TFTC: A Bitcoin Podcast - Rabbit Hole Recap #184: The IRS wants your face and the Treasury hates you

Episode Date: January 27, 2022

This week Marty and Matt discuss: - new bill would allow US Treasury to prohibit any transaction without public notice or input - robinhood starts rollout of bitcoin withdrawals - coldcard MK4 presales open - bitcoin mining difficulty hits new all time high - Phoenix v1.4.20 - Bisq v1.8.2 - Zap v0.7.6-beta - Joininbox v0.6.6 - BTCPay Server v1.4.0 - nix-bitcoin v0.0.63 - Sphinx Relay v2.2.5 - Lightning Terminal v0.6.2-alpha - satoshi energy raises 60 bitcoin with focus on bitcoin mining infrastructure - IRS begins requiring selfies for some services using third party company - puerto rico tax breaks for outsiders stirs outrage - free four day passes to Bitcoin 2022 for contributors of 30 open source projects 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. High quality rip. Are we free? Probably not. And while you think of that, it was brought to you by good friends at the motherfucking The freaks are liking it already. If you watch the live stream, you'll like it. Cash app can help you stack

sats on sats, receive sats, and sell sats. If you so please, cash app makes it easy to do all this. Sats are the standard within the app. We're not talking bits. We're not talking whole bitcoins. We're talking sats. You bits, bitches, get out of here, okay? Cash app, Sats is the standard. Download the app if you haven't already.

Use the code stacking, Sats is S-T-A-C-K-I-N-G-S-A-T-S. You're going to get $10. And $10 is going to go to our good friends at Owls Lacrosse. This trip is also brought to you by our good friends at Unchained Capital. Right down the hall. I don't know how many, am I going to say this like every Unchained ad now? They're literally right down the hall. I see Unchained people all day.

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if you remove the sd card and therefore won't break the warranty very important for you miners out there all you people who aren't miners like what the hell like get into mining and figure it out if you want to get unique insights on the bitcoin mining industry along with updates on brains os plus stratum v2 and other brains projects check out the brains blog at brains.com slash blog and follow the lesser known at brains underscore systems twitter account where the team is posting deep dive trends on various mining topics this rip was also brought to you by good friends at hodl hodl hodl hodl is here to bring you a non-custodial lending platform it's a so if you have bitcoin you need liquidity and you're comfortable with stablecoin liquidity what you do

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Logic. Steve Aoki's going to be there. If you like cake thrown in your face, I don't know why you would, but some of you do, you weirdos. Steve Aoki's going to be there, and he's famous for throwing cake at people. CL, I don't even know who they are. Run the Jewels, San Holo, Dead

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this rip. It was a good one. I gotta go. I love all y'all. Thank you. you've had a dynamic where money's become freer than free when you talk about a fed just gone nuts all all the central banks going nuts so it's all acting like safe haven i believe that in a world where central bankers are tripping over themselves to devalue their currency bitcoin wins in the world of fiat currencies bitcoin is the victor i mean that's part of the bull case for bitcoin if you're not paying attention you probably should be probably should be that you know the uh the best way to decorate your laptop it's not stickers

it's uh your son's uh pencil drawings on the back of your laptop this is what this is my decoration this week my son got a hold of the pencil can you hold it closer to the camera it's beautiful what an artist when nft oh that's a good question somebody screenshot that uh nft it uh yeah this is no stickers just have your son get a pen he he actually wrote on the inside of my laptop too so there's pencil between the keyboard it won't come off it won't come on so well when he gets a little bit older he's gonna switch to sharpie ah well you got we got on the the ultra washable markers that's been our morning activity this week is is markers on a on a wide open canvas it's fun you can't draw for shit though it looks terrible

but we tell them it looks good we tell them it looks good it makes them happy sub freaks is right welcome back to rabbit hole recap what a week we're here a little early today i've got to head to houston uh for the bitcoin meetup in houston and that is a three-hour drive from austin where I'm sitting now in the new Bitcoin Commons studio. Matt. Is Car going with you? I don't believe so, Car. You're not going to Houston tonight?

I've got a lot of Pleb Lab stuff. Yeah, Car. Car's got Pleb Lab stuff. Yeah, we could hear him. I thought I said Car. I almost said Carb. I was combining Car and Pleb. Yeah, so I'll be making that round trip.

