BTC Sessions - Powell & Buffet Just EXPOSED 2008-Level CRASH Incoming — This ENDS Badly (Even Bitcoin Is Not Safe)

Episode Date: November 7, 2025

Warren Buffett, Jerome Powell, and the bond market are all screaming the same warning—and it’s not good. In this urgent episode, we break down 3 massive red flags flashing across the financial system… and why even Bitcoin could feel the shockwaves if this unravels.BOOK private one-on-one sessions with BITCOIN MENTOR! Learn self custody, hardware, multisig, lightning, privacy, running a node, and plenty more - all from a team of top notch educators that I've personally vetted.https://bitcoinmentor.io/—------------------------------FOLLOW BTC Sessions on X: x.com/BTCsessions—------------------------------SHOW SPONSORS:BITCOIN WELL BUY BITCOINhttps://qrco.de/bfiDC6COINKITE/COLDCARD (5% discount):https://store.coinkite.com/promo/BTCSessions AQUA WALLEThttps://qrco.de/bfiD8gNUNCHUK HONEYBADGER INHERITANCEhttps://qrco.de/bfiDARHODLHODL NO KYC P2P EXCHANGEhttps://hodlhodl.com/join/BTCSESSIONDEBIFI LOANShttps://qrco.de/bfiDCp#btc #bitcoin #crypto

Everything bubble is popping, and not even Bitcoin or the biggest Bitcoin treasury companies are safe. Red flags are flashing across every corner of the economy, and this week these signals turned deafening. The overnight repo market just sent a warning stronger than what we saw before the dot-com crash. The Fed is quietly preparing for a complete 180, a potential panic pivot. One of the world's largest banks just started shorting the darling industry of the 2020s. Warren Buffett and Berkshire Hathaway are making moves that scream brace for impact. Even the housing market is cracking. One key indicator is at its worst in nearly 30 years, and commercial real estate is looking

worse than 2008. Layoffs, they're surging at eye-watering levels, and yes, even some of Bitcoin's biggest corporate believers have started selling from their treasuries. So what the hell is happening here? Is a financial Armageddon that would make 2008 blush upon us? And how should you prepare? So lock in, drop a like on the video if you can and stay tuned. You are not going to want to miss this one. I am Ben for the BTC sessions. This is your weekly. session. All right, I want to welcome to the stage, my co-host with the most Nathan Fitzsimmons of Bitcoin Mentor. How you doing, man? I'm doing a lot better than the samurai devs. Did you see what

the hell's going on there, man? They've been guilty and they're treating them like that. Yeah, it's really bad. And we're going to have to talk about that because, yeah, it's another one of those huge miscarriages of justice. And yeah, can't feel enough for the guy. But we'll, we'll chat about that in the show today. But holy crap, stuff is blown up right now. It's pretty wild. So this section is going to be a doozy. There's a lot going on.

I mean, if the intro was any indication, we have some stuff to talk about. And we're going to do that right now. So right here over at Bar Chart, so breaking U.S. banks. Breaking U.S. banks, yeah. Federal Reserve, they just pumped 29.4 billion into the U.S. banking system through overnight repos. This amount far surpasses even the peak of the dot-com bubble. Probably fine. Carry on. This is on November 1st.

But let's keep taking a look here from Macro Micro. demand for overnight funding, the sulfur rate. So this is the market's repo benchmark. So the positive spread that we see here, it means that banks are borrowing super aggressively. And Nathan, I know you can break down what that means. But first, let's take a look at a few other things. And then I'll get you to kind of concisely describe what we're seeing here. James Lavish, always incredible with his breakdowns.

But he says, I love his good ones. morning posts. He always puts such a cheery spin on shit going sideways. He says, good morning. After a month of increasing usage, overnight borrowing the need for dollars exploded on Friday to $50 billion, mostly in the afternoon session and not posted by the Fed, but captured by Bloomberg. This need caused the SOFER, the borrowing rate, to explode to 35 basis points above the Fed funds rate. While some increased activity is expected at month end, these are serious red flags that the financial system is on the verge of locking up unless the Fed adds liquidity soon. Have a great week. So very, very nice. There's, there's, James is an incredible person when it

comes to helping understand this stuff. He's been on the show many times before. Love the dude. but I do encourage you to check out. He's got a blog, The Informationist. It's at James Lavish.com. And he did an article not that long ago, a couple weeks back, October 19th, why QT or quantitative tightening is dead, and QE or quantitative easing,

aka Money Printer Go Burr, is coming. Highly encourage you check it out. Very good read. Now, in regards to these overnight borrowing, repo rates from zero hedge. The Fed's Logan, he says, if the recent rise in repo rates turns out not to be temporary, the Fed would need to begin buying assets, again, AKA MoneyPrinter Go Burr. Fed's Logan again, supported decision to end Fed balance sheet runoff, meaning them trying to sell

assets, aka tightening or money printer not go Burr. There's a really great article from Zero Hedge here that we're going to take a peek at and just kind of get some bullet points from. But first up, Nathan, when you're seeing this, when you're seeing these surges in overnight demand for dollars, what does that mean? Can we simplify that for people watching so they kind of understand the implications of this? Yes. The simple implication is there is a shortage of dollars that people need to borrow dollars in order to meet their obligations. And normally the repo rate collateralized is a really efficient and very low-cost way of borrowing. And it literally is like a repurchase.

So Ben's got $100 and I got a piece of collateral. And so I sell him my collateral for the $100 and agree to pay him back $100 and $0.10 the following day, right? That's the idea. And if you're seeing the interest rate spike, then basically that means that there's such an overwhelming demand that you can demand more interest, that you need to provide more interest to get more people that give up their collateral, that people are kind of fleeing to safety and that there is a demand in the commercial banking system to get dollars to meet their obligations. This just shows you that you have disruption in the monetary system, that there's some sort of disruption going on in the monetary system. And it may be, you know, people talk about in their weird Keynesian shit, all the like elastic money and then money velocity.

You can think of it as like things are slowing down, money maybe not moving quickly between hands. And people are trying desperately to get their hands on dollars to meet the obligations that they have to. Nice. Very well done. Probably better than I could have done. That's for sure. Not going right, guys. Yeah, things are bad. If you remember, the last time this happened was 2019, the repo crisis, which led right into COVID, which basically COVID papered over the repo crisis that was boiling up there. Yeah, yeah. Now, I want to highlight this, this Zero Hedge article, called No Way Out.

And I'm going to give you kind of the bullet points without reading it, without reading it verbatim. But effectively, the Federal Reserve has abandoned its effort to shrink its balance sheet, aka quantitative tightening, shrinking the number of dollars in the economy. And that signals that the emergency era policies that they enacted that they said were temporary that they would wind down, they've become permanent. So the Fed is kind of stuck between two dangerous positions. If they raise rates further, they would deepen their losses. And they would destabilize markets.

