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You've had a dynamic where money has become freer than free.
If you talk about a Fed just gone nuts, all the central banks going nuts.
So it's all acting like safe haven.
I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins.
In the world of fiat currencies, Bitcoin is the victor.
I mean, that's part of the bull case for Bitcoin.
If you're not paying attention, you probably should be.
Food doggy.
We're giving Squawk Box a break this week.
Becky, Andrew Ross Sorkin, don't worry.
We're not competing with you this week.
Also, freaks, hand up.
I'm pretty proud of the amount of world travel I've been able to do in my lifetime.
but jet lag hits different with the toddler.
So sorry,
I did not warn you guys when we were going live.
I'm still,
we got it.
We got it late last night.
I'm still a little bit out of it,
but we'll get back into the swing of things starting next week.
On behalf of freaks everywhere,
you are forgiven.
No need to apologize,
sir.
Don't worry about it.
Dude.
I will say flights wise,
like it worked out better than I
I think it's really impossible to
complain
yeah I was worried for you guys there for a second
yeah I mean
the freaks don't know
well if you've been reading
between the lines they might know but
we were fortunate
enough to have a second child
as well so
we were traveling the four of us
and so it was more than just one
which we had done with
him in the past um but yeah they handled the flights well i uh lot of uh i was proud i was
proud of my wife and i was proud of of uh my kids it's not fun traveling internationally with kids
i've done it i've had good experiences have had bad experiences and i'm very
happy to hear that your most recent experience was a good one
freaks travel more while you can i think it's going to get harder not easier any uh
diary entries from traversing europe you want to share with the uh dude switzerland's good
switzerland's you know maybe switzerland i don't know if you can believe everything you read on
the internet but maybe switzerland is like the last stand of europe um it still felt like europe
It didn't feel like failed society stuff.
That's ridiculous.
Lugano is awesome.
Lugano is so cool.
It's like 300 plus stores except Bitcoin.
That's awesome.
It just feels like you're living in the future.
Tons of bars, burger places, restaurants.
And like I said, merchants in general, stores.
boutiques everywhere except spit coin is super cool and it's a beautiful place very it feels very safe
um so but i will say switzerland guys is very expensive both zurich and lugano i thought it
was maybe just a lugano thing but zurich was quite expensive too yeah zook is uh famously
expensive. I'll never forget when I
back in my TradFi
days when I was working at the Managed Future Fund
we
had a manager come in
from Switzerland and he literally took out a diamond
and crossed it a pen to take notes during our meeting.
I was like 22 at the time.
I was like holy shit bro.
What is that?
It's super expensive.
And I will say also
first time at the Plan B conference
and the freaks that have been
paying attention for a while now that uh getting a bit tired of events but uh
this is a good one this is a really good event they did a really good job um
best in class i was i was really impressed vibes are high speakers are good all the
side events and stuff stuff like food you know food and drink as someone who has has
unfortunately run many events myself like it was just flawless execution it was it was really
impressive um the drone show was pretty cool yeah i mean that must have been a half they no one
would give me a hard answer but like a half a million dollar drone show like how many drones
were involved i think that was expensive there were some sick memes that they were putting in
the sky there i think that was expensive um i mean i think you know tether probably was not
running it to make a profit which helped um they're plenty profitable in their main business
but i think that was a really that was a really cool fucking joy seeing it in person was
fucking awesome i can't imagine i was thinking like and it was just all bitcoin memes um
like imagine just being like an ordinary swiss person like living in lugano
just like you're like sitting on your porch like what the hell's going on over the lake over there
why are there pepe the frogs in the air right now why am i looking at an iq bell curve meme
uh the fomo was building as the week was going on from afar it looked like a very well
organized and high production conference.
How was the startup pitch?
Oh, Cypher Tank.
It went well.
I'm not allowed to say anything about it until it's live.
But I guess it's going to get posted to Rumble in December.
Very high production quality.
They seem to be taking it very seriously.
So it's cool to see young people just really excited about building on Bitcoin.
That by far was the best part to me.
And just really, you know, it was a fun experience.
Next year.
I want to make it to Lugano.
You heard it here first.
October 30th, year of our Lord, 2025.
2.27 p.m. Eastern.
It's a Thursday.
moving over to the Noster live chat we've got two 21,000 sap boosts first from Chef Tommy
we chef we traveling with children internationally two times a year and it never gets easier
laughing emoji god bless you we want to have we want to well two things first of all
uh we want to have more kids so um whenever it was difficult i just reminded myself that
it only gets more difficult uh so that that helped a bit and then nvk gave my wife and i probably
uh one of the single best pieces of advice uh that he's ever given me uh a year ago or so maybe
it was like a year and a half ago and he was like look if you're on the plane anyone who's a parent
completely understands they have their noise cancelling headphones and they're just glad
they're not in your position and he's like and then anyone without kids is completely worthless
in society so they don't really matter when you were setting that up i was thinking go one or two
ways he gave you the best or worst advice ever i was i was sort of hoping it was gonna be the worst
advice he's telling you to walk up the aisles with your kids the whole flight i mean like if
you don't have kids i don't think you're worthless to society he's he's you know obviously always
been a very provocative individual um but uh there of course there's bad parents out there
but there's very few parents that are sitting there and are in a better situation than you
they're trying to calm down their kid they're like trying to make it work out they're stuck
in a steel tube there's no escape it's not like a restaurant where they can leave walk out with the
kid um and uh like the airlines like they even like if you're not traveling with a kid they just
treat you like cattle right it's like the whole process is like an absolute horrible process
um and there's no like happy path that they give families like i how is there not if there was if
If it wasn't this heavily regulated bullshit market, if it was an actual free market, I can't help but think that we would have a more positive family environment.
You can imagine, put a family section on planes or something that is separated from people that have sound barriers.
I bet you they can't put barriers up because of safety regulations.
well if the plane crashes like you're all gonna fucking die anyway like don't give me just put a
separate exit back there might as well let the childless people have some peace before they die
by putting the barrier yeah you know yeah put a sound and and also just like a like a physical
running barrier like i don't know about like my toddler like if i closed my eyes for like two
seconds he was going to try and make a fucking run for it be down the plane um we kept our second
child in a car seat on a plane for as long as possible until he was physically too big yeah we
didn't do the car seat thing that's also the funny thing it's like so like at his age now
he has his own seat and on one of the flights there was like there's like six flights right
on one of the flights you know he really wanted to he loves looking out the window he loves planes
and stuff like refused to stay seated so i put him in my lap and i was just like bear hugging him
You know, I was like a human straitjacket.
And the stewardess was like, no, FAA regulation says he has to be in his seat with the seatbelt on.
I was like, well, there's no way that's safer.
Like, we're all just turning, you know, turning a blind eye here.
Like, I got my seatbelt on.
I'll hold on to him if we're crashing.
But, you know, their hands are tied in a heavily litigious environment.
And then meanwhile, all the super rich people are like flying on their private planes and shit.
So they're never there's no incentive to fix it.
like they don't have to deal with that.
Yeah.
We just have to get super rich and then we can just ignore the problem.
Yeah,
exactly.
Then we'll just,
it's like,
uh,
what,
uh,
when I was younger,
like the drinking age,
it was like,
Oh,
they like sentence you to,
as an adult,
they can send you off in the draft,
but you can't drink.
But I was like,
it's one of my single biggest issues.
And then as soon as you turn 21,
you're like,
ah,
fuck them.
I dealt with it.
Yeah.
Go,
go have fun in the woods kids.
I had to do it too.
No,
you're mentioning,
I will say though,
earlier this year,
uh,
Costa Rica,
the airport in San Juan or no Liberia.
That's where we flew in and out Liberia.
Incredible service for families.
Like we walked in,
there was a long security line.
Somebody notices myself,
my wife and our two children at the time.
And they came in like,
all right,
you guys get to the front of the line,
like walked us to the front of the line,
got us through security in like five minutes.
It was great.
Where was that?
Costa Rica Yeah All the all the other cultures tend to do it better on the family side And that benefits everybody
You also don't want the kids stuck in a long security line.
If you're standing there, everyone's going to have to deal with it.
