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Welcome in to This Week in Bitcoin, episode Lucky 66.

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My name is Chris, chrislas.com, jupiterbroadcasting.com.

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You know, 15 years ago, today, as I record, Satoshi Nakamoto posted their famous, well,

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what are their more famous quotes? If you don't believe me or don't get it, I don't have time to

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try to convince you. Sorry. Now, what's also pretty great is at the time Satoshi posted that,

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you could buy an entire Bitcoin for six cents, six U.S. pennies. So that mood, or as my kids

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would say, that vibe feels about right for this week as Bitcoiners have watched stable coins and

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the alt chains that enable them just get more and more attention from the U.S. administration

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that was elected in part by Bitcoiners.

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And the hits just keep coming today as I record.

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Last week, just after I wrapped up the show, rumors started surfacing pretty quickly that

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the Trump administration would be releasing a report that details the government's digital

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asset holdings.

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The Trump administration is expected to release.

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its first national crypto stockpile report on Wednesday stateside, detailing the structure

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and contents of the government's digital assets. This includes holdings under the strategic

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Bitcoin Reserve and the U.S. digital asset stockpile, which consists of cryptocurrencies

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seized through legal enforcement actions. Investors are eager to know how much Bitcoin

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the U.S. government actually owns. The report could also recommend national security and banking

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access reforms for crypto firms. We're back with Jordy Visser. Well, today we got a preview of the

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report. It's given out to select media. The full report will probably come out after I finish

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recording. And it does make recommendations to banks and the SEC, and it pushes for the passage

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of the Clarity Act. It calls for immediately enabling digital assets throughout the federal

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level to support them for trading. The report embraces DeFi, you could say. It says DeFi is a

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growth engine. And of course, it talks about stable coins are a way to strengthen the US dollar.

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Got to have that dollar dominance. And there's even some stuff in there about maybe making small

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crypto transactions a non-taxable event. But there's a pretty big omission in the report.

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It makes no mention, at least in the preview that we've seen so far, of any of the federal

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Bitcoin Reserve, its amount, where it's at, the status of the Bitcoin they supposedly hold.

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None of that is in there. Now, all of this comes from an executive order signed by the

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president in January, which I'm pretty sure asked for an accounting of the government's Bitcoin.

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But it doesn't appear to be in this report. Markets dipped just a little bit on it.

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And I think a lot of Bitcoiners are feeling a bit rugged right now.

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Well, here's my take.

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Don't get too upset just yet.

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The White House tends to play a bit of word games with us.

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Have you noticed this?

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When it comes to stockpiles and reserves, they draw a clear line between Bitcoin and all the other digital assets.

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But then when the president or David Sachs or really anyone from the White House speaks publicly about crypto, quote unquote, they interchange these things constantly and consistently.

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It's very mixed messaging from all the way from the top down at the White House.

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So I think it's pretty natural that the public would assume to expect some sort of Bitcoin

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accounting in this report because they're always intermixing these terms.

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But it could be that the White House intends to do a separate auditing of the Bitcoin,

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a separate reporting of the Bitcoin and the Bitcoin Reserve and their recommendations around

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that, which may go to further kind of signal the difference between Bitcoin and all the

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other digital assets.

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As I record right now, there's only rumors that we may see a separate report.

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Perhaps by the time I'm done recording, that'll be more firm.

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But the reaction by the Bitcoin community was swift, and people are getting more and more the sensation of feeling rugged.

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And I kind of feel it too.

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Like, they got elected on promising a Bitcoin reserve and making, you know, Bitcoin great again or whatever you want to say.

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And it's been nothing but genius act and clarity act.

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And then we get this report and it's like Bitcoin's not even in there.

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Could be ultimately a good thing, but where Bitcoiners are sitting right now with the

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information they have, it doesn't look great.

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And then selectively leaking it to like Coinbase and if, or not Coinbase, a CoinDesk and a

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few other outlets.

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It's weird.

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It feels a bit like the White House is playing crypto reporting favoritism.

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Maybe that's their prerogative, but it's just a weird way to disseminate that information

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to the public, especially in a decentralized market like this.

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So I think a lot of missteps here to get people pretty upset.

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But I'll keep my eyes to the ground and my sniffer to see if a separate Bitcoin reporter, if we get at least an ETA on when we might see that, even that would be pretty nice.

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something a bit historic happened in bitcoin this week and you might not have even noticed it

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a satoshi era bitcoiner as they're often called you know someone that's been around since the

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early days when satoshi was likely active sold a large bag 80 000 bitcoin kind of in one go they

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sold in like a few chunks, but they took a few days. We initially saw these coins move because

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they consolidated from several wallets into one wallet at Galaxy Digital. And then they did a big

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market sell netting around $9 billion in profit. Now, this is notable for a couple of reasons. And

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I think this is why it's worth talking about. It feeds into this narrative, first of all,

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just to be aware of that a lot of the OGs are cashing out as if people aren't taking profits

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at all different times of life and life's needs.

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But also, I think more importantly,

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number two, I would say,

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it demonstrates something to the market.

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It demonstrates to big money

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that the Bitcoin network can clear

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a $9 billion transaction in just minutes

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and continue ticking on.

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The Bitcoin price dipped,

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I think at most about 5%,

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and then rebound relatively quickly.

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Now, this is exceptionally impressive

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if you remember your history.

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During the Terra Luna crash in May of 2022,

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the Luna Foundation Guard, known as LFG, because they're cute and it was crypto.

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The nonprofit spent or sold 80,000 Bitcoin from their reserves in an attempt to stabilize the

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system, at the time worth about $3 billion. Bitcoin's price, as a result of a process that

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started dropped 60% from its peak in November of 2021. And then we grinded a bear market for a long

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time. That wasn't just the lunar crash, but it was part of it. It was a big part of it. That 80,000

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Bitcoin back then in May of 2022 wiped out the market. Now, in July of 2025, 5% dip. So that's

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really notable and a big deal. And it's something people are going to take notice of.

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But speaking of Luna, remember that, that algorithmic stablecoin that blew up?

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Well, Mr. Luna himself, Galaxy Digital CEO Mike Novogratz, went on CNBC, and I noticed,

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and I got the copy, I've got the receipts.

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Novogratz, just before Galaxy Digital facilitated the 80,000 Bitcoin sale, he goes on CNBC just

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hours, days beforehand, I'm not quite sure.

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And in my opinion, it looks like Novogratz is pumping ETH right before a ginormous, in fact, the largest in history, Bitcoin sale happens.

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Right now, if you could buy Ether or Bitcoin, which to buy?

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I own both. Listen, Ether's caught up a lot. It feels like if ETH takes out $4,000, it goes into price discovery.

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And so we feel kind of destined to at least knock on the $4,000 ceiling a few times.

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the narrative of ether is really powerful no it's not so this it's not powerful in fact they've

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they would admit themselves people you know that run the project it's central planners

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would acknowledge they have really struggled they thought they had something with web3 but

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after the web3 thing and nfts fell apart ether has really they tried ultrasound money before that

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that fell apart so the narrative is it's kind of a tech platform and if it's a tech platform

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You know, it's competing with Microsoft and it's competing with Amazon.

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And the market was really short.

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And now we have not just, you know, one, we have two major ETH treasury companies and another one coming, you know, and they're raising capital every day and buying Ether.

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And so there's not a lot of supply of ETH.

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Really?

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What's the limit?

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What's the supply limit of ETH?

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And how do you even measure that when you have groups like ConsenSys and others that got huge access of pre-mines or got access to ETH extremely cheap and sit on absolute ginormous bags and sell them off to any of the highest bidder whenever they want to take a little profit?

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And so I think ETH probably has a chance to outperform Bitcoin in the next three to six months.

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Oh, interesting that he would say that.

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so maybe he was thinking when they did their 80,000k sale when Galaxy Digital facilitated that

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sale maybe he thought the bitcoin price would tank from for three to six months so he felt pretty

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good going on there and making that call but the bitcoin market just ate it up those 80,000 coins

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were like business as usual to the point where if I didn't mention it some of you might not even

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know when this happened something that crashed the market wiped us out once before is now business

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as usual. So that tells us two things. The market in general, the buyer, has a much better

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understanding of Bitcoin's value proposition. When it happened in 2022, people just looked at it as a

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risk asset. Why buy? Oh, look, it's not a store of value. Ha ha ha ha. Then that digital gold

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narrative started to take effect since then. But we also can show this as measurably higher

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buying pressure that is sustained with Bitcoin. It seems to be going through a period of sustained

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buying pressure, probably in large part due to these corporate buying strategies.

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It's a hot product right now, right? Everywhere around the world, especially in Western governments,

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but not just Western governments, people are suffering from the monster that is currency

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debasement. Plebs, small businesses. I've been hearing a lot about small doctor's offices that

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are stacking Bitcoin. And now we have this new breed that's under the chat, the Bitcoin

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corporate treasury business. You know, you're Michael Saylors and you're Jack Maulers from

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Strike, who now is running 21. That company isn't even fully launched yet. It's not even fully

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formed. It's under review by the SEC right now. But that didn't stop Jack from breaking a bit of

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news, even though I think he's under the silence period.

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Yo, what is going on, everybody?

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I want to share some exciting 21 updates with you all.

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In particular, some exciting updates on our Bitcoin treasury.

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First, we at 21 expect to add 5,800 Bitcoin before our planned listing on a stock exchange.

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Second, we are increasing our Bitcoin holdings from at least 42,000 Bitcoin by the time our

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transaction is approved to at least 43,500 Bitcoin by the time our transaction is approved.

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These are big numbers. And I'm surprised since it is during the SEC quiet period

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that Jack can talk about this. But I wonder, and I'm asking you, listener, do you think Jack has

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found a hype loophole here that these Bitcoin treasury companies could take advantage of,

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assuming they have a proof of reserve.

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If you have a public proof of reserve,

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then you have a public Bitcoin wallet.

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And it seems like that would be public information.

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So Jack and team should be able to publicly comment

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on a publicly viewable wallet

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without breaking the rules of the SEC quiet period.

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Have they found some kind of Bitcoin or company hype loophole?

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You tell me.

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We show proof of reserves at 21.

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That allows anyone in the world to cryptographically guarantee and verify that we do in fact own the Bitcoin we claim we do.

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Before this announcement, our proof of reserves showed that we had a little over 37,000 Bitcoin held in escrow for 21.

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After this announcement, anyone in the world, you can now go check our proof of reserves.

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And there is currently over 43,000 Bitcoin sitting in escrow pending approval of our transaction.

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So you see what I'm saying?

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He's just telling you what's in a publicly accessible wallet, guys.

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You know?

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And what's funny to watch is all of these traditional financial wonks, now they're sitting up.

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They're wiping the drool off their face.

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They're leaning forward in their chairs.

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They couldn't wrap their head around a scarce asset, a digital scarce asset.

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because, you know, that's ephemeral.

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It's a digital thing.

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They don't understand it.

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You can't hold it in your hand.

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Ironically, they seem to simply and easily

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wrap their head around the idea of a treasury company.

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They like the idea of taking an asset

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and wrapping it in a security

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and selling it on the stock market

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and essentially selling paper versions of that asset.

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That's something classic Wall Street likes.

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And so they're seeing big numbers.

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They don't fully understand it.

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They're trying to because they like the money.

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and they like being able to get exposure to this money through these public companies.

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And I believe that the idea that's forming between Wall Street,

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these Bitcoin strategic companies, and the wonks that cover it

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is this is the way average folk, the no-coiner Joe, is going to stack in the future.

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When they finally have to give in and start buying into this asset,

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they're not going to buy spot Bitcoin.

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They're not going to go to River.

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I mean, they should, but they're not.

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They're going to buy it through some kind of third-party exposure and manage it through some sort of account.

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This is how the future these people will be getting exposure to Bitcoin not to Bitcoin directly but through these intermediaries It gross to us Bitcoiners but the financial wonks love it And they see the big numbers and they want to wrap their head around it And so Jack was called over to show up at Bloomberg He on set this time And this entire segment is it really good And it really

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telling. Let's talk a little bit about this new announcement where you're going to increase your

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Bitcoin holdings beyond the initial amount that you had stated back during the April launch.

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This would make you the third largest corporate holder of Bitcoin after Strategy and Mara.

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Is there a long-term strategy here to take over Strategy's role as the biggest holder or maybe even the second biggest holder and push Mara out of the way?

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Of course. I mean, listen, I think the capital markets will get to know me as many things, one of which is a competitor.

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I'm never going to sit up here and say I want to be second.

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So I think us at 21, we have a lot of confidence that we can do pretty much anything.

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The board, if you think about, consists of myself, Tether, and SoftBank.

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That's a lot of access to capital, a lot of technological experience, a lot of Bitcoin experience.

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So we're confident.

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First step is getting approved.

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But the notion that we've already been able to accumulate over 43,000 Bitcoin with an average price of just over 87,000.

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So we now own over $5 billion of Bitcoin.

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We have an unrealized gain of already over $1.3 billion.

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So a pretty small team and a pretty young company that's already made over a billion bucks.

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So a lot of progress so far, and I think it's just the beginning.

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All right.

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So let's put this into perspective, OK?

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That's not a bad start.

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But the amount of Bitcoin that 21 would need to accumulate to catch up and surpass strategy

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at this point, which he said he wants to do.

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He clearly said he wants to do.

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The numbers are pretty nuts.

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So with this week's addition, strategy currently holds 43,500 Bitcoin.

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No, I'm sorry.

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strategy just bought 43,500 Bitcoin this week, which brings their total holdings,

216
00:17:26,804 --> 00:17:35,905
strategy's total holdings, up to 628,791 Bitcoin. So they have almost 630,000 Bitcoin as of this

217
00:17:35,905 --> 00:17:45,905
week. That makes 21 short by about 585,000 Bitcoin. So in other words, in fiat prices today,

218
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21 would need to come up with 69,155,516,327.20 to catch up to Saylor. Now in this current cycle,

219
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in this halving cycle, there are 450 Bitcoins mined daily or issued, let's just say issued daily.

220
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MicroStrategy alone can at times buy thousands of Bitcoin in a single transaction, like the recent

221
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one that I just talked about. I mean, they just bought 43,000 Bitcoin. They'll buy 21,000 Bitcoin.

222
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They'll buy these ginormous amounts of Bitcoin in single purchases. The ETFs collectively accumulate

223
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hundreds to thousands of Bitcoin on average every day. If we look at IBIT just for the month of July,

224
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on average, so far, they've stacked 1,600 Bitcoin a day in flows into just IBIT. 1,600 Bitcoin

225
00:18:44,145 --> 00:18:46,925
on average for July so far, just into IBIT.

226
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These are all rough numbers,

227
00:18:49,064 --> 00:18:52,564
but if you look at the per day accumulation of Bitcoin,

228
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per day the market is buying somewhere

229
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between 1,500 to 5,000 or more Bitcoin per day.

230
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And 450 Bitcoin are getting issued a day.

