coming to you on a Wednesday.
First Wednesday of it in quite a while, Matt.
The show must go on.
We will be traveling to Nashville separately
for the Imagine If conference later this week.
So we decided, hey, let's get it over with Wednesday,
the FOMC meeting day.
I imagine we're going to miss the announcement.
because of timing here.
I think we should get word at 1 p.m. Eastern.
Maybe we'll catch it on the tail end of the show
about the rate cuts, if they materialize,
and how big or small they are.
I'm tired, I'm not going to lie.
I was in D.C. last night, got home at 1 a.m.,
and a little groggy today.
How you doing, Matt?
The hair looks good.
fresh cut.
It's time to change it up.
Cut off a lot of air, man.
Gotta get ready for the cattle bike.
The cattle bike's upon us.
The cattle bike is upon us.
Yeah, a lot going on out there.
A lot going on.
Let's just jump right into it.
Let's go to Clark's dashboard.
Price pump this week. Price Bitcoin is at 115,700 cuck bucks. One cuck buck is going to get you 864 sats. We're at a $2.3 trillion market cap on the dot. We're at block height 915,125, which means we are currently 139 blocks away from the next difficulty retarget, which is estimated to be a 4.8% upwards adjustment.
So that should happen roughly 25 hours from now,
tomorrow, September 18th, 2025.
There are currently 9,164 transactions.
In Clark's mempool, if we go over to mempool.space,
there are 128,585 transactions.
And on this note, I don't know if it was Rind,
now who was tweeting it but um there's been a lot of discussion about the sub
one sap per v byte transaction fees being accepted by
the mempools of mining pools and mempool.space as you can tell um
and somebody ran the numbers i don't know if it was orange surf or
ringed l oh it was orange surf
no it was not
I think it was Rinsdale
long story short I can't find the tweet
but
since the sub
one sat per v-byte
mempools have become
normalized at the pool
level miners have
collected I believe 7.74
bitcoin
in fees
more than they otherwise would have if they weren't
accepting that. Oh, that's higher than I expected.
Yeah.
Yeah, I mean, it's important. I think it's important to
realize here that
most nodes by default
are not relaying any transactions
under one set per byte,
but they are valid per consensus
rules.
I guess there probably are
some modified nodes
that are relaying them.
I know Peter Todd has a project
called Libre Relay
that I think has
looser relay policies.
I'm not sure if they're also
relaying sub one sap per byte.
And obviously you can also
send it directly to miners.
But they're valid
per consensus rules
and they're getting mined.
They are.
And I was wrong.
It wasn't either of those two.
It was Mononaut.
Logan pulled the tweet.
5,000 blocks later,
here's an update on
sub one sap per b-byte
summer mining economics yeah as of height 915 000 pools and mine a total of 9 million 2 455 subset
transactions across 4 743 blocks earning an additional 7.49 bitcoin in fees for only
only 1951 mega V bytes of otherwise unused block space.
So it seems to be more profitable.
I, yeah, that's fascinating.
That's way higher than I expected.
I mean, I still think miners kind of shot themselves in the foot.
I mean, you're telling me these people wouldn't pay one separate byte.
Uh, probably not, but cat's out of the bag now.
So who's making actions?
Like I wanted to pay 10 cents instead of 20 cents.
Yeah.
So they're probably going to make a double.
Well, the nickel and dime when mempools are relatively empty,
empty, but when it's the other way around, when they're,
when they're full and there's a ton of demand,
that's going to get pressed up so might as well scrape up as much revenue as possible during
empty mempool periods no but you know what i'm saying like if like these people that are making
0.3 sat per byte transaction sat per v by transactions you think they wouldn't make a
one sat per v byte like it's not that big of a difference no hey so like is this is this net
new revenue is that actually net new revenue the seven bitcoin or would it have been more likely
14 Bitcoin if they hadn't raced to the bottom and lowered the rate. I mean, it's all speculation,
but, and once one of them does it, it kind of forces the hand of the others. So I think you
could kind of argue that they, maybe they didn't even have a decision to make once a large, I think
F2 pool started. But whoever, it was like F2 pool or amp pool. So it was like,
50 of the hash or 20 of the hash starts mining sub one sap per byte and you don't do it then
you're going to miss out um so maybe it's a moot point i see soap miners at 21 000 sets
asking if i sold my hair for sats no i actually paid paid someone to take it off my hands um
there's a lot of hair or i see great gee sap 21 000 sets shout out to the young dads out there
They're hustling and stacking like their life depends on it.
I love how we have a soap manufacturer and a ghee manufacturer are our two top zaps so far.
What is it?
Nose to tail.
Get all of it.
Mononaut, if you're listening or anybody paying attention to the dynamics of the subset per V-byte transaction fees,
fees uh in mempools would be interested to run that opportunity cost analysis
that was a really good point like how do we know that it's actually an additional 7.49 bitcoin
like what those trend those transaction problem if there was an inability to send a subset
per v by transaction like you can make the argument it would be higher right but it is
within valid consensus rules.
We have MAD21, ZAP21,000SATS, subfreaks, he says.
And I mean, obviously, it wouldn't be in RHR
if we didn't talk about NADS versus Core every week.
And obviously, there's some parallels here
where large, large op returns can be mined,
even if defaults aren't changed
and the majority of the relay network
isn't actually relaying them,
which is what we're seeing with sub-1SAT transactions.
Well, on that note,
another mempool.space team member
ran the numbers on that.
I thought this was pretty interesting.
I retweeted it, Arn Serif.
This was actually from Arn Serif, confirmed.
Logan pulled up the just 0.007%
of op return outputs created this August were larger than 80 bytes.
How intriguing. So I think this is
pertinent, important, empirical data
of how the actual problem is.
Because depending on people's perspective, they have two different takeaways
from that.
How would you describe the two different takeaways?
The knots take away from that is that filters work. And because relay defaults are set at 80, we don't see transactions happening over that size.
And then the core side or the relaxing transaction-related fault side would say that even if we relax it, operaturn is significantly more expensive than embedding it in the chain in other ways.
So we probably will not see an increase in operaturns regardless.
Yeah, that's a good point.
So those are the two opinions.
I would say that probably just because of the Streisand effect of everyone talking about this every single fucking day, we probably will see more upper terms regardless of the defaults change or not.
