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Welcome in to episode 18 of This Week in Bitcoin. My name is Chris.

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I'll have some crazy stats that are going to melt your brain about Bitcoin this

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week. But before we get there, I want to talk a little macro.

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I guess, you know, they knew I was going on summer break.

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And so the central management team of the U.S. economy, a.k.a.

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The Federal Reserve, seems to clearly be gearing up for a new cycle.

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Why do I say that? Well, I don't know what you were doing this week,

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but I spent the last two days watching the Federal Reserve Chairman Jerome Powell

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testify on Capitol Hill.

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And it's question after question where Jay Powell manages to kind of give the

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same answer without saying the same thing.

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The guy could give a master class in doing this. It's really impressive.

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But watching him, it became clear that there's been a flip of the script.

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And it has to do with the narrative around jobs.

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And jobs have always played a strong role in if we raise the rates or if we

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lower the rates because it's part of the, quote unquote, the Fed's dual mandate.

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How you have a dual mandate, I don't know. But the reality is, is why J-PAL?

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Well, J-PAL's up there, you know, and he's given his testimony and he's kind

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of trying to say things without saying things, which is what he does.

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There's U.S. economic data coming out that looks worse and worse,

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and it doesn't matter how you slice it.

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74% of the jobs came from government and health care and education.

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So that's where the bulk of the jobs are. The rest of the jobs, not doing quite so well.

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Leisure and hospitality, which have been a big source of job growth,

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just 7,000. Retail, we've had some strength there, down 8,500.

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And then temporary help, which is a potential leading sign, minus 48,000.

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So you have this kind of dual sector economy. By the way, it's not the federal

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government. A lot of it is local government jobs.

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They seem to be still hiring in those places or those municipalities.

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And it's the hospitals up 22,000. So that's where a lot of the job growth is

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coming from. Yeah, so you hear these headline numbers about job growth,

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but the reality is only 26% of those numbers came from, like,

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the private sector, from businesses.

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And I've been telling you that this job data that the Fed depends on for their

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decisions is shaky at best.

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But we're starting to see a real slide here that even their most rosy interpretation

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of the numbers can't seem to hide.

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The jobs report numbers for 2024 have been revised downwards four out of five months so far.

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And that trend continues this week. For April, the revision was 57,000 less jobs.

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All right, so they took 57,000 jobs off of the April report.

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And in the May report, they took off 54,000 jobs.

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You combine that, that is 111,000 fewer jobs created than previously reported by the government.

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Yeah, well, I'm surprised that I thought they might have actually even been

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a little higher than that.

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The other number I'd like to see if someone has access to it is what happened

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with, you know, those numbers you're reporting on the jobs or the establishment survey.

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If somebody has those household survey numbers, because those are the two reports.

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But look, I think we all agree the economy is softening. It's starting to bump

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down and that should be very concerning.

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And we have a big election coming up in a few months. And the last thing Biden

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or Kamala Harris want is an economy on the descent.

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And, you know, we've seen this, by the way, in the small business surveys,

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in the consumer consumer surveys.

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People are getting nervous about this economy. Look, we all agree.

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You know, even though a month ago we were saying inflation is just made up and

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you don't appreciate how great the economy is.

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Now, this month we're saying, yeah, we all agree it's on the downtrend.

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But you heard him right. They revised down one hundred eleven thousand jobs

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and you combine April and May and they're going to do the same for June when

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they revise June next month.

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So really, we should just be ignoring the headline number when it comes out

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and just wait for the revision each time.

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And I know it's painful. These are real numbers.

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We know it's painful because J-PAL told us it would be painful when they started the rate hike process.

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While higher interest rates, slower growth and softer labor market conditions

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will bring down inflation, they will also bring some pain to households and businesses.

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These are the unfortunate costs of reducing inflation. What can we do? What can we do?

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We can't leave inflation too high. They only have one lever.

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So sorry, you're going to feel some pain.

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We've had revisions all year. The largest revision from 353,000 to 256,000,

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taking 97,000 out, took place in January.

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Over the past two months, part-time employment is up by 336,000 workers.

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That's part-time. But full-time employment is down by a massive 653,000 workers losing full-time jobs.

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653,000 over the same amount of time over the last two months.

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So we're adding half of those to part-time, but still half are just out.

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This is just data straight up from the Bureau of Labor Statistics.

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Also, 11% of men aged 25 to 54 don't have a job and are not looking for one.

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11% of men in the United States age 25 to 54 which what I would imagine is probably

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some of the ideal working age that's more than triple the percentage recorded

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in 1995 which is just 3% when I was a kid,

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It's 11% now. Again, straight from the Bureau of Labor Statistics.

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So jobs are not looking so good. And jobs matter in their decision process.

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The strength of the job market or the lack of has been J-PAL's go-to card to play for years.

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Even when inflation was quote-unquote transitory and people were starting to

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raise alarm bells that inflation was coming and that we needed to raise rates,

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Jay Powell back then used low employment as a reason to keep rates lower for

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longer. Yes, lower for longer.

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Fed Chair Jerome Powell will paint a bleak picture of the labor market,

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Melissa, and how far the U.S. has to go to get back to where it was,

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and also connecting that to a very strong case to keeping the Fed's easy monetary policy in place.

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Powell will say the Fed will maintain a low target rate until employment and

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inflation near their goals.

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The Fed will also maintain assets and asset purchases at $120 billion per month,

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and it will not tighten slowly, solely in response to a strong job market.

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It says we are a long way from a strong labor market, and the labor market recovery

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requires continued policy support.

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See that labor market, you got to support that labor market.

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And this week, that script completely flipped 180 degrees.

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Same kind of emergency possible conditions are coming, you know,

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because the Fed always, you know, we have to do something. It's an emergency.

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Sure, we created the emergency, but we have to do something.

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And now they completely will flip. So they have used jobs as the reason that they needed to tighten.

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You know, Jay Powell was once talking about 4.7% on inflation was his target.

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And then once they get there, they just flip the script.

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Let's get to Steve Leisman as Powell's prepared remarks just crossed the tape. Steve.

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This is from today. The clip I played for me just a moment ago that sounds just

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like this one was from three years ago when we were saying, or maybe almost

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four years ago now, when inflation was transitory and rates were low.

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That's what I just played. Now I'm playing you from today.

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It's almost exactly the same script. It's just, you know, things get tweaked

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a little bit. Let's get to Steve Leisman as Powell's prepared remarks just crossed the tape. Steve.

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Yes, Fed Chair Jay Powell will tell the Committee on Banking,

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Housing and Urban Affairs that the labor market conditions have cooled while remaining strong.

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Most recent inflation readings, he says, have shown modest further progress.

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And he calls monetary policy restrictive and says restrictive monetary policy

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is putting downward pressure on inflation.

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The committee, however, is still seeking greater confidence inflation is declining

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before reducing rates. He quotes that part of the statement, which says that.

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Then he uses the phrase, more good data, he says, would strengthen our confidence

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that inflation is heading towards it.

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And he's really referring back to the most recent inflation reports we've had.

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Elevated inflation, he says, is not the only risk we face.

