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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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Use the code RHR for 25% off when you sign up any of their deals.

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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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obscura.net code rhr 25 off this rip was brought to you by our official electrolyte sponsor here

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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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you've all noticed it you want to know why salt of the earth baby go to drinksauté.com use the

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code RHR, you're going to get 15% off. I'm dead serious. It has made my life way better. My wife,

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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, you probably should be.

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You probably should be.

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Can you take me higher?

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Woo doggy.

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Vibes are high. Let's go.

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Vibes are high.

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Bitcoin price approaching $96,000 again.

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It feels so much better on the way up than on the way down.

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It really does.

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It is insane how it does have this effect on your psychology.

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Maybe we're a bit crazy and it shouldn't.

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We should have let the price do that.

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We should stay humble and stack sats, but it's inevitable.

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I think it affects everybody.

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You're either lying, you're just lying.

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If you say it doesn't, you're lying to yourself or you're lying to others.

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That's how it works.

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I mean, enjoy the good times.

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This could be a bull trap, freaks.

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We could be getting bull trapped and head back down to 60K.

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Straight to 70.

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Enjoy it while it lasts.

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Do you think it's a bull trap?

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I don't know.

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You know me.

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Never get these predictions.

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Is it officially a pump?

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Like you, the...

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Is the super cycle back on?

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Year to date, we're up 6.62%.

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Last month, we're up 9.6%.

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Not quite yet.

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Not quite yet.

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I think...

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Fuck.

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I've been right as much as I've been wrong.

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I've been directionally correct the entire time, though.

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I mean, it depends on your time.

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Bitcoin goes up.

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Yeah.

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I think the first episode, we were at $3,000 and said Bitcoin's going to go up from here.

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Well, you know, I just had Corallo on dispatch, and it reminded me that the first rip I ever

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did with you was right after you ripped with Corallo.

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and Corallo was like, Bitcoin's an experiment.

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It has like a 5% chance of succeeding.

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It's like 2018 or something.

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And I was like, fuck that pussy ass shit.

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There's no shot in hell.

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Bitcoin is going to the moon.

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We got this thing.

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I don't know.

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It just reminded me because I had him on the show.

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It was a good rate.

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Over the years, Matt's probability of Bitcoin's long-term success

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has consistently gone up.

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So it's good to see.

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But he hit me with it again on dispatch.

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She was like, yeah, if this one scenario plays out like Bitcoin said, I was like, I don't think so.

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What was the scenario?

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We were talking about quantum.

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We were gaming out quantum, different quantum scenarios.

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And yeah, he was like, if someone steals 4 million, if some quantum attacker steals 4 million Bitcoin,

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I'm paraphrasing, you should listen to the episode.

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Search still to dispatch your favorite podcast app.

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But he was like, if someone steals 4 million Bitcoin and dumps on the market, Bitcoin's dead and never recovers.

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Why would they dump? I mean, you'd have to be a nihilistic hacker.

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It was a great conversation.

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You'd be a nihilistic hacker if she did that, right? It would have to be.

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We went through all the scenarios. It was fun.

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Yeah, I don't think, I mean, if you actually want to talk about making the most money out of that kind of attack,

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like you wouldn't try and kill Bitcoin by dumping it all on the market.

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They'd be retarded.

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Yeah.

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You'd launch a treasury company to compete with MicroStrategy and be like, we're never selling this Bitcoin.

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mind the uh but i actually think it's the most like the thing that we've disagreed with the most

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is i still think quantum like cryptographically relevant quantum computer that can like break

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any of this shit is a hypothetical like i this is not like a real concern i have for this like

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next 10 years um but i do think like if you see that type of attack i one of the i think our big

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fundamental disagreements is that he thinks it's going to come from the startup ecosystem.

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And I think it would come from a major government. Like it would be like a China or US.

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Maybe you throw Israel in there, you know, maybe Russia. And it would be a, it would be like a dark

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program from one of those governments. We wouldn't know about it. And it would probably go into the

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stolen Bitcoin reserve alongside all the other stolen Bitcoin. And then people like when the

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US government steals Bitcoin. So I doubt we'd have too much down pressure on that.

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Yeah. I'm more interested when it comes to the quantum discussion, especially as we're

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talking to Jonas Nick and Mikhail Kudinov from Blockstream a few weeks ago. That conversation

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was really crystallizing in the sense of like, oh shit, you need to change multisig, PSPTs,

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lightning network, potentially. How do you even prepare and begin that transition?

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and luckily i mean they're very smart people thinking about this beginning to

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um game plan how a transition would work but that's that's like a massive logistic

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logistical nightmare is matt a fan of freezing quantum vulnerable yeah did you see what i named

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the episode i've been on the street with good names stealing satoshi satoshis it hits double

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hard because he works for block and block is trying to get rid of satoshi's as well so like

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it's there's multiple levels to the name um but yeah i mean people should listen to the episode

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but that that was me and him were arguing about it on nostril and that's what led to the podcast

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in the first place because i think that's like a complete i think that's a complete non-starter

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and so we game planned a lot of that did you see talking about my great names did you see what i

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I named this episode? I retweeted the tweet, but they'll look at it.

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Feds versus Fed. Great name. It is. We're just hitting 2026 with great podcast names.

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And let me send a get in here. Quote tweet.

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great time last night in DC

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shout out to

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the Bitcoin Policy Institute

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and

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team at PubKey

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great establishment

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they've

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established

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in DC

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Bitcoin Policy Institute

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top notch

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very proud of

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David Grant

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Connor

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Matt Pines

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Gary

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the whole crew over there

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Mills

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Mills

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great conversations with Mills last night

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other Zach

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other Zach, Zach Shapiro

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many others

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Yael

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I love when Marty does this

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you get some stuff into the hole of trying to

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name every single person

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in an organization

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you're going to start going through the pub key guys too

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jerk

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Thomas

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Dan

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I don't know if Thomas' wife's

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public name if her name is public but her as well it is somewhere but we'll keep that uh close to

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the chest great time very i mean it is one of the convenient factors moving back to the

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philadelphia area i can hop on a train go down to dc hop up to new york and sleep in my own bed

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yeah david was um david was happy that you that you joined them for the event uh he did not uh

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He was not happy with me that I sent you in my stead though.

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He was a little bit disappointed.

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You didn't send me.

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We were both invited individually.

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You could have gone.

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Whenever you go to an event that I don't go to, I say I sent you in my stead.

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It was great.

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Vibes are high.

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It's not completely wrong.

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I mean, vibes are interesting actually because the whole market structure bill sort of fell to shit like an hour before the event started.

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So it was a lot of the conversation last night was around that.

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Yeah, what's the insight on that?

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A lot of conflicting opinions on whether or not the bill is good or bad.

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Let's do Clark's dashboard, then we'll start off with that,

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just so we don't forget.

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But anyway, before we do that, just real quick, PubKey DC has launched.

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Bitcoin Policy Institute has an office there.

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Open Door Policy.

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Go visit them if you're in DC.

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I'd love to have you.

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Yes.

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I met a fan of the show.

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He told me he's going to be listening right now.

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So hello to you.

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Sorry I won't talk to you.

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Does he work for the agency?

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He works for NASA.

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We've got people in the space program.

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There you go.

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He works for A Agency.

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A Agency, yes.

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What does NASA stand for again?

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Something something agency, right?

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It is.

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Naval?

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Is it Naval?

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Let's see.

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NASA stands for national aeronautics and space administration.

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It's no agency.

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It's not an agency.

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It's an administration and there's no naval involved in it.

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They coordinate with the Navy sometimes.

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I think what does this mean?

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He's in the, he's in the YouTube chat.

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He says, I'm that fan.

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00:13:37,760 --> 00:13:39,520
Odell sucks eggs, by the way.

247
00:13:39,520 --> 00:13:41,360
What does that mean?

248
00:13:41,360 --> 00:13:44,360
What was that?

249
00:13:44,360 --> 00:13:49,160
He, the guy that you're talking about is mother Mary three, seven, nine,

250
00:13:49,200 --> 00:13:51,200
six on YouTube. Do you see him in the YouTube chat?

251
00:13:59,000 --> 00:14:02,060
Sucks eggs, by the way. I have no idea. What does that mean? Is that a,

252
00:14:02,060 --> 00:14:06,760
is that like a zoomer thing? Is that a zoomer thing? What's his age range?

253
00:14:07,800 --> 00:14:10,560
I think eggs are good for you. Eggs are a super food.

254
00:14:11,360 --> 00:14:12,460
I encourage everyone to suck.

255
00:14:12,460 --> 00:14:15,220
The oldest use of that that I know of is in SpongeBob.

256
00:14:16,220 --> 00:14:16,420
So.

257
00:14:17,620 --> 00:14:19,680
What was the reference in that?

258
00:14:20,000 --> 00:14:20,520
Was it negative?

259
00:14:21,640 --> 00:14:22,580
Yeah, it's negative.

260
00:14:23,080 --> 00:14:24,700
Squidward sucks eggs, I think.

261
00:14:25,360 --> 00:14:27,980
Well, it shouldn't be negative because eggs are a superfood.

262
00:14:28,340 --> 00:14:32,800
So maybe he's nervous in the live chat and he's trying to impress the live chat

263
00:14:32,800 --> 00:14:34,400
because he was speaking highly of you last night.

264
00:14:34,480 --> 00:14:35,000
So I don't know.

265
00:14:35,540 --> 00:14:36,860
I don't know what's going on here.

266
00:14:38,060 --> 00:14:40,420
Anyway, Freak, join the live chat on Noster.

267
00:14:40,420 --> 00:14:42,600
download Primal in your favorite app store.

268
00:14:43,600 --> 00:14:44,400
It's Bitcoin enabled.

269
00:14:44,740 --> 00:14:45,680
Where the freaks dwell.

270
00:14:46,480 --> 00:14:49,960
John Arnold, our partner.

271
00:14:50,080 --> 00:14:50,820
Resident Quant.

272
00:14:51,420 --> 00:14:53,360
That's a 1950s ass insult.

273
00:14:55,920 --> 00:14:57,160
Eat your eggs, freaks.

274
00:14:57,240 --> 00:14:57,740
Eat your eggs.

275
00:14:57,820 --> 00:14:59,840
Use code RHR, your favorite egg supplier.

276
00:15:00,500 --> 00:15:01,440
I had two this morning.

277
00:15:02,240 --> 00:15:03,380
All right, to the dashboard.

278
00:15:04,680 --> 00:15:05,200
Sorry.

279
00:15:06,040 --> 00:15:08,680
Current price is $95,850.

280
00:15:08,680 --> 00:15:11,700
Cuck bucks, one cuck bucks is going to get you 1,043 sats.

281
00:15:11,800 --> 00:15:14,620
We are approaching a $2 trillion market cap yet again,

282
00:15:15,100 --> 00:15:16,680
sitting at 1.91 trillion.

283
00:15:17,440 --> 00:15:23,220
We are still 24% below the last all-time high of 126,160.

284
00:15:24,020 --> 00:15:26,920
We're at block height, 932,415,

285
00:15:27,180 --> 00:15:31,260
which means we are 1,459.

286
00:15:31,660 --> 00:15:33,060
Oh, wait, no, that's the mempool.

287
00:15:33,280 --> 00:15:33,700
Excuse me.

288
00:15:33,700 --> 00:15:37,980
993 blocks away from the next difficulty.

289
00:15:38,720 --> 00:15:42,140
Retarget estimated to be on January 22nd, so a week from today.

290
00:15:42,240 --> 00:15:44,660
Maybe we'll get a difficulty adjustment during next week's RHR.

291
00:15:45,240 --> 00:15:46,260
Or actually, maybe we won't.

292
00:15:46,360 --> 00:15:49,440
I'm going to be in Nashville for the energy mining summit.

293
00:15:49,700 --> 00:15:50,820
We'll figure out next week's schedule.

294
00:15:51,800 --> 00:15:55,780
As of right now, estimated to be a negative 4.3% difficulty adjustment.

295
00:15:56,020 --> 00:15:59,120
Blocks have been coming in at 10 minutes and 29 seconds on average.

296
00:15:59,680 --> 00:16:02,600
As I alluded to, it looks like the mempool has grown in Clark's.

297
00:16:02,600 --> 00:16:06,920
We teeny weeny mempool, 1,606 transactions.

298
00:16:07,140 --> 00:16:10,200
If we go over to mempool.space,

299
00:16:10,600 --> 00:16:14,000
which I don't have opened on my browser right now,

300
00:16:14,940 --> 00:16:19,220
they have 27,167 transactions.

301
00:16:19,520 --> 00:16:20,140
And they're mempool.

302
00:16:21,500 --> 00:16:22,500
Very cheap right now.

303
00:16:22,640 --> 00:16:24,340
One sat per vbyte, get you the next block.

304
00:16:24,700 --> 00:16:27,440
If you're willing to wait, you can go less than that.

305
00:16:27,700 --> 00:16:28,540
Below a sat.

306
00:16:28,540 --> 00:16:30,620
Ooh, just bumped up to two sats for a vbyte.

307
00:16:31,440 --> 00:16:31,880
Activity.

308
00:16:31,880 --> 00:16:35,560
I mean, the last block was 0.37.

309
00:16:36,400 --> 00:16:36,720
Yes.

310
00:16:38,320 --> 00:16:40,200
All right, back to what we were discussing.

311
00:16:40,860 --> 00:16:42,220
One day I'll never clear again.

312
00:16:42,900 --> 00:16:50,160
There is somebody listening live that pinged me out of band on Signal and said, in case you see this, this bill was bad.

313
00:16:51,280 --> 00:16:54,060
But it was killed by TradFi, not Coinbase.

314
00:16:54,480 --> 00:16:56,540
So it was bad for literally everyone.

315
00:16:56,540 --> 00:17:05,540
So for those who are unaware, obviously the market structure bill, long been talked about, Genius Act, the stablecoin bill was passed last year.

316
00:17:05,540 --> 00:17:17,320
The order of operations, the priority for Bitcoin and quote unquote crypto related bills is Genius, market structure, distant third being the Bitcoin strategic reserve.

317
00:17:17,920 --> 00:17:20,980
Many people were hoping that market structure would have gotten passed last year.

318
00:17:21,100 --> 00:17:22,480
It did not get pushed to this year.

319
00:17:22,480 --> 00:17:28,680
and there was many people signaling that this week it was going to get passed or it was at

320
00:17:28,680 --> 00:17:35,820
least going to hit the floor and at the very last minute um it got pulled from a debate today or i

321
00:17:35,820 --> 00:17:39,160
forget what they call it they were going to hear it out on the floor today they decided not to do

322
00:17:39,160 --> 00:17:45,260
that at the last minute many people are attributing it to brian armstrong's tweet last night which

323
00:17:45,260 --> 00:17:51,620
basically said hey i'd rather have no bill than a bad bill i can't support this um but like i was

324
00:17:51,620 --> 00:17:56,760
saying there was a lot of discussion last night at the bpi uh official opening of their office

325
00:17:56,760 --> 00:18:03,940
last night uh that party and yeah so many people i talked to like there were some good aspects of

326
00:18:03,940 --> 00:18:10,380
the bill particularly for open source developers at least some of the like that was it yeah um

327
00:18:10,380 --> 00:18:17,520
there was language about self-custody but it was opaque uh lol elites wrote something about it in

328
00:18:17,520 --> 00:18:23,760
rage and i talked to somebody um who was on the hill and said like the way he described he's like

329
00:18:23,760 --> 00:18:30,800
lola is like 50 right 50 wrong based off of her like his analysis of her um summary of the bill

330
00:18:30,800 --> 00:18:36,160
but the one thing that she said that that he said that she highlighted that was actually very high

331
00:18:36,160 --> 00:18:41,920
signal that nobody else really caught on to was the fact that it would expand the patriot act and

332
00:18:41,920 --> 00:18:43,960
KYC surveillance.

333
00:18:44,740 --> 00:18:44,940
Yeah.