At least in the short to medium term, just because everyone's talking about it and people like to troll.
I see map 21 zap 21,000 sets.
He says sub freaks.
Thank you, sir.
appreciate you
appreciate all of you
yeah the Shrysan effect is going to be
that's going to be the most annoying thing
calling it now
core version 0.30
is going to get released
and
you're going to get op return trolls
that automatically
send transactions with op returns
at the limit that is set
by default in the new core implementation,
the new core version.
Oh, I don't know about that.
That'd be expensive fucking transactions.
I think there's people who are...
I like to rebel in schadenfreude,
and we'll do that.
And then people will point out,
see, look, we told you it was a terrible problem.
And then similar to what happened around the last halving
with the ordinals, inscriptions, NFT bullshit,
it'll fade pretty quickly after.
I don't think we're going to be talking about it in a year.
Neither do I.
Get in here, trolls.
I know you're all going to say we're co-opted.
Yeah, it is crazy.
All right, let's get to the list.
Fed rate cut, question mark.
Is it coming?
Looking at PolyMarket's market for this particular question right now,
Fed decision in September, question mark.
Right now, 25 BIP decrease is sitting at 91%,
50 BIP decrease at 7%, no change at 2.3%,
and a 25 BIP increase at 0.1%.
So if we're using Polymarket as a predictive tool to try to guess what Jerome Powell is going to do in a little less than an hour, it seems like we're going to get a 25-bip federal funds rate target cut.
Is that when it happens?
Yeah, I believe the FOMC meeting is technically at 1 o'clock.
The press conference is at 2.30, but typically the report...
comes out like an hour before.
And then you'll have Brumpal take the stage
and answer questions about it.
Do you think any of the Fed chairs
are betting on Polymarket right now?
I think it would be a severe conflict of interest.
But you know, like that's the thesis
of why prediction markets work
is because ethically dubious people
will bet on insider information
so that they're more accurate.
The whole theory of prediction markets
is basically incentivizing people
to be ethically dubious
to leak the information ahead of time
for their own personal gain.
Yes and no, we'll not be surprised.
So how do you think the price of Bitcoin?
Do you think it's priced in,
this 25 bps cut?
Let's say it's a 25 bps cut.
Let's have a little fun speculating.
What's the price of Bitcoin tomorrow?
obviously freaks to stay on one stack sets but
let's have a little fun i think it i mean looking at if we
if we what are we at right now one believe in the
the probabilistic certainty displayed on poly market at 91
percent it's pretty it's a pretty confident prediction market right there
um and so yeah i bet it's priced in already quote unquote nothing's ever
priced in, but I think
traders are priced in.
I would not be shocked if we sell the news event.
Yeah, sell the news event
at 1.13 tomorrow.
You think we'll be at 1.13 tomorrow?
Yeah, it's just
a short, small dump.
A little small dump. Do you want to bet on it?
No.
I do not.
What do you think?
You think we pamp?
it could be it's probably 25 bips and uh it could be a selvin news yeah this is why i don't want to
bet on it because um i think the rate cut is less well have less of an effect on the price
than um comments that drum pal makes particularly around adding something to the dual mandate
the third mandate yeah the third mandate if he expands on the third mandate it becomes pretty
clear here logan well the third mandate is yield curve control right yeah yield curve control but
in any other term that you can use besides yield curve control that's uh yeah i mean i think uh
uh i i i think they probably going to signal that we it we starting a rate cutting regime And I think the market is not fully efficient
And I think we probably go up this afternoon into the evening.
But obviously, Stamble and Stacks ads don't trade on the short term.
but
I guess we'll see what happens
I was kind of hoping
we were going to rip tomorrow but it's just such a
we have such a hectic schedule
over the next three days
that we just wanted to make sure we got it out there for you freaks
yeah
Arthur Hayes surfaced this
from Bloomberg
last night
fed third mandate forces bond traders to rethink age old rules
the Federal Reserve's dual mandate of price stability
and maximum employment may be supplemented by a third mandate to pursue moderate long-term
interest rates. As cited by Donald Trump's pick for Fed Governor Stephen Mirren, who I believe
was officially confirmed earlier this week, the mention of the third mandate has sparked debate
amongst analysts, with some seeing it as a sign that the administration intends to wield monetary
policy to influence longer-term bond yields. The potential for the Treasury and Fed to intervene in
the bond market to bring down long-dated interest rates has raised concerns about the risk
of adverse effects, particularly inflation and the erosion of the Fed's
independence. I think comments around this
third mandate specifically will have the most
pronounced effects on the price of Bitcoin
and other assets. I think that's what the market's really waiting for.
Just forward-looking statements in general, right?
Yeah. I mean, meanwhile, we're in a quiet recession.
I don't know. It'll be interesting to see how it all plays out, but
risk reward wise, like, I mean, I think Bitcoin looks fantastic here.
It really does.
I don't know where else I would put my money.
My conviction only grows stronger every day.
We got orange in the chat saying 120 by end of week. Is that orange surf?
that's the fake chat
the fake
if you want to
live chat
either go to
zap.stream
or
download Primal
in your favorite
app store
yeah another thing
you don't have it on the list
but we were talking about
mining earlier
and I think it would be
remiss of us
not to touch on the fact
that over the last week
the Bitcoin network
has averaged over
a zeta hash
of hash rate
I believe this is the first time
obviously
24 hour estimates
have
pinged one zeta hash, but you
I like to get longer term data
longer term estimations to make it concrete. And so if you go to mempool.space
slash mining, you'll see that over the last week we've averaged one zeta hash.
It was 1.02 zeta hash a couple of days ago. And this is pretty
profound. I mean, I think to put that in the context
what does a zeta hash mean? It means that in aggregate
around the world. Anybody that is running a computer, these days mostly ASICs, that are
running the HashCash SHA-256 algorithm, they're producing hashes in an attempt to find a hash
below the current difficulty target. They find that hash. It allows them to add a block of
transaction so the network can get rewarded in Bitcoin. So one zeta hash means that all those
computers running that algorithm around the world are creating one sextillion, sextillion
hashes per second,
which is pretty wild to think about.
Pretty big.
Yeah.
Sextillion.
That's like a number, right?
What does that come at?
It's like a thousand,
million, billion, trillion,
quadrillion.
Is that what's sextillion after that?
