1 00:00:00,017 --> 00:00:08,437 We're going to bring in medified CEO Frank Spicer and fascinating to see Bitcoin hit 82,000 or more. 2 00:00:08,677 --> 00:00:12,517 But how much more upside is there? You know, how much is this the, 3 00:00:12,597 --> 00:00:16,657 you know, buy the rumor, sell the news kind of story at the end of the day, 4 00:00:16,857 --> 00:00:18,757 especially when you're by the news. 5 00:00:19,197 --> 00:00:22,017 We were up, up, up. And then Trump got elected and they were up, 6 00:00:22,077 --> 00:00:24,657 up, up. But nothing's happened yet. Like everything else. 7 00:00:25,057 --> 00:00:29,477 OK, that's a good point. The news hasn't come yet. There's no new SEC chief yet. 8 00:00:29,597 --> 00:00:33,697 There is no new head of all these regulatory agencies outside of that. 9 00:00:31,440 --> 00:00:45,680 Music. 10 00:00:33,837 --> 00:00:34,557 Frank, what do you think? 11 00:00:46,077 --> 00:00:49,437 Welcome in to episode 35 of This Week in Bitcoin. 12 00:00:49,797 --> 00:00:53,537 My name is Chris, and I'm reporting in a little early this week because, 13 00:00:53,897 --> 00:01:01,057 as you can tell from our intro clip, the folks are having a hard time explaining what's going on. 14 00:01:01,717 --> 00:01:06,977 Because the coin be pumping. The action we're seeing right now really kicked off over the weekend. 15 00:01:07,157 --> 00:01:13,917 While the legacy markets were closed, Bitcoin pumped and broke $86,000 Monday morning. 16 00:01:14,317 --> 00:01:21,277 And the U.S. spot Bitcoin ETFs reached $84 billion in total holding across the 17 00:01:21,277 --> 00:01:27,697 funds, which, incidentally, is two-thirds of the way to the gold ETF, what the gold ETF holds. 18 00:01:28,517 --> 00:01:34,557 And the Bloomberg analyst, Eric B., he thought it would take like three to four 19 00:01:34,557 --> 00:01:39,457 years to get to the levels we're seeing almost right now with the Bitcoin ETFs. 20 00:01:39,557 --> 00:01:42,797 And that's on top of just the monster week they had last week. 21 00:01:42,897 --> 00:01:47,577 And then MicroStrategy, just a few hours ago, announced they bought another 22 00:01:47,577 --> 00:01:52,057 $2 billion worth of Bitcoin. So 27,200 coins. 23 00:01:53,357 --> 00:01:57,417 The well-known 725 billion 24 00:01:57,417 --> 00:02:00,517 dollar bernstein management company 25 00:02:00,517 --> 00:02:05,737 told their investors that they should add exposure to bitcoin quote as soon 26 00:02:05,737 --> 00:02:10,937 as possible and then you see the bitcoin adjacent mania taking over the stock 27 00:02:10,937 --> 00:02:16,597 market early this week as well with coinbase and microstrategy rallying and 28 00:02:16,597 --> 00:02:19,377 now in the top five most traded stocks right now. 29 00:02:19,797 --> 00:02:24,637 Something that you only ever really see Tesla and NVIDIA in, which are also up today. 30 00:02:25,197 --> 00:02:29,297 El Salvador is $119 million in profit. 31 00:02:29,797 --> 00:02:33,097 And the media has gone super bullish. 32 00:02:33,377 --> 00:02:37,237 Just looking at MicroStrategy and thinking about, it's $50 billion now, 33 00:02:37,337 --> 00:02:39,897 but thinking about Michael Saylor and all along. 34 00:02:40,819 --> 00:02:43,679 What his viewpoint has been and how he wasn't shy 35 00:02:43,679 --> 00:02:46,439 at all about and he really he almost in real 36 00:02:46,439 --> 00:02:49,579 life has his laser eyes almost in 37 00:02:49,579 --> 00:02:52,319 real life but the stackers and the hodlers they 38 00:02:52,319 --> 00:02:55,399 must be at this point anyone who has been stacking 39 00:02:55,399 --> 00:03:00,079 or hodling is on top of the world oh absolutely microstrategy was the first 40 00:03:00,079 --> 00:03:03,119 mover in terms of adding bitcoin to their balance sheet and that's why this 41 00:03:03,119 --> 00:03:06,659 national crypto stockpile is so compelling so essentially the u.s government 42 00:03:06,659 --> 00:03:10,439 has 16 billion dollars worth of Bitcoin already on its balance sheet that it 43 00:03:10,439 --> 00:03:12,779 has amassed through these seizure operations. 44 00:03:12,979 --> 00:03:17,339 But what Donald Trump is talking about doing is not only holding on to that, 45 00:03:17,419 --> 00:03:20,799 but he's also been talking to Senator Lummis and her team who put forth legislation 46 00:03:20,799 --> 00:03:24,859 to buy 1 million Bitcoin over the course of five years so that ultimately you 47 00:03:24,859 --> 00:03:26,479 get a supply of Bitcoin held by the U.S. 48 00:03:26,559 --> 00:03:30,159 Government that is tantamount to what we have in gold reserves, 49 00:03:30,559 --> 00:03:32,159 5% of the total Bitcoin supply. 50 00:03:32,339 --> 00:03:35,099 So it's just, you're even seeing the U.S. government potentially leaning into 51 00:03:35,099 --> 00:03:38,059 this huddle strategies you were saying well either you're 52 00:03:38,059 --> 00:03:41,499 just really excited about your job or you're orange-pilled 53 00:03:41,499 --> 00:03:44,319 one or the other i i can tell how quickly you're talking how much 54 00:03:44,319 --> 00:03:47,719 you know about this so you eat it up she does seem to be pretty fired up about 55 00:03:47,719 --> 00:03:52,859 it so why why is it pumping right now is it just the trump trade is it because 56 00:03:52,859 --> 00:03:57,599 trump promised to buy a bunch of coins like cnbc just put out there well yeah 57 00:03:57,599 --> 00:04:02,539 probably in part yeah actually probably in part bitcoin is up 21 since Donald Trump won the election. 58 00:04:02,939 --> 00:04:05,739 But I think it's actually much bigger than just Trump. 59 00:04:05,939 --> 00:04:11,919 It's really about the overall crypto market all of a sudden de-risking as a 60 00:04:11,919 --> 00:04:13,279 result of this election. 61 00:04:13,699 --> 00:04:16,879 And we are now seeing a very friendly U.S. 62 00:04:17,059 --> 00:04:20,159 Government. It's like a friendly U.S. government trade that we're seeing. 63 00:04:20,319 --> 00:04:23,479 Well, I think just taking a larger picture or a larger view of this picture, 64 00:04:23,659 --> 00:04:27,079 when we think about crypto and cryptocurrencies in the digital assets space, 65 00:04:27,259 --> 00:04:30,359 I think there is a good mixture of winners and losers. 66 00:04:30,599 --> 00:04:33,579 And I think a lot of the headlines are going to the spot market. 67 00:04:33,579 --> 00:04:37,339 But one of the things that everyone should appreciate is that the crypto industry 68 00:04:37,339 --> 00:04:40,639 is going to be met with an administration that is more crypto friendly, 69 00:04:40,639 --> 00:04:45,599 that's going to lead to lesser regulation or lesser hurdles that should lead 70 00:04:45,599 --> 00:04:49,779 to greater adoption of cryptocurrencies within our financial institution. 71 00:04:49,879 --> 00:04:53,979 So I think in this space, you know, whomever the manager is having that active 72 00:04:53,979 --> 00:04:59,379 view to sort of decipher where regulatory headwinds and tailwinds might be as 73 00:04:59,379 --> 00:05:02,999 this industry continues to mature and become a larger part of the financial marketplace. 74 00:05:03,199 --> 00:05:05,399 So I think this is something that should be on everyone's radar. 75 00:05:05,599 --> 00:05:09,779 I know some of the spot market gets a lot of the headlines, but there's a lot 76 00:05:09,779 --> 00:05:13,139 of potential opportunity beneath the surface, particularly in that ecosystem 77 00:05:13,139 --> 00:05:15,199 supporting overall digital assets. 78 00:05:15,339 --> 00:05:17,779 Yeah, things like the Coinbase stock and MicroStrategy. 79 00:05:17,959 --> 00:05:23,419 Now, what he's kind of saying there is that the market is factoring in a new 80 00:05:23,419 --> 00:05:25,479 regulatory climate around cryptocurrency. 81 00:05:25,999 --> 00:05:30,759 And as a result, crypto in general, not just Bitcoin, but crypto in general 82 00:05:30,759 --> 00:05:35,159 is going through another price discovery mode after such a major shift. 