334
00:18:46,500 --> 00:18:49,560
And I think one of the other biggest hiccups

335
00:18:49,560 --> 00:18:52,580
and what the person who's messaging me out about

336
00:18:52,580 --> 00:18:54,800
on Signal is alluding to is that

337
00:18:54,800 --> 00:18:57,200
apparently the banking lobby stepped in

338
00:18:57,200 --> 00:19:01,560
and really were adamant about not letting stablecoin issuers

339
00:19:01,560 --> 00:19:03,940
share treasury yield with their users.

340
00:19:04,600 --> 00:19:07,520
Because it would, I mean, if you just look at the incentives

341
00:19:07,520 --> 00:19:09,200
it would completely destroy their business model

342
00:19:09,200 --> 00:19:11,720
because why would you save your money in a bank

343
00:19:11,720 --> 00:19:19,000
if you could save it in a stable coin wallet and get 3.5% to 4% in yield instead of 40 bps in a savings account.

344
00:19:19,440 --> 00:19:27,380
Yeah, I mean, it's the same issue that banks have with Caitlin Long's full reserve bank, right?

345
00:19:27,380 --> 00:19:33,360
It's like if you add a more desirable deposit option,

346
00:19:33,640 --> 00:19:39,380
then the Ponzi banking system just unravels like crazy because everyone just pulls their deposits out, right?

347
00:19:39,380 --> 00:19:40,760
yeah

348
00:19:40,760 --> 00:19:43,340
kind of crazy

349
00:19:43,340 --> 00:19:46,080
what are your thoughts on

350
00:19:46,080 --> 00:19:49,700
to your point there

351
00:19:49,700 --> 00:19:51,380
is this just going to be

352
00:19:51,380 --> 00:19:54,000
a never ending stalemate

353
00:19:54,000 --> 00:19:56,120
because if you unleash

354
00:19:56,120 --> 00:19:57,940
all this stuff on the market it's going to completely

355
00:19:57,940 --> 00:19:59,960
destroy the bank's business model unless they

356
00:19:59,960 --> 00:20:00,820
adopt it themselves

357
00:20:00,820 --> 00:20:04,300
I think the problem is there's too many

358
00:20:04,300 --> 00:20:05,280
warring incentives

359
00:20:05,280 --> 00:20:07,560
we're not aligned with Coinbase

360
00:20:07,560 --> 00:20:10,160
who's not aligned with the banks, who's not aligned with us.

361
00:20:12,080 --> 00:20:15,240
They tried to make everybody happy in a bill that they called clarity,

362
00:20:15,480 --> 00:20:17,400
which provides no clarity whatsoever,

363
00:20:19,100 --> 00:20:21,440
which just is like a sigh up in itself, right?

364
00:20:21,460 --> 00:20:22,440
Like the Patriot Act, right?

365
00:20:22,460 --> 00:20:24,600
Like the Patriot Act was the least patriotic thing ever.

366
00:20:25,380 --> 00:20:28,640
And it's like, okay, let's pass a super confusing bill and call it clarity.

367
00:20:30,880 --> 00:20:33,680
And I mean, look, on the KYC surveillance stuff,

368
00:20:34,580 --> 00:20:37,340
like that's been trending in a bad direction for a long time.

369
00:20:37,560 --> 00:20:39,980
at least for regulated entities.

370
00:20:40,400 --> 00:20:42,520
Like, I mean, it gets way worse before it gets better.

371
00:20:43,420 --> 00:20:56,418
But where we can win I think is making sure self developers are protected that there no surveillance requirements there that make sure open source developers are protected America should be and

372
00:20:56,418 --> 00:21:02,998
can be the best place for open source development to happen and Bitcoin innovation in general. I

373
00:21:02,998 --> 00:21:06,178
think it's better for the country as a whole. I think this is something that's good for all

374
00:21:06,178 --> 00:21:15,218
Americans. Yeah, I mean, I think the process is incredibly frustrating. But it was always going to

375
00:21:15,218 --> 00:21:19,918
be incredibly frustrating. Like this should not be a surprise for people. And the grind continues.

376
00:21:19,918 --> 00:21:24,418
And I'm grateful that we have, this is why we have the team at Bitcoin Policy Institute.

377
00:21:25,018 --> 00:21:31,438
Because it's the first time we've really had a well-oiled machine that is focused specifically on

378
00:21:31,438 --> 00:21:37,198
the needs of the average Bitcoiner that wants to hold self-custody Bitcoin,

379
00:21:37,858 --> 00:21:42,718
that wants to use Bitcoin as freedom money. We've never had an advocate for that in DC.

380
00:21:43,798 --> 00:21:48,138
And it's already been a sea change in terms of the amount of influence we have

381
00:21:48,138 --> 00:21:52,818
for these things. And I think I'm sure you saw that when you went to the event last night.

382
00:21:54,778 --> 00:22:00,938
Their power is growing and the narrative is starting to take hold. And so I'm quite,

383
00:22:00,938 --> 00:22:06,098
I'm quite optimistic on that front, but you know,

384
00:22:06,138 --> 00:22:09,438
this is not, it's not going to be an overnight thing.

385
00:22:09,558 --> 00:22:12,538
And the number one priority is to keep us all out of the gulags.

386
00:22:12,738 --> 00:22:15,098
And I think, well, obviously without,

387
00:22:15,238 --> 00:22:19,178
with the massive glaring exception of samurai,

388
00:22:19,878 --> 00:22:24,938
the samurai developers being pleading guilty and being jailed,

389
00:22:25,698 --> 00:22:29,218
we need to free them. But with that massive exception,

390
00:22:29,218 --> 00:22:36,218
the last two years we've made significant progress in terms of um our own government

391
00:22:36,218 --> 00:22:41,898
trying to destroy bitcoiners lives and you know strong bitcoin businesses that are based in america

392
00:22:41,898 --> 00:22:48,418
yeah i mean props or props are due to brian armstrong the enemy of my enemy is my friend

393
00:22:48,418 --> 00:22:53,898
uh in this case like i agree i'd rather have no bill than a bad bill and it's very that's the only

394
00:22:53,898 --> 00:22:58,878
part of his tweet that you agree with right the rest of the truth was pretty bad yeah you could

395
00:22:58,878 --> 00:23:09,298
one-liner um i was explaining this to somebody last night up until i think last year like march

396
00:23:09,298 --> 00:23:15,418
of last year i'd been to dc twice in my life once for a third grade field trip and once like

397
00:23:15,418 --> 00:23:23,198
visiting a high school sweetheart uh girlfriend she went to georgetown and then between then when

398
00:23:23,198 --> 00:23:27,818
I was 18 and up to last year when I was 33,

399
00:23:27,938 --> 00:23:28,418
I'd never been,

400
00:23:28,498 --> 00:23:30,558
I've been like four or five times in the last year,

401
00:23:30,998 --> 00:23:35,838
especially since I've moved rather close back being back home in Philly.

402
00:23:35,998 --> 00:23:37,258
And it's easy to get down there on train,

403
00:23:37,358 --> 00:23:42,618
but like it's the experience of going down there many times over the last 12

404
00:23:42,618 --> 00:23:44,518
months is really highlighted.

405
00:23:44,518 --> 00:23:49,158
I think we all have the sort of feeling that it's this way,

406
00:23:49,218 --> 00:23:51,318
but like you see it in person and you talk to the people involved and then

407
00:23:51,318 --> 00:23:55,698
I don't envy anybody that's involved with how the sausage is made.

408
00:23:55,958 --> 00:23:57,638
It seems like fucking hell.

409
00:24:02,538 --> 00:24:03,658
Thankless in a lot of ways.

410
00:24:04,038 --> 00:24:06,638
Like we were saying earlier, so many competing incentives.

411
00:24:07,558 --> 00:24:08,498
It makes you wonder.

412
00:24:08,938 --> 00:24:11,758
Sitting on the train on the way back last night,

413
00:24:11,858 --> 00:24:14,858
have we just gotten to a scale where it doesn't make sense

414
00:24:14,858 --> 00:24:15,958
to do things like this anymore?

415
00:24:18,398 --> 00:24:19,998
But it's hard work.

416
00:24:21,318 --> 00:24:26,258
BPI guy, Zach Shapiro, specifically from BPI and the Coin Center guys.

417
00:24:26,418 --> 00:24:35,618
I saw Peter Van Valkenberg and Niraj tweeting about it.

418
00:24:35,698 --> 00:24:36,818
They were like, come on, this was a good bill.

419
00:24:36,898 --> 00:24:37,858
We should take what we want.

420
00:24:37,978 --> 00:24:39,518
But I'd push back.

421
00:24:39,518 --> 00:24:45,978
I think the expansion of the Patriot Act and the ambiguity of whether or not self-custody was actually protected.

422
00:24:45,978 --> 00:24:54,258
and kyc aml compliance wouldn't be thrust on open source wallets was was a bit um too unsettling and

423
00:24:54,258 --> 00:24:58,998
going back to like the big banks like i think this could be a stalemate because somebody i was talking

424
00:24:58,998 --> 00:25:04,618
to last night about this it was like okay like what are the big banks just like adopted stable

425
00:25:04,618 --> 00:25:10,418
coins and started giving yield to their to their clients and actually giving them like a good

426
00:25:10,418 --> 00:25:15,038
interest rate in their savings accounts it's like it would simply it would kill community banks

427
00:25:15,038 --> 00:25:19,378
number one and then it would narrow the big banks and they don't want that at all because by taking

428
00:25:19,378 --> 00:25:26,118
the treasury yields they're able to put that in other markets and then lever it up 10x and simply

429
00:25:26,118 --> 00:25:33,958
ripping some margin off of the treasury yields and giving the rest to their their clients their

430
00:25:33,958 --> 00:25:38,978
depositors doesn't make much sense not as profitable obviously so they have to significantly narrow

431
00:25:38,978 --> 00:25:44,698
their operations which i think for the too big to fail banks it's too far gone for that

432
00:25:44,698 --> 00:25:56,898
I mean, I think an interesting takeaway, an interesting part here is, I mean, I think a lot of people were surprised how strongly Coinbase came out against it.

433
00:25:59,098 --> 00:26:04,078
Because the shit corners got like way more out of this than we did.

434
00:26:05,518 --> 00:26:11,418
Like, like, besides the KYC surveillance piece is horrible, bad for America.

435
00:26:11,418 --> 00:26:19,658
um but like also like the majority of the bill just is like crony capitalism

436
00:26:19,658 --> 00:26:25,298
based for shit corners it's like all for the shit corners yeah like even the whole concept

437
00:26:25,298 --> 00:26:30,238
of quote unquote market structure is like let us dump shit coins on retail it's like that is the

438
00:26:30,238 --> 00:26:36,838
whole the premise of the regulation we've been savvy enough to sneak in some open source developer

439
00:26:36,838 --> 00:26:42,918
protections and self custody protections but the general premise was let's legalize dumping

440
00:26:42,918 --> 00:26:48,598
shit coins on retail and he's being a little bit like he's being a little bit greedy about it um

441
00:26:48,598 --> 00:26:54,838
what to not be cool with this proposal yeah because i walk from what i understand it'd be like some

442
00:26:55,958 --> 00:27:00,198
registration process for all the tokens and like he just wants people to be able to pump dot fun

443
00:27:00,198 --> 00:27:05,158
launch meme coins and stuff like that on base it's a little bit greedy yeah

444
00:27:06,678 --> 00:27:12,518
but yeah anyway i'd rather if you want to take his one-liner like i 100

445
00:27:12,518 --> 00:27:16,598
echo the sentiment that no bill is better than bad bill 100

446
00:27:18,998 --> 00:27:23,878
yeah what is the problem of the status quo right now like obviously we want the open source

447
00:27:23,878 --> 00:27:29,958
developer protections but there's no look at that you could argue that they would actually not be as

448
00:27:29,958 --> 00:27:38,598
good as they are now i think um the argument is if you go back a year and a half ago

449
00:27:38,598 --> 00:27:46,258
things were bleak in america for people building up bitcoin and other freedom adjacent software

450
00:27:46,258 --> 00:27:55,478
and businesses and since then we haven't had really any substantive like legal changes but

451
00:27:55,478 --> 00:28:01,678
we've had a government that has basically like taking the gun away from our head, right?

452
00:28:01,718 --> 00:28:03,198
An administration taking the gun away from our head.

453
00:28:03,318 --> 00:28:09,338
Obviously, they still like freeing Ross was huge, I think, at least, you know, personally

454
00:28:09,338 --> 00:28:11,878
for Ross, it was absolutely massive.

455
00:28:11,878 --> 00:28:15,298
And then also from like a narrative point of view, I think really important.

456
00:28:17,458 --> 00:28:24,878
But we need to be very deliberate here and not take our foot off the gas and cement some

457
00:28:24,878 --> 00:28:29,558
of these perceived gains because who the hell knows what's going to happen in the next three

458
00:28:29,558 --> 00:28:34,758
years you know it'd be nice to have some of this stuff like enshrined in law and very

459
00:28:34,758 --> 00:28:40,578
clear like actual clarity not just the name of the fucking bill like actual clarity on

460
00:28:40,578 --> 00:28:46,138
where we stand on this shit would be really big for the country i think agreed and i like

461
00:28:46,138 --> 00:28:50,378
going back to my earlier comments about like just being completely dismayed at how the

462
00:28:50,378 --> 00:28:53,918
sausage is made that was one of the conversations i have is like all right like why can't we

463
00:28:53,918 --> 00:28:59,498
just get a simple two-page bill. It's like open source developers can write code and will not be

464
00:28:59,498 --> 00:29:05,078
beholden to the whims of whatever end users do with that. And individual American citizens can

465
00:29:05,078 --> 00:29:09,338
self-custody without having a KYC. And they were like, no, that's not how this works. Like,

466
00:29:09,338 --> 00:29:12,218
it all needs to be trouble. It's like, oh, it's a funny guy over here making jokes.

467
00:29:12,798 --> 00:29:16,598
Yeah. And literally, they're like, are you retarded? Like, no, it's not how it works well.

468
00:29:16,598 --> 00:29:20,098
What these omnibus bills?

469
00:29:21,698 --> 00:29:24,978
It's the way the land now, which is disconcerting.

470
00:29:27,418 --> 00:29:28,118
All right.

471
00:29:28,358 --> 00:29:32,058
Before we jump into more topics, let's read some zaps here from great.

472
00:29:32,138 --> 00:29:38,378
We are now third party lab testing glyphosate in AMPA free use code RHR.

473
00:29:38,798 --> 00:29:43,058
I've been pronouncing glyphosate wrong for my entire life.

474
00:29:43,058 --> 00:29:45,738
There's some like middle of the word spoonism.

475
00:29:45,738 --> 00:29:51,338
i've been calling it glyphosate um for for many many years

476
00:29:52,298 --> 00:29:58,298
glyphosate his comment on nostril ahead of time telling us how to pronounce it yes yes i did did

477
00:29:58,298 --> 00:30:05,338
you see my response if you expect us to pronounce the words correctly you're gonna have a bad time

478
00:30:05,338 --> 00:30:15,258
yes um i uh this is huge huge shout out to great geeky um i think uh yeah i mean

479
00:30:15,738 --> 00:30:18,898
It's really hard to find good quality food for our family.

480
00:30:19,218 --> 00:30:21,598
So I appreciate him providing.

481
00:30:23,018 --> 00:30:27,398
Speaking of providing, great products, animal-based products for our family.

482
00:30:27,498 --> 00:30:29,538
Soapminer is next up, 21,000 sats.

483
00:30:29,638 --> 00:30:32,618
Supfreak, sats are the standard and the only payment Soapminer accepts.

484
00:30:36,298 --> 00:30:37,958
Mav21 with 21,000 sats.

485
00:30:38,018 --> 00:30:38,998
Use code RHR.

486
00:30:39,978 --> 00:30:41,858
Use code RHR at soapminer.com.

