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sets stackwork.ai matt and i've been talking about privacy and the importance of using a vpn for

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seven years now literally seven years i believe at least once every episode or two it's like hey

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Make sure you're running a VPN.

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I think it's especially important today

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where you have governments in the UK,

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other parts of Europe, all across the world,

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really trying to introduce digital ID

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and curbing speech with hate speech laws.

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Make sure you're protecting your privacy

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and shielding yourself from government surveillance

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as you're perusing the web.

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Our VPN of choice here at RHR is Obscura.

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It's built by a Bitcoiner for Bitcoiners.

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Carl Dung did some very critical work for Bitcoin

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back in the day, but he decided to shift his focus

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to bring privacy to everybody with Obscura.

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It is a VPN that cannot log.

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Literally, by the way, it's designed.

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A lot of VPNs will hand ways, say, we're not logging, we're not logging.

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You can't trust them.

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You want the VPN that cannot log.

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That is Obscura.

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Go to Obscura.net.

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Make sure you're using it, particularly if you're in one of these countries

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where the governments are becoming extremely censorious

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and targeting citizens that exhibit wrong things.

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You should be running a VPN.

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That VPN should be Obscura.

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at rhr salt of the earth you've been hearing matt and i talk about it quite a bit i drink multiple

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packets up in a day you got to stay hydrated that's why my face looks so good so i'm getting

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buff i'm able to get to the gym more because i'm hydrated matt he's looking incredible i'm sure

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she's right behind me right now laughing, but she's laughing because she knows it's true. She

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drinks like seven a day. I drink a few a day, maybe seven a day too. Matt, I don't even want

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to tell you how much he's drinking. It's good. It keeps you hydrated. It keeps you alert,

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keeps you ready to go. drinkssote.com. That's D-R-I-N-K-S-O-T-E.com. Use the code RHR

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for 15% off any order.

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

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When you talk about a Fed just gone nuts,

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all the central banks going nuts.

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So it's all acting like safe haven.

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I believe that in a world where central bankers

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are tripping over themselves to devalue their currency,

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Bitcoin wins.

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In the world of fiat currencies,

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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,

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you probably should be.

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I'm tired.

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No dooming in the chat.

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No dooming.

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It's not dooming.

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It's just, I'm fucking tired.

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I'm not speaking to you.

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I'm speaking to everybody out there.

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I know everybody's a little scared right now.

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Press Bitcoin crash.

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Another 5% did.

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I don't know what...

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Yeah, this is your fault, by the way.

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Why is this my fault?

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Taking victory laps two weeks ago.

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I knew it was.

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I know.

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It's all the Luke, it's Luke Roman's fault.

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It's my fault for getting triggered at Luke.

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And now it's, now we all live in Luke's world.

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So it is what it is.

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I'll take some responsibility for that.

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Thank you.

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That's all I asked for.

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I will say like, it's not a 5% dip because the reason it hurts so much is,

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is the gold ratio, right?

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So we're like near the last low priced in gold.

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And I think that's why it hurts more.

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I also think people were like way over leveraged

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on MicroStrategy and MetaPlanet and whatnot.

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And those are a fuck ton.

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So I think that adds to it.

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But I will say, guys, at least the ride or dies

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that have been with us for the last eight years or so.

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I mean, mandibles on Bitcoin standard,

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like did you think a monetary reset was just going to be

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like just us pumping forever and everything just not being chaotic

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and there's not being pain?

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Like this is what fucking happens in the hyperinflationary,

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you know, death of a money environment.

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And unfortunately, it's probably just barely getting started.

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We're like chapter one.

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So batting down the hatches, don't get shaken out.

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Those of us who don't will be rewarded.

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Yeah, have fun with it too.

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We try and have fun.

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I think we have a good time.

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I don't think we've ever had a bad time.

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I think we're doing all right here.

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Hope all of you are doing all right.

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Bitcoin isn't your life.

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Touch grass if you're a little stressed right now.

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Dude, the grass is getting really expensive in SaaS terms,

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like to maintain shit.

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People, grass doesn't maintain itself.

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It's time to get back in the fiat mines, okay?

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Put that McDonald's hat on, put the uniform on,

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get back to the fiat mines, humble yourself.

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Good buying opportunities here.

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You know, my son likes, when I cut our grass, I put my son on top of the lawnmower.

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He likes, he said, I don't, Bitcoin hasn't hit the price yet where I could justify a ride-on lawnmower.

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So I have a push, assisted push motor, a push lawnmower.

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But he gets to ride on it, so he sits on it.

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And whenever he was in a bad mood this year, I would just mow the lawn.

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because he just loved it so much until my wife was like,

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you are killing our grass.

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You are mowing it way too often.

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You can't do it anymore.

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So we had to take a break from that.

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Vague is saying the mandibles is the poor man's Atlas shrugged.

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Yeah, sure.

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Okay.

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I don't disagree.

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I don't think it's necessarily the poor man, though.

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I think it's just, it's an easy read.

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It's an easy read.

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And it doesn't leave much up to the imagination.

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It just kind of lays it out there for you, particularly if you're American.

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So that's where the advantage is.

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I mean, I think the best one-to-one comparison is When Money Dies.

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But that book is –

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That's morbid.

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And is dense as hell.

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I mean, the gold chart does look similar to Weimar.

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The Weimar gold chart.

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The Weimar Mark gold chart.

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Yeah.

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Back in the day, and I was actually on the Coffee and Mike podcast with Mike Ferris earlier today and brought up when Monday dies.

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Funny that you mentioned it.

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But yeah, the social conditions or the social parallels that exist with the DGN culture, winning it all back on one bet.

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A lot of people trading prediction markets, pumped up fun meme coins, even though they're down.

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I don't think they're as popular as they were this time last year.

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The social parallels are very similar, eerily similar, some would say.

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Did you see that chart that Gladstein posted?

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Trump personally made $400 million on the Trump meme coin.

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Yeah.

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And then he made another $400 million on World Liberty Fi.

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Yeah.

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Was it him or something?

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We're grouping them together.

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It's on the same chart.

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To this point, though, Logan, pull this up.

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I don't think that really matters.

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If my toddler makes $400 million on an Odell meme coin, you can blame me.

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It wasn't my toddler.

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Logan pulled it up.

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I think Autism Capital had a great tweet earlier today.

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Haters will disagree, but Trump and Melania launching their shitty Trump and Melania shitcoin.

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And embedding themselves so deeply into crypto is the reason why Democrats won't help inactively sabotage crypto.

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So anything that is perceived as enriching the Trumps is thwarted.

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This is quote tweeting Watcher Guru, who reported that zero Democrats voted in favor of advancing the crypto market structure legislation in the Senate Ag Committee.

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Yeah, I mean, I saw it.

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Yeah, go on.

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It's just an unforced error.

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Like, why did you need to launch these shit coins?

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Why did you later send them to launch?

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It's not an unforced error when you realize that they made $800 fucking million off of it.

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But that is – it was a calculated grift, an effective calculated grift.

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I saw another – I don't remember who posted it, but there was other commentary that I saw that was kind of similar to that, which is the combination of the Trump cash out on it and the strategic, quote-unquote, strategic Bitcoin reserve or stolen Bitcoin reserve.

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the combination of those two and sailor having satoshi level stack of coin actually hurt

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the china bid right right now like silver and gold a lot of it is coming from china presumably

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and you can see you can see how wealthy chinese would be maybe more hesitant to allocate to bitcoin

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because it's seen as almost American-dominated at this point.

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And I think, which is funny.

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Yeah, because it was China-

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I mean, China was dominating for it.

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It was China's game to lose.

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Yeah, I mean, I think all these things, right,

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you can only take so much.

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Don't put too much stock in them.

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I mean, when Bitcoin is going down,

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people have like a million excuses for why it's going down.

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And then when the momentum switches in the opposite direction, like all those excuses evaporate and there'll be a China bid and, you know, Dems will support it because they can make money off of it too and blah, blah, blah.

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Everyone forgets about quantum, like as soon as we go up 20%.

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But all these pieces definitely have some to do with it.

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But I think probably the biggest thing is, you know, we are seeing a debasement trade, period.

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Like you are blind if you do not think we are seeing that.

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We're seeing a sovereign debt crisis.

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We're seeing a monetary reset.

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And Bitcoin front ran like years of, you know, suppressed prices on silver and gold and other commodities.

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And so I actually just pull up the first link I have in the list.

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this is Eric Balkanis, one of our favorite ETF influencers.

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And because he's an ETF influencer,

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people are going to accuse him of cherry picking this chart,

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but he started it right before the ETFs were launched

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because that's when he discovered Bitcoin.

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And it's got Bitcoin there, it's got gold there,

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and it's got silver there.

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And then it's got QQQ,

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so top 100 non-financial stocks in NASDAQ,

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basically tech stocks, the best tech stocks in the world.

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And Bitcoin crushed all of them all the way up until this most recent point.

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And we're still in a great position compared to them right now.

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So it's like you get caught up in it.

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Maybe you open X and all of X is like, holy shit, the world is ending.

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I can't believe gold's pumping this crazy.

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And it's impressive.

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It's wild to see gold in one day move up an entire Bitcoin market cap or in an hour fall, trillions of dollars.

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Like that is insane Weimar type shit.

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But also at the same time, like you look at the gold chart,

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it's up 25% in the last month.

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It's like, okay, congratulations.

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It's like Bitcoin is a need to just have some perspective here.

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It's always been a long game.

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It was always going to be chaotic.

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There was always going to be pain.

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We've had so much pain since we've gotten to Bitcoin.

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Most times we're in pain.

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And credit to us.

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We've been beating this drum.

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for eight years.

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This is literally what we've told you

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consistently for eight years.

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It's a long game.

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There's going to be a lot of emotions.

240
00:13:50,540 --> 00:13:51,860
It sucks more than it is good.

241
00:13:52,540 --> 00:13:56,080
The pumps last for a couple months.

242
00:13:56,260 --> 00:13:57,180
They're so fleeting.

243
00:13:58,260 --> 00:13:59,440
They're so fleeting.

244
00:14:00,720 --> 00:14:01,760
But stay strong out there.

245
00:14:02,640 --> 00:14:03,300
And to your point there,

246
00:14:04,200 --> 00:14:08,500
I know you're a precious metals influencer now.

247
00:14:08,640 --> 00:14:09,580
I think I am as well.

248
00:14:10,240 --> 00:14:11,960
The gold and silver guys are crushing

249
00:14:11,960 --> 00:14:16,040
on YouTube right now. I can tell you that for a fact, having had some of them on.

250
00:14:16,880 --> 00:14:20,240
But I had a very good friend of ours

251
00:14:20,240 --> 00:14:23,840
on the show yesterday, Matthew Mazingtious.

252
00:14:24,020 --> 00:14:28,100
That'll be out Saturday. We had a little sneak peek there.

253
00:14:28,180 --> 00:14:31,940
We went over the power curve for

254
00:14:31,940 --> 00:14:36,040
Bitcoin priced in gold and silver. And in silver terms, it's literally at the zero percentile.

255
00:14:37,660 --> 00:14:39,660
So unless something is structurally broke,

256
00:14:39,660 --> 00:14:46,380
statistically speaking, it's very hard for the Bitcoin to silver ratio to go lower.

257
00:14:46,480 --> 00:14:48,660
It could go lower. Matthew said that, but...

258
00:14:51,060 --> 00:14:52,220
Probably just in person.

259
00:14:53,020 --> 00:14:53,720
It could go lower.

260
00:14:55,240 --> 00:14:58,100
Probably going to go lower.

261
00:14:58,840 --> 00:15:02,580
Yeah, I mean, I'm definitely not a precious metals influencer.

262
00:15:04,080 --> 00:15:05,740
I have many jewelry.

263
00:15:07,020 --> 00:15:08,460
I have my wedding ring.

264
00:15:08,460 --> 00:15:10,320
my wedding ring is up $800

265
00:15:10,320 --> 00:15:12,100
fucking wild

266
00:15:12,100 --> 00:15:14,120
I bought this in 20

267
00:15:14,120 --> 00:15:16,320
I lost this is not my original wedding band

268
00:15:16,320 --> 00:15:17,780
the original fell down the drain

269
00:15:17,780 --> 00:15:18,940
I lost mine too

270
00:15:18,940 --> 00:15:22,080
but I bought a Mene

271
00:15:22,080 --> 00:15:23,440
I think it was like a year into our marriage

272
00:15:23,440 --> 00:15:24,720
this is like 2018 buy

273
00:15:24,720 --> 00:15:27,920
I think gold was at like maybe 1200

274
00:15:27,920 --> 00:15:30,340
no the cool part about Mene

275
00:15:30,340 --> 00:15:32,260
is they have price charts for the jewelry

276
00:15:32,260 --> 00:15:34,040
you buy your wife which is awesome

277
00:15:34,040 --> 00:15:36,400
so like it's basically just my wife's

278
00:15:36,400 --> 00:15:37,740
jewelry is my quote unquote

279
00:15:37,740 --> 00:15:42,880
my gold portfolio and then my two made exchange and then I have my wedding ring.

280
00:15:43,620 --> 00:15:46,080
And then I have thousands of rounds of ammunition.

281
00:15:47,020 --> 00:15:51,100
That is basically, but I guess to that point, right?

282
00:15:51,140 --> 00:15:55,180
Most influencers don't actually have much of the bags that they show.

283
00:15:55,360 --> 00:15:56,680
So maybe it does fit.

284
00:15:57,020 --> 00:15:58,160
Maybe that does make sense.

285
00:15:59,180 --> 00:15:59,320
Yeah.

286
00:16:00,460 --> 00:16:05,100
I'm like the proverbial Bitcoin influencer that has like 10 million sacks.

287
00:16:05,100 --> 00:16:08,300
and it's on Coinbase.

288
00:16:10,120 --> 00:16:11,480
Not even self-custody.

289
00:16:12,760 --> 00:16:13,400
Hey, hey.

290
00:16:14,620 --> 00:16:16,140
People are stacking at their own pace.

291
00:16:16,200 --> 00:16:16,900
Let's not make fun of them.

292
00:16:17,020 --> 00:16:18,400
Before we get to...

293
00:16:18,400 --> 00:16:20,060
I'm just making fun of the influencers.

294
00:16:20,440 --> 00:16:22,640
You got to put the mask on first, influencers.

295
00:16:23,280 --> 00:16:24,240
Have you ever been on an airplane?

296
00:16:24,640 --> 00:16:25,800
You put the mask on first

297
00:16:25,800 --> 00:16:28,000
before you start sending out the engagement tweets.

298
00:16:28,860 --> 00:16:29,060
Yeah.

299
00:16:29,860 --> 00:16:31,560
Guys, if you...

300
00:16:31,560 --> 00:16:32,980
Let's go to Clark's dashboard.

301
00:16:32,980 --> 00:16:35,140
if it doesn't have it on Clark's dashboard,

302
00:16:35,140 --> 00:16:36,340
but I'm on Bitbo looking at it.

303
00:16:36,340 --> 00:16:38,900
If you put it on the one hour chart, we're up right now.

304
00:16:38,900 --> 00:16:40,900
We're up at half percent last hour.

305
00:16:41,540 --> 00:16:45,700
We're currently sitting at 84,020 cuck bucks.

306
00:16:45,700 --> 00:16:48,820
One cuck buck's gonna get you 1,190 sats.

307
00:16:49,380 --> 00:16:51,780
We're at a $1.68 trillion market cap,

308
00:16:51,780 --> 00:16:53,300
lowest we've seen in quite some time.

309
00:16:54,820 --> 00:16:58,420
We are at block height, 930,260.

310
00:16:58,420 --> 00:16:59,700
Nice even block height there.

311
00:16:59,700 --> 00:17:07,700
We are 1,164 blocks away from the next difficulty adjustment estimated to be on February 7th,

312
00:17:07,700 --> 00:17:08,660
2026.

313
00:17:08,940 --> 00:17:16,740
So nine days from now, a week from Sunday, as of right now, looking like a negative 15.9%

314
00:17:16,740 --> 00:17:17,780
difficulty adjustment.

315
00:17:18,180 --> 00:17:23,240
Blocks been coming in at 11 minutes and 53 seconds on average.