We're here in the Bitcoin Commons. The energy is high here. We've got these nice chairs. What do you think of the chairs? I dig the chairs I have similar chairs in front of my fireplace yeah well you need to get that we're classing it up

no more like computer chairs let's get the leather chairs this chair is so comfortable maybe we should be recording in front of your fireplace as well it's not really like a good I've thought about it I've considered it freaks I will continue to consider it

I have a studio here too get the bits over sats off the screen car I don't want to see that shit I'm going to start I'm going to start there's like real shit going on and people are just having a stupid argument about bits it's just not even going to

use what you want to use people can use what they want to use this is it's just a waste of time it is you have free will I'm guilty for appeasing the stupid card no more the Sats or bits stuff

there is serious stuff to talk about a lot going on we're currently sitting at $36,085 according to KlaxDarshboard dashboard I can't speak today as usual one CuckBuck's going to get you 2,771 sats

the current market cap of Bitcoin is 683.5 billion CuckBucks we are currently at block height 720,632 difficulty adjustment happened between last week and this week we had an upward difficulty adjustment of 9.3% which took us

to a new difficulty all time high of 26.6 trillion you know Twitch has bits integrated why I thought we weren't talking about this I thought we weren't talking about it you're going to interrupt me while I'm going

through the dashboard talking about the all time high difficulty they have an integrated an integrated token called Bits on Twitch. It's like their Fortnite V-Bucks. Yeah, so anybody pushing Bits is a shit-coiner.

The dumbest argument to me is the you know, sats aren't they're too small of a denomination. Like that is just you're just being way too bearish if that's your concern.

just like lower your time preference a little bit please please very very high time preference that's anything that's at sorry for interrupting you i was just reading the chat and there's a lot of bits look at you look at you reading the chat all these bits are shit coiners funny funnily enough uh before you interrupted me we were 1096 blocks away from the next difficulty retarget but now we're only 1095 blocks away there was a block mind between uh the first time i started reading this and the second time uh new difficulty all-time high new difficulty all-time high we're estimated to have the next retarget on february 3rd the day after groundhog's day which has no significance is probably one of the worst holidays if you even consider the holiday

is groundhog's day always february 2nd yes yes is it yeah yeah or is it like the first tuesday of february or something yeah um stop bringing car i gotta stop bringing up the comments in the middle because like i can't answer these questions right now how do you know how do you know how do you know groundhog's day when groundhog's day was i don't like i don't know it's a i'm from pennsylvania and it's a big it's a big it's a big holiday in pennsylvania yeah punxsutawney phil that's where it happens in pennsylvania maybe that's why i never knew i thought everybody was just uh very aware of groundhog's day um you just like you said it so confidently yeah he's like no it's

february 2nd every year the bent family's super excited for groundhog's day 2022 we hate it uh but if you do go to penn state it's actually like when you're a junior senior apparently it's a fun My wife didn't want to know. A couple of my cousins made it. You do. You drive overnight from college town or wherever Penn State is too

where Punxsutawney Phil lives. Really unique name they came up with. That's actually the name of the town. I forget what it is. You think they workshopped that or that was just the first one they came up with? Probably. But enough about this stupid groundhog. He'll come

out you probably won't see a shadow we'll have six more weeks of winter and then we'll have a difficulty retarget the next day uh if everything remains somewhat static between now and then and as of right now that difficulty retarget is estimated to be at negative three and a half percent downward adjustment and that is because blocks are coming in at 10 minutes and 22 seconds on average since the last retarget which was less than a thousand blocks ago 989 blocks ago you think uh there's like an alternate history where bitcoin's difficulty adjustment was based on whether or not a groundhog saw its shadow uh i hope so i think that would be a funny alternate reality my wife's texting me she went to penn state it's state college she's very angry at

me right now wait wait the town name is state college yes yes that's even worse like it's like the state college isn't that penn state pennsylvania state university state college but like when you're writing out the address you're like if you're just like dorm or something you like put the dormitory penn state comma state college pennsylvania zip code what the fuck yeah hey pennsylvania the the the dutch are very very simple people you know dutch quakers just like all right what are we doing here shout out to william penn pennsylvania pens woods we're learning every something new every week on rabbit hole recap like when groundhog day is samurai whirlpool has 4 412.59 bitcoins in unspent capacity that is 159.7 billion

cuck bucks worth of liquidity or unspent yeah everyone focused on bits versus sets when the real argument should be bitcoins versus bitcoin yeah for we're fighting the real fight here on rhr and i have been embroiled in a battle for quite some time but as we mentioned there's some pretty heavy objectively wrong there's some pretty heavy shit going on right now this uh again another uh the way coin center describes it ostensibly uh a a must-pass bill in the america competes act of 2022 honestly who could be against a bill named america competes america competes are you anti-competition marty are you anti-america i just don't think america should be competing this is why i'm against this bill we should not be competing we should be sitting

