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Welcome in to This Week in Bitcoin, episode 81.

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

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The sentiment seems to be pretty bad, especially the last couple of weeks.

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I've been getting some notes.

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I've been reading some things online, complaints that Bitcoin's boring.

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It's not producing the returns it should. It's only chopped sideways all year.

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I think a lot of it comes from the people that just invested in Bitcoin in 2025.

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They expected massive returns. And here they are.

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And the price is just about where it was, you know, 11 months ago.

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And so there's some truth to that.

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But I think something that maybe the new class doesn't appreciate is it's remarkable how Bitcoin has defended this 100,000 line.

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I mean, with the whales selling off, some of these Bitcoin dats have been selling off, a couple of them.

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There's been a lot of sell pressure just in the last few weeks, some of the largest sell pressure we've ever seen.

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And it's still defended that 100,000 line.

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And when we do that, we bring up what's called the moving averages, which I usually like to look at the 200-day moving average, which is right around 104,000 right now.

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That's chef's kiss.

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That's beautiful.

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Because when you look at that moving average, you're smoothing out the volatility and the noise.

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And you're kind of looking at the longer price trend.

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And the longer price trend says that Bitcoin is more and more valued at over $100,000.

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And you notice it yourself probably when it for a moment dips below 100 to like 98 or 99.

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Oh, it seems so cheap.

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It seems spooky.

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How could it be so low?

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Which is hilarious if you think about it.

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So it has a psychological effect. It has a change in the way the market values it when it manages to move up that average.

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And the other thing that happens if you look outside the market and you just look inside the crypto space,

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what you'll discover is that for the last eight weeks in a row, all the altcoins have bled to Bitcoin.

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Bitcoin dominance has risen for eight weeks in a row.

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So let an old timer tell you a story for a moment.

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Stay a while and listen.

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What's really just struck me this year, even during the dips, the Bitcoin initiatives, the companies, the projects, the bank adoption, the loan types, the Congress critters, etc., etc., it all kept going.

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They all kept building.

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That's not how it used to be.

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In the past, people would go silent during dips.

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They'd hold their breath, thinking, oh, this might be it.

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Others would wait for sentiment to improve and then thus the skepticism to die down before they would dare to make news related to Bitcoin.

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But not anymore. Gone are those days.

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It's a true change.

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Even when the price is sliding, you still have people announcing their initiatives.

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We're going to have some more later on in the show.

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That's a massive shift.

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And I think before too long, those types of days will be long forgotten.

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So I just wanted to capture it for a moment.

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While people are talking about chop solidations and all of that, what has shifted underneath the surface is it's now a foregone conclusion that Bitcoin is staying around and it's likely going up in value and that there's something here, right?

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Like that psychological shift alone is a massive catalyst.

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And so a lot of things seem to be lining up.

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And one of the major blockers may be clearing.

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Well, it seems day 43 of this embarrassing and stupid shutdown is upon us and continues to freeze up Scott's checking account, impacting liquidity in the market.

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But it may be coming to an end right now as I record.

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Hopefully by the time you're hearing this, it's either over or it's relatively close to finished.

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The mad dash is on to get to the Capitol to end the government shutdown.

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I am leaving Jonesboro, Arkansas on my way to Washington.

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As airports across America face delays and cancellations.

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Some members like Wisconsin's Derek Van Orden are taking matters into their own hands.

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Flights are too unreliable.

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So I'm going to ride my motorcycle.

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It's going to take about 16 hours or so.

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It's going to be a little chilly.

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You know, it kind of feels like they're using this as an opportunity to showboat. And why are flights so unreliable right now?

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The vote, while expected to pass, will still be tight. House Democrats, still unhappy with the deal hatched by moderates in the Senate, are telling their members to vote no.

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So it's not 100% law because I record this, but people seem to think it's likely to happen.

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And I hope so. I hope so, because there are people that are really hurting from this.

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Somehow we have accumulated a massive, massive $9 billion a month run rate for the SNAP benefits.

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And those people, some of them are very much struggling right now.

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And that's the thing I want to talk about for the next few moments is if we do start to see a pump as money supply works its way out into the broader system, makes it from gold and AI stocks out into the broader ecosystem.

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There's something I want Bitcoiners to keep in mind.

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You have to stay humble during this time because there are going to be second order pump effects.

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little term I came up with. When assets go up quickly or pump, as we like to call it for fun,

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it is going to compound the gap between asset owners and non-asset owners. I think you're

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already seeing this in a big way, and it's going to get so much worse. So this is an analysis from

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a gal from Bank of America, and she says, look, folks are spending more money, but they're getting

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less because that additional spending is going to inflation. And she also says that their data

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clearly indicates higher income folks are doing just fine. The gap is what's really concerning.

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So you are continuing to see consumer spending power, but I pull out two things

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on this. First, while retail spending did go up, the number of transactions didn't. So one of the

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things driving that strengthening the consumer spending number is inflations, it's maybe tariffs.

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It's not that consumption is necessarily increasing.

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And then the other thing that I pull out is it's the higher income households that are really driving the spending.

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That gap between spending growth between higher and lower income households is certainly continuing.

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At the lower end, what are you seeing?

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So the lower end spending is still growing.

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So if you look at lower income spending, last month it was up seven-tenths.

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Higher income spending, though, was up almost four times that at 2.7.

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What's interesting is, though, what the gaps are in terms of what the difference between the spending growth between the higher and the lower income consumer and where we're seeing the biggest gaps are in bigger ticket items, in airlines, in lodging, in furniture.

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To a lesser extent, we're also seeing it in clothing.

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But in each of those categories, it's not that the higher income is really spending a lot more.

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It's that lower income is pulling back.

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Yeah, of course they are.

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Of course there. So if we see a rally in assets, it's going to be the most hated rally by the non-asset owners I think we've ever witnessed in our lifetimes. And the unfortunate, uncomfortable truth is some of the Trump administration policies are helping. They might reduce some of the deficit spending a bit. They may be able to lower energy prices in certain sectors like oil due to policies.

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But the tariffs are causing the price of some goods to go up.

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And that has an immediate impact on consumers who are stretched thin right now.

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So the left hand is trying to do one thing to lower prices while the right hand is doing something that raises prices.

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This dichotomy was brought up on one of Scott's Sunday tours.

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I think that the tariffs help consumers because we are able to, if you go back and look, we have brought down the budget deficit.

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And MIT came out with a study that said that 42% of the great inflation was caused by the big deficit spending.

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So as you bring down deficit spending, inflation will come down.

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And the tariffs right now, we take in substantial tariff income over time that will rebalance as the factories move to the U.S.

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and that will become the corporate income or wage income.

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And by bringing down the budget deficit, we are bringing down inflation.

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Now, that may be partially true.

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You know, reducing deficit spending will help with inflation, but it's going to be down the road.

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It may not impact everybody.

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It may not be distributed evenly through the economy because it depends on the idea that ultimately wages go up.

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So this is why you're seeing the idea of rebate checks or I'm sorry.

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I'm sorry. Tariff dividend checks.

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We heard about the Doge dividends. What about tariff dividends?

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The Treasury collected almost 200 billion dollars in tariff revenue in the fiscal year 2025 that ended in September.

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Now President Trump wants to cut Americans a check.

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So the entire tariff revenue is less than $200 billion, just to be clear about that.

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Right?

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When they're burning through trillions of dollars in a year, okay.

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Writing on True Social over the weekend that low- and middle-income Americans will receive $2,000 payments from the tariff income.

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And the rest will be used to help pay down the national debt.

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this is pending a decision from the Supreme Court, which just days ago cast doubt on the tariff

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legality. Oh, I'm sure that has nothing to do with it, right? And when they say, yeah, you're

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going to get a check, you're going to get a dividend, you're going to get a rebate, you're

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going to get a stimmy. Or the use of power to impose these tariffs. But Treasury Secretary

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Scott Bessent says a dividend can come in a lot of different ways. Yeah. So they're already

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starting to kind of wiggle on what this stimulus check might look because no doubt Scott knows

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how inflationary this could potentially be. Surely some of that money will flow into Bitcoin. So

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yeah, it's going to mean Bitcoin price go up. It also means a lot of shoes are going to be bought.

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It means a lot of cars are going to get a down payment, a lot of silly stuff like that.

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Some debt will get paid off. But this is very much still in discussion.

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Well, there are a lot of options here. The president's talking about a $2,000 rebate, and that would be for families making less than, say, $100,000.

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Have you decided on that yet?

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We haven't. We haven't. It's in discussion.

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But the other thing to think about, Brian, is that what we did with the tax bill is actually financing the presence, no tax and tips over time.

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So security and the big refunds you're going to see.

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Oh, yeah.

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So think of how great your taxes are going to be.

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Maybe you don't get a stimmy, but you got your taxes, rebate.

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Yeah.

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So, I mean, that's good, right?

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Are a result of that.

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So that's another payment to the American people.

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And then the other thing you're going to see in the middle of the year are these Trump accounts.

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Every child born retroactively to January 1 for the next three years is going to get a $1,000 account that's going to be invested in the U.S. stock market.

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So that's another $1,000 for working families.

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So yesterday I just feel like, again, one hand is trying to fight inflation while the other hand is doing things that cause inflation go up.

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You know, like what is that going to do?

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What is that going to do?

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It's going to it's going to increase demand.

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It's going to put strain on supply chain.

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It'll be the exact same thing we saw during covid.

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Only this time there won't be a supply chain shutdown to make it as worse.

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So you have this, which to me feels like both a political play to try to put public pressure on the Supreme Court, but also it's a recognition that the tariffs are causing prices to go up. And so why not cut everybody a little check?

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And this this is where we get into one of the biggest cell phones that I think the Trump administration ever made.

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I may have ranted about this on the show before.

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Perhaps not.

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I've definitely ranted about it at home.

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But Scott has had to go on this tour to do damage control over this, to try to walk back expectations, because the reality is it's not just the Stimmy check.

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The expectation by now is that the prices on goods would come down.

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The groceries would be cheaper.

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Homes would be cheaper.

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Everyday goods would be cheaper.

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Affordability was the word.

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They should have never made that promise.

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Huge mistake.

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They can't lower the prices on goods.

