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You've had a dynamic where money's become freer than free.
When you talk about a Fed just gone nuts, all the central banks going nuts.
So it's all acting like safe haven. I believe that in a world where central bankers are tripping
over themselves to devalue their currency, Bitcoin wins. In the world of fiat currencies,
Bitcoin is the victor. I mean, that's part of the bull case for Bitcoin.
If you're not paying attention, you probably should be.
Nice hat. We didn't even call each other before this.
Is that the one I sent you? No, I actually found it. It was in one of the moving boxes.
I was home earlier this week and found it.
I sent Marty a care package of hats.
You never have too many hats.
There you go.
Let me pull up zap.stream here.
See if we're getting DDoSed or not today.
It looks like we're live.
We are live.
Take out...
rhr.tv slash stream.
All links at rhr.tv.
Share it with your friends and family.
I've had a productive day so far
How about you sir?
Very productive
It's nice waking up to a little
little pump action
You're considering this a pump?
I said a little pump action
Look
You weren't here
Logan was prepping that
that soundboard button
before you hopped on.
You were singing it when I joined.
So our non-clickbait title for the week
is Bitcoin is Going Much Higher.
That's non-clickbait?
Yeah, I mean, it's just a fact.
How's that clickbait?
What's our clickbait title?
I don't know.
You guys are in charge of that one.
Logan, what's the clickbait title?
I made up the one this time.
It's just the plan to spy on your encrypted messages.
I like that.
you know it's accurate there is a plan to do it we'll get to it you didn't put like an insane
price prediction in it this time no no look what is your price prediction for the end of the year
we haven't asked you we never asked you how high you think you're higher higher great prediction
stable stack sets i mean marty are you you're telling me that when you wake up when you woke
up in the morning you saw us over 116 it didn't make you feel a little bit better
I don't really check the price that much.
I did start journaling again, and then I'd do the date,
and then the price, I was like, oh, $116, nice.
But we were down to $112, $113 for like two days.
It wasn't even that bad.
The best way to check the price of Bitcoin
is following RectBot on Noster.
BitMEX RectBot?
UTXO runs it.
it's not just bitmax i think it's he does like all the top exchanges
but it's whenever someone gets liquidated on the short side of the long side
don't tread and then he trade with leverage freaks he puts a nice little meme there's like
a nice little meme attached to each one it changes every time yeah it's uh yeah i didn't really like
I want to consider this a pump.
We're in consolidation.
I've been checking via Clark's dashboard, not Bitbo.
Yeah, it is a bit of a pump.
We went from 15 to...
Yeah, we're up a half percent in the last 24 hours.
I wouldn't call that a pump.
I mean, but the S&P is down.
Is it?
I said a little pumpage, is what I said.
I'm not pretending it's a Bitcoin pump.
It's not like a god candle or some shit.
We don't have to argue about the semantics of it.
It's just nice.
It's like, okay.
S&P is flattish down today.
Bitcoin's behaving pretty strong.
Feels good.
Okay, I agree with that.
I agree with that.
Let's see, what is the S&P down today?
S&P is down half a percent.
Bitcoin's up half a percent.
There you go.
A little pumpage.
NASDAQ's down
yeah we're in it
we're winning
we got a lot to talk about
let's check in the price of Bitcoin on Clark's dashboard
it's currently 116,260
cuck bucks, one cuck buck is going to get you
860 sats
currently sitting at a 2.31 trillion
dollar market cap
which means we are 5.5%
away from the all time high
of $123,060.
According to Clark's dashboard, we are at block height $909,057, which means we are a little
over a day away, 159 blocks away from the next difficulty adjustment, which will happen
tomorrow as of right now.
So we can look at an upwards adjustment of 1.5%.
Block's been coming in at 9 minutes and 51 seconds on average.
There are currently 3,022 transactions in Clark's mempool.
Go over to mempool.space.
We shall see that there are, waiting, waiting, 90,886 transactions.
Big divergence there.
I imagine it's because Clark's not recognizing transactions under one step for me.
The miners are so retarded for accepting sub-one-sat transactions.
Yeah.
What the hell?
Expand on that. Why do you think that's the case?
It's their prerogative, but why are they driving their fee market lower is very short-term thinking.
Yeah.
so i mean for those watching from home that are not aware um
uh the the minimum fee is not a consensus rule um it's a policy rule uh so you can change it
without a fork or anything like that um historically it's been one side per bite
that was the floor that was the lowest fee you could pay that would go into a block
and then a few of the large miners started
accepting sub one sat fee transactions
and now at this point it's like 80 90 percent of the hash
I would guess I haven't checked exactly
but yeah they're valid transactions so
that's their decision to make
yeah I don't know why they would
This sort of happened out of nowhere too.
I woke up one day and was like,
oh, the miners are accepting sub one set per V byte transactions.
I was like, why would you do that?
We have a troll that really loves us
that tries to DDoS the Zapstream every time
our HR and dispatch are live.
And I think it's a sign of respect.
but we are live on YouTube, on X, on Twitch.
The recording will be posted at primal.net slash RHR.
And primal video streaming should be up and running in two weeks-ish.
So stay tuned for that.
Yeah, if you're listening on X or YouTube
because you can't get on zap.stream
because we're getting DDoS'd out of respect,
hit the retweet
hit the like
share it get people in here we're going to beat
TBPN this week let's see where they are
it's not
it's not a competition
completely different shows
they're at 2.3 thousand
on X right now
we need to get there we're climbing we just
started we're at 547
should reach parody with them
in about 10 minutes
I've had trouble listening to them lately
I don't know
I haven't listened to them at all
I haven't even seen clips on X
I'm usually pretty good with that
The fall winds are beginning to blow in South Jersey
It's August
The storms are beginning to build offshore
We're got some waves headed our way Sunday.
It's a beautiful time to be down here.
Wonderful.
Last month of summer.
Yeah.
Enjoy it.
Take it all in.
I noticed what you've been doing with the list, too.
And I like it.
What?
Front load it with problems.
I won't say doomerism.
Realism.
Problems that exist.
And then by the end, we're talking about solutions to those problems.
I finally picked up on this.
You like it?
It's only been seven years.
Only been seven years.
And here is the first topic of this week's episode, which is the verdict in the Tornado
Cash case trial came out this week.
Tornado Cash co-founder of Roman Storm has been found guilty of unlicensed money transmission
conspiracy.
it's being reported
in The Verge
which had
incredible coverage
of the trial
over the last
four weeks
The Rage
that's what I said
right?
Did you say
The Verge?
I did say
The Verge
that's on me
sorry Lola
and team
so
shout out to Paul
so David Morris
from The Verge
from The Rage
is reporting
after nearly
a four week
proceeding
the jury
and
U.S. v. Roman Storm found the Tornado Cash co-founder guilty on one count of conspiracy to operate an unlicensed money-transmitting business under 18 U.S. Criminal Code Section 1960,
but could not reach a decision on the charges of conspiracy to commit money laundering and violate U.S. sanctions, resulting in a mistrial on those counts.
After the trial, Storm and his defense counsel reiterated their commitment to appeal the single conviction.
the 1960 count carries a maximum potential sentence of five years of which storm would likely
to serve only a portion even if he his appeals fail and we have another week and another blow
to privacy in the digital age as the u.s department of justice in the southern district of new york
decided to bring down the hammer on
privacy preserving, non-custodial
Bitcoin, and in this case, Ethereum
smart contract. In the case of Samurai, non-custodial
Bitcoin wallet. Obviously, Samurai wallet was a bit different
in the sense that they pled guilty
to the one count
of conspiracy
to money launder, I believe.
