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Welcome in to This Week in Bitcoin, Episode 72.

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

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Well, September is kicking off with a bang.

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If you're just watching Bitcoin price action, you might not realize it,

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But there's a lot happening in the macro sense.

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The U.S. just added half a trillion dollars of federal debt in the last 30 days.

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Our buddies in Canada, the numbers just came in.

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The Canadian economy shrank 1.6 percent in the second quarter of this year.

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And all this is despite aggressive rate cuts in central banks around the world.

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And yields are surging.

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September clicked and France, Japan, Germany, Canada, the U.S. and the U.K., the yields just started surging.

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Japan's 30-year bond just ripped to all-time new highs.

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All time.

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The UK is seeing the highest rate since 1998.

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I think the only read here, I could be wrong,

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but I think the read here is that the market is rejecting central bank rate cuts.

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You see it in gold, kind of the canary in the coal mine, classically.

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Gold has a new goal, and that is its all-time high now of $3,560.

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When this happens with gold, Bitcoin tends to follow shortly after.

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it is sniffing out problems in the market.

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And it's just a more known product.

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It's been in the market a long time.

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It has a ginormous market share.

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So gold moves first.

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But it tends to be an indicator

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and Bitcoin tends to follow.

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So no doubt about it,

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with rate cuts looming in the US,

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even though the market seems to be rejecting them,

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September is setting up to be a consequential month

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in a lot of ways,

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from macro issues at the top

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to pain in the streets.

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The McDonald's CEO, talk about pain in the streets, just went on CNBC and gave us a reality check for the U.S. economy.

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And part of what we also saw was that particularly with middle and lower income consumers, they're feeling under a lot of pressure.

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I think there's a lot of commentary about what's the state of the economy, how's it doing?

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And what we see is it's really kind of a two tier economy.

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If you're upper income earning over one hundred thousand dollars, things are good.

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Another way to put this is retail is tapped out. You'll hear that kind of terminology in our community sometimes. Depending on where you live, like if you live in the Pacific Northwest, 100K isn't enough. But depending on where you live, if you make 100K or more, you're doing okay. You're not skipping breakfast. You're not really feeling the pain anymore of inflation. You're doing mostly okay. You're probably traveling a bit.

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below that 100k line and this guy knows his stuff this is where they make their money

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this is mcdonald's power range here right below that 100k people are really hurting and it is

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clearly a division a two-tier system i mean if you're upper income earning over a hundred thousand

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dollars things are good stock markets are near all-time highs you're feeling you know quite

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confident about things you're seeing international travel all those barometers of upper income

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consumers are doing quite well. What we see with middle and lower income consumers is actually a

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different story. It's that consumers under a lot of pressure in our industry, traffic for lower

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income consumers is down double digits. And it's because people are either choosing to skip a meal.

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So we're seeing breakfast. People are actually skipping breakfast or they're choosing to just

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eat at home. And so for our business, which has a significant group of consumers, which are in that

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middle and lower income, we needed to step in with something like what we're doing here.

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They need cheaper food. McDonald's needs cheaper food. The number of Americans not in the labor

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force who currently want a job is up to 6.2 million by the official stats. I'll link to the

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stats in the show notes. That's the highest since July 2021. So like around COVID times.

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So the U.S. now has more unemployed people than job openings. Pain in the streets,

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macro issues at the top. This is why the Trump administration is pushing to get more and more

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control of the Fed. If J-Pow won't cut the rates, then they're going to get more control of the Fed.

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And I think they're going to get what they want. The incentives are aligned in the system on this

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one. Fed Governor Waller, who is someone that is on the short list to replace J-Pow as the Fed chair,

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he was recently interviewed and he's kind of signaling the direction things would go if he

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was put in charge. And he says, this is such a great, it's a phrase that's been floated by a few

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Fed officials. And he comes right out and just says it on air now. You need to look past the

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inflation. If you look past the inflation, things are great. Yeah, well, he was unambiguously calling

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for rate cuts in our exclusive interview, Sarah, as you know, and also adding that the Fed may have

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far to go to get to neutral. The two other Fed speakers, they were not quite as dovish, but they

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did express some flexibility in their outlooks. First, let me get to Waller, who said that his

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call for cuts is really based on the idea that tariffs pass through the system and don't create

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wider inflation. If you take 3%, you're about 125, 150 basis points above that. And if tariff

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inflation looks like it's going to be temporary, and it's a one-time level effect, which I think,

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inflation expectations are anchored, and the labor market's really weakening. So our dual

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mandate says worry about employment and inflation look through the inflation worry about the

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employment start cutting you just got to look through the inflation don't you get it he solved

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it if you just look past the inflation inflation's not so bad so go ahead and cut rates and get more

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inflation and that is the policy it seems because that that's basically that guy's messaging to

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trump give me the job so that's the policy if he gets the job or whoever does get the job

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And when that happens, you got to wrap your head around this because this is key to Bitcoin's value proposition. When this policy does become law of the land, and it seems likely that it is and will, everyone becomes a spectator or maybe the better way to put it is a speculator.

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the debasement's going to become obvious after a certain point this is what i'm saying the

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debasement's going to become obvious everyone's going to realize it even people that have no

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economic background they're going to understand that they're getting debased so in a sense

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everyone is gambling on what to do with their money because if you're getting paid in fiat

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it's getting debased at a rate that you're actually going to be able to notice now

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that's the thing even even running around three percent you're going to notice that because three

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percents their official baseline number. But as we know, it often runs hot in individual areas. And

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what we saw last time is sometimes it would run hot in lumber. And then you'd see it in eggs. You'd

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see it in different sectors at different times. And so they'd come in with like, oh yeah, CPI is

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the max it ever got to is 7%. Meanwhile, if you look at your grocery bill from two, three years

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ago and you buy the same things, it's more than doubled in price. Seems like more than 7% to me.

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it becomes noticeable. So everyone's going to be spectating on this event. And whether they realize

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it or not, they're also speculating. And I know I'm not doing a very good job of explaining it,

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so I'm going to call in some backup here. Jack Mallers was on Bloomberg, and he tried once again

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to explain it to a no-coiner who just never gets it, who gets paid well. You know, he's maybe a,

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I don't mean to be offensive, but I know a lot of tech guys like this, or gals.

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You know, they make kind of a ridiculous amount of money relative to other industries for their amount of experience and value.

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No offense, I was one of them once too.

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And they're not really feeling the pain.

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They are living in pretty much a position of privilege.

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You know, I was looking at house prices just again.

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And people are moving into houses with an HOA of $1,000 a month.

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The kind of luxury life you must live in order to be willing to pay $1,000 a month, which should be almost another rent.

