BTC Sessions - NEWS ROUNDUP: Satoshi Statue Unveiled In Budapest ep200

Episode Date: September 16, 2021

A new statue honoring anonymous Bitcoin creator Satoshi Nakamoto was unveiled in Hungary, Fidelity pushes hard for an ETF, governments begin opening up to BTC and much more on today's news roundup. ��� SUPPORT THE SHOW: Buy Bitcoin In Canada With Bitbuy - after your first $250 purchase get $20 free! https://bitbuy.ca/en/sign-up/?c=BTCSessions LEDN Bitcoin backed loans –  get $25 free https://bit.ly/397rlLN Get Wasabi wallet for Bitcoin privacy https://wasabiwallet.io/ 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

Wasabi wallet and fairly private. What's going on, everybody? Welcome, welcome to the weekly news roundup. Hope you're all doing well. We got lots to talk about today. There's a new Satoshi statue in Budapest. Fidelity has been pushing hard for an ETF. And we've got a lot of government-related stuff that's been going on.

So we're going to cover it all. We're going to chat a little bit today. As always, this is live. Anything can happen, so I defer to my good friend, Bill, here. We'll do it live. We'll do it live. Do it live. I can, I'll write it and we'll do it live. The fucking thing sucks.

Of course, if you're here, make sure you do the three things that help the most. Like, subscribe, share. All of that helps get this content in front of more eyeballs. Let's get this show rolling. I am Ben with BTC sessions. This is your daily session. Puddle by Bitcoin. Before we get going with the news, let's take a look at where we are in the market right now.

I am here on the Bitbo.io dashboard. We are sitting at $47,652 per coin. A single US dollar will pick you up 2,090 sats. 89.61% of all Bitcoin have been mined. And let's see what fees are at right now. Next block, 10. Sats per byte. So we notice it eking up a little bit. And if you're willing to wait an hour, two sats per byte should do you. Although, you know, things have been changing. So maybe set it to

RBF or place by feet just in case. But still, not bad for opening up lightning channels. And it would seem a lot of people have been doing so in one of the stories we're going to cover today. Of course, before we get into those stories, shout out to sponsors to the show, leddon.io. You can use your Bitcoin for a variety of different services. here. And I did just drop a tutorial for the first time a full tutorial on how to actually use these guys just on Monday. So check it out if you haven't. Anyways, if you're in a pinch, you need dollars and you don't want to sell your Bitcoin. Of course, who wants to sell your Bitcoin? But you can, of course, use their Bitcoin back loans. You deposit your Bitcoin.

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So that's super helpful. And they've got a killer referral program. So if you've got friends and family, then you can get some kickbacks from that as well. You guys know Keystone, one of my favorite and most used hardware wallets. And it is 100% air gap. That means you never plug it into anything internet connected. It's all done offline via QR code, and that keeps the keys to your money safe and away from internet connections. You can use it with all of my favorite wallets, blue wallet, wasabi, Spectre, Sparrow, all of them.

They're great. It's awesome and multi-sick. Check it out. Links are below. And finally, if you're backing up any important Bitcoin wallet, get it in solid steel with the bill foddle over at privacyprose.io. Paper might not cut it, you know, fire damage, water damage, accidentally discarding it, things like that. less of a chance of that happening with solid steel. So check out the bill funnel. Links are in the show notes. And with that, let's dive into the news.

I want to talk about this statue that went up honoring Satoshi. So Hungary debuts statue in honor of Bitcoin creator Satoshi Nakamoto. This is on NASDAQ, but it was pulled from Bitcoin magazine. Read a little bit here. Hungary becomes the first country to honor Bitcoin creator Satoshi Nakamoto with a public statue. Today, a statue of Bitcoin creator Satoshi Nagamoto was revealed in Budapest, Hungary, in front of a large and passionate crowd. The goal of the statue is to honor Satoshi Nagamoto, the founder, the founders believe that his work is truly something to be remembered, said the initiative's website.