And as we said last week.
Nope, nope, nope.
Running a money transmitting.
They basically pled guilty
to the same thing
that Tornado Cash
was found guilty for.
They pled guilty
to unlicensed money transmission.
That's what it was.
It's interesting.
Because we're not lawyers.
So I guess, so he was, Roman was being charged,
Roman was being charged with unlicensed money transmission.
That's what he was found guilty for.
And then there was a money laundering conspiracy charge
and a sanction evasion charge.
And both of those, it wasn't that he was found not guilty.
He wasn't found guilty or not guilty.
The jury just couldn't decide, which I thought historically meant a mistrial and then you couldn't get retried for it.
But it seems like the SDNY can do another trial and try and get them for both of those two counts as well.
Again, like I think there might be another trial that's going to happen.
So it I don know like it could have been it could have been a worse outcome but this is definitely not the best outcome
I think...
I wonder how the samurai guys are feeling about it.
In a lot of ways,
this might have validated them pleading guilty
and not taking it to trial,
but we we shall see how it plays out i will say that i see a lot of i don't know uh emotional
take this is obviously not an ideal situation in both situations uh they were non-custodial
open source tools uh where the devs didn't actually have control over funds whether that
was samurai or tornado cash they were both open source projects um and there's a concern that
people that maintain open source code can be held liable for that code.
And we've said many times that the best path for America,
if you want to see America flourish,
is for us to be the single best place in the world
to build open source software and to ship that code.
And so this is obviously a massive step in the wrong direction.
I will say, though, that I do think that some of the
I mean, this is definitely not the time to be complacent, but my expectation is what we will see is not a blanket go after every open source developer that's building self-custody wallets and self-custody tools.
I think they're going to make examples out of people that are building specifically privacy-related stuff and privacy-related stuff that hits significant scale, where there's a significant amount of Bitcoin or crypto used with them, which is just a trend we've seen with government for decades.
Yeah.
It's really interesting because obviously we talked a lot about this last week with the encroachment in privacy in terms of just broader online privacy with ID verification.
So being thrust on the major social media platforms and YouTube specifically.
But this is, I mean, it's somewhat of an overhang of the Biden administration.
administration. I mean, these charges, these trials were brought under the Biden DOJ, but
you would have thought that considering the posturing of the Trump administration, that
things may have gone in the other direction. And I know many people are under the belief
that the Trump administration is very pro-crypto and they're just going to let us play with
our Bitcoins. But as you pointed out, if we play with our Bitcoins in a certain way, that
allows us to retain privacy the government still doesn't like that yeah i mean the concern is and
by the way zap streams back live now rhr.tv slash stream um and i think we've said in the past but
when primal ads video streaming it'll be interoperable with other nostril streams including
zap.stream so if you stream on zap.stream it'll show up in all the primal apps as well um i uh
The concern is that we end up in a situation and it kind of seems like we're trending.
We're just self-cut.
When we say private Bitcoin usage, getting just self-custody roped into that in general, right?
Like if you're using Bitcoin in a self-custody way, maybe you're not using CoinJoin.
Maybe you're not using PayJoin.
You're just using self-custody Bitcoin wallets.
Those are treated as proxy software as well.
And then they go after that.
And that's kind of what we saw in that executive order, not executive order, but that executive brief or whatever, whitehouse.gov slash crypto, where they want to expand the Patriot Act to go after self-custody wallets.
So there's definitely a concern here.
I would just, I don't, there's, it's, it's a weird balance, right?
Because you want to sound the alarm, but also I think jumping to the worst possible conclusion
is also can be very counterproductive.
So you kind of have to try and find a middle ground.
I would just add, Marty, you mentioned age verification across social media.
It's more than just social media.
Like I think I saw Wikipedia is doing it now too.
Spotify.
Yeah.
Yeah, more than social media, Spotify was doing it.
Okay, I see Ben Allen Gee, who's, I guess, a lawyer, or just uses an LLM, but he said,
mistrials are a non-final verdict, and as such gives the prosecution an opportunity to try again.
So I think something here to watch will be, first of all, sentencing, right?
So I know the samurai sentencing happens early November, I think, November 7th and 8th.
um i'm not sure ben is telling me he's not a lawyer uh so take that with a grain of salt um
i'd my guess is sentencing for tornado for roman and but the tornado cash case will be around the
same time i'm not sure they're both facing up to five years it's my understanding it's the same
charge um so we'll see how hard they go on sentencing and then the second piece will be to see
if they try and take Roman to trial again for the other two counts.
And I mean, that's, it's a really predatory position to be in
because if they do, then Roman's going to have significant more,
he's going to have to fight another trial again.
Like the costs are going to start really dialing up.
And then the question is, he has the ability to appeal
on what he was found guilty.
The samurai devs do not have the ability to appeal.
so this is something we'll be watching uh we constantly link to the rage i want to say the
rage is doing great reporting they're not ad supported they're purely donation supported
so if you find the reporting helpful definitely consider sending them a bitcoin donation
consider it free shout out to lola and everybody over there for the continued
coverage of this which is not getting the coverage it deserves these days outside of
a few select publications rhr being one of them but i see um so miners just zapped us 21 000 sats
uh he actually had a take on uh noster where he only accepts bitcoin uh for his soap and people
asked why doesn't he accept fiat and his take was uh if you don't want your fiat why should i take it
and i think that's a great take i i love the idea of high quality product that could only be bought
with Bitcoin. I think it's ridiculous to expect the seller to convert your fiat. You can go and
if you have fiat and you don't have Bitcoin, you can go and convert your fiat yourself. It's easier
than ever before to convert into Bitcoin. But his question was, I've heard chatter that this could
set precedent for them coming after LN node runners. What's your take? I mean, this is exactly
what I'm talking about. You know, I, yeah, I mean, they can do whatever the hell they want.
they can make lightning node operators lives hell uh they can be very aggressive with it they can go
after self-custody usage they can go after open source developers of protocols and tools and
wallets they can do a bunch of different things but i think if my guess is my guess is they will
continue the trend of trying to make example of people that have projects that are working at scale
specifically for privacy stuff.
I think that it's probably unlikely
that they will go after
an individual Lightning node operator.
Now, does that change
if you're a very large one?
Maybe.
Does your public messaging
and how you posture yourself
and explain your project matter too?
Yes, probably.
so
that's my take
and I'm not a lawyer
and all of this is just evolving over time
and we kind of have to watch it play out
yeah
I mean
the doomer of me is saying
don't be surprised when they come after lightning node operators
it seems pretty clear that
governments not only here in the US
but globally are losing the narrative,
they're losing their grip on control,
particularly around the narrative,
and they are beginning to really put the pedal to the metal
in terms of stifling people's attempts
to express their displeasure with the state of things.
And one way to really wrangle people
to make it impossible for them to operate in their day-to-day lives by controlling their finances.
So they're trying to cattle herd everybody into completely surveilled and cucked systems.
But it doesn't mean we shouldn't stop talking about it, shouldn't stop fighting for what is right.
