TFTC: A Bitcoin Podcast - Rabbit Hole Recap #183: Intel hopping in the Bitcoin mining game and Presidents meeting to talk Bitcoin

Episode Date: January 20, 2022

This week Marty and Matt discuss: - Intel to announce new bitcoin ASIC in feb - GRIID has signed a deal with Intel for their ASICs - BitMEX to acquire 268 year old German Bank - Taproot funds burned - mempool v2.3.0 - mercury wallet v0.5.9 - onionshare v2.5 - simple bitcoin wallet v2.4.27 - lightning pool v0.5.4-alpha - umbrel v0.4.11 - tdex v1.2.4 - El Salvador Gov is using pegasus spyware against journalists - Bukele meets withs Erdogan - UK Gov planning publicity campaign against encrypted communication - Ethiopia should turn to bitcoin - Congressional Hearing on Bitcoin - btcpolicy.org fact sheet focused on the hearing - Citadel Dispatch will no longer be on TFTC podcast feed going forward, search Citadel Dispatch in your favorite podcast app Shoutout to our sponsors: Cash App Unchained Capital Braiins HodlHodl Bitcoin 2022 - use the code TFTC for 10% off

what is up freaks it's your boy marty bent here to introduce this rip of rabbit hole recap our inaugural rip in the new bitcoin commons studio the tftc studio at the austin bitcoin commons vibes are high here i think they're only going to rise from here on out special guest in rhr today uh parker lewis um so enjoy this rip was brought to you by good friends at the motherfucking Cash App. Cash App so you stack sets and sets, receive sets and sell sets if you so please.

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is going to go to our good friends at Owls La Crosse. That's Owls La Crosse. owls the process was also brought to you our good friends at Unchained Capital who we now share office space with Unchained's down the hallway we're in the Bitcoin Commons the

Austin Bitcoin Commons this is TFTC's new studio in the Austin Bitcoin Commons and so I get to walk out of the Commons and the Unchained teams are going to say what's up guys keep working on your incredible product suite which includes a multi sig volt a two or three multi-sig quorum in which you hold two keys unchained holds one key

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bitcoin mining pool in the world they're also the team behind brains os plus firmware auto-tuning firmware which if you have an asic that's compatible with brains os plus you download the firmware onto that ASIC and then you run that ASIC, you're going to stack more sats because you're going to be producing more hash. It's a beautiful thing. If you have a miner that is compatible with the Brains OS Plus firmware and you're not using it, you are leaving sats on the table. It's as simple as that. Beyond the auto-tuning firmware and slush pool, if you use the auto-tuning firmware and you point it at slush pool, you don't have to, but if you do, you get 0% pool fees. Nice little VIG there. They have

insights.brains.com. I-N-S-I-G-H-T-S.brains.com. B-R-A-I-N-S. At insights.brains.com, you're going to get an incredible suite of data tools for the mining industry. If you're running a mining business, you're going to want to go check out insights.brains.com. This show is also brought to you by good friends at hodl hodl hodl hodl is also another company leveraging bitcoin's native multi-sig properties and what they're doing specifically is they're providing a lending product for you a two or three multi-sig escrow account in which you hold a key your counterparty in the loan holds a key and then hodl hodl holds the third key what you do is you put bitcoin in this two or three multi-sig quorum as collateral. You get stable coin liquidity in return. You go

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Lend.hodlhodl.com. This show was also brought to you by our good friends at btc media which is throwing bitcoin 2022 bitcoin 2022 is gonna be the biggest bitcoin event in the history of the world uh it is being held in south beach miami april 6th to the 9th 6th to the 9th south beach miami all four days will be jam-packed with exclusive content exciting announcements and an incredible lineup of bitcoin speakers artists and leaders day one is industry day for enterprising bitcoiners who are looking to build a business or career within the ecosystem day two and three are general conference days

featuring speakers like el salvador's president naib bukele apparently he's got a big surprise coming out uh ceo um ceos in space including michael saylor elizabeth stark jack mallers adam back, Marty Bent, and hundreds more. The conference caps off on the fourth day with the world's first and largest Bitcoin music festival, Sound Money Fest, which is headlined by rapper and fellow Bitcoiner Logic. Stevie Aoki got added to the list. CL, Run the Jewel, San Holo, San Holo, excuse me, Deadmau5, they're all going to be there. Last year's conference sold out, and this year's is on pace to be 3x larger, so make sure you grab your tickets before it's too late. Visit b.tc slash conference to learn more, pay in Bitcoin to save, and use the

promo code TFTC for 10% off. And I'll see you in Miami. Matt and I will be doing a live rabbit hole recap. Enjoy this, RIP freaks. 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 probably should be about your videos looking great is that a new camera is that new camera and mic new camera same mic new stand new computer let's fucking go 2022 2022 and i'm here in austin sixth in congress at the bitcoin commons in the new tftc studio very bare bones right now

as you can see we have some sound wall behind us we're gonna clean it up to get it all chopped up car is confirming matt that your your video looks good uh outside here um so we're live we're going 2022 we're stepping it up it's january let's say 19th yeah 20th 20th we're moved into the new studio it's happening quick we're gonna get i'm going i'm going to round top texas tomorrow to a big antique fair i have to drive like an hour and a half this big antique fair that we're gonna try and furnish this thing make it look good i'm excited i did like a christening rip with uh lisa nugget from blockstream this morning she is oh i love nifty she's fucking fantastic she really is fantastic she is one of the easiest conversations i've ever had on this podcast

she gave us she's very bubbly very smart incredibly good conversationalist um i think And we're lucky to have her working in the Bitcoin space. 100%. Yeah. Grateful for Nifty and the countless other open source contributors we have working to build out the Bitcoin protocol. Without them, and the full ecosystem in general, just like without them, we would literally have nothing. You'll be happy to know she got an OpenSats shill in, too. OpenSats got some tech.

I was about to put it in an OpenSats show, but yes, I'm very grateful that she's on the board of OpenSats with me. And hopefully we should be publicly launching very, very soon. We do have our 501c3 tax-deductible status already, which is quicker than I expected. I like the stickers. Yeah, stickers are important in the Bitcoin space. People like stickers.

They really are. But maybe it's a good first topic, not even on the list. Don't put them on your phones and your laptops, especially if you're traveling. did you see that yeah i mean definitely if it doesn't say definitely if it doesn't say if it says bitcoin on it that doesn't say bitcoin on it right it's just no just open sats yeah yeah i mean no one's gonna know what open sats means for like another five years until it's like just one of the biggest uh open source development funds in the world

exactly then don't put it on your laptop but that's like seriously don't put this bitcoin sticker stuff on your laptops and your phones there was a video of a woman who got stopped by customs in the u.s because they saw that she had a bitcoin.com sticker brutal for her in many regards are you sure they didn't do it because it was like a horrible website maybe maybe there was a maximalist at the uh at customs he's like i just need to give her a little hard time for for the big i think no i don't think that i don't think the guard at customs and knew that bitcoin.com is run by uh somebody who's not really pro-bitcoin anymore there's some argument to be made that a bitcoin.com sticker is not actually a bitcoin sticker but i'm assuming that our bitcoin

cash didn't fly with because it didn't fly with the customs people wait so what happened here i missed this i didn't see it she was flying she was not american coming into america she's no she's american coming back to america um going through customs they see the bitcoin.com sticker on her phone and they ask her like are you carrying bitcoin like we'd like to check your phone for that luckily for her she's a lawyer and she pulled out some lawyer speak was like no you can't do that but the civil asset forfeiture is a thing bitcoin is cash it's a weird thing too though is i mean yes you can have wallets that are signing devices on your phone you can have apps uh like blue wallet essentially a signing device but like the bitcoin technically

is it on the wallet it's on the ledger which you can't really care i know but this is where it's going to become a problem it's a problem that i've expected for a long time well first of all if you go through customs or tsa or whatever you have absolutely no rights i mean maybe you have have some rights. I'm not a lawyer, but you should operate under the assumption that you have absolutely no rights. And you should not be carrying anything that you don't want taken or searched. That should be your expectation. Obviously, we joke around, but you shouldn't have anything that's labeled Bitcoin or says anything Bitcoin related. As governments start to become more aware of Bitcoin, this is going to become a bigger issue because a lot of countries

have rules where you're not allowed to travel with more than $10,000. And that's in the quote unquote free world. Obviously, authoritarians have even stricter rules in terms of moving wealth around. So I expect Bitcoiners to be targeted. It's one of my biggest regrets about being a public facing Bitcoiner. It's something that I've expected going through security and customs for years now on myself. And it hasn't happened yet, fortunately, but I expect it to be inevitable and actually one of the things i do is um i have an old uh i have a treasure t the original treasure which is like a hardware wallet i don't think anyone should use um because it's outdated and insecure from physical tampering but casa sent me a free

one when i was testing their service so i still have it in the box and i just i keep it in my travel bag because i'm just curious i want to like know when when the security knows to look for it right and they no one's no one's ever called me out on it yet and i've been traveling a bunch so i had uh actually when i was coming back from nashville last month or december yeah last month after the uh what is it nash bit bit net nash bitcoiners net bit nash bitcoiners meet up and I had a four asking a good question during the meetup on one of the panels. I was gifted an open dime and I went through the airport. I forgot I had it in my pocket. I got in or wore the same pants two days in a row. And then I'm going through security and have to like hastily throw

this open dime that was funded. Cause you remember I funded it on the live RHR that we did. Right. And so I had that in customs and I go through customs or not custom TSA security. And I'm walking to my gate, and I notice, oh, shit, I forgot my open dime. So I had to run back to security. You left it in the tray? Yeah, it was in the tray. And then I was like, oh, I left something here. And the guy was like, what?

