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I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins.

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In the world of fiat currencies, Bitcoin is the victor.

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I mean, that's part of the bull case for Bitcoin.

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If you're not paying attention, you probably should be.

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Call your neighbors, call your friends.

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I'm going to switch over from Squawk Box.

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Rabbit Hole Recap is here to compete at the 630.

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Sorry, Becky.

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Becky, quick. We're coming for that ass, girl.

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What did I tell her?

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If she donates to OpenStats, we'll stop competing with her.

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Yes.

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I just realized, by the way, Marty,

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that I forgot to tell the freaks when we were going live.

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That's on me.

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Hand up.

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Hand up.

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We're Gold Podcast now.

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The price of gold is $4,114 pound drill price.

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Are you going to read it?

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Are you going to read it every episode now?

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What is it in Bitcoin terms?

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In Bitcoin terms?

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Ooh, I just had this chart up.

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Jokes aside, I think that's actually probably one of the most important metrics

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is Bitcoin price in gold.

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Because we haven't hit an all-time yet.

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We're not in a bull market until we pass the all-time high gold price.

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We bounced off a low, currently sitting at 26.59 ounces of gold per Bitcoin.

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Fell as low as 25.53.

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It's pretty crazy you can get 26 ounces of gold for Bitcoin.

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Yeah, that's a lot of gold.

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Imagine being bearish on that.

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Can you even fit that much in pockets?

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How big is that?

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I don't know.

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This is 8 grams.

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How many grams in an ounce?

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How many grams in an ounce?

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16?

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No, 16 ounces in a pound.

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I was doing lead math.

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How many grams?

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I have no idea.

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Ask Maple.

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I think it's like 30-something.

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How many grams in an ounce?

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28.34.

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So what does that mean?

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This is like almost a quarter of an ounce

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or a little over a quarter of an ounce.

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So four of these times 24.

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So 100 of those.

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A hundred of those rings?

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I don't think you can fit in your pocket.

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It's a hundred of those rings.

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Imagine being bearish on that.

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That's pretty crazy.

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Can you hold up the ring for scale again?

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Bitcoin's currently a hundred of these.

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Nice.

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Yeah, pretty nice.

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That's pretty good.

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I'm pretty happy with that.

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But unfortunately for us,

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Bitcoin was created by the CIA.

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Our good friend Tucker Carlson.

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I love how after Tucker said that, he was literally like,

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by the way, I was created by the CIA.

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That's kind of what he said.

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He was like, my dad was the CIA, and his dad was half his gene pool.

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Yeah.

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He was literally at least half created by the CIA.

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I think he was trolling somebody earlier.

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I saw some clips from that event.

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Beyond the gold clip, he got triggered when somebody referenced

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referenced the fact that his dad was in the CIA

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and alluded to Tucker being deep state.

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Well, the really, I mean, Tucker's done, like,

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there's a bit of a love-hate relationship there with me and Tucker.

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But, because he's done a lot of good shit.

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But also...

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I'm overwhelmed with Tucker, but we do have our qualms.

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Well, I disagree.

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I'm definitely not overwhelmingly positive,

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but three months

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I mean, what, three months ago, he was like

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yeah, I just found out that my dad

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was in the CIA. It's like he's been

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on the record saying his dad was in the CIA

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way before that.

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Yeah. I think it was

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this Candace Owens interview he said that.

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Mm-hmm.

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And then

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of course, he's just

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constantly shilling telegram and flooding

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signal.

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Which his brother

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Elon was also doing.

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this week, even though his encrypted chat app

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is not open source and encrypted, quote unquote,

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encrypted by a four-digit PIN that most people are probably doing like 1-1-1-1-4.

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Well, let's jump in.

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Let's start with the gold Tucker CIA

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Bitcoin thing. I mean, it is

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I think it is important FUD to break because it's not the only person

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of relative prominence

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that is out there

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saying this is the fact

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that the NSA or the CIA created Bitcoin.

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Catherine Austin Fitz, who's big

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in

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World Economic Forum,

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Great Reset circles,

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conspiracy circles, for lack

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of a better term.

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There are many

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others that I've run into that have said

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it's the CIA behind the scenes

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or the NSA.

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I mean, we've been hearing this for decades.

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Well, not decades, but since Bitcoin began.

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Yes.

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I remember it's one of the first pieces of quote-unquote FUD that I heard

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when I was investigating Bitcoin, what, 12 years ago?

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Yes.

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And Parker and I actually, earlier this year,

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when Tucker started running with this line publicly,

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had a conversation.

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We actually recorded a podcast about it.

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It's like, okay, let's run with the assumption that the CIA,

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the NSA, the deep state, whoever,

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let's assume that they did.

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Could you still have confidence that Bitcoin is what it is?

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And I tweeted this out last night. Even if the CIA did

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create Bitcoin, anyone who was so driven and or capable

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can audit the code to determine whether it does what it's supposed to do.

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The whole point is we don't have to trust the creator,

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first of all. And then second of all, I think even a more interesting conclusion is so then you say

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like, oh, okay, you don't have to trust the creator, but maybe the creator, it's alleged or

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believed that the creator has maybe a million coin that's just sitting there that could be dumped on

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the market. I mean, I would go to argue that probably historically and continues to be the

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biggest threat to Bitcoin is the American

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deep state and affiliated entities. So if they have a direct incentive

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to see Bitcoin win, that's bullish as fuck. It's the most bullish conspiracy theory ever.

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Yes.

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It's a ridiculous reason not to own Bitcoin. It's like, oh yeah, well the people

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in charge created it and have a massive incentive to see it succeed, so

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that's why I don't own it. It's retarded.

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well tucker during that clip at the tp usa event he was saying well they're they're using it to

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funnel us into this uh digital panopticon cbdc world and that's the weird this is where this

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argument really loses teeth because they equate bitcoin to a hyper controllable cbdc surveillance

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coin and i think that's they basically use the transparent ledger and the chain heuristics that

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can be used to follow utxos to determine try to determine to guess who owns what bitcoin and they

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really latch on to that and say this is how the government's going to control you they're going to

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be able to see everything you do and as we know we've been discussing for years yes this is almost

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this is a half truth yes this is the case if you use bitcoin flippantly and unintentionally

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not unintentionally but uh without the intention of using it privately by using the tools that

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exist whether it's coin join pay join which is a form of coin join um basically using new addresses

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using bitcoin in a in a way that preserves your privacy it is easier for people to try to figure

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out which addresses you own, how much Bitcoin you have.

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But just because it is possible

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doesn't mean that the government's going to know exactly

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who was what, where, when.

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I think there's a better argument that

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USD tokens, people call them stablecoins,

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are quasi-CBDCs

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or private bank digital currencies, PBDCs, if you will.

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and I think

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there's a tendency by people

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including Tucker to conflate

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broader crypto with Bitcoin

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and it's probably more like that

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I don't think Tucker's gone deep

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on the probability analysis

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surveillance tools that are used on Bitcoin

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and the different tools that people can use

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Bitcoin with

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to use it as freedom money

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it's probably more

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of a

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he's directionally correct on that

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Right? Like USD tokens that are operating on blockchains provide the state and affiliated corporate entities a ton of control over people's lives. And it is something that we should push back against. I think the creator, regardless of who you think the creator is, is kind of irrelevant to that.

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I see Soap Miner, our favorite soap maker, zapped us 21,000 sats in the Prime Alive chat.

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He said, good morning, freaks. Soap Miner accepts CIA PSYOP sats.

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And that's a perfect example, right?

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He zapped us 21,000 sats, which is about $21, grew lightning.

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And I have no idea.

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We have no idea what UTXO funded that transaction.

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We have no idea how much money he has.

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We have no idea his transaction history.

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that's incredibly powerful

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no other

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protocol allows for that

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at scale

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he only accepts

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CIA PSYOPs ads

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he only accepts that

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period

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did you see his new ad

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that his wife did

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I thought that was AI

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no that's his wife

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is that really

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Logan go to primal.net

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slash Odell

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it's one of my recent retweets

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let's let's play the clip

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oh this is not the one i are you seriously still using chemical filled commercial soap

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00:13:15,660 --> 00:13:20,640
let's change that now soap miners soap lets you ditch chemical laden brands and choose a smarter

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00:13:20,640 --> 00:13:25,480
value-driven clean while mainstream brands poison their products with synthetic detergents

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parabens, and unpronounceable chemicals, Soap Miner brings you pure tallow soap your ancestors

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trusted. The base layer of our soap is just three ingredients. Grass-fed beef tallow, lye, water.

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That's it. The scents come from pure essential oils and the color from natural clays. Everything

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natural and pure. These bars cleanse without stripping your skin, moisturizing naturally

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while commercial soaps leave you dry and irritated. We handcraft every bar using time-tested methods,

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zero synthetic garbage, zero toxic chemicals, zero mystery ingredients seeping into your body.

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One bar will last a month while commercial soap dissolves after days because real ingredients

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00:14:02,320 --> 00:14:06,920
have staying power. We demand Bitcoin because we recognize true value just like you do.

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Stack quality soap like you stack sats. Get Soap Miner's Tallow Soap today. We only accept Bitcoin.

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Soapminer.com.

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It's a beautiful thing. I used this morning to shave my face.

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I haven't showered yet. I will shower

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after this

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and

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use the soap to

249
00:14:29,200 --> 00:14:30,920
wash my soap.

250
00:14:30,920 --> 00:14:31,860
I already showered today.

251
00:14:32,760 --> 00:14:35,080
I traveled with the bar of soap minor.

252
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We have

253
00:14:36,240 --> 00:14:38,940
Matt21, Zap21000Sassy says,

254
00:14:38,940 --> 00:14:40,160
Good morning. Great soap.

255
00:14:46,900 --> 00:14:48,460
I'm sending a tweet out right now.

256
00:14:49,600 --> 00:14:50,080
Why?

257
00:14:50,600 --> 00:14:52,920
to let people know that we're on air.

258
00:14:53,160 --> 00:14:54,160
People are waking up,

259
00:14:54,260 --> 00:14:57,400
and to let Squawk Box know that we're competing with them.

260
00:14:58,180 --> 00:14:59,700
Well, it's live on X, right?

261
00:14:59,760 --> 00:15:02,720
Did you tag Joe?

262
00:15:03,460 --> 00:15:03,940
I did.

263
00:15:04,380 --> 00:15:04,820
I did.

264
00:15:06,900 --> 00:15:09,040
He's live on Squawk Box right now,

265
00:15:09,080 --> 00:15:10,220
checking his notifications,

266
00:15:10,540 --> 00:15:13,100
shivering in fear that he has a new competitor

267
00:15:13,100 --> 00:15:15,080
at this hour.

268
00:15:17,680 --> 00:15:19,880
But let's continue the thread, Tucker.

269
00:15:20,600 --> 00:15:23,940
Bitcoin's a CIA creation.

270
00:15:24,780 --> 00:15:25,520
No, seriously, though.

271
00:15:26,120 --> 00:15:27,240
Yeah, yeah, yeah.

272
00:15:27,240 --> 00:15:28,000
Sorry, sorry.

273
00:15:28,520 --> 00:15:29,520
Elon's madly complete.

274
00:15:29,580 --> 00:15:54,430
I threw us on a ridiculous tangent I apologize Freaks and Martin Continue He been on a complete propaganda tear with this ex chat It is a bit disgusting I think earlier this week when AWS went down AWS East proved that centralized third parties are security holes number one was affected by this

275
00:15:55,050 --> 00:15:58,550
Many other services were affected by this.

276
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I was recording a podcast on Riverside.

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Monday afternoon and had to stop and reschedule it for yesterday

278
00:16:05,170 --> 00:16:06,850
because Riverside...

279
00:16:06,850 --> 00:16:07,850
AWS went down?

280
00:16:08,770 --> 00:16:09,390
On AWS.

281
00:16:09,930 --> 00:16:12,530
We could not even record during it.

282
00:16:12,710 --> 00:16:16,770
That was actually an illuminating moment of how dependent a lot of systems are.