316
00:17:23,240 --> 00:17:31,200
what's Clark's teeny weenie mempool looking like 4,171 transactions even though blocks are coming

317
00:17:31,200 --> 00:17:38,500
in slow mempools are not filling up which is an interesting signal he's not tracking sub one

318
00:17:38,500 --> 00:17:44,900
sap or byte what is mempool spaces mempool yeah go to mempool.space logan

319
00:17:44,900 --> 00:17:55,580
we're looking at 38 39 389 off by 35 000 transactions he's not saying

320
00:17:55,580 --> 00:17:59,780
where is this guy what's that guy's name is like the uh

321
00:17:59,780 --> 00:18:07,160
the quantum fudder runs a fun charles something nick carter no no charles not nick charles

322
00:18:07,160 --> 00:18:16,040
something somebody in the chat he had like some crazy idiotic tweet today like trying to

323
00:18:16,040 --> 00:18:23,160
pull up go back to been pulled out space and go to the mining um mining chart oh he said like a

324
00:18:23,160 --> 00:18:29,800
death spiral tweet right yeah he's like ah like like bro have you not watched the news yeah let

325
00:18:29,800 --> 00:18:36,660
me check my likes i know i liked uh one of the responses to it but uh hash rates down considerably

326
00:18:36,660 --> 00:18:41,620
We warned you freaks last week before the winter storm hit the East Coast.

327
00:18:41,880 --> 00:18:44,280
The chat is saying he's Charles Edwards.

328
00:18:45,120 --> 00:18:45,840
Charles Edwards.

329
00:18:46,000 --> 00:18:46,560
There we go.

330
00:18:47,720 --> 00:18:48,640
We'll pull up his tweet.

331
00:18:49,280 --> 00:18:50,200
Hash rate's down considerably.

332
00:18:50,360 --> 00:18:55,560
As we just mentioned, it's looking like a negative 15.86% difficulty adjustment.

333
00:18:55,700 --> 00:19:00,460
Something like 20% of network hash rate has come offline over the last week.

334
00:19:00,460 --> 00:19:14,640
And as we warned you all last week when we last met, before the winter storm rolled across the southwest all the way through the northeast, miners are participating in demand response programs.

335
00:19:16,020 --> 00:19:21,520
And when it gets cold in Texas, Tennessee, Kentucky, those miners are going to shut off.

336
00:19:21,820 --> 00:19:23,820
And that is exactly what happened.

337
00:19:24,860 --> 00:19:30,040
But some people are using the temporary reduction in hashrate.

338
00:19:30,040 --> 00:19:40,360
And I can confirm I'm involved with some mining operations that have an ass to turn off so that there's enough electricity supply for residential consumers on the grid.

339
00:19:41,080 --> 00:19:47,420
But Charles Edwards took to Twitter this morning and said, no one is talking about Bitcoin's hash rate collapsing 40% from all time high.

340
00:19:48,040 --> 00:19:50,160
The biggest miner capitulation since 2021.

341
00:19:50,600 --> 00:19:51,000
Yikes.

342
00:19:51,660 --> 00:19:57,260
Energy value falling in turn very certainly means some big miners are pivoting out of crypto.

343
00:19:57,260 --> 00:20:06,000
there may be some big miners pivoting out of crypto but uh i think i mean wait just it's only

344
00:20:06,000 --> 00:20:10,720
bitcoin it's like the only proof of i guess technically monero is still proof of work but

345
00:20:10,720 --> 00:20:18,860
they you know have their asic resistant potnet mining like that's there's no industrial mining

346
00:20:18,860 --> 00:20:25,700
for it the only chain that has industrial mining is bitcoin yeah and so i see a spiritual evolution

347
00:20:25,700 --> 00:20:31,700
in the YouTube chat. Great name. Great name. All for spiritual evolutions.

348
00:20:31,700 --> 00:20:36,860
Doesn't Iran and Bikman hashrate have to contribute to this? Yes. I don't know

349
00:20:36,860 --> 00:20:40,280
what's going on in Venezuela, but Iran turned the internet off, so that might be

350
00:20:40,280 --> 00:20:56,918
constricting The mining operations there Yeah but more importantly I think people forget there was another Chinese mining ban Galaxy Blox Space Media and Chinese miners confirmed in one of the provinces

351
00:20:57,598 --> 00:21:01,598
in China, it's well known in the industry, even though there was a Chinese mining ban,

352
00:21:01,598 --> 00:21:06,278
quote unquote ban in 2021, there was anywhere between 15 and 20% of hash rate

353
00:21:07,558 --> 00:21:10,718
that returned to China between now and then.

354
00:21:10,718 --> 00:21:14,398
And about a month ago, one of the provinces

355
00:21:14,998 --> 00:21:22,038
um reinstated the ban and there was about 10 of network cash rate in that province at the time so

356
00:21:22,038 --> 00:21:26,518
like that can be contributing obviously we got demand response we got stuff popping off in iran

357
00:21:27,078 --> 00:21:32,598
and his whale up unsure how much ash rate was there and if the mining operations were affected

358
00:21:32,598 --> 00:21:41,718
by the u.s um u.s extraction of maduro uh earlier this month but um i think charles edwards is trying

359
00:21:41,718 --> 00:21:47,318
to FUD and basically say that quantum is the reason why hash rate is down, quantum fears.

360
00:21:48,278 --> 00:21:50,338
It doesn't even make sense.

361
00:21:51,118 --> 00:21:51,298
No.

362
00:21:51,478 --> 00:21:52,658
Even if that was the case.

363
00:21:53,378 --> 00:21:58,278
There's many more reliable factors that are explaining this decrease in hash rate.

364
00:21:59,358 --> 00:22:01,058
Well, can we just walk through it?

365
00:22:01,198 --> 00:22:06,318
Let's first of all pretend there wasn't a historic winter storm that went through Southern

366
00:22:06,318 --> 00:22:06,778
America.

367
00:22:06,778 --> 00:22:15,318
um the like okay so you like you're concerned about quantum and you own a shit ton of fucking

368
00:22:15,318 --> 00:22:21,118
asics and you have power agreements and you own warehouses and shit and so what you just

369
00:22:21,118 --> 00:22:28,498
turn it off and just lose even more money or do you just you sell the asics maybe to someone else

370
00:22:28,498 --> 00:22:34,698
who runs them at a at a lower at a you know you try and salvage some cost there like you wouldn't

371
00:22:34,698 --> 00:22:40,118
just even in that situation you wouldn't just shut off your minors yeah doesn't make any sense

372
00:22:40,118 --> 00:22:46,278
retarded no yeah there's people falling for it yeah well let's be back up what was the uh

373
00:22:46,278 --> 00:22:49,798
what was the engagement on that tweet and what did it get

374
00:22:49,798 --> 00:22:57,958
dude the rage algo man you get to read it out i can't i don't have it up and uh i'm squinting

375
00:22:57,958 --> 00:23:09,558
1.1 thousand likes 141 retweets 265 000 views there you go i almost just retweeted it

376
00:23:09,558 --> 00:23:15,258
well you contributed to the algo by just looking at it

377
00:23:15,258 --> 00:23:22,018
right as soon as you look at it it gives it a boost yeah but the retweets are definitely

378
00:23:22,018 --> 00:23:31,238
uh so by the way we have the freaks are are strong today and the ride or die chat on nostor

379
00:23:31,238 --> 00:23:37,858
easiest way to access it is by downloading primal in your favorite app store and following rhr there

380
00:23:37,858 --> 00:23:44,338
but so minor zap 21 000 sats it's down because people want to pay more sats for soap don't worry

381
00:23:44,338 --> 00:23:49,978
it will get cheaper a low time preference is essential go to so minor.com use code rhr

382
00:23:50,738 --> 00:23:55,138
Florida Justin, ride or die freak, 22,122 sats.

383
00:23:56,398 --> 00:23:57,198
Palindrome boost.

384
00:23:57,578 --> 00:23:58,738
Vibes are high for freaks.

385
00:23:59,138 --> 00:24:00,438
Here for the volatility.

386
00:24:01,918 --> 00:24:06,858
And then there's another big one, MAV21, 21,000 sats.

387
00:24:07,098 --> 00:24:07,858
No comment.

388
00:24:09,578 --> 00:24:10,578
Thank you, MAV21.

389
00:24:11,678 --> 00:24:12,458
Thank you, guys.

390
00:24:12,578 --> 00:24:15,398
Guys, I think, you know what?

391
00:24:15,438 --> 00:24:16,838
You know what we need to pump the price?

392
00:24:16,838 --> 00:24:20,158
to be the most

393
00:24:20,158 --> 00:24:22,118
zapped RHR episode of all time.

394
00:24:22,578 --> 00:24:24,738
I'm not just saying that

395
00:24:24,738 --> 00:24:25,598
because price is low.

396
00:24:26,278 --> 00:24:28,398
I'm saying we really need to

397
00:24:28,398 --> 00:24:30,298
breathe some life back into this market.

398
00:24:30,298 --> 00:24:32,478
But in gold terms, it needs to be the most

399
00:24:32,478 --> 00:24:33,298
zapped in skudos.

400
00:24:34,198 --> 00:24:34,698
In skudos.

401
00:24:35,018 --> 00:24:36,998
Can we get it?

402
00:24:39,098 --> 00:24:42,418
Do you want us to add Tether Gold to Primal?

403
00:24:43,558 --> 00:24:43,818
Yeah.

404
00:24:43,998 --> 00:24:46,098
I think that would be cool. I'd like the option

405
00:24:46,098 --> 00:24:47,458
to receive scooters.

406
00:24:47,458 --> 00:24:49,498
I don't hate the idea.

407
00:24:50,058 --> 00:24:50,638
We got a hedge.

408
00:24:50,758 --> 00:24:53,018
I don't think it's a horrible idea.

409
00:24:55,358 --> 00:24:57,158
I mean, jokes aside,

410
00:24:57,158 --> 00:24:58,158
jokes aside,

411
00:24:59,198 --> 00:25:01,778
and there's a lot of,

412
00:25:02,098 --> 00:25:04,898
I don't think the Primal team agrees with me on this,

413
00:25:05,718 --> 00:25:12,058
but I would be down for you to be able to deposit

414
00:25:12,058 --> 00:25:12,798
and withdraw.

415
00:25:12,798 --> 00:25:19,838
so Tether dollars and Tether gold in the Primal wallet,

416
00:25:20,358 --> 00:25:22,318
but you can only zap sats.

417
00:25:22,758 --> 00:25:24,798
So you can receive and send sats,

418
00:25:24,798 --> 00:25:31,618
but you can draw or deposit in the way you want to withdraw and deposit.

419
00:25:32,398 --> 00:25:33,338
Well, guess what?

420
00:25:34,998 --> 00:25:37,298
You know, it can be a forcing function for this.

421
00:25:38,778 --> 00:25:39,258
What?

422
00:25:39,258 --> 00:25:45,018
we move some of our audience over to rumble we set up our rumble wallet yeah

423
00:25:45,018 --> 00:25:54,438
we get it they support tether gold um i don't like i don't think that's i don't think that's

424
00:25:54,438 --> 00:25:59,158
a horrible idea like if someone wants to if someone wants to withdraw their sats as gold

425
00:25:59,158 --> 00:26:03,498
IOUs, that's their power to them.

426
00:26:05,018 --> 00:26:05,458
Okay.

427
00:26:05,938 --> 00:26:06,278
All right.

428
00:26:07,078 --> 00:26:11,318
We got one more boost before we go on the list.

429
00:26:11,438 --> 00:26:12,098
Focus on family.

430
00:26:12,298 --> 00:26:14,098
This is from Bitter21, 21,000 stats.

431
00:26:14,238 --> 00:26:14,798
Focus on family.

432
00:26:14,918 --> 00:26:15,878
Enjoy time with friends.

433
00:26:16,058 --> 00:26:18,478
Treasure good friendships in life and take care of yourself.

434
00:26:18,598 --> 00:26:20,798
Make sure you spend less than you earn.

435
00:26:21,578 --> 00:26:23,498
If you're still stacking Bitcoin now, don't worry.

436
00:26:23,738 --> 00:26:24,758
Everything will be fine.

437
00:26:25,618 --> 00:26:27,158
I do think it's hilarious.

438
00:26:27,158 --> 00:26:36,418
like the entire fire ecosystem like these like write books and books and books and like literally

439
00:26:36,418 --> 00:26:43,578
it's just save more money than you then than you spend you know spend less than you earn that's all

440
00:26:43,578 --> 00:26:52,678
it is fixed income retire early what is it yeah whatever that's it's uh i don't know it's it's

441
00:26:52,678 --> 00:26:56,618
It's make a bunch of money, put it into savings, and then retire.

442
00:26:57,578 --> 00:26:58,978
What does FIRE stand for?

443
00:26:59,458 --> 00:27:00,538
Money market funds.

444
00:27:01,398 --> 00:27:04,798
What does FIRE stand for?

445
00:27:07,998 --> 00:27:11,038
Drew, Cattle Bike, 21,069 sats.

446
00:27:11,198 --> 00:27:12,158
Go to your local meetup.

447
00:27:12,418 --> 00:27:13,718
Financial independence.

448
00:27:14,258 --> 00:27:16,118
Financial independence, retire early.

449
00:27:16,718 --> 00:27:17,518
That's what it is.

450
00:27:17,778 --> 00:27:18,578
That's what it is.

451
00:27:18,678 --> 00:27:19,618
I got half of it right.

452
00:27:19,618 --> 00:27:20,758
I'll take a 50%.

453
00:27:20,758 --> 00:27:22,618
I'll take a 50%.

454
00:27:22,678 --> 00:27:24,618
50 points on that test right there.

455
00:27:27,878 --> 00:27:30,758
And then the retire piece is like, you know, I mean,

456
00:27:30,898 --> 00:27:32,918
I guess it just depends on your definition of retirement.

457
00:27:33,418 --> 00:27:34,698
I don't think I'm ever going to retire.

458
00:27:35,878 --> 00:27:38,838
Yeah, I mean, I think if your definition of retirement

459
00:27:38,838 --> 00:27:42,218
is that you're just not going to take shit from anybody,

460
00:27:42,998 --> 00:27:47,198
then that 100%, I 100% aligned with it.

461
00:27:47,198 --> 00:27:49,198
If it means like you're going to sit on the beach,

462
00:27:49,198 --> 00:27:56,178
then that's just you're going to go straight brain rot yeah it's like not a good not a

463
00:27:56,178 --> 00:28:05,518
productive way to live your life there's things to do uh all right what do we got next up on the list

464
00:28:05,518 --> 00:28:10,078
okay here this is um so like i uh

465
00:28:10,678 --> 00:28:16,338
there's a couple bit corners that i'm close with and we just like to hate on the fire movement

466
00:28:16,338 --> 00:28:22,818
together. So can I, can I just, I'm all, I'm here for it. I'm here to do whatever you want to

467
00:28:22,818 --> 00:28:28,438
since we're trying to have fun right now. Can I just read this post that was trending and

468
00:28:28,438 --> 00:28:35,538
the fire Reddit? Yes. Yeah. Wait, send the link and have Logan pull it up. Cause I want to.

469
00:28:36,758 --> 00:28:44,238
What can I send you a, can I just send you a photo Logan? Okay. Okay. Okay.

470
00:28:44,238 --> 00:28:46,858
there you go

471
00:28:46,858 --> 00:28:53,718
okay my fire journey wife called me a quote-unquote loser

472
00:28:53,718 --> 00:29:03,018
41 year old male 2 million liquid 650k retirement and i get 75k a year royalty from a business i

473
00:29:03,018 --> 00:29:09,238
sold recently i retired wife is a school teacher good for health care i make 125k a year in income

474
00:29:09,238 --> 00:29:14,378
off my liquid assets. Since November began, it's cold and dark early. So a lot of what I do Monday

475
00:29:14,378 --> 00:29:20,698
through Friday when she's at work is I play Grand Theft Auto on THC edibles because nothing else to

476
00:29:20,698 --> 00:29:25,118
do where I live this time of year. Wife came home early today and I'm stoned in the middle of a

477
00:29:25,118 --> 00:29:29,818
conversation with my GTA online friends. She told me I'm becoming a loser, quote unquote,

478
00:29:30,118 --> 00:29:34,498
but this is me during the day when she works. I admit it's immature, but we don't have kids and I

479
00:29:34,498 --> 00:29:38,998
just want to chill after working a stressful job for 15 years. I make dinner, clean the house,

480
00:29:38,998 --> 00:29:43,698
paid for our nice house and make 2x what she makes as a school teacher for my assets and royalty

481
00:29:43,698 --> 00:29:47,518
income. If I want to get high and play video games when she is working, what is the problem?

482
00:29:47,818 --> 00:29:52,178
We take nice trips across the world in the summer when she's off. She said, I'm too old for this,

483
00:29:52,238 --> 00:29:56,918
but there's not much else to do in the winter. I just want to chill, but I can't tell she doesn't

484
00:29:56,918 --> 00:30:03,818
like it. Early retirement does not fit well in this society. I mean, your wife's mad at you

485
00:30:03,818 --> 00:30:06,938
because you're 41, you're cooking, you're cleaning,

486
00:30:07,118 --> 00:30:10,818
you're taking pot gummies, and you don't have any kids.

487
00:30:11,578 --> 00:30:12,498
She's working.

488
00:30:12,998 --> 00:30:13,858
And she's working.

489
00:30:14,458 --> 00:30:17,198
That's the icing on the fucking cake.

