TFTC: A Bitcoin Podcast - Rabbit Hole Cap: Week of 2019.06.17

Episode Date: June 19, 2019

This week Marty & Matt discuss: - Libra https://libra.org/en-US/ - Cash App deposits go live, fund cash card with bitcoin https://tftc.io/martys-bent/issue-507/ - Whirlpool public beta release https://github.com/Samourai-Wallet/Whirlpool -Binance to block US citizens -Lightning labs mobile app release https://blog.lightning.engineering/announcement/2019/06/19/mobile-app.html - Firefox vulnerability update to 67.0.3 ASAP https://www.theverge.com/2019/6/18/18684272/firefox-zero-day-flaw-browser-attacks-crypto-patch - Cellebrite states they can crack current all popular phones with physical access https://t.co/WHsaDxzoXz?amp=1 - Hashrate ATH - dcabtc.com tool by @JohnCantrell97 - US vs Russia cyber cold war escalates https://www.nytimes.com/2019/06/15/us/politics/trump-cyber-russia-grid.html Shoutout to this week's sponsors: Cash App. Head over to the App Store or Google Play Store, download cash.app and start #stackingsats today. Unchained Capital. Head over to www.unchained-capital.com/vaults and checkout their 2-of-3 multisig vaults. You get 3-months free of Saifedean Ammous' The Bitcoin Standard Research Bulletin when you sign up.

we're sort of making uh fucking up a habit on this podcast matt we fucked up again yes we did we did we did we realized right afterwards yeah we got so passionate towards the end of the episode this is a good episode freaks we we high-fived after we hit uh and record after this episode but we forgot to mention that we're recording a live episode of rabbit hole recap next week at the bitcoin 2019 on the rooftop on the roof to end it out It's a beer garden on the rooftop. So if you freaks have been on the fence of whether or not you're going to be go, maybe this is a little bit of an incentive to push you towards the conference.

If you use the code TFTC25, you're going to get 25% off your tickets. And, hey, we're going to be doing it live. We have no idea what's going to happen. We had one live show before in early January for the 10-year anniversary. It was a fuck ton of fun. The price is up 3x since. The price is up 3x since. Five-drink Mac came out.

He might come out next week. We don't know. Yeah, maybe four drink, Matt. Okay, we'll find out. I'm pumped for the conference, are you? Oh, yeah, it's going to be great. It's going to be a great time. I hope to see plenty of you there.

Yeah. So, again, Bitcoin 2019 conference, TFTC25, if you guys want 25% off that. Cheers. Cheers. What is up, freaks? It's your boy, Marty Bent, here on a Wednesday night, off night for a rabbit hole recap,

sitting down with Matt on a gloomy, rainy Wednesday night. What's going on, dude? Excited to be here, as usual. A lot to talk about. Before we jump in to what we have to talk about, we are at block 581,487, according to my node, which was launched via Pierre Rochard's node launcher. Shout out, Pierre. And according to the TradeBlock XPX index, the price of Bitcoin is $9,168.52.

cents. In this episode, a rabbit hole recap is brought to you by Unchained Capital. You freaks know all about them. They have the two of three multi-sig vault program, excuse me, product that allows you to store your Bitcoin and Unchained will be one key in that two of three multi-sig. And if you ever need their help to sign, you can tap them on the shoulder and say, hey, will you sign this for me? I'm trying to move some coin. They're there for you via the vault service. They also have their lending service on the other side. And eventually you'll be able to use your Bitcoin in your vault to take out US dollar denominated loans. So you don't have to sell your Bitcoin and avoid those tax events. And then on top of this, if you freaks are going to sign

up now, you're going to get three free months of safety data mousses, the Bitcoin standard research bulletin, go to unchained-capital.com slash vaults, unchained-capital.com slash vaults. Also brought to you by the Cash App. Cash App hot in the news this week. It's been hot for the last two years. Number one app in the finance store, as you freaks know for the last two years. First p2p payments app to let you buy and sell bitcoin and sent to a personal wallet and now they're rolling it out you can send it from your own personal wallet back to the app if you ever need to to sell bitcoin or fund your cash card uh with some with some digital cash so that's uh that's rolling out i have it we'll talk about this in a little bit further in the episode uh so go

download the cash app take advantage of their boost program uh the like i said last week they They rolled out DoorDash and Popeyes, their new boost. So you can go save money there. Yeah, it's a cool card. Personalize it. Put your signature. Go to your local app store. Download the cash app.

Matt. Howdy. Howdy. Hot week. Are you feeling tired of the Libra talk already? Yeah, that burnt out like within a couple hours. That was pretty crazy. Yeah, we're about to bring it back up.

We'll probably talk about it for a good bit here. So for you freaks that probably already know, Facebook has come out and launched their, what do they want? They launched a blog and a GitHub page about, and a test net for their. You know, like a splash website. Yes, for Libra. They announced it. They formally announced. Formally announced it.

So it looks like it's a quasi-SDR they're looking to create. Well, the first thing that's really important is they went with Libra, right? Yes. Not GlobalCoin. They went with Libra. Smart move. Smart move. What's their name?

Really coming at the Winklevii there. Bold move, I think. Gemini versus Libra. Gemini versus Libra, yes. So let's talk about it a little bit. They came out with basically the plans for it. It's funny. They mark it as a blockchain, but if you go read the white paper,

they very clearly say it's not a blockchain. They're using Byzantine fault tolerance consensus mechanism created by VMware or something like that. It's called Hot Stuff. Yeah. um so it's not a blockchain in any way it's not a chain of blocks it's not using proof of work or anything like that it's like an account model right where it shows yes it's more it's more similar to ethereum in that in that regards where it's an account model but ethereum actually has

blocks yes this doesn't actually have blocks no and then on top of that it's something uh another thing that ethereum did that libra is also doing they create their own scripting language um what they call it move what libras yeah i have no idea yeah i think it's called move or something like that similar to go um but yeah so they create their own scripting language and the plan is uh the the libra will be a stable coin uh that is backed by a basket of other currencies and financial assets um so they're creating like a quasi sdr which is a basket of currencies that the imf uh uses sometimes they could even potentially hold bitcoin at some point at some point it is digital cash and so it's not really a stable coin it's like it'll fluctuate in

value apparently no i think the way i understand it will be something where the the value stays stable and they're basically working with the assets in in the underlying basket to make sure and stay stable like buying and selling those assets to keep the peg to keep the peg at one dollar to peg it to one dollar that's what i would imagine they can't they don't have a free float right i am pretty sure they do it seems it seems like that's how people are interpreting it i think i've seen people interpret as a trojan horse to eventually get to a free float um where they'll they'll just posture that they're trying to keep the peg via the basket um but eventually just let the coin float on its own we shall see we shall see if it ever ever even comes to fruition so

It might not even launch. It might not even launch. So it just came out right before we hit record that the House Finance Committee is calling Facebook into their, or they're having a hearing about Facebook coin July 17th. So it's drawn the ire of Congress. It's funny that Bitcoin for the last decade has sort of been ignored by everyone except for Brad Sherman at the Congress level, congressional level. But as soon as Facebook Libra comes out, their alarms are going off.