283
00:16:17,590 --> 00:16:22,230
On AWS, Signal being one of them, Elon, and many others,

284
00:16:22,230 --> 00:16:29,110
Onyx took the opportunity to sort of throw shade towards Signal.

285
00:16:29,110 --> 00:16:34,110
I mean, it was more than shade. It was pretty aggressive posting.

286
00:16:35,490 --> 00:16:35,750
Yes.

287
00:16:37,550 --> 00:16:39,970
Can we trust XChat?

288
00:16:41,290 --> 00:16:50,910
Well, first of all, Primal didn't go down and Strike didn't go down, which I was pretty proud of.

289
00:16:51,050 --> 00:16:54,750
Both centralized, but pretty impressive.

290
00:16:54,750 --> 00:16:59,570
Obviously, Bitcoin didn't go down and Nostra didn't go down, which are decentralized by design.

291
00:16:59,570 --> 00:17:06,330
I think a lot of people threw some shade that I think it was 30% of Lightning nodes run on AWS.

292
00:17:07,170 --> 00:17:11,490
The thing we should be proud of, Freaks, is that 70% of Lightning nodes do not run on AWS.

293
00:17:12,610 --> 00:17:14,190
Flip the script. Flip the narrative.

294
00:17:15,170 --> 00:17:21,490
I do think that Elon deserves a lot of credit, that he self-hosts all of his stack.

295
00:17:21,490 --> 00:17:30,530
right like he's just got like gigantic uh surfer farms uh that hosts all his shit including x

296
00:17:30,530 --> 00:17:39,850
um so it's pretty cool that when half the internet goes down uh x doesn't go down right i think uh

297
00:17:39,850 --> 00:17:45,290
that's an important service uh for the world that you're still able to communicate through x

298
00:17:46,030 --> 00:17:54,390
All that said, look, the way Signal's designed is that you're not trusting the server provider.

299
00:17:55,110 --> 00:17:59,430
And this means that Signal's able to operate without hosting their own servers.

300
00:17:59,870 --> 00:18:04,490
And they can use a variety of large server operators.

301
00:18:05,170 --> 00:18:08,730
You know, AWS being the big one, but you also have Microsoft with Azure.

302
00:18:09,930 --> 00:18:12,850
And to a lesser extent, you have Hetzner in Germany.

303
00:18:12,850 --> 00:18:17,610
now they clearly did not handle their

304
00:18:17,610 --> 00:18:22,790
failover right. They should be hosting on multiple

305
00:18:22,790 --> 00:18:26,430
of them. But I think the important thing to realize here is

306
00:18:26,430 --> 00:18:30,950
what happened was a denial of service. You didn't have access

307
00:18:30,950 --> 00:18:34,970
to Signal, which sucks. A majority

308
00:18:34,970 --> 00:18:38,070
of my life runs through Signal in terms of

309
00:18:38,070 --> 00:18:41,810
projects that I operate on and on family stuff.

310
00:18:42,230 --> 00:18:44,550
And I just wasn't able to send messages, make calls,

311
00:18:44,650 --> 00:18:48,050
stuff like that for three hours, which is pretty lame.

312
00:18:49,330 --> 00:18:52,270
But it doesn't actually affect the security and privacy

313
00:18:52,270 --> 00:18:53,530
of the Signal Protocol.

314
00:18:54,190 --> 00:18:58,770
The whole design is that both message content and metadata

315
00:18:58,770 --> 00:19:01,050
does not leak to the server operator.

316
00:19:01,410 --> 00:19:02,550
That's how it's built.

317
00:19:03,370 --> 00:19:05,090
That's how these things should be built

318
00:19:05,090 --> 00:19:06,670
if privacy and security is important.

319
00:19:08,070 --> 00:19:25,950
Then the second piece is, I think it's great to see an encrypted version of DMs on X. This is something that has been desired for a long time. What most people don't realize is part of the reason Signal even exists is because first it was text secure.

320
00:19:25,950 --> 00:19:28,690
and Jack, when he was running Twitter,

321
00:19:28,890 --> 00:19:31,990
acquired it and acquired the team, including Moxie,

322
00:19:32,610 --> 00:19:34,430
and wanted to add encrypted DMs

323
00:19:34,430 --> 00:19:36,090
and never added encrypted DMs.

324
00:19:36,490 --> 00:19:37,630
Who knows why?

325
00:19:37,810 --> 00:19:39,550
Maybe it was technical reasons,

326
00:19:39,690 --> 00:19:40,710
maybe it was political pressure,

327
00:19:40,710 --> 00:19:42,450
but he never added encrypted DMs.

328
00:19:44,210 --> 00:19:48,490
And he then spun it out as an open source project.

329
00:19:49,470 --> 00:19:54,050
Even though Twitter owned the intellectual property

330
00:19:54,050 --> 00:19:55,110
that became Signal,

331
00:19:55,610 --> 00:19:57,410
They spun it out for a common good.

332
00:19:57,870 --> 00:19:59,890
And then we ended up having the Signal Foundation

333
00:19:59,890 --> 00:20:02,250
and ended up having this nonprofit, Good for the World,

334
00:20:02,370 --> 00:20:03,770
which is pretty fucking cool.

335
00:20:04,170 --> 00:20:06,910
I think Dorsey actually does not get enough credit

336
00:20:06,910 --> 00:20:09,510
for the success that Signal has become.

337
00:20:09,930 --> 00:20:12,470
Because if you follow just direct economic incentives,

338
00:20:12,950 --> 00:20:16,590
there is no good reason for him to release Moxie

339
00:20:16,590 --> 00:20:20,130
and the code out to the public after he failed to implement it.

340
00:20:20,190 --> 00:20:22,070
But anyway, all that said, Elon deserves credit

341
00:20:22,070 --> 00:20:23,990
for finally adding encrypted DMs.

342
00:20:25,110 --> 00:20:26,290
into X.

343
00:20:27,170 --> 00:20:29,550
It's strictly better than regular DMs.

344
00:20:29,610 --> 00:20:33,490
Regular DMs like Elon and all the employees,

345
00:20:33,650 --> 00:20:36,150
a lot of employees at X can just read them on demand

346
00:20:36,150 --> 00:20:38,750
in your full history of all your DMs.

347
00:20:39,190 --> 00:20:40,970
I think people don't really appreciate

348
00:20:40,970 --> 00:20:44,390
how crazily dystopian that is.

349
00:20:46,050 --> 00:20:49,350
And so XChat, their encrypted alternative to DMs

350
00:20:49,350 --> 00:20:51,530
is strictly better than that.

351
00:20:52,170 --> 00:20:52,990
But at the end of the day,

352
00:20:52,990 --> 00:20:56,650
First of all, not open source, so we can't verify any claims.

353
00:20:57,590 --> 00:20:59,970
I think at a bare minimum, it should be source viewable.

354
00:21:01,030 --> 00:21:05,270
So maybe you can't fork it and monetize it, but at least be able to verify what's running.

355
00:21:06,130 --> 00:21:06,890
That's key.

356
00:21:07,670 --> 00:21:10,290
And then second of all, it operates on a four-digit PIN,

357
00:21:11,570 --> 00:21:14,750
which even if you pick a quote-unquote secure four-digit PIN,

358
00:21:15,330 --> 00:21:16,750
it's trivial to brute force.

359
00:21:16,750 --> 00:21:20,610
Once again, as we said, Elon is running all his own servers,

360
00:21:20,610 --> 00:21:22,890
including huge AI data farms.

361
00:21:23,850 --> 00:21:26,810
He can brute force that shit probably

362
00:21:26,810 --> 00:21:31,410
in less than a day to get access to your messages.

363
00:21:32,750 --> 00:21:35,390
And people don't pick secure pins.

364
00:21:36,190 --> 00:21:39,030
Maybe it's their birthday that they've already told X

365
00:21:39,030 --> 00:21:40,130
when their birthday is.

366
00:21:40,370 --> 00:21:45,130
Maybe it's 1212, but they don't pick secure pins.

367
00:21:45,130 --> 00:21:46,430
Class for their phone number.

368
00:21:47,670 --> 00:21:50,290
Yeah, and I will say that this is a hard problem to solve.

369
00:21:50,610 --> 00:21:55,390
which is why it's like trade-offs all the way down.

370
00:21:55,490 --> 00:21:56,830
No solutions, only trade-offs.

371
00:21:56,950 --> 00:21:59,010
But I think Signal makes the best trade-off balance

372
00:21:59,010 --> 00:21:59,970
in how they handle it,

373
00:22:00,750 --> 00:22:04,310
which is if you reinitialize Signal on a different device,

374
00:22:04,310 --> 00:22:05,390
you just lose all your messages.

375
00:22:06,410 --> 00:22:08,870
You can't get access to those messages.

376
00:22:10,050 --> 00:22:12,230
And this is also where people say

377
00:22:12,230 --> 00:22:15,710
the phone number dependency on Signal is questionable.

378
00:22:15,930 --> 00:22:18,550
Well, they're trying to make a reasonably secure,

379
00:22:18,550 --> 00:22:22,870
user-friendly messenger, which is very difficult to do.

380
00:22:23,810 --> 00:22:26,590
And that's part of the reason why they use the phone number requirement.

381
00:22:26,590 --> 00:22:29,390
Even though the phone number isn't doxed to people you contact,

382
00:22:30,190 --> 00:22:32,690
it's used as spam mitigation and user authentication.

383
00:22:35,890 --> 00:22:37,330
It's nuanced, right?

384
00:22:37,470 --> 00:22:41,570
But for Elon to go out there and be like,

385
00:22:42,110 --> 00:22:45,870
Signal's insecure because AWS is down, he knows exactly what he's doing.

386
00:22:46,370 --> 00:22:47,290
He's a smart guy.

387
00:22:47,290 --> 00:22:49,670
he's incredibly intelligent

388
00:22:49,670 --> 00:22:52,430
he's one of the best executors on the planet

389
00:22:52,430 --> 00:22:55,270
he builds multi-billion dollar businesses

390
00:22:55,270 --> 00:22:56,110
like it's lunch

391
00:22:56,110 --> 00:22:59,110
and he knows exactly what he's doing

392
00:22:59,110 --> 00:23:00,930
I mean I think that's a red flag

393
00:23:00,930 --> 00:23:02,230
I think that's a red flag

394
00:23:02,230 --> 00:23:05,050
and it's disappointing to see

395
00:23:05,050 --> 00:23:07,570
just as it was disappointing to see

396
00:23:07,570 --> 00:23:11,250
Tucker Fudd signal for an inferior solution

397
00:23:11,250 --> 00:23:12,030
in Telegram

398
00:23:12,030 --> 00:23:15,350
because I know Tucker knows what he's doing

399
00:23:15,350 --> 00:23:17,590
And I know Elon knows what he's doing here.

400
00:23:18,050 --> 00:23:20,030
So it's a little bit more of the same on that front.

401
00:23:20,770 --> 00:23:21,870
But anyway, those are my thoughts.

402
00:23:22,810 --> 00:23:31,270
A masterclass in newsjacking is what Elon displayed on Monday when AWS went down.

403
00:23:31,710 --> 00:23:42,210
But to your point, I don't think anybody should run with the assumption that XChat is NTED encrypted until there is at least source viewable code.

404
00:23:42,490 --> 00:23:44,030
No, it's better than DMs though.

405
00:23:44,030 --> 00:23:46,410
you can treat it as better than DMs

406
00:23:46,410 --> 00:23:48,330
I wouldn't treat it as secure comms

407
00:23:48,330 --> 00:23:50,510
or the other

408
00:23:50,510 --> 00:23:51,690
piece by the way is

409
00:23:51,690 --> 00:23:54,230
it's absolutely ridiculous

410
00:23:54,230 --> 00:23:56,670
that Amazon going down

411
00:23:56,670 --> 00:23:58,490
stops your

412
00:23:58,490 --> 00:23:59,570
communication method

413
00:23:59,570 --> 00:24:01,890
I'm not

414
00:24:01,890 --> 00:24:03,690
bailing out signal here

415
00:24:03,690 --> 00:24:05,890
they should make that shit more resilient

416
00:24:05,890 --> 00:24:07,630
and I'm hoping

417
00:24:07,630 --> 00:24:10,310
first of all there's a bunch of alternatives that are more resilient

418
00:24:10,310 --> 00:24:12,430
including simple acts

419
00:24:12,430 --> 00:24:15,450
which has some reliability issues

420
00:24:15,450 --> 00:24:19,630
which stops me from using it as my daily driver right now.

