1 00:00:00,017 --> 00:00:04,277 Bitcoin briefly surging to a new record high as investors bet that Donald Trump. 2 00:00:04,277 --> 00:00:08,497 Will deliver on his pro-crypto promises, especially with a Republican-controlled 3 00:00:08,497 --> 00:00:12,937 Senate behind him and after getting more than $25 million from crypto donors. 4 00:00:13,217 --> 00:00:16,537 Now, in terms of the market outlook, multiple analysts are expecting Bitcoin 5 00:00:16,537 --> 00:00:19,637 will hit $100,000 before Trump's inauguration, 6 00:00:19,797 --> 00:00:24,177 especially if he delivers on promises like launching a strategic national crypto 7 00:00:24,177 --> 00:00:29,157 stockpile with the $15 billion worth of Bitcoin that it already has on its books 8 00:00:29,157 --> 00:00:30,637 from asset seizures in Scott. 9 00:00:30,797 --> 00:00:35,697 Bitcoin now up 68% year to date after briefly hitting that new all-time high overnight. 10 00:00:36,240 --> 00:01:04,080 Music. 11 00:01:02,977 --> 00:01:05,897 Welcome in to episode 34 of This Week in Bitcoin. 12 00:01:07,077 --> 00:01:11,137 My name is Chris. Boy, Bitcoin sure had a great night, didn't it? 13 00:01:11,257 --> 00:01:12,797 It's having a great day, too. 14 00:01:13,057 --> 00:01:18,377 I've been following Bitcoin longer than two of my children have been alive, at least. 15 00:01:18,937 --> 00:01:24,497 And I can't believe how good the old coin's doing and what I'm seeing. at a high level. 16 00:01:25,477 --> 00:01:29,597 America just elected the most pro-crypto congress in history. 17 00:01:29,597 --> 00:01:33,257 And you can bet that's going to reverberate throughout the West. 18 00:01:34,805 --> 00:01:37,185 You know, we're really just entering a golden age for Bitcoin. 19 00:01:37,825 --> 00:01:44,965 As I record, Bitcoin just touched an all-time new high of 76,470 U.S. greenbacks. 20 00:01:45,765 --> 00:01:52,825 Over $200 billion has been added to the cryptocurrency market today on Wednesday, 21 00:01:53,085 --> 00:01:54,765 November 6th, as I'm recording. 22 00:01:55,165 --> 00:01:58,605 Crypto trading at all-time highs following Trump's victory. Mackenzie Segal 23 00:01:58,605 --> 00:02:01,405 is tracking the moves, which have been stunning. 24 00:02:01,525 --> 00:02:04,125 Mackenzie, this has been one at the center of the action. Yes, 25 00:02:04,265 --> 00:02:07,005 it has been, Sarah. It was a big night for the digital asset industry. 26 00:02:07,185 --> 00:02:11,465 With all coins surging higher as Bitcoin traded above $75,000 for the first 27 00:02:11,465 --> 00:02:14,745 time ever, investors are bullish that with a Republican-controlled Senate, 28 00:02:14,925 --> 00:02:19,305 Donald Trump will be able to swiftly deliver on his pro-crypto campaign promises. 29 00:02:19,605 --> 00:02:23,325 The big one, guys, is his pledge to fire SEC chair Gary Gensler. 30 00:02:23,325 --> 00:02:26,445 I think it's not just that. I think it's they expect him to spend, too. 31 00:02:26,805 --> 00:02:30,325 You know, because here we are the day after the election and the Bitcoin ETFs 32 00:02:30,325 --> 00:02:33,325 have seen $3.73 billion in trading 33 00:02:33,325 --> 00:02:37,625 volume, with BlackRock accounting for over half of that just today. 34 00:02:38,085 --> 00:02:43,405 Bloomberg analysts also categorize the last 15 days of inflows as, quote, extreme. 35 00:02:44,085 --> 00:02:47,585 The market likes the coin and they're hedging against a basement. 36 00:02:47,845 --> 00:02:53,585 And also now they expect a pro-regulatory environment. And that's kind of wild. 37 00:02:53,925 --> 00:02:57,725 If you just rewind the clock, I don't know, two years? 38 00:02:58,165 --> 00:03:03,045 You know, when FTX collapsed and SBF's schemes were all laid bare, 39 00:03:03,565 --> 00:03:06,985 Bitcoin and crypto were politically toxic. 40 00:03:07,505 --> 00:03:09,545 They were on the ropes. 41 00:03:10,325 --> 00:03:15,805 Operation Chokepoint 2.0 was kicked into high gear. Nobody was standing in the way now. 42 00:03:16,305 --> 00:03:20,065 The industry in the U.S. in particular was looking at leaving. 43 00:03:20,665 --> 00:03:26,105 It was really, really bad. But now, here we are just a few years later, 44 00:03:26,305 --> 00:03:31,125 and crypto is kind of the star of the election ball, if you will. 45 00:03:31,465 --> 00:03:34,545 Every politician has to think about how they're going to court this industry 46 00:03:34,545 --> 00:03:38,025 now. Because if they don't, they're probably going to lose an election in most cases. 47 00:03:38,825 --> 00:03:44,245 Betting against Bitcoin is no longer a viable stance in American politics. 48 00:03:45,245 --> 00:03:48,485 And it means they also have to think about the holders of Bitcoin as well. 49 00:03:48,885 --> 00:03:53,585 The money from the crypto industry is not going away just because this election ended. 50 00:03:54,005 --> 00:03:57,485 I had to discuss it all. And I'm looking at StandWithCrypto.org. 51 00:03:57,665 --> 00:04:02,345 This is where Fair Shake, the big crypto money, really came into congressional 52 00:04:02,345 --> 00:04:03,805 races across the country. 53 00:04:03,825 --> 00:04:07,545 In addition to watching the president in the House of Representatives, 54 00:04:07,825 --> 00:04:14,165 guys, 253 pro-crypto candidates were elected, as opposed to 115 anti-crypto. 55 00:04:14,245 --> 00:04:19,605 So 16 pro crypto for the Senate, 12 for the anti-crypto. 56 00:04:19,765 --> 00:04:21,965 So 16 pro, 12 non for the Senate. 57 00:04:22,707 --> 00:04:27,167 Part of Senate. I've already lost track. Yeah. It's an overwhelming push for 58 00:04:27,167 --> 00:04:28,387 crypto is what I'm saying. 59 00:04:28,847 --> 00:04:33,227 Ultimately, how does this make a difference? There's a lot at stake in Congress, actually. 60 00:04:33,407 --> 00:04:37,047 There was a lot of money at stake. 180 million was given to the Fair Shake super 61 00:04:37,047 --> 00:04:42,007 PAC coming from various members of crypto elite and crypto billionaires. 62 00:04:42,227 --> 00:04:45,607 But I think what they're at pains to say is this was nonpartisan. 63 00:04:45,987 --> 00:04:49,167 They didn't want to take a particular view on whether it's Democratic or indeed 64 00:04:49,167 --> 00:04:51,467 Republican. And it was whether or not you were pro-crypto or not. 65 00:04:51,687 --> 00:04:55,067 So for them, the key win was Sherrod Brown. Yes, he happens to be a Democrat. 66 00:04:55,227 --> 00:04:57,787 He's ousted over, of course, in that particular race in Ohio. 67 00:04:57,847 --> 00:05:01,607 He was on the Banking Committee in the Senate. He was fervently against crypto. 68 00:05:01,767 --> 00:05:04,107 So a new crypto supporter comes in. 69 00:05:04,407 --> 00:05:07,087 What does this mean? Oh, yes, Brown. 70 00:05:07,847 --> 00:05:14,607 Brown was the head of Operation Chokepoint 2.0 in the Senate. The key person. 71 00:05:15,167 --> 00:05:20,267 So a lot of money was spent there. A couple of particular candidates were either 72 00:05:20,267 --> 00:05:22,887 targeted or they were particularly supported. 73 00:05:23,487 --> 00:05:27,967 And the result is that the crypto industry made a huge impact. 74 00:05:28,247 --> 00:05:30,427 I mean, we're talking $140 million spent. 75 00:05:31,107 --> 00:05:34,307 And Fairshake, who you heard them mention there, is one of these PACs. 76 00:05:34,727 --> 00:05:39,927 They're already in the process of securing nearly $80 million just now. 77 00:05:39,927 --> 00:05:43,307 It's probably going to be more than this for the 2026 midterms. 78 00:05:43,647 --> 00:05:47,747 So they're not done. They are a permanent fixture of American politics. 79 00:05:49,207 --> 00:05:53,407 They're a creation of the regulatory crackdown. 80 00:05:53,567 --> 00:05:57,407 They created a monster that's now funding candidates that are attacking the 81 00:05:57,407 --> 00:05:58,527 position, the incumbents. 82 00:05:58,807 --> 00:06:00,707 So it's a historic moment for Bitcoin. 83 00:06:01,367 --> 00:06:05,927 Bitcoin was front and center for this election. And now I think the question 84 00:06:05,927 --> 00:06:12,447 that's probably on a lot of our minds is, how serious was Trump about his Bitcoin promises? 