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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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sets stackwork.ai matt and i've been talking about privacy and the importance of using a vpn for

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seven years now literally seven years i believe at least once every episode or two it's like hey

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Make sure you're running a VPN.

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I think it's especially important today

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where you have governments in the UK,

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other parts of Europe, all across the world,

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really trying to introduce digital ID

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and curbing speech with hate speech laws.

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Make sure you're protecting your privacy

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and shielding yourself from government surveillance

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as you're perusing the web.

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Our VPN of choice here at RHR is Obscura.

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It's built by a Bitcoiner for Bitcoiners.

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Carl Dung did some very critical work for Bitcoin

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back in the day, but he decided to shift his focus

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to bring privacy to everybody with Obscura.

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It is a VPN that cannot log.

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Literally, by the way, it's designed.

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A lot of VPNs will hand ways, say, we're not logging, we're not logging.

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You can't trust them.

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You want the VPN that cannot log.

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That is Obscura.

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Go to Obscura.net.

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

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Make sure you're using it, particularly if you're in one of these countries

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where the governments are becoming extremely censorious

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and targeting citizens that exhibit wrong things.

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You should be running a VPN.

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That VPN should be Obscura.

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

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at rhr salt of the earth you've been hearing matt and i talk about it quite a bit i drink multiple

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packets up in a day you got to stay hydrated that's why my face looks so good so i'm getting

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buff i'm able to get to the gym more because i'm hydrated matt he's looking incredible i'm sure

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

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

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she's right behind me right now laughing, but she's laughing because she knows it's true. She

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drinks like seven a day. I drink a few a day, maybe seven a day too. Matt, I don't even want

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to tell you how much he's drinking. It's good. It keeps you hydrated. It keeps you alert,

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keeps you ready to go. drinkssote.com. That's D-R-I-N-K-S-O-T-E.com. Use the code RHR

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for 15% off any order.

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

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When you talk about a Fed just gone nuts,

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all the central banks going nuts.

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So it's all acting like safe haven.

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I believe that in a world where central bankers

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are tripping over themselves to devalue their currency,

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Bitcoin wins.

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In the world of fiat currencies,

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Bitcoin is the victor.

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

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If you're not paying attention,

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you probably should be.

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Woo, doggie.

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What a time to be alive.

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Yo.

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Yo.

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Did I break?

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We broken?

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I don't see it on Promo.

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Do you see it on Promo?

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See it on X.

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retweeted

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our future is bright

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it is bright

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you like that positivity

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I know

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was it inspired by my lecture

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at the local high school

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no it inspired us dumping

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because I dunked on Luke Groman last week

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yeah I told you

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I warned you

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I said it may have been too early

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to take some victory laps

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and I giggled earlier

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because I opened up the day chart.

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We are down 6.8% since last week's episode.

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On what?

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On gold?

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On Bitcoin.

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On Bitcoin.

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In cock buck terms.

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Let's see.

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We're not streaming on Primal right now, right?

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Nostra is not live.

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Nostra is not live.

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We're live.

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on YouTube.

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I don't know, we're getting no comments.

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Maybe nobody's in YouTube right now.

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Global contribute.

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Yeah, we're live on YouTube too.

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We've got 12 watching.

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Make sure you like, subscribe, hop in the chat.

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There they go.

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Stop broadcasting, start broadcasting.

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Starting the week out with some technical difficulties.

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Well, maybe it's not working.

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We've been on such a streak with the...

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Oh, there it is.

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The nostril.

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Did that work?

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I turned it off and on again.

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It's working.

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Nice.

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Started two minutes ago.

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What is up, freaks?

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Thank you for bearing with our technical difficulties.

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We're here now.

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Logan is saying hi in the live chat.

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Where should we start? Where should we start?

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I was being a little bit of a dick.

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The title is mostly because of your inspirational lesson to the youth.

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That was the main premise of it.

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Let's start with that.

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This is your rival high school, I hear.

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This is my rival high school.

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This is my third lecture I've given them, the previous two.

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We're remote.

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Obviously, I was living in Austin, but now having moved back to the area,

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I can be there in person.

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So, yeah, this is their investment club.

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And the teacher who runs this was my boss at the hot dog stand.

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So this is not an actual class?

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This is a separate extracurricular thing?

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Yeah, it's not even extracurricular.

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The way I learned a lot about how it works, I had a tour of the school yesterday.

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Funnily enough, Rival High School, never been inside the confines of their building.

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But as you imagine, all guys, private Catholic school.

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So they're able to get creative with the curriculum.

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Apparently, every Wednesday in the 1050 to 1150 block, they have sort of free range to hop into a bunch of different clubs.

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Science, engineering, debate, and they have an investment club as well, which is who I spoke to yesterday.

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this is the third time. Bitcoin 101, a lot of people are asking, what did you talk about?

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I focus on Bitcoin. Monetary aspects is actually heavily

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focused on the history of fiat. What else would you be talking about?

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The technical details of the

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protocol and stuff like that. I assumed it was a

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101. It literally says Bitcoin 101 in the

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picture. You can see the slide.

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But I also, I did, I've talked a couple of classes with you at Baruch.

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So I assume it was kind of similar to that.

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Yes.

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Yes.

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I have a wellness question for you.

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Is that a dungeon classroom with fluorescent lighting and no windows?

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Yes.

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Yes, it was.

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So can you do a wellness check on those children and try and get them some windows and some fresh air?

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You should bring a CO2 monitor next time you go.

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I don't know what that challenge was.

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no that was my comment on the way out you need to get incandescent uh bulbs in here

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it's no windows windows there are i mean this was uh

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i think there might have been windows in the back but not very not very large ones there

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there was a lot of open uh open windows in the hallways and uh i think there were some other

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windows and other classrooms that i wasn't in yeah i mean i assume they have some windows in

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I would hope.

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Yeah.

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It was inspiring, though.

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Kids were very engaged, asking good questions.

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There was a few teachers who showed up to a priest as well.

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A priest came up and said, I'm very good.

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These kids don't know about money.

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That was sort of the crux of the message I was trying to get through.

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I was like, hey, this is going to be a Bitcoin 101 lesson,

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but really the underlying lesson is we've broken the money.

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People don't understand what money is.

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And they're engaged.

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I see a lot of comments on X and Nostra about people making fun of the kids

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for having similar haircuts and outfits.

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And give the kids some slack.

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Okay.

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They have haircuts.

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We all had our haircuts.

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You're on mute.

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Yeah, I mean, there's a decent amount of variety.

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of haircuts in there too yeah if you're young when you're a young boy there's only so much variety

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i don't feel like they all have the same haircut it's an interesting critique people are just

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having fun but uh it's cool to see it's cool to see um incredibly optimistic on the younger

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generations i mean i told you this but one of the kids asked uh he's like i got a job i get direct

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deposit is there any way i could direct deposit my paycheck to bitcoin i said yeah just download

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strike took his phone out right there yeah do we have uh they don't have rough codes right

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i don't think strike does but try the code rhr yeah just message support and just type rhr

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yeah um all right moving on to the dashboard as i mentioned we are down over seven thousand dollars

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from where we were last week and matt was taking victory laps on all the bears out there

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This week, the bears are taking victory laps because we are currently at $89,600.

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The future is right.

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One Cuxbox is going to get $1,166.

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That's for a $1.79 trillion market cap.

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We are at block height 933,401, which means we are seven blocks away from a difficulty retarget.

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We could have that as we are live on air.

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We will keep you abreast of the situation as it unfolds.

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It's looking like a negative 3.1%.

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Difficulty adjustment as of right now.

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Block's been coming in at 10 minutes and 21 seconds.

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On average, since the last retarget, there are 7,017 transactions in Clark's mempool.

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If we go over to mempool.space, we'll see that there are 41,898 transactions in their mempool.

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Last block was seven minutes ago.

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The block before that was 54 minutes ago.

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So we have 47 minutes between block 933,401 and 933,400.

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That's the state of the network right now.

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Difficulty adjustment going lower.

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This will be the fifth downward adjustment of the last six difficulty adjustments.

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And the only upwards adjustment that we've had in the last six was relatively flat.

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It was up like 0.1%.

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So hash rate has been falling off the network.

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We talked about a few weeks ago, there were rumors of another Chinese mining man with some of the leftover hash rate that stayed within their borders after 2021.

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And then obviously a contributing factor, maybe not so much up to this point, but certainly moving forward as we go throughout the week will be this winter storm in the United States.

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It's weather affecting hash rate because a lot of miners are engaged in demand response programs.

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So it's cold weather and the winter storms roll in.

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Demand for electricity on the grid is going to increase dramatically.

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And miners are going to be asked to respond by turning off their machines.

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That demand can be met with supply.

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And even if you're not in a demand response program officially where you have to respond by curtailing your load,

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a lot of these miners will also look at the price of electricity,

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which will probably go up during this winter storm.

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They'll just turn off independently because it's not profitable to mine

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with electricity prices where they will be.

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This is State of the Network, commentary on mining.

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Are you ready for this apocalyptic winter storm?

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uh it's better to be prepared uh and hope for the best than uh than not be so

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if you're not prepared already i don't know what to tell you you

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rush out turn off the stream and go rush out and prepare now well that's what uh

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my wife in preparation she's got she got the meals planned for the weekend and beginning of

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Next week, she went to order pickup at Whole Foods and just smash bought the grocery list

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and didn't realize that pickup orders wouldn't be ready until Saturday.

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So she had to cancel the order and go in person to get stuff.

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Old school.

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She had to go the old-fashioned way.

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Yeah, I mean, I had a neighbor buddy send me a picture of the bed of his truck filled with bottled water and a generator.

243
00:14:40,580 --> 00:14:42,880
I was like, dude, you really waited until the last minute.

244
00:14:43,900 --> 00:14:50,200
Shout out you. Nice haul, but you should have done that a bit ago.

245
00:14:51,380 --> 00:14:52,400
But yeah, look, it's good.

246
00:14:54,600 --> 00:14:55,900
I think people should always...

247
00:14:59,620 --> 00:15:03,060
If you are raising a family specifically,

248
00:15:04,120 --> 00:15:08,720
you should think about what are the essentials and always be prepared for it, regardless of what happens.

249
00:15:08,720 --> 00:15:12,720
And I think in the case of winter storms specifically,

250
00:15:12,720 --> 00:15:19,780
uh we do have the it is nice that you have the benefit of basically like a week-long warning

251
00:15:19,780 --> 00:15:28,400
ahead of time yeah um but i will say moving from new york to tennessee tornadoes man no one warned

252
00:15:28,400 --> 00:15:34,880
me about tornadoes and you get zero fucking warning about them uh which is scary as hell

253
00:15:34,880 --> 00:15:44,980
um but uh yeah food heat i really like uh i mean it's not if you don't have one i don't know how to

254
00:15:44,980 --> 00:15:52,200
it's an expensive installation but a fireplace or a wood stove is fucking clutch like that is

255
00:15:52,200 --> 00:16:01,460
a huge hack you can just go chop down a fucking tree and heat your home um clean water clean water

256
00:16:01,460 --> 00:16:10,260
is key and some kind of power particularly if you're like me and you have freezers full of meat

257
00:16:10,260 --> 00:16:17,880
don't forget about the freezers guys winter storms you're good you can just move it outside

258
00:16:17,880 --> 00:16:24,480
built-in freezer but you should have some kind of backup power for your freezers for non-winter

259
00:16:24,480 --> 00:16:33,040
storms current thing and we're seeing that comment on youtube uh and to the point to this is a great

260
00:16:33,040 --> 00:16:39,900
argument against electric stoves being mandated across the country um i think natural gas power

261
00:16:39,900 --> 00:16:45,440
stoves uh are able to save you if the power goes out you can actually cook with that pull up the

262
00:16:45,440 --> 00:16:53,400
natural gas prices and uh to comment on roach 618's comment on current thing that's the thing

263
00:16:53,400 --> 00:16:57,740
obviously these models have been coming out over the last few days and they've been changing

264
00:16:57,740 --> 00:17:01,520
dramatically and i think we can see that in the net gas prices you see they spiked all the way

265
00:17:01,520 --> 00:17:08,460
above 450 earlier this week when it was looking worse than it looks today but if you don't want

266
00:17:08,460 --> 00:17:14,320
to run a you don't want to run a gas line or you're like renting and you can't run a gas line

267
00:17:14,320 --> 00:17:20,380
barbecues barbecues are clutch but i mean i don't really like propane barbecues but

268
00:17:20,380 --> 00:17:27,600
charcoal barbecues outside do not bring them in your house you got to be clear disclosure

269
00:17:27,600 --> 00:17:37,700
do not use your barbecue inside and then sue us about it yeah um all right we looked at

270
00:17:37,700 --> 00:17:41,360
gas prices that's a commodity you know what another commodity is precious metals gold

271
00:17:41,360 --> 00:17:46,540
still pumping silver still pumping i checked silver earlier today it was at uh

272
00:17:46,540 --> 00:17:52,580
people get a nasty got triggered that i keep posting this chart can you pull up the chart

273
00:17:52,580 --> 00:18:00,220
logan this is a chart to watch freaks when you're wondering why sentiment is down in bitcoin even

274
00:18:00,220 --> 00:18:07,880
though we're flattish it's because we're not flattish we're dumping we are we are flat as of

275
00:18:07,880 --> 00:18:15,640
uh 2021 i believe it's eight or 18 around 18 do the do the 10-year chart the 10-year charts kind of

276
00:18:15,640 --> 00:18:18,460
kind of hurts.

277
00:18:21,100 --> 00:18:25,020
I don't know.

278
00:18:25,160 --> 00:18:27,800
We barely topped 21.

279
00:18:29,460 --> 00:18:31,380
I feel like this has to be a bottom, though.

280
00:18:34,120 --> 00:18:36,000
I mean, I'm just drawing red lines

281
00:18:36,000 --> 00:18:38,740
on my mouse on the screen right now.

282
00:18:38,740 --> 00:18:41,180
It looks like we're in vertical support resistance.

283
00:18:41,620 --> 00:18:43,280
So I posted this

284
00:18:43,280 --> 00:18:46,680
and posted this on Noster.

285
00:18:47,420 --> 00:18:49,480
And just because like,

286
00:18:49,560 --> 00:18:50,520
this is what I'm watching.

287
00:18:50,620 --> 00:18:51,620
It's the chart I'm watching.

288
00:18:52,340 --> 00:18:54,560
And John Arnold, our quant at 1031,

289
00:18:54,940 --> 00:18:56,860
posted his curved red line

290
00:18:56,860 --> 00:18:59,080
showing the bottom and upper trend.

291
00:18:59,260 --> 00:19:01,440
And so then I just immediately retweeted it

292
00:19:01,440 --> 00:19:04,400
on Noster and that extra triggered people.

293
00:19:04,800 --> 00:19:05,840
Look and pull it up.

294
00:19:05,900 --> 00:19:06,860
I think we're at resistance.

295
00:19:07,160 --> 00:19:09,000
I think we're at balance level here.

296
00:19:09,000 --> 00:19:11,480
To be clear, John was trolling me

297
00:19:11,480 --> 00:19:13,780
and I was trolling him by retweeting it.

298
00:19:14,800 --> 00:19:16,920
1031 is not making investment decisions

299
00:19:16,920 --> 00:19:18,560
based on his curved red line

300
00:19:18,560 --> 00:19:22,940
on the mobile screenshot of the gold chart.