And that's brought up a lot of discussion. is this similar to something like liberty reserve is that what facebook's trying to do and is is it like a huge dick flex by facebook like are they very confident in themselves and making a very bold move on the geopolitical um stage like what what is this is this something like is it similar to liberty reserve should it be shut down is it like a very much like a cryptocurrency still still very vague what's interesting here is well first of all what facebook announced they're like 25 partners or something already yes visa mastercard uber tons of heavy hitters paypal i think ebay is there yes um you i think usv yeah a bunch of vcs anderson

art anderson horowitz is there yeah um yeah so what is it going to be like is it it sort of reminds me of r3 and those consortiums yeah i mean and those never launched but they they never got to that fully fleshed out of a plan like r3 and stuff was supposed to be a private blockchain right like this is supposed to be publicly accessible to some degree it seems um and people keep we don't really know exactly what they're looking for here because people keep going back and forth um about whether or not you're going to need to pay that 10 million up to to run the note and then there's this other thing which we had talked about in the discussion earlier in previous episodes um about just because they're giving 10 million doesn't mean

that's that'll be the total market cap of the basket well no no they're giving 10 million but they're getting tokens in return for the 10 million and those tokens are security tokens that are for peace i think it's for voting power and a piece of the revenues of the network um so i'm not sure how that's going to work out but but yeah this is why like decentralization is important right like i the government can easily stop this they can just tell facebook they can't do it well it seems like they're posturing like they may do that um but this is a bold move by facebook a lot of people on the interweb have been uh i've been saying that this is this is sort of the death knell of the mindset that government

and central bank run currencies are the end all be all like facebook coming out and saying hey we're going to create a currency even though bitcoin has been doing that for the last decade maybe it's the the catalyst for which uh the the masses uh awaken to the fact that there is a free market for currencies at the moment the difference here with like uh liberty reserve or any of the stable coins like gemini or tether we're not those are all just we keep a dollar in the bank and we give you a dollar digital um this is i'm pretty sure this is a free floating basket and i'm not sure how that will work out and i i do at least applaud them for keeping it interesting um so we can like watch it all unfold uh they also i mean i i think

if this if the u.s government does let them go through they're obviously going to make them do like full kyc full aml regulations whatnot so you have like this a similar situation as all the other issues we have with these centralized platforms where people get deplatformed they get blocked they get censored they get tracked yeah so it clearly doesn't compete with bitcoin yeah that's yeah that's what i was gonna say let's make that clear it doesn't compete with bitcoin and that's what's like you said you're you're happy they made it interesting and it is very interesting because they're really competing with the the mainstream currencies the you're yeah they're actually trying to make like a quasi corporate central bank is what they're doing

that's a pretty bold fucking move right you know and so like as much as like i hate zuckerberg like that's you know that takes balls and especially going like this whole consortium approach like he's playing for keeps he's not yeah he's not dicking around with just you know because he could easily have just launched a fiat usd stablecoin just you know put 100 million dollars in a bank account print 100 million tokens issue them on stellar that would have been super easy for him to do it was it's funny that you're not funny but i love that you mentioned like the consortium like all the partners like is this a corporate coup on on like government money like having mastercard visa paypal uber some of the biggest vc funds when they get pulled in front

of the house service or house financial committee eventually are they going to be able to be like look we've got all these incredible american corporations that are in on this are you really going to deny uh sort of the bread and butter of what makes american america run which is a lot of these companies i think what they really fucked up with is facebook rightfully so has a really bad image right now in america so they should have just been a minor consortium member you know like they should have had visa propose it or something like that they should have started with just oh we'll do a fiat backed and then once once they have that u.s dollar one out then you know start messing around with free floating ones when you already have the whole infrastructure in

place like they were a little bit too uh it looks like they they were a little bit too bold with it um which also kind of reminds me of the whole kin ordeal where they just they thought they're like above the law and um you know if you if you take steps too far like the government will you know eventually step in all right let's put some odds on this what uh what are your odds of it actually launching within the next year well they so they they said they're going to launch in 2020 is their initial right january 2020 or something all right let's change the uh they probably won't by the end of 2020 what are the odds these are like 20 yeah i would put even lower i'd say like 10 i don't know just because

it's like a pretty fleshed out plan to begin with um yeah i the only way they they don't is if if if the u.s gov blocks it and you know i think there's you know a bunch of people posted i know ty posted that uh ecorp uh mr robot clip let's shout out mr robot for providing us with ammo years ago for this situation it's it's perfect and that's the argument they'll make right so this is going to be fully regulated you'll know everyone who's transacting you'll be able to try like we'll bend over backwards for you it'll be you know your your currency as well and i i think like that's like a decent argument especially as like a way to potentially try and defang bitcoin do you think it could defang bitcoin though no i don't think so but i i don't i don't think they

realize yet like the implications of bitcoin no certainly not um which segues us segues us into our next topic which is cash app uh opening up deposits which we talked about the ad disclaimer cash app sponsor this podcast uh uh which we talked about in the ad yeah um they uh but they opened up deposits and it's funny to see the dichotomy of the the uh the approach facebook has taken this to to square and cash uh you have two tech titans and zuckerberg and jack dorsey who started two the two biggest social networks in the world and they're going completely different routes and it seems that cash app is uh is sort of getting that bitcoin has has uh bigger implications than some might realize at this point yeah i mean cash app's clearly going you

know square seems to be going heavy in the bitcoin direction they're very focused um i think the big thing about this deposits uh that you you always could withdraw bitcoin from square but now from cash app but now you can also deposit bitcoin to cash app and then once you're in there you can sell it for us dollars and you can use that in the cash app ecosystem so you can either send that to a person or you can use that for your cash card right and that's a visa debit you can use it anywhere visa is accepted you could even send bitcoin straight to cash appers now if they had their deposits open they could just send you their address all right you can just withdraw to their address right um so the the big thing here i think is is that for the longest time we've had alt

corner's main arguments against bitcoin are um they want lower fees they want the transactions to be faster and they want there to be less volatility um and you get all three three of those things through cash app with this feature now the issue is there's a trade-off there that all those things trade off with censorship resistance they they trade off with you know distribution and decentralization censorship resistance so all those altcoins that have gone that route the low fee route the fast transactions have made that trade-off and they still and they can't compete with cash app so they're already they're becoming centralized they're inevitably going to be even more centralized and cash app is just like we're

