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What's up freaks? This rip of RHR was brought to you by our good friends at CoinKite.

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They produce the Cold Card Q, my favorite hardware wallet. It's got two secure enclaves,

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it's got a full screen, full keyboard here. As you can see, if you're watching, if you can't watch,

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just imagine something that looks like a BlackBerry. It allows you to create private

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public key pairs offline in an arrogant fashion. Never have to connect the Cold Card Q to an

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internet device you can sign transactions and pspts remotely in the most secure fashion if you're a

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bitcoin power user and you're looking for the best security go pick up a cold card queue and go to

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coin kite.com find the cold card queue there i think you go to cold card.com as well use the code

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rhr for five percent off step up your security get a cold card queue this route was also brought to

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by our good friends at stackwork if you're looking for a great way to make kyc free sets stackwork

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has bounties go to stackwork.ai find their bounties page and contribute to the bounties

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you can make bitcoin kyc free for completing the bounties if you're a developer looking to scoop up

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some easy sets go check out the bounties contribute to them and stack some sets stackwork.ai

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Matt and I have been talking about privacy and the importance of using a VPN for seven years now, literally seven years.

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I believe at least once every episode or two.

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It's like, hey, make sure you're running a VPN.

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I think it's especially important today where you have governments in the UK, other parts of Europe, all across the world, really trying to introduce digital ID and curbing speech with hate speech laws.

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Make sure you're protecting your privacy and shielding yourself from government surveillance as you're perusing the web.

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our VPN of choice here at RHR is Obscura is built by a Bitcoiner for Bitcoiners. Carl Dung

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did some very critical work for Bitcoin back in the day, but he decided to shift his focus to

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bring privacy to everybody with Obscura. It is a VPN that cannot log literally by the way it's

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designed. A lot of VPNs will hand ways say we're not logging. We're not logging. You can't trust

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them. You want the VPN that cannot log. That is Obscura. Go to Obscura.net. Use the code RHR for

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25% off when you sign up any of their deals. Make sure you're using it, particularly if you're in

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one of these countries where the governments are becoming extremely censorious and targeting

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citizens that exhibit wrong think you should be running a VPN. That VPN should be obscura,

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obscura.net, code RHR, 25% off. This rip was brought to you by our official electrolyte

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sponsor here at RHR, Salt of the Earth. You've been hearing Matt and I talk about it quite a bit.

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I drink multiple packets of it a day

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You gotta stay hydrated

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That's why my face looks so good

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That's why I'm getting buff

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I'm able to get to the gym more

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Because I'm hydrated

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Matt, he's looking incredible

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I'm sure you've all noticed it

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You wanna know why?

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Salt of the earth, baby

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Go to drinkssauté.com

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Use the code RHR

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You're gonna get 15% off

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I'm dead serious

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It hasn't made my life way better

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My wife, she's right behind me right now laughing

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But she's laughing because she knows it's true

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She drinks like seven a day

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I drink a few a day

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maybe seven a day too. Matt, I don't even want to tell you how much he's drinking. It's good.

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It keeps you hydrated. It keeps you alert. Keeps you ready to go. Drink saute.com. That's D-R-I-N-K-S-O-T-E.com.

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Use the code RHR for 15% off any order.

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

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If you talk about a Fed just gone nuts, all the central banks going nuts.

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So it's all acting like safe haven.

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I believe that in a world where central bankers 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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Can the devs do something?

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below 90k again

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did you see all the

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rumors are circulating that all the

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Zcash devs quit

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I don't think there are rumors

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I think there was a walkout

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the board of directors of the electric

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company

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trying to push through things

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that the Zebs

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we're calling them Zebs now

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Zcash devs did not like they all left

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in protest

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is that what they call them do they actually call them Zebs

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No, I just made that up.

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Yeah, Zcash is down, but it looks like 15% today on that news.

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Well, guess what?

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They're going to create their own electric company.

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They're going to come back and they're going to be better than ever.

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And the Winklevoss twins are going to say,

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hey, we're backing these guys.

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Zcash is stronger than that.

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That's what I saw.

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That's why I said it was like a rumor, right?

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because they're not actually quitting Zcash.

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They're just launching a new company.

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You don't want to build the roadmap

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that the board of directors

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at Electric Company is putting forth.

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It's such a fucking shitcoin.

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Anyway, for your stable stack side,

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Zcash is a shitcoin.

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But yeah, on the topic of,

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I mean, I think

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a lot of us were pretty bullish this week

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and it'd be nice if the Bitcoin devs

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could fix the Bitcoin price.

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Thank you.

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Well, maybe with the Zcash walkout, we just need to convince them, like, hey, look at the Bitcoin price.

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There's a ton of market cap here, a lot of upside potential.

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Maybe you should come fix the Bitcoin price.

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We got to convince the Zebs to become Bebs, right?

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Yes.

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Yet.

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And here, what a week.

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I was thinking yesterday, I was like, all right, what are we going to talk about?

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and then thought for 10 seconds.

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I was like, oh, there's a lot going on this week.

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We've got a tight rip, coffee rip.

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Thank you guys for joining us.

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As you may be able to tell, that is on the road.

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I've got a TFTC to record at 10.30 a.m. Eastern,

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and the schedule is conflicted, so we have a coffee rip.

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Shout out to you, Carlos.

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I know these are your favorite rips.

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I hope you're in the live chat right now.

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but we'll jump right in the Clark's dashboard.

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Carlos missing a coffee rep.

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You hate to say it.

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Ryan's in the dashboard.

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I didn't,

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I forgot to give the freaks a heads up.

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So that's on me traveling and I've lost my voice by the way,

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freaks.

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So apologies on that front,

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but anyway,

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dashboard continue.

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Current price of Bitcoin is 89,740 cuck bucks.

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One cuck bucks and get you 1,114.

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sats were to 1.79 trillion dollar market cap we were at block height 931 413 which means we had

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a difficulty adjustment between last week and this week it was a negative it happened earlier today

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uh we're at 21 blocks ago so earlier this morning negative 1.2 percent difficulty adjustment

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blocks are coming in at 10 minutes and 11 seconds on average.

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We have 1,995 blocks still.

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The next adjustment estimated to be as of right now on January 22nd,

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2026 and not reliable estimate here,

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considering we're only 21 blocks into this difficulty epoch,

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but it's looking like a negative 35% downward difficulty adjustment.

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Blocks been coming in at 16 minutes and 44 seconds on average since we,

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adjusted earlier today.

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There are 7,665

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transactions in Clark's

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mempool, which is high, which

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would make sense if blocks have been coming in

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16 minutes and 30 seconds on average.

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If we go over to mempool.space,

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we'll see they have 85,754

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transactions. And their mempool

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getting expensive, high priority,

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four sats per vbyte,

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medium priority, two sats per vbyte. If you're willing to wait,

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one sat per vbyte will

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suffice.

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That is the state of the network.

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Did you see our colleague at 1031, John Arnold,

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sent us a teeny-weeny zap?

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A teeny-weeny zap?

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What did you zap us?

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What did you zap us?

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I don't have a...

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John, can you zap with size, please?

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210.

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The Razor Fund.

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Wow, I'm the...

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John.

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I think he's telling me to shave.

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I think you should send me more money

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if you want me to shave, John.

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I think he wants you to shave your chest.

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I think this is the most buttons you've had unbuttoned.

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He's getting some chest hair visibility.

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I actually buttoned them up before he went live.

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And I see silent.link zapped us 42,000 sets.

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Thank you, sir.

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I love silent.link.

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It's a fantastic service.

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You see him for Bitcoin.

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It is.

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Bitcoin medium of exchange.

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Like I said, I'm

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recording an episode of TFTC

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about an hour and 15 minutes from now

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with Nick Slaney from MoneyDevKit.

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You don't have it on the list, but maybe

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you have one of them on the list.

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I think

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Bitcoin is a medium of exchange.

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Obviously

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not as popular

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as many would lead you to believe,

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but if you look at this week,

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or like the last month particularly

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BitChat which we have on the list

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we'll talk about that more in depth

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but they've added

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the ability to send eCash

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via the CashU protocol

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within BitChat

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there was a demo floating around

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of Cali doing that

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earlier this week we had Rumble

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release there

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oh it's a great wallet

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yeah

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creator wallets

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non-custodial

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it's a big one

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they also have buy sell

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or just buy on it, right?

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They have MoonPay buy, I think.

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I wouldn't be shocked if they have MoonPay buy.

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No, they definitely have MoonPay buy

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because everyone's favorite Grumpus

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was complaining about the spread on Twitter about it.

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Favorite Grumpus? Who's that?

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Well, Pleditor.

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Oh.

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He called it a scam because there's a spread.

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just don't buy

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don't buy the rumble if you don't want to

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everything's got to be perfect

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if it's not perfect

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you're a scammer

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shout out to Mav21

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21,000 zap

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in the live stream

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I think the rumble news is pretty fucking big

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it's pretty massive

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did you see

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did you see that they

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so rumble

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while it is

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is on-chain Bitcoin, Tether, and Tether Gold.

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And they're going to add Lightning soon, hopefully.

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They used Tether's wallet dev kit to build the whole thing,

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and they want it to be self-custody.

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So it's difficult to set up easy-to-use self-custody Lightning wallets,

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so they're working on it.

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But did you see that they came out with the SATS competitor

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for Tether Gold, Skudos?

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No. What is it?

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then

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I think it's one one thousandth

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of a tether gold is called

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a scudo now

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which is I guess a callback to a

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Roman coin called of the same name

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so

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you heard it here first Freak stay on the stack

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scudos

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it's not as

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not as catchy

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scudo

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a new on-chain unit where one scudo

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equals one one thousandth of x-a-u-t

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scudo

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I think in the announcement they call it the people's unit

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I kind of like that

257
00:12:19,760 --> 00:12:21,380
the people's unit

258
00:12:21,380 --> 00:12:24,900
it's got a little innuendo to it

259
00:12:24,900 --> 00:12:26,220
yeah

260
00:12:26,220 --> 00:12:30,800
yeah so

261
00:12:30,800 --> 00:12:32,240
I think it's big

262
00:12:32,240 --> 00:12:34,540
I'm recording with Nick Slaney from Money Dev Kit

263
00:12:34,540 --> 00:12:35,420
at 10.30

264
00:12:35,420 --> 00:12:38,340
I'm sure many of you have seen

265
00:12:38,340 --> 00:12:42,280
him vibe coding on Replit.

266
00:12:42,400 --> 00:12:44,560
I think they have an official money dev kit

267
00:12:44,560 --> 00:12:46,000
sort of integration with Replit.

268
00:12:46,140 --> 00:12:47,000
And so if you're vibe coding,

269
00:12:47,440 --> 00:12:49,820
you can basically incorporate what they're doing

270
00:12:49,820 --> 00:12:52,480
to receive Bitcoin in a non-custodial fashion

271
00:12:52,480 --> 00:12:54,140
rather trivially as well

272
00:12:54,140 --> 00:12:56,700
for your vibe coded apps if you're out there.

273
00:12:57,660 --> 00:12:58,620
Yeah, MDK is cool.

274
00:12:59,200 --> 00:13:04,440
I like what Nick and his co-founder are building over there.

275
00:13:06,300 --> 00:13:08,200
So good week for the Minium Exchange.

276
00:13:08,340 --> 00:13:09,240
Even though the price is down.

277
00:13:09,440 --> 00:13:10,480
Maybe that's why the price is down.

278
00:13:10,560 --> 00:13:11,680
People are spending Bitcoin

279
00:13:11,680 --> 00:13:13,680
to people who don't want to hold it.

280
00:13:14,480 --> 00:13:15,760
The reason the price is down

281
00:13:15,760 --> 00:13:17,140
is because everyone's buying eSIMs

282
00:13:17,140 --> 00:13:18,100
on silent.link.

283
00:13:20,300 --> 00:13:21,280
Topping up the data.

284
00:13:22,820 --> 00:13:24,300
That would mean that silent.link

285
00:13:24,300 --> 00:13:25,100
is dumping immediately.

286
00:13:25,280 --> 00:13:26,520
I find that hard to believe.

287
00:13:26,540 --> 00:13:27,160
I doubt it.