If they cut rates, they risk reviving inflation. So there's no real clean exit here. So the central bank now treats its massive asset holdings as essentially non-sellable. They can't get rid of them. Liquidating them would blow up the housing and mortgage markets and would expose huge, unrealized losses. Right now, it's just kind of like tucked in the corner and nobody's saying anything about it. Now, in the piece here, it argues that the Fed didn't just intervene in markets.

It actually became the market. It made the emergency policy the new normal and not a temporary fix. Yeah. And so, I mean, Zero Hedge is known for these types of articles. And I've got to say, they're not wrong. And the actions of other people in the market would echo this. So legendary investor Warren Buffett and his firm Berkshire Hathaway, this shows their purchase of treasury bills and their purchases of stocks.

And you can see right now effectively they are dumping stocks and they are getting their hands on dollars. And so Nathan, when somebody's dumping stocks and getting treasury bills, which are effectively exposure to dollars, what does that? say to you again it says that someone's battening down the hatches and they kind of view one of two things happening either they think that they're and kind of both will likely happen that there's going to be a major bid on treasures it's going to be the rush to the safety rush to collateral again you need this collateral if you want to borrow dollars and stuff as well too and so he's a going to safety b he probably thinks there's going to be something like a bull statement that the fed is going to

drop rates and the value those bonds is going to go up so you can make a profit on those bonds those treasury holdings as well too and very much think he's basically loading up his purse to go shopping. I think he's expecting that we're going to see a major correction that's going to come with Fed intervention that's going to lower rates, boost the value of his bonds, and he's going to go up and basically, it's a classic when there's blood on the streets to start buying, even if it's your own. I think he's preparing for blood in the streets. Yeah, very much seems like it. And Buffett, other than his take on Bitcoin, you know, he knows what's up. There's a reason why Berkshire Hathaway is what it is.

He's betting with his money, right? You can't argue against it. He could be wrong, but he's putting his money where his mouth is and moving into treasuries. 100%. 100%. And again, we've just kind of scratched the surface here. There's even more.

So the U.S. housing market, officially frozen solid, only 2.8% of homes, about 28 out of every thousand homes changed hands in the first nine months of 2025. This is the lowest turnover in at least 30 years. 30 years. So like nobody, nobody's buying and nobody can sell. Like, it's just nothing is happening. It's not good. And it's not any better than with commercial real estate.

So here, this is mind-numbing, breaking the delinquency rate, delinquency rate, rather, on commercial mortgage-backed securities for offices surged 63 basis points in October to a record of 11.8%. It is now over a full percentage point above the post-2008 crisis peak of 10.7%. So shit is already worse than the financial crisis. And it's like nobody's saying anything it's kind of everybody's like bracing but it's already worse than it was like at the worst um and so yeah here's here's the and i'll shrink it a bit but here's the financial crisis this is the delinquency rate meaning people not meaning their obligations unable to pay and this is now this is how bad it is that's crazy this is a recession at post dot com now here

That's insane. This is not good. This is not good. And on top of that, October layoffs surged the most since 2003. This is, of course, post like dot-com bubble when everything imploded. It was pandemonium. U.S. labor market weakened considerably in October with companies slashing 153,000 jobs, nearly triple last year's total, nearly triple last.

last year's total and the highest for that month since 2003, according to a new report from out placement firm Challenger Gray and Christmas. And speaking of like the title here says layoff surge most since 2003 amid cost cutting AI adoption and Challenger data shows. And AI has been one of the industries that has been, has seemed super, super promising. But will it continue to be at least for the time being, well, right now, some people are placing big bets that it's not going to go superhungy dory. Deutsche Bank reportedly shorting AI stocks as data center risks emerge.

Is it the big short 2.0? So nobody has faith in anything right now. So we're talking about all of this and also Bitcoin, you know, price not doing. so hot comparatively to where we were right we were up like one close to one 25 or something like that we've seen dips below 100k i'm not don't have a price right in front of me right now i'm sure the chat can fill me in but you know we've we've seen this has been the year of bitcoin treasury companies and the hype around it is palatable and everybody's super excited all these companies are they're buying diamond hands, never sell kind of thing. That's the vibe that you get from it. However,

I'm not sure how to say this. Sequins. Sequins. I think so. Yeah, they just dumped on, this is a Bitcoin treasury company. They just dumped almost a thousand Bitcoin to slash some of their debt as the Bitcoin price hits a four month low. Is this a red flag? So, quote, the first major Bitcoin sale by a publicly listed treasury company raises questions about timing, corporate crypto. I hate the term, crypto strategy, and what this move means for investors and the market.

Now, in regards to this firm, there's some interesting stuff about it. So they announced a Bitcoin Treasury initiative just in June and July of this year. So it's not like they've been doing it for a long time. They raised roughly $385 million via equity and convertible debt. And the intention was to use the net proceeds to accumulate Bitcoin as a reserve asset. Now, they entered into a strategic advisory with Swan Bitcoin.

So under the agreement, Swan will or did advise and assist on Sequoan's Bitcoin Treasury strategy, including custody architecture, governance, capital markets guidance, and the execution of Bitcoin acquisition. So this is basically the corporate entity adopting Bitcoin as a Treasury Reserve asset, and Swan is the specialist firm brought in to help design and implement the Treasury strategy. That's kind of what I've read around the Internet. Now, the interesting part here, I don't know the details on it, but in reading three, through. Something stood out to me. So again, remember, swans advising them the whole time,

I'd imagine that Swan would, I assumed, and maybe erroneously, assumed that Swan would be the one facilitating the buy, but also the sale if it happens. But down here, on-chain data first spotted the shift last week when a wallet linked to Sequins transferred nearly a thousand Bitcoin to a coin base address. I don't know what to think. Like, yeah, I don't know what the deal is there. Like, I haven't spoken yet with anybody at Swan, so maybe they can enlighten me. But like, Nathan, I don't know.

What do you? Is it a nothing burger? Probably, but it's still, like, it's just so odd because you would think that there are a market making people who can come up with that cash to just basically just do the buy and sell between. Like, maybe it was that sufficient volume that they just weren't able to handle it on that day. Maybe there was some sort of like fiduciary duty.

Like you can't be selling to the company that is the strategic advisor. Like it has to be through someone else. You know, like some sort of conflict of interest. I do find it odd. I don't know what to make of it. Yeah, me neither. I'm going to have to see if I can touch base with some of the people at Swan to see what the deal, like what in what capacity. But it's very interesting.

Again, it's pointing out that just because a company has a Bitcoin treasury strategy doesn't mean that they continue with the same strategy. Like they can buy and sell Bitcoin as they please. Now, another company that I love that has a treasury, like they save in Bitcoin, also recently sold some Bitcoin. And that is Start 9.

So Start 9, awesome. Matt Hill actually going to be on the show next week. Next week, Matt Hill's up. Yeah, it'll be a good one. Yeah, Matt Hill is a legend. I love this dude. So nonetheless, this was a tweet just the other day, two days ago, until a couple weeks ago, Start 9 had 100% of our treasury in Bitcoin.

