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Welcome in to This Week in Bitcoin, episode 63.

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

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Just got back from the family road trip.

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And as per tradition, I do have a bit of a head cold.

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Of course, that's always the way these things go.

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But I did get a chance to reflect a bit on the show while driving.

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Lots of good thinking time.

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I think it's as good as like shower time, really.

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And one of the big things I kept coming back to was a goal with this show is to help us deal with a fundamental truth that we live in a late stage fiat society.

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And there's a couple of really important things that come along with that.

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And one of them is if you don't invest some of your income, you're never going to get ahead.

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You're never going to live financially sovereign, at least not with just a W-2 income, unless you're like a, you know, a meta AI developer.

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Because your investments needed to return over 40% in the last five years to beat dollar debasement and cost of living increases.

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Or I'll put it another way.

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Since 2020, the U.S. dollar supply has grown 40%.

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You got to be pretty smart to beat 40%.

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Maybe you did it with playing the stock market.

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Maybe you could.

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Maybe you tread water.

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It's complicated.

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And simply put, not something most of us have the time or energy to figure out.

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Job, life, things like that are plenty.

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But we can mine fiat and buy Bitcoin as much or as little as we want or can, when we can.

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And we're really the first generation to have access to this.

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The generation's alive right now.

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And it's the hardest asset known to man as it's building out its network effect.

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As that network effect builds out, it gives all of us access to a life raft bit by bit.

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And I really think we're at a sink or swim moment.

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Like if you haven't wrapped your head around this, that it's about assets, not about your W-2,

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you're not going to be positioned for what's coming over the next five to 10 years.

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And the reality is for Bitcoiners and those trying to navigate this, trying to become Bitcoiners,

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the noise is about to get so much worse.

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You might think you know noise.

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You might think you know distraction.

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Altcoins, ICOs, NFTs, ploy after ploy to suck up liquidity.

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And ultimately, they usually go and buy the Bitcoin that you should have been stacking all along.

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But what Bitcoiners have been navigating since the creation of altcoins is about to look like amateur league stuff.

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The industrialized affinity scams and grifts are coming,

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and they are powered and backed by the new stablecoin legislation,

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emboldened, if you will.

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And you need to prepare to watch your heroes turn into villains.

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And it's bad.

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The pumping is bad.

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I'm going to do a little bit of this crap right now

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so we can get through it and move on.

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And we start with Tom Lee, one of the OG Bitcoin bulls on CNBC,

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and how far he has fallen as he becomes an altcoiner.

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And this is some big news. It's kind of complicated, but probably suffice to say that you all are doing basically what MicroStrategy did with Ether.

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You're going to make Ether the purchases that you buy through this. You're going to set this whole thing up like this.

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You want to explain a little bit?

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Yeah, glad to. You know, I'm I'm still a big fan of Bitcoin because I think it is, you know, digital gold.

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But what we've seen in the last, really in 2025, is the financial services industry and crypto are converging.

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And it really started with stablecoins, which is the chat GPT of crypto, right?

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Because it's viral adoption by...

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Stablecoins are the chat GPT of crypto?

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See, he starts losing me here.

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That's a real bad analogy.

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Started with stablecoins, which is the chat GPT of crypto, right?

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because it's viral adoption by consumers, businesses, banks, and now even Visa.

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Underneath the stablecoin industry is Ethereum.

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That is really like the backbone and architecture of stablecoins.

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Ah, here we go.

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And I warned you about this.

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The legitimacy of stablecoins means it's going to have to legitimize some network they run on.

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Right now, Ethereum, because it has, I guess, the most history,

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it has some of the most industry support,

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it's the leading candidate at the moment.

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underneath the stablecoin industry is Ethereum.

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That is really like the backbone and architecture of stablecoins.

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So it's important to create a project that essentially accumulates Ethereum

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to essentially protect and have some influence on the network.

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So that's why we're creating...

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Oh, there it is.

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This is why they don't care about Tether over Lightning.

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Because in the Ethereum world, you can buy a big bag, you can stake,

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and, as he just put it, have some control over the network,

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which is the antithesis to what Bitcoin is about

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and why it doesn't appeal to them.

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There isn't a grift there.

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There isn't a spot for them to play the middleman

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if we're just doing tether over lightning.

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Architecture of stablecoins.

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So it's important to create a project

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that essentially accumulates Ethereum

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to essentially protect and have some influence on the network.

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So that's why we're creating this treasury vehicle to buy Ethereum.

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the more Ethereum that's accumulated, the more secure the network is. And I think it's also

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sort of the architecture that future banks will have. You know, when Goldman

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issues a stablecoin and JP Morgan doing an Ethereum as a layer one blockchain,

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they're going to want to secure it by staking Ethereum. So we're...

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So he thinks it's bullish for ETH because eventually it's going to be in all these

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different banks' best interests to accumulate a bunch of ETH so they have control and say over

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the network. What a horrible design proof of staking is. If you think about it, this just is

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designed for the rich to control the network from the very beginning. And that's the play we're

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beginning to see here. They find that attractive. It's something Bitcoin doesn't offer them.

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We're trying to get in front of that by creating a treasury.

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Just so I understand, it's safer if you own more of it. Explain why that would be.

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Well, Ethereum is a proof of stake network. So unlike Bitcoin, which is proof of work,

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and miners do all the work for you, and that's why you have decentralized trust.

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In Ethereum, it's important for these entities to essentially validate transactions.

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So by becoming a staking entity, you're sort of securing the fidelity of stablecoins.

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So you don't want a stablecoin like USDC or USDT to be on a blockchain that's outside the purview of the U.S.

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And so I think Ethereum is a high quality, the second largest blockchain network, and it's over 51% of stable coins and 30% of all fees on Ethereum are actually stable coin revenue.

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The problem with the ETH bet, and you can see all the things that they find make it attractive, that they can control it, that it's heavily under the purview of the U.S.

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Those are all things that Bitcoiners don't like.

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It's just the opposite.

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These guys don't care about that stuff.

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That stuff they find to be beneficial.

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They love it.

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It's the next best thing to owning their own blockchain, which we're also going to see an explosion of from different companies, banks, everybody that can afford an engineering team.

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at scale that's in the financial industry is probably going to launch a blockchain.

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And of course, Robinhood is right out of the gate launching their own blockchain, which

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is essentially a layer two on top of Ethereum.

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Ah, this thing, this thing here.

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Well, that would be the blockchain in case you couldn't tell from my amazing sketch or

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blueprint, really.

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This is Robinhood's CEO dressed as a Bond villain giving a presentation about their new

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IRL assets on blockchain.

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Right now, it's Arbitrum, but we've been working on something really special.

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And it's still a little bit early, but I think there's no better time to share with you all than right now.

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Introducing the Robinhood chain.

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This is the first blockchain optimized for real-world assets, from real estate to art to stocks,

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with the right technology and regulatory infrastructure needed to carry the entire traditional financial system on its back into the future.

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And our goal with stock token on the Robinhood chain is that in the near future, you will be able to seamlessly transfer your assets in seconds.

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If you thought what we saw before was a grift and sucked liquidity out of Bitcoin, we have not seen anything yet.

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This is at a whole new scale.

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When they start putting real-world assets on blockchains and selling you tokenized exposure to real-world price action, I mean, this is going to suck up so much money.

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And your ability to trade will not be reliant on any individual broker or counterparty.

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So long as the blockchain is up and processing transactions, you will maintain access to your hard-earned access.

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So long as the banks that own us don't make us force a shutdown or reversal of the blockchain, everything's good.

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Very, very important.

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I feel that as the benefits of this technology become increasingly clear in the coming years,

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the pressure and incentive for more and more firms to adopt it will continue to grow.

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So we'll continue to work with regulators and bring the entire Robinhood ecosystem on chain,

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starting with tokenized assets like stocks, perpetual futures, DeFi, of course, spot crypto

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trading. And from there, we're planning to open the doors much wider. So, and we've been talking

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to a lot of the developers in the room about this already. If you're interested in being

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one of our first developers, we would like to open the doors much wider. So please reach out to us.

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Definitely reach out, guys. Reach out, you know, and get in on this. It's a move beyond Bitcoin,

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they say. You see that Bitcoin's a thing. It's a foundation of the crypto market,

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but we're moving beyond Bitcoin. That's their actual line. They're actually saying that.

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I believe it will make it easier to invest in American companies if you're outside the world.

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It will also bring the markets into 24-7 and fully on-chain and get all the benefits that crypto technology levies on these traditional assets.

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So I think it's time to move beyond Bitcoin and meme coins into real-world assets that exhibit fundamental utility.

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I think the most insulting thing is putting Bitcoin and meme coins in the same sentence.

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And this is going to be a whole new level of degeneracy.

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It's already risky and already a mess right now.

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Open AI distancing itself now from Robinhood's latest push into crypto after the trading platform started offering what they're calling tokenized shares of SpaceX, which, of course, is a private company to users, though.

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The users and I should say are only in Europe.

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So this is not available to customers of Robinhood here in the United States.

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In a post on X, though, OpenAI saying the following says these OpenAI tokens are not OpenAI equity.

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We did not partner with Robinhood.

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We're not involved in this.

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We do not endorse this.

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Told users, please be careful.

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Now, in response to...

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Now, before I go on, I want to remind you what I opened with.

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We now live in a end-stage fiat society where you need to invest to get ahead.

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And these corporations are essentially preying on that.

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They're vultures, and they're preying on that.

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And they're getting you to buy into all of this stupid stuff when all you need to do

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is buy Bitcoin, hold the Bitcoin, and shut up.

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Buy the Bitcoin, hold the Bitcoin, and shut up.

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That's all you need to do.

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You don't need to buy some sort of tokenized exposure to SpaceX

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that's somehow linked to the price action of a private stock.

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None of that.

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It's ridiculous, and it's all a distraction.

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They want your money, and if you just go buy Bitcoin,

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they don't make a bunch of money.

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The OpenAI's post, a Robinhood spokesperson saying,

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quote, these tokens give retail investors indirect exposure to private markets. Opening up access

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are enabled by Robinhood's ownership stake in a special purpose vehicle. We'll explain how this

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works in a moment. See, it's price exposure. What they're giving you on their blockchain

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is price exposure. It's essentially, you know, it's a version of ETFing everything,

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but putting it on a blockchain. Robinhood stock hitting a new high on Monday when it made

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that new token and blockchain announcement. U.S. users, as we mentioned, cannot access these tokens

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because of regulatory restrictions. We talked to Paul Atkins, the new chair of the SEC, a little

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bit about this token issue. And so what's really happening, and you can speak to it probably even

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better than I can, is there's private companies, SpaceX, OpenAI, what have you. Those are not

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available. Those shares are technically not available to the public because they're private.