301
00:19:23,420 --> 00:19:24,480
Speak for yourself.

302
00:19:25,960 --> 00:19:27,700
I'm aping into Bitcoin here.

303
00:19:29,940 --> 00:19:30,420
No, it is.

304
00:19:30,480 --> 00:19:33,420
It's funny how this is a recurring theme this year.

305
00:19:34,000 --> 00:19:36,620
In the last six months, particularly gold, silver,

306
00:19:37,420 --> 00:19:39,920
screaming Bitcoin, lacking relatively.

307
00:19:39,920 --> 00:19:45,620
but uh i don't know i'm just like not it's like let the gold and silver bugs have a good year

308
00:19:45,620 --> 00:19:50,980
this is literally what they felt like for the last 15 years let them have one

309
00:19:50,980 --> 00:19:56,060
yeah i mean look i'm i'm happy for them particularly the guys who've been stacking physical

310
00:19:56,060 --> 00:20:01,700
you know like if you're like i don't know if you're owning paper gold or whatever like

311
00:20:01,700 --> 00:20:08,720
congratulations um but uh the guys who've been stacking physical gold and silver and have you

312
00:20:08,720 --> 00:20:15,840
seen like the copper guys now just like bars and bars of copper like you know respect i respect the

313
00:20:15,840 --> 00:20:25,280
hustle um i hope you i hope you're enjoying it but also at the same time like that chart is

314
00:20:25,280 --> 00:20:32,380
is if if bitcoin wins that chart needs to needs to reverse like it's bitcoin versus gold that's

315
00:20:32,380 --> 00:20:37,380
what it is. That's just the reality of the situation.

316
00:20:38,600 --> 00:20:41,000
Yeah. Well, I mean, look at gold.

317
00:20:41,000 --> 00:20:43,600
In a post-Bitcoin world, gold will still exist.

318
00:20:43,600 --> 00:20:57,778
It will still have value I think they complementary to each other Like I not saying it gonna obsolete gold but gold But what is like all the influencers right They all joined the board of Bitcoin stocks

319
00:20:57,778 --> 00:20:59,178
that have no cash flow.

320
00:21:00,818 --> 00:21:03,078
And they all said Bitcoin is the hurdle rate.

321
00:21:03,638 --> 00:21:05,498
Well, gold is the hurdle rate.

322
00:21:06,258 --> 00:21:08,998
That is the reality of the situation here.

323
00:21:09,858 --> 00:21:11,638
And if we're not outperforming gold,

324
00:21:11,738 --> 00:21:12,858
then I don't know what we're doing.

325
00:21:12,858 --> 00:21:14,358
I mean

326
00:21:14,358 --> 00:21:15,638
I'm having a day right now

327
00:21:15,638 --> 00:21:18,918
I mean gold's approaching

328
00:21:18,918 --> 00:21:19,818
5,000

329
00:21:19,818 --> 00:21:23,018
this chart looks

330
00:21:23,018 --> 00:21:25,078
insane I'll do a silver

331
00:21:25,078 --> 00:21:26,998
screenshot

332
00:21:26,998 --> 00:21:28,958
to share with you Logan silver's over

333
00:21:28,958 --> 00:21:30,958
96 right now the silver chart

334
00:21:30,958 --> 00:21:32,238
looks even worse for us

335
00:21:32,238 --> 00:21:35,098
go to that same website that I had the gold

336
00:21:35,098 --> 00:21:36,718
chart and switch it to silver Logan

337
00:21:36,718 --> 00:21:39,118
someone's like

338
00:21:39,118 --> 00:21:41,018
why didn't you post the silver one well gold is

339
00:21:41,018 --> 00:21:44,438
lindy i feel like gold is the one we should measure against but also the silver one was

340
00:21:44,438 --> 00:21:48,558
it looked even worse so yeah

341
00:21:48,558 --> 00:22:04,298
oh massive dumpage there pretty bad straight line down what's happening is there a paper bitcoin

342
00:22:04,298 --> 00:22:14,998
But see, if you look at that, like the 2021 Bitcoin to silver chart, like 2021 versus today, we look better actually.

343
00:22:15,298 --> 00:22:16,458
But the dump looks harder.

344
00:22:18,018 --> 00:22:18,758
But yeah.

345
00:22:20,458 --> 00:22:21,198
I don't know.

346
00:22:21,258 --> 00:22:22,578
Stay humble and stack stats, guys.

347
00:22:23,458 --> 00:22:24,458
One more comment on this.

348
00:22:24,578 --> 00:22:25,238
I can pull up the tweet.

349
00:22:25,818 --> 00:22:26,978
Still as bullish as ever.

350
00:22:27,158 --> 00:22:27,498
I haven't.

351
00:22:27,898 --> 00:22:30,438
The only gold I wear is jewelry.

352
00:22:30,438 --> 00:22:35,818
I thought Grubles, our good friend Grubles, friend of the show,

353
00:22:36,218 --> 00:22:38,778
I mean, we were talking about the quantum,

354
00:22:38,938 --> 00:22:39,598
and a lot of people are like,

355
00:22:39,698 --> 00:22:44,358
oh, people aren't buying Bitcoin because of the quantum risk.

356
00:22:44,838 --> 00:22:46,358
That's why they're going into gold and silver.

357
00:22:46,638 --> 00:22:47,898
But I thought Grubles had a good point,

358
00:22:47,958 --> 00:22:50,858
because scientists who were trying to recreate the Big Bang

359
00:22:50,858 --> 00:22:53,478
accidentally made gold, and he said there is,

360
00:22:53,678 --> 00:22:54,918
quite literally, this is objectively true,

361
00:22:54,998 --> 00:22:58,178
there's more progress instantiating gold molecules out of thin air

362
00:22:58,178 --> 00:22:59,778
than there is for quantum computers.

363
00:22:59,778 --> 00:23:01,518
is being able to attack Bitcoin.

364
00:23:02,098 --> 00:23:03,278
Read what I said a few times.

365
00:23:03,698 --> 00:23:08,558
If we're really worried about the sanctity of the scarce asset that is Bitcoin

366
00:23:08,558 --> 00:23:13,058
and the quantum risk that certainly does exist,

367
00:23:13,138 --> 00:23:14,658
but to the degree that it exists,

368
00:23:14,918 --> 00:23:21,698
compared to the risk of being able to manufacture gold out of thin air,

369
00:23:21,958 --> 00:23:24,338
it's certainly higher for gold than it is for Bitcoin,

370
00:23:25,238 --> 00:23:27,198
for those isolated risks.

371
00:23:29,778 --> 00:23:41,978
we made the bet too so you think i'm gonna win the bet

372
00:23:41,978 --> 00:23:47,678
no are you trying to are you gonna offer me a takeout right now or no

373
00:23:47,678 --> 00:23:52,778
no no i don't like pull you into that bad kicking and screaming a little bit

374
00:23:52,778 --> 00:23:55,918
um

375
00:23:55,918 --> 00:23:58,938
what was the

376
00:23:58,938 --> 00:24:01,878
that was gold and silver all-time highs this year

377
00:24:01,878 --> 00:24:03,858
i think i think it's in the cards i think it's

378
00:24:03,858 --> 00:24:05,898
doable bitcoin all-time

379
00:24:05,898 --> 00:24:07,678
high gets gold and silver independently

380
00:24:07,678 --> 00:24:09,878
any one day doesn't have to end

381
00:24:09,878 --> 00:24:11,498
the year yeah

382
00:24:11,498 --> 00:24:12,578
and you gave me two to one

383
00:24:12,578 --> 00:24:15,738
yeah look i'm bullish

384
00:24:15,738 --> 00:24:17,398
everyone's bearish i'm bullish

385
00:24:17,398 --> 00:24:19,558
let's fucking go yeah

386
00:24:19,558 --> 00:24:20,738
speaking of bullish

387
00:24:20,738 --> 00:24:28,938
we're not a ta price pumping podcast here we care about the tech the freedom tech and on that note

388
00:24:28,938 --> 00:24:37,358
the human rights foundation had an ai hack for freedom last week at bitcoin park austin uh they

389
00:24:37,358 --> 00:24:46,178
announced the winners uh number one came in uh stringer safety engine sundaram on journalist

390
00:24:46,178 --> 00:24:47,858
Anjan, excuse me.

391
00:24:48,098 --> 00:24:51,598
So I had Anjan on Dispatch.

392
00:24:51,698 --> 00:24:53,778
People should go listen to that episode if they haven't.

393
00:24:53,818 --> 00:24:54,758
It was a fun conversation.

394
00:24:56,958 --> 00:24:58,758
Me and I met him in 2021.

395
00:24:59,738 --> 00:25:00,418
He's awesome.

396
00:25:00,498 --> 00:25:04,138
He's trying to build OpenSats, but for journalism, for independent journalism.

397
00:25:05,758 --> 00:25:12,718
He himself has, you know, decades of experience doing war reporting and other really impressive independent journalism.

398
00:25:12,718 --> 00:25:19,638
them um but yeah i mean i think so so we did this in partnership the bitcoin park did this

399
00:25:19,638 --> 00:25:26,398
in partnership with hrf at park austin um i wasn't able to make it down there for it

400
00:25:26,398 --> 00:25:31,038
but it seems like it was a massive success vibes were high and basically

401
00:25:31,038 --> 00:25:40,898
they teamed up activists with uh developers and they just vibe coded pretty cool projects

402
00:25:40,898 --> 00:25:45,298
and there's i guess it was a 24-hour hackathon people like stayed all night and

403
00:25:45,298 --> 00:25:51,978
i just think it's really cool yeah i caught up with uh mark from maple

404
00:25:51,978 --> 00:25:55,718
ai earlier this week who participated he said it was a very well done event

405
00:25:55,718 --> 00:26:02,358
yeah everyone was like super positive coming out of it i mean i think part of it was they had no

406
00:26:02,358 --> 00:26:09,318
sleep but um so they were probably a little bit delirious but uh yeah it's really fucking cool

407
00:26:09,318 --> 00:26:12,418
I mean, look, once again, theme of the show,

408
00:26:12,558 --> 00:26:13,298
the future's bright.

409
00:26:14,958 --> 00:26:15,698
We're going to win.

410
00:26:16,078 --> 00:26:16,478
We're going to win.

411
00:26:18,278 --> 00:26:21,578
Callie is still hacking away on BitChat.

412
00:26:21,698 --> 00:26:22,238
Have we got any?

413
00:26:22,398 --> 00:26:23,958
I haven't heard anything out of Yonda.

414
00:26:25,518 --> 00:26:28,878
Go to Bobby's X account.

415
00:26:29,698 --> 00:26:32,618
So BitChat Sim is a simulated physical world for BitChat,

416
00:26:32,758 --> 00:26:35,218
testing a decentralized mesh-based messenger.

417
00:26:35,498 --> 00:26:37,378
BitChat is hard, really, really hard,

418
00:26:37,378 --> 00:26:39,498
predicting how design decisions will affect

419
00:26:39,498 --> 00:26:41,458
real world behavior in larger crowds is vital

420
00:26:41,458 --> 00:26:43,258
though. That is why I built a simulator

421
00:26:43,258 --> 00:26:45,358
started simulating people, simulating

422
00:26:45,358 --> 00:26:47,458
people that have devices that run a bare bone

423
00:26:47,458 --> 00:26:49,358
abstract JavaScript version of the

424
00:26:49,358 --> 00:26:51,218
BitChat app. There are simulated devices

425
00:26:51,218 --> 00:26:53,378
Bluetooth that can scan for other

426
00:26:53,378 --> 00:26:55,038
peers of BitChat and establish connections

427
00:26:55,038 --> 00:26:56,478
and send relay packets

428
00:26:56,478 --> 00:26:59,478
making the mistake again and just starting reading

429
00:26:59,478 --> 00:27:00,458
and

430
00:27:00,458 --> 00:27:03,278
realizing it's longer than I

431
00:27:03,278 --> 00:27:04,778
thought. This is already pretty useful.

432
00:27:04,778 --> 00:27:06,058
I just want to move around.

433
00:27:06,058 --> 00:27:10,338
These people change their simulated phones, battery settings, their Bluetooth range, and more.

434
00:27:10,858 --> 00:27:17,238
I can test message propagation, packet routing, and just actual app parameters, but it gets way better.

435
00:27:17,858 --> 00:27:22,238
Walls, buildings, hills, all these affect how much Bluetooth signal travels from one person to another.

436
00:27:23,318 --> 00:27:26,238
In the simulation, the physical environment modulates the Bluetooth strength.

437
00:27:26,238 --> 00:27:31,258
Here you can see how the signal rather travels around the wall passing through it.

438
00:27:31,958 --> 00:27:33,298
People in the real world move.

439
00:27:33,298 --> 00:27:37,938
so I gave them basic pathfinding skills and put them in the city block using data from open street

440
00:27:37,938 --> 00:27:43,298
maps I can now see different environments and test crowds in them with just a few clicks here

441
00:27:43,298 --> 00:27:49,138
you see 140 simulated users around the time square messages propagate through the entire square it's

442
00:27:49,138 --> 00:28:03,278
pretty cool so like the the polar for bit chat yeah I mean love to see it it's really hard to

443
00:28:03,278 --> 00:28:05,398
test it. So it makes

444
00:28:05,398 --> 00:28:07,398
sense that he would release a simulator.

445
00:28:11,058 --> 00:28:13,278
You know how I know Bluetooth travels through walls?

446
00:28:15,698 --> 00:28:16,178
How?

447
00:28:17,178 --> 00:28:19,558
When I get in the car and it connects with my wife's son

448
00:28:19,558 --> 00:28:23,458
and I jump into a conversation with her and her mother unexpectedly.

449
00:28:24,158 --> 00:28:26,198
The UX of that is so bad.

450
00:28:26,978 --> 00:28:28,118
It's so bad.

451
00:28:28,118 --> 00:28:33,318
it's like clearly an example

452
00:28:33,318 --> 00:28:36,258
if you were talking shit on me stop now okay

453
00:28:36,258 --> 00:28:39,978
I got in the car you're talking to me now

454
00:28:39,978 --> 00:28:44,498
it's clearly an example of a feature

455
00:28:44,498 --> 00:28:48,398
that like the people that are designing it don't actually use the product

456
00:28:48,398 --> 00:28:51,378
because it would become immediately obvious to you that

457
00:28:51,378 --> 00:28:53,678
that UX is fucking horrible

458
00:28:53,678 --> 00:28:57,478
yeah

459
00:28:57,478 --> 00:29:04,158
speaking of bad ux instagram banning geyser that's not great user experience getting kicked

460
00:29:04,158 --> 00:29:07,338
off a platform i mean i um

461
00:29:07,338 --> 00:29:20,418
you know there's uh go ahead sorry i'm distracted i'm looking up uh bobby's twitter because we were

462
00:29:20,418 --> 00:29:25,978
talking about uganda um but then you just moved directions and i was also just thinking about the

463
00:29:25,978 --> 00:29:30,258
horrible UX of the Bluetooth and vehicles. Um, I, uh,

464
00:29:30,458 --> 00:29:35,538
a lot of our focus has been when I'm,

465
00:29:35,618 --> 00:29:39,758
when I'm talking about like Noster is like Noster versus X. Right.

