need all these different open source projects

771
00:47:46,012 --> 00:47:52,712
and apps around around the ecosystem for these types of situations because if you have to and

772
00:47:52,712 --> 00:47:58,932
you know the irony here is marty and i through our investment fund have invested in and supported

773
00:47:58,932 --> 00:48:03,372
the top bitcoin companies in the space but at the end of the day companies are a central point of

774
00:48:03,372 --> 00:48:08,232
failure. And we need to have open source projects that are not controlled by a company that are not

775
00:48:08,232 --> 00:48:12,512
controlled by an individual that are well maintained, that are robust, that are easy to use,

776
00:48:12,512 --> 00:48:17,972
because they're viral in nature. And they're very, very hard to kill because anyone can modify them,

777
00:48:18,092 --> 00:48:23,692
anyone can distribute them, anyone can run them without permission. And it's, it's more important

778
00:48:23,692 --> 00:48:29,832
than ever. And time is of the essence. Can we wait 10 years? Maybe. I don't want to wait 10 years,

779
00:48:29,832 --> 00:48:36,692
out, the sooner the better. We have families to raise. We have things to get done and life is short.

780
00:48:37,912 --> 00:48:41,732
If we can supercharge this stuff, I think it's well worth it.

781
00:48:42,972 --> 00:48:47,932
Yeah. And I will step in to give a little bit more credit to 1031. Yes, our main focus is

782
00:48:47,932 --> 00:48:52,612
supporting profit-driven businesses in the space. But one thing we do do is give no-string

783
00:48:52,612 --> 00:48:59,032
attached grants to open source projects. And one of the ones I'm most proud of that we did

784
00:48:59,032 --> 00:49:03,692
a couple of years ago was giving a grant to cali to work on cashew and i'm gonna yeah

785
00:49:03,692 --> 00:49:07,632
hip around the list here because i think we're beginning well before you do that

786
00:49:07,632 --> 00:49:14,892
even i mean uh one of the first checks into open sats when we're getting off the ground is 1031 too

787
00:49:14,892 --> 00:49:25,552
yeah um and as it pertains to open sats i think we've seen the the fruits of that seedling begin

788
00:49:25,552 --> 00:49:30,212
to sprout not only begin to sprout but continue to sprout and really support the ecosystem when

789
00:49:30,212 --> 00:49:36,792
it comes to the grant we gave to cali to work on casio i think we're really beginning to see that

790
00:49:36,792 --> 00:49:41,692
moving to the software update section of the show i'm going to skip ahead and go back but

791
00:49:41,692 --> 00:49:44,872
this is really cool i've been using this wallet for a couple months now

792
00:49:44,872 --> 00:49:50,572
and they've been shipping at breakneck speed and i think what they launched this week was

793
00:49:50,572 --> 00:49:58,012
especially cool i read about it in last night's newsletter but macadamia wallet version 0.4.0

794
00:49:58,012 --> 00:50:02,452
just released included is a new iMessage extension it allows you to send e-cash to

795
00:50:02,452 --> 00:50:07,372
other users in a sleek and approachable way no more wall of gibberish this is really have you

796
00:50:07,372 --> 00:50:13,852
tested it yet uh specifically i did and i intentionally tested it with somebody who

797
00:50:13,852 --> 00:50:20,132
doesn't have a macadamia wallet how does it work on your side like uh do you have to install the

798
00:50:20,132 --> 00:50:27,072
extension in iMessage? How do iMessage extensions work? I just updated to version 0.4.0 and it was

799
00:50:27,072 --> 00:50:32,512
in iMessage. It was just there automatically in the attached thing in iMessage? Yeah. And then

800
00:50:32,512 --> 00:50:36,332
what about on the receiver side? If they didn't have Macadamia, does it like pop up the app store

801
00:50:36,332 --> 00:50:43,092
for them to install Macadamia? I assume so. I sent it to somebody in the space, a friend of the pod

802
00:50:43,092 --> 00:50:50,112
listens. I think he'd be okay if I said his name. Did he tell you? But I sent him, I used

803
00:50:50,112 --> 00:50:52,612
use the iMessage thing, sent him 21 sats.

804
00:50:53,412 --> 00:50:54,492
He's like, what do I do with this?

805
00:50:54,512 --> 00:50:55,112
I'm like, click it.

806
00:50:55,352 --> 00:50:58,112
And then within two minutes, he's like, oh, I downloaded the wallet.

807
00:50:58,632 --> 00:50:59,712
He connected to it, man.

808
00:50:59,912 --> 00:51:00,452
That's awesome.

809
00:51:00,832 --> 00:51:01,812
He redeemed it, yeah.

810
00:51:02,712 --> 00:51:05,072
Yeah, Macadamia is awesome.

811
00:51:06,792 --> 00:51:08,592
One of the best Cashew wallets, period.

812
00:51:09,752 --> 00:51:14,012
And what's cool about it is if you want like a power user wallet,

813
00:51:15,012 --> 00:51:18,572
maybe you're using Cashew.me or Minibits.

814
00:51:18,572 --> 00:51:26,312
but what's cool about macadamia is it's just like a really user-friendly easy to use very pretty and

815
00:51:26,312 --> 00:51:34,312
polished wallet it's a it's a first class design experience which is pretty rare in the bitcoin

816
00:51:34,312 --> 00:51:41,612
space so it's it's wonderful to see i will say you'd mentioned something there did he ask you

817
00:51:41,612 --> 00:51:48,412
which meant to pick no but i think he saw what meant i was connected to and asked if he should

818
00:51:48,412 --> 00:51:55,552
connect to that and uh i said you pick whatever one you want so i the biggest friction point for

819
00:51:55,552 --> 00:52:03,012
cashew mints for cashew wallets in general is the user having to choose a mint and i i understand

820
00:52:03,012 --> 00:52:09,212
why that's the case historically um is because wallet providers don't want to you know choose

821
00:52:09,212 --> 00:52:15,332
choose your mint for you a mint is a trusted relationship the mint uh could go down um

822
00:52:15,332 --> 00:52:18,352
and you won't have access to your funds,

823
00:52:18,452 --> 00:52:20,412
the Mint can be malicious and rug you

824
00:52:20,412 --> 00:52:24,452
or do quiet inflation and slowly rug Mint users.

825
00:52:24,932 --> 00:52:27,592
So it's a very intimate choice

826
00:52:27,592 --> 00:52:30,392
which Mint you choose and which Mints you use.

827
00:52:30,392 --> 00:52:32,672
I will say with this feature specifically,

828
00:52:33,612 --> 00:52:38,972
it would be cool if the user didn't have a Macadamia wallet

829
00:52:38,972 --> 00:52:41,172
and they click it,

830
00:52:41,432 --> 00:52:44,912
it just automatically used the Mint of the gifter, right?

831
00:52:44,912 --> 00:52:49,632
Because presumably you already have a relationship with the person gifting it to you.

832
00:52:51,452 --> 00:53:01,892
And you can basically skip that onboarding flow, that friction point of choosing your mint, because they can effectively recommend it.

833
00:53:01,952 --> 00:53:06,632
But the user on the receiving side can't tell or doesn't get prompted.

834
00:53:07,012 --> 00:53:08,372
They can always change the mint in the future.

835
00:53:08,972 --> 00:53:13,232
Well, you could even give them the prompt like, hey, Marty, who's sending you these sats?

836
00:53:13,372 --> 00:53:14,352
Recommended by Marty.

837
00:53:14,912 --> 00:53:16,492
Would you want to join this too?

838
00:53:16,712 --> 00:53:17,032
Yes.

839
00:53:17,412 --> 00:53:17,652
Boom.

840
00:53:17,952 --> 00:53:18,492
Yeah, I like that.

841
00:53:18,632 --> 00:53:20,592
Maybe that's like the nice middle ground.

842
00:53:20,712 --> 00:53:22,092
But anyway, this was pretty cool to see.

843
00:53:22,912 --> 00:53:23,112
Yeah.

844
00:53:25,292 --> 00:53:26,212
Really cool to see.

845
00:53:26,512 --> 00:53:28,392
Again, we've talked about it a lot.

846
00:53:28,512 --> 00:53:32,872
The breakneck speed of innovation around the cashew

847
00:53:32,872 --> 00:53:35,232
Chomium Mint protocol has been insane.

848
00:53:35,232 --> 00:53:38,572
And I think Macadamia is a shining example.