487
00:30:42,538 --> 00:30:43,798
Mav21, 21,000 sats.

488
00:30:43,798 --> 00:30:47,578
And I'm going to read this one just because if you read it, it's like, okay, this is good enough.

489
00:30:47,758 --> 00:30:48,758
They put the effort in.

490
00:30:48,898 --> 00:30:50,298
George, 20,000 sats.

491
00:30:50,418 --> 00:30:51,138
Long time listening.

492
00:30:51,298 --> 00:30:53,878
First time catching the love stream on Primal.

493
00:30:54,018 --> 00:30:54,638
It's a live stream.

494
00:30:55,258 --> 00:30:56,398
Always wanted a shout out.

495
00:30:56,738 --> 00:31:00,298
I know it's not 21,000, but this is all the sats in my Primal wallet.

496
00:31:00,618 --> 00:31:01,578
So you emptied your wallet.

497
00:31:01,578 --> 00:31:02,338
How much was it?

498
00:31:02,918 --> 00:31:03,598
20,000.

499
00:31:04,338 --> 00:31:05,098
Oh, that counts.

500
00:31:05,398 --> 00:31:07,258
For some reason, that zap's not showing for me.

501
00:31:07,278 --> 00:31:08,098
I just see his text.

502
00:31:09,498 --> 00:31:11,758
And what, Mav21 didn't have a message, right?

503
00:31:12,418 --> 00:31:13,178
Doesn't look like it.

504
00:31:13,178 --> 00:31:13,618
I freaked out.

505
00:31:13,798 --> 00:31:14,818
Thank you for your support.

506
00:31:16,018 --> 00:31:16,258
Yeah.

507
00:31:18,558 --> 00:31:19,818
Thank you guys for the support.

508
00:31:20,138 --> 00:31:20,718
Moving on.

509
00:31:22,158 --> 00:31:23,878
In terms of our list.

510
00:31:25,518 --> 00:31:26,298
In Iran.

511
00:31:26,898 --> 00:31:27,998
Because I've been paying attention.

512
00:31:28,238 --> 00:31:29,778
It's been a pretty crazy week there.

513
00:31:30,378 --> 00:31:32,918
Currently the internet is still offline.

514
00:31:33,018 --> 00:31:34,498
It's been offline for five days now.

515
00:31:34,718 --> 00:31:35,658
It's fucking wild.

516
00:31:36,478 --> 00:31:36,758
Yeah.

517
00:31:37,458 --> 00:31:38,498
I mean it says it right there.

518
00:31:39,078 --> 00:31:39,978
168 hours.

519
00:31:40,398 --> 00:31:41,038
What is that?

520
00:31:43,798 --> 00:31:52,918
168 seven days seven days it's a big two days to be off by marty i know i know we're not gonna

521
00:31:52,918 --> 00:32:00,438
reimagine the internet if the internet went off for a week in america people would lose their

522
00:32:00,438 --> 00:32:05,638
i mean t-mobile went down for like six hours yesterday and people were freaking out

523
00:32:05,638 --> 00:32:10,438
yeah no but i'm saying entire internet all internet cut like the only internet they have

524
00:32:10,438 --> 00:32:12,678
in Iran is Starlink

525
00:32:12,678 --> 00:32:14,278
and the government's actively

526
00:32:14,278 --> 00:32:15,718
been jamming that as well.

527
00:32:16,578 --> 00:32:18,518
Some people have been able to get around it

528
00:32:18,518 --> 00:32:20,518
but it's not as easy

529
00:32:20,518 --> 00:32:22,338
as just throwing a dish out there and

530
00:32:22,338 --> 00:32:24,478
connecting. They've been actively

531
00:32:24,478 --> 00:32:26,638
trying to stop the Starlink signal as well.

532
00:32:27,518 --> 00:32:27,638
Yeah.

533
00:32:28,518 --> 00:32:30,578
It'd be straight chaos in the US if it was

534
00:32:30,578 --> 00:32:32,238
seven days. Agreed.

535
00:32:33,138 --> 00:32:34,478
How many people would be eating each other?

536
00:32:36,278 --> 00:32:38,378
Friend of the show. I know we both know him.

537
00:32:38,378 --> 00:32:39,078
I saw him.

538
00:32:40,438 --> 00:32:42,338
I saw him in person last year.

539
00:32:43,198 --> 00:32:46,218
He was imprisoned by the Iranian regime, escaped.

540
00:32:46,558 --> 00:32:48,878
He's no longer in the country, but I think it's very close,

541
00:32:49,158 --> 00:32:50,678
obviously very near and dear to his heart.

542
00:32:51,038 --> 00:32:56,378
Zaya, he wrote a long post on Noster about this.

543
00:32:56,438 --> 00:32:58,318
We won't read the whole thing, but I think it is.

544
00:32:58,638 --> 00:33:00,638
We'll read a few paragraphs because it's pretty enlightening.

545
00:33:01,038 --> 00:33:02,778
12,000 innocent lives are lost.

546
00:33:03,058 --> 00:33:04,998
Hashtag Iran massacre.

547
00:33:05,218 --> 00:33:07,278
Over the past two weeks, protests have started across Iran.

548
00:33:07,598 --> 00:33:10,098
Very little of what is happening is being accurately reported,

549
00:33:10,098 --> 00:33:12,798
and a significant amount of false information is circulating.

550
00:33:13,038 --> 00:33:15,858
Much of it is deliberately engineered by the Islamic Republic regime

551
00:33:15,858 --> 00:33:20,318
and the IRGC to buy time while they suppress the protest.

552
00:33:21,098 --> 00:33:23,158
It's been a week and the internet has been completely shut down

553
00:33:23,158 --> 00:33:25,178
and there's no contact with inside Iran.

554
00:33:25,718 --> 00:33:26,558
This is unprecedented.

555
00:33:26,838 --> 00:33:28,418
Mobile communication is unavailable.

556
00:33:28,558 --> 00:33:30,018
Text messages and landlines too.

557
00:33:30,138 --> 00:33:32,758
People cannot even communicate with each other inside Iran.

558
00:33:33,398 --> 00:33:35,978
Last time the regime imposed a nationwide internet blackout

559
00:33:35,978 --> 00:33:37,078
was around six years ago.

560
00:33:37,078 --> 00:33:40,678
At least 1,500 people were killed during that period.

561
00:33:41,118 --> 00:33:44,278
It's at a very grim precedent, and what is happening now is even more severe.

562
00:33:44,738 --> 00:33:46,818
I haven't heard anything from my friends and family in days.

563
00:33:46,978 --> 00:33:49,378
Even some of my friends were very tech savvy.

564
00:33:49,838 --> 00:33:51,278
I haven't heard anything from them.

565
00:33:52,258 --> 00:33:56,318
A very small number of people had smuggled Starlink terminals in before this,

566
00:33:56,418 --> 00:33:59,298
which has made it possible for a very limited number of videos to come out.

567
00:33:59,818 --> 00:34:00,878
Why aren't there more of these?

568
00:34:00,998 --> 00:34:02,218
Because it's difficult to smuggle.

569
00:34:02,518 --> 00:34:05,978
They're expensive, and they're extremely risky to own or use in Iran.

570
00:34:05,978 --> 00:34:09,918
the regime will put you away in jail for five to ten years so they find out you have one

571
00:34:09,918 --> 00:34:15,138
the reason for these blackouts is that the islamic republic regime ruling iran doesn't want any kind

572
00:34:15,138 --> 00:34:18,978
of exposure to their killings so people can't tell the world what's happening to them it's like the

573
00:34:18,978 --> 00:34:23,318
regime covers up the whole country with a very heavy blanket and then starts killing and shooting

574
00:34:23,318 --> 00:34:28,958
people under it and their crimes go unnoticed i'll read this the main reason i'm writing this

575
00:34:28,958 --> 00:34:35,338
here is that while our people are being shot we the iranian diaspora open any social media or

576
00:34:35,338 --> 00:34:40,358
platform and see tons of accounts claiming that we're telling lies about a massacre happening in

577
00:34:40,358 --> 00:34:45,758
iran to this moment there have been reports of 12 000 people being killed in only two days for

578
00:34:45,758 --> 00:34:51,078
those who cannot fathom the 12 000 number for the iran massacre i can only say that is probably much

579
00:34:51,078 --> 00:34:55,458
higher and the number will grow even more once the regime starts executing those who are detained

580
00:34:55,458 --> 00:35:01,958
regime announced that the first execution will be tomorrow check hashtag efron sultani and spread

581
00:35:01,958 --> 00:35:11,058
his name i'm gonna stop there but we'll link to this it's it's a rather lengthy post um pretty

582
00:35:11,058 --> 00:35:18,078
crazy and zaya is definitely a legitimate source on this he's long time iranian bitcoiner on the

583
00:35:18,078 --> 00:35:23,318
ground educating people in iran about bitcoin for many years over a decade i think i had him on tftc

584
00:35:23,318 --> 00:35:30,378
in like 2019 2020 yeah it's a real long long long length of proof of work there with zaya

585
00:35:30,378 --> 00:35:32,178
a very trustworthy individual

586
00:35:32,178 --> 00:35:33,378
by integrity.

587
00:35:34,238 --> 00:35:36,458
If you want to support the cause financially,

588
00:35:36,458 --> 00:35:37,638
if you zap him,

589
00:35:39,018 --> 00:35:39,498
I can

590
00:35:39,498 --> 00:35:42,578
confidently say it will go in the right direction.

591
00:35:43,578 --> 00:35:43,758
Yeah.

592
00:35:44,958 --> 00:35:45,878
It's crazy.

593
00:35:46,538 --> 00:35:48,118
And then there was rumors that

594
00:35:48,118 --> 00:35:50,418
the United States

595
00:35:50,418 --> 00:35:52,338
was going to attack back to

596
00:35:52,338 --> 00:35:54,438
late last night. It seems like that changed.

597
00:35:54,438 --> 00:35:56,518
Trump came out and said, we're not going to attack Iran.

598
00:35:56,958 --> 00:35:57,798
I wonder if that

599
00:35:57,798 --> 00:35:59,478
Verizon shit down yesterday.

600
00:35:59,478 --> 00:36:05,318
was was that was that in iran no no i doubt that no i think that was just probably just

601
00:36:05,318 --> 00:36:13,158
bad infrastructure it's not the first time it's happened um i mean a lot of our infrastructure is

602
00:36:13,158 --> 00:36:20,918
just and they have monopolies it's just it's just outdated and poorly maintained and um

603
00:36:21,558 --> 00:36:25,558
they don't have a huge incentive to make it more reliable if it goes out for six hours does anyone

604
00:36:25,558 --> 00:36:34,238
switch their cellular provider no like maybe i mean i remember i had an office in new york

605
00:36:34,238 --> 00:36:40,838
and like like our cable internet would just like go out for like three hours in midtown manhattan

606
00:36:40,838 --> 00:36:44,138
it's like they're supposed to be like the financial capital of the world and you can't

607
00:36:44,138 --> 00:36:47,098
have internet for three hours in the middle of work day because they know you're not going to

608
00:36:47,098 --> 00:36:54,518
fucking leave them um but uh no my guess is i mean look love or hate the current administration

609
00:36:54,518 --> 00:36:56,538
and I've gotten a lot of shit for this,

610
00:36:56,818 --> 00:36:57,978
for calling it as I see it.

611
00:36:59,158 --> 00:37:02,078
On the military side, they've been incredibly savvy.

612
00:37:02,978 --> 00:37:04,838
They've been incredibly savvy recently.

613
00:37:06,038 --> 00:37:10,758
And the fog of war is incredibly important.

614
00:37:11,358 --> 00:37:13,658
Your enemy not knowing when you're going to do something

615
00:37:13,658 --> 00:37:14,798
and how you're going to do it.

616
00:37:15,318 --> 00:37:21,518
And what I saw last night was them playing some games

617
00:37:21,518 --> 00:37:24,638
to make people think that they were about to do it.

618
00:37:24,878 --> 00:37:26,618
And that doesn't mean they're not going to do it tomorrow.

619
00:37:27,038 --> 00:37:30,518
I mean, he seems to like, he loves his financial markets,

620
00:37:30,518 --> 00:37:34,558
so he seems to like attacking when markets are closed on the weekends.

621
00:37:36,158 --> 00:37:42,298
But specifically, what set it all off was airspace was closed,

622
00:37:42,298 --> 00:37:44,858
but also there was a couple of big bets on polymarket.

623
00:37:45,758 --> 00:37:46,618
I saw that.

624
00:37:46,618 --> 00:37:51,358
So they're like, I'm pretty sure it's like them and the Israelis,

625
00:37:51,518 --> 00:37:55,278
They take an account that has been correct in the past about attacks.

626
00:37:56,018 --> 00:38:01,078
They throw in a $100,000 bet on them being attacked tonight.

627
00:38:01,678 --> 00:38:03,598
Watch and see what kind of true movements happen.

628
00:38:04,198 --> 00:38:05,318
Keep them on their toes.

629
00:38:06,678 --> 00:38:07,818
That's what it felt like.

630
00:38:10,438 --> 00:38:13,558
But I don't think it was related to the cell phone outage.

631
00:38:15,878 --> 00:38:17,198
I'm trying to find the tweet.

632
00:38:17,198 --> 00:38:21,318
because somebody made a big bet last night

633
00:38:21,318 --> 00:38:26,178
that we were going to attack Iran by the end of yesterday.

634
00:38:26,178 --> 00:38:27,138
And then they sold the top.

635
00:38:27,518 --> 00:38:29,618
I think they sold at like 90% or something.

636
00:38:30,418 --> 00:38:30,638
Yeah.

637
00:38:32,598 --> 00:38:33,898
So they got their money back.

638
00:38:33,958 --> 00:38:35,058
It didn't really cost them anything,

639
00:38:35,058 --> 00:38:37,878
but they got to see some responses.

640
00:38:37,878 --> 00:38:44,098
They also got to keep the enemy on their toes,

641
00:38:44,418 --> 00:38:46,258
not let them know when they're going to get hit.

642
00:38:47,198 --> 00:38:48,358
Yeah.

643
00:38:49,238 --> 00:38:49,678
All right.

644
00:38:49,718 --> 00:38:51,138
My heart goes out to everybody in Iran.

645
00:38:51,518 --> 00:38:52,958
Very shitty, obviously.

646
00:38:53,918 --> 00:38:56,558
Shitty is not near descriptive enough.

647
00:38:56,938 --> 00:38:58,798
Absolutely important situation over there.

648
00:38:59,738 --> 00:38:59,898
Yeah.

649
00:38:59,938 --> 00:39:02,238
I will unequivocally say I stand with the people of Iran.

650
00:39:03,638 --> 00:39:03,898
Yeah.

651
00:39:04,778 --> 00:39:10,458
I'm looking for this while we're talking about prediction markets.

652
00:39:10,558 --> 00:39:12,778
So before we go to the next rather gloomy.

653
00:39:13,838 --> 00:39:15,038
I mean, yeah, go on.

654
00:39:15,038 --> 00:39:17,378
a topic. Logan, pull this up

655
00:39:17,378 --> 00:39:18,378
and put it in the chat.

656
00:39:19,338 --> 00:39:21,378
Before we leave, are you going to leave Iran?

657
00:39:21,958 --> 00:39:22,618
Is that what you're doing?

658
00:39:23,858 --> 00:39:24,618
No, we can stay on Iran.

659
00:39:24,778 --> 00:39:26,418
Stay on Iran and then we'll leave.

660
00:39:27,538 --> 00:39:29,678
Add some context to prediction markets.

661
00:39:30,498 --> 00:39:31,678
On the optimistic side,

662
00:39:31,678 --> 00:39:34,098
this is why this technology is so important.

663
00:39:34,478 --> 00:39:35,978
This is why Bitcoin is so important.

664
00:39:36,118 --> 00:39:37,118
This is why Nasser is important.

