BTC Sessions - NEWS ROUNDUP: Micheal Saylor Steps Down As CEO Of Microstrategy ep277

Episode Date: August 4, 2022

Saylor no longer CEO of Microstrategy, results of the CSW v McCormack trial, redefining inflation/recession and much 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 is going on, everybody? Welcome to the show. Hope you've been having a good week. We're here to chat some news. It's been a good week. Lots of stuff going on. Some stuff with Michael Saylor. Some confusion about definitions of words, as per is the usual in clown world.

Talking about a few different things. We've got lots of the news to cover. Also trying something a little bit new this week. Bit of a surprise. And just a moment. We'll get to it. Of course, though, 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. I'll write it and we'll do it live. The fucking thing sucks. If you have not already, like, subscribe, share, all those things are super helpful to help get this content in front of more eyeballs.

I am Ben with the BTC sessions. This is your daily session. Before we dive into the news, of course, let's take a look at where we look at where we are in the market right now. This is the Bitbo. Dot I.O dashboard. We're sitting at $22,509 per coin. A single U.S. dollar will grab you 4,443 sats. 91.01% of all Bitcoin have been mined. And in terms of fees, next block, 19 sats per byte.

But if you're willing to wait a little bit between one and two stats per byte, should do you. Shouldn't be an issue. You know, use that RBF. Of course, shout out to sponsors of the show. new sponsors of the show coin kite love these guys they're the fucking best um i got to i got to do this uh i made a little i was super excited about getting coin kite on the show um because i just feel like they align perfectly with kind of my ethos uh so i made a stupid video for twitter and i hope you saw

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And they have their quarterly proof of reserves audit. This is key. So you know you're not getting jerked around. They have a third-party auditing service that goes through and make sure that they have the assets. They say they do. You can even use an encrypted hash of what you own to ensure that your, you'll your coins were included in that third party audit.

So feel free to check them out. Links are down below. Start. Letten.com. com. These guys help me a ton in living on Bitcoin. I can pick up any gift card my little hard desires with Bitcoin, on chain via Lightning Network as well.

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And finally, if you're backing up any important Bitcoin wallet, get in in steel friends, paper doesn't cut it. This gives me lots of peace of mind against fire damage, water damage, discarding little pieces of paper. I'd rather have it in solid steel. So Bill Fottle has you covered at privacypros.i.o. And with that, let's get into the show.

I'm going to start the show, I think, moving forward with shoutouts, because I really appreciate you guys that are coming on, that are boosting the show, that are leaving comments. I love it. So just a few quick shoutouts to on the helipad boost tracker on my umbral node. This tracks anybody streaming stats to the show that does a boost. So shout out to HKK for the clap.

A thousand for the clap. That sounds wonderful. Maybe I'll think about rewriting that next time. Shout out to second breakfast. Can't wait for those tutorials. Also fuck banks. In time, BTC. Keep doing the good work.

friend at the dude best bitcoin show around thanks man 21 stats poetic a couple stats from jaff 2100 nice uh zika boy still loving ben's canadian ways thanks man love your content ben from hoddle and noddle and keep up the good work from knsv 22 uh and also fistful of stats never fails to get me bullish mate you are my Monday morning go-to thanks for the great show thanks man I appreciate it I got a bull from Michael Matilof and and a hi from eleobai so anyways guys thank you for the boost super stoked to have you guys listening now got a bit of a surprise this week I wanted to do something a little bit differently and so I figured that um you know I like riffing off people. I love the Friday show. That's one of my favorite things. And so I was kind of like,

I stuck with this, this Thursday show. And I wanted the interaction here. So I got a buddy here. I'm going to bring them up. Hey, man. How you doing? Happy to be here, Ben. Good to see you. I reached out to you and asked you if you might know anything about Bitcoin news. You seem to be well-versed in that area. Just a tad. I was so giddy. I couldn't contain myself when I then reached out. I was like, absolutely.

He's like, take a little bit to think about it. I was like, no, no. I want to do it right now. So I like the interaction and you're so good at like encapsulating things. And, you know, you do, how often do you do the news now? Six days a week, man. Honey Badger, don't stop. Six days a week.