490
00:30:17,858 --> 00:30:20,738
And she's working taking care of other people's kids.

491
00:30:20,878 --> 00:30:21,938
She's a fucking teacher.

492
00:30:22,378 --> 00:30:24,598
If you retire, you need to retire your wife too.

493
00:30:24,698 --> 00:30:27,658
Gentlemen, gentlemen, this is not very gentlemanly.

494
00:30:28,398 --> 00:30:29,918
This is an older millennial too.

495
00:30:29,918 --> 00:30:34,318
So this is like, hey, I love my older millennials out there.

496
00:30:34,958 --> 00:30:37,498
Our compatriots who are like six to seven years older.

497
00:30:37,978 --> 00:30:40,338
They were in college when we were in grade school.

498
00:30:41,998 --> 00:30:43,058
Some of you lost your way.

499
00:30:43,178 --> 00:30:45,678
You watched too much Girls back in that era.

500
00:30:46,418 --> 00:30:50,278
You fell for that trick, that degenerate.

501
00:30:51,098 --> 00:30:51,878
You're 41.

502
00:30:52,658 --> 00:30:54,378
Your wife's working as a school teacher.

503
00:30:54,778 --> 00:30:56,418
You're getting high and playing GTA.

504
00:30:56,418 --> 00:30:59,978
She's surrounded by kids all day being reminded of what she's missing out on.

505
00:31:00,318 --> 00:31:07,018
That she comes home and you're stoned talking to some 17-year-old in Thailand about GTA 5.

506
00:31:08,018 --> 00:31:09,878
About when GTA 6 is coming out.

507
00:31:09,958 --> 00:31:10,958
There's no way to go through life.

508
00:31:12,598 --> 00:31:12,918
Okay.

509
00:31:13,378 --> 00:31:13,618
Well.

510
00:31:14,658 --> 00:31:15,458
I'm happy, Brian.

511
00:31:15,458 --> 00:31:16,358
I saw that the other day.

512
00:31:16,698 --> 00:31:17,678
I saw that the other day.

513
00:31:17,738 --> 00:31:19,678
I laughed out loud.

514
00:31:21,538 --> 00:31:24,618
To your point, though, to Bitter 21s.

515
00:31:24,618 --> 00:31:27,198
message

516
00:31:27,198 --> 00:31:28,898
in his app.

517
00:31:29,738 --> 00:31:31,318
I just spent, right before our chart,

518
00:31:31,398 --> 00:31:33,198
I spent 45 minutes catching up with a friend.

519
00:31:34,118 --> 00:31:35,258
Haven't seen in a while. I lives in Detroit.

520
00:31:35,838 --> 00:31:36,938
Was one of the first people

521
00:31:36,938 --> 00:31:39,598
who took my advice

522
00:31:39,598 --> 00:31:41,398
back in the early days and bought Bitcoin.

523
00:31:41,818 --> 00:31:43,038
He was very happy, very successful.

524
00:31:43,938 --> 00:31:44,858
And it was good catching up.

525
00:31:45,478 --> 00:31:46,378
It was good catching up.

526
00:31:46,998 --> 00:31:50,178
Yeah, no, his wholesome

527
00:31:50,178 --> 00:31:51,898
zap is what made me think of that

528
00:31:51,898 --> 00:31:53,098
very non-wholesome

529
00:31:53,098 --> 00:31:54,718
firepost.

530
00:31:56,098 --> 00:31:57,278
Great advice.

531
00:31:57,618 --> 00:31:59,758
We have Cognitronics at 21,000

532
00:31:59,758 --> 00:32:01,658
sats. Long-time listener. First time on the

533
00:32:01,658 --> 00:32:03,758
live stream. Greetings from Sweden. Thank you, sir.

534
00:32:04,298 --> 00:32:04,898
Appreciate our

535
00:32:04,898 --> 00:32:07,098
global freaks out there.

536
00:32:08,278 --> 00:32:08,718
Guggenau.

537
00:32:10,518 --> 00:32:11,738
I think that's Swedish.

538
00:32:13,778 --> 00:32:15,238
Wait, did someone send us a...

539
00:32:15,238 --> 00:32:17,458
Is this actually a $25 super chat

540
00:32:17,458 --> 00:32:19,778
on YouTube? Do we have super chats

541
00:32:19,778 --> 00:32:20,538
enabled on YouTube?

542
00:32:20,538 --> 00:32:24,558
I saw the pop-up on my interface here.

543
00:32:24,698 --> 00:32:26,538
I think that's the first time I've seen that.

544
00:32:27,918 --> 00:32:33,718
I feel like I'm ideologically not aligned with YouTube Super Chats.

545
00:32:33,818 --> 00:32:36,158
But anyway, this guy paid $25 to Marty.

546
00:32:37,898 --> 00:32:40,118
Marty, feel free to zap me my cut.

547
00:32:40,478 --> 00:32:42,338
I'll zap you $12.50, okay?

548
00:32:43,118 --> 00:32:45,018
You control the rabbit hole.

549
00:32:45,318 --> 00:32:47,238
You just subtract $12.50 from our story.

550
00:32:47,238 --> 00:32:48,158
Okay, deal.

551
00:32:48,158 --> 00:32:53,298
So, sold the business I co-founded to private equity at 44, retired my wife.

552
00:32:53,418 --> 00:32:58,578
I play COD, smoke weed, made $1.9 million selling call options on iBit last year.

553
00:32:58,678 --> 00:32:59,958
I'm in my underwear right now.

554
00:33:01,038 --> 00:33:02,018
Do you have kids?

555
00:33:02,138 --> 00:33:02,618
Do you have kids?

556
00:33:03,998 --> 00:33:04,838
That's the question.

557
00:33:05,158 --> 00:33:07,858
I'm not going to kid shame, but if you don't have kids, I'm curious.

558
00:33:09,338 --> 00:33:10,018
You should.

559
00:33:11,158 --> 00:33:12,458
Yeah, I'll be that guy.

560
00:33:13,658 --> 00:33:16,378
I'm not going to kid shame, but you should.

561
00:33:16,458 --> 00:33:17,678
He said yes, he does have kids.

562
00:33:18,158 --> 00:33:19,138
All right, good. You're fine then.

563
00:33:19,798 --> 00:33:20,718
And you retired your wife.

564
00:33:21,478 --> 00:33:23,518
Yeah, this guy didn't retire his wife.

565
00:33:24,118 --> 00:33:25,418
And you're not posting on Reddit

566
00:33:25,418 --> 00:33:27,338
asking why she's calling you a loser.

567
00:33:27,898 --> 00:33:28,998
If your wife's...

568
00:33:28,998 --> 00:33:29,378
You're good.

569
00:33:30,298 --> 00:33:32,798
If your wife's coming home and grading papers

570
00:33:32,798 --> 00:33:35,538
and talking about how annoying little Timmy

571
00:33:35,538 --> 00:33:38,238
from period four is every day

572
00:33:38,238 --> 00:33:39,598
and you're sitting there playing COD,

573
00:33:40,038 --> 00:33:41,838
retired, and you haven't retired her yet.

574
00:33:42,258 --> 00:33:43,078
It's unacceptable.

575
00:33:44,318 --> 00:33:45,938
Hi, Box 05.

576
00:33:46,218 --> 00:33:47,178
Thank you for the super chat.

577
00:33:47,278 --> 00:33:48,138
What you're doing is acceptable.

578
00:33:48,158 --> 00:33:49,198
Your wife is retired too.

579
00:33:52,298 --> 00:33:53,378
You're good in our book.

580
00:33:54,078 --> 00:33:55,198
But next time, zap us.

581
00:33:56,318 --> 00:33:58,178
Don't use the YouTube super chat.

582
00:33:59,878 --> 00:34:01,338
He's one of those Bitcoin influencers.

583
00:34:01,938 --> 00:34:05,418
Also, make sure you own actual real self-custody Bitcoin,

584
00:34:05,658 --> 00:34:07,018
and it's not just an all-in-i bit.

585
00:34:07,618 --> 00:34:09,058
His wife was a school teacher.

586
00:34:09,698 --> 00:34:10,638
See, you're doing it right.

587
00:34:10,778 --> 00:34:12,538
You need to reach out to this guy on Reddit.

588
00:34:12,538 --> 00:34:12,958
Look at this.

589
00:34:13,158 --> 00:34:14,278
What a flex, bro.

590
00:34:14,378 --> 00:34:15,778
She has a G-Wagon now.

591
00:34:15,858 --> 00:34:16,718
Are you a new freak?

592
00:34:16,718 --> 00:34:18,238
Thank you for joining us.

593
00:34:18,978 --> 00:34:20,238
It's great to have you.

594
00:34:22,038 --> 00:34:23,338
Loving the vibes you're bringing.

595
00:34:23,998 --> 00:34:24,698
Hi, Box05.

596
00:34:26,758 --> 00:34:28,798
All right.

597
00:34:28,918 --> 00:34:29,978
We got a list to get on.

598
00:34:31,418 --> 00:34:32,478
Should we even get a list?

599
00:34:32,498 --> 00:34:32,998
Yeah, we should.

600
00:34:34,938 --> 00:34:37,218
Covering it over the last many months,

601
00:34:38,138 --> 00:34:41,298
Callie took to Noster earlier this week

602
00:34:41,298 --> 00:34:43,798
to alert everybody that BitChat

603
00:34:43,798 --> 00:34:47,018
almost has a million active Android users.

604
00:34:47,578 --> 00:34:48,858
Yeah, this is just Android.

605
00:34:49,538 --> 00:34:49,778
Yeah.

606
00:34:50,498 --> 00:34:50,978
That's awesome.

607
00:34:50,978 --> 00:34:52,398
And every one of them has a Nostra pub key.

608
00:34:55,238 --> 00:34:56,318
That's really fucking awesome.

609
00:34:57,098 --> 00:34:59,898
We talked about Nostra versus Farcaster last week, right?

610
00:34:59,998 --> 00:35:00,458
Or did we?

611
00:35:02,138 --> 00:35:06,398
Well, what is the proverb or whatever?

612
00:35:08,498 --> 00:35:10,838
This is one of my favorite parts about Rabbit Hole Recap

613
00:35:10,838 --> 00:35:12,498
where it's just a very common saying

614
00:35:12,498 --> 00:35:14,018
and we just butcher the fuck out of it.

615
00:35:14,478 --> 00:35:17,298
But it's like never interrupt your enemies

616
00:35:17,298 --> 00:35:19,478
while they're like drifting down the river or something.

617
00:35:20,418 --> 00:35:21,338
Bodies of your enemies.

618
00:35:22,138 --> 00:35:23,138
You're a good teacher.

619
00:35:23,398 --> 00:35:25,578
There's one that's like if you wait long enough,

620
00:35:25,638 --> 00:35:27,838
you'll see the bodies of your enemies float down the river.

621
00:35:27,878 --> 00:35:29,238
Yeah, that's the Nostra strategy.

622
00:35:29,478 --> 00:35:31,478
Don't interrupt your enemy when they're making mistakes.

623
00:35:32,558 --> 00:35:35,058
The second one is the Bitcoin strategy.

624
00:35:35,558 --> 00:35:37,438
I guess they both align.

625
00:35:37,438 --> 00:35:40,438
But I meant the one where you just –

626
00:35:40,438 --> 00:35:46,758
If Noster is just, you know, it's the honey badger of comms and identity.

627
00:35:48,018 --> 00:35:51,478
And all these other ones are just slowly dying.

628
00:35:52,718 --> 00:35:54,838
And Farcaster was the latest casualty.

629
00:35:55,718 --> 00:36:01,798
And also, they sold the protocol, which is just clearly not an open protocol.

630
00:36:02,538 --> 00:36:03,798
You can't sell Noster.

631
00:36:04,398 --> 00:36:08,438
There can't be like an acquisition and exit on Noster.

632
00:36:08,438 --> 00:36:14,978
You could sell an individual company like Primal, but not the actual protocol.

633
00:36:15,978 --> 00:36:16,558
What do we call it?

634
00:36:16,918 --> 00:36:18,638
A dyno decentralized name only?

635
00:36:19,518 --> 00:36:19,718
Yeah.

636
00:36:19,958 --> 00:36:20,918
Decentralization theater.

637
00:36:22,978 --> 00:36:24,078
Shitcoin fuckery.

638
00:36:25,018 --> 00:36:34,118
By the way, on the Cali topic, first of all, One Million Mouse is just really impressive,

639
00:36:34,118 --> 00:36:38,678
particularly for a freedom project, for any kind of project, that's really impressive,

640
00:36:38,678 --> 00:36:45,878
but particularly for a freedom project, that's really impressive. He posted a,

641
00:36:48,838 --> 00:36:50,918
let me see if I can find this chart.

642
00:36:50,918 --> 00:37:05,978
he posted a chart that showed whatsapp um that that showed whatsapp versus signal versus

643
00:37:05,978 --> 00:37:12,478
telegram and it's just really humbling right because like to me like signal is

644
00:37:12,478 --> 00:37:20,638
not perfect it's definitely not perfect um but as far as accessible privacy freedom focused

645
00:37:20,638 --> 00:37:27,698
projects uh it's one of our wild most wild successes like there's 100 million users

646
00:37:27,698 --> 00:37:34,458
uh it's incredibly easy to use i talk all the time about how my 90 plus year old grandmother

647
00:37:34,458 --> 00:37:39,478
like gets baby photos on signal like that's just it's just a massive win across the book

648
00:37:39,478 --> 00:37:45,938
across the board perfect example of good ux and privacy tech yeah but then you compare it then

649
00:37:45,938 --> 00:37:50,218
you compare it to whatsapp and telegram it's getting its fucking ass kicked like there's

650
00:37:50,218 --> 00:37:56,638
billions of users of whatsapp yeah whatsapp is higher than that i think telegram allegedly there's

651
00:37:56,638 --> 00:38:02,298
no way for us to verify it is like one and a half billion and then whatsapp is like three plus

652
00:38:02,298 --> 00:38:08,498
billion four billion or something um and if they're a lot if if population numbers are fake

653
00:38:08,498 --> 00:38:13,478
then maybe they literally have every single person just using whatsapp yeah nearly every

654
00:38:13,478 --> 00:38:21,978
single person. So I just think it's important, you know, to the point of perspectives. Also,

655
00:38:22,078 --> 00:38:28,858
I think expectations, right? I think when you're trying to do the math of how many people will be

656
00:38:28,858 --> 00:38:32,218
using Bitcoin as freedom money when we're successful, it's going to be way lower than

657
00:38:32,218 --> 00:38:37,678
the people that aren't using it. It's going to be an order of magnitude lower. And that's fine.

658
00:38:37,678 --> 00:38:38,518
It is what it is.

659
00:38:39,398 --> 00:38:44,278
Personal responsibility is the harder path unless people will take it.

660
00:38:44,298 --> 00:38:46,338
But the key is to make it as accessible as possible.

661
00:38:46,858 --> 00:38:50,638
So when people realize the need that they can easily take that path.

662
00:38:52,018 --> 00:38:52,458
Yeah.

663
00:38:54,138 --> 00:38:57,058
I wish I had that chart, but I just described it.

664
00:38:57,258 --> 00:39:00,098
It's a long-term game with Bitcoin, Noster, BitChat.

665
00:39:00,218 --> 00:39:03,538
BitChat obviously having early success, Signal.

666
00:39:04,638 --> 00:39:05,378
It's worth it.

667
00:39:05,378 --> 00:39:07,598
As long as it works for you, that's all that's important.

668
00:39:07,678 --> 00:39:12,678
Posted by Odell replying to Callie.

669
00:39:17,278 --> 00:39:20,678
Okay, here's the chart. Let's pull up the chart. I found it.

670
00:39:20,678 --> 00:39:25,678
Advanced search and primal, it works. Gets the job done. Could it be better?

671
00:39:25,678 --> 00:39:26,678
Sure.

672
00:39:26,678 --> 00:39:32,678
We'll make it better. I knew I had replied to him, so I did.

673
00:39:32,678 --> 00:39:38,138
I searched for when I replied to Kelly.

674
00:39:38,738 --> 00:39:39,838
Look at this chart.

675
00:39:39,978 --> 00:39:42,218
Look how tiny that fucking signal line is.

676
00:39:44,058 --> 00:39:44,918
Fucking brutal.

677
00:39:44,918 --> 00:39:46,578
I got to pull it up.

678
00:39:47,138 --> 00:39:48,238
You can't see it?

679
00:39:48,818 --> 00:39:49,458
I got to scroll.

680
00:39:49,498 --> 00:39:49,958
Oh, wow.

681
00:39:50,518 --> 00:39:50,718
Yeah.

682
00:39:53,278 --> 00:39:54,078
Yeah, WhatsApp.

683
00:39:55,538 --> 00:39:56,578
WhatsApp's the green one.

