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I think the most beautiful thing about it is there's no one person setting the direction.

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And there's no one person on the other side that can stop it.

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So we have something that is pretty organic in nature and very principled in its original design.

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And I think the Bitcoin white paper is one of the most seminal works of computer

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science in the last 20, 30 years.

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Music.

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It's poetry.

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Welcome to Lucky Episode 33. My name is Chris, and let me just say right off

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the top of the show, happy 16th anniversary for the Bitcoin white paper.

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Happy anniversary to all you Bitcoiners out there new and old.

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And of course, thank you to Satoshi, whoever and wherever you are.

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It's going to be kind of a celebratory episode, I think.

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Things are lining up for old Bitcoin on its 16th anniversary.

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And there really is only one big story this week. And I'm not the one making a big stink out of it.

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People like the coin. It's clear on its 16th birthday, if you zoom out,

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it doesn't matter what the hourly price chart says.

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People like the coin. Bitcoin is trading at its highest point since March.

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It's up more than 5% in the last 24 hours, with Bitcoin's trading volume topping

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$31 billion and more than $224 million in short positions liquidated over that same window.

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Now, meanwhile, stocks tied to digital asset prices like Riot Platforms,

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Coinbase and MicroStrategy are all rallying this morning along with the wider

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crypto market as Bitcoin breaks past that key 70K resistance level.

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Now, spot Bitcoin ETFs have also seen a surge of inflows, adding over $3.1 billion

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in just the last two weeks, bringing the total market cap of those funds to

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nearly $73 billion since they launched in January.

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Just let that just sink in for a second. $73 billion in total market cap,

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and they launched this year in January.

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That's where these ETFs, we're going to get more into ETFs in a moment,

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but you can see why the people are getting bullish out there.

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... purge of inflows, adding over $3.1 billion in just the last two weeks,

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bringing the total market cap of those funds to nearly $73 billion since they launched in January.

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I've been speaking with analysts, and they say that with one week to go until

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the general election here in the U.S., investors are increasingly bullish that

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no matter who wins, it will be a net benefit for the industry.

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And already, guys, we are seeing options traders increase bets that regardless

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of who takes the White House, Bitcoin is poised to hit that 80K mark this year.

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80K, she says. All right. Well, so BlackRock's ETF, IBIT, has really been the winner.

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Yesterday, as I record, it took in just $875 million in a single day.

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I'm going to say it again, $875 million in a single day.

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The Bitcoin ETFs took in, in just the past two days, more than the gold ETF

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took in during its entire first year.

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In just the last two days, the ETFs together.

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More than all gold did in its first year. So now we've exceeded the $1 million Bitcoin number.

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ETFs now hold over a million Bitcoin. Also in the last couple of days,

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just kind of keeping things really just kind of frothy, Saylor announced a $42

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billion Bitcoin buy plan over the next three years.

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That's a staggering number. And Microsoft shareholders have already begun voting

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on whether or not Microsoft should invest some of its holdings into Bitcoin.

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The board recommends against it, but in that proposal to vote,

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the truth is laid unbelievably bare.

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I really encourage you to track this down and read it. I'll try to link to it if I can.

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Because the case they make clearly demonstrates that Bitcoin is their best hedge

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against the debasement of their holdings.

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So we have the ECB, we have the Federal Reserve Bank of Minneapolis,

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and now we have these shareholder activists that are all clearly saying in extremely

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public venues that Bitcoin is the best hedge against government debasement and

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government debasement is going to continue.

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So the language there is a win alone. So you can see why all of this with the

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ETFs becoming more successful, Wall Street is really bringing the money in.

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And the reason why this matters to standard plebs, just regular old plebs like myself...

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The truth of the matter is Bitcoin's price is getting too rich for most of us.

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Most of the OGs can't afford to buy Bitcoin at this price.

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You know, we can DCA, and even if Bitcoin was $200,000 a coin,

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I'd still DCA because I view that as a form of savings and diversification of

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future spending and a hedge against inflation.

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So it doesn't really matter what the price is at, I'm going to DCA,

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but I'm getting less and less coin for it.

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So we're entering into the price as we get to $70,000, where we really don't

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have the bags to move it as the plebs.

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It's Wall Street's game now to move these numbers.

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And that only happens when it becomes legitimate in their eyes.

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And the success of these ETFs is doing just that.

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So you've probably heard of VanEck before because it's one of the well-known,

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respected Wall Street firms out there that manages investments for rich people.

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I think right now they hold somewhere around $102 billion in funds under management.

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And one of their analysts, we'll get into it, Matthew Siegel, came on CNBC.

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And I'm going to play this clip. It's a little wonky for you if you're not into finance stuff.

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But bear with it because it really shows you where their head's at.

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And if you think about how Bitcoin gets to a million dollars,

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it's by adoption through all these various financial toolings like retirement

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funds and ETFs. investments.

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And the VanEck researcher, they'll tell you his name. His name's Matthew, I think.

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Matthew Siegel. They'll do a brief introduction and he'll get into why he sees

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what is, regardless of sort of short-term election stuff, a pretty bullish setup

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in the next, you know, even just a few months.

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The price of Bitcoin climbing over $68,000 this morning, up 100% in the last year.

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Let's take a look at some of the trends in the crypto of retail markets.

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Joining us is Matthew Siegel, head of digital assets research at VanEck.

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There are a variety of things that we've tried to correlate with Bitcoin movements.

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Become less and less successful at anything we can just count on.

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So this is the struggles real here. These, you know, these talking heads and

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I respect Joe, but these talking heads, they they try to constantly compare

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Bitcoin to something else.

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You know, what else does it what else does it track to that when they when they

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talk about if it correlates, they're saying, well, if the S&P goes up,

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does that mean Bitcoin goes up? And when the S&P goes down, does Bitcoin always go down?

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They're constantly looking to correlate it to some other asset so then they

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can kind of put it in a box. And what Joe's saying here at the intro is we keep

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trying to put Bitcoin in a box.

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And as soon as we get it all boxed up, it changes form and it no longer fits

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our definitions. And it throws us for a loop.

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But it does seem that when Trump started moving up in some of the,

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we just hit Calci on, in some of the betting sites, it does seem like this most

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latest run from 57 to almost 70,

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seems to be correlated with the betting odds improving.

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I mean, is that fair to say in your view, Matthew? Yeah, I agree with that.

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Trump is clearly the more pro-crypto and Bitcoin candidate, and VP Harris has

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not said a single word on it, so one doubts whether she truly understands it.

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But to your question about the correlations, the most significant long-term

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correlations for Bitcoin are a negative correlation with the U.S.

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Dollar and a positive correlation with money supply growth, or M2.

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So clearly on the latter front, money growth has re-accelerated.

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Okay, Matt's got my attention because those are the two things that I think

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if you were going to correlate Bitcoin to, it's when the money supply is going

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up and when the U.S. dollar, the Dixie, is going down.

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The strength of the dollar goes down, money supply go up, Bitcoin rally.

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And it makes sense. People are looking for a place to save their money,

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right? They don't want to basement.

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So, OK, so far, I'm on board with Matt's analysis here on if you were going

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to correlate to something, although it's not 100 percent, it's like 80 percent.

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This is something you could correlate it to. But as we go on, he gets a little spicy.

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With the Fed pivot, that may be playing part of a role. Also,

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some seller's exhaustion.

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The German government and the U.S. government sold, spitefully,

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$2 billion worth of Bitcoin in the last couple of months.

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That has eased. And I think the election is helping. You know,

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he seems a little nervous, but he still managed to get the German government

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sold spitefully in there, which doesn't which doesn't get our host don't miss that.

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They catch it and they try to get him to clarify what he means by spitefully selling their Bitcoin.

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I don't think he quite does a great job of it. Why did they do that?

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German government seized a couple billion dollars of Bitcoin in a crime and

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sold it in August because they don't like it.

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Because they don't like, you just said spitefully, I wondered why you had that,

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an adjective or an adverb, I don't know, maybe an adverb.

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Couldn't a correlation with the money supply explain why it seems to be just

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totally correlated with risk assets?

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If there's a lot of liquidity, risk assets seem to go up. Therefore,

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Bitcoin seems to go up and down.

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It doesn't seem to be a safe haven with risk assets.

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It seems to move totally correlated with, you know, the NASDAQ or the Magnificent Seven or whatever.

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All right. So this is a standard question. I'm glad Joe's asking it in a way

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because it's, isn't it really just kind of a risk asset that is correlated to tech stocks?

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And when the tech market rallies, Bitcoin rallies, isn't that really what's

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going on here? It's not a safe haven because the price can go down from day to day.

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The correlations change over time. Over a 10-year time horizon,

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the NASDAQ correlation with Bitcoin is a 0.19, quite low.

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Over the last three months, it's a 0.5, and that's a two-and-a-half-year high.

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And that may be keeping some allocators on the sideline because they want to see it fall.

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Our bet is that this is a very bullish setup for Bitcoin into the election.

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We saw the exact same pattern in 2020 where Bitcoin lagged with low volatility.