And so I've always kind of viewed this show as like the cliff's notes of what has happened in the past week and just a few important things. And so, but I always stress about trying to find the right stories and like what are the top things that people want to know about. And I figured who better to come in and and help me kind of single in on kind of the cliff's notes of what the hell has gone on this week than you. And so I want to maybe let's let's reset the vibe. in here. Let's make it do a little bit of that and maybe we'll do a little bit of yeah, that looks nice. That looks nice. I think that's great. So buddy, let's let's get into this. I'm going to let you take it away. What would you say is you've got a few stories queued up that you wanted to touch on? Yeah, what have you got queued up for us? What's the first thing on the docket here?

Yeah, we got three huge stories this week. We have the infant. Chris Wright versus Peter McCormack. So we're going to cover that a little bit. We have Michael Saylor, Chad Saylor stepping down as CEO of Micro Strategy and the response from corporate financial media. And last but not least, the redefining of recession. That's right. We're not living in 1984. It just feels like it. I love it. What do you want to get started with? What's standing out to you? let's uh let's hit the craig wright stuff i'm just going to read a few passages ben i'll pass it on to you and we'll do a little discussion let's check this out a high court judge in london ruled right had given deliberately false evidence in a libel case and awarded him one pound in damages after he sued a blogger for alleging that his claim to be the elusive nakamoto was fraudulent because he advanced and this is a quote from the judge himself because right advanced a deliberately false case and put forward deliberately false evidence until days before trial,

he will recover only nominal damages. How do you feel about that, Ben? I mean, okay, so one thing that I read here was that the reason he ruled in favor of Craig and only gave him nominal damages was so that he could no longer harass Peter. because like had it had he lost outright, then he would have been able to go through the appeals court, right? And then like drain even more money. So a ruling technically in his favor means that you can't go back into the appeals court.

And then secondly, he gets nothing. But like the part about him deliberately bringing forth a false case, from my understanding, opens him up to a counter suit from Peter. I'm wondering if he's eyeing that, not that he would say it publicly, but yeah, I don't know. Do you have feelings on this? Like, what's your, what's your hot take? I think the walls are closing in on Craig Wright. This is now the second judge from a bit from a, I would say a well-respected Western country, right?

We had the Florida judge basically saying the same thing that this guy's a liar, right? I was a little disheartened though that technically it is a victory for CSW and I kind of blame a little bit that I blame a little bit on that on the libel laws in the UK, right? That kind of sucks. But I also my prayers and my hopes are with Hoddle not who's also fighting fake Satoshi at the moment. Yeah, yeah, 100%. It's, you know, and Hodlenot, I think the laws in Norway are a little bit better. but, you know, it's still a nerve-wracking thing.

I know that he's personally going through a lot of financial struggle, just trying to deal with the legal fees. It's not cheap dealing with this crap. And even if it gets thrown out or if Craig Wright loses, he's still, you know, the nightmare of having to deal with this and the expense is just crippling. And so, like, somebody, somebody needs to hand Craig Wright's ass to him.

Somebody needs to take him to court and just like, I don't know, or they need to run out of money because I can't like Calvin is just dumping so much money into this. Yeah, they're using their war chest to, you know, pick on people. We'll take it at BS law in the UK to go after people. but I think that honestly Ben I think that this is the beginning of the end because now like I said you have two judges

that are basically calling TSW what he is a liar and a fraud yeah yeah 100% although if you if you won't go over to the BSV camp the people over there like literally you could you could show the exact caption of deliberately false case put forward

with deliberately false evidence like all of this up is like, you know, prior it was like, oh, all that's needed is the law and we'll prove that he's Satoshi. And then it's like, but you didn't. And it's, it's like it doesn't matter to them. So, you know, some people will just, they'll never change. It's crazy. It's crazy because in the, in the comments, every time we cover, we, you know, we put CSW in the thumbnail. I'm always like, you're always going to get that one crazy BSVer that's like, oh, that's, technically a win, you know?

It was just a pound, but it was technically a win. And I'm like, what are these guys doing? You know? Yeah, yeah. The judge had a reason for doing that. Awesome. Well, let's, you know, Craig Wright is a fraud and a liar. But let's move on.