684
00:39:57,618 --> 00:39:58,338
3 billion?

685
00:40:00,578 --> 00:40:01,278
Holy shit.

686
00:40:01,278 --> 00:40:05,998
Yeah, I'm telling you, Facebook products, Facebook's the big boss.

687
00:40:06,578 --> 00:40:09,238
Like Instagram, Facebook, WhatsApp,

688
00:40:10,118 --> 00:40:13,778
like literally the only thing stopping user growth is birth rate.

689
00:40:14,578 --> 00:40:17,538
They have nearly full saturation.

690
00:40:18,298 --> 00:40:20,558
Well, how many of them are bots too?

691
00:40:20,858 --> 00:40:21,698
Can you set them up?

692
00:40:22,678 --> 00:40:23,518
Set bots up there?

693
00:40:23,598 --> 00:40:24,118
I think you can.

694
00:40:24,958 --> 00:40:28,518
Look, I mean, directionally, they have way more users than anyone else,

695
00:40:28,578 --> 00:40:29,598
and it's not even fucking close.

696
00:40:30,278 --> 00:40:38,658
You have to remember that there's a bunch of different ways to measure Nostra users or Bitcoin users, but both of them are open networks.

697
00:40:39,158 --> 00:40:43,058
Like different people can have different analysis on it and say how many users there are.

698
00:40:43,238 --> 00:40:56,658
When you ask how many users of Facebook or how many users of X or how many users of Telegram, like you are literally just trusting the people that run it that want those user numbers to be as high as possible to tell you the truth on how many users there are.

699
00:40:56,658 --> 00:41:09,538
There's no way for you to take your own view on how many users exist on Facebook, for instance, and how many are real users, how much is AI slop, and obviously that's getting way worse recently.

700
00:41:09,538 --> 00:41:12,698
So, yeah.

701
00:41:14,718 --> 00:41:15,358
What's that?

702
00:41:16,158 --> 00:41:16,358
Hmm.

703
00:41:17,998 --> 00:41:22,698
For the meta specifically, it's advantageous for them to be truthful,

704
00:41:22,838 --> 00:41:28,998
particularly if they're being priced in public markets on revenue or profit per user.

705
00:41:29,318 --> 00:41:31,398
So they would actually want to downplay that, right?

706
00:41:32,558 --> 00:41:33,458
I mean, to a degree.

707
00:41:33,758 --> 00:41:46,596
I mean at the end of the day your user number is a TAM right It your addressable market So I think there an incentive there We have potential monetizable

708
00:41:47,276 --> 00:41:50,456
Yeah, that's why equities trade on multiples, right?

709
00:41:50,456 --> 00:41:53,156
Because you're constantly pricing the future value.

710
00:41:54,956 --> 00:42:00,376
But their incentives are definitely aligned with lying more.

711
00:42:00,376 --> 00:42:04,696
I mean, look, this is why you don't see the bot.

712
00:42:04,976 --> 00:42:08,436
Like, you don't want, as an operator,

713
00:42:09,096 --> 00:42:11,636
you don't want the bots to degrade the experience

714
00:42:11,636 --> 00:42:14,476
of your real paying users, right?

715
00:42:14,556 --> 00:42:16,276
So there's a balancing act there.

716
00:42:17,136 --> 00:42:19,416
But you don't want to completely eliminate the problem

717
00:42:19,416 --> 00:42:21,316
and maybe cut 20% of your user base

718
00:42:21,316 --> 00:42:22,756
or 30% of your user base,

719
00:42:23,076 --> 00:42:25,116
because that'll hurt your valuation.

720
00:42:25,436 --> 00:42:26,956
So the incentives are broken,

721
00:42:26,956 --> 00:42:31,796
And that's why open, interoperable, verifiable protocols are key.

722
00:42:33,396 --> 00:42:33,836
Yeah.

723
00:42:35,696 --> 00:42:43,436
And I'm being reminded of the power of Bitcoin, too, right now as I move to the next topic, which is something we mentioned already, but Tether Gold.

724
00:42:44,516 --> 00:42:46,056
Why did you put a Bloomberg article in there?

725
00:42:46,076 --> 00:42:46,596
I can't read it.

726
00:42:47,516 --> 00:42:50,196
I would love to be able to pay 100 sats.

727
00:42:50,396 --> 00:42:52,676
I would pay 100 sats to read this Tether Gold article.

728
00:42:52,796 --> 00:42:54,516
Because I didn't realize I could read it.

729
00:42:55,016 --> 00:42:56,456
Because I'm not a Bloomberg supporter.

730
00:42:56,456 --> 00:42:58,136
You know, like sometimes you hit a...

731
00:42:58,136 --> 00:42:58,916
Are you on a VPN?

732
00:43:00,056 --> 00:43:00,496
No.

733
00:43:01,236 --> 00:43:02,876
I turn it off for when we record.

734
00:43:06,236 --> 00:43:07,276
I like Bloomberg.

735
00:43:08,076 --> 00:43:09,796
Bloomberg usually doesn't have a paywall.

736
00:43:11,316 --> 00:43:11,736
Oh, wow.

737
00:43:11,776 --> 00:43:12,636
I got hit by one.

738
00:43:13,856 --> 00:43:14,176
Except.

739
00:43:14,916 --> 00:43:15,596
Maybe there's...

740
00:43:15,596 --> 00:43:18,596
$199 a month.

741
00:43:19,956 --> 00:43:21,196
We pay 100 sats per article.

742
00:43:23,436 --> 00:43:23,876
Archive.

743
00:43:24,716 --> 00:43:25,756
What about this?

744
00:43:25,756 --> 00:43:26,776
well anyway

745
00:43:26,776 --> 00:43:30,496
the crux of the article is that they have a shit ton of gold

746
00:43:30,496 --> 00:43:31,856
everyone was talking about it

747
00:43:31,856 --> 00:43:34,536
okay here I have the archive link

748
00:43:34,536 --> 00:43:35,576
here's the archive link

749
00:43:35,576 --> 00:43:37,856
how much do they have?

750
00:43:37,976 --> 00:43:39,756
14.5 billion or something like that?

751
00:43:41,616 --> 00:43:42,476
I think they have

752
00:43:42,476 --> 00:43:44,176
let's see

753
00:43:44,176 --> 00:43:45,856
I think they have 140 tons

754
00:43:45,856 --> 00:43:48,296
yeah they have 140 tons of gold

755
00:43:48,296 --> 00:43:50,976
that's fucking wild

756
00:43:50,976 --> 00:43:53,536
what's the price of dollars Logan?

757
00:43:54,176 --> 00:43:54,876
and they have it

758
00:43:54,876 --> 00:43:57,316
They have it in a bunker in Switzerland.

759
00:44:00,096 --> 00:44:01,016
Pretty based.

760
00:44:01,916 --> 00:44:02,736
Pretty based.

761
00:44:02,836 --> 00:44:03,416
Local for them.

762
00:44:03,456 --> 00:44:09,776
It says approximately $24 billion, but also this article is a day old,

763
00:44:09,896 --> 00:44:12,456
so it could be worth significantly more at this point.

764
00:44:13,196 --> 00:44:13,756
No, we're dumping.

765
00:44:13,856 --> 00:44:14,596
We're dumping right now.

766
00:44:16,056 --> 00:44:17,596
Well, it could be worth significantly less.

767
00:44:19,716 --> 00:44:22,316
It's pretty wild.

768
00:44:22,316 --> 00:44:25,436
but here's how long I've been complaining about this

769
00:44:25,436 --> 00:44:26,036
here's a tweet

770
00:44:26,036 --> 00:44:27,736
this link doesn't work anymore

771
00:44:27,736 --> 00:44:31,516
do you remember the TFTC Dimebag

772
00:44:31,516 --> 00:44:32,516
god

773
00:44:32,516 --> 00:44:33,816
so many mems

774
00:44:33,816 --> 00:44:37,196
building TFTC

775
00:44:37,196 --> 00:44:39,336
but for those who don't

776
00:44:39,336 --> 00:44:39,856
remember

777
00:44:39,856 --> 00:44:43,656
we created this tool

778
00:44:43,656 --> 00:44:45,336
at TFTC

779
00:44:45,336 --> 00:44:46,436
called the Dimebag

780
00:44:46,436 --> 00:44:48,496
where you can pay 10 cents worth of sats

781
00:44:48,496 --> 00:44:51,236
and it would randomly

782
00:44:51,236 --> 00:44:56,836
generate a let's see if it's actually still up i don't know if our btc pay server still works

783
00:44:58,196 --> 00:45:06,276
yeah yeah it's not working but um anyway like this like point being

784
00:45:07,876 --> 00:45:10,276
because i was tweeting at bloomberg in 2019

785
00:45:12,436 --> 00:45:18,116
a picture of their of their paywall like sign up just let me pay 10 cents in bitcoin

786
00:45:18,116 --> 00:45:21,556
I don't want to click a link, put in a credit card.

787
00:45:22,796 --> 00:45:24,976
And here we are seven years later, almost seven years,

788
00:45:25,176 --> 00:45:26,216
six and a half years later.

789
00:45:27,796 --> 00:45:28,796
No progress yet.

790
00:45:29,716 --> 00:45:31,116
I'm still waiting for these SATs enables paywalls

791
00:45:31,676 --> 00:45:33,436
on mainstream media sites

792
00:45:33,436 --> 00:45:37,036
for when I seldomly try to redarkle there.

793
00:45:38,516 --> 00:45:38,716
Yeah.

794
00:45:38,956 --> 00:45:39,496
Well, anyway,

795
00:45:39,876 --> 00:45:43,796
yeah, I mean, paying with lightning is just so much.

796
00:45:43,936 --> 00:45:45,776
I don't want to sign up for a fucking subscription.

797
00:45:45,776 --> 00:45:57,616
I will say it's definitely getting messier because now you have all these AI models basically harvesting all of their information.

798
00:45:57,976 --> 00:46:03,036
And then you just ask the AI model, like, how much gold does Tether own and what quotes did Paolo say?

799
00:46:03,096 --> 00:46:04,936
And then they just tell you and you don't even hit Bloomberg.

800
00:46:06,396 --> 00:46:09,336
So, like, they have to figure out different business models.

801
00:46:09,336 --> 00:46:23,836
I will say, to Bloomberg's point, one of the reasons I like them as one of the larger news sources is because their business model historically has been selling the subscriptions to the Bloomberg terminals and not actually – the news is just like a value-add thing.

802
00:46:23,956 --> 00:46:32,196
It's not actually where they make the majority of their money, and that's arguably a sustainable business because you have lock-in on the Bloomberg terminals that everyone loves.

803
00:46:33,176 --> 00:46:33,676
Very expensive.

804
00:46:33,836 --> 00:46:35,516
I think it's like $12,000 a month per terminal.

805
00:46:36,256 --> 00:46:37,476
Yeah, I mean it's fucking insane.

806
00:46:37,476 --> 00:46:41,896
But anyway, they own 140 tons of gold worth $24 billion.

807
00:46:42,456 --> 00:46:48,676
They're stacking about one to two tons every week to this bunker.

808
00:46:49,536 --> 00:46:50,376
One to two tons?

809
00:46:51,256 --> 00:46:51,596
Yeah.

810
00:46:52,056 --> 00:46:58,096
And I love how they have a – they don't know how many tons.

811
00:46:58,236 --> 00:47:00,356
They're going to say, hey, one or two, something like that.

812
00:47:00,436 --> 00:47:02,636
It's not a specific amount.

813
00:47:02,636 --> 00:47:06,016
and they're basically,

814
00:47:06,796 --> 00:47:09,996
that's more than reported by almost any single central bank,

815
00:47:10,116 --> 00:47:13,416
only Poland which added 102 tons to its reserves

816
00:47:13,416 --> 00:47:17,956
in terms of how much they added over the last year.

817
00:47:19,016 --> 00:47:20,456
They're basically one of,

818
00:47:20,596 --> 00:47:23,616
they're an independent, sovereign,

819
00:47:24,176 --> 00:47:25,476
non-sovereign central bank,

820
00:47:25,536 --> 00:47:26,496
which is fucking crazy.

821
00:47:27,196 --> 00:47:28,596
And to people that don't understand

822
00:47:28,596 --> 00:47:29,636
what their business model is,

823
00:47:29,696 --> 00:47:32,216
is their business model is people,

824
00:47:32,636 --> 00:47:35,076
hold Tether, USDT.

825
00:47:35,456 --> 00:47:37,076
They keep them in treasuries,

826
00:47:37,576 --> 00:47:40,236
and then they just take all the interest for themselves.

827
00:47:40,376 --> 00:47:42,016
They don't give the interest back to the users.

828
00:47:42,396 --> 00:47:43,636
Then they take that interest,

829
00:47:43,736 --> 00:47:45,436
and they buy Bitcoin and gold with it.

830
00:47:46,076 --> 00:47:47,076
It's a fucking...

831
00:47:47,076 --> 00:47:48,796
Which makes...

832
00:47:48,796 --> 00:47:50,056
Just impressive execution.

833
00:47:50,676 --> 00:47:55,216
Which makes the regulatory market structure bill squabble

834
00:47:55,216 --> 00:47:58,516
going on right now incredibly hilarious

835
00:47:58,516 --> 00:48:01,696
because Brian Armstrong and Jeremy Allaire are like,

836
00:48:01,696 --> 00:48:06,096
we want to be able to share the yield with uh with our customers and tether the longest running

837
00:48:06,096 --> 00:48:13,616
the successful stablecoin company has never even feigned um an attempt to to offer their yields

838
00:48:13,616 --> 00:48:17,696
they're like no this is our yield we're just gonna buy bitcoin and gold with it i mean to be fair to

839
00:48:17,696 --> 00:48:23,936
be fair to them uh when they first started there was basically no yield right i'm not saying it's a

840
00:48:23,936 --> 00:48:28,816
bad thing i'm not saying it's a bad thing but i'm saying like when when the product officially

841
00:48:28,816 --> 00:48:33,436
launched and was growing, right?

842
00:48:33,536 --> 00:48:36,236
Like treasury yields were like 1% or something or less.

843
00:48:36,556 --> 00:48:37,456
Zerp, Zerp.

844
00:48:37,696 --> 00:48:37,956
Yeah.

845
00:48:38,736 --> 00:48:41,896
So they didn't really have much yield to pass on to them.

846
00:48:42,016 --> 00:48:44,836
Then we went into a higher interest rate environment and all of a sudden

847
00:48:44,836 --> 00:48:46,476
became a massive fucking cash cow.

848
00:48:47,136 --> 00:48:54,296
And then I'm not, I hate, you know, defending Allaire and Armstrong,

849
00:48:54,296 --> 00:48:56,616
but to their point,

850
00:48:57,116 --> 00:49:01,916
the only shot in hell they have taking any market share from Tether

851
00:49:01,916 --> 00:49:03,696
is if they offer yield to people.

852
00:49:04,976 --> 00:49:08,276
So it kind of makes sense that they would be fighting on that front,

853
00:49:09,096 --> 00:49:12,776
but it's all a distraction.

854
00:49:15,096 --> 00:49:19,056
Anyway, I think a lot of people,

855
00:49:20,456 --> 00:49:24,136
I don't know, there was some spicy rage-based takes on like,

856
00:49:24,296 --> 00:49:27,876
Tether has given up on Bitcoin and has moved into gold,

857
00:49:27,956 --> 00:49:29,156
and they just clearly haven't.

858
00:49:29,936 --> 00:49:31,836
They own a shit ton of Bitcoin.

859
00:49:32,856 --> 00:49:34,556
They're continuously stacking Bitcoin.

860
00:49:34,776 --> 00:49:35,956
They're just also stacking gold.

861
00:49:36,916 --> 00:49:40,216
The Shark Tank show just got released.

862
00:49:40,516 --> 00:49:41,496
You don't have that on the list.

863
00:49:42,596 --> 00:49:43,276
Was it today?

864
00:49:43,516 --> 00:49:44,756
It's not out yet, is it?

865
00:49:44,916 --> 00:49:45,656
Oh, it's not out yet.

866
00:49:47,216 --> 00:49:48,596
You know I'm the judge on it, right?

867
00:49:48,916 --> 00:49:49,636
I know, I know.

868
00:49:50,036 --> 00:49:51,496
Previews for the show have been released.

869
00:49:51,976 --> 00:49:53,356
They swore me to secrecy.

870
00:49:53,356 --> 00:49:54,796
I'm not supposed to talk about it.

871
00:49:55,016 --> 00:49:55,356
Who won?

872
00:49:55,456 --> 00:49:56,116
Who's coming out?

873
00:49:56,216 --> 00:49:57,256
Tell us who won right now.

874
00:49:57,596 --> 00:49:57,956
Come on.

875
00:49:58,536 --> 00:50:00,776
I'm not going to make this a must-watch show every week.