Or is there one million?
Your question is how many zeros?
Yeah.
That's Maple.
How many zeros
And sextillion
You'd have
Heptillion or septillion
As five
And then six
21 zeros
Oh
I don't know
There's different naming conventions for sextillion
It says 21 or 36
How could it be two answers
is there like an American sextillion
oh yeah short
scale is English speaking countries so 21
zeros
21 zeros every second
which is pretty insane
and highlights the
the insanity of
of cryptography
in hashing the fact that
it's pretty insane
yeah
love to see it number go up yeah and this is i read a newsletter about on monday but um
yeah i think it's extremely profound considering post china mining man the network hash rate fell
to around 82 um exahash per second and that was in july of 21 so in four short years
hash rate has, I believe, the number is like 12.3x'd,
which is insane to think it took
11, 12 years to go from zero to where it was
post-Chinese mining ban. It's 12x'd in four years.
So I think this is where the signal is, or at least some of the signal
is, is in the mining market. And despite the fact that hash price is
relatively low, Bitcoin price has been hovering in this range.
hash rates getting plugged in.
And I was talking to somebody at an event last night that is convinced that
it's Tether plugging in a lot of this hash rate and had some interesting
for a bit. I mean, I don't, I think that's been,
hasn't really been a secret they've been talking about it.
And they have a strong incentive to do it at a break even or slight loss
price point.
I think they think of it as like existential insurance,
considering they hold so much Bitcoin and rely on it so heavily.
Yeah.
Very interesting conversations around mining last night.
Interesting comments on Proto,
whether or not they'll actually be competitive with Bitmain and MicroBT.
person I spoke with said
they think Protos are just self-mine
with all their machines.
Interesting take.
I think the price point
and the risk
and the vendor lock-in
with the chassis
set up and the uncertainty
of chip efficiency in the future
proto is expecting their um their end clients to take on too much too much risk with vendor lock-in
that may not make sense for rational actors i mean if they can't convince anyone then maybe
but it seems like they've already convinced what it was corsai that didn't you go to a
corsai facility while you're down there that was already running yeah yeah if they can convince
anyone to do it besides themselves like it's got to be strictly better for them from a business
point of view because they're not taking the risk like mining is such a brutal fucking business
they're a huge company employees they lack the specialization to like i don't know i they they
could potentially build out a vertical mining arm but that's a lot that's a lot of fucking work
and it's a very difficult business selling picks and shovels like selling the hardware
is strictly speaking like a much better business yeah yeah i mean look at our like
two of my favorite 1031 portcos is giga giga and upstream and it's because they sell the
storage containers and the generators like they're not actually mining
no it's such a great business to be in no yeah i'm still digesting the conversation
but i thought it was an interesting perspective um when i had i mean if they have to prove it out
then it's a loss leader kind of to eventually majority of business being selling the hardware
right yeah but if they don't have to prove it out then why do it and uh i don't know like miners in
general tend to be a little bit higher up the risk curve they're willing to take chances the status
quo isn't great for i think there's a decent amount of miners that would take a risk on
this novel hardware um at the very least just to diversify their risk from uh micro bt and
bitmain yeah one other comment you know surfaced from this conversation
and then we can move on to the next topic,
was the inability by equity analysts specifically
to correctly price the publicly traded miners
in terms of who's actually running an efficient business.
They're not just public miners, but miners in general.
Valuations are still very...
The analysis on the valuation is still very rudimentary
and haphazard this person would put forth.
Companies that are running relatively lean,
with low SG&A, low OPEX,
and high profitability aren't being rewarded
in terms of premium to their equity value
compared to competitors who are not as efficient
and spend a bunch of money and aren't as profitable,
which I thought was interesting.
It makes a lot of sense.
that um yeah i mean i think yeah go on what were you saying i think it makes a lot of sense that
you'd be invited it makes sense to me that this there is some there is some uh misunderstanding
on behalf of people um people diligencing and valuing these companies yeah i mean i think just
across the spectrum on bitcoin companies uh people are still trying to figure out how to value them
I mean that's part of our edge right
yeah
I see Bitcoin Ranger zapped
11,000 sats
and then he has a
a Google
doc link about paper Bitcoin
Google doc link
no Google doc links in the chat
I don't like clicking Google doc
links
CB zapped 42,000 sats
the Midwest is building local
at the end Bitcoin conference this
saturday 10-4 during the blue brews and bbq festival in farmington mo missouri right oh and
it's 10-4 is 10-2-4 lineup includes texas slim junior burdick heather seals dale cooper and
amanda winn discussing community education abundance and food security then he has a primal link
Primal
chat is lively this week
dude it's like
we shipped some
like it's
being iterated on
on the go as we go
it's already a lot smoother
than it was last week
feels like the momentum
I'm ready for the cattle bike
the cattle bike is here
that's fucking good
I'm putting
Miljana if you're listening
I sent you a screenshot
did you see
BTC pins earlier
was like
oh is Powell going on a date
with three men
yeah
a mandate
alright
let me give this
bug report
and then we'll get back to it
alright
What's the bug report?
You should be able to see it. You're in the group.
I just sent you that.
Oh.
Oh, Firefox.
All right. Moving on the list.
This was a big topic of discussion yesterday because it was truly mind-boggling
that the Attorney General of the United States would come out and say this,
but she sat down with Katie Miller,
who I believe is Stephen Miller's wife.
Oh, is that who that was?
I believe so.
I could be wrong.
Oh, that makes it even more interesting
if that's who that was.
Right?
Let me verify that.
I'm pretty sure it's the case, but...
I mean, I don't think this was that surprising.
Oh, no, there's another.
It's not her.
Stephen.
Miller's wife's name is Katie Miller, but this is a different Katie Miller.
Who is the director of the White House.
Different Katie Miller.
Not Stephen Miller's wife.
Oh, wait.
I'm confused.
Is this...
Stephen Miller's wife?
Somebody in the comments should know.
According to Maple, there's 2,000 Katie Millers in the United States.
Yeah.
That's actually less than I expected.
No, it is Stephen Miller.
It is Stephen Miller's wife.
Well, anyway, I didn't think – you were actually surprised by this?
Yeah, I mean, this is like literally –
I mean, it's fucked up.
fighting against for more than a decade.
There's no such thing as hate speech.