231
00:19:03,264 --> 00:19:05,304
And you know Jack's well aware of this,

232
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but that means the scarcity is going to really hit the price

233
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as these companies are trying to accumulate

234
00:19:11,124 --> 00:19:13,425
and they're going to be bidding each other up.

235
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And so it's beyond what market prices today are, even though it's $69 billion right now to catch up to strategy, almost $70 billion to catch up to strategy.

236
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That's at July 2025 prices.

237
00:19:28,505 --> 00:19:31,985
But as these companies, and this is the third, this is the top three, right?

238
00:19:32,044 --> 00:19:35,344
There's three others, two others that are bigger and ones that are smaller.

239
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And they're all stacking.

240
00:19:37,905 --> 00:19:39,465
And Madman Maulers knows it.

241
00:19:39,465 --> 00:19:40,684
This is your main business.

242
00:19:40,844 --> 00:19:43,024
You're introducing a performance metric as well.

243
00:19:43,024 --> 00:19:45,725
called BPS, Bitcoin per share.

244
00:19:45,824 --> 00:19:46,864
Can you just briefly explain that?

245
00:19:47,064 --> 00:19:47,364
Yes.

246
00:19:47,465 --> 00:19:49,604
I mean, it's obviously a rip on earnings per share.

247
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But listen, we're a Bitcoin company all the way to our core.

248
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That's even how we measure our performance.

249
00:19:55,405 --> 00:19:57,145
In my opinion, as a Bitcoiner,

250
00:19:57,445 --> 00:20:00,584
measuring your performance in dollars is not that impressive.

251
00:20:01,044 --> 00:20:02,685
My coffee's gone up in dollar terms.

252
00:20:02,784 --> 00:20:04,445
This chair has gone up in dollar terms.

253
00:20:04,564 --> 00:20:05,245
So has the S&P.

254
00:20:05,344 --> 00:20:05,945
So has the Mag7.

255
00:20:06,064 --> 00:20:06,524
So has Bitcoin.

256
00:20:06,824 --> 00:20:10,145
Everything goes up in dollar terms because fiat continues to get debased.

257
00:20:10,145 --> 00:20:12,564
So what we want to measure ourself in is Bitcoin.

258
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Bitcoin is the new hurdle rate.

259
00:20:15,024 --> 00:20:16,685
Can you be performance in Bitcoin terms?

260
00:20:16,784 --> 00:20:21,104
And the message I want to give to our existing shareholders and future shareholders is we

261
00:20:21,104 --> 00:20:24,145
want our shareholders to get wealthier in Bitcoin terms.

262
00:20:24,264 --> 00:20:28,284
And so instead of measuring earnings per shares in dollars, we want to measure in Bitcoin.

263
00:20:28,505 --> 00:20:33,185
Can we grow the Bitcoin per share that you're exposed to as a shareholder of the business?

264
00:20:33,264 --> 00:20:34,384
That's why we created the metric.

265
00:20:35,304 --> 00:20:40,505
So in other words, this BPS, this Bitcoin per share, you're going to hear these types

266
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of metrics be used more and more to measure the success of these companies. I don't know if

267
00:20:44,084 --> 00:20:49,564
all of the wonks will adopt these measurements, but these will be the ones that these companies

268
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are putting forward. I think they'll probably come to some consensus across the board and then,

269
00:20:54,284 --> 00:20:58,584
push those metrics pretty hard. What's the end game for you? Is it just to buy as much Bitcoin

270
00:20:58,584 --> 00:21:04,364
as you can and hold it for as long as possible and never sell it? That's one of the goals, yes.

271
00:21:04,505 --> 00:21:09,005
But I think what makes us different than a lot of these other businesses is we plan to build

272
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Bitcoin products as well.

273
00:21:10,905 --> 00:21:12,824
I mean, the founding group is Tether and myself.

274
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I founded in Lead Strike as one of the bigger Bitcoin financial services firms in the world.

275
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Tether, obviously, is one of the most impressive companies in the history of humanity, but

276
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specifically in building massive cash flows within the space.

277
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So Paulo and I, before we were CEOs, we were engineers.

278
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We built a lot of products.

279
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And so we plan to not only acquire as much Bitcoin as possible, raising capital in all

280
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sorts of deep capital pools, but also build products, build technology, build tools.

281
00:21:36,745 --> 00:21:39,205
I think when people eventually think of 21,

282
00:21:39,205 --> 00:21:41,124
it's are they a competitor to Coinbase?

283
00:21:41,124 --> 00:21:43,044
Are they competitor to Strategy?

284
00:21:43,044 --> 00:21:43,965
For us, why not both?

285
00:21:43,965 --> 00:21:45,745
We think we have that potential.

286
00:21:45,745 --> 00:21:49,005
Do you envision a future where Bitcoin treasury companies

287
00:21:49,005 --> 00:21:52,844
such as Strategy, Mara, and you guys

288
00:21:52,844 --> 00:21:54,804
end up buying so much Bitcoin

289
00:21:54,804 --> 00:21:58,104
that there really isn't actually much left out there

290
00:21:58,104 --> 00:22:00,145
on the open market for people to trade?

291
00:22:00,145 --> 00:22:03,264
After all, it is a fixed number of Bitcoin,

292
00:22:03,264 --> 00:22:06,725
so no more will be created once it reaches that number.

293
00:22:06,745 --> 00:22:10,925
It's not an accident that he's asking this question just after Jack says they're going to build Bitcoin products.

294
00:22:11,344 --> 00:22:23,205
So Jack's going to answer, and I think he's going to answer it from the perspective of millionaires and billionaires and strategic treasury companies that are buying Bitcoin with massive amounts of other people's money.

295
00:22:23,564 --> 00:22:25,564
He's not thinking about it from the pleb standpoint.

296
00:22:26,005 --> 00:22:29,965
From the pleb standpoint, I think their hope is they're going to sell products to us.

297
00:22:30,685 --> 00:22:31,764
I don't know what those could be.

298
00:22:31,764 --> 00:22:37,024
What we'll discover, I suspect, over the next decade is Bitcoin gets plugged into various things.

299
00:22:37,104 --> 00:22:39,745
We're seeing it plugged into real estate and other things.

300
00:22:39,745 --> 00:22:47,405
And then these companies will be the backers that provide that Bitcoin to the banks and to these other financial products.

301
00:22:47,804 --> 00:22:50,284
And so as people, we'll get exposure to you.

302
00:22:50,384 --> 00:22:54,304
Go to your bank and you get a loan and there might be a Bitcoin kicker on it.

303
00:22:54,425 --> 00:22:55,925
Maybe you're not even involved with that part.

304
00:22:56,005 --> 00:22:57,384
That's just part of how they make their money.

305
00:22:57,384 --> 00:23:02,685
and the Bitcoin kicker is getting financed by Mahler's 21 or strategy.

306
00:23:03,284 --> 00:23:05,445
So that's who Jack's thinking about.

307
00:23:05,824 --> 00:23:10,044
But his question, I think, is actually the interviewer's question is more about the plebs.

308
00:23:10,945 --> 00:23:15,544
And, you know, there's probably going to be, it's going to be, well, we're going to be stacking sats.

309
00:23:15,544 --> 00:23:17,645
You're not going to be stacking whole coins if these guys get their way.

310
00:23:17,705 --> 00:23:18,405
It's probably what it is.

311
00:23:18,725 --> 00:23:22,685
Right. You know, what's fascinating about the asset, and it's not intuitive because it's so rare,

312
00:23:22,804 --> 00:23:25,705
is that to your point, it is definitively scarce.

313
00:23:25,705 --> 00:23:30,465
So if everyone in the world wanted an iPhone, Apple could make more.

314
00:23:30,465 --> 00:23:34,384
If everyone in the world wanted a McDonald's cheeseburger, McDonald's could make more.

315
00:23:34,645 --> 00:23:39,764
The fact that Bitcoin cannot increase its supply means the new supply comes from the market.

316
00:23:39,925 --> 00:23:43,005
If you want more Bitcoin, you don't go to the Bitcoin factory to get one.

317
00:23:43,264 --> 00:23:44,685
You have to go up in price.

318
00:23:45,245 --> 00:23:47,205
Is there enough Bitcoin for me at $120,000?

319
00:23:47,324 --> 00:23:47,524
No.

320
00:23:47,764 --> 00:23:49,485
Okay, $130,000, $140,000, $150,000.

321
00:23:49,864 --> 00:23:52,104
So I'll tell you what, there's always Bitcoin available.

322
00:23:52,505 --> 00:23:54,264
It just depends on what you're willing to pay for it.

323
00:23:54,264 --> 00:24:00,925
And so what I think will happen is this price will continue to discover higher because Bitcoin is the scarcest thing.

324
00:24:01,024 --> 00:24:03,764
It's inelastic to the amount of demand that searches for it.

325
00:24:03,824 --> 00:24:13,344
So the amount of buying power that we're seeing from the capital markets, from the ETFs, and potentially from nation states like the United States, I think they'll find the supply they're looking for.

326
00:24:13,485 --> 00:24:15,745
They're just going to have to go get it at a higher price.

327
00:24:16,304 --> 00:24:21,405
Would you expand to other digital coins, for instance, become a treasury company for Ether or Solano or something else?

328
00:24:21,925 --> 00:24:22,505
They don't get it.

329
00:24:22,505 --> 00:24:38,284
You know, they don't listen either. They don't listen to his answer. That was a brilliant, concise, articulate answer of the way Bitcoin price dynamics work in the market, delivered in a way that just about any audience can understand.

330
00:24:38,824 --> 00:24:50,205
And it's a fascinating aspect of Bitcoin, the way the scarcity impacts that price discovery. You could definitely double down on that. She's not listening at all. She doesn't get the value proposition at all.

331
00:24:50,205 --> 00:24:59,145
And so this question, you know, not a great question when you're asking Jack, who's definitely a Bitcoiner, if he's going to start stacking Sol or ETH.

332
00:24:59,245 --> 00:25:01,205
They'll find the supply they're looking for.

333
00:25:01,384 --> 00:25:03,624
They're just going to have to go get it at a higher price.

334
00:25:04,104 --> 00:25:09,264
Would you expand to other digital coins, for instance, become a treasury company for Ether or Solano or something else?

335
00:25:09,725 --> 00:25:10,584
Absolutely not.

336
00:25:10,764 --> 00:25:11,844
And I'll tell you guys why.

337
00:25:11,945 --> 00:25:12,804
I made you laugh.

338
00:25:12,864 --> 00:25:14,384
Yeah, because you guys are all maxis.

339
00:25:14,445 --> 00:25:18,324
Like you talk to somebody who has an Ether treasury company and they'd say the same thing about Bitcoin.

340
00:25:18,324 --> 00:25:19,124
That is true.

341
00:25:19,505 --> 00:25:20,485
It's really obnoxious.

342
00:25:20,624 --> 00:25:28,824
It's more obnoxious when the ETH Maxis and the Sol Maxis get on TV because there's no sound money argument for either one of those.

343
00:25:29,505 --> 00:25:40,044
So it's just sort of obnoxious when they get on there and play these Maxi tropes, when they would just swap to whatever the best technology is that makes them the most revenue when it comes along.

344
00:25:40,124 --> 00:25:41,925
Yeah, so you can't mix the two ever?

345
00:25:41,925 --> 00:25:43,324
Well, a little history lesson.

346
00:25:43,665 --> 00:25:46,205
The term Maxi was actually invented by Vitalik Buterin.

347
00:25:46,344 --> 00:25:47,044
It was a diss.

348
00:25:47,104 --> 00:25:47,784
It was slander.

349
00:25:47,784 --> 00:25:52,245
You know, I now take it as a compliment, but to be clear, I don't self-prescribe that.

350
00:25:53,205 --> 00:25:55,304
Little background on my opinion, okay?

351
00:25:56,024 --> 00:25:59,544
Us humans own a little over $900 trillion worth of stuff.

352
00:26:00,284 --> 00:26:06,124
Currencies, sovereign debt, real estate, precious metals, fine art, all of the things that we collectively own as a species.

353
00:26:06,564 --> 00:26:12,604
About half of that, so call it $400 to $500 trillion worth of it, we're using to save money, right?

354
00:26:12,604 --> 00:26:17,804
You own the $10 million art painting not to put on your wall so your toddler can throw spaghetti at it and ruin it.

355
00:26:18,084 --> 00:26:20,824
You own it because you want to sell it for $11 million in the future.

356
00:26:21,205 --> 00:26:26,344
You own the real estate not to consume it because you're living in it, but because you're trying to save and build a real estate portfolio.

357
00:26:26,505 --> 00:26:33,685
So the amount of wealth humans have created that they want to bring with them tomorrow and save into the future is about $400 to $500 trillion.

358
00:26:34,005 --> 00:26:35,824
To me, that's what Bitcoin's going after.

359
00:26:36,064 --> 00:26:37,544
It's that pristine store of value.

360
00:26:37,665 --> 00:26:39,284
It's that pure money, right?

361
00:26:39,645 --> 00:26:40,505
What is Ethereum?

362
00:26:40,725 --> 00:26:41,604
What is Dogecoin?

363
00:26:41,604 --> 00:26:42,425
What is Solana?

364
00:26:42,604 --> 00:26:55,844
To me, I don't know, at best, a technology? Are these things going after Apple, Amazon? If they are, let's go out and give Ethereum credit that I don't think it deserves and say it's going to achieve what Amazon has achieved.

365
00:26:55,844 --> 00:26:59,544
Okay, $2 trillion, $3 trillion worth of value to society.

366
00:26:59,945 --> 00:27:02,084
Reasonable, nice, a new cool tech stock.

367
00:27:02,264 --> 00:27:04,124
And that's if they go on to achieve that.

368
00:27:04,425 --> 00:27:08,064
If Bitcoin goes on to achieve a small fraction of the $400 to $500 trillion

369
00:27:08,064 --> 00:27:10,564
that humans are looking to bring with them tomorrow,

370
00:27:10,705 --> 00:27:13,064
we're talking about tens of trillions of dollars of appreciation.

371
00:27:13,245 --> 00:27:16,764
So it's in orders of magnitude, larger problem Bitcoin's going after.

372
00:27:17,005 --> 00:27:20,405
It's in orders of magnitude, sound or bedrock to build a treasury.

373
00:27:20,544 --> 00:27:23,524
I do not want to build a treasury on potentially the next Amazon.

374
00:27:23,524 --> 00:27:30,005
I want to build a treasury on the new gold, on the new sovereign debt, on the new currency, on the new dollar.

375
00:27:30,185 --> 00:27:35,864
So that for me, our shareholders should know I will never own another asset outside Bitcoin.

376
00:27:36,364 --> 00:27:44,344
That is again, chef's kiss, a masterful explanation of the difference between Bitcoin and the other place.

377
00:27:44,784 --> 00:27:46,165
Just play that back.

378
00:27:46,725 --> 00:27:47,485
It's so good.

379
00:27:48,084 --> 00:27:49,584
Play it back, memorize it.

