BTC Sessions - NEWS ROUNDUP: Bitcoin Advocate Poilievre Could Become Next Prime Minister of Canada ep288

Episode Date: September 15, 2022

Pierre Poilievre has been elected leader of the Conservative party of Canada, opening the door for a Bitcoiner Prime Minister next election. Coinbase funding lawsuit against the Treasury. Microstrategy keeps stacking. Fidelity, Schwab and Citadel launching a Bitcoin exchange. ETH merge environmental circus. This and more on today's show! 💪 SUPPORT THE SHOW: Shakepay is the easiest way to buy Bitcoin in Canada Sign up now and get $30 free after your first $100 purchase! https://shakepay.me/r/BTCSESSIONS ALSO search/subscribe to Shakepay on YouTube! LEDN Bitcoin backed loans –  get $10 free with a savings balance of $75 or more for 15 consecutive days! https://start.ledn.io/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 BillFodl: get your wallet backups in solid steel. https://privacypros.io/btcsessions Bitrefill: use Bitcoin to purchase gift cards https://www.bitrefill.com/buy/?code=O04UMic9 Like what you see? BITCOIN TIPS: https://strike.me/btcsessions

What's going on, everybody? Welcome to the show. We're going to be chatting news. No shortage of excitement in and around Bitcoin. Is there ever? We're going to be chatting tons of stuff. We got Nico here from Simply Bitcoin to fill us in on all the most important shit of the week. And there's one topic I know that you guys know I'm excited about,

but I'm going to wait until it gets to that point in the news. But I'm very, very excited about something in particular, Maybe a little too excited, but nonetheless, I'm going to take it. I'm going to take this semi-win. As always, this is live. Anything can happen. So I defer to my friend Bill here. We'll do it live.

We'll do it live. Do it live. I'll write it and we'll do it live. The thing sucks. If you have not already, like, subscribe, share all those things, super important. They help get this content in front of more eyeballs. I am Ben with the BTC sessions.

This is your daily session. All right, before we get into the news, let's take a look at where we're on the market right now. $19,795 per coin. A single US dollar will pick you up 5,052 sats. 91.2% of all Bitcoin have been mined in terms of few. 16 stats per byte for the next block, but if you're willing to wait a little bit, anything north of one sat per byte should probably be fine.

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This is how I'm backing up my important Bitcoin wallets. So privacypros. io slash BTC sessions, get a little deal as you pick those up. Shoutouts, shoutouts. The booster grabs. I'm a choke on myself. Okay. Let's do a few of these comments and then we'll dive into the news here.

Cryosats. Chats. Oh, my God. cryosats, booster shot. He's been dropping the booster shots like Matt. Thanks, man. I appreciate it.

Allow cool joy. Allow cool joy. Great episode. Thanks, man. Second breakfast. Great talk. I can definitely relate to Chris's feeling of isolation.

Seems like everyone is more concerned with their favorite sports team is doing rather than learning new skills and maintaining good health. Hashtag and the dad bod. Indeed, man. I'm working on that too. BTC sessions for leader of the council of Benz from Joey.

Thanks, Joey. I appreciate your vote. But all bends are equal. I see what you're doing there. Don't break us apart. Yeah, man, hitting it from all angles from this is the future. The Queen is dead. Long live Bitcoin.

It will save us from these idiots that are in control at the moment. Keep stacking kids. By the way, did you guys see the thing where there's no inheritance tax with the royal family because they don't want to erode their wealth? What does that say about how the rest of society gets fucked, but those of the top do not. Just saying. Cliffbanger says,

Hey, Ben, how about including an HRF in the show split? Actually, I'm going to do some manual donations. I owe one right now. I'm going to be dropping 100,000 stats to the HRF. And I just use them as an example in my Razpie Blitz tutorial to show how to do a transaction. So you'll be seeing more, but hats off to the HRF and Gladstein.

Separate money and state from Michael. One rational man, free of yourself, keep inspiring and helping past time at my debt, slavery, I mean job. The jobs, inflation, the jobs, I want my money back. That's why we're bullish from Bitcoin, grandma. Bullish as fuck on people like Obie being involved in Bitcoin. Epic rep, booster shot from cryosats, fast boots from Turla. Thanks again all. I will be investigating micro miners.