665
00:39:37,238 --> 00:39:38,298
This is why BitChats is important.

666
00:39:38,638 --> 00:39:40,578
This is why even things like Starlink are important.

667
00:39:41,558 --> 00:39:42,698
When you have technology

668
00:39:42,698 --> 00:39:44,198
that empowers individuals,

669
00:39:44,198 --> 00:39:49,118
it makes it harder for corrupt governments to stomp on their people. It doesn't make it impossible.

670
00:39:50,058 --> 00:39:55,478
Bitcoin doesn't end wars. It doesn't end violence. Iran doesn't have a printing press. Their currency

671
00:39:55,478 --> 00:40:00,978
is fucking worthless. It's literally on financial markets that went to zero. It's worthless. They

672
00:40:00,978 --> 00:40:07,338
have no printing press. They can still kill people. These tools empower individuals to stand up and

673
00:40:07,338 --> 00:40:13,698
have outsized power that they wouldn't otherwise have as individuals. And as a result, it reduces

674
00:40:13,698 --> 00:40:20,178
is the effectiveness of corrupt governments. And that's the optimistic take. That's why this

675
00:40:20,178 --> 00:40:24,458
movement is so important. That's why we have to keep pushing forward. That's why this grind is

676
00:40:24,458 --> 00:40:30,838
a forever grind. But a worthwhile grind. It is a grind. We talk about it. Matt and I often joke

677
00:40:30,838 --> 00:40:36,158
before we have recorded, I'm tired, boss. But it's stories like this that remind us why we're in this

678
00:40:36,158 --> 00:40:39,018
in the first place. It's imperative. You got to grind. You got to keep pushing forward.

679
00:40:39,018 --> 00:40:40,978
couldn't have said it better.

680
00:40:41,998 --> 00:40:42,518
I'm talking about,

681
00:40:42,658 --> 00:40:44,538
obviously we were talking about prediction markets there,

682
00:40:44,618 --> 00:40:47,058
like how do you get accuracy for news?

683
00:40:47,258 --> 00:40:47,398
I don't,

684
00:40:48,638 --> 00:40:50,318
accuracy within prediction markets

685
00:40:50,318 --> 00:40:52,118
about potential future events.

686
00:40:52,218 --> 00:40:53,058
And I thought this was actually,

687
00:40:53,238 --> 00:40:54,598
I didn't share this with you yet,

688
00:40:54,938 --> 00:40:57,618
but I thought this was actually an interesting analysis

689
00:40:57,618 --> 00:41:01,598
from Zach Picorny from Galaxy Research.

690
00:41:01,598 --> 00:41:03,838
He said, I've been meaning to write this for a while

691
00:41:03,838 --> 00:41:05,878
and to report on how I think prediction markets evolve from here,

692
00:41:05,958 --> 00:41:07,298
the future of impact markets.

693
00:41:07,298 --> 00:41:11,898
impact markets address a fundamental information gap prediction markets today cannot tell you what

694
00:41:11,898 --> 00:41:16,138
massive will be worth conditional on specific events occurring this information doesn't exist

695
00:41:16,138 --> 00:41:20,578
in an explicitly discoverable form while prediction markets reveal event probabilities

696
00:41:20,578 --> 00:41:26,758
and spot market reveal prices no mechanism surfaces the market collective view the market's

697
00:41:26,758 --> 00:41:31,198
collective view on conditional asset valuations bounce specific events such as where bitcoin would

698
00:41:31,198 --> 00:41:45,956
trade if the fed were to cut 75 or 50 basis points or how nvidia shares would perform at if an AI alarmist candidate won an important election Instead of trading probabilistic odds via synthetic yes slash no tokens impact market users directly

699
00:41:45,956 --> 00:41:51,216
trade the asset itself in conditional states where they express positions like I'm willing

700
00:41:51,216 --> 00:41:58,676
to buy Bitcoin at $110,000, a 10% premium to market if and only if the Fed cuts 75 basis

701
00:41:58,676 --> 00:42:03,936
points. This fundamentally enhances what markets reveal. Rather than maintaining separate markets

702
00:42:03,936 --> 00:42:06,776
for probability of Fed cut and Bitcoin price,

703
00:42:06,876 --> 00:42:09,476
we get direct price discovery for Bitcoin price

704
00:42:09,476 --> 00:42:12,116
if the Fed cuts by 75 bps.

705
00:42:12,376 --> 00:42:15,996
This idea can be extended to any asset slash event pairing

706
00:42:15,996 --> 00:42:20,816
such as Google and GBT6 released before Gemini Series 4

707
00:42:20,816 --> 00:42:23,836
or gold, asteroid mining by 2030, and so on.

708
00:42:23,876 --> 00:42:25,516
The key distinction is there are events

709
00:42:25,516 --> 00:42:27,676
and there are the impacts those events have

710
00:42:27,676 --> 00:42:28,836
on companies and assets,

711
00:42:28,836 --> 00:42:30,696
which are two fundamentally different things.

712
00:42:30,856 --> 00:42:32,396
Prediction markets aggregate probabilities

713
00:42:32,396 --> 00:42:33,616
for whether events will occur,

714
00:42:33,936 --> 00:42:38,896
Impact markets answer the next question. What happens to this company or asset if this event occurs?

715
00:42:38,976 --> 00:42:45,476
The separation allows each market type to specialize while creating a more complete information set. This is really insightful.

716
00:42:46,416 --> 00:42:48,416
That's interesting. Yeah.

717
00:42:49,236 --> 00:42:52,016
I mean, I don't know how it'd be hard. It's it's

718
00:42:52,696 --> 00:42:57,736
significantly more complex. It sounds like it'd be much more much more. I think they're two separate markets, but it helps you get

719
00:42:57,736 --> 00:43:00,976
it creates the incentive for more accurate information.

720
00:43:00,976 --> 00:43:08,216
Yeah, you could kind of accomplish this by just parlaying to prediction markets at the same time, right?

721
00:43:08,876 --> 00:43:09,176
Yeah.

722
00:43:09,296 --> 00:43:14,016
Like you could bet on Fed rates and bet on Bitcoin price.

723
00:43:15,616 --> 00:43:21,676
And I mean, I guess have a bot run wild with it, balancing it out based on outcomes.

724
00:43:22,176 --> 00:43:22,696
Yeah.

725
00:43:22,696 --> 00:43:28,276
I thought you could even hold the actual asset too, if you wanted to in that process.

726
00:43:29,836 --> 00:43:35,716
Did you see my, um, you see my world peace prediction markets, uh,

727
00:43:35,716 --> 00:43:38,356
an astronaut that I triggered a bunch of folks on.

728
00:43:39,616 --> 00:43:40,276
Should go.

729
00:43:40,396 --> 00:43:41,176
Let me pull it up.

730
00:43:41,836 --> 00:43:42,416
What'd you do?

731
00:43:42,476 --> 00:43:43,156
What did you do?

732
00:43:43,556 --> 00:43:44,536
What are you doing out there?

733
00:43:45,016 --> 00:43:46,336
Let me see if I can get the link.

734
00:43:46,336 --> 00:43:49,756
I mean it's not

735
00:43:49,756 --> 00:43:51,896
something that the freaks would be

736
00:43:51,896 --> 00:43:52,936
unaware of

737
00:43:52,936 --> 00:43:56,036
we've talked about it a lot

738
00:43:56,036 --> 00:43:58,116
the basic premise

739
00:43:58,116 --> 00:44:00,196
let me just see if I can find it

740
00:44:00,196 --> 00:44:02,916
right here it is

741
00:44:02,916 --> 00:44:05,876
if you want peace you should bet

742
00:44:05,876 --> 00:44:08,056
yes on all the war markets corrupt leaders

743
00:44:08,056 --> 00:44:10,096
will bet no and they will be

744
00:44:10,096 --> 00:44:11,196
rich but no war

745
00:44:11,196 --> 00:44:14,136
yeah if you bet I mean because this is what

746
00:44:14,136 --> 00:44:15,376
we've been talking about right

747
00:44:15,376 --> 00:44:20,156
is that if you actually want the outcome to be the opposite, right?

748
00:44:20,156 --> 00:44:23,856
You would bet, if you didn't want Trump to bomb Iran,

749
00:44:24,256 --> 00:44:28,456
you'd bet significantly that he would bomb Iran,

750
00:44:28,696 --> 00:44:30,916
and then he would bet no, and then he would,

751
00:44:31,416 --> 00:44:33,836
then we'd have peace, but he would make money from it.

752
00:44:34,196 --> 00:44:35,816
And then you'd have to just keep doing that forever.

753
00:44:36,216 --> 00:44:37,356
But did you see my follow-up?

754
00:44:37,376 --> 00:44:42,636
My follow-up is the future of ESG and DEI is you buy these shoes

755
00:44:42,636 --> 00:44:44,716
and we'll bet yes on more markets.

756
00:44:44,716 --> 00:44:51,296
It's like, imagine you had a bunch of woke corporations and they're just like, we'll

757
00:44:51,296 --> 00:44:54,156
take a portion of our profits and we'll just bet yes on war forever.

758
00:44:55,056 --> 00:45:02,836
Just a decentralized, a distributed bribe protocol effectively to stop warfing.

759
00:45:04,596 --> 00:45:06,756
Is this a fun shower thought?

760
00:45:07,836 --> 00:45:13,816
Is this an evolution of human nature that we want?

761
00:45:13,816 --> 00:45:16,576
Like people have to constantly be thinking about, uh,

762
00:45:17,056 --> 00:45:21,256
I think it doesn't matter what you want. It's here. We're here.

763
00:45:22,416 --> 00:45:24,456
We're here. We live in, uh,

764
00:45:24,956 --> 00:45:27,516
we live in the timeline that you could be in the middle of the jungle and you

765
00:45:27,516 --> 00:45:29,656
could be betting on airstrikes and it is what it is.

766
00:45:30,916 --> 00:45:31,756
You can't like,

767
00:45:32,356 --> 00:45:35,716
you can argue all day long on moral judgment on whether or not that should be

768
00:45:35,716 --> 00:45:37,716
the case or whether or not, uh,

769
00:45:39,156 --> 00:45:43,616
it's ethically if it's, if it's ethically sound, but it exists,

770
00:45:43,616 --> 00:45:45,576
the cats out of the bag and this is the world we live in now.

771
00:45:46,576 --> 00:45:47,476
Vote yes on war.

772
00:45:47,556 --> 00:45:48,556
You heard it here first.

773
00:45:49,956 --> 00:45:50,956
Vote yes on war.

774
00:45:51,856 --> 00:45:53,736
And on that note, McCoy's

775
00:45:53,736 --> 00:45:55,716
at this 22,000 sats. Stay optimistic.

776
00:45:55,896 --> 00:45:56,556
We'll stay optimistic.

777
00:45:58,256 --> 00:45:59,916
Thank you, sir. I am optimistic.

778
00:46:00,656 --> 00:46:01,036
I am too.

779
00:46:01,036 --> 00:46:03,036
I do

780
00:46:03,036 --> 00:46:06,256
like the Tom

781
00:46:06,256 --> 00:46:08,216
Shoes model, but they bet on war.

782
00:46:08,436 --> 00:46:09,776
I just think that yes on war.

783
00:46:09,776 --> 00:46:17,456
what a word um all right back to internet outages we talked about this last week um obviously

784
00:46:17,456 --> 00:46:23,796
hopefully enough ugandan citizens download a bit chat and are able to communicate but the internet

785
00:46:23,796 --> 00:46:30,436
was officially shut off um two days ago i mean the government even came out like on monday like

786
00:46:30,436 --> 00:46:35,176
we're shutting the internet yeah we're 100 and they're like we're shutting off bit chat too so

787
00:46:35,176 --> 00:46:35,616
Fuck you.

788
00:46:36,236 --> 00:46:36,536
Yeah.

789
00:46:37,056 --> 00:46:38,116
So it's still down.

790
00:46:38,636 --> 00:46:40,376
Netblox is showing 20%.

791
00:46:40,376 --> 00:46:42,696
I love Netblox, by the way.

792
00:46:42,896 --> 00:46:44,396
What a great nonprofit.

793
00:46:45,676 --> 00:46:47,156
I was going to say, they don't make money, right?

794
00:46:47,156 --> 00:46:47,636
No.

795
00:46:49,576 --> 00:46:51,056
The internet's observatory.

796
00:46:51,476 --> 00:46:54,076
I think HRF has given them a Bitcoin grant, T1.

797
00:46:55,796 --> 00:46:58,416
More on HRF Bitcoin grants later in this episode.

798
00:46:58,576 --> 00:46:58,796
But yeah.

799
00:46:59,456 --> 00:47:00,496
I mean, the election's happening.

800
00:47:00,876 --> 00:47:02,096
I mean, what time is it?

801
00:47:02,396 --> 00:47:04,176
It's probably over at this point.

802
00:47:05,176 --> 00:47:07,656
let's see here

803
00:47:07,656 --> 00:47:08,956
time in Uganda

804
00:47:08,956 --> 00:47:10,956
10 26 p.m.

805
00:47:11,076 --> 00:47:11,416
yeah

806
00:47:11,416 --> 00:47:11,916
yeah

807
00:47:11,916 --> 00:47:13,536
so

808
00:47:13,536 --> 00:47:15,356
who knows

809
00:47:15,356 --> 00:47:15,916
when we'll hear

810
00:47:15,916 --> 00:47:16,616
I imagine

811
00:47:16,616 --> 00:47:17,816
if I recall

812
00:47:17,816 --> 00:47:18,616
from my research

813
00:47:18,616 --> 00:47:19,576
I did last week

814
00:47:19,576 --> 00:47:21,656
during the 2021 elections

815
00:47:21,656 --> 00:47:22,296
they shut it down

816
00:47:22,296 --> 00:47:23,116
for five days

817
00:47:23,116 --> 00:47:24,076
like a day before

818
00:47:24,076 --> 00:47:24,676
oh shit

819
00:47:24,676 --> 00:47:26,056
so

820
00:47:26,056 --> 00:47:27,176
internet could be

821
00:47:27,176 --> 00:47:27,836
out down there

822
00:47:27,836 --> 00:47:30,176
for the next few days

823
00:47:30,176 --> 00:47:31,596
we'll see

824
00:47:31,596 --> 00:47:32,116
it'll be interesting

825
00:47:32,116 --> 00:47:32,736
to see if it had

826
00:47:32,736 --> 00:47:33,736
any impact at all

827
00:47:33,736 --> 00:47:34,276
or how people

828
00:47:34,276 --> 00:47:34,996
were using it

829
00:47:34,996 --> 00:47:41,796
i haven't heard any reports out of uganda today i saw dorsey i mean it's kind of good time i mean

830
00:47:43,076 --> 00:47:47,876
i'm sure he accelerated his timing but they finally passed a third party audit on the

831
00:47:47,876 --> 00:47:55,476
security of bitchat um and then i think i have something else in here um oh yeah there's uh

832
00:47:56,516 --> 00:48:00,356
they've been making just massive progress on it there's a mesh tastic bitchat bridge

833
00:48:00,356 --> 00:48:08,996
that allows those Mestastic LoRa devices, the small, low-powered devices,

834
00:48:09,796 --> 00:48:15,816
to forward along BitChat messages, which is awesome.

835
00:48:15,936 --> 00:48:19,396
You want to see that those network effects compound rather than fight each other,

836
00:48:19,536 --> 00:48:21,456
rather than have like two different mesh standards.

837
00:48:22,056 --> 00:48:27,156
And then separately, Kali's been working on, at least on the Android side,

838
00:48:27,156 --> 00:48:29,076
using Wi-Fi to expand the range,

839
00:48:29,756 --> 00:48:30,916
which I think is incredibly important.

840
00:48:31,916 --> 00:48:33,576
And we spoke about it last week,

841
00:48:33,696 --> 00:48:36,516
but iPhones still get to take advantage of that too

842
00:48:36,516 --> 00:48:39,296
because if they're in a mesh with Android devices,

843
00:48:39,436 --> 00:48:41,436
the Android devices will extend the range for them.