288
00:13:27,460 --> 00:13:28,020
Yeah, it's just,

289
00:13:28,200 --> 00:13:29,880
I mean, he runs BTCPay servers,

290
00:13:30,060 --> 00:13:32,160
so I assume he doesn't.

291
00:13:33,240 --> 00:13:33,420
Yeah.

292
00:13:34,420 --> 00:13:35,240
All right, to the list,

293
00:13:35,320 --> 00:13:36,760
Maduro Raid, number one.

294
00:13:38,340 --> 00:13:43,200
Do you think they waited until after RHR to scoop them up?

295
00:13:43,560 --> 00:13:46,620
I think they knew that we would have been all over it

296
00:13:46,620 --> 00:13:55,974
had they done it on Thursday night Middle of the night Was it Friday into Saturday or Saturday into Sunday It was right after RHR

297
00:13:58,294 --> 00:13:59,774
Traditional markets were closed, right?

298
00:13:59,834 --> 00:14:00,874
Like only Bitcoin was open.

299
00:14:01,934 --> 00:14:03,974
So yeah, maybe it was Friday night,

300
00:14:04,854 --> 00:14:06,174
2 a.m. Friday night or something.

301
00:14:07,114 --> 00:14:07,354
Yeah.

302
00:14:07,474 --> 00:14:08,354
On Saturday morning.

303
00:14:09,294 --> 00:14:10,134
A lot of speculation.

304
00:14:13,974 --> 00:14:14,854
What's your take?

305
00:14:17,194 --> 00:14:20,334
There's a couple different angles here.

306
00:14:21,614 --> 00:14:22,594
I mean, all the angles.

307
00:14:23,114 --> 00:14:25,934
Obviously, we talked about it a couple weeks ago.

308
00:14:26,474 --> 00:14:30,134
Like the boats, the narco boats, probably just a facade.

309
00:14:30,734 --> 00:14:32,574
I like the UAV take.

310
00:14:33,714 --> 00:14:37,694
Obviously, Venezuela has a ton of natural resources,

311
00:14:37,694 --> 00:14:40,934
oil, gas, gold, rare earth minerals.

312
00:14:41,894 --> 00:14:42,134
Silver.

313
00:14:43,034 --> 00:14:43,474
Silver.

314
00:14:43,814 --> 00:14:45,174
Guyana is there.

315
00:14:45,594 --> 00:14:46,154
Scudos.

316
00:14:47,194 --> 00:14:48,854
A lot of scudos.

317
00:14:49,734 --> 00:14:52,974
And then, I don't know, there's the QAnon.

318
00:14:53,134 --> 00:15:00,374
I don't know if it's QAnon even, but there's theories that election fraud was being run via Venezuela.

319
00:15:01,974 --> 00:15:02,394
I don't know.

320
00:15:03,114 --> 00:15:04,174
Do you want to bet on it?

321
00:15:04,954 --> 00:15:06,514
No, I don't want to bet on it.

322
00:15:06,514 --> 00:15:15,494
But, I don't know, the whole, I mean, in and out within four hours, and then you had this sort of.

323
00:15:15,534 --> 00:15:16,454
I mean, it's pretty impressive.

324
00:15:17,194 --> 00:15:18,294
Very impressive.

325
00:15:18,414 --> 00:15:19,994
Well, that's where we're getting to.

326
00:15:21,774 --> 00:15:24,114
Then you had the perp walk where Maduro was wearing

327
00:15:24,114 --> 00:15:27,174
15 different outfits in the span of 24 hours.

328
00:15:27,914 --> 00:15:30,034
And he did not seem perturbed at all.

329
00:15:30,114 --> 00:15:31,274
He actually seemed pretty happy.

330
00:15:32,554 --> 00:15:34,934
I don't know.

331
00:15:34,994 --> 00:15:36,214
You got to play it that way, though.

332
00:15:37,014 --> 00:15:37,414
Regardless.

333
00:15:42,274 --> 00:15:47,094
You think it was an organized, negotiated,

334
00:15:47,194 --> 00:15:48,974
trade, right? Yeah.

335
00:15:49,394 --> 00:15:51,194
That's the vibe I'm getting. I don't

336
00:15:51,194 --> 00:15:53,294
know with any degree of certainty.

337
00:15:54,274 --> 00:15:55,194
Well, I don't know how

338
00:15:55,194 --> 00:15:56,374
we can prove that or not.

339
00:15:57,574 --> 00:15:59,354
Maybe it'll be more clear in the future.

340
00:16:00,334 --> 00:16:01,254
But we can definitely

341
00:16:01,254 --> 00:16:03,214
prove whether or not your theory of

342
00:16:03,214 --> 00:16:04,574
him

343
00:16:04,574 --> 00:16:07,294
being involved in election fraud

344
00:16:07,294 --> 00:16:09,194
and turning

345
00:16:09,194 --> 00:16:11,034
state's witness or whatever, and I'd be

346
00:16:11,034 --> 00:16:13,154
happy to bet that I don't think that's the case.

347
00:16:13,394 --> 00:16:13,894
But we'll see.

348
00:16:15,474 --> 00:16:16,034
I want

349
00:16:16,034 --> 00:16:18,374
Marty had to pay me 100,000

350
00:16:18,374 --> 00:16:20,434
sats this week because he lost the BipBond's

351
00:16:20,434 --> 00:16:22,114
bet. So I'm ready to

352
00:16:22,114 --> 00:16:23,294
re-up with a new bet.

353
00:16:24,154 --> 00:16:25,094
You went into waste-lice.

354
00:16:26,294 --> 00:16:26,474
I

355
00:16:26,474 --> 00:16:29,174
don't know.

356
00:16:30,174 --> 00:16:31,494
A couple things.

357
00:16:32,514 --> 00:16:34,034
First of all, Polymarket

358
00:16:34,034 --> 00:16:34,754
was wild

359
00:16:34,754 --> 00:16:38,314
in the lead-up

360
00:16:38,314 --> 00:16:40,154
to it. There was some

361
00:16:40,154 --> 00:16:41,494
insider that

362
00:16:41,494 --> 00:16:43,794
Polymarket working and designed

363
00:16:43,794 --> 00:16:45,694
created a fresh account.

364
00:16:46,034 --> 00:16:50,014
but like 400k on Maduro getting captured,

365
00:16:52,114 --> 00:16:54,814
which I'll just keep repeating

366
00:16:54,814 --> 00:16:56,934
is like just the wildest time we live in

367
00:16:56,934 --> 00:16:58,194
with all these prediction markets

368
00:16:58,194 --> 00:16:59,594
and the implications of them.

369
00:17:00,854 --> 00:17:02,834
Then there was the other polymarket piece

370
00:17:02,834 --> 00:17:04,434
that like a bunch of people lost money

371
00:17:04,434 --> 00:17:05,994
on betting on an invasion

372
00:17:05,994 --> 00:17:07,814
because this was technically not an invasion.

373
00:17:08,274 --> 00:17:09,474
And I just remind everybody,

374
00:17:10,114 --> 00:17:11,274
always read the fine print

375
00:17:11,274 --> 00:17:13,214
if you are going to gamble on these things.

376
00:17:13,214 --> 00:17:17,034
and the fine print in that case was actually very clear.

377
00:17:17,134 --> 00:17:19,534
It was like the U.S. has to hold territory in Venezuela

378
00:17:19,534 --> 00:17:21,154
for it to be counted as an invasion,

379
00:17:21,914 --> 00:17:23,274
which is clearly not the case.

380
00:17:24,354 --> 00:17:28,874
They did like this organized handoff, right?

381
00:17:28,874 --> 00:17:34,394
It's like Maria Mercado or whatever,

382
00:17:34,674 --> 00:17:38,974
the Venezuelan opposition leader that won the Nobel Prize.

383
00:17:39,214 --> 00:17:41,694
They like Trump like completely rugged her

384
00:17:41,694 --> 00:17:43,694
and then just put in...

385
00:17:44,594 --> 00:17:47,634
Delcy, who was the second in charge.

386
00:17:48,574 --> 00:17:54,794
Yeah, Maduro's incredibly corrupt ballplayer over there.

387
00:17:56,054 --> 00:17:58,054
Yeah, did you read the background on why they made that decision?

388
00:17:58,254 --> 00:18:01,854
Apparently they were vetting Machado

389
00:18:01,854 --> 00:18:07,654
to see whether or not she could actually come in and maintain power.

390
00:18:08,114 --> 00:18:09,554
She's not even in the country.

391
00:18:10,494 --> 00:18:10,714
Yeah.

392
00:18:11,694 --> 00:18:17,874
Yeah, I mean, it was pretty weak on her part.

393
00:18:17,954 --> 00:18:20,914
Did you see she dedicated her Nobel Prize to Trump?

394
00:18:21,874 --> 00:18:22,434
Yeah.

395
00:18:23,994 --> 00:18:25,894
Yeah, I mean, we'll see how it plays out, right?

396
00:18:27,334 --> 00:18:32,274
There's a long, long history of American military interventions

397
00:18:32,274 --> 00:18:36,554
in South America and other places throughout the world

398
00:18:36,554 --> 00:18:37,614
that have gone horribly.

399
00:18:37,614 --> 00:18:41,194
but it does seem

400
00:18:41,194 --> 00:18:43,714
like Hegseth

401
00:18:43,714 --> 00:18:45,154
and the Trump administration

402
00:18:45,154 --> 00:18:46,434
are trying to be

403
00:18:46,434 --> 00:18:47,254
very deliberate

404
00:18:47,254 --> 00:18:47,974
and reserved

405
00:18:47,974 --> 00:18:49,154
in how they handle

406
00:18:49,154 --> 00:18:49,994
this situation

407
00:18:49,994 --> 00:18:52,514
and pragmatic

408
00:18:52,514 --> 00:18:53,314
which

409
00:18:53,314 --> 00:18:55,494
might not be

410
00:18:55,494 --> 00:18:56,274
the best outcome

411
00:18:56,274 --> 00:18:57,554
for

412
00:18:57,554 --> 00:19:00,534
Venezuelan

413
00:19:00,534 --> 00:19:01,734
opposition

414
00:19:01,734 --> 00:19:02,594
or freedom fighters

415
00:19:02,594 --> 00:19:02,954
but

416
00:19:02,954 --> 00:19:05,014
could be

417
00:19:05,014 --> 00:19:06,254
a very strategic

418
00:19:06,254 --> 00:19:07,174
outcome for

419
00:19:07,174 --> 00:19:09,474
American interests.

420
00:19:10,034 --> 00:19:12,034
And one thing that was learned

421
00:19:12,034 --> 00:19:14,334
in Iraq

422
00:19:14,334 --> 00:19:15,794
was we,

423
00:19:15,974 --> 00:19:16,294
we,

424
00:19:17,194 --> 00:19:17,774
fuck,

425
00:19:18,014 --> 00:19:19,914
George Bush and his administration

426
00:19:19,914 --> 00:19:21,874
completely disbanded

427
00:19:21,874 --> 00:19:23,514
the entire Ba'ath Party,

428
00:19:23,774 --> 00:19:25,034
the entire bureaucracy,

429
00:19:25,674 --> 00:19:26,814
fired the entire army.

430
00:19:26,914 --> 00:19:29,134
The whole army then became ISIS and shit

431
00:19:29,134 --> 00:19:31,334
because you had a bunch of young,

432
00:19:31,454 --> 00:19:32,954
trained guys that were unemployed.

433
00:19:34,294 --> 00:19:34,994
And it was part of,

434
00:19:35,354 --> 00:19:37,074
it was a significant part of the reason

435
00:19:37,074 --> 00:19:39,134
why everything was like an absolute disaster there.

436
00:19:40,054 --> 00:19:41,694
So you can kind of see the reasoning

437
00:19:41,694 --> 00:19:46,094
that if they have a corrupt, established leader

438
00:19:46,094 --> 00:19:47,414
that's already in place

439
00:19:47,414 --> 00:19:50,974
with all the mechanisms

440
00:19:50,974 --> 00:19:52,974
that she has to control the country

441
00:19:52,974 --> 00:19:54,014
and operate the country,

442
00:19:54,234 --> 00:19:55,574
that it could be very, you know,

443
00:19:55,634 --> 00:19:56,574
much more pragmatic

444
00:19:56,574 --> 00:20:00,494
than trying to do a complete regime change

445
00:20:00,494 --> 00:20:02,654
and nation building type of situation, right?

