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like safe haven. I believe that in a world where central bankers are tripping over themselves to

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devalue their currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor.

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I mean, that's part of the bull case for Bitcoin. If you're not paying attention,

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you probably should be.

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Doggy, our pet's heads are falling off. Trump not happy with China. Rare earth metal.

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tariffs coming

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markets crashing

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we're here on a Friday afternoon

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are you just dropping keywords

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is that just for the outgo

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yes pick it up

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pick it up with the transcript

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Charlie

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I um

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dude too soon that's fucked up

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um

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I can't believe that was only four weeks ago

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yeah

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what was the title of last week's episode

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uh

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It aged really poorly.

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No, the real title.

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The real title?

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Was it Bitcoin is going much higher?

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Yeah, we've only gone down since that title.

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I think it was Bitcoin is going much higher.

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Hey, hey, timescales, timescales, low time preference.

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It is going much higher.

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Maybe not this week.

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I agree.

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Definitely over the long run.

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I opened up Fountain yesterday,

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and I just laughed when I read the title.

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I was like, oops.

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Yeah, rabbit hole recap.

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377.

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We're on 378 now.

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377.

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Bitcoin is going much higher.

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What did you call it this week?

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What are we running with?

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Bitcoiner wins Nobel Peace Prize.

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Who won?

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Did you catch this?

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No.

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They gave it to me?

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It is, I don't want to butcher her name.

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Maria Mikado.

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I think was her name.

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Let me double check.

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Maria Corina Mercado.

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She's a Venezuelan opposition leader

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and

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loves the coin.

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Big fan of the coin.

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Alex Gladstein interviewed her last year.

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Love that.

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On a podcast. It exists out there.

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You can go find it.

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I don't have a handy link for you.

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This is a trade-off I'll take.

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A nice little correction dump.

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But a coiner wins Nobel Peace Prize.

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Take your wins where you can get them.

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The first of many.

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We're going to start sweeping that shit.

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It's just going to be Bitcoiner after Bitcoiner.

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It's inevitable.

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Everybody's going to be a Bitcoiner

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by the end of the next decade.

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You're going to have Bitcoin and Nobel Peace Prize winners

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every year.

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Let's start off.

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Let's go to Clark's dashboard.

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Let's get out of the way.

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We're talking about the price dumping.

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It's going to be a tight rip this week, freaks.

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Tight rip.

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The Nashville crew had a busy week.

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We'll talk about it.

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Yeah.

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Guys, hold on to your butts.

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The current price of Bitcoin is only $117,840.

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Oh my god, the world is falling.

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Sats are on sale.

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One cuck buck is going to get you $849 sats.

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We're at a $2.35 trillion market cap.

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We're currently at block height 918,469, which means we are 827 blocks away from the next difficulty adjustment.

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I recall last week when we read this, it was looking like a negative 10% adjustment.

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Blocks have sped up a little bit since then.

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Looks like the next adjustment is going to be on October 6th, the next Thursday.

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October 16th, excuse me.

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It's looking like a negative 7.1% adjustment right now.

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block's been coming in at 10 minutes 45 seconds on average there are currently 309 excuse me 3,946

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transactions in clark's mempool if i pull up mempool.space uh there are 49 497 transactions

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in that mempool mempool is not empty you need to attach a five sat per vbyte transaction fee if you

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want to get to the next block four sats per vbyte if you're willing to wait a little bit

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And if you're willing to wait over a day,

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one sat per V-byte should work.

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But I would imagine you don't even have to wait that long.

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Yeah, it's going to be less than a day, bro.

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Yeah.

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Interesting guess.

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I just sat down with Vince Lancey, VBL's ghost, on Twitter.

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I've been following him for years.

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He's a gold bug.

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Does he have any coin?

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He does have coin.

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He likes the coin.

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We like our gold bugs here.

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We like our gold bucks.

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But he had a...

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I mean, this has been an ongoing conversation

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that we've been having on this show

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as it pertains to mempools specifically.

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And I really like this framing

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towards the end of the conversation.

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Not too many spoilers here,

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but all Bitcoin needs to do is survive.

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And even if people aren't using it in the meantime,

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it just needs to survive and be there

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and take advantage of a moment

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when it's ready to shine.

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And just because mempools are empty and people aren't using it now, just the fact that it's surviving is a good thing.

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Survive until the opportune time to release thrust on the market is how he framed it.

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I thought that was interesting.

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He was using gold as an example, particularly.

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We talked about the gold on warrants at the Shanghai Exchange.

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And he said that's a perfect example of it.

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China had the gold.

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It was in the Shanghai Exchange.

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and when the opportune time arose to sort of throw a wrench

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in the dollar reserve system, they put that gold to work.

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I just thought that was interesting.

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I'm just, look, gold is, I do love the meme, like,

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oh, well, what if we were wrong?

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What if it was just, it turns out to be gold?

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But look, I think the gold bugs are directionally right,

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but I think ultimately

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Bitcoin is significantly better

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so we'll see how it plays out.

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You can see that

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Bitcoin's properties are better.

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Oh, I didn't realize

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I have my

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VPN on right now

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I have Obscura on

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so I'm going to turn it off real quick.

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I might disconnect momentarily.

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You're coming in nice and clear.

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Are you worried about it?

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God, we got confused all coiners in the YouTube comments.

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Once a quarter, can you guys commit to getting drunk for an RHR?

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We haven't done it in a while.

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We used to get plastered.

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And Matt goes, Nick's fan, 2834.

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I've got young kids.

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We record early in the afternoon.

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We're at 1031 now.

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We represent the fund in our investors.

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It's a little bit uncouth to get plastered.

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for an RHR, but maybe I'll start having more drinks once a while.

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I'll get better.

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We're fine before.

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Yeah, so I mean, I think that's an interesting thing to watch play out, right?

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The gold ratio.

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I mean, if you look at, I saw Stoney specifically posted it this week,

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our resident rock slinger.

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but that gold the like the price of bitcoin in gold terms we haven't hit an all-time high yet

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um and it kind of looks like it's coiling on it and obviously gold has been running like crazy

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um so if you do it in market cap terms like gold has just added trillions and trillions of dollars

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onto its market cap which is kind of astounding to watch and like basically the majority of the

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world is just completely oblivious to it maybe not capital allocators but like majority of people

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are. So I think Bitcoin follows and then supersedes, but we'll see how it plays out.

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On to our title topic, there's a couple of pieces there about Maria Mikado winning the

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Nobel Peace Prize. I see Soap Miner just zapped us 21,000 sats in our Nostra live chat. Easiest

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way to join the Nostra live chat is by searching for Primal in your favorite app store or using

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any Nostra-enabled live chat. All of our links are at rhr.tv. Soapminder says, Soapminder will

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always accept Bitcoin no matter how low it goes. And I don't think he accepts gold. That'd be quite

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impractical. I'd have to mail him gold fragments for soap. So a couple of pieces here. First off,

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here in Nashville at Bitcoin Park.

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We co-hosted the Global Bitcoin Summit with HRF.

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It was our third annual Global Bitcoin Summit.

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It's part of the reason why I'm absolutely exhausted.

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But it was a great week as usual.

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The other reason I'm absolutely exhausted

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is because my son got me sick.

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But the show must go on.

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Alex and his team at HRF do an absolute fire job.

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Global Bitcoin Summit is a small event, intimate, high signal.

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We bring activists and Bitcoin builders,

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basically all types of Freedom Tech builders,

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to Nashville, to Bitcoin Park.

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And we have a great few days.

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So I'm on the tail end of that.

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That was awesome.

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You can find out more information about HRF at hrf.org

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and Bitcoin Park at BitcoinPark.com.

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Now, on to the Nobel Peace Prize piece.

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That ties in really nicely into two polymarket topics this week.

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And as the freaks know, prediction markets are something

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we've been very excited about for a very long time.

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Failed for that hype cycle multiple times with false starts,

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but it finally seems like we are in the prediction market timeline.

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It is happening. It is all coming together.

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first off polymarket raised from uh ice not not the immigration customs informant

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the other ice uh the interest was it yeah which is the owner of nyse they raised at a nine billion

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dollar valuation um two billion dollars at a nine billion dollar valuation so a little over

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20% of that company, which is insane.

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But

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there probably is, in terms of prediction markets, it's probably going to be a winner takes most game.

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We'll see if it's actually Polymarket. On that news, Polymarket

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also added Bitcoin deposits and withdrawals. Finally, it's about

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fucking time. You can finally use the Apex digital

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money to bet on the top prediction market.

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um and then last but not least uh it predicted this nobel prize winner uh about 16 hours before

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the announcement came out and it was a single anon account that just came in and aped and big

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which has always been the thesis of prediction markets people are like oh it's insider trading

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like blah blah it's like no the whole point is that random anons can leak information and make

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bank off of it and then we can all benefit off of the information like that is like the

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you know the the key fundamental of what makes prediction markets incredibly intriguing in terms

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of accurately predicting future events is that it's using market forces to incentivize information

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leak so i thought that was pretty fucking i think this is the first time we've really seen that you

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know obviously prediction markets like there's market dynamics of predicting things that have

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00:14:18,520 --> 00:14:21,720
a lot of external information and people analyzing them, stuff like

247
00:14:21,720 --> 00:14:26,340
predicted the election win early. But that wasn't really insider information.

248
00:14:27,540 --> 00:14:30,600
One of the coolest aspects about prediction markets is

249
00:14:30,600 --> 00:14:34,040
you have a small group of people that know about something and

250
00:14:34,040 --> 00:14:38,200
there's a game theory Mexican standoff. It's like, who's going to make the Anon

251
00:14:38,200 --> 00:14:40,500
account and make bank off of Polymarket first?

252
00:14:42,480 --> 00:14:46,080
And I saw the 1031 intern was tweeting

253
00:14:46,080 --> 00:14:52,160
are people saying that anon shouldn't be allowed on polymarket yeah they're like saying that it's

254
00:14:52,160 --> 00:14:58,100
like insider trading that there shouldn't be anon accounts i would the prediction market that is

255
00:14:58,100 --> 00:15:03,180
going to be winner takes the one that's going to be the most liquid and the most effective is going

256
00:15:03,180 --> 00:15:09,040
to be the one that allows anon accounts you absolutely need it because you need to be able to

257
00:15:09,040 --> 00:15:15,700
you need to be able to uh you won't have an efficient market unless people can do it anonymously

258
00:15:15,700 --> 00:15:21,240
and not risk external repercussions for trading on information that is not known.

259
00:15:21,240 --> 00:15:22,740
Yeah.

260
00:15:24,180 --> 00:15:27,540
Let the anons flourish.

261
00:15:27,540 --> 00:15:44,032
Well I wonder with ICE the International Commodities Exchange stepping in as a large investor do you think Polymarket gets cupped with KYC Yeah I think that why it super interesting because they might ruin it They might ruin their lead There a decent shot

262
00:15:45,072 --> 00:15:47,472
Also, the way it's built is very decentralized

263
00:15:47,472 --> 00:15:51,612
and name only, as is the case with a lot

264
00:15:51,612 --> 00:15:52,452
of altcoin stuff.

265
00:15:55,152 --> 00:15:59,412
The argument that has been made up until this point is that, oh, we have no control over it.

266
00:15:59,412 --> 00:16:06,112
you know, this is a self-custody smart contract protocol where we're not actually taking custody

267
00:16:06,112 --> 00:16:13,072
of funds and we can't control the markets. I think that argument is, you know, loose at best

268
00:16:13,072 --> 00:16:17,552
in courts. This is how it plays out. But the other piece is like, if you're sitting on a,

269
00:16:18,092 --> 00:16:23,952
if you spend $2 billion on an asset, people tend to overcomply in those types of situations,

270
00:16:24,052 --> 00:16:26,912
right? They try and reduce risk and they can end up shooting themselves in the foot.

271
00:16:26,912 --> 00:16:29,872
so yeah if anyone

272
00:16:29,872 --> 00:16:30,732
yeah go on

273
00:16:30,732 --> 00:16:33,792
intercontinental exchange not international

274
00:16:33,792 --> 00:16:34,672
what did we say commodity

275
00:16:34,672 --> 00:16:37,132
intercontinental exchange

276
00:16:37,132 --> 00:16:39,792
but the important part is that it's the parent

277
00:16:39,792 --> 00:16:41,892
company of NYSC and it's

278
00:16:41,892 --> 00:16:43,592
not customs enforcement

279
00:16:43,592 --> 00:16:47,312
so we nailed those two

280
00:16:47,312 --> 00:16:49,712
what if immigration is a custom enforcement

281
00:16:49,712 --> 00:16:51,712
it was like you know what we need to diversify away

282
00:16:51,712 --> 00:16:52,792
from security

283
00:16:52,792 --> 00:16:53,752
they bought Polymarket

284
00:16:53,752 --> 00:17:02,552
but yeah the anonymous part is the and you know like people like to go to extremes or whatever but

285
00:17:02,552 --> 00:17:08,932
the extreme people in the early days of prediction markets went with was assassination markets

286
00:17:08,932 --> 00:17:15,432
yeah and the idea was like if someone if someone knew that like a gang was going to try and

287
00:17:15,432 --> 00:17:19,192
assassinate someone or terrorists are going to assassinate someone all it takes is one of those

288
00:17:19,192 --> 00:17:23,012
terrorists to be willing to anonymously bet on it to make bank.

