1 00:00:00,000 --> 00:00:10,640 Music. 2 00:00:10,481 --> 00:00:14,001 Welcome in to Episode 8 of This Week in Bitcoin. 3 00:00:14,881 --> 00:00:18,261 My name is Chris. Did you enjoy the crazy feast bikes post-having? 4 00:00:19,001 --> 00:00:23,121 Things seem to be settling down as I record. But even in that small window of 5 00:00:23,121 --> 00:00:26,861 time, we saw more adoption of Layer 2 solutions by different application creators. 6 00:00:26,921 --> 00:00:29,321 So that was interesting. I just really jumped on that. 7 00:00:30,621 --> 00:00:33,421 I guess we probably all expected humans were going to human. 8 00:00:33,421 --> 00:00:39,361 But as I was looking at the bidding just before I hit record, the Epic halving set, 9 00:00:39,641 --> 00:00:49,561 which is the first Satoshi from block 840,000, that one set is currently going for about 5.5 Bitcoin. 10 00:00:50,061 --> 00:00:56,581 Yeah, you heard me right. One set is going for just over 5.5 Bitcoin right now. 11 00:00:56,581 --> 00:01:00,061 I guess i'm not so so surprised 12 00:01:00,061 --> 00:01:03,061 right that i think it's like the first sat 13 00:01:03,061 --> 00:01:05,821 in block 840 000 which was the 14 00:01:05,821 --> 00:01:08,961 having block according to the ordinal's numbering 15 00:01:08,961 --> 00:01:12,361 system that's a that's a rare satoshi i feel 16 00:01:12,361 --> 00:01:15,141 silly even talking about it but like i said humans are 17 00:01:15,141 --> 00:01:17,781 going to human it's going to be interesting to watch how this 18 00:01:17,781 --> 00:01:20,781 develops because i'm going to keep an eye on this because the news to me here 19 00:01:20,781 --> 00:01:24,301 is that we're valuing 20 00:01:24,301 --> 00:01:28,281 one sat more than another sat that somehow 21 00:01:28,281 --> 00:01:34,321 a sat is all all of a sudden very special and i think this kind of concerns 22 00:01:34,321 --> 00:01:40,101 me a little bit i'm not quite sure why but i can't help but feel like this is 23 00:01:40,101 --> 00:01:43,441 going to be human behavior and i i want you to boost in with your thoughts i 24 00:01:43,441 --> 00:01:47,361 have a question for you because i bet you it's easy to say this is 25 00:01:47,401 --> 00:01:50,221 silly and this is ridiculous but frame 26 00:01:50,221 --> 00:01:53,041 it like this would you pay a little 27 00:01:53,041 --> 00:01:59,901 extra to own one of satoshi's original sats maybe from the genesis block you 28 00:01:59,901 --> 00:02:04,081 know i mean this is a theory just totally theoretical like somehow these came 29 00:02:04,081 --> 00:02:09,801 up for sale satoshi satoshi shows back up on the scenes like hey everybody i 30 00:02:09,801 --> 00:02:12,501 need a little money the price has gone up a little bit. 31 00:02:14,241 --> 00:02:17,941 I'm going to sell one of these I'm going to sell a few of these sats and each 32 00:02:17,941 --> 00:02:20,621 one of these you know they're going to go for like, 33 00:02:21,721 --> 00:02:25,641 one sat one of Satoshi's sats is going to go for 10,000 sats not a whole bitcoin 34 00:02:25,641 --> 00:02:30,181 just 10,000 sats for one Satoshi's sat would you be willing to do that. 35 00:02:32,681 --> 00:02:36,621 That's the mind game I've been playing with myself. I think I might. 36 00:02:38,241 --> 00:02:41,401 I'd like to know what you would do. Let me know. I am off to LinuxFest Northwest 37 00:02:41,401 --> 00:02:44,141 this weekend, so come say hi if you're in the Pacific Northwest. 38 00:02:44,601 --> 00:02:47,921 I just got back from Austin, Texas, and now I'm going to the Bellingham Technical 39 00:02:47,921 --> 00:02:50,781 College, April 26th and the 28th, 2024. 40 00:02:51,461 --> 00:02:54,161 If you're around on Saturday, I'll be doing some barbecuing, 41 00:02:54,181 --> 00:02:55,961 and on Sunday, I'll be doing Linux Unplugged Live. 42 00:02:56,921 --> 00:03:00,301 You know, it could be a lot of fun. It's probably not going to be, 43 00:03:00,361 --> 00:03:04,021 you know, oh, Oh, you guys will understand and appreciate this, 44 00:03:04,121 --> 00:03:06,361 actually. None of the other shows, anybody appreciates this. 45 00:03:07,281 --> 00:03:15,161 It drives me crazy when I'm at Linux Fest because their campus is the Bellingham Technical College. 46 00:03:15,301 --> 00:03:17,301 Well, guess what they shortened that to? BTC. 47 00:03:18,381 --> 00:03:23,661 So I see BTC everywhere, all over the place. BTC, BTC, BTC. And it's never about Bitcoin. 48 00:03:25,241 --> 00:03:29,301 It's rough. It could be a lot worse, though. Samurai Wallet founders have been 49 00:03:29,301 --> 00:03:32,681 arrested and charged with money laundering in the Southern District of New York. 50 00:03:33,121 --> 00:03:37,141 But our prosecutors charged the Samurai Wallet founders Rodriguez and Hill today. 51 00:03:37,221 --> 00:03:41,841 The pair are charged with conspiracy to commit money laundering and conspiracy 52 00:03:41,841 --> 00:03:45,121 to operate an unlicensed money transmitting business. 53 00:03:46,161 --> 00:03:50,281 Side note here, I think we're going to be hearing a lot more unlicensed money 54 00:03:50,281 --> 00:03:53,821 transmitted business accusations getting thrown around in the future. 55 00:03:55,619 --> 00:04:00,639 These charges carry a maximum sentence of 20 years and five years, respectively. 56 00:04:01,099 --> 00:04:06,759 Rodriguez, 35, and Hill, 65, collected approximately $4.5 million in fees for 57 00:04:06,759 --> 00:04:09,139 their, quote, mixing service, according to prosecutors. 58 00:04:10,399 --> 00:04:14,739 Rodriguez was arrested on Wednesday morning, and it will be arranged in Pennsylvania 59 00:04:14,739 --> 00:04:19,119 either later today, as I record, or tomorrow, as you're probably listening to this. 60 00:04:19,839 --> 00:04:23,339 According to the press release, Hill was Samurai Walt's CTO. 61 00:04:24,479 --> 00:04:27,159 He's been arrested in portugal and will be 62 00:04:27,159 --> 00:04:31,699 extradited to the u.s so rodriguez is in pennsylvania hill 63 00:04:31,699 --> 00:04:35,219 is in portugal right now and extradited to the u.s i 64 00:04:35,219 --> 00:04:38,359 have some of the highlights here so yeah a conspiracy to commit money laundering 65 00:04:38,359 --> 00:04:41,779 conspiracy to operate unlicensed money transmitter business those are not too 66 00:04:41,779 --> 00:04:47,139 surprising anybody that follows this kind of stuff we've seen this before here's 67 00:04:47,139 --> 00:04:53,539 where it kind of gets a little um specific they the uh prosecutors claimed that 68 00:04:53,539 --> 00:04:55,959 they facilitated over 2 billion in unlawful transactions. 69 00:04:56,159 --> 00:05:01,239 That's a huge number enabled 100 million in money laundering from dark web markets. 70 00:05:02,439 --> 00:05:07,779 Uh, they also claim that they went on Twitter and encouraged money laundering, 71 00:05:08,639 --> 00:05:12,259 um, encouraged people like, uh, avoiding exchange, uh, sanctions. 