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So he's talking much more two-sidedly about the risk.

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And he yet goes on to cite the risk of moving too early and too late,

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as he has done in the past.

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The risks to achieving the employment and inflation goals are coming into better

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balance, the Fed chairman says. And the economy continues to expand at a solid

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pace, moderating in the first half after strong growth in the second half of

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last year. Here's what he sees on the economy.

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Solid increases in consumer spending, moderate growth in capital spending,

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a pickup in residential investment, and labor market strong,

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he says, but not overheating.

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I love these terms, strong, but not overheated. The reality is...

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They're starting to plan for rate cuts. Probably nothing major,

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right? Nothing major. But it seems like the table is being set right now.

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This is Goldman chair and former Dallas Fed president kind of just saying the quiet part out loud.

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I think if I were sitting in my former seat, I'd be getting ready to cut the rates in September.

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I wouldn't make any commitments between now and then, but I think they're positioning

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to cut rates in September. and they'll take it then one meeting at a time.

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There's enough cross currents that I think the smart thing to do is be short

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on prognostications and long on risk management.

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And I think risk management will dictate a rate cut in September.

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And you wouldn't have a problem with that. It's not moving the goalposts per se of inflation.

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I think as long as they see continued progress, I think you've seen enough cooling

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in the economy that I think they could justify a cut in September.

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But again, they'll wait right up until game time to make that decision.

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Yeah, so we don't know. We won't know, but it seems like the table is being

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set for it because we have the cooling job market.

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We also have the Eurozone slipping into recession.

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And the timing on all of this, when they make these moves, is a world of difference in the outcome. come.

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I cannot stress it to you enough.

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The entire key element to them successfully kicking the can.

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Depends on timing. And it's not just me saying that. In fact,

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Jay Powell says it keeps him up at night.

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The number one thing that just does keep me awake at night is the balance that

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I talked about before, which is we're at the critical time of inflation is coming

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down, the labor market is cooling,

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and we want to get it right for the benefit of the American people.

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We want to get inflation down 2%, but we want to keep a strong labor market too.

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And trying to make decisions that give that the best chance to happen,

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that is the thing that I think about in the wee hours.

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I hope he's also thinking that long term, this is just going to make things

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worse, especially when it comes to the rising cost of goods.

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The fiat supply will go up.

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People will have a temporary increase in purchase power, which will cause them

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to buy, buy, buy, especially people closer to the money supply and businesses.

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Scarce in-demand commodities like oil and shipping capacity,

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I guess, will become tight. Costs will go up.

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Stocks will pump lockstep with M2 supply, so businesses will feel rich again,

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but it's all going to be paper gains.

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Bitcoin is the only solution here that is available to the average person to hedge against this.

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I can't go buy $50 of real estate today, but I can go buy $50 of Bitcoin if

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I have a little bit extra cash today.

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It's accessible to my 13-year-old kids. You can get the Cash app at 13 years

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old and be sponsored by a parent.

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It's accessible to people all

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over the world that have this even worse outside the Western countries.

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Bitcoin is available to us. The central banks, they have no choice but to cut.

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The politicians who win the popularity contest of a vote have no choice but to spend.

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But you have the choice to opt out of all of this crap in the long term by buying Bitcoin.

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And the good news is, in the short term, Bitcoin seems to be on sale.

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So there's that. The Bitcoin ETFs, though, are snapping this up like crazy.

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There was a big debate if the Bitcoin ETFs would have lettuce hands and if they

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would freak out on the first dump and sell, but that seems to be the opposite.

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They have taken in $654 million in the last three trading days.

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Tuesday, BlackRock's iBit took in $121 million alone.

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To put $121 million in a single day for an ETF into context.

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Eric Balkenhaus, who is the Bloomberg ETF analyst, wrote, quote,

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just for kicks, I ran the numbers last year, there were about 500 ETFs launched.

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We're halfway through 2024, and 76% of those are still under $121 million in assets. sets.

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Raising 100 million total in the ETF teradome is hard for a newbie,

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yet iBit has taken over 100 million in a day 60 times since launching.

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In other words, BlackRock's ETF takes in, in the last week, has taken in individually,

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like on Tuesday alone, more than 76% of all of the other ETFs that launched

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in the last year have taken in total of their entire run.

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So the scale is massive. Also, permanent Bitcoin hodlers, those who have custodial

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wallets or just wallets where there's been no outflows for a year or more, those.

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Addresses have accumulated 85,000 Bitcoin in the last 30 days.

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People are snapping up this dip.

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Almost, not quite, but almost all of the coins that are available on the market

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right now are are getting snapped up. It's really kind of impressive.

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So we're seeing the exact opposite, I think, of what people expected.

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And we might look back at the selling that's happening, like for example,

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by the German government right now, who's selling at a discount.

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We might look back at that as a historic transfer of wealth from one nation to another.

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We could be watching pizza day on steroids in real time right now.

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So let's talk about those Germans.

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Music.

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Last week, I told you they had about 50,000 Bitcoin to sell,

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and boy, have they been just selling.

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It's been going really since June 17th, so we are pretty far into their process.

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In fact, I'd estimate about 76% of their stash has been sold.

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They seem to have somewhere around 13,000, maybe a little less, Bitcoin left.

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But they have been selling tens of thousands a day. For example,

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on June 17th, they sold 49,878 Bitcoin.

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June 24th, 47,178. June 30th, 46,191.

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Let's just skip over it because they sold on July 1st, 2nd, 3rd, 4th, 5th, 6th.

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They didn't sell on the 7th, but they sold on the 8th, the 9th, and the 10th.

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00:15:34,848 --> 00:15:41,108
So July 4th, America Day, the German government sold 42,273 Bitcoin.

220
00:15:42,268 --> 00:15:46,648
July 10th, which is the last day I have data on right now, 18,110.

221
00:15:47,048 --> 00:15:51,548
So it's slowing down a little bit. But the foolish thing they're doing is they're selling it on spot.

222
00:15:51,768 --> 00:15:54,748
So they're driving down the price of the market. And so every time,

223
00:15:54,768 --> 00:15:58,888
every subsequent sell they're doing, they're getting less and less for their coin.

224
00:15:59,128 --> 00:16:02,608
And they could have probably sold the whole lot at a reasonable discount OTC.

225
00:16:02,888 --> 00:16:07,688
They could have sold the whole lot in one go OTC at like a smaller discount. account.

226
00:16:08,128 --> 00:16:11,468
So it's just really funny to see them blow this so badly.

227
00:16:11,608 --> 00:16:17,308
I mean, I feel bad for the citizens over there because a lot of US ETFs are snapping this up.

228
00:16:17,408 --> 00:16:19,728
A lot of long-term hodlers are snapping this up.

229
00:16:19,968 --> 00:16:23,548
And you got to give Bitcoin some credit. I mean, the German government's liquidated

230
00:16:23,548 --> 00:16:26,588
close to a billion in Bitcoin in a single day in some cases.

231
00:16:26,968 --> 00:16:31,768
And the price moves like 2%, 5%. I mean, really kind of impressive.

