BTC Sessions - Nexon Purchases $100M OF BITCOIN ep169

Episode Date: April 29, 2021

📰 Tesla sells Bitcoin to demonstrate the currency’s liquidity… https://www.bloomberg.com/news/articles/2021-04-26/musk-tesla-sold-bitcoin-to-prove-liquidity-as-cash-alternative 📰 … then re...ports on its remaining stash to demonstrate the power of just holding 😂 https://www.reuters.com/article/us-crypto-currency-tesla/tesla-says-bitcoin-investment-worth-248-billion-idUSKBN2CF1BG 📰 Online gaming giant Nexon purchases $100 million worth of Bitcoin. https://finance.yahoo.com/news/nexon-purchases-100-million-worth-010200289.html 📰 Rookie Numbers: Dave Portnoy announces purchase of 1 BTC. https://twitter.com/stoolpresidente/status/1386677543185567749?s=20 📰 For the first time, JPMorgan will let clients invest in a Bitcoin fund. https://www.coindesk.com/jpmorgan-to-let-clients-invest-in-bitcoin-fund-for-first-time-sources 📰 Stepping up their compliance game, Square adds a Bitcoin Policy Lead from the US Chamber of Commerce. https://www.coindesk.com/square-adds-bitcoin-policy-lead-from-us-chamber-of-commerce 📰 Better than a No? SEC pushes decision on VanEck Bitcoin ETF until June. https://cointelegraph.com/news/sec-pushes-decision-on-vaneck-bitcoin-etf-until-june 📰 Leading Turkish Bitcoin exchange Vebitcoin collapses as its chief executive gets detained by the government on suspicion of “financial crimes.” https://www.bloomberg.com/news/articles/2021-04-24/turkey-s-cryptocurrency-pain-grows-with-second-exchange-collapse 📰 Blockstream announces the Satellite Base Station: an advanced, all-in-one antenna for accessing the Bitcoin network from space 🛰. https://blockstream.com/2021/04/28/en-introducing-the-blockstream-satellite-base-station/ 💪 SUPPORT THE SHOW: LEDN Bitcoin backed loans –  get $25 free https://bit.ly/397rlLN Get Wasabi wallet for Bitcoin privacy https://wasabiwallet.io/ Cobo Vault: secure your Bitcoin! https://bit.ly/2GgMFlH 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 LIGHTNING tips: https://tippin.me/@BTCsessions

Transcript
Discussion (0)
Starting point is 00:00:24 Wasabi wallet and fairly private. What is going on, everybody? Welcome to the show, Thursday news show. How have you guys been? Welcome. Welcome. I hope you're doing well. Very excited.
Starting point is 00:00:41 Lots to talk about this week. We had people buying. We had people selling. We had a little bit of in between. We had all kinds of different stuff. JP Morgan capitulating, we'll say, lots of fun stuff. So anyways, we're going to be done. into it. Before we get started, I got to give a shout out to BTC Pins who made this shirt for me,
Starting point is 00:01:02 my Pleb shirt, which I'll be wearing to Miami for the conference. Very excited about that. As always, this is live, of course, so quick disclaimer here. We'll do it live. Okay. We'll do it live. Do it live. I can, I'll write it and we'll do it live. The thing sucks! Now there's already 80 some people here. Be sure to smash that like button. Give this a share. Let's get even more eyeballs in here for the show. And as always, I am Ben with the BTC sessions.
Starting point is 00:01:35 This is your daily session. Let's go. All right. Now, before we dive into the news, let's take a look at where we are in the market. This is the Bitbo. com. We're sitting at $53,300-some-odd dollars per coin. A single U.S. dollar will pick you up $1,877.
Starting point is 00:02:11 sats. Pack them while you can. 89.02% of all Bitcoin have been mined. And in terms of fees, they've come down a little bit from triple digits. 72 sats per byte will get you into the next block. And if you're willing to wait an hour, this is actually down considerably, even from earlier today, 25 sats per byte will do you. I think I might open up some lightning channels in that case.