380
00:27:49,584 --> 00:27:54,124
And you can use that to explain the difference to other people in 30 seconds when they ask you.

381
00:27:54,384 --> 00:27:57,044
Bitcoin Purist or Maxi, as Tim just reminded us.

382
00:27:57,445 --> 00:28:01,485
Jack, you call yourself the first ever Bitcoin native company that expects to be publicly listed.

383
00:28:02,044 --> 00:28:04,465
Any thoughts on what stock exchange?

384
00:28:04,604 --> 00:28:05,584
Would it be NYSC?

385
00:28:05,705 --> 00:28:06,405
Would it be NASDAQ?

386
00:28:06,485 --> 00:28:11,245
Could it even be, let's say, the Texas Stock Exchange, which will begin listings at the end of 2026?

387
00:28:12,465 --> 00:28:12,584
Boring.

388
00:28:13,284 --> 00:28:18,124
Convince them that there is a use case beyond just buying and holding, that this is a useful technology.

389
00:28:18,764 --> 00:28:19,705
Well, I think...

390
00:28:19,705 --> 00:28:21,524
Now, this is where we're going to end.

391
00:28:21,584 --> 00:28:22,225
I like this answer.

392
00:28:22,284 --> 00:28:24,064
I'll back up a little bit so you can hear the question better.

393
00:28:24,485 --> 00:28:25,705
This and say, wait a second.

394
00:28:26,064 --> 00:28:30,505
Is the point of Bitcoin just for the people who have it now to get wealthier and wealthier?

395
00:28:30,505 --> 00:28:40,344
The largest holders of Marathon, of you guys, and of strategy, convince them that there is a use case beyond just buying and holding, that this is a useful technology.

396
00:28:40,344 --> 00:28:48,584
Well, I think the use case for Bitcoin from the highest level possible is I've created value and I want to keep it.

397
00:28:48,584 --> 00:28:51,804
That's it. I got a chuckle out of you. That's true.

398
00:28:51,804 --> 00:28:59,905
I got up out of bed. I sacrificed. I worked. I commuted. I did tasks. I created products. I created value for those around me.

399
00:28:59,905 --> 00:29:01,905
I want to keep that value.

400
00:29:01,905 --> 00:29:06,145
But even though it's called a cryptocurrency, it's not used widespread as a currency.

401
00:29:06,145 --> 00:29:09,645
It's used as something that will accumulate or that people think will accumulate in value.

402
00:29:09,645 --> 00:29:15,665
Yes, I think the definitions of currency and money and how we think of medium of exchange store of value, I think it gets too complicated.

403
00:29:15,884 --> 00:29:19,705
And sometimes Bitcoin is so simple that people don't believe it can be that simple.

404
00:29:19,985 --> 00:29:24,824
The reality is money is what you acquire in exchange for your effort, your time, your energy.

405
00:29:24,945 --> 00:29:26,584
It's our time and energy in an abstracted form.

406
00:29:26,945 --> 00:29:31,425
And I exchange my work hours for it so that I can later get the stuff I need in my life.

407
00:29:31,485 --> 00:29:32,745
I want to go to Whole Foods and get a steak.

408
00:29:32,824 --> 00:29:33,584
I want to go on vacation.

409
00:29:33,685 --> 00:29:34,405
I need to pay rent.

410
00:29:34,665 --> 00:29:37,884
That's what money's for, is to allow me to create value and take it with me tomorrow.

411
00:29:38,485 --> 00:29:39,425
And that's the use case.

412
00:29:39,425 --> 00:29:43,864
And today it's increasingly difficult to achieve that. I can't save it in dollars. We all know that.

413
00:29:44,284 --> 00:29:47,465
OK, you're going to force me to understand Japanese central bank monetary policy.

414
00:29:47,564 --> 00:29:49,764
You're going to force me to understand what tech stocks to pick.

415
00:29:50,084 --> 00:29:53,544
No, how about something that's definitively scarce? No one can inflate.

416
00:29:53,665 --> 00:29:59,344
I can store for free. I can move cheaply. And that I can put it in my brain.

417
00:29:59,465 --> 00:30:04,844
And that's the use case. And we all have that use case. Nation, state, corporations, families, individuals.

418
00:30:05,465 --> 00:30:11,784
Simply put, I think everyone can find value in a technology that is open source and solve that for everybody.

419
00:30:21,725 --> 00:30:23,824
We'll come back to the topic of money.

420
00:30:24,745 --> 00:30:28,965
But I want to just tap the brakes a little bit on all the hype.

421
00:30:29,064 --> 00:30:31,505
Because you look at the numbers, you listen to Jack.

422
00:30:31,505 --> 00:30:35,864
It's pretty easy to get excited about, oh, the price is going to rip.

423
00:30:35,905 --> 00:30:36,905
It's going to go crazy.

424
00:30:37,284 --> 00:30:40,264
But Bitcoin lives in a wider system.

425
00:30:41,425 --> 00:30:47,784
And there is, historically at least, has been, a massive price headwind approaching Bitcoin.

426
00:30:48,445 --> 00:30:55,745
And you're welcome, the rest of the world, because this is going to impact you even though it's just simply a result of the fiscal mess of the United States.

427
00:30:56,425 --> 00:30:57,344
Now, we'll see.

428
00:30:57,425 --> 00:30:59,685
Maybe some of this corporate buying pressure can help.

429
00:30:59,685 --> 00:31:14,209
It definitely helped with that 80 Bitcoin sale But very soon the US Treasury expects to borrow trillion just in Q3 I just do want to get some news though first out of the Treasury Department Megan Kinsella

430
00:31:14,209 --> 00:31:15,749
has those details. Hi, Megan.

431
00:31:16,729 --> 00:31:20,129
Hey, Mike. So Treasury's latest borrowing estimates are out, and it's a big number

432
00:31:20,129 --> 00:31:24,529
this time. Treasury expecting to borrow just over a trillion dollars in the July through

433
00:31:24,529 --> 00:31:28,669
September quarter. That's $453 billion more than what they announced.

434
00:31:28,669 --> 00:31:31,969
$453 billion more than they projected.

435
00:31:32,229 --> 00:31:33,049
Back in April.

436
00:31:33,209 --> 00:31:35,589
Now, Wall Street had been expecting borrowing to increase,

437
00:31:35,929 --> 00:31:38,669
but this is a bigger jump than estimates that I had seen.

438
00:31:39,029 --> 00:31:41,869
But Treasury officials do say this is almost entirely due

439
00:31:41,869 --> 00:31:44,269
to the now-resolved fight over the debt limits.

440
00:31:44,429 --> 00:31:46,809
So what happens is when the debt limits go on,

441
00:31:47,369 --> 00:31:50,749
the Treasury General account, like their checking account, gets drained.

442
00:31:50,929 --> 00:31:52,029
It's called the TGA.

443
00:31:52,629 --> 00:31:55,729
In the past, before 2008's financial crisis,

444
00:31:55,729 --> 00:32:00,729
this money was distributed in banks around the country, and it actually kind of acted as a buffer

445
00:32:00,729 --> 00:32:09,289
for the economy. But it became centralized after the 2008 crisis and then gets run down during these

446
00:32:09,289 --> 00:32:14,189
debt debates. Then it needs to be refilled so the federal government can write checks and pay bills.

447
00:32:14,189 --> 00:32:20,989
To do that, they issue new debt, which drains cash availability from the private sector who

448
00:32:20,989 --> 00:32:26,349
to buy this up. It's like a reverse quantitative easing event that historically leads to market

449
00:32:26,349 --> 00:32:30,949
declines for Bitcoin's at least short-term price. So this is going to be another test

450
00:32:30,949 --> 00:32:35,649
to watch how the market eats this up. If it'll shrug it off like it did that big sale,

451
00:32:36,069 --> 00:32:42,929
or if the lack of Fed rate cuts, the focus on stablecoin chains, the plebs being tapped out,

452
00:32:43,309 --> 00:32:49,709
combined with a treasury liquidity drain to fill that TGA, it could finally catch up to Bitcoin,

453
00:32:49,709 --> 00:32:51,169
at least for the short term.

454
00:32:52,989 --> 00:32:54,149
So what do you think?

455
00:32:54,389 --> 00:32:55,689
Put your bet on the line.

456
00:32:56,269 --> 00:32:57,349
Are we in a new era

457
00:32:57,349 --> 00:33:00,529
where demand is just going to constantly push Bitcoin

458
00:33:00,529 --> 00:33:01,669
even through these events

459
00:33:01,669 --> 00:33:02,769
and at least hold it steady?

460
00:33:03,629 --> 00:33:06,029
Or do you think we'll finally see

461
00:33:06,029 --> 00:33:07,109
all of these things catch up

462
00:33:07,109 --> 00:33:08,329
and we're going to see a walk back

463
00:33:08,329 --> 00:33:09,909
to the lower 100s?

464
00:33:10,269 --> 00:33:11,469
Boost in with your prediction.

465
00:33:11,689 --> 00:33:12,369
Put it on the record,

466
00:33:12,429 --> 00:33:13,389
even a price point,

467
00:33:13,509 --> 00:33:14,649
if you would,

468
00:33:14,749 --> 00:33:17,089
because I'm curious to know

469
00:33:17,089 --> 00:33:18,369
how far you think this could go

470
00:33:18,369 --> 00:33:19,849
with all of these different dynamics.

471
00:33:20,349 --> 00:33:22,689
And while we don't know, never can know,

472
00:33:22,769 --> 00:33:25,169
it's fun to try to get you on the record in a boost.

473
00:33:25,609 --> 00:33:26,869
I feel like there's something we could do

474
00:33:26,869 --> 00:33:28,349
like a contest of some kind in the future.

475
00:33:28,489 --> 00:33:30,009
So boost in and let me know.

476
00:33:32,449 --> 00:33:36,169
And then also a brief PSA for the show,

477
00:33:36,309 --> 00:33:38,029
a little bit of housekeeping here.

478
00:33:38,109 --> 00:33:39,369
A couple of weeks ago,

479
00:33:39,489 --> 00:33:41,069
I announced that I was launching

480
00:33:41,069 --> 00:33:42,789
a monthly Fountain subscriber program.

481
00:33:42,929 --> 00:33:44,689
This is a new thing that Fountain is trying out.

482
00:33:44,769 --> 00:33:46,489
It's a way to sort of auto support the show

483
00:33:46,489 --> 00:33:47,929
with either Sats or Fiat,

484
00:33:47,929 --> 00:33:49,169
which is a neat option.

485
00:33:49,909 --> 00:33:52,909
And I can issue bonus content to those subscribers

486
00:33:52,909 --> 00:33:54,289
as a thank you.

487
00:33:54,569 --> 00:33:57,609
So last week, I released my first bonus episode.

488
00:33:57,949 --> 00:33:59,229
A little bit of a test of the system,

489
00:33:59,289 --> 00:34:00,009
to be honest with you.

490
00:34:00,089 --> 00:34:02,609
And we did hit a bug.

491
00:34:02,989 --> 00:34:03,849
We'll talk about that.

492
00:34:04,409 --> 00:34:05,669
But I'll just say thank you, everybody,

493
00:34:05,909 --> 00:34:07,709
who gave me all the nice comments

494
00:34:07,709 --> 00:34:08,669
about the bonus episode.

495
00:34:08,669 --> 00:34:11,169
It was well-received, much better than I expected.

496
00:34:11,609 --> 00:34:12,929
So thank you, thank you, thank you.

497
00:34:13,469 --> 00:34:14,729
And we got a couple of, I picked up,

498
00:34:14,729 --> 00:34:17,849
I think, almost 15 new subscribers.

499
00:34:17,929 --> 00:34:20,149
I do really, really appreciate that.

500
00:34:20,249 --> 00:34:22,429
And I'm going to continue to explore that avenue.

501
00:34:23,129 --> 00:34:24,149
Now, about that snake.

502
00:34:24,569 --> 00:34:32,869
If this hit you, hopefully, if you contact Oscar Mary, you can get, or somebody at Fountain Support, you can get a refund if it didn't go through.

503
00:34:32,969 --> 00:34:36,529
But it looks like what they discovered is there was a bit of a race condition.

504
00:34:36,689 --> 00:34:44,009
If you had the preview trailer playing, which you likely did, and then tried to buy that bonus episode, you'd hit this race condition.

505
00:34:44,129 --> 00:34:45,969
You could dismiss that mini player.

506
00:34:45,969 --> 00:34:49,509
You know, like when it's just like minimized down there, you could swipe it away and then do the purchase and it would work fine.

507
00:34:49,949 --> 00:34:53,729
Now they've fixed this up and I believe it's pending in the app stores right now.

508
00:34:53,829 --> 00:34:55,689
So hopefully very soon that's just taken care of.

509
00:34:55,989 --> 00:35:02,389
But in the like zoom out 50 level foot, 50,000 foot view thing here, whatever you want to call it, whatever cliche, you know.

510
00:35:03,229 --> 00:35:05,149
I am really excited about testing this system.

511
00:35:05,289 --> 00:35:06,269
It's an open system.

512
00:35:06,669 --> 00:35:14,989
So unlike Patreon or some of the white label member full type bud systems out there, this is something that any podcast app could implement.

513
00:35:14,989 --> 00:35:17,369
It's using RSS and alternative enclosures.

514
00:35:17,569 --> 00:35:21,269
It's using Noster for identity, and it supports SATs or Fiat.

515
00:35:21,989 --> 00:35:26,069
And Fountain is currently working on web support, so you're not required to use the Fountain app.

516
00:35:26,389 --> 00:35:27,489
I think you are at the moment.

517
00:35:27,989 --> 00:35:29,849
I think you should try it again because it's gotten really good.

518
00:35:30,309 --> 00:35:36,269
And so it's something that could possibly be available to any podcaster that wants to take advantage of this

519
00:35:36,269 --> 00:35:38,729
and any podcast app that's willing to write support for all of this.

520
00:35:39,249 --> 00:35:43,449
And it's a really neat combination of the Lightning Network and using Noster for identity

521
00:35:43,449 --> 00:35:46,009
and then getting access to content on demand.

522
00:35:46,749 --> 00:35:48,729
It's, I mean, I could geek out

523
00:35:48,729 --> 00:35:50,969
about the technology behind it all for a while.

524
00:35:51,029 --> 00:35:52,409
And so I'm really excited to try this.

525
00:35:52,689 --> 00:35:54,489
If you'd like to try the bonus episode,

526
00:35:54,589 --> 00:35:55,809
I'll have a link to it in the show notes.

527
00:35:55,929 --> 00:35:58,289
I think you will need Fountain for right now

528
00:35:58,289 --> 00:36:00,909
for the moment to try it out,

529
00:36:00,949 --> 00:36:01,849
but I think you should give it a go.

530
00:36:02,149 --> 00:36:04,329
And then I'd love your feedback on that type of format.

531
00:36:04,329 --> 00:36:06,849
And thank you everybody who did give it a go.

532
00:36:07,049 --> 00:36:07,749
It's been pretty exciting.