421
00:24:20,430 --> 00:24:22,790
But you can pick your own server and you can host your own server

422
00:24:22,790 --> 00:24:24,630
which makes it more resilient.

423
00:24:25,690 --> 00:24:28,690
Keat, which is not open source

424
00:24:28,690 --> 00:24:32,230
which is an issue and I'm hoping they open source it soon

425
00:24:32,230 --> 00:24:34,730
but it's cool because it doesn't require any server whatsoever.

426
00:24:34,930 --> 00:24:37,810
It's purely P2P. The problem there is it docks

427
00:24:37,810 --> 00:24:40,810
your IP address so people should just be aware you can use it with a VPN

428
00:24:40,810 --> 00:24:42,650
if you don't want to talk to your IP address,

429
00:24:42,750 --> 00:24:44,150
but I'd like to see them be open source.

430
00:24:44,650 --> 00:24:45,670
And then finally, White Noise,

431
00:24:45,770 --> 00:24:47,690
which is trying to build a signal on top of Nostra,

432
00:24:48,650 --> 00:24:50,510
which uses the global relay network,

433
00:24:51,050 --> 00:24:53,110
which once again, the Nostra relay network

434
00:24:53,110 --> 00:24:55,370
is kind of similar to Lightning Notes, right?

435
00:24:56,010 --> 00:24:58,770
Like I think people can FUD the Nostra relay network

436
00:24:58,770 --> 00:25:00,830
and say 30% are run on AWS.

437
00:25:02,490 --> 00:25:05,830
But I think the cool part is 70% aren't, right?

438
00:25:05,830 --> 00:25:07,770
And there's a bunch of Nostra relays

439
00:25:07,770 --> 00:25:08,990
that aren't run on AWS.

440
00:25:08,990 --> 00:25:10,990
and if you're running a smaller

441
00:25:10,990 --> 00:25:12,750
Nostra Relay, you can self-host it

442
00:25:12,750 --> 00:25:14,830
relatively easily.

443
00:25:15,590 --> 00:25:17,130
So I think we have

444
00:25:17,130 --> 00:25:19,350
better solutions available to us

445
00:25:19,350 --> 00:25:21,790
in a situation

446
00:25:21,790 --> 00:25:23,090
where we don't have Amazon

447
00:25:23,090 --> 00:25:25,070
and NSA and stuff trying to stop

448
00:25:25,070 --> 00:25:26,130
Signal. Signal works.

449
00:25:27,130 --> 00:25:29,070
But it was never designed in the threat

450
00:25:29,070 --> 00:25:31,090
model of denial of service from

451
00:25:31,090 --> 00:25:33,130
major corporations combined

452
00:25:33,130 --> 00:25:35,170
with the U.S. government. The U.S. government

453
00:25:35,170 --> 00:25:37,210
wants to stop Signal messages from happening.

454
00:25:37,990 --> 00:25:39,970
They can't necessarily read them,

455
00:25:40,050 --> 00:25:41,990
but they can stop those messages from happening.

456
00:25:42,150 --> 00:25:45,250
And we need to have better solutions available to people, I think.

457
00:25:46,250 --> 00:25:46,850
Agreed.

458
00:25:47,630 --> 00:25:52,450
Funny to note, this was AWS East,

459
00:25:52,650 --> 00:25:55,710
is the block of servers that went down.

460
00:25:55,710 --> 00:26:01,010
And it seems like many systems are highly dependent on this.

461
00:26:01,010 --> 00:26:07,470
the CEO of the AWS or the leader of the AWS unit within Amazon

462
00:26:07,470 --> 00:26:09,670
came out only a couple weeks ago

463
00:26:09,670 --> 00:26:13,370
and announced that 90% of the code for AWS

464
00:26:13,370 --> 00:26:16,170
was being generated by artificial intelligence.

465
00:26:16,170 --> 00:26:22,170
So it seems like the LLMs may not be as foolproof

466
00:26:22,770 --> 00:26:28,610
as many MAG-7 tech execs would like us to believe.

467
00:26:28,610 --> 00:26:31,030
Who knows if this was the exact cause of it.

468
00:26:31,170 --> 00:26:34,210
I just thought it was pretty funny that he came out and announced this in the head.

469
00:26:35,070 --> 00:26:38,430
One of the biggest outages that they've had in recent years.

470
00:26:39,210 --> 00:26:40,450
It's a weird flex.

471
00:26:41,130 --> 00:26:42,610
I don't really understand that flex.

472
00:26:42,930 --> 00:26:44,430
Coinbase did something similar.

473
00:26:44,750 --> 00:26:46,990
Brian Armstrong came out with that kind of flex.

474
00:26:48,190 --> 00:26:50,690
I don't think it's really something you should be proud of

475
00:26:50,690 --> 00:26:53,650
if you're hosting mission-critical infrastructure.

476
00:26:53,650 --> 00:26:56,370
but hopefully we see Amazon

477
00:26:56,370 --> 00:26:58,250
give us a real

478
00:26:58,250 --> 00:26:59,730
debrief of what happened here

479
00:26:59,730 --> 00:27:02,130
but I would say

480
00:27:02,130 --> 00:27:04,270
to actual operators, if you're running

481
00:27:04,270 --> 00:27:06,610
a service, you should have failover situations

482
00:27:06,610 --> 00:27:08,130
it's one thing if you're hosting

483
00:27:08,130 --> 00:27:10,070
on big tech servers

484
00:27:10,070 --> 00:27:10,450
but

485
00:27:10,450 --> 00:27:14,210
you should be able to gracefully fall over

486
00:27:14,210 --> 00:27:15,810
to servers hosted by someone else

487
00:27:15,810 --> 00:27:18,230
or at least somewhere else

488
00:27:18,230 --> 00:27:19,530
in the AWS ecosystem

489
00:27:19,530 --> 00:27:21,170
not US East

490
00:27:21,170 --> 00:27:22,970
if US East fails

491
00:27:22,970 --> 00:27:27,770
I don't think there's been an official post-mortem on it,

492
00:27:27,830 --> 00:27:32,110
but there were many people on X saying that AWS suffered a massive outage,

493
00:27:32,630 --> 00:27:38,090
apparently caused by DynamoDB experiencing a DNS resolution failure

494
00:27:38,090 --> 00:27:42,210
and causing a total failure cascade in US-East 1.

495
00:27:43,710 --> 00:27:50,490
So it looks like a database dependency and a DNS resolution failure.

496
00:27:50,490 --> 00:27:57,370
Yeah, I will say Primal, for instance, does not use AWS, period.

497
00:27:58,170 --> 00:28:01,350
But we're not self-hosting yet, so we'll start self-hosting pretty soon.

498
00:28:02,390 --> 00:28:07,130
But then also the beautiful thing is that you can run your own caching server.

499
00:28:07,750 --> 00:28:10,010
You can run your own Primal backend if you want.

500
00:28:10,670 --> 00:28:13,550
And be independent and easily switch between it and the UI.

501
00:28:14,190 --> 00:28:16,510
I see Mark C. zapped his 21,000 stats.

502
00:28:16,510 --> 00:28:20,950
He said, just got the baby down for his morning nap and see our HR morning rip.

503
00:28:21,110 --> 00:28:22,370
What a great start to the day.

504
00:28:23,430 --> 00:28:24,710
Shout out to Paul Lacks.

505
00:28:25,790 --> 00:28:27,470
Is that the hat you're wearing?

506
00:28:28,570 --> 00:28:31,570
No, this is Pub Key.

507
00:28:32,530 --> 00:28:33,630
He just knows your lore.

508
00:28:34,670 --> 00:28:44,210
I am a DePaul alumni, and I was the head coach at DePaul's men's lacrosse team, our club team, my sophomore through senior year.

509
00:28:44,210 --> 00:28:50,250
And we went to the Nationals my senior year.

510
00:28:50,590 --> 00:28:53,950
We won our conference, went to Nationals.

511
00:28:54,070 --> 00:28:54,910
I was the head coach.

512
00:28:55,770 --> 00:28:58,350
I'd suffered my sixth concussion my freshman year.

513
00:28:58,930 --> 00:29:01,870
Hung up the cleats, hung up the stick, put on the whistle,

514
00:29:02,910 --> 00:29:03,890
and led the men to glory.

515
00:29:05,190 --> 00:29:11,810
We went from 2-10 to, I believe we went 10-3 our senior year.

516
00:29:12,050 --> 00:29:13,430
Went to Nationals, won our conference.

517
00:29:13,430 --> 00:29:17,690
It was a beautiful thing. Shout out to you, Mark C., for knowing that DPU lacks lore.

518
00:29:20,290 --> 00:29:21,070
I'm proud of you, Marty.

519
00:29:23,490 --> 00:29:27,890
But this isn't a lacrosse podcast. It's a Bitcoin podcast.

520
00:29:28,930 --> 00:29:31,170
Did you see what was happening at the Federal Reserve this week?

521
00:29:32,290 --> 00:29:36,430
It's a gold podcast. No, probably not.

522
00:29:37,350 --> 00:29:41,690
There was a teach-in with many people from the crypto industry.

523
00:29:41,690 --> 00:29:47,190
basically a day-long event i think i watched like two hours of it

524
00:29:47,190 --> 00:29:52,670
was actually pretty interesting the fact that the federal reserve was open to

525
00:29:52,670 --> 00:29:59,270
industry quote-unquote industry leaders it wasn't there was no bitcoin people there

526
00:29:59,270 --> 00:30:06,230
outside maybe the ceo of fireblocks who took some time to explain multi-sig and how you can

527
00:30:06,230 --> 00:30:11,450
he focused on bitcoin specifically for a good amount of time which i was happy about but

528
00:30:11,450 --> 00:30:13,110
It was mostly a crypto event.

529
00:30:13,290 --> 00:30:20,930
How can we integrate stablecoins and real-world asset tokens into the banking system?

530
00:30:23,310 --> 00:30:23,850
It was interesting.

531
00:30:24,070 --> 00:30:24,350
Exciting.

532
00:30:25,290 --> 00:30:32,150
Fed Reserve Governor Waller was there, and he was saying that, hey, we need to implement this stuff.

533
00:30:32,710 --> 00:30:36,130
But the reason I bring it up is because stablecoins, real-world assets,

534
00:30:36,570 --> 00:30:40,970
this is all that crypto and Wall Street is focused on right now.

535
00:30:40,970 --> 00:30:46,270
I think it's a red herring, a siren call that people should be aware of.

536
00:30:46,470 --> 00:30:52,090
They're going to try and tokenize all the things and dump shitty commercial real estate exposure onto retail.

537
00:30:52,370 --> 00:30:52,790
So beware.

538
00:30:54,050 --> 00:30:58,210
Look, I mean, I think, yeah, first of all, investment in real estate is a shit coin.

539
00:30:59,490 --> 00:31:02,150
It's one thing if you want to own your own house.

540
00:31:04,090 --> 00:31:05,490
You can't live in a Bitcoin.

541
00:31:05,490 --> 00:31:24,300
and I think it gives families a lot of flexibility and relative freedom if they own their own house So I respect that But to actually own real estate as an investment is just a horrible investment compared to Bitcoin

542
00:31:24,440 --> 00:31:25,900
You're way better off holding Bitcoin.

543
00:31:26,100 --> 00:31:27,900
And I think history has shown that.

544
00:31:27,900 --> 00:31:30,320
I think the future will continue to show that.

545
00:31:30,740 --> 00:31:32,880
I think it'll be very obvious to people after the fact.

546
00:31:32,880 --> 00:31:44,200
But real world assets, it's been a broken record about this for seven years now on the show and longer in person.