232
00:16:32,348 --> 00:16:34,768
And that's at the same time we've got the Gox bomb,

233
00:16:35,725 --> 00:16:40,645
And to understand the Goxbomb hype, I think you've got to go back in time about 10 years with me.

234
00:16:44,585 --> 00:16:49,265
Bad news for some Bitcoin holders. Mt. Gox, once the world's biggest exchange

235
00:16:49,265 --> 00:16:55,125
for the virtual currency, says it has lost around €350 million worth of them.

236
00:16:55,305 --> 00:17:00,305
Mt. Gox's chief executive, Mark Capelles, blamed the loss on hacking into its

237
00:17:00,305 --> 00:17:04,945
faulty computer system. He spoke as the exchange filed for bankruptcy protection

238
00:17:04,945 --> 00:17:06,745
from its creditors in Japan.

239
00:17:07,085 --> 00:17:10,845
Angry investors have been seeking answers for what's happened to their holdings

240
00:17:10,845 --> 00:17:15,025
of cash and Bitcoins on the unregulated Tokyo-based exchange,

241
00:17:15,305 --> 00:17:17,625
which froze withdrawals earlier this month.

242
00:17:18,225 --> 00:17:24,665
I mean, it might not be an exaggeration to say that Mt. Gox has inflicted emotional damage to Bitcoiners.

243
00:17:26,165 --> 00:17:31,085
We'll see how big the sell actually is as they just are returning now coins back to,

244
00:17:31,645 --> 00:17:37,485
some of their coins back to original holders but this has been hanging over

245
00:17:37,485 --> 00:17:42,305
us for 10 years we're finally clearing this out I lost coins on Mt.

246
00:17:42,365 --> 00:17:45,885
Gox probably more than 5 I don't

247
00:17:45,885 --> 00:17:49,945
really know I thought a couple of times about trying to figure it out.

248
00:17:50,966 --> 00:17:54,106
And then every time I start to try to put it together, I decide I don't want to know.

249
00:17:54,706 --> 00:17:59,966
But Bitcoiners have been sitting through years of finger pointing and fighting,

250
00:18:00,126 --> 00:18:04,666
years of legal disputes, years of figuring out who's going to get their coins and how much.

251
00:18:04,986 --> 00:18:07,666
Years of then worrying about when those coins would get sold.

252
00:18:08,206 --> 00:18:13,386
Mt. Gox has been a ticking time bomb of a black swan event that has been hanging

253
00:18:13,386 --> 00:18:17,846
over Bitcoin for longer than most people have known Bitcoin exists. this.

254
00:18:17,886 --> 00:18:22,926
And to me, it just feels like a huge relief that we are at the stage now where

255
00:18:22,926 --> 00:18:24,826
the coins are being returned to owners.

256
00:18:25,106 --> 00:18:29,086
The Bitcoin plunge, collapsed exchange Mt. Gox, I think I said that right,

257
00:18:29,206 --> 00:18:33,706
is beginning to reportedly pay back the nearly $9 billion in Bitcoin and Bitcoin cash.

258
00:18:33,946 --> 00:18:38,606
It owes to customers from its bankruptcy in 2014, stoking fresh investor fears

259
00:18:38,606 --> 00:18:41,006
that the customers might quickly sell the coins.

260
00:18:41,266 --> 00:18:44,366
The All Finance's Jared Blickery has more on this. Jared. Brian,

261
00:18:44,466 --> 00:18:47,966
I'm guessing you're not a Mt. Gox customer, but good news for them.

262
00:18:48,026 --> 00:18:50,786
Over the next 60 to 90 days, they're going to get repaid.

263
00:18:50,946 --> 00:18:54,906
This was a bankruptcy that happened. Well, it was actually a theft,

264
00:18:54,986 --> 00:18:59,346
a heist that led to a bankruptcy about 10 years ago. This was a Japanese-based exchange.

265
00:18:59,626 --> 00:19:03,266
They lost over 700,000 coins, Bitcoin specifically.

266
00:19:03,686 --> 00:19:08,246
And now the trustee is set to return about 140,000 to the market.

267
00:19:08,426 --> 00:19:13,166
It's almost like a software platform that was built to trade Magic the Gathering cards.

268
00:19:14,226 --> 00:19:19,726
Wasn't the appropriate platform for a scarce digital asset that was going to

269
00:19:19,726 --> 00:19:23,326
be massively in demand at an exponential growth time. Almost like that.

270
00:19:23,726 --> 00:19:27,626
I just really think it's maybe the most bullish thing I've talked about in a

271
00:19:27,626 --> 00:19:29,406
while, that this has finally passed us.

272
00:19:29,686 --> 00:19:32,126
Yeah, some of these people are going to sell their coins, but some of these

273
00:19:32,126 --> 00:19:33,126
people are going to keep on hodling.

274
00:19:33,286 --> 00:19:37,586
And if they've been following the news at all, I think they'd very wisely just

275
00:19:37,586 --> 00:19:38,886
keep on hodling for a bit.

276
00:19:39,186 --> 00:19:42,866
But I'm curious. So boost it and tell me, have you ever lost some sats?

277
00:19:43,783 --> 00:19:47,203
Have you lost a lot of sats? And was it an exchange thing?

278
00:19:48,023 --> 00:19:55,443
I have heard from listeners that have lost coins in some of the exchanges that went bust after FTX.

279
00:19:55,963 --> 00:20:00,023
So I'm curious if you've ever lost any sats. Boost in and share your pain.

280
00:20:01,303 --> 00:20:04,563
I don't know. I want to know, I guess. Might make me feel better.

281
00:20:03,760 --> 00:20:14,960
Music.

282
00:20:15,043 --> 00:20:17,263
I'll see you later. All right. Well, coming up, your boosts,

283
00:20:17,263 --> 00:20:20,603
some important project updates, and a banger of a final clip.

284
00:20:20,683 --> 00:20:23,303
So I want to thank our sponsor, Podhome.fm.

285
00:20:23,503 --> 00:20:28,403
Use my promo code TWIB and take the first three months off for free when you

286
00:20:28,403 --> 00:20:31,663
use the podcasting 2.0 hosting platform that I use.

287
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It's got unlimited shows and episodes. It's powered by unlimited Podhome AI.

288
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289
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clips, and even help you figure out episode titles and descriptions.

290
00:20:43,203 --> 00:20:46,743
It's also got the best 2.0 live streaming support, so if you want to do some

291
00:20:46,743 --> 00:20:50,403
live shows built right into the podcast app, Podhome makes it crazy easy.

292
00:20:50,743 --> 00:20:55,543
The UI makes it so simple to add, like, value-for-value music or add somebody to your splits.

293
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It focuses on solving the things that make podcasting a grind,

294
00:20:59,123 --> 00:21:03,223
and you can try it for free for three months when you use my promo code TWIB.

295
00:21:03,783 --> 00:21:06,063
Go try it out at podhome.fm.

296
00:21:07,163 --> 00:21:11,663
Also, if you're looking to sell those sats that are burning a hole in your pocket,

297
00:21:11,963 --> 00:21:13,443
try out the Bitcoin company.