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and HOA fees should be a signal to you that you're living a very privileged life, a very special

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position. But these people, they get paid, they get paid well. They're not particularly feeling

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the pain. So they don't see what's coming. And Jack tries his best. Last time you were on our

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program, you gave this idea, it kind of went viral on X after we spoke, but it was this idea of

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the idea of existing and being paid to exist through cryptocurrency. The idea that, you know,

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you sitting there at work all day long, you're not necessarily being compensated for what you're

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doing. And you see crypto as being a solution to that. I got to be honest with you, I didn't quite

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get it. I want you to paint that picture for me and get me on board. Yeah, well, so first of all,

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I think it's Bitcoin, not crypto. You know that. But just to clarify for the audience, it's Bitcoin

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specific. Well, that's just your view, though, that Bitcoin is the crypto that you're focused on.

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Yeah, but I think it's Bitcoin is the money within the crypto sphere. And the point really

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hears is this, Tim. Every single day, you make a decision on how to get compensated for your time,

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your energy, your effort, your labor. I'm watching you. I'm sitting in the behind the scenes. I'm

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watching you haul your butt. You're doing a great job on this show. You need to somehow capture the

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value you're creating for all of us here. And you need to somehow save that value so that tomorrow

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you can pay rent, you can get groceries, you can travel home and see your parents. But that comes

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every two weeks in the form of a paycheck to me. Right. But what the... Bloomberg sees the value in

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that. They hired me. Correct. So you're going to get a paycheck in the form of dollars, but those

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dollars are losing value in the things that you need in your life anywhere between two and 20%.

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Depends on what you want. You want a Caesar salad, 2%. You want a nice house, 20%. And so you need to

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find a way to persist and save and store that wealth. And you make a decision every single day,

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whether you know it or not. Unfortunately, because the dollar is being debased, everyone is a

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speculator here filming and watching us. And so you have to make that decision. And in my opinion,

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over the last 15 years, and it will continue to be so,

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Bitcoin is the best place to do that.

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Take the wealth you're creating today,

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bring it with you tomorrow.

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That's why when people say they're late to Bitcoin,

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it's a silly way to think about it.

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It's a savings technology.

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You're always stacking sats.

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You're always trying to save a little bit for tomorrow

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as long as you're alive.

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It's not this speculative thing

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that you tried to buy when it was low,

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and now you're just going to ride it high.

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You're never late because you're always trying

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to save your future energy.

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And Bitcoin's always going to be in demand,

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That's a scarce asset as long as governments and central banks continue to devalue their fiat currency.

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That certainly seems like the plan, doesn't it?

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So there's going to be demand for things like Bitcoin, gold, real estate, those types of things.

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And Bitcoin is one of the few things you can buy tiny fractions of at a time.

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As you receive a little bit extra, you know, $5, you put it into Bitcoin.

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You can do that with real estate or gold unless you willing to buy some sort of IOU abstract thing So Bitcoin will be in demand and it is built for this time

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And things are really lining up unless we destroy ourselves from the inside first.

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Well, the node wars are really the thing that is the topic, if you could call it that.

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It has really gotten to a point now that is pretty bad.

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The conflict between the Bitcoin Core folks and the Bitcoin Nots folks.

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Some are calling it the 2025 Spam Wars, other calling it node wars.

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I hate the stupid names.

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But it's probably what we will, we'll pick one of these to refer to it down the road.

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Because it is beginning to sort of echo the ideological rifts we saw during the 2017 block size wars.

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And at first I thought it was hyperbole to say that, but seeing the direction of the discourse this week, I'm sad to say it's getting to those levels.

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It's not there yet.

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So if you don't remember, at the heart of the dispute here is Bitcoin Core has a plan as a version 30 that comes out soon.

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they're removing the 80 byte data limit on Oppratern.

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You could override this before,

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but they're just removing the built-in limit.

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And core developers argue this is going to support innovation

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and open usage sort of reduces gatekeeping.

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Of course, the Nots folks argue this is going to be used for spam.

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It's going to be used for all kinds of things,

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perhaps illegal things that we don't want on the blockchain.

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And it reduces Bitcoin's role as a monetary system.

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And it may compromise scalability

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if it's filling up nodes, disks, and things like that.

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Perhaps.

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I will say this does, there's two sides to this,

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but it's gotten so,

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the arguments have gotten personal,

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the attacks have gotten very visceral.

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In the 14 years I've been an observer

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of the discourse of the Bitcoin community,

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there are a few other moments that feel this rough.

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And this one I think is building right now

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because there's a clock, there's a countdown ticking.

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Because these changes do land in Bitcoin Core 30,

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which has a target release date of around October 3rd, 2025.

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So the fighting is starting to get pretty dirty

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and there is some nonsense,

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some of which I want to address.

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It's really kind of coming from both sides

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because it's getting pretty heated.

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The one that I think is really disingenuous

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from the core side that I just have seen over and over again

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is this claim that Noughts is just one guy.

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You're crazy to trust your Bitcoin node with just one guy.

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Well, that's false.

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This is not how open source software works.

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nots is built in all of the work that goes into core so all of the work that goes into core

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is also in knots and then yes the things on top of core are maintained by a subset of people

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but it's all open source and verifiable i think also from the core side the argument that filters

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never work or don't work won't work i mean that's like a half truth yeah people can get around them

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but that's like saying email spam filters don't work.

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Yes, I still sometimes get spam,

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but my spam filter also blocks like 90% of it.

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So I'm not going to remove my email spam filter.

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It's a similar, it's, yeah, it's not great, but it works.

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Now, I think their argument, their counter argument

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that the ways around it right now centralized mining,

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that is an interesting and valid argument.

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And I think it's better than some of the personal attacks

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on folks like Luke and Mechanic.

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the argument that since you can't stop it just let it all through doesn't really sit well with

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people but if you if you reframe it to do you want to build in censorship technology to bitcoin

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i think people have a different feeling about that see in in my opinion core hasn't been good

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from the beginning about communicating the changes around op return and the knots folks haven't been

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great about staying on message at first it was about utxo bloat then they pivoted to well i don't

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want that in my mempool on my hard drive. And now they've pivoted to, well, what about illegal content?

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Now Operaturn will be large enough, you could just store illegal content directly in Operaturn.

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It sort of feels like a throw it all against the wall strategy and see what sticks.

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And I mean, you could make the argument that, you know, all these things are a problem,

212
00:15:12,743 --> 00:15:17,723
but neither one of them have really come to a refined message. And I think I could be wrong,

213
00:15:17,863 --> 00:15:21,483
and please boost in and tell me otherwise if you disagree. But the real debate, in my opinion,

214
00:15:21,483 --> 00:15:24,783
is do we want censorship mechanisms in Bitcoin?

215
00:15:25,783 --> 00:15:29,743
And the for it crowd, i.e. the folks that want some censorship,

216
00:15:29,943 --> 00:15:31,443
i.e. the nots folks that want filters,

217
00:15:32,043 --> 00:15:35,683
they argue people should have a say on what gets stored on their node in their home.

218
00:15:36,223 --> 00:15:39,283
And they argue that filters do work even if they don't stop everything.

