BTC Sessions - NEW Report Reveals DISTURBING Bitcoin ATTACK by Central Banks

Episode Date: August 21, 2025

A brand-new report just uncovered a disturbing plan by "the central bank of central banks" to quietly attack Bitcoin. From shadow regulations to backdoor influence, this could be the biggest coordinated threat BTC has ever faced—and no one is talking about it.Looking to learn HOW to properly use Bitcoin? Start on our free LEARN page. Curated step-by-step tutorial videos walking through the most important Bitcoin skills.https://www.btcsessions.ca/learnBOOK 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/—------------------------------FOLLOW BTC Sessions on X: x.com/BTCsessions—------------------------------SHOW SPONSORS:BITCOIN WELL BUY BITCOINhttps://qrco.de/bfiDC6COINKITE/COLDCARD (5% discount):https://store.coinkite.com/promo/BTCSessions AQUA WALLEThttps://qrco.de/bfiD8gNUNCHUK HONEYBADGER INHERITANCEhttps://qrco.de/bfiDARHODLHODL NO KYC P2P EXCHANGEhttps://hodlhodl.com/join/BTCSESSIONDEBIFI LOANShttps://qrco.de/bfiDCpCRYPTOCLOAKShttps://qrco.de/bg5Dvo#btc #bitcoin #crypto

Imagine, if you will, a world where every dollar worth of Bitcoin carries a compliance score, where self-custody no longer means freedom, and unverified coins get locked out of the system. That's the future the Bank of International Settlements is pushing. Today, we're breaking down their new paper exactly what they want to do to you and how you can fight back. as a sovereign individual. Stay tuned. You don't want to miss this one. I'm Ben with the BTC sessions,

and this is your weekly session. All right, I want to welcome to the stage. Of course, as always, my co-host with the most, Mr. Nathan Fitzsimmons of the Bitcoin Mentor.

How are you doing, man? I'm doing great. Did you see that Jack Dorsey is at it again? I feel like he's been on a tear this year in terms of putting out thing after thing after thing. He's big on the freedom tech,

And I'm wondering if he's compensating for some past moves. I think so. I think he might be overcompensating just a little bit. Yeah, yeah. Well, we'll get into that. And maybe how some of those things can help in the grand scheme of the current story that we're going to talk about right now. And, you know, leave it to the BIS or the Bank of International settlements

to propose more draconian garbage. That's exactly exactly what they're doing here. This is an article from the rage.co. Great publication. By the way, I just have to give a tip of the hat to Lola who is heading up the rage here. But she does some excellent work. The stuff on the rage is great. And I recommend everybody bookmark this site

because it will keep your finger on the pulse of the people that most hate that you have freedom money. And that's an important thing. You should know your enemies well. But besides the fact, this article, Bank of International Settlements paper proposes self-KYC for non-custodial wallets. The economists argue that the exclusion of any coin that has ever passed through a no-KYC wallet would enable a culture of self-pleasing. Once again, let me reiterate that, the exclusion of any coin that has ever passed through a no KYC wallet. That's wild. Let's get into a little bit of this article and then we'll chat about it.

So economists at the Bank of the BIS often referred to as the central bank of central banks have published a paper for a new approach to anti-money laundering compliance for crypto assets. they suggest to leverage the provenance and history of any particular unit or balance of a crypto asset to implement a risk scoring scheme with on and off ramps that would exclude any asset that has ever passed through a no KYC wallet from being accepted by regulated entities. With this approach, the BIS aims to create a culture of duty of care among crypto market participants, leading users of non-custodial wallet. to not accept no KYC coins and opt for KYCing their own coins voluntarily. Quote, while customer verification can be performed at points of contact with the conventional monetary system like exchanges, once claims move to unhosted wallets, there's that famous

Elizabeth Warren phrase on the permissionless blockchain itself, the transactions are out of the reach of conventional forms of intervention. Of course, the BIS loves to intervene. By using public transaction histories, a diagnostic AML compliance score could be referenced in any further interventions by authorities when crypto assets, including stable coins,

are presented for conversion to fiat currency at the off-ramps. I'm seeing a theme here, and I'm seeing a way out here, but let's continue reading how the allow list work. AML compliance score that references the UTXOs for Bitcoins or wallets for stablecoins could use the information on the blockchain, including the full history of transaction and wallets they have passed through.

A higher value would denote relatively clean funds coming from, mostly from a loud list wallets. Well, a lower value, e.g. minimum zero, would denote funds that are tainted by being a associated with one or more wallets known to be on a deny list. The paper elaborates. The strongest form of AML compliance would require off-ramps to accept tokens for conversion, only if they have passed through addresses that have met KYC compliance checks, i.e. wallets that are on the allow list, the economists further elaborated.

I'm also seeing cracks here in that you could easily, if you've got the right connections, i.e. you're in the government and you control a green listed wallet that you could easily just bypass this entirely because you've passed through a whitelisted address. This stringent version of AML test implies that all users, including those operating unhosted wallets, would have to undergo KYC checks just as all clients of banks must do when open. an account today. Exchangees and other wallet providers could then be required to block any transactions from or to wallets that are not on the allow list.

Again, they go on to talk about self-policing and everything like that. But this is crazy. Like this level of control that they wish to exert is absolutely wild. And this is just what they're proposing now. imagine if they got to a level where they had rolled out this level of compliance, how much worse it could get from there. So my first question, before I dive into some of those things that I see here that are glaring, Nathan, what are your thoughts on what we've just read?

