BTC Sessions - TELETUBBIES IN BITCOIN! Laser-Eyed And Bullish AF ep163

Starting point is 00:00:26 Wasabi wallet and fairly private. What's going on, everybody? Welcome to the show. Twitter and news in general is a minefield today because it is April Fool's Day. Lots of fun stuff going on. It's been a little difficult to navigate. Twitter is basically a dumpster fire right now. But I do have some real news for you guys today.

Starting point is 00:00:56 We're going to cover all kinds of fun stuff. including the Telatubbies, we'll talk about that too in a moment. As always, this is live. So a quick disclaimer from my good friend, Bill. We'll do it live. We'll do it live. Do it live. I'll write it and we'll do it live.

Starting point is 00:01:19 The thing sucks. Thank you all for being here. Of course, smash that like button. Give this a share so we can get even more people in here. I am Ben with the BTC sessions, and this is your day of session. Before we dive in, let's check out where we are in the market. I'm pulling up the Bitbo.io dashboard. We are sitting at $58,879, somewhere around there, dollars per coin.

Starting point is 00:02:04 For one U.S. dollar, you can pick up 1,698 sats. I'm wondering when we're going to bust through that 60K mark decisively, not just like peek up a little bit and then come back down. It feels like there's been a good build for the last few weeks. If we zoom out on this seven day here, again, it's been kind of steady up. If we go out to the one month and we can kind of see where we peaked out between 61 and 62K, that was not that long ago. It is April 1st, and this was back.

Starting point is 00:02:40 about two, a bit over two weeks ago. This was March 13th when we hit that all time high. So, but, you know, as is everything with Bitcoin, it seems like an eternity when really it's moving quite quickly.

Starting point is 00:02:54 So when in doubt, zoom out, the year to date looks beautiful. If you go back a year, it's insane. If you go in the five year, then it's ridiculous. So let's keep on going here.

Starting point is 00:03:06 Of course, shout to two sponsors of the show, ledden.a. where you can use your Bitcoin for a variety of different services. These guys have saved my butt on a couple occasions, particularly with Bitcoin-backed loans. Because when I need dollars, when I'm in a pinch and I don't want to sell my Bitcoin because that's taxable and I'm worried about having a buyback at a higher price,

Starting point is 00:03:25 I can deposit here, get dollars to my bank account. And when I pay that back, I get back the same amount of Bitcoin, which is the important number for me. Of course, they also have their Bitcoin and USDC savings with interest rates of up to 12.5% annually paid monthly and their B2X offering uses the same loan mechanism to instantly buy more Bitcoin if you're feeling mega bullish. So check them out. Links below.

Starting point is 00:03:48 If you click that link and opt to get a loan, they will give you $25 for free into your savings. Up next, the COBOL, one of my favorite hardware wallets. I love this thing. Fully air-gapped, meaning you never plug it into anything connected to the internet. It's all offline done via QR code. That keeps the keys to your money safe and offline. course, it's got a secure element. It's got Bitcoin-only firmware once you install it. And a lot of other fun things. I'm using the pro with the fingerprint scanner and the rechargeable

Starting point is 00:04:19 battery. And in particular, I like using it with multi-sig alongside my cold cards. So be sure to check them out. Links below. Of course, I do live on Bitcoin. One of the ways that helps me do this is bit refill, super easy site to navigate through. They've got every possible gift card you can imagine and just tons of countries that you can get these gift cards in. They accept Bitcoin main chain and via the Lightning Network for those cheap and fast transactions. And a little bonus here when you're shopping, you get Sats back. So check them out.

Starting point is 00:04:50 Bit refill links below. And finally, guys, please be careful backing up your wallets, whether it be a software wallet, a hardware wallet, whatever you're dealing with, get it in something secure. Paper is not always the best option because you're prone to maybe throw it out or get water on it or if there's a fire, that thing is just gone. So something in steel is ideal. Something like the Bill Fottle over

Starting point is 00:05:14 on PrivacyPros.I.O. Check them out. Links are down below. They've got some other fun stuff too, Faraday bags to block out radio signals and everything. If you're a tinfoil hat wear like myself, I have a couple of those things kicking around. Anyways, let's get into the news. We're going to start with

Starting point is 00:05:30 kind of a bigger one. Goldman Sacks is close to offering Bitcoin and other digital assets to its wealth management clients. So I'm just going to read you the Cliffs Notes here. The bank aims to begin offering investments in its emerging asset class in the emerging asset class in the second quarter, according to Mary Rich, who was recently named Global Head of Digital Assets for Goldman's Private Wealth Management Division.

