TFTC: A Bitcoin Podcast - #146: Rodolfo Novak

Episode Date: April 1, 2020

Join Marty and Matt as they sit down with Rodolfo Novak to have a meandering discussion about: - COVID19 - Droplets v. Vapor - Why you should wear a mask - Why people are so willing to cede civil liberties during crises - Hardware on the horizon from CoinKite - much more Shoutout to this week's sponsors. Cash App. Start #stackingsats today. Use the promo code: "stackingsats" to receive $10 and contribute $10 to OWLS Lacrosse you download the app.

So, freaks, it's Marty here to introduce this episode of Tales from the Crypt. Last Friday, Matt and I sat down with a good friend, Rodolfo Novak, from CoinKite, ColdCard, OpenDime, all the dope hardware projects. And we pump a lot here on this podcast. We sat down and just had a three-hour conversation shooting the shit. It was a really good time. The conversation meandered from coronavirus to the need for masks and why they're helpful, the difference between vapor and droplets to uh freedom why why people tend to scream for more government overreach during times of crisis and of course we touched on uh what rodolfo's building

at cold card uh we specifically talked about the um the the uh nine volt battery powered uh outlet which is pretty cool uh this episode of tales from the crypt is brought to you by our good friends from the cash app you freaks already know all about them they're helping us stack sats sorry for the screaming baby you're just going to put up with it his mother's out on on shopping duty and i'm here alone uh yeah so you can stack sats on the cash app if you put up with the crying baby uh maybe maybe the baby is the reason that you're stacking sats you're thinking long term you're thinking low time preference you're thinking about their future low your time preference stack sats the cash app is letting you do that on top of that they're allowing you to stack

stonks if you want to stacking slivers of stonks actually so if your favorite stonk is too expensive even after these recent market crashes you can buy as little as one dollar cash app investing is a subsidiary of square and member sipc and remember there's no four to five day waiting periods to start investing because your connect your cash app is connected directly to your bank account so you can start investing today as always use the code stacking sats when you sign up for the Cash App. You're going to get $10, and $10 is going to go to our good friends at Owl's Lacrosse. That's Owl's Lacrosse.

Use the code CASHINGSTACKS one word. Download the Cash App today. Enjoy this episode, freaks. you've had a dynamic where money's become freer than free if you talk about a fed just gone nuts all all the central banks going nuts so it's all acting like safe haven i believe that in a world where central bankers are tripping over themselves to devalue their currency bitcoin wins in the world of fiat currencies bitcoin is the victor i mean

that's part of the bull case for bitcoin if you're not paying attention you probably should be what is up freaks welcome back to tales from the crypt we got our uh our first group episode in quite a while uh our guest as always has us up early in the morning to come speak about uh about bitcoin and and hardware i'm sitting down with matt odell and rodolfo novak what's up gentlemen morning rise and shine rise and shine baby rodolfo's got some some heavy duty hardware over there some protective hardware it's uh it's all uh it's it's for collecting it's for collection and hunting only it's ppe that's right it's ppe yes what does ppe stand for personal protective equipment

yes yeah we were just talking about how uh the media's grasped onto that acronym and run with it it's all over the place i had no idea what it meant until 30 seconds it's very triggering to anybody who actually uses it we just call it masks and gloves well you were giving matt some glove advice what kind of gloves should be should we be wearing not latex but what's the other kind nitrile yeah so i mean in general right i mean for for all this crap just buy stuff you're gonna use it anyways right don't go buy weird like medical stuff buy like like a shop like nitrile gloves because then it's good for cleaning guns without getting your hands messed up with the chemicals and all like it's a it's it's just good to have it around uh yeah and then the masks get

you 100 so that you can use them for painting and shooting at the range without breathing lead so how prepared were you for this from an equipment from a personal protective equipment perspective i mean let's just say that most not much has changed in my life i mean the preppers are really uh really having their day right now and preppers is a derogatory term the people who are prepared nah i think i i mean i'm not a like a prepper prepper right but like i am prepper sympathetic um a sympathizer um the that crowd uh they i think if i remember like correctly like the the way the way that their sort of like mentality works like when shit starts to get like you know interesting they they they go in hiding like they go they

they sort of fade away because they don't want their resources to be taken by their like you know neighbors and shit like that so like preppers really sort of like don't advertise that they have the resources it's part of the the it's part of how the protection works that's a good point yeah imagine prepping for years and then you're just talking about it and then your neighbor comes by is like all right that's mine yeah like imagine you know all this like like uh hospital like managers and all this stuff like not having all the gear around because

you know sheer ignorance it's uh it's amazing to me man even facebook you know probably hired a dude that handles you know preparedness for like corporation and they had like a you know a basement full of like masks because it's a basics right yeah i was actually uh very happy to see that my father-in-law has mask here at uh at our quarantine house um showed up didn't even have to go buy something already here yeah for those who are not seeing like marty has like he's got like uh like tyvek covering all the walls and windows and he's wearing like a gown right now yeah i've uh taken all the precautions now it is uh that's yeah but that's only for him to do like diaper changes yes yes it's not related to the actual virus yeah when you have a when you

have a boy you find out that that they'll just pee at any time and it goes all over the place it's uh you gotta you gotta be quick to put the the wipe on the wiener before it starts spraying you this is a this is a dad tip out there for from a dad that's that's a month in that's always a good one yeah at least you're not duct taping the diapers yet no not yet but there is a lot of fluids a lot more fluids than i was ever expecting from every every direction matt you'll be there one day i'm uh i'm very jealous you know buddy it's it's easy just get it done get nothing else to do the quarantine

that's what we were discussing so i think i think this quarantine is going to be people closer together i don't know the fear i don't know if it's inducing stress or people to get closer together we've been i feel like we've been getting closer in my quarantine house i don't know i don't know about you guys are you guys getting antsy at all i've been good it's like you know it's well i mean you know i work from home anyway so like you know not a lot has changed but uh you know like you know wife working from home now too you know the baby and you know we're sort of like rotating here and it's uh it's been good it's uh it's it's uh it's nice to spend like this much time with the family i mean i'm great by me but i just think the point i was trying to

make is i just think the people in the tiny little apartments in the cities like that's going to put so much stress on those relationships i mean the good relationships will be stronger afterwards right but no yeah i think the good the yeah the how do you call it the um you draw the line at studio apartment yeah right like you have to have a secondary room that is not just the washroom so you can get some alone time right or at least go for a walk or something right because like dude if you only have one room and like you're young couple oh fuck that uh that was me and my wife are we live in a studio in new york it's 750 square foot i can't imagine being there uh not able to leave for the last two weeks we were getting antsy enough

like we've already been basically quarantined with the baby just because he's not allowed to mingle and be near bacteria so we were actually going antsy before we had to get out of dodge for the virus but you know like in japan it's like that's like pretty much like all couples right it's like 300 400 square foot like apartment with like baby uh well maybe that's why they're not having any babies anymore i'm not getting married that's why that's why nobody's getting married right there's no room yeah i think their birth rates are like 0.8 right now it's pretty pretty low they sell more yeah they sell more adult diapers and they sell baby diapers there that is true that is insane holy shit yeah it's the uh the world we live in you got fiat money

you're not able to save you know the money stress is a big stress compound that with very small apartment stress i can't imagine um yeah it's uh well i mean also culturally we're just not like adapted to that right i mean at least in japan they you know they've been using like paper walls for like ever yeah like you know culturally they have the right sort of you know mannerisms and ways of like handling each other in tight spaces like we we're just like you know we sneeze in public you know what i mean it's like we we clean our noses in a restaurant right like you're in japan and you like you you have some soup and you want to blow your nose on a piece of paper right it's not even snot or anything right and it's like you see the faces

man it's like you just like murdered a baby on the counter that has it has actually been one of my or one of the most interesting charts throughout this whole virus thing is the uh the growth of the cases uh and then pointing out which countries have a normalization of mask wearing like japan south korea singapore uh yeah all basically were able to crush it because they all wear masks already do you think it's gonna become more normal over here i mean i hope so it's hard to tell still right i mean i was trying to convince my my wife to wear a mask um like for just like to to go to the park uh and then sort of like just because i'm the street right like the way this stuff spreads it's like it's actually quite far um and any mask will do for this crap

right i mean of course better masks better protection but like so but the social stigma right in like like especially like british ex-british colonies or british culture right i mean americans have a lot of that too it's like covering the face it's like it's a massive social thing we just can't handle it right it's it's it's like people look at you like whoa uh you know i i don't give a fuck i just wear it and that's it so i think that you know the more it's kind of like buying bitcoin too right it's like the more people out there doing it everybody joins right so do your duty wear it um we can move on from this i'm kind of annoyed of the argument between the two sort of sides of this thing it's like when it's like the overreaction

people the other one is like the the nothing is going on people it's like jesus man it's like cheap insurance you know it's like you buy some crap for your house and you wear some ppe as the media puts it and we move on with our lives well it's like the you know the the articles that get the clicks are either the extreme fear or like the extreme reassuring and really the reality is somewhere right in the middle but we've noticed the same exact i've noticed the same exact thing with the mask stigma down here which is the it's the weirdest thing you know people are like fine with the full economic shutdown they're fine with like quarantine at home they're fine with like increased surveillance but god forbid they wear a mask out in public and not the masks and then

we have our government government telling people that masks don't help but like standing six feet apart does which is like the most ridiculous it's it's uh it's it's it's it's like negligent bearing criminal you know like and i hear like health officials doctors just specialists right it's like complete utter nonsense on like how they describe this stuff it's just amazing like and none of this shit is new like i mean you wouldn't be able to get like like a hospital like a like a dock like a loading dock none of the stuff insured if if if masks and gloves didn't work right hazardous hazardous work needs insurance right and insurance actuaries work based on actual numbers on accidents right so you know they calculate their stuff based on

protection and equipment and the liabilities on that so it's like it's not a matter of like who's saying the truth or not it's like there's the actual like market like pricing in of this stuff oh wait sorry i don't want to be rude nothing is priced in uh no it is crazy it is no it is socially jarring for somebody who's never had to wear a mask up until this point it's like ah where i am right now if i like luckily i'm in a town where there's basically nobody here because it's a it's a summer vacation town um it uh like when we go to walk on the beach if i were to like wear a mask down there like the one person i saw would probably be like what the hell are you doing take that off yeah i mean you know like i find that like some places it's uh

