1 00:00:00,000 --> 00:00:18,200 Welcome in to This Week in Bitcoin, episode 131. 2 00:00:18,600 --> 00:00:23,800 My name is Chris, chrislas.com and jupiterbroadcasting.com. 3 00:00:23,920 --> 00:00:24,680 I'm back. 4 00:00:24,900 --> 00:00:26,480 I'm back from my trip to Texas. 5 00:00:26,480 --> 00:00:34,500 And this feels like one of those weeks that if I didn't have a podcast, I'd be launching a podcast. 6 00:00:34,860 --> 00:00:35,880 It's just unbelievable. 7 00:00:36,140 --> 00:00:37,960 So on Monday, I'm listening to all the news. 8 00:00:38,060 --> 00:00:39,200 I'm like, okay, what am I going to be talking about? 9 00:00:39,260 --> 00:00:40,140 What am I going to be talking about? 10 00:00:40,500 --> 00:00:42,600 And everybody's focused on the market on December. 11 00:00:42,880 --> 00:00:44,100 What's December going to bring? 12 00:00:44,200 --> 00:00:45,340 What's December going to be like? 13 00:00:45,360 --> 00:00:46,900 We've got to price that in right now. 14 00:00:47,400 --> 00:00:48,080 Oh, my gosh. 15 00:00:48,100 --> 00:00:49,480 We haven't even gotten to Thanksgiving yet. 16 00:00:49,920 --> 00:00:55,600 Then this morning, Wednesday, as I record, the entire conversation now is pricing in March. 17 00:00:55,600 --> 00:00:58,320 They're talking about March and Bitcoin. 18 00:00:58,840 --> 00:01:01,000 It hasn't loved the results of the conversation. 19 00:01:01,000 --> 00:01:06,540 It has been holding around its 200 day moving average, but it's getting pretty close to it. 20 00:01:06,600 --> 00:01:10,320 So let's get into what's gone wrong since I've been gone. 21 00:01:10,320 --> 00:01:31,860 Well, various heads of the various Federal Reserve banks around the country have been coming out and talking rather routinely tough on inflation, real tough. 22 00:01:31,860 --> 00:01:35,060 And the latest Consumer Inflation Report came in this morning. 23 00:01:35,820 --> 00:01:37,360 And surprise, surprise, everybody. 24 00:01:37,540 --> 00:01:39,100 It's hotter than expected. 25 00:01:39,100 --> 00:01:47,460 And so the Fed was warning everybody, if CPI and inflation don't look better, we're going to get real tough because of our credibility. 26 00:01:47,960 --> 00:01:53,140 Reserve Governor Christopher Waller setting the tone this morning in a speech overseas before the CPI data. 27 00:01:53,520 --> 00:01:56,940 He warned a hot report could mean a quarter point rate hike isn't enough. 28 00:01:57,820 --> 00:02:02,940 I believe a 50 basis point hike in the policy rate should be considered at the December meeting. 29 00:02:03,740 --> 00:02:09,340 Hiking only 25 basis points in that situation would put our credibility at risk. 30 00:02:09,880 --> 00:02:11,580 And that's a risk I'm not eager to take. 31 00:02:11,960 --> 00:02:13,340 Oh, yeah, well, we wouldn't want that. 32 00:02:13,420 --> 00:02:15,140 We wouldn't want your credibility at risk. 33 00:02:15,760 --> 00:02:18,660 And of course, CPI isn't really the number that they look at. 34 00:02:18,740 --> 00:02:22,160 But when they're looking for an excuse to raise rates, maybe they'll look at any number that's hot. 35 00:02:22,780 --> 00:02:25,900 Inflation rose 0.4% in October. 36 00:02:26,360 --> 00:02:32,400 That's a little cooler than the six-tenths of percent increase the month before, but it's still high. 37 00:02:32,400 --> 00:02:35,260 And one note, this month's report doesn't paint the whole picture. 38 00:02:35,680 --> 00:02:43,820 The Bureau of Labor Statistics could not calculate how much prices have risen since this time last year because last year the government was shut down. 39 00:02:44,000 --> 00:02:44,300 Can't be done. 40 00:02:44,500 --> 00:02:46,040 But there is some good news for drivers. 41 00:02:46,200 --> 00:02:52,420 Gas prices have dipped below four bucks a gallon for the first time since July, just in time for the busy holiday travel season. 42 00:02:52,580 --> 00:02:53,140 All right. 43 00:02:53,180 --> 00:02:54,300 So that's been a bit of a relief. 44 00:02:54,300 --> 00:03:10,000 But the issue really is, is not only was it slightly hotter than expected, but this report really stings not only because the Fed's watching real close when they are, but because all of the quote unquote experts out there were expecting this to be one of the best reports of the year. 45 00:03:10,360 --> 00:03:14,320 But Jason and Matt, obviously, this is a little hotter than had been anticipated. 46 00:03:14,560 --> 00:03:15,660 What do you make of that? 47 00:03:15,760 --> 00:03:16,480 Matt, we'll start with you. 48 00:03:16,480 --> 00:03:23,900 Yeah, I mean, these are supposed to be like the next three prints, including the one we just got today, are supposed to be the best prints we get of the year. 49 00:03:24,300 --> 00:03:33,380 The residual seasonality that the Bureau of Labor Statistics has not been able to sort of correct for suggests that these should be the best numbers we get of the year. 50 00:03:33,500 --> 00:03:40,380 The fact that they are looking like they're not going to be the best numbers that we get may very well have implications for the Fed. 51 00:03:40,380 --> 00:03:45,580 Yeah. Oh, yeah. So this is where I start to worry just a little bit. 52 00:03:46,320 --> 00:03:50,120 One or two rate hikes of 25 basis points. Bitcoin shrugs that off. 53 00:03:50,120 --> 00:03:53,440 three or more rate hikes, you start talking 50 basis points. 54 00:03:54,220 --> 00:03:57,440 Bitcoin is going to have a much harder time shaking that off. 55 00:03:57,560 --> 00:04:01,140 And it seems that the Bitcoin ETF holders are pricing that in right now. 56 00:04:01,600 --> 00:04:04,700 They have been selling like lettuce hands this last couple of weeks. 57 00:04:05,240 --> 00:04:08,580 That and there's this other story going around 58 00:04:08,580 --> 00:04:13,120 that maybe is impacting perhaps the biggest trade in the world. 59 00:04:13,760 --> 00:04:16,740 Good evening, everyone, and thank you for joining us this Sunday. 60 00:04:16,740 --> 00:04:23,720 Tonight, AI giant NVIDIA says it has opened an investigation into its CEO and co-founder Jensen Wong. 61 00:04:23,980 --> 00:04:32,900 Wong, one of the most powerful AI leaders, has admitted to having a relationship with what U.S. intelligence services are calling a Chinese spy. 62 00:04:33,480 --> 00:04:39,560 CBS's Akiko Fujita in Los Angeles has new details on what happened and the possible fallout. Akiko. 63 00:04:40,440 --> 00:04:42,100 Good evening to you, Jerika. 64 00:04:42,100 --> 00:04:46,500 This is an investigation that will reverberate well beyond Silicon Valley. 65 00:04:46,740 --> 00:04:52,380 NVIDIA's ships are critical to advancing AI technology, and the company has become a vital 66 00:04:52,380 --> 00:04:59,120 funding source in financing America's AI build-out. Now the very person who pushed to sell 67 00:04:59,120 --> 00:05:04,100 advanced ships to China has admitted to a relationship with a suspected spy from that 68 00:05:04,100 --> 00:05:10,440 very country. Tonight, a shocking revelation from NVIDIA CEO and co-founder Jensen Huang, 69 00:05:10,440 --> 00:05:16,020 the executive at the center of the AI boom, admitting to an affair with a Chinese spy. 70 00:05:16,580 --> 00:05:18,640 Huang apologized in a statement saying, 71 00:05:19,060 --> 00:05:20,880 I was unfaithful to my wife. 72 00:05:21,000 --> 00:05:23,260 My actions hurt her and our children. 73 00:05:24,020 --> 00:05:26,820 NVIDIA's board announced it is initiating an investigation, 74 00:05:26,820 --> 00:05:32,500 but has no reason to believe national security or NVIDIA secrets were compromised. 75 00:05:33,260 --> 00:05:37,000 This in a week when the race to build AI hit new speed bumps, 76 00:05:37,160 --> 00:05:42,560 with voters overwhelmingly rejecting the construction of data centers that power the technology. 77 00:05:43,200 --> 00:05:47,480 Those challenges amplified by Democratic wins in Texas, Ohio, and Georgia, 78 00:05:47,700 --> 00:05:51,020 where nearly half of all new data centers are planned. 79 00:05:51,420 --> 00:05:54,400 Fear of an AI slowdown rocked Wall Street Thursday. 80 00:05:54,820 --> 00:05:57,200 Steve Sosnick tracks tech valuations. 81 00:05:57,200 --> 00:06:02,220 The market mindset was any money that was spent on AI was money well spent. 82 00:06:02,640 --> 00:06:04,420 That mentality seems to have changed. 83 00:06:04,700 --> 00:06:11,800 Still, tech companies like Meta, NVIDIA, and Alphabet are forecast to spend a trillion dollars to build out AI this year. 84 00:06:12,340 --> 00:06:13,400 Daryl West is a policy. 85 00:06:13,400 --> 00:06:16,500 You know, I have to say, it's alleged that she's a spy. 86 00:06:17,280 --> 00:06:18,240 She might not be a spy. 87 00:06:18,580 --> 00:06:20,320 She probably is a spy, but she might not be a spy. 88 00:06:20,720 --> 00:06:24,120 The process of determining that alone is going to be such a mess. 89 00:06:24,160 --> 00:06:25,080 This entire thing. 90 00:06:25,680 --> 00:06:28,600 I cannot think of another word than a giant mess. 91 00:06:28,820 --> 00:06:30,380 And it could go a lot of ways. 92 00:06:30,940 --> 00:06:34,260 But going away, I don't think is going to be one of them. 93 00:06:34,960 --> 00:06:40,940 CNBC is reporting that there is an effort inside the U.S. government to push this story to the public. 94 00:06:40,940 --> 00:06:43,200 and they don't seem to be slowing down. 95 00:06:43,560 --> 00:06:44,780 Jensen Wong is an honorable guy. 96 00:06:45,240 --> 00:06:48,800 All of that, though, is going to make it very difficult for Jensen Wong to hang on. 97 00:06:49,160 --> 00:06:50,740 And I think there's two reasons for that, Morgan. 