446
00:20:03,474 --> 00:20:03,894
Yes.

447
00:20:04,174 --> 00:20:05,874
And it aligns very well

448
00:20:05,874 --> 00:20:09,934
with the national security strategy that was written,

449
00:20:10,274 --> 00:20:12,254
I believe, in the beginning of December, late November.

450
00:20:15,074 --> 00:20:19,014
I mean, every president, I believe when they come in,

451
00:20:19,054 --> 00:20:22,194
they have to write a national security strategy.

452
00:20:22,874 --> 00:20:27,834
And historically, they've just been part of the process.

453
00:20:27,914 --> 00:20:28,894
What's the word I'm looking for?

454
00:20:29,934 --> 00:20:31,414
It's like going through the motions.

455
00:20:31,614 --> 00:20:33,234
You write one, and it's like, okay, here's the thing.

456
00:20:33,234 --> 00:20:34,774
We won't reference it.

457
00:20:34,774 --> 00:20:43,774
But this one was a stark sort of delineation from national security strategies and prior administrations.

458
00:20:44,414 --> 00:20:46,994
And he basically said, hey, we want to bring back the Monroe Doctrine.

459
00:20:47,134 --> 00:20:48,994
We don't want to be in the Middle East.

460
00:20:49,274 --> 00:20:51,934
No, it's the Donroe Doctrine. Get it right.

461
00:20:51,954 --> 00:20:53,954
The Donroe Doctrine is here.

462
00:20:54,154 --> 00:20:59,234
Many people were wondering if that was just posturing and if they would follow up.

463
00:20:59,234 --> 00:21:02,854
and I think this Maduro extraction

464
00:21:02,854 --> 00:21:04,674
is a validation of like,

465
00:21:04,754 --> 00:21:05,654
yeah, no, we're dead serious

466
00:21:05,654 --> 00:21:07,174
about this national security strategy.

467
00:21:07,334 --> 00:21:08,634
We want to own the Western Hemisphere.

468
00:21:08,854 --> 00:21:10,074
And they're already talking about Cuba,

469
00:21:10,474 --> 00:21:12,994
Colombia, Nicaragua, follow-ups.

470
00:21:13,014 --> 00:21:13,634
And that's what I worry.

471
00:21:13,734 --> 00:21:16,094
Let's not get above our skis here.

472
00:21:18,074 --> 00:21:21,094
They are definitely going to get above their skis.

473
00:21:21,194 --> 00:21:22,794
I think they're feeling very cocky right now.

474
00:21:23,754 --> 00:21:27,554
I mean, Venezuela too is very resource-rich.

475
00:21:29,234 --> 00:21:38,034
And the Chavez government has been very influential in then funding a lot of these other dictatorships, right?

476
00:21:38,034 --> 00:21:48,034
So him being removed already immediately has impacts on Cuba and Nicaragua.

477
00:21:50,374 --> 00:21:52,314
China, Russia and Iran too.

478
00:21:52,794 --> 00:21:53,674
Obviously, yeah.

479
00:21:53,734 --> 00:21:54,874
So it should be interesting.

480
00:21:56,174 --> 00:21:58,494
A while times – I mean I just want to be absolutely clear.

481
00:21:58,494 --> 00:22:23,814
If this wasn't a negotiated deal with a staged abduction, and if it's even close to what happened on the surface just from an execution point of view, it is absolutely wild what they pulled off in terms of an outcome.

482
00:22:23,814 --> 00:22:27,334
There was no U.S. military losses.

483
00:22:29,614 --> 00:22:32,114
I think the reports are that they killed

484
00:22:32,114 --> 00:22:35,074
like 32 Cuban elite security guards,

485
00:22:35,414 --> 00:22:37,474
like their special forces in the compound.

486
00:22:37,914 --> 00:22:40,274
And then they abducted him and his wife

487
00:22:40,274 --> 00:22:42,234
and then brought him back to New York for trial.

488
00:22:44,334 --> 00:22:48,674
And supposedly his wife is heavily involved

489
00:22:48,674 --> 00:22:50,454
in the secret police and stuff too.

490
00:22:50,454 --> 00:22:53,154
so like she's not like an innocent

491
00:22:53,154 --> 00:22:55,094
wife figure

492
00:22:55,094 --> 00:22:59,234
which is part of the reason why at least they say

493
00:22:59,234 --> 00:23:00,654
that they took her as well

494
00:23:00,654 --> 00:23:03,394
but that's I mean that's a pretty

495
00:23:03,394 --> 00:23:07,414
there's like a there's a bunch of situations where that plays

496
00:23:07,414 --> 00:23:10,154
out with you know helicopters going down

497
00:23:10,154 --> 00:23:12,374
long invasion what about just

498
00:23:12,374 --> 00:23:16,594
the dichotomy of hitting you know

499
00:23:16,594 --> 00:23:19,574
like just cruise missiling the compound versus

500
00:23:19,574 --> 00:23:21,714
like actually trying to go in and abduct.

501
00:23:22,934 --> 00:23:23,874
Pretty wild.

502
00:23:24,974 --> 00:23:25,854
Very wild.

503
00:23:27,374 --> 00:23:30,254
What do you think of the Bitcoin theories in this one?

504
00:23:31,634 --> 00:23:34,594
Oh yeah, then there's the rumor that there's 600,000 Bitcoin.

505
00:23:36,794 --> 00:23:38,534
They probably have a stash of Bitcoin.

506
00:23:39,194 --> 00:23:41,594
600,000 seems aggressive and large.

507
00:23:42,334 --> 00:23:46,154
That would take a lot of discipline for them to stack and hold it

508
00:23:46,154 --> 00:23:51,394
when they're a poorly run corrupt government

509
00:23:51,394 --> 00:23:54,934
is not the best vehicle for stacking large amounts.

510
00:23:56,274 --> 00:23:58,754
But there probably is a decent amount of Bitcoin there.

511
00:23:58,754 --> 00:24:02,234
I wonder, we obviously have no idea who controls it.

512
00:24:03,074 --> 00:24:05,754
A bunch of that Bitcoin was seized by Maduro

513
00:24:05,754 --> 00:24:07,994
when he stole it from citizens, right?

514
00:24:08,114 --> 00:24:09,754
From specifically Bitcoin miners.

515
00:24:09,934 --> 00:24:12,934
But then other Bitcoin is believed to have been done

516
00:24:12,934 --> 00:24:14,614
with oil deals, which makes sense.

517
00:24:16,154 --> 00:24:20,954
because Bitcoin is ideal money

518
00:24:20,954 --> 00:24:22,554
in a non-trusted,

519
00:24:22,894 --> 00:24:24,374
when you don't trust your counterparties.

520
00:24:26,074 --> 00:24:27,294
And then presumably,

521
00:24:27,494 --> 00:24:28,474
we've known for a while

522
00:24:28,474 --> 00:24:29,714
that the Maduro administration

523
00:24:29,714 --> 00:24:31,534
was mining Bitcoin themselves.

524
00:24:32,594 --> 00:24:34,614
There's a couple of interesting aspects here

525
00:24:34,614 --> 00:24:35,494
on the Bitcoin side.

526
00:24:36,434 --> 00:24:37,634
First of all,

527
00:24:38,294 --> 00:24:39,674
to the quantum piece,

528
00:24:39,854 --> 00:24:40,594
I think it's kind of,

529
00:24:40,594 --> 00:24:41,174
once again,

530
00:24:41,354 --> 00:24:42,474
here's another example.

531
00:24:42,714 --> 00:24:43,074
It's like,

532
00:24:43,494 --> 00:24:44,954
oh, a quantum attacker

533
00:24:44,954 --> 00:24:48,714
steals a million Bitcoin and we're going to freeze the protocol over it.

534
00:24:48,774 --> 00:24:52,734
But the US government flies Blackhawks into a sovereign nation

535
00:24:52,734 --> 00:24:56,194
and abducts their president and then forces them to hand over the private keys.

536
00:24:56,274 --> 00:24:58,014
And we're like, oh, that's just normal. That's fine.

537
00:24:58,094 --> 00:25:00,834
We're not going to freeze those Bitcoins.

538
00:25:01,634 --> 00:25:04,674
I think there's a logical fallacy there.

539
00:25:04,674 --> 00:25:08,794
If anyone that supports freezing quantum, quote-unquote,

540
00:25:08,934 --> 00:25:10,794
quantum vulnerable coins preemptively,

541
00:25:10,794 --> 00:25:13,714
I think needs to reckon with the fact that

542
00:25:13,714 --> 00:25:15,794
if that's what you support,

543
00:25:15,894 --> 00:25:18,894
why don't you support freezing

544
00:25:18,894 --> 00:25:21,794
when there's a military attack to steal Bitcoin?

545
00:25:22,314 --> 00:25:24,274
And then I think the second piece that's interesting

546
00:25:24,274 --> 00:25:30,014
is there's a bunch of naive fairytale Bitcoiners

547
00:25:30,014 --> 00:25:32,434
that are like, oh, Bitcoin fixes this,

548
00:25:32,574 --> 00:25:34,494
it stops wars, blah, blah, blah.

549
00:25:34,874 --> 00:25:40,074
This is a perfect example of the types of military engagements

550
00:25:40,074 --> 00:25:43,374
that you will continue to see under a Bitcoin standard

551
00:25:43,374 --> 00:25:48,314
because obviously Bitcoin does not stop wars.

552
00:25:48,454 --> 00:25:53,234
What it does do is it removes the money printer from the equation

553
00:25:53,234 --> 00:25:57,214
so you can't fund super long, inefficient forever wars

554
00:25:57,214 --> 00:26:00,814
through that silent tax, through the inflation tax.

555
00:26:02,394 --> 00:26:07,194
And it doesn't have the same ring to it to say Bitcoin stops wars.

556
00:26:07,194 --> 00:26:13,754
bangs when you say that out loud, saying Bitcoin forces war to be more efficient and more pragmatic

557
00:26:13,754 --> 00:26:19,734
and more tactical does not hit the same. But that's the case, right? And so you look at

558
00:26:19,734 --> 00:26:29,514
a situation like this, it's like the US government, US military spent a smaller amount of money

559
00:26:29,514 --> 00:26:32,274
in a very tactical engagement

560
00:26:32,274 --> 00:26:35,174
to potentially seize Bitcoin resources

561
00:26:35,174 --> 00:26:38,714
and strategic location

562
00:26:38,714 --> 00:26:41,494
in terms of Venezuela's location

563
00:26:41,494 --> 00:26:43,734
at the mouth of the Caribbean and the Panama Canal.

564
00:26:45,254 --> 00:26:48,614
And that's a perfect example

565
00:26:48,614 --> 00:26:49,974
of a cost-benefit analysis

566
00:26:49,974 --> 00:26:51,934
that in a post-Bitcoin world

567
00:26:51,934 --> 00:26:54,854
could make financial sense

568
00:26:54,854 --> 00:26:57,654
for a country to do it.

569
00:26:57,654 --> 00:27:00,474
Bitcoin not bombs

570
00:27:00,474 --> 00:27:01,174
I think the

571
00:27:01,174 --> 00:27:02,134
yeah

572
00:27:02,134 --> 00:27:04,474
the hope of like

573
00:27:04,474 --> 00:27:05,454
yeah

574
00:27:05,454 --> 00:27:06,714
the hope of like

575
00:27:06,714 --> 00:27:07,574
I mean the whole

576
00:27:07,574 --> 00:27:09,594
Bitcoin ending war

577
00:27:09,594 --> 00:27:10,454
I think it's this

578
00:27:10,454 --> 00:27:11,954
I don't want to call it

579
00:27:11,954 --> 00:27:13,134
maybe it's not a pipe dream

580
00:27:13,134 --> 00:27:14,654
but it's certainly a stretch

581
00:27:14,654 --> 00:27:15,034
like

582
00:27:15,034 --> 00:27:17,674
I like to be optimistic

583
00:27:17,674 --> 00:27:18,434
if it can happen

584
00:27:18,434 --> 00:27:20,334
like if you take the money printer out

585
00:27:20,334 --> 00:27:21,474
people are forced to

586
00:27:21,474 --> 00:27:22,894
engage in

587
00:27:22,894 --> 00:27:23,914
legitimate commerce

588
00:27:23,914 --> 00:27:25,474
and once you have that

589
00:27:25,474 --> 00:27:26,154
at scale

590
00:27:26,154 --> 00:27:27,274
the

591
00:27:27,274 --> 00:27:29,374
incentive to go to war

592
00:27:29,374 --> 00:27:31,274
decreases, which I can see too.