On the back half of that flight, the destination, Dallas,
are connecting going back to Austin.
We waited in customs for an hour and a half
and then waiting in security line to get back in the airport another hour.
It was pure torture.
for everybody.
I,
by standards.
Yeah.
One of the TSA checks I walked through,
uh,
this is just such a funny start of this episode.
But anyway,
one of the TSA checks I walked through with my son and,
uh,
we supposedly rang the random check or whatever.
And so he's like,
you know,
they got like the,
uh,
wand,
uh,
the wand,
the,
the bomb wand thing that they like wand all over to test or whatever they're doing like my son's
hands his feet he's got his little backpack like they're doing his backpack like are you kidding
me like okay this is this is the priority got it whatever he handled it well but it was just
hilarious it's like wanding his shoes well i found it out this weekend tsa we don't have to take our
shoes off anymore security but if you're wearing cowboy boots uh they automatically get like seen
in the fucking body scan thing and you have to take them out i had to do this twice last weekend
it was not fun we need to get rid of how did the government shut down not shut down the tsa for a
period of time we just need to experience that for like literally one week just american citizens
experience the TSA not existing for a week.
And I think they would be shut down rather quickly.
Well, that's the thing is like the rich people don't have to go through the TSA.
Private airports don't have TSA.
I see yellow in the YouTube comments.
Yeah, that was another yellow performed live in Lugano, which was cool.
What's the public look like performing live?
I didn't get to meet him in person.
He was literally on stage.
He was just wearing a mask for OPSEC reasons.
He's not a big fluffy yellow person.
He's an actual person.
Oh, I never knew that.
That's interesting.
Spoiler.
Soapminer's at 21,000 stats.
What's up, freaks?
Can't stay as other obligations.
We'll watch later,
but wanted to zap the live shows at these guys, they provide value.
Thank you.
So much.
Use your product earlier today.
Use it every day.
I see, um, I see buck 52,000 or whatever,
complaining about kids and restaurants, resorts, airplanes, yada, yada, yada.
Look, I, once again, I, I, they're probably,
there definitely are bad parents out there.
I just think they're a minority.
Um, I also think, you know, in terms of free market stuff,
while there should be family focused stuff,
There should also be, you know, I'm surprised that there are an actual market dynamics for, you know, kid free airlines.
There's kid free cruises.
There's kid free resorts.
There's plenty of restaurants that don't allow children.
I hate being near your children in restaurants, resorts and airplanes.
Buck 52,000.
Find a heart, sir.
Find a heart.
You were a kid once.
But still, once again, like I said, there should be like I'm I'm a free market guy.
Like there, there's a hundred, a hundred percent should be options there.
There's just something,
there's just something very wrong with the modern airline industry.
And it, I'm pretty sure it all comes down to regulations and,
and the lack of proper free market dynamics. And that base basically,
there's just a ton of state control there.
And then the rich people fly private.
So then there's just a massive disconnect, right?
And if you want to fly private across the Atlantic, it's probably like $100,000, $125,000.
You want to fly private domestic, it's probably like $20,000, $25,000.
So it's just a huge jump between commercial and private.
I don't know.
I'm hoping things like JSX try and solve it.
But there needs to be regulatory work done.
It can't just be done.
I think it's JetBlue is really trying to bury JSX.
It's a shame that people won't like competition.
You're in the market.
It is regulations.
The other thing is – oh, is this tweet about airlines?
I'm just going to highlight.
This is the bot of the day.
Responded to RHR going live on Twitter.
It says, love this deep dive into Bitcoin with Odell and Marty Bemp.
Pure gold.
We haven't mentioned Bitcoin until I read this tweet.
So this is a bot.
The title says Bitcoin.
And our last title said gold.
The other thing, by the way, Freaks, is the reason I've been CO2 pilled.
I've never heard of someone being CO2 pilled.
By our good friend, Paul, the founder of Stackwork.
And so he recommended this.
He actually gave me my first monitor, my first CO2 monitor.
Then he said to give it to a friend.
So I gave it to a friend and then I bought another one.
But the CO2 concentration, right?
So oxygen versus CO2 in the air.
When you're outside, it's about 500 parts per million.
Once it gets to like 2,000, your mental capability drops like 25% or something.
When it gets to like 4,000, you're basically retarded.
um and so this is why airflow is incredibly important and on airplanes and one of the
craziest parts of this whole thing is you know a lot of important decisions in humanity are made in
boardrooms and shit where there's like no airflow and lots of people right lots of people and very
little airflow um make make that number spike the two places so i've been just walking around with
the co2 sensor now all the time um the two places that it gets really bad in is modern
modern uh particularly high-end hotels where that don't let you open the windows
um and then this because they do it for energy efficiency quote-unquote and like suicide
liability whatever you can't open the windows and the second is airports and airplanes and you can
see it like when you're sitting on the tarmac you see it start spiking and spikes like 2025
2,500. The kids are losing it. The adults are losing it.
Like everyone is absolutely losing it. And then when you get to altitude,
it usually comes back down to like 11, 1100,
somewhere around that area, a thousand, 1100.
And everyone calms down and gets a little bit better.
But if there was actually real market dynamics between customers,
then they would probably try and solve that problem.
They wouldn't just have you sitting in a tarmac, you know,
just breathing in everyone's dead air.
man i think you just co2 pill man you get my own co2 monitor the best brand the best brand is
aranet a-r-a-n-e-t i highly recommend it um it runs on double a batteries it lasts forever it
has a little e-ink display on it and just simply just tells you the temperature and tells you the
co2 content and you can you can pair with your phone it's very simple with bluetooth
so I just keep it in my bag
and I can just check the app on my phone
but when I'm somewhere
I can just put it down on the mantle
or something and just read the ink screen
maybe we should reach out to
to become a sponsor we're a CO2
monitoring podcast now
there you go
I have not
I pay them they don't pay us
I kid
This is not a CO2 monitoring podcast.
It's a Bitcoin podcast.
We're going to get Bitcoin.
Not yet.
If we go sub 100K, we might become one.
Yes.
Before we get to Bitcoin, sad day for the city of Philadelphia.
Over the weekend, we lost one of our legends of the radio waves, Pierre Robert, 93 WMMR DJ for the last 44 years.
the voice of the city
the king of rock and roll
in Philadelphia passed away
it looked like he went peacefully
had a good week last week but
Pierre's been on my mind
today my dad was a massive fan of him
been thinking about my dad a lot
and uh
Philly lost a legend over the weekend
just wanted to say something about Pierre Robert
incredible DJ
in the Philadelphia FM radio space
R.I.P.
alright
All right. Now onto the good stuff. Actually, maybe I shouldn't call it good stuff. The current price of Bitcoin is $107,080. I think it's officially dumped. One cock buck is going to get you 934 sats. Sitting at a $2.14 trillion market cap. We're at block height $921,499, which means we are one block away from block $921,500.
We had a pretty sizable difficulty adjustment earlier this week,
I believe early yesterday morning, of upward 6.3%.
New difficulty, all-time high.
Right now we are 1,828 blocks away from the next difficulty adjustment,
estimated to be on November 11, 2025,
looking like a negative 2.2% adjustment as of right now,
still very early in this epoch.
So take that estimate with a grain of salt.
Block's been coming in at 10 minutes and 21 seconds on average.
Wow, this may be the lowest I've ever seen Clark's teeny weeny mempool.
360 transactions in Clark's teeny weeny mempool.
If we go over to mempool.space, 89,896 before it jumped.
One sat per V-byte across the board.
As you may know, Clark's teeny weeny mempool isn't including teeny weeny transactions with sub one sapper V-byte transaction fees.
Mempools is.
That is why you see a massive 90,000 transaction divergence there.
But Logan, go to the mining thing.
I wrote about this two days ago.
The average hash rate over the last week is 1.12 Zeta hash per second.
I'm sure you freaks will recall in mid to late September, we covered the fact that we crossed one Zeta hash for the first time on the one-week average.
It's a pretty significant milestone.
People have been waiting for one Zeta hash of mining.
And now you have one Zeta hash and you have decimals to the side.