547
00:31:44,820 --> 00:31:55,340
But real world assets require some trusted third party to actually enforce that contract and hold the real world asset for you.

548
00:31:55,340 --> 00:32:05,740
There's no way to cryptographically, natively, digitally connect your token with something in the real world, whether that's gold, whether that's dollars, whether that's real estate, whether that's stocks.

549
00:32:06,780 --> 00:32:15,160
All that said, I do think UX-wise, it's probably strictly better than the conventional traditional system.

550
00:32:15,640 --> 00:32:17,640
So there is a step improvement there.

551
00:32:18,460 --> 00:32:25,240
But I think it's way overhyped and people focus way too much time on it because you do have that trusted third party involved.

552
00:32:25,340 --> 00:32:29,420
And that's the key fundamental thing that Bitcoin solved, right?

553
00:32:29,560 --> 00:32:39,020
Is that you're able to have money that you can save without permission with no trusted third party involved because you have this native digital bearer.

554
00:32:41,480 --> 00:32:44,140
Yeah, completely agree.

555
00:32:44,140 --> 00:32:48,500
But going back to the CEO of Fireblocks, his name is escaping me.

556
00:32:48,580 --> 00:32:52,240
It was pretty cool to see him explain to the people in the audience.

557
00:32:52,240 --> 00:32:59,100
were asking questions about like okay like how do we do the sort of interbank settlement with

558
00:32:59,100 --> 00:33:03,640
this technology and he was like you don't need to bitcoin the ledger does it for you thank you

559
00:33:03,640 --> 00:33:09,420
if you have your custody set up right and you're able to officially separate accounts for your

560
00:33:09,420 --> 00:33:16,500
clients using uh separate wallets with specific utxos and you're accounting for that appropriately

561
00:33:16,500 --> 00:33:20,360
and you're sending between those, it is doing the settling for you.

562
00:33:20,640 --> 00:33:24,300
And so it was a signal to me.

563
00:33:24,360 --> 00:33:25,200
It's like wild times.

564
00:33:25,360 --> 00:33:30,000
We have people sitting in Federal Reserve buildings

565
00:33:30,000 --> 00:33:33,580
explaining how this stuff works to Federal Reserve board members

566
00:33:33,580 --> 00:33:38,020
and basically saying this technology completely revamps

567
00:33:38,020 --> 00:33:43,860
the system of account that we have in the banking system right now.

568
00:33:43,860 --> 00:33:45,100
The ledger does it for you.

569
00:33:45,100 --> 00:33:47,440
the files are in the computer

570
00:33:47,440 --> 00:33:48,860
if you will

571
00:33:48,860 --> 00:33:49,880
and

572
00:33:49,880 --> 00:33:53,320
I think it was a

573
00:33:53,320 --> 00:33:55,520
sign of the times it was very

574
00:33:55,520 --> 00:33:57,340
corporate and very

575
00:33:57,340 --> 00:33:59,260
sooty but it was like whoa

576
00:33:59,260 --> 00:34:00,540
we were actually

577
00:34:00,540 --> 00:34:03,440
making the case to the Federal Reserve that

578
00:34:03,440 --> 00:34:05,480
Bitcoin the protocol

579
00:34:05,480 --> 00:34:06,940
distributed

580
00:34:06,940 --> 00:34:09,540
ledger technology for lack of a better term

581
00:34:09,540 --> 00:34:11,200
is a step function improvement

582
00:34:11,200 --> 00:34:13,480
in the way that we settle money

583
00:34:13,480 --> 00:34:14,920
in the banking system today.

584
00:34:16,140 --> 00:34:19,340
The Federal Reserve, it's officially noted

585
00:34:19,340 --> 00:34:22,880
in the notes of a meeting that was held

586
00:34:22,880 --> 00:34:25,180
that the tech is here and it's better.

587
00:34:25,760 --> 00:34:26,520
So that was cool to see.

588
00:34:27,180 --> 00:34:29,620
But as I said, a lot of focus on stablecoins

589
00:34:29,620 --> 00:34:31,740
and real-world assets.

590
00:34:31,900 --> 00:34:34,060
And I would piggyback on what you said.

591
00:34:34,220 --> 00:34:34,700
I agree.

592
00:34:34,700 --> 00:34:38,140
It may be a step function improvement

593
00:34:38,140 --> 00:34:42,760
in the way that you issue an account for stocks

594
00:34:42,760 --> 00:34:46,260
or the real estate shares still doesn't really make any sense to me,

595
00:34:46,340 --> 00:34:48,980
but stocks makes a lot of sense to me.

596
00:34:50,000 --> 00:34:51,820
But again, what is the market about?

597
00:34:53,280 --> 00:34:55,880
I mean, look, I think the real estate shares also make sense,

598
00:34:56,460 --> 00:34:59,400
except for the fact that the underlying asset's a shitcoin.

599
00:35:00,300 --> 00:35:04,000
And maybe it makes more sense after post-hyper-Bitcoinization

600
00:35:04,000 --> 00:35:05,600
when these things get repriced.

601
00:35:05,600 --> 00:35:08,420
and there's actually

602
00:35:08,420 --> 00:35:13,160
a proper market valuation

603
00:35:13,160 --> 00:35:16,320
on the independent real estate that's being valued

604
00:35:16,320 --> 00:35:18,560
because right now it's just completely overvalued

605
00:35:18,560 --> 00:35:21,360
particularly in Bitcoin terms

606
00:35:21,360 --> 00:35:22,960
but even in fiat terms

607
00:35:22,960 --> 00:35:26,780
but when I say the shares make sense

608
00:35:26,780 --> 00:35:29,220
is because there are people that already do these schemes

609
00:35:29,220 --> 00:35:31,700
and it's very convoluted

610
00:35:31,700 --> 00:35:34,900
and difficult for the end user

611
00:35:34,900 --> 00:35:49,940
If you're going to say all else is equal, and I hate that I'm arguing the opposite side of this, but if you say all else is equal and you're buying one one-hundredth of a building, pre-blockchain versus post-blockchain.

612
00:35:49,940 --> 00:35:58,620
It's like pre-blockchain, you're signing a contract with someone, you have no secondary capability, you can't then sell it to someone else, you can't easily transfer it.

613
00:35:59,740 --> 00:36:01,240
It's net-net benefit.

614
00:36:01,540 --> 00:36:06,440
It's net-net, I think, a clear benefit to the end, quote-unquote, investor.

615
00:36:07,740 --> 00:36:11,540
Once again, besides the fact that the actual underlying asset is completely overvalued.

616
00:36:11,920 --> 00:36:18,780
I would say, just real quick here, I'm going to put my Bitcoin Policy Institute hat on for a second.

617
00:36:19,540 --> 00:36:26,700
We've gotten a lot of shit, playing politics, blah, blah, blah, getting involved with the beast.

618
00:36:27,480 --> 00:36:36,560
The status quo of Bitcoin Policy Institute doesn't exist is that these meetings continue to happen that are just completely dominated by corporate shit corners.

619
00:36:36,560 --> 00:36:40,460
It's just like massive companies that only care about crypto.

620
00:36:40,460 --> 00:36:45,180
and the reason Bitcoin Policy Institute exists in the first place

621
00:36:45,180 --> 00:36:49,420
is so that Bitcoiners that care about using Bitcoin as freedom money

622
00:36:49,420 --> 00:36:51,480
have a seat at the table for these types of events.

623
00:36:52,380 --> 00:36:57,280
I would say in BPI's situation right now,

624
00:36:57,380 --> 00:37:00,540
it was a miss that we didn't have anyone at that meeting.

625
00:37:01,700 --> 00:37:05,900
But the fact that it was a near miss, I think, is a win in itself.

626
00:37:05,900 --> 00:37:08,980
And the assumption is that those types of meetings,

627
00:37:09,120 --> 00:37:10,400
we will have a Bitcoiner there.

628
00:37:10,460 --> 00:37:13,980
that is actually advocating for people that care about Bitcoin

629
00:37:13,980 --> 00:37:15,040
as freedom money in America.

630
00:37:17,100 --> 00:37:19,200
Yeah, I mean, the list, it was

631
00:37:19,200 --> 00:37:21,740
the CEO from

632
00:37:21,740 --> 00:37:24,700
Fireblocks,

633
00:37:25,940 --> 00:37:28,120
you had Charles from Paxos there,

634
00:37:28,300 --> 00:37:30,760
Kyle Simani, the Chainlink guy.

635
00:37:30,780 --> 00:37:31,800
Coinbase was there, right?

636
00:37:32,620 --> 00:37:33,720
I think Coinbase was there.

637
00:37:33,840 --> 00:37:34,740
You had LeadBank.

638
00:37:35,320 --> 00:37:36,980
LeadBank, for anybody who's not in the know,

639
00:37:36,980 --> 00:37:42,400
they've been an incredible partner for Bitcoin companies in the space for many

640
00:37:42,400 --> 00:37:42,680
years.

641
00:37:42,780 --> 00:37:46,560
One of the leaders on the banking side to actually stick their necks out and

642
00:37:46,560 --> 00:37:48,640
bank Bitcoin companies,

643
00:37:48,760 --> 00:37:52,360
even during the 2023 crisis when people were playing hot potato,

644
00:37:54,360 --> 00:37:57,960
a bunch of other shit corners,

645
00:37:58,480 --> 00:38:01,220
basically going to the federal reserve and saying, here,

646
00:38:01,520 --> 00:38:02,740
here's what you guys need to do.

647
00:38:02,740 --> 00:38:06,620
And to your point, I think we need many more Bitcoiners.

648
00:38:06,980 --> 00:38:09,220
in the room when these conversations are happening.

649
00:38:11,460 --> 00:38:13,920
When it comes to things like escrow,

650
00:38:14,480 --> 00:38:17,280
they're very fundamental, low-hanging fruit.

651
00:38:18,180 --> 00:38:22,180
They're banking functionalities that could bring a lot of value,

652
00:38:22,820 --> 00:38:25,320
not only to Bitcoin, but to the banks themselves,

653
00:38:25,440 --> 00:38:29,180
as it pertains to leveraging multi-sig

654
00:38:29,180 --> 00:38:33,460
and using Bitcoin as collateral for lending products.

655
00:38:33,460 --> 00:38:36,940
and that really wasn't covered in depth.

656
00:38:37,120 --> 00:38:39,320
It was all about tokenization

657
00:38:39,320 --> 00:38:43,220
and stuff that should not be a priority right now.

658
00:38:43,380 --> 00:38:46,060
We need to re-collateralize the banking system

659
00:38:46,060 --> 00:38:47,120
with better collateral.

660
00:38:47,480 --> 00:38:48,400
And that should have been the focus.

661
00:38:48,540 --> 00:38:48,980
It wasn't.

662
00:38:49,140 --> 00:38:52,620
But luckily we have the people at BPI

663
00:38:52,620 --> 00:38:54,460
working to change that.

664
00:38:54,580 --> 00:38:57,020
And on that note, big news out of BPI this week.

665
00:38:57,580 --> 00:39:02,860
Connor Brown, who was the lead for Bitcoin

666
00:39:02,860 --> 00:39:06,520
in AI within Cynthia Lummis' office.

667
00:39:07,000 --> 00:39:10,980
Senator from Wyoming has stepped down from that position and joined

668
00:39:10,980 --> 00:39:14,620
BPI as the head of strategy. It's pretty big.

669
00:39:14,620 --> 00:39:16,840
Big get for BPI. Congrats to you guys.

670
00:39:17,320 --> 00:39:20,200
I'd love to see it. I think wins all around.

671
00:39:22,920 --> 00:39:24,940
For those who don't know, I've known Connor.

672
00:39:26,620 --> 00:39:30,620
I've known Connor for eight years now. We met in 2017 when he was a young lad,

673
00:39:30,620 --> 00:39:32,860
a young pup in law school.

674
00:39:34,140 --> 00:39:37,540
And he's one of those lesser known

675
00:39:37,540 --> 00:39:39,460
but highly impactful individuals

676
00:39:39,460 --> 00:39:40,500
in the Bitcoin industry.