Let's hit up the next one. Absolutely. So this was the big, the big cahuna of this week. Micro Strategy Sailor drop CEO role as companies, as company posts $1 billion and loss. I'm going to read a little bit. Micro Strategy co-founder Michael Saylor gave up his chief executive officer title said he'll focus more on Bitcoin after the enterprise software maker reported a loss of more than $1 billion related to the second quarter plunge in the price of the cryptocurrency.

Micro Strategy President Fong Le will take on the chief executive role. And here it gets into a little bit of the details of how dire it looks like. And Ben, the reason The way that I'm seeing this is that Michael Saylor, like all of us, he's paying his dues. At the end of the day, Michael Saylor, just because he has a ton of money, he only got into Bitcoin a couple years ago.

Remember when you first got into Bitcoin? Dude, that's like a smack to the face, right? So, but these are pretty darning numbers. Revenue dropped to $122 million. Analyst pulled by Bloomberg, expected revenue of $123 million. Net quarterly loss. of 1.062 billion compared with the loss of 299 million in the same quarter of last year.

And again, at the end of the day, Ben, he is the CEO of a public company. And here we have, we have George Gammon. And he has a really good take on this, right? He just says, just went over this quarter's numbers. I'm no accountant. But minus Bitcoin looks like the business basically broke even, has $60 million in cash and debt service payment of 13 million quarterly. If I owned this business, this would make me very uneasy.

Did anyone else review the numbers? And it's not only Bloomberg, it's also Wall Street Journal. Take a look at this headline, Ben. Michael Saylor bet billions on Bitcoin and lost. Look, again, I think that a lot of Bitcoiners were a little bit biased here, Ben, the way that they were covering it. But I'm telling you, optics matter. And this optically, at the time of which when Sailor is stepping down,

whether in the long run he's going to be vindicated, which we all know is going to be the case because number go up. But optically, right now, this looks very bad on Michael Saylor and micro strategy. Unless you're a bitcoiner, you think this guy's a moron. Yeah. Yeah. And I mean, that's always the case, right? When when people see any high profile individual by Bitcoin and it goes down, the immediate knee-jerk reaction is, what a moron. You know, Tim Draper buying buying up all those coins, the auction coins from

from the Silk Road off of the feds. And he looked like he was experiencing massive losses when Bitcoin was like went from like 600 to 300. And now who's laughing now? But that said, I think the one thing that made me uneasy about Sailor is when he started talking talking about taking on debt to get more Bitcoin because then you have to service that debt. And, you know, like he says that he's got his basis covered, but like the numbers there, you know, don't look fantastic, we'll say. And part of you wonders like, shit, like if it doesn't go back up soon, how much pressure is this putting on behind the scenes.

And it was played as kind of a he's focusing on Bitcoin, which yeah, yeah, I'm sure that's a part of it. Everybody, like the brain drain for Bitcoin is real. But I bet there was some pressure

behind the scenes too because the assumption probably within the company, especially that first year, was like, oh yeah it's not going to drop below a certain point like we're not going to be at a loss because we've already made such massive gains it's not going to go below our average cost for a bitcoin and then it has and then far below it um yeah i think it's important to kind of look at these things not through rose colored glasses and and be able to say like yeah this doesn't necessarily

look good hopefully he can just sit this out continue to stack sats sit on that Bitcoin position and there's not enough pressure in the background to like force any sort of sales because I think he's he's right in his his read on obviously you want to own Bitcoin long term and it's the only like it's the place to store the fruits of your labor that makes the most sense it's just timing can be a bitch when you're when other people are relying on you and they don't understand. And the mixture of debt in there can make people very uneasy. If you had just stacked sats and not added debt into the equation,

then I'd be a little less uneasy about it. And just be like, well, are they, you know, how are they doing as a company? Plus, they've got a treasury, but now add in the debt mix. And it's not as great. Yeah, it's, I agree. He went full D-Gen when he started trying to leverage. his, you know, not only his Bitcoin position, but also his company to buy more Bitcoin. And now you're looking back on that.

You're just like, oh, but again, to defend a little bit sailor, right? In two or three years, Ham and Naim Bukkele are going to look like absolute geniuses. Yeah. But we have to remember, it's not that they're geniuses, it's that they just bought Bitcoin, right? Like the rest of us. So, yeah, anyways. Let's jump to the next. Well, you know, we'll wish him well.