And everybody can think like, oh, that's interesting, those decimals.
But 1.12 Zeta hash, we've added 120 exahash since the middle of September to the Bitcoin network.
And to put that into context, the network in total didn't reach 100 exahash for the first time until January 2020, 11 years into the protocol launching.
So I just think, this is what I wrote about, I don't think people can really comprehend how fast hash rate is expanding right now.
like what took 11 years to go from zero to 100x the hash the network just added that
in less than six weeks which is just mind blog mind boggling to me
higher higher and that's the signal there there is signal there the bedrock the foundational
layer arguably of the bitcoin network the hash rate the energy being converted to electricity
being converted to hashes, being converted to the scarce digital best money ever that
we know as Bitcoin.
And that process is very strong right now and only getting stronger.
It's more people plugging miners.
And I wrote the article, people are like, what's driving it?
Multitude of factors, people finding cheap energy, people plugging bid axes into their
houses, nation states mining, chips getting more efficient, the whole gamut.
We don't know exactly.
and that's the beauty of it we'll never know exactly who's plugging in miners where did you
see um uh in our group chat with our wives uh apparently my my toddler is watching rhr and saw
you drinking uh salt of the earth and immediately asked for salty water and now hey is this an
announcement there's a sponsor announcement you did all the bad i don't know what our promo code
is. I think you created it. It's just RHR.
Just RHR. 15%
off. Drinksauté.com.
There you go.
It's the best.
That also helps with travel.
Just pound that.
Pound this. Have your kids pound that
instead of any kind of soda
or anything like that.
And beef jerky.
Beef jerky
and salt to the earth and
hydrated and fed.
No seed oil. It's all set.
My boys are addicted to the Chomp beef sticks, big beef sticks.
Here, three times a day, can I get a beef stick?
Yes, you can get a beef stick.
My oldest calls it good meat.
Good meat?
Yeah.
Because that's what I would call it.
I was just like, you want some good meat?
88 Sats Radio says that looks delicious.
It is delicious.
It's the pink lemonade, and I also got a...
a packet of the creatine in here.
The grapefruit is my favorite.
My lady's favorite is pink lemonade.
So when my son wants it, he goes,
Mama Salty or Papa Salty?
Papa Salty is grapefruit and Mama Salty is pink lemonade.
I like all the orange grapefruit.
I go on waves.
I'm on a pink lemonade wave right now.
I'll catch the orange wave probably next.
All right.
To the list.
We are God knows how many minutes into the show, and we should probably talk about that point.
First topic on the list, it looks like Floppy has discovered what seems to be a critical vulnerability in the Cashew protocol, particularly if you're running a mint.
Callie quote tweeted Floppy and said, please update.
Floppy found a denial of service that we patched in version 0.18.0.
It's a funny one, actually, but more soon.
Funds are safu, but you should update ASAP.
Thanks for the disclosure floppy.
Very good catch.
So, yeah.
So this is specifically if you been watching for a while you know we front load at least on the list we front load disclosures vulnerability disclosures So this is specifically if you are running a Mint And my understanding is someone malicious can take
down your Mint, stop it from being online, but they can't actually compromise funds.
But you should still update ASAP. Also, there might be a little bit of confusion. So I just
want to make sure real quick. I see no Lambo for you in the YouTube comments. To be clear,
Salt of the Earth's main product is electrolytes.
It's just really high-quality electrolytes.
By the name, you can tell it's quite salty.
Marty separately is using their creatine.
I put a packet of electrolytes, a packet of creatine, and don't worry.
No Lambo.
I'm not giving my young children creatine.
There we go.
I just wanted to clear the air there.
It's not a gummy.
I know Sean, the founder of Solid of the Earth, very well,
and he prides himself on finding the best ingredients
on the electrolytes and the creatine.
I know you mentioned creatine gummies, but I trust Sean.
And you can verify any ingredients.
Next up on the list, big discussion this week is
Bit44 software has been proposed with the launch of Bitcoin Core version 0.30.0 about two weeks ago now, and particularly the uptick in people upgrading to it.
I'm trying to...
Dat Hanum?
Dat Hanum.
Yeah, I know it's a name. Dat Hanum. I don't know how to pronounce it.
took to the mailing list and the BIP repo and said,
due to core version 30 gaining in popularity,
it has become necessary to move forward on Luke Jr.'s ML proposal
to temporarily limit arbitrary data at the consensus level,
which so far has three weeks with no objections.
I'm just reading.
When he's written, implementation for the proactive deployment
is under construction, while the quote-unquote reactive deployment
is feature complete but lacks tests.
mailing list thread at the link.
And so, yeah, it seems like the escalation to launching,
I guess this would be considered a soft fork,
but could create a hard fork if most people don't download it
or a lot of people don't download it, is escalating.
If you go to the link, to be clear.
to be clear um because words matter uh a a soft fork a soft fork that is pushed
through without consensus can result in a chain split um a hard fork is
is um you know like more preemptive it's like you know there's going to be a chain split ahead
of time it's not backwards compatible ideally has relay protection uh so you can't you don't
have transactions you know that are that are cross relayed between chains replay or relay
yeah replay protection um yeah i said relay protection i'm still running on jet lag um
you you have when we've never actually seen a soft fork attempted without overwhelming consensus
I think it could get quite messy.
I think it's more important than ever to self-custody your own Bitcoin and use your own node.
Because if you're not, and there is a chain split, then you're going to be at the mercy of whatever custodians you use.
And I think kind of the same goes with these leveraged Bitcoin stocks, which way they want to go.
And specifically, one of the dynamics at play with a soft fork in this type of scenario is the soft fork chain is restricting rules, right?
They're reducing what you can spend.
So anything mined by the soft fork chain is still valid on the non-soft fork chain.
so theoretically at any point that chain could then reorg the other chain unless
there was something actively done to prevent that reorg
so we'll see we'll see how this plays out i think it's still pretty premature
um my understanding is you know this was more of a declaration rather than you know any kind
of implementation client being released or code being released or anything like that.
Presumably, it will be not.
But one piece I would say is, you know, there's been a bunch of justifications in the soft
fork that are legal justifications, with some implications that people that don't just go
along with this soft fork and don't go along with this change to Bitcoin might be held legally
liable. And separately, in the background, there's been murmurs of potential legal threats to people
to try and push them into a rush soft fork. And I would just encourage people not to do that,
if that is the plan. You're your own person, you're welcome to do it. But just theoretically,
presumably sending threatening legal letters to competing mining pools might be a slippery slope
that you don't want to go down so yeah what if you're i would just appeal to zaner heads
i mean i know you're beating around the bush i think it's this has gone
way off the rails
into la-la land.
Absurdity.
I've been consistent. If it's consensus valid
in an
implementation wants to
change policy to enable things that are consensus valid,
it's within
consensus rules. I don't know.
I understand why people are making
a big hoopla about it and
driving it to this point, but
I don't think it's the wise path.
I think
there's a lot of
subjectivity and idolism on the sides of the knots camp.
I do think the way core communicated things and, um,
sort of just implemented the policy could have been done better.
But at the end of the day, in my mind, I'm an individual,
you can have your thoughts. I'll have my thoughts. This is where I stand. Uh,
I think people are making a mountain out of an anthill. Um,
and i know there's gonna be people who hop in the menchies who hop in the live chat
accuse me of being a a shill a traitor whatever it may be but with that in mind look and pull up the
the link i just put in there just to read through what luke is proposing um which is if we're going
this route we should just close all the gaps for the immediate future uh first limit new script pub
keys to 83 bytes or less 34 doesn't seem terrible utxos are a huge cost to nodes we should always
keep them as small as possible anything else can be hashed zoom in logan for the people watching at
home limit script data pushes to 256 bytes with an exception for bip 16 redeem scripts make
undefined witness slash taproot versions invalid including the annex of op success to make any
legitimate usage of them we need a soft fork anyway see below see like this is where subjectivity
enters to make any legitimate usage who determines legitimate usage limit taproot control block to
257 bytes 128 scripts max or at least way less than it currently is way less a bit subjective
340 e36 scripts is completely unrealistic make up if invalid inside tap script it should be
unnecessary with Taproot and has only seen abuse.