Starting point is 00:06:00 Goldman is looking at ultimately offering a full spectrum of investments in Bitcoin and digital assets, quote, whether that's through physical Bitcoin, derivatives, or traditional investment vehicles, she said. Some Goldman clients say they feel like we're sitting at the dawn of a new internet in some ways and are looking for ways to participate in the space. And that internet comment, I think is pretty spot on. Just as the internet democratized and made accessible communications effectively and the ability of anybody to speak and create content. This democratizes money. It allows people to have free access to money globally and kind of the walled gardens of

Starting point is 00:06:52 the past are being torn down. So yeah, I definitely agree with the sentiment of some of their clients that are demanding access to this stuff. Funny enough, though, their clients are seeing the value there, but they're not utilizing it in that they're going through like an investment product that holds the Bitcoin for them instead of actually participating in the network. So I don't know. What do you say? Some people will be said in their ways. At least they're looking to get exposure.

Starting point is 00:07:30 Anyways. And then another big name next to Goldman, even bigger. Some might say the telotubbies. The telotubbies are into Bitcoin. So they tweeted out yesterday. Uh-oh. What could the telotubbies possibly be hiding from us? Stay tuned for something big this week. Hashtag Bitcoin. And they have the telotubbies here all laser-eyed up, ready to go. which spawned some hilarious comments and memes. I like, I can't remember who did these, but buy the dipsy,

Starting point is 00:08:10 have fun staying Po. It's going up forever, Lala. There was some great ones there. But of course, I mean, you guys know, obviously.

Starting point is 00:08:21 Well, I shouldn't say you guys know because there were some comments, enraged comments on this. They, the Telatobbies, launch new cryptocurrency entitled Tubbycoin. I'm just going to read this paragraph and then we'll get to the obvious.

Starting point is 00:08:37 The Telatubbies announced today that in response to the overwhelming global demand for cryptocurrencies, they have launched Tubbycoin, an innovative new cryptocurrency employing groundbreaking power of HugTech developed by Wild Brain Labs, a secure research facility in the Coachella Valley. tubby coin is a new virtual system that employs cutting edge cryptography I don't know if they were going for cryptography there but to convey the inherent value of big hugs in the form of exchangeable tubby coin big hugs tokens featuring tinky winky la la dipsey and poe and they've got a this ridiculous anyways you know this is coming obviously you scroll to the bottom and it was just a setup for April Fool's Day, of course.

Starting point is 00:09:30 However, they are raising some money for the kids help home. So that's good. Anyways, that's the only April Fool's thing I'm going to touch on today. I think I'm relatively certain that the rest of the stuff I've accumulated here throughout the week is legit news and not bullshit. So let's hope for that. One for the comment on this, I really like the documenting Bitcoin Twitter handle because it tweeted out,

Starting point is 00:09:57 Goldman Sachs, the 150-year-old respected banking institution, finally announced an embrace of Bitcoin only to get less engagement than Telitubbies with laser eyes. What a time to be alive.

Starting point is 00:10:12 I love that Preston Pish commented afterwards, as it should be. Let's move on here. Black Rock. Black Rock has begun trading Bitcoin futures. The number is,

Starting point is 00:10:25 so lappably low of what they have their hands on, though. Like, it's hilarious. Anyways, investment giant BlackRock has indeed, quote, started to dabble. I'd say that's an overstatement in the Bitcoin market. According to regulatory filings published Wednesday, the asset manager held $360,000 in CME Bitcoin Futures contracts earlier this year. The holdings represent a whopping 0.0.0.0.000. 014% of Black Rock's massive global allocation fund on a reporting day of January 31st.

Starting point is 00:11:04 It was not immediately clear. BlackRock still holds any futures contracts. The original batch appears to have expired on March 26th. I mean, they're starting. This was their initial dabble. It's funny that it just, the timing of it fell in. So it was such a measly amount. but I think when we get numbers for next quarter that may have increased significantly

Starting point is 00:11:33 because yeah, they're probably, that's probably the initial, hey, we'll just play around and see how this stuff works, is my guess. Anyways, let's keep going here. From Reuters here, exclusive visa moves to allow payment settlements using cryptocurrency. Don't get excited.

