BTC Sessions - BITCOIN ETF UPDATE Fidelity + Goldman Sachs Enter The Scene! ep160

Episode Date: March 25, 2021

📰 Joining an ever-growing pool of applicants, Fidelity files with the SEC to launch a Bitcoin ETF. https://decrypt.co/62750/fidelity-bitcoin-etf?utm_source=twitter&utm_medium=social&utm_campaign=auto 📰 Goldman Sachs files with the SEC to launch an ETF tangential to Bitcoin. https://bitcoinmagazine.com/business/goldman-sachs-to-offer-a-note-tied-to-an-etf-capable-of-investing-in-bitcoin 📰 Morgan Stanley will acquire Korea's largest crypto exchange Bithumb. https://www.fxstreet.com/cryptocurrencies/news/morgan-stanley-to-acquire-koreas-largest-crypto-exchange-bithumb-202103191117?s=09 📰 Bitcoin might be touching off all-time highs… but the amount of Bitcoin on exchanges recently reached all-time lows ⚖️ https://twitter.com/Bloqport/status/1374398481419231244 📰 You can buy a Tesla for a Bitcoin — but now you can buy a Tesla with Bitcoin 🤯. https://twitter.com/elonmusk/status/1374619379929772034 📰 Anthony Scaramucci thinks Elon Musk owns over $5 Billion in Bitcoin — via Tesla, SpaceX, and personally… https://dailyhodl.com/2021/03/20/elon-musk-holds-5-billion-in-bitcoin-according-to-skybridge-capitals-anthony-scaramucci/ 📰 … which The Mooch probably knows a thing or two about — as a key backer of the First Trust SkyBridge Bitcoin ETF Trust. https://www.bnnbloomberg.ca/anthony-scaramucci-is-backing-the-latest-bid-for-a-bitcoin-etf-1.1580544 📰 New research Deutsche Bank ranks Bitcoin as the 3rd largest world currency. Soon… yes… but for now there are still caveats. https://decrypt.co/39425/bitcoin-is-3rd-largest-world-currency 📰 Fed Chairman Jerome Powell calls Bitcoin a better “substitute for gold” than the US dollar. https://www.marketwatch.com/story/feds-powell-says-bitcoin-is-more-of-a-substitute-for-gold-than-the-dollar-11616424786 📰 As it grows more bullish on Bitcoin, Wall Street seems to be less excited for the Fed’s proposed digital dollar. https://financialpost.com/news/economy/the-fire-has-been-lit-u-s-federal-reserves-push-for-digital-dollar-worries-wall-street 📰 The Breez Lightning client has added a native podcast player. Like what you hear… support it a light speed. https://medium.com/breez-technology/podcasts-on-breez-streaming-sats-for-streaming-ideas-d9361ae8a627

Wasabi wallet and fairly private. What's going on, everybody? Welcome to the show. Been a while. I didn't have a tutorial earlier this week. So, yeah, it's been almost a week since I've seen you guys. But welcome, welcome. There's already a bunch of people piling into the chat,

piling into the live stream. Thank you for being here. We got an interesting news day today. Lots of ETF rumblings. Nick Carter is the most violent person on the planet. Lots of stuff. Goldman Sachs is jumping in the ring Fidelity. We've got Morgan Stanley. We've got things with Elon Musk. There's just a ton of stuff going on. We're going to talk about it. And alongside all of this bullish great news, we're experiencing a dip, a sizable dip. We were at 57K the other

day, dipped down to damn near 50 earlier today. And people are like, whoa, what's going on? There is potentially a reason for that happening, and we're going to discuss all of that. Now, as always, this is live. So a quick disclaimer for my good friend Bill here. We'll do it live. We'll do it live. Do it live. I'll write it and we'll do it live.

The thing sucks. Guys, thank you again for being here. Smash that like button. Give this a share and let's get this show rolling. As always, I am Ben with the BTC sessions. And this is your. daily session. Now before we dive in, let's take a look at where we are in the markets.

I'm pulling up the bitbo.io dashboard. We're sitting around $52,100 and some odd dollars. It's been kind of all over the place the last day or so. Even within the past 24 hours, we're kind of around the 54,000 range. But let's just zoom out a little bit to the seven day. It was only, what, like six days ago, something like that, or five days ago that we're around close to 60,000. If we zoom out and take a look at the month, we just hit that all-time high of somewhere between 61 and 62,000 on March 13th. That was only 12 days ago.