We should do all these together in a temporary soft fork that self-expires
after a year or two. This would buy time to come up with longer-term solutions,
observe how it impacts the real world. Since it expires, other
soft forks making use of upgradable mechanisms can just wait it out
for those mechanisms to become available again. Therefore, we basically
lose nothing. This is intended to buy us time, not a permanent fix.
I won't read the rest of it.
I think there's some concerns.
There's some concerns that it'll lock up funds,
specifically in certain taproot constructions.
So this would be, if that is the case,
this would be the first self-work that does that,
that freezes people's funds actively,
um which i think uh should probably be a red line um the argument is that it's temporary
which so they they have a year to complain about it and then we'll let them access their funds in a
year um i don't i'm look i i think it's a feature not a bug that bitcoin is incredibly hard to change
I think a lot of people on the anti-core side or the pro-not side, depending on your perspective, are upset in their perceived belief that core changed Bitcoin.
I think if you believe that, it makes complete sense why you'd be upset.
But you might be able to argue that in practice, a default policy change in terms of relaying transactions results in a practical change of Bitcoin, but it didn't change the consensus rules.
So rushing into a change is a concern to me, into a consensus change.
um and then also trivialize trivializing that process because a soft fork is always a risky
process because there's no way for us to tell consensus ahead of time you only really find
out afterwards by doing it something that's temporary is also a concern to me like you should
probably put in the work to just do it right the first time like well we're going to deal with
another potential, but we're going to deal with the ship for another year. Um, and then another
potential change, but in a year, even in the best case scenario, I think is a, is a big issue.
Um, I think we're already seeing at least one mining pool F2 pool, which is quite large as
has stated that they have no intention of going along with this. Um, so I think people that are
saying that it's you know will has no possibility of being messy is also just straight bullshit
uh if if if this is pushed through it will most likely be messy bitcoin will be fine
well more importantly anybody listening to this who's not seeped in the sort of low level protocol
war or discussion that is going on now and is looking inside from the outside and saying,
what the heck?
What do I do?
Do I download this software?
Do I download that software?
What version?
Sure.
Do nothing.
Just don't do anything.
The best.
Hold self-custody.
Hold self-custody, but do nothing.
Just hold it in self-custody.
Take a deep breath.
Hold self-custody.
Bitcoin's rule set is very difficult to change.
and Bitcoin is incredibly robust and has had effectively 0% downtime,
as close to zero as you can get.
But yeah, and once again, just to reiterate,
the reason self-custody is important, regardless of your opinions,
like on which side of this debate you lie on,
is because if you don't self-custody, then once again,
you're trusting the custodian to make decisions for you.
Because if we do end up in a situation where there is a chain split,
But if you own one Bitcoin today, you'll own one Bitcoin on each side of the chain.
So to Marty's point, if you do nothing, one chain should eventually trend to zero.
That's my thesis, at least.
That's what we've seen in the past.
The one that is, quote unquote, the minority one, the one that the market dictates is less
valuable, will trend to zero over time.
So some people will try and bet one side against the other.
If a chain split lasts long enough and a market develops, people will try and trade them against each other.
But if you do nothing, then you're at no risk of loss, really.
So this all can be quite frustrating, regardless of which side you're on.
but I think it's a minority group of people that are even talking about this
I do not think this is the cause of the recent price dip or whatever you want to call it I don't
know if it's officially a price dump yet because Marty hasn't dictated if it is one
I think that's probably more related we're under 107 it's a dump we're dumping we're dumping it's
officially a dump yeah everybody goes um but yeah i think uh i don't know this is definitely the
early days i think it's important that we acknowledge that a soft work proposal is out there
um but i feel like this is is something we'll probably be talking about for
a while um so just this is just the entry to the discussion yeah precedent for do nothing too um
I think we go back to 2017, the Bitcoin cash fork and why you should hold your Bitcoin in self-custody.
Bitcoin and Bitcoin cash forked off, I believe, at the end of August.
I think it was August 30th.
2017.
That was a hard fork.
Yeah, Bitcoin cash hard forked off.
But if you held Bitcoin in self-custody, you immediately had access to coins on both chains.
and coinbase didn't give their users access to bitcoin cash if you're holding a bitcoin balance
on coinbase there was a lot of discussion back and forth in the industry particularly around the
exchanges like what do we do do we give our clients access to both coins uh how do we do that
coinbase waited four months to do it and they ninja launched it like i believe it was like
December 21st, like right around Christmas time
when not many people-
It was like a Tuesday.
Yeah, it was like a Tuesday at 7 p.m.
like during the Christmas holiday.
And I think the price may have actually pumped but regardless if you want it to I think Bitcoin Cash almost hit a half of one Bitcoin No I think it was all high
I think it was like, but that was, wasn't that Tuesday, like all-time high Bitcoin Cash?
Yeah, like wicked up temporarily.
It was like on the one minute chart, like wicked up to 0.5 BTC per BCH.
I mean, that's a perfect example to Marty's point.
Like if you panicked at that point and sold your Bitcoin for Bitcoin Cash,
because you thought it was about to flip,
you fucked up big time.
Yeah.
The people that just did absolutely nothing were fine.
Yeah.
Just be aware.
It's happening.
Did it kick?
Because I was a recorded episode with Danny earlier this week
and Hoddle and Eric Case.
and sorry Danny if I'm spoiling
the incredible podcast that we recorded
but this came up briefly in conversation.
I was looking for an official BIP list.
I think they took it out of the official BIP list.
So you hit the link you had.
The GitHub logo has like a red X on it.
I don't think this is in the official BIP repository anymore.
and then you have like all this drama now emanating from this did they revoke
dns access to bitcoin core luke's dns access he had uh
the privileges to sign um a chain state to validate that it was valid at a particular
point in time and i think they um they removed he's one of like he's one of like 12 dns seeds
something like that um so when you bootstrap a node at first like to find other nodes they hit
these hard-coded nodes that are run by volunteers and uh i think there was a
there there was definitely a a pull request or an issue created in the repo to remove him i mean
I don't think that has actually been processed or anything.
It hasn't been merged.
I mean, the argument, I think it's a little bit,
it's clearly an emotional, well, fuck you too kind of thing.
But Luke has literally said Bitcoin Core is malware.
So it's a little bit weird for him to be seeding malware,
if that's actually his opinion.
And to Marty's point of like, I think this has gone completely off the rails.
I will unequivocally say that Bitcoin Core is not malware.
One of the best reviewed pieces of open source software in the world.
You shill.
You BlackRock shill.
Phil Mustang in the Noster live stream, 21,212 sets.
Peace and love, boys.
Marty, you still look like my cousin Hank.
well if i look like your cousin hank i hope i continually still look like him
i don't know if he's changed or if i changed but if we look alike at any point in time we
should probably look alike into perpetuity i would imagine but thank you for the zap
um i do have a ride or die freak telling me separately that bcash did not hit 0.5 bitcoin
no it hit like 0.25
if I recall correctly
okay well I just asked
Maple, Maple said it hit
4300
on December 2017
what was the price
of Bitcoin?
16,000
no I don't think so
I think it was lower
at 13.8
okay so you're right
thank you Maple for fact checking
us live
maple getting better speaking of 14 000 yeah 4500 divided by 14 000
i recorded with mark from maple earlier today great episode that'll be out next week
gotta support the private ai i'm sure you saw the new new humanoid neo i know you saw because
responded to my it was point it was 0.32 btc 0.32 was was the price in bitcoin terms which is
arguably more important than the dollar price yeah what's the deal with that i mean isn't that
not a real product they just like twitter similar like when they first on the hype train
i think it's similar to when they first demoed um
optimists like elon came out and admitted like yeah we had tesla workers like they have like a
indian dude at a call center like operating yeah there were some incredible memes that came out but
yeah i mean they're pushing for this humanoid robot stuff and i won't spoil my conversation
with marks but i mean it seems pretty evident that this push towards
a multitude of different robot form factors that are going to be part of your everyday life i mean
i think first arguably tesla we've talked about this before on the show and now i can't help but
be hyper aware of it when i'm driving on the road or parking in a parking lot like and park next to
tesla it's like that thing is videotaping me right now um so many cameras yeah but now like
when we get to this humanoid stuff they're gonna have cameras too and we have to seriously think
about what type of privacy nightmare we might be stumbling into no one gives a shit marty
i'm being provocative there's few of us there's few of us it's it's i mean they've been setting
it up right like the you have the ring cameras on everyone's doorbells connect to amazon servers
um they make those personal assistants as well right like alexis and stuff with cameras now
for your bedside they make like a little clock um so i think a bunch of people uh
i think a bunch of people will do it and yeah i mean i think it's uh
I think the white pill is actually, you know,
the white pill is that it probably will get worse
before it gets better.