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They don't have the same disclosure as a public company.

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What a whole number of companies are doing, including Robinhood, is effectively trying to create almost like a derivative of the underlying asset.

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They own the underlying asset through oftentimes a special purpose vehicle or some other kind of mechanism.

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And they're saying, we're going to basically break that special purpose vehicle up and then we're going to into pieces.

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But not really because we're going to keep it.

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We're going to create sort of derivative pieces that track.

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It's almost like a tracking stock of that.

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I just don't understand the appeal.

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It's risky.

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There's multiple levels of risk in there.

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The third-party risk is insane.

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But it's coming.

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And they're going to target newbies so hard.

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The wife and I received a text message while we're on the road.

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Hey, what do you know about XRP?

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This is from a family member, and this is the second time something like this has come in.

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total no-coiners. They don't know anything about crypto. They've probably heard the word Bitcoin

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before. They've never bought any Bitcoin. They've never done any of this. They hear about XRP and

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Ripple, and they want to buy some. And I've really, I've wondered, how do they get exposure like this?

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And it is through certain media. I'll talk about that more later. But I asked her, I said, you know,

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this is, I explained what it all is and what a scam it is. And then I said, you know, do you mind

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telling me how you found out about this. And she said, quite honestly, there's a person at her

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church that is the Ripple person that's telling everybody to go buy some Ripple and XRP. And it's

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these trusted sources that people tune into. And so it's interesting when you see the different

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financial press outlets start going in a new direction. And there definitely is a big shift.

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The hyping of the altcoins has begun. And CNBC plays their role. The Wall Street Journal plays

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a role. They all play a role. And they're platforming everybody they can to talk about

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everything but Bitcoin. CNBC brought on Ethereum's co-founder, which is gross that there's a co-founder.

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He's the guy that did like the business side of stuff and set up consensus and all of that.

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He came on. He is super low energy and he's able to essentially define the Bitcoin value proposition,

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but then struggles to define the Ethereum value proposition. And he's the co-founder.

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Ethereum catching the attention of major financial institutions which are increasingly building on the blockchain and processing about 24 million transactions daily The rise of tokenization and stablecoin hype also helping Ethereum link stocks Joining us now to discuss the crypto market is Ethereum co

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This is a funny thing they do too. Did you hear it there? She said the hype, the hype around all

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this. You're creating the hype. You're creating the hype. The hype around all of this is leading

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to a pump. Yeah, because you're hyping it. Million transactions daily. The rise of tokenization

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and stablecoin hype, also helping Ethereum link stocks. Joining us now to discuss the crypto

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market is Ethereum co-founder, Joe Lubin. Joe, welcome. We were talking about this in the break,

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what's going on with Ether. If you take a look at the ratio, Ether to BTC ratio,

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it's been pretty much coming down for the past few years. Why is that? Why do you think there's

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that discrepancy? So Bitcoin has had a very clear narrative and it's got a value proposition that

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people can understand and get behind. It had Michael Saylor doing a really good job

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growing the brand and buying lots of Bitcoin. And Ethereum, so Bitcoin's value proposition is now,

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Ethereum's value proposition has been perceived to be in the future.

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I think it's a little bit dismissive to say it's Michael Saylor alone. That's kind of a

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pathetic cop-out. But the recognition of digital gold, I think, is accurate. Ethereum, though,

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he says, Ethereum's proposition is about the future. We've been building scalable infrastructure

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layers of enabling infrastructure.

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So they've been building scalable infrastructure that nobody uses.

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For about a decade, anticipating that all the activity of the internet and the web

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will move to Web 3.

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Oh, Web 3.

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So we're still on Web 3.

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3 is really the natural evolution of the web protocols,

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sort of a re-decentralization of the World Wide Web.

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Can you believe after a couple of years, they haven't come up with a better narrative?

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They're still pushing Web3 from the consensus place, the Ethereum founders.

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Really?

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...of the web protocols, sort of a re-decentralization of the World Wide Web.

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So Ethereum is scalable enough, affordable enough, legal enough in the United States.

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It's legal enough, you know.

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That's one of the things I always say.

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It's a great investment because it's legal enough.

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I can't believe they're not better at this.

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First of all, none of these finance pros want a decentralized web.

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They love Amazon.

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They love the Meg7.

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They love centralization.

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They're only interested in stable coins and then centralizing the control of the Ethereum network by staking.

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That's the only value prop they find in Ethereum.

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And this guy can't figure out a way to spin that into like some sort of positive narrative that's approachable to people.

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He's still talking about Web3 and decentralized websites.

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Of the web protocols, sort of a re-decentralization of the World Wide Web.

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So Ethereum is scalable enough, affordable enough, legal enough in the United States.

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It's very usable right now.

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Yeah, as long as you don't mind paying the gas fee.

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The applications, and we haven't had the consumer end users and the enterprise end users because former chair Gensler made it really unattractive to use.

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I see. I see. It's Gary's fault.

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If it wasn't for Gary, we'd have more ETH users.

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But now that Gary's gone, I see. That's it.

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That's the problem.

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Because former chair Gensler made it really unattractive to use tokens or issue tokens or build applications in our ecosystem.

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So that is all behind us.

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I wonder why. I wonder why it was difficult. I wonder why he made that challenge.

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Hmm.

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Okay, but this regulatory clarity, the stablecoin bill, it's not actually been all bad for Bitcoin.

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In fact, it does seem to be accelerating the amount and number of companies that are trying to buy Bitcoin as fast as possible.

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Welcome back. Bitcoin marching back toward its all time high. That was around 112,000 and we're just 3K below that level right now.

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But when prices dropped back in April, some big buyers seem to have bought the dip.

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A new piece on dot com looks at how for the third straight quarter, public companies bought more Bitcoin than ETFs did.

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So will this be a lasting trend or is it just temporary fad boosting prices?

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Taneya McKeel wrote that story. She joins me now. This is fascinating.

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And I sympathize a little bit. I think it was Scaramucci who said this.

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He goes, look, if you want, if you as the investor want Bitcoin, just buy Bitcoin.

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Why do you need to buy a company that buys Bitcoin?

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But anyway, over to you and what trend we're seeing.

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Yeah, Kelly.

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Well, thank you.

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So we looked at data that shows public companies collectively grew their Bitcoin holdings about 18% in Q2,

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while Bitcoin balances tied to ETFs showed growth of just 8% in the same period.

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And as you said, this is the third quarter in a row we've seen Bitcoin buying by corporate treasuries outpacing that of ETFs.

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And it's, of course, evidence of the regulatory relief that the crypto industry is enjoying under President Trump with his executive order earlier this year to create a Bitcoin reserve.

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This, you know, basically telling the market Bitcoin is here to stay.

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Many no doubt saw the green light to try to pursue the micro strategy playbook of becoming a Bitcoin holding company to reap similar benefits.

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With the uncertainty we've had in the market this year, this trend is not a total surprise.

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Institutional buyers seeking exposure to Bitcoin through ETFs.

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ETFs, that's a different game from public companies trying to accumulate in order to

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increase shareholder value. So these corporate purchases aren't driven by the macro trend

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or by sentiment. Is this a lasting trend, Kelly? Probably not, based on the conversations I'm

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having. That's an interesting point. These Bitcoin treasury companies, is this a lasting trend or

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are we seeing a burst now? And then they'll kind of slow down because, first of all, they can only

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get access to so much money. And second of all, the price will eventually go up. But if we have

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these companies that are just snapping up Bitcoin like crazy, and the ETFs actually still have

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pretty good inflows, even though they're not matching the corporate buying, still have plebs

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that are DCAing, it's causing some people to ask, well, why isn't the price going up? Why aren't we

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seeing the price take off? And there's theories out there. Of course, whenever this starts happening,

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there's theories of paper, Bitcoin or whatnot. There's a post on Stacker News that got into one

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of the more popular theories. And it writes, they write, amid all of this obsessive discussion on

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why Bitcoin's price isn't moving despite all the supposed buying, I've heard some people claiming

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that many OG whales are trading their old self-custained Bitcoin for the convenience of ETFs.

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The theory goes that these are not necessarily exchanges or transactions, but the keys are traded

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for shares of ETFs. And this is also a theory that your buddy Tom Lee has been floating around.

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We know Bitcoin ETFs are the most successful product launch in history.

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And then someone says, well, if you're going to collect that much money, Bitcoin goes to the moon.

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But it turns out Bitcoin's risen, but it's kind of churned.

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I think what happened is a couple things.

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One is a lot of these ETFs may have been receiving in-kind exchange.

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So people have their crypto keys, give it to the ETF provider, and then they just stepped up their basis.

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So that's not going to push up the price of Bitcoin.

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It adds to their AUM.

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Yes, it's a wash.

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And the second is that the ones who aren't involved in ETFs, but maybe they have $10 Bitcoin.

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We have clients that have bought Bitcoin at $100, and now it's $100,000.

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They're not looking to, they don't care if Bitcoin goes to a million.

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They are probably sellers at around $100,000.

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So we're churning the base now because 95% of the institutional world doesn't own Bitcoin, but a very significant portion of Bitcoin holders are sitting on huge gains. So I think this is the churn that's happening in Bitcoin now.

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I think that's likely true, although I don't really buy the theory that we're seeing a large amount of in-kind redemption. In other words, people trading their Bitcoin for ETF shares. I mean, I'm sure it happens, especially for those that are looking for the best loan options right now or somebody that just doesn't want to worry about tracking or taxes. I don't know.

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But I think as Bitcoiners, we always tend to overcomplicate this and we go for conspiracies and paper Bitcoin theories.

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But the price isn't moving up because there's just not as many sellers at this price, which is pretty darn high.

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I mean, as of recording, we're only like 2.5% or so away from an all-time high.

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We have to remember that $100,000 of Bitcoin in USD is a major mental milestone for long-timers.

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These are big round numbers and they mean something to us.

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We just can't help.

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It doesn't mean anything to Bitcoin at all, but it matters to us humans.

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And Glassnode published data this week that shows that the Bitcoin market needs $550 million

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a day of capital inflows to sustain the current trajectory.

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Half a billion dollars a day.

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That's a lot of money that has to keep coming in.

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I remember when Bitcoin hit $20,000 in December of 2017, I was actually watching the price,

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which you shouldn't do, but I was.

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And that felt, it felt like, well, now that it hit 20,000, it's going to hit 100,000 one day. And it was so exciting. And then it crashed down to 3,200 by the end of 2018. And it didn't cross and stay above 20,000 again, I think until like the second or last, the later half of 2020.

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We hit $20,000 in December of 2017, but didn't manage to break and stay above it again for like three years.