466
00:29:40,338 --> 00:29:45,058
And I think that's for two reasons, right? I think first of all,

467
00:29:46,058 --> 00:29:47,418
me and you don't really, I mean,

468
00:29:47,418 --> 00:29:51,258
I haven't used any social media besides Twitter, um,

469
00:29:51,258 --> 00:29:55,938
for the last decade plus. Um, and I think you're kind of similar.

470
00:29:55,978 --> 00:30:01,518
on that front. I mean, we both built our businesses. We met through Twitter. So obviously,

471
00:30:01,518 --> 00:30:07,638
we were like Twitter people. But I think the second piece is also Elon is out of all the tech

472
00:30:07,638 --> 00:30:17,798
CEOs, the big tech CEOs, the single best in terms of free speech and less control over the platform.

473
00:30:17,798 --> 00:30:27,338
so it works as a a decent contrasting example but the the big bad enemy is meta like it's facebook

474
00:30:27,338 --> 00:30:34,858
it's facebook it's instagram it's whatsapp they have billions of users the company is worth one

475
00:30:34,858 --> 00:30:42,298
and a half trillion dollars it's like an insane juggernaut um and there's a whole world that

476
00:30:42,298 --> 00:30:44,778
I just don't even know exists.

477
00:30:44,958 --> 00:30:47,598
Like I never, I'm never, I haven't used Facebook.

478
00:30:47,718 --> 00:30:52,138
Like I said, I haven't used Facebook or Instagram for basically since I met my wife.

479
00:30:55,298 --> 00:31:02,938
So you get removed from Instagram and you just get, you lose such a massive amount of audience.

480
00:31:03,418 --> 00:31:04,698
It's pretty fucked up.

481
00:31:05,298 --> 00:31:06,518
I guess that's my point.

482
00:31:06,638 --> 00:31:07,678
I'm like kind of just rambling.

483
00:31:08,198 --> 00:31:09,098
What were they posting?

484
00:31:09,098 --> 00:31:09,858
I like geyser.

485
00:31:09,858 --> 00:31:18,178
definitely nothing controversial they don't post controversial shit yeah maybe they have some terms

486
00:31:18,178 --> 00:31:30,298
of agreement about crowdfunding on their platform oh wow bobby wine five hours ago i'm not free my

487
00:31:30,298 --> 00:31:34,698
home is still under siege and the criminal regime is trying to hunt me down and yet three out of my

488
00:31:34,698 --> 00:31:40,158
four deputy presidents are also in detention. My deputy president in northern Uganda, Dr. Lina

489
00:31:40,158 --> 00:31:45,778
Zadriga-Waru, is still missing, having been abducted from her home on the 15th of January.

490
00:31:45,778 --> 00:31:54,598
My deputy president of Western Uganda, the Honorable Jolly Jacqueline Tukumashaba,

491
00:31:55,078 --> 00:32:00,498
is still missing, having been abducted from Rukiga district on the 14th of January. My

492
00:32:00,498 --> 00:32:02,138
Deputy President of Central Region,

493
00:32:02,718 --> 00:32:05,678
the Honorable Mwanga Kivumbi,

494
00:32:05,958 --> 00:32:07,018
was today arrested,

495
00:32:07,158 --> 00:32:08,218
and he's being currently held

496
00:32:08,218 --> 00:32:09,598
at Kira Division Police.

497
00:32:09,778 --> 00:32:11,578
As the persecution intensifies,

498
00:32:12,678 --> 00:32:15,938
may we remain rooted in hope and faith

499
00:32:15,938 --> 00:32:17,638
that our struggle, the Ugandan struggle,

500
00:32:17,638 --> 00:32:19,098
will end in victory dam.

501
00:32:20,178 --> 00:32:22,378
Doesn't look like, well, I mean,

502
00:32:22,778 --> 00:32:24,498
went as expected over there, it seems.

503
00:32:27,698 --> 00:32:29,418
Yeah, I mean,

504
00:32:29,418 --> 00:32:32,038
is not surprising.

505
00:32:33,118 --> 00:32:34,138
It's unfortunate.

506
00:32:38,738 --> 00:32:40,158
Hopefully, BitChad has helped

507
00:32:40,158 --> 00:32:42,618
at least somewhat in terms of communication.

508
00:32:46,558 --> 00:32:48,298
That's the Uganda update for this week.

509
00:32:48,378 --> 00:32:49,018
Not looking good.

510
00:32:49,218 --> 00:32:50,818
Haven't heard anything out of Iran either.

511
00:32:53,038 --> 00:32:54,458
Seems like there was a pump fake

512
00:32:54,458 --> 00:32:57,398
on a U.S. attack on Iran last week.

513
00:32:57,398 --> 00:33:05,578
yeah i mean if it's gonna happen it'll happen over this weekend

514
00:33:05,578 --> 00:33:09,578
he like trump likes doing it when the markets are closed

515
00:33:09,578 --> 00:33:18,298
um but i will say i mean it's pretty wild how effective iran has been at the iranian government

516
00:33:18,298 --> 00:33:23,698
has been at cutting communications and preventing the wider world from seeing what's going on over

517
00:33:23,698 --> 00:33:34,338
I mean, it just goes to show how effective a tool internet and communication censorship is for authoritarian governments.

518
00:33:36,818 --> 00:33:43,538
Heard an interesting theory about what happened with the pump fake of the U.S. attack.

519
00:33:43,538 --> 00:33:51,218
iran basically is trump the trump administration trying to strong arm lindsey graham and bb netanah

520
00:33:52,578 --> 00:33:59,218
by signaling that they're going to attack and basically cater to the the um desires of israel

521
00:33:59,218 --> 00:34:06,738
specifically um so they backed out and then iran actually thought it was happening so they

522
00:34:06,738 --> 00:34:10,778
scrambled moving key members of the regime.

523
00:34:12,158 --> 00:34:16,218
And it was basically just like a show of political force.

524
00:34:16,338 --> 00:34:17,398
Like, hey, we're not going to do that.

525
00:34:17,398 --> 00:34:22,278
Then also we're going to get some information on how Iran reacts to this stuff.

526
00:34:23,258 --> 00:34:26,418
I mean, the scrambling part is something we talked about last week.

527
00:34:26,518 --> 00:34:28,878
I mean, I think the poly market bet too is part of that.

528
00:34:30,218 --> 00:34:32,638
That spiked it up to like 90% certainty.

529
00:34:33,378 --> 00:34:36,638
I mean, it's not even really a conspiracy, but my theory is,

530
00:34:36,738 --> 00:34:43,698
my theory is the Israeli government and the U S government would rather

531
00:34:43,698 --> 00:34:48,198
the Iranian regime stay in place, but be weaker.

532
00:34:48,778 --> 00:34:50,938
Like they don't actually want regime change.

533
00:34:51,398 --> 00:34:54,538
It's better to have a, like a weak boogeyman that they know,

534
00:34:54,538 --> 00:34:58,658
um, that they can point to as being, you know,

535
00:34:58,658 --> 00:35:01,578
part of the axis of evil or whatever, uh,

536
00:35:01,578 --> 00:35:06,258
then have actual regime change and have like the people storm the parliament and

537
00:35:06,258 --> 00:35:13,138
They don't have a parliament, but people storm the government facilities and then do a democracy and see what happens.

538
00:35:13,878 --> 00:35:24,458
There's a lot of opportunity for regional issues there if you're a government that just cares about that type of thing and doesn't actually care about human freedom.

539
00:35:26,598 --> 00:35:27,838
So that's my theory.

540
00:35:27,838 --> 00:35:31,838
My theory is the protests have actually been a little bit too effective.

541
00:35:31,838 --> 00:35:35,858
and if Israel and US strike in any kind of real way

542
00:35:35,858 --> 00:35:39,058
then the government falls and then they don't know what comes next.

543
00:35:39,058 --> 00:35:42,638
We need a vacuum of power. Way more uncontrollable.

544
00:35:44,838 --> 00:35:45,678
We've got

545
00:35:45,678 --> 00:35:51,058
35,000 zap from satsorter. Budget your

546
00:35:51,058 --> 00:35:52,958
sats with satsorter.

547
00:35:55,018 --> 00:35:56,958
I did see some

548
00:35:56,958 --> 00:35:59,938
minor commenting that he couldn't zap. He was having trouble.

549
00:35:59,938 --> 00:36:03,578
comment. Hey, I heard a rumor. Not sure if it's true or not.

550
00:36:03,578 --> 00:36:07,078
Did Trump use code RHR to get 10% off Greenland?

551
00:36:07,558 --> 00:36:08,538
I heard it.

552
00:36:09,358 --> 00:36:13,218
He did actually in the website where you buy Greenland.

553
00:36:13,378 --> 00:36:15,038
He put in code RHR. There you go.

554
00:36:17,678 --> 00:36:20,958
That's another thing. It's been a crazy week.

555
00:36:22,198 --> 00:36:23,958
Japanese yields screaming.

556
00:36:24,838 --> 00:36:27,178
U.S. Treasury yields going higher as well.

557
00:36:27,178 --> 00:36:28,558
a lot of people.

558
00:36:28,818 --> 00:36:29,678
What's going on with

559
00:36:29,678 --> 00:36:31,658
what's your

560
00:36:31,658 --> 00:36:34,178
I know you're

561
00:36:34,178 --> 00:36:36,818
like neck deep in macro

562
00:36:36,818 --> 00:36:38,438
Twitter. What is

563
00:36:38,438 --> 00:36:39,898
your take on

564
00:36:39,898 --> 00:36:42,938
what is your

565
00:36:42,938 --> 00:36:44,978
AI slop TLDR

566
00:36:44,978 --> 00:36:46,798
Jesus Christ, AI slop.

567
00:36:46,798 --> 00:36:47,298
JPY.

568
00:36:48,298 --> 00:36:50,178
The impetus for the

569
00:36:50,178 --> 00:36:52,718
Japanese bond

570
00:36:52,718 --> 00:36:53,658
yields going higher

571
00:36:53,658 --> 00:36:55,638
was

572
00:36:55,638 --> 00:37:00,498
their prime minister, she basically said, hey, we're going to get rid of this 8%

573
00:37:00,498 --> 00:37:03,998
food tax, the sales tax on food that exists.

574
00:37:03,998 --> 00:37:08,178
And then I guess the other

575
00:37:08,178 --> 00:37:09,718
side of the aisle in Japan, the competing

576
00:37:09,718 --> 00:37:16,078
political party there said, all right, why just make this temporary? Let's make it

577
00:37:16,078 --> 00:37:20,018
permanent. And they presented a bill to make the elimination of the food tax

578
00:37:20,018 --> 00:37:24,198
permanent. And that basically signaled to the

579
00:37:24,198 --> 00:37:28,198
market like hey they're going to decrease tax revenue when they have all this debt and their

580
00:37:28,198 --> 00:37:31,818
interest rates are going up they're not going to be able to service it and so yields went higher

581
00:37:31,818 --> 00:37:39,758
um and then that affected u.s treasury markets as well japanese yields drifted higher making it

582
00:37:39,758 --> 00:37:46,898
more appealing to put uh money to work there and um that's why people are saying that u.s

583
00:37:46,898 --> 00:37:52,458
rates went higher our yields are higher right yeah there are being the uh the yield difference

584
00:37:52,458 --> 00:37:54,618
there. I mean, I think the crazy

585
00:37:54,618 --> 00:37:56,418
thing, just like as an outside observer

586
00:37:56,418 --> 00:37:57,158
is

587
00:37:57,158 --> 00:38:00,478
it's like everyone's like, oh,

588
00:38:00,538 --> 00:38:02,558
like Japanese yields went like crazy

589
00:38:02,558 --> 00:38:04,378
like blah, blah, blah. And then I looked at the charts

590
00:38:04,378 --> 00:38:06,098
like 275 or something.

591
00:38:07,058 --> 00:38:07,198
Yeah.

592
00:38:07,938 --> 00:38:09,938
It's like I would love to have a mortgage.

593
00:38:10,098 --> 00:38:12,538
I would love to have a mortgage at 275.

594
00:38:14,578 --> 00:38:16,418
It would be great. It would be great.

595
00:38:16,618 --> 00:38:17,478
Somebody going through the process.

596
00:38:18,038 --> 00:38:20,358
I guess my point is, if this is the

597
00:38:20,358 --> 00:38:22,138
panic when it's still below

598
00:38:22,138 --> 00:38:31,598
3% like it could go way higher just the sky's the limit i recorded with a gentleman named robert he

599
00:38:31,598 --> 00:38:36,558
runs a youtube channel he's a bitcoiner called infernomics and he's been covering this and uh

600
00:38:36,558 --> 00:38:41,158
there is some nuance there everybody's looking at the 30 year 40 year 20 year

601
00:38:41,158 --> 00:38:46,098
um japanese government bonds like look at how high they are but if you actually look at

602
00:38:46,098 --> 00:38:51,378
the percentage of overall debt issued at those durations.

603
00:38:51,558 --> 00:38:54,738
It's relatively low, like below 6% or something like that.

604
00:38:54,738 --> 00:38:57,018
They have 40-year Japanese bonds?

605
00:38:57,918 --> 00:38:58,218
Yes.

606
00:38:59,758 --> 00:39:02,658
Wow, that's under 4% still.

607
00:39:03,638 --> 00:39:05,538
Yeah, but they're not issuing.

608
00:39:05,538 --> 00:39:09,058
It looks like it spiked a little bit above 4%.

609
00:39:09,058 --> 00:39:09,898
Yeah.

610
00:39:12,178 --> 00:39:13,538
That's crazy, dude.

611
00:39:13,538 --> 00:39:18,758
Can you imagine, do you want to lend me money for 40 years at 4%?

612
00:39:19,258 --> 00:39:20,278
I would take it.

613
00:39:21,458 --> 00:39:22,278
No, I'm good.

614
00:39:23,438 --> 00:39:25,938
I'm more likely to pay you back than Japan is.

615
00:39:26,478 --> 00:39:28,358
You are, but I'd rather put it in gold.

616
00:39:28,918 --> 00:39:30,078
It's not going to zero.

617
00:39:30,218 --> 00:39:33,758
It should have a significantly higher compound annual growth rate, if you will.

618
00:39:33,758 --> 00:39:35,538
Don't forget, freaks, gold is the hurdle rate.

619
00:39:39,078 --> 00:39:39,718
It is.

620
00:39:39,718 --> 00:39:41,958
What did you think of all the clips coming out of Davos?

621
00:39:43,538 --> 00:39:45,358
I was watching the Elon,

622
00:39:45,358 --> 00:39:46,158
uh,

623
00:39:47,118 --> 00:39:47,778
Larry Fink,

624
00:39:47,898 --> 00:39:48,778
Larry Fink,

625
00:39:48,818 --> 00:39:49,398
uh,

626
00:39:49,618 --> 00:39:49,958
interview.

627
00:39:50,158 --> 00:39:51,658
Did you see a slip up there?

628
00:39:52,918 --> 00:39:53,318
What?