72 00:05:12,299 --> 00:05:18,019 And I have screenshots in, in the announcement that they have over on the U S government website. 73 00:05:18,179 --> 00:05:20,559 I'll, I'll put a link to it in the show notes. They got screenshots of like 74 00:05:20,559 --> 00:05:23,719 their Twitter feeds. I mean, it, It's pretty rough, guys. 75 00:05:24,879 --> 00:05:27,719 They say, quote, they encourage money laundering via Twitter. 76 00:05:27,819 --> 00:05:30,799 They marketed specifically to criminals for privacy evasion. 77 00:05:31,079 --> 00:05:35,059 And they acknowledged that they receive revenue from dark slash gray market 78 00:05:35,059 --> 00:05:40,079 participants and that they even sort of boasted about that to potential investors. 79 00:05:43,160 --> 00:05:48,180 And they've got some quotes. They've got like, somehow they've got messages. 80 00:05:48,380 --> 00:05:51,520 I'm going to keep following this, but they seem to have some messages where 81 00:05:51,520 --> 00:05:56,060 they were boasting in multiple cases about taking money from dark gray markets 82 00:05:56,060 --> 00:05:59,120 and about how their niche is dark gray markets. 83 00:05:59,200 --> 00:06:00,180 They're never going to be mainstream, 84 00:06:00,300 --> 00:06:02,980 but their niche will be dark gray markets, and that's good money. 85 00:06:04,480 --> 00:06:08,640 Quote, at Samurai, we're entirely focused on the censorship resistance and black 86 00:06:08,640 --> 00:06:10,100 slash gray circular economy. 87 00:06:10,100 --> 00:06:13,640 Economy one private message attributed to hill this 88 00:06:13,640 --> 00:06:16,800 is all we have at this point quote this implies no foreseeable mass 89 00:06:16,800 --> 00:06:19,940 adoption although the black slash gray markets have already started 90 00:06:19,940 --> 00:06:23,020 to expand during covid and will continue to do so post covid 91 00:06:23,020 --> 00:06:26,100 and the 92 00:06:26,100 --> 00:06:29,180 prosecutors have that in a screenshot at this 93 00:06:29,180 --> 00:06:32,660 time i don't know where they got it from but it appears to be attributed to 94 00:06:32,660 --> 00:06:39,600 hill one of the co-founders of samurai wallet and um the other kind of wider 95 00:06:39,600 --> 00:06:44,480 context here is that the doj is preparing for an upcoming trial against roman 96 00:06:44,480 --> 00:06:49,080 storm who's a developer and co-founder of the tornado cash mixing service on ethereum. 97 00:06:50,900 --> 00:06:54,860 And that case is being pursued by the doj southern district of new york division, 98 00:06:55,480 --> 00:06:59,960 and recently the doj's washington dc unit successfully won a conviction against 99 00:06:59,960 --> 00:07:04,080 roman Roman Sterling of Sterling of that's I know my bad. 100 00:07:05,180 --> 00:07:10,520 But as you might recall, he was the operator of the crypto mixer Bitcoin fog. 101 00:07:11,600 --> 00:07:13,880 And they got him on money laundering charges. 102 00:07:16,504 --> 00:07:19,724 So this is, they're building momentum here. 103 00:07:20,064 --> 00:07:23,084 They're knocking them down and they're building momentum. And now they're operating 104 00:07:23,084 --> 00:07:25,944 with more and more international partners on these. 105 00:07:26,844 --> 00:07:31,004 And they're expanding. And the only real solution here for end users to avoid 106 00:07:31,004 --> 00:07:33,604 any third-party risk is full custodial services. 107 00:07:35,104 --> 00:07:38,884 In reality, it means, you know, if you have to use a custodial lightning wallet 108 00:07:38,884 --> 00:07:40,444 for a bit, you know, quote-unquote have to. 109 00:07:40,444 --> 00:07:43,184 To um that means don't leave a lot of money on there 110 00:07:43,184 --> 00:07:45,964 and have a full custody solution for the money you 111 00:07:45,964 --> 00:07:48,624 really care about i'll keep an eye on this 112 00:07:48,624 --> 00:07:52,044 and if you see any interesting stories please send them in maybe via boost or 113 00:07:52,044 --> 00:07:55,764 from the contact page i'd like to keep an eye on the story but i'll be on the 114 00:07:55,764 --> 00:07:59,184 go but it's definitely going to be an important one that again just sets more 115 00:07:59,184 --> 00:08:02,224 precedence now on monday we 116 00:08:02,224 --> 00:08:07,864 had some good news bitcoin got five new bip editors so what's a bip Yep. 117 00:08:08,164 --> 00:08:13,064 Well, it's a Bitcoin improvement proposal. It's a way for the community in a 118 00:08:13,064 --> 00:08:16,804 wider context to suggest improvements or propose improvements to Bitcoin. 119 00:08:19,084 --> 00:08:24,324 And this has also also been adopted in other projects, too, like the podcasting 2.0 project. 120 00:08:24,704 --> 00:08:29,404 And so you get a bit editors help make it into the best possible bit possible, 121 00:08:29,504 --> 00:08:33,164 just something that is not only a good historical document, but gives people 122 00:08:33,164 --> 00:08:35,064 context when they come to analyze the issue. 123 00:08:35,064 --> 00:08:39,364 Because if something major does happen and get accepted, it could become sort 124 00:08:39,364 --> 00:08:40,964 of a historical improvement proposal. 125 00:08:41,324 --> 00:08:44,664 And so you want these things to really kind of stand the test of time. 126 00:08:45,164 --> 00:08:49,464 And there's only so much one editor can do. And Luke Dasher says he was just 127 00:08:49,464 --> 00:08:52,144 backlogged. He's the primary editor for Bips right now. 128 00:08:52,424 --> 00:08:56,044 And he reached out for help on the mailing list. And some well-known existing 129 00:08:56,044 --> 00:08:57,604 expert contributors were suggested. 130 00:08:58,384 --> 00:09:02,864 They seem to mostly have support. This process is kind of funny the way it works. 131 00:09:04,541 --> 00:09:10,241 There is a voting, and then if there's really no fighting and no massive reasons 132 00:09:10,241 --> 00:09:13,321 not to go for somebody or like a strong vote that goes the wrong way, 133 00:09:13,481 --> 00:09:18,521 it's sort of like when there's a lack of activity, that's when they've reached consensus. 134 00:09:19,021 --> 00:09:22,741 It's a funny way they do this. And so after Luke asked for some help, 135 00:09:22,821 --> 00:09:24,421 there was some formality discussions. 136 00:09:24,941 --> 00:09:28,621 And then the day after the halving, 420, Ava Chow wrote, quote, 137 00:09:28,741 --> 00:09:31,921 there's not really been any actual objections to the nominees, 138 00:09:32,121 --> 00:09:36,861 nor have there been any suggestions on choosing a subset of them since my last email. 139 00:09:36,941 --> 00:09:39,901 As such, there is rough consensus. 140 00:09:41,881 --> 00:09:48,201 Now, to the outsider, that seems like odd. But Ava actually addresses why rough 141 00:09:48,201 --> 00:09:52,501 consensus is exactly what they're looking for. Quote, I don't want this process 142 00:09:52,501 --> 00:09:56,461 to become a popularity contest and require some kind of formal voting. 