Starting point is 00:02:37 I will get to that later. Of course, there has been. quite the price movement over the past week or so. We had some dips. We had some pumps. We had a little bit of everything. If you go back a month, right around April 14th, we saw the peak, the all-time high, around 64, between 64 and 65K.
Starting point is 00:03:01 Yeah, so that was a couple weeks back, a little bit more than a couple weeks back. We bottomed out in and around the 47K range. range and right now we're up about six grand from that. Okay. So we've had some bouncing around. Now expect a bit of volatility over the next 24 hours. Now why? That's because again, same thing that was kind of going on a little bit last week, but also this week. Options markets. There are expiries, $4.2 billion worth. So this is where people bet on the price of Bitcoin. They say, hey, I'm going to take the option to purchase and or, or sell Bitcoin at a future price set by me or set by another individual.
Starting point is 00:03:48 And so effectively, I'll just read a little bit here. In other words, buyers of call and put options expiring on April 30th will suffer maximum loss if Bitcoin settles at around $54,000 on Friday. So a lot of traders will try to push the price into that range to get a maximum return. on those options expiry. So just watch out for that. Almost all options contracts expiring will do so at 8 o'clock coordinated universal time, CUT. So just keep an eye out for that.
Starting point is 00:04:28 And then after that, we'll see what happens. Before we get into the news here, of course, shout out to sponsors of the show. Lendon.io, you can use your Bitcoin for a variety of different services here. For me, I've primarily used them for Bitcoin-backed loans when I need to get my hands. hands on dollars, but of course, I don't want to sell my Bitcoin for two reasons. That's taxable. And I'm worried about buying back in at a higher price. It's effective for me to do it this way. I can deposit Bitcoin, get dollars to my bank account within 24 hours when I pay those dollars back. I get back the same number of SATs, which is the important number for me. Of course,
Starting point is 00:05:02 they have Bitcoin in USDC. Savings accounts with interest rates of up to 12.5% annually paid monthly and their B2X offering will use the same loan mechanism to instantly buy. you more Bitcoin, effectively doubling your Bitcoin on the spot. So if you're feeling Uber bullish, maybe check them out. Links below, if you opt to click that link and opt to use either of the loan products, they'll give you 25 bucks for free into your savings account. Up next, Kobo Vault, one of my regularly used hardware wallets. I love it. It's 100% air-gapped, meaning you don't plug it into anything internet connected. It's all offline via QR code. This keeps the keys to your money safe and offline. Of course, they have Bitcoin only
Starting point is 00:05:41 firmware that you can update to. They have a dedicated secure element on the thing all around. Love this thing. And I use it a lot for multi-sig alongside my cold card. So, Chef's Kiss for that. Check them out. Links are below. Of course, I do live on Bitcoin.
Starting point is 00:05:57 One of the things that helps me do this is Bit Refill. You can pretty much get any gift card you can imagine here in a ton of different countries. There's a drop-down menu to pick your country. And it's super easy to pay via Bitcoin on Main Chain. or Lightning Network for those fast, cheap transactions. And the beauty here is, while I am living on Bitcoin, I actually earn Sats back with my expenditures here. So very nice there.
