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folks welcome back to the bugle weekly and before we get in the show just want to give a

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just remember john c devorek and what he has done for podcasting he was the co-host of no agenda and

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just died last week leaving adam curry with some you know massive shoes to fill and i don't know

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if Adam is going to be able to fill his shoes or what,

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but John C. Dvorak, true pioneer in the broadcasting world,

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really growing podcasting.

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You know, No Agenda is a very, very, very influential, famous podcast.

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I wouldn't call it a Bitcoin podcast, but it's a Bitcoin podcast adjacent.

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And yeah, him and Adam really were the pioneers of promoting, growing, creating this idea of value for value.

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You know, they did it in the most boomer way possible where people would mail them checks every week or month or year instead of doing fathom boost.

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but if you're a listener to no agenda

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do you know how big of a deal this is that he's gone and i i think this really marks

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in many ways the end of the era we're watching a huge shift happen now as many boomers are

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dying off some of them are clutching onto life as long as possible some of them we like some of

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like John, he was a good boomer.

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Some of them we don't like, like Lindsey Graham.

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He was a bad boomer.

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But we're seeing this massive shift.

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And as we all know, Generation X is not going to pick up the mantle.

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It's going to be left to the hands of the millennials,

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the broccoli haircuts, and even Generation Alpha.

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The kids that are still singing Baby Shark are going to have to fix the future

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where Gen X is failing.

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And, I mean, we're seeing this clearly now.

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Rod, you know, you've been monitoring the situation of the boomers crashing out in spaces.

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It seems like it's getting out of control over there.

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Are you seeing this massive shift happen where the boomers are up?

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Yeah, we predicted that this would be the summer of crash outs.

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We predicted that the crash outs would accelerate and that he would be at a unprecedented pace.

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But we didn't predict, and I don't know if either of us foresaw, that the crash outs would be so targeted to a single age demographic.

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And it's the boomers.

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The boomers are crashing out left and right.

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And I don't, I mean, maybe we can get into why.

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So maybe that's where we start.

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Why do you think that the crash outs have been so focused on the boomers?

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Because I thought we were going to see a lot from broccoli haircuts because why not, right?

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Like the cards are stacked against the broccoli haircuts right now.

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They can't buy a house.

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They can't afford a house.

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They can't afford, you know, some of them are still going to college, but they're just getting saddled with debt.

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They can't get a job because they're not as productive as Claude or Chad J.P.T.

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They can't afford Bitcoin.

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They can't afford anything.

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They can't afford to do anything except for, I don't know, crash out.

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And some of them are, like you go to the cities, you go to the urban centers, you've got what

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Tim Dillon talked about this a few weeks ago, these flash mobs where it's just, they're

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just committing crimes and violence and twerking and just doing all this nonsense for the simple

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reasons they want to go viral.

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They want to be viral on social media.

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They want to be on video curb stomping, you know, somebody from the Proud Boys or Antifa or whatever.

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And so there are isolated crash outs from the brothel air cuts.

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The millennials, again, like they've always been crashing out.

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They're crashing out over words coming back that we're supposed to, you know, the most offended generation in history, the millennials.

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They're always crashing out about being offended.

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And then you got Gen X who they're crashing out at a very high rate, but again, Gen X just doesn't matter. It's like the least, it's the least consequential generation, perhaps in American history, the least interesting, the least funny, the least culturally relevant, the least willing to take self-responsibility and personal accountability for anything.

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uh they just want to reminisce on how great fight club was how fate how great stuff you know

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the matrix was argue over what's better star trek or star war uh talk about how great comic books

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were how they went and saw the band tool got went to a fish concert a grateful dead concert like okay

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whatever like you obviously you're in the you're not even in the fourth turning yet you're still in

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third turning when you peaked but the boomers and i don't know is it because their social security's

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not keeping up with inflation is it because they're losing all their social security at

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slot machines in vegas is it because their house right house prices were going not going up as high

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as they thought and they can't sell it so they can go to vegas again like why are the boomers

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is crashing out so hard.

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I think it's a few things.

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I think it's because they want the Fed

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to lower interest rates and issued a sense of security.

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But I mean, I think this is,

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the boomers are crashing out for the same reason that many Bitcoin people are crashing out is that they bought into the slop a little bit too hard And they thought the world would look a certain way and it doesn look the way that they want it to

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And, you know, like the boomers are just like many Bitcoin people where they are really like OK with this idea of everything collapsing around them as long as they're rich and comfortable.

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And, you know, many Bitcoin people are like, oh, you know, we have been DCAing on SWAN.

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We're going to be, you know, rich for the rest of our lives.

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We're going to watch everybody else have fun staying poor.

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And life is going to be, you know, great and easy for us.

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That's what, you know, many of the boomers did is they thought that, you know, they could work and, you know, take two weeks off vacation.

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once or twice a year and, you know, be able to have a social security check to gamble away

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at slot machines and sit in Twitter spaces all day and, you know, argue about the weather.

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And instead, it seems like everything, you know, that they were betting on is

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changing and collapsing around them. I mean, like these, these people grew up believing

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the moon landing was real their whole lives and now that's in jeopardy they they believe that

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anybody that believed in aliens was an idiot and now you know it's like mainstream to to talk about

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aliens or at least the government saying that there's aliens yeah i think i think it really

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boils down to a couple of different buckets.

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But I think you've got to start with the average boomer had,

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I mean, they were all born on third base,

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and they thought, you know, with life handed to them on a silver platter.

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There was a study that came out the other day that somebody earning minimum wage

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in 1971 had the same affordability and quality of life

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as somebody who makes six-figure salary today.

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You were able to work as, you know, a cobbler's assistant

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at the local strip mall, part-time, making minimum wage,

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and you could afford a 4,000 square foot house, two cars,

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you could have five kids.

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You know, you just put your money in bonds in the 1980s to the, you know, 2020,

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and you're able to retire.

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Boomers were born with life handed to them on a silver platter.

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It was the ultimate, you know, basically it was the Cold War, but really United States was the main economic and military superpower, especially in this, you know, as they got towards their adult life.

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They lived through globalization and the outsourcing of, you know, a lot of boomers alive today.

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They didn't have to work in a factory their whole lives.

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Most of them got to get an email job when the internet was invented and we sent all the jobs to Mexico and China.

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They didn't have to work hard.

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They barely had to be able to learn how to use the internet and still become executives and corporations.

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But the problem is that they were born with this unique, in this like Goldilocks zone of having the easiest life of any human generation to ever live.

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But they didn't realize it.

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It's like the quote where the fish is like the old fish swims by the young fish and says, good morning, boys.

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How's the water today?

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And the young fish, because they just, they're so in murder.

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You can't see the forest for the trees.

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They're like, what is water?

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The boomers didn't realize how easy they had it until the millennials and the Gen Xer or the Gen Z, the broccoli aircuts, started to point it out to them.

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started to mock them and say how, you know,

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they were able to buy a house for a carton of blueberries back in the 1960s

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and 70s.

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And they started to reflect on their lives and they realized that they missed

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out on a shitload of glaze.

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Like they're seeing all the glaze going around.

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They're seeing all the, like all the things that they, you know,

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you can't really say that every boomer had the easiest life and just got rich

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on accident by trusting the government but many did and the ones who didn't are looking back and

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they're kicking themselves they're like why didn't i just buy a 20-year government bond in 2000 or

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1981 why didn't i just buy a bunch of houses with the spare change under my sofa and did sell them

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you know in in the early 2020s like why did i mess up and and so they're like living this

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You have like midlife crises. Well, boomers are having end life crises where they didn't get it didn't take advantage of all the just unprecedented once in a general, you know, once in a millennia opportunity that they had living in the easiest times of human history.

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And the other thing is that they're coming to this realization that they missed, you know, they were too young to miss the last chopper out of Vietnam.

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And they may have missed the last opportunity to be self-sovereign in this era, in this accelerated, first-turning environment that we live in.

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And so they're desperately clasping to the one opportunity they can have to be self-sovereign, which is being a node runner.

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And they've been sold this narrative that running a node makes you a self-sovereign individual.

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And they're finding out that maybe it's more complicated than that.

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Maybe a pled note is not just a,

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you know, you don't just give Start9 $1,000

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and now you're self-sovereign

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because you have a Start9 pled note.

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And being who they are,

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boomers who were coddled

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and had the easiest lives of all time,

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like they don't like being told no.

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Boomers are not being used to being told no and these younger generations are now saying to the boomers no Totally Yeah I mean I think they had these expectations that life was going to look a certain way right

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And, you know, they began to ask questions.

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Like, they never thought about self-sovereignty being, you know, a topic discussion because it was just inconvenient, and they had everything handed to them.

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And so the default was always choosing convenience, but now things are becoming more inconvenient.

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And self-sovereignty makes more sense and is more attractive to consider.

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But self-sovereignty is difficult because many of them, they have old bodies that can't handle self-sovereignty.

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They can't handle waking up every morning and attending to, you know, the chickens and, you know, going out for hours and hours and mending fences in the wilderness.

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And so, yeah, I mean, they're looking at node running as a potential way to attain that experience of being self-sovereign.