What are you seeing here? Logistics of actually implementing something like this would be an absolute nightmare. I don't know how they would get around doing it. So first and foremost, if they kept using the word wallet, do they mean wallet or do they mean address? Like, are you going to have to send them your pub key? Like, what exactly are they looking for here and what kind of registration and who's going to control that information? And man, we've seen the issues that happen with even things like, you know, ledger hacks, right? We have all that customer data.

What a honeypot of information that you have to give up, you basically have to docks yourself in terms of what you control that's going to go into a centralized database. Wouldn't that be worth getting a hold of our bad act or taking a look at? So one, how they're going to execute it just seems absolutely ridiculous to me. It's a terrible idea. Two, again, between liquid lightning, e-cash, arc, and fettiments. Again, it's like, what do we do here, guys? How do you even remotely begin to address those? And how many hops back are you looking on stuff?

And then the last thing that I want to throw out to was just the idea of there's kind of, I think there's a little bit of a silver lining. There's a nice silver lining in all this is it feels very much to me like, oh, we can't control this. We fully acknowledge there's nothing we can do to stop people from using Bitcoin. Maybe we can just use enough fear and pressure to kind of normalize that self-reporting. In the same way that nobody really, like people in the, you know, well, the normie world even remotely consider the fact that you're self-incriminating

when you do your tax, you file your taxes every year, is that before Bitcoin has that broader adoption where everyone is very familiar with the tools and the things available and the different layers and things as well, too, that we're going to try and normalize self-reporting self-incrimination beforehand so we can get in there culturally at least because it feels like a last gas grasping at straw to try and get their hands around something that they can't possibly control. Yeah, yeah.

I like what you had to say there. Well, one, the layer two stuff, right? Like all of this is based on looking on chain at the data, right? And I honestly believe that already, but moving forward, more and more people, their default interaction with Bitcoin is going to be through some type of layer two, whether that be lightning or liquid, or as you mentioned, these different eCash solutions or ARC is beginning to, we're seeing the first iterations of that. It's all going to have layers of obfuscation.

When you receive or send a lightning payment, there's no time. to a specific UTXO, even though there is an underlying UTXO, there is on-chain Bitcoin representing it, but you're stringing together transactions hopping through various nodes, all of which is onion-routed. And as a sender in particular, you have a fair amount of privacy. And the receiver has no way really of looking back at the originating node from which that lightning transaction came. So that is going to be a tall order, let alone the fact that they talk about blocking transactions,

but Bitcoin is a push payment network. You cannot block. And we've seen examples of this where they'll have some sort of like a government wallet or they'll have, and they'll say, oh, anything from this address or whatever is sanctioned. You're not allowed to,

you can't send it to such and such. And what happens, they get like little bits of dust thrown at their wallet, small amounts of Bitcoin that are sanctioned in like official, you know, even like, I think one of the ETFs, they were like, here's our on-chain wallets. What did people do? They sense like random bits of like coin join stuff, like things that are not going to look great in their wallet. And, you know, you can't, you can't stop that.

They can freeze those UTXOs, aka just like not use them, but they're still in the wallet address that is public. So between the layer two stuff and that I think those are some of the major issues. Furthermore, you know, like what I'm seeing here is they are banking on the fact that people are entering and exiting the currency, right? They refer constantly to on and off ramps. but if you exit fiat, you are not beholden to the whims of on and off ramps. You use your Bitcoin. Now, could they target businesses? Absolutely.

But if you can build a good local community and begin sourcing things locally from people that you know and you have relationships with, as we did in the days of old, you would know your cattle rancher. you would know your chicken farmer and get your eggs and you know where you're getting your milk. If we revisit those ideas and begin building strong communities, that is really, really difficult to try and stop people from accepting a lightning payment for eggs. And so, you know, like this, I'm seeing all these things that would make it draconian for people, but I'm seeing exceptions, like I said, where somebody in a position of power could have one of these white listed KYC friendly addresses and simply send their laundered Bitcoin to that address in a hop and then back out and then they're in the clear.

And like they do this all the time with the traditional banking system. All of the all of the AML compliance shit did not stop HSBC from voluntarily laundering millions, hundreds of millions for Mexican drug cartels, right? And they got a slap on the wrist. So like clearly they don't give a shit about it. They just want to keep the majority of the populace down and then make their profits where they can. So I think it's all BS. I think it can't possibly be enforced.

And it almost reflects, to me it feels like it reflects a lack of understanding of Bitcoin, or at least even where Bitcoin is at today. Yeah. And so I feel like they almost got handed these suggestions from some intern that did some, you know, GROC and chat GBT. research and this is what they came up with. The one thing, though, that I could see that, like, I don't know how it necessarily be implemented.