289
00:17:23,492 --> 00:17:25,552
And then you would get an advanced notice of it ahead of time.

290
00:17:26,772 --> 00:17:28,392
And like, so that's an extreme.

291
00:17:28,612 --> 00:17:32,752
And there's obviously a bunch of, you know,

292
00:17:33,792 --> 00:17:36,972
less extreme cases where you have insider information,

293
00:17:36,972 --> 00:17:40,352
but in a free market, like there just is no insider information.

294
00:17:40,912 --> 00:17:43,352
It's just more information that hasn't been traded on yet.

295
00:17:44,072 --> 00:17:45,812
And if you want this to be interesting,

296
00:17:45,812 --> 00:17:48,072
if you want this to actually be helpful for the world,

297
00:17:48,072 --> 00:17:49,512
you need to have anonymous accounts.

298
00:17:50,492 --> 00:17:52,832
And it should be interesting because I bet you it's going to become,

299
00:17:53,232 --> 00:17:55,712
I'm calling it here first,

300
00:17:55,792 --> 00:17:58,572
it's going to become more and more of a talking point

301
00:17:58,572 --> 00:18:01,272
in terms of Polymarket if they continue to find success.

302
00:18:02,372 --> 00:18:05,912
Yeah, I think they're definitely going to get a KYC route, get cucked.

303
00:18:06,152 --> 00:18:09,292
It will be like what we saw with altcoin exchanges

304
00:18:09,292 --> 00:18:12,392
in the 2015 to 2021 era.

305
00:18:12,392 --> 00:18:15,892
One will get shut down or completely cucked and another will pop.

306
00:18:15,892 --> 00:18:18,732
Well, they do have the dyno aspect.

307
00:18:19,012 --> 00:18:23,712
I haven't gone fully into it because I'm not trying to read six shitcoin white papers.

308
00:18:24,512 --> 00:18:26,592
But there's smart contracts involved and stuff.

309
00:18:26,832 --> 00:18:28,892
So I could see the main front end.

310
00:18:29,552 --> 00:18:33,172
Look, the majority of people that are trading on this thing are probably doing it with bank accounts and stuff.

311
00:18:33,932 --> 00:18:36,932
So they're already bagged and tagged.

312
00:18:37,712 --> 00:18:43,712
I think as long as there is a way for power users, if it's a little bit more friction,

313
00:18:43,712 --> 00:18:48,892
But if there's a way for power users to still bet on these markets anonymously, that should be enough.

314
00:18:49,672 --> 00:18:51,712
But if they completely close all the doors...

315
00:18:52,612 --> 00:18:56,612
So my guess is it's probably actually, at least in the short to medium term, will be something in the middle.

316
00:18:57,152 --> 00:19:04,552
Where the majority of users are KYC'd, but there's the ability for people to go inside.

317
00:19:04,652 --> 00:19:05,552
And it has to be in size.

318
00:19:05,952 --> 00:19:09,292
It can't be a path where someone can only bet $5,000.

319
00:19:09,292 --> 00:19:13,312
Someone needs to be able to put a half a million dollars on insider information

320
00:19:13,312 --> 00:19:15,872
for these things to be really accurate and honest.

321
00:19:15,892 --> 00:19:17,552
Well, we saw this, and I don't think it was off,

322
00:19:17,892 --> 00:19:19,512
or it wasn't off insider information.

323
00:19:19,672 --> 00:19:20,032
It came out.

324
00:19:20,092 --> 00:19:21,032
There's two points here.

325
00:19:21,292 --> 00:19:23,652
The French guy who went in big on Trump,

326
00:19:24,012 --> 00:19:26,972
basically he was scraping cement and pulling data.

327
00:19:27,492 --> 00:19:31,352
I think his size was like $28 million or something like that.

328
00:19:31,912 --> 00:19:33,052
Yeah, but we knew who he was.

329
00:19:33,572 --> 00:19:33,812
Yeah.

330
00:19:34,412 --> 00:19:34,612
Yeah.

331
00:19:34,972 --> 00:19:35,252
Yeah.

332
00:19:35,252 --> 00:19:49,632
But to that point, too, I think, just doing a retrospective, there were many people who thought polymarket and prediction markets specifically wouldn't gain popularity outside of election cycles.

333
00:19:50,152 --> 00:19:50,792
Everybody thought.

334
00:19:50,812 --> 00:19:52,272
Yeah, that was always the big use case.

335
00:19:52,992 --> 00:19:53,172
Yeah.

336
00:19:53,472 --> 00:20:00,872
Everybody was convinced that polymarket was going to have its 15 minutes of fame around the election and then die out.

337
00:20:00,872 --> 00:20:03,752
And I think, objectively, that's proven not to be the case.

338
00:20:03,752 --> 00:20:08,392
I mean, the crazy part was less than a year ago, he had his apartment.

339
00:20:08,572 --> 00:20:09,992
The founder had his apartment raided.

340
00:20:10,692 --> 00:20:11,752
It was like...

341
00:20:11,752 --> 00:20:12,712
I forgot about that.

342
00:20:13,692 --> 00:20:17,092
From gulags to billionaire in record time.

343
00:20:17,332 --> 00:20:18,952
It's like eight months, nine months.

344
00:20:20,192 --> 00:20:21,732
Which is pretty impressive.

345
00:20:22,452 --> 00:20:25,132
I mean, that's just awesome.

346
00:20:25,292 --> 00:20:27,632
That's just pretty fucking cool on his part.

347
00:20:27,712 --> 00:20:28,152
What's his name?

348
00:20:28,252 --> 00:20:28,912
Shane something.

349
00:20:29,892 --> 00:20:31,792
Shane Coiner?

350
00:20:31,792 --> 00:20:32,652
Let me see.

351
00:20:32,752 --> 00:20:33,412
I just said that.

352
00:20:33,752 --> 00:20:41,792
And, uh, I mean, there was a lot of investors he, he, he posts like after the fact, just,

353
00:20:41,952 --> 00:20:45,912
I think today or yesterday, he announced that there was a couple of quiet rounds that happened

354
00:20:45,912 --> 00:20:50,272
during that period. So like shout out to the investors who were willing to take a risk on him

355
00:20:50,272 --> 00:20:57,652
while he was like 10 steps away from a gulag. Um, but like on that, on that French guys thing,

356
00:20:57,652 --> 00:21:03,692
right. You know, the, the, it's an interesting thought process to go down in a free market world,

357
00:21:03,692 --> 00:21:06,652
what is insider information and what isn't insider information.

358
00:21:07,832 --> 00:21:08,012
Right?

359
00:21:08,212 --> 00:21:16,352
Because presumably, I think there's an interesting philosophical argument to be had about there

360
00:21:16,352 --> 00:21:17,672
not being insider information.

361
00:21:18,672 --> 00:21:21,212
And it's just information that hasn't been traded on yet.

362
00:21:22,372 --> 00:21:28,332
And in the case, I think on the legal side, there's a case that's like, if you're public

363
00:21:28,332 --> 00:21:35,032
officers and you have a fiduciary duty to your shareholders, then maybe that's where there's

364
00:21:35,032 --> 00:21:39,432
insider information, right? Because it's a predatory relationship. You're breaking that

365
00:21:39,432 --> 00:21:43,112
fiduciary responsibility you have with your shareholders and you're trading on it ahead of

366
00:21:43,112 --> 00:21:49,812
time. But if shareholders aren't involved and you're trading on open markets, prediction markets

367
00:21:49,812 --> 00:21:54,392
that are about external events, I just don't think there's actually insider information.

368
00:21:54,532 --> 00:21:58,212
There's just things that haven't been traded on. But anyway, to my point, I'm that French guy that

369
00:21:58,212 --> 00:22:04,332
did 28 million. What's really interesting there, right. Is like, who has ever historically in

370
00:22:04,332 --> 00:22:11,672
elections, who has been, who has the incentive to do polls? It's the politicians. Um, it's the

371
00:22:11,672 --> 00:22:15,312
people that maybe are, you know, buying the politicians off or supporting them in the

372
00:22:15,312 --> 00:22:21,232
background. And then there's media outlets that want clicks. Um, but now there's like a whole

373
00:22:21,232 --> 00:22:28,152
underground analysis industry that's kind of popping up that like, if you can do quiet polling,

374
00:22:28,212 --> 00:22:30,172
that you're not publicly releasing

375
00:22:30,172 --> 00:22:34,372
and getting better data than anyone else,

376
00:22:34,472 --> 00:22:35,732
all of a sudden there's an incentive

377
00:22:35,732 --> 00:22:38,352
for having really, really strong private polling

378
00:22:38,352 --> 00:22:39,752
because then you can trade on it

379
00:22:39,752 --> 00:22:42,532
before the rest of the market realizes it.

380
00:22:43,232 --> 00:22:44,452
Yeah, I forgot that part.

381
00:22:44,592 --> 00:22:45,812
That's what he was doing, right?

382
00:22:45,952 --> 00:22:47,692
He was sending emails to random people.

383
00:22:50,192 --> 00:22:52,332
He was doing the polling himself, actually.

384
00:22:54,332 --> 00:22:55,952
Yeah, pretty fucking cool.

385
00:22:56,692 --> 00:22:57,252
It is cool.

386
00:22:58,212 --> 00:22:59,272
I love this shit.

387
00:23:02,392 --> 00:23:09,732
There's this new prediction market that I discovered called Predix, P-R-E-D-Y-X.com.

388
00:23:10,232 --> 00:23:11,512
Horrible name, guys.

389
00:23:12,032 --> 00:23:13,412
But that's a Lightning native.

390
00:23:14,212 --> 00:23:15,452
It doesn't have that much liquidity.

391
00:23:16,372 --> 00:23:20,432
But I'm so happy that Polymarket, the most liquid one, added Bitcoin finally.

392
00:23:21,112 --> 00:23:24,032
That's how it was always supposed to be.

393
00:23:24,852 --> 00:23:24,992
Yeah.

394
00:23:26,352 --> 00:23:27,232
Come on.

395
00:23:27,232 --> 00:23:28,832
Polymarket, great name.

396
00:23:29,492 --> 00:23:30,872
Kalshi, okay name.

397
00:23:31,192 --> 00:23:33,472
Kalshi, they're going to go the Uber, Google route.

398
00:23:33,752 --> 00:23:35,892
Predix with a YX, terrible name.

399
00:23:36,752 --> 00:23:37,912
You got to say it every time.

400
00:23:38,472 --> 00:23:39,652
Predix with a YX.

401
00:23:39,832 --> 00:23:44,452
If you have to say the caveat, you're fucked up, guys.

402
00:23:45,332 --> 00:23:49,752
You're not going to get a $9 billion valuation.

403
00:23:50,312 --> 00:23:52,532
It's a really cool interface, Predix.

404
00:23:52,532 --> 00:23:56,132
you can sign in with a

405
00:23:56,132 --> 00:23:57,472
oh did I fuck it up?

406
00:23:57,732 --> 00:23:58,572
it's not Predix

407
00:23:58,572 --> 00:24:01,112
did I spell it wrong?

408
00:24:01,852 --> 00:24:02,552
no I see it

409
00:24:02,552 --> 00:24:04,812
beta.predix.com

410
00:24:04,812 --> 00:24:07,312
oh but if you just go to

411
00:24:07,312 --> 00:24:09,512
predix.com it gives you a weird login

412
00:24:09,512 --> 00:24:12,512
if you go to beta.predix.com

413
00:24:12,512 --> 00:24:13,812
I know but if you just do

414
00:24:13,812 --> 00:24:15,472
but if you just do

415
00:24:15,472 --> 00:24:18,332
predix.com it doesn't actually go to the beta site

416
00:24:18,332 --> 00:24:19,632
that's stupid

417
00:24:19,632 --> 00:24:22,052
it just goes to an email and password

418
00:24:22,052 --> 00:24:23,092
or login form.

419
00:24:23,832 --> 00:24:24,472
I like the bread.

420
00:24:25,472 --> 00:24:26,012
I like the bread.

421
00:24:26,012 --> 00:24:28,812
Beta.predix.com with a YX.

422
00:24:29,332 --> 00:24:30,352
The interface is great.

423
00:24:30,432 --> 00:24:31,432
You can sign in with Lightning.