it's just you know like now it doesn't matter anymore now every like if you go inside a supermarket like you you see enough you see enough people wearing now in toronto that you still look like a weirdo but at least like you look like an your average weirdo now uh but like you know some areas you know wear a pollution mask is better than nothing even a scarf helps because it's droplet right so original government like uh advice on this was based on airborne right so like it's uh it's more like a like a loose particulate in the air so that that kind of contaminant you need the proper seal, right? And you need the appropriate because you just travel around kind of like a, not like a, almost like a gas, right? It's like in between a gas and

a big thing. But, you know, since this thing is in a droplet, droplet is much bigger and it doesn't really like fly around as much in the same way. So, you know, like anything helps because anything is going to bump against a a drop of sort of like water in the air right uh and and we only know this for about 112 years sorry 102 years um it's kind of funny how the you know the influenza lessons the spanish flu didn't really sort of sink into media yet there's just a few books about it uh not a lot of writing on it uh well it's oh man that's just so aggravating yeah no not the media parts aggravating matt and i like matt alluded to earlier we we had this discussion after we recorded last night like it's somewhere there's like a lot of nuance

and the media just drives it to each each end of the polarization it's like fuck well that's how got the clicks right click click click but aren't they supposed to inform and report yeah yeah they've been informing since ever right there is there is nothing like the the media around the spanish influenza too it's kind of amazing how like you read some of those books that that tell the storyline is exactly the same it's like people learn nothing the literal same way first to minimize it it's just a flu no joke that just the flu came from then like they were like states yeah like in the world like there were places in the world say oh no it's just another flu and then and then like the only reason why spain like the the name spanish flu came from is because

spain was the only country that was not part like they don't take sides yet on world war one um so like they were the only country like uh uh how they call it like uh reporting uh um publicly about the cases right so it looked like people were only dying in spain so it became known as the spanish flu and the uh the people engaged in war just didn't want to report it isn't that how it spread like because it went away during the summer and then it started spreading again in the in the winter and didn't spread because the u.s troops were traveling throughout europe and back yeah so one of the main theories they don't know exactly where it came from right like there is no i think final answer on that but but the the actual spread spread came from american troops

being deployed and because it was cold the the american troops will huddle around the fire and they would breathe each other's droplets and uh without ppe and and it will all get sick and then spread to more people especially the the professional working ladies near the bases uh and uh and then uh and then you know how nobody in the towns uses the brothels right and then it would also spread there that way too uh yeah i know it was it's pretty devastating um it's uh it's it's quite amazing how like the the playbook is not it's not different i mean politicians minimizing it and then war bonds and then

war parade for bonds and then you know people want to still do it because they need the money it's all the same well we don't need war bonds anymore because now we can just print our money yeah platinum coin I want a platinum

coin you just need it for novelty at this point yeah why even print a platinum coin if the Fed has infinite cash why does any of this matter anymore it's amazing isn't it like how that dude just goes and the boogie eyes right like infinite money we can print infinite money the fed has infinite money and it's like business as usual is is this the weirdest time ever to be alive with everything that's going on it it truly is remarkable isn't it like it's uh

it's just it's just so cool and sad at the same time yeah you know the average person is gonna get wrecked right i mean it's just just is right that's uh no it's fucking scary that's what i do you see civil unrest coming either of you two ah not here Yeah, I mean, Canada. I don't think so. You guys are lucky. Everybody's nice up there.

You think we're going to have civil unrest in America as a result of this? It's hard to tell, right? Because it's a little too early. Again, right? That's the problem. Humans cannot see exponential growth, period. It's just we can't. We can count to 10 bananas because we have 10 fingers, but we can't see exponential growth.

So whenever it feels like it's too early, that's the right time to do stuff because then it's too late immediately, right after. So, I mean, there's already police stations in the U.S. saying that they're not going to deal with petty crime or home invasions and things like that. um it's uh what's tricky about this the like civil stuff is um so mixed income uh areas uh are gonna see like a lot of interesting uh we could see a lot of interesting unrest because you know that's where you have stuff to get from somebody else right and that's where you really have some professional bad guys um the it's it's hard to imagine places where it's a little bit

more even or a little bit less dense to have that right because to a certain extent everybody you know knows somebody you know what i mean or at least like you know the person is in kind of same situation at least for now um don't know many guys just passed china man the flippity between u.s and china for cases really happened not that the china numbers were correct at all right but uh still though it's uh it's pretty interesting uh and new york's getting merked and like you said i'm happy i left early prepped early luckily you do not want to be land yeah landlocked with like 1.5 million people way more than that uh 11 11.5 million people no no manhattan right it's it's 1.5 manhattan's like i think like six oh holy crap yeah definitely don't want to be

there i uh maybe in yonkers yeah the and the mypd wasn't wearing masks for a while they just started so that's that's not too that's not too great but uh yeah man i still remember going yeah the testing has you know we do have we i do we have the most cases in the world now but the testing has been good they've been doing a lot of testing so i mean as you said the chinese numbers are are obviously manipulated and uh you know maybe the reason we have so many cases is because we we're testing better than a lot of other western countries at least well i mean canada i know one of the guys who works in the in the the how do you call that like the logistics group for Toronto in the COVID response by the hospital system here.

And the guy was telling me like, this was a couple of weeks ago. I don't know now. No, this was a week ago. He was saying that they could only test 100 a day and the government was approving 140 a day for his, for his like response team and stuff. You know, Toronto is like third biggest city in North America. There's 6 million people here. and you know like these guys were not able to test i mean so like the numbers of course are

small and then there is all the asymptomatic people too i don't think people appreciate how impossible the situation is it's like the literal only thing we can do is not get infected and not infect other people right i mean we can all argue to death like how bad this stuff is how not bad this stuff is and the economical impact and stuff but like the only decent thing you can do as a human right now is just not get sick and not get other people sick no matter with like how severe this stuff is and we can hash out the stuff after but you know uh people are going to factories here we we economy still sort of going a lot of people getting fired and stuff a lot of employers using as an excuse to fire people too um especially because the the feds removed the

weight for employment insurance now it's immediate so like you know the conversation is like hey buddy you know we don't know how it's going to be after this economical shit show so like uh bye bye we need to save some money no it is no and again i've been saying this for months now it feels like i'm still very confused about everything that's going on but i am acting responsible and self-isolating and staying in and getting food delivered and all that shit just the error on the side of caution right i mean you know some people can't right like i mean i was talking to my father right and in brazil like you know people were like people first was like as usual brazilians right like it's like when the one day is like whatever right the literal next day

everybody's freaking out right and then the third day everybody's like fuck if i don't go to work i can't eat and so like people are freaking out in brazil because like you know in brazil like there really is no way of saving right like i mean people are screwed there is no credit the way that there is here and and the banks are very healthy there because the banks make so much money out of the population there uh ironically and uh uh so but you know like over there just in like traffic accidents and like basic like like deaths or whatever like brazil has like you know civil war numbers on a good day right of like that so like you know for their perspective right like this stuff is not as much of a big deal it really their reality

is already completely different right but for us here i mean this this could be a big deal right so you know why why not uh why not handle this with a little bit more care and it's like you know if you can work from home right like i mean if you really can't you can't right like it's going to be different for different people but like you know listen don't listen to the politicians always do the opposite yeah well the politicians obviously don't know what's going on did you see Boris Johnson's got it. He's positive now. One of the royals also have it.

Boris was shaking hands with corona patients. That's right. Trudeau's wife got it. Tom Hanks has it. How does your wife get it and you don't get it? Like, I feel like, I don't know. For politicians, it's easy, right? Those people are never together.

Don't you watch TV shows? intrigues what's going on with Trudeau do you like him as a president oh god man that dude is insufferable insufferable like it's

he's so woke though it's not like the guy is woke totalitarian leaning and very socialist as long as you know nobody touches his trust fund that's not in Canada right like it's ridiculous right like the guy comes from an extremely wealthy family that's been around forever you know only worked because you know like oh i need something to do i'm

gonna be a drama teacher um and uh yeah the guy's response to this has been a disaster essentially 90 of the kids in canada come from like imported right so airports and they were not checking anybody at airports they were not people were not self-quarantining after the airports they were not even screening people at airports i think we have like you know like three international airports four maybe it's not exactly hard to put a bus at the airport just take people home right uh yeah no same what's going on here yeah yeah but we're a big country. I just hope they don't raise taxes. Yeah. I just hope

they don't raise taxes here. That's all. That's all I care. Is that on the table right now? Well, they tried to do a power grab here. They have a minority government. So essentially what it means is that the party in power doesn't have

enough votes to pass stuff. So they need either of the two parties to join them or the other main party right to vote with them those those morons didn't realize they have a minority and they try to pass this insane bill that gives them absolute power for two years for like to tax without parliament approval and do all kinds of crap and they just kind of like forgot that they can't get it through or something they are so bad man they're so bad um but they're just mediocre

enough that we're gonna keep on voting them in probably yeah i don't know i think we might be at like an inflection point where people are like oh my god how can all these governments be so fucking incompetent like why do we need them why do we pay taxes if they're gonna just print the money i don't know man there is there's zero responsibility zero personal responsibility in the world that i don't i don't i don't have any hopes on that reality is you know most people don't want to deal with problems so like they don't want to save fuck it's infuriating right like you know like a country like canada u.s situation is a little bit trickier but in canada i mean you know like majority of the population great majority of the population has

like enough income to be able to save right but buying that latest iphone and that big tv and you know like and eating out and stuff it's more important than saving so like you know people don't have like two months worth of of cash to survive you know what i mean like i was amazed that like you know the world is gonna end because people don't go to work for a week it's insane you know i get it right like some places like brazil dude it's like people don't have the money to live right now with a job right it's it's completely different situation right like personal responsibility is a little trickier there right but places that are like a little bit more economically evolved like come on right it's uh but nobody wants to talk about that right you

never get you elected you know nobody wants to be that asshole that goes on tv and says you should save more and not spend your money i mean the economy depends on people not saving we see that hurdle all the time with bitcoiners with bitcoin like newcomers coming into bitcoin because like our whole world has been just stripped of any kind of personal responsibility and in bitcoin you need to have a shit ton of personal responsibility so like for a lot of people that's like ridiculous to get over their head to to to realize that you know they're responsible for their own shit yeah i don't know man and yeah it's just it's uh you know i was an immigrant you know like i didn't have money you know you just like you save and you build your