85 00:06:12,887 --> 00:06:16,507 Take a look at crypto. Oh, this morning, we have already a few times here with 86 00:06:16,507 --> 00:06:19,987 us now, getting after it relentlessly, right? 87 00:06:20,187 --> 00:06:24,067 Anthony Pompliano, founder and CEO of Professional Capital Management. 88 00:06:24,367 --> 00:06:28,127 And you are, you're always in a positive mood. Even though crypto is not always 89 00:06:28,127 --> 00:06:31,427 positive, it is this morning. You expect more new highs on Bitcoin. 90 00:06:32,537 --> 00:06:36,377 New all-time high. Satoshi couldn't have written a better script having it hit 91 00:06:36,377 --> 00:06:38,157 a new all-time high on the night of the election. 92 00:06:38,397 --> 00:06:41,417 I think one of the most important things is we have the first Bitcoin president. 93 00:06:41,657 --> 00:06:45,377 President Trump ran on a campaign point that he was going to protect Bitcoin. 94 00:06:45,377 --> 00:06:47,537 He was going to create a Bitcoin strategic reserve. 95 00:06:47,757 --> 00:06:51,157 And I think that you saw Bitcoin's price kind of reflect having somebody who 96 00:06:51,157 --> 00:06:52,697 was so pro-Bitcoin win the White House. 97 00:06:53,617 --> 00:06:59,057 Relatively, it's not that recent, I guess. So you think this is the real Donald 98 00:06:59,057 --> 00:07:03,777 Trump on Bitcoin that he's been for the last what, how long? A year and a half? 99 00:07:04,137 --> 00:07:07,617 I think that he's surrounded by enough people who really understand this. 100 00:07:07,757 --> 00:07:11,277 You know, people like Bitcoin Magazine CEO David Bailey, many others who have 101 00:07:11,277 --> 00:07:12,357 really spent the time with him. 102 00:07:12,537 --> 00:07:19,677 I think this is the most likely best case scenario is Bitcoin Magazine CEO Vivek. 103 00:07:20,097 --> 00:07:23,597 I think RFK Jr. also is a Bitcoiner as well. 104 00:07:23,757 --> 00:07:28,497 I think Vance has shown records that he owns a good amount of Bitcoin. 105 00:07:28,917 --> 00:07:33,937 So I guess the hope would be that the people around Trump will encourage positive Bitcoin policy. 106 00:07:34,157 --> 00:07:37,197 And one of the interesting things is whether he believes in Bitcoin or not is 107 00:07:37,197 --> 00:07:40,397 almost a mute point, is what is he going to do? And if he's going to protect 108 00:07:40,397 --> 00:07:42,097 it and not be abrasive, that's a win. 109 00:07:42,297 --> 00:07:45,397 But if he also creates the Bitcoin Strategic Reserve, I think that'll be a huge 110 00:07:45,397 --> 00:07:48,457 tailwind and it'll kick off this global game theory, right? 111 00:07:48,557 --> 00:07:51,937 If the United States starts to lean in and welcome Bitcoin and say, 112 00:07:52,017 --> 00:07:55,077 hey, this is an asset that we want on our balance sheet, other countries are 113 00:07:55,077 --> 00:07:59,697 going to have to respond. Yeah, especially when you consider that they want 114 00:07:59,697 --> 00:08:02,817 to add 5% of the total supply after five years. 115 00:08:03,757 --> 00:08:09,117 For the Bitcoin strategic reserve. And the ETFs are nearly at 1% now or something like that. 116 00:08:09,257 --> 00:08:12,037 And you've got Satoshi's stash, which is about 1%. 117 00:08:12,517 --> 00:08:17,077 And you've got Saylor, who's trying to buy up like 1%. Then you've got nation 118 00:08:17,077 --> 00:08:18,777 states that are going to start mining and stacking. 119 00:08:19,057 --> 00:08:22,837 It really does start to compound pretty quickly. And the interesting thing about 120 00:08:22,837 --> 00:08:25,197 Bitcoin is that it's been a bottoms-up adoption story. 121 00:08:25,617 --> 00:08:28,877 Individuals adopted it first. Now we see corporations and financial institutions. 122 00:08:29,077 --> 00:08:31,997 But the central banks are some of the biggest buyers of gold. 123 00:08:32,377 --> 00:08:35,817 Gold is up huge. And so if central banks start to buy Bitcoin and put it in 124 00:08:35,817 --> 00:08:38,597 their reserves, that would be a massive tailwind for Bitcoin. 125 00:08:38,857 --> 00:08:43,857 Now, if you will just, I guess, let me indulge for a moment. 126 00:08:43,857 --> 00:08:45,897 I'm going to activate the time machine. 127 00:08:48,697 --> 00:08:52,637 We go back in time to Bitcoin Nashville 2024. 128 00:08:53,497 --> 00:08:56,757 President Trump was on stage, which we'll talk about more in a moment. 129 00:08:57,217 --> 00:09:00,817 And while he was up there, he promised this Bitcoin reserve. 130 00:09:00,817 --> 00:09:03,157 And he said one of the ways they would fund it, if you'll recall, 131 00:09:03,417 --> 00:09:07,437 was by keeping the existing Bitcoin the U.S. government has already seized. 132 00:09:08,057 --> 00:09:14,277 After that, Senator Lummis came up on stage and she revealed her strategic Bitcoin reserve bill. 133 00:09:14,517 --> 00:09:18,657 This is where the details are, because the actual groundwork is going to happen 134 00:09:18,657 --> 00:09:21,237 in the Senate, not in the White House. 135 00:09:21,237 --> 00:09:29,497 We'll start with the 210,000 Bitcoin that President Trump just mentioned, 136 00:09:29,817 --> 00:09:36,977 and pull it into a reserve stored in geographically diverse vaults, 137 00:09:37,017 --> 00:09:39,157 and that's only the beginning. 138 00:09:39,517 --> 00:09:45,637 Over five years, the United States will assemble one million Bitcoin, 139 00:09:46,177 --> 00:09:49,257 five percent of the world's. 140 00:09:49,200 --> 00:09:55,120 Music. 141 00:09:56,394 --> 00:10:00,954 All right. Now we're back in the present. Yeah. So 200,000 Bitcoin per year, 142 00:10:01,214 --> 00:10:05,154 over five years to get to a total supply of one million. 143 00:10:05,514 --> 00:10:09,674 Just going by today's prices. And of course, if they started doing this, the price would be more. 144 00:10:09,754 --> 00:10:14,814 But by going just with what we have now, $76 billion worth of Bitcoin is what 145 00:10:14,814 --> 00:10:16,654 would go into that strategic reserve. 146 00:10:16,914 --> 00:10:22,034 And of course, once that amount is locked up, well, it just makes the asset more scarce. 147 00:10:22,194 --> 00:10:27,474 And it just it just makes the price go up. So that's interesting, 148 00:10:27,474 --> 00:10:31,514 just that it doesn't actually depend on Trump to execute this. 149 00:10:31,654 --> 00:10:37,334 It depends on Senator Lummis and her allies in the Senate and perhaps in the 150 00:10:37,334 --> 00:10:41,354 House to formulate law that could make it to Trump's desk. 151 00:10:41,494 --> 00:10:47,234 And now that he has come on the record multiple times saying that he would support 152 00:10:47,234 --> 00:10:50,414 something like that, it's really just on him not to veto it. 153 00:10:53,040 --> 00:11:02,160 Music. 154 00:10:53,754 --> 00:10:55,574 All right, let's talk about Trump's promises. 155 00:11:02,314 --> 00:11:06,214 Altcoin Daily put together a supercut, which I'll link to in the show notes, 156 00:11:06,454 --> 00:11:10,834 of every promise Trump made back to back to back, cutting out all of the weave. 157 00:11:11,671 --> 00:11:16,011 And also covers when he was speaking to Libertarians and when he was at Nashville 2024. 158 00:11:16,651 --> 00:11:20,251 And so I'm going to play this for you and then we'll recap every promise he 159 00:11:20,251 --> 00:11:25,271 made. And then we can keep track and see if he actually delivers. So here is the Super Cup. 160 00:11:26,571 --> 00:11:31,511 Hello, Bitcoiners. On day one, I will fire Gary Gensler. 161 00:11:31,511 --> 00:11:36,531 I will appoint a new SEC chairman who believes America should build the future, 162 00:11:36,531 --> 00:11:41,691 not block the future. A bond taking office, I will immediately appoint a Bitcoin 163 00:11:41,691 --> 00:11:45,091 and Crypto Presidential Advisory Council. 164 00:11:45,471 --> 00:11:50,311 Their task will be to design transparent regulatory guidance for the benefit 165 00:11:50,311 --> 00:11:55,351 of the entire industry, and they will get it done in 100 days. 166 00:11:55,691 --> 00:12:00,471 As part of our effort to provide regulatory clarity, we will create a framework 167 00:12:00,471 --> 00:12:05,531 to enable the safe and responsible expansion of stable coins. 