The bronze statue, located in Graphosoft Park, was sculpted by Gergli. I'm not sure how to say that first name, Rika. and Tomas Gilly. When sculpting the statue, the pair really wanted to capture the mantra of We Are All Satoshi, so they made Satoshi's face reflective so that when you look at the statue,

you remind yourself that you play just as important as a role in Bitcoin as Satoshi and as everyone does. This is also because the agenda to sculpt to sculpt a descriptive face. I like this. This is now on my bucket list. that's the other of Dorian Nakamoto, the guy who Newsweek outed as Satoshi Nakamoto, who actually, of course, was not.

But anyways, I thought it was a funny secondary option for what that statue could have been. Anyways, let's move on. Looming Bitcoin supply squeeze could trigger new bull cycle according to crypto analytics firm Class Note. Let's chat about this a little bit. So certain Bitcoin ownership metrics indicate that Bitcoin could be teeing up for a bullish market cycle, according to the blockchain analytics platform GlassNode. Glass node notes that long-term Bitcoin holders, which we'll just call LTHs, have accumulated 79.5% of all Bitcoin, which is equivalent to the rate achieved last October before the bull market kicked off. So last October when we were sitting, you know, when we started getting above 10K, 12K, 15K, as we started to eke up ever closer near the end of the year to finally surpass that previous all-time high,

that's the same level of long-term holders or LTHs that were holding Bitcoin at that point. Now, it says here, LTHs have on average held Bitcoin for more than 155 days. The firm explains, on an absolute coin volume basis, LTH is currently owned the most coins in history, hitting 12.97 million Bitcoin this week. Peaks in L. Sorry, guys, I think I cut out there for a minute. Let me know if this feed is not going as planned. But anyways, I'm going to continue here. So they were saying peaks in LTH owned supply, typically core. are late with late stage bear markets, which are historically followed by a supply squeeze

and initiation of cyclical bull runs. So Bitcoin is trading at, well, it's been between, we just saw five. It's now 47, seven, somewhere around there. Anyways, in and around 48K, it has been for a little while here. And there I go, losing my spot. So as of the time of writing, it's up over 4% in the past seven days. Glassstone measures age of Bitcoin by noting when it was last transacted. On a seven-day moving median basis, less than 2.5 Bitcoin age one plus year has been spent per day. This is nine times fewer old coins being spent when compared to earlier in the bull market at the peak of that metric in January of this year.

That's when 22.5 Bitcoin were spent from that metric when we hit 42K for the first time. So interesting to see. Yeah, this is, we could be gearing up for an interesting winter. Let's keep going. There's a Bitcoin boom among baby boomers. That's a lot of booming. Reports, BTC markets. So this is from an Australian exchange.

They've observed a significant uptick in older clients using its plows. platform over the past financial year. More older Australians are viewing assets like this as viable investments, according to data provided by one of the oldest and largest exchanges in Australia. In its annual investor report, BTC markets, which started in 2013, reported a 15% increase in number of investors over 65. The report also indicates that the group are making the largest deposits. It goes on to talk about the next closest age.

range is the 18 to 24 age range. And, but still, they're depositing obviously way less because people that are 65 plus tend to be a little bit better off. They've accumulated some assets. It's easier for them to kind of diversify. So yeah, different class of people kind of coming in to, I don't know, speculation or saving in Bitcoin. Now, Fidelity has been pushing hard for the Bitcoin ETF approval.

they had a private meeting with the SEC the other day. And so Fidelity Investment urged the U.S. SEC to approve its Bitcoin Exchange-traded fund in a private meeting listing the virtues of an idea that the regulator has been slow to embrace. Executives, including Tom Jessup, president of Fidelity Digital Assets, met with the SEC officials in a September 8th video call filing show. They laid out reasons why the regulator should approve the proposed product, including increased investor appetite for virtual currencies, the growth of Bitcoin holders, and the existence of similar funds in other countries like Canada, where I live, according to our presentation from the meeting.