Ooh, from the last. We got a bowl there from Michael again. Second breakfast, the point of a society is creating as much energy as possible. Couldn't agree more. Bitcoin mining will give places like Africa the ability to obtain first world standards. And last one from Joey. I strive to one day be a man worthy enough to have my daughter look at me the way Nico looks at Ben. That's great.

I love it. Well, Nico, what do you think about that? I'm blushing, bro. That's what I think about that. No, I'm going to say it. Ben's a hero, man. That's what you look at. He's one of the legendary independent Bitcoin YouTuber.

Dude, I am so lucky to have you on the show every single week because you bring the fire with the news. It's fantastic. And we got to decorate here for simply sessions, obviously. So, dude, thank you for being here. What's up? What's going on? Lots of stuff.

Oh, you need your screen too. There it is. Crazy, crazy, crazy week. It's always a crazy week in Bitcoin. Things continuously, I always have this fear on Sunday. I'm like, what if there's no news this week? That has not happened to me once. So this is Brian Armstrong, the CEO of the famous shit coin casino.

know, Coinbase, and guess what he was doing? He issued a lawsuit against the U.S. Treasury for the sanction of Tornado Cash Smart Contract. So essentially what happened, Ben, was we've been covering this over the past two weeks, right? For the first time in its history, the U.S. Treasury sanctioned open-source software, not a person, not a government, but a technology. And we were making the case that I believe that is because they're setting a precedent because, hey, you know, Bitcoin disintermediates them. Bitcoin takes tremendous amount of power from the U.S. government because the U.S. government weaponizes the U.S. dollar and they do that to go after regimes that the U.S. government does not agree with. So what happened? All that being said, I had to preface it. in the process of the tornado cash sanction process, what ended up happening is there's a lot of

public figures that had their Ethereum addresses out there. So what they did, a lot of trolls, is that they sent tarnished tornado cash Ethereum to those addresses. And those people are like, holy crap, could I not move this now because of the sanctions in place? And that's where this lawsuit by Brian Armstrong comes in by Coinbase. Now, the Treasury man did something really interesting, right? And I'm going to get to why I'm not a big fan of this, but they kind of reverse track, Ben. And what they did was for transactions involving tornado cash that were initiated prior to its designation on August 8, 2022,

but not completed by the date of designation, U.S. persons or persons conducting transactions within U.S. jurisdiction may request a specific license from OFC to engage in transactions involving the subject virtual current. currency, U.S. persons should be prepared to provide at minimum all relevant information regarding these transactions with Tornado Cash, including the wallet address for the remitter and beneficiary transaction hashes the date and time of the transactions, as well as the amount of virtual currency. And the reason I said I'm not a big fan of this, Ben, is because it's not attacking what they actually did. They're not changing what they're doing. They're saying, you know what, we're going to give you what you want. Hopefully you dismiss this, but it's not calling into question why is the U.S. government sanctioning open source software and that is the real question

we should be asking and I'm going to connect this with the things that we have been covering the last couple of weeks man look at that U.S. Treasury OFC sanctions 22 Russian two entities including associated Bitcoin and Ethereum addresses what did we cover last week Russia made a major announcement that they were going to use Bitcoin to facilitate international trade. And of course, also on the same week, U.S. Treasury, OFC sanctions Iranian ransom gang members and seven associated Bitcoin addresses. So, I'm going to kind of put my Nico Jones hat on here for a little bit. Could it be that they are setting a precedent? They are preparing themselves. And remember what Cynthia Lummas said with the talk with Parker

Lewis at Bitblock Boom. It is the Treasury, to quote her own words, that has been the most tossed out towards Bitcoin. And those are just words, but the actions are also saying that as well. Thank God that Bitcoin isn't an account system, hey? Like Ethereum, like Ethereum, it's like, oh, this is, it's not, it's not inputs and outputs. It's just accounts. And so you taint, you quote unquote taint the entire account and you can specifically

say, oh, there it is. But in Bitcoin, it's, it's a series of inputs and outputs that can be in, interpreted many different ways and that you can fuck up the heuristics by using tools that help you do that. And there's no way to really say what's what, right? I mean, you can see like an equal output coin join, but there's it's it's like smelting down, you know, a bunch of gold bars and then, and then and then casting new ones. You don't get to say who owns who's gold at that point. or have you poured two cups of water into a jug and then you poured two new cups of water,

who owns whose water at that point? It's really, there's no direct correlation between who actually owns what. So thank God for that. I'll give credit where credits do. I mean, at least, you know, suing the treasury. Fantastic. I'm all for that.