And I think the silver lining of this all is the fact that they are trying to clamp down and stifle freedom,
dissent conversation and peer-to-peer economic transactions is a sign that
they're relatively weak. And so they're on the back of their heels. Let's push them over
and get into a freedom-oriented digital age because the alternative is a surveillance state
dystopia that I don't think any of us want to live in, which brings us to our next topic.
There are some people within the halls of government agencies that agree with us on these topics.
And one of those is Hester Pierce, who is the SEC commissioner.
She's a well-known libertarian.
She's been a Bitcoin advocate for many years.
And she did something that I would not expect anybody within the halls of the U.S. federal government and the agencies below them to do, which is she called out the Bank Secrecy Act directly.
saying that it's costly and ineffective and people should have the right to communicate
privately and transact privately. And so this is really important that we have somebody in
the halls of the SEC actually standing up and pointing out that the Bank Secrecy Act is
ineffective and does more harm than good because it deputizes financial institutions and forces them
to collect information, which they are famously unable to secure properly.
Yeah, I mean, this is really surprising to see.
And definitely a positive development.
We'll see if any of this stuff turns into actions.
I don't know how much.
I mean, she's obviously got a decent amount of power of being the SEC chair.
Um, but, uh, she definitely doesn't have power over the bank secrecy act, but I mean, I think
that's the, the final boss is repealing the bank secrecy act.
I mean, some of her comments were particularly pointed and educated.
Uh, I mean, she had this one quote where she says privacy pools and mixers enable a person
to keep private, her compensation, her donations to charity, her associations with political
or religious organizations and her purchases, citing a Supreme Court decision from 1958,
which found that inviability of privacy and group association may in many circumstances
be indispensable to preservation of freedom of association.
That's important.
She went on to say, most fears of financial privacy and the technology that enables it
flow from a genuine desire to protect this nation from enemies and criminals, Pierce concludes.
Safeguarding our families, communities, and country from the harm is extremely important,
but curtailing financial privacy and impeding disintermediating technologies are the wrong
approach. Denying people financial privacy, whether through sweeping surveillance programs
or restrictions on privacy-protecting technologies, undermines the fabric and freedoms of our
families, communities, and nation. The American people and their government should guard zealously
people's right to live private lives and to use technologies that
enable them to do so and technologies that have legitimate uses
are better left in the permissionless available for all to use category
even though doing so enables people to use them for bad purposes
because taking any other course would impinge fundamental
liberties. This is the important thing, negative versus positive freedoms
and negative versus positive rights. I think without saying it explicitly
That's what she's getting at here. You can't throw the baby out with the bathwater and prevent all of the good law-abiding citizens, which is 99% of people, I believe. I think that's statistically accurate.
99% of people are lullabying citizens who are just going about their daily lives, trying to work a job, make some money, provide for their family, be good community members.
And these regulations, particularly that stem from the Bank Secrecy Act, really infringe on the ability of the 99% to do things privately.
And as you pointed out, as Hester pointed out, very educated as it pertains to the topic of Bitcoin specifically due to the nature of the public ledger.
Like it is very easy to leak very intimate financial information to anybody you interact with on the ledger.
And so having the ability to disclose what you want to and not your whole wallet or how many UTXOs you have or what UTXOs are connected with each other makes a lot of sense.
no i'm like if you your employer shouldn't know your entire financial history
every transaction you make people that you pay shouldn't know your your your net worth or your
salary um these are very basic things i would say that uh it's quite notable uh the timing of her
release that she released this during jury deliberation on roman's case and almost immediately
following the samurai plea deal so it's definitely notable we'll see we'll watch
this all play out yeah you should see foise zapped us 21 sats and zapped out stream be the change you want to see That is true Great advice That is true
Stop complaining so much and do things.
Yes.
I added this to the list.
You have it further down the list,
but I think we should just build on this particular topic.
Yeah, who do needs the list?
The EU chat control coming in October.
Oh, it's your edition.
Yeah, it's my edition.
So I was unaware that this was happening this quickly.
I mean, we've talked about it.
Well, it's a proposal.
It's a proposal, but if you read the article,
it seems like they have the necessary amount of votes
to make it actual law in mid-October.
We've been talking about it for years.
the European Union
has and the European Parliament
have been on a steadfast
campaign to force
applications that provide their users
with end-to-end encrypted technologies
to provide backdoors.
I don't think they have the votes.
It says it, if you've got to read the article.
It says,
it says, Belgium, Hungary, Sweden, Italy, and Spain
are also in favor, but Germany is undecided.
If Germany decides, then they'll have the votes.
Yes.
So they don't have the votes.
If you go down further,
I believe it says that Germany,
they wouldn't be surprised
if Germany actually votes for this.
Okay, but they don't have the votes
until Germany decides.
Okay, well, whatever.
So controversial European...
It's a big delineation.
A controversial European Union proposal, dubbed chat control, is regaining momentum with 19 of 27 EU member states reportedly backing the measure.
And you only need 15 of 27.
Plan would man at the messaging platform.
No, no, no.
It says right here, a qualified majority is achieved when two conditions are met.
You need 55% of member states, so 15 out of 27, but you also need those member states to represent 65% of the EU's population.
So it might happen.
It's trending in a bad direction, but they don't have the votes yet.
It's not just a number of – once again, definitely not an EU politics expert, but I'm just reading the article that you linked to.
that's why they need Germany
because they need the population amount
2-2-2-2
alright, whether or not
warning then, luckily it's not
over the threshold yet, it's very close to being
over the threshold
there's a vote for this
in October
that would essentially
force the hands of
applications providing and an encryption
to
scan and report
any messages going through their systems to the eu government yeah this is something they've been
trying to get past for a while um it's once again it's uh it's that meme it's protect the children
stop terrorism and they're saying encryption encrypted messages uh are the problem they
need to be able to have a backdoor to the encryption um backdoors are inherently insecure
because if anyone can access it,
then it can be compromised,
taken advantage of by malicious actors.
So if you actually want private communication,
you can't have backdoors,
you need proper end-to-end encryption.
The way they've kind of wiggled themselves around it
is they want the app developers
to scan it locally on your device
instead of a technical backdoor.
And then if something flags,
then contact the authorities.
I will say that Signal,
specifically Meredith Whitaker,
the CEO of Signal,
I mean, she speaks really, really well
on this point, better than we do,
and has been pushing back on it hard.
But she said Signal is just going to pull out of the EU
if this happens.
I don't know if WhatsApp will comply.
Telegram is not encrypted by default.
So they're basically already on it.
And then the big one is going to be WhatsApp with their 5 billion users.
And then the question after that becomes, how far do they go?
Right?
Are they going to block these apps on the app stores?
Are they going to try and go after?
I mean, if you use an Android phone, you can always just sideload the APK without an app store.
So the question really becomes, like, that's the beauty of open source software.
Right?
So you can punish companies, but if there's end-to-end encrypted open source software out there that anyone can install, maybe the user base will be significantly smaller because it'll be less convenient.
But it's a hard thing to technically stop.
So that's the counterpoint, but we'll see how this all plays out.
Now I remember why I brought this up.
It was this and then, Logan, did I put the other?
It's on the bottom and I'm putting it on the list.
Yeah, the other zero hedgelings.
This is coming out of the UK.
And I want to pair these two because you have this happening in the European Union.
I don't know if the UK is back in there.