Starting point is 00:11:48 This is not Bitcoin, but I found it relevant somewhat. Visa Inc. said on Monday, it will allow the use of cryptocurrency USD coin or USDC to settle transactions on its payment network. The latest sign of growing acceptance

Starting point is 00:12:03 of digital currencies by the mainstream financial industry. The company told Reuters, it had launched the pilot program with payment and crypto platform crypto.com. I did not see that partnership coming anyways.

Starting point is 00:12:17 And plans to offer the option to more partners later this year. Bitcoin, the most popular, I'm not going to read that. Okay, let's scroll down to the other important bit. So basically down here at the end of the article, they say that normally if a customer chooses to use a crypto.com visa card to pay for something, the digital currency held in the wallet, it needs to be converted to, you know, a regular fiat currency in a bank somewhere first before making the purchase. Now, the wallet will deposit traditional fiat currency in a bank account to be wired to visa at the end of the day and settle transactions, adding cost and complexity for businesses.

Starting point is 00:13:01 So the latest step is just that visa, it strips out the need to convert that USDC to traditional like fiat currency in a bank account and wire it. It just settles it outright with the stable coin. So really, in the end here, how does this matter for somebody using these cards? It really doesn't. Maybe they might see a reduction in fees on the user side. They don't allude to that here whatsoever. Really, it's an efficiency gain for Visa and Crypto.com. Yeah.

Starting point is 00:13:40 So is this a groundbreaking in any way? I mean, for them, it's great because their settlement times. have been reduced, but for the end user, for peer-to-peer individuals that are just using this as a card, no, no. The answer is no. Spoiler alert, no. Let's keep going. PayPal launches crypto checkout service. PayPal has started allowing U.S. customers to use their cryptocurrency holdings to pay at millions of its online merchants globally. Customers who hold Bitcoin and a bunch of other shitcoins in PayPal digital wallets, will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.

Starting point is 00:14:22 The service will it be available at all of its 29 million merchants in the coming months, the company said. So I will say here at least when no coiners ask you, what can you buy with Bitcoin? And you have to say, well, this place accepts it, this accepts it. You can buy. You can find ways nowadays most places you can. figure a way to make purchases. Well, now it's a little bit more direct.

Starting point is 00:14:50 You can just use it. And so now the answer to a no-corner saying, well, what can you buy with Bitcoin? Just everything. All of the things. There you go. I hope you're happy. Keep going. BNY Mellon report takes on Bitcoin valuation.

Starting point is 00:15:06 So the Bank of New York Mellon issued a report over the weekend comparing Bitcoin to gold and highlighting the stock to flow ratio in an attempt to a evaluate the digital assets price and role in the real economy. Quote, in today's environment where the intrinsic value of fiat currencies is increasingly being questioned, it is important to consider the value of alternative currencies such as Bitcoin, the report said. Ultimately, Bitcoin valuation will likely be a combination of several models and be constantly evolving, especially as it gains mainstream acceptance. BNY Mellon, a $41 trillion asset bank, $41 trillion asset bank,

Starting point is 00:15:50 and the oldest bank in the U.S. has said that digital assets are becoming part of the mainstream and that it plans to be a key player in the new financial world. Last month, it revealed it would soon custody Bitcoin and other digital assets for asset managers and the same way it handles their other more traditional holding. This month, it invested in fireblocks, the Israeli digital assets infrastructure startup, whose technology is underpinning BNY Mellon's custody service. It's interesting seeing these banks kind of dive into this space because I think early on, even on the part of Bitcoiners, it wasn't quite sure.

