BTC Sessions - Why China DUMPING 15,000 Bitcoin FORCES Trump To FIRE JEROME Powell

Episode Date: April 17, 2025

China dumping 15,000 Bitcoin is sending shockwaves through global markets — and some say it could force Trump to fire Jerome Powell. Here’s how this massive move could reshape U.S. monetary policy and Bitcoin’s future.🔥 Don’t miss this action-packed episode! Subscribe, hit the bell, and join us LIVE to stay ahead of Bitcoin’s biggest moves! 🚀—------------------------------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 Simply Bitcoin & BTC Sessions on other channels:Simply Bitcoin on Youtube: youtube.com/@simplybitcoinSimply Bitcoin on X: x.com/simplybitcointv Nico on X: x.com/bitvoltBTC Sessions on X: x.com/BTCsessions—------------------------------SHOW SPONSORS:BITCOIN WELL BUY BITCOINhttps://bitcoinwell.com/btcsessionsMINING DISRUPT CONFERENCEhttps://www.eventbrite.com/e/mining-disrupt-conference-2025-fort-lauderdale-florida-tickets-980017277057?discount=BTCSESSIONSCOINKITE/COLDCARD (5% discount):https://store.coinkite.com/promo/BTCSessions AQUA WALLEThttps://aquawallet.io/NUNCHUK HONEYBADGER INHERITANCEhttps://nunchuk.io/individualsHODLHODL NO KYC P2P EXCHANGEhttps://hodlhodl.com/join/BTCSESSIONDEBIFI LOANShttps://debifi.com/#bitcoin #crypto #btc #money

What would cause to dump billions of dollars of Bitcoin and force Donald Trump to get Jerome Powell fired? At the moment, both countries are juggling the money printer with economic reality. While China is struggling to not devalue its currency by secretly selling down its Bitcoin to raise capital, at the same time, America is also stuck in between a rock and a hard place. Today, Donald Trump publicly called for the termination of Jerome Powell. In today's weekly session, we're going to explore whether this silent economic struggle between the world's two superpowers means that the bull run is already over or if it's just getting started. You're not going to want to miss this one.

Stay tuned. I am Ben with the BTC sessions. This is your weekly session. All right. And I want to welcome in my co-hosts with the mostus, Mr. Nathan Fitzsimmons with Bitcoin Mentor. How you doing, buddy? Oh, man, I'm doing great. I didn't have to be forced to sell any of my Bitcoin. I got a big coffee and a bunch of Zins. I'm ready to go. Hyped up, hyped up. I'm ready to do it. And we're chatting here, you know, the topic of the day. And I'll bring it up here. Maybe I'll make us pretty off to the side. But there's some interesting stuff going on in China in and around them. dumping Bitcoin and ending up with Yuan, which has the net effect of, of course, bolstering their currency. But where is it happening on what level of government? Because it is indeed government, but what's contributing to it and why?

So this is from Reuters here. China debates how to handle criminal crypto cash. We know what they did in the U.S. All of those confiscated Bitcoin are now a reserve, right? Assuming it's still there. We'll see. If only there was an easy way to audit Bitcoin. I know.

You know, if they figure that out one day, this thing might have legs. We don't know. Nonetheless. Nonetheless. Okay. So basically, China has these rules on handling C's cryptocurrencies or rather a lack of rules, but they are not allowed to trade Bitcoin or any other cryptocurrency within the country. That is currently illegal.

However, you have instances where Bitcoin. has been seized in criminal cases across the country. A lot of it, a lot of it over the years. And so you're getting into situations where there's billions of dollars where the Bitcoin that's being seized. And then the local governments that are seizing it are not legally allowed to, you know, quote unquote dispose of it. Not that you would want to, we know you don't want to dispose of it, but they do.