Things move quickly, lots of change. Yeah, so there is some reasoning behind these bumps in the price we're going to get into it. But before we do, let's take a look at a couple other metrics. For one US dollar, you can pick up 1,918 sats. That's a sale, my friends. Eighty-eight 8.88% of all Bitcoin have been mined. And in terms of fees, damn, if you need to get some transactions done, if you need to consolidate, move things around, now is the time to do it, friends, 20 sats per byte for next block. if you're willing to wait an hour. In fact, even 30 minutes, seven sats per byte.

I haven't seen single digits in some time. Yeah, wow, cool. I have some shit to do after this. Anyways, really quick, shout out to sponsors of the show, ledden.io. You can use your Bitcoin for a bunch of different stuff here. For myself, typically what I'm using them for is if I ever am in a pinch and I need dollars, I can use my Bitcoin as collateral to get a Canadian or U.S. dollar loan direct to my bank account. So basically deposit Bitcoin, get money to my bank within 24 hours.

And then when I pay that back, I get back the same amount of Bitcoin. So that helps me get around the fact that I'm worried about the capital gains tax on selling. And also I'm worried about having a buyback and at a higher price. So that tends to help me out whenever I need to do that. Also, they've, of course, that got their Bitcoin and USDC savings accounts with interest rates, of up to 12.5% annually paid monthly. And their B2X offering uses the same loan mechanism to instantly buy more Bitcoin if you're feeling really bullish.

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It's super easy with the QR code scanning. really smooth and it feels like pretty damn robust it's like made of metal it's not plasticy or shitty or anything it's pretty solid i use the pro which has the rechargeable battery and the fingerprint scanner and of course i put the bitcoin only firmware on this thing so check it out links are below of course i'm living on bitcoin and one of the ways i can do this is bit refill these guys just have every gift card you can imagine and it's super easy especially using lightning network picking up stuff here. That's what I typically use because cheap instant transactions. Also, you earn Sats back while you shop. So be sure to check out here. You can use the click to

find the country that you need to check out. Love this thing. Love these guys. And finally, guys, please, please make sure your backups are secure and solid on something like a bill fottle. Solid steel is just orders of magnitude better than writing it down on paper. So many times you'll misplace the paper, throw it out accidentally, or just like spill water on it, or if there's a fire, God forbid, that thing could just burn up. So make sure you have a secure backup and Bill Fottle. This thing is where I put my seeds. So be sure to check them out.

Links below. And guys, with that, let's jump into the news. We were talking about price about, and I mean, it is kind of peeking up from that low that we saw earlier today. You know, it was down pretty close to 50. It was like 50,400. And now, I mean, even since I started talking, 52,300-ish. So there is $6 billion worth of options set to expire tomorrow.

So what are options? Let's just kind of break this down. An option is when you're selling or buying the option to buy Bitcoin at a certain price. So let's say I have Bitcoin. and I think that the price is going to go down. And I want to sell that to somebody. Somebody can pick an option for the ability to buy it at a lower price, to buy it at, let's say I have one Bitcoin and I say,

hey, if the price hits $44,000 by this date, you have the option, or sorry, you have the option to buy, Bitcoin at $44,000 from me at a certain price, at a certain date, rather. And so somebody can pick that option. And regardless the price, if on that date I want to, I can buy one Bitcoin off of that individual for $44,000. Basically, you have a ton of people that have sold options on Bitcoin for a lower price. And so those people, you have... are either going to, they're basically going to have to sell Bitcoin at that price. And it's in their best interest to try and push that price as close down low as possible.

And the reason I use that $44,000 price point is because that's where the biggest pain point would be for individuals using these options. And so I'm going to read a little bit here from Coin Desk because I'm not doing a fantastic job of explaining it. But basically, these people selling options, it's in their best interest, a lot of them to try and get it down lower by tomorrow Friday. A lot of options expire than $6 billion worth. So let's read here. So this article on CoinDest says Bitcoin traders brazed for record $6 billion in option to expire Friday.