on the sidelines watching everybody else in the competition let's just cheer everybody on while they compete these bills just get worse and worse do you not want to build back better are you not for the build back better act yeah how could you be against that who doesn't want to build back better i didn't even know we had to build back i thought we we had everything built why do we need to build back i base all of my legislation legislative support on the naming schemes of the bills yes the care that's why i love the patriot act it was yeah that's really great for our country it's patriotic we i mean we just just patriotic if you love having your civil liberties ripped from under you and being thrust into a dragnet surveil for surveillance

system yeah it's patriotic as hell it's the patriot act what about the cares act they care about you and get you health care it's going to be affordable but if you decide not to pay for it they're going to fine you 24 they care about you it's the cares act now we're here america needs to compete and apparently on page 1482 of this bill so this bill is at least uh almost 1500 pages long probably significantly longer as you can see there are 2912 yeah i doubt it was on the last page yeah two 2912 pages of a bill uh in on page oh so that's perfect it's like right in the center yes one page 1482 is car scrolling to the page just right now just go to see where the numbers are going 48 just go click no no manually scroll manually scroll there we go no no don't do that

don't do that it's distracted car it's distracting um the it's like seriously um by the time you wouldn't you wouldn't get to the page until the end of the episode well they had the page in the coin center okay you don't even need to go in here um the the obviously the bill has something snuck in it that is going to affect bitcoin exchanges or anybody associated with any transaction period yeah so basically the if this bill gets passed in its current form uh this section here would allow the treasury to basically highlight anything they want and deem it as something that they don't want to happen so they can freeze your account essentially and say hey no you're not allowed to transact but they can do bigger than freeze an account right like they can

just stop a regulated business from doing those transactions period across the board yes and the key thing is is there's no oversight no notice no public input none so they can just do it at will any type of transaction so it could be if the u.s treasury after this bill wants to stop you know marty from trading seashells on the street corner uh they'd be legally able to do that as well yes it's pretty because that's what marty does right before groundhog's day he likes to trade seashells i i sell seashell seashells by the seashore by the street corner the so this as it pertains to bitcoin the way coin center described it like if the treasury for any reason deems that a mining pool oh the czech republic let's just say a mining pool by the name of slush disclaimer

brain sponsors the podcast if they were to mine a block that included transactions that the treasury deemed uh deemed to be like money laundering then any anything associated with that block which would be the rest of the network anyway trying to send transactions that build on that block would have to shut down their services so this is a pretty invasive clause that would basically make it impossible to transact on centralized exchanges what do we learn from this what are we what's the lesson we're taking from here get your coins off exchanges get your bitcoin off exchanges uh number one and then number two what were you going to say man i mean i don't think it's exchange specific no like so like luxor and uh mara pool like all these obviously i mean the

mining angle is is obviously at risk as well but also i i imagine you know if you're running a uh fold a non-custodial wallet or something and and it's using a centralized server then then potentially even if it's not custodial right like something like um blue wallet or moon or something i think they can it's it's very vague um broad language they can just prohibit transactions yes and maybe something like unchained collaborative custody model they can go after that right they deem yeah exactly which is not custodial but presumably if they wanted to and like of course the argument is they're not going to is what they say right but just the fact that they have this power or they will have this power um

is is is is not good for our country is not good for americans um unfortunately i would say that it's it does seem so inevitable doesn't it marty yeah it's like if they don't get this one pass and there'll be another one it's just like constant um Yes. And I mean, this goes in line with something I've been talking about all week in regards to the Financial Action Task Force. And I don't know if you saw, Coindesk reached out to me, I can say who it was now because they wrote the article, asking me to comment on the efforts by the industry to comply with the Financial Action Task Force's travel rule. in my comment back i said so ostensibly i believe this care compete act clause is an attempt to prevent money laundering or financial crimes and similarly with the financial action task force and their guidelines that just so happen to get implemented as regulations across the world with little pushback they they really don't do anything to actually prevent financial crimes like money

laundering from happening they they just like we've said many many many many many times on this podcast they just put innocent law-abiding citizens at risk uh and increase the burden for companies to to comply they increase cost and administrative work necessary to comply and it reduces competition right because small startups can't afford it but the coin bases of the world with massive legal teams it's not a big cost for them no it creates huge compliance moats for these companies that are that are already massive and able to comply did coin did coindesk actually give put a quote in the they did like what quote did they use of yours in there i got demonic in the coinbase coindesk excuse me you use the demonic quote yeah they did

they did wow um shout out shout out to mark hockenstein and uh the author of uh that particular article who is not my dms he emailed me let me get the name the name right uh brett stapper or not brett stapper fuck you uh that is somebody some shit pointer reaching out to get their CEO on the podcast. Oh, poor Brett. Fuck you, Brett. Rob. His name is Rob. Rob Garver. Rob Garver wrote the article.