And so there's a Shenzhen based technology. company that has sold cryptocurrencies worth more than 3 billion yuan in offshore markets since its founding in 2018 on behalf of local governments throughout cities in China, eastern Jiangsu province, according to a document seen by Reuters, or Reuters, rather, the U.S. dollar proceeds that they get because they have to sell them offshore for U.S. dollars, those proceeds are then exchanged into yuan through local banks before being transferred into the accounts of local finance bureaus according to transaction records. Now, both the company and the local governments obviously declined to comment when asked. Now, China's local governments held an estimated

15,000 Bitcoin worth $1.4 billion at the end of last year, ranking the state as the world's 14th largest holder of cryptocurrency, and this is from River, which is funny because, again, as a jurisdiction that has banned, you know, Bitcoin mining in the past, that has banned the trading of Bitcoin within its borders to still be the 14th largest holder on earth of cryptocurrency, hilarious. But the main point of this is the net effect is they're seizing Bitcoin, they're selling it for U.S. dollars initially, but then they're dumping those dollars, devaluing them,

and then purchasing Yuan to effectively, the net effect is that those actions prop up the value of the yuan. Now, to what degree that's yet to be seen. But I do want to bring up this chart, and thank you, Nathan, for providing this beforehand. This is the yuan versus USD chart. and everything seems pretty chill for a little bit, but this is what the three month, I think.

The one month we're looking at here. One month, okay. And look at the fuckery here. These spikes as the yuan begins to tank, they do not want it going down right now. You can see these spikes of liquidity as they try to prop it up, and it's just, it's very, very stark. It's like above board, above board,

and what in the shit is going on? here. So there's definitely an attempt to keep the yuan at a certain level. Now, this isn't the only messing around that we're seeing from China potentially here. There's also U.S. Treasuries. And so in spite of the current economic situation, in the type of situation right now, you would assume that people would be diving into safe haven assets when you're seeing, the effects of the tariffs on the market at large. People want to save haven. But that's not what we've seen.

We've seen the interest rate on the U.S. Treasuries actually go up. And what that indicates is the reason the interest rate would rise is because not enough people want to buy them. So they need to give a better return to entice people to buy more of them. So basically, people are dumping treasuries or just refraining from buying them. And, of course, there's speculation that it could be coming from China. Again, screwing with the U.S., China is America's second largest foreign creditor after Japan,

holding about $760 billion in treasury securities. The quote here, I think China is actually weaponizing the treasury holding already, said Chen Zhao, chief global strategist at Alpine macro. Quote, they sell U.S. Treasuries and convert the proceeds into euros or German bonds. That's actually very consistent with what happened over the last couple of weeks, he added. Germany's bonds had bucked a wider sell-off in long-dated treasuries last week with his 10-year yields sliding. So you see all these actions on behalf of China, messing with the currency, trying to get their ducks in a row. So, you know, they want to print, but they don't want the yuan collapsing.

And in the U.S., you're actually kind of seeing the opposite. They're actually looking to devalue the U.S. dollar so that they onshore more production. Now, this was today. This was Donald Trump, a tweet from him. The ECB, or European Central Bank, is expected to cut interest rates for the same. seventh time. And yet too late Jerome Powell of the Fed, who is always too late and wrong, yesterday issued a report, which was another and typical complete mess. Oil prices are down, groceries, even eggs are down, and the USA is getting rich on tariffs. Too late should have

lowered interest rates like the ECB long ago, but he should certainly lower them now. Powell's termination cannot come fast enough. This, of course, in response to Jerome Powell, not lowering interest rates the other day, which cascading red everywhere in the markets because of that, people did not like it. So, I mean, first off, before we kind of wrap this all up, Nathan, what are some of your thoughts here,

your reactions to what's going on? Man, I got to tell you that chart of the U.S. there, It reminds me of the like Terraluna stable coin. Like trying to manage a currency is in and of itself a losing game. Yes, I'd like to, I want it to be, you know, up, but not too up. I don't want to devalue it, but I don't want to devalue it too much. It goes right back even to inflation. Oh, we want 2%.