593
00:27:31,434 --> 00:27:32,334
It's not going to end war.

594
00:27:33,314 --> 00:27:35,054
No, it forces

595
00:27:35,054 --> 00:27:37,414
warfare to be more efficient.

596
00:27:40,894 --> 00:27:51,788
It the human condition changing the money doesn stop war

597
00:27:51,788 --> 00:27:54,828
we've been on a gold standard in the past

598
00:27:54,828 --> 00:27:55,628
there were still wars

599
00:27:55,628 --> 00:28:00,988
there's plenty of governments that have shit currencies

600
00:28:00,988 --> 00:28:03,888
that don't really have access to a printer in practice

601
00:28:03,888 --> 00:28:04,968
that do wars

602
00:28:04,968 --> 00:28:08,128
so it's just like logically does not flow

603
00:28:08,128 --> 00:28:11,908
So, sorry to burst your bubble.

604
00:28:12,488 --> 00:28:17,928
I know people like hearing it, but Bitcoin does not fix this.

605
00:28:19,108 --> 00:28:22,888
Going back to the Venezuelan government Bitcoin stash,

606
00:28:22,968 --> 00:28:26,728
whether or not they have 600,000, I'd be shocked if they have 600,000 Bitcoin.

607
00:28:27,728 --> 00:28:30,208
Maybe over time they've accumulated that much,

608
00:28:30,288 --> 00:28:34,568
but I would find it hard to believe that they did not burn through a large amount of that,

609
00:28:34,568 --> 00:28:43,208
Especially when you consider how long they've been accumulating or interacting with Bitcoin going back to 2017, 2018 when the price was much lower.

610
00:28:44,708 --> 00:28:48,048
But I think I'm pretty confident.

611
00:28:48,188 --> 00:28:49,048
I think I've written about it.

612
00:28:49,048 --> 00:28:50,028
I think we've talked about it.

613
00:28:50,028 --> 00:28:57,748
There have been confirmed reports of the Venezuelan government using Bitcoin in oil trades.

614
00:28:59,728 --> 00:29:07,728
And the way they would use Bitcoin is they would do a trade with Russia, Iran, China for oil.

615
00:29:08,248 --> 00:29:09,628
They would demand to get paid in Tether.

616
00:29:09,628 --> 00:29:15,248
and then they would immediately sweep that tether into bitcoin because they understand the

617
00:29:15,248 --> 00:29:21,068
centralized third-party risk that exists with tether as an entity issuing that stable coin

618
00:29:21,068 --> 00:29:26,268
that can freeze your stable coin so they were using bitcoin as this neutral sovereign reserve

619
00:29:26,268 --> 00:29:35,368
asset to make sure that their their funds weren't frozen and then the other theory uh of how they

620
00:29:35,368 --> 00:29:39,568
accumulated some bitcoin is gold swaps they have a ton of gold like we mentioned earlier and with

621
00:29:39,628 --> 00:29:42,568
a ton of gold underground and above ground in Venezuela.

622
00:29:43,108 --> 00:29:44,828
And apparently, I believe with China or somebody,

623
00:29:44,968 --> 00:29:48,948
they did a gold swap where they gave them

624
00:29:48,948 --> 00:29:51,608
a large amount of gold in return for Bitcoin.

625
00:29:52,148 --> 00:29:53,648
And I think they have a bunch of stuff.

626
00:29:54,228 --> 00:29:56,408
I think they have a couple billion dollars worth of gold

627
00:29:56,408 --> 00:29:58,328
stuck in a UK vault too, right?

628
00:29:58,828 --> 00:29:59,628
Yeah, yeah.

629
00:29:59,628 --> 00:30:00,228
Did you see that?

630
00:30:01,028 --> 00:30:01,268
Yeah.

631
00:30:02,648 --> 00:30:04,148
So it would make sense that,

632
00:30:04,628 --> 00:30:08,268
because they got frozen in that they got sanctioned,

633
00:30:08,268 --> 00:30:11,408
They refused to deliver the gold from the UK vaults.

634
00:30:11,608 --> 00:30:15,268
And I think after that, they're like, all right, let's diversify out of gold and into Bitcoin.

635
00:30:15,388 --> 00:30:16,068
It can't be frozen.

636
00:30:16,068 --> 00:30:24,588
But point being is whether you like it or not, this acutely validates Bitcoin's value prop.

637
00:30:24,588 --> 00:30:41,628
You have a rogue nation state recognizing that they're vulnerable to the whims of central authorities in other monetary domains, particularly the fiat and even the gold system.

638
00:30:42,008 --> 00:30:46,448
So they turn to Bitcoin because they can trust it much more than they can in those systems.

639
00:30:46,708 --> 00:30:51,888
And so maybe a hard pill to swallow, but this is why Bitcoin exists.

640
00:30:51,888 --> 00:30:53,408
100%.

641
00:30:53,408 --> 00:30:55,728
And then the last piece I would say

642
00:30:55,728 --> 00:30:56,808
is

643
00:30:56,808 --> 00:30:59,368
if

644
00:30:59,368 --> 00:31:01,888
Bitcoin is seized

645
00:31:01,888 --> 00:31:02,808
by the US government

646
00:31:02,808 --> 00:31:05,808
they should give it back to the

647
00:31:05,808 --> 00:31:07,848
Venezuelan people. There's almost zero shot

648
00:31:07,848 --> 00:31:09,528
they will. They will probably just

649
00:31:09,528 --> 00:31:11,728
put it in the Strategic

650
00:31:11,728 --> 00:31:13,768
Bitcoin Reserve alongside the other stolen Bitcoin

651
00:31:13,768 --> 00:31:14,408
they have there.

652
00:31:16,108 --> 00:31:16,268
But

653
00:31:16,268 --> 00:31:19,768
I do not like

654
00:31:19,768 --> 00:31:20,168
the

655
00:31:20,168 --> 00:31:27,208
I do not have respect for the cheering of the stolen Bitcoin

656
00:31:27,208 --> 00:31:29,628
going into the US Strategic Bitcoin Reserve

657
00:31:29,628 --> 00:31:33,808
even though that's what's probably going to happen if it does exist

658
00:31:33,808 --> 00:31:35,668
yes, I agree with you

659
00:31:35,668 --> 00:31:37,448
but I want to put the case forward

660
00:31:37,448 --> 00:31:39,888
Donald Trump, I know you listen to the show

661
00:31:39,888 --> 00:31:42,288
Donrow Doctrine, I respect it

662
00:31:42,288 --> 00:31:45,268
I agree with it, I think we should be focusing on

663
00:31:45,268 --> 00:31:47,228
our locality, the western hemisphere

664
00:31:47,228 --> 00:31:49,728
and you have an opportunity here.

665
00:31:51,748 --> 00:31:52,668
Let's be clear.

666
00:31:52,948 --> 00:31:56,808
There's no indication that we know where the Bitcoin is

667
00:31:56,808 --> 00:31:59,668
or that we have the potential to get control of it at this point.

668
00:31:59,668 --> 00:32:01,808
So this is all speculation theory.

669
00:32:02,288 --> 00:32:05,768
But if we do have the ability, and like you said, Matt, I agree,

670
00:32:05,908 --> 00:32:07,608
I think it should go back to the Venezuelan people.

671
00:32:08,468 --> 00:32:12,048
And if you truly do want a strong, robust Western hemisphere

672
00:32:12,048 --> 00:32:15,028
where people, particularly nation states,

673
00:32:15,028 --> 00:32:21,748
they're operating in negotiations and in commerce with good intentions,

674
00:32:21,928 --> 00:32:23,388
both counterparties have good intentions,

675
00:32:23,388 --> 00:32:26,508
it would be a great strong signal to say,

676
00:32:26,628 --> 00:32:31,048
hey, we're letting the Venezuelan people keep their Bitcoin.

677
00:32:31,708 --> 00:32:32,308
It is theirs.

678
00:32:32,568 --> 00:32:37,148
Their government acquired it off the sweat of their brow.

679
00:32:37,768 --> 00:32:40,768
You obviously are in a position where we want you to be stronger

680
00:32:40,768 --> 00:32:41,988
and you need to build up.

681
00:32:41,988 --> 00:32:43,908
and here's a good foundation,

682
00:32:44,048 --> 00:32:45,708
a nice Bitcoin strategic reserve for your country

683
00:32:45,708 --> 00:32:47,308
is a good foundation to begin building that.

684
00:32:47,668 --> 00:32:51,548
I think that would be a great step forward

685
00:32:51,548 --> 00:32:53,328
and a great sign of, hey,

686
00:32:53,448 --> 00:32:56,848
we legitimately want to make the Western Hemisphere stronger.

687
00:32:56,968 --> 00:32:58,808
Is it the Trump administration did that?

688
00:32:58,908 --> 00:32:59,488
Will they do that?

689
00:32:59,848 --> 00:33:01,308
Will they ever even get control of the Bitcoin?

690
00:33:01,828 --> 00:33:02,368
Who knows?

691
00:33:02,948 --> 00:33:03,888
I think I agree with Matt.

692
00:33:05,288 --> 00:33:05,688
Yeah.

693
00:33:06,908 --> 00:33:10,048
I mean, if you're trying to get control of the Bitcoin, right,

694
00:33:10,088 --> 00:33:10,868
how would you do it?

695
00:33:10,868 --> 00:33:13,428
instead of hitting the leader with a cruise missile,

696
00:33:13,548 --> 00:33:16,788
you would abduct him and interrogate him, right?

697
00:33:16,928 --> 00:33:19,548
That's the only way you're going to get access to it.

698
00:33:20,468 --> 00:33:20,588
Yeah.

699
00:33:20,888 --> 00:33:22,308
But just to be clear here,

700
00:33:23,148 --> 00:33:25,548
once again, this is also like a fairy tale,

701
00:33:25,548 --> 00:33:31,568
but obviously if President Trump is listening,

702
00:33:32,008 --> 00:33:33,428
I actually think it shouldn't be,

703
00:33:33,608 --> 00:33:37,948
like it shouldn't be given back to the Venezuelan government

704
00:33:37,948 --> 00:33:41,188
as their own strategic reserve.

705
00:33:41,588 --> 00:33:42,748
I like the idea.

706
00:33:42,968 --> 00:33:45,148
It's very unique in Bitcoin that you could do that

707
00:33:45,148 --> 00:33:49,548
is like literally have the US government airdrop

708
00:33:49,548 --> 00:33:54,728
an equal portion of sats to every single citizen of Venezuela.

709
00:33:54,908 --> 00:33:55,948
And I did the math.

710
00:33:56,628 --> 00:33:58,648
It's a great fucking meme number.

711
00:33:58,648 --> 00:34:02,108
There's 28 million Venezuelans about.

712
00:34:03,768 --> 00:34:06,848
And if there's actually 600,000 Bitcoin,

713
00:34:06,848 --> 00:34:08,868
and that's 2.1 million sats per person.

714
00:34:09,488 --> 00:34:11,668
And you can just airdrop it directly to the people.

715
00:34:12,568 --> 00:34:15,528
Well, now you've got my juices flowing.

716
00:34:16,168 --> 00:34:17,328
You do that and you're, hey,

717
00:34:17,728 --> 00:34:20,708
there's been a large diaspora out of Venezuela

718
00:34:20,708 --> 00:34:23,768
as the Maduro regime, Chavez and Maduro,

719
00:34:23,888 --> 00:34:25,248
took over and destroyed the country.

720
00:34:25,568 --> 00:34:28,068
Many Venezuelans left the country,

721
00:34:28,268 --> 00:34:30,768
millions coming to the United States alone.