And he saw the open dime, and he handed it to me. He's like, what is this? I was like, a USB stick. Yeah, I mean, that's a nice thing about open dimes. They look like USB drives. Yeah. He had no idea. Yeah, but if I was a TSA, that's the perfect thing.

You see an untouched open dime, you just put that in your pocket. You're like, oh, I lost it. Yeah, except that they're, I mean, like we're surveilled a shit ton going through airports, but the TSA sheep are like, they're all on camera stuff as well. Like my lady left her laptop once and we went back like a half an hour later

and it was still there. And they're on like a million cameras. They don't want to lose their job over it. Yeah. Yeah, expect to get harassed at TSA checkpoints and customs checkpoints freaks i would that's like when we did have merch and we will bring merch back probably uh at some point in the future we try to make it so that it's not uh obvious that we're a bitcoin show or bitcoin associated company so that if you are wearing our merch you're not

you're not getting harassed in public that's going to become more of a thing it's a shame um but i would expect it moving forward this is just like an intermediary i mean eventually Everyone is going to be a Bitcoiner, right? So, yeah. Beware, freaks, be aware. Start off with that public service announcement. It just popped to my head. That wasn't on my radar at all, so thank you.

Yeah. Well, if somebody in the comments has seen the video and wants to post the link, maybe we can pull it up in a bit. Go into Clark's dashboard. The price of Bitcoin right now is $43,005. dollars one cuck buck's going to get you 2 325 sats current market cap of bitcoin it's 814.3 billion cuck bucks we are at block height 719 670 we're getting close to a difficulty adjustment

and 42 blocks there will be an upward adjustment it's uh right now estimated to be 9.9 percent so almost 10 blocks are coming in nine minutes and six seconds on average since the last adjustment. Again, the next one is in 42 blocks, so it should happen maybe even later tonight. No, that's middle of the night for anybody

East Coast, Central Time Zone, Pacific here in the U.S. There are 4,833 transactions in Clark's mempool. This new setup, it's hard to read the board.

One sat per byte. fees are going through i sent a couple this week so it's working uh if you want to send cheap transactions get them in you're about to hit the weekend too usually uh transaction volume goes down on the weekends unspent capacity in whirlpool is 4 418.53 btc 490.3 million cuck bucks um that's what we got on clark's dashboard today uh yeah this difficult fucking difficulty yeah let's talk about pretty massive and i tweeted out earlier yeah go ahead you go first i just want like it's been 20 days since we made our end of year predictions just like me and marty are taking back our under 250 we're gonna hit 300 we were completely wrong we've been humbled

don't let the point be known i don't want to hear any more about it for like the next 345 days of the year it's done yeah so hash rate is a it's it's i mean especially we're going to talk about the intel news obviously we were so wrong i mean not only the we'll talk about all the mining news but with this particular with this particular difficulty adjustment uh again even if it's i believe we need to get over 25 point something trillion um hashes for the difficulty to hit all-time highs and we're going to pass that with flying colors uh in 42 blocks so this difficulty adjustment that's going to happen at some point in the next 24 hours will take us to a new difficulty all-time high which is fascinating and considering the uh exodus of hash rate from

China last year, if or when we have this upward difficulty adjustment to new difficulty all-time highs, we would have an official hash rate recovery in less than 250 days from the first downward difficulty adjustment after the last all-time high difficulty. So I think that's pretty crazy. And it shows the dynamic nature of the Bitcoin network, particularly the mining industry is again we had one of the largest nations in the world kick out all the miners in their country where a lot of a significant amount of the hash rate in their country obviously there's some stragglers that are mining off-grid and under the radar there but you know one of the largest superpowers in the world i would consider it a light attack on the network and in less than

a year in less than 250 days they could have done worse the network completely fucked up yeah they fucked up bad the network's completely recovered it's pretty insane yeah new hash rate all-time high that's crazy yeah and i guess when we're speaking we mentioned it and we'll roll right into it um intel came out with some new well that's the funny thing intel didn't really come out with some news uh tom's hardware which is a new publication i found i actually like started going around the website very good tom's been around forever yeah i was like og very good very good tech coverage um so the i guess what they did at tom's hardware is there's going to be a conference next month icss i believe is the conference name uh iscc iscc i double s double c

um at the end of next month marty uh i wrote it out in the newsletter it's uh international Solid State Circuits Conference. Great name for a conference. Yes, the International Solid State Circuits Conference. Next month, a virtual conference on the 23rd. Tom's Hardware saw that Intel has a talk on the 23rd about chips and they sort of pieced together like, oh, it looks like they're making a Bitcoin ASIC.

And they cross-reference the future talk at this conference with an interview that the lead systems architect at Intel did at the end of last year with some gaming YouTuber and in that interview he did allude to the fact that they're working on an ASIC

because he was asked if they're working on GPU mining stuff specifically or if they're going to throttle GPUs so gamers don't get outpriced by people trying to mine shitcoins and he's like, no, we're working on a cryptocurrency mining

thing but it won't be a GPU. shot 256 specific intel in 2018 took out a patent that was specific to a shot 256 data pathway as well so that shot 256 hashcast shot 256 is the hashing algorithm that's specific to bitcoin so all this leads us to believe that intel is going to drop or at least unveil an asic next month at this conference and then further confirmation came when the news that grid which recently went public bitcoin mining company here in the u.s with a great team shout out harry sadak shout out mike hamilton everybody there um uh they uh basically dropped uh an announcement that they they signed a deal with intel to um begin getting some of these chips and plugging

them in i believe september they're going to be delivered no no september is when they signed the deal in september yeah and through may 2025 the grid deal guarantees them uh 25 of intel's production that's pretty insane yeah may 2025 where will bitcoin be at may 2025. that's uh where will hash rate be well so this is this has massive implications so let's let's start talking through this i just spoke for a while i don't know if you want to come in uh and add anything to what i just said but i've got obviously being in the mining industry and having chip production be the most centralizing factor of the bitcoin stack right now in my opinion this is this is a massive topic keep going you're on it yeah i mean so intel entry obviously intel's massive chip manufacturer

right now in the mining space we have bitmain we have micro bt we have a it's somewhat of a duopoly there are other actors canon minerva other people producing basics but yeah yeah they're minuscule compared to micro bt and bitmain and micro bt is the the former former bitmain guy yes and created micro bt yes yeah dr zhao uh who designed the s9 went and started micro bt so a lot yeah there's a lot of uh intermixing there a very centralizing bitmain has their They're chips produced by TSMC in Taiwan. MicroBT has their chips produced by Samsung in South Korea. I really like that MicroBT is leveraging Samsung.

Bitmain leveraging TSMC is a bit more unnerving because of the looming potential of China to try to do to Taiwan what they just did to Hong Kong. So seeing an American chip producer step into the fray with the Bitcoin ASIC is massive for just de-risking the mining industry, particularly how chips are produced. Where does Intel have their foundries?

I think they have some in the United States and Canada, right? They're not making them in Taiwan too? I don't know. They might be. I could be wrong here. I thought what I heard is that they're leveraging a foundry with 7 nanometer capacity in the U.S. I could be wrong though. That's good.

if anybody in the comments wants to correct me on that please do so whatever Intel's an American company they're stepping in yeah it's still it's still massive

that an American company especially the size of it Intel is doing it right yes I think Andy Grove is smiling in his grave right now

we've shit a lot on Intel in the past and said that Andy Grove is is turning in his grave but hopefully this is a

a good foray into it. And so, Takar, if you go back to that article, Raja, who is the systems design architect for their chips at Intel, go up a bit.

You don't have to play the video, but go down actually. There's a quote. Yeah, that block quote. I'll highlight the last sentence so I can read it. There are one sentence above that too.

So this is him. They, they've being able to do much more efficient blockchain excuse me let me read this um there's a comment yeah so they think they think so basically what roger said during this podcast um alluded to the fact that the intel team believes that the asic producers in the mining industry right now aren't being as efficient or or doing it the right way so he's saying that intel can create these chips at a much lower cost much lower power draw which is huge for efficiency um and and they think that they can actually produce a better chip

than than bitmain and micro bt yet to be seen i'm always inherently skeptical of any anybody knew even intel entering the ace of game it's historically been filled with a bunch of duds With that being said, I'm cautiously optimistic that they will. Grid signing a deal that gives them 25% of the inventory through 2025, that's a massive amount of potential supply for them, which is good for the mining industry and good for Grid. But it's also a risk, too, that they definitely had to evaluate internally. And so if they're willing to sign that long-term deal,

I would imagine they had to see the chips to some extent and are validating like, all right, we're confident enough to sign this deal to have access to a quarter of your chips. A couple of things. First of all, we have a freak in the comments, Emhart, saying that we have foundries in the United States that are at Chandler, Arizona, Hudson, Massachusetts, Rio Rancho, New Mexico, and Hillsborough, Oregon.

Um, I don't know if those are Intel specific or whatnot, but that's from the freak. I'm heart. Um, the other thing is a hundred percent, Marty, you know, there's been a lot of people that have made big claims, uh, in a six pre-production that I've not delivered. So it, it's yet to be seen necessarily. Um, if these Intel chips are all, they're going to be cracked up to be, obviously Intel is going to be saying they're going to make the best chips, right? Like that.