So yeah, this is a record. It's an old time high in terms of how much money is going to be changing hands. Quote here, they call it max pain in the Bitcoin options market. How to make one trading counterparty suffer the most. Although the largest cryptocurrency was changing hands Wednesday around 56K, traders were handicapping the odds of a plunge to about $44,000 by Friday when a record $6 billion of options contracts is set to expire. A drop to price to that price level would inflict max pain on buyers of options contracts.

and it might be the most profitable price point for options sellers. It's a remote risk, but not one to be discounted. The Max Payne Theory states that the market will gravitate towards the pain point while heading into the expiry. That's because sellers, typically institutions or sophisticated traders with ample capital supply, often try to push the price towards the max pain point by buying or selling the asset on spot or futures markets. The bullish spin is that if Bitcoin makes it through Friday without a major correction,

a major overhang will be lifted. Max Payne for March 26th is currently 44K on Deribit. That does not mean the market will move to 44K by the end of this week, but it does imply that after Friday, this potential downward pressure no longer exists. So we're seeing a lot of people trying to push the price of Bitcoin down in the interim because of the expiry of these contracts that are coming up as of tomorrow. And once we get through Friday, a lot of that pressure of people trying to manipulate that price low so they don't get wrecked effectively goes away. So could we see an upswing over the weekend? Sure, we absolutely could.

Now, will it happen for sure? I don't know. Same as with that 44K. Could we see a major dip between right now and tomorrow? Absolutely. But it doesn't have to happen. These things can play out a lot of different ways. And if it doesn't dip down,

there's a lot of people that have money on the table that could get pretty wrecked over the next day. This is why Bitcoiners just stack sats and sit back and relax. This is why it's such an easier. thing to do because you don't have to deal with this. People can play and gamble on the side all they want. But if you just have Bitcoin and you're just sitting on it for the long term, this noise goes away. It's a lot less stressful if you're not dealing with leverage and sitting on the sidelines hoping that you don't get liquidated. So anyways, best of luck to everybody's shorting

the corn. I hope you get liquidated. Let's move on. So the big news, some of the big news this week. There was lots. Fidelity wants to launch its own Bitcoin ETF. I'm going to read a little bit here from Decrypt. Fidelity, one of the largest financial institutions in the world is seeking approval from the U.S. Securities Exchange Commission to launch a Bitcoin ETF according to a new filing with the SEC. The Exchange Traded Fund would allow retail investors to bet on the price of Bitcoin without the need to buy and store the cryptocurrency themselves, and it would be registered as the Wise Origin Bitcoin Trust. Fidelity Service Company Inc. would serve as the administrator and Fidelity Digital

assets would custody the physical Bitcoin underlying the ETF should it be approved. The SEC has yet to approve a Bitcoin ETF, though plenty of companies have filed one. Of course, there's a guys at Gemini like the Winklevoss wins. You've got Anthony Scaramucci throwing his hat in the ring. Van Nack has been trying to launch one for years. Tons of people. So it's, I think fidelity throwing their hat in the ring is a different story because this is, this is a large financial institution. And I feel like they don't want to waste their time with something like this if it's not going to happen.

And you've got to think that the SEC is seeing fidelity filing for this stuff, not to mention we literally have three Bitcoin ETFs here in Canada available to the general public. right now. The U.S., it's a laughing stock that they don't have anything listed yet. Like, if they keep dragging their heels on this, it's going to be absolutely ridiculous. So, yeah, I would be very surprised if we didn't see a Bitcoin ETF at some point this year. I don't know right away, but I think before the year is out, you're going to see a Bitcoin ETF, at least approved, maybe not listed. I don't know. Beyond that, you have Anthony Scaramucci, like I was saying, the latest bid for a Bitcoin ETF. So the former White House Director of Communications and founder of Skybridge Capital is teaming up with First Trust Advisors on an exchange traded fund that plans to buy and sell the world's largest digital currency according to a regulatory filing.

The goal is that the total value held by First Trust Skybridge Bitcoin ETF is as close to 100% of the net assets as reasonably practical. to achieve. Yeah, so another one thrown in the ring. And then you have Goldman Sachs. Now, this one, a lot of the headlines initially out the gate were like Goldman Sachs, Bitcoin ETF, that's not exactly the case. But they are definitely dipping their toes in here. So this from Bitcoin magazine, Goldman Sachs to offer a note tied to an ETF that is capable

of investing in Bitcoin. And they were specific about the ability of them to invest in Bitcoin. but let's read a little bit of what they said here. So they filed a note with the SEC regarding the ARC innovation ETF, an ETF capable of investing in Bitcoin and Bitcoin adjacent technologies. There's a lot of word salad here, but let's try and cut through it. The note states the ETF is an actively managed exchange trade fund that will invest under normal circumstances, primarily at least 65. percent of its assets in domestic and foreign equity securities of companies that are relevant to the ETF's investment theme of disruptive innovation.