677
00:39:42,160 --> 00:39:45,060
I mean, you want to talk like,

678
00:39:46,260 --> 00:39:49,960
okay, Kobe and Ledger were able to sell their podcast

679
00:39:49,960 --> 00:39:52,580
for a season to Coinbase for $25 million.

680
00:39:53,420 --> 00:39:55,240
Like, okay, good for them.

681
00:39:55,300 --> 00:39:55,740
That's great.

682
00:39:55,740 --> 00:39:57,900
We haven't been able to, you know,

683
00:39:57,900 --> 00:40:00,840
sell RHR to that level.

684
00:40:01,480 --> 00:40:03,400
But Connor Brown

685
00:40:03,400 --> 00:40:05,240
grew up on RHR

686
00:40:05,240 --> 00:40:07,180
and then ended up leading Bitcoin

687
00:40:07,180 --> 00:40:09,340
strategy for

688
00:40:09,340 --> 00:40:10,560
a senator out of Wyoming.

689
00:40:11,340 --> 00:40:13,400
Senator Lummis, I think, is a massive...

690
00:40:13,400 --> 00:40:14,960
That alone,

691
00:40:17,020 --> 00:40:17,840
RHR is winning

692
00:40:17,840 --> 00:40:19,040
just on that front alone.

693
00:40:20,640 --> 00:40:21,880
Huge shout out to Connor.

694
00:40:22,160 --> 00:40:23,720
I'm very excited to have him at BPI.

695
00:40:23,940 --> 00:40:24,920
I think he's going to

696
00:40:24,920 --> 00:40:27,780
gradually then suddenly

697
00:40:27,780 --> 00:40:29,840
take a much larger role at BPI

698
00:40:29,840 --> 00:40:31,260
so I'm pretty excited about it.

699
00:40:32,200 --> 00:40:33,820
Yes, I will be hopping on an Accela

700
00:40:33,820 --> 00:40:35,820
train down to DC to

701
00:40:35,820 --> 00:40:37,520
record with Connor for TFTC

702
00:40:37,520 --> 00:40:39,960
a week from Monday

703
00:40:39,960 --> 00:40:41,980
in the Rumble Studios. We're doing it in the Rumble

704
00:40:41,980 --> 00:40:43,920
Studios, so be on the lookout for that.

705
00:40:44,240 --> 00:40:44,820
That's exciting.

706
00:40:45,640 --> 00:40:47,920
Yeah. Connor's a good friend.

707
00:40:48,040 --> 00:40:49,560
I'm happy for him, happy for BPI.

708
00:40:52,200 --> 00:40:54,000
I think we'll be able to

709
00:40:54,000 --> 00:40:55,900
expand upon it when we sit down to record

710
00:40:55,900 --> 00:40:56,700
but he's been

711
00:40:56,700 --> 00:41:00,980
doing some very big stuff behind the scenes for Bitcoin for many years.

712
00:41:01,220 --> 00:41:04,160
I'm excited that he's now moving into a...

713
00:41:04,160 --> 00:41:08,340
I think he's going to be able to speak more freely now, too.

714
00:41:08,980 --> 00:41:09,340
Yes.

715
00:41:10,720 --> 00:41:12,780
We'll be able to see Connor unleashed.

716
00:41:15,420 --> 00:41:16,620
It's going to be a beautiful thing.

717
00:41:16,800 --> 00:41:17,420
A lot of work to do.

718
00:41:18,460 --> 00:41:23,120
And to that note, I've been talking to Connor behind the scenes,

719
00:41:23,200 --> 00:41:25,640
and I feel like he'd be comfortable with me relaying this.

720
00:41:25,640 --> 00:41:37,580
I know this is a core initiative for BPI too, but if you're young, hungry, and suit-like, the Hill needs more Bitcoiners.

721
00:41:38,940 --> 00:41:40,680
The Hill needs more Bitcoiners.

722
00:41:41,040 --> 00:41:50,320
If you're a young, hungry suit corner, we need you. Uncle Satoshi needs you.

723
00:41:50,740 --> 00:41:52,300
Uncle Satoshi needs you.

724
00:41:52,300 --> 00:41:56,640
and Connor's been tweeting about this too

725
00:41:56,640 --> 00:42:00,600
if you're out there and you're willing to

726
00:42:00,600 --> 00:42:04,620
live in the swamp and help advise on Bitcoin policy

727
00:42:04,620 --> 00:42:05,860
you are desperately needed

728
00:42:05,860 --> 00:42:09,640
so consider taking up the call

729
00:42:09,640 --> 00:42:14,940
you don't have to be young either

730
00:42:14,940 --> 00:42:17,260
if you're an older freak, C-Corner

731
00:42:17,260 --> 00:42:19,660
it'd be great to have you

732
00:42:19,660 --> 00:42:24,720
A lot of these staffing positions are lower level.

733
00:42:24,940 --> 00:42:27,240
I think that's the problem we face right now,

734
00:42:27,300 --> 00:42:28,780
is we do need young people.

735
00:42:29,580 --> 00:42:30,860
Yeah, we need the interns.

736
00:42:31,760 --> 00:42:36,820
It's a significant pay decrease

737
00:42:36,820 --> 00:42:39,540
if you're a well-established suit-coiter already.

738
00:42:42,920 --> 00:42:44,560
Maybe consider it your civic duty.

739
00:42:46,420 --> 00:42:47,700
No, fuck that.

740
00:42:47,700 --> 00:42:49,160
No, I'm kidding.

741
00:42:49,160 --> 00:42:49,760
I'm kidding.

742
00:42:50,020 --> 00:42:51,260
Your Satoshi duty.

743
00:42:52,400 --> 00:42:52,740
Yes.

744
00:42:54,680 --> 00:42:58,980
Try to look for things to talk about.

745
00:42:59,200 --> 00:43:00,640
It's been a pretty slow news week outside.

746
00:43:00,700 --> 00:43:01,640
Well, let's talk about,

747
00:43:02,520 --> 00:43:03,980
can we talk about how

748
00:43:03,980 --> 00:43:08,220
Shitcoin RHR sold for $25 million for a season?

749
00:43:09,120 --> 00:43:10,680
I sent Marty a tweet.

750
00:43:12,000 --> 00:43:13,500
So if you're not aware,

751
00:43:13,500 --> 00:43:14,920
up only is

752
00:43:14,920 --> 00:43:17,160
Crypto,

753
00:43:17,460 --> 00:43:18,940
Kobay, Kobay's,

754
00:43:19,320 --> 00:43:21,100
and Ledger Status's show.

755
00:43:21,900 --> 00:43:23,520
They've had some prolific fucking

756
00:43:23,520 --> 00:43:24,760
episodes, to be fair.

757
00:43:25,680 --> 00:43:27,320
I mean, the one with Sam Van Vandt and

758
00:43:27,320 --> 00:43:29,200
Suzu on the same episode. And Martin

759
00:43:29,200 --> 00:43:29,720
Shkreli.

760
00:43:30,120 --> 00:43:35,300
And Martin was like,

761
00:43:35,380 --> 00:43:36,980
Shkreli was like, you're going to jail.

762
00:43:37,440 --> 00:43:38,240
You're going to hate it.

763
00:43:40,860 --> 00:43:41,540
They said

764
00:43:41,540 --> 00:43:43,220
they weren't going to do another season unless someone

765
00:43:43,220 --> 00:43:45,800
bought a $25 million NFT and Coinbase bought it.

766
00:43:46,960 --> 00:43:48,600
And there was this tweet that was like,

767
00:43:48,760 --> 00:43:51,160
imagine, so Ledger's status is like basically

768
00:43:51,160 --> 00:43:56,120
just turned into a dad poster on crypto Twitter.

769
00:43:56,120 --> 00:43:58,680
And he's like building a ranch with like his,

770
00:43:59,580 --> 00:44:01,300
he's got like a flock of children.

771
00:44:02,020 --> 00:44:04,460
And someone's like, imagine being Ledger's wife.

772
00:44:05,100 --> 00:44:08,860
And just like your co-host just got you $12.5 million

773
00:44:08,860 --> 00:44:10,480
for an eight episode season.

774
00:44:10,480 --> 00:44:13,160
and I sent Marty the tweet.

775
00:44:13,260 --> 00:44:14,940
I was like, Marty, when are you going to do this for my wife?

776
00:44:18,120 --> 00:44:19,820
I'm trying my best here.

777
00:44:20,560 --> 00:44:21,640
I'm trying my best here.

778
00:44:22,060 --> 00:44:25,440
The best part of that tweet was because his British co-host

779
00:44:25,440 --> 00:44:27,460
has infinite internet aura points.

780
00:44:29,280 --> 00:44:31,160
I guess there's more to the story.

781
00:44:31,160 --> 00:44:36,160
He has some kind of shitcoin investing company

782
00:44:36,160 --> 00:44:39,220
that Coinbase bought for the $375 million

783
00:44:39,220 --> 00:44:41,440
and part of that was the $25 million

784
00:44:41,440 --> 00:44:44,280
podcast sponsorship.

785
00:44:44,740 --> 00:44:46,820
He hooked up his co-host.

786
00:44:46,900 --> 00:44:47,760
He was a good co-host.

787
00:44:48,400 --> 00:44:49,640
So he gets a shout out for that.

788
00:44:50,080 --> 00:44:51,720
He could have just kept the money himself, probably.

789
00:44:53,100 --> 00:44:53,940
And Kobe, I mean,

790
00:44:54,980 --> 00:44:57,440
despite the fact that he's a shit corner,

791
00:44:57,540 --> 00:44:58,200
he is hilarious.

792
00:44:58,200 --> 00:45:00,420
And I've been following OnX

793
00:45:00,420 --> 00:45:01,980
for more than 11 years.

794
00:45:02,140 --> 00:45:03,960
One of the better shit corners.

795
00:45:04,760 --> 00:45:04,880
Yeah.

796
00:45:04,880 --> 00:45:08,620
it was

797
00:45:08,620 --> 00:45:10,780
it was amazing that they avoided

798
00:45:10,780 --> 00:45:13,400
like it was kind of fucked up that they were like

799
00:45:13,400 --> 00:45:14,680
FTX friend people

800
00:45:14,680 --> 00:45:15,400
yeah

801
00:45:15,400 --> 00:45:17,960
there was no

802
00:45:17,960 --> 00:45:20,940
me culpa or whatever on that

803
00:45:20,940 --> 00:45:22,220
like there was never like a

804
00:45:22,220 --> 00:45:25,020
I'm sorry I fucked up

805
00:45:25,020 --> 00:45:26,700
no to Kobe's

806
00:45:26,700 --> 00:45:28,840
sort of aura

807
00:45:28,840 --> 00:45:30,580
point like he's

808
00:45:30,580 --> 00:45:32,360
evaded this his whole career

809
00:45:32,360 --> 00:45:34,660
I mean he was prolific early days back in like

810
00:45:34,660 --> 00:45:36,380
the 2014

811
00:45:36,380 --> 00:45:39,080
to 2017

812
00:45:39,080 --> 00:45:39,520
era.

813
00:45:39,980 --> 00:45:41,420
He's been around forever.

814
00:45:41,900 --> 00:45:42,860
Calling tops and bottoms.

815
00:45:46,240 --> 00:45:47,240
What is it about

816
00:45:47,240 --> 00:45:47,580
RHR?

817
00:45:47,580 --> 00:45:49,680
Who would we sell

818
00:45:49,680 --> 00:45:51,460
the show to

819
00:45:51,460 --> 00:45:52,340
for $25 million?

820
00:45:53,520 --> 00:45:55,020
It doesn't exist.

821
00:45:55,200 --> 00:45:55,780
It's never going to happen.

822
00:45:56,280 --> 00:45:58,900
We're about $25 million short

823
00:45:58,900 --> 00:46:00,400
on being comparable

824
00:46:00,400 --> 00:46:02,340
to their acquisition.