Starting point is 00:06:22 They've got a great referral program. And it's also actually kind of privacy enhancing in that you make a purchase of a gift card and then nobody can go and see where you're spending your money after that point because it's a gift card. So be sure to check them out. And finally, if you're backing up any wallet, of course, keep that shit secure. Sometimes paper isn't always the best option that opens you up to fire damage, water damage or just accidentally crumpling and throwing out the thing
Starting point is 00:06:48 because you're not keeping track of it well. Solid steel can help prevent all of those issues. Of course, the Bill Fottle over on Privacy Pros has got you covered, and this is how I back up all of my shit. So check them out. Links are below. And with that, let's dive into the news. Lots of stuff happening in terms of the who's who
Starting point is 00:07:09 of who's buying, who's selling, who's haggling. It was all over this week. Musk went and sold 10% of Tesla's Bitcoin allocation. However, the explanation as to why
Starting point is 00:07:25 they did this is not exactly what you would expect. A lot of people pointed to this and said, hell, you know, they made a bunch of money. That's wonderful. And are they going to continue liquidating? But it doesn't seem to be the case. So, Elon Musk said Tesla Inc. sold 10% of its Bitcoin holdings to demonstrate the token's liquidity while
Starting point is 00:07:45 adding that he's retained his personal investment in the cryptocurrency. Tesla's earnings report showed the firm, which bought more than $1 billion of tokens this year, generated $101 million in income from the sale, just the sale that they made there. Musk said on Twitter that Tesla, in essence, was trying to prove liquidity of Bitcoin as an alternative to holding cash on its balance sheet. wasn't so much of, hey, we don't want the Bitcoin. It's, hey, can we move large amounts of this and stress test us and make sure that it's actually a liquid market and we can get cash when we need it? Turns out, as we all know, absolutely yes, that is the case. Now, in terms of their entire holdings now, their Bitcoin investment is now worth $2.48 billion, this on Reuters here. Tesla Inc.
Starting point is 00:08:34 said on Wednesday that the fair market value of Bitcoin, the electric carmaker has held as of March 31st was $2.48 billion suggesting it could stand to make around $1 billion out of the investment were it to cash in the digital currency. Of course, they're not doing that. They just sold 10%. Again, as kind of like a liquidity test. Yeah, and the proceeds from sales of that were $272 million, a $101 million upside on that sale. So yeah, they're doing okay. They're doing okay.
Starting point is 00:09:13 Now, somebody who wasn't selling, but rather was stacking, is Nexon. So Nexon, a company, kind of gaming giant out of Japan, they purchased $100 million worth of Bitcoin. I'm going to read here from Yahoo Finance. They said, Nexon, a global leader in virtual worlds today announced a purchase of 1,717 Bitcoins for approximately $100 million. at an average price of approximately $58,226 per coin, inclusive of fees and expenses. This purchase represents less than 2% of Nexon's total cash and cash equivalence on hand. Come on, Nexon, what are you doing? 2%.
Starting point is 00:09:55 Let's got to pump those numbers up, son. The quote here, our purchases of Bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets. said Owen Mahoney, president and CEO of Nexon. In the current economic environment, we believe Bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments. So they're basically saying like for a very small risk, which was 2%, they can maintain purchasing
Starting point is 00:10:27 power in the long term. So you've heard the term thrown around maybe Schmuck insurance. Basically, if the currency goes to crap, then Bitcoin continues to hold value or accrues a lot of value to balance that out. I think we're already seeing that, guys. I'm pretty sure we're there. Now, moving on, there was a lot of rumors circulating that Facebook was going to drop in their earnings report that it holds Bitcoin. Well, that obviously did not happen. Now, is that sour grapes from Zuckerberg, where the Winklevoss twins own so much Bitcoin. Bitcoin and that's where they put a lot of their settlement money from Facebook.
Starting point is 00:11:09 I don't know. Is it Sauergris from Zuckerberg that he's trying to launch Libra, now renamed to DM, which is the worst name for a stable coin currency? Basically, Zuckerberg and Facebook wanted to launch a stable coin, which was a basket, backed by a basket of fiat currencies. That raised a lot of eyebrows, brought them in for questioning. and basically got it shut down before it was even able to start. They've since renamed the project and it's just going to be like a US-pegged stable coin,
Starting point is 00:11:43 which we already have through like Tether and USC and so and so forth. But that is now being worked on. I don't know. I don't know. I think that maybe it's a bit of sour grapes. Maybe it's a bit of I can, you know, the hubris of I can do this better, which obviously, no. But anyways, there's a lot of speculation around that, which resulted in this ridiculous spike.