168 00:12:05,531 --> 00:12:10,231 I will ensure that the future of crypto and the future of Bitcoin will be made 169 00:12:10,231 --> 00:12:15,911 in the USA, not driven overseas. I will support the right to self-custody. 170 00:12:16,051 --> 00:12:19,991 I will keep Elizabeth Warren and her goons away from your Bitcoin. 171 00:12:20,391 --> 00:12:25,851 It will be the policy of my administration, United States of America, 172 00:12:26,071 --> 00:12:29,931 to keep 100% of all the Bitcoin the U.S. 173 00:12:30,111 --> 00:12:34,451 Government currently holds or acquires into the future. This will serve, 174 00:12:34,591 --> 00:12:40,371 in effect, as the core of the Strategic National Bitcoin Stockpile. 175 00:12:40,591 --> 00:12:49,251 Today, I repeat my pledge to commute the sentence of Ross Ulbricht to a sentence of time served. 176 00:12:49,411 --> 00:12:53,491 Yeah, that's supposed to happen on day one. We allow the creation of a central 177 00:12:53,491 --> 00:12:57,111 bank digital currency. Ah, yes, and no CBDC. 178 00:12:57,331 --> 00:13:01,951 It's going to the moon, as we say. It's going to the moon. I want America to 179 00:13:01,951 --> 00:13:05,371 be the nation that leads the way. And that's what's going to happen. 180 00:13:05,991 --> 00:13:10,991 All right. So let's go over these. So by my count, depending on which ones you 181 00:13:10,991 --> 00:13:15,951 count, it's roughly nine promises he's made to the Bitcoin community. Number one. 182 00:13:16,559 --> 00:13:19,739 Fire Gary Gensler on day one. All right. 183 00:13:20,559 --> 00:13:24,599 That's not a big one for me, but it clearly is one for a lot of people. 184 00:13:25,119 --> 00:13:28,879 Number two, appoint a new FCC chairman that is pro-crypto. 185 00:13:30,299 --> 00:13:34,459 Yeah, it's really, it's a whole administrative apparatus that kind of needs to be updated. 186 00:13:35,159 --> 00:13:40,339 Promise number three, he will immediately appoint a Bitcoin Crypto Advisory Council. 187 00:13:41,199 --> 00:13:45,399 Their industry guidance will be done in 100 days. Now, I don't know if, 188 00:13:45,479 --> 00:13:46,759 is this one promise or two? 189 00:13:47,399 --> 00:13:50,759 I count it as one promise. Create a council, guidance in 100 days. 190 00:13:51,239 --> 00:13:54,419 But let's keep an eye on that. So that's the first three. Number four, 191 00:13:54,959 --> 00:13:59,159 he will create a responsible regulatory framework for stable coins. 192 00:14:00,579 --> 00:14:07,779 I think this is a no-brainer. When you look at what a massive customer tether is turning into for U.S. 193 00:14:07,879 --> 00:14:11,039 Government debt, they're incentivized to work with stable coins. 194 00:14:11,199 --> 00:14:13,619 So that happens regardless of what Trump wants. 195 00:14:14,159 --> 00:14:16,399 He says he will support the right to self-custody. 196 00:14:17,539 --> 00:14:22,239 I would imagine that looks like in the form of vetoing any bills that come across 197 00:14:22,239 --> 00:14:23,599 his desk that say otherwise. 198 00:14:23,979 --> 00:14:28,619 He says he will, quote, keep Liz Warren and her goons away from your Bitcoin. 199 00:14:29,919 --> 00:14:33,619 All right. Number five, I think. What are we on now? One, two, 200 00:14:33,819 --> 00:14:36,239 three, four, five, six. All right. So here's number seven. 201 00:14:36,899 --> 00:14:41,899 Trump admin policy will keep 100 percent of the Bitcoin the government holds. 202 00:14:42,819 --> 00:14:46,279 It will use that as the core of the strategic national Bitcoin stockpile. 203 00:14:46,479 --> 00:14:47,879 I'm counting that as one promise. 204 00:14:48,559 --> 00:14:53,179 Number eight. He will commute the sentence of Ross Albrecht from Silk Road. 205 00:14:54,879 --> 00:14:57,899 And number nine or ten, depending on how you're counting these, 206 00:14:58,119 --> 00:15:00,659 he will never allow a CBDC. 207 00:15:02,019 --> 00:15:05,459 So I say let's keep track of these promises. And I'm putting, 208 00:15:05,559 --> 00:15:07,959 I say, that meaning you and me. 209 00:15:08,079 --> 00:15:13,379 I could use your help as you see news comes up or something that maybe matches 210 00:15:13,379 --> 00:15:16,119 any of these promises, fail or success. Boost in and let me know. 211 00:15:16,599 --> 00:15:20,979 And I will keep a running list of promises met and promises missed. 212 00:15:21,679 --> 00:15:23,719 You know, some of this stuff he needs to do right away, really. 213 00:15:23,939 --> 00:15:27,279 You know, he says he wants to do it in the first 100 days, some of this. Well, we will see. 214 00:15:27,419 --> 00:15:29,599 There's a lot that they say they want to do in the first 100 days, 215 00:15:29,759 --> 00:15:31,299 but they don't always get it all done, do they? 216 00:15:36,779 --> 00:15:42,739 But it does seem like we could be entering a golden age of Bitcoin where savvy 217 00:15:42,739 --> 00:15:51,399 investors, large institutions, individual holders and nation states seem to see value in Bitcoin. 218 00:15:51,399 --> 00:15:54,139 Especially when you see the papers that have come out from the ECB, 219 00:15:54,319 --> 00:15:59,199 from the Minneapolis Fed, from the Microsoft shareholders, and others that say 220 00:15:59,199 --> 00:16:01,819 Bitcoin is the best hedge against abasement. 221 00:16:02,642 --> 00:16:11,202 Seems like a consensus is building there. And that safe haven view that so many 222 00:16:11,202 --> 00:16:15,282 of us Bitcoiners have been waiting for the rest of the world to come around to is happening. 223 00:16:16,942 --> 00:16:22,242 And Bitwise's CIO is a pretty sharp guy. And this morning, he released three 224 00:16:22,242 --> 00:16:26,322 immediate reactions to the election and what they mean for Bitcoin and crypto. 225 00:16:26,862 --> 00:16:31,702 And I will leave it to you to watch the other two. but I cut the first one for 226 00:16:31,702 --> 00:16:33,902 you and you can find the rest in the show notes. 227 00:16:35,042 --> 00:16:39,242 The first big thing is we are entering the golden age of crypto. 228 00:16:39,542 --> 00:16:44,102 For the last four and indeed the last eight years, crypto has been operating 229 00:16:44,102 --> 00:16:47,422 with one or maybe two arms tied behind its back. 230 00:16:47,802 --> 00:16:52,642 It's faced aggressive persecution from the SEC, multiple lawsuits, 231 00:16:52,642 --> 00:16:57,322 and a regulatory cloud that kept mainstream out of crypto. 232 00:16:57,702 --> 00:17:01,862 That is going to be washed away in my expectation in the first hundred days 233 00:17:01,862 --> 00:17:02,822 of the new administration. 234 00:17:02,922 --> 00:17:08,082 And we're going to get a fair, balanced playing field where we'll see what crypto can do. 235 00:17:08,462 --> 00:17:12,942 That will mean stablecoin legislation, it'll be market clarity legislation, 236 00:17:12,942 --> 00:17:17,922 and most importantly, it will remove the cloud hanging over crypto and allow 237 00:17:17,922 --> 00:17:21,102 institutional investors to evaluate it for what it is. 238 00:17:21,462 --> 00:17:26,342 From my perspective, that's going to be more flows and more adoption and a strong 239 00:17:26,342 --> 00:17:28,222 bull market for years to come. 240 00:17:28,422 --> 00:17:31,182 A bull market for years to come. 241 00:17:31,662 --> 00:17:36,902 Wow, that is very bullish. You know, and I can kind of see some of the setup 242 00:17:36,902 --> 00:17:40,342 because I don't think we should expect the debt to go away. 243 00:17:40,742 --> 00:17:44,862 The government spending isn't going to stop. There's still troubled waters out there. 244 00:17:45,122 --> 00:17:49,542 In the market itself, the delinquency rate on commercial mortgage-backed securities 245 00:17:49,542 --> 00:17:53,822 for offices spiked to 9.4% in October. 246 00:17:54,042 --> 00:17:56,822 That is the highest in 11 years. 247 00:17:57,182 --> 00:18:04,142 Delinquencies are officially rising at the pace only seen after the 2008 financial crisis. 248 00:18:04,402 --> 00:18:08,202 There are aspects that are still extremely soft out there. 