Starting point is 00:16:34 The banking institutions and Bitcoiners themselves in some cases didn't quite understand how this game theory was going to play out and who like the quote unquote final boss is early on bitcoiners were like like the blanket fuck banks kind of thing and to an extent still yes um and banks were kind of like oh no bitcoin is going to ruin us if it succeeds so we need to get that shit out of here and and clamp down on it but really in the end it's the central banks that Bitcoiners and commercial banks are both kind of working against. The reason being is that Bitcoiners, they want sound money that they can do,

Starting point is 00:17:23 that they can use as they please. Central banks do not want that. They want control, they want to be able to pull those levers and push those buttons. And when Bitcoiners move to Bitcoin, while that's a problem, it's also the banks, by trying to circumvent,

Starting point is 00:17:42 that by trying to prevent Bitcoin from proliferating, they're just basically trying to pump out their own central bank digital currencies. But who they cut out in the process of doing that is commercial banks, because then you would have a, more than likely, you would have a direct account with your central bank and a digital wallet with them mitigating or getting rid of the need in many cases for a commercial bank. So how do commercial banks respond to this? by offering something a central bank never would, which is the ability to custody something like Bitcoin.

Starting point is 00:18:18 So the game theory behind all of this is playing out just, just beautifully, like Chef's Kiss beautiful. I'm super happy to see how this is all working out. Like, yeah, will there be some perversion of custodied, re-apothecated Bitcoin through some of these institutions? absolutely, of course.

Starting point is 00:18:42 Banker's going to bank more or less. But the difference is if they try to pull that show with Bitcoin and they don't play their cards right and they over-leverage themselves, there's actual consequence to those actions. So it's kind of like the best of both worlds. Bitcoiners are going to get a sound money. And then they're going to actually have commercial banks that are held accountable because they can't be bailed out in Bitcoin terms.

Starting point is 00:19:05 It's too good. It's too good. I love it. Let's keep going. this from BTC pay server so BTC pay if you're unfamiliar it's a way to be an online merchant except Bitcoin through your store without having to price specifically in Bitcoin because obviously like the you want some semblance of like a stable price and Bitcoin is still in the process of being monetized and so it's still volatile right so many want to price their products in

Starting point is 00:19:34 dollars but receive Bitcoin as payment and then hold onto that Bitcoin. BTC pay allows you to do that without a trusted third party. It just will pull like a price from somewhere and it will readjust your store without any third party in between and go directly into your personal wallet. So BTC pay basically open source Bitcoin software to be a merchant. Well, recently we talked about Tesla accepting Bitcoin for their cars. And that just rolled out. And a lot of people were wondering, well, how are they going about doing that? It's pretty evident now that they're using BTC pay server, which is fantastic that they're not going through another, like a trusted security hole of a third party.

Starting point is 00:20:21 They're just accepting the Bitcoin outright, also running their own nodes and keeping the Bitcoin in treasury, which is amazing. But this from BTC pay, they released some updates, some security updates. And then they also gave a shout out. We want to thank Tesla for submitting. the disclosure that led to these fixes and helping us with remediation. Thank you for contributing to the community and helping keep our users safe. Tesla is not only hosting its own BTC pay server, which is more or less confirmed now, and accepting Bitcoin, running their own nodes, holding the Bitcoin and Treasury,

Starting point is 00:20:57 they're also contributing to open source software for the Bitcoin ecosystem. So, Mr. Musk, I salute you, even though you have some bad, Dogecoin tweets. Let's keep going. Morning Brew, I don't know how many of you follow Morning Brew. Anyways, if you don't know what they are, basically business news from Wall Street to Silicon Valley, Daily, sign up, blah, blah, blah. They've got a newsletter, everything. I just found this funny because it's something I follow.

Starting point is 00:21:22 They said on their Twitter, the time has come. We have finally added Bitcoin to our market section, replacing the price of gold. You know, Peter Schiff had an aneurysm when everybody retweeted. this to them. Anyways, they go on, here's why we made the switch. Simply put, its price is noteworthy. Bitcoin as the flagship cryptocurrency has grown tremendously as an asset over the last decade earning wider acceptance among Fortune 500 companies, institutional financial firms, and individual investors alike. We think our market section will be more relevant with Bitcoin in it. By the way, this is not necessarily an endorsement of Bitcoin. It's simply recognizing

Starting point is 00:22:05 that finance, just like anything else, is changing, and our newsletter should reflect that. We also change the look of our market section. From a graphics point of view, we got rid of some of the unnecessary white space, blah, blah, so on and so forth. You may have noticed that we removed oil and gold. We replaced them with, one, Bitcoin, and two, a flex spot, which allows us to showcase any asset, whether it's a tech stock or doge coin. Oh, God. that made a notable move the day before.

