BTC Sessions - Bitcoin Hits $100k For The First Time Ever! The World Reacts ep457

Starting point is 00:00:45 going on everybody welcome to the show what an exciting week been waiting for this for a while uh congrats congrats everybody fuck i just want to get any going here we're just gonna we just need to be happy together how you feeling man bro i posted a video of me dancing yesterday in my underwear that's how i'm feeling oh man it's this has been a long time coming yeah yeah yeah dude so many you know like so many ups and downs the emotional roller coaster uh it was a it was a milestone dude it was like i'm not gonna lie like i we were putting we were posting the like you know the the house set with the price yeah and we were just like i was just dancing with sophie just like we were just like partying around you know like it was

Starting point is 00:01:43 It was crazy, man. I was in denial that it was even going to happen last night. Like, you know, I saw it peaking up 98, 99. And I was like, fake out again, boo. And I just like went. And I was like playing a game on my phone. And I kept on getting notifications. I was like, oh, screw off.

Starting point is 00:02:04 I'm busy. And I ignored it for a little bit. And then I like one, a notification came down from my friend texting me. I was like, oh my God. Wow. and yeah man we like i think i called you i phaimed you i was in bed like just hanging i was like bad it's happening yeah what uh what a ride and like it's it's uh again it's it's poetic that at at a hundred k we would get a bart barbart barb rearing his ugly ugly head once more i've seen uh people

Starting point is 00:02:43 on Twitter just being like, oh, yeah, like this, it feels like the days of old where we, you know, wick up to some crazy price and then just rip right back down. And, you know, congrats to Yellow, who's out of his Don't Stop Believe in Pergatory. And how, again, it was the most Bitcoin thing ever that Yellow had to do his final don't stop believe in spaces below 100K. So it's funny you say that because I reached out to yellow. Okay, because a little bit of context for anyone it doesn't know. This man started spaces with the thing of like, I'm going to do this until this thing hits 100K.

Starting point is 00:03:27 He's not a man. He's a Muppet. Like a yellow Muppet, yellow Greek Muppet. And he started that three days before we hit the top in 2021. Little did he know it was going to be like a three-year-old deal. But shout out to him. 1,100 days. That is nuts.

Starting point is 00:03:48 And then he powered through. I had him on the show like earlier on today, Ben. And I made a joke about it because we were still above 100K. And I was like, so what happened by the time 430 comes around the bright stops? He's like, no, don't say. He's like in his voice. He's like, no, don't say that. And it totally did.

Starting point is 00:04:12 Oh, man. Perfect. I mean, it's great. It's funny because I was pushing. I kept on retweeting and sharing the spaces, be like, we got to get a thousand people in here. And in true, you know, Bitcoin fashion, we came just short of it.

Starting point is 00:04:27 It's like 960 people in there. Oh, man. So much for that. So, well, I mean, it's, It's a celebratory episode. We're going to dive right into all the, and lots of crazy stuff happened yesterday. So we'll dive into it.

Starting point is 00:04:47 I'm going to give a quick shout out to our sponsors here. And Nico, we'll be right back in here as soon as we do. So everybody stick around. Plenty to talk about. We'll be right back. Bitcoin Well is one of the best places to be buying and selling Bitcoin in Canada and the U.S. And now with the advent of Bitcoin well infinite, high net worth individuals can enjoy an OTC desk with white glove experience tailored to transactions of $50,000 or more. This helps high net worth individuals, family offices, businesses, and trust secure the best prices and execute large transactions with speed and efficiency.

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Starting point is 00:06:16 And on top of this, they have plenty of other goodies including the Mark 4, the tap signer, open dimes, the block clock, and much more. If you head over to their website, make sure you use code BTC sessions at checkout to get a nice discount. Links are in the show notes down below. All right, yo, we are back in. Uh, Nigo, there's been, I mean, I felt like the day was just filled with with craziness yesterday, all kinds of stuff going on. And, uh, and, and, and it's been just wild. Um, I, uh, it felt like it was just, I, I don't know how to describe it, but there were so many things going on. So I mean, I'm gonna, I'm, I'll grab your screen up here. But like, what a, what a wild day, um, yesterday was. Like, it was, it was, it was, it was. insane. Dude, it was it was a it was gnarly. It was gnarly. It was historic. The Fiat Times or financial times wrote this article that is like absolutely hilarious in so many

Starting point is 00:07:25 ways and I think it's very fitting because at the end of the day like this is like a vindication for us bitcoins, right? We have have not only been called crazy by our family and friends until a certain point and then they just join us, but by the legacy financial media, which is in the process of being replaced. Because like the legacy media, they just got so many things wrong. And this article is just a perfect embodiment of that. And check out the meme at the top, which is. just so fitting. So for the audio listeners of Simply Sessions, it's essentially like the WoJack

Starting point is 00:08:12 with the I'm Okay face mask. And then below you can clearly see that the WoJack is just crying and in tears, right? So it's like pretending to be happy. But it goes on to say, you're going to, Ben, you're going to love this and it doesn't take too long to read. Regular readers of F.T. Alphaville, By the way, this is an article of Financial Times, and it's called Hoddleers and Apology. Regular readers of F.T. Alphaville may have formed the impression that its current and former writers are united in skepticism about crypto in general and Bitcoin in particular. This is correct. FTA vote FTAV post between June 2011 and today may have communicated the idea that Bitcoin is a negative some game being played on a protocol that's very clever and hypothetically useful as a unit

Starting point is 00:09:09 of account, but is chronically inefficient as a conventional means of exchange and is compromised as a store of value. Our posts may also have promoted the idea that the price of a Bitcoin is an arbitrary hype gauge that's disconnected from any utility the token may have, because it's trivial to duplicate the utility provided by said token. So any intrinsic worth comes from the sunk cost of infrastructure alongside intangibles like regulatory acquiescence interconnectedness with mainstream financial systems, it was once sold as being the antidote to, and the souvenir attraction of, quote, being the first. We stand by every single one of those posts. Nevertheless, with Bitcoin's price recently crossing $100,000, a significant number of

Starting point is 00:10:04 commentators seem to feel they deserve an apology in light of our longstanding criticism. So here it is. We're sorry if at any moment in the past 14 years you chose based on our coverage not to buy a thing whose number has gone up. It's nice when your number goes up and we're sorry if you misunderstood our crypto cynicism to be a declaration of support for tradfai because we hate that too. The meme is just perfect. So yeah, dude. If that's not winning, I don't know what it is, bro.