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but they they don't there there's a a technological illiteracy that they all have

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they don't know how to use their iphone absolutely absolutely they don't know how to use their

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iphone they don't know how to talk to chat gpt they talk to chat gpt like it's a server at a

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restaurant and we've all been with doomers who try to talk to or try you know the slightest

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inconvenience and they're crashing out at the waitress at tgi fridays and they do the same

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thing with chat gpt they do the same thing with ai they crash out and they spend all their tokens

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crashing out instead of using ai to build something valuable to create a framework that they can use

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that they can scale their self-sovereignty on and then you you know going back to this point of like

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nobody was telling the boomers no one of the biggest crash out stories on the timeline right

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now is puncher it goes by you know puncher like what five two two or something and if you if you

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if you're on the timeline you're in the group chats you know what i'm talking about puncher is

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is a is in maxi madness he was in the playing rounds he is a a staple in the spaces especially

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the morning and evening bitcoin spaces on on x formerly twitter and he's just this has been a

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weeks-long crash out.

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And we, you know, come to find out.

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I mean, it's in his bio.

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It's not going to be Doc's the guy.

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He used to be in the military, and he was a fighter pilot,

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which means you're an officer.

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So this guy was used to walking around

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and being saluted by plebs everywhere he went,

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saluted by everybody.

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It was mandatory.

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You had to be saluted.

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You had to be glazed.

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And he's kind of, he's now in this wild,

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he's on the frontier.

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on Bitcoin Twitter.

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And people are not glad.

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I mean, you've got Timothy Bitcoins

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who's constantly dunking on him.

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Vinny Bitcoins constantly dunking on him.

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He's got Mars running circles around him

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in the group chats.

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And Mars ganged up with David Daly

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to get Hunter to rage quit.

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Mama Humbles her chat recently.

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And it's just this narrative shift.

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Like a boomer

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who was in the military.

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I mean, support the troops, right?

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Like so much glaze that was just,

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it was institutional glaze that he felt entitled to.

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Young people did not talk back to him.

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And now he's got, he's just got everybody talking shit.

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Nobody cares anymore.

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Nobody has any respect anymore.

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And he can't handle it.

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And he's trying to pull up these examples of the revolutionary war

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and the 3% and the support the troops narratives.

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And it's just those narratives, those are fourth turning, third turning narratives.

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They don't work anymore.

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And it's just very difficult for these boomers to handle getting talked back to

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and just not getting respect, you know, by default.

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Totally.

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Well, I mean, it's like one of the reasons why Gen X is so useless as a generation

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is it's very clear that they're useless as a generation because the boomers are still in power

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and like the boomers have grown accustomed to this idea of younger generations just being kind of

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subservient to them and going along with whatever they they say or by default without really

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questioning it and and why do they do that is because you know the boomers have held the money

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printers essentially you know gen x you know they're like okay if i just like shut my mouth

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and do what I told them and be handed a mortgage

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and then I can afford to buy a house.

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And the problem with the younger generations

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is the money printer isn't as accessible to them

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and they just don't really care, right?

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And so they're doing what is natural,

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what Gen X should have done in the first place,

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which is rip the power out of the boomer's hands.

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because this is this is part of like the natural order of things right is younger generations

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taking control of the reins of power from the older generation you go and you watch old movies

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like what happens all the time it's you know the the sinister crazy you know son or nephew or

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whatever like poisons their dad to like become king you know in a power struggle with you know

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the brother you know there there's all of those things that that happen eventually like what how

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does power work ultimately the the strong hold on to it and it's very clear you know the boomers are

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not like strong physically or mentally now oh this is this this is where it comes full circle

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the gen x was simultaneously the most neglected generation of all time and the most compliant because they saw how easy their boomer parents had it and they said i not gonna fight it i just gonna go along

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with go with the flow watch mtv and i'll get what my boomer parents had and they didn't get it but

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it's too late for them now gen x they did not cultivate a habit of being uh self-starters they

224
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They did not cultivate a habit of ambition, of making difficult choices.

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They just went with the flow.

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You know what I mean?

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And then the millennials were born in this safe space bubble, this nerfed life, overprotected.

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And they just don't know how to operate outside of the safe space.

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So anytime a millennial gets too uppity, all a boomer had to do was make a racist joke or say a slur.

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and the millennial would start crying and run away, run back to their safe space.

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But where this crashing out is starting to really come through ahead

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is because Generation Z is completely unaffected by slurs and racist jokes.

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A boomer throws a racist joke at a Gen Z broccoli haircut,

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and they get one back so offensive that the boomer is the one crashing out.

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Boomers love to say the N-word.

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They love to make fun of women and talk about sexual harassment.

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But the second you question whether or not Adolf Hitler and the Nazis were good or bad, a boomer just, their brain short circuits.

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All of Gen Z broccoli Erica has to do is make an ironic statement glazing Adolf Hitler, and a boomer absolutely shuts down and crashes out.

239
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They cannot handle it, especially if they're Jewish.

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so that they had no if they they never had

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to parent adversarially or grandparent adversarially before until the broccoli

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aircoats came along and they're just unequipped to do it and they're too old to learn new tricks

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chat gpk can't help them because chat gpk's not afraid to be racist either well chat gpk maybe but

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croc's not and it's it the first for the first time a generation is able to stand up even though

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the millennials would stand up to the boomers it was very easy to throw them aside the gen z they

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they don't have a strategy for dealing with broccoli haircuts and this is why we've been

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saying for so long the broccoli haircuts are going to be a problem they're not going to be a problem

248
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for a millennial unless you know unless they're making fun it they cry when a gen z makes fun of

249
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you for watching harry potter every day but it's it's it's it's just an unprecedented time and

250
00:21:34,781 --> 00:21:49,361
And what's happening now, we talked about this journey to self-sovereignty running exclusively through a SpaceX node from start nine, is we have the rise of big Bitcoin.

251
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And this is, not all boomers are crashing out about this, but the boomers who thought that they were special because they started listening to podcasts a couple of years ago, and they thought node running made them special, are crashing out alongside Gen X, alongside millennials.

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I don't know about Gen Z, what they're crashing out about, but big Bitcoin is rearing its ugly head.

253
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We've got this new consortium of Bitcoin security for Bitcoin development.

254
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what this is new this is this might as well be breaking news like what what are your thoughts

255
00:22:25,001 --> 00:22:31,841
on this rise of big bitcoin because it seems like a steamroller is coming through and it's too early

256
00:22:31,841 --> 00:22:38,101
to really determine that but it seems like a steamroller is coming through and it is absolutely

257
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leaving a lot of collateral damage in the form of of you know plebs in its wake

258
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well i think this is it's a lesson to never underestimate your enemy right like there were a

259
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lot of people that were cheering and dancing and they said that uh you know podconf was dead and

260
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you know it was all over they they watched david bailey's naka stock go down

261
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and they were dancing on naka's grave big big bitcoin is incredibly resilient and i think that's

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something that is important to understand. And I think it's also important to understand that

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plebs politically have almost zero power. And when you're taking on a consortium like this,

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the plebs aren't going to accomplish a whole lot defensively against them. And so,

265
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if anything you know the the plabs uh you know fighting back against it is going to strengthen it

266
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and you know make it more relevant and so this is really like one of those situations important

267
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to crack open the art award by sun tzu and it is uh i don't know i mean what is strange in this

268
00:23:53,821 --> 00:24:01,081
situation which you know i've been genuinely surprised by is you know big bitcoin historically

269
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has seemed like it's more of a threat to the kind of freedom oriented aspect of bitcoin or

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the bitcoin social movement and now it seems like the roles have reversed and the plebs are acting

271
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more as a threat than big bitcoin and bitcoin is yeah what at the end is i guess we'll get to the

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the truth and the nuance in the middle here in a moment, but the risk I see is big Bitcoin

273
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is, well, Donald Trump, President Trump is by most people's definition, at least tangentially

274
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connected to big Bitcoin, right? I mean, many would argue that it's separable from big Bitcoin.

275
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And what Donald Trump, this is, he's a good example because a couple of years ago,

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the country voted

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for Donald Trump for a second term

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over the Democratic Party,

279
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over Kamala Harris,

280
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We have no need to relitigate this, but the important point is that people didn't vote to reelect Donald Trump in 2024 so much that because he was the best candidate or a great candidate or he had good policy or people trusted him to enact his policies or because he had good ideas or he was a statesman and he had a vision.

281
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And people voted for Donald Trump because the Democratic Party was so retarded and so stupid and so out of touch and just so detached from reality that Donald Trump was like it was like a protest vote.

282
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It's like we think that Kamala Harris and the Democrats are so fucking woke and retarded that we're going to vote for Donald Trump just to watch them crash out.

283
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I mean, after Donald Trump won, a lot of people were like, especially Republicans, they were for the first time turning on NSNBC and some of these news stations just so they could watch Rachel Nadow and Democrats, the Lids just totally crash out on the air.

284
00:26:13,422 --> 00:26:22,682
this is what's happening in this space is that the plebs are so obnoxious and so retarded and just so

285
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detached from reality that people are glazing big bitcoin as just because it's it's the only other

286
00:26:31,262 --> 00:26:37,622
option we'll take people are saying we'll take anything else except the plebs we do not you know

287
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i think i saw big bitcoin tweeted comply or be ruled by plebs and people are like i'd rather comply

288
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and be real butt collapsed.

289
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I don't want a future where I'm controlled butt collapsed.

290
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And Big Bitcoin sees this opportunity.

