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Bitcoin!
The podcast you are about to listen to
is the most thermodynamically sound podcast in the world.
Get ready to join veteran journalists Rod Palmer and Dick Greaser
as they cover the most important news stories happening right now.
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This is the intellectual so-called.
So light up a cigarette and get your lightning wallets ready
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Produced by yours truly, Kaylee Walsh.
Welcome back to Bugle Weekly.
I'm Rod Palmer here with Richard Greaser.
Today we got the mid-year purity test report cards.
Ladies and gentlemen, what do I mean by that?
So the SEC filing for the new venture between some treasury or some zombie company becoming
a treasury company, doing a SPAC with David
Bailey in Nakamoto.
That filing went
through last week, so the filing
comes out. How much
are David Bailey and his lieutenants
being paid to be Bitcoin
podcasters for
this new
public Bitcoin treasury company?
And it's a lot. David Bailey's making
a million dollars a year. He's getting a tie.
The total
compensation package
of Bitcoin podcasters is going
public that is what today is that's the report card so failing your purity tests um has been
shown to provide the or at least be a give a fair market value uh to bitcoin podcasters uh that's
looking really incredible we knew that the value was high we knew that we needed more bitcoin
podcasters but this value was very humbling to competitor as well as seed sire seed signer um
shared that he's struggling financially and is disgusted to see that uh you know people like
david bailey are making more uh than him with the seed signer project and it's they're not alone
they're not alone a lot of people have been humbled by seeing the the fair market value of bitcoin
podcasters and i think i think this might be a vibe shift richard but you know how are you doing
what are you thinking about this this big news babe being a bitcoin podcaster is uh
it's worth a lot it's worth it's more valuable to be a doctor or lawyer
well i i saw something interesting this week uh john seth was tweeting about how uh perry ann
boring is on the uh board of nakamoto and yes one of my major concerns is that uh crypto people
i don't think crypto people should be paid as much as uh bitcoin only people
and i'm looking at nakamoto's website first of all i don't see steven lubka on there which is
kind of weird uh i see amanda fabiano but let's let's just pretend i don't know if amanda's on
the board but i would hope that amanda fabiano would be paid at least 20 percent more than perry
and boring for sitting on the board because amanda fabiano is uh bitcoin only whereas
perry ann obviously isn't she likes to blockchain
yeah exactly yeah i mean perry ann is she's going to provide you value in ways that not you know
every bitcoiner can but the her value uh even on is he had to anything it should be based on the
Bitcoin dominance chart, but I would say, I would say just give her 80%.
Yeah. I, I'm an, a big fan of the gender wage gap personally, because I think it's
a man's job to protect women and just, you know, men are men typically not, not universally.
There's some pretty strong buff women out there, but men typically are stronger physically.
They've been the warriors in society.
They've been the protectors.
And I think it's our role to, and one of the ways that we can protect women is to protect
their innocence and their general karma in paying them less.
They actually end up paying less taxes than men.
and i think it's a really it's a really good thing but you know from that perspective it's
almost like we should pay the bitcoin only people less so that the
the shit coiners are more complicit in paying funds to the state and committing all these
atrocities yeah i mean you could you could do that um i'd still i'm open to it but i would still
want to build it on bitcoin um so i think that you could probably do some sort of uh thing with
you're paying them with payment splits uh on lightning and then you can customize the payment
splits uh for people who are not bitcoin only um you could just shave you know 20 off of that
and it goes back to the company coffers.
I think one of the things people are really sleeping on
is bringing paper Bitcoin to the blockchain.
Because imagine that you're doing paper Bitcoin stock splits
on the Lightning Network.
How sophisticated you could get with that?
Oh, yeah.
I just saw news as well that the Bank of Japan is creating or is allowing the creation of basically a yen stable coin.
So I assume that Tether is going to have a yen stable coin.
And now we can bring the yen carry trade, one of the most famous international arbitrages in the world.
We can bring that to lightning.
If we just have Tether USDT and then Yen, the Yen Tether, whatever that would be, Y-E-N-T, we could just do the Yen Terry trade on Lightning.
It would greatly expand the amount of average and liquidity brought to the Lightning Network.
It could have a huge impact finally on user experience with more liquidity availability.
What's going on in Japan these days?
We've got MetaPlanet, Dylan LeClair taking over, Orange Pill and Nintendo.
We still don't have a lot of inflation.
And so, you know, the Japanese are kind of just a bit ahead of us.
They need to find buyers for their debt so they can print more yen.
And the bank can't buy it all, the Bank of Japan.
So they want crypto traders, they want stablecoin companies to absorb the yen they're printing.
It's getting out.
Japan's kind of a small island.
They're printing so much yen it's starting to overflow.
It's like it'll leak into the ocean.
They've got to get it out.
They've got to get it on different blockchains to kind of soak that in.
So do you think they're going to try and get the global south to be using the yen?
Is that like one of the strategies?
that is uh they are trying to increase their market intact uh in some of the countries in
africa who don't know the difference between chinese and japanese so like the meme they only
really communicate memes so they're they're kind of able to slide in there uh with the yen stable
coin and uh kind of disrupt something that geek that trust over the cia is in there with the
tether memes and they just kind of think like oh this is d-us cia he's asian stable coins they seem
better they're hoping that will work and they might try that as well in the global south part
uh the united states blockchain associations control uh they're going to try to compete on
on tron yeah there's always ways to uh exploit stereotypes and
you know everybody thinks that asians all look the same that's like a very common stereotype right
they the chinese and the japanese yen have the same name they sound the same they look the same
it's definitely a good way to exploit that stereotype i think it was bullish for japan
yeah and you i mean africa they are um it's we don't like to think about this because we like to
think of we like to think that we've projected our colonial values throughout the past 300 years but
you know africans are they can be very racist and they are they are still known to stereotype asians
and uh and say that they think that they all look the same so it's really just a market
explication by the japanese it's uh to cane you know dominant market share pretty smart in my
opinion but um yeah i mean i think so too but talking speaking of uh you know stable coins yen
these potential meme coin markets
that are developing in places,
you know, in the South Sahara,
is purity tests.
So the Bitcoin podcasters
are kind of who demonstrate
a willingness to not be afraid of purity tests.