thing and you know and you work and then you know you build a life right it's like you know some people are gonna have like bigger issues that are inherent to them you know that be you know like just capacity of working or physical capabilities whatever it is that people are not equal that way um you know i don't have a perfect answer how to deal with like that but but that's not the majority we can't we can't design a world to the lowest common denominator right like it's uh it's uh it's it's like it's it's time to to wake up and and if we keep on i mean you know if we keep on printing six trillion dollars uh to to to to give what what is it like it's gonna cost like twenty thousand dollars to give everybody a thousand dollars in the u.s so like if you keep

on doing that we get taxed on that thousand right it's like at some point we're gonna have to pay for it i don't know man like these guys are good there's a lot of very smart people like that work in this stuff right like like government like sort of like the shenanigans group right like this guy is like i mean they're very incompetent to some things but like they're not stupid right like there's very smart people there um i mean look at 2008 right like those guys managed to turn the shit around i mean listen they they took it back from the people via you know essentially like making their money be worth less but but they did manage to not have like civil wars um but uh but but eventually like you run out of gas right like to to play that game

yeah i mean yeah i would argue they just kick the can down the road and now we're down the road where the can is and it's like all right do we kick this motherfucker again they're trying to do but again you have cash cari being like we can we have infinite cash uh the numbers are just getting fucking huge six trillion the fed's balance sheet shot up to five point around 5.5 trillion already it's uh about a trillion over what where it was at the height of qe the last cycle the numbers are gonna get massive wasn't it already insane yeah like the american debt was already unpayable anyways right so it's like in their minds it's like we're just gonna slip in another zero and who cares right like

it's like these guys are already playing a magical world right like it's like a population doesn't have any sense of this and I mean not even like nobody can make sense of this these numbers don't exist in the human mind well they're about to put like

the word on the street is to just keep the economy in stasis they're gonna have to print something like 45 trillion dollars to get their balance sheet up to that height which is almost 10x some helicopter money and buy bitcoin i don't even know if i'm like eligible for the helicopter money that's the other yeah so this is yeah this is what bothers me it's it's like so for example

in germany right it's like they want to have a semi-socialist state there fine but then they're gonna so what they do is they essentially like almost the whole population unless you're truly poor right everybody pays essentially 50 income tax there right like almost everybody because you know what you're using the services but what pisses me off in north america is that like you know what i mean like you have a massive quadrant of the population that wants to buy the latest iphone but doesn't want to partake in paying for the services it's like you got to pick man it's like or get off the pot it's like it's either socialism or not and then this bullshit middle is where like the cronies make the money yeah it's um i mean i hope people wake

up to it this time and i think people are i don't think i don't think they're gonna get away with it this time uh i think i mean this and this is the sovereign individual thesis right like we're transitioning into this digital age and i think everything's gonna get balkanized from here on out i don't know man i i don't ever underestimate the capacity of governments of getting away your shit it's uh they're fucking pros at that man the bureaucracy just creates poor bureaucracy it's like dude the biggest employer of canada is the canada revenue agency they surpassed the army what it's yeah so so this last like this last government just kept on creating like look look it's look how brilliant and evil this is okay so these guys instead of coming up with ubi

for like like big like biggish cities that are far away right that don't have a lot of jobs they essentially open canada revenue like our ira right irs uh they open canada revenue offices in those in those cities and they hired like a lot of the population so essentially like these mining towns became like canada revenue agents so it's like you make the ubi system by essentially government jobs to collect taxes it's like like wow man that's like next level evil man but this stuff always sets ahead right it's going to get to a point where it's literally you can't get any more centralized like hey this obviously isn't fucking working yeah well i mean you know eventually there is no more taxes to

collect right because you drove all the productive people away right i mean i you know like all the like there's so many young people i know who left canada you know they took their their btc they were you know they don't want to be like tax cheats nobody wants to like deal with the the issues of like not pay taxes and shit like that right like plus it's the criminal um so pack up and go right i mean you don't have young families you don't like you're you're like you know a young rich nomad very intelligent like bye right like it's like i'm not gonna give you a huge chunk of my value the roads didn't make bitcoin be worth more they love the roads it's always about the fucking roads it's always the roads the fucking roads but the roads didn't make bitcoin be worth

more get your hands off my pocket ah should we shift to some bitcoin talk canada some great roads though yeah well ontario does quebec dude no you you know when you cross the border between ontario and quebec it's like it's like french run stuff dude like dude french government stuff like if we have bad government at least we have british bad government you know like the french is just like a whole other level dude like just ask friends this man it's just wow wow and and you know and the french don't really like civil liberties either right so they actually ban the the headscarf in government offices in quebec like that's how bad it is yeah and they're paris is having like a crazy outbreak now too right

yeah they had oh my wife was telling me man i can't believe on the morons so they had one last hurrah before before going into quarantine the whole town went to to the park to celebrate together hope to see some of you in a month let's get each other sick lock each other in our houses unbelievable unbelievable oh man i love paris what a great place being a tourist in this place is awesome living in those places no like yeah i can't imagine living there i mean the airbnb i stayed in paris when we went

like a year and a half ago the water wasn't great the like the space heater cooked me overnight it was insane but maybe i was just very old infrastructure yeah like the houses are very old like some places like you know the couch is gonna be as old as the apartment because they never like they had turnover in ownership of the apartment or rented apartment but the sofa was never taken out because it's just too hard too big so it's kind of cool there is some very old furniture in some of those places what um what's going on with cold card let's talk about the uh the cold power that thing looks pretty fucking dope oh cold power yeah so uh i told man i don't have a battery check it out so fucking awesome it's like tiny so you put that on a battery and

and you can plug your USB connected to your cold card in? So I spent like about a year looking for a AA 5-volt power supply, right? Like something I could just sort of buy and then resell or, you know, repackage or whatever, right? Because like I want dumb power.

I don't want like a lithium battery because it's a pain in the ass to ship as well to customers. there's the issues with all these power supplies, they're all using the same Chinese modules that are smart what a lot of people don't know is that there is actually data going

through power as well in some USB specs so even if you cut the data lines there's still data going through via power and USB PD actually has proper data through the power

so USB C and qi also has data by the way so if you use those wireless charging devices they have data between each other that's how they tell each other uh sort of like what kind of power to use and then uh there is this very smart uh so i couldn't i couldn't find anything that was reasonable uh i wanted to make a very tiny device so i can keep it in my pocket kind of thing um and uh i didn't want the usb condoms because you could still have some shenanigans going through the power that way uh like a prop or power isolation is very hard um so i wanted something that was originally like double a's right but then double a's like it makes it much

bigger you need the you need to create sockets and so you need to like have all the mechanics to handle it so you'd make the product thicker and i couldn't just ship in an envelope so then i'm like you know like let's use nine volt batteries i love nine volt batteries they're like they're like high voltage so uh so if you so if you're not using the full voltage like you get a lot of amps uh and they're designed to last a long time right that's why you use them in smoke alarms. So that means that you can find a spare one no matter where you are. There's always a place to get a nine volt battery. And what's cool is that they use these very tiny little connectors, right? And we found a supplier, they cost a little bit more money,

but we found one that we could solder right on top of the board, the connectors. So it's It's just a two-sided board. The connectors are there. It's like super thin. I was going to put a male microSD to go straight to the cold card, but then I'm like, no, let's just make it standard USB-A so that it can plug anything else there to charge to. So in a snag, you have a little emergency device. You can even make it into a flashlight with one of those USB flashlight things and have a little, you know, power device. So dope.

And then we put a little bit of our aesthetics and comedy in there, you know. It's a USB PPE tin foil mode. The ultimate prepper tool. You actually printed PPE on it. I love it. That's right. We were like, oh, we still have a little bit of room.

we tried a few different things like no we need a little bit of comedy i really i dig the open board i just just like the open it's nice right i i don't know there's a lot of i get a lot of satisfaction out of uh out of having like bare board devices that are like reasonably safe to use bare board um yeah don't know if too many people get shocked or something not that that's really possible five volts but they put their tongues on it maybe i'll put some epoxy on the top part to cover the parts i don't know putting their tongues on things yeah that's my my uh most well known experience with the nine volt batteries putting my tongue on it as a kid every kid man every kid we've all done it i never did you also burn

oh marty it's never too late sorry matt is never too late just go find a fire alarm in the house there and do it i'm gonna hold you liable if something happens yeah you gotta just yeah get both things done in the quarantine put your tongue on a battery and make a baby yeah checklist very small checklist two things get one done in seconds and the other takes about three quarters of a year. That's right. Oh, another fun thing to do with 9-volt batteries. Don't do this at home unless you're an expert.

You get the steel wool and you just touch it with the 9-volt battery and you burn the steel wool. So satisfying. I never knew that one. Yeah. so the whole has to be the finn stuff the thin battery or thin stool no the finn steel wool right like the because nowadays they have the modern steel wool yes steel wool yeah don't be racist i have an accent i'm sorry i'm sorry is your accent brazilian or canadian i can't tell

is it both oh man uh yeah we need to do uh i need to i was thinking should do like a zoom thing with like few people and uh just have like chats about stuff maybe not even like recorded or live or anything just like big hangouts a dragon's den hangout we should move that to uh to zoom well for that we have the lizard people software blockstream makes a a zoom competitor it's only for dragons and small blockers yeah you have to connect to their satellite secret password that's right uh yeah man what are your thoughts i was gonna say what are your thoughts on the state of bitcoin right now we just had a big

downward difficulty adjustment the halving's priced in the world's going to shit is bitcoin in a good spot well you know uh you're never going to be able to buy bitcoin below seven thousand again no eight thousand it's just go ahead i was gonna say eight thousand was hodl's uh american hodl's line hodl not said 10 000 we're never going to go below 10 000 the next time we go over it i think i've been saying that since like a since it's like a thousand you're never going to be able to buy this below this anymore it's like it's just so much fun right i it's just it's it's so funny right to have this asset that does essentially like 10x every two three years and it's like it's like people freaking out it's like when it moves a bit a day and then you know

and then i'm talking with like you know like trader friends or like finance friends you know and we're discussing with stocks and things like that i'm like but all this stuff is so boring right like you're gonna make five percent whoa the market is down five percent the world is over it's like bitcoin moves five percent in the like the last five minutes and then he went another 20 percent and then he went up 30 right like it's like the roller coaster is so much more interesting yeah it reminded me of the uh the michael the michael goldstein tweet you a wall street trader patting yourself on the back for 20 gains in a year me a long-term hodler making 10 000 percent doing nothing sitting on my ass for for four years yeah it's uh it's quite fascinating