Starting point is 00:10:42 I love, I love how they still are like, yeah, but it's still dumb. It's dumb. It's just like the most backhanded. like, you know, I guess it went up, but like, it's, it's useless though. And we stand by that. It's just whatever. Like, just so, like, seething in, in this non-apology, but, you know, whatever. We'll take it. A hundred percent. A hundred percent, dude. So absolutely hilarious. And check this out. So, you know, they're saying all this stuff about like, okay, like, You know, Bitcoin isn't this, Bitcoin isn't that.

Starting point is 00:11:28 You know, simultaneously, this is surreal, by the way. The next president of the United States posted this on truth social. This is his words, not mine. Congratulations Bitcoin. I have to say in his word. Congratulations, Bitcoiners, 100,000. You're welcome. Together will make America great again.

Starting point is 00:11:52 Michael Saylor responds with. He quote tweets this and he says, we have a Bitcoin president. And then, like, just a, it's just like the cherry on top response to the Financial Times article. You have Naim Buckele responding to autism capital, which is a very popular account on X. And he's responding to Naim Bukkele. He says, post the portfolio again. It's time to dunk on the haters. Naim Buckele posts on it.

Starting point is 00:12:20 He's made a fortune for El Salvador's treasury. And Elon Musk replies with impressive. Now, the reason this is notable is because Elon Musk, both SpaceX and Tesla, actually hold a significant portion of Bitcoin. Tesla is a public company, so we know they hold about 10,000 Bitcoin. And most importantly, Elon Musk is going to be part of the upcoming federal government in the United States. So, like, dude, this, like, they got this so absolutely wrong, and they wrecked so many people that are not only loyal readers of the Financial Times, they're paying readers of the Financial Times. And for a publication called The Financial Times, they shot the bed in so many different ways.

Starting point is 00:13:18 and the crying WoJack is just a perfect embodiment of how bad they shit the bed, but refuse to admit they did so. Yeah, it's, it makes me think of, and I don't know if you were going to jump to this later, but did you see the clip of Joe Kernan? Yeah, correcting. Who is he talking to in that clip? I don't know. I don't know what the guy's name is, but you know, when the TV anchors start, you know, standing up for you, uh, like, you know you've made it.

Starting point is 00:13:58 Yeah. Yeah. It was one of these, head of one of these institutions that just like refused to jump on the Bitcoin train and, uh, and Joe Kernan like butts in and he's like, yeah, 40% up since the election, but, you know, 60% plus you're over. over a year for 10, 15 years. And then he pauses, he's like, you missed that. The guy's just like, his ego is just beaten and battered at that. He's like, we, we did miss that. Dude, I mean, you can't, you can't, you can't, you can't deny it.

Starting point is 00:14:41 Like, you can't deny, you know, you can't deny that. The thing about number go up, and I've seen this with, like, family friends. Like, I have one holdout who is, like, works in TradFi that, like, is still, I think he's, like, ideologically smoking the Tradfai opium. But, you know, they eventually are saying, like, okay, Nico, you're right. Like, the number is going up, right? So here's the clip. Let's play it. Let's check it out.

Starting point is 00:15:12 I've been a skeptic over the years because of some of the things that you just, you just, just quoted Powell on in terms of its store of value, it's not a currency equivalent, right? It is a speculative asset. And we say, be very, very careful. We don't have an inclined assets right now. There are ways to play it through the exchanges. But certainly it's getting the attention and we're getting lots of questions about it. 40% since the election, but 60% to ARR for 15 years or 10 to 15 years. So you've missed it. We have missed that. Yeah. We did miss the U.S. equity market, though. So we got that, which has been a strong performer over the last decade.

Starting point is 00:15:50 I've been a Skype. So, I mean, like, dude, dude, you know. I love the cope. We didn't miss the U.S. equity market, though. So, you know, we got that going for us. It's crazy, man. It's crazy. Anyways, bro, I think we almost have 100 live viewers on YouTube.

Starting point is 00:16:11 Only 24 likes. Let's get those likes up. If you guys are enjoying the show, smash that like button. Smash the like button. It doesn't take you. You guys are being outdone by X. Smash the like button, YouTube.

Starting point is 00:16:24 Let's go. And shout out to the nostridges. Get the note shared. We're on zap dot stream right now too. Beo, pew, pew. Love it. Love it. Yeah, dude.

Starting point is 00:16:33 It's zap dot stream, man. Okay, all right. Moving on to, speaking of the Orange Man, we are on Axios. Trump threatens 100% tariffs on bricks if they move away from the dollar, right? Quite interesting, you know,

Starting point is 00:16:51 saying like, hey, listen, you're not moving away from the dollar. Here is Max Kaiser responding to the original truth posts, and someone says, how does this pair with the idea of creating a federal Bitcoin reserve? Max Kaiser says it doesn't. I think that's quite interesting. But I think the most fascinating part about this is what is happening simultaneously across the world.