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I mean, some things they can, like perhaps oil,

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or they can put reserves into the market to cause an excess demand or excess supply.

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So there's some things they can do, but they're not wizards.

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You would only really get prices to go down with a recession.

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You'd have to have a deep recession.

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And the people don't want that.

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They're not going to, the Fed's not going to allow that.

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The Treasury is not going to allow that.

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So they have this massive problem with affordability.

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And that something they trying to solve with these stimmy checks as well When you talk about the whole thing from the off elections was affordability that was the words people like Zoram Amdani used

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but their ways of solving that are very different from the way you would do it.

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So when you look at affordability now and you go grocery shopping, for example,

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what products are you working on bringing down?

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We know that certain products are down, certain up.

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Like, for example, coffee.

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The president says, I'm going to lower the rates, tariff rates on Brazil and Vietnam and other places.

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to try to bring the price of coffee down.

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What else do you do?

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See, this is the smooth brain economic thinking.

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People actually think the Trump administration

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is going to bring down the individual costs

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of individual grocery items.

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Hey, Scott, when is your rice-a-roni plan going into effect?

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When's the white bread discount happening?

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When am I a whole,

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what is the whole grain bread gonna be a little cheaper?

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How long until the cans of tuna, right?

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As if the Trump administration can pull levers

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on the prices of every single product in the supermarket.

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But the smooth brains, that's what they've been told to expect.

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And so that's what they want.

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Well, it's tough to do a lot of specific things, but I can tell you, Brian, you're going to see substantial announcements over the next couple of days in terms of things we don't grow here in the United States.

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Coffee being one of them, bananas, other fruits, things like that.

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So that will bring the prices down very quickly.

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And Brian, we inherited this affordability mess.

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It was the worst inflation.

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So one specific example, coffee, because that is, you know, through the exports and the

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negotiations and the tariffs and the blah, blah, blahs, they can't affect some of those

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prices.

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So he cites one thing and then immediately pivots to the blame game.

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Prices down very quickly.

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And Brian, we inherited this affordability mess.

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It was the worst inflation, 40, 50 years, one of the worst in the nation's history.

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Okay, true.

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And affordability has two components. So there's the price level and then there is income level. And what happened under Biden was the cumulative inflation, stated inflation, CPI, was 20, 23 percent. But what happened to working Americans, their basket of goods and services, food, insurance, auto payments, was up in the 30s.

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What? Did the United States government just acknowledge that inflation for some consumer goods was in the 30s? I mean, this is remarkable.

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They felt a real gigantic differential there.

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And what we are going to do is by bringing back high-paying manufacturing jobs,

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President Trump is going to do what he did in the first term,

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and that is for hourly workers and working Americans to have real wage increases.

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So, Brian, imagine two lines.

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There is the inflation line.

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We've got that under control. It's leveled out. That is going to start turning down.

214
00:16:45,376 --> 00:16:53,996
Then there's the income line, which under Biden, because so many of the jobs were government jobs, you can't get real wage growth from a government job.

215
00:16:54,316 --> 00:17:02,636
Real wages are going to increase. And I would expect in the first quarter, second quarter of next year, those two lines are going to cross.

216
00:17:02,796 --> 00:17:08,756
And the American people are going to start feeling better. But look, this has been a tough period.

217
00:17:08,756 --> 00:17:15,996
Feeling better because what he's saying is if their plans work out, you'll be making more money relative to what you're paying for stuff.

218
00:17:16,416 --> 00:17:18,716
But I'd like you to boost in and answer this question.

219
00:17:19,476 --> 00:17:21,716
What happens when everybody gets a raise?

220
00:17:22,396 --> 00:17:23,796
Where does that come from?

221
00:17:24,476 --> 00:17:26,156
How do the employers deal with that?

222
00:17:26,796 --> 00:17:28,396
I mean, I think everybody should get a raise.

223
00:17:28,756 --> 00:17:32,056
But how does that get processed into the economy?

224
00:17:32,556 --> 00:17:33,856
Boost in and answer that for me.

225
00:17:38,756 --> 00:17:42,416
Well, a bit of bad news this week.

226
00:17:43,196 --> 00:17:53,336
37-year-old Keone Rodriguez, the CEO of Samurai Wallet, was sentenced Thursday to five years in prison for operating a cryptocurrency mixing service.

227
00:17:53,856 --> 00:17:57,236
Prosecutors say he laundered $237 million in illicit funds.

228
00:17:57,856 --> 00:17:59,156
David Morris was there.

229
00:17:59,256 --> 00:18:05,536
He was reporting for The Rage, and he captured his thoughts right outside the court the moment things wrapped up.

230
00:18:05,536 --> 00:18:17,916
Hi, this is David Morris for The Rage here at the Southern District of New York, where we just saw the completion of a sentencing hearing for Keone Rodriguez, one of the two creators of Samurai Wallet, a privacy-slash-mixing service.

231
00:18:18,776 --> 00:18:29,356
Rodriguez, which some people will be disappointed by, Rodriguez got the full possible sentence for his guilty plea on the charge of operating an unlicensed money transmitter.

232
00:18:29,356 --> 00:18:43,736
1960 C, the same charge that Roman Storm was recently found guilty of and that people, including Peter Van Valkenburg from Coin Center, have said is being interpreted strangely in these cases.

233
00:18:44,036 --> 00:18:57,736
But regardless, we saw a judge, Judge Coate, who seemed very unsympathetic to the arguments for financial privacy that were made by Rodriguez in some of his submissions ahead of the sentencing.

234
00:18:58,296 --> 00:19:00,856
I'll be writing more about that at the rage soon.

235
00:19:01,436 --> 00:19:04,096
So full five-year sentence on that one charge.

236
00:19:04,236 --> 00:19:08,616
It is worth keeping in mind that in exchange for his guilty plea, several other charges

237
00:19:08,616 --> 00:19:12,336
with a potential maximum of 25 years in prison were dropped.

238
00:19:12,976 --> 00:19:17,436
And so it's not necessarily that he got a raw deal for the plea.

239
00:19:17,676 --> 00:19:21,256
He did potentially reduce the sentence by pleading guilty.

240
00:19:21,816 --> 00:19:27,516
He will also pay a $250,000 fine, which according to his own defense lawyers is going to be

241
00:19:27,516 --> 00:19:32,996
a real challenge because he has obligations already greater than money that he had on hand

242
00:19:32,996 --> 00:19:40,276
from his work prior to Samurai Wallet. So it's not the outcome that I think many viewing this

243
00:19:40,276 --> 00:19:46,296
are going to have hoped for, but it is still probably less than at least a worse, worst case

244
00:19:46,296 --> 00:19:51,116
scenario. Lots more detail to come as I write for The Rage over the next couple of hours. So stay

245
00:19:51,116 --> 00:19:57,276
tuned to this space. Thanks. I'm pretty disappointed because, well, it never really sounds like he had

246
00:19:57,276 --> 00:20:01,816
a chance. It was really stacked against him. And what worries me is it sets a precedent for open

247
00:20:01,816 --> 00:20:08,496
source privacy developers. It holds developers criminally liable for use by their users. So if

248
00:20:08,496 --> 00:20:15,476
a user uses it in the wrong way, the developer is responsible for that. I just, I don't like this

249
00:20:15,476 --> 00:20:21,516
because that means even non-custodial tools are in the crosshairs, just like the Tornado Cash case.

250
00:20:21,516 --> 00:20:27,496
it's going to have a chilling effect on innovation in the sector if this is going to be the way these

251
00:20:27,496 --> 00:20:32,216
go. So I think we have to stay vigilant in this space. We have to keep watching news developments.

252
00:20:33,216 --> 00:20:36,496
And when we're given the opportunity, make our feelings known.

253
00:20:51,516 --> 00:20:54,756
Okay, now a bit of good news.

254
00:20:55,256 --> 00:20:57,896
After a bit of teasing this week,

255
00:20:58,976 --> 00:21:04,516
Square went live for 4 million merchants to easily turn on Bitcoin payments.

256
00:21:05,116 --> 00:21:09,256
Everywhere in the U.S., except for New York, thanks to their 2015 BitLicense,

257
00:21:09,836 --> 00:21:13,196
anyone that currently accepts Square for payment at their business

258
00:21:13,196 --> 00:21:16,596
can now easily accept payments in Bitcoin.

259
00:21:16,756 --> 00:21:18,216
Square released this video to explain.

260
00:21:21,516 --> 00:21:27,856
Today, I'm going to walk you through how you can take Bitcoin payments in your in-person location.

261
00:21:28,336 --> 00:21:36,256
You'll be able to use your Square devices, Square Terminal or Register, as well as iOS devices to be able to take Bitcoin payments.

262
00:21:37,276 --> 00:21:40,056
Let's get started by enabling Bitcoin payments for your account.

263
00:21:40,576 --> 00:21:42,896
You can start by navigating to your banking page.

264
00:21:45,796 --> 00:21:47,396
Here you'll see the Bitcoin tab.

265
00:21:48,176 --> 00:21:50,556
And on this page, you can see that you can get started.

266
00:21:50,556 --> 00:21:54,136
So they walk the user through how to easily do it, and it works.

267
00:21:54,496 --> 00:21:59,516
Of course, the first payment on Square in the wild was at a coffee shop.

268
00:22:00,236 --> 00:22:01,056
All right, good morning.

269
00:22:01,216 --> 00:22:07,396
So we're here at Compass Coffee, and we're going to be filming the first Bitcoin transaction using Square.

270
00:22:08,076 --> 00:22:09,656
So, sir, what can I get for you?

271
00:22:09,936 --> 00:22:12,256
I'd love a pumpkin spice latte if you have any.

272
00:22:12,596 --> 00:22:14,016
Yeah, we got a PSL for you.

273
00:22:14,136 --> 00:22:15,096
There's no need to be embarrassed.

274
00:22:15,756 --> 00:22:16,556
All right, awesome.

275
00:22:16,936 --> 00:22:18,356
How many sasses is that going to be?

276
00:22:18,356 --> 00:22:22,736
That's going to be 6,526 sats.

277
00:22:23,076 --> 00:22:23,696
All right, perfect.

278
00:22:24,076 --> 00:22:25,956
Just happen to have some sats on me.