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And then once a winner was announced, we had a high vol rally as new buyers come into this market.

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And that's the great thing about Bitcoin is that every day there's new buyers

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being born. It's kind of like the video game industry.

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The olds who hate it die off. The new folks are buying it. And what we think

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is that I thought that was an interesting analogy.

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It's like the video game industry, which, you know, being around watching home

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consoles come in with the Atari and then kind of watching some families adopt it.

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And the younger generations clearly adopted it sooner.

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But the younger generations that adopted it, like me as a young lad.

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Man, I remember when we got the first NES.

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That was so high tech. And then I didn't want the Super Nintendo because I didn't

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think there were enough games for it when that thing came out.

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Because I was so in on the NES, right?

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Because it was such a step up from like the Atari and we didn't have a lot of money.

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So like I told my folks and they'd already bought it for me for Christmas.

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Don't get me the Super Nintendo. I'm fine with the NES.

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And then I unwrapped my big Christmas present and it was the Super Nintendo,

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which ended up being my favorite console.

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And I still game and I still play those games, but I play newer games too.

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Not much. I mostly can't do it for more than 10 minutes before I feel like guilty.

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But my observation is a lot of us that grew up video gaming still do it today.

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My folks don't really video game. I mean, maybe they'll play a casual game on

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their phone from time to time and they'll dabble.

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But, you know, I still have Steam. I have probably hundreds of games in my Steam library.

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I just installed a new, it's an older game, but I just installed one last night,

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right? I'm still actively in that area.

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And I wonder if the analogy is apt. I would love to have your opinion.

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What do you think is, is video game adoption similar to maybe how Bitcoin adoption will work?

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Is that a fair analogy? I'll back it up, boost it, and tell me what you think.

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In 2020, where Bitcoin lagged with low volatility.

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And then once a winner was announced, we had a high vol rally as new buyers come into this market.

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And that's the great thing about Bitcoin is that every day there's new buyers

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being born. It's kind of like the video game industry.

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The olds who hate it die off.

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The new folks are buying it. And what we think is that once the election result

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is finalized, Moody's is going to downgrade U.S.

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Sovereign debt. And that could be a catalyst for Bitcoin.

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Now, that's a bit of a bombshell right there that they just gloss right over.

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He thinks Moody's is going to downgrade the U.S. after the election,

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which I don't think would be great for short term.

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Going to downgrade U.S. sovereign debt, and that could be a catalyst for Bitcoin.

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Doesn't gold correlate with with the dollar and with M2 as well?

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And gold and Bitcoin It seemed like the correlation broke down a couple of times recently.

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Bitcoin is a chameleon. Its correlations change over time.

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It's hard to predict what it's going to be correlated with over the short term,

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over the long term. But do you really say it's because of the 21 million and

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fixed amount is out there, therefore the debasement of the currency favors that? I mean, that's.

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Yeah, it's a non-U.S. asset.

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It's an emerging markets asset. And while we were all hyperventilating about

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the election over the last week, BRICS had a conference in Russia.

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There's six new members of BRICS this year. So BRICS GDP is now greater than the combined GDP of G7.

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Of the six new members, three of them, Argentina, the UAE and Ethiopia,

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are now mining Bitcoin with government resources. So there is tremendous urgency outside of the U.S.

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To find a way to circumvent the irresponsible fiscal policy that we've been running here in the U.S.

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In fact, Russia announced an initiative there.

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Sovereign Wealth Fund is going to invest in a regional initiative to build Bitcoin

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mining and AI infrastructure throughout BRICS with an idea of settling global trade in Bitcoin.

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So, look, someday, I don't know if it's five years, 10 years,

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Putin's going to die. We're going to look to reintegrate some of these countries

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into the world financial system, and they're going to be trading with Bitcoin.

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What are we going to be doing? Okay.

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Yeah. Got him there, didn't he? He got him. They're literally speechless.

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Stunned? No, I'm just processing. You're processing?

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Processing. When will that be complete? The processing? Yes,

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so that you can make a comment.

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When is Bitcoin going to be complete? I have no idea. What does that mean?

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You know, you can sit there and you could say something like,

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at the scale of what she just did, and Sorkin, who is the one that had that,

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when is Bitcoin complete comment, he never gets it.

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In a way, though, it's like he's the perfect, I don't know, is it Muse?

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Is that the right term? I don't feel like it. But he's like,

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it gives us something to work against, right?

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Because he's the perpetual doubter. And so it always gives us something to work

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against. And I think in a way, we're constantly checking ourself.

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We're always kind of revisiting these things. We're refining how we view these things.

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But VanEck, I and many others, love the coin.

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And this week, the state of Florida is considering investing state pension funds into Bitcoin.

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The chief financial officer of Florida, Jimmy Padironis, I think is how you

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say it, he proposed considering Bitcoin as a diversification asset for public pension funds.

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And he's requesting a feasibility and risk report by March 2025.

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This is interesting. Just a quote. Recently, Governor DeSantis also leaned forward

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to protect the personal finances of Floridians from government overreach and

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woke corporate monitoring.

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And by signing legislation to fight back against the central bank digital currency, CBDC.

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So you're actually looking at this. The CBDC is a centralized currency,

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which is sort of the antithesis to what crypto or Bitcoin aims to be.

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So there's sort of a tinge of some political rhetoric in that comment there.

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So before we get to the Bitcoin part, God, it's so torturous.

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Can you believe this guy gets paid unbelievable sums of money?

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I mean, and Joe's the one I like. He's the one I like.

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We have this system here in the United States that is really fascinating where

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the states can kind of compete against each other on some of these things.

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And Florida is positioning itself as the anti-CBDC state from, like, the go.

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Before we even are seriously in the CBDC conversation, when we're still in the,

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quote, research phase, Florida is taking a very anti-CBDC play.

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And that anti-CBDC stance seems to be expanding into a pro-consumer crypto advocacy

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stance and then maybe a little bit more of an open mind towards Bitcoin as a

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diversification asset.

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And I don't think I don't think they're talking, you know, going all in.

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I think they're talking like percentages in the single digits.

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I think that the government's going to continue to print too much money.

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You think Bitcoin is a way for Floridians to maintain purchasing power.

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Thank you for making those points, because that's exactly where our head is

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on this. We look at the failed policies of Washington.

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You know, I hope President Trump is going to be able to turn around,

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but I don't think it's going to happen overnight.

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He's walking into a real mess. That's a great hedge, you know,

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because Trump promises he's going to fix everything.

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And so you're a pro-Trump state, you're a pro-Trump political person.

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So how do you say, well, we're still concerned about massive government debasement

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in CBDCs over the next few years, even if Trump wins? because it sounds like

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an anti-Trump statement in a way.

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But he's figured out a way to make it sound like, well, you know,

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even if Trump gets in and fixes everything, it's going to take a few years.

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You know, I hope, President Trump is going to be able to turn around,

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but I don't think it's going to happen overnight.

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He's walking into a real mess. But we need to be able to have a hedge against

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this massive overreach by the federal government with a centralized currency.

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Look, I don't want the federal government knowing when my son went to the grocery

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store to go buy a bag of Doritos at 2.15 in the afternoon.

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So we need to have some protections in place. And I think where we make it a

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welcome and interesting expansion of dialogues in Florida and maybe even a greater expansion.

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We have about $800 million in crypto-related investments in our state portfolio,

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but I would not be shocked to be

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able to see that growing under a Trump administration in the near future.

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So if states start buying, that's going to be massive.

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And they're not the only state. I think there's two or three others that we've

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covered before on the show that are looking into this.

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So you can understand why there's a bit of a froth growing and brewing,

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I guess, in these larger money bag buyers.

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And I think some would say 80,000 is, well, Trump change.

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Bitwise, which, and Bitwise knows their stuff. Bitwise, the CIO,

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sat down with Yahoo Finance this week.

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He's feeling more bullish than 80,000.

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I think the most important thing for Bitcoin is that the election happens.

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Regardless of a Trump win or a Harris win, the regulatory setting for Bitcoin is improving.

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And I think that's what you're seeing reflected in the price.

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Of course, in the short term, crypto favors a Trump victory over a Harris victory.

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But really, Bitcoin doesn't need Washington to succeed.

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Regardless of what happens, institutions are moving into the space.

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Adoption is rising. ETF flows are happening. I think we go higher either way.

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It just might be a little bit faster under a Trump win. Yeah.

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00:20:13,256 --> 00:20:17,516
And when we talk about that, maybe a clarity from a regulation perspective, right?

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How much of that is necessary in order to continue that momentum,

295
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even potentially past 100,000? Yeah, it's a great question.

296
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Look, I think we're going above 100,000 on Bitcoin.

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I think the regulatory clarity you're talking about actually matters more for

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the so-called altcoins, for Ethereum on down.

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Those are more exposed to regulatory risks. So I would expect an altcoin rally,

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even more so than a Bitcoin rally in the event of a Trump win.

301
00:20:42,956 --> 00:20:46,396
But regardless, I think both are moving higher. Why does it matter as much for Bitcoin?

