1 00:00:00,000 --> 00:00:15,340 Welcome in to This Week in Bitcoin, episode 65. 2 00:00:15,780 --> 00:00:16,460 My name is Chris. 3 00:00:16,860 --> 00:00:20,320 Chris, L-A-S dot com, jupiterbroadcasting.com. 4 00:00:20,680 --> 00:00:21,400 Well, I warned you. 5 00:00:21,840 --> 00:00:25,980 I told you the Bitcoin price action, while a lot of fun, was going to slow down. 6 00:00:26,340 --> 00:00:28,260 And it did just that this week. 7 00:00:28,260 --> 00:00:31,460 It really takes big money now, right? 8 00:00:31,900 --> 00:00:39,260 I mean, we're talking banks, institutional wealth, thousands of plebs every single day, the ETFs. 9 00:00:39,860 --> 00:00:42,820 It takes a lot right now to move Bitcoin. 10 00:00:43,080 --> 00:00:53,540 And the truth is, there's been a lot of selling pressure recently by long-term hodlers and by a lot of people that are rotating into what some call paper Bitcoin. 11 00:00:53,680 --> 00:00:55,100 I'll get into that in just a moment. 12 00:00:55,100 --> 00:00:56,220 But it's incredible. 13 00:00:56,220 --> 00:01:05,100 Even during the sell pressure that happened over the last week as a lot of big money rotated into altcoins like ETH, Bitcoin still did pretty good. 14 00:01:05,680 --> 00:01:08,980 In fact, our 200-day moving average got up to $50,000. 15 00:01:09,740 --> 00:01:20,080 But the thing that still blows my mind is even in this quote-unquote new era where everybody's debating, are we post the four-year halving cycle? 16 00:01:20,740 --> 00:01:25,400 Is institutional demand going to be so strong that we won't see a four-year halving cycle anymore? 17 00:01:25,400 --> 00:01:30,520 and ETFs are stacking like crazy and Saylor and everybody copying Saylor stacking like crazy. 18 00:01:31,040 --> 00:01:37,020 We can still, even with all of that, have our momentum stolen by altcoins. 19 00:01:37,520 --> 00:01:39,120 Breakthrough for the crypto industry. 20 00:01:39,300 --> 00:01:44,260 The House has packed the Genius Act, sending that stablecoin legislation to President Trump for his signature. 21 00:01:44,800 --> 00:01:47,400 Emily Wilkins in Washington, D.C. with the details. 22 00:01:47,520 --> 00:01:49,700 So they delivered on Crypto Week. 23 00:01:50,500 --> 00:01:53,800 Sarah, they got Crypto Week back on track and they got it done. 24 00:01:53,800 --> 00:01:58,520 Obviously, a huge week for the crypto industry, not just for the bill on stablecoins. 25 00:01:58,580 --> 00:02:01,980 That is important, set to be signed into law by Trump today. 26 00:02:01,980 --> 00:02:06,280 Of course, Trump did sign the Genius Act into law, but there's two bills. 27 00:02:06,900 --> 00:02:09,340 There's the Genius Act, which is all about stablecoins. 28 00:02:09,860 --> 00:02:15,920 And then there's this Clarity Act, which is what they call market structure, i.e., who's in charge of what. 29 00:02:16,220 --> 00:02:20,400 Now, that one really is the first rules of the road bill for a specific digital asset. 30 00:02:20,400 --> 00:02:27,300 But it's the other bill the House passed yesterday on market structure that crypto companies say is their true top priority. 31 00:02:27,500 --> 00:02:31,180 That one is, of course, for all digital assets, not just for stable coins. 32 00:02:31,400 --> 00:02:35,660 But that bill now has to go to the Senate and it has a ways to go. 33 00:02:35,980 --> 00:02:39,860 Yeah. So we'll come back to that. That's not really the focus right now. 34 00:02:39,940 --> 00:02:43,420 I'll follow up on that. But let's just stick with the Genius Act briefly here. 35 00:02:43,700 --> 00:02:49,520 It's true things did get off track for a bit, which gave us a chance to get one of my favorite bits on the floor. 36 00:02:49,520 --> 00:03:03,680 It is customary when we consider major legislation to give credit to those who created the bill. 37 00:03:04,540 --> 00:03:09,440 The ghost of Sam Bankman Freed looms above this auditorium. 38 00:03:09,840 --> 00:03:13,180 He is the genius behind the Genius Act. 39 00:03:13,180 --> 00:03:16,440 and one can only hope that he's able to watch C-SPAN 40 00:03:16,440 --> 00:03:20,780 on a black and white television set in his prison cell. 41 00:03:21,080 --> 00:03:23,020 That's a nice touch. That was a nice touch. 42 00:03:23,440 --> 00:03:25,000 Of course, while he was doing bits, 43 00:03:25,140 --> 00:03:27,480 Liz was out freaking everybody out on the cable networks. 44 00:03:27,920 --> 00:03:33,680 And guardrails to make sure that crypto is used to blow up our entire economy. 45 00:03:33,960 --> 00:03:37,360 What? Crypto is going to blow up our entire economy unless you save us? 46 00:03:37,520 --> 00:03:41,400 So I'm very worried about that, but I want to add one more twist, 47 00:03:41,400 --> 00:03:42,920 and that is the clarity. 48 00:03:43,740 --> 00:03:44,760 Oh, yeah. Let's talk about it. 49 00:03:44,960 --> 00:03:47,460 So this is something you're probably going to find pretty common 50 00:03:47,460 --> 00:03:51,800 is proponents are really focused on the Genius Act right now. 51 00:03:51,900 --> 00:03:54,840 And those that are against it are really kind of blurring the lines 52 00:03:54,840 --> 00:03:56,360 between the Genius Act and the Clarity Act. 53 00:03:56,600 --> 00:03:58,660 And they're kind of talking about it as one thing like Liz is. 54 00:03:58,860 --> 00:04:02,720 So I'm very worried about that, but I want to add one more twist, 55 00:04:02,980 --> 00:04:06,900 and that is the clarity bill has all those problems, 56 00:04:07,080 --> 00:04:10,080 but it also has a provision in it 57 00:04:10,080 --> 00:04:22,880 That would let any company listed on the New York Stock Exchange opt out of SEC regulation by just digitizing themselves, put themselves on the blockchain. 58 00:04:22,880 --> 00:04:33,900 And all of a sudden, it turns out that Amazon or Meta or General Motors is no longer governed by the SEC. 59 00:04:33,900 --> 00:04:42,780 You do realize that literally would blow up the value of the New York Stock Exchange. 60 00:04:43,620 --> 00:04:50,300 You know, and Liz has always been a big defender of Wall Street and the big banks, and she's concerned about their future. 61 00:04:50,960 --> 00:04:56,000 So somehow, some way, Liz and Brad didn't manage to stop the momentum. 62 00:04:56,660 --> 00:04:59,480 The Genius Act passed and was signed into law by President Trump. 63 00:04:59,480 --> 00:05:20,480 You know, to be clear, Genius Act does nothing directly for Bitcoin. Let's not lose sight of that reality here. It really does nothing for Bitcoin directly. It's establishing a regulatory framework for stable coins. It mostly seems to force it into the domain of financial institutions. So, for example, I was worried about Walmart coin or Microsoft coin. 64 00:05:20,940 --> 00:05:25,360 those companies, they would have to seek an exemption from the government in order to issue 65 00:05:25,360 --> 00:05:30,500 a stablecoin. It's mostly written so that way only banks and financial institutions can mess 66 00:05:30,500 --> 00:05:36,460 around in this. I do think its passage is seen as a significant step forward for quote-unquote 67 00:05:36,460 --> 00:05:42,080 regulatory clarity that some investors like to see. I think that's likely to benefit Bitcoin. 68 00:05:42,720 --> 00:05:46,360 I think it'll make more people digital asset natives where it's easier for them to swap into 69 00:05:46,360 --> 00:05:51,580 Bitcoin. So that's the positive stuff. And I do want to come back to this because I think ultimately 70 00:05:51,580 --> 00:05:58,780 stable coins and Bitcoins, well, stable coins and Bitcoin are linked. There's going to be, 71 00:05:58,860 --> 00:06:01,380 if there's more stable coins, people are going to be buying more Bitcoin, et cetera. I'll come 72 00:06:01,380 --> 00:06:08,380 back to that. But there is, there is also a clear reality here. You know, this isn't Bitcoin 73 00:06:08,380 --> 00:06:15,460 legislation. This wasn't a Bitcoin reserve. It's clear all the Bitcoin initiatives, you know, 74 00:06:15,460 --> 00:06:21,100 the stuff Trump actually campaigned on, it's on the back burner right now. He didn't, you know, 75 00:06:21,120 --> 00:06:25,260 go to the Bitcoin conference and say, my first thing I'm going to do is pass stablecoin legislation. 76 00:06:25,760 --> 00:06:30,060 He said, we're going to establish a Bitcoin reserve. I think that got backburned the moment 77 00:06:30,060 --> 00:06:34,540 they realized the Doge cost cutting strategy, whatever that initial strategy was, wasn't working. 78 00:06:34,720 --> 00:06:40,160 And they had to pivot to finding buyers of U.S. debt. And so they put all their wood behind the 79 00:06:40,160 --> 00:06:45,460 Genius Act era. And to do that, they had to get all the big banks on board. They had to get 80 00:06:45,460 --> 00:06:49,640 MasterCard and Visa on board. They had to get on board with the crypto industry. 