533
00:36:13,449 --> 00:36:18,289
All right, well, coming up, I got your boosts, some updates you definitely want to catch,

534
00:36:18,449 --> 00:36:21,129
final clip of the week that's going to get into money a bit more.

535
00:36:21,449 --> 00:36:24,689
So I'll just mention there's some ways to support the show just by doing what you do.

536
00:36:25,129 --> 00:36:28,989
If you want to buy your sats on River, I think it's one of the best ways to stack in the United States.

537
00:36:29,089 --> 00:36:30,189
Use our link in the show notes.

538
00:36:30,809 --> 00:36:33,729
If you're all about that self-custody and you're in Canada or the U.S.,

539
00:36:33,729 --> 00:36:37,449
the Bitcoin well gets so many good reviews from our audience.

540
00:36:38,009 --> 00:36:40,129
Self-custody first, directly to and from your wallet.

541
00:36:40,829 --> 00:36:42,829
You're ready to spend those sats and you have them on lightning.

542
00:36:43,429 --> 00:36:45,349
The Bitcoin company, they're Bitcoin only.

543
00:36:45,629 --> 00:36:48,549
Hundreds of gift cards go from lightning to gift card in just seconds.

544
00:36:49,369 --> 00:36:54,189
The Fold card has to be one of the sleeper hits in the Bitcoin community.

545
00:36:54,529 --> 00:36:58,089
Beloved in our audience, I use it every day to pay bills and other day expenses.

546
00:36:58,229 --> 00:36:59,549
Stack sats while you're doing that stuff.

547
00:37:00,029 --> 00:37:01,449
The Fold card will have a link in the show notes.

548
00:37:01,529 --> 00:37:02,929
You can support the show that way.

549
00:37:03,469 --> 00:37:06,069
And then if you need to get access to your Bitcoin value without selling it,

550
00:37:06,649 --> 00:37:07,849
Salt Lending has been great.

551
00:37:07,849 --> 00:37:13,069
check out salt lending link to all of that in the show notes thank you everybody who supports

552
00:37:13,069 --> 00:37:17,529
the show by doing what you do or by sending a boost or becoming a subscriber

553
00:37:17,529 --> 00:37:37,829
and we do have some folks coming in with some boost to support the show

554
00:37:37,849 --> 00:37:42,809
And SatSquatch is back, and he's our baller with 75,000 sats.

555
00:37:42,869 --> 00:37:44,329
Hey, Rich Lobster!

556
00:37:50,929 --> 00:37:53,149
Shout out to the secret Thousand Oaks meetup.

557
00:37:53,269 --> 00:37:56,029
Stay humble, stack, and self-custody your sats.

558
00:37:56,469 --> 00:37:59,569
Thank you for your service, Chris, and putting out this exceptional resource for all of us.

559
00:37:59,969 --> 00:38:03,109
A segment on legacy and estate planning to pass on sats,

560
00:38:03,209 --> 00:38:06,609
along with the Bitcoin ethos of self-sovereignty responsibility for future generations,

561
00:38:06,609 --> 00:38:08,369
would be highly appreciated.

562
00:38:08,929 --> 00:38:09,249
All right.

563
00:38:10,069 --> 00:38:11,769
I am saving that right now.

564
00:38:11,909 --> 00:38:12,189
Boom.

565
00:38:12,329 --> 00:38:12,989
I'm grabbing that.

566
00:38:13,189 --> 00:38:14,909
I apologize, but I don't want to forget that.

567
00:38:15,209 --> 00:38:17,189
That does sound like a really great segment suggestion.

568
00:38:17,969 --> 00:38:18,209
All right.

569
00:38:18,269 --> 00:38:18,969
I have noted that.

570
00:38:19,069 --> 00:38:19,769
Thank you, Satsquatch,

571
00:38:19,809 --> 00:38:21,809
and shout out to the Secret Thousand Oaks Meetup.

572
00:38:21,849 --> 00:38:23,409
Hope you all are doing well out there

573
00:38:23,409 --> 00:38:25,349
and staying hydrated, as they say.

574
00:38:25,809 --> 00:38:26,709
Appreciate that boost.

575
00:38:26,709 --> 00:38:28,669
And thank you for being our baller.

576
00:38:32,809 --> 00:38:33,609
Here he is.

577
00:38:33,609 --> 00:38:39,009
Adversaries 17 comes in with 32,768 sats.

578
00:38:43,149 --> 00:38:46,209
Oh, and it looks like it's a couple of boosts here.

579
00:38:46,329 --> 00:38:47,469
Using the podcast index.

580
00:38:47,909 --> 00:38:51,769
So he's also then using his self-hosted AlbiHub.

581
00:38:51,989 --> 00:38:52,509
He's a good guy.

582
00:38:52,749 --> 00:38:53,729
He's a real good guy.

583
00:38:53,889 --> 00:38:54,549
No, he's a great guy.

584
00:38:54,829 --> 00:38:55,489
Adversaries writes,

585
00:38:55,589 --> 00:38:58,509
when you mentioned not wanting a battery for your old cold storage,

586
00:38:59,069 --> 00:39:00,929
have you considered how you'd get to your Bitcoin

587
00:39:00,929 --> 00:39:02,909
after an EMP hits the US?

588
00:39:03,329 --> 00:39:07,869
What's your backup plan to be able to get to your Bitcoin out of that wallet should you need it?

589
00:39:08,429 --> 00:39:13,109
For the hams, it's pretty common to suggest putting at least a single radio in a Faraday cage of some sort.

590
00:39:13,629 --> 00:39:16,909
Maybe the same practice of putting a cold wallet device also applies.

591
00:39:17,449 --> 00:39:24,189
Though if an EMP does hit the US, I think basic survival will matter more than trying to salvage Bitcoin from cold stash.

592
00:39:24,429 --> 00:39:25,349
So maybe it doesn't even matter.

593
00:39:26,089 --> 00:39:27,749
Oh, it's order of operations adversaries.

594
00:39:27,749 --> 00:39:39,849
You see, after the EMP hits, or more likely here in the Pacific Northwest, the devastating earthquake, God forbid, knock on wood, you're going to have to get your food, your waters, and your survivals.

595
00:39:40,429 --> 00:39:45,989
But then pretty quickly, you know, if society continues at all in any form, you're going to need a medium of exchange.

596
00:39:46,189 --> 00:39:52,529
And we have seen so many different takes at Mesh Networks, MeshTastic being a very popular one, BitChat gaining popularity.

597
00:39:52,529 --> 00:40:00,609
I don't think anything younger than the boomers is going to go back to like using cash, like especially if the government were to fall.

598
00:40:01,049 --> 00:40:03,489
Who wants that crap? Use it as fire starter.

599
00:40:04,049 --> 00:40:05,769
I'm sure precious metals would be useful.

600
00:40:05,929 --> 00:40:12,869
I also think cannabis, probably beer, booze would also be useful, at least initially after some sort of collapse.

601
00:40:13,049 --> 00:40:17,389
But then, you know, it progresses and pretty soon you're going to want that infrastructure back.

602
00:40:17,909 --> 00:40:20,429
He says regarding political views versus financial news.

603
00:40:20,429 --> 00:40:21,749
This is a debate we've been having on the show.

604
00:40:21,749 --> 00:40:32,589
Since we're primarily using this asset called the United States dollar, which is inherently managed by the government and largely controlled by policy of politicians, I think maybe all financial news is political.

605
00:40:33,129 --> 00:40:34,229
There's just no way around it.

606
00:40:34,349 --> 00:40:38,149
If you're doing news on macroeconomics, you're going to be touching the political realm.

607
00:40:38,709 --> 00:40:41,889
They're inseparable, in my opinion.

608
00:40:42,289 --> 00:40:46,449
If only there was an asset that wasn't controlled by the government.

609
00:40:46,829 --> 00:40:47,189
Hmm.

610
00:40:47,589 --> 00:40:47,929
Hmm.

611
00:40:48,649 --> 00:40:49,269
Good point.

612
00:40:49,269 --> 00:40:55,629
But yeah, I think, too, there is a way to try to talk about it without getting the emotions wrapped up into it, at least.

613
00:40:55,689 --> 00:41:00,009
Like if we're going to go near politics, let's stick to the data and the facts if we can.

614
00:41:00,589 --> 00:41:02,649
And it probably creeps in from time to time just because everybody's human.

615
00:41:03,009 --> 00:41:04,209
But appreciate that insight.

616
00:41:04,769 --> 00:41:05,529
Thank you, adversaries.

617
00:41:06,209 --> 00:41:06,929
Nice to hear from you.

618
00:41:07,709 --> 00:41:10,049
J-Cube is here with 25,000 sats.

619
00:41:10,129 --> 00:41:12,209
Oh, my God, this drawer is filled with fruit loaves.

620
00:41:12,269 --> 00:41:14,469
Boy, they are doing a lot with mayo these days.

621
00:41:14,709 --> 00:41:15,469
Great episode.

622
00:41:15,469 --> 00:41:19,529
Trump isn't the ally to Bitcoin that he said he would be, but still better than the alternative.

623
00:41:19,789 --> 00:41:21,009
Keep up the coverage that you do.

624
00:41:21,289 --> 00:41:22,389
Feels relevant and interesting.

625
00:41:23,209 --> 00:41:23,509
Fair.

626
00:41:24,189 --> 00:41:24,489
Fair.

627
00:41:25,149 --> 00:41:28,749
It's a night and day difference between administrations and their approach to the crypto industry.

628
00:41:28,929 --> 00:41:32,669
And I think, you know, with Trump, it's with the bad, you get the good.

629
00:41:32,889 --> 00:41:34,969
With the good, you get the validation of the space.

630
00:41:35,149 --> 00:41:38,329
You get the validation of Bitcoin as a financial asset.

631
00:41:38,529 --> 00:41:41,469
You get the government talking about it very positively, changing their stance from something

632
00:41:41,469 --> 00:41:44,329
they're trying to dump as soon as they can to something they want to strategically hold.

633
00:41:44,329 --> 00:41:48,609
even if they don't do it you're still signaling to investors that's still something there versus

634
00:41:48,609 --> 00:41:54,349
trying to squash this this industry as fast as possible wow that's a good point i suppose all

635
00:41:54,349 --> 00:41:58,949
things are you know in perspective it's it's easy to lose sight of that once you're six seven months

636
00:41:58,949 --> 00:42:03,089
in and you don't have your damn bitcoin reserve right i've actually maintained for a while too i

637
00:42:03,089 --> 00:42:07,949
think if a bitcoin reserve did come it would come towards the end of the year thank you jq appreciate

638
00:42:07,949 --> 00:42:14,489
that support chew toys here with 20 000 sets well let's hear it good buddy i've been stacking since

639
00:42:14,489 --> 00:42:18,329
the bitcoin dad pod was around i did some math and i have come to the unfortunate realization

640
00:42:18,329 --> 00:42:22,589
that i will never own a whole bitcoin it does make me feel better that i already have more than

641
00:42:22,589 --> 00:42:27,289
most people in the world but i still wish i had more oh well thanks for making the highest value

642
00:42:27,289 --> 00:42:34,609
pod in the realm well thanks chew toy i first of all i would i would remind you we do sometimes

643
00:42:34,609 --> 00:42:35,929
have incredible bear markets.

644
00:42:38,229 --> 00:42:39,589
Like there is some logic

645
00:42:39,589 --> 00:42:42,129
to having a little bit of cash,

646
00:42:42,209 --> 00:42:43,869
say like in River in the 3.8%

647
00:42:43,869 --> 00:42:44,929
sats interest account

648
00:42:44,929 --> 00:42:46,129
and then doing a smash buy

649
00:42:46,129 --> 00:42:47,189
if the market starts looking

650
00:42:47,189 --> 00:42:48,449
a little sideways.

651
00:42:48,749 --> 00:42:51,109
So don't completely count that out.

652
00:42:51,449 --> 00:42:52,089
That said,

653
00:42:52,729 --> 00:42:54,709
I think one of the things that we have

654
00:42:54,709 --> 00:42:55,829
that we'll be grateful for

655
00:42:55,829 --> 00:42:56,949
that we should try to take advantage of

656
00:42:56,949 --> 00:42:58,829
is all the ways to passively stack sats.

657
00:42:59,649 --> 00:43:01,389
You know, you can passively stack sats

658
00:43:01,389 --> 00:43:02,469
using the fold card.

659
00:43:02,909 --> 00:43:04,269
You can passively stack sats

660
00:43:04,269 --> 00:43:07,569
if you're comfortable with it with like the Gemini 4% backcard.

661
00:43:07,909 --> 00:43:11,009
You can passively stack sats by using Fountain to listen to podcasts.

662
00:43:11,289 --> 00:43:12,769
You'll hear from time to time people that boost in

663
00:43:12,769 --> 00:43:14,469
just using the sats they earned on Fountain.

664
00:43:15,389 --> 00:43:19,029
I suspect in 10 to 15 years,

665
00:43:19,489 --> 00:43:23,989
we'll look back as these are equivalent to the Bitcoin well.

666
00:43:24,669 --> 00:43:25,949
The fact that you used to be able to go to a website

667
00:43:25,949 --> 00:43:28,309
and get five Bitcoin or even one Bitcoin for a time

668
00:43:28,309 --> 00:43:31,109
just by visiting a freaking website.

669
00:43:31,749 --> 00:43:32,789
I cannot tell you.

670
00:43:32,789 --> 00:43:39,669
like why didn't why didn't why didn't everybody do that it was crazy right well that's what i think

671
00:43:39,669 --> 00:43:46,589
we're going to look at these bitcoin rewards in 15 years you mean i i just i could get sats

672
00:43:46,589 --> 00:43:50,449
i have the gemini credit card i've had a different version of it for a long time

673
00:43:50,449 --> 00:43:54,609
just because from time to time there's life purchases that come up and it's like why not

674
00:43:54,609 --> 00:44:00,149
get some sats for like when i take the family on a road trip up to 300 is like three or four percent

675
00:44:00,149 --> 00:44:05,469
sats back in gas. Well, I got to buy the gas anyways. So why not get three to 4% sats back?

676
00:44:06,129 --> 00:44:12,309
Well, you know, I've been using the card for three, four years. So I have like $800 worth of sats

677
00:44:12,309 --> 00:44:16,469
that I've stacked just getting in rewards because, and they've also accumulated in value.

678
00:44:16,969 --> 00:44:23,269
That's just $800 in Bitcoin that's continuing to increase in value that I just passively stacked.

679
00:44:23,909 --> 00:44:28,509
And I don't think you have to get to one Bitcoin. I think it's about using it as savings technology

680
00:44:28,509 --> 00:44:31,129
to save your time and energy today for the future.

681
00:44:32,069 --> 00:44:34,689
And so it's about putting what you can today

682
00:44:34,689 --> 00:44:36,229
and taking out more in the future,

683
00:44:36,569 --> 00:44:37,709
archiving that for the future.

684
00:44:38,489 --> 00:44:40,329
I think it's probably going to be harder

685
00:44:40,329 --> 00:44:42,609
for the entire world to get to one Bitcoin.