291
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And I think that they've come in and announced their,

292
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they really announced, they put their dick on the table.

293
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They flopped their huge Big Bitcoin dick on the table

294
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with this security consortium that Michael Saylor announced,

295
00:27:05,562 --> 00:27:07,082
like BlackRock, Fidelity.

296
00:27:08,642 --> 00:27:09,502
Where's the list?

297
00:27:09,582 --> 00:27:10,722
Let me find the list.

298
00:27:10,722 --> 00:27:16,662
It is the face of big Bitcoin are these companies.

299
00:27:17,182 --> 00:27:20,962
And people immediately came out and said,

300
00:27:21,022 --> 00:27:28,822
big Bitcoin is going to dig over the protocol so they can fork it for quantum security

301
00:27:28,822 --> 00:27:30,902
and they can steal Satoshi's coins.

302
00:27:31,382 --> 00:27:38,122
And everybody's mostly flap slop, which is only helping big Bitcoin entrench its power

303
00:27:38,122 --> 00:27:41,222
because everybody's response

304
00:27:41,222 --> 00:27:42,482
for like why they should,

305
00:27:42,842 --> 00:27:44,002
why you should be against Bitcoin

306
00:27:44,002 --> 00:27:47,362
is just utter gobbledygook.

307
00:27:47,762 --> 00:27:49,622
The Block is a part of an Anchorage Digital,

308
00:27:50,222 --> 00:27:52,942
Coinbase, Blockstream, Galaxy,

309
00:27:53,202 --> 00:27:54,862
Ark Invest, Cappywood.

310
00:27:56,022 --> 00:27:59,042
But for better or for worse,

311
00:27:59,502 --> 00:28:02,162
my take is that BlackRock

312
00:28:02,162 --> 00:28:04,102
and all these big Bitcoin brands

313
00:28:04,102 --> 00:28:05,522
saw what was going on,

314
00:28:05,642 --> 00:28:06,662
saw the pleb slop,

315
00:28:06,662 --> 00:28:12,162
saw BIP-110, they looked at the code, they gasped at how sloppy it was,

316
00:28:12,462 --> 00:28:18,562
and they said, we don't know if we're going to have to fork Bitcoin,

317
00:28:18,702 --> 00:28:23,522
steal Satoshi's coins or whatever, because quantum computers are going to mess everything up.

318
00:28:24,242 --> 00:28:31,162
But we need the optionality to have the influence and the funding

319
00:28:31,162 --> 00:28:36,422
and the developers in place so that if that decision has to be made,

320
00:28:36,662 --> 00:28:39,582
we're making it, not plebs.

321
00:28:39,762 --> 00:28:42,002
They don't want the plebs to decide

322
00:28:42,002 --> 00:28:46,842
how to protect Bitcoin from quantum computers.

323
00:28:47,562 --> 00:28:50,862
Plebs don't understand the difference

324
00:28:50,862 --> 00:28:54,342
between a default setting and consensus

325
00:28:54,342 --> 00:28:55,982
at an abstract protocol level.

326
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They definitely don't understand quantum computers.

327
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We cannot let plebs protect our investment,

328
00:29:01,342 --> 00:29:03,662
which is over in the hundreds of billions

329
00:29:03,662 --> 00:29:06,342
from quantum computers.

330
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So they wanted the optionality.

331
00:29:08,362 --> 00:29:12,322
Now that optionality becomes the optionality to change anything.

332
00:29:12,562 --> 00:29:25,382
But they definitely wanted, if nothing else, the option to prevent the plebs from forking Bitcoin in the face of a threat from spam or quantum computers or whatever it was.

333
00:29:26,302 --> 00:29:29,442
And so it's too late to really stop it now.

334
00:29:29,602 --> 00:29:30,982
They've already made their move.

335
00:29:31,542 --> 00:29:34,982
So the reaction to it, plebs are going to overreact.

336
00:29:34,982 --> 00:29:40,042
and it seems to be helping big bitcoin but how don't layer two labs is crashing out because they

337
00:29:40,042 --> 00:29:46,642
know this is bad but they can't figure out what to do so they're lashing out a lot of people are

338
00:29:46,642 --> 00:29:53,962
just lashing out i don't know yeah it seems like most of the responses are only making big bitcoin

339
00:29:53,962 --> 00:30:00,982
once again seem more reasonable it's exactly what you said you know comparing it to donald trump is

340
00:30:00,982 --> 00:30:08,982
you know the the the crash outs essentially made the opponent seem more reasonable this this seems

341
00:30:08,982 --> 00:30:17,822
to be the case of you know how most things are decided in the modern days whoever crashes out

342
00:30:17,822 --> 00:30:23,262
the least becomes the victor but both parties are crashing out not really bringing in a whole lot of

343
00:30:23,262 --> 00:30:28,062
value to the table and it may actually be bringing something that is destructive and

344
00:30:28,062 --> 00:30:31,562
are there level heads?

345
00:30:32,002 --> 00:30:32,542
I don't know.

346
00:30:33,142 --> 00:30:34,702
Plabs definitely don't have level heads.

347
00:30:35,562 --> 00:30:35,622
But,

348
00:30:35,862 --> 00:30:38,382
yeah, it is concerning.

349
00:30:38,542 --> 00:30:40,022
I mean, it seems like there's

350
00:30:40,022 --> 00:30:43,102
a lot of economic power

351
00:30:43,102 --> 00:30:45,302
that Bitcoin has.

352
00:30:46,222 --> 00:30:48,842
And there's no economic power

353
00:30:48,842 --> 00:30:50,022
that the Plabs have.

354
00:30:50,502 --> 00:30:52,062
But the Plabs, for a while,

355
00:30:53,022 --> 00:30:54,342
had social power

356
00:30:54,342 --> 00:30:55,522
and social capital

357
00:30:55,522 --> 00:30:58,962
that they had been able to leverage in the past

358
00:30:58,962 --> 00:31:01,962
in order to influence things happening in Bitcoin.

359
00:31:02,962 --> 00:31:09,982
But now it seems like they are burning all of their social capital that they had.

360
00:31:11,642 --> 00:31:13,222
The sailor used to glaze the plebs.

361
00:31:13,942 --> 00:31:15,462
Now he's mocking them.

362
00:31:16,582 --> 00:31:29,142
Yeah I mean that is one of the major pivots that we chronicled over the past I don know less than a year is Saylor

363
00:31:30,802 --> 00:31:38,082
He used to cater to the feelings and the emotions of the plaids and the Bitcoin industry.

364
00:31:39,122 --> 00:31:40,762
And that's just not the case anymore.

365
00:31:41,002 --> 00:31:45,962
I mean, Michael Saylor, his patience has run dry with club slop.

366
00:31:45,962 --> 00:31:54,902
it's a monster that he created i mean sailor is the the architect of of modern plebslop

367
00:31:54,902 --> 00:32:00,942
and he's seen what his create so it's like frankenstein's monster it's it's sailor's

368
00:32:00,942 --> 00:32:06,562
plebslop and he doesn't like what he sees and he's trying to course correct he's trying to

369
00:32:06,562 --> 00:32:13,102
protect his investment from being absolutely destroyed and gutted by the plebslop that he

370
00:32:13,102 --> 00:32:21,122
create and there's going to be a lot more pivots and you talked about this one of the one of the i

371
00:32:21,122 --> 00:32:28,262
don't know highlights but notable events last week was neat creations pivoted from being a nazi a bit

372
00:32:28,262 --> 00:32:34,922
110 proponent to becoming for lack of a he's just big bitcoin he's big he's now ride or die with

373
00:32:34,922 --> 00:32:47,002
Bitcoin but based on his his social media posts past few days he does seem to be losing momentum

374
00:32:47,002 --> 00:32:55,242
and enthusiasm he seems to be reacting to a marginal decrease in the glaze he was getting

375
00:32:55,242 --> 00:33:02,382
when he first pivoted being frustrated and this is not this is not surprising I think a lot of

376
00:33:02,382 --> 00:33:04,402
People are going to, I mean, think about it.

377
00:33:04,462 --> 00:33:15,722
Like when you pivot to a healthy lifestyle or you pivot from fiat to Bitcoin or you pivot, whatever, and you change your lifestyle, there's this, you know, endorphin rush, a high that you get.

378
00:33:15,822 --> 00:33:17,442
You feel like you're making the right choices.

379
00:33:17,442 --> 00:33:18,442
You're on the right path.

380
00:33:18,502 --> 00:33:19,622
You're gaining new friends.

381
00:33:20,062 --> 00:33:21,602
People are glazing the shit out of you.

382
00:33:21,682 --> 00:33:23,022
You're a new guy on the team.

383
00:33:23,122 --> 00:33:24,342
They want you to stick around.

384
00:33:24,342 --> 00:33:26,522
They want you to stay involved.

385
00:33:26,882 --> 00:33:28,682
And then that slowly starts to dwindle.

386
00:33:28,682 --> 00:33:38,462
And some people suggest that maybe MeCreation spent or over leveraged his social capital that he gained from being one of the first plebs to pivot.

387
00:33:39,382 --> 00:33:42,662
And, you know, maybe he's making enemies a little bit too fast.

388
00:33:42,662 --> 00:33:53,542
Maybe he is, you know, maybe he's just he's running into problems that he's just not equipped to face because he hasn't taken the time to put in the work to face them.