849
00:53:38,712 --> 00:53:41,192
That tier point, the UX is impeccable.

850
00:53:41,512 --> 00:53:44,692
And given the idea of like melting sats from lightning to e-cash,

851
00:53:44,912 --> 00:53:52,712
in reverse like it's pretty seamless yeah and it's pretty um i see tyler stevens uh

852
00:53:52,712 --> 00:54:00,472
who also had a great presentation at the imagine if summit here in nashville this weekend um zap

853
00:54:00,472 --> 00:54:06,632
21 000 sats he says there's a heat punk summit coming up save the date february 27th and 28th

854
00:54:06,632 --> 00:54:12,332
at the space in denver denver's version of bitcoin park i've only heard good things about

855
00:54:12,332 --> 00:54:13,432
Have you been to the space yet?

856
00:54:14,052 --> 00:54:14,392
Not yet.

857
00:54:14,552 --> 00:54:19,292
I'm getting lambasted by Tyler to get there.

858
00:54:21,332 --> 00:54:22,872
Harassment is the correct word, Marty.

859
00:54:23,472 --> 00:54:23,952
Harassed.

860
00:54:24,272 --> 00:54:27,512
I think lightly nudged or more aggressively nudged.

861
00:54:28,152 --> 00:54:29,732
It's probably the right term.

862
00:54:29,852 --> 00:54:30,692
I'm going to get there.

863
00:54:30,792 --> 00:54:36,692
I want to see XRG's Bitcoin mining heating system in person.

864
00:54:37,092 --> 00:54:41,352
I've seen pictures of it, seen videos of it, had Tyler on TFTC talk about it.

865
00:54:41,352 --> 00:54:47,092
it's about time I get there. And I will note, Tyler, this is the way to do a bigger

866
00:54:47,092 --> 00:54:52,872
event announcement. You and Keith Sharp are on it. Start beating the drum a couple months before,

867
00:54:52,952 --> 00:54:59,092
get people time. We've got five, six months until this event happens and get people ready for it.

868
00:54:59,192 --> 00:55:03,632
Start beating the, in marketing, what is it? How many touches for conversion? This is the first

869
00:55:03,632 --> 00:55:08,852
touch. You're starting six months early. This is the way to do it. I worry for the freaks that

870
00:55:08,852 --> 00:55:12,252
that do ninja meetup announcements two days before.

871
00:55:15,112 --> 00:55:17,372
But some people are spontaneous.

872
00:55:17,552 --> 00:55:18,072
They say, you know what?

873
00:55:18,072 --> 00:55:18,632
I'm going to go to that.

874
00:55:18,852 --> 00:55:19,532
Keep doing that too.

875
00:55:20,812 --> 00:55:21,832
Back to the list.

876
00:55:22,372 --> 00:55:28,412
Back up to other software updates in the space.

877
00:55:28,872 --> 00:55:30,392
Peach version 69.

878
00:55:30,592 --> 00:55:31,012
Nice.

879
00:55:31,052 --> 00:55:31,792
Has been released.

880
00:55:32,612 --> 00:55:37,132
It's now two-sided Bitcoin marketplace where both buyers and sellers can be makers or takers.

881
00:55:37,132 --> 00:55:41,692
This is making Peach a real P2P exchange without the KYC.

882
00:55:41,912 --> 00:55:42,732
BS, excuse me.

883
00:55:45,552 --> 00:55:49,312
Yeah, I mean, 1031 is probably one of the first checks invested in Peach.

884
00:55:51,412 --> 00:55:54,532
No KYC, P2P, Bitcoin.

885
00:55:55,632 --> 00:55:56,652
And now it's gotten even better.

886
00:55:57,752 --> 00:56:03,392
Steph and her team are, you know, it's a journey.

887
00:56:03,592 --> 00:56:04,792
It's a hard grind out there.

888
00:56:04,792 --> 00:56:07,432
and it's been impressive watching them ship.

889
00:56:10,492 --> 00:56:11,312
Amberly has.

890
00:56:11,472 --> 00:56:12,072
Go check it out.

891
00:56:12,132 --> 00:56:13,452
You remember her original pitch?

892
00:56:14,392 --> 00:56:15,232
Marty loved it.

893
00:56:15,772 --> 00:56:16,972
Tinder for Bitcoin.

894
00:56:17,552 --> 00:56:17,912
Yes.

895
00:56:19,532 --> 00:56:20,232
She's like,

896
00:56:20,372 --> 00:56:22,972
P2P Bitcoin exchanges should be as easy

897
00:56:22,972 --> 00:56:24,152
as swiping right on Tinder.

898
00:56:25,712 --> 00:56:27,772
So, I mean, that clicked for me.

899
00:56:28,392 --> 00:56:28,792
It should be.

900
00:56:28,892 --> 00:56:29,272
I mean, yeah.

901
00:56:30,052 --> 00:56:32,052
Should we try to find our wives

902
00:56:32,052 --> 00:56:33,852
or your significant other on Tinder?

903
00:56:33,912 --> 00:56:34,392
Maybe not.

904
00:56:34,792 --> 00:56:36,992
No, but a P2P Bitcoin exchange?

905
00:56:37,392 --> 00:56:37,792
Yes.

906
00:56:38,332 --> 00:56:38,852
Yes.

907
00:56:40,272 --> 00:56:44,792
I know a couple of couples that were successful in the online dating thing.

908
00:56:46,172 --> 00:56:50,332
I know a few that were successful, but then it did not turn out well.

909
00:56:51,712 --> 00:56:52,912
It's a mixed bag.

910
00:56:53,652 --> 00:56:56,152
We don't have to give life advice, marital advice here.

911
00:56:56,532 --> 00:57:03,812
I mean, I know one couple that discovered each other on Bitcoin Twitter.

912
00:57:04,792 --> 00:57:07,832
but your mileage may vary.

913
00:57:09,472 --> 00:57:10,752
Your mileage may vary.

914
00:57:10,852 --> 00:57:11,652
I don't know what that means.

915
00:57:11,992 --> 00:57:12,452
I don't know.

916
00:57:13,652 --> 00:57:15,192
They seem to be a great couple.

917
00:57:16,352 --> 00:57:18,032
Yeah, well, I mean, that's more natural to me.

918
00:57:18,192 --> 00:57:19,332
You're finding somebody in a community.

919
00:57:20,512 --> 00:57:20,912
I guess.

920
00:57:22,012 --> 00:57:22,492
Should have been.

921
00:57:23,792 --> 00:57:26,372
There's many couples that have been found on Bitcoin Twitter.

922
00:57:26,892 --> 00:57:28,572
Bitcoin Twitter cesspool right now, though.

923
00:57:29,932 --> 00:57:30,632
Do not recommend.

924
00:57:30,752 --> 00:57:32,432
Did you get breaking news this week out of California?

925
00:57:33,152 --> 00:57:34,432
I do know a few.

926
00:57:34,792 --> 00:57:44,132
um what uh the hate speech law no not that there's a there's a politician running for governor

927
00:57:44,132 --> 00:57:50,552
who said some good things oh my god i don't know how anyone takes that guy seriously at this point

928
00:57:50,552 --> 00:57:57,932
like are you fucking blind like everyone's like they're like uh i can't believe he did this to us

929
00:57:57,932 --> 00:58:01,612
it's like you are fucking blind if you had any expectation of war

930
00:58:01,612 --> 00:58:06,252
I got a good chuckle out of that.

931
00:58:06,252 --> 00:58:06,692
It's like,

932
00:58:06,772 --> 00:58:11,252
people are getting continuously punked.

933
00:58:13,592 --> 00:58:14,912
Speaking about punked,

934
00:58:15,092 --> 00:58:16,252
if you're using LLMs,

935
00:58:16,952 --> 00:58:19,612
you can get punked by the provider of that LLM

936
00:58:19,612 --> 00:58:22,192
if you're not careful with what you say.

937
00:58:22,752 --> 00:58:24,732
That's why we're big supporters of Maple

938
00:58:24,732 --> 00:58:28,092
here at RHR and via 1031.

939
00:58:28,572 --> 00:58:30,892
And they just released their Android app.

940
00:58:30,892 --> 00:58:32,672
So Maple is now on Android.

941
00:58:34,212 --> 00:58:42,652
Yeah, I mean, one of the cool things about Maple, so I mean, you freaks know, it's secure, private, but still cloud-based AI.