Several firms are competing to launch Bitcoin or Bitcoin futures-based ETFs, which crypto enthusiasts view as a key step to broadening the virtual currencies reach. So far, the SEC has taken a cautious approach under Chair Gary Gensler and his predecessor, Jay Clayton. None of the proposals so far have received a green light. Gensler signaled earlier his preferences and that something could be coming down a pipeline, but he seemed to have an openness more towards future products, which is actually not direct exposure to Bitcoin. It's just speculating on the future price.

Now, this is what I found interesting here. Fidelity was pushing against that narrative of, hey, we'll give people access to futures markets first before we give them any sort of direct access. They said Bitcoin's futures-based products are not a necessary interim step before a Bitcoin ETP, Fidelity said in the presentation. Firms should be able to meet investor demand for direct exposure to Bitcoin through ETFs registered under those 1930s laws because the Bitcoin market has matured and can support them. In March, Fidelity filed this application for a proposed Bitcoin UTF called the Wise Origin Bitcoin Trust. Other firms seeking approval for similar products, including Wisdom Tree investments and Arc investments and management. Yeah.

I mean, I find it laughable still that the SEC has failed to approve one. I would not be surprised to see it happen before the end of the year, though. and I definitely was not thinking that would happen back when there was all the hype at the peak in 2017. I thought it was going to be years off. I don't think that anymore. I think it's just around the corner. It's just a matter of when. Again, I would not be surprised to see it before the end of the year, but it's the SEC and they're really dragging their heels.

Things change now that Canada literally sharing a border with them already has multiple products available, though. So we shall see. Okay, let's talk government here a little bit. Ukraine is the latest country to legalize Bitcoin as the cryptocurrency slowly goes global. So in a nearly unanimous vote, the Ukraine parliament adopted a law that legalizes and regulates the cryptocurrency. The bill was set in motion in 2020 and now heads the desk of the president until today. Dealing with this kind of stuff in Ukraine has existed in a legal gray area. So yeah, basically what this does is it makes it legal to own and use and speculate on the cryptocurrency and mine and stuff like that.

But they're still kind of ironing out the details. Previously, it's been it's been shitty to be in Ukraine and be dealing with Bitcoin. Like they'll raid random exchanges and just basically assume bad faith on the part of all of them. And this would hopefully cut down on that. Now, later in this article, they go into some of the other international stuff happening. They say Ukraine joins a long list of countries folding Bitcoin into national law. El Salvador, of course, this past week, the first country to adopt Bitcoin is legal tender. Two weeks ago, Cuba, a notoriously rigid government still set in traditional Marxist ways,

passed a law to recognize and regulate cryptocurrencies citing, quote, reasons of socio-economic interest. Last month, the U.S. proposed rules around brokers and its infrastructure bill. A new German law now allows funds previously barred from investing in various cryptocurrencies to allocate up to 20% into currencies like Bitcoin. Panama appears to be next on deck. That country is kicking around a draft of its own cryptocurrency-related law. And again, this isn't a comprehensive list, but it's just an example of,

of a lot of the stuff that's going on right now. So let's keep it going here. This one stuck out to me because I've been to Laos, but Asian nation Laos is to legalize Bitcoin mining and trading. And so what is going on here effectively? They have changed their policy as of September 9th, authorizing six companies to trade and mine Bitcoin in a trial run while the government begins to draft regulations on its use.

according to the Lausian times, the news followed a September 9th notice from the office of the prime minister permitting the firms, which include construction groups and one bank to start mining and trading Bitcoin. Yeah, so they've got a lot of hydro here in Laos as well. They've got potential for up to 26.5 gigawatts, which would be ideal for profitable and sustainable, sustainable Bitcoin mining. This is interesting. So Lows, they do have their own currency, but they're also very dollarized. So, you know, very, very similar to not necessarily the exact same because El Salvador

doesn't have its own currency, but El Salvador is effectively dollarized. When I was in Louse, everybody dealt in dollars pretty much. And yeah, it was expensive, too, like the ATMs to get cash and everything. thing. And while I was there, this is one of my favorite things. I was there with my newly, I was newly married and I was backpacking. And we walked into a bar owned by another, a Canadian person. We didn't know this at the time. But we go and we sit and my wife goes up to the bar to get a drink. And there was a sign there that said Bitcoin accepted here. I ended up chatting with the guy and everything. And yeah, I ended up actually swapping out some Bitcoin for local