389
00:33:54,562 --> 00:33:55,122
Totally.

390
00:33:55,122 --> 00:34:02,542
It reminds me of recovering alcoholics in a lot of ways where they get glazed up first.

391
00:34:03,762 --> 00:34:08,962
A recovering alcoholic, they're so proud of themselves when they get sober.

392
00:34:10,422 --> 00:34:13,002
They're patting themselves on the back everywhere they go.

393
00:34:13,302 --> 00:34:14,762
People are so proud of them too.

394
00:34:16,262 --> 00:34:18,842
And then comes a point where it just gets old.

395
00:34:19,402 --> 00:34:20,682
It's like, okay, you changed your life.

396
00:34:20,822 --> 00:34:22,922
Now you're acting like a normal person.

397
00:34:22,922 --> 00:34:30,262
like normal people can like handle their shit right their lives don't become incredibly

398
00:34:30,262 --> 00:34:37,882
unproductive and dysfunctional uh because of because of drinking it's like okay now now you

399
00:34:37,882 --> 00:34:43,262
become on the level of a normal person uh it's really uh it's not as impressive of a feat

400
00:34:43,262 --> 00:34:47,962
as they make it out to be and it's like this is the same thing with like bip 110 it's like it's

401
00:34:47,962 --> 00:34:52,482
not that impressive to not support BIP 110.

402
00:34:54,002 --> 00:34:56,702
It's like the initial change is like, yeah, you know,

403
00:34:56,722 --> 00:34:58,182
congratulations, neat creations.

404
00:34:59,082 --> 00:35:00,362
Like you're back to zero.

405
00:35:03,022 --> 00:35:05,382
You're not in the like negative 15 anymore.

406
00:35:07,382 --> 00:35:13,702
And this, this is, I think where the problem kind of comes in

407
00:35:13,702 --> 00:35:17,622
regarding the Bitcoin 10 thing

408
00:35:17,622 --> 00:35:19,462
is a lot of plebs,

409
00:35:19,762 --> 00:35:20,762
you know, not just plebs,

410
00:35:20,842 --> 00:35:21,622
but mostly plebs.

411
00:35:22,742 --> 00:35:26,782
They put all their eggs in one basket

412
00:35:26,782 --> 00:35:29,102
at the protocol level

413
00:35:29,102 --> 00:35:32,022
and at the emotional level,

414
00:35:32,022 --> 00:35:34,942
at the personal level.

415
00:35:35,442 --> 00:35:37,842
They made being a node runner

416
00:35:37,842 --> 00:35:40,382
and saving Bitcoin

417
00:35:40,382 --> 00:35:46,042
going from this existential threat of C-SPAM and spam and whatever it is,

418
00:35:46,102 --> 00:35:52,122
like this mass formation psychosis that they developed as a community about spam

419
00:35:52,122 --> 00:35:57,482
and the monetary use case, the arbitrary data use case.

420
00:35:57,482 --> 00:36:00,362
They throw out these jarred in terms,

421
00:36:02,362 --> 00:36:08,362
stuff that people in normal life would absolutely have no idea what they're talking about.

422
00:36:08,362 --> 00:36:14,562
and they've emotionally, personally, and professionally, whatever,

423
00:36:14,862 --> 00:36:16,022
put all their eggs in one basket,

424
00:36:16,222 --> 00:36:20,682
and the success of BIP-110 is now like their success.

425
00:36:20,842 --> 00:36:22,982
If BIP-110 fails, Bitcoin fails.

426
00:36:22,982 --> 00:36:26,782
If BIP-110 fails, their lives, their future,

427
00:36:27,142 --> 00:36:31,882
the Bitcoin or the money they save for the future dies with it.

428
00:36:31,882 --> 00:36:39,102
They don't see a future outside of a BIP 110 activating successfully.

429
00:36:39,102 --> 00:36:52,262
So if they have no concept, if they have no imagination of their own success, their own stability,

430
00:36:52,462 --> 00:36:58,602
outside of this narrow band of very unlikely outcome,

431
00:36:58,602 --> 00:37:06,962
and i guess the it's from that perspective the crash outs i wouldn't call them irrational but

432
00:37:06,962 --> 00:37:16,042
they make a lot more sense yeah well this is something i talked about in uh my article on

433
00:37:16,042 --> 00:37:21,502
pub slop that i did you know when i was defining what pub slop was uh you know a while ago is

434
00:37:21,502 --> 00:37:27,842
there's generalizations that that these people say oftentimes like you know they they say good

435
00:37:27,842 --> 00:37:29,502
for Bitcoin or bad for Bitcoin.

436
00:37:30,042 --> 00:37:32,462
But there's not a clear definition of what that means.

437
00:37:33,282 --> 00:37:49,762
They hear these things you know from influencers and it can be interpreted a million different ways One person might walk away and think that bad for Bitcoin means you know the blockchain is getting larger at a certain rate

438
00:37:50,862 --> 00:37:54,882
Another person might walk away thinking bad for Bitcoin means the price is going down.

439
00:37:55,362 --> 00:38:01,602
Another person may walk away thinking that, you know, sailors buying too much Bitcoin.

440
00:38:01,962 --> 00:38:05,562
It's a very, like, vague term.

441
00:38:05,562 --> 00:38:23,522
And so when you are defining things that are important for you or like goals that you have in life or like a mission that you're part of, like trying to help and, you know, attain a goal, like there needs to be a clear definition of what it is.

442
00:38:23,522 --> 00:38:47,162
And like this idea of like good or bad for Bitcoin is, it's a framing that I don't think is helpful for an individual, you know, to be determining whether or not they're, they're happy or not based on, you know, the surroundings around them, because it's not really definable in a sense of like, okay, it's like, is it good or bad for you?

443
00:38:47,162 --> 00:38:53,902
um you know and when things that happen in the world around you that are bad for you the the

444
00:38:53,902 --> 00:39:00,622
answer isn't necessarily to uh to crash out is to adjust your strategy and uh attempt to

445
00:39:00,622 --> 00:39:06,302
take some corrective action in order to get there and i think this is like where

446
00:39:06,302 --> 00:39:12,102
where they're getting stuck for sure it's like they they have

447
00:39:12,102 --> 00:39:15,562
they haven't planned

448
00:39:15,562 --> 00:39:17,962
or accepted the

449
00:39:17,962 --> 00:39:19,202
potential for failure

450
00:39:19,202 --> 00:39:22,362
or whatever their goals were.

451
00:39:23,462 --> 00:39:24,142
And I don't think

452
00:39:24,142 --> 00:39:26,042
they've clearly defined their goals

453
00:39:26,042 --> 00:39:27,942
in a way that they can win.

454
00:39:28,262 --> 00:39:29,042
I think it's part of it.

455
00:39:29,042 --> 00:39:30,762
And they don't have

456
00:39:30,762 --> 00:39:34,522
or they refuse to acknowledge

457
00:39:34,522 --> 00:39:36,102
the evidence.

458
00:39:36,342 --> 00:39:36,842
They don't.

459
00:39:37,042 --> 00:39:37,962
Clebs are not pragmatic.

460
00:39:38,402 --> 00:39:39,842
There's no pragmatic Clebs.

461
00:39:40,442 --> 00:39:40,942
And I think

462
00:39:40,942 --> 00:39:48,482
I think that, I don't know if this will be the last episode that we talk about BIP-110 and PLEPSLOP.

463
00:39:48,642 --> 00:39:50,842
Of course, it won't be the last time we talk about PLEPSLOP.

464
00:39:51,282 --> 00:39:58,642
But I think, if there's any doubt, I know that people don't follow this stuff as closely as we do.

465
00:39:59,422 --> 00:40:01,082
So I just want to, like, get into this.

466
00:40:01,242 --> 00:40:04,622
So the activation of BIP-110 is scheduled.

467
00:40:04,962 --> 00:40:08,182
Like, the mandatory signaling period is set to begin.

468
00:40:08,182 --> 00:40:10,022
And I don't have the block height right in front of me.

469
00:40:10,022 --> 00:40:13,302
But it's expected to happen sometime around August 8.

470
00:40:14,042 --> 00:40:19,562
And unless the difficulty in the hash rate dramatically changes, that's when it'll probably occur.

471
00:40:19,562 --> 00:40:27,482
And some people think, based on the way they talk, that it's a coin toss.

472
00:40:27,622 --> 00:40:29,182
Will PIP 110 succeed or not?

473
00:40:29,242 --> 00:40:30,582
Some people are very sure that it will.

474
00:40:31,442 --> 00:40:36,362
But it's important to define success or activation and what that means.

475
00:40:36,362 --> 00:40:43,602
And it's also important to look at the tools we have to gauge the probability.

476
00:40:44,682 --> 00:40:48,622
So I'm going to just read what we see here.

477
00:40:49,182 --> 00:40:54,822
I'm looking at the Predicts, Predicts.com, P-R-E-D-Y-X.

478
00:40:55,442 --> 00:41:04,202
So the first prediction market by Predicts on BIP 110 activating has been open for most of this year.

479
00:41:04,202 --> 00:41:15,342
I think the one originally was launched last year when it was BIP444 and they had like a target activation or whatever of like March of 2026.

480
00:41:15,542 --> 00:41:19,922
They scrapped that, moved it to August, which is coming up, September for the final date.