And there's just going to be tons of privacy compromises.
And then as the privacy compromises happen,
people will see the light and move to better tools
and protect themselves.
And I think the important part is to have those tools
available to them when they realize the need for them.
But they probably, the majority of people will not realize the need without significant pain that I don't think we've seen yet.
Yeah, I think you said it best yesterday in response to my Neo-Naster.
Robot Fight Club, the Bitcoin standard.
There you go.
uh we've got a 23,332 sat boost or zap excuse me uh in the nostril live stream that's a palindrome
zap for anybody following along at home from florida justin i'm assuming fl means florida
long time rider die since 2020 first able to participate live thanks to primal shout out to
primal appreciate all you do to support the plebs and building out a great ride or die community
well justin number one thank you for this app number two
this community is building itself we come back because you guys
keep growing and get the bond gets stronger so we love all y'all i need some water
i um i mean it's pretty cool it just goes to show how much better the tools are getting that
we have such a popping live chat uh but once again not giving any notice whatsoever when we
were going live stuff that's so awesome just seeing it directly and whatever nostril app you
is I mean Primal supports it I think Amethyst supports it Nostre obviously Zapstream
but pretty fucking cool and it's it's going to get better we're working on specifically on the
Primal side we're working on better notifications and reliability and whatnot a lot of things a lot
of things for Primal 3.0. VTC pins you have a dirty mind sir I know I've talked about this in
the past i think that's like the um well he well btc pen said think the remote robot operators will
quit when everyone uses them to masturbate like that is actually some of them actually like it
you know some of them are probably hoping for that if we're being honest no if you forget the
remote operate the remote operators is like a temporary bullshit hype thing um like we are going
towards my, my like dystopian view is, or at least my like short to medium term dystopian view
is they create like VR pods, right? Like the tech bros create like VR pods that you just
get into the pod. So not a robot, you get into the pod and then you're like on a beach somewhere.
And the last piece, like wherever you want, like you can be in perfect, no problems,
no personal responsibility just like life on training wheels they like hook you up to an ivy
or whatever so you're like quote-unquote nourished like fucking seed oils and shit all they have to
the last piece is simulating the sex if they can simulate sex that's even like nearly close to real
sex like people are just going to check out they're already checking out on social media and
checking out on video games and porn and all this other shit if they can get into vr pod and like
have sex with like the girls of their dreams or whatever,
and the places of their dreams,
they're just going to fucking check out from society.
And that's going to get really fucking dark.
The,
the bright side of that as a Bitcoin perspective is they probably will pay
with Bitcoin.
Right.
So it'll be like,
it'll cost a certain,
you'd like pay a thousand sats,
2000 sats.
And then you'd like check out for a month in your VR sex paradise.
and then after that
after that productive individuals
will
rebuild society
because the unproductive class
will just check out
clearly not reproduce
be in their little VR pods
and then we'll have a
you know
a long grind to utopia
yeah
while you were
bringing up this topic
and
up gullible mistake the first movie to ever talk about this was demolition man don't ever search
demolition man virtual sex scene on x kids i just made that mistake don't do it but demolition man
sylvester sloan sandra bullock i have it here i think we may get kicked off youtube if you play
for copyright things, but go look up
on YouTube, not on X.
Demolition Man, Virtual Sexy.
They're literally physically
across from each other and they put on the helmets
and that's how
they have intercourse with each other.
It's not graphic at all.
I mean, it's a...
Oh, I want to talk about porn.
It's a theme
that's been in
sci-fi for a bit now. It's in a bunch of books
too.
I mean, I see some questions about core increasing op return in the comments.
Do these people just listen to RHR for the first time?
I don't think so, but just in practice of good faith.
the argument for increasing the default up return relay limit on core from core maintainers was
that you can do these transactions anyway consensus rules don't limit them
and they are presumably things that are outside of policy outside of these mempool relay policies
are getting mined anyway.
So we might as well remove the limit,
remove the default limit.
Users can add the limit if they want to
and not basically dictate a limit on the release level.
And I personally was against that idea.
I think most of this could have been avoided
if you just let users configure a higher limit
if they wanted to in an easier way, right?
Because instead of just going to the config file, put in the GUI or something.
And also just the fact that everyone is aware of Notts.
But Peter Todd, who I have a lot of disagreements with, also releases Libre Relay.
So Libre Relay is his version of core.
Notts is Luke's version of core.
Notts restricts relay rules.
Libre Relay increases relay rules.
And people are already running Libre Relay.
And there's a question of how many of those nodes actually need to exist there for these things to get propagated throughout the network regardless.
And it's a much lower amount than the opposite side.
It's some minority amount, right?
1% of nodes, 2% of nodes that are running unrestricted relay rules are probably going to send these transactions around the network.
um so with all that said if that was the reality we're going to live in anyway
core could have just done nothing let that reality play out avoid all the drama avoid all the
bullshit and our lives probably would have been way better like i just wouldn't have to deal with
this for the last year and a half um well so i'm incredibly one sec i'm incredibly frustrated with
core on that side um and then i'm incredibly frustrated with the gas lighting that i've had
to deal with on the other side. It's particularly this idea that I don't care about Bitcoin as money,
which is just fucking retarded. So both those sides have been incredibly frustrating to me.
And we're here in the middle. I support your desire to run whatever you want to run.
But I think the plot has been lost a bit here. And it kind of feels like just
some kind of immune disorder or just like
technical dedicated Bitcoiners are just attacking each other.
Yeah.
Now, somebody was asking earlier in the chat about the Bitcoin.
What about Eric Bosco's Bitcoin?
I don't know if there's stable release out there yet,
but that implementation, so it's another implementation of Bitcoin.
Anything that's consensus valid goes.
in the bitcoin yeah it's like the the loosest from a policy perspective i guess is how you
would describe it it's consensus valid it's okay in the bitcoin yeah
i um if you want to talk for eight hours about it go find eric foskule and uh
it'll definitely fill you.
I also do think that, you know, there's just a lot of people want to control Bitcoin.
The good thing is that they can't.
But if the fight over, you know, what is the reference to implementation wasn't about Oppurtern,
it was going to be about something else.
Like this is something that has been brewing in the background for a while.
Op return got changed and people that wanted to be in control of the main implementation of Bitcoin seized the moment.
And right now, what we do see in the background is the Knotts crew is very loud on socials.
But there are a couple of parties in the background that are working, trying to, you know, be one of the main releases for Bitcoin out there.
And all this stuff has just been brewing in the background for years.
It's part of the reason OpenSAT started in the first place.
just the idea of having a independent organization that was more transparent and
more broad so to speak than than what exists to expand the developer pool that are operating in
bitcoin you guys are attacking bitcoin with all this developer support right that's what i hear
on the streets i think the best part is um i mean you can agree or disagree with sailors belief that
incredibly well-funded devs that just want to do good for bitcoin are the biggest threat to bitcoin
but uh if you do agree with that belief it's just a weird dichotomy to not think that
luke raising a shit ton of money for his privately funded thing while wanting to do good for bitcoin
which he clearly wants like i clearly think luke wants to do good for bitcoin i do not doubt his
intentions doesn't fall under that same umbrella um and i would say that if you think you know
you want to see bitcoin being used as money i just i it should be interesting to see where
sailor falls into all this should we stay live until we'll switch the title on the go we got the
strategy uh earnings call coming up we'll live stream it and comment on it as it's going on
You think they're not going to bring up the software?
