BTC Sessions - MAJOR Swan Lay Offs & IPO Withdrawal?! ep428

Episode Date: July 25, 2024

Welcome to this week’s Simply Sessions, your go-to source for the latest and greatest in Bitcoin news! In this episode, we explore groundbreaking developments in the Bitcoin world: • In major shake up, Swan announces staff layoffs and cancels its IPO plans. • Trump takes aim at Nayib Bukele - will he stand his ground or step back? • Meanwhile, Fold is set to become the first publicly listed Bitcoin financial services company, boasting 1000 BTC on its balance sheet! • Craig Wright publicly admits he is not Satoshi Nakamoto. • Finally, could Senator Lummis be on the verge of announcing legislation that would force the Federal Reserve to hold Bitcoin as a reserve asset, with backing from Trump?! Tune in for all this and much more! BOOK private one-on-one sessions with BITCOIN MENTOR! Learn self custody, hardware, multisig, lightning, privacy, running a node, and plenty more - all from a team of top notch educators that I've personally vetted. https://bitcoinmentor.io/ 💪 SUPPORT THE SHOW: BITCOIN WELL My favorite self custody bitcoin platform in Canada and USA! They offer KYC free accounts, 1% spread, no on-chain fees and tons of other incredible features. Check them out at bitcoinwell.com/btcsessions https://bitcoinwell.com/btcsessions COINKITE offers the BEST Bitcoin hardware on the market. Use this link to get 5% off anything in their store: https://store.coinkite.com/promo/BTCSessions HODLHODL is a NON-CUSTODIAL, ANONYMOUS solution to stack sats peer to peer! Buy and sell Bitcoin while maintaining privacy. Sign up and try it out today! https://hodlhodl.com/join/BTCSESSION Speedwallet - your one wallet to send, receive, shop & earn. Simple, fast and convenient! Download now, use code this link & get 5,000 SATs on your first transaction. https://www.speed.app/sweepstakes-promocode-btc/ DEBIFI is a non-custodial Bitcoin backed lending platform with institutional grade liquidity providers and no rehypothecation of your funds. Find them at: https://debifi.com/ #BitcoinNews #BitcoinNewsToday #Bitcoin #SwanBitcoin #Trump #Bukele #Crypto #SimplySessions

Yo, what is going on? Everybody, welcome to this show. Another Thursday, another episode of Simply Sessions. And we're going to be diving in to the latest and greatest in Bitcoin just momentarily here. I want to give a shout out to my regular co-host, Nico, of Simply Bitcoin. And he is not joining us on the show today, but it's for an excellent reason, I've got to say. I'm just going to go ahead and I'm going to share my screen right away here. Nico is at the Bitcoin Conference in Nashville and he got to do a little takeover of the news desk today, him and Opti, Simply Bitcoin represent. So I want to give a tip of the hat to the team at Simply awesome job guys. love to see it, and I'm super happy to see them absolutely killing it there in Nashville.

But with that said, we are going to be still moving ahead with the news. I'm going to head up the news and the tech updates today. Of course, this is live. Anything can happen. So I defer to my friend Bill here. We'll do it live. Do it live. I'll write it and we'll do it live.

The thing sucks. And of course, Of course, if you have not already, please do like, subscribe, share, all those things. They help a ton getting this content in front of more eyeballs. I am Ben with the BTC sessions. This is your Simply session. Before we dive into the news, we're going to take a quick look at where we are in the market right now. This is Timechain Calendar.com and simultaneously.

I'm going to bring up that live chat as well. Everything you say in there from here on in will be live for the world to see for better or worse. over on timechain calendar.com. We are sitting at $65,926 per coin. A single U.S. dollar will snag you 1,517 sats. In terms of fees, low, low, low, four sats per byte. Next block any time two sats per byte, will the mempool clear? We shall see.

