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I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins.
In the world of fiat currencies, Bitcoin is the victor.
I mean, that's part of the bull case for Bitcoin.
If you're not paying attention, you probably should be.
In our life.
This is our regularly scheduled time to do the podcast.
1 p.m. Central.
12 p.m. East Coast on a Thursday.
I think you got that around.
Oh, no, yeah.
It's not our regular time.
Oh, we're an hour early.
Yeah.
Two hours early.
No, we're usually...
We're usually 1 p.m. Central.
It is 11 Central right now.
It's 11.17.
Oh, yeah, fair enough.
We had to come up with a good clickbait thumbnail.
to draw all your freaks in.
Can we stop doing the clickbait?
I don't know.
I like it.
It's fun.
It's a fun mental experience.
I guess it's only for the YouTube people.
If you're sick of the clickbait,
join us on Primal.
Download Primal on your favorite app.
Did you see YouTube said
they were going to stop censoring
and anyone who they cut off during COVID,
they were going to allow back on.
And then Fuentes and Alex Jones
both joined and got like over 100,000 followers
without any videos and they immediately banned them.
Yep, I saw that.
And then they just came out.
Hey, we're easing the rollout of the repeal
of the censorship that we embarked on.
Is that what they said?
Did they actually come out with that?
What the hell does that even mean?
I don't know.
It's a way to save face.
Let me see if I can find it here.
But yeah, crazy week.
crazy week a lot going on crazy week as it pertains to censorship in the world we'll get to it um
but yeah youtube basically admitting google admits censorship under biden promises to end
bans of youtube accounts of thousands of americans censored for political speech
another cop out by the big tech firms the biden administration pressured google to censor americans
and to remove content that did not violate YouTube's policies.
The Biden administration's censorship pressure was unacceptable and wrong.
Public debate should never come at the expense of relying on authorities.
The company will never use third-party fact-checkers.
Again, Europe's censorship laws target American companies
and threaten American speech, including the removal of lawful content.
My guess is – I guess supposedly there was a subpoena involved in this,
but my guess is the real reason is that last piece is uh they they went to trump and they
were like you need to protect us from the europeans he's like you need to blame biden for what you did
i mean it was definitely the biden administration involvement like there was truth to it but they
were like you must release a statement that explicitly blames biden yeah and then we will
then we will back you yeah part four the company will never use third-party fact checkers
this channel if you're watching on YouTube
we got put on a list of one of those fact checkers
the Center for Countering Digital
Hate
our hateful content
was
in relation to climate change
the Center for Countering Digital Hate
did not like that we were
I remember that
talking against the climate change narrative
crazy times
don't trust, verify
that you have
unfettered open access
to the communications protocols and platforms that you interact with.
This is why we're very big advocates of Nostr
and are moving more and more of our digital social media lives to Nostr.
Where now we can see, shout out to the Primal team,
they fixed the UI bug on Firefox browser for the TopZap.
TopZap 21,000 sats from Zoomer Seth,
how we feel in freaks hitting the flow state on the extended returns.
that's a
reference to
accounting work
yes
final extension
thank you
thank you for our service
best accountants in the game
yeah
um
all right let's jump into the dashboard
should have made that bet
I mean if
if we had the bet last a full week
I would have won
if it was the first day
yeah I mean we both
we both kind of won
yeah
we didn't we didn't um yeah it would have come down to timeline because we pumped and then dumped
degen traders just got wrecked in both directions as is tradition yes
the nostril live chat is fucking popping right now love to see it so minor this is why we nostril
That is right, sir.
So last week, we met right before the FOMC meeting.
Jerome Powell cut by 25 bps.
There's been economic data.
The bet that we had is what was the price of Bitcoin going to be last Friday.
I said it would probably dump to around 113.
Matt said we're going to rip.
We did rip temporarily.
But now, according to Clark's dashboard, we're sitting at 111,540 cuck bucks.
And more importantly, Matt said he was willing to put money on it, and Marty bailed out on that.
You know, you've been in this market long enough, you know you can't time it.
It's time in the market.
I had a feeling it was going to dump.
Sats are on sale, 898 sats per cuck buck.
We're at a $2.22 trillion market cap.
We are at block height.
Where are you?
916,345, which means we had a difficulty adjustment.
No, we didn't.
which means we have a difficulty adjustment in 935 blocks or October 1st.
So that should happen between this rip and next week's episode.
As of right now, it's looking like an upwards adjustment of 6.3%.
Blocks are coming in at nine minutes and 25 seconds on average.
Just to stop here and comment on this, I believe last week
when we were talking about the sort of consecutive increases
and difficulty adjustment and hash rate being over Zeta Hash,
we referenced Heather and their influence on the mining market specifically.
But I think after being at the Imagine If conference last week in Nashville
and talked to a bunch of miners, there could be another influence as well.
First, shout out to Rod, Matt, everybody at Bitcoin Park,
Kathy Wood, everybody at ARK Investment.
It was an incredible weekend in Nashville.
I do too.
The fact that the proximity of my birth,
of the birth of my third child,
I was only going to make it for Imagine If,
so I didn't get to the custody summit.
But the two days I spent, Friday and Saturday,
were incredible.
Bang up job.
My rod and team.
But, no, go ahead.
No, vibes are high.
Vibes are very high.
Four days of great people and great content.
Yeah.
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.
They just want to expand hash rate and really lean into it and I guess get rid of some of their cash.
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.
And it seems like a bunch of people in that position are buying ASICs and plugging them in.
for sort of tax arbitrage play.
So I think that could be influencing
hash rate as well right now.
And then, I mean, you have the opposite side
of the equation, which is like,
it seems to be the trend that with the big miners,
they're going more and more into AI compute.
Matt, I see you have one earbud in.
How close is the other one to your mic?
Why? What do you hear?
Because I keep hearing stuff out of your,
through your mic.
out of your earbud.
Do you hear my side?
How about now?
Test test.
I got to talk.
Yeah, I'm still here.
That's weird.
Or you are just on earbud mics.
I'm just on a single earbud.
Do you still hear it?
Well, we have to talk.
I think it's going away.
Yeah, it went away.
It went away.
We're good now.
Not really.
I'll just turn this down and fix it.
I lowered my podcast people.
I lowered my ear volume.
It should work.
Long story short,
hash rate continues.
I'm moving my mic to the other side too.
Do you hear Marty's echo now?
Do we sound good now?
Well,
I had to talk for you to hear it and we'll test it out by going to Clark's.
Sounds good.
Mempool.space,
144,430 unconfirmed transactions and mempools mempool.
We have two unfilled blocks in the last three.
If we look at hash rate, are we still above a Zeta hash?
Yes, moving up 1.08 Zeta hash per second over the last week.
Again, one six trillion hashes per second being produced.
More than that on the Bitcoin network right now.
That is the state of the network.
Price down.
See you.
MAP21 zapped us 21,000 cents.
Said let's rip.