That's what BLM, and I mean, this is a term,
hate speech itself is a term that was birthed out of the halls
of woke universities and Marxist indoctrination camps.
And the fact that at least Pam Bondi
is trying to use the term to weaponize it against
The left now is just, again, we've warned about it time and time again.
Be careful what you wish for.
But I would have thought at least that the Trump administration would have the wherewithal to understand that using Charlie Kirk death to introduce hate Dude power corrupts Would really fly with people Power corrupts and people in power like to control speech
It's a, I think it's a cross partisan issue.
It's like, who's just,
whoever's in power wants to control people and control their speech.
And they always look for excuses for it.
So I will say before Kirk's assassination,
And I was waiting for the other shoe to drop in terms of our new administration to try and control speech even more.
I mean, we are seeing the different KYC rules come into place, protecting the children and whatnot.
But then immediately following them arresting this alleged assassin, the writing seemed to be on the wall.
It was very clear what the narrative was.
The narrative was you had a young kid who got radicalized on the internet and that we need more controls on the internet.
And the problem with this is it's a good excuse because it's probably true.
This is an issue we've talked about in the past.
The modern internet, the digital age, the social phenomenon is really bad for people.
and it's bad for adults but it's especially bad for kids um and now we're seeing it being used as
an excuse to further control speech now i like i i actually had i had drafted a post about this on
saturday and then i was like it's too soon after his death like i don't want to speculate on it
um but to me like as soon as we started to see like oh discord chats you know trans radicalization
he was a reddit kid did you see like the they interviewed someone he was like oh he's like
your typical reddit guy like all the right all on that side and then they pulled the trigger and
actually tried to or at least are claiming that they're going to act on it and then also on the
right you have all the doxing and the um getting people fired from schools and calling on elon to
ban accounts and whatnot.
So they had like the cover for it.
It kind of built up relatively quickly.
But I did put a tweet.
I agree that it's like,
it's an absolute disgrace
that they're doing it in Charlie's name.
I mean, I put a,
I linked a tweet there
where he specifically calls out hate speech.
Like he would 100% be against this as a policy.
Yeah.
Logan, you have the tweet?
Logan. It's so fucked up. It's like he knew it was going to happen.
Hate speech does not exist legally in America.
There's ugly speech. There's gross speech. There's evil speech.
And all of it is protected by the First Amendment. Keep America free.
That was 2024. That was last year.
Yeah. And just to tie a knot on this,
Spam Bondi has since.
There was an incredible backlash from these comments that leaked or didn't leak,
but were published yesterday afternoon.
I mean, particularly from the right, like, what the hell are you doing?
She has since walked back the comments saying, no, I meant threats.
Wait, she didn't walk it back.
She did.
She doubled down.
She said, no.
Well, she walked it back to, I mean, threats, which is not enough.
Because I think this gets to a conversation.
I'm sure you've seen it like the.
No, no.
Where's the statement?
Let's look up the statement that she said.
It's not on her.
It's not on her webpage.
Other people posted it, right?
She went on like Fox or something.
I don't know.
Maybe she posted.
Oh, yeah.
Here.
It's got community noted.
She said hate speech that crosses the line into threats of violence is not protected by the First Amendment.
It's a crime.
For far too long.
we've watched a radical left, normalized threats,
call for assassinations, and cheer on political violence.
That era is over.
Under 18 U.S.C. 875,
is a federal crime to transmit any communication
containing any threat to kidnap any person
or any threat to injure the person of another.
Likewise, 18 U.S.C. 876-115,
making a felony to threaten public officials,
members of Congress, or their families.
You cannot call for someone's murder.
You cannot swat a member of Congress.
You cannot dox a conservative family
think will be brushed off as free speech.
These acts are punishable crimes
and every single threat will be met with the full force of law.
Free speech protects ideas, debate, even dissent,
but it does not and will never protect violence.
It's clear that violent rhetoric is designed to silence others
from voicing conservative ideals.
We will never be silenced, not for our families,
not for our freedoms, and never for Charlie.
His legacy will not be erased.
Yeah, I mean, so I guess it is a little bit of a walk back,
but it's more like a legalese walk back.
I mean, I agree that you shouldn't be calling for assassinations of people.
I don't think that is protected speech, I think.
But it's kind of like the left's words are violence thing.
And so then you see how enforcement plays, right?
And the crazy thing is you can bring cases against people that lose in court and still quell speech and ruin their lives.
Or maybe not ruin their lives, but make their lives much more difficult if you have the AG coming after a big target.
So we'll see how it goes.
You can clearly tell that it's a very partisan statement.
And I'm, you know, definitely don't side with the Democrats here.
But like when you start to see partisan, when you start to see partisan action coming from the government, it's usually a pretty bad sign.
So it's like, who's going to get targeted here?
It's going to be like, it's going to be like damn influencers, right?
It's going to be like people with big platforms.
Yeah, well, this is where it gets murky.
I think the two individuals who are squarely in the middle of the target right now
are Hassan Piker and that guy Destiny.
If you see the clips, they are actively calling for people to stab, shoot, and termite.
Yeah.
but as it pertains to
like federal government action
like
like I think
especially with how big those two guys platform
is like I've never watched their shows but I've
obviously seen people talk
about them on X and
other other platforms I believe
they have audiences that that begin
to peer into the
did you know that
existed before this
that who
the Hassan guy
I was aware of him but like
never I had no idea he existed
until this week yeah
but yeah I mean he's actively
calling people to gut conservatives
and let their blood
flow in the streets which
who knows I mean he pulled like
a in Minecraft
sort of move
on
on one of his streams
but
But yeah, I mean, I think that's where you get into muddy territory.
If you have that big of an audience, that much influence,
is that actually inciting violence?
Were shows like this, and he said this years ago,
I think that particular quote,
are they contributing to the normalization of the idea
that you should attack your political rivals physically
and attack their lives specifically?
And yeah, it's very weird.
But the federal government, I think you said that as it pertains to the canceling of liberals who came out and expressed revelry in the aftermath of the assassination of Charlie Kirk.
I actually think that's fair game too in terms of if you're an employer and you have freedom of association with the people that you hire and you believe that their views are a bad representation of the business or the school or the hospital, whatever it may be.
I think that's fair game.
I mean, I think those people are disgusting.
I think they can go fuck themselves.