And of course, in terms of Bitcoin mine, 19.73 million of them, that is 93.95%. of the total supply. We're going to give a quick shout out to our sponsors, and then we will be right back. Mission to enable independence by being one of the easiest and quickest ways to purchase Bitcoin in Canada and the U.S. The best part about it, every buy goes directly into your own self-custody.

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And you can check out the links in these show notes down below and sign up today. Coin Lightning Wallet built with simplicity in mind. Spend and receive with ease. Claim your own lightning address, shop your favorite gift cards, and even earn rewards when you spend. head over to speed.app to download the app on your mobile or desktop today and use the link down below to get 5,000 sats for free and have the chance to win even more. All right. We are right back in. Shout out to everybody in the chat there. Good to see you guys. Thank you for being here. Satwise doodle. Think orange dig dugs. Again, love to see you guys each week and everybody else that's chilling in there. But we're going to dive into, in my opinion, some of the time. of the bigger news that came out this week.

And unfortunately, that has to do with a number of people that I consider friends over at Swan. It looks like Swan is canceled its public listing plans and rolls back its mining business and most importantly, cuts a whole bunch of staff. And so that's always sad to see. So we're going to take a look. So the quote here from Corey Clipson, CEO, Swan is unlikely to continue to continue to with their managed mining business in the near term. Without the expectation of significant near-term revenue from our managed mining unit,

we are pulling our plans to IPO in the near future. Accordingly, Swan is pulling back from our accelerated spending plan for our core financial services business. Unfortunately, this includes staff cuts across many functions. Earlier this year, the company said it will go public within the next 12, months and the mining unit had 160 megawatts or 4.5 x a hash per second worth of computing power up and running and a tweet from Swan. If anyone is looking for amazing front-end engineers, EUX designers who code or back-end talent, we let go of a few amazing folks today at Swan. Bitcoin companies hit me up and I'll matchmake. And I just, again, the main focus here,

for me is the people, the awesome people that were working there that were kind of surprised to see everything kind of disappear for them in terms of employment overnight and very unexpectedly. So, you know, just some people off the top of my head, Tomer Strolight, Stefan Lavera, Camilla Campton, Dante Cook, Sam Callahan. There's so many, you know, awesome bit corners that were there that, you know, are now kind of, you know, Chris Alamo, another awesome, awesome guy. There's too many to list here. But I will say, again, if you are a Bitcoin business and you are looking for incredible people to come help you in your endeavors, then there's suddenly a lot of very talented people that are ready and looking for work.

So yeah, please reach out to them. Now, in terms of my personal feelings around this, you know, they were spending a lot of money, no doubt. I think maybe a little too much, a little too fast. You know, and even there were job postings up from Swan still just days before this announcement. So I think maybe it was just a little ambitious. And unfortunately, and maybe there was some anticipation of, you know, Bitcoin bull run hitting sooner than the normal. Or again, it's hard to specifically comment.

I don't know what was going on internally there. But again, my thoughts are with everybody that kind of got the shit end of the stick here. and I hope, and I know that a lot of them are very resourceful, and they will land on their feet. But if you can lend a help in hand to any good bitcoins, please do reach out to them. Now, on the more positive side of things, Fold is set to list on the NASDAQ with over a thousand Bitcoin in their corporate treasury. So a few quick things here, financial services company Fold and FTAC Emerald Acquisition Corp have entered into a definitive, agreement providing for a proposed business combination that will result in fold becoming a publicly listed company quote the transaction implies a pre-money equity valuation for fold of 365 million

dollars it is anticipated that post transaction fold will have more than a thousand bitcoin on its consolidated balance sheet fold expects to use the proceeds to accelerate the growth of folds operations and treasury. Yeah. So the other quote from Will Reeves, the CEO, said, we've stacked over a thousand Bitcoin into our treasury, and we intend to stack thousands more. We're turning Fold into an unstoppable Bitcoin accumulation machine

for our customers and future shareholders. So hats off. Congrats to Fold. Also, when Canada? What the hell? Like, they were here in 2014. I was able to use them to buy gift cards for Starbucks back in the day with Bitcoin. And then if you didn't use the whole gift card, you could actually get a refund for the remainder back into your Bitcoin wallet.