McCoy's app does 22,000 sets
all caps the all in pod
that's what I named this episode
the non clickbait name
to everyone else
yeah if you want to join us in the
ride or die live chat
go to zap.stream or download
Primal in your favorite app store
go to primal.net
check it out
Check it out. All right, getting to the list. Matt's got something to get to in 90 minutes, so let's make sure.
We cover everything. Like I said, it's been a big week, but we're going to start with some announcements.
The Plan B conference is in Luongo towards the tail end, or not the tail end, but the back half of October.
and there is
CypherTank. We were making fun of Scaramucci
and others for doing a Shark Tank
show
with crypto companies.
It convinced me that this is no different.
I mean, first of all,
it's in Lugano
during the Plan B conference.
I think
the key difference is it's not for shitcoin
companies.
It's for either Bitcoin startups
or open source projects.
There'll be $850,000 worth of prizes.
So like the top pitches
are going to get a significant amount of money
regardless of any external investment.
It's been being run by the Plan B team
and I'm going to be one of the judges.
So applications are open.
If you go to the, it is a Google Doc.
So be advised.
but if you're interested, you should apply.
It should be a good time.
Check it out.
Get to Lugano.
Get to Switzerland.
I hear it's beautiful,
and you should travel to Europe as much as you can.
Well, things are still relatively put together there.
Yeah, I mean, I think it's going to be a great event in general,
and this will just be one sub-event
within the larger Plan B week that they're hosting over there.
it's Tether's
big annual event
and I've only heard good things
it'll be the first time I actually attend
participate
I actually didn't have that on the list
rumor is
that Tether is raising
at a $500 billion valuation
which would make them
the most profitable
private company in the world tied
with OpenAI
there's like a handful of public
companies that are worth more than that
Yeah, that's pretty crazy.
Clear distinction here.
Most valuable private company.
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
I haven't crunched the actual number.
But by headcount, they absolutely blow away everybody else too.
It's like 75 people.
And I would actually say they're probably worth more than that,
and they probably don't need to raise money.
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.
You know, like get the soft banks of the world involved so that they're aligned with Tether's interests.
Yeah, well, I'm not sure if you saw it, but Finnex was out there yesterday after this rumor was announced by Watcher Guru.
Apparently, they need $20 billion to fill the hole in their treasury.
Pour one out for Bitfinex.
He told us all around $900 Bitcoin to sell our Bitcoin because Tether was going to fail and crash the entire Bitcoin market.
And meanwhile, so that was seven years ago or eight years ago.
And then meanwhile, Tether now is making $20 plus billion a year.
one of the most profitable companies in the world, raising at $500 billion.
Bitcoin is at $111,000.
So 111 times increase from when he first made his proclamation,
sold all his Bitcoin.
And then meanwhile, he's still doubling down on it.
He's still digging his heels in.
So I think there's just a lesson there, I think, for people.
that every cycle has its share of FUD.
And sometimes it rhymes, sometimes it's different.
But the best course of action is to stay on one's to accessible.
Yeah, they need 20 billion to fill the hole.
It is impressive what they're doing.
And while we're on the subject of stable coins,
Tether raising a $500 billion valuation,
which to your point, I think it does make sense
considering how profitable they are.
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.
But I think just being objective, Heather is an extremely successful company.
But while we're on the subject of stablecoins, this is breaking Circle, breaking according to Coindesk.
I don't really think it's breaking news.
Dispect of this, Circle is considering reversible USDC stablecoin transactions.
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.
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?
There's a trusted third party, whether that's Tether or Circle, that is holding the backing for the dollars, usually in treasuries.
And they're in charge of the chain, right?
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.
So both Circle and Tether already have this functionality and have done it in the past.
Now, my guess is, I mean, this is like Circle packaging it up as a product, right?
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.
But now like they'll probably put it in an API or some shit.
Yeah.
And can they actually technically reverse it or do they just sort of dead man?
Send it to – or they can just send it to a new address.
Well, can they – my question is do they actually have control over the wallet?
No, they probably freeze and replace is probably what happens in practice.
Yeah.
Because you still have the private keys.
They could probably like force some, but that's just overcomplicating it for no reason.
They probably will just freeze and replace.
That's what they have done historically.
That's the trust model.
The trust model is you're relying completely on the operator.
uh look i i understand particularly in the developing world why there's demand
for these things um where you can't get dollars from other traditional means and
people really want dollars in terms of fiat currencies the dollar is still the king at
least for now um particularly i have no use for them and i uh uh i like bitcoin is my stable coin
i'd rather use bitcoin i will say that uh it does seem like tether realizes this as well that it's
a short-term game which i don't think circle realizes this and also i think circle has basically
no market and Tether is absolutely dominating.
But Tether has been stacking with profits, a lot of gold and a lot of Bitcoin.
And they're doing a lot of funding in AI stuff and communications and Bitcoin mining.
So they could turn into a massive force of good in the world when there isn't that many
big allocators that are focused on those key issues.
So I'm definitely very grateful for that.
I am as well.
Getting commentary from the TFTC team that the YouTube live chat or live stream may have
gone down.
Logan, can you check that?
I'm still seeing, I'm seeing comments come in, unless those comments are coming in from
max i see million zap does 42 000 sats the all-in guys have nothing on you except a few billion
you know what money doesn't make the man money doesn't make the man million
you know we're humble enough here we're humble enough i see john armald asking if anyone tried
turning the cattle bike on and off again actually did i i just unplugged my uh my block clock micro
and plugged it back in.
I think that's what you need to do.
Everybody go do that right now if you have one.
Unplug it, plug it back in.
I'm not going to do that.
Okay.
I have it right in front of me.
I completely agree with your comments on Tether,
particularly as it pertains to how they've used stable coins.
Again, they stumbled into it.
Didn't think it was going to be big.
Turned out to be massive.
Leaning into it, making a ton of profit off of it.
and if the rumors of this raise raising 20 billion at a 500 billion dollar valuation are true
like i could see them taking that 20 bill and just aping it right in the bitcoin
and building the uh building their rather large treasury even yeah i assume i assume that's what
they would do is that at least in the short term while they figure out what to do with it might as
well. Like I said, they definitely do not need the money. But it makes it like it lines up,
like they're, their biggest risk historically has been regulatory, they've had a massive five years
in terms of profit and growth. And now the regulatory regime is in their favor. And it's,
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.
Do you think Trump runs for a third term?
No, I don't think so
I think he's too old
I think he was younger, he should try
Yeah, probably too
I mean, even if he does
He doesn't have that many years left
That shit ages you so fast
It really does
Look at
You know what?
Millian's saying the All-In guys have nothing on you except a few, Bill
You know what? The All-In guys don't have what we have
Here in Zapp
In Noster
We got drop-in
21,000 sat zaps.
Just drop it in to zap some zaps.
I'll catch up on the pod later.
Just saw that we were alive, came in and said,
hey, appreciate the show.
Here's a zap.
Gunson, shout out to you.
I don't even see that one.
But thank you, sir.
Thank you, Gunson.
All right, back to the list.