81 00:06:50,220 --> 00:06:55,900 And now they're in and they're involved and they're they're the customer now. 82 00:06:56,560 --> 00:07:00,540 My name is Michael Meebacher. I'm the CEO at MasterCard. And we just witnessed the signing 83 00:07:00,540 --> 00:07:04,760 of the genius bill. This is really the beginning of a financial revolution here in America. 84 00:07:04,760 --> 00:07:06,940 This is Brian Armstrong, CEO of Coinbase. 85 00:07:06,940 --> 00:07:14,180 With the passing of this, we've got crypto stable coins now that can be built right here in America to make every payment fast, cheap and more global. 86 00:07:14,580 --> 00:07:16,940 Enables us to upgrade the financial system. 87 00:07:17,760 --> 00:07:19,620 This is Ben Horowitz of Anderson Horowitz. 88 00:07:19,980 --> 00:07:22,280 Make it fairer, more accessible. 89 00:07:22,840 --> 00:07:28,040 The president was able to achieve one of the most important changes in the legal framework in the United States. 90 00:07:28,320 --> 00:07:29,380 This is the CEO of Tether. 91 00:07:29,580 --> 00:07:34,160 To allow the creation and the safely usage of stable coins. 92 00:07:34,160 --> 00:07:38,800 This is going to mean fantastic benefits for individuals and businesses around them. 93 00:07:39,280 --> 00:07:40,520 This is the CEO of Kraken. 94 00:07:40,760 --> 00:07:44,200 Looking forward to the great results for crypto and for the U.S. 95 00:07:44,360 --> 00:07:46,060 This is a great day for crypto. 96 00:07:46,660 --> 00:07:49,560 This is the Winklevoss twins, the CEO and president of Gemini. 97 00:07:49,720 --> 00:07:53,760 This is a great day for the U.S. dollar, and it's a great day for America. 98 00:07:53,760 --> 00:08:03,640 This is foundational legislation, foundational regulation that is going to unlock the power of the Internet in rebuilding the financial system. 99 00:08:03,640 --> 00:08:06,360 Not only that, but it positions the U.S. 100 00:08:06,580 --> 00:08:09,160 This is the CEO and co-founder of Robinhood, Vlad. 101 00:08:09,520 --> 00:08:15,520 As the global leader in this new digital assets industry, which I think is incredibly important. 102 00:08:19,380 --> 00:08:22,200 That was produced and released directly by the White House. 103 00:08:23,020 --> 00:08:26,360 You notice I didn't catch anybody dealing with Bitcoin. 104 00:08:26,500 --> 00:08:27,700 I didn't see Jack Mahler's in there. 105 00:08:27,720 --> 00:08:29,340 I didn't see any Bitcoin developers in there. 106 00:08:29,340 --> 00:08:29,660 Right. 107 00:08:29,660 --> 00:08:34,940 The promises, as always, are huge these days with stablecoins too, so everybody's so excited. 108 00:08:35,400 --> 00:08:36,760 The White House is clearly all in. 109 00:08:37,660 --> 00:08:41,660 It's stablecoin season, and the promises are huge, trillions of dollars. 110 00:08:42,220 --> 00:08:46,440 I put together a little cut of what White House officials have been promising about stablecoins. 111 00:08:47,040 --> 00:08:57,000 This will be a few of them coming together to talk about why stablecoin legislation is going to be, I guess, such a boondoggle, such a money opportunity, I guess. 112 00:08:57,000 --> 00:09:00,480 And I think this would increase confidence in the industry. 113 00:09:01,200 --> 00:09:04,220 And I think that you would also see banks getting into the act. 114 00:09:04,420 --> 00:09:08,200 This is David Sachs, White House AI and Cryptozar on June 18th. 115 00:09:08,220 --> 00:09:11,080 You'd see traditional financial players getting involved in it. 116 00:09:11,140 --> 00:09:18,400 And that's why the float is expected to grow from, call it, roughly 250 billion to trillions of dollars. 117 00:09:18,640 --> 00:09:22,100 We're also going to have the stablecoin legislation. 118 00:09:22,620 --> 00:09:25,720 This, of course, July 3rd, Scott Besant, Treasury Secretary. 119 00:09:25,720 --> 00:09:31,460 Which I think could create at least $2 trillion in demand for treasury bills. 120 00:09:31,560 --> 00:09:38,840 These are not securities, and it's the banking regulators who are going to be looking after them, and I think that's appropriate. 121 00:09:39,080 --> 00:09:41,680 This is Paul Atkins, the SEC chair, just recently. 122 00:09:42,080 --> 00:09:46,960 Because of the role that stablecoins play, and I think will play in the future. 123 00:09:47,120 --> 00:09:48,120 Under the Biden regime. 124 00:09:48,320 --> 00:09:54,560 This is Bo Hines. He's the President of Council of Advisories for Digital Assets. He sits just under David Sachs. This was just a couple days ago. 125 00:09:54,560 --> 00:10:21,180 It was really mostly just policy through prosecution. These folks were victims of overregulation. When we started devising a plan of how we would solve this problem, we kind of looked at it in three phases. We said we're going to have a demolition phase, getting rid of the overregulation. Then we're going to have a construction phase, which is underway. And obviously, we have one building that's been constructed here with stablecoin legislation, but we're heavily relying on our colleagues up on the hill to get this done. And then we have the implementation phase. 126 00:10:21,180 --> 00:10:30,340 Okay, so we have these phases. Now, I don't know how much of a plan that actually is, but what we get in the meantime is a stablecoin pump party. 127 00:10:30,340 --> 00:10:44,860 Consider a lot of Wall Street is, you know, as they say, chasing alpha. 128 00:10:45,120 --> 00:10:47,840 They're not deeply learning about the underlying investment. 129 00:10:48,400 --> 00:10:50,800 They know Bitcoin goes up and by the numbers, 130 00:10:50,800 --> 00:10:54,920 and they know the White House is pumping this new stablecoin industrial complex. 131 00:10:55,500 --> 00:10:59,340 And they know there's going to be a few winners and losers in the stablecoin game. 132 00:10:59,340 --> 00:11:02,580 and the ones that make it are going to probably make a ton of money, 133 00:11:02,760 --> 00:11:05,180 but it will only be just a few. 134 00:11:05,900 --> 00:11:10,440 Arthur Hayes recently had an essay or a blog post or a medium post 135 00:11:10,440 --> 00:11:11,660 or whatever you want to call it, 136 00:11:12,180 --> 00:11:13,940 where he took a look at the stablecoin ecosystem, 137 00:11:14,140 --> 00:11:16,280 how it's evolved, where it kind of came from, 138 00:11:16,620 --> 00:11:18,280 going into Circle's recent IPO. 139 00:11:19,120 --> 00:11:21,240 And what he says is what you have to understand about stablecoins 140 00:11:21,240 --> 00:11:27,080 is the true innovation came from adapting fiat transfer challenges in Asia, 141 00:11:27,080 --> 00:11:29,360 adapting to these challenges in Asia. 142 00:11:29,800 --> 00:11:33,300 So it wasn't that something came from Silicon Valley or Wall Street. 143 00:11:34,320 --> 00:11:38,840 Tether's early adoption by Bitfinex combined with the inability to wire fiat easily 144 00:11:38,840 --> 00:11:42,320 positioned it perfectly for the ICO era utility and usage. 145 00:11:43,080 --> 00:11:44,480 And I think I agree with this. 146 00:11:44,980 --> 00:11:50,040 Stablecoins came about because it started to get hard to get fiat into the crypto ecosystem. 147 00:11:50,260 --> 00:11:54,520 And so the places that couldn't get access to fiat started using Tether. 148 00:11:54,520 --> 00:12:01,940 As a result, Tether got early dominance in greater China, solving real banking issues for people over there. 149 00:12:02,620 --> 00:12:05,620 And then it was the go-to stablecoin during the ICO era. 150 00:12:05,880 --> 00:12:07,120 So there's been a lot of issuance. 151 00:12:07,720 --> 00:12:11,020 And it really comes down in stablecoin land to distribution. 152 00:12:11,700 --> 00:12:14,640 You need to have the plumbing to have people be able to use it. 153 00:12:14,700 --> 00:12:16,080 You need to have merchants that accept it. 154 00:12:16,120 --> 00:12:16,740 It's the plumbing. 155 00:12:17,620 --> 00:12:20,440 You know, so Circle and Tether, a few of these are going to be able to get that. 156 00:12:20,440 --> 00:12:25,100 But it's not going to be a lot of companies that are going to make a ton of money here. 157 00:12:25,500 --> 00:12:36,953 And I think Tether is nearly impossible to catch up with at this point You know Tether makes million per employee Tether was the seventh largest buyer of U bonds in 2024 158 00:12:37,874 --> 00:12:39,673 The Federal Republic of Germany was the eighth. 159 00:12:40,034 --> 00:12:42,514 So Tether's buying more U.S. bonds than Germany. 160 00:12:43,433 --> 00:12:45,693 So the scale of Tether is remarkable. 