Starting point is 00:17:21 Here is President Vladimir Putin of Russia, not exactly a country known to be, how do I say this? Free and open and democratic. There we go. Nailed it. And, you know, let's check it out. Bitcoin. Who can't say, okay, it's in Russian,

Starting point is 00:17:47 so I'm going to have to translate it. Okay, so who can ban Bitcoin, nobody, and who can prohibit the use of other electronic means of payment, nobody, because these are new technologies, and no matter what happens to the dollar,

Starting point is 00:18:05 these tools will develop one way or another. Because everyone will strive to reduce costs and increase reliability. And that's it. So there's like the Russian, but I don't speak Russian. But the point I'm trying to make is like, guys, connect the dots, right? Do you think that this and this are not related? Of course they're related.

Starting point is 00:18:33 And, you know, it's hilarious because at the same time, Trump is still promoting Bitcoin, which Putin is basically saying, you know what? we're going to probably use this to circumvent sanctions bro and you can't really ban it and you can't really make it go away this is beautiful Max Kaiser called it

Starting point is 00:18:53 this is the global hash war this is the game theory going into account you can't you can't take a negative stance on Bitcoin because you can't ban people from Bitcoin you can only ban yourself from Bitcoin and Russia is

Starting point is 00:19:08 seeing that the United States is going to be having a pro Bitcoin administration coming in and they're saying like hey um we can't get left behind so we're going to legalize mining the president's going to go on a on a tv interview and say hey you know what like you can't ban this thing uh and then news from china that a chinese judge and again china another authoritarian country this judge would not say this without direct approval from the top from you know the CCP is the China is run by the CCP and the judge claimed that Bitcoin itself as property is legal to hold for an individual. Do you think that all of that is a coincidence? Oh, and by the way, not to mention Morocco, which unbanned Bitcoin recently, like a couple weeks ago.

Starting point is 00:20:01 Do you think that's all of coincidence? Do you think that all of this is happening just because of, you know, it's just happening? No, this is because Trump won the election. And all these countries don't want to get caught with their pants down. That's what it is. And this is the game theory. This is the beautiful game theory of Bitcoin. This is why we're ultimately going to win. And you have one of the most, like, it's Putin, bro.

Starting point is 00:20:29 And he's like, well, I can't ban it. It's just here. We're actually going to legalize mine. It's going to be great. Then on the other side, the orange man is like, I want all Bitcoin to be mined in America. you know, congratulations, Bitcoiners, 100K, you're welcome. It was all me, you know.

Starting point is 00:20:46 And then you have the tiny kingdom of Bhutan, right? Who, according to them, values happiness over money. That is balls deep in Bitcoin. They have one third of their effing GDP in Bitcoin. So, like, if you put all the pieces together and connect the dots, it's absolutely like, this is just, this is just absolutely crazy, man. It's wild seeing it play out and seeing the quick flip because everything was so antagonistic just earlier this year, right? Like every bit of news was like, oh, we need to crack down on this.

Starting point is 00:21:28 We need to arrest this dev and do this thing. And I mean, there's still a lot of that crap to sort through. but the incoming administration and the reaction to the incoming administration has completely flipped things and i i get the sense that there's going to be this feeding frenzy where again everybody based on the the the the movements of the u.s are going to kind of rush to to not lose ground because again like this is you know it's it's the wild west or or you know it's the gold rush and everybody's trying to get their peace while they can um and i i don't know exactly how it plays out because again like i'm having a hard time picturing you know like europe i'm

Starting point is 00:22:27 I'm having a hard time. Like, they're so draconian in the way that they're handling payments and the way that they're handling Bitcoin in general. And I'm having a hard time seeing that flip. But, I mean, at the same time, look at what just happened. And I'm sorry if I'm steamrolling some of your topics, but look at what just happened in France. They were about to, they were about to go ahead.

Starting point is 00:22:57 and put unrealized capital gains tax on Bitcoin. And 24 hours later, non-confidence vote. I'll let you touch on it. No, you're absolutely right. That's, you know, and again, like, I don't know what the F is happening in Europe. They're talking. There's a video of a, like, EU parliamentarian, and they're essentially going full steam ahead with a digital ID.

Starting point is 00:23:27 And the guy's basically talking about how that is inevitably going to lead to that digital ID connected to a central bank digital currency. And then simultaneously what's happening in France with the, what you just mentioned, Ben, where, you know, they're essentially introducing. These are, this is crazy. And again, like, I feel like I'm a broken record on Simple sessions, like quoting the sovereign individual so many times. but, like, the reason I believe this is happening is because, like, here it is. The authors of the sovereign individual predicted that with the rise of a new cyberspace and, consequently, cyber money, it will become harder for a nation state to collect taxes from its citizens.

Starting point is 00:24:13 They compare the state to a farmer keeping cows in a field to be milked, but that soon, quote, that quote, soon the cows will have wings. and this is just nuts because like, you know, in any kind of quote unquote Western democracy, right, they're spending billions of dollars funding these foreign wars. Like, I can't wait to find out what Doge, not the alt coin, but Elon and Vivek, start to uncover in terms of what the government is spending on. There was news that dropped today that only 6% of federal workers. in the United States actually show up to office, the rest of them work remote, right? And there's some of the most best paid compensated employees on the face of the planet. And, you know, these governments instead of saying, okay, we have a spending problem,

Starting point is 00:25:10 they continue to say, no, we have a taxation problem. And even some politicians will try to play the whole class warfare thing and they'll say stuff like, you know, tax the rich, when you look at the data, the top 1% pays 46% of the total income tax. So if 1% of top earners pay 40% of the total income tax on a yearly basis in the United States. So again, it's like they're squeezing, squeezing, squeezing, and they're saying shit, like, this is crazy language. The French Senate debate proposes replacing the real estate.