This was interesting, but somewhat predictable, I would say.
tangum hardware wallet cracked by ledger so for anybody who's unaware ledger has an internal team
of security engineers that are paid to attack every other hardware wallet and i assume the ledger
wallet as well and when they successfully attack a wallet they or successfully get into a wallet
they disclose their findings and that happened earlier this week with the tangum wallet which
is one of those card form factor wallets i don't think my guess is if they successfully break the
ledger they don't disclose that in a big tweet thread though that's true they probably just
quietly fix it but yet i i believe it's pronounced tangum tangum frigate but anyway like there's so
many shitty hardware wallets out there guys and uh we're not going to cover all of them being shitty
but supposedly this one has a decent amount of adoption a lot of people are using it i i kind
of had a blind spot to it i didn't really know it existed um the other one that was out there
sponsoring conferences oh well they gave it to every one of the bitcoin conference i don't
remember that was another shit one um but the same form factor right like this card form factor no
screen first and foremost uh so basically this attack allowed that they like got around the
mechanism that prevents you from brute forcing the pin um so someone can just computerize brute
force the pin and just make tons and tons of pin guesses a good hardware wallet stops you from
doing that like hardware uh cold card for instance stops you at 13 wrong at 13 wrong guesses it just
automatically wipes 13 or 16 it's 13 13 and the number is completely random they just chose that
13 there's no specific reason um but uh so they got around that pin protection
and their excuse afterwards is like well you could do a longer pin okay well um one of their
main design choices was to try and limit the pin choice the pin brute forcing because uh people
tend to choose short pins and a long pin is not that convenient. But then the second piece,
an issue with a wallet like this is you don't have a screen, right? And any wallet that does
not have a screen, you can't verify the information on a secure device. So if your phone is compromised,
you'll be shown wrong information. There's no way for the hardware to tell you.
So keep these things in mind. For smaller amounts, it might make sense to use a simpler
hardware wallet that doesn't have a screen like the bitkey uh particularly if the alternative is
to go and use an etf for mstr or something um i think it's way better to hold real bitcoin on a
you know on a on a less secure more convenient hardware wallet um but when you're talking about
large amounts when you're talking about life savings and stuff i think it's important that
people put in the work and you know do proper cold storage offline self-custody um with secure
hardware invest the time invest the small financial requirements to do that and and make it happen for
your family do the work practice makes perfect as matt likes to say if you can raise a child
you can secure bitcoin full coal 100 if you can drive a car you can secure bitcoin practice makes
perfect get on it be aware of all the foot guns out there it's funny like uh 88 sats radio saying
tangim has a cold like following there's so many of these wallets out there that
i'm completely oblivious to that which is like how how are they getting this cold following how are
What are they doing on the marketing end to get this that the better hardware producers need to adopt?
Well, no, I think part of it is because they support shitcoins, right?
So we're just blind to that entire market.
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.
But many people still insist on it.
So like do different, like your, your Bitcoin self custody should be much more secure.
And then you can, you know, you just store your shit coins on Tangium or Trust Wallet or Ledger or whatever.
But you can use multiple wallets.
You don't need to, don't omnibus your Bitcoin storage with your shit coins and store it less securely because of convenience.
That's the worst decision you can make.
Be aware, freaks.
Only on another 42,000 set zap.
This is a different kind of all in.
It really is.
Reading the comments.
Got to stop reading the comments.
I'm breaking my own rule.
Moving on.
Obscura.
The VPN of choice.
Love to see it.
Official VPN of RHR.
Added more servers.
so they've been uh they've been shipping pretty quickly especially after they got their ios app
out so they have major server deployments in the u.s uh spanning from seattle to miami
all across the country new international locations from brazil south africa
spain poland sweden an increased capacity in new york san jose dallas frankfurt germany london
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
They would want to exit in a freer country.
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.
is located. Effectively, any site you go to will think you're in that country.
So Obscura is awesome. The way Obscura is set up is, so if you're doing something incredibly
adversarial and your threat model is very significant and you want the best privacy
possible, you should use Tor. Now, Tor is incredibly slow by design. The way the network
works is bouncing between a bunch of different servers. And as a result, performance is very
degraded in terms of speed and UX and whatnot. But it gives you very strong privacy guarantees.
Then on the opposite side, you have a traditional hosted VPN that is very fast and has many
different servers you can choose from. But the problem with that is you have to trust that
they're not actually taking logs. So it becomes a reputation game, right? It's like someone like
Mulvad has a very strong reputation.
So you're just trusting that they're not tracking your internet activity.
So instead of your internet service provider, like Comcast or Starlink or whatever, tracking
your internet activity, you're now trusting a different provider.
You're trusting your VPN provider.
Now, the cool part about Obscura is it straddles the middle.
So Obscura runs the entry server and Mulvad is running the exit server.
So the only way they could track you is if both Obscura and Mulvad collude with each other.
So you get the privacy benefits that are moving closer to something like Tor,
but you have the performance benefits of a traditional VPN.
It's a really nice middle ground.
The two big things Obscura has been missing is more server choices.
Specifically, on the entry side, you want to be able to enter somewhere closer for getting better performance.
and just the more servers there are,
the more distributed the user base is
so you have better performance.
And then the second piece,
which they're still working on,
is more platforms.
Like right now, it's Mac and iOS only.
While the big dogs like Mulvad and Proton
have every major platform available.
But I know they're working on it
and I'm just really grateful they exist.
It's awesome.
It works really, really well.
and has pretty strong privacy guarantees.
Yeah.
Easy recommendation.
I'm testing it out right now.
Like performance is high.
You get a bunch of coverage.
Obviously, you get all the privacy benefits of a VPN.
But I was just able to go on YouTube TV
and put on the Ryder Cup, which I've never been.
Yeah, but I think that's...
Don't sell obscure on that.
No.
Because it's because there's...
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?
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.
So when you go on a website, they don't know which of the 10,000 you get to hide in the crowd, right?
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.
So Obscura's benefit in that regard is just because they're early and they don't have that many users.
There's nothing technically innovative that is like allowing you to watch YouTube TV or Netflix or whatnot.
That's just an early thing.
Well, let's get it to the point where I can't watch YouTube TV.
use the code RHR25
for 25% off
subscription
if you guys want it
we got
21,000
boost from
there you go
from Marks
or Zap
I get boost and Zap
I'm just going to use them
interchangeably
privacy is for normal people
that is true
and then this is a lower Zap
but I'd like the message
Stack Toshi's zapped
2100
I said Prime will nail this
Matt and Marty are trailblazers
I like the message
you're going to
you're going to read
the lower limit message just because it pumps us only if the only if the message uh is flat ads or
ego yeah then yazzer said rhrover zap.stream is peak nostor keep up the good work boys stack
stats shout out to you yazzer 21 000 set zap love it uh moving on fold in-store gift cards
being seen in the wild.
Haley Lennon, disclaimer, works for Fold.
Disclaimer, Fold is a 1031 portfolio company,
but this is something that they've been working towards
for a long time, and it's really cool to see in the wild,
the Fold gift cards.
Yep, and they also had an announcement this week
that the Fold credit card is imminent,
and it'll be a partnership with Visa and Stripe.