10 is too crazy and one would destroy the economy. Like it's when you're trying to control a money, you're ultimately fucked. There's nothing, you can't win. You can try and have this go on for as long as possible, but you're going to get pushed around. And I think that's exactly what we're seeing here. In the same sense that we have China, net exporter, big exporter, global exporter, and the U.S. is now trying to compete as an exporter. So they have conflicting interest between the two of them, and they're going to go back and forth.

And as a Bitcoin on the sidelines, I love this as a spectator sport because I don't care, because we all know that at the end of the day, they really only have one option. They're always going to continue to move towards devaluing their currency in the long run. They're always going to move to more liquidity. There'll be brief moments when they try and tighten their belt. Like, I really appreciate that Doge came into the pitcher. and was at least conveying to the public, like, hey, maybe we shouldn't just frivolously spend money

on the most stupid asinine things. But they can't put a dent in the liabilities there. They can't possibly actually make a meaningful impact beyond sentiment. And so I think it's just a wonderful reminder that whether it's nation states trying to, like, you know, control their currency or even like a stupid, stupid alt-coin stable coin trying to control the currency, you're going to lose the peg.

You're going to lose control because you cannot just, willing to exist, what like reality is placing pressures on them. I wonder if, I wonder if the powers that be when, when they were trying to maintain the peg here or trying to maintain a semblance of stability here, if they were given the same face as Rao Powell being told that Tara was collapsing, Paralian was collapsing. I've got to imagine some central banker was showing that face. But, I mean, again, this all points to the very timely release of Larry Lepard in his book, The Big Print. There is no instance where over a long enough period of time, they cannot print as a necessity to hold up this system.

And it's accelerating more and more. and I guess to cap off this particular topic, Lynn Alden, she's going to have to tap the sign again. Nothing stops this train. Here she is pulling up a chair. She's quoting Walter Bloomberg. Trump, Jerome Powell is always too late and wrong. Trump, Powell's termination cannot come fast enough.

Trump, Fed should have lowered interest rates long ago. And she's in for the ride. And then the best meme of the day, Lynn Alden, with a clip from the Matrix. Quick, the president is fighting the Fed chair. Come watch. I got to tell you, I love this battle back and forth. I'm pretty sure I saw a clip that recently came out of someone asking Jerome if the Fed put

is still on the table. Like if the stock market tanks, hey, you're going to be there to rescue us? And he basically said, no, we're not coming to the rescue. And you see the market response in accordance. But it's just a battle between the Titans, right? It's the U.S. versus China on currency. It's Trump versus Powell. And I got to tell you, despite, like, I'm well aware that Trump can't fire

Powell, that can't happen. But this guy's really good at making things come to fruition. So I'm not sure kind of what tactics he might employ or what he might try to do to move the needle a little bit there. But again, for Bitcoiners, it's like a third leg, I'm not even, I don't remotely care which currency wins. I'm going to the neutral one and it's fun to watch them fight it out. Yeah.

He's already, I think he's already trying, right? Like all of the stuff that he's doing is, is actively trying to make it so bad that the Fed has no choice but to lower interest rates. And so far hasn't worked, but I, he's going to go scorched earth, man. Like, if he can't remove him, he's going to force his hand. It trumps that kind of person. So, nonetheless, we're just discussing two, like the, the two world superpowers that are head-to-head trying everything to screw with the money to maintain their positions of power. But they're not the only countries on earth, and people have to navigate the fallout of what is inevitably what Larry Lepard likes to label the big print.

And so on the other side of the jump, we're going to talk about how there seems to be some movement in and around what countries plan to do to help them hedge against this. We'll be right back. 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 screen or simply head to Bitcoin Well.