We sold some at 117K. As soon as we understood, a contentious soft fork was likely. Talked about this on the show before. While not solely responsible for the recent decline, it will be a headwind for confidence and price until a resolution is reached. So that's a pretty spicy take. And I'm going to have to ask Matt about it when he's on the show. But they did, because there's a lot of back and forth about this in the comments, they did elaborate on it. So I want to actually read what was written here. It is not our mission to hold Bitcoin and bull post the latest politician or celebrity to say crypto. Start 9 is not a Bitcoin treasury company.

We are a small band of Cypherpunks and Bitcoiners trying to help disembowl the global tech cartel with code, hardware, education, and support, none of which is free. From 2020 to 2023, we held between 10 to 40% of our liquid capital in Bitcoin. Since early 2023, that number has been 100% selling only enough each month to pay the next month's bills. 75% of the people paid by Start 9 are paid in Bitcoin. 90% of our customers are people wanting to run a Bitcoin, a Lightning node. 25% of all the nodes on the network are running on Start OS. That's impressive. I didn't know that. That's awesome.

That's really cool. We are by every metric more invested in Bitcoin's success than pretty much any company on the planet, and we are actively contributing to its success by augmenting its core value decentralization through the proliferation of nodes. Every piece of code rewrite is MIT licensed, same as Bitcoin, the most free possible. We do not rely on charity, debt, or gimmicks. Our only defense as a business is the quality of our products, warranties, and support, and our integrity to the principles of openness and freedom, despite a few haters and morons

who would prefer that we hoddle Bitcoin and bull posted about it rather than fight a revolution. We will carry on. We will do whatever is necessary to achieve our mission, including exchanging a tiny portion of our Bitcoin for inventory and time occasionally when we see headwinds in the market. And we will share what we see because we believe in transparency. You don't have to agree with what we see. When it comes to the showdown, we will be there arming you. Your treasury companies, celebrities, and politicians will not, that gets me fired up.

I like that. I was just looking for a mic to drop. It's in the other drawer. I couldn't reach it. Yeah. So I love this. So this is the purpose of Bitcoin as a whole, right? This is the purpose.

It's you are saving the fruits of your labor and a money nobody can print. so that when you need it, you can arm yourself with the tools to flourish. And that's what I'm reading here. It's not a word dumping because of reason X, Y, and Z. It's, hey, we want to arm ourselves with more hardware. We want more nodes. We want more self-sovereign bitcoins and people using sovereignty tools out there. And we see a moment.

And maybe they're right or wrong about the direction of price. That's immaterial. They're saying like right now, just to make sure that we kind of lock in and we have an inventory to do what we do best, we're using our Bitcoin. Fuck yes. Use your Bitcoin and do well. And maybe a few months from now, they'll be like, as is the case in a lot of times, it's like, shit, I could have gotten more inventory now. But as a Bitcoiner, you know, that's the price of the revolution. I think is sometimes you know sometimes you use your Bitcoin and you could have gotten more bang for your buck later but you're you're a part of something you're building something and you're helping push it not just to yourself and your children and your children's children but for generations to come so like yeah take those hits but like they're they're all in on Bitcoin they're just making sure that they've they've got some some some powder so that they uh you know the next

next year is easier for them. So what I want to quickly chat about here with you, Nathan, is just the general, okay, well, everything is imploding. Everything is crazy. And when everything implodes, the Bitcoin price is not immune to that. You know, we saw in recent memory, the one that stands out the most to me was the COVID crash. that was wild.

People that weren't around for it, it was 2020 in March, if I'm not mistaken, in a very short period of time, Bitcoin went from over. Yeah, it was definitely, it was coming down from like a pretty high amount, but it dropped from 10 to 4 effectively in like a day and a half or a couple days.

It was eye-watering. But the people that saw it for the opportunity it was, can you imagine picking up a coin for four grand right now? Oh my God. Even 10. But what people did, though, was they panic sold at four. Thinking like, yeah. So the important takeaway, in my opinion here is, yes, can Bitcoin be dumped along with

everything when the entire market is panicking? Absolutely. It's one of the most liquid assets on the money. planet but does that mean you should dump it well not not if you don't need to start nine is doing something because they have a business to run and they want to make sure that they're sitting pretty um but that doesn't mean that you as a saver of bitcoin should see this as anything more than a temporary blip um so nathan did you have some thoughts here yeah i think if i just wrap up what matt hill said and what you were saying here is don't be a little bitch like it's gonna happen right

it's going to happen. If we have, it's the 24-7 trading market. It's a small market cap compared to all the other big pieces of collateral. People are going to sell it because they're going to need it for other, like the repo market. They're going to need cash to meet obligations and they're going to sell. The one thing that I want to hit on, too, is like, one is that Bitcoin, I think Lavish has talked about this a lot as well, too. Bitcoin is the last remaining smoke detector. It's like, why are we down right now? Well, in hindsight, I'm not at all surprised. Look at all the crap that's happening, right? Bitcoin probably was giving you an early detection of that because it's the closest thing we have to a free market, even with the derivatives and treasuries and shit on top of it, 24-7, global liquidity, anywhere in the world. If something's stirring, it's going to respond. I think that's what's ultimately moving the needle. And I would even, like, disagree with Zero Hedge a little bit there. And the guys even, I agree with taking the short position on the AI. I think that that's going to come up here, at least at some point.

It could be six months, two years, who knows, but it does feel like it. It's, Navidia is twice the value of Canada. Don't get me wrong. Canada sucks. And we'll talk more about that later. But I'm not sure that a chip manufacturer is twice the value of this giant country, even just took it stripped it for its resources. But the dollar, the Dixie is up right now as well too.

And I think what we're seeing, it may even be leftover damage done from the COVID lockdown. So don't forget, like the QT, when they're trying to roll off the balance sheet, they're nowhere near where they were pre-COVID. And that created a whole bunch of disruptions and things that we're going to just kind of like lay there for a while. But you're seeing basically layoffs increasing. You're seeing that people like, why are people not doing real estate? Because they're afraid about their jobs, right? They're afraid about there.

There's all this uncertainty in the market. And from the consumer to the company, to even the bank level, people don't want to participate. And it's like an engine seizing up. Now, that engine mentality for an economy is kind of stupid, but in this particular instance, it makes sense. The components don't want to move, right? And as soon as they all kind of stop moving, that's when the, have you ever seen the big short? What's the other one? Margin call.

The music's going to stop. And that's what we're kind of seeing here. 100%. To put it in 80 IQ for everybody, Bitcoin is always dumpiest before it. It's pompiest. And if you remember, Ben, I think it was six months, six months after the COVID crash. It was back to the previous high and off to the races. Yeah.

Like that is a chart to go and take a look at to see how quickly this thing can crash and turn around. Yeah. Yeah. It's gold in the Weimar Republic during hyperinflation. Look at that chart. It is a ping pong up into the right. By the way, 101. 382.