161 00:12:45,874 --> 00:12:49,874 And they've got three years to get in compliance with the Genius Act. 162 00:12:50,654 --> 00:12:54,113 So they have to figure out a way to do that, but they're clearly motivated to do it. 163 00:12:54,113 --> 00:12:58,254 and Trump gave him a shout out at the entire signing event, which was a big deal. 164 00:12:58,793 --> 00:13:04,234 So you're going to see a lot of noise around stablecoins and around the altcoins that power 165 00:13:04,234 --> 00:13:08,654 them. But I think there's only going to be a couple of winners, a couple of chains and a couple of 166 00:13:08,654 --> 00:13:19,274 companies. So why, as Bitcoiners, do we care about any of this? I personally don't use stablecoins, 167 00:13:19,813 --> 00:13:23,673 really couldn't care about stablecoins. I imagine that's probably true for most people in the States 168 00:13:23,673 --> 00:13:24,854 and probably even the West. 169 00:13:25,634 --> 00:13:27,493 But Bitcoin doesn't exist in a vacuum. 170 00:13:28,354 --> 00:13:31,473 And I, for one, want to be aware of what's going on around Bitcoin 171 00:13:31,473 --> 00:13:34,473 that very well could have some kind of impact on Bitcoin. 172 00:13:35,093 --> 00:13:39,014 And I have to believe that the legitimization of altcoins 173 00:13:39,014 --> 00:13:39,993 is one of those things. 174 00:13:40,154 --> 00:13:41,874 That's what's happening. 175 00:13:42,813 --> 00:13:46,154 The Genius Act legitimizes at least Ethereum. 176 00:13:47,154 --> 00:13:50,573 The debate if it's a security or a commodity is over. 177 00:13:50,573 --> 00:13:53,673 The debate, if it's decentralized enough, is over. 178 00:13:54,534 --> 00:13:57,813 And big money has decided they're all in. 179 00:13:58,453 --> 00:14:05,553 And they're piling into these companies that are building ETH treasury companies that are aping the microstrategy playbook. 180 00:14:06,073 --> 00:14:09,993 Let's turn now to crypto as shares of the blank check company Dynamics Corp are higher. 181 00:14:10,274 --> 00:14:14,933 On the news, they'll merge with CryptoVenture, the Ether Reserve, to form a new company called the Ether Machine. 182 00:14:15,034 --> 00:14:15,413 Got that? 183 00:14:15,413 --> 00:14:21,493 That deal is expected to close in Q4, and Ether Machine will trade on the NASDAQ under the ticker EHTM. 184 00:14:21,593 --> 00:14:22,553 It's a SPAC, in other words. 185 00:14:22,933 --> 00:14:29,933 CNBC crypto reporter Taneya McKeel says it's vying to be the micro strategy of Ether, but with a focus on generating yield. 186 00:14:30,053 --> 00:14:31,293 Let's bring her in to discuss. 187 00:14:31,514 --> 00:14:38,473 And Taneya, this reminds me so much of stablecoins where they went through this whole era where it was all about yield until it blew up and so forth. 188 00:14:38,874 --> 00:14:42,833 Obviously, they're hoping that's not a good analogy and that this model is much more sustainable. 189 00:14:43,234 --> 00:14:44,374 Yeah, what could go wrong? 190 00:14:44,894 --> 00:14:47,134 It's like microstrategy, but with yield. 191 00:14:47,693 --> 00:14:54,034 And they're out there playing this narrative that I said they would just last week, that 192 00:14:54,034 --> 00:14:55,913 Bitcoin is an old technology. 193 00:14:56,734 --> 00:14:57,693 ETH is a platform. 194 00:14:57,894 --> 00:14:58,573 It's the future. 195 00:14:59,093 --> 00:15:00,413 ETH is a productive asset. 196 00:15:01,073 --> 00:15:03,634 ETH has cash flow, right? 197 00:15:03,953 --> 00:15:05,354 Bitcoin doesn't have cash flow. 198 00:15:05,494 --> 00:15:06,673 ETH is a productive asset. 199 00:15:07,114 --> 00:15:09,854 You don't want that old, crappy Bitcoin. 200 00:15:10,313 --> 00:15:12,514 Don't underestimate what I've been saying here. 201 00:15:12,874 --> 00:15:13,693 This is happening. 202 00:15:13,693 --> 00:15:15,433 It is a narrative that they're going to push. 203 00:15:15,573 --> 00:15:19,553 They have people that they can pay to go on TV and spin these narratives. 204 00:15:19,774 --> 00:15:20,634 Here's an example. 205 00:15:20,754 --> 00:15:24,394 This is the CEO of this new Ether or the Ether machine. 206 00:15:25,073 --> 00:15:26,034 So you're an Ethereum guy. 207 00:15:26,114 --> 00:15:26,713 Do you own Bitcoin? 208 00:15:27,173 --> 00:15:27,813 I'm not. 209 00:15:28,014 --> 00:15:29,213 I do not own Bitcoin. 210 00:15:29,354 --> 00:15:29,573 None. 211 00:15:29,793 --> 00:15:31,854 I'd rather have an iPhone than a landline. 212 00:15:32,994 --> 00:15:33,374 Ooh. 213 00:15:35,114 --> 00:15:35,894 There you go. 214 00:15:36,473 --> 00:15:38,154 Just last week, I said they'd do this. 215 00:15:38,654 --> 00:15:41,333 This is going to be the message where they're going to try to differentiate 216 00:15:41,333 --> 00:15:43,634 because they can't lean on Web3. 217 00:15:44,134 --> 00:15:51,114 The whole thing is just a piece of crap technology platform that could come along with something that's much better, much more elegant, much leaner, and much more efficient. 218 00:15:51,874 --> 00:15:54,593 So they can't really lean on the fact that it's a technology platform. 219 00:15:54,793 --> 00:15:57,053 They've got to come up with some other narrative, and this is it. 220 00:15:57,654 --> 00:15:58,433 They're the iPhone. 221 00:15:59,053 --> 00:16:04,593 So the reality is attention might not be on Bitcoin or any kind of Bitcoin reserve for a while. 222 00:16:05,073 --> 00:16:09,754 And if the U.S. slows down their talk of a sovereign reserve, likely other countries will too. 223 00:16:10,394 --> 00:16:16,774 The next thing the animals in D.C. are going to focus on is this market structure stuff, you know, what they call the Clarity Act. 224 00:16:17,553 --> 00:16:20,254 And this to them is their next big focus. 225 00:16:20,433 --> 00:16:22,134 This is how they're going to make money legally. 226 00:16:22,473 --> 00:16:25,793 They need these rules so they can get out there and just start pumping. 227 00:16:26,514 --> 00:16:30,734 Clarity started in the House, and so it has passed the House, and now it's going to the Senate. 228 00:16:31,014 --> 00:16:33,813 And they still have to do their hearings and markup on it. 229 00:16:34,193 --> 00:16:37,053 And we expect that will happen over the next couple of months. 230 00:16:37,053 --> 00:16:46,154 In fact, the chairman of the Senate Bank Committee, Tim Scott, has said that he wants to finish with the market structure legislation by the end of September. 231 00:16:46,754 --> 00:16:51,793 So if all goes well, then we could be looking at a second bill signing in, say, October. 232 00:16:51,793 --> 00:17:06,613 And like Bo said, that would be pretty much the crypto industry's wish list for having a clear legal framework in the United States for both stable coins and other crypto tokens. 233 00:17:07,053 --> 00:17:08,273 So it's really pretty amazing. 234 00:17:08,553 --> 00:17:09,053 I'm not sure. 235 00:17:09,133 --> 00:17:11,714 I think maybe there's something missing from my wish list. 236 00:17:22,273 --> 00:17:27,954 It's times like these that we have an opportunity to practice low time preference, 237 00:17:28,593 --> 00:17:31,873 prioritizing long-term benefits over immediate gratification. 238 00:17:32,714 --> 00:17:35,414 The reality is Bitcoin is the apex asset. 239 00:17:35,414 --> 00:17:56,873 The world needs Bitcoin. Bitcoin doesn't need the world. And that need is only going to grow as fiat debasement accelerates. It's clear that's the direction Western governments are going to go in. So I think it's incumbent upon us not to get sucked into these short term narratives. And in my opinion, just stay focused on Bitcoin, not what some are calling paper Bitcoin. 240 00:17:56,873 --> 00:18:08,113 But that's what the Bitcoin community is calling it when instead of stacking Bitcoin or when you sell your Bitcoin and you buy shares of one of these companies that are buying Bitcoin. 241 00:18:08,113 --> 00:18:16,073 that's a definite short short-term play i was going to say high time preference play but i 242 00:18:16,073 --> 00:18:21,533 don't want to be confusing it's a short-term play because ultimately just like the stablecoin 243 00:18:21,533 --> 00:18:26,853 companies there's probably only going to be a handful of bitcoin treasury companies that are 244 00:18:26,853 --> 00:18:32,154 successful and it's not clear at this moment which ones those will be microstrategy or strategy 245 00:18:32,154 --> 00:18:33,773 seems like an obvious one. 246 00:18:34,373 --> 00:18:37,033 But last week I told you about Adam Back's company. 247 00:18:37,633 --> 00:18:39,954 They're out there and they're in it to win it. 248 00:18:40,853 --> 00:18:42,013 Yeah, I would agree with that. 249 00:18:42,113 --> 00:18:44,414 I mean, I think that there are going to be just a couple of winners here. 250 00:18:44,613 --> 00:18:46,773 I think that BSTR will be one of the winners. 