219
00:15:39,983 --> 00:15:44,403
And they also argue that we should filter as much non-monetary uses as possible.

220
00:15:44,543 --> 00:15:48,323
That's sort of like, I think, the nots argument.

221
00:15:48,863 --> 00:15:50,863
And I think the Bitcoin core folks are saying,

222
00:15:50,863 --> 00:15:52,503
who gets to decide what is spam?

223
00:15:53,223 --> 00:15:54,623
Who's starting to make those decisions?

224
00:15:54,723 --> 00:15:56,143
Do you want the small group of developers

225
00:15:56,143 --> 00:15:57,043
making those decisions?

226
00:15:57,663 --> 00:15:59,943
And they'd argue that people are already using

227
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the blockchain to store JPEGs

228
00:16:01,543 --> 00:16:04,023
in a way that does centralize minor revenue.

229
00:16:04,523 --> 00:16:06,563
And they also argue that if you build censorship

230
00:16:06,563 --> 00:16:09,043
into Bitcoin Core down the road,

231
00:16:09,103 --> 00:16:10,443
they could get pressured by governments

232
00:16:10,443 --> 00:16:11,643
or BlackRock or somebody

233
00:16:11,643 --> 00:16:13,683
to use that censorship technology

234
00:16:13,683 --> 00:16:17,003
to determine maybe OFAC sanctioned transactions

235
00:16:17,003 --> 00:16:18,443
now need to get filtered.

236
00:16:19,383 --> 00:16:20,583
I think another version of the argument

237
00:16:20,583 --> 00:16:28,803
is, do you want Bitcoin to be a truly permissionless sort of chaos reigns? There's no way to stop users

238
00:16:28,803 --> 00:16:33,203
from embedding arbitrary data, or do you want it to be something that tries to use tools that forces

239
00:16:33,203 --> 00:16:38,723
it only for monetary use? That to me feels like the quintessential aspect of the debate.

240
00:16:40,043 --> 00:16:46,143
So here's my question in this debate. Could we be accidentally backing ourselves into a corner

241
00:16:46,143 --> 00:16:51,343
being anti-spam. I don't really like the idea of my node storing JPEGs. So just if you look at it

242
00:16:51,343 --> 00:16:56,503
from that angle, well, not seems attractive. But are we long-term perhaps enabling censorship of

243
00:16:56,503 --> 00:17:02,083
transactions? Would you live with JPEGs on the blockchain if it meant all transactions were

244
00:17:02,083 --> 00:17:06,783
truly censorship resistance and nobody's really determining what gets approved and what doesn't?

245
00:17:07,443 --> 00:17:12,223
Could you live with JPEGs in that scenario? Boost in, let me know what you think. I've been

246
00:17:12,223 --> 00:17:17,223
just sort of debating that internally as I read through all of this this week. And boy, has it been

247
00:17:17,223 --> 00:17:42,163
a mess. Coming up on the show, your boost, a fascinating research report by River, some updates

248
00:17:42,163 --> 00:17:47,083
you need to know about, a final clip of the week, and an important state of the network.

249
00:17:47,603 --> 00:17:50,863
So I just want to mention, you can support the show just by doing what you do.

250
00:17:51,843 --> 00:17:55,323
You want to buy some sats on River, one of the best ways to stack sats in the U.S.,

251
00:17:55,323 --> 00:18:00,263
use my link in the show notes. A little bit goes back towards the show. Now, if you're all about

252
00:18:00,263 --> 00:18:04,123
self-custody, you live in the Canadians or the Americas, well, I want to tell you about the

253
00:18:04,123 --> 00:18:10,563
Bitcoin Well. It's an amazing automatic self-custody Bitcoin platform. You want to spend some bitcoins

254
00:18:10,563 --> 00:18:11,563
you got on the Lightning Network,

255
00:18:11,663 --> 00:18:13,403
go to sats to gift card in just seconds.

256
00:18:13,663 --> 00:18:15,543
You can even log in with the Lightning Network.

257
00:18:16,423 --> 00:18:17,783
Check out the Bitcoin company.

258
00:18:18,183 --> 00:18:19,163
They're only Bitcoin.

259
00:18:19,283 --> 00:18:20,563
They're focused on great deals.

260
00:18:20,623 --> 00:18:22,103
They give you some sats back, all of that.

261
00:18:22,843 --> 00:18:24,823
Now, you want to stack sats

262
00:18:24,823 --> 00:18:26,463
while you just live your day-to-day life,

263
00:18:26,523 --> 00:18:28,003
paying your expenses, your bills,

264
00:18:28,183 --> 00:18:29,483
buying things and your whatnots?

265
00:18:29,583 --> 00:18:30,723
That's the Fold Card.

266
00:18:31,443 --> 00:18:32,343
Fold Card.

267
00:18:32,523 --> 00:18:33,723
Really popular in our audience.

268
00:18:33,843 --> 00:18:34,583
I use it every day.

269
00:18:35,443 --> 00:18:37,243
If you want to get access to your Bitcoin value

270
00:18:37,243 --> 00:18:38,063
without selling it,

271
00:18:38,723 --> 00:18:40,103
Salt Lending is a great way to go

272
00:18:40,103 --> 00:18:44,603
and they've recently introduced a program to help you purchase margin call protection.

273
00:18:45,283 --> 00:18:47,463
So you don't get margin called on your Bitcoins.

274
00:18:48,163 --> 00:18:49,683
Something I'm going to be looking into a lot more.

275
00:18:50,543 --> 00:18:52,563
Links to all of that in the show notes.

276
00:18:52,803 --> 00:18:53,743
Thanks for supporting the show.

277
00:19:10,103 --> 00:19:14,683
And now, as the French say, it is time for le boost.

278
00:19:16,123 --> 00:19:20,963
Another way to support the show directly is a boost using the Lightning Network.

279
00:19:21,183 --> 00:19:22,823
And OB is our baller booster.

280
00:19:22,963 --> 00:19:27,303
Getting it on sale this week, I'd say, with 25,430 sats.

281
00:19:27,303 --> 00:19:28,783
Hey, rich lobster!

282
00:19:30,843 --> 00:19:32,783
Thank you, OB. He says running knots.

283
00:19:33,643 --> 00:19:36,723
No other message than that. Just wanted you to know.

284
00:19:38,863 --> 00:19:39,623
Thanks, OB.

285
00:19:40,103 --> 00:19:45,863
Appreciate it. Galactic Starfish comes in with 2,000 sats. Everything's under control.