249 00:18:08,502 --> 00:18:10,842 The government still has massive spending. 250 00:18:11,662 --> 00:18:16,682 When you consider the entitlement programs, defense, and just the interest on 251 00:18:16,682 --> 00:18:22,202 the debt that we have on the table right now, even if Elon and buddies eliminated 252 00:18:22,202 --> 00:18:25,122 50% of all the other spending in the government, 253 00:18:25,782 --> 00:18:29,102 annual deficits would still exceed a trillion dollars. 254 00:18:29,562 --> 00:18:32,842 Plus, you have all these categories they can't cut. 255 00:18:33,282 --> 00:18:37,902 All these things like entitlements that people are due and owed that they can't 256 00:18:37,902 --> 00:18:42,982 cut. and their cost will exceed the taxable income of the people. 257 00:18:43,342 --> 00:18:47,222 So deficits will continue to soar even if they cut half of the spending. 258 00:18:47,822 --> 00:18:53,602 If they don't touch defense and entitlements and that debt, it doesn't really 259 00:18:53,602 --> 00:18:56,042 change the fundamentals. It'd be an improvement. 260 00:18:56,742 --> 00:19:00,682 It'd be an improvement. And then if you could combine that with some kind of 261 00:19:00,682 --> 00:19:04,842 radical growth, radical growth, it might be all right. 262 00:19:04,942 --> 00:19:07,302 I don't know. I'd like to see it tried. 263 00:19:08,222 --> 00:19:12,142 But this isn't how the world should work. You know, I see my friends all around 264 00:19:12,142 --> 00:19:16,742 the world on the edge of their seats watching the U.S. presidential election. 265 00:19:17,402 --> 00:19:21,822 The whole world shouldn't hinge on who wins the White House every four years. 266 00:19:22,382 --> 00:19:27,302 And your family's generational wealth should not hinge on who is the president 267 00:19:27,302 --> 00:19:30,982 of the United States, especially when you don't live in the United States. 268 00:19:31,862 --> 00:19:36,502 Bitcoin will fix this, but it's still early in the adoption curve. 269 00:19:36,982 --> 00:19:41,262 I don't know if it'll fix it in our lifetime. It could. It may just be a tremendous 270 00:19:41,262 --> 00:19:45,162 store of value that saves you from debasement, which would be incredible. 271 00:19:45,382 --> 00:19:49,682 It may just be a monetary means that you can exchange amongst anybody you want 272 00:19:49,682 --> 00:19:51,322 with no one in between you. 273 00:19:51,742 --> 00:19:55,842 It may just be one of the coolest technologies of our lifetimes. And that would be great. 274 00:19:56,702 --> 00:20:01,762 I think it's going to take a while before Bitcoin fixes when one person lives 275 00:20:01,762 --> 00:20:05,362 in the White House, it affects the value of your life savings. It will get there. 276 00:20:05,842 --> 00:20:08,382 It will get there. But I just don't know if it'll get there in our lifetime 277 00:20:08,382 --> 00:20:14,882 because my gut tells me humans will try everything else first and then they 278 00:20:14,882 --> 00:20:16,382 will figure out what they have to do. 279 00:20:16,982 --> 00:20:21,822 That's just my gut on it. But I am I am so excited to get to watch this phase. 280 00:20:22,022 --> 00:20:24,722 This truly is history in the making for Bitcoin. 281 00:20:25,402 --> 00:20:29,122 And people will look back and be a little bit jealous of our generation. 282 00:20:29,322 --> 00:20:33,622 They may have a higher value Bitcoin, but they weren't here when the ride just took off. 283 00:20:34,160 --> 00:20:43,920 Music. 284 00:20:43,765 --> 00:20:50,985 Okay, so I got a question. What's your tolerance for price talk in a weekly news podcast? 285 00:20:51,885 --> 00:20:56,305 Because there is a possibility when and if the number goes up for a while, 286 00:20:57,085 --> 00:21:00,205 extended period of time, that's probably going to be one of the top stories. 287 00:21:01,005 --> 00:21:06,265 And I mean, I don't particularly like talking price because I think nobody should 288 00:21:06,265 --> 00:21:09,845 be getting Bitcoin and expecting a return in a week. 289 00:21:10,305 --> 00:21:13,545 I just think that's crazy. I mean, there may be periods of time where that happens. 290 00:21:13,765 --> 00:21:15,305 But that shouldn't be the expectation. 291 00:21:15,885 --> 00:21:19,065 So I don't like encouraging this constant price speculative talk. 292 00:21:19,165 --> 00:21:23,145 But there is also moments of time where we are watching an asset get monetized. 293 00:21:23,645 --> 00:21:29,405 And that is going to be the story. So what's your tolerance for price talk? Boost it and let me know. 294 00:21:29,905 --> 00:21:33,965 I'll use that to try to kind of, you know, basically get the right balance on the whole thing. 295 00:21:34,000 --> 00:21:44,880 Music. 296 00:21:42,905 --> 00:21:47,885 All right. We got a lot more. We got your boost. We got some project updates, 297 00:21:48,025 --> 00:21:49,725 a final clip of the week and more. 298 00:21:50,105 --> 00:21:54,105 Before we go any further, I want to tell you some ways you can support the show. 299 00:21:54,865 --> 00:22:00,165 If you want to buy, stack, hodl some Bitcoin, River's the company to do it here in the States. 300 00:22:00,525 --> 00:22:05,225 A Bitcoin-only company with the best infrastructure, proof of reserves, 301 00:22:05,585 --> 00:22:09,645 great interface, great app, and you can withdraw over Lightning. 302 00:22:10,205 --> 00:22:14,945 So you have a private option for withdrawing. So that's if you want to stack sats. 303 00:22:15,825 --> 00:22:19,965 If you want to spend sats, thebitcoincompany.com. Use the promo code JUPITER. 304 00:22:20,045 --> 00:22:21,945 I have links to both these in the show notes to support the show. 305 00:22:22,205 --> 00:22:24,945 They got gift cards for like basically every company out there. 306 00:22:25,265 --> 00:22:29,185 Your sats go from lightning to gift card in seconds. And you can log in using 307 00:22:29,185 --> 00:22:31,345 the lightning network. So you don't even have to create a user account. 308 00:22:31,565 --> 00:22:34,025 It's pretty sweet. That's thebitcoincompany.com. 309 00:22:34,525 --> 00:22:37,445 Promo code JUPITER. Using those supports the show. 310 00:22:38,000 --> 00:22:47,920 Music. 311 00:22:48,104 --> 00:22:51,344 And we do have some boosts this week. Thank you, everybody who sends them in. 312 00:22:51,484 --> 00:22:56,424 And our baller booster is Verbal Shadow. Hey, Rich Lobster! 313 00:22:55,920 --> 00:23:02,800 Music. 314 00:23:02,344 --> 00:23:06,504 Okay, here we go. It's five boosts, everybody. 315 00:23:06,704 --> 00:23:11,284 So Chris gets a lecture. Number one, Hive is part of your tech stack. 316 00:23:11,484 --> 00:23:15,644 You should have investigated already, but because it's an altcoin, you've refused. 317 00:23:16,084 --> 00:23:20,244 Podping is, this is number two. pod ping is not possible on bitcoin or any chain 318 00:23:20,244 --> 00:23:22,324 that has transaction fees, 319 00:23:23,184 --> 00:23:26,064 would kill the project and number three hive is a 320 00:23:26,064 --> 00:23:28,764 freedom of speech enabling named accounts no need 321 00:23:28,764 --> 00:23:32,104 to buy just earn none of the vc 322 00:23:32,104 --> 00:23:38,024 permissionless bs chain or permission pre-mine chain number four it does one 323 00:23:38,024 --> 00:23:42,104 thing on l1 store text data whether it's coin transactions or pod ping data 324 00:23:42,104 --> 00:23:46,864 all smart contracts are on layer two and number five the last one And Hive is 325 00:23:46,864 --> 00:23:49,484 the only blockchain to successfully fight off a hostile takeover. 326 00:23:49,764 --> 00:23:52,224 Stop holding off on learning about Hive. 327 00:23:53,104 --> 00:23:57,084 So this is an interesting perspective because it's obviously from somebody who 328 00:23:57,084 --> 00:23:58,444 cares a lot about the technology. 329 00:23:58,824 --> 00:24:02,864 Verbal Shadow clearly cares about it. And I've been here too with Bitcoin. 