That makes me, like, a little bit apprehensive is I could almost see them having, like, a Bitcoin buyback program, almost like that gun buyback program. And that I would hate to see, right? Like, oh, your transactions are tainted with unregistered wallets, right? That unhosted thing is so ridiculous. I can do it with dice rolls. This is stupid in paper. That they could, I could very well, I would be apprehensive, like a 60102 or kind of some

sort of vulnerability there where they basically say, like, look, if you have, one time forgiveness if you have unhosted bitcoin just send it here we'll give it to you at par value or something like that where they try to use it as a way of getting bitcoin under their control yeah yeah and so you know we talk about the infeasibility of of rolling this out however however um things north of the ice wall here in canada continue to get draconian as hell as well and i just wanted to play uh this clip um this is people discussing on now media discussing something called bill c2 that the liberals are trying to introduce right now and the the extent to which this would surveil the populace with no due process is staggering but i mean Canada's not alone in trying to roll out this kind of stuff

europe loves this you know there's a big contract in the u.s for palantir so you know scoff at Canada all you want, but it's coming everywhere. And I think people need to be aware of stuff like this. So let's take a listen to this quick clip. We're going to hear to talk about Bill C2, the path to a police state. Maybe John, if you can just kind of like fill people in on why that looks like it might be a path to a police state here in Canada. So Bill C2 has provisions in it to criminalize the use of cash to allow Canada post-open mail. for customs officials to inspect goods destined for export anywhere in Canada, regardless

of where they're located and warrantless searches by police of premises and legal obligation for anybody who uses a computer is now designated an electronic services provider and has to give access to their software to government officials without a warrant. it's just it's over 100 pages long i i haven't even been able to read all of it yet but it's just frightening and it's a big step towards canada becoming a police state that is wild like you and i right now and everybody watching this stream you are now an electronic service provider please let us look at everything on your computer like that is warrantless as well like these are the types of provisions that are in this bill that is being proposed.

And while it's, in my opinion, unlikely that it would pass in its current form, it's just an indication of what they want to do. And they're banking on making some ridiculous overreach in the bill and then pairing it back a little bit so it seems not so bad. And then next time they'll reach even further and we'll end up with this exact outline after a few tries and them taking an inch every single time.

No, 100%. It's your government hates you. Like there's so much going on right now. There's so much wrong with Canada. And this is where you're putting your attention in stripping people, the last little bits of privacy that they may or may not have. Like, it's gotten, there's no mask anymore. It's completely fallen off.

If you think that this is okay, the part about this that I find most setting, I'm glad these guys are talking about it. And I'm glad that we're talking about it as well, too. is how many people will absolutely just go along with that thing the classic i have nothing to hide not only is it a waste of resources and attention stripping away rights from people it's that this has become unfortunately normalized and i hate to say it but i think things again are going to have to get worse before they get better and i'm not surprised that we're seeing legislation like this yeah 100 and i mean again this is this is not the only thing i want to peek back to to the u.s here

this is another article from the rage um but this is this is not the only thing i'm but this is not the only thing i'm This is just as of today, Treasury is seeking comments on digital identification verification for defy. And again, we're not fans of anything Ethereum or Salon or anything on here. But again, they basically are saying they want contracts that won't execute unless you're KYC. And the only way, side note, the only way that this would be possible is if the D in DFI was in fact a C, a centralized finance. Like if there's somebody to go after to say that this is how it's going to work, it is centralized. So if you can force that, it's not truly decentralized. Nonetheless, you know, this is the type of things that they're seeking to do.

And we also did see some interesting movement just last week. We had the scare with the Google Play Store that there are terms of search. seemed to be banning wallets that didn't have banking licenses, like registering with FinCEN and all of that. And actually, in some countries, they did start enforcing those and taking wallets down. Now, because of this article, it raised such a stink, and people got so mad and riled up online that Google actually responded and said, oh, actually, we didn't mean for this to apply to self-sovereign, self-custasy wallets. we've adjusted our terms of service and our rules to reflect that. And so that did end up changing.

But I have this feeling that they were trying to just see what the response would be and kind of slip it in there. I feel like while it may not have been Google specifically that really wanted this, I feel like there was some pressure to try and do something along those lines. for the time being, that is not the case. And I will say that not everybody in a position of power is super keen on the direction we're headed. And I will say that for an SEC commissioner,

Hester Pierce is pretty based. Her quote here, and she's arguing, she goes deeper into it, but she says, we should take concrete steps to protect people's ability, not only to communicate privately, but to transfer value privacy, privately. And I mean, again, for an SEC commissioner to be on the side of personal privacy,

it's pretty wild to see. And we need more people to step up and have that conversation. It's just I feel the Overton window is so far shifted towards give up all of your personal information always and if you don't what do you have to hide and this is normal why are you whining it's a dangerous place to be in so i i don't know how do you think we can dig ourselves out of this nathan well us yes most people not listening to this podcast no maybe not so much i feel like by the time most people this kind of thing comes on their radar it's going to be way too late and it's funny what i was thinking about that we're going through to is i almost feel like there's an admission in there

as well of how critical, because you probably make the argument they're going for criminals and things like that. That's what they're trying to attack. That's what they're trying to go after. But I wonder how much of this relates back to the, even like the attacks on cash, is they cannot risk losing the ability to tax.