844
00:48:43,476 --> 00:48:44,636
So slow and steady,

845
00:48:44,736 --> 00:48:47,276
but it's cool to see the progress made over there.

846
00:48:48,096 --> 00:48:48,256
Yeah.

847
00:48:48,536 --> 00:48:53,936
I imagine the focus over indexing on Android development

848
00:48:53,936 --> 00:48:56,936
makes sense for, I imagine Android is...

849
00:48:57,156 --> 00:48:59,196
way more adopted in Uganda than iPhone.

850
00:49:00,576 --> 00:49:01,396
Oh, 100%.

851
00:49:01,396 --> 00:49:02,736
Worldwide it is.

852
00:49:05,336 --> 00:49:08,576
But I don't think it's even them focusing on one or the other.

853
00:49:08,836 --> 00:49:12,816
Like Dorsey focuses on iOS and Kali focuses on Android.

854
00:49:13,736 --> 00:49:17,716
And they'll just take advantage of whatever they can take advantage of

855
00:49:17,716 --> 00:49:20,956
in terms of capabilities for each platform.

856
00:49:22,616 --> 00:49:24,956
I think no matter how you cut it, though,

857
00:49:24,956 --> 00:49:27,876
if you want to make a significant impact on the world,

858
00:49:27,956 --> 00:49:29,076
there's got to be cross-platform.

859
00:49:29,256 --> 00:49:30,436
You can't pick one or the other.

860
00:49:31,656 --> 00:49:31,776
Yeah.

861
00:49:36,176 --> 00:49:38,336
Again, heart goes out to the people of Uganda.

862
00:49:39,196 --> 00:49:41,976
Again, it will be very fascinating to see

863
00:49:41,976 --> 00:49:43,796
if BitChat did have any effect on,

864
00:49:44,156 --> 00:49:46,156
at least what's happening on the ground today there,

865
00:49:47,016 --> 00:49:49,976
and even more so if it actually had an effect

866
00:49:49,976 --> 00:49:53,196
on actually recording boats having data.

867
00:49:53,196 --> 00:49:56,316
Have there been any tweets from Bobby?

868
00:49:57,616 --> 00:49:58,536
Bobby Howard.

869
00:50:02,396 --> 00:50:03,356
All caps.

870
00:50:05,436 --> 00:50:08,056
Uganda is still in the dark with the internet shut down.

871
00:50:08,176 --> 00:50:10,296
Several incidents of ballot stuffing have been recorded.

872
00:50:10,436 --> 00:50:14,356
The regime, military, and police is directly involved in repressing our agents at polling stations.

873
00:50:14,696 --> 00:50:18,576
On top of abductions, the regime forces are targeting our leaders across the country.

874
00:50:19,516 --> 00:50:20,896
Hashtag free Uganda now.

875
00:50:21,036 --> 00:50:22,156
That was four hours ago.

876
00:50:23,196 --> 00:50:37,196
we'll update you freaks on that next week

877
00:50:37,196 --> 00:50:40,756
on to more comical things

878
00:50:40,756 --> 00:50:43,436
many of you may be aware already

879
00:50:43,436 --> 00:50:46,156
on Sunday night Jerome Powell came out with a Roger Burr-esque

880
00:50:46,156 --> 00:50:47,636
this is wild

881
00:50:47,636 --> 00:50:50,236
yeah I also thought of Roger

882
00:50:50,236 --> 00:50:51,416
gun to his head

883
00:50:51,416 --> 00:50:52,976
let's play the whole thing

884
00:50:52,976 --> 00:50:53,956
Let's just play it two minutes.

885
00:50:56,176 --> 00:50:57,056
Good evening.

886
00:50:58,396 --> 00:51:03,216
On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas,

887
00:51:03,796 --> 00:51:08,976
threatening a criminal indictment related to my testimony before the Senate Banking Committee last June.

888
00:51:10,416 --> 00:51:17,136
That testimony concerned, in part, a multi-year project to renovate historic Federal Reserve office buildings.

889
00:51:17,136 --> 00:51:23,236
I have deep respect for the rule of law and for accountability in our democracy.

890
00:51:24,056 --> 00:51:27,756
No one, certainly not the chair of the Federal Reserve, is above the law.

891
00:51:28,416 --> 00:51:35,036
But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure.

892
00:51:35,696 --> 00:51:41,916
This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings.

893
00:51:41,916 --> 00:51:45,296
It is not about Congress' oversight role.

894
00:51:45,296 --> 00:51:49,676
The Fed, through testimony and other public disclosures, made every effort to keep Congress

895
00:51:49,676 --> 00:51:53,156
informed about the renovation project.

896
00:51:53,156 --> 00:51:55,676
Those are pretexts.

897
00:51:55,676 --> 00:52:00,696
The threat of criminal charges is a consequence of the Federal Reserve setting interest rates

898
00:52:00,696 --> 00:52:05,296
based on our best assessment of what will serve the public, rather than following the

899
00:52:05,296 --> 00:52:08,196
preferences of the President.

900
00:52:08,196 --> 00:52:11,756
This is about whether the Fed will be able to continue to set interest rates based on

901
00:52:11,756 --> 00:52:16,836
evidence and economic conditions, or whether instead monetary policy will be directed by

902
00:52:16,836 --> 00:52:20,496
political pressure or intimidation.

903
00:52:20,496 --> 00:52:25,276
I have served at the Federal Reserve under four administrations, Republicans and Democrats

904
00:52:25,276 --> 00:52:26,676
alike.

905
00:52:26,676 --> 00:52:32,276
In every case, I have carried out my duties without political fear or favor, focused solely

906
00:52:32,276 --> 00:52:37,376
on our mandate of price stability and maximum employment.

907
00:52:37,376 --> 00:52:43,596
service sometimes requires standing firm in the face of threats. I will continue to do the job

908
00:52:43,596 --> 00:52:50,416
the SAD confirmed me to do with integrity and a commitment to serving the American people. Thank

909
00:52:50,416 --> 00:52:59,236
you. I mean, the last part of that was complete bullshit. Like he famously cut interest rates

910
00:52:59,236 --> 00:53:06,956
right before one of the elections to favor a political party. Complete clown world. This is

911
00:53:06,956 --> 00:53:10,736
why you need to get central planners out of control of your money and I was

912
00:53:10,736 --> 00:53:15,776
talking about this on the last trade podcast yesterday it's clown world on

913
00:53:15,776 --> 00:53:21,236
both sides right like yes we obviously don't like the Federal Reserve don't

914
00:53:21,236 --> 00:53:25,136
think it should exist we are big advocates of end the Fed you should not

915
00:53:25,136 --> 00:53:33,416
have a centralized entity controlling the price of money supply manipulation

916
00:53:33,416 --> 00:53:37,996
The dual mandate, half of the mandate is completely oxymoronic.

917
00:53:38,416 --> 00:53:45,056
They try to issue price stability via targeting 2% price inflation, year-on-year price inflation.

918
00:53:46,356 --> 00:53:55,556
But the other side, too, it's like the Treasury is trying to take over central control of the money supply of the Trump administration via the Treasury.

919
00:53:55,976 --> 00:53:58,336
And it's not going to end any better.

920
00:53:58,336 --> 00:54:09,916
Maybe temporarily if the Trump administration wants to make sure they have full control over monetary policies so they can enact their economic policies and may have some short-term benefits.

921
00:54:10,116 --> 00:54:22,176
But the problem with central control money is that if you can control the levers, you will inevitably pull the lever to do morally dubious things.

922
00:54:22,176 --> 00:54:22,576
Yes.

923
00:54:22,576 --> 00:54:30,396
yeah i mean um i'd like i think it's probably best case scenario for us that they're fighting

924
00:54:30,396 --> 00:54:38,756
with each other like when they're aligned is when the most damage is done yeah um or if one side has

925
00:54:38,756 --> 00:54:43,956
all the power or if they're aligned which is basically the same thing is when it's the worst

926
00:54:43,956 --> 00:54:49,116
case scenario um but what was also crazy about this was first of all that's a straight up hostage

927
00:54:49,116 --> 00:54:54,716
video absolutely wild uh and just like posted out on the internet right like came from the federal

928
00:54:54,716 --> 00:55:01,356
reserves uh late on sunday night yeah i went to i went to the eagles game on sunday once the eagles

929
00:55:01,356 --> 00:55:07,756
get terrible loss was at the game and then like ended up uh stopped at a bar let traffic go had

930
00:55:07,756 --> 00:55:15,276
a drink before um taking an uber home and it was like it had to be like 8 30 and it came across it

931
00:55:15,276 --> 00:55:16,476
It was like 8.30 on a Sunday.

932
00:55:16,836 --> 00:55:18,136
Well, that was the cool part.

933
00:55:18,816 --> 00:55:22,376
The cool part was Bitcoin just immediately started pumping on the news.

934
00:55:23,436 --> 00:55:24,796
They're like, ah, they're fighting.

935
00:55:25,536 --> 00:55:26,516
Let's rip this shit.

936
00:55:26,696 --> 00:55:30,316
And that's how I knew about it was because the block clock just started running.

937
00:55:31,556 --> 00:55:32,796
I was like, what's going on?

938
00:55:34,236 --> 00:55:37,156
Let me go check to see what's going on out there in the wider world.

939
00:55:38,336 --> 00:55:38,496
Yeah.

940
00:55:38,736 --> 00:55:40,796
Bitcoin almost immediately responded to it.

941
00:55:40,796 --> 00:55:45,876
Yeah, at 5.30 p.m., Bitcoin was at $90,398.

942
00:55:46,376 --> 00:55:51,456
And by 10 p.m., it was at $92,260.

943
00:55:51,996 --> 00:55:52,856
Pretty crazy.

944
00:55:53,656 --> 00:55:54,696
Two and a half grand almost.

945
00:55:57,076 --> 00:55:59,756
Yeah, it's such a clown world.

946
00:56:00,636 --> 00:56:01,056
It's only salary.

947
00:56:01,156 --> 00:56:01,736
So you have that.

948
00:56:02,396 --> 00:56:03,476
Obviously, we mentioned Iran.

949
00:56:03,576 --> 00:56:05,696
The real completely collapsed earlier this week.

950
00:56:06,236 --> 00:56:06,996
It hit zero.

951
00:56:07,796 --> 00:56:08,016
Yeah.

952
00:56:08,016 --> 00:56:10,396
not many people are paying attention but Japanese

953
00:56:10,396 --> 00:56:12,436
yield curve is blowing out like they're going to need to

954
00:56:12,436 --> 00:56:14,396
issue JGBs

955
00:56:14,396 --> 00:56:16,296
and have the BOJ buy them so you're going to have to put

956
00:56:16,296 --> 00:56:17,276
a ton more money

957
00:56:17,276 --> 00:56:19,196
Trump's going to buy Greenland

958
00:56:19,196 --> 00:56:21,756
Trump's going to happen

959
00:56:21,756 --> 00:56:24,056
you heard it here first I'm convinced it's happening

960
00:56:24,056 --> 00:56:25,896
I mean they were talking about it this week

961
00:56:25,896 --> 00:56:27,256
they all met

962
00:56:27,256 --> 00:56:30,476
if you don't want it to happen bed yes on Polymarket

963
00:56:30,476 --> 00:56:33,856
I'm betting no I would like Greenland

964
00:56:33,856 --> 00:56:36,076
I think that's a nice piece of land

965
00:56:36,076 --> 00:56:37,836
you want Greenland? I want Greenland

966
00:56:37,836 --> 00:56:44,456
seems like the people i mean i mean i think it strategically would be a good deal for the

967
00:56:44,456 --> 00:56:51,096
united states of america yeah very uh very strategic i mean do you see the numbers it

968
00:56:51,096 --> 00:56:56,496
was like if we give there's only 57 000 not we i mean i'm not involved in the decision

969
00:56:56,496 --> 00:57:02,576
there's only 57 000 people in greenland if the u.s government gives them a million dollars a pop

970
00:57:02,576 --> 00:57:10,056
uh that's 50 billion dollars and we've done 4x to ukraine like 50 billion dollars is nothing

971
00:57:10,056 --> 00:57:18,376
in the u.s printing press it was one day go down if if the u.s government bought greenland for 50

972
00:57:18,376 --> 00:57:23,896
billion dollars it would go down like uh louisiana purchase alaska like it'd be like the most

973
00:57:23,896 --> 00:57:31,096
obviously great deal ever in 50 years like no one would even think twice no one ever you never hear

974
00:57:31,096 --> 00:57:36,376
anyone's like oh we got a horrible fucking deal on louisiana purchase it's like not up for debate

975
00:57:36,376 --> 00:57:42,656
probably the best deal in human history um we take greenland and then i want alberta too

976
00:57:42,656 --> 00:57:48,556
i want to i want to i want to annex alberta the rest of canada can uh the difference is the

977
00:57:48,556 --> 00:57:54,556
albertans actually want to be a part of america uh the greenlanders don't really no i think there

978
00:57:54,556 --> 00:58:00,876
is a contingency of greenlanders who are like hey come and come and get us come and save us

979
00:58:03,276 --> 00:58:10,636
alberta's good people the rest of canada's kind of heavy weight yeah it makes sense to pick up

980
00:58:10,636 --> 00:58:15,036
manitoba too though because it has uh are you just like do you have a map up and you're just

981
00:58:15,036 --> 00:58:19,516
yeah that's what trump's doing right now you realize that you have access to it's just got

982
00:58:19,516 --> 00:58:22,876
like he's got a map print out he's just like putting pins on the map

983
00:58:24,556 --> 00:58:27,736
You get Manitoba, maybe you throw on Saskatchewan.

984
00:58:27,836 --> 00:58:30,536
Okay, maybe we just take three Canadian provinces.

985
00:58:30,716 --> 00:58:35,476
We get the oil, you can pipe it across Saskatchewan, Manitoba,

986
00:58:35,616 --> 00:58:38,056
get it to the Hudson Bay, Greenland, you're safe,

987
00:58:38,116 --> 00:58:42,196
and then we can sell our oil to Ireland and save that country.

988
00:58:46,576 --> 00:58:47,476
What a timeline.