722
00:34:30,768 --> 00:34:34,808
And if you're trying to solve an immigration,

723
00:34:34,988 --> 00:34:36,368
these people were truly refugees,

724
00:34:36,368 --> 00:34:39,888
but I think if Maduro is out

725
00:34:39,888 --> 00:34:42,528
and there seems like the potential to rebuild Venezuela exists

726
00:34:42,528 --> 00:34:45,748
and you want to incentivize the Venezuelans

727
00:34:45,748 --> 00:34:48,268
who participated in diaspora and came to the United States

728
00:34:48,268 --> 00:34:49,928
and said, hey, we're going to airdrop this Bitcoin

729
00:34:49,928 --> 00:34:51,208
but you've got to go back to Venezuela.

730
00:34:52,328 --> 00:34:54,548
Could be a nice little carrot there too.

731
00:35:01,548 --> 00:35:05,248
We've interacted with tons of Venezuelan Bitcoiners.

732
00:35:05,248 --> 00:35:16,088
Another thing we should note on this story, too, is Venezuelans, I think on a per capita basis, were some of the strongest Bitcoin adopters in the early days because they were going through hyperinflation.

733
00:35:17,268 --> 00:35:19,448
Notoriously, they spun up a bunch of mining operations.

734
00:35:19,748 --> 00:35:22,748
Matt mentioned they got seized by the Maduro regime.

735
00:35:23,088 --> 00:35:32,248
And so there's a ton of Venezuelans that I've personally interacted with that Matt has over the years that are extremely happy with what's going on right now.

736
00:35:33,508 --> 00:35:34,888
So I'm happy.

737
00:35:34,888 --> 00:35:53,248
And again, I think it's still early days, fog of war, less than a week out from the Maduro extraction. It's yet to be determined whether or not it will be a smooth transition or it'll be in the overall benefit of the Venezuelans that were subjected to the wins of the Maduro regime.

738
00:35:53,248 --> 00:36:00,548
I want to be optimistic and hold out hope that the Don Roe Doctrine is true and they do want a strong Western atmosphere.

739
00:36:00,968 --> 00:36:12,288
And so it was cool to see all the celebrations and the tears of joy that were coming across the internet last week because people were really suffering.

740
00:36:15,088 --> 00:36:15,728
100%.

741
00:36:15,728 --> 00:36:19,488
All right.

742
00:36:19,488 --> 00:36:23,168
do we have

743
00:36:23,168 --> 00:36:24,728
I guess it's early

744
00:36:24,728 --> 00:36:25,588
it's a morning rep

745
00:36:25,588 --> 00:36:27,988
let me just check my email

746
00:36:27,988 --> 00:36:33,948
I'm not seeing

747
00:36:33,948 --> 00:36:36,808
not seeing

748
00:36:36,808 --> 00:36:40,428
a financial freedom report out yet

749
00:36:40,428 --> 00:36:41,308
so we don't have a

750
00:36:41,308 --> 00:36:42,648
Human Rights Foundation

751
00:36:42,648 --> 00:36:43,708
financial freedom report

752
00:36:43,708 --> 00:36:45,028
though we'll just make one up

753
00:36:45,028 --> 00:36:46,588
we talked about it last week

754
00:36:46,588 --> 00:36:49,448
it seems like the interest

755
00:36:49,448 --> 00:36:57,568
in bitchat in uganda specifically has increased over the last week cali's been showing some charts

756
00:36:57,568 --> 00:37:02,448
of download numbers coming out of uganda i think i think he said one percent of the country has

757
00:37:02,448 --> 00:37:11,208
downloaded bitchat it's over on android alone it's over a million downloads yeah and so we

758
00:37:11,208 --> 00:37:17,228
mentioned it last week but they have a big election coming up a week from today uh thursday january

759
00:37:17,228 --> 00:37:25,388
15th, much speculation that the incumbent administration is going to shut off the internet

760
00:37:25,388 --> 00:37:34,008
to prevent people from communicating because they're likely going to execute some election

761
00:37:34,008 --> 00:37:34,488
fraud.

762
00:37:35,188 --> 00:37:42,788
And so to curb or to front run the internet shutdown and the shutdown of communication

763
00:37:42,788 --> 00:37:46,568
networks within the country, people have been fleeing to download.

764
00:37:46,568 --> 00:37:48,948
not fleeing, but have been rushing to download BitChat.

765
00:37:49,088 --> 00:37:50,368
What are you showing us, your coffee cup?

766
00:37:50,628 --> 00:37:51,528
Is there a monkey back there?

767
00:37:52,648 --> 00:37:54,188
I don't know, I just had to get up real quick.

768
00:37:54,888 --> 00:37:55,048
Oh.

769
00:37:56,988 --> 00:37:58,628
This is my way of turning off the camera.

770
00:37:59,488 --> 00:38:03,608
So in a way to sort of front-run this and get ahead of it,

771
00:38:04,008 --> 00:38:07,408
many people in the country have been urged to download BitChat,

772
00:38:07,688 --> 00:38:09,488
which, for those who are unaware,

773
00:38:09,728 --> 00:38:10,868
it's an app that you download,

774
00:38:11,028 --> 00:38:12,528
and it communicates using Bluetooth.

775
00:38:13,008 --> 00:38:16,108
So if you're within proximity of other users,

776
00:38:16,108 --> 00:38:18,208
you can communicate with.

777
00:38:19,408 --> 00:38:21,048
If you hit a critical mass of people,

778
00:38:21,268 --> 00:38:24,348
that sort of range with which you can communicate with people

779
00:38:24,348 --> 00:38:26,268
expands pretty massively.

780
00:38:26,728 --> 00:38:28,608
So a week out from the election,

781
00:38:29,448 --> 00:38:31,568
many people are downloading BitChat

782
00:38:31,568 --> 00:38:34,228
to be able to communicate as it's going on

783
00:38:34,228 --> 00:38:37,008
and to highlight election fraud if it happens.

784
00:38:37,448 --> 00:38:40,468
And I think this is an incredible example of freedom tech.

785
00:38:41,308 --> 00:38:42,848
And it will be very interesting to see

786
00:38:42,848 --> 00:38:46,048
the impact this has next week during the Ugandan elections.

787
00:38:46,108 --> 00:38:54,328
And did you see that the Ugandan government was like, we've developed the technology to block BitChat.

788
00:38:54,588 --> 00:38:58,528
And people in the comments are like, you don't have the capability of blocking Bluetooth.

789
00:38:59,088 --> 00:39:01,708
You're just fucking making shit up.

790
00:39:01,708 --> 00:39:02,588
It's radio waves, brother.

791
00:39:06,028 --> 00:39:14,908
And supposedly, Callie's working on the Android side using direct Wi-Fi connections, which extends the range.

792
00:39:14,908 --> 00:39:16,708
significantly.

793
00:39:17,388 --> 00:39:19,188
And you can't do that on the iPhone side,

794
00:39:19,528 --> 00:39:20,648
but because

795
00:39:20,648 --> 00:39:23,088
BitChats cross-compatible,

796
00:39:23,808 --> 00:39:24,968
it still indirectly

797
00:39:24,968 --> 00:39:26,528
benefits iPhone users because

798
00:39:26,528 --> 00:39:29,008
if it goes iPhone to Android

799
00:39:29,008 --> 00:39:31,328
then to Android to iPhone,

800
00:39:31,568 --> 00:39:33,288
you get significantly

801
00:39:33,288 --> 00:39:33,988
more range.

802
00:39:35,008 --> 00:39:35,288
Hell yeah.

803
00:39:36,748 --> 00:39:38,928
And then of course, there's two pieces.

804
00:39:40,068 --> 00:39:40,828
Yeah, go on.

805
00:39:41,508 --> 00:39:43,188
I was going to say, I don't know if they're going to write about it this week,

806
00:39:43,188 --> 00:39:45,988
but go sign up for the Financial Freedom Report.

807
00:39:46,388 --> 00:39:49,008
They'll definitely be right about that, is my guess.

808
00:39:50,148 --> 00:39:52,468
I'm at an HRF event right now,

809
00:39:52,808 --> 00:39:56,068
and one of the main topics is BitChat

810
00:39:56,068 --> 00:39:57,488
and the success of BitChat.

811
00:39:59,548 --> 00:40:01,508
And also the impact of Vibe Coding

812
00:40:01,508 --> 00:40:04,388
in its creation and development in the first place.

813
00:40:05,648 --> 00:40:07,688
So it's just wild to see. It's cool to see.

814
00:40:08,588 --> 00:40:10,928
It empowers people. And just to be clear again,

815
00:40:10,928 --> 00:40:13,048
there's two aspects of BitChat.

816
00:40:13,188 --> 00:40:16,588
You have the mesh that's direct peer-to-peer,

817
00:40:16,728 --> 00:40:21,508
and then you have the global chat rooms that are using Nostr.

818
00:40:22,148 --> 00:40:25,388
And there's also the DM functionality,

819
00:40:25,928 --> 00:40:30,628
that if you're not near someone, you can then switch to Nostr-based DMs.

820
00:40:31,648 --> 00:40:37,088
Obviously, we've seen authoritarian governments in the past

821
00:40:37,088 --> 00:40:39,548
cut internet during election times.

822
00:40:39,548 --> 00:40:40,308
that's why

823
00:40:40,308 --> 00:40:43,528
there's being this push to BitChat

824
00:40:43,528 --> 00:40:45,228
in the first place. So if they do do that

825
00:40:45,228 --> 00:40:47,408
only the mesh part of BitChat

826
00:40:47,408 --> 00:40:48,988
will work. Obviously

827
00:40:48,988 --> 00:40:50,968
the Nostra aspects won't.

828
00:40:52,268 --> 00:40:53,468
And then the last piece I would

829
00:40:53,468 --> 00:40:54,188
just say is

830
00:40:54,188 --> 00:40:57,388
do you see the opposition

831
00:40:57,388 --> 00:40:57,908
leader?

832
00:41:00,008 --> 00:41:01,868
He has two million followers.

833
00:41:03,408 --> 00:41:03,448
And

834
00:41:03,448 --> 00:41:05,428
it's just like every morning he's just all

835
00:41:05,428 --> 00:41:07,408
caps like download BitChat which is just

836
00:41:07,408 --> 00:41:08,228
a crazy thing.

837
00:41:08,228 --> 00:41:13,588
so we'll keep you guys

838
00:41:13,588 --> 00:41:15,628
abreast of that I guess by the time we record

839
00:41:15,628 --> 00:41:17,028
next week if it's on Thursday

840
00:41:17,028 --> 00:41:19,588
Uganda's

841
00:41:19,588 --> 00:41:20,928
a few hours or

842
00:41:20,928 --> 00:41:23,628
probably six or seven hours ahead of us

843
00:41:23,628 --> 00:41:24,968
I would imagine

844
00:41:24,968 --> 00:41:27,708
so there should be some news next week

845
00:41:27,708 --> 00:41:28,868
when we're recording

846
00:41:28,868 --> 00:41:31,348
you can look out for that

847
00:41:31,348 --> 00:41:41,042
alright software updates coin swap version version 0 has been released

848
00:41:45,922 --> 00:41:46,762
Come on.

849
00:41:46,842 --> 00:41:48,742
Tapper's using swap protocol.

850
00:41:50,582 --> 00:41:53,002
This protocol allows faster swap rounds,

851
00:41:53,162 --> 00:41:55,102
unified funding, contract transactions,

852
00:41:55,322 --> 00:41:57,342
cheaper fees for swap recovery,

853
00:41:57,342 --> 00:42:00,922
and better anonymity set for increased privacy.

854
00:42:01,582 --> 00:42:06,882
So this is a really cool project and we're funding it out of OpenSats.

855
00:42:07,842 --> 00:42:22,882
And they specifically asked me to sound the horn to all the ride-or-die freaks out there to test it and provide feedback and help contribute to the project.

856
00:42:24,102 --> 00:42:26,502
So go check it out if it interests you.

857
00:42:27,402 --> 00:42:29,242
It's obviously privacy-focused.

858
00:42:29,242 --> 00:42:31,862
Bitcoin swaps.

859
00:42:33,782 --> 00:42:34,762
Go check it out.

860
00:42:36,402 --> 00:42:37,242
Mention boost.

861
00:42:37,382 --> 00:42:38,702
Probably one of the

862
00:42:38,702 --> 00:42:40,322
bigger successes

863
00:42:40,322 --> 00:42:41,562
at OpenSats this year.

864
00:42:41,662 --> 00:42:42,382
Pretty cool to see.