876
00:50:00,876 --> 00:50:02,136
We need to slip out insider.

877
00:50:02,556 --> 00:50:04,636
We had multiple winners.

878
00:50:04,936 --> 00:50:06,076
There was an open source.

879
00:50:07,716 --> 00:50:15,036
There was an open source section and like nonprofit open source.

880
00:50:15,176 --> 00:50:17,436
And then there was a for-profit section.

881
00:50:17,696 --> 00:50:21,056
And so there's a winner on both sides of that.

882
00:50:21,056 --> 00:50:24,376
and me being a crazy person and being involved in both worlds,

883
00:50:24,456 --> 00:50:26,476
I was a judge on both sides.

884
00:50:27,436 --> 00:50:27,976
Hell yeah.

885
00:50:29,416 --> 00:50:30,596
Before we go on to the next,

886
00:50:30,776 --> 00:50:32,356
I'm going to give Jeremy a benefit of the doubt

887
00:50:32,356 --> 00:50:36,716
and say maybe he lost a sat in transit and she's 20,999 sat.

888
00:50:37,096 --> 00:50:38,056
What do you think, Matt?

889
00:50:38,716 --> 00:50:40,516
Yeah, I think that he's close enough.

890
00:50:41,736 --> 00:50:42,416
Morning, y'all.

891
00:50:42,596 --> 00:50:45,356
Another lucky coincidence here at UTC Plus 9.

892
00:50:46,056 --> 00:50:47,356
So is that like 6 a.m.?

893
00:50:47,356 --> 00:50:58,256
UTC plus nine is, I mean, California, I think, is UTC plus eight.

894
00:50:59,156 --> 00:51:02,116
So, oh, no, that UTC minus eight is California.

895
00:51:02,416 --> 00:51:03,316
That's minus eight, yeah.

896
00:51:03,656 --> 00:51:04,756
So he's somewhere in Europe?

897
00:51:05,696 --> 00:51:06,436
Sounds like it.

898
00:51:08,476 --> 00:51:11,276
McCoy, 21,012 sats, palindrome zap.

899
00:51:12,596 --> 00:51:13,616
Kaji news for the win.

900
00:51:14,076 --> 00:51:14,676
I like Kaji.

901
00:51:15,536 --> 00:51:16,316
Kaji's good.

902
00:51:16,316 --> 00:51:17,236
Kagi?

903
00:51:17,896 --> 00:51:18,296
Kagi?

904
00:51:20,296 --> 00:51:20,816
Kajai.

905
00:51:21,936 --> 00:51:24,416
Who knows? Speaking of Kajai, S and I

906
00:51:24,416 --> 00:51:26,136
are good friends, Michael Goldstein.

907
00:51:27,056 --> 00:51:28,376
Speaking of catching up with friends,

908
00:51:28,616 --> 00:51:30,356
I had the pleasure of catching up with him last night

909
00:51:30,356 --> 00:51:31,256
on a phone call.

910
00:51:31,816 --> 00:51:33,056
Satoshi Nakamoto Institute

911
00:51:33,056 --> 00:51:35,536
is bringing back

912
00:51:35,536 --> 00:51:37,576
the annual dinner.

913
00:51:38,176 --> 00:51:39,556
I went to the first ever

914
00:51:39,556 --> 00:51:41,796
Satoshi Nakamoto Institute annual dinner

915
00:51:41,796 --> 00:51:44,076
at the first ever BitBlock Boom

916
00:51:44,076 --> 00:51:44,876
in

917
00:51:44,876 --> 00:51:47,276
2017, 2018.

918
00:51:48,716 --> 00:51:49,756
Cody Wilson.

919
00:51:50,916 --> 00:51:53,096
I wasn't at that one. I think I missed that one.

920
00:51:53,816 --> 00:51:54,016
Yeah.

921
00:51:55,156 --> 00:51:55,956
I'm excited for this.

922
00:51:55,956 --> 00:51:56,616
I was up to the year after that.

923
00:51:57,456 --> 00:52:00,156
I was talking to Michael last night about his plans for S&I.

924
00:52:00,416 --> 00:52:02,736
He's got the best plans, incredible plans.

925
00:52:03,416 --> 00:52:04,396
The best plans.

926
00:52:05,196 --> 00:52:06,916
And he's having a dinner

927
00:52:06,916 --> 00:52:08,596
in Austin, March 12th.

928
00:52:08,656 --> 00:52:10,196
I've already bought my ticket. I will be there.

929
00:52:12,416 --> 00:52:13,296
Tickets are limited.

930
00:52:13,296 --> 00:52:21,156
and all proceeds minus the cost of the dinner will go to supporting Michael and the team at SNI

931
00:52:21,156 --> 00:52:31,036
in making sure that they preserve the canon of Bitcoin, the cypherpunk writings that led to

932
00:52:31,036 --> 00:52:38,376
the combination of technologies that ultimately brought Bitcoin to the market, the early email

933
00:52:38,376 --> 00:52:42,836
and of course the SNI commentary from over a decade ago

934
00:52:42,836 --> 00:52:45,696
from Pierre, Michael, and Daniel Krawitz.

935
00:52:46,416 --> 00:52:50,496
And they're obviously going to expand the corpus of that canon as well.

936
00:52:50,956 --> 00:52:53,496
So I think it's one of the most important projects.

937
00:52:53,756 --> 00:52:57,096
And part of what we were discussing last night is his plans to make sure

938
00:52:57,096 --> 00:53:02,636
that we have this digital archiving of Bitcoin.

939
00:53:02,636 --> 00:53:12,716
It makes it very hard to lose the important research papers, discussions over time.

940
00:53:13,176 --> 00:53:15,956
So one of my favorite institutions in the world.

941
00:53:16,936 --> 00:53:17,916
I love Michael.

942
00:53:18,056 --> 00:53:18,756
I love SNI.

943
00:53:18,876 --> 00:53:22,236
OpenSats is a proud supporter or was a proud supporter of SNI.

944
00:53:22,316 --> 00:53:23,436
We're not currently right now.

945
00:53:25,336 --> 00:53:26,836
And it'll be a great event.

946
00:53:26,956 --> 00:53:28,136
And tickets are very limited.

947
00:53:28,276 --> 00:53:30,236
So I just wanted to highlight it for the writer to us.

948
00:53:30,236 --> 00:53:39,276
um also i just hand up we're retarded uh europe is basically gutc because it's based in london

949
00:53:39,276 --> 00:53:47,116
or greenwich this is australia no he's in korea jeremy's in korea 6 a.m in korea and then we see

950
00:53:47,116 --> 00:53:53,996
hawaii satoshi zapped 21 212 sats all in on freedom path the secret to living is giving heart

951
00:53:53,996 --> 00:53:56,096
nice

952
00:53:56,096 --> 00:53:57,996
give

953
00:53:57,996 --> 00:53:58,596
give

954
00:53:58,596 --> 00:53:59,636
get out there and give

955
00:53:59,636 --> 00:54:01,416
I'm going to give you an update

956
00:54:01,416 --> 00:54:02,916
on the financial freedom report

957
00:54:02,916 --> 00:54:04,716
this week coming out of Nicaragua

958
00:54:04,716 --> 00:54:06,776
where economic control sustains

959
00:54:06,776 --> 00:54:08,836
the Ortega Murillo regime

960
00:54:08,836 --> 00:54:10,736
in an investigative series published

961
00:54:10,736 --> 00:54:12,176
by Confidential

962
00:54:12,176 --> 00:54:13,856
reporters identify economic control

963
00:54:13,856 --> 00:54:15,316
as one of the four central pillars

964
00:54:15,316 --> 00:54:16,516
sustaining the dictatorship

965
00:54:16,516 --> 00:54:17,716
of Daniel Ortega

966
00:54:17,716 --> 00:54:19,756
and Rosario Murillo

967
00:54:19,756 --> 00:54:22,216
the regime increasingly relies

968
00:54:22,216 --> 00:54:23,356
on restrictive controls

969
00:54:23,356 --> 00:54:26,156
over civil society's monetary flows to punish dissent.

970
00:54:26,796 --> 00:54:29,896
In 2023, the regime froze the bank accounts of institutions

971
00:54:29,896 --> 00:54:31,436
affiliated with the Catholic Church,

972
00:54:31,876 --> 00:54:34,476
which led a Nicaraguan seminary to cease operations.

973
00:54:35,096 --> 00:54:38,656
Since 2018, thousands of NGOs have been forced to close

974
00:54:38,656 --> 00:54:41,936
or had their assets seized for alleged financial violations

975
00:54:41,936 --> 00:54:42,736
in Nicaragua.

976
00:54:43,196 --> 00:54:45,576
Authoritarian financial control is a primary way

977
00:54:45,576 --> 00:54:47,316
to stifle civil society.

978
00:54:47,836 --> 00:54:49,996
For more stories like this and others,

979
00:54:49,996 --> 00:54:56,896
make sure you sign up for the Financial Freedom Report weekly newsletter at financialfreedomreport.org.

980
00:55:01,776 --> 00:55:02,916
And the burping.

981
00:55:04,156 --> 00:55:06,036
Sorry, I just had to go mute the burp there.

982
00:55:10,676 --> 00:55:14,216
Another reoccurring theme on the show throughout eight years, financial suppression,

983
00:55:14,996 --> 00:55:18,456
is one of the most high leverage tools that governments,

984
00:55:18,456 --> 00:55:23,656
particularly despotic governments will use to stifle dissent it looks like it's happening in

985
00:55:23,656 --> 00:55:34,376
nicaragua as we speak and been happening for quite a while software updates i feel like we

986
00:55:34,376 --> 00:55:41,496
haven't done software updates in a while we only got one but it's one uh that's very welcomed co

987
00:55:41,496 --> 00:55:44,976
Cove Wallet, Cove Android Beta, is finally available in the Play Store.

988
00:55:46,196 --> 00:55:46,676
Go check it out.

989
00:55:46,676 --> 00:55:54,516
I think, so Praveen, who is a maintainer of Cove, is awesome.

990
00:55:54,756 --> 00:56:02,316
I think Cove is, you know, fully open source, self-custody focused,

991
00:56:02,596 --> 00:56:05,056
specifically on-chain self-custody focused.

992
00:56:05,556 --> 00:56:07,776
Mobile Wallet, historically, it's been on iOS.

993
00:56:08,776 --> 00:56:10,596
He's been working on Android for a while.

994
00:56:10,596 --> 00:56:12,376
The Android beta is out now.

995
00:56:13,396 --> 00:56:19,756
It's been a massive success, a massive success in terms of a project being funded by OpenSats.

996
00:56:21,796 --> 00:56:26,196
I think I just absolutely love to see it.

997
00:56:26,656 --> 00:56:30,476
It's a wallet that I've been recommending more and more now to people.

998
00:56:31,196 --> 00:56:33,416
And specifically, it works really well with hardware wallets.

999
00:56:33,416 --> 00:56:48,396
So any hardware wallets that support QR codes, cold card, seed signer, passports, I guess Jade supports QR codes.

1000
00:56:48,456 --> 00:56:49,376
They have a little camera on there.

1001
00:56:49,696 --> 00:56:53,956
Anything that supports QR codes works really well with Cove.

1002
00:56:54,576 --> 00:56:55,436
It's very focused.

1003
00:56:55,536 --> 00:56:56,616
It's not trying to add lightning.

1004
00:56:56,896 --> 00:57:00,196
This is a way for you to interact with on-chain Bitcoin.

1005
00:57:00,196 --> 00:57:05,936
in a, I like to say it's funny because both Praveen and Craig kind of get offended when I

1006
00:57:05,936 --> 00:57:12,076
say this, but it's like kind of like Sparrow Wallet for mobile. And so, you know, I'm over

1007
00:57:12,076 --> 00:57:16,276
the target when both sides of the equation are like, wait, wait, wait, wait, we're trying to do

1008
00:57:16,276 --> 00:57:21,156
something a little bit different here. But I love Sparrow on desktop. I really like Cove on mobile.

1009
00:57:22,176 --> 00:57:27,456
So definitely, definitely check it out. Specifically, I personally really like using

1010
00:57:27,456 --> 00:57:33,936
it with cold cards. I use cold cards on a day-to-day basis with my friend. All my projects,

1011
00:57:34,076 --> 00:57:40,076
my family relies on them. My businesses rely on them. You can get your own cold card at

1012
00:57:40,076 --> 00:57:48,916
coldcard.com. Use code RHR for a discount. You're muted.

1013
00:57:53,196 --> 00:57:56,976
What I have in my hands is a cold card queue. Matt was mentioning the QR scanner.

1014
00:57:57,456 --> 00:58:00,556
You can use this with Cove, but also Cove is NFC enabled too.

1015
00:58:00,736 --> 00:58:01,656
And this has an NFC.

1016
00:58:02,356 --> 00:58:03,436
It's NFC compatible.

1017
00:58:03,756 --> 00:58:08,516
So if you don't want to scan the QR code, you can tap inside a transaction with a cold card.

1018
00:58:08,516 --> 00:58:09,996
I'm going to do the NFC stuff.

1019
00:58:11,156 --> 00:58:11,896
But it's a nice option.

1020
00:58:12,036 --> 00:58:15,296
Honestly, I like the scanner.

1021
00:58:16,236 --> 00:58:17,796
It feels tactile, you know?

1022
00:58:18,676 --> 00:58:18,816
Yeah.

1023
00:58:19,276 --> 00:58:21,996
I see that I'm scanning something and I scan it.

1024
00:58:22,956 --> 00:58:23,616
Is our bundle up?

1025
00:58:23,616 --> 00:58:24,336
It supports NFC.

1026
00:58:25,296 --> 00:58:26,016
I don't know.

1027
00:58:27,456 --> 00:58:36,696
but uh yeah no i think code's great i think cult guard's awesome but shout out profane

1028
00:58:36,696 --> 00:58:45,616
i'm checking uh bundles and then also freaks uh

1029
00:58:45,616 --> 00:58:49,656
i mean unless you're a new freak you're probably

1030
00:58:49,656 --> 00:59:00,216
aware that 1031 is the only external investor of coin kite uh the makers of cold card uh so it's

1031
00:59:00,216 --> 00:59:11,016
just the two founders nbk and his very quiet wizard co-founder uh peter yeah in the background um and

1032
00:59:11,016 --> 00:59:18,176
it's them and us are the only people that own shares of CoinKite.

1033
00:59:18,296 --> 00:59:20,536
Also, they are a sponsor of the show.

1034
00:59:21,276 --> 00:59:24,956
So we have been working with them recently and they want to give away cold cards.

1035
00:59:25,676 --> 00:59:31,836
So we gave away our first cold card last week and we'll be giving away another cold card

1036
00:59:31,836 --> 00:59:36,036
specifically to X users, which I know.

1037
00:59:37,116 --> 00:59:39,516
I know you're fixing to know how I feel about that aspect.

1038
00:59:39,516 --> 00:59:43,296
But if you're on X, just pay attention for the giveaway going on.

1039
00:59:43,376 --> 00:59:43,736
You know what?

1040
00:59:43,976 --> 00:59:47,576
Why should we leave the Nostra users out of this?

1041
00:59:47,656 --> 00:59:48,476
I think there's a way.

1042
00:59:49,676 --> 00:59:53,776
You know I've got a little AI slave employee right now.

1043
00:59:53,956 --> 01:00:06,036
We can have him vibe code up, a random generator that combines the Twitter tweet with the Nostra note, and we can pick a random out of the two.

1044
01:00:06,036 --> 01:00:16,256
Okay, so if you reply to the X post, well, you'll see.

1045
01:00:16,476 --> 01:00:27,276
A giveaway post will go out on Noster and it'll go out on X and just follow the instructions.

1046
01:00:29,496 --> 01:00:31,276
We'll figure it out after the show.

1047
01:00:31,636 --> 01:00:33,536
Obey. Obey. I'm kidding.

1048
01:00:33,536 --> 01:00:41,636
Also, use the code RHR anywhere with a promo code.

1049
01:00:41,776 --> 01:00:43,676
5% off literally any product.

1050
01:00:43,956 --> 01:00:44,396
Anywhere.

1051
01:00:44,916 --> 01:00:45,256
Anywhere.

1052
01:00:47,936 --> 01:00:49,236
I'll seriously say that.

1053
01:00:50,096 --> 01:00:51,276
While we're doing it,

1054
01:00:52,896 --> 01:00:54,496
drinksauté.com.

1055
01:00:54,976 --> 01:00:55,476
Salty water.

1056
01:00:56,256 --> 01:00:57,396
You get 15% off?

1057
01:00:57,436 --> 01:00:57,976
10% off?

1058
01:00:58,036 --> 01:00:58,596
I forget what it is.

1059
01:00:58,616 --> 01:00:59,596
Use code RHR.

1060
01:01:00,536 --> 01:01:01,436
Whatever salty water.