Yeah. So anyways, they were in Canada at some point and no more. And I keep on bugging them. So Will, when Canada? What the hell? Let's make it happen. Anyways, moving on. So, so so Trump is.

speaking in Nashville coming up here in the coming days for the Bitcoin conference. But in a couple of his recent talks, he was taking jabs at Naïbe Buckele, president of El Salvador. And the stuff that he was saying also was kind of bullshit. And I don't know if he's just being fed bad information or he's come to his own conclusions. But he's basically talking about how Buckeh. Kelly has managed crime in the country. And so here's his quote. He said, in El Salvador, murders are down 70%.

Why are they down? Now, he would have you convinced that because he's trained murderers to be wonderful people. No, they're down because they're sending their murderers to the United States of America. This is going to be very bad and bad things are going to happen. Yeah. So that's obviously, and a lot of Bitcoiners are familiar with the fact that that's not what happened. There was a massive crackdown. There was a state of emergency.

Buckelly built a ton of very, very large prisons. And as of 2023, the country's prison population was about 1.7% of the country's total population. Now, you can like that or not like that, but that's why crime is down. all of the gangs and everything were basically rounded up in like overnight military operations and shipped off to these prisons. They're not shipped to the United States. Now, obviously, when this started happening, there likely were some gang members that fled El Salvador. And perhaps some of those people, because of the state of the South U.S. border, made their way into America. America, but that wasn't Buckelly sending them to America.

That was him cracking down on crime in his own country, again, through a mechanism that people may or may not approve of, but, you know, crime is down because he cracked down on crime and criminals that did escape left because they are no longer welcome. So nonetheless, yeah, Bucheli did reply. said taking the high road, he did not directly respond to Trump. So it is what it is. Again, I think it's a bad take. And who knows?

Maybe it'll change his tune, but I'm doubtful. Let's move on. It is, I'm changing. I'm going to turn off the sound here. Senator Cynthia Loomis is looking like she made. have plans to announce legislation for a strategic Bitcoin reserve at the Nashville conference. And so she has, she's a pro, we'll say pro-crypto, but pro-Bitcoin Republican. And she's from in Wyoming.

And she's looking to make some big news preparing to announce she's crafting new legislation that could radically alter the burgeoning crypto business by firmly, establishing Bitcoin as a mainstream financial asset. And this is according to sources. And I don't know. Again, there's been a lot of rumblings here, but nonetheless, we'll continue. So according to three executives with knowledge of the bill, Loomis has been quietly working to announce the annual,

the bill at the annual Bitcoin Conference legislation that would require the federal reserve to hold some Bitcoin as a strategic reserve asset. Lemus' plan, as the story goes to press, remains in flux and an announcement could be delayed. But people who have been in direct contact with some of Lemus' staff say she is hoping to announce her attentions on Saturday at the conference just before Trump's scheduled speech. Her staff hopes Trump will endorse the bill and the idea behind it. These people say she could also announce a bill during a fireside chat on Friday afternoon, moderated by former Democratic rep Tulsi Gabbard, who has.

is now supporting Trump's attempt to retake the White House. Yeah, so that could be. And, I mean, she has been teasing it on Twitter as well. Big things are in store this week. Stay tuned with B with the Bitcoin B. Yeah, I mean, we'll see. Again, I try to approach these things with a decent amount of scrutiny. I, my brain says this isn't going to happen in terms of whether or not.

audits announced. My brain is telling me that, you know, this type of action is not going to happen anytime soon because it would have to get approval to actually make it into legislation, make it into law, rather. But also, I've been very surprised by how quickly things have moved in that Bitcoin is now a presidential election issue. So I could be totally wrong on this. I want to maintain a healthy amount of skepticism. And also, I mean, I'm not, I just want to say, I'm not super keen on the idea of the Federal Reserve owning Bitcoin because I don't think they deserve to.