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So don't look at the price.

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And if you need another reason not to look at the price statistically, it seems that Bitcoin spends about 50% of the year not doing much price-wise.

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So don't watch it.

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There's nothing there to see.

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But I have a question for you, too.

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Do you think maybe one of the theories I haven't seen floated around, but I think, and I wonder if you agree, is that maybe we are seeing the market reprice the likelihood of the U.S. establishing a strategic Bitcoin reserve.

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I'm getting a little skeptical.

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Are you getting a little skeptical?

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I mean, what has Lama's really gotten done?

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Right up towards the end of the passage of the big, beautiful bill, she made noise about sneaking in tax breaks.

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Went absolutely nowhere.

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Now she's making noise about like a tiny, like if you spend like $300 or $600 or something like that, that won't get taxed.

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But like literally nothing she's really promised to Bitcoiners has happened.

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And what we have seen is legislation that's pumping altcoins.

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So she believes Congress might soon start buying Bitcoin as part of her strategic reserve.

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She's saying she's going to try to make it happen.

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But meanwhile, her own colleagues in Congress are pushing to investigate El Salvador for doing exactly the same thing.

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Senate Democrats last month introduced Bill S-2058, which targets Bichelli and his administration.

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They want wallet addresses. They want exchange records. They want investigations into possible

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sanctions evasions using Bitcoin. Essentially, they're accusing El Salvador of corruption

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because they use Bitcoin and they stack Bitcoin. Senate Bill 2058. I'll put a link in the show

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notes. So you've got part of Congress labeling Bitcoin as a tool of corruption. And then you've

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got Lum is saying that they're going to go pass legislation to buy and create a strategic Bitcoin

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reserve, buy up to a million Bitcoin and store it for 20 years. I'm getting kind of skeptical

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of that promise. I know they said stable coins and market structure act and Bitcoin reserve, but

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I'm not seeing a lot of gas in this tank. So boost it and tell me if you still think there's

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going to be a Bitcoin strategic reserve, or if you're getting skeptical like I am,

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and you think it's probably not going to happen.

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And maybe we're seeing the market price the risk of that in.

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One thing's still clear.

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We definitely still have the information advantage.

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This is interesting.

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Bitcoinperception.com published a large amount of research

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and I'll link to it, but here's the executive summary.

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Quote, mainstream media coverage of Bitcoin in Q2 2025

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revealed a deeply polarized narrative landscape with 1,116 articles published across 18 major

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outlets. The overall sentiment tilted negative at 31% positive, 41% neutral, and 28% negative,

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masking dramatic divergences between the outlets. They say perhaps the most striking was the near

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silence from elite financial publications. The Wall Street Journal published only two Bitcoin

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articles, while the Financial Times managed 11 and the New York Times also 11. A remarkable absence

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is given to Bitcoin's status as the best performing asset of the last decade. And I think that is the

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lens to think about this. The best performing asset of the last decade, and they could barely

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write any articles about it. In fact, they write that the New York Times and Wall Street Journal

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had many more articles about failing retail investments

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that totally bombed than they did Bitcoin.

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And there's a real impact here

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because institutional investors are relying on outlets

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like the Wall Street Journal and the Financial Times

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for their market intelligence

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and understanding of what's a mover and a shaker.

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And these are the outlets that are most underserving.

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In fact, they say they systematically under-informed.

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Quote, while Bitcoin posted another quarter

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of outperformance,

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while companies added billions to corporate treasuries,

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while ETF volumes soared.

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The Financial Times,

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the Wall Street Journal,

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and the New York Times

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covered Bitcoin less

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than they cover quarterly earnings

394
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from declining retailers, end quote.

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The researchers are calling this

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the ostrich strategy.

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They're just burying their heads in the sand.

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And they're saying they're causing

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a self-inflected media irrelevance.

400
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And there is a real strategic implication.

401
00:29:22,059 --> 00:29:24,499
Quote, elite financial media ostrich strategy

402
00:29:24,499 --> 00:29:27,039
creates massive information asymmetry.

403
00:29:27,999 --> 00:29:29,199
Institutional investors

404
00:29:29,199 --> 00:29:33,419
relying on the Wall Street Journal or the Financial Times for market intelligence

405
00:29:33,419 --> 00:29:40,459
are systematically under-informed about transformative asset classes.

406
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There is a strategic implication there, and it shapes their worldview.

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But it's to our advantage.

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If you're listening to this, you have information asymmetry over them.

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And it's ironic, because if you're investing and you're moving a lot of money,

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00:29:54,139 --> 00:29:55,739
it's on you to do proper research.

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It's not on autopilot anymore.

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Maybe it was really easy for the last 30 or 40 years.

413
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But what's crazy to me is that's changed.

414
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And it's their responsibility to figure it out and do proper research.

415
00:30:07,139 --> 00:30:08,159
And it's not even that hard.

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Just go find a good podcast to listen to and stay informed.

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00:30:13,019 --> 00:30:16,999
It just shows you how little effort they're even putting into their investment research.

418
00:30:17,879 --> 00:30:25,659
You know, if an investor is only getting their information from like these legacy dinner party directed editorial boards, yeah, they're going to miss the next thing.

419
00:30:26,239 --> 00:30:26,999
It's really something.

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00:30:26,999 --> 00:30:29,699
So it's just, it's a really good bit of research.

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They break down and they have visualizations and charts of the different major outlets and the way they covered Bitcoin.

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Definitely worth your time.

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Well, coming up, your boost.

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I have some updates, some big news for the show too.

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A final clip of the week and, of course, a song of the week.

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00:30:51,739 --> 00:30:55,559
So I'll just mention you can support the show by doing what you probably already do.

427
00:30:55,559 --> 00:30:59,739
If you want to buy sats on river, it's one of the best ways to stack sats in the US,

428
00:30:59,739 --> 00:31:15,198
use our link support the show that way If you all about self you in Canada or the US the Bitcoin well is the way to go And if you want to spend your sats via Lightning it Prime Day after all the Bitcoin company they convert Lightning sats into gift cards instantly No login required You

429
00:31:15,198 --> 00:31:20,278
can log in with Lightning and they only do Bitcoin. If you want to stack sats while you pay bills,

430
00:31:20,378 --> 00:31:24,818
use your debit card, things like that, the fold cards, the community way to do it. I love it. I

431
00:31:24,818 --> 00:31:29,358
use it. Link in the show notes to support the show. And last but not least, you want to get

432
00:31:29,358 --> 00:31:34,658
access to some of your Bitcoin value without selling it. Salt Lending offers loans at all

433
00:31:34,658 --> 00:31:38,458
amounts. That's who I use. Links to all of that are in the show notes.

434
00:31:59,358 --> 00:32:03,278
And we do have some boost to support the show this week.

435
00:32:03,538 --> 00:32:05,158
This is a value for value podcast.

436
00:32:05,258 --> 00:32:06,238
I put it out there for free.

437
00:32:06,718 --> 00:32:08,818
If it's useful for you, I ask that you send the show a boost.

438
00:32:08,898 --> 00:32:12,858
Not only do I love the messages, but it's a great way to support the show over the Lightning Network.

439
00:32:13,338 --> 00:32:16,398
And anything above 2,000 sats, I read on the show.

440
00:32:16,938 --> 00:32:19,678
And Derivation Dingus is back.

441
00:32:19,738 --> 00:32:21,198
And he's our baller booster.

442
00:32:21,198 --> 00:32:22,918
Hey, rich lobster.

443
00:32:29,358 --> 00:32:41,538
He comes in with 72,222 sats and writes, I've been trying to boost forever, but I've just been so dang busy.

444
00:32:41,998 --> 00:32:45,058
My favorite Bitcoin show, stay humble and stack sats.

445
00:32:45,458 --> 00:32:46,598
That is great advice.

446
00:32:46,758 --> 00:32:47,958
It's good to hear from you, Derivation.

447
00:32:48,098 --> 00:32:49,238
Thank you for boosting it.

448
00:32:49,658 --> 00:32:50,338
I've missed you.

449
00:32:50,878 --> 00:32:51,698
I appreciate you.

450
00:32:51,878 --> 00:32:54,218
You make me want to be a better man.

451
00:32:55,138 --> 00:32:57,918
JQ3 is a hot ticket with 30,000 sats.

452
00:32:58,038 --> 00:32:58,938
I like you.

453
00:32:59,358 --> 00:33:00,318
You're a hot ticket.

454
00:33:00,698 --> 00:33:05,038
I sent these to my fountain wall for my self-hosted Albi Hub, which is awesome.

455
00:33:05,398 --> 00:33:06,318
Nicely done.

456
00:33:06,418 --> 00:33:07,078
Yes, sir.

457
00:33:09,838 --> 00:33:11,858
I wish there was a way to boost directly from there.

458
00:33:11,978 --> 00:33:12,778
So much to learn.

459
00:33:12,918 --> 00:33:14,418
Keep up the great work.

460
00:33:14,958 --> 00:33:20,178
Well, J-Cube, if you have the Albi extension installed and connected to your Albi Hub,

461
00:33:20,298 --> 00:33:25,178
you can go to the podcast index and find This Week in Bitcoin on the podcast index.

462
00:33:25,398 --> 00:33:28,398
Find the episode and you can boost from their page if you have all that hooked up.

463
00:33:28,398 --> 00:33:30,318
and it will go just directly from your Albi Hub.

464
00:33:30,878 --> 00:33:32,418
I think Fountain makes it real easy too,

465
00:33:32,498 --> 00:33:33,878
but that's totally an option.

466
00:33:34,398 --> 00:33:36,458
And if you try it, let me know how it goes.

467
00:33:37,158 --> 00:33:37,978
Thank you for the boost.

468
00:33:38,138 --> 00:33:39,958
Mug Daddy's here with 25,000 sats.

469
00:33:45,018 --> 00:33:46,378
He's got thoughts on boomers.

470
00:33:46,438 --> 00:33:48,518
He says, well, they're mostly already retired.

471
00:33:48,658 --> 00:33:50,478
I think the biggest economic situation

472
00:33:50,478 --> 00:33:53,078
is that they are dying and leaving stuff to their kids.

473
00:33:53,538 --> 00:33:56,438
I don't know what this kind of macroeconomic effect will have,

474
00:33:56,438 --> 00:34:03,218
but I bought my daughter a Lincoln town car for less than 3,000 Fiat bugs, well below the theoretical

475
00:34:03,218 --> 00:34:07,998
blue book value. I'm wondering if this might be some sort of weird deflationary effect as Gen Xers

476
00:34:07,998 --> 00:34:14,238
inherit the crap they don't want. Interesting. Interesting. Yeah, I have thought about that.