302
00:20:46,988 --> 00:20:51,008
So Bitcoin has more regulatory clarity than Ethereum and other assets.

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The SEC, the CFTC have already declared it a commodity. It's in the clear. There's already an ETF.

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BlackRock already has a huge business in that. That's not as true for Solana

305
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and Aptos and other altcoins.

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00:21:03,088 --> 00:21:08,368
But I suspect if we get a new SEC, that will become clear, that will drive institutional

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adoption, and we'll see that rising tide lift all of those boats.

308
00:21:11,688 --> 00:21:15,468
What then do you think is the number one catalyst for Bitcoin as you look ahead

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00:21:15,468 --> 00:21:17,008
to some of your 2025 projections?

310
00:21:17,268 --> 00:21:22,128
Look, I think this is the best single time to invest in Bitcoin from a risk-adjusted perspective.

311
00:21:22,428 --> 00:21:27,488
All of the major existential risks of Bitcoin have been washed away. We have an ETF.

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We have institutions. They are coming into the space. The biggest catalyst is

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that move of institutional adoption. We're seeing that accelerate.

314
00:21:36,048 --> 00:21:40,048
We saw $800 million in ETF flows yesterday alone.

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This is a tidal wave of institutional assets moving into the space. There's a fixed supply.

316
00:21:45,488 --> 00:21:48,648
And from my perspective, that means higher prices. You were saying it doesn't

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00:21:48,648 --> 00:21:51,548
matter ultimately in the long run who is elected come next week.

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I'm curious, because there's been so much talk about why Trump is better for

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00:21:55,288 --> 00:21:57,788
Bitcoin or for the crypto community than Harris.

320
00:21:58,048 --> 00:22:00,008
It seems like at least in the short term, maybe that is the case.

321
00:22:00,188 --> 00:22:01,428
But why are you confident?

322
00:22:01,688 --> 00:22:05,188
I guess, why are you as concerned about the pullback that we could see if Harris is elected?

323
00:22:05,368 --> 00:22:08,248
Look, I think we could see a short term pullback. But in that case,

324
00:22:08,388 --> 00:22:11,068
I think it would be a major buying opportunity. That's right.

325
00:22:11,408 --> 00:22:16,448
Specifically for Bitcoin. For those altcoins, I think there's more regulatory uncertainty.

326
00:22:16,708 --> 00:22:19,968
But Harris has already indicated that we're likely to turn the page.

327
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And I think Washington is ready to turn the page on crypto.

328
00:22:23,068 --> 00:22:28,128
You see bipartisan support for crypto bills. You see talk about moving on from the SEC.

329
00:22:28,468 --> 00:22:33,148
Make no mistake, short term, the rally is higher on crypto if Trump wins.

330
00:22:33,268 --> 00:22:36,948
And I think it's more certain we'll get that regulatory clarity for the altcoins.

331
00:22:37,724 --> 00:22:41,904
Either case, I think the direction of travel is upwards. I think we'll be at

332
00:22:41,904 --> 00:22:43,884
new all-time highs this year on Bitcoin.

333
00:22:44,024 --> 00:22:47,224
And I think 2025 will look even better than 2024.

334
00:22:47,584 --> 00:22:50,604
What more specifically does that look like? Look, we're going to seven figure,

335
00:22:50,804 --> 00:22:54,424
I mean, six figure Bitcoin. We're going to $100,000 plus next year.

336
00:22:54,664 --> 00:22:59,364
We're working on our price target for $100,000 plus next year, he says.

337
00:22:59,544 --> 00:23:03,004
We're going to seven figure, I mean, six figure Bitcoin. We're going to $100,000

338
00:23:03,004 --> 00:23:07,404
plus next year. We're working on our price target for what we expect in 2025.

339
00:23:07,404 --> 00:23:09,424
We may release that next week.

340
00:23:09,464 --> 00:23:14,724
But if you step back and look at it, crypto has moved from the niche to the mainstream.

341
00:23:14,984 --> 00:23:18,964
You have Emory University allocating. You have 60% of the largest hedge funds

342
00:23:18,964 --> 00:23:21,124
allocating. We've jumped the chasm.

343
00:23:21,344 --> 00:23:23,944
We're going mainstream. And that means higher prices.

344
00:23:24,364 --> 00:23:27,384
I think that's exactly my analysis as well.

345
00:23:27,904 --> 00:23:32,484
And probably yours if you're listening to this podcast. So I think we have to

346
00:23:32,484 --> 00:23:36,204
remember, in the wise words of Matt O'Dell, stay humble and stack sats.

347
00:23:36,584 --> 00:23:39,604
Things are really lining up for Bitcoin, and that feels great.

348
00:23:39,924 --> 00:23:43,244
And it's obvious that big money sees it clearly now.

349
00:23:43,684 --> 00:23:48,464
We all can see the wave that is building. When you combine the scarcity and

350
00:23:48,464 --> 00:23:53,164
the demand with the debasement, it's going to be one of the greatest stories of our lifetime.

351
00:23:53,864 --> 00:23:58,604
But yet, and we all know this inherently, anybody that's in the community,

352
00:23:58,724 --> 00:24:00,724
and you can see it with the Google search traffic.

353
00:24:01,304 --> 00:24:03,464
Your average no-coin-er Joe.

354
00:24:05,047 --> 00:24:08,347
Totally, totally missing it. They haven't clued in yet.

355
00:24:08,887 --> 00:24:12,887
Not only can they not see a wave building, they don't even think there's a beach.

356
00:24:13,387 --> 00:24:17,727
So I think as Bitcoiners, this is an opportunity for us to learn and be humble here.

357
00:24:18,187 --> 00:24:21,387
Because A, we can learn how this works.

358
00:24:22,107 --> 00:24:27,127
We are watching history. We're watching how Wall Street typically is so successful

359
00:24:27,127 --> 00:24:28,447
at front-running the masses.

360
00:24:28,807 --> 00:24:33,427
Before they even know it's a thing, Wall Street has gobbled up the majority

361
00:24:33,427 --> 00:24:35,107
of the supply that's cheap.

362
00:24:35,687 --> 00:24:39,267
They build products on top of it. They get rich.

363
00:24:39,447 --> 00:24:43,467
And then they start packaging it in the plebs retirement and whatnot.

364
00:24:43,947 --> 00:24:45,407
They don't even realize it's happening.

365
00:24:46,067 --> 00:24:51,807
And we should have the humility to recognize this has probably happened to us.

366
00:24:52,307 --> 00:24:56,227
This probably happens all the time in all kinds of sectors. Now,

367
00:24:56,287 --> 00:24:57,407
this is a special case here.

368
00:24:57,927 --> 00:25:02,327
But I think we should get humility in the fact that this has probably happened to us in our lifetime.

369
00:25:03,027 --> 00:25:05,707
And it will probably happen to us again. There's going to be something big,

370
00:25:05,847 --> 00:25:08,207
a big wave building in an area, in a sector we don't follow.

371
00:25:08,987 --> 00:25:13,227
And we're going to miss it. So we need to take that into consideration, I think.

372
00:25:13,287 --> 00:25:17,727
And we should try to get some humility when the price does skyrocket. I mean, it's still fun.

373
00:25:18,607 --> 00:25:26,027
But it's also, I feel bad for those that were too distracted by all of the negative

374
00:25:26,027 --> 00:25:30,387
press that Bitcoin's gotten for the last decade, and just the busyness of life.

375
00:25:30,947 --> 00:25:33,767
You know, people are just so busy with everyday life now.

376
00:25:34,167 --> 00:25:37,807
They don't have an opportunity to stop and research something for 20,

377
00:25:37,887 --> 00:25:41,227
30 hours or listen to a podcast every week. You can try. Yeah.

378
00:25:42,136 --> 00:25:45,816
I understand. It probably happens to all of us. And we just happen to be watching

379
00:25:45,816 --> 00:25:47,096
this wave build and be clued in.

380
00:25:48,216 --> 00:25:52,536
And on that theme, boost in and share your pain. I would love to hear a couple

381
00:25:52,536 --> 00:25:56,196
of failed orange pilling stories, because I sure have my share of them.

382
00:25:56,456 --> 00:25:57,716
Maybe I'll share a couple, too.

383
00:25:58,096 --> 00:26:01,856
And if you have a recent success, you know, you talk to somebody about Bitcoin

384
00:26:01,856 --> 00:26:05,116
and it actually went well, yeah, I'd love to hear that, too.

385
00:26:05,356 --> 00:26:08,136
Does that happen? I don't know if that actually happens.

386
00:26:08,716 --> 00:26:12,416
But I would love to know. So boost in and tell me if you've had a successful

387
00:26:12,416 --> 00:26:14,256
orange pilling or an unsuccessful orange pilling.

388
00:26:14,616 --> 00:26:16,736
Share your pain or your success with the class, please.

389
00:26:17,360 --> 00:26:24,080
Music.

390
00:26:23,796 --> 00:26:27,956
All right, coming up, your boost. My thoughts on a wild new fake Toshi that

391
00:26:27,956 --> 00:26:29,096
popped on the scene today.