1061
01:01:01,436 --> 01:01:07,816
I had to travel for a board meeting yesterday,

1062
01:01:08,316 --> 01:01:09,236
in the last two days.

1063
01:01:09,416 --> 01:01:14,536
And when you're flying specifically, just keep chugging salt.

1064
01:01:14,536 --> 01:01:16,896
How high do the CO2 levels?

1065
01:01:17,256 --> 01:01:18,516
I forgot my monitor.

1066
01:01:20,536 --> 01:01:23,776
I feel like I have a feeling for it now.

1067
01:01:24,036 --> 01:01:26,216
It felt like we peaked around like 1700, 1800.

1068
01:01:28,676 --> 01:01:29,156
Okay.

1069
01:01:29,636 --> 01:01:31,016
Guys, we're pumping right now.

1070
01:01:31,016 --> 01:01:35,036
If you go to the hourly chart, we're up like 56 bips right now.

1071
01:01:35,196 --> 01:01:36,076
It's fucking sick.

1072
01:01:40,216 --> 01:01:41,256
You get to cherry pick.

1073
01:01:41,316 --> 01:01:42,956
You get to cherry pick any time frame you want.

1074
01:01:43,056 --> 01:01:43,976
Put it on the hour chart.

1075
01:01:44,096 --> 01:01:46,016
Things are looking great right now.

1076
01:01:48,496 --> 01:01:51,416
On to something more important, more impactful.

1077
01:01:51,576 --> 01:01:52,356
You mentioned this earlier.

1078
01:01:53,496 --> 01:01:58,416
Zero Hedge just tweeted out, which comes first,

1079
01:01:58,416 --> 01:02:02,456
Bitcoin 300K or global liquidity crash, which triggers a worldwide depression?

1080
01:02:06,056 --> 01:02:06,956
Wild times.

1081
01:02:07,796 --> 01:02:09,436
I think the former.

1082
01:02:11,396 --> 01:02:13,776
Because as we all know, the governments will never allow it to happen.

1083
01:02:13,976 --> 01:02:15,556
The liquidity crisis, they'll print the money.

1084
01:02:17,596 --> 01:02:18,896
They'll never allow it to happen.

1085
01:02:20,476 --> 01:02:40,054
On to the next update which is coming from another organization near and dear to Matt heart as a co OpenSats 2025 year in review How was it What did Gigi write about I just want to say Gigi was a little bit self that our year in review came out 27 days after

1086
01:02:40,054 --> 01:02:43,774
the year ended and I told him it was no rush.

1087
01:02:44,294 --> 01:02:48,834
I think you should be a little self-conscious. I liked my year in review stuff the first week.

1088
01:02:48,834 --> 01:02:55,254
So, you know, we're, we just want to get out good, ship a good, good review.

1089
01:02:55,254 --> 01:02:57,114
And I don't think there's a rush.

1090
01:02:57,174 --> 01:02:57,754
I think we're good.

1091
01:02:57,954 --> 01:02:59,974
But anyway, it's been a great year for open stats.

1092
01:03:00,074 --> 01:03:01,214
I'm incredibly proud of our team.

1093
01:03:03,094 --> 01:03:04,994
It's kind of, I mean, the stats are wild.

1094
01:03:05,174 --> 01:03:12,074
I think people just don't, you don't appreciate, even I, I'm like, I'm involved on a day-to-day

1095
01:03:12,074 --> 01:03:12,314
base.

1096
01:03:12,414 --> 01:03:14,894
I don't appreciate the scale of what we've accomplished so far.

1097
01:03:15,214 --> 01:03:16,174
And we're just getting started.

1098
01:03:16,174 --> 01:03:24,634
There's a lot more to do, but over $32 million worth of Bitcoin we have sent out to open source contributors.

1099
01:03:27,014 --> 01:03:35,894
That's 34.6 billion sats to 371 grant recipients in 40 plus countries.

1100
01:03:36,054 --> 01:03:37,814
We sent out about a million dollars a month.

1101
01:03:38,434 --> 01:03:41,574
I mean, freaks, this shouldn't be like a surprise to you.

1102
01:03:41,614 --> 01:03:42,774
I talk about a decent amount.

1103
01:03:42,774 --> 01:03:49,754
and obviously we do that without taking a single cut of donations so you can donate anonymously

1104
01:03:49,754 --> 01:03:54,674
you can zap us we have people that do podcast splits we do a podcast split for this if you're

1105
01:03:54,674 --> 01:04:00,414
streaming sats of the show some go to open sets you can donate dollars we'll automatically convert

1106
01:04:00,414 --> 01:04:06,114
into bitcoin we'll hold it in multi-sig and every month without taking a cut of donations

1107
01:04:06,114 --> 01:04:09,014
we send out about a million dollars worth of Bitcoin

1108
01:04:09,014 --> 01:04:12,574
to like at any given time,

1109
01:04:12,654 --> 01:04:14,974
like roughly like 200 grand recipients.

1110
01:04:16,494 --> 01:04:20,274
To 2025 specifically, we added 131 new grants

1111
01:04:20,274 --> 01:04:22,394
and we renewed 113.

1112
01:04:25,414 --> 01:04:28,194
So I think we've done a pretty good job with it.

1113
01:04:28,374 --> 01:04:29,254
You know, are we perfect?

1114
01:04:29,394 --> 01:04:29,594
No.

1115
01:04:30,154 --> 01:04:31,714
Are we one of the most transparent,

1116
01:04:31,854 --> 01:04:33,974
most efficient, most effective charities in the world?

1117
01:04:34,054 --> 01:04:34,954
I would say yes.

1118
01:04:34,954 --> 01:04:37,214
and we'll make it even better.

1119
01:04:37,454 --> 01:04:38,014
That's our plan.

1120
01:04:39,694 --> 01:04:41,134
I think you're selling yourself short.

1121
01:04:41,234 --> 01:04:41,894
Don't be so humble.

1122
01:04:42,054 --> 01:04:43,554
We all know you're the most humble man in Bitcoin.

1123
01:04:44,694 --> 01:04:45,874
You guys are crushing it.

1124
01:04:46,554 --> 01:04:47,734
It's very important work.

1125
01:04:48,274 --> 01:04:49,254
I don't pretend to be humble.

1126
01:04:49,634 --> 01:04:50,514
I don't pretend to be humble.

1127
01:04:50,674 --> 01:04:53,134
I just remind myself that it's important to stay humble.

1128
01:04:53,474 --> 01:04:54,774
So, Binder, I appreciate it.

1129
01:04:54,894 --> 01:04:56,694
And just due to the nature of the show,

1130
01:04:56,774 --> 01:04:58,974
week in, week out, we're working together at 1031.

1131
01:04:59,194 --> 01:05:00,114
A lot of people think I'm involved.

1132
01:05:00,114 --> 01:05:02,194
I mean, I am loosely involved in the sense of,

1133
01:05:02,294 --> 01:05:03,974
like, if anybody wants to go to OpenSats.

1134
01:05:03,974 --> 01:05:05,654
sometimes I help

1135
01:05:05,654 --> 01:05:08,414
think about how to frame a proposal

1136
01:05:08,414 --> 01:05:10,534
if anybody wants to

1137
01:05:10,534 --> 01:05:11,954
donate I'm like go to OpenSats

1138
01:05:11,954 --> 01:05:13,694
it's so minor I saw he was tweeting

1139
01:05:13,694 --> 01:05:16,434
thank you Marty and Matt for OpenSats

1140
01:05:16,434 --> 01:05:18,374
to be clear I have no official

1141
01:05:18,374 --> 01:05:20,594
association with OpenSats

1142
01:05:20,594 --> 01:05:20,994
I am

1143
01:05:20,994 --> 01:05:24,054
a humble bystander who is very proud

1144
01:05:24,054 --> 01:05:25,774
of my co-host

1145
01:05:25,774 --> 01:05:27,554
and co-partner

1146
01:05:27,554 --> 01:05:29,274
for doing what he does

1147
01:05:29,274 --> 01:05:30,634
you guys are crushing it

1148
01:05:30,634 --> 01:05:31,894
thank you sir

1149
01:05:31,894 --> 01:05:35,454
Speaking of crushing it, we crushed it

1150
01:05:35,454 --> 01:05:37,494
in Podcasting 2.0

1151
01:05:37,494 --> 01:05:38,994
Boost last week. Rabbit hole recap.

1152
01:05:39,834 --> 01:05:40,434
393.

1153
01:05:41,154 --> 01:05:42,474
Our future is bright.

1154
01:05:44,274 --> 01:05:45,574
OB, 40,000

1155
01:05:45,574 --> 01:05:47,174
sats. Excited for the conversation

1156
01:05:47,174 --> 01:05:49,434
that took place on Sessions recently.

1157
01:05:50,894 --> 01:05:51,434
Simon Dixon

1158
01:05:51,434 --> 01:05:53,234
versus Jeff Booth. Excellent signal.

1159
01:05:53,534 --> 01:05:55,414
I'm always confused why Simon does not get

1160
01:05:55,414 --> 01:05:55,994
more exposure.

1161
01:05:56,994 --> 01:05:58,934
I would like to see him on Citadel and TFTC.

1162
01:05:59,514 --> 01:06:01,394
It was a welcome white pill. A masterclass

1163
01:06:01,394 --> 01:06:01,854
from Jeff.

1164
01:06:01,894 --> 01:06:02,954
we are winning

1165
01:06:02,954 --> 01:06:03,334
Marty

1166
01:06:03,334 --> 01:06:03,894
can you get

1167
01:06:03,894 --> 01:06:04,934
Doonberg on TFTC

1168
01:06:04,934 --> 01:06:09,414
getting scam calls

1169
01:06:09,414 --> 01:06:09,974
somebody's trying to

1170
01:06:09,974 --> 01:06:10,574
change my email

1171
01:06:10,574 --> 01:06:11,054
apparently

1172
01:06:11,054 --> 01:06:12,154
not today

1173
01:06:12,154 --> 01:06:13,794
not today's scammer

1174
01:06:13,794 --> 01:06:16,714
I was in contact

1175
01:06:16,714 --> 01:06:17,074
with Simon

1176
01:06:17,074 --> 01:06:17,614
we were supposed to

1177
01:06:17,614 --> 01:06:18,074
set something up

1178
01:06:18,074 --> 01:06:18,494
for this month

1179
01:06:18,494 --> 01:06:19,274
but never

1180
01:06:19,274 --> 01:06:21,474
never able to

1181
01:06:21,474 --> 01:06:21,794
coordinate

1182
01:06:21,794 --> 01:06:23,194
maybe I'll have

1183
01:06:23,194 --> 01:06:24,774
work on getting

1184
01:06:24,774 --> 01:06:25,434
him on Doonberg

1185
01:06:25,434 --> 01:06:26,834
I haven't had him

1186
01:06:26,834 --> 01:06:27,294
on in like

1187
01:06:27,294 --> 01:06:28,334
five years

1188
01:06:28,334 --> 01:06:28,874
six years

1189
01:06:28,874 --> 01:06:29,174
it was like

1190
01:06:29,174 --> 01:06:29,394
COVID

1191
01:06:29,394 --> 01:06:30,014
didn't Simon

1192
01:06:30,014 --> 01:06:30,754
get wrecked

1193
01:06:30,754 --> 01:06:31,454
on Bcash

1194
01:06:32,314 --> 01:06:32,994
I have no idea.

1195
01:06:34,094 --> 01:06:36,094
I remember him from the Bcash days,

1196
01:06:36,234 --> 01:06:38,914
and then he disappeared, and then he just re-showed up.

1197
01:06:39,674 --> 01:06:41,194
I mean, his defense, like Bank to the Future,

1198
01:06:41,294 --> 01:06:42,994
I think they got in the seed round of Coinbase,

1199
01:06:43,094 --> 01:06:44,774
so I think he's doing fine.

1200
01:06:45,454 --> 01:06:45,894
Did all right.

1201
01:06:46,694 --> 01:06:46,954
Yeah.

1202
01:06:47,994 --> 01:06:49,934
Thank you for the boost, 40,000 sats.

1203
01:06:50,334 --> 01:06:54,154
BTC NIM, Lemon, 22,500 sats.

1204
01:06:54,154 --> 01:06:56,254
Enjoy this 25,000 sat boost.

1205
01:06:56,414 --> 01:06:58,154
I use code RHR and save 10%.

1206
01:06:58,794 --> 01:06:59,954
BTC NIM.

1207
01:06:59,954 --> 01:07:01,614
We have no idea where.

1208
01:07:02,394 --> 01:07:05,694
I think he just sent in his taxes and used the code RHR.

1209
01:07:06,134 --> 01:07:07,254
He got a 10% discount.

1210
01:07:07,754 --> 01:07:08,214
Try it.

1211
01:07:08,414 --> 01:07:08,694
Love it.

1212
01:07:09,614 --> 01:07:12,214
Orange Horizon making up for the big kerfuffle last week.

1213
01:07:12,374 --> 01:07:14,114
If you guys don't remember,

1214
01:07:15,214 --> 01:07:17,994
he told us to tell all of you to go buy a sunscreen

1215
01:07:17,994 --> 01:07:21,814
and then didn't leave a URL and didn't have one on his profile.

1216
01:07:22,674 --> 01:07:25,994
So you were left wandering the internet to find the sunscreen.

1217
01:07:25,994 --> 01:07:30,714
He sent us 21,212 Sats palindrome boost.

1218
01:07:30,814 --> 01:07:37,314
After last week's marketing critique on RHR number 392, we are back again so Marty can share the URL to shop our products.

1219
01:07:38,134 --> 01:07:41,994
TakeMySats.com slash orange dash horizon.

1220
01:07:42,754 --> 01:07:46,254
TakeMySats.com slash orange dash horizon.

1221
01:07:46,674 --> 01:07:54,514
We'll also appreciate Marty Jones' thoughts on sun exposure, conventional sunscreens, sun creams, excuse me.

1222
01:07:54,514 --> 01:08:01,554
The theory that consuming seed oils leads to sunburn and why you should use Orange Horizon natural sunblock instead.

1223
01:08:02,334 --> 01:08:12,474
Shout out to BullishBitcoiner who continues to grind and push out incredible Nostra link tools in web stores such as TakeMySats.com and the Bullish Marketplace held on the 21st of each month.

1224
01:08:16,254 --> 01:08:22,434
Thoughts? I mean, as a pale-skinned Irishman, American citizen, Irish heritage.

1225
01:08:24,514 --> 01:08:25,254
I get burnt.

1226
01:08:26,134 --> 01:08:27,694
I'm going to be like, get my base burn.

1227
01:08:28,434 --> 01:08:29,114
I go down the shore.

1228
01:08:29,194 --> 01:08:29,694
I go to the beach.

1229
01:08:29,794 --> 01:08:34,054
I spend three months of the year in heavy sun, peak sun season.

1230
01:08:35,034 --> 01:08:37,374
Base burn, a little burnt for like a week.

1231
01:08:38,114 --> 01:08:40,994
My wife demands that I put sunscreen, sun cream on.

1232
01:08:42,694 --> 01:08:43,874
Horizon, you'll be happy to know.

1233
01:08:43,994 --> 01:08:45,834
It's mineral-based, tallow-based.

1234
01:08:46,614 --> 01:08:49,514
So when I do put it on to protect my pale skin,

1235
01:08:49,594 --> 01:08:51,274
spend a lot of time in the sun, that's what I use.

1236
01:08:51,274 --> 01:08:56,134
But yeah, I mean, I wouldn't be surprised if the seed oils contribute to sunburn.

1237
01:08:57,754 --> 01:09:00,314
I think big sunscreen is definitely not helping people.

1238
01:09:00,574 --> 01:09:12,114
I haven't done deep analytical research on the literature as it pertains to the connection between sunscreens and skin cancer,

1239
01:09:12,254 --> 01:09:16,074
but I would not be shocked if skin cancer and sunscreen are linked.

1240
01:09:17,174 --> 01:09:19,914
You just put chemicals on and they burn into your skin.

1241
01:09:19,914 --> 01:09:23,734
Like mainstream corporate sunscreen is like literally just poison.

1242
01:09:23,874 --> 01:09:28,474
You're just like putting poison all over your pores and all over your skin.

1243
01:09:29,354 --> 01:09:34,194
But I think, you know, in the spirit of everyone being mad at you, I also think

1244
01:09:34,194 --> 01:09:42,254
the good opinions, you have people on all the sides get mad at you.

1245
01:09:42,794 --> 01:09:48,174
You know, I also think extended sun exposure without any kind of protection is probably

1246
01:09:48,174 --> 01:09:49,054
horrible for you.

1247
01:09:49,914 --> 01:09:50,474
Yeah.

1248
01:09:51,214 --> 01:09:55,954
Yeah, if you look past my receding hairline, you'll see some sunspots in my head.