I did pull it up. We're currently at 101. 3802. All right. Fair enough. I can handle that. I can handle a lot of things. Bring back 58K. I'm ready.

I am hardened. I am ready. Oh, Lord. Oh, Lord. Selly just got excited somewhere. Okay. We are going to change gears. There is one of the most angering miscarriages of justice in recent memory, especially in light of the fact that we got Ross free. And then shit like this happens and just seems like it's,

one step forward, two steps back. We're going to talk about the samurai case and the conclusion of the samurai wallet case and what has happened to Keon Rodriguez, what his sentence was, and what happens next. So we're going to be back to chat about that in just a moment. If you are enjoying the conversation, please do drop a like on this video. Share it wherever you can as well. We love more people to join in. And if you're new to the channel, first off, welcome.

Make sure you hit subscribe so you can see everything that we're up to in the coming week. We'll let you know what's going on. But we'll be back in just one minute. Bitcoin Well is the best place to be buying and selling Bitcoin in Canada and the U.S. And now with Bitcoin Well Infinite, it's also the best place to be making large buys at their OTC desk of over $50,000. Their white glove service gives you fast transactions, no slippage, and the lowest fees. You can scan the QR code on the same. screen or simply head to Bitcoinwell.com slash BTC sessions to sign up today.

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Anything when it comes to New York and justice is always just a big bag of trash. And mayors apparently too. Oh my God. I feel like we need to at least touch on that, but in a moment, let's deal with Samurai here. Oh, my God. So, Keon Rodriguez,

sentenced to five years in prison and a $250,000 fine. After pleading guilty in July, the samurai wallet developer will surrender to law enforcement custody on December 19th. So, yeah, this is the co-developer of samurai wallet. Again, five-year sentence, $250,000 fine by a New York judge. Now, he pled guilty in July, which a lot of people were like, oh, God, like, like, I. I understand he probably did that, obviously, in hopes for leniency. Yep.

Right? Bring it into it. Yeah, you'd already been there for so long. Yeah, that's why you would do something like that. You do it for leniency, thinking that you will get a reduced sentence from the maximum. Dude got the maximum. Yeah. The maximum.

And so I'm going to pull up a, I'm going to pull up a thread here on this from, the rage. So this is a thread on kind of what took place in the courtroom. The judge did not seem particularly sympathetic to the financial privacy argument. Key takeaways from the sentencing. Earlier this year, Rodriguez and Samurai co-creator William Hill pled guilty to conspiracy to violate money transmission licensing requirements for building a non-custodial Bitcoin privacy wallet. again, non-custodial. They never took custody of anybody's money. Rodriguez doesn't identify the problem samurai sought to solve, the judge said.

There's no acknowledgement by Rodriguez of the criminal world for whom digital currency is a gift. There seems to be no recognition of the human suffering that was facilitated by the defendant. And there seems, in my opinion, from the judge to be no recognition of the privacy benefits that so many human rights defenders and dissidents have experienced across the globe because of samurai wallet either. Continuing on. The defendant engaged in very serious antisocial behavior. I don't see the letter to acknowledge this, coat said, the judge, in response to a clemency

letter filed by Rodriguez ahead of the sentencing. Quote, the letter misunderstands many things. Rodriguez identifies his motive as protecting financial privacy. That's fine. That's good. But I don't think that's what really is at stake here. Rodriguez pled guilty to a subsection of money transmitter licensing law, criminalizing the knowing transmission of illicit funds. Again, they did not transmit other people's money. They built an open source tool that allows people to coordinate transactions together. The defense requested a sentence of one year and one day, a pre-sentencing, recommendation from probation authorities recommended 42 months.

The subsection applied to Rodriguez is the same subsection that prosecutors used to convict tornado cash co-creator Roman Storm this August. At the time, many scholars argued that the subsection was misapplied due to the lack of licensing requirements for non-custodial services. Earlier this year, Assistant Attorney General Matthew Galeoti stated that the DOJ would no longer, again, would no longer bring prosecutions against non-custodial developers under the subsection applied to Rodriguez Hillen Storm. So basically saying like, we prosecuted these guys, we won't do that anymore. This was before the ruling today.

The defense highlighted ambiguities in the law itself citing confusion around whether licensing and regulatory requirements, such as the Bank Secrecy Act, applied to non-conspiracy. Stodial services. It also highlighted the need for services like Samurai Wallet to conceal otherwise public funds to protect Bitcoin users from extortion and kidnappings. 100% valid. In addition to the five-year sentence and 250K fine Rodriguez will be on supervised release for three years.

20% of his gross income will be garnished after release to pay the fine and $25 a month or up to 50% of any income earned in federal prison work programs. This is friggin insane. Nathan, I want to get your initial thoughts here on what I've just read. Over that 25%. Is that after taxes? Are they going to stop doing that too? Because it just seems like he's getting absolutely right through the coals.

We're going to have slave labor in prison and you can't even keep the fruits of that. And by the way, when you come out, we're going to tax you and then take 25% because just go fuck yourself, I guess, is the major picture there. It's completely counter to the pro kind of Bitcoin. that we've been getting from the the Trump administration. It's, I don't know why in particular, like they're really, we're really making an example out of him.

I feel like, it's always New York, man. It's always New York with these terrible judges, these terrible policies. And I, we need a cultural pushback against state overreach in terms of privacy. Like, since, particularly since,

um, uh, 9-11 with the Patriot Act and the TFSA, we've really normalized. I was like, well, I have nothing to hide kind of behavior. And we need to start trying to instill that culture of privacy by default, that no one has any business knowing what my transactions are by default, right? But when you have things like self-reporting for the CRA in Canada or the IRS in the US as well, too, man,

they really, they've really done a psychological number on people to think that you have to disclose everything or else you're a bad person. And that shit's just got to stop. Like, there should be public outrage about this. And I hope that we can keep pushing forward. And you know what? I hope if we could do something sooner, but if Trump or admin or Vance or anybody wants the Bitcoin or support again, this should be first and foremost on the radar. Okay, you got Ross out.

Great. You have fucked up here and we're going to need this or we're done. Yeah. Yeah. It's again, it's just completely contrary to the pandering that we've seen, right? Like it's just this flies in the face of everything. And of course, you should not trust any government, right? Like, this is not their MO that they are trustworthy.