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We're going to give away some sats. So whip out your lightning wallets. Whoever scans first is going to snag the sats from everyone else. And if you're not already on Bitcoin, well, there's a QR code down below. where you can sign up and check them out. They're awesome place to be stacking stats in Canada and the U.S. the way it works when you sign up, when you buy Bitcoin, when you refer friends, you earn points. You can use those points to toss a coin in the well and win a chance or have a chance to win

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Get the points. Make it happen. Yeah. Let's do it. Let's do it. So anyways, we're going to toss a coin in the well right now. Whoever scans that QR code in the middle of the screen will snag the sats first. And in this case, 210 sats.

I'll leave it there for a few seconds. If you don't snag it, you're going to have to scrub back through the video to get there. But if you do, let us know in the comments. We love to see it. So jumping in to the topic at hand, how do countries handle the superpowers, just steamroll. them with exported inflation, being able to buy up all their resources with cash they printed for free. Well, we can see the writing on the wall. Binance helps countries with Bitcoin reserves and crypto policies, says the CEO.

And so, this story here, Cryptocurrency Exchange Binance is involved in discussions on establishing strategic digital asset reserves with several countries. its CEO Richard Tang said. Binance has been advising multiple governments on establishing strategic Bitcoin reserves and formulating crypto assets, regulations, and this was from the Financial Times on April 17th. Quote,

we have actually received quite a number of approaches by a few governments and sovereign wealth funds on establishment of their own reserves. Bynes confirmed the news to Coin Telegraph, but denied providing details on the specific countries that sought its assistance or the number of such collaborations with governments. Now, they have previously met with governments in and around regulatory guidance. And so this is them CZ pictured here with the Pakistani, what is it, the deputy prime minister here.

And it does say that governments of Pakistan and Kyrgyzstan have announced collaborations with Binance and former CEO, CZ, on regulations in the past few weeks. None of the jurisdictions mentioned crypto reserve plans on their agenda, although I wouldn't be surprised if they're already in the works on regulatory frameworks that these could likely be some of the people looking at reserves. nonetheless, Nathan, I want to get your take on this and what you're seeing here first, and we can riff on it a little bit. Yeah, my immediate take is like, okay, great. Now we've got the knockoff shit coin Samson Mao running around the world, right? Like everybody, even nation stays, right? Everybody's shit coins to start.

Everybody needs a neutral reserve currency and they will find their way to Bitcoin, but they're all going to think like, hey, I need to get rich quicker. I need to diversify, all that fun stuff, all those hard one lessons that we went through. So I don't know. I'll take the good with the bad, I suppose. And this are going to figure it out just like everybody else as well, too. And I guess there's kind of, you know, somebody competing with Brad Garlinghouse for most annoying guy sitting with heads of state. That's true.

Right? It's like I thought, okay, CZ, whatever. We'll let it ride. They will ultimately, like so many people did before them, they'll go through the shit coin phase. They'll figure it out. But at least at the end of the day, they're getting off zero with Bitcoin. And they're realizing, again, that they need to find a way to navigate these trade wars, these currency imbalances, these different, they don't want to be at the whims.

Again, like you said, at the major superpower society, they're going to print, they're going to not print, they're going to hold back liquidity. They're going to give forth liquidity. Like, Trump is clearly, at least it appears, maybe I'm giving them too much credit, but at least people around them, they're trying to deal with Triffon's dilemma. And in that process, it's very likely that either the American people are going to suffer or the world that needs dollars are going to suffer. So better hedge your bets and at least get some Bitcoin.