They doing quite well Podcasters and Bitcoiners in the space who they really take a lot of pride in passing other plants purity tests
They take a lot of pride in passing their favorite Bitcoin podcasts,
purity tests, their favorite spaces,
purity tests, their favorite group chat,
they like their stack in passing purity tests.
It's kind of like people stack A's on their report card
and they start to build their identity
based on their ability to figure out a system
and get good grades from it.
They're doing this, they're gaining value
from these purity tests,
but it is not benefiting them,
or at least they're finding it very surprising
and humbling that it, not living this way,
could still be, you know,
out-de-stack more Bitcoin.
Is it kind of like being the Boy Scouts,
collecting badges?
or accomplishments right exactly you work your way up and you get that evil skill like some
there's a lot of people who feel like they have passed the equivalent purity test uh
of the to be an evil scout in bitcoin should uh btc pins offer badges like accomplishment badges
for different purity tests passed absolutely you could like go to the conference and wear them on
like a hat or uh i don't know what what are those things called yeah like the the sash i mean uh
you'll see i mean think about military uniforms you could wear a jacket you know big winners like
to like the high style now.
You wear a nice sport jacket
over your favorite Bitcoin podcast t-shirt.
And some people like to put like a little orange
where they call it the in the pocket there,
a pocket square.
You have some pins for their buttons.
But you could also like a military genre,
you could put your pins for the period.
It's like I never bought a shit coin.
never you know never fell from the psyop that uh monero was more private than lightning
you know something like never use monero um you know you can do wish peel run knots i mean
be a bitcoin node runner a lightning channel runner like you you stack them i mean some of
these guys would look like dictators from north korea and they probably have um personalities
that are similar. Interesting. Yeah. One of the new tests, which I think is an important test,
Dennis Porter has been decrying Bitcoin influencers that don't run nodes.
Should we be listening to podcasters that don't run nodes or does that mean less signal
in general that that is i think a good a good example of a something that they people might
form as a purity test because it's very difficult to confirm like yes or no right but it's a lot of
pressure how do we know if a bitcoin podcaster uses a note right does it have to be running 24 7
does it have to be um when they're doing certain types of transacting it was like every transaction
they do have to be from their own node is like what does it mean to run a node to use a node
and what is that what does it even tell us anything if a bitcoin possible is very very
adamant about how he runs his node does that really tell you anything about him because you
How can you even know for sure that he's telling the truth?
Well, typically, yeah.
I mean, I guess we need to have auditors opening channels.
For authority verification.
You can open a channel with the Bitcoin Podcaster
and then look at the routing fees,
the routed transactions that you get through your node.
That's one way to do it.
and um just remember just remember any bitcoin podcaster that invites you to open fighting
channels with his lightning node um you know could be a fed so always keep that in mind um
you might need to get some sort of protection for your um for your channels so you don't uh
you aren't exposed to feds i've got a node with or sorry a channel open with uh david bennett
from uh bitcoin and on my note you think he's using are you using protection with uh tor or
are you raw dog and your lightning channel it's your podcaster i think i'm on clear net i think
it's pretty easily discoverable well yeah i just didn't you know when i was setting up the node i
don't want people out there accusing me of not running a node so of course i put it on clear net
Right. Well, I think as long as you are proud of the way you run your node, if you feel proud of the way that you run your Bitcoin node, I don't think that you should have too many problems. I think that you will be able to navigate the gossip network, as it's called, pretty well.
but if you're not proud of your node you should be careful out there because there's a lot of
other node runners a lot of lightning channels there's just a lot of people in the network who
uh they they're looking for people who aren't proud of the way they run their node and they're
looking to take advantage of these people uh so you just want to be careful i think that if we
explained gossip
to women,
there'd be more women interested in the
Lightning Network because women like to gossip.
Not all of them, but a lot of them do.
Yeah, I mean, if
BTC Sessions would make a Lightning
tutorial specifically focused
on gossip, I think
that'd be a really good way
to connect with women.
Females who might want to,
female Bitcoiners who might want to get into
managing their own channels.
Absolutely.
now you know this is the problem the question some of who was it asked by a specific person
i don't know if you want to credit them or if you wanted to protect the privacy do somebody asked
running my note if i run my note should that not be like the equivalent of 40 hours of podcast per
week so is he shouldn't being a node runner uh count as the same amount of uh you know
work work and dedication to bitcoin as listening to 40 hours per week and and he got the nutrition
question but i think it's it's not as simple as that um did you have thoughts on it yeah i mean
know i think it depends like a lot of people treat running node like it's some sort of
accomplishment like you're you're you're engaging in democracy i think this is the the framing that
dennis has i you know i think dennis is almost correct on everything he says but i think one of
his uh weaknesses is that he views everything in the lights of uh government and democracy
and that's the way he translates like kind of like the the fiat standard the book like
safedine went and explained the fiat system in bitcoin terms and uh i think dennis tries to do
that you know with democracy and voting and i just don't think it's that big of an accomplishment
to run a node. And a lot of people are treating like it is. There's a lot of people that run nodes
because there's reasons to run nodes, such as like, you're trying to, uh, you know, sell a
product or, you know, something, and you want, you want to actually be your own bank. You want
to be sovereign. You want to, you want to feel good about yourself. You want to, you know, you
want, you want your wife to be proud of you. Uh, and then there's a lot of people that like treat
it. Like, I think it's kind of an orange shell tendency of like, they treat it like it's a purity
test. Like it's a big accomplishment. It's probably because they haven't accomplished a whole lot
themselves. You know what I mean? The ones that are treating like running nodes as an accomplishment.
It's just like, they they're proud of themselves. They, um, you know, click download and then
clicked install and uh they they see themselves as cypherpunks uh even though they're really not
and uh they they don't even know what ubuntu is and uh yeah what i i i would summarize what you're
saying is whatever but it sounds like to me is what you're saying is that they have placed way
they don't know how to value or how to think about value when it comes to running a note, right?
It's a symbol that they've assigned way too much value to when really, like everything else in Bitcoin,
they use a tool that is a tool that you can use to maintain your sovereignty.