286
00:19:46,603 --> 00:19:52,423
I just purchased the Nerd Axe Plus and I got it set up mostly to experiment and vote for nots,

287
00:19:52,483 --> 00:19:57,223
of course. I purchased more Bitcoin right before it went on discount. Unfortunate timing. Oh, well,

288
00:19:57,663 --> 00:20:02,703
I'll just get back to stacking. You know, there, I got to say, Starfisher, eventually it will come

289
00:20:02,703 --> 00:20:06,403
back, right? So you probably, you probably will look at it in a year or so and kind of laugh and

290
00:20:06,403 --> 00:20:11,803
think it's cheap. That's my expert. I'll tell you a funny story is right before the last major bear

291
00:20:11,803 --> 00:20:17,643
market in December, Bitcoin was kind of ripping again. And for Christmas, I bought my son some,

292
00:20:17,843 --> 00:20:21,583
his first Bitcoin, this was a couple of years ago, right before the crash. And it was around like

293
00:20:21,583 --> 00:20:28,983
60,000 and then it crashed and it took like two years or something like that. He sat, that, that

294
00:20:28,983 --> 00:20:35,263
young boy huddled in the red for two years, but I think before he saw profit. So it'll eventually

295
00:20:35,263 --> 00:20:37,303
will come around. And then you laugh. You're like, oh, geez, now that

296
00:20:37,303 --> 00:20:39,063
seems cheap. Thank you for the boost.

297
00:20:39,223 --> 00:20:40,983
Appreciate it. Drekkar is here with

298
00:20:40,983 --> 00:20:43,123
4,400 sats.

299
00:20:43,283 --> 00:20:43,723
All right.

300
00:20:49,063 --> 00:20:51,283
No message, just some value. Oh, I guess

301
00:20:51,283 --> 00:20:53,003
there is a message. 4, 3,

302
00:20:53,243 --> 00:20:54,823
2, 1.

303
00:20:54,983 --> 00:20:57,323
Just pump the brakes right there. I don't know what that means,

304
00:20:57,483 --> 00:20:58,423
but I like it.

305
00:20:59,183 --> 00:21:01,263
I like it. All right, well, this doesn't seem

306
00:21:01,263 --> 00:21:03,723
right. Mac Jollers comes in with 17,000

307
00:21:03,723 --> 00:21:05,243
sats. Well, I'll be dipped.

308
00:21:05,903 --> 00:21:08,103
Call me a mad cow bullish,

309
00:21:08,503 --> 00:21:10,183
but does anyone else see how there's roughly

310
00:21:10,183 --> 00:21:12,163
21 million metric tons of gold?

311
00:21:13,003 --> 00:21:14,203
Cough, maybe 17-ish.

312
00:21:14,323 --> 00:21:16,083
And now there's 21 million Bitcoin?

313
00:21:16,363 --> 00:21:18,063
Cough, around 17 million-ish.

314
00:21:18,423 --> 00:21:19,483
You do the math.

315
00:21:20,303 --> 00:21:20,983
Yeah, man.

316
00:21:21,223 --> 00:21:23,123
When you factor in,

317
00:21:23,663 --> 00:21:25,223
which I think is kind of one of the things you're getting at,

318
00:21:25,863 --> 00:21:28,063
when you factor in the Bitcoin that's been lost,

319
00:21:28,703 --> 00:21:31,043
some of the Bitcoin that's locked up that may never sell,

320
00:21:31,043 --> 00:21:33,123
like your Satoshi coins or something,

321
00:21:33,923 --> 00:21:35,203
there's not 21 million Bitcoin.

322
00:21:35,263 --> 00:21:39,983
is there? It's probably more like 17 million Bitcoin. So it's even more scarce than people

323
00:21:39,983 --> 00:21:53,646
realize Thank you Mac Jollers Appreciate the boost Ace Ackerman here with a row of ducks 2 sats He says boost from a new Bitcoin

324
00:21:54,106 --> 00:21:55,366
nots node runner.

325
00:21:55,566 --> 00:21:56,126
All right.

326
00:21:56,966 --> 00:21:57,906
Well done, Ace.

327
00:21:58,626 --> 00:21:59,526
Thanks for sending a boost.

328
00:22:00,426 --> 00:22:03,886
Kiwi Bitcoin Guide's here with 4,567 sats.

329
00:22:08,826 --> 00:22:10,986
This is a vote for some bonus content

330
00:22:10,986 --> 00:22:11,946
about running nots.

331
00:22:11,946 --> 00:22:18,486
When the node count is nearly at 20% and the core team is starting to play dirty, it's time to really understand more about running nuts.

332
00:22:18,906 --> 00:22:21,026
A walkthrough guide and assessment on this would be super helpful.

333
00:22:21,686 --> 00:22:22,146
All right.

334
00:22:22,466 --> 00:22:24,266
So, Kiwi, I have a follow-up question.

335
00:22:24,826 --> 00:22:27,746
If I were going to do a guide, what OS should I do it on?

336
00:22:27,886 --> 00:22:29,666
I personally use NixBitcoin.

337
00:22:29,826 --> 00:22:31,606
I think that's probably too advanced for a guide.

338
00:22:32,446 --> 00:22:33,786
I know Umbral and Start9.

339
00:22:34,606 --> 00:22:41,246
I mean, I need some advice on when I do newbie content, what platform I should feature to get people started.

340
00:22:41,246 --> 00:22:43,546
or if it should be platform.

341
00:22:44,086 --> 00:22:45,566
I can't really do platform agnostically

342
00:22:45,566 --> 00:22:46,906
because I'll have to tell you how to install stuff.

343
00:22:47,626 --> 00:22:49,806
So that's where I've been hung up recently.

344
00:22:50,226 --> 00:22:51,446
I would love feedback on that.

345
00:22:51,526 --> 00:22:52,966
If you or anybody else out there has it,

346
00:22:53,246 --> 00:22:54,386
I would really appreciate that.

347
00:22:54,546 --> 00:22:56,546
You make me want to be a better man.

348
00:22:56,966 --> 00:22:57,906
Thanks for the boost, Kiwi.

349
00:22:59,246 --> 00:23:00,806
Haya Howells?

350
00:23:00,926 --> 00:23:01,066
No.

351
00:23:01,866 --> 00:23:04,706
Haya Lowe's comes in with 15,000 sats.

352
00:23:04,786 --> 00:23:05,646
I like you.

353
00:23:06,026 --> 00:23:07,046
You're a hot ticket.

354
00:23:07,126 --> 00:23:08,626
I like you even if I can't say your name.

355
00:23:08,986 --> 00:23:10,546
Doing a little catch up on the latest episodes.

356
00:23:10,546 --> 00:23:11,826
Your show's amazing and inspiring.

357
00:23:12,006 --> 00:23:14,386
It never is condescending or simply hyping.

358
00:23:14,506 --> 00:23:15,126
Keep up the great work.

359
00:23:15,206 --> 00:23:15,526
Thank you.

360
00:23:15,606 --> 00:23:16,366
That is one of my goals.

361
00:23:16,446 --> 00:23:17,126
I appreciate that.

362
00:23:17,786 --> 00:23:22,506
Lately, thinking about whether I should get rid of the buy button and simply call it an exchange into Bitcoin.

363
00:23:22,946 --> 00:23:26,546
I think the unit bias is the most hindering thing for potential new participants.

364
00:23:26,846 --> 00:23:27,126
Yes.