477
00:34:14,798 --> 00:34:19,078
You know, so the boomers are a very large generation. They're at least 20% of the U.S.

478
00:34:19,158 --> 00:34:25,178
population, if not more. They still represent something to 60 to 70% of home purchases right

479
00:34:25,178 --> 00:34:28,818
now. So they probably have some of the most disposable income, right? If you look at who's

480
00:34:28,818 --> 00:34:33,558
taking some of the higher end cruises, if you look at who's buying jewelry right now, it's boomers.

481
00:34:34,138 --> 00:34:38,578
And so a lot of them are still alive and well and very much in the market buying things.

482
00:34:39,078 --> 00:34:45,678
My folks are, you know, in their late 60s and doing well, thankfully. And I think they'll be

483
00:34:45,678 --> 00:34:49,818
around for some time. So it'll still be a while before we inherit the millennial generation,

484
00:34:49,958 --> 00:34:54,218
which I guess they call an elder millennial. I advocate that those of us from the early 80s

485
00:34:54,218 --> 00:34:56,258
We should have gotten our own generation, but that's a different topic.

486
00:34:56,978 --> 00:35:01,358
But I do think there will be some very interesting macroeconomic implications as that process begins.

487
00:35:02,258 --> 00:35:07,678
He also wanted to boost again because he wants to challenge Aon BTC to a bare knuckle fisticuff.

488
00:35:08,218 --> 00:35:09,698
I mean, he just wants to talk.

489
00:35:09,958 --> 00:35:10,419
Make it so.

490
00:35:10,419 --> 00:35:16,518
Yeah, that is the individual who is now creating a block list for those of us that are running Bitcoin knots.

491
00:35:17,238 --> 00:35:17,998
Thank you for the boost.

492
00:35:18,718 --> 00:35:20,098
Appreciate it very much, Mug Daddy.

493
00:35:20,678 --> 00:35:22,318
Grekar is here with 20,000 sats.

494
00:35:24,218 --> 00:35:29,458
He says, thanks for the high signal as usual and have a great summer trip.

495
00:35:29,538 --> 00:35:29,958
Thank you.

496
00:35:30,098 --> 00:35:30,678
We did.

497
00:35:31,098 --> 00:35:35,758
And the only thing that went wrong is the blinds fell down in my dinette.

498
00:35:36,518 --> 00:35:38,919
The Washington I-90 road is just too rough.

499
00:35:39,419 --> 00:35:41,318
And it's just, it was rough on the rick.

500
00:35:41,378 --> 00:35:42,818
Other than that, she survived.

501
00:35:42,898 --> 00:35:43,698
The kids had a great time.

502
00:35:43,738 --> 00:35:44,678
We got lots of swimming in.

503
00:35:45,118 --> 00:35:46,258
And it was a great trip.

504
00:35:46,358 --> 00:35:46,898
Thank you, Drekkar.

505
00:35:47,118 --> 00:35:48,078
Appreciate that boost.

506
00:35:48,818 --> 00:35:50,518
Cardboard Warriors here with a row of ducks.

507
00:35:51,498 --> 00:35:53,458
2,222 sats.

508
00:35:53,958 --> 00:35:56,439
I tune into Noagenda to block out the media noise.

509
00:35:56,718 --> 00:35:59,478
And I tune into Twib to block out the Bitcoin nose.

510
00:35:59,698 --> 00:35:59,978
Noise.

511
00:36:00,258 --> 00:36:00,638
Nose.

512
00:36:00,939 --> 00:36:01,598
Ha, ha, ha.

513
00:36:01,758 --> 00:36:02,298
Stay humble.

514
00:36:02,598 --> 00:36:03,058
Stack sats.

515
00:36:03,258 --> 00:36:05,058
I have a bit of a Bitcoin nose right now.

516
00:36:05,078 --> 00:36:07,998
As my grandpa used to say, I have a nose full of nickels.

517
00:36:08,618 --> 00:36:11,978
And now the saying in my house is, I have a nose full of sats.

518
00:36:12,658 --> 00:36:15,919
I don't really know what it means, but we thought it was a nice homage to grandpa.

519
00:36:15,919 --> 00:36:18,778
So for the last couple of weeks, I've got a nose full of sats.

520
00:36:19,678 --> 00:36:20,778
That means I have a stuffed nose.

521
00:36:21,439 --> 00:36:22,358
Thank you, Cardboard Warrior.

522
00:36:22,678 --> 00:36:23,278
Appreciate you.

523
00:36:23,458 --> 00:36:25,318
Ace Ackerman's also here with the Rodex.

524
00:36:26,518 --> 00:36:29,638
I predict lower than 2.1% inflation.

525
00:36:29,858 --> 00:36:31,778
The orange man is correct.

526
00:36:32,538 --> 00:36:33,238
Okay, thank you.

527
00:36:33,278 --> 00:36:40,518
I asked you to come in and I asked you to put your inflation prediction by the end of October on the record.

528
00:36:41,378 --> 00:36:43,878
And we, okay, so that's the first one we have is from Ace.

529
00:36:43,898 --> 00:36:45,939
And he says it's going to be lower than 2.1.

530
00:36:46,338 --> 00:36:47,838
I'm checking in right now.

531
00:36:47,878 --> 00:36:49,478
And I was talking about the year over year.

532
00:36:49,478 --> 00:36:59,378
And right now, according to the Truflation dashboard, the year-on-year is 1.66%.

533
00:36:59,378 --> 00:37:01,958
The inflation rate is 1.66%.

534
00:37:01,958 --> 00:37:06,478
I think the Fed is saying something like 2.4%, at least the BLS is.

535
00:37:07,158 --> 00:37:09,338
So Truflation is showing inflation down right now.

536
00:37:09,658 --> 00:37:11,798
So if that trend continues, Ace, you will be correct.

537
00:37:12,478 --> 00:37:14,378
Hello there is here with the Spaceballs boost.

538
00:37:14,458 --> 00:37:16,578
That's 1, 2, 3, 4, 5 sats.

539
00:37:16,578 --> 00:37:20,939
So the combination is one, two, three, four, five.

540
00:37:21,138 --> 00:37:22,998
And he says, may the Schwartz be with you.

541
00:37:23,038 --> 00:37:23,958
Smoke if you got them.

542
00:37:24,038 --> 00:37:25,018
Ha, thank you.

543
00:37:25,238 --> 00:37:26,118
You know, hello there.

544
00:37:26,158 --> 00:37:31,618
I tried to get my eldest son to watch Spaceballs over the break, and he noped.

545
00:37:32,098 --> 00:37:32,598
He noped.

546
00:37:32,738 --> 00:37:34,198
He said, Dad, it's too old.

547
00:37:34,758 --> 00:37:36,238
I thought, okay, he's not ready yet.

548
00:37:36,258 --> 00:37:39,058
So I pivoted while I still had him to Fifth Element.

549
00:37:39,218 --> 00:37:42,338
And he enjoyed Fifth Element, so I still kind of feel like it was a win.

550
00:37:42,778 --> 00:37:45,958
But I would have loved to have gotten a good Spaceballs watch in there.

551
00:37:45,958 --> 00:37:46,638
You know what I mean?

552
00:37:47,858 --> 00:37:50,538
I'll save it for, you know, some older friends.

553
00:37:50,939 --> 00:37:52,038
Maybe when he's a little bit older.

554
00:37:52,758 --> 00:37:53,178
Thanks.

555
00:37:53,258 --> 00:37:53,598
Hello there.

556
00:37:53,958 --> 00:37:54,758
Appreciate the boost.

557
00:37:55,218 --> 00:37:56,698
Hey, look, Gene Bean's here.

558
00:37:56,818 --> 00:37:57,419
Hey, Gene Bean.

559
00:37:57,498 --> 00:37:59,878
He's here with 6,666 sats.

560
00:38:00,038 --> 00:38:02,778
Thank you for helping us help you help us all.

561
00:38:03,178 --> 00:38:06,878
He says, would you get the BitBox O2 Nova or the Jade Plus?

562
00:38:07,558 --> 00:38:13,738
I think I'd probably get the BitBox O2 Nova because the Jade Plus still does depend on

563
00:38:13,738 --> 00:38:17,798
some server-side functionality for complete functionality.

564
00:38:18,358 --> 00:38:21,058
Not that I think Blockstream's going anywhere anytime soon,

565
00:38:21,338 --> 00:38:25,178
but I like to think of these cold wallets as a 10-year device if possible,

566
00:38:25,358 --> 00:38:29,138
and I just don't love the idea of a bit of dependence on a third-party server.

567
00:38:29,898 --> 00:38:30,358
No shade.

568
00:38:30,758 --> 00:38:32,618
You're doing very well.

569
00:38:32,778 --> 00:38:35,778
He says, I stumbled across Shopster tonight and wanted to get your take on it.

570
00:38:35,778 --> 00:38:37,798
It talks about using Lightning and Cashew,

571
00:38:37,898 --> 00:38:40,578
and I was hoping maybe you could explain Cashew and its place in the ecosystem,

572
00:38:41,018 --> 00:38:43,298
as I don't get why you would use it over Lightning.

573
00:38:43,738 --> 00:38:47,158
Ah, well, that could be a dedicated episode.

574
00:38:47,439 --> 00:38:49,238
But, you know, think of it like this, Gene.

575
00:38:49,278 --> 00:38:50,058
It's sort of like Liquid.

576
00:38:50,818 --> 00:38:55,718
There are reasons where you might want to move funds around and not have to worry about fees or having a channel.

577
00:38:56,018 --> 00:39:01,698
And it's much simpler to use something like Cashew than set up a lightning node, open channels between people.

578
00:39:02,098 --> 00:39:09,738
I think a good example is like I actually move sats between me and the kids using Liquid for the most part because I don't want to pay the fees.

579
00:39:09,738 --> 00:39:12,439
and then when they move it out to their cold storage

580
00:39:12,439 --> 00:39:13,998
is actually when I put it on chain.

581
00:39:14,318 --> 00:39:15,858
So I think that's something you could think about,

582
00:39:16,419 --> 00:39:18,419
but I'd be happy to go into more detail on Cashew

583
00:39:18,419 --> 00:39:19,439
because I have been wanting to.

584
00:39:20,098 --> 00:39:21,218
And he says, check out Shopster.

585
00:39:21,358 --> 00:39:25,278
It's, as it sounds, a shop STR built on top of Noster.

586
00:39:25,278 --> 00:39:27,378
And then he says one more.

587
00:39:27,538 --> 00:39:30,258
I'd love to get your take on this Coindesk article

588
00:39:30,258 --> 00:39:32,018
about the mempool being empty.