251 00:18:47,033 --> 00:18:50,253 We're showing up with a bulldozer and a permit to clear cut Bitcoin. 252 00:18:51,174 --> 00:18:56,253 BSTR is the company that Adam Back helped create by selling some of his OG stash. 253 00:18:56,494 --> 00:18:58,873 We're going to open up in the fourth spot. 254 00:18:59,394 --> 00:19:02,133 And we think that we'll very quickly slingshot into number two. 255 00:19:02,494 --> 00:19:03,414 That's our mission. 256 00:19:03,613 --> 00:19:07,273 We're really trying to create a fortress-like environment for our Bitcoin 257 00:19:07,273 --> 00:19:11,273 and really trying to position ourselves at the Berkshire Hathaway of the Bitcoin ecosystem. 258 00:19:11,813 --> 00:19:12,793 What do you mean by that? 259 00:19:12,793 --> 00:19:17,853 Do you mean by going and then buying other companies that are in the space 260 00:19:17,853 --> 00:19:21,954 and running them yourself the way that Warren Buffett and Berkshire Hathaway has done? 261 00:19:22,714 --> 00:19:24,793 Yeah, I think there's a great arbitrage here. 262 00:19:24,914 --> 00:19:26,833 We can issue debt at 1%. 263 00:19:26,833 --> 00:19:28,313 We can buy Bitcoin. 264 00:19:28,694 --> 00:19:31,914 And then as Bitcoin appreciates, we naturally delever our balance sheet. 265 00:19:32,154 --> 00:19:36,974 So I think that's a really unique capability that Bitcoin treasuries have access to that other companies don't. 266 00:19:37,394 --> 00:19:45,753 I think that you'll see over time that, you know, you can build a treasury that will become the preferred counterparty to a lot of the financial companies out there. 267 00:19:45,753 --> 00:19:56,253 So if you think about who do you want to face as a finance company or as a bank, if you need a Bitcoin revolver, we want to make sure that BSTR is the counterparty of choice. 268 00:19:56,253 --> 00:20:03,113 So to me, it sounds like they're going to be buying some Bitcoin companies, but they're also going to be playing some sort of financial backer to loans. 269 00:20:03,394 --> 00:20:06,273 They'll use their massive reserves. 270 00:20:06,894 --> 00:20:09,353 But again, only a few of these companies are likely to play out. 271 00:20:09,434 --> 00:20:10,533 They think so themselves. 272 00:20:11,273 --> 00:20:18,573 So if you play the long game here, you're going to end up with fiat rewards by buying these company shares, not Bitcoin. 273 00:20:19,133 --> 00:20:23,694 And yeah, you could argue, well, I'm going to take the temporary gains and then I'm going to cash out at the right moment. 274 00:20:23,694 --> 00:20:24,974 Then I'm going to go buy Bitcoin. 275 00:20:25,353 --> 00:20:25,633 Maybe. 276 00:20:25,633 --> 00:20:32,773 I mean, maybe, but maybe not. So why play with a middleman if your goal is to save in sats? 277 00:20:33,513 --> 00:20:39,033 My goal is never to cash out into fiat. Why would I take Bitcoin and cash out into fiat? 278 00:20:40,214 --> 00:20:44,593 Maybe if I wanted to buy something temporarily, I need to pay for something I needed to buy right 279 00:20:44,593 --> 00:20:49,573 away, like a medical emergency or something like that. I mean, there's moments. But when we're 280 00:20:49,573 --> 00:20:55,154 talking in the context of an investment, why would you sell Bitcoin for an inferior asset that's going 281 00:20:55,154 --> 00:21:01,773 down sort of in a straight line. If you play this out, your goal is to have as many sats as possible. 282 00:21:02,674 --> 00:21:08,353 And I think Bitcoin naturally wins this race because we are now living in an era where 283 00:21:08,353 --> 00:21:13,273 everything's online. Your email's online. Your accounting is online. You pay all your bills 284 00:21:13,273 --> 00:21:19,133 online. You order supplies online. Your assets are going to be online. Bitcoin wins in this 285 00:21:19,133 --> 00:21:24,553 digital native world because it is born of the internet. Jack Dorsey was recently interviewed 286 00:21:24,553 --> 00:21:30,493 and kind of put this in perspective. I think the podcast is called like revolution.social. I think 287 00:21:30,493 --> 00:21:35,174 I'll put a link if I can find that. And he had a good point on this. All you have to do is look at 288 00:21:35,174 --> 00:21:39,013 the first page of the white paper, which I encourage everyone to do, which is it only 289 00:21:39,013 --> 00:21:46,954 sought out to solve one problem, which is verifying that there's no double spending. You're not 290 00:21:46,954 --> 00:21:54,394 spending twice without having to rely upon a third party. Like it literally is just, how do we 291 00:21:54,394 --> 00:22:01,753 transmit money without having to rely on a Visa or MasterCard or a bank to tell us that this was 292 00:22:01,753 --> 00:22:07,613 not a double transaction. That was it. That was the innovation. And the title of the white paper 293 00:22:07,613 --> 00:22:14,853 is electronic peer-to-peer cash. Like that was the dream. That was the intention. It was supposed 294 00:22:14,853 --> 00:22:20,674 to be a way to transmit money protocol for the internet to transmit money anywhere without a Visa 295 00:22:20,674 --> 00:22:27,853 or a MasterCard or a bank or any gatekeeper whatsoever. And it's become, and it's not like, 296 00:22:27,974 --> 00:22:33,253 you know, I think the true Bitcoiners dream is still that it's money, but it's become this like 297 00:22:33,253 --> 00:22:38,394 digital gold narrative, which I think is important because like, if it's valuable, more people want 298 00:22:38,394 --> 00:22:44,194 to work on it. And you can think of Bitcoin like you would an equity or an asset. And if I make it 299 00:22:44,194 --> 00:22:49,993 better than that asset goes up and I can, you know, convert it to whatever I need or just, 300 00:22:49,993 --> 00:22:56,273 you know, give it to merchants to pay for food for my family, you know, anything I need to do 301 00:22:56,273 --> 00:23:02,273 until it's widely, you know, dramatically accepted. But it all goes back to that core concept of like 302 00:23:02,273 --> 00:23:08,414 the internet needs a native currency. It needs an open protocol for money transmission. Otherwise, 303 00:23:09,033 --> 00:23:15,093 we're reliant upon a Visa, a MasterCard, a Stripe, a Square, you know, all these companies, 304 00:23:15,394 --> 00:23:19,894 and you have to get permission from them to use them. And I just don't think that's fair 305 00:23:19,894 --> 00:23:22,533 for something as fundamental as money. 306 00:23:22,633 --> 00:23:24,013 And I also don't think it's fair 307 00:23:24,013 --> 00:23:26,013 for something fundamental as speech, 308 00:23:26,154 --> 00:23:27,853 which is where Nostra comes in. 309 00:23:29,974 --> 00:23:31,553 Okay, so Boostin and Let Me Know, 310 00:23:31,613 --> 00:23:33,833 have you tried Nostra and bounced off it? 311 00:23:33,954 --> 00:23:35,674 Or maybe you haven't given it a go yet. 312 00:23:36,174 --> 00:23:37,853 And if you have tried Nostra, 313 00:23:38,073 --> 00:23:40,053 what's made you stick around? 314 00:23:40,813 --> 00:23:43,073 And if I get some good answers to this question, 315 00:23:43,073 --> 00:23:45,174 I'll tell you what's made me stick around 316 00:23:45,174 --> 00:23:47,633 and why, even though I'm not a big social media user, 317 00:23:47,633 --> 00:23:49,974 I find some utility in Noster. 318 00:23:50,093 --> 00:23:51,894 So boost in and tell me if you've tried it, 319 00:23:51,993 --> 00:23:52,813 if you bounced off, 320 00:23:52,873 --> 00:23:54,113 and if you have yet to give it a go. 321 00:23:56,894 --> 00:23:58,993 Now, speaking of Jack there, 322 00:24:00,674 --> 00:24:03,234 Jack Dorsey's got a few companies 323 00:24:03,234 --> 00:24:05,734 and Block is one of them 324 00:24:05,734 --> 00:24:06,954 and Square is one of them. 325 00:24:08,053 --> 00:24:09,013 Cash App, I believe. 326 00:24:09,073 --> 00:24:10,813 I'm probably missing one or two other ones. 327 00:24:11,493 --> 00:24:14,394 And Square had some big news. 328 00:24:15,073 --> 00:24:16,954 You might recall at the Bitcoin 2025 329 00:24:16,954 --> 00:24:23,533 conference, they made the following announcement. So if you're wondering if Bitcoin is still just an 330 00:24:23,533 --> 00:24:30,573 asset, the answer is no. It's already a network. It's already a protocol. And now Block is leading 331 00:24:30,573 --> 00:24:36,373 the effort to make it into the world's best payment system. So today we're taking the next step. 332 00:24:36,974 --> 00:24:42,553 For the first time ever, businesses will be able to accept Bitcoin natively directly through the 333 00:24:42,553 --> 00:24:47,654 square point of sale just like they would with cash credit cards and tap to pay 334 00:24:47,654 --> 00:25:09,347 no clunky workarounds just one seamless elegant flow for both the customer and the business now then we shortly found out that well it actually not quite ready yet Well this week Square enabled Bitcoin Lightning payments for its first batch of merchants 335 00:25:09,987 --> 00:25:12,647 And once those merchants are fully rolled out to their business, 336 00:25:12,987 --> 00:25:17,027 you could potentially have 4 million different point of sales terminal users 337 00:25:17,027 --> 00:25:20,087 that could enable Lightning payments. 