424
00:24:33,012 --> 00:24:35,192
They have some interesting Bitcoin markets.

425
00:24:36,652 --> 00:24:38,852
They had a bunch of stuff around Core V30

426
00:24:38,852 --> 00:24:43,992
that obviously is actually more liquid

427
00:24:43,992 --> 00:24:45,432
than Polymarket in that front

428
00:24:45,432 --> 00:24:46,992
because it's just something that

429
00:24:46,992 --> 00:24:50,232
a tiny subset of Bitcoiners actually care about.

430
00:24:52,052 --> 00:24:52,792
It's pretty cool.

431
00:24:52,872 --> 00:24:53,492
Play around with it.

432
00:24:53,532 --> 00:24:54,352
You can sign with Lightning.

433
00:24:54,632 --> 00:24:56,852
You can do Lightning deposits, Lightning withdrawals.

434
00:24:57,132 --> 00:24:59,532
It doesn't seem like it's quote-unquote decentralized.

435
00:24:59,912 --> 00:25:01,612
I think it's just a custodial Lightning wallet.

436
00:25:05,632 --> 00:25:06,272
Pretty cool.

437
00:25:06,272 --> 00:25:06,812
Pretty cool.

438
00:25:08,232 --> 00:25:09,132
It's really cool.

439
00:25:11,712 --> 00:25:13,052
I've never used Polymarket.

440
00:25:13,252 --> 00:25:13,492
Have you?

441
00:25:14,512 --> 00:25:16,152
No, because they didn't accept Bitcoin.

442
00:25:16,292 --> 00:25:17,732
I tried to bet on the election.

443
00:25:17,732 --> 00:25:24,692
and then I was just like, do you have Polygon or this or that?

444
00:25:24,772 --> 00:25:25,992
I was like, no, fuck you.

445
00:25:30,232 --> 00:25:31,432
Prediction markets are here.

446
00:25:31,892 --> 00:25:33,032
They got angry about it.

447
00:25:34,012 --> 00:25:35,712
It's a fascinating time.

448
00:25:36,852 --> 00:25:42,392
I see Goulet in the primal comments saying,

449
00:25:42,692 --> 00:25:45,112
Shane is now officially the youngest self-made billionaire.

450
00:25:45,272 --> 00:25:46,152
I want to be clear here.

451
00:25:46,152 --> 00:25:54,072
That is the most retarded headline because there have been younger people that have been self-made billionaires in the past.

452
00:25:54,472 --> 00:25:56,892
He's just the youngest current one.

453
00:25:57,872 --> 00:25:59,152
He's like 27 or 28.

454
00:25:59,212 --> 00:25:59,932
It's still impressive.

455
00:26:00,272 --> 00:26:06,132
It's still super impressive, but it's such an asterisk of a headline, youngest self-made billionaire.

456
00:26:06,392 --> 00:26:08,532
But it's because Mark Zuckerberg's older and shit.

457
00:26:09,592 --> 00:26:12,092
I think most people don't realize that.

458
00:26:12,872 --> 00:26:15,292
It's wordsmithing.

459
00:26:16,152 --> 00:26:27,272
Yeah. I mean, look, it's just, it's incredibly impressive that he like launched this thing in his bathroom during COVID as a solo founder, just like all on his own.

460
00:26:28,492 --> 00:26:35,032
And then made it to, you know, massive billionaire status in a few years is super impressive itself.

461
00:26:35,032 --> 00:26:36,492
Like you don't have to like make up.

462
00:26:38,032 --> 00:26:38,932
Just a humble picture.

463
00:26:38,932 --> 00:26:40,332
You don't have to like mislead people.

464
00:26:40,552 --> 00:26:41,412
New York City, you know.

465
00:26:41,532 --> 00:26:42,112
Yeah, right.

466
00:26:42,672 --> 00:26:44,572
Super, super humble.

467
00:26:44,572 --> 00:26:50,972
Predix has Luke Dasher hard forks

468
00:26:50,972 --> 00:26:53,112
to save Bitcoin at 29% right now.

469
00:26:54,752 --> 00:26:55,032
Ooh.

470
00:26:57,832 --> 00:26:59,152
I would take that.

471
00:27:00,312 --> 00:27:00,692
What do you think?

472
00:27:00,772 --> 00:27:03,032
Yeah, so that's October 10th.

473
00:27:04,212 --> 00:27:07,532
Core version 30 has been released.

474
00:27:07,672 --> 00:27:08,372
Is Bitcoin dead?

475
00:27:09,672 --> 00:27:10,952
According to Men's World About Space,

476
00:27:10,952 --> 00:27:14,652
block was produced 11 minutes ago.

477
00:27:16,312 --> 00:27:18,672
As I said many times in the past,

478
00:27:19,172 --> 00:27:20,292
even before all this drama,

479
00:27:20,472 --> 00:27:23,032
you shouldn't just immediately rush to update the latest version.

480
00:27:24,132 --> 00:27:26,892
So I have no intention of updating

481
00:27:26,892 --> 00:27:29,792
pretty much anytime soon.

482
00:27:29,792 --> 00:27:32,072
Let's see how it all plays out.

483
00:27:33,492 --> 00:27:37,672
One of the cool things that the core maintainers do

484
00:27:37,672 --> 00:27:42,072
is that they maintain security patches for the last three.

485
00:27:43,292 --> 00:27:48,892
So 29 will stop being updated only after 33 gets released,

486
00:27:50,212 --> 00:27:51,652
which I think is pretty awesome.

487
00:27:52,272 --> 00:27:56,392
And it just goes to show that they also don't think

488
00:27:56,392 --> 00:27:58,532
you should be rushing to new releases.

489
00:27:59,772 --> 00:28:03,152
And to me, the concern is the things

490
00:28:03,152 --> 00:28:04,392
that you're not even thinking about.

491
00:28:04,392 --> 00:28:08,512
like maybe there's

492
00:28:08,512 --> 00:28:12,392
you know even you know there's so much distraction about the

493
00:28:12,392 --> 00:28:16,352
op return relay rules being relaxed that like something else

494
00:28:16,352 --> 00:28:20,372
slipped through or something like that well on that note I recorded

495
00:28:20,372 --> 00:28:24,632
with Insta Gibbs yesterday to go over this we talked about

496
00:28:24,632 --> 00:28:25,832
the later version

497
00:28:25,832 --> 00:28:31,292
he's actually he was on the live stream that we did a bit

498
00:28:31,292 --> 00:28:33,592
BTC++ in May.

499
00:28:34,592 --> 00:28:36,912
And I asked him, I was like, what do you think about all this?

500
00:28:36,912 --> 00:28:40,692
He's like, honestly, after that conference, I just started focusing on other things in core

501
00:28:40,692 --> 00:28:43,792
because it came clear to him that there was not going to be

502
00:28:43,792 --> 00:28:47,372
a resolution on the op-return drama.

503
00:28:47,632 --> 00:28:52,092
And so we did talk about op-return, how things get implemented

504
00:28:52,092 --> 00:28:55,972
at core, what are the trade-offs, but we mainly focused on the other stuff

505
00:28:55,972 --> 00:28:58,432
included in v30

506
00:28:58,432 --> 00:29:01,752
as it pertains to IBD.

507
00:29:03,132 --> 00:29:04,552
I look forward to listening to it.

508
00:29:07,252 --> 00:29:08,452
That'll be out next week.

509
00:29:08,452 --> 00:29:11,952
I thought Antoine did a great episode recently

510
00:29:11,952 --> 00:29:14,872
with Danny on what Bitcoin did too.

511
00:29:17,232 --> 00:29:19,232
If you want the core dev perspective.

512
00:29:22,412 --> 00:29:24,352
The sky isn't falling.

513
00:29:24,352 --> 00:29:30,692
the people that are like trying to scare you into just changing what software you run

514
00:29:30,692 --> 00:29:36,612
um are on the wrong side of history here in my humble opinion um and you can rage at me

515
00:29:36,612 --> 00:29:42,032
all you want about it yeah we said it two weeks ago i think we're gonna look back a year from now

516
00:29:42,032 --> 00:29:47,572
and find that uh it was relatively inconsequential could be wrong

517
00:29:47,572 --> 00:29:53,572
i will eat crow if i if i am wrong but i don't know having been around the block for a while

518
00:29:53,572 --> 00:29:55,572
it's the way it seems to be

519
00:29:55,572 --> 00:29:57,172
um

520
00:29:57,172 --> 00:29:59,452
alright we got no list so we're just riffing here

521
00:29:59,452 --> 00:30:01,192
uh I've got something I

522
00:30:01,192 --> 00:30:02,452
can pull up

523
00:30:02,452 --> 00:30:03,712
uh

524
00:30:03,712 --> 00:30:06,712
obviously gold's ripping

525
00:30:06,712 --> 00:30:09,412
bitcoin's ripping the debasement trade

526
00:30:09,412 --> 00:30:10,072
has become

527
00:30:10,072 --> 00:30:13,132
sort of popular meme

528
00:30:13,132 --> 00:30:15,552
in wall street you have Goldman Sachs

529
00:30:15,552 --> 00:30:16,432
JP Morgan

530
00:30:16,432 --> 00:30:18,952
Mohammed Al

531
00:30:18,952 --> 00:30:20,672
Irane talking about it

532
00:30:20,672 --> 00:30:22,652
I think we touched on this lightly last week but

533
00:30:22,652 --> 00:30:25,412
But people in tech still don't get this.

534
00:30:25,532 --> 00:30:28,472
This guy, Nikita Beer, who joined Twitter recently,

535
00:30:28,752 --> 00:30:29,472
helped him on UX.

536
00:30:29,552 --> 00:30:32,372
He tweeted out yesterday that gold and Bitcoin is acting

537
00:30:32,372 --> 00:30:34,232
like we're about to enter a period of hyperinflation,

538
00:30:34,312 --> 00:30:36,872
but no one realizes that AI is deflationary.

539
00:30:36,872 --> 00:30:41,872
It is hilarious to me.

540
00:30:42,692 --> 00:30:46,572
From what I understand, I've seen this guy on X and Twitter

541
00:30:46,572 --> 00:30:47,492
and followed him.

542
00:30:48,032 --> 00:30:48,592
Do I follow him?

543
00:30:48,632 --> 00:30:49,312
I don't follow him.

544
00:30:50,252 --> 00:30:51,752
We still got a rich man.

545
00:30:51,752 --> 00:30:55,992
he's very often retweeted. But these people in Silicon Valley,

546
00:30:56,232 --> 00:31:00,232
it's like... But no one realizes that AI is deflationary.

547
00:31:00,352 --> 00:31:03,732
It's like all tech is deflationary. It has been for

548
00:31:03,732 --> 00:31:07,352
all human history. TVs are cheaper.

549
00:31:07,772 --> 00:31:18,424
We streaming over the internet now If you tried to do this only 10 years ago it would not work the way it is It cheaper It faster And despite this tech deflation

550
00:31:19,064 --> 00:31:19,964
prices are rising.

551
00:31:20,524 --> 00:31:24,244
Because no matter how much you make technology

552
00:31:24,244 --> 00:31:26,164
more productive and more efficient

553
00:31:26,164 --> 00:31:28,764
and lean into Jevons Paradox,

554
00:31:28,884 --> 00:31:31,384
it cannot combat the ills of the money printer.

555
00:31:31,384 --> 00:31:37,344
You can have incredible orders of magnitude

556
00:31:37,344 --> 00:31:40,784
increases in tech efficiency and productivity,

557
00:31:41,124 --> 00:31:44,624
but as long as the government is issuing debt and printing money,

558
00:31:45,324 --> 00:31:46,644
costs are still going to rise.

559
00:31:47,444 --> 00:31:51,304
People ingrained in Silicon Valley still don't understand this.

560
00:31:51,544 --> 00:31:52,124
We need a pair.

561
00:31:52,184 --> 00:31:55,044
They just fucked up the money so bad

562
00:31:55,044 --> 00:31:58,544
that it still can't counteract it.

563
00:31:58,904 --> 00:31:59,424
No.

564
00:32:01,264 --> 00:32:04,564
I probably won't be able to find it

565
00:32:04,564 --> 00:32:08,484
off with a quick search, but I'm sure you've all seen

566
00:32:08,484 --> 00:32:12,564
the chart of different changes in prices over time.

567
00:32:12,884 --> 00:32:16,124
And you have education,

568
00:32:16,464 --> 00:32:20,424
healthcare, food, electricity, housing, all up

569
00:32:20,424 --> 00:32:24,364
and to the right increasingly. And then going down, it's like TVs, computers,

570
00:32:27,304 --> 00:32:30,544
other technology

571
00:32:30,544 --> 00:32:34,304
things going down and to the right. And yes, the

572
00:32:34,304 --> 00:32:39,984
prices for these things are falling the cost to do them but the money printing is so overwhelming

573
00:32:39,984 --> 00:32:47,444
that we cannot reap the benefits of that that tech deflation that exists and is ubiquitous

574
00:32:47,444 --> 00:32:52,864
throughout our economy and that's why we need to pair this tech deflation like the optimal

575
00:32:52,864 --> 00:32:57,464
if you want the optimum benefits of this tech deflation you need to pair it with a scarce

576
00:32:57,464 --> 00:33:03,604
monetary system so that people can spend less over time as the purchasing power of their money

577
00:33:03,604 --> 00:33:04,344
is increasing.