They're the reasons that Bitcoin needed to be created in the first place. I'd rather all the people that got screwed by the Fed be the ones to be able to stack Bitcoin and, you know, the Fed not be able to insulate itself. But I suppose Bitcoin is for enemies and anybody can use it. And if anybody couldn't use it, then it wouldn't be as good as it is. So nonetheless, we'll see what happens. Now, some wonderful, wonderful news. This is from earlier on.

But if you didn't see it before, you know, this happened about a week and a bit ago. But it's great if you go check out Craig Wright's website. his ex-account and I think a few other places that he's online. He put in this. He was legally required to put this on his website. It said legal notice in big bold letters. Dr. Craig Stephen Wright is not Satoshi Nakamoto. On the 20th of May, 24, Dr. Craig Stephen Wright was found by the High Court of England and Wales to have been dishonest in his claims to have been the person behind the pseudonym Satoshi Nakamoto, the creator of Bitcoin. The court found that Dr. Wright, quote, lied to the court extensively and repeatedly in his

evidence and that he attempted to create a false narrative by forging documents on a grand scale and presenting them in evidence. Overall, quote, all his lies and forged documents were in support of his biggest lie, the claim to be Satoshi Nakamoto. In advancing his false claims to be Satoshi through multiple legal actions, Dr. Craig Wright committed a most serious abuse of the process of the courts of the UK, Norway, and the USA. And it goes on to basically outline that in many different ways how full of shit Craig Wright is. So that's great.

It feels nice. It feels nice to see that online on his own social media, on his website. So Craig, you're a fraud. Moving on We're going to be diving into Our tech updates But before we do We're going to be given away some sats

Right after we give a quick shout out To our sponsors So we will see you guys In just a moment We'll be back in one minute It allows you to borrow against your Bitcoin In a non-custodial way Collateral is held in a three of four

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The cold card queue is an absolute powerhouse and is my daily driver. 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, we are back in, everybody. We're going to be diving into the tech updates here, and we're going to be covering a whole bunch of different stuff. A lot.

There's been a lot of announcements in and around this because, obviously, everybody wants to announce all their fun, new, toys and all of their new updates and everything through the conference. So we're going to be covering that. But of course, get your lightning wallet's ready. We're about to give away some sats. This is Bitcoinwell.com and this is the Bitcoin Well wishing well. And if you're unfamiliar, they are in Canada and the US. Great place to buy and sell Bitcoin, pay your bills, all that kind of stuff. But as you sign up or buy and sell or refer friends, you earn points and you can use those points to throw them into the Bitcoin well, wishing well, and earn sats as well. There will be an LN URL on the screen, and as long as you have a lightning wallet capable of scanning it, you can redeem however many sats pop up on the screen. You can win between 500 sats and up to a million sats, depending on the coin that you throw in.

Oh, let's go ahead. Let's redeem. We're going to do 500 points. Get those phones ready. I'm going to make this a little bit bigger. Oh, I got to get... I got overzealous there. We're going to redeem, my bad. Okay, there we go. Now it should be nice and big. 2100 sats, everybody. Okay. Get scanning. I'm going to give it about five seconds here. And if you miss it, then you're going to have to scroll back through the video to redeem. But congratulations to whoever happens to grab them. And hopefully you were quick enough to snipe those sats.