629
00:39:55,418 --> 00:39:55,898
Uh,

630
00:39:58,078 --> 00:39:58,438
uh,

631
00:39:58,438 --> 00:39:58,798
Hey,

632
00:39:58,918 --> 00:40:00,558
if you believe in like Luciferian,

633
00:40:00,638 --> 00:40:01,438
uh,

634
00:40:03,318 --> 00:40:04,458
sort of Satanism,

635
00:40:04,698 --> 00:40:05,378
intergalactic,

636
00:40:05,378 --> 00:40:05,978
uh,

637
00:40:05,978 --> 00:40:06,518
cults,

638
00:40:06,518 --> 00:40:07,398
they have to be,

639
00:40:07,578 --> 00:40:08,778
they have to be up,

640
00:40:08,898 --> 00:40:09,858
up front with you.

641
00:40:09,898 --> 00:40:10,978
They have to tell you the truth,

642
00:40:11,038 --> 00:40:11,918
what they're actually doing,

643
00:40:11,918 --> 00:40:12,438
uh,

644
00:40:12,438 --> 00:40:12,998
in person,

645
00:40:12,998 --> 00:40:13,518
uh,

646
00:40:13,538 --> 00:40:15,958
Elon was asked about aliens.

647
00:40:16,558 --> 00:40:17,958
People ask, and he said,

648
00:40:18,038 --> 00:40:21,358
he said, I am one. They don't believe me.

649
00:40:21,538 --> 00:40:23,458
Is Elon an alien? I don't know.

650
00:40:25,658 --> 00:40:26,138
Doubt.

651
00:40:26,138 --> 00:40:27,658
Wouldn't surprise me.

652
00:40:29,118 --> 00:40:30,758
Doubt, but wouldn't surprise me.

653
00:40:35,438 --> 00:40:36,178
Yeah, I mean,

654
00:40:36,198 --> 00:40:37,438
he also had the Mel Brooks

655
00:40:37,438 --> 00:40:40,078
reference in the beginning that I thought

656
00:40:40,078 --> 00:40:40,998
was actually kind of funny.

657
00:40:41,898 --> 00:40:42,998
Which one? Did you see that one?

658
00:40:42,998 --> 00:40:50,558
I was told that there was going to be a peace summit.

659
00:40:51,338 --> 00:40:54,358
And I had to ask, what type of peace?

660
00:40:54,398 --> 00:40:56,578
Is it going to be a peace of Greenland, a peace of Venezuela?

661
00:40:59,158 --> 00:41:00,418
I believe in peace.

662
00:41:02,518 --> 00:41:05,638
I mean, the posturing from the administration,

663
00:41:06,218 --> 00:41:10,798
administration, Lutnik, Bessent, and Trump specifically,

664
00:41:10,798 --> 00:41:14,178
they basically went there and said hey we're changing things up we're not doing the globalist

665
00:41:14,178 --> 00:41:20,058
new world order we're packing it in we're gonna grow baby grow come with us or get left behind

666
00:41:20,058 --> 00:41:27,578
um and it is funny like having watched the reactions to all the speeches there this is um

667
00:41:27,578 --> 00:41:32,858
that phenomenon where people are watching the same screen but seeing two different movies

668
00:41:32,858 --> 00:41:47,756
polar opposite reactions depending on the political lens for which you view the world well fuck Davos and everything it stands for Right What did you think of Brian Armstrong standing up to the French central bank head

669
00:41:48,616 --> 00:41:49,856
I did not see that.

670
00:41:49,856 --> 00:41:53,156
I have not been like, I haven't been Davos watching.

671
00:41:54,156 --> 00:41:55,756
What did Brian Armstrong do?

672
00:41:56,096 --> 00:41:57,616
Did he virtue signal about Bitcoin?

673
00:41:58,256 --> 00:41:58,676
He did.

674
00:41:58,856 --> 00:42:02,316
He said Bitcoin more in five minutes than he has in the last seven years,

675
00:42:02,376 --> 00:42:02,896
I'm pretty sure.

676
00:42:02,896 --> 00:42:08,896
but yeah the head of the front tends to do that when he goes to davos yeah the head of the french

677
00:42:08,896 --> 00:42:13,836
central bank was saying like we need central bankers we need central banks to issue currency

678
00:42:13,836 --> 00:42:19,916
uh democracy depends on it it's the will of the people uh we need independent central banks

679
00:42:19,916 --> 00:42:24,376
specifically bitcoin is not that and brian was just like yes it is it's actually more independent

680
00:42:24,376 --> 00:42:31,756
than central banks and they need to compete but i can only imagine the uh the back dealing that's

681
00:42:31,756 --> 00:42:36,476
going there right now with the market structure bill with him him in town i mean that's like he

682
00:42:36,476 --> 00:42:40,816
virtue signals about bitcoin and then he just wants to like dump shit coins on retail like that

683
00:42:40,816 --> 00:42:46,796
is that is his goal um but that's what do not be shocked if next week there's some

684
00:42:46,796 --> 00:42:52,556
breaking news about a breakthrough on the market structure bill these people definitely were

685
00:42:52,556 --> 00:42:56,736
meeting behind the scenes while they were there i mean on the coinbase piece like it's pretty

686
00:42:56,736 --> 00:43:03,216
I mean, it's wild how much influence they have on

687
00:43:03,216 --> 00:43:09,196
particularly like the publicly traded Bitcoin treasury companies

688
00:43:09,196 --> 00:43:11,796
and the ETFs.

689
00:43:11,876 --> 00:43:12,556
Like there's such like,

690
00:43:12,676 --> 00:43:14,836
they've become like absolute critical infrastructure.

691
00:43:16,996 --> 00:43:20,876
Like I do wonder at what point,

692
00:43:21,696 --> 00:43:23,416
it's so funny because like the,

693
00:43:23,856 --> 00:43:25,936
I probably was one of the first people

694
00:43:25,936 --> 00:43:32,816
like early days of sailor to ask him about self-custody um because everyone shied away

695
00:43:32,816 --> 00:43:37,576
from that question and it always devolves around like oh like sailor's not gonna like bury steel

696
00:43:37,576 --> 00:43:43,196
plates in like his backyard like he's not gonna like use a cold card blah blah it's like that's

697
00:43:43,196 --> 00:43:48,956
not the point the point isn't like oh microstrategy should like use a cold card and like roll their

698
00:43:48,956 --> 00:43:53,716
own multi-sig it's at what point like how much value how many billions of dollars of bitcoin

699
00:43:53,716 --> 00:44:06,136
Does it become worth it for them to spend like $50 million rolling their own custody company and doing their own custody and doing a bunch of other people's custody instead of trusting Brian Armstrong with it?

700
00:44:06,676 --> 00:44:09,796
And I feel like it makes too much sense.

701
00:44:09,996 --> 00:44:19,696
Like if you were him, I like I just don't if I was him, like I don't understand the calculation there where he doesn't think it's worth it.

702
00:44:19,696 --> 00:44:31,136
He's going to do anything in the Bitcoin space. Might as well build a first-class institutional custody arm and then custody his own Bitcoin using it and others.

703
00:44:32,076 --> 00:44:35,916
We've seen Square, Block, roll their own. Obviously, many others.

704
00:44:36,456 --> 00:44:37,076
Coinbase.

705
00:44:37,636 --> 00:44:38,856
Acquiring Paxos.

706
00:44:39,516 --> 00:44:43,796
Imagine if Coinbase outsourced their custody. That would be retarded.

707
00:44:43,796 --> 00:44:43,876
Right.

708
00:44:45,776 --> 00:44:49,216
And you think it could add to the narrative, all right, we're securing our own Bitcoin.

709
00:44:49,816 --> 00:44:59,396
Not only that, we have this institutional custody service that we can offer others that provides revenue for the operating business so we can buy more Bitcoin.

710
00:45:00,076 --> 00:45:00,336
I don't know.

711
00:45:00,656 --> 00:45:01,376
I think it makes sense.

712
00:45:01,616 --> 00:45:01,836
Michael?

713
00:45:01,836 --> 00:45:10,396
I mean, to be clear here, his excuse always, which had a decent amount of argument, I think, was that he'd rather buy Bitcoin.

714
00:45:10,676 --> 00:45:12,316
But now he's stacking dollars, too.

715
00:45:12,316 --> 00:45:16,756
He's got billions of dollars on his balance sheet.

716
00:45:17,596 --> 00:45:21,436
Just carve out a humble $25, $50 million.

717
00:45:22,696 --> 00:45:24,396
You don't even have to build it all in-house.

718
00:45:24,556 --> 00:45:29,176
You can buy something and start from there.

719
00:45:32,176 --> 00:45:32,876
Let's see.

720
00:45:34,656 --> 00:45:40,496
Hey, I know we're a pretty big show within the confines of strategy office.

721
00:45:40,496 --> 00:45:43,636
So you guys take it to heart, okay?

722
00:45:44,556 --> 00:45:51,016
Here's some advice from two gentlemen who care deeply about security of your Bitcoin.

723
00:45:52,396 --> 00:45:59,516
Speaking of that, you can secure your Bitcoin, you can secure your future purchasing power by saving in Bitcoin.

724
00:46:00,516 --> 00:46:07,296
And this is going to be a trend that grows, but companies are going to attract employees by helping them stack sats.

725
00:46:07,296 --> 00:46:09,036
and Steak and Shake

726
00:46:09,036 --> 00:46:11,476
took a step in that direction.

727
00:46:11,576 --> 00:46:12,656
I almost said Steak Shack.

728
00:46:13,156 --> 00:46:14,636
I'm getting the two mixed up.

729
00:46:15,276 --> 00:46:15,916
Steak and Shake

730
00:46:15,916 --> 00:46:18,036
announced this week

731
00:46:18,036 --> 00:46:21,536
that the launch, well, they did this eight months ago.

732
00:46:21,716 --> 00:46:23,496
Steak and Shake launched its Burger to Bitcoin

733
00:46:23,496 --> 00:46:25,156
transformation. That's when they were

734
00:46:25,156 --> 00:46:26,596
buying burgers and Bitcoin.

735
00:46:26,856 --> 00:46:27,896
They announced this week.

736
00:46:28,496 --> 00:46:29,996
You put the wrong tweet in here.

737
00:46:31,096 --> 00:46:32,296
No, there's two tweets.

738
00:46:33,136 --> 00:46:35,356
There's two big announcements from Steak and Shake

739
00:46:35,356 --> 00:46:35,856
this week.

740
00:46:37,296 --> 00:46:41,796
they increased their Bitcoin exposure by $10 million in notional value.

741
00:46:41,796 --> 00:46:45,956
They've created a self-sustaining system, growing same-store sales that grow the SBR.

742
00:46:46,476 --> 00:46:53,556
Proving food quality expands Steak and Shake's reach and leverages Bitcoin into a new, delicious dimension.

743
00:46:53,976 --> 00:46:54,416
Steak and Shake.

744
00:46:54,476 --> 00:46:58,236
Yeah, so I mean, I think there's two pieces here, right?

745
00:46:58,536 --> 00:47:06,416
First of all, I think it's incredibly cool to see a large, nationwide, cash flow-positive, profitable business

746
00:47:06,416 --> 00:47:08,396
using their profits to stack Bitcoin.

747
00:47:09,036 --> 00:47:10,956
They've also previously announced

748
00:47:10,956 --> 00:47:14,356
they're supporting open source development

749
00:47:14,356 --> 00:47:17,656
with 210 sats per Bitcoin order.

750
00:47:17,916 --> 00:47:20,076
That is going to open sats,

751
00:47:20,956 --> 00:47:22,916
which I'm pretty excited about.

752
00:47:23,016 --> 00:47:24,176
I think that's a pretty cool initiative.

753
00:47:24,936 --> 00:47:28,116
And then there's this next announcement that they made,

754
00:47:28,316 --> 00:47:30,936
which is that they're providing a Bitcoin bonus

755
00:47:30,936 --> 00:47:33,696
to all of their employees paid per hour.

756
00:47:33,696 --> 00:47:38,676
So hourly, basically hourly DCA powered by Fold into Bitcoin.

757
00:47:39,616 --> 00:47:58,476
And it's like, I just feel like they've quickly, there's, there are some incredibly hardcore Bitcoiners over at Steak and Shake that have just like quickly showed the world what a cashflow positive, profitable Bitcoin business should look like and could look like.

758
00:47:58,596 --> 00:47:59,836
And they're just doing it.

759
00:47:59,896 --> 00:48:00,856
They're just doing things.

760
00:48:01,436 --> 00:48:02,416
It's a way to do it.

761
00:48:02,416 --> 00:48:14,156
I think I saw Stoney quote tweeting the 21 cents per hour Bitcoin stacking for employees.

762
00:48:14,756 --> 00:48:19,056
And he was positing, who is the turbo Bitcoin autist inside?

763
00:48:19,076 --> 00:48:19,616
Exactly.

764
00:48:20,476 --> 00:48:22,016
It's doing it the right way.

765
00:48:22,356 --> 00:48:23,596
This is the right way to do it.

766
00:48:23,596 --> 00:48:26,996
small steps, build up an SBR,

767
00:48:28,236 --> 00:48:33,496
offer the ability to buy burgers at a discount with Bitcoin,

768
00:48:33,676 --> 00:48:34,916
sort of incorporate it that way,

769
00:48:35,496 --> 00:48:38,896
and then incentivize your employees with a long-term...

770
00:48:38,896 --> 00:48:41,456
Make it every employee becomes a Bitcoin all of a sudden.

771
00:48:42,116 --> 00:48:42,356
Yeah.

772
00:48:43,036 --> 00:48:44,076
It's 21 cents an hour.

773
00:48:44,076 --> 00:48:46,236
I also saw, I think it was Sean Yeager,

774
00:48:46,516 --> 00:48:50,076
somebody ran the numbers on the...

775
00:48:50,076 --> 00:48:57,456
like if you're a high schooler and you work like three years work 3000 hours or something like that

776
00:48:57,456 --> 00:49:03,596
you have the best for well like two years like it could be like 30 grand it's like you work

777
00:49:03,596 --> 00:49:09,296
at steak and shake as a high school job you just vest into that and then you hold it

778
00:49:09,296 --> 00:49:12,616
for 10 years it'd be like 30 grand once you're out of college

779
00:49:12,616 --> 00:49:18,676
yeah i mean it's it's if you work eight hours a day five days a week

780
00:49:18,676 --> 00:49:21,796
it's $8.50

781
00:49:21,796 --> 00:49:23,916
DCA into Bitcoin a week

782
00:49:23,916 --> 00:49:25,736
which is not

783
00:49:25,736 --> 00:49:26,476
nothing

784
00:49:26,476 --> 00:49:29,556
I mean presumably they're not getting paid that much

785
00:49:29,556 --> 00:49:31,596
I imagine they can increase

786
00:49:31,596 --> 00:49:32,316
the amount

787
00:49:32,316 --> 00:49:35,696
it's hard to decrease the amount after the fact

788
00:49:35,696 --> 00:49:36,056
so

789
00:49:36,056 --> 00:49:38,776
they start with the meme number

790
00:49:38,776 --> 00:49:41,876
make sure you use the code RHR

791
00:49:41,876 --> 00:49:43,676
when you go to Steak and Shake you'll get an additional

792
00:49:43,676 --> 00:49:44,396
10% off

793
00:49:44,396 --> 00:49:47,596
when it doesn't work at the payment terminal

794
00:49:47,596 --> 00:49:51,496
make sure you talk to the person, ask them why your code RHR isn't working.

795
00:49:54,556 --> 00:49:55,656
I think it's pretty cool.