98 00:06:50,880 --> 00:06:56,180 One is the relentlessness of the sources here for The New York Times and the FT. 99 00:06:56,180 --> 00:06:59,680 They keep citing four officials familiar with this situation, 100 00:06:59,800 --> 00:07:02,900 and these four officials keep putting out new information 101 00:07:02,900 --> 00:07:05,460 every time this story seems like it's about to die. 102 00:07:06,040 --> 00:07:07,220 So just to be clear here, 103 00:07:07,220 --> 00:07:19,760 The man on the CNBC screen is telling us that there are four officials in the United States government that are continuing to put pressure on the story every time it starts to die down a little bit. 104 00:07:19,880 --> 00:07:20,820 They're trickle feeding. 105 00:07:20,920 --> 00:07:22,320 They're letting more information out. 106 00:07:22,880 --> 00:07:25,920 They're the ones that were the original sources for the story. 107 00:07:26,040 --> 00:07:28,680 That's in the reporting by the BBC and TechCrunch. 108 00:07:28,780 --> 00:07:30,520 It cites that it came from intelligence officials. 109 00:07:31,080 --> 00:07:32,460 Now, why would they be doing that? 110 00:07:32,980 --> 00:07:34,260 I think there's a lot of reasons. 111 00:07:34,380 --> 00:07:36,380 I'd love to hear your speculation if you want to boost in. 112 00:07:36,380 --> 00:07:46,080 But I think that's pretty fascinating. U.S. officials inside the government could be undoing the very trade that is keeping the whole system afloat. 113 00:07:46,840 --> 00:07:51,160 Keep putting out new information every time this story seems like it's about to die. 114 00:07:51,320 --> 00:07:57,960 And so there seems to be a real commitment on the part of somebody inside the U.S. government to push Jensen Wong out of this position. 115 00:07:57,960 --> 00:08:05,580 And presumably, given that there was surveillance of Alice Wong, they have a lot more details here on what happened than we do. 116 00:08:05,580 --> 00:08:14,900 And so the leaking could continue. And then the second thing is clearly there was some effort to misdirect the public by NVIDIA last week. 117 00:08:15,100 --> 00:08:24,540 NVIDIA put out a statement suggesting that Jensen Wong's relationship with Alice Wong was business as usual, nothing more than meeting with a typical customer, as Jensen does all the time. 118 00:08:24,860 --> 00:08:28,500 And then a couple of days later, forced to admit, actually, he had an affair with her. 119 00:08:28,500 --> 00:08:54,272 So someone apparently lied to someone there And that is the kind of thing that boards of directors generally don like And it just difficult from a corporate governance standpoint to move forward Yeah it tricky It real tricky Well what we do know is that this thing been going on for a while And I don really care about the affair aspect I kind of care more about how it impacts all of us And what I find fascinating is the timeline that we can put together on our own right now 120 00:08:54,272 --> 00:09:05,812 It seems as early of September 2024, the United States Department of Commerce, Bureau of Industry and Security, had begun an investigation into Megaspeed and Alice Wong. 121 00:09:06,352 --> 00:09:10,912 Megaspeed is the corporation they're claiming sits between NVIDIA and China. 122 00:09:11,632 --> 00:09:14,892 Ironic, Megaspeed, kind of funny. 123 00:09:15,372 --> 00:09:21,372 And I think some of their primary evidence is that Megaspeed has GPU sitting in boxes unused as if they're shipping them between customers. 124 00:09:21,992 --> 00:09:25,912 So United States government has known this since 2024. 125 00:09:26,792 --> 00:09:31,752 And CNBC says that there is a, quote, relentlessness to the sources behind this. 126 00:09:32,032 --> 00:09:38,212 And I thought I find just all of that to be interesting because you consider where this could lead in the long term. 127 00:09:39,212 --> 00:09:46,872 Welcome back. The latest reporting from The New York Times indicates President Trump knew China was spying on NVIDIA CEO Jensen Wang in May. 128 00:09:46,872 --> 00:09:52,672 The Times has reported the president was briefed last fall about the situation and chose to take no action at the time. 129 00:09:52,972 --> 00:09:56,372 The president denies knowing this. Joining us now is Demetri. 130 00:09:56,852 --> 00:09:59,032 So this could go all the way up to the president. 131 00:09:59,352 --> 00:10:02,552 At least you could see the performative investigations going all the way up. 132 00:10:02,572 --> 00:10:07,812 And I think is the longer this stretches out, the more it it slows down the A.I. trade. 133 00:10:07,892 --> 00:10:11,812 This is in a weird way going to prevent this A.I. bubble that everybody was worried about. 134 00:10:11,892 --> 00:10:15,852 It's it has been unwinding right now. And this is this is probably going to see to it. 135 00:10:15,852 --> 00:10:18,492 So you can see investigations that try to reach to Trump. 136 00:10:18,792 --> 00:10:21,312 You can see it screwing with the AI trade along the way. 137 00:10:21,812 --> 00:10:26,452 And I know you know this already, but just to make sure it's obvious, the reason why 138 00:10:26,452 --> 00:10:30,712 this is such a big deal is because NVIDIA is the center of the AI trade. 139 00:10:31,552 --> 00:10:35,552 I want to understand your reaction to what you're seeing play out, but really the impact 140 00:10:35,552 --> 00:10:42,552 on NVIDIA itself and ultimately to the degree you believe it's the central bank of AI, the 141 00:10:42,552 --> 00:10:43,852 impact on the industry. 142 00:10:44,212 --> 00:10:44,972 Good morning. 143 00:10:44,972 --> 00:10:49,972 Yeah, honestly, it's a good way to think about it is that it's kind of like the central bank of the AI economy at the moment. 144 00:10:50,512 --> 00:10:56,872 They set rates, they pace the frontier, they fund the ecosystem at scale with both chips and dollars. 145 00:10:57,612 --> 00:11:07,612 And frankly, right now they are the shelling point for where so many investors are trying to understand how this infrastructure build out in the AI trade is going to continue to grow. 146 00:11:07,612 --> 00:11:13,812 and they understand and are trying to take sort of very pro growth and a very pro open growth role 147 00:11:13,812 --> 00:11:18,792 to investing in the ecosystem, not just with their chips, but again, with their dollars too. 148 00:11:19,012 --> 00:11:22,912 And so they've been making investments into companies like Hugging Face, which they acquired, 149 00:11:23,092 --> 00:11:28,132 Perplexity, our portfolio company, and then continuing to support open models, both, 150 00:11:28,132 --> 00:11:31,932 you know, in China, which I'm sure we'll talk about, but also here in the United States. So 151 00:11:31,932 --> 00:11:37,072 they are indeed like a central bank at this moment in that they're supporting so many aspects of the 152 00:11:37,072 --> 00:11:44,952 ecosystem. You know, first of all, that is true. But second of all, are you just like disgusted at 153 00:11:44,952 --> 00:11:48,692 how that is the analogy of a central bank, something that is involved in every single 154 00:11:48,692 --> 00:11:54,312 aspect of the economy and picking the winners and the losers? And so when they need an analogy, 155 00:11:54,312 --> 00:12:00,372 they go to central banking. Does nobody see the problem with that? Like that is, I think, 156 00:12:01,112 --> 00:12:07,052 an incredible capsule, little time capsule of where people are at that are inside the systems 157 00:12:07,052 --> 00:12:10,812 that are so trapped inside the system, they can't see any other way. 158 00:12:11,232 --> 00:12:15,592 Like that clip right there blows my mind that when they need some kind of analogy, 159 00:12:15,692 --> 00:12:17,592 they went to the central bank for that. 160 00:12:17,972 --> 00:12:19,832 It shouldn't be like that, people. 161 00:12:20,392 --> 00:12:21,972 That's not how it's supposed to work. 162 00:12:22,452 --> 00:12:26,612 Anyways, depending on how the rate hikes play out, which so far don't seem favorable, 163 00:12:26,612 --> 00:12:31,212 although, my God, they'd have to be real dumb to raise the rates that much more 164 00:12:31,212 --> 00:12:32,172 because people are struggling. 165 00:12:32,272 --> 00:12:32,792 But let's see. 166 00:12:32,792 --> 00:12:44,832 And depending on how the fallout of a billionaire having an affair with potential Chinese spy goes, there is going to be serious second order effects in the liquidity of the market. 167 00:12:45,412 --> 00:12:47,072 That's the world we live in right now. 168 00:12:47,352 --> 00:12:49,452 And I'm kind of angry about it. 169 00:12:49,732 --> 00:12:51,412 I'm angry that's the world we live in. 170 00:12:51,452 --> 00:12:53,372 But that is the world we live in. 171 00:12:53,372 --> 00:13:03,072 And if things were already not opaque and difficult to sort with so much changing, the death of the Clarity Act may have been greatly exaggerated. 172 00:13:03,072 --> 00:13:07,572 Only what it comes back as, I don't think any of us are going to like. 173 00:13:07,572 --> 00:13:23,092 To your point, with Democrats having won both chambers, the oversight committees are expected to be led by Elizabeth Warren at Senate Banking, Sherrod Brown at Senate Agriculture, and Maxine Waters at House Financial Services. 174 00:13:23,212 --> 00:13:34,692 All three have been quite vocal critics of this industry and a lot of this innovation that's being built out, many of them taking point actively and in what was later called Operation Chokepoint 2.0. 175 00:13:34,692 --> 00:13:38,232 So, you know, how is this going to affect the industry, right? 176 00:13:38,312 --> 00:13:45,032 I mean, for two years now, we seemingly have the regulatory agencies that are wanting to work with this industry and regulate it. 177 00:13:45,352 --> 00:13:49,152 And then you have the oversight committees that have a track record of being quite hostile. 178 00:13:49,312 --> 00:13:52,312 How does that dynamic play out over the next couple of years? 179 00:13:52,732 --> 00:13:55,852 The guest here is a former CFTC chairman. 