And again, like, here's Trump. We're making the United States the Bitcoin superpower. Like, but what does that mean for the end user of Bitcoin? It means five-year prison sentences, right? Like, how is that better? So, like, while you can, you know, well, we can talk about, you know, and point, pontificate upon whether people are getting it. We shouldn't give them a blanket free pass because they said the word Bitcoin,

including like Treasury Secretary just what on Halloween. 17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down. Democrats could learn something from that. So like, I mean, yeah, funny, you know, but of course Bitcoin a decentralized peer-to-peer network and protocol is. still running 17 years later and a government can't fucking keep the doors open like it's not and it's

you know it's it's going to go back and forth like the same thing's going to happen on both sides of the aisle you know the point being is that it's it's we we want rules without rulers and that's what bitcoin is and so we we shouldn't be worshipping the ground that these people walk on uh we should be working towards making them unnecessary. And just as a last little cherry on top as if you don't hate the state enough, if you're on the other side of the pond,

here's France, pushing unrealized gains tax on Bitcoin. French MPs have voted to advance a proposal replacing France's property wealth tax with a broader levy on unproductive wealth. Holy Lord. This would include

assets like Bitcoin, jewelry, jewelry, jewelry, art, yachts, property, and other luxury items. So if you have stuff, we're going to perpetually need some of that stuff. It's no longer just like if you're transacting and doing things. It's like, hey, do you have things? We're going to need those. Like the reform, still subject to parliamentary review, would apply a flat 1% annual rate, even if the assets aren't sold. This is how they get you, though. this is how they get you one they're they're saying a a a wealth tax on unproductive wealth with a flat one percent and the average citizen goes one percent on rich people whatever this is how a blanket uh you know this is how a a blanket tax on every paycheck comes to fruition

the original tax in the u.s for like just on on your paycheck it was targeted at the top 1% of earners and i think it was it was low single digits yep it was a temporary measure the income tax was a temporary measure on just the most wealthy for a small percentage yeah and look at it today uh same like canada Canada there was a report the other day that the average Canadian and this I mean I know we still have the Canada sucks section coming up but I just it's just like I can't even wait

there's a report the other day the average Canadian citizen and I'm not talking like wealthy citizen I'm talking just like your kind of middle class Canadian citizen accounting for income tax and every other tax that you pay throughout your day and throughout your year there's a lot 48%

Yep. That's what they guess. So if you're high income and your income tax is half, which is what it would be, then you're paying into the 60, 60, maybe even 70 percentile of all of your income to taxes. Why exist? Why do a single fucking thing? Because at that point, three quarters of your year is, is working for somebody else. You're literally three quarters of a slave.

at that point. Like you're ever every ounce of your labor for nine months of a 12 month year is for somebody else. That's crazy. It's absolutely insane. And I have another point on that. We'll touch on me 48%. We're going to touch it on that again a bit as well too. But the one thing I want to point out here is this is basically property tax. It's the same shit that they do with your home, right? Where you never actually own it. You're going to have a 1% unproductive wealth tax. You're just you're just putting property tax now on what? My wife's engagement ring and my savings. Like, I gotta be careful with the YouTube here. If you remember, there was a time or a doctor

whose name began with G came up with a really nice way of dealing with this situation. And I imagine France being very politically active at times might be going that way again. Yeah, it is wild. So we're going to keep going down this road because we have plenty of rant to bestow upon you. And Nathan's favorite section is coming up.

We've got more. We've got plenty in the Canada's, a sucks region. We also have, you know, some more positive things in the Bitcoin custody realm. We've got some stuff in and around quantum. I know a lot of that tends to be a buzzword, but there is stuff to consider there and some very interesting stuff that's been going on this week. So anyways, we'll be back in just one minute. If you're enjoying the show, please do drop a like on the video. It does help a ton. If you're new to the channel, once again, welcome. We love having you here. Make sure you subscribe. So you see all.

of the awesome stuff that we have coming up over the next week. And we'll be back in a minute. Looking for a simple and secure way to manage your Bitcoin on mobile, Aqua Wallet has you covered. It's user-friendly and puts you in full control of your Bitcoin with secure self-custody. Aqua also supports lightning and liquid network, making fast, cheap Bitcoin payments and asset transfers easier than ever. Plus, it even supports stable coins giving you ultimate flexibility. Build on open source code, Aqua is transparent, trustworthy, and perfect for beginner and pros alike. Ready to upgrade your Bitcoin experience? Click the link in the show notes or scan the QR code on the screen now to download Aqua Wallet today.

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Take control of your Bitcoin today. Click the link in the show notes or scan the QR code on the screen to check out the Honey Badger Plan. All right. We are back in. We're going to talk about some, we're going to start with some Canada sucks news. Plenty to go on here. But look, let's take a peek here. Six months of negative GDP growth is a recession, folks. Yes, Canada is in recession. So not looking so hot. You can certainly tell from a lot of people here. And this is wild. I need to.

Mark Carney just dropped his budget. So Mark Carney, Prime Minister of Canada, newly elected. What was he doing beforehand, Ben? Do we remember his other jobs? I seem to recall him being a W.E.F. Stoge. But, you know, barring that actual employment, he was governor of the Bank of Canada and also was at the Bank. of England. So a career central banker.

I believe IMF as well too. It was either IMF or World Bank. Yeah, he was in the contention for that lead job at one point too. Great, dude. Yeah. What could go wrong? Let's have run a country. Oh my God. Oh my God. Okay. Let's take a look at this. Canada projects a 78.3 billion dollar deficit this year. The previous estimate was 42. billion. Keep selling your hard assets. Oh my God. Okay. Two X. Two X, Ben. Doubled. Doubled. Okay, we need to go back. We're going to jump in a time machine. We're going to go to late last year. Remember, we were still living under Justin Trudeau as prime minister. And so what was what was going to? Something very controversial happened back then. This is Christia Freeland, our former. finance minister, and she was set to reveal the budget for 2024. And she quit just hours before she was due to present the fall economic update to Parliament. The document showed the minority liberal government had run up the budget deficit to $61.9 billion,

much higher than predicted. our finance minister quit because of a deficit of $61.9 billion, which spurred basically an insurrection of Justin Trude. He basically was forced out of office. He resigned over this. We had a whole election. We replaced him with Mark Carney and the guy that we replaced Justin Trudeau, who was ousted because of a budget deficit of 61.9 billion has just delivered us in a calendar year a budget deficit of 78.3 billion dollars. What's going on? It's 25% above the budget that got Trudeau ousted from office. Oh, my God. What the fuck is going on?

Oh, but Ben, Trump, remember? Trump bad. We had to get an adult in the room, right? Oh, Trudeau's got to go. We got to get somebody with some financial experience to put things in order here. Oh, my God. It's like, I feel like I'm taking crazy pills. People ousted our prime minister because he was horrible with money.

Then they hired his replacement, who was the financial and economic advisor for Trudeau's entire term. And then he surpassed the horrible deficit that was projected by 25%. And regardless of the spending that they've already been doing, right? We're in a recession. So it doesn't even work. Oh, my God. Not to imagine.

Look, if a woman got pregnant when Trudeau got kicked out, she may not have even given birth yet. Like that we feel like that was so long ago. That wasn't even a year. We're talking like nine months maybe. This has been a short period of time. Everyone's completely forgotten it. Oh, and Ben, it gets even much worse. It gets worse.

