BTC Sessions - NEWS ROUNDUP: Bitcoin Made Legal Tender In Central African Republic ep253

Episode Date: April 28, 2022

The Central African Republic adopts Bitcoin as legal tender, Fort Worth Texas is mining, and Fidelity adds BTC option to its 401ks. This and more on today's show. Vancouver & Kelowna Workshops: h...ttps://www.btcsessions.ca/events 💪 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 Keystone Wallet: secure your Bitcoin! http://bit.ly/KeyStoneSessions 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

Transcript
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Starting point is 00:00:34 What's going on, everybody? Welcome to the show. We have plenty, plenty to talk about lots of been going on in the past 48 hours or so. We've got to talk about the Central African Republic. We've got to be talking about Panama. As of today, we've got to be talking about Fort Worth, Texas. There's just a lot of things to cover. As always, this is live. Anything can happen. So I defer to my friend Bill here. We'll do it live. Okay. We'll do it live. Do it live.
Starting point is 00:01:08 I'll write it and we'll do it live. The fucking thing sucks. If you have not already, please do hit like, subscribe, share, all the stuff really, really does help the show. And thank you to those of you that regularly do that. I am Ben with the BTC sessions. This is your daily session. Before we dive into the news, let's talk. take a look at where we are in the market right now.
Starting point is 00:01:49 This is the Bitbo.io dashboard. We're sitting at $39,776 per coin. A single US dollar will pick you up $2,514 sats. Been kind of pinballing all day, some spikes and dips. But in and around that 40K range, pretty consistently in the last little bit here. Of course, we are looking at, let's see, actually the fees have come down.
Starting point is 00:02:17 a little bit since I looked before. Four sats per byte next block. Other than that, if you're willing to wait a bit, two sats per byte should be all right. 90.6% of all Bitcoin have been mined. Not too much else to mention right now. Of course, shout out to sponsor the show, shakepay.com. If you're buying Bitcoin in Canada, one of the easiest and quickest ways to do it. E transfers in and out, no cost for those.
Starting point is 00:02:44 Same goes with withdrawing Bitcoin. They cover the minor fees. thin spread. If you use the link down below and sign up and purchase your first $100 with a Bitcoin, they'll give you $30 for free. You get the exact same deal when you refer friends and family, and you can shake your phone every single day for free Sats. They've also got a Satsback visa card that I use on the regular. Check them out. Lendin.io, you can use for a variety of different Bitcoin services, including, but not limited to. If you're in a pinch, you need to get your hands on some dollars, but you don't want to sell your Bitcoin. Well, you can deposit Bitcoin here,
Starting point is 00:03:16 get a Bitcoin back loan of dollars into your bank account within 24 hours. When you pay back those dollars, you get back the same amount of Bitcoin. They do have savings for Bitcoin in USC as well. They have their B2X offering and they're starting to get into Bitcoin backed mortgages. So keep your eyes peeled for that. Links are in the show notes. Bit refill. There's some news around bit refill.
Starting point is 00:03:39 We'll cover that in a little bit today. But in particular, bit refill helps me a ton with living on Bitcoin because you can pick up any gift card your heart desires in a ton of different countries, and you can purchase them with Bitcoin, both on-chain and via the Lightning Network. You earn stats back as you shop, and you can earn some additional stats back with their referral program as well. They are listed down below. Keystone, one of my favorite and most used hardware wallets,
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Starting point is 00:04:31 You guys know that fire damage, water damage, all that stuff, accidentally discarding the slip that you have written your seat phrase down on. I've heard some horror stories about that. So this is how I back up my hardware wallets and any sizable Bitcoin wall that I have with the bill Fottle over at PrivacyPros.io. Solid steel gives you that piece of mind. So check them out. Privacypros. I know. With that, let's dive into the news. And I was going to say the big one of the day, but there's been a few things floating around there. We have officially the second nation state in the world to adopt Bitcoin as legal tender. And it is the Central African Republic.