481
00:41:20,782 --> 00:41:33,202
So this market will BIP110 activate and be enforced by Bitcoin on the most proof of work chain between September 1st and September 7th.

482
00:41:34,202 --> 00:41:35,442
2026.

483
00:41:36,922 --> 00:41:37,182
So,

484
00:41:37,922 --> 00:41:38,922
what does this mean?

485
00:41:39,922 --> 00:41:42,382
The liquidity right here is up to

486
00:41:42,382 --> 00:41:44,022
2 million saps and the

487
00:41:44,022 --> 00:41:46,502
trading volume is now up to

488
00:41:46,502 --> 00:41:48,202
3.5,

489
00:41:48,262 --> 00:41:50,202
a little bit more than 3.5 Bitcoin

490
00:41:50,202 --> 00:41:52,162
and over 16,000

491
00:41:52,162 --> 00:41:52,642
trades.

492
00:41:53,802 --> 00:41:56,042
And the likelihood of Bit

493
00:41:56,042 --> 00:41:58,102
110 success on this market,

494
00:41:58,202 --> 00:41:59,982
the most liquid, the most traded market

495
00:41:59,982 --> 00:42:02,302
that exists, there's no futures market

496
00:42:02,302 --> 00:42:04,262
for Bitcoins, there's only this prediction market.

497
00:42:04,402 --> 00:42:07,422
This is the polling market of Bitcoin 10

498
00:42:07,422 --> 00:42:09,782
has been sitting around 10%.

499
00:42:09,782 --> 00:42:12,702
It's kind of gone between 4% or 5%

500
00:42:12,702 --> 00:42:16,302
and as high as maybe 18% at different times.

501
00:42:16,302 --> 00:42:20,442
But it's averaged out about 10%, about 10% success.

502
00:42:20,842 --> 00:42:22,722
And that's one market.

503
00:42:22,922 --> 00:42:23,802
That's the biggest one.

504
00:42:23,903 --> 00:42:25,982
That's the one that tells you the odds.

505
00:42:26,162 --> 00:42:29,942
You can kind of glean some how accurate this one is

506
00:42:29,942 --> 00:42:31,782
by looking at some of the other ones.

507
00:42:32,302 --> 00:42:39,922
So what will the peak hash signaling for BIP-110 be by September 2026?

508
00:42:39,922 --> 00:42:55,143
Now this one is only 68,000 sats trading volume, but at 77%, the best chance for the peak hash rate to signal BIP-110 is below 5%.

509
00:42:55,143 --> 00:43:05,162
and then you have another one 270 000 saps trading volume will a top five bitcoin mining pool

510
00:43:05,162 --> 00:43:14,602
signal bip 110 before august 1st that one is at 3.5 percent chance we have 340 000 saps trading

511
00:43:14,602 --> 00:43:21,802
volume on the market will bip 110 lock in before activation but if you look back at taproot and

512
00:43:21,802 --> 00:43:26,682
SegWit, both of these were wide consensus.

513
00:43:26,922 --> 00:43:27,802
They were very popular.

514
00:43:28,042 --> 00:43:29,143
The community bought in.

515
00:43:30,162 --> 00:43:31,502
Mandatory signaling began.

516
00:43:31,502 --> 00:43:37,422
The threshold was reached for signaling before the activation timeout.

517
00:43:37,682 --> 00:43:41,062
But will this happen again for BIP-110?

518
00:43:41,862 --> 00:43:43,502
Less than a 10% chance.

519
00:43:44,202 --> 00:43:44,762
Another market.

520
00:43:44,762 --> 00:43:52,082
A top 10 U.S. Bitcoin ETF issuer files an SEC disclosure addressing a BIP-110 chain split.

521
00:43:53,082 --> 00:44:03,643
Less than 9 Will Saylor support BIP No Will Odell admit he was wrong about BIP

522
00:44:05,383 --> 00:44:06,823
Less than 5%.

523
00:44:06,823 --> 00:44:08,683
And there's a few others.

524
00:44:08,683 --> 00:44:17,583
There's Will, you know, Will Naps overtake Core as the most popular client?

525
00:44:17,883 --> 00:44:21,243
Will the BIP-110 coin be listed on an exchange?

526
00:44:21,243 --> 00:44:27,143
change again less than 10 so the prediction markets where people are actually putting money

527
00:44:27,143 --> 00:44:31,943
on the line based on their information based on how closely they follow this based on how well

528
00:44:31,943 --> 00:44:36,743
they understand how the protocol works they're all telling you no this head this is dead in the water

529
00:44:36,743 --> 00:44:44,943
so why do people like luke and some of the top nazi lieutenants speak so confidently about why

530
00:44:44,943 --> 00:44:50,223
this will activate because activation can occur they they would these guys can activate

531
00:44:50,223 --> 00:44:57,723
bit 110 on their pleb nodes without reaching 55 and enforce it on their nodes and they've been

532
00:44:57,723 --> 00:45:04,103
threatening you know to reject the miners locks that don't comply but this is where the chain

533
00:45:04,103 --> 00:45:09,863
split occurs so a chain split doesn't mean that bit 110 didn't activate successfully on a bit 110

534
00:45:09,863 --> 00:45:10,723
client node.

535
00:45:12,083 --> 00:45:15,663
But it does mean that anybody who's following that potentially,

536
00:45:16,783 --> 00:45:18,283
especially without replay protection,

537
00:45:18,803 --> 00:45:19,523
could lose it all.

538
00:45:20,243 --> 00:45:20,683
It could be,

539
00:45:20,963 --> 00:45:24,023
whether your node forks off and you're a miner and you're,

540
00:45:24,023 --> 00:45:26,683
you're wasting hash mining blocks that get rejected,

541
00:45:27,403 --> 00:45:28,663
where you sell your Bitcoin.

542
00:45:29,303 --> 00:45:29,583
And,

543
00:45:29,703 --> 00:45:30,283
you know,

544
00:45:30,663 --> 00:45:30,883
there's,

545
00:45:30,963 --> 00:45:31,543
there's just a,

546
00:45:31,543 --> 00:45:33,043
there's this little litany of,

547
00:45:33,063 --> 00:45:34,643
of potential risks here.

548
00:45:35,303 --> 00:45:36,763
But it's the,

549
00:45:37,063 --> 00:45:38,623
this is another one.

550
00:45:38,623 --> 00:45:42,863
What percentage of the Foundry USA, we talked about that vote.

551
00:45:43,543 --> 00:45:48,503
Right now, it's a 66% chance that it is below 1% signaling.

552
00:45:48,503 --> 00:46:00,843
And we have heard rumors that that is most likely the case, that so far they've not had almost anybody in Foundry Pool vote to signal BIP 110.

553
00:46:01,383 --> 00:46:02,623
So this is dead in the water.

554
00:46:02,963 --> 00:46:04,563
Like, this is why people are crashing out.

555
00:46:04,563 --> 00:46:08,183
and people reject these prediction markets,

556
00:46:08,283 --> 00:46:10,783
but these are the best tools that we've got.

557
00:46:12,583 --> 00:46:13,203
I don't know.

558
00:46:13,283 --> 00:46:16,983
I mean, do you have any argument that would,

559
00:46:17,783 --> 00:46:19,743
or a devil's advocate that you could play here

560
00:46:19,743 --> 00:46:22,683
to speculate on the odds being different

561
00:46:22,683 --> 00:46:24,383
from what the markets are telling us?

562
00:46:26,663 --> 00:46:27,963
I think they're much higher.

563
00:46:29,203 --> 00:46:30,703
I think the odds are much higher?

564
00:46:31,703 --> 00:46:34,083
You think that you, so that's what I was going to say.

565
00:46:34,083 --> 00:46:39,383
I would say the biggest market, the one that we should probably just focus on now, is about 10%.

566
00:46:39,383 --> 00:46:46,343
I think it's clearly being manipulated if you look at the comment section of that market.

567
00:46:46,583 --> 00:46:54,183
There's like a couple of people who are buying and hosting in the comments, and a lot of bravado, a lot of flex slop.

568
00:46:55,443 --> 00:46:57,503
But yeah, I think 10% is too.

569
00:46:57,503 --> 00:47:01,463
I think if you buy at the 10% odds right now,

570
00:47:01,543 --> 00:47:04,603
you're still buying dollars for 90 cents.

571
00:47:04,843 --> 00:47:07,143
It's still maybe worth it to buy on there.

572
00:47:08,723 --> 00:47:09,203
Yeah.

573
00:47:09,903 --> 00:47:11,303
I just, I don't know.

574
00:47:11,603 --> 00:47:16,343
I think I've probably talked about it on the show before.

575
00:47:16,663 --> 00:47:23,263
I just think people's understanding of what's happening here is completely wrong.

576
00:47:23,523 --> 00:47:26,763
And I think individuals like Mr. Hoddle,

577
00:47:27,503 --> 00:47:33,503
per se, is, you know, wasting a lot of time treating this as if it's some sort of technical

578
00:47:33,503 --> 00:47:41,943
argument and engaging it when it's really just kind of a social phenomenon that is happening

579
00:47:41,943 --> 00:47:49,723
in which it's more at stake.