942
00:58:43,372 --> 00:58:48,072
So you don't need like a super high-end device to run something self-hosted.

943
00:58:48,592 --> 00:58:52,832
You can use Maple instead, and they run all the top open source models for you.

944
00:58:53,692 --> 00:58:57,172
But one of the coolest parts about Maple is you can just run it in a browser on any phone.

945
00:58:57,252 --> 00:58:58,852
Like they have a progressive web app.

946
00:58:58,992 --> 00:59:00,152
You don't need the app store.

947
00:59:00,152 --> 00:59:05,392
you can just run it in a browser. Historically, that's how people have run it on Android,

948
00:59:05,672 --> 00:59:10,772
but a lot of users wanted to see an actual Android app. So they shipped an actual Android app.

949
00:59:11,432 --> 00:59:16,092
The other big thing is I think last week they did it live on air, but they added voice chat,

950
00:59:16,192 --> 00:59:22,792
which I think was pretty big. That's how a lot of people use these chat-based AIs.

951
00:59:22,792 --> 00:59:27,212
and they brought back document and image uploads,

952
00:59:28,072 --> 00:59:31,072
which is just an awesome feature

953
00:59:31,072 --> 00:59:32,372
because if you're running a business,

954
00:59:32,992 --> 00:59:34,472
you want to upload some documents

955
00:59:34,472 --> 00:59:35,792
to have the AI help you with it.

956
00:59:35,892 --> 00:59:38,012
You don't want to use like a chat GBT or something

957
00:59:38,012 --> 00:59:40,132
because you're just giving all your insider secrets

958
00:59:40,132 --> 00:59:42,732
and how you run your business to Sam Altman

959
00:59:42,732 --> 00:59:45,252
who wants to scan your eyeballs.

960
00:59:46,352 --> 00:59:49,392
So it's, I think, a very useful feature for teams,

961
00:59:50,192 --> 00:59:51,732
a very useful feature for individuals

962
00:59:51,732 --> 00:59:53,592
and they are running a promo right now

963
00:59:53,592 --> 00:59:58,132
that I believe the promo code is document20 for 20% off.

964
00:59:58,732 --> 00:59:59,032
Yes.

965
01:00:00,152 --> 01:00:03,092
And on that note, I saw Tony teasing earlier this week

966
01:00:03,092 --> 01:00:07,552
that your most requested feature is close to production.

967
01:00:08,932 --> 01:00:10,032
Any day now.

968
01:00:12,432 --> 01:00:13,232
It's coming.

969
01:00:14,032 --> 01:00:14,852
They're shipping quick.

970
01:00:15,552 --> 01:00:17,292
Guys, they're a two-man team,

971
01:00:17,592 --> 01:00:20,152
and they use AI to speed up their development.

972
01:00:20,152 --> 01:00:22,292
and it's been impressive a lot.

973
01:00:22,412 --> 01:00:26,552
Super lean, two-man team, mission-focused.

974
01:00:27,792 --> 01:00:27,812
Yeah.

975
01:00:28,092 --> 01:00:31,472
But yeah, that's the last piece that makes Maple

976
01:00:31,472 --> 01:00:35,012
absolute juggernaut is the real-time web search.

977
01:00:36,752 --> 01:00:39,152
It's easier said than done in a privacy way,

978
01:00:39,272 --> 01:00:41,892
so they're making sure they do it the right way,

979
01:00:42,552 --> 01:00:43,612
which I respect.

980
01:00:44,212 --> 01:00:46,632
Speaking of great presentations at the Imagine If conference,

981
01:00:46,972 --> 01:00:49,272
Marks gave a very good one.

982
01:00:50,152 --> 01:00:55,452
to really drive home the sort of fork in the road we find ourselves in as it pertains to

983
01:00:55,452 --> 01:01:02,092
where we're going to go with AI. Are we going to have privacy and are we going to be conditioned

984
01:01:02,092 --> 01:01:09,432
by the AI or is it going to be a tool that works for us? Because it's very easy to see how if we

985
01:01:09,432 --> 01:01:15,452
don't go in the right direction and we go down the corporate walled garden black box LLM system

986
01:01:15,452 --> 01:01:21,552
prompt route you can easily be conditioned by by the tool that your your think is working for you

987
01:01:21,552 --> 01:01:31,012
um so be aware that was a great inspirational presentation by mark i agree um i see top

988
01:01:31,012 --> 01:01:42,932
zap for the day commoner zapped freedom 98,765 sats thank you commoner wow we appreciate you

989
01:01:42,932 --> 01:01:44,032
Wow.

990
01:01:46,972 --> 01:01:48,972
And wow, I'm a little speechless.

991
01:01:49,192 --> 01:01:51,752
I'm just a six-figure zap right there.

992
01:01:52,172 --> 01:01:53,032
Shout out to you, Commoner.

993
01:01:53,452 --> 01:01:56,732
And then we got SavBTC, ride or die since 2018.

994
01:01:56,932 --> 01:01:57,712
Love you, Marty and Matt.

995
01:01:57,792 --> 01:01:59,092
Thank you for your service, fellas.

996
01:01:59,712 --> 01:02:03,752
Next meetup, Tuesday, October 14th, 7 p.m. at B&D Burgers.

997
01:02:03,752 --> 01:02:05,952
We will recap the last month of Bitcoin News.

998
01:02:06,052 --> 01:02:10,092
Hold a brief presentation on the Open Dime Bitcoin Stick.

999
01:02:10,712 --> 01:02:12,372
And welcome all new members.

1000
01:02:12,932 --> 01:02:16,692
be there i still love open times

1001
01:02:18,772 --> 01:02:26,452
the problem is like no computers have usb drive usb um you need an adapter for them

1002
01:02:26,496 --> 01:02:27,516
USB ports.

1003
01:02:27,716 --> 01:02:30,156
When I gift them for weddings and stuff,

1004
01:02:30,216 --> 01:02:31,476
I gift them with an adapter.

1005
01:02:32,576 --> 01:02:32,816
Yeah.

1006
01:02:33,936 --> 01:02:35,696
You buy a bunch of adapters

1007
01:02:35,696 --> 01:02:36,816
and just...

1008
01:02:36,816 --> 01:02:39,176
I feel like it's fucked up to give it to someone

1009
01:02:39,176 --> 01:02:41,416
and then they only have USB-C ports.

1010
01:02:42,596 --> 01:02:43,276
I love open dimes.

1011
01:02:43,736 --> 01:02:44,236
I love the orange.

1012
01:02:44,236 --> 01:02:44,856
I have so many.

1013
01:02:45,936 --> 01:02:47,016
I'm actually running low.

1014
01:02:47,056 --> 01:02:48,096
Yeah, the orange is clean.

1015
01:02:49,156 --> 01:02:50,076
I'm running low.

1016
01:02:50,916 --> 01:02:51,836
MBK, if you're listening,

1017
01:02:52,036 --> 01:02:53,156
I need more open dimes.

1018
01:02:56,496 --> 01:03:03,396
open dime great wedding gift sats card great wedding gift too sats card's much easier much

1019
01:03:03,396 --> 01:03:09,316
more approachable i i i first of all have a this is crazy this is like cypherpunk this is like

1020
01:03:09,316 --> 01:03:15,396
hardcore cypherpunk right yeah i think the open dime is it hits harder as a gift i lean i lean

1021
01:03:15,396 --> 01:03:23,996
usually to the open dime unless um i don't know sometimes uh the the sats card like it's cool that

1022
01:03:23,996 --> 01:03:25,996
You can just tap on the back of the phone and see the amount.

1023
01:03:27,436 --> 01:03:31,276
But it doesn't hit nearly as hard as gifting someone an open dime.

1024
01:03:31,936 --> 01:03:37,856
Yeah, you're holding that and you feel like you have something with the codes to a nuclear weapon in it.

1025
01:03:37,856 --> 01:03:39,916
By the way, you know what I figured out?

1026
01:03:42,236 --> 01:03:43,256
I figured out.

1027
01:03:43,356 --> 01:03:46,296
I mean, it should be pretty obvious to people, but maybe they haven't considered it.