Starting point is 00:05:16 So I'll read a little bit here from Yahoo News. Central African Republic has adopted Bitcoin as legal tender. The president's office said Wednesday, becoming the second country in the world to do so behind El Salvador. Lawmakers unanimously adopted a bill that made Bitcoin legal tender alongside the CFA Frank and legalized the use of cryptocurrencies. and President Faustin Archangang, I'm not sure how to say it, Tudera, signed the measure into law. His chief of staff, Obed Namcio, said in a statement, the CAR is the first country in Africa to adopt Bitcoin as legal tender.
Starting point is 00:05:55 This move places the Central African Republic on the map of the world's boldest and most visionary countries. the landlock state is one of the planet's poorest and most troubled nations with an economy that is heavily dependent on mining. El Salvador became the first, obviously, nation to a dole last September. Yeah. So it's interesting. This isn't, we'll say it's not all positive. And I will thank Alex Gladstein for pointing this out.
Starting point is 00:06:30 he basically linked to this article from hiding news, but it was talking about some of the corruption in the state itself. And so one of the businessmen that helped the nation estate set up this is somebody who effectively is linked to or created a number of actual fraudulent Ponzi schemes. So that's not exactly a great starter here. It's also interesting that there's a lot of questions in and around this bill. It basically doesn't legally define what a cryptocurrency is. And it doesn't just explicitly state Bitcoin.
Starting point is 00:07:24 It actually says that cryptocurrency is legal. is legal tender and then there's some pretty stiff fines for not accepting cryptocurrency. So anyone who refuses cryptocurrencies, and that's a pretty blanket statement, risks 10 to 20 years in prison as well as a fine of between 100,000 and 1 billion CFA francs, which is between 155 and 1.55 million regular francs. Um, yeah, and then it says article 22 provides that all monetary obligations to nominate an illegal tender existing before the date of entry into force of this law may be paid for in cryptocurrencies. Uh, it could force, it force issuers to accept obscure cryptocurrencies in return for bonds that have so far had a value in CFA Franks.
Starting point is 00:08:20 Um, yeah. And then it also provides state guarantees through the central bank, the automatic and instantaneous convertibility of cryptocurrencies into legal tender for the Central African Republic. Again, they and they rightly point out, hey, this could be a significant risk for the local central bank. Because if they're required to more or less convert any cryptocurrency into local legal tender, that means that they're taking on the counterparty risk of actually holding, not the counterparty risk, but the risk of actually holding that asset,
Starting point is 00:09:00 which is not ideal. So there is positives to this, however. So Fode Diop, who I had the pleasure of meeting in Miami last year for the Oslo Freedom Forum, put on by the Human Rights Foundation. At first there was a lot of, of speculation as to whether or not this was fake news or not. And he said, I'm always skeptical about fake news coming out of Africa, but it seems like the Bitcoin news from the Central African
Starting point is 00:09:31 Republic is official. This opens up tremendous opportunities for the Frank CFA zone and sets precedent on how we can finally circumvent imperial currencies, onward and upward. So what he's talking about here is something that was outlined very well by Alex Gladstein in his Bitcoin Magazine article fighting monetary colonialism with open source code. And what he talks about in this article is that France has more or less had a different form of colonialism amongst the poorest nations of Africa ongoing to this day. And they've had it for decades. And what they do effectively is they dictate that,
Starting point is 00:10:19 They are the only ones, France itself, is the only entity that can create the local currencies in these nations in this CFA zone. And with that comes certain benefits for France itself and a lot of negatives for the locals. What they can effectively do is pilfer the local resources and human resources of the region. And the way that they do this is because they're the only ones that are capable of creating the local money there, they also get first dibs on any good or resource that is created in that particular country. And so what they can do is say the countries are obligated to first anything that they produce, offer it to France. If France wants it, they can effectively just print the money to buy it and deal. devalue the currency within that nation. It's basically extracting all value from the economies.