180 00:13:56,152 --> 00:13:59,312 I think it's Christopher Genicaro might be how you say his last name. 181 00:13:59,812 --> 00:14:03,252 So he has some standing since he has been leading the CFTC in the past. 182 00:14:03,252 --> 00:14:32,912 Well, let me once again start with the long term. It's not going to stop this innovation. Just as the Biden administrations, as I recount in detail in my new book, the last two years were about as hostile to this innovation as you can possibly get from not only debanking the corporations, but debanking their founders and their CEOs to issuing Wells notices when there wasn't investigations even going on to not cooperating with Congress. 183 00:14:32,912 --> 00:14:39,012 on drafting legislation. I mean, there was such hostility from the agencies to this innovation. 184 00:14:39,232 --> 00:14:45,272 And what happened? It didn't stop it. Some of the very firms that were attacked by the administration, 185 00:14:45,592 --> 00:14:52,732 Coinbase, Paxos, XRP, and others are doing just fine. Thank you very much. They were able to 186 00:14:52,732 --> 00:14:59,292 survive. And in many cases, I've gotten stronger. So if we even get a return to half of that, 187 00:14:59,292 --> 00:15:01,732 I don't think it's really going to change. 188 00:15:02,112 --> 00:15:06,492 If we get a return to all of that, I don't think it's going to change the general trajectory 189 00:15:06,492 --> 00:15:12,792 of this because this is no longer about some new alternative asset class where the question 190 00:15:12,792 --> 00:15:13,952 is number go up. 191 00:15:14,232 --> 00:15:19,192 This is really permeating the entire traditional financial system. 192 00:15:19,412 --> 00:15:21,012 And so some of the incentives are changing. 193 00:15:21,172 --> 00:15:24,312 And I kind of tend to agree with him in a sense. 194 00:15:24,772 --> 00:15:28,492 You could argue that Bitcoin did better under Biden than it has under Trump. 195 00:15:28,492 --> 00:15:33,372 different macro conditions, but the truth is the truth. And that was when they were pretty hostile 196 00:15:33,372 --> 00:15:40,272 towards the entire industry. So a return to that might be bad for a lot of crypto, but not necessarily 197 00:15:40,272 --> 00:15:46,292 bad for Bitcoin. And I think this is also kind of why I've been a little extra frustrated this week. 198 00:15:46,292 --> 00:15:51,932 And I'm wondering if you guys are feeling this, because here we go. Here we go, right? Bitcoin has 199 00:15:51,932 --> 00:15:58,012 no CEO that can get catfished by a China spy. Not going to be one of the threat vectors to Bitcoin. 200 00:15:58,492 --> 00:16:02,352 inflation is going up, which is what Bitcoin was built for, 201 00:16:02,892 --> 00:16:06,852 and the lettuce hands with the ETFs are selling the scarcest asset in the world. 202 00:16:07,812 --> 00:16:09,592 What? You're doing what? 203 00:16:10,212 --> 00:16:12,192 As your dollar is melting faster, you're doing what? 204 00:16:12,992 --> 00:16:13,352 Okay. 205 00:16:14,112 --> 00:16:18,812 And then, even when the industry was under complete and wide attack by the Biden administration, 206 00:16:19,492 --> 00:16:20,432 Bitcoin did great. 207 00:16:21,052 --> 00:16:21,872 Bitcoin did great. 208 00:16:23,232 --> 00:16:24,592 So here we are. 209 00:16:24,592 --> 00:16:31,212 It's so frustrating to see so many people still not get it, still not get it, at least in the short term. 210 00:16:31,752 --> 00:16:40,672 That's why when I see things like one of the quote unquote big three credit bureaus, you know, these guys that are like all of, oh, we're going to get audited by one of the big three. 211 00:16:41,052 --> 00:16:45,152 When I see one of them step out and say, yeah, actually, pretty proud of Bitcoin. 212 00:16:45,272 --> 00:16:47,072 It's been holding up real well during all of this. 213 00:16:47,552 --> 00:16:49,172 It kind of feels like a bit of validation. 214 00:16:49,172 --> 00:16:57,992 The Binance hack may have been one of the largest crypto thefts on record, but according to Fitch ratings, Bitcoin handled it better than past shocks. 215 00:16:58,352 --> 00:17:09,172 In a report released on Monday, Fitch noted Bitcoin fell about 6% in the 10 hours after the hack was first reported and says broader market weakness and leverage trading also played a role. 216 00:17:09,172 --> 00:17:19,683 That far smaller than Bitcoin 35 drop during the pandemic crash in 2020 and its 14 slide after the collapse of FTX in 2022 217 00:17:20,383 --> 00:17:23,543 Fitch credits deeper, more diversified trading markets, 218 00:17:23,683 --> 00:17:28,303 meaning Bitcoin is less dependent on any one exchange, even the world's largest. 219 00:17:28,803 --> 00:17:34,523 Still, the agency warns cybersecurity remains a significant risk for the industry. 220 00:17:34,863 --> 00:17:38,263 This is an incredibly optimistic and bullish report to see, right? 221 00:17:38,263 --> 00:17:43,603 I mean, overall, it's a fairly constructive note from Fitch, right? 222 00:17:43,683 --> 00:17:48,483 And I think that their words carry a ton of weight for this market, especially at the 223 00:17:48,483 --> 00:17:51,203 dawn of something like, you know, digital credit. 224 00:17:51,443 --> 00:17:58,463 You know, you see firms like MicroStrategy and Strive continuing to push for Bitcoin-backed 225 00:17:58,463 --> 00:17:59,663 digital credit products. 226 00:18:00,203 --> 00:18:06,303 And for that to be the case, you know, you need to see some big names like Fitch start 227 00:18:06,303 --> 00:18:11,763 to move the needle towards seeing Bitcoin having the qualities that you would want for pristine 228 00:18:11,763 --> 00:18:16,583 collateral. And, you know, one of the biggest gripes has always been this idea of, you know, 229 00:18:16,663 --> 00:18:22,223 Bitcoin relies on these exchanges very heavily. If an exchange were to fall, look what happened 230 00:18:22,223 --> 00:18:27,703 with FTX, right? Look what happened with Celsius. Look what happened with Mt. Gox. But now you just 231 00:18:27,703 --> 00:18:32,683 had something critical happen and Fitch is saying, look, the market is deep enough and liquid enough 232 00:18:32,683 --> 00:18:37,443 and sturdy enough where, you know, nothing really happened. And part of that might've been seller 233 00:18:37,443 --> 00:18:42,183 exhaustion. A lot of it was probably just market liquidity and maturity. And it is important to 234 00:18:42,183 --> 00:18:48,443 note that, you know, they did clarify along the lines saying that, you know, the event by itself 235 00:18:48,443 --> 00:18:53,743 doesn't change their analytical view on Bitcoin backed securities. But at the same time, I think 236 00:18:53,743 --> 00:19:00,003 it is a step in that right direction, right? The evidence is that the Bitcoin market is deeper, 237 00:19:00,003 --> 00:19:07,723 more liquid and you know it's it's able to support things like this that happen i tend to think it's 238 00:19:07,723 --> 00:19:12,723 a good it's a good thing i do i like these kinds of things not because i care about them spending 239 00:19:12,723 --> 00:19:17,883 their money or whatever i mean i suppose i do but because it's it's sort of reinforcing this crazy 240 00:19:17,883 --> 00:19:25,743 dual dichotomy market we're seeing where there is the folks like you and i who we're holding 241 00:19:25,743 --> 00:19:27,563 and we're adding if we can 242 00:19:27,563 --> 00:19:30,083 and the conviction hasn't been shaken. 243 00:19:30,483 --> 00:19:31,843 Then you've got like people 244 00:19:31,843 --> 00:19:33,383 that seem to have disposable income 245 00:19:33,383 --> 00:19:34,523 more than they need 246 00:19:34,523 --> 00:19:37,083 and they seem to just be really lettuce hands 247 00:19:37,083 --> 00:19:38,923 moving in between different trades, 248 00:19:39,063 --> 00:19:40,123 buying and selling all the time. 249 00:19:40,363 --> 00:19:41,743 Then of course you got the investor class. 250 00:19:41,983 --> 00:19:42,723 And then above that, 251 00:19:42,763 --> 00:19:44,883 you've got the really big institutions, 252 00:19:45,403 --> 00:19:46,083 the big ones. 253 00:19:46,083 --> 00:19:48,403 And they all seem very, very bullish 254 00:19:48,403 --> 00:19:49,923 on Bitcoin long-term. 255 00:19:50,103 --> 00:19:51,683 So it's this weird middle layer 256 00:19:51,683 --> 00:19:53,463 that is really still wishy-washy 257 00:19:53,463 --> 00:19:54,983 that has the disposable income 258 00:19:54,983 --> 00:19:56,183 that hasn't figured it out yet. 259 00:19:56,523 --> 00:19:59,063 So we're on a razor's edge, 260 00:19:59,403 --> 00:20:01,723 hovering right around that 200-day moving average. 261 00:20:02,463 --> 00:20:03,923 So what do you think is going to happen? 262 00:20:04,503 --> 00:20:07,323 Boost.JupiterBroadcasting.com, up or down from here. 263 00:20:07,943 --> 00:20:11,303 Our bear market turnaround is under quite the stress test right now. 264 00:20:11,703 --> 00:20:13,743 Not really clear what direction it's going to go. 265 00:20:14,123 --> 00:20:15,263 You know how I like to roll. 266 00:20:15,263 --> 00:20:18,763 So when we got an opportunity to put it out there and see what happens, 267 00:20:18,863 --> 00:20:19,763 I say go for it. 268 00:20:19,783 --> 00:20:21,503 Boost.JupiterBroadcasting.com. 269 00:20:21,823 --> 00:20:22,883 Let me know. 270 00:20:22,883 --> 00:20:33,183 Now, I got to go run and pick up a heat bit because I have a hardware device that is an air purifier and a Bitcoin miner that showed up that I want to tell you about in the update section. 271 00:20:33,463 --> 00:20:35,223 And we have some boost to get into. 272 00:20:52,883 --> 00:21:02,243 All right, if you're going to watch the video version this week, 273 00:21:02,463 --> 00:21:03,923 which I know none of you really do, 274 00:21:04,243 --> 00:21:06,603 but I've got it in studio with me, so it's pretty exciting. 