You know, he's got to earn his stripes just like every other Bitcoiner. I have no doubt that he will. And he's going to look like a fucking genius, like he said. Give him a few years. And the doubters will be going, oh, wow, he actually did get it. Absolutely. He's going to, he's definitely going to look. And remember, at the end of the day, he's going to be the first major CEO of a Fortune 500 company to make that move.

And I think that's going to solidify his legend over time. Absolutely. But right now, it's what you said. He's paying his dues. Anyways, Ben, I saved this. This is a BTC's Ben exclusive. I covered a little bit of this, but I didn't connect the dots how I'm going to right now. Check this out, right? We have literally 1984 ahead of us. 2 plus 2 equals 5, war is peace. They're redefining recession. And Ben, you used to post some awesome tweets where you would go, like, it's not, you know, there's no inflation. There is. is inflation. It's the supply chains. It's this. Now we're moving forward to now it's not only are they redefining what inflation was. Now we're redefining what a recession is, right? The standard definition of recession before they changed all the Wikipedia definitions was two back-to-back quarters with negative GDP growth, right? Apparently, that doesn't count anymore, right? And it's funny because as Bitcoiners, we've called out all of this BS. And I could tell you, Ben, that our Twitter game, Bitcoin Twitter is starting to get to them.

Because there was this article that came out on Bloomberg. It's an opinion piece. Came out August 1st by Joe Wisenthall. And check this out, Ben. They're using mematic warfare to try to go against Bitcoiners. That's right. on Bloomberg, right, the most well-respected legacy fiat financial publication, they're using memes to try to make fun of bitcoins,

because they're saying bitcoiners are trying to redefine the word inflation. And what I'm seeing here, Ben, is projection, but it's not also Bloomberg, right? Here's the Financial Times article, right? Let's all please stop calling dollars fiat money. Currencies are not memes that only have value because governments say they do. Mimatic warfare is working. We've called them out so hard. They don't know how to respond.

You have financial times like, please don't mess with us. It's not. Fiat money is real. And then you have Bloomberg, like, we got to respond with our own memes. But it doesn't work because you have this super serious publication,

Bloomberg, and they're using a meme? Like, that doesn't work. I love it. I love the, so there's two things that I love here. One, the redefinition of inflation. Correct me if I'm wrong, but the original definite, like it was redefined to what people

are saying as now is like inflating prices. But the original definition of inflation was inflation of the currency, creating more currency. And the second thing that I love here is just the top. title of this article that you have up right now from financial times because it reminds me of the meme the like crying bro where he's like please bro please stop calling dollars fiat bro please i'd like they're pleading for people to stop meming their useless currencies into oblivion and i think it's a beautiful thing they are the meme that they say they aren't like this article proves that

great. And like that I think the first one was written by Joe Wisenthal if I'm not mistaken, the one with the the laser eye meme. Um, but is, is it? Yeah. Of course it is. It's show. You know, and, and I don't know,

Joe comes off as a very like, yeah, he, he's, he's not been a fan of Bitcoin for years and years. Like he, he's been shitting on Bitcoin since 23, And that's going to wear on you when you've been writing articles on Bitcoin for eight, nine years and it continues to exist and it continues to do well.

And now it's in a bear market at $23,000, $24,000 and you're still having to try and shit on Bitcoiners for not knowing what's going on. You're losing, man. You're just losing at different paces depending on what time of the year it is. dude he's he's he's like a peter shift but a journalist version of peter shift right he's doubling down trying to protect his you know to trying to protect his stance uh he's he's stooped to our level now he's using memes to try to solidify his point i don't think that's going to connect with the audience that he's writing to they're going to be

like why is this here um but i wanted to ask you about something ben the redefinition of words man And it was actually you that first pointed it out when it came to there is no inflation. Maybe there is some inflation. It's actually Putin. It's actually the supply chains. No, no, no, no. It's actually the virus. What's going on there?