But again, as you can see from last night's bent, these financial regulations that are claiming to prevent money laundering don't do it. They just make us all less safe by forcing these companies to collect our personal identifying

information and secure it insecure databases typically. And it really doesn't do anything to stop them anti-money laundering. They really want to do that. Jeffrey Epstein wouldn't be able to have had a bank account at Deutsche Bank where he laundered hundreds of thousands of dollars after getting released from prison for sexually abusing minors. The criminals get away with it because the banks are filled with criminals themselves who allow individuals to skate the regulations. We saw this Again, with Deutsche Bank and Jeffrey Epstein, we've seen it with HSBC and the Mexican drug cartels. It's compliance for you, but not for me at that level.

And as it pertains to companies in the space trying to comply with the travel rule or what's going on now with the COMPETES Act and how that will affect the industry, it's time for civil and corporate disobedience. It's time to stand up, strong men and women, to say this is bullshit. This doesn't make anybody safer. It's going to prevent innovation. It's going to prevent people from actually doing innovative things and moving humanity forward into the digital age. It's only going to protect massive incumbents

who are providing shitty services and allowing terrible things to happen in the background. We need to make civil disobedience a thing again. at the civil level, at the individual level, and at the corporate level. We need people in the industry, I've said this a few times on this podcast, but I will reiterate it again now,

to begin standing up and saying, fuck you. I'm not, like, take it to the point where you get your bank account shut down. Like, we need the Canadian trucker, the convoy in Canada being applied to the financial regulations that are coming out. They're up there protesting the mandates, the vaccine mandates, and they're doing an incredible job.

we need to take our financial privacy and freedom seriously not only here in the united states but across the world begin protesting this stuff with civil disobedience and the most effective way to do that is take control of your your bitcoin controlling the wallet that you control you have the private public key pair and then send peer-to-peer transactions and tell them to fuck off like this is where we need to go you need to normalize holding your own keys and sending transactions in a peer-to-peer fashion, which is going to take some work. You're going to have to learn how to do it. You're going to have to learn how to

spin up a full node if you want to do it completely right. But the first step you can take is taking control of your Bitcoin in a wallet that you control that cannot be sent through by a third party like a centralized exchange. And if that sounds too difficult, you can always just shitpost about Sats

vs. Bits on Twitter. Yes. I would just add obviously everyone should hold their own keys. Now, I would add that you mentioned some good examples of where the banks are complicit in basic in facilitating money laundering. But there's also a key aspect here. Because I think a lot of people would argue, there's a lot of people that are on the pro compliance side that would argue, well, that means we just need stricter compliance measures.

And the reality is there's a lot of situations where criminals are able to get around KYC AML laws because they're using hacked or purchased KYC information from otherwise law-abiding users. So they get around it. The criminals aren't actually complying with the KYC information. So it really only hurts law-abiding, honest users. Yes. it's completely i mean it's been proven time and time again that these invasive kyc aml regulations don't work they make us individuals less safe the criminals keep committing financial crimes they keep figuring out ways to do it a dedicated and motivated criminal it's going to figure out

a way to to follow through with the crime that they want to do and then on top of this so this all stems from the bank secrecy act and so this is the the provision that is getting snuck into this america competes act of 2022 we're going to compete we're going to compete what they leverage is a specific clause in the bank secrecy act they're using a loose reading of the language included in the bank secrecy act to enable this type of overarching encroachment on civil liberties uh that's another good name yeah the bank secrecy act which is like the exact opposite of things exactly um one interesting aspect of the bank secrecy act which i we've touched on before on this show i've touched on dispatch a bunch is the bank secrecy act basically it has a carve out of

the fourth amendment which is uh that americans unreasonable search and seizure you're you're protected constitutionally from unreasonable search and seizure without that's why warrants exist uh in the bank secrecy act there's a carve out that basically says if you provide this information to a third party uh you're not you're not under the expectation of having privacy in that situation so it it's a carve out so the uh the fourth amendment doesn't protect you so this is one of the reasons why i i think there's a very strong argument that if you're You're using your own node and holding your own keys, and then using your own node part is key because all of a sudden, you're not trusting a third party with your transaction

information. But if you are using someone else's node, if you're using Blue Wallet or Moon and you're not using with your own node, even though you're not giving them custody of your funds, you're pinging their server to look up your transactions and your balances. I feel like that carve-out could still apply in that situation but doesn't apply if you're actually using your own node now i'm not a constitutional lawyer i have no intention of fighting this in the courts uh but i do think that's an interesting at least for american bitcoiners that's an interesting aspect that i think should be explored more that's a very good

point you run your own full node figure out how to do it's pretty easy yeah there's plenty easier than ever easier than ever there's plenty of wallets out there that make it easy to connect to your full node sparrow specter there's a bunch of shit out there that make it very easy Bitcoin Core. You can use their wallet if you want to. Zeus. Buy the lightning on top of that.