We do this every Thursday and Friday on Why Are We Bullish. So congrats to whoever grabbed those sats. We're going to move on now, though, and we'll dive into some of the tech updates. Number one, proton, proton mail, privacy email provider, VPN provider. they have launched a Bitcoin wallet. Very interesting. So they aim to simplify Bitcoin transactions using email addresses within the Proton ecosystem. Proton, a Swiss company best known for its privacy-focused services like Mail, VPN, have been taken, have taken a significant step into the Bitcoin world by launching Proton wallet, a self-custodial, self-custodial Bitcoin

wallet. This new product aims to simplify Bitcoin transactions and enhance security. aligning with Proton's mission of preserving privacy and online freedom. Bitole proton wallet is designed to make Bitcoin transactions as straightforward as sending email. Users can send or receive Bitcoin using email addresses, which is a significant departure from Bitcoin addresses. Also, I don't like that the way that this is written. Significant departure from the complex and often error-prone Bitcoin addresses typically use, you can't really screw up a Bitcoin address because there's something called a check sum. So if there's a single digit that's out of place or if you accidentally delete a digit,

it will register as an incorrect Bitcoin address. So maybe if you paste in an entirely wrong but proper Bitcoin address, yeah, that could be a thing. But I wouldn't say they're error prone. Anyways, this feature is integrated with the proton ecosystem, allowing proton wallet users to send Bitcoin to any email. address whether or not it's associated with Proton Mail. He said Proton Wallet's ability to support Bitcoin via email now makes Bitcoin transactions as easy to use as PayPal

while preserving the decentralized and non-custodial nature of Bitcoin. Now, there's been some fanfare and also some criticism of this. I wanted to highlight a little tweet from, not a little, but from Seth for privacy. he did a TLDR, he said it's easy to use wallet that makes Bitcoin more accessible than ever. But it's a departure from the normal private by default matter of proton. Basically, he says that some positives, it has taproot, it's self-custodial, simple transaction notes, multi-accounts support, all the basics you need from Bitcoin is very normy-friendly and approachable. Now, on the other side of it, he said that they were looking at clearly from the documentation,

that they were originally looking at on-chain privacy techniques using Whirlpool, but since that no longer exists, something else is going to have to be done if they want to make it private because it is a privacy company. They do say that Proton or Seth says that Proton does have visibility into wallet balances just due to the nature of Bitcoin because you would be using their node by default. And so they can see wallet balances. transactions that you relay through them as any other node runner could if you're connected to their node. It says that they also have the visibility into the link between on-chain addresses and

emails as far as you could tell. And he just said, be cautious how you use the wallet as funds sent to you via email will necessarily be commingled with other funds you send due to a lack of coin control. Yeah. And again, he said, Proton clearly. wants to implement some form of privacy for Bitcoin, but without their whirlpool integration, something that is apparently dead on arrival right now. There just isn't much that can be done. So we'll see how it develops. I think in general, it's a positive. It'll be an outlet for people

to get in. And it is self-custodial. So that's good. And hopefully all the bells and whistles and things that Bitcoiners like will be added as options into it over time. Okay, moving on. Breeze Lightning SDK or Software Development Kit is now integrating support for Liquid Network. So we've seen, so Breeze, of course, they have a Lightning wallet themselves and they have the software development kit that makes it easy for anybody to integrate Lightning into an app that they have done. And so what they are doing now is they're doing, it seems to be something to the tune of what Aqua Wallet and the Bull Bitcoin wallet and more wallets coming down the line are doing, which is doing this interplay between Lightning Network and Liquid Network to simplify and not require people to have inbound liquidity and everything by doing swaps in the back end.

bolts. So, you know, let's take a look really quick. So they said, why liquid here? SDK is integrating liquid support to offer developers and users more optionality. Every different way of using Bitcoin comes with different tradeoffs, both positive and negative. Liquid does not require the use of payment channels. Users do not have to deal with set up fees or liquidity management or require a lightning service provider to manage the frictions and complexities of making use of their Bitcoin. This also removes the possibility of surprise channel closures and the fees this winds up creating for the end user. It also removes a lot of complexity on the developer side, leaving less moving parts for them to manage when integrating liquid support into

a product or wallet. No channel management, no routing management, just basic on-chain fund management and basic center receiver support. Given the SDK is tailored for developers, this is a new option for SDK users with minimal implementation complexity. Yeah, and it goes on to say that bolts would be the back end of being able to do swaps between lightning and liquid seamlessly. So you just kind of get a single spending balance and you're good to go. Of course, liquid has tradeoffs. There's trust tradeoffs in utilizing it.