It would be nice to see, Ryan Armstrong come to the defense of Bitcoin in regards to energy and all that. So that's a thing. But nonetheless, you know, I don't agree. You shouldn't be able to sanction open source software. And I hate the regulatory bullshit around this. But at the end of the day, if you're able to regulate it, if you're able to sanction it, it will be sanctioned and it will be regulated.

So that's why it's so important that Bitcoin functions the way it does, not only functions the way it does, but continues to get better at what it does. And I just see Ethereum going the opposite direction. We'll get into that in a little bit, but I'll let you move on here. Yeah, I completely agree, man. I'm really glad that Bitcoin functions the way it does.

And it's, I'm not going to lie, It's slightly entertaining to watch them trying to mold the existing system on top of Bitcoin. And then you're kind of slowly seeing the train wreck because they're not going to be able to. That doesn't mean they're not going to try. Anyways, moving on to another episode in the saga of the separation of money and state. We all remember this, right? We covered this on Simply Sessions last week. Micro Strategy Chair Michael Sailor accused of evading 25 million in taxes.

by DC Attorney General. Michael Saylor fired back. Micro Strategy files to sell up to 500 million of stock to fund Bitcoin purchases. MicroStrategy is software developed as become a corporate Bitcoin Volt, plans to sell up to 500 millions of stock to fund more purchases of the cryptocurrency. The timing stands out because it's the first tangible sign that Michael Saylor, who recently stepped down as CEO to become executive chairman and focus on buying Bitcoin, really is not backing off his audacious plans

to turn micro strategy into a Bitcoin proxy. I totally change. It's not a crypto proxy. It's a Bitcoin proxy. So this is funny. What the fuck you're trying to pull here? This is funny, man. Sue me, I will buy more Bitcoin.

I love because there was a ton of commentary around like, oh, he's going to jump ship or he's going to start selling and everything. and he's just like, fuck you, $500 million buy. It's hilarious. I thoroughly enjoy that. And again,

the smile, the smile, I don't see his smile shrinking any time. That's great. Well, kudos sailor. He's going to Pacific Bitcoin.

I just saw. They announced he's going to be down in L.A. for, one. That's going to be, I'm excited for that. That'll be a fun one. They, they got him, they got him during the, the, the, the Twitter spaces and he agreed, I love, it's crazy that's all happening on the internet. But Ben, one thing that I noticed, and it wasn't me that said this is, I forget who said it, but Michael Saylor is going through the Dgen faces that we all went through. He just has significantly more purchasing power. Rec the first year, wrecked the second year.

this is his 2018 and he's like oh crap double down sell to your chairs buy more Bitcoin it'd be hilarious if he sold microstratology just becomes a recluse buys like attractive land

creates a citadel and blows the middle finger to everybody amazing awesome well let's let's keep rolling there congrats Michael on the future stack absolutely Absolutely. When is he going to grow out the beard? We shall see.

So this is what I'm most excited about today, Ben. The Conservative Party of Canada elects pro-Bitcoin leader, Pierre, how do you say the last name? Pollyev. Thank you. As party head, I've mispronounced that all week long. The Conservative Party of Canada elected pro-Bitcoin Ontario member of parliament, Pierre, Pali, as the party's new leader on Saturday and wasn't even close. Pierre not only dominated in vote count, but also the preferred candidate in almost every single riding across Canada. And here's a quote by him, government is ruining the Canadian dollar, so Canadians should have the freedom to use other money such as Bitcoin. And of course, the opposition leader, who's currently Prime Minister of Canada, responded.

Telling people they can opt out of inflation by investing in cryptocurrencies is not responsible leadership, fighting against life-saving... is not responsible leadership. Opposing the pandemic supports to save jobs and helped families is not responsible leadership. So that's right, Ben. I'm YouTube trained. Wait, wait, wait. Let's look at the line above.