You know, I think this is, it's, it reminds me of an article by Gigi where he talks about the language that we use and how. language can be weaponized to to form a narrative. And partially he did that in response to one thing was unhosted wallets, right? Where there's no, the language of unhosted wallets infers that unhosted means it's lesser than and you should have a hosted wallet or that a hosted wallet exist. but there's no such thing as an unhosted wallet. An unhosted wallet is not your wallet. It's just somebody else's wallet.

And so his article goes through how a lot of that language can be molded and shifted in a way to to kind of lull people into taking the narrative for granted. I think that's what we see with the redefinition of recession and inflation or like the gaslighting in and around those things where no, it's, you know, it's not inflation or inflation is transitory or it's good or it's your fault or it's here to stay, but here's why you should do this altruistically. And like, you know, it's good for you and it's good for the world. And now recession doesn't exist. Soon it'll be, well, it's temporary. It's transitory. And actually, you know what?

This recession is good for you because it means that we're starving our enemies or whatever the hell is going to be the narrative then. Or it means that we're saving the planet. You know, it's going to be some flavor of that where, you know, they're leaning towards you altruistically having to deal with a recession. And not only that, but they're like, they're pretending right now that it's not happening. Like it's booming. And what was it?

It was of course it was Paul Krugman that tweeted out like a lot of people. First he said something along the lines of the reason that the economy is is sinking right now is because Biden made the economy boom too hard. And now it has to pull back. So it's a natural reaction to going up too quickly and being too successful. which I just found laughable, but then somebody quoted him and showed like jobs and he was claiming that, oh, like Biden's like jobs,

new jobs have been like far better than the previous administration. And somebody was like, can somebody please let Paul Krugerman know that people returning to jobs that they previously left is not an accurate picture? of new jobs. So again, it's gaslighting.

It's mincing words with definitions so that when nobody has a common definition for something, then nobody can argue against anything you say. It just becomes like, well, it's like people when they say, this is my truth. There's no your truth. There's the truth. And we need to have common definitions to figure out what the truth. truth is. And so, yeah, I just think it's such bullshit when people try and take a term and change it. Let's get back to actually having a common language that we all speak, right?

But do you think, Ben, that that is caused because people are using fake money and money, look, at the end of the day, money is half of every transaction. Do you think the fact that the money has been so disconnected from reality is affecting people on a psychological level? because I know, for example, and I know that you feel this as well, because I've had this conversation with many Bitcoiners, is the psychological effects of Bitcoin are insane, right? I think that perhaps because we use Bitcoin as our end of account, we actually appreciate the truth because Bitcoin is based on truth. Yeah. I think, yeah, I mean, the whole ethos around Bitcoin, don't trust, verify, and you start looking for kind of underlying truth in every, that you do. And like, what is your, you know, you start looking at low time preference and and planning for the long term. And, and I think, yeah, money does have a psychological effect on how we live our lives at the very least. And it is, money is effectively language, right? It's where

we have decided to place our value. It's a, it's a language of value. And so when you pervert that and this is kind of paraphrasing Jeff Booth, when you pervert the money, the language for which we place value on everything, then everything built on top of it must also be perverted. And so, yeah, of course you're going to have people that don't know what value is,

that don't know what definitions are, that don't know how to properly gauge or measure anything, because the entire world is based on a system that doesn't start from a place of truth. that can be, value can be redefined with the pressing of a button and the burrow of a printer. And so, you know, we're going to continue to see that, I think. It's, man, it's, it's scary. And one last thing I wanted to run by you, Ben, is what worries me is the last two years is how many people bought into the narrative.

How many people bought into, you know, really, you have to call it for what it is, the propaganda, right? And I'll be honest with you. I was kind of let down because I, you know, I expected more from people, right? It's like, look, it's like, fool me once, you know, shame on you, fool me twice. It's like how many times, you know, it's like, look, there's no inflation. The jabs are 100% effective. You won't get anything if you take the jab. It's like thing after thing after thing after thing that starts to add accumulatively.

And it's like, it's like, man, like a lot of lies, a lot of lies, man. a lot of misrepresentations. Yeah. And I think right now, the world is still grappling with the fact that we have instantaneous global communication. And so previously, everybody consumed the news through the same kind of local trusted source, quote unquote. And if that local trusted source had a story and it ended up being. wrong, then everybody found out that it was wrong at the same time. And there'd typically be some sort of a correction or whatever if that came or maybe not.