If you use it the correct way, just having it as a trophy in your basement,
it you know with with led lights shining up uh it's like this is my this is my my sovereignty my
my bank is in my basement my bank is in my my office i am my own bank um it's just it's using
it as a purity test you know is a good example where it's you're assigning like you said too
much value to something uh that is much more but now you're making it much bigger than it needs to
and that's a weird thing to do i think you're deifying it listening to 40 hours is much bigger
deal than running a node 100 because there's so much there's 40 hours of work that's put into
listening to 40 hours of podcasts whereas running a node i mean i guess you could spend a lot of
time actually understanding what you're doing but i don't think a lot of people do that it's like
one of the benefits of like umbrella and start nine is you don't have to understand anything.
You don't have to spend any time understanding what you're doing. It's a, one of the benefits
of like PTC sessions, tutorials, like, you know, when you're script kitty, you don't need to
actually understand the code that you're, you're typing out. You can just copy paste.
It's like a mind cook, right? Like you, the chef, the chef is the person who is really, you know,
being creative, creating new dishes, challenging, whatever.
A line cook is just taking a recipe and putting it together
and they're following the steps, they're following the script.
And if you use a start nine or you use BT sessions you following another man script Do you want to follow another man script Or do you want to write your own script and be able to craft your own script and be able to refine it and fix where it fix it where it uh it not working where you might find or do you just want to trust another man script
Um, so that's why it's like people who are using their node in creative, valuable ways.
they would never talk about what they're doing is using my node.
It's, it gives it to that makes sense.
But yeah.
Well, it's kind of the difference between a pleb and a pioneer is the,
the pioneer goes to places where there's no script to follow.
They're writing their own script.
Whereas the plebs just solely lives off of other people's scripts that are
determined for them.
Yeah.
So if you're training, if the way you interact with your node is the way you interact.
If you're like Carl, Rev Hodel, if you're a homesteader, you're creating your reality.
You are building your ecosystem and you're spreading it.
You're creating new channels with other people in your community.
like that if you're doing that with your node then yeah that counts i guess that's 40 hours
of bitcoin podcast per week but if all you're doing is going through the steps
and at least with bitcoin podcast you are paying attention and it's like we there's a lot of things
we do in life where sometimes we're just following the script or we're just following the steps
including our like you know our relationships um and if you treat your node the way that you you
know some people treat their wife they don't pay any attention to it then it's not it's not a
valuable interaction but if you're at least listening uh intently for 40 hours per week
of any activity um you know there's going to be more value there do you know off the top of your
head how many mining pools are running not i don't know they haven't seen any data i only know the
percentage of nots uh nodes is apparently 17 i haven't seen a link to that i've only seen
screenshots um so i don't you know and there's no uh data about how many of those are economic
nodes either um so for all we know i mean we we just don't know a lot i feel like the term
economic node is a pejorative it's not politically correct right it's it's like the um
people talk about before you know this 19 late 1900s right or 1800s you know you had to be
a landowner you had to be a man you had to um you had to have some stake in the community
you had to have you know there's some impact or you know serve some purpose um
especially with money on the line to be able to vote um and then now it's like kind of anybody
can vote you need not that you could just come down vacation in the united states if you're here
on election day you can vote um you don't have to know anything about what you're voting for
um or what you know what information you were told that you're passing on you know whatever
everybody can vote yeah i'm really it's part part part of the reason why i'm not a big fan
of democracy is because everybody can vote it'd make a lot more sense if there was some sort of
restriction on uh you have to listen to 40 hours per podcast a week you have to have read the
bitcoin standard the road to serfdom by hayek uh rothbard's uh history on uh banking uh
i feel like there should be a massive checklist uh i don't think being a landowner should uh
be a requirement anymore because we all know that uh real estate's a shit coin
uh according to safeting so that would uh be kind of contrary to uh the advice you hear on a lot of
podcasts yeah i mean um people people it's like what's the uh like a poll test or you know a quiz
or a test that you have to pass,
a purity test that you have to pass
to be able to vote.
So some people think that
it's not enough to be a node runner.
You have to be an economic node.
Now, the definition of economic node,
there's not a single definition for that.
Everybody kind of views that their own way.
So some people think
that you have to be broadcasting transactions
to be an economic node.
Some people think you have to be a mining node
that is actually building, you know, submitting blocks and all that.
But some people think that you just have to use it to verify your transactions.
And some people, you have got various.
I even believe personally that, you know, just the fact that you were spending your time
and, you know, Start9 Bitcoin node servers was cheap.
So if you spend $1,000 on a Start9 Bitcoin server,
and you are, you know,
contributing to that economy
in such a high-stake fashion,
I think maybe you should be able to vote.
I think that's worth being an economic node
if you own a Start9 server.
I don't think there's any more requirements after that,
but I think if you're going to run it from your laptop,
I think you should probably be using it to broadcast
and, you know, verify and potentially, you know,
be a miner or a solo miner.
start nine puts out their their os that you can put on uh like a typewriter right i'm pretty sure
yeah i think so yeah i would say this is where i would draw the line is start nine uh node
or you know you're basically using your node every day like you know how to actually use the command
line like cypherpunks know the command line and you know ubuntu but uh like umbral and below
not an economic node if you're running umbrella you're probably not an economic node uh not that
there aren't exceptions just that uh you know nine times out of ten okay could it be argued
that a start nine server is uh a shit coin because uh you should buy bitcoin instead
i think that is what i think that is kind of a point i'm making is that if you are willing to
to waste that much potential bitcoin like i mean one a 900 purchase thousand dollar purchase a
couple years ago that's generational wealth in 10 years so if you're willing to sacrifice
that much bitcoin to contribute to the lightning network then yeah i think that uh that that's
enough for some stake it's like a million sats that's the tax you gotta pay that's the tax you
pay. This is the reason why it's important to listen to 40 hours per week folks is you need
entropy because there's a lot of podcasters that'll paint a picture that's very like a one-sided or,
or they'll paint, paint things like they're, um, monoliths. Like the, the thing that people used
to do all the time is they presented a reality where the only way that you should run a Bitcoin
node was on a raspberry pi that was that was something that was done in last cycle so everything
was raspberry pi focused start nine started with raspberry pi before they realized they should
probably use better hardware uh for things like next cloud and you know all the other shit that
they got on there uh you can use a typewriter to either run startup os run umbrella run uh
whatever it is you don't have to use a raspberry pi it could be significantly cheaper
and there's probably less chances of uh massad infiltrating the supply chain in my opinion yeah
and we haven't talked we haven't talked about this like what what are the odds that the massad
has uh put explosives on all the start nine servers well they need to maybe they need to
more transparent about their parts,
everything that goes into the,
you know, open source the model,
so to speak.