365
00:23:29,146 --> 00:23:31,386
I got so worked up, I bumped the microphone there.

366
00:23:31,986 --> 00:23:32,986
Yeah, I really agree.

367
00:23:33,066 --> 00:23:34,926
And I think also that's what makes people think they're too late.

368
00:23:35,626 --> 00:23:39,086
I just had this conversation with a gentleman.

369
00:23:39,086 --> 00:23:41,706
I'd say he's probably about 56, 55.

370
00:23:42,546 --> 00:23:43,686
And good guy.

371
00:23:44,126 --> 00:23:45,406
You know, he's still working.

372
00:23:45,686 --> 00:23:47,246
So he's got a little, and he's just a single guy.

373
00:23:47,306 --> 00:23:48,246
He's got a little extra money.

374
00:23:48,506 --> 00:23:51,046
And came up to tell me that he comes up.

375
00:23:51,786 --> 00:23:53,266
Hey, you're the Bitcoin guy, right?

376
00:23:53,306 --> 00:23:55,686
Because we know a mutual acquaintance in the family.

377
00:23:56,086 --> 00:23:57,966
You're the Bitcoin guy, right, Chris?

378
00:23:58,066 --> 00:23:59,546
I'm like, yeah, I guess.

379
00:23:59,546 --> 00:24:00,286
I guess that's me.

380
00:24:00,566 --> 00:24:01,926
It's just a Bitcoin guy.

381
00:24:02,066 --> 00:24:02,266
Okay.

382
00:24:03,086 --> 00:24:04,806
And then he starts telling me about how proud he is.

383
00:24:04,846 --> 00:24:07,866
He bought a whole bag of XRP because Bitcoin's too expensive.

384
00:24:07,866 --> 00:24:09,846
Oh, I missed the window on that, he says.

385
00:24:10,766 --> 00:24:12,906
But this XRP looks like it's a great price.

386
00:24:13,646 --> 00:24:15,306
So I agree with you there on the Unibias thing.

387
00:24:15,406 --> 00:24:19,726
He says, especially after guys like Jack Molle promote Bitcoin with the exit keeps getting more expensive.

388
00:24:20,006 --> 00:24:20,466
Yeah, that's true.

389
00:24:20,886 --> 00:24:24,986
In the end, it's not about how much Bitcoin you buy, but how much fiat you exchange for hard money.

390
00:24:25,426 --> 00:24:26,526
Love to hear your thoughts on that.

391
00:24:26,966 --> 00:24:28,586
The next boost will come from my Albi Hub.

392
00:24:28,826 --> 00:24:29,966
Oh, yeah, right.

393
00:24:30,626 --> 00:24:34,466
Think on Noster, listen on Fountain, and live on Bitcoin.

394
00:24:36,086 --> 00:24:37,486
That's fire, dude.

395
00:24:37,486 --> 00:24:38,366
Well done.

396
00:24:38,486 --> 00:24:39,286
I like that.

397
00:24:40,626 --> 00:24:43,666
Think on Noster, listen on Fountain, and live on Bitcoin.

398
00:24:44,026 --> 00:24:44,166
Woo!

399
00:24:44,966 --> 00:24:46,086
Yeah, this is a great boost.

400
00:24:46,326 --> 00:24:53,526
So, you know, when Jack says the exit is getting more expensive, yeah, he's using shorthand for buying a whole coin.

401
00:24:53,786 --> 00:24:55,846
And I do think we should stop thinking like that.

402
00:24:56,486 --> 00:24:58,946
I think we should stop thinking like you have to get to a whole coin.

403
00:24:59,426 --> 00:25:03,866
The idea is just about saving energy for the future, right?

404
00:25:03,866 --> 00:25:12,226
It's about protecting yourself against abasement, and we are living through a very historic time where that's a genuine threat.

405
00:25:13,166 --> 00:25:14,246
Is it, you know, sure.

406
00:25:15,146 --> 00:25:17,966
Should everybody try to aspire to be a whole coiner?

407
00:25:18,066 --> 00:25:18,986
I would say so.

408
00:25:19,686 --> 00:25:21,386
But I aspire to be a lot of things.

409
00:25:21,846 --> 00:25:24,206
I aspire to also be 50 pounds lighter, 30 pounds.

410
00:25:24,306 --> 00:25:26,726
I don't know, maybe not 50, 25 pounds lighter.

411
00:25:29,206 --> 00:25:33,226
So, yeah, I think you just have to buy as much as you can.

412
00:25:33,226 --> 00:25:39,326
And it's about taking fiat that is worth more now and will be worth less later and using it while it's worth more.

413
00:25:39,686 --> 00:25:41,046
Perhaps another way to look at it.

414
00:25:41,566 --> 00:25:45,786
But making it sound like if you, yeah, when you say the egg is getting more expensive, it does make it sound like you're missing out.

415
00:25:46,426 --> 00:25:50,286
Which is silly since Jack's business is kind of selling people Bitcoin.

416
00:25:51,006 --> 00:25:53,206
You should let him know about that, hey, let him know.

417
00:25:53,606 --> 00:25:54,326
Thanks for the boost.

418
00:25:54,746 --> 00:25:56,366
Hello there is here with a row of ducks.

419
00:25:57,286 --> 00:25:58,726
No messes, just the ducks.

420
00:25:58,786 --> 00:25:59,426
Thank you very much.

421
00:26:00,466 --> 00:26:02,426
Nakamato6102 is here with 3,500.

422
00:26:03,226 --> 00:26:04,686
100 sats. What the heck?

423
00:26:05,006 --> 00:26:07,406
Says, thank you for the value. Well, thank you very much.

424
00:26:07,506 --> 00:26:09,246
Put some macaroni and cheese on there, too.

425
00:26:09,346 --> 00:26:11,066
There's some mac and cheese for you as well.

426
00:26:11,726 --> 00:26:13,166
So Kelly's came in below the 2000

427
00:26:13,166 --> 00:26:15,366
sack cutoff. Pull him up. Said, great value for value

428
00:26:15,366 --> 00:26:16,806
episode. Thank you very much.

429
00:26:17,466 --> 00:26:19,206
And user 183

430
00:26:19,206 --> 00:26:21,146
said, here's some structural shift support.

431
00:26:21,446 --> 00:26:22,506
Happy sack Christmas.

432
00:26:23,786 --> 00:26:25,546
A structural shift is what it is.

433
00:26:25,846 --> 00:26:26,766
You gotta say it right.

434
00:26:27,346 --> 00:26:29,006
Oh, also, shout out to Pod

435
00:26:29,006 --> 00:26:31,146
Bun and maybe

436
00:26:31,146 --> 00:26:32,346
it was just Pod Bun this week.

437
00:26:32,346 --> 00:26:36,126
I might be missing a couple of others who also boosted the track at the end of the show.

438
00:26:36,826 --> 00:26:41,386
According to Apple, some of you on the Apple podcast platform have been cutting off during the music.