589
00:39:32,439 --> 00:39:34,098
And I did get a chance to read this.

590
00:39:34,238 --> 00:39:37,459
I was surprised they went so hard on the fear mongering.

591
00:39:38,258 --> 00:39:39,678
That was something.

592
00:39:39,738 --> 00:39:51,138
And they cite this expert who says that the low activity is an evidence of lack of retail participation in the Bitcoin market and that it could be a risk for the Bitcoin market.

593
00:39:51,798 --> 00:40:00,778
This is, I guess, his name was like Jiao Wedsen, the CEO and founder of Crypto Data Platform Alpha Radical or Tactical or something like that.

594
00:40:00,778 --> 00:40:09,998
And he says, quote, when mempool transactions begin to rise again, it's a clear sign that retail is back because the growing backlog reflects increased demand for using the network.

595
00:40:10,658 --> 00:40:14,138
I don't really understand why this is a problem.

596
00:40:14,738 --> 00:40:16,419
I think this is exactly what we expected.

597
00:40:16,978 --> 00:40:19,198
A lot of retail moved to the ETFs.

598
00:40:19,558 --> 00:40:25,518
And when the ETFs launched, I kind of joked that you could really think of them as a theoretical layer two.

599
00:40:26,038 --> 00:40:30,678
Not technically a layer two, but in that they will take volume off of the main chain.

600
00:40:30,778 --> 00:40:34,459
I think also the success of lightning is playing a role here.

601
00:40:34,858 --> 00:40:38,478
I will post, if I remember, I will post some lightning stats,

602
00:40:38,578 --> 00:40:40,538
a link to some lightning stats in the show notes.

603
00:40:41,078 --> 00:40:45,939
But if I don't remember, it is 1ml.com slash statistics.

604
00:40:47,138 --> 00:40:49,278
1ml.com slash statistics.

605
00:40:50,258 --> 00:40:53,638
And things are, you know, they're looking really good overall.

606
00:40:54,419 --> 00:40:58,838
There's been 57,580 lightning nodes observed.

607
00:40:59,498 --> 00:41:01,419
You look at the channels, they're all pretty good.

608
00:41:01,459 --> 00:41:02,538
The capacities are pretty good.

609
00:41:02,598 --> 00:41:04,338
They've come to a pretty reasonable spot.

610
00:41:05,178 --> 00:41:06,338
Transactions are pretty high.

611
00:41:06,858 --> 00:41:08,238
Network capacity is pretty good.

612
00:41:08,698 --> 00:41:11,298
So there is a lot of volume happening on Lightning.

613
00:41:12,338 --> 00:41:13,818
And that also plays a role.

614
00:41:13,998 --> 00:41:15,198
So I think you have the ETFs.

615
00:41:15,459 --> 00:41:16,338
You have a lot of volume.

616
00:41:16,778 --> 00:41:18,978
But also, you have people that are hodling.

617
00:41:19,858 --> 00:41:24,338
The value proposition is becoming more and more obvious as Bitcoin increases in value.

618
00:41:24,338 --> 00:41:29,698
It was only a few years ago that the main narrative was it should be a PayPal replacement.

619
00:41:30,338 --> 00:41:32,158
It should be used for online transactions.

620
00:41:32,798 --> 00:41:35,118
Newegg accepted Bitcoin right on their site during checkout.

621
00:41:35,459 --> 00:41:37,558
You could buy your entire Newegg shopping cart.

622
00:41:37,638 --> 00:41:41,518
If everything was sold by Newegg, you could buy all of it with Bitcoin directly on-chain.

623
00:41:42,338 --> 00:41:43,318
And they weren't the only retailer.

624
00:41:43,898 --> 00:41:49,538
I bought Expedia tickets directly on-chain using Bitcoin from Expedia.com because it

625
00:41:49,538 --> 00:41:51,378
was going to be the PayPal replacement, right?

626
00:41:51,478 --> 00:41:53,318
So then we saw a lot more volume.

627
00:41:53,318 --> 00:42:03,238
But you really have to appreciate that this is an organic thing where the usage ebbs and flows based on the user base, the dynamics at the time.

628
00:42:04,018 --> 00:42:13,698
And so you can't look at previous periods where we didn't have ETFs or we didn't have Lightning or we didn't have the value narratives that we have now and compare and contrast them.

629
00:42:14,358 --> 00:42:15,878
It's just not the same anymore.

630
00:42:16,098 --> 00:42:22,498
So I don't really spend much time worrying about it because I expect over the long term we're going to see things turn around.

631
00:42:22,498 --> 00:42:25,439
simply because we're in the building phase right now.

632
00:42:25,838 --> 00:42:27,959
The interstates aren't fully built out.

633
00:42:28,078 --> 00:42:29,338
They don't even necessarily connect.

634
00:42:29,538 --> 00:42:31,498
The off-ramps and on-ramps aren't finished yet.

635
00:42:31,878 --> 00:42:33,538
So we don't have a lot of cars on there.

636
00:42:33,959 --> 00:42:35,398
There are some folks that are road tripping,

637
00:42:35,858 --> 00:42:37,919
but not everybody, you know?

638
00:42:38,398 --> 00:42:40,738
It's going to take a while before it's really heavy volume

639
00:42:40,738 --> 00:42:45,178
because simply it's not done being built yet, you know?

640
00:42:45,618 --> 00:42:49,278
And I think also if you have a lot of people switching over

641
00:42:49,278 --> 00:42:51,459
to ETFs for retail purchases

642
00:42:51,459 --> 00:42:54,038
so they can buy small amounts in their existing brokerage accounts.

643
00:42:54,538 --> 00:42:56,318
That'll reduce on-chain volume.

644
00:42:57,098 --> 00:43:00,018
The question is, is what causes it to turn around?

645
00:43:00,978 --> 00:43:03,798
What would be the catalyst to increase that volume?

646
00:43:04,558 --> 00:43:05,578
I'd love to hear your thoughts on that.

647
00:43:05,898 --> 00:43:07,678
This is a tasty burger.

648
00:43:07,818 --> 00:43:08,218
Thank you, Gene.

649
00:43:08,858 --> 00:43:11,338
Oppie 1984 is here with 6,000 sats.

650
00:43:11,478 --> 00:43:13,678
Boy, they are doing a lot with mayo these days.

651
00:43:13,678 --> 00:43:14,939
He says, I hope you enjoyed the vacations.

652
00:43:15,038 --> 00:43:15,459
Well-deserved.

653
00:43:15,638 --> 00:43:17,439
Second, on Ace's thoughts on the Amazon coin.

654
00:43:17,959 --> 00:43:21,258
I agree with his assessment, but I think the real play will be interest.

655
00:43:21,459 --> 00:43:26,278
They will treat the Amazon coin like gift cards where you deposit money with the company and redeem it later.

656
00:43:26,738 --> 00:43:29,238
And that in between time, the company is occurring interest.

657
00:43:29,738 --> 00:43:33,138
Starbucks is rivaling some banks with their gift card interest bearing holdings.

658
00:43:33,298 --> 00:43:36,018
And I'm sure Amazon is not far behind them.

659
00:43:36,238 --> 00:43:36,578
Ha ha.

660
00:43:37,018 --> 00:43:37,358
Yeah.

661
00:43:37,598 --> 00:43:39,718
Yeah, I got answers and I want some questions.

662
00:43:39,998 --> 00:43:42,598
He also sent 2000 sats to our song artist last week.

663
00:43:42,718 --> 00:43:44,198
Thank you very much for that, Oppie.

664
00:43:44,658 --> 00:43:45,778
I appreciate that.

665
00:43:46,478 --> 00:43:46,818
Okay.

666
00:43:47,459 --> 00:43:47,858
Okay.

667
00:43:47,959 --> 00:43:48,939
I'm going to go for it.

668
00:43:49,138 --> 00:43:51,198
I'm going to give this one a go.

669
00:43:51,459 --> 00:43:52,798
We'll see how this ends up.

670
00:43:53,558 --> 00:43:55,718
Chance of Dizzy Spells boosts.

671
00:43:55,758 --> 00:43:56,338
Hey, I got it.

672
00:43:56,738 --> 00:43:57,098
Look at me.

673
00:43:57,138 --> 00:43:58,738
I got it with 3,000 sats.

674
00:43:59,518 --> 00:44:03,318
Appreciating your time, summarizing the important information, news and events, and saving my time.

675
00:44:03,778 --> 00:44:05,598
Payday, so here's some value for your value.

676
00:44:05,718 --> 00:44:07,538
I hope you and your family have a great holiday.

677
00:44:08,698 --> 00:44:09,698
Thank you very much.

678
00:44:10,098 --> 00:44:10,858
I appreciate that.

679
00:44:10,919 --> 00:44:11,858
Nice to hear from you, Chance.

680
00:44:12,698 --> 00:44:14,998
Clarkian's here with 5,000 sats.

681
00:44:15,258 --> 00:44:16,258
Everything's under control.

682
00:44:16,478 --> 00:44:18,398
Song Boost sends some value to our artist.

683
00:44:18,798 --> 00:44:21,058
And User 12's also here with 5,000 sats.

684
00:44:21,058 --> 00:44:21,778
Danger Zone.

685
00:44:22,018 --> 00:44:23,978
Thank you, Chris, for all your hard work and content.

686
00:44:24,318 --> 00:44:25,998
It's always entertaining and a good listen.

687
00:44:26,118 --> 00:44:26,478
Hey, good.

688
00:44:26,598 --> 00:44:27,198
I'm glad to hear that.

689
00:44:27,518 --> 00:44:29,919
I'm a low-key holder working my way up to running a node someday.

690
00:44:30,298 --> 00:44:31,158
Danger Zone.

691
00:44:31,459 --> 00:44:32,338
Go for it.

692
00:44:32,919 --> 00:44:33,459
Run a node.

693
00:44:33,518 --> 00:44:34,578
It'll make you be a better man.

694
00:44:34,758 --> 00:44:36,678
You make me want to be a better man.

695
00:44:36,698 --> 00:44:37,378
That's really great.

696
00:44:37,498 --> 00:44:39,178
I'd love to hear it if you go for it.

697
00:44:39,558 --> 00:44:40,439
I think you're going to love it.

698
00:44:40,498 --> 00:44:41,638
Just you'll learn more.

699
00:44:42,318 --> 00:44:44,278
You'll understand more about the Bitcoin network,

700
00:44:44,439 --> 00:44:46,558
and you're going to feel more empowered.

701
00:44:46,558 --> 00:44:51,138
and you're going to feel more confident in Bitcoin too.

702
00:44:52,439 --> 00:44:53,278
Do it, user, do it.