580
00:47:49,723 --> 00:47:57,463
the strongest proponents of the of this you know phenomenon have have zero understanding

581
00:47:57,463 --> 00:48:06,183
of what's happening but i don't know i mean i i don't really think that there are tremendous risks

582
00:48:06,183 --> 00:48:15,303
in regards to they're not being replay protection because the individuals that you know would be

583
00:48:15,303 --> 00:48:22,583
potentially sending their coins and and and losing them in this scenario uh

584
00:48:22,583 --> 00:48:27,643
or just facing a potential issue like they don't actually use bitcoin

585
00:48:27,643 --> 00:48:33,483
so i feel like it's like minimal chances of

586
00:48:33,483 --> 00:48:43,423
potential blowback here but it's uh i don't know yeah hey yeah there's yeah we can honestly get

587
00:48:43,423 --> 00:48:51,363
into this a little bit more itch is part of you know like bitcoin cash in hindsight

588
00:48:51,363 --> 00:48:59,683
it was you know it failed spectacularly depending on your perspective but there's still some value

589
00:48:59,683 --> 00:49:05,423
you could still sell a bcash coin for a few hundred bucks i mean and for a while there it

590
00:49:05,423 --> 00:49:11,343
was a few thousand dollars and it was the the delta between bitcoin's price and bcash's price

591
00:49:11,343 --> 00:49:19,763
was far less wide and it's still around almost 10 years later but part of that is because the

592
00:49:19,763 --> 00:49:28,963
people who the bitcoin cash proponents were very serious like they many of them before the four

593
00:49:28,963 --> 00:49:33,423
were like we're selling our coins we don't want small blocks like we want the big blocks we want

594
00:49:33,423 --> 00:49:39,843
bcash bitcoin cash and they did they sold and they put their money where the mouth was these

595
00:49:39,843 --> 00:49:46,923
were bitcoin miners these were economic actors businesses really like meaningful investors like

596
00:49:46,923 --> 00:49:56,803
who had meaningful amounts of of etxos uh the bit 110 side far less i mean none of them really will

597
00:49:56,803 --> 00:50:04,103
commit to following and mining on their their pled chain none of them really will commit to

598
00:50:04,103 --> 00:50:05,443
selling their

599
00:50:05,443 --> 00:50:07,663
their Bitcoin for their

600
00:50:07,663 --> 00:50:09,843
B-dash, as some people are calling it,

601
00:50:09,883 --> 00:50:10,743
B-dash Jr.

602
00:50:11,643 --> 00:50:13,963
Very few of them, there's only a handful

603
00:50:13,963 --> 00:50:15,283
of them that are holding up

604
00:50:15,523 --> 00:50:18,203
and propping up the prediction market, the rest of them call it gambling.

605
00:50:18,983 --> 00:50:22,743
To call that market gambling is a misnomer,

606
00:50:23,283 --> 00:50:27,083
and it reveals that they don't believe what they're saying.

607
00:50:27,163 --> 00:50:31,523
If you think that the successful activation of the .10

608
00:50:31,523 --> 00:50:35,363
and putting money on that on a prediction market is gambling,

609
00:50:36,003 --> 00:50:39,103
they're saying you don't believe, essentially, that you're going to win.

610
00:50:39,663 --> 00:50:42,223
You're saying it's at best a coin toss,

611
00:50:42,223 --> 00:50:49,083
which is not how prediction market outcome that's not how these things work like it 1 10 will either

612
00:50:49,083 --> 00:50:58,783
has consensus has signaling has support and will activate successfully and be enforced on the main

613
00:50:58,783 --> 00:51:07,483
chain by by september or it won't it's not a gamble it's not a who knows maybe god will come in and

614
00:51:07,483 --> 00:51:10,003
and make Bitcoin forked in this direction.

615
00:51:10,383 --> 00:51:15,443
It's either going to happen or it's not based on certain metrics

616
00:51:15,443 --> 00:51:18,243
that we kind of listed a bunch of them,

617
00:51:18,383 --> 00:51:21,783
minor hash signaling, node count, economic nodes,

618
00:51:21,903 --> 00:51:24,723
the buy-in from a broad set of the industry,

619
00:51:25,323 --> 00:51:27,543
the activation threshold, like all this stuff.

620
00:51:28,343 --> 00:51:30,963
Take these metrics, you plug it in, you get the probabilities.

621
00:51:30,963 --> 00:51:33,903
They call it gambling, which means they don't understand what they're even doing.

622
00:51:33,903 --> 00:51:37,983
And this is, again, like this is where this is the kayfabe, right?

623
00:51:38,043 --> 00:51:46,923
Like this bravado, this arrogance, this certainty that they project that doesn't have any backing in the hash rate or these prediction markets.

624
00:51:47,483 --> 00:51:50,303
Prediction markets, like I've said before, reveal kayfabe.

625
00:51:51,223 --> 00:51:56,763
If everybody is so sure of something, so confident, but they won't even put 100,000 saps on it.

626
00:51:57,803 --> 00:51:59,243
That that's a disconnect.

627
00:51:59,243 --> 00:52:05,063
So, yeah, there's a million reasons why it will fail.

628
00:52:05,363 --> 00:52:10,863
There's a million reasons why they say they don't think it will fail or that they're very confident that it will work.

629
00:52:11,663 --> 00:52:16,243
But you just, the market doesn't, you know, you take all this stuff into consideration.

630
00:52:17,103 --> 00:52:19,563
It's very clear that these guys don't know what they're doing.

631
00:52:19,663 --> 00:52:21,003
They don't know what they're talking about.

632
00:52:21,003 --> 00:52:35,443
They don't really use Bitcoin, at least not at the scale or extent that Coinbase or entrepreneurs or cipher, whatever it is, miners, mining pools.

633
00:52:36,343 --> 00:52:42,383
It's like college kids or high school kids crashing out and protesting.

634
00:52:42,903 --> 00:52:44,883
They have no stake in society.

635
00:52:45,043 --> 00:52:46,263
They don't know how society is run.

636
00:52:46,323 --> 00:52:47,683
They don't know how the rules work.

637
00:52:47,963 --> 00:52:50,683
They're just emotionally lashing out.

638
00:52:51,003 --> 00:53:01,363
And they want to punish somebody who they've decided is a cause of their problems, their heartache, their sadness, their depression, their lack of glaze, whatever it is.

639
00:53:01,363 --> 00:53:08,043
And they want to cause a burden or stress or to rug the spammers, as they put it.

640
00:53:08,163 --> 00:53:09,683
It's really, it's all kayfabe.

641
00:53:10,203 --> 00:53:15,583
Well, what exactly is happening right now is people engaging in the discussion.

642
00:53:15,823 --> 00:53:18,163
It's like you go in an argument with pubs about this shit.

643
00:53:18,163 --> 00:53:21,883
it's kind of like ben shapiro when he went and argued with the retarded

644
00:53:21,883 --> 00:53:24,823
liberal college students on campuses

645
00:53:24,823 --> 00:53:30,943
they have no idea what they're talking about like their their heads are just

646
00:53:30,943 --> 00:53:37,483
being filled with programming inserted by somebody else by by the road college professors by

647
00:53:37,483 --> 00:53:47,283
you know individuals funded by uh wealthy uh you know well-funded ngos or you know whoever like

648
00:53:47,283 --> 00:53:53,483
there's puppet masters behind the scenes pulling the strings it's not very clear who they are

649
00:53:53,483 --> 00:53:59,463
and so you know everybody watching you know to recap again what we were talking about earlier

650
00:53:59,463 --> 00:54:04,983
is like you know people are like okay like big bitcoin seems interesting and reasonable like you

651
00:54:04,983 --> 00:54:10,023
remember like ben shapiro used to look interesting and reasonable now everybody hates him he's

652
00:54:10,023 --> 00:54:16,523
retarded because he like he never had anything of value to say or was interesting it's just like

653
00:54:16,523 --> 00:54:18,523
these woke college kids were just so dumb.

654
00:54:19,543 --> 00:54:21,483
He seemed risible.

655
00:54:21,923 --> 00:54:26,983
And like going and engaging and debating the plebs in this scenario,

656
00:54:27,283 --> 00:54:28,623
it's the exact same thing.

657
00:54:28,763 --> 00:54:32,603
It's not addressing who the puppet masters are behind the scenes.

658
00:54:32,603 --> 00:54:36,903
Like what is the outcome of what's happening here?

659
00:54:37,843 --> 00:54:42,043
It's a delegitimization of an institution.

660
00:54:42,043 --> 00:54:48,663
for reasons that are not even like probably accurate or reasonable.

661
00:54:48,663 --> 00:54:51,703
It's like tearing down Bitcoin Core because Gloria has sex.

662
00:54:51,843 --> 00:54:57,783
Like, is that a real reason to tear down, you know, to, you know,

663
00:54:58,743 --> 00:55:02,663
be bickering about spam and relay policy?

664
00:55:02,663 --> 00:55:21,630
policy like they you know the the virtue signaling this idea of of not um relaying tracks transactions but you storing them on your node once they confirmed in the blockchain by other people From a technical standpoint it just gobbledygook it very

665
00:55:21,630 --> 00:55:27,590
silly. But from like a social standpoint, there are some very clear things that are happening

666
00:55:27,590 --> 00:55:34,290
in all of this. One of which is that many of the most passionate advocates for Bitcoin

667
00:55:34,290 --> 00:55:41,250
become the most negative mouthpieces against it,

668
00:55:41,510 --> 00:55:44,130
ultimately, from an optics standpoint.