and gold i mean it's just a slug like it's just man it's a yellow lead right it's just like it's this heavy thing people are realizing very fast you can't you can't there's the logistics of gold Yep, we just lost him. He has poor internet at his bug out connection. He'll come back in a sec. But yeah, it really, you know, it kind of ruined the stock market for me. i'm like you know it's it's uh i i don't even know what what like to compare that to but it just it ruined the stock market for me and it also ruined gambling a lot because it's just

it's yeah it's just like it's all small potatoes compared to to bitcoin um and the moves very tiny gains right like it's like you know if you have like if you have real money to play right in the traditional markets it's like you can make good money right but but consumer level money right so like your average retail investor dude you can't make money in the market like it's just what people don't realize is that like you lose you know a good five seven percent on the two sides of the trade right so when you buy you're paying a spread to your broker and you're paying fees and if you don't have fees trust me the spread is bigger right yeah so so and then when you try to sell the the stocks right you're gonna pay again the

fees and the spread so when you put the two together you're often losing money um you know because it's so hard to make more than say five seven percent as a retail investor on stocks you know in a in a sort of short to mid term um so uh so yeah so you essentially yeah and on top of that yeah on top of that like the research needed to actually make good trades it's huge retail investors don't have that time yeah uh i think that time or that that i think the problem with stocks is that, well, two things really. One, you know, after the depression, you know, the amount of regulation and bullshit that went into it ruined it because the information is asymmetric. So if you're a retail investor, you have to play by the rules and you don't

have you just don't have the insider knowledge about the stuff and then if you are a big player, you just have the volume to play

into front run and everything else. So you can't play, man. It's the little guy on that. Then you know gold has paper gold paper gold look at the spread right now between paper gold and uh physical gold is amazing like paper gold is so right like what's going well that's uh your fellow canadian roy sebeg has been tweeting a lot about that

like do you think the uh the long-rumored suppression of price via the paper markets is finally breaking because no the virus or because people are demanding physical i think it's a mix of different sort of things it's not like uh it's not a very binary situation right so you have issues the logistics right so you know moving gold from one institution to another who's holding the paper gold for a lot of people it's not that simple uh two you know of course a lot more paper money than those guys have in gold. And then, you know, then there is the trap, right? So look at the, there were a bunch of American banks that killed their gold investment products, right? Because, so what happens is if you have paper gold,

let's assume that nobody's nefarious here, right? Like, and everybody's playing by the rules and everything is awesome, right? Like that song. But what you have here is if you have paper gold, you're beholden to the institution that you own that asset with, right? So if any law comes in or any issue arises, right, they're going to force you to liquidate, right? Because you can't take possession of that gold, right? I guarantee you that a lot of those gold contracts are paper only, right? They don't have any risk, like there's no physical delivery, right? So they will liquidate you at a price that is favorable to them, right?

And it also could be like the bottom of the market, right? Or the bottom of the market for that week or something, right? So once you price that in, just that alone should cover the difference that we have right now between the paper market and the physical market, right? Just that possibility, that uncertainty of you getting liquidated and that assuming that you're going to get liquidated and paid, right? So when you add that in, right, and then on the physical side, you have all the logistical issues with it like it becomes a problem right like i mean a kilo of gold is uh is what like

50 000 us dollars or 70 i can't remember you know anyways it's either 70 or 50 it's trading out either 70 or 50 because i can't remember which one is canadian which one is not anyways um so like but a kilo is to a kilo right so that's like two and a half pounds so now imagine like you know people putting their they're like the average middle class savings right like or or like they say they remortgage the house and so a few hundred thousand dollars we're not even talking about like like investor money right so just like a few hundred thousand dollars worth of gold man you need wheels like you can't like the stuff like you can't carry it you can't take it in an airplane you can't like physically put that in your house what you're gonna buy uh you know

like $20,000 safe to fit a few hundred thousand dollars worth of gold and install that and deal with the security of that. It's just completely unrealistic, right? So Bitcoin solves that problem. Yeah, I'd rather put $200,000. A very wise person once said that Bitcoin is just copy and paste just copy and paste right matt it's uh you said that yesterday i uh it is just copy it's just copy and paste that's pretty amazing it's it's a game changer i do you think that there will be do you think though that bitcoin Bitcoin is kind of immune from that kind of issue in terms of paper claims. There will be paper markets for Bitcoin.

There's nothing wrong with that. It's stupid, but there's nothing wrong with that. I want all the markets for Bitcoin. I want all the leverages, everything, because all those things help stabilize Bitcoin. Stig Brodersen Yeah. Preston Pysh It'll definitely happen. Stig Brodersen Yeah. Preston Pysh It already is happening.

Stig Brodersen Look at GBTC, right? I mean, I haven't read their contract, but I'm sure that you don't get physical delivery and you could be liquidated if they had to, and you could be liquidated in a non-favorable rate. Preston Pysh But the weird thing, I mean, because GBTC has no competition in the market and it's not a real ETF, it trades at a premium. I'd expect the reverse to be true, as the market develops more, right? Where like the paper is actually at a discount than actually taking custody of your own Bitcoin, buying

real Bitcoin. Same with gold, right? You will find its way there. It's kind of interesting. I can't remember who I was talking to about this, but Bitcoin is so tiny right the market is so tiny that uh you know when people talk about like you know coupling decoupling with the markets and all that stuff it's fun to just shit post about that but like it's so like tiny and irrelevant comparing to the actual financial markets like it's just dude it's like apple could buy all bitcoin like tomorrow if you know regardless if people are going to sell it or not that's a different story but apple could just buy all bitcoin tomorrow

cash that's one company right that's like it's just so tiny of a market right right now so when people talk about financial markets versus bitcoin and how it's like correlated uncorrelated inversely correlated sideways correlated it's like it's just so stupid because it's like it's completely irrelevant it completely irrelevant um you know like so how many millionaires do we have in the world like probably like a few hundred million millionaires in the world would you say that i i have no idea i would right i i know we have like i think 25 more millionaires than there are bitcoin 25 25 million high net worth individuals which is like 20 million dollars or more okay so So there you go.

So 25 million of those, right? You said. Yeah. So that's a lot of people. So if only a few of them, like just say like a hundred of them, right? Decide to buy a hundred million dollars worth of Bitcoin. So like each of them buying one million today, right?

They would move the market. A hundred million dollars today moves the market. Yeah. i mean i was just the episode i just posted with michael krieger he was saying it's actually beautiful for the little man right because those big investors they don't want to move the price that much when they get in uh and they will inevitably do that so it gives the little guy time to to stack sats and dca and and you know like just thinking about like like basics here right like for example you know we're in canada we have a currency that goes up and down against

the dollar right more down these days than up but um so just just holding bitcoin right like for like for one one bitcoin cycle over one bitcoin cycle right um you already hedged against like the the canadian depreciation um you know the canadian dollar lost like 20 30 percent in last 10 years right so um you know just just holding through that you know aside from the upside of bitcoin 10xing every two three years uh you know like you have a reasonable hedge against this stuff right because like gold doesn't really follow this stuff and it slugs out like it has like a huge time delay to catch up with stuff um i mean where is this like amazing asset of final security right like i mean gold should be like you know two xing right now at a minimum

right the world going upside down like this and it's not it's like oh look i made 10 percent well i right i think one of the big differences between gold and bitcoin here is that like gold markets even physical delivered stuff is is like heavily regulated and it's like it feels just like manipulated at its core i think it's like super important that we have these relatively liquid like global exchanges that are in all these different jurisdictions it really changes the game in terms of like market discovery price discovery i don't know about us but in canada we can buy gold online with a credit card so you can get miles so you can buy your bars of gold coins of gold talk about like any amount of gold right you can get delivered by fedex no joke like you can

get a few bars of gold in your they'll leave it on your porch and it's so heavy right that like a tiny little box it looks like you know it'll look like a like a box of screws right because it's like it's so heavy for the amount of space it is they think you know people are going to is ammo um and it it's uh it's fascinating right uh that you can get the stuff so fast but uh and actually all the gold retailers here that i know of are essentially out of stock of all the small stuff there's only like kilo bars left so so people are flat fleeing talk about fleeing who was that lady that did the the press conference for us your money is safe you don't need to take your money out of the bank

it's safe yeah what does FDIC stand for again Matt? Federal Deposit Insurance Federal Deposit Insurance Company it's amazing and you guys at least have

$250 per account right? I think here for us $250 up to $250 here's $100 per institution oh shit yeah exactly oh shit and there is no insurance for the deposits

yeah and the that video that you're referencing was hilarious because she's like we haven't had any problems since the great depression it's like why are you referencing that right now at this point like money is safer you know somebody joked on my tweet about that they said that binance is probably safer right now wouldn't be surprised i don't know about that i don't know man but going back right like yeah well that's the other thing here like people are worried about people making runs on atms in the bank for cash again i've said this many times already like last couple weeks like i don't think people should be worried about that like the fed has come out and

said it we just switch a number in the computer like don't worry about it like your your bank account you'll be able to use your debit card like don't know it's interesting whether or not that money will be worth anything i think they're following like what i thought is the u.s would never have negative interest i don't think the u.s will ever have negative interest it just goes against the philosophical sort of mindset of the of your country uh it's interesting i think they would just bring their way out of it but they won't go into negative interest yeah but it's essentially negative interest already just because the number number up not number down they understand that branding concept it's got to stay above the x-axis yeah

and now i had kyle bass on a couple weeks ago he's pretty well connected to the banking system and some federal reserve board members and he said yeah there's nobody there's not enough people on the federal reserve who would allow that to happen like they're all pretty starkly against yeah we're pretty close though but it kind of makes sense too right i mean yeah i mean yeah i don't know man none of this stuff makes any sense i'm not smart enough and understanding enough to like i have a proper opinion about the the insanity of of how the the this whole magical number system works right i mean they have the terms and the legalese for everything right so it's like everything's very well explained it's just that it makes no mathematical sense

well and now like if this bill gets signed into law that they're trying to pass here in the states i believe there's a clause it's been going around on twitter at least that the federal reserve now doesn't have to disclose any minutes or or what they do with the money like which already i mean they already don't disclose their books but now they don't even have to give an explanation of why they put in a certain amount of money if you're able to see their balance but come on right those meetings are ceremonial right i mean like those i mean seriously right like i bet those guys are on zoom right now having a private meeting because they don't even know how to work out the encryption right they're totally on zoom figuring out like

you know hey jesse so uh so what do you think do we go do we go trillion or quadrillion today right like and you know they started okay now we have to go have our meeting and make the minutes of it but they got bored right they don't want to get infected so they don't want to have a real meeting anymore that's probably why it's it's corona related they're not even doing zoom they're probably doing it in gchat yeah and hopefully wiki wiki leaks is uh is is getting that that data would be really funny if they use that telegram because they're russian company um that is it is so insane though again like the numbers are getting so fucking high

i think i think they're getting high enough to the point where even the plebs are gonna be like wait that's way too high what's going on here yeah it's uh i i i don't know man the more i get older the last hope i have for the average person in terms of like one wanting to have the personal responsibility and two uh not well i guess it's all part of the same coin like people want to be blissfully ignorant man like you know people have other problems in their lives it's the same reason why bitcoin is such a hurdle for people to write like you just bitcoin is personal responsibility like it really is it's like the it's the it's the monetary sort of impersonation of personal of responsibility and and it's like the average person just doesn't fucking deal with it right

like i mean they want to just you know go to their job in the morning do the thing come back not have risk uh you know buy the stuff that they see advertised and that's it right it's just that like it's just it's like the codeine of society right it's just just that buzz of just going on and going on right and that was not the reality of the world you know like 100 years ago people Well, at risk. Exactly. Is this just a blip? Is this just a blip in history?