The tools are there. They're getting better. Use them, but we should also highlight that we need to abolish the Bank Secrecy Act. We need to abolish the Financial Action Task Force. We need to hold the people

in Washington at the Treasury accountable. These people are fucking evil number one and number two again we don't live in a free country they're trying to be extremely invasive and they should come out with a new bill do we even live in a free country anymore yes bill prop uh a prop vote do we live in a free country yes or no uh before that 4 000 page bill but like i mean the bank secrecy act it was again around 1971 i think it might have in 1971 what the fuck happened in 1971 into law like this is a part of going off the gold standard or lumped in with that era of completely fucking up our monetary and financial system it has become

a dragnet surveillance system again that does not help anybody it does not prevent financial crime it actually harms individuals more than it helps them we need to drive this home we need to stop letting these kleptocrats in Washington keep clawing and clawing and clawing our civil liberties. And again, they do it with these cutely named bills. The Patriot Act. You're patriotic,

right? Let us just peep your metadata. Once again, if this just sounds too overwhelming to you, you can just bend over and comply. Yeah, bend over. We'll actually send out free lube. Okay? That's one thing we'll do to help you facilitate. New merch drop.

New merch drop. tftc lube line for those who want to get pegged by the u.s government stand up and fight it's time like not not physically but obviously not physically and we're peaceful podcast here but stand up and say this is bullshit like that's the other thing like these people are supposed to work for us we're the taxpayers we pay their salaries they are supposed to have our best interests in mind they don't though they've been completely co-opted by a a banking and technocratic system that does not care about you. It cares about control. Financial Action Task Force does not care about protecting you from financial crimes. They want to make your life harder

so that they can control you so that the elites can get their way. The Davos class can do whatever they want. They don't want competition. They don't like you useless. What's the term that I believe it was George Soros calls the plebs, I think he calls them useless eaters, is how these people think of you. They think you are useless eaters that are just taking up space in the world

that they want to control. They do not care about you. They do not give a fuck about you. And they're making your life considerably worse off. Suicides are at all-time highs. Overdoses are at all-time highs. People are as unhealthy

as they've ever been in human history. Difficulty adjustment. Difficulty adjustment is happening. The difficulty is out of my mind. Difficulty target. Again, this is all a product of these overarching policies that have been enacted over the last century, you could argue, but more specifically the last five decades since the 70s.

They've only made humanity more depressed, less wealthy on an individual basis. There's more wealth overall, but it's being concentrated into the Davos class because they control the rules and they leverage the Kantian effect and you're losing your rights by the day and this America Competes Act is just trying to take more and more of that

you do not live in a free country I hope the next bill is called We Care About You yeah well they already had the CARES Act I know but I like We Care About You Bill better hey we care about you but seriously take control of your bitcoin run your own full node

i really like that point use your own node use your own node like and have it maybe that is the the like constitutional like silver yeah like you can't do a shit like i'm not using first and fourth and like tangentially second yeah the right to bear the right to bear nodes it's your right software bitcoin is speech at the end of the day it is just code numbers if So if you're just tuning in to Rabbit Hole Recap now, just a quick TLDR, Groundhog Day is on February 2nd. Yes, prepare yourselves. Punxsutawney Phil is going to be surrounded by a bunch of people

who have come into town from State College, Pennsylvania and are trying to see whether or not he's going to see his shadow. It's the weirdest tradition of all time. All right, next topic. Robinhood is starting the rollout of Bitcoin withdrawals. I never thought I'd see it today. yeah i'm very um i gotta give credit where credit's due i did not think this was going to actually happen i thought they were just virtue signaling props for props or do we have

confirmation that anybody has actually sent sats off of robin hood and into a a personal wallet that would require someone admitting to me that they're actually using robin hood to buy bitcoin which they shouldn't do no you should not i mean robin hood we very famously last year with the whole wall street bet saga with gamestop amc and other stocks that uh the wall street bets reddit group was trying to short squeeze i mean robin hood shut that down pretty pretty aggressively so an example of centralized third party and not allowing you to do what you want to do and robin i wouldn't trust them after no definitely i mean robin could go fuck themselves but uh the The point remains that they are one of the most popular places to buy Bitcoin.

And it's really good to see that they're actually allowing you to take possession of your Bitcoin instead of keeping it as an IOU on their platform. So, yes, I'm very, very happy to see it. And yeah, I did not expect it. I really did not expect it to happen. Neither did I. If you are an individual using Robinhood and you successfully take sats off of Robinhood into your own possession please let us know i would like to see an example in the wild some

confirmation there that that is actually happening yeah and if you listen to this show on your alexa also let us know in either situation you're dead to us do you have that on the list i don't think you have that on the list that was crazy i mean the girl downloading her oh no i don't have that on the list alexa i just know that we're both this show and dispatch are available on alexa and i And I wonder what kind of masochist listens to us talk about the privacy issues on their own wiretap. But there's got to be a dozen of them. At least, maybe dozens. I'm getting texts right now that Robinhood is also joining the Coinbase-led travel rule planning group.