83 00:05:35,805 --> 00:05:39,745 So if you imagine something that was really murky and unknown now goes from, 84 00:05:39,865 --> 00:05:43,185 well, Gary Gensler is going out and it seems like the shit coins are going to get to pump. 85 00:05:44,225 --> 00:05:48,425 Investors are excited about that and they're going to be searching for the next 86 00:05:48,425 --> 00:05:52,225 correct market price for Bitcoin in this environment for a little bit. 87 00:05:52,585 --> 00:05:56,185 And yeah, of course, there is the Trump trade factor as well. 88 00:05:56,425 --> 00:05:59,845 Yeah. So, Scott, so much of this record surge in the crypto market comes down 89 00:05:59,845 --> 00:06:03,705 to four promises that Trump made to the industry. On day one, 90 00:06:03,825 --> 00:06:05,965 he says he'll fire SEC chair Gary Gensler. 91 00:06:06,105 --> 00:06:10,505 That's very likely why you're seeing stocks embroiled in lawsuits with the regulator surging. 92 00:06:10,665 --> 00:06:15,445 Coinbase up around 20 percent today after ending last week 50 percent higher. 93 00:06:15,605 --> 00:06:20,185 Second thing here, the repeal of Saab 121, which is this niche accounting rule 94 00:06:20,185 --> 00:06:25,085 from the SEC that actually stands in the way of banks custodying cryptocurrencies like Bitcoin. 95 00:06:25,545 --> 00:06:29,725 Trump also wants to launch a national crypto stockpile and take 16 billion dollars 96 00:06:29,725 --> 00:06:34,145 worth of Bitcoin that the government already holds and permanently take it out of supply. 97 00:06:34,685 --> 00:06:38,925 And finally, I've talked to several Bitcoin miners, the CEOs from these companies 98 00:06:38,925 --> 00:06:41,445 behind. They are having closed door meetings with Trump. 99 00:06:41,625 --> 00:06:45,125 They say that he's promising heavy investment in the rapid build out of energy 100 00:06:45,125 --> 00:06:48,265 production and transmission infrastructure across the country. 101 00:06:48,525 --> 00:06:51,325 These mining stocks seem double digit percentage gains. 102 00:06:51,885 --> 00:06:54,805 That's a little bit of original reporting that she just added there. 103 00:06:54,905 --> 00:06:58,805 And that may be a factor in a bit of this is that Trump made the claim that 104 00:06:58,805 --> 00:07:02,825 he wants all the Bitcoin to be mined in America, which of course is impossible, 105 00:07:02,825 --> 00:07:05,565 but perhaps the sentiment is being well received. 106 00:07:05,865 --> 00:07:10,965 I postulated that we might see the market react negatively to Trump's plan around 107 00:07:10,965 --> 00:07:13,985 tariffs because there could be some second and third order effects there. 108 00:07:14,345 --> 00:07:19,345 However, it seems like this is overall a market that trusts that Trump won't 109 00:07:19,345 --> 00:07:21,645 screw with the stock market too much. 110 00:07:21,945 --> 00:07:24,985 This is a clip that I'll play for you here because I just thought the analysis, 111 00:07:25,245 --> 00:07:29,905 I don't know if I agree with it 100%. I'd like you to hear it and tell me what you think. 112 00:07:30,565 --> 00:07:35,185 Joining us now, Jeremy Siegel, Professor Emeritus of Finance at the University 113 00:07:35,185 --> 00:07:39,825 of Pennsylvania's Wharton School of Business and Chief Economist at Wisdom Tree. 114 00:07:40,465 --> 00:07:43,165 Jeremy, it's good to see you. I think we spoke to you recently. 115 00:07:44,045 --> 00:07:47,605 Reading some of your notes this morning, I think what 116 00:07:47,605 --> 00:07:53,885 I drew from these is that the markets are so important to Trump that the markets 117 00:07:53,885 --> 00:07:59,805 could preclude him from doing some of the more draconian things that he's talked 118 00:07:59,805 --> 00:08:05,305 about versus him doing the things first and then seeing how the markets react. 119 00:08:05,425 --> 00:08:09,665 So you think that the markets could actually dictate Trump's policies? 120 00:08:10,545 --> 00:08:16,425 Absolutely, Joe. I mean, President Trump is the most pro-stock market president 121 00:08:16,425 --> 00:08:18,005 we have had in our history. 122 00:08:18,245 --> 00:08:23,965 He measured his success in his first term by how well the stock market did. 123 00:08:24,305 --> 00:08:30,565 So, you know, it seems to me very unlikely that he's going to implement policies 124 00:08:30,565 --> 00:08:32,985 that are going to be bad for the stock market. 125 00:08:32,985 --> 00:08:39,985 And in addition, the bond market, you know, we're beginning to talk about the bond vigilantes again. 126 00:08:40,445 --> 00:08:44,885 I thought what happened on Wednesday after we won, when those yields went up, 127 00:08:44,985 --> 00:08:51,145 was a shot across the bow saying, hey, you know, just watch out what you do. We're there. 128 00:08:51,505 --> 00:08:57,345 And all the tax cuts you promised, we're very skeptical unless there's other 129 00:08:57,345 --> 00:08:59,105 structural changes that are going to happen. 130 00:08:59,105 --> 00:09:04,805 So both the bond market and the stock market are going to be really big constraints 131 00:09:04,805 --> 00:09:08,705 on, you know, many of Trump's programs. 132 00:09:08,865 --> 00:09:12,805 That said, I mean, you know, you know, because he's taken the House, 133 00:09:12,965 --> 00:09:14,865 Senate and presidency, I think 134 00:09:14,865 --> 00:09:21,525 an extension of his 2017 tax cuts looks pretty much like a slam dunk. 135 00:09:21,525 --> 00:09:27,685 But the expansion to all his other tax cuts is certainly going to be much more difficult. 136 00:09:28,265 --> 00:09:31,565 I'd be curious to know what you think out there listening. I don't know if I 137 00:09:31,565 --> 00:09:36,745 completely agree, but I do think the previous Trump administration was definitely 138 00:09:36,745 --> 00:09:40,785 impacted by the performance of the stock market. And it was a metric he paid close attention to. 139 00:09:41,025 --> 00:09:46,865 And I could see that exact metric being the thing that kind of reels him in on some of the tariffs. 140 00:09:47,025 --> 00:09:51,225 Perhaps instead of 60 percent tariffs, you know, it's 10 percent tariffs and things like that. 141 00:09:51,325 --> 00:09:54,365 But I'd be curious to know if you think if that's a if that's a buffer there, 142 00:09:54,485 --> 00:09:57,165 if that's a good thing, if that's a check boosted and let me know. 143 00:09:57,165 --> 00:10:02,125 But there's other things besides just these new policies, the de-risking of crypto. 144 00:10:02,425 --> 00:10:07,285 Of course, there is a larger market that's looking for a safe hedge play. 145 00:10:07,945 --> 00:10:13,985 55% of government spending now goes to unproductive areas such as the interest payment. 146 00:10:14,632 --> 00:10:19,352 And there is a just dramatic rapid increase in interest payments, 147 00:10:19,352 --> 00:10:23,192 and it has been just skyrocketing over the last three years. 148 00:10:23,332 --> 00:10:27,272 Interest payments are now a share of federal revenue as a share of federal revenue 149 00:10:27,272 --> 00:10:28,632 have doubled since 2021. 150 00:10:29,052 --> 00:10:34,612 They've hit 17.9 percent in Q3 of 2024, which is the most since 1993. 151 00:10:35,392 --> 00:10:38,592 The reality is the government, the U.S. government needs lower rates. 152 00:10:38,592 --> 00:10:42,132 The market knows this, and they know that means that we're going to have, 153 00:10:42,252 --> 00:10:45,672 even though the market's ripping, the stock market's great, S&P's great, 154 00:10:45,812 --> 00:10:49,272 Bitcoin's great, real estate's doing fine, everything's ripping. 