We'll call out questionable, reckless economic ideas. Bitch, did you see the size of the Canadian, the Bank of Canada's balance sheet to fund your deficits? Holy Christ, we quintupled it. We quintupled the balance sheet of the Bank of Canada to finance Trudeau's C-E-R-B or Serb or curb, whatever they want to call it, payments. He was paying out two grand a month to whoever wanted it. They found out that a bunch of people hacked in and managed to take other people's like pandemic payouts and to the tune of like tens of millions of dollars.

that were just like stolen from the government that will never be given back. Like economic like oh my God, this guy is the king of reckless economic ideas. And he just announced he has an inflation. What the hell did he call it? An inflation relief package to the tune of billions that he's going to just send out and pepper people with money to fix inflation. It's unbelievable. Dude, I mean, but look, I'm seeing this, it's a little bit evil because it's saying, hey, how dare you opt out of this money that solely benefits the ultra wealthy that benefit from asset inflation and the government?

How dare you dirty surf? You must continue to use the money that steals your time, your energy, your life force. this is very sinister. I think if you were to look up a definition of gaslighting, this tweet would pop up. Yeah. Was it somebody, there was somebody saying, like, everybody that is, is like on, on, like, a supporter of Trudeau is jumping on the, the anti-Bitcoin, like, if you would have followed Pierre, when he mentioned Bitcoin, you'd be wrecked. you'd have your life savings wiped out. And they all use like the one year chart.

And the funny thing is, is had you opted out when Justin Trudeau was elected, you would have 700 X to your life savings. 700 X. He was elected in 2015. It's pretty unbelievable. So I'm excited about Pierre because. it's been a rough year in Canada. I don't know if you're familiar.

It's been a hell of a time. And this guy has been, in my opinion, insane. And stupid me, I voted him in in 2015. I've very much changed my world outlook over these past seven years. But nonetheless, we have somebody that's like the height, the height of thus far Canadian totalitarianism as well as

and sorry I see in the chat 70X not 700X I misspoke but you know the height of Canadian totalitarianism the height of like MMT insanity and now we see on the horizon first of all

Pierre Polly of getting into the leadership role of the official opposition. It was like, you read it, but it wasn't like he eked in or like he had a decent time. He was like damn near 70%. So it was like an absolute landslide. The next closest place wasn't even close. It was like 16%. Yeah, 16% for Shiree, who was like up next.

So he's the clear choice for people that voted. there. I think that it's still going to be tough against Trudeau whenever that comes to blows. Because there's a lot of people that have been

stuck watching CBC and CNN for the past couple of years. And they, they, I think people are starting to realize that printing money and like giving tiny little checks to people everywhere is actually really contributing to the cost of things. But I don't think it's fully cemented.

And I think a lot of people don't realize that those things have made them so reliant on the state that the very idea of removing that to them feels like it would be the end of the world. But actually, over time, it would very much help the country and make the, and it's not that you can't have things that help people out. But, you know, obviously there, there can be, people can opt to create programs that help people out. The government's still going to exist. There's still going to be taxes there. I don't think they're going to be abolishing taxes in Canada anytime soon. But at the same time, like there needs to be some sort of reason. I mean, there needs to be

a swing back towards sanity in this country. And that's what I'm hoping. And those that, that are unsure about Paul Yev and his stance on Bitcoin. Early on, there were a few like crypto mentions, but like he's got some fantastic bitcoins in his ear, Jeff Booth, Greg Foss to name a couple. He knows what's up. He understands. I think it's smart that he's kind of shutting the fuck up about Bitcoin right now because it gives people too much fodder because we all know.

Normans do not understand anything about Bitcoin, let alone just regular economics. So if he can kind of keep on like a basic message of like everything's broken and we need to fix it, I think he'll do well. So I'm crossing my fingers. I think right now, if I had to guess, I would say it's a coin toss. I would say it's a 50-50 shot that the next prime minister of Canada will be a Bitcoin. pointer. I don't mind those odds. Yeah, man. Oh, man. It's after everything that has happened, at least, you know, there could potentially be a good ending to this. And I, I, dude, he is one of the most based politicians

that is running for office in an extremely well-developed country, right? You know, you have, I love Naim Buckele, I love El Salvador, but the reality is, you know, Al-Savador, but the reality is, you know, El Salvador is this very small country, right? Canada is a very big country, very powerful GDP-wise as well. So if a bitcoiner got elected saying those things, like it's the money printing that's the issue, I think it would send shockwaves around the world. So very excited for that. Absolutely, man. Let's keep it rolling. Sorry for my rant through the middle of your news, but I'm a little excited, as you can tell. I was looking forward to it. I knew that it was coming. Okay, so check this out, Ben, very, very big news.