Why wouldn't they say that? The third thing is my understanding of the grid deal is grid is protected to a degree. If the chips perform as they're supposed to be expected, they get 25% of the production. But if they're not, then grid has an out. So I wouldn't use it as so much of a validation, but it does show that Intel, at least if they can do it right, they have the demand and they have that supply chain lined up. and then last but not least like it's just really good to see ASICs out there that will have American

backdoors built in instead of Chinese backdoors right I wrote the newsletter about it this week and somebody like in the comments in one of the tweets was just like have you ever seen this it was like the Intel kernel it's like it's backdoor as fuck it's so backdoor

yeah you can play we're gonna play this and then car when you're done that Could you actually bring that chair in and put this on top of it so it doesn't look like I'm staring at the ground? According to Amhart, those are Intel fabs, and they have fab production sites outside the United States that include Ireland, Jerusalem, another one in Israel, and one in China, mainland China.

Thank you, Amhart. Appreciate you. My goal and our goal as Intel for the first few years is not, you know, the financial incentive. We need to get an install base in-game or machines, right? Some interesting enough install base because then the ISVs will pay even more attention to us. The game developers will pay even more attention if there is enough install base.

So my priority is to get a good enough install base, right? So my GPU is sitting in a mining farm, no install base, they don't show up anywhere, right? Yeah, that's not doing anything for the business as a whole. Yeah, so that's why, you know, it's very myopic for me if I just think about, like, you know, the thing. So that's one part of the answer. The other part of the answer is that we do think, like, you know, this whole blockchain, I'd call it, whether, you know, which coins are good or, you know, that's a whole separate session we should do at some point of time to no doubt. but i think blockchain is a transaction thing that is run much more efficiently than the current kind

of you know the burning of hardware cycles is something that we are working on okay um we and and that's not a gpu thing so don't kind of confuse it as it's a gpu thing no no gpus gaming and all those wonderful things but being able to do much more efficient you know blockchain validation you know much lower cost much lower power and all is a pretty solvable problem and you know we are working on that and you know at some point time hopefully not too far into the future uh you know we will kind of share uh some interesting kind of you know hardware um you heard it there first what did we hear

I mean he didn't say ASIC but they're working on it I mean it's been confirmed yeah I mean they've found the agenda for that great conference ISSC or whatever so like it is confirmed but that conversation

just showed me that both of them are going to have fun staying poor yeah the blockchain transaction validation thing did you see how smug that podcaster looked when he talked about when he brought up cryptocurrencies i wasn't paying attention to it what'd he do yeah i don't know he just looks smug as fuck he looked he looked like a no-coiner is what he looked like yeah yeah maybe he is a no-coiner but oh he definitely is i would bet stats on that intel's in the game that's the other thing too i believe it's a seven nanometer chip so top of the line machines right now are

five nanometers so maybe they're producing what steve barber has been begging for for some time now which is the honda civic of the asic industry which is something that's not top of the line but is profitable if it's efficient enough and cheaper so you can have more uh and you can have smaller or not as well capitalized miners get into the game so it's uh if if they can produce it should do many things again adding another player in the ASIC chip production game

and then if they can make it more efficient and cheaper they should open the door and make home mining and smaller scale mining more viable as well which is good even better for the distribution of hash rate ownership it's bullish everywhere you

cut it even if they fail it's bullish just attempting to it's bullish so the combination of that news which by the way has has no effect yet on on the hash rate which is already pumping but we have that news hash rate is pumping it seems like miners are getting online a little bit quicker than i expected but another thing is uh i'm hearing a lot about uh the new gen asics getting upgraded firmware there's a big there's a we i think we severely underestimated how much a performance bump

the more recent ASICs, the S19s, etc. get from this firmware and how quick the firmware got released to the miners. Are we talking Brains or Bitmain firmware?

I hear that maybe Brains is working on something, but I hear there's some other players that are just firmware specific that are making custom firmware for specific miners that are larger scale miners for their specific situations uh that are like finely tuned for their specific situations that give massive performance uh improvements are you saying like firmware specific for cooling immersed applications or yeah like whatever whatever the specific minor setup is

um what you know if it's air cooled or if it's immersion what what's the ambient temperature in the area they're running it which hardware they're running it on um like literally like mercenary firmware you know like this is my setup i have this much pedahash you know make me a firmware and i pay you i mean this is it's the way it should be that's that's the thing people need to learn especially if you're getting into medium to large scale mining too not every situation is equal you need

design specifications for your particular environment whether you're somewhere hot somewhere cold you need to take those variables those external variables into consideration and then inside your environment like

are you doing it in a shipping container are you doing it in a big mining warehouse and you need to design not only the physical architecture of your setup in a specific way, but your software firmware as well. The firmware will be changing things specific to the environment that these machines are running. And so that makes a lot of sense. And it's bullish to hear too, like more firmware providers is what you want to see as well. On top of that, until it made their announcement, and Bitmain announced they're launching

a 198 terahash a second automatically cooled miner. I believe it's water-cooled. It's coming out of the box already with a water-cooling setup, and that's going to be, if it is as advertised, I mean, almost 200 terahash a second is by far the most high-performance machine on the market when it does come if it does come and what's really nice about that so so that looks

very similar to uh what you see with like liquid cooled uh gpus and uh processors like on consumer machines you see it a lot in like gaming computers um so it's out of the box just comes ready you don't have to like do an immersion setup uh and then the second thing is for home miners smaller miners people that really have issues with heat and noise uh it should be substantially less loud which i think is a massive a massive thing and obviously instead of air cooled instead of like being the hottest space heater ever uh it's liquid cooled so you don't have to deal with that heat as well yeah i think as much i think bitmain's bringing this to market because they know like From what I understand, a significant amount of hash rate

that has moved from China is located in Texas. A lot of these miners are massive Bitmain customers. And so I think Bitmain offering this cooling miner, this cooled miner out of the box, I don't even know what to refer to it as. Liquid cooled miner. Liquid cooled miner out of the box is too front-run because Texas being the mining capital of the US,

It's a big meme right now, but I will say, I think a lot of people are, I don't want to say LARPing, but they're posturing in a certain way. Like, yeah, we're going to have the biggest mining set, but they don't realize, like a lot of people don't realize that you can't run these air-cooled. The immersing system is not hard, excuse me, not trivial to set up.

And Bitmain's noticing like, all right, a lot of our customers are going to be in Texas. They're going to need a cooling system. They're either going to build them ourselves or we can provide it to them. So they may want the margin on the cooling features. So they're going to provide it out of the box instead of letting their customers go build it in-house.

And then on top of that, they're front-running potential FUD in the future of their miners crapping out and heating out. And they're front-running MicroBT and they're front-running Intel, potentially. right um i mean to me i mean like the micro bt hardware seems better right now the new gen specs the new gen hardware on both sides if you're talking about reliability you talk about upfront costs you talk about all the different trade-offs the micro bt hardware seems better

uh the best thing that bitmain has going for it is in all these customers whether it's brains or whether it's these mercenary firmwares it seems like the firmware support the custom firmware supports a lot better for bitmate they could add this onto their quiver as well um you know that that gives them a nice leg up on on micro bt right yeah yeah it's uh it's a big move i i think they're supposed to start hitting the mark in september i forget exactly yeah like take all these number you know dates with a grain of salt like you should never pre-order a minor in general um see i don't i don't agree it's definitely risky it but it has produced good returns don't pre-order like a well sometimes otherwise sometimes it just wrecks people yeah s17

dragomans wreck people like so like if you're going to pre-order pre-order with a with a established producer i would say bitmain fucked up on the s17 pretty bad but that was many would argue because jihan and mccree were going through like an internal battle and their company was just But aren't the S19s having reliability issues too? I'm not sure. I think they've been way more reliable than... Did you not hear about this PSU issue? No.

Is it the S19 or S19J? I don't know. Their naming scheme fucking sucks, but there's supposedly a looming issue on Bitmain PSUs for their power supplies. Are they burning out too early? And those power supplies might not be easy to get, so then you just have a fucking brick there.

Yeah. if you're a big main miner consider you know stocking up on some extra yeah that's i mean that's another thing uh if you're a miner getting like medium large size like just buy in bulk psu's uh fans and those two specifically my psu's and fans but this is the thing they change these psu's too from model to model it's like just like a pain in the ass um so make sure the specs of the psu are set up for your operation as well but anyway But the most important part of this conversation is that me and Marty were absolutely wrong.

You pressured me to go under. I think I said push to hire. I would have bet you, I would have bet you, you should have taken my sets. I know. I know. The freaks can go back to the tape.

I'm opening this announcement for BitMEX. Do we have anything else to add to this mining conversation? uh no it's exciting though it's just interesting that like people are so so many people are bearish on bitcoin right now i mean we have someone in the comments saying someone i galloway i don't even know who that is and sub 20k bitcoin meanwhile like bitcoin hash rate is is is that it's about to hit a new all-time high if it hasn't hit it already um so many fundamentals are bullish as fuck and you know the whole macro landscape is just uh a bit of a cluster right now and you know you see stocks being weak everything else being weak and i just yeah the relative the

relative uh yeah the relative strength of bitcoin during this equities done particularly like nasdaq yeah has been uh sorry what are you sorry about i know because i uh car put up the comment on on screen is Scott Galloway, an absolute joke of a dude. Yeah, I don't know. Maybe it'll go under $20K, but I don't expect it. I'm bullish as fuck, which means we're probably going to dump under $40K by the end of this episode.