338 00:25:20,247 --> 00:25:22,987 It doesn't mean they will, but that's pretty big. 339 00:25:22,987 --> 00:25:25,887 And it's just right alongside all the other payment options. 340 00:25:26,087 --> 00:25:28,567 It's just one of the options users will have available. 341 00:25:28,927 --> 00:25:32,507 And I have to say, if I see that option, I'll probably use it, 342 00:25:32,567 --> 00:25:35,167 assuming, you know, I'm not making some giant pizza purchase. 343 00:25:36,267 --> 00:25:41,487 But like, you know, maybe a tank of gas or something just to help support that. 344 00:25:41,587 --> 00:25:42,507 I just would love to see it. 345 00:25:42,627 --> 00:25:46,147 And if you see it anywhere out there on a square point of sale terminal, 346 00:25:46,767 --> 00:25:47,527 boost in and let me know. 347 00:25:52,987 --> 00:25:55,707 All right, coming up, your boost. 348 00:25:56,007 --> 00:25:57,447 Lots of updates. 349 00:25:58,027 --> 00:26:00,067 Final clip of the week you won't want to miss, 350 00:26:00,147 --> 00:26:01,267 and of course, the state of the network. 351 00:26:01,787 --> 00:26:03,327 But before we go on, I want to let you know 352 00:26:03,327 --> 00:26:05,827 you can support the show by doing what you do. 353 00:26:06,267 --> 00:26:07,527 You want to stack Sats on River? 354 00:26:07,587 --> 00:26:09,447 One of the best ways to stack Sats in the U.S. 355 00:26:09,447 --> 00:26:14,207 Plus, they have that 3.8% cash in Sats interest savings account. 356 00:26:14,347 --> 00:26:15,167 Woo-wee! 357 00:26:15,687 --> 00:26:18,767 We'll use our link in the show notes to support the show. 358 00:26:19,287 --> 00:26:20,647 Now, if you're all about self-custody, 359 00:26:20,687 --> 00:26:22,207 you're in Canada or the U.S., 360 00:26:22,207 --> 00:26:27,847 check out the Bitcoin Whale, an amazing automatic self-custody platform. Buy and sell directly from 361 00:26:27,847 --> 00:26:33,267 your own wallets, Lightning or on-chain. Now, speaking of Lightning, you got some sats and you 362 00:26:33,267 --> 00:26:37,487 want to convert them into a gift card. The Bitcoin company has hundreds of gift cards and they only 363 00:26:37,487 --> 00:26:43,227 do Bitcoin. You can sign in with Lightning too. No user account required. That's the Bitcoin 364 00:26:43,227 --> 00:26:48,367 company. Link in the show notes. Time to stack your sats while you're paying your bills, swiping 365 00:26:48,367 --> 00:26:54,727 in your debit card. That's where Fold comes in. Really popular in our audience, and I use it every 366 00:26:54,727 --> 00:27:00,867 single day, the Fold card. And last but not least, one last link, Salt Lending. You want to get access 367 00:27:00,867 --> 00:27:04,567 to your Bitcoin value without selling it? Salt Lending. They have a bunch of great options. 368 00:27:04,687 --> 00:27:09,547 Been using them for a bit on and off. It's been working great. All those links in the notes. 369 00:27:18,367 --> 00:27:39,687 Four score and seven boosts to go. 370 00:27:39,687 --> 00:27:42,567 And we do have some boosts to support the show this week. 371 00:27:42,627 --> 00:27:45,247 People send value directly to the show using the Lightning Network 372 00:27:45,247 --> 00:27:48,507 with a podcasting 2.0 technology called Boost. 373 00:27:49,107 --> 00:27:51,627 And Satsquatch is our baller booster this week 374 00:27:51,627 --> 00:27:54,927 with 75,000 sats. 375 00:27:54,927 --> 00:27:56,427 Hey, rich lobster! 376 00:28:03,247 --> 00:28:03,687 Woo! 377 00:28:04,347 --> 00:28:05,027 Satsquatch writes, 378 00:28:05,187 --> 00:28:06,547 Boom-a-grandma, rang-rang. 379 00:28:06,947 --> 00:28:08,227 Keep up the fine harangue. 380 00:28:08,347 --> 00:28:10,167 Still the best show in Satoshi land. 381 00:28:11,687 --> 00:28:12,207 Boost! 382 00:28:12,727 --> 00:28:13,567 Thank you, sir. 383 00:28:14,067 --> 00:28:14,767 Thank you, Satsquatch. 384 00:28:14,767 --> 00:28:16,207 Appreciate that baller boost. 385 00:28:16,567 --> 00:28:17,427 You know what? 386 00:28:17,647 --> 00:28:19,467 Thank you for helping us help you. 387 00:28:19,627 --> 00:28:22,407 Thank you for helping us help you help us all. 388 00:28:22,567 --> 00:28:24,547 Yes, and appreciate that baller boost. 389 00:28:25,527 --> 00:28:29,727 PJ is here with 22,322 sats. 390 00:28:34,567 --> 00:28:36,387 That's a big one, PJ. 391 00:28:37,007 --> 00:28:37,767 Thank you. 392 00:28:37,927 --> 00:28:40,787 He writes, I think he was trying to send me in a longer message. 393 00:28:40,907 --> 00:28:44,167 So he says, I sent you some more info regarding my mining. 394 00:28:44,627 --> 00:28:47,307 So he says, my summer electrical rates are here, 395 00:28:47,807 --> 00:28:50,587 and I have a full billing cycle to check some numbers to share. 396 00:28:50,767 --> 00:28:51,607 Oh, this is good. 397 00:28:52,207 --> 00:28:55,367 People have a real interest in mining Bitcoin on solar, including myself. 398 00:28:55,847 --> 00:28:56,807 So this is what Jeff says. 399 00:28:57,207 --> 00:29:00,067 I've been running my miner at 2,000 watts daily. 400 00:29:00,067 --> 00:29:04,147 It fires up when my solar hits 2,000 watts and shuts off at 5 p.m. 401 00:29:04,287 --> 00:29:05,847 to avoid peak grid rates. 402 00:29:06,667 --> 00:29:09,807 This ends up being about 8.5 hours of mining per day 403 00:29:09,807 --> 00:29:13,927 and earns between 1,000 and 1,300 sats. 404 00:29:14,167 --> 00:29:17,427 and that consumes 17 kilowatt hours. 405 00:29:18,207 --> 00:29:22,307 This month, the miner consumed 500 kilowatt hours, 406 00:29:22,467 --> 00:29:26,047 earning 33,247 sets. 407 00:29:26,347 --> 00:29:29,267 At the time of the current price of $120,000, 408 00:29:29,687 --> 00:29:33,167 that's around $39.92 in value I earned. 409 00:29:33,467 --> 00:29:35,607 If I sold that power back to the grid instead, 410 00:29:36,047 --> 00:29:39,487 I would have earned $37 of credit towards my bill. 411 00:29:40,107 --> 00:29:40,827 Here's the kicker. 412 00:29:41,187 --> 00:29:43,167 If I ran this miner at the same times, 413 00:29:43,167 --> 00:29:46,927 But without Solart, it would have cost me $94.20. 414 00:29:47,647 --> 00:29:51,167 So as it stands, I'm breaking even cost-wise, 415 00:29:51,547 --> 00:29:54,847 essentially putting that $37 into SAT savings account monthly. 416 00:29:55,447 --> 00:29:56,907 That's fascinating, Jeff. 417 00:29:57,607 --> 00:30:00,947 Okay, so you're running for 8.5 hours a day. 418 00:30:01,267 --> 00:30:04,127 You're earning around 1,000 to 1,300 SATs a day. 419 00:30:04,927 --> 00:30:09,007 For an entire month, that's around 500 kilowatt hours of power, 420 00:30:09,007 --> 00:30:13,527 which earned you a total this month of 33,247 sats, 421 00:30:14,267 --> 00:30:15,487 which is about $40, 422 00:30:16,127 --> 00:30:18,387 which is just above the $37 credit 423 00:30:18,387 --> 00:30:20,427 if you just would have sold that solar energy right back. 424 00:30:21,187 --> 00:30:22,907 But if you would have used grid power, 425 00:30:23,447 --> 00:30:25,767 it would have cost you $94.20. 426 00:30:26,167 --> 00:30:27,747 So that's a pretty big difference. 427 00:30:27,867 --> 00:30:29,507 So the solar really makes a difference there. 428 00:30:30,087 --> 00:30:31,347 He says, here's some power reference. 429 00:30:31,347 --> 00:30:34,307 My home's total power consumption for the month 430 00:30:34,307 --> 00:30:36,807 was 1.5 million megawatt hours 431 00:30:36,807 --> 00:30:40,087 and total solar production was 1.1 megawatt hours. 432 00:30:40,847 --> 00:30:44,807 And I only imported 555 kilowatt hours from the grid. 433 00:30:45,127 --> 00:30:46,587 The rest was all covered by my solar. 434 00:30:47,167 --> 00:30:48,327 As always, thanks for the great show. 435 00:30:48,847 --> 00:30:50,187 Thanks for that great boost, Jeff. 436 00:30:50,467 --> 00:30:51,587 Really appreciate that. 437 00:30:51,687 --> 00:30:53,167 I'm going to soak that up for a second. 438 00:30:53,667 --> 00:30:56,347 I've often thought excess solar is the way to go. 439 00:30:56,807 --> 00:31:00,447 And I like the idea of kind of timing it around 440 00:31:00,447 --> 00:31:02,507 or automating it around other large loads. 