Yeah, yeah, absolutely. And again, whether it be nation states that are looking to hedge against this with Bitcoin or other entities that are in the, we'll call it the dollar game, there's been some movement there too. So Nathan, do you want to tee up what's going on with tether and ocean and everything that's kind of in that world there? Oh, 100%. So we got tether mining is now mining with ocean pool, which I found really. really, really interesting. And what kind of surprised me is it almost seems like, again, with Trump, with China, even with CZ talking to those countries, I'm seeing a whole bunch of what I would call like Fiat Maxis starting to position themselves in Bitcoin. They're all having

to come up with either a policy or a plan or procedure, reserve or something that all these, again, Fiat overlords are making their way in. And Tether is like the pinnacle of Fiat Maxine. They're one of the biggest buyers of U.S. treasuries. But even they're not keeping their wealth in U.S. treasuries though. No, no, they're going to collect that spread on the short term and put everything into Bitcoin. So I still don't necessarily even know what to make of it, but there's something about one, they went with ocean. Like you decided to go with ocean mine, which I think is great, but I'm surprised to see them even necessarily that far in the weeds that it could have been that they do have some concerns about, you know, block template centralization. They want more of the like actual

true, true kind of mining where they're actually creating the templates themselves. It also could be as simple as a numbers game, right? I've seen lots of people talk about, like, compared to, what is it, FFPS mining, that they're earning way more with ocean. Yeah, you got to deal with some luck. There's going to be some random chance there. But as long as you can survive those, you know, kind of dry areas of not finding a block that they're generally earning more with ocean. So it could be a purely numbers game where Tether went, hey, it doesn't matter if we don't find one for a little while. If we're going to average out more in this model, we'll go there. So whether kind of at all, I'd be I'm maybe not surprised.

Would it be mission aligned or is it purely profit driven or is it potentially both? But even adding to that, it was reported. I know I saw Pete Rizzo through this out there as well too, that Tether CEO is all in on Bitcoin. 100% of his crypto portfolio is just Bitcoin. So if he's already at the point where he knows better than nation states at this point, not the shit coin, maybe he actually is aligned with Ocean's mission. Maybe he does want to participate in mining in that sort of fashion and decentralize the block template construction. Yeah.

Are you telling me that the CEO of Tether is not storing his wealth in Tether? Yes. You don't get high on your own supply, apparently, because he's not keeping dollars. Yeah, that's fair. Again, like, it's just, I mean, he knows what's up. He knows that he's able to make money on the dollar. It's just another form of exploiting the. system recognizing what's broken about it making my i mean they're their tactic of being able to

uh you know have dollars create you know like borrow um and and and basically slap them in treasuries and just have that grow while while issuing stable coins like they've it's the it's the easiest business in the world i'll take your money And I'll give you my casino token. I'm going to put your money in a bank account and collect the interest. Yeah. That's it. It's a very small staff.

There's not much that they necessarily have to do there. And I think I even saw things about like tether supporting on liquid or lightning as well. Lightning coming out as well too. So they're very clearly tapped in. And again, it's sometimes, you know, you want to be a little bit of a purist and it gets a little bit annoying. But Bitcoin is money for enemies. And they were all going to find their way here eventually.

But yeah, it looks like a lot of these like top level Fiat Maxis are making their way towards the exit. Yeah. Yeah. Absolutely. Well, okay, moving away from the nation state part of this and even the Bitcoin Treasury Reserve and securing the fruits of your labor and making sure you don't lose your purchasing power into the adversarial thinking. And so on the other side of the jump, We've got something pretty exciting, a really awesome new tool. I would say that really applies to a lot of the audience here in various differing ways.

Nate, do you want to maybe just give a little tease here before we jump? Yeah, I'll just leave it with this. We're seeing a bunch of people, a bunch of countries and companies and corporations positioned themselves to take advantage of the opportunity. But the flip side of that coin is that you're also going to see perhaps some nation-stays is that people currently control, try to go the negative route, try to exert their control. You want to make sure they're not necessarily vulnerable because either way, whether they're going to try and benefit from Bitcoin or try to clamp down on Bitcoiners,

they're making their moves. Awesome. Well, we're going to show you a tool that is very much going to aid in sheltering you, your family, your company, and a lot of people around the globe from those type of actions should they come your way. So we will be right back. Make sure you guys smash that like button. during the content. We'll see in a sec.