143 00:09:56,661 --> 00:10:00,981 Rather, I'd prefer that this process be something more like how Bitcoin core 144 00:10:00,981 --> 00:10:04,841 maintainers are added by achieving rough consensus. 145 00:10:05,961 --> 00:10:10,441 And thus, we have five new editors. That should be really interesting. 146 00:10:10,921 --> 00:10:14,561 I think other open source projects should also look at the BIP process. 147 00:10:14,561 --> 00:10:18,921 It is, you know, I mean, getting things into Bitcoin is not easy and it's not 148 00:10:18,921 --> 00:10:21,141 a quick process, but it starts with the BIP. 149 00:10:22,241 --> 00:10:24,241 And then it's quite the journey from there. 150 00:10:28,581 --> 00:10:34,021 Some bad news for El Salvador users, though. Some Chiva Walt source code and 151 00:10:34,021 --> 00:10:37,301 keys related to VPN access seem to have been leaked. 152 00:10:37,301 --> 00:10:44,761 The cyber hacker group, the attackers, go by Cyber Intelligentsia SV. 153 00:10:45,401 --> 00:10:49,221 They put the SV on the end of their hacker name so that way you really know 154 00:10:49,221 --> 00:10:52,541 they're from El Salvador. There can be no doubt about where they're from. 155 00:10:53,261 --> 00:10:56,221 And they have leaked snippets of the Chivo wallet source code. 156 00:10:56,881 --> 00:11:00,721 Now, the Chivo wallet has been a constant source of controversy because it's 157 00:11:00,721 --> 00:11:03,721 a custodial wallet essentially run by the El Salvadorian government. 158 00:11:03,721 --> 00:11:09,601 And they incentivized users by giving them some free money if they downloaded this wallet. 159 00:11:10,941 --> 00:11:14,141 And I think, you know, with hindsight, it's pretty easy to say it wasn't a great 160 00:11:14,141 --> 00:11:17,321 idea, but the El Salvadorian government was looking for something that they 161 00:11:17,321 --> 00:11:21,561 could roll out and have some level of support and control over. 162 00:11:22,181 --> 00:11:26,421 You know, it's a big transition to go from banks to a wallet. 163 00:11:27,661 --> 00:11:30,321 You could kind of see it from their perspective, but as Bitcoiners, 164 00:11:30,341 --> 00:11:32,021 we know, boy, that's never going to go well. 165 00:11:32,801 --> 00:11:37,381 And it doesn't require that you use Chivo down there. You can use any Bitcoin 166 00:11:37,381 --> 00:11:38,561 wallet, any Lightning wallet. 167 00:11:39,441 --> 00:11:42,961 The Chivo was the one that was sort of encouraged by everybody and had all the 168 00:11:42,961 --> 00:11:46,101 branding behind it. So it's got a fair amount of users. Now it doesn't sound like. 169 00:11:47,608 --> 00:11:52,708 This has resulted in access to their Bitcoin. It's more like just wallet source 170 00:11:52,708 --> 00:11:56,288 code, which maybe then could be sifted through for bugs and then at some point 171 00:11:56,288 --> 00:11:57,868 lead to some sort of problem. 172 00:11:58,568 --> 00:12:01,948 According to the blog, the hackers released the stolen information to the public 173 00:12:01,948 --> 00:12:07,428 to, quote, punish the Salvadorian government for, quote, refusing to engage with them. 174 00:12:08,188 --> 00:12:12,708 Although we don't really have specifics on what they want to be engaged over, 175 00:12:12,988 --> 00:12:14,428 I have some speculation. 176 00:12:15,208 --> 00:12:18,268 The group did recently leak a bunch of other databases 177 00:12:18,268 --> 00:12:21,168 about 5.1 million salvadorians were impacted 178 00:12:21,168 --> 00:12:24,128 by that i could see there just being something 179 00:12:24,128 --> 00:12:27,548 around all of that but apparently they're 180 00:12:27,548 --> 00:12:31,288 not getting any response from the el salvadorian government around this i haven't 181 00:12:31,288 --> 00:12:34,408 seen anything official from chivo this isn't getting a lot of attention but 182 00:12:34,408 --> 00:12:38,148 it's sort of been bubbling up over uh the week so i wanted to give a shout out 183 00:12:38,148 --> 00:12:42,308 to no bs bitcoin because they're the ones that i think really brought the most 184 00:12:42,308 --> 00:12:45,208 attention to this and they've been doing a killer job this week, 185 00:12:45,288 --> 00:12:47,088 so I've decided to throw them in the splits. 186 00:12:47,808 --> 00:12:52,808 So if you do boost in this week, I'm going to give a split over to NoBSBitcoin 187 00:12:52,808 --> 00:12:54,568 for really doing just fantastic work. 188 00:12:58,028 --> 00:12:59,868 Okay, coming up, your boosts, project 189 00:12:59,868 --> 00:13:04,688 updates, and my bulletproof stacker self-custody guide. You asked for it. 190 00:13:04,968 --> 00:13:10,588 It's coming up. But first, a big shout out to Podhome.fm, my podcasting 2.0 191 00:13:10,588 --> 00:13:18,088 platform with unlimited episodes and Podhome AI that can auto-suggest chapters, titles. 192 00:13:18,908 --> 00:13:23,668 It's really, really powerful. It also has the easiest live stream support with 193 00:13:23,668 --> 00:13:26,188 full podcasting 2.0 lit integration. 194 00:13:26,668 --> 00:13:30,528 You can do value for value music streaming, unlimited shows and episodes. 195 00:13:30,968 --> 00:13:36,408 Just use my promo code TWIB. That's TWIB and you get the first three months 196 00:13:36,408 --> 00:13:41,568 for free and see why I'm loving Podhome for all my podcasting 2.0 posting. 197 00:13:41,728 --> 00:13:44,848 It's quick, too. The downloads are wicked fast. 198 00:13:45,688 --> 00:13:49,668 So many nice features, and it's like having a whole team in your back pocket when you go to post. 199 00:13:51,155 --> 00:13:54,215 Now, we do have some boosts to get into this week, so let's do it. 200 00:13:55,655 --> 00:14:02,035 Jeremy Ross is our baller booster this week, who comes in with 23,500 sats. 201 00:14:06,075 --> 00:14:10,395 Send in from Castomatic with no message, though. I do appreciate that support, 202 00:14:10,575 --> 00:14:13,775 Jeremy. If you meant to send a message, just let me know. But I really appreciate it. 203 00:14:13,955 --> 00:14:17,195 The Podfather's not far behind, though, with 15,000 sats. 204 00:14:17,355 --> 00:14:20,335 Mr. Adam Curry comes in via Podcast Guru. i hoard 205 00:14:20,335 --> 00:14:23,455 that which your kind covered friday night 206 00:14:23,455 --> 00:14:26,595 drinking wine and texas boost whoo you 207 00:14:26,595 --> 00:14:29,255 know i was just in texas uh possibly when you sent 208 00:14:29,255 --> 00:14:33,195 that boost when it's um yeah i was 209 00:14:33,195 --> 00:14:37,735 probably on my way home that day thank you podfather appreciate that and uh 210 00:14:37,735 --> 00:14:45,655 jc denton comes in with 2100 sats happy having here is a post having sat oh 211 00:14:45,655 --> 00:14:52,735 are those very special jcd are those uh uh are Are those like special sats? Are they epic? 212 00:14:54,575 --> 00:14:59,215 Appreciate that, JC Denton. Oppie 1984 comes in with 4,000 sats. 213 00:14:59,995 --> 00:15:05,475 When it comes to cold storage of my Bitcoin, I went old school and printed off 214 00:15:05,475 --> 00:15:09,795 a paper wallet with an air gap machine and just store the paper wallet in my fireproof safe. 215 00:15:10,175 --> 00:15:12,375 I just keep the public address in a text editor. 