And you would just go on living through your false assumptions. But it was it was consistent amongst everybody for the most part because you, you didn't have an easy way to refute what you saw. But now if you don't come out with the truth or what you. you currently believe to be the truth with caveats of what could change with more information, then immediately you know somebody's going to like be able to poke holes through anything that you put out there because they're going to be like, oh, I found the other information right here. And that instantly discredits you for putting out that incorrect information or not saying like,

here's the things I don't know. And so the world is still grappling with this. We don't have one, news sources that actually vet anything that they look through. And two, we don't have a population that are good at disseminating information and trying to get to the root of what the truth actually is. I think that over time is a self-correcting thing. Well, you're either going to get a ministry of truth or you're going to get a population that's very good at disseminating information. My hope is for the latter. They're going to push for the former. But if there's enough people that are diligent, then it's kind of an inevitable thing that you can't stop information at this point.

So it's the next evolution of humanity trying to figure out how to properly interpret and vet information. So we'll see where that takes us. hopefully Bitcoin gets us to a place where that base starts from a place of truth. 100%. I think your observation was spot on. The internet, the decentralized hive mind of the internet has absolutely embarrassed the credentialed class. And then the credentialed class, which is used to having that gatekeeping feature over information, that monopoly over information, they don't know what to do.

Right. And you see this with the government of Canada with their attempts. You see this within United States even. That as the First Amendment is literally freedom of speech, the Biden administration attempted to basically install a ministry of truth as well. So you could tell that it's freaking them out that they can no longer mass and sept their populace with this crazy idea. It was Jack Bostobic who had this incredible tweet. He said if social media was around in 2003, the United States would not have gone to war with Iraq.

Yeah. Oh, yeah. For sure. Like that was, it was so, yeah, I won't go deep into it, but I agree with that ascertain. Or at least there would have been much more pushback right out the gate, right? It wouldn't have been cut and dry. So, dude, I think, I think that has satisfied my, my news thirst for the week. I'm very happy that you could join me. Would you care to do this again, buddy. I would do this every single time you asked me, Ben. Well, guys, let me know in the comments if you, uh, if you'd like to see Nico back. Uh, I would, I would like to see him back

because I love actually riffing off, uh, each other and discussing the news as instead of me just like reading it verbatim. So, um, dude, I appreciate you. I appreciate everything you brought here. Uh, and by the way, I'm going to swap this out for you here. Uh, if, if you like hearing the news than Nico does it six days a week with Optimus. So head over there, check it out. You will get your daily dose of all of the news you need and much more in depth than we did here. These were the Cliffs notes. Go get your full dose of daily Bitcoin news.

Nico, thank you, man. I appreciate it. It was my honor, Ben, to be here. Thank you. Awesome. I'll chat with you soon, buddy. Awesome. Guys, what do you think?

I'm glad that Nico is here. I appreciate him being here. I like that he did this little graphic too, the Simply Sessions. I'm loving it. So I want to have them back ASAP. So keep an eye out for him next week. But I'm going to round this out with a few last things here.

I always try to ask you guys your favorite pieces of content for the week. So I wanted to bring up, I got this recommended by a number of people. and I think it's kind of an interesting one. Breedlove had Corey Clipson on, and they got into a talk about toxic Bitcoin maximalism, which is interesting because Corey's coming from a place where like, quote unquote, toxicity basically helped a ton of people get the fuck out of really bad situations prior to them imploding,

like Celsius. And so we've seen, you know, certain people pushing against it. And then, you know, Breedlove had his own encounter with it because of BitClout back in the day. And, you know, he pushed back against it. And I have not been able to listen to this part of it yet, but they get, they talk about his experience versus Nick Carter's experience.

That sounds like it could get spicy. So I'm very interested, again, from somebody like Corey, who's been out there trying to like channel toxicity to to ensure that people are are making smart decisions speaking with somebody like Rob who uh you know had his bout with it and and hailed it as needed um prior and then kind of also was at odds with it uh in in a certain period of time so yeah i got recommended this definitely going to take give it a listen but yeah, check it out. So I hear from everybody worth a watch.