330 00:24:02,864 --> 00:24:06,084 It's like, how do you not take the time to learn about this? 331 00:24:06,204 --> 00:24:08,024 Stop being lazy and go learn about this. 332 00:24:08,444 --> 00:24:14,364 But if Hive were to be successful, like at massive scale or any blockchain technology, 333 00:24:14,824 --> 00:24:18,784 Like I think about how you're going to watch Wall Street just go so degen over 334 00:24:18,784 --> 00:24:21,064 RWAs, real world assets. 335 00:24:21,584 --> 00:24:24,504 You know, they're going to be trading real estate and whatnot on a blockchain. 336 00:24:24,764 --> 00:24:28,524 And do you think any of those traders are going to have any idea how that blockchain works? 337 00:24:29,324 --> 00:24:32,564 No. No, I think when you actually see crypto get implemented, 338 00:24:32,564 --> 00:24:34,544 it'll be much like how you saw Linux get adopted. 339 00:24:35,224 --> 00:24:37,864 You've got millions of users walking around with Android phones. 340 00:24:38,064 --> 00:24:40,344 Linux in their pocket, they have no idea how Linux works. They don't even know 341 00:24:40,344 --> 00:24:43,184 it has Linux in it. Don't even know it has Linux in it. 342 00:24:43,944 --> 00:24:48,804 So if you want Hive adopted and used, you're going to also have to then accept 343 00:24:48,804 --> 00:24:51,704 that there's going to be users who end up using an implementation of something 344 00:24:51,704 --> 00:24:53,024 they're not even aware is there. 345 00:24:53,484 --> 00:24:57,544 Just like most podcasting 2.0 users don't know there's a Hive blockchain for the podpings. 346 00:24:58,484 --> 00:25:02,644 Now, I actually was pretty skeptical of using something like Lightning. 347 00:25:02,784 --> 00:25:05,164 I think you heard me say that. I still haven't heard anybody say you couldn't 348 00:25:05,164 --> 00:25:06,344 do it over something like Nostr. 349 00:25:06,924 --> 00:25:09,844 I mean, that's how we pass around live chat. 350 00:25:10,524 --> 00:25:15,064 It's a JSON blob. So I wonder about that. So I would love to know more about 351 00:25:15,064 --> 00:25:16,424 fighting off a hostile takeover. 352 00:25:16,444 --> 00:25:23,704 And I also would love to know why I should like what I've tried to look up hive and I find other stuff. 353 00:25:23,964 --> 00:25:26,964 It seems like there's a lot of namespace collision. And that also kind of put 354 00:25:26,964 --> 00:25:29,884 me off because I couldn't tell if I was reading about the right hive or not. 355 00:25:31,441 --> 00:25:36,041 So it's a tricky thing to get people to go care about, you know, 356 00:25:36,201 --> 00:25:37,961 a messaging bus, essentially. 357 00:25:38,221 --> 00:25:40,801 But I follow that there could be something interesting there. 358 00:25:40,981 --> 00:25:46,081 But I mostly do not find other cryptocurrencies interesting because I'm not 359 00:25:46,081 --> 00:25:50,581 planning to try to hodl them to earn revenue and to store value. 360 00:25:51,121 --> 00:25:56,481 And today I transact in SATs or USD and I kind of have that use case solved. 361 00:25:56,981 --> 00:26:00,781 So I haven't really had a need for like Monero or I haven't really had a need 362 00:26:00,781 --> 00:26:05,761 for Hive beyond its implementation as a message bus for passing around episode releases. 363 00:26:06,201 --> 00:26:09,941 But I appreciate the boost of Verbal Shadow and thank you for being our baller this week. 364 00:26:10,641 --> 00:26:16,521 Bitcoin E97 came in with 50,000 sats. I hoard that which your kind covets. 365 00:26:17,701 --> 00:26:20,581 Definitely discuss politics as it is relevant to Bitcoin. 366 00:26:20,821 --> 00:26:24,041 By the time you're making your next episode, my guess is that the election will 367 00:26:24,041 --> 00:26:26,441 have a clear outcome. Yep, you're right about that. 368 00:26:26,861 --> 00:26:30,481 A good episode topic would be giving your analysis on what the victory means 369 00:26:30,481 --> 00:26:34,921 for Bitcoin based on the information and the events we have. Well, I hope I did that. 370 00:26:35,781 --> 00:26:38,101 He says, also, I'm boosting again. This was earlier today. Boosting to give 371 00:26:38,101 --> 00:26:41,901 you a leave. I'm too anon to share myself. Trump is the number one man right now. 372 00:26:43,341 --> 00:26:46,901 Oh, Howard Letnick. We're going to get to him. Oh, interesting. 373 00:26:47,361 --> 00:26:50,621 Okay, I'm not reading this now because I don't want to spoil my clip I'm going to play later. 374 00:26:51,661 --> 00:26:56,081 Fascinating. All right, so Bitcoin in 97 is telling me to look into somebody 375 00:26:56,081 --> 00:26:59,221 who I'm going to play as our final clip of the week in a little bit in the show. 376 00:27:01,701 --> 00:27:04,941 Yeah, it says, I'd love to hear your analysis on it. All right, 377 00:27:04,981 --> 00:27:07,421 well, stand by. And thank you for the boost. Thank you, Bitcoin. 378 00:27:08,081 --> 00:27:11,841 Open source accountant is here with 3,500 sats. 379 00:27:12,761 --> 00:27:16,561 I think Bitcoin adoption will fall somewhere between the model created by video 380 00:27:16,561 --> 00:27:20,721 games and its adoption and the model created by cell phone adoption. 381 00:27:20,721 --> 00:27:24,701 It will be ridiculed, and lobbyists will try to get it legislated against, 382 00:27:24,941 --> 00:27:26,581 just like they have with video games. 383 00:27:26,821 --> 00:27:30,461 But as more professional utilities adopted, people will feel like they are behind 384 00:27:30,461 --> 00:27:32,861 the curve, like you had with cell phone adoption. 385 00:27:33,161 --> 00:27:37,861 Both went from something used as a punchline of jokes to the biggest markets in the world. 386 00:27:38,841 --> 00:27:41,121 Bitcoin will be the third leg of that stool. 387 00:27:42,401 --> 00:27:44,741 Open source accounting, I feel like it's happening right now. 388 00:27:44,741 --> 00:27:49,001 And I remember, probably some of you listening remember, when beepers were only 389 00:27:49,001 --> 00:27:52,041 for drug dealers and cell phones were only for drug dealers or doctors. 390 00:27:52,901 --> 00:27:56,221 And as a kid who had a cell phone because I was a techie, you know, 391 00:27:56,461 --> 00:27:58,821 my teachers at school thought I was a drug dealer. 392 00:27:59,021 --> 00:28:02,381 They actually thought I did drugs and I deal drugs because I had a cell phone. 393 00:28:02,821 --> 00:28:04,041 And before that, I had a beeper. 394 00:28:05,389 --> 00:28:07,069 But that was really just so the ladies could get a hold of me. 395 00:28:07,169 --> 00:28:10,869 You know what I'm saying, OpenSARS accountant. Thank you for the boost. Appreciate it. 396 00:28:11,449 --> 00:28:15,149 Mix comes in with 5,000 sats. That's a Jar Jar boost. You so boost. 397 00:28:15,269 --> 00:28:17,889 Says thanks for the show. Well, thank you for the value. Appreciate that. 398 00:28:18,589 --> 00:28:21,489 Odyssey Westeros back with a bushel of ducks. 399 00:28:21,589 --> 00:28:24,309 This old duck still got it. It's a McDuck, I'm going to say. 400 00:28:24,389 --> 00:28:28,029 4,222 sats. I finally got my account made with River. 401 00:28:29,209 --> 00:28:33,449 The KYC process wasn't too painful. I had issues in the past due to my address. 402 00:28:33,949 --> 00:28:37,709 Yeah, I get mixed reports on River's KYC process. 403 00:28:38,409 --> 00:28:40,829 You know what I mean? So I'm glad you had a good experience. 404 00:28:40,929 --> 00:28:43,649 He said, I did have to complete some banking stuff before I could start buying the Bitcoin. 405 00:28:44,309 --> 00:28:47,969 I might do the savings account that River has going, but I have my reservations. 406 00:28:48,389 --> 00:28:52,109 Also, I had a bad week with my fountain wallet locking up due to a transaction. 407 00:28:52,329 --> 00:28:55,989 I'm realizing that I need to self-host my Lightning wallet with something like Albie. 408 00:28:56,229 --> 00:28:58,829 Either way, still loving the show. Look forward to learning from you. 409 00:28:58,949 --> 00:29:02,349 Well, thank you, Odyssey. It's nice to hear from you. And Albie Hub's pretty great. 410 00:29:02,929 --> 00:29:07,529 I wonder if there might be a way. If people know how to generate an invite, 411 00:29:07,669 --> 00:29:10,509 boost in, because I would hand out a few invites to help people get started 412 00:29:10,509 --> 00:29:11,329 with their AlbiHub setup. 