currency because I needed some and he gave me a good rate. Anyways, this is why the story stuck out to me because I have my own kind of like Bitcoin related connection to Louse and yeah, interesting to see. Now let's talk El Salvador for a little bit. Obviously, they this past week made it legal tender. Lots of stuff. There's been some protests around it. Some just in general talking about him and some of his government moves, which is outside

of the realm of is Bitcoin good in general, I would say. But they recently made a move to exempt foreign investors tax on Bitcoin price gains. So let's see. It says here, foreign investors will not be required to pay taxes on profits from Bitcoin, a government advisor told AFP this week. Haviar Argeta, legal advisor to the president, told the news source, if a person has assets in Bitcoin and makes high profits, there will be no tax.

This is done obviously to encourage foreign investment. They say that there will be no taxes to pay either on capital increase or the income, Hargatis said. El Salvador is making the most of its first mover nation advantage. There are many Bitcoiners around the world looking to move to countries that try to take fewer capital gains taxes. The irony of these taxes, of course, is that many states make it extremely difficult. buy Bitcoin in the first place and then expect people to pay capital gains taxes for selling.

Yeah. So this is interesting. I'm curious how this will go. I still think El Salvador would be a big question mark to like pack up and move there because you never know what's going to happen with government there. Right. Like it's there is there's not a great track record historically of the government's being trustworthy.

And I don't know that I would trust this current government. That said, they're making. moves to encourage investment and they will probably get it. So does this start kind of game theory playing out where other countries go, oh, look, they're getting investment. Maybe we need to offer these incentives. And I mean, no capital gains tax is a pretty good incentive, I would say. Now, one thing should be known if you're in the States and you just go down to El Salvador

and don't take any additional steps and you're using Bitcoin down there. Yeah, they're still going to tax a shit out of you. Not El Salvador, the U.S., because the U.S. will follow you to the ends of the earth to get its money. Unless you renounce your citizenship, in which case I think you have to give up like half of everything you own to do that, which is insane. So anyways, that's that. Let's keep going. Also in the same vein regarding El Salvador, there's a lot of interest in Lightning Network. That's how you're getting these cheap remittances cross-border.

border, so and so forth. So lightning adoption is propelling Bitcoin usage in El Salvador and beyond. So the Bitcoin capacity of the Lightning Network, Layer 2, keeps hitting new all-time highs every week. The network now houses over 2,400 Bitcoin in more than 73,000 channels. Since Bitcoin officially became legal tender in El Salvador on September 7th, Lightning saw almost 2,000 new channels opened and 100 additional Bitcoin stored in the. them. As the network advances in functionality and usability and more people get enlightened on the

positive upsides inherent to adopting the technology, it becomes more significant in the Bitcoin ecosystem. As a result, it ends up housing more Bitcoin and posing itself as one of the definitive answers to the baselair scaling issue. So yeah, I mean, I would echo this. I've been dabbling and enlightening a lot. I've been using it on my umbral note. If you haven't got or played with lightning, you need to do it. You really need to do it. And that doesn't mean you need to run a node and get complicated with it. Just download a wallet.

Go and look. I have a tutorial on how to use Moon Wallet, M-U-U-N. You can check out that one. You can check out Breeze, B-R-E-E-Z. I have a tutorial on that too. And those are easy, hey, download and go. And then you can just start using lightning right away. So I would check those out first.

But if you want to dive into Lightning Network tutorials, you can do so in terms of using a node, check out my umbrale setup node and check out the lightning node management video that I did. And it gets pretty in depth, but it's a lot of fun. It's like, it's like learning about Bitcoin for the first time all over again because it's crazy. I'm going to be doing some more lightning videos regarding fine tuning your node in different ways to get incoming liquidity and stuff. So keep an eye out for that. I'm going to be doing some stuff in the coming weeks. Let's talk about stuff in regards to why we Bitcoin.