Starting point is 00:11:27 Whatever they can offer is effectively given away in inflation, which is horrendous. But with the introduction of Bitcoin, and I should say that there's these very restrictive laws on how you can convert into and out of other currencies outside of your. your local region. So if you want to get another currency, depending on where you're set in the CFA zone, it could be you're at a massive loss because the, the,
Starting point is 00:12:04 we'll say state sanctioned value of the currency is quite different than the real free market value of the currency. And you often can't, there are limits on how much you can convert or at what rate or if you can at all. And it can be quite detrimental to anybody trying to have any sort of economic movement of capital outside of their country in the CFA zone. And Bitcoin changes that quite a bit because on a Bitcoin standard,
Starting point is 00:12:37 if that currency is used quite a bit locally, then it effectively circumvents all of that. You can move capital freely into and out of the region. You can convert your local currency into Bitcoin if you don't like the way that the that the French government can just debase it and and purchase all of your goods and services. So I think that while some of the people behind this may have ill intentions or very selfish intentions at the very least, the introduction of Bitcoin into this region, can have a net benefit to all of its constituents down the line. So we'll see how it plays out. But it's good to kind of look at both sides of these things. Regardless, we do officially have the second nation state on earth adopting Bitcoin as legal tender.
Starting point is 00:13:36 You know, with all of its faults along, it still is another domino default. In line with that, the Panama legislature passed a. bill regulating quote unquote crypto just today. It now goes to the president to be signed. But let's read a little bit about what this is. This is from CoinDesk. So it says the Panamanian legislative assemblies plenary approved a bill on Thursday regulating the use of cryptocurrencies in the Central American country. This will help Panama become a hope of innovation and technology in Latin America. The only thing missing is for the president to sign it. Thank you to all that helped.
Starting point is 00:14:19 This will help create jobs and financial inclusion. As informed by the Assembly, the law regulates the trading and use of crypto assets, the issuance of digital value, tokenization of precious metals and other assets, payment systems and other provisions. It was passed last week out of the Panamanian Legislative Assembly's Economic Affairs Committee last week, before it had its final approval today. and following this process, it goes to the president. The president can still veto this or parts of the law,
Starting point is 00:14:54 but he effectively has 30 days from today to sign it or not. Okay? And then last week, the bill, it was said that the bill aims to give legal stability to crypto assets in Panama and develop the crypto industry in the country to attract more investments and generate more employment. also looks to use, I hate when they use this term. This whole thing is very shit-coigney, but it says, we're looking to have blockchain technology be adopted by the Panamanian government
Starting point is 00:15:30 to increase transparency and efficiency in procedures, whatever that may mean. Now, you know, you have Samson Mao here saying Panama moves to adopt Bitcoin, quote, and cryptocurrencies. The law just needs to be signed by the president. it would give Bitcoin legal status, not legal tender status. That's different. Legal tender would mean that everybody that runs a business would have to accept Bitcoin as currency.
Starting point is 00:15:58 It would have legal tender status and thus anybody who wants to use it would be allowed to use it at any vendor. That's not the case here. It would be an opt-in experience. However, it would also remove capital gains. Now, the capital gains thing I've seen around a lot. some people seem to have pushed back against that and said well that's not that may not be the case it could be a 4% capital gain um but it it's the capital gain thing seems to be pretty prevalent i tried to find that specific instance uh i could not but um if it were to remove capital gains on bitcoin that would be a huge boon um and i do like the idea of Just giving it a legal status, allowing people to opt in if they choose to and removing capital gains so that it effectively removes government intervention in any way, shape, or form in the currency that people choose.