Starting point is 00:25:50 state wealth tax with an quote unproductive wealth tax targeting dormant assets the preliminary vote will only supporting senators present in the chamber is not final legislation the point here is like a dormant asset like who the fuck

Starting point is 00:26:08 excuse me like who the hell are you dude like what do you mean dormant like that's great so just be like just be I can't just have money just sitting there you know increasing in value over time like what the eff is wrong with you like and then they'll come up with terms right to like fit the narrative and fit you know the scheme which is create a dormant asset unproductive well this is

Starting point is 00:26:32 nuts dormant asset is literal like the whole point of money or the original point of having uh this so currency having money is the idea of being able to take the fruits of your labor and store it for the future. That, like, a dormant asset is just you having done work and then saying, I'd like to, you know, redeem that work for goods and services later. What they're basically saying is, if you don't redeem it right away,

Starting point is 00:27:05 we're going to take it from you. Like, there's no such thing. They're saying saving is illegal. We're going to steal it. Insane. It's crazy, dude. It's like, it's literally, borderline

Starting point is 00:27:18 like tyrannical in my humble opinion but again I think France is going to have fun staying poor and a lot of people are just going to leave France like that's what the sovereign individual meant by you know the cows will now have wings and

Starting point is 00:27:35 that's why self custody is so important that's why they attack self custody that's where they try to demonize it that's why they want everyone on a on a central bank digital currency so that you can't escape I mean Christine Lagarde's own words are the head of the European Central Bank. She's a convicted felon, I might add. Even said, you could look that up. Even said like, you know, the problem with Bitcoin is that

Starting point is 00:27:58 it's an escape valve, you know, like, what do you mean? Escape from what? I didn't even know we were trapped in something, you know? It's just, it's just crazy. But anyways, going back to the initial theme of how many things have changed on a geopolitical level worldwide because of the orange man being elected, I kind of want to bring this back to one of the most important cases as it relates to Bitcoin in the United States, which is the Samurai case and the Tornado Cash case. And I have actually some positive updates on you, positive updates for you on that. And just like Vladimir Putin, just like that judge in China, it's not a coincidence. So kind of the theme of today's episode is elections have consequences.

Starting point is 00:28:50 And I'll kind of go through like a couple articles where you'll start to notice a pattern. And again, if you connect the dots, you're like, okay, you know, they're probably not all resigning simultaneously for no reason, right? So first is Jack Smith. So Jack Smith is the special counsel that was a. appointed by Merrick Garland, which is the Attorney General of the United States, to essentially indict Trump. The problem is that when the election happened, they couldn't even say that usually what happens in the United States is like when the Republicans win an election,

Starting point is 00:29:31 sometimes they don't win the popular vote. The problem is that they not only won the popular vote, they won every branch of government. So essentially, like, it's a lot. It's a lot of the popular vote. It's like rats fleeing a ship. They're like, oh my God, we might have like, holy cow, these people are going to power. Uh, we might have broken some laws. You know what? We're going to, we're going back, we're going to back away a little bit. And you'll start to see that pattern. So, Jack Smith, the special counsel is stepping down before Trump goes into office. And all those cases against Trump, they're just kind of dismissed, right? Um, that's not the only person. I'm going to tie this back up to Bitcoin in a sec.

Starting point is 00:30:16 Just give me 30 seconds. SEC chair, Gary Gensler. Also, resigning. It's out of coincidence. I don't think so. I also think his resignation date is poetic. It's January 20th. You know what is also on January 20th?

Starting point is 00:30:35 Trump's inauguration. So he's waiting right before Trump gets into office so that he doesn't get. fired, right? Which is hilarious. Another thing, coincidence maybe, Samurai Wallet and Tornado Cash Prosecutor Damien Williams

Starting point is 00:30:55 to step down in December. Damian Williams, the United States Attorney for the Southern District of New York and the district's chief federal law enforcement officer announced his resignation. He will step down from his position effective at 11, 59 p.m. on December 13, 2024.

Starting point is 00:31:15 It goes on to say, Damian Williams assumed office on October 10, 2021, appointed by who, President Joe Biden. During his three-year tenure, Williams has overseen many high-profile cases, including the convictions of FTX,

Starting point is 00:31:33 SBF, Jeffrey Epstein's accomplice, Guzline Maxwell, the prosecutors of New York City's Mayor Eric Adams, rap artist Sean Diddy Combs, as well as the developers of Tornado Cash and Samurai Wallet Privacy Tools. Edward Y. Kim, the current deputy United States attorney, will take over as acting United States Attorney when he departs. Additionally, President-elect Trump has announced his intention to nominate Jay Clayton, former head of the SEC to lead the office. he goes on to say this was his words

Starting point is 00:32:12 quote today is a bitter sweet day for me as I announced my resignation as United States Attorney for the Southern District of New York it is bitter in the sense that I am leaving my dream job leading an institution I love that is filled with the finest public servants in the world it is sweet in that I am confident I am leaving

Starting point is 00:32:33 at a time when the office is functioning at an incredibly high level upholding and exceeding it's already high standard of excellence, integrity of independence. Quote, independence. That's funny. Damien Williams said in a statement, you know, what's also funny is in regarding to this man right here, Epstein, Cash Patel, which was just nominated to be the head of the FBI, one of the things that he promised if he gets sworn, if he gets, you know, approved by the Senate,