1249
01:09:56,234 --> 01:09:59,814
My wife's very adamant about me wearing a hat at the beach, which I do.

1250
01:10:00,974 --> 01:10:01,614
I do.

1251
01:10:02,614 --> 01:10:05,734
Madness are 1031 weekly catch-up calls in the summer.

1252
01:10:05,854 --> 01:10:12,214
I'm usually out on my morning walk, getting push-ups in, no shirt on the beach, but always lathered.

1253
01:10:12,494 --> 01:10:13,594
And mineral-based sunscreen.

1254
01:10:14,534 --> 01:10:18,694
Orange Horizon, I'm sure you'll let me know that that's going to give me cancer, too.

1255
01:10:18,854 --> 01:10:19,794
So I can't wait for that.

1256
01:10:19,914 --> 01:10:23,754
this is

1257
01:10:23,754 --> 01:10:26,474
this what is going on here

1258
01:10:26,474 --> 01:10:29,774
how does this happen how i've never heard of this guy

1259
01:10:29,774 --> 01:10:33,834
until yesterday yeah i mean why would we

1260
01:10:33,834 --> 01:10:40,254
i mean cisa like it's a pretty it's a it's always in the news uh

1261
01:10:40,254 --> 01:10:44,574
in terms of what i mean during the biden administration like surveilling people but

1262
01:10:44,574 --> 01:10:48,734
trump's acting cyber that uploaded sensitive files into a public

1263
01:10:48,734 --> 01:10:55,354
version of chat gbt the interim director of cyber security and infrastructure security agency

1264
01:10:55,354 --> 01:11:02,334
triggered an internal cyber security warning with the uploads and a dhs level damage assessment um

1265
01:11:02,334 --> 01:11:07,854
so the interim head of the country cyber defense agency uploaded sensitive contracting documents

1266
01:11:07,854 --> 01:11:11,554
into a public version of chat gbt last summer triggering multiple automated security warnings

1267
01:11:11,554 --> 01:11:16,354
that are meant to stop the theft or unintentional disclosure of government material from federal

1268
01:11:16,354 --> 01:11:20,634
networks. According to the Department of Homeland Security officials with knowledge of the incident,

1269
01:11:20,774 --> 01:11:24,554
the apparent misstep from Madhu Ghatumukala

1270
01:11:24,554 --> 01:11:28,814
was especially noteworthy

1271
01:11:28,814 --> 01:11:32,634
because the acting director of the Cybersecurity and Infrastructure Security Agency

1272
01:11:32,634 --> 01:11:36,654
had requested special permission from CISA's Office of the

1273
01:11:36,654 --> 01:11:40,654
Chief Information Officer to use the popular AI tool soon after arriving at

1274
01:11:40,654 --> 01:11:44,474
the agency this May. Interim director

1275
01:11:44,474 --> 01:11:50,274
shows up, it's like, hey, I need access to JATGBT to load up all these sensitive files.

1276
01:11:50,774 --> 01:11:56,334
I mean, you're supposed to be securing infrastructure in cyberspace.

1277
01:11:56,554 --> 01:12:00,754
And it seems like a pretty bad mess up.

1278
01:12:01,234 --> 01:12:04,014
This is something that I wouldn't even mess up.

1279
01:12:04,014 --> 01:12:08,594
I would be a better interim director of this agency.

1280
01:12:08,594 --> 01:12:16,094
I mean, look, I think this is a theme that's just going to get worse and worse.

1281
01:12:16,614 --> 01:12:18,914
And I mean, this is the scary part, right?

1282
01:12:20,674 --> 01:12:21,934
And I talked about this.

1283
01:12:21,934 --> 01:12:28,234
I had marks on dispatch, and we talked about this specifically.

1284
01:12:28,234 --> 01:12:37,354
like the scary part of the data collection that is happening with people using these

1285
01:12:37,354 --> 01:12:43,734
like big tech AI tools, right? These non-private hosted

1286
01:12:43,734 --> 01:12:49,854
AI tools that are harvesting all of their information is that you don't even have to

1287
01:12:49,854 --> 01:12:54,774
use it to be compromised by it. Like if your accountant or your doctor or your government

1288
01:12:54,774 --> 01:13:00,854
officials are using it then they're just uploading all of the shit and then not only do they have the

1289
01:13:00,854 --> 01:13:06,154
shit once you upload it but then they also have the llms that make it very easy for them to sort

1290
01:13:06,154 --> 01:13:12,474
through all that fucking data and then use it against people um so i you know i think this

1291
01:13:12,474 --> 01:13:22,754
probably gets worse before it gets better um and this is just a you know the the first major example

1292
01:13:22,754 --> 01:13:28,974
of it and then the last piece here which is interesting is i'm pretty sure the feds that

1293
01:13:28,974 --> 01:13:34,774
they contract with a bunch of these guys including chad gpt and grok and anthropic and they have like

1294
01:13:34,774 --> 01:13:40,574
their own government version yeah which i think he's allowed to upload to the department of war

1295
01:13:40,574 --> 01:13:47,034
i think has one yeah but i bet you like that is also probably horrible in like in like security

1296
01:13:47,034 --> 01:13:52,034
wise like they they just have like a contract that's like sam altman's like hey it's private

1297
01:13:52,034 --> 01:13:53,654
We'll keep it safe.

1298
01:13:53,894 --> 01:13:55,734
It's just a trust me, bro.

1299
01:13:55,794 --> 01:13:57,254
It's a trust me, bro relationship.

1300
01:14:04,594 --> 01:14:08,174
Somebody's saying American Bitcoin with the Trump brothers and eight.

1301
01:14:09,934 --> 01:14:11,134
Don't read his post.

1302
01:14:11,134 --> 01:14:11,834
52%.

1303
01:14:11,834 --> 01:14:12,934
That's, yeah.

1304
01:14:13,354 --> 01:14:19,794
He also said, he said higher up, the 2025 price of Bitcoin is the all-time high for Bitcoin.

1305
01:14:19,914 --> 01:14:21,134
It is truly over from here.

1306
01:14:21,134 --> 01:14:29,054
okay so look look this is the cool part about bitcoin you can disagree with us i am fine with

1307
01:14:29,054 --> 01:14:34,934
that and place your bets accordingly and we'll you know we'll see who whose family ends up on top

1308
01:14:34,934 --> 01:14:40,154
afterwards that's the cool part if we're wrong you know i'm gonna be poor as fuck

1309
01:14:40,154 --> 01:14:46,674
we had fun though that'll be the answer yeah well we had a lot of fun even if we even if we lose

1310
01:14:46,674 --> 01:14:48,714
that's the

1311
01:14:48,714 --> 01:14:50,334
that's the cool part

1312
01:14:50,334 --> 01:14:51,454
it's PVP

1313
01:14:51,454 --> 01:14:54,514
let's place your bets

1314
01:14:54,514 --> 01:14:56,614
player versus player

1315
01:14:56,614 --> 01:15:00,154
I'm not taking

1316
01:15:00,154 --> 01:15:01,474
weed edibles playing GTA

1317
01:15:01,474 --> 01:15:04,514
I forget the nomenclature of the gaming world

1318
01:15:04,514 --> 01:15:08,394
PVE is

1319
01:15:08,394 --> 01:15:10,354
player versus everyone and PVP is

1320
01:15:10,354 --> 01:15:12,634
player versus player

1321
01:15:12,634 --> 01:15:14,314
yeah

1322
01:15:14,314 --> 01:15:19,394
last thing on the list

1323
01:15:19,394 --> 01:15:21,194
I got 20 minutes

1324
01:15:21,194 --> 01:15:23,574
so we can chat after this

1325
01:15:23,574 --> 01:15:25,614
TikTok has updated its privacy policy

1326
01:15:25,614 --> 01:15:27,714
after Larry Ellison

1327
01:15:27,714 --> 01:15:28,694
bought them, Oracle

1328
01:15:28,694 --> 01:15:30,934
or was it Larry personally and his son

1329
01:15:30,934 --> 01:15:33,754
I think it was Larry personally

1330
01:15:33,754 --> 01:15:35,154
no his son bought

1331
01:15:35,154 --> 01:15:37,974
CBS or some shit

1332
01:15:37,974 --> 01:15:38,834
oh yeah

1333
01:15:38,834 --> 01:15:40,074
CBS

1334
01:15:40,074 --> 01:15:43,054
because it's separate, it's not connected

1335
01:15:43,054 --> 01:15:44,054
No.

1336
01:15:44,054 --> 01:16:03,314
But yeah, this was the most obvious thing about the TikTok deal was the US government forced the CCP to sell TikTok to a US big tech insider, Larry Ellison, so that they could use it to surveil everyone and control thoughts and how it's used.

1337
01:16:03,314 --> 01:16:05,154
And they're already seeing a bunch of censorship happen.

1338
01:16:05,154 --> 01:16:18,814
And the first order of business, besides the censorship, is updating the privacy policy to like, we're going to track everything you fucking do and ultimately use it against people.

1339
01:16:19,674 --> 01:16:23,714
And just to be clear here, the CCP was definitely also doing this.

1340
01:16:24,074 --> 01:16:25,974
They just don't care about privacy policies.

1341
01:16:26,754 --> 01:16:30,034
So like, that's like the difference between the East and the West.

1342
01:16:30,034 --> 01:16:42,474
It's like they have lawyers – in the West, we have lawyers that put it all in the privacy policy because they know no one is going to freaking read it and still track and control everything you fucking do.

1343
01:16:43,634 --> 01:16:47,434
And then the CCP, they just do it, and if you disagree, they send you to the gulag.

1344
01:16:48,834 --> 01:16:48,934
Yeah.

1345
01:16:49,514 --> 01:16:53,474
Yeah, one of the first things they censored was the mention of Epstein in DMs.

1346
01:16:53,554 --> 01:16:54,054
Did you see that?

1347
01:16:54,194 --> 01:16:55,134
Yeah, even in DMs.

1348
01:16:55,154 --> 01:16:56,414
It's not even public posts.

1349
01:16:57,314 --> 01:16:57,534
Yeah.

1350
01:16:59,054 --> 01:16:59,454
Interesting.

1351
01:17:00,034 --> 01:17:02,094
Transition into the banter section.

1352
01:17:02,654 --> 01:17:03,354
Be aware on TikTok.

1353
01:17:04,414 --> 01:17:05,334
Not a free platform.

1354
01:17:06,194 --> 01:17:07,414
Sticking with Oracle, though,

1355
01:17:08,874 --> 01:17:16,694
the Oracle collateralized debt securities,

1356
01:17:17,054 --> 01:17:18,394
their CDS rates, basically,

1357
01:17:18,714 --> 01:17:24,014
which prices in how risky their debt exposure is,

1358
01:17:24,014 --> 01:17:28,294
is at its highest point since the great financial crisis.

1359
01:17:28,294 --> 01:17:35,474
and about 30% higher, 33% higher than it was during COVID.

1360
01:17:36,554 --> 01:17:39,654
To bring this up, Oracle, I think it's part of the Starship program.

1361
01:17:39,754 --> 01:17:43,834
I think building a ton of data centers for open AI specifically

1362
01:17:43,834 --> 01:17:46,894
has taken on a lot of debt to do this.

1363
01:17:47,294 --> 01:17:51,274
And I don't know, this could be a signal that there is an AI bubble

1364
01:17:51,274 --> 01:17:53,954
and there are stressors out there who's going to foot this bill.

1365
01:17:53,954 --> 01:18:10,354
Obviously, we know the Trump administration views the expansion of the energy grid and implementation of AI data centers to win the large language model wars is an existential threat.

1366
01:18:10,354 --> 01:18:26,054
So maybe there will be a big daddy government bailout of this, but I just want to flag this while we're talking about Larry Ellison because not a great signal of financial strength from Oracle, which is a key player in this AI wave right now.

1367
01:18:29,754 --> 01:18:31,854
Yeah, I mean, I think they'd all just be bailed out.

1368
01:18:33,954 --> 01:18:36,714
I mean, that's the crazy, right?

1369
01:18:36,714 --> 01:18:38,714
We have a big tech...

1370
01:18:38,714 --> 01:18:43,474
The big tech guys have all joined the oligarchy in America.

1371
01:18:44,274 --> 01:18:45,274
It's all intertwined.

1372
01:18:47,594 --> 01:18:52,094
And the beautiful thing is if you have big tech spying control on people,

1373
01:18:52,174 --> 01:18:52,974
you don't need a warrant.

1374
01:18:56,894 --> 01:18:58,894
It's an end around in the Constitution.

1375
01:18:58,894 --> 01:19:00,354
so

1376
01:19:00,354 --> 01:19:04,834
most of these guys are just

1377
01:19:04,834 --> 01:19:06,514
I think

1378
01:19:06,514 --> 01:19:09,414
they've come to the conclusion that they can take

1379
01:19:09,414 --> 01:19:12,614
insane risk

1380
01:19:12,614 --> 01:19:14,574
they can take way additional risk on

1381
01:19:14,574 --> 01:19:16,214
because they know they'll be bailed out

1382
01:19:16,214 --> 01:19:19,054
yeah

1383
01:19:19,054 --> 01:19:21,734
it's interesting

1384
01:19:21,734 --> 01:19:22,974
you know

1385
01:19:22,974 --> 01:19:24,214
this is like

1386
01:19:24,214 --> 01:19:25,714
this is one of those weeks

1387
01:19:25,714 --> 01:19:27,734
it's going to sound cheesy

1388
01:19:27,734 --> 01:19:36,334
I know you're going to be like, Marnie, you're like, you're succumbing to the hype cycle of the day.

1389
01:19:36,994 --> 01:19:41,874
But I downloaded, you set up a Claude bot.

1390
01:19:42,134 --> 01:19:44,814
I did say it because I know exactly what's going to be thrown at you.

1391
01:19:45,574 --> 01:19:48,834
Defend yourself by, it's the eight mile strategy.

1392
01:19:49,194 --> 01:19:53,094
It's the last rap battle where Eminem comes up.

1393
01:19:53,154 --> 01:19:54,074
He's like, yeah, I'm white.

1394
01:19:54,194 --> 01:19:54,774
Yeah, I went to Pride.

1395
01:19:54,774 --> 01:19:55,894
I know what you're going to say.

1396
01:19:57,734 --> 01:19:58,574
I set up a Claudebot.

1397
01:19:59,974 --> 01:20:02,474
I haven't slept much this week because it's been very productive.

1398
01:20:02,774 --> 01:20:05,434
The reason I bring it up is because you look at charts like that

1399
01:20:05,434 --> 01:20:10,494
and you realize the productivity gains of AI,

1400
01:20:11,314 --> 01:20:14,494
like I have over the last year,

1401
01:20:15,194 --> 01:20:17,154
very specifically this last four days.

1402
01:20:17,154 --> 01:20:22,194
It's insane what Maltbot, previously Claudebot, can do once you set it up.

1403
01:20:23,594 --> 01:20:26,734
But it does beg the question because I'm using a lot of new open source

1404
01:20:26,734 --> 01:20:31,134
models via the Maple proxy that I set up for my

1405
01:20:31,134 --> 01:20:35,274
Moldbot. And it does make you wonder how much capital

1406
01:20:35,274 --> 01:20:37,974
misallocation are all these hyperscalers

1407
01:20:37,974 --> 01:20:43,114
forcing on the market when a lot of these open source models are

1408
01:20:43,114 --> 01:20:46,814
getting just as good and much cheaper than the

1409
01:20:46,814 --> 01:20:51,194
Frontier models. Akimik K25 launched this week

1410
01:20:51,194 --> 01:20:54,994
and it seems like it's better than Opus 4.5 on a bunch of different metrics.

1411
01:20:56,734 --> 01:21:08,634
yeah i i mean i don't know i i do think um were you not impressed with what i showed you this week

1412
01:21:08,634 --> 01:21:17,694
i mean i was kind of impressed uh i uh look i like i think um i think they're making a

1413
01:21:17,694 --> 01:21:21,314
calculation that this stuff is going to be ingrained in all aspects of society

1414
01:21:21,314 --> 01:21:25,154
and they don't want to be left behind.

1415
01:21:25,334 --> 01:21:26,954
So it makes sense, right?

1416
01:21:27,234 --> 01:21:29,034
Where a lot of the expense is going on,

1417
01:21:29,074 --> 01:21:31,034
specifically on the foundational models, right?

1418
01:21:31,274 --> 01:21:34,494
Like the question is, I think,

1419
01:21:34,654 --> 01:21:37,154
is there like going to be a real moat there?

1420
01:21:37,274 --> 01:21:38,234
Probably not.

1421
01:21:39,294 --> 01:21:42,454
Like the moat is probably closer to

1422
01:21:42,454 --> 01:21:46,734
where you interact directly with the user, right?

1423
01:21:46,734 --> 01:21:50,494
So, and then also data access.