Like, are we going to be forced to be more personally responsible? They make it intentionally complex so that it's super overwhelming to try and figure out. Which is why I love Bitcoin because who the fuck has time for that? But for most people, like, you'd rather just ignore it, you know? You're not going to pay attention to what's going on there because it's just, it just seems too complicated. You think you don't get it. Yeah. I mean, it's like, and it's not even nefarious, right? It's just the bureaucracy wants more bureaucracy, right? Like, it's like, I'm not a huge conspiracy guy. It's like, just,

it's just a bunch of like office busy bees creating more office busy bees, right? It's like, that's true for any government agency, right? It's just, and then you have buddies and you want your buddies to make money too. So you can get cronyism and you just get more bureaucracy. It's not like you know like some lizard people in a room sort of saying ha ha ha one more zero oh man it's uh yeah i i don't think it's gonna change and and i think that my my intuition on this is it's like let's say bitcoin you know takes over right like i mean not take over the whole world kind of thing but just like sort of like you know we're talking about like another two zeros in terms of adoption right so and in terms of price so we have like

uh it's still a kiddie play but apple can't buy it anymore right so i think what's gonna happen is we're going to see the exact same ratio of people that used to buy paper gold are going to buy paper Bitcoin. People that used to buy the ETFs and indexes are going to buy the ETFs and indexes of like shitcoin, Bitcoin or whatever, right? It's going to be the exact same because you cannot remove humanity from humans, right? It's our burden to carry. It's like most people are going to just screw themselves you don't but is there like a difference with bitcoin because of the utility of utxos and we can leverage them to do blockchain right no it's it's like it just is right i mean like most people are just not gonna ever want to be

their own bank i think that's just the reality of it you know that's why you know the products that i make i'm interested in in like serving the people that want to take that responsibility um it's just it's it's in everything i do all day and i it's a i'm gonna focus on that and i'm gonna let like ledger and coinbase and you know this company sort of focus on the people that don't want that and hopefully we can make it easy enough to bring more people into the whole personal responsibility thing uh that that's the hope uh but but i just i i just i just i don't i'm a little i guess like more i would say pessimistic it's just like more realistic about like this the human the humanity of it yeah i think i think you make a really good point

sobering i'd like to um i like to try to trend towards the more optimistic like everybody come on be personally responsible well we don't need that right like it it's that humanism human nature is that optimism that's going to sell more people on it like good on you i guess it's just because like i don't know like it's like the i i'm i lived in a country where things were like brazil is complicated to say is it's a polite place like i think it's my father had this saying or like he used to say it's like the coefficient x right there is nothing you do in brazil that doesn't have a brazilian coefficient in it it's like it just is right it's like you You know, I think it was like Coca-Cola way back in the day, right?

Like they were trying to do the bottles in Brazil because you can't ship bottles, right? And they had issues where like the bottles would disappear, the bottles would break. It's just the leakage on everything you do there is just so insane. So like the cynicism towards politics, towards society embedded in me is very, was embedded as a Brazilian kid, right? I don't have this American frontier sort of like optimism about the governance, right? So much so that I came to Canada, not US at that time. I mean, I've changed a lot since, as a friend of mine put it, I've become feral.

But that's the thing that I love about America. it's like this this feralness this this sort of like this this eternal optimism about the frontier um does help push things forward uh and it does push towards the personal responsibility side even though in practice you guys have none when you look at the household numbers in the u.s yeah we're fucking fat and out of shape we don't have any personal responsibility you know uh well but you know my theory about europe and and uh and and being lean it has nothing to do with uh with a diet or anything like that it's just that people there don't have money to spend it's like you know people don't have disposable income in europe that's the difference americans

do for all the flaws americans have cash cash is great baby that is and guns lots of guns but damn yeah don't don't ever let go an inch on that man it's like canada was a place surprisingly interesting for guns for forever i mean it was a frontier country you know like uh there's a long history here of like gun ownership and stuff it's just uh it got neutered and neutered and neutered and neutered and every single you know we had like i think only 10 shootings in canada ever like uh you know it sucks it's awful right like piece of shit do that crazy person nobody denies that but there's only been 10 ever here and they they curtailed like the majority of like everything here we have insane gun laws

it was so funny uh with this whole quarantine thing and this whole like world ending kind of deal so many people went buying guns here like all the gun shops are out of stock and i was talking to the local uh gun shop and they were telling me like the amount of woke sort of like downtown uh as you guys call it like liberal woke there uh they uh like between 30 and 60 kind of thing uh would be calling the store and completely pissed off that they can't buy a gun and and they'd be saying but you know but my amp told me that i can i you know that we needed more gun regulation because anybody can buy a gun in canada it's a total lie right the politicians here just keep on banging that in right and we have insane laws you have to do a course

wait three months and then apply and then it's up taking like six months for you to get a license um so so anyway so do you have all this these people calling the gun stores and harassing they want to buy a gun they don't have a license and they voted for that the irony is not lost my friends well no i mean they're trying to take the guns here i mean they're they're trying to to win some ground in that war virginia is probably the uh around zero of that fight you guys have like rights it's a different thing right we don't have rights it's a privilege here it's like a driver's license it never it never was in canada we have very weird old british

sort of like subject like laws for a lot of stuff like property and things in practice turns out to be about the same right but like in theory in the legal theory of a lot of the stuff it's like you know we really don't have a lot of rights don't let go of niche

I mean but it's getting crazy it's getting to a head the socialist tendencies of Americans are growing where people that really don't understand what socialism is and want to hand out

are really pushing that. Well, they're going to get a rude awakening once they have to, you know, it's like once they all have to starve together. Right, that's one thing I'm actually surprised to see is that the food supply chain here during the quarantine is kept up pretty well well it must be because the socialism right

right well that was there was a couple tweets out there people like literally the day everybody freaked out went to the grocery store and uh and wiped out the the shelves people were taking pictures like capitalism doesn't work look the shelves are empty and then they're like completely restocked the next morning but those pictures aren't sure it's amazing market efficiency is beautiful right i mean you know if it wasn't for the supermarkets here like what is the government gonna do food delivery no it's like we'll all starve to death if it wasn't for price discovery it's as simple as that right i mean and then like the government morons in pretty much most countries have the same like they have like if you go look at the the like you know like uh advisories on

emergency response and things like that you know they say have 72 hours worth of food in the house dude you can't you can't just fast for 72 hours you can survive without water for three days it's bad but you can survive three days without water so like it's useless advice right like at a minimum a household should have three to two weeks of food but like really it should be a month or two months worth of food uh and yes you know like when you hear that some shit is going on go to the supermarket and fill up your shopping cart and bring it home don't wait for the government to tell you to to to go like deal with it same with masks buy masks use masks don't listen to the morons they don't have your interest at heart they really don't it's not their problem

they do not give a shit about you freaks all i know is i'm gonna use this virus as an excuse to wear masks for like at least a year after it after it ends like that's whenever marty knows whenever it gets cold i i just strap on a face mask anyway there you go man it's good for privacy i really enjoyed coming back from a conference uh i think was like a first week of february um i was going to the airport and it was so much fun to wear a mask in an airport oh man oh and the the what kind of looks it was great like it felt like it felt like i had this weird sort of like feeling of privacy in an airport they're like you know you you enter an airport you surrender your civil rights too right like by law like you're naked yeah it was very comforting

i totally get the burka now maybe i'll start wearing a burka i mean you know those ladies are totally probably like wearing like full fucking hazmat suits inside there you know like we would never know i mean they're good they're good uh for for part not particulate uh for for droplets right i think the breathing area there are bigger but but yeah i mean listen anything helps right so during the spanish flu uh what they figured out in hospitals is this i think was the john hopkins that figured this out uh so two things they would stagger people in the beds opposite it so that the breathing

was not going to other's faces so feet and mouth you know what I mean like feet and head kind of thing between their beds and then they wrapped the sick with gauze around their mouth so that one they wouldn't cough out more virus on somebody else so

any Asian country understands this right you wear a mask as a polite thing when you're sick so that you don't spit the stuff out and then like the doctors and everybody else were putting like you know mask gauzes fabric whatever they could find around their faces too and the plague the same during the black plague and like uh you know you do prevent stuff from coming into your

face it's like it's not that complicated it really isn't i mean japan is really curtailing this whole thing and everybody's like back at work you know and and like sardines in in like their subway system you know just wear a mask and glasses your eyes have receptors for this too yeah it's just socially it's just too weird for people here right now hopefully it becomes more socially acceptable but it is uh you are going to get yeah you know it doesn't help that they're white and like very on your face right i mean like uh you know just maybe a friendlier one, Hello Kitty masks. In Asia, they have them. How can you possibly be weirded out by somebody wearing a Hello Kitty mask, right? It's a nice cover. Maybe we'll put some of

these patches on masks and then people wear them. Yeah, we need to make some CoinKite branded masks. That'll be pretty dope. that'll be pretty mass velcro i want tftc masks that'll be pretty dope maybe maybe that's how it becomes normalized you just fucking capitalize off of it and make it a make it a fashion statement it could be with your favorite brand solves all the problems we could use this virus to beat back facial recognition like it could be the the positive thing that comes out of it you know masks for everyone yeah so unfortunately if I remember correctly like

most like the most used points for facial recognition is the eyebrow middle T like the T between your eyebrows and your nose so we're gonna need that sunglasses goggles man goggles goggles