155 00:10:49,972 --> 00:10:52,472 No, not everything, but everything they pay attention to, and they're still 156 00:10:52,472 --> 00:10:56,092 lowering rates. Why? Because the government needs lower interest rates for their debt. 157 00:10:56,692 --> 00:11:01,552 Data released by the IMF projects U.S. government spending is set to reach $13 158 00:11:01,552 --> 00:11:06,552 trillion in 2029, which is about double where we're at right now. 159 00:11:06,612 --> 00:11:08,332 So it's probably going to be more than that. Let's be real. 160 00:11:08,592 --> 00:11:13,772 The U.S. government also posted its third largest budget deficit in history 161 00:11:13,772 --> 00:11:20,472 last month, reaching $1.8 trillion, which works out to be about 6.4% of GDP now. 162 00:11:20,832 --> 00:11:25,352 So we're at a total federal deficit of $35.9 trillion. 163 00:11:25,732 --> 00:11:31,272 We're just an inch away, one imperial inch away from $40 trillion. 164 00:11:31,832 --> 00:11:36,212 So that's the background macro factor that is at play that cannot be changed, 165 00:11:36,212 --> 00:11:38,072 that has been set in stone. 166 00:11:38,592 --> 00:11:41,852 That is also low-key driving the demand for Bitcoin. 167 00:11:43,341 --> 00:11:47,881 Retail has still been asleep so far, mostly. We're now starting to see Google 168 00:11:47,881 --> 00:11:51,261 search traffic just begin to tick up pretty sharply around Bitcoin. 169 00:11:51,721 --> 00:11:57,601 One week ago, the Coinbase app globally was ranked 484 in the App Store. 170 00:11:58,161 --> 00:12:04,981 Today, in the Apple App Store, it's ranked 70th. So it's gone from 484 to 70th worldwide. 171 00:12:05,741 --> 00:12:09,581 Clearly, some interest is beginning to bubble up, but we're not quite there 172 00:12:09,581 --> 00:12:14,221 yet. In CoinDesk, Andy Baer points out, there's probably some signs we could 173 00:12:14,221 --> 00:12:17,241 still see some long-term runway here for the price. 174 00:12:17,461 --> 00:12:19,961 Maybe be more realistic outcome. 175 00:12:20,221 --> 00:12:23,861 Yeah, I think, you know, the thing that we always have to remember about Bitcoin 176 00:12:23,861 --> 00:12:27,241 is those five percenters, right? The people who spend five percent of their 177 00:12:27,241 --> 00:12:30,041 investment time thinking about Bitcoin, that's much less than me. 178 00:12:30,161 --> 00:12:33,301 And maybe maybe maybe the rest of the viewers are in that category. 179 00:12:33,861 --> 00:12:38,661 Many of them just really haven't engaged yet. So I think part of the upward 180 00:12:38,661 --> 00:12:41,061 pressure is that adoption will continue. 181 00:12:41,361 --> 00:12:45,481 It'll be Bitcoin, of course, is a bigger breadth story. But that's one thing 182 00:12:45,481 --> 00:12:49,421 that other assets maybe that have capped momentum don't have. 183 00:12:49,521 --> 00:12:54,241 There's so much momentum possibility based on just the sheer fact that adoption 184 00:12:54,241 --> 00:12:55,461 is still at an early stage. 185 00:12:55,641 --> 00:13:00,941 And also that the president mentions Bitcoin a lot, right? Or the president-elect mentions Bitcoin. 186 00:13:01,181 --> 00:13:05,121 Current president does mention Bitcoin a lot. But just that kind of repeating 187 00:13:05,121 --> 00:13:09,721 kind of chorus of this is something interesting, I think, will bring a lot of new people in. 188 00:13:09,821 --> 00:13:12,401 And we have a long way to go with a limited supply of Bitcoin. 189 00:13:16,081 --> 00:13:19,961 All right. I want to know, are you getting people asking you about Bitcoin now? 190 00:13:20,581 --> 00:13:24,301 Boosted and tell me. Still nothing? No bites? Or are people starting to ask? 191 00:13:24,401 --> 00:13:27,861 And if they do ask, what is your policy on helping those folks? 192 00:13:27,961 --> 00:13:31,421 Do you give the solutions, things to try out? Or have you just noped out at 193 00:13:31,421 --> 00:13:35,401 this point? And I'm wondering, too, is anybody proactively orange pill in people at this point? 194 00:13:35,561 --> 00:13:38,781 Or is the audience gotten so cynical that you don't even talk to people about 195 00:13:38,781 --> 00:13:39,941 it unless they approach you first? 196 00:13:40,341 --> 00:13:45,221 As the price pumps, I've noticed a few more people are sending me messages these 197 00:13:45,221 --> 00:13:48,681 days asking me the best way to buy some Bitcoin. And I'm wondering if you're 198 00:13:48,681 --> 00:13:49,681 seeing the same thing or not. 199 00:13:49,761 --> 00:13:53,441 We'll do a little kind of, you know, informal study of the audience, 200 00:13:53,561 --> 00:13:56,921 I suppose, because I suspect maybe some of you are seeing a bump up, 201 00:13:57,041 --> 00:14:00,641 which may and maybe that'll increase if the price continues to increase. 202 00:14:00,641 --> 00:14:04,681 Because historically Bitcoin's price as it increases has been. 203 00:14:04,560 --> 00:14:20,560 Music. 204 00:14:20,718 --> 00:14:25,558 All right, coming up, your boost, a great project update, some reflections on 205 00:14:25,558 --> 00:14:31,938 adopting Bitcoin in El Salvador, and a final clip of the week you will not want to miss. 206 00:14:32,118 --> 00:14:35,358 So before we get there, if you'd like to support the show while you're stacking 207 00:14:35,358 --> 00:14:39,218 sats with River, that's the company I recommend, which is a Bitcoin-only company 208 00:14:39,218 --> 00:14:42,258 that has proof of reserves, has a beautiful interface, and lets you withdraw 209 00:14:42,258 --> 00:14:44,598 over lightning and DCA at the amounts you want. 210 00:14:44,658 --> 00:14:47,738 Yeah, that's River, and I have an affiliate link in the show notes. 211 00:14:48,518 --> 00:14:51,418 I think no matter what the price is, you should always be DCAing a little bit 212 00:14:51,418 --> 00:14:54,598 into Bitcoin, even if it's just five bucks a day or whatever it is. 213 00:14:54,958 --> 00:14:57,998 Go put that money in there over at River. I got a link in the show notes. 214 00:14:58,078 --> 00:15:00,498 You can stack sats and help the show stack sats at the same time. 215 00:15:00,638 --> 00:15:06,338 If you want to spend your sats, do it over the Lightning Network and use the Bitcoin company. 216 00:15:07,338 --> 00:15:10,198 Thebitcoincompany.com. Use the promo code Jupiter. You get bonus sats. 217 00:15:10,298 --> 00:15:11,258 The show gets bonus sats. 218 00:15:11,418 --> 00:15:14,418 I have no official relationship with these companies. I just like and use them 219 00:15:14,418 --> 00:15:18,138 both and recommend them to you. and it's a great way while you're getting yourself. 220 00:15:16,560 --> 00:15:27,600 Music. 221 00:15:18,138 --> 00:15:19,338 Something to support the show. 222 00:15:29,145 --> 00:15:32,445 And we do have a nice batch of boosts to get into today. 223 00:15:32,685 --> 00:15:39,145 And Bite Bandit is our baller booster with a beautiful 115,000 sets. 224 00:15:43,285 --> 00:15:45,345 You'll have to let me know if you can hear in the background, 225 00:15:45,345 --> 00:15:48,565 there is somebody outside playing the bagpipes. 226 00:15:48,725 --> 00:15:53,045 So we have a little bit of bagpipe music going along in the background. 227 00:15:53,585 --> 00:15:56,365 You might be able to hear it. Bite Bitten writes, so Bite Bitten, 228 00:15:56,485 --> 00:16:01,645 this music's for you. I'm going to try boosting as I listen for a change on the Bitcoin price talk. 229 00:16:01,825 --> 00:16:04,265 I'm going to give you the same answer I give about NixOS. 230 00:16:04,745 --> 00:16:07,605 If you think it's a big deal and deserves a spot in the episode, 231 00:16:07,865 --> 00:16:11,185 then I want to hear it. I listen and boost to the show because I value the things 232 00:16:11,185 --> 00:16:12,225 you think are important. 233 00:16:12,625 --> 00:16:15,045 If price is the big story and you think it belongs in the show, 234 00:16:15,185 --> 00:16:18,025 then bring it on. I appreciate that bite. 235 00:16:18,565 --> 00:16:22,525 Often my default is that perspective. But I know there are some topics that 236 00:16:22,525 --> 00:16:24,185 people don't love a lot of. 237 00:16:24,365 --> 00:16:26,805 And so, you know, I kind of try to meter it a little bit there. 238 00:16:26,985 --> 00:16:29,365 But I feel like the, actually I haven't even mentioned the price. 