But regardless, similar things happening in the UK.
I guess The Telegraph did an in-depth sort of investigative journalism report on the Labor Party's plot to silence migrant hotel critics.
And they became aware that the UK government was sending letters to TikTok and other social media platforms,
basically highlighting some posts that they saw saying that they really don't like what was posted.
They want more information on those people and asked explicitly for TikTok to begin reporting sort of posts they see from UK citizens that are critical of the migrant situation in the UK.
And this stemmed from, I believe, the Pakistani rape gangs and the protest after that.
And so these governments do not like people talking freely.
And this article specifically talks about the justification for these data inquiries and sort of forcing the hand of these companies to share the information is to protect the children.
I think it's ECASM is the acronym they're using.
I forget what it stands for.
Let me find it.
Let's see.
Can't find it, but
lo and behold,
trying to protect the children again.
They really just want to
monitor your speech and make sure that you're not
speaking outside of party lines.
It's all about control.
it's not actually about protecting children or stopping terrorism
yeah
criminals will figure out a way to get around all this shit
it just affects average people
they're just trying to live their lives
not be completely exposed in the digital age
we have Matthew D. Zaptis, 21,000 sats
Lake Satoshi last weekend, hundreds of plebs being the change, pure signal.
I saw good vibes coming out of there.
Is Lake Satoshi, is that in El Salvador?
No, I think Lake Satoshi is US-based.
Oh, yeah.
There's Bitcoin Lake in Guatemala.
Lake Satoshi is in Michigan, it looks like.
i mean it looks kind of more like a big pond but i respect it yeah mini lake mini lake it's a mini
lake moving on to the more optimistic part of the show we've got open sats uh what are you guys
calling this a mid-year update it's not a mid-year update we're calling them impact reports the impact
report um yeah so uh it's a very common thing in charity circles is to release like super flashy
impact reports on what they're doing because they have massive operation budgets that they
siphon off of their donations um but we're a very lean organization we're 100 pass through
If you donate a Bitcoin, a Bitcoin goes to open source devs.
But at the same time, we're trying to be the most transparent charity in the world.
And a lot of people do ask, you know, okay, well, what successes have been made through OpenSats?
And a lot of them are behind the scenes.
A lot of them are things that you don't necessarily see on the surface.
So we are releasing more impact reports.
I think this is our third. Everything you can find at opensights.org in our blog. But this one focuses on developer libraries. So this is specifically backend stuff, stuff that helps other developers build apps, open source apps without doing a lot of the heavy lifting hard stuff.
And one perfect example of this is BDK. We've seen many wallets get built on top of Bitcoin DevKit. And it makes the developer's job much easier to build nice, feature-rich, secure wallets without worrying about the heavy lifting and cryptography that is needed to have a secure Bitcoin wallet in the first place.
Another example is Payjoin DevKit.
So we go through all of these examples
and the impact that they've made
and the successes that we've seen from our grant recipients.
Quite proud of it.
Yeah, and I think you're really underselling
the importance of these developer libraries.
I think it becomes significantly easy.
I mean, you alluded to it,
but I think if you talk to anybody building applications
on top of Bitcoin and the different layers above it,
these developer library kits are extremely important to enabling those projects to go from zero to one without having to do the heavy lifting of basically understanding all the sort of protocol logic and packaging it up the right way.
So BDK, LDK.
I mean, you have the cryptography library in here,
SEC, what is it, SECP256K1.
What else do you have in here?
DLC dev kit, love to see that.
Big fan of DLCs, pay join dev kit.
Splicing in LDK, had a good conversation
with Rusty Damon about splicing.
Obviously, he did that for Claire.
And CLightning is implementing it.
LDK implementing splicing will be massive for channel management and privacy between on-chain and the Lightning Network.
And so these development kits are sort of the yeoman's work of the space above protocol development.
So it's great to see you guys supporting this stuff.
You're muted.
Yeah, thanks, Marty.
I mean, it's foundational stuff.
it's incredibly important
I think a lot of people don't realize this work
is even happening how much we all
rely on it
so we're going to try and be louder about it
yeah
moving on business development strike
business bill pay has been released
Jack did one of his
ex-video announcements
so now if you're a business
with a strike business account
you have the ability
to get the modern financial stack checking account buy and sell bitcoin bitcoin wallet borrow against
your bitcoin pay bills and cash or bitcoin now alter your strike business account
yeah i mean this is a big one businesses have been asking for it
um we tried to get it out as quickly as possible um it's been live for individual accounts for
a while now. But the idea is relatively simple. You can hold Bitcoin in Strike and then use it
to automatically pay any of your fiat bills. So whether that's credit cards or
insurance, rent, you can pay any fiat liabilities you have running a small business,
you can now easily pay using strike and only hold Bitcoin.
And I think there's a lot of hype around public Bitcoin treasury companies.
And while at the same time, it's really underappreciated
how much Bitcoin supercharges the small business.
A small business that is stacking Bitcoin, that is profitable,
that is growing a Bitcoin treasury themselves.
it becomes it becomes almost a superpower it gives you a lot of flexibility as you build out
your business and gives you a lot of sustainability as well so we're going to try and ship as many
tools as possible to make it easier to run your business on a bitcoin standard in a fiat world
i was talking to uh another small business that implemented this i guess they were part of the
beta run and they were really excited and pumped about being able to do it and they're highly
recommending tftc with our strike business account to do this because thinking if you are a bitcoin
company running on a bitcoin standard like being able to receive revenue straight to strike convert
it to bitcoin and then if you have bills just to pay directly from bitcoin you can actually operate
100% on a Bitcoin standard while interacting with the fiat rails.
Yeah. I mean, I like to, I kind of think of like,
strike is like almost like a translation layer between the Bitcoin world and the
fiat world. Like it's like,
it translates between a bank account and a,
and a Bitcoin wallet And so all the different and like these features really start to compound on each other Right So like if you build up a Bitcoin treasury then you can take out a small modest loan on your Bitcoin treasury to pay bills without selling the Bitcoin
without incurring a tax hit. Particularly small businesses, it's, it's, it's hard to,
it's harder to get lines of credit and, and small business loans. So it can be very useful to people.
yeah and they're doxing themselves in the zap.stream comments but the small business i was
talking about was tochi pacioli uh they got the beta test and joe was uh joe was telling me he's
loving it yeah he was joe was very excited about it best accountants in the industry
your mic cut out again best accountants and if you're looking for a part-time cfo
So they do that for us at TFTC.
It's great.
I don't know why it just muted itself.
But yeah, I was just saying exactly what you said.
Thank you for doing the hard work, guys.
Best accountants.
And then separately on Strike News, Strike loans are now live in Missouri.
So a lot of questions on Strike is like, when my state, when my country?
And the answer is, you know, every license is a state-by-state, country-by-country basis.
And support is rolling out as quick as possible.
But Missouri is live now.
Go check it out.
We are on to the Financial Freedom Report section of the week.
But before we get to that, I'm going to do it before because I forgot last week to read the boost from you podcasting 2.0 freaks.
And there is a pertinent meetup announcement from last week that we missed.
But luckily, the meetup hasn't happened yet.
So we got four boosts to read from Rabbit Hole Recap 368.
No privacy, no freedom.
This is last week's.
And then we'll go back to the one before.
from Pringle Mac, 22,222 sats,
twos across the board,
Ballandrum Boost,
never bend the knee,
we will win.