Hey, everybody panic sell right now. We're going to reverse the juju here. And the Intel news stepping in as well. Again, the bullish fundamental indicator, because Intel's stepping in. If they're successful,

if they begin producing a massive amount of Bitcoin ASICs, that's a market validation. And like it or not, humans are social creatures. They like social signaling from brands they respect. And Intel is a massive brand in the United States. And if they're producing Bitcoin, mining chips and selling them, that's just further social validation that should lead to more acceptance from the public at large. And then even on Capitol Hill, like it's going to be harder for politicians to try to shut down Bitcoin when Intel, one of the computing behemoths of our economy is, is getting in a mess. Um, so very bullish on all fronts. Here's to hoping that once the miners do hit the

market, that they, they perform as advertised. Cause that would be, that would be incredibly bullish for the distribution of the mining industry, which is desperately needed. Again, the most centralized part of Bitcoin, I would argue, overall, is the chip fabrication part of it.

I mean, I would also go the other way, though. I hope they're not too good. Why? Because the miners that we have will just make less sense. I don't know. I don't want Intel dominating the Bitcoin mining industry either. That's a good point.

yeah they have a lot of foundry space right hopefully they like come out with a nice solid mediocre miner yeah hopefully they make the honda civic of of the mining industry and steve barber has been desperately begging for for for years now on to the next topic bitmex buying a bank uh they were intense to buy a bank german bank bank house bank house um it means house of bank this is interesting i guess i assume they're trying to buy their way into being a an actual like say crypto products financial services i i think i think it just goes to show uh how uh effective they are in operators where they like it's crazy like bitmex was like the number one bucket shop, non-KYC exchange. They executed fantastic in that regard for many years. They

held out longer than most have been able to, even though they were massive. Number one traded at volume. They arrested three of their founders just to get them to force KYC on it. And then they added KYC within a couple of months after that, gave everyone a warning. And now they're just executing on the KYC vision. They got a bank, they're buying a bank. That's crazy. I'm a bit impressed.

I mean, the BitMEX team has always been quite impressive, like you mentioned. Bitcoin exchanges buying banks, that's a good meme fodder right there. Banks are buying us. Bitcoin exchanges are buying banks.

We were mentioning it before we recorded, if you freaks haven't seen Citadel dispatch this week uh very lively and informative conversation about kyc aml cheers um with stefan lavera laser hodl uh diverter kyc and zelco um really good conversation about this but it's like yeah it is impressive to see bitmex buying this bank but it's like fuck like the original product was the future of finance and you're having to revert um yeah but if you're already fully kyc might as well buy bank yeah yeah maybe they can use that bank lobbying power to fight against kyc um yeah no but i really enjoyed that dispatch that was a good conversation um the one thing we

didn't get bitmex shipped for is they did launch a token recently too i didn't realize that they did but like all the all the big exchanges have oh yeah i did remember seeing that yeah i think they call it the 100x token or something i don't know yeah they're all launching tokens they should be worried about security i don't know if you have it on the list did you see that crypto.com hack i did i did not put on the list because they're not a bitcoin company you know they got a lot of bitcoin stolen apparently too ergo ergo we should talk about that but before we leave bitmex i just want to say whether it's the binance token or the ftx token or the bitmex token any of these exchange tokens they have similar risk profiles as a stable coin like

tether or something like that like there there's no decentralization censorship resistance anything they're completely centralized you have to trust the exchange uh they could be worthless overnight just if you are dabbling in those just keep that in mind and they often behave like quasi equity like a stock but they're not a stock you don't have equity rights so just keep this all in mind if you're gonna fuck with those things yeah just don't fuck with i'm like why yeah these exchange tokens don't make any sense to me whatever the reason i brought it up because crypto.com has an exchange token obviously they're spending a lot of money they got matt matt damon uh matt damon yeah they sent matt

damon to the moon yeah man damon the only only uh what is it fortune favors the bold uh or the brave was that the slogan yeah uh that commercial has been splattered all throughout the u.s and everywhere and yeah crypto com got dot com got hacked this week or within the last week i forget exactly how much money car if you can find that i think it was 33 million wasn't it It was like $15 million, $18 million Bitcoin. Oh, I thought it was $33 million ETH and then a significant chunk of Bitcoin on top of that as well.

We'll find it though. Carl will find it. But yeah, just be aware. Single points of failure. That's the other thing. Crypto.com, they're doing all this ad spend. They're launching their own exchange token. They've got a bunch of shit coins

and they can't secure their stuff. how are they how are they not they have this marketing budget how is none of that being allocated towards what's the breakdown they're spending all this money

and they can't even protect your bitcoin or ETH if you're an ETH person as well well to be I mean I'm not gonna these accounts were 2FA secured as well everyone was reimbursed yeah i mean like from a customer point of view you they never really lost money but yeah i mean

yeah i imagine that that matt damon commercial and all that ad spend is worth more than 33 mil so they must have money to burn um allegedly they had matt damon pay out of pocket all the customers who lost money from the film actors guild yes that matt damon oh my god team america is such a good movie instant classic i don't know it would be allowed to be made today oh no and i don't think trey parker matt stone would make it um today and they had to they had to edit the book of mormon because people were woke people were um yelling at them which i think it's terrible did they really travesty yeah they changed some of the scenes in book of mormon towards the end after the fact yeah like recently in the last year which is uh supposedly supposedly

the mormon community loved it which is hilarious right it's like the people that complain aren't even mormons right i loved it it wasn't i i went in college and saw it when it was in chicago it's a great a great theater experience if you will um yeah i saw it twice this was an interesting thing i'm very interested to hear your take on this chris stewart from short bits uh took to the short bits blog this week yesterday to explain a scenario that he discovered where taproot funds are being burned on the bitcoin blockchain and i think they're it has to do with people not properly working within the bit 340 specification and before it's back yeah the taproot spec um so but he did say like he doesn't know if it was an accident or just someone fucking around

um he just thought it was prudent to disclose it and like what is it it's like 200 000 sats i think yeah there's one that he found um yeah so it's nothing yeah and i haven't but it's good yeah it's good that he it's good that he you know made a disclosure about it at least someone's talking about it but yeah yeah i don't want to hear like the shit corner saying like taproot has failed or something like that like this is 200 000 sats which is uh you know 80 bucks or something in current value marty's anchored on 50 000 bitcoin yes parker parker lois want to come in here come in here parker just don't shoot him have him join us for the conversation i'm not i'm looking to show him yeah parker parker our first rhr at the commons do you want to do you

want to come say some words come say some words parker you can't hear me what was that all right take your time he's gonna come back he's camera shy yeah car's gonna set up a mic for him um what were i just parker lewis just just completely he's is that a glass wall behind car that like are you looking at car and then parker was behind him yeah parker's now parker's back i was just saying parker you're you're mesmerizing i lost my train of thought you came in now like we're lost in our hr we were talking about how you shouldn't shoe parker and you should have him uh join us in the conversation i'll let you back and hear me hear me uh we can hear you parker and we love you oh he can't hear me anyway

what up Parker there you go Parker where are we right now what is this what's going on we're in the Bitcoin Commons TFTC studios we got the first bit devs tonight looking forward to it

trying to get Marty to actually I'm going around top tomorrow don't even bring it up I've been furnishing this place over the weekend the internet just got turned on yesterday

okay was there like no chairs in there Parker you're just squatting in front of the camera that's right we actually had Lisa in here

how was that podcast that was a great one Lisa's a great conversationalist it was a good time she's smart as fuck dude yeah he brought a chair

for Lisa I did I did not for my unexpected pop in what are we doing with the Bitcoin let's get a Bitcoin

common show in here I'm very excited The vibes in this building right now are very high. Very high. Yeah. Matt decided not to come, which I take as a personal slight, but he's coming in March, I think. I'll be here in March. I just checked my watch for the date, but I'll be there in March.

I'm looking forward to it. Too much travel right now. It's a pain in the ass to travel. Agree. Parker loves the TSA and the airport experience and all that. Yeah. I'm a big fan of it. I talked to Matt yesterday about how I'm giving up all commercial air travel.

only scheduled flights no scheduled flights that's it oh that's right sorry I'm new to this parking at your face placement with the mic in your hand is not perfect right now hey we're gonna work out the kicks

there's only one camera here that's what's screwing up I gotta be like this what's the plan at BitDevs tonight what's the plan yeah give a BitDev show first BitDevs at the new space

the new office right yeah first BitDevs at the new space really you know kind of BitDevs was the inception of the idea of Bitcoin commons and with awesome BitDevs it really has I don't say this to be insulting

like people fly in every time from all over the country and uh it's it's pretty fun we know it's so taken yeah yeah you know people now fly into nashville too like right we want to we want to create this as a tradition everybody flies all over the place 100 percent um i think unscheduled though unscheduled definitely not scheduled um but um but really some of the inspiration behind it was that we all went the three of us amongst many other Bitcoiners went to Bitcoin or BitBlockBoom in 2020. And it was, that was really the inspiration for a lot of us to, to stop blocking down, to stop putting up with the

bullshit, to go on living our lives. Bitcoin doesn't sleep, but that we started Austin BitDevs back up about two weeks after BitBlockBoom in 2020, in 2020. And literally people would walk by the street looking at us crossways, like why people are getting together, why people are sitting inside not wearing masks and uh what we recognized was that controlling the space uh to be able to ensure that bitcoiners have a place to come together each month that if you do not control the space for bit devs then you cannot ensure that and that um that we recognize that we as kind of partly as stewards as unchained and me personally that we needed to uh despite the fact that we were scaling and that we needed a larger space that we needed to create a home for

austin bit devs and then that inspired if we need a space for austin bit devs then let's expand on this vision and that is uh the bitcoin commons and marty moved here and uh we uh we talked to him about needing a proper recording studio so that he wasn't ripping sigs outside on his porch and it was it was really more for uh for marty and for my health for his health um this is a non-smoking building what kind of cut shit is that we're gonna change that don't worry we're gonna change that there actually is a window right here so yeah we're gonna get velvet we're gonna get velvet uh curtains in here too and it's gonna be a great cigar room it's gonna be credible first of all mad respect for for austin bit devs i think i was there in september was

the one i went to it was freaking awesome um i look forward to going many more times uh probably not by private jet i will probably be driving uh but um we'll create a bus of bitcoiners from austin nashville no we no uh gentlemen we need to create like the bitcoiners airline like it needs to happen We all talk about that. I can't do the TSA and the mask anymore. It's too much. Airships.