216 00:15:12,995 --> 00:15:15,915 And in a sync thing folder occasionally that gets backed up. 217 00:15:15,995 --> 00:15:18,835 I also keep the soundboard. It's like your piece of flair. 218 00:15:18,835 --> 00:15:24,215 He says also keep the soundboard It's like your pieces of flair There is always a minimum of flair, 219 00:15:25,015 --> 00:15:28,335 Paper wallet I'd like to hear opinions on the paper wallet I have heard people 220 00:15:28,335 --> 00:15:32,735 shouldn't be using paper wallets anymore But it seems like that's a workflow 221 00:15:32,735 --> 00:15:36,595 That's working for you So I can't really say no. 222 00:15:37,625 --> 00:15:41,825 Oh, there he is. Adversary 17 comes in with 8,000 sats. Boost! 223 00:15:42,305 --> 00:15:46,165 No message, though. Just sending in a big old boost over Fountain. Appreciate it. 224 00:15:46,805 --> 00:15:49,665 You know, all these boosts help us get up on the Discovery page, 225 00:15:49,745 --> 00:15:51,025 too, so people can find the new show. 226 00:15:51,865 --> 00:15:55,085 And I also really appreciate that. Chad F. 227 00:15:55,125 --> 00:15:58,785 Comes in with 3,222 sats and says, Thanks for covering Runes. 228 00:15:59,085 --> 00:16:00,685 I hadn't heard of it until today. 229 00:16:01,065 --> 00:16:05,285 And then he also sent 1,000 sats to our artist for the end track, June and the Jets. 230 00:16:05,925 --> 00:16:10,425 Thank you for doing that, Chad. Chad, you are, Chad F, man, you know what? 231 00:16:10,465 --> 00:16:13,145 You deserve like a hot boost and a pew pew. 232 00:16:13,765 --> 00:16:17,965 You're always out there repping podcasting 2.0 and the value for value music, man. 233 00:16:18,365 --> 00:16:25,545 Really appreciate that. You're doing the people's work. The Muso comes in with 4,500 sats. 234 00:16:25,665 --> 00:16:27,425 I am programmed in multiple techniques. 235 00:16:28,305 --> 00:16:32,505 The What Bitcoin Did podcast covered the runes and ordinal stuff a few months 236 00:16:32,505 --> 00:16:36,365 back. Zach, I particularly enjoyed an episode with the Bitcoin mechanic and 237 00:16:36,365 --> 00:16:40,145 his argument against anything that is not a monetary transaction on the blockchain. 238 00:16:40,465 --> 00:16:43,285 I'd already agreed with him prior to listening to this episode, 239 00:16:43,345 --> 00:16:44,725 but afterwards I agree even more. 240 00:16:45,045 --> 00:16:50,465 In my opinion, anything on the Bitcoin blockchain that is not a monetary transaction 241 00:16:50,465 --> 00:16:52,685 devalues Bitcoin as a whole. 242 00:16:53,585 --> 00:16:58,505 Let the shitcoin blockchains keep their shitcoin tokens, I say. Oh, I love that hot take. 243 00:16:59,065 --> 00:17:02,405 You know, so Musa, that's what I'm oscillating to as well. 244 00:17:02,725 --> 00:17:06,225 It's like it should only be monetary uses on Bitcoin because we got all these 245 00:17:06,225 --> 00:17:09,325 other crap currencies that people can go out there and play around with. 246 00:17:09,925 --> 00:17:17,425 However, I think it is also the actual valuable scarce nature of Bitcoin that 247 00:17:17,425 --> 00:17:21,525 makes it kind of attractive to people to play around like this. 248 00:17:21,665 --> 00:17:22,625 You see what I'm saying? Yeah. 249 00:17:24,203 --> 00:17:27,223 And if we're going to go around and say rocks have value and digital tokens 250 00:17:27,223 --> 00:17:29,943 have value, I just, where are you going to draw the line, Musa? 251 00:17:30,043 --> 00:17:32,583 Where are you going to draw the line? Now, I like that you have a line. 252 00:17:33,203 --> 00:17:35,323 And that is anything that's not a monetary transaction. 253 00:17:38,703 --> 00:17:42,223 But ordinals are technically monetary transactions. I don't know, 254 00:17:42,263 --> 00:17:44,483 man. Crashmaster comes in with a row of ducks. 255 00:17:46,463 --> 00:17:50,243 2,222 sats on Podverse. Keep up the good work, Chris. If you tweak the show 256 00:17:50,243 --> 00:17:53,123 at all, perhaps consider incorporating more Bitcoin mining and cold old wallet 257 00:17:53,123 --> 00:17:56,023 software stack reviews as updates on even occasional how-tos. 258 00:17:56,503 --> 00:17:58,383 Maybe these could be subscriber special episodes. 259 00:17:59,643 --> 00:18:06,063 Kind of dig the idea of checking in on software stacks. 260 00:18:06,343 --> 00:18:09,903 We're going to do that in this episode a little bit. I'll talk more about that in a moment. 261 00:18:10,623 --> 00:18:16,263 But I like the idea of my stack is always kind of not actively changing. 262 00:18:16,323 --> 00:18:19,463 In fact, the rate of change has slowed the software stack that I use to manage, 263 00:18:19,603 --> 00:18:22,523 buy, and sell, very rarely sell Bitcoin. 264 00:18:23,843 --> 00:18:28,063 In fact i don't generally sell bitcoin so much as i'll use something like the bitcoin company, 265 00:18:29,243 --> 00:18:33,463 and that's really just for business purposes sometimes it's kind of tricky right 266 00:18:33,463 --> 00:18:38,463 because for me i really want my primary thing is is i want to privately store for a long term, 267 00:18:39,503 --> 00:18:42,283 selling is mostly going to happen over lightning or something like that it's 268 00:18:42,283 --> 00:18:45,543 going to be small little things or a boost it's not going to be like um you 269 00:18:45,543 --> 00:18:50,763 know a house or a car or something So that stack is generally relatively static, 270 00:18:50,903 --> 00:18:55,263 but it does change and evolve as the Bitcoin network fees change and things 271 00:18:55,263 --> 00:18:58,143 like that and layer two solutions and things like FedEmit come along. 272 00:19:00,752 --> 00:19:06,292 It does sort of require that you kind of not necessarily change the tooling, 273 00:19:06,412 --> 00:19:09,332 but just kind of keep current with it. And that's something I should probably 274 00:19:09,332 --> 00:19:11,732 give thought to how I could keep that up to date in the show. 275 00:19:11,832 --> 00:19:13,412 I will give that more thought, Crashmaster. 276 00:19:14,532 --> 00:19:17,592 And I definitely am down for incorporating more Bitcoin mining news. 277 00:19:17,672 --> 00:19:19,852 I just need to get some good, solid sources. 278 00:19:20,452 --> 00:19:24,072 The Bitcoin mining industry is very quiet, very hush-hush. 279 00:19:24,412 --> 00:19:29,872 They talk amongst each other a lot, but they don't talk with outsiders of the mining industry much. 280 00:19:30,752 --> 00:19:34,112 I think because of just persecution in the past and all kinds of things like. 281 00:19:34,112 --> 00:19:37,652 That. So last thing they really want to do is draw attention to themselves at all. 282 00:19:38,352 --> 00:19:41,532 You can see why they're not super excited to like come run into a guy like me. 283 00:19:42,332 --> 00:19:46,892 But I am definitely down for just sharing more about what's going on at that layer. 