Stripe with a P.
one and a half percent sat sats back for everybody bumps up i believe two and a half
two two and a half uh if you do direct deposits into into the fold out as well i mean people are
excited about all the credit cards i mean they're trying like the gemini one and the coinbase one
i'm not like particularly like when i use a credit card i have an amex that i'm happy with
but the physical gift cards
I think is
is like
is an underrated deal
actually just having like
walking into like a Walgreens
and being able to pick up
like a physical Bitcoin gift card
I think is pretty cool
at the very least
it's incredible
gorilla brand
recognition
yeah
not only for gold
but for Bitcoin
more generally
seeing that orange bee
when you're in the
checkout line at a
Walgreens or CVS
moving on with the 1031 portfolio company section of the show strike lending is now available
in north it's just it's just a coincidence it wasn't meant to be the 1031 section
our investments are broad um i i know people like on a state-by-state basis are are looking
for strike loans.
So the handful of freaks in North Dakota out there is now supported.
It's literally like internally, it's just in parallel working on a ton of states and
a ton of countries.
And we're just going to ship them as they become available.
um but but no the work is being done and the licensing is uh
you know going through that licensing is a skill of its own and the strike team is is quite uh
competent out of it's impressive to watch yeah not a zap
but really cool and building on what we said earlier noster is getting to a point
maturation and
UX parity
with everything else. Layer
zero propaganda on X
just tweeted
at me and Citadel Dispatch. So I don't know
if Citadel Dispatch X account is still active
but I'm currently watching Rappable Recap
on my Apple TV using TK's
Nostra TV app currently in test flight
beta. This is Nostra
streams on your big screen with Apple
UI UX. You can even
zap them on the screen. That's pretty
cool i just retweeted it on x if you want to go check out the the test flight link
i've resisted an x tweet this wasn't in the live chat yeah x tweet um cool yeah no the
citadel dispatch accounts while not deleted is just sitting there dormant because you can't
stream from x unless you have a blue check and i refuse to comply should so now dispatch streams
from the 1031 account because uh jonathan blue checked himself
it's great there you go team effort moving on to the human rights foundation i mean the rhr
the rhr account also never got blue checked and is sitting dormant and that's why this goes out
through the tftc account if we get it i rely on my friends i rely on my friends and business
partners to blue check themselves.
We have a yellow check.
In order to provide for the ex-audience.
We have a yellow check, okay.
How much do you pay for the yellow check?
It's like 200 bucks a month.
Wow.
For the business.
Yeah.
Did you have Logan do the ID check for it, or did you do that?
I would not subject my employees to it.
You have to do a corporate.
It's like EIN, since it's a corporate account.
That's not as bad.
Yeah.
All right.
Human Rights Foundation story of the week coming out of Thailand.
It's been a bad week for Thailand.
They got hit with a typhoon, and the Thai government freezes accounts and imposes transfer limits in an effort to reduce online financial scams.
The Bank of Thailand froze more than 3 million bank accounts.
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.
In the United States, this comes after suffering nearly 6 billion baht or 189 million in damages from online scams in recent months.
The freeze has left many online creators, small businesses, and foreign residents unable to access funds or process payments.
The heavy-handed approach caused panic, withdrawals, and confusion,
and offers a glimpse into how broad state measures against fraud can unintentionally lead to financial repression, cutting ties off from their own money.
For more stories like this, make sure you sign up to the Financial Freedom Report newsletter, which comes out weekly at financialfreedomreport.org.
It's good to see the HRF crew in Nashville last week.
Shout out to Arsh and everybody there.
But I mean, this story.
I feel like Arsh specifically is everywhere.
Really? Yeah, he is.
I feel like whenever.
I just say every time I land somewhere, he's there just waiting with a smile on his face.
Shout out Arsh.
But this story, I mean, is very similar.
I don't think we touched on it last week because I think it happened.
Or I was made aware of it after we recorded because we recorded it early last week on Wednesday.
But similar thing happened in Vietnam where they instituted biometric verification for their bank accounts using fraud and scams as the justification.
and they and it was like 86 million bank accounts yeah yeah yeah every week it's a
new week new country freezing bank accounts this is why we bitcoin this is why we self-custody
bitcoin bitcoin in an etf or a bitcoin stock does not protect you from this bitcoin held on
They can freeze your Charles Schwab account, freaks, in case you were not aware.
Beware. The Vietnam thing is crazy.
And again, like using biometrics, you had to go in Vietnam if you didn't go to your local bank branch
and either give them a face scan or a fingerprint to verify your account.
if you didn't do that by September 1st
they froze your account and sort of gave you
a 30 day leeway
period and I believe
by the end of this month if you don't do it
by September 30th in Vietnam
they will just completely zero
out your account
another interesting thing too
it's like a great way for these countries
not a great way but it is a way for these countries
to do bail-ins
by another mechanism
it's like what happens
with all the money in these accounts
that doesn't get claimed by individuals
who go and scan their face.
Does he go into the Treasury General Account in Vietnam?
That's why I assume.
Fucked up.
Yeah.
I'm trying to get to
Fountain Boost.
that's not the one
rabbit hole recap
375 the pal parlay
we've got
a couple boost over 21,000
sats
such a good name for that episode
right
it would have been even better if we made a bet
I know
I made the episode and then tried to
tried to make a bet.
Our boy Keith is here to pump TabConf
with a 21,212 set
palindrome boost.
Save the date, Tuesday, October 14th.
Standby for ZapRite ticket link,
which is coming.
ATL BTC meetup, M-E-A-T,
dinner at Fogo de Chal,
a satellite event for TabConf,
the Atlanta Bitcoin Conference.
Shout out to you, Keith.
Shout out to TabConf.
Shout out to the meetup and shout out to ZapRite.
First time I had the ZapRite ticketing experience and imagine if we're
fall asleep.
Yeah, it was a really good ticketing experience on our side too.
On the backend.
Our boy Foyze came in with a 21,000 SatBoost.
Chicago meetup this Sunday, September 28th at 12 noon at Revolution Brewery
3340 North Kedzie Avenue.
BYO food or pre-order with
Foyze menu and details on my
Noster page shout out Matt and Marty
and shout out me shout out to you Foyze
shout out to you
I love it
shout out you freaks thank you for supporting
the show let me see
3340 North Kedzie
let's see what neighborhood this is in
oh right by the
I see
I see Habibi zapped
1,111 sats and said, please fix the in-app purchases for sats. I assume he's talking
about Primal. That is on our radar. We're working on it. We just like to ship things to you guys
fast. So our current setup is not the long-term setup for that feature, but we will get it back
online ASAP and then we'll make it even better from there, which is our style. And then I see
soap miner, which I 100% agree with saying we need to keep expanding the Bitcoin ecosystem so
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
is when you see actions like the Thai government and the Vietnamese closing bank accounts
to be able to just transact in Bitcoin and be ready for it when that happens.
A lot of the conversation around the core versus not stuff and funding devs focuses on Bitcoin core specifically.
But I will speak to OpenSats.