1028
01:03:46,296 --> 01:03:52,016
if you are sending someone a open dime or sats card in the mail

1029
01:03:52,016 --> 01:04:01,456
you can initialize it ahead of time sats card you know already has a qr code on the back

1030
01:04:01,456 --> 01:04:07,676
but with the open dime you can initialize it ahead of time record the address ship it to them

1031
01:04:07,676 --> 01:04:13,596
and then in the card tell them to tell me when you get it and then send the bitcoin so if it

1032
01:04:13,596 --> 01:04:18,176
gets lost in the mail you don't lose the bitcoin that's just kind of cool and for anybody who's

1033
01:04:18,176 --> 01:04:24,776
unaware when matt saying initialize the open dime to have certainty that you have to create the

1034
01:04:24,776 --> 01:04:33,176
private key first and you do that by creating by putting a random uh picture jpeg file um any kind

1035
01:04:33,176 --> 01:04:39,896
of file i think yeah but yeah yeah to add that random adds a level of randomness yeah

1036
01:04:39,896 --> 01:04:45,556
um cypherpunk stuff we're gonna get back to our cypherpunk roots

1037
01:04:45,556 --> 01:04:51,996
that was uh i got a lot of pushback from the macadamia newsletter not a lot but there was

1038
01:04:51,996 --> 01:04:57,616
why why why are you pushing people towards these custodial solutions it's like come on

1039
01:04:57,616 --> 01:05:03,456
it's incredibly cypherpunk the fact that i can sell bitcoin sorry excuse me send bitcoin

1040
01:05:03,456 --> 01:05:05,836
via iMessage, via eCash.

1041
01:05:06,596 --> 01:05:08,136
Yes, the mints are centralized,

1042
01:05:08,476 --> 01:05:10,916
but the privacy benefits are massive.

1043
01:05:11,216 --> 01:05:12,136
Everything comes with trade-offs.

1044
01:05:12,376 --> 01:05:13,916
And usability benefits.

1045
01:05:14,416 --> 01:05:16,076
It's incredibly programmable.

1046
01:05:16,216 --> 01:05:17,296
You can use it offline.

1047
01:05:18,596 --> 01:05:21,136
I think you think of it as spending cash.

1048
01:05:21,536 --> 01:05:23,956
If I have $200 in my back pocket

1049
01:05:23,956 --> 01:05:26,436
and I go out to eat

1050
01:05:26,436 --> 01:05:27,936
and I go out on Main Street or whatever,

1051
01:05:28,736 --> 01:05:29,676
I go down to Broadway

1052
01:05:29,676 --> 01:05:31,076
and I lose the $200,

1053
01:05:31,636 --> 01:05:32,836
my family is fine.

1054
01:05:33,456 --> 01:05:38,136
And then once you have more money, you bring it into self-custody.

1055
01:05:39,396 --> 01:05:42,136
And it's an interesting – it's a double standard, right?

1056
01:05:42,196 --> 01:05:46,856
Because it's like every Bitcoin influencer is joining the board of Bitcoin penny stock right now.

1057
01:05:47,676 --> 01:05:57,396
And new users are like aping into these leveraged Bitcoin stock plays where they're just selling you stock and issuing debt to buy Bitcoin.

1058
01:05:57,396 --> 01:06:01,316
It's like literally like, send me Bitcoin, I'll send you two back.

1059
01:06:01,316 --> 01:06:07,236
and tons of people are aping into the etfs well it's like okay well i'm like on the sovereign

1060
01:06:07,236 --> 01:06:15,996
privacy focus side like we have a programmable bearer instrument um that that works way better

1061
01:06:15,996 --> 01:06:22,976
and has similar trust model uh so i think it's i think it's cool and it doesn't require soft

1062
01:06:22,976 --> 01:06:32,796
fork doesn't require any change. I think some people try and gaslight me and put words in my

1063
01:06:32,796 --> 01:06:39,096
mouth because I donate so much of my time to OpenSats and focused on building that out.

1064
01:06:39,936 --> 01:06:43,876
But I actually am incredibly conservative when it comes to protocol changes on Bitcoin.

1065
01:06:44,236 --> 01:06:51,056
I do not think the Bitcoin protocol should be changed unless absolutely necessary. I lean way

1066
01:06:51,056 --> 01:06:53,676
closer to ossification than the opposite side.

1067
01:06:54,516 --> 01:07:00,236
And the cool thing about things like Cashew and Fetiment and the current implementations

1068
01:07:00,236 --> 01:07:02,996
of ARK and Spark is that they don't require any changes to Bitcoin.

1069
01:07:03,716 --> 01:07:04,736
They just work today.

1070
01:07:05,336 --> 01:07:07,036
And that will come with certain trade-offs.

1071
01:07:07,696 --> 01:07:12,136
And the important thing is that users understand those trade-offs and those risks and are able

1072
01:07:12,136 --> 01:07:17,556
to make an educated decision on which tools are right for the situation.

1073
01:07:19,956 --> 01:07:20,816
Completely agree.

1074
01:07:21,056 --> 01:07:44,036
I think when it comes to protocol changes, there is a ton of low-hanging fruit that has not been explored in terms of what we can do to better utilize Bitcoin UTXOs on-chain and to better extend those UTXOs via second-layer protocols like Lightning, eCash, Chomimint protocols like Cashew and Fetty Mint, Liquid even.

1075
01:07:44,036 --> 01:07:49,236
I know we've been hating on Liquid for years, but I'll give it some shine, ARK, many others, Spark.

1076
01:07:49,236 --> 01:07:52,576
Marty do you see what your clickbait

1077
01:07:52,576 --> 01:07:53,596
Caused in the comments

1078
01:07:53,596 --> 01:07:56,276
Yeah no Jason Miller I see you going off brother

1079
01:07:56,276 --> 01:07:57,816
Don't worry we're not pro

1080
01:07:57,816 --> 01:08:00,176
CBDC here

1081
01:08:00,176 --> 01:08:02,736
We're trying to pull you in so we can talk shit on the CBDC

1082
01:08:02,736 --> 01:08:04,376
Don't worry we're talking about freedom money here

1083
01:08:04,376 --> 01:08:05,316
Freedom privacy

1084
01:08:05,316 --> 01:08:07,516
We're anti-digital ID

1085
01:08:07,516 --> 01:08:09,016
Marty just

1086
01:08:09,016 --> 01:08:10,856
I didn't make that

1087
01:08:10,856 --> 01:08:12,436
Clickbait on YouTube

1088
01:08:12,436 --> 01:08:14,376
Logan when did you make the title on YouTube

1089
01:08:14,376 --> 01:08:16,596
This guy put like 8 YouTube

1090
01:08:16,596 --> 01:08:18,996
It's probably because of the second thumbnail

1091
01:08:18,996 --> 01:08:24,376
what thumbnail did you use logan you can see it in the chat

1092
01:08:24,376 --> 01:08:32,896
what did you do oh my god it's just your thumbnails we need digital ids

1093
01:08:32,896 --> 01:08:36,036
that's not the i made the one before that

1094
01:08:36,036 --> 01:08:42,796
well no wonder jason thinks that's that we're supporting digital ids

1095
01:08:42,796 --> 01:08:46,696
it's like you put it in all caps we need digital ids as the thumbnail

1096
01:08:46,696 --> 01:08:47,096
Yeah.

1097
01:08:47,856 --> 01:08:51,636
Jason, we've dedicated our lives to trying to make those obsolete.

1098
01:08:52,456 --> 01:08:52,636
Yeah.

1099
01:08:52,676 --> 01:08:55,436
The idea with that thumbnail is to make it seem like here, uh,

1100
01:08:55,436 --> 01:08:59,196
star, the UFA prime minister saying that we're not saying what you're saying.

1101
01:08:59,196 --> 01:09:00,936
And we're going to get to exactly.

1102
01:09:01,096 --> 01:09:04,896
I can see how you, I can see how you read it wrong. Thanks, Logan. Um,

1103
01:09:05,036 --> 01:09:09,636
Eric can't meme zap 21,000 sets zapping freedom money from 30,000 feet.

1104
01:09:09,876 --> 01:09:11,136
Love to see it.

1105
01:09:11,736 --> 01:09:14,636
Vakes up 21,000 sets as well. Said, check out the website.

1106
01:09:14,716 --> 01:09:15,396
I vibe coded.