284 00:19:47,792 --> 00:19:52,512 Mega Strike 3 comes in with 5,100 sets. Keep the change, you filthy animal. 285 00:19:52,912 --> 00:19:56,772 I was sad to see the Bitcoin dad pod go, but I'm loving this show and I'm glad 286 00:19:56,772 --> 00:20:00,732 the void was filled. As far as the wallet setup and Bitcoin purchasing process, 287 00:20:01,132 --> 00:20:04,872 I would absolutely love to hear a full episode dedicated to these topics. 288 00:20:04,932 --> 00:20:08,292 As a newbie, this would be super useful. Keep up the good work. 289 00:20:09,912 --> 00:20:14,172 Well, Megastrike, I am going to, in the resources section of the show this week, 290 00:20:14,272 --> 00:20:19,112 go into more extensive detail on the stack with a full list of links. 291 00:20:19,692 --> 00:20:24,332 And then I'll kind of be looking for your feedback on what I'm missing, 292 00:20:24,392 --> 00:20:27,112 what overview bits you're missing, and then I'll develop content around that. 293 00:20:27,792 --> 00:20:30,852 But I'm going to give you the fundamentals today, and then you can tell me what 294 00:20:30,852 --> 00:20:33,332 bits of the picture you still need filled in. 295 00:20:34,012 --> 00:20:37,092 ABC comes in with 5,000 sats. 296 00:20:38,832 --> 00:20:42,272 Yes, please do an episode outlining your current picks for software and services 297 00:20:42,272 --> 00:20:46,212 and your stack in 2024. Well, I have got good news. 298 00:20:46,972 --> 00:20:48,452 It's coming up in just a minute. 299 00:20:49,472 --> 00:20:53,632 LazyLox also comes in with 5,000 sats. B-O-O-S-T. 300 00:20:53,932 --> 00:20:57,652 Says thanks for another great episode. Thank you, LazyLox. Every boost really 301 00:20:57,652 --> 00:20:59,332 matters. Thank you very much. 302 00:21:00,032 --> 00:21:03,412 Jin from Matik comes in with 2,000 sats. 303 00:21:03,872 --> 00:21:07,612 Great episode. I like the intro music. It gives me goosebumps every time. 304 00:21:07,972 --> 00:21:12,592 Thank you. that is the classic wonderful ronald jenkins he says it's great that 305 00:21:12,592 --> 00:21:16,512 you're continuing your own bitcoin podcast after the bitcoin dad pod stop please 306 00:21:16,512 --> 00:21:19,632 give a shout out to wallet scrutiny.com, 307 00:21:20,492 --> 00:21:23,272 so plebs can choose verify and compare how their 308 00:21:23,272 --> 00:21:27,972 bitcoin wallet is built that's wallet scrutiny.com i 309 00:21:27,972 --> 00:21:31,612 will try to put a link to that in the show notes i'll go 310 00:21:31,612 --> 00:21:34,872 grab that right now for you guys to know 311 00:21:34,872 --> 00:21:37,752 your wallet like you built it not everyone 312 00:21:37,752 --> 00:21:41,532 is a developer and not everyone has to be as their slogan that's pretty 313 00:21:41,532 --> 00:21:44,312 good jim that's pretty good thank you for sending that in 314 00:21:44,312 --> 00:21:47,712 i really appreciate that thank you everybody who boosted in i got 315 00:21:47,712 --> 00:21:51,672 900 sats from pothome who said happy havening dive value 316 00:21:51,672 --> 00:21:54,792 for episode seven from ace crackerman 317 00:21:54,792 --> 00:21:58,012 thank you everybody 318 00:21:58,012 --> 00:22:01,652 who boosted and we have a 2000 sat cut off just for time right there but i do 319 00:22:01,652 --> 00:22:06,192 like to give people like nicole gave a boost to the uh to our song last week 320 00:22:06,192 --> 00:22:10,092 sent the artist 500 sats thank you nicole for doing that we had 19 boosters 321 00:22:10,092 --> 00:22:16,192 this week 85 237 sats not incredible but gets us a sega. 322 00:22:17,672 --> 00:22:20,832 And i do appreciate that and some really great quality 323 00:22:20,832 --> 00:22:25,492 boosts too so not like blow away amounts of boosts saving that 324 00:22:25,492 --> 00:22:28,152 link for you right now but really great quality i'd love to hear your your 325 00:22:28,152 --> 00:22:32,252 feedback would you buy some of satoshi's sats also your 326 00:22:32,252 --> 00:22:35,832 thoughts on anything that i'm about to when i cover my my self-stacking 327 00:22:35,832 --> 00:22:38,512 bulletproof guide any gaps you need filled in 328 00:22:38,512 --> 00:22:41,892 please boost those in and let me know so i can start working on that for you and 329 00:22:41,892 --> 00:22:44,632 with that that is all of our boosts for this week if you'd like to send a boost 330 00:22:44,632 --> 00:22:48,412 into the show just get a new podcast app there's a whole new world of podcast 331 00:22:48,412 --> 00:22:52,492 apps that have all kinds of services and they're getting better and better you 332 00:22:52,492 --> 00:22:57,072 just go to podcastapps.com fountain has been crushing it with new releases fixing 333 00:22:57,072 --> 00:22:59,512 and polishing speed and enhancing the UI. 334 00:22:59,852 --> 00:23:04,352 And of course, Podverse is cross-platform, GPL available for Android, iOS, and the web. 335 00:23:04,592 --> 00:23:08,532 And then last but not least, you hear people boosting from Castomatic and PodcastGroove. 336 00:23:08,572 --> 00:23:10,772 There's so many great apps. Try them out, see which one you like, 337 00:23:10,892 --> 00:23:11,992 and then boost into the show. 338 00:23:11,920 --> 00:23:18,000 Music. 339 00:23:17,848 --> 00:23:23,108 I got project updates for you. I got project updates. I am so excited about 340 00:23:23,108 --> 00:23:24,928 the next major release of Zeus. 341 00:23:25,448 --> 00:23:28,848 It's currently an alpha alpha one stage right now. 342 00:23:28,908 --> 00:23:31,968 So I'm not necessarily encouraging that you use it, but I want to keep this 343 00:23:31,968 --> 00:23:38,488 on your radar because there are a lot of mobile options, but very few hold up to the feature, 344 00:23:38,588 --> 00:23:46,128 the power and security of Zeus on iOS and Android and version 0.9.0 is out alpha one. 345 00:23:47,568 --> 00:23:53,708 First feature in here that i think is just so great it has a watch only account import from xpub, 346 00:23:54,488 --> 00:23:57,508 in other words you could have your cold wallet 347 00:23:57,508 --> 00:24:03,348 offline somewhere we're even receiving like your dca dumps into it just like 348 00:24:03,348 --> 00:24:06,888 you're never actually plugging the cold wallet in you're never even booting 349 00:24:06,888 --> 00:24:11,748 up the computer that has the software on it you're just from from like a from 350 00:24:11,748 --> 00:24:14,568 another wallet from whatever you're wherever you're getting your stats you're 351 00:24:14,568 --> 00:24:16,388 sending to there over time and you You just want to check on it. 352 00:24:17,108 --> 00:24:21,348 Or this could be great for family members where you're stacking for them and 353 00:24:21,348 --> 00:24:23,908 they want to be able to check on their balance, but they can't really do anything 354 00:24:23,908 --> 00:24:26,448 else but just check on it. A watch-only account import. 