Love Sil and Tony.
Love you too, too.
From At Cum Rocket,
haven't heard from him in a while,
21,069 sats.
Grand Rapids Bitcoin Meetup Wednesday,
August 13th, 2025,
from 6 to 9 p.m.
at Founders Brewing Co.
That's located at 235 Cesar E. Chavez Ave,
Southwest Grand Rapids, Michigan,
49503. Join us for our happy hour.
There is no agenda. Just come hang out and connect with local Bitcoiners.
Talk about Bitcoin and Freedom Tech. This is a less formal event than our end of the month
meetup, which involves group discussions and some presentations. Come early, come late.
Stay as long as you want. We look forward to having you join us.
For more information, please contact us via grbitcoin at pm.me.
Check it out.
I'm Rocket.
You had to hit him with it.
21,000, 12 sats, palindrome boost from Stim D.
Hello, Central Maryland freaks.
Bitcoin veterans meet August 8th.
So that is tomorrow, 2025.
And every second Friday at the Mount Airy VFW at 6 p.m.
Open to all, ride or die.
Thank you, Stim D.
At Eric99, haven't heard from you in a while either, brother.
People are coming back.
Ride or die.
Eric99, ride or die, 21,000 sats.
Can you guess what the boost was?
Stable stack sets.
Yes, it was.
Correct.
Great advice.
Appreciate you, Eric 99.
Glad that all is good over there.
Yeah.
All right.
Going back to Rabbit Hole Recap 367.
First Bitcoin company in the S&P 500.
Pringle back 33,333 sets.
Threes across the board.
Pound drum boost.
Don't complain.
Compete.
Wise words, Matt.
It's a beautiful thing being the change you want to see in the world.
I'm so glad our kids are seeing what their parents are capable of doing with a Bitcoin mindset.
Onwards, but always touch grass too.
Love always, Syl and Tony.
Love you, Syl and Tony.
Constant supporters.
Appreciate you guys.
Yes.
Chef Foyzy, 25,252 sats.
That is a palindrome boost.
Beach Bash Meetup at Foster Beach
Sunday, August 10th, 10 a.m. to 2 p.m.
at 5200 North Lakeshore Drive in Chicago.
Barbecue, music, and Bitcoin.
For more info or RSVP,
comment on my Noster note,
which you can find in Fountain if you want to.
If you want to go to Fountain,
you want to go to Rabbit Hole Recap 367,
you'll find that Noster note
and you can reply to that there
because it is a Noster client now.
Beautiful thing.
Nice.
You'll reply right there.
and that was it for the boost
when it rains it pours
yeah
Eric 99 to come back
coming back from the dead
we had very few boosts for the last
two months over 21,000
sats and then
just feel like that was a ton right there
thank you for your support freaks
thank you freaks
now on to the financial freedom report section
brought to you by the human rights foundation
this week coming out of Burma
where invasive cybersecurity law comes into full effect in January.
This newsletter, that is the Financial Freedom Report,
reported on a repressive cybersecurity law enacted by the military junta in Burma
that empowers officials with sweeping controls over digital spaces.
Last week, the law came into full effect.
It criminalizes the use of VPNs, mandates the platform store and hand over user data
to officials upon request, and allows authorities to shut down internet access at will.
It also empowers regime-aligned law enforcement with the absolute authority to check citizens' phones on the street.
Penalties include up to six months in prison for sharing posts deemed quote-unquote misinformation or for using encrypted apps like VPNs to access information.
Reports have already surfaced of police extorting bribes from people at checkpoints for having VPNs or illegal social media like ex-Facebook or YouTube on their phones.
The law poses immediate threats to journalists and activists critical of the military regime or using privacy tools amid the Hunta's effort to stage a sham election to expand militarized control.
This deepens Burma's retreat from the civic freedoms and shrinks the already fragile space for independent voices and the free flow of information.
For more stories like this, make sure you sign up for the Financial Freedom Report newsletter at financialfreedomreport.org.
stakes are high freaks that's pretty fucking bad remember when the military junta started
like during covid and you had like the video of that woman working out like in the
the capital square with her mask on and you just see all the tanks riding behind her
yes that was pretty crazy like that felt like it was ai but it wasn't yeah pretty sure it wasn't
I am
not going to lie
I don't know much about Burma
the resistance there
has been using
3D printed guns
at scale
I think is the first
such case
which is a fascinating
development
it's been pretty effective
it seems
they were using
like the last gun
the JSTARC
designed right?
I think they have, but I think they use a bunch of different models.
Yeah.
But yeah, they're running mostly 9mm.
Yeah, shout out to all you Burma freaks who are living under the oppression of this military junta.
Yeah, I got to read up on what the hell is happening over there.
Just remember that video from COVID.
This last comment actually ties in well to the next subject, next topic, which I skipped over accidentally, but is important to bring up.
Somebody says, I'll just carry a travel phone with me at the airport.
So if you're going to do that, make sure you have a Faraday case for that.
Silent or SLNT, which is the brand name.
I think it's pronounced silent.
It's pronounced silent, but SLNT is, they go by on social on their website.
They announced that they're going to be, they are accepting Bitcoin at slnt.com through Strike.
So for those of you who are unaware, Silent, they're a company that provides Faraday bags, backpacks, fanny packs, laptop covers.
Closing.
Yeah.
They're awesome.
I love their products.
And so the whole idea of a Faraday pouch, a Faraday bag, is that it's designed to cut all radio transmissions from the devices inside.
um so it's like physical airplane mode right if you go into airplane mode we we used to take out
our batteries of our phones now they stop you from taking out your batteries but if you turn
on airplane mode you're really trusting the device if the radios are actually off um so it's good to
uh if you're if you want to keep your devices secure it's good to keep them in faraday bags
and silent is is one of the best in the business uh this is a cool phenomenon it's one of those
situations where um the founders and leadership are bitcoiners uh and they want to start accepting
bitcoin and they're using nostor too which is pretty fucking cool um so definitely check out
their bags i will say on the travel phone segway you used um i don't think a faraday bag necessarily
solves that position like you should any any devices you travel with uh when i was looking
for any reason for a segue there come on give me i know i understand but no no i mean i'm sure you
understand but i to the listeners right like why why mention travel phone right and it's because
if you cross borders you have no rights they will absolutely search anything you have on you if they
if they so choose and that goes for pretty much any government um so you should operate under the
assumption that any devices you have on you, any bags you have will be searched. The contents
could be compromised. And you should travel accordingly. And now that more and more of our
lives are on our digital devices, an easy way to reduce that risk is to travel with a different
device that has very limited information on it. Of course, you should also, you know, modern phones,
whether you're running graphene or even iPhone or even stock Android are
encrypted at rest when you turn them off.
And so you should do that as well just to make the oppression a little bit
more difficult, but in general,
you should not travel with anything you don't want to be taken from you.
Yeah.
All you freaks traveling through the European union on your way to Baltic
Honey Badger next week.
Consider it.
The festivities have already started.
They have BTC++.
BTC++.
What are you going on?
Looks like vibes are high over there.
I know.
The BitChat experimentation has been
really interesting to see.