Starting point is 00:17:02 And then the market kind of decides. I prefer that to a top down. You must do this or face the consequences, kind of like in the Central African Republic or even within El Salvador. I know that what's being built there is unique and special and I'm excited for it. But at the same time, the coercion of it in a way, I would prefer that it be kind of a bottom-up approach, I suppose. So yeah, we'll see how this progresses. But nonetheless, we seem to have a little more movement in the nation state adoption of Bitcoin for sure in terms of yeah we definitely have two countries two full nation
Starting point is 00:17:52 states that have adopted it or are adopting it as legal tender and then we have um these other kind of unique in between movements like Panama where it would be given legal status we also have places like Prospera which is a region of Honduras that is giving it legal status um making it effectively a de facto legal tender. You also have Madeira off the coast of Portugal that has made it legal tender and removed capital gains from it. There's a lot of movement here and there's rumblings around Cuba, Guatemala, a number of other ones that, you know, are kind of, every region kind of has to approach it differently. So we'll see how that that improves. And we also have kind of ground up swellings of support from things like Bitcoin
Starting point is 00:18:48 Jungle, which is another initiative, much like Bitcoin Beach in El Salvador. But this one would be in Costa Rica. And that seems to be gaining some traction in a region and kind of the southern. That would be the Pacific coast of Costa Rica. So I was down there. Unfortunately, I did not get to go to that region. I did kind of briefly chat via DM with a number of people about that, but I just didn't have the time to meet up.
Starting point is 00:19:17 So now to a more local level, Fort Worth, Texas has become the first American city to officially be mining Bitcoin, albeit at a small scale and kind of as a pilot program, a very small scale, we'll say, but let's read a little bit about what's going on. Fort Worth, Texas is now the first city government in the United States to mine Bitcoin. And in almost poetic devotion to the initiative, Mayor Maddie Parker oversaw the construction of a small mining farm in city hall within the city hall. So now, again, when I say it's small, of course, what I mean is they've got three Bitmain ant miner S9 rigs. They're going to be obviously running 24 hours a day. they're going to be in a climate-controlled information tech wing of Fort Worth City Hall.
Starting point is 00:20:10 The city says the miners will be hosted on a private network to minimize security risk. It goes into a little bit about what proof of work mining is. Beyond that, it says that beyond adding Bitcoin to the city's balance sheet, which is a positive, that's what you want to see with that, Parker, who took office last year and is the city's, this first ever millennial mayor believes that leaning into Bitcoin will go a long way toward putting Fort Worth on the map. For Fort Worth,
Starting point is 00:20:43 a lot of people don't know who we are. We want to change that conversation. And we believe that tech innovation, including cryptocurrency, is the way we're going with that. Now, I do like that she's talking, that she kind of specified and leans into the,
Starting point is 00:21:01 the proof of work aspect of Bitcoin. she does say cryptocurrency here, but she seems to be leaning, leaning towards Bitcoin at least. And most of the wording in and around this particular article is Bitcoin specific. So that's favorable. I'm actually a little surprised that this wasn't Miami first. To be honest, I'm kind of surprised.
Starting point is 00:21:32 You know, they've been pushing pretty hard since the Bitcoin conference. last year in and around that. There's been definitely been some missteps. Miami coin. But outside of that, you know, there's some shit coiny things going on. But I'm a little surprised that they didn't dive on to the mining train first. So we'll see. Now, the interesting thing about this as well is this is just kind of like a first step for Fort Worth.
Starting point is 00:22:04 And once they kind of get their initial data about what's going on and how this stuff works, then they may move to having more machines, different facilities, who knows where that could leave. But very interesting to see a municipality get in on the Bitcoin mining game and put Bitcoin on its balance sheet. So pretty positive there. Fidelity adds Bitcoin to their 401ks or are in the process of adding them to the 401. case. So this from Bloomberg. Let's read a little bit here. The firm is preparing to launch a product that will allow Bitcoin investments in workplace retirement accounts despite concerns from the Department of Labor. I mean, okay. Isn't it opt-in anyways? Chill your tits, Department of Labor. Anyways,
Starting point is 00:22:54 Fidelity investments wants to bring crypto to its workplace retirement plans. Ugh, the dreaded crypto word. Anyways, keep going. The firm announced Tuesday, it will have a product ready, in the coming months to allow 401K plans, participants to direct a portion of their savings in Bitcoin. Employers that decide to offer the option will choose what percentage of an employee's account can be directed into crypto up to a cap of 20%. Yeah. So the interesting thing is these guys have a massive amount of capital under their wing. And this would be one of the first large 401K plans out there to offer this. So this could be very interesting because this is one of those dominoes where it becomes easy and in the long run,
Starting point is 00:23:56 irresponsible to not have at least a tiny allocation, whether it be 1%, 2%. But at this point, the risk, the asymmetric risk and reward here is through the roof, right? Like with even if you cut out the first year and a bit of Bitcoin's performance in terms of price, you're still looking at an average of 75% year over year, right? Even if that were cut in half, that's massive for the next few years moving forward, to the point where a 1% allocation, if it went to zero, which is not going to happen, but if it went to zero, you're out 1%, okay, if it continues to perform half as well as it has over the past decade, then it's going to become a much larger slice of your portfolio.