355 00:24:26,608 --> 00:24:29,068 Oh, gosh, I've wanted this feature for so long. 356 00:24:29,748 --> 00:24:33,908 It's so great to see Zeus bringing this. Also, another fantastic feature, 357 00:24:34,068 --> 00:24:36,388 hardware wallet support, you guys. 358 00:24:37,608 --> 00:24:41,448 Signing device support, like cold card, seed signer, et cetera. 359 00:24:42,568 --> 00:24:44,988 And then on the Lightning side, they got batch channel opens. 360 00:24:44,988 --> 00:24:46,768 Yes, that's right. Batch channel opens. 361 00:24:46,988 --> 00:24:51,148 The batch channel opens, which will, well, it'll open up channels and batches 362 00:24:51,148 --> 00:24:54,448 and keep things cheaper and batch on-chain transactions as well. 363 00:24:56,125 --> 00:25:01,745 Man, Zeus is really looking good. And I'll let you know when I see that version 364 00:25:01,745 --> 00:25:05,685 actually ship stable because that is some great hardware wallet support, you guys. 365 00:25:06,665 --> 00:25:12,345 Strike has a really big update this week. They now are rolling out in Europe. 366 00:25:12,505 --> 00:25:17,145 Yo, we just launched Strike Europe. 367 00:25:17,345 --> 00:25:22,045 Ladies and gentlemen, it is live today, right now. Now check your app stores 368 00:25:22,045 --> 00:25:25,845 for all eligible European customers. Strike is available. 369 00:25:26,405 --> 00:25:29,845 Let's go. I am pumped. It actually looks really great. 370 00:25:29,945 --> 00:25:34,545 And it's going to make it even easier now for people to stack sats on a really decent platform. 371 00:25:34,725 --> 00:25:37,645 I think Strike is a solid platform and it's got lightning support. 372 00:25:37,865 --> 00:25:40,885 It's got a good set of people behind it. It's great to see it expand. 373 00:25:40,885 --> 00:25:47,905 Band okay here 374 00:25:47,905 --> 00:25:53,025 is my bulletproof stacker self-custody guide you do this i don't think you can 375 00:25:53,025 --> 00:25:57,245 go wrong nobody's gonna get fired for following this process i recommend you 376 00:25:57,245 --> 00:26:02,265 buy sats on river i will put links in the show notes that river link will be an affiliate link, 377 00:26:02,725 --> 00:26:05,765 um strike is also good like i just mentioned you basically you 378 00:26:05,765 --> 00:26:09,345 want something with solid lightning support there's various 379 00:26:09,345 --> 00:26:12,185 levels of good here and not so good you 380 00:26:12,185 --> 00:26:14,805 know and robo sats is on the spectrum links to all of 381 00:26:14,805 --> 00:26:17,765 that but for the bulletproof newbie i 382 00:26:17,765 --> 00:26:21,785 say you buy your sats on river you just need to make sure you have something 383 00:26:21,785 --> 00:26:26,005 that has lightning but we'll go with river for this and then on a regular routine 384 00:26:26,005 --> 00:26:29,185 at you stack your sats you make your you make your routine purchase on river 385 00:26:29,185 --> 00:26:35,785 that will build up a balance you send that balance over lightning to the aqua wallet. 386 00:26:36,925 --> 00:26:41,765 The AquaWallet will swap your inbound Lightning into Liquid and store it in Liquid. 387 00:26:42,865 --> 00:26:46,465 When that peg into Liquid happens, which it will do on the backend for you automatically 388 00:26:46,465 --> 00:26:48,365 using the bolts.exchange API, 389 00:26:49,445 --> 00:26:53,485 when that pegs into Liquid, you essentially break the on-chain tracking. 390 00:26:53,825 --> 00:26:57,905 So most looky-loos will not be able to follow where those sats went. 391 00:26:58,265 --> 00:27:02,405 It doesn't mean that River doesn't have a record of how many sats you bought at what price, 392 00:27:03,285 --> 00:27:06,285 but it means somebody doing some chain analysis is going 393 00:27:06,285 --> 00:27:09,125 to have a much harder time tracking your sats how much 394 00:27:09,125 --> 00:27:12,005 they are where they went the liquid network is 395 00:27:12,005 --> 00:27:15,025 run by blockstream there's about 15 liquid functionalities that 396 00:27:15,025 --> 00:27:20,905 hold a key so it kind of acts like a giant multi-sig so in my view this is my 397 00:27:20,905 --> 00:27:26,125 opinion liquid is safer than any one exchange or company but it is not safer 398 00:27:26,125 --> 00:27:30,785 than private cold storage there's 15 keys that would all have to get rugged 399 00:27:30,785 --> 00:27:33,125 but But it's better than just one exchange, 400 00:27:33,265 --> 00:27:36,105 but it's, you know, it's long term, you know, 10, 15 year horizon. 401 00:27:36,945 --> 00:27:41,305 Private cold storage is better. So you accumulate in Aqua, that'll be on device. 402 00:27:41,505 --> 00:27:46,705 It's a mobile app with liquid, lightning and Bitcoin on-chain support. 403 00:27:48,240 --> 00:27:51,400 The goal you're doing, the reason why we're going from wherever you bought your Bitcoin, 404 00:27:51,660 --> 00:27:58,100 River, Strike, the reason why we're going from River or Strike to Aqua and not 405 00:27:58,100 --> 00:28:03,760 right into your cold storage is because we're trying to avoid small DCA-sized 406 00:28:03,760 --> 00:28:05,220 UTXOs in your final wall. 407 00:28:06,560 --> 00:28:10,200 Unlike, say, the Visa network or, like, I don't know, Wire Earning Money or 408 00:28:10,200 --> 00:28:15,260 Western Union, where they'll charge you a fee based on the amount of money you're transmitting. 409 00:28:15,260 --> 00:28:18,560 A percentage of the fee is like a 410 00:28:18,560 --> 00:28:21,300 hundred dollars we'll take a five percent fee i don't 411 00:28:21,300 --> 00:28:24,260 know i'm making numbers bitcoin charges on 412 00:28:24,260 --> 00:28:27,540 the size of the data of the transaction so lots 413 00:28:27,540 --> 00:28:30,620 of little utxos lots of little transactions actually take 414 00:28:30,620 --> 00:28:33,440 up more data in a block so you're 415 00:28:33,440 --> 00:28:36,160 going to get charged more in the future you know when 416 00:28:36,160 --> 00:28:38,900 the bitcoin fees the transaction fees are much 417 00:28:38,900 --> 00:28:42,000 higher you could outprice yourself 418 00:28:42,000 --> 00:28:45,360 you could have small UTXOs that you 419 00:28:45,360 --> 00:28:48,300 can't send because they're worth less than the fees required to send 420 00:28:48,300 --> 00:28:52,600 them you know I'll see people on Twitter talking about how they're DCAing on 421 00:28:52,600 --> 00:28:57,300 strike one dollar an hour well let me tell you something you're never going 422 00:28:57,300 --> 00:29:02,200 to be able to spend those sats even something that's less than a million sats 423 00:29:02,200 --> 00:29:05,600 could one day be hard to transfer on the Bitcoin network. 