796
00:49:56,096 --> 00:49:56,956
Future is bright.

797
00:49:58,296 --> 00:50:02,036
I mean, you mix that in too with the tallow thing, the tallow piece is awesome.

798
00:50:04,916 --> 00:50:06,536
Don't tell Greg Gee that, okay?

799
00:50:06,996 --> 00:50:09,996
Greg Gee is going to get a little perturbed.

800
00:50:10,076 --> 00:50:11,416
They should be using Gee, he'll say.

801
00:50:11,416 --> 00:50:21,536
next up we have the bitcoin park schedule on the list obviously nems is going on right now

802
00:50:21,536 --> 00:50:28,896
as you may be able to tell i am not there uh the impending weather storm the current thing

803
00:50:28,896 --> 00:50:35,316
uh there's too much of a risk to get stuck in nashville for what probably would be the better

804
00:50:35,316 --> 00:50:40,776
part of a week i was supposed to leave saturday morning and uh couldn't find a reasonable flight

805
00:50:40,776 --> 00:50:47,036
back Friday night. Yeah, we have a knack for it seems like the worst week of winter weather in

806
00:50:47,036 --> 00:50:54,376
Nashville every week, every year is, is natural energy and mining summit at Bitcoin Park. But that

807
00:50:54,376 --> 00:50:59,456
also adds to the aura around it because you have to have real proof of work to show up. But

808
00:50:59,456 --> 00:51:03,116
Bitcoinpark.com is off schedule. This is something I've wanted for a while.

809
00:51:03,116 --> 00:51:12,476
um and um jack lesser who's been working uh with us at the park he's fucking awesome

810
00:51:12,476 --> 00:51:20,716
he vibe coat he vibe coded this um but yeah now you have just a single i think it came out great

811
00:51:20,716 --> 00:51:25,356
now you just have a single place where you can see all the events all the activities that are

812
00:51:25,356 --> 00:51:30,656
happening at both bitcoin park national and bitcoin park austin on a nice little interactive

813
00:51:30,656 --> 00:51:37,456
calendar you can just easily add it to your own calendar um and i thought it was pretty cool

814
00:51:37,456 --> 00:51:44,176
i've just wanted it for a while there's a lot like there's an overwhelming amount of shit that goes on

815
00:51:44,176 --> 00:51:47,776
at the two bitcoin park campuses and it's good to have it in one spot

816
00:51:50,976 --> 00:51:56,016
ai leading to incredible productivity i was vibe coding this morning i saw somebody post

817
00:51:56,016 --> 00:51:57,676
something and I

818
00:51:57,676 --> 00:52:00,356
tested it out to see if I could build it locally.

819
00:52:00,476 --> 00:52:01,556
It took me 10 minutes.

820
00:52:04,116 --> 00:52:04,336
Yeah.

821
00:52:06,296 --> 00:52:08,256
And I'm not going to spill the alpha, but

822
00:52:08,256 --> 00:52:09,736
we may have

823
00:52:09,736 --> 00:52:12,536
a new way to package content coming to you

824
00:52:12,536 --> 00:52:12,976
in the future.

825
00:52:18,776 --> 00:52:19,956
What else do we have here?

826
00:52:20,956 --> 00:52:22,476
This is a super short list.

827
00:52:23,336 --> 00:52:24,656
It's like kind of a

828
00:52:24,656 --> 00:52:25,296
slow week.

829
00:52:26,016 --> 00:52:26,916
To be honest.

830
00:52:29,016 --> 00:52:30,236
I put this here.

831
00:52:30,656 --> 00:52:31,476
I didn't think it was good.

832
00:52:31,496 --> 00:52:32,936
I didn't think we were going to get to it so quickly.

833
00:52:33,356 --> 00:52:37,636
But did you see this post that I made on Nostar?

834
00:52:38,256 --> 00:52:39,756
I didn't, but I'm looking at it now.

835
00:52:40,556 --> 00:52:41,876
I mean, it's kind of wild.

836
00:52:41,876 --> 00:52:43,376
Like, I think people don't.

837
00:52:44,236 --> 00:52:48,436
So this is most populous cities in 2075.

838
00:52:48,436 --> 00:52:56,676
like 95% of people would not get number one, right?

839
00:52:58,176 --> 00:53:01,256
They would never guess. They would never guess number one.

840
00:53:02,036 --> 00:53:02,456
Kinshasa.

841
00:53:02,616 --> 00:53:04,796
Maybe, maybe if they live in Africa.

842
00:53:06,516 --> 00:53:10,996
But yeah, number one would be, would be the Congo.

843
00:53:11,216 --> 00:53:14,676
It would be Kinshasa in Congo, 83 million people.

844
00:53:16,696 --> 00:53:18,076
I just think it's wild.

845
00:53:18,076 --> 00:53:22,896
I was drinking with a buddy who shall go unnamed.

846
00:53:24,596 --> 00:53:26,836
And he posited this question to me.

847
00:53:26,916 --> 00:53:32,316
He said, okay, 2075, what are the top 10 most populous cities?

848
00:53:33,636 --> 00:53:39,876
And originally what I was going to do on RHR was I was going to make you start listing the top 10 that you thought.

849
00:53:40,136 --> 00:53:42,516
But you just would have been way off.

850
00:53:42,656 --> 00:53:43,076
I didn't want to.

851
00:53:43,896 --> 00:53:47,236
Well, I'm going to throw a wrench in there.

852
00:53:47,236 --> 00:53:49,176
Yeah, go on.

853
00:53:52,516 --> 00:53:57,216
I'm assuming that these projections are based off of current population numbers.

854
00:53:58,056 --> 00:54:01,456
No, but the most important thing is they're based on current birth numbers.

855
00:54:02,656 --> 00:54:02,916
Okay.

856
00:54:04,756 --> 00:54:05,776
Did you see the side?

857
00:54:05,916 --> 00:54:06,996
Are you going to put Marty Jones?

858
00:54:07,756 --> 00:54:08,376
Marty Jones?

859
00:54:08,376 --> 00:54:10,516
No, I actually kind of agree with that.

860
00:54:10,636 --> 00:54:12,576
I saw American HODL posted about that.

861
00:54:13,296 --> 00:54:13,896
The 8 billion?

862
00:54:14,076 --> 00:54:14,616
Is there 8 billion?

863
00:54:15,616 --> 00:54:16,436
Logan, pull it up.

864
00:54:16,436 --> 00:54:23,316
Yeah, I mean, specifically, there's like a Chinese activist that says like their population is actually half of what they say there is.

865
00:54:24,436 --> 00:54:25,196
Look, that third.

866
00:54:25,976 --> 00:54:27,936
So Chinese dissonant claims.

867
00:54:28,256 --> 00:54:30,096
Look, go to the tweet that's quoted here.

868
00:54:30,176 --> 00:54:31,116
It's not that long.

869
00:54:31,356 --> 00:54:32,396
It's actually three minutes.

870
00:54:32,516 --> 00:54:33,536
We don't have to watch the whole video.

871
00:54:33,676 --> 00:54:34,496
But yeah, she's claiming.

872
00:54:35,096 --> 00:54:35,696
Don't watch it.

873
00:54:35,976 --> 00:54:39,196
She just says it's 500 million people.

874
00:54:39,716 --> 00:54:41,416
Under 500 million people in China.

875
00:54:41,416 --> 00:54:49,976
and uh this guy bone saw md he uh he quote tweeted i just pulled this up uh after an eight billion

876
00:54:49,976 --> 00:54:54,956
search on x there are not up to eight billion people living in this world laughable and

877
00:54:54,956 --> 00:55:05,356
not serious belief truly yeah i can i can i can prescribe to that um but i do uh i do think there's

878
00:55:05,356 --> 00:55:11,236
a shitload of people in india and i think there's a shitload of people in uh western africa and i

879
00:55:11,236 --> 00:55:22,176
think their birth rates are very high. And I think they should be proud of that. But if I was a

880
00:55:22,176 --> 00:55:29,236
betting man, which I happen to be, I'm not going to make a 50 year bet. But I think a lot of the

881
00:55:29,236 --> 00:55:33,736
largest cities in the world will be on Western Africa, which is kind of just a crazy thought.

882
00:55:33,736 --> 00:55:36,876
And I just think a lot of people don't think about it. Like you think of like the super,

883
00:55:36,876 --> 00:55:41,296
you think of like the super metropolises in Asia, right?

884
00:55:41,336 --> 00:55:45,456
You think of like the Tokyos, you think of the Hong Kongs or the Singapores.

885
00:55:46,996 --> 00:55:48,516
You think of like Malaysia.

886
00:55:52,116 --> 00:55:54,716
But West Africa, man,

887
00:55:55,296 --> 00:55:58,996
West Africa is going to have some huge fucking populations.

888
00:55:59,716 --> 00:56:03,156
I mean, Nigeria is the New Jersey of the world, right?

889
00:56:03,556 --> 00:56:06,776
Nigeria is the New Jersey of the world, the most densely populated country.

890
00:56:06,876 --> 00:56:07,456
What does that mean?

891
00:56:07,596 --> 00:56:08,156
Yeah, fair.

892
00:56:08,276 --> 00:56:08,976
New Jersey is the best.

893
00:56:08,976 --> 00:56:12,516
Yeah, so just for the audio freaks.

894
00:56:13,176 --> 00:56:14,976
So this was Maple AI, okay?

895
00:56:15,156 --> 00:56:19,376
So obviously Maple AI using like known birth rates or whatever.

896
00:56:19,536 --> 00:56:22,756
I just asked to project it, project 2075.

897
00:56:23,356 --> 00:56:26,196
Said one is Kinshasa in Congo, 83 million.

898
00:56:26,616 --> 00:56:28,996
Two is Mumbai, India, 67 million.

899
00:56:28,996 --> 00:56:31,916
So I think a lot of people would get that one on the list.

900
00:56:32,876 --> 00:56:36,636
Lagos, Nigeria is three with 65 million.

901
00:56:36,876 --> 00:56:46,316
uh delhi delhi india 57 million bangladesh duka bangladesh 55 million i'm definitely pronouncing

902
00:56:46,316 --> 00:56:54,116
all these wrong kolkata india 52 million then it goes back to africa tanzania dursos salam 49

903
00:56:54,116 --> 00:57:00,516
million karachi pakistan 47 million jakarta indonesia that's also like i might have gotten

904
00:57:00,516 --> 00:57:12,916
that 45 million, Nairobi, 44 million. Um, but it's just something I, it's, uh, it's interesting

905
00:57:12,916 --> 00:57:17,356
from a Bitcoin perspective, right? Because we always say like low time preference, think about

906
00:57:17,356 --> 00:57:23,896
it all, you know, you should be thinking in generations, not in decades. Um, we just had an,

907
00:57:24,056 --> 00:57:30,056
you know, there was an HRF event that I was at a couple of weeks ago and the whole topic was

908
00:57:30,056 --> 00:57:37,296
Bitcoin in 2140, right? When the mining subsidy stops, where will Bitcoin be?

909
00:57:38,056 --> 00:57:43,916
It's like, well, where's the world going to be in 2140? But like, let's say 2140 is a little bit

910
00:57:43,916 --> 00:57:49,396
ridiculous, right? That's 120 years from now, but 50 years from now, what are the biggest cities

911
00:57:49,396 --> 00:57:54,436
going to be? I feel like it's a more tangible thought process to go down. And I think most

912
00:57:54,436 --> 00:57:57,436
people would probably be misplaced in their expectations there.

913
00:57:59,196 --> 00:57:59,676
I will.

914
00:58:03,276 --> 00:58:07,096
This isn't me. It's some person makes a good point in the YouTube comments.

915
00:58:08,316 --> 00:58:11,016
You're asking an LLM to do math, which they're.

916
00:58:12,616 --> 00:58:16,756
Well, I mean, like you, I mean, do we, should we do a 50 year bet?

917
00:58:16,836 --> 00:58:18,056
Do you want to do a 50 year bet?

918
00:58:19,736 --> 00:58:23,616
Yeah. Just, just to give me motivation to actually survive 50 years.

919
00:58:24,436 --> 00:58:26,296
make sure I keep my heart pumping.

920
00:58:26,296 --> 00:58:28,096
You're going to be old as fuck.

921
00:58:28,196 --> 00:58:28,596
You're going to be,

922
00:58:28,656 --> 00:58:30,436
we're going to be on our deathbed and we'd be like,

923
00:58:30,496 --> 00:58:32,356
pay up a hundred thousand cents.

924
00:58:33,216 --> 00:58:35,556
My family doesn't have the best students along.

925
00:58:35,736 --> 00:58:37,016
So I would like to make it to 80.

926
00:58:37,976 --> 00:58:38,216
I mean,

927
00:58:38,236 --> 00:58:38,836
you should definitely,

928
00:58:39,076 --> 00:58:43,616
you should definitely take it with a grain of salt,

929
00:58:43,676 --> 00:58:47,076
but I think you should probably also operate on the expectations that some of

930
00:58:47,076 --> 00:58:49,216
the largest cities in the world will be in Western Africa.

931
00:58:50,836 --> 00:58:51,196
Okay.

932
00:58:51,776 --> 00:58:52,516
You just gotta,

933
00:58:52,656 --> 00:58:54,396
you gotta take a directional analysis.

934
00:58:54,436 --> 00:58:54,916
throw them in.

935
00:58:55,996 --> 00:58:56,176
I mean,

936
00:58:56,256 --> 00:58:56,576
Nigeria,

937
00:58:56,696 --> 00:58:56,856
again,

938
00:58:56,956 --> 00:58:57,316
Nigeria,

939
00:58:57,536 --> 00:58:57,976
like I said,

940
00:58:58,036 --> 00:58:58,556
it's the New Jersey

941
00:58:58,556 --> 00:58:58,936
of the world,

942
00:58:59,056 --> 00:58:59,876
most densely populated

943
00:58:59,876 --> 00:59:00,156
state.

944
00:59:00,236 --> 00:59:00,716
That makes sense

945
00:59:00,716 --> 00:59:01,236
to me.

946
00:59:02,436 --> 00:59:02,796
Country,

947
00:59:03,056 --> 00:59:03,756
excuse me.

948
00:59:06,976 --> 00:59:07,556
What do I want

949
00:59:07,556 --> 00:59:07,976
to bring up?

950
00:59:10,076 --> 00:59:10,416
Oh,

951
00:59:11,096 --> 00:59:11,496
mention,

952
00:59:11,956 --> 00:59:12,936
if you're on

953
00:59:12,936 --> 00:59:13,356
X,

954
00:59:14,356 --> 00:59:14,876
this is streaming

955
00:59:14,876 --> 00:59:15,656
through the 1031

956
00:59:15,656 --> 00:59:16,176
account.

957
00:59:16,576 --> 00:59:17,276
We've replied to

958
00:59:17,276 --> 00:59:17,796
that tweet with a

959
00:59:17,796 --> 00:59:18,616
giveaway for

960
00:59:18,616 --> 00:59:19,636
a cold card

961
00:59:19,636 --> 00:59:19,936
kill.

962
00:59:21,136 --> 00:59:21,616
I want to go

963
00:59:21,616 --> 00:59:22,176
retweet that.

964
00:59:23,476 --> 00:59:24,016
Get a free kill.

965
00:59:24,436 --> 00:59:26,196
Great machine.