413 00:29:12,009 --> 00:29:15,709 Sorry to hear about Fountain issues. I heard somebody also was having streaming issues with Fountain. 414 00:29:15,789 --> 00:29:19,329 I have not had any problems on iOS or on Android recently with Fountain, 415 00:29:19,829 --> 00:29:23,509 but I really appreciate those reports because it helps me keep an eye when things 416 00:29:23,509 --> 00:29:26,369 look down or something isn't quite right or when I talk to the Fountain team. 417 00:29:26,849 --> 00:29:29,809 It is really nice to know that stuff. Nice to hear from you, Odyssey. 418 00:29:30,489 --> 00:29:34,789 Oppie 1984 is here with 16,000 sats. 419 00:29:35,729 --> 00:29:40,509 In honor of the wharf sounder, today is a great day to die. Do I have a wharf? 420 00:29:40,949 --> 00:29:44,809 I don't think I have a... How do I not have a great day to die? 421 00:29:44,969 --> 00:29:46,609 I have Tough Little Ship. Tough Little Ship. 422 00:29:47,309 --> 00:29:49,249 Little. So there's some wharf for you. 423 00:29:51,689 --> 00:29:52,129 Kaplah! 424 00:29:54,389 --> 00:29:57,449 I don't know if... I guess if I should get a better one, huh? 425 00:29:57,949 --> 00:30:02,569 That's not possible. Well, nothing can do that. Well, I could if I tried hard enough. 426 00:30:04,749 --> 00:30:07,289 Bitcryptic's here with, oh, nope. Before we get to Bitcryptic, 427 00:30:07,449 --> 00:30:10,509 I'm sorry. Chaka's here with 10,000 sets. I told you not to practice Kiss the 428 00:30:10,509 --> 00:30:12,269 Living Room Pillow. The dog sleeps on it. 429 00:30:12,829 --> 00:30:16,509 And he says, so you have not enough boosts in the previous weeks. Let's correct that. 430 00:30:16,749 --> 00:30:21,029 I really like your breakdowns. Keep it up. Well, thank you, Chaka. Chaka. 431 00:30:22,429 --> 00:30:25,249 I say your name with respect to, I hope I got it right. 432 00:30:25,709 --> 00:30:31,429 No? Oh. All right. Now, BitCryptics here with 4,096 sats. Oh, this is Cajun spicy. 433 00:30:31,829 --> 00:30:36,369 I feel like it's time to add some sound bites for binary boosts. Okay. 434 00:30:36,809 --> 00:30:40,869 You got any recommendations? I will take it. I probably don't have much. 435 00:30:41,029 --> 00:30:44,309 I need, like, some computer kind of crunching kind of sound effect. 436 00:30:44,649 --> 00:30:48,689 You know, like a classic computer working sound. Maybe, like... 437 00:30:49,626 --> 00:30:52,706 There you go. That's kind of a crunching sound, right? 438 00:30:54,406 --> 00:30:57,506 It's kind of an obnoxious though. Fascinating. Yeah, sorry about that. 439 00:30:57,986 --> 00:31:00,386 Good suggestion though. I'm always down for some links too. 440 00:31:00,866 --> 00:31:03,846 Even if it's to like a YouTube video with a time code, I don't care. 441 00:31:04,186 --> 00:31:05,946 I'd love to freshen up the soundboard. 442 00:31:06,646 --> 00:31:13,806 Jordan Bravo is here with 8,192 sats. Analysis mode, password 80085. 443 00:31:14,826 --> 00:31:17,866 Money's tight these days, but your show always brings joy. keep up the great 444 00:31:17,866 --> 00:31:19,606 work and have some of my sats. 445 00:31:20,226 --> 00:31:23,426 Jordan, I get that. I definitely get that. I know. 446 00:31:23,586 --> 00:31:25,946 And the show is relentless. It keeps on going. It's a tricky thing. 447 00:31:26,066 --> 00:31:29,266 I think it's a balance and I'm always looking to try to add as much value to 448 00:31:29,266 --> 00:31:32,346 the show as possible to make it worth your support. Thank you, sir. 449 00:31:33,306 --> 00:31:37,986 PCNOLREF comes in with 5,000 sats. Here in Canada, I've been using ShakePay 450 00:31:37,986 --> 00:31:39,346 to accumulate some sats. 451 00:31:39,646 --> 00:31:42,506 It's similar to crypto.com. It has a Visa debit 452 00:31:42,506 --> 00:31:45,526 card that gives use sats for my purchases and also 453 00:31:45,526 --> 00:31:48,366 there's a squad concept where you can get 454 00:31:48,366 --> 00:31:51,546 some extra sats for what you for your squad buys 455 00:31:51,546 --> 00:31:55,206 yeah okay yeah cash app has something like that with boosts on 456 00:31:55,206 --> 00:31:59,766 top of that you can round out your purchases to buy sats once i hit my magical 457 00:31:59,766 --> 00:32:06,986 number or jar jar tells me i send it to my hardware wallet use a boost everything's 458 00:32:06,986 --> 00:32:10,206 under control yeah so i've been experimenting with fold i haven't really talked 459 00:32:10,206 --> 00:32:12,546 about it on the show because i wanted to try it for quite a while, 460 00:32:13,086 --> 00:32:17,666 Here in the States, Fold offers a debit card that you get sats back on your 461 00:32:17,666 --> 00:32:24,126 purchases, and they also offer ACH bill pay, and you get sats back on your bills. 462 00:32:24,766 --> 00:32:28,166 And so, like for me, you know, you got monthly bills you got to pay anyways. 463 00:32:28,266 --> 00:32:30,106 You might as well get 1,000 sats or something. It's not... 464 00:32:31,046 --> 00:32:34,226 Not going to make you rich. But, you know, after a few months, 465 00:32:34,226 --> 00:32:36,926 I probably have about 30,000 sats and rewards that I've stacked. 466 00:32:37,626 --> 00:32:41,126 And that's kind of nice. You know, I was just going to spend that money anyways. 467 00:32:41,726 --> 00:32:44,666 So there's a few things out there. If anybody else has any tricks for stacking 468 00:32:44,666 --> 00:32:48,106 sats with purchases, boost them in. Thank you, Nolref. Appreciate that. 469 00:32:48,906 --> 00:32:54,406 Withers comes in with 14,001 sats. Everything's under control. This is the way. 470 00:32:54,666 --> 00:32:57,626 Hey, Chris, just caught up with all of the episodes after a bit of a delay, 471 00:32:57,786 --> 00:33:01,046 switching over from the Bitcoin dad pod. I miss our Bitcoin dad, 472 00:33:01,226 --> 00:33:03,566 but I'm loving the new show and I hope that dad's doing well. 473 00:33:03,766 --> 00:33:05,906 I did hear from him recently. I think he is doing well. 474 00:33:06,206 --> 00:33:08,326 I'm excited that both I'm excited 475 00:33:08,326 --> 00:33:12,006 at both DCA and getting Bitcoin interest on my fiat tokens on river. 476 00:33:12,226 --> 00:33:17,346 But again, I got shut down for living in New York. What are my New York neighbors 477 00:33:17,346 --> 00:33:19,446 using for their easy KYC stats? 478 00:33:20,266 --> 00:33:22,286 That isn't Coinbase. 479 00:33:23,126 --> 00:33:25,106 Man, New York needs to get its crap together. 480 00:33:26,306 --> 00:33:29,466 Washington has a few things that make it really tricky as well. 481 00:33:29,606 --> 00:33:32,466 It's not as bad as New York. So I really feel your pain. 482 00:33:33,686 --> 00:33:36,366 Washington restricts things to individuals, but if you have a business, 483 00:33:36,366 --> 00:33:37,586 you can get around some of it. 484 00:33:37,886 --> 00:33:41,566 But they almost went as bad as New York. That's rough, Withers. 485 00:33:41,846 --> 00:33:46,346 If anybody has any advice for how Withers can get sats that isn't Coinbase in 486 00:33:46,346 --> 00:33:47,866 New York, please send it in. 487 00:33:48,326 --> 00:33:52,026 Got a suggestion for the newbie corner too. I'd love to understand cold cards. 488 00:33:52,026 --> 00:33:57,446 Specifically the benefit over running something like Sparrow on an SBC only 489 00:33:57,446 --> 00:34:00,586 turned on for transfers. And I'd like to hear your recommendations. 490 00:34:01,086 --> 00:34:05,286 Okay. I will add that to the list. You know, what it really comes down to is 491 00:34:05,286 --> 00:34:10,826 making sure that nobody spends your coins without particularly careful precautions 492 00:34:10,826 --> 00:34:13,206 taken, intentional precautions taken. 493 00:34:13,766 --> 00:34:18,786 And you can, you know, you can operate Sparrow with a cold card just about every 494 00:34:18,786 --> 00:34:21,266 way you always would, except when it comes to Sensats. 