1107
01:09:15,396 --> 01:09:23,236
bitcointutorials.org i'm pushing out a major update tonight that'll overhaul the ux

1108
01:09:23,236 --> 01:09:30,616
of the site and add more videos shout out vick ride or die freak for years great domain

1109
01:09:30,616 --> 01:09:36,236
how long you been holding on to that one for that's definitely a that's definitely a

1110
01:09:36,236 --> 01:09:41,236
pre-2020 domain pickup there yeah i'm gonna i'm gonna say

1111
01:09:41,236 --> 01:09:49,236
moving along last software update white noise version two two two two what is it

1112
01:09:49,776 --> 01:09:59,856
1.0.4 has been released faster stronger cleaner what do they have stability and performance

1113
01:09:59,856 --> 01:10:11,946
upgrades a lot of ui ux polish for those that are unaware white noise is a Nostra client that really trying to improve

1114
01:10:11,946 --> 01:10:15,266
the DM experience as it pertains to privacy.

1115
01:10:16,546 --> 01:10:18,386
Historically, Nostra DMs.

1116
01:10:18,386 --> 01:10:24,906
They're trying to build an open, permissionless signal alternative.

1117
01:10:25,666 --> 01:10:29,506
So the goal is something that works as well as signal,

1118
01:10:29,506 --> 01:10:35,986
is easy to use as Signal, but doesn't rely on centralized Signal servers and uses the open

1119
01:10:35,986 --> 01:10:44,406
identity system provided by Nostar. So you can use your current social graph in order to chat

1120
01:10:44,406 --> 01:10:50,786
with people. No phone number required, no email, incredibly private, easy to use. It's very early.

1121
01:10:52,646 --> 01:10:56,626
They're working on reliability. They're iterating over time. They're building in the public.

1122
01:10:56,626 --> 01:10:59,146
but it's a project that I'm very excited about.

1123
01:11:02,086 --> 01:11:04,626
But yeah, Logan, can you change that thumbnail?

1124
01:11:07,046 --> 01:11:08,566
Put it back to the one that I made.

1125
01:11:09,566 --> 01:11:10,466
Yeah, I guess.

1126
01:11:10,986 --> 01:11:12,406
Anything's better than what you did.

1127
01:11:12,726 --> 01:11:13,846
Just black box.

1128
01:11:16,726 --> 01:11:21,006
Jason, Jason, we explained it well enough for Jason.

1129
01:11:21,266 --> 01:11:21,946
He apologized.

1130
01:11:22,106 --> 01:11:22,746
You don't need to apologize.

1131
01:11:22,746 --> 01:11:23,406
It was our fault.

1132
01:11:23,426 --> 01:11:24,126
He apologized.

1133
01:11:24,126 --> 01:11:25,846
We appreciate the passion.

1134
01:11:25,846 --> 01:11:29,146
I'm glad anytime you see that kind of thumbnail on YouTube,

1135
01:11:29,146 --> 01:11:30,986
just immediately slam the comments.

1136
01:11:31,506 --> 01:11:33,086
You did everything right.

1137
01:11:33,686 --> 01:11:33,866
Yeah.

1138
01:11:34,326 --> 01:11:35,066
It was our fault.

1139
01:11:35,546 --> 01:11:37,126
And Jason, if you're new to the show, stick around.

1140
01:11:37,806 --> 01:11:38,546
Maybe subscribe.

1141
01:11:38,546 --> 01:11:39,466
Yeah, press the subscribe button.

1142
01:11:40,046 --> 01:11:43,066
I think we're very ideologically and philosophically aligned.

1143
01:11:43,206 --> 01:11:43,846
I can tell from the comments.

1144
01:11:43,846 --> 01:11:45,186
Yeah, we seem like we're friends already.

1145
01:11:48,546 --> 01:11:51,106
On this note, digital freedom.

1146
01:11:52,686 --> 01:11:54,146
We're going to talk about the UK,

1147
01:11:54,146 --> 01:11:59,086
But first, we have to go over, stay local here in the United States, California.

1148
01:11:59,266 --> 01:12:02,926
This has gone under the radar, not really talked about as much.

1149
01:12:03,026 --> 01:12:04,666
I think I actually credit where credit's due.

1150
01:12:04,746 --> 01:12:08,366
I do think I've heard the all-in guys talk about this a couple times over the last few months.

1151
01:12:08,586 --> 01:12:15,466
But it's been pretty silent across the board outside of this week, people finally waking up.

1152
01:12:15,466 --> 01:12:25,786
But Bill SB 771 has passed the California Senate and is sitting on Gavin Newsom's desk to be signed into law.

1153
01:12:26,166 --> 01:12:40,066
And basically what this bill outlines is an attempt to circumnavigate Section 230, which historically has given social media platforms amnesty from being responsible for what their users post on the platform.

1154
01:12:40,066 --> 01:12:46,566
section 230 says if you run a platform and people are posting on it you are not liable for what

1155
01:12:46,566 --> 01:12:53,106
your users say but it looks like the california legislators are trying to find a loophole

1156
01:12:53,106 --> 01:12:58,546
and that loophole is the algorithms um and so logan if you go down to the third screenshot

1157
01:12:58,546 --> 01:13:09,926
with the red text uh deep in the bill uh section 3273.73 uh 3b1 says for purposes

1158
01:13:09,926 --> 01:13:16,046
of this section deploying an algorithm that relays content to users may be considered to be an act of

1159
01:13:16,046 --> 01:13:21,906
the platform independent from the message of the content relayed so it looks like the california

1160
01:13:21,906 --> 01:13:27,846
legislator is saying yes your users are posting on your platform you're not responsible for that

1161
01:13:27,846 --> 01:13:35,686
however you do use these algorithms to surface content to the the broader user base of your of

1162
01:13:35,686 --> 01:13:43,766
your platforms and that act may be viewed as um the platform acting independently and concerning

1163
01:13:43,766 --> 01:13:52,986
speech i mean look it is that is the case like that is factually true um it is something that

1164
01:13:52,986 --> 01:14:00,206
we have highlighted on the past in the show uh like the whole point of section 230 the whole

1165
01:14:00,206 --> 01:14:07,466
idea of the carve out was that a platform is not involved in the content you see. They're just

1166
01:14:07,466 --> 01:14:13,986
showing you content that other people have posted. When it comes to algorithms, like,

1167
01:14:13,986 --> 01:14:17,206
first of all, they're black boxes. And second of all, they're choosing what you see,

1168
01:14:17,346 --> 01:14:23,486
and they're serving it up to you. So at least like, from like a logic point of view,

1169
01:14:24,106 --> 01:14:29,166
and maybe even a moral point of view, there makes sense that there's liability there on what you

1170
01:14:29,166 --> 01:14:35,046
show people and when you show it. I will say that you said All In covered it. I'm pretty sure they

1171
01:14:35,046 --> 01:14:40,066
were arguing for breaking Section 230 on these exact same grounds, but from the Republican side

1172
01:14:40,066 --> 01:14:47,626
on the federal level and saying that Twitter pre-Elon and Zuck and whatnot, like David Sachs

1173
01:14:47,626 --> 01:14:55,626
has talked about this a bunch, reliable for what trends and what you see on the algo feed and who

1174
01:14:55,626 --> 01:15:02,186
gets banned and who gets demonetized and decreased and increased and wanted to break Section 230.

1175
01:15:02,886 --> 01:15:07,386
So as we were talking about last week, I think this is a cross-partisan issue.

1176
01:15:08,066 --> 01:15:13,646
I think there's people on both sides here that want to see restrictions on speech.

1177
01:15:13,646 --> 01:15:23,906
I think the timing is quite hilarious since the current administration has moved in the

1178
01:15:23,906 --> 01:15:29,266
hate speech department, right? The quote unquote hate speech department. And then once that happens,

1179
01:15:29,266 --> 01:15:34,526
the big problem is it gets very vague. It gets super, super vague on where the enforcement

1180
01:15:34,526 --> 01:15:39,466
happens. Like what does California decide to enforce and what do they not try to enforce?

1181
01:15:40,166 --> 01:15:46,886
And it's going to be used against political enemies. Like that's pretty much a certainty,

1182
01:15:47,246 --> 01:15:51,706
regardless of which side. Yeah. That was the question I had when I wrote the newsletter,

1183
01:15:51,706 --> 01:15:56,786
Like, does this only pertain to speech against California residents?

1184
01:15:57,986 --> 01:16:11,566
And I think that's sort of the point of bills like this is to be as broad and vague as possible to coerce the platforms to simply just censor speech preemptively.