just fully centralized and you get you know low no fee transactions no volatility instant basically yeah and it's important to talk about these trade-offs and we this is a heavy topic of this podcast throughout the years is the trade-offs with the services they use and yes know that there are trade-offs when you use cash app they kyc amlu in fact when you initially enable your deposits you have to answer some questions about where your income's coming from and who you work for and stuff like that so just be aware of that it's like four questions yeah four questions pretty straightforward um pretty benign in my in my opinion but it's like normal kyc yeah um but yeah it comes with trade-offs they're gonna know you they're gonna know

where your utxos are coming from when you're sending them to uh the cash app so make sure you have your your uh your on-chain use of bitcoin locked down make sure you're using wasabi sending it to a personal wallet and then cash app or straight from wasabi to cash app um so use coin join yeah use coin join we'll talk about coin joins later in the episode as well uh some new developments there but yeah just realize what what you're engaging with when you're using these different services and the trade-offs are there to provide optionality and that's like obviously there's hardcore bitcoiners out there it's like if you're not using this way you're not doing it right but what people have to realize and there's good argument and there's strong arguments to be

made in that direction but optionality exists for a reason people like options and this is just another option that exists and helps bitcoin in the long run yeah as holders of the the hardest money available the best money available bitcoiners are going to have many different options with many different trade-offs um i i think this is a feature that i will never use at least not in the near term um if i was going to spend bitcoin it would be like a small business that accepts bitcoin directly doesn't convert it and gives me a discount um the the key here though is a lot of people do want this feature a lot of people use this as ammunition against bitcoin i mean look at just like bitpay's whole business model over the years which was to like encourage businesses

to accept bitcoin only to automatically convert it to fiat on their end so now you don't need a merchant to enable that kind of system you can just use cash app you convert it to fiat for the you know for the for the merchant before they they they receive it and basically it just it it takes that whole argument of oh well can you spend it anywhere can you do this like yes now you could spend it wherever visa is accepted you know that that's you know that point is moot and and any alt coins that make the same same trade-off you know coins like ripple like they're gonna have like full kyc it's just a matter of time they just need the government to finally get aware you know like look how they're reacting to facebook it's just because they read it in

wall street journal like they they don't really know what ripple's up to um when they start to figure it out they're going to make sure that it's just full kyc everything yes um yes be aware that's a shout out to cash app for they don't even make a big announcement about that's the other thing i like again disclaimer sponsor the pod we're pumping them pretty hard here but they just get shit done and roll it out like i didn't even they didn't make a big announcement about deposits being rolled out like it was just i think a couple i got tweets from people being like yo did you get your deposits enabled as well and they just started slowly rolling it out yeah and then also uh for future rollouts i a little birdie told me that beck 32 will be enabled soon

on the cash app um very relatively soon they just keep notching off checks off the checklist so So that'll allow you to send directly to Wasabi now, which is nice. Yes. So keep on trucking, Cash App team. And it'll be better on fees, even though they pay the fees. It'll be better on fees and for the network and whatnot. Yeah. So beware that.

That was a big announcement. So the rollout started over the weekend, it looks like. And they started batching transactions, too. Boss. Looks like they're going to their Bitcoin Optech meetings. There you go. What was I going to say? i forget what i was gonna say there um on to the next one whirlpool talking about coin joins

whirlpool uh beta has been released correct yeah they had the where's alpha a bunch of i they i think they're calling it alpha i don't know but uh either way it's their it's their public testing round they were doing private testing round uh that i was participating in now they're doing the public testing round uh so anyone can download the whirlpool client you download it on your computer um you pair it with your samurai wallet on your phone uh and then yeah so it it does the coin joins on on the computer and then you can you can send them within the app on the in the samurai app on your phone which is pretty cool and these have smaller smaller minimums than than wasabi has at the moment right so the first of all from the get-go they're supporting multiple pool sizes

which in samurai they're not samurai is just there's one pool size it's 0.1 uh bitcoin minimum you know 10 million sats yeah that's wasabi that's wasabi and then samurai um you have there's two pools available to you there's one that's 5 million sats so 0.05 bitcoin and then And there's one that's 1 million sats, 0.01 Bitcoin minimums. And they default to smaller round sizes. So Samurai round, the Samurai Whirlpool rounds are at five people, five participants. And then Wasabi rounds are either every two hours or when 100 participants are hit. So it's two different approaches.

The idea with Samurai is that you'll have a little bit of privacy quickly, and you can just keep remixing to get to your desired anonymity set. From your experience, what's better from a fee perspective? Well, I mean, I imagine Wasabi will be better from a fee perspective because you have less rounds with more participants per round. But I've just started getting Test Samurai. They're still building up their liquidity and whatnot. um so there really hasn't been enough time or to make any kind of real conclusions yeah so we're

going to drop that github page in the show notes make sure you guys go check that out if you're running samurai wallets um start experimenting start coin joining the spend from samurai wallet i've been told is just uh they have a tighter integration uh coming but like just as it is right now is super slick you just you just press the menu button you press spend from uh whirlpool and you can just spend from your whirlpool balance and they have good uh coin selections going on too like they'll let you know like what it's connected to before you send it stuff like that well it's the same it's the same way they did it previously which is you can freeze unspent outputs yeah and they uh the samurai team they've been putting cool charts from oxt.me

about their whirlpools uh visualizations of it it's just like nothing important but really cool to look at see it looks cool yeah see how everything becomes entangled iota was working on tangle but i think samurai figured it out better with their whirlpool um again we'll put that in the show notes uh i'm testing it out with i'm i'm testing it out with wasabi outputs as well just to be you know so you're sending from wasabi too yeah i'm already wasabing before i you're compounding your send it there compounding your

your coin joining yeah on to the next topic we talked about Binance last week shout out to your your Binance call

we talked about BNB it was fucking perfect man I mean we had been calling him forever but yeah yeah no perfect honestly could not have been timed perfectly last week's

RHR we talked we shit on BNB and Leo that was a rant that was one of my biggest rants that was a good rant and it was a very timely rant because less than 12 hours later Binance came out and said they're blocking US

users and opening up another exchange for US users specifically but that'll be completely KYC'd and they've already started geofencing off the US and blocking US citizens. And it'll be like three coins or something. Yeah. It'll be like an on-ramp. Yeah, and like we said last week

it's the inevitable trajectory of these shitcoin casinos. They get too big for their own good and have to comply with the government or they get in trouble. So first of all, they all end up having to do this. They get too big.