578
00:33:06,204 --> 00:33:07,664
So I wanted to pull that up.

579
00:33:10,104 --> 00:33:11,844
Very Spencer Schiff take

580
00:33:11,844 --> 00:33:12,544
from Nikita Beer.

581
00:33:13,184 --> 00:33:14,164
Remember Spencer Schiff?

582
00:33:14,384 --> 00:33:15,804
He sold all his big money.

583
00:33:17,424 --> 00:33:18,304
Because AI is going to make

584
00:33:18,304 --> 00:33:19,364
an abundant future.

585
00:33:19,404 --> 00:33:20,024
Yeah, Peter's son.

586
00:33:21,204 --> 00:33:21,384
Yeah.

587
00:33:23,764 --> 00:33:25,784
My internet's all fucked up right now.

588
00:33:26,544 --> 00:33:27,604
I, uh...

589
00:33:28,604 --> 00:33:30,184
Can you hear me?

590
00:33:31,484 --> 00:33:33,344
Uh, yes, I can hear you.

591
00:33:33,604 --> 00:33:35,344
You should turn your VPN back on.

592
00:33:35,424 --> 00:33:36,384
It was much better when that was on.

593
00:33:38,824 --> 00:33:43,704
I think it might have been the Nostro chat that was killing me.

594
00:33:44,624 --> 00:33:45,664
I just X'd out of it.

595
00:33:47,184 --> 00:33:49,264
The more interesting thing is,

596
00:33:50,184 --> 00:33:53,644
I don't remember, when did Dorsey make his hyperinflation tweet?

597
00:33:54,504 --> 00:33:56,264
And everyone lost their fucking shit.

598
00:33:56,264 --> 00:33:58,804
I think the more interesting thing is

599
00:33:58,804 --> 00:34:02,004
normie influencer Nikita,

600
00:34:02,724 --> 00:34:06,124
tech influencer Nikita is just nonchalantly

601
00:34:06,124 --> 00:34:08,044
talking about the hyperinflation trade.

602
00:34:08,984 --> 00:34:17,424
It's just been completely normalized,

603
00:34:17,824 --> 00:34:21,604
the belief that we're entering a hyperinflationary period,

604
00:34:21,604 --> 00:34:23,564
or at least a high inflationary period.

605
00:34:24,744 --> 00:34:24,884
Yeah.

606
00:34:25,144 --> 00:34:26,364
Dorsey, October.

607
00:34:26,364 --> 00:34:29,564
almost exactly four years ago,

608
00:34:29,724 --> 00:34:30,964
four years ago in 12 days,

609
00:34:31,064 --> 00:34:32,604
hyperinflation is going to change everything.

610
00:34:32,864 --> 00:34:33,264
It's happening.

611
00:34:33,704 --> 00:34:35,484
And what was the Nikita tweet?

612
00:34:35,724 --> 00:34:37,564
The specific wording, it started with,

613
00:34:37,744 --> 00:34:39,544
it's like, oh, the timeline's all worried

614
00:34:39,544 --> 00:34:40,704
about hyperinflation now.

615
00:34:40,964 --> 00:34:43,084
And yeah, it is.

616
00:34:43,944 --> 00:34:45,824
The debasement trade is also

617
00:34:45,824 --> 00:34:49,004
just like a worse meme version

618
00:34:49,004 --> 00:34:51,084
of the term hyperinflation.

619
00:34:53,304 --> 00:34:56,304
I don't think the suits make

620
00:34:56,304 --> 00:35:01,104
the best memes. I don't know if debasement trade is going to stick. It's like kind of...

621
00:35:01,984 --> 00:35:03,744
I like it. I like it. You don't like it?

622
00:35:04,644 --> 00:35:11,224
Yeah. I mean, I'm fading that one, but it's true. It is a debasement trade. I think it's like a

623
00:35:11,224 --> 00:35:17,004
little bit reactionary of a term. It's not a positive term. It's a reaction term, right? It's

624
00:35:17,004 --> 00:35:28,044
an anti something. But yeah, we're entering an inflationary period. I think it's really,

625
00:35:28,184 --> 00:35:33,924
or we've been in one for a while. And I think it's too far, it's too far gone. There's no going

626
00:35:33,924 --> 00:35:39,144
back from it. It doesn't matter if the US government and the Fed become more responsible

627
00:35:39,144 --> 00:35:46,484
with how they manage our system. It doesn't matter if tech is deflationary and we have massive AI

628
00:35:46,484 --> 00:35:50,044
in terms of GDP growth and costs going down.

629
00:35:51,664 --> 00:35:54,564
I think the train has left the station

630
00:35:54,564 --> 00:35:56,524
and there's no stopping it.

631
00:35:57,264 --> 00:35:59,204
You should just stumble and stack stats about it.

632
00:36:00,544 --> 00:36:02,644
On that note, Logan, pull up the Parker tweet first,

633
00:36:03,164 --> 00:36:03,944
then my tweet second.

634
00:36:04,184 --> 00:36:09,344
Parker, good friend of the show, good friend of mine and Matt,

635
00:36:09,784 --> 00:36:12,524
he's been tracking the price of ribeyes

636
00:36:12,524 --> 00:36:14,284
at, I believe this is Whole Foods,

637
00:36:14,944 --> 00:36:17,004
in Austin over time.

638
00:36:17,624 --> 00:36:20,084
And since June, the price of a ribeye,

639
00:36:20,984 --> 00:36:24,524
same ribeye, same store, up 6.2% since June.

640
00:36:24,704 --> 00:36:29,264
Now 34.49, that's a 90% annualized rate of growth

641
00:36:29,264 --> 00:36:32,004
for the price of the ribeye at this store.

642
00:36:33,244 --> 00:36:35,584
So the compound annual inflation is 12.6%

643
00:36:35,584 --> 00:36:39,064
since his prior update in 2024.

644
00:36:39,064 --> 00:36:43,804
cumulative 72.5% increase since 2020.

645
00:36:44,384 --> 00:36:45,884
So it's double the price in five years.

646
00:36:46,524 --> 00:36:47,524
Bitcoin is the only way out.

647
00:36:49,004 --> 00:36:51,644
And that's the thing with these events

648
00:36:51,644 --> 00:36:54,124
is unless you're highly perceptive,

649
00:36:54,344 --> 00:36:55,524
like Matt, myself, Parker,

650
00:36:56,044 --> 00:36:57,324
others in the Bitcoin space,

651
00:36:57,564 --> 00:36:59,184
you're really not going to recognize it.

652
00:36:59,364 --> 00:37:00,284
So pull up my tweet.

653
00:37:01,184 --> 00:37:02,504
I was having a conversation,

654
00:37:02,684 --> 00:37:04,124
I forget with who this week,

655
00:37:04,124 --> 00:37:06,224
but really hearkening back to

656
00:37:06,224 --> 00:37:08,644
Weimar inflation.

657
00:37:08,904 --> 00:37:11,224
This is the change in gold price of Marks

658
00:37:11,224 --> 00:37:13,264
over a 14-year period.

659
00:37:14,264 --> 00:37:16,024
Here's the annual chart of Bitcoin

660
00:37:16,024 --> 00:37:20,044
over a 9-year period.

661
00:37:20,904 --> 00:37:21,424
I love this chart.

662
00:37:21,424 --> 00:37:23,364
I enjoy the chart, but it's so stupid.

663
00:37:27,244 --> 00:37:29,324
Just annual candles for Bitcoin

664
00:37:29,324 --> 00:37:30,464
is just...

665
00:37:30,464 --> 00:37:34,644
It's a little bit young to make it an annual chart,

666
00:37:34,644 --> 00:37:37,764
but I like how aggressive the green candles are.

667
00:37:38,904 --> 00:37:39,884
It's provocative.

668
00:37:40,124 --> 00:37:40,544
It's provocative.

669
00:37:40,904 --> 00:37:41,844
But no, that's what I'm saying.

670
00:37:41,984 --> 00:37:46,384
The crazy part, the big takeaway from tweets like Nikita's

671
00:37:46,384 --> 00:37:48,584
and other tweets that we've seen in macro land

672
00:37:48,584 --> 00:37:51,364
over the last two weeks, three weeks,

673
00:37:51,364 --> 00:37:54,504
is that the Overton window has significantly shifted.

674
00:37:54,764 --> 00:37:56,544
You said most people aren't paying attention.

675
00:37:57,684 --> 00:38:00,984
The average person, I have friends.

676
00:38:01,044 --> 00:38:02,084
I know, guys, this is crazy.

677
00:38:02,084 --> 00:38:04,184
I have friends that are not Bitcoiners.

678
00:38:04,644 --> 00:38:07,744
they know that it's that inflation is ripping.

679
00:38:07,844 --> 00:38:10,284
They have a complaining about costs left and right all the time.

680
00:38:10,504 --> 00:38:12,104
Like they know their groceries are expensive.

681
00:38:12,184 --> 00:38:14,684
They know everything is getting way, way, way more expensive.

682
00:38:15,064 --> 00:38:18,784
Like they're not, they're not sitting there and being like, Oh, CPI is,

683
00:38:18,824 --> 00:38:21,904
you know, two and a half percent or whatever, like inflation's under control.

684
00:38:22,704 --> 00:38:23,864
They're well aware.

685
00:38:23,864 --> 00:38:27,244
If anything, they might even think it's even more extreme than it actually is

686
00:38:27,244 --> 00:38:29,624
because they don't really have much savings.

687
00:38:30,704 --> 00:38:31,444
It's happening.

688
00:38:31,584 --> 00:38:34,224
Like there, there's a, there's a realization that's happening.

689
00:38:34,644 --> 00:38:38,064
And it's hard to measure it, but you can feel it in the air.

690
00:38:38,224 --> 00:38:40,644
You can feel it in the air, and that's part of the reason why gold's ripping.

691
00:38:42,264 --> 00:38:44,224
That's probably the main reason that gold's ripping.

692
00:38:45,304 --> 00:38:47,744
But it's going to happen with Bitcoin.

693
00:38:48,584 --> 00:38:57,164
People are going to slowly start to realize that Bitcoin is a massive tool in the arsenal to protect yourself and empower your family.

694
00:38:58,064 --> 00:38:58,204
Yeah.

695
00:38:58,204 --> 00:39:03,544
On that note, especially if you're a small business owner,

696
00:39:03,884 --> 00:39:07,864
you've been handed a tool that can help you navigate that this week.

697
00:39:08,744 --> 00:39:10,704
Big news from Square.

698
00:39:11,484 --> 00:39:12,504
Long time coming.

699
00:39:12,684 --> 00:39:13,264
This was awesome.

700
00:39:14,024 --> 00:39:20,084
Literally since Cash App added Buy Sell Bitcoin in 2018,

701
00:39:21,084 --> 00:39:23,624
people have been asking when Bitcoin and Square terminals.

702
00:39:23,624 --> 00:39:30,944
and earlier this week, Square had their release event two days ago.

703
00:39:31,344 --> 00:39:33,664
I don't know where it was, but they announced that.

704
00:39:33,664 --> 00:39:34,624
It was in New York, I think.

705
00:39:35,084 --> 00:39:35,584
In New York.

706
00:39:35,704 --> 00:39:42,624
They announced that immediately every Square terminal owner

707
00:39:42,624 --> 00:39:48,324
will be able to sweep a part of their card payments into Bitcoin up to 50%.

708
00:39:48,324 --> 00:39:51,304
and as of November 10th,

709
00:39:51,304 --> 00:39:54,764
Bitcoin payment acceptance will be live for everyone.

710
00:39:55,304 --> 00:39:56,784
So when's going to terminal?

711
00:39:57,444 --> 00:39:57,724
Now.

712
00:39:58,744 --> 00:40:01,944
Huge shout out to Miles and Jack and the rest of their team.

713
00:40:02,764 --> 00:40:04,364
We've said in the past,

714
00:40:04,784 --> 00:40:07,924
the dichotomy between what Block is building

715
00:40:07,924 --> 00:40:10,724
versus the leverage Bitcoin equity plays,

716
00:40:11,444 --> 00:40:14,024
like just a full stack Bitcoin powerhouse,

717
00:40:14,024 --> 00:40:15,524
publicly traded company,

718
00:40:15,524 --> 00:40:19,744
is a massive dichotomy.