275 00:21:07,083 --> 00:21:08,003 Now, I'll say this. 276 00:21:08,063 --> 00:21:09,483 You can support the show by doing what you do 277 00:21:09,483 --> 00:21:11,963 because links are in the show notes for all of that stuff 278 00:21:11,963 --> 00:21:12,903 that you want to stack SAT. 279 00:21:13,243 --> 00:21:15,823 But you can also support the show just by boosting me directly 280 00:21:15,823 --> 00:21:16,823 or by being a member. 281 00:21:17,363 --> 00:21:19,783 And we do have some great boosts to get to. 282 00:21:19,783 --> 00:21:24,243 And now it is time for Le Boost. 283 00:21:24,383 --> 00:21:27,123 As always, we start with our baller booster. 284 00:21:27,663 --> 00:21:35,143 And buckle up, everybody, because the podfather is here, Mr. Adam Curry, with 366,666 Satoshi! 285 00:21:35,143 --> 00:21:50,503 Adam writes, thanks for the early show before the travel. 286 00:21:50,723 --> 00:21:51,363 It's appreciated. 287 00:21:51,563 --> 00:21:52,343 Oh, thank you, Podfather. 288 00:21:52,463 --> 00:21:57,943 Since you are into MCP servers, I wanted you to know the podcast index has one with a lot of cool tool calls. 289 00:21:58,043 --> 00:22:00,043 I even vibe code my own Android app. 290 00:22:00,143 --> 00:22:04,703 They use it to make recommendations based on what my interests are, where I am and what it's doing. 291 00:22:04,703 --> 00:22:10,783 check out podcast index robot.com not only have i checked it out i hooked it up to my clanker 292 00:22:10,783 --> 00:22:15,683 and it's great too for just like making sure my own podcasts are in there and that kind of stuff 293 00:22:15,683 --> 00:22:20,723 and finding the new stuff and finding some bitcoin content so check it out it's it's great 294 00:22:20,723 --> 00:22:24,543 if you've got a clanker you can post it at you can point it at the podcast robot 295 00:22:24,543 --> 00:22:30,883 podcast index robot.com and yeah like adam too you can you can just clank out your own 296 00:22:30,883 --> 00:22:35,823 podcast app with this really because you can use this to like search for podcasts and really kind 297 00:22:35,823 --> 00:22:42,203 of handle all the discovery and recommendation stuff also the curry caster is out and it's 298 00:22:42,203 --> 00:22:47,043 awesome it looks really great if you're if you're a podcaster who's looking for an all-in-one 299 00:22:47,043 --> 00:22:52,903 dashboard that lets you play clips view your your show outline bring in guests all the stuff 300 00:22:52,903 --> 00:22:57,723 adam has taken his workflow years and years and years and years of building a workflow for 301 00:22:57,723 --> 00:22:59,843 his podcast and put it into this thing. 302 00:23:00,183 --> 00:23:01,823 And it's really great. 303 00:23:01,983 --> 00:23:03,803 So check out Currycaster as well. 304 00:23:04,703 --> 00:23:06,043 I think it's even available. 305 00:23:06,183 --> 00:23:06,803 I think it is. 306 00:23:06,863 --> 00:23:07,763 I think you built it on Linux. 307 00:23:07,963 --> 00:23:08,403 How about that? 308 00:23:08,463 --> 00:23:09,143 All the platforms. 309 00:23:09,263 --> 00:23:10,243 That's available for all the platforms. 310 00:23:10,743 --> 00:23:11,503 Thank you, Podfather. 311 00:23:12,083 --> 00:23:13,343 Appreciate that baller boost. 312 00:23:16,023 --> 00:23:18,563 Fluent Aphasia comes in with another baller boost, 313 00:23:18,643 --> 00:23:20,403 135,000 sats. 314 00:23:27,723 --> 00:23:30,083 This old duck still got it. 315 00:23:30,163 --> 00:23:31,623 Fluent writes, love your show. 316 00:23:31,883 --> 00:23:35,423 And can I shout out BISC version one peer-to-peer Bitcoin trading software? 317 00:23:36,023 --> 00:23:40,663 With the holidays coming up, you can use Bitcoin to directly buy Amazon e-gift card credit. 318 00:23:41,103 --> 00:23:44,143 Frequently get 3% to 6% above the market price for your Bitcoin. 319 00:23:44,363 --> 00:23:47,503 Spend and replace your Bitcoin to support the circular economy. 320 00:23:47,743 --> 00:23:51,783 Yeah, BISC, B-I-S-C-U, peer-to-peer Bitcoin trading. 321 00:23:52,203 --> 00:23:54,043 Like Bitcoin was meant to be traded. 322 00:23:54,223 --> 00:23:55,303 I think that is really awesome. 323 00:23:55,303 --> 00:23:59,043 I have dabbled with the bisque, but have not spent much time with it. 324 00:23:59,083 --> 00:24:04,683 I know there's other versions of a 2-fluent, so I'd be curious why version 1 over the others, but I really appreciate that boost. 325 00:24:05,443 --> 00:24:07,963 ChewToy is here with a row of McDucks. 326 00:24:08,203 --> 00:24:10,703 That's 22,222 Satoshis. 327 00:24:10,783 --> 00:24:12,943 Things are looking up for old McDuck. 328 00:24:17,323 --> 00:24:18,583 Thanks for the panic. 329 00:24:19,063 --> 00:24:23,683 Waking up to a new Twib on a Tuesday made me think there was another wallet-draining hack out there. 330 00:24:23,683 --> 00:24:24,343 Oh, yeah. 331 00:24:24,803 --> 00:24:27,243 See, now I got to do it more often just to break you of that. 332 00:24:27,583 --> 00:24:28,603 Just to break, you know what I'm saying? 333 00:24:29,563 --> 00:24:30,923 That is, hmm. 334 00:24:31,363 --> 00:24:33,863 Although there's also the possibility that if you see an early twib, 335 00:24:34,183 --> 00:24:36,543 or if I've just done a twib and then you see another one, 336 00:24:37,103 --> 00:24:38,823 yeah, you probably do want to catch that. 337 00:24:39,523 --> 00:24:42,543 The emergency ones are even, if they're early and short, 338 00:24:42,843 --> 00:24:44,903 oh my God, then you know something's really gone down. 339 00:24:45,823 --> 00:24:46,603 Thanks, Chute Toy. 340 00:24:47,503 --> 00:24:48,903 Medullus, Maul Dusk. 341 00:24:48,943 --> 00:24:51,303 Ah, spelled it out for me because you know I'm kind of a dummy. 342 00:24:51,303 --> 00:24:56,143 also comes in with a row of McDucks, 22,222 satoshis. 343 00:24:56,143 --> 00:24:58,283 These are looking up for old McDuck. 344 00:24:58,423 --> 00:25:01,003 And since that's two in a row, I'm going to throw in an Aflac. 345 00:25:01,363 --> 00:25:01,843 Aflac! 346 00:25:02,223 --> 00:25:05,403 I don't know how long the Frontier Labs can keep their prestige. 347 00:25:05,563 --> 00:25:08,203 I know big tech companies are starting to experiment with Kimmy internally. 348 00:25:08,663 --> 00:25:11,843 What happens when the moat dries up and they're left with more hardware 349 00:25:11,843 --> 00:25:13,403 than they can use in a bill they can't pay? 350 00:25:13,623 --> 00:25:14,743 Hope you all enjoyed LinuxFest. 351 00:25:15,263 --> 00:25:18,663 You know, Madalas, I also feel like the open source models 352 00:25:18,663 --> 00:25:21,863 are the slowly growing elephant in the room. 353 00:25:22,543 --> 00:25:23,743 And I think the Frontier Labs 354 00:25:23,743 --> 00:25:25,943 suspect that they're just going to keep outpacing them, 355 00:25:25,983 --> 00:25:27,303 and I'm not so sure about that. 356 00:25:27,563 --> 00:25:29,263 And it would appear that Anthropic's strategy 357 00:25:29,263 --> 00:25:31,643 is to kind of create every SaaS that ever existed. 358 00:25:31,723 --> 00:25:32,283 I don't know if you just saw 359 00:25:32,283 --> 00:25:35,023 they launched like a Google Docs competitor this week. 360 00:25:35,623 --> 00:25:36,343 Pretty nuts. 361 00:25:37,063 --> 00:25:39,163 It doesn't seem sustainable to me. 362 00:25:39,883 --> 00:25:41,503 But they're going to go for that IPO, right? 363 00:25:41,623 --> 00:25:42,643 Keeping an eye on that too. 364 00:25:43,363 --> 00:25:44,563 Thank you, Paul. Appreciate you. 365 00:25:44,923 --> 00:25:47,183 OB's here with 21,000 sats. 366 00:25:48,663 --> 00:25:57,655 No message just value Thank you OB And Pi Pi Killer Pi Hiker probably not Here with 21 cents 367 00:26:00,075 --> 00:26:01,915 I hate building PCs. 368 00:26:02,715 --> 00:26:03,655 Okay, Pi Hiker. 369 00:26:04,055 --> 00:26:05,115 Hey, Chris, love the show. 370 00:26:05,235 --> 00:26:10,115 I'm building the ARK Pool, a Tor-only Bitcoin mining pool with open source self-hosted gateway. 371 00:26:10,475 --> 00:26:13,495 Thanks to ARK, miners get hourly payouts as low as one sat. 372 00:26:13,855 --> 00:26:15,835 No KYC and privacy first. 373 00:26:15,835 --> 00:26:20,995 payments are powered by Bark from Second HQ. So there's a lot in here I need to look into, 374 00:26:21,115 --> 00:26:27,675 clearly. ARK being one of them. And yeah, wow. Okay. This looks great. I have more to talk about 375 00:26:27,675 --> 00:26:32,515 this because right next to me, I have my air purifier that mines Bitcoin. So I want to talk 376 00:26:32,515 --> 00:26:37,395 about that today. It's right here. It's right next to me. Mine's Bitcoin. So maybe I should 377 00:26:37,395 --> 00:26:43,255 plug it into that. Thanks, Pi. Appreciate that. Mac Yallers is here with 20,000 sats. Boost! 378 00:26:43,255 --> 00:26:45,035 absolutely compelled 379 00:26:45,035 --> 00:26:46,235 into boosting 380 00:26:46,235 --> 00:26:46,895 because the value 381 00:26:46,895 --> 00:26:47,815 was so incredibly apparent. 382 00:26:48,055 --> 00:26:49,035 Love the early episode. 383 00:26:49,155 --> 00:26:50,275 Well, thank you, Mac. 384 00:26:50,755 --> 00:26:51,275 Thank you. 385 00:26:51,335 --> 00:26:51,935 You know, it was 386 00:26:51,935 --> 00:26:52,555 kind of stressful 387 00:26:52,555 --> 00:26:53,535 to squeeze it in, 388 00:26:53,795 --> 00:26:54,735 but I felt like 389 00:26:54,735 --> 00:26:55,555 you guys deserved it. 390 00:26:55,715 --> 00:26:56,175 Felt like there was 391 00:26:56,175 --> 00:26:56,995 enough to talk about too, 392 00:26:57,255 --> 00:26:58,435 and I'm glad you appreciated that. 393 00:26:58,875 --> 00:26:59,335 Thanks for sending it 394 00:26:59,335 --> 00:26:59,815 back my way. 395 00:27:00,615 --> 00:27:02,535 JPEG's here with 6,000 sats. 396 00:27:02,895 --> 00:27:03,135 Hmm. 397 00:27:03,475 --> 00:27:04,295 That Golden Dragon! 398 00:27:04,615 --> 00:27:04,935 I'm going to call 399 00:27:04,935 --> 00:27:05,595 the Golden Dragon boost. 400 00:27:05,635 --> 00:27:05,875 Why not? 401 00:27:05,895 --> 00:27:06,575 I miss you, Golden Dragon. 