Don't forget about that. Coinbase is leading a travel rule planning group. You know what we don't have on the list? uh trezor implementing the swiss travel rule integration yeah what's going on there i saw adam aka denver bitcoin tweeting about this i did not that's all i saw was that one screen chart i took i couldn't really flesh out what was going on the swiss government went above and beyond on travel on fatfas travel rule proposal so like fatfas unelected bureaucrats um they provide proposals out to the world and all their member countries which is like pretty much

uh you know the overwhelming majority of the world and then those member currency countries go and implement their quote-unquote suggestions they're not really suggestions but that's how they frame it um in switzerland they went above and beyond on the travel rule um and they're requiring all bitcoin services to have you sign a message with your receive address when you withdraw from them so if you're withdrawing to your bitcoin address bitcoin has there's this way to cryptographically verify that it is your address and you have control. You can sign a message with it, so you can put any text you want in that message. Usually what happens in this type of verification process is they say, put ID number 4732 or

whatever, like a generated number or something like that, a unique piece of information from the exchange you go and you sign the message with your address you with that exact unique identifier so they know it's it and that way they can know it's you um or i guess presumably it could be a friend or something but um they they know that you're actively in control of that address uh now trezor i guess i i don't have a trezor but it's it seems they made that signing process easier lie um talked about your treasure a couple weeks ago i mean like i don't actively use a treasure i have like i have like six that that treasure i talked about was the one that's still in the box that i travel with um i so like i have not used treasure software in because it's

built into treasures like web wallet not web wallet whatever they i think they have desktop they have a treasure suite is what they call it yeah so i think in there now there's like probably a button that says you know comply with this bullshit regulation do you have to hit it do they prevent you from signing transactions well like you can't withdraw from a swiss service unless you sign an address okay so i don't really know if it's kind of questionable that they're implementing a they're using a third-party company to do it yeah it's called 21 satoshi or something like that or 21 analytics which is like it's a it's a surveillance company right so they're they're integrating with a third-party company but i don't know if there's a lot of complaints

that people can throw at treasurer i don't know if this is one of them like i like the swiss brokerages are requiring it so if you're a user of one of those services you're good you're either don't use the service or you're going to have to sign a message anyway um yeah so adam aka at denver bitcoin on twitter if you're not following go follow him great uh great mining following overall follow at 21 analytics is the company helping them uh and he believes it's a chinese company from what he can tell so there you go even worse um yeah i don't know like this is a problem with kyc and using kyc services uh it's a problem with regulators regulating those kyc services uh i don't know if necessarily i mean i guess i don't really think hardware wallet

should necessarily make it easier but i also don't know if they shouldn't like i don't know like i'm not sure if that's the if treasurer's the team to blame on it yeah this is coming from someone who's like an outspoken you know threats of kyc person yeah i haven't thought about this particular topic long enough to make a an informed comment that can add value to you freaks i'll just say it's like yeah again it's all fucked up these regulations are stupid like they're not helping anybody it's time to get angry if you're not angry, get angry. They're trying to cattle herd you into a digital panopticon where they know everything you fucking do. They're trying to eliminate privacy from humanity. It's time to

tell them there is more of us than there are of them. It's a very, very, very, very, very, very, very small amount of people at high places in political offices that are making these decisions in unelected positions with the Financial Action Task Force. This is inhumane. It is inhumane that they are doing this to billions of individuals around the world. We should not put up with it.

We should call them out. Pull up the picture of Marcus Plyer, please, from last night. Look at this stock image-looking motherfucker. Do you think he actually cares about you? Do you think this guy cares about your safety? We're going to see him soon. We're going to pull him up here in seconds.

There he is. Look at this motherfucker. Look at him. Do you think he cares about you? do you think he's like actually like a a genuine human being that it's just a picture marty but look at him matt a picture says a thousand words have you ever heard that saying before look at this guy look at this you can attack it you can attack what he does but like he's dead inside no physiognomy is real physiognomy is real zoom out car zoom out not that not that

physiognomy is real look at this guy he's an evil lizard he's a demonic evil lizard okay really quality argument i guess that was my marty jones just to go back to the topic uh two things first of all if you like look at it from treasurer's point of view they're probably getting a ton of support emails um and requests from people that are using swiss exchanges that don't know how to sign a message um so i could see that being one of the reasons i want to integrate and the other thing is my understanding is uh the bitbox hardware wallet uh that shift crypto puts out already has similar integration i don't know if they're using this third party chinese service it seems like a third party chinese service is the worst aspect of this

and it seems unnecessary i don't know why they would use that when you can just natively sign messages but bitbox does have if i recall correctly bitbox has like a feature that complies with this travel rule in Switzerland. Swiss, man. They're supposed to be like And they're a Swiss company too, right? Shift Crypto? Isn't Swiss supposed to be like the

the creme de la creme of financial privacy? Yeah, they made all their money hiding the Nazis' money. Yeah, it's like, what the fuck? It's all fucked, dude. It's all fucked, freaks. Just trying to make you aware.