719
00:40:21,204 --> 00:40:23,964
I think one of the big pieces of news here is

720
00:40:23,964 --> 00:40:25,524
I think it's no fee.

721
00:40:25,684 --> 00:40:29,584
I think if you convert a portion of your fiat into Bitcoin,

722
00:40:29,704 --> 00:40:30,784
you're not paying a fee on it.

723
00:40:31,224 --> 00:40:34,204
Until 2027, I think they're trying to hook me in.

724
00:40:34,204 --> 00:40:34,824
That's awesome.

725
00:40:36,404 --> 00:40:38,964
And then the big one for us Bitcoiners

726
00:40:38,964 --> 00:40:45,004
that are actually holding the majority of our savings

727
00:40:45,004 --> 00:40:48,744
of Bitcoin and have historically needed to convert it to dollars

728
00:40:48,744 --> 00:40:53,204
in order to spend it on things is being able to spend directly starting November 10th.

729
00:40:53,544 --> 00:40:56,104
And I don't know, did they give details on how that works?

730
00:40:56,184 --> 00:41:01,064
If I remember correctly, the original plan was it would be on by default,

731
00:41:01,364 --> 00:41:04,504
but it would convert to dollars on their end, which is fine.

732
00:41:05,364 --> 00:41:07,084
Unless the merchant changed it.

733
00:41:08,084 --> 00:41:12,124
I'm not sure on the specifics. I heard people saying it was opt-in.

734
00:41:12,124 --> 00:41:16,344
so I guess we'll see next month

735
00:41:16,344 --> 00:41:20,184
go find a local business that's using a square terminal

736
00:41:20,184 --> 00:41:21,164
and test it out for yourself

737
00:41:21,164 --> 00:41:25,384
but I guess that's an interesting thought experiment

738
00:41:25,384 --> 00:41:26,684
we can run down right now

739
00:41:26,684 --> 00:41:29,684
so there's 4 million square customers

740
00:41:29,684 --> 00:41:32,364
businesses running square terminals in the United States

741
00:41:32,364 --> 00:41:35,404
what percentage of that 4 million

742
00:41:35,404 --> 00:41:38,004
do you think leans into this?

743
00:41:39,704 --> 00:41:41,544
I mean a very small percenter first

744
00:41:41,544 --> 00:41:49,924
But I mean, that's why the more important thing to me is that it's that I'm able to pay with Bitcoin by default and it doesn't change their books on their end.

745
00:41:50,004 --> 00:41:51,164
Like they're just getting dollars.

746
00:41:51,984 --> 00:41:57,204
I feel like that's that's that's the cheat code because it's it's soft.

747
00:41:57,344 --> 00:42:01,704
Right. Like we shouldn't be forcing merchants to hold Bitcoin.

748
00:42:02,464 --> 00:42:08,744
No, I think I think eventually they will realize that they want to hold Bitcoin.

749
00:42:08,744 --> 00:42:13,264
and whether that's converting a portion of dollars

750
00:42:13,264 --> 00:42:15,424
or actually keeping Bitcoin that they receive

751
00:42:15,424 --> 00:42:18,884
is really neither here nor there.

752
00:42:18,984 --> 00:42:21,244
I think that's going to be a slower process.

753
00:42:23,104 --> 00:42:23,844
But I don't know.

754
00:42:23,904 --> 00:42:25,524
It's kind of cool that it's a slider, right?

755
00:42:25,604 --> 00:42:28,824
So it's like, is there really that much risk

756
00:42:28,824 --> 00:42:31,604
of just switching 5% of your inbound into Bitcoin?

757
00:42:32,484 --> 00:42:34,964
Your business is not going to live or die off of that.

758
00:42:36,984 --> 00:42:37,424
No.

759
00:42:37,424 --> 00:42:42,004
Yeah, and Logan, pull up the, yeah, so I quote tweeted Miles and got this response.

760
00:42:42,104 --> 00:42:43,024
I thought this was interesting.

761
00:42:43,284 --> 00:42:47,004
This gentleman, Glenn Charles, said we've been part of the beta for two years.

762
00:42:47,444 --> 00:42:49,424
Everybody's been like, when are they even focusing on it?

763
00:42:49,464 --> 00:42:56,044
So it seems like they've been working meticulously trying to make sure they launch a good experience for at least two years.

764
00:42:56,904 --> 00:43:00,564
Well, specifically, that's the conversion thing has been going for that long.

765
00:43:00,564 --> 00:43:04,144
The actual Bitcoin payments has been a relatively recent thing.

766
00:43:04,144 --> 00:43:08,204
Yeah, but Glenn also said this has been instrumental in our success.

767
00:43:08,364 --> 00:43:11,744
I'm so excited for all the Square businesses that can now take advantage of this feature.

768
00:43:12,604 --> 00:43:16,704
And so this is the type of quote-unquote corporate Bitcoin adoption that you want to see.

769
00:43:16,944 --> 00:43:20,044
Small businesses that are ingrained in your community.

770
00:43:20,904 --> 00:43:21,404
Really cool.

771
00:43:21,484 --> 00:43:24,344
Have skin in the game in your community, adopting it.

772
00:43:24,864 --> 00:43:28,984
And that's, what is the critical tipping point?

773
00:43:29,104 --> 00:43:30,044
How does the word get out?

774
00:43:30,344 --> 00:43:33,184
That's actually something I would be interested in.

775
00:43:33,184 --> 00:43:36,384
And I'm sure Miles has thought of this, Jack's thought of this, and others.

776
00:43:36,384 --> 00:43:45,644
But having people use it and then launching anonymous data about it over time.

777
00:43:46,004 --> 00:43:52,624
Like, hey, this business converted 15% of their card payments into Bitcoin over this period of time.

778
00:43:52,864 --> 00:43:55,884
And this is what it did to the value of their balance sheet.

779
00:43:56,144 --> 00:43:56,764
That would be extremely helpful.

780
00:43:56,764 --> 00:43:58,264
Yeah, I mean, they have all that data.

781
00:43:59,224 --> 00:44:02,144
I see someone in the YouTube comments.

782
00:44:02,144 --> 00:44:07,524
So my understanding is that all the square terminals

783
00:44:07,524 --> 00:44:11,624
where you can spend Bitcoin at will be added to BTCMap.

784
00:44:13,744 --> 00:44:16,864
So you'll be able to just open up BTCMap.

785
00:44:17,284 --> 00:44:21,884
And ideally, they'll probably add BTCMap itself into Cash App

786
00:44:21,884 --> 00:44:24,404
and see everywhere that Bitcoin's accepted.

787
00:44:25,464 --> 00:44:27,464
But that'll be awesome. I think that's great.

788
00:44:28,324 --> 00:44:29,944
And I guess another note on this too,

789
00:44:29,944 --> 00:44:34,744
So if I recall Miles' presentation from Vegas this year,

790
00:44:35,264 --> 00:44:36,524
this was way ahead of schedule.

791
00:44:36,744 --> 00:44:39,204
They said they were going to launch it out Q1, 2026,

792
00:44:39,544 --> 00:44:41,824
and they launched it earlier this week.

793
00:44:41,904 --> 00:44:42,724
So that's good to see too.

794
00:44:43,404 --> 00:44:53,024
No, I mean, I had Jack on dispatch in February or late January.

795
00:44:54,704 --> 00:44:58,624
And they weren't even considering it at that point.

796
00:44:58,624 --> 00:45:01,204
I asked him, he's like, Bitcoin should be used as money.

797
00:45:01,384 --> 00:45:02,784
And we're like, when square terminals?

798
00:45:02,944 --> 00:45:05,004
He's like, well, that's way far off.

799
00:45:06,004 --> 00:45:07,484
We're not at that point in the adoption.

800
00:45:08,944 --> 00:45:10,224
And so it's been less than a year.

801
00:45:10,924 --> 00:45:12,564
It's been less than a year since that.

802
00:45:12,924 --> 00:45:14,444
So pretty cool how quick they're moving.

803
00:45:14,864 --> 00:45:17,704
I forget who from their team posted about it, but someone from their team was like,

804
00:45:17,984 --> 00:45:22,104
there was a sea change at that org in the last year and a half.

805
00:45:22,184 --> 00:45:26,404
And now they're operating much more like a startup again, like very lean, very quick.

806
00:45:26,404 --> 00:45:28,684
really cool to see

807
00:45:28,684 --> 00:45:30,084
I see Bitcoin Ranger

808
00:45:30,084 --> 00:45:31,564
zapped us 21,000 sats

809
00:45:31,564 --> 00:45:33,504
in the live chat

810
00:45:33,504 --> 00:45:35,844
keep building locally freaks

811
00:45:35,844 --> 00:45:38,104
been working on orange pulling local food

812
00:45:38,104 --> 00:45:39,184
producers and merchants

813
00:45:39,184 --> 00:45:41,784
got 20% off fresh caught salmon

814
00:45:41,784 --> 00:45:43,004
for using Bitcoin with them

815
00:45:43,004 --> 00:45:44,164
tap those incentives

816
00:45:44,164 --> 00:45:48,904
get it done

817
00:45:48,904 --> 00:45:51,564
I will say since

818
00:45:51,564 --> 00:45:54,144
since the Vegas conference

819
00:45:54,144 --> 00:45:55,724
and they like soft teased

820
00:45:55,724 --> 00:45:58,204
the alpha launch of Bitcoin acceptance

821
00:45:58,204 --> 00:46:00,024
and Square terminals. I've been paying attention

822
00:46:00,024 --> 00:46:02,324
to which local merchants have Square terminals

823
00:46:02,324 --> 00:46:03,904
and which don't.

824
00:46:03,904 --> 00:46:05,584
And I have some really good ones

825
00:46:05,584 --> 00:46:07,844
that do, so I'm pretty excited to be able to spend

826
00:46:07,844 --> 00:46:08,444
Bitcoin there.

827
00:46:09,604 --> 00:46:10,124
Well, there's also some

828
00:46:10,124 --> 00:46:13,864
big companies that use it too. I think like Warby Parker

829
00:46:13,864 --> 00:46:14,764
uses Square.

830
00:46:15,504 --> 00:46:17,984
It'll be interesting to see those bigger box

831
00:46:17,984 --> 00:46:18,844
stores. I'm pretty sure.

832
00:46:19,604 --> 00:46:21,724
It's mostly small businesses, I think.

833
00:46:22,744 --> 00:46:22,924
Yeah.

834
00:46:24,364 --> 00:46:25,084
I'm going to pull it out.

835
00:46:25,084 --> 00:46:28,204
But I could see Warby started it as a small business,

836
00:46:28,204 --> 00:46:31,024
and then as they got bigger, they kept it.

837
00:46:31,024 --> 00:46:32,704
Yeah.

838
00:46:32,704 --> 00:46:36,624
So ALR, as he works at Square, was saying,

839
00:46:36,624 --> 00:46:37,684
or at Block, was saying,

840
00:46:37,684 --> 00:46:39,344
tech debt, process debt, restructuring

841
00:46:39,344 --> 00:46:41,684
an 11,000-person org to face new challenges,

842
00:46:41,684 --> 00:46:57,236
cultural shift to lead on AI and open source and protocols maintaining stability and global macroeconomic nonsense consistent quarter profit GBV growth And so I think Block as an organization has been in a big cultural

843
00:46:57,236 --> 00:47:03,056
and technical process re-architecture for a few years.

844
00:47:03,316 --> 00:47:06,876
And it will be interesting to see how these AI tools help these merchants as well.

845
00:47:07,616 --> 00:47:12,476
And if they give them insights into what the best cash flow management

846
00:47:12,476 --> 00:47:21,156
strategy is for them as it pertains to Bitcoin

847
00:47:21,156 --> 00:47:22,356
as well.

848
00:47:23,636 --> 00:47:26,796
Block is converting 10% of their profits into Bitcoin,

849
00:47:27,396 --> 00:47:29,856
which is awesome.

850
00:47:30,636 --> 00:47:33,116
There's a profitable company stacking to treasury.

851
00:47:35,896 --> 00:47:37,556
It should probably be higher.

852
00:47:38,736 --> 00:47:40,776
If you're a profitable small business,

853
00:47:40,776 --> 00:47:43,456
I think you turn that dial up.

854
00:47:43,816 --> 00:47:50,296
Some of the most successful private companies we back at 1031

855
00:47:50,296 --> 00:47:53,016
are at the 90%, 95%.

856
00:47:53,016 --> 00:47:56,876
They keep two, three months runway in dollars,

857
00:47:57,356 --> 00:47:59,496
and then the rest is just all in Bitcoin,

858
00:48:00,696 --> 00:48:05,096
which is probably closer to the right number.

859
00:48:05,096 --> 00:48:10,096
But it depends on your actual situation.