279
00:22:26,936 --> 00:22:27,796
Thank you, Walter.

280
00:22:28,276 --> 00:22:28,736
Thank you.

281
00:22:28,856 --> 00:22:29,456
There we go.

282
00:22:29,776 --> 00:22:31,296
Okay, 6,000 sats.

283
00:22:31,836 --> 00:22:32,876
And boom, it's done.

284
00:22:32,936 --> 00:22:34,996
You notice he keeps using the word sats.

285
00:22:35,476 --> 00:22:37,336
That's the only thing I don't like about this,

286
00:22:37,336 --> 00:22:40,436
and I think why he made a point to say sats over and over again.

287
00:22:41,116 --> 00:22:44,216
On the UI, they don't use the word sats.

288
00:22:44,336 --> 00:22:48,156
They use the word Bitcoin, which that's weird, right?

289
00:22:48,156 --> 00:22:50,876
Because say you're going to buy coffee, it says you owe 6,000 Bitcoin.

290
00:22:51,316 --> 00:22:54,676
And then it has the USD value underneath it, which is the correct amount.

291
00:22:55,356 --> 00:22:56,736
But it's just, it's a weird interface.

292
00:22:56,896 --> 00:23:02,716
And it's something that I know Jack thinks using the word sats is preventing public adoption.

293
00:23:02,836 --> 00:23:04,776
It's just, to me, I don't understand it at all.

294
00:23:05,356 --> 00:23:07,016
People understand coins and dollars.

295
00:23:07,536 --> 00:23:11,056
But I do like that they're getting local businesses to accept Bitcoin payments.

296
00:23:11,116 --> 00:23:16,716
And here's what they're doing right now for a year, zero fees for the transactions done in Bitcoin.

297
00:23:17,336 --> 00:23:18,336
Now, think about that.

298
00:23:18,396 --> 00:23:21,376
That's a pretty nice selling point compared to credit cards.

299
00:23:22,016 --> 00:23:23,096
That's really nice.

300
00:23:23,276 --> 00:23:25,256
But it does need to stick.

301
00:23:25,736 --> 00:23:32,116
And Hottobot on Nostra had some observations that might help it stick with both consumers and the merchants that are using it.

302
00:23:32,336 --> 00:23:39,656
He suggests some onboarding resources for local guides, some clear, concise materials to help advocate and approach local businesses.

303
00:23:39,916 --> 00:23:44,816
So people like him or myself could go in and make a pitch for people already using Square.

304
00:23:44,816 --> 00:23:49,916
maybe even a referral and incentive program to establish rewards for individuals to go out and

305
00:23:49,916 --> 00:23:54,796
help drive merchant and customer adoption and then some sort of customer value proposition on the

306
00:23:54,796 --> 00:23:59,716
screen maybe clarify why customers would want to spend bitcoin despite maybe confies they might

307
00:23:59,716 --> 00:24:05,756
have to pay consider maybe even like you know points back kind of a thing for a little bit like

308
00:24:05,756 --> 00:24:09,296
that i think kind of stuff would really make it stick i agreed with hodl body had some really

309
00:24:09,296 --> 00:24:14,856
solid suggestions. And you have to wonder if this will be a long-term thing. You know,

310
00:24:14,916 --> 00:24:20,556
will this see very much adoption? And I want to ask you, because this is the front line.

311
00:24:21,096 --> 00:24:24,716
Are you willing to spend your sats? If you go to a merchant that has a square terminal

312
00:24:24,716 --> 00:24:30,356
and they accept Bitcoin payments, are you going to do it? Picture it. It could happen. There's

313
00:24:30,356 --> 00:24:35,276
millions of them, like 4 million of them. They're all over the US, except for New York.

314
00:24:35,276 --> 00:24:39,896
so when given the opportunity to buy your bubble gum or whatever it is you're doing

315
00:24:39,896 --> 00:24:46,296
your sandwich your coffee lumber i don't know are you going to use sats or will you still pay in

316
00:24:46,296 --> 00:24:51,356
fiat boost in and let me know i'm curious to know because if this audience won't do it

317
00:24:51,356 --> 00:24:56,976
nobody's going to do it right or maybe i'm wrong explain your logic and boost in and tell me

318
00:25:05,276 --> 00:25:20,596
you can support the show by doing what you do if you want to stack sats on river use the links in

319
00:25:20,596 --> 00:25:24,596
our show notes check out the top of the show notes links to affiliate programs that you use

320
00:25:24,596 --> 00:25:29,836
that help the show like the bitcoin well automatic self-custody platform for canadia or for the

321
00:25:29,836 --> 00:25:34,296
united states or the bitcoin company sats to gift cards and seconds over the lightning network

322
00:25:34,296 --> 00:25:35,416
or Fold.

323
00:25:35,496 --> 00:25:36,296
You want to stack sats

324
00:25:36,296 --> 00:25:37,236
when you're paying your bills?

325
00:25:37,556 --> 00:25:38,116
Fold does it.

326
00:25:38,496 --> 00:25:40,136
Yeah, sats back on your bills

327
00:25:40,136 --> 00:25:41,116
and Salt Lending.

328
00:25:41,216 --> 00:25:41,756
You want to get access

329
00:25:41,756 --> 00:25:42,636
to your Bitcoin value

330
00:25:42,636 --> 00:25:43,456
without selling it.

331
00:25:44,196 --> 00:25:45,136
Salt Lending's been around.

332
00:25:45,276 --> 00:25:46,556
They've been through some crunches.

333
00:25:47,016 --> 00:25:47,856
They got a great platform.

334
00:25:48,016 --> 00:25:48,516
That's who I use.

335
00:25:48,836 --> 00:25:49,896
These links in the show notes,

336
00:25:50,056 --> 00:25:50,376
click them,

337
00:25:50,856 --> 00:25:51,596
go doing about

338
00:25:51,596 --> 00:25:52,656
what you're going to do anyways.

339
00:25:52,916 --> 00:25:53,716
Stack those sats

340
00:25:53,716 --> 00:25:54,716
and support the show

341
00:25:54,716 --> 00:25:55,336
while you're doing it.

342
00:26:04,296 --> 00:26:13,316
Let's get into the boost because we do have some boosts this week.

343
00:26:13,316 --> 00:26:15,596
Four score and seven boosts to go.

344
00:26:15,676 --> 00:26:17,256
And Sat Squanch is our baller booster.

345
00:26:17,396 --> 00:26:18,796
Hey, rich lobster!

346
00:26:20,816 --> 00:26:21,976
Ah, yes.

347
00:26:22,996 --> 00:26:24,956
88,000 sats.

348
00:26:27,396 --> 00:26:31,796
Chris, you are scaring the bejeebus out of me with this Bip444 commentary.

349
00:26:31,976 --> 00:26:32,896
Thanks for keeping it real.

350
00:26:32,896 --> 00:26:38,216
What a development. Sorry I've been offline for the past few months, traveling and S.

351
00:26:38,496 --> 00:26:45,816
Part of the contribution is from your boys at the Pizza Chief and Diesel Jeff from the Secret Thousand Oaks BTC meetup.

352
00:26:46,276 --> 00:26:49,276
Still hanging out with the boys second Monday nights. That's awesome.

353
00:26:49,456 --> 00:26:50,036
Make it so.

354
00:26:50,156 --> 00:26:55,476
Love to hear that. Thank you, Satsquatch. Yes, I have more on Bit4444 later in the show.

355
00:26:55,836 --> 00:26:58,696
So stay tuned for that. And I really appreciate the boost.

356
00:26:59,556 --> 00:27:02,996
Our next boost comes from Bitcoin Lizard with 35,000 sats.

357
00:27:06,936 --> 00:27:08,136
Let's hear it good, buddy.

358
00:27:08,336 --> 00:27:09,936
You're spot on about BIP444.

359
00:27:10,076 --> 00:27:16,836
This is actually, this BIP could actually make funds in esoteric taproot configurations unspendable.

360
00:27:17,336 --> 00:27:22,196
Those pushing this BIP have gained some level of community approval by proposing something reasonable,

361
00:27:22,196 --> 00:27:27,476
limiting data carrier size and pushing for some censorable blockchain for bitcoin for the

362
00:27:27,476 --> 00:27:31,596
censoring the bitcoin blockchain it's hard to see this as anything other than nefarious

363
00:27:31,596 --> 00:27:43,933
fortunately it unlikely to ever activate yeah i have more on that i agree it I think this is what gotten everybody Nobody wants spam So the argument of something to help prevent spam

364
00:27:43,933 --> 00:27:44,833
seems like a good one.

365
00:27:44,973 --> 00:27:47,353
It's more about the who would lose their coins

366
00:27:47,353 --> 00:27:50,173
and what old transactions that have already happened

367
00:27:50,173 --> 00:27:51,193
would be locked out.

368
00:27:51,673 --> 00:27:52,553
I'll have more on that.

369
00:27:53,093 --> 00:27:53,493
Thank you.

370
00:27:53,673 --> 00:27:54,413
Good to hear from you, Blizzard.

371
00:27:54,793 --> 00:27:55,493
Thanks for the boost.

372
00:27:55,913 --> 00:27:58,733
Hey, Hybrid Sarcasms here with a big old McDuck.

373
00:27:58,873 --> 00:27:59,433
I fly.

374
00:27:59,953 --> 00:28:01,633
Quacka, wacka, it's a treasure.

375
00:28:01,633 --> 00:28:04,393
22,000 sats and hybrid rides.

376
00:28:04,473 --> 00:28:06,073
I didn't realize Cast-O-Matic stopped streaming.

377
00:28:06,273 --> 00:28:07,233
Here's everything in my wallet.

378
00:28:07,353 --> 00:28:10,493
Oh, also wanted to get your take on multisig wallets.

379
00:28:10,553 --> 00:28:12,633
Is it worth the extra inconvenience?

380
00:28:13,593 --> 00:28:16,493
Yeah, if you got a decent little stack, I think it could be.

381
00:28:16,493 --> 00:28:25,273
Because what you get with it is peace of mind that, you know, you are safer from a wrench attack, from building, burning down, those kinds of things.

382
00:28:25,393 --> 00:28:27,373
When you get a substantial amount, I think it could be worth it.