239 00:16:29,505 --> 00:16:32,865 I don't know if you've noticed, but I haven't even mentioned the price of Bitcoin this episode. 240 00:16:33,185 --> 00:16:36,425 I mentioned that where it's gotten to a few times, but I haven't mentioned what the current price is. 241 00:16:36,625 --> 00:16:40,245 You know, just not really the focus. It's more explaining why we're seeing the 242 00:16:40,245 --> 00:16:41,405 price action this episode. 243 00:16:41,785 --> 00:16:45,165 But when we get to the state of the network, I'll get to the price as I record. 244 00:16:45,585 --> 00:16:49,525 He goes on to say, I just remembered you asked last week what was some of the most important things. 245 00:16:49,605 --> 00:16:52,385 So I wanted to make sure I answered, but my stats were where my mouth is. 246 00:16:52,525 --> 00:16:54,105 I would love longer episodes. 247 00:16:54,265 --> 00:16:58,165 Truly, I cannot get enough of TWIB. You have the best Bitcoin content that is 248 00:16:58,165 --> 00:17:00,945 consistently high quality. I don't care how you do it. Every episode is a banger. 249 00:17:02,825 --> 00:17:05,805 This show and Broken Money opened my eyes and changed my life for the better. 250 00:17:06,045 --> 00:17:09,165 I only know about Broken Money because you recommend episode one, I believe. 251 00:17:09,405 --> 00:17:12,605 If Twib was as long as the LUP member feed, I'd probably still be into it. 252 00:17:12,725 --> 00:17:14,925 More than anything, the point is I wanted to boost it across. 253 00:17:15,085 --> 00:17:16,605 Whatever you do, just please don't go shorter. 254 00:17:17,065 --> 00:17:19,945 What really is driven by the content, but message received. 255 00:17:21,605 --> 00:17:25,365 Also, thank you for sending some stats to our artist. Your support, 256 00:17:25,625 --> 00:17:30,445 along with others, put One Night from Daddy Nat at the top of the podcast index charts. 257 00:17:31,269 --> 00:17:33,889 So thank you very much for that. It was really nice to see that. 258 00:17:33,989 --> 00:17:37,329 Because that song's been out for a minute. So it's nice to see it get to number one. 259 00:17:38,389 --> 00:17:42,489 Ready, one, take four, comes in with 30,000 sets. 260 00:17:43,369 --> 00:17:46,209 And you know what? I think there might be some Froot Loops in that drawer. 261 00:17:46,369 --> 00:17:49,029 Oh my God, this drawer is filled with Froot Loops. I thought so. 262 00:17:49,389 --> 00:17:53,969 I've been MIA for a while due to, you know, live stuff. So I'm catching up here 263 00:17:53,969 --> 00:17:56,829 with some value. Thanks for the great content, as always. 264 00:17:57,069 --> 00:18:00,949 Thank you, Ready. I was missing you. And it is nice to hear you and have you check in. 265 00:18:01,349 --> 00:18:04,589 I hope everything's going all right, and nice to have you back on board. 266 00:18:05,269 --> 00:18:08,749 Wine Eagle comes in with 25,000 sats. Just pump the brakes right there. 267 00:18:08,889 --> 00:18:12,649 Oh, it's six boosts, buddy. It is six boosts. Let's hear it good, buddy. 268 00:18:12,849 --> 00:18:15,249 All right. So it's a bunch of no messages. 269 00:18:16,069 --> 00:18:20,229 There's no messages in there, but a bunch of boosts from Breeze. Thank you, Wine Eagle. 270 00:18:20,509 --> 00:18:22,929 It's nice to know you're still out there. After stirring the pot, 271 00:18:23,049 --> 00:18:25,029 it's good to hear from you. I appreciate that value. 272 00:18:25,549 --> 00:18:28,689 Mirror Mortals Podcast. It's been a long time since I've heard from them. 273 00:18:28,689 --> 00:18:32,169 Is in with a row of ducks, 2,222 sats. 274 00:18:33,869 --> 00:18:39,289 Oh, I do think the price talk is, very briefly, around the fun meme numbers and whatnot. 275 00:18:39,469 --> 00:18:42,429 Kind of boring, useless for a bunch of us, though, because, you know what, 276 00:18:42,489 --> 00:18:44,889 our price is denominated in Australian dollars. 277 00:18:45,709 --> 00:18:48,689 Do you actually call it dollars? Australian dollars? 278 00:18:49,629 --> 00:18:53,089 He goes on to say, oh, and I had a chat with Brian of London about Hive a couple 279 00:18:53,089 --> 00:18:55,229 of years ago, where he talks about the history in Takeover. 280 00:18:55,809 --> 00:18:58,709 Wouldn't you believe it? it involves Mr. Squeaky Clean, Justin's son. 281 00:18:59,409 --> 00:19:03,329 Really? Really? Okay, I'll have to dig that up. Thanks, mere mortals. 282 00:19:03,429 --> 00:19:06,829 And it's great to hear from you. Hope things are going well. Appreciate that. 283 00:19:07,349 --> 00:19:10,969 Grounded Grid comes in with 3,600 sats. 284 00:19:12,029 --> 00:19:15,289 I have a question about the actual size of the blockchain on disk. 285 00:19:15,529 --> 00:19:19,769 I'm putting together a Bitcoin node and I actually had to buy disk. 286 00:19:20,009 --> 00:19:23,269 The blockchain is huge and seems to be growing every day. 287 00:19:23,449 --> 00:19:27,189 Do you ever see the storage space required becoming a cost-prohibitive barrier 288 00:19:27,189 --> 00:19:30,469 for the general public and hosting. Has anyone discussed this already? 289 00:19:30,929 --> 00:19:35,829 Grounded Grid, you're kind of getting at part of the core argument of the block size war. 290 00:19:36,149 --> 00:19:40,389 And when you increase the size of the block size, you make it harder and harder 291 00:19:40,389 --> 00:19:43,789 for folks to participate. And that was one of the arguments for keeping the block sizes smaller. 292 00:19:44,566 --> 00:19:47,506 Now, I know initially, especially when it's syncing, it seems massive. 293 00:19:47,986 --> 00:19:50,606 But you know, man, I've got like three nodes that I run. 294 00:19:51,426 --> 00:19:57,306 And over time, the disk is, I'd say it's probably only increased by 100 gigs or so in the two years. 295 00:19:57,846 --> 00:20:01,306 Maybe 200. I haven't really followed it super closely. For all of them, 296 00:20:01,366 --> 00:20:02,726 I just allocated two terabytes. 297 00:20:03,006 --> 00:20:05,966 And I don't think any of them are over a terabyte yet. 298 00:20:06,226 --> 00:20:11,306 So it kind of depends on your perspective, right? Because it's a worldwide ledger for Bitcoin. 299 00:20:11,866 --> 00:20:14,486 So it's going to be pretty busy. It's going to have a lot of stuff in there. 300 00:20:14,566 --> 00:20:18,566 It's kind of amazing. It works like it does. But tell me what you're seeing. 301 00:20:19,106 --> 00:20:22,706 Maybe you got something unusual going on. I don't know. I don't know. 302 00:20:22,906 --> 00:20:25,246 But appreciate the boost. Thank you very much. 303 00:20:25,886 --> 00:20:29,886 Listener Jeff comes in with 12,100 sats. Oh, this is Cajun spicy. 304 00:20:30,226 --> 00:20:33,306 Seeing the Bitcoin price spike always has me getting a little bit of FOMO. 305 00:20:33,446 --> 00:20:35,126 I've always thought, damn, I should have bought more. 306 00:20:36,246 --> 00:20:40,026 Yeah, well, man, that's the thing about Bitcoin. Realistically, 307 00:20:40,026 --> 00:20:43,906 I spent what was in my budget. The show has helped me bake or break, 308 00:20:44,026 --> 00:20:47,026 I'm sorry, from that kind of thinking as I understand money and what Bitcoin 309 00:20:47,026 --> 00:20:49,206 will do for me now in the long term. So thank you. 310 00:20:49,746 --> 00:20:52,766 If I don't want to exorbitate price spikes every news week, I don't want to, 311 00:20:52,846 --> 00:20:55,106 if the price doesn't get exorbitate and spike every news week, 312 00:20:55,226 --> 00:20:58,666 but I think it would be fun to have some of that reported in the show for historical reasons. 313 00:20:58,886 --> 00:21:01,846 Then maybe put it in the show notes the weeks you don't talk about it. 314 00:21:02,046 --> 00:21:03,446 Huh, that's an interesting idea. 315 00:21:03,866 --> 00:21:05,886 Those of us who really want to know it could just look at the show notes for. 316 00:21:05,886 --> 00:21:07,926 That week. Or we have widgets on our phone already. 