But I think a lot of people that are supporting their firing were complaining about similar things happening to the right, like a year and a half ago, two years ago.
And I think there's a little bit of, I mean, there, and it's not like isolated cases.
There's like lists, like people are like making lists, automating things.
At first, it started with like people that made particularly egregious comments.
and then it's like gone down and down and down to i don't know like is a minor celebration still
fucked up yeah minor celebration is still incredibly fucked up but like there's a very
long list that are being made yeah very weird times very times to say the least and like is
that protected yeah like i mean i guess like you can't that's obviously not something illegal
calling up boycotting employers, stuff like that, you know, vote with your wallet,
vote with your mouth and vote with your wallet. But it's like this social media,
there's so many different aspects of this social media, like mob culture,
whether it's like on the conspiracy side or whether it's on like the cancellation side or
the harassment side. And then like,
I think there's obvious cases where people are threatening violence and those,
you know, should be dealt with, but then there's a lot of middle ground.
Where it's not so obvious.
And so what we're going to see is we're going to see vague enforcement.
And that's where you start to see like corruption push through is when you have
non-objective enforcement.
And I don't know if you can really have objective enforcement
in a lot of these situations.
It is kind of subjective.
Yeah.
Agreed.
And I wrote a newsletter about it last night.
I think obviously last week when we recorded,
it was very raw.
And it was the immediate aftermath of what happened.
And what we're talking about right now
is highlighting the sort of disgusting reaction
that many people have had.
And I don't even want to make it a right versus left thing.
I think it's just a moral thing.
Are you good and virtuous or evil and nihilistic?
And I think many people have been focused on that, rightly so,
to a degree.
But I think more importantly,
one of the best ways to combat that culturally
is to highlight the good that's come out of it.
There's been a ton of people on the opposite end of the spectrum
who were incredibly moved to action, whether that's going to church
or saying that they're going to try and be a better person.
There were many people who, for the first time,
were exposed to Charlie Kirk videos and the way he engaged in dialogue
and the messages that he was putting out there and really connected with them
and said, oh my gosh, I can't believe this happened.
This is terrible that this happened, and we need to do better.
And I think in terms of focusing your energy, I think it's focusing on the silver lining good that has been coming out of this and leaning into that and sort of signaling publicly like this is what we should be focused on is doing more good like this.
Because evil and darkness, it's an insatiable sort of energy that feeds off of people reacting to it and getting angry from it, getting angry by it.
And that's not to say there shouldn't be accountability and we shouldn't try to figure out ways to make sure that people are legally reprimanded when it makes sense.
But I think in terms of focus of energy, focusing on the good and sort of the hold the door mentality, like lean into that.
yeah i mean i will just say that anyone who you know celebrates murder can go fuck themselves
yeah but uh i don't know i i
this our country is it feels like it's more split than it's ever been during our lifetime
Um, and, uh, what like this, like, it's like meme of like a peaceful divorce, I think is
like completely naive and bullshit.
Don't know how that works out in practice.
I haven't heard anyone actually explain what that looks like.
That doesn't make any sense.
And I think social media combined with like the algos and the engagement bait and everything
is just making everything so much, so much worse.
um like the incentives are just so fucking messed up and it's just like everyone's just eating each
other yeah i mean there's some people there's some people on the left that are really really
fucking evil and despicable uh that are like drumming up people and and and you know calling
for assassinations and whatnot but there's also like a lot of people that are just fucking retarded
and they just follow all the engagement traps right and they just get locked up in it
yeah scott adams yeah like that to them to me with that some of them it's like almost a pity thing
no it's certainly scott adams scott adams did a video on this yesterday i mean it's
similar to
something we talked a lot about during
COVID, which was mass psychosis
that took over the country.
He said, what we're witnessing is
that in another context
with
this reaction. It's a
result of literally
Scott Adams is a hypnotist by trade
or one of his trades.
He makes the point, the propaganda
of Trump's Hitler, the writer
fascist, they're trying
to kill you has been literally
the drum has been beating this propaganda beating since trump first ran for office in 2016 and you
have a whole generation of young people specifically who've had this message beat into their heads
multiple times a day for many years and they just have been programmed to be npcs who take the
message and repeat it and to your point i pity those people i see marco zappos 21 000 sets Marco from Primal he said sup freaks Mark Zapp does 58 sets
On air news, Maple AI releases secure voice chat.
Talk to Maple, it talks back.
Fight corrupt power with Freedom Tech.
Oh, that's dope.
That's a feature I wanted.
Launch more features.
Zapp us while you do.
I like it.
Mark, that's going to be a big feature for my family
because that's one thing I've been doing in the car
with the boys um and i've only been able to do it chat gbt um in very specific context but we'll
do voice to voice and we'll just ask questions like my my oldest was like dad how long would
it take to count to 100 trillion i was like chat gbt how long would it take to count to 100 trillion
and how long do you think it would take
i don't fucking know uh 60 years 30 million years
you should have bet me 30 million years but now and it's like i've been and the point i'm trying
to make is i've been very sort of that's crazy conscious about the questions that i'm asking
chat gpt while in the car with the boys and letting them talk but so now this exists in
maple like we can we can use maple voice instead not to worry about that oh wow yeah i see the
microphone button that's dope yeah um well thank you marks um while we're on the top i know this
is supposed to be a short rip and the list is actually kind of short we we'll get back to
bitcoin in a second uh marty what's your opinion on uh like the conspiracy theories around uh who
killed charlie fog of war too early to tell um don't want to go in any direction or another but
I will say that the discord chats that were released by the FBI are very
suspect.
Yeah.
Very suspect.
Yeah.
I mean,
I think there's a decent,
someone was making the case that.
So there was a discord chat that was released between the alleged assassin
and his trans boyfriend,
or I guess,
girlfriend,
whichever gender you want to choose.
male pretending to be a girl um and uh i mean there was an argument that it was uh
a way to protect the trans pretend like yeah that he was part of it right which i think is like
not the craziest argument but yeah it didn't read like actually people talking to each other
um it seemed pretty suspicious um i mean this is also part of like the social media cycle right
is that people are just rushing to make arguments on, you know,
what the conspiracy is, who killed what, get engagement out of it.
It's like a short, it's even shorter than the 24 hour news cycle.
It has even lesser repercussions.
And I don't know how you'd necessarily go back from that.