Starting point is 00:24:51 So why would you not allocate a tiny insignificant portion of your portfolio to it? It's like, it's a no-brainer at this point, but I shouldn't say that because so many people just haven't done it, perhaps because it hasn't been available. So we may see some big shifts in the coming years because of stuff like this. So this will be rolled out in the coming months. It's not active right now, but yeah, keep an eye. A few things here. Magma, a new channel marketplace on lightning. This from Justifer over at amboss.
Starting point is 00:25:25 space. The blog here says, we're proud to announce that Ambos is launching Magma, a peer-to-peer channel marketplace for the Lightning Network. When new users join Lightning, the biggest questions that come up are, where should I open a new Lightning Channel and how can I start earning Bitcoin using the Lightning Network? With Magma, you'll be able to get paid to open new Lightning Channels where the market needs channels. No more guesswork.
Starting point is 00:25:51 So it should be relatively easy. All this requires is that you run your own Lightning Channel. If you have Bitcoin that you are willing to put onto the Lightning Network, you can create an offer and set up price. Anyone using Magma can now view your offer and create an order for a channel. Congratulations. You're now selling liquidity on the Lightning Network like a professional channelmonger. Try it out over at Amboss.com. Slash magma.
Starting point is 00:26:16 I'm excited for this. I would love to give this a little go. It says that in terms of how this will. work. There's going to be smart contracting and hoddle invoices. So basically, if you're going to pay for somebody to open a channel with you, there's a hoddle invoice where it can revert back to you if somebody's not able to fulfill that on-chain transaction to open a channel within, I think, three blocks is the threshold that they're setting right now or three confirmations. There's also going to be a reputation system. So like if you guarantee that you're going to
Starting point is 00:26:55 give a zero fee routing channel and you change those parameters and you start charging fees for that, then it will monitor that and give you a lower reputation rank or if you close a channel earlier, whatever it may be, which is awesome because then you know somebody has a good reputation that they're going to keep their promises. And again, easy to use and expensive. That's awesome. So I'll probably be playing with this in the future. In fact, I may as well jot it down after this episode, maybe I should make a video on it. So, uh, hats off to Amboss. Now, I said there was some bit refill news. Uh, right now it pertains to those of you in the US that, uh, maybe you would like to live on Bitcoin. So bit refill now lets you pay your bills and taxes with Bitcoin.
Starting point is 00:27:43 So if you're earning Bitcoin and you're living on a Bitcoin standard or you wanted that to be the case, well, now you can and then you can utilize bit refill to pay some of those bills that may have been more difficult before. So U.S. citizens can now pay their bills with Bitcoin, including taxes. Starting today, bit refill users in the U.S. can use the company's new bill payment service to pay their credit card bills, utilities, health care, mortgage payments, and 20,000 other types of bills with Bitcoin. Quote, just like streaming video services allowed people to cut the cord from their cable
Starting point is 00:28:19 provider, this lets people take a huge step towards cutting the cord with their banks. and love bankless. I love that. Yeah, the offering was first launched following the enactment of El Salvador's Bitcoin law in September that turned the peer-to-peer digital currency into legal tender in the country. Bitrefield said its bill payment service has been growing between 100 and 200% per month since.