No, but we're trying to pump views here.
Reacting to strategy.
Sales call.
Shareholder call.
Live.
On to another BIP at the application layer, which in my mind,
considering you just spent about an hour talking about BIP444,
this is a BIP that was also released in the last week that has not gotten
as much attention.
And again, it's at the application layer.
But it is chain code delegation
from the BitKey team.
This was incredibly, incredibly, incredibly...
What's the word I'm looking for?
I was incredibly pleased to see this.
Improving privacy and collaborative multi-sig.
Long story short,
the BitKey team has designed
a way in which
if you're engaged in a collaborative custody model,
in BitKey's model,
You have a key on the phone, a key on the hardware device, and then block holds a key in the cloud server that they control.
Typically up to this point, whether you're doing it with BitKey, Unchain, Kasa, whoever it may be, when you go to make the wallet, you give a bunch of information, creates an XPUB that you send Bitcoin to.
So with Chaincode delegation, the BitKey team has found a way to limit the amount of information that you share when you're creating a 2S3 multisig or a multisig, M of N multisig, in a way that if you hold a threshold of signatures that allow you to move the Bitcoin held within those multisig wallets,
you can accumulate bitcoin into those wallets without the third party knowing that you have
bitcoin so this is a privacy upgrade for collaborative multi-sig which is incredible to see
yeah i absolutely love to see it i mean this has always been
the biggest negative trade-off of collaborative custody
the positive trade-off being you have someone to hold your hand
make it easier for you to have secure multi-sig and have a secure setup.
And the negative was you had to trust them with your privacy.
So this has kind of been that kind of holy grail middle ground that people one way or
another were looking for, right?
This idea where you can have a company or even some other trusted individual, right?
You can imagine Uncle Jim type of scenario that is helping you with your Bitcoin custody
setup, but you don't want them to know your full transaction history and balance. So I think this
is awesome. I think it's cool that they released it out to the public. It seems like they planned
to, well, they say in the post that they plan to release it with BitKey. It's not in BitKey yet.
So, I mean, there's an alternate reality here, right, where they added it to BitKey first and
then released it to the public.
So it's pretty cool that they've been relatively consistent on building in the open and trying
to push forward the industry as a whole, which is just awesome to see.
Agreed.
And some nuance here, if you have privacy, so you set up the multi-state wallet, you
as the end user, you can send Bitcoin to the addresses associated with it.
the collaborative custody partner does not know where the big or does not know the addresses or
the amount of bitcoin in it the only way so this design and this model of collaborative custody
there is an instance in which your privacy would be unearthed and that is if you lose one of your
keys and you need the collaborative custody partner to be a co-signer in a transaction
for the UTXO is involved in that transaction,
they'll obviously know how much Bitcoin is in those addresses
and where they're going.
You're never going to get around that.
If they're signing a transaction,
they're going to know what's in the transaction.
The ideal world is that they don't know anything
until they're actually needed to sign,
which is awesome.
A couple other things in the live chat,
just because I don't know.
We try and do well by you.
I hope our actions have been pretty obvious over the last seven years
doing the show weekly, that I just want you all to take personal responsibility
and make your own decisions.
And we try not to shy away from harder conversations
or frustrating conversations, depending on perspective.
But I see a couple of comments here.
The first one is, didn't Sailor already share a video that said,
run knots at the end. There's a video of him saying that funding open source developers is
a risk to Bitcoin. And then at the end of the three minute video, it was like a clip from a
what Bitcoin did episode he did at the end of the three minute clip, clip, it said run knots. And he
like reposted someone else's video. So there's a decent chance that he did not know that it said
run knots at the end. He's kind of been dancing around a little bit, but I do like my intuition,
My intuition states that, believes that Saylor would not be in favor of a potentially contentious soft fork that could result in a chain split.
It seems ideologically against everything that he's spoken about previously, which is do as little risk as possible to a working base of a global financial system.
You know how chaotic it would be for Saylor if there's a chain split?
But that's like actually, there'd be so much chaos,
like in BlackRock too and stuff, there'd be a lot of chaos there.
I think Bitcoin would be fine,
but they'd have a lot of stakeholders asking them
how they're going to proceed, how they're going to handle it.
But yeah, that was a big one I wanted to answer.
I also saw Jor, he thanked us for clarifying, listens weekly,
just impossible to find direct signal.
Yeah, it's gotten very, very noisy.
I mean, just for another, like, so there's like all these different,
there's all these different, you know, quote unquote,
layer two networks that are using embedding data on chain to make their
network possible, Citro being one of them.
But Arc is another, you have like BitVM stuff.
And a lot of them are doing it in ways that end up on nodes where you can remove them after the fact They unprunable The whole reason OpReturn exists in the first place is because after you verify the chain
so after you do your first verification of the chain,
you download the blocks, you validate it,
make sure that it's following the rules of your node,
you can safely remove any OpReturn data from your node.
And you can actually do that on the fly as you're doing it.
So you can have much less disk space.
at the end of the day you just need to keep the utxo set basically that's the majority of the data
um so that's why operaturn exists the limit obviously you know the relay limit default
was there to reduce spam 100 was there to reduce spam and was relatively effective at it operaturn
is more expensive relay was less reliable operaturn will still be more expensive in this situation
relay will be more reliable um libra relay might have made this a reality regardless
direct api miners kind of made this a reality regardless and everyone wants to control bitcoin
well a lot of people want to control bitcoin um not all of us but a lot of people want to control
bitcoin unfortunately um it's very resistant to control by default uh that's the key value prop
that's like there's no way that bitcoin scales to the world and we all agree on everything
so the result is you just need a system that's really hard to change and very very difficult to
change um there's no otherwise it just falls into this governance bullshit stakeholder you know
stock voting and shit like that and then you just have human corruption at the end of the day
yeah if you haven't already go need read nick zabo's piece on uh social scalability
has zabo commented on this because he's very he's been very pronounced lately
uh has he comments on the soft fork i have not uh i've not checked on it
money blockchains and social scalability written in february 2017 i'm gonna go give that a read
it's on the Nakamoto Institute.
You can find it there.
I have not checked in on Zabo.
The last piece I would say is like,
and I actually have been very consistent on this
throughout the years.
You can go back and listen to the show
or different interviews and stuff.
I think in this type of situation,
if there's a concern of being contentious,
like the more the safer path is actually a hard fork like a preemptive hard fork like have a flag
day like know what day the chain split's going to happen put in put in replay protection reduce any
types of chaos possible and then whichever side is dictated as more valuable by the market would
win in that situation and it would be way less chaotic um if we're going to enter a situation
where you might have six block reorgs
or potentially even longer,
that's a pretty crazy time for Bitcoin.
I don't think anyone really benefits from that.
Or do the work to build consensus ahead of time
before you push through a soft fork.
And that usually does not result,
the best way to do that
is probably not social media mobs
calling people cucks and shit.
That's probably trying to bridge the gap.
That's hard though.
I'll go the hard route.
It's an existential crisis.
All right, moving on.
Advancements in Bitcoin and Lightning wallets, OpenSats.
An organization you may have heard of came out with an update on some of the advancements in the wallet space.
I'm sure you've heard of this organization.
I'm sure you've read this blog post.
What drew your eye here, Matt?
So at OpenSets, I'm very proud of what we built.
We've funded over 330 grants, over $30 million, almost $30 million.
We're just under $30 million has been sent out in open source grants over the last five years, all in Bitcoin, all made possible because Bitcoin is the best money.
We run on a full Bitcoin standard.
We take zero fees of donations, no cut of donations.
And we're sending out almost a million dollars a month to open source contributors in 40 plus countries.
I think the level of success is pretty hard to grasp.
And I don't think people really appreciate it.
A lot of the wallets they're using, a very small subset of that, by the way, is protocol work.
A lot of the wallets people are using, the Nostra apps people are using, things like BTC Pay Server, PayJoin.
We're going to have massive, we're seeing massive improvements in PayJoin across the network.
We've been heavily involved in that.
But a lot of these other charities, like a lot of other charities are able, they do like these massive PR pushes and stuff, right?
Like they have like beautiful brochures and everything.