And with OpenSats, protocol funding is a very small aspect of our larger mission.
um we've given out 324 grants and the key there is we need all these different open source projects
and apps around around the ecosystem for these types of situations because if you have to and
you know the irony here is marty and i through our investment fund have invested in and supported
the top bitcoin companies in the space but at the end of the day companies are a central point of
failure. And we need to have open source projects that are not controlled by a company that are not
controlled by an individual that are well maintained, that are robust, that are easy to use,
because they're viral in nature. And they're very, very hard to kill because anyone can modify them,
anyone can distribute them, anyone can run them without permission. And it's, it's more important
than ever. And time is of the essence. Can we wait 10 years? Maybe. I don't want to wait 10 years,
out, the sooner the better. We have families to raise. We have things to get done and life is short.
If we can supercharge this stuff, I think it's well worth it.
Yeah. And I will step in to give a little bit more credit to 1031. Yes, our main focus is
supporting profit-driven businesses in the space. But one thing we do do is give no-string
attached grants to open source projects. And one of the ones I'm most proud of that we did
a couple of years ago was giving a grant to cali to work on cashew and i'm gonna yeah
hip around the list here because i think we're beginning well before you do that
even i mean uh one of the first checks into open sats when we're getting off the ground is 1031 too
yeah um and as it pertains to open sats i think we've seen the the fruits of that seedling begin
to sprout not only begin to sprout but continue to sprout and really support the ecosystem when
it comes to the grant we gave to cali to work on casio i think we're really beginning to see that
moving to the software update section of the show i'm going to skip ahead and go back but
this is really cool i've been using this wallet for a couple months now
and they've been shipping at breakneck speed and i think what they launched this week was
especially cool i read about it in last night's newsletter but macadamia wallet version 0.4.0
just released included is a new iMessage extension it allows you to send e-cash to
other users in a sleek and approachable way no more wall of gibberish this is really have you
tested it yet uh specifically i did and i intentionally tested it with somebody who
doesn't have a macadamia wallet how does it work on your side like uh do you have to install the
extension in iMessage? How do iMessage extensions work? I just updated to version 0.4.0 and it was
in iMessage. It was just there automatically in the attached thing in iMessage? Yeah. And then
what about on the receiver side? If they didn't have Macadamia, does it like pop up the app store
for them to install Macadamia? I assume so. I sent it to somebody in the space, a friend of the pod
listens. I think he'd be okay if I said his name. Did he tell you? But I sent him, I used
use the iMessage thing, sent him 21 sats.
He's like, what do I do with this?
I'm like, click it.
And then within two minutes, he's like, oh, I downloaded the wallet.
He connected to it, man.
That's awesome.
He redeemed it, yeah.
Yeah, Macadamia is awesome.
One of the best Cashew wallets, period.
And what's cool about it is if you want like a power user wallet,
maybe you're using Cashew.me or Minibits.
but what's cool about macadamia is it's just like a really user-friendly easy to use very pretty and
polished wallet it's a it's a first class design experience which is pretty rare in the bitcoin
space so it's it's wonderful to see i will say you'd mentioned something there did he ask you
which meant to pick no but i think he saw what meant i was connected to and asked if he should
connect to that and uh i said you pick whatever one you want so i the biggest friction point for
cashew mints for cashew wallets in general is the user having to choose a mint and i i understand
why that's the case historically um is because wallet providers don't want to you know choose
choose your mint for you a mint is a trusted relationship the mint uh could go down um
and you won't have access to your funds,
the Mint can be malicious and rug you
or do quiet inflation and slowly rug Mint users.
So it's a very intimate choice
which Mint you choose and which Mints you use.
I will say with this feature specifically,
it would be cool if the user didn't have a Macadamia wallet
and they click it,
it just automatically used the Mint of the gifter, right?
Because presumably you already have a relationship with the person gifting it to you.
And you can basically skip that onboarding flow, that friction point of choosing your mint, because they can effectively recommend it.
But the user on the receiving side can't tell or doesn't get prompted.
They can always change the mint in the future.
Well, you could even give them the prompt like, hey, Marty, who's sending you these sats?
Recommended by Marty.
Would you want to join this too?
Yes.
Boom.
Yeah, I like that.
Maybe that's like the nice middle ground.
But anyway, this was pretty cool to see.
Yeah.
Really cool to see.
Again, we've talked about it a lot.
The breakneck speed of innovation around the cashew
Chomium Mint protocol has been insane.
And I think Macadamia is a shining example.
That tier point, the UX is impeccable.
And given the idea of like melting sats from lightning to e-cash,
in reverse like it's pretty seamless yeah and it's pretty um i see tyler stevens uh
who also had a great presentation at the imagine if summit here in nashville this weekend um zap
21 000 sats he says there's a heat punk summit coming up save the date february 27th and 28th
at the space in denver denver's version of bitcoin park i've only heard good things about
Have you been to the space yet?
Not yet.
I'm getting lambasted by Tyler to get there.
Harassment is the correct word, Marty.
Harassed.
I think lightly nudged or more aggressively nudged.
It's probably the right term.
I'm going to get there.
I want to see XRG's Bitcoin mining heating system in person.
I've seen pictures of it, seen videos of it, had Tyler on TFTC talk about it.
it's about time I get there. And I will note, Tyler, this is the way to do a bigger
event announcement. You and Keith Sharp are on it. Start beating the drum a couple months before,
get people time. We've got five, six months until this event happens and get people ready for it.
Start beating the, in marketing, what is it? How many touches for conversion? This is the first
touch. You're starting six months early. This is the way to do it. I worry for the freaks that
that do ninja meetup announcements two days before.
But some people are spontaneous.
They say, you know what?
I'm going to go to that.
Keep doing that too.
Back to the list.
Back up to other software updates in the space.
Peach version 69.
Nice.
Has been released.
It's now two-sided Bitcoin marketplace where both buyers and sellers can be makers or takers.
This is making Peach a real P2P exchange without the KYC.
BS, excuse me.
Yeah, I mean, 1031 is probably one of the first checks invested in Peach.
No KYC, P2P, Bitcoin.
And now it's gotten even better.
Steph and her team are, you know, it's a journey.
It's a hard grind out there.
and it's been impressive watching them ship.
Amberly has.
Go check it out.
You remember her original pitch?
Marty loved it.
Tinder for Bitcoin.
Yes.
She's like,
P2P Bitcoin exchanges should be as easy
as swiping right on Tinder.
So, I mean, that clicked for me.
It should be.
I mean, yeah.
Should we try to find our wives
or your significant other on Tinder?
Maybe not.
No, but a P2P Bitcoin exchange?
Yes.
I know a couple of couples that were successful in the online dating thing.
I know a few that were successful, but then it did not turn out well.
It's a mixed bag.
We don't have to give life advice, marital advice here.
I mean, I know one couple that discovered each other on Bitcoin Twitter.
but your mileage may vary.
Your mileage may vary.
I don't know what that means.
I don't know.
They seem to be a great couple.
Yeah, well, I mean, that's more natural to me.
You're finding somebody in a community.
I guess.
Should have been.