966
00:59:30,336 --> 00:59:32,456
Make sure you use the code RHR if you don't win.

967
00:59:33,076 --> 00:59:33,636
Go pick one up.

968
00:59:37,436 --> 00:59:38,536
It really is the best.

969
00:59:38,616 --> 00:59:39,556
There is no second best.

970
00:59:43,256 --> 00:59:44,396
What else is going on?

971
00:59:47,736 --> 00:59:51,756
What is your opinion on the New York Stock Exchange tokenizing stock?

972
00:59:51,756 --> 00:59:57,896
i felt like the population in nigeria was more relevant to bitcoin than uh

973
00:59:57,896 --> 01:00:03,436
than this story item which is why i wasn't on the list but but someone asked about in the comments so

974
01:00:03,436 --> 01:00:10,196
what's your opinion uh again my opinion on july 16th 2025 logan you can pull it up

975
01:00:10,896 --> 01:00:16,896
put it in the chat here noise of the cycle is going to be stable queen fervor real world

976
01:00:16,896 --> 01:00:21,536
real world asset tokenization and a resurgence of blockchaining all the things.

977
01:00:21,716 --> 01:00:27,516
And so, yeah, I think this hits one of those three noise factors

978
01:00:27,516 --> 01:00:30,396
that I pointed out in the middle of July of last year,

979
01:00:30,616 --> 01:00:32,476
real world asset tokenization.

980
01:00:33,556 --> 01:00:37,236
Yeah, I mean, look, the problem with real world assets,

981
01:00:37,416 --> 01:00:38,736
anything that is, quote unquote,

982
01:00:39,296 --> 01:00:43,116
a token tied to something that has real world value,

983
01:00:43,116 --> 01:00:50,916
it's not a native bearer instrument you need a trusted third party to rely on to actually being

984
01:00:50,916 --> 01:00:55,876
you know maintaining the peg of your token to whatever the real world asset is

985
01:00:55,876 --> 01:01:04,636
and the bitcoin fixes that that's what bitcoin replaces like the key one of the one of the key

986
01:01:04,636 --> 01:01:11,436
innovations of bitcoin is that bitcoin the unit is actually a native bearer token like you do not

987
01:01:11,436 --> 01:01:17,196
you do not require a trusted third party to use it and to hold it and for it to accrue value over

988
01:01:17,196 --> 01:01:25,496
time. Real world assets obviously break that. And predecessors to Bitcoin, like Chom and eCash,

989
01:01:26,236 --> 01:01:32,316
relied on basically this real world asset concept, right? It was like a bank was holding dollars for

990
01:01:32,316 --> 01:01:37,036
you. And then you were able to use Chom and eCash. But at the end of the day, you had to trust banks

991
01:01:37,036 --> 01:01:42,816
to actually hold the dollars for you, which defeated the whole purpose. Now, there is some

992
01:01:42,816 --> 01:01:48,896
use cases where I think real world assets could be helpful, right? And specifically,

993
01:01:49,796 --> 01:01:57,056
let's use an example. We'll use Tether Gold as an example. With Tether Gold, you are trusting

994
01:01:57,056 --> 01:02:00,796
Tether. You are implicitly trusting Tether that they're holding gold in a bank vault somewhere.

995
01:02:01,776 --> 01:02:07,296
But if you accept that trust, then you can send Tether Gold around the world.

996
01:02:07,416 --> 01:02:08,616
You can buy burgers with it.

997
01:02:08,676 --> 01:02:10,316
You can send it to friends and family.

998
01:02:10,556 --> 01:02:13,456
You don't have to trust putting gold in the mail or whatever.

999
01:02:14,336 --> 01:02:20,156
And you get some additional utility on top of the gold in return for that trust.

1000
01:02:20,536 --> 01:02:37,114
Now this NYSE announcement of tokenizing stocks or whatever they don even include that part So not only are you trusting the New York Stock Exchange to maintain the peg that your Apple stock is actually what the token is right

1001
01:02:37,134 --> 01:02:38,654
Like if you have tokenized Apple stock,

1002
01:02:38,794 --> 01:02:40,754
who is actually holding the Apple shares?

1003
01:02:40,754 --> 01:02:43,534
And how do you know that there's actually Apple shares there?

1004
01:02:44,534 --> 01:02:48,274
But like you can't send it to a rival exchange

1005
01:02:48,274 --> 01:02:50,654
and trade on the rival exchange or something, right?

1006
01:02:50,774 --> 01:02:53,174
So like there is, I think there's a small piece there

1007
01:02:53,174 --> 01:02:58,474
that actually could be helpful to people that are already going to be trading equities, right?

1008
01:02:58,474 --> 01:03:08,234
Like if you're already trading stocks, if you did have a token equivalent that you could transfer between computing exchanges and like move around maybe easier,

1009
01:03:08,654 --> 01:03:16,574
then there's a significant improvement over like the status quo, centralized ledgers or whatever that are being used.

1010
01:03:17,334 --> 01:03:19,454
But this is not even including that aspect.

1011
01:03:19,454 --> 01:03:24,614
They're just saying it's tokenized and you're still stuck in their centralized wall gardens.

1012
01:03:25,694 --> 01:03:25,794
Yeah.

1013
01:03:26,274 --> 01:03:38,574
And I agree with you to the extent that there is – I do believe there is potential for these to have massive benefits compared to the status quo.

1014
01:03:38,834 --> 01:03:46,274
But the way that real-world asset tokenization is being pitched, it's like you miss Bitcoin and you can get in on real-world assets.

1015
01:03:46,274 --> 01:03:57,854
It's like, no, like, yes, there are some efficiencies and user experience gains that are made, but it's still nowhere in the ballpark or the realm of future return potential.

1016
01:03:58,114 --> 01:04:07,174
Like the way to make money off is like you're still going to be buying stocks at the end of the day and you're buying stocks to benefit from the cash flows and profitability of those individual companies.

1017
01:04:07,174 --> 01:04:12,594
You're still sort of beholden to the management and execution of those individual companies.

1018
01:04:12,714 --> 01:04:20,034
Yes, being able to buy that stock and send that stock in a way that has a better UX.

1019
01:04:20,214 --> 01:04:20,734
Yeah, it does.

1020
01:04:21,354 --> 01:04:26,834
It's certainly better than the status quo, but it's not like a step function improvement.

1021
01:04:26,954 --> 01:04:34,854
It's going to lead to a crazy increase in your stock portfolio because it exists.

1022
01:04:34,854 --> 01:04:41,714
Bitcoin. Yeah, I mean, I think it's, there's a couple of pieces here, right? Because

1023
01:04:41,714 --> 01:04:48,774
so like right now, like you buy Tesla and you just like, you open up the Schwab app,

1024
01:04:48,774 --> 01:04:55,934
right? And you buy a couple of shares of Tesla, right? Let's say they tokenized it, right? They

1025
01:04:55,934 --> 01:05:01,174
tokenized the Tesla shares. And then, so I'm buying a token in Schwab instead. If I could easily send

1026
01:05:01,174 --> 01:05:06,674
that to Robinhood, I think that is actually an incremental benefit to the shareholder in question.

1027
01:05:06,954 --> 01:05:11,574
Right. Like I can just easily, I don't have to call someone up. I just literally just like paste,

1028
01:05:11,734 --> 01:05:19,274
you know, a, a, some kind of crypto address into, into Schwab and it just sends to my Robinhood

1029
01:05:19,274 --> 01:05:23,814
account and then I can trade their incremental benefit. Okay. I think there's, there's some

1030
01:05:23,814 --> 01:05:30,654
advantage there. That's not what they announced. Like that is not the benefit. Now you could go a

1031
01:05:30,654 --> 01:05:36,414
step further, and I think it would be even more significant benefit if I could then

1032
01:05:36,414 --> 01:05:41,034
quote-unquote self-custody that, which by the way is different than Bitcoin self-custody because

1033
01:05:41,034 --> 01:05:45,774
Bitcoin self-custody you can actually hold without trusting a third party. This year is still

1034
01:05:45,774 --> 01:05:52,994
trusting the third party. You can hold the keys to Tether, but you're not really self-custodying

1035
01:05:52,994 --> 01:05:56,934
it in the way Bitcoin is because at the end of the day, Tether could just freeze your account.

1036
01:05:56,934 --> 01:06:04,674
but still if you could pull self custody and hold it yourself and then trade on like a no kyc p2p

1037
01:06:04,674 --> 01:06:12,014
exchange or tesla shares that all of a sudden becomes you know a a massive benefit to users

1038
01:06:12,014 --> 01:06:17,194
and they're never they're never going to allow that allow you to trade with no kyc not knowing

1039
01:06:17,194 --> 01:06:22,274
your counterparty and just transfer like uh they're trying to do this tokenized equities around

1040
01:06:22,274 --> 01:06:26,014
they're never going to let you do that but that would probably be that would be a significant

1041
01:06:26,014 --> 01:06:30,834
benefit over the status quo. I mean, this was always the view with Liquid, right? I think you

1042
01:06:30,834 --> 01:06:34,774
can, I mean, they're not these. No, so Liquid is a perfect example of this because Liquid

1043
01:06:34,774 --> 01:06:43,014
invented a protocol for KYC tokenized assets. So if you want to like trade the different equities

1044
01:06:43,014 --> 01:06:47,534
that are on Liquid, you have to do full KYC and your counterpart has to do full KYC and they track

1045
01:06:47,534 --> 01:06:55,994
who gets it. So you're like using it kind of P2P, but the chain of custody is tracked pretty hard.

1046
01:06:56,014 --> 01:07:01,074
yeah but you'd be able to like you'd be able to quote unquote custody or tesla stock in an

1047
01:07:01,074 --> 01:07:08,674
aqua wallet or something like that if they were to enable the features yeah yeah yeah which i don't

1048
01:07:08,674 --> 01:07:14,114
think is like the hugest benefit the the more the bigger benefit is being able to move between

1049
01:07:14,114 --> 01:07:22,334
brokerages or being able to do some kind of p2p stuff yeah but again like this stuff like like we

1050
01:07:22,334 --> 01:07:28,494
said my sc is not even doing it the right way so it's a nothing burger and even if the my sc the

1051
01:07:28,494 --> 01:07:33,554
texas stock exchange is getting launched nasdaq whatever it may be decided to do it the right way

1052
01:07:33,554 --> 01:07:37,954
again we've been through this before if you go and you look at what they're essentially replacing is

1053
01:07:37,954 --> 01:07:43,974
the dtcc at the end of the day with this infrastructure and if you look at the revenue

1054
01:07:43,974 --> 01:07:51,434
of the dtcc i think the last snoo they had out there was in 2023 it was something like three

1055
01:07:51,434 --> 01:07:56,954
billion dollars so like the total addressable market for extracting value by innovating in the

1056
01:07:56,954 --> 01:08:04,014
space is minimal i believe it could be wrong but just looking at the comps to this particular

1057
01:08:04,014 --> 01:08:10,294
function it's like it's pretty boring and there's not like great ways to extract value from it but

1058
01:08:10,294 --> 01:08:14,934
and it's being pitched that way so there's a bunch of institutional investors who want to ride a

1059
01:08:14,934 --> 01:08:23,314
crypto wave um and again bring it back to my point like bitcoin's tam moving forward even at a 1.8

1060
01:08:23,314 --> 01:08:28,434
trillion dollar market cap is there's way more upside potential for individual and institutional

1061
01:08:28,434 --> 01:08:35,394
investors alike so i mean i think it could like i don't pretend to understand exactly how all their

1062
01:08:35,394 --> 01:08:40,314
back-end system works like what they really wanted to cross collateralize all this stuff

1063
01:08:40,314 --> 01:08:40,974
to take out loans.

1064
01:08:41,154 --> 01:08:41,614
It's like really

1065
01:08:41,614 --> 01:08:43,174
the funding

1066
01:08:43,174 --> 01:08:44,134
of a lending product

1067
01:08:44,134 --> 01:08:44,834
at the end of the day.

1068
01:08:45,794 --> 01:08:46,194
Yeah, I mean,

1069
01:08:46,214 --> 01:08:47,194
I think they can,

1070
01:08:48,894 --> 01:08:50,314
the backend stuff

1071
01:08:50,314 --> 01:08:53,034
is just so outdated.

1072
01:08:53,854 --> 01:08:54,034
You know,

1073
01:08:54,074 --> 01:08:55,034
like I'm sure

1074
01:08:55,034 --> 01:08:56,134
whatever they're doing,

1075
01:08:56,294 --> 01:08:57,034
I mean, I'm not sure.

1076
01:08:57,114 --> 01:08:57,834
I don't fucking know.

1077
01:08:57,894 --> 01:08:58,994
But there's lots

1078
01:08:58,994 --> 01:08:59,574
of improvements

1079
01:08:59,574 --> 01:09:00,374
that can be made

1080
01:09:00,374 --> 01:09:01,794
that might use

1081
01:09:01,794 --> 01:09:03,194
like a centralized ledger

1082
01:09:03,194 --> 01:09:04,514
and then the tokenized aspect

1083
01:09:04,514 --> 01:09:06,494
is like their press release

1084
01:09:06,494 --> 01:09:06,894
or whatever.

1085
01:09:07,834 --> 01:09:09,454
And they significantly

1086
01:09:09,454 --> 01:09:11,754
improve the counterparty risk scenarios

1087
01:09:11,754 --> 01:09:13,614
of whatever they're doing behind the scenes.

1088
01:09:14,634 --> 01:09:15,514
Between the

1089
01:09:15,514 --> 01:09:17,354
wiring house, the broker dealers,

1090
01:09:17,634 --> 01:09:19,714
and the DTCC. That's a whole shit show

1091
01:09:19,714 --> 01:09:21,654
behind the scenes. Yeah, but don't buy

1092
01:09:21,654 --> 01:09:23,314
Chainlink because of this or whatever.

1093
01:09:24,054 --> 01:09:25,594
You're not going to accrue any

1094
01:09:25,594 --> 01:09:27,754
value there. And don't be sold

1095
01:09:27,754 --> 01:09:29,514
this idea that it's improving

1096
01:09:29,514 --> 01:09:31,694
shareholder freedom or

1097
01:09:31,694 --> 01:09:32,834
whatever, because it's not.

1098
01:09:33,174 --> 01:09:35,834
The actual shareholder experience isn't really changing.

1099
01:09:37,834 --> 01:09:38,974
You know what is changing?

1100
01:09:38,974 --> 01:09:44,394
the total amount of zaps we're getting this episode silent.link 42 000 sats rhr forever

1101
01:09:44,394 --> 01:09:51,854
thank you silent link soap miner 21 000 stubborn bastard going to keep trying this till it goes

1102
01:09:51,854 --> 01:09:56,634
through it went through buddy thank you hope you're feeling go to silent go to silent.link

1103
01:09:56,634 --> 01:10:04,834
use code rhm i don't think he actually has a code but uh i use it for my esim it's a great way

1104
01:10:04,834 --> 01:10:11,434
we were talking actually i thought about after the fact we were talking about uh which cell

1105
01:10:11,434 --> 01:10:17,334
provider had an outage in the united states last week was it verizon or cheap mobile one of the

1106
01:10:17,334 --> 01:10:25,814
cool things about silent.link is so you pay you get a btc pay invoice you pay it you get an e-sim

1107
01:10:25,814 --> 01:10:30,334
that you download to your phone so instead of the physical sim card you have this digital sim that

1108
01:10:30,334 --> 01:10:35,094
just automatically loads onto your phone. Now, all of a sudden you have data, right? It's prepaid

1109
01:10:35,094 --> 01:10:41,194
data. Depending on the carrier you choose, the data changes cost. And depending on the country,

1110
01:10:41,194 --> 01:10:46,294
you have different carriers to choose from. And then as you run out, you keep refilling it by

1111
01:10:46,294 --> 01:10:51,514
just opening up a BTC pay invoice. Fantastic. Really just clean user experience, great service,

1112
01:10:51,814 --> 01:10:57,814
reliable. But one of the really underrated aspects of it is you can choose your carrier on the fly.