Basically, they want to invest things that are stirring shit up and disrupting industries. Okay. Now, moving on, they specifically say the ETF may have exposure to cryptocurrency, such as Bitcoin indirectly through an investment or grant or trust. So what they're saying is this ETF, while investing in different companies and everything, can also invest in companies that are a trust that holds Bitcoin or some sort of investment that holds Bitcoin. Now, the ETF's exposure to cryptocurrency may change over time. And accordingly, such exposure may not always be represented in the ETF's portfolio. So basically, they're saying we want to do an ETF that covers disruptive technology, which very much,

much covers Bitcoin and companies dealing in that sector. And part of that ETF may be part of a fund that holds Bitcoin. So it's like, it's like the most six degrees of Kevin Bacon. We want exposure to Bitcoin. I've heard. But hey, I mean, Goldman is dipping their toes in. Fidelity is just going balls deep, I suppose. Let's keep going here. Morgan Stanley to acquire Korea's largest crypto exchange Bit Hum in part. So the Wall Street giant plans to invest 441 million in Bit Hum. Following the announcement of Morgan Stanley's first move to offer its clients' exposure to Bitcoin, the investment banking giant has reportedly been in talks regarding the

acquisition of a significant share of Korea's largest exchange, Bit Hum. Citing an undisclosed source within the exchange, local media outlet Naver, reported Morgan Stanley participated in the acquisition of Bithum. The exchange is targeting a $2 billion valuation. Morgan Stanley is planning to invest between $254 and $441 million for a large share of the company. It goes on to describe it more in detail. But again, major U.S. bank rather than fighting Bitcoin figuring out how to get involved. Very interesting to see.

Now, furthermore, we've seen some bullish movement in terms of where Bitcoin is held. So this is a tweet from BlockSport and the charts and data are from CryptoQuant, but basically, it's showing big outflows from exchanges of Bitcoin. And we continue to see this quite a bit. We've seen it all year. basically after the $804 million or $14,608 Bitcoin outflow from Coinbase a few hours ago, and by the way, this tweeted on the 23rd, the total amount of Bitcoin held on exchanges has reached a new low. Yeah, so it continues to drop.

People continue to pull money out of exchanges. There's a lot of speculation around what's happening. A popular theory seems to be that these institutions are buying. buying it up and then just putting it in to custody cold storage to not see the light of day for some time. And I'm fine with that. Also, I think bitcoins in general, like the plebs, have the mentality now of stack sats, pull it into cold storage and just sit back and relax. People aren't as much trying to gamble like they were in 2017. No, I'm not saying that isn't happening.

There's tons of shitcoin going on right now. But the season bit corners that have been around, been around the blog, been around for a cycle, they know what's up and they just don't want to deal with it anymore. And they're just pulling it out and just silently stacking as everybody else takes their turn at the shitcoin casino. So, you know, I think it's a mix of those things and probably some other factors. But cool to see. Elon Musk making waves. from his Twitter feed just the other day

yesterday he tweeted out you can now buy a Tesla with Bitcoin now that tweet to some was very exciting I don't really care like do I want to directly spend my Bitcoin on a Tesla on a car probably not I would I would dump any dollars

that I have first or just finance it rather than early selling my Bitcoin to accomplish that but his second fall his follow-up tweet far more interesting. And I like this. He says, Tesla is using only internal and open source software and operates Bitcoin nodes directly.

Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency. I love that. So they are running and verifying using their own nodes, which is awesome. And beyond that, they're not converting the Bitcoin back. I mean, they don't really need to. Let's be real. They're sitting on tons of cash. But anybody who pays in Bitcoin,

they're just stacking those stats and keeping them off to the side. They know what's up. Accept Bitcoin and save it. Dump dollars if you need them. Great, great tactic. I also, and it's not up there anymore, but on his website,

they said that we are not accept, basically that they're accepting Bitcoin. They're not accepting any Bitcoin fork products, I think, is the way, that they phrased it, specifically naming Bitcoin Cash and Bitcoin SV, the garbage runoff coins that tried to claim to be Bitcoin. A lot of people got mad about that. They then revised, well, a lot of people holding B Cash and SV got mad about that.