392
00:26:29,796 --> 00:26:32,616
A few updates and a final clip of the week.

393
00:26:33,216 --> 00:26:38,216
Plus, stay to the network. But first, if you'd like to support the show by acquiring

394
00:26:38,216 --> 00:26:42,276
sats or sending, spending, whatever, I got ways you can help out.

395
00:26:42,456 --> 00:26:45,016
Me and you. It's nice. There's two of them.

396
00:26:45,536 --> 00:26:48,696
River. I'll have links in the show notes. River, it's a great place to get your

397
00:26:48,696 --> 00:26:51,876
sats. They're on the Lightning Network. They run their own network.

398
00:26:52,036 --> 00:26:53,116
They're a Bitcoin-only company.

399
00:26:54,556 --> 00:26:58,136
Beautiful UI. And the reason why I mention Lightning Network is because it gives

400
00:26:58,136 --> 00:27:00,116
you a little privacy after you've DCA'd for a bit.

401
00:27:00,436 --> 00:27:03,716
And you have some optionality there. It's nice. It gives you some flexibility.

402
00:27:03,716 --> 00:27:04,956
Of course, you can do on-chain as well.

403
00:27:05,456 --> 00:27:08,336
I have an affiliate link in the show notes. You use that. You get some sats.

404
00:27:08,396 --> 00:27:11,416
I get some sats. Same with the Bitcoin company. You want to spend some sats,

405
00:27:11,496 --> 00:27:12,796
put in a gift card or something like that.

406
00:27:13,136 --> 00:27:16,236
It's a quick way to go from lightning sats, boom, right into a gift card and.

407
00:27:16,236 --> 00:27:19,636
Make your purchase, like on Amazon or whatever it might be. Hundreds of gift cards.

408
00:27:20,596 --> 00:27:24,416
Thebitcoincompany.com, promo code Jupiter. You get some sats, the show gets some sats.

409
00:27:24,656 --> 00:27:26,516
Put it all in the fun for the show, and I really appreciate it.

410
00:27:26,576 --> 00:27:29,396
It's a nice way to support the show while you're getting some sats or spending

411
00:27:29,396 --> 00:27:31,656
some sats. Links at the top of the show notes.

412
00:27:31,600 --> 00:27:42,160
Music.

413
00:27:42,064 --> 00:27:45,044
Do have some boost to get to this

414
00:27:45,044 --> 00:27:48,044
week and it looks like the podfather mr adam curry

415
00:27:48,044 --> 00:27:51,144
is our baller booster this week with 100 000

416
00:27:51,144 --> 00:28:00,724
sets he says.

417
00:27:52,240 --> 00:28:00,240
Music.

418
00:28:00,724 --> 00:28:04,824
It's a sad puppy boost i was i was really bummed you know because the show doesn't

419
00:28:04,824 --> 00:28:08,964
have a official sponsor and so when the boosts are down it's like oh man i i

420
00:28:08,964 --> 00:28:11,544
may have misallocated my time this week and i wasn't sure if i was going to

421
00:28:11,544 --> 00:28:14,724
be able to do a show this week at all because there's just crazy stuff going on.

422
00:28:15,104 --> 00:28:18,824
Lots of stuff going on just behind the scenes. And so, but you know,

423
00:28:18,884 --> 00:28:20,184
I saw a big baller boost like that.

424
00:28:20,304 --> 00:28:23,244
I was like, oh boy, better get my big boy pants on.

425
00:28:23,484 --> 00:28:25,624
Time to pick it up and do a show.

426
00:28:26,984 --> 00:28:30,184
Wine Eagles also are baller booster with a hundred thousand sats.

427
00:28:31,120 --> 00:28:37,680
Music.

428
00:28:37,584 --> 00:28:40,164
He says, I think he's trying to make good, you know, because he tried to call

429
00:28:40,164 --> 00:28:43,164
the podfather out over using Hive as the back end for podping.

430
00:28:43,264 --> 00:28:45,184
He says, it's not that podcasting to-do-do sucks.

431
00:28:45,764 --> 00:28:48,304
That's not my opinion at all. The podfather is the goat in the morning.

432
00:28:48,804 --> 00:28:51,084
I call out Hive out of love.

433
00:28:51,804 --> 00:28:55,404
Okay, well, here's what you do, Wine Eagle. You build an entire new system.

434
00:28:57,204 --> 00:29:00,264
I was trying to think after the show, like, what would you replace podping with?

435
00:29:00,704 --> 00:29:02,784
I mean, like, the back end. What would you, you know, Hive?

436
00:29:03,895 --> 00:29:06,115
And I feel like the first answer somebody would have would say Noster,

437
00:29:06,215 --> 00:29:07,495
but I don't think that would go over well.

438
00:29:09,575 --> 00:29:13,295
So I would love to know your thoughts on what we could use in its place.

439
00:29:13,395 --> 00:29:17,115
And please don't say Lightning or Noster, although I mean, I personally would

440
00:29:17,115 --> 00:29:18,935
be more amenable to Noster.

441
00:29:19,035 --> 00:29:21,375
I don't think most in the community would.

442
00:29:21,775 --> 00:29:24,155
But thank you very much, Wine Eagle, for the boost. Thank you,

443
00:29:24,215 --> 00:29:31,195
Podfather, also for the baller boost. And user 20497192 is almost our baller

444
00:29:31,195 --> 00:29:35,595
booster with a very generous 99,609 sets.

445
00:29:35,735 --> 00:29:38,215
I hoard that which your kind covet.

446
00:29:38,735 --> 00:29:41,155
I love in the stats at the end of the show. It's a great idea.

447
00:29:41,715 --> 00:29:45,715
Bitcoin is my exit strategy for retirement if I ever do retire.

448
00:29:45,895 --> 00:29:49,715
I put the balance of my legacy IRA savings into MSTR last year.

449
00:29:49,835 --> 00:29:52,035
So I'm like 100% Bitcoin now.

450
00:29:52,215 --> 00:29:55,795
My wife still thinks I'm crazy, but I stopped asking when I'm going to sell.

451
00:29:55,795 --> 00:29:56,895
But she has stopped asking.

452
00:29:57,475 --> 00:30:03,035
Man, you know, I have I really have had like a no stocks, no ETFs,

453
00:30:03,095 --> 00:30:05,475
just only Bitcoin policy for a very long time.

454
00:30:05,615 --> 00:30:13,095
But I do wonder if I, you know, is MSTR a shit coin or is it a good way to earn

455
00:30:13,095 --> 00:30:14,715
some money and then turn around and stack some Bitcoin?

456
00:30:15,495 --> 00:30:18,835
I'd love some people's opinions out there. Another great boost comes in from

457
00:30:18,835 --> 00:30:25,935
ByteBandit, which is also a very generous 97,757 sats.

458
00:30:26,115 --> 00:30:29,815
I hoard that which your kind cover. Coming in hot with the boost.

459
00:30:30,095 --> 00:30:32,755
Thank you, Byte. He writes, Hi, Chris, I just started the episode,

460
00:30:32,835 --> 00:30:35,555
but I forgot to boost last week, so I wanted to send some fire your way.

461
00:30:35,835 --> 00:30:38,275
I wanted to fire some value back your way. And then he says,

462
00:30:38,735 --> 00:30:40,395
and this is really sweet, he says, Screw it.

463
00:30:40,835 --> 00:30:44,895
Blowing the whole boost budget on Twib this week. Another newbie corner idea.

464
00:30:45,015 --> 00:30:47,575
What's the difference between different address and wallet types.

465
00:30:47,995 --> 00:30:51,195
You know, I scanned the boost trying to look for newbie questions and I somehow

466
00:30:51,195 --> 00:30:54,615
missed this. So I didn't make a segment on this, but I will bank this.

467
00:30:56,117 --> 00:30:59,477
Yeah, because it does become important if you ever need to restore your wallet.

468
00:31:00,057 --> 00:31:02,757
And so that's where those kinds of little things, like if you have a seed word,

469
00:31:02,857 --> 00:31:04,457
you need to know some of the details about the wallet.

470
00:31:04,637 --> 00:31:09,657
So, okay, I will try to do like a boot camp on that in a future episode. Writing that down.

471
00:31:10,557 --> 00:31:13,957
Wallet boot camp. Okay, I got it written down. Thank you. Appreciate it.

472
00:31:14,337 --> 00:31:16,997
You're the best, Byte Bandit. Boost because it's Wednesday also.

473
00:31:17,117 --> 00:31:21,397
Oh, and there's an extra little 5,000 you snuck in there, you crazy maniac. Thank you.

474
00:31:22,057 --> 00:31:27,257
Appreciate that. Bitcoin Lizard comes in with a handsome 50,000 boost,

475
00:31:27,417 --> 00:31:30,137
50,000 boost, 50,000 sats.

476
00:31:30,317 --> 00:31:33,177
Make it so. Yeah. And you know what? You're doing a good job.

477
00:31:33,697 --> 00:31:36,557
Right. It's a great episode. I really enjoyed how you used older audio clips

478
00:31:36,557 --> 00:31:39,517
to show how Saylor and the ECB are now contradicting themselves.