Honestly, airships, whatever. We need the NVK of airships to come out. We just need a Bitcoiner that's had enough and just comes out with the cold card of airships. I just want to stream payments over lightning. Yeah, I want a pleasant flying experience again. Can somebody build it, please? Neil's right like the reality is it's going to be a fucking party bus but you know we can

dream and then eventually it'll be airships but my question for you Parker before you leave us so first of all BitBlockBoom 2020 super special I was very happy to be a part of that I mean people thought we were absolutely fucking crazy to all meet up

you know especially the management of the hotel yeah and I'm pretty excited that it's going to be in Austin this year same time as it always is in August, uh, late August, but which I also plan on being on being too, but it'll be in Austin instead of Dallas. But you mentioned that you said restarted Austin BitDevs. That wasn't the first one. There was one before COVID as well. Yeah. Who was running that? Were you guys running that? Yeah, we were hosting it. We basically, when, when the world shut down in March, we stopped

our in-person Socratics. Uh, and then, you know, and it's hard to go back to that point, but the world was still very much locked down to Bitcoin, the block boom 2020. Um, and so we had basically taken a hiatus for five or six months. And, uh, that gave us the confidence to say, all right, we're doing this again. There were about five of us driving back. Um, Dan Guma, um, Justin Moon, Will, um, must've been one, one or two others all driving back from Dallas. And that was, um, you know, kind of the inspiration to restart. But then really, I think it was American HODL who then started recruiting people to come to the one in January about five months later

and then Austin BitDevs took its life of its own. Marty came down in April. That sealed the deal of him moving to Austin and the rest was history. And here we are. At the Bitcoin Commons. You guys can't see it now, but they're setting up for BitDevs. It's a much bigger room. Hopefully

less hot than your typical Austin BitDevs meetup. Less stuffy, which I think this building will provide. It's going to be beautiful. there's a lot of podcasts people can we'll be able to rent out the podcast space it will be tftc studios but it will be conducive to bringing all people together to talk about bitcoin and to be advancing bitcoin and bit devs is going to be special tonight it's going to be a little spartan

but uh we're going to do big things here yeah i'm excited respect and congratulations hardest working man in bitcoin right here thank you for all that you're doing for getting us in the commons and recruiting me down here i'm very excited the second podcast recorded in the commons already yeah when are you running for mayor is this where your your mayor campaign is going to be run out of you know i went on safe dean's podcast uh yesterday and daniel prince or his seminar and daniel prince was there and daniel brought on lauren and she asked me that question and uh i will you know so lauren always asks the hardest questions so you guys best interviewer in bitcoin best interviewer in bitcoin clearly i told i told daniel after i really enjoy her questions less so

his, um, he took it in the right spirit, but, uh, I'm only running for mayor if I have to, you know, I think, uh, Bitcoin does need a proper Citadel, but I'd much rather be working on Bitcoin. I don't really have any political aspirations, but, uh, we got a lot of Bitcoiners here and if, uh, if, if called upon that I will, uh, I will run, I will win. But, uh, if all things go schedule, we'll just be doing poppins on rabbit hole recap rather than, um, moving a few blocks over to City Hall. And we'll have a couch for you in your next pop-up.

Even if you're married. We'll schedule the next pop-in so I don't have to be sitting down here like an idiot basically in Marty's lap. I'm very impressed. We've got an expert squatter here. The squad.

Your thigh's got to be burning right now. I could do this for days. Love it. All right. With that, thanks for setting me up. Parker, we're thinking two sets here too.

We're going to do like the chair side-by-side and then the round table over here. So we're going to have a plethora of setups for podcasters coming through. Love it. Parker, when you're mayor,

I still expect the Poppins to happen. Absolutely. Even more so. We're going to get a city update. We'll accelerate Poppins. We have Mayor Lewis here for the city update. All right. With that, I'm out.

Peace and love. Thanks, Parker. Enjoy the night. Thank you, sir. All right. I'll see you after we record this. What a, again. I don't think you freaks understand.

He is the hardest working man in Bitcoin. I'll get calls at like 11 PM at night. Parker's like, all right, like what are we going to do? He used to meet up this, this month. I'm like,

dude, it's 11. I've got a kid. I've got a wife, but I'm here to talk to you for the next hour and a half. That's how it happens. This is, this is how it happens.

Uh, the vibes in Austin at the commons are high first day in, uh, right now we're going to keep going down the list. Uh, porn's not that bad and can even be good or great. And now on the shout outs, a note from the council of meals on shoot shoegate to shoot someone is to admit the lack of nuance and creativity, two traits we believe integral to our existence as

meals. As such, we believe any case of shooing someone, even a Ben is an injustice. We cannot ignore while we are superior to Ben's in almost every way. We would never stoop so low as to shoo one of them we stand with ben uh and two things here porn is bad uh it's gonna rot your mind it's bad it leads to degeneracy and low t levels and bad cultural stuff and number two no shoo it i'll keep shooing neil's and ben's good thing good good job neil's you just got on the shit list too. If you ever come in, you're getting a I just want the record. I'm waiting for Neil Woodfine because he's an unshamed guy. He's a friend.

I had to shoo him now. This is unacceptable. Yeah, he's part of the council. I just wanted to be clear that I also stand with the Benz and the Neils. Is ShoeGate the biggest story in 2022? ShoeGate, so far, ShoeGate is

it's caused a lot of drama. I think this is the second shout out about shoes. uh so thank you thank you neils for the shout out that was the only one thanks for supporting the show that was that was the only one of the week um and now we're on to software updates mempool version 2.3.0 has been released mercury wallet version 0.5.9 has been released onion share version 2.5 has been released simple bitcoin wallet Matt's favorite Bitcoin wallet version 2.4.27

has been released you joke but it's a really good wallet yeah I know Lightning Pool version 0.5.4 has been released Umbrella version 0.4.11 has been released and TDEX version 1.2.4

has been released that was it for software updates we're going to link to those in the show note as always not to rush I don't think there's any pressing vulnerabilities or bugs that need patching in any of these software updates, so if you're running any of these softwares

and want to check out what is the latest version and what is included in that, you can find links to all of this in the show notes. We already talked about this next topic last week. Did you want to re-broach the subject?

Oh, we did talk about it? Yeah. It wasn't in the show notes. So I put it in the list. I wasn't sure. We can gloss over it. We can mention again uh el salvador it's worth mentioning again yeah the el salvador government uh is using the pegasus spyware to surveil journalists within the country they're hacking journalist phones yeah not good not a great site uh especially since he's meeting with erdogan right now who also hates journalists um and has a horrible track record in in that regard

yes so president bukele naib bukele is meeting with uh isip what was his first name resip erdogan i can't pronounce i think it's resip resip erdogan who's the president of turkey and someone of the dictator from what i understand right like yeah i mean he's like a straight up yeah he's a straight up dictator yeah he's in the process of completely demolishing the turkish lira uh bukele i give the benefit of doubt to a degree uh erdogan is just a straight up horrible leader dictator authoritarian yeah agreed um so they're meeting and there's a lot of speculation like is bukele meeting to to shield bitcoin specifically um i think so he's been tweeting at him in turkish uh that that he that he plans to shield bitcoin to him did you see like the

rumors that that turkey is gonna make bitcoin legal tender i did not see them but it does not surprise me if these two are meeting maybe he's giving him advice you want to bet on it no why do you always want to bet i because i like betting i like skin in the game all right let's bet on this one i'll bet on it by the end of the year uh no because like you think turkey's gonna do legal tender no way yeah erdogan's like he's more of a cbdc guy i would imagine yeah but see you not betting is also like that's good too i'm cool with that because it shows that you have proper skin in the game agreeing with me oh you're gonna try to force me into a bet i'm not trying that's my point i'm not trying to

force you to bet my point is is you'd be an idiot to be betting that turkey's gonna do legal tender like it makes no sense he has his own currency he likes having full control over the lira he could give two shits if it's i mean he cares a little bit obviously that it's devaluing and is in a death spiral uh but he's gonna hold tight to his shit coin like he's not gonna he's not gonna move to bitcoin he definitely doesn't want his people to be using bitcoin um you know in a censorship resistant way by any means no we'll see we'll see i'm not betting on and also like bukele's meeting with the chinese and like getting them to fund his library and his soccer stadium his football stadium you know like yeah he definitely wasn't orange pulling them

yeah it's i mean freaks again like we said last week we touched on this last week just don't have too many heroes especially political figures um crushing elbows with these authoritarians we have young lurks saying that the turkey legal tender tweets were a troll my bringing up of it wasn't first of all i did not see tweets people told me about them which makes it extra hilarious uh but it's better that it was a troll i i assumed it was just one of those engagement accounts that that's tweets out bullshit in all caps the bloomberg highlights well i don't think you should have bloomberg i mean you just meant you just dealt to one or whatever yeah i mean you should have mentioned all caps you should