Fidelity, Fidelity, Charles Schwab, and Citadel Securities to launch Bitcoin and Shikcoin Exchange. And it goes on to the exchange. The exchange will also be aided by ventures, by VCs, including Citadel Securities, Paradigms, Sequoia, Capital, and Virtue Financial. If you know a little bit about VCs, you know these guys are absolutely massive. Now, the reason that it's big news, in my opinion, Ben, is taking. a look at how much money Fidelity has under management. 4.5 trillion not the B the T, 4.5 trillion US dollars. Charles Schwab, 8.14 trillion and we covered this a couple weeks ago, Black Rock as well.

You combine all of that. It's a little bit less than $30 trillion. Remember in 2017, I know you know what I'm talking about, Ben. We all said, the institutions are coming. institutions are coming the institutions are here they're here it's happening and holy crap if you just do 1% 2% of that 30 trillion that is a lot of money flowing into bitcoin now it's not all you know rainbows and unicorns and all happiness right at the end of the day what worries me about this because at the end what is the revolution the revolution is people taking self-custody and the risk

this is re-hypothication, which could be used for price manipulation. And of course, nothing changes if the old system continues just because Bitcoin was added. This is a revolution of people, individuals taking personal responsibility and claiming back their financial sovereignty through self-custody. And what worries me about this is that all these firms control a tremendous amount of money that belong to the older generation, I'm assuming. And where is that where is that where is this bitcoin really going it's going to be held under custody by fidelity by trawl schwab but not by individuals and that's the other side of the argument so from an investment standpoint from a revolutionary standpoint not so much i sense a tutorial

coming how to dump your your paper bitcoin and how to buy real bitcoin i think that's coming up absolutely any other take on this man i i mean again like i think with stories like these you see the story and everybody goes

yeah but bitcoin's down bitcoin's not at all time highs anymore well i mean a lot of these stories tend to be slow burns right they're they're launching said exchange they're they're basically in the in the in the process of allowing people to access this.

And look at the market right now. The market, yes, we're down. We're in a bear market. And so when they make this utility available to their customers right now, there's not going to be a ton of people that maybe want to dive in. There'll be some. There'll be more than previously. but what happens when the reach that these guys has all the sudden in the midst of a bull market

all of the people using fidelity charles schwab, Citadel securities, all of these, they now have easy access to get exposure to this incredible asset, the soundest money that humanity has ever seen. And I agree with you on the take regarding, regarding, yeah, the custody issue. It's a problem. But they'll get exposure to it. That breeds curiosity. That breeds learning. Not everybody will start diving further down the rabbit hole, but some will.

Some will. And so I think the mission of Bitcoiners in the coming years will maybe for some shift on educating people who own paper Bitcoin about why they need to own real Bitcoin. That'll definitely become a priority of mine as it becomes clear a lot of people are partaking in this kind of stuff. So yeah, it's a positive and a negative, but it's a negative that I think has checks and balances. And when shit hits the fan at the end of the day, there's still a limited number of Bitcoin.

And when those margin calls come and calling, somebody's going to have to pull me up and give me my fucking Bitcoin. Exactly. And there's no printer of last resort. Indeed. Anyways, moving on to the big news, the merge. But it is a Bitcoin show. So we're going to give you the Bitcoin take. Yeah.

So, you know, for anyone that doesn't know, Ethereum migrated from proof of work to proof of stake. Now, you know, other than all the centralization issues and the fact that the biggest stakers are going to be exchanges, meaning it's going to be very easy for governments to compromise that. just knock on the door of the exchange, right? That's what they did to the, you know, the legacy system, right? That's why there's giant compliance departments in the back of banks that you never see.

But anyways, I'm going to take it from a different angle. Get ready for the FUD because this is coming. This is the narrative. The narrative is Ethereum uses 99.99% of less energy than Bitcoin. Therefore, we must shut down Bitcoin because Ethereum does the same thing, but it's more energy and efficient, completely ignoring the tradeoffs. Okay. And this is one of the first things that Vitalik did when they did the merge, right?