We've talked about this forever. They get too big, then they get a target on their back, and then they have to start tightening up ship. The issue that I will personally point out is BitMEX has been in a similar issue. They have never tried to connect to fiat in any way, so they're more insulated. but they banned us users as well and they said no us users can go but people you can like if you just you can use a vpn around it and it's like see no evil uh speak no evil right like they're not going to say anything if you use a vpn around it i i've never you know i've i if they if you end

up connecting through usip they like automatically block you but they let you withdraw your coins so not so not only will they turn the blind eye on the vpn but if you slip up i'm pretty sure they just let you take all your coins back um they just close your account with binance binance is flagging vpns like shared vpns if a shared vpn if a user of a shared vpn gets um flagged for something binance will then lock every account that uses that shared vpn so like the way like vpn services work like movat and stuff is like a bunch of users are all connecting through the same ip and usually that gives you more privacy because there's so many different people surfing under that ip but with binance's case if they flag one account they block down every single

account with that ip and then force kyc on you to get your coins you can't get your coins without kyc so um i i think that to me implies that they are feeling extra vulnerable like they have to go above and beyond um to make like that's so that's super risky for a u.s user to use in that situation so they're going above and beyond to be regulatory compliant and that's because they're a huge target and i think that users will gravitate towards um new options that that that respect privacy and and don't require KYC information for altcoin trading, which, you know, never connects to fiat in the first place. Yes.

So good call, good rant, good timely rant last week. Binance geofencing off U.S. users, and they plan to open it. CZ came out and said this is like a short-term hit for like a long-term gain, basically saying they're going to roll out like a U.S. exchange and it's going to be okay when that happens. When I called him out on the random KYC, he gave, like, a complete PR bullshit response admitting to doing it, right?

Like, he's a really good salesman. I mean, look, he's got his hand over the fire. Like, everyone's going after him right now. So it's hard to give him too much shit. But, of course, what else is he going to say? Of course he's going to say that. But all of his plays, all of his other Binance subsidiary plays have basically the idea has been a fiat on-ramp, right? And then I guess like his long term play is is this pseudo DEX they have. Right.

Which I think might be blocking U.S. users, too. I'm not even sure. But eventually could but could block U.S. users because it's not really decentralized at all. They have full control over that DEX. So that's just like a regulatory arbitrage play. So I'm assuming like his idea is that he wants to have all these different regulated fiat on ramps into Bitcoin and probably Ethereum. um and and so you you give them the fiat on ramps and then they can come into his decks his pseudo decks it's not a really a decks but it's non-custodial i guess even though it's all in the bnb chain which is completely owned by him so yeah it's all it's all a facade to to keep the show going and make it seem like binance is still what it once was when it was a pure shitcoin

casino but it's not that uh again the honeymoon phase is over they got too big for their own good and this is this is what happens is inevitable we've said this many times we don't have to repeat ourselves uh it's just it feels good to be right though doesn't it i mean to be fair leo pumped in the meantime so on the on the binance news i mean i just in general it just keeps pumping so i that rant that part of the rant has not been proven correct yet not yet uh but markets can remain uh irrational far longer than you can remain solvent not that you're trading that and And then also we have Binance added the they created like Bitcoin tether wrapped Bitcoin or whatever. Yeah, I don't understand.

It's a Bitcoin stable coin. I mean, it's it's on BNB. It's a token on BNB chain that represents like a certain number of Bitcoin they hold. Right. So each token is it's like tether. But instead of U.S. dollars in an account, it's Bitcoin in an address. Obviously, it's not trustless at all. You have to completely trust them.

it's not really bitcoin it's an iou it's just like if you were holding bitcoin on binance basically but it connects that dex ecosystem with the largest trading pair in altcoin land which is which is bitcoin so it goes in hand in hand with that play but the question comes down to do do regulators let him just say it's a decentralized exchange when it's not fucking decentralized and i i think inevitably they won't but until then it's just kind of like cover yeah um so We'll be following that shit show as it unravels. It's been unraveling pretty quickly. So we'll see if Binance US ever comes to fruition,

how popular it will be if it does. The real question, which I'm asking myself, is what will be the next altcoin casino? What will be, you know, we had Bittrex, we had Poloniex. Poloniex is trying to claw its way back. They re-added the troll box. But they have KYC now. And I think once you start going the full regulated, you're no longer the altcoin casino.

Well, this is an interesting question to ask because do you think a phoenix arises from the ashes? Because how did Binance get to where it was? How did it become the most profitable beginning? It was asking for listing fees for shitcoins. And that was like a lot of their profit in the beginning. That's how a lot of these shitcoin casinos start out. they pay they get coins to pay them to get listed and i don't know if i see like the proliferation of of projects like we've seen in the past to provide that that sort of profit that that

existed in the past um so i don't know if i could i see like another i don't know i could be wrong there's always a new altcoin casino marty but this time the altcoin casino is the exchange itself where it's like ieo so it's the exchanges running them um like that's the next iteration of the ico is exchange runs this is we find ourselves in this weird area where uh like the next hot thing isn't making an all coin forking a code base and creating a coin and buying your way on an exchange i don't know if that's going to be the case anymore could be i don't know i think i think listing fees will still be there it just you know they will go to astronomical prices during bull runs and during accumulation cycles like that doesn't happen we'll see i'm

skeptical i'm skeptical that that business model is uh is repeatable in the future but i think regardless of that business model you're still going to see like a new altcoin casino whether that's like a pseudo dex uh whether that's just a bucket shop that operates in a different jurisdiction if we have any dj and all coin traders that listen to this podcast let us know let's know if you're seeing any uh future binances pop up out there because we brought beaksie exchange last week but it's definitely not gonna be beaksie it's full kyc yeah so it's not them that's like the one exchange i've seen pop up that people have been talking about but nothing you wanted to do like full kyc you just use like poloniex or bid tracks is cryptopia still

look at coinbase coinbase is basically token based now right yeah is cryptopia still around i don't fucking know didn't they they were the ones who got hacked they're the new zealand one this guy they got hacked and they're in bankruptcy or something yeah didn't they like they brought the police involved the police was like i don't even know how to send an email what the hell is this internet money you're talking about you got internet money stolen i thought it was digital tulips man exactly how do you get these flowers stolen then they just had to go into bankruptcy that was completely fucked r.i.p cryptopia um yeah so again if any of you freaks are are aware of a shitcoin casino popping up let us know we want to follow it i think like

will go i think that like shitcoin traders got a little bit spoiled with binance it was like a more of a rarity well because not only that but like binance was like the best ux the easiest onboarding it worked it had liquidity like right away exactly i think we're about to go into like another cripsy era you know like so there's going to be like they're going to flock to an exchange big vern coming back that's like really shitty but everyone just copes you know they just they they just deal with it because it's like the only place they can trade uh like that that's that's what i think's about to happen where in the world is big bird what the hell is he up to these days right didn't he did he go to jail i'm not sure if he got arrested he was like florida-based he