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The cold card Q is an absolute powerhouse and my daily driver, and it's ideal for newcomers and advanced users alike. The tab signer gives you a low-cost, user-friendly option for those just getting started or for convenience when traveling. You can head to coincite.com and use code BTC sessions for discounts or simply scan the QR code on the screen to get started right away. All right, we are back in. And I will say if you do want to check out the cold card queue, which is, I think it's the best damn thing for securing your Bitcoin out there.

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But Nathan, do you want to, I'll tee up what this tweet is about. And then you can kind of, I don't know if you want to give your best Francis Pouliot voice. Probably not. But anybody outside of Canada, just so you know, we have an election coming up very quickly here in the next, what, we can. a half or so and uh unfortunately uh it looks like the very same party that uh has been running the country for damn near a decade uh and that was run by justin trudeau up until very recently when he stepped down will now be run by or is now currently being run by his economic advisor former central banker from both Canada and England.

And he's projected to win in just about every single poll out there, which is a stark contrast to where the opposition party had double the numbers of the liberals just months ago. And Pierre Polyev is a bitcoiner. He does have Bitcoin. But he has curiously shut the hell up about it in the past couple of years here. So nonetheless, Nate, do you want to give this a little read from Francis Pouliott? Oh, I'd absolutely love to. From Mr. Francis Pouliad.

The bottom line is this. Carney will come after your bitcoins in the form of a tax on unrealized capital gains or some fuckery and will want a database of all bitcoiners in Canada. Pierre Pahliav won't, probably. And that's all you need to know about the Canadian elections. And I got to tell you, I saw that, I think, come up yesterday. And it really hit me because I had, I had. We'll just talk politics for a second.

I had no intention of voting. And essentially for me, really came down to just I don't view it as a legitimate process. And so I don't necessarily want to participate. However, however, despite everything that's happened, I would have been one of those voters in the U.S. that voted for Trump purely for Ross. That was enough of motivation to go like even there's a chance. I have this emotional connection to it. I would do it.

And even in this election with what I've seen, I'm pretty sure that Pierre has actually quoted the Bitcoin standard in parliament. He's bought in a donor for. from Real Tahini's on Lightning, right? He was, he had an appearance on Breedlove show as well too. And I was looking for any reason. Give me something. Give me something so that I can go, okay, for Bitcoin, I'm going to get out there.

I will actually take the time and I'll actually vote for this guy. And you're right. He's been dead silent on it. Like they raked them over the coals during the bear market. And you think he would do the victory laps at this point, the victory lap is at this point and come and say something because you really would have actually saved your money at that point. But he curiously hasn't. However, if there is a chance that perhaps it buys us more time to build more tools like what we're going to talk about, then maybe it is worthwhile.

Then that's kind of where I'm positioning myself now that ultimately each election is just a joke. But if it buys us more time to harden Bitcoiners develop, spread the word, spread the network, then okay, maybe it's absolutely worth it. Yeah. And so I guess to tee up this really cool new, I guess I'll call it a feature technology, just a tool. for Bitcoiners to use. I mean, imagine a world, and this is, according to Francis, not far off, imagine a world where suddenly the government is coming after your Bitcoin in some way, shape, or form, whether it's in the form of an unrealized capital gain tax, which I think is completely

immoral and counterintuitive. But or just straight up confiscations. Like, how do you, how do you do that? Like, the first thought is, okay, well, I got to get my hardware or my seed phrase or whatever, and then I'm going to have to escape. I'm going to have to actually physically cross a border with, like, a seed phrase. That would be scary as all hell. So, but so is the idea potentially of digitally transferring it.

Like, you put, what, a seed in the cloud maybe and, like, get it when you get there and pull it down or like you don't want to email it to yourself, maybe an encrypted messenger, maybe, but like there's still like it's on the device. How do you get around the scariness of physical or digital transport of key material? Well, our good friends over at Coin Kite have this. Do you want to touch on this?