989
00:58:48,296 --> 00:58:50,776
Anyway, I do think he's going to get Greenland,

990
00:58:50,776 --> 00:58:53,136
regardless of how you

991
00:58:53,136 --> 00:58:55,696
feel about that

992
00:58:55,696 --> 00:58:56,856
if you support it or not

993
00:58:56,856 --> 00:58:59,836
look at us just turning into

994
00:58:59,836 --> 00:59:01,636
a game of risk people like alright

995
00:59:01,636 --> 00:59:02,236
we're just gonna

996
00:59:02,236 --> 00:59:05,916
well that's the funny thing is it's like literally

997
00:59:05,916 --> 00:59:07,796
if you look at a risk board

998
00:59:07,796 --> 00:59:11,736
like Venezuela too

999
00:59:11,736 --> 00:59:13,576
it's like Venezuela and Greenland is how you secure

1000
00:59:13,576 --> 00:59:14,696
North America and risk

1001
00:59:14,696 --> 00:59:16,196
yeah

1002
00:59:16,196 --> 00:59:19,736
very strategic land

1003
00:59:19,736 --> 00:59:26,376
very strategic land greenland is uh next unless we have bpi launches office in dc obviously we

1004
00:59:26,376 --> 00:59:35,256
already talked about that go check it out pub key great uh great establishment down there very very

1005
00:59:35,256 --> 00:59:40,776
aesthetically pleasing high vibes great beers they have cold mugs very good very nice cold mugs i'm a

1006
00:59:40,776 --> 00:59:50,696
big cold mug fan uh the snaps the pills are there a cold mug does really it hits do you ever try and

1007
00:59:50,696 --> 00:59:56,616
do it at home like you just put in the freezer yeah but the replenishing is it's a hard it's a

1008
00:59:56,616 --> 01:00:04,936
hard task to keep it replenished you got to be on top of it um moving on andreas antonopoulos was

1009
01:00:04,936 --> 01:00:12,696
awarded the second annual finney freedom prize i thought this was well deserved yeah good choice

1010
01:00:13,256 --> 01:00:21,096
so this is um hrf's finney prize um which is a cool concept it's uh they've already put the bitcoin

1011
01:00:21,096 --> 01:00:27,336
away and then they have a committee that decides a volunteer committee that decides who wins for

1012
01:00:27,336 --> 01:00:34,696
each era of bitcoin right so each having cycle of bitcoin um obviously they just started last year

1013
01:00:34,696 --> 01:00:40,996
year so they have to do the old ones that have already happened and the committee process is cool

1014
01:00:40,996 --> 01:00:45,876
because once the committees vote on someone then the committees each select who's going to replace

1015
01:00:45,876 --> 01:00:50,596
each each person on the committee selects who's going to replace them so they've like set this up

1016
01:00:50,596 --> 01:00:57,756
as like a you know a hundred year prize that is self-funded that is already funded with bitcoin

1017
01:00:58,636 --> 01:01:06,236
um so this is for 2016 to 2020 and so it's like who was the you know the most influential force

1018
01:01:06,236 --> 01:01:12,556
for good in bitcoin between 2016 and 2020. you know and i think andreas has kind of lost the

1019
01:01:12,556 --> 01:01:20,396
plot in a lot of ways but i will say that i wouldn't be here today um at least in the way

1020
01:01:20,396 --> 01:01:27,036
i am here today uh if it wasn't for andreas like my early bitcoin journey which predates the 2016

1021
01:01:27,036 --> 01:01:37,036
to 2020 era but um my early bitcoin journey was just like watching watching andreas videos and

1022
01:01:37,036 --> 01:01:43,676
then smash buying it's the same i'm pretty great i'm pretty grateful for him in that regard i'm too

1023
01:01:43,676 --> 01:01:50,316
i mean his rogan apps were epic i mean back like 2012 2013. like the last corner we've had on rogan

1024
01:01:50,316 --> 01:01:57,436
basically yeah if you don't yeah i think i think the one yeah i think it was like 2013 2014 bitcoin

1025
01:01:57,436 --> 01:02:03,036
was in like hundreds of dollars range he had joe spin up a wallet and just like hold the qr code to

1026
01:02:03,036 --> 01:02:06,556
the screen i think he got something like 600 bitcoin or something like that um well like

1027
01:02:06,556 --> 01:02:14,556
people sending it to the stream yeah no very well deserved i mean i learned a lot mastering bitcoin

1028
01:02:14,556 --> 01:02:20,936
Bitcoin was critical to my understanding of Bitcoin the protocol.

1029
01:02:20,936 --> 01:02:39,714
It still open source on GitHub if you want to learn about Bitcoin protocol Obviously yeah The way in which he articulated the profundity of bitcoin was just incredibly engaging if he doing it today i sure it still is today um yeah don agree

1030
01:02:39,714 --> 01:02:45,554
with everything all of his political views he lost his way he also lost his way on coins

1031
01:02:45,554 --> 01:02:48,834
i mean he wrote mastering ethereum too yeah that's true but

1032
01:02:48,834 --> 01:02:59,534
we talked about the mustache dick well deserved bitcoin bridge um let's read shout outs

1033
01:02:59,534 --> 01:03:11,334
yeah reach out on uh prime on noster we um had a really big fucking zap on the video

1034
01:03:11,334 --> 01:03:29,034
it was uh let's see huge shout out 101 101 101 101 101 sats from pgs design thank you sir

1035
01:03:29,034 --> 01:03:36,134
huge mega zap he said co2 number go up bets are fun you guys crush it he got one of those aronet

1036
01:03:36,134 --> 01:03:39,234
CO2 detectors that are recommended.

1037
01:03:39,394 --> 01:03:42,214
That's Aaron at A-R-A-N-E-T.com.

1038
01:03:42,414 --> 01:03:44,454
I've applied for an RHR discount code,

1039
01:03:44,534 --> 01:03:45,694
but we have not been approved yet.

1040
01:03:46,354 --> 01:03:48,074
But use it anyway so they know.

1041
01:03:49,514 --> 01:03:52,694
But I actually brought one of those monitors with me.

1042
01:03:52,694 --> 01:03:55,034
I was at last week, if you remember,

1043
01:03:55,234 --> 01:03:58,454
I was streaming from Costa Rica.

1044
01:03:58,674 --> 01:03:59,894
I was on an off-the-record retreat

1045
01:03:59,894 --> 01:04:02,574
with a bunch of great Bitcoiners.

1046
01:04:03,234 --> 01:04:05,134
And I brought it with me.

1047
01:04:05,134 --> 01:04:08,734
the airplanes are always horrible because you can't open windows on airplanes like they have

1048
01:04:08,734 --> 01:04:16,654
to fix that once again a monopoly they uh have no reason to improve the current situation you want

1049
01:04:16,654 --> 01:04:22,334
you want them to allow people to open the windows no they just have to improve the airflow like it

1050
01:04:22,334 --> 01:04:31,614
gets so bad in there like you literally so at at 2000 at 2000 you lose like 15 of your brain power

1051
01:04:31,614 --> 01:04:36,974
like people are literally retarded that that's why like when you're when you're like sitting on the

1052
01:04:36,974 --> 01:04:41,694
tarmac you know how like tempers start rising and people get agitated and kids are crying and shit

1053
01:04:41,694 --> 01:04:46,094
it's because they can't breathe it's because it's all co2 they're just breathing in other people's

1054
01:04:46,094 --> 01:04:53,114
co2 like that's why like there's a medical reason for it but i was at one of the events we had

1055
01:04:53,114 --> 01:05:00,754
and it was in costa rica and the doors were closed and the ac was on we hit 4 000 which is like

1056
01:05:00,754 --> 01:05:06,794
2x OSHA limits. Like we were clinically retarded at that point. That's like a 35, 40% brain

1057
01:05:06,794 --> 01:05:12,114
reduction. Did you let the organizers know that they were? Yeah, we opened the windows. I was

1058
01:05:12,114 --> 01:05:15,694
kind of curious how high we would get, to be honest. Like I'd never seen it that high before

1059
01:05:15,694 --> 01:05:21,694
in terms of number go up, but we did for the rest of the session, all the doors were open. It was

1060
01:05:21,694 --> 01:05:29,614
hot, but it's fine. But it's crazy. Like I was talking to good friend and sponsor the pod,

1061
01:05:29,614 --> 01:05:35,634
Politoi with Stackwork. And he was the one who got me into it in the first place. And it's like

1062
01:05:35,634 --> 01:05:39,854
a crazy rabbit hole when you start to think about it because people are obsessed with like purified

1063
01:05:39,854 --> 01:05:43,614
air, right? But this is different. This is an air purifier doesn't fix this for you. You need fresh

1064
01:05:43,614 --> 01:05:49,254
air. Fresh air is what fixes this for you. Opening a window, having better airflow, being outside.

1065
01:05:49,254 --> 01:05:56,054
And the crazy rabbit hole is the amount of important decisions that happen in humanity

1066
01:05:56,054 --> 01:05:58,714
that happen with very high CO2 levels.

1067
01:05:59,054 --> 01:06:02,494
Just imagine a bunch of the Illuminati in a board meeting

1068
01:06:02,494 --> 01:06:06,074
with no oxygen, no war room,

1069
01:06:06,514 --> 01:06:11,194
and they've got 30% mental capacity reduction

1070
01:06:11,194 --> 01:06:13,094
because they're just breathing in everyone's CO2.

1071
01:06:13,174 --> 01:06:14,314
It happens all the fucking time.

1072
01:06:14,974 --> 01:06:17,554
So fade boardrooms, make important decisions outside.

1073
01:06:18,534 --> 01:06:20,814
That's the takeaway.

1074
01:06:20,814 --> 01:06:25,514
I saw Dorsey tweeting out a Nietzsche quote.

1075
01:06:26,054 --> 01:06:32,534
about uh never make a decision from behind a desk always do it outside there you go yeah it's

1076
01:06:32,534 --> 01:06:37,814
because it was nietzsche was pre-co2 detector so he didn't know why now he can measure these things

1077
01:06:41,174 --> 01:06:49,654
uh got another uh out of band update not update but just to be on the market structure stuff

1078
01:06:50,294 --> 01:06:54,774
what to be looking out for moving forward most likely attack vectors coinbase gets the concessions

1079
01:06:54,774 --> 01:06:56,494
on stablecoin yield they're looking for.

1080
01:06:56,994 --> 01:06:59,094
And TradFi lets them into the Wall Street cartel

1081
01:06:59,094 --> 01:07:01,894
in order to lock in an onerous regulatory regime

1082
01:07:01,894 --> 01:07:04,794
that prevents any further competitors from entering the market,

1083
01:07:05,174 --> 01:07:07,114
all while retail gets the receiving end

1084
01:07:07,114 --> 01:07:10,114
of a Coinbase-blessed digital surveillance panopticon.

1085
01:07:10,694 --> 01:07:13,194
So in line with what we were saying earlier,

1086
01:07:13,314 --> 01:07:15,614
but reinforced by somebody in the know.

1087
01:07:15,614 --> 01:07:19,914
So make sure we stay vigilant on that.

1088
01:07:22,694 --> 01:07:24,174
It's also tiresome, Marty.

1089
01:07:24,774 --> 01:07:25,354
It really is.

1090
01:07:25,414 --> 01:07:25,914
To the boost.

1091
01:07:26,534 --> 01:07:27,754
Rabbitoh recap, 391.

1092
01:07:27,834 --> 01:07:28,694
Ledger leaks again.

1093
01:07:29,794 --> 01:07:30,534
Top boost.

1094
01:07:30,654 --> 01:07:32,114
Evan, 50,000 sats.

1095
01:07:32,214 --> 01:07:33,034
Nebraska freaks.

1096
01:07:33,114 --> 01:07:39,234
The Nebraska Bitcoin Association is educating our legislator about the need to protect self-custody and developers' rights.

1097
01:07:39,234 --> 01:07:41,294
Very apropos for what we were just discussing.

1098
01:07:41,834 --> 01:07:48,214
We're introducing a draft amendment to LB 717 that would close these gaps in the Nebraska Financial Innovation Act.

1099
01:07:48,734 --> 01:07:53,874
It adapts the latest Senate language for BRCA and Keep Your Coins Act.

1100
01:07:53,874 --> 01:07:59,314
The committee hearing for LB 717 is Tuesday, January 20th at 1.30 p.m.

1101
01:07:59,514 --> 01:08:01,674
Local time, Nebraska, I imagine.

1102
01:08:02,334 --> 01:08:02,974
Call to action.

1103
01:08:03,074 --> 01:08:06,594
Please consider commenting online or joining us at the hearing for more info.

1104
01:08:06,794 --> 01:08:12,974
Find us on Noster, Nebraska at Primal.net or nebitcoin.org.

1105
01:08:14,954 --> 01:08:16,034
Nebitcoin.org.

1106
01:08:16,114 --> 01:08:19,434
Not any, A-N-Y, N-E-N-E.

1107
01:08:19,494 --> 01:08:21,314
Thank you for spelling it out because I was confused.

1108
01:08:21,974 --> 01:08:22,334
Yes.

1109
01:08:23,074 --> 01:08:23,814
That's awesome.

1110
01:08:23,874 --> 01:08:24,714
Great initiative.

1111
01:08:25,414 --> 01:08:26,134
Shout out to Nebraska.

1112
01:08:26,834 --> 01:08:28,854
Shout out to Evan and the Nebraskan freaks out there.

1113
01:08:28,914 --> 01:08:30,294
I know there are dozens of you.

1114
01:08:32,134 --> 01:08:34,954
Pringle Mac, 44,444 sats.

1115
01:08:35,074 --> 01:08:35,754
Fours across the board.

1116
01:08:35,834 --> 01:08:36,454
Palindrome boost.

1117
01:08:36,634 --> 01:08:37,514
Happy New Year's, freaks.

1118
01:08:37,814 --> 01:08:39,454
2026 is shaping up to be a banger.

1119
01:08:40,134 --> 01:08:41,854
Good, bad, and ugly, but we will win.

1120
01:08:41,934 --> 01:08:42,994
Stay humble, stack sats.

1121
01:08:43,394 --> 01:08:44,814
Be the change you want to see in the world.

1122
01:08:46,634 --> 01:08:49,214
And donate to OpenSats freaks.

1123
01:08:50,034 --> 01:08:51,434
Hope you got our donation, Matt.

1124
01:08:52,034 --> 01:08:53,174
Sorry for your loss, Marty.

1125
01:08:53,174 --> 01:08:58,274
ants rock they do rock and thank you for that big love always sill and tony shout out to the

1126
01:08:58,274 --> 01:09:02,414
ride or die sill and tony thank you great advice and thank you for supporting open stats open

1127
01:09:02,414 --> 01:09:08,834
stats.org we actually sent out uh every month every month we sent out a million dollars worth

1128
01:09:08,834 --> 01:09:18,814
of bitcoin to 200 plus people in 40 plus countries multi-sig um i helped process that transaction

1129
01:09:18,814 --> 01:09:25,374
today with my cold card. Pretty fucking cool. Pretty fucking cool to see. It makes me bullish

1130
01:09:25,374 --> 01:09:37,214
every fucking time. Multi-sig, straight to grand recipients. Yeah. Yeah. Before we go into the last

1131
01:09:37,214 --> 01:09:41,034
topic, I'm going to throw in a new topic because I saw Freak talking about it in YouTube and I

1132
01:09:41,034 --> 01:09:46,714
did some quick research. It does seem like it is validated on the theme of

1133
01:09:46,714 --> 01:09:50,634
the predictable demise of fiat currencies,

1134
01:09:51,674 --> 01:09:53,074
centrally controlled fiat currencies.

1135
01:09:54,074 --> 01:10:00,014
Looks like UK banks borrowed a record 99 billion British pounds of liquidity

1136
01:10:00,014 --> 01:10:03,734
from the Bank of England on repo this morning.

1137
01:10:04,874 --> 01:10:07,594
So it looks like there may be a liquidity crisis emerging

1138
01:10:07,594 --> 01:10:10,814
in the British banking system.

1139
01:10:11,234 --> 01:10:12,494
Mandibles and Bitcoin standard.

1140
01:10:13,074 --> 01:10:14,954
The intercabal squabble happens.

1141
01:10:14,954 --> 01:10:19,774
we're suffocating the city of London right now, attacking the Eurodollar system.

1142
01:10:20,834 --> 01:10:21,794
Silver screen is on.

1143
01:10:22,794 --> 01:10:26,594
Have you heard the city of London silver connection theory?

1144
01:10:28,134 --> 01:10:29,054
Did you see?

1145
01:10:30,854 --> 01:10:33,934
First of all, Matt A. Miller asked if it was a cold card queue.

1146
01:10:34,074 --> 01:10:36,314
Yes, best hardware wallet available.

1147
01:10:36,654 --> 01:10:37,814
My family relies on it.

1148
01:10:37,954 --> 01:10:39,014
OpenSats relies on them.