showed up yeah um okay enough of that enough of that next topic uh lightning labs they released their their lightning wallet today uh we both downloaded it immediately like good bitcoiners both downloaded i'm still syncing he's on iphone i'm an android i synced within 40 minutes i'm on hour two right now okay so you see look unlock with pin i know matt's pin yeah my super secure pin look so mine synced and it was working and now it's you know they say this one's definitely alpha they say yeah this is definitely alpha and and now it won't open um so i have i have 50 50 dollars on there i think it's 600,000 sats yeah i've recovered from a seed freeze and um have a good we'll have a good chunk on the

lightning network there when it finally sinks um it seems to be a little buggy right now but it's out there nonetheless so i use this on computer so on computer it's synced within in like 10 minutes um so the idea is is that there's no it doesn't use a bitcoin full node it uses neutrino so it downloads block filters which is like a little bit more private um way of doing spv um so so so you have you have no node you have no bitcoin node but you run a full lightning node uh and then they they enable autopilot to begin with so it's supposed to just it takes your money that you deposit and just immediately puts it into what it thinks is a well-connected node so then you can immediately send out um and then the idea is that once they

add loop and stuff uh you'll be able to you do that and then you just balance out your channel so you can receive instantly as well um it's a very seamless process on computer it just works super seamlessly it's a beautiful uh ui too um but you and i have a little beef with the name of the app yeah it's like this coinbase blockchain shit all over again like i i don't we can't call the app lightning right and uh yeah could be cause for confusion it's gonna be so confusing there's gonna be the lightning app yeah i don't know we officially changed the name of tales from the crypt to tales from the crypt a bitcoin podcast there you go could they change it to something like lightning wallet app yeah i mean i i i the lightning labs already is like you know

kind of questionable name right so it's just like what are you gonna do and this is not to say that we don't like the project we love it they're pushing us forward as the creator of the lightning network paper is working on this stuff so um they could just call it something completely different you know like oreo yeah yeah let's put it out there hey let's just think about the mistakes that we made in the past bitcoin.com blockchain.info coinbase uh confusing people of of the actual assets or technologies that that represent um not that lightning's doing that but people will i think it will i think people will see like the lightning app and like i think they know that because like that it'll be more likely that that app will get downloaded um so it's it's

like kind of whatever yeah but uh yeah it's just a little bit frustrating that's all in effort to uh to hash out every argument or that's why we brought that up we uh i mean it should be it should be hashed out on the table it should be laid out on the table and and discussed but whatever it is what it is it exists lnd is dope and they do lnd too so yes um so anyway this app is like i think is this is like the future vision of mainstream lightning um that can compete with like custodial wallets in terms of ease of use right like when this thing works um you're gonna have super easy access to a non-custodial lightning uh lightning solution in like what like an hour yeah a few more hours for me at the moment but the vision's there it's

so weird that yours is still saying it's my internet it's my internet it's uh my internet sucks here and i already have three nodes running in this apartment so that's probably why it's straining yeah um i have two nodes i have two nodes running this will be my third uh not a real node but the lightning node um the problem i have with the computer one is i don't think you can do incoming i don't think it publicly broadcasts so you can't do incoming channels um i don't know if that's going to be a feature coming up or not and it's interesting that it defaults to usd showing but if you tap the balance it switches switches the sets no the other thing we're being critical right now but these patients these things are getting rolled out they happen this stuff

happens in over time in increments and this is a huge step for them to release the app get it out there if you freaks uh download the app get it up and running make sure you go to tftc.io dash excuse me slash dime dash bag and test it out by thought by slash dime dash bag yeah slash yeah yeah it's a mouthful right there i'm not going to try to repeat it uh so go check that out and then i don't know if we talked about this last week did we what watchtowers watchtowers are officially a thing now yeah i think that's one of the reasons why they released this yeah i don't think we talked about last week did we i'm not sure but anyway watchtowers is like is the idea that right now if you you have the issue that if you're if your lightning node goes offline you

turn off your computer you lose internet your power goes out the the other party in in your channel could publish an old state that they have more money and close out the channel and basically take your money now the way that's prevented in lightning is that if the other party realizes while this is going on they can issue a punishment transaction where they get all the money and a watchtower basically allows a third party to watch your channels for you and issue that punishment transaction if the other party maliciously closes on you and even if you don't have a watchtower watching your channel just the fact there are watchtowers out there should prevent it's like a herd immunity it should prevent it's like having a i have a gun sign on

your house or something like yeah i mean it's you're on camera no one's gonna go for your channel because they're afraid they're gonna lose everything if they do it watch out punish watch towers they are the bodega smile you're on camera signs of the lightning network exactly um no it was cool last week at bit devs here in new york willow burn gave a demonstration of a watch tower that was so dope yeah watch tower working in real time and yeah he he he attacked himself and then protected himself with his watch tower two lightning nodes set up uh with channels open with each other he tried to maliciously close one in the watchtower stopped it from happening and he got all of that channel liquidity back to the one one lightning node that he had running um so those

are a thing now again these things happen in increments steady progress same team that was lightning labs as well yes like and that was i think bitcoin connor has been leading the watchtower charge so shout out shout out the lightning labs for dropping this app and watchtowers within one week uh badass yeah on to vulnerabilities a lot of vulnerabilities this week i saw i woke up early this morning and saw uh vladimir uh is one of the lead maintainers of bitcoin core tweeting about a firefox vulnerability um and it's a zero-day flaw that uh attacks is it a crap we don't really i don't think we know what the attack is right it uses javascript right yeah it uses javascript but we don't know what they get out of it it's probably they break

the sandbox is the guess it's a type confusion vulnerability uh can occur when manipulating javascript objects due to issues in array.pop this can allow for an exploitable crash we are aware of targeted attacks and this will uh in the wild abusing the this flaw but it so it tries to crash your browser and take the data that they didn't give they didn't give a full release because it's such a critical vulnerability and they sent out the patch yeah zero day doesn't sound good but it seems that then they can they can execute code on your computer which if you have cryptocurrency in a in a browser on your computer in a jewel extension something like that or any other kind of sensitive information yeah so update your firefox um it doesn't look like i don't think the

updates out on linux yet so you know don't use firefox until it's out i think maybe you have to push it manually um but you know just be aware yeah i put the version number that you need it's uh version 67.0.3 right you probably currently have 0.2 so make sure you get that 0.3 yes um yeah so be aware firefox users out there make sure you update and if you have especially if you have any cryptocurrency on online wallets or extensions you shouldn't have much on there but yeah yeah um and then so another one not on the list but we remembered right before hitting record is ubkey um this is coming from the top of my head so the the exact details might be wrong but i'm pretty sure if somebody gets access to at least three public signatures they can sort of

reverse engineer the private key yeah they got completely owned yeah so that's not great that's not great at all it's yeah so that's ub keys that for you freaks that don't know is a 2fa solution a hardware um solution to 2fa you plug in the little usb drive yes bluetooth it and that acts as your your two-factor token do you think they need physical access to get those signatures or those public those public signatures are public in some places correct i'm not sure i didn't really you know i i don't use ub i use i like the i use google 2fa yeah like the software based i use an open source one on my on my phone and i you know i think that that is i mean except for like the u.s government you know that's like pretty strong threat model doubt uh compromise trade-off yeah

like well who wants to carry around the usb drive and as you can see like in this case so i imagine they're going to come out with new ones i would too it seems like a pretty pretty bad vulnerability and then another bad vulnerability an unpatchable vulnerability in the bitcoin world is trezor uh we forgot to talk about this last week but at breaking bitcoin in amsterdam two weekends ago uh was it the ledger team again yep ledger team again um attacked a bunch of hardware wallets they found a bunch of vulnerabilities but they won't they found one unpatchable they won't exactly say exactly what it is but they said anybody with a hundred dollars worth of hardware in three to five minutes what your device can get your seed phrase.