Starting point is 00:12:08 It was like, well, I mean, it wasn't that bad in the context of Bitcoin as a whole. But we did spike like $1,500 in a very, very short amount of time. If we jump back to a jump back to Bitbo here, where was that spike? I wonder if you can even, I don't even think you can see it anymore. it was it's it's not within the last day and on the seven days it wasn't that big but it was like a spike to like 56 something and then straight back down in like minutes um so yeah some speculation going on there didn't pan out so uh another person who's back in bitcoin is dave portney from uh portnoy from from from barstool sports now if you recall if you recall back in the day earlier months ago, months and months ago,
Starting point is 00:13:05 last year sometime, he was dabbling and he had the Winklevoss twins come in and pitch him Bitcoin. And they, if I do say so myself, they did a terrible job pitching it. They started talking about mining asteroids for gold and all. It was,
Starting point is 00:13:24 I mean, for guys that have been around the block, for this long, they really have a terrible pitch for Bitcoin. I couldn't believe how bad it was. Anyways, they also shilled him on some other coins. He ended up buying Bitcoin and then Chainlink. And then he got just destroyed on a lot of that. And then everybody makes fun of him for his lettuce hands.
Starting point is 00:13:47 Basically, he sold all his Bitcoin at a loss. And anyways, then he bought Doge coin because he didn't learn his lesson and he lost a ton of money on that like just last week. And now he's got one Bitcoin. He went and he bought one Bitcoin. He sold all his doge. He said, fuck that. I'm not going to buy that.
Starting point is 00:14:09 He has one Bitcoin. So I mean, kudos to him. I suppose it's a step in the right direction. He's got Bitcoin and he's sitting on that. Hey, you know, it's in terms of his total net worth, it's not a lot. large chunk, but one Bitcoin is far more than most people will ever have. And, you know, maybe just a small position in terms of his net worth is what he needs to wrap his head around this thing. So, hey, I'm hopeful that he'll, he's starting to learn his lesson. So I guess we'll
Starting point is 00:14:46 see. Another person that's looking to stack stats, the chief's tight end Sean Culkin to convert entire NFL salary into Bitcoin. Now, he's not one of the highest paid players by any means, highest paid players by any means, but hey, pretty solid move. Kansas City Chiefs player, Sean Culkin, will take the entirety of his 2021 base salary, which is just shy of a million dollars in Bitcoin. The fifth year tight end for the NFL would like to be paid entirely. In Bitcoin, offensive tackle Russell Okung, who famously followed,
Starting point is 00:15:24 through on his declaration to pay me in Bitcoin still takes half of his $13 million salary in fiat. Colkin will start stacking biweekly SATs via Zapp's strike the same fiat to Bitcoin's salary conversion service O'Kong uses.
Starting point is 00:15:41 The chiefs are aware of this arrangement, but are aware of this arrangement, but his reserve contract is still obviously denominated in dollars, he said. This is generational for me. Culkin told CoinDesk. So we've seen a bunch of NFL players start to make this move where they're like,
Starting point is 00:15:59 yo, I just want to, I want to convert this because if I'm sitting on dollars, I'm getting destroyed here. So yeah, kudos to Jack Mallors and everybody at Strike that is working on solutions for this where you can just auto convert at basically next to nil in terms of any sort of cost to do that. Yeah, more people should, I think. That's my opinion. Let's talk about capitulation. Let's talk a little bit about J.P. Morgan. Now, J.P. Morgan, of course, Jamie Diamond previously calling Bitcoin a fraud, saying that he would sack or fire anybody on his team that was caught trading Bitcoin. Well, times have changed. J.P. Morgan to let clients invest in Bitcoin fund for the first time. So J.P. Morgan Chase is preparing to offer an actively managed
Starting point is 00:16:53 Bitcoin fund to certain clients becoming the latest large and if the CEO is well documented distaste for Bitcoin is any indication, unlikeliest US Megabank to embrace crypto as an asset class. The JP Morgan Bitcoin Fund could roll out as soon as this summer, two sources familiar with the matter told CoinDesk. Institutional Bitcoin shop, Nidig will serve as JP Morgan's custody provider, a third source said. You know, so you know, you have Jamie Morgan and Jamie Diamond calling this worse than tulips. And then this year coming out with massive price predictions from 100K to multiple hundreds of thousands of dollars within the year is their projections. So, of course, we're seeing this kind of capitulation. Now, on the other side, you also see people like HSBC or HFSP preventing.