686
00:44:42,729 --> 00:44:44,129
There's just so little Bitcoin.

687
00:44:44,669 --> 00:44:46,409
And if every billionaire in the world

688
00:44:46,409 --> 00:44:47,409
or every millionaire in the world

689
00:44:47,409 --> 00:44:48,389
decided they wanted a Bitcoin,

690
00:44:48,509 --> 00:44:49,309
there's just not enough.

691
00:44:49,709 --> 00:44:50,669
So don't feel bad.

692
00:44:50,709 --> 00:44:51,549
You're not the only one.

693
00:44:52,109 --> 00:44:54,109
But it's not about getting to one Bitcoin, right?

694
00:44:54,169 --> 00:44:56,349
It's about saving for the future,

695
00:44:57,069 --> 00:44:57,929
whatever you can.

696
00:44:57,929 --> 00:45:02,189
$20, $30, whatever it is that you don't want to base or taken from you.

697
00:45:02,949 --> 00:45:04,989
And that's what it's a tool for right now.

698
00:45:05,389 --> 00:45:06,909
And of course, peer-to-peer transactions,

699
00:45:07,429 --> 00:45:10,989
things like the Lightning Network that allows to do this cool thing like Boost,

700
00:45:11,709 --> 00:45:15,029
learning and taking advantage as more of those develop.

701
00:45:15,889 --> 00:45:17,469
And that Bitcoin will continue to grow in value.

702
00:45:17,529 --> 00:45:21,049
And even if you only get to half a coin or 0.3 of a coin or whatever it is,

703
00:45:21,049 --> 00:45:22,949
it's going to continue to grow in value.

704
00:45:23,569 --> 00:45:27,369
And you still will be in such a rare group of people.

705
00:45:27,929 --> 00:45:32,209
such a small percentage of people in the world will even have the stash that you have.

706
00:45:32,709 --> 00:45:35,489
So I don't think you should feel bad about it at all. I think you should be very proud

707
00:45:35,489 --> 00:45:40,709
because you're saving for the future in something that's growing in value. And you're doing it,

708
00:45:40,769 --> 00:45:45,969
if you've been doing it since the Bitcoin dad pod, then you frant ran everybody. You frant ran

709
00:45:45,969 --> 00:45:52,149
BlackRock. You frant ran all of these Bitcoin treasury strategy companies. You frant ran Donald

710
00:45:52,149 --> 00:45:58,609
Trump. You frant ran the president of the United States. It's not too bad, Shoe Toy. Thank you for

711
00:45:58,609 --> 00:46:06,569
the boost. Appreciate it. And thanks for listening for so long. Mr. Pibb with two Bs. Well, I'll be

712
00:46:06,569 --> 00:46:12,929
dipped. Comes in with 3,222 sats, says thanks for the show and thank you for the bonus episode.

713
00:46:13,369 --> 00:46:19,349
Thank you for the value. Thank you, Mr. Pibb. Valcalo is here with a row of ducks. That's 2,222

714
00:46:19,349 --> 00:46:25,649
sats so it's an answer to my nostril question they say the reason i stick with nostril is the

715
00:46:25,649 --> 00:46:33,409
same reason i stick with all open protocols no permission no coercion yes to voluntary cooperation

716
00:46:33,409 --> 00:46:48,794
exit opt opt reorganize voluntarily you know it true vc when i see people on x complaining oh i wish I could just have social media without an algorithm Yeah go over to Noster And if you want an algorithm people are going to build them You could opt into them if you want

717
00:46:49,334 --> 00:46:53,814
maybe have your own. And Noster is so awesome as an identity service. I've been thinking about,

718
00:46:54,234 --> 00:46:58,553
and this is a question to you guys, I want to set up an NPUB for this week in Bitcoin for the

719
00:46:58,553 --> 00:47:03,694
podcast, but I don't know how to manage multiple NPUBs because I use Albi extension. I don't really

720
00:47:03,694 --> 00:47:08,494
want to be swapping accounts in my Albie extension. And I don't know how to manage two

721
00:47:08,494 --> 00:47:12,814
endpubs effectively. I kind of would like some sort of web-based app where I can have multiple

722
00:47:12,814 --> 00:47:16,154
endpubs in there and I can switch between them. Because then maybe I could have other ones for

723
00:47:16,154 --> 00:47:19,654
the other shows too. But I'd like to start with This Week in Bitcoin. And then there would be an

724
00:47:19,654 --> 00:47:25,033
endpub you could follow for show news or when we're going live or for messages to respond to

725
00:47:25,033 --> 00:47:29,073
the show episodes, things like that. So I'm thinking about it. And I'd love your feedback

726
00:47:29,073 --> 00:47:32,354
on how to do multiple endpubs. Thank you, VC. Great to hear from you.

727
00:47:32,914 --> 00:47:34,954
Moon Knight's here with 2,100 sats.

728
00:47:35,954 --> 00:47:39,053
The coolest part about last week's solar mining report boost

729
00:47:39,053 --> 00:47:42,254
is that he got money for his excess electricity,

730
00:47:42,454 --> 00:47:45,694
whereas the electric company would have otherwise given him credit.

731
00:47:46,414 --> 00:47:47,494
Yeah, he got a hard asset.

732
00:47:47,874 --> 00:47:50,273
He converted the sun into a hard asset.

733
00:47:50,773 --> 00:47:53,254
Can we just appreciate that for a second, Moon?

734
00:47:53,254 --> 00:48:00,013
Can we just, you know, he took in the sun and he produced sats.

735
00:48:00,013 --> 00:48:02,553
It's incredible, actually.

736
00:48:02,974 --> 00:48:04,593
He also says, I purchased the bonus episode,

737
00:48:04,694 --> 00:48:06,273
but I don't see any way to listen to it in Fountain.

738
00:48:06,394 --> 00:48:07,154
The UI bugged out.

739
00:48:07,513 --> 00:48:07,874
Oh.

740
00:48:09,073 --> 00:48:10,654
Okay, if you hit up at Oscar Mary,

741
00:48:11,374 --> 00:48:13,314
Moon and I, he will help you out with the refund there,

742
00:48:13,354 --> 00:48:14,394
and it should be working now.

743
00:48:14,754 --> 00:48:16,714
I want to know, too, were you using the single purchase?

744
00:48:16,794 --> 00:48:19,053
Were you buying it, or are you trying to subscribe?

745
00:48:19,934 --> 00:48:21,053
I think you were trying to subscribe,

746
00:48:21,234 --> 00:48:22,214
but I'd like to know.

747
00:48:22,854 --> 00:48:23,994
Yeah, yeah, that was a bug.

748
00:48:24,013 --> 00:48:24,794
You hit the race condition.

749
00:48:24,874 --> 00:48:25,354
I apologize.

750
00:48:25,513 --> 00:48:26,754
That's why I was kind of testing it out.

751
00:48:26,754 --> 00:48:27,914
It's a very new system.

752
00:48:28,294 --> 00:48:29,573
It has a lot of potential.

753
00:48:30,013 --> 00:48:33,053
And so far, that was like the thing that we had up against.

754
00:48:33,754 --> 00:48:34,714
Thank you, though, for trying.

755
00:48:35,113 --> 00:48:36,294
And hopefully you can try again.

756
00:48:36,934 --> 00:48:37,773
Get a refund and try again.

757
00:48:38,573 --> 00:48:39,013
Appreciate it.

758
00:48:39,294 --> 00:48:40,794
Domas comes in with 2,000 sats.

759
00:48:41,053 --> 00:48:42,954
No S, but it sounds like it has an S.

760
00:48:43,494 --> 00:48:44,394
A bonus twib?

761
00:48:44,494 --> 00:48:45,654
Shut the front door.

762
00:48:47,334 --> 00:48:48,394
Yeah, you got it.

763
00:48:48,654 --> 00:48:49,253
You got it.

764
00:48:49,753 --> 00:48:50,053
Thank you.

765
00:48:50,174 --> 00:48:52,253
BobbyPing came in with 10,000 sats.

766
00:48:52,374 --> 00:48:54,093
It's over 9,000!

767
00:48:54,753 --> 00:48:57,414
I did get my Noster account before Fountain Integrated Noster.

768
00:48:57,414 --> 00:49:01,613
Then when Fountain integrated Nostre, I couldn't figure out how to get back into my Nostre to link it.

769
00:49:02,194 --> 00:49:04,734
Maybe if I had access to my Nostre, I would then get more into that world.

770
00:49:04,894 --> 00:49:08,753
But for now, I don't see the use of it other than having different username when I boost.

771
00:49:09,573 --> 00:49:09,894
Okay.

772
00:49:10,294 --> 00:49:14,593
Actually, if you think about it, if you could have, and I was able, I did the same thing, and I was able to tie my Nostre identity.

773
00:49:15,434 --> 00:49:16,593
You have one identity now.

774
00:49:16,753 --> 00:49:18,654
You can have one identity across multiple apps.

775
00:49:18,874 --> 00:49:20,934
So you don't have to have separate accounts for all these apps.

776
00:49:21,053 --> 00:49:21,874
It's really cool.

777
00:49:22,194 --> 00:49:24,214
He says, just after I told you I don't use Noster,

778
00:49:24,474 --> 00:49:27,734
you go and release a bonus episode that requires me to sign in with Noster.

779
00:49:28,133 --> 00:49:30,694
Turns out, though, Noster was Matrix.

780
00:49:30,874 --> 00:49:32,533
So, well, if I'm already getting Noster,

781
00:49:32,753 --> 00:49:34,533
I might as well also get my own AlbiHub, too.

782
00:49:34,633 --> 00:49:36,214
Oh, he's in the Matrix now.

783
00:49:37,354 --> 00:49:37,714
Yes.

784
00:49:38,954 --> 00:49:39,794
Oh, awesome.

785
00:49:39,994 --> 00:49:41,613
All because you released a bonus episode.

786
00:49:41,974 --> 00:49:42,694
Your words are powerful.

787
00:49:42,814 --> 00:49:43,234
Keep it up.

788
00:49:43,613 --> 00:49:44,593
Use them for the good.

789
00:49:47,053 --> 00:49:47,794
Oh, man.

790
00:49:48,073 --> 00:49:49,734
Well, I'm super glad you're setting up an AlbiHub.

791
00:49:51,874 --> 00:49:55,014
Yeah, okay, and then here we go.

792
00:49:55,253 --> 00:49:56,773
Here's Mary Oscar right here.

793
00:49:56,834 --> 00:49:57,394
He's a good guy.

794
00:49:57,633 --> 00:49:58,613
He's a real good guy.

795
00:49:58,753 --> 00:49:59,414
No, he's a great guy.

796
00:49:59,773 --> 00:50:01,753
He says, we did discover a small race condition

797
00:50:01,753 --> 00:50:03,014
with the bonus episode purchasing

798
00:50:03,014 --> 00:50:04,434
that could occasionally happen

799
00:50:04,434 --> 00:50:05,894
if the bonus preview audio was playing.

800
00:50:06,314 --> 00:50:07,494
For anyone who experiences this,

801
00:50:07,573 --> 00:50:08,573
dismissing the small player

802
00:50:08,573 --> 00:50:10,014
and then playing the episode again

803
00:50:10,014 --> 00:50:10,954
should resolve the issue.

804
00:50:11,454 --> 00:50:12,334
A fix has been added

805
00:50:12,334 --> 00:50:13,414
and the new app version awaiting

806
00:50:13,414 --> 00:50:14,374
an Apple Google review,

807
00:50:14,834 --> 00:50:16,214
hopefully live in the next 24 hours.

808
00:50:16,714 --> 00:50:18,093
If you experienced an issue,

809
00:50:18,093 --> 00:50:20,914
please email me, Oscar, O-S-C-A-R,

810
00:50:20,914 --> 00:50:23,354
at fountain.fm and I'll refund your purchase.

811
00:50:23,714 --> 00:50:24,974
Aw, well there you go.

812
00:50:25,073 --> 00:50:25,794
Thank you, Oscar.

813
00:50:26,234 --> 00:50:26,773
He's a good guy.

814
00:50:27,033 --> 00:50:28,014
He's a real good guy.

815
00:50:28,174 --> 00:50:28,834
No, he's a great guy.

816
00:50:29,354 --> 00:50:30,113
Appreciate that.

817
00:50:30,354 --> 00:50:31,374
Everything's under control.

818
00:50:31,974 --> 00:50:35,394
BCP boosted him with 4,004 sets.

819
00:50:35,974 --> 00:50:36,174
Hmm.

820
00:50:36,814 --> 00:50:37,954
I feel like that's a message.

821
00:50:38,593 --> 00:50:39,894
I don't know.

822
00:50:40,154 --> 00:50:41,894
Why you gotta put numbers and letters together?

823
00:50:42,194 --> 00:50:43,514
Why can't you just go f*** yourself?

824
00:50:43,834 --> 00:50:44,434
I'm just kidding.

825
00:50:44,474 --> 00:50:44,854
I love it.

826
00:50:45,194 --> 00:50:46,633
He says, I love the bonus episode.

827
00:50:46,633 --> 00:50:48,154
I've come from Monte Santo,

828
00:50:48,154 --> 00:50:51,113
where these documentaries were used to terrify people

829
00:50:51,113 --> 00:50:52,553
about how their food is being grown.

830
00:50:53,174 --> 00:50:56,374
Just mentioning Montessanto is enough to prove my point.

831
00:50:56,814 --> 00:50:59,934
This type of narrative creation is extremely potent.

832
00:51:00,613 --> 00:51:02,874
I have much to say about this, but I'll leave it at this.

833
00:51:03,234 --> 00:51:05,714
There is always a funder of these documentaries,

834
00:51:06,214 --> 00:51:09,434
some group that stands to win if their target loses.

835
00:51:10,273 --> 00:51:11,994
Yeah, I was trying to figure out who would be.

836
00:51:12,154 --> 00:51:13,194
So in the bonus episode,

837
00:51:13,194 --> 00:51:15,033
I did a pretty comprehensive breakdown

838
00:51:15,033 --> 00:51:18,154
of More Perfect Union's total attack on Bitcoin mining.

839
00:51:18,753 --> 00:51:21,694
And there is a real sad problem that they're also addressing.

840
00:51:21,854 --> 00:51:22,794
So it's a tricky one.

841
00:51:23,474 --> 00:51:24,633
But I was trying to figure out what their angle was

842
00:51:24,633 --> 00:51:26,014
because they could have also done an episode

843
00:51:26,014 --> 00:51:29,093
about how Bitcoin mining is saving towns

844
00:51:29,093 --> 00:51:31,874
after plants closed because, you know, big fat cats.

845
00:51:32,334 --> 00:51:34,533
Or it could have done a piece about how Bitcoin

846
00:51:34,533 --> 00:51:36,734
is saving the middle class from historic debasement.

847
00:51:36,954 --> 00:51:38,773
But instead, they decided to attack mining.