But that's all getting pulled out of donations, right?
Like they're able to do that because they're spending a bunch of money on operations that we're not spending because we're not taking money out of donations.
So we're trying to do more of these impact reports.
And this is our latest impact report.
And the idea is let's showcase, you know, some of the successes that our open source contributors have had that we're providing grants for and supporting them.
And this one was about Bitcoin wallets, both on-chain and Lightning.
So I'd encourage people to give it a read if you're curious, if you actually want to know what we're funding and what we're doing.
And if you like what you see, in an ideal world, I would rather if the majority of funding for OpenSats wasn't coming from large corporations and a few rich people who undoubtedly mean well and we're very grateful for their support.
But it'd be better if that base was distributed more.
And so you can donate with Bitcoin.
You can donate with Bitcoin anonymously.
you can donate with Bitcoin under your name and get a tax deduction because we're 501c3.
Or you can donate with dollars and we'll automatically convert that to Bitcoin,
hold that in our multi-sig treasury. And recently we added the ability for you to donate with dollars
reoccurring, $20 a month, and we'll automatically convert into Bitcoin. So you can just go to
opensats.org if you want to learn more there. That's obviously also tax deductible. And so
The dream is you have 100,000 ride or dies
given $20 a month.
And then we just accelerate the open source movement.
We just push this whole movement 10 years, 20 years faster.
So maybe we can avoid VR sex pods reality.
They're coming, aren't they?
More ways than one.
Nice pun.
thank you for the work that you gg and everybody else at open sets does to make this possible
consider donating freaks if you're supporting the show using podcasting 2.0 if you're boosting
the episode streaming of sats as you listen i believe five percent to ten percent of every
stream boost is going straight to open sats lightning node yeah we run our own lightning
notes so you can also you can donate uh with with zaps through the uh the lightning address or with
the podcasting 2.0 it uses bare pub keys but a lot of podcasts ours included uh dispatch as well
there's a bunch of others that when you when you support through podcasting 2.0 a cut just
automatically goes to open saps which is really cool i'm just in the process of good faith i just
want to comment i see rowney is back to the knots discussion oh jesus come on wait no this i think
this is important i think it's important right um so rowney uh says i just think that knots in this
self-work are different things i agree with what knots represents but i'm not sure yet if this
self-work is the solution but i'm also not sure that doing nothing and letting nodes upgrade to
core 30 until there's all kind of data on the blockchain is the way to go and this is why i've
been very consistent in my personal recommendation, how I view the situation, which is you can just not
update your note. And this is something that we've talked about for years. Like one of the core
tenants, one of the core checks on Bitcoin core maintainers is that there's no auto updates,
that you're not automatically updating to the latest version. I think NVK brags that he runs
his organization on V19. I don't know how many years ago it was. I think that was like right
after segwit um maybe don't go that far back i think you know there was a lot of nice improvements
that have happened since then um but you can that's the cool part and so my concern with you
know while i think a lot of proponents on the not sides means well is if instead you're just
updating to whatever the latest knots version is and luke decides that he wants to soft fork this
thing then you are going to be running the soft fork that has always been the concern but if you
just run an old version and don't update and see how all this plays out you don't have that that
risk so it actually is kind of one in the same this is what it was all building up to the entire dot anyway that was gonna have done it again a little bit i think it important allow it allow it all right i looking for the financial freedom report i don know if it come out yet today
i mean i said we weren't going to talk about not to get him for five minutes but
But Jevy, RiderDiveFreak, makes a good point that in Knotts,
one of the changes Luke made is that after two years,
your Knotts release doesn't work anymore.
You have to update, which is just ridiculous.
Like, no.
Don't do that.
All right.
Sorry.
Probably not the final word on the matter, but we'll see.
You were in Nugano last week.
I don't think we read a Human Rights Foundation story of the week.
But we can read one and we can create a new one for Arsh and crew for this week.
The Ivory Coast, Cote d'Ivory, BitChat usage increases during pro-democracy protests.
Ahead of the October 25th presidential elections, protests are spreading across Cote d'Ivory.
And use of BitChat offline and encrypted messaging tool is increasing.
In early October, officials banned public protests on the Constitutional Council's decisions to reject opposition candidates while approving the candidacy of an incumbent president, Alassane Awatara, who has defined term limits to seek a fourth term in office.
security forces use tear gas on peaceful demonstrators and arresting more than 250
people this marks the fourth recorded instance of surging bid chat activity during periods of
civil unrest as people turn to freedom tech when rights are restricted and i'm going to write one
for the financial freedom report this week it's really not financially related but could be um
and not political unrest or civil unrest but i think i know you're going with it as we all know
Jamaica was subjected to Hurricane Melissa this week,
largest Cat 5 hurricane to make landfall since Katrina.
Obviously, Jamaica is a small island nation in the Atlantic,
and you want the tech to be there when you need it.
And it was cool to see.
I mean, not cool to see what's happening in Jamaica.
Obviously, it's horrible.
BitChat was the number two downloaded app in Jamaica this week
as things were getting chaotic for them.
Yeah, I mean, historically,
I mean, historically,
it's a relatively recent app, right?
But you see the boosts on the protest side, right?
And the uprising side.
This is the first time we've actually seen it
in a disaster scenario.
And it's a perfect example of,
you know, when you have really useful freedom tech,
it can be used in many different situations
to empower individuals.
And this is, you know,
a perfect example of a disaster situation where you might lose power, you might lose
traditional communications and having robust mesh communications, ideally that have Bitcoin
integrated. So you can send money around to become very, very powerful. And on that note,
by the way, one of my fellow unpaid board members, volunteers at OpenSats Dread,
He's based in Jamaica. He's building a business out there and a family. And he's been live posting about the damage that's been done over there. And he's raising funds as well through his BTC pay server.
so if you go to primal.net
slash dread
there's a link there right at the top
of the page to his BTC
pay server if you want to send some Bitcoin
I
you know I have
a ton of
respect and trust in Dredd that if you get him
Bitcoin he will put it to use
in a good way
I donated
yesterday I highly recommend
you all do Dredd is
one of the nicer
humans I've met in the space.
He's a wonderful human being.
I mean, in those disaster situations
when you can just zap Bitcoin into them,
you really feel the power.
No middleman, just straight to where it's needed.
Very privately, instantly, pretty crazy.
Yeah, that, I mean, just the radar.
radar videos of that
of that storm
were insane
I'm sure you saw the video
the plane flying
through the eye
mother nature
I did not
you didn't see that
Logan
find the
I've been traveling
with children
I'm just
find the plane
flying through the eye
Melissa
it's insane
like
just a raw power
that mother nature
can
can garner up
and it was a direct hit
no the fucked up
part was how i found out jamaica was getting hit by a hurricane was gg messaged our board group chat
and was like guys like i know you're volunteers but you have to review all these applications
we're getting all these applications and you have to review them and dread responds back he's like
dude i have a hurricane hitting me right now and that's how me and gg found out that there was a
hurricane
damn yeah that's insane
fucking brutal man yeah
oh i forgot about this i didn't put it on the list
well first of all support jamaica and uh to all the all the freaks out there um
our prayers are with you i mean it's going to be rough and uh
anything we can do to help i don't know where i feel like kind of helpless like like marty said i
donated as well i encourage the freaks to do it but if we can be helpful in any other way let us
know um freaks freaks have to stand together yes what did you forget did you see simple x is adding
a shit coin no someone posted in a live chat i am simple x coin there is i didn't look deeply
into it there's like some nft involved it's to incentivize uh incentivized uh servers people
hosting servers instead of a centralized way i'm sure i'm sure it's coming from a well i'm not sure
but it probably is coming from a good place.
I don't know what kind of run-seeking schemes are set up there
for SimpleX itself to basically take a pre-mine or anything like that.
But I have to look into it better, but high level is disappointing.
This is something we see a lot.
Session Messenger was another one that incorporated a shitcoin.
The tech seemed pretty solid on the privacy messenger front.
I think Telegram has a lot of issues, but they also just aped into fucking shit coins.
Obviously, Signal went with MobileCoin and then kicked out their founder due to his ties on it.