That if you're in a world where they can't actually tax you, how quickly does that fall apart? How quickly do they start losing that tax revenue? How quickly do they lose control over the monetary system as a whole? And I think that's, I think that's, of the big elements like you know don't screw with the IRS that's one of the people you don't want to you know mess up against them it feels to me very much so a they're starting to get it they're

starting to see what's happening here they're aware that they're losing control and they're going to overreact and probably try to correct in a lot of places yeah yeah it's it's and again you're right it's it's not just the ability to easily tax but um it's it's paired with the ability of an individual to opt out of the currency entire entirely. And what's the biggest tax of all? The insidious secret tax, it's inflation. It's their ability to debase the monetary system and siphon value from the entire populace with the flick of a switch. And they employ it liberally. And so that ability is going away, especially if people have a way to opt out of the currency entirely in a self-suff. sovereign way. And we're going to chat about, you know, we, we, it's all doom and gloom this first section here. But as we get towards the final section of the show, we're going to be going through a number of tools that I really think people need to be on top of. You need to be aware of

and you need to start learning how these things work so that you can remain a sovereign individual so that you can continue using Bitcoin as your refuge. even in a world where, you know, Bitcoin wallets are banned from the app stores and, you know, people are trying to get you to register and upload ID and, you know, they're screwing with on and off ramps. Again, if you exit the system once and you don't return, you can just use your money as long as you've created relationships that allow you to do so. So we'll chat about that in a little bit. But in the meantime, on the other side of the jump, we're going to talk. Again, about the flailing nation states and their tactics of trying to help their fiat currencies remain viable, have any sort of purchasing power so they can retain control.

And we've seen the U.S. making moves. But as of now, we're seeing China make some big moves. And we're going to discuss exactly that on the other side of the jump. If you're enjoying the conversation, please do smash that like button. We're going to give a quick shout out to some sponsors. And we're also going to give away some sats on the other side of the break. So get your lightning wallet's ready. We'll be back in just a moment.

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You can create an account with simply an email address, and that could be a dummy email address specific to that account. And when you go up to one of their ATMs, you scan a QR code. It identifies this is a singular customer, and then you're allowed to buy with cash below the threshold that would trigger AML, KY, C.CN. and all those things. So it's super useful. I did a video on it. So if you want to check it out. But for this, for the SAT giveaway,

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So we're going to do just that right now. I'm going to toss a coin in the well. And whoever scans the QR code on the screen first with their lightning wallet will steal the same. We'll steal the sats from everyone else. So 518 sats there, whoever does snag it, let us know in the comments. We always love to hear it. But let's move on a little bit.

Let's chat about the flailing nation states trying to kick that can down the road one more time. And China is in the running. China considering yuan-backed stable coins, eyes rollout in Hong Kong and Shanghai for cross-border use. This is from Reuters. And we've seen movement on this in the U.S. And the interesting thing with the U.S. before we, I guess, dive a little bit deeper into what China might be thinking here is there's the Genius Act. And the Genius Act is basically regulation to help bolster stable coins and have basically regulated,

approved entities that can issue stable coins. And really the play here that I see. is the U.S., they currently see exactly what's happening. They see the BRICS countries, you know, saying, hey, geez, we want to use something other than the dollar. And the petra dollar has been what's allowed America to flourish with their exorbitant privilege of being able to create money out of nothing for as long as it has, right? When you've got a World Reserve currency, you export your inflation largely.

to other nations. You get to be the people that buy the resources first with the freshly printed dollars. Now, if that's going away, if the petro dollar is, you know, if we're starting to put nails in the coffin of the idea of the petro dollar and people are trading oil and something other than dollars, the demand in that segment of the market begins to dissipate. And they need to keep that demand up. And so when you have entities that are issuing dollar tokens, dollar-backed tokens that are accessible in any corner of the globe as long as somebody has a smartphone, that's compelling for a lot of people in places where the currencies where they live are not strong. You know, what happened in Venezuela?

People were using dollars. They weren't using bolivars. they knew it was toilet paper. And so they flocked to the best currency they had access to, which indeed is the U.S. dollar. You know, don't get too excited U.S. because it's kind of like being, you know, in first place of the Special Olympics. But nonetheless, the Special Olympics are way, are awesome. I'm just saying, like, don't celebrate too much, U.S. nonetheless, the dollar is kind of like the best of the worst when it comes to what fiat currencies are.

And so people in nations where they experience rampant inflation beyond that of what the U.S. experiences are going to flock to the best fiat currency they have access to. And now all of a sudden, the whole world will have ready access to stable coins and be able to transact. And not only that, but the U.S. would encourage it. And that can drum up some demand there. Furthermore, the stable coin issuers, what do they typically do? Well, they take in people's dollars and then they issue dollar-backed tokens, which can be transacted with quicker. It still comes with all the counterparty risk and all of the censorship ability that you would normally get,

especially with the rules they want to roll out. but you now have an entity that has a whole bunch of U.S. dollars in a bank account. What do they do with that? Well, they do the simplest thing is they buy U.S. treasuries with other people's money. It still has a stable dollar value, plus now they're earning interest. So they're getting a free yield off other people's dollars. Now, there's some interesting nuance there, but I think that in the instance of, of China, they're seeing, they kind of see what the U.S. is doing.

Like, oh, you guys are trying to kick down, kick the can down the road, drum up additional demand for your currency so that it remains the most dominant one on the planet. And they're like, we can play this game too. And I think, you know, the BRICS countries, they're not a fan of the U.S. dollar. They would prefer something else. And they're going to try their hand at, you know, yuan back stable coins. and I don't know how well that's going to work, but they see what's up. And in and around the realm of stable coins, Nathan, do you remember the guy that was head of digital assets at the White House?

What was his name again? Oh, Mr. Bo Hines, I believe it was. Why? Is there any updates regarding him? Well, you know that he left his position, right? He stepped down. You know, just happened to step down. I'm sure he has some more important things to do, like joining Tether.