383
00:28:27,373 --> 00:28:31,753
wallets like Nunchuck make it pretty approachable without unreasonable costs,

384
00:28:31,773 --> 00:28:33,393
and they still offer service if you need it.

385
00:28:34,133 --> 00:28:35,393
So it's something to keep an eye on.

386
00:28:35,433 --> 00:28:38,713
I've been watching Nunchuck for a couple of years now since the Bitcoin Dad pod,

387
00:28:39,273 --> 00:28:41,233
just kind of seeing how they're doing, and so far I've been impressed.

388
00:28:41,413 --> 00:28:43,533
So I'm getting ready to try it out myself.

389
00:28:44,193 --> 00:28:45,713
Thank you, Hybrid. Appreciate that boost.

390
00:28:45,813 --> 00:28:46,953
Always good to hear from you, sir.

391
00:28:47,333 --> 00:28:49,113
Hey, there's Gene Bean. Look at that.

392
00:28:49,293 --> 00:28:51,873
He's here with 6,294 sats.

393
00:28:51,873 --> 00:28:53,813
Why you got to put numbers and letters together?

394
00:28:54,113 --> 00:28:55,373
Why can't you just go f*** yourself?

395
00:28:55,773 --> 00:28:56,853
I don't know what all that means.

396
00:28:57,373 --> 00:28:59,993
I think it might be a lot of ducks, too, so I'm going to give him some ducks.

397
00:29:05,353 --> 00:29:09,193
Last week, I boosted and replied on you seeing the rendered version of my NPUB.

398
00:29:09,293 --> 00:29:10,653
Oh, right, right, right, right.

399
00:29:10,933 --> 00:29:12,293
He said, suggest you making my own.

400
00:29:12,293 --> 00:29:18,413
Oh, so Gene set up a site for himself, like I recommended, genebean.me.

401
00:29:18,513 --> 00:29:20,193
That's so great, Gene.

402
00:29:20,273 --> 00:29:21,253
It looks awesome.

403
00:29:21,333 --> 00:29:24,453
And then he links to his Primal profile on there.

404
00:29:25,113 --> 00:29:26,993
Gene, nice page, dude.

405
00:29:26,993 --> 00:29:28,253
set one up for me. No, I'm kidding.

406
00:29:29,533 --> 00:29:31,013
He says, boosting again, because I

407
00:29:31,013 --> 00:29:33,173
keep thinking about the stuff in this episode. Oh, I love

408
00:29:33,173 --> 00:29:35,093
to hear that, Gene. Make it so. Thank you very

409
00:29:35,093 --> 00:29:36,673
much. Glad I got you cooking.

410
00:29:37,473 --> 00:29:39,453
OneDollGeeks here with 2,000

411
00:29:39,453 --> 00:29:39,773
sats.

412
00:29:41,613 --> 00:29:43,033
Regarding the soft fork, I posted

413
00:29:43,033 --> 00:29:45,113
a question to Matthew Cratter. If we only have

414
00:29:45,113 --> 00:29:46,993
20% of node runners switching to knots,

415
00:29:47,333 --> 00:29:49,213
why do they think they have sufficient consensus

416
00:29:49,213 --> 00:29:50,953
to force the miners to

417
00:29:50,953 --> 00:29:53,093
the soft fork? Yeah, to mine

418
00:29:53,093 --> 00:29:54,193
the soft fork. Yeah.

419
00:29:54,193 --> 00:30:02,373
So there is a threshold at which they could be successful without having to be 50% of the network.

420
00:30:02,493 --> 00:30:04,753
I don't know if 20% is at one dull geek.

421
00:30:05,173 --> 00:30:14,413
This is an aspect to this data carrier size reduction thing that I don't understand fully in that it would require node operators and miners to comply.

422
00:30:15,373 --> 00:30:17,933
And I don't know what incentive they have to do that.

423
00:30:18,153 --> 00:30:19,213
I mean, obviously, they don't want spam.

424
00:30:19,313 --> 00:30:23,373
So maybe if there was some sort of horrendous spam problem, maybe the incentive would be obvious.

425
00:30:24,033 --> 00:30:25,053
But it's something I've been wondering, too.

426
00:30:25,113 --> 00:30:25,593
Thanks, Wendell.

427
00:30:25,713 --> 00:30:26,333
Appreciate that.

428
00:30:26,913 --> 00:30:30,433
Northern Hoddle's here with 2,121 sats.

429
00:30:30,493 --> 00:30:31,433
Hey, I like that.

430
00:30:31,633 --> 00:30:32,553
I like you.

431
00:30:32,953 --> 00:30:33,993
You're a hot ticket.

432
00:30:34,493 --> 00:30:34,813
Gracias.

433
00:30:35,273 --> 00:30:36,373
Agree on bit444.

434
00:30:36,473 --> 00:30:37,433
Sounds nutty.

435
00:30:37,613 --> 00:30:37,873
Yep.

436
00:30:37,993 --> 00:30:39,013
I tell you what.

437
00:30:39,333 --> 00:30:41,033
This is why I've been drinking bedtime wine.

438
00:30:41,033 --> 00:30:43,133
This is why I have bedtime wine.

439
00:30:43,393 --> 00:30:44,013
No, not really.

440
00:30:44,233 --> 00:30:45,933
But, you know, you can understand.

441
00:30:46,413 --> 00:30:47,053
Thank you for the boost.

442
00:30:47,173 --> 00:30:47,993
Appreciate it, Northern Hoddle.

443
00:30:48,433 --> 00:30:50,373
Eighth Ackerman's here with a row of ducks.

444
00:30:51,473 --> 00:30:53,033
2,222 sats.

445
00:30:53,373 --> 00:30:59,173
He says, Cratter has been kind of has been a Bitcoin purist, but I have had a tough time following him recently, too.

446
00:30:59,533 --> 00:31:02,133
Seems like an overreaction on his part or some kind of sour grapes.

447
00:31:02,133 --> 00:31:07,353
The last thing we want is a group or individuals determining what Bitcoin should or should not be used for.

448
00:31:08,013 --> 00:31:11,393
Yeah, especially since Bitcoin is going to out survive all of us.

449
00:31:11,773 --> 00:31:15,813
It's sort of quaint to think that we should be making some of these decisions for future generations.

450
00:31:16,613 --> 00:31:24,333
I think audience capture is a thing, but also people truly are concerned about bogus, spam,

451
00:31:24,913 --> 00:31:27,853
porn, whatever it might be, getting in the blockchain and affecting the value of their

452
00:31:27,853 --> 00:31:28,093
money.

453
00:31:28,613 --> 00:31:30,673
So I can see that making them a little nutty on this.

454
00:31:31,113 --> 00:31:36,093
And then I think a lot of these folks, people that I respect, like Mechanic and until now

455
00:31:36,093 --> 00:31:41,293
recently, Cratter, they went so all in on fighting 30 that the fact that 30 went with

456
00:31:41,293 --> 00:31:45,273
the opportune changes, there's nowhere else for them to go except for this direction.

457
00:31:45,813 --> 00:31:46,473
You know what I mean?

458
00:31:46,653 --> 00:31:47,313
They're so dug in.

459
00:31:47,333 --> 00:31:48,333
There's nowhere else to go.

460
00:31:48,673 --> 00:31:50,393
And they passionately believe their cause.

461
00:31:50,612 --> 00:31:51,753
I believe.

462
00:31:51,893 --> 00:31:53,133
I think they're genuine in it.

463
00:31:53,873 --> 00:31:55,193
I just, well, I'm going to get more to it.

464
00:31:55,193 --> 00:31:57,073
I'll save my thoughts for more in the update section.

465
00:31:57,173 --> 00:31:57,493
Stay tuned.

466
00:31:57,853 --> 00:31:58,473
Thank you for the boost.

467
00:31:59,293 --> 00:32:00,793
Brewagator's here with 5,000 sats.

468
00:32:00,933 --> 00:32:01,693
This is the way.

469
00:32:02,133 --> 00:32:05,793
As someone whose wife is a government employee, we have had to scale back on our DCA.

470
00:32:06,353 --> 00:32:06,913
Yeah, I understand.

471
00:32:07,273 --> 00:32:09,573
Once the back pay hits, though, we're going to smash buy.

472
00:32:11,653 --> 00:32:13,112
Coming in hot with the boost.

473
00:32:13,112 --> 00:32:16,373
hopefully before the price jumps back up.

474
00:32:17,373 --> 00:32:18,233
Yeah, right, man.

475
00:32:18,593 --> 00:32:19,593
You might be lucky, dude.

476
00:32:19,633 --> 00:32:21,873
I don't know how long that takes them to get the back pay.

477
00:32:22,573 --> 00:32:26,112
God, this is where I wish that we had great access to lines of credit right now

478
00:32:26,112 --> 00:32:28,852
because, you know, you could take out a lot of credit, smash buy,

479
00:32:28,953 --> 00:32:31,053
and then pay it off when you get paid because you're right.

480
00:32:31,112 --> 00:32:35,173
Now it's going to be a great – we're below the 200-day moving average price.

481
00:32:35,513 --> 00:32:37,993
So just historically, that makes it a discount.

482
00:32:38,393 --> 00:32:39,973
It's technically on sale right now.

483
00:32:40,073 --> 00:32:41,352
Bitcoin does have a sale price,

484
00:32:41,352 --> 00:32:44,313
and that sale price is when it's below its 200-day moving average,

485
00:32:44,373 --> 00:32:45,673
which it is right now as I record.

486
00:32:46,073 --> 00:32:47,633
So it's on sale, and I hope you can do it, Brew.

487
00:32:48,112 --> 00:32:49,273
Good luck. Let me know how it goes,

488
00:32:49,313 --> 00:32:51,253
and thanks for boosting even in the lean times.

489
00:32:51,733 --> 00:32:52,333
Really appreciate it.

490
00:32:52,333 --> 00:32:54,693
As a podcaster, it's lean times all the time.

491
00:32:54,773 --> 00:32:57,153
So thank you, sir, and I'm glad you're able to survive.

492
00:32:57,773 --> 00:32:58,993
I'm sure that was not fun.

493
00:32:59,533 --> 00:33:01,633
BobbyPin comes in with 5,000 sats.