Starting point is 00:17:53 people from getting any sort of exposure to this kind of thing, including going as far as preventing people from buying stock in micro strategy and buying stock in Coinbase itself, where they're just saying, no, if it's related to cryptocurrency in any way, shape, or form, we forbid it of our clients. So when you have such an outspoken critic of Bitcoin capitulating to allow high and high net worth clients to purchase funds in Bitcoin. and then you have something like HSBC saying, no, you're not allowed.
Starting point is 00:18:29 Where do you think the clients are going to go? I mean, hopefully you'll have some just straight up go to self-custody because fuck all these guys. But, you know, if somebody wants something and they're not going to get it from HSBC, maybe they'll go to JPMorgan. Who knows? Now, the funny thing here that I noticed is that they're doing a,
Starting point is 00:18:52 they're doing an actively managed fund an actively managed Bitcoin fund that is just exposure to Bitcoin. Why is it actively managed? Why are you paying fees on, what is there to actively manage? Do you have Bitcoin? That's all you need to do.
Starting point is 00:19:15 That's it. I'm confused about the actively managed part of this. This is where they're able to extract fees. So yeah, maybe don't go to JPMorgan to get exposure to Bitcoin, but I digress. Let's keep going. Square adds Bitcoin policy lead from U.S. Chamber of Commerce. Let's read a little bit here from CoinDesk. Julie Stitzel, I hope I'm saying that right, the former vice president at the U.S.
Starting point is 00:19:41 Chamber of Commerce's Center for Capital Markets Competitiveness, that's a mouthful, has joined Payment Startup Square as a Bitcoin policy expert. Stitzel, or Stitesl, started Monday as the Bitcoin policy lead at Square's Cash App, as spokesperson said Tuesday. She was previously part of the U.S. Chambers Technology Engagement Center, where she represented the trade organization before Congress and senior manager for federal advocacy and policy at EDC. Quote, Julie will advise teams within Cashab on evolving Bitcoin policy sphere
Starting point is 00:20:15 on the evolving Bitcoin policy sphere, will help Square advance our strategic and long term thinking on crypto issues and will help drive education and engagement with outside parties who work in this space. And this is from a square spokesperson via email. So again, we're kind of seeing the shift where policymakers are shifting into the private sector to help out with companies that are trying to bring Bitcoin to people in various resources. specs. And so to those that are saying Bitcoin will be banned, it seems to be quite the opposite. It seems to be the legacy system is trying to figure out what the hell to do with this, how to
Starting point is 00:21:01 handle it. And former legacy employees are shifting over to the new paradigm that is Bitcoin and where it fits in the world. So we shall see how this plays out. But hey, now the SEC has pushed the decision back on the Vanek Bitcoin ETF until June. Surprise, surprise. Obviously, this was going to happen. Anyways, there were previously a lot of filings for Bitcoin ETFs in 2017, even earlier. All of those got pushed back continuously. They're able to push it back a series of times
Starting point is 00:21:40 before actually giving a decision. Now, I think this time will be slightly different than last time. And the reason, I say that is because we already have multiple Bitcoin ETFs in Canada and US citizens are using institutions to gain access to these ETFs
Starting point is 00:21:58 or they're doing things like buying stock and micro strategy or coin base in order to get some level of exposure to these funds or they're going to close end funds like grayscale to gain access to Bitcoin.
Starting point is 00:22:15 And so it seems stupid not to offer a more efficient vehicle for people to do this if they decide to gain exposure to Bitcoin other than just self-custy. So I'll read a little bit here. It says the United States Security and Exchange Commission has extended the original 45-day window to approve a Bitcoin exchange traded fund or ETF from asset manager Vanek. According to a filing from the SEC on Wednesday, the regulatory body will push the deadline
Starting point is 00:22:41 for approving or disapproving VanEx Bitcoin ETF from May 3 to June 17th, an additional $45. days. Quote, the commission finds that this is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received. That's from SEC Assistant Secretary Jay Matthew. I'm not going to try that last name. Anyways, it's from somebody at the SEC.