Physical access. Physical access, yes. They could pull your seed. Yes. But they can't pull a passphrase if you use a passphrase. Then they would have to brute force the passphrase. Yes. So Trezor allows you to add a passphrase.

Everyone should add a passphrase to their Trezor. It's basically an additional last word added to your seed that you pick and isn't stored on device. You type it directly on the Trezor. yes and the model t trezor lets you do that on the device that's what you just said oh yeah how does the trezor run work with the passphrase does it pop up like you have to do it in the browser with your keyboard you have to type it in i would imagine your computer but it's still better than nothing it's still better to use a passphrase and not to use a passphrase because even if they have

your passphrase they still need to get your seat see it just goes both ways no this is something again this is another topic that we've talked about a bunch on this podcast you should assume that if anybody has physical access to your hardware devices that that you're fucked um and the passphrase buys you time because they can brute force it still i mean if it's a really long passphrase then they might not be able to brute force it but um it buys you time the other thing is if you keep money on just the seed without the passphrase um then they might not even know to brute force a passphrase so like let's say they pull the seed from your treasure it's got you know four million sats on it or whatever then they're like okay we got everything they're not

even going to go look for a passphrase yeah so always use a passphrase nice additional protection multi-sig helps here too if you use a multiple hardware uh so so so the reason ledger is able to pull up these attacks is because trezor uses completely open hardware and open uh software ledger uses a secure chip that's a proprietary secure chip so it's closed source we don't know what's going on in in in that ledger chip so those are two major trade-offs on one side the ledger seems better but it could easily be backdoored by uh like a a major government right so so if if a major government's in your threat model ledger might be less secure than a than a treasure with a pass race um while the treasure if you have physical access it's much easier to pull

the seed from the device yeah and i don't want to jinx them but it seems like cold card may be the safest bet in the hardware game these days so cold card also uses a secure element but they use an open source secure element that they're running i'm pretty sure their own open source firmware on it uh so it seems to accomplish the best of both worlds now i would i am definitely not capable of hacking any of this shit um but i would caution i would say that you know cold card is a newer entrant um they have less of a target on their back uh ledger is clearly going after competitors so we'll see you know what happens here i think this is all good that everyone's everyone should be attacking each other this is like the most constructive marketing ever uh makes a more

secure environment uh but like best case scenario would be i i think would be to use like a multi sig where you have all three devices involved in the multi-sig yes ideally um and no again be aware it's uh it's funny because you have these and it's obviously for us we're here making this podcast giving out advice and it's like when you see these things getting pwned it's like oh damn man like i told somebody buy a treasure last week but you just have the treasure we you should already up so so the way i viewed this release is i already operate under the assumption that If someone gets my hardware wallet in their hands, then they can pull the seed from it.

This is why pass raises are so important. On all three of those, the ledger, trezor, and the cold card, you can use a pass raise. You should use a pass raise. You should just assume that with physical access they can get it. So, like, the first line of defense is to, like, properly secure the device, you know, hide it appropriately, you know, store it in different, you know, use different threat modeling.

and that's even easier if you use a multi-sig um because then you could balance those different trade-offs yeah um again be aware be aware just be aware that this stuff exists because like if you're keeping like your seat on a piece of paper it's just as vulnerable yeah it's more vulnerable right at least with the trezor they need to have like specialized you know specialized know-how to get into it yeah no and i think it's actually that's a good point to be i like that you said it's good it's overall constructive it is overall constructive and it's probably good that this stuff's being found out now and bitcoin price point is not as high as it could potentially be in the future so figuring out all these vulnerabilities and patching them before

they become real threats and the incentive to actually go get physical access to people's treasures is increased and ledger was good about this too because it is unpatchable so they spoke to trezor they decided not to release how they did it so that it'd be a little bit more difficult for other people to replicate it and treasure basically usually like the way you prove that you've broken something is by showing how you did it so instead treasure was just like yeah they did it like that that happened so like treasure admitted to it happening ledger explained that it happened but no one said how it how it actually is done yes no it does require physical access ledger has a whole team dedicated to just brute forcing and breaking the stuff yeah i mean once

you get down to physical access like the person can just you know like they could put a gun to your head yeah what was the other one they had a keep key vulnerability to where they uh they found like a glitch in the in the uh ui that that helped them find seed phrases as well or pins i believe i don't know i don't like the keep key because it's just it's a treasure fork and it just seems like kind of like a scammy no not scammy because uh yeah i i they're they're reputable i i just i don't i think it's like almost like a side business it seems like a side hustle and it doesn't because it's shapeshift shapeshift owns keep key and i just it's they're just forking trezor and just continuing continuing that so i don't love that in that regard

um staying on vulnerabilities i have not seen this one you put this in the in the show nights show notes celebrate states they can crack current all popular phones with physical access it's another physical access attack what is this yeah i mean even the most recent iphones which is that's the big revelation i think for people like it can do all the major android phones actually if you have like some like run-of-the-mill uh mid-range chinese android phone or something they might not be able to get in because they don't just they don't support them all out of the box they're like marketing this a comprehensive solution to access ios and high-end android devices bypass or determine locks and perform a full file system extraction on any ios device

or a physical extraction uh or file system file based encryption extraction on many high-end android devices to get much more data than what is possible through logical extractions and other conventional means scroll down they have like a really good chart um oh there it is that was it up one more but uh yeah so they can basically they can basically just completely own they're saying at least i mean i imagine they're puffing their chest a little bit but they're saying they can completely own the iphones the newest iphones the newest samsung devices as long as they have physical access yeah so we'll put this uh you got a utm link to this somebody was tracking you on this one uh we uh we'll put this in the show notes i it was there it was from