479
00:31:39,957 --> 00:31:42,577
I love the Lagarde clip where she says the quiet part out loud,

480
00:31:42,717 --> 00:31:46,257
quote, if there is an escape, that escape will be used.

481
00:31:46,457 --> 00:31:48,897
Yep. That was my favorite part of that clip, too.

482
00:31:49,517 --> 00:31:52,817
Every now and then, they just say it. Usually it's in a written form.

483
00:31:53,497 --> 00:31:58,897
But, you know, when you're in a Zoom call, I guess, and you're laying down all

484
00:31:58,897 --> 00:32:01,257
the typical tropes, that one slips out every now and then.

485
00:32:02,717 --> 00:32:06,437
That was a good one. Thank you, Bitcoin Lizard. Grekar boosts in with 40,000

486
00:32:06,437 --> 00:32:09,417
sats. The traders love the vol. And he says boost.

487
00:32:09,597 --> 00:32:13,177
So you know what I say? I say boost. Thank you for the value.

488
00:32:14,037 --> 00:32:16,737
Is it Dr. Eckhart? That's what it is. It's doctor. Thank you,

489
00:32:16,817 --> 00:32:18,917
doctor. Appreciate the value there.

490
00:32:19,737 --> 00:32:24,797
Bitcoin E97 comes in with, I love that, with 25,000 cents. Fun will now commence.

491
00:32:25,097 --> 00:32:27,997
How come my earlier boost bounced back, but the comments stayed up?

492
00:32:28,177 --> 00:32:32,757
You know, so the way it works, Bitcoin E97, is there's splits in there,

493
00:32:32,797 --> 00:32:37,877
and each split goes to, like, one goes to me, one goes to the node, one goes to Fountain.

494
00:32:38,377 --> 00:32:42,677
Sometimes I slip in, like, a couple of other, like, Bitcoin news outlets or

495
00:32:42,677 --> 00:32:46,277
something like that in there. And so it's possible for one of those splits to

496
00:32:46,277 --> 00:32:50,877
fail, but one of my nodes got it. And the really awesome...

497
00:32:51,976 --> 00:32:57,036
Boost, I don't want to call it a scraper system, but it's like a boost monitoring

498
00:32:57,036 --> 00:33:01,156
system that Wes has developed that it monitors multiple nodes now.

499
00:33:01,296 --> 00:33:03,956
So if your boost makes it to one of our nodes in theory, we'll get it.

500
00:33:04,156 --> 00:33:07,116
Even if, say, like my, even if my split didn't go through for some reason.

501
00:33:07,336 --> 00:33:09,216
So you may have seen like a partial failure there.

502
00:33:09,676 --> 00:33:12,236
In that case, don't worry, your sats aren't lost. They stay in your wallet.

503
00:33:12,636 --> 00:33:15,396
Only the successful splits actually will take the sats.

504
00:33:15,976 --> 00:33:19,676
So you're okay. I don't mean to scare you on that. Bob B comes in.

505
00:33:19,756 --> 00:33:21,096
Hey, Bob, with 20,000 sats.

506
00:33:21,976 --> 00:33:25,196
That's not possible. Nothing can do that. Oh, it's Bobby Gant.

507
00:33:25,336 --> 00:33:28,236
Hey, Chris. Finally biting the bullet and streaming stats as I listen.

508
00:33:28,476 --> 00:33:32,016
I tried Fountain, but it wouldn't work with the private RSS feeds for your shows,

509
00:33:32,056 --> 00:33:33,156
so now I'm trying Podverse.

510
00:33:35,476 --> 00:33:39,196
Yes. Private feeds and podcasting 2.0 are a tricky thing.

511
00:33:39,676 --> 00:33:42,176
None of it was really kind of designed with the idea of people who put stuff

512
00:33:42,176 --> 00:33:45,196
behind a paywall, because it's not really the way it works with value for value.

513
00:33:45,356 --> 00:33:46,696
But we have a legacy system.

514
00:33:47,016 --> 00:33:48,796
There's a fiat wall there. You know, all of that.

515
00:33:49,456 --> 00:33:55,176
So Fountain looks up the information for boosts and the splits via the podcast index API.

516
00:33:55,376 --> 00:33:58,836
But because the member feeds are private and individual RSS feeds,

517
00:33:58,956 --> 00:34:00,036
they're not published on the index.

518
00:34:00,276 --> 00:34:02,496
So Fountain is unable to look up the splits.

519
00:34:03,156 --> 00:34:07,296
Podverse takes it directly from the RSS feed. We publish it in the RSS feed,

520
00:34:07,316 --> 00:34:09,136
but Fountain does not look there.

521
00:34:09,556 --> 00:34:12,476
Some podcast players do. It's kind of up to the client how they do that.

522
00:34:13,136 --> 00:34:16,656
He says, the only reason I am into Bitcoin now is because you talked about lightning

523
00:34:16,656 --> 00:34:19,436
boost way back in an old Office Hours episode.

524
00:34:19,816 --> 00:34:24,436
The notion of paying as you listen with streaming sats, to me,

525
00:34:24,636 --> 00:34:28,496
is as close to perfect as you can get for patronage of something you value.

526
00:34:28,756 --> 00:34:32,216
I wish more people could see that light. I'll boost when I have something to

527
00:34:32,216 --> 00:34:34,896
say, but I'll be streaming sats from now on to keep the flow regular.

528
00:34:35,096 --> 00:34:36,216
Thanks for doing what you do.

529
00:34:36,496 --> 00:34:39,116
Bob, thank you. Thank you for the boost.

530
00:34:39,576 --> 00:34:43,556
And thank you very much for streaming the sats. I try to call out the sat streamers

531
00:34:43,556 --> 00:34:47,136
and really appreciate you out there. It's good to hear from you, too.

532
00:34:48,036 --> 00:34:51,596
Zach Hillies comes in with 20,000 sats. You suppose?

533
00:34:52,176 --> 00:34:55,116
That's not a Jar Jar boost. Who's the soundboard guy around here?

534
00:34:55,436 --> 00:34:59,676
Sometimes my genius is, it's almost frightening. Doesn't Clarkson have anything better to do?

535
00:35:00,196 --> 00:35:04,056
He writes, Zach Hillies writes, I might be in the minority, but I don't mind

536
00:35:04,056 --> 00:35:04,996
the politics in the show.

537
00:35:05,156 --> 00:35:09,276
I sometimes think of This Week in Bitcoin as unfiltered 2.0,

538
00:35:09,456 --> 00:35:11,936
where current events are now viewed through a Bitcoin lens.

539
00:35:12,096 --> 00:35:16,416
The Bitcoin world has helped me understand economics more than I could ever have hoped.

540
00:35:16,616 --> 00:35:19,076
So he says, show me the money. That'd be a great clip. Show me the money.

541
00:35:19,396 --> 00:35:22,236
How do I not have that on the soundboard? Oh, my God.

542
00:35:23,476 --> 00:35:29,676
Zach, what you say here, I think, is a astute analysis. Unfilter is an old news

543
00:35:29,676 --> 00:35:31,356
politics podcast that I did.

544
00:35:32,883 --> 00:35:38,243
There was a missing piece. So when you start to understand a lot of the financial

545
00:35:38,243 --> 00:35:43,583
system and the situation the government is in, you start to understand the gaslighting.

546
00:35:43,663 --> 00:35:46,683
You start to understand why they skew the numbers the way they do.

547
00:35:46,903 --> 00:35:50,663
And it explains so much of what Unfilter used to talk about.

548
00:35:51,203 --> 00:35:56,443
But now it explains it through a lens that isn't political or anything like

549
00:35:56,443 --> 00:35:58,603
that. But just these are the facts. These are the numbers.

550
00:35:58,723 --> 00:36:02,403
This is what the finances are. And so much is downstream of that in our society.

551
00:36:02,883 --> 00:36:08,523
And once you understand that, it really is one, I think, the key things to watch

552
00:36:08,523 --> 00:36:11,723
in a society, especially one as big as the states that impacts everybody else

553
00:36:11,723 --> 00:36:13,883
in the West. Appreciate that, Boosak.

554
00:36:14,623 --> 00:36:18,543
Oppie, 1984, is in with 4,000 sats. Tough little ship.

555
00:36:19,243 --> 00:36:22,443
Little. And he says, boost! Boost!

556
00:36:22,743 --> 00:36:27,083
Ace Ackerman's in with our first row of ducks this week, 2,222 sats.

557
00:36:28,083 --> 00:36:32,123
I like the multi-sig vault systems. They could be used in setups for an individual,

558
00:36:32,363 --> 00:36:33,583
family, or organization.

559
00:36:34,103 --> 00:36:37,883
I agree, Ace. I think I've been rolling over, you know, my future,

560
00:36:37,883 --> 00:36:41,523
like, kid setups, and I could see multisig there working pretty well,

561
00:36:42,063 --> 00:36:43,943
you know, maybe until they're 18. I don't know.