There's many couples that have been found on Bitcoin Twitter.
Bitcoin Twitter cesspool right now, though.
Do not recommend.
Did you get breaking news this week out of California?
I do know a few.
um what uh the hate speech law no not that there's a there's a politician running for governor
who said some good things oh my god i don't know how anyone takes that guy seriously at this point
like are you fucking blind like everyone's like they're like uh i can't believe he did this to us
it's like you are fucking blind if you had any expectation of war
I got a good chuckle out of that.
It's like,
people are getting continuously punked.
Speaking about punked,
if you're using LLMs,
you can get punked by the provider of that LLM
if you're not careful with what you say.
That's why we're big supporters of Maple
here at RHR and via 1031.
And they just released their Android app.
So Maple is now on Android.
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.
So you don't need like a super high-end device to run something self-hosted.
You can use Maple instead, and they run all the top open source models for you.
But one of the coolest parts about Maple is you can just run it in a browser on any phone.
Like they have a progressive web app.
You don't need the app store.
you can just run it in a browser. Historically, that's how people have run it on Android,
but a lot of users wanted to see an actual Android app. So they shipped an actual Android app.
The other big thing is I think last week they did it live on air, but they added voice chat,
which I think was pretty big. That's how a lot of people use these chat-based AIs.
and they brought back document and image uploads,
which is just an awesome feature
because if you're running a business,
you want to upload some documents
to have the AI help you with it.
You don't want to use like a chat GBT or something
because you're just giving all your insider secrets
and how you run your business to Sam Altman
who wants to scan your eyeballs.
So it's, I think, a very useful feature for teams,
a very useful feature for individuals
and they are running a promo right now
that I believe the promo code is document20 for 20% off.
Yes.
And on that note, I saw Tony teasing earlier this week
that your most requested feature is close to production.
Any day now.
It's coming.
They're shipping quick.
Guys, they're a two-man team,
and they use AI to speed up their development.
and it's been impressive a lot.
Super lean, two-man team, mission-focused.
Yeah.
But yeah, that's the last piece that makes Maple
absolute juggernaut is the real-time web search.
It's easier said than done in a privacy way,
so they're making sure they do it the right way,
which I respect.
Speaking of great presentations at the Imagine If conference,
Marks gave a very good one.
to really drive home the sort of fork in the road we find ourselves in as it pertains to
where we're going to go with AI. Are we going to have privacy and are we going to be conditioned
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
don't go in the right direction and we go down the corporate walled garden black box LLM system
prompt route you can easily be conditioned by by the tool that your your think is working for you
um so be aware that was a great inspirational presentation by mark i agree um i see top
zap for the day commoner zapped freedom 98,765 sats thank you commoner wow we appreciate you
Wow.
And wow, I'm a little speechless.
I'm just a six-figure zap right there.
Shout out to you, Commoner.
And then we got SavBTC, ride or die since 2018.
Love you, Marty and Matt.
Thank you for your service, fellas.
Next meetup, Tuesday, October 14th, 7 p.m. at B&D Burgers.
We will recap the last month of Bitcoin News.
Hold a brief presentation on the Open Dime Bitcoin Stick.
And welcome all new members.
be there i still love open times
the problem is like no computers have usb drive usb um you need an adapter for them
USB ports.
When I gift them for weddings and stuff,
I gift them with an adapter.
Yeah.
You buy a bunch of adapters
and just...
I feel like it's fucked up to give it to someone
and then they only have USB-C ports.
I love open dimes.
I love the orange.
I have so many.
I'm actually running low.
Yeah, the orange is clean.
I'm running low.
MBK, if you're listening,
I need more open dimes.
open dime great wedding gift sats card great wedding gift too sats card's much easier much
more approachable i i i first of all have a this is crazy this is like cypherpunk this is like
hardcore cypherpunk right yeah i think the open dime is it hits harder as a gift i lean i lean
usually to the open dime unless um i don't know sometimes uh the the sats card like it's cool that
You can just tap on the back of the phone and see the amount.
But it doesn't hit nearly as hard as gifting someone an open dime.
Yeah, you're holding that and you feel like you have something with the codes to a nuclear weapon in it.
By the way, you know what I figured out?
I figured out.
I mean, it should be pretty obvious to people, but maybe they haven't considered it.
if you are sending someone a open dime or sats card in the mail
you can initialize it ahead of time sats card you know already has a qr code on the back
but with the open dime you can initialize it ahead of time record the address ship it to them
and then in the card tell them to tell me when you get it and then send the bitcoin so if it
gets lost in the mail you don't lose the bitcoin that's just kind of cool and for anybody who's
unaware when matt saying initialize the open dime to have certainty that you have to create the
private key first and you do that by creating by putting a random uh picture jpeg file um any kind
of file i think yeah but yeah yeah to add that random adds a level of randomness yeah
um cypherpunk stuff we're gonna get back to our cypherpunk roots
that was uh i got a lot of pushback from the macadamia newsletter not a lot but there was
why why why are you pushing people towards these custodial solutions it's like come on
it's incredibly cypherpunk the fact that i can sell bitcoin sorry excuse me send bitcoin
via iMessage, via eCash.
Yes, the mints are centralized,
but the privacy benefits are massive.
Everything comes with trade-offs.
And usability benefits.
It's incredibly programmable.
You can use it offline.
I think you think of it as spending cash.
If I have $200 in my back pocket
and I go out to eat
and I go out on Main Street or whatever,
I go down to Broadway
and I lose the $200,
my family is fine.
And then once you have more money, you bring it into self-custody.
And it's an interesting – it's a double standard, right?
Because it's like every Bitcoin influencer is joining the board of Bitcoin penny stock right now.
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.
It's like literally like, send me Bitcoin, I'll send you two back.
and tons of people are aping into the etfs well it's like okay well i'm like on the sovereign
privacy focus side like we have a programmable bearer instrument um that that works way better
and has similar trust model uh so i think it's i think it's cool and it doesn't require soft
fork doesn't require any change. I think some people try and gaslight me and put words in my
mouth because I donate so much of my time to OpenSats and focused on building that out.
But I actually am incredibly conservative when it comes to protocol changes on Bitcoin.
I do not think the Bitcoin protocol should be changed unless absolutely necessary. I lean way
closer to ossification than the opposite side.
And the cool thing about things like Cashew and Fetiment and the current implementations
of ARK and Spark is that they don't require any changes to Bitcoin.
They just work today.
And that will come with certain trade-offs.
And the important thing is that users understand those trade-offs and those risks and are able
to make an educated decision on which tools are right for the situation.
Completely agree.
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.
I know we've been hating on Liquid for years, but I'll give it some shine, ARK, many others, Spark.
Marty do you see what your clickbait
Caused in the comments
Yeah no Jason Miller I see you going off brother
Don't worry we're not pro
CBDC here
We're trying to pull you in so we can talk shit on the CBDC
Don't worry we're talking about freedom money here
Freedom privacy
We're anti-digital ID
Marty just
I didn't make that
Clickbait on YouTube
Logan when did you make the title on YouTube
This guy put like 8 YouTube
It's probably because of the second thumbnail
what thumbnail did you use logan you can see it in the chat
what did you do oh my god it's just your thumbnails we need digital ids
that's not the i made the one before that
well no wonder jason thinks that's that we're supporting digital ids
it's like you put it in all caps we need digital ids as the thumbnail
Yeah.