424 00:29:06,820 --> 00:29:09,960 There's always going to be lots of solutions, but ultimately you will at some 425 00:29:09,960 --> 00:29:12,240 point need to likely do an on-chain transaction. 426 00:29:13,460 --> 00:29:16,460 So what we do is we accumulate in Aqua, the Aqua wallet. 427 00:29:17,080 --> 00:29:19,520 But you could put anything in here, but I like the Aqua wallet because it's 428 00:29:19,520 --> 00:29:24,380 doing all of the pegging and lightning support for you in one place. 429 00:29:24,480 --> 00:29:26,180 And so you don't have to use multiple apps and services. 430 00:29:28,500 --> 00:29:31,440 You collect in there for a while. Personally, I'd say you want to get north 431 00:29:31,440 --> 00:29:33,440 of 2 million sats, but it's a comfort thing. 432 00:29:33,440 --> 00:29:36,360 You should go higher if you're comfortable with it but don't go too crazy high 433 00:29:36,360 --> 00:29:39,180 then you sweep once you're 434 00:29:39,180 --> 00:29:41,920 at that threshold from aqua into the 435 00:29:41,920 --> 00:29:44,660 sparrow wallet now sparrow you first need 436 00:29:44,660 --> 00:29:47,560 to get yourself a cold card you create a wallet using the cold card 437 00:29:47,560 --> 00:29:51,320 set up sparrow with all of that then you sweep into sparrow backed by your cold 438 00:29:51,320 --> 00:29:56,320 card that's your permanent savings then you need to save those seed phrases 439 00:29:56,320 --> 00:29:59,980 you need to save your pin you need to save vital information some way that works 440 00:29:59,980 --> 00:30:04,780 for you there's lots of cool ways to do that some really fun ones some products 441 00:30:04,780 --> 00:30:06,660 you can even buy if you want put it on metal. 442 00:30:08,280 --> 00:30:10,640 And you don't really touch it, 443 00:30:12,186 --> 00:30:18,106 And you're only sweeping to that when the amount in your temporary middle wallet 444 00:30:18,106 --> 00:30:21,186 reaches an amount that you're not comfortable losing. 445 00:30:22,006 --> 00:30:24,946 But you want it to be high enough that you could spend it in the future. 446 00:30:25,546 --> 00:30:28,226 There's not a real perfect answer here because we don't know what future fees 447 00:30:28,226 --> 00:30:31,626 are going to be like. But the idea is that you utilize something like the liquid 448 00:30:31,626 --> 00:30:33,306 network or maybe a Fedemit in one day. 449 00:30:33,506 --> 00:30:37,666 Like this is an area where maybe I'll update this once we have some really solid 450 00:30:37,666 --> 00:30:39,366 proved workflows there. 451 00:30:40,366 --> 00:30:43,526 But the idea is you kind of break the tracking you accumulate in 452 00:30:43,526 --> 00:30:46,826 liquid where it's really cheap to move things and hold things this 453 00:30:46,826 --> 00:30:50,686 is also if it's once you have it in the aqua wall or you have it in liquid maybe 454 00:30:50,686 --> 00:30:53,586 a fatimate in the future this is a great time to start divvying 455 00:30:53,586 --> 00:30:57,286 it up amongst family friends and kids if you want to don't do that crap on chain 456 00:30:57,286 --> 00:31:01,426 you could do it in layer two and save yourself a ton of money something like 457 00:31:01,426 --> 00:31:06,586 the aqua wallet or block stream green so for an individual this process works 458 00:31:06,586 --> 00:31:10,046 really smooth for families skip the aqua wallet and use something like Blockstream 459 00:31:10,046 --> 00:31:12,186 Green because it supports multiple sub-wallets. 460 00:31:12,726 --> 00:31:17,246 You can use bolts.exchange to go from lightning to liquid, so like from river 461 00:31:17,246 --> 00:31:18,826 to liquid, or whatever you're using, 462 00:31:19,406 --> 00:31:22,946 and then proceed later on to sweep to Sparrow backed by a cold card. 463 00:31:24,046 --> 00:31:27,726 This method lets you stack and build value in something like an Aqua Wallet 464 00:31:27,726 --> 00:31:31,386 or a Blockstream Green or whatever you like, maybe one day something like the 465 00:31:31,386 --> 00:31:32,646 Mutiny Wallet using a Fetament. 466 00:31:33,566 --> 00:31:38,166 You can get like an actual head start before you go blow $300 on a cold card. 467 00:31:38,166 --> 00:31:39,386 And cold cards go on sale. 468 00:31:39,546 --> 00:31:43,686 So while you're accumulating that temporary stack, cold card might go on sale. 469 00:31:44,426 --> 00:31:45,506 And you can grab a couple. 470 00:31:46,366 --> 00:31:49,666 Keep an eye on the Mutiny Wallet, too, because you could do this likely without 471 00:31:49,666 --> 00:31:51,006 having to use Liquid in the future. 472 00:31:51,686 --> 00:31:54,066 I don't know if we're there yet, especially we're looking at something where 473 00:31:54,066 --> 00:31:57,986 you could maybe keep it temporarily for a while if it takes you a bit to get to a few million sats. 474 00:31:59,066 --> 00:32:02,006 So, you know, Aqua and Liquid are really well tested. 475 00:32:02,066 --> 00:32:04,966 They've been around for a long time at this point. Mutiny Wallet and the Fetament 476 00:32:04,966 --> 00:32:09,506 support is still fairly new. So for me, I like to let this stuff cook a bit. 477 00:32:11,366 --> 00:32:15,026 The Blockstream green wallet is also really tried and true, and you can also 478 00:32:15,026 --> 00:32:16,406 use that with hardware wallets. 479 00:32:18,092 --> 00:32:22,832 So the workflow is buy on an exchange that has Lightning support or use something 480 00:32:22,832 --> 00:32:26,032 like RoboSats and go KYC free, which also has Lightning support. 481 00:32:27,012 --> 00:32:34,192 Go from Lightning to Liquid or in the future, Affediment. Accumulate in that Liquid wallet. 482 00:32:35,312 --> 00:32:40,832 And then once you've reached a high amount, peg out into your Bitcoin wallet 483 00:32:40,832 --> 00:32:45,052 in Sparrow using ColdCard or whatever your final cold storage wallet solution is. 484 00:32:45,752 --> 00:32:49,392 You peg out from liquid to your final solution. 485 00:32:49,812 --> 00:32:54,332 So then, you know, it's much, much harder to track you as well. 486 00:32:54,372 --> 00:32:57,772 So not only are you avoiding high transfer fees in the future, 487 00:32:58,972 --> 00:33:06,012 transaction fees, but you're also able to now move your temporary stash around 488 00:33:06,012 --> 00:33:07,352 in a really cheap environment. 489 00:33:07,812 --> 00:33:09,852 You're able to accumulate in this way that is private. 490 00:33:10,672 --> 00:33:14,912 There's a lot of benefits to it. It's an additional step, but there's just so many benefits to it. 491 00:33:15,752 --> 00:33:18,812 Is run by the Blockstream Corporation, so it's not like it's some, 492 00:33:18,932 --> 00:33:20,792 you know, community project or something. 493 00:33:21,832 --> 00:33:25,592 But they have their own commercial reasons for running it, and it seems like it's been pretty solid. 494 00:33:26,072 --> 00:33:30,552 So I will have links to the Aqua Wallet, to the RoboSats Guide, 495 00:33:30,772 --> 00:33:34,972 to the Sparrow Bitcoin Wallet, and to the Green Bitcoin Wallet. 