317 00:21:09,686 --> 00:21:13,746 Yeah, well put. But, yeah, I think the state of the network was kind of a nice 318 00:21:13,746 --> 00:21:15,486 compromise at the end just so we have it in there. 319 00:21:15,666 --> 00:21:19,386 So when we're looking back at these episodes, right? I mean, think about this now. 320 00:21:19,466 --> 00:21:23,446 If I had been doing this, now I almost regret it. Now that we're over 80K, 321 00:21:24,126 --> 00:21:30,106 I kind of wish when things were like at like 30, you know, I wish that I was 322 00:21:30,106 --> 00:21:32,486 putting that in the show because that was just a few months ago. 323 00:21:32,846 --> 00:21:38,266 Oh, well, about a year ago, you know? So it already would feel kind of wild 324 00:21:38,266 --> 00:21:40,666 just if you started with episode one right now. 325 00:21:40,966 --> 00:21:43,546 It'd be kind of interesting to have that information. But I agree, 326 00:21:43,646 --> 00:21:47,106 you wouldn't want every show about it. My God, it wouldn't matter, be irrelevant. 327 00:21:48,806 --> 00:21:52,626 Thank you, PJ. Appreciate it. Vitar's back with a row of ducks. 328 00:21:53,546 --> 00:21:56,446 Man, I feel like I'm hearing from some folks that we haven't heard from from 329 00:21:56,446 --> 00:21:57,786 a long time, and that feels real good. 330 00:21:58,529 --> 00:22:02,449 He has nothing really to say other than he sends me a peace sign. 331 00:22:02,649 --> 00:22:05,509 Live long and prosper. Thank you, Patard. It's great to hear from you. 332 00:22:06,169 --> 00:22:09,929 Mooder Knight's back. Also, another long-timer I haven't heard from him for 333 00:22:09,929 --> 00:22:14,129 a minute with 10,101 sats. Just pump the brakes right there. 334 00:22:14,389 --> 00:22:18,009 Boy, they are doing a lot with mayo these days. And he sent me in. 335 00:22:18,169 --> 00:22:21,309 Oh, right. For the binary boost. Let's give this a little. This was a little long. 336 00:22:28,089 --> 00:22:30,689 0101100101 what does it mean it's just gibberish, 337 00:22:37,389 --> 00:22:41,969 see that's pretty good but it's a little long and the problem is with the bit 338 00:22:41,969 --> 00:22:45,849 you could cut it down the only reason the gag works is because bender sees the 339 00:22:45,849 --> 00:22:48,169 binary number in the mirror so it's a visual gig, too. 340 00:22:48,629 --> 00:22:52,469 So it's kind of tricky, you know, if you think about it. But that might almost 341 00:22:52,469 --> 00:22:53,909 work. That's now under consideration. 342 00:22:54,149 --> 00:22:56,569 Thank you, Moon Knight. I still think we could do better for a binary boost 343 00:22:56,569 --> 00:22:58,289 sound effect if anybody has some suggestions. 344 00:22:58,549 --> 00:23:01,209 But that one's high up there on the list. Appreciate the boost, too. 345 00:23:01,749 --> 00:23:07,529 Orange Bill Lawyer's back. Orange Bill Lawyer 25 is back with $3,833. 346 00:23:07,929 --> 00:23:11,469 The traders love the vol. So I'm starting to use Fold for bill pay as well. 347 00:23:11,569 --> 00:23:14,649 What are your thoughts on going on a Bitcoin standard by putting at least a 348 00:23:14,649 --> 00:23:18,009 portion of your direct deposit into Bitcoin through Fold and then selling it 349 00:23:18,009 --> 00:23:18,989 when your bill comes due. 350 00:23:19,269 --> 00:23:22,669 Not sure if they have the best exchange rate, but they do offer zero trading fee. 351 00:23:22,869 --> 00:23:27,489 Well, I like it until the selling part because every transaction you sell on 352 00:23:27,489 --> 00:23:32,029 Bitcoin, every Bitcoin you sell with Fold is going to be a KYC taxable event. 353 00:23:32,869 --> 00:23:36,929 So, you know, it kind of sucks because you're basically putting a premium after. 354 00:23:37,269 --> 00:23:40,789 It depends on your state, right? Here in Washington state, you can sell a certain 355 00:23:40,789 --> 00:23:43,869 amount of Bitcoin before you hit a capital gains threshold and then you got 356 00:23:43,869 --> 00:23:46,429 to start paying, like, I don't know. I don't know what it is, 357 00:23:46,509 --> 00:23:48,889 like 47% or whatever it is, 30% or whatever. 358 00:23:49,429 --> 00:23:52,909 You'd have to know what your local state law is on cap gains and when it kicks 359 00:23:52,909 --> 00:23:55,469 in to know if that would actually be a viable solution. 360 00:23:55,669 --> 00:23:59,389 But I do think they offer great, great deals for buying Bitcoin. 361 00:24:00,029 --> 00:24:06,489 I'm going to investigate Morsky's. They're selling Bitcoin if that ever kind of comes up for me. 362 00:24:06,929 --> 00:24:09,929 But right now, I'm basically just using it to stack sats with bill pay. 363 00:24:10,549 --> 00:24:13,829 And when you use the debit card, you also get sats back. So that's the fold card. 364 00:24:14,369 --> 00:24:17,209 I'll put a link. I'll put my affiliate link in the show notes this week. 365 00:24:17,289 --> 00:24:20,569 Let me write that down because I think it's something to experiment with because 366 00:24:20,569 --> 00:24:24,029 I think as the price of Bitcoin gets higher, 367 00:24:24,329 --> 00:24:30,509 I think it behooves us to come up with ways to low-key earn sats because just 368 00:24:30,509 --> 00:24:33,849 like the Bitcoin fountain, which used to give like five Bitcoin away just for 369 00:24:33,849 --> 00:24:35,549 going to a web page, which I got once, 370 00:24:36,469 --> 00:24:41,269 these kind of sat back deals will eventually go away when Bitcoin gets too scarce and too expensive. 371 00:24:41,269 --> 00:24:46,289 So you can do things like the fold card, and you can stack sats with transactions and bill pay. 372 00:24:46,529 --> 00:24:50,249 You can do things like Fountain FM, and you can earn sats while you listen, 373 00:24:50,329 --> 00:24:54,549 and you can get sats by people liking your comments. You could use sites like Stacker News. 374 00:24:55,648 --> 00:24:59,108 When you get involved there and you post good content and you interact with 375 00:24:59,108 --> 00:25:01,908 folks in a way that is beneficial to the community, people zap you. 376 00:25:02,088 --> 00:25:07,028 You could get on Noster and you could post great content on Noster and people will zap you. 377 00:25:07,488 --> 00:25:10,928 You could create a podcast. And if you make a great podcast, people will boost you. 378 00:25:11,088 --> 00:25:15,728 There are ways to kind of stack sats that are not like going to make you a millionaire. 379 00:25:16,268 --> 00:25:20,048 But if you're in it for the long haul and you're patient and you believe in 380 00:25:20,048 --> 00:25:25,408 Bitcoin's potential long term, there are low key ways today to earn those sets. 381 00:25:25,588 --> 00:25:30,168 Gemini, I don't like them as much, but the Gemini exchange also offers a MasterCard or something. 382 00:25:30,308 --> 00:25:33,908 I think it is one of their options is sats back on your purchases. 383 00:25:34,068 --> 00:25:36,448 So if you have some large purchases that you need to put on a credit card, 384 00:25:36,908 --> 00:25:38,768 a Gemini credit card will give you sats back. 385 00:25:38,928 --> 00:25:42,388 The fold card is a debit card. So if you're doing debit transactions, 386 00:25:42,508 --> 00:25:45,328 you have to transfer money in there. You know, so what I've done is I've set 387 00:25:45,328 --> 00:25:50,388 up an automatic deposit from my regular bank account and it sends over the amount, 388 00:25:50,788 --> 00:25:53,548 well, actually twice a month, it sends over what I need to cover my bills. 