1185
01:16:11,766 --> 01:16:14,686
They preemptively comply, yeah, because they don't want to fight the court cases.

1186
01:16:14,686 --> 01:16:18,406
but then you will have

1187
01:16:18,406 --> 01:16:22,186
you will have court cases

1188
01:16:22,186 --> 01:16:24,466
I mean I think the other piece here is

1189
01:16:24,466 --> 01:16:26,386
I think the TikTok

1190
01:16:26,386 --> 01:16:28,326
bill had a

1191
01:16:28,326 --> 01:16:30,146
concept like this

1192
01:16:30,146 --> 01:16:33,466
at the federal level

1193
01:16:33,466 --> 01:16:36,066
about the algo specifically

1194
01:16:36,066 --> 01:16:38,586
about algo breaking

1195
01:16:38,586 --> 01:16:40,606
section 230 about how you don't have

1196
01:16:40,606 --> 01:16:42,646
section 230 protections if you have

1197
01:16:42,646 --> 01:16:43,906
an algo feeding people

1198
01:16:43,906 --> 01:16:50,966
content that you're inherently at a level of liability in there rather than just

1199
01:16:50,966 --> 01:16:55,126
sending out raw content feeds or distributing raw content feeds

1200
01:16:55,126 --> 01:17:02,666
yeah this is where we get into like very vague philosophical discussions because section 230 stems

1201
01:17:02,666 --> 01:17:07,066
from newspapers originally correct like opinion pieces

1202
01:17:07,066 --> 01:17:10,946
I think so

1203
01:17:10,946 --> 01:17:13,726
but no I think it was early days of tech

1204
01:17:13,726 --> 01:17:15,846
it was like tech would have literally

1205
01:17:15,846 --> 01:17:17,066
been screwed if

1206
01:17:17,066 --> 01:17:18,586
they didn't have

1207
01:17:18,586 --> 01:17:21,086
section 230

1208
01:17:21,086 --> 01:17:23,566
when

1209
01:17:23,566 --> 01:17:25,246
did section 230

1210
01:17:25,246 --> 01:17:26,886
get created

1211
01:17:26,886 --> 01:17:29,746
I'm going to ask why was it created

1212
01:17:29,746 --> 01:17:31,726
see what we got

1213
01:17:31,726 --> 01:17:34,086
communications decency act

1214
01:17:34,086 --> 01:17:35,226
passed 96

1215
01:17:35,226 --> 01:17:40,226
Yeah, it's internet specific.

1216
01:17:40,226 --> 01:17:41,646
All right.

1217
01:17:41,706 --> 01:17:51,396
My argument is out the window I was going to say it not to to say that the curation of where stories are played is it sort of bias

1218
01:17:52,856 --> 01:17:53,096
I,

1219
01:17:53,276 --> 01:17:53,616
um,

1220
01:17:54,856 --> 01:17:55,276
look,

1221
01:17:55,316 --> 01:17:55,516
I mean,

1222
01:17:55,516 --> 01:17:57,576
I think the alternative is,

1223
01:17:58,096 --> 01:18:04,196
is I think if you don't default to an algorithm and you give users choice,

1224
01:18:04,196 --> 01:18:07,456
then you can be protected by it still.

1225
01:18:08,356 --> 01:18:08,776
Um,

1226
01:18:09,396 --> 01:18:09,976
you know,

1227
01:18:10,056 --> 01:18:10,576
I think,

1228
01:18:10,756 --> 01:18:11,196
uh,

1229
01:18:11,196 --> 01:18:20,296
uh naster does this by design because users can use it as they see fit without permission and they

1230
01:18:20,296 --> 01:18:27,516
can use any app they want that supports it um but i you know the the walled garden platforms

1231
01:18:27,516 --> 01:18:33,476
historically the algo has been their bread and butter because it boosted addiction and increases

1232
01:18:33,476 --> 01:18:39,596
retention and they're able to track more users and serve more ads and and that's what they want to do

1233
01:18:39,596 --> 01:18:43,396
and control the speech.

1234
01:18:43,656 --> 01:18:45,476
But that's the secondary element, right?

1235
01:18:45,496 --> 01:18:47,036
Like the main element is just greed

1236
01:18:47,036 --> 01:18:48,076
and making a shit ton of money

1237
01:18:48,076 --> 01:18:49,216
on the ad surveillance model.

1238
01:18:51,216 --> 01:18:55,216
And if Section 230 gets either full off repealed

1239
01:18:55,216 --> 01:18:57,116
or basically just carved around

1240
01:18:57,116 --> 01:18:58,376
because of this algo stuff,

1241
01:18:58,936 --> 01:19:01,656
then you're going to have to give people algo choice,

1242
01:19:01,956 --> 01:19:03,176
default to no algo.

1243
01:19:03,936 --> 01:19:05,296
Just give, people don't remember

1244
01:19:05,296 --> 01:19:06,656
the early days of social

1245
01:19:06,656 --> 01:19:08,316
was just a straight chronological feed.

1246
01:19:08,316 --> 01:19:14,476
that's how it originally started well that's still all i consume max mainly is list which is

1247
01:19:15,116 --> 01:19:19,996
chronological straight chronological nobleists that i've curated defaults are powerful

1248
01:19:19,996 --> 01:19:30,196
right like the the majority are just scrolling the rage feed yeah and x does a better job

1249
01:19:30,196 --> 01:19:38,296
than a lot of the other ones in that they do make it easy to switch to chronological and i do think

1250
01:19:38,296 --> 01:19:40,396
the concept that Elon has

1251
01:19:40,396 --> 01:19:42,516
about creating

1252
01:19:42,516 --> 01:19:44,616
custom feeds using Grok

1253
01:19:44,616 --> 01:19:48,796
is from like a UX

1254
01:19:48,796 --> 01:19:50,776
perspective like the ideal

1255
01:19:50,776 --> 01:19:52,636
situation for algo choice like

1256
01:19:52,636 --> 01:19:54,556
that flow if done

1257
01:19:54,556 --> 01:19:56,596
right and done in a transparent way

1258
01:19:56,596 --> 01:19:58,676
could be incredibly

1259
01:19:58,676 --> 01:20:00,556
powerful I think it gives users a lot of

1260
01:20:00,556 --> 01:20:02,616
agency I'd like to see that in

1261
01:20:02,616 --> 01:20:04,036
apps like Primal

1262
01:20:04,036 --> 01:20:06,116
as well

1263
01:20:06,116 --> 01:20:07,836
yeah

1264
01:20:07,836 --> 01:20:27,136
And I know I mentioned that these legislators like to make the language broad and vague, but one very specific line item in this bill is that it only pertains to social media platforms with more than $100 million in gross revenue per year.

1265
01:20:27,636 --> 01:20:33,716
And so as a – pulling Noster into this, where does the line blur there?

1266
01:20:33,976 --> 01:20:35,276
Is Noster's open protocol?

1267
01:20:36,116 --> 01:20:37,896
Well, I think it would be on a per app basis.

1268
01:20:40,036 --> 01:20:43,196
I mean, the other thing is that UK Online Safety Act,

1269
01:20:43,256 --> 01:20:44,256
most people don't talk about that.

1270
01:20:44,336 --> 01:20:45,356
That also has a carve out.

1271
01:20:45,756 --> 01:20:47,456
I think it's based on user numbers.

1272
01:20:48,456 --> 01:20:51,756
But you have to have a certain number of users to be, you know,

1273
01:20:51,776 --> 01:20:55,356
have to implement that like UK KYC social thing.

1274
01:20:57,156 --> 01:21:00,336
But those limits, you know, can always be changed.

1275
01:21:00,336 --> 01:21:03,056
They won't be adjusted with population, that's for sure.

1276
01:21:05,276 --> 01:21:11,336
But yeah, I mean, it'd be great to see Primal making $100 million in revenue.

1277
01:21:12,016 --> 01:21:13,776
And then we can deal with it when we get there.

1278
01:21:15,236 --> 01:21:15,256
Yeah.

1279
01:21:16,516 --> 01:21:17,336
Be aware.

1280
01:21:19,336 --> 01:21:20,036
Be aware, yeah.

1281
01:21:20,076 --> 01:21:21,956
So this is sitting on Gavin Newsom's desk.

1282
01:21:22,176 --> 01:21:23,256
And that's the question.