495 00:34:21,806 --> 00:34:25,366 I'll, you know, I'm cold card. I'm going to write that down because that could 496 00:34:25,366 --> 00:34:26,646 be particularly, where's my pen? 497 00:34:27,346 --> 00:34:31,566 Oh, I'm always supposed to have a podcast pen. I cleaned up and I lost my podcast pen. 498 00:34:34,026 --> 00:34:37,426 I hope I don't forget because I think the cold card could be a particularly 499 00:34:37,426 --> 00:34:38,566 good one for a holiday special. 500 00:34:38,566 --> 00:34:44,546 But in the meantime, you know, self-custody, even without cold storage on a 501 00:34:44,546 --> 00:34:48,566 machine that you have disconnected regularly, that you have storage that you 502 00:34:48,566 --> 00:34:53,126 trust, is better than leaving it on the exchange. It's a good question withers. Thank you. 503 00:34:53,866 --> 00:34:57,006 Grounded Grid comes in with 2,600 sats. 504 00:34:58,326 --> 00:35:01,846 Made it most of the way through the podcast and realized my streaming was off. 505 00:35:01,966 --> 00:35:05,186 I just want to say thanks for the great informative show. I like the episodes 506 00:35:05,186 --> 00:35:06,526 longer. Newbie Corners are great. 507 00:35:06,686 --> 00:35:09,766 And the stats at the end of the show are a great way to wrap up. 508 00:35:10,046 --> 00:35:12,386 Don't feel like you need to read this. Well, I just did. 509 00:35:13,646 --> 00:35:17,186 Grounded. Thank you very much. Really appreciate that. 510 00:35:17,766 --> 00:35:22,246 Wine Eagle's here with 3,500 stats. But no message. 511 00:35:23,268 --> 00:35:27,468 No message, but I appreciate that. Wine Eagle, I think it's probably you. 512 00:35:27,648 --> 00:35:30,148 We were talking about you provoked the hive conversation before. 513 00:35:30,628 --> 00:35:35,728 Or is this a new Wine Eagle? I don't know, but it's nice to get the boost. Thank you for the value. 514 00:35:36,588 --> 00:35:42,148 And Anonymous came in with a Spaceballs boost, 12,345 sats. 515 00:35:42,428 --> 00:35:46,488 So the combination is one, two, three, four, five. 516 00:35:47,168 --> 00:35:51,108 Keep pushing for and investigating open source podcasting with value for value. 517 00:35:51,248 --> 00:35:54,368 I hear you, brother. Boost! Yes, I agree. 518 00:35:55,088 --> 00:36:02,008 Super important, podcasting is a uniquely decentralized, dispersed technology, right? 519 00:36:02,068 --> 00:36:04,568 There's no YouTube of podcasting. 520 00:36:05,128 --> 00:36:10,008 Companies are trying, but they haven't been successful yet. And if I have anything 521 00:36:10,008 --> 00:36:11,988 to say about it, they never will be. 522 00:36:12,848 --> 00:36:17,068 Ace Ackerman comes in with 3,333 sats. You're doing a good job. 523 00:36:17,308 --> 00:36:20,088 Value for value, lucky 33. Thank you, Ace. 524 00:36:20,668 --> 00:36:24,468 Appreciate that a lot. Okay, there we go. That brings us to the end of everybody 525 00:36:24,468 --> 00:36:25,968 who boosted above 2000 sats. 526 00:36:26,148 --> 00:36:29,248 I did get a few below, but I don't read those for time purposes, 527 00:36:29,388 --> 00:36:34,028 but I do keep them and I read them off air and keep them in the show doc forever. 528 00:36:34,308 --> 00:36:38,528 And I appreciate them. There's some good ones in there. So we had a pretty decent 529 00:36:38,528 --> 00:36:41,588 showing. We had 37 of you stream as you listen. 530 00:36:41,908 --> 00:36:46,688 So you streamers out there collectively stacked 40,341 sats for the show. 531 00:36:47,108 --> 00:36:51,228 When you combine that with a nice healthy amount of boosters, 532 00:36:51,328 --> 00:36:58,748 we had 18 boosters. we stacked a grand total of 283,330 sats. 533 00:37:00,880 --> 00:37:07,600 Music. 534 00:37:08,728 --> 00:37:12,268 Thank you, everybody. I know it's a crazy time with the election and the price fluctuations. 535 00:37:12,588 --> 00:37:17,248 The show continues on, and it may be moving into a whole new phase. 536 00:37:17,468 --> 00:37:20,328 Your support means more than ever. If you'd like to participate, 537 00:37:20,508 --> 00:37:25,348 get a new podcast app at podcastapps.com, Fountain.fm, Cast-O-Matic, 538 00:37:25,668 --> 00:37:27,528 Podcast Guru, and many more. 539 00:37:28,668 --> 00:37:33,168 Newpodcastapps.com. You can boost in with one of those. And thank you so much for participating. 540 00:37:33,408 --> 00:37:36,988 It really, it's like the, I know I say this, but it really is my favorite part 541 00:37:36,988 --> 00:37:39,188 of the show because there's just always stuff in there I don't expect. 542 00:37:39,488 --> 00:37:44,608 And stuff I wouldn't plan for, stuff I wouldn't even remember because I have the worst memory ever. 543 00:37:44,608 --> 00:37:48,768 You know so it's really nice to get in there and actually have a conversation 544 00:37:48,768 --> 00:37:52,828 that goes beyond just the one episode that i remember things please feel free 545 00:37:52,828 --> 00:37:56,648 to continue to follow up and boost from previous episodes to keep conversations 546 00:37:56,648 --> 00:38:01,608 going i absolutely love that part of the boost all right moving right along. 547 00:38:02,320 --> 00:38:13,840 Music. 548 00:38:13,969 --> 00:38:17,889 Just a couple of project updates for you, but this first one's a big one. 549 00:38:18,449 --> 00:38:23,309 Bolts.exchange, which is one of the best resources for the Bitcoin community 550 00:38:23,309 --> 00:38:28,009 out there, has just rolled out Bolt 12 support. 551 00:38:28,649 --> 00:38:33,509 Now, this is huge because it's an open source application as well as a fantastic 552 00:38:33,509 --> 00:38:38,969 service, Bolts, B-O-L-T-Z.exchange, where you can swap from Lightning to Liquid 553 00:38:38,969 --> 00:38:40,789 or on-chain and all in between. 554 00:38:40,789 --> 00:38:46,449 And they have a new CLN hold invoice plugin for the backend that has been rebuilt 555 00:38:46,449 --> 00:38:51,609 in Rust and they have what they call flexible chain swap amounts with automatic 556 00:38:51,609 --> 00:38:54,549 renegotiations when things are over or underfunded. 557 00:38:54,809 --> 00:39:00,929 They now support any chain swap amount and you can now use Bolt 12 to do invoice 558 00:39:00,929 --> 00:39:05,309 payments in submarine swaps and has a whole new API endpoint for invoices. 559 00:39:05,589 --> 00:39:10,049 So with Bolt 12, you get reusable payment requests, Enhance receiver privacy, 560 00:39:10,309 --> 00:39:15,389 huge right there, and stronger censorship resistance. Bolt 12 is a big deal. 561 00:39:15,629 --> 00:39:17,709 I'll put a link in the show notes if you want to learn more, 562 00:39:17,769 --> 00:39:21,349 or you can go to bolt12.org, B-O-L-T-12.org. 563 00:39:22,429 --> 00:39:26,449 So if you need to get on-chain sats into Lightning or you've accumulated sats 564 00:39:26,449 --> 00:39:28,909 in Lightning, you want to get them on change or you want to experiment with 565 00:39:28,909 --> 00:39:30,949 liquid, B-O-L-T-Z.exchange. 566 00:39:31,089 --> 00:39:34,509 No affiliation with the show. It's a service I use. I think they're really, really great. 567 00:39:34,729 --> 00:39:39,009 And to see them add Bolt 12 support, Well, that's just fantastic. 568 00:39:40,109 --> 00:39:43,629 Strike has launched automatic withdrawals. Another great way to get your Bitcoin 569 00:39:43,629 --> 00:39:49,629 is the Strike app, another Bitcoin-only company with a diehard Bitcoiner behind it. 570 00:39:49,709 --> 00:39:52,289 And now they've introduced auto-withdrawals. 571 00:39:52,369 --> 00:39:57,769 So you just simply DCA with their super low prices, and then you set a desired 572 00:39:57,769 --> 00:40:03,209 amount, and your stack will automatically be transferred to your Bitcoin address within 24 hours. 573 00:40:03,389 --> 00:40:07,649 Now, why within 24 hours? they're batching here and they're batching for low fees. 574 00:40:07,809 --> 00:40:11,889 But I think that means there's no withdrawal fees for you. So that's pretty sweet. 575 00:40:12,269 --> 00:40:15,889 And so you just set it and forget it and it'll just accumulate. 576 00:40:15,889 --> 00:40:17,269 And then when you reach a threshold. 577 00:40:18,327 --> 00:40:21,147 It will deposit into a Bitcoin address for you. If it were me, 578 00:40:21,267 --> 00:40:23,647 I might have that move into a Liquid account, and then from there, 579 00:40:23,747 --> 00:40:24,947 I might move it to my cold storage. 