Throughout the joint Tether, huge thanks to Paolo Ardeno and the team for the warm welcome, excited to help build an ecosystem of digital asset products that set the standard for compliance and innovation, empowering U.S. consumers and reshaping our financial system. The best is yet to come. I think this very much plays in. He was working in the White House, and now he's working for, Heather and the genius act has passed with all of these, you know, approvals and regulations for stable coin issuers. I think the writing is on the wall here exactly what is going on.

Now, this is interesting. The dynamic that's interesting here, let's see what Max had to say, first off, Max Kaiser, in regards to China. As predicted, the bricks will roll out their own coins, including gold. The U.S. naively thinks the world only wants dollars and U.S. dollar stable coins. And Trump is wasting valuable time and money, not stacking Bitcoin as aggressively as possible right now. Really bad mistake. Now, not all countries are avoiding this. Right now, when it comes to, and I believe I'll share the correct tab here, but Brazil, they just held their first Bitcoin Strategic Reserve hearing. So they're looking to make moves as well.

US seems kind of slow to get on top of things. Maybe they're just getting all their ducks in a row. I'm not quite sure. But I think the interesting thing is in and around tether. Because what does tether do with the gains that they get from buying these treasuries and earning the interest? Well, they dump it in Bitcoin. They buy Bitcoin with the proceeds.

That is their treasury strategy. And so what I don't know is will other regulated stable coins be doing the same thing? And does that speed up the eventual downfall of these fiat currencies? Now, maybe in this realm, it keeps the U.S. dollar afloat longer, but I think a lot of other fiat currencies are going to start dropping like flies pretty quick here. The U.S. dollar just might be the last one standing. And I think that China is trying to throw its hat in the ring as being the second last one standing. You know, and the only other thing that I would say is it's pretty clear with what's been happening with gold that even the countries that issue the fiat currencies are not having much confidence in their own currencies because their gold treasuries continue to grow. Their gold reserves continue to grow.

We've seen the movements with gold. And it actually tends to be a leading indicator when it comes to Bitcoin. And if history is any indication, Bitcoin may be about. out to follow suit yet again as it has previously this year and previously in prior years. So now my rambling here, Nathan, I mean, what are what are your thoughts in and around what we're looking at here in terms of stable coins? Man, there's so much going on there. First and foremost, I want to point out, I'm pretty sure there's a word for something

when it's like privately owned but then controlled by the government. So that kind of relationship with Teta there, I think is very interesting. You can look that one up. Could be fun. Additionally, I don't blame Bo, a young man. It's a good offer. I'm sure I would have taken the same or at least been tempted. I think there's kind of this interesting dynamic playing out

where you got kind of a carrot and a stick between what we saw with the Bank of International Settlement and then the Staplequins as well. Because in it, like, again, these all came after Bitcoin. So there's an acknowledgement that like in some ways that these things are better. People want these sort of things. And so they're trying to be like, hey,

you can have our USD stable coin. It's the same. It's so great. Come and check it out. And it's an acknowledgement that like Bitcoin was an improvement, even from a user standpoint there as well too. So you got the kind of like, we're going to get everybody to comply.

We can kind of scare them over there. And then hopefully we can offer them this. make it so easy for cross-border payments that you'll actually want to come in and get a benefit from it. But I can't help but think that you're going to have that increased education that comes along with this in the sense that I don't know, maybe I'm maybe I'm too optimistic. I'm just too optimistic. But once you're in this realm, how long does it take you to realize that you don't want something that's backed by something, whether it's gold or a different currency, that you want the thing that does the backing? And so I still look at this as an accelerant for Bitcoin adoption. I still

think it is largely a last gasp of trying to like what we're going to it's blockbuster throwing up some you know treats and candy at the exit to try and save their business model that was just completely destroyed by the new entrance so i think you know it might still take longer than i want it to but they're not necessarily long for the world particularly again with that cross-border payment because yeah you got to wonder how how is china going to respond to their citizens if they start holding usd right if the government's even like even just taking bitcoin outside of it for a second when you have easy cross-border movement of different stable coins when they lose that capital control even against competing fiat currencies man that could get ugly and things could move very quickly yeah well yeah exactly

like at the end of the day i i believe that other fiat currencies are going to begin to fail in an expedient manner and you're going to end up with a few final of the strongest fiat currencies and when one of those major ones sees the writing on the wall

and they are not going to be the victor what is their next path they know that their exorbitant privilege of being able to print money is gone but they see somebody else who still has it left what do they do? And in my opinion, that's the linchpin where it's like, all right, we're going to adopt Bitcoin.

And funny enough, I get this vibe that the U.S. is being friendly to Bitcoin right now. But when it comes down to it, it's going to end up being the final boss. It's going to be the U.S. dollar versus Bitcoin. and that's going to be a sight to behold. I will push back. I have a little more optimism lately. I have a little more optimism. Well, I do think that will be the case in many places around the world.

I feel like, let's look at like Nancy Pelosi's portfolio, right? These people are just very well. It does very well. These people are unbelievably greedy and the U.S. is being favorable for now. And so it was from a conversation I had this week on the podcast that came out that I think the U.S. politicians are going to position themselves to benefit so much from Bitcoin, especially before any sort of announcements or major moves, that they won't shoot themselves in the foot, that they will, that they actually, it may not, there's, there's hope, there's hope, guys.