Also, this week I did the tap signer. You know, I started obviously partnering with Coin Kite, but I had already bought these beforehand, and I've got a whole slew of them now. But tap signer, I really actually enjoyed using it. So I'll just kind of give you a Cliffs notes of what I played with and what I did. But basically it's an NFC card, and you can pair it with a Bitcoin wallet and it generates your keys and you basically use it as like a signer for your mobile device via NFC.

So right now the wallet, the first wallet to support it is Nunchuk. Fun fact, that's the multi-sig wallet that we used in Canada for the protest. But they added support for NFC. So you can add a tap signer. You basically set it up with a pin. and so if somebody gets your card, they can't just like tap it and steal your money. So it's pin protected. You can recover it with a file and a decryption key. And it's like a raw private key.

So you can import it as like a hot wallet to sweep your funds off if you were to lose your card. I kind of ran through the gamut with it. I did a multi-sig with two tap signers just as a proof of concept. Pretty badass. I think it would be super useful for travel. Like if you're carrying a bit of Bitcoin with you, you're not super comfortable carrying it in a hot wallet. Maybe you don't want to have like some conspicuous looking hardware

sitting in your bag to go through with the TSA. Well, maybe just having a simple card sitting in your wallet isn't going to warrant any attention. It's just, it's a card. It does even say anything important on it. So yeah,

I think this is a good travel option or it does also open up a cheaper price point for those that can't necessarily afford higher-end hardware wallets. So yeah, I think it's going in the right direction. The trade-off here, of course, is that something like a cold card has a screen to verify, whereas the tap signer does not. So, you know, if you got the funds to purchase a hardware wallet and it's long-term storage, then I would probably default to like a cold card. But for those that don't have the money for something like that, but still want to have the security of cold storage in a slimmer form factor, then, yeah, I think this is worth exploring. And there's going to be more support, too, from my understanding, Blue wallet is working on it and a few other interfaces.

is you can also get i actually bought a pad like an nfc scanner uh USB plugin for my computer uh and then i was trying to nudge the the uh the nunchuk guys to add it for desktop so we'll see maybe that'll be a thing as well anyways tap signer worth checking out um also wanted to give a shout out to a guy named graham wardle uh some of you may have maybe not people watching the show but maybe um there's a show called Heartland and it's based, it's filmed kind of close to me in Alberta here,

but it's like ranchers and people like, I don't know, like a farm type show, I guess. It's been on for like 15 seasons. Anyways, this guy was like one of the main characters for years and years.

He's since gone off and is doing his own thing and he's got a podcast and everything. But he's super into Bitcoin. And a few years ago, he started calling me up being like, hey, can I book you for like a private session?

I need to learn how to use my hardware. I need to learn how to do all these things. Anyways, he's been talking a lot about Bitcoin over the past number of years. He regularly shares stuff to his audience. He's got an audience of like half a million people on Instagram alone. But he credited me with turning him into a maximalist, which is super fucking awesome. But he had me on for an Instagram live the other day in the middle of the wilderness. We set up Starlink and did an Instagram live in.

in the woods, basically, near our river. And it was more kind of beginner-related stuff. But from the comments, I saw lots of people enjoyed it and got a lot out of it. It's already got like 22,000 views, which is impressive. So anyways, worth checking out if you want to even share that with maybe some of your newbie friends that might benefit from that. But nonetheless, a couple last things here tomorrow. We got guests coming on.

We got Suli, we got Phil slash coinacris, and we've got Fusler on for Why Are We Bullish. Super stoked to have everybody. Can't wait. And guys, thank you so much for being here. If you haven't already, like, subscribe, share all those things. Super helpful. They get this show in front of more eyeballs. If you want to help the show in another way, hit up the previously mentioned sponsors down below.

Those are Coin Kite, Shake Pay, Ledin, Bear Reefil, bill follow. They're all down here. And if you really liked what you tell, you can always drop me a Bitcoin tip at my strike page, strike.me slash BTC sessions. Get there, type in any amount you want. You'll see a lightning invoice or if you tap to the right, a regular Bitcoin QR code. With that, I'm out. Have yourselves a wonderful day or evening wherever you may be. See you guys next time for your daily session.