402 00:27:07,055 --> 00:27:08,315 He says no message, though. 403 00:27:08,375 --> 00:27:08,955 He says nothing. 404 00:27:09,115 --> 00:27:10,215 Well, this is the way. 405 00:27:10,315 --> 00:27:10,935 Value's important. 406 00:27:11,115 --> 00:27:11,675 Thank you, JPEG. 407 00:27:11,955 --> 00:27:12,475 Appreciate you. 408 00:27:13,195 --> 00:27:16,155 Gene Bean's here with 4,444 Satoshis. 409 00:27:16,355 --> 00:27:16,555 Hmm. 410 00:27:18,175 --> 00:27:19,375 Oh, drugs everywhere. 411 00:27:20,095 --> 00:27:21,995 Speaking of liquid, they're back to one-to-one. 412 00:27:22,115 --> 00:27:24,115 Yes, yes, they're actually one-to-one. 413 00:27:24,215 --> 00:27:25,195 It's good to see, isn't it? 414 00:27:25,915 --> 00:27:27,955 Conspiracies aside, I don't get why we should believe 415 00:27:27,955 --> 00:27:30,215 that North Korea's elite hackers went for so much 416 00:27:30,215 --> 00:27:31,355 that could be frozen so quickly. 417 00:27:32,015 --> 00:27:33,115 I did find it interesting, though, 418 00:27:33,115 --> 00:27:35,315 that one of your clips said that they tried to convert it to ETH. 419 00:27:35,575 --> 00:27:36,595 Didn't see that coming. 420 00:27:36,775 --> 00:27:38,095 Yeah, well, you know, ultrasound money. 421 00:27:38,095 --> 00:27:45,335 I don't have any stories about it this week either Gene but ETH is doing a narrative pivot again 422 00:27:45,335 --> 00:27:50,155 Vitalik had a big old ex post talking about how they need to pivot to this idea of a store of value 423 00:27:50,155 --> 00:27:54,975 and that the whole you know burning token thing and you know making the fees that ain't really 424 00:27:54,975 --> 00:28:02,135 working they want to become a store of value well why not just get bitcoin then oh man it's a mess 425 00:28:02,135 --> 00:28:07,775 over there thanks Gene I appreciate you giving me an excuse to give the ETH people a hard time 426 00:28:07,775 --> 00:28:09,475 You know I got to do it from time to time. 427 00:28:09,835 --> 00:28:13,875 We got a Spaceballs boost here from Drekker coming in with 12,000. 428 00:28:14,115 --> 00:28:14,755 I know how to count. 429 00:28:15,575 --> 00:28:16,535 345 Satoshis. 430 00:28:16,635 --> 00:28:17,375 You see, that's... 431 00:28:17,375 --> 00:28:21,455 So the combination is 1, 2, 3, 4, 5. 432 00:28:21,615 --> 00:28:21,995 Ah, good. 433 00:28:22,075 --> 00:28:23,815 Encrypting with their private key. 434 00:28:24,095 --> 00:28:24,415 Four. 435 00:28:24,995 --> 00:28:28,095 I've started investing security-hardening backup network for my family 436 00:28:28,095 --> 00:28:30,635 in the event of a present cyber apocalypse gets worse. 437 00:28:30,635 --> 00:28:34,595 The base layer is a refurbished ThinkPad X230 with heads 438 00:28:34,595 --> 00:28:37,895 and a de-bobbled Wi-Fi nick. 439 00:28:38,035 --> 00:28:39,995 So you can de-blobify it, I think. 440 00:28:40,615 --> 00:28:42,895 What Wi-Fi nick can you remove the blobs on? 441 00:28:43,335 --> 00:28:44,915 I'd love to know about that, Rick. 442 00:28:45,295 --> 00:28:46,715 That's new to me. 443 00:28:46,835 --> 00:28:47,735 Maybe I knew that and I forgot. 444 00:28:48,495 --> 00:28:50,375 I think this is not a bad way to think. 445 00:28:50,455 --> 00:28:52,175 I've been thinking a lot from first principles 446 00:28:52,175 --> 00:28:55,035 about network security and storage 447 00:28:55,035 --> 00:28:58,295 and company third-party risk too for that stuff. 448 00:28:58,915 --> 00:28:59,415 I like it. 449 00:28:59,695 --> 00:29:00,315 Let me know how it goes. 450 00:29:00,775 --> 00:29:04,035 Chance of Dizzy Spells is back with 8,000 Satoshis. 451 00:29:04,595 --> 00:29:06,275 Sending a little value for value. 452 00:29:06,435 --> 00:29:11,335 Your V is worth more than sats, but I just had to divert a few to repairing my boiler this month. 453 00:29:11,815 --> 00:29:14,055 Hope you and your family are well and warm. 454 00:29:14,555 --> 00:29:15,395 Thank you very much. 455 00:29:15,515 --> 00:29:17,415 Did you buy that from a certified vendor? 456 00:29:17,535 --> 00:29:18,355 I hope so. 457 00:29:18,655 --> 00:29:19,235 Thanks, Chance. 458 00:29:19,335 --> 00:29:20,075 Good to hear from you. 459 00:29:20,675 --> 00:29:23,215 BTC Neil is here with 2048 Satoshis. 460 00:29:25,115 --> 00:29:30,755 Over 50 INTJ individuals on the Faculty of Engineering, Math, and Physics, and Economics 461 00:29:30,755 --> 00:29:34,955 departments at Cal State LA are on their journey down the rabbit hole after receiving information 462 00:29:34,955 --> 00:29:38,995 about the Scientific Bitcoin Institute. Help them along by emailing them their addresses, 463 00:29:39,495 --> 00:29:45,435 by emailing them at their addresses on the CSULA website. I don't know what's going on there, 464 00:29:45,435 --> 00:29:50,035 but that sounds juicy. You're saying we need to just help them and encourage them? 465 00:29:50,655 --> 00:29:56,715 And that their email addresses are on the CSULA website? Huh. Math, physics, and economics 466 00:29:56,715 --> 00:30:01,235 economics departments. I like the economics. Thank you for the heads up. Appreciate that, 467 00:30:01,295 --> 00:30:08,255 Neela. All in and all, or A-L-I-N-A-H? Nope, that's not it. But I only have half a brain 468 00:30:08,255 --> 00:30:13,615 because I just got off an airplane and they happened to come in with 4,747 sats, which 469 00:30:13,615 --> 00:30:17,455 is really what got my attention. Well, I'll be dipped. Got a little distracted there. 470 00:30:17,535 --> 00:30:21,895 It's pretty funny. Next caller. All right. So what do you think about the Star Trek shows 471 00:30:21,895 --> 00:30:23,835 from the last few years post-Enterprise. 472 00:30:23,975 --> 00:30:25,195 Oh, I didn't see that coming. 473 00:30:26,395 --> 00:30:28,235 Well, I'm happy that some have enjoyed them. 474 00:30:28,335 --> 00:30:29,775 I have not been really one of them. 475 00:30:30,775 --> 00:30:31,455 I've tried. 476 00:30:31,615 --> 00:30:32,775 I've watched all of them, and I've tried. 477 00:30:33,155 --> 00:30:34,555 But while I find Strange New Worlds 478 00:30:34,555 --> 00:30:35,915 probably to be the best of the group, 479 00:30:36,355 --> 00:30:38,755 I still haven't really preferred any season in general. 480 00:30:39,015 --> 00:30:40,315 So I'll just leave it at that. 481 00:30:40,315 --> 00:30:42,675 I do like Star Trek quite a bit, though. 482 00:30:42,795 --> 00:30:44,075 So I'll watch all Star Trek. 483 00:30:44,715 --> 00:30:45,395 I admit that. 484 00:30:45,615 --> 00:30:46,755 So I'm not the best judge. 485 00:30:47,215 --> 00:30:49,075 Paranoid Coder comes in with a row of decks. 486 00:30:50,455 --> 00:30:51,415 And thank you for the boost. 487 00:30:51,675 --> 00:30:53,375 Just wanted to share my DCA setup. 488 00:30:53,455 --> 00:30:53,835 Ah, good. 489 00:30:54,435 --> 00:30:56,415 I have been using Coinbase for a while now 490 00:30:56,415 --> 00:30:58,435 because it works well with tax software like CoinTracker. 491 00:30:58,595 --> 00:31:01,215 I have auto buys set up on USDC each week, 492 00:31:01,215 --> 00:31:02,995 which earns interest in Bitcoin. 493 00:31:03,375 --> 00:31:05,635 And then I have my auto daily buys for Bitcoin 494 00:31:05,635 --> 00:31:07,795 that come from my USDC balance. 495 00:31:08,095 --> 00:31:10,015 I also have a Coinbase One membership, 496 00:31:10,215 --> 00:31:11,675 which covers the certain dollar amount 497 00:31:11,675 --> 00:31:13,355 to these fees each month, 498 00:31:13,895 --> 00:31:15,875 an increased APY on USDC as well, 499 00:31:15,975 --> 00:31:18,175 and some other benefits that will more than pay 500 00:31:18,175 --> 00:31:19,195 for the membership itself, 501 00:31:19,455 --> 00:31:21,135 and it results in zero fee DCAs. 502 00:31:21,415 --> 00:31:23,675 Well, that's very interesting, Paranoid. 503 00:31:24,655 --> 00:31:26,675 Zero-fee DCAs is a very nice feature. 504 00:31:27,515 --> 00:31:29,875 The complexity of Coinbase is what would concern me there. 505 00:31:29,915 --> 00:31:33,415 Not the security of it necessarily, just the complexity of that app. 506 00:31:33,695 --> 00:31:35,495 You're having to do that whole USDC thing. 507 00:31:35,595 --> 00:31:38,975 Now, if they're earning interest, I guess what I would wonder is like, well, couldn't 508 00:31:38,975 --> 00:31:43,675 you just do Strike, which could have no-fee DCAs, and then you just have cash sitting 509 00:31:43,675 --> 00:31:45,475 in their interest-bearing account? 510 00:31:45,655 --> 00:31:46,335 And that's kind of simpler? 511 00:31:47,215 --> 00:31:49,235 Or is it just process at this point that you've set up for a while? 512 00:31:49,235 --> 00:31:54,315 curious if you have any thoughts on that paranoid thank you very much hey ace ackerman's here with 513 00:31:54,315 --> 00:32:01,375 a row of ducks short term the ai trade downtrend is over long term the trend depends on regulation 514 00:32:01,375 --> 00:32:06,615 and the ability to retain profitable models i think ai integration will result in more job losses 515 00:32:06,615 --> 00:32:11,635 than new job gains but higher productivity that seems like a pretty rational take we should have 516 00:32:11,635 --> 00:32:19,215 aces takes that are just like super complex issue boom right there just like pow that's a 517 00:32:19,215 --> 00:32:20,195 That's just really distilled. 518 00:32:20,755 --> 00:32:22,175 I mean, you're probably right. 519 00:32:23,015 --> 00:32:25,375 Jury's out, in my opinion, on the job gains ultimately 520 00:32:25,375 --> 00:32:27,375 because you could see job loss. 521 00:32:27,455 --> 00:32:28,895 You could see no job impact. 522 00:32:29,255 --> 00:32:32,195 And you could see a tick up, big drop down over time, 523 00:32:32,195 --> 00:32:34,835 and then a tick back up as businesses expand 524 00:32:34,835 --> 00:32:36,235 and create new services and features. 