have said like just taking bloom because you're an all caps guy yourself yeah when is cap so when's he coming back you know when you least expect it okay i like that i like that i like to be surprised um but caps odell was came out of those bullshit gaps accounts yeah like it was like it finally i was like the first caps odell tweet i was like 10 drinks deep i was just like fucking triggered by like another all caps tweet and just caps odell fucking came out uh i can't wait till you get triggered again and get you know that that account walter blueberg or whatever delta one like delta one i'm blocked i can't see any of his tweets because i tweeted in all caps it's if it's in caps it must be true or whatever and he fucking blocked

me like eight months ago ten months ago walter that's pretty soft yeah like i wonder why he does that account because he's just scraping headlines off of bloomberg because he does he monetize it at all is he able to monetize this following it's definitely an influence play like he has he probably has some tweets that are that are like bullshit and paid for or something to that effect and then some tweets that are actually from Bloomberg because they're not all

from the Bloomberg terminals that's a some good insight there I didn't realize that I don't know how many followers he's got to have a shit ton of followers this is a popular account I do sometimes feel guilty retweeting him because I know it's like a pretty

low effort leech job that he's doing we'll get some sources marty it's just too easy he puts it in all caps it's right there must be true must be true uh speaking it must be true the uk government is planning uh publicity campaign against encrypted communication great pick which is not uh not a great pick but not a great sign that i mean and the uk has been trying to do this for a while right from what i understand all world governments have been against encrypted communications and open source tools that enable them for fucking decades now yeah even here in the u.s we've had

we've had clapper from the nsa or cia go up and try to get um yeah like look at the clipper chip they tried to yeah it was in the 90s backdoor yeah the the crypt this was called the crypto wars before cryptocurrencies were even a thing. And it's still ongoing. The war is not over. Governments around the world do not want you to have private communications. They cannot stop it,

but they can make it very, very difficult for the average person to access it. Criminals will still be able to access it. So any argument that is to stop criminals is bullshit. It's open source code. It's out there for the world. No one can stop the criminals from using it. So, anything they're doing is really just putting their own citizens and individuals

around the world at risk, even if they are honest, law-abiding people, which the overwhelming majority are. You know, stuff like iMessage being encrypted or WhatsApp being encrypted, both of those not ideal solutions, but they are better than plain text messages and they want to reduce that kind of easy access to encryption, which is just sad and short-sighted and frustrating, but it's going to keep happening. And this is why the free open source movement is an imperative.

So important. These people don't care about you, freaks. These politicians don't care about you. Like Matt said, the criminals are going to use an encrypted technology and law-abiding citizens are just going to get backdoored. and surveilled into oblivion. Again, we need to build out Bitcoin. We need to build out these free and open source softwares.

We need to protect end-to-end encrypted communications technology. And it's a human right. I mean, here in the United States, the Supreme Court has ruled in favor of end-to-end encrypted communications with the PGP wars in the 90s. It is a human right. It is free speech.

And the government does not have the right surveil every little message you send to your friends and family and don't let them throw the if you have nothing to hide then why can't we access this data that's such a weak argument something that they're going to try what i imagine they're going to do in this publicity campaign in the uk it's it's it's not just it's not just that the government has no right uh to surveil it's for it's that the government can't secure this information there's no such thing as a secure backdoor. Companies can't secure this information. You know, it puts people at risk to malicious actors, foreign actors, other governments, a whole wide variety of different kind of malicious

parties will be able to have access to all of your communications, financial data, everything, if we don't have encryption. So the key element here is, to me, is not necessarily the government surveillance it's it's the desire for government surveillance enables uh basically data compromises from a whole sort you know a whole assortment of of malicious actors and the only way to really protect it in a effective and efficient way is proper end-to-end encryption that is fully auditable and verifiable ideally free and open source software we're we're in a battle we're in a cold war war freaks they're trying to control you they're trying to throw you into this digital panopticon do not let them do not let them but in regards

to the uk government we got to get props where props are due shout out to boris johnson for eliminating maxine mandates and and mask mandates uh in the united kingdom i think like somebody on that stage of the geopolitical in that spotlight on the geopolitical landscape doing this there need to be a first move. I thought it was masks only

no I think it's vaccine and mask okay well I'll take either I'll take if it's mask only I'll take that again props where props are due stuff needs to stop and having the UK come out my understanding was like he pulled the mask

mandates but I don't know if he pulled the vaccine mandates is that you understood that for me yes you think it was mask only I think it's both I'm okay if it's mask only I hope it's both I mean he can go fuck himself but

yeah you get no credit from me Boris but hopefully I mean it's becoming obvious that the mandates are working and stop doubling tripling down on the problem stop compounding the bad decisions and let's start going back to normal um please oh yeah he said kitas said uk got rid of vax passes

yeah not yet that's what it was yeah not yet for national health service workers which is a shame boris go fuck yourself boris he's a weird man dude staying on to our, our, our macro Bitcoin coverage. Uh, there was a great article written by project Mano in Bitcoin magazines, culture section called suppressed by world superpowers. Ethiopia should turn to Bitcoin. Uh, apparently I didn't, wasn't even aware of this till I read this article that came out a couple of days ago, but the U S removed Ethiopia from the African Growth and Opportunity Act trade program, which apparently is a significant blow to the Ethiopian people. And the Project Mano is writing in this piece that they think Ethiopia should turn to

Bitcoin as like a, hey, we want to separate ourselves from the dollar hegemony system that exists throughout the world. And you know what? We have all these natural resources. We have a lot of energy. Why don't we tap into that, mine Bitcoin, make Bitcoin legal tender? I think it would be a good move. I would bet that Ethiopia is probably more likely to add Bitcoin as legal tender than Turkey would be at this given point in time. There's a lot of really good Ethiopian Bitcoiners out there. I think there's a very vibrant community and industry growing down there already 100 shout out calcasa calcasa the don what is cows working on um hoseki hoseki yeah and that's with sam sam abasi from formula fidelity boss shout out to shout out to all

the bitcoiners out there but in regards to this story particularly our ethiopian friends out there here's to hoping that you guys get Bitcoin as legal tender I don't understand the fact that we even have in the United States this act where we're stoking African economies is just weird

to me Marty you realize that we used to take people from their continent and bring them over here as slaves right well it was the Europeans that did that Americans did it too the slave trade it was like your europeans the slave trade

didn't end the americans bought we're not falling down the slave trade when we signed the declaration of independence there was an agreement made between states to end the slave trade at a

predetermined later date that ended after america was created I'll concede it it was like the slaves again we're just going to stop here we're not getting into it

know your history yes but what I'm saying you went to slave trade I'm trying to say I don't think we should be meddling this is like I'm just saying

it is very on brand for America I don't think it's that strange well this seems very Belt and Road-esque which I'm not like I mean we should not be doing it we should not be doing it

but but I'm not surprised that we are is my point i guess we uh touched on this before we went live neither of us watched the congressional hearing on cleaning up cryptocurrency uh due to uh being busy this morning obviously at that recording with lisa i'm setting up the new studio have not been able to hopped in and watch the congressional hearing though i have been following along via twitter and and group chats with people in the mining industry and apparently there is a bunch of

LARPers involved. One guy in particular for Columbia University was a hard shilling POS from Cornell, excuse me, was heavily shilling POS and deucing on Bitcoin's

energy usage using bad stats. He pulled out like the 0.5% of or 25% of all the Bitcoin is held by 0.5% of Bitcoiners, which is just one of the dumbest stats out there it's been proven time and time again that all these large wallets that these people cite are exchange wallets which represent millions of users and so

he's apparently or somebody on the hill brian brooks was there too i'm not sure um what his testimony was like and how uh factual and bullish it was for bitcoin but yeah and congress is having these hearings elizabeth warren called this one and the attack on bitcoin's proof of work mechanism is heating up it should be expected it's only going to heat up from here um but it will be interesting to see how we fight this battle i know i know how i want to do it which is how we have been doing it and like we own the media like we are creating our own media and we are we are going to get the message of bitcoin mining out there ourselves let's not rely on politicians let's not not rely on CNBC. Let's not rely on think tanks or anything like that. As Bitcoiners, we have our

own media. We're going to push the narrative that Bitcoin proof of work is a beautiful mechanism. It's making us more energy efficient. It is securing the soundest money that humans have ever come into contact with. And it is going to be a boon for humanity in terms of making sure that cheap, abundant energy is available to humans across the world. We are the media. Look at me. We are the media now.