Also, shout out to people that are in the chat right now. Sorry, going off script a little bit here. But I see you guys in the chat. Thank you for being here. I saw that. I don't know if it cut out a little bit earlier, but I'm glad to have you here. And if you're listening to this later, this goes live. This goes live.

So hit up YouTube and watch this stuff live. Give it a share. It always helps. But yeah, shout out Fisher J. Mike. I see you there. MMM, Cryptocultured, Red Canoe. I see you guys in there.

Thank you for being here. So I want to talk a little bit about inflation. Why we Bitcoin? Poor monetary policy and opting out of that. But there's inflation happening. The narratives have gradually shifted from there is no inflation, despite bunk metrics that are used. CPI in the States is an absolute joke,

if you're looking at that as your measure in inflation. inflation, but that's what they use. And now these non-measures, they can't even keep under wraps. So yeah, right now, this from Al Jazeera here, inflation watch, U.S. producer prices surge to another record. Friday brought more confirmation of rising inflation after the United States Department of Labor said that it's producer price index, which measures prices that businesses fetch for the goods and services they sell,

jumped 8.3% in August from a year earlier. The biggest advance since the data was first measured back November of 2010. And yeah, they start off the, they start of the article with, if consumers in the United States feel like their dollar isn't stretching as far as it used to, there's a good reason for that because it isn't. And they go into some more of the details here. A lot of that is coming from housing and a lot of that is coming from fuel. Now, it should be noted that fuel was,

very, very low last summer because no travel was happening. And now it is again. And so it has gone back up. So that can impact the measurement a little bit. So keep that in mind. But there's no question that everyday items are going up, particularly things that you can't package via shrinkflation. And what I mean by that is by shrinking the packaging and offering less or by offering inferior ingredients that people may not notice. Stuff like meat and produce. If you go and you're buying steak and you're buying fresh vegetables, that's stuff that you can't bullshit, right?

If you're getting a pound of beef, it's a pound of beef. If you're getting a, you know, a rib-eye steak, it goes by the pound. You can see those prices up front and you can't really, you can't bullshit them away. And so people really notice that stuff. Whereas like if your cereal box gets a little bit thinner, you may not notice. this. And yeah, and I see Red Canoe in the chat saying Canada too. Thanks. And that's what I have up next year right here. Yes, Canada inflation hits 18 year high as we're entering the election here. And again, they're just saying that it's, it's the thing that makes me angry here is that recently in one of the campaign stops, Trudeau was saying, you'll forget. give me if I don't pay any attention to monetary policy. Or I'm paraphrasing a little bit.

But yeah, he said that he does not pay attention or care about monetary policy. Well, a lot of people really fucking are right now because it's getting more and more expensive just to scrape by as if it wasn't hard enough already by not giving a shit about monetary policy, it doesn't have, you know, the moment that you don't give a shit doesn't have immediate effect. But as that newly printed money sloshes around and we don't really care how much we're creating, it puts real pressures on people that, especially people that are living paycheck to paycheck that deal primarily in cash.

It's going to be hitting them pretty hard because they're stuck and probably in a, you know, lower wage jobs and they don't have the ability to purchase assets. The assets that they would like to purchase, homes, vehicles, things like that, are becoming incredibly out of reach, partly because people that do have a lot of extra cash, no, they don't want to hold on to it. And so it creates this vicious cycle where people buy up alternative assets to protect themselves from the bad money and people that are stuck with the bad money and have to live on their wages don't keep pace with inflation.

So it's incredibly unfortunate. I'm starting to see it in my day-to-day life with people that I know around me. And it sucks. It is sad. Yeah, that's all I'll say about that. Anyways, guys. So, yeah, so I mean, this is why we Bitcoin, right? We're trying to outpace this.

And I know that Bitcoin is volatile. And that's a criticism that people use. But if you're able to save at all in the long term, you're so much better off than just holding the dollars. If you've got, if you can put the tiniest bit away and you have a four, at least a four or five year time horizon, if not far more, then then you're much better off. So yeah.