To educate you. So you can go out there, get angry, and hopefully call this stuff out. And you can civilly disobey by using Bitcoin the correct way. That's the beauty of it. That's the beauty of Bitcoin. This is the value prop that Bitcoin brings to the world. It is a peer-to-peer distributed cash system. They can't stop you from doing this.

If you use it in the correct way, if you acquire sats in a peer-to-peer fashion, and you hold your private key, and you check your transactions with the full node, there's literally nothing that they can do to stop you from signing and broadcasting a transaction. You do not have to listen to anything that the Swiss government wants you to do, that the Federal Reserve wants you to do, that the Treasury wants you to do, that the Chinese Communist Party wants you to do. If you use Bitcoin the right way, all of these suggestions and these rules and these laws and these compliance and regulations are useless. Marty makes a good point there, but 98% of Bitcoiners aren't using it that way. Well, when push comes to shove, you're going to wish you did. Start now. What is your saying, Matt?

It's better to be early? You're going to wish you did this now. Yeah. When push comes to shove, it's going to be too late. Exactly. That's not going to be good for you. You don't want to start trying to figure this shit out when you actually need to.

Yes. Start now. Start now. Maybe use start nine. That's a good note in the box there with other privacy-preserving tools as well. Disclaimer. 1031 is the best

the next list next topic on the list is a great way to take control of your of your Bitcoin is a cold card just announced the pre-sales on MK4s which is their next iteration of their hardware wallet

is this the one that's going to have NFC compatibility? It has NFC, it has USB-C which I'm very excited about so I can it's like one of the last devices that still uses micro usb for me bigger ram for multi-sig that's big yeah the nfc is cool because what that means is you can use it with like a mobile wallet like blue wallet um and to sign the transaction all you have to do is just tap it to the back of your

phone now some people might be concerned that nv uh nfc opens up and that was a combination nvk and nfc some people might be concerned that nfc opens up additional attack vectors you can actually physically disable the nfc by scratching off the ns nfc part um which is a cool uh cool aspect of it in my opinion very cool aspect i mean rodolfo and crew at coin kite so there's 50 off on this because it's a pre-sale with an undetermined date so you know cold card coin kite is a bootstrapped company they've never taken any outside investment hold up hold up 40 dollars off 40 dollars off it wasn't 50 percent off no that would be 75 dollars only four okay well 40 dollars off he's basically he's funding his first line run of them um through the pre-sales

so you don't really know when you're going to get them um but yeah this is promising i already think the cold card mk3 is the best hardware on the market this has some common sense upgrades and the nfc specifically i'm very excited about yes uh rodolfo good friend of the show making incredible products i will be buying this pre-sale coin kite has proven that they can deliver though rodolfo will be the first one to tell you that the supply chains are all fucked in the world but i think yeah we don't know when they're shipping yeah but to answer tyler's question in the chat they're very proactive at coin kite of front running supply chain issues uh we wanted to mention this last week but didn't uh staying with coin kite car if you go back to that page

you go to the bottom the sats card was announced this looks pretty cool two products there's two separate cards there's a sats card and there's the tap signer how would you describe these products to the freaks so the sats card is is the idea is to use it similar to an open dime it has a bit different trust properties trust trade-offs than the open dime but it's cheaper um and has NFC. So once again, you can tap it onto a phone to redeem. The TapSigner, so that's like an open dime. So that's more for in-person transactions. You literally take your Sats card and you pass it off to the other person. You load it up with a million Sats and you pass it off to the other person when you're buying seashells from them. The TapSigner is a very cheap NFC-based reusable

hardware wallet that can be used in a multi-sig or a single-sig so you can imagine a situation where like you have a cold card a tap signer and a seed signer and you're using it with blue wallet on your phone and so you use this the seed signer you you scan you scan the qr code you you construct the psbt you sign it with that one signature and then you can either tap your tap signer onto the back of your phone to add the second signature or you can tap your cold card on so it adds a very cheap uh signing device that has nfc support neither of those have shipping dates yet uh i do have some questions of how exactly it's everything's being implemented and the different trade-offs there so um i already talked to nvk like i will be getting one of the first batches of it and