Jason, we've dedicated our lives to trying to make those obsolete.
Yeah.
The idea with that thumbnail is to make it seem like here, uh,
star, the UFA prime minister saying that we're not saying what you're saying.
And we're going to get to exactly.
I can see how you, I can see how you read it wrong. Thanks, Logan. Um,
Eric can't meme zap 21,000 sets zapping freedom money from 30,000 feet.
Love to see it.
Vakes up 21,000 sets as well. Said, check out the website.
I vibe coded.
bitcointutorials.org i'm pushing out a major update tonight that'll overhaul the ux
of the site and add more videos shout out vick ride or die freak for years great domain
how long you been holding on to that one for that's definitely a that's definitely a
pre-2020 domain pickup there yeah i'm gonna i'm gonna say
moving along last software update white noise version two two two two what is it
1.0.4 has been released faster stronger cleaner what do they have stability and performance
upgrades a lot of ui ux polish for those that are unaware white noise is a Nostra client that really trying to improve
the DM experience as it pertains to privacy.
Historically, Nostra DMs.
They're trying to build an open, permissionless signal alternative.
So the goal is something that works as well as signal,
is easy to use as Signal, but doesn't rely on centralized Signal servers and uses the open
identity system provided by Nostar. So you can use your current social graph in order to chat
with people. No phone number required, no email, incredibly private, easy to use. It's very early.
They're working on reliability. They're iterating over time. They're building in the public.
but it's a project that I'm very excited about.
But yeah, Logan, can you change that thumbnail?
Put it back to the one that I made.
Yeah, I guess.
Anything's better than what you did.
Just black box.
Jason, Jason, we explained it well enough for Jason.
He apologized.
You don't need to apologize.
It was our fault.
He apologized.
We appreciate the passion.
I'm glad anytime you see that kind of thumbnail on YouTube,
just immediately slam the comments.
You did everything right.
Yeah.
It was our fault.
And Jason, if you're new to the show, stick around.
Maybe subscribe.
Yeah, press the subscribe button.
I think we're very ideologically and philosophically aligned.
I can tell from the comments.
Yeah, we seem like we're friends already.
On this note, digital freedom.
We're going to talk about the UK,
But first, we have to go over, stay local here in the United States, California.
This has gone under the radar, not really talked about as much.
I think I actually credit where credit's due.
I do think I've heard the all-in guys talk about this a couple times over the last few months.
But it's been pretty silent across the board outside of this week, people finally waking up.
But Bill SB 771 has passed the California Senate and is sitting on Gavin Newsom's desk to be signed into law.
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.
section 230 says if you run a platform and people are posting on it you are not liable for what
your users say but it looks like the california legislators are trying to find a loophole
and that loophole is the algorithms um and so logan if you go down to the third screenshot
with the red text uh deep in the bill uh section 3273.73 uh 3b1 says for purposes
of this section deploying an algorithm that relays content to users may be considered to be an act of
the platform independent from the message of the content relayed so it looks like the california
legislator is saying yes your users are posting on your platform you're not responsible for that
however you do use these algorithms to surface content to the the broader user base of your of
your platforms and that act may be viewed as um the platform acting independently and concerning
speech i mean look it is that is the case like that is factually true um it is something that
we have highlighted on the past in the show uh like the whole point of section 230 the whole
idea of the carve out was that a platform is not involved in the content you see. They're just
showing you content that other people have posted. When it comes to algorithms, like,
first of all, they're black boxes. And second of all, they're choosing what you see,
and they're serving it up to you. So at least like, from like a logic point of view,
and maybe even a moral point of view, there makes sense that there's liability there on what you
show people and when you show it. I will say that you said All In covered it. I'm pretty sure they
were arguing for breaking Section 230 on these exact same grounds, but from the Republican side
on the federal level and saying that Twitter pre-Elon and Zuck and whatnot, like David Sachs
has talked about this a bunch, reliable for what trends and what you see on the algo feed and who
gets banned and who gets demonetized and decreased and increased and wanted to break Section 230.
So as we were talking about last week, I think this is a cross-partisan issue.
I think there's people on both sides here that want to see restrictions on speech.
I think the timing is quite hilarious since the current administration has moved in the
hate speech department, right? The quote unquote hate speech department. And then once that happens,
the big problem is it gets very vague. It gets super, super vague on where the enforcement
happens. Like what does California decide to enforce and what do they not try to enforce?
And it's going to be used against political enemies. Like that's pretty much a certainty,
regardless of which side. Yeah. That was the question I had when I wrote the newsletter,
Like, does this only pertain to speech against California residents?
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.
They preemptively comply, yeah, because they don't want to fight the court cases.
but then you will have
you will have court cases
I mean I think the other piece here is
I think the TikTok
bill had a
concept like this
at the federal level
about the algo specifically
about algo breaking
section 230 about how you don't have
section 230 protections if you have
an algo feeding people
content that you're inherently at a level of liability in there rather than just
sending out raw content feeds or distributing raw content feeds
yeah this is where we get into like very vague philosophical discussions because section 230 stems
from newspapers originally correct like opinion pieces
I think so
but no I think it was early days of tech
it was like tech would have literally
been screwed if
they didn't have
section 230
when
did section 230
get created
I'm going to ask why was it created
see what we got
communications decency act
passed 96
Yeah, it's internet specific.
All right.
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
I,
um,
look,
I mean,
I think the alternative is,
is I think if you don't default to an algorithm and you give users choice,
then you can be protected by it still.
Um,
you know,
I think,
uh,
uh naster does this by design because users can use it as they see fit without permission and they
can use any app they want that supports it um but i you know the the walled garden platforms
historically the algo has been their bread and butter because it boosted addiction and increases
retention and they're able to track more users and serve more ads and and that's what they want to do
and control the speech.
But that's the secondary element, right?
Like the main element is just greed
and making a shit ton of money
on the ad surveillance model.
And if Section 230 gets either full off repealed
or basically just carved around
because of this algo stuff,
then you're going to have to give people algo choice,
default to no algo.
Just give, people don't remember
the early days of social
was just a straight chronological feed.
that's how it originally started well that's still all i consume max mainly is list which is
chronological straight chronological nobleists that i've curated defaults are powerful
right like the the majority are just scrolling the rage feed yeah and x does a better job
than a lot of the other ones in that they do make it easy to switch to chronological and i do think
the concept that Elon has
about creating
custom feeds using Grok
is from like a UX
perspective like the ideal
situation for algo choice like
that flow if done
right and done in a transparent way
could be incredibly
powerful I think it gives users a lot of
agency I'd like to see that in
apps like Primal
as well
yeah
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.
And so as a – pulling Noster into this, where does the line blur there?
Is Noster's open protocol?