Open source the model,
let people,
if your hardware wallet,
your wallet in general,
but obviously hardware wallets
are more prone to explosions.
If it's not open source,
we just can't verify that it's not
potentially infiltrated by Masa.
And there's this thing,
you know there might be some sort of tool that we can develop that you can once you get your
hardware wallet or your node uh in the mail that you can verify that it hasn't been tampered with
um and infiltrated by massad but until and until that you know it's something that you gotta assume
i just tweeted i was asking um how many mining pools run knots charlie spears responded right
away and said 0.5 mining pools are running knots. So I followed up and asked him how,
what the percentage of hash rate is. Now, I think there's a few ways to look at this.
There is the fact that like no significant amount of hash rate is supporting knots.
But I think another metric that would be more interesting to look at is the percentage of
decentralized hash rate that is supporting knots? How many bid axes are supporting knots?
I think it's probably a very, very, very, very high percentage in comparison to the overall
hash rate, which really brings up the importance between decentralized and centralized hash rate.
I think we need a better definition and a clear definition of what centralized and decentralized
hash rate because I think there's a few definitions
but I think
one of the things I've seen a lot
with purity test
is that they like to change
the standards of whatever the test is
depending on
convenience for them so somebody might
pass
a certain purity test
just based on
convenience
and then turns out they
didn't actually really pass the purity test.
They were just given like a,
it's like there's a grading curve.
Essentially.
A lot of times people call it like moving the goalposts.
Yeah, there's a lot of controversy about
Tiendis Owens reporting regarding Emmanuel Macron,
the prime minister, the president of France.
he
he got
through university he got these grades and he was passing these exams that none of his peers believed that he was qualified or smart enough or whatever to pass
but he just kept moving through.
And there's some people who they just kind of seem to gravitate upwards
and influence and power without having to show their grades, so to speak,
show you their credentials, the teary tasks.
They don't have to wear those on their jackets.
It happens.
so you've been following that whole saga with uh candace and uh you know i've been listening to
some podcasts i would have been saying i've listened to 40 hours on candace and france but
i think i'm pretty they got pretty good base knowledge this is gonna be a pretty interesting
revelation if we find out that all the first ladies around the world are actually transgender
yeah i mean just just one kind of just one being a transgender kind of verified
puts the rest of them into question it doesn't we're not necessarily going to get verification
tna tests uh it's we'll be able to trust any videos like if you see michelle obama with a
or like you'll have to assume that that's photoshop or ai but um it makes the whole
makes the whole thing murky it makes you wonder what else
it seems too absurd for them to lie about for them to actually lie about absolutely
um but i think to tie this this thing with nodes up here is if you want to be a node runner
and you still want to be a node runner,
and especially if you are going to try to be an economic node,
it comes with responsibility, isn't it?
This vote's not free.
Roman Storm found that out recently,
and the U.S. government has decided with precedence
that node runners are money transmitters.
So that changes the dynamics.
If you are at risk, should you be, should, if you write an unruly note, should you be exempt from being, you know, having to get a money transmitter license?
If you have a start nine, is that, should you consider filing for a money transmitter license so that you are in compliance?
It's a good question.
I mean, that was like the precedent set in that case was we are all money transmitters now.
Every single one of us.
Podcasters are money transmitters.
Node operators are money transmitters.
Wallet users are money transmitters.
Wallet developers are money transmitters.
Core developers are money transmitters.
Nons developers are money transmitters.
Mining pools are money transmitters.
This is why we preach to you.
the importance and just to understand what you're doing by orange pilling the feds we told
in podcasts on twitter we announced that we are ungovernable we are able to transmit money
anywhere in the world as long as we have access to the internet like nobody could stop us so they
are just they are you know in almost way they're recognizing uh people for what they are which is
money transmitters but with recognition comes what you know what does this mean for us i think
it'd be good to have dennis to uh campaign and lobby for just like a clear way it should be able
to get a money transmitter license as it is to get a driver's license in my opinion
right if if the definition of money transmitter is so loose and so broad then it's really
it's hard to justify the high cost of being a money because you might not even know
you're a money transmitter and you're subject to fines and penalties
this disproportionately affects minorities like these people are uh not able to afford
money transmitter licenses. If you are working the minimum wage, you cannot afford to pay rent,
buy groceries, and still afford to pay for a money transmitter license. But you have to,
the costs have to come down. You can't be, this is what I mean by, there's got to be exceptions,
something, subsidized MTLs. Dennis has worked really hard on campaigning for our right to
self-custody bitcoin and a part of having a right to do something is the right to get a license to
do it many states you have to have a license to own or possess or carry a firearm uh that's a
you know owning a firearm is constitutionally protected right except in california and new york
and a few places uh but you know those don't count as the united states because they're just
blatantly communist but um it's we need to look at it like getting a fishing you know getting a
money transmitter license should be as ridiculous as getting a fishing license at least with fishing
you can't do it on accident at least you can't accidentally go put a worm on a hook cast your
uh cast your line you know snag yourself a bluegill reel it back in you can't do that
If they're saying that you can be a money transmitter without even knowing it, but people not even realizing they are, the idea of a license for such a thing is so stupid.
It has to be abolished altogether, or they have to give them to everybody, I think.
Yeah, I mean, should it be like the selective service when you turn 18 years old as a man and you have to register for a potential draft?
Got to register your note.
you're an 18 you got to register your node so should there be no i i mean i think it'd be fair
to restrict people under 18 years old and you know i know libertarians will get upset about
this because they want to argue the age of consent but to restrict people from being able
to run nodes until they're 18 so they can consent to rape if that makes sense yeah well
Well, the other thing that this brings to question for me is, you know, this is a very big topic in legacy politics, legacy elections.
Should you have to show your ID to vote?
Voter ID, right?
Should, if we say, oh, whether you run a node or whether you run an economic node, that you should still have, you know, secret ballot.
We don't ask you if you're running Knotts or if you're running Core, but should you have the KYC to be able to be an economic node with a vote on the network?
Should you have to identify, hey, this is Rod Palmer's node.
I'll be relaying transactions and fees according to my values from this location.
but when it comes to deciding on bits and hard forks and soft forks,
my vote will be cast from this node, from this identity.
This is by KYC.
Should that be a requirement?