298
00:21:13,783 --> 00:21:18,923
It's all on Lightning. You can purchase gift cards with sat rewards over Lightning.

299
00:21:19,183 --> 00:21:22,743
And if you use the promo code Jupiter, we both get some extra sats back.

300
00:21:23,043 --> 00:21:27,423
When I do spend sats, the Bitcoin company is how I do it. And when I buy sats,

301
00:21:27,483 --> 00:21:30,783
I buy those sats on River. I have links to both of those in the show notes.

302
00:21:31,083 --> 00:21:34,603
Another great way to support the show. And thank you, everybody, who does that.

303
00:21:34,863 --> 00:21:40,623
I really appreciate it. It's pothome.fm and links to River and the Bitcoin Company in the show notes.

304
00:21:41,739 --> 00:21:47,339
Let's get to the boosts. And we've got a nice batch of boosts here to take me out on my summer break.

305
00:21:47,719 --> 00:21:53,859
And our baller booster is Satsquanch coming in with 67,890 sats.

306
00:21:53,879 --> 00:21:55,199
You are our lobster, sir.

307
00:21:59,259 --> 00:22:02,679
He writes, I look forward to listening every week, Chris. I've been mining for

308
00:22:02,679 --> 00:22:06,239
the past three years with Compass, but would love to move my rigs over to Barefoot

309
00:22:06,239 --> 00:22:07,239
when something opens up.

310
00:22:07,659 --> 00:22:11,199
I only stack my mining earnings after I pay for electricity with Dirty Fiat,

311
00:22:11,199 --> 00:22:14,579
converted to lightning for anonymity it would be interesting to hear your take.

312
00:22:14,579 --> 00:22:18,239
On the pros and cons of different pools and hosting outfits for guys like me

313
00:22:18,239 --> 00:22:20,739
okay i don't want to be super negative,

314
00:22:21,599 --> 00:22:28,199
squanch but when i've done the math on this stuff it almost always just works out to just,

315
00:22:28,739 --> 00:22:32,899
stack bitcoin especially at times like right now as i record when it's on sale,

316
00:22:33,419 --> 00:22:36,279
that's my funny way of saying the price is down uh it

317
00:22:36,279 --> 00:22:39,879
just seems like i mean could you help me you understand that math i

318
00:22:39,879 --> 00:22:42,699
almost because here's why i bring it up if you're looking

319
00:22:42,699 --> 00:22:45,699
at moving over to barefoot well maybe when you're moving from compass to

320
00:22:45,699 --> 00:22:48,739
barefoot maybe that's the time to hit pause on this and just

321
00:22:48,739 --> 00:22:51,919
you know ask yourself if i don't

322
00:22:51,919 --> 00:22:54,119
know i mean if you still need to earn your money back on the rigs that's one

323
00:22:54,119 --> 00:22:58,459
thing but you know what i mean squanch um also i think you know if i were looking

324
00:22:58,459 --> 00:23:01,519
at mining although i'd appreciate anybody's feedback on this i'd probably highly

325
00:23:01,519 --> 00:23:06,439
consider ocean right now myself uh just to help distribute that hash a little

326
00:23:06,439 --> 00:23:09,039
bit and it seems Seems like they've got a pretty good system over there.

327
00:23:09,459 --> 00:23:12,219
But I'd love some follow-up on that. Anybody mining, oh, man,

328
00:23:12,279 --> 00:23:14,799
I'd love to pick your brain on that. That is fascinating.

329
00:23:15,499 --> 00:23:18,959
Ready 1, take 4, comes in with a Jar Jar Boost, 5,000 sats. You supposed!

330
00:23:20,019 --> 00:23:24,779
I'm in the camp of no power company controlling my thermostat. Way too creepy for me.

331
00:23:25,179 --> 00:23:28,779
Yeah, so, Ready, I was talking to family and friends about this between shows.

332
00:23:29,719 --> 00:23:34,199
And universally, they're all anti-thermostat manipulation. Manipulation.

333
00:23:35,979 --> 00:23:39,699
But then when I ask them how they feel about me remoting and adjusting that they're fine,

334
00:23:40,767 --> 00:23:44,227
So I guess take that for what it's worth. I think that's interesting because I do.

335
00:23:45,147 --> 00:23:49,467
I have the studio and my home both are tied into Home Assistant,

336
00:23:49,627 --> 00:23:52,247
and then I remotely control temperatures using that.

337
00:23:52,587 --> 00:23:55,007
So family can be home, and I'll be like, I'll suggest that.

338
00:23:55,667 --> 00:23:59,367
I try not to, but I think it's happened. I don't know if they find that creepy

339
00:23:59,367 --> 00:24:01,007
or not. It doesn't seem so.

340
00:24:01,627 --> 00:24:07,487
Halleck comes in with 10,000 sats, and, you know, 10,000 is over 9,000. It's over 9,000!

341
00:24:07,967 --> 00:24:11,807
I used to stream 50 sats a minute, but I felt like it sort of punished tighter

342
00:24:11,807 --> 00:24:15,447
shows like this one. I think way too much about boosting your streaming.

343
00:24:16,507 --> 00:24:20,127
Well, I appreciate, Alec, that you're giving consideration. I think a lot about

344
00:24:20,127 --> 00:24:22,167
the show, so I appreciate that you think a lot about the value.

345
00:24:23,247 --> 00:24:26,327
Oppy1984 comes in with 4,000 sats. Everything's under control.

346
00:24:26,867 --> 00:24:29,767
Obviously, I don't know your exact location, but there seems to be a lot of

347
00:24:29,767 --> 00:24:33,987
MQTT nodes, internet-connected nodes, in Washington, particularly near the coast.

348
00:24:33,987 --> 00:24:36,847
Post, non-MQTT might not show up.

349
00:24:36,867 --> 00:24:39,467
So there's probably a lot of nodes that won't show up on the map.

350
00:24:39,567 --> 00:24:42,387
But here's a map, and he sends me to meshmap.net.

351
00:24:42,607 --> 00:24:45,327
We've been talking about mesh radio systems.

352
00:24:45,567 --> 00:24:48,607
I didn't realize they're using MQTT. Fascinating.

353
00:24:50,127 --> 00:24:53,987
Man, I've used MQTT back in the day for messaging between Windows applications

354
00:24:53,987 --> 00:24:55,947
and System 390 mainframe applications.

355
00:24:56,287 --> 00:25:01,947
And then Home Assistant uses MQTT a lot for messaging between low-power nodes. Fascinating.

356
00:25:02,687 --> 00:25:08,347
I got MERS radios, which are nothing like this, but I got M-U-R-S MERS radios for our road trip.

357
00:25:09,007 --> 00:25:11,887
I wanted something that doesn't have a lot of traffic, something that doesn't

358
00:25:11,887 --> 00:25:14,787
need licensing right now just because it's for the kids and us to play around

359
00:25:14,787 --> 00:25:17,207
with while we're on the road, caravanning or whatnot.