their twitter account okay but um yeah i mean so they're puffing themselves like i imagine if you use a obnoxiously long passphrase on your iphone you might be better off uh you know so like you can i imagine i think on the iphone you can set like pin you can set like you can go to 16 but if you go with actual passphrase and type in your actual passphrase like it'll be a lot harder for them to do it before it erases itself i mean that's all going with apple not providing back door to the government supposedly they don't but you're still trusting them because it's all closed source i don't think we talked about this yet but apple their latest announcement i like their anonymous email things that they're doing for people when they sign up for apps and the

credit card thing it was pretty cool yeah uh anonymous credit card no it's just burner numbers and burner emails yeah it's pretty cool you can never tell are these corporations evil are they trying to help us are there good corporations out there is the incentive always trend towards becoming a statist arm of the state i think apple is a very uh is great for privacy if the u.s government is in your threat model as long as as long as you're fine with the u.s government everything else like they're probably really private they're probably on and they're probably being honest about it in that regard because it makes them money that's their business incentives it's all about the incentives right that's their business model their business model is selling you

hardware uh selling you services attached to the hardware it's not ads it's not tracking so uh it tends it it tends to drive them in the right direction they kind of stumbled into this privacy thing and i think they're just embracing it yeah um yeah so there's a lot of vulnerabilities out there that came this week so we have firefox uh ubk trezor and now this uh cell phone uh brute force so beware these are the guys that broke the one remember the court case on the san bernardo shooter with with the iphone the fbi said we don't need your help anymore apple they use celebrate okay that's the same guys and then apple came out with their new security chip and their new encryption and the way they did it and did all this stuff and then celebrate broke

it and now it looks like apple's gonna come out you know it's like a whack-a-mole thing they go back and forth yeah um yeah so beware of that stuff it's out there and yeah just take check of your of your your uh your threat models and your your security and your opsec and uh react accordingly yeah i mean just assume that if someone has just like your hardware wallet just assume if someone has physical access to your phone they can do fucked up shit to it yeah um back to bitcoin back to some more cool news more positive news uh bitcoin hash rate hit an all-time high this week i'm checking bit info charts right now what about the death spiral marty it could still happen you never know you never know um it doesn't look like the death spiral

happened that's why the difficulty adjustment exists to make sure that doesn't happen freaks the difficulty adjustment i've been saying this for years now is the most beautiful part of bitcoin it's what makes it go i believe i just like the p i'm like a pow i love the pow in general yeah just distributed pow is pretty crazy oh and i haven't pumped this on the pod yet but uh inventing bitcoin a book by jan pritzker free ad um coming out soon i read it a couple weeks ago actually my wife and i read it together it was cool really cute really cute really cute afternoon we had there but we both learned a lot and it's less than 90 pages and you'll be for anybody who actually wants to know how bitcoin works and sort of the incentive system and how proof of work and

transaction ordering and all that stuff comes to play i think yon does an incredible job of laying it out in a very succinct format and it's it's a great resource so when that drops in the next couple weeks hopefully make sure you have if you have any bitcoin curious friends out there like how the hell does this work i would give them this book two hours and you sort of understand it a very it puts it in very good layman's terms that is but uh back to the stats hash rate hitting an all-time high this week i'm looking at bit info charts it's saying the highest point i can see right here is 61.76 exahash per second but i feel like it was higher doesn't trade block have it does trade block have it trade block or uh anyway it definitely hit the all-time high right

we're like hovering right next to the all-time high definitely hit all-time high um and that's that's just awesome it makes sense the price is going up um yeah trade block does blocks are get confirmed faster when the price goes up yeah so around uh around 62.2 exahash per second and it's probably a combination of two things is a combination of new chips and a combination of people bringing on old hardware that wasn't profitable until the combination of the this current difficulty adjustment and the rising price came together yes and uh word on the street is that what's minor is coming out with their next batch of miners and that's going to be the most efficient powerful miner and i feel like they're supposed to hit the market in late july early

september so look around that period for for an increase of hash rate as well interesting yeah um the march forward continues yeah austin uh austin storms has a good tweet on the on the new what's minor it's coming out it's like crazy more efficient than the s9 i tend to not believe this shit until it comes out that's a good that's a good uh that's a good framework to work from Yeah, there's a lot of history backing that one up in Bitcoin. Yeah. Hash rate all time high. Oh, yeah.

A shout out to John Cantrell97 at JohnCantrell97 on Twitter for putting together DCABTC.com. DCABTC.com. Dollar cost average. Cool site where you can basically go to. We talk about stacking sats here. You can create a stacking sat strategy or follow yourself stacking sats and sort of visualize this stuff yeah it's the ultimate stacking sats website it's got you you

put in how much how much you how much you put in whether that's per day per week per month per year um how long when you start when you end and you can see historical performance um it gives you two lines it gives you the line of how much money it's currently worth and how much money was invested and shows you both um and i actually i i redirected stacking sats.com to that so you just go to stacking sats.com without the www because yeah for some reason urls and like you can't get name cheap to do that so um yes that's cool it's badass it's super clean super nice it has some educational material on the bottom trail is the same guy who brute force the one of the first keys to satoshi's treasure he's on our team not team that like we have barely not contributed to

at all well i haven't even i saw i saw satoshi trezor tweet earlier that they put out a new clue new clue today yeah yeah our team is is hustling on it i gotta have it yeah hey we haven't done shit team keep keep trucking again we're here we're not hey we're just here to pump you guys we don't expect any uh yeah we're the marketing department marketing department we don't expect any uh any any of the the uh rewards from the hard work like a steak yeah steak a pat on the back all i need is a pat on the back dude that supposedly eric said he already bought the bitcoin for that that bitcoin must be worth two million dollars right now right yeah have we doubled it was started when it started starting like march or april sorry april i believe it was

200 bitcoin i'm pretty sure if i recall correctly we said it on the show it's at on the show at some point uh i know it couldn't be 200 bitcoin it was a million dollars what price like five yeah i forget i forget i don't know anyway the prize is worth a lot more now and if we keep pumping if that if this if it takes like another three months to get this prize out could be interesting yeah could also be worth less than it is today who knows that's true anything possible be putting all this effort in to to cash out bitcoin at a lower price there you go be aware um last topic we'll talk about geopolitics it seems as if the cold war is getting a little warmer uh the u.s is directly attacking russia's power grids now uh story was in

the new york times earlier this week uh and it's just another it seems like russia's doing it as well yeah everybody's doing this has been speculated in the past too speculated china's definitely doing it too yeah so everybody we've got to to grid power to or excuse me power grid attacks at the nation state level now which come on hey all you politicians out there it's a slippery slope if you start if you start attacking everybody's grids uh things are gonna get fucked you're gonna get a tap back people are gonna be uh in the dark literally uh so just think about what you're starting with these it's all dick flexing hey all you politicians are you grubby assholes out there the very few thousand people that decide on the laws and and and when and when

not we go to war just think about this these are big implications if you start attacking people's grids there are innocent people living in these cities let's take a chill pill so what love it what i think is interesting here is that um it's it's very cold war-esque in that they all seem to have feelers inside of each other's systems and it's not direct it's more indirect yeah they there it's basically flexing to say like if you do it to us we'll do it to you but the other thing that i i think that's interesting about this in particular is uh you know a lot of times when we're threat modeling things about bitcoin we talk about like emps and stuff um you could easily see unsecured uh power networks getting hit by by cyber attacks instead of of necessarily an emp

yeah or an EMP yeah this is this is like the last might not be the last Bruce Willis movie what am I thinking