562
00:36:44,023 --> 00:36:50,623
I think also apps like Nunchuck have a lot of potential for making it palatable for everyday users.

563
00:36:50,823 --> 00:36:54,623
And things like the BitKey kind of give you multisig in a consumer package,

564
00:36:54,683 --> 00:36:57,583
although it does involve a cloud server, but they seem to have a pretty good setup there.

565
00:36:57,583 --> 00:37:02,063
So if anybody has recommendations on solid multi-sig that they sleep well at

566
00:37:02,063 --> 00:37:06,223
night with sure would love to hear it because I'm kind of evaluating what the

567
00:37:06,223 --> 00:37:07,943
family solution is as the kids get older,

568
00:37:08,923 --> 00:37:13,823
and right now I'm not sure if I'm feeling it I'm not sure if I'm feeling my

569
00:37:13,823 --> 00:37:18,723
solution I have a kind of half multi-sig solution in place I'll say.

570
00:37:19,203 --> 00:37:25,363
Dexord comes in with 11,101 sats I am your father I don't know if the number

571
00:37:25,363 --> 00:37:28,863
of listeners has changed from what you can see, but I know personally I have

572
00:37:28,863 --> 00:37:32,243
been finding myself one episode behind and then I don't boost because it feels

573
00:37:32,243 --> 00:37:33,203
like I'm late to the party.

574
00:37:33,523 --> 00:37:36,843
But that's on me and I love the longer episodes and I definitely want to keep

575
00:37:36,843 --> 00:37:40,083
you motivated and I want you to keep going because the information you present

576
00:37:40,083 --> 00:37:43,783
in this podcast has been helpful and important. Cheers. Well, cheers to you!

577
00:37:44,583 --> 00:37:48,883
Thank you. I appreciate that feedback and value, particularly about the episode length.

578
00:37:48,903 --> 00:37:52,923
I am always soliciting the, God, I am having a hard time talking today.

579
00:37:53,063 --> 00:37:54,663
It's been a wild week behind the scenes.

580
00:37:55,749 --> 00:37:59,289
I am always soliciting the audience's feedback on the length of the episode

581
00:37:59,289 --> 00:38:04,289
because they could be two hours or I could really crunch it down and it could be 30 minutes.

582
00:38:04,469 --> 00:38:07,049
And I'm kind of striking a balance in between there right now,

583
00:38:07,149 --> 00:38:08,549
but I always appreciate the feedback on that.

584
00:38:08,849 --> 00:38:12,469
And it's good to hear from you, Dex. Never feel bad about being behind.

585
00:38:13,629 --> 00:38:17,269
I consider once I put a question out there, I consider it fair game for weeks

586
00:38:17,269 --> 00:38:21,269
because we can keep the conversation going. It evolves and other people jump in.

587
00:38:21,429 --> 00:38:25,449
So I appreciate it if you're listening and you're a couple weeks behind.

588
00:38:25,749 --> 00:38:29,649
And I asked a question out there, don't feel bad at all about being three episodes

589
00:38:29,649 --> 00:38:32,429
behind and finally boosting it. I love it when the conversation rolls on like that.

590
00:38:33,009 --> 00:38:37,469
Epic Journey comes in with 5,000 sats. Now that is a Jar Jar boost.

591
00:38:37,569 --> 00:38:40,049
You so boost. He just says, thanks for the show.

592
00:38:41,189 --> 00:38:44,989
Thanks, Epic. I appreciate it. Loomer also came in with a 5,000-sat Jar Jar

593
00:38:44,989 --> 00:38:47,469
boost. You so boost. And he just says, boost.

594
00:38:47,949 --> 00:38:54,009
And he's here with 2,000 sats. And he says, hi, two years ago since my orange

595
00:38:54,009 --> 00:38:55,389
pill. Ah, love the content.

596
00:38:55,749 --> 00:38:58,489
Have you listened to any of the presentations from DEFCON 32?

597
00:38:58,929 --> 00:39:03,809
There is a presenter named Joseph Cross who speaks about the FBI's encrypted

598
00:39:03,809 --> 00:39:05,569
phone company named Anom.

599
00:39:06,069 --> 00:39:08,949
They sell these phones to drug dealers.

600
00:39:09,109 --> 00:39:13,329
What I thought was interesting was that he mentions that a lot of large transactions

601
00:39:13,329 --> 00:39:14,329
were being made in Bitcoin.

602
00:39:14,669 --> 00:39:17,949
Is there any way to confirm that? Do we really know the amount of transactions

603
00:39:17,949 --> 00:39:22,129
being made for illegal activity, especially when the FBI is probably the only ones with this data?

604
00:39:22,289 --> 00:39:24,849
And don't disclose it because of current laws? Thanks, Andy.

605
00:39:25,749 --> 00:39:29,129
Great question, Andy. Two episodes ago, I did get into some stats.

606
00:39:30,229 --> 00:39:36,049
Most at volume, most of the kind of illicit activity, if you think about it, this makes total sense.

607
00:39:36,609 --> 00:39:39,769
Most of the illicit activity that's done with cryptocurrency is done with stable coins.

608
00:39:40,940 --> 00:39:44,840
Because A, people don't want the value of whatever they've stolen to drop.

609
00:39:44,960 --> 00:39:48,600
And B, the blockchain for Bitcoin is fully open and transparent.

610
00:39:48,960 --> 00:39:50,300
But it's all relative, right?

611
00:39:51,080 --> 00:39:56,880
If they're doing $30 million of transactions, that could seem like a lot to

612
00:39:56,880 --> 00:39:59,600
Joseph Cross, right? But it doesn't seem like a lot to Michael Saylor.

613
00:39:59,740 --> 00:40:00,800
So it's all kind of relative there.

614
00:40:00,960 --> 00:40:04,180
Your question about the video, I did catch it.

615
00:40:04,280 --> 00:40:07,360
I tried to find the link. I could not find the link quickly before I sat down

616
00:40:07,360 --> 00:40:12,060
to record. But I want to just strongly recommend that if you are into phone

617
00:40:12,060 --> 00:40:15,100
privacy and security, this is worth a watch.

618
00:40:15,520 --> 00:40:18,400
And I'd be curious for any of you GrapheneOS users out there,

619
00:40:18,420 --> 00:40:23,120
if you think they're basing this little honeypot phone system on GrapheneOS.

620
00:40:23,300 --> 00:40:27,080
Because I saw a couple of the config options that Joseph Cross demonstrates

621
00:40:27,080 --> 00:40:30,380
on the screen, and it looked like GrapheneOS to me.

622
00:40:30,380 --> 00:40:35,780
And I think the FBI is forking Graphene OS and then they're pretending to sell

623
00:40:35,780 --> 00:40:41,000
it as like this super privacy focused phone that has private encrypted chat

624
00:40:41,000 --> 00:40:44,720
and it scrambles your pin code on the screen and does all these things.

625
00:40:45,080 --> 00:40:49,980
And the reality was is that the FBI was totally honeypotting and rooting these

626
00:40:49,980 --> 00:40:52,480
devices and then also the quote unquote secure chat.

627
00:40:52,480 --> 00:40:57,360
It was an XMPP server they set up, and then they have a bot listening in a different

628
00:40:57,360 --> 00:41:00,720
country. I think it was Lithuania, where they don't have to worry about the laws as much.

629
00:41:00,900 --> 00:41:04,740
They have a bot join every single private chat. Every chat session has a hidden

630
00:41:04,740 --> 00:41:08,740
FBI bot in it, listening and recording everything you say outside the United

631
00:41:08,740 --> 00:41:10,620
States in this database.

632
00:41:11,160 --> 00:41:14,620
And they were going around and selling it to drug dealers and other criminals,

633
00:41:14,920 --> 00:41:19,140
making them believe that they were getting this super secure anonymous phone.

634
00:41:20,064 --> 00:41:23,864
When in reality, it was a whole FBI job from the beginning. Fascinating talk.

635
00:41:23,984 --> 00:41:25,404
Joseph Cross, DEFCON 32.

636
00:41:25,724 --> 00:41:31,084
I think if you YouTube that, you'll probably find it. I'll just co-sign Andy's recommendation.

637
00:41:31,444 --> 00:41:35,584
If you're into phone security, it's a wild one. And you realize just how in

638
00:41:35,584 --> 00:41:38,704
the game the FBI is with all of this. It's no joke.

639
00:41:38,964 --> 00:41:42,344
Speaking of no joke, Bitcoin Realist comes in with 2,000 sats.

640
00:41:43,164 --> 00:41:46,164
You know, that holiday special idea sounds good. And by the way,

641
00:41:46,204 --> 00:41:49,984
I liked your Linux episode that had producer Jeff on there featuring your AI

642
00:41:49,984 --> 00:41:51,924
voice. Yeah, I got cloned by Google.

643
00:41:52,804 --> 00:41:57,024
I got cloned by Google and A, they won't let me have it.

644
00:41:57,124 --> 00:42:00,344
I can't get access to it. And B, where's my check? Where's my check?

645
00:42:00,484 --> 00:42:01,344
That's what I want to know.