703
00:44:54,498 --> 00:44:57,358
HDW39 comes in with 15,000 sats.

704
00:44:57,498 --> 00:45:00,278
Thank you for helping us help you help us all.

705
00:45:00,478 --> 00:45:02,318
HDW writes, thanks for the great signal.

706
00:45:02,598 --> 00:45:03,518
Enjoy your road trip.

707
00:45:03,638 --> 00:45:05,278
Interesting to hear about the BitBox review.

708
00:45:05,598 --> 00:45:07,818
I wondered what you recommended signing device would be

709
00:45:07,818 --> 00:45:09,959
to complete the triangle of Sparrow and Zeus.

710
00:45:10,439 --> 00:45:13,078
I'm sure many listeners use ColdCard as I do.

711
00:45:13,618 --> 00:45:16,058
I like their model of trying to do one thing well and that's it.

712
00:45:16,058 --> 00:45:18,198
Just store keys safely offline.

713
00:45:18,398 --> 00:45:19,718
No app, no Bluetooth.

714
00:45:20,358 --> 00:45:22,419
You're doing very well.

715
00:45:22,598 --> 00:45:23,138
Safe travels.

716
00:45:23,278 --> 00:45:24,138
And whatever you do, be careful.

717
00:45:24,459 --> 00:45:25,138
Don't get in a boat.

718
00:45:25,838 --> 00:45:27,118
Accidents can happen.

719
00:45:27,718 --> 00:45:28,658
Yeah, you're right.

720
00:45:28,758 --> 00:45:31,939
I need to go on a vacation where I have a boat ride.

721
00:45:32,278 --> 00:45:37,558
And I think maybe I'll do a Bitcoin demonstration out on the boat, like a key signing demonstration out on the boat.

722
00:45:37,638 --> 00:45:39,419
I think that'd be really useful for my family.

723
00:45:40,578 --> 00:45:40,898
Yes.

724
00:45:41,258 --> 00:45:42,018
Good, good.

725
00:45:42,138 --> 00:45:42,898
Yes, good idea.

726
00:45:43,018 --> 00:45:43,338
Yes.

727
00:45:43,538 --> 00:45:44,158
Thanks, HG.

728
00:45:44,678 --> 00:45:45,378
Appreciate that.

729
00:45:45,378 --> 00:45:48,298
Thank you everybody who boosted in above the 2000sat cutoff and below.

730
00:45:48,738 --> 00:45:52,398
Even the ones that come in below, I do read and keep in the show notes forever.

731
00:45:52,558 --> 00:45:54,898
I saw user59 came in with an inflation prediction.

732
00:45:55,398 --> 00:45:56,178
Appreciate that.

733
00:45:56,478 --> 00:46:01,838
We had 46 of you stream sats as you listen to the show, which is pretty impressive because

734
00:46:01,838 --> 00:46:05,838
collectively you stack 60,470 sats for the show.

735
00:46:05,898 --> 00:46:06,898
Just stream it as you listen.

736
00:46:06,959 --> 00:46:07,919
I really appreciate that.

737
00:46:08,358 --> 00:46:15,358
When you combine it with them boosters who sent a message in, we stacked a total of 268,390

738
00:46:15,378 --> 00:46:22,218
90sats. Not too bad. That is over the last two weeks, but I appreciate those of you who sent in a boost.

739
00:46:22,218 --> 00:46:27,678
It really does make a difference. I tell you, when I see those come in, even after a vacation,

740
00:46:27,678 --> 00:46:31,698
I got a little head cold. You see those come in and it's truly motivating. That's something

741
00:46:31,698 --> 00:46:43,998
that even bigger than we talk about As a content creator seeing the value come in directly from the audience is very rewarding compared to say like a sponsor relationship that opaque and behind the scenes

742
00:46:43,998 --> 00:46:45,518
and you don't ever know any of the details.

743
00:46:46,078 --> 00:46:47,418
So if you'd like to support the show,

744
00:46:47,838 --> 00:46:49,638
a boost is the best way to do it.

745
00:46:50,018 --> 00:46:51,818
It is a way to send value directly

746
00:46:51,818 --> 00:46:53,718
over the Lightning Network to the show.

747
00:46:53,798 --> 00:46:55,418
Show people that Bitcoin is getting used.

748
00:46:55,998 --> 00:46:57,878
And of course, you can attach a message with that.

749
00:46:58,058 --> 00:46:59,477
Fountain FM makes that really easy

750
00:46:59,477 --> 00:47:01,738
because they host the Lightning infrastructure for you

751
00:47:01,738 --> 00:47:03,058
at fountain.fm.

752
00:47:03,058 --> 00:47:10,157
There are ways to do it with AlbiHub and Podverse or other great apps like Castamatic, which is fantastic on iOS.

753
00:47:10,878 --> 00:47:14,618
So just go over to podcastapps.com and try them out.

754
00:47:14,677 --> 00:47:17,438
See which one works for you and then boost in the show and support us.

755
00:47:17,477 --> 00:47:19,738
Or get AlbiHub and do it from the podcast index.

756
00:47:20,198 --> 00:47:21,378
All of that is much appreciated.

757
00:47:24,418 --> 00:47:25,318
Keep the show going.

758
00:47:33,058 --> 00:47:42,878
Well, I did the right thing right before I left for vacation for over a week and changed the entire back end of the show.

759
00:47:42,957 --> 00:47:46,298
You know, like you're not supposed to make changes on a Friday.

760
00:47:46,457 --> 00:47:47,878
I did the ultimate version of that.

761
00:47:47,998 --> 00:47:54,778
I made huge, sweeping changes to the show's infrastructure right before I left on vacation.

762
00:47:55,218 --> 00:48:02,518
And thankfully, for the most part, with the help of the Fountain FM team and West Payne and others, it went pretty darn well.

763
00:48:02,518 --> 00:48:09,418
And now This Week in Bitcoin is hosted on Fountain FM's new podcasting 2.0 hosting infrastructure.

764
00:48:09,798 --> 00:48:14,518
And there's a couple of positive ramifications for the show that I just thought I'd let you know about.

765
00:48:15,038 --> 00:48:20,177
Number one is I'm already seeing better integration with the Noster comments.

766
00:48:20,338 --> 00:48:23,378
So I've been able to respond to some of the comments that people leave on the show on Noster.

767
00:48:23,858 --> 00:48:26,198
And it brings it right into my Fountain FM dashboard.

768
00:48:26,438 --> 00:48:28,358
So I'm getting more feedback into the show.

769
00:48:29,018 --> 00:48:32,977
Also, it enables something new that the Fountain team is working on.

770
00:48:33,398 --> 00:48:37,318
And it's a set it and forget it auto support with SATs or Fiat.

771
00:48:37,498 --> 00:48:38,058
Your choice.

772
00:48:38,538 --> 00:48:40,098
You get the same benefits regardless.

773
00:48:40,977 --> 00:48:46,457
Right now, I've turned this on and those benefits extend to a profile badge that says you support

774
00:48:46,457 --> 00:48:46,878
this show.

775
00:48:47,298 --> 00:48:49,618
And I've had one other person.

776
00:48:49,858 --> 00:48:53,318
So we'd have a grand total of two subscribers that have taken me up on this.

777
00:48:53,318 --> 00:48:57,358
But as I collect your feedback, in the future, there will be bonus episodes.

778
00:48:57,358 --> 00:49:00,498
that automatically become available to those who subscribe

779
00:49:00,498 --> 00:49:04,138
and I believe will be unlockable via a boost,

780
00:49:04,638 --> 00:49:05,677
which is kind of a neat way

781
00:49:05,677 --> 00:49:07,938
because I have been trying to think for a long time

782
00:49:07,938 --> 00:49:10,078
of a way to make the show sustainable

783
00:49:10,078 --> 00:49:13,378
that doesn't necessarily require sponsors

784
00:49:13,378 --> 00:49:16,318
because I think that's the healthiest route possible

785
00:49:16,318 --> 00:49:18,398
for a pure new show in this space.

786
00:49:19,098 --> 00:49:21,558
And it's something I'm still navigating.

787
00:49:21,838 --> 00:49:23,738
But if I could make great content

788
00:49:23,738 --> 00:49:26,038
that you feel is worth unlocking with a boost

789
00:49:26,038 --> 00:49:28,878
and gives you an opportunity to support the show in another way,

790
00:49:28,977 --> 00:49:30,098
I think that could be a win.

791
00:49:30,818 --> 00:49:33,638
Or if you want to just subscribe and put your support on autopilot

792
00:49:33,638 --> 00:49:36,358
and just get the content and support the show as it becomes available,

793
00:49:36,878 --> 00:49:37,778
that seems like a win.

794
00:49:38,758 --> 00:49:43,177
Currently, Fountain FM's podcast client is the only one that supports all of this

795
00:49:43,177 --> 00:49:44,657
and gets you access to this stuff.

796
00:49:45,477 --> 00:49:47,838
But they've built it all using open standards.

797
00:49:48,058 --> 00:49:50,657
It's all built on top of Lightning and Noster.

798
00:49:51,177 --> 00:49:52,698
You don't even have to use Noster.

799
00:49:53,338 --> 00:49:54,898
You really don't even have to engage with Lightning

800
00:49:54,898 --> 00:49:58,378
because you can use Fiat and it'll do all the rails for you.

801
00:49:58,718 --> 00:50:02,438
But the way they built it, any podcasting 2.0 app

802
00:50:02,438 --> 00:50:04,338
could implement support if they want.

803
00:50:04,418 --> 00:50:06,438
There's nothing proprietary to Fountain here.

804
00:50:06,578 --> 00:50:09,138
And it's all based on just what's in my RSS feed.

805
00:50:09,938 --> 00:50:11,798
If you haven't tried out Fountain in a while,

806
00:50:12,218 --> 00:50:14,638
they have had a lot of major improvements inbound.

807
00:50:15,038 --> 00:50:17,598
Performance fixes, UI fixes, features.

808
00:50:17,858 --> 00:50:20,318
I've been meeting with them for over a year,

809
00:50:20,418 --> 00:50:22,378
nearly every week, giving them feedback.

810
00:50:22,858 --> 00:50:24,778
I'm running their latest beta right now.

811
00:50:24,898 --> 00:50:26,177
And it's a major improvement.

812
00:50:26,338 --> 00:50:27,418
UI stuff is better.

813
00:50:27,698 --> 00:50:30,677
There's a setting now to go right to your podcast feed, if you're a member.

814
00:50:31,218 --> 00:50:33,138
And the performance has improved.

815
00:50:33,558 --> 00:50:39,198
Outside of all of that, they're making a big push to move forward some of these standards,

816
00:50:39,538 --> 00:50:42,858
like Lightning and the podcasting 2.0 features.