It may not be as combative as we think it will be because they have their own incentives and they just might try to stack stats before everybody else. Yeah, yeah, I feel like it'll be a mixture of flailing, but positioning their portfolies in the background. You know, people will know what's about to happen and they'll still fight, but they'll be stacking sets. It'll be, I think it'll be, it very well could be like even the creation of the Federal Reserve, where they like openly in public were against it and behind the scenes, they're just stacking as much as they can. Yeah, 100%. 100%. Now, on the other side of the jump earlier in the show, we were talking about some of the cool freedom tech that has been built, and that Jack Dorsey has been

doing a lot of interesting things dropping a I mean he's just been dropping new product and service and and app and device at one after the other this year. It's been incredible and I loved him on Game of Thrones. Yeah. And the interesting thing is that he hasn't stopped. There's yet another announcement here of something that he dropped. So we're on the other side of the jump. We're going to discuss, you know, what Jack Dorsey has been up to as of late and get a little recap of all of the things that he's pumped out. Again, I do wonder if he feels a little bit bad about all of the, you know, censorship and spying when it comes to Twitter. And maybe he's hard correcting for that. But also, furthermore, to the first topic, how do you escape this Panopticon? What tools do you need

at your disposal. How do you get around this kind of stuff? We're going to discuss all of that on the other side of the jump. So if you're enjoying the conversation, please do hit that like button. And we're going to give a quick sponsor shout out. We'll be back in just a moment. Looking for a simple and secure way to manage your Bitcoin on mobile, Aqua wallet has you covered.

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or simply scan the QR code on the screen to get started right away. All right, we are back in. And, yeah, let's chat a little bit about our friend, Mr. Dorsey, what he's been up to, what he's been building. And then let's dive into some of the other tools that we think are pretty important for remaining self-sovereign. in the age of draconian censorship and shutdowns and KYC and AML and all that stuff. Very important, especially for the newcomers that are just visiting the channel for the

first time. You may be like, man, this is a lot. I don't know how to handle this. Don't worry, we got you covered. We've got educational step-by-step video tutorials on literally every step of the way so that you can become more self-sovereign starting today. So stay tuned. We've got resources for you.

But let's chat to Jack Dorsey. So we got Pete Rizzo tweeting out billionaire Jack Dorsey's block announces full suite of Bitcoin banking services for small businesses. Companies operating at a Bitcoin standard coming. So what exactly is going on? Block founded by Jack Dorsey. They're a financial technology company. And so they formerly are called Square. Company started integrating Bitcoin into its offering in.

in 2014 via cash app, so and so forth. They are adding something. So Miles Suter, awesome dude, product lead at Block. He shared insights into the company's vision for the future and Bitcoin's role. He said, we think Bitcoin achieves its ultimate destiny when it's being used as everyday money, importance there. Just like Satoshi intended, I think Bitcoin has a global financial infrastructure that everyone can access, lets companies like Block operate in a much,

more global manner. And I think that payments are essential. And by the way, I'm just going to reason that out a little bit, payments are essential to maintaining the core properties that make Bitcoin unique. And ultimately, it will make it win in the long run. So basically, they are looking at enabling merchants to accept card payments and manage operations like inventory, payroll and business loans. They want to basically integrate Bitcoin. into all of their point of sale hardware. So they were showing some of this off and began rolling it out at Bitcoin, Vegas in 2025 this year. And that was back in, when was that, April?

April, yeah, something in there. You were in Oslo. Yes, I was. I was at the Oslo Freedom Forum with the Human Rights Foundation. So, you know, they're integrating Bitcoin into everything. But, you know, it's funny. Things like things like the, the, Bitkey, the hardware device that Jack Dorsey rolled out.

Famously, when it launched, they weren't accepting Bitcoin payments to buy Bitcoin hardware, which is funny. It now, that's been rectified. I saw, I saw a tweet the other day. Somebody was bitching about that, rightfully so. And Jack Dorsey replied, we fix that. It works now. Relax.

But, you know, what are they, you know, what else have they been doing? As I said, Bitcoin payments on Square. They've got a whole suite of merchant tools that they're rolling out. This was back in May, but they were talking about they're going to reach all eligible square sellers by 2026, subject to applicable regulatory approval. So again, you're dealing with on and off ramps that are KYC'd. There may be some asterisks on your ability to do so. Now, outside of this, Jack Dorsey has also been rolling out a whole bunch of other stuff.

He did, while I don't have it pulled up here, he did roll out a cashew-based, this is like a very private way of transacting with Bitcoin, a cashew-based wallet for political dissidents at the Oslo Freedom Forum and shared that there. He also recently rolled out something called BitChat. This is a chat messenger that does not rely on internet. It creates a local, mesh network via Bluetooth with anybody within, I'm trying to remember the distance you need to be away from. I think 100 feet. I've heard 100 feet and 100 meters and 100 meters for Bluetooth felt way too long to me. So it's probably around 100 feet. Yeah. Yeah. So this would be particularly useful in instances like when there's a protest and they shut down the internet, which happened in Hong Kong in 2016. And people actually did use mesh networks to be able to communicate and coordinate

at these protests. I talked to the leader. Gary Knight did a couple weeks back. Yes, you did. You did. And great chat, by the way. Go back and watch. What was his name again?

Nathan Law. Yeah, we did a nice long, for me interview with Nathan Law, just about that Hong Kong protest. He was just a young student at the time. Yeah, 100%. And I've seen him speak at the HRF at the El Sol Freedom Forum before.