848
00:51:39,374 --> 00:51:39,633
Why?

849
00:51:40,553 --> 00:51:42,753
So that's one of the things we break down in that bonus episode.

850
00:51:43,194 --> 00:51:44,314
He says, as a funny side note,

851
00:51:44,314 --> 00:51:51,714
But when Monsanto wanted to hire me in 2014, HR put a red flag on me because I had written articles in favor of Bitcoin.

852
00:51:52,073 --> 00:51:53,633
The currency of criminals, they called it.

853
00:51:54,294 --> 00:51:56,113
Isn't there some irony in that VCP?

854
00:51:57,053 --> 00:52:04,994
Monsanto, the people that have some of the worst reputations in the world, red flagging other people because they were writing about something that gets an unfair bad reputation.

855
00:52:05,553 --> 00:52:06,694
Oh, it's delicious.

856
00:52:07,374 --> 00:52:08,093
It's delicious.

857
00:52:09,214 --> 00:52:12,414
Eric PP sent in 3,333 sats.

858
00:52:12,414 --> 00:52:15,033
No message, just the support.

859
00:52:15,214 --> 00:52:17,014
But he used Boost CLI.

860
00:52:17,533 --> 00:52:18,194
That's awesome.

861
00:52:18,294 --> 00:52:19,113
Nice job, Eric PP.

862
00:52:19,273 --> 00:52:19,773
Thank you.

863
00:52:20,613 --> 00:52:23,414
Atone came in with 4,444 sats.

864
00:52:23,474 --> 00:52:24,734
The traders love the vol.

865
00:52:25,294 --> 00:52:30,794
I don't understand what Jack is on about with the debasing the dollar against Bitcoin and not against housing and the egg.

866
00:52:31,633 --> 00:52:33,273
Surely, you don't get to choose.

867
00:52:33,834 --> 00:52:36,914
Stablecoin liquidity into Bitcoin doesn't get locked into a box.

868
00:52:37,354 --> 00:52:40,814
The person you just thought you bought Bitcoin from now has dollars.

869
00:52:40,814 --> 00:52:46,674
which to bid up housing and eggs debasement is debasement what am i missing i guess jack was

870
00:52:46,674 --> 00:52:51,294
thinking they wouldn't sell it for dollars they would go buy bitcoin i'm following your logic

871
00:52:51,294 --> 00:52:54,633
atone and i like it you're right it's still going to lead to debasement i agree by the way

872
00:52:54,633 --> 00:53:03,214
i agree i think it is an interesting theory that bitcoin becomes a sink for stable coin liquidity

873
00:53:03,214 --> 00:53:09,374
in other words a lot of these operations that are that are buying treasuries as they're backing for

874
00:53:09,374 --> 00:53:13,654
their stablecoin are also buying Bitcoin. So you're going to have more Bitcoin purchasing.

875
00:53:14,994 --> 00:53:17,974
It'll soak up some of that. But yeah, I think you're right. I think you're right.

876
00:53:18,753 --> 00:53:22,514
You still get dollars or somebody still, there's still a buyer and a seller on each end of that

877
00:53:22,514 --> 00:53:26,253
trade. And the seller ends up with a profit. The seller is probably going to buy stuff.

878
00:53:26,654 --> 00:53:31,073
That's going to drive a price. Now that has to happen at a massive scale. And so it could be

879
00:53:31,073 --> 00:53:37,613
just the process of, you know, from the money spigot all the way down to that individual trader

880
00:53:37,613 --> 00:53:40,174
that makes a trade and a profit,

881
00:53:40,894 --> 00:53:44,073
it could be that that takes a very long time

882
00:53:44,073 --> 00:53:46,014
to stoke inflation in the broader market, right?

883
00:53:46,033 --> 00:53:47,314
Because what's he likely going to go do?

884
00:53:47,394 --> 00:53:48,854
He's going to, like you say, he's going to buy a house.

885
00:53:49,514 --> 00:53:51,194
He will buy eggs, but he's not going to buy more eggs

886
00:53:51,194 --> 00:53:51,914
than he normally would have.

887
00:53:51,954 --> 00:53:52,954
He can only eat so many eggs.

888
00:53:53,334 --> 00:53:54,414
But he will buy boats.

889
00:53:55,033 --> 00:53:55,954
He'll buy cars.

890
00:53:56,374 --> 00:53:57,113
She, right?

891
00:53:57,773 --> 00:53:59,414
She'll get into these other investment products.

892
00:54:00,474 --> 00:54:01,934
So you'll see the inflation,

893
00:54:02,633 --> 00:54:05,014
like I think we did when the interest rates

894
00:54:05,014 --> 00:54:06,374
were at 0% or near it.

895
00:54:06,374 --> 00:54:08,154
that's where I think you'll see the inflation.

896
00:54:08,394 --> 00:54:13,194
And then a politician goes and issues things like stimulus checks

897
00:54:13,194 --> 00:54:14,974
and the supply chain chokes,

898
00:54:15,234 --> 00:54:18,033
and then you've got massive purchasing at the high end and the low end

899
00:54:18,033 --> 00:54:19,494
and the medium all at the same time.

900
00:54:20,714 --> 00:54:21,894
That's sort of the worst-case scenario.

901
00:54:22,514 --> 00:54:23,154
Thank you for the boost.

902
00:54:23,654 --> 00:54:24,334
Great observation.

903
00:54:24,514 --> 00:54:25,394
Appreciate you sharing it with me.

904
00:54:26,053 --> 00:54:28,773
Gene Bean came in with 4,444 sats.

905
00:54:29,773 --> 00:54:32,014
That's a big old duck, I'd say.

906
00:54:32,014 --> 00:54:33,734
Quack-a-wack-a, it's a treasure.

907
00:54:34,014 --> 00:54:34,573
Yippee!

908
00:54:34,573 --> 00:54:51,514
He was responding to the bonus episodes. I can see why this video got under your skin. The in-depth breakdown was good. I'm looking forward to additional bonus content. Also, have you checked out the Dolphin card? It sounds really nice. Bitcoin, Liquid Network, Fiat. I am curious to watch how this Dolphin card goes.

909
00:54:51,514 --> 00:55:03,934
So Aqua Wallet, made by the Jan3 company, is an interesting wallet to begin with because it has on-chain Bitcoin, Liquid support, Tether support, and it swaps between Lightning and Liquid sort of automatically.

910
00:55:04,494 --> 00:55:07,314
And the latest update, they brought in the Dolphin card.

911
00:55:07,434 --> 00:55:10,133
It's a virtual Visa card that allows you to spend Bitcoin.

912
00:55:11,113 --> 00:55:14,753
So you, I guess, in fact, I believe you could store it in Liquid.

913
00:55:14,753 --> 00:55:20,874
I haven't tried this, but you could have Bitcoin in Liquid or on-chain, and then they will do a sale or a conversion.

914
00:55:21,514 --> 00:55:23,654
to tether I don't know what for the transaction.

915
00:55:24,753 --> 00:55:25,654
Now, that's pretty neat, right?

916
00:55:25,773 --> 00:55:27,374
Now, my only concern is,

917
00:55:27,914 --> 00:55:29,674
because the idea is you have Bitcoin sitting in there,

918
00:55:29,714 --> 00:55:30,874
you can spend it on fiat rails.

919
00:55:31,553 --> 00:55:32,753
That could be really neat,

920
00:55:33,093 --> 00:55:36,194
say in a situation where you need to go get your car repair.

921
00:55:36,733 --> 00:55:39,394
Like my wife's power steering rack needs to be replaced.

922
00:55:39,834 --> 00:55:44,374
And I looked it up and it's like an $1,800 part plus time.

923
00:55:44,633 --> 00:55:47,514
It's going to be over, easily over $2,000

924
00:55:47,514 --> 00:55:48,714
to repair this damn thing.

925
00:55:49,113 --> 00:55:50,154
And they're known to fail.

926
00:55:50,874 --> 00:55:56,753
Anyways, it'd be nice to have a scenario where like, all right, say you were willing to sell off a little of your Bitcoin for that.

927
00:55:56,834 --> 00:55:58,133
I don't think you should for that kind of thing.

928
00:55:58,474 --> 00:56:00,854
But let's say in this example you were willing to sell off a little bit of your Bitcoin.

929
00:56:01,454 --> 00:56:10,214
It'd be nice to just put that on the Aqua Wallet, walk in with a Visa card, swipe the card at the auto repair shop, and just do the transaction.

930
00:56:10,573 --> 00:56:11,273
And now you're done.

931
00:56:11,994 --> 00:56:14,834
I don't know if that's going to – I mean, I know that's how it's supposed to work.

932
00:56:15,834 --> 00:56:18,874
I've just had bad experience with these virtual Visa cards.

933
00:56:18,874 --> 00:56:21,194
They seem to only certain locations accept them.

934
00:56:21,294 --> 00:56:23,093
They have a lot more security scrutiny around them.

935
00:56:23,194 --> 00:56:25,553
So I'm going to wait and see what some of the reports are, Gene.

936
00:56:26,174 --> 00:56:29,374
I'll tell you, man, I like this kind of stuff.

937
00:56:29,914 --> 00:56:33,834
I would almost prefer something that is doing a collateral loan on the fly.

938
00:56:33,974 --> 00:56:35,954
Like I said, minimums and maximums.

939
00:56:36,174 --> 00:56:42,073
And then, you know, when I swipe that card, it's actually using like a Bitcoin-backed loan or something instead of selling them.

940
00:56:42,093 --> 00:56:46,174
You know, because it's a taxable event in theory when you're doing a transaction like that.

941
00:56:46,174 --> 00:56:53,073
I haven't actually looked into how the mechanics work, but I would assume it's a capital gains when you use that debit card, Visa card thing.

942
00:56:53,773 --> 00:56:56,974
I'd love to just maybe then instead do some sort of loan-based thing.

943
00:56:57,733 --> 00:57:02,633
Or, you know, not have things so damn expensive that people are talking about selling their Bitcoin to fix their car.

944
00:57:02,773 --> 00:57:03,454
You know what I mean, Gene?

945
00:57:04,174 --> 00:57:05,133
Thank you for the boost.

946
00:57:05,494 --> 00:57:06,034
Appreciate it.

947
00:57:06,753 --> 00:57:10,633
Hello there comes in with 4,444 sats.

948
00:57:10,834 --> 00:57:12,593
This old duck still got it.

949
00:57:12,714 --> 00:57:13,253
I'm fine.

950
00:57:13,253 --> 00:57:24,273
No message, just some value. Thank you very much. Appreciate that. HGW39 is here with 4,567 sats. Hmm.

951
00:57:24,874 --> 00:57:26,374
There's coffee in that nebula.

952
00:57:27,593 --> 00:57:37,514
So responding to the bonus episode, he says, thanks for covering this. I saw it on YouTube, and then I'm glad you covered it. I'd love to see more bonus episodes. My biggest question, how the hell do you cover all this as well as Linux Unplugged?

953
00:57:37,514 --> 00:57:45,894
by never stopping and working on both shows every single day from morning to late at the night

954
00:57:45,894 --> 00:57:51,654
living and breathing it i think the only way is because i do this full-time barely

955
00:57:51,654 --> 00:57:57,354
and i don't know if i could do both shows if i wasn't full-time podcasting it's a lot of work i

956
00:57:57,354 --> 00:58:02,233
also do the launch and i probably should be doing another show just because that's the way if you

957
00:58:02,233 --> 00:58:05,093
the shows that are sponsored by companies,

958
00:58:05,253 --> 00:58:08,414
you have to have two or three sponsors in a show

959
00:58:08,414 --> 00:58:10,113
to kind of break even or make money.

960
00:58:10,273 --> 00:58:13,874
Well, I can't load Linux unplugged up

961
00:58:13,874 --> 00:58:15,214
with six ads or something like that.

962
00:58:15,394 --> 00:58:17,773
So it's an interesting market.

963
00:58:17,934 --> 00:58:18,354
It's challenging.

964
00:58:18,474 --> 00:58:20,073
It's why I really try to focus on value for value

965
00:58:20,073 --> 00:58:20,834
for this week in Bitcoin.

966
00:58:21,434 --> 00:58:23,034
It just lets me just focus on the show

967
00:58:23,034 --> 00:58:25,854
and not do like 60% management overhead

968
00:58:25,854 --> 00:58:26,834
that comes with advertising.

969
00:58:27,093 --> 00:58:29,633
But from a time-wise, it's a significant challenge.

970
00:58:29,633 --> 00:58:32,214
It helps that I'm intensely passionate about Linux.

971
00:58:32,233 --> 00:58:41,474
open source and bitcoin so i would be maniacally following all of this even if i didn't do podcasts

972
00:58:41,474 --> 00:58:46,974
and for me doing the podcast is my therapy session talking about this stuff getting it out there

973
00:58:46,974 --> 00:58:51,773
it it's like it otherwise it just bottles up inside me and then i have to like you know talk

974
00:58:51,773 --> 00:58:55,714
to the wife about it all the time and she'll she'll be interested for a bit but she can't listen

975
00:58:55,714 --> 00:59:01,194
for hours thank you hdw i appreciate that boost didn't expect to ramble on like that but there's

976
00:59:01,194 --> 00:59:09,093
answer. Hey, Ace is back with a row of ducks. As Ackerman writes, I tried Noster. It didn't stick

977
00:59:09,093 --> 00:59:15,854
for me. I'm not an enjoyer of social media in general. I agree, Ace. I agree. And what really

978
00:59:15,854 --> 00:59:26,374
has made it stick long term for me is it feels like a platform that I own, right? I use chrislas.com.

979
00:59:26,374 --> 00:59:31,194
I verified my identity using my DNS, using my infrastructure.

980
00:59:32,273 --> 00:59:35,514
And right now, when you go to chrislas.com, it takes you to a primal page, but it could

981
00:59:35,514 --> 00:59:36,154
take you to anywhere.

982
00:59:36,253 --> 00:59:38,253
It could take you to my own self-hosted Nostra page.

983
00:59:38,553 --> 00:59:42,834
So I like that it's like my online presence.

984
00:59:42,914 --> 00:59:44,273
I don't even want to use the word social media.

985
00:59:44,613 --> 00:59:47,154
It's my online identity and presence.

986
00:59:47,834 --> 00:59:50,334
And one of the outputs of that is a social media feed.

987
00:59:50,374 --> 00:59:52,414
But the other output of that is my Fountain FM account.

988
00:59:52,414 --> 00:59:55,474
and there's a couple of other like Nostra adjacent apps

989
00:59:55,474 --> 00:59:58,334
that I connect to just using my Nostra identity.

990
00:59:58,714 --> 01:00:02,174
So the idea of a public private key backed identity

991
01:00:02,174 --> 01:00:04,874
that you can use between applications,

992
01:00:05,073 --> 01:00:06,854
one of them is a social media application.

993
01:00:07,314 --> 01:00:09,954
That's a powerful idea and that's why I've stuck with Nostra.