865
00:42:43,762 --> 00:42:44,722
Just quietly,

866
00:42:44,882 --> 00:42:46,262
quietly grinding it out.

867
00:42:49,322 --> 00:42:50,762
Up, up, up, up, up.

868
00:42:55,602 --> 00:42:56,282
All right.

869
00:42:57,082 --> 00:42:58,502
Top boost from Rabbit Hole Recap,

870
00:42:58,502 --> 00:43:00,682
390 the 2026 cattle bike

871
00:43:00,682 --> 00:43:02,562
none to read on

872
00:43:02,562 --> 00:43:02,862
fountain

873
00:43:02,862 --> 00:43:05,062
none above

874
00:43:05,062 --> 00:43:07,922
21,000 cents

875
00:43:07,922 --> 00:43:10,162
do we have any on

876
00:43:10,162 --> 00:43:10,922
primal

877
00:43:10,922 --> 00:43:15,782
alright sure

878
00:43:15,782 --> 00:43:20,562
nope

879
00:43:20,562 --> 00:43:22,142
high sap was

880
00:43:22,142 --> 00:43:23,602
2100 cents

881
00:43:23,602 --> 00:43:26,722
reminder freaks

882
00:43:26,722 --> 00:43:27,642
if you're new here

883
00:43:27,642 --> 00:43:29,782
we read

884
00:43:29,782 --> 00:43:31,642
every zap or boost

885
00:43:31,642 --> 00:43:33,342
that's over 21,000 sets

886
00:43:33,342 --> 00:43:37,002
anything in the

887
00:43:37,002 --> 00:43:38,822
the top four

888
00:43:38,822 --> 00:43:39,862
we read the top four

889
00:43:39,862 --> 00:43:41,162
over 21,000 sets

890
00:43:41,162 --> 00:43:43,342
alright we've got a couple

891
00:43:43,342 --> 00:43:45,822
in the Primal live chat

892
00:43:45,822 --> 00:43:47,122
21,000 sets from Bill

893
00:43:47,122 --> 00:43:48,342
Long Island Bitcoin meetup

894
00:43:48,342 --> 00:43:49,622
tomorrow January 9th

895
00:43:49,622 --> 00:43:50,282
a tap room

896
00:43:50,282 --> 00:43:52,902
in Ronkonkama

897
00:43:52,902 --> 00:43:54,362
at 6.30pm

898
00:43:54,362 --> 00:43:55,302
all freaks welcome

899
00:43:55,302 --> 00:43:58,582
interesting

900
00:43:58,582 --> 00:43:59,282
Friday night

901
00:43:59,282 --> 00:43:59,922
Friday night

902
00:43:59,922 --> 00:44:00,662
Bitcoin meetup

903
00:44:00,662 --> 00:44:02,422
what do you think

904
00:44:02,422 --> 00:44:03,042
about that

905
00:44:03,042 --> 00:44:07,482
not my vibe

906
00:44:07,482 --> 00:44:08,422
but I support it

907
00:44:08,422 --> 00:44:09,522
yes

908
00:44:09,522 --> 00:44:10,682
the commoner

909
00:44:10,682 --> 00:44:12,002
21,012 sats

910
00:44:12,002 --> 00:44:12,622
palindrome

911
00:44:12,622 --> 00:44:13,102
zap

912
00:44:13,102 --> 00:44:14,502
let's fucking go

913
00:44:14,502 --> 00:44:16,362
let's go

914
00:44:16,362 --> 00:44:17,142
let's go

915
00:44:17,142 --> 00:44:18,142
freedom tech

916
00:44:18,142 --> 00:44:18,922
winning out

917
00:44:18,922 --> 00:44:21,522
I see weirdo robot

918
00:44:21,522 --> 00:44:22,122
in the comments

919
00:44:22,122 --> 00:44:24,002
asking for a link

920
00:44:24,002 --> 00:44:25,282
to coin swap

921
00:44:25,282 --> 00:44:27,782
the coin swap repo

922
00:44:27,782 --> 00:44:29,422
I do have a link

923
00:44:29,422 --> 00:44:30,822
it will be in the show notes

924
00:44:30,822 --> 00:44:33,442
but I will also put it

925
00:44:33,442 --> 00:44:34,062
in

926
00:44:34,062 --> 00:44:36,462
the Nostralide chat

927
00:44:36,462 --> 00:44:38,682
I'm going to beat you to it

928
00:44:38,682 --> 00:44:41,022
no you didn't

929
00:44:41,022 --> 00:44:41,562
you failed

930
00:44:41,562 --> 00:44:42,662
send me money

931
00:44:42,662 --> 00:44:48,402
alright next up

932
00:44:48,402 --> 00:44:49,202
join market

933
00:44:49,202 --> 00:44:51,942
is there an update on

934
00:44:51,942 --> 00:44:54,442
the DDoS attack that we talked about

935
00:44:54,442 --> 00:44:55,222
last week

936
00:44:55,282 --> 00:45:04,222
So this is the guy who announced the DDoS and the mitigation of rotating log files.

937
00:45:06,522 --> 00:45:07,742
This is just cool to see.

938
00:45:07,922 --> 00:45:10,702
Like, JoinMarket has been around for a while.

939
00:45:12,602 --> 00:45:15,422
I mean, this kind of came out of nowhere.

940
00:45:15,542 --> 00:45:16,362
It caught me off guard.

941
00:45:21,362 --> 00:45:22,742
It's a full...

942
00:45:22,742 --> 00:45:24,442
Yeah, go on.

943
00:45:25,282 --> 00:45:33,282
So as I said, JoinMarketNG, it's a full rewrite of all JoinMarket components in modern Python, focusing on performance, maintainability, and extensibility.

944
00:45:33,922 --> 00:45:43,362
While maintaining compatibility with the existing JoinMarket network, wire rewrite, reference implementation, has served the community well for years.

945
00:45:43,482 --> 00:45:48,302
And we're deeply grateful for all the contributors, for all that the contributors have done.

946
00:45:48,302 --> 00:46:01,402
However, the project has no longer actively developed 181 open issues and 41 open pull requests and had architectural limitations such as relying on Bitcoin cores, Berkeley DB wallets, which were deprecated in version 26.0.

947
00:46:01,402 --> 00:46:08,842
So it seems like Jewry Market has been neglected in mower here.

948
00:46:10,002 --> 00:46:16,622
And I imagine others are picking up the reins and modernizing it

949
00:46:16,622 --> 00:46:19,322
and making sure that's updated and maintained.

950
00:46:19,682 --> 00:46:20,342
So cool to see.

951
00:46:21,702 --> 00:46:23,482
I absolutely love to see it.

952
00:46:23,562 --> 00:46:25,182
Actually, that just reminded me,

953
00:46:27,282 --> 00:46:30,322
I unintentionally forgot to put it on the list,

954
00:46:30,322 --> 00:46:35,442
but there was a bug in Core V30

955
00:46:35,442 --> 00:46:37,322
that had people...

956
00:46:37,322 --> 00:46:39,262
Drop legacy wallets.

957
00:46:40,642 --> 00:46:43,442
Well, specifically, it was if you migrated...

958
00:46:43,442 --> 00:46:44,202
It was really bad.

959
00:46:44,282 --> 00:46:46,062
If you migrated a legacy wallet,

960
00:46:47,222 --> 00:46:48,222
so that's what reminded me,

961
00:46:48,282 --> 00:46:50,382
like a Berkeley DB legacy wallet,

962
00:46:52,362 --> 00:46:54,462
I think it would wipe all wallets

963
00:46:54,462 --> 00:46:57,922
that were attached to the core client.

964
00:47:00,322 --> 00:47:05,242
I think obviously that's not great.

965
00:47:07,462 --> 00:47:10,262
And core maintainers also agree with that,

966
00:47:10,342 --> 00:47:12,842
which is why they announced it

967
00:47:12,842 --> 00:47:16,822
and then removed the core 30 release from the site,

968
00:47:17,222 --> 00:47:18,142
from their site.

969
00:47:19,582 --> 00:47:21,182
But to be clear,

970
00:47:21,342 --> 00:47:25,422
a very small subset of users could be affected by this.

971
00:47:26,082 --> 00:47:27,062
I think in general,

972
00:47:27,162 --> 00:47:30,122
most people just don't use core as a wallet to begin with.

973
00:47:30,322 --> 00:47:35,002
This does not affect anyone who's using Sparrow to connect to their node, for instance.

974
00:47:35,122 --> 00:47:38,222
It's actually people that are running wallets within Core.

975
00:47:39,242 --> 00:47:44,402
The second piece is, obviously, you need to have a really, really old wallet that you're then migrating.

976
00:47:45,242 --> 00:47:47,082
And then also without a backup.

977
00:47:47,722 --> 00:47:50,242
If you have a backup, you wouldn't be affected, obviously.

978
00:47:50,342 --> 00:47:51,482
You could just restore from backup.

979
00:47:51,482 --> 00:47:56,302
so it definitely shouldn't be

980
00:47:56,302 --> 00:47:58,902
dismissed

981
00:47:58,902 --> 00:48:02,222
you know as

982
00:48:02,222 --> 00:48:04,702
something that is trivial but also

983
00:48:04,702 --> 00:48:07,042
I think on the other side of the extreme

984
00:48:07,042 --> 00:48:08,902
making it seem like it's like

985
00:48:08,902 --> 00:48:10,762
the end of the world type of situation

986
00:48:10,762 --> 00:48:13,142
is wrong

987
00:48:13,142 --> 00:48:13,682
as well

988
00:48:13,682 --> 00:48:14,822
yes

989
00:48:14,822 --> 00:48:18,962
and it looks like not implemented this

990
00:48:18,962 --> 00:48:21,102
as well too so be aware

991
00:48:21,102 --> 00:48:22,322
if you're running NOTS.

992
00:48:23,522 --> 00:48:24,802
Didn't Luke say

993
00:48:24,802 --> 00:48:26,782
they weren't affected?

994
00:48:27,002 --> 00:48:27,562
Was that wrong?

995
00:48:28,622 --> 00:48:30,262
I saw somebody pointing out that

996
00:48:30,262 --> 00:48:33,322
the same

997
00:48:33,322 --> 00:48:34,822
code was implemented in NOTS.

998
00:48:36,042 --> 00:48:36,522
I don't know.

999
00:48:36,602 --> 00:48:37,042
Could be wrong.

1000
00:48:37,982 --> 00:48:40,742
I saw Luke

1001
00:48:40,742 --> 00:48:43,062
on Noster said he hadn't merged

1002
00:48:43,062 --> 00:48:44,782
that pull request yet, and it wasn't

1003
00:48:44,782 --> 00:48:46,242
part of NOTS.

1004
00:48:49,262 --> 00:48:51,042
It's a good reminder, first of all,

1005
00:48:51,042 --> 00:48:52,002
to back up your wallets.

1006
00:48:52,982 --> 00:48:54,102
Make sure all your wallets

1007
00:48:54,102 --> 00:48:54,962
are always backed up.

1008
00:48:56,202 --> 00:48:57,762
Ideally offline on steal.

1009
00:48:58,702 --> 00:48:59,122
Oh, I see,

1010
00:48:59,222 --> 00:49:01,142
Jerry said Luke was mistaken

1011
00:49:01,142 --> 00:49:02,362
and they were affected too.

1012
00:49:02,802 --> 00:49:03,662
Take it as you will.

1013
00:49:06,342 --> 00:49:07,382
But second of all,

1014
00:49:07,462 --> 00:49:08,762
like I think it's another example

1015
00:49:08,762 --> 00:49:09,382
that like

1016
00:49:09,382 --> 00:49:12,442
there's better ways,

1017
00:49:12,602 --> 00:49:13,722
there's better ways

1018
00:49:13,722 --> 00:49:14,402
to use Bitcoin

1019
00:49:14,402 --> 00:49:16,282
than to use

1020
00:49:16,282 --> 00:49:17,602
the built-in wallet functionality

1021
00:49:17,602 --> 00:49:18,602
of core or not.

1022
00:49:21,042 --> 00:49:23,402
Not best practice, in my opinion, at this point.

1023
00:49:26,302 --> 00:49:31,222
Beware. Legacy addresses are addresses with a one in front.