441 00:31:03,007 --> 00:31:05,627 So if you need to run the AC or the washer and dryer, 442 00:31:05,707 --> 00:31:06,327 really the dryer, 443 00:31:06,807 --> 00:31:10,767 You know, maybe it'd be even great if he could crank down the mining proportionally. 444 00:31:11,147 --> 00:31:14,327 If anybody else has any experience with solar mining, please send it in. 445 00:31:14,747 --> 00:31:16,347 I think people have a big interest in there. 446 00:31:16,707 --> 00:31:17,367 And thanks, PJ. 447 00:31:18,067 --> 00:31:21,247 Appreciate that information and appreciate that boost. 448 00:31:21,607 --> 00:31:22,127 He's a good guy. 449 00:31:22,407 --> 00:31:23,367 He's a real good guy. 450 00:31:23,527 --> 00:31:24,167 No, he's a great guy. 451 00:31:24,687 --> 00:31:28,007 Paranoid Coder comes in with 2,222 sats. 452 00:31:28,267 --> 00:31:28,967 That's a Rotux. 453 00:31:29,967 --> 00:31:31,087 And he just says boost. 454 00:31:31,527 --> 00:31:31,927 Boost! 455 00:31:31,927 --> 00:31:36,427 And a Monday is here with 4,444 sets. 456 00:31:36,567 --> 00:31:36,907 McDuck. 457 00:31:36,947 --> 00:31:39,087 Things are looking up for old McDuck. 458 00:31:39,147 --> 00:31:39,947 Could be an Aflac. 459 00:31:40,387 --> 00:31:47,127 He says the best part of the Trump-Powell drama is how Trump keeps talking about horrible Powell is when he was the one who appointed him. 460 00:31:48,207 --> 00:31:48,987 I know. 461 00:31:49,387 --> 00:31:49,687 I know. 462 00:31:49,847 --> 00:31:51,827 And then he says, well, but Biden appointed him again. 463 00:31:52,527 --> 00:31:56,807 I was absolutely blown away by the clip where Trump said, quote, he didn't know why Biden appointed him. 464 00:31:57,247 --> 00:31:57,747 He didn't. 465 00:31:58,027 --> 00:31:58,487 Trump did. 466 00:31:58,707 --> 00:31:59,047 Ah! 467 00:31:59,647 --> 00:32:01,207 I just think this means I should buy more Bitcoin. 468 00:32:01,207 --> 00:32:12,527 Yeah, there you go. That's really the conclusion. Also, when your president refers to the reserve currency as the dollar standard, another reason to buy Bitcoin, in my personal opinion. 469 00:32:13,287 --> 00:32:16,507 Gene Bean, thank you for the boost. Gene Bean's here with 4,096 sats. 470 00:32:16,647 --> 00:32:17,947 The traders love the vol. 471 00:32:18,047 --> 00:32:28,987 Hey, Gene Bean. He says, yeah, keep the Fed chair news. Regarding wallets, I actually have a Jade Plus. I like it fine. But that Bitbox O2 Nova that works with the iPhone is really enticing. I may get one. 472 00:32:28,987 --> 00:32:33,587 for very long-term hodl what do you think about the trezor one it seems like there's nothing to 473 00:32:33,587 --> 00:32:39,087 give there's nothing to give out as it's usb powered i've got a couple while back in a multi 474 00:32:39,087 --> 00:32:43,687 sig wall i like the simplicity i'm curious on your take yeah so i do like the one of the trezor 475 00:32:43,687 --> 00:32:48,807 products and you got me there too gene i also like that it doesn't have a battery i don't want 476 00:32:48,807 --> 00:32:55,167 my cold wall to have a battery just i'll hook up a 9 volt or usb whatever it takes and as regarding 477 00:32:55,167 --> 00:33:00,587 the iPhone. Yeah, I think it's either the BitKey right now or the BitBox O2 that are your best 478 00:33:00,587 --> 00:33:04,727 options if you want to have cold storage with an iPhone. I could be wrong, but I think you got 479 00:33:04,727 --> 00:33:09,947 all that right. And between the two, between the BitKey and the BitBox O2, I'd go with the BitBox 480 00:33:09,947 --> 00:33:15,047 O2 because now you're with BitKey, you're really dependent on Block, which they'll probably be 481 00:33:15,047 --> 00:33:22,647 around for a while. I do have one family member trying the BitKey from Block. So, you know, as I 482 00:33:22,647 --> 00:33:25,027 and experiment with, like, when they get a new phone or something like that. 483 00:33:25,647 --> 00:33:27,707 I'll, uh, I'll let you know how it goes. 484 00:33:28,387 --> 00:33:29,147 Thank you for the boost, Gene. 485 00:33:29,427 --> 00:33:30,307 Always good to hear from you. 486 00:33:31,447 --> 00:33:33,447 KG2MV is here with 2,025 sats. 487 00:33:33,667 --> 00:33:34,767 Well, I'll be dipped. 488 00:33:35,587 --> 00:33:37,347 He writes, I earned these sats listening to you. 489 00:33:37,487 --> 00:33:39,407 Seems fair that the proof of work belongs to you. 490 00:33:39,587 --> 00:33:40,007 More to come. 491 00:33:40,647 --> 00:33:41,887 Aw, thanks, KG. 492 00:33:42,427 --> 00:33:43,147 Well done. 493 00:33:43,387 --> 00:33:44,147 Appreciate that. 494 00:33:44,667 --> 00:33:46,607 Ace Ackerman's here with the Road Ducks. 495 00:33:47,747 --> 00:33:49,647 Jay Powell resigns at the end of September, 496 00:33:49,847 --> 00:33:51,647 and his replacement lowers rates just in time 497 00:33:51,647 --> 00:33:52,747 for the fourth quarter Bitcoin? 498 00:33:53,027 --> 00:33:54,607 Mega bull run. 499 00:33:56,067 --> 00:33:57,487 The giga run. 500 00:33:58,107 --> 00:34:00,427 Okay, here's my counter, Ace. 501 00:34:01,047 --> 00:34:03,007 If JPOW gets out this year 502 00:34:03,007 --> 00:34:04,047 and they bring somebody else in 503 00:34:04,047 --> 00:34:05,147 and he cuts rates, 504 00:34:06,087 --> 00:34:07,947 could we see the bond market freak out? 505 00:34:08,327 --> 00:34:10,287 Because who cuts rates 506 00:34:10,287 --> 00:34:11,307 when everything's ripping? 507 00:34:11,847 --> 00:34:13,947 And if the bond market freaks out, 508 00:34:14,767 --> 00:34:15,967 then you'd actually see 509 00:34:15,967 --> 00:34:17,807 interest rates on credit cards 510 00:34:17,807 --> 00:34:18,987 and housing go up. 511 00:34:19,187 --> 00:34:20,107 We've actually seen that happen 512 00:34:20,107 --> 00:34:21,047 once before, I believe. 513 00:34:21,647 --> 00:34:31,147 So a rate cut doesn't necessarily mean housing rates and credit cards and those types of things that are set by that price go down. 514 00:34:31,747 --> 00:34:39,007 In fact, sometimes they go up because they react in a way that says this is not a healthy thing to do, right? 515 00:34:39,027 --> 00:34:39,767 They get spooked. 516 00:34:40,427 --> 00:34:40,847 We'll see. 517 00:34:41,447 --> 00:34:44,067 Then again, people love a money printer, right? 518 00:34:44,487 --> 00:34:45,907 So you say September. 519 00:34:46,367 --> 00:34:47,767 September seems very possible. 520 00:34:48,467 --> 00:34:50,887 I keep hearing rumors that it could be any day now, right? 521 00:34:51,647 --> 00:34:52,567 So we'll see. 522 00:34:52,967 --> 00:34:53,607 Thank you for the boost. 523 00:34:54,287 --> 00:34:56,667 Keystone Hoddle's here with 10,000 sats. 524 00:34:56,807 --> 00:34:58,547 It's over 9,000! 525 00:34:59,367 --> 00:35:01,667 Shout out to my friend Satsquatch for telling me about TWIB. 526 00:35:01,727 --> 00:35:02,227 Hey, awesome! 527 00:35:03,567 --> 00:35:07,587 Thank you, Satsquatch, and thank you, Keystone, for coming in with 10,000 sats. 528 00:35:08,307 --> 00:35:09,807 Appreciate that a bunch, you guys. 529 00:35:11,447 --> 00:35:13,027 HDW39's here with 5,000 sats. 530 00:35:14,227 --> 00:35:15,767 Thanks for the consistent signal. 531 00:35:15,927 --> 00:35:17,987 I do appreciate your takes on political views, 532 00:35:18,067 --> 00:35:20,307 but I think I'll get that covered in so many pods, 533 00:35:20,307 --> 00:35:23,547 I'd prefer to your take on the network protocol and open source software projects in Bitcoin. 534 00:35:23,907 --> 00:35:28,927 So we got this feedback, which is political news a couple of times. 535 00:35:29,407 --> 00:35:33,007 And I always find this interesting because I don't consider it political. 536 00:35:33,287 --> 00:35:38,987 To me, it's financial news, financial news that's going to have a big impact on the macroeconomic 537 00:35:38,987 --> 00:35:42,007 situation that absolutely will have consequences for Bitcoin. 538 00:35:42,607 --> 00:35:47,447 But I think probably because Trump gets involved in all of that, I think people kind of associate 539 00:35:47,447 --> 00:35:48,807 it with political news. 540 00:35:48,807 --> 00:35:59,747 I think in more of a historical context, like if we think back five years from now, like you want to listen to TWIB from five years, in five years in the future, you want to listen to one of these episodes. 541 00:36:00,347 --> 00:36:12,547 This is kind of documenting what happened here, how this whole thing fell apart, how J-Pow, who supposedly gave us one of the greatest soft landing in Fed chair histories, where, I mean, inflation was really crazy. 542 00:36:12,547 --> 00:36:15,467 The official numbers were what, 8, 9%, but we know it was way more than that. 543 00:36:16,047 --> 00:36:19,247 And he gets it down to somewhere between 2 and 1%. 