994
01:00:10,273 --> 01:00:13,053
But if I were just using it as an X or Twitter

995
01:00:13,053 --> 01:00:15,593
slash MasterDawn replacement,

996
01:00:15,874 --> 01:00:18,253
I would still use it occasionally and I do,

997
01:00:18,694 --> 01:00:20,113
but I would not use it as much.

998
01:00:20,113 --> 01:00:24,654
just because like you, I'm not really, as you say, an enjoyer of those things.

999
01:00:25,093 --> 01:00:25,573
Thank you, Ace.

1000
01:00:26,093 --> 01:00:27,654
Nice to hear from you.

1001
01:00:28,253 --> 01:00:29,233
Hey, look who it is.

1002
01:00:29,253 --> 01:00:31,154
It's Mr. Hybrid Sarcasm.

1003
01:00:31,394 --> 01:00:32,334
Danger zone.

1004
01:00:32,514 --> 01:00:34,253
Coming in with 6,000 stats.

1005
01:00:34,394 --> 01:00:34,934
Danger zone.

1006
01:00:35,654 --> 01:00:39,753
Some streaming stats didn't make it last week because of a Megalith LSP outage for Albie.

1007
01:00:39,874 --> 01:00:40,753
Oh, I heard about that.

1008
01:00:41,253 --> 01:00:42,854
So here's some extra stats to make up for it.

1009
01:00:43,253 --> 01:00:44,034
Oh, thank you, sir.

1010
01:00:44,434 --> 01:00:45,273
Appreciate that.

1011
01:00:45,654 --> 01:00:47,154
B-O-O-S-T.

1012
01:00:47,273 --> 01:00:49,053
Oh, and more bonus content, please.

1013
01:00:49,053 --> 01:00:53,154
Last week's bonus episode gave me little hints of unfiltered Chris.

1014
01:00:53,794 --> 01:00:54,573
We love that, Chris.

1015
01:00:56,374 --> 01:00:57,834
Hybrid, that's a deep ref.

1016
01:00:58,233 --> 01:00:59,073
Good, good.

1017
01:00:59,753 --> 01:01:00,854
Appreciate the boost.

1018
01:01:01,273 --> 01:01:02,093
Nice to hear from you.

1019
01:01:02,773 --> 01:01:05,773
White Eagle's back with 3,433 sats.

1020
01:01:05,934 --> 01:01:07,294
Live long and prosper.

1021
01:01:07,834 --> 01:01:13,414
Number one, you should clarify that Vanguard is not making the decision to purchase MicroStrategy stock MSTR.

1022
01:01:14,073 --> 01:01:18,753
It's that it's, they're doing it, the ME, the, that is ME.

1023
01:01:19,053 --> 01:01:22,874
I don't know what you mean by ME because I don't really understand these terms very well, I guess.

1024
01:01:23,454 --> 01:01:25,854
That is ME, the Vanguard member, doing that.

1025
01:01:26,174 --> 01:01:30,814
Oh, I get what you're – well, actually, it's because it's part of some index funds that they're required to buy too, right?

1026
01:01:31,354 --> 01:01:32,113
That's the other reason.

1027
01:01:32,194 --> 01:01:35,633
So they're kind of compelled to buy the MSTR stock is essentially what you're saying.

1028
01:01:35,994 --> 01:01:36,354
I know.

1029
01:01:36,633 --> 01:01:37,474
I think I said that.

1030
01:01:38,194 --> 01:01:40,514
It's still hilarious, though, that they're one of the largest shareholders.

1031
01:01:40,674 --> 01:01:41,113
I mean, come on.

1032
01:01:41,674 --> 01:01:43,454
That is still hilarious.

1033
01:01:44,073 --> 01:01:47,553
Wayne Eagle says he also votes to keep the macro and related news.

1034
01:01:47,854 --> 01:01:53,053
And he wants to know, when is the podfather going to guest host LUP?

1035
01:01:54,174 --> 01:01:54,934
Guest host.

1036
01:01:55,133 --> 01:01:56,474
That is a lot of work.

1037
01:01:56,553 --> 01:02:01,073
How about he just would pop by and talk about some Linux setups that he's currently using,

1038
01:02:01,694 --> 01:02:03,414
and then he could take off.

1039
01:02:03,974 --> 01:02:05,093
It's 10 minutes then.

1040
01:02:06,253 --> 01:02:07,034
Hosting a whole show?

1041
01:02:07,214 --> 01:02:08,733
That's like a four-hour commitment.

1042
01:02:09,273 --> 01:02:10,133
He does not need that.

1043
01:02:10,194 --> 01:02:12,034
He's already got plenty of other podcasts to record.

1044
01:02:12,034 --> 01:02:14,133
That's crazy why

1045
01:02:14,178 --> 01:02:19,858
Eagle. You got to do it. Get him in, get him out. 10, 15 minutes max. Man's got things to do.

1046
01:02:20,138 --> 01:02:23,158
But otherwise, I like where your head's at. And thank you, Wine Eagle. Appreciate the support.

1047
01:02:23,578 --> 01:02:28,418
It's nice to hear from you. I think it's been a bit. Overall, I think we're just slightly down

1048
01:02:28,418 --> 01:02:35,378
4% or so, which isn't too bad, but the Fountain FM stats show about 4% less supporting this month

1049
01:02:35,378 --> 01:02:39,318
than last month. But that doesn't mean I don't appreciate everybody who does support,

1050
01:02:39,798 --> 01:02:43,018
especially everybody who tried out the bonus episode. Thank you for doing that or became a

1051
01:02:43,018 --> 01:02:49,038
subscriber. We had 43 of you stream sats as you listen to the podcast. So collectively,

1052
01:02:49,198 --> 01:02:55,878
you sat streamers stacked 54,253 sats. Not too bad. Thank you, everybody. When you combine that

1053
01:02:55,878 --> 01:02:58,978
with the total boosters, even though not as many people are participating,

1054
01:02:58,978 --> 01:03:06,218
I'm pretty happy with the result we got this week. The show stacked 272,076 sats.

1055
01:03:06,218 --> 01:03:17,278
these days fountain.fm probably makes it the easiest to boost because they offer a completely

1056
01:03:17,278 --> 01:03:22,498
hosted lightning infrastructure and are making the fiat integration easier but you hear a lot

1057
01:03:22,498 --> 01:03:26,318
of people are trying to albi hub and different apps check out all the apps at podcast apps.com

1058
01:03:26,318 --> 01:03:30,238
then support this show with a boost it is a value for value production if you got some value from

1059
01:03:30,238 --> 01:03:35,738
the show send it back and thank you everybody who did we appreciate you and shout out to those

1060
01:03:35,738 --> 01:03:52,858
subscribers out there. There's something that you need to avoid, and it's been catching even some

1061
01:03:52,858 --> 01:04:01,618
more seasoned Bitcoiners by surprise. So stay a while and listen. There is a fake Sparrow app in

1062
01:04:01,618 --> 01:04:06,438
the Apple App Store. And maybe Apple will pull this soon. As of right now, they haven't. There

1063
01:04:06,438 --> 01:04:14,578
is no mobile app for the real Sparrow wallet. Not on iOS, not on Android. And on July 25th,

1064
01:04:14,578 --> 01:04:20,198
Bitcoin for Jimmy reported that his entire life savings was stolen from him. 7.4 Bitcoin.

1065
01:04:21,018 --> 01:04:26,778
He just had a one-week-old child, too. They just had a kid. They're in pretty bad straits right now.

1066
01:04:26,778 --> 01:04:32,958
And to lose 7.4 million Bitcoin to a scam Sparrow wallet in the app store is absolutely devastating.

1067
01:04:33,778 --> 01:04:35,698
You really have to be careful.

1068
01:04:35,818 --> 01:04:36,698
I don't need to lecture you.

1069
01:04:36,778 --> 01:04:37,938
I know you all are smart out there.

1070
01:04:38,758 --> 01:04:42,058
Like, if you don't hear other people talking about it, be very skeptical.

1071
01:04:42,378 --> 01:04:43,378
Watch out for this stuff.

1072
01:04:44,058 --> 01:04:44,538
Watch out.

1073
01:04:44,778 --> 01:04:46,958
There's only a few apps people should be using on mobile.

1074
01:04:47,018 --> 01:04:48,238
And we've talked about them before on the show.

1075
01:04:48,298 --> 01:04:49,518
There is no Sparrow mobile app.

1076
01:04:49,538 --> 01:04:51,698
And I just feel so bad for Bitcoin for Jimmy.

1077
01:04:52,258 --> 01:04:53,498
He does have a GoFundMe going.

1078
01:04:53,498 --> 01:04:54,738
but you know

1079
01:04:54,738 --> 01:04:56,438
these things do happen

1080
01:04:56,438 --> 01:04:56,798
and it's

1081
01:04:56,798 --> 01:04:57,698
it's

1082
01:04:57,698 --> 01:04:58,598
there is a

1083
01:04:58,598 --> 01:04:59,618
immense responsibility

1084
01:04:59,618 --> 01:05:01,198
that you take

1085
01:05:01,198 --> 01:05:02,378
when you get behind

1086
01:05:02,378 --> 01:05:03,078
the wheel of a car

1087
01:05:03,078 --> 01:05:04,698
when you raise a child

1088
01:05:04,698 --> 01:05:05,678
when you cook

1089
01:05:05,678 --> 01:05:06,318
with a barbecue

1090
01:05:06,318 --> 01:05:07,938
or when you hold

1091
01:05:07,938 --> 01:05:08,398
your bitcoin

1092
01:05:08,398 --> 01:05:10,118
and you know

1093
01:05:10,118 --> 01:05:11,418
it used the Sparrow

1094
01:05:11,418 --> 01:05:12,538
logo and icon too

1095
01:05:12,538 --> 01:05:13,998
I saw some screenshots

1096
01:05:13,998 --> 01:05:14,898
like if you just

1097
01:05:14,898 --> 01:05:15,478
looked at the app store

1098
01:05:15,478 --> 01:05:15,818
listing

1099
01:05:15,818 --> 01:05:17,038
it looks kind of legit

1100
01:05:17,038 --> 01:05:18,178
so you have to

1101
01:05:18,178 --> 01:05:19,038
kind of feel for the guy

1102
01:05:19,038 --> 01:05:20,018
watch out

1103
01:05:20,018 --> 01:05:21,558
no Sparrow on mobile

1104
01:05:21,558 --> 01:05:23,118
PayPal

1105
01:05:23,118 --> 01:05:29,278
announced that you can use Bitcoin as a source of payment if you're holding Bitcoin on PayPal.

1106
01:05:29,278 --> 01:05:33,278
Speaking of wallets, you probably shouldn't be using. PayPal has rolled out a new feature

1107
01:05:33,278 --> 01:05:40,018
allowing US businesses to accept payments in 100 different assets, Bitcoin being one of them.

1108
01:05:40,578 --> 01:05:43,958
So now when you're purchasing something via PayPal, you could do it from a credit card,

1109
01:05:44,078 --> 01:05:47,538
from your bank account, whatever you have connected to PayPal, plus your crypto holdings.

1110
01:05:48,258 --> 01:05:50,438
Not a bad, not a bad thing.

1111
01:05:50,618 --> 01:05:52,658
I'm just not a big fan of the PayPal wallet itself,

1112
01:05:52,658 --> 01:05:53,778
but I thought you should be aware of it.

1113
01:05:53,818 --> 01:05:55,758
We talked about a strike.

1114
01:05:55,958 --> 01:05:56,798
No, Stripe.

1115
01:05:57,278 --> 01:05:57,858
I don't know.

1116
01:05:58,118 --> 01:05:59,798
We talked about the point of sales device recently

1117
01:05:59,798 --> 01:06:00,978
that is adding lightning support.

1118
01:06:01,618 --> 01:06:03,178
So it's nice to see also PayPal.

1119
01:06:03,618 --> 01:06:05,438
I think it's, you know, not lightning

1120
01:06:05,438 --> 01:06:06,818
because it's just in their on-chain wallet,

1121
01:06:07,198 --> 01:06:09,158
but they're facilitating the transaction nonetheless.

1122
01:06:10,878 --> 01:06:12,918
I came across an interesting interview.

1123
01:06:12,918 --> 01:06:15,178
I'll link to the whole thing with Brian Armstrong,

1124
01:06:15,178 --> 01:06:26,215
the CEO of Coinbase and he been hit and miss on his Bitcoin takes over the year And his company absolutely shit coins There no question about that

1125
01:06:26,555 --> 01:06:29,155
So it's always worthwhile checking in

1126
01:06:29,155 --> 01:06:31,895
on Brian Armstrong's point of view on Bitcoin.

1127
01:06:32,495 --> 01:06:34,055
Bitcoin is probably the best form of money

1128
01:06:34,055 --> 01:06:35,295
that's ever created.

1129
01:06:35,535 --> 01:06:36,635
What is money to you?

1130
01:06:37,155 --> 01:06:37,355
Yeah.

1131
01:06:37,995 --> 01:06:40,215
Well, to me, money is really like a medium of exchange.

1132
01:06:40,515 --> 01:06:43,575
And it came out of this need from the barter system

1133
01:06:43,575 --> 01:06:44,795
not fully working, right?

1134
01:06:44,795 --> 01:06:51,655
Like if I grow apples and you raise beef and I kind of want some beef, but you don't need my apples right now, you got enough apples.

1135
01:06:51,815 --> 01:06:54,615
It's like that's a barrier to a trade happening, right?

1136
01:06:54,615 --> 01:07:04,495
So it helps if we have this common medium of exchange that can be used to price things and just allow a transaction to happen even if you don't need the exact good that I produce, right?

1137
01:07:05,155 --> 01:07:08,575
And, you know, over time, lots of things have been used as money, right?

1138
01:07:08,595 --> 01:07:11,735
Like people use salt as money at one point.

1139
01:07:11,735 --> 01:07:18,615
In prisons, people use like cigarettes or different food items as money, seashells, you know, famously all these like kind of things.

1140
01:07:18,995 --> 01:07:23,035
And there's certain properties of money that make it good money or bad money, right?

1141
01:07:23,095 --> 01:07:25,455
Like, like scarcity is one of those.

1142
01:07:25,715 --> 01:07:31,615
Can people just, if you can use, find a bunch more seashells on the beach, then that's like a bad form of money, right?

1143
01:07:31,655 --> 01:07:36,795
Or durability, like, you know, will the thing deteriorate over time?

1144
01:07:36,795 --> 01:07:40,315
like bread or something like that is probably like a bad form of currency because it just,

1145
01:07:40,375 --> 01:07:47,095
it goes bad. It rots, right? How portable is it? Like, you know, a bar of gold is great as like a

1146
01:07:47,095 --> 01:07:51,255
store of value, which by the way is another good property of money, but it's hard to move gold.