Starting point is 00:33:05 was that he was going to release that said list, which has not been released. least yet. So again, lots of coincidences. So, you know, a lot of these, the prosecutor stepped down and guess what happened around, again, all coincidences this is happening around the same time. Big victory in Tornado Cash case. As judge says, the Office of Foreign Assess Control exceeded authority. Tornado cash users scored a major victory in a United States appeals court after a three judge panel found the Treasury's sanctions against the crypto mixers immutable smart contracts were unlawful. In a November 26th legal opinion, a Fifth Circuit appeals court three judge panel said the Office of Foreign Asset Control exceeded its authority in sanctioning tornado cash immutable smart

Starting point is 00:33:56 contracts, reversing a lower court's decision and granting the platform's users a partial summary judgment. The appeals court panel said that while the Treasury has the power to take action against property, tornado cash as immutable smart contracts were not property under the International Emergency Economic Powers Act, as they cannot be control or owned. Now, the reason this is important is because essentially what the Treasury tried to do is they try to sanction open source software. You know what else is open source software? Bitcoin. And again, you think all of these things, I'm going to go through them really quick, are all happening coincidentally around the same time. No. And it goes back to my initial point as it relates to the geopolitical Vladimir Putin, China,

Starting point is 00:34:52 as it relates to domestic kind of legal regulatory environment, elections have consequences. So for all the people that gave us shit, when we talked about Donald Trump for the year about how it's important that he gets elected, this is why. Elections have consequences, and it's a big deal that, you know, Sailor said it, the first Bitcoin president. Do you think that it's a coincidence that Bitcoin started to prompt as soon as we found out that Trump won the election? That wasn't a coincidence. That was the market saying, okay, right? So anyways, the reason I'm saying all this is because moving forward, we're going to be, we're like, we're going to be covering this at the end of the day.

Starting point is 00:35:43 Unfortunately, we all have this idealistic view of politics, which is like politics don't matter. I can opt out. I can choose self-custody. I don't have to deal with that. Unfortunately, we're still in the transitionary period. and what we need is we need pro Bitcoin politicians, regardless of whether they're on the right wing or the left wing, to get into positions of power,

Starting point is 00:36:06 because that is how the current Fiat world works. And look at all the examples. Like, look at all of them, right? The case is very, very, very clear. So anyways, also, I was sending this to Ben as well, just to kind of give you guys an idea. Trudeau flew to Marilago to have a lunch with Trump. I sent Ben a picture when it happened.

Starting point is 00:36:31 Just to kind of give you that. Everyone's shitting their pants, dude. They're going in there. They attacked this guy like viciously for three years. And they're like, holy shit. He won every branch of government. He won the pop. We cannot.

Starting point is 00:36:45 There's nothing to stand here. We're fun. Actually, you know what? We like the guy. You know what? Justin goes down there, Prime Minister Trudeau goes down there. He's like, Trump, you know what? Actually, we're really good friends.

Starting point is 00:36:58 Me and you are on the good terms. Like, it's hilarious. Did you see the comedy clip that came out of, of, it was like, it came from like a Canadian TV channel. And it was essentially like Trump getting Trudeau to like eat a hamburger or something like that. Did you see it? Reas frame of it, but I haven't seen the actual.

Starting point is 00:37:18 I can have to watch that. Dude, it's so funny. And then, like, Trump gets like a bucket of KFC. And, you know, and then, like, Trudeau's like, oh, this chicken is so nice. And Trump's like, no, no, no, you don't get that. And then he hands him like a McDonald's thing. And then, like, Trudeau's like, oh, thank you so much. Like, you know, you gave me this hamburger.

Starting point is 00:37:41 I'm so grateful. And Trump's like, no, you got to eat it. You got it. You can't use your hands to eat it. And Trudeau's like, no, I would never do that for the dignity of myself or whatever. and Trump's like 20% tariffs and Trudeau's like, I'm not going to do it. Trump's like 100% sheriff.

Starting point is 00:37:56 And then Trudeau's like, I love Canada. I'm going to eat this burger. And he just puts his face in the burger. Dude, it's effing hilarious. But yes, guys, elections, unfortunately, have consequences. That's the reality of it. You want pro-Bitcoin politicians and positions of power because that helps our cause.

Starting point is 00:38:14 Unfortunately, that's the case. Yeah. Yeah, it's going to. be an interesting next year. You know, it's going to be a weird dynamic, too, because like Trudeau's on the way out. Like there's, there's not a snowball's chance in hell of him getting reelected. Like, everybody hates him. His own party hates him.

Starting point is 00:38:37 He's probably stubborn enough to run again. But like, yeah, October next year he's running. Like right now, if there was an election, there is a like 99.9. 9% chance that it'll be Polyev that will be in power. There's a massive chance that it'll be like a full

Starting point is 00:39:00 majority government, meaning like they can do whatever, kind of whatever the hell they want. And then there's even a chance that Justin has screwed things up so badly that there's like a one and four chance that they won't even be the official opposition.

Starting point is 00:39:16 That one of these other third parties will actually be higher than the liberals now that's again it's a one in it's like a 25% chance of that happening but that's still insane like it's still crazy that he has been so horrible for the country that that and it's like the the other party it's not even it's like the it's the block quebecua so like the separatists that wanted to leave, like, Quebec to be its own country, could be the official opposition. Again, slim chance, but it's still one in four,

Starting point is 00:39:56 and that's hilarious. So it's going to be interesting watching Trump deal with Trudeau, or I guess Trudeau deal with Trump, and then get ousted, and then Pahliev have to come in and navigate whatever damage has been done through the first, well, I mean, through the last decade, but also the dynamic between the two administrations. That's going to be crazy to watch.