The merge will reduce worldwide electricity consumption by 0.2%. Right. And look, when the World Economic Forum, on the front page of the World Economic Forum, that means that Klaus was applauding this, says Ethereum merge, what it means for the cryptocurrency industry, and you click on it. And the first thing that it says on the top, Ethereum is about to switch blockchain verification system

from proof of work to the more energy-efficient proof-of-stake, Ethereum merge could cut the network's energy usage by as much as 99.5%. It could be a sea change towards sustainability for the cryptocurrency industry. Also moving on, this is a report by the White House. We covered it. Climate and energy implications of cryptocurrency.

assets in the United States. Now, and I said this, why was this report released on the same month of the of the merge? That's a big coincidence. And a lot of the research that this report used came from Dig Economist. And Digicomist tweeted this out today, says Ethereum has just ended. It's environmentally harmful proof of work mining. So clearly the reporting that the White House used was biased in the first place. The network's election, uh, electric power demand is likely reduced by 99.98%, which comes down to possibly as much as a country like Oshya requires, CO2 savings may equal global CO2 reductions by EVs when Bitcoin. So get ready for the FUD machine. It's coming. And I think the big question here, Ben, is that what people should be really asking themselves is half the planet fundamentally believes that using less energy is a good thing.

when that is completely disconnected from reality, you can verify this yourself. Human prosperity and energy usage are completely correlated, right? So as long as people continue to drink the Greta Thumburg Kool-Aid, thinking, hey, let's use less energy, terrible things are going to happen. If you don't believe me, Europe is going into the dark ages this winter because of following the renewable energy policy. So yeah, man, I'm sorry I get a little heated up, Ben. but the ominous clouds are over our heads and the storm hasn't hit,

but man, is it coming and it's going to come hard. Dude, the best part about this, though, is that there's all these people like dig economists that are bitching and whining that Bitcoin should change to prove a stake. And they're going to quickly discover, one, that we don't want or plan to, and two, that they can't force it to happen. like it's just it's going to be tick tock next block maybe some jurisdictions will come up with some shitty regulations well we already saw all that happen we saw china oh bitcoin mining banned well the largest migration of asic miners in history uh they all just found new homes

actually not even because a bunch of them are still there under the radar so really like I mean, I just picked up my ASIC, my first one, very excited. It's on the way. Shout out upstream data. Got myself a black box. But like, it's just, nobody's asking the question, why was energy necessary in the first place? And it's all in the name. Like, these guys, they're not interested in work.

They're interested in stake. I want to own something and I want to do nothing and I want that to make me money. And that's not how Bitcoin works. You need work. If you want more Bitcoin, you have to do the fucking work. You have to create value. And creating value is creating value for the network or creating value in which somebody is willing to exchange their precious sats for you for your good and or service.

So this is what it's all about. And I don't know if you saw there was a post also from Vidalic or a video of him where he's saying that, well, proof of work is constrained by the laws of physics. But with proof of stake, we've migrated to a system where the laws of physics don't exist. And we get to make the rules bend to be more flexible to whatever we want to do. So basically what he's saying is they've migrated to a system where the monetary policy is entirely made up and the laws of physics don't matter. There's no constraint on what they can do. And so the only constraint is who has the stake.

There's a girl on Twitter tip. She does a lot of awesome, a lot of awesome like TikToks and stuff like that and like raps about Bitcoin. Anyway, she tweeted out, proof of stake circular logic explained. Largest coin holders determine the state of ledger, which determines the largest coin holders. And then she has basically a circuit. I'm going to have to show it because it's too funny. Circular logic of Ethereum and proof of stake. So if you're a largest coin holder, you get to help determine the state of the ledger.

And the ledger is what determines the largest coin holders. So effectively, by having the most coins, you get to decide who has the most coins in perpetuity moving forward, more or less. is the gist of it. So yeah, man, it's, there's going to be tons of fud. It's tough. I appreciate the people on the, on the political side,

trying to fight that battle. I think it's important to do both, mostly as a time buying mechanism. But at the end of the day, the most important thing is making Bitcoin resilient and immune to this kind of bullshit. Yeah, 100%. I think that that really serves the purpose.

The political side, serves the purpose of making the transition easier. I think we win at the end, but it's more so about, you know, not getting hit in the face with a baseball bat. And that's a metaphor, YouTube. Okay. Anyways, here's the last piece of news. And again, I put this here on purpose.

Honey Badger don't give A.F. Honey Badger don't care. White House Report. China ban. Hash rate all time high. So great. It's beautiful to see. I'm very again and it'll keep and this is this is what people they they they'll look at

I saw somebody the other day saying the the average cost of a Bitcoin is is this right now like this the market value of Bitcoin the average cost of electricity in wherever the hell they were is this so people are mining and I was like it was basically showing that that it was a loss I was like People aren't mining at a loss. They're not mining energy that comes from a grid where it's expensive. They're seeking out the most energy efficient ways to utilize to mine. They're looking for waste energy. They're not buying the shit that you're buying off the grid.