And I saw Callie tweet out
in posts on Noster that
they sort of vibe-coded,
hackathoned
a non-custodial cashew mint,
I believe.
so um not really uh that's a that's like a little bit the mint is a non-custodial
um so they're using they're using whether it's a little bit weird i've only barely looked into
Obviously, I haven't used it, but my understanding is that they're using Spillman channels, which is what the ARK team is using for their ARK deployment.
And so then you're converting from Bitcoin to eCash on the fly only when you make a payment.
And I liked Luke Child's example of this as basically, think of it like a nodeless lightning node, right?
So instead of using a lightning channel, which is the current status quo for converting from Bitcoin to eCash, you use a Spillman channel and you do it on the fly.
So you don't have any of the liveness requirements of Lightning.
You don't need to have a node that's running 24-7 or any of the other trade-offs that you have with Lightning because they're using Spillman channels.
But yeah.
Here's how Luke described it in his proposal.
This proposal introduces a self-custodial credit system that sits in front of an existing e-cash Mint user.
The user's balance is held in a trustless credit contract that can be instantly swapped for e-cash tokens off-chain at the time of payment.
Custodial risk only exists while payments are in flight, which is usually seconds, and only for the amount currently being transacted.
The balance is always self-custodial.
And if the Mint disappears or is uncooperative, the user can unilaterally exit and reclaim their credits on-chain.
The protocol works on Bitcoin today and does not require a soft fork or any new opcodes.
In fact, it doesn't require any opcodes at all.
The protocol is almost entirely off-chain.
Every possible way to execute the trustless credit contract results.
In a musig to taproot key pass spend on-chain.
No Bitcoin drifts required.
Really cool.
Yeah.
I think the main trade-off between Spillman Channels and Lightning
is that Spillman channels are one direction only.
So I think you can use this for sending,
but not for receiving,
which in this context works.
Yeah, at least, correct me if I'm wrong,
but Spillman channels were the first ever
type of payment channel proposed on BitcoinTalk.org
many, many years ago.
Yeah, I believe that's the case.
And basically, the innovation of Lightning
is that the payment channel goes in both directions bilateral yeah but it comes with a
bunch of additional trade-offs that you have um so yeah pretty cool yeah
next step i see gary gary is also mentioning in the chat they also have spillman channels also
have the trade-off that they expire in a predetermined amount of time rather than a
lightning channel that stays open until you close it.
yeah that's why arc has the rounds right yeah i like all these um
i don't know clever different ways of handling
you know the current situation which is that is very difficult not very difficult but there's a
lot of trade-offs to using lightning in a self-custody way um and we need to crack that nut
because the answer isn't everyone using custodial wallets.
If you ask Matt Corallo, he's pretty confident and bullish on non-custodial Lightning,
particularly towards the end of this year.
Look, we've been hearing it for years.
I would love to see it in my hands.
I would too.
Gary's also saying we need more cryptographic
technicians playing with primitives
study math folks
unfortunately for me
maybe too late to learn the math Gary
I'll get my children on it
speaking of math and cryptographic technicians
recorded with Andrew Polstra
last week posted this on Wednesday
if you want to learn more about simplicity
and sort of smart contracting, scripting language trade-offs.
Very technical.
As you predicted, Matt, very few questions asked on my end,
but it was an incredible conversation.
Everyone dive deep on sort of technical scripting language stuff.
I mean, protect Polstra at all costs.
I'm very grateful we have him working on Bitcoin.
I'm looking forward to listening to that.
I also had Liberty Farmer on Sill Dispatch this week.
We had a great conversation about ham radio, Noster, and Bitcoin.
You should check out.
It was a really fun conversation.
That's a rabbit hole that I need to dive down harder.
Should we do that?
Should we do a little side quest where Matt and Marty go get their ham radio licenses?
Yeah, we should do that.
How hard is that?
Isn't it online testing?
If you listen to the show, he said, don't get overwhelmed by it.
You can do it.
It's literally an online test, right?
They started doing online tests after COVID.
I mean, that's for licensing, right?
I think in a lot of parts of the world, particularly if you're dealing with authoritarian governments,
licensing isn't your concern.
But to me, it seems like,
I mean, if you can self-custody of Bitcoin,
you can do this shit.
But it's really, it's fascinating
the intersection of ham, Bitcoin, Noster,
mesh nets.
Like this is all of a sudden you start to get
really robust freedom infrastructure
that's very hard to stop
and just empowers individuals around the world.
I mean you mix in 3D printing
and things get really
really hopeful and optimistic very quickly
well building on that
shout out to the MPUB
I can't see your name yet
Liberty Farmer
there we go 22,000 sats
let's go get them
there we go Liberty Farmer
nice to see that you're listening in
nice to see that we're talking about ham radio
as well
but
And I'd love to get your thought on this because we've talked a lot about these sort of alternative messaging protocol technologies in the past.
We were talking about LoRa and Mesh Networks when the podcast started in like 2018.
And even though the topics we discussed at the top of the show pertain to infringements on individual privacy, both within Bitcoin and just broader freedom of speech in the European Union specifically.
specifically now we have age verification but it does seem like the momentum behind these alternative
protocols is stronger than it has been um and i don't know if that's a necessity is the mother
of invention people feel the pressure and deciding to go full bore or if the sort of awareness of
this is picked up to a critical tipping point where installing in the attention and development of
enough people to actually get some momentum.
Yeah, I mean, I think it's kind of just been a slow grind upwards, but in the positive
direction.
I think the open source ecosystem in general has grown tremendously and has gotten stronger.
So that's something to be very optimistic about.
um i mean i think what's really interesting is how all these different technologies compound on
top of each other um because it's not just one that does everything right you you kind of need
them all to work in tandem um and we're starting to get there we're starting to get close i mean i
liberty farmer told me that he had a bunch of people reach out to him after the show about
getting started with ham and contributing to hamster which is his nostor ham project
um cali has been blown away by bitchat reception uh there's a relatively recent protocol called
reticulum that tries to like bridge a bunch of different communication channels across each other
you know different types of mesh nets and ways of of transmitting together including ham um so
So there's a lot of wins there, but we need to see it all kind of come together in practice and be accessible enough for the common man.
Particularly, I think this is what people don't realize when they hate on NOSTER and say there should be a more complicated option for people instead of NOSTER.
is that the simplicity of Noster
in that it's literally just a protocol
for transmitting hashed and signed messages
mean you can just send it over him.
You can send it over Bluetooth.
You can strap it onto a fucking carrier pigeon
and the other side can type it back into their computer
if they want to.
You can't do that with Blue Sky.
Blue Sky is designed in a world
where they just expect internet
and expect a massive company
to run a centralized server for people.
So I think it's all coming together. And I do think, yes, you're right, though. I mean, without the need, then there's no motivation for people to leave the status quo.
In a perfect world, banks would act ethically and provide really good service and regulators wouldn't stimmy them and we wouldn't need.
And they wouldn't inflate the money supply and dollars would be a good store value and you wouldn't need Bitcoin.
And in a perfect world, we could just have big tech companies providing really fantastic communication infrastructure.
And we can just live very convenient lives and focus on the things that matter.
But that's not the reality either.
So here we are trying to build out alternatives that protect people Well speaking of alternatives that protect people as I not sure if you were watching at all right before we hopped on you had OpenAI do their GPT sort of unveiling
Pretty impressive what they've got going on there.
But as we know, privacy nightmare.
If you're pinging OpenAI's models,
So you're using an open AI account.