Part of the reason they kicked him out.
NIM is like a privacy network that is trying to be an alternative to Tor and also incorporated all this shit coinery into it.
um and i would just say out there to all the developers out there that to the ones that mean
well you know there's there's a path where you can do this without shit coins uh it might be the
harder path it might not be as lucrative oh yeah keybase shit coined it's a story as old as time
um keybase was so dope before they fucked it up yeah i think you can fix a lot of these things with
without blockchains uh with sats you can use sats um maybe cashew has a place in it um
maybe things you know like arc um but there's there's there's there's definitely a yeah i was
talking with um my last two sale dispatches was with francis of bull bitcoin who's incredibly
bullish on ARK and Alex B who's been working on ARK and just like very excited about it.
You've been skeptical, man. I've been bullish on ARK for like over a year now.
Well, my rule of thumb is like you ignore the hype until they ship something and they shipped it.
So that's usually the same path to take. By the way, I don't know if I said it,
but the five minutes is up. I think BIP444 might block ARK.
um it's up so because it messes with some tap or script stuff right yeah tap script yeah one of
the limits i think blocks how arc works a lot of that is above my pay grade i mean if you listen
back to the early days of lightning um like we got a lot of things wrong with lightning until we
used it in practice like that's how i learned so my understanding our understanding of arc is at
at its lowest level possible right now.
It'll only improve over time.
But yeah I don think to the devs out there you don have to shitcoin And I think what really interesting is stuff like key chat and white noise that are trying to and bit chat that are trying to use Noster and sats to solve this similar
problem without,
you know,
having centralized servers,
um,
that are,
you know,
obviously vulnerable to denial of service attacks and takedowns and stuff.
No,
you don't have to shit coin.
You don't have to add it to your chatting app.
You don't have to add it to your Wi-Fi portal.
You don't have to add it to your social media platform.
What's your goal?
Your goal is to monetize these things, right?
That's what you're trying to do by creating these tokens and trying to force a utility use case on the market.
You're trying to get paid for providing a service, whether that's producing content, giving people access to Wi-Fi, giving people robust messaging apps, or you want your users to be able to monetize within these things.
Just use the best money.
Listen, read the title of this episode, Bitcoin is the Best Money Ever.
Why would you use shitcoin to solve this monetary use cases when the best money ever exists?
and you can just use that.
Seems a bit lazy.
That's all true.
But you can also make a shit ton of fucking money.
Shit ton of fucking Bitcoin shit coining.
That's true.
If you're the one releasing the shit coin.
I take it all back.
Matt and I are launching RHR coin.
It's going to be what?
It's scarcer than Bitcoin.
There's only 20 and a half million RHR coins
that will ever exist.
Nobody can control it.
Two-minute block times.
Highly recommend it.
It's going to be the next Bitcoin.
We're not.
Never shitcoin, never will.
That's the standard.
We have a token.
It's called Bitcoin.
Yes, that was my whole point.
I have a 10-minute hard stop here,
so I just want to cover.
One of the things,
we got sidetracked because of the SimpleX token,
but a huge shout out to HRF and their development fund.
Their most recent round supported 20 projects worldwide.
It looks like they said a billion SATs.
So 10 Bitcoin was sent to 20 projects worldwide.
Some pretty awesome projects listed here.
And absolutely, absolutely love to see it.
Shout out to HRF.
bitcoin development fund i'm scrolling here it looks like i'm not paying attention but i am
paying attention i wanted to pull this up while we're talking about
need for tokens like particularly on like the web 3.0 thing i saw this from cali earlier this
week i just thought this was really cool um he was highlighting how simple cashew is just the
entire spec for the 402 protocol for selling api access through cashew tokens and it's literally
like 15 lines of text
with code included
or something like that. There's beauty in simplicity.
You don't have to complicate things.
It's over by pay
grade to be able to audit the system, but I trust
that it works
the way in which it's supposed to, and it looks
incredibly simple.
You want to be able to monetize content.
Yeah, really fucking cool.
Yeah.
I thought this was cool.
um you've got a hard stop in 10 let's talk about replicator
well first real quick fountain formally announced that they're releasing their podcast uh their app
for podcasters so now they're not just an app where you can listen to podcasts and support
podcasts and comment on podcasts um but now they're also a podcast host where you can host
your podcast with them.
I believe Marty's hosting TFTC with them.
We're together hosting RHR with them.
It's been a really great experience.
We've basically been testing it.
I'm not hosting Sill Dispatch with them.
I'm hosting Sill Dispatch with a awesome small company called Podhome.
That's also very much focused on podcasting 2.0.
But this seems awesome.
So if you're currently hosting your podcast with Spotify or some other inferior host, consider checking it out.
They have Noster integration.
They have Lightning integration.
They have video integration.
And the UX is phenomenal.
Paid subscriptions.
You can get RHR ad-free, pay with Bitcoin.
Pretty cool.
Yeah.
And from like the podcast perspective, just the amount of data dashboards,
they track your revenue, obviously track your audience,
your episode downloads, but I've been on Libsyn.
I've been on Anchor and now I can confidently say that from an all around
feature set, this is the best platform that I've used.
I think being able to create paid subscriptions that get people early access,
add free access um video compatible it's completely video compatible too so if you want to
upload videos to it make sure that people on spotify can watch the video if you're doing a
video podcast it just works so highly recommend it shout out to oscar nick and team there at oscar
for getting this out they've been shipping a lot this year i'd love to see it i'd love to see it
yeah i mean the consumer side app too for listening has gotten so much better
and I love just the integration with Nostra.
Open protocols for the win.
You do not need to shitcoin.
And then last but not least, Replicators here,
which is a new Nostra project,
which I just thought was cool.
It's just the idea of replicating data
between relays on the fly if you're switching relays
and and a third party can do it so like if you're like you change on your profile you're like now
my posts are going to be on this relay instead of this relay uh the third party can automatically just
swap over your data from those two relays well not you're not swapping the data you're copying
the data to the to the new relay which is cool simple um i think this came out of sovereign
engineering uh the madera incubator type thing going on over there with gg and pablo and others
github's uh associated with coracle so it's official coracle sub project well this is it's
because it's halibod um yeah but i either halibod was at sovereign engineering or he heard a
conversation from sovereign engineering that inspired it.
But Hadobop, another open source developer legend,
really cool that he can work on open source full time,
proudly support him at OpenSats.
Last but not least, token 1031 shill of the episode,
our partner at the firm, Jonathan Kirkwood,
wrote an article on digital industrialization,
labor land labor and capital again to the end of the episode i can't speak um i just thought this
was really good highlighting the uh transition that we made and we're making in three different
facets you have land labor and capital land stores went from physical storefronts where
location location location was key internet comes boom your storefront is nowhere and everywhere
all at once with e-com labor we're beginning to see that with the emergence of artificial
intelligence you can do more with less much cheaper the nature of labor seems to be changing
in real time i've seen this up close and personal so is matt matt did you make that
1031 ai video that was just posted yeah what'd you do that with um sora yeah how much that cost
you like five bucks you like that that was like the the that was the second one it got a lot better
from the first one yeah but that was cheap right you know yeah super cheap it was but i mean it's
like the 200 monthly subscription or whatever yeah um so labor transforming obviously matt made a
high quality production on the go and then capital i saw i saw marty marty's uh marty's ai videos and
i got curious it's fun it's uh it's my buddy my buddy from high school i've been doing out with
him hell yeah the only guy the only guy from high school that listened to me about bitcoin
i love i love those guys yeah i have a few of them as well a true ride or die
and then obviously the last part of that triforce is capital digital capital
going from fiat currency owned by
governments and central banks to the open source digital scarce capital that will be money
that is money already in Bitcoin.
It's a good piece.
Give it a read.
Check it out.
You've got to run here.
We've got two minutes.
Anything you want to say?
I've got a baby in the background here now.
I've got the baby in the room.
It's the way.
I have more children.
I have more children freaks.
Raise strong families.
You hear that, baby?
You hear that?
Let's make sure Bitcoin is the best money possible for them.
Let's do it.
All right.
that's all we got this week freaks peace and love
you're not gonna do it