I mean, I've seen like claims like,
like why don't we see the footage from like the cameras that were like right
next to Charlie. I've seen claims that like the security team was involved.
It's like, well, first of all, like,
since when in like an investigation to like people just released like the
evidence to the public a day after, a day after an assassination,
that's not, that's not how it's ever worked in the past.
Like it's not like you just get leaked every piece of footage and every piece
of evidence that people have. But yeah,
I do agree that it is pretty early to make any kind of conclusions.
I will say that hunch wise, like, I think this was trans violence.
I think it was probably this kid.
I mean, his dad has real proof of work in terms of being like a sheriff and turning in his own son.
It lines up with the growing trend of trans violence we've seen.
The whole radicalized on the Internet actually does line up, logically speaking.
um now the question does if you if you do want to enter the conspiracy realm
are there actors that are riling up trans violence in these rooms um and could that be
the israelis could that be the deep state could that be fbi cia nsa uh russia china yes like that
actually lines up to me as well um but i think that's different than necessarily like
deep state being behind the rifle directly um yeah even though the result is the result is the
same like i don't think the shot was like the most difficult shot uh especially for someone
who's a hunter already um you know like i know people that are amateurs that can make that shot
um but yeah we'll see we'll see how it plays and then i like i do agree with the sentiment
that first of all that charlie was probably one of the most outspoken pro-israeli people
um in american politics that was not jewish and he was he was turning
and it lines up completely that he probably had a falling out with bb because netanyahu can go
fuck himself and i feel like it's almost consensus opinion now that most people hate netanyahu and
his government.
Even in Israel,
which is.
Yeah.
But like,
I mean,
but like,
and so at the end of the day,
for better or for worse,
and definitely didn't deserve it.
Like,
I think Charlie had a lot of enemies.
I think he had enemies
on the pro-Israel side.
He had enemies on the anti-Israel side.
He had enemies on the left.
He had enemies on the right.
And there's a lot of people
trying to take advantage
of the crisis.
Um, so there's like motives fucking everywhere. Um, but yeah, well, uh, this is, uh, I think
the story is definitely far from over. Um, and it's still so, so recent.
Yeah. Like I said, fog of war, I'm going to let more information come in. I think I completely
agree with everything you just said. I will say like the conspiracy theories of the guy
sitting behind him, like had like a very small gun, like Sean, I don't believe that at all.
That his security guard
Did like a sideways
Shot through the arm or whatever
No
Actually there was a good
100 people standing around him
Yeah, no, makes no sense
There was
A good video analysis by
I believe a military sniper
His theory was that actually Charlie was wearing
I saw that
It hit the titanium vest
Popped up
I think that makes the most sense to me.
Titanium plate, except the sheriff said that he wasn't.
I think I saw something that the sheriff said he wasn't wearing a plate,
but it looked like he was wearing a plate.
I mean, in that video, it looks pretty clearly that it hit his shirt first
and then it bounced.
Yeah, I saw that.
And they definitely have more.
I mean, hopefully we see the –
they should release eventually, like, the super HD professional video
that they had, like, camera that they had right next to them.
behind them yeah they had one behind and one in front um and once again i don't think it's
surprising that they haven't yet but i think it's important for people to realize that if he was
wearing one of those slim titanium vests um or something similar to that the guy that i think
you're talking about it was a youtube video right it was like a specific he specifically speculated
it was this thin titanium vest titanium plate um because he's wearing a t-shirt right it's like
Otherwise, you start to see a lot of printing.
That's for handgun calibers.
So also the idea that if he wasn't wearing the plate, it wouldn't have deflected up to his neck.
It's like, no, he would have had a kill shot on the chest instead is probably what would have happened.
And I think the craziest thing for people to grapple with, particularly in our sheltered society, is even these people that have super expensive security details and whatnot are very exposed on a day-to-day basis.
and it's something that we saw with COVID, right?
I called it like the, it's like the bumper bowling dynamic.
It's like people live in padded walls
and they think they can get away from all sorts of risk.
So when they get exposed to like a vulnerability
to like a feeling of helplessness,
they act in crazy ways.
But like, yeah, I mean,
you can pay $5 million a year for security
and like that doesn't cover snipers on roofs and stuff that's you know four guys that are
ex-military that's the other thing like they're like oh the security is involved because
they're like ex-special forces ex-delta force you know like ex-missad and stuff it's like where
do you think the private security guys come from they all come from those from that pedigree um
I don't know. It's crazy.
It is.
Yeah.
I'm going to wait for more time to pass,
more information to come to market.
I will say
narrative does not
really make sense to me right now,
whether it's those Discord chats.
I think it's plausible that it was an attempt
to protect the boyfriend.
But still weird.
That has to be confirmed.
And why did they release that?
It's kind of weird, right?
Yeah.
And then even like just like the,
the series of events,
like the way he put the gun together,
took it apart,
hit it in the woods,
like supposed to go back where it's all very odd.
Yeah.
I agree with that too.
We'll see.
But on the opposite side,
like if he's,
well,
we'll see if maybe he dies in custody.
I think if he dies in custody would be,
smoking gun
yeah
but like the opposite is true too right
like the fact that like he's alive
you know who his father is
like we already know way more about this guy
than we have
with the two Trump guys
and
what the hell was that
not Dylan Roof, Dylan Roof is another one
so like that
the opposite is true on that front too.
And then we see like all these people celebrating his fucking death.
So I think a lot of them would have pulled the trigger if they could have.
The hell was that kid's name?
Thomas Crooks.
That's what it was.
Which one was that?
Was that the first Trump shooter?
Yeah,
that was Butler.
And that was like another weird one.
Like it had no internet.
presence um yeah i mean i agree like it but i i would also say that i think gen z is a little bit
more uh like to boomers it's like crazy that they're not like first and last name on the
internet uh i think gen z is like a little bit more like nymph pilt in a lot of ways particularly
like the elements of them um but yeah that one i mean that one reeked and we never really heard
they they blew off his fucking head or whatever and then they just we never talked about him again
yeah and then there was the other guy at the golf course who was connected to ukraine like he was
like connected to a bunch of shit never but we never heard about him again either right i don't
know anything about him his name his name was ruth that's what it was i was getting them mixed up
something ruth his last name was ruth um i think dylan roof was that disgusting kid in south
carolina who shot up that church um okay well enough with the speculation um i would just say
don't believe everything you read on the internet.