Starting point is 00:40:20 It's going to be great. And I think it was you that pointed this out to me, Ben, that usually what happens is there's never kind of like two conservative governments in Canada, the United States at the same time, like simultaneously. Like usually there's a liberal government in the United States and there's like a conservative government in Canada. Or like, you know, back and forth, something like that. but it's never kind of happened where there's two. And again, the conservative thing is bullshit,

Starting point is 00:40:49 but I'll phrase it this way. Two pro Bitcoin government, like, that's nuts. Because Pierre is like pro Bitcoin too. So like, are they going to start competing? Like, that's going to be crazy, you know? I wonder if I feel like, again, I know that Pierre's a, he's a bitconer. I don't know that he'll be ballsy enough. to make major moves on the Bitcoin front.

Starting point is 00:41:16 I feel like we got so kind of attacked last time because of the timing of him kind of coming out as pro Bitcoin that that's all he endured for the next couple of years afterwards. And he's probably being pretty cautious about it now. Unfortunately, I'd love to see, I'd love to see him just like dive right back in. But who knows? Yeah, man, it's, uh, I hope so. I hope so. I mean, like, Ben, like, you're pretty famous, dude. Like, you know what I'm saying? Like, you're probably going to land. He's probably going to be on a

Starting point is 00:41:55 Why Are We Bullish episode very fucking soon, man. I'm really excited for that. That would be hilarious. He does follow me on Twitter. Bro, exactly, dude. You got to make that. Oh, my God. That would be so cool. Mr. Prime Minister, why are you bullish? I would love to hear the details as to why you're bullish. And then he drops the Canadian Bitcoin Reserve announcement on Wong. Bro, exactly. We can dream, right?

Starting point is 00:42:24 We can dream. I mean, bro, it's, I'm manifesting this for you, man. You better have me on that episode. I'm going to be extremely upset if I'm not one of the guests on that episode. We've got it reserved for you. Don't worry. Anyways, guys, this was your Simply sessions for December 5th, 2020. I'll see you on the next one.

Starting point is 00:42:45 Bye, Ben. Hell yeah. Thanks, guys. And stick around because, number one, we're going to be right back with the tech updates, but also we're going to be giving away some sats. Get your lightning wallets ready. Make sure that you're ready to scan a QR code on the screen

Starting point is 00:43:04 because whoever stags at first is going to get some free sats over at Bitcoin. Well, but before we do that, we're going to give a quick shout out to our sponsors. So stick around. Get your lightning wallets ready. We'll see you guys in like a minute. DeBify.com allows you to borrow against your Bitcoin in a non-custodial way. Collateral is held in a three of four distributed multi-sig with trusted parties. It provides institutional liquidity providers, loan periods of up to five years with flexible conditions and the best rates.

Starting point is 00:43:36 Best of all, no rehypification of your funds. If you want to check them out today, head over to debify.com or hit the link in the show notes down. Speed is one of the fastest growing Bitcoin lightning wallets out there. It is a fast and secure way to send and receive Bitcoin and Stablecoin payments instantly. You can even swap between Bitcoin and Stablecoins directly in the app. Also in the app, you can buy gift cards for all the best brands and earn rewards in the process. To download Speed, simply scan the QR code on the screen, click the links in the show notes down below, and use code BTC Sessions 10,

Starting point is 00:44:18 to get 5,000 sats for free. All right, we are back in. Let's get Bitcoin Well up on the screen. And I hope you guys are ready to snag some stats here. Yeah, so I'm over on Bitcoinwell.com. Of course, a great place to be stacking stats in Canada and the U.S. If you do want to check them out, there's a QR code for you on the side of the screen to sign up. The way it works is when you sign up, when you buy Bitcoin, when you refer.

Starting point is 00:44:49 for friends, you earn points. Those points can then be used to toss a coin in the Bitcoin wishing well. And every time you do so, you win the chance to win between 500 and up to a million sats, which is wild. So I'm going to do so right now just in the top right hand corner. We're going to toss in 500 points into the well it goes. And whoever scans at first is going to snag 500 sats. So give that a scan.

Starting point is 00:45:20 Whoever grabs it, of course, let us know in the comments, in the live chat, wherever you're watching this. But congrats to those that snagged it. I'll leave the Bitcoin Well QR there up on the side. But let's dive into the tech updates. Before we do, though, of course, it's important to note that that's not the only way you can be earning sats, this bull run. you can also hit up Bitcoin Mentor.i.o. So this is my team, team of educators to help people one-on-one through their Bitcoin journey, learning how to use, obtain, secure Bitcoin in a secure and best practices way.

Starting point is 00:46:06 And you as an individual can become an affiliate of Bitcoin mentor. And so what this means is you're going to get your own special link. You can just scan the QR code on the screen. sign up. When you get your own special link, you can share it anytime somebody needs help, some one-on-one assistance in getting set up with hardware or multi-sig or lightning or running a node or whatever it may be. And if they book a one-on-one session with us, you earn $21 paid out at the end of the month in Bitcoin. And that's not just for their first session, but for every single session they book from then on in. So again, if somebody books 10 sessions through us,

Starting point is 00:46:44 There's $210 for you right there. So what a great way to earn Sats. You can sign up as an affiliate today. Again, you can stack sats. As new Bitcoiners, stack skills. I'll leave that up on the screen there as well. But let's dive into the tech updates here. Let's hit up BigKit version 1.0.7 quick pay for faster payments.

Starting point is 00:47:07 This was needed, guys. This is something that I think should be implemented everywhere. So what do they do? we are thrilled to announce that BitKit QuickPay is now available to everyone in our latest release of BitKit. This innovative feature takes the speed of Lightning Network payments to the next level, allowing debris through small transactions instantly. QuickPay allows BitKit users to set a custom threshold between zero and 50 bucks. This amount will be paid automatically upon scanning an invoice without a need to swipe or approve the payment.