and masks it's gonna be like walking Mr. Hoddles yeah it'll be pretty cool actually i mean just but you know just like uh just the feeling of privacy would be good enough right i guess people get a taste for it who knows but you know if you're living the right citadel maybe you won't need a mask because you know people are just reasonably kind to each other so we all non-aggression principle self-isolate and uh and we don't spread it's really the only thing you can do right now that's the work that's the world i want to live in yeah i'd share a

citadel with you guys i think i don't know we'd share a citadel network would take airships between our citadels pretty cool but you know and trade if you if you're like a wealthy person in like countries that are not like very wealthy like it already is like that right like you look at like condominium building uh like uh like condos in brazil for example right like you'll have like two three buildings in the same condominium and like they'll have like doormans double doors to get in because the crime and stuff and you know they have all kinds of services you know like it's like people don't interact with people already a lot in a lot of places right like they come out of the building in their armored car and you know it sucks it's not a world i

want to live in but uh but if people don't don't want to rise up uh we're gonna end up there anyways keep we're keeping it optimistic i think people are going to rise up yeah have you guys seen the i think people have had enough shit our mull and lab in of canada mind your own damn business that is hilarious that's your tread on that's your don't tread on me we have our little uh it's a beaver mind your own damn business that's uh that's hilarious is that well i mean real it's uh yeah there's no official right of this stuff but yeah like it's the all the the all the the gunnies in canada love love that one

don't tread on me flag is like a sanctioned flag isn't it man it's a weird one of that one In Texas, right? Texas or Arizona? I'm thinking Arizona for some reason. It's unfortunate that if you drew Venn diagrams of like, there is definitely more racists who like the flag that don't like the flag, right? So it's like, it's a tricky one because, you know, the poor flag has nothing to do with it. That symbol has nothing to do with racism or anything like that.

But it just happens that the Venn diagram interacts a little too far there. And then he creates this weird dynamics. Yeah, it's usually coupled with a Confederate flag. That's right. Yeah, man, got to move on, you know? That war was lost. The South will rise again. Yeah, well, this time would win, right?

I mean, all the people who own guns are in the South. All. And all the people who go into the military are from the South. so it's like you know like the national guard i'm sure the the the people who joined it i also like majorly like real america let's put it this way right and i i bet they're not gonna shoot their own no i mean you're seeing it in virginia again going back to virginia all like all the local municipalities are like fuck the the governor's law virginia went blue and the citizens the the silent majority are like uh you're not taking our guns we're gonna march

on the capitol and then the local sheriffs are like don't worry we're not gonna let them take your guns situation isn't it like i i don't understand people who votes for less riots it's just uh i mean voting you know we can get into a whole discussion about why voting is stupid in general like you know not even a point in going there but like the people who vote for last rights is so weird well they they're scared right they just leverage fear like this and say hey the government is in need of like of like wanting other people to control you it's like they are controlling you want to control others it's so weird it's like you want to control how other people live it's just so like foreign to me this idea of like ruling on people's lives

it's the personal responsibility thing again yeah exactly it goes back to the lack of personal responsibility it's like you know so for example right like the new hampshire doesn't have like uh you don't have to wear seat belts right uh which is which is pretty cool i mean i find that it's stupid but you know it's your choice right um in canada though is different so because we have essentially like a socialized health care right i you know like that externality is on my pocket so i support you know mandated cars like seat belts in canada because those imbeciles are gonna cost me money right they're gonna take away beds in the hospital you know but in a non-socialized healthcare place, right? Well, then it's priced in. It's pretty cool, right?

I mean, it's one of those very rare things that there is really, it's a great example of a very, like there's essentially no externality there. And you should have your personal liberty on that one. It's pretty cool. Maybe here, if you're not wearing a seatbelt, you don't get taken to the hospital and then the problem solved all right well yeah new hampshire is like this weird libertarian uh sandbox up here in the northeast of america i've never been new hampshire matt matt really like it's pretty cool i've been there i have a have a couple friends i have it's funny because i have like extremely lefty friends who live there uh they're university professors is in an extremely non uh lefty area of uh of new hampshire uh it's beautiful there they love it

but at the same time it's like it's kind of funny uh they're not into guns and things like that uh so uh i've been sort of slowly like come on guys you know do your duty live free or die it's weird because there's a there's a strange overlap there yeah uh in new hampshire because it's right next to vermont and vermont is one of our more socialist states and then you have new hampshire which is more libertarian and those borders are kind of fluid yeah it's an interesting dynamic yeah well there's a lot of people uh who who work in new hampshire and live sorry working in vermont and live in new hampshire because there's no state tax so all like the socialists love living in new hampshire and not paying state tax it's kind of hilarious and like i've talked

to quite a few of them who like they say it oh you know i live in new hampshire because there's no state tax but you're a socialist yeah well you know it's uh yeah it's like right there how how the fuck can you reconcile that you see the same with mass with massachusetts people i have a bunch of friends that live like right over the border uh and then they work in boston that's right uh and and but on the other side it's kind of interesting because like you know pretty much everybody in new hampshire uses boston hospitals every single one of them because like you know state of hospitals in new hampshire is not exactly ideal um i guess in a lower density too it doesn't help there's there's it's not a lot of people in

new hampshire bruce is there bruce phantom he's he's yeah and there's a lot of bcash there's like a big bcash community is there oh yeah the yeah well it's because uh it's like the it's not the bruce crowd is the like the the what's the name mandrick would be able to tell you more about that it's like the pork fest crowd the with yeah i mean isn't that where new liberty radio started i think isn't that new hampshire yeah it's uh it's the bow tie jeffrey tucker i'm pretty sure he's up there yeah well it's it's yeah i think you're right it's the it's the it's debating the debating libertarians right like the the crowd is oh if only we had a way of removing the power of the state have you heard of bitcoin yeah they're the uh heart of bitcoin it's the uh

it's the it's the kato institute versus nakamoto institute yeah it totally is right i mean it's uh it's fascinating how those guys just can't they don't i think they don't want things to change right it's more fun to complain and debate about it yeah well like again going back to the cato institute they got they got a smell a sniff of dc and what it's like to be a part of that crowd like they're just like the intellectual debates they don't care about changing shit or policy yeah it's uh i i thought like i mean i i remember like years years ago like i like i remember seeing those guys you know like yeah leaving it these guys are gonna love bitcoin once they understand it oh man it's like it's like i can't see new hampshire like being completely

like turning to like a bitcoin state in like like in like a month once these guys get it and then it's like time passes and it's like you know i bet like a lot of these guys don't even bother gold no i mean i earlier this year or shit last year at this point um george selgin and safe debated at the soho forum in new york and jeffrey jeffrey tucker was there and it was like hilarious seeing selgin like fight for a free bank a new free banking system and a reversion to like a sound money it's like it's here you can start doing that right now it's just you have this mental blocker in bitcoin yeah it's it's interesting right how like the progression of american sort of money went like you know it was all private banks like for the

longest time you just had a bunch of different private monies and and that's it it was pretty interesting um you know due to physical logistics of the time centralizing this stuff made sense right like i mean it's very hard to do decentralized databases on uh on the carriage and shotguns days, right? It's like, wait, I have to hold a different hardware here for this conversation. There we go. That's the correct hardware for the time.

Wholesome, some wholesome hardware. No, this is a 45-70. You know, it's like the second assault weapon ever made. The first one was the 30-30, the Klondike 1885.

Yeah. so um so you know centralization made it much more efficient but you know um it's fascinating how americans like sort of lost interest in the whole uh in the whole private money thing um yeah we in canada we always had weird things right because the british have a lot of uh what they call crown corporations so we have like all these entities that are essentially like companies that are controlled by the government but they're kind of independent in a way so it makes it very murky right so we we don't get to rebel against them too well because it's just so tricky uh so so we have this this weird stuff but i don't think it's actually i don't think

it's illegal here to for example have like private monies and complete private exchanges if i remember right it's like we never had the acts against private monies here you can do all that stuff as long as you pay your taxes in canadian dollars and you know and they don't really care because they'll calculate how many chicken worth like you canadian dollar you owe and that you pay your taxes no matter what canada had a pretty vibrant free banking system in like the late 1800s yeah yeah well i mean that's where the the classy brits came to right the the religious nuts went to your place and the classy aristocracy came here after they killed all the the the native people that were around the the

nice shores um and the classic french too there were a bunch of uh interesting french people that went to uh to quebec then i think they laughed and all the people that were left was prostitutes and soldiers um they called the ladies of quebec uh the the friends friends sent them uh boats and boats of uh of professional ladies uh yeah everybody i think it's like everybody's descendant uh of a professional lady in quebec essentially um some strong bloodlines there scrappy um but yeah i know the the the the stuff here was uh was pretty interesting it's just you know as usual with everything people just the numbness of not having problems just creates a very complacent society you know we it's like north

from area the whole west really right it's like we have um things are just mediocre enough that like nobody wants change right and nobody wants to to to mess with it because it's like it's just it's just fine i mean you know like you can't compare life now to what life was when the gold standard was around for all the arguments you could make the argument for some places in europe right there was maybe better but like reality is like life here was awful it was just mosquitoes and pelts and you know like no air conditioning and you know like some centralized money and more efficient credit lombard street credit really sort of uh made the monetary allocation much much more efficient

um credit is good banks are good we just don't want central banks yeah well you have to be able to verify that the base money exists is real and can be claimed and is somewhat scarce there is bitcoiners opening banks in switzerland and you eliminate yeah well that's how you eliminate risk is just lose complete control of the monetary base and the base money if the base money doesn't have any any semblance of scarcity or control like nothing like we've said earlier nothing fucking matters well it doesn't right when like money is solely based on on belief all money even bitcoin is based on belief right but at least we have

proof of scarcity so so at least you you have a solid unit of account you really do right you can count the beans you can't count the beans with state money so it's like it's belief on on belief right and remember you never want to do averages on averages bad math right well that goes back to like our paper claims discussion matt like maybe if proof of reserves ever does get adopted it would sort of contain any uh any insanity that could happen in a paper claims market well i mean i think even more important than proof uh proof of reserves is just the fact that as long as people can easily self-custody and we know it's a very scarce asset

you know you can drive the price up and just expose anyone who's fractional anyone who's lying about how much you know their paper bitcoin is backed uh will just get screwed and you know the next bull run it's like i think proof of reserves is pretty awesome uh it's a problem right because like you know exchanges don't want to to reveal their their depth depending on the on the market right like there's just amount of deposits on the start the books are public right like, I mean, what's being traded. But what's not on the exchange book, like what's just in deposit, they don't want to reveal that, right? Because it's like competitive advantage. So that BIP that does some proof of reserves, at least for the user of their deposits, it's

a huge gain that way. But you know what? Like, I don't have a problem with people getting racked uh in terms of like depositors on exchanges and like it's essentially like you're running trust systems anyways right so what's the point of proof of reserves if they can still go away with the money it's like i don't care uh right i i think i think just creating this is one of the reasons why i like liquid uh so much liquid network so much is because if we create extremely efficient uh liquidity between the exchanges right you de-risk it um because you're going to be able to one move the money very fast and two the exchanges are going to keep each other a little bit more honest because they don't want to be partners if with exchanges they're going to like

burn the whole network that they have between them right so federations work that way you know if uh there is a reason why so many countries have the city state and and federal system right most Most countries are like that because federations keep each other honest to a certain extent, even if they're not fully decentralized. So what we need is better efficiency between exchanges. That's why Tether, even though it's on shit Ethereum, the majority of it's still, or has it already moved? No.