360
00:25:18,007 --> 00:25:22,127
And they're okay. You know, boy, their range sucks. I got cheap ones,

361
00:25:22,207 --> 00:25:25,587
but I really do think I want a better radio solution eventually. Okay.

362
00:25:26,715 --> 00:25:33,455
One dull geek comes in with 3,333 sats. The traders love the vol.

363
00:25:33,695 --> 00:25:37,275
I don't know. It doesn't seem so dull. You asked if we should become less maxi.

364
00:25:37,275 --> 00:25:40,675
If you should become, oh, me. You asked if you, he's talking about me, me.

365
00:25:41,095 --> 00:25:44,375
If I should become less maxi. My vote is no. Do what you need.

366
00:25:44,435 --> 00:25:48,435
But if you ever start promoting shit coins, I'm out. Now, I wasn't asking if I should be less maxi.

367
00:25:49,635 --> 00:25:53,695
I was asking if the audience out there has been fooling around with alt coins.

368
00:25:54,175 --> 00:25:58,415
You know because i can come down pretty hard and pretty negative and then in

369
00:25:58,415 --> 00:26:00,735
the back of my mind i'm like you know there's probably somebody listening that

370
00:26:00,735 --> 00:26:02,415
has a little eth or something

371
00:26:02,855 --> 00:26:07,895
i mean sometimes i'll be honest with you a little eth does happen uh it happens

372
00:26:07,895 --> 00:26:10,815
i had a credit card that gave me eth reward once i don't even know what to do

373
00:26:10,815 --> 00:26:11,815
with it what do you do with eth.

374
00:26:12,795 --> 00:26:17,435
I'm not gonna put it like i can't put it on a cold car like it's silly uh so

375
00:26:17,435 --> 00:26:20,435
sometimes it happens But, you know, not intentionally.

376
00:26:20,715 --> 00:26:23,195
Faraday Fedora comes in with 5,000 sats. You supposed!

377
00:26:23,995 --> 00:26:28,415
The most important thing you get from getting your ham license is knowledge.

378
00:26:28,895 --> 00:26:33,695
A ham using unlicensed radio like Meshtastic or FRS is way more effective than

379
00:26:33,695 --> 00:26:35,095
a non-ham using ham radio.

380
00:26:35,295 --> 00:26:37,655
Channel your inner Shiela Boof and just do it!

381
00:26:38,215 --> 00:26:43,135
That's a great point. The knowledge that I understand even when I'm not using licensed radio stuff.

382
00:26:43,375 --> 00:26:46,355
Thank you. That is a pretty good little insight right there.

383
00:26:46,635 --> 00:26:49,335
I appreciate that. that gene beans coming in hot with

384
00:26:49,335 --> 00:26:52,275
a boost coming in hot with the boost 2048 sets

385
00:26:52,275 --> 00:26:55,635
i'm behind um but don't touch

386
00:26:55,635 --> 00:26:59,275
crypto much as you've described in the past don't worry i'm not asking about

387
00:26:59,275 --> 00:27:08,375
me i was asking about you guys so oh here we got worked up todd from northern

388
00:27:08,375 --> 00:27:13,735
virginia comes in with 11 101 sets that's not possible nothing can do that yeah

389
00:27:13,735 --> 00:27:15,175
you might be right scotty there's no message.

390
00:27:15,415 --> 00:27:18,135
But thank you, Todd. I do appreciate that value.

391
00:27:18,555 --> 00:27:23,235
And user 849 comes in with 2,221 sats.

392
00:27:24,455 --> 00:27:29,915
User got to set that username I found. Says, you asked about how maxi the audience

393
00:27:29,915 --> 00:27:31,315
is. Ah, user, you got the question.

394
00:27:31,595 --> 00:27:34,295
I did have some altcoins and some scoins.

395
00:27:35,095 --> 00:27:36,855
One got so hot it melted.

396
00:27:37,815 --> 00:27:43,055
Dang Celsius. Yeah, I know, right? However, there is one coin that we We can't

397
00:27:43,055 --> 00:27:46,495
sell, and currently the only option is to hold it, and that coin is Pi.

398
00:27:46,935 --> 00:27:51,075
I would very much get rid of it to be fully maxi. Maybe also have some bad on

399
00:27:51,075 --> 00:27:52,595
Brave. However, I don't have dollars.

400
00:27:52,795 --> 00:27:55,515
Oh, okay. Well, there you go. I guess dollars might be the ultimate S coin.

401
00:27:56,415 --> 00:28:01,055
Yeah, you know, because I've been around forever, I've been around during some

402
00:28:01,055 --> 00:28:07,135
of the Bitcoin forks and ended up with other Bitcoin forks and then would log

403
00:28:07,135 --> 00:28:08,395
into an exchange and be like, Oh,

404
00:28:08,495 --> 00:28:13,035
there's Bitcoin cash on here. or I can't even remember if that's what it was.

405
00:28:13,435 --> 00:28:17,355
But let's just say it was. And then like I went to go sell it and no, no.

406
00:28:17,475 --> 00:28:21,475
Like no place could you really sell it. Like I just took a total L on that one.

407
00:28:23,831 --> 00:28:28,751
Don't mess around with the crap coins, kids. It really is. It really leads to pain.

408
00:28:29,211 --> 00:28:32,711
The podfather, Adam Curry, comes in with 10,000 sats. This is the way.

409
00:28:32,911 --> 00:28:35,791
Take the leap, brother. Hams will save the world.

410
00:28:36,631 --> 00:28:43,531
73s from K5ACC becoming a beaconing, sorry, on 20 meters VAR AC with 12 watts and a wire.

411
00:28:43,811 --> 00:28:47,571
Okay, I understand, like, I think 60% of that. Definitely the 12 watts.

412
00:28:47,691 --> 00:28:50,251
I get that with a radio and a wire, using that as an antenna.

413
00:28:50,591 --> 00:28:52,051
And, of course, I understand the call sign.

414
00:28:52,891 --> 00:28:59,411
And 73s, but beaconing on 20 meters, VAR AC, woo, Podfather, I have much to learn.

415
00:28:59,651 --> 00:29:03,091
I do not understand, but I want to. I really want to.

416
00:29:04,211 --> 00:29:07,871
You know, if I could get one of my kids into it, it'd be a no-brainer. Or a buddy.

417
00:29:08,511 --> 00:29:11,031
You know, if I could do it with somebody else, it'd be a no-brainer.

418
00:29:11,191 --> 00:29:15,131
But otherwise, I'm always just so heads down on the shows. I really should take a breather.

419
00:29:15,651 --> 00:29:18,331
Well, I mean, I am going on summer break, but I'm taking the family to Montana.

420
00:29:18,771 --> 00:29:20,411
Ace Ackerman comes in with a row of ducks.