Starting point is 00:23:14 What do I think will be different here? I think that what will be the same is that they push this extension period as many times as they possibly can. But I think at the end of it, when they have no more opportunity to push these extensions, they will have at least some approvals. And again, I say that because there's just so many other ways that people are inefficiently gaining exposure to the Bitcoin, that it's going to be laughable if they continue to try to prevent people from accessing these markets. So in my opinion, you'll see that. That will probably be, that will probably result in some pumps where a lot of people buy the news, or by the news, but then when the news actually starts to play out, then we see a dip.
Starting point is 00:24:10 The same kind of thing happened with the CME launch for the futures. futures futures markets in Bitcoin. People got all excited about it. They pumped up the price. And then when those things actually launched, it was pretty subdued. There wasn't really much going on. So I think this might be the same.
Starting point is 00:24:26 It would be really funny if this coincided, if the final decision of yes, we're going to approve these, if it coincided with like the absolute peak of the cycle where we saw like a blow off top. And then when the things actually hit the market, it kind of dithered from there. Of course,
Starting point is 00:24:43 it would be much more expensive for Bitcoin by then if that was the case. But hey, we'll see how it plays there. Some stuff out of Turkey. So Turkey has had a bad couple of weeks here with their exchanges, with some rug poles, and a lot of people losing money. So this from Bloomberg, Turkey's crypto pain grows with second exchange collapse. So Turkey's cryptocurrency investors were dealt another blow at the end of a dismal week after a second big exchange collapsed in as many days,
Starting point is 00:25:15 and its chief executive was reportedly detained. Verbit coin or Webbitcoin has halted operations citing deteriorating financial conditions, and a news agency said that his chief executive, Ilker Bass, and three other employees have been detained. The Financial Crimes Investigation Board has blocked Webbit Coins accounts and opened a probe. The Bitcoin is Turkey's fourth biggest exchange.
Starting point is 00:25:42 with close to $60 million in daily volumes, according to Coin Gecko, which tracks on data, which tracks data on price volume and market value on crypto markets. Wow. More than half of this volume came from Bitcoin, which dropped 19% this week. That's obviously besides the point. But on the other exchange,
Starting point is 00:26:04 Bitcoin's collapse comes days after Thodex halted operations, and its 27-year-old founder fled. the country, Thoducks had about 390,000 users according to a lawyer for the victims and losses could be as high as $2 billion according to Turkey's
Starting point is 00:26:23 Habertuk newspaper. Rough. Yeah, not your keys, not your coins. That's kind of the way it goes. You don't want to leave coins with singular custodians like this on a regular basis, especially that amount of funds. That's insane. Now, the response to this, interesting,
Starting point is 00:26:42 Interesting. Dominic Well retweeted Bitcoin Archive here. And so I'll read the Bitcoin Archive tweet. So Turkey's government will establish a central Bitcoin custodian bank to eliminate counterparty risk after the collapse of two Bitcoin exchanges last week. So they're going to have a central Bitcoin custodian within Turkey. I hope you see the problem there. Dominic did. He said Turkey is giving away the plan for the 60102 attack far too early in the game. Executive Order 6102, of course, was when they confiscated everybody's gold and then paid them out for it in dollars. And then immediately devalued the currency by changing the pegged rate of dollars to gold within a year afterwards. So this is what Dominic had to say here. He said, step one, incentivize Bitcoin owners. to hold IOUs with third party custodians via yield and safe propaganda.
Starting point is 00:27:46 Number two, force custodians to hold their reserves with government-owned central custodian. Number three, implement 6102 attack confiscation. Yeah, I wouldn't trust that. I sure hope that a lot of people in Turkey are looking at other options, things like BISC and hoddle, hoddle, where you can get non-custodial Bitcoin in a decentralized and peer-to-peer manner. I've done a video on that if you're in Turkey, by the way. Check it out.