A majority of it is still in Ethereum, but they're moving slowly to Liquid. Tether is great. I mean, of course there's room for them to do shenanigans. Of course there's all this stuff. There's counterparty risk. That's how you find the stability of that coin. But it's more efficiency in the market, right? It's like you can buy Tether in a place you're not allowed to buy Bitcoin, then you can transfer to an exchange in a jurisdiction that it can and then you can buy bitcoin so it's like all the shit coins really help bitcoin um you know that most of them are criminal uh and then from the very few that are laughed like many of them are completely negligent and then you know and then there is a few that are

like huge risk uh either counterparty or centralization uh and shit technology uh but That doesn't mean that they don't aggregate more value to Bitcoin, right? They're just like shit floating on the sea of Bitcoin. You know, Bitcoin goes up, they float with Bitcoin. The shitcoin analogy really works there well. But the stablecoin markets, like an all-time high right now, is like $9 billion worth of stablecoins out there or something like that. um i tether is making up a vast majority of it if you ever have a chance get phil

on the podcast to talk about tether uh yeah phil if you're listening i'll i'll ask him i think he's out of his nda soon uh very very smart interesting guy if you ever want to talk on a download too like he he will explain a lot of the stuff like from from the inside uh and uh it's it's uh it's interesting uh this this things you know it's just as long as they're clear about the risk to the customers right like it it's it's your it's your freedom to to gamble your money away on whatever you want right it triggers so many people though it does it really does uh i don't like purity tests that's like the i you know i don't think i have to explain how much i'm a bitcoin only person on this podcast but uh i also don't like the purity tests i find that's very anti

freedom it's like we should definitely shame shit for shit bitcoin like you know shit coins are garbage ethereum is disgusting but but you know like tron is the future true tron is the one true coin fuck that shit by the way uh justin is actually quarantining with me here protecting him that's right uh he's uh you trick you triggered a lot of pictures you triggered a lot of people with one picture yeah i i did not have all took was a picture The idea that it was going to be like that. It was a very strong meme. It really pulls back the curve on Ethereum

and I'm very self-conscious about it. I love how much they were triggered, man. It was beautiful. I just want to say that I 100% agree. I think alts are a net. I've always said that alts are a net benefit for Bitcoin. I think the altcoin casino is a major value prop of Bitcoin that people love just gambling on it.

But it is a negative for individuals who get wrecked trading it and buying it. Oh, I agree. But for Bitcoin, you know, it's not better. Well, it goes to that personal responsibility thing, right? Like, I mean, if you want to gamble, understand you're gambling. It really is that simple.

Gambling is gambling, right? I mean, and I'd rather people gamble on alts and then clear on Bitcoin than gamble on poker and clear on USD. Right. Same for Libra. i really like bitcoins i really like bitcoin sign guys uh explanation of alts or defensive alts it's like they just provide cover for bitcoin via confusion they just confuse the

fuck out of regulators i mean look at libera right i mean dude like it's amazing like they suck all government resources to deal with them right like it's like like it's like let them be the the punch bag right for regulators and and also they introduced this idea that like people can have money on the computer to like what is it now facebook has like two billion users or whatever it's like tomorrow they press the button i think like half yeah no and and it doesn't really compete with bitcoin at all so there's like nothing to be i mean they're not they're not the same type of asset i would argue so um and then like imagine this right so you have libra going on right and of course facebook is not going to allow you

probably due to regulation for you to convert between bitcoin and libra right but there's going to be like a hundred different companies doing great conversion between libra and bitcoin right on the market without a doubt right and it's like it's like boom now you just got you another 10x of Bitcoin users, right? We should cherish anything that brings more Bitcoiners in and just make sure people understand their risks. Yeah, and people inevitably touch the stove

and learn about the risks themselves. I mean, I did. And then when they're ready, they can use a Bitcoin-only hardware wallet. The only Bitcoin-only hardware wallet. how are how's the uh hardware well while development coming you got any new ones in the in the docket we are working on the on the next version uh just no details yet um once we have it economically viable right like we have like the parts chosen and stuff

uh but the thing is the very cool thing is uh mark three still un unpound so uh you know there is labs out there with millions of dollars worth of gadgets and things and time with a device for over months nobody has been able to demonstrate to us a key extraction so uh and we sent putin devices to people we write putin on the screen and uh and uh and uh nobody has been able to show to us that they have the seed um you know people have shown interesting attacks and bugs and things and we fix them or whatever but like but actual key extraction have not happened um and uh so my my uh so my uh my original um stance still remains that it still costs a few hundred thousand dollars

to break into parts of it but the seed's still unextracted because it's encrypted so nobody has yet shown that was possible even if like legit resources

which is pretty interesting so we plan on keeping selling Mark 3 for a very very very long time even maybe alongside the secondary device that we were working on you were saying on twitter that last week was your best sales ever for cold card it was uh i think it was two weeks ago yeah so is it two weeks something like that yeah no it was uh it's it's very interesting because um i guess two things is uh one more people are buying more hodlers are are getting their

shit together so they're buying to actually hold right and that's true you can see that because uh you know people like francis have been saying the same thing for the same time period right so it's like same similar data uh in terms of uh of trend um so these these are not your traders these are hodlers so people are looking for a place to store their value uh as we see economical collapse uh being imminent um two i think people are quarantined so they have all the time in the world to review their backups uh and make sure they have extra devices to to for backup as well right like you keep an extra cold card pre-set up with your seed so in case your primary one gets lost or stolen or broken you don't have to reset up your seed you don't have to unseal it

or whatever um i i talk about some of that stuff on the the last like last time i was in livera on like how to make your uh your backup threes and go through and see like points of failure and everything and i think people just have time right now to go through it um i think a lot of people are also have the time now to see how much the competition sucks i mean you know it's uh it is what it is right um and uh confidence yeah you know it's uh it's like i used to to try to be more coy about it but you know it's uh they're not gonna get their shit together so i'm not gonna be coy anymore um and uh yeah so people are learning right uh and uh they'll get more and If they get more, we'll make more.

I picked some up actually two weeks ago, so I contributed to that. So you know, right? You can't put your Ethereum in it. Sorry. Oh, God. If I had any, I'd probably be pissed. I actually think it's a fairly good strategy here. So you have a cold card for your real money, right?

And then you have a ledger. for all your shitcoins. Because, like, the reality is that most people that shitcoin, they're not going to keep much on the devices, right? They're not huddling. They're keeping them on an exchange anyways. But sometimes you need to move between exchanges or you need a place to go in between.

So, you know, you use a ledger for that. It's good support. And, yeah. And I think those guys are actually moving into having a full node on their desktop wallet as well, which is interesting. It's interesting. Listen, BTC Chip is a legit dude. He's the original CTO.

He's the guy who created BTC Chip. Way, way, way back in the day it was like a little smart card you break into a USB stick and you make into a hardware wallet. That was before even Trezor. I think. It was just a chip?

Yeah, it was. Oh, wait. I have one here. It looked like one of those Yubico's. Artifacts. Check this out. I love Bitcoin artifacts. So you break it.

So you would break that? And then you fold this little clip and it goes in the USB. That's pretty ingenious. That's pretty cool. This was existent in this smart card industry. He made it for Bitcoin. And this is actually how Ledger was born. Yeah, way back then, CoinKite.com used to support Ledger and Trezor. We're, I think, the first web wallet to support them all.

Those guys are pros. They're just corporate closed source and all the stuff that doesn't work for me but they're professionals yeah we met um his name's slipping my mind's head right now matt pasquale big show yeah i have never met him uh he uh he he was i think the first investor of ledger it was uh what's his name uh eric was eric was the first ceo he's the guy who partner up with uh with btc chip to uh to create that company um yeah no pascal's great i really liked him those those guys know marketing man pascal made like i don't know if it's billions but definitely like many many millions of dollars uh with marketing businesses i think that's how he made his fortune uh they they have pretty marketing yeah yeah we had a we had a good time

with him when he was in new york in the uh in the fall is there an interview with him for a little event no we haven't um i haven't done that yet he said we have to come to paris if we want him the pod oh good don't do it it's it's like less marketing restaurants hey hey we are we are an impartial media outlet here right we're just reporting it's not true i paid them both statements we paid them both like it's like seriously marty and matt like they they literally get checks from block stream and coin kite like on a daily joke about this rodolfo you can't joke about this it's kind of it's pay to play hey right pay to play it's kind of hilarious right because i think we're like the only bitcoin company that doesn't advertise or

pay anybody for this stuff it's like it's the most yeah you should pay us right now you guys make enough money people you're right from vc backed companies we just invest the money more hardware for the plebs out there that think there's a conspiracy um these guys are so legit that like even from the promo code i don't think they even like spend the credits that they have with us like it's like they actually buy the hardware and like they actually never contacted me asking for discount not even discount even though anybody in the industry knows that like Like, you know, CodeCard was born out of an essentially not-for-profit project. We just went into the hardware wallet that became for-profit, of course.