Such a good meme. Well, it's like, I'm just tired. I mean, Nick Carter's done an incredible job of this and many others. When you get to see NBC, when you get to see these politicians, it's like, no, fuck that. We'll put the information out there and people will find it. Well, first of all, I have no intention of watching

this congressional hearing. Well, we'll cover it in more depth next week after some people write up TLDRs on it. But as far as I'm concerned, it's a waste of time. I don't think we win this with politics. I think we win this with free and open source tools and basically individuals seeking out knowledge and using those tools and supporting those tools and empowering themselves because empowered individuals are very difficult to stop. And frankly, I don't think we can be stopped.

um we can individually be stopped uh but not not as a whole uh the other thing is did you see what btcpolicy.org put out it's a new organization okay i saw that david's tweet yeah i've been helping them with it a bit uh i thought this was a very like it's very wordy for twitter but like this is like an ideal like if you actually do want to try and convince a politician like i feel like this is a nice way of doing it like it's very it's concise for politicians it's not concise for twitter but it's concise for politicians and that chart that single bar chart is like the single most important uh aspect which is that just bitcoin is basically using no energy in comparison to all these other mainstream uh things uh now and that means we're early

it should use a shit ton more energy than it's currently using but that one chart just fucking destroys everything yeah well that's the thing like and this is in the mining industry like that chart i mean right now yes like air conditioners use 3 000 kilowatt hours to bitcoins like less than less than 100 or whatever it's fucking insane sweat sweat in your house if you want to fucking complain about bitcoin's energy usage yes stop using your fucking dryers and hang your clothes up on a clothes rack it's also better for your clothes your clothes will last longer well like let's not even like yeah like it's it's this whole argument is so dumb and so idiotic like bitcoiners again like stop like being like oh we're only like 0.5 percent

of the energy usage and like look how efficient we are like stop like just don't even don't even like concede that you need to validate that bitcoin is using energy if bitcoin miners decide they are going to purchase energy that is available on the market and the utility provider or the upstream oil and gas company that is willing to sell you that energy sells you that energy you can do whatever the fuck you want with it you can run your air conditioner you can run your miner you can run a refrigerator like energy markets exist free markets exist and bitcoin miners if they're willing to pay for electricity at a fair rate like that is offered by a utility company or somebody else like they there should be no moral relativism to energy usage whether it be for air

conditioners or bitcoin miners and like matt said i mean like matt said we're all going to use more we're going to use more and more energy way more more way more and it's going to be a great thing it's going to be a beautiful thing it's in the process of using more more the way we're going more energy is incentivizing more energy production, uh, and more power production. And, uh, the effects of that should bring down, uh, electricity prices for people in parts of the world where they're extremely high right now and should bring more reliable electricity to them. Like we're not, there is no climate emergency. There's no environmental emergency. Like this whole humans versus nature thing is such bullshit. Had two great conversations yesterday with Eric

case in and then uh aj scalia and drew armstrong from cathedra disclaimer i'm on the board of cathedra but if you go listen like we dove deep into this topic about those conversations it's like we just got to completely reject this framing that's being put like oh you guys need to rationalize like bitcoin miners because of the environment it's like no shut the fuck up elizabeth warren like i'm gonna buy electricity and do with it what i want this is america this is a society we have laws we have rules stop trying to intimidate me

get the fuck off my lawn I mean I would I would say that there's never been an energy free market until Bitcoin existed Bitcoin enables that free market for energy I agree that's what I'll add

to that rant also Elizabeth Warren's focused on Kroger right now so I don't know why he dragged her into this she's the one who called this this subcommittee meeting when's the kroger subcommittee i don't know but dude oh speaking of that like i would also say one more thing that like i have no intention of dealing with politics i personally think that even this show has too much politics in it like i just what it's not i mean it's just not something that like i like to focus on i think it's a waste of time. But at the same time, I do appreciate that there are some Bitcoiners out

there working on it because there's a very strong argument that even though it's very inefficient and mostly a waste of time, if you can push back dumb regulation, short-sighted, stupid regulation in the short term to medium term and just give us some space, give us some space to operate, it just makes our job as American Bitcoiners easier so I there's some respect there for people that are working on this kind of stuff

me personally, no desire to focus on it I do have to focus on it a little bit because I'm in the mining industry so I had I was talking to the aides of representatives all last couple weeks giving them updates on

what they should approach understand um but i think in our case and i talked about this yesterday we just need to get states states wyoming texas kentucky west virginia oklahoma somebody number one make bitcoin legal tender and then just back the mining industry aggressively like just be like no tax breaks it's legal or no sales tax it's legal tender like please come and make us more energy efficient like we need states to lead the way on this i do not like be working through the federal government the federal government is bloated it's inefficient it's full with a bunch of geriatric old motherfuckers who are dragging this country down uh and they're doing it in a corrupt way

insider trading on the knowledge that they have as as elected politicians which is disgusting states. Stand up. Bitcoin permanent funds. Let's go. What was the sales tax coming about? I just used the Kentucky wave sales tax. But actually, if you look into the Kentucky stuff... Not sales tax,

right? Income tax? Or income tax. Yeah, no income tax. Do that too. So like miners, when you mine, it's income tax. Oh, the sales tax is on the energy side. When you're paying for electric, you pay sales tax.

yes right yeah um and kentucky has a little law specific to that but i've actually been digging into that law and the scale that you need to get to reap the benefits from that that tax break is actually pretty there's very few people that can do it so that might have been one of those those laws that i think american bureaucracy right you know helps the big guy yeah exactly um but other states out there wyoming north dakota texas where i'm sitting right now louisiana west Virginia, Ohio, Indiana, Oklahoma, like you guys have the opportunity out there to lead the way and to protect Bitcoin.

And that's the beauty of it too, particularly throughout the energy sector. Like people are starting to realize, and we've been covering this for almost a year now, that Bitcoin helps them out aggressively and all the big boys are getting in. They won't tell you, but in the oil and gas world,

all the big boys are talking about integrating Bitcoin mining. Some already have, they're just not announcing it like it is it is helping it is helping and states keep pushing the states rights autonomy theme i want it to accelerate moving forward it shouldn't only be texas and florida that they get the headlines for this this competition between there are two of the largest states in the country that's where they get the headlines there's plenty of other states that are fighting for this kind of shit yeah we actually had a freak uh reach out in dms

I don't know if you saw that, uh, who, who was pumped that we shout, uh, shouted out Northwestern Arkansas last week. He confirms that it's beautiful. Uh, and so if you're looking for, for someplace to, to settle down the good tax regime, Bitcoin friendly Northwest Arkansas. I met a Birmingham freak, uh, Birmingham and I don't know from Alabama, uh, last week too. Oh, did you? Good things about Alabama.

Yeah. Oh yeah. Tyler Ghost is asking will Odell address his privacy concerns over everyone playing Wordle what is this Wordle thing I just keep seeing I keep seeing squares this is like Boomer Uncle Marty

I see people tweeting about him like seems like one of those terrible I don't even know what are we talking about what the fuck is Wordle it's like apparently a game I don't even know what you do I don't know if you've seen on your Twitter feed recently there's blocks

they're black, yellow, or green and I guess that's somebody's performance for the day I don't know how it works I haven't seen it on Twitter I have no idea what we're talking about I'll take a shot at it don't fucking do it freaks

it's bad for your privacy we're done with the list and we're on to some TFTC most things in today's age it's probably bad for your privacy tyler it was a joke it was a very time i'm curious i don't know what wordle is um you'll find out next week yeah uh housekeeping things uh matt and i obviously we're scaling this thing we're adding shows and so we need to clean up the feeds we're gonna separate city

dispatch are we doing are we gonna separate rabbit hole recap too from the feed right yeah we're gonna get three separate feeds we're on the interview series which will stay on this feed we're going to spin out RHR to a separate feed I know Freaks is a big news big move but we're going to set up our RHR feed there's already a dispatch feed

and as we scale this up we're going to separate them just for simplicity sake and organizational sake we haven't set up the RHR feed we're going to do that next week we're still going to have rabbit hole recap on the feed

so don't worry about that yet. It's not on podcast apps yet as a separate feed. But Siddall Dispatch next week is going to be only on the dedicated Siddall Dispatch feed. So if you want to keep listening to Dispatch, just search Siddall Dispatch in your favorite podcast app

and click that subscribe button. Yeah. And go listen to this week's episode too because it was fire. Yeah. So just some housekeeping there. What should we riff on? Voltage. After we started after we went live voltage announced a six million uh dollar seed round i saw that so congratulations to graham paul miller and the rest of the team i just saw them uh last week as

well uh love those dudes boom boom boom yeah creating a one of the the highest caliber lightning service providers in the game right now um are they i guess technically not an lsp I think we need to be good about like LSP's provide liquidity right they're like an infrastructure provider infrastructure provider you can run a node in the cloud and make it easy

to do and stuff like that they might be an LSP in the future but I would probably not categorize them as one right now right I don't know they are providing a lightning service like helping people spin up nodes it's going to get super confusing though

I feel like the accepted nomenclature infrastructure. Well, the accepted scheme of calling something LSP is the provider of liquidity. A lightning service provider

is a provider of liquidity. But I agree that the words lightning service provider would also just generically apply to what they're doing. But then AWS is also a lightning service provider because you can run L&D on AWS.

that's a good call well shout out to Voltage Graham Paul love those guys I do it's been funny hanging out with Paul more in Austin shout out to Paul for the shooing gif

I will never stop shooing and Paul the Pauls are with me at least Paul liked the shooing I'm with the Pauls because he now knows how to get rid of Ben Carman you just shoo him away go follow Paul on Twitter

he got shadow banned for talking about COVID stuff at future Paul on Twitter have you noticed you haven't seen him on Twitter lately? yeah I haven't, did he really get shadow banned? I didn't even know he posted the shoe thing until like a week later

I'm pretty me and Paul were talking about this Paul came over to my house the other day and me, Paul uh my lady and paul's sister uh just sat around my fireplace uh discussing building of like building societies like basically building citadels we were like just did citadel theory for like two and a half hours um but he's like i'm pretty sure i'm shadowbanned that was the

point of that story he's pretty sure that he's shadowbanned paul somebody twitter get you off the list the shadow ban list uh twitter i don't know how our days are numbered on twitter and youtube are we just gonna fall like twitter i'm just gonna are we just gonna fall to face the earth yeah to those that don't know uh paul paul was the one of the co-founders of the verge uh he was one of the co-hosts of the verge cast um he parted ways with them the verge cast has fallen off a cliff. And now he is working at Voltage as a BitCorner full-time. So cheers

to him. We're going to get deplatformed like a motherfucker. If that's your question. I hope not. Susan. Come on the pod. Susan, come on the pod. Let's talk. Let's talk. I think our strike

on the Laser Hodl episode should be taken away. but we'll discuss that in person, Susan. You want to bet? If we get deplatformed or when? No, I don't want to bet. Oh, no. I mean, they'll never remove the strike.