Starting point is 00:22:36 All these changes were made to make the market data you read in the morning, more relevant, more timely, and more useful. Yeah. So anyways, I just, I think you're going to see more of this where there's more impetus on Bitcoin's price movements than gold. You know, gold has not been, is actually down for the year. I haven't checked in a while, 1600 or something. Last I saw it was down like 10.

Starting point is 00:23:03 for the year. Yeah, definitely not doing so well in an environment that you would think would have it going up. Anyways, let's keep going. Regulatory news from my home and native land of Canada.

Starting point is 00:23:21 This is relevant because I think we're going to see some more of this globally. There's good and bad things about it. I mean, again, regulators are going to do the thing, obviously, whether or not long-term it's effective, a whole other story. But anyways, there is a three-week countdown for Canadian digital asset trading platforms to start getting registered under securities laws. So there's two ways that these kind of rules, and these have been coming for a while, but it's just kind of like a reminder, hey, you guys got a few weeks to get your shit together.

Starting point is 00:24:00 So there's two things that here would require a firm to register as a security provider. One would be actually facilitating trades involving crypto assets, quote, that may be considered actual securities. And so there's a lot that are, that do follow under that realm where there's basically, first of all, somebody that you can actually hold to tasks like a team and an expectation of return based on the work of that team. And so that's that's a lot of them. And so on a lot of Canadian exchanges, you know, you'll see Bitcoin because it doesn't fall under that because there's basically there's nobody's sue. But secondly, you'll see a lot of them only hold a few other coins, like not that many.

Starting point is 00:24:58 And they're very careful about what they add. It used to be a bit of a free-for-all, but definitely it's not like hopping on Binance overseas or something. But if you're hosting any of those coins, guess what? You've got to be a legal securities dealer. Secondly, it may apply even to companies just with Bitcoin if you custody that Bitcoin for any period of time on behalf of the user. So I'll just try and find the exact spot here. Custodial platforms that facilitate trading Bitcoin and other crypto assets that are commodities and not securities or derivatives may be subject to securities legislation because the customer's contractual right to the asset is a security or derivative as discussed in this other update from. By the way, this is from osler.com.

Starting point is 00:25:56 In other words, even cryptocurrency exchanges, I guess you would say, that trade Bitcoin is subject to this Canadian securities law if they provide custody and do not make immediate delivery of digital assets to clients. So basically every exchange outside of like bull Bitcoin and ATM providers like Bitcoin well would fall under this. Unless you have your own Bitcoin wallet and the moment with dollars from their website or through their machine, you hit buy, it initiates an immediate buy and sends the Bitcoin directly to your custody. Unless that's your business model, you're going to have to register for this. In a way, while I'm not fond of regulations around this kind of stuff in general, it does encourage. not your keys, not your coins. It does encourage more platforms to push self-custody. So I don't know.

Starting point is 00:27:06 I'm kind of, I'm a little bit conflicted with this because, again, it seems pretty heavy-handed. I don't really care about the shit coins, but I don't necessarily think that you should regulate it into oblivion. I'm more like people will learn their lesson. If you babysit them too much, then they don't know what the hell is going to be. on. They don't have the kind of bullshit meter to navigate this kind of stuff. So anyways, I am happy that you're likely going to see more self-custody because of this. Now, also in kind of Canadian regulatory news, but I think it's relevant everywhere, Coin Square, which is a major platform here, they must fork over details of thousands of clients

Starting point is 00:27:53 to the CRA or the Canada Revenue Agency, the equivalent of the IRS here. And that's from a court ruling. Now, it should be noted, well, I'll just read here, actually. One of Canada's biggest cryptocurrency trading platforms has to fork over the identity and transaction data for tens of thousands of its clients to the CRA. In a ruling last week,

Starting point is 00:28:13 a federal court judge ordered Toronto-based Coin Square to provide a tax agency with a significant trove of information about all its clients who had deposited or at any point held a total of at least $20,000 in account since January 1st of 2013. So they're going back damn near eight years. Yeah, eight years. In addition, the exchange has to provide specific details about its top 16,500 active users, both in terms of number of transactions and total earnings between 2014 and 2020.