544 00:36:19,247 --> 00:36:20,347 He gets it down. 545 00:36:20,427 --> 00:36:21,007 I mean, let's be real. 546 00:36:21,067 --> 00:36:22,167 There's a lot of factors there. 547 00:36:22,827 --> 00:36:32,047 But supposedly, the guiding hand of the Fed, if you go with the narrative, has reduced inflation while keeping employment high. 548 00:36:32,547 --> 00:36:38,927 So they managed to bring down inflation without causing the ton of pain they said they would and essentially create a soft landing. 549 00:36:38,927 --> 00:36:42,507 and we never had the recession that everybody kept saying we were going to have for like the 550 00:36:42,507 --> 00:36:49,047 last three years. So JPOW, by how you measure a Fed chair, now I think you could argue there 551 00:36:49,047 --> 00:36:54,787 shouldn't be a Fed, but by how you measure the Fed seemingly has been successful. I don't think 552 00:36:54,787 --> 00:36:58,827 that's political. I think it's a fascinating historical development that we should capture, 553 00:36:59,127 --> 00:37:03,267 but I have seen that. You're not the only one that feels like it's political news, 554 00:37:03,267 --> 00:37:04,247 So I appreciate that feedback. 555 00:37:04,727 --> 00:37:05,367 Thank you, HG. 556 00:37:06,007 --> 00:37:13,367 User 51 is here with 9,000 sats, which is not over 9,000, but is 9,000 right there. 557 00:37:13,627 --> 00:37:15,367 This is a tasty burger. 558 00:37:15,367 --> 00:37:18,747 Yeah, you see, I don't have a, it's just 9,000, because 9,000 is still great. 559 00:37:19,247 --> 00:37:19,747 So what's up? 560 00:37:19,867 --> 00:37:21,947 Yeah, I got answers, and I want some questions. 561 00:37:22,087 --> 00:37:22,927 I'll tell you what's up. 562 00:37:23,087 --> 00:37:23,407 Value! 563 00:37:23,567 --> 00:37:24,847 Coming in hot with the booze! 564 00:37:24,867 --> 00:37:39,800 No message just value from User 51 And User 12 is here with 3 sats Just pump the brakes right there Really interesting stuff from PJ there about the solar power mining I agree with HG39 that a bit of politics is good and often provides a welcome laugh 565 00:37:39,920 --> 00:37:44,280 but the hardware and software storage and usage conversations are the most valuable. 566 00:37:44,440 --> 00:37:49,481 For example, an interesting conversation came up recently on our local Telegram group about gap limits on wallets. 567 00:37:49,780 --> 00:37:50,680 There's just so much to know. 568 00:37:51,340 --> 00:37:53,200 And record your journey to Linux and beyond, Chris. 569 00:37:53,820 --> 00:37:54,260 Thanks. 570 00:37:54,860 --> 00:37:56,200 Yeah, local telegram group. 571 00:37:56,300 --> 00:37:57,320 I like that terminology. 572 00:37:57,960 --> 00:37:59,460 I don't know why that just really stood out at me. 573 00:37:59,600 --> 00:38:01,420 Like, your local telegram group. 574 00:38:02,041 --> 00:38:02,860 You know, it's just a small group. 575 00:38:03,560 --> 00:38:05,340 Thanks for the boost and for the feedback. 576 00:38:06,021 --> 00:38:07,440 Jabits is here with 5,000 sats. 577 00:38:08,640 --> 00:38:10,180 Thanks for the solar info, PJ. 578 00:38:10,740 --> 00:38:12,021 And to Chris, of course, for the show. 579 00:38:12,021 --> 00:38:14,720 Yeah, PJ, you're a star this week. 580 00:38:14,820 --> 00:38:15,620 I love it. 581 00:38:16,021 --> 00:38:16,880 Oh, and you're welcome. 582 00:38:17,340 --> 00:38:17,740 You're welcome. 583 00:38:17,840 --> 00:38:18,560 Thank you very much. 584 00:38:19,460 --> 00:38:22,560 Nakamoto 6102 is here with 3,500 sats. 585 00:38:22,560 --> 00:38:31,260 and they just say thank you very much for the value thank you for the value thank you for 586 00:38:31,260 --> 00:38:36,160 everybody that participates in the value for value exchange i put this year show out there for free 587 00:38:36,160 --> 00:38:42,021 hoping hoping that it helps you navigate this crazy complex always developing always changing 588 00:38:42,021 --> 00:38:47,780 world with the highest signal that i know how to put together and so 44 of you stream sats as you 589 00:38:47,780 --> 00:38:49,840 listen to Thank Me and send back some value. 590 00:38:50,300 --> 00:38:53,780 Collectively, you stacked 73,000 and 76 sats with all that streaming. 591 00:38:54,160 --> 00:38:55,380 You combine that with our boosters, 592 00:38:55,580 --> 00:39:01,820 and this week's episode stacked 224,311 sats. 593 00:39:07,001 --> 00:39:08,700 Thank you, everybody. Appreciate it. 594 00:39:09,580 --> 00:39:11,720 If you'd like to get in on the fun, 595 00:39:11,900 --> 00:39:14,660 fountain.fm is probably the easiest way to do it. 596 00:39:14,740 --> 00:39:16,120 They make it easy to connect to Stripe. 597 00:39:16,120 --> 00:39:20,140 They make it easy to connect to Strike, and they host the Lightning Wall. 598 00:39:20,240 --> 00:39:22,220 But there's lots of self-hosted routes you can go as well. 599 00:39:22,340 --> 00:39:32,100 Check out the newpodcastapps.com website for all the apps, and AlbiHub, which, speaking of, we have an update to get into. 600 00:39:32,100 --> 00:39:48,800 Now, before we get to AlbiHub, I want to highlight a story that I'm trying to parse. 601 00:39:48,960 --> 00:39:53,200 I have been now for about six months, but there's been enough development that I want to bring it to you now. 602 00:39:54,001 --> 00:40:01,220 So the IMF has released a report that implies that Bukele is lying about El Salvador's Bitcoin purchases. 603 00:40:01,220 --> 00:40:22,440 And the key takeaways from the IMF report, which I'll link in the show notes, say that El Salvador is still on track to wind down its Bitcoin programs, that they're shutting down the Clevo wallet successfully, and that the recent Bitcoin activity that they've been reporting as new Bitcoin purchases is actually just El Salvador consolidating Bitcoin from other addresses that the state holds. 604 00:40:22,440 --> 00:40:31,660 They also imply that there has been some increase in Bitcoin holdings as a result of consolidating and a result of their earnings from Chivo wallets. 605 00:40:32,001 --> 00:40:40,460 But there has been no new purchases of Bitcoin and there will be no new purchases if El Salvador wants that sweet, sweet IMF honey. 606 00:40:41,180 --> 00:40:43,860 Now, Bekele has denied this on X. 607 00:40:43,860 --> 00:40:59,580 It says the IMF report is wrong. It says, if we didn't stop when the world ostracized us and most Bitcoiners abandoned us, we won't stop now. And it won't stop in the future. Proof of work over proof of winning. Or equals proof of winning. 608 00:40:59,580 --> 00:41:01,760 It's not exactly a denial, though. 609 00:41:01,840 --> 00:41:03,640 It's just claiming that they're going to continue. 610 00:41:04,481 --> 00:41:07,380 It's a confusing situation coming out of El Salvador, 611 00:41:07,680 --> 00:41:12,260 and I've seen reports on and off now for, like I said, almost half a year that this is going on. 612 00:41:12,620 --> 00:41:14,240 If you've got any insights, let me know. 613 00:41:15,521 --> 00:41:20,420 Electrum 4.6.0 has been released, and it adds support for submarine swaps 614 00:41:20,420 --> 00:41:24,100 using Noster for discoverability. 615 00:41:24,760 --> 00:41:25,180 Noster. 616 00:41:25,180 --> 00:41:33,440 I think you're starting to get a hint of perhaps where Nostra could play a role in the Bitcoin ecosystem, even if you don't use it as X or Blue Sky replacement. 617 00:41:34,800 --> 00:41:42,460 AlbiHub version 1.118 is now out, and it offers Bolt 12. 618 00:41:45,440 --> 00:41:47,041 This is really good to see. 619 00:41:47,680 --> 00:41:48,780 This is really good. 620 00:41:49,080 --> 00:41:54,420 I'm thrilled at the support of Bolt 12 because it brings a lot of advanced features to Lightning. 621 00:41:54,420 --> 00:42:00,300 In fact, Bolt 12 would significantly improve the state of boosts for podcasting 2.0. 622 00:42:00,420 --> 00:42:02,660 But of course, we have to see support everywhere else. 623 00:42:03,481 --> 00:42:08,521 AlbiHub 1.18 also integrates swaps, both on-chain and on-chain to Lightning and vice versa. 624 00:42:09,140 --> 00:42:12,440 You can also now generate Lightning addresses for your sub-wallets. 625 00:42:13,061 --> 00:42:17,760 So if you, like I, have several sub-wallets on my AlbiHub, they can now get their own direct address. 626 00:42:18,660 --> 00:42:24,260 Channel rebalancing is now in beta with a new UI, and it looks really sharp. 627 00:42:24,420 --> 00:42:30,981 They say they've partnered with Bolts to swap from Lightning to on-chain and on-chain to Lightning without ever having to leave the hub. 628 00:42:31,440 --> 00:42:40,640 You can now set up auto-swap-outs to keep swapping your Lightning balance periodically to your cold wallet and say goodbye to incoming liquidity headaches. 