580 00:40:25,067 --> 00:40:28,187 But it's really nice to see Strike add these kinds of features. 581 00:40:28,387 --> 00:40:31,487 I think River has something like that, and Swan as well. 582 00:40:31,907 --> 00:40:34,767 And I'm not sure if there's others. If you know one out there that does, 583 00:40:35,247 --> 00:40:36,747 please feel free to let me know. 584 00:40:37,387 --> 00:40:40,487 My understanding is that it's kind of a small handful of services that do this 585 00:40:40,487 --> 00:40:44,267 automatic withdrawal, and that's peace of mind when you're stacking Bitcoin. 586 00:40:45,027 --> 00:40:48,547 And it is time now for our final clip of the week. 587 00:40:48,727 --> 00:40:53,547 This was what our booster was referring to is there's an interesting gentleman 588 00:40:53,547 --> 00:40:55,487 known by Howard Lutnick. 589 00:40:55,627 --> 00:40:58,607 And you might go you might go Google Howard Lutnick. 590 00:40:58,747 --> 00:41:03,107 He is the CEO of Cantor Fitzgerald. And he's got a lot of interesting insights 591 00:41:03,107 --> 00:41:06,147 onto Bitcoin and building a Bitcoin business. 592 00:41:06,747 --> 00:41:09,927 Now, Cantor Fitzgerald, you've probably heard the name. They're pretty well 593 00:41:09,927 --> 00:41:14,347 known. They've been around since 1945. They're an American financial services company. 594 00:41:14,647 --> 00:41:17,467 They're one of the – easy for me to say. 595 00:41:17,627 --> 00:41:24,847 They're one of the – they're one of the 24 primary dealers that are authorized to trade U.S. 596 00:41:24,947 --> 00:41:27,627 Government securities with the Federal Reserve Bank of New York. 597 00:41:27,827 --> 00:41:34,807 And they have around 12,000 employees. Their CEO sat down with Pomp and shared 598 00:41:34,807 --> 00:41:40,247 his personal position and views on Bitcoin and where Bitcoin in banking is going. 599 00:41:40,887 --> 00:41:43,147 I have one last question for you before I let you go. 600 00:41:43,807 --> 00:41:46,927 How rich are you and how much of your net worth is in Bitcoin? 601 00:41:48,527 --> 00:41:51,267 Because if I don't ask you, everyone will be really mad at me. 602 00:41:53,427 --> 00:41:57,767 If you took my stake in my public companies, which is public, 603 00:41:58,007 --> 00:42:01,487 and you did the public math, you'd see a couple of billion dollars. 604 00:42:02,027 --> 00:42:05,387 And then at least a couple of billion dollars. And then you'd have, 605 00:42:05,487 --> 00:42:08,327 what's Cantor worth? I'm not saying. 606 00:42:09,287 --> 00:42:12,767 But things are good for me. How about that? Is that a nice way to say it? 607 00:42:13,107 --> 00:42:16,687 Since Cantor owns the stakes in the other companies, it's good for me. 608 00:42:16,687 --> 00:42:21,027 So, and I have- The percentage, you don't have to say the exact number, 609 00:42:21,087 --> 00:42:23,847 but like, how do you think about either you or Cantor? 610 00:42:24,147 --> 00:42:27,207 I don't have a big enough percentage. I probably have, you know, 611 00:42:27,347 --> 00:42:31,627 if, no, I can't say it, because then people can figure out the amount and how much I have. 612 00:42:31,727 --> 00:42:35,867 I would say I have hundreds of millions of dollars. Okay. 613 00:42:36,307 --> 00:42:40,007 Okay, hundreds and hundreds of millions of dollars, exposure to Bitcoin. 614 00:42:41,382 --> 00:42:45,422 And it will be billions. I was going to say, so next year when you come back, 615 00:42:45,562 --> 00:42:47,722 and we'll do this again, and you'll be a Bitcoin billionaire. 616 00:42:49,402 --> 00:42:53,422 Yeah, but you remember that model I told you? So, every time Bitcoin dips, 617 00:42:54,122 --> 00:42:55,142 I'm going to be the buyer. 618 00:42:56,042 --> 00:42:57,582 Trust me, I know why you're doing the lending. 619 00:43:00,742 --> 00:43:03,862 Listen, you don't have to explain that one around here. So, yeah, 620 00:43:04,022 --> 00:43:08,262 I got the 50% Bitcoin, I got the Bitcoin lending. but basically what you're 621 00:43:08,262 --> 00:43:12,742 going to see is Canada Fitzgerald is going to be the sponsor of Bitcoin into traditional finance. 622 00:43:13,242 --> 00:43:17,402 And so we will be the leader of it. And I'll pull out this podcast in years 623 00:43:17,402 --> 00:43:20,482 to come and say, see, I told you, because no one's going to remember. 624 00:43:20,902 --> 00:43:27,762 But all the banks, after we do it and show people how to do it right, they'll all copy. 625 00:43:28,102 --> 00:43:32,922 And so the asset of Bitcoin will just, as it becomes more accepted, 626 00:43:33,202 --> 00:43:35,202 it will become more valuable. 627 00:43:35,482 --> 00:43:40,422 And the whole Bitcoin nation should just call it a commodity, never a currency. 628 00:43:40,842 --> 00:43:42,622 Just call it a commodity. Because if 629 00:43:42,622 --> 00:43:47,842 it's a currency, you're attacking the politicians of the country, right? 630 00:43:47,962 --> 00:43:50,322 You're trying to replace my currency with yours. 631 00:43:50,522 --> 00:43:54,162 But if you say, hey, hey, hey, I'm just oil. 632 00:43:54,422 --> 00:44:03,002 I'm just gold. I'm just a commodity, leave me be, then they'll leave you be. And that is true. 633 00:44:03,322 --> 00:44:09,942 And it will be why Bitcoin, which is rare and is special, will become ever more 634 00:44:09,942 --> 00:44:13,642 rare, as we both know, ever more valuable over time. 635 00:44:13,802 --> 00:44:16,322 It'll be financed just like gold is. 636 00:44:16,922 --> 00:44:21,682 Gold is, it's not like super financeable, but it's financeable. 637 00:44:21,822 --> 00:44:27,982 Oil, it's not super financeable, but it's financeable. Bitcoin will be financeable 638 00:44:27,982 --> 00:44:34,942 Bitcoin will be way way higher sometimes lower you just have to have faith. 639 00:44:35,920 --> 00:44:49,360 Music. 640 00:44:49,205 --> 00:44:51,905 Let's take a look at the state of the network before I get out of here. 641 00:44:52,105 --> 00:44:56,465 As I record, the price is currently $75,700. 642 00:44:57,565 --> 00:45:02,305 That is 1,321 sats per U.S. dollar. 643 00:45:02,565 --> 00:45:06,445 The price is up 4.6% since the last episode. 644 00:45:06,905 --> 00:45:10,225 We're down just 1% from our all-time high. Our all-time high, 645 00:45:10,345 --> 00:45:14,185 by the way, was zero days ago, November 6, 2024. 646 00:45:15,905 --> 00:45:19,145 It's been a while since I've said that. I mean, I've been looking at this chart. 647 00:45:19,805 --> 00:45:23,745 We made it almost like, what, 230 days? Maybe more than that. 648 00:45:23,985 --> 00:45:26,005 Going sideways. Pretty incredible. 649 00:45:26,745 --> 00:45:32,845 As the episode wraps up, we are at block height, 869,184. 650 00:45:33,885 --> 00:45:36,685 The state of the Bitcoin network is strong. 651 00:45:38,385 --> 00:45:43,505 Thank you so much for joining me. Links to what I talked about today are this week in Bitcoin.show. 652 00:45:44,145 --> 00:45:48,085 Please do boost in with what you'd like to hear or what you thought I missed 653 00:45:48,085 --> 00:45:54,285 and your take on Bitcoin's future over even the next 100 days. I'd like to hear that. 654 00:45:54,365 --> 00:45:57,185 And I'd love for you to share this with somebody who might be getting just a 655 00:45:57,185 --> 00:46:01,925 little Bitcoin curious and maybe another friend in the Jupyter Broadcasting community as well. 656 00:46:01,925 --> 00:46:07,505 Now, I do think one of the greatest innovations in recent Bitcoin history has 657 00:46:07,505 --> 00:46:11,645 been the ability to boost music and, of course, podcasts. 658 00:46:11,825 --> 00:46:15,945 And so that's why every episode I try to feature a value for value artist. 659 00:46:16,145 --> 00:46:21,745 If you boost in while the track is playing, 90 percent of your sats go to the artist. 660 00:46:21,965 --> 00:46:25,285 And this week, I'm leaving you with one of my all time favorites. 661 00:46:25,445 --> 00:46:28,025 It's One Night by Daddy Nat. Daddy Nat. 662 00:46:27,920 --> 00:49:13,959 Music.