But for spending balances, for me, I've already made the concession that I don't mind at all. But others may be curious and just want like full. self-custodial lightning with a lightning channel, whether or not they have to pay the on-chain fees to create that channel. So that is up to you. But I love optionality and I do use liquid. So there we go. Okay.

Before I switch to this next tab here, I've got to say with all the cash-you e-cash stuff that's floating around and all of these different nut metaphor, fours because it's cashew and a cashew is a nut. And again, I love the names of various wallets and tools like e-nuts and all this different stuff. But I think this one has got to be my favorite, my favorite name for a wallet that I've seen as a cashew wallet. May I present you with NutSack. Introducing NutSack, a Nip 60

60-61 Noster Client. It is kind of cool the way it works, though. I access that name. I love it. NutSack, you can't even say it without a loud. It's a highly experimental client for a wallet that lives in Noster

and can be accessed from any Nostr client that chooses to implement it. So the main key features are a unified balance across all of your apps. Pocket change that follows you around. New users are immediately zappable, verifiable nut zabs. Oh my God. Faster zaps and zaps that can't go missing.

So yeah, this is basically utilizing eCash on top of lightning, but the eCash system is baked into your private key for Nostr or your NSEC, which is really cool. So more or less what this means for you as a user, if you have a Noster profile and you're using one Noster app that utilizes NOSTERAC, if you switch NOSTER apps and you have another NOSAC enabled NOSTER client, your balance would be uniform across all of them. So yeah, obviously, be very cautious. This is beta, very experimental, brand new. You can lose sats if you're not careful.

But if you want to experiment with like a few hundred sats, then of course go ahead. Moving on. Unchained, this is a new announcement, obviously coming out of the conference here. Unchained says the money you trust should be secured by the people you trust, introducing unchained connections, a new feature for unchained vaults that allows you to secure your Bitcoin with your closest friends and family and let them secure Bitcoin with you.

Connections open up a new world of possibilities for Bitcoin custody, but most importantly, they make it easier for long-term Bitcoin savers to onboard their friends and family to Bitcoin. Benefit from Unchains industry-leading multi-sig custody, eliminate single points of failure, and ensure your loved ones, generational wealth is secure. So what this means is you could have different configurations for vaults. It opens up countless new possibilities for collaborative custody, like securing one key in a partnership with a loved one, or working with another key agent to create a fully managed custody solution.

By including your key in their wallet, you can help protect your loved ones from fishing attacks, social engineering and common security mistakes. You can even offer emotional support as they learn to whether Bitcoin's volatility. It's also great for inheritance, whether you're inheriting a loved one's Bitcoin or need to ensure your heirs are ready to recover yours. Unchained, trust, or personal vaults combined with connections, help ensure your Bitcoin gets to its intended recipient.

And yeah, that's awesome. I love this. We're seeing a lot of multi-sig, assisted multi-sig. iteration. And I think in part that's just because there's a lot of options out there. And we see them kind of trying to one up each other with new innovations. And that's exactly what you want to see. So this is great. And speaking of that, Nunchuk introduces automated wallet rollover with advanced coin control. What the hell does that mean? So if you're familiar, I've done a video on the advanced coin control feature in Nunchuk

that's basically allowing you to categorize your UTXOs with different tags and collections and all this different stuff. So the new thing is called automated wallet rollover. Migrating from an old wallet to a new one has been manual requiring careful transaction and coin control by users. So if you're privacy conscious in how you use your Bitcoin, then you may be sending individual UTXO's, XOs one at a time and trying to keep coins separate and do lots of different complicated things.