494
00:33:01,753 --> 00:33:03,073
The traders love the vol.

495
00:33:03,433 --> 00:33:05,173
Linux and Bitcoin do go well together.

496
00:33:05,173 --> 00:33:06,973
I've been listening to you since 2014

497
00:33:06,973 --> 00:33:09,612
and bought Bitcoin for the first time two years ago

498
00:33:09,612 --> 00:33:10,833
just to boost the show.

499
00:33:10,893 --> 00:33:11,833
It's because I wanted to support

500
00:33:11,833 --> 00:33:12,873
Jupiter Broadcasting.

501
00:33:13,313 --> 00:33:14,913
I've only gotten orange-pilled this year

502
00:33:14,913 --> 00:33:16,073
after doing the research.

503
00:33:16,493 --> 00:33:18,533
I wish I was there for the Plan B days.

504
00:33:18,753 --> 00:33:19,393
Oh, yeah.

505
00:33:19,933 --> 00:33:21,033
People that are new to the show,

506
00:33:21,073 --> 00:33:23,093
I used to have a Bitcoin podcast a decade ago

507
00:33:23,093 --> 00:33:24,373
called Plan B,

508
00:33:25,033 --> 00:33:26,413
which has been used by multiple people

509
00:33:26,413 --> 00:33:27,533
for other things now,

510
00:33:27,713 --> 00:33:29,053
but we were a little early.

511
00:33:29,533 --> 00:33:29,633
He says,

512
00:33:29,653 --> 00:33:30,553
I remember a while ago,

513
00:33:30,633 --> 00:33:32,352
you and Alan sold Bitcoin to buy a server.

514
00:33:32,513 --> 00:33:34,213
I wonder how much that server costs now

515
00:33:34,213 --> 00:33:35,193
in the fiat fun bucks

516
00:33:35,193 --> 00:33:36,533
given today's Bitcoin price.

517
00:33:37,333 --> 00:33:39,013
Yeah, man, I bought a lot of studio gear.

518
00:33:39,612 --> 00:33:41,213
Back in the day, a long time ago.

519
00:33:41,973 --> 00:33:43,093
I'm just going to leave it at that.

520
00:33:43,193 --> 00:33:45,112
I'll just say Newegg used to take Bitcoin directly.

521
00:33:45,833 --> 00:33:46,193
Okay?

522
00:33:46,573 --> 00:33:47,593
That was not good for me.

523
00:33:48,093 --> 00:33:49,213
It was not good for me.

524
00:33:49,273 --> 00:33:53,253
I'm glad Newegg no longer takes Bitcoin directly because...

525
00:33:53,253 --> 00:33:56,953
Anyways, thank you for listening for so long, Bobby.

526
00:33:57,073 --> 00:33:57,933
And thanks for checking in.

527
00:33:58,573 --> 00:34:00,653
Clark Gaines here with 5,000 sats.

528
00:34:00,953 --> 00:34:02,213
That's not possible.

529
00:34:02,373 --> 00:34:03,393
Nothing can do that.

530
00:34:03,612 --> 00:34:05,813
As much as I like the idea of Lava's products,

531
00:34:06,033 --> 00:34:09,053
that's one of the lines of credit we've been talking about recently,

532
00:34:09,053 --> 00:34:15,332
I've seen some investigative posts from Corey Clipson and Samson Mao showing lava zone terms and the risk being put on the bower.

533
00:34:15,413 --> 00:34:16,393
Yeah, I'm going to talk about that.

534
00:34:16,832 --> 00:34:17,753
I have an update on that.

535
00:34:17,973 --> 00:34:22,293
He says, I suggest checking out Guy Swan's recent roundtable on the core knots and bit44 stuff.

536
00:34:22,433 --> 00:34:23,873
And they get into the social layer.

537
00:34:24,393 --> 00:34:30,352
He finishes with, it's a technical, he says, I think the technical arguments are just a distraction from the social arguments.

538
00:34:31,313 --> 00:34:32,053
I don't know.

539
00:34:32,693 --> 00:34:34,213
The technical implications are pretty big.

540
00:34:34,573 --> 00:34:35,653
They're pretty, pretty big.

541
00:34:36,332 --> 00:34:37,173
Thank you for the boost.

542
00:34:37,173 --> 00:34:39,273
and I'll talk more about those in a moment.

543
00:34:39,473 --> 00:34:43,113
Chance of Dizzy Spells is here with 2,500 sats.

544
00:34:43,313 --> 00:34:43,813
Danger zone.

545
00:34:44,253 --> 00:34:45,332
I think it is the danger zone.

546
00:34:45,393 --> 00:34:46,352
Danger zone.

547
00:34:46,753 --> 00:34:47,753
Thanks for the high signal.

548
00:34:47,933 --> 00:34:49,633
There's a small amount of value in return.

549
00:34:50,013 --> 00:34:52,953
I'm a few shows out, but please stay audio focused.

550
00:34:53,653 --> 00:34:57,073
Visuals like the notes on your nostril count add on would be a bonus,

551
00:34:57,253 --> 00:35:01,393
but I'm finding I have to stop and dry and clean my hands multiple times per show

552
00:35:01,393 --> 00:35:04,593
where we've leaned more heavily into video.

553
00:35:04,593 --> 00:35:16,313
It's just frustrating when I hit rhythm in some tedious chore and then succinctly transported to a realm of self-sovereign contemplation and education to have to stop what I'm doing and drop back into reality and work out what on earth they're talking about.

554
00:35:16,573 --> 00:35:19,313
It makes the task seem much longer and I enjoy the show a bit less.

555
00:35:19,413 --> 00:35:20,193
Anyways, that's my view.

556
00:35:20,693 --> 00:35:21,713
Thanks for the work you put in.

557
00:35:22,473 --> 00:35:24,493
Oh, well, don't worry about it, Chance of Dizzy Spells.

558
00:35:24,993 --> 00:35:31,993
Your boy here got that video distraction thing out of his system many, many years ago and learned the hard way.

559
00:35:31,993 --> 00:35:48,693
So around 2017-ish, all of my shows hard pivoted to audio only, multi-track audio only. And we went from producing live video and just recording that and then exporting out the audio, like you'll see a lot of podcasts do that now stream, like on YouTube.

560
00:35:48,693 --> 00:35:57,473
And we went from just making a video and exporting out the audio to making an audio show that will render out like a video visualizer if you want to watch that.

561
00:35:57,852 --> 00:36:01,113
So that's, you know, that's the lesson I learned 2017, 2018.

562
00:36:01,832 --> 00:36:03,552
And you don't have to worry about that.

563
00:36:03,973 --> 00:36:07,393
That's something I learned the very hard way.

564
00:36:07,493 --> 00:36:08,953
Speaking of things you spent Bitcoin on.

565
00:36:09,273 --> 00:36:10,213
But thank you for listening.

566
00:36:10,293 --> 00:36:11,053
And I totally get it.

567
00:36:11,393 --> 00:36:15,352
You know, I love locking into one subject while I'm choring.

568
00:36:16,053 --> 00:36:18,633
And I don't want 15 minutes.

569
00:36:18,693 --> 00:36:25,093
I want like an hour and I don't want to be interrupted by them talking about some chart that has some intricate lines on it that you can't even see.

570
00:36:25,433 --> 00:36:27,213
So don't worry about it, man.

571
00:36:27,613 --> 00:36:28,413
I feel you.

572
00:36:28,753 --> 00:36:29,613
And you keep on boosting.

573
00:36:29,852 --> 00:36:30,493
Appreciate it.

574
00:36:31,073 --> 00:36:31,713
It is the way.

575
00:36:31,993 --> 00:36:32,733
This is the way.

576
00:36:33,013 --> 00:36:33,293
All right.

577
00:36:33,293 --> 00:36:36,133
Our next boost comes from Nakamoto 6102.

578
00:36:36,213 --> 00:36:37,133
Fun will now commence.

579
00:36:37,133 --> 00:36:40,773
And fun is definitely commencing when he says, thanks for the value.

580
00:36:40,953 --> 00:36:41,993
Well, thank you for the value.

581
00:36:42,173 --> 00:36:43,513
I appreciate that very much.

582
00:36:44,352 --> 00:36:46,993
Ed Broughton's here with 2,345 sats.

583
00:36:46,993 --> 00:36:49,953
I don't understand what the heck is going on here.

584
00:36:50,093 --> 00:36:52,573
He sent me a article on Noster, it looks like.

585
00:36:52,693 --> 00:36:54,793
I will check out because it didn't render in my notes.

586
00:36:55,332 --> 00:36:59,332
But it looks like it's the golden encirclement and how China and then it cuts off.

587
00:36:59,413 --> 00:37:00,793
But I will follow that up.

588
00:37:01,313 --> 00:37:03,933
I do have some China updates later in the show as well.

589
00:37:04,733 --> 00:37:06,233
So maybe, Ed, we're right on sync.

590
00:37:06,493 --> 00:37:07,113
Thank you for the boost.

591
00:37:07,273 --> 00:37:07,773
Appreciate it.

592
00:37:08,173 --> 00:37:09,233
Bob was here with a row of ducks.

593
00:37:10,213 --> 00:37:11,693
2,222 sats.

594
00:37:11,793 --> 00:37:12,993
I found Twib last week.

595
00:37:13,813 --> 00:37:14,993
Hey, hey, hey, hey.

596
00:37:15,233 --> 00:37:15,953
Welcome aboard.

597
00:37:16,993 --> 00:37:19,553
And I've been binging backwards to episode 50.

598
00:37:19,693 --> 00:37:20,273
Love the macro.

599
00:37:20,653 --> 00:37:21,393
Well, thank you, Boba.

600
00:37:21,473 --> 00:37:22,852
Thank you for boosting him very much.

601
00:37:23,033 --> 00:37:24,453
Glad to have you on board.

602
00:37:25,133 --> 00:37:29,873
Kiwi Bitcoin Guide is back with 5,432 sats.

603
00:37:31,332 --> 00:37:32,313
Here's what I think.

604
00:37:32,393 --> 00:37:33,673
Oh, he says, what do you think of BIP44?

605
00:37:33,973 --> 00:37:35,593
If you're interested, go read to the proposal.