1283
01:21:23,356 --> 01:21:25,036
That's the set of precedent, as you mentioned.

1284
01:21:25,576 --> 01:21:29,656
This is a bipartisan, somewhat cross-the-isle issue.

1285
01:21:29,796 --> 01:21:34,836
I think both sides want to implement it in their own way, but they both seem pretty keen.

1286
01:21:35,276 --> 01:21:43,576
on censorship of certain ideas, censorship of the ideas that they don't like, and going full bore ahead.

1287
01:21:44,016 --> 01:21:49,336
You mentioned the UK. Not only do they have those censorship laws, but they're expanding.

1288
01:21:49,696 --> 01:21:59,116
This was breaking news earlier today. Via Sky News, it seems like here, Starmer, Jason, this is why he's on the thumbnail.

1289
01:21:59,116 --> 01:22:06,676
So he came out and announced that they're going to make digital ID systems, digital IDs mandatory.

1290
01:22:07,276 --> 01:22:17,036
And they're running with the narrative, which we've been prepping everybody for, for the better part of, I think, since Trump got into office last year here in the United States.

1291
01:22:17,696 --> 01:22:22,056
Trump, too, his policy really revolves around immigration reform.

1292
01:22:22,056 --> 01:22:29,396
And it's pretty obvious to anybody paying attention that immigration is going to be used as an excuse to thrust a digital ID on the populace.

1293
01:22:29,756 --> 01:22:43,096
We need to bag and tag everybody with digital IDs to make sure that they're actual U.S. citizens that are supposed to be working and are legally allowed to obtain jobs and incomes in the United States.

1294
01:22:43,236 --> 01:22:45,096
If you're an illegal immigrant, you don't have a digital ID.

1295
01:22:45,276 --> 01:22:46,256
You're not going to be able to get a job.

1296
01:22:46,256 --> 01:22:53,656
There was some choreographing about that here in the United States, but it seems like the UK is set on front running the United States.

1297
01:22:53,896 --> 01:22:56,176
And so they're implementing digital IDs.

1298
01:22:56,456 --> 01:22:58,016
They're making it mandatory for adults.

1299
01:22:58,356 --> 01:23:00,876
I don't know what the threshold for an adult is, 18, 21.

1300
01:23:01,396 --> 01:23:04,176
We'll see what they land on.

1301
01:23:04,356 --> 01:23:10,176
But using this exact excuse, they want to stop the boats.

1302
01:23:10,176 --> 01:23:13,896
and so they're going to make digital IDs mandatory

1303
01:23:13,896 --> 01:23:18,076
to stop illegal immigrants from working

1304
01:23:18,076 --> 01:23:21,676
is justification in the UK right now.

1305
01:23:25,776 --> 01:23:26,536
Yeah.

1306
01:23:28,056 --> 01:23:31,576
I mean, it definitely feels like a manufactured crisis

1307
01:23:31,576 --> 01:23:35,656
to then propose a quote-unquote solution.

1308
01:23:36,536 --> 01:23:36,736
Yeah.

1309
01:23:36,736 --> 01:23:48,436
And it's funny because the Labor Party, which I believe Kier Starmer is a part of, they were the ones who really opened up the borders and enabled the immigration to come in.

1310
01:23:48,496 --> 01:23:50,716
Now they're like, oh, we need to fix it with digital ID.

1311
01:23:51,476 --> 01:23:58,996
But you also don't need to be the cause of it to also use it as the excuse.

1312
01:23:59,296 --> 01:24:00,416
Like it could have been an accident.

1313
01:24:01,116 --> 01:24:03,396
I mean maybe they didn't realize how bad it would get.

1314
01:24:03,396 --> 01:24:09,836
But I mean if you want to give them an even shred of a benefit of doubt.

1315
01:24:09,996 --> 01:24:11,916
But I mean the perfect example is the US, right?

1316
01:24:11,976 --> 01:24:14,116
It's like the Biden administration opened the borders.

1317
01:24:14,756 --> 01:24:17,816
The Trump administration is using it as an excuse to palantir us all.

1318
01:24:18,796 --> 01:24:20,696
It doesn't have to be the same.

1319
01:24:22,216 --> 01:24:32,596
Whenever there is a perceived problem by the masses, it's a perfect excuse to use to push more control because it's hard to argue against because there's actually a problem.

1320
01:24:33,396 --> 01:24:57,096
We talked about this last week. I do think youth are being radicalized in niche online communities. That is a true problem. I don't think the solution is to restrict speech and add KYC to the internet. But it's a real problem that is going to be hard to mitigate and solve in a freedom-focused way. And as a result, it makes it very difficult to argue against it.

1321
01:24:57,096 --> 01:25:04,256
yeah well yeah it makes very difficult to argue it against against it but also

1322
01:25:04,256 --> 01:25:11,276
like the solutions in the uk and i think ultimately the trump administration will lean into this at

1323
01:25:11,276 --> 01:25:15,956
some point whether they use immigration or this online radicalization as the i mean when was the

1324
01:25:15,956 --> 01:25:20,556
last time you went through customs right it's like they scan your face they like take a blood

1325
01:25:20,556 --> 01:25:34,286
sample all your fingerprints and shit like and we not that far it been trending yeah yeah they don take blood simply yet no i think we said this last week i forget it was if we said a rabbit hole recap or i said

1326
01:25:34,286 --> 01:25:40,406
somewhere else on tftc like you need to force the focus of discussion on actually solving

1327
01:25:40,406 --> 01:25:44,786
the core issues like yes we should secure the border it doesn't mean we need digital ids

1328
01:25:44,786 --> 01:25:49,966
yes there is online radicalization radicalization going on why is that happening why are

1329
01:25:49,966 --> 01:25:56,106
the youth so disillusioned how are they getting these bad ideas in their mind what

1330
01:25:56,106 --> 01:26:03,326
um are the core of those issues i think they're economic and health driven well we had this we

1331
01:26:03,326 --> 01:26:08,066
had this conversation on that subject specifically here in nashville at imagine if this weekend

1332
01:26:08,066 --> 01:26:16,766
um where i mean i think that the best solution to you know youth and the internet is giving

1333
01:26:16,766 --> 01:26:22,906
parents more tools, like give us better tools to parent our children. And then ultimately,

1334
01:26:22,906 --> 01:26:29,026
it's the parent's responsibility to actually be a good parent, which is how it's always been in

1335
01:26:29,026 --> 01:26:33,606
our society. But parents don't have the tools in the digital age. I mean, I was talking to Sean

1336
01:26:33,606 --> 01:26:40,146
specifically, it seems like such an obvious product for Apple. Like, how does Apple not have

1337
01:26:40,146 --> 01:26:47,186
like a full-on parental mode where you know the parent has control over the iphone or the ipad or

1338
01:26:47,186 --> 01:26:53,586
whatever that the mac and is able to do fine-tuned controls on how they want their kid to use it

1339
01:26:53,586 --> 01:26:58,886
and the reason i single out apple is because they have complete vertical integration over

1340
01:26:58,886 --> 01:27:02,446
their hardware and software like if anyone could pull it off in a ux friendly way it's them

1341
01:27:02,446 --> 01:27:09,146
and so give give parents the tools to to help us be better parents is is the answer it's not a

1342
01:27:09,146 --> 01:27:16,546
perfect answer but it straddles the balance between freedom and mitigation yeah i mean and

1343
01:27:16,546 --> 01:27:22,546
beyond the tech solutions i think the onus is on parents to be hyper vigilant yeah and intentional

1344
01:27:22,546 --> 01:27:31,446
with how they enable and allow their kids to interact with this stuff 100 i mean we over here

1345
01:27:31,446 --> 01:27:39,706
we're trying to run a screen-free household but the key is like that's like uh uh you know that's

1346
01:27:39,706 --> 01:27:46,506
like a a bludgeoning tool it's like uh you there's not a fine-grained tool for parents it's like all

1347
01:27:46,506 --> 01:27:53,086
or nothing no and it's i think another there's got to be a middle ground but that's like the

1348
01:27:53,086 --> 01:27:56,886
only thing you can control once your kids get older they're having friends they start having

1349
01:27:56,886 --> 01:28:01,886
play dates like you can't control what the other parents of course not influence but um

1350
01:28:02,526 --> 01:28:12,326
you gotta be hyper that's where communities are important yeah exactly um so beware uk