439
00:26:42,306 --> 00:26:44,786
Come on, man. It's a vibe. Don't do that.

440
00:26:45,446 --> 00:26:48,606
Thank you, everybody, who supported the show directly with a boost.

441
00:26:49,026 --> 00:26:51,066
38 of your stream stats as you listened.

442
00:26:51,406 --> 00:26:57,366
You collectively stacked 49,242 sets for episode 72 of This Week in Bitcoin.

443
00:26:57,626 --> 00:26:59,306
Thank you very much. I do appreciate that.

444
00:26:59,306 --> 00:27:04,526
together when you combine it with our boosters. A little light this week, but we've had some great

445
00:27:04,526 --> 00:27:09,086
weeks too, so honestly, I can't complain. And I do appreciate all of you combined together. It was

446
00:27:09,086 --> 00:27:22,966
131,507 sats. This is a Value for Value podcast. I put it out there for free. There are no sponsors

447
00:27:22,966 --> 00:27:28,826
because my focus is you and making you happy. One of the ways you send value back is through a boost.

448
00:27:29,146 --> 00:27:30,966
You can also become a member in Fountain.

449
00:27:31,326 --> 00:27:33,286
There's a system and a way to subscribe in there.

450
00:27:33,846 --> 00:27:35,486
And it gives you access to bonus content.

451
00:27:35,666 --> 00:27:37,686
And of course, you can also become a jupiter.party member.

452
00:27:39,366 --> 00:27:40,146
Thank you, everybody.

453
00:27:40,606 --> 00:27:42,446
Appreciate you for supporting this here show.

454
00:27:42,566 --> 00:27:45,466
And however you choose to do it, it does mean a lot.

455
00:27:45,546 --> 00:27:46,386
And the show continues.

456
00:27:46,466 --> 00:27:48,146
It's going to be a very busy September.

457
00:27:48,766 --> 00:27:50,586
I have some travel at the end of the month.

458
00:27:50,586 --> 00:27:54,646
But before that arrives, it's going to be crammed with story after story, I suspect.

459
00:27:54,906 --> 00:27:56,266
So let's get right back into it.

460
00:27:58,826 --> 00:28:16,046
Wasabi Wallet 2.7.0 was released this week.

461
00:28:16,046 --> 00:28:23,526
It's a nice one because it's one of these stabilization releases that also gave us a few nice new goodies and a fresh look.

462
00:28:23,786 --> 00:28:28,326
So I think the number one thing to talk about is the enhanced Bitcoin node integration.

463
00:28:28,826 --> 00:28:31,526
Bitcoin node connectivity is now more seamless, they say.

464
00:28:31,666 --> 00:28:34,686
RPC endpoint handling has been refined for smoother setup

465
00:28:34,686 --> 00:28:37,746
with support for Onion Service RPC interfaces.

466
00:28:37,966 --> 00:28:41,406
Additionally, Wasabi no longer bundles Bitcoin D binaries,

467
00:28:41,786 --> 00:28:44,866
while block downloading has been simplified and made more dependable.

468
00:28:44,866 --> 00:28:47,086
Now, I mentioned new UI goodies.

469
00:28:47,186 --> 00:28:50,366
They have a refreshed UI with new icons and animations.

470
00:28:51,266 --> 00:28:51,846
For this, they write,

471
00:28:51,926 --> 00:28:53,946
The interface has been given a polished update.

472
00:28:54,426 --> 00:28:57,146
Subtle animations and balanced color schemes breathe new life

473
00:28:57,146 --> 00:29:01,146
into Wasabi's design, making it both cleaner and less aggressive.

474
00:29:02,066 --> 00:29:02,666
Yeah, okay.

475
00:29:03,026 --> 00:29:03,406
All right.

476
00:29:03,586 --> 00:29:04,406
Either way, nice to see.

477
00:29:05,226 --> 00:29:07,206
More new features linked in the show notes.

478
00:29:08,166 --> 00:29:11,926
River has their research report on business owners buying Bitcoin.

479
00:29:12,606 --> 00:29:16,586
The big takeaway headline is that some business owners that are River clients

480
00:29:16,586 --> 00:29:20,586
are putting 22% of their profits into Bitcoin.

481
00:29:21,246 --> 00:29:23,306
So here's a couple of the interesting things I took away.

482
00:29:23,786 --> 00:29:25,906
The entire PDF will be linked in the show notes.

483
00:29:26,586 --> 00:29:30,066
River writes that businesses now hold 6% of all Bitcoin.

484
00:29:30,686 --> 00:29:33,146
6% of all Bitcoin is held by businesses.

485
00:29:33,786 --> 00:29:38,646
Still around 61% for just the plebs, but it's a 21x jump since 2020.

486
00:29:39,626 --> 00:29:47,386
2025 inflows have smashed records so far, already 12.5 billion more than all of 2024.

487
00:29:48,066 --> 00:29:50,946
Halfway into the year and we're already 12.5 billion more.

488
00:29:51,646 --> 00:29:54,246
The companies they say that are using River are stacking hard.

489
00:29:54,246 --> 00:29:57,366
on average 22% of net income is going into Bitcoin.

490
00:29:58,286 --> 00:30:00,586
They say the main reason is these businesses

491
00:30:00,586 --> 00:30:03,026
see Bitcoin as inflation insurance.

492
00:30:03,746 --> 00:30:05,826
They also like this 24-7 liquidity

493
00:30:05,826 --> 00:30:09,086
and no third-party risk.

494
00:30:09,966 --> 00:30:12,126
Treasury firms seem to be buying on average

495
00:30:12,126 --> 00:30:13,486
around, get this guys,

496
00:30:14,406 --> 00:30:17,726
1,400 Bitcoin a day.

497
00:30:18,446 --> 00:30:20,126
Go look up how much Bitcoin is made a day.

498
00:30:20,726 --> 00:30:23,566
And they're buying about 1,000 more a day

499
00:30:23,566 --> 00:30:29,666
than it is made. Strategy alone is sitting on around $70 billion in Bitcoin. They also say that

500
00:30:29,666 --> 00:30:34,506
they saw a noticeable trend in behavior changes after the U.S. government started talking about

501
00:30:34,506 --> 00:30:40,146
a strategic Bitcoin reserve, not so much because of the reserve itself, but because business clients

502
00:30:40,146 --> 00:30:45,846
view it as, well, now a Bitcoin ban is off the table. Also, they say businesses are viewing the

503
00:30:45,846 --> 00:30:51,606
volatility more like gold levels. And volatility was one of the largest excuses for them to avoid

504
00:30:51,606 --> 00:30:57,886
Bitcoin. And it's pretty interesting. I guess the median is about 10% of small businesses that are

505
00:30:57,886 --> 00:31:05,186
buying Bitcoin are putting, I should say of their customers, there's a meeting of about 10% of them

506
00:31:05,186 --> 00:31:11,386
that are just going all in. Some of them are just nuts. But the average is 22% of net profits are

507
00:31:11,386 --> 00:31:16,466
going into Bitcoin. They also broke down the different areas. This paper is fascinating,

508
00:31:16,606 --> 00:31:21,306
you guys. It's really, I mean, you got to scroll through a lot. But real estate is the number one

509
00:31:21,306 --> 00:31:26,826
businesses on river by industry. Real estate. The number two customer by industry is actually

510
00:31:26,826 --> 00:31:31,886
other Bitcoin service companies. They're storing their treasury or whatever it is on river.