Starting point is 00:28:51 The information the company must provide to the CRA includes a list of all active or inactive customer accounts that meet the above criteria, as well as a detailed listing of their transfers and trading activity, going as far as requiring the date, time, amount, and fees paid on each transaction and deposit addresses. Now, CoinSquare said that this was kind of a win for them, though. I wouldn't go that far. But the CRA did request literally just all of their users. They did say, give us all of your users and all of the information. This amounts more to like 90 to 95% of their clients are not applicable here. So really five to 10% of them are going to be looked at and the rest don't meet those thresholds. So I don't know.

Starting point is 00:29:50 Of course this is going to happen. What else? What else do you say to this? Of course. Like the CRA wants their money. Their money. They want your money. The IRS wants your money.

Starting point is 00:30:04 All tax agencies want your money. I don't know. What do you say? Let's keep going. Okay, this was some news this week that was divisive. Maybe not divisive. I don't think it was divisive. It was divisive in a way.

Starting point is 00:30:24 So what's going on here? Blockstream, they have the Liquid Network. Now, I do enjoy the Liquid Network. I think it comes with tradeoffs, right? You're losing some of the trustless nature of it, But it's somewhere in between Liquid Network, by the way, it's a side chain of Bitcoin. So Bitcoin gets locked up in a very large multi-sig across multiple institutions where the vast majority of them would need to collude just to screw you and ruin that one-to-one Bitcoin peg. So it sits somewhere where it's nowhere near as good as self-custody, but it's nowhere near as bad as trusting a single custodian.

Starting point is 00:31:05 So it's somewhere in between. And with that tradeoff, you get faster block times. You get very, very cheap Bitcoin fees where you can pay less than one sat per byte. So like I did a video the other day where I was paying 0.1 sats per byte on doing transactions. And you also get confidential transactions, which hides not only the amount that you're sending, but also what asset you're dealing with because you can have assets on top of the liquid network built there. Now, what is going on here is Blockstream created a token called Blockstream Mining Note. And this kind of basically, it represents hash power, which you can then get money back for.

Starting point is 00:31:51 And it is a registered security. So it's not as bad as like an ICO, right? an ICO back in 2017 and an initial coin offering was basically a promise of nothing and it was loosely based on the work of others but really like a company could issue an ICO the company could do well and the coin could go to zero

Starting point is 00:32:13 if it's not used like there's lots of factors there and most of them were just vaporware nothing that had no real use case and was solving no problem actually all of them were solved nothing really They were just like a solution in search of a problem that didn't exist. Anyways, that put a lot of a bad taste in a lot of people's mouths because it was so scamy. This is less so, but I'm going to go and say that it's not, I'm definitely not interested in it. I can hold the two thoughts.

Starting point is 00:32:48 I can enjoy using liquid network and understand that I can find some utility in it. And I can also think that the Blockstream mining token is shit and I don't want to own it. And I think it's kind of a crap deal. But anyways, yeah, effectively, let me find the actual breakdown here. So how it would work is somebody would purchase the token. The token represents hash power in a warehouse that is associated with hash rate or whatever. They mine Bitcoin with it. It's secured in cold storage.

Starting point is 00:33:22 the tokens themselves can be traded freely only amongst accredited investors. You have to be approved. So that means I think you have to invest at least $200,000 for a single token, which represents a certain amount of hash rate. And you can only trade that token between other accredited investors, is my understanding. And then it's held for a term at the end of the term that Bitcoin is paid out to the holder of said token. Now, where is this last bit? I need to see the actual terms.

Starting point is 00:34:00 Okay, so it's a three-year term. Basically, any Bitcoin mined while you're holding this token is held for three years before being released to the token holder. The token, you can purchase a single token for $200,000, I believe, and it represents how, many terahash is it? 2,000 tarahash per second. Now, they say that there could be, it's subject to degradation of the actual machines and potential loss.

Starting point is 00:34:37 And so they say like, if things go terribly wrong, you could lose it all if the machines totally crap out. Again, holders of the notes are only able to trade between people that actually are accredited investors. What I'm curious about and I don't understand is how that's even enforceable. If it's held on your liquid wallet, stands to reason you can send that wherever the hell you want. So it seems like they're kind of saying, don't do this, but we can't stop you.

Starting point is 00:35:12 Maybe I'm misinterpreting that. Maybe they have some sort of thing where you can move it. Maybe not. Yeah, anyways, not super excited about this. I don't really care. Like, it's not, it's not anything illegal. It's not like an actual scam, but I don't think it's a good opportunity. Like, what I'm getting at is that 200 grand would be better place just buying Bitcoin and sitting on it for three years than buying a token, which represents hash power of which they're going to take cut.