389 00:25:53,708 --> 00:25:56,928 And then all of my bills come out of my Fold account and then I get sats back 390 00:25:56,928 --> 00:25:58,108 for every bill that I pay. 391 00:25:58,348 --> 00:26:03,128 It's not a lot, you know, it could be like a $400 bill and I'll get like 1,800 392 00:26:03,128 --> 00:26:04,628 sats, right, or 2,000 sats. 393 00:26:04,888 --> 00:26:08,468 But it's worth it to me because I'm sort of trying, I also use Fountain, 394 00:26:08,548 --> 00:26:12,628 I also use Stacker News, right? I'm trying to low key stack sats as I can because 395 00:26:12,628 --> 00:26:16,468 I can only throw so much fiat at Bitcoin and I'm getting less and less sats for it. 396 00:26:16,628 --> 00:26:20,188 So I'm trying to increase my overall yield of sats. And these are just ways 397 00:26:20,188 --> 00:26:22,508 of doing that. Or you could put out value for value music. 398 00:26:22,788 --> 00:26:26,468 Orange Pill Lawyer also sent 500 sats to our artist last week. 399 00:26:26,928 --> 00:26:30,488 Thank you for that. I really appreciate it. Ace Ackerman's back with Aeroa Ducks. 400 00:26:31,868 --> 00:26:35,448 Here's a monthly review of. Oh, he says, you know, a monthly review of the Bitcoin 401 00:26:35,448 --> 00:26:40,648 price action could be adequate. Is this a rebuke of, I'm asking Ace, 402 00:26:40,928 --> 00:26:45,328 is this a rebuke of the state of the network at the end of the show? Do we not like that? 403 00:26:46,008 --> 00:26:50,248 Or are you saying just in general, like if I was just for price talk? 404 00:26:50,708 --> 00:26:53,048 I'd like to know. Because I think the state of the network, because it's only 405 00:26:53,048 --> 00:26:55,508 like, you know, 20, 30 seconds, seems like a pretty good compromise. 406 00:26:55,728 --> 00:26:58,108 But perhaps these last two boosts are actually a rebuke. 407 00:26:58,988 --> 00:27:02,728 Discuss amongst yourselves. I'd like to know. How it comes, and thank you for 408 00:27:02,728 --> 00:27:06,508 the boost, how it comes in with 10,000 sats. It's over 9,000! Yeah. 409 00:27:07,308 --> 00:27:10,408 On Price Talk, I don't think we should shy away from it. I know some people 410 00:27:10,408 --> 00:27:14,648 follow it for the gains, but I follow it as a march of progress. 411 00:27:14,648 --> 00:27:16,568 If not the dollar price, then something else. 412 00:27:16,688 --> 00:27:19,988 Eggs, homes, oil, dollar just seems like the clearest point in history. 413 00:27:20,288 --> 00:27:23,488 I also think the SATs to dollar ratio is extremely interesting. 414 00:27:24,411 --> 00:27:26,711 I think that's a good one, too. But you're right. Oil, you know, 415 00:27:26,791 --> 00:27:29,171 price it in oil could be interesting. That's not a bad way to go. 416 00:27:29,591 --> 00:27:32,171 Thanks, Halleck. Although I think oil is going to be going down. 417 00:27:32,611 --> 00:27:36,051 Energy, I think, in general, investments are going to probably take a bit of 418 00:27:36,051 --> 00:27:38,391 a hit if the U.S. is going to crank up the oil machine. 419 00:27:38,671 --> 00:27:43,791 Right? Like, I have zero plays outside of Bitcoin and Bitcoin-adjacent stuff, 420 00:27:43,911 --> 00:27:46,891 except I have a little tiny bit of a uranium ETF. 421 00:27:47,291 --> 00:27:51,331 Because I thought, you know, nukes, Bitcoin mining, AI, uranium, 422 00:27:51,471 --> 00:27:54,071 right? So like a couple of years ago, where I saw where things were going, 423 00:27:54,171 --> 00:27:57,451 I picked up a tiny bit of a uranium ETF. Ever since Trump won, that thing's down. 424 00:27:58,291 --> 00:28:01,251 So the only thing I've got that's up is Bitcoin. Should have just stuck with 425 00:28:01,251 --> 00:28:05,171 the Bitcoin. Gene Bean's back, and he's got 2,048 sats. 426 00:28:07,331 --> 00:28:10,951 Hello, Gene Bean. Nice to see you, another long-timer. 427 00:28:12,331 --> 00:28:16,771 Do you have any experience with IRA based on Bitcoin? I was reading over at 428 00:28:16,771 --> 00:28:19,991 Investopedia, and I'd like to get your take. So not personally, 429 00:28:20,151 --> 00:28:24,031 but I do know that there are a couple of really good resources around this. 430 00:28:24,111 --> 00:28:26,311 Unchained Capital has some good stuff. 431 00:28:26,511 --> 00:28:29,351 SWAN has some good information around Bitcoin, IRAs. 432 00:28:29,871 --> 00:28:32,051 Rivermite 2, let me check real quick for you. 433 00:28:33,111 --> 00:28:36,411 Yes, they do. In fact, this is the one I've actually, now that I've seen this, 434 00:28:36,491 --> 00:28:39,171 I have read through this one before. I'm going to put a link to this one in 435 00:28:39,171 --> 00:28:40,091 the show notes for you, Gene. 436 00:28:40,751 --> 00:28:44,731 This is a way that a lot of listeners go because I've asked before and they 437 00:28:44,731 --> 00:28:49,411 like this because of essentially the tax consequences that you can later on 438 00:28:49,411 --> 00:28:52,351 in life when you're ready to retire, from my understanding, from what's been explained to me. 439 00:28:52,511 --> 00:28:55,611 You can get access to your Bitcoin without having to take that capital gains 440 00:28:55,611 --> 00:28:56,711 that I was just talking about. 441 00:28:57,171 --> 00:29:00,571 Very, very interesting. So I will put a link to River's document on that. 442 00:29:00,671 --> 00:29:01,891 I think it's a great starting spot. 443 00:29:02,251 --> 00:29:05,731 And then also I think I read through Unchained like a year ago or so. 444 00:29:05,731 --> 00:29:10,691 So there's a couple of companies out there that are just set up to help you do that. 445 00:29:11,251 --> 00:29:15,251 If that's your thing, it could always be a way to go. I don't know, man. 446 00:29:15,651 --> 00:29:19,911 I think for me, I want my Bitcoin available to be used as collateral. 447 00:29:20,051 --> 00:29:22,851 So I don't know if an IRA that would be possible. 448 00:29:23,291 --> 00:29:26,211 That's something I'd love people to chime in about. But thank you, 449 00:29:26,271 --> 00:29:27,651 GMB. Nice to hear from you. 450 00:29:27,911 --> 00:29:31,631 Thank you, everybody who boosted it. And that's our 2000 and above boost. 451 00:29:31,751 --> 00:29:33,931 That's kind of where my cutoff is just for runtime on the show. 452 00:29:33,931 --> 00:29:36,751 But I read and keep all of them. 453 00:29:37,051 --> 00:29:41,891 And a special shout out to everybody who streams sets. There were 44 of you this week together. 454 00:29:42,131 --> 00:29:47,391 You collectively stacked 43,362 sets just by streaming. 455 00:29:47,771 --> 00:29:51,491 As you listen, when you bring that together with all of our boosters, we'll be right back. 456 00:29:52,084 --> 00:29:56,164 This is actually really not bad at all, especially considering it's an early show this week. 457 00:29:56,384 --> 00:30:00,884 The show stacked 265,909 sats. 458 00:30:04,364 --> 00:30:07,204 I'm pretty happy with that, considering we're out early. Thank you, 459 00:30:07,324 --> 00:30:08,544 everybody, for supporting the show. 460 00:30:08,684 --> 00:30:12,564 I work really hard on it, and the value we get back directly motivates me. 461 00:30:12,604 --> 00:30:14,684 I'll tell you what, on the weeks we don't have a very good week, 462 00:30:14,684 --> 00:30:16,584 I'm thinking, why did I work so hard? 463 00:30:16,844 --> 00:30:18,984 And on these weeks, I'm like, heck yeah, they appreciate it. 464 00:30:19,044 --> 00:30:20,164 They feel it. They get it. They're 465 00:30:20,164 --> 00:30:24,144 with me. And it does create a sense of community around a show as well. 466 00:30:24,264 --> 00:30:26,764 And it's something I think the podcasters don't think about. 467 00:30:26,944 --> 00:30:30,384 This is a young show, and there's already such a sense of community around it 468 00:30:30,384 --> 00:30:32,484 because of your support and because of your messages. 469 00:30:32,584 --> 00:30:35,824 If you'd like to boost the show, send a little value back our way. 470 00:30:35,984 --> 00:30:40,704 You can do it with a podcast app like Fountain FM or Podverse or Cast-O-Matic 471 00:30:40,704 --> 00:30:44,004 or many others listed at podcastapps.com. 472 00:30:44,104 --> 00:30:47,264 They're all part of the podcasting 2.0 revolution. So when you get one of those 473 00:30:47,264 --> 00:30:52,564 new apps, not only do you get to boost, but you also get chapters and a transcript for this show. 474 00:30:52,664 --> 00:30:56,364 We could do fancy things like I could insert images and links into the chapters 475 00:30:56,364 --> 00:30:59,764 when it's absolutely necessary. I don't do it often, but I do it from time to time. 476 00:30:59,984 --> 00:31:03,024 And then additionally, if we ever have like a live event or anything like that, 477 00:31:03,104 --> 00:31:06,344 you don't have to worry about missing it because it'll be right there in your podcast app of choice. 