Should you have to KYC to vote?
Well, I know people are split on this.
A lot of people on the right believe that you should.
They believe fundamentally in KYC being a pillar of our democracy.
Now, a lot of people on the left believe that KYC is racist because they think black people are too retarded to KYC.
And so I don't know what my I'm not a huge fan of KYC, but it's not because I think black people are too retarded to do it.
uh but it is it's a tricky question you don't need to be kyc to participate
in the network you just need kyc to vote for your vote to matter for your participation to matter
yeah i think the right generally was speaking be in favor of kyc in your node because
running a node is essentially voting in the eyes of many uh many people right like dennis very
clearly put it out there this week he said that uh he's making fun of shinobi because he
he was saying that running a node essentially lets you impact bitcoin policy it's like i don't
know if he's likening it to voting or he's likening it to lobbying but either way you're
engaging in the political process and if you're engaging in the political process it makes sense
to um kyc because like you know for example like when you go to bitcoin conferences and you have
all these politicians there the secret service will be there and they're kyc and all the speakers
at the conference right so all the people that are that are wearing masks and trying to protect
their image like they're having the kyc with the with the secret service like if if the federal
government if these politicians start running bitcoin nodes and you're interacting with their
nodes it would make sense for the the secret service to to screen you does that make sense
yeah right um here's the i mean i was gonna say this is kind of the dichotomy that i think
some people sense is being built right you've got a very compliant high high level of user experience
uh you know side of the network you've got big paper bitcoin and you've got custodial lighting
you've got some of these enterprise level kyc compliant uh and then you don't have to participate
that you can you can operate out in the more independent decentralized value for value
autonomy. But what Dennis Porter is also doing is he has proposed to the Treasury Secretary,
and he's been an advocate for bills in the state of Arizona and other places where
they create a state or a strategic Bitcoin reserve at the state or federal level.
And it is birthed as a tool to provide wealth to the country and to the voters, the network.
But it is built upon a foundation of basically confiscating Bitcoin and other digital assets from particularly what they call abandoned or non-KYC Bitcoin.
So if your node or your wallet is outside of this system and you cross paths with a Fed, you open a lightning channel with a Fed, you somehow get ensnared where your funds might be at risk or be vulnerable because you try to use an exchange or something, etc.
whatever uh it might be vulnerable because they're not kyc so it is now
taken by the content by the state added to the strategic bitcoin reserve uh and that growing
value is seen by the society is like oh like this is good it is a good thing that we started taking
bitcoin away from non-kyc nodes nodes that don't want to participate in our network uh nodes that
don't want to show their id so they can vote on the next uh you know pull requests on bitcoin core
and in the that's just a situation you you have to be cognizant of and we have to avoid if if we
are going to celebrate a strategic bitcoin reserve built upon confiscating non-kyc coins um
then there are second order of consequences to that that you should be aware of
yeah you know people need to just accept they're living in a democracy they're living in a society
and that not playing by the rules because the rules are fake and gay is anti-social and that
you just have to you have to blindly accept whatever uh the policymakers set into law
as being the case and you know there's this budget neutral uh proposal or idea of uh stealing
people's funds in order to you know fund the strategic bitcoin reserve is it it's an interesting
one for a variety of reasons like one of the things we know is that sanctions work in warfare
you know the the western allies realized this in world war ii in warfare one of the ways that you
win is by terrorizing the enemy population like you just beat them into absolute submission you
just pummel them like this is what uh the israelis are trying to do with gaza right now
with their population they're trying to put pressure on their population in order to to get
them to uh flush out hamas this is what essentially um sanctions are you know in other countries when
when a government sanctions another country it's not about hurting uh the leaders of the country
It's about terrorizing and destroying the population, the local population.
So sanctions work and terrorism works.
And, you know, there's a lot of ways that the U.S. government can get creative in stealing funds.
I know on last week's episode, we were talking about them going after the cartels, Bitcoin wallets.
That'd be a great way.
That'd be a great budget neutral opportunity to boost the strategic reserve.
in my opinion.
Yeah, that is exactly correct.
So if you decide that you want to not KYC your node,
not be an economic node,
that is your choice,
and you can have a really fulfilling life.
But you run the risk as being flagged
or identified by the government as a terrorist wallet.
If your wallet, if your hardware wallet,
if your seed signer, you know,
your cold card gets flagged as a terrorist wallet,
you're going to have problems.
It's going to be harder for you to not be grumpy.
It's going to be harder for you to live your life.
It's going to be harder for you to survive.
But that's what you signed up for.
I mean, so that being a pioneer, that can, depending on your risk tolerance, be part of the experience.
But if you want, if you're going to run the risk of being a terrorist wallet, I would say only risk it if you're proud to be a terrorist wallet.
If you're not proud to be a terrorist wallet, it's just probably a terrible user experience.
Well, one of the things I wanted to talk about before we go into the fountain booths is there's been this new trend on Noster.
So, you know, people are tweeting about how Noster's dead.
That's just like, I think a thing we'll be plagued with for a while is people that are on Noster complaining that Noster's dead.
I can confirm it's not because I've been over there zapping people.
But what are your thoughts on this new trend?
So do you pronounce it?
There's been some debate on how it's properly pronounced.
Is it a vlog or is it a vlog?
It's a vlog.
I think it's interesting.
I think this is a great trend.
And I mentioned on previous podcasts that I think that we have to understand that the Nostra crowd, broadly speaking, is a little bit older.
It's Gen X, some boomers on there, maybe some older millennials.
But it's people with a little bit more disconnected from the current trends on social media.
But all of them are old enough to remember vlogs.
Vlogs were really popular.