But, like, anybody who actually works on Bitcoin and works on integration, secure, whatever it is, like, everybody gets, like, free hardware. And these two, like, patsos here don't actually ever ask for free hardware or for, like, discounts or, like, nothing. so uh it's actually like pretty funny that like people would believe in the in the conspiracy because you know a hundred dollar device is really gonna buy people off right it's fucking ridiculous and also for the longest time or until like a week ago when marty said it on the pod we had never mentioned that we had a promo code with cold card people were just going to the site and just putting it in without us telling yeah it's amazing because promo codes leak right it's kind of annoying uh and and weird uh by the way um all the other bitcoin companies are tracking the

fuck out of you uh listeners uh all those uh all those uh uh referral codes and all those man go look on the browser and see what's happening oh man it's like it's like all like third-party companies that do stuff for like walmart or whatever like it's just awful privacy awful privacy and it's one of the reasons why we get screwed with promo codes is that we don't track anything like anything i think we'd still have google analytics on their website but i think that's like the only thing that loads uh so since we don't have any any any tracking uh you know people put promo codes that come from like different

places and stuff and we have like no clue we don't have like sales funnels or sales anything really we have like a command line system on the back end of the store and like some UI for the warehouse and that's it like it's like there's nothing behind

the scenes it's just you know people pay to get the device yeah I have no idea with ours with our merch store whatever shop comes with shopify that's what we have i never check it we have google analytics too that's about it i i was uh because i wanted to find a referral system right uh for our store and so i wanted to check the competition right i'm like oh boy there's a lot of tracking going on here uh and then you know we sort of like gave up doing the tracking just fuck it it's promo code yeah final final message has absolutely nothing i have people

ask me how many hits we get and stuff i was like i have no fucking idea yep literally nothing yeah no it's really is like the the more like the the the other consumer stuff right like coinbase trezor ledger all that stuff like those guys use like professional like referral systems right and those track and then you're trusting that data on the third party even if like not insinuating any of these companies are doing any fair stuff right it's just that the data is there the data there somebody could take it and you know the first rule of bitcoin is you don't talk about yeah that was actually a great way to stack stats back in the day it was queen base coinbase's referral program they were doing like a hundred dollars at one point

if i remember correctly i think when i signed up for coinbase i got point point one bitcoin we made some money on back coin kite days of sending people to ledger We don't anymore. Really? Yeah, because we had links for people to buy ledgers and thrashers from CoinKite. We supported multisig. Affiliate links. Affiliate links, yeah. But that was a problem too with the privacy stuff. It's never like that. Yeah, that's one thing we've never gotten into is affiliate links.

You never get your privacy back. Once it's gone, it's gone. yeah and i have people who always dm me with like educational sites that's good content but it turns out just to be like a huge affiliate link so i'm like i can't share this that's why affiliate links rep links they just rub me the wrong way that's why i like the the promo code thing you know it's it's like a dumb system right it really is a dumb system like there is nothing there you put the promo code and you get the discount and then we just track how many of those we sold um but uh what's nice is uh like there really is no it's nothing it's just it's a dumb promo code it just sucks that like you can't create any sort of like fancy funnel thing for marketing people

or whatever like it's like a marketing nightmare um but uh you know that's the space we're in we're selling privacy devices be private that's uh it's important i mean and that's a heuristic you freak should use right like if people are selling privacy and protection how are they actually tracking you on the internet where you're buying their products yeah no i'm still like it still amazes me that you know there harder wallets having sending your utx souls to their servers it's like jesus christ it's like well for the coin stuff like yeah there's no other way like i i actually i talked to pascal about this i was like i don't give you like i i want full node support and ledger live for bitcoin

but like let's be honest here like no one's going to be running like 10 different coin nodes oh you can't you know but you literally like some of the coins including ethereum you just can't can't run your own node, period. But what's interesting, though, is one thing I don't get about the Bitcoin stuff is that they could have made it a little bit more private. But they could have made it so that it's like, I don't know, like an Electrum server base. So you put your own or it's randomly select servers. That's probably better. Like a bacon tour. bacon tour um i don't think people appreciate like this is not fun it's like you have a hardware

device connect the fucking usb right and and it's talking to the software of the company that made it that has your sales information so like they have your name they have your device id and they have your txos it's all there i mean i'm not saying that they use it but like and they have a shipping address. It's all there for them to do or to lose. They could lose that data, right? People get hacked all the time. It happens. So,

yeah, man. It's like if you already went through the hump of getting a harder wallet, like, you know, do it on your own node. It's not that hard. You can run it against core now. I guess it is still pretty hard. Use an Electrum, you know, like at least Electrum

over Tor, even if you're using random servers electrum over tor i don't know i'd much prefer that than uh than centralized than sending my data to the people that have my address well i mean with i mean you could use their server with tor as well right yeah but they have your they they have your device id like we don't know if there's a bug in there like it's just you know it's like don't where you eat yeah i mean i don't think people should be using electrum without their own node I'm okay with that as long as they use it over Tor only. It's just very hard for somebody to create the link, right?

It's not ideal at all. The majority of Electrum servers are being run by chain analysis companies. I don't think it's the majority, no. There's a lot of old servers. Who's running public Electrum servers? There's a lot of people who run Electrum servers. Public ones? Yeah.

yeah there is a lot of onion servers too that he could just pick you guys should see the smile on rodolfo's face as he says this there's a lot as he as he strokes his shot don't appreciate how old the electrum is how many interesting people is in there how many law enforcement is in there but also how many like dark market stuff there's it's like it's old there is a lot of oldies in that system in the network so it's the first wallet I used when I got into this space

it's an interesting project the macaroni code is interesting hopefully one day they will merge like actually sorry it is merged one day they will launch v4 v4

has all the latest for cold card multi-sig and it has proper PSPT support better than the current although come on learn how to build from source code it's ridiculously easy you don't even have to think you just

you just copy and paste each sort of like instruction and then you do it it's important to build things from source code is there lightning implementation holding up v4

unfortunately Unfortunately, the lightning crap was merged into master before it was ready. And I don't think that's going to be reversed. So in software, when you have too many open questions, like in a current sort of version of it, it takes exponentially longer for you to sort everything out and get it out. Well, good thing is like core is slowly getting there. There's going to be UI for PSPT and other things very soon.

It's already, I think, on branch. Justin is working on better multi-sig UI support. Didn't he get a stipend from some company? I don't know if it's public, so I won't mention the company. So, there is that. I think HoldaWave, he's a cold card contributor. He is also working on some stuff. That Spectre project looks cool, too. It's a neat project. The problem is parts cost makes it impossible to make it into

a product, right? But there's a software element to it, too. Yes, the software is neat. That interfaces with Core. and it's it's smart people too behind it right stefan and uh what's his name yeah forget that i'm the other guy um all this stuff is going to be worked out it was so much worse a few years ago it's just slowly get there you never be easy but but you'll be much easier it's undoubtedly been trending in the in the better direction yeah i mean listen

if we grow another order of magnitude or two probably like either fork electrum and make it like more reasonable or or uh or create your own sort of wallet i promise myself we'll never have a wallet again never maintain a wallet again on the software side the software side uh it's kind of weird right hardware wallets should never have been called hardware wallets it should have been called keychains key signers calculators whatever you want to call but not in wallet be the change you want to see in the world right cold card keychain yeah well i would never sell any if i change that keyword i like signing i like signing device signing device is sort of intuitive just a calculator you guys have you guys gotten the new sticker yet do i have one

here did it come in the mark 3 that i have downstairs i haven't opened it yet the new sticker is so cool it says uh it says just a calculator on the screen there is no cold card branding on the sticker anymore so you can put on your laptop oh oh i got that i got that yeah um are you guys ordering groceries online or what's the joke yeah i got a fat stack of omaha steaks delivered yesterday i'm pretty good for for a few weeks yeah i'm fucking stopped i haven't had to order shit that's awesome so much meat i have a whole freezer full of meat downstairs yeah that's what i did i got my my butcher to uh vacuum pack the individual portions and uh man just like the whole freezer is like

beautiful scene seeing the baby running around screaming meat meat meat meat and data loading freezer with more meat meat meat meat i almost shed a tear people eating ramen every day you're having ramen every day matt i said people eating ramen and i'm having a steak every day yeah man priorities it's surprising right like how how like price i mean it's not cheap but how price effective it can be with meat if you just sort of like buy in bulk and you buy from the right sources and you know you deal with it like in a more conscious way like you know buying meat in the supermarket is like awful um and expensive bulk meat is cheap as fuck i know right it's completely underrated yeah and it's like quality meat too right it's not like it's

it's better and and most and most of the time it's better yeah you call your local butcher right now if you still haven't got your meat your meat together call your local butcher okay place a massive order and uh and just freeze it all uh air in your in your freezer is your enemy air gapping is your enemy in the freezer so uh you want to you want to fill up every freaking little like crevice with stuff in the freezer uh so if you have a power outage you last much longer and things would just last much better there they lit up that's good advice fill it up fill it tight um gentlemen we've been here for almost two hours 15 minutes i got a crying baby downstairs and a bent that needs to be written um this has always been this is always fun we

should do this more often that's right we are yes we have too many social uh social uh responsibilities and uh things to do right now right can we uh can we do this after 5 p.m one time and drink some whiskey yeah instead of drinking coffee being hungover yeah we need to do one that we're not hangover so it's no morning episodes we need to do an afternoon or evening one i think my only hungover episodes have been with rodolfo i don't think i've done any with anyone else i'm actually hungover right now i was up late my brother zooming zoom messaging my cousin and then i had to feed the baby it was brutal like we were in like pieces in the lobby yeah yeah um hey listen any day after 6 30 babies babies out of sight

it's like it's always pure freedom after 6 30 awesome yeah let's plan on like two weeks or something i can't i can't wait to get to that point rodolfo hey dude four months you sleep train it just takes two nights that's it you put them in the crib they're gonna cry for half a night and then they're gonna pass out and they're gonna have quality of life for both you and the kid that's like that's it four months that's when it's like safe i'm sure there's many other sort of like ways of looking at this stuff but like for us our research it's like four months we did it took just two nights and then it's like it's been like six to six essentially like every freaking night for the last like i don't know the kid is what like 1.5 years old so it's

like it's been like uh 12 14 months of of like just like six to six yeah no we're reading a book right now like 12 hours of sleep in 12 weeks so we're hoping that that comes to fruition do it it's totally worth it yeah so wish me luck on that journey yeah man don't worry you'll survive i already forgot what was you're like reminding me and i'm not looking forward to october again but i'm going to be at the same boat hey i think you're going to be okay you've done it before you can do it again let's just hope you get as many hardware get as many hardware products out as possible before then amen and then matt remember it's not that hard honestly bitcoiners are pushing me to have

a kid more than my grandmother does now it's like every time i talk to a bitcoin you know uh you need a t-shirt bitcoiners reproduce you're the merchant king make it happen the coiners right all right we'll make a reproduce uh a uh a equal plus plus hat uh all right go forth and try to reproduce we'll uh we'll congregate here in a couple weeks with some whiskey cheers guys um i'm gonna go i'm gonna go take care of my my crying baby all right take care peace love freaks bye bye love you guys