Starting point is 00:28:46 Yeah, so that's super awesome. Now, right now, the surface is gradually being rolled out to the American market hit through a wait list at first. That's due to scaling constraints with their team and how they handle this. Users will be granted access to the offering in the company's mobile app for iOS and Android in a first come first serve basis as it lays the groundwork for inviting new customers at the fastest pace they can. Now, not without some drawbacks, of course, like if they're going to be paying bills for you
Starting point is 00:29:19 and everything, there's some implications with that, especially in the U.S. where Uncle Sam wants to have prying eyes on everything. The service will be launched in collaboration with a regulated financial services provider and will require users to verify their account by submitting an identity document and proof of U.S. residency. Okay? Yeah. So anyways, you'll be able to pay multiple bills with only one Bitcoin payment
Starting point is 00:29:49 and will allow adding multiple bills to the platform's cart before checking. out, that's pretty sweet. I like that. There will be a 2% convenience fee on the total bill paid to cover the cost of paying and processing each bill payment as those are not discounted by the provider or payee
Starting point is 00:30:07 the company says in the offerings webpage. I like the last quote here. They say there are only two certain things in life, death and taxes. Now you can pay both your tax and funeral costs with crypto. Wish I had said to Bitcoin, but I still like that quote.
Starting point is 00:30:25 Let's move on. I asked you guys what your top recommendations for new pieces of content this week were. One was from Arthur Hayes called the Doom Loop. I'm going to read just a quick excerpt from it because I haven't read through the whole thing yet, but the beginning is fire. The COVID pandemic,
Starting point is 00:30:43 and most importantly, the global policy response to it, pulled forward decades worth of societal trends in a very short period of time. Almost everyone across the globe was, sequestered in their homes for the better part of two years, driving a torrent of inflation that is here to stay. The inflation is entrenched because a large number of jobs are now being done from home,
Starting point is 00:31:03 and the wealthy computer desk jockeys working these jobs now require a different mix of goods. The global supply chain was not prepared for the wealthiest and largest consumers to ditch their one to two-hour daily commute in favor of strolling into their home office clad in the latest Lulu lemon jammies. If you're one of these keyboard warriors, your consumption basket in and around the office is completely different from the basket of goods you enjoy inside your place of abode. That is why inflation, at least from a goods perspective, will remain sticky. One more part I want to read here. On the energy spectrum, wealthy Western citizens decided to underinvest in fossil fuels,
Starting point is 00:31:43 which provide a high return relative to the energy invested in them, and invest heavily in renewable energy, which has a much lower return relative to the energy invested. As wealthy Westerners aim to fight the good fight against carbon emissions, the success of their wind and solar buildout, and the accelerated retirement of internal combustion engine vehicles accompanying it, is predicated on developing countries polluting their local environments in order to produce nickel, copper, cobalt, and other key industrial commodities. Unfortunately, pulling a vast amount of industrial metals out of the ground requires miners to burn fossil fuels.
Starting point is 00:32:25 The demand for hydrocarbons continues to rise as CAPEX falls. This Bass-Aquords energy policy does and will continue to produce high and rising fuel prices. So that'll give you a taste of what's in store for that article. Highly recommend, again, everything that I've read from it so far is pretty solid. Another recommendation from Allen Farrington, I finance, the current thing covering ESG, big finance, and a Category 5 shitstorm of economic reality. And finally, my pick for something you just absolutely have to list to. And I'm a little late on this because it came out last week.
Starting point is 00:33:08 But Guy Swan with Bitcoin Audible, the narration, the transcription, the reading of the transcription of the recording of the American Hoddle versus Dieter Bob, quote unquote, debate. It is audio. It is something. And if nothing else, you should listen to it just to hear. the impersonation of Guy Swan, the Guy Swan's impersonation of Dieter. If you haven't heard the original, maybe just listen to this
Starting point is 00:33:51 and then go back to the original and see how well he did. I also really enjoy the segue that he did into his sponsorship midway through the episode. All around, just chef's kiss. Hats off to Guy Swan for this one.