606
00:37:36,013 --> 00:37:40,913
BIP44 makes no reference to a decision being made to determine if arbitrary data is objectionable.

607
00:37:41,093 --> 00:37:41,253
Right?

608
00:37:41,313 --> 00:37:41,832
I'll get to that.

609
00:37:42,213 --> 00:37:44,273
This BIP seems unlikely to have legs, though.

610
00:37:44,373 --> 00:37:46,933
But if we're going to debate, it should at least understand it properly.

611
00:37:46,993 --> 00:37:48,073
Here's my two sats worth.

612
00:37:48,493 --> 00:37:52,213
Also, bonus boost for the term nose candy mark in the last episode.

613
00:37:52,413 --> 00:37:53,253
I definitely approve.

614
00:37:54,573 --> 00:37:55,153
No scared.

615
00:37:55,393 --> 00:37:55,973
Thanks, Kiwi.

616
00:37:56,313 --> 00:37:57,373
I always like hearing from you.

617
00:37:57,453 --> 00:38:00,553
And stay tuned on some of my BIP444 follow-up.

618
00:38:00,633 --> 00:38:00,873
All right.

619
00:38:00,913 --> 00:38:01,533
Thank you, everybody.

620
00:38:01,653 --> 00:38:03,493
That's all the sats above 2,000.

621
00:38:03,593 --> 00:38:06,093
We have the 2,000 sat cutoff because, you know, numbers and stuff.

622
00:38:06,133 --> 00:38:07,773
Why you got to put numbers and letters together?

623
00:38:08,053 --> 00:38:09,352
Why can't you just go f*** yourself?

624
00:38:09,533 --> 00:38:10,413
No, it's really for time.

625
00:38:10,753 --> 00:38:14,093
But thank you, everybody, who also streams those sats as another way to support the show.

626
00:38:14,093 --> 00:38:21,673
In fact, 47 of you stream sats and you collectively stacked 47,740 sats for this here podcast.

627
00:38:21,893 --> 00:38:23,013
Thank you very, very much.

628
00:38:23,332 --> 00:38:30,613
When you combine that with our boosters who sent a message, we stacked a total of 237,497 sats.

629
00:38:33,193 --> 00:38:33,993
Thank you, everybody.

630
00:38:34,093 --> 00:38:35,193
I really appreciate that value.

631
00:38:35,293 --> 00:38:36,593
You can boost with Fountain FM.

632
00:38:36,713 --> 00:38:42,832
They make it real easy or any podcasting 2.0 app that supports boosts and you get AlbiHub and you're totally self-sovereign.

633
00:38:42,832 --> 00:38:46,733
Of course, you can subscribe in the Fountain app and support automatically that way with

634
00:38:46,733 --> 00:38:49,752
SATs or Fiat or become a Jupyter.Party member.

635
00:38:57,113 --> 00:39:00,873
All right, I do have a few updates that I want to get into.

636
00:39:01,093 --> 00:39:02,913
Let's start with a Lava update.

637
00:39:03,252 --> 00:39:06,273
I have removed most of my funds from Lava.

638
00:39:06,953 --> 00:39:07,433
Why?

639
00:39:07,973 --> 00:39:11,373
Well, a few red flags that have crossed the line for me personally.

640
00:39:12,073 --> 00:39:16,832
Now that I've gotten a better understanding of what happened to older Lava users before this new line of credit product,

641
00:39:17,133 --> 00:39:22,793
it seems they were moved from what they thought was a self-custody model to a full custody model by Lava.

642
00:39:23,352 --> 00:39:29,332
It turned out Lava had full control of the user's funds the entire time, despite positioning otherwise.

643
00:39:29,953 --> 00:39:35,513
And when they made this transition to a full custody model, they didn't properly communicate it to the users,

644
00:39:35,513 --> 00:39:40,253
and they didn't properly communicate the scope of change, which is a violation of trust.

645
00:39:40,633 --> 00:39:43,673
Second thing is I'm finding issues in the terms of service.

646
00:39:44,213 --> 00:39:49,073
Lava's terms of service seems to read that borrowers certify they're legally allowed to borrow from Lava.

647
00:39:49,593 --> 00:39:51,013
The proof is on the borrower.

648
00:39:51,133 --> 00:39:52,213
That's not really how that works.

649
00:39:52,713 --> 00:39:54,113
From the terms, they say, quote,

650
00:39:54,113 --> 00:40:00,133
You agree and warrant that any use of the interface, the Lava Protocol and Associated Services, is done for business purposes.

651
00:40:00,593 --> 00:40:10,013
The interface is intended solely for business, commercial, and professional purposes and is not intended for personal, household, or consumer use.

652
00:40:10,933 --> 00:40:15,313
So they seem to be trying to shift a lot of the risk to the user, but I don't think that's going to work in court.

653
00:40:15,993 --> 00:40:22,553
And Corey Clipson from Swan's also been pointing out that some of their math doesn't work on their supposed $200 raise.

654
00:40:23,332 --> 00:40:28,113
And it means that they're probably not legally allowed to operate in my home state of Washington.

655
00:40:28,352 --> 00:40:33,553
Much like Strike can give a loan to a business in Washington, but not to a pleb, they cannot.

656
00:40:33,553 --> 00:40:37,293
The third thing that I've noticed is I've seen some reports of stablecoin issues.

657
00:40:37,293 --> 00:40:41,213
So people try to put money in there and then try to take it out via stablecoin.

658
00:40:41,533 --> 00:40:49,873
And they expected to receive USDC on the receiving side, only to receive lava coin that you can't do anything with.

659
00:40:50,133 --> 00:40:53,513
And when they contact support, they're told to wait a few days.

660
00:40:53,933 --> 00:40:56,493
It also seems like perhaps they're co-mixing user funds.

661
00:40:57,233 --> 00:41:00,393
I don't like that they seem to reuse the same Bitcoin deposit address.

662
00:41:00,873 --> 00:41:04,573
And when you do some mempool sleuthing, which was done, I'll link to that in the show notes,

663
00:41:04,573 --> 00:41:13,533
They seem to be keeping some of their funds in a hot wallet and then they send some of the funds over to Kraken and then they kind of move them back and forth as liquidity is needed.

664
00:41:14,073 --> 00:41:15,852
All of that makes me a little uncomfortable.

665
00:41:16,313 --> 00:41:20,513
I'm hopeful Strikes product will be available soon with a credit card in front of it shortly after that.

666
00:41:21,053 --> 00:41:31,449
And I also hopeful that Lava can explain some of this because the line of credit product with a credit card is a game changer for long Bitcoin holders They could put a little bit of a stash in there But for now I hitting pause

667
00:41:31,949 --> 00:41:40,469
I'm going to keep a few hundred dollars, a couple, literally $200 of funds in there just to keep an eye on things and maybe qualify for the card if they do it so I can continue to follow it.

668
00:41:40,469 --> 00:41:45,909
But right now, I am putting it in the not recommended column as far as Bitcoin services go.

669
00:41:46,029 --> 00:41:48,129
I'm hopeful and I will monitor it and report back.

670
00:41:48,129 --> 00:41:51,509
but there's too many red flags for me personally to recommend it to you.

671
00:41:51,549 --> 00:41:53,549
So I'd say avoid it for now.

672
00:41:53,849 --> 00:41:57,709
And if you've tried it, report in and you can be on the front line right with me.

673
00:41:57,969 --> 00:41:59,269
And I'd love to hear your take.

674
00:42:01,289 --> 00:42:07,929
SoFi on the other side of the spectrum, we go from the Wild West to fully regulated banks.

675
00:42:08,449 --> 00:42:13,949
SoFi seems like they're going all in on Bitcoin holding and a few other assets.

676
00:42:14,229 --> 00:42:16,569
New this morning, we got the guy at the desk.

677
00:42:16,569 --> 00:42:19,389
SoFi launching crypto trading on its platform.

678
00:42:19,529 --> 00:42:23,249
Joining us right now, first on CNBC, is SoFi's CEO, Anthony Noto, in town.

679
00:42:23,749 --> 00:42:24,949
Nice to see you, sir, in person.

680
00:42:25,189 --> 00:42:25,869
Good to see you as well.

681
00:42:25,969 --> 00:42:26,949
Okay, so what's going on here?

682
00:42:26,989 --> 00:42:27,729
This is a big deal.

683
00:42:27,849 --> 00:42:28,529
Yeah, this morning.

684
00:42:28,749 --> 00:42:29,149
It's a very big deal for you.

685
00:42:29,169 --> 00:42:30,129
It is a very big deal.

686
00:42:30,209 --> 00:42:31,589
It's a big day and a big milestone.

687
00:42:31,869 --> 00:42:33,389
It reverses the course of time.

688
00:42:33,529 --> 00:42:33,789
It does.

689
00:42:33,889 --> 00:42:36,969
We've wanted to be a one-stop shop for all your financial services needs.

690
00:42:37,069 --> 00:42:39,989
And one of the holes we've had for the last two years was in cryptocurrency,

691
00:42:40,309 --> 00:42:42,429
the ability to buy, sell, and hold crypto.

692
00:42:42,909 --> 00:42:44,769
We were not allowed to do that as a bank.

693
00:42:44,809 --> 00:42:45,629
It was not permissible.

694
00:42:45,629 --> 00:42:52,629
But in March of this year, the OCC came out with an interpretive letter that it's now permissible for banks like SoFi to offer cryptocurrencies.

695
00:42:53,449 --> 00:43:02,569
So this morning we're launching as the only national bank, the first and only national bank, the opportunity to buy, sell and hold cryptocurrencies like Bitcoin, Ethereum and Solana.

696
00:43:02,829 --> 00:43:04,789
So I was going to ask, are we just talking about three for now?

697
00:43:05,069 --> 00:43:08,829
We'll expand well beyond three. It'll be a pretty broad assortment.

698
00:43:08,949 --> 00:43:13,429
We try to differentiate on being fast, having broad selection, great prices, ease of use.

699
00:43:13,429 --> 00:43:17,369
So we'll try to give members, SoFi members, as much selection as they would like.

700
00:43:17,369 --> 00:43:23,269
And what's the difference between going through you and going through Coinbase, you're going through Robinhood or somebody else?