Yes, this is absolutely beautiful. I even just want to remind people to if I'm not mistaken, there's a couple of people involved with the trucker protest. Like don't think that they won't do crazy shit. That happened not that long ago, and I think I saw that some of the organizers were being sentenced like two years in prison. So it's at least worth considering. So what we got here from the cold card is the cold card key teleport. Key teleport is a feature of cold card cue devices that securely transfer sensitive data such as seed phrases, secure notes, and PSBTs using QR codes or NFC.

It employs robust encryption, including elliptic curve encryption, as well as AES-256. CTR, enhanced by user-provided password for add-a-security. This ensures that moving critical information between devices is both straightforward, highly protected, regardless of where in the world you reside. It's a way that you can basically just transport your key anywhere in the world. Yeah, it's really wild. So, like, the way that something like this would work for the layman here is you're thinking of sending something digitally, but you want the ability.

for only the intended recipient, maybe yourself even, to be able to actually access that information. And so what this does is you have two cold cards in two different locations. And you could do this via QR code, whatever, but you're sending information. You're basically sending what's known as a public key,

and you're using that information on the other side, the person with the actual material, the key material they want to send. they're encrypting it with your public key and a password for an extra layer of security, then sending over what anybody else intercepting it would just see as a useless blob of data. And not only can nobody really brute force this because it's got the same level of encryption as like a regular cold card as Bitcoin seed phrases. But it gets over there and it can only be decrypted by the cold card that is the intent. recipients. So they get, they port the information into the cold card. They have the password and the

key material to decrypt it and they receive the actual seed phrase you meant to send. Or again, password, secure note, entire cold card backup so you can clone the entire thing literally over the airwaves with a friggin QR code. It's crazy. It allows for cross-border transfer of key material, which could then be destroyed from the origination point, and it's now exclusively wherever you sent it to. You're escaping Canada to El Salvador. Bam, QR code, QR code, type in a pin. You're set.

You got it. It's wild. It's super useful. It reminds me of a more secure version of border wallets, if you're familiar with those, where you could draw a pattern on a grid, and the grid generates all of the seed words based on a seed word that you had.

It was crazy. A shout out to MTC for inventing that is awesome. But just another tool in the tool belt where if shit gets draconian, you actually have a course of action. And I love, I love to see that. And not even on that point, too, even if you just wanted to, like,

you've gotten to the point, you've got your generational wealth, and you want to have keys distributed it over the world. You don't have to go and do like a six-month trip if you've got people that you intend to have hold them, right? You could have a two of three multi-sig and you could just teleport your key to your buddy in the UK, your mom who's maybe hanging out in El Salvador and I don't know, maybe some of the mentors hanging out in Australia, but you wouldn't have to physically go and take it with you. You could teleport a key of a quorum to trusted parties all over the

world in an afternoon and destroy the source and get out if you had to. That is an excellent point. setting up a multi-sig remotely. That's an excellent use case. Or even just as simple as like, oh, you want to set up a family member with their cold card, but you can't be with them exactly. You can just walk them through the process here with the key teleport. And then they're set up. And you can also act as your kind of like third line of defense of like, hey, I've got a seed just in case.

but they don't need to physically give it to you. Anyways, super, super awesome. And we're going to jump from this one. There's a few other things I want everybody to be aware of, just recent stuff that's dropped here. So, of course, BTC Pay Server, incredible tool, open source tool for anybody to become a Bitcoin merchant. Their version 2.1.0.

They've got new multisig integrations, fee acceleration, and plenty more. These guys are always killing it. stay on top of the most recent release and yeah, check it out. I'm going to be playing with it myself. This wallet is falling, I'm going to say falling under the radar for a lot of people, but it's called Cove Wallet. It's currently in beta and it's only on iOS, but they're going to have an Android version soon.