I mean, they started in the 90s.
uh i i you haven't heard too many people use the term since uh president obama was in office but
uh it's it's it's good as people remember what those are and they like to participate and they
think and now uh they're on nostril like it's a great time for them to do the vlogs that they
wish they would have done when they were younger that they wish they had the community to share it
with when they were younger uh so there's just a lot of like you know a lot of generation x blogs
vlogs excuse me um so it's interesting it's go it's it's popular do you think the reason marty
marty called it a vlog is because he spends too many time uh interviewing stupid boomers like uh
tom luongo and he's getting his wires crossed yeah i think that's that's that's definitely a
big case it's like uh guys guys that are talking to boomer macro they're they're gonna have some
hiccups here it's gonna be a little bit cringe so to speak um but well what i wanted to say was
what i think the real value here is a vlog is a really good way to say good morning
and people on nostril love to tell each other good morning so i think
like vlogs of of nostril users um they don't have to ask permission they're just gonna post
you know to tell you good morning it's the only cool way it's a cool way to say good morning
interesting it's a revolutionary way it's a decentralized way to say good morning
here's the other thing though uh what you post on nostr uh the the things you talk about on your
vlogs your predictions your takes um your insults your libel your slander uh it's forever um
potentially so remember that this is one of the big reasons pletter does not use nostr and it's
never even when he was kind of fed up with twitter he just couldn't really make the jump over here
there's a lot of reasons but a big one is you have to ask permission to delete your posts uh and
nobody asked to the relay operators don't have to grant that uh and pletter likes to delete a lot of
posts um he'd like he gets a lot of predictions wrong or he misunderstands things that he so he
might you know if you have a tendency to say stuff that you might not want your wife or your boss to
someday um on your nostril vlogs remember you might there are forever absolutely
yeah so it's a permission platform because you need to ask for permission to delete your post
um everything has trade-offs everything has trade-off folks i guess that's one of the lessons
here is it good is it bad i guess it depends on your situation if you're like predator and you
want to walk back a lot of things that you the grumpy things that you say by deleting uh your
post noster is probably not the uh best platform for it um well we before we get into the booth so
we're putting out some paid content, uh, cause we're trying to earn money to, uh,
be able to spend more on a production stuff. I put out a episode, uh, last week asking the
question, was Jesus a Mossad agent? So you can check that out on a fountain and unlock it there
for a dollar or subscribe to us for $10 a month and get access to all the content that we're going
be doing I going to be putting out probably roughly the same time that uh this show drops and you hearing this you have access to uh I going to narrate and talk about the most recent article I had
published in the physical print Bitcoin magazine, the lightning edition came out spectacular.
I'm really stoked about it. So I'm excited to get into that. Um, we also, uh, are digging up some
old stuff so i i recorded uh the job interview with uh rod palmer when i um we're going through
the hiring process right now so i have the first job interview uh that we'll be publishing probably
later this week at some point uh but yeah check it check it out folks i think i think there's
going to be a lot of really good content here uh that you're not going to want to hear yeah yeah
I'm super stoked that you were able to recover the data on your old typewriter.
And then we found the podcast audio of my interview and some of the other reviews you had a couple years ago.
And we were building the bugle.
We started building the bugle.
Yeah, I'll probably be dripping those out.
I'll publish the interview that Ron and I did with Kaylee,
that I did with Maggie.
We'll have some more stuff.
I'm also talking with some other people about some exclusive shows,
but I'm excited.
I'm also started working on the next special investigation episode.
I think this is going to be a fun series that I look forward to.
continuing with but check it out folks subscribe on fountain if you do appreciate it so i think one
thing that we should do every week rod is we should thank our supporters that uh have subscribed
to the bugle weekly uh we've got four right now we've got shadrack open mic avi burra and dave
south side
hell yeah
that's uh
that is kind of who
is the core supporters of the show
um
and I think
as the content that we put out comes out
I think you'll be
there's some more interest
uh in this because it's going to be good
shit
it's going to be some really good shit
but yeah getting into the fountain booths
I mean do you have anything else uh before
we get into the
fountain booths?
No, no, no. I think I'm ready to
see
what people had to say this week. I haven't
looked at the booths yet, so this is my
first glance.
I was
texting or talking
to Fountain about fixing the booths,
so hopefully they did that. We had
an issue last week with them showing
up properly.
So if you ever have us
miss a booth for some reason,
And it's likely due to bad UX and not necessarily us being dickheads and not reading it.
So just let me know.
And we'll correct that.
But last episode.
Yeah, was back in the saddle podcasting.
Again, episode 71.
So we had just gotten, this is our first podcast back from Lake Satoshi.
And if you listen 40 hours per week, you know that the Lake Satoshi episode, there's a lot of those lately.
So obviously it was a good time.
And we talked about, what else did we talk about?
I don't really remember.
I guess we can, the first boost reminded me of a topic that we talked about.
Late stage Honol 5,000 sats.
This is a first on my typewriter.
um lacy chaddle says uh holy shit if long john silver started frying and beef tallow a whole bowl
of these little pieces of crispy fried batter would be so much better than a marlboro red
wait oh better with a marlboro red and not a cedar oil coating i remember sitting in the
non-smoking section of waffle house back in the day as a kid getting my first taste of nicotine
from the table directly behind me what a time the 90s were yeah the 90s were great i mean this was
a topic that we talked about rod we were talking about at the end of the show uh which uh oh yeah
they uh yeah with trust grant uh was gonna bring back smoking inside as like a game changer i just
looked up a picture of long john silber so it's it's more of like a kfc fast food restaurant in my
head i was thinking it was like because i've never been there yeah it's it's just it's like
it's fried it's just fried fish fried fish fries and uh the coleslaw ouch puppies yeah we'll see
if this is a trend of uh more restaurants using beef tallah tell me now cows are cows are cool
again beef's cool again for a while cows were bad for the environment i mean this is just like the
the ebbs and flows of the,
the mainstream NPC version of pod conf is one thing will be bad one minute and
then good the next minute.
It just kind of oscillates back,
back and forth.
I'm sure that a beef tallow will be considered bad for you in a few years.
And it'll be back to make America eat seed oils again.
We'll be one of the campaigns.
Yeah.
some broccoli haircut and zoom or orange pill.
It's going to figure out a way to get us,
you know,
payback millennials and Gen X for making his whole life beef tallow.
But the next one,
next boost,
5,420 saps from another guy we talked about last week,
Otis Bitmeyer,
the guy who makes sound coffee,
some of the best coffee.
I'm still drinking it.
Had some today.