511
00:31:32,726 --> 00:31:36,946
Services and hospitality is number three. Finance, number four. Software, number five. Consulting,

512
00:31:36,946 --> 00:31:45,226
six. Healthcare, seven. Construction, eight. Nonprofit, nine. And consumer products is the

513
00:31:45,226 --> 00:31:53,366
10th category. There's 158 public companies with Bitcoin holdings. How about that? Estimated

514
00:31:53,366 --> 00:31:59,126
percentage of the businesses that self-custody their Bitcoin, the estimated percentage of the

515
00:31:59,126 --> 00:32:07,486
businesses that self-custody their Bitcoin, 25.7%. Over 3,000 businesses alone are just using River.

516
00:32:07,486 --> 00:32:13,806
okay so you can see that's the real story there is the smaller businesses

517
00:32:13,806 --> 00:32:19,586
i think when you look in the health in particular dentists seem to be stacking a lot of bitcoin

518
00:32:19,586 --> 00:32:25,226
does anybody know why that is why are dentists in the health care industry saw all in on bitcoin

519
00:32:25,226 --> 00:32:28,426
what do they know maybe they know teeth aren't a story value

520
00:32:28,426 --> 00:32:50,309
All right we already at the final clip of the week because a lot of the news has just been node wars and infighting and debunking various claims thrown at each other

521
00:32:51,029 --> 00:32:54,309
And not a lot of focus on the building or the news this week.

522
00:32:54,369 --> 00:33:01,248
But I have a sense that's all about to change regardless if Bitcoin is focused on it or not because the macro volatility is wild.

523
00:33:01,248 --> 00:33:11,149
So it seemed like for our final clip of the week, before we get to all of that, I want to play something that I have been trying to get on the show probably since episode one.

524
00:33:11,468 --> 00:33:16,669
This is Peter Van Valkenburg, and he has an excellent explanation of Bitcoin.

525
00:33:17,188 --> 00:33:24,688
In July of 2022, he sat in front of the Banking, Housing, and Urban Affairs Committee and really nailed it.

526
00:33:24,688 --> 00:33:30,589
And I'm just going to play a selection of it because I want us to remember the things that really matter right now.

527
00:33:31,248 --> 00:33:37,248
As Bitcoiners are hurting other Bitcoiners, let's focus on the things that really matter around Bitcoin.

528
00:33:37,369 --> 00:33:40,109
And I think Peter nails that. The full clip will be in the show notes.

529
00:33:41,549 --> 00:33:44,589
Chairman Crapo, Ranking Member Brown, members of the committee.

530
00:33:45,208 --> 00:33:47,389
Thank you for the opportunity to speak with you today.

531
00:33:47,389 --> 00:33:59,909
My name is Peter Van Valkenburgh, and I'm the Director of Research at CoinCenter, an independent nonprofit focused on the public policy issues affecting cryptocurrency and public blockchain networks.

532
00:34:00,708 --> 00:34:01,488
What is Bitcoin?

533
00:34:02,329 --> 00:34:04,508
Bitcoin is the world's first cryptocurrency,

534
00:34:05,109 --> 00:34:09,589
and it works because of the world's first public blockchain network.

535
00:34:10,249 --> 00:34:11,689
What does Bitcoin do?

536
00:34:12,428 --> 00:34:13,508
It's simple.

537
00:34:13,988 --> 00:34:18,529
It lets you send and receive value to and from anyone in the world

538
00:34:18,529 --> 00:34:22,189
using nothing more than a computer and an internet connection.

539
00:34:22,669 --> 00:34:24,508
Now, why is it revolutionary?

540
00:34:25,249 --> 00:34:29,648
Because unlike every other tool for sending money over the internet,

541
00:34:29,908 --> 00:34:32,508
It works without the need to trust a middleman.

542
00:34:33,109 --> 00:34:41,628
The lack of any corporation in between means that Bitcoin is the world's first public digital payments infrastructure.

543
00:34:41,908 --> 00:34:48,928
And by public, I simply mean available to all and not owned by any single entity.

544
00:34:49,569 --> 00:34:54,908
Now, we have public infrastructure for information, for websites, for email.

545
00:34:55,349 --> 00:34:56,329
It's called the Internet.

546
00:34:56,329 --> 00:35:02,749
But the only public payments infrastructure that we have is cash, as in paper money.

547
00:35:03,169 --> 00:35:06,289
And it only works in face-to-face transactions.

548
00:35:07,609 --> 00:35:12,269
Before Bitcoin, if you wanted to pay someone remotely, over the phone or the internet,

549
00:35:12,488 --> 00:35:14,769
then you could not use public infrastructure.

550
00:35:15,209 --> 00:35:21,089
You would rely on a private bank to open their books and add a ledger entry that debits you

551
00:35:21,089 --> 00:35:22,569
and credits the person you're paying.

552
00:35:22,569 --> 00:35:28,329
And if you both don't use the same bank, well then there'll be multiple banks and multiple ledger entries in between.

553
00:35:29,209 --> 00:35:37,609
With Bitcoin, the ledger is the public blockchain, and anyone can add an entry to that ledger, transferring their Bitcoins to someone else.

554
00:35:37,888 --> 00:35:51,369
And anyone, regardless of their nationality, race, religion, gender, sex, or creditworthiness, can for absolutely no cost create a Bitcoin address in order to receive payments digitally.

555
00:35:52,209 --> 00:35:57,508
Bitcoin is the world's first globally accessible public money.

556
00:35:58,249 --> 00:35:58,948
Is it perfect?

557
00:35:59,869 --> 00:36:00,289
No.

558
00:36:01,089 --> 00:36:03,928
Neither was email when it was invented in 1972.

559
00:36:05,089 --> 00:36:08,049
Bitcoin's not the best money on every margin.

560
00:36:08,369 --> 00:36:10,008
It's not yet accepted everywhere.

561
00:36:10,589 --> 00:36:15,508
It's not used often to quote prices, and it's not always a stable store of value.

562
00:36:15,508 --> 00:36:21,029
But it is working, and the mere fact that it works without trusted intermediaries is

563
00:36:21,029 --> 00:36:26,428
amazing. It's a computer science breakthrough, and it will be as significant for freedom,

564
00:36:26,789 --> 00:36:29,729
prosperity, and human flourishing as the birth of the internet.