1147
01:07:51,355 --> 01:07:57,095
Like if I need to pay somebody in Japan, like I need to fly that bar of gold, right? Or how

1148
01:07:57,095 --> 01:08:01,875
subdivisible is it, right? Can I like chip off a little flake of gold to pay for my coffee or,

1149
01:08:02,035 --> 01:08:06,335
you know? So people look at these different properties of money and you can kind of score

1150
01:08:06,335 --> 01:08:10,835
score different monies. And like, this is partly why I think Bitcoin is probably the best form of

1151
01:08:10,835 --> 01:08:17,195
money that's ever created because it is scarce, provably scarce, just like gold or something like

1152
01:08:17,195 --> 01:08:22,675
that. But it's more portable than gold. You can send a Bitcoin transaction kind of anywhere in

1153
01:08:22,675 --> 01:08:29,315
the world pretty quickly. It's subdivisible down to like eight decimal places. You know,

1154
01:08:29,315 --> 01:08:34,375
it's very durable. It's not going to go bad or, and it's, it's like, it's fungible too. Like,

1155
01:08:34,375 --> 01:08:38,515
you know that if I have one Bitcoin, it's just as good as another Bitcoin, right? Like some,

1156
01:08:38,675 --> 01:08:43,155
you know, imagine if you had like different purities of metals and like, oh, is this one

1157
01:08:43,155 --> 01:08:48,855
diluted a little bit? Or like, are they hiding some lead in there? You know? So yeah, I think

1158
01:08:48,855 --> 01:08:56,195
you could think of Bitcoin as like a digital gold and it's, it has some of the best properties of

1159
01:08:56,195 --> 01:08:59,775
gold, but some of the ones that gold doesn't have to like the portability and subdivisibility,

1160
01:08:59,775 --> 01:09:05,375
the programmability to a little, I would say you can use it in different, set up different

1161
01:09:05,375 --> 01:09:09,755
contracts with it and things like that. So that's kind of what money is to me. It's intended to be

1162
01:09:09,755 --> 01:09:15,955
a medium of exchange. And I think crypto is really providing a better alternative on that dimension.

1163
01:09:15,955 --> 01:09:21,995
Huh. So he does get it. So he does understand. I mean, that's a pretty damn good explanation of

1164
01:09:21,995 --> 01:09:25,255
money. I told you we'd get to what money is. That's a pretty damn good explanation.

1165
01:09:25,975 --> 01:09:28,035
So why mess around with all the other stuff?

1166
01:09:28,375 --> 01:09:31,895
Why slow down the adoption of the world's best money?

1167
01:09:32,655 --> 01:09:33,915
I don't get that.

1168
01:09:33,975 --> 01:09:37,515
He says, quote, Bitcoin is probably the best form of money ever created.

1169
01:09:38,055 --> 01:09:39,895
So why are we messing around with all the other stuff again?

1170
01:09:40,815 --> 01:09:41,035
Brian?

1171
01:09:42,115 --> 01:09:44,835
I mean, I realize there's other uses potentially for blockchain,

1172
01:09:44,835 --> 01:09:49,015
but so far it just seems to be pretty much gambling over at their Coinbase.

1173
01:09:49,475 --> 01:09:51,295
So there is that and the entire interview.

1174
01:09:51,835 --> 01:09:53,375
I don't know if I can really recommend it.

1175
01:09:53,475 --> 01:09:54,235
Bits of it are interesting.

1176
01:09:54,235 --> 01:09:59,675
other bits are a little boring, but I'll link to it in the show notes. And then I wanted to let you

1177
01:09:59,675 --> 01:10:05,175
know about an app that I'm probably deploying over the next week or two, and maybe we could do it

1178
01:10:05,175 --> 01:10:12,475
together. It's called sat.watch, and you can actually find it at sat.watch, and it gives you

1179
01:10:12,475 --> 01:10:19,015
instant alerts for any Bitcoin address you want to monitor. So think you have cold storage,

1180
01:10:19,395 --> 01:10:35,491
you not actively opening up your wallet app and checking the balance all the time But you would like to know if the amounts have changed perhaps get alerts for any kinds of incoming or outgoing transactions and things like that And it pretty neat pretty simple pretty straightforward web app

1181
01:10:36,011 --> 01:10:39,931
Again, it's called sat.watch. And the developer talked about who he made the tool for.

1182
01:10:40,111 --> 01:10:48,891
And for me, I built this as a tool to monitor my self-custody Bitcoin. I take extra care to secure

1183
01:10:48,891 --> 01:10:50,451
and store my keys.

1184
01:10:51,571 --> 01:10:54,891
But observability is one thing I was desperately lacking.

1185
01:10:55,211 --> 01:10:56,991
I didn't have a wallet software running

1186
01:10:56,991 --> 01:10:59,011
to monitor my stack.

1187
01:10:59,531 --> 01:11:01,371
And I just wanted to have that peace of mind.

1188
01:11:01,851 --> 01:11:05,471
So I built this tool as a way of getting notified instantly

1189
01:11:05,471 --> 01:11:06,791
if there's something going on

1190
01:11:06,791 --> 01:11:08,671
with any of the addresses in my wallet.

1191
01:11:09,671 --> 01:11:11,511
But you might have a different use case.

1192
01:11:11,651 --> 01:11:13,531
Perhaps you have a multi-sig account

1193
01:11:13,531 --> 01:11:15,871
and there's lots of companies that offer services

1194
01:11:15,871 --> 01:11:20,511
like vaults or loan products that have a two of three multi-sig.

1195
01:11:20,931 --> 01:11:26,011
And this is a great tool that you could use to just have extra eyes on that account to

1196
01:11:26,011 --> 01:11:29,471
make sure if anything moves that you get notified.

1197
01:11:30,111 --> 01:11:31,171
Sounds pretty handy.

1198
01:11:31,311 --> 01:11:33,751
And it's something I think I'd like to try because I'm always curious.

1199
01:11:34,111 --> 01:11:36,631
I don't even like really launching any of my wallet apps.

1200
01:11:36,691 --> 01:11:38,391
I just try not to even think about it much.

1201
01:11:38,511 --> 01:11:44,351
But a notification that comes in either via email or webhook could be pretty useful.

1202
01:11:44,351 --> 01:11:48,531
so that way you can set it and forget it, but then be alerted if anything were to change.

1203
01:11:49,051 --> 01:11:51,671
I'll put a link to that in the show notes as well.

1204
01:11:58,411 --> 01:12:06,351
Now, sticking with the topic of money, Saifedean, the author of The Bitcoin Standard, went on CNBC

1205
01:12:06,351 --> 01:12:12,151
and gave them a bit of a masterclass on the topic. You'd think these folks would understand the

1206
01:12:12,151 --> 01:12:18,491
subject, but they called on safe and he helped him out. There's characteristics of why gold for

1207
01:12:18,491 --> 01:12:24,091
4,000 years has been used to represent value, but it has nothing to do with what it's used for.

1208
01:12:24,931 --> 01:12:30,511
I also think it's worth revisiting these topics because this is the signal in the noise. You

1209
01:12:30,511 --> 01:12:36,411
understand, right? You understand that if we stay focused on what is good money, what is hard money,

1210
01:12:36,631 --> 01:12:41,871
it naturally leads to Bitcoin. And there'll be a lot of noise over the next couple of years,

1211
01:12:41,871 --> 01:12:49,091
likely, but it's these properties, especially as inflation just continues to eat away, even if it's

1212
01:12:49,091 --> 01:12:54,131
a 2% or 3%, but if it goes up at all, and it's really, it's money printing. It's not even

1213
01:12:54,131 --> 01:12:58,611
inflation. It's money printing. M2 supply is just up like a rocket. So it's not a United States

1214
01:12:58,611 --> 01:13:05,811
thing. It's an everywhere thing. So these basic fundamentals are absolutely critical for us to

1215
01:13:05,811 --> 01:13:13,271
stay focused on lock on or as my kids would say lock in no it stores value well because it's very

1216
01:13:13,271 --> 01:13:16,951
difficult to increase the supply of gold it's very difficult to increase the supply of gold

1217
01:13:16,951 --> 01:13:20,751
substantially every year the supply of gold goes up at only around one and a half to two percent

1218
01:13:20,751 --> 01:13:24,851
and so that means that people who hold it as money end up doing very well for themselves

1219
01:13:24,851 --> 01:13:30,071
and people hold other things don't do well and that is true for gold and that's what made gold

1220
01:13:30,071 --> 01:13:33,991
money for the whole world practically at the beginning of the 20th century then governments

1221
01:13:33,991 --> 01:13:39,551
come about and they use their debt as money. And since then, the average over the last 60 years or

1222
01:13:39,551 --> 01:13:46,711
so, between 1960 and 2020, for 60 years, the average fiat currency grew in supply at around

1223
01:13:46,711 --> 01:13:53,211
14% per year, or overall fiat currencies grew in supply at around 14% per year. So we went from

1224
01:13:53,211 --> 01:13:59,131
one and a half percent to 14%, about 10-fold increase in the supply growth rate. And 14%

1225
01:13:59,131 --> 01:14:04,091
per year means that on average, you lose half of the value that's stored in money over five years.

1226
01:14:04,271 --> 01:14:07,931
So you lose half of the value of your money over five years. That's the average fiat experience.

1227
01:14:08,051 --> 01:14:11,871
Of course, some currencies are better than the average, like the US dollar and euro. They only

1228
01:14:11,871 --> 01:14:16,971
increase at around 7, 8% per year. Some currencies are a lot worse. They increase at 20, 50,

1229
01:14:16,971 --> 01:14:22,771
maybe 100 sometimes percent per year. But on average, it's just continuously increasing in

1230
01:14:22,771 --> 01:14:27,431
supply. So its value declines. And because its value declines, that incentivizes everybody to,

1231
01:14:27,431 --> 01:14:38,068
A not save and B take on a lot of debt And that why everybody is in debt And that what Bitcoin fixes If we go back to having a hard money where money is no longer debt we no longer need to be

1232
01:14:38,068 --> 01:14:43,628
monetizing debt. We no longer need to get everybody to become a debt slave in order for us to have a

1233
01:14:43,628 --> 01:14:47,468
form of money. We have a form of money that is just a commodity that doesn't require anybody to

1234
01:14:47,468 --> 01:14:48,488
get into debt for it.

1235
01:14:57,888 --> 01:15:02,448
Let's check in on the state of the network before I get out of here.

1236
01:15:02,448 --> 01:15:05,768
Wrapping up at block height 907,852.

1237
01:15:06,048 --> 01:15:13,048
Current Bitcoin USD price is $116,240 in USD.

1238
01:15:13,708 --> 01:15:16,548
Sats per dollar is coming in at 861 sats per dollar.

1239
01:15:17,068 --> 01:15:23,728
We're down 5.7% from our all-time high of $123,180 16 days ago.

1240
01:15:24,408 --> 01:15:26,988
That was on July 14th, 2025.

1241
01:15:27,888 --> 01:15:33,988
Our difficulty retarget date is set for August 9th, with an estimated difficulty change downward of 4.6%.

1242
01:15:33,988 --> 01:15:34,908
Keep an eye on that.

1243
01:15:34,908 --> 01:15:43,988
And there are currently 22,973 reachable nodes on the network, so close to 23,000.

1244
01:15:44,948 --> 01:15:55,728
Checking in on Bitcoin Noughts, now the third most popular Bitcoin node version, just after Bitcoin Core 2829, then Noughts.

1245
01:15:55,728 --> 01:16:02,748
clocking in exactly this evening at 15.0% of the market share.

1246
01:16:03,068 --> 01:16:03,408
Incredible.

1247
01:16:03,948 --> 01:16:05,608
It was actually just a touch higher earlier today.

1248
01:16:05,688 --> 01:16:06,628
It was at 15.1.

1249
01:16:07,288 --> 01:16:09,308
Oh, and it just, as I'm watching it,

1250
01:16:09,568 --> 01:16:13,248
literally ticked back to 15.1% of the network.

1251
01:16:13,888 --> 01:16:14,848
Look at Knott's go.

1252
01:16:15,688 --> 01:16:16,828
Let's see if we can't get that.

1253
01:16:17,628 --> 01:16:20,388
The reachable nodes just hit 23,000 right now.

1254
01:16:20,608 --> 01:16:22,448
Oh, that's so cool.

1255
01:16:22,448 --> 01:16:25,408
Oh, the state of the Bitcoin network.

1256
01:16:25,408 --> 01:16:26,268
is strong.

1257
01:16:37,608 --> 01:16:39,308
Thank you so much for joining me today.

1258
01:16:39,488 --> 01:16:42,048
Links are at thisweekinbitcoin.show.

1259
01:16:42,548 --> 01:16:46,468
My goal is to create a show that doesn't get distracted by the emotions around what's

1260
01:16:46,468 --> 01:16:47,988
happening, but focuses on the signal.

1261
01:16:48,588 --> 01:16:49,668
Let me know how I did with a boost.

1262
01:16:49,768 --> 01:16:51,028
Always appreciate corrections.

1263
01:16:51,908 --> 01:16:55,388
Of course, I also like to know what you think I missed or what you would like to hear

1264
01:16:55,388 --> 01:16:56,368
from the show in the future.

1265
01:16:56,908 --> 01:16:57,228
And of course,

1266
01:16:57,268 --> 01:16:58,268
your feedback and answer

1267
01:16:58,268 --> 01:17:00,088
to my challenge above

1268
01:17:00,088 --> 01:17:01,788
are also appreciated.

1269
01:17:03,188 --> 01:17:04,448
Now, I will leave you

1270
01:17:04,448 --> 01:17:06,468
with no value for value track

1271
01:17:06,468 --> 01:17:07,048
again this week.

1272
01:17:07,108 --> 01:17:07,888
We're still working on it

1273
01:17:07,888 --> 01:17:08,528
on the back end.

1274
01:17:08,648 --> 01:17:09,468
So I'm a little sad

1275
01:17:09,468 --> 01:17:10,268
because I think it's such

1276
01:17:10,268 --> 01:17:11,028
a great tech demo

1277
01:17:11,028 --> 01:17:12,008
and the artists love it.

1278
01:17:12,688 --> 01:17:14,008
But I also want to wait

1279
01:17:14,008 --> 01:17:14,808
for the right solution.

1280
01:17:14,948 --> 01:17:16,608
And I trust that the Fountain team

1281
01:17:16,608 --> 01:17:17,368
is going to nail it

1282
01:17:17,368 --> 01:17:18,188
when they do have it.

1283
01:17:18,528 --> 01:17:19,728
So I'll just say this.

1284
01:17:19,788 --> 01:17:20,328
Thank you so much

1285
01:17:20,328 --> 01:17:20,808
for joining me

1286
01:17:20,808 --> 01:17:21,788
on this week's episode

1287
01:17:21,788 --> 01:17:22,868
of This Week in Bitcoin,

1288
01:17:22,988 --> 01:17:23,928
episode 66.

1289
01:17:24,448 --> 01:17:25,328
And I hope you will join me

1290
01:17:25,328 --> 01:17:28,508
right back here next week for a whole new episode.

1291
01:17:55,328 --> 01:18:25,308
Thank you.

1292
01:18:25,328 --> 01:18:37,908
Thank you.