Starting point is 00:35:46 By the way, yes, there's fees and upfront costs and all that. So they're going to be taking their cut and then you get paid out the mine to Bitcoin at the end of three years. You'll probably be up on your 200 grand. But at the same time, I mean, hopefully if the hash rate doesn't explode, but I don't think that you'll be better off than just buying Bitcoin right now. I don't know. That's my opinion. Maybe I'm wrong. Maybe.

Starting point is 00:36:09 We'll see. Anyways, in relation to Liquid Network, not this token. If you do want to learn how to use Liquid Network, I did make a tutorial the other day. which is all about that, how to get from Bitcoin to liquid, how to do transactions, how to even, like I use like a token to purchase a hat.

Starting point is 00:36:28 It's basically like a gift card, but it can sit in a liquid wallet. Yeah, so anyways, feel free to go back and check that out. Yeah, I don't know. I'm kind of,

Starting point is 00:36:37 I do actually quite like using liquid. I would, by disclaimer, I will not put a ton of Bitcoin in liquid, but for like day-to-day stuff, liquid, Lightning. The main thing for me with Liquid is Lightning, it has to be in a hot wallet. So that means it has to be accessible online and it has to be like you can't secure it. You can't put Lightning funds on a hardware wallet. Liquid funds can be used on a hardware wallet. I'm going to be doing a video on the Jade wallet, which allows you to securely store liquid Bitcoin. So that'll be something I'm touching on in the coming weeks. Anyways, I just want to finish up with one last funny thing.

Starting point is 00:37:23 Oh, man, I love seeing people so angry about the Lasersize meme. And Peter Brandt, he is, he's like a technical analyst. I'll read his bio, Futures, Forex Career Traders since 1975, author and publisher of the Factor Report. I tweet charts about stuff and I learned the hard way. And he tweet he does tweet a lot about like Bitcoin price movement and everything. When we hit the bottom last March when everything bottomed out and the whole market of like even stocks were panicking. He said that he always thought that Bitcoin was a 50-50 trade. It could go to a million.

Starting point is 00:38:02 It could go to zero. And when it went down, he's like, well, now my bet is on zero. That was that was a buy signal back then. Anyways, he tweeted out, in my opinion, laser eyes belong to cultists, not investors. He said, I will use my laser eyes when Bitcoin experiences a $50,000 correction, and many of you swap your lasers for tears. And I replied, fuck you, Peter.

Starting point is 00:38:28 And I gave him all of the laser eyes, as many laser eyes as I could. Anyways, I don't know. I find it so funny when people are so angry about a stupid meme. I, yeah. I'm going to finish up there, guys. I know. It's April Fool's Day. There's a lot of stupid things going on.

Starting point is 00:38:50 I will likely not be around next week. There's a reason for that. Myself and my wife are heading into the hospital on Saturday. She's being induced and she will be giving birth to our second child. So my daughter will now be big sister to a little brother. So I am bullish on minting new bitcoinsers. I'm going to take a little bit of time with the family. I will be here tomorrow for Why Are We Bullish?

Starting point is 00:39:23 So make sure you don't miss that one because it'll be my last one for like a week. I'm going to take a week. Just focus family. I might ship post on Twitter a little bit. But mostly, mostly I'm going to take a little bit of time. And then when I come back, I'll try to come back with a vengeance and do some extra videos to make up for that absence. But yeah, wish me luck.

Starting point is 00:39:44 I'm excited. I'm excited to have another member of the family and another Bitcoiner in the making. As always, please do hit like, subscribe, share. All of those things helps so much and help get these shows in front of more people. Of course, if you want to help the show in another way, you can hit the sponsors down below,

Starting point is 00:40:03 Ledon, Cobo, BitRefill, and the Bill Fottle over at Privacy Pros. And if you really loved what you saw, you can hit me up with a Bitcoin Lightning Network tip at my tippin.me page, t-i-p-p-in.me-slash at BTC sessions. With that, I am out. Have yourselves a wonderful day or evening wherever you may be. And I'll see you guys next time for your daily session.

BTC Sessions - TELETUBBIES IN BITCOIN! Laser-Eyed And Bullish AF ep163

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