478 00:31:06,664 --> 00:31:09,924 And of course, that boost button is there, too. And it's all an open source, 479 00:31:10,084 --> 00:31:14,284 open standard driven by a community of passionate people and developers using 480 00:31:14,284 --> 00:31:18,204 sats to move value across the network. Thank you, everybody who participates. 481 00:31:18,424 --> 00:31:21,444 Really, really appreciate it. And give yourself a nice round of applause, too. 482 00:31:21,784 --> 00:31:25,224 It's nice to hear from some of you long-timers out there. Thanks for checking in. 483 00:31:26,014 --> 00:31:30,594 Guys you guys okay i got some i got some stuff i want to talk about with adopting bitcoin. 484 00:31:34,254 --> 00:31:39,894 Adopting bitcoin in el salvador is going on right now and i went to the conference 485 00:31:39,894 --> 00:31:44,634 last year el salvador being the first country to adopt bitcoin i just i wanted 486 00:31:44,634 --> 00:31:48,714 to go see it you know i just i just really wanted to go i wanted to see the 487 00:31:48,714 --> 00:31:52,674 state of bitcoin adoption were people really using it or was it all hype? 488 00:31:52,874 --> 00:31:55,334 And I wanted to see just the state of the country. 489 00:31:55,594 --> 00:31:59,174 I'd heard so much about Pichelli and the crime and the crackdown. 490 00:31:59,394 --> 00:32:01,714 I wanted to see how things really were. 491 00:32:02,474 --> 00:32:08,574 And I also wanted to go to a conference in a country like El Salvador. 492 00:32:08,894 --> 00:32:13,734 You know, like I've always gone in rich Western nations. What is a conference 493 00:32:13,734 --> 00:32:16,134 like in El Salvador? Well, it was amazing. 494 00:32:16,414 --> 00:32:20,954 The pre-party that they had for the event folks because the Bitcoin dad and 495 00:32:20,954 --> 00:32:24,174 I hosted the open source track was absolutely fantastic. 496 00:32:24,494 --> 00:32:29,474 You know, they brought a crew out that was just cooking stuff over fire and just delicious. 497 00:32:29,674 --> 00:32:31,674 And then the actual conference itself was at a beautiful hotel, 498 00:32:31,974 --> 00:32:33,154 like anywhere in the West. 499 00:32:33,914 --> 00:32:37,534 Absolutely gorgeous. And I got to meet people who had no interest in Bitcoin 500 00:32:37,534 --> 00:32:42,614 because you travel around, you know, and everything's by Uber and stuff like that or whatever. 501 00:32:42,694 --> 00:32:45,674 And then you meet people that are just learning Bitcoin. 502 00:32:45,854 --> 00:32:48,974 And, you know, once they realized we knew Bitcoin, they had all kinds of questions for us. 503 00:32:49,054 --> 00:32:53,494 I think the ones that impacted me the most is I met some El Salvadorians who 504 00:32:53,494 --> 00:32:59,574 their entire for the history of their entire family for generations now going back like 50 plus years. 505 00:33:00,727 --> 00:33:04,347 Never had any savings, never any life savings to their family's name. 506 00:33:04,707 --> 00:33:07,587 And now with Bitcoin, for the first time ever, they're actually saving money. 507 00:33:08,047 --> 00:33:14,347 But my personal biggest moment with Bitcoin in El Salvador was when I was buying 508 00:33:14,347 --> 00:33:15,767 breakfast one day of the conference. 509 00:33:15,907 --> 00:33:18,607 First of all, it was like a small breakfast, but it cost, I think, 510 00:33:18,647 --> 00:33:20,727 if I recall, exactly a row of ducks. 511 00:33:20,927 --> 00:33:25,507 I think, if I recall, it was 2,222 sats. 512 00:33:26,507 --> 00:33:29,807 So that was pretty incredible. I was like, wow, breakfast for a row of ducks. 513 00:33:29,807 --> 00:33:31,767 Some booster just bought me breakfast. Thank you. 514 00:33:32,087 --> 00:33:39,187 But what was really neat about it is I paid from my self-hosted node that was 515 00:33:39,187 --> 00:33:44,147 back in Seattle to their self-hosted node in El Salvador all over Lightning, 516 00:33:44,207 --> 00:33:46,007 and it happened instantly. 517 00:33:46,007 --> 00:33:51,567 And that moment right there really won Lightning a lot of good favor with me, at least. 518 00:33:51,687 --> 00:33:54,887 I know there's been more and more like kind of anti-Lightning sentiment online. 519 00:33:55,507 --> 00:34:01,607 That moment where I used my self-hosted node and I paid to their self-hosted node and it all worked. 520 00:34:02,147 --> 00:34:06,627 It made me realize that our solution, when we go to a point of sales type experience, 521 00:34:06,807 --> 00:34:12,367 it really does need to be better and faster than what Visa and MasterCard can offer today. 522 00:34:12,747 --> 00:34:16,627 And the reality is, Lightning does make that possible right now. 523 00:34:17,247 --> 00:34:19,567 And I mean, there's other things out there. I'm sure you could do with Fat of 524 00:34:19,567 --> 00:34:21,227 Mint or probably even Liquid. Well, maybe. 525 00:34:21,687 --> 00:34:25,867 But Lightning was so incredible. And the fact that all that worked was a pretty unique experience. 526 00:34:26,027 --> 00:34:30,607 So I miss being there this year. And I hope everybody's having a great time at Adopting Bitcoin. 527 00:34:30,480 --> 00:34:40,560 Music. 528 00:34:40,987 --> 00:34:43,947 Well speaking of the lightning network it's time for some project 529 00:34:43,947 --> 00:34:51,007 updates and our first one is zeus wallet 0.9.2 and this was the wallet i was 530 00:34:51,007 --> 00:34:56,107 using in el salvador to do that transaction and now they have added improved 531 00:34:56,107 --> 00:35:01,087 bolt 12 support and improved external hardware wallet and signer support. 532 00:35:01,287 --> 00:35:04,387 I think one of the latest cold cards is now added in there. 533 00:35:04,527 --> 00:35:10,047 And so you can add a physical hardware wallet to the Zeus app on your Android 534 00:35:10,047 --> 00:35:14,227 device, which the Zeus app is capable of being an entire lightning node in your 535 00:35:14,227 --> 00:35:18,487 pocket if you need, or it can manage an existing node that you run somewhere else. 536 00:35:18,927 --> 00:35:24,127 They are really, really pushing this app forward. And depending on how you use 537 00:35:24,127 --> 00:35:26,227 it, its simplicity can almost be deceiving. 538 00:35:26,947 --> 00:35:31,567 Zeus is the absolute star of the lightning on-chain world. 539 00:35:31,727 --> 00:35:34,927 You can go from full independent node to operating with something that's already 540 00:35:34,927 --> 00:35:36,167 existing, like an AlbiHub. 541 00:35:36,889 --> 00:35:44,389 So Zeus Wallet 0.9.2 is out. Also, RoboSats version 0.72 Alpha is out. 542 00:35:44,589 --> 00:35:48,449 And yes, it's an alpha, but there's something really neat in here that I think you should know about. 543 00:35:48,649 --> 00:35:53,609 If you're not familiar, RoboSats is a lightning-based solution to anonymously 544 00:35:53,609 --> 00:35:57,149 non-KYC buy Bitcoin and sell your Bitcoin. 545 00:35:57,149 --> 00:36:05,569 And 072 Alpha lets users test the Noster global order books by enabling the 546 00:36:05,569 --> 00:36:07,089 option in the configuration tab. 547 00:36:07,269 --> 00:36:11,409 It's only available in the web version, but it'll be in the mobile app in upcoming releases. 548 00:36:11,989 --> 00:36:19,249 So you can use sort of the decentralized aspect of Noster with RoboSats to create a global order book. 549 00:36:19,389 --> 00:36:24,129 And to me, that is brilliant. They're also working on future implementations 550 00:36:24,129 --> 00:36:29,989 for payouts and claiming your sats using Nostra identities. It's really exciting stuff. 