But a lot of really good people working on this mobile wallet. And it's got support for hot wallets, cold wallace, multi-sig. They just added Tapsiner support, which is super awesome. So if you're sleeping on Cove and you've got an iPhone, go check it out. It's definitely worth checking, and I'm looking forward to the Android version. Love the Tab Siner support. Yeah, exactly. The even more support for Tapsiner is always great.

The last thing that I wanted to talk about in the updates, Bitcoin Core version 29.0. The main thing I just wanted to touch on here, I'm going to scroll down. There's a lot of stuff that went on. Replace by fee is now standard. And those unfamiliar, replaced by fee means you send a transaction. If you want to replace the transaction for some reason, maybe you're just trying to speed it up,

or maybe you're trying to change the destination. You can replace the transaction however you like with a higher fee, and that is the one that's likely to be picked up. So again, this is a mechanism to speed up transactions, or if you sent a transaction, you're like, ah, shit, I actually meant to do this. You've got a limited amount of time before it block its mind to do an RBF transaction and say, actually, here's a higher fee, send it here instead. So this could be like refunding to yourself or changing the destination.

So good and bad with this. I love RBF. I use it all the time because it just gives me that extra moment or it gives me the chance to, you know, if there's a fee spike to bump it. The other side of it is when you're dealing with on-chain, it's just another point that you shouldn't consider Bitcoin yours until you have at least a confirmation, but multiple confirmations are better. It's a settlement layer and you got to wait until shit settles before you actually have it. Different from lightning. Lightning, you get lightning.

You got lightning. So just keep that in mind. The biggest opposition I've seen to this is probably from John Carval. He wasn't a big fan of RBF by default because a lot of the lightning stuff he was working on were creating lightning channels and bumping transactions to the recipient's side of the channel instantly under the assumption that you couldn't get a reversal of the transaction. But when RBF is default, no matter what, you got to wait for that confirmation before you go and you bump money to somebody's side of the channel because it could change everything. if somebody RBS sets. So anyway, something to think about,

any general thoughts there on any of those things? No, it's much the same. One, I just absolutely love seeing more tap signer support. If you haven't played around

one of those things yet, they're great. And that's another way you can kind of sneak Bitcoin across the border, which is fantastic. So I think Nunchuk and Keeper and now Cove as well,

too, are the ones that I'm aware that support tap signers. So always good to see there. And then with regards to RBS, like that was a bit of like a blind spot for me in terms of being able to change the output of the transaction. Because I'd really only ever thought about it,

like, uh, let's not be real. I don't want to waste any stats. I was too cheap on my transaction fee. Okay, let me go in it and bump it up. And that had really been the only case where I had ever used it. And it kind of reminds me of the balance between like, you know, especially helping people with Bitcoin, whether or not you're going to look at the risk of theft versus the risk of loss as well, too. And I do see, and I can understand particularly if we have hopefully, you know, new cohort coming in, new people getting and actually still transacting on chain while they still can, that the ability to bump up the fee into if they were just like, you know, it didn't. get the fee structure. They didn't pay enough. It's just not going through. That makes sense to me. And I wonder if maybe down the line when there's a lot more activity on that network, too,

if this might be something that they might default back off at some point for lightning purposes or because, you know, the vast, fast, fast majority of people interacting with on-chain Bitcoin have a better understanding of necessarily what they're doing from the get-go. Yeah, absolutely. Well, with that, we're going to round it out. Just a reminder to you guys, if you're playing with your cold card or anything else you've mentioned here, or you're just trying to level up in your Bitcoin journey, and you feel that the tutorials on the channel are not quite cutting it, and you need some handholding.

You can reach out to us over at Bitcoin Mentor.io. It's myself, it's Nathan, and it's a whole team of excellent Bitcoin educators that can handhold you through anything you need in your Bitcoin learning journey. So as always, keep stacking stats, keep stacking skills. I'm Ben. This is Nathan. And this was your weekly session. We'll see you guys next time.