There's no awards for
figuring out what happened
sooner rather than later.
Fog of war.
Charlie's fucking dead.
I'm not going to bring him back to life.
Alright, next topic.
Blue Sky implementing age verification
in South Dakota and Wyoming
due to
laws have been passed in both states.
So Blue Sky has begun requiring users in South Dakota and Wyoming
to verify their age in response to new state-level online safety laws.
These rules are being sold as protection for kids,
but the reality is they force everyone to hand over sensitive info
just to stay online.
Anonymous access is being quietly pushed out,
replaced by systems that expect you to verify who you are
before you can speak, share, or connect.
This is very interesting.
I mean, we mentioned it a couple weeks ago, like Texas.
in Florida with the porn
and now a blue sky in South Dakota, Wyoming.
You see these very historically conservative
say it's particularly from a civil liberties perspective
leading into this first.
Yeah.
And
no, I mean, Texas isn't liberal though.
I know. I said...
Oh, I see what you said. You said the opposite.
yeah um i mean look i think they're all gonna fucking do it and elon's supporting it
uh like i think this trend was already accelerating and now they have the charlie
excuse to who's radicalized on discord and reddit um and uh i think the powers that be
want it really badly like the palantir mafia really fucking want it um did you see that's
the other thing about the chart is like see altart comments with you all uh yeah i listened to the
i listened to the conversation what comments specifically i mean i find it extremely hard
to believe that they're nuts oh he's full of shit he's like oh we don't have a contract with
can't say because we refused on moral grounds to spy on americans yeah how are you doing
how are you doing any of this without spying even if it's just metadata like you
objectively are collecting this data and using it to identify and target people.
Yeah.
That's why like all these,
like you gotta just,
you follow the money,
you follow the incentives.
It gets pretty dark pretty quickly.
And I feel like this trend accelerates.
And what I was going to say is,
you know,
like if you,
if you do believe like the,
the,
the super dark theories about Kirk,
that it was like a straight-up Mossad hit job
with CIA involvement and stuff.
Trump, Patel, Trump Cash, Bondi, Vance,
all the Palantir guys, they're all in on it.
It's not just Israel in that situation.
Keep that in mind.
That all hand-in-the-beating thing is like...
Yeah, it's all...
It's all very creepy.
I think that's the best way to describe it.
It's funny.
There's no way Palette's not spying on Americans.
Such fucking bullshit.
No way.
There's literally no way.
And he said it so confidently.
And their stock rose as a result of those comments.
I find it hard
I guess the right way to
phrase this so we don't get hit
with a libel
or slander attack is I find it
hard to believe that they're not spying
on American
citizens
I find it extremely unlikely
yeah
we have no information
we're just speculating here
yeah
um i was gonna i listened to i got off the train at 12 30 last night and drove back home and
listened to tucker's comments on charlie the release yesterday and it was
bringing this back to bitcoin one way or another um at the end they were talking about bill
ackman and just like sort of how um if you're aggressive and connected you can make a lot of
money and then exert a lot of influence and him and charlie talked about that on tucker show in
the summer i was listening to that part of tucker's monologue last night and he's like we got to figure
out a way to fix this because particularly for the youth like if they don't have if they're not as
if they don't have the trait of being overly aggressive and a bully to an extent and they're
not well connected how are they ever going to accumulate wealth wealth should be accumulated
by people who are creative and have agency
and are out there building things that are good for the world
and bring productive value to the world.
And I couldn't stop, I think, but this is why we're in Bitcoin.
It's like you have to fix the money
and have better incentive systems around the way money works
to actually make that even possible in the first place.
Not to say that on a Bitcoin standard,
There won't be networks of people who are connected that favor their cronies over others.
But I think Bitcoin certainly reduces the chance for government and central bank money printing to give to people that are connected.
I mean, to bring it back to Bitcoin, we announced this week that all fees associated with direct deposits and auto conversions into Bitcoin on strike are now waived.
So you can use the Pay Me in Bitcoin feature with no fees.
That goes on top of being able to set up reoccurring buys, you know, automatic stacking with no fees and free withdrawals if you're willing to wait.
So you can, Strike is really set up in a way where you can use it with never paying fees.
And then I think it's pretty cool because instead of like Robinhood's no fee model where they monetize by selling all your trading data to Citadel so they can trade against you,
Strike does it in ethical and moral ways by charging fees on smash buys and smash sells and the loan product.
while offering a full suite of free products that make using bitcoin in your everyday life
much more useful it's a beautiful thing it's a beautiful thing
zoomer seth i don't know if you're in the chat and i don't know if i'm gonna get myself in trouble
but i think you guys will be comfortable with it but i think uh stoti paccioli they've uh they're
developing like a protocol and sort of like a protocol and how would i describe it a sort of
system and guidance for running a small to medium-sized business on a bitcoin standard and i
think um one of the things that they gonna sort of help people navigate is if you a business and you want to do this if you sending out fiat invoices getting paid in fiat but if you want to run on a Bitcoin standard using Strike to auto convert to Bitcoin I think they got protocols and sort of guidelines that they going to be sharing with business owners who are curious about how to do that
Love it. I see Bitcoin Ranger is asking what's a better way to share instead of a Google Doc.
I mean you can just
you can create a PDF
and put it on satellite.earth
and just link the PDF
I think that's strictly better
I
that's awesome
I love Satoshi Pachuli
they're fucking great
and I see someone joining late asking
what happened to my hair
don't worry guys
it'll grow back
it's time for a change
it always comes back
alright last
is it last on the list?
what do we got?
no two more on the list
you had a conversation
on Citadel Dispatch yesterday or Monday?
yesterday
I had two of
the Fediment open source project contributors
so you have Fedi
which is a business and then you have fediment which is the open source project
the protocol that fedi uses and they've made significant improvements to fediment
i know we haven't talked about it in a while it had a lot of it had some
shortcomings and some issues early on just because of the complexities of running federated
chami and e-cash right so you can think of it like almost like a multi-sig cashew there's some
more differences there and a little bit more nuances there but we dived deep on it on Cilo
Dispatch so consider giving that a listen it was a really fun conversation I really enjoyed it the
live chat was popping but on top of that they also announced a fully false
affedment wallet for Android called the eCash app very creative name
and it's it's full featured power user friendly and on top of that one of the things we talked
about a lot was they made it much easier to run the guardian servers so you can literally
more or less one two clicks set up a guardian a mint guardian on start nine from home
without relying on cloud servers or domains or anything like that.