You're picking those models.
They're logging all of your chat history.
They know very intimate details if you're sharing them with the models.
And that's actually freaks.
If you're using these models where it's open AI, anthropic, anything.
Grok.
Grok, whatever.
So my mindset, I'm not sure if this is your mindset, Matt.
I should get interested, but I literally use it for a tool when I'm trying to provide.
I don't think I've ever talked with any of these models about my personal life
or asked them advice about something outside of something technical
or informational I was trying to do for the business.
But I'm not sure if you saw the report earlier this week where if you go,
like even if you go and you share, like if you say you're a husband and a wife
and you don't want to go to a marriage counselor god forbid you need to or you think you need to
but people like using chat gbt as a marriage counselor and then if you go like say you do it
as a husband you're like all right i talked to gbt about our problems and then you share with your
wife that share that link with all that chat history it was getting cashed to google um for
seo purposes and so like you had a bunch of people just openly sharing their chat history with google
and that was getting indexed and searchable on Google.
And this is similar to what happened with Meta a few months ago
where people were talking to the chatbot that they had on Facebook, I guess.
And they were sharing it publicly as well, like very intimate details.
I mean, it's a privacy nightmare.
And I think in both of those cases, I mean, maybe not in the Meta case.
In the Meta case, I think it was by design.
But in the ChatGPT case, that was an accident.
Like it wasn't supposed when you press the share link, it wasn't supposed to get indexed by Google.
They fucked that up.
But in either case, these actually big tech companies are they have all of your search history and the LLMs are building profiles on you.
Right. They're they're seeing their deepest, darkest thought processes, every little minutia of your lives.
And they're building profiles on you.
I mean, I've seen people ask, you know, you like ask ChatGPT, it's like, okay, like, what do you know about me?
And the responses are fucking crazy because people are just like unloading their lives into these things.
And so this is why it's incredibly important that not only we have open source models that you can run yourself.
And the news of this week is that OpenAI finally released an open source model.
It's like been dominated.
The open source AI scene has been dominated by Chinese developers, which is crazy.
I mean, Grok, Elon promised to release Grok open source, and he still hasn't released the older versions of Grok open source yet.
So hopefully this starts to create some motivation.
The best American open source model we've had for a while actually came out of Facebook.
It was Lama, and it was quite shitty.
so they released gbt os and it's their open source model it's a little bit behind their
proprietary models but it's now live on maple ai so you can use you can use it in a private way
so with these open source models you can self-host them
there is a piece of software called lm studio that makes it really easy to self-host on your
own computer, but your computer needs to be relatively beefy. And obviously then you can't
access it for mobile, which is what a lot of people like. So that's where something like
Maple sits in the middle, right? Where it tries to offer you a single level privacy guarantee,
like the messenger. But you can use the latest open source models. And they just added GPT,
the new GPT open source. It's fast. It works really well. It's a little bit cucked,
because it came out of OpenAI.
But I mean, all these models are kind of like that.
Like you go to the Chinese models
and you ask them about Tiananmen Square
and they're like,
oh, that never happened.
That doesn't exist.
So I mean, the cool thing about Maple
is that you can choose
which open source model you want
and you can just run different,
you can like run the same question
across multiple ones
and compare and contrast them
all in a private way.
And I will say once you are either self-hosting
or using something like Maple,
it really unlocks a lot of very helpful tools.
Like I've used it to troubleshoot things around the house.
I've used it for random like health questions
that I wouldn't trust most people with,
but I trust their tech stack
and the secure enclaves that they're working with
to keep that confidential.
So it can be very useful.
is you just need to be...
People are leaking so much of their lives
to Sam Altman.
Sam Altman is the guy who's making
the WorldCoin orb scanning bot,
and you're putting your deepest, darkest secrets
into his fucking chat app.
Stop being retarded.
Yeah.
Mark's co-founder of Maple AI and OpenSecret,
he's saying the smaller GBT-OS 20B
runs well on a MacBook.
so yeah bigger is better bigger is better and you can run with maple you can use the 120b one
that's not what she said which is 6x who said that your wife
no not my wife Fred's wife
I mean look we're already we're already if you care about using these things privately and using
these open source models and using them privately, we're already at a disadvantage from the people
using the proprietary models.
And that disadvantage seems like it's going to get bigger and bigger.
So the goal needs to be to close that gap and still make it as convenient as possible.
And that's why Maple is so intriguing to me and so useful for my day-to-day life.
because most of the time I'm using these things,
it's like most of the time I'm using Maple.
It's on mobile.
I'm like out and about in my life.
I need to ask something really quick.
Get a gut check.
Yeah.
And shout out to the Maple team
getting some recognition from Jason Calacanis this week.
He was, I guess he explicitly
on last week's episode of the Rabbit Hole Recap knockoff
described that he wanted
LLMs with end-to-end encryption.
And the Maple team's like, hey, this is exactly what we're building.
Yeah, I mean, in his mind, he was like, I'm going to call my buddy Elon,
and Elon going to add it to Grok Grok has a private mode which is like incognito in your browser Like he still sees everything They just don keep it in your local history And that probably unfortunately fine for most people
I don't know.
I think there's going to have to be massive leaks and compromises
and profiles made of people and thought police and thought crimes
and people getting arrested for things they haven't done yet,
but they're thinking about doing before, uh,
before there's a people really make a move at length.
And I don't think any of the big companies are willing to actually offer that
because they can monetize the data so heavily and they can do like when you run a
business with analytics and you can see how your customers are using things,
it's actually makes it much easier to improve the models and improve your
product and whatnot. Like most,
most founders you talk to that are trying to run, uh,
businesses that respect the privacy of their users will tell you firsthand
that they're running it in hard mode, right?
They have no idea how their users are using the product.
They're kind of guessing.
So it's not fully malicious that they're doing it the way they're doing it,
but people should seek out more private options.
I will say that, I don't know.
every time I listen to All In, I'm like,
why the fuck did I listen to this show?
Yeah.
Last week was the first one I listened to in a while.
I hate
listening to every
episode just to see what they're up to.
I don't want to make them obsolete,
so I feel like it's important to give a listen.
And shout out to the freaks that hate listening to this show
trying to make us obsolete.
I hope you're successful.
Be the change you want to see in the world.
It will never happen. But I was thinking about this exact problem
you're describing, these privacy focused founders
and the context of OpenSecret and Maple AI specifically,
because we were thinking about this for opportunity costs.
Like if we were to build a consumer app,
ideally it would be similar to Maple AI leveraging OpenSecret's
sort of developer toolkit to have everything encrypted
on your secure enclave in the enclave of the cloud.
offer, like, is there a way that you can offer users the ability to opt into, like, once a week
hitting a button to share certain data, and you can, like, somehow, I don't know how you would do
this, but just thinking, like, sort of eliminate it, any PII, and just get, like, pure sort of usage
data to sort of get up their whole rounded picture of the experience that users are having and design
around that. Mark, you're in the chat. I'm sure you've thought about this.
No.
I think any data that's helpful, you can't really
anonymize it. It's like the big thing like, oh, we use
anonymized location data, I feel like is the best example.
What if you ran it through something like ObscureVP? Is there a way to
directly connect to that?
What you do is you make it easy for a user to voluntarily submit a bug report.
Yeah.
So you're not collecting data.