860
00:48:10,776 --> 00:48:18,516
I guess to wrap up the square conversation,

861
00:48:18,676 --> 00:48:21,116
Jack quickly tweeted out after the announcement

862
00:48:21,116 --> 00:48:23,636
that it's time to get a de minimis tax exemption,

863
00:48:24,016 --> 00:48:26,916
to which Senator Lummis quote tweeted him

864
00:48:26,916 --> 00:48:28,176
and said, we're working on it, we have a bill.

865
00:48:28,396 --> 00:48:33,456
So it looks like the drums of getting a de minimis exemption

866
00:48:33,456 --> 00:48:36,076
for Bitcoin payments are beginning to beat a little louder.

867
00:48:36,176 --> 00:48:40,056
Who knows if they'll catch on, but that would be massive.

868
00:48:40,056 --> 00:48:43,376
I think any Bitcoin payment should not have taxes on it.

869
00:48:43,396 --> 00:48:44,016
Bitcoin is money.

870
00:48:44,436 --> 00:48:49,236
Trump should just follow through on his promises

871
00:48:49,236 --> 00:48:51,676
of cutting taxes significantly

872
00:48:51,676 --> 00:48:54,736
and just get rid of all cap gains tax across all assets.

873
00:48:55,396 --> 00:48:56,576
Period. Not just Bitcoin.

874
00:48:57,496 --> 00:48:59,036
Come on, Donald. Let's do it.

875
00:48:59,176 --> 00:49:02,476
Do a tariffs-only tax strategy.

876
00:49:03,396 --> 00:49:04,376
Excuse me, that was rude of me.

877
00:49:04,476 --> 00:49:05,856
President Trump, let's do it.

878
00:49:06,336 --> 00:49:07,316
Come on, President Trump.

879
00:49:10,056 --> 00:49:13,296
I keep instinctively going back to Signal looking for the list.

880
00:49:13,416 --> 00:49:14,556
I keep forgetting we don't have a list.

881
00:49:14,656 --> 00:49:15,216
What else happened this week?

882
00:49:15,216 --> 00:49:15,796
There's no list.

883
00:49:17,436 --> 00:49:20,516
I think last week we forgot to read the boosts from Fountain.

884
00:49:22,376 --> 00:49:23,236
I don't think we did.

885
00:49:24,236 --> 00:49:26,996
You want to read last week's boosts?

886
00:49:27,196 --> 00:49:28,756
This week or whatever?

887
00:49:30,356 --> 00:49:31,476
Yeah, we did forget.

888
00:49:32,576 --> 00:49:33,016
There you go.

889
00:49:33,016 --> 00:49:33,236
So,

890
00:49:33,236 --> 00:49:35,796
So, top things from Apple.

891
00:49:36,516 --> 00:49:39,196
3.76, all in Bitcoin,

892
00:49:39,916 --> 00:49:41,416
Foyze, 21,000 sets,

893
00:49:41,596 --> 00:49:43,776
Chicago meetup, Sunday, October 19th at 1 p.m.

894
00:49:43,776 --> 00:49:45,276
Discussion on urban egg mining

895
00:49:45,276 --> 00:49:47,516
and building out a Chicago Bitcoin event

896
00:49:47,516 --> 00:49:49,236
and hacker space.

897
00:49:49,716 --> 00:49:51,416
See Primal for location details.

898
00:49:51,576 --> 00:49:52,256
So this is good.

899
00:49:53,276 --> 00:49:56,316
Also visit PubKey Manhattan, Sunday, October 26th.

900
00:49:56,316 --> 00:49:58,616
I'll be cooking my own menu for the night.

901
00:49:58,616 --> 00:49:59,956
Shout out to the PubKey crew.

902
00:50:01,036 --> 00:50:02,416
So, late, but,

903
00:50:02,416 --> 00:50:04,596
the information is not stale.

904
00:50:05,436 --> 00:50:07,436
It is pertinent, and you have time.

905
00:50:07,696 --> 00:50:10,256
So Sunday, October 19th at 1 in Chicago,

906
00:50:10,956 --> 00:50:13,396
and Sunday, October 26th,

907
00:50:13,476 --> 00:50:16,316
I'm assuming Sunday night at PubKey in Manhattan,

908
00:50:16,316 --> 00:50:18,776
if you want to enjoy some of Foyze's cooking.

909
00:50:19,956 --> 00:50:23,056
22,222 sats,

910
00:50:23,596 --> 00:50:24,316
twos across the board,

911
00:50:24,416 --> 00:50:25,776
pound drum boost from stimmy,

912
00:50:26,376 --> 00:50:28,016
hashtag 40 hours per week.

913
00:50:28,776 --> 00:50:30,076
With the headphones on, Odell,

914
00:50:30,456 --> 00:50:31,536
that was a good dispatch,

915
00:50:31,536 --> 00:50:33,156
with Seth for Privacy 9.

916
00:50:33,216 --> 00:50:34,976
I know why you reminded me to read these.

917
00:50:35,076 --> 00:50:38,536
If Ashigaru doesn't yet have much proof of work,

918
00:50:38,736 --> 00:50:40,276
what sorts of things would you like to see

919
00:50:40,276 --> 00:50:41,356
from the project to achieve?

920
00:50:41,916 --> 00:50:42,936
Also, shout out to Vaik.

921
00:50:43,856 --> 00:50:45,596
BitcoinTutorials.org is really cool.

922
00:50:45,996 --> 00:50:48,996
I see Vaik in the Primal live chat.

923
00:50:49,296 --> 00:50:51,876
So Vaik getting some props from Stimmy.

924
00:50:53,616 --> 00:50:55,396
What would you like to see from Ashigaru?

925
00:50:57,976 --> 00:50:58,536
I don't know.

926
00:50:58,576 --> 00:50:59,756
It just needs more time.

927
00:50:59,756 --> 00:51:02,496
we talked about it on the show

928
00:51:02,496 --> 00:51:04,496
I thought that was funny because he zapped

929
00:51:04,496 --> 00:51:06,636
RHR so you got half of

930
00:51:06,636 --> 00:51:07,856
my zap

931
00:51:07,856 --> 00:51:10,096
that was a zap for dispatch

932
00:51:10,096 --> 00:51:11,416
he knew Vake was going to be listening

933
00:51:11,416 --> 00:51:12,636
he knew Vake was going to be listening

934
00:51:12,636 --> 00:51:14,256
fair enough

935
00:51:14,256 --> 00:51:18,296
no I mean just someone had told me that we hadn't read boost

936
00:51:18,296 --> 00:51:19,736
that's why I knew we didn't read boost

937
00:51:19,736 --> 00:51:23,836
those were the only two boost

938
00:51:23,836 --> 00:51:25,816
over 21,000 sats

939
00:51:25,816 --> 00:51:28,336
for Rabbit Hole Recap 376

940
00:51:28,336 --> 00:51:29,716
Rabbit Hole Recap 377

941
00:51:29,716 --> 00:51:33,016
Bitcoin is going much higher over the long term.

942
00:51:33,376 --> 00:51:34,816
Over the long term, it certainly is.

943
00:51:34,896 --> 00:51:36,956
Maybe not since 377.

944
00:51:37,456 --> 00:51:37,996
It's a little lower.

945
00:51:38,776 --> 00:51:40,836
Global markets are getting crushed right now.

946
00:51:41,176 --> 00:51:43,536
So S&P is down almost 2%.

947
00:51:43,536 --> 00:51:46,256
Yeah, tariffs, tariffs, man.

948
00:51:46,436 --> 00:51:47,856
Tariffing rare earth metals.

949
00:51:47,996 --> 00:51:49,676
China negotiations not going well.

950
00:51:50,476 --> 00:51:51,316
China, come on.

951
00:51:51,756 --> 00:51:52,316
Get with it.

952
00:51:52,356 --> 00:51:53,156
We need Bitcoin to pump.

953
00:51:53,316 --> 00:51:54,776
Read 21,000 sats.

954
00:51:54,876 --> 00:51:57,296
Western Mass regional Bitcoin meetup announcement.

955
00:51:57,296 --> 00:52:07,096
Join us at 6 p.m. on Saturday, October 18th at the Dante Club in West Springfield to celebrate the third anniversary of the Western Mass Bitcoin meetup.

956
00:52:07,516 --> 00:52:10,296
Pizza will be provided and there will be a cash bar.

957
00:52:10,856 --> 00:52:16,236
If you mentioned you heard about us on RHR, you'll get a free laser engraved pint glass.

958
00:52:16,396 --> 00:52:16,616
Wow.

959
00:52:17,516 --> 00:52:17,916
Wow.

960
00:52:19,276 --> 00:52:21,476
RSVP at westernmassbitcoin.com.

961
00:52:21,536 --> 00:52:21,756
Cheers.

962
00:52:22,456 --> 00:52:22,956
That's great.

963
00:52:23,076 --> 00:52:23,656
That's awesome.

964
00:52:23,656 --> 00:52:27,096
I got a free laser engraved pint class.

965
00:52:27,176 --> 00:52:30,416
I might have to go up to Western Mass on Saturdays.

966
00:52:30,496 --> 00:52:30,936
I did too.

967
00:52:35,896 --> 00:52:38,696
Those are the top boosts from the last two weeks.

968
00:52:38,816 --> 00:52:40,376
Sorry for not reading them last week.

969
00:52:40,516 --> 00:52:43,116
We were road-dogging it.

970
00:52:43,796 --> 00:52:44,536
I'm still recovering.

971
00:52:44,536 --> 00:52:49,916
Like I was telling you, you got to overdose on vitamin C.

972
00:52:50,036 --> 00:52:51,856
I've been doing it all week, and it's been helping me get back.

973
00:52:53,656 --> 00:52:54,396
I love it, yeah.

974
00:52:55,216 --> 00:52:57,816
I've just been going ham on electrolytes.

975
00:52:58,156 --> 00:52:59,316
Shout out Salt of the Earth.

976
00:52:59,476 --> 00:53:00,536
Use Marty's RefLink.

977
00:53:01,296 --> 00:53:02,896
I don't get anything for it.

978
00:53:03,216 --> 00:53:03,436
Got it.

979
00:53:04,656 --> 00:53:07,976
When Odell RefLink?

980
00:53:08,496 --> 00:53:10,236
I've got to sit down with Sean.

981
00:53:10,416 --> 00:53:12,816
We're going to revamp our Salt of the Earth position.

982
00:53:12,816 --> 00:53:16,576
I think my family personally has,

983
00:53:16,776 --> 00:53:20,656
I don't know how much money we'd put through the TFTC code

984
00:53:20,656 --> 00:53:22,236
for Salt of the Earth, but it's a lot.

985
00:53:22,236 --> 00:53:23,916
We're on the reoccurring sales.

986
00:53:25,376 --> 00:53:28,196
I see someone in the comments asking once again

987
00:53:28,196 --> 00:53:30,996
for us to comment on Core v30.

988
00:53:32,016 --> 00:53:33,216
We literally commented about it.

989
00:53:33,216 --> 00:53:35,516
We literally did already this episode.

990
00:53:35,996 --> 00:53:37,376
But I would just say out there, guys,

991
00:53:37,616 --> 00:53:40,796
if you're on the internet...

992
00:53:40,796 --> 00:53:43,776
If you're making this your personality,

993
00:53:44,076 --> 00:53:45,076
just rethink what you're doing.

994
00:53:45,516 --> 00:53:50,096
And also, if you're making the argument

995
00:53:50,096 --> 00:53:53,416
that open source developers should be liable for the code they write,

996
00:53:53,496 --> 00:53:56,036
you should look in the fucking mirror and ask yourself if you're the baddie.

997
00:53:56,936 --> 00:53:59,696
Just think real hard on that,

998
00:53:59,836 --> 00:54:02,276
on what the implications are about open source developers

999
00:54:02,276 --> 00:54:03,716
being liable for the code they write.

1000
00:54:04,256 --> 00:54:05,956
Because they're not forcing you to run anything.

1001
00:54:06,596 --> 00:54:08,376
So just think about it. Just think about it a little bit.

1002
00:54:09,436 --> 00:54:11,576
Are you turning into the spook that you're looking to run away from?

1003
00:54:13,576 --> 00:54:15,636
I'm not going to accuse anyone of being spooks,

1004
00:54:15,636 --> 00:54:18,336
but I think people should think long and hard about their actions.