Starting point is 00:34:12 Another thing I was on just before doing our new show today. I was on with my first Bitcoin or me primary Bitcoin. And this is a local initiative down in El Salvador where they have created a 10-week course for high school students and it will be part of or necessary to graduate. And so right now they're doing the pilot program. are three cohorts that are going through this 10-week program to basically get some basic financial literacy followed by a what is Bitcoin and how do you use it and then some final exams to ensure that they have grasped and can execute on the materials learned.
Starting point is 00:34:57 Now, I love this idea. This is just, you know, somebody had an idea and wanted to go do it and they just went and did it. So hats off to John for spearheading this and all of the. people that he's gathered around him to help make it possible. They are crowdfunding for this. So if this is something that you would love to see, I did retweet it. So just check my feed from today and you can donate some stats if you would like to do so.
Starting point is 00:35:24 And I hope to make it down there soon. In that same vein, I am hosting events in Canada right now. 10% of the profits will be put aside so that I can go down to El Salvador and offer free workshops. Okay. So that's kind of my goal here. And just to see if it's economically viable for me to travel and do workshops because I love doing it.
Starting point is 00:35:50 But obviously costs involved with that, travel, whether that be by plane or driving or whatever it may be, all the typical things associated with accommodations, all that kind of stuff, materials, everything. But regardless, I am doing two workshops that have been set in stone. One is going to be in Colonna in the Okina. And I should say two workshops per location, but two locations. So Colonna, there's going to be a morning and an afternoon session. And then also in Vancouver, there's going to be a morning and afternoon session.
Starting point is 00:36:29 Both the morning sessions will be on self-custody for beginners. So if you know people in the area that are brand new to Bick, They need to wrap their head around, you know, having money on an exchange versus having it in their own wallet, backing up that wallet, recovering that wallet if it gets deleted, understanding sending and receiving Bitcoin transactions, understanding Bitcoin transaction fees, getting hands-on experience and demos of different types of Bitcoin hardware wallet so that they can then start moving down that path and deciding how they want to secure their Bitcoin. that's the kind of stuff that will be covered in the self-custody one. And then in the afternoons in both cities in Cologne and Vancouver, there's going to be a cold card deep dive, which will include verifying the device, setting it up,
Starting point is 00:37:20 getting your seed phrase and your pins ready, backing it up via encrypted SD card or via seed XOR, using pass phrases and decoy wallets, importing it to sparrow wallet, understanding how to send and receive the air gaps transactions or partially signed Bitcoin transactions. We're going to try and cover the gamut there. So I've got both of these going on.
Starting point is 00:37:44 Again, 10% of profits are going towards hosting free workshops for locals in El Salvador. So if you're interested, you can hit up my events page. Just go to BTCsessions.ca. You should see it from the main page, but or BTCSessions.ca slash events. And you can grab tickets there if you see fit. please do share with any other locals that may benefit from either the beginner or the intermediate advanced cold card stuff as well. And finally, tomorrow, don't forget to swing by. We have another Why Are We Bullish. We got Alex McShane. We've got Mitch Morse, aka Woody username,
Starting point is 00:38:27 and we've got Eurodale. All of them will be joining me on the show for Why Are We Bullish? all new guests. And I also, I really enjoyed being able to sit alongside Alex McShane at the Bitcoin 2020 conference on the ESPN style Volcano Desk and commentate on a bunch of things. So Alex, thank you for having me there. And I'm very excited to have you on the show as well. And with that, that's it, everybody. Thank you for joining me.
Starting point is 00:38:57 As always, like, subscribe, share, all those things. Super, super important. They really do help. If you want to help the show in another way, of course, you can grab tickets for the upcoming events in Kelowna and Vancouver. You can hit up the previously mentioned sponsors, shake pay, lead, and bit refill, keystone, bill, follow all down below. Or you can just drop me a Bitcoin tip if you see fit,
Starting point is 00:39:19 if you really enjoyed via Twitter, or at my strike page, strike.comme slash BTC sessions. You get there, you type in any amount you like. Hit the tip button. You will be greeted with 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, wherever you may be.
Starting point is 00:39:41 I'll see you guys next time for your daily session.

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