629 00:42:41,280 --> 00:42:44,340 That is pretty slick, guys. Well done. 630 00:42:45,561 --> 00:42:51,561 That's a feature I've honestly been requesting since before they released AlbiHub to the public, so I am very thrilled to see that. 631 00:42:51,561 --> 00:43:00,061 Also noteworthy this week, Albi released an Albi Bitcoin Payments MCP for AI agents. 632 00:43:00,300 --> 00:43:08,140 So it's a Albi Bitcoin Payments connector to enable Lightning payments inside of AI agents. 633 00:43:09,001 --> 00:43:16,880 Albi has really been cooking and still enjoying and using Albi Hub for some of our Bitcoin Lightning infrastructure. 634 00:43:16,880 --> 00:43:22,100 and it's probably become one of our most reliable nodes over the last few months. 635 00:43:22,380 --> 00:43:24,140 So they've really built something awesome over there. 636 00:43:24,340 --> 00:43:25,160 Great to see it continue. 637 00:43:35,820 --> 00:43:40,440 Over the last few weeks, I've covered that the White House has seemed to have pivoted 638 00:43:40,440 --> 00:43:46,580 to pump the economy, get liquidity into the system, let the banks buy more treasuries, 639 00:43:46,880 --> 00:43:48,380 Do whatever we can do. 640 00:43:48,501 --> 00:43:50,620 Pressure the Fed to lower interest rates. 641 00:43:50,981 --> 00:43:52,320 We got to go all in. 642 00:43:52,440 --> 00:43:55,700 We got to grow, grow, grow, and we got to debase, debase, debase. 643 00:43:56,080 --> 00:43:59,720 But how do you do that without causing massive inflation? 644 00:43:59,840 --> 00:44:01,620 This is something we've been debating on the show. 645 00:44:01,720 --> 00:44:04,780 You've been boosting in your opinions on if inflation is going to go up or down. 646 00:44:05,380 --> 00:44:10,940 And it started to click for me with all this rush to get the Genius Act signed. 647 00:44:12,180 --> 00:44:15,880 Stablecoins are going to play a role here, but sort of indirectly. 648 00:44:15,880 --> 00:44:21,280 You see, the stable coins are going to help create purchasers of U.S. debt. 649 00:44:22,080 --> 00:44:26,640 But we need sinks so that way we don't inflate up the economy like crazy. 650 00:44:27,001 --> 00:44:31,900 We need something that's going to suck up that liquidity that doesn't directly inflate the economy. 651 00:44:32,541 --> 00:44:36,981 And Jack Mahler's, in his recent podcast, The Jack Mahler Show, which I'll link to, 652 00:44:37,620 --> 00:44:42,880 explained this process and how stable coins, Bitcoin, and probably gold, 653 00:44:42,880 --> 00:44:46,240 will play a very significant role in, perhaps, 654 00:44:46,780 --> 00:44:50,600 keeping all of this liquidity pump from inflating us to beyond. 655 00:44:51,200 --> 00:44:52,440 This is what I've been saying, guys. 656 00:44:52,900 --> 00:44:55,100 Debase the dollar against what? 657 00:44:55,620 --> 00:44:57,080 What are you going to debase it against? 658 00:44:57,501 --> 00:44:58,960 I tell you what's a really bad idea. 659 00:44:59,400 --> 00:45:01,720 Do not debase the dollar against housing. 660 00:45:01,981 --> 00:45:02,561 Bad idea. 661 00:45:02,561 --> 00:45:07,580 Because if housing starts to rip 60% year over year, that's bad. 662 00:45:07,920 --> 00:45:09,940 A lot of people are going to be really pissed 663 00:45:09,940 --> 00:45:11,440 because they don't want to be homeless. 664 00:45:11,940 --> 00:45:12,660 Here's another one. 665 00:45:12,880 --> 00:45:15,600 Don't debase the dollar against eggs. 666 00:45:15,900 --> 00:45:16,940 Bad idea. 667 00:45:17,240 --> 00:45:21,700 Because people need to eat or else they'll be malnourished, starve, and die. 668 00:45:21,700 --> 00:45:25,280 So a bad idea would be debasing the dollar against eggs. 669 00:45:25,420 --> 00:45:26,260 Good idea. 670 00:45:26,561 --> 00:45:30,400 My recommendation, debase it against Bitcoin and gold. 671 00:45:31,160 --> 00:45:32,981 Are you guys following me now? 672 00:45:33,680 --> 00:45:35,481 That's the stablecoin idea. 673 00:45:35,840 --> 00:45:36,800 That's it. 674 00:45:36,800 --> 00:45:40,640 because the last logical conclusion I come to 675 00:45:40,640 --> 00:45:44,300 is that Bitcoin is the sink for stablecoin liquidity. 676 00:45:44,920 --> 00:45:48,940 So stablecoin's the sink for fiat inflation liquidity 677 00:45:48,940 --> 00:45:52,720 and Bitcoin is the sink for stablecoin liquidity. 678 00:45:53,460 --> 00:45:53,940 Do you understand? 679 00:45:54,280 --> 00:45:56,521 If you want stablecoins to grow, Bitcoin grows. 680 00:45:57,180 --> 00:45:58,940 You want to debase the dollar against something? 681 00:45:59,220 --> 00:45:59,600 Bitcoin. 682 00:46:00,320 --> 00:46:01,521 Put it to you this way. 683 00:46:02,160 --> 00:46:05,400 The United States sends Bitcoin to $500,000 a coin. 684 00:46:05,400 --> 00:46:14,140 that's 5x from here. Stable coins then have to 5x in growth. At least. That's five times the 685 00:46:14,140 --> 00:46:23,680 amount of demand for US debt. Guys, this is, I'm telling you, this is it. I'm telling you, 686 00:46:23,680 --> 00:46:26,280 I feel it in my bones. I really do. 687 00:46:35,400 --> 00:46:39,440 Let's check in on the state of the network. 688 00:46:39,440 --> 00:46:44,740 Before we wrap up here, the show is ending at block height 906,858. 689 00:46:45,260 --> 00:46:49,760 Bitcoin's USD price, one Bitcoin, is $118,420, 690 00:46:50,280 --> 00:46:55,360 which puts the sats per dollar at 844 sats to one US dollar. 691 00:46:56,081 --> 00:47:03,340 We're down 3.9% from our all-time high of $123,180, which was nine days ago. 692 00:47:03,340 --> 00:47:08,600 Now, the next estimated difficulty change is just 0.3% up. 693 00:47:09,420 --> 00:47:18,840 There are currently 22,955 nodes on the network, and Bitcoin Noughts is clocking in at 14.4% of that share. 694 00:47:19,780 --> 00:47:20,521 It's pretty good. 695 00:47:21,481 --> 00:47:22,440 Things are moving right along. 696 00:47:23,280 --> 00:47:27,541 And it's nice to see that 200-day moving average price get to $50,000. 697 00:47:28,041 --> 00:47:32,160 Generally, we don't go below that for very long, if ever. 698 00:47:32,740 --> 00:47:34,581 Takes a pretty bad bear market to get below that. 699 00:47:35,100 --> 00:47:36,541 So that is the state of the network. 700 00:47:36,900 --> 00:47:38,800 Things are cooking and moving right along. 701 00:47:52,280 --> 00:47:55,021 Now, I don't have a value for value track for you this week. 702 00:47:55,021 --> 00:48:01,720 I know it's the first time ever, but I'm waiting on the Fountain FM podcasting platform to finish up all of the integration on their end. 703 00:48:01,720 --> 00:48:02,460 So that's working. 704 00:48:02,760 --> 00:48:05,640 So I don't want to play a song if we can't boost them. 705 00:48:05,820 --> 00:48:08,280 But hopefully we'll have that wrapped up pretty soon. 706 00:48:08,920 --> 00:48:12,300 So if you made it this far, I want you to go to thisweekinbitcoin.show. 707 00:48:12,481 --> 00:48:16,600 That'll send you over to my site where we have links to all the previous episodes. 708 00:48:17,001 --> 00:48:20,700 Of course, the ways to support the show and the links to the stuff I talked about today. 709 00:48:20,740 --> 00:48:22,800 And sometimes more stuff that didn't make it into the show. 710 00:48:23,100 --> 00:48:24,600 So let me know how I did with the boost. 711 00:48:24,700 --> 00:48:30,880 My goal here is to make a show that focuses on the signal, doesn't get distracted by the emotions around what's happening. 712 00:48:30,880 --> 00:48:32,160 so a boost 713 00:48:32,160 --> 00:48:33,260 either what I missed 714 00:48:33,260 --> 00:48:33,880 how I did 715 00:48:33,880 --> 00:48:34,640 what you'd like to hear 716 00:48:34,640 --> 00:48:35,021 in the show 717 00:48:35,021 --> 00:48:35,740 all of that 718 00:48:35,740 --> 00:48:37,561 is always appreciated 719 00:48:37,561 --> 00:48:40,160 another way to support the show 720 00:48:40,160 --> 00:48:41,340 is by telling a friend 721 00:48:41,340 --> 00:48:42,340 sending somebody an episode 722 00:48:42,340 --> 00:48:43,420 you thought was particularly 723 00:48:43,420 --> 00:48:44,420 informative 724 00:48:44,420 --> 00:48:45,320 informational 725 00:48:45,320 --> 00:48:46,920 don't send them this part 726 00:48:46,920 --> 00:48:48,220 but send them the good stuff 727 00:48:48,220 --> 00:48:48,940 spread the word 728 00:48:48,940 --> 00:48:49,640 it's the number one way 729 00:48:49,640 --> 00:48:50,981 to promote podcasting 730 00:48:50,981 --> 00:48:52,340 thanks so much for joining me 731 00:48:52,340 --> 00:48:53,280 see you back here 732 00:48:53,280 --> 00:48:54,280 next week 733 00:49:00,880 --> 00:49:30,860 Thank you. 734 00:49:30,880 --> 00:50:00,860 Thank you. 735 00:50:00,880 --> 00:50:30,860 Thank you.