825
00:46:02,340 --> 00:46:09,940
it is there i mean but we get zaps what is we get zaps so we got that coming for us

826
00:46:09,940 --> 00:46:18,460
but what is it about this show this format are we too boring like remember last cycle when up only

827
00:46:18,460 --> 00:46:24,240
was was very popular it's like this shit they're talking about i mean like to your point like ftx

828
00:46:24,240 --> 00:46:31,300
they're front men essentially and that blew up and these people are able to maintain personal

829
00:46:31,300 --> 00:46:33,060
responsibility is not sexy.

830
00:46:33,880 --> 00:46:39,900
It's like telling people you have to do a long grind of being conservative,

831
00:46:39,900 --> 00:46:42,960
raising a family and saving hard money.

832
00:46:43,960 --> 00:46:55,770
There no mass appeal there We exist for the ride or dies and that fine Once again to the Conor Brown point we have a super strong Rabbit Hole Recap mafia

833
00:46:56,490 --> 00:46:58,970
One of the coolest things about 1031, for instance,

834
00:46:59,610 --> 00:47:01,750
is a bunch of the companies we support,

835
00:47:02,310 --> 00:47:04,310
the founders grew up on Rabbit Hole Recap.

836
00:47:05,090 --> 00:47:07,750
I don't know if you saw a million posted.

837
00:47:07,750 --> 00:47:11,630
One of the freaks said that we curse too much.

838
00:47:11,630 --> 00:47:14,290
and million responded

839
00:47:14,290 --> 00:47:16,830
and his daughter

840
00:47:16,830 --> 00:47:18,750
who's working at primal now

841
00:47:18,750 --> 00:47:20,770
like has been listening

842
00:47:20,770 --> 00:47:22,750
to rabbit hole recap since she was like

843
00:47:22,750 --> 00:47:24,310
12 and he's like she turned out fine

844
00:47:24,310 --> 00:47:25,670
like that's crazy

845
00:47:25,670 --> 00:47:28,810
that is crazy they're children that are

846
00:47:28,810 --> 00:47:30,670
adults now they're adults that

847
00:47:30,670 --> 00:47:32,650
are running that are running

848
00:47:32,650 --> 00:47:34,110
portfolio companies at 1031

849
00:47:34,110 --> 00:47:35,030
yeah

850
00:47:35,030 --> 00:47:38,610
that's cool we're old we're old dude we've been

851
00:47:38,610 --> 00:47:39,450
on this game for a while

852
00:47:39,450 --> 00:47:43,890
$25 million might be slightly cooler, but that's pretty cool.

853
00:47:44,370 --> 00:47:44,890
That is cool.

854
00:47:45,810 --> 00:47:46,650
We're not in it for the money.

855
00:47:47,090 --> 00:47:48,970
We're here for the tech.

856
00:47:52,910 --> 00:47:54,350
We're in it for both, but yes.

857
00:47:56,350 --> 00:48:00,230
If anybody just wants to give us $25 million to split down the middle,

858
00:48:00,690 --> 00:48:02,610
Logan, we'll throw you some sats.

859
00:48:03,370 --> 00:48:06,170
Dude, the funniest part is it's an eight-episode season.

860
00:48:06,370 --> 00:48:08,530
We do 52 episodes a fucking year.

861
00:48:09,450 --> 00:48:15,070
hey

862
00:48:15,070 --> 00:48:17,290
let's not rain on people's success

863
00:48:17,290 --> 00:48:19,210
shout out to Kobe and Ledger even though you've been

864
00:48:19,210 --> 00:48:21,010
from Bitcoin exchanges

865
00:48:21,010 --> 00:48:22,210
they deserve credit for it

866
00:48:22,210 --> 00:48:24,290
the Ledger

867
00:48:24,290 --> 00:48:27,150
part of it is hilarious he's just in the woods

868
00:48:27,150 --> 00:48:27,970
building a ranch

869
00:48:27,970 --> 00:48:29,270
just along for the ride

870
00:48:29,270 --> 00:48:33,250
honey we're 12 and a half million dollars richer

871
00:48:33,250 --> 00:48:34,930
good for that family

872
00:48:34,930 --> 00:48:36,910
I agree

873
00:48:36,910 --> 00:48:39,130
I always like Ledger

874
00:48:39,130 --> 00:48:39,470
a lot.

875
00:48:40,210 --> 00:48:40,410
Yeah.

876
00:48:41,130 --> 00:48:41,990
It's a good one.

877
00:48:43,090 --> 00:48:45,530
What do we have to look forward to this weekend

878
00:48:45,530 --> 00:48:47,090
in Lugana? Are you excited?

879
00:48:48,350 --> 00:48:48,770
I don't know.

880
00:48:49,130 --> 00:48:50,530
I'm doing four panels.

881
00:48:51,630 --> 00:48:53,230
When is your

882
00:48:53,230 --> 00:48:54,350
Shark Tank?

883
00:48:55,830 --> 00:48:57,370
That's on Monday. I'm doing four

884
00:48:57,370 --> 00:48:58,650
panels in addition to that.

885
00:48:59,690 --> 00:49:00,490
Are you excited for that?

886
00:49:01,310 --> 00:49:03,470
Yeah, they did the first round yesterday.

887
00:49:03,950 --> 00:49:05,370
So I sat in for a little

888
00:49:05,370 --> 00:49:05,630
bit.

889
00:49:07,170 --> 00:49:08,530
There's some cool pitches there.

890
00:49:09,130 --> 00:49:20,050
I think it's cool that Tether is throwing a bunch of money as prizes, automatic prizes for the top winners on both the open source side and the for-profit side.

891
00:49:24,310 --> 00:49:27,630
I used to love Shark Tank.

892
00:49:28,350 --> 00:49:31,770
I definitely do not watch it anymore, but I used to love Shark Tank, so it's kind of cool.

893
00:49:33,630 --> 00:49:37,470
And they're doing it at their version of Bitcoin Park, the POW hub.

894
00:49:37,470 --> 00:49:40,650
they have like a four production suite

895
00:49:40,650 --> 00:49:43,530
like Giacomo is a legend among men

896
00:49:43,530 --> 00:49:45,450
he's a fearless leader over there

897
00:49:45,450 --> 00:49:49,850
I interviewed Francis

898
00:49:49,850 --> 00:49:53,890
for civil dispatch and then right afterwards he was a judge on the first round

899
00:49:53,890 --> 00:49:58,930
so like the idea is they have like capital allocators

900
00:49:58,930 --> 00:50:01,210
and they have one entrepreneur on the judge panel

901
00:50:01,210 --> 00:50:04,710
so like it's kind of funny that Francis is on the judge panel

902
00:50:04,710 --> 00:50:07,990
because not only is he not an investor,

903
00:50:08,230 --> 00:50:11,090
but also he bootstrapped his business

904
00:50:11,090 --> 00:50:12,610
and never took outside capital.

905
00:50:13,890 --> 00:50:16,310
But he was there as their advocate, basically.

906
00:50:17,450 --> 00:50:18,390
So that was fun.

907
00:50:18,670 --> 00:50:19,210
Vibs were high.

908
00:50:19,310 --> 00:50:20,350
People were excited about it.

909
00:50:20,870 --> 00:50:23,830
It's cool seeing young people excited about building on Bitcoin,

910
00:50:25,210 --> 00:50:26,330
just in general.

911
00:50:27,390 --> 00:50:30,630
Are you allowed to talk about what pitches have been made yet,

912
00:50:30,710 --> 00:50:31,610
or is that for?

913
00:50:31,610 --> 00:50:36,310
a recording that will be released later.

914
00:50:37,250 --> 00:50:38,190
I think I'm not supposed to.

915
00:50:38,490 --> 00:50:41,310
Everything is going to be exclusively posted to Rumble,

916
00:50:41,430 --> 00:50:42,190
is my understanding,

917
00:50:43,190 --> 00:50:46,410
including Plan B Forum's livestream.

918
00:50:47,770 --> 00:50:48,690
Yeah, not shocking.

919
00:50:48,970 --> 00:50:52,430
Tether invested $750 million into Rumble.

920
00:50:53,430 --> 00:50:55,670
Most expensive livestream of all time.

921
00:50:56,570 --> 00:50:57,030
But yes,

922
00:50:57,030 --> 00:51:01,670
it should be up with pretty good production quality

923
00:51:01,670 --> 00:51:03,670
hopefully relatively soon

924
00:51:03,670 --> 00:51:05,930
because I always think the stuff ages really poorly

925
00:51:05,930 --> 00:51:06,370
so

926
00:51:06,370 --> 00:51:10,310
hopefully it gets released sooner rather than later

927
00:51:10,310 --> 00:51:11,450
yeah

928
00:51:11,450 --> 00:51:16,790
I'm just looking at the mempool

929
00:51:16,790 --> 00:51:17,590
I want to check the mempool

930
00:51:17,590 --> 00:51:19,670
one sat per vbite across the board

931
00:51:19,670 --> 00:51:20,710
mempools are empty

932
00:51:20,710 --> 00:51:23,350
it doesn't look like people are mempooling right now

933
00:51:25,870 --> 00:51:26,270
um

934
00:51:27,030 --> 00:51:28,630
No, I think they are.

935
00:51:29,270 --> 00:51:31,010
Marty, they're still spamming the chain.

936
00:51:31,450 --> 00:51:33,190
They're just spamming it quite cheaply.

937
00:51:33,590 --> 00:51:34,030
Yes.

938
00:51:34,150 --> 00:51:35,270
That's what's happening right now.

939
00:51:35,730 --> 00:51:36,470
That is what's happening.

940
00:51:37,390 --> 00:51:39,350
I will say that, freaks, I've been doing my part.

941
00:51:39,450 --> 00:51:40,850
I send a lot of on-chain transactions.

942
00:51:43,090 --> 00:51:43,990
I do as well.

943
00:51:44,370 --> 00:51:46,170
I've sent probably average

944
00:51:46,170 --> 00:51:49,310
at least three to four a week.

945
00:51:50,910 --> 00:51:52,430
Yeah, I mean, if you're not sending

946
00:51:52,430 --> 00:51:56,510
at least 16 on-chain transactions a month,

947
00:51:57,030 --> 00:51:58,110
And you're part of the problem.

948
00:51:58,870 --> 00:52:00,710
Yeah, you are.

949
00:52:01,390 --> 00:52:03,410
You're like, I made the line for you, Marty.

950
00:52:05,410 --> 00:52:08,210
It's, uh...

951
00:52:08,210 --> 00:52:09,170
I'm looking at the...

952
00:52:09,170 --> 00:52:11,250
I'm just on mempool.space perusing.

953
00:52:11,410 --> 00:52:14,090
It's a great website to peruse if you're looking for data.

954
00:52:14,210 --> 00:52:16,110
1.11 zeta hash per second.

955
00:52:16,110 --> 00:52:18,510
Did you see they added their stale block feature?

956
00:52:19,050 --> 00:52:21,190
Where if there's two blocks competing, it shows it

957
00:52:21,190 --> 00:52:25,030
on the homepage now?

958
00:52:27,030 --> 00:52:28,690
Let me see.

959
00:52:28,810 --> 00:52:29,870
Shout out them for that.

960
00:52:31,410 --> 00:52:33,150
Where am I supposed to see this?

961
00:52:33,710 --> 00:52:37,190
I mean, you'll only see it if there's two blocks competing.

962
00:52:37,670 --> 00:52:39,990
So it'll just show us it.

963
00:52:39,990 --> 00:52:41,990
I think if you go to...

964
00:52:46,550 --> 00:52:54,990
Foundry and Antpool had a block that...

965
00:52:54,990 --> 00:52:58,030
was competing

966
00:52:58,030 --> 00:53:01,130
block number

967
00:53:01,130 --> 00:53:06,010
let's see if I see it here

968
00:53:06,010 --> 00:53:08,610
while scrolling scroll scroll scroll

969
00:53:08,610 --> 00:53:12,470
no I can't find it

970
00:53:12,470 --> 00:53:14,390
but they had a block that was competing

971
00:53:14,390 --> 00:53:16,330
that was two blocks next to each other

972
00:53:16,330 --> 00:53:20,230
trying to look for this

973
00:53:20,230 --> 00:53:22,870
if you go to

974
00:53:22,870 --> 00:53:23,550
let me

975
00:53:23,550 --> 00:53:25,310
and see if I can find it.