Starting point is 00:47:41 So scan and it's done. I would love this. Again, it's just, it makes it so much more convenient. And the fact that you can set a threshold for that is, of course, important. But you set that according to your own preferences. Again, users can adjust the limit or disable the feature if you so choose. And again, they've got some demos showing this. But, man, I think more lightning wallets need to add this as a feature,

Starting point is 00:48:11 because I would use the hell out of it. Again, we've got our, what do I have on the screen here? I don't even have the, I just realized I was going to mention the Bitcoin sat market that we've got coming up. There's that Bitcoin Mentor affiliate there link, by the way, if you guys were interested. But I was going to say, I would use the hell out of this feature at something like our sat market that we've got going on in Calgary, where we have a bunch of a bunch of Bitcoiners that come together and sell goods and services.

Starting point is 00:48:41 is for Bitcoin. And so walking up to a booth, just scanning and being done with it, I think that'd be great. But anyways, kudos to John Carvalo, everybody over at BitKit for tossing in new great features. Moving on, Olus, I'm not sure how to say it, Oless version 0.1.5. This is an Instagram like Noster client for iOS and Android. So what do they have? Latest update includes Noster Wallet Connect Zaps and introduces a swipe to zap feature. It also enables reposts and incorporates various performance optimizations. Additionally, the swipe to zap functionality is compatible with NIP 60 nutsacks. If you're like, what the hell are you talking about? Nip 60 is something that integrates e-cash systems

Starting point is 00:49:35 via what's the term for it, the cashew protocol, that is linked directly to your profile on Nostr. So you don't even need to set up a lightning wall to be receiving Bitcoin payments, which is super awesome. Anyways, I'm gonna have to try this client. I haven't tried it. I'm on primal. I also use Amethyst, but I need to be experimenting more.

Starting point is 00:50:01 There's so many awesome clients out there for Nostr. Moving on, ARC version 0.4.0, new address encoding, arc notes, market hours. So what is this? By the way, ARC is a layer-2 protocol designed to scale Bitcoin transactions. So they have new address encoding, a significant update to address encoding format now encodes VTXOs or virtual transaction outputs, output script and server public key instead of user and server public keys. Arc notes allow users who are not online often to represent and transfer off-chain balances. Again, market hours inspired by traditional markets where buyers and sellers meet at scheduled times.

Starting point is 00:50:47 And again, they've got some server improvements there. I've yet to try ARC, but I've heard interesting things. And it sounds very promising. I had Peter Todd on a while ago, and he seemed quite interested in ARC. So I'm eager to get playing. Moving on, US officials urge Americans to use encrypted messaging apps. Interesting. This week, the FBI, the U.S. cybersecurity information.

Starting point is 00:51:11 Infrastructure Security Agency, or SISA, along with partner agencies from New Zealand, Australia, and Canada began promoting the use of end-to-end encrypted communications. This already sounds fishy to me, but hey, the initiative is in response to law enforcement backdoors in public telephone networks, including AT&T, Verizon T-Mobile, being exploited by Salt Typhoon, a cyber attack group attributed to the Chinese government. So here you fucking go, guys. When you build a back door to anything and say that only the good guys are going to use the back door, other people that want to get in there don't give a shit about your rules.

Starting point is 00:51:54 If they're going to break the rules, they're going to break the rules, and they're going to use the back doors for their own purposes. If there's a back door for you, there's a back door for everyone. And this is why it's important not to build them. again quote our suggestion what we have told folks internally is not new here encryption is your friend whether it's on text messaging or if you have the capacity to use encrypted voice communication even if the adversary is able to intercept the data if it is encrypted it will make it impossible this is the assistant director of cybersecurity at cisa again it's it's hilarious

Starting point is 00:52:33 because you see initiatives in Europe trying to ban things like encryption, trying to ban encrypted messaging apps. And then everybody's in a tizzy when China inevitably uses the back doors that were meant to be used by the government against their own people. Oh, wait, but not that government. Guys, it doesn't matter who you built it for. Everyone's going to use it. That's the problem.

Starting point is 00:53:01 Moving on. Holy hell. Eclare version 0.11.0. Official Bolt 12 support splicing liquidity ads and on-the-fly funding prototypes. I'm liking everything I'm hearing here. The release introduces official support for Bolt 12 offers and advances liquidity management capabilities, including splicing liquidity ads and on the fly. So Bolt 12, again, you can – I'll give some quotes here from them.

Starting point is 00:53:33 They do say that it's more complex. Bolt 12 offers are more complex due to the use of blinded paths. Quote, we haven't figured out yet how to create default blinded paths that work for any topology. So instead of providing unsafe defaults, we let node operators dynamically configure their blinded paths using plugins. Splicing. I love splicing. So this is when you have a lightning channel and you receive an on-chain payment. normally what would happen is that would oftentimes trigger just a new channel to be created.

Starting point is 00:54:06 But if you have splicing, it actually closes the previous channel, takes the on-chain funds, combines them with the old channel balance, and creates a brand new channel all in one swift motion. So for you as a user, all you see is that your channel just got bigger. And this is what something like Phoenix Wallet is known for and is one of my, favorite features of it. So I love to hear this. Liquidity adds prototype. So empower notes to sell their liquidity in a trustless and decentralized way. That's fantastic. On the fly funding prototype. Negotiate on the fly liquidity purchases when receiving payments using experimental bolt features like splicing liquidity ads. Again, like a whole bunch of awesome, awesome updates here.