701
00:43:23,609 --> 00:43:25,149
Yeah, there's a couple of really big differences.

702
00:43:25,329 --> 00:43:36,329
First, we're a nationally chartered bank, which means we have the infrastructure, the processes, the financial conditions that provides the safeguards that a consumer would expect from a bank, which is going to allow us to scale responsibly.

703
00:43:36,729 --> 00:43:41,549
The second thing is because we are a one-stop shop, you can do all your banking, checking and savings at SoFi,

704
00:43:41,929 --> 00:43:44,149
your borrowing and your investing, and now crypto.

705
00:43:44,709 --> 00:43:49,549
And one of the unique things about that is when you come to SoFi and fund your crypto investments,

706
00:43:49,669 --> 00:43:51,829
you'll fund them in a SoFi checking and savings account.

707
00:43:52,269 --> 00:43:55,049
That checking and savings account deposits earn interest.

708
00:43:55,169 --> 00:43:57,009
Say that again. You're going to fund it with crypto?

709
00:43:57,309 --> 00:43:58,109
You're going to fund it.

710
00:43:58,109 --> 00:43:58,769
By your checking account.

711
00:43:58,769 --> 00:44:00,509
You're going to fund your checking account with cash.

712
00:44:00,509 --> 00:44:07,169
And then when you buy Bitcoin or Solano or Ethereum, the money will come straight out of your checking savings account.

713
00:44:07,349 --> 00:44:13,529
So when you're not putting cash to work, it's not sitting in an account that earns no interest and it's not sitting in an account that's not insured.

714
00:44:13,849 --> 00:44:18,129
Okay, so what I don't like is they don't know how to differentiate the coins necessarily.

715
00:44:18,389 --> 00:44:20,389
They're not just picking a winner.

716
00:44:21,169 --> 00:44:29,249
What I do like is this kind of integration, while maybe not necessarily appealing to you, it's probably appealing to someone you know.

717
00:44:29,809 --> 00:44:30,709
Many people you know.

718
00:44:31,389 --> 00:44:35,649
And so I think this is going to be a very compelling product for a certain consumer base.

719
00:44:35,809 --> 00:44:41,109
And it also, it makes purchasing so much simpler if it's connected directly to your checking account.

720
00:44:41,749 --> 00:44:46,109
One of the things that sucks, at least in the States, I think it's probably better in places like Canada and the EU.

721
00:44:46,489 --> 00:44:50,049
But in the States, it can take three days to transfer funds.

722
00:44:50,049 --> 00:44:57,389
I'll have people that will contact me and be like, Chris, I bought some sats to boost you, but it's been five days and I don't have access to move them.

723
00:44:57,389 --> 00:45:01,869
It's because the backing platform like Strike is waiting for the fiat funds to clear.

724
00:45:02,609 --> 00:45:06,849
So it's just it's a really slow and old process right now.

725
00:45:06,989 --> 00:45:10,789
And so if it's just connected directly to your checking account, it's an instant transfer.

726
00:45:11,589 --> 00:45:13,729
You know, that's going to make some smash buys a lot easier.

727
00:45:14,189 --> 00:45:15,769
So I'm really pleased to see it.

728
00:45:15,829 --> 00:45:16,789
Curious to hear your take.

729
00:45:17,649 --> 00:45:18,169
All right.

730
00:45:18,189 --> 00:45:24,589
Let's talk about the reduced data temporary soft fork or bit 444 as some folks go to it.

731
00:45:24,589 --> 00:45:30,489
So I am still developing my understanding because there has been an update, which I'll link in the show notes, to the draft.

732
00:45:31,029 --> 00:45:32,589
And I want to get into all of this.

733
00:45:33,109 --> 00:45:37,269
So my new understanding is that there isn't any active content scanning.

734
00:45:37,469 --> 00:45:44,729
It uses mechanical limits and rules to make certain data heavy or misuses, spam uses, invalid.

735
00:45:45,209 --> 00:45:48,589
It doesn't classify or detect any types of content.

736
00:45:48,589 --> 00:45:56,769
Its stated aim is to restrict arbitrary large data at the consensus level to make sure that Bitcoin stays money and not data storage.

737
00:45:57,049 --> 00:45:58,769
They're not analyzing the data.

738
00:45:58,889 --> 00:46:02,629
They're rolling back the ability to store this data.

739
00:46:03,089 --> 00:46:09,209
The way it gets actually adopted is the rules get adopted by node operators via updates to your node.

740
00:46:09,849 --> 00:46:12,529
So if you're on NOTs, you would have to update the latest version of NOTs.

741
00:46:12,629 --> 00:46:16,109
If you're on core and you want these rules, you'd have to switch to NOTs.

742
00:46:16,109 --> 00:46:20,289
any significant subset of miners or nodes that refuse the rule change,

743
00:46:20,489 --> 00:46:25,069
or if the rule change requires invalidating past transactions, which as it stands right now would,

744
00:46:25,729 --> 00:46:30,069
then you're probably looking at a hard fork scenario, not just a clean soft fork upgrade

745
00:46:30,069 --> 00:46:33,089
like everybody keeps talking about it. My personal opinion, but that's the way it's going to go

746
00:46:33,089 --> 00:46:36,949
if they don't solve for the fact that it invalidates certain important past

747
00:46:36,949 --> 00:46:44,469
transactions. There's also a number of these that I think are a moral question. Who has the right to

748
00:46:44,469 --> 00:46:51,129
take even one SAT from anyone. Many of the P2K-PK and P2MS outputs are going to be completely

749
00:46:51,129 --> 00:46:55,809
invalidated by this. And it disables a whole bunch of upgrade hooks and upgrade paths that people

750
00:46:55,809 --> 00:47:00,009
have been talking about for the future. Now, there is a new draft, like I talked about, and it does

751
00:47:00,009 --> 00:47:05,429
fix a few things. It takes out some of the legal language that seemed kind of like a scare tactic.

752
00:47:06,229 --> 00:47:12,829
And they're mostly just calling it now the Reduced Data Temporary Softwork, or UASF, I should say,

753
00:47:12,829 --> 00:47:16,949
U-A-S-F, the Reduced Data Fork, or R-D-T-S.

754
00:47:17,429 --> 00:47:19,229
Not so much BIP444.

755
00:47:19,529 --> 00:47:22,589
Now, Luke, he maintains that it's still BIP444,

756
00:47:22,709 --> 00:47:24,449
but other BIP editors have disputed that.

757
00:47:24,529 --> 00:47:25,649
So right now, everybody's just calling it

758
00:47:25,649 --> 00:47:27,349
the Reduced Data Temporary Soft Fork.

759
00:47:27,929 --> 00:47:32,709
And, you know, maybe it becomes BIP4444444.

760
00:47:32,849 --> 00:47:34,129
Or, you know, maybe, who knows?

761
00:47:34,809 --> 00:47:36,129
It does seem like it's adjusting

762
00:47:36,129 --> 00:47:37,269
to be slightly more reasonable.

763
00:47:37,769 --> 00:47:38,489
I like that.

764
00:47:39,069 --> 00:47:40,369
But I still think we have to be real

765
00:47:40,369 --> 00:47:41,269
about what's happening here.

766
00:47:41,269 --> 00:47:45,969
This is the community deciding to freeze a Bitcoiner's coins.

767
00:47:46,869 --> 00:47:52,169
So if you're going to do that, I think it has to be spelled out in real plain English when people are updating their nodes to do this.

768
00:47:52,809 --> 00:47:57,369
This fork will stop X number of UTXOs from moving for one year.

769
00:47:57,789 --> 00:47:59,909
That is no small thing.

770
00:48:00,009 --> 00:48:02,249
That's a massive, massive issue.

771
00:48:02,689 --> 00:48:05,969
And some groups are trying to make this a right wing, left wing thing.

772
00:48:05,969 --> 00:48:17,709
It's not. It's about taking property and about clearly and plainly spelling it out that if we make a fork like this, X amount of UTXOs will be immovable for a year.

773
00:48:19,409 --> 00:48:21,489
All right, let's talk about Bitcoin in China.

774
00:48:21,609 --> 00:48:28,449
I didn't think this would be a topic, but if you caught episode 80, you might remember I played this kind of oddball clip from Trump.

775
00:48:28,809 --> 00:48:32,049
Now, China is getting into it very big right now.

776
00:48:32,049 --> 00:48:37,369
Now, if you want to go after people, you're going to kill that industry and it'll be very bad.

777
00:48:38,289 --> 00:48:39,589
Tremendous number of jobs.

778
00:48:40,069 --> 00:48:42,049
He's talking, of course, about Bitcoin in China.

779
00:48:42,169 --> 00:48:43,109
And then later on in the clip.

780
00:48:43,209 --> 00:48:47,829
An industry where basically you're going to have number one and you're not going to have a number two.

781
00:48:48,029 --> 00:48:50,169
And right now we're number one by a long shot.

782
00:48:50,229 --> 00:48:51,089
I want to keep it that way.

783
00:48:51,249 --> 00:48:55,229
The same way we're number one with AI, we're number one with crypto.

784
00:48:55,349 --> 00:48:56,509
And I want to keep it that way.

785
00:48:56,509 --> 00:48:57,909
He was talking about China.

786
00:48:58,029 --> 00:49:00,689
And I thought, since when has this been a thing?

787
00:49:00,689 --> 00:49:18,949
I don't really know. Well, this week, China accused the U.S. of stealing 127,000 Bitcoin in a cyber attack. Yeah. OK, so let me give you the original story. We go back here to 2020. It's another stay a while and listen.

788
00:49:18,949 --> 00:49:20,089
Stay a while and listen.

789
00:49:20,729 --> 00:49:28,989
So in December of 2020, about 127,000 Bitcoin were stolen from Lubain Mining Pool, which is a Chinese-run Bitcoin operation.

790
00:49:29,489 --> 00:49:32,529
They had facilities in China and some facilities in Iran.

791
00:49:33,109 --> 00:49:39,809
And the exploit targeted a weak wallet key generator, only 32 bits of entropy in there, making the private keys brute forcible.

792
00:49:40,309 --> 00:49:44,429
Not a particularly clever but, you know, effective hack.

793
00:49:44,429 --> 00:49:48,149
and the stolen coins then stayed mostly dormant for nearly four years.