Anyways, it was probably enough for them to then revise the language on their website, which now says we are only accepting Bitcoin. Don't try and send anything else to this address because we will not register or notice it and it won't matter if you do. So anyways, lots of fun news all around. Glad to see Elon Musk doing that. And in the same vein with Elon Musk,

he reportedly holds $5 billion in Bitcoin. And this according to Skybridge capitals, Anthony Scaramucci, who we were just discussing. So I'm going to read this here. basically it sounds like Musk has been stacking elsewhere other than just with Tesla. And if so, then we would find that out in quarterly reportings. I'm not sure when those have to come around. But we would find that out in short order like over the course of the next month.

Anyways, Anthony Scaramucci, the founder of Skybridge Capital, says Elon Musk, 1.5 billion Bitcoin purchase is just the tip of the ice. In a new tweet, the former White House communication director reveals that Musk is also holding Bitcoin through his aerospace manufacturing company SpaceX. The quote here, Elon Musk didn't stop with Tesla. I understand that SpaceX owns Bitcoin on its balance sheet. Elon owns over $5 billion in Bitcoin via Tesla, SpaceX, and personally. No living person has done more to protect the planet against climate change. I'm guessing there's some context there beforehand.

But anyways, let's read on. Last month, Microstrategy CEO Michael Saylor revealed that SpaceX is among the 7,000 companies that sent representatives to the Business Intelligence Firms Bitcoin's Bitcoin Summit, an event launched for companies that are interested in buying Bitcoin as a treasury asset. Scaramucci adds that Musk's multi-billion dollar BTC investment is part of his vision to create a world that relies on Renews. renewable energy. And here's this quote. He said the idea that Elon Musk would invest in a, quote, dirty asset is absurd. Futures, future of Bitcoin mining is renewable energy. Elon sees a future in which, one, renewables replace fossil fuels.

Two, Bitcoin demonetizes gold, equities, art, so and so forth, and becomes a dominant store of value. The answer to energy fud is Elon Musk. Yeah. Anyways, so that last statement, I do agree there. You know, obviously Elon Musk is all about solar and renewables and making sure that we don't, I guess, quote unquote, destroy the planet. And he's also probably privy to the fact that Bitcoin in and of itself actually helps reduce emissions. And you can basically take flared methane and flared natural gas or vented, which is way worse when you just vented into the atmosphere,

capture that gas, funnel it into a Bitcoin miner and be printing money effectively while also reducing emissions and making sure that you're being as unimpactful on the environment as possible. Yeah, I think it's a great statement to say that he's pretty privy to that Bitcoin is not going to destroy the planet and boil our oceans. We're going to get into that point a little bit later on based on somebody that actually believes that momentarily. But a few other things first. Deutsche Bank said that Bitcoin is the third largest world currency. Now, this was in a report that they put out just recently. take that with a grain of salt. Okay, so a new research note from Deutsche Bank ranks Bitcoin

in the top three world currencies by market cap of its circulation behind only the US dollar and the euro. There's already a problem with that, but it's not apples to apples, and the report comes with serious caveats. So this was obviously before we had our dip. This was when Bitcoin was a little close to 60K in around the 59K region.

It's circulating supply, multiplied by the value of each unit or the market cap has only has skyrocketed to over one trillion and that puts it larger than a lot of fiat currencies when measured in terms of U.S. dollars. So they said it's too important to ignore with this current market cap. And they go in terms of total currency in circulation, Bitcoin is the third largest in the world after the U.S. and the Euro. This is mainly due to the vast increase in Bitcoin's value. In early 2019, Bitcoin represented only 3% of the U.S. dollars in circulation,

but in February 2021, it surged beyond 40% of U.S. dollars in circulation. Now, they are talking about just base money. They're not talking about additional money in terms of the money multiplier made possible. by fractional reserve banking. They're not talking about M1, M2, all of these different things. They say it would look very, very different if you actually looked at those extrapolations of further money. This is just like base currency created by the central bank. Now, I will flip over to this website, fiatmarketcap.com.