And to add to that, the cherry on top here, this is an article from the Wall Street Journal. And it says digital currencies paved the way for deeply negative interest rates. and what are they talking about digital currencies? They're not talking about Bitcoin. They're talking about central bank created digital currencies. And so this guy here, he's saying that talking about Federal Reserve issued digital dollars. I know Canada has been knocking around the idea.

China is well on top of it. Basically, they're talking about, he says here, the article, Jane McIntosh, from the Wall Street Journal. He said, the main monetary policy of the digital dollar comes from the abolition of banknotes.

If people can't hoard physical money, it becomes much easier to cut interest rates far below zero. Otherwise, the zero rate on bank notes stuffed under the mattress looks attractive.

And if interest rates can go far below zero, monetary policy is suddenly much more powerful and better suited to tackle deflation. See, he's framing this as such a positive

thing for people that just want to save their dollars and not be forced into speculating on on financial products that they know nothing about. But they have to, right? They have to. If you just save money, you're screwed in retirement. It's impossible. So he goes into a lot here, but this is some of the quotes that are like, oh, my God,

they're not even trying to hide it anymore. Central banks are making lots of effort to make sure CBDCs aren't seen. as a possible monetary policy instrument. This is head of the Bank of International and Settlement, Bank for International Settlements, aka the final boss. He's from the Innovation Hub and a former European Central Bank policymaker. My take is that that discussion will come only later.

This matters for investors because if rates can be taken deeply negative, it would shift the long-term outlook for interest rates and inflation. The ECB has a rate of negative, 0.5%. Bank of Japan, negative 0.1. Swiss National Bank negative 0.75, but none think they can go below 1%. The main limit is that deeply negative rates would encourage people to switch to banknotes to earn, put in quotations, earn zero on their savings. Holy Jesus, is this real? Is this real life, you guys? Instead of losing money,

there are costs to hoarding large amounts of physical money, including storage and insurance against fire or theft, which allows slightly negative rates. But go deep enough and negative rates would be applied to an ever-shrinking pool of savings undermining their efficacy and draining the banks. This is the craziest thing that he gets into here is he's talking about negative rates as deep as negative 5%. So what's the main message here? Basically, that wouldn't it be wonderful if we didn't have actual physical bills anymore and all of the dollars were allocated to a digital wallet that is in direct contact with the central bank?

At which point, the central bank could enact negative rates, meaning that if you don't spend your money in X amount of time, a percentage of that gets shaved off. imagine holding your paycheck and if you don't spend it quick enough, you're getting 5% lobbed off every year. Oh my God. And they're saying that this is an excellent measure to, to, like, they want to use it as spend your money. Be like consume, consume. Let's get this economy going and we're going to penalize you if you dare save any money. This, this is why we Bitcoin. This is why.

Just to, you're working, you're making a transaction with another individual saying, I'm willing to give you a certain amount of my time, which is absolutely finite. I'm going to give you a certain amount of time and effort in order to exchange it for these dollars, for instance. And those dollars at the time of this transaction, I know what I should be able to redeem them for, more or less. I know the value of them in relation to all other goods and services out there. But the longer you hold on to those dollars, the more that promise and that exchange degrades, the more you're on the shit end of the stick for daring to defer gratification to a later day and save for your future.

So again, the whole thing is just the antithesis of having a responsible, forward-thinking society that actually plans for the future. It's unbelievable. So anyways, guys, this is why we Bitcoin. Ray Dalio was in the news the other day talking about Bitcoin. He said that if he basically said that if Bitcoin is successful, regulators will, quote, kill it. And he said that they have ways to do that. And he didn't elaborate on that at all.

He also said that he has money in Bitcoin, which begs the question, if you have money in Bitcoin and you think it's going, like that denotes that you think it's going to be successful, but you think that if it's going to be successful, it's going to be killed. So why do you have money in Bitcoin? So there's this weird circular logic going on here. There's a good meme dropped by a Mattias trader here, Peter Parker reading, government's reading a book called How to Stop Bitcoin.