525 00:32:36,495 --> 00:32:36,715 Don't know. 526 00:32:37,095 --> 00:32:37,455 We'll see. 527 00:32:38,135 --> 00:32:38,835 I like it, though, Ace. 528 00:32:38,855 --> 00:32:39,215 Thank you. 529 00:32:39,635 --> 00:32:42,775 Kronkidonk's here with 15,200 Satoshis. 530 00:32:47,075 --> 00:32:48,015 Oh, my God. 531 00:32:48,015 --> 00:32:49,455 This drawer is filled with fruit lobes. 532 00:32:49,535 --> 00:32:50,435 Kronk says, thank you for the value. 533 00:32:50,555 --> 00:32:51,575 Thank you for the value. 534 00:32:51,735 --> 00:32:52,715 I appreciate it. 535 00:32:53,155 --> 00:32:56,375 And Nakamoto 6102 is here with 5,000 Satushers. 536 00:32:56,475 --> 00:32:57,135 Tough little ship. 537 00:32:57,935 --> 00:32:58,275 Little. 538 00:32:58,895 --> 00:32:59,515 Appreciate the value. 539 00:32:59,595 --> 00:33:01,835 Hard to believe this bear market's only been a little over a year. 540 00:33:01,975 --> 00:33:03,255 Feels like it's been longer. 541 00:33:03,855 --> 00:33:05,335 Anyways, I'm still bullish. 542 00:33:05,675 --> 00:33:06,275 Yeah, buddy. 543 00:33:06,455 --> 00:33:08,455 You make me want to be a better man. 544 00:33:08,755 --> 00:33:12,155 Kiwi Bitcoin guides here with 4,567 sats. 545 00:33:12,235 --> 00:33:13,515 The traders love the vol. 546 00:33:13,615 --> 00:33:14,875 Hey, Chris, hope you're enjoying Texas. 547 00:33:14,875 --> 00:33:16,735 With Bolts out of action now, 548 00:33:16,735 --> 00:33:20,495 what are your recommendations for swaps specifically on chain to lightning i used 549 00:33:20,495 --> 00:33:25,135 bolts for years and i miss it now that it's gone thanks so i think your best options are going to 550 00:33:25,135 --> 00:33:30,415 be side swap io and maybe the block stream app i think they have theirs in there and then there's 551 00:33:30,415 --> 00:33:35,475 also aqua that has some swapping in there but if anybody else has some tips on that i'd appreciate 552 00:33:35,475 --> 00:33:40,715 it but that would be my quick off the top of my head good luck kiwi keep me posted on how it goes 553 00:33:41,135 --> 00:33:44,155 Now we switch to Fiat Boost, and J-Cube comes in with $60. 554 00:33:45,135 --> 00:33:45,795 All right. 555 00:33:45,895 --> 00:33:46,855 Let's hear it good, buddy. 556 00:33:46,995 --> 00:33:48,515 To clarify, oh, good, here we go. 557 00:33:48,635 --> 00:33:49,655 This is about his Gemini card. 558 00:33:49,915 --> 00:33:52,735 I pay my Gemini balance off each time I get paid. 559 00:33:52,815 --> 00:33:56,635 I put everything on the Gemini card, with the exception of what we get from Amazon, 560 00:33:57,075 --> 00:33:58,595 which uses the Chase Amazon card. 561 00:33:58,595 --> 00:34:02,775 I keep cash balance in my savings at River, and my normal bank, 562 00:34:02,875 --> 00:34:05,115 my DCA, comes from my normal bank draft. 563 00:34:05,975 --> 00:34:07,055 Tight setup, J-Cube. 564 00:34:07,115 --> 00:34:09,935 That's maybe my ideal setup, I'm thinking. 565 00:34:10,715 --> 00:34:12,555 I'm really liking that, J-Cube. 566 00:34:12,975 --> 00:34:15,715 Did it take you a while to get it all organized? 567 00:34:16,475 --> 00:34:17,835 And then what are you doing for, 568 00:34:18,055 --> 00:34:19,895 I guess you must be doing some bill pay 569 00:34:19,895 --> 00:34:21,075 from your regular bank account 570 00:34:21,075 --> 00:34:23,455 because some stuff requires ACH, 571 00:34:23,595 --> 00:34:25,655 like mortgage or some payments, right? 572 00:34:26,155 --> 00:34:27,595 So you must also be doing bill pay 573 00:34:27,595 --> 00:34:28,655 from your regular bank account. 574 00:34:28,955 --> 00:34:30,135 But see, that's where it gets a little, 575 00:34:30,152 --> 00:34:32,172 for me. A little less tidy, but 576 00:34:32,172 --> 00:34:34,152 still pretty tidy. I'd like to know how that 577 00:34:34,152 --> 00:34:36,192 works for you. Thank you, everybody, who 578 00:34:36,192 --> 00:34:38,172 boosted in. We didn't get any member boost this week, 579 00:34:38,212 --> 00:34:40,092 but remember, if you're a Jupiter Party member, you do get 580 00:34:40,092 --> 00:34:41,652 a free member boost each episode. 581 00:34:42,032 --> 00:34:44,092 So let's total it all up. We had 582 00:34:44,092 --> 00:34:45,952 23 of you 583 00:34:45,952 --> 00:34:48,152 stream sats. Collectively, you stacked 584 00:34:48,152 --> 00:34:50,452 24,009 satoshis. 585 00:34:50,852 --> 00:34:52,212 Because I'm the win! 586 00:34:52,472 --> 00:34:54,072 Thank you, everybody. I like that very much. 587 00:34:54,132 --> 00:34:56,012 Now, you know this is going to be a banger because we had 588 00:34:56,012 --> 00:34:57,952 some nice baller boosts, including 589 00:34:57,952 --> 00:34:59,672 the podfather there at the very top of the list. 590 00:34:59,672 --> 00:35:08,372 So this week's episode, right back, fresh from Texas, still a little barbecue in the beard, comes in 800 and 8,044 Satoshis. 591 00:35:09,092 --> 00:35:11,652 That, that feels like value. 592 00:35:11,792 --> 00:35:12,912 Thank you, everybody. 593 00:35:14,612 --> 00:35:18,732 Stepped off the plane, got in the studio, did the show for you. 594 00:35:19,032 --> 00:35:20,652 And man, what a week it is. 595 00:35:20,852 --> 00:35:22,332 There's so much that's going to be developing. 596 00:35:23,232 --> 00:35:24,292 So much more. 597 00:35:24,652 --> 00:35:27,132 Just this week is going to fork so many sub stories. 598 00:35:27,512 --> 00:35:28,672 I appreciate your support. 599 00:35:28,672 --> 00:35:30,332 Thank you for being here for it. 600 00:35:30,912 --> 00:35:33,672 You can support the show at boost.jupiterbroadcasting.com 601 00:35:34,212 --> 00:35:36,292 or become a member at jupiter.party. 602 00:35:36,412 --> 00:35:38,992 That's boost.jupiterbroadcasting.com. 603 00:35:39,092 --> 00:35:39,832 You can support the show. 604 00:35:39,932 --> 00:35:41,072 And thank you, everyone who did. 605 00:35:41,512 --> 00:35:43,752 A little freedom eagle for you for keeping this thing going. 606 00:35:48,512 --> 00:35:55,132 All right, so I got a few things I want to talk about before we get to the heat bit here. 607 00:35:55,872 --> 00:35:58,012 First up, I've been saying this for a little bit, 608 00:35:58,012 --> 00:36:00,052 but I think it's funny to hear it come from CZ. 609 00:36:00,172 --> 00:36:01,072 We'll play a bit of this. 610 00:36:01,392 --> 00:36:04,032 He shrugged off the recent Binance hack by saying, 611 00:36:04,552 --> 00:36:06,252 yeah, I mean, we've got our problems, 612 00:36:06,252 --> 00:36:08,832 but the banks are going to be so much worse. 613 00:36:09,412 --> 00:36:13,012 I think number one, this is like a real wake-up call 614 00:36:13,012 --> 00:36:16,912 for not just crypto, but for the financial system overall. 615 00:36:17,992 --> 00:36:20,852 If a crypto exchange can be hacked, 616 00:36:21,132 --> 00:36:23,392 banks are in a worse position, in my opinion. 617 00:36:23,812 --> 00:36:27,432 Binance, crypto industry are probably the first tier of hacking targets. 618 00:36:28,012 --> 00:36:32,372 especially Binance being the largest exchange with the largest amount of crypto, etc. 619 00:36:32,552 --> 00:36:34,492 So we're always going to be attacked first. 620 00:36:35,192 --> 00:36:39,112 But attacking us have very high rewards, whereas attacking banks, 621 00:36:39,212 --> 00:36:42,292 sometimes they can change lasers and they can get away with some stuff. 622 00:36:42,952 --> 00:36:46,952 But the rewards are not the same as crypto, so we get attacked first. 623 00:36:47,112 --> 00:36:54,212 But the banks are not safe from the security attack ability increases with AI. 624 00:36:54,212 --> 00:36:59,592 So it actually kind of, in some sense, it actually kind of merges the two industries together. 625 00:36:59,592 --> 00:37:21,712 I actually would say the banks are probably worse off than most know, only based on my very outdated experience of working seven years in banking in the IT department and then kind of graduating for a couple of years into offensive security and working in security groups amongst local banks and some national branches and banks. 626 00:37:21,712 --> 00:37:29,492 and the state of security was poor, mostly because they rely on very old technology and 627 00:37:29,492 --> 00:37:34,852 very old operating systems and very old applications. And going forward in the age of AI 628 00:37:34,852 --> 00:37:41,852 assisted attacks, a system that uses out of date software should be just looked at as a system that 629 00:37:41,852 --> 00:37:47,372 has root access available. Because these clankers are so good at stacking these different 630 00:37:47,372 --> 00:37:54,172 vulnerabilities and tool calls, I have used some of these Chinese models to pop my own systems 631 00:37:54,172 --> 00:38:02,112 just for testing. And it really, what I took away from that is if there's outdated software on the 632 00:38:02,112 --> 00:38:07,612 box, it's essentially a sitting duck. And you have to think of it that way. And so banks are just 633 00:38:07,612 --> 00:38:13,752 really bad at rapid change and rapid patching and improvements. So I think they're going to be, 634 00:38:13,752 --> 00:38:16,672 at least from my private personal experience, I think they're going to be screwed. 635 00:38:17,372 --> 00:38:23,752 But we'll see. Now, this next clip isn't a banger, but it is a bit of a thought technology that I'll share with you. 636 00:38:24,452 --> 00:38:34,892 You know, I think maybe this is also useful when you're trying to talk to people about Bitcoin, because a lot of us hope one day Bitcoin could become a reserve, the reserve currency of the world. 637 00:38:35,172 --> 00:38:40,232 Not guaranteed, though. So how do you like talk about that with somebody like, yeah, here's this great store of value. 638 00:38:40,232 --> 00:38:44,852 It's kind of like alternative outside the system. Doesn't have a CEO that can get catfished. 639 00:38:44,852 --> 00:38:47,732 And maybe one day, you know, it's going to be the reserve currency. 