669
00:55:46,790 --> 00:55:49,450
They're out there, you know, where it is in the past.

670
00:55:49,530 --> 00:55:51,510
They were plebslopping about how you need to buy it

671
00:55:51,510 --> 00:55:53,550
because separating money from state, you know,

672
00:55:53,550 --> 00:55:55,490
and the Federal Reserve, you know,

673
00:55:55,590 --> 00:55:57,190
dollars are melting an ice cube.

674
00:55:58,390 --> 00:56:00,090
You know, they're plebslopping about all of that.

675
00:56:00,190 --> 00:56:03,210
Now they're telling everybody that'll listen,

676
00:56:03,210 --> 00:56:12,130
that it's taken over that centralized that that you're storing c sam on your little raspberry pi

677
00:56:12,130 --> 00:56:20,270
so that's one of the impacts that's happened from this i think it's important to look at

678
00:56:20,270 --> 00:56:27,630
and you look at like bcash you could say that bcash wasn't successful in the sense of like

679
00:56:27,630 --> 00:56:31,010
They forked and it become the predominant coin.

680
00:56:31,210 --> 00:56:34,790
But in many ways, it was the same thing that happened prior.

681
00:56:36,070 --> 00:56:45,330
Was these individuals that were promoting using Bitcoin as money were hanging out in a lot of subcultural groups.

682
00:56:47,270 --> 00:56:57,170
Hanging out in the fringes of society where, you know, Bitcoin could be used productively and people could get excited about it.

683
00:56:57,630 --> 00:57:05,310
And then all of a sudden, the individuals that are in the fringes become incredibly disenchanted with it.

684
00:57:05,410 --> 00:57:15,170
And they get blasted from both sides of, you know, the Roger Ver, Bcash type people, but then also the shitcoiners.

685
00:57:15,170 --> 00:57:16,350
And so their heads are spinning.

686
00:57:16,350 --> 00:57:23,170
you know they they take one look one pass at bitcoin write it off because

687
00:57:23,170 --> 00:57:31,690
they heard some sort of pleb slot block stream conspiracy completely negating it in their minds

688
00:57:31,690 --> 00:57:35,530
and they're they're not going to do any more research because they they they'd rather uh

689
00:57:35,530 --> 00:57:43,750
watch jeff burwick jerk himself off on stage than listen to 40 hours a week of bitcoin podcast and

690
00:57:43,750 --> 00:57:47,210
so I don't know. I mean, it's interesting.

691
00:57:48,050 --> 00:57:50,950
Oftentimes the stated goals of these things could be

692
00:57:50,950 --> 00:57:53,390
dramatically different than

693
00:57:53,390 --> 00:57:57,670
what the actual goals of them are.

694
00:57:59,630 --> 00:58:01,370
Yeah, I think one of the

695
00:58:01,370 --> 00:58:05,510
topics that I was hoping to get into this

696
00:58:05,510 --> 00:58:09,550
week, but I think is better to save for our next

697
00:58:09,550 --> 00:58:13,210
recording is, what is this space? What is this culture? What is this

698
00:58:13,750 --> 00:58:15,390
discourse.

699
00:58:16,470 --> 00:58:17,510
What is the mission?

700
00:58:17,650 --> 00:58:20,450
What does all this look like going forward?

701
00:58:21,450 --> 00:58:25,130
Obviously, things are not going back to the way they were.

702
00:58:25,230 --> 00:58:28,750
Big Sean Harris is not going to recover his social capital.

703
00:58:29,890 --> 00:58:31,150
A lot of people aren't.

704
00:58:31,350 --> 00:58:32,810
A lot of people are going to be wiped out.

705
00:58:32,810 --> 00:58:37,490
It's going to be a social capital jubilee, potentially.

706
00:58:40,130 --> 00:58:41,570
It's going to look different.

707
00:58:42,050 --> 00:58:43,050
Things are going to look different.

708
00:58:43,050 --> 00:58:53,550
The way that people react and maneuver and, you know, adversarially interact with big Bitcoin is going to change.

709
00:58:53,810 --> 00:58:54,710
It's going to have to change.

710
00:58:55,130 --> 00:58:56,850
The threats are going to be much bigger.

711
00:58:57,450 --> 00:59:04,170
And the solutions and the defense, like that's going to have, the ideas are going to have to be much more thermodynamically sound.

712
00:59:04,350 --> 00:59:10,190
They're going to have to be much more practical, much more realistic and much more, you know, just not.

713
00:59:10,190 --> 00:59:15,290
So, PLEPSLOF is running into its end of life.

714
00:59:15,770 --> 00:59:16,790
It's going to expire.

715
00:59:17,490 --> 00:59:19,070
It's already expired, honestly.

716
00:59:19,490 --> 00:59:22,710
But it's the new use, just like the first turning.

717
00:59:22,910 --> 00:59:24,230
What are the institutions?

718
00:59:25,070 --> 00:59:27,130
What are the memes?

719
00:59:27,410 --> 00:59:28,110
What are the podcasts?

720
00:59:28,530 --> 00:59:30,310
What are they going to look like for the first turning?

721
00:59:30,430 --> 00:59:33,290
Because a lot of us joined the first turning a while ago.

722
00:59:33,530 --> 00:59:36,510
A lot of us flipped the fourth turning behind us a while ago.

723
00:59:36,510 --> 00:59:39,230
the rest of you, the rest of us,

724
00:59:40,010 --> 00:59:43,810
the first turning begins in August,

725
00:59:44,510 --> 00:59:45,970
whether you want to or not.

726
00:59:47,030 --> 00:59:49,110
And Big Bitcoin has a head start.

727
00:59:49,930 --> 00:59:52,910
So in the AI surveillance state,

728
00:59:52,950 --> 00:59:54,730
we didn't even get into that today, but that's coming.

729
00:59:55,030 --> 00:59:57,930
So we're going to think about what comes next.

730
00:59:58,590 --> 01:00:01,510
But yeah, I've got to catch a plane.

731
01:00:01,510 --> 01:00:03,970
I'm headed to a glaze conference.

732
01:00:04,250 --> 01:00:05,830
So I got to go cover that.

733
01:00:06,510 --> 01:00:21,916
but yeah a lot to think about There still some alpha there still some money to be made on the prediction markets if you know the bit 110 will fail so get it while the getting good absolutely

734
01:00:21,916 --> 01:00:26,636
it's getting hairy out there folks and

735
01:00:26,636 --> 01:00:33,276
i don't know what the next couple weeks will look like it's going to be a slop storm so we'll

736
01:00:33,276 --> 01:00:38,656
I think next week we'll probably be talking about the slop storm and then be talking about the aftermath after that.

737
01:00:39,476 --> 01:00:41,076
But I don't know.

738
01:00:41,136 --> 01:00:44,076
It's just, it's entertaining to say the least.

739
01:00:44,156 --> 01:00:44,716
I'm entertained.

740
01:00:44,996 --> 01:00:47,296
I hope that you're entertained.

741
01:00:47,716 --> 01:01:01,596
But I also know that a good portion of people are kind of tuning out and there will be an awesome opportunity to enjoy white guy summer and to tune out here in the near future with.

742
01:01:01,596 --> 01:01:07,996
lake satoshi but yeah i mean there's things on the horizon like the the ai surveillance state

743
01:01:07,996 --> 01:01:13,336
i've been scrolling on instagram and it's been interesting because seeing a lot of

744
01:01:13,336 --> 01:01:21,496
memes about cutting flock cameras down so i don't really know if it's happening or not but you know

745
01:01:21,496 --> 01:01:29,496
it's just weird to to go on instagram and see tutorials on how to cut flock cameras down

746
01:01:29,496 --> 01:01:39,016
just it's different it's unique but uh yeah put out paid subscriber episode

747
01:01:39,016 --> 01:01:46,336
a little bit ago and i'm gonna i have a episode release or not release but recorded with

748
01:01:46,336 --> 01:01:54,216
max from governable misfits that i will be publishing here shortly after this drops but

749
01:01:54,216 --> 01:02:18,196
But there is, during times like this, when things are crazy, when it looks like big Bitcoin or big pharma or big, you know, whatever the big conglomerate is, that is pressing down against your spirit, threatening to make life difficult for you.