1005
00:54:18,336 --> 00:54:23,376
this is cool to see

1006
00:54:23,376 --> 00:54:24,436
Logan pull this up

1007
00:54:24,436 --> 00:54:26,776
our boy Matthew Mazingshus from Porkopolis

1008
00:54:26,776 --> 00:54:27,476
Economics

1009
00:54:27,476 --> 00:54:31,456
he tweeted out earlier today

1010
00:54:31,456 --> 00:54:33,576
Bitcoin is on track to pass yet another milestone

1011
00:54:33,576 --> 00:54:35,136
this month becoming number one

1012
00:54:35,136 --> 00:54:36,576
across all cash money

1013
00:54:36,576 --> 00:54:38,376
central banks publishes data once a month

1014
00:54:38,376 --> 00:54:40,856
Bitcoin has never quote unquote closed a month

1015
00:54:40,856 --> 00:54:42,316
ahead of the US dollar notes

1016
00:54:42,316 --> 00:54:44,536
in coins ever printed slash minted

1017
00:54:44,536 --> 00:54:46,256
it could do so in October

1018
00:54:46,256 --> 00:54:48,496
So Bitcoin is digital cash.

1019
00:54:49,436 --> 00:54:55,276
Base money, Matthew is very principled and beats the drum.

1020
00:54:55,436 --> 00:55:02,496
If you're comparing Bitcoin to anything, it's base money, which includes cash and M0 across all the world's central banks.

1021
00:55:02,596 --> 00:55:05,116
And then gold and silver throw that in as well.

1022
00:55:06,336 --> 00:55:15,156
And it looks like Bitcoin's market cap will surpass the U.S. dollar in notes and coins.

1023
00:55:15,156 --> 00:55:18,716
The amount of notes and coins that exist in the market or floating in the market,

1024
00:55:18,936 --> 00:55:23,816
Bitcoin's market cap will be worth more than all the US dollar notes and coins that exist,

1025
00:55:23,916 --> 00:55:24,476
which is pretty cool.

1026
00:55:26,236 --> 00:55:26,656
I see.

1027
00:55:28,836 --> 00:55:29,596
That's awesome.

1028
00:55:30,056 --> 00:55:35,096
I see we got 21,000 sad zap from Beefsteak Josh.

1029
00:55:35,256 --> 00:55:36,916
He says, muah, ha, ha, ha, ha.

1030
00:55:39,456 --> 00:55:40,736
We've had the benefit.

1031
00:55:40,736 --> 00:55:44,236
I've had the benefit of having two beefsteaks over the last two weeks,

1032
00:55:44,236 --> 00:55:45,576
two separate events.

1033
00:55:47,656 --> 00:55:48,696
Really appreciate you,

1034
00:55:48,756 --> 00:55:49,016
Josh.

1035
00:55:49,896 --> 00:55:51,036
I love beef steaks.

1036
00:55:51,116 --> 00:55:52,556
Beef steaks are the fucking best.

1037
00:55:52,636 --> 00:55:53,796
If you've never been to a beef steak,

1038
00:55:54,416 --> 00:55:55,856
you're missing out.

1039
00:55:59,016 --> 00:56:01,136
Just amazing food,

1040
00:56:01,276 --> 00:56:01,916
amazing people.

1041
00:56:03,036 --> 00:56:04,076
And then we have our resident.

1042
00:56:04,756 --> 00:56:04,916
Yeah,

1043
00:56:04,976 --> 00:56:05,316
go on.

1044
00:56:05,756 --> 00:56:06,116
I was going to say,

1045
00:56:06,256 --> 00:56:07,636
I've been going to beef steaks for,

1046
00:56:07,636 --> 00:56:09,996
I mean,

1047
00:56:10,056 --> 00:56:11,856
like at least six,

1048
00:56:11,976 --> 00:56:12,596
seven years now.

1049
00:56:13,096 --> 00:56:14,176
They're only getting better.

1050
00:56:14,236 --> 00:56:19,376
they're only getting better in terms of the quality of the steak and the food and the recipes

1051
00:56:19,376 --> 00:56:27,256
no he's really he's really nailed nailed the recipe um i see um our resident winemaker ben

1052
00:56:27,256 --> 00:56:34,076
justman also zapped us 21 000 sats he says we're gonna win uh he told me how to pronounce his wine

1053
00:56:34,076 --> 00:56:43,296
but i forget i think it's peony peony i don't know peony peony peony peony peony he told me

1054
00:56:43,296 --> 00:56:43,976
how to pronounce it.

1055
00:56:45,176 --> 00:56:47,476
It's P-E-O-N-Y

1056
00:56:47,476 --> 00:56:48,696
Lane. Peony.

1057
00:56:49,156 --> 00:56:49,816
Peony Lane.

1058
00:56:50,696 --> 00:56:51,776
It's a very good one.

1059
00:56:53,176 --> 00:56:54,156
Great table one.

1060
00:56:55,016 --> 00:56:57,036
And then I see Dylan, chief of staff

1061
00:56:57,036 --> 00:56:58,756
of Strike, good buddy,

1062
00:56:59,076 --> 00:57:00,816
zapped 21,000 sets, and he

1063
00:57:00,816 --> 00:57:02,416
figured out how to

1064
00:57:02,416 --> 00:57:05,036
use a lightning wallet, which is pretty impressive.

1065
00:57:05,556 --> 00:57:07,036
And he's asking Marty...

1066
00:57:07,036 --> 00:57:07,956
I didn't even know he had Bitcoin.

1067
00:57:09,096 --> 00:57:09,996
He has some Bitcoin.

1068
00:57:10,556 --> 00:57:13,196
He scooped up some Bitcoin on Strike just to zap us.

1069
00:57:13,296 --> 00:57:15,776
He says, Marty, give us a scorching hot take,

1070
00:57:15,856 --> 00:57:17,296
something that makes Odell nervous.

1071
00:57:21,296 --> 00:57:23,676
I got to think about this one.

1072
00:57:24,456 --> 00:57:28,136
I've been avoiding the Blackfeet.

1073
00:57:28,176 --> 00:57:29,016
Look, he's already nervous.

1074
00:57:29,196 --> 00:57:30,296
I haven't even said anything yet.

1075
00:57:30,436 --> 00:57:31,236
He's scratching his heart.

1076
00:57:31,316 --> 00:57:33,476
No, I'm just –

1077
00:57:33,476 --> 00:57:38,296
There's someone in the YouTube live chat who can go fuck themselves.

1078
00:57:39,196 --> 00:57:39,636
Okay.

1079
00:57:39,636 --> 00:57:45,276
I don't know if I have a Scorching hot take right now.

1080
00:57:46,616 --> 00:57:47,856
What would make you nervous?

1081
00:57:49,516 --> 00:57:50,256
I don't know.

1082
00:57:50,416 --> 00:57:51,856
I don't know if I can make you nervous.

1083
00:57:53,316 --> 00:57:53,456
Yeah.

1084
00:57:57,216 --> 00:58:02,856
I mean, the whole Israel thing, it's like complete over 10 window shifts.

1085
00:58:03,356 --> 00:58:05,016
Nobody likes AIPAC anymore.

1086
00:58:05,136 --> 00:58:05,856
People are calling it out.

1087
00:58:06,016 --> 00:58:06,456
It's like, okay.

1088
00:58:07,756 --> 00:58:08,696
Yeah, I mean, that's a year.

1089
00:58:08,696 --> 00:58:10,376
that's a

1090
00:58:10,376 --> 00:58:11,536
we're gonna talk

1091
00:58:11,536 --> 00:58:12,676
talk about that

1092
00:58:12,676 --> 00:58:13,456
that's a consensus

1093
00:58:13,456 --> 00:58:14,236
take bro

1094
00:58:14,236 --> 00:58:15,176
that's yeah

1095
00:58:15,176 --> 00:58:15,576
exactly

1096
00:58:15,576 --> 00:58:16,556
it's like

1097
00:58:16,556 --> 00:58:18,216
everything's

1098
00:58:18,216 --> 00:58:18,796
everything's calmed

1099
00:58:18,796 --> 00:58:19,336
down now

1100
00:58:19,336 --> 00:58:19,696
it's like

1101
00:58:19,696 --> 00:58:21,896
I'm an old man

1102
00:58:21,896 --> 00:58:22,536
now I've got

1103
00:58:22,536 --> 00:58:23,116
three children

1104
00:58:23,116 --> 00:58:25,176
who was I

1105
00:58:25,176 --> 00:58:25,776
joking with

1106
00:58:25,776 --> 00:58:26,956
or 1031

1107
00:58:26,956 --> 00:58:27,336
I'm in

1108
00:58:27,336 --> 00:58:28,396
so I'm just like

1109
00:58:28,396 --> 00:58:28,836
I want to tap

1110
00:58:28,836 --> 00:58:29,516
a young zoomer

1111
00:58:29,516 --> 00:58:30,316
on the shoulder

1112
00:58:30,316 --> 00:58:30,616
and be like

1113
00:58:30,616 --> 00:58:31,056
I don't have it

1114
00:58:31,056 --> 00:58:31,576
in me anymore

1115
00:58:31,576 --> 00:58:31,836
brother

1116
00:58:31,836 --> 00:58:32,456
I can't fall

1117
00:58:32,456 --> 00:58:32,836
down these

1118
00:58:32,836 --> 00:58:33,256
rabbit holes

1119
00:58:33,256 --> 00:58:33,656
anymore

1120
00:58:33,656 --> 00:58:35,076
I'm gonna do it

1121
00:58:35,076 --> 00:58:35,656
I'm gonna focus

1122
00:58:35,656 --> 00:58:36,096
on bitcoin

1123
00:58:36,096 --> 00:58:36,876
adoption

1124
00:58:36,876 --> 00:58:38,336
and proliferation

1125
00:58:38,336 --> 00:58:44,796
where do we go from here

1126
00:58:44,796 --> 00:58:47,876
anything else we should touch on

1127
00:58:47,876 --> 00:58:58,996
I got nothing really

1128
00:58:58,996 --> 00:59:03,156
look I mean I think

1129
00:59:03,156 --> 00:59:07,376
I don't know I wasn't really paying attention to the news this week

1130
00:59:07,376 --> 00:59:08,136
I was really busy

1131
00:59:08,136 --> 00:59:10,516
what was the

1132
00:59:10,516 --> 00:59:13,816
most inspiring or the coolest thing

1133
00:59:13,816 --> 00:59:14,556
you saw this week

1134
00:59:14,556 --> 00:59:19,336
I don't know there's

1135
00:59:19,336 --> 00:59:20,176
a bit of

1136
00:59:20,176 --> 00:59:22,836
Chatham House rules

1137
00:59:22,836 --> 00:59:23,816
but

1138
00:59:23,816 --> 00:59:25,976
I

1139
00:59:25,976 --> 00:59:29,716
the coolest part is always working with the activists

1140
00:59:29,716 --> 00:59:31,596
you know we did the first activist

1141
00:59:31,596 --> 00:59:33,176
training session in 2019

1142
00:59:33,176 --> 00:59:35,616
in January 2019 at Cash App

1143
00:59:35,616 --> 00:59:37,416
headquarters it was like three

1144
00:59:37,416 --> 00:59:39,176
Bitcoiners and like nine activists.

1145
00:59:40,536 --> 00:59:41,536
Miles hosted

1146
00:59:41,536 --> 00:59:42,296
a cash up.

1147
00:59:43,736 --> 00:59:45,576
And the tools

1148
00:59:45,576 --> 00:59:47,476
fucking sucked. We were

1149
00:59:47,476 --> 00:59:49,456
using like GreenWallet, BTCPacer

1150
00:59:49,456 --> 00:59:51,396
didn't exist. Lightning

1151
00:59:51,396 --> 00:59:52,276
barely existed.

1152
00:59:53,316 --> 00:59:55,136
And we've come a long fucking way.

1153
00:59:55,516 --> 00:59:57,376
We've come really, really far.

1154
00:59:58,996 --> 00:59:59,516
One

1155
00:59:59,516 --> 01:00:01,076
of the activists was using Bolt12.

1156
01:00:01,636 --> 01:00:03,456
It's like, wow. It's like

1157
01:00:03,456 --> 01:00:05,416
the first time I saw a Bolt12 QR code

1158
01:00:05,416 --> 01:00:07,436
in the wild. I think Phoenix Wild is the only

1159
01:00:07,436 --> 01:00:09,156
thing that spends and receives from it.

1160
01:00:12,656 --> 01:00:13,096
But

1161
01:00:13,096 --> 01:00:15,676
it's always inspiring and then frustrating.

1162
01:00:16,416 --> 01:00:17,436
Because you realize

1163
01:00:17,436 --> 01:00:19,376
time is of the essence and you need to get shit done.

1164
01:00:20,036 --> 01:00:21,436
We need these things yesterday.

1165
01:00:22,356 --> 01:00:23,656
But then inspiring because

1166
01:00:23,656 --> 01:00:25,736
these people, their lives

1167
01:00:25,736 --> 01:00:27,456
are on the line on a constant basis.

1168
01:00:29,556 --> 01:00:31,616
I've just never had to live under that kind of pressure.