The rumors, the fun rumors going on right now. Does we get worse because Trudeau's banging Katie Perry now? No, no, no. But by the way, I got to be, everyone should go search when they're done. First hit like, stay around, hang out the whole time. Go search for recent Trudeau clips. There's been some interviews from some of Trudeau's ex-lovers, we'll say, circulating on the internet.

There's tons of fun. Anyways, somebody may have actually been with Katie Perry and with Trudeau. And of course, he also mentioned Castro's son as well, too. So all those fun little conspiracy theories are getting at least revealed from the inside, which is fantastic. Oh, no, it gets so much worse. What do you think? But Ben, Ben, we're in democracy. It's a representative democracy, right?

It's the people. And so the people gave Carney a minority government. But it seems like, it seems like Carney is grabbing the reins of power without ever going back to election as well, too. We've had some conservatives in name only, and they're pretty bad being Canadian ones to begin with from, Nova Scotia cross the floor to join the Liberal Party. And I keep hearing little rumors, again, just rumors. We'll see what happens, that we might have conservatives crossing over to the liberal party to give Carney a majority government going forward so he can hang on for the next four years,

just like Trudeau did, and really ram this country into the ground for the benefit of Europe. Oh, my God. Well, listen to the episodes of Tom Luongo. Canada's being stripped mined by the Davos and London crowd. Is Alberta a sovereign nation yet? Oh my lord And people wonder why shit is so sideways One one in four Canadians is using the food bank now

Yes Unbelievable To your point that was the thing I wanted to bring up as well too Think about it they're taxing us at least at like half the rate on average It's a lot more for a lot of people today So half you're working half the year as a slave And they still can't balance a budget They're taking half of everything

and they still are going higher. Yeah. Yeah. It's the, the fix isn't taxing anybody, whether it be rich, middle class, or poor. The fix is stop spending fucking money.

Like, oh my God. Okay. Which, quick side note on that note, I'm not sure if it's like for sure at this point yet, but there was someone who tried to stop

the Alberta independent movement, trying to take the wind down. out of our sales, right? Say, hey, you guys can't do it. And they circulated a petition that said, Alberta should remain part of Canada, basically. Do you agree that Alberta should remain part of Canada. Now, funny enough, they submitted that thinking that would put an end to this one. But as the previous pointed out, well, no answer would imply that this is a referendum question. So the guy trying to stop it being a referendum question may have actually just triggered it. We might actually get that in 2026.

Oh, my God. He may have shot himself in the foot trying to prove a point. Amazing. Amazing. I love it. Well, we can, we can hope and dream. Nathan, let's, and if not, let's just build a, we'll build a bunker somewhere. All right. Okay, we need to, we need to also cover some of the interesting positive stuff that's going on. Right. There's a couple things here. So, first off, what I'm going to say is never leave your Bitcoin with a custodian.

Obviously, self-custy for the win, get yourself a cold card, and, you know, be a happy little Bitcoin self-sovereign holder. That said, Wall Street giant fidelity now lets his customers deposit and withdraw Bitcoin. Now, again, not a fan of custodians, but I am a fan of institutions that previously just held your Bitcoin exclusively and gave you exposure to it, allowing you to withdraw Bitcoin directly into your own custody. I think that's a good move. I am happy to see it. Yeah, I agree. I do want to touch on this one briefly because I think that this is what can. keeps them honest. So at least, there's going to be paper Bitcoin. That's just going to happen.

I guarantee people are going to get wrecked. There's going to be another exchange that blows up. There's going to be custodian that blows up. It's not a matter if. It's just a matter of when, right? Somebody will make a mistake or it's such a large honeypot someone will get in there. However, in kind creation, in kind of redemption will at least help to shorten that kind of paper Bitcoin buildup cycle or at least keep them a little more honest because now is a high risk of that too. And even it can, like at least in our stupid, you know, regulatory frame, it can have other purposes too. Like at the Canadian Bitcoin conference, I was talking to a wonderful lawyer. He was telling me that like, if you donate your stocks to a charitable organization, you get to have that right off and it's all good.

You can go ahead and do that. If you donate Bitcoin, you have to pay the capital gains tax on it, which is stupid. But however, with something like this, and it's just, again, it's a crappy system all around. If you want to donate your Bitcoin to a charitable organization, you can take them, to an in-kind creation, turn them into ETF. You could donate that without paying capital gains on it. And then maybe they could do the in-kind redemption on the other side. So it's an improvement.

I expect we're going to see this as a norm throughout the industry. And hopefully that keeps them at least a little more honest. Yeah, 100%. 100%. Well, again, a move in the right direction. Happy to see it. Now, I do want to share an article that was dropped on by the Human Rights Foundation, actually. And it's talking about quantum and Bitcoin.

A lot of people have discussed this before. Some people are very dismissive. Some people very worried. and a bunch of people probably somewhere in the middle or just don't know. And so this kind of examines what some of the risks are. And so they've got some key takeaways here. One is there's 1.72 million Bitcoin around $188 billion worth in very early address types, thought to be potentially dormant or lost.

And it could be highly vulnerable to long-range quantum attacks, meaning there's effectively a bounty out there where people could gain access to this Bitcoin. if quantum gets to a point where it can begin to break certain things. An additional 4.49 million Bitcoin are vulnerable to long-range quantum attacks, but owners would be able to secure them by moving them to quantum secure address types. So changing the address types in the wallet could make them secure. A short-range quantum attacks could enable theft of Bitcoin during transactions while public keys are exposed. So public keys are exposed when you spend from a wallet.

If it's a brand new wallet and you're depositing to addresses, the public key is not revealed. But when you spend out of that wallet, the public key is revealed and then the remaining funds are potentially at risk from a quantum threat. Researchers are working to solve for both short and long range attack risk, but solutions could take years to implement. One proposed solution is to upgrade Bitcoin to include a. quantum secure address type, which would protect anyone able to move their coins. Another proposal addresses what to do with the coins that no one can or is willing to move.

Do you want to burn them so that thieves cannot plunder them, but that would sacrifice Bitcoin neutrality in the process. I'm not a fan of the idea of burning them. I have a point on that one. I'll get to you. Yeah. Yeah. And I'll do the last point here.

Quantum resistant transactions would be significantly larger in data size than existing ones. This could dramatically increase the size of the Bitcoin blockchain, which is already facing scaling challenges. And we've seen plenty of back and forth about additional data on the Bitcoin chain. I think if it's securing the monetary transactions, that's an entirely different thing than some of the other crap we've seen. But Nathan, I'll let you speak. No, there's a few things I want to touch on. One, I don't think this threat is as looming as some people do. For me, I put it in the category of like Iran's going to have nukes any day now. Quantum's always coming any day now.

And so will it at some point? Possibly. I mean, getting, like, my understanding is very limited, but getting stable that level that you need of qubits. Logical qubits is not, it's not easy. And I don't think it's going to be a simple fix. But it could come at some point. One, it's easy enough that I think we'll get a new address type.