They're not doing the same thing as you. The reason that they can afford to do this in a bear market continuously is, one, the difficulty adjustment. But two, being efficient as fuck. nobody nobody gets it nobody gets it honey badger doesn't care honey badger keeps going and now i i forget who i read this from it didn't come from me um i think it was lynn alden 94% of proof of work mining is coming from bitcoin now i think that was always going to end this way i don't know

yeah yeah it's amazing i'm so excited to uh to to start my first burr to get that Bitcoin minor burring. It's going to be exciting. It'll be exciting times. So, dude, I appreciate this. This was fantastic. You always do such a good job bringing in all the news and all the great topics. So I appreciate you.

Thanks for being here, man. Always an honor. See you next week. This is your Simply session. Thanks, man. I'll see you soon. All right, everybody. A few last things to address.

Also, go follow Simply Bitcoin. Subscribe on YouTube. Go follow Nico on Twitter. Tons of great shit coming out there. This is just a taste of the news. It's the best of the week, but they've got their daily every single, well, six days a week.

Just tons of news coming out of you in depth. So check them out. I want to show you guys a couple things. So I didn't drop my tutorial at the beginning of the week. This one is going to be dropping on the weekend. I got some editing to do. There's lots of stuff going on. But nonetheless, this is Ride the Lightning.

And this is my Raspy Blitz, which is purring away on my desk or on my shelf behind me. So I've been sorting through RASPI Blitz and the web user interface, all that kind of stuff. And so, yeah, I got my node up and running, been playing around with lightning. linked it up to Zeus, all kinds of stuff. So keep an eye out for that. That'll be dropping over the weekend. I mentioned earlier, there's that beautiful block clock micro.

It just came off the assembly line. Those will be shipping soon. I'm excited. I got one of those just to test it out. Maybe I'll do a little video on that as well. A couple other things. Next month, turns out I'm going to be in Charlotte, North Carolina, for Haudlewine.

Very excited. So if you're in town, let me know, October 21st and 22nd. Also, I'm not going to get a page up for this ASAP, but I'm going to do a workshop. I'm going to do a workshop on a cold card. I'm going to do a deep dive. It will be a four-hour deep dive on the cold card,

probably on the Friday. I think that's where it's going to go down. So as soon as tickets are available for that, I will put it up. But be sure to leave me a comment. Let me know if you're going to be in Charlotte. Maybe we can link up or I'll just see you at the event. And anyways, there's a day of, there's lots of stuff. The Beef Initiative is going to be there.

I was talking about those guys last time. There's going to be a Beef Initiative dinner and pumpkin carving. There's speakers and workshops going on all day on the 22nd. And there's a costume party that evening. So I think this would be fun. It's like just kind of a fun social event. You get to get your hands dirty with workshops and everything like that. I'll have my satellite event going on as well.

Just tons of fun stuff. So, and it's my first time in Charlotte. So you're going to be down. Let me know. But anyways, if you're curious about that, hodleween dot party, you can check that out. And finally, tomorrow, why are we bullish? We've got Eric Podwachki from Bitcoin Magazine. We've got Rob Warren from upstream data.

And we've got Kreis. And he just puts out fire content all the time. Love that guy. They're all going to be on the show. So be sure to check in for that. It's going to be a lot of fun. And that's it, guys. I'm going to sign off here.

Thank you so much for watching and or listening if you're streaming the pod, streaming stats. Thank you for that. As always, like, subscribe, share here on YouTube. Very important. Really helps the show. Thanks for those that have been doing it. If you really liked what you saw, you can help out the show in a couple other ways.

You could hit the previously mentioned sponsors down below. Coin kite, shake pay, leaden, bit refill, billfottle. They're all down here. And you could always drop me a Bitcoin tip at my strike page. strike.me slash BTC sessions. Type in any amount you want when you get there. Hit the tip button. You'll see a lightning invoice

or if you tap the arrow to the right, a regular Bitcoin QR code. With that, I am out. Have yourselves a wonderful day or evening and I'll see you guys next time for your daily session. Toddled to Bitcoin.