1149
01:10:39,014 --> 01:10:42,214
you can use code RHR

1150
01:10:42,214 --> 01:10:43,854
for a discount

1151
01:10:43,854 --> 01:10:45,074
coldcarb.com

1152
01:10:45,074 --> 01:10:46,194
I have my guide at

1153
01:10:46,194 --> 01:10:47,394
werunbtc.com

1154
01:10:47,394 --> 01:10:48,174
slash coldcarb

1155
01:10:48,174 --> 01:10:50,234
check it out

1156
01:10:50,234 --> 01:10:51,654
I

1157
01:10:51,654 --> 01:10:53,934
when I posted

1158
01:10:53,934 --> 01:10:54,654
the

1159
01:10:54,654 --> 01:10:56,314
hostage video

1160
01:10:56,314 --> 01:10:59,154
did you see

1161
01:10:59,154 --> 01:11:01,474
Richard Grease's comment

1162
01:11:01,474 --> 01:11:02,214
underneath it

1163
01:11:02,214 --> 01:11:03,854
no I didn't

1164
01:11:03,854 --> 01:11:05,734
the Powell hostage video

1165
01:11:05,734 --> 01:11:07,094
it was

1166
01:11:07,094 --> 01:11:14,894
uh it was an all-time great this is what you know it's like this is the metrics that matter

1167
01:11:14,894 --> 01:11:20,754
to me on nostril like as long as the writer dies can make me laugh it's a win looking forward to

1168
01:11:20,754 --> 01:11:24,874
the interview marty bent does with tom luongo to explain why and how this means bad news for

1169
01:11:24,874 --> 01:11:33,874
the bank of england that'll happen next week freaks give them a look out i did see that actually

1170
01:11:33,874 --> 01:11:34,674
I got to check on.

1171
01:11:34,854 --> 01:11:35,034
Yeah.

1172
01:11:35,114 --> 01:11:35,954
When I just checked,

1173
01:11:36,014 --> 01:11:36,614
you zapped it.

1174
01:11:36,794 --> 01:11:37,614
You had already zapped it.

1175
01:11:40,974 --> 01:11:41,734
We got a zap.

1176
01:11:41,814 --> 01:11:42,314
Speaking of zaps,

1177
01:11:42,354 --> 01:11:43,254
we got one of the live stream,

1178
01:11:43,474 --> 01:11:45,394
bitcoinsponsorships.com.

1179
01:11:45,454 --> 01:11:46,114
I can't read the whole thing.

1180
01:11:46,174 --> 01:11:46,694
I think it's that.

1181
01:11:46,794 --> 01:11:47,214
Love the show.

1182
01:11:47,294 --> 01:11:48,574
If you need sponsors,

1183
01:11:48,814 --> 01:11:50,474
check out bitcoinsponsorships.com,

1184
01:11:50,554 --> 01:11:51,634
a free network connecting

1185
01:11:51,634 --> 01:11:53,154
Bitcoin traders with brands.

1186
01:11:53,874 --> 01:11:54,694
I saw you zapping

1187
01:11:54,694 --> 01:11:57,094
some of our content

1188
01:11:57,094 --> 01:11:58,014
on Primal this week,

1189
01:11:58,794 --> 01:12:00,014
bitcoinsponsorships.com.

1190
01:12:00,254 --> 01:12:02,294
Looking into it.

1191
01:12:02,294 --> 01:12:05,674
I don't know how these guys make money, but apparently it's free.

1192
01:12:07,134 --> 01:12:10,694
Yeah. I mean, no endorsement.

1193
01:12:11,634 --> 01:12:13,014
You can endorse, haven't used.

1194
01:12:13,234 --> 01:12:15,714
So what were you saying? City of London? What about the city of London?

1195
01:12:15,814 --> 01:12:16,434
I cut you off.

1196
01:12:17,074 --> 01:12:18,514
I watched a podcast last week.

1197
01:12:19,074 --> 01:12:23,794
Somebody in the Tom Luongo web of people who are convinced that we're in a

1198
01:12:23,794 --> 01:12:24,854
battle with the city of London.

1199
01:12:24,854 --> 01:12:27,134
Apparently they're going back like 400 years.

1200
01:12:27,134 --> 01:12:34,534
They have debt contracts denominated in silver that have just been rolled over for 400 years.

1201
01:12:34,854 --> 01:12:47,194
And one of the theories of the silver squeeze right now is that they're squeezing the city of London and trying to bankrupt them because all of their multi-century debt obligations are denominated in silver.

1202
01:12:49,454 --> 01:12:50,614
I thought that was fascinating.

1203
01:12:50,614 --> 01:12:55,574
Yeah, I mean, it definitely feels big.

1204
01:12:55,574 --> 01:13:03,194
the silver run the gold run feels big do you see Chamath called for copper copper to run yeah I uh

1205
01:13:03,194 --> 01:13:09,794
to our tether to our uh to the tether uh leadership that might be listening to this show

1206
01:13:09,794 --> 01:13:18,854
when tether copper like when can I buy burgers uh steak and shake with tether copper I'm more of a

1207
01:13:18,854 --> 01:13:23,114
uranium bull these days give me tether uranium how do you how do I was thinking about that too

1208
01:13:23,114 --> 01:13:28,794
use self-custody uranium is that legal i don't think i think people go to jail for uh you have

1209
01:13:28,794 --> 01:13:37,914
to physical uranium only don't buy paper uranium paper uranium is a scam wild times it does the

1210
01:13:37,914 --> 01:13:42,214
commodities the commodities are pointing to mandibles and bitcoin standard is what they're

1211
01:13:42,214 --> 01:13:48,474
pointing to matt matt miller saying uh jamaul free posted a video calling for obama to go to prison

1212
01:13:48,474 --> 01:13:52,614
Well, it's because Obama self-custidied uranium.

1213
01:13:52,914 --> 01:13:53,994
The world's colliding.

1214
01:13:54,214 --> 01:13:55,194
It's all connected.

1215
01:13:56,734 --> 01:14:04,754
I mean, on the uranium front, apparently nuclear energy got classified as ESG-friendly this week.

1216
01:14:05,014 --> 01:14:16,114
That's why it looks like the steps are being taken to untether the nuclear industry from the regulatory tape that's out there.

1217
01:14:16,114 --> 01:14:18,754
It's what we said as soon as it happened.

1218
01:14:18,754 --> 01:14:20,374
It was so obvious as it was happening.

1219
01:14:20,374 --> 01:14:25,174
I was like, as soon as big tech and all the tech bros needed power for AI,

1220
01:14:25,814 --> 01:14:27,654
the entire narrative switched.

1221
01:14:28,374 --> 01:14:31,914
Like all of a sudden it was like, we need power generation,

1222
01:14:32,274 --> 01:14:33,974
next great American century.

1223
01:14:33,974 --> 01:14:38,574
Like we're not doing enough power, coal, nuclear, everything,

1224
01:14:38,574 --> 01:14:40,514
like as much power as possible.

1225
01:14:41,554 --> 01:14:42,654
Completely flipped.

1226
01:14:42,654 --> 01:14:45,774
No one's shitting on Bitcoin's power usage anymore.

1227
01:14:46,114 --> 01:14:52,214
And all eyes are on increasing as much power generation and efficiency as possible.

1228
01:14:52,314 --> 01:14:54,814
It like flipped on a fucking dime.

1229
01:14:58,034 --> 01:15:07,374
And it is important to stay humble, but it is a little deflating because we were on the anti-ESG.

1230
01:15:07,554 --> 01:15:10,674
We need more power wave like six years.

1231
01:15:10,674 --> 01:15:13,094
I mean, you sent the note out, what, two weeks ago.

1232
01:15:13,094 --> 01:15:16,094
everything Bitcoiners

1233
01:15:16,094 --> 01:15:18,594
Bitcoiners will say something then four years later

1234
01:15:18,594 --> 01:15:20,174
it'll be consensus via Silicon Valley

1235
01:15:20,174 --> 01:15:21,594
and they'll act like they made the idea

1236
01:15:21,594 --> 01:15:24,294
this is why I love prediction markets

1237
01:15:24,294 --> 01:15:26,034
and why I love Bitcoin

1238
01:15:26,034 --> 01:15:28,474
and free markets and why

1239
01:15:28,474 --> 01:15:29,614
I love our work at 1031

1240
01:15:29,614 --> 01:15:31,914
is because if you have skin in the game

1241
01:15:31,914 --> 01:15:34,474
then you can profit off of being right

1242
01:15:34,474 --> 01:15:35,654
and then it just feels good

1243
01:15:35,654 --> 01:15:38,394
you just get the benefit and we just had our

1244
01:15:38,394 --> 01:15:39,014
1031

1245
01:15:39,014 --> 01:15:41,794
annual investor day

1246
01:15:41,794 --> 01:15:46,494
and 1031 is outperforming 90% of funds

1247
01:15:46,494 --> 01:15:48,994
that were all like,

1248
01:15:49,354 --> 01:15:51,634
if you compare our funds to the same year

1249
01:15:51,634 --> 01:15:53,974
that other funds were created,

1250
01:15:54,314 --> 01:15:55,714
we're outperforming 90% of them,

1251
01:15:56,054 --> 01:15:57,034
we're outperforming Bitcoin.

1252
01:15:57,894 --> 01:16:00,234
We're the first check into Giga Energy

1253
01:16:00,234 --> 01:16:01,554
who only raised $5 million

1254
01:16:01,554 --> 01:16:04,054
that now is doing AI compute stuff too

1255
01:16:04,054 --> 01:16:05,234
because they're on the leading edge

1256
01:16:05,234 --> 01:16:06,974
of the storage containers

1257
01:16:06,974 --> 01:16:09,234
used for energy generation,

1258
01:16:09,514 --> 01:16:11,034
just on-demand data centers,

1259
01:16:11,034 --> 01:16:17,994
whether those are bitcoin miners or ai upstream data we're the exclusive investor of um so we did

1260
01:16:17,994 --> 01:16:23,434
place our heads we did make some prediction market bets in that regard yeah i'm i'm i'm

1261
01:16:23,434 --> 01:16:28,874
satisfied with it they don't have to call me up and be like you're right it's fine we were right

1262
01:16:28,874 --> 01:16:33,834
i won't expect a call we did put some money where our mouths were and it is uh it's paying out shout

1263
01:16:33,834 --> 01:16:40,554
out to giga and upstream two incredible companies coming giga giga um and up both of them are

1264
01:16:41,034 --> 01:16:44,034
in a very good position right now.

1265
01:16:44,034 --> 01:16:47,334
This energy wave is only beginning.

1266
01:16:47,334 --> 01:16:50,034
It has nowhere near its crest.

1267
01:16:50,034 --> 01:16:52,274
So I think we have at least another decade

1268
01:16:52,274 --> 01:16:53,834
of energy expansion.

1269
01:16:56,194 --> 01:17:00,334
I just love the, I don't know,

1270
01:17:00,334 --> 01:17:03,234
it's just, I love the competition of it all.

1271
01:17:03,234 --> 01:17:04,414
I mean, there were so many,

1272
01:17:04,414 --> 01:17:05,894
like you want to talk about crypto investors?

1273
01:17:05,894 --> 01:17:08,034
They were all fading proof of work.

1274
01:17:08,034 --> 01:17:10,834
They're all like proof of stake is the future.

1275
01:17:11,034 --> 01:17:12,794
I mean, I remember writing Benz in 2018.

1276
01:17:12,794 --> 01:17:13,994
You don't want to use energy.

1277
01:17:14,814 --> 01:17:16,474
I'll go back and find the receipts.

1278
01:17:16,554 --> 01:17:19,714
When I was writing Benz in 2018, I'm so happy that they're doing this

1279
01:17:19,714 --> 01:17:22,794
because you don't realize that this intersection of compute and energy

1280
01:17:22,794 --> 01:17:24,134
is the next big thing.

1281
01:17:24,234 --> 01:17:27,874
You actually want to be using a lot of energy

1282
01:17:27,874 --> 01:17:32,254
because it makes you a strategic stakeholder in our energy systems,

1283
01:17:32,254 --> 01:17:34,694
which is a very valuable spot to be in.

1284
01:17:35,534 --> 01:17:39,554
I see Austin in Ride or Die, Primal Chat,

1285
01:17:39,554 --> 01:17:41,454
asking Giga's doing AI now.

1286
01:17:41,794 --> 01:17:42,534
You know, they're agnostic.

1287
01:17:42,714 --> 01:17:45,474
They do power generation.

1288
01:17:45,974 --> 01:17:48,194
Yeah, they're not running their own GPUs.

1289
01:17:48,594 --> 01:17:51,734
Well, they build modular data centers,

1290
01:17:52,314 --> 01:17:54,534
and they've designed the data centers

1291
01:17:54,534 --> 01:17:57,614
in a way where you can input racks

1292
01:17:57,614 --> 01:18:00,554
that can hold Bitcoin miners or GPUs.

1293
01:18:00,594 --> 01:18:01,534
On top of that, they build.

1294
01:18:01,814 --> 01:18:03,154
That's another thing with Giga specifically.

1295
01:18:03,434 --> 01:18:05,674
They notice bottlenecks in the energy sector,

1296
01:18:05,794 --> 01:18:07,754
particularly with transformers,

1297
01:18:08,134 --> 01:18:09,254
which became a big thing.

1298
01:18:09,554 --> 01:18:13,554
years ago and they were like all right let's make transformers these are desperately needed so they

1299
01:18:13,554 --> 01:18:19,074
have a manufacturing facility for transformers in long beach and they just spun up another

1300
01:18:19,074 --> 01:18:25,234
manufacturing facility in houston so they service that they were building gensets as well but they

1301
01:18:25,234 --> 01:18:32,514
also released this demand response software so that miners people um using their data centers

1302
01:18:32,514 --> 01:18:38,194
to mine bitcoin can basically connect to um the substation of the grid system and get real-time

1303
01:18:38,194 --> 01:18:42,994
pricing and decide if they want to turn off or mine bitcoin and um make sure they're as profitable

1304
01:18:42,994 --> 01:18:48,994
as possible they've got a full suite of products that is really positioned well for for this energy

1305
01:18:48,994 --> 01:18:54,354
boon that we're i'm so proud of those guys what hustlers i mean the speed of which i mean we're

1306
01:18:54,354 --> 01:19:02,034
glazing uh our own portfolio company but it is it is uh well-deserved to glaze aren't glazing i mean

1307
01:19:02,034 --> 01:19:02,874
I mean, the speed with which is-

1308
01:19:02,874 --> 01:19:06,854
Talking about glazing portfolio company.

1309
01:19:06,854 --> 01:19:09,474
Did, NVK just showed up in live chat.

1310
01:19:12,094 --> 01:19:12,934
You are late.

1311
01:19:12,934 --> 01:19:13,774
I think it's cut up.

1312
01:19:13,774 --> 01:19:17,594
Do I see, is it only a thousand Satsap or is it 21,000?

1313
01:19:17,594 --> 01:19:19,314
It's 1,000.

1314
01:19:19,314 --> 01:19:20,154
Wow.

1315
01:19:20,154 --> 01:19:23,414
Okay, well, someone's feeling a little frugal today.

1316
01:19:23,414 --> 01:19:26,534
Anyway, we're very proud to support NVK

1317
01:19:26,534 --> 01:19:27,374
and FunKite as the-

1318
01:19:27,374 --> 01:19:28,214
It is defense.

1319
01:19:28,214 --> 01:19:33,454
of the best hardware in the space.

1320
01:19:34,734 --> 01:19:35,694
CoinKite.com.

1321
01:19:35,834 --> 01:19:36,434
Use code RHA.

1322
01:19:36,554 --> 01:19:37,954
Since you are late, you missed it.

1323
01:19:37,994 --> 01:19:38,934
I was holding this up earlier.

1324
01:19:39,114 --> 01:19:40,194
So you'll be happy to know.

1325
01:19:40,974 --> 01:19:41,194
Yeah.

1326
01:19:43,014 --> 01:19:46,294
I was hoping that my interface was just dropping,

1327
01:19:46,514 --> 01:19:48,354
drop the two in front of 21,000.

1328
01:19:49,794 --> 01:19:50,834
What are you going to do?

1329
01:19:52,494 --> 01:19:53,334
Last thing on the list,

1330
01:19:53,374 --> 01:19:54,574
but I feel like we could riff after this.

1331
01:19:54,574 --> 01:19:58,054
Your mugs and beer is making me very thirsty for a beer.

1332
01:19:58,214 --> 01:19:59,954
You like I've been mugging it lately.

1333
01:20:00,454 --> 01:20:01,134
I like the mug.