I think we can get consensus if the threat is real to get a new address type and move on to it. And using up the block space, I'm kind of fine with that as well, too. I don't think Bitcoin has an immediate scaling issue. I'm still sending transactions on chain for one cent per V byte. Blocks are not full. Lightning's great. Liquid's great, Arc is great. People are continuing to work on it.

We got cash to an e-cash as well. And like sad state, I hope it doesn't last forever. Like away your E-TFs are kind of another layered solution as well too, because I think that's where a lot of the on-chain traffic is gone. So I don't have an immediate concern about scaling. It will to it like the 8 billion plus people that's going to need more, but I think we have more time. I think we have more time on upgrading the address type.

And then with regards to, because I've heard people talk about this, with regards to the stuff that can't be moves, the Toshi's coins, lost coins, all these. these things as well. For me, the very simplistic philosophical position is you do nothing. You warn them and you let them know, but you do nothing. And I very much treat it like, I'm trying to think of it from an Austrian kind of property rights perspective. It's like a boat that had gold that sunk on the bottom of the ocean. If somebody goes and gets it, nothing was stolen, right? We're not, we're not freezing addresses. We're not censoring transactions. If treasure hunters

using quantum go and get lost Bitcoin, all right. It's just back in circulation. Hey, it'll be on sale. that it'll nuke from a million to 500,000 and you can go ahead and buy some more. Yeah, 100%. I think I'm on board with that thinking, like if that's kind of the reality of where this ends up going. I would far rather somebody, you know, find the hidden treasure than us to act in a way that makes existing Bitcoin and existing addresses no longer spendable. I think that's a much more dangerous thing to do. I agree. As kind of like a quick heuristic, I just want to jam this in there as well too.

I'm not making policy or consensus changes based on what people's perception of what will happen to the Fiat price. I don't care, right? If it's like, yeah, it might nuke, right? People are going to panic. A lot more could come on board. Who cares? At some point, we're not going to be measuring it in Fiat anymore anyways.

I'm not going to lock up coins at the risk of it like, oh, it'll sell off. I don't care. That's not, it's completely antithetical to the mission that we're doing. 100%. 100%. And again, as it says in here and as a lot of people have been talking about, you know, at worst, we're kind of maybe looking at like maybe like a five to 10, probably like a decade before this starts to be like, ooh, like maybe we're getting close. And so lots of times to prepare.

But it is important to start talking about it now. What are the potential solutions, so and so forth? and what's the most feasible one that gets everybody safe as quick as possible with as little effort as possible? That's kind of the important part. So now, just in the realm of HRF, because they wrote this article, I also wanted to give a shout out to them. Because earlier today, I had a wonderful morning. I spent my morning on a webinar. We often do webinars for human rights activists.

And this group was across Africa. And we were helping human rights defenders and political dissidents from around Africa download their first Bitcoin wallets and do their first transactions, seeing censorship-resistant money in action for the first time. And it's so cool seeing like we have a full webinar. We're on like a big video call and everything. and the chat is going and I'm seeing people being like, oh my God, I didn't think this would be so easy. Like, holy crap. Like I just, I downloaded this thing.

I hit a button and I received like a couple dollars from the other side. Like I'm sending $2 to people in places like Tanzania in half a second like from Canada. Crazy. And yeah, it's really cool. one of my favorite things about doing this stuff, not only arming people most in need of censorship-resistant money with the tools, but also a little selfishly,

I get to live vicariously through them and see them have those aha moments again and I get to remember, I remember what that was like, that first moment where I was like, this changes everything. And that is a moment to behold. So, you know, find those moments where you can.

Find the people that are interested, and watch them have their eyes light up the first time they see it. Because the opportunity is not always going to be there. Eventually, it'll be a common thing for people to just be like trying to amaze somebody with a smartphone today. It's like, well, everybody's got one of these. Eventually, everybody will know that you can send money in a censorship-resistant way around the globe. A couple other things here. In a week, Square merchants, it will turn on the ability to accept Bitcoin via lightning.

Super awesome. Square is such a widely used point-of-sale terminal out there. And yeah, I'm super excited to see this roll out. Now, of course, the merchants themselves have to decide if they want to turn it on. But, you know, if you're a person that has previously gone into businesses, And you're one of those Bitcoin. Hey, do you accept Bitcoin? Do you accept Bitcoin?

Well, now, before there was kind of like there's friction, right? Oh, we've got a point of sale experience here. What we'd have to have a totally secondary thing. Now, if you walk into a business that has Square, oh, you have Square. You guys accept Bitcoin then? Oh, you don't? Oh, okay. Yeah, so Square just rolled it out.

I think it's super awesome. I use Bitcoin all the time. You guys should turn it on. Like, it doesn't cost any. thing. Like that, that is such an easier pitch than you're, you need to learn all of this crap for me to pick you. That's, that's a harder pitch. But yeah, I'm very happy to see this. I think it's great. How about you, Nathan? Oh, yes. And as I confirmed for Carla last night in the chat, they're doing it for no fees until 2027. Oh, nice. Nice. We saw, we saw you in there digging.

Never, Nathan never sleeps. He's doing research for guests on why are we? bullish. Feeding them info through the chat, through the YouTube chat. 100%. Another thing I wanted to highlight this, interesting, not our keys, not our business. Going back to privacy, right? I like to see this. Bitkey.

By implementing chain code delegation, Bitkey becomes the first private, collaborative multi-sig wallet. What you do with your keys is your business. Simplifying self-custody is ours. So the way it works is typically in a multi-sig setup, anybody, that's a key holder and has the config file sees the balance of what's happening. And when you need their key to approve a transaction as a collaborative transaction, they see what they're signing. Well, chain code delegation actually blinds that to them. So all they see is your user wants to do a transaction and it's just a yes or no. And so by default, their server, yes, based on the restrictions

that you've placed upon it, but they don't, they don't see a balance. They don't see what they're signing, nothing. And that's really cool. I think that's a fantastic implementation. I can't wait to see it to roll out to multiple other options out there. I think you're going to see it everywhere. I think because it goes back to even like, I remember NVK talking about this. Like they don't want to have to collect customer information because there's data that

they have to secure and it's another honeypot and another risk, right? And so if you're collaborative multi-sig company, right, why not switch to this? Then you don't have to worry about someone getting your customer's data, learning their funds, their ex-pub information, learning their addresses, right? It's a de-risk for the company and for the user. And that's great. That's why privacy is great, guys.

Let's samurai guys out. Jesus Christ. Yeah. You know who I would not be surprised to see jump on this relatively quickly is the Nunchuk guys. Oh, 100%. Hugo's got to be working on it. Yeah.

Yeah. They're a legendary. I love the Nunchuk guys. And furthermore, like, their response to the Canadian government requesting information on the trucker protest was effectively go pound sand, even if we had customer information, we wouldn't give it up. But we don't, we can't have it by design.