750
01:02:18,196 --> 01:02:22,196
when when tyranny is in the air

751
01:02:22,196 --> 01:02:31,316
i think it's important to understand that tyranny is unnatural it is one of those things that

752
01:02:33,456 --> 01:02:41,116
can only push so far because it takes a lot of energy to

753
01:02:41,116 --> 01:02:50,976
uphold and so they just while things on the horizon look bleak in some ways the future looks

754
01:02:50,976 --> 01:03:01,436
difficult potentially there are opportunities and it is not over and there's a lot of reasons

755
01:03:01,436 --> 01:03:08,976
to be hopeful but anyways that being said let's get into the found boost folks first boost from

756
01:03:08,976 --> 01:03:14,896
late stage huddle said have fun at least atoshi sorry i won't be there this year well you will be

757
01:03:14,896 --> 01:03:21,876
missed quite a bit i was really bummed when i saw this like i i almost crashed out myself when i saw

758
01:03:21,876 --> 01:03:28,116
this in the group chat late stage so we will miss you and uh looking forward to catching up maybe

759
01:03:28,116 --> 01:03:34,556
i'll have to uh give you a call on my way out there orange mark 5000 sat said buglers remember

760
01:03:34,556 --> 01:03:40,816
to hit the share on nostril button when you send a found a boost it's the best way to spread the

761
01:03:40,816 --> 01:03:47,876
signal and mock the plebs because let's be real if you boost a podcast and don't flex on the

762
01:03:47,876 --> 01:03:53,976
timeline did it even happen yeah it's a good point it's one of my favorite things is you know

763
01:03:53,976 --> 01:03:58,716
when i when i go and boost a podcast people can see it on the on the nostril timeline and they

764
01:03:58,716 --> 01:04:04,456
it's nice to share especially since the the beagle account has gained a little bit more

765
01:04:04,456 --> 01:04:08,616
followers after maxi madness so yeah i mean it's definitely one of those things

766
01:04:08,616 --> 01:04:14,636
that is incredibly helpful it is one of the coolest features that

767
01:04:14,636 --> 01:04:21,536
fountain has come out with if not the coolest feature is the ability the integration with

768
01:04:21,536 --> 01:04:27,536
i mean it's just it's really useful from a creator standpoint so yeah i mean definitely

769
01:04:27,536 --> 01:04:32,876
a huge thing like if you comment with the with the podcast link or you know anything like that

770
01:04:32,876 --> 01:04:38,236
if you ever you're an osster even if you don't boost it still posts out the episode it's pretty

771
01:04:38,236 --> 01:04:44,676
useful thanks for pointing that out orange mart used to read a lot 5,000 sad always a pleasure

772
01:04:44,676 --> 01:04:52,016
appreciate you sasha 4,444 sats is great show interesting times for sure

773
01:04:52,016 --> 01:04:57,076
stack general 21 header sass says kimmy k3

774
01:04:57,076 --> 01:05:04,056
raf huddle 420 sass said i will spend the rest of my days searching for the mother of all nodes

775
01:05:04,056 --> 01:05:20,163
hashtag 40 hpw yeah um mother oh i just wonder how much power it has side of storm breck 121 sass says join a cult have lots of sex run your truth nodes gatekeep the blockchain are you in the

776
01:05:20,163 --> 01:05:27,863
influencer class tallow glaze maxine bugle weekly news forever nostrigang 101 sass says i am sometimes

777
01:05:27,863 --> 01:05:36,443
naked while listening to bitcoin podcast btc on board so 100 cents thumbs up emoji salute thumbs

778
01:05:36,443 --> 01:05:45,283
up emoji i think one of the i've been reluctant to call

779
01:05:45,283 --> 01:05:52,583
what we're experiencing right now a war i mean i guess in many ways it's cultural war

780
01:05:52,583 --> 01:05:54,283
They want to call it the node wars.

781
01:05:54,403 --> 01:05:55,763
I would call it the slop wars.

782
01:05:56,303 --> 01:06:06,223
But one of the characteristics of a war is being so intensely into it that you have trouble seeing what the future will look like afterwards.

783
01:06:06,763 --> 01:06:10,523
And I think socially we're all a little bit uncertain.

784
01:06:10,663 --> 01:06:17,343
There's going to be some serious repercussions of fallout for it.

785
01:06:17,343 --> 01:06:22,783
Hopefully people are prepared to accept the consequences for their behavior.

786
01:06:23,403 --> 01:06:24,543
And I know we are.

787
01:06:24,723 --> 01:06:27,363
You know, we have no issues with reporting the news.

788
01:06:29,503 --> 01:06:31,063
And I think we've done it effectively,

789
01:06:31,063 --> 01:06:33,423
and I feel good by standing by everything that we've done.

790
01:06:36,043 --> 01:06:39,043
But I know, you know, it's been funny because there's been some people

791
01:06:39,043 --> 01:06:41,463
that claim to be keeping receipts.

792
01:06:41,463 --> 01:06:44,803
It's just nice that somebody has a backup of our bangers.

793
01:06:44,803 --> 01:06:52,563
hopefully more people keep her keep her seats on us but yeah thank you to our subscribers dave

794
01:06:52,563 --> 01:06:59,823
charlie roger jason c used to read it a lot lahav btc on board boomer fundamentals sean

795
01:06:59,823 --> 01:07:08,883
open mic and avi burra appreciate you guys and try and get some more premium content

796
01:07:08,883 --> 01:07:14,183
out to you guys soon thank you folks for listening to beagle weekly and we'll catch you next

797
01:07:14,803 --> 01:07:19,923
Mm mmm mmm mmm mmm

798
01:07:22,003 --> 01:07:24,003
MMM mmm mmm mmm mmm mmm mmm

799
01:07:28,003 --> 01:07:31,603
Sometimes you have no choice but to take the role of a villain

800
01:07:33,463 --> 01:07:36,043
When the plebs lost their minds and cooked ideas need killers

801
01:07:36,363 --> 01:07:38,583
Do a line of code before I take on that whole coalition

802
01:07:38,943 --> 01:07:42,023
Testing them to see if they still have any cognition

803
01:07:42,023 --> 01:07:44,363
Just hoping they still have at least some of their brains

804
01:07:44,363 --> 01:07:47,543
They crying and lying, melting like sugar when I make it rain

805
01:07:47,543 --> 01:07:50,723
Listening to boomers crash out like it's an epidemic

806
01:07:50,723 --> 01:07:53,943
Mass formation, the Lulu is clearly systemic

807
01:07:53,943 --> 01:07:56,643
I'm trying to snap them out, they're pleb, slop, hypnosis

808
01:07:56,643 --> 01:08:00,263
But it's like they're all addicted to a victim's psychosis

809
01:08:00,263 --> 01:08:03,123
Bitch, I'm watching them burn their bridges

810
01:08:03,123 --> 01:08:06,563
Getting lost in the sauce, firmware is glitching

811
01:08:06,563 --> 01:08:09,663
Bitch, I'm watching them burn their bridges

812
01:08:09,663 --> 01:08:12,863
Lost themselves inside the algorithm's vision

813
01:08:12,863 --> 01:08:16,863
They are so cooked, everyone is starting to dogpile

814
01:08:16,863 --> 01:08:20,043
Big Bitcoins laughing, say-lo when shotting them with style

815
01:08:20,043 --> 01:08:23,083
Copy, paste, repeat, that's your whole religion

816
01:08:23,083 --> 01:08:26,443
Boomers watching credit videos glued to their television

817
01:08:26,443 --> 01:08:29,823
Flat top on his head, no brain between his ears

818
01:08:29,823 --> 01:08:32,903
Call him Big Sean, bitch wipe your salty tears

819
01:08:32,903 --> 01:08:35,903
Fighter pilots in spaces crying like little girls

820
01:08:35,903 --> 01:08:39,163
Claiming that spam is a reason to be clutching their pearls

821
01:08:39,163 --> 01:08:42,123
Try thinking for yourself, that be a plot twist

822
01:08:42,123 --> 01:08:45,383
Sloppers tell you to jump, you don't even question it

823
01:08:45,383 --> 01:08:48,123
Bitch, I'm watching them burn their bridges

824
01:08:48,123 --> 01:08:51,483
Getting lost in the sauce, firmware is glitching

825
01:08:51,483 --> 01:08:54,583
Bitch, I'm watching them burn their bridges

826
01:08:54,583 --> 01:08:57,783
Lost themselves inside the algorithm's vision

827
01:08:57,783 --> 01:09:01,703
When you keep acting a fool, hope people will remember

828
01:09:01,703 --> 01:09:04,923
Gloria is hot, yet they still all condemned her

829
01:09:04,923 --> 01:09:07,963
Just killed some brain cells, listening to Luke DeWolf

830
01:09:07,963 --> 01:09:11,243
I hear the sex isn't even good in their cult

831
01:09:11,243 --> 01:09:14,023
Copy-paste conviction isn't something to flex

832
01:09:14,023 --> 01:09:17,163
Getting glazed by bots isn't the same as having respect

833
01:09:17,163 --> 01:09:20,163
Y'all treating bips like celebrity fanfiction

834
01:09:20,163 --> 01:09:22,203
Overwhelmed with cognitive dissonance

835
01:09:22,203 --> 01:09:23,523
Drowning in contradiction

836
01:09:23,523 --> 01:09:27,463
Telegraphing their demise if a civil attack doesn't work

837
01:09:27,463 --> 01:09:30,743
It's like they're trying to give reasons for the giggle or the smirk

838
01:09:30,743 --> 01:09:34,323
Bitch, I'm watching them burn their bridges

839
01:09:34,323 --> 01:09:35,943
Getting lost in the sauce

840
01:09:35,943 --> 01:09:37,663
Firmware is glitching

841
01:09:37,663 --> 01:09:40,723
Bitch, I'm watching them burn their bridges

842
01:09:40,723 --> 01:09:43,923
Lost themselves inside the algorithm's vision

843
01:09:43,923 --> 01:09:47,743
I don't mind being a villain in the eyes of the plev

844
01:09:47,743 --> 01:09:50,863
I know some beta has a computer folder full of my tweets

845
01:09:50,863 --> 01:09:54,023
Hopefully he's jerking off of me instead of mechanic

846
01:09:54,023 --> 01:09:56,683
At least it would make him slightly less gay