But very interesting how these things can kind of be coordinated. Now, I would just came back from not only learning Bitcoin, in Vancouver, but also the Baltic Honey Badger Conference in Riga, Latvia. And at both of these, they actually encourage people to open up BitChat and sync up with people around you. And it's really cool. Like, you don't need to do anything. You just download the app, you open it, and then it'll just say, this person's nearby, this person's nearby. And there's like a global group chat. And then you can individually message people. And you can just change your username as you see fit. But it's, it's, it's, it's,

Yeah, really interesting. And not only that, but I've seen iterations forks of this where Calais has integrated Bitcoin cashew payments. So again, super private Bitcoin payments via BitChat. And so I look forward to playing with that. Now, some of the other things that Dorsey has been working on, this is pretty recent, just like a week ago, block. They have a 10, they've rolled out their new.

mining rigs blocks proto rig and proto fleet, they aim to reduce upgrade costs and extend basically mining rig lifespans up to 10 years, a 10 year life cycle for Bitcoin mining rigs. And so they've gone about this in a way that they intend to try and undercut what Bitmain is doing to further decentralize mining so that people aren't relying on a singular chip producer and so that we aren't in a chokehold by a singular company. Really, really cool. Again, swappable hashboards, air-cooled construction, you know, obviously very efficient, up to 800-terahash if you know what's up when it comes to Bitcoin mining.

That's pretty impressive. Nonetheless, that's one of his other projects. And again, just to reiterate the point that we saw in the previous article, Jack Dorsey is going around saying like, hey, Bitcoin fails if it's simply a store of value. Kind of the antithesis of what somebody like Michael Saylor believes. And I, you know, not default Sailor, but I think Sailor is very much a hammer and everything that he sees is a nail. And so what is his tactic? It's treasury.

I'm going to get people to lend me billions of dollars so I can stack the scarcest money humanity has ever seen. and I'm not super worried about the medium of exchange portion of it. But Jack Dorsey is quite the opposite. We need to use this as money. And I tend to be in Dorsey's camp when it comes to that sentiment. I think we need to be able to transact in Bitcoin in a way that is self-sovereign, peer-to-peer, private. And I really think that this is important for people to latch on to. And so we were talking about what tools, what tools?

What tools can people use? How do you level up? How do you remain self-sovereign if the worst of the worst pans out? Like that BIS report we listed first. And they're like, we're going to K-Y-C everything. You can't get the proper apps. You can't do it. Okay.

So first off, right now you're looking to obtain Bitcoin. You know, what are your options if you're not slapping down an ID on the table? things like hoddle hoddle. Hottle basically links individuals to each other so that you can trade peer to peer. There's a Fiat payment that takes place through traditional rails, but it's in no way linked to the Bitcoin

that you receive in kind, and there's no honeypot of information that designates that that even happened. And so this is a great way of doing it. As I mentioned, Bitcoin well, they also have a non-Kyc option where you can utilize their ATM network and be able to use the platform to buy Bitcoin

directly into self-custody without having to slap down an ID. Now, there are other ways to obtain Bitcoin. I'm going to get to the one I think is most important in a moment here, but then you also need to be using open source Bitcoin software, wallets that you can use. I really like Sparrow wallet on desktop. It can look a little intimidating at first. Don't worry. I've got a banger tutorial on it that lays it out very, very simply, shows you

the basics, and then once you get through that, you can come back to it and learn some more skills. So Sparral Wallet's awesome for when it comes to desktop. I do like Nunchuk. I do like Aqua as well because it allows you to do lightning and liquid and faster, cheaper payments. So check out a number of those, and I'll give you a resource where you can find all this afterwards. What about if hardware becomes illegal? This is a tough one, right? Because everybody's like, oh, I want to secure my Bitcoin.

I need a hardware wallet. What if that's not allowed anymore? What if self-coststy isn't allowed? And so the answer to this is typically hardware that nobody knows you have. And so there's the Seed Siner project. There's also something called Crux, K-R-U-X, basically using run-of-the-mill computing parts to create a Bitcoin vault for yourself.

I am doing an updated tutorial on Seed Siner, but I do have a couple existing ones that you can find. But you can basically from like a Raspberry Pi put together a device that you can use to help secure your Bitcoin offline for long-term savings, which is super awesome. Outside of that, of course, you can always do things like running a Bitcoin node while I won't dive super deep into that. You can also do things like mining at home as a solo miner.

That's always really cool. But more importantly, things like what if the app store gets banned and you can't get your Bitcoin wallets? Well, things like the Zap store, zap store.dev. It's a Noster-based app store where you can download apps for. for Android phones without any KYC required, without any requirements, without any censorship, which is super awesome. If you can't rely on iPhones or Android phones anymore,

you can always de-google your phone and use something like Graphene OS, a totally different operating system that's more private. But at the end of the day, that BIS report, it focused so much on on and off ramps and people are gonna need to get in and out But what if you don't need to? What if you just have close relationships with the people around you that also value privacy

and peer-to-peer interaction and sound money? I think this is where we need to head. I think we need to build our own local communities, meaningful connections, meaningful relationships with like-minded individuals and create Bitcoin circular economies where we are. And we've done this in Calgary. It's still a work in progress. But I'm very happy with what has come to fruition with the sat market here in Calgary. And we just started with the Bitcoiners.