I don't know what you're talking about so honestly it's oh god what's the movie I'm thinking of Bruce Willis where's the cop on Christmas oh fucking

I watched every single one of those movies me too i'm just like it's one of the last one was a cyber attack yeah yeah it was uh this is gonna piss me off you new freaks are definitely screaming the movie name it's gonna are you gonna look it up i'm looking it up gotta go to imb day this is ridiculous die hard die hard die hard four i think was the one god how did we not know die hard yeah came out like just it happens in the moment you can't remember whenever you try to think of it too hard it never comes to your mind they're that ridiculous scene with the jet and shit in that one yeah kevin smith was in that i like that die hard it was a good time people

have been talking about like crazy cyber attacks for like ever right yeah um but i i think this could get more real it's getting more real and especially when like bitcoin mining enters the picture and stuff like that if you just have a large amount of money uh stored in the system then there could be some interesting attack vectors that that use this kind of thing and i I mean, I also think this shows the benefit that some miners will have disconnected. On their personal grids, yeah. Yeah, we talk about stranded power, about how Bitcoin enables stranded power. Well, in this situation, stranded power actually gives them an additional benefit in that they wouldn't be affected by grid-level attacks.

Yeah, so we've talked a lot about vulnerabilities. There's a fire gang, Firefox, YubiKey, Trezor. are we born hard die hard energy grids like are we we're again we talk about being born in the inflection point like are we at this part where like we're figuring out all the vulnerabilities and they will be fortified throughout time or will this be like an ongoing battle where everything's just always susceptible um and we have to deal with it or are we finding out the the the pain points now and they will be uh cemented over in the future i think part of the reason that it's even um being being preceded with so heavily by by all these major countries is because russia

has already done it they did it in ukraine um before they i think they did it in georgia georgia yeah as well um and and so when this is how i think the natural world progresses right you had the attacks and then you had the solutions no one like ever thinks ahead they usually are just like patching shit as it goes um so it's better if everyone just like gets it over with uh this is like a little bit like you knock down a whole country's power grid like you could have or like they were talking about in this article i mean i don't know how much is fear-mongering or not uh so take it with a fucking grain of salt the new york times is a is a blog that tends to fear-monger a little bit but the u.s government is also super inept when it comes to securing

their systems so anyway this was saying how uh russia was able to probe into some of our our nuclear reactors um and so like you can imagine like you can do some crazy shit with that uh they weren't able to get into like the control systems they're like specifically isolated yada yada yada uh but but there there's different attack vectors you can do here uh once you're able to infect these systems another message to you grubby politicians out there can we uh figure out our nuclear security because i'm pretty sure like nuclear weapons are still run via like 15 inch floppy disk and stuff like that it's time to come into the 21st century especially when we have uh enough nuclear weapons on the planet to blow it up so let's figure that out please it's too

expensive i don't want to pay to upgrade at all what if we have to i don't know we'll just patch it and if there's a problem we'll patch it you grubby politicians went crazy in the mid-20th century building all these nukes just and that's like that's a problem we have to deal with in the future our kids will have to deal with too that's like potential that stuff could be potentially like degrading and stuff like that something to think about grubby politicians um yeah so that's all we have we went six minutes over what do you want to riff on did you watch the chernobyl hbo have not have been staying i thought that's why you went on the new grant no i've been staying away from it so i actually think it's very good though i think that um we'll get as yeah so i

watched the whole thing or whatever um and but that's besides the point i think i think nuclear power is going to be progressed forward oh i think it's the future but we have to take care of the like the nuclear shit that we have created like 60 50 years ago first right but i i think that specifically bitcoin mining will propel it forward like if you think about it there was never a financial incentive um to figure out fusion you know that's a figure out fusion before bitcoin existed right like because like who how do you profit from like endless free power you can't digital gold baby the incentive is there now mine bitcoin with it right i don't know like crazy shit like i think that i think that all these um i think power efficiencies will see at like a crazy

level and i think you'll obviously see that with nuclear as well so you have that incentive and then obviously the world's very hot about global warming right now and nuclear is arguably some of the cleanest energy in the world and that could be a driver as well except for storage yeah yeah storage is hard but um yeah or like if you have like an inept government do it build a chernobyl series no that's like yeah nuclear yeah you go back and forth like i have these moments we're like yeah it's the future then it's like you see like a fukushima or chernobyl joe rogan like used to talk about all the time on his podcast and it fucks over like all the neighboring countries it fucks over everyone yeah the ocean fish in the ocean we all yeah it's all it's all of our ocean

hey humans we're part of nature too even though we don't think even though we live in these concrete boxes made of metal as well uh we forget that we're connected with nature we're part of nature let's just remember that all right maybe facebook will create a world government to go along with their world currency it's going to be the libra currency in the libre world and like yeah master card and paypal can tell us like what we can pollute and what we can't yeah that'll be the best future it's the best future i can imagine idyllic yeah so we're gonna end it on that peace and love freaks we doubly fucked up on this episode bro we're adding one in the back now yeah we added one

in the front now we're hitting you with one on the back uh we forgot to pump our node we're we're very close to one percent of uh the lightning network liquidity right now yeah so our node is um you can look us up on on 1ml.com by just searching stacking sets i just hit refresh and we went up one in capacity we went from 45th to 44th in capacity but we're not at one percent we're at 0.99.0 we're 0.990 there you go the routing node for the people by the people it is being run by a fan of the pod somewhere at an undisclosed location yes so the thief is actually a friend of the pod who's uh who's helping us out there you go we're ready to fess up on that and channels are still being reciprocated if you send a channel that's

over 1 million sats since the price has gone up over 1 million sats it will be reciprocated the limit is no longer 2 million there you go it's been lowered it's been lowered we're we're getting close we're getting close oh you can open a channel with the lightning app if you download the lightning app on your phone um that's how you can open a channel easily now very easily there you go um i wonder if it doesn't bug out the next update i wonder if they have us on their autopilot list they should uh i i bet you we were in the beginning but now because it runs through tour it fucks up their availability metric which they're probably they're probably favoring clear net nodes but hopefully you know it should be we'll find out freaks we're one basis point away

0.01 away from one percent open your channels today with the with our friend love you guys