421
00:29:21,671 --> 00:29:24,511
I've owned many alt coins and think that few could have

422
00:29:24,511 --> 00:29:27,631
you been useful uh but have

423
00:29:27,631 --> 00:29:30,371
chosen to focus my time and energy on bitcoin which is

424
00:29:30,371 --> 00:29:33,731
the only one i consider a form of money or a store of value thanks for all your

425
00:29:33,731 --> 00:29:37,591
hard work yeah you know i know there there's some okay here's another example

426
00:29:37,591 --> 00:29:41,191
people that are big monero fans hate it when i discount monero because you know

427
00:29:41,191 --> 00:29:46,671
it's more private um but i agree when it comes to genuine money and a store

428
00:29:46,671 --> 00:29:50,291
of value uh i wouldn't i I wouldn't hodl Monero.

429
00:29:50,851 --> 00:29:53,851
Maybe, you know, could I see using it for a daily transaction?

430
00:29:54,971 --> 00:29:59,211
Maybe. I would just prefer to use Lightning, though, to tell you the truth. So I'm not sure.

431
00:30:00,131 --> 00:30:03,891
But it's the Monero folks I do hear from. I definitely hear from the Monero folks.

432
00:30:04,371 --> 00:30:09,391
Jen from Matix back with 2,000 sats. B-O-O-S-T. Hi, Chris. I became a Bitcoin

433
00:30:09,391 --> 00:30:11,371
maxi thanks to you and the Bitcoin dad pod.

434
00:30:11,711 --> 00:30:18,011
The show that made it click for me, though, was Office Hours Episode 9, We Hate Crypto 2.

435
00:30:19,071 --> 00:30:22,491
How about that office hours episode 9 that's

436
00:30:22,491 --> 00:30:26,891
a that's a blast from the past at the end of 2022 i removed all my bitcoin and

437
00:30:26,891 --> 00:30:30,111
altcoins from binance and coinbase and closed these accounts not to be tempted

438
00:30:30,111 --> 00:30:34,111
to go back again i went self-custody with sparrow walt thanks to robosats and

439
00:30:34,111 --> 00:30:39,391
btc sessions in 2023 since then i've loved reading stacker.news and i laugh

440
00:30:39,391 --> 00:30:41,431
every me monday i love me monday.

441
00:30:42,751 --> 00:30:47,191
I know i've turned into a guy that likes memes i like bitcoin memes and stacker

442
00:30:47,191 --> 00:30:49,931
news is great I'm Chris Hellyes over there.

443
00:30:50,311 --> 00:30:54,131
It says, my favorite place to buy sats is RoboSats and RealA.

444
00:30:55,071 --> 00:30:57,071
Oh, I know. I figured out how to pronounce that.

445
00:30:58,692 --> 00:31:03,932
Reali? No. Dang it. It's not Relai AI either, which is what I have in my head from Red Hat.

446
00:31:05,792 --> 00:31:11,092
Really? I can't remember now. I'm sorry. But also, I have read Thank God for

447
00:31:11,092 --> 00:31:13,272
Bitcoin and Fiat Ruins Everything from Jimmy Song.

448
00:31:13,532 --> 00:31:15,912
Those are great reads and I surely recommend.

449
00:31:16,432 --> 00:31:23,392
That's how little max I am for now. Next step is to run a node on Start9 and do my own SeedCider.

450
00:31:23,872 --> 00:31:27,672
Yeah, SeedCider does seem like a cool project. And let me know how you like Start9.

451
00:31:28,172 --> 00:31:32,592
Appreciate it. It says, thanks for the excellent value as always. Thank you.

452
00:31:33,192 --> 00:31:37,312
Wotsy came in with a row of ducks. B-O-O-S-T. And a row of ducks, I said.

453
00:31:38,472 --> 00:31:44,292
Thank you. Ah, but no message. Just sending some value. We had 14 boosters across 15 boost total.

454
00:31:44,612 --> 00:31:48,712
And we stacked 127, 492 sats.

455
00:31:49,812 --> 00:31:53,332
Thank you, everybody. Not bad. Not bad. And you'll have a couple extra weeks

456
00:31:53,332 --> 00:31:56,392
to boost in, so we could possibly have a banger when we come back.

457
00:31:56,392 --> 00:31:59,592
I don't know if you've ever wondered why I tell you the totals there,

458
00:31:59,672 --> 00:32:02,052
but I believe in radical transparency with this project.

459
00:32:02,452 --> 00:32:06,732
We're all adults here, and I think we all know that something that's bespoke

460
00:32:06,732 --> 00:32:10,912
and handmade takes time and effort and is not necessarily cheap.

461
00:32:11,012 --> 00:32:14,092
And so I put the totals out there so you know how we're doing.

462
00:32:14,252 --> 00:32:19,392
And if the totals don't do great for a long time, you understand where we're at. We're clear.

463
00:32:19,892 --> 00:32:23,532
You know the show isn't really, you know, paying for itself or you know the

464
00:32:23,532 --> 00:32:25,632
show is doing great and that gives you a sense of growth.

465
00:32:25,732 --> 00:32:28,692
And, you know, if you think about it, it's a really strong signal that gets

466
00:32:28,692 --> 00:32:31,972
completely hidden from you with the advertiser model.

467
00:32:32,492 --> 00:32:35,892
But with value for value, part of the value I want to give back to you is transparency

468
00:32:35,892 --> 00:32:39,492
here and how this is all working. And so that's why I read the totals here at the end.

469
00:32:39,792 --> 00:32:43,532
Just kind of give you an idea. And I appreciate everybody who does boost in.

470
00:32:43,532 --> 00:32:46,712
It means a lot not only to read your message and have this opportunity to chat

471
00:32:46,712 --> 00:32:49,752
with you on the show, but also just to see that value roll in throughout the

472
00:32:49,752 --> 00:32:50,792
week as I'm working on the show.

473
00:32:51,152 --> 00:32:54,872
It's a nice little motivator. And you can send a boost in with the new podcast

474
00:32:54,872 --> 00:32:56,612
app over at podcastapps.com.

475
00:32:56,952 --> 00:33:00,052
Fountain is just going from win to win, and they've integrated Strike.

476
00:33:00,112 --> 00:33:03,352
And Strike is now available in 100 countries, including the UK,

477
00:33:03,452 --> 00:33:05,912
and it's on the Lightning Network. So it's a really nice workflow.

478
00:33:06,412 --> 00:33:09,052
But Podverse is something to look at as well because it's cross-platform,

479
00:33:09,152 --> 00:33:13,372
available on the web, Android, and iOS. And then I really love Castomatic on iOS.

480
00:33:13,992 --> 00:33:16,992
But there's a bunch of great apps, including things like True Fans and other

481
00:33:16,992 --> 00:33:20,812
ones over at podcastapps.com. Then you can boost in and support the show.

482
00:33:21,392 --> 00:33:25,032
And, you know, much appreciated because it's a value for value podcast.

483
00:33:25,152 --> 00:33:27,852
So if you got a little value out of it and you want to contribute back.

484
00:33:29,040 --> 00:33:39,600
Music.

485
00:33:40,745 --> 00:33:47,785
Wasabi Wallet has issued a warning that the WasabiCoordinator.io coordinator

486
00:33:47,785 --> 00:33:50,725
is silently stealing funds.

487
00:33:50,865 --> 00:33:55,625
According to the project, they're using a sophisticated attack to slowly siphon funds from users.