1113
01:10:57,814 --> 01:11:18,734
So like you could be, you could be using T-Mobile because it's the cheapest and maybe has the best coverage in your area. If T-Mobile goes down, you can literally just open your phone and switch to Verizon or switch to AT&T. Like that is fucking awesome. So in these types of situations, like if you're worried about one of the carriers going down, Silentlink is actually a really great option for you.

1114
01:11:18,734 --> 01:11:23,494
and I've seen this by the way it's not even just the carriers go down I think I've talked about in

1115
01:11:23,494 --> 01:11:30,614
RHR in the past but you go to like if you go to like an NFL game like in the stadium like the cell

1116
01:11:30,614 --> 01:11:35,614
tower can be overloaded but sometimes it's just if the majority of people there have Verizon or

1117
01:11:35,614 --> 01:11:40,554
whatever the Verizon tower is overloaded you just switch to T-Mobile and then you have really great

1118
01:11:40,554 --> 01:11:45,714
reception you switch to AT&T and you have just like really great bandwidth so it's just a good

1119
01:11:45,714 --> 01:11:51,954
life hack it works really well recommend yeah the phones have made it very easy to

1120
01:11:52,834 --> 01:12:01,794
sort of buy these eat sims and turn them on super simple um i cut you off did soap miner

1121
01:12:02,594 --> 01:12:07,394
so myers app does it so minor did he figured out his app great company as well hands were sopy

1122
01:12:08,114 --> 01:12:14,914
he does have a rh code so go use it there just always try code rhr yeah everywhere

1123
01:12:15,714 --> 01:12:17,574
Bitcoin Ranger, try it on your taxes.

1124
01:12:17,734 --> 01:12:21,334
We might actually be able to give you 10% off your taxes this year through the IRS portal.

1125
01:12:21,914 --> 01:12:22,374
Put it in.

1126
01:12:23,554 --> 01:12:25,614
Bitcoin Ranger is at 21,000 sats.

1127
01:12:25,614 --> 01:12:29,734
First ever Bitcoin treasure hunt happening in Buena Vista, Colorado next Saturday.

1128
01:12:30,414 --> 01:12:32,674
One, people receive a small amount of Bitcoin.

1129
01:12:32,974 --> 01:12:36,094
Two, people spend the Bitcoin at businesses who have agreed to participate.

1130
01:12:36,354 --> 01:12:42,394
Three, spending Bitcoin at each business unlocks clues that lead to the Bitcoin treasure.

1131
01:12:42,554 --> 01:12:42,914
Oh, that's fun.

1132
01:12:42,914 --> 01:12:46,994
Supporting businesses and getting Bitcoin into the hands of as many people as possible.

1133
01:12:47,374 --> 01:12:49,294
We'll open source and continue to build.

1134
01:12:49,694 --> 01:12:50,814
It does sound fun.

1135
01:12:54,454 --> 01:12:57,354
Hopefully it's just like a bunch of small breweries.

1136
01:12:57,474 --> 01:12:58,534
You just make it like a bar hop.

1137
01:12:59,014 --> 01:13:00,134
Bitcoin treasure hunt.

1138
01:13:04,534 --> 01:13:05,214
John Arnold.

1139
01:13:05,254 --> 01:13:05,874
I like that concept.

1140
01:13:05,974 --> 01:13:06,614
It was a cool concept.

1141
01:13:07,114 --> 01:13:08,994
Thank you for your disrespectful zap.

1142
01:13:12,914 --> 01:13:14,594
What was the zap? I missed it.

1143
01:13:15,694 --> 01:13:15,894
Oh.

1144
01:13:17,514 --> 01:13:19,134
210 sets. Don't spend

1145
01:13:19,134 --> 01:13:20,814
it all in one place. Wow, fuck you.

1146
01:13:25,014 --> 01:13:26,834
I even gave him a friendly

1147
01:13:26,834 --> 01:13:28,434
shout out earlier in the episode.

1148
01:13:30,354 --> 01:13:32,434
I mean, he's drawing red lines.

1149
01:13:32,894 --> 01:13:33,714
Drawing red lines.

1150
01:13:35,154 --> 01:13:36,774
People keep asking me to share the deck

1151
01:13:36,774 --> 01:13:38,654
to this Bitcoin 101 lesson. I'm actually embarrassed

1152
01:13:38,654 --> 01:13:40,794
to show it because I'm terrible

1153
01:13:40,794 --> 01:13:42,794
at designing slideshows. It's just a bunch

1154
01:13:42,794 --> 01:13:48,474
picture of currencies that have existed throughout history and some federal reserve to the monetary

1155
01:13:48,474 --> 01:13:57,034
base when we would do um baruch it was we had a like the bitcoin 101 slide with both of her names

1156
01:13:57,034 --> 01:14:01,994
and then like then we would just open a web browser it's just gonna

1157
01:14:01,994 --> 01:14:06,674
it wasn't even a slide deck it was just we would just go from website to website

1158
01:14:06,674 --> 01:14:18,734
what are you um i'll tell you after i'll tell you after okay fair enough

1159
01:14:18,734 --> 01:14:23,814
what about i mean i think no one's asked you the real questions like

1160
01:14:23,814 --> 01:14:29,454
you're speaking at your rival high school what about like the non-rival like your actual high

1161
01:14:29,454 --> 01:14:36,654
school my alma mater the uh place where it was where i was educated uh yeah i'm talking to people

1162
01:14:36,654 --> 01:14:37,434
I'm going to get in there too.

1163
01:14:37,574 --> 01:14:39,174
My mom's like distraught.

1164
01:14:39,334 --> 01:14:39,634
She's like,

1165
01:14:39,694 --> 01:14:42,394
have you not spoke at your alma mater yet?

1166
01:14:43,334 --> 01:14:43,814
I mean,

1167
01:14:43,894 --> 01:14:45,074
it's pretty shameful.

1168
01:14:45,074 --> 01:14:45,534
To this day,

1169
01:14:45,654 --> 01:14:47,074
my mother is more,

1170
01:14:47,114 --> 01:14:48,754
is more,

1171
01:14:50,134 --> 01:14:53,554
is more caught up in the mix of the rivalry

1172
01:14:53,554 --> 01:14:55,294
than my brother and I are these days.

1173
01:14:56,334 --> 01:14:56,594
Fair enough.

1174
01:14:56,594 --> 01:14:56,914
So she,

1175
01:14:56,974 --> 01:14:57,634
she takes,

1176
01:14:57,794 --> 01:14:59,854
she's taking offense to the fact that I've,

1177
01:14:59,854 --> 01:15:01,334
I've spoken at my rival three times

1178
01:15:01,334 --> 01:15:02,614
and I haven't been back to my alma mater.

1179
01:15:02,894 --> 01:15:03,174
Yeah.

1180
01:15:03,214 --> 01:15:03,434
I mean,

1181
01:15:03,434 --> 01:15:04,054
I think it,

1182
01:15:04,134 --> 01:15:05,674
it should be shameful.

1183
01:15:06,434 --> 01:15:07,314
It's not without effort.

1184
01:15:07,454 --> 01:15:08,194
It's not without effort.

1185
01:15:08,274 --> 01:15:09,234
I've offered the services,

1186
01:15:09,414 --> 01:15:11,814
but I think admittedly I'm not getting to the right people.

1187
01:15:12,134 --> 01:15:15,714
I just need to put in more effort on my end.

1188
01:15:16,894 --> 01:15:17,994
I think my hair is turning gray.

1189
01:15:18,574 --> 01:15:20,894
This is a big moment for the show.

1190
01:15:21,734 --> 01:15:21,954
Yeah.

1191
01:15:22,414 --> 01:15:23,314
It's that gold chart.

1192
01:15:24,434 --> 01:15:25,194
Oh, gosh.

1193
01:15:33,194 --> 01:15:33,594
Yeah.

1194
01:15:33,874 --> 01:15:34,134
Yeah.

1195
01:15:34,134 --> 01:15:34,514
All right.

1196
01:15:34,854 --> 01:15:35,414
What do we got?

1197
01:15:35,674 --> 01:15:40,914
anything anything else anything in the monster any questions from let's look we got questions

1198
01:15:40,914 --> 01:15:45,374
from the youtube that we got it we have to read uh shout outs before we wrap that's for sure

1199
01:15:45,374 --> 01:15:53,734
um and also i noticed someone um oh someone's at 21 000 sats on our announcement

1200
01:15:53,734 --> 01:16:01,314
of our time and he said great job chief white 21 000 sats thank you sir all right and timely

1201
01:16:01,314 --> 01:16:12,214
We didn't have it in the notes because it wasn't released yet, but the Financial Freedom Report for this week was just released, and we were asking questions about Iran, and they have a section on Iran.

1202
01:16:12,734 --> 01:16:15,074
Freedom tech surges amid historic protests.

1203
01:16:15,174 --> 01:16:23,014
As historic protests grip Iran, people are turning to freedom technologies to communicate, organize, and protect themselves from authoritarian repression.

1204
01:16:23,014 --> 01:16:26,954
downloads of the offline messaging app bitchat which enables peer-to-peer communication without

1205
01:16:26,954 --> 01:16:32,054
internet connection have more than tripled in iran as people seek ways to circumvent the regime's

1206
01:16:32,054 --> 01:16:37,034
internet shutdown at the same time iranians are moving bitcoin off exchanges and its self-custodial

1207
01:16:37,034 --> 01:16:41,734
wallets with a sharp spike in withdrawals concurrent with late 2025 protests in the

1208
01:16:41,734 --> 01:16:48,454
january 26 internet blackout according to reports from chain analysis this come as this comes as the

1209
01:16:48,454 --> 01:16:52,814
iranian regime imposes a virtual lockdown following weeks of mass protests against currency collapse

1210
01:16:52,814 --> 01:16:55,874
and the state corruption that began on December 28th.

1211
01:16:55,874 --> 01:16:59,374
Human rights groups estimate that several thousand people were killed

1212
01:16:59,374 --> 01:17:00,794
and more than 20,000 detained.

1213
01:17:01,474 --> 01:17:04,414
In context, the Iranian regime is pairing financial collapse

1214
01:17:04,414 --> 01:17:06,914
with total security control, internet blackouts,

1215
01:17:07,054 --> 01:17:09,594
mass surveillance of phones, and militarized policing

1216
01:17:09,594 --> 01:17:12,194
aimed at deterring protests through fear.

1217
01:17:12,654 --> 01:17:17,014
It underscores that the uprising has not merely been suppressed.

1218
01:17:17,114 --> 01:17:19,414
It has forced the state to expose how fragile its grip

1219
01:17:19,414 --> 01:17:20,954
on the Iranian people has become.

1220
01:17:20,954 --> 01:17:27,914
so that's an update on iran for more stories like this and others make sure you sign up for

1221
01:17:27,914 --> 01:17:34,594
the financial freedom report at financialfreedomreport.org it's not org right it's not

1222
01:17:34,594 --> 01:17:43,874
yeah it's not.org it's not.com yep um top sats from rabbit hole recap 392 approaching 400 feds

1223
01:17:43,874 --> 01:17:50,794
first fed uh evan 44,444 sats thanks to everyone who supported our push for self-custody rights

1224
01:17:50,794 --> 01:17:55,814
in the breath in the nebraska's legislator the banking committee chair killed it immediately

1225
01:17:55,814 --> 01:18:01,774
because cartels hate competition also mark team mark twain used the term suck eggs and the

1226
01:18:01,774 --> 01:18:09,834
adventures of tom sawyer 1876 so it's not just a zoomer thing boomer reference big love from the

1227
01:18:09,834 --> 01:18:17,174
podcasting 2.0 crowd this week bitcoin hurler 35,053 sats palindrome boost hey marty new year

1228
01:18:17,174 --> 01:18:25,014
knew you quit going on about that lacrosse injury check out hurling youtube 2025 all ireland hurling

1229
01:18:25,014 --> 01:18:32,834
final highlights men's game amateurs love of parish soon citadel next time you are in ireland

1230
01:18:32,834 --> 01:18:39,954
you can play a game on my team make your boys proud uh bitcoin hurler i mean i love watching

1231
01:18:39,954 --> 01:18:44,094
hurler highlights by the way number two i haven't complained about my lacrosse injury in probably

1232
01:18:44,094 --> 01:18:45,534
of years. Yeah, I got a concussion.

1233
01:18:45,954 --> 01:18:48,174
I don't bring it up that often. Did you complain about it

1234
01:18:48,174 --> 01:18:48,654
last week?

1235
01:18:49,834 --> 01:18:50,414
No, I didn't.

1236
01:18:51,454 --> 01:18:53,454
I don't recall. I've had six concussions.

1237
01:18:53,754 --> 01:18:54,054
I don't know.

1238
01:18:55,734 --> 01:18:56,134
Yeah.

1239
01:18:59,514 --> 01:19:00,094
I wouldn't

1240
01:19:00,094 --> 01:19:02,154
be afraid to play hurling. The other

1241
01:19:02,154 --> 01:19:04,034
injury, which was a basketball injury, which happened

1242
01:19:04,034 --> 01:19:06,134
after my lacrosse injury, I tore all the ligaments

1243
01:19:06,134 --> 01:19:08,114
in my left knee. I don't have any ligaments in my left knee.

1244
01:19:08,474 --> 01:19:09,814
I can't really

1245
01:19:09,814 --> 01:19:12,214
no lateral movement

1246
01:19:12,214 --> 01:19:13,174
in the left knee.

1247
01:19:13,774 --> 01:19:14,454
Can't ski.

1248
01:19:15,514 --> 01:19:16,094
Can't do anything.

1249
01:19:16,174 --> 01:19:17,854
He's like a hippo freak.

1250
01:19:17,974 --> 01:19:19,414
If he's chasing, you've got to zigzag.

1251
01:19:20,494 --> 01:19:21,454
Break his ankles.

1252
01:19:22,154 --> 01:19:23,174
I won't be able to catch you.

1253
01:19:25,334 --> 01:19:26,694
An African told me that,

1254
01:19:26,774 --> 01:19:28,974
but the hippo, they can run super fast.

1255
01:19:29,634 --> 01:19:31,454
I can get up to 50 miles an hour.

1256
01:19:31,654 --> 01:19:32,714
You've got to break their ankles.

1257
01:19:32,914 --> 01:19:33,794
They can't turn, though.

1258
01:19:34,054 --> 01:19:34,934
You've got to break their ankles.

1259
01:19:34,934 --> 01:19:36,794
You've got to keep zigzagging.

1260
01:19:37,974 --> 01:19:38,654
Same with gators.