You have no insight into how the user is using the thing.
But if the user runs into a problem, or maybe it's positive feedback too,
they should be able to easily submit a bug report or positive feedback.
and you can go based off of that.
I mean, like in my case, right?
It's like Maple doesn't know how I use their product.
But if I run into something good or run into a problem,
like I just message Tony and Marks and tell them.
That's how they get their analytics.
But if you build it into the app,
then obviously that scales better
than having someone just send you a signal message.
interesting problems
to solve
building on hard mode
not easy
obviously it's hard mode
but
definitely necessary
if you want to preserve
privacy in the digital age
as I was saying
if any of you caught
part of the live stream
of the GBT5
sort of unveiling
it's crazy what it can do
and
I mean
I'll hold my hand up
honestly
like I use
AI in many different ways
like for
business purposes
without putting any sort of extremely critical private information
about the business into the models,
like using it to accomplish tasks is inarguably better than the private options.
And with GPT-5, now seeing what it can do, it's like, holy shit,
this thing is massively impressive.
yeah i mean i think a big unlock will be
adding real-time search um so that you get real-time information but yeah i mean there
there's definitely still a big gap uh there's there's still a big gap and that's that's the real
I mean, I have two major short-term concerns about AI. The first being that LLMs are really good
at weaponizing surveillance, right? They're just really good at sorting through large data sets,
building profiles on people. And it's been a quote-unquote problem that authoritarian
governments have had for a while, which is they have a ton of data, they surveil everything on
their citizens, but they can't actually sift through it and make it quote unquote useful.
And the Palantirs of the world and the open AIs of the world
are making that data way more useful to use against their citizenry.
And then the second piece is this gap between people who choose the convenient, controlled,
surveilled option versus people that are choosing the freedom path. And one of the cool aspects of
Bitcoin on the opposite side is people who choose a freedom path actually are at an advantage to
those that don't. You stack sats and you hold Bitcoin self-custody, you have an advantage over
people that are just buying the S&P 500 or whatever. But in this case, Bitcoin is unique
in that regard. Usually, that's not the case when you talk about these types of trade-off models.
Usually, you give up freedom for convenience and you have an advantage. That's the case with these
AI tools. The gap is going to get really crazy, I think. The more data you upload to them,
the more useful they become. If you upload your whole life to one of these major proprietary
models, it can be way more effective at being, quote unquote, helpful to you in the short term.
I mean, that's what part of the GPT-5 presentation,
there going to be a big focus on health and putting all your health records in and having GPT sort of guide you through uh your health journey and they brought on uh created they brought on a woman who got diagnosed with three different types of cancer
at the same time and she was talking about how she was using gpt-5 to
sort of make a decision on the multiple opinions she got from different doctors
yeah i mean there's definitely like really cool positive uses for it
yeah you see the video going around the guy the blind guy walking to the airport and he's just
holding up his phone and having chat chippy t guide him no but i mean look uh elon's gonna
make it so he can just implant a chip in his brain and then he won't have to hold up his phone
don't get the chip don't get the chip freaks
we have uh rider die freak pedro zap 21 000 sats and i we missed it but ben justman
the bitcoin wine purveyor uh zap 21 000 sats and he says higher higher we're we are going higher we
also have a comment on zap.stream keep talking boys bitcoin is pumping approaching 17 000 right
now. You know what? It's officially a pump.
It's officially a pump now.
Yeah.
Go buy some
Peony Lane.
Peony Lane. Excuse me.
Always mess up the pronunciation
there.
Great wine.
Last on the list.
Primal version.
iOS version 2.3.
0.56 has been released.
Smoother feed rendering, improved
spread, reply UX,
improved connectivity, and improved wallet
UX. As always,
please let us know if you
run into any issues. That's Marco from the
Primal team there.
Yeah, we're just going to keep
shipping. Can't stop, won't stop.
Lots of work to be done.
You can download Primal in
your favorite app store.
Yeah.
Join us.
Send us your feedback.
It is much faster.
I downloaded it earlier this week.
The rendering is certainly faster.
Yeah, it's getting pretty smooth.
Pretty quiet week.
We got through a lot, though.
Summer.
And the big thing is the tornado cache ruling.
Yeah.
Everything else is, we were already live, might as well chat through it all with you freaks.
Do we have any Bitcoin treasury company updates that we want to make everybody aware of?
No.
Do you?
No.
Yeah, I got nothing on that front.
It is, oh, I guess we talked about the earnings last week of MSTR.
Not only was their earnings beat priced in, but it completely dumped on the news.
It was like a classic sell the news situation.
But it seems like it's almost back to where it was previously.
But yeah.
It's under $400.
So $401, right?
Oh, $399.
Where was it last week?
What were we, Thursday?
It was like around the same, right?
It was...
Yeah, roughly.
It was like low single digits, 400.
Yeah, it was at 404.
That was 31st.
409.
He did notably say that...
They don't want to issue any more coming.
Yeah, they're going to stop selling common stock, the MSTR stock, unless it's over 2.5x.
So unless it's over 2.5 MNAV, they start leaning into those preferreds that they have, which is really what differentiates them.
I mean, besides the fact that their stock is fucking massive, they're basically building a yield curve of these preferred equities.
that gives them a lot of options in terms of fundraising to buy Bitcoin
that should benefit the common shareholders.
And it should be interesting to watch how that plays out.
But self-custody Bitcoin is a superpower.
Nothing beats self-custody Bitcoin.
If you are going to speculate on these things,
you should build a stack of self-custody Bitcoin first.
put the proverbial mask over your face before.
I guess the mask, no one wants to wear masks anymore.
Mask is bad.
Protect yourself first before you take on additional risk.
That is trying to outperform Bitcoin by buying MSTR, another stock.
Yeah.
Zoomer sats app
2100 sats
not the threshold
for reading this out
but since you're
the Zoomer friend
of the show
I'll read your comment
when does the Zoomer series
resume
should we get it back in
do we have any good
Zoomers out there
we need
what
we should get Moses on
who built the opportunity
cost app
yeah
we'll bring him on
next week
or the week after
probably the week after
traveling
we gotta figure out
next week
what's going on
I'll be traveling
but
Oh, I'm traveling the week after.
Okay, we'll make it happen next week at some point.
We'll figure it out.
We'll bring it...
I like the idea of just bringing on guests in general.
We'll bring on Ride or Die Freaks only occasionally
onto the show to spice it up of varying ages.
It doesn't have to just be Zoomers.
The main reason we did the Zoomers series
was because Marty was really shitting on Zoomers.
He goes through phases.
I take back what I said, too.
Seth technically isn't even a Zoomer.
He's like a young...
There was many such cases of questionable Zoomers that joined their Zoomer series.
A lot of them were on the top end.
But he's an honorary Zoomer.
All right.
Pump is official.
Over 117,000 going to all-time highs by the end of the weekend.
You heard it here first, Freaks.
Wow.
Really, Marty?
Dump.
I had to do it.
You know, I need to stack some cheap sets.
You can't have to run away from this.
show you start with the show by giving me shit for saying a little pumpage makes the mornings
better and then you end the show by saying all-time highs by the end of the weekend well
i'll reiterate what you said earlier it's we're seven years in you don't know how this works yet
fair enough fair enough we've got some military helicopters flying over up they're on to you
great rip love you all stay humble stack sets peace and love okay