488
00:33:55,805 --> 00:33:59,185
They say, quote, we will release a new version that prevents this.

489
00:34:00,085 --> 00:34:04,465
They also said that their Windows installer had the MSI on GitHub replaced earlier

490
00:34:04,465 --> 00:34:07,065
with a bogus installer for Windows.

491
00:34:07,065 --> 00:34:09,965
Windows so you need to check that out go follow

492
00:34:09,965 --> 00:34:13,065
up on that if you have Wasabi on Windows some good news

493
00:34:13,065 --> 00:34:18,545
one of my favorite Nostra clients Primal for Android version 1.0.3 is out and

494
00:34:18,545 --> 00:34:22,465
it seems like the team feels like this is really the app they feel like it's

495
00:34:22,465 --> 00:34:26,225
worth promoting they say it's a milestone where it's stable and feature complete

496
00:34:26,225 --> 00:34:31,665
and then in the absolutely bonkers category we We mentioned Celsius in the boost.

497
00:34:32,605 --> 00:34:39,345
Bitfinex Celsius is reporting on Weapon X that Celsius is going after 5,000 people.

498
00:34:40,205 --> 00:34:43,885
Celsius, the company that's, you know, like bankrupt and being sued,

499
00:34:43,985 --> 00:34:48,885
you know, all of that is going after 5,000 people that withdrew their money

500
00:34:48,885 --> 00:34:52,025
from Celsius within 90 days of their bankruptcy.

501
00:34:52,025 --> 00:34:57,685
Bankruptcy so imagine you withdrew your funds from a crypto exchange that was

502
00:34:57,685 --> 00:35:02,885
lying about what they do with your money lying to you lying to your face over

503
00:35:02,885 --> 00:35:07,485
and over again and within 90 days of their bankruptcy you decide to take your

504
00:35:07,485 --> 00:35:09,605
funds out now you're getting sued.

505
00:35:10,998 --> 00:35:17,678
Just another reason to avoid keeping your funds in any of these institutions.

506
00:35:18,038 --> 00:35:22,438
This is probably a worst case example, hopefully one of the worst cases. Who knows?

507
00:35:23,338 --> 00:35:30,038
Things could change. But I plead with you, do not keep your Bitcoin on any of these.

508
00:35:30,618 --> 00:35:36,758
Even if they offer you some kind of yield or something like that. It's just not worth it.

509
00:35:37,898 --> 00:35:41,278
All right. Final clip of the week time. We're moving right along.

510
00:35:41,438 --> 00:35:42,658
It is the summer after all.

511
00:35:43,458 --> 00:35:46,398
This is a really interesting clip. It starts pretty intense,

512
00:35:46,578 --> 00:35:48,038
but I think it's brilliant.

513
00:35:48,198 --> 00:35:51,958
And it goes for a hard shift, about 60% in.

514
00:35:52,338 --> 00:35:56,578
This is a sales pitch of masterful degree.

515
00:35:57,098 --> 00:36:03,078
The team behind this, I want to meet and shake their hands. They're absolutely brilliant.

516
00:36:03,678 --> 00:36:08,098
It's a trailer for a documentary called God Bless Bitcoin.

517
00:36:08,498 --> 00:36:13,298
It takes a deep dive into the moral and ethical aspects of Bitcoin and the impact

518
00:36:13,298 --> 00:36:14,838
that Bitcoin can have on the world.

519
00:36:14,998 --> 00:36:18,318
Now, it's a pretty typical trailer with the boom, boom, boom,

520
00:36:18,318 --> 00:36:22,898
booms and the quotes and lots of different celebrity voices you'll partially recognize.

521
00:36:23,318 --> 00:36:27,238
But stay with it, because like I said, about 60 percent of the way in,

522
00:36:27,378 --> 00:36:29,178
it takes a pretty hard turn.

523
00:36:29,318 --> 00:36:33,538
And I think it's pretty brilliant. We'll break down why on the other end.

524
00:36:33,520 --> 00:36:40,400
Music.

525
00:36:38,958 --> 00:36:42,498
The dollar will dramatically lose its purchasing power. The more they print,

526
00:36:42,618 --> 00:36:43,438
the more it gets diluted.

527
00:36:43,878 --> 00:36:47,758
Who it's good for is the people at the tippy top. Because in order to keep the

528
00:36:47,758 --> 00:36:50,058
system going, they have to keep printing money.

529
00:36:51,869 --> 00:36:55,489
And Bitcoin is that tool that allows us to beat the money printer.

530
00:36:55,749 --> 00:36:59,949
Bitcoin is powerful in a way that is money that does not discriminate.

531
00:37:00,409 --> 00:37:05,509
Bitcoin is built by the people for the people. We're in a phase transition of

532
00:37:05,509 --> 00:37:07,749
society. It's more than a financial revolution.

533
00:37:09,749 --> 00:37:15,629
Government fiat currency is not just money. It steals from the poor and gives it to the rich.

534
00:37:15,789 --> 00:37:21,009
If you don't have the choice of how you spend or save your money,

535
00:37:21,649 --> 00:37:23,029
You don't live in a free society.

536
00:37:23,409 --> 00:37:28,169
If you have cell phones and a smartphone, you can have your bank with you everywhere.

537
00:37:28,489 --> 00:37:32,569
You can be anywhere in the world and there's an ability to transfer it or use

538
00:37:32,569 --> 00:37:33,969
it. That's a huge advantage.

539
00:37:34,189 --> 00:37:37,489
And that's why I think that the magic of the Bitcoin is.

540
00:37:37,769 --> 00:37:42,249
I'm excited for the future of Bitcoin because we're just really beginning to

541
00:37:42,249 --> 00:37:43,909
understand the advantages of it.

542
00:37:44,169 --> 00:37:47,209
Bitcoin economically arms everybody.

543
00:37:58,809 --> 00:37:59,409
Be a place of great mischief. My perspective is that Bitcoin does fix Now,

544
00:37:59,409 --> 00:38:04,629
we're about just over halfway in. The trailer has been pretty much what you'd

545
00:38:04,629 --> 00:38:08,669
expect from, you know, a documentary that's very, very pro-Bitcoin, obviously.

546
00:38:08,909 --> 00:38:13,229
But see if you can catch the tone shift or really the message shift.

547
00:38:14,169 --> 00:38:17,829
Bitcoin does represent freedom. Bitcoin is truth.

548
00:38:19,689 --> 00:38:23,689
Anyone can be a part of the Bitcoin economy. It's like a good church.

549
00:38:23,909 --> 00:38:29,129
Because it's an ethical ideology, there are many people that feel very spiritual about it.

550
00:38:29,249 --> 00:38:33,089
I think that Bitcoin has those characteristics to be not just the most Islamic

551
00:38:33,089 --> 00:38:36,129
form of money, but the most Jewish and the most Christian form of money as well.

552
00:38:36,289 --> 00:38:41,189
Bitcoin is just another step in the technological development of how we can serve God better.

553
00:38:41,409 --> 00:38:46,329
It is trying to remove politics from money. Bitcoin can make the world a better place.