1261
01:19:38,654 --> 01:19:41,654
Maybe next week

1262
01:19:41,654 --> 01:19:43,174
we should just

1263
01:19:43,174 --> 01:19:46,894
forget Bitcoin news. We'll just

1264
01:19:46,894 --> 01:19:49,154
play Irish hurling

1265
01:19:49,154 --> 01:19:51,114
and we'll just commentate.

1266
01:19:51,274 --> 01:19:51,674
We could just

1267
01:19:51,674 --> 01:19:54,554
bring a six back.

1268
01:19:54,554 --> 01:19:55,194
Live reactions

1269
01:19:55,194 --> 01:19:58,454
to Irish hurling. I'm down.

1270
01:19:59,174 --> 01:19:59,894
I'm down for that.

1271
01:20:00,814 --> 01:20:01,374
Orange Horizon.

1272
01:20:01,374 --> 01:20:04,234
On the suck eggs piece

1273
01:20:04,234 --> 01:20:08,374
apparently my

1274
01:20:08,374 --> 01:20:11,574
My wife told me that while my toddler was watching RHR,

1275
01:20:11,654 --> 01:20:15,614
he was very excited that I was promoting eggs for people to eat.

1276
01:20:16,514 --> 01:20:17,754
Very pro-eggs.

1277
01:20:18,054 --> 01:20:21,654
So I just needed to reiterate, eggs are a superfood.

1278
01:20:22,374 --> 01:20:22,674
They are.

1279
01:20:22,774 --> 01:20:25,574
Stack some chickens, and then you have infinite superfood.

1280
01:20:26,394 --> 01:20:28,754
I had some superfood this morning, every morning.

1281
01:20:29,474 --> 01:20:30,374
At least a couple eggs.

1282
01:20:31,714 --> 01:20:33,274
Orange Horizon, 21,000 sats.

1283
01:20:33,394 --> 01:20:35,054
Kind of late to the game, but better late than never.

1284
01:20:35,054 --> 01:20:44,474
By the time this is read out on the next show and after receiving much grief, we will be offering discount code RHR at the Orange Horizon web store.

1285
01:20:45,054 --> 01:20:46,694
Do you see the monster you've created, guys?

1286
01:20:46,774 --> 01:20:47,894
I do, and I love it.

1287
01:20:48,314 --> 01:20:55,794
Instead of slapping toxic slop all over your body, check out our natural sunblock option, which comes in light, medium, and dark skin tints.

1288
01:20:56,614 --> 01:21:02,394
We are Nostrum Bitcoin-only business and proud to serve you as a personal request.

1289
01:21:02,394 --> 01:21:07,154
can we have a bit more marty jones next episode that's why i got more marty jones there's not

1290
01:21:07,154 --> 01:21:11,314
eight billion people on the planet stop suppressing your all three ago let them

1291
01:21:11,314 --> 01:21:21,374
let them have some air time again orange horizon sunblock natural use the code rh

1292
01:21:21,374 --> 01:21:26,434
orange horizon next time you zap boost whatever make sure you leave a url i have no idea where

1293
01:21:26,434 --> 01:21:27,334
to send people.

1294
01:21:28,374 --> 01:21:29,794
Just use code RHR.

1295
01:21:30,794 --> 01:21:32,934
Maybe it's orangehorizon.com.

1296
01:21:33,054 --> 01:21:33,634
Have you tried that?

1297
01:21:36,434 --> 01:21:37,614
You don't even have it

1298
01:21:37,614 --> 01:21:39,954
on your profile description

1299
01:21:39,954 --> 01:21:40,694
on Nostra.

1300
01:21:40,854 --> 01:21:41,894
This is terrible marketing.

1301
01:21:41,994 --> 01:21:43,874
It's not orangehorizon.com.

1302
01:21:44,614 --> 01:21:44,994
So Marty,

1303
01:21:45,034 --> 01:21:46,094
how many people do you think

1304
01:21:46,094 --> 01:21:46,974
there actually are

1305
01:21:46,974 --> 01:21:48,234
if it's not 8 billion?

1306
01:21:49,494 --> 01:21:50,334
Maybe half.

1307
01:21:52,034 --> 01:21:53,334
So how many Americans

1308
01:21:53,334 --> 01:21:54,154
do you think there are?

1309
01:21:54,154 --> 01:21:54,514
Are we,

1310
01:21:55,074 --> 01:21:55,994
is that also

1311
01:21:55,994 --> 01:21:57,974
that's probably

1312
01:21:57,974 --> 01:22:04,374
because what is it is the official number 330 million adults

1313
01:22:04,374 --> 01:22:12,034
330 is really 40 somewhere around there how many americans 348 million people is what they say in

1314
01:22:12,034 --> 01:22:18,234
the u.s yeah it seems like everybody's been coming here so that number could be accurate

1315
01:22:18,234 --> 01:22:23,294
i don't know i mean it it lines up with by the way the conversation we were having about like

1316
01:22:23,294 --> 01:22:25,034
people calculating

1317
01:22:25,034 --> 01:22:27,514
Venezuela oil reserves

1318
01:22:27,514 --> 01:22:29,374
and then realizing like it's just a completely

1319
01:22:29,374 --> 01:22:31,674
trusted number based off of Maduro's regime

1320
01:22:31,674 --> 01:22:33,414
and before that

1321
01:22:33,414 --> 01:22:34,594
Chavez and

1322
01:22:34,594 --> 01:22:37,054
they have a

1323
01:22:37,054 --> 01:22:39,214
incredible incentive to over

1324
01:22:39,214 --> 01:22:41,274
overestimate that number which I would say

1325
01:22:41,274 --> 01:22:43,374
China and India definitely have an incentive to

1326
01:22:43,374 --> 01:22:44,314
overestimate that number

1327
01:22:44,314 --> 01:22:47,354
but I would also say I mean India specifically

1328
01:22:47,354 --> 01:22:49,354
probably has no idea how many people they have

1329
01:22:49,354 --> 01:22:51,314
like even if you ask Modi like he

1330
01:22:51,314 --> 01:22:53,194
probably doesn't know. Yeah well

1331
01:22:53,194 --> 01:22:59,514
Well, and if you think about the electoral college and districting and how it works in the United States,

1332
01:22:59,514 --> 01:23:04,974
there is an incentive for people to juice numbers in particular parts of the country for political reasons,

1333
01:23:05,514 --> 01:23:07,534
to get more representatives on the Hill.

1334
01:23:07,814 --> 01:23:11,294
Yeah, probably everyone has an incentive to juice numbers on that.

1335
01:23:11,294 --> 01:23:11,514
Yeah.

1336
01:23:12,914 --> 01:23:19,334
I mean, I also remember as a young kid, one of the original psyops was –

1337
01:23:19,992 --> 01:23:21,072
Over population.

1338
01:23:22,912 --> 01:23:30,432
Everything was a symptom of the over population, quote unquote, issue.

1339
01:23:31,792 --> 01:23:33,272
So there's an incentive there.

1340
01:23:36,392 --> 01:23:36,952
Yeah.

1341
01:23:38,612 --> 01:23:38,932
No, no.

1342
01:23:39,052 --> 01:23:39,832
250.

1343
01:23:41,452 --> 01:23:42,052
250.

1344
01:23:42,492 --> 01:23:43,592
That's what we have in America.

1345
01:23:44,292 --> 01:23:44,612
Oh, no.

1346
01:23:44,892 --> 01:23:45,292
Really?

1347
01:23:45,592 --> 01:23:48,112
But what about all the illegals that aren't counted in the 350?

1348
01:23:48,432 --> 01:23:49,732
They're all going back, brother.

1349
01:23:49,732 --> 01:23:55,172
we're getting back down to 250 i don't know yeah maybe maybe we're actually at about 350 because

1350
01:23:55,172 --> 01:24:01,972
it's overestimated and then but then doesn't include illegals yeah so then it just kind of

1351
01:24:01,972 --> 01:24:06,512
washes itself i mean i think the smaller the country probably the harder it is to fake at scale

1352
01:24:06,512 --> 01:24:14,512
right and i think most you do you do agree that china and india are the most populous countries

1353
01:24:14,512 --> 01:24:15,192
right

1354
01:24:15,192 --> 01:24:17,032
like we think

1355
01:24:17,032 --> 01:24:17,812
that's directionally

1356
01:24:17,812 --> 01:24:18,112
correct

1357
01:24:18,112 --> 01:24:19,192
I think it's

1358
01:24:19,192 --> 01:24:19,892
directionally correct

1359
01:24:19,892 --> 01:24:20,092
yeah

1360
01:24:20,092 --> 01:24:22,972
yeah I mean

1361
01:24:22,972 --> 01:24:23,472
I think

1362
01:24:23,472 --> 01:24:24,352
you can like

1363
01:24:24,352 --> 01:24:24,752
India

1364
01:24:24,752 --> 01:24:25,732
India supposedly

1365
01:24:25,732 --> 01:24:26,452
there's like pictures

1366
01:24:26,452 --> 01:24:27,532
of like Indian cities

1367
01:24:27,532 --> 01:24:28,232
like there's a lot

1368
01:24:28,232 --> 01:24:29,052
of fucking people there

1369
01:24:29,052 --> 01:24:30,352
yeah just the trains

1370
01:24:30,352 --> 01:24:31,052
alone of like

1371
01:24:31,052 --> 01:24:32,152
pictures of people

1372
01:24:32,152 --> 01:24:32,932
hanging off the trains

1373
01:24:32,932 --> 01:24:33,292
it's like yeah

1374
01:24:33,292 --> 01:24:33,832
there's a lot of people

1375
01:24:33,832 --> 01:24:34,072
there

1376
01:24:34,072 --> 01:24:46,672
yeah that a fun it a fun thought exercise to run down I don know like maybe like 5 billion people not 8 4 and a half or something I mean if we just extrapolate

1377
01:24:46,672 --> 01:24:49,312
the Chinese

1378
01:24:49,312 --> 01:24:50,272
dissident

1379
01:24:50,272 --> 01:24:53,032
she's saying there's one third of the people that are reported

1380
01:24:53,032 --> 01:24:53,552
to be there

1381
01:24:53,552 --> 01:24:55,932
I don't think there's one third of the people

1382
01:24:55,932 --> 01:24:57,312
global population

1383
01:24:57,312 --> 01:24:59,552
I was joking

1384
01:24:59,552 --> 01:25:01,692
I do think the American

1385
01:25:01,692 --> 01:25:03,312
numbers are probably around right

1386
01:25:03,312 --> 01:25:08,992
I mean, she's probably also over, she's probably being provocative too, right?

1387
01:25:09,032 --> 01:25:11,452
Like it's probably more than 500 million Chinese.

1388
01:25:12,212 --> 01:25:13,232
Yeah, 5 billion.

1389
01:25:13,932 --> 01:25:17,532
Probably like a happy, there's like a happy middle ground somewhere there.

1390
01:25:18,192 --> 01:25:27,432
I mean, the real metric to look at is, why is this not loading?

1391
01:25:27,432 --> 01:25:36,412
well you're uh waiting for that to load shout out to esme horn 21 000 sats thank you thank you

1392
01:25:36,412 --> 01:25:42,632
and sean 21 000 sats great rep thank you sean glad you're liking it i mean the real metric is

1393
01:25:42,632 --> 01:25:51,632
i just pulled up our youtube like we only have 37 thumbs ups on this video so like yeah

1394
01:25:51,632 --> 01:25:54,392
Where are the other 7 billion people?

1395
01:25:56,672 --> 01:26:04,672
It just the numbers don line up No wonder engagement been down We just signed a syndication deal at Reuters We should be live streaming in everybody house now

1396
01:26:07,352 --> 01:26:10,772
Part of that deal is that they would automatically like the video

1397
01:26:10,772 --> 01:26:12,012
on behalf of the people watching.

1398
01:26:14,452 --> 01:26:17,152
Anyway, this is bullish for Nostro numbers

1399
01:26:17,152 --> 01:26:19,912
if there's significantly less people.

1400
01:26:20,192 --> 01:26:21,812
They're not as bad as we thought they were.

1401
01:26:22,192 --> 01:26:22,672
Yeah.

1402
01:26:24,592 --> 01:26:26,032
They're not that bad at all.

1403
01:26:26,192 --> 01:26:27,012
They're not that bad at all.

1404
01:26:27,152 --> 01:26:27,592
We're going to win.

1405
01:26:28,372 --> 01:26:29,052
Future is bright.

1406
01:26:29,732 --> 01:26:31,952
Something just dropped in the back of Matt's background.

1407
01:26:32,472 --> 01:26:34,592
I dropped an Allen key.

1408
01:26:36,432 --> 01:26:37,112
An Allen key?

1409
01:26:37,232 --> 01:26:38,252
It's an Allen wrench, right?

1410
01:26:38,572 --> 01:26:39,212
You call it an Allen key?

1411
01:26:40,252 --> 01:26:41,012
Yeah, I guess.

1412
01:26:42,192 --> 01:26:42,592
I don't know.

1413
01:26:42,732 --> 01:26:43,772
I can't find it now.

1414
01:26:44,672 --> 01:26:46,272
It's just like one of those L things.

1415
01:26:47,032 --> 01:26:47,812
What do you call those?

1416
01:26:48,812 --> 01:26:49,392
An Allen wrench.

1417
01:26:50,352 --> 01:26:50,572
Right.

1418
01:26:52,012 --> 01:26:53,912
This isn't me.

1419
01:26:53,912 --> 01:27:00,212
it's some person great comments this week sir or lady used to fear monger we used to fear monger

1420
01:27:00,212 --> 01:27:04,412
overpopulation now we're fear mongering underpopulation the truth may be somewhere

1421
01:27:04,412 --> 01:27:08,872
in the middle we're doing just fine and control what you can control go have kids that's what you

1422
01:27:08,872 --> 01:27:27,372
can control oh yeah i had someone yeah i had someone so i posted the city thing with no comment i like posting these things with no comment because then it like a rorschach test so like I kind of got what I deserved I like kind of expected it but there was like a bunch of people on Noster that were like Oh like he like pitching great replacement theory

1423
01:27:27,932 --> 01:27:33,952
Like, no, no, no. Just have more babies. Like I, I support Nigerians having babies. I support

1424
01:27:33,952 --> 01:27:38,112
Danish people having babies. I support Americans having babies, have more babies,

1425
01:27:38,112 --> 01:27:46,032
consider having more babies it's it's it's it's a beautiful exhausting experience yeah i can hear

1426
01:27:46,032 --> 01:27:50,992
i can hear my baby crying in the background brings a nice little tickle to my heart okay it's down

1427
01:27:50,992 --> 01:27:58,032
there um all right i gotta get going i'm gonna do something at the top of the hour i'm gonna refill

1428
01:27:58,032 --> 01:28:04,112
my my salt of the earth look and pull up the uh the new skin shout out to all of our sponsors here

1429
01:28:04,112 --> 01:28:09,552
coin kite obscura saw the earth and stack go check them out thank you for supporting the show

1430
01:28:11,792 --> 01:28:19,952
you can get a free kill good retweet the thing when you know you can't get it right every time

1431
01:28:23,152 --> 01:28:28,512
we're gonna do more you want me to do it again yeah do it again love you all happy birthday

1432
01:28:28,512 --> 01:28:33,712
style stay on the stack sides peace and love happy birthday style