I don't think they remove strikes, right? No, I've had a strike removed before. So this was technically our second strike? Yes, but we only have one strike right now. What was the first strike on before? Some vaccine stuff. I forget exactly what. I had to protest.

We didn't say what we think. Did you just self-censor yourself? did you just say vaccine very quietly I didn't mean to self-censoring maybe I did though

I think it was a George Gammon episode and we didn't say honestly it was pretty pretty tempered compared to

some other stuff that's been said on this on this channel before do you see what Count Bitcoin said no

are you getting paid to promote strike strike baby hey there another team killing it Jack Mallers he was in Nashville too wasn't he

he was in Nashville the last week we kept it on the DL this is the first public acknowledgement that he was in Nashville we did we did an unannounced fireside chat at Nash Bitcoiners

I'm sorry if I'm blowing up the spot there was about 150 ride or die Nash Bitcorners that came out to talk about lightning and had no idea that Jack was going to be there and we did a fireside and we didn't record it because

because well we did record it and we deleted the recording because it was lit as fuck it was a conversation hell yeah hell yeah fuck

I'm excited man the vibes are high here the Jacks are way stronger than the Benz and the Neils the Benz and the Neils are piss ants compared to the Jacks what about the Martys who else do you have

there's only one motherfucker there's only one and I'll shoo all of you I'll shoo all of you just kidding I love you freaks Ben deserved to get shooed he was sitting there

shooable I think the Mets are the strongest but I stand with the Bens, the Neils, and the Jacks you have Corallo Matt Alborg most of the Nims are Mets you just don't know because they're Nims

yeah you do need to get down to Austin guys, come to Austin, the Commons is here you're definitely going to come check it out the vibes are going to be high we're gonna be recording here there's like action going out in the windows behind me behind car's desk right now people are looking in they're like oh this is where tftc is recording i was like yeah we're here now we're at the bitcoin commons we're at austin the vibes are

gonna be high we're gonna have an we're gonna have a legit set here this is it's gonna be big parker was shitting on the set today it's it's they just got internet they just painted the walls they just i couldn't even come in here and do anything until this morning and you know a car yeah we had 30 minutes and we threw this car through the set together and we're making it happen it's going to put the the noise stuff on the no no this is uh it's the building this is this noise stuff going all the way up to the ceiling uh we're gonna we're gonna cover it with plywood and then put put more pretty stuff on top of that are you really going to cover that with plywood yes does it still does that still work then yes yeah it's all about the concrete

behind it it's not about bouncing isn't that why the foam is not absorbing no because if you do it'll still stuff the technical term yes yes it is the noise stuff if you want if the freaks want to buy some they should just google noise stuff duck duck go duck duck go have you been using uh your ios device your phone now duck duck go just stopped working for me i mean do i update my i only use i only use i only use that fucking iphone for sphinx chat because it's just still unreliable on android yeah the uh yeah it's not called foam duck duck go is just not working for me on my iPhone. Really?

Wait, what is it, an app? Yeah. But like, you know, it's a website too. You can just like open Safari and type in DuckDuckGo. I know, but I prefer the app. Did you try updating it?

I hit it. They're a pretty professional company. I mean, you should try updating it. This is what's happening to me. Just like trying to open it just closes right away. Go to the app store. I did.

I tried it. I tried it. Have you tried restarting the phone and turning it back on? No, this phone hasn't been turned off in like a few months. Restart the phone, turn it back on, and then you'll be able to use the app.

Let's see if this works. I have DuckDuckGo set as my default search engine on all my devices. I highly recommend it. I don't even know how to turn off these iPhones anymore. I'm holding down the button. You have to hold

the volume down and the power button, I think, at the same time or something. Yeah, boomer Uncle Marty here. uh i have to do tech support for all my family's iphones including marty's apparently i figured it out yeah my dad uh i worked like i spent 20 minutes the other day trying to get peacock tv on my dad's fire tv what's he watching um is he watching i have no idea i don't ask him i don't ask him those questions and then i checked the it had after 20 minutes i had him check the serial number and the fire tv of that serial number does not does not support like a peacock

anyway you had to buy a new one the uh yeah peacock my wife i was like no it didn't work um it's still not working no my wife honey if you're listening i'm still mad about the peacock like i'm done with the streaming services we don't watch that much tv she's like we're we're getting peacock to watch yellowstone i love yellowstone but like i'm not downloading another streaming and what we did it's just like another five dollars a month torrent that was yeah we're gonna have to teach you i just had a cough i had a lingering cough um the old stone's a great show uh we're out of topics but i do want to riff chairman powell it's so weird that he it's not weird and we discussed this with aj and drew yesterday and i think aj had a really

good point like jamie diamond's like yeah the fed's gonna raise rate eight times this year it's like what the fuck are you talking about dude speaking of their age you just peaked in um but how do people actually believe that shit i don't think they i don't think they do i think jamie's the way aj described yesterday jamie's definitely just talking his book because bank stocks typically do well in a rising rate environment so he's probably just like yeah i would love for it no but i'm saying like how do people believe jamie like obviously market participants believe it to a certain extent that's why we've seen asset prices take a dump including bitcoin but also stocks and other like like we've seen the dump happen as a response to

this what i believe is a bluff what i think you agree with is is mostly a bluff there might be some small increases but they can't really do it in any kind of substantial way but it's it's it blows my mind that like so many people fucking believe it a lot of the boomers i feel like believe it yeah yeah i mean do they believe it or they just pot like again like the cnbc crowd they're like posh or like oh like look at how markets are reacting again it's like all um wizard of oz uh don't look behind the curtain fugazi fugazi like they're everybody knows they can't raise rate again everybody and their mother including jamie diamond including jerome pal they know they can't do it they're just playing this song and dance to see

how like they're just waiting for markets to fall a certain percentage point and then it'll be an inter an intra-meeting emergency rate lowering that that happens and an announcement of more qa it's going to come at some point this year and then markets will rally and so like the markets are so fucking fake now it's like this weird like just think about that like everybody's trading the the equities and the equities markets based off the fed hiking or reducing rates nobody's actually going in and looking at p multiples or balance sheets and cash flow and all that shit they're just literally looking at what the fed's doing like all right you're going this direction short it you know in the other direction long it like none none of the fundamentals matter

it's a completely clown world market we got and let's not forget that they have circuit breakers freeze the markets if they go down substantially in one day it's called the plunge protection team there's a literal i think that the treasury uh it's it's under the treasury i believe i don't that's not a meme that's an actual team i'm pretty sure yes yeah i thought that was i'm i don't know i thought that was a meme like they definitely have a team that is that but i didn't think they went by plunge protection team i think so okay um yeah it's so clown world epic clown world like the markets don't and this is like i was discussing this last night too like going back to my experience uh at the fund i worked at out of college like i remember we were

fund of funds and so i was an analyst and so we indexed other head fund commodity trading advisors and i had access to some of what are considered the most prolific traders commodity trading advising commodity trading advisor traders ctas that usually use trend following and trade commodities um and access like some of the the greatest traders that came out of what's called the turtle program in the 80s uh and i'd ask them like when i was 22 23 like do you think fed policy is affecting equities prices at all i mean they played dumb i'm like no no no it's like stop people like it's it's so people know it does right at least like like i think i think i think it's it's mostly it's mostly accepted that that fed policy has a

distinct uh effect impact on on global markets yeah just think about it's just people take the feds you know projected policy has as gospel when it's you know bullshit shout out to kita for forgetting us so the plunge protection team uh is can you go back to the last comment i can't read the uh yeah i say that's exactly what they would call it plunge protection team's colloquial name given to the working group on financial markets is that's that's a classic bureaucratic name the working group on financial market created in 1988 bullshit to provide financial and economic recommendations to the u.s president so yeah i do think this falls under the uh the treasury Well, if Parker ever becomes mayor,

I hope that he, I mean, I guess, if he ever runs for federal office, I hope he passes a bill to rename them to the Plunge Protection Team. Yeah. So members include the chair of the Board of Governors of the Federal Reserve, the chair of the Securities and Exchange Commission,

and the chair of the Commodities Futures Trading Commission. Commission. Yeah. yeah yeah yeah just think about how insane it is freaks like global markets equities markets specifically supposed to be trading on the fundamental of the companies what product are you producing what service are you providing how profitable are you at taking the raw materials to make that product and then selling it to a customer base like how are you managing your profits? Are you being a good steward of your shareholders' money by reinvesting it in the

company or holding it in a cash balance sheet or investing it wisely? These are the things that should be driving equities markets. Instead, everybody has their eye on one man in the world, Jerome Powell, and what he's saying. It's so crazy that this is the state of the global economy, particularly more specifically the US economy but the US economy affects everything as we know it's even more fucked up for the other

people because at least we have a group of corrupt Americans doing it here they have a group of foreigners doing it in their economies because what the US does affects everybody

yeah and again another thing discussed last night I think that's what really orange peeled me early on back in those days was

when it came out and I've said this on this podcast before like there was a Fed meeting and the market just like

started skyrocketing after and I was like why why is this happening and the algo traders had created algorithms

that were trading off the color of Janet Yellen's jacket she was wearing purple that day that was a regal color strength that show his strength.

And so the algos took the color of her jacket and just started pumping markets like just off what the fuck that old woman wore on that one day. This is the state

of our global economy. Currency markets, commodities markets, equities markets. It's all manipulated by the central... Like just think about how much control

these people have. It's insane. Fix the money, fix the world, buy Bitcoin. Stay on the stack sets. Peace and love. Okay.