Starting point is 00:28:19 Let's keep going here. Just a couple last things to start winding down here. Blockstream just introduced the Blockstream satellite base station. So if you're unfamiliar, they recently had the Blockstream satellite, which allows you to connect via the Blockstream satellite to be able to have access to the Bitcoin network and connect your node
Starting point is 00:28:41 without needing an internet connection, which is pretty awesome. So this means that the fud of, well, what if they turn off the internet doesn't work anymore? Of course, it hasn't since this existed, but this is an updated version.
Starting point is 00:28:54 So they said, it's now easier than ever to access the Bitcoin network from space with the Blockstream satellite base station. The base station features an advanced all-in-one antenna that enables users to run multiple Bitcoin nodes without internet access or any additional hardware.
Starting point is 00:29:10 Based on the self-sat IP 22, sat-to-IP antenna, the base station is ideal for bitcoins who want a secondary connection to the Bitcoin network for redundancy or primary connection for increased privacy. It's also useful for Bitcoiners who live in emerging markets, holy crap, sorry, for Bitcoiners who live in emerging markets, emerging markets, remote locations, or who just want to ensure Satoshi's dream lives on in a Mad Max future.
Starting point is 00:29:40 So if you're nerding out at this, might be an option for you. Not super cheap, of course. It is a satellite. But you can grab one for 500 bucks at the Blockstream store. And that's what it looks like there if you're watching on the YouTube stream. It's basically just like a flat panel that you can attach on top of your house. and it's discreet too. It doesn't really show,
Starting point is 00:30:04 it doesn't say like block stream or have like a big Bitcoin B so that somebody sees it and then goes and smashes your window for all your sats. So yeah, kind of cool. Bitcoin continues to become anti-fragile. Now, this is just of personal interest to me.
Starting point is 00:30:20 Of course, I've been using Get Umbrel or the Umbral node. Many of you know this. I've done a video on how to set it up. I just re-synced the whole thing strictly out of vanity because when I set it up, I didn't know there was a character limit to the name, and I typed BTC sessions, but it just used the first part.
Starting point is 00:30:39 So it always said, good morning, BTC, and that always just bothered me. So what did I do? Because there's no easy way to change it yet. I re-synced the entire goddamn Bitcoin blockchain and started from scratch just so I could have it call me sessions. Is this low time preference? I don't know. I don't know.
Starting point is 00:31:01 Anyways, with that, what I'm looking to do now is I really want to get into some of these lightning-related apps. I've been doing a lot of stuff on Liquid Network lately. I'm looking to dive further into Lightning Network. And in their app store, they have a ton of different Lightning Node Management stuff. They have Ride the Lightning, Lightning Terminal, Thunder Hub, Allen Bits, all this stuff. I'm going to start diving into that. And so I had tweeted out, I like to do a tutorial on using Lightning Terminal via Get Umbrel, what items and actions should I cover?
Starting point is 00:31:32 Also, who is best to ask in terms of better understanding of what I'm doing here. Of course, I'm going to be tinkering as much as possible a little bit before making this. So if you have tips or if you have things you would like me to cover, please go tweet at me, look for this tweet wherever you can. I've sent out a few today on what I'd like to cover. But if you have other ideas that you'd like me to cover in doing anything with lightning, please reach out to me or if you have some tips
Starting point is 00:32:00 and you'd like to guide me through or have some things that you've learned of course feel free to reach out at any point Twitter's the easiest place be sure to check that out anyways guys had a good rip today
Starting point is 00:32:13 thank you all for being here as always if you're here on YouTube please do hit like subscribe and share all those things help so much I saw you guys doing it even before the show aired thank you tip of my hat to you if you want to help about the show
Starting point is 00:32:27 another way. You can hit up the sponsors I mentioned down below. I don't know what is going on today. Ledden, Cobo, Bitrefill, and Bill Fottle, all those are in these show notes. And finally, if you really loved what you saw, and since we're on the topic of lightning, you can always drop me a Bitcoin Lightning Network tip
Starting point is 00:32:45 at my tippin.me page. That is tipin.m.me. slash at BTC sessions. I got through it. With that, I'm out. Have yourselves a wonderful day, a wonderful evening. Don't miss, why are we bullish tomorrow? And I'll see you guys next time for your daily session.

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