646
00:42:01,844 --> 00:42:05,484
There he is. Gene Bean's back with 2048 Sats.

647
00:42:06,064 --> 00:42:09,864
There's coffee in that nebula. Still loving the show, but I'm just not boosting

648
00:42:09,864 --> 00:42:13,804
as much due to other expenses. Keep up the good work. Gene Bean, I am not kidding you.

649
00:42:14,324 --> 00:42:17,704
We have had conversations behind the scenes wondering if you're okay.

650
00:42:18,484 --> 00:42:21,204
We've been thinking about putting a—I'm not joking. We've been thinking about

651
00:42:21,204 --> 00:42:24,244
saying something on air to put a wellness check out on you, to have you,

652
00:42:24,244 --> 00:42:27,584
like, boost in with, like, holding the newspaper with the current day on there,

653
00:42:27,664 --> 00:42:28,584
something to make sure you're okay.

654
00:42:28,684 --> 00:42:32,504
Because, you know, when somebody's really active in the community and they drop off, we notice.

655
00:42:33,064 --> 00:42:34,904
And it's really nice to hear from you. I'm glad you're okay.

656
00:42:35,344 --> 00:42:38,804
I'll let Wes and Brent know. They were also concerned. It's good to hear from

657
00:42:38,804 --> 00:42:39,904
you. Thank you for the boost.

658
00:42:40,464 --> 00:42:45,104
Hodler comes in with 4,747 sats, and I'm feeling like a sailor.

659
00:42:45,184 --> 00:42:47,784
The traders love the vol. Small boost from Iceland.

660
00:42:48,044 --> 00:42:51,504
Thank you for the great episode. I heard from a friend in Denmark that the government

661
00:42:51,504 --> 00:42:57,104
is planning on implementing a 42% tax on unrealized capital gains for Bitcoin in 2026.

662
00:42:57,984 --> 00:43:00,664
This would make it really hard to hodl. Thoughts?

663
00:43:01,601 --> 00:43:07,401
First of all, it's not hodl, it's hard, right? Well, I suppose if it's unrealized, hmm, oh boy.

664
00:43:07,781 --> 00:43:14,121
I would wonder if this would be a situation where things like ETF products or

665
00:43:14,121 --> 00:43:18,001
stock that is a company hodling Bitcoin,

666
00:43:18,541 --> 00:43:23,221
would be a way to get Bitcoin price exposure without this particular problem.

667
00:43:23,301 --> 00:43:25,721
Because when it's unrealized, I was going to say you could hold and just wait

668
00:43:25,721 --> 00:43:26,961
to sell when the laws change.

669
00:43:27,341 --> 00:43:31,101
But if they're doing an unrealized, I just can't imagine that'll last.

670
00:43:31,101 --> 00:43:32,801
That just crushes an economy.

671
00:43:33,221 --> 00:43:36,441
It's death for an economy when you do that. It's death for a small business.

672
00:43:37,001 --> 00:43:40,761
So I wouldn't imagine it lasts long. But if anybody knows or hodler, if you do any research,

673
00:43:41,061 --> 00:43:46,501
I guess my question back to you would be, do things like ETFs or companies that

674
00:43:46,501 --> 00:43:50,621
have stock exposure with price action related to Bitcoin, is that something

675
00:43:50,621 --> 00:43:53,801
you could hold that wouldn't be considered an asset so it doesn't have an unrealized gain?

676
00:43:54,681 --> 00:43:58,201
I don't know. That's a tricky situation. Those unrealized gains,

677
00:43:58,361 --> 00:44:03,521
you know, I have to wonder for some of us if the Bitcoin doesn't come before state.

678
00:44:04,201 --> 00:44:08,161
You know, if I was banking on a Bitcoin retirement, well, I am,

679
00:44:08,281 --> 00:44:12,821
and I got to that point and I was successful in my stacking and I actually had

680
00:44:12,821 --> 00:44:15,321
enough to live and continue to do the show probably,

681
00:44:15,621 --> 00:44:20,641
I would be crushed by an unrealized gain tax and I would probably want to leave the country somehow.

682
00:44:21,081 --> 00:44:23,381
Of course, there's an exit tax and you got to do all that or else they'll get

683
00:44:23,381 --> 00:44:26,341
you too. So you got, you know, you got to vote.

684
00:44:26,781 --> 00:44:29,641
Vote harder, everybody. Just vote harder. That'll solve it. All right.

685
00:44:29,761 --> 00:44:30,721
Well, thank you, everybody.

686
00:44:30,961 --> 00:44:34,081
There is a few more boosts in there, but they were below the 2000 cutoff.

687
00:44:34,161 --> 00:44:36,201
But I see them. I read them and I'll save them in my show notes.

688
00:44:36,481 --> 00:44:39,801
Some of them are just people passing along, you know, best wishes and a high five.

689
00:44:40,644 --> 00:44:43,624
Or thanking me for something or other. And I just really appreciate everybody

690
00:44:43,624 --> 00:44:47,924
who boosts in or streams. We had 47 of your stream sats as you listened.

691
00:44:48,404 --> 00:44:55,284
That number is getting higher there. That's really awesome. And the streamers stacked 94,223 sats.

692
00:44:55,444 --> 00:44:59,564
So when you combine that with all of the boosts, we actually had a really fantastic week.

693
00:44:59,584 --> 00:45:05,424
And we stacked a grand total of 687,787 sats.

694
00:45:13,344 --> 00:45:19,024
Thank you, everyone. That really got me going. I had really a crazy week.

695
00:45:19,184 --> 00:45:21,804
I was feeling kind of down because the value was pretty low last week.

696
00:45:21,924 --> 00:45:25,464
And when I saw that stuff rolling in, that's why this episode's here.

697
00:45:25,624 --> 00:45:26,924
I was going to take the week off.

698
00:45:27,264 --> 00:45:30,644
I figured people are sick of the election stuff. They don't want to hear it.

699
00:45:30,744 --> 00:45:32,504
And I paid for it now in Boost.

700
00:45:32,664 --> 00:45:36,844
And it feels like the signal has been strong this week. And I appreciate that.

701
00:45:36,964 --> 00:45:40,024
I'd love to have you boost in. if there's something I touched on this week that

702
00:45:40,024 --> 00:45:43,304
you'd like to get your take on. We still have more show to go.

703
00:45:43,564 --> 00:45:47,184
So before we move on and get to the rest of the show, just really briefly,

704
00:45:47,184 --> 00:45:49,484
I'd like to say, if you want to boost it and you haven't done it yet,

705
00:45:49,984 --> 00:45:51,084
it's a great time to do it.

706
00:45:51,684 --> 00:45:56,324
This is a mechanism for you to just start to learn and understand Bitcoin a little bit.

707
00:45:56,784 --> 00:46:00,564
Take this as an opportunity to just get a little bit of exposure to the network

708
00:46:00,564 --> 00:46:04,464
and start to just get exposure to the terminology, how it works.

709
00:46:04,624 --> 00:46:07,584
It can be extremely beneficial to you down the road. Maybe it's something you

710
00:46:07,584 --> 00:46:10,544
decide it's not for you, or maybe it's something you decide,

711
00:46:10,684 --> 00:46:13,464
you know what, I'm going to start allocating a percentage to this every single month.

712
00:46:14,024 --> 00:46:18,664
I can't say which one it's going to be, but I think it's worth at least participating

713
00:46:18,664 --> 00:46:21,224
in the value for value boost system because you can get a message into the show,

714
00:46:21,304 --> 00:46:24,344
you support the show, and you get exposure to things like lightning,

715
00:46:24,744 --> 00:46:26,044
the terminology and all of that.

716
00:46:26,344 --> 00:46:29,404
So I know most of you are already converted, but if somebody out there hasn't

717
00:46:29,404 --> 00:46:31,484
tried it yet, this is the opportunity. This is the time to try it.

718
00:46:31,844 --> 00:46:34,504
And, you know, maybe you end up getting into it right before the price just

719
00:46:34,504 --> 00:46:39,684
goes crazy. But thank you, everybody who boosts or supports the show with one of our affiliate links.

720
00:46:39,904 --> 00:46:42,184
It means the world. Thank you.

721
00:46:42,800 --> 00:46:52,880
Music.

722
00:46:53,085 --> 00:46:58,165
A new fake Toshi this week. I don't think I need to spend a lot of time on this,

723
00:46:58,905 --> 00:47:01,785
but a guy named, like, Stefan Mohala.

724
00:47:03,465 --> 00:47:07,045
He's been facing fraud charges, I think related to his claims of being Satoshi

725
00:47:07,045 --> 00:47:11,645
Nakamoto, and so today, he attempted to assert his identity as the creator of

726
00:47:11,645 --> 00:47:18,345
Bitcoin during a long, awkward, torturous press conference in London.