551 00:36:30,289 --> 00:36:33,629 And RoboSats gets a big plus one from the show here. 552 00:36:33,789 --> 00:36:39,469 And then last, oh, not quite last, almost last, Fountain, the Fountain podcast app. 553 00:36:39,629 --> 00:36:42,989 Version 1.1.6 is now live for iOS and Android. 554 00:36:43,329 --> 00:36:47,349 And many, many bug fixes are in here. They're using a new audio API, 555 00:36:47,529 --> 00:36:51,149 which is going to save battery life. And there's been multiple performance upgrades 556 00:36:51,149 --> 00:36:55,189 throughout the app, and nested navigation has been added as well. 557 00:36:55,349 --> 00:36:59,529 It's a banger of a Fountain release. So if you haven't tried Fountain for a 558 00:36:59,529 --> 00:37:04,309 minute or you tried and bounced off, 1.1.6 is in here, and a lot of the bugs 559 00:37:04,309 --> 00:37:08,269 that JB members boosted in have been incorporated and fixed in this release. 560 00:37:08,429 --> 00:37:16,169 And now, last but not least, our Canadian listeners got something really special. 561 00:37:16,869 --> 00:37:22,029 The Bitcoin Well has added a pretty great feature. You can now buy Bitcoin directly 562 00:37:22,029 --> 00:37:25,409 over the Lightning Network into your Bitcoin Well account. 563 00:37:25,729 --> 00:37:30,169 Cheaper transactions, faster, private. It's really slick. 564 00:37:30,529 --> 00:37:33,129 Basically, the core of it is faster transactions and lower fees. 565 00:37:33,649 --> 00:37:37,709 Bitcoinwell.com, I wish they had all of their feature set in the U.S. 566 00:37:37,769 --> 00:37:42,249 Because some of the stuff they offer is truly groundbreaking integration with 567 00:37:42,249 --> 00:37:47,569 Lightning from like all kinds of features that from in Canada that we just don't 568 00:37:47,569 --> 00:37:48,669 get access to here in the U.S. 569 00:37:48,869 --> 00:37:51,269 And they're adding this, and I'm hoping some of this comes over here. 570 00:37:51,429 --> 00:37:54,069 But if you're a Canadian listener and you're looking for a place to get your 571 00:37:54,069 --> 00:37:57,989 Bitcoin, it's looking like Bitcoin, well, is the place to do it. 572 00:37:58,149 --> 00:38:02,029 And we'll have links to the update and the new lightning features in the show notes. 573 00:38:09,869 --> 00:38:14,749 Okay, so I'm going to play a clip of Barbara Goldstein, and you can just tell 574 00:38:14,749 --> 00:38:16,169 she's worth money from that name. 575 00:38:16,309 --> 00:38:18,709 She's a managing partner at R360. 576 00:38:19,560 --> 00:38:27,380 R360 is a firm that only takes clients that are worth multiple millions of dollars, right? 577 00:38:27,500 --> 00:38:32,640 We're talking the richest of the richest, not your 100Kers, not like your 10 578 00:38:32,640 --> 00:38:35,160 millionaires, but like your multiple hundred millionaires. 579 00:38:35,900 --> 00:38:42,680 That's what their firm deals with. And she's specifically an envoy to the ultra-wealthy 580 00:38:42,680 --> 00:38:49,040 community. And it appears the ultra-wealthy community is preparing for Bitcoin with open arms. 581 00:38:49,560 --> 00:38:52,560 On Trump's victory. And now let's find out what wealthy investors think with 582 00:38:52,560 --> 00:38:56,500 Barbara Goodstein, managing partner at R360, an ultra-wealthy community for 583 00:38:56,500 --> 00:38:58,900 centi-millionaires. Barbara, good morning. Great to have you here. 584 00:38:59,400 --> 00:39:01,520 So last time you were here, you wore red. You said it was by accident. 585 00:39:01,660 --> 00:39:05,440 This time you said it was on purpose. So is that a sign of what these centi-millionaires 586 00:39:05,440 --> 00:39:06,480 think about this election? 587 00:39:06,740 --> 00:39:11,000 Well, that is a sign that Trump won the election, and we think that there is a lot of big news coming. 588 00:39:11,160 --> 00:39:15,460 We had our market opportunities and risk meeting last week, and there's a lot 589 00:39:15,460 --> 00:39:17,400 of upside from this win. All right. 590 00:39:17,500 --> 00:39:20,920 So these investors are excited about the win and obviously what it means going forward. 591 00:39:21,280 --> 00:39:24,640 One thing you say they're excited about is Bitcoin. So I mentioned to one of 592 00:39:24,640 --> 00:39:28,240 our earlier guests that BlackRock's Bitcoin ETF, it now has more assets under 593 00:39:28,240 --> 00:39:29,560 management than their gold ETF. 594 00:39:29,720 --> 00:39:32,580 Of course, we know gold is a safe haven. I know a lot of your investors, 595 00:39:32,700 --> 00:39:35,440 they hold gold as well. What's their sentiment when it comes to Bitcoin? 596 00:39:35,580 --> 00:39:37,580 And are they doing it directly or through ETF? 597 00:39:38,040 --> 00:39:42,320 We're very high on Bitcoin and we've been talking about Bitcoin for the past few years. 598 00:39:42,540 --> 00:39:46,200 We recommend doing it directly because you don't pay taxes if you're doing it 599 00:39:46,200 --> 00:39:47,560 directly. So that's a big difference. 600 00:39:47,580 --> 00:39:52,980 But we think that Bitcoin could become the next strategic reserve asset. 601 00:39:53,240 --> 00:39:56,800 So the country now holds two hundred thirty two thousand Bitcoin. 602 00:39:57,000 --> 00:40:00,720 We think that Trump could bump that up to over a million. You heard her. 603 00:40:01,080 --> 00:40:05,440 She's high on Bitcoin. The whole market's high on Bitcoin. But why? 604 00:40:05,880 --> 00:40:09,380 Why? Besides just the fact that it could hold a million, she thinks it could 605 00:40:09,380 --> 00:40:11,300 actually develop into something very substantial. 606 00:40:11,520 --> 00:40:15,600 To over a million. So you think it would replace what gold was back in the day 607 00:40:15,600 --> 00:40:18,880 as like there's going to be a quote unquote Bitcoin Fort Knox essentially. Exactly. 608 00:40:19,160 --> 00:40:21,940 We think there's going to be it's not going to replace. It's going to augment. 609 00:40:22,120 --> 00:40:22,940 So it will be incremental. 610 00:40:23,280 --> 00:40:34,320 Music. 611 00:40:35,242 --> 00:40:38,162 Let's take a look at the state of the network before we wrap up. 612 00:40:38,362 --> 00:40:44,542 It's an incredible one this week. As I record, the price of Bitcoin is $87,100. 613 00:40:45,702 --> 00:40:51,662 The price per sat is $1,148 to $1. 614 00:40:53,002 --> 00:40:58,302 That is a change since the last episode of 29.1% up. 615 00:40:58,902 --> 00:41:05,182 We're just currently 0.4% down from the all-time high. just below the all-time high. 616 00:41:05,502 --> 00:41:10,262 And we also appear to be reaching an all-time high of nodes on the network, at least recently. 617 00:41:10,542 --> 00:41:17,022 There are 19,572 reachable nodes on the network right now. 618 00:41:18,142 --> 00:41:22,082 The state of the Bitcoin network is very strong. 619 00:41:23,702 --> 00:41:30,442 Now, to wrap us up, I'm going to play a song that we first featured in episode 620 00:41:30,442 --> 00:41:32,202 12 of This Week in Bitcoin. 621 00:41:33,062 --> 00:41:37,562 But, you know, we had something really special happen. After last week's episode, 622 00:41:37,822 --> 00:41:41,842 you out there, you put One Night by Daddy Nat at the top of the podcast index 623 00:41:41,842 --> 00:41:44,362 charts, even though that song's been out for ages. 624 00:41:44,702 --> 00:41:47,622 That's just an amazing show of support for Value for Value music. 625 00:41:47,902 --> 00:41:51,022 And I thought maybe we could do that with another track. 626 00:41:51,502 --> 00:41:55,462 I'm about to re-feature a song that I played when it first came out, 627 00:41:55,642 --> 00:41:57,982 I think at the beginning of summer. 628 00:41:58,242 --> 00:42:01,162 I like it enough. I want to play it again and give it a little love, 629 00:42:01,302 --> 00:42:02,762 give it a little exposure. Thank you so much. 630 00:42:02,640 --> 00:44:52,946 Music.