And then if you're running it on Star9 specifically,
you also have one-click backup, so it's harder to fuck it up.
So they made it easier to run on the front-end side for the actual end user,
and they made it much easier to run on the back-end side
for the people running the actual multi-sig mints.
And yeah, it was just a great conversation with Justin and Brad.
So consider listening to it and consider subscribing to Seal Dispatch if you're not already.
Consider it for a X.
And word of advice, naming convention advice to the developers of the eCash app.
Just call it TECA.
T-E-C-A.
Just call it TECA.
Why?
I like the eCash app.
ECash app.
Say call it TECA.
It's an acronym for the eCash app.
It is still the eCash app, but you just call it TECA wall.
it well it's like a play on cash app right yeah i see then just call it e-cash app
drop the drop the it's cleaner
suppose it was suppose it was uh justin moon's idea nice justin i miss you where are you
where are you sir
go check it out if you're running android test it give some feedback
probably don't use a material amount of Bitcoin.
You shouldn't anyway.
No, no, it should be, we talked about that too.
Like you should treat it whether it Cashew or Fetiment you should treat it as like a spending wallet Once you hit a certain balance you should bring it into proper self on chain or Lightning
Yeah.
And what I'd really like to see, and Zeus is leading the way here, is actually automating that flow for users.
You've hit this amount, move to self-custody.
Have a pop-up.
Pick a button, move to self-custody.
and then last but not least uh cake wallet launched cupcake which is an offline signer for
uh an android phone or an ios device so phones tablets android or ios uh you can take an old one
you can buy a fresh one you can install graphene on it if you want keep it offline you run the
signer app on there then you run cake wallet on your online connected device and you have
you know uh hardware-esque uh security guarantees obviously not as strong as like a purpose-built
uh hardware wallet um with off the shelf parts it's super easy to set up i think it's pretty cool
So it's analogous.
It's a cool model.
Instead of getting a treasure in a ledger and connecting to a treasure suite or ledger live,
you'd just create a wallet or a signing device.
You'd turn your old phone into a signing device and use a wallet desktop app to interact.
You take your old phone, you install Cupcake on that, and you put it in airplane mode.
And their keys stay on that device.
and then you have cake wallet on your your current phone that's connected to the internet
that sets up the transaction and then you just do like the qr code shuffle to sign a transaction
i haven't actually tested it out myself yet it just launched this week um but in general i think
the concept is is clever could be a very useful tool for people yeah i like to say i'm like um
the lead at the marketing remember when getting serious about crypto meant waiting weeks for a
hardware wallet to ship handing over your personal information and dropping a hundred
dollars on a device yeah we remember too and honestly we got tired of it
classic i mean on the bitcoin side we have lots of options they do support monero as well and on
the monero side i don't know of any purpose-built hardware wallets for it so there's probably a
little bit more demand on that side but there's also way more bitcoin users than our users
yeah um before we wrap up it would be remiss of me
not to read uh the only 21 000 sat boost or boost at 21 000 sats are over from rabbit hole recap
374 live free orange horizon 21 000 sacks sats tick tock sunblock zapsnag
shout out to you
thank you sir
thank you for that
yeah
short
short week we got the FOMC meeting
we should get
probably should see some headlines
rolling in in seven minutes
about the decision so
I see
Bitcoin Rangers asking about my
satellite.earth recommendation
yeah it's a website
it's a Nostar enabled website where you sign
in with a Nostar extension and then you can upload
videos or files or
photos and then they just give you a link
and you pay with SAPS
wow
it's how I host RHR videos
it's how I host the dispatch videos
it's a great service
it's run by Hazard
149 I think is the numbers
after his nim
great dude I don know if this is confirmed yet but zero had just saying that uh or his quote tweeting somebody saying all discord was hacked all chat logs dumped
2.1 billion threads say his name then people are saying false so fake news there are people
maybe not fake news but unclear yeah i had to think of that um
i mean i think it's a safe time to remind people that uh if we do see dumps there's
no way for us to verify that the contents are legit which is why um
i think nostor has made a big step in the right direction of having signed
posts so that you can independently verify them after the fact um without trusted third parties
it's a beautiful thing
you think people in South Dakota and
Wyoming are going to turn to
Nostra
I think
I mean I think I said it last week
that it could get
very
it should be interesting
in this current environment how things
with Nostra play out.
Yeah.
It can get
pretty...
It can get dicey pretty quickly.
We've got 64 people
on Zap, or excuse me,
on Primal livestream.
We've got 3.2
thousand on X, I believe
150
on YouTube.
let me pump the uh the nostril live stream stats 64 come on all right we need it to surpass the
youtube chat i don't know how i can be honest um it we wanted to get those live streaming out
asap um and i don't think that was necessarily a priority was the actual live viewer count i don't
know if it it's probably not counting everywhere like if you're watching on zap stream or whatnot
And then also, I think it's important to realize that a lot of these viewer accounts on the centralized platforms are just kind of complete bullshit.
So maybe the play is to just make every Nostra stream look like it has like 20,000 people in it.
That would be sweet.
Just fake the viewer number.
i joked around once that uh on primal it should just be like your follower count just increases
by two percent hard-coded every day i think people would love that oh look at this
look at this you've seen this queen jumped over from the youtube chat let's go girl
i have to see a ride or die usually in the youtube chat
welcome to the nostril
jeffy says x live viewer count for video stream primarily tracks the number of video plays where
the video is viewed for at least two seconds including autoplay so it's a super inflated
number there's 3200 people on x watching live right now we appreciate you we appreciate you
Marco is confirming the number is definitely not accurate,
but we're working on it.
X is undercounting.
We probably have 30,000 people there.
They're just trying to stop the signal.
Okay,
Marnie,
I got to get out of here,
but great rip.
Great rip.
Stay,
lean into the good out there,
freaks.
Obviously hold the evil accountable,
but focus on doing good.
Focus on making your life better.
the best that it can be, your family's life.
Build good things.
Focus on the good.
Love your freaks.
Peace and love.