This is designed to help with that. So Nunchuk's wallet rollover feature automates this process, reducing errors and saving time. Its advanced coin control management offers exceptional granularity and privacy techniques, not seen in other Bitcoin wallets. The wallet rollover feature functions independently and can be used in various situations involving fund transfers between wallet. including key replacement processes. So if you have a multi-sig and you want to swap out one of those keys, what normally happens is you create a new vault with a new key, and then you have to sweep the funds all the way over to the other one,

which typically would either consolidate all your UTX O's into one and ruin any privacy that you may have attained, or you got to go through one by one and say, okay, I'll send this one now, send it off to the other wallet. Next one, boom. This is cool, though. Transfer between any wallet types, single sig to multi-sig, vice versa, or between different multi-sig configurations, preserve coin segregation strategy during transfers, enhance privacy

further through randomized broadcasts of the rollover transactions to initiate wallet rollover navigate to the wallet you want to migrate from view wallet config more rollover funds to another wallet now you can uphold your coin segregation strategy um you can broadcast these at random intervals um you can also take advantage of automatic randomized broadcasting feature um and on top of this uh one of the other main things that i saw here and i'm seeing if i can find it I can't find it. Either way, what an awesome thing to be able to just say, all right, I've got, you know, maybe I had a single sig and I'm upgrading to a multi-sig and I want to just roll that over it. You can keep that all. Oh, and that was the other thing I was going to point out. I didn't see it there. But if you have inheritance planning through Nunchuck, it preserves all of that. Okay. So as soon as as you say, I want to roll. over this is part of an inheritance plan and I'm swapping out my key. It keeps every detail of

your inheritance plan and then switches it over to this new multi-sig wallet that you've created. Pretty awesome. Pretty awesome. Okay, a few more things. This is, this is legendary. If you're unfamiliar with Bitax, these are tiny, low-cost home mining machines that are, I'd say primarily, like a hobbyist thing to try and play around with mining and also kind of like a forever lottery ticket sitting on your shelf. So it doesn't require a lot of funds or a lot of electricity, but you're probably not going to make any money doing it. And if you're solo mining, meaning you're not in a mining pool, you're probably never going to hit a block. But there's a chance. There's a chance. So you're telling me there's a chance. Well, that's that,

chance has happened. A solo Bitcoin miner with three terra hash a second has mined block 853742, overcoming odds of one in 1.2 million and earning 3.192 Bitcoin approximately $200,000 of a little device that cost around 150 or 200 bucks. The block was relayed by Solo CK Pool, a service dedicated the solo Bitcoin mining. Yeah. Super, super awesome. And side note, what have I been working on the last little bit? Well, I have this week, before this news came out, actually, look what I've got here?

I've got a little nerd miner, nerd miner two that is all hooked up and just purring away on the desk. and if you can see behind me over here, that is a nerd axe, just sitting on top of my Start 9 server pure there, and that thing is mining away as well. So I have been over the past few days, tinkering and recording.

I've still got to do the edit, but I expect that tutorial to drop tomorrow, and you guys can learn about how to use a Bitaxe or a nerd miner or a nerdax. Anyways, I think it's super cool. And I think it could also, if it became normalized, people had these cheap little devices just hanging out in their homes. If enough people were running those, then you could begin to see them overtake some larger mining pools.

Again, you could have a lot of people doing these. So, yeah, anyways, I think it's pretty cool. And just to kind of give you a better look what these things look like. So like this is a nerd axe, this is a bit axe. They're just, you know, they look like little calculator sized devices with a fan on them. And they actually do have an ASIC chip on them. The nerd miners do not have an ASIC chip. That's why they're cheap. But these ones a little bit more. So either way, really cool. This is Bitronic. I got, I picked up mine when I was in, when I was in Prague. And so these guys are pretty awesome. They're based in

Europe. And then I want to give a shout out here because there's a Geyser Fund for something called the BitForge Nano. It's an innovative open source Bitcoin miner designed for home use. Our goal is to democratize Bitcoin mining to provide an efficient, accessible solution for individual miners. So yeah, you can go take a peek over on Geyser Fund. Again, it's called the BitForge Nano. I just copied the link to the Geyser Fund, and I just dropped it into the chat there. So feel free to take a peek. If you want to support another Pleb, putting together a cool project to help democratize Bitcoin mining or help decentralize and, you know, take away a little bit of power of those large corporate miners. And with that, I'm going to start rounding out.