And this is actually looking at that money multiplier. And so it's actually pricing fiat currencies in Bitcoin based on market cap. And that's interesting. And when you do that, Bitcoin actually comes in still pretty high at number 14 in the world. And this is actually looking at that, I believe, M2 money supply. Now, funny note, they omitted, they actually omitted the largest currency on the planet here in this Deutsche Bank report. they omitted the Chinese Yuan, which is hilarious. It's actually almost twice as big as the U.S. dollar in terms of how much is out there

and the value per unit times the total number of units. It's actually twice as big as the U.S. dollar. So that's a fun fact. But anyways, yeah, Bitcoin is still moving up the ranks here. I love that they include on this chart that I'm looking at when it says max supply. It just says unlimited on everything except for Bitcoin. What a great feature that is. Anyways, let's move on.

I mean, all of this, just case and point, the people at the top, the people in charge of these currencies are getting a little worried, I would say. At least Bitcoin isn't like a laughable thing that they just dismiss now. So the Fed, namely the chairman of the Fed, Jerome Powell, he said Bitcoin is more of a substitute for gold than the dollar in a recent meeting here. So said Bitcoin is lacking key ingredients that would make it a useful currency. As a result, the cryptocurrency is essentially more of a substitute for gold than the dollar. Fed chairman Jerome Powell said Monday is quote, crypto assets are highly volatile, see Bitcoin. And therefore, not really useful as a store of value.

They're not backed by anything. They're more of an asset for speculation. He said it is essentially a substitute for gold rather than the dollar. It's funny because he says they're not useful as a store of value. But this is a substitute for gold and not the dollar. Those two statements seem at odds for me. Anyways, he goes on to say that stable coins are in an improvement over crypto assets, but their credibility comes from being backed by a sovereign currency.

He said, I don't think that's an accurate statement either. I don't think credibility comes from being backed by the most inflated currencies that we've seen in ages, where it's just money printer go burs 24-7. not to mention you're adding counterparty risk to the equation. So you don't actually just have the dollars. It's like, okay, I've got a token that is supposed to be backed by dollars. You know, there are audits depending on what stable coin you're dealing with. But, you know, there's additional counterparty risk.

So I don't think that's an improvement over something where the asset is natively digital. And you can verify that you have it the moment you actually have it with your wallet and your note. Now, he said, he goes on to say stable coins may have a role to play with appropriate regulation, but that role will not be in the form of the basis of a new global monetary system. Again, I think you're fucking wrong. Jay Powell, I think you might have that a little bit wrong. A global currency governed by the incentives of a private company is something that will deserve and will receive the highest levels of regulatory expectations.

Dude, the Fed is not run by the government either. It's a private entity. What are you talking about? Anyways, I'm done with this. I think that everything that has come out of his mouth is come from a position where he's used to the Fed being the be-all, end all, of everything for the globe. I think that time is very much coming to the end.

not immediately. It will take some time, but I think it's quicker than most imagine. And all of this, of course, while the White House aides prep a $3 trillion jobs package for Biden. Trillion guys. Trillion is like it doesn't even matter anymore.

How many trillions? I think like six were already created out of nothing in the past year. It is unprecedented. I saw a stat the other day. I think it was between 30 and 40% of all U.S. dollars were created in the last calendar year. If this three-trill goes through, then I don't even know what that puts us at. But it's clearly like it's literally just monopoly money at this point.

And it's it's not likely to stop because they just put through $1.9 trillion. And now it's like, okay, let's move on. Let's add a few more T's in there. Let's get another three trill going. guys, we can't let this stop. Holy man. Okay, I'm going to round this out with a couple of fun things here. Breeze, Breeze Wallet, Lightning Wallet.

I have done a video on it. Apparently I'm going to have to do an update on that. But Breeze Wallet has added streaming sats for podcasters. This is awesome. I'm not on there yet. I need to get a few things going. There's some links and setup that were not easy because I'm on Anchor. And I guess that's a bit of an issue.

Anyways, I will sort it out. But basically the Bitcoin Lightning Wallet, known as Breeze, now has a native podcast player in it. And you can still listen for free, but you can also set a number of sats per minute. You'd like to contribute. You can set a total number of stats for the whole podcast, and it will divvy that up as you listen. It's super awesome. I love this idea. I think it's fantastic.