We cannot and will not give up user funds. My favorite part of the letter they sent back was when the Canadian dollar fails. Do you have it? I have it. Dear Ontario Superior Court of Justice, Nuncheck is a self-custodial collaborative multi-sig Bitcoin wallet. We are a software provider and not a custodial financial intermediary. Our software is free to use and allows people to eliminate single points of failure and store Bitcoin in the safest way possible while preserving privacy. We do not collect any user identification information beyond email address.

We do not hold any keys. Therefore, we cannot freeze our user's assets. We cannot prevent them from being moved. And we do not have knowledge of the existence and nature and value and location of users' assets. This is by design. Please look up how self-custody and private keys work. When the Canadian dollar becomes worthless, we'll be here to serve you too. Sincerely the Nunchuk team.

If you ever needed a reason to get behind a team building a wallet, there it is. Manukuk guys, absolute legends, love them. Now, in the same vein, we're touching on Bitkey, obviously Bitkey, a part of Block, and the prior piece there on Square, Jack Dorsey, all of that. But just one more thing down the Jack Dorsey rabbit hole. He's part of a... Yeah, exactly. He released something called BitChat recently, and I did a video on it.

This is effectively, like, allows for messaging in situations where the internet gets shut down. It uses Bluetooth to establish what's known as a mesh network with any nearby devices. So, like, if, say, somebody is... is 50 meters away with me with their Bluetooth turned on and bit chat, I would see them pop in. But then that extends my reach by another 50 meters to the next person and the next person. You create, basically you create your own localized internet amongst people on the service. There's a global chat where anybody in range will be able to send messages that everybody can see. You can peer to peer just single messages to individual users and you can create your own

subchats for specific uses. I made this in the context of protests under tyrannical governments when they shut off the internet so that protesters can't coordinate. So I made that and I released it. I think I don't know, 9,000 people or so have watched it so far. But actually, I don't even think I mentioned the other major use case, and that's natural disasters. And something really cool happened just yesterday. yesterday of the day before I got a message from awesome dude, Bitcoiner, developer.

He's from Jamaica. His name's Dredd. And he shot me a message on Signal. And he was like, he's like, yo man, just so you know, you just hit the group chat in Jamaica with everybody. Everybody was trying to figure out how to use BitChat before the hurricane hits. Just wanted you to know. And he sent a screenshot of people. being like, oh, this guy made a video on BitChat, so everybody's like using it to, so super cool.

Again, like if you're just chilling at home, it's not going to be super useful for you. But it's one of those things like if you can kind of keep it and have it ready for when you need it, it's like having a backup generator. You're not using it every day. But when you need it, you're happy you already have it. So I would give BitChat a download and just kind of keep it in the background. Just keep it as an app on your phone. you never know when you might need it super cool 100% it's wonderful to see that's the stuff that we're

here for that's fantastic to see yeah yeah oh it was a nice match just to get um and then one last thing uh next week very excited to drop this so you know i've been i've been making videos on youtube with bitcoin for nine and a half years now um and i've tested as you can imagine just about every damn thing and i've kind of settled into a very specific flow i I obviously live on Bitcoin, so there's certain nuances to that. But I just made a video. It'll be out next Monday. And it is exactly what I use.

It is step by step. How do I accept Bitcoin? What happens next? How do I automate everything? So it's basically set it and forget it so that it's private and secure. And it goes through every piece of the puzzle, every tool, how it all links together. and how I can just say, here's an invoice and somebody pays me. And as soon as they pay me, it instantly coin joins, instantly goes to cold storage.

And then what do I do if I want to spend a simple movement that gives me two other, if not three other layers of privacy before I go and use it day to day. So if you're not subscribed, there's a reason to subscribe because that'll be out next Monday and just hit a little notification bell so that you know when it comes out. Other than that, Nathan, I mean, I'm sure you've got plenty of awesome tools that you use. Have you settled into something solid yet, or are you, like, constantly playing around and iterating? More or less, more than that. I imagine we have a lot of crossover, and I'm excited to see this session's personal recipe for self-sovereignty.

That'll be coming out next Monday here. But there's a lot of tools that, like, I love my cold card. I'm using wasabi. I love Aqua, although there is a new contender. I've got to spend a little more time with Bull app because I've used that. a few times even for like paying credit card bills and it's just unbelievably smooth as butter. So I will probably be making adjustments to my daily setup here,

but those are the ones that I'm usually quite stigrant. And of course, for me, the golden go-to on desktop is always Sparrow. I love Sparrow wallet. I'm just so happy and comfortable there. 100%. Yep, I would echo that, absolutely. And a quick question in the chat I see, is BitChat a hot wallet as well?

Can it do payments? The answer is right now, no. But one of the individuals working on BitChat, And actually he made, I neglected to mention in the video because I didn't know, but he actually coded up the entire Android version of the app. His name is Calais. And he's integrating cashew payments, which is Bitcoin using eCash. So like encrypted private Bitcoin layer two, basically.

So that is a thing that will be implemented over time. Not yet, but it's there. It's capable and it will be rolled out. So yes, it'll be decentralized, permissionless chat and money. And for context, you can go from eCash to Lightning pretty easy. 100%. Yeah, exactly. So with that, everybody that's here, thank you guys so much for watching.

We always appreciate it. Make sure you drop a like on the video if you've enjoyed the episode. Also, if you're new to the channel, stick around for just a second because a lot of people come to us through other means. They're curious about the general economy or maybe they came in through something like micro strategy or the ETFs. And you get into kind of like the mainstream news stories and then you start listening to us here. We talk a lot about self-custody. We talk a lot about being self-sovereign.

And that's kind of the whole point of Bitcoin. And if you haven't done it yet, if you haven't learned how to take control of your own Bitcoin, I really, really encourage you to do so. There is a lot of resources. And actually, this channel was started with the premise of creating. step-by-step tutorials explaining exactly how to do that. So what you're seeing on the screen right now, the QR code will take you to a page that has step-by-step tutorials on literally every step of the way, starting from beginner all the way to advance.

If you start there and you just start picking away at the occasional video, you will level up like nothing else. So please do take the steps. Don't get that analysis, paralysis. Just start and start learning. You don't have to do it with a lot. You can play around like 25 or 50 bucks and just kind of learn the tools. Super, super useful.

And I'm going to play a clip at the end of the video here that, again, we'll make the case. But with that, thank you guys for being here. I'm Ben. This is Nathan. Keep stacking stats, but also keep stacking those skills. This was your weekly session. We'll see you guys soon. Hey, you.

Yes, you watching the Bitcoin price movements and the latest. exciting news. It's awesome to stay informed, but the real power of Bitcoin comes from taking control. Don't just watch, take action. Head over to btcsessions.ca slash learn for free step-by-step tutorials that guide you through every major skill you need to know, plus full video playlist for deeper dives on any topic you like. And if you're ready for the ultimate fast track, scroll to the bottom and check out Bitcoin Mentor.com. premium one-on-one experience with my team of Bitcoin experts to ensure you get it right the first time. Don't wait. Secure your Bitcoin future today. Hit the link in the show notes or scan the QR code

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