1334
01:20:01,434 --> 01:20:03,794
I was talking about it like the mug last night.

1335
01:20:04,394 --> 01:20:05,874
The cold mugs at PubKey DC.

1336
01:20:06,654 --> 01:20:07,534
This was a warm mug.

1337
01:20:08,094 --> 01:20:09,414
It was a room temperature mug.

1338
01:20:09,494 --> 01:20:10,174
Let's be honest.

1339
01:20:11,954 --> 01:20:15,794
HRS Bitcoin Development Fund announces support for 22 projects worldwide.

1340
01:20:16,014 --> 01:20:18,954
They send out over 1.3 billion Satoshis and grants.

1341
01:20:19,914 --> 01:20:20,354
Massive.

1342
01:20:20,414 --> 01:20:21,034
Love to see it.

1343
01:20:21,154 --> 01:20:22,034
Great project supported.

1344
01:20:24,194 --> 01:20:25,234
They're doing great work.

1345
01:20:25,234 --> 01:20:33,794
um it looks like marty's wife has just walked into the room she she she did she's wondering

1346
01:20:33,794 --> 01:20:38,514
if she can leave the house and leave our four-month-old in uh napping this crap yes yes

1347
01:20:38,514 --> 01:20:47,794
you can baby yeah it's off camera as long as as long as off camera i feel fortunate don't you feel

1348
01:20:47,794 --> 01:20:53,074
fortunate you know we'll do this i know you're absolutely blessed to you yeah absolutely blessed

1349
01:20:53,074 --> 01:20:57,354
It was nice knowing that we're doing this and our wives and our children are not too far away from us right now.

1350
01:20:58,294 --> 01:21:02,554
No, it's, we have a lot to be grateful for.

1351
01:21:04,334 --> 01:21:05,354
Wow, look at this.

1352
01:21:05,674 --> 01:21:08,714
No zap in the YouTube live chat, but got a shout out.

1353
01:21:08,814 --> 01:21:10,434
Started watching you guys seven years ago.

1354
01:21:10,534 --> 01:21:11,774
Seems like another lifetime ago.

1355
01:21:11,974 --> 01:21:12,694
It really does.

1356
01:21:12,874 --> 01:21:13,534
It is crazy.

1357
01:21:13,694 --> 01:21:14,074
I love it.

1358
01:21:14,134 --> 01:21:16,954
It's like a great name too.

1359
01:21:17,074 --> 01:21:18,814
One, nine, two, one, six, eight, one, one.

1360
01:21:19,474 --> 01:21:21,934
I hope that's not your, your IP address, sir.

1361
01:21:21,934 --> 01:21:22,594
No, no, no.

1362
01:21:22,594 --> 01:21:24,094
That's like a local IP.

1363
01:21:24,094 --> 01:21:26,694
That's like when you're like trying to access your router

1364
01:21:26,694 --> 01:21:27,834
or something.

1365
01:21:27,834 --> 01:21:30,094
It's like, oh, my router has the same IP address.

1366
01:21:33,274 --> 01:21:35,074
And as far as portfolio companies,

1367
01:21:35,074 --> 01:21:36,534
I forgot to put this on the list.

1368
01:21:38,514 --> 01:21:39,654
If you've been living under a rock,

1369
01:21:39,654 --> 01:21:42,374
1031 is the largest investor in Strike.

1370
01:21:42,374 --> 01:21:45,794
And Strike just launched Mississippi, Virginia, Ohio,

1371
01:21:45,794 --> 01:21:48,854
and Tennessee, the great state of Tennessee

1372
01:21:48,854 --> 01:21:52,234
for Bitcoin-backed loans, obviously.

1373
01:21:52,594 --> 01:22:04,574
As it's my base of operations, we've been very excited to get Tennessee out the door, but now they're all alive. We're going to try and just knock them out jurisdiction by jurisdiction. It's going to be a big couple of months.

1374
01:22:06,674 --> 01:22:19,334
Shipping, shipping. We're pumping. Everybody's doing well. Fade the haters. People saying you can't invest in Bitcoin companies. There's nothing there. Bitcoin is going to be destroyed by quantum computing.

1375
01:22:19,334 --> 01:22:27,894
yeah one of the people that said that actually bottom ticked uh bottom take this maybe too early

1376
01:22:27,894 --> 01:22:32,214
to call that it could be a bull trap could be a bull trap i uh i'd hold that well even if it's a

1377
01:22:32,214 --> 01:22:37,814
bull trap i'm going to take advantage of the moment to say that he bottom ticked it and uh

1378
01:22:37,814 --> 01:22:43,734
what what was the message he said he said uh he said wait for the coming days they're going to

1379
01:22:43,734 --> 01:22:52,534
dump on you because of quantum computing and just like at 80 000 it was if if we had to do

1380
01:22:52,534 --> 01:23:00,694
all-time high i will prove it literally was a bottom tech coast i mean look usually usually

1381
01:23:00,694 --> 01:23:08,294
we need a couple sacrifices for bitcoin to turn around and uh we had a three-peat basically

1382
01:23:08,294 --> 01:23:15,254
the cycle, we had Nick Carter, we had Mike Brock and Luke

1383
01:23:15,254 --> 01:23:19,934
Roman. And I think Luke is the probably the most

1384
01:23:19,992 --> 01:23:24,552
disappointing one and he'll probably come around i don't think luke is out out i mean he made a

1385
01:23:24,552 --> 01:23:29,912
trade you see someone no but he's he's emotionally invested in that trade right now do you see him

1386
01:23:29,912 --> 01:23:35,032
i have a lot of respect for luke which is why it was the most disappointing but he's like out there

1387
01:23:35,032 --> 01:23:42,552
like on bitcoin actively on twitter ah luke he's emotionally invested in the trade now

1388
01:23:43,352 --> 01:23:46,952
i'll have to have luke back that's where it becomes a problem he's a good friend i i respect luke i

1389
01:23:46,952 --> 01:23:47,952
I love it.

1390
01:23:47,952 --> 01:23:48,952
I hate to say it.

1391
01:23:48,952 --> 01:23:55,512
Look, I look forward to him turning around at Bitcoin's next all time high against gold.

1392
01:23:55,512 --> 01:23:58,952
When is that coming?

1393
01:23:58,952 --> 01:23:59,952
This is super cycle.

1394
01:23:59,952 --> 01:24:00,952
This year.

1395
01:24:00,952 --> 01:24:02,952
No, it's going to come.

1396
01:24:02,952 --> 01:24:06,512
My prediction at the beginning of the year was that we're going to hit a new all time

1397
01:24:06,512 --> 01:24:14,852
high in gold and new all time high in silver and also new all time in dollars this year.

1398
01:24:14,852 --> 01:24:18,352
And you said yes to dollars, no to silver, no to gold.

1399
01:24:18,352 --> 01:24:20,552
I mean, silver and gold are still falling.

1400
01:24:20,552 --> 01:24:22,392
And you refuse to bet on it.

1401
01:24:22,392 --> 01:24:24,912
We're starving out the city of London.

1402
01:24:24,912 --> 01:24:30,272
I think dollar all time high is definitely within the realm of possibility.

1403
01:24:30,272 --> 01:24:31,512
That's not as fun anymore.

1404
01:24:31,512 --> 01:24:34,292
We need gold and silver all time highs.

1405
01:24:34,292 --> 01:24:34,892
That's true.

1406
01:24:34,892 --> 01:24:35,872
That's the harder call.

1407
01:24:35,872 --> 01:24:36,912
I think that's the harder call.

1408
01:24:36,912 --> 01:24:43,092
I think there's a decent amount of people that think that we'll have a dollar all time high

1409
01:24:43,092 --> 01:24:46,892
Just because the printer is about to, I mean, you saw the Fed hostage video,

1410
01:24:47,012 --> 01:24:55,856
like the printer is about to go fucking wild But the question is how does that relatively perform against silver and gold which have Lindy and have been around forever

1411
01:24:58,336 --> 01:25:01,716
Matt A. Miller saying new all-time high price in gold equals $185,000.

1412
01:25:02,196 --> 01:25:07,296
Obviously, like gold would be ripping in that situation too,

1413
01:25:07,396 --> 01:25:08,676
so it's probably higher than that.

1414
01:25:09,116 --> 01:25:13,736
We'd probably meet them somewhere in the 200s, something like that.

1415
01:25:13,916 --> 01:25:15,436
I don't know. Stay humble and stack stats about it.

1416
01:25:15,436 --> 01:25:17,316
But Marty refuses to bet me on this.

1417
01:25:17,716 --> 01:25:19,656
I don't know, Marty, did you see someone in NASA was like,

1418
01:25:19,996 --> 01:25:21,096
Marty, water's wet.

1419
01:25:22,116 --> 01:25:23,356
Odell, want to bet?

1420
01:25:24,976 --> 01:25:26,796
All right, let's bet on it if you want to bet on it.

1421
01:25:26,816 --> 01:25:29,036
And then someone underneath was like, water isn't wet.

1422
01:25:29,316 --> 01:25:30,296
And I love that part too.

1423
01:25:30,456 --> 01:25:31,136
It's just...

1424
01:25:31,136 --> 01:25:37,296
100,000 sets, December 31st, 2026 at midnight,

1425
01:25:37,796 --> 01:25:40,576
right before the ball drops, right as the ball's dropping.

1426
01:25:42,136 --> 01:25:43,976
That all-time high was hit before that.

1427
01:25:43,976 --> 01:25:50,396
we could drop below it but that yes yes before that between now as long as i we breach all-time

1428
01:25:50,396 --> 01:25:55,736
high in gold in gold we breach all-time high in gold it counts i thought it was gold and silver

1429
01:25:55,736 --> 01:26:03,716
which one is it will you give me two to one on the on the tandem yes 100 000 sats two to one

1430
01:26:03,716 --> 01:26:08,636
on the tandem you have to hit so you pay me 200k i have to hit both and they don't have to be on

1431
01:26:08,636 --> 01:26:09,636
the same day, obviously.

1432
01:26:09,636 --> 01:26:10,636
No.

1433
01:26:10,636 --> 01:26:11,636
No good deal.

1434
01:26:11,636 --> 01:26:15,636
I immediately regret that decision.

1435
01:26:15,636 --> 01:26:29,520
You heard it here first week somebody write it down We don have the bet tracker so we been talking about it for over a year We only have one outstanding This is the first We didn have any outstanding bets until we just made that bet Yeah Now we have one

1436
01:26:29,640 --> 01:26:31,840
We've filled out all our other bets.

1437
01:26:33,980 --> 01:26:35,060
I'm on a losing streak.

1438
01:26:35,120 --> 01:26:35,880
I need to win this one.

1439
01:26:37,160 --> 01:26:37,360
Yeah.

1440
01:26:37,380 --> 01:26:40,760
Ever since my wife told me to stop betting on memples, I've been fucking crushing.

1441
01:26:41,300 --> 01:26:41,580
Yeah.

1442
01:26:41,680 --> 01:26:42,660
That's the last one I won.

1443
01:26:42,820 --> 01:26:43,800
I'm going to win this one, though.

1444
01:26:44,760 --> 01:26:47,320
Speaking of winning, we're winning in the live chat on Noster.

1445
01:26:47,320 --> 01:26:48,980
Florida Justin Zapp does

1446
01:26:48,980 --> 01:26:51,140
22,122 sats palindrome

1447
01:26:51,140 --> 01:26:52,720
Zapp appreciate you lads

1448
01:26:52,720 --> 01:26:53,820
appreciate you too lad

1449
01:26:53,820 --> 01:26:56,120
appreciate you too

1450
01:26:56,120 --> 01:26:59,320
alright I'm gonna go

1451
01:26:59,320 --> 01:26:59,860
have a Guinness

1452
01:26:59,860 --> 01:27:01,300
I'm gonna go have a Guinness

1453
01:27:01,300 --> 01:27:03,360
and

1454
01:27:03,360 --> 01:27:06,000
enjoy this

1455
01:27:06,000 --> 01:27:09,180
beautiful Thursday afternoon we have here in the Philadelphia area

1456
01:27:09,180 --> 01:27:10,700
a little frigid a little cold but

1457
01:27:10,700 --> 01:27:12,840
sun's out vibes are high

1458
01:27:12,840 --> 01:27:15,340
huge shout out to the freaks

1459
01:27:15,340 --> 01:27:17,200
fighting for freedom in Iran and you

1460
01:27:17,200 --> 01:27:19,440
Uganda and everywhere else in the world.

1461
01:27:21,420 --> 01:27:26,760
Huge shout to NVK on bringing another baby into the world since he just reiterated it

1462
01:27:26,760 --> 01:27:27,520
in the live chat.

1463
01:27:28,980 --> 01:27:29,900
More babies.

1464
01:27:30,200 --> 01:27:30,780
More babies.

1465
01:27:30,920 --> 01:27:33,120
We need strong Bitcoiner families.

1466
01:27:34,500 --> 01:27:35,000
Love you all.

1467
01:27:35,140 --> 01:27:35,960
Stay on the stack sets.

1468
01:27:36,500 --> 01:27:38,060
Well, on that note, I won't end it yet.

1469
01:27:38,140 --> 01:27:40,420
I tried to bribe my wife this morning to have our fourth baby.

1470
01:27:41,180 --> 01:27:43,060
You don't have to bribe her that hard.

1471
01:27:43,660 --> 01:27:44,500
I know her well.

1472
01:27:45,140 --> 01:27:45,500
I know.

1473
01:27:45,500 --> 01:27:46,220
There's no bribe.

1474
01:27:47,200 --> 01:27:49,200
What'd you bribe her with?

1475
01:27:53,200 --> 01:28:03,264
With the newborn It like you know it annoying You have the car seat then you put the stroller in the back There now a car seat that is also a stroller

1476
01:28:03,464 --> 01:28:05,224
You just take it out and fold it.

1477
01:28:07,104 --> 01:28:08,724
She's like, I want to get one.

1478
01:28:08,964 --> 01:28:10,664
We'll sell it next year when he's walking.

1479
01:28:10,864 --> 01:28:12,344
I was like, you don't have to sell it.

1480
01:28:12,444 --> 01:28:14,104
You can get it if we have it for us.

1481
01:28:15,724 --> 01:28:18,504
Honestly, I don't like that car seat, though.

1482
01:28:19,504 --> 01:28:20,324
Have you used it?

1483
01:28:20,324 --> 01:28:28,304
it I haven't used it I've heard about it my sister has it I don't know it's just bulky it's like uh

1484
01:28:28,304 --> 01:28:34,364
it tries to kill two birds with one stone it does like both poorly like I like the car seat that

1485
01:28:35,444 --> 01:28:41,864
rotates out so it's easy to put them in you know I'm talking about I always feel bad

1486
01:28:41,864 --> 01:28:48,104
that one I recommend that one I recommend and then we have like a super lightweight stroller

1487
01:28:48,104 --> 01:28:52,284
and it's like so you mix the two together and you have like a worse car seat and you have a worse

1488
01:28:52,284 --> 01:28:56,804
stroller but yeah anyway you should have more babies i i don't think you have to grab your

1489
01:28:56,804 --> 01:29:01,624
wife too hard on that one i think she's pretty aligned i don't you know you're like four months

1490
01:29:01,624 --> 01:29:06,744
after the pregnancy is a very physical thing it's like of course it's like the most physical thing

1491
01:29:06,744 --> 01:29:11,024
you gotta be i don't know if i could do it you gotta be strategic about bringing up the next baby

1492
01:29:11,024 --> 01:29:12,744
after the last one.

1493
01:29:14,304 --> 01:29:14,904
Freaks,

1494
01:29:15,124 --> 01:29:17,004
yeah, have babies.

1495
01:29:17,844 --> 01:29:18,564
Strong families.

1496
01:29:19,964 --> 01:29:20,344
Bullish.

1497
01:29:21,964 --> 01:29:22,684
Peace and love, freaks.