496 00:33:36,652 --> 00:33:42,512 These mostly all have had updates this week, too. Sparrow, Green, Zeus, like I mentioned. 497 00:33:43,532 --> 00:33:46,852 They're just getting updated aqua wallet they're just getting updated like crazy right now, 498 00:33:47,472 --> 00:33:50,172 they're getting so good aqua is one that could work for the normie so 499 00:33:50,172 --> 00:33:54,372 i like to mention that one but also because it's doing 500 00:33:54,372 --> 00:33:58,852 all of the moving from lightning to liquid back to on chain when you need it 501 00:33:58,852 --> 00:34:04,012 for you on the back end using bolts with their api and it's been really solid 502 00:34:04,012 --> 00:34:10,652 that's quite i know now that now that i say it all out i feel like you're probably just 503 00:34:10,792 --> 00:34:12,752 glazing over. So let me know what I missed. 504 00:34:13,292 --> 00:34:18,232 Let me know what doesn't work for you. What bits don't make sense. And I will try to put. 505 00:34:18,320 --> 00:34:31,440 Music. 506 00:34:31,352 --> 00:34:35,792 I get no pleasure in playing this for you, but I think we need to get on the same page. 507 00:34:36,012 --> 00:34:40,672 This shenanigans going on with the Bitcoin stuff that not just to ordinals, 508 00:34:40,692 --> 00:34:43,492 but more than that, it's not going away anytime soon. 509 00:34:44,052 --> 00:34:51,512 And the reason I say that is I think nobody has properly communicated the actual 510 00:34:51,512 --> 00:34:53,812 value of Bitcoin and the utility of Bitcoin. 511 00:34:54,012 --> 00:34:58,592 And so the financial press and the rest of the normies and the people that have 512 00:34:58,592 --> 00:35:03,972 large, large amounts of money to move around are still trying to wrap their 513 00:35:03,972 --> 00:35:05,992 head around what makes Bitcoin valuable. 514 00:35:06,372 --> 00:35:11,972 And instead of taking them all to school constantly on what actually gives things 515 00:35:11,972 --> 00:35:15,732 intrinsic value, we're just going for the easy answer. 516 00:35:16,192 --> 00:35:19,592 This here is the Bitcoin Foundation chair, Brock Pierce. 517 00:35:19,752 --> 00:35:26,272 He spins a story about how all of this degen behavior is going to be just great 518 00:35:26,272 --> 00:35:30,012 for the value of Bitcoin and NGU is just around the corner. 519 00:35:30,132 --> 00:35:32,432 Brock, okay, so the halving event has concluded. 520 00:35:32,632 --> 00:35:35,852 Everybody was waiting years for that. What is the next catalyst you see? 521 00:35:36,572 --> 00:35:40,212 What's the next narrative, right? What's the next thing we're going to use to 522 00:35:40,212 --> 00:35:42,472 pump Bitcoin? That's what she's saying. 523 00:35:43,460 --> 00:35:47,560 Because they don't understand the utility, even of just a store of value, 524 00:35:47,700 --> 00:35:51,640 let alone digital gold or anything of those narratives that they want to try to use. 525 00:35:51,740 --> 00:35:56,540 Like they just they don't quite get it. They just know it's it's basically hype 526 00:35:56,540 --> 00:35:58,600 after hype cycle. So what's the next one, Brock? 527 00:35:58,840 --> 00:36:04,540 Well, I mean, it's what we've seen. Bitcoin had record fees during this halving 528 00:36:04,540 --> 00:36:09,720 because a lot of what we call layer two technologies, the idea of building on Bitcoin. 529 00:36:09,720 --> 00:36:14,680 If you've heard of Ethereum, it's all the other applications that had moved away from Bitcoin. 530 00:36:14,940 --> 00:36:21,600 But Bitcoin is back and delivering smart functionality, NFT functionality, meme technologies. 531 00:36:21,860 --> 00:36:25,900 Whoa, whoa, whoa, whoa, whoa. Slow down, Brock. So first of all, Bitcoin's back. 532 00:36:26,120 --> 00:36:29,200 I didn't know Bitcoin was gone, but it's back, guys. And the reason it's back 533 00:36:29,200 --> 00:36:34,940 is because it has NFT functionality and memes. Bitcoin, but Bitcoin is back 534 00:36:34,940 --> 00:36:40,100 and delivering smart functionality, NFT functionality, meme technologies. 535 00:36:40,380 --> 00:36:46,900 Meme technologies. I mean, man, Bitcoin sounds awesome now. Let's invest more money. 536 00:36:47,060 --> 00:36:50,440 Functionality, NFT functionality, meme technologies. 537 00:36:50,540 --> 00:36:55,240 All of these things are now being built on top of Bitcoin for the first time 538 00:36:55,240 --> 00:36:56,980 since almost a decade ago. go. 539 00:36:57,000 --> 00:37:03,160 And so in anticipation of that record fees, as people are trying to get in to be the first. 540 00:37:03,500 --> 00:37:07,260 And that I think is why it's not going to go away anytime soon. 541 00:37:08,060 --> 00:37:12,600 Because the collective of people that go on these shows and pump NGU, 542 00:37:12,780 --> 00:37:15,940 they want this kind of activity. 543 00:37:16,120 --> 00:37:20,220 They need this kind of activity because at least it's something to do with Bitcoin. 544 00:37:20,480 --> 00:37:23,260 It's some kind of like they look at it as, look, there's something you can do with it. 545 00:37:23,680 --> 00:37:28,420 Now there's a reason to spend money on it because it's scarce and there's something you can do with it. 546 00:37:28,900 --> 00:37:33,860 As if store of value just right now isn't clearly enough. 547 00:37:34,040 --> 00:37:38,120 And I think it's just simply they're exhausted at trying to explain it, 548 00:37:38,140 --> 00:37:39,300 so they're just leaning in. 549 00:37:41,300 --> 00:37:44,600 All right, well, if you made it this far, go check out thisweekinbitcoin.show. 550 00:37:44,660 --> 00:37:47,000 I have links over there for what I talked about today. 551 00:37:47,380 --> 00:37:50,100 Also, please consider boosting it as a value for value podcast. 552 00:37:50,380 --> 00:37:52,280 And I'd also love to see you share it with a friend. 553 00:37:52,760 --> 00:37:55,720 I think one day this This could be the number one Bitcoin news podcast, 554 00:37:55,940 --> 00:37:58,440 at least for the JB community and the podcasting 2.0 community. 555 00:37:58,960 --> 00:38:01,720 There's a lot of podcasters and listeners that are trying to wrap their heads 556 00:38:01,720 --> 00:38:05,000 around this Sats thing now, and I'd love to be a resource for them. 557 00:38:05,120 --> 00:38:10,000 So please do consider sharing it. That's another great way to send a little value to the show. 558 00:38:10,400 --> 00:38:16,200 And in the spirit of podcasting 2.0 and value for value, I would love to play a song for you. 559 00:38:16,580 --> 00:38:20,420 Now, the Dorfell family is well known for being extremely talented, 560 00:38:20,560 --> 00:38:22,700 and there's Dorfell family bluegrass. 561 00:38:23,240 --> 00:38:27,540 So our song this week is Play Guitar by the Dorfell family. Thanks for joining 562 00:38:27,540 --> 00:38:29,160 me. See you right back here. Bye. 563 00:38:29,360 --> 00:40:42,868 Music.