554
00:38:46,749 --> 00:38:48,709
And there's nothing you can do to stop it.

555
00:38:48,880 --> 00:38:54,160
Music.

556
00:38:55,669 --> 00:38:56,929
God bless Bitcoin.

557
00:38:58,764 --> 00:39:04,804
Now, there you go. So why do I think this is very clever? By the way, it releases July 25th.

558
00:39:05,884 --> 00:39:07,784
I think this is extremely clever

559
00:39:07,784 --> 00:39:11,944
because the Republican Party just made crypto part of their platform.

560
00:39:12,284 --> 00:39:15,224
And in there, they call for the end of the crypto crackdown,

561
00:39:15,344 --> 00:39:17,104
you know, Operation Chokepoint 2.0.

562
00:39:17,224 --> 00:39:21,304
They call for a ban on CBDCs. They call for the right to mine,

563
00:39:21,524 --> 00:39:25,124
the right to self-custody, and whatever the right to transact freely means.

564
00:39:25,124 --> 00:39:30,204
But it's it's a big prominent part of the new Republican platform.

565
00:39:30,424 --> 00:39:35,324
And the reason why I bring this up is because that means people that consider

566
00:39:35,324 --> 00:39:38,804
themselves part of the Republican Party are going to be seeing this for the

567
00:39:38,804 --> 00:39:43,184
first time or at least hearing about this getting added to the platform and

568
00:39:43,184 --> 00:39:44,924
are going to be curious what the hell this is.

569
00:39:44,924 --> 00:39:48,304
And some of the people that are adjacent to the Republican Party and next to

570
00:39:48,304 --> 00:39:49,984
it are the religious base.

571
00:39:50,204 --> 00:39:54,184
And so if you can make a documentary that's God bless Bitcoin,

572
00:39:54,304 --> 00:39:57,904
that talks about how Bitcoin is ethical money that serves God's people,

573
00:39:58,124 --> 00:40:01,624
you're going to help explain it to people in a context that they're ready to

574
00:40:01,624 --> 00:40:02,444
receive the information.

575
00:40:03,224 --> 00:40:06,784
Right. It just makes sense. Like one of the things that drew me to Bitcoin is

576
00:40:06,784 --> 00:40:07,684
that it's free software.

577
00:40:08,284 --> 00:40:11,984
But that's not what draws other people. You know, that's a lot of people don't

578
00:40:11,984 --> 00:40:15,704
care that it's free software. But that was the context that it mattered to me

579
00:40:15,704 --> 00:40:18,124
that opened my eyes and made me pay attention.

580
00:40:18,944 --> 00:40:23,104
I don't know, almost 13, 14 years ago.

581
00:40:23,444 --> 00:40:28,164
But for some people, it's 2024 because the party that they're a member of,

582
00:40:28,164 --> 00:40:29,924
and this could be boomers in some cases,

583
00:40:30,104 --> 00:40:35,384
the party they're a member of all of a sudden has made a GOP platform that includes

584
00:40:35,384 --> 00:40:39,824
a prominent section about crypto. And they're going to have questions.

585
00:40:40,564 --> 00:40:46,424
And right as the conventions are coming, God bless Bitcoin comes out to help explain it to them.

586
00:40:46,724 --> 00:40:50,644
Now, is it going to be a movie I watch, a documentary I watch? Maybe.

587
00:40:51,344 --> 00:40:54,004
I pretty much watch everything Bitcoin.

588
00:40:54,784 --> 00:40:58,104
But I don't think it's one that's going to be trying to preach to the already

589
00:40:58,104 --> 00:40:59,944
converted. It's an introduction.

590
00:41:01,564 --> 00:41:07,124
The stroke of brilliance is somebody, I suspect, somewhere understands the timing of all of this.

591
00:41:07,824 --> 00:41:12,624
If this is all just coincidental, the way all the timing of this is lining up, then so be it.

592
00:41:13,024 --> 00:41:16,324
But if there is somebody, maybe the people behind the documentary or whoever,

593
00:41:16,564 --> 00:41:22,204
that have recognized the timing of all of these things aligning and that this

594
00:41:22,204 --> 00:41:24,424
base would be looking to understand what this is.

595
00:41:24,524 --> 00:41:29,624
And so they have a documentary for them that, I mean, it's just intensely insightful

596
00:41:29,624 --> 00:41:31,444
if somebody figured all of this out.

597
00:41:31,564 --> 00:41:33,304
Maybe they didn't, and maybe I'm giving people too much credit,

598
00:41:33,424 --> 00:41:35,644
but I kind of suspect they did plan it this way.

599
00:41:36,644 --> 00:41:39,764
So God bless Bitcoin, July 25th. I don't know.

600
00:41:40,504 --> 00:41:42,584
Let me know if you watch it. I'd be curious to know what you think.

601
00:41:43,124 --> 00:41:47,204
All right, that's it for the last episode before I take a two-week break.

602
00:41:47,344 --> 00:41:50,644
So I'll be gone. I'll be in Montana with the family for the next couple of weeks.

603
00:41:50,724 --> 00:41:54,364
But links for this episode are at thisweekinbitcoin.show.

604
00:41:55,304 --> 00:41:59,064
And you can find all of the previous episodes over there as well.

605
00:41:59,144 --> 00:42:01,504
I'd love to hear from you. So please do boost in during the break.

606
00:42:01,584 --> 00:42:04,164
Let me know what you'd like to see from the show, more of or less of,

607
00:42:04,264 --> 00:42:06,944
or any feedback to anything we talked about.

608
00:42:07,204 --> 00:42:11,084
Also could be a great time to share one of your favorite episodes with a friend

609
00:42:11,084 --> 00:42:12,384
who's also Bitcoin curious.

610
00:42:12,464 --> 00:42:16,624
I'd love for this to become the number one Bitcoin podcast in the podcasting 2.0 community.

611
00:42:16,744 --> 00:42:19,624
We're trying to support as many of the 2.0 features, including,

612
00:42:19,684 --> 00:42:22,344
I haven't figured it out yet, but at some point I want to do some lit streams.

613
00:42:23,084 --> 00:42:26,364
I don't know when, but for something I want to do some lit streams in the future.

614
00:42:26,364 --> 00:42:31,704
I do record all of this live to tape, so it would work perfectly well in a live format.

615
00:42:32,084 --> 00:42:35,324
So if you've got somebody who's Bitcoin curious, share it with them.

616
00:42:35,364 --> 00:42:38,584
If you've got somebody who's hip to podcasting 2.0, share it with them.

617
00:42:38,644 --> 00:42:39,744
I'd really appreciate it.

618
00:42:40,044 --> 00:42:44,224
Thank you so much for listening. We're going to wrap up with a value for value track.

619
00:42:44,664 --> 00:42:47,844
This one I had to play just because it's hilarious. It's actually been out for

620
00:42:47,844 --> 00:42:51,324
a little while, but it just made me chuckle through the entire song.

621
00:42:51,444 --> 00:42:53,504
It's called Fiat Prison Blues. Fiat Prison Blues.

622
00:42:53,520 --> 00:45:34,996
Music.