Starting point is 00:54:55 Claire, it's been a while since I used that wallet. But, uh, um, uh, uh, Phoenix also uses async. So it makes sense that they would be integrating all this stuff into Claire as well. I got to give a shout out to Art. This is one of his initiatives here. Saving Satoshi. Practice focused game for learning Bitcoin development. Saving Satoshi is a lighthearted interactive science fiction story and a technical game

Starting point is 00:55:19 for developers of all ages who want to learn how Bitcoin works. The gameplay involves a combination of technical text and coding challenges suitable for individuals with basic coding skills. Beginners can easily grasp the fundamentals, whereas more advanced learners can use the challenging four portions and discover hidden Easter eggs. Players of Saving Satoche can learn how to find and decode hidden messages in the Genesis block, elliptic curve cryptography, message, signing, and verification, how to build a transaction, how to build a block template, basics of Bitcoin script, how the Lightning Network works, and more. So anyways, hats off to saving Satoshi, awesome tool for people to learn. This one's huge for my friends in the U.S. We've had bill payments here in Canada for quite some time.

Starting point is 00:56:12 Hats off, of course, to sponsor of the show, Bitcoin Well. Awesome place to be able to pay your bills. Also, again, team at Bull Bitcoin. They've been doing this, spearheading this for a long time, being able to pay bills in Bitcoin. But, I mean, we're lucky here in Canada that we've had these options. But here you go, Jack Mallor's announcing bill pay for strike, get paid in Bitcoin, pay your bills with Bitcoin, and live without fear of inflation. That is awesome.

Starting point is 00:56:42 And actually, you know, my sister's been using some Bitcoin lately, and I think this may be very useful for her. So that's super awesome. I'm going to have to let her know about this new feature. And yeah, kudos to Jack Mallors and the team at Strike for launching this. Fantastic to see. And I have to get a little bit excited about what's going on next week. So those of you familiar, we've been doing these Human Rights Foundation webinars since earlier this year. And what these are is we get groups of human rights activists, political dissidents, international journalists, people like this.

Starting point is 00:57:24 People that are used to censorship and being cut off from the financial system and having difficulty getting funding and getting money to the people who need it most in the most dire of situations. We're teaching them about Bitcoin. And so we've hosted a bunch of these Bitcoin 101 webinars. And for the first time, I'm doing a part two. We're kind of testing it out. It's a pilot project. But next week, for three days, I'm going to be hosting each day a new topic that is related to Bitcoin, tangential to Bitcoin, but just freedom technology.

Starting point is 00:58:07 And so the three topics, number one, is going to be onboarding human rights activists to Noster, which I'm very excited for. We're going to show them how to use primal. We're going to get them set up with their end. We're going to get them interacting with each other, funding a lightning wallet, being able to receive and send zaps. And again, be able to post in a censorship-resistant way, which is very important when you're trying to communicate with people and let people know about stuff and you don't want your stuff taken down. So we're going to teach them about Nostra. That's day one.

Starting point is 00:58:41 Day two, we're going to be talking about coin join, what it does, how it helps, why Bitcoin isn't inherently private and why it might be important to utilize. coin join and other privacy tools. So we're going to be walking through that and how to use it. And then finally, on day three, we're going to be going through hardware. What is a hardware assigning device? How does it improve your security? And we're just going to do like a live demo setting up a piece of hardware, being able to send and receive transactions, being able to use that piece of hardware,

Starting point is 00:59:15 recover, all of that. So I'm very excited to get some hands on with these people. These are all people that have been through one of our prior 101 sessions. And so this will just give them an additional suite of tools that they can begin to learn about and level up their knowledge game. So again, super stoked. Thanks to Alex Gladstein, to Alex Lee, to Anna Chekovich and everybody involved, CK, and the Human Rights Foundation in general for just allowing me to be a part of these. Very excited. Tomorrow, of course, we've got, why are we bullish?

Starting point is 00:59:52 We've got a hell of a panel. Adrian Barrick. I met him in Costa Rica a couple of years ago. He has authored a Bitcoin fiction book called Crazy Farm, I believe. I think I recall that being the name of it. Yeah, I'm stoked to have him on and hear how this has gone for him. We've got Bo Turner, and of course, we've got Flo, and it's going to be a great time. If you haven't seen Flo's artwork, well,

Starting point is 01:00:18 now you have it's right behind me on the wall free ross uh but she's going to be on uh and bow is awesome as well it's going to be a great time so make sure you join in tomorrow a 6 p.m eastern time and then finally i got to throw it up here one more time and i'll switch out that QR code uh the sat market is fast approaching here in calgary in fact it's 10 days away we're getting we're aggregating the bitcoins not just in calgary but in southern alberta in saskatchez in BC. A bunch of people are flying in and we're going to have a hell of a time. We are putting on our local market. If you scan the QR code, it will take you to our website. And even if you can't make it, please do share this site wherever you can let people know about what we're doing.

Starting point is 01:01:06 And maybe they can replicate it where they are or maybe they'll know somebody in the area that wants to join us. But it's going to be an absolute blast. This is our fourth time putting on our sat market, local bitcoins come together offering quality products and services in exchange for Bitcoin. We are creating a local circular economy in a large city, which actually sounds like it's possible, but it's a lot harder than it would be in a small town where you've got a lot more direct connections with people. So we're building it here and we hope other people replicate what we're doing and we hope we can grow it. And we hope people come in from afar to see how we're doing. doing this. Very much looking forward to it. Anyways, with that, guys, I'm going to wrap up.

Starting point is 01:01:53 Thank you so much for watching. As always, please do like, subscribe, share, all those things super important and super helpful to the show. If you want to help the show in another way, hit up the links down below all the previously mentioned sponsors. And if you want an extra way to earn SAT, scan that QR code on the screen, become a mentor affiliate. and help people stack Bitcoin skills while you stack some sats on the side. With that, I'm out. Have yourselves a wonderful day or evening, wherever you may be. I'll see you guys next time for your daily session.

BTC Sessions - Bitcoin Hits $100k For The First Time Ever! The World Reacts ep457

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