And we grew from there, just friends of friends joining in and stacking on top of what we built each time. And it's so moving to see the sense of community at every single one of these events. And this is being replicated in other place. I said I just came back from, I just came back from learning Bitcoin in Vancouver. And I heard about another really cool local circular economy that is happening now in Comox Valley. And you may not be familiar with this, but this is out on Vancouver Island. It's in a small town.

And they've already got like 30 something merchants that they've onboarded in a very tiny area. And it's incredibly impressive. the boots on the ground, grassroots kind of ethos that they put forth here. And they've done a really good job. And, you know, they're building the future that I would really love to see. So hats off to Comox Valley and anybody else that is, that is, you know, bootstrapping projects like this because I think this is how we win.

This is truly how we win. And so what resource can you use to find everything that you need when it comes to tools? I think the best place to start is we've got a Bitcoin zero to hero page. It's our learn page. And I'll bring up the QR code here for it. But you can go to easy. I mean, the easiest way to get there is either BTCSessions.ca slash learn or just go to using bitcoin. It'll redirect there.

but more or less, we've got a single video for every major skill that you might want, a wallet on your phone, hardware, obtaining Bitcoin, additional privacy, mining at home, running a node, diving into lightning, multi-sig, inheritance, all these different things. We've got one video on each one of those topics. And if the videos that we pre-selected there aren't to your taste, just scroll down because there's full playlists on all of these different topics and you can check out the playlist and find one that appeals to you. There's a whole bunch. And beyond that, if you need additional help, then just scroll to the bottom, you know, you'll see myself, Nathan and Gary, and you can reach out

to Bitcoin mentor for kind of that premium one-on-one education should you need it. But please, please, please start learning the tools. It is so important when we outlined, when we outline stories like what we saw first. When we outline stories like this, it indicates that you need the tools. You need to be aware of the tools that are at your fingertips right now. And you need to start learning and stacking those skills. So Nathan, I'm going to stop rambling here, but I would love to hear your thoughts. Man, there's so much to cover there. Well, first and foremost, regarding Sailor being a hammer, I get it, right? Because if I was a billionaire, maybe I'd want to

nail everything, too. But going back, the idea with Jack Dorsey and medium of exchange, I kind of completely agree. And let me see if I can kind of draw the analogy here. I think if Bitcoin isn't used as a medium exchange, ultimately, for one, its end goal, its main purpose, it has lost, right? It has ultimately lost out there. But I think in terms of educating people and bringing them on board, I'll give you a silly analogy, right? It's like if I'm trying to train you how to work on a car engine, I can lecture you in the room for as long as I want.

At some point in time, we're going to have to grab the tools and get under the hood for you to actually understand it. By only treating Bitcoin as a store of value and not a medium of exchange, I think there's a huge learning gap that's being missed there, but never getting your hands dirty by trying it out by moving around when playing with it. So to that call to action, essentially, to get out there and learn about these tools, I completely agree.

And I would just have to add to it. Like, guys, you don't have to know everything today. You should just know a little bit more tomorrow. If you just keep doing that and keep iterating, you'll have more optionality. You'll know kind of what you have available. You'll know where to go to get more information if you need it. And you'll be ready for whatever life throws at you. And again, going back to that, preparing for that kind of Bank of International Settlement situation.

Yeah, that really is like the final kind of preparation stage is knowing how you can completely remove yourself from the Fiat system. Where can you get food? What trade guys do you know? What friends do you have that you can call upon be like, hey, dude, I need help fixing this one. wall in my house. Can I pay you in Bitcoin, please? Yeah, 100%. And so again, if you're new here, if all of this seems a little daunting, honestly, just like check out the page and just start at video one. Yep. That's it. Like, that's all you need to do, you know, the longest journey starts with a single step, right? So that single step can be, how do I get a wallet on my phone

and actually take self-custy? So you can you can start down that pathway. And, and, you know, If you were to get through that whole page, you would be so far above and beyond your average bitcoiner, it would be impressive. So just keep building those skill sets and ask questions. It's okay to not know something. But either way, I'm bullish for the future. I think, you know, if it's any indication of the number of people that come through here and watch the show and then go on to learn from the tutorials, it indicates that people are hungry for knowledge. and want to learn. And that's amazing.

And it bodes well for not only the future for us, but for our many, many Bitcoin babies that people are popping out. Completely agree. We're going to win. Basically all my brain was going to is like, we're going to win. We have the tools. We have the tech.

We have the passion. As long as people again tuning into this are going out there and continuing to stack skills and show their friends. Talk to them about it. Then we win. Yeah. 100%. And with that, that's our call to action. Just keep learning. Keep stacking those skills

while you stack those stats. That's the super important thing. With that, I'm out. Nathan, thank you so much. Everybody else that watched, thank you so much for being here. Smash that like button if you enjoyed everything. And don't forget to keep learning. It is so important. We'll see you guys next time. Keep an eye out for everything else on the channel. See you guys soon. Cheers. Hey, you. Yes, you watching the Bitcoin price movements and the latest exciting news. It's awesome to stay informed, but the real power of Bitcoin comes from taking control. Don't just watch, take action.

Head over to btcsessions.ca slash learn for free step-by-step tutorials that guide you through every major skill you need to know. Plus, full video playlist for deeper dives on any topic you like. And if you're ready for the ultimate fast track, scroll to the bottom and check out Bitcoin Mentor.com for premium one-on-one experience with my team of Bitcoin experts to ensure you get it right the first time. Don't wait, secure your Bitcoin future today. Hit the link in the show notes or scan the QR code on the screen.