727
00:47:18,745 --> 00:47:21,925
On October 31st, the anniversary of the Bitcoin white paper,

728
00:47:21,925 --> 00:47:27,345
he declared himself to be satoshi and then while he was at it he also claimed

729
00:47:27,345 --> 00:47:33,405
to have invented the euro bond the twitter logo and the quote chat gpt protocol

730
00:47:33,405 --> 00:47:35,825
so we got ourselves a wild one here folks,

731
00:47:36,365 --> 00:47:39,205
and i'm not going to play a lot from this because it was

732
00:47:39,205 --> 00:47:42,365
torturous this press conference but i'm

733
00:47:42,365 --> 00:47:45,505
going to play a minute of or so of it because someone asked

734
00:47:45,505 --> 00:47:50,305
him well so then where does craig right the previous fake toshi fit into all

735
00:47:50,305 --> 00:47:55,105
of this what was what what was he and why didn't you say anything all of this

736
00:47:55,105 --> 00:47:58,665
time if craig wright wasn't actually satoshi why didn't you say something well

737
00:47:58,665 --> 00:48:05,185
you see because it was all part of his plan you see he was all in it together,

738
00:48:06,065 --> 00:48:12,765
was one of my plan and it's working according to the plan so the factors is here,

739
00:48:13,825 --> 00:48:22,185
I'm going through a serious organized persecutions from a group and they don't

740
00:48:22,185 --> 00:48:24,745
want me actually to publish my identity.

741
00:48:26,862 --> 00:48:33,282
Even that so-called Craig Wright, he sent me an email, 2017.

742
00:48:34,122 --> 00:48:35,902
It's a very serious email.

743
00:48:36,382 --> 00:48:40,662
I should not publish myself. I should remain silent.

744
00:48:41,222 --> 00:48:48,342
Well, I met him once in London in a conference and we had little discussions.

745
00:48:49,162 --> 00:48:54,342
Well, who is Craig Wright? Craig Wright is just was a person I encountered in

746
00:48:54,342 --> 00:48:59,382
2007 because I was looking for in those days to change my surname.

747
00:48:59,942 --> 00:49:05,802
So I choose the Wright brothers and when I click on the internet about the Wright

748
00:49:05,802 --> 00:49:11,642
brothers, it's Craig Wright profile came up there. So I saw that gentleman was

749
00:49:11,642 --> 00:49:13,382
a quite intelligent person.

750
00:49:13,862 --> 00:49:20,642
So I enlisted him to be one of my one of my one of the person in the group who

751
00:49:20,642 --> 00:49:24,422
will do some work within the Bitcoin community.

752
00:49:24,562 --> 00:49:26,602
Oh, well, I don't know about you, but I'm convinced.

753
00:49:26,802 --> 00:49:31,002
I mean, his command of the English language demonstrates Satoshi's writings just clearly.

754
00:49:31,742 --> 00:49:37,622
So, yeah, Craig Wright was a pawn, somebody that he had to work to kind of help take the heat off.

755
00:49:38,322 --> 00:49:42,042
Now, I'll link to some of the coverage, but many attendees began to leave.

756
00:49:42,622 --> 00:49:47,102
And the guy maintained he was Satoshi the entire time, but it just was shakier and shakier.

757
00:49:47,502 --> 00:49:51,602
In fact, one observer noticed he seemed to get more nervous as time went on,

758
00:49:51,762 --> 00:49:55,802
saying, quote, journalists, including myself, interrupted Mola's long backstory

759
00:49:55,802 --> 00:49:58,302
as we asked him to show the promised evidence.

760
00:49:58,822 --> 00:50:03,822
Quote, we've been here nearly an hour and people are restless and increasingly rude. Mr.

761
00:50:03,922 --> 00:50:08,842
Mola's cheeks began twitching rapidly as he stares down at the skeptical crowd as people filtered out.

762
00:50:09,866 --> 00:50:15,626
So, I mean, I don't know what the legal strategy is that when you're under fraud

763
00:50:15,626 --> 00:50:20,666
investigation, the like pivot to I'm Satoshi to somehow get yourself out of

764
00:50:20,666 --> 00:50:23,366
those fraud allegations is a wild one.

765
00:50:23,746 --> 00:50:29,726
So, and the HUSPA to do it on the anniversary day, which he did intentionally.

766
00:50:30,166 --> 00:50:34,066
I say we speak no further of this individual unless they start suing free software

767
00:50:34,066 --> 00:50:37,446
developers and causing a ruckus. We have no need to speak further of him.

768
00:50:44,546 --> 00:50:48,566
Well, it's been a long time since I've played a Pomp clip, so give me credit.

769
00:50:48,806 --> 00:50:52,146
And our final clip this week, it's a good one, so I'm going to play it.

770
00:50:52,246 --> 00:50:58,206
And what I love about it is he gets the typical no-coiner, no-thought pushback

771
00:50:58,206 --> 00:51:00,466
on Bitcoin, and it's not a store of value.

772
00:51:00,646 --> 00:51:07,106
And Pomp does a great job responding to it. And I think it's it's a maybe it's

773
00:51:07,106 --> 00:51:12,226
a line of response with some modifications we could use with friends and family when they ask.

774
00:51:12,786 --> 00:51:19,246
The volatility on this thing is way too high for anybody to call that a savings account.

775
00:51:19,406 --> 00:51:23,146
I mean, you may like it, but I think that's a bridge too far right now, isn't it?

776
00:51:23,766 --> 00:51:27,646
Over the last 30 years, the U.S. dollar has lost 50 percent of its purchasing power.

777
00:51:27,806 --> 00:51:32,366
So in my lifetime, one dollar now buys you 50 percent or 50 cents of service

778
00:51:32,366 --> 00:51:35,606
and goods. And so when you think about that, the most volatile asset that most

779
00:51:35,606 --> 00:51:38,486
people hold is the dollar. And they're on the wrong side of volatility.

780
00:51:39,026 --> 00:51:42,026
Bitcoin, on the other hand, over a long period of time appreciates.

781
00:51:42,166 --> 00:51:48,066
And so the best statistic to look at this is in 2016, the average median home was about $380,000.

782
00:51:48,526 --> 00:51:52,566
I'm sorry, $280,000. Today, it's over $400,000. Right. So 50% increase in the

783
00:51:52,566 --> 00:51:53,846
average home in America.

784
00:51:54,066 --> 00:51:58,306
During that same eight-year period, it used to cost $664 Bitcoin to buy that

785
00:51:58,306 --> 00:51:59,966
home. Today, it costs $6 Bitcoin.

786
00:52:00,406 --> 00:52:05,166
It has been a 99% reduction in the cost of a home in America if you held Bitcoin.

787
00:52:05,666 --> 00:52:08,566
And so another way to think about that is if you had about $5,000 of Bitcoin

788
00:52:08,566 --> 00:52:10,566
in 2016, today it could buy you a house.

789
00:52:11,440 --> 00:52:22,000
Music.

790
00:52:21,848 --> 00:52:24,708
As we wrap up, it's time to look at the state of the network.

791
00:52:25,008 --> 00:52:30,048
The Bitcoin price is $70,480 in U.S.

792
00:52:30,568 --> 00:52:34,468
That makes it 1,419 sats per dollar.

793
00:52:35,088 --> 00:52:42,288
Bitcoin is up 3.8% since the last episode, but it's still down 4.4% from its

794
00:52:42,288 --> 00:52:45,348
all-time high 231 days ago.

795
00:52:45,348 --> 00:52:52,208
Right now, there are 18,467 reachable nodes on the Bitcoin network.

796
00:52:52,468 --> 00:52:58,528
And this episode wrapped up at block height 868,287.

797
00:52:59,128 --> 00:53:01,408
I hope you have a great week. Thank you for listening.

798
00:53:02,128 --> 00:53:06,688
Links to what we talked about today are at This Week in Bitcoin.show.

799
00:53:06,988 --> 00:53:09,908
Of course, you can also find it in a podcast player of your choice.

800
00:53:10,968 --> 00:53:14,488
Newpodcastapps.com was a great way to get started with a podcasting 2.0 app.

801
00:53:15,228 --> 00:53:17,768
Boosting with what you'd like to see from the show and what you'd like to hear.

802
00:53:17,768 --> 00:53:21,128
If you thought something was missed, let me know what you think that was.

803
00:53:21,448 --> 00:53:23,868
Or if you have a newbie question, I'm stacking those again.

804
00:53:24,408 --> 00:53:27,428
Of course, I'd love to have you also recommend this show to somebody who might

805
00:53:27,428 --> 00:53:28,468
be a little Bitcoin curious.

806
00:53:29,148 --> 00:53:32,908
This could be a great show for them to stay on the Bitcoin path and not get

807
00:53:32,908 --> 00:53:35,388
distracted by the altcoins, especially once they begin to rally.

808
00:53:35,988 --> 00:53:39,188
I'll leave you this week with a song that I think hits great.

809
00:53:39,348 --> 00:53:42,428
It's That Smile You're Wearing by Cavan Yaw.

810
00:53:42,428 --> 00:53:50,548
That smile you're wearing goes ear to ear I hadn't seen it in so long That smile

811
00:53:50,548 --> 00:53:55,768
you're wearing from ear to ear Makes my heart feel so warm.

812
00:53:56,560 --> 00:56:57,990
Music.