817
00:50:42,858 --> 00:50:45,498
Because that's the other positive impact that's going to be on the show,

818
00:50:45,558 --> 00:50:48,218
is they're just continuing to build out the podcasting 2.0 stuff.

819
00:50:49,038 --> 00:50:51,177
And Twib is making an impact here.

820
00:50:51,238 --> 00:50:54,338
This Week in Bitcoin is helping push these platforms forward.

821
00:50:54,338 --> 00:51:13,738
They seeked us. They wanted us on this platform because with your help, we're helping build out these standards. We're helping these platforms become the best they can and push them forward. And now Fountain's created this open way to support shows via membership with bonus content features, early releases of some podcasters are doing using lightning.

822
00:51:14,658 --> 00:51:16,558
That's really exciting as a content creator.

823
00:51:16,618 --> 00:51:18,638
And it's something I just, I want to play with.

824
00:51:18,918 --> 00:51:23,018
And I wanted to have some kind of bonus content ready right now so I could announce and you

825
00:51:23,018 --> 00:51:26,578
can go try it now and play around with it because this is really exciting.

826
00:51:27,457 --> 00:51:31,078
But the recent trip sort of made the timing of that kind of impossible.

827
00:51:31,338 --> 00:51:37,677
So instead, I figured, why not ask you, since I've got you right now, what kind of bonus

828
00:51:37,677 --> 00:51:39,058
content would you like to hear?

829
00:51:40,258 --> 00:51:41,218
Let me know.

830
00:51:41,898 --> 00:51:43,377
Cashew could be one.

831
00:51:43,598 --> 00:51:45,018
You know, liquid could be another.

832
00:51:45,498 --> 00:51:49,598
I'm thinking something hyper-focused could be a story, a topic, could be a revisit, something

833
00:51:49,598 --> 00:51:53,718
hyper-focused, in-depth that you're, you know, going to get value from.

834
00:51:54,038 --> 00:51:56,177
So I'd love to hear some of your ideas on that.

835
00:51:56,618 --> 00:51:58,977
And it's exciting to try out the Fountain platform.

836
00:51:59,198 --> 00:52:02,377
It's as of the last episode, we've been publishing on the new Fountain platform.

837
00:52:02,898 --> 00:52:04,618
And I think it's been pretty robust.

838
00:52:05,018 --> 00:52:05,998
It's working pretty good.

839
00:52:05,998 --> 00:52:08,838
And if anything changes, I'll keep you informed.

840
00:52:11,218 --> 00:52:27,118
But your buddy, Scott Besant, the Treasury Secretary, has been floated as the possible next Federal Reserve Chair.

841
00:52:27,358 --> 00:52:32,938
And he was on Fox Business, and she put the question right to him.

842
00:52:32,938 --> 00:52:50,258
This would be something that has happened, I believe, once, but it's possible to have the Treasury secretary also be the chair of the Federal Reserve, which would essentially remove any illusion of independence around the Federal Reserve.

843
00:52:50,398 --> 00:52:56,358
So it would be a massive deal. And I don't think they're willing to commit to it happening yet.

844
00:52:57,258 --> 00:52:58,818
With those elections.

845
00:52:58,818 --> 00:53:05,118
OK, I want to ask you two about the Fed chair. The president has said this week, among other things, called Jerome Powell a moron.

846
00:53:05,418 --> 00:53:07,258
They are not besties at this point, it appears.

847
00:53:07,798 --> 00:53:14,258
There's speculation now that he may go ahead and announce a replacement for him way early since his term is not up until next May.

848
00:53:14,718 --> 00:53:15,818
Wall Street Journal reporting this.

849
00:53:15,918 --> 00:53:27,558
An early announcement could allow the chair in waiting to influence investor expectations about the likely path for rates like a backseat driver attempting to steer monetary policy before Powell's term ends.

850
00:53:27,558 --> 00:53:31,638
you have demurred on whether you would be the guy for that job. But what do you think is the

851
00:53:31,638 --> 00:53:36,558
impact of all of this, this public back and forth with the Fed chair? Well, Shannon, I'm a basketball

852
00:53:36,558 --> 00:53:41,957
fan. And in basketball, there are two schools working the refs. There's the Bobby Knight School

853
00:53:41,957 --> 00:53:47,278
and the Dean Smith School. Obviously, President Trump's more in the Bobby Knight School. And I

854
00:53:47,278 --> 00:53:52,018
will tell you, Bobby Knight won three national championships. Dean Smith only won two. So working

855
00:53:52,018 --> 00:53:58,058
the rough seems to be effective. I don't think that's a good analogy. And I think the reason he

856
00:53:58,058 --> 00:54:06,498
used that analogy is he expected it to go right over her head. Unfortunately, she completely caught

857
00:54:06,498 --> 00:54:11,618
that analogy and turned it back around and he was not ready for the turnaround. Take a listen.

858
00:54:12,218 --> 00:54:16,677
Three national championships, Dean Smith only won two. So working the rough seems to be effective.

859
00:54:16,977 --> 00:54:20,338
So there may be some chair throwing. That's what you're saying. There might be some chair

860
00:54:20,338 --> 00:54:22,698
throwing if we're going with the Bobby Knight School of how this is done?

861
00:54:23,218 --> 00:54:31,318
I think about this. There are good candidates already on the Fed board for Fed chair,

862
00:54:31,558 --> 00:54:37,138
and they make their opinions known at every meeting. So I don't find that disruptive at all.

863
00:54:37,477 --> 00:54:40,638
Okay. Mr. Secretary, great to have you with us. Thank you so much for the time.

864
00:54:40,718 --> 00:54:46,038
That's not really a no. That was not really an answer. His answer was, well, we have other people

865
00:54:46,038 --> 00:54:51,138
voicing their opinions. That doesn't disrupt. So if there was a Fed chair picked early and he

866
00:54:51,138 --> 00:54:56,778
voiced his opinion, that wouldn't be disruptive. I guess there kind of is an answer in there.

867
00:54:57,977 --> 00:55:01,918
Okay, so I thought this was noteworthy. I don't normally cover this type of stuff,

868
00:55:02,058 --> 00:55:07,957
but it seems that attackers have targeted Bitcoin wallets from a long time ago. In fact,

869
00:55:08,038 --> 00:55:12,918
ones that may be connected with Mt. Gox. They've launched a phishing attack aimed at Bitcoin

870
00:55:12,918 --> 00:55:17,078
wallets holding more than $8 billion in Bitcoin. Of course, that'd be a great problem to have,

871
00:55:17,138 --> 00:55:21,318
wouldn't it? This is coming from BitMEX Research, and they've identified, which is essentially an

872
00:55:21,318 --> 00:55:27,818
attempted scam, noting that attackers sent an op return transaction and embedded a message

873
00:55:27,818 --> 00:55:32,318
to the wallet's address. Essentially, the message says, we think this Bitcoin wallet has been

874
00:55:32,318 --> 00:55:37,598
abandoned, and our client is trying to verify that. It contains a link to a suspicious website

875
00:55:37,598 --> 00:55:42,078
pretending to be affiliated with the defunct Wall Street bank, the Solomon Brothers firm,

876
00:55:42,078 --> 00:55:47,198
falsely says that the wallet appears abandoned and that they're looking for details because

877
00:55:47,198 --> 00:55:50,258
there's going to be like some sort of reclaiming procedure that's going to take place.

878
00:55:51,138 --> 00:55:55,058
And BitMEX says this is ongoing, that they're targeting multiple Bitcoin addresses that date

879
00:55:55,058 --> 00:56:02,058
back to 2011. It's a legitimate ongoing attack and multiple older Bitcoin wallets from around

880
00:56:02,058 --> 00:56:07,918
2011 have been confirmed to be targeted. It's fascinating. So they're putting a message in

881
00:56:07,918 --> 00:56:13,038
op return saying, and people happen to notice it, I suppose. I mean, it's rare, but maybe you see

882
00:56:13,038 --> 00:56:17,598
something come in on a really old Bitcoin wallet and it has a message that says, hey, we're trying

883
00:56:17,598 --> 00:56:21,858
to validate this is still active. I mean, it'd be a little spooky if you actually think about it.

884
00:56:23,457 --> 00:56:29,778
I wanted to make you aware of some videos that could be worth your time. Europe's biggest Bitcoin

885
00:56:29,778 --> 00:56:34,877
conference, BTC Prague, wrapped up a couple of weeks ago. And the videos from that event

886
00:56:34,877 --> 00:56:37,638
have been trickling onto their YouTube channel.

887
00:56:37,758 --> 00:56:39,418
I think there's about 14 or so,

888
00:56:40,058 --> 00:56:41,218
maybe a couple of more than that,

889
00:56:41,278 --> 00:56:42,758
depends on when you listen to this.

890
00:56:43,158 --> 00:56:44,957
But it's the BTC Prog YouTube channel,

891
00:56:45,018 --> 00:56:46,838
and I'll put a link to that in the show notes.

892
00:56:47,758 --> 00:56:50,058
There's a few on there that I think are worth checking out.

893
00:56:50,398 --> 00:56:52,938
And as you might guess, I've picked one of them up.

894
00:56:52,938 --> 00:57:11,498
sailor of course was one of the presenters it's a long talk it's his bitcoin getting to 21 million

895
00:57:11,498 --> 00:57:17,858
in 21 years talk but i did clip just a bit i thought was interesting because sailor addressed

896
00:57:17,858 --> 00:57:24,858
some common objectives that I hear. Like the first one is, I'm too late on Bitcoin. I hear that all

897
00:57:24,858 --> 00:57:30,118
the time. Now, some common objections. You're going to hear these objections. You're going to hear

898
00:57:30,118 --> 00:57:38,358
more of them from all of your wealthy financial advisors or wealthy friends that are no coiners.

899
00:57:38,498 --> 00:57:44,838
And they're going to say things like, it's too late. It's too late. You did it. But if I'd done

900
00:57:44,838 --> 00:57:50,898
it back in 2013 or done it in 2020 or done it whenever it's too late. But here's what I have

901
00:57:50,898 --> 00:57:58,918
to say. Henry Ford decided to harness fire a million years after human beings discovered fire.

902
00:57:58,918 --> 00:58:07,338
It was not too late. It's not too late to use the wheel. It's not too late to master explosives.

903
00:58:08,218 --> 00:58:14,518
It's not too late. If you need a gun and someone invented a gun 500 years ago, you're not going to

904
00:58:14,518 --> 00:58:20,618
say, well, I guess it's too late for me. Or how about English? Someone learned English before you.