And it's just one page that says you can't. And then he cries. Anyways, I like that one. And then just as an example of one of the things of how unstoppable Bitcoin is at this moment, this is a thing that's been around since 2017 put together by Pavel Rosnack. And he put together a way where if you don't have internet access, if you just have access to like SMS text messages, you can literally construct a Bitcoin transaction in a Bitcoin wallet that is off-long. not able to access the internet.

And then you get what's known as the hex, the hexadecimal of your approved and signed transaction or the base 64 of your transaction, which is just lines of code. You paste it into a text message to the phone number, 1863 Bitcoin. And it goes to a hub that then broadcasts to the Bitcoin network and gets your transaction through.

It's awesome. So I'm looking to play with this. I know you can do it through Samurai wallet. They have offline mode so you can get that information. I tried it on Blue Wallet and I wasn't successful, but I think I was doing the wrong thing. So I got to experiment a little bit more. But yeah, you can construct an offline transaction, send a text message, have your Bitcoin transaction broadcast to the Bitcoin network.

We've also had Rodolfo from Cold Card. he's done a Bitcoin transaction via shortwave radio burst in a snowstorm from Canada to the US, which is awesome. We also literally have satellites circling the globe hosting copies of the Bitcoin blockchain so that people can download and see that data. So yeah, it is very, very resistant to state attack. You can regulate on and off ramps, but there's ways around that too. You've got the BISC network.

you've got all these peer-to-peer solutions now. I don't think Ray knows what he's talking about. Anyways, if you check out, just follow Pavel Rosnack, P-A-V-O-L-R-U-S-N-A-K on Twitter. And it's a recent tweet from just the other day. And he has a link to how to use his SMS text message. And he shows an example of what that string of code looks like. And you send it off and it just goes through this hub. He basically rented a virtual number for like less than one euro a month.

And yeah, it just gets blasted out to this hub that that uploads to the Bitcoin blockchain. Crazy. Anyways, guys, one final thing I want to touch on here is I'm starting to do some more short term, sorry, short form content. Just simple stuff that can be blasted out via Twitter and via some other platforms where there's a lot of shit coining going on. and I'd like to, you know, get some Bitcoin-only content on there. So Instagram and dare I shudder to say TikTok, but what that content is going to be, one is called your bullish bit. And this is super easy.

But basically, if you watch, if you tune in to Why Are We Bullish on Fridays, you can comment with a timestamp of your favorite moment of the show, the best rant from the best guest. And the next week, I will clip that down into a two-minute or less clip. And it'll be shared out everywhere, including those platforms that I mentioned, Twitter. I think Facebook, it'll still go to YouTube as well as a shorter clip. It'll go to Instagram and TikTok. And so it'll go around there.

But the second thing that I'm going to do outside of the bullish bit is lightning sessions. And what this is is you can submit questions, any simple question that you like in the comments of a show on a specific topic. And I'll draw up the topic. I think every time I do a news video on a simple topic. And any question related to that topic, I will pick my favorite one. And then I will do a short two minute or less response to that question that somebody may have. So I'm going to keep it simple. Again, this is the first time doing this.

But I would like to hear your wallet question, your Bitcoin wallet question. Do you have a question about Bitcoin wallets? Drop it. You could drop it just in the comments of this video. Not in the chat, but in the comments, I believe, after this airs. Or you can comment on the tweet when I announced this show. You can do it there. I'll figure out some other interesting ways for people to submit questions as well.

That might be fun. But my favorite one, I will create a video on and I'll also give you a shout out for submitting that question next week. So that is that. I'm going to wrap this up, guys. Thank you so much for watching and or listening if you're on the pod afterwards. Please do hit like, sub, share if you're here on YouTube. Those things all really do help. You can also hit up the previously mentioned sponsors and the show notes.

That was Ledden, Bit Buy, BitRefil, Keystone, and Bill Fonnell. And if you really liked what you saw, you can drop me a Bitcoin tip at my strike page. That is strike. Dot me slash BTC sessions. When you get there, you can type in any amount you like. You hit the tip button. You'll be greeted with a lightning invoice or if you click to the right, a regular Bitcoin QR code. With that, I am out.

Have yourselves a wonderful day or evening wherever you may be. And I'll see you guys next time for your daily session.