Now,
he says that intro really nails the vibe um and i want to go back to the intro here in a second but
what i wanted to comment about otis was do you think yeah you it seems like he's got he's a very
well grounded very thermodynamically sound uh in tune with you know the value for value lifestyle
makes me think do you think his wife makes his bed for him on that uh that bus the school bus
they're living yeah jubilee definitely makes his bed for him she's a she seems like she's a great
wife she's awesome she she went on his bitcoin podcast she had interesting things to say
it's fun listening to her it's fun talking to her a bit in person she's very committed mother
uh very you can tell that she's very invested in her kids she's definitely you could see the
dynamics there was some cool chemistry between otis and uh jubilee it seems like she is definitely
the type of wife that would make his bed for him yeah it seems jubilee's great she seems like she
has bought in and is uh fully and fully vested in living the um the big the bitcoin podcast lifestyle
the bitcoin podcast or like the you know being the going tampon with the ungovernable misfits
um big day podcasting anywhere uh traveling around cool uh really cool place to live it's just
it's a cool life it's uh it's a good model honestly
it is very cool model well yeah we're um planning on otis or sorry interviewing otis here pretty
soon so i think that's going to be a pretty good show having him on and uh i'm looking forward to
that the the next boost from ludy 250 cents says oh no i figured you were just a pussy
crying emoji smiling emoji smiling emoji that was in reference to uh
what otis said to me when he offered me cream and sugar for anybody that's wondering so
to reiterate the story for people that didn't hear it on last week's show so otis uh asked if i want
a cream or sugar in my coffee i i looked at him concerned i asked him if it was really that bad
he said no i just figured you're a pussy uh so he was just talking shit being an asshole
when you have coffee that good you you can't you can't be an asshole to your customers you
You know what I mean?
Right, people, they like to associate a rude,
entitled, blue hair, liberal arts student from Portland
as being rich to them serving them Starbucks coffee Because there just no reason for you to be so smart but when you actually you actually sell coffee yourself uh like i would just admit myro that as good as it is
um you have to suffer fools you have to put up with uh big quinn podcasters who might be trolling
you about your products like you're proud of it like that's how to see he just has that aura
absolutely
the uh
the next was
500 tabs
from Mr.
Rabbit
um
I don't know
if if you
want to scroll
down but
look he says
good morning
so um
this was coming
in I assume
from Noster
uh it'll be
cool if
uh fountain
lets lets
people post
vlogs uh
as their
fountain boost
uh it'd be
great to get
some vlog
replies or
vlog fountain
boost
that would be great do you have any ideas i'm gonna try and do some uh vlogs this week you got
any uh good topics for me to vlog about um you know there's a lot of topics i'd you need to
imitate american hodl uh you can do what uh you know you could do some like some stuff smoking
cigarettes i needed smoking cigarettes a good time to do a vlog so do your smoke pit session
the smoke pit uh vlog style that'd be cool you know it's a very like common one i've never
understood that people like to do which doesn't make any sense why do so many people do videos
in their cars they're just sitting in their car doing a video being in your being your car is
you should be listening to Bitcoin podcasts.
Probably not vlogging.
I was
posting around with somebody on Noster.
We had a little back and forth.
They say they don't listen to Bitcoin
podcasts when they're driving. I think it's
unsafe to not be listening to
Bitcoin podcasts when you're driving.
That's Otis,
Loody, Mr. Rabbit.
next boost 5000 sats late stage
hot all again says so glad I was
able to share some non KYC
cigs with the bugle boys
I won't dox which one of them
was smoking KYC vapes
I was concerned after not seeing
a podcast confirmed on my founding
node for over a week
I wish y'all had been recording during
Lake Satoshi or maybe
you were if so then I guess
I consented to it and it was a pleasure to meet you
both
I think he waits, I think the late stage huddle and, and, uh, you know, he had had a few blood lights. I think he mistaked a vapor for one of the, for one of us, but, uh, you know, that's partly starchy.
we weren't recording uh okay so here's something that's really really interesting that i think
people should be aware of is how easy it is to put cameras and recording devices and things these days
so almost every like interaction that you're having with somebody at a meetup or something
could be a recorded conversation i mean you assume like everybody's got their phone in them
We already know the NSA is listening to all of our private Bitcoin podcasts around the campfire at Lake Satoshi.
But, you know, like they have those those cameras in the meta glasses now.
Have you seen those?
Yeah. Yeah.
There's going to be a lot more people wearing.
Bruno is recording everything they do.
Every time you see something in public with sunglasses.
I mean, you don't need sunglasses.
they might but didn't uh we knew some people to add some like cool sunglasses that actually
made it so like a camera wouldn't be able to record your face you might need one of those
yeah yeah called reflecticles we should probably figure out how to source some of those so we can
sell them it'd be pretty wild if you could do something with your voice like that in a way that
uh yeah yeah i don't know there's got to be creative solutions to all of these like the
reflecticles i don't know if they work or not i've seen demonstrations of it where they'll
like have a phone with uh with facial recognition to open it and they'll put on the reflecticles
and it won't work and so that that's kind of what they use as evidence of them working
well i've uh you know i heard somebody's working on my key you know the it's like the app um
where you play you push the button and you put it up if there's like a song playing in public
and it'll tell you what the song is and who the who the artist is behind it
shazam right like they're gonna have like if you're in public and you think you hear a bitcoin
podcaster just a podcaster talking you can press this button and it'll tell you which podcasters
in your vicinity and it will also try to verify by connecting on bluetooth if there's a bit chat
nearby so you know that could just be used for people who want to get your autograph uh hang out
with a bitcoin podcaster that could be used by uh the geek state like or an intelligence asset or a
cop yeah one of the things is interesting so like there's people out there with very distinct voices
like shinobi is an example of this like shinobi cares about his obsec but he's in a public place
and he's talking and everybody's heard him yell and call people retards on uh twitter spaces
so he's pretty easily recognizable through his voice like that in person you know and it's
probably not very often that eu um you see a person who's like pretty tall in a mese costume
on the subway or whatever they call it in chicago you know or anywhere else and if you see a me
seeks you know six foot tall me seeks and it sounds like shinobi from spaces um you probably
don't need the app but not everybody is as obvious as uh shinobi might be might be thinking oh is that
harry suddick that deep sexy voice that sounds like harry suddick um it might be him
you know harry suddick's voice in person is just as impressive as when you're hearing them on a
podcast people smoke a lot of marlboro reds trying to get that voice thanks again late stage huddle
uh turkey 500 sats no comment thank you turkey open mic 7777 sats says bugle mile high club to
start the day off right there's another good morning i haven't i haven't been flying on
airplanes very much recently and uh so i haven't been participating in the mile high club for for
any podcast but i have been traveling just with uh with different methods oh yeah i was i drove
to the Midwest, grew up to Lake Satoshi.