I am obviously not in Nashville this year, but my next event I'm going to be at is Baltic Honey Badger in Riga, Latvia. So if you're in Europe and you're going to be hitting some conferences later in the year, check out Baltic Honey Badger. The last time I was there was 2019. And it's such an awesome conference in such a cool place. Highly recommend very high signal there. And again, it's, as they say on their website, the most OG Bitcoin. conference in the world. They've been running for years and years, and they do an incredible, an incredible job. Also, if you do need tickets, you can use code BTC sessions and that will get

you a discount. I can't remember how much. Might be 10%, something like that. Anyways, make sure you get there. I'll see you there. And then finally, I'll give a shout out to Bitcoin mentor my company here. If you're sorting through the tutorials on the channel and you're having a little bit of trouble. You need some handholding. You can reach out to Bitcoin Mentor.com. And we have an absolute amazing team of Bitcoin educators that can help you through pretty much anything that you need to learn. So don't be that Bitcoin Luddite. Don't learn your few things and then just get stuck in your ways. Make sure you're constantly learning. You can obviously do that for free through the channel and check out the tutorials. But if you need that help, Bitcoin Mentor is here for you

no matter what your level. And there's an exciting, there's an exciting, there's an exciting, for Bitcoin Mentor, if you guys are, if you feel like you're already leveled up, but you know people that want to be, that want to be learning Bitcoin that needs some help. And maybe you want them to get some professional help in and around that. We just launched an affiliate, an affiliate link here. And so you can set up your own affiliate link. And the way this works is for every. For every session that somebody books, you get a percentage.

It works out, I believe at the time of recording this video, it works out to about $21 every time somebody books a session through your link. So you can come, you can sign up, you can give that link to friends and family, and really anybody else, you can share it anywhere. And if somebody signs up through that link and they end up booking sessions, every time they book a session from then on in, you get that kickback. So a lot of people, they come in and they don't just do one. Sometimes they'll do a package of five or ten because they've got a learning trajectory that they want to cover.

And so that could actually end up being a meaningful amount of money for you. And it gets paid out the best way. It gets paid out in Bitcoin. It gets paid out each month. As long as you've racked up a balance of over $200, then you'll get paid out in Bitcoin. So, yeah, you can find this at BitcoinMentor.io slash affiliate. dash registration. That's not in the show notes right now,

but I'm going to add it as soon as this wraps up. And I'm going to drop into the live chat there as well, and you can check it out. So anyways, if you're looking to educate people and earn money doing it, then feel free to set up your own link and send people our way. Anyways, with that,

I'm going to wrap up here. Thank you guys so much for joining me. Of course, I miss my long-lost brother, Nico, down in Nashville, but he will be back next week to join us again. And I'm going to be on the road. I'm doing some family traveling. And I see also somebody in the chat here that I need to highlight because I'm making a trip also. I'm going to be driving through BC. and when I do, I'm going to be stopping in Vancouver.

I'm going to be doing the Van City Bitcoin meetup there, put together by Fusler. So August 11th, if you're in Vancouver, as Fusler said, come hang out with myself and him and everybody at the meetup. It should be a good time. I'm very excited. Haven't been out there in a couple of years. And so, yeah, I look forward to seeing all the Bikorners in the Vancouver region. very excited so make sure you check that out i believe they got a site and they've got a meetup i did share out on x the meetup link that you might need to do a bit of scrolling but i'll try to retweet

it right after the show as well so anyways guys that is it for me have yourselves a wonderful day or evening wherever you may be see you guys tomorrow for why are we bullish and uh see you guys next time for your daily session.