1024
00:49:31,482 --> 00:49:34,262
And so if you're using Bitcoin Core as a wallet

1025
00:49:34,262 --> 00:49:38,322
and you're planning on upgrading and you have Bitcoin in addresses...

1026
00:49:38,322 --> 00:49:42,322
Yeah, but I think this is...

1027
00:49:42,322 --> 00:49:45,942
Is it like IP address day?

1028
00:49:47,602 --> 00:49:48,542
No, no, no.

1029
00:49:48,542 --> 00:49:55,562
I think you could have a legacy format wallet.

1030
00:49:57,682 --> 00:50:00,042
It's like how it's stored in the database.

1031
00:50:00,342 --> 00:50:02,082
I think you could use it with new addresses,

1032
00:50:02,402 --> 00:50:04,182
but it's like an old created wallet.

1033
00:50:04,462 --> 00:50:08,022
It's just like moving to the new HD wallets.

1034
00:50:08,682 --> 00:50:09,222
But I don't know.

1035
00:50:09,402 --> 00:50:10,382
Maybe I'm wrong there.

1036
00:50:12,382 --> 00:50:14,322
Never use that functionality in Core.

1037
00:50:16,042 --> 00:50:16,822
Be aware.

1038
00:50:16,822 --> 00:50:21,262
All right, next up on the list, big update from Primal.

1039
00:50:21,822 --> 00:50:23,042
Primal signers here.

1040
00:50:23,742 --> 00:50:24,782
Absolutely massive.

1041
00:50:25,162 --> 00:50:26,642
We're very excited about it.

1042
00:50:28,162 --> 00:50:33,782
You can now sign into Primal Web without an extension.

1043
00:50:34,122 --> 00:50:35,562
It's time to fade all the extensions.

1044
00:50:35,802 --> 00:50:40,042
I absolutely hate needing an extension to use Nostra Web Apps.

1045
00:50:42,242 --> 00:50:44,742
And so now to sign into Primal Web,

1046
00:50:44,742 --> 00:50:46,462
all you have to do is scan a QR code.

1047
00:50:46,822 --> 00:50:51,342
It uses the open, you scan a QR code with your phone with the Prima mobile app.

1048
00:50:52,022 --> 00:50:58,242
Your keys stay on your phone locally and everything gets signed from your phone in the background.

1049
00:50:59,262 --> 00:51:07,242
And it uses the open NSEC bunker standard, which is, it's funny because this is what silent.link was asking for last week.

1050
00:51:07,242 --> 00:51:09,502
And we were testing it while he was asking for it.

1051
00:51:09,662 --> 00:51:11,102
I knew it was in the pipeline.

1052
00:51:11,102 --> 00:51:13,682
but that means that if you're using

1053
00:51:13,682 --> 00:51:15,562
NAC or another NSEC

1054
00:51:15,562 --> 00:51:17,462
Bunker compatible signer you can also

1055
00:51:17,462 --> 00:51:19,122
sign into Primal Web with that as well

1056
00:51:19,122 --> 00:51:21,322
you obviously don't need to use the Primal app

1057
00:51:21,322 --> 00:51:23,502
and it also means with the

1058
00:51:23,502 --> 00:51:25,422
Primal app you can sign into any

1059
00:51:25,422 --> 00:51:27,622
other Nostra app that supports

1060
00:51:27,622 --> 00:51:28,842
NSEC Bunker

1061
00:51:28,842 --> 00:51:30,902
if it's on your phone

1062
00:51:30,902 --> 00:51:33,542
and you can't scan a QR code

1063
00:51:33,542 --> 00:51:35,182
because you're in

1064
00:51:35,182 --> 00:51:36,522
your phone browser

1065
00:51:36,522 --> 00:51:38,842
you can also just copy and paste

1066
00:51:38,842 --> 00:51:41,262
the NSEC bunker code

1067
00:51:41,262 --> 00:51:43,322
without exposing your NSEC.

1068
00:51:43,982 --> 00:51:45,062
So it opens up

1069
00:51:45,062 --> 00:51:48,142
just easy interoperability

1070
00:51:48,142 --> 00:51:49,482
with pretty much every

1071
00:51:49,482 --> 00:51:50,842
Nostra web app

1072
00:51:50,842 --> 00:51:52,682
for Primal users.

1073
00:51:53,802 --> 00:51:54,942
The Primal team,

1074
00:51:55,762 --> 00:51:57,342
it's really impressive

1075
00:51:57,342 --> 00:51:58,662
that they pulled this off.

1076
00:51:58,782 --> 00:51:59,842
Specifically on Android,

1077
00:51:59,922 --> 00:52:01,322
it was relatively easy to do.

1078
00:52:01,842 --> 00:52:02,682
On iPhone,

1079
00:52:02,962 --> 00:52:03,582
on iOS,

1080
00:52:03,682 --> 00:52:05,022
they kill background processes.

1081
00:52:05,202 --> 00:52:06,002
It's really hard to have

1082
00:52:06,002 --> 00:52:06,862
a background process

1083
00:52:06,862 --> 00:52:07,662
constantly running.

1084
00:52:08,842 --> 00:52:13,242
But we got it approved through the App Store, which is no easy feat.

1085
00:52:13,242 --> 00:52:18,382
And the way we did it is it plays ambient noises.

1086
00:52:19,262 --> 00:52:26,422
We curated a bunch of ambient sounds that play because it's a media player.

1087
00:52:26,842 --> 00:52:30,062
So it's like if you have Spotify or Tidal in the background,

1088
00:52:30,682 --> 00:52:35,482
you can mute the noises if you don't want to listen to jungle sounds or something

1089
00:52:35,482 --> 00:52:37,982
while you're signed into Nostra apps.

1090
00:52:37,982 --> 00:52:40,862
but the UX flow is just incredibly smooth

1091
00:52:40,862 --> 00:52:43,262
so I implore people to try it out

1092
00:52:43,262 --> 00:52:43,962
test it out

1093
00:52:43,962 --> 00:52:45,822
give us feedback

1094
00:52:45,822 --> 00:52:48,462
there's

1095
00:52:48,462 --> 00:52:51,042
a lot of unfounded

1096
00:52:51,042 --> 00:52:52,282
hate out there for Primal

1097
00:52:52,282 --> 00:52:55,002
I saw some haters saying

1098
00:52:55,002 --> 00:52:56,542
this is another example

1099
00:52:56,542 --> 00:52:57,982
of

1100
00:52:57,982 --> 00:53:02,042
us trying to lock in users

1101
00:53:02,042 --> 00:53:03,622
or creating a walled garden

1102
00:53:03,622 --> 00:53:04,942
which is just retarded

1103
00:53:04,942 --> 00:53:07,242
because it's actually the exact opposite feature

1104
00:53:07,242 --> 00:53:13,862
You can sign in. You can use Primal without ever providing an NSEC to the Primal app.

1105
00:53:14,162 --> 00:53:17,042
And you can now use the stream for some reason.

1106
00:53:18,582 --> 00:53:19,002
Uh-oh.

1107
00:53:20,062 --> 00:53:21,482
Are we still recording, though?

1108
00:53:22,082 --> 00:53:25,782
I don't know. I hit resume. I don't know if I kept recording.

1109
00:53:28,542 --> 00:53:29,102
Let me see.

1110
00:53:32,542 --> 00:53:35,322
Oh, I just got like a three-second guy here. I went back.

1111
00:53:37,242 --> 00:53:38,082
You want to do it again?

1112
00:53:38,622 --> 00:53:40,002
It's on again. Are we live?

1113
00:53:40,142 --> 00:53:40,782
I think we're live.

1114
00:53:40,782 --> 00:53:41,322
We're live.

1115
00:53:42,702 --> 00:53:43,762
Are we live?

1116
00:53:44,562 --> 00:53:48,662
What did we lose?

1117
00:53:49,082 --> 00:53:50,182
Do we have the recording?

1118
00:53:50,582 --> 00:53:51,042
We're back.

1119
00:53:52,102 --> 00:53:53,962
Recording should exist.

1120
00:53:55,282 --> 00:53:56,962
I just don't know if it was recording

1121
00:53:56,962 --> 00:53:57,922
while the stream dropped.

1122
00:53:58,662 --> 00:54:00,722
YouTube's back. Twitter's back.

1123
00:54:01,882 --> 00:54:03,082
I don't know what we missed.

1124
00:54:03,082 --> 00:54:10,502
did the freaks hear that we have huge updates coming for Primal

1125
00:54:10,502 --> 00:54:12,222
and that this is just the first of many?

1126
00:54:14,862 --> 00:54:16,422
I'm pretty excited about it.

1127
00:54:17,242 --> 00:54:19,422
And to the freaks that aren't aware,

1128
00:54:19,642 --> 00:54:23,562
1031 is the largest investor in Primal

1129
00:54:23,562 --> 00:54:25,522
and we're heavily involved in development.

1130
00:54:29,862 --> 00:54:32,062
Looks like we're up on Twitter and YouTube.

1131
00:54:32,062 --> 00:54:37,082
I think Noster is down, but people are flooding to the alternatives.

1132
00:54:38,282 --> 00:54:39,762
But I was going through a diatribe.

1133
00:54:39,802 --> 00:54:40,782
Why do we use this?

1134
00:54:41,102 --> 00:54:42,622
Because you don't have to give up personal information.

1135
00:54:42,762 --> 00:54:44,382
You create a private-public key pair.

1136
00:54:44,522 --> 00:54:45,702
You can be pseudo-anonymous.

1137
00:54:47,702 --> 00:54:51,882
You can detach your identity and any personal identifying information

1138
00:54:51,882 --> 00:54:56,122
from your social web of trust account.

1139
00:54:57,042 --> 00:54:59,302
And that is very important, especially in these days

1140
00:54:59,302 --> 00:55:01,182
when companies like Ledger are continuously

1141
00:55:01,182 --> 00:55:03,022
collecting data

1142
00:55:03,022 --> 00:55:05,422
having it stolen from them and leaked on the internet

1143
00:55:05,422 --> 00:55:07,142
there was a third

1144
00:55:07,142 --> 00:55:08,862
Ledger leak

1145
00:55:08,862 --> 00:55:10,422
that was announced this week

1146
00:55:10,422 --> 00:55:13,282
I mean to be clear I think

1147
00:55:13,282 --> 00:55:15,382
just before we move on to that

1148
00:55:15,382 --> 00:55:15,662
like

1149
00:55:15,662 --> 00:55:19,282
yes it's huge that you can use

1150
00:55:19,282 --> 00:55:21,382
Nostra without permission that you can use it

1151
00:55:21,382 --> 00:55:23,542
you know without providing

1152
00:55:23,542 --> 00:55:25,162
intimate personal

1153
00:55:25,162 --> 00:55:27,402
information to big tech social companies

1154
00:55:27,402 --> 00:55:28,742
but I

1155
00:55:28,776 --> 00:55:39,496
I think the verifiable data, the fact that all data is signed is going to be absolutely massive, particularly on video, on photos, but also on text posts.

1156
00:55:40,316 --> 00:55:45,616
And to the example of, we'll use Venezuela as an example again.

1157
00:55:45,776 --> 00:55:52,596
While Venezuela was going down, everyone was, they wanted to monitor the situation and they were checking Polymarket and they were checking X and stuff.

1158
00:55:53,096 --> 00:55:57,376
And it's really hard to see which data is real and what is real and what is fake.

1159
00:55:57,376 --> 00:55:59,256
There's a lot of shit going on out there.

1160
00:55:59,936 --> 00:56:00,976
And the truth of the matter is,

1161
00:56:01,016 --> 00:56:02,236
if you're using something like X,

1162
00:56:02,736 --> 00:56:05,256
the only way you know if something is real or not

1163
00:56:05,256 --> 00:56:06,376
is you're just trusting Elon.

1164
00:56:06,696 --> 00:56:09,016
And if you're using Facebook, you're trusting Zuck.

1165
00:56:09,416 --> 00:56:11,356
If you're using TikTok, you're trusting the CCP

1166
00:56:11,356 --> 00:56:13,156
and Larry Ellison.

1167
00:56:14,136 --> 00:56:17,136
It looks like he's going to get the US one.

1168
00:56:17,296 --> 00:56:19,876
But I think that's going to become more and more

1169
00:56:19,876 --> 00:56:24,216
of a clear win for Noster

1170
00:56:24,216 --> 00:56:28,436
as an interoperable, verifiable data set.