So I'm just going to read a little bit from some things that I highlighted here. So the podcast value standard, let's creators list themselves on the podcast index as lightning-enabled content. Users can then subscribe directly over RSS feed and podcasters can collect users' payments directly over lightning. As a whole, they call Adam and Dave the creators of this call this kind of interaction podcasting 2.0. It renders distributors and entth party monetizers obsolete. Podcasters and listeners become more directly connected, senders and recipients. Podcasters send content over RSS and receive payments over lightning. Listeners receive content over RSS and send payments over lightning.

And tracking the flow of tips over the course of an episode, let's podcasters adjust their own content to their listeners' preferences, not their advertisers. Listening lets podcasters receive payment directly from their listeners without, or sorry, lightning lets payments come directly from the listeners without being subject to any intermediaries shakedown scam. It obviates platforms, banks, and advertisers. Again, I think this is fantastic. I think it's so cool.

I downloaded the update today. I already see like Tales from the Crypt and Bitcoin Audible and John Valles with Bitcoin RapidFy. and a boy named Sue and there's a whole bunch of great podcast, Bitcoiners on there and non-Bitcoin podcasts and you can just plunk in there and just start using it.

I'm going to do a video on this soon. I think it's fantastic, cool to see. Yeah, amazing. And finally, let's end with this because this, oh my God. Okay, there's a guy named Eric Halthas

and let me read you his bio, and then you'll get a better picture of who he is. Meteorologist, climate journalist, dad to kids and plants, he slash him, eco-socialist, hashtag actually autistic, the future Earth. So that's his bio. He quote tweeted the Bitcoin 2021 conference, which by the way, I'm so excited for. There's so many great speakers. But besides the fact, Bitcoin 2021 tweeted an announcement that Nick Carter is speaking.

He's from Castle Island Ventures. He's done a lot of great podcasts. He's done a lot of great debates regarding climate-related stuff and energy consumption with Bitcoin. He's written some great pieces all around great guy. Also, if you're watching this, his picture, he's like the most unassuming, you know, nice kind of like, it looks like he should be wearing a little. bow tie. He looks like a very nice boy. He's a grown man, but like he's, he's just very,

I would say, like the picture that I'm looking at right now. I'm not particularly like intimidated. He looks like he'd be nice and very polite. Anyways, so they announced that he's going to be speaking. And Eric Halthas retweeted this with this unassuming picture and said, these are the libertarian nerds who are actually currently torching our planet's clean energy future for fun and profit. By any definition, they are some of the most violent people on Earth, putting vulnerable and marginalized people's lives at risk for their own wealth. Literally the most violent people on Earth. I don't think this guy knows what a libertarian is. Like it's literally about to each their own, leave everybody alone.

Don't hurt anybody. You know, free market, leave everybody be. As long as you're not hurting somebody, then go about your business. Anyways, this then spurred on, like I already even replied, things are about to get violent. Look into the eyes of your destroyer. And there's so many comments about the violence thing, which I found. so funny. But I woke up this morning. I was like, I got to make a meme out of this. And so I made these memes and I said, ladies and gentlemen, I present to you the most violent Nick. And I mean,

he did respond. He thought it was funny. But I just, I'm not going to read them out. But I just, so I made like four different memes of, of Nick Carter with like an overlay of a black and white photo with red and then I gave him one laser eye and it's like anyways so I put this up there's it's been seen by like tens of thousands of people and my favorite part about it is everybody joining in there's so many people and some of them are are pretty good but there's so many nick carter memes that have been happening and I'm so all about this. Anyways, guys, you can find that in my feed. If you want to make one, please do.

Very happy to see this happening. I think he even tweeted out afterwards. He's like, in a move that surprised no one, Bitcoiners have taken things way out of hand once again. I agree. Things really escalated quickly there, but I'm happy they did. Anyways, guys, I'm going to wrap up there. Thank you so much for watching and or listening if you're on the pod.

Be sure if you're on YouTube, hit, like, subscribe, and share all those things. Help so, so much. Thank you to those of you that have been doing it because every time it bumps these videos in front of more people. Now, if you want to help out the show in another way, you can head up the sponsors. I mentioned, Leden, Cobo, bit refill, and Privacy Pros for the Bill Fottle. All that is linked down below. And of course, if you really liked what you saw, you can drop me a lightning network tip. and by the way, thank you for those of you that have been dropping stats.

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With that, I'm out. Have yourselves a wonderful day, a wonderful evening, wherever you may be, and I'll see you guys next time for your daily session. Hold all by Bitcoin.