1424
01:21:50,494 --> 01:21:51,954
I think data access is important.

1425
01:21:52,154 --> 01:21:56,154
So what's interesting about Claudebot, right?

1426
01:21:56,234 --> 01:21:59,294
So Claudebot is an open source piece of software that you run,

1427
01:21:59,334 --> 01:22:00,854
and then you like connect it to a bunch.

1428
01:22:00,954 --> 01:22:01,734
It's an agent, right?

1429
01:22:01,734 --> 01:22:03,674
So you're like connecting it to a bunch of,

1430
01:22:05,034 --> 01:22:08,674
you're connecting it to whatever LLMs you want to use it for.

1431
01:22:08,774 --> 01:22:11,054
And technically they can be self-hosted LLMs.

1432
01:22:11,714 --> 01:22:15,614
But if you want the latest and greatest, you're not self-hosting it.

1433
01:22:15,634 --> 01:22:16,754
It would be way too expensive.

1434
01:22:16,754 --> 01:22:22,714
so you're like pinging an outside server but then you're also connecting it to accounts

1435
01:22:22,714 --> 01:22:27,354
right and then so then how are you also so there's two pieces like how are you interacting with it

1436
01:22:27,354 --> 01:22:35,234
and what data is it interacting with and so how are you interacting with it I think the

1437
01:22:36,354 --> 01:22:43,534
the the manufacturers of the devices that we're using have an advantage they're remote wise right

1438
01:22:43,534 --> 01:22:46,074
So like iPhone, Macs, right?

1439
01:22:46,154 --> 01:22:49,194
Everyone, like a bunch of people are going out and buying Mac minis to run CloudBot.

1440
01:22:49,614 --> 01:22:55,874
Like you can imagine, even if something is slightly inferior and it's already running natively on a Mac, most people are going to use that.

1441
01:22:57,534 --> 01:23:00,954
And then you have, where is the data?

1442
01:23:02,014 --> 01:23:09,934
And what data, so then you're giving access to the data to actually make informed decisions and do things.

1443
01:23:09,934 --> 01:23:17,114
You know, whatever, you know, in the simplest form, like make a deck on company metrics or

1444
01:23:17,114 --> 01:23:18,114
something.

1445
01:23:18,114 --> 01:23:19,934
And that's where things like...

1446
01:23:19,992 --> 01:23:25,692
that's where like and so if you mix both those together google has such a massive fucking

1447
01:23:25,692 --> 01:23:34,012
advantage because they have all the data they g suite dominates in business right so they have

1448
01:23:34,012 --> 01:23:37,712
all your docs you don't have to give them like authentication tokens and stuff they have all your

1449
01:23:37,712 --> 01:23:44,732
docs all your emails your calendar all that shit already um and then they also obviously have android

1450
01:23:44,732 --> 01:23:53,372
they're powering their gemini their ai shit is powering samsung uh which is the largest

1451
01:23:53,372 --> 01:23:57,592
manufacturer of phones and then the second largest manufacturer is iphone and they're

1452
01:23:57,592 --> 01:24:03,512
powering iphone as well um and then so like okay so then to your original question why are they

1453
01:24:03,512 --> 01:24:09,692
spending so much on foundational models can you imagine so google has that lead in those two mode

1454
01:24:09,692 --> 01:24:14,232
levels and then what they're going to use some model that they don't have full control over like

1455
01:24:14,232 --> 01:24:18,512
it makes sense they would spend a shit ton of money on gemini so like but in that situation

1456
01:24:18,512 --> 01:24:23,552
gemini is almost like the lost leader it's not the moat it might not even be the thing that makes

1457
01:24:23,552 --> 01:24:28,952
them the money um it's the data harvesting that will probably make them the money um but they

1458
01:24:28,952 --> 01:24:38,732
need it as a part of the of the package right yeah no that makes a lot of sense it is funny

1459
01:24:38,732 --> 01:24:42,952
though how competitive it is like can we k2 five coming out this week it's like holy shit

1460
01:24:42,952 --> 01:24:45,192
I haven't tested it yet because I'm not

1461
01:24:45,192 --> 01:24:46,992
piping into

1462
01:24:46,992 --> 01:24:48,932
an API service that feeds

1463
01:24:48,932 --> 01:24:50,972
data back to servers hosted in

1464
01:24:50,972 --> 01:24:51,252
China.

1465
01:24:52,292 --> 01:24:54,952
Mark and Anthony, I know you're working on it,

1466
01:24:55,272 --> 01:24:56,852
but Kimmy K2.5 and Maple

1467
01:24:56,852 --> 01:24:57,652
would be awesome.

1468
01:25:00,452 --> 01:25:01,332
Yeah, it's fun.

1469
01:25:02,452 --> 01:25:03,112
But that

1470
01:25:03,112 --> 01:25:04,972
dynamic is also interesting,

1471
01:25:05,132 --> 01:25:06,172
right? Because

1472
01:25:06,172 --> 01:25:11,072
the CCP models know

1473
01:25:11,072 --> 01:25:12,492
they have to be open source.

1474
01:25:12,952 --> 01:25:16,292
no one's going to trust a CCP model that's not open source.

1475
01:25:16,292 --> 01:25:19,712
I mean, you shouldn't trust a proprietary American model either,

1476
01:25:19,712 --> 01:25:22,212
but people do, they don't really care about it.

1477
01:25:23,712 --> 01:25:26,432
But we do have this advantage on the open source side

1478
01:25:26,432 --> 01:25:39,156
in this particular dynamic that the CCP wants people to use their models which have CCP tints to them If you ask a CCP model what the best company in the world

1479
01:25:40,216 --> 01:25:40,836
It's Claude.

1480
01:25:40,836 --> 01:25:46,456
No, that's how you know it's Chinese.

1481
01:25:46,876 --> 01:25:48,656
It's because you ask, hello, who made you?

1482
01:25:48,836 --> 01:25:51,916
Like Claude, it's like, oh, yeah, you just stole all their data.

1483
01:25:52,496 --> 01:25:53,956
You trained against the competitors.

1484
01:25:54,696 --> 01:25:58,096
But also, you ask them what happened at Tiananmen Square or whatever,

1485
01:25:58,156 --> 01:26:00,436
and they'll be like, oh, nothing happened.

1486
01:26:01,676 --> 01:26:05,256
So they have their censorship hooks at the model level

1487
01:26:05,256 --> 01:26:07,176
and then they have to offer it open source

1488
01:26:07,176 --> 01:26:09,236
and otherwise no one else would use it.

1489
01:26:10,456 --> 01:26:13,056
So it's an interesting dynamic at play.

1490
01:26:14,196 --> 01:26:14,256
Yeah.

1491
01:26:15,536 --> 01:26:18,836
I see Mark's in the chat from Maple.

1492
01:26:20,416 --> 01:26:22,576
They have it on strong intel that multiple people

1493
01:26:22,576 --> 01:26:23,816
in the US government are using Maple

1494
01:26:23,816 --> 01:26:25,016
for current legislative work.

1495
01:26:25,076 --> 01:26:25,876
You love to see it.

1496
01:26:25,876 --> 01:26:28,096
shouldn't be using

1497
01:26:28,096 --> 01:26:28,596
ChachiBT.

1498
01:26:29,716 --> 01:26:32,076
You say you love to see it, but then Mark's next

1499
01:26:32,076 --> 01:26:33,936
comment says, but we can't see it.

1500
01:26:35,576 --> 01:26:37,696
Because by design, they can't see what's happening.

1501
01:26:38,416 --> 01:26:39,276
I can't see it. It's true.

1502
01:26:41,796 --> 01:26:43,876
How is Kimi 2.5 a cloud model

1503
01:26:43,876 --> 01:26:44,916
but still open source?

1504
01:26:45,136 --> 01:26:47,296
I mean, the makers of Kimi,

1505
01:26:47,676 --> 01:26:50,056
they host it. If you want to use

1506
01:26:50,056 --> 01:26:51,976
their API, you can pipe in,

1507
01:26:51,976 --> 01:26:53,016
but it's also open source.

1508
01:26:53,716 --> 01:26:55,556
So anyone can host it.

1509
01:26:55,876 --> 01:26:59,456
Yeah, you're just waiting for people to set up the infrastructure to host it and test it.

1510
01:26:59,636 --> 01:27:05,396
Yeah, there's providers, there's independent providers that are hosting open source models for other people.

1511
01:27:05,396 --> 01:27:15,876
Because if you want to host Kimmy K2 yourself, even though it's open source, like if you want to self-host it, it costs you, I don't know, about like $30,000 or $40,000 or something in equipment.

1512
01:27:17,876 --> 01:27:22,496
Like you have to get like a $10,000, like two $10,000 Mac studios.

1513
01:27:22,656 --> 01:27:25,116
I think I saw someone who was like, I'm running Kimmy on this.

1514
01:27:25,876 --> 01:27:29,176
I see Bitcoin Revolution in the chats asking about my hat.

1515
01:27:29,716 --> 01:27:34,176
My hat is from a ride-or-die freak, Kiwi.

1516
01:27:35,136 --> 01:27:39,816
He has a new service called BitcoinButlers.com that he's working on

1517
01:27:39,816 --> 01:27:53,660
that is trying to make it easier to onboard people independently into self which I think is a very noble endeavor

1518
01:27:54,100 --> 01:27:55,160
Yeah, it's a noble mission.

1519
01:27:55,400 --> 01:27:56,920
And look, like freaks,

1520
01:27:57,000 --> 01:28:00,460
I feel like the story of the last two years

1521
01:28:00,460 --> 01:28:02,340
is that the plot has been lost a little bit.

1522
01:28:04,640 --> 01:28:08,040
Like we need as many self-custody Bitcoins as possible.

1523
01:28:08,040 --> 01:28:17,680
To the chart that I showed you earlier of Signal versus Telegram and WhatsApp, the overwhelming majority of users are not going to use Bitcoin in a freedom-oriented way.

1524
01:28:17,900 --> 01:28:20,420
But we do need that absolute number to go up.

1525
01:28:20,820 --> 01:28:33,320
We need an intolerant minority that is holding real Bitcoin, using real Bitcoin, holding it with open source tools in a sovereign way is absolutely key.

1526
01:28:33,320 --> 01:28:36,260
And Kiwi is working on that with Bitcoin butlers.

1527
01:28:36,260 --> 01:28:38,100
and I just

1528
01:28:38,100 --> 01:28:39,240
the hat's cool too

1529
01:28:39,240 --> 01:28:41,240
it is a sick hat

1530
01:28:41,240 --> 01:28:42,120
it is a sick hat

1531
01:28:42,120 --> 01:28:44,620
this has been a sick rip

1532
01:28:44,620 --> 01:28:45,120
you know

1533
01:28:45,120 --> 01:28:47,020
I'm having fun

1534
01:28:47,020 --> 01:28:48,160
I hope you guys are too

1535
01:28:48,160 --> 01:28:49,780
if we look at the hour chart

1536
01:28:49,780 --> 01:28:50,260
we're up

1537
01:28:50,260 --> 01:28:52,240
70 bips right now

1538
01:28:52,240 --> 01:28:52,800
we're pumping

1539
01:28:52,800 --> 01:28:54,460
up almost $600

1540
01:28:54,460 --> 01:28:55,540
in the last hour

1541
01:28:55,540 --> 01:28:56,880
things are looking great

1542
01:28:56,880 --> 01:28:59,440
basically rich again

1543
01:28:59,440 --> 01:29:00,520
yeah

1544
01:29:00,520 --> 01:29:02,140
I see Mark's in the chat

1545
01:29:02,140 --> 01:29:02,860
just real quick

1546
01:29:02,860 --> 01:29:04,820
with Maple

1547
01:29:04,820 --> 01:29:08,660
they have Kimmy K2 support.

1548
01:29:08,800 --> 01:29:10,560
They just don't have two and a half yet.

1549
01:29:11,300 --> 01:29:12,760
But that should be up and running soon.

1550
01:29:13,240 --> 01:29:15,140
You can go to trymaple.ai

1551
01:29:15,140 --> 01:29:18,560
I think you can use the code RHR.

1552
01:29:18,760 --> 01:29:19,860
You can use the code RHR there.

1553
01:29:20,580 --> 01:29:21,820
Yeah, and if it doesn't work,

1554
01:29:22,340 --> 01:29:23,960
just badger them until it works

1555
01:29:23,960 --> 01:29:25,020
because it should work.

1556
01:29:26,760 --> 01:29:27,200
Yeah.

1557
01:29:27,580 --> 01:29:29,140
But I use Maple all the time.

1558
01:29:29,240 --> 01:29:30,040
Maple's fantastic.

1559
01:29:31,740 --> 01:29:33,000
You can think Signal.

1560
01:29:33,000 --> 01:29:43,900
so like signal level privacy with uh in a in a typical uh chat ai environment uh it's fantastic

1561
01:29:43,900 --> 01:29:49,460
yeah i mean i bought 500 with the credits hooked it up to my cloud bot

1562
01:29:49,460 --> 01:30:03,764
and i got a bunch of sub agents running the uh different models that that maple offers right now that pretty awesome in a uh trusted execution environment it pretty sick it pretty sick yeah it basically like a secure element in the cloud

1563
01:30:05,204 --> 01:30:11,284
so neither them nor the servers can uh see what you're searching for and what you're using it for

1564
01:30:14,404 --> 01:30:16,004
yeah it's a beautiful thing as it should be

1565
01:30:17,924 --> 01:30:21,364
i gotta run i gotta call in five minutes and gotta hit the head before

1566
01:30:21,364 --> 01:30:24,384
I take that, but this has been an honor.

1567
01:30:24,544 --> 01:30:25,224
It's been a pleasure.

1568
01:30:26,484 --> 01:30:28,104
Guys, this is a long journey.

1569
01:30:28,404 --> 01:30:30,044
We've been here for eight years.

1570
01:30:31,264 --> 01:30:33,244
We're going to be here for eight more years probably.

1571
01:30:34,504 --> 01:30:37,184
We'll be at $115K in eight years.

1572
01:30:37,304 --> 01:30:39,884
We'll be talking about, hey, just stick with us, guys.

1573
01:30:39,924 --> 01:30:40,744
It's going to work out.

1574
01:30:40,844 --> 01:30:41,804
I promise, okay?

1575
01:30:42,504 --> 01:30:46,544
If that bear in the YouTube chat is correct and Bitcoin hits zero,

1576
01:30:46,844 --> 01:30:48,424
there will still be RHR that week.

1577
01:30:49,104 --> 01:30:49,444
Yes.

1578
01:30:49,444 --> 01:30:50,764
We promise you that.

1579
01:30:51,364 --> 01:30:55,984
If Bitcoin goes to zero, we will go down the ship alongside you.

1580
01:30:56,264 --> 01:30:57,304
We're going to own up to it.

1581
01:30:57,304 --> 01:31:01,464
We're going to be probably hammered that week if it ever comes.

1582
01:31:01,544 --> 01:31:02,184
Don't think it's coming.

1583
01:31:03,644 --> 01:31:11,624
My strategy if that happens is me and my family are going to build a small cabin on federal land and squat in the forest.

1584
01:31:12,044 --> 01:31:12,844
I like that.

1585
01:31:13,604 --> 01:31:14,464
Maybe we'll join you.

1586
01:31:14,644 --> 01:31:15,364
Maybe we'll join you.

1587
01:31:16,184 --> 01:31:16,604
There you go.

1588
01:31:16,604 --> 01:31:23,164
You're welcome for the mining operations that I'm involved with in Tennessee turning off this week.

1589
01:31:23,304 --> 01:31:24,924
I know it's been a rough week there.

1590
01:31:27,464 --> 01:31:28,104
Insane.

1591
01:31:29,004 --> 01:31:41,464
It's a good example, by the way, of Ness, which has a National Electric Service, which has a de facto monopoly, basically government-run operation.

1592
01:31:41,944 --> 01:31:43,624
It's just fucking horrible.

1593
01:31:44,244 --> 01:31:45,804
Just so inefficiently run.

1594
01:31:46,604 --> 01:31:50,124
We got Pico here in Pennsylvania, Pennsylvania Electric.

1595
01:31:51,024 --> 01:31:54,964
You need free markets would fix that.

1596
01:31:55,864 --> 01:31:56,184
It would.

1597
01:31:57,044 --> 01:31:57,544
All right.

1598
01:31:58,184 --> 01:31:59,044
This was fun.

1599
01:32:00,384 --> 01:32:01,704
We'll do this again next week.

1600
01:32:02,724 --> 01:32:03,704
Sounds like a plan.

1601
01:32:04,024 --> 01:32:04,504
Love you all.

1602
01:32:04,724 --> 01:32:05,624
Stay on the Stack Sets.

1603
01:32:06,424 --> 01:32:07,144
Peace and love, freaks.

1604
01:32:07,324 --> 01:32:07,504
Tiki.