1351
01:28:12,326 --> 01:28:18,746
you get digital it's a social problem wrapped into a tech problem and the answer is better tools

1352
01:28:18,746 --> 01:28:26,286
and then social and personal responsibility and and that responsibility word is so far gone in

1353
01:28:26,286 --> 01:28:32,426
our society our society is just like pull with bumpers right now like no like responsibility

1354
01:28:32,426 --> 01:28:37,846
is just getting eroded and eroded and eroded um and people are becoming lame because of it they're

1355
01:28:37,846 --> 01:28:43,146
just expecting not to take responsibility for things um what we need is people to take more

1356
01:28:43,146 --> 01:28:51,466
responsibility not less apparently my um well before i get to that but uh no great like what

1357
01:28:51,466 --> 01:28:58,206
in your mind because i i often have this discussion with my wife like where does the

1358
01:28:58,206 --> 01:29:04,526
line get drawn where you feel comfortable stepping in and say hey i really my son is over here

1359
01:29:04,526 --> 01:29:10,286
playing with your son or daughter like i really would prefer them not to watch this type of

1360
01:29:10,286 --> 01:29:17,446
programming or interact with the screens dude the screens one is easier than the seed oils we run a

1361
01:29:17,446 --> 01:29:22,366
seed oils free household oh my gosh that one's the hardest especially people that are more

1362
01:29:22,366 --> 01:29:27,846
cost-conscious right like whether it's tallow chips or avocado chips they're expensive as hell

1363
01:29:27,846 --> 01:29:35,466
um and so like they have all this trash food uh that's much more like the good thing is like i

1364
01:29:35,466 --> 01:29:41,626
think a lot of parents do realize like the danger of screens and social for like development and

1365
01:29:41,626 --> 01:29:49,926
And look, at the end of the day, I think, you know, it's always, it's a balancing act, but also you can't really help yourself.

1366
01:29:51,866 --> 01:29:56,466
Like, I think people need to, you know, build strong communities, right?

1367
01:29:56,466 --> 01:30:00,146
And I think it comes from a place of helping, right?

1368
01:30:00,146 --> 01:30:14,986
I want my friends who are parents whose kids are friends with my kids to be better parents and be better people and stack Bitcoin and not eat seed oils and be screen conscious.

1369
01:30:16,146 --> 01:30:20,886
And so whenever we're hanging out, it's the constant topic of conversations.

1370
01:30:21,146 --> 01:30:26,166
Like, you know, it's – I don't think we really talk about much else besides that.

1371
01:30:26,166 --> 01:30:28,086
Like I'm always constantly talking about it.

1372
01:30:28,086 --> 01:30:31,886
And I think that's the key is just, just banging it in there.

1373
01:30:32,906 --> 01:30:35,066
Yeah. And I think the,

1374
01:30:35,066 --> 01:30:40,706
the God mode hack to this is the wives had to convince each other.

1375
01:30:40,826 --> 01:30:45,126
They're not going to listen to us. That's,

1376
01:30:45,186 --> 01:30:47,626
I think that's been the most effective thing I've seen my wife.

1377
01:30:48,206 --> 01:30:50,986
We've been talking about it's guy to guy and wife to wife is what it is.

1378
01:30:50,986 --> 01:30:54,806
Yes. Yeah. And I've seen it in our community.

1379
01:30:54,806 --> 01:30:59,966
We moved back, but obviously we just moved back, but we're very close to family.

1380
01:31:00,226 --> 01:31:03,326
I live by my in-laws, my sister and brother-in-law.

1381
01:31:03,886 --> 01:31:10,646
A few of my cousins are within a half mile radius and all their houses are quickly becoming seed oil free.

1382
01:31:11,446 --> 01:31:15,626
I would like to give my wife a lot of credit for beginning that conversation many years ago.

1383
01:31:15,626 --> 01:31:30,326
No, I mean, I will say from our perspective, because we're men, like if you're a young single guy listening, like the single most important decision of your life is who you pick as your ultimate ride or die.

1384
01:31:30,326 --> 01:31:37,326
Like you need you need to pick a proper ride or die lady because it's all going to come down to that at the end.

1385
01:31:39,006 --> 01:31:42,166
Yeah, you're not going to raise a strong family without a strong lady.

1386
01:31:42,406 --> 01:31:44,926
So be very deliberate with the decision.

1387
01:31:45,626 --> 01:31:46,506
uh,

1388
01:31:46,926 --> 01:31:47,866
it can be overwhelming.

1389
01:31:49,306 --> 01:31:49,706
Uh,

1390
01:31:49,726 --> 01:31:52,286
but it is the single most important decision you're going to make in your

1391
01:31:52,286 --> 01:31:52,546
life.

1392
01:31:52,546 --> 01:31:54,506
So don't fuck it up.

1393
01:31:55,406 --> 01:31:55,806
Agreed.

1394
01:31:55,886 --> 01:31:57,146
Speaking of ride or die women,

1395
01:31:57,326 --> 01:31:59,086
my mom is a ride or die freak.

1396
01:31:59,226 --> 01:31:59,566
She's,

1397
01:31:59,686 --> 01:31:59,926
uh,

1398
01:32:00,266 --> 01:32:01,026
just texted me.

1399
01:32:01,066 --> 01:32:01,746
She loves the hat.

1400
01:32:01,926 --> 01:32:03,146
She loves the humble enough hat.

1401
01:32:03,646 --> 01:32:04,406
I love it.

1402
01:32:04,786 --> 01:32:05,586
She's asking where,

1403
01:32:05,666 --> 01:32:05,846
uh,

1404
01:32:05,846 --> 01:32:06,646
where she can get one.

1405
01:32:07,426 --> 01:32:08,406
I can ship her one.

1406
01:32:08,506 --> 01:32:09,446
Just send me an address.

1407
01:32:09,986 --> 01:32:10,606
You ship me too.

1408
01:32:10,646 --> 01:32:12,066
I'll give her the extra one that you ship me.

1409
01:32:12,446 --> 01:32:12,626
Oh,

1410
01:32:12,626 --> 01:32:12,926
perfect.

1411
01:32:13,766 --> 01:32:15,346
I shipped you two humble enough hats.

1412
01:32:15,626 --> 01:32:16,106
You did.

1413
01:32:17,106 --> 01:32:17,506
Like it,

1414
01:32:17,566 --> 01:32:18,006
like at me.

1415
01:32:18,746 --> 01:32:18,946
Yeah.

1416
01:32:21,146 --> 01:32:21,586
Um,

1417
01:32:21,786 --> 01:32:24,066
I think we're ending on a good note.

1418
01:32:24,166 --> 01:32:25,346
I think this is a good positive.

1419
01:32:25,706 --> 01:32:26,066
Yeah.

1420
01:32:26,146 --> 01:32:26,566
I love it.

1421
01:32:26,586 --> 01:32:27,326
I have a board meeting.

1422
01:32:27,866 --> 01:32:28,886
The world's crazy.

1423
01:32:29,146 --> 01:32:30,466
I have a positive board meeting.

1424
01:32:30,926 --> 01:32:31,326
Yeah.

1425
01:32:31,606 --> 01:32:32,206
Focus on,

1426
01:32:32,346 --> 01:32:33,246
focus on solutions,

1427
01:32:33,386 --> 01:32:36,686
focus on real life meat space conversations.

1428
01:32:37,726 --> 01:32:38,326
There are,

1429
01:32:38,886 --> 01:32:40,166
I love that description.

1430
01:32:40,166 --> 01:32:42,126
It's a social problem wrapped in tech.

1431
01:32:42,706 --> 01:32:43,066
Um,

1432
01:32:43,066 --> 01:32:45,766
you gotta focus on both

1433
01:32:45,766 --> 01:32:47,126
you gotta tackle from both ankles

1434
01:32:47,126 --> 01:32:50,006
meet space and the digital space

1435
01:32:50,006 --> 01:32:51,626
use the right tools

1436
01:32:51,626 --> 01:32:53,606
have the right conversations

1437
01:32:53,606 --> 01:32:55,966
and we'll get through this

1438
01:32:55,966 --> 01:32:57,166
we'll get through this

1439
01:32:57,166 --> 01:33:00,006
well said, love you Marty, love you Freak

1440
01:33:00,006 --> 01:33:01,006
stay on the stack sets

1441
01:33:01,006 --> 01:33:02,506
love y'all, peace and love