Well, I think it would be on a per app basis.
I mean, the other thing is that UK Online Safety Act,
most people don't talk about that.
That also has a carve out.
I think it's based on user numbers.
But you have to have a certain number of users to be, you know,
have to implement that like UK KYC social thing.
But those limits, you know, can always be changed.
They won't be adjusted with population, that's for sure.
But yeah, I mean, it'd be great to see Primal making $100 million in revenue.
And then we can deal with it when we get there.
Yeah.
Be aware.
Be aware, yeah.
So this is sitting on Gavin Newsom's desk.
And that's the question.
That's the set of precedent, as you mentioned.
This is a bipartisan, somewhat cross-the-isle issue.
I think both sides want to implement it in their own way, but they both seem pretty keen.
on censorship of certain ideas, censorship of the ideas that they don't like, and going full bore ahead.
You mentioned the UK. Not only do they have those censorship laws, but they're expanding.
This was breaking news earlier today. Via Sky News, it seems like here, Starmer, Jason, this is why he's on the thumbnail.
So he came out and announced that they're going to make digital ID systems, digital IDs mandatory.
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.
Trump, too, his policy really revolves around immigration reform.
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.
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.
If you're an illegal immigrant, you don't have a digital ID.
You're not going to be able to get a job.
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.
And so they're implementing digital IDs.
They're making it mandatory for adults.
I don't know what the threshold for an adult is, 18, 21.
We'll see what they land on.
But using this exact excuse, they want to stop the boats.
and so they're going to make digital IDs mandatory
to stop illegal immigrants from working
is justification in the UK right now.
Yeah.
I mean, it definitely feels like a manufactured crisis
to then propose a quote-unquote solution.
Yeah.
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.
Now they're like, oh, we need to fix it with digital ID.
But you also don't need to be the cause of it to also use it as the excuse.
Like it could have been an accident.
I mean maybe they didn't realize how bad it would get.
But I mean if you want to give them an even shred of a benefit of doubt.
But I mean the perfect example is the US, right?
It's like the Biden administration opened the borders.
The Trump administration is using it as an excuse to palantir us all.
It doesn't have to be the same.
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.
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.
yeah well yeah it makes very difficult to argue it against against it but also
like the solutions in the uk and i think ultimately the trump administration will lean into this at
some point whether they use immigration or this online radicalization as the i mean when was the
last time you went through customs right it's like they scan your face they like take a blood
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
somewhere else on tftc like you need to force the focus of discussion on actually solving
the core issues like yes we should secure the border it doesn't mean we need digital ids
yes there is online radicalization radicalization going on why is that happening why are
the youth so disillusioned how are they getting these bad ideas in their mind what
um are the core of those issues i think they're economic and health driven well we had this we
had this conversation on that subject specifically here in nashville at imagine if this weekend
um where i mean i think that the best solution to you know youth and the internet is giving
parents more tools, like give us better tools to parent our children. And then ultimately,
it's the parent's responsibility to actually be a good parent, which is how it's always been in
our society. But parents don't have the tools in the digital age. I mean, I was talking to Sean
specifically, it seems like such an obvious product for Apple. Like, how does Apple not have
like a full-on parental mode where you know the parent has control over the iphone or the ipad or
whatever that the mac and is able to do fine-tuned controls on how they want their kid to use it
and the reason i single out apple is because they have complete vertical integration over
their hardware and software like if anyone could pull it off in a ux friendly way it's them
and so give give parents the tools to to help us be better parents is is the answer it's not a
perfect answer but it straddles the balance between freedom and mitigation yeah i mean and
beyond the tech solutions i think the onus is on parents to be hyper vigilant yeah and intentional
with how they enable and allow their kids to interact with this stuff 100 i mean we over here
we're trying to run a screen-free household but the key is like that's like uh uh you know that's
like a a bludgeoning tool it's like uh you there's not a fine-grained tool for parents it's like all
or nothing no and it's i think another there's got to be a middle ground but that's like the
only thing you can control once your kids get older they're having friends they start having
play dates like you can't control what the other parents of course not influence but um
you gotta be hyper that's where communities are important yeah exactly um so beware uk
you get digital it's a social problem wrapped into a tech problem and the answer is better tools
and then social and personal responsibility and and that responsibility word is so far gone in
our society our society is just like pull with bumpers right now like no like responsibility
is just getting eroded and eroded and eroded um and people are becoming lame because of it they're
just expecting not to take responsibility for things um what we need is people to take more
responsibility not less apparently my um well before i get to that but uh no great like what
in your mind because i i often have this discussion with my wife like where does the
line get drawn where you feel comfortable stepping in and say hey i really my son is over here
playing with your son or daughter like i really would prefer them not to watch this type of
programming or interact with the screens dude the screens one is easier than the seed oils we run a
seed oils free household oh my gosh that one's the hardest especially people that are more
cost-conscious right like whether it's tallow chips or avocado chips they're expensive as hell
um and so like they have all this trash food uh that's much more like the good thing is like i
think a lot of parents do realize like the danger of screens and social for like development and
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.
Like, I think people need to, you know, build strong communities, right?
And I think it comes from a place of helping, right?
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.
And so whenever we're hanging out, it's the constant topic of conversations.
Like, you know, it's – I don't think we really talk about much else besides that.
Like I'm always constantly talking about it.
And I think that's the key is just, just banging it in there.
Yeah. And I think the,
the God mode hack to this is the wives had to convince each other.
They're not going to listen to us. That's,
I think that's been the most effective thing I've seen my wife.
We've been talking about it's guy to guy and wife to wife is what it is.
Yes. Yeah. And I've seen it in our community.
We moved back, but obviously we just moved back, but we're very close to family.
I live by my in-laws, my sister and brother-in-law.
A few of my cousins are within a half mile radius and all their houses are quickly becoming seed oil free.
I would like to give my wife a lot of credit for beginning that conversation many years ago.
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.
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.
Yeah, you're not going to raise a strong family without a strong lady.
So be very deliberate with the decision.
uh,
it can be overwhelming.
Uh,
but it is the single most important decision you're going to make in your
life.
So don't fuck it up.
Agreed.
Speaking of ride or die women,
my mom is a ride or die freak.
She's,
uh,
just texted me.
She loves the hat.
She loves the humble enough hat.
I love it.
She's asking where,
uh,
where she can get one.
I can ship her one.
Just send me an address.
You ship me too.
I'll give her the extra one that you ship me.
Oh,
perfect.
I shipped you two humble enough hats.
You did.
Like it,
like at me.
Yeah.
Um,
I think we're ending on a good note.
I think this is a good positive.
Yeah.
I love it.
I have a board meeting.
The world's crazy.
I have a positive board meeting.
Yeah.
Focus on,
focus on solutions,
focus on real life meat space conversations.
There are,
I love that description.
It's a social problem wrapped in tech.
Um,
you gotta focus on both
you gotta tackle from both ankles
meet space and the digital space
use the right tools
have the right conversations
and we'll get through this
we'll get through this
well said, love you Marty, love you Freak
stay on the stack sets
love y'all, peace and love