640 00:38:47,732 --> 00:38:49,932 I guess there's got to be a better way to say that, right? 641 00:38:49,932 --> 00:38:52,232 Well, this will help you do just that. 642 00:38:52,232 --> 00:39:11,648 But my general view about Bitcoin is it currently a in an alternative store value right But with an option with a call option to become the global reserve currency right It somewhat of an embedded 643 00:39:11,648 --> 00:39:18,668 call option. And so a call option, it can rise in two ways, or I mean, in more ways, right? 644 00:39:18,668 --> 00:39:40,988 But mainly two ways. So either you get closer to that strike, right? Like there's more adoption, right? It becomes more likely that it will actually become the reserve currency. Or like the volatility of and the uncertainty around any kind of reserve currency increases, right? That can also increase the value of the call option. 645 00:39:40,988 --> 00:39:45,428 Yeah, it's a call option on Bitcoin. It might become the reserve currency one day. It could happen. 646 00:39:45,988 --> 00:39:51,688 Okay, one other story that we need to talk about really briefly here, and it's an important one if you run a Lightning server with LNBits. 647 00:39:52,128 --> 00:40:00,368 There is an urgent security update. LNBits releases version 1.70 after some November 8th attacks drained wallets. 648 00:40:00,888 --> 00:40:07,488 On November 8th, LNBits reported on X that users should stop their LNBits servers immediately after reporting an active attack, 649 00:40:07,488 --> 00:40:09,488 adding that security patches were being prepared 650 00:40:09,488 --> 00:40:11,508 and that it was better to err on the side of caution 651 00:40:11,508 --> 00:40:13,628 and just shut your LNBIT server down. 652 00:40:14,208 --> 00:40:15,788 Hi. Yeah, that was us. 653 00:40:16,408 --> 00:40:18,848 So LNBITs is a bit of background infrastructure 654 00:40:18,848 --> 00:40:21,968 and we use it to drive the WebBoost page. 655 00:40:22,888 --> 00:40:23,328 Yes. 656 00:40:23,868 --> 00:40:27,508 So while I was in Texas, we were scrambling. 657 00:40:27,628 --> 00:40:29,808 We did actually, for a brief period of time, 658 00:40:29,908 --> 00:40:30,948 take the WebBoost down. 659 00:40:31,768 --> 00:40:34,008 Kevin, one of the operators of the Telegram tipping service, 660 00:40:34,088 --> 00:40:36,488 BitTipBit, publicly stated that attackers 661 00:40:36,488 --> 00:40:46,428 created new accounts on his instance and withdrew 2,285, oh, I'm sorry, geez, 2,285,545 Satoshis, 662 00:40:46,908 --> 00:40:54,968 approximately 0.0229 Bitcoin, roughly between 9 a.m. and 1,400 UTC on November 8th. According 663 00:40:54,968 --> 00:40:59,648 to the official upgrade guidance published by LNBits with the release notes, prior versions 664 00:40:59,648 --> 00:41:06,248 to 1.70 are affected and funds running on prior versions of LNBits are at risk of being 665 00:41:06,248 --> 00:41:11,468 stolen. The project stated that version 1.7 includes security fixes in response to the 666 00:41:11,468 --> 00:41:15,648 incident discovered on November 8th, and a full technical report on the exploit will follow. 667 00:41:16,248 --> 00:41:23,968 Yeah, that was a fun one. That was a fun one. So be sure if you have a Bitcoin node that might be 668 00:41:23,968 --> 00:41:27,508 deploying this for you, like an Umbral or Start9 that just deployed this as a support package, 669 00:41:28,168 --> 00:41:32,608 that you get updated. There was also a recent kernel update for Linux that affects LND, 670 00:41:32,608 --> 00:41:34,528 and you need an update for that too. 671 00:41:34,768 --> 00:41:37,588 We also got some numbers this week from BlackRock. 672 00:41:37,688 --> 00:41:40,568 Everybody's been talking about people exchanging their Bitcoin 673 00:41:40,568 --> 00:41:43,708 for the BlackRock iBit ETF. 674 00:41:43,988 --> 00:41:48,208 Well, we now know that $3.6 billion in Bitcoin 675 00:41:48,208 --> 00:41:50,628 have been swapped to the ETF. 676 00:41:51,288 --> 00:41:54,148 iBit has drawn a record $3.6 billion in Bitcoin custody swaps 677 00:41:54,148 --> 00:41:55,828 since July of 2025. 678 00:41:56,688 --> 00:41:59,048 And they say this is a self-custody fear as a grow. 679 00:41:59,248 --> 00:42:00,648 I imagine there's lots of reasons behind it, 680 00:42:00,648 --> 00:42:02,768 including being able to lend in options like that. 681 00:42:03,048 --> 00:42:05,008 This came from Robbie Mitnick. 682 00:42:05,288 --> 00:42:06,128 I think is how you say his name. 683 00:42:06,248 --> 00:42:08,188 We've played his clips on the show before. 684 00:42:08,488 --> 00:42:09,948 He's their head of digital assets. 685 00:42:10,208 --> 00:42:13,128 He disclosed this on November 9th. 686 00:42:13,148 --> 00:42:15,668 This is the first time we've ever gotten numbers on this. 687 00:42:16,028 --> 00:42:18,508 $3.6 billion in US value of Bitcoins, 688 00:42:18,568 --> 00:42:19,408 you could have to do the math, 689 00:42:20,168 --> 00:42:23,508 have swapped from Bitcoin over to the ETFs. 690 00:42:23,828 --> 00:42:25,908 Now, this doesn't create new market buy demand 691 00:42:25,908 --> 00:42:26,588 when this happens. 692 00:42:26,588 --> 00:42:27,308 So you're not going to see, 693 00:42:27,388 --> 00:42:28,428 this isn't going to make the price go up. 694 00:42:28,428 --> 00:42:33,048 In fact, it would often look like selling if you're just looking at on-chain. 695 00:42:33,388 --> 00:42:34,808 It would look like selling, I suppose. 696 00:42:35,348 --> 00:42:37,728 But that is a pretty substantial number, $3.6 billion. 697 00:42:37,828 --> 00:42:39,048 Is it higher than I expected? 698 00:42:40,008 --> 00:42:40,748 Yeah, a little bit. 699 00:42:41,328 --> 00:42:42,888 Yeah, it is a little bit higher than I expected, actually. 700 00:42:43,568 --> 00:42:46,388 I think it's a little bit higher than I expected, just because there's a million-dollar minimum. 701 00:42:47,408 --> 00:42:48,168 That's a lot. 702 00:42:48,528 --> 00:42:49,288 All right, so there you go. 703 00:42:49,648 --> 00:42:51,248 Let's talk about the HeatBit. 704 00:42:51,248 --> 00:42:54,948 This is HeatBit's BitAir, and it's an air purifier. 705 00:42:54,948 --> 00:42:59,508 and it has a compact HEPA filter built into it 706 00:42:59,508 --> 00:43:01,868 with a tiny little ASIC miner. 707 00:43:02,068 --> 00:43:04,668 It is about 1.2 tera hashes. 708 00:43:04,788 --> 00:43:07,168 It's a shock 256 ASIC in there, as you would expect. 709 00:43:07,568 --> 00:43:09,908 And it draws about 25 watts of power, 710 00:43:09,988 --> 00:43:11,468 depending on operating conditions. 711 00:43:11,808 --> 00:43:14,348 So you can get a sense that it's not crazy, crazy powerful. 712 00:43:14,508 --> 00:43:16,308 It's more of like, you know, one of these home, 713 00:43:16,648 --> 00:43:18,608 kind of like lottery miners, you could almost call it. 714 00:43:18,608 --> 00:43:20,468 You can turn it and pull it apart. 715 00:43:20,748 --> 00:43:33,303 And when you open it up you can actually see the Bitcoin miner on the inside which is kind of fun And then there is a serviceable air filter on the canister on the bottom So you can pull out the air filter in there 716 00:43:33,303 --> 00:43:34,643 and you can change it out. 717 00:43:34,763 --> 00:43:36,903 So the idea is, is if you're gonna run an air filter 718 00:43:36,903 --> 00:43:38,483 and it's only pulling about 25 Watts, 719 00:43:38,803 --> 00:43:40,863 why not have a Bitcoin miner going in there 720 00:43:40,863 --> 00:43:43,203 and take your chances, if you will. 721 00:43:43,203 --> 00:43:45,283 I've always felt like this is such a great way 722 00:43:45,283 --> 00:43:46,603 to decentralize the network. 723 00:43:46,783 --> 00:43:48,243 If we're gonna have devices 724 00:43:48,243 --> 00:43:50,443 that are essentially just power vampires 725 00:43:50,443 --> 00:43:54,703 running all the time and it's powered off a little 15 volt type C USB plug. 726 00:43:54,983 --> 00:43:56,603 Why not have them mining Bitcoin? 727 00:43:57,283 --> 00:43:59,923 They also sell some heating products, so they're all sold out right now. 728 00:44:00,363 --> 00:44:04,843 So, you know, I don't know what kind of results to see because I literally have just been 729 00:44:04,843 --> 00:44:08,383 unboxing this, but I did do some research for you and a few things I think you'll find 730 00:44:08,383 --> 00:44:08,763 interesting. 731 00:44:09,343 --> 00:44:12,303 The noise is reportedly between 25 to 44 decibels. 732 00:44:12,423 --> 00:44:13,583 I'll do some testing on this. 733 00:44:14,083 --> 00:44:18,163 And it does claim to have some accurately decent HEPA filtering in here. 734 00:44:18,163 --> 00:44:28,143 And the thing that I noticed that I think you would find maybe notable from a technical standpoint is that it is 2.4 only for Wi-Fi. 735 00:44:28,743 --> 00:44:35,203 It's also, it's got an interesting mining setup, but I'm going to dig more into this and I'd love your questions if you have any. 736 00:44:35,623 --> 00:44:37,543 But you have multiple options. 737 00:44:37,763 --> 00:44:42,743 You have what they call solo pool mining and then pool mining. 738 00:44:43,263 --> 00:44:47,343 So solo by default runs through HeatBit's solo mining pool. 739 00:44:48,163 --> 00:44:52,043 which is not really solo mining as I traditionally know of it, 740 00:44:52,543 --> 00:44:55,303 but it seems that you keep all of the rewards. 741 00:44:55,703 --> 00:44:57,743 So your bit area, if it finds a valid block, 742 00:44:57,983 --> 00:45:00,223 you are entitled to the entire reward 743 00:45:00,223 --> 00:45:02,783 rather than splitting it with the other pool members. 