Let's do a lot
of podcasts. It was good.
I wonder
it'd be really fun
at some
point to do a road trip across the country
in like an Amish
cart and buggy
or get a covered
wagon. Do a
cross country trip with a
covered wagon. So the Oregon
Trail, the Orange Piddle Trail.
The Orange Trail.
wait what was that guy's name it was it like sid who who rode the motorcycle around the country
turned orange pill yeah we could do the same thing with yeah we should do the same thing with covered
wagons maybe yeah the bits is the pioneer tour pioneer tour in the in the wagon you know who'd
probably do this is shadrack i bet you shadrack would do this yeah we do shadrack the bugle
you know we'll figure it out we'll do the we'll do the pioneer tour you know i'm probably too late
to do it this summer but uh yeah that'd be awesome well if you if you ever listen to anything that
shadrack's talking on he's always talking about his team so he's got a team working with him he's
got other people and surrounds himself with pioneers yeah he's got a team of pioneers
yeah and i'm pretty sure two of the people on his team are named uh
meshak and abendigo so you got shanarak meshak and abendigo doing the orange pill cover wagon
tour across the u.s now what what do you think the motorcycle riders at sturgis would think if
you showed up with the covered wagon would they be welcoming or would they try and kick you out
for not having a motorcycle that's a good question i i it would be interesting to go up there and see
if we could pass their purity test um do you know do you run a hog um and you know maybe maybe they be open enough to sit around a fire and record a Bitcoin podcast with us even if they didn trust us right away
Horses were the original motorcycle, right?
That's true.
it would be uh i think you have to actually ride the horse though uh to be kind of respected or
grandfathered in as a horse rider i think that they probably don't your wife could ride in the
the horse pulled wagon like you know like sometimes the wife rides in the sidecar but i think you'd
have to be the horse rider to get their respect maybe we can we could maybe we can maybe bring
baba with us and baba could kind of be our uh liaison to the um you know to the guys living the
hog life the easy riders at sturgis he can vouch for us i guess he's like these guys uh he'll
appreciate this too uh these guys are bitcoin podcasters but they know how to talk about stuff
other than bitcoin thank god baba is quickly becoming one of my favorite people persons yeah
yeah i think everybody should check out his podcast um with uh he's he's got a co-host i
don't know much about her yet she is uh you know she's just like baba or at least she's not just
like baba but she knows how to take baba's uh personality and uh really get the best out of
them so check it out two angry cunts is the name of their podcast the first episode that i wasn't
to got right to business talking about big titties boobs it was great all tits matter
yeah she uh she's pretty based she's good at podcasting uh yeah so the speaking of shadrack
of course the next one is uh 4093 sats from shadrach he says glad you are back uh 40 hours
per week hashtag yeah shadrach uh thank you for the boost it was uh it would have been great to
see you at lake satoshi that would have been definitely the right vibe for hanging out with
shadrach um but we'll catch you next time we cross paths he was really excited about our episode with
open mic he was shooting me some messages
about it he's
like one of those guys that just like goes
out there and just makes all sorts of things happen
he's a he's a doer for sure
the true pioneer so the last
based hundred sats from
SMB 500
Southside Dave
the B is like a Bitcoin
sign says
thank you Pleditor
Mechanic and Paper Bitcoin Summer
for another all time high
subscribe to the intellectual silk road on fountain and make memes great again oh yeah we
we hit an all-time high last week that's right that's right yeah the bull market's not going
anywhere the bull market is still here um it's a little bit you know it's about as fun as you know
a hand job with no tallow for lube, you know, it's not great, but it's still, you know,
it is still a hand job. And sometimes that's the bull market. You know, we are kind of in a new era.
A lot, we're, we're in a lot more Bitcoin podcasts, a lot more Bitcoin podcasters to really get the
volatility and the excitement per podcaster, uh, that we have in the past. But that is,
that's a sign of growth absolutely is uh well you got any uh any closing thoughts before we
wrap this one up yeah um you know i'll save it now i'll save that for next week but uh
being a node runner is uh it's more than just a symbol being a node runner is a lifestyle it is a
you got to be a pioneer to be you know you got to identify as a pioneer to be a note runner you
can't be a pled and still be a note runner because if you still identify as a plan i just don't know
if you're uh you got an upgrade from the umbrella time to buy a start night absolutely well folks uh
this is the conclusion of this edition of the bugle weekly uh please consider subscribing uh
to the podcast, get access to exclusive content, the most thermodynamically sound content. If you
think this podcast is great, just wait till you see what's behind our, uh, our paywall. And
I'm going to be doing a music show, uh, Monday night on the 18th. So I'm doing that every other
week. Uh, if you want to check that out, I'm going to have some, uh, banger news songs on there.
We got an original from Bubba, which I'm pretty excited about.
First time we're going to feature him.
But thanks again, folks.
Thank you to all the boosters.
Thank you to our subscribers.
Avi, Southside Dave, Open Mic.
Who's the fourth one?
Why am I blanking?
Shadrach.
And hope you guys have a good week.
I don't know why the Lord cursed me.
With the ability to see
A world trapped in darkness
Thinking that it's free
People walk by with blank expressions
Like they're in a dream
But I can't join them cause I've seen
Things I can't unsee
I begged the Lord to take away the weight on my soul
I begged Him to give me peace
And let me feel like I'm in control
But no matter what I do
I can't shake the image from my head
The only path I can walk is to face the fight ahead
I wandered through the desert till I found out who I am
I learned everything I once believed was a vicious scam
The journey taught me to listen and to let go of regret
Now I'm in paradise, chain smoking cigarettes
The future looks bleak but I cannot accept defeat
Getting backed into a corner with nowhere to retreat
The spiders spin their webs in order to trap those who resist
Yet I choose to walk forward into their midst
When I finally die I know I will have lived well
With a clean conscience that I refuse to sell
The rules of the game are grotesque and insane
But if I do nothing I would be the one to blame
I can't pretend to know how this story ends
But I don't have to walk alone because I'm with friends
The journey is a hard one but is the only one
I know the opportunities before me are ones that I won't forgo
I don't know why the Lord cursed me with the ability to see
A world trapped in darkness thinking that it's free
People walk by with blank stares like they're in a dream
But I can't join them cause I've seen
Things I can't unsee