1169
01:00:31,616 --> 01:00:33,376
so

1170
01:00:33,376 --> 01:00:35,596
just want to do right by them

1171
01:00:35,596 --> 01:00:40,096
I was talking to somebody earlier this week

1172
01:00:40,096 --> 01:00:40,916
on a call

1173
01:00:40,916 --> 01:00:41,456
and

1174
01:00:41,456 --> 01:00:44,836
that's like

1175
01:00:44,836 --> 01:00:46,156
they were talking about Trojan Horse

1176
01:00:46,156 --> 01:00:47,696
like juxtaposing

1177
01:00:47,696 --> 01:00:50,176
you can juxtapose like what Jack's doing

1178
01:00:50,176 --> 01:00:52,356
at Block and Square and BitKey and Proto

1179
01:00:52,356 --> 01:00:54,196
and Spiral to Sailor

1180
01:00:54,196 --> 01:00:56,296
and the other treasury companies

1181
01:00:56,296 --> 01:00:58,316
when it comes to like optimism

1182
01:00:58,316 --> 01:01:00,396
for Bitcoin actually becoming money

1183
01:01:00,396 --> 01:01:01,236
it's like

1184
01:01:01,616 --> 01:01:03,176
what we're seeing with the activists,

1185
01:01:04,036 --> 01:01:06,556
how people in emerging economies are leveraging Bitcoin,

1186
01:01:07,056 --> 01:01:09,376
not because they want to, because they need to.

1187
01:01:09,436 --> 01:01:10,476
It's the only thing that works for them.

1188
01:01:10,576 --> 01:01:11,876
That's the thing that gives me confidence

1189
01:01:11,876 --> 01:01:16,036
that Bitcoin's ultimate success is,

1190
01:01:16,196 --> 01:01:17,036
I don't want to say inevitable,

1191
01:01:17,336 --> 01:01:20,416
but I'm very optimistic about it

1192
01:01:20,416 --> 01:01:22,336
because Bitcoin is a tool that can do things

1193
01:01:22,336 --> 01:01:24,316
that nothing else can do in people.

1194
01:01:24,916 --> 01:01:26,856
Whether you realize it or not here in the West,

1195
01:01:26,996 --> 01:01:29,236
people need it and they're using it, they're finding it.

1196
01:01:29,656 --> 01:01:30,496
It's getting better.

1197
01:01:30,496 --> 01:01:36,136
the UX is increasing and we should all be proud and happy that it's getting

1198
01:01:36,136 --> 01:01:36,436
better.

1199
01:01:37,756 --> 01:01:38,236
100%.

1200
01:01:38,236 --> 01:01:41,756
But still lots and lots of work to be done.

1201
01:01:42,796 --> 01:01:44,276
Can't pull our foot off the gas.

1202
01:01:44,356 --> 01:01:44,996
We need to accelerate.

1203
01:01:45,676 --> 01:01:46,476
We need to do more.

1204
01:01:48,756 --> 01:01:49,916
Time is of the essence.

1205
01:01:53,256 --> 01:01:54,856
That actually reminds me,

1206
01:01:54,856 --> 01:01:59,456
another piece that is becoming more and more important is private and secure

1207
01:01:59,456 --> 01:02:03,696
actually open AI tools.

1208
01:02:03,696 --> 01:02:07,516
And Maple had a huge release, a huge beta release,

1209
01:02:07,516 --> 01:02:11,936
over the last few days, a complete rewrite of their stack.

1210
01:02:11,936 --> 01:02:15,896
That includes a new test flight app on iPhone

1211
01:02:15,896 --> 01:02:21,536
and a new beta APK for Android.

1212
01:02:21,536 --> 01:02:25,216
So they're calling for people to test it and give feedback.

1213
01:02:25,248 --> 01:02:27,148
because it's going to completely new rewrite.

1214
01:02:27,288 --> 01:02:30,808
Trymaple.ai is their website.

1215
01:02:33,008 --> 01:02:34,788
But I'm pretty excited about it.

1216
01:02:34,868 --> 01:02:36,568
It works way better now.

1217
01:02:36,828 --> 01:02:37,648
It's fucking awesome.

1218
01:02:38,388 --> 01:02:38,908
It really does.

1219
01:02:38,908 --> 01:02:42,848
So we're really narrowing the gap between the proprietary

1220
01:02:42,848 --> 01:02:50,048
walled garden surveillance tools and the open alternatives,

1221
01:02:50,708 --> 01:02:52,588
the private secure open alternatives.

1222
01:02:53,008 --> 01:02:54,988
So really good to see.

1223
01:02:55,248 --> 01:02:58,188
does it have access to

1224
01:02:58,188 --> 01:02:59,728
is this one

1225
01:02:59,728 --> 01:03:00,568
has access to the internet?

1226
01:03:01,468 --> 01:03:04,228
that's going to be the next one

1227
01:03:04,228 --> 01:03:05,728
two weeks

1228
01:03:05,728 --> 01:03:08,728
I was playing around with it

1229
01:03:08,728 --> 01:03:10,368
just to do research

1230
01:03:10,368 --> 01:03:13,308
before my interview with Instagibs

1231
01:03:13,308 --> 01:03:14,188
and was asking about

1232
01:03:14,188 --> 01:03:17,508
core version 30

1233
01:03:17,508 --> 01:03:19,828
which model were you asking?

1234
01:03:21,628 --> 01:03:23,028
Deep Sequel R1

1235
01:03:23,028 --> 01:03:28,248
Yeah. So it's like the newer models, they have more up-to-date information, right? But they don't

1236
01:03:28,248 --> 01:03:46,738
have real information They just added the newest DeepSeq model and the newest open GPT model And so those both end late 24 or something in terms of their knowledge base But the real unlock is once

1237
01:03:46,738 --> 01:03:49,378
you have real-time search integrated as well

1238
01:03:49,378 --> 01:03:51,298
so that they can actually analyze

1239
01:03:51,298 --> 01:03:53,438
up to, like, actually up-to-date information

1240
01:03:53,438 --> 01:03:55,298
within the last hour or so.

1241
01:03:56,258 --> 01:03:57,998
And that's going to be a massive unlock.

1242
01:03:58,078 --> 01:04:00,038
And it's really hard to do in a privacy-preserving way,

1243
01:04:00,038 --> 01:04:01,698
which is why it's taken a while.

1244
01:04:01,698 --> 01:04:04,098
but

1245
01:04:04,098 --> 01:04:05,778
yeah

1246
01:04:05,778 --> 01:04:08,138
I'm pretty excited about that

1247
01:04:08,138 --> 01:04:10,818
shout out to those guys

1248
01:04:10,818 --> 01:04:11,178
and Logan

1249
01:04:11,178 --> 01:04:14,038
I'm going to respect your time this week

1250
01:04:14,038 --> 01:04:15,118
I'm not going to drag you

1251
01:04:15,118 --> 01:04:16,078
I know you want to do a tight hour

1252
01:04:16,078 --> 01:04:17,038
I know you're not feeling good

1253
01:04:17,038 --> 01:04:17,498
but

1254
01:04:17,498 --> 01:04:19,758
I wrote about this in the newsletter

1255
01:04:19,758 --> 01:04:20,418
and I just think

1256
01:04:20,418 --> 01:04:20,918
you know what

1257
01:04:20,918 --> 01:04:22,538
send everybody into the weekend

1258
01:04:22,538 --> 01:04:23,118
with good vibes

1259
01:04:23,118 --> 01:04:23,578
maybe good

1260
01:04:23,578 --> 01:04:24,238
I think

1261
01:04:24,238 --> 01:04:25,678
this will

1262
01:04:25,678 --> 01:04:27,538
I don't think it will arrange you

1263
01:04:27,538 --> 01:04:28,638
it may depress you a little bit

1264
01:04:28,638 --> 01:04:29,038
but also

1265
01:04:29,038 --> 01:04:30,558
it will inspire you by the end of it

1266
01:04:30,558 --> 01:04:31,198
Logan pulled up

1267
01:04:31,198 --> 01:04:37,958
I think everybody should watch this 15-minute short film by Sheehan Quirk,

1268
01:04:38,738 --> 01:04:41,118
known as the Cultural Tutor on Twitter.

1269
01:04:41,278 --> 01:04:43,298
We're not going to watch it now, though, right?

1270
01:04:43,698 --> 01:04:44,758
No, no, we're not watching now.

1271
01:04:44,838 --> 01:04:45,838
It's like 20 minutes.

1272
01:04:46,178 --> 01:04:49,018
I watched some of it because you posted it in one of our group chats.

1273
01:04:50,338 --> 01:04:51,198
I fat-fingered it.

1274
01:04:51,198 --> 01:05:02,148
Thank God it was that YouTube video that I sent in there by accident It was pretty funny the other one too I watched the other one The other one was good Marty sent the wrong YouTube video to a group chat

1275
01:05:02,148 --> 01:05:04,008
with all of our portfolio companies in it.

1276
01:05:04,228 --> 01:05:05,708
And then six hours later, it was like,

1277
01:05:06,088 --> 01:05:08,808
oops, my bad, this was the YouTube video I was supposed to send.

1278
01:05:08,868 --> 01:05:10,228
But the other one's a banger as well.

1279
01:05:12,388 --> 01:05:14,648
This is the accidental one.

1280
01:05:14,648 --> 01:05:16,768
So how did the world get so ugly?

1281
01:05:17,088 --> 01:05:18,008
The cultural tutor.

1282
01:05:18,928 --> 01:05:20,848
This was the mistake one, right?

1283
01:05:21,268 --> 01:05:21,748
Yeah.

1284
01:05:22,208 --> 01:05:22,648
Yeah.

1285
01:05:22,908 --> 01:05:23,608
This is really good.

1286
01:05:26,908 --> 01:05:27,188
Check.

1287
01:05:30,248 --> 01:05:30,768
Yeah.

1288
01:05:31,208 --> 01:05:33,328
No, I mean, like, I think vibes are high.

1289
01:05:33,988 --> 01:05:38,528
I think people should step away from the keyboard and touch grass a little bit.

1290
01:05:41,708 --> 01:05:44,528
And, you know, this is a...

1291
01:05:45,368 --> 01:05:50,308
Marty and his team made a 1031 focused AI video.

1292
01:05:50,308 --> 01:05:54,488
this week. That was awesome.

1293
01:05:55,248 --> 01:05:58,308
So thank you, Marty, for that. You're quite impressive.

1294
01:05:59,908 --> 01:06:02,008
What is it? Elijah is your...

1295
01:06:02,008 --> 01:06:06,228
Elijah. I can't take any... Elijah took his bull by the... He's one of the wizards.

1296
01:06:06,328 --> 01:06:16,478
He took the bull by the horns and did it Souped and not saw by himself But the reason I bring it up is because the core of it right It like build for 100 years

1297
01:06:17,178 --> 01:06:19,018
This shit is a marathon, not a sprint.

1298
01:06:21,018 --> 01:06:24,938
You got to lock in and you got to grind it out.

1299
01:06:26,058 --> 01:06:26,218
Yeah.

1300
01:06:28,718 --> 01:06:34,158
I literally just had that discussion with Vince Lancey for TFTC.

1301
01:06:34,158 --> 01:06:35,058
It'll come out next week.

1302
01:06:35,058 --> 01:06:37,858
he said, I'm a gold bug

1303
01:06:37,858 --> 01:06:39,978
Bitcoin will be massively successful

1304
01:06:39,978 --> 01:06:41,638
when I'm dead, not because he's dead

1305
01:06:41,638 --> 01:06:43,938
but it's going to take two generations, three generations

1306
01:06:43,938 --> 01:06:46,238
to really get it to where

1307
01:06:46,238 --> 01:06:47,238
it needs to be

1308
01:06:47,238 --> 01:06:48,938
and you, as somebody

1309
01:06:48,938 --> 01:06:50,958
who may not want to wait

1310
01:06:50,958 --> 01:06:53,318
three generations, maybe you don't have the luxury to

1311
01:06:53,318 --> 01:06:55,538
and you want it to happen now

1312
01:06:55,538 --> 01:06:57,218
you just have to

1313
01:06:57,218 --> 01:07:00,198
come to grips with the fact that it's not just going to happen now

1314
01:07:00,198 --> 01:07:00,858
it takes time

1315
01:07:00,858 --> 01:07:03,018
but we can accelerate it

1316
01:07:03,018 --> 01:07:04,458
we should accelerate it

1317
01:07:04,458 --> 01:07:05,538
yes

1318
01:07:05,538 --> 01:07:08,638
massive accelerationist vibes right now

1319
01:07:08,638 --> 01:07:09,238
accelerate

1320
01:07:09,238 --> 01:07:10,918
yeah

1321
01:07:10,918 --> 01:07:12,798
um

1322
01:07:12,798 --> 01:07:16,018
awesome

1323
01:07:16,018 --> 01:07:18,758
stay up with stack sets

1324
01:07:18,758 --> 01:07:20,358
peace and love freaks

1325
01:07:20,358 --> 01:07:22,098
peony