976
00:53:34,690 --> 00:53:37,630
Block 920-212.

977
00:53:39,290 --> 00:53:40,890
920-212.

978
00:53:41,750 --> 00:53:42,750
I passed it.

979
00:53:42,990 --> 00:53:45,950
Scroll to it on the main page.

980
00:53:49,290 --> 00:53:51,050
I'm way behind it.

981
00:53:51,050 --> 00:53:53,390
scroll to it on the main page

982
00:53:53,390 --> 00:53:55,370
920212

983
00:53:55,370 --> 00:53:55,990
I'm in the process

984
00:53:55,990 --> 00:53:56,730
I'm in the process

985
00:53:56,730 --> 00:53:57,610
I was down at like

986
00:53:57,610 --> 00:53:58,410
919

987
00:53:58,410 --> 00:54:01,650
and you can see

988
00:54:01,650 --> 00:54:03,070
you can see two blocks there

989
00:54:03,070 --> 00:54:04,030
just back to back

990
00:54:04,030 --> 00:54:04,710
it's pretty cool

991
00:54:04,710 --> 00:54:06,990
212

992
00:54:06,990 --> 00:54:09,210
I mean I think it's intuitive

993
00:54:09,210 --> 00:54:10,270
how they display it

994
00:54:10,270 --> 00:54:11,530
and just for the freaks

995
00:54:11,530 --> 00:54:12,530
that maybe are

996
00:54:12,530 --> 00:54:13,970
newer and don't know

997
00:54:13,970 --> 00:54:15,010
what a stale block is

998
00:54:15,010 --> 00:54:17,610
is like sometimes you have

999
00:54:17,610 --> 00:54:20,110
at the chain tip

1000
00:54:20,110 --> 00:54:22,210
two miners find a block at the same time.

1001
00:54:22,950 --> 00:54:24,550
And then there's basically a race

1002
00:54:24,550 --> 00:54:30,090
on which block gets mined on top of with the next block.

1003
00:54:30,590 --> 00:54:32,190
It's 920212.

1004
00:54:33,410 --> 00:54:35,030
Yeah, I'm not seeing it in my UI.

1005
00:54:36,470 --> 00:54:37,970
Okay, well, I see it right here.

1006
00:54:39,890 --> 00:54:40,330
Interesting.

1007
00:54:40,490 --> 00:54:43,310
And you can click the stale block, which is kind of cool.

1008
00:54:44,850 --> 00:54:47,810
Anyway, I think it's a simple, nice UX improvement.

1009
00:54:47,810 --> 00:54:52,310
because it does happen a little bit more frequently than people realize.

1010
00:54:53,570 --> 00:54:54,710
Technically not a fork.

1011
00:54:55,270 --> 00:55:00,530
It only becomes a fork if both sides get mined on top of it in continuity.

1012
00:55:02,030 --> 00:55:04,330
It happens more often than people think.

1013
00:55:09,090 --> 00:55:13,610
It's part of the reason why we want very strong block propagation

1014
00:55:13,610 --> 00:55:17,170
where newly mined blocks get transferred through the network very quickly.

1015
00:55:17,810 --> 00:55:21,830
obviously it sucks for a miner if they mine a block

1016
00:55:21,830 --> 00:55:25,490
and then someone else goes

1017
00:55:25,490 --> 00:55:30,630
to someone else gets the reward for it.

1018
00:55:31,150 --> 00:55:32,430
Yeah, it makes you feel like a loser too.

1019
00:55:32,510 --> 00:55:33,390
It's like I mined the block,

1020
00:55:33,510 --> 00:55:35,250
but everybody else chose this guy's block

1021
00:55:35,250 --> 00:55:36,550
and built on that.

1022
00:55:37,090 --> 00:55:38,010
What about my block?

1023
00:55:38,050 --> 00:55:38,990
It was perfectly valid.

1024
00:55:39,810 --> 00:55:40,890
Why didn't you build on this one?

1025
00:55:42,710 --> 00:55:44,530
Yeah, it's hard to not take it personally.

1026
00:55:45,430 --> 00:55:45,630
Yeah.

1027
00:55:47,810 --> 00:55:49,850
I was going to say, though, looking at the mining section,

1028
00:55:50,170 --> 00:55:53,250
1.11 Zeta hash per second over the last week.

1029
00:55:53,350 --> 00:55:56,910
I just think it's crazy since we've passed a Zeta hash,

1030
00:55:57,290 --> 00:55:59,690
like 0.11, like we're adding an X hash.

1031
00:56:00,970 --> 00:56:02,070
I missed immediately.

1032
00:56:03,010 --> 00:56:04,210
That would be 100 X hash.

1033
00:56:05,530 --> 00:56:10,530
Yeah, I mean, there's so many things with Bitcoin

1034
00:56:10,530 --> 00:56:15,330
that you're sitting there laying in bed and it just blows your mind.

1035
00:56:15,330 --> 00:56:18,250
like that one Bitcoin is worth

1036
00:56:18,250 --> 00:56:19,250
a hundred of your rings

1037
00:56:19,250 --> 00:56:22,490
which is like what the fuck

1038
00:56:22,490 --> 00:56:23,850
and these rings

1039
00:56:23,850 --> 00:56:26,150
this ring is

1040
00:56:26,150 --> 00:56:27,730
more than double the price

1041
00:56:27,730 --> 00:56:30,010
is that a Mene?

1042
00:56:30,650 --> 00:56:32,530
yeah it's Mene so I can track it

1043
00:56:32,530 --> 00:56:33,410
on the website

1044
00:56:33,410 --> 00:56:36,550
yeah my wife's jewelry portfolio

1045
00:56:36,550 --> 00:56:37,410
is up a ton

1046
00:56:37,410 --> 00:56:40,470
yeah

1047
00:56:40,470 --> 00:56:42,530
Roy if you're listening it'd be great

1048
00:56:42,530 --> 00:56:43,510
to price it in Bitcoin

1049
00:56:43,510 --> 00:56:46,710
you don't need Roy to do it

1050
00:56:46,710 --> 00:56:48,130
you can download opportunity costs

1051
00:56:48,130 --> 00:56:51,210
and do it right in the UI

1052
00:56:51,210 --> 00:56:53,090
I know but it should still

1053
00:56:53,090 --> 00:56:56,750
for all the users of Mennay that don't have your extension

1054
00:56:56,750 --> 00:56:57,850
they should be able to just

1055
00:56:57,850 --> 00:57:01,770
tab BTC as the denominator

1056
00:57:01,770 --> 00:57:02,930
yeah

1057
00:57:02,930 --> 00:57:08,730
we've got an upwards difficulty adjustment of 5%

1058
00:57:08,730 --> 00:57:11,630
coming in a little over 900 blocks for 6 days

1059
00:57:11,630 --> 00:57:19,230
By the way, I have a bug report for opportunity cost.

1060
00:57:19,850 --> 00:57:20,250
What is it?

1061
00:57:21,790 --> 00:57:23,030
Big numbers.

1062
00:57:23,530 --> 00:57:25,090
It messes up with big numbers.

1063
00:57:25,910 --> 00:57:30,150
I went to Forbes Rich List.

1064
00:57:32,170 --> 00:57:35,110
Go to Forbes Real-Time Rich List.

1065
00:57:35,270 --> 00:57:36,570
Why were you on Forbes Rich List?

1066
00:57:36,570 --> 00:57:42,390
just aspiring

1067
00:57:42,390 --> 00:57:46,510
trying to dream big

1068
00:57:46,510 --> 00:57:48,690
do I have to have an excuse to realize

1069
00:57:48,690 --> 00:57:50,830
yeah

1070
00:57:50,830 --> 00:57:53,070
you see it messes up the numbers

1071
00:57:53,070 --> 00:57:56,390
I'm seeing Elon Musk is worth

1072
00:57:56,390 --> 00:57:58,250
487.5 billion

1073
00:57:58,250 --> 00:58:02,890
which is 4,449,414

1074
00:58:02,890 --> 00:58:03,350
bitcoin

1075
00:58:03,350 --> 00:58:05,090
is that correct?

1076
00:58:05,090 --> 00:58:07,050
It sounds right.

1077
00:58:10,690 --> 00:58:11,890
Yeah, it does sound right.

1078
00:58:12,190 --> 00:58:13,330
No, yeah, it was wrong for me.

1079
00:58:14,270 --> 00:58:16,310
It was way low.

1080
00:58:17,150 --> 00:58:19,590
Maybe I'm on Firefox, so maybe it's Chrome specific

1081
00:58:19,590 --> 00:58:21,830
if you're using Chrome or Brave.

1082
00:58:22,030 --> 00:58:22,970
Yeah, it was on Chrome.

1083
00:58:24,410 --> 00:58:25,830
Anyway, bug reports submitted.

1084
00:58:26,050 --> 00:58:26,750
I've done my duty.

1085
00:58:27,330 --> 00:58:27,810
All right, thank you.

1086
00:58:28,610 --> 00:58:30,490
I'll hit up Moses, let him know.

1087
00:58:30,910 --> 00:58:31,550
We need to work on this.

1088
00:58:31,590 --> 00:58:32,450
It is open source, too.

1089
00:58:32,510 --> 00:58:33,150
You can make a PR.

1090
00:58:34,190 --> 00:58:34,670
I just did.

1091
00:58:35,090 --> 00:58:42,450
I like the analog PRs are the best PRs.

1092
00:58:42,770 --> 00:58:44,090
Or issues. It's not even a PR.

1093
00:58:44,210 --> 00:58:46,550
PR would involve me doing code change.

1094
00:58:48,230 --> 00:58:50,110
Now you got me on Forbes Rich List.

1095
00:58:50,270 --> 00:58:54,130
We got Elon, Larry Ellison, Zuck, Bezos, Larry Page,

1096
00:58:54,530 --> 00:58:58,530
Sergey Brin, Bernard, Arnolt, and family.

1097
00:58:59,390 --> 00:59:02,650
Steve Ballmer, Jensen Huang, and Warren Buffett.

1098
00:59:02,650 --> 00:59:05,590
I mean, it's pretty crazy seeing it in Bitcoin terms, right?

1099
00:59:06,590 --> 00:59:07,150
Yeah.

1100
00:59:07,290 --> 00:59:14,630
If we aggregate all these together, 1.3, 1.4, it's 2.7, 1.4, that's 4.1, 1.7.

1101
00:59:16,030 --> 00:59:31,450
That's 5.8, 1.7, that's 7.5, 1.9, 9.4, 2.1, 11.5, 2.3.

1102
00:59:32,650 --> 00:59:44,030
2.3, 13.7, or 8, excuse me, 3, 16.7, and then 4.4.

1103
00:59:46,450 --> 00:59:50,170
That would be, yeah, 22.1 million.

1104
00:59:51,550 --> 00:59:58,050
22.1 million is the aggregate wealth of 22.2 million.

1105
00:59:58,050 --> 01:00:02,930
22.1 million Bitcoin is the aggregate wealth of the top 10 billionaires in the world.

1106
01:00:05,010 --> 01:00:05,450
Definitionally

1107
01:00:05,450 --> 01:00:09,430
overpriced, right?

1108
01:00:10,090 --> 01:00:12,550
Yeah, the 10 richest people in the world.

1109
01:00:13,110 --> 01:00:17,530
Literally can happen. Once we move to a Bitcoin standard,

1110
01:00:17,530 --> 01:00:19,830
they all have to scramble.

1111
01:00:23,950 --> 01:00:25,450
Who on this list has Bitcoin?

1112
01:00:25,450 --> 01:00:27,590
Zuck's mentioned it. Elon definitely has it.

1113
01:00:27,590 --> 01:00:28,550
Elon, Zuck.

1114
01:00:29,250 --> 01:00:30,550
I think Bezos has mentioned it.