744 00:45:02,983 --> 00:45:05,183 So you don't share earnings, I guess, 745 00:45:05,223 --> 00:45:07,023 but you're still participating in a pool. 746 00:45:07,363 --> 00:45:08,643 I'm going to be playing around more with that. 747 00:45:08,643 --> 00:45:12,623 It looks like you can also point it at your own Bitcoin mining pool if you like, 748 00:45:12,943 --> 00:45:14,563 and you can switch providers and all of that. 749 00:45:15,283 --> 00:45:15,983 So that's kind of nice. 750 00:45:16,043 --> 00:45:17,303 And of course, you just point it at a wallet, 751 00:45:17,303 --> 00:45:19,623 and as it gets many kind of rewards, 752 00:45:19,703 --> 00:45:21,063 you can just send it to that wallet. 753 00:45:21,283 --> 00:45:23,623 And everything right here is openable and serviceable, 754 00:45:23,803 --> 00:45:26,003 so pretty easy if anything goes wrong 755 00:45:26,003 --> 00:45:28,443 to kind of open it up and take a look and see what happened. 756 00:45:28,863 --> 00:45:30,843 And really the design is very clever, right? 757 00:45:30,883 --> 00:45:32,803 Because the miner is sitting directly in the airflow 758 00:45:32,803 --> 00:45:34,523 of the air purifier, 759 00:45:34,943 --> 00:45:37,163 so it's going to probably cool quite well. 760 00:45:37,403 --> 00:45:38,943 It's got a nice little handle on it, 761 00:45:39,123 --> 00:45:42,543 and I'd say if you're looking at size, 762 00:45:42,823 --> 00:45:44,223 it's easy to hold in the hand. 763 00:45:44,223 --> 00:45:47,043 It's like a very, very small basket, perhaps. 764 00:45:47,303 --> 00:45:51,563 It would fit on your desk if you want or in the corner of your room quite easily. 765 00:45:52,123 --> 00:45:54,543 Controls are along the top where the air will output. 766 00:45:55,143 --> 00:45:57,163 And there are some touch controls along there. 767 00:45:57,363 --> 00:46:02,043 Otherwise, it's got a nice white, clean design with the base and the top that are separatable. 768 00:46:03,163 --> 00:46:03,563 Separatable. 769 00:46:03,943 --> 00:46:06,203 And you could see something like this around the house. 770 00:46:06,303 --> 00:46:09,163 Now, this, it's $180 right now. 771 00:46:09,163 --> 00:46:16,043 in my opinion, a little high for an air purifier, but not that bad for something that also mines 772 00:46:16,043 --> 00:46:22,043 Bitcoin and cleans your air. And you never know, could have a little fun. I just like the idea of, 773 00:46:22,103 --> 00:46:26,843 you know, my tiny little contribution to the network there. And I would be even more interested, 774 00:46:26,963 --> 00:46:31,643 I think, in a bigger heater that has something like a 1500 watt energy capacity where you're 775 00:46:31,643 --> 00:46:35,163 going to get some actual mining capacity. I'll actually have to look at what this thing's 776 00:46:35,163 --> 00:46:38,963 cranking out compute wise because it's not really clear to me what those numbers are. 777 00:46:39,363 --> 00:46:42,863 But I think I'm going to run it here in the studio for a bit. I'm going to run one at home as well 778 00:46:42,863 --> 00:46:47,003 because I picked up two around $180. I think they'll eventually be 779 00:46:47,003 --> 00:46:51,103 $250 perhaps as it gets closer. So I'll put links to this 780 00:46:51,103 --> 00:46:54,983 if you are curious about any of this. At 25 watts, 781 00:46:55,003 --> 00:46:59,043 it's not going to cost you a lot to run it electricity wise. So the real investment is 782 00:46:59,043 --> 00:47:02,803 that initial purchase there. And is it decentralizing the network? 783 00:47:02,803 --> 00:47:03,703 Well, you tell me. 784 00:47:04,063 --> 00:47:06,703 I think it's better than not having one of these, right? 785 00:47:06,763 --> 00:47:08,863 And if I was going to have a little bit of fun 786 00:47:08,863 --> 00:47:11,463 and get myself one of those small, little, tiny home miners, 787 00:47:11,923 --> 00:47:14,863 why not do something like this that is actually kind of clean 788 00:47:14,863 --> 00:47:16,683 and easy to put in the corner somewhere 789 00:47:16,683 --> 00:47:17,763 and kind of fits in with the decor? 790 00:47:18,383 --> 00:47:19,043 So there you go. 791 00:47:19,163 --> 00:47:20,663 That is the BitAir from HeatBit. 792 00:47:20,723 --> 00:47:21,343 It's not a heater. 793 00:47:21,463 --> 00:47:22,863 It's an air purifier. 794 00:47:23,563 --> 00:47:26,463 And they have a bunch of details, including hands-on guides, 795 00:47:26,543 --> 00:47:27,083 how to set it up. 796 00:47:27,123 --> 00:47:29,083 I'll link to all of that in the show notes. 797 00:47:29,463 --> 00:47:30,423 So you tell me what you think. 798 00:47:30,423 --> 00:47:31,183 And if you have any questions, 799 00:47:31,183 --> 00:47:32,863 since I'll be trying it out over the next week. 800 00:47:33,363 --> 00:47:35,383 You can go to boost.jupiterbroadcasting.com. 801 00:47:35,463 --> 00:47:36,583 And I'm, first of all, 802 00:47:37,223 --> 00:47:39,383 I'm very impressed with how light and easy it is to fit. 803 00:47:39,843 --> 00:47:41,203 I mean, they've really built something that is, 804 00:47:41,603 --> 00:47:44,203 I think the community will dismiss it to some degree 805 00:47:44,203 --> 00:47:46,943 because of its obviousness and its simplicity. 806 00:47:47,583 --> 00:48:00,079 But I would argue that that obviousness and that simplicity is actually what makes it so great They figured out that last 10 you know what I mean And they put it into a nice little package 807 00:48:00,079 --> 00:48:02,859 that you can put in your home and not feel like a huge nerd. 808 00:48:03,499 --> 00:48:04,199 That's a win. 809 00:48:04,199 --> 00:48:23,319 let's check in on that state of the network looking at it right now it's kind of been 810 00:48:23,319 --> 00:48:29,439 well it's been ticking up a little bit we are up 1.4 percent in the last 24 hours so it's taking up 811 00:48:29,439 --> 00:48:38,119 a little bit. All right, I'm wrapping up at block height 975,471. Our current Bitcoin to USD price 812 00:48:38,119 --> 00:48:48,359 is 74,400. That puts our sats per dollar at 1,344 sats to one US dollar. We are down 41% 813 00:48:48,359 --> 00:48:59,419 from our all-time high, which was an unbelievable, incredible 401 days ago, you maniac monster, 814 00:48:59,439 --> 00:49:03,099 Sir, you truly are a cyber hornet psychopath. 815 00:49:04,079 --> 00:49:07,319 Our retarget date for the Bitcoin network is October 6th. 816 00:49:07,319 --> 00:49:08,919 No, nope, nope, sorry. 817 00:49:08,999 --> 00:49:09,959 November 13th. 818 00:49:09,959 --> 00:49:10,399 There it is. 819 00:49:10,659 --> 00:49:11,799 Just a couple of days away. 820 00:49:12,299 --> 00:49:16,059 With an estimated difficulty downwards adjustment of 7.1%. 821 00:49:16,059 --> 00:49:18,919 Now that's a big downward, but we'd had a big upward recently. 822 00:49:19,379 --> 00:49:23,359 There are now a few more nodes on the network clocking 20,302 nodes. 823 00:49:23,779 --> 00:49:28,039 We are down 7.3% since last week. 824 00:49:28,039 --> 00:49:31,439 and our 30-day downward is 10.5%. 825 00:49:31,439 --> 00:49:33,899 There are 273 blocks 826 00:49:33,899 --> 00:49:35,679 until we get to that difficulty readjustment 827 00:49:35,679 --> 00:49:37,239 and fees are up just a touch. 828 00:49:37,599 --> 00:49:40,039 2.32 saps per vbyte. 829 00:49:40,619 --> 00:49:41,339 Not too bad though. 830 00:49:41,539 --> 00:49:42,159 Not too bad at all. 831 00:49:42,799 --> 00:49:44,099 The network continues to adjust, 832 00:49:44,439 --> 00:49:46,699 adapt and remains very strong. 833 00:49:51,559 --> 00:49:53,059 Well, that's it for me. 834 00:49:53,519 --> 00:49:55,059 Lots of links in the show notes this week. 835 00:49:55,059 --> 00:49:56,079 Things to go check out. 836 00:49:56,199 --> 00:49:57,939 That's over at thisweekinbitcoin.show. 837 00:49:58,039 --> 00:50:00,119 other great shows for you to listen to as well. 838 00:50:00,459 --> 00:50:01,579 I want to know what you think. 839 00:50:02,019 --> 00:50:04,039 Are we up or are we down from here? 840 00:50:04,319 --> 00:50:05,479 This is a critical moment. 841 00:50:05,879 --> 00:50:10,059 This is the stress test where it could break either way. 842 00:50:10,159 --> 00:50:11,699 And there's so much uncertainty. 843 00:50:11,899 --> 00:50:14,519 I really think this is the week many things are going to fork out. 844 00:50:15,039 --> 00:50:19,179 Whatever the results of this test are, it'll be just the beginning. 845 00:50:19,679 --> 00:50:20,579 So keep it going. 846 00:50:20,659 --> 00:50:21,039 Help me out. 847 00:50:21,139 --> 00:50:22,779 Boost.JupiterBroadcasting.com. 848 00:50:22,859 --> 00:50:24,519 I hope I did give you some value this week. 849 00:50:24,619 --> 00:50:27,659 My goal is to give you something that doesn't get distracted by the politics. 850 00:50:28,039 --> 00:50:30,759 or the emotion, or really any of that kind of stuff. 851 00:50:30,839 --> 00:50:33,379 We focus on the signal so that way you can plan for your friends, 852 00:50:33,479 --> 00:50:36,579 your family, your future, your stack, right? 853 00:50:36,659 --> 00:50:39,099 You can plan for your stack because the Bitcoiners that are aware 854 00:50:39,099 --> 00:50:43,519 and adapting and nimble are the ones that hopefully don't lose their coins. 855 00:50:43,959 --> 00:50:46,119 Those of us that are willing to shut our services down 856 00:50:46,119 --> 00:50:48,239 while we're in Austin, Texas at a Linux fest 857 00:50:48,239 --> 00:50:49,899 because there's yet another vulnerability, 858 00:50:50,339 --> 00:50:52,279 hopefully be the ones that continue to survive, 859 00:50:52,279 --> 00:50:54,739 and we do our damnedest to make it happen. 860 00:50:55,119 --> 00:50:57,079 That's just one of the roles I hope I can play for you. 861 00:50:57,079 --> 00:50:59,819 keep an eye on the future, see where all that goes. 862 00:51:00,239 --> 00:51:03,159 Thank you so much for joining me on this week's episode of This Week in Bitcoin. 863 00:51:03,939 --> 00:51:08,759 Back from Texas, keeping an eye on what went wrong. 864 00:51:09,239 --> 00:51:09,959 Thanks for joining me. 865 00:51:10,859 --> 00:51:11,499 See you next week. 866 00:51:27,079 --> 00:51:57,059 Thank you. 867 00:51:57,079 --> 00:52:21,359 Thank you.