1171
00:56:29,436 --> 00:56:31,636
And we'll make it particularly well-suited

1172
00:56:31,636 --> 00:56:33,816
for quote-unquote monitoring the situation.

1173
00:56:35,256 --> 00:56:37,056
But yeah, onto the Ledger leak.

1174
00:56:37,236 --> 00:56:41,316
God, they are so irresponsible over there.

1175
00:56:42,016 --> 00:56:45,496
I think this is the third time personal information

1176
00:56:45,496 --> 00:56:47,156
has been leaked out of Ledger.

1177
00:56:47,856 --> 00:56:49,736
And there's already been many cases

1178
00:56:49,736 --> 00:56:52,576
where people are getting robbed and having home invasions.

1179
00:56:52,576 --> 00:56:54,856
their families are being put at risk

1180
00:56:54,856 --> 00:56:58,216
because Ledger is not prioritizing

1181
00:56:58,216 --> 00:57:00,336
customer safety

1182
00:57:00,336 --> 00:57:02,896
and I think

1183
00:57:02,896 --> 00:57:06,096
they should be shunned from the industry

1184
00:57:06,096 --> 00:57:06,916
in a big way

1185
00:57:06,916 --> 00:57:09,256
so look

1186
00:57:09,256 --> 00:57:10,676
we'll read your

1187
00:57:10,676 --> 00:57:12,636
customer's got this email

1188
00:57:12,636 --> 00:57:14,556
Dear customer, Global E

1189
00:57:14,556 --> 00:57:16,436
recently identified unusual activity

1190
00:57:16,436 --> 00:57:17,656
on a portion of our network

1191
00:57:17,656 --> 00:57:18,976
immediately after we became aware

1192
00:57:18,976 --> 00:57:20,856
of the unusual activity in our cloud systems

1193
00:57:20,856 --> 00:57:23,756
We took action to contain and ultimately secure our systems.

1194
00:57:23,996 --> 00:57:34,922
We retained independent forensic experts to conduct an investigation into the incident and were able to determine that some personal data including name and contact information were improperly accessed

1195
00:57:36,062 --> 00:57:43,902
So, trusted third parties. Ledger should be shunned. No focus. Feel bad for the Bitcoin team

1196
00:57:43,902 --> 00:57:46,382
inside of Ledger because they are pretty elite.

1197
00:57:48,242 --> 00:57:54,782
And then the other thing I would highlight here is, it's another example, by the way,

1198
00:57:54,782 --> 00:57:59,062
that the rise of LLMs,

1199
00:57:59,242 --> 00:58:03,202
the rise of these AI models

1200
00:58:03,202 --> 00:58:09,782
makes it really easy to sift through these data leaks

1201
00:58:09,782 --> 00:58:11,762
and combine the data leaks with each other

1202
00:58:11,762 --> 00:58:15,862
and cross-tabulate data.

1203
00:58:16,262 --> 00:58:18,582
So you can take this ledger leak, for instance,

1204
00:58:18,742 --> 00:58:19,962
and you can be like,

1205
00:58:20,022 --> 00:58:21,862
okay, which email addresses are in here

1206
00:58:21,862 --> 00:58:23,542
and what other leaks,

1207
00:58:23,542 --> 00:58:28,222
It's not even just ledger leaks have shown home addresses or other information.

1208
00:58:28,662 --> 00:58:33,642
And you can get in a nice table that shows all the information.

1209
00:58:33,922 --> 00:58:34,642
And it's pretty scary.

1210
00:58:34,642 --> 00:58:47,102
In terms of personal data being leaked and compromised on the internet and then used against people, we're very much in a brave new world.

1211
00:58:47,322 --> 00:58:52,762
It's easier than ever to weaponize this on an individual level.

1212
00:58:53,542 --> 00:58:54,422
against people.

1213
00:58:55,422 --> 00:58:57,822
Yeah, and that is why at Rabbit Hole Recap

1214
00:58:57,822 --> 00:59:02,042
we choose to partner with CoinKite

1215
00:59:02,042 --> 00:59:04,942
because they build the best hardware wallets

1216
00:59:04,942 --> 00:59:07,242
and then on top of that they collect

1217
00:59:07,242 --> 00:59:11,882
as little PII as possible,

1218
00:59:12,042 --> 00:59:13,422
personal identifying information,

1219
00:59:13,602 --> 00:59:16,682
and then they also wipe any data that they do collect

1220
00:59:16,682 --> 00:59:18,522
when they make sales,

1221
00:59:18,762 --> 00:59:21,402
when they sell products after 90 days.

1222
00:59:21,402 --> 00:59:25,062
And so they're actively deleting user information.

1223
00:59:25,062 --> 00:59:26,982
Can't verify, so trust me, bro.

1224
00:59:26,982 --> 00:59:40,228
But I think I be kidding It impossible to verify that information is deleted but it is It deleted every 90 days as it should be

1225
00:59:40,888 --> 00:59:42,348
They take it very seriously.

1226
00:59:44,848 --> 00:59:49,148
Just in general, best practice is to not use a home address for shipping,

1227
00:59:49,688 --> 00:59:51,148
where you're going to ship things to.

1228
00:59:52,208 --> 00:59:56,568
Consider a P.O. Box or some other kind of office address or something,

1229
00:59:56,568 --> 00:59:58,448
non-home address type of situation.

1230
00:59:59,328 --> 01:00:00,868
But that information is deleted.

1231
01:00:01,048 --> 01:00:02,568
And the other big thing that Coldcard does

1232
01:00:02,568 --> 01:00:06,828
is they don't do any marketing emails and stuff, right?

1233
01:00:06,888 --> 01:00:08,388
Like a lot of these ledger attacks,

1234
01:00:08,628 --> 01:00:09,808
these ledger leaks have been

1235
01:00:09,808 --> 01:00:11,348
because they have marketing lists

1236
01:00:11,348 --> 01:00:13,028
to send you promo emails

1237
01:00:13,028 --> 01:00:20,548
and try and sell you on whatever new products

1238
01:00:20,548 --> 01:00:21,868
that they're releasing constantly.

1239
01:00:22,928 --> 01:00:24,548
And CoinKite just doesn't do that.

1240
01:00:24,548 --> 01:00:27,288
They don't have any third-party dependencies.

1241
01:00:27,548 --> 01:00:29,088
They don't send out any marketing emails.

1242
01:00:30,188 --> 01:00:31,948
And they should absolutely be applauded for that.

1243
01:00:33,768 --> 01:00:35,948
So, yeah, I love CultGuard.

1244
01:00:36,048 --> 01:00:37,288
I think they do a really good job.

1245
01:00:37,388 --> 01:00:37,868
I use it.

1246
01:00:37,888 --> 01:00:39,148
I use it for my companies.

1247
01:00:39,388 --> 01:00:41,408
I use it for our projects.

1248
01:00:42,768 --> 01:00:44,288
My family relies on it.

1249
01:00:44,408 --> 01:00:45,788
Our businesses rely on it.

1250
01:00:46,488 --> 01:00:50,928
And you can use code RHR for a discount.

1251
01:00:52,888 --> 01:00:54,148
Well, not only that.

1252
01:00:54,548 --> 01:00:56,208
we've got a new bundle

1253
01:00:56,208 --> 01:00:58,548
we've got a special bundle

1254
01:00:58,548 --> 01:00:59,568
on CoinKite too

1255
01:00:59,568 --> 01:01:01,388
when you get the RHR bundle

1256
01:01:01,388 --> 01:01:03,248
you'll get two queues

1257
01:01:03,248 --> 01:01:06,408
a magic internet money sats card

1258
01:01:06,408 --> 01:01:07,548
to hand out at a wedding

1259
01:01:07,548 --> 01:01:09,008
if you haven't done that already

1260
01:01:09,008 --> 01:01:10,728
and then a steel plate backup

1261
01:01:10,728 --> 01:01:12,108
as well

1262
01:01:12,108 --> 01:01:13,468
I think you'll get 10% off

1263
01:01:13,468 --> 01:01:14,708
if you use the RHR code

1264
01:01:14,708 --> 01:01:15,908
for that bundle particularly

1265
01:01:15,908 --> 01:01:18,108
to be clear it's not up yet

1266
01:01:18,108 --> 01:01:19,628
but it's supposed to be up by end of day

1267
01:01:19,628 --> 01:01:19,968
so

1268
01:01:19,968 --> 01:01:22,648
yeah you'll get a bigger discount

1269
01:01:22,648 --> 01:01:23,948
if you use the RHR bundle

1270
01:01:23,948 --> 01:01:25,448
if you do the RHR bundle,

1271
01:01:25,548 --> 01:01:27,688
which I personally like.

1272
01:01:27,728 --> 01:01:29,228
Even if you don't do multi-sig,

1273
01:01:29,588 --> 01:01:41,534
I like the idea of having two cold cards because you set up the first one then you back it up to steal and then you restore from the steal to the second one

1274
01:01:42,354 --> 01:01:47,994
And then so you'll know that you actually recorded your seed correctly and that you practice the restore process.

1275
01:01:48,554 --> 01:01:52,194
And then at that point, you have the two cold cards that are mirroring each other.

1276
01:01:52,194 --> 01:01:53,654
They're the same wallet.

1277
01:01:55,634 --> 01:01:58,374
And they're obviously pin protected with the secure element.

1278
01:01:58,374 --> 01:02:02,054
So you can kind of think of them like your seed with the lockbox around it.

1279
01:02:02,054 --> 01:02:06,474
Like it's a safe with your, with your, with your seed.

1280
01:02:06,554 --> 01:02:11,734
And then you have, you have the third backup, which is a physical steel, uh, you know, water

1281
01:02:11,734 --> 01:02:16,674
resistant, fire resistant, analog offline, um, plate.

1282
01:02:17,254 --> 01:02:21,334
And I think, so then you, you can put the two gold cards in different places and you

1283
01:02:21,334 --> 01:02:24,774
put the steel somewhere where you make sure that no one can get access to the steel because

1284
01:02:24,774 --> 01:02:27,154
obviously they can spend their money if they get access to it.

1285
01:02:27,154 --> 01:02:29,234
is a really good setup.

1286
01:02:29,554 --> 01:02:30,494
And then to Marty's point,

1287
01:02:30,594 --> 01:02:32,474
Sats cards are just a great way to gift Bitcoin.

1288
01:02:35,694 --> 01:02:37,194
So I think it's a cool bundle.

1289
01:02:38,534 --> 01:02:39,494
It is a cool bundle.

1290
01:02:42,234 --> 01:02:43,414
That's all we have on the list.

1291
01:02:43,494 --> 01:02:44,154
I know you're busy.

1292
01:02:46,814 --> 01:02:48,514
And on a bit of a somber note,

1293
01:02:49,174 --> 01:02:50,914
you were aware of this last week, man.

1294
01:02:50,934 --> 01:02:52,674
That's why we pushed it up.

1295
01:02:52,794 --> 01:02:55,694
My aunt is very close with us.

1296
01:02:55,694 --> 01:02:58,894
She was rushed to the ICU last week.

1297
01:02:59,134 --> 01:03:04,114
Now she's on hospice, and it looks like today may be her last day on this earth.

1298
01:03:04,274 --> 01:03:06,634
And I just wanted to use that to send a message.

1299
01:03:07,654 --> 01:03:08,334
Cherish time.

1300
01:03:08,734 --> 01:03:10,114
Cherish your time on the planet.

1301
01:03:10,254 --> 01:03:11,214
Cherish time with your family.

1302
01:03:13,374 --> 01:03:14,534
Shout out to Aunt Nancy.

1303
01:03:14,754 --> 01:03:15,294
This one's for you.

1304
01:03:17,234 --> 01:03:18,114
I'm sorry, brother.

1305
01:03:18,194 --> 01:03:18,754
That sucks.

1306
01:03:23,754 --> 01:03:25,394
And yeah, time is scarce.

1307
01:03:25,694 --> 01:03:27,694
make the most of it

1308
01:03:27,694 --> 01:03:29,254
love you all freaks

1309
01:03:29,254 --> 01:03:30,334
Stan will stack seven

1310
01:03:30,334 --> 01:03:30,914
peace of love