1115
01:00:30,550 --> 01:00:32,550
I think everybody...

1116
01:00:32,550 --> 01:00:36,570
Warren Buffett may be the only one

1117
01:00:36,570 --> 01:00:37,810
in the top ten that doesn't have Bitcoin.

1118
01:00:38,390 --> 01:00:39,750
And he's old, it's fine.

1119
01:00:40,750 --> 01:00:42,630
Elon, what, you said

1120
01:00:42,630 --> 01:00:44,090
his net worth is 4 million Bitcoin?

1121
01:00:45,130 --> 01:00:46,050
4.4.

1122
01:00:47,190 --> 01:00:48,370
He probably has, what,

1123
01:00:48,430 --> 01:00:49,650
like 100k Bitcoin?

1124
01:00:50,470 --> 01:00:51,210
Would not be shocked.

1125
01:00:52,410 --> 01:00:53,110
Would not be shocked.

1126
01:00:53,110 --> 01:00:54,990
yeah

1127
01:00:54,990 --> 01:00:57,570
so he's way

1128
01:00:57,570 --> 01:00:59,610
under exposed to bitcoin

1129
01:00:59,610 --> 01:01:01,810
regardless of how he cut it

1130
01:01:01,810 --> 01:01:03,930
because there's no way he has anywhere

1131
01:01:03,930 --> 01:01:04,270
near

1132
01:01:04,270 --> 01:01:06,730
a million bitcoin

1133
01:01:06,730 --> 01:01:10,030
but bitcoin was created by the CIA

1134
01:01:10,030 --> 01:01:11,690
and the price is crashing so

1135
01:01:11,690 --> 01:01:12,510
it doesn't really matter

1136
01:01:12,510 --> 01:01:14,950
so is SpaceX

1137
01:01:14,950 --> 01:01:16,490
it tends to be bullish

1138
01:01:16,490 --> 01:01:19,790
what was that

1139
01:01:19,790 --> 01:01:21,590
I said

1140
01:01:21,590 --> 01:01:24,490
I said SpaceX was also created by the CIA.

1141
01:01:24,830 --> 01:01:25,810
It tends to be bullish.

1142
01:01:27,550 --> 01:01:29,210
Facebook was created by the CIA.

1143
01:01:30,590 --> 01:01:33,410
All the most valuable things tend to be created by the CIA.

1144
01:01:34,710 --> 01:01:35,170
That is true.

1145
01:01:37,210 --> 01:01:42,390
I can hear my children rustling outside the office door.

1146
01:01:42,490 --> 01:01:45,250
We scheduled this early, not only to compete with Squawk Box,

1147
01:01:45,250 --> 01:01:49,250
but I like my...

1148
01:01:49,250 --> 01:01:51,050
We can wrap. You want to read shout-outs?

1149
01:01:51,590 --> 01:01:52,290
Oh, yeah.

1150
01:01:54,050 --> 01:01:55,250
We got shout outs.

1151
01:01:55,430 --> 01:01:59,650
I was going to say, I really enjoy driving my boys to school.

1152
01:02:00,030 --> 01:02:04,010
We have to get on the road here in about 15 minutes.

1153
01:02:05,530 --> 01:02:10,290
I shouldn't be an absentee father in the morning, especially with a new child.

1154
01:02:10,410 --> 01:02:10,730
Wow.

1155
01:02:11,550 --> 01:02:12,490
Holy crap.

1156
01:02:12,690 --> 01:02:12,950
I agree.

1157
01:02:12,950 --> 01:02:14,830
Rabbit Hole Recap, 379.

1158
01:02:14,910 --> 01:02:15,390
Stay humble.

1159
01:02:15,550 --> 01:02:16,130
Stack gold.

1160
01:02:17,550 --> 01:02:19,970
Pringle Mac, 95,000 sats.

1161
01:02:21,590 --> 01:02:25,050
been MIA, busy being the change we want to see in the world, but still

1162
01:02:25,080 --> 01:02:27,160
Never miss a show. Prison Island time makes

1163
01:02:27,160 --> 01:02:29,100
live rips a bitch.

1164
01:02:29,820 --> 01:02:30,800
Keep back the basic

1165
01:02:30,800 --> 01:02:31,700
principles.

1166
01:02:33,120 --> 01:02:35,360
Alive. Stay humble or get wrecked.

1167
01:02:36,060 --> 01:02:37,180
See you two freaks in

1168
01:02:37,180 --> 01:02:39,080
person somewhere in 26.

1169
01:02:39,360 --> 01:02:40,420
Love, Syl and Tony.

1170
01:02:40,780 --> 01:02:42,620
Syl and Tony, we love you. Thanks, Syl and Tony.

1171
01:02:43,120 --> 01:02:45,240
Appreciate you guys. We need to catch up.

1172
01:02:45,240 --> 01:02:46,140
Ride or die.

1173
01:02:47,120 --> 01:02:49,320
Stimmy. Hashtag 40 hours

1174
01:02:49,320 --> 01:02:51,280
per week of headphones on.

1175
01:02:51,380 --> 01:02:53,240
22,222

1176
01:02:53,760 --> 01:02:54,860
SATs 2s across the board.

1177
01:02:54,860 --> 01:03:00,300
pound drum boost shout out to ben working in senator ben's office great to meet you this week

1178
01:03:00,300 --> 01:03:05,560
there are freaks in bitcoin bends everywhere this is what winning looks like like we said earlier

1179
01:03:05,560 --> 01:03:12,640
love it there's up only yeah sure they got bought for 25 million dollars or one season

1180
01:03:12,640 --> 01:03:19,340
but are did they have as much influence behind the scenes as rabbit hole recap mafia i don't think

1181
01:03:19,340 --> 01:03:22,060
It's a good name, too, up only.

1182
01:03:22,720 --> 01:03:24,940
I mean, besides the fact that it's pretty much gone,

1183
01:03:25,300 --> 01:03:27,980
all their positions have gone down only.

1184
01:03:29,040 --> 01:03:30,640
But good name.

1185
01:03:32,100 --> 01:03:35,220
Gert, ADIQ, 21,000 sats.

1186
01:03:35,300 --> 01:03:36,980
Hi, Freaks. I'm appealing for your help.

1187
01:03:37,040 --> 01:03:38,880
A catastrophic node failure has occurred,

1188
01:03:39,000 --> 01:03:41,380
meaning I'm out of a lot of sats.

1189
01:03:41,540 --> 01:03:44,300
Can I ask that if you have a channel to my node,

1190
01:03:44,300 --> 01:03:46,060
which is Mickey Weir

1191
01:03:46,060 --> 01:03:47,580
M-I-C-K-E-Y

1192
01:03:47,580 --> 01:03:49,480
W-E-I-R

1193
01:03:49,480 --> 01:03:51,500
can you please force close the channel

1194
01:03:51,500 --> 01:03:52,760
so I might recover my fun

1195
01:03:52,760 --> 01:03:56,220
help a fellow freak out from a bad situation

1196
01:03:56,220 --> 01:03:57,200
I appreciate karma

1197
01:03:57,200 --> 01:04:00,140
and we'll put it back out into the world

1198
01:04:00,140 --> 01:04:00,920
love you all

1199
01:04:00,920 --> 01:04:01,720
dang

1200
01:04:01,720 --> 01:04:03,260
well that's fucked up

1201
01:04:03,260 --> 01:04:04,780
hope for the best there

1202
01:04:04,780 --> 01:04:05,840
yeah

1203
01:04:05,840 --> 01:04:08,340
beware freaks

1204
01:04:08,340 --> 01:04:11,400
I've lost a lot of stats running lightning notes freaks

1205
01:04:11,400 --> 01:04:13,620
if you don't want to deal with that

1206
01:04:14,300 --> 01:04:28,872
consider listening to the rip that I had with Francis on Sill Dispatch your favorite podcast app Did you guys touch on this Touch on AWS Was it going on as you guys were

1207
01:04:28,872 --> 01:04:32,752
Bull Wallet just uses Liquid at rest.

1208
01:04:32,892 --> 01:04:34,092
It's like Moon, but with Liquid.

1209
01:04:35,012 --> 01:04:35,492
Spoiler.

1210
01:04:37,392 --> 01:04:41,012
Instead of doing on-chain swaps where your fees get ridiculous,

1211
01:04:41,472 --> 01:04:42,832
it just uses Liquid swaps.

1212
01:04:42,832 --> 01:04:45,052
which are like a regular

1213
01:04:45,052 --> 01:04:47,032
liquid transactions like 33 sats

1214
01:04:47,032 --> 01:04:49,112
for a transaction super cheap.

1215
01:04:50,852 --> 01:04:51,572
I like the trade-off.

1216
01:04:51,752 --> 01:04:52,992
And then of course you have

1217
01:04:52,992 --> 01:04:55,212
the trade-off is that you have to trust

1218
01:04:55,212 --> 01:04:56,772
Liquid but

1219
01:04:56,772 --> 01:04:59,212
he has an auto-swap feature in the app so once

1220
01:04:59,212 --> 01:05:01,152
you hit 2 million sats, a million of the sats

1221
01:05:01,152 --> 01:05:01,892
go to on-chain

1222
01:05:01,892 --> 01:05:05,012
so that you reduce your exposure.

1223
01:05:06,012 --> 01:05:07,152
Which I like that idea.

1224
01:05:07,252 --> 01:05:08,332
I like the idea of

1225
01:05:08,332 --> 01:05:11,192
graduating people into stronger custody.

1226
01:05:11,192 --> 01:05:13,372
be. That's my threshold

1227
01:05:13,372 --> 01:05:15,672
for fat UTXO, million sat UTXO.

1228
01:05:15,812 --> 01:05:16,312
That's a good one.

1229
01:05:16,912 --> 01:05:19,392
It's a good one. I think you can probably push it,

1230
01:05:19,892 --> 01:05:21,412
but a million solid.

1231
01:05:22,172 --> 01:05:22,992
You can probably put

1232
01:05:22,992 --> 01:05:25,272
fee-wise, you can probably push it to

1233
01:05:25,272 --> 01:05:27,492
100k sats, but I like a million

1234
01:05:27,492 --> 01:05:27,872
sats.

1235
01:05:29,352 --> 01:05:30,192
Thousand bucks.

1236
01:05:32,712 --> 01:05:33,152
No.

1237
01:05:33,632 --> 01:05:34,552
Ten thousand bucks.

1238
01:05:35,152 --> 01:05:36,972
Maybe by the end of next year. Who knows?

1239
01:05:38,972 --> 01:05:39,412
Dude,

1240
01:05:39,412 --> 01:05:42,332
Dude, people are fading a million dollar Bitcoin right now.

1241
01:05:42,472 --> 01:05:43,172
Have you noticed that?

1242
01:05:43,852 --> 01:05:44,032
Yeah.

1243
01:05:44,272 --> 01:05:44,692
Bullish as fuck.

1244
01:05:45,132 --> 01:05:45,692
I love that.

1245
01:05:45,912 --> 01:05:46,772
I love that sentiment.

1246
01:05:47,192 --> 01:05:48,992
People are really down on the coin right now.

1247
01:05:49,112 --> 01:05:50,012
That's when I'm most bullish.

1248
01:05:52,372 --> 01:05:53,492
That's when I'm most bullish.

1249
01:05:55,632 --> 01:05:57,092
I'm not going to tell you to smash buy,

1250
01:05:57,192 --> 01:05:59,472
because historically telling people to smash buy on the show

1251
01:05:59,472 --> 01:06:04,312
has led to a precipitous decline in the price.

1252
01:06:04,672 --> 01:06:06,732
Consider staying humble and sagging sides about it.

1253
01:06:07,332 --> 01:06:07,652
Yes.

1254
01:06:07,652 --> 01:06:10,272
and we will end on that because my boys are getting yelled at

1255
01:06:10,272 --> 01:06:11,632
and I think my wife

1256
01:06:11,632 --> 01:06:12,212
much love

1257
01:06:12,212 --> 01:06:14,412
peace and love freaks