905
00:58:20,877 --> 00:58:26,877
It's too late. It's an old language. I guess it's not that useful anymore. Or to fly. I'm not the

906
00:58:26,877 --> 00:58:32,778
first person to fly. There's another company in my town. They installed electricity. It's too late

907
00:58:32,778 --> 00:58:39,278
for my company. After all, someone else installed electricity first. I don't really need electricity.

908
00:58:39,278 --> 00:58:46,938
is too late. Or the mobile phone, too late to use a computer, too late to get on the internet,

909
00:58:47,938 --> 00:58:53,738
too late to go to space, it's too late to buy a Bitcoin. Here's what they're missing.

910
00:58:54,578 --> 00:59:02,278
Bitcoin's technology is not a speculation. It's the ignorant speculators that think it's too late

911
00:59:02,278 --> 00:59:07,918
because they don't understand that it's digital energy, it's digital technology.

912
00:59:08,558 --> 00:59:12,598
It's never too late to master technology.

913
00:59:13,477 --> 00:59:17,858
And I would leave you with the thought, it's never too late to do the right thing.

914
00:59:18,638 --> 00:59:19,598
I mean, it's very simple.

915
00:59:20,338 --> 00:59:21,498
Second big objection.

916
00:59:21,758 --> 00:59:23,118
Oh, it's a Ponzi scheme.

917
00:59:23,438 --> 00:59:25,977
It's tulip bulbs, blah, blah, blah.

918
00:59:26,138 --> 00:59:27,618
It seems too good to be true.

919
00:59:28,538 --> 00:59:30,818
The four most dangerous words in finance.

920
00:59:30,818 --> 00:59:31,957
This time it's different.

921
00:59:32,278 --> 00:59:37,938
John Templeton. Well, Sir John Templeton is not on the walls of MIT's great court.

922
00:59:38,558 --> 00:59:44,877
They have Newton and Madame Curie and Einstein, you know, and Galileo, but they did not put his

923
00:59:44,877 --> 00:59:50,918
name up there because he's not a scientist or an engineer. And the point is, this is different.

924
00:59:50,918 --> 00:59:59,238
Fire is different. Water is different. Wind is different. These things, guns, germs,

925
00:59:59,238 --> 01:00:05,938
when the spaniards show up in the new world and 90 of the native american indians die because of

926
01:00:05,938 --> 01:00:13,758
the germs it was different right these things are not the same john d rockefeller noticed oil was

927
01:00:13,758 --> 01:00:21,457
different if you're actually basing your strategy on a technology or a paradigm shift then in fact

928
01:00:21,457 --> 01:00:29,218
it is different. And the point here is Bitcoin is different. That's why it matters.

929
01:00:30,118 --> 01:00:36,278
People that tell you it's not different, they don't understand it. Don't be swayed by them.

930
01:00:36,278 --> 01:00:52,158
let's check in on the state of the network before i get out of here wrapping up at block height 904

931
01:00:52,158 --> 01:01:01,398
798 oh we are cooking we are cooking right now we are just down 0.3 percent from an all-time high

932
01:01:01,398 --> 01:01:05,858
current Bitcoin USD price is $111,660.

933
01:01:06,498 --> 01:01:10,177
That means sats per dollar, 896 sats to $1.

934
01:01:11,438 --> 01:01:11,998
Wow.

935
01:01:12,538 --> 01:01:15,278
Now we were at an all-time high at May 22nd.

936
01:01:15,477 --> 01:01:16,518
That's 48 days ago.

937
01:01:17,238 --> 01:01:17,638
Wow.

938
01:01:17,818 --> 01:01:19,177
We're really cooking since I started.

939
01:01:19,477 --> 01:01:20,138
That's really something.

940
01:01:20,898 --> 01:01:21,218
Aha.

941
01:01:21,558 --> 01:01:25,038
Looks like our next difficulty retarget date will be July 12th,

942
01:01:25,038 --> 01:01:28,138
with an adjustment upwards of 6.8%,

943
01:01:28,138 --> 01:01:31,898
nearly taking out all of the downward adjustment we saw just recently.

944
01:01:33,718 --> 01:01:38,098
There are currently 22,829 reachable nodes on the network,

945
01:01:38,758 --> 01:01:44,018
and Bitcoin knots currently sitting at 13.5% of those nodes.

946
01:01:44,638 --> 01:01:45,377
How about that?

947
01:01:46,258 --> 01:01:48,177
Man, things are really hauling right now.

948
01:01:48,278 --> 01:01:50,158
The state of the Bitcoin network is strong.

949
01:01:50,258 --> 01:01:52,018
Don't worry about those low transactions.

950
01:01:52,977 --> 01:01:54,358
Fee rate one sat for V-Byte?

951
01:01:55,058 --> 01:01:55,918
Go play with Lightning.

952
01:01:55,918 --> 01:01:57,198
This is an opportunity.

953
01:01:58,138 --> 01:02:00,598
Bitcoin Network is doing just fine.

954
01:02:11,357 --> 01:02:16,897
Well, if you made it this far, go check out the links at thisweekinbitcoin.show.

955
01:02:17,037 --> 01:02:19,957
That is over at the main Jupyter Broadcasting website now.

956
01:02:20,697 --> 01:02:23,957
Love to hear your feedback and ideas to what we can do to make that site better.

957
01:02:24,717 --> 01:02:29,817
Now, my goal with this show is to not get distracted by the emotions around what is happening or the noise.

958
01:02:30,397 --> 01:02:32,537
You notice we didn't talk about Jeffrey Epstein this week.

959
01:02:32,597 --> 01:02:34,857
Some Bitcoin podcasts are going to get distracted by that stuff.

960
01:02:34,957 --> 01:02:35,937
We focus on the signal.

961
01:02:36,517 --> 01:02:37,697
Let me know how I did with the boost.

962
01:02:37,697 --> 01:02:40,257
and of course boost it with what you'd like to see from the show

963
01:02:40,257 --> 01:02:42,257
or maybe what you thought I missed.

964
01:02:42,337 --> 01:02:43,557
I always want to hear that from you.

965
01:02:43,997 --> 01:02:46,597
Now, I'm going to leave you with a brand new album.

966
01:02:46,677 --> 01:02:49,517
I think it just came out a couple of days ago called Bitcoin Block Party.

967
01:02:49,957 --> 01:02:51,337
There's a lot of great tracks over there.

968
01:02:51,337 --> 01:02:52,737
It's by QuickTune21.

969
01:02:53,457 --> 01:02:56,237
And this week's track is Coins and Consequences.

970
01:02:56,337 --> 01:02:57,737
Go check out the full album.

971
01:02:57,877 --> 01:02:58,817
Link in the show notes.

972
01:02:59,237 --> 01:03:00,177
And I'll see you next week.

973
01:03:07,697 --> 01:03:10,197
They ain't read the white paper, just chase hype.

974
01:03:10,197 --> 01:03:12,757
Now they work in doubles, trying to fix they life.

975
01:03:12,757 --> 01:03:15,577
Coins and consequences, this ain't no game.

976
01:03:15,577 --> 01:03:33,315
If you don do your homework you got yourself to blame Yeah it digital cash but the lessons are real You gotta think long term if you want that meal I don gamble on hype I invest in code Study fundamentals Stay on the road

977
01:03:33,935 --> 01:03:38,375
Buying dips while they crying at tops. In this crypto life, it's lonely at the spot.

978
01:03:38,455 --> 01:03:43,495
Coins and consequences. This ain't no game. If you don't do your homework, you got yourself to blame.

979
01:03:43,495 --> 01:03:45,935
Yeah, it's digital cash, but the lessons are real

980
01:03:45,935 --> 01:03:48,695
You gotta think long term if you want that meal

981
01:03:48,695 --> 01:04:01,595
I taught Lil Bro, don't fall for the shills

982
01:04:01,595 --> 01:04:04,095
They got Ferraris now, but they play with pills

983
01:04:04,095 --> 01:04:06,475
This space full of traps gotta move with grace

984
01:04:06,475 --> 01:04:09,115
Or you'll end up wrecked in this digital race

985
01:04:09,115 --> 01:04:11,795
Coins and consequences, this ain't no game

986
01:04:11,795 --> 01:04:14,295
If you don't do your homework, you got yourself to blame

987
01:04:14,295 --> 01:04:16,755
Yes, digital cash, but the lessons are real

988
01:04:16,755 --> 01:04:19,555
You gotta think long term if you want that meal

989
01:04:19,555 --> 01:04:37,413
Real freedom ain flash it sleeping at night Knowing your wallet tight and your moves was right So I stack slow let them flex in the bends

990
01:04:37,413 --> 01:04:39,993
I'm building real wealth that the market defends

991
01:04:39,993 --> 01:04:42,593
Coins and consequences, this ain't no game

992
01:04:42,593 --> 01:04:45,093
If you don't do your homework, you got yourself to blame

993
01:04:45,093 --> 01:04:47,553
Yes, digital cash, but the lessons are real

994
01:04:47,553 --> 01:04:50,273
You gotta think long term if you want that meal

995
01:04:50,273 --> 01:05:12,193
Real freedom ain't flash

996
01:05:12,193 --> 01:05:13,193
Sleeping at night

997
01:05:13,193 --> 01:05:14,493
Knowing your wallet tight

998
01:05:14,493 --> 01:05:15,753
And your moves was right

999
01:05:15,753 --> 01:05:16,893
So I sag slow

1000
01:05:16,893 --> 01:05:18,493
Let them flex in the bends

1001
01:05:18,493 --> 01:05:19,733
I'm building real wealth

1002
01:05:19,733 --> 01:05:21,033
That the market defends

1003
01:05:21,033 --> 01:05:22,273
Coins and consequences

1004
01:05:22,273 --> 01:05:23,653
This ain't no game

1005
01:05:23,653 --> 01:05:25,033
If you don't do your homework

1006
01:05:25,033 --> 01:05:26,173
You got yourself to blame

1007
01:05:26,173 --> 01:05:27,433
Yeah, it's digital cash

1008
01:05:27,433 --> 01:05:28,613
But the lessons are real

1009
01:05:28,613 --> 01:05:30,033
You gotta think long term

1010
01:05:30,033 --> 01:05:31,353
If you want that meal

1011
01:05:31,353 --> 01:05:34,233
Homies, stop the dead time

1012
01:05:34,233 --> 01:06:05,852
Homies stop the dead time Homies stop the dead time Homies stop the dead time We be right back

1013
01:06:05,872 --> 01:06:07,872
Bomies, no se vemos!

1014
01:06:19,872 --> 01:06:22,872
Bomies, no se vemos!

1015
01:06:31,872 --> 01:06:34,872
Bomies, no se vemos!

1016
01:06:35,872 --> 01:06:50,472
Outro Music