565
00:36:40,549 --> 00:36:46,589
Okay, let's check in on the state of the network as I wrap up. Block height 913.51,

566
00:36:46,589 --> 00:36:51,908
and the Bitcoin price to USD is $111,860.

567
00:36:52,349 --> 00:36:57,369
That puts the sats per dollars at 864 sats to one US dollar.

568
00:36:58,089 --> 00:37:04,968
We are officially at 10.1% down from our all-time high of $124,460

569
00:37:04,968 --> 00:37:08,569
just a mere 20 days ago.

570
00:37:08,809 --> 00:37:10,229
Feels like it's been longer than that.

571
00:37:10,269 --> 00:37:11,749
It's been a rough 20 days.

572
00:37:11,749 --> 00:37:20,529
Our retarget date is set for September 4th, and it is estimated the difficulty will be adjusted upwards by 5.7%.

573
00:37:20,529 --> 00:37:24,148
It's a big jump in reachable nodes since I checked earlier today.

574
00:37:24,329 --> 00:37:27,749
Current reachable nodes at 23,549.

575
00:37:28,388 --> 00:37:28,908
Interesting.

576
00:37:30,229 --> 00:37:33,468
That's about 500 nodes that have apparently come online since I checked this morning.

577
00:37:33,468 --> 00:37:43,269
Bitcoin knots sitting at 17.6% of the network, nearly 18% of the network, making it nearly the

578
00:37:43,269 --> 00:37:48,508
number two most popular node software on the Bitcoin network right now. The number to watch

579
00:37:48,508 --> 00:37:55,408
will be to see how version 30 gets adopted. That'll be fascinating. There is so much to get

580
00:37:55,408 --> 00:37:59,769
into. It's going to be a wild month and the Bitcoin network is strong.

581
00:38:03,468 --> 00:38:10,029
Well, if you made it this far, links at thisweekinbitcoin.show.

582
00:38:10,448 --> 00:38:17,209
My goal is to try to cover things without getting distracted by the emotions or the drama and really just tell you what's happening out there.

583
00:38:17,209 --> 00:38:24,189
And this has been a tricky one because the emotions are very high right now as version 30 gets closer and closer.

584
00:38:24,408 --> 00:38:25,968
But I try to focus on the signal.

585
00:38:26,049 --> 00:38:27,809
So let me know how I did with a boost.

586
00:38:28,029 --> 00:38:33,448
And of course, if I miss something or you just have thoughts or follow up on something I did cover,

587
00:38:33,468 --> 00:38:37,249
boost in and let me know what that might be or what else you'd like to hear from the show.

588
00:38:37,648 --> 00:38:42,108
And if you have any suggestions for bonus content, I really appreciate when you guys do come in with

589
00:38:42,108 --> 00:38:46,648
that. And then last but not least, I've asked you to weigh in on the spam debate. Could we be

590
00:38:46,648 --> 00:38:51,269
accidentally backing ourselves into a corner in the name of preventing JPEGs on the blockchain?

591
00:38:51,269 --> 00:38:57,829
In other words, do we begin to enable a culture of censorship just to fight JPEGs? Is it worth it?

592
00:38:57,928 --> 00:39:03,148
Would you live with JPEGs on the blockchain or is that assessment off the mark? Boost in there and

593
00:39:03,148 --> 00:39:07,549
let me know what you think too. Now I am going to leave you with a value for value track. So that

594
00:39:07,549 --> 00:39:13,849
means once the music starts, if you're in a podcasting 2.0 app, 95% of your boost will go

595
00:39:13,849 --> 00:39:19,508
to the artist or anybody else in their team that they want to go to. And so this week, it's the

596
00:39:19,508 --> 00:39:25,349
first single from an upcoming full length album titled This World Ain't Mine to Change. It's going

597
00:39:25,349 --> 00:39:30,189
to be out on October 24th, and today's track is That's Okay.

598
00:39:30,189 --> 00:39:33,908
They say it's a young man's game.

599
00:39:34,209 --> 00:39:39,329
Well, I'm sitting on this bench, feeling my age.

600
00:39:39,408 --> 00:39:44,589
And if I've got a part to play, it ain't set a stage.

601
00:39:45,229 --> 00:39:46,269
And that's okay.

602
00:39:47,628 --> 00:39:51,108
They say it's a rigged game.

603
00:39:51,888 --> 00:39:54,008
But I ain't here to play.

604
00:39:54,008 --> 00:39:56,148
There's far too much a stain

605
00:39:56,148 --> 00:39:59,928
Cause there are souls that are growing cold

606
00:39:59,928 --> 00:40:02,729
And all we've got is today

607
00:40:02,729 --> 00:40:04,729
Gotta make that okay

608
00:40:04,729 --> 00:40:26,269
His thoughts are not our thoughts

609
00:40:26,269 --> 00:40:31,488
His ways they sure ain't our ways

610
00:40:31,488 --> 00:40:33,829
For his word goes out

611
00:40:33,829 --> 00:40:39,869
Water in the ground, cause the sun to sprout, and others to drown.

612
00:40:41,869 --> 00:40:45,428
Who knows what tomorrow brings?

613
00:40:47,369 --> 00:40:54,689
Only he can tell us what any of it means.

614
00:40:56,689 --> 00:40:59,508
Oh, come what may.

615
00:40:59,508 --> 00:41:04,549
I'll just be here in my lane

616
00:41:04,549 --> 00:41:08,988
Giving thanks and singing praise

617
00:41:08,988 --> 00:41:12,749
This world ain't mine, I'm changing, that's okay

618
00:41:29,508 --> 00:41:34,588
There'll be a final day

619
00:41:34,588 --> 00:41:37,669
That the song is played

620
00:41:37,669 --> 00:41:39,988
Like the grass that fades

621
00:41:39,988 --> 00:41:42,108
And I'll go to my grave

622
00:41:42,108 --> 00:41:44,448
And you won't know my name

623
00:41:44,448 --> 00:41:48,209
That's okay, that's okay

624
00:41:48,209 --> 00:41:55,588
Oh, come what may

625
00:41:55,588 --> 00:42:00,269
I'll just be here in my lane

626
00:42:00,269 --> 00:42:04,709
Giving thanks and singing praise

627
00:42:04,709 --> 00:42:08,829
This world ain't mine to change and that's okay

628
00:42:08,829 --> 00:42:12,849
Oh come one day

629
00:42:12,849 --> 00:42:17,648
I'll just be here in my lane

630
00:42:17,648 --> 00:42:21,529
With a gospel to proclaim

631
00:42:21,529 --> 00:42:25,869
Hearts are mine, they're changing, that's okay

632
00:42:25,869 --> 00:42:30,169
The world ain't mine, they're changing, that's okay

633
00:42:30,169 --> 00:42:34,549
It's you who reign in, that's okay

634
00:42:51,529 --> 00:43:21,508
Thank you.

635
00:43:21,529 --> 00:43:23,869
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636
00:43:25,809 --> 00:43:31,869
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