794
00:49:48,269 --> 00:49:49,889
Not really anything happened to them.

795
00:49:50,529 --> 00:49:55,089
And then in mid 2024, the stolen Bitcoin began to move again into new wallets.

796
00:49:55,789 --> 00:49:58,089
And Bitcoin analytic firms like Arkham Intelligence

797
00:49:58,089 --> 00:50:01,989
later traced those wallets to the U.S. government.

798
00:50:02,569 --> 00:50:04,669
By October of this year, 2025,

799
00:50:05,329 --> 00:50:08,829
the U.S. Department of Justice confirmed the seizure in a civil forfeiture case

800
00:50:08,829 --> 00:50:13,089
targeting the Cambodian businessman Shai Zen, the chairman of the Prince Group.

801
00:50:13,549 --> 00:50:24,249
Shai Zen and his network were accused of running a massive pig butchering investment scam, which you may have heard of recently, including other things like wire fraud, money laundering operations and forced labor compounds.

802
00:50:24,889 --> 00:50:26,509
So they took the money from them.

803
00:50:26,829 --> 00:50:31,169
The Chinese government says it's theirs as the dispute is actually escalating to diplomatic levels now.

804
00:50:31,229 --> 00:50:34,169
And both countries are using technical language to make political points.

805
00:50:34,169 --> 00:50:42,029
The U.S. insists the seizure was legitimate, while China frames it as an abuse of legal mechanisms and a form of digital theft.

806
00:50:43,089 --> 00:50:47,469
So these Bitcoin are becoming a bit of a geopolitical issue between China and the U.S.

807
00:50:48,169 --> 00:50:49,949
And here's why.

808
00:50:50,509 --> 00:50:54,949
These funds, if my math is right, would be nearly 40% of what would make up the U.S.

809
00:50:55,029 --> 00:50:55,749
Strategic Reserve.

810
00:50:56,289 --> 00:50:58,569
There's no way the U.S. wants to give that up.

811
00:50:59,049 --> 00:51:00,389
Nearly 40%.

812
00:51:00,389 --> 00:51:05,369
And so you have to wonder at what levels this is coming up if Trump is mentioning it in

813
00:51:05,369 --> 00:51:05,769
interviews.

814
00:51:06,129 --> 00:51:08,089
And then we see China making these claims.

815
00:51:08,909 --> 00:51:11,729
This could get interesting because I don't think they're going to want to give up 40%

816
00:51:11,729 --> 00:51:12,329
of the reserve.

817
00:51:13,089 --> 00:51:30,829
Well, speaking of China, Dan Moorhead, he's an American investor, an entrepreneur, and

818
00:51:30,829 --> 00:51:32,789
a hedge fund manager.

819
00:51:33,089 --> 00:51:39,209
He's the founder and managing partner of Pantera Capital, and he thinks China is going to buy

820
00:51:39,209 --> 00:51:45,889
more Bitcoin, perhaps why they want this Bitcoin back, as a hedge, a hedge to protect themselves

821
00:51:45,889 --> 00:51:50,169
against the weaponization, as China sees it, of the U.S. dollar.

822
00:51:50,609 --> 00:51:54,549
Oh, I think it's pretty obvious that the countries that are adversaries of the U.S.

823
00:51:55,469 --> 00:52:00,429
will ultimately buy Bitcoin and potentially other coins, but I would say at least start with Bitcoin.

824
00:52:01,109 --> 00:52:07,089
And so I think I think there's gonna be an arms race. Right. And there'll be like Dr. Strangelove,

825
00:52:07,089 --> 00:52:12,029
strategic mineshaft gap, right? Like it's going to be a real race. And as you know,

826
00:52:12,189 --> 00:52:16,089
there's only 21 million. And if a bunch of people all want to buy a million each,

827
00:52:16,809 --> 00:52:20,289
it's not enough to go around, right? And there again, that's why I'm so bullish because

828
00:52:20,289 --> 00:52:26,709
there's just not enough Bitcoins to satisfy countries' desires. I think the US has 200,000

829
00:52:26,709 --> 00:52:29,269
Bitcoins just, you know, from confiscations, kind of a random.

830
00:52:29,529 --> 00:52:31,009
And China has roughly the same, I think.

831
00:52:31,029 --> 00:52:35,689
Yeah, and China has roughly the same. I mean, no problem seeing them wanting to buy a million

832
00:52:35,689 --> 00:52:43,089
bitcoins you know yeah i mean it's still tiny compared to their balance sheets budgets all that

833
00:52:43,089 --> 00:52:47,569
stuff and so if you you have two three four like say the gc wants to buy a million china wants to

834
00:52:47,569 --> 00:52:52,869
buy a million maybe russia wants to buy some us like it's gonna squeeze up like a watermelon seat

835
00:52:52,869 --> 00:53:10,869
Let's check in on the state of the network as I'm wrapping up at block height 923,349.

836
00:53:10,869 --> 00:53:19,029
Now, the Bitcoin price, one Bitcoin to US dollar, 101,780, hovering right above 100,000.

837
00:53:19,029 --> 00:53:23,389
That puts our sats per dollar at 983 sats to one U.S. dollar.

838
00:53:24,609 --> 00:53:31,909
We're down in proper correction territory at 19% down from our all-time high, which was $126,000 37 days ago.

839
00:53:32,629 --> 00:53:36,089
October 6th, a long 37 days.

840
00:53:36,769 --> 00:53:38,869
Difficulty adjustments have been all over the place.

841
00:53:39,029 --> 00:53:44,029
Now at an upward adjustment of 10% next target date, November 26th.

842
00:53:44,769 --> 00:53:46,009
Let's check in on the nodes.

843
00:53:46,009 --> 00:53:52,149
Core 30 flirting with 10% this week now at 9.4%.

844
00:53:52,149 --> 00:53:53,409
It's fluctuated quite a bit.

845
00:53:54,609 --> 00:54:00,549
Followed closely by Noughts 2025-1010 at 9.1%.

846
00:54:00,549 --> 00:54:04,789
With Core 28.1 having the majority of the network at 10.8%.

847
00:54:04,789 --> 00:54:13,909
We've got three Noughts nodes on there and Core 30 though now has 2,243 nodes by my count.

848
00:54:13,909 --> 00:54:18,349
That makes the total reachable Bitcoin nodes 23,739.

849
00:54:29,329 --> 00:54:32,489
Well, if you made it this far, you should probably check out the links in the show notes.

850
00:54:32,589 --> 00:54:34,909
There's always more there this week in Bitcoin.show.

851
00:54:35,389 --> 00:54:40,629
A bunch of other great Jupyter broadcasting shows there as well as like Linux Unplugged.

852
00:54:41,009 --> 00:54:43,709
You also got the launch, which I highly recommend.

853
00:54:43,709 --> 00:54:49,409
It's a little fun. Nice distraction. But back to this year's show. Let me know how I did. I try to

854
00:54:49,409 --> 00:54:53,569
make a show that doesn't get distracted. I touch on the issues caused by politics, but not the

855
00:54:53,569 --> 00:54:58,169
emotions around them. And I think that's important because that signal, that information you need as

856
00:54:58,169 --> 00:55:02,569
a Bitcoiner to plan. So let me know how I did with a boost or anything I missed or additional

857
00:55:02,569 --> 00:55:06,709
things you'd like to see covered. Go ahead and boost those into the show. I always appreciate

858
00:55:06,709 --> 00:55:12,029
all that. And I'm going to wrap you up with a value for value track this week, as I do. This

859
00:55:12,029 --> 00:55:14,569
This one is from Suzanne Santo

860
00:55:14,625 --> 00:55:16,665
track new all along.

861
00:55:44,625 --> 00:55:47,065
But it's gonna hurt forever

862
00:55:47,065 --> 00:55:50,225
Being who you are

863
00:55:50,225 --> 00:55:53,685
But you knew all along

864
00:55:53,685 --> 00:55:56,945
That you weren't like the other ones

865
00:55:56,945 --> 00:55:59,465
And you knew all along

866
00:55:59,465 --> 00:56:02,605
That half the time you have to run

867
00:56:02,605 --> 00:56:05,285
And you knew all along

868
00:56:05,285 --> 00:56:08,105
That love would leave you still

869
00:56:08,105 --> 00:56:10,865
And you'd be another level down

870
00:56:10,865 --> 00:56:13,905
From leveling up

871
00:56:13,905 --> 00:56:19,125
She said they're crowning you a queen

872
00:56:19,125 --> 00:56:22,025
Thought you're turning your back

873
00:56:22,025 --> 00:56:25,185
Do you know what I mean

874
00:56:25,185 --> 00:56:27,765
When I say you're living in lack

875
00:56:27,765 --> 00:56:30,525
But you don't need to suffer, honey

876
00:56:30,525 --> 00:56:33,945
You can just relax

877
00:56:33,945 --> 00:56:37,045
Cause you knew all along

878
00:56:37,045 --> 00:56:40,085
You weren't like the other ones

879
00:56:40,085 --> 00:56:42,965
You knew all along

880
00:56:42,965 --> 00:56:46,125
Half the time you left to run

881
00:56:46,125 --> 00:56:48,685
You'd never want it on

882
00:56:48,685 --> 00:56:51,365
That luck would leave you stunned

883
00:56:51,365 --> 00:56:54,445
And you'd be another level down

884
00:56:54,445 --> 00:56:57,345
From leveling up

885
00:56:57,345 --> 00:57:05,573
From leveling up From leveling up From leveling up For level in it For level in it

886
00:57:29,313 --> 00:57:36,413
You knew all along that you were like the other ones you knew.

887
00:57:37,853 --> 00:57:43,373
You would have to ride and do all along.

888
00:57:44,133 --> 00:57:46,153
The love would leave you stunned.

889
00:57:46,533 --> 00:57:49,093
Then you'd be another level down.

890
00:57:50,013 --> 00:57:52,673
Leveling down.

891
00:57:54,493 --> 00:57:56,833
You're going out to level up.

892
00:57:57,773 --> 00:57:59,273
You're going out to level up.

893
00:57:59,313 --> 00:58:04,533
You're gonna have to live with you

894
00:58:29,313 --> 00:58:53,773
We'll see you next time.