we'll talk about it more when i actually i don't actually have it in hand because i don't i don't really like i don't i i can't it's hard to comprehend what the what the trade-off model is without actually having it in hand um but i'm very excited about it it's pretty cool what was the question but car is asking if you just tap and reload sets no no so so the tapping is for the communication with the phone right so this is very similar to what uh but the tap signer it's very similar to what block formerly square is working on with their open source hardware wallet which is the idea of a very cheap hardware wallet without a screen that uses nfc because you can just tap it onto a back of a mobile phone or i think iphone

you have to tap it to the top wherever the end wherever you pay with apple pay um and so the major trade-off the most obvious trade-off is you don't have a screen on it and because you don't a screen on it that means you're trusting what you see on the mobile phone um or computer what the address is being shown and what the information is being shown you can't verify it on the device one key aspect of the cold cards of the seed signers of the treasures the ledgers is that you can verify on the actual dedicated device that all the all the information adds up the the result though by taking this different trade-off balance is you get a way way cheaper lightweight device that doesn't need a battery because um it's nfc so the but what makes this

really interesting to me is so it can be used as like a cheap single sig or or even a multi-sig where your phone holds one key and and that holds the second so it's just a a bump up in the security model of using a mobile phone which is what most people are probably going to do anyways just use a mobile wallet like blue wallet or moon or something but also it is really fucking cool to me that you can use it in a multi-sig situation so you can make it just one key if you make it like one key of a three or five the fact that you can't necessarily verify it on a device itself uh because it doesn't have a screen doesn't it that doesn't matter as much because you can verify it on the other two devices that signed right yeah this is really cool this

would be extremely cool if it actually works yeah i'm looking forward to getting getting them in my hands thanks for thanks for offering to get one of my hands rodolfo here's here's some product placement for you it's your block clock mini rip that off next week just remove the block clock it's not getting it's not coming back up there um but but anyway it's going to be a while these are going to take it seems like these are going to take longer to ship as well like there's no uh specific ship date um so we'll see we'll keep we'll keep you updated freaks we'll keep you updated uh and also the open dime isn't going anywhere the sats card is like a complementary product with different trade-offs in the open dime um but and it's cheaper uh but the open

dime will still be available which is uh fantastic because i love the open dime the open dime should never go away it's an incredible product it's aesthetically pleasing it's a cool hey let me teach you about bitcoin product and don't ever get rid of it matt is talking to somebody off screen he is muted we are going to go to the next topic which we've already mentioned bitcoin mining difficulty hits a new all-time high uh we can go to insights.brains.com to check out what's going on hash rate hit an all-time high earlier this week too according to insights.brains.com of 203 exahash a second. As you can see, the

light blue line, if you're watching the live stream or on any of the video platforms that this is being syndicated on, the light blue line is the difficulty. And as you can see there, it has reached an all-time high of $26,643,185,256,535.

The price is falling, so this will be interesting to see. Obviously, difficulty going up price falling means that you have miners getting fucked yeah difficulty going up unless you're plugging in more miners as that's going up you're losing a percentage of the overall hash rate and therefore uh your your sat stream is is falling uh again if you're not plugging in keep your overall getting getting new firmware we're getting new firmware um as well uh i guess rob hamilton had a comment about the s19 brains update there there has been a new brains update a firmware update earlier this week that added some new uh s19 models to the list

if you listen to the ad before this you you probably uh heard what models they are i don't have them off the top of my head right away you need the sd card port right and like don't some of the s19s don't have an sd card port it's like what i saw from joe rogers on twitter we shall see like not obvious like he has he has multiple s19s and some of them don't have it and some of them do and it's not clear by the serial number or anything yeah if anybody at brains is listening to this and wants to clarify what's going on uh right now or after the show um would love to would love to get some clarification just don't join marty in the studio he might shoo you shoo shoo shoo i mean we're not bringing up shoo gate we're not i would never shoo the good

people at brains actually edward evenson is going to be he only leaves that for bent yes edward evenson's going to be in town in a couple months we're going to record um he's very he's very excited about the leather shares uh speaking of mining pools uh and content had an incredible episode with alex brammer from luxor yesterday we didn't i mean we touched on mining obviously and talked about it a lot, but I just think that conversation was extremely lively and interesting. It was one of the most interesting conversations

I've had in a while, particularly as it pertains to the geopolitical situation of the world at this current moment in the United States empire's attempt to nation-build across the world. It's a lot of nuance. And he was a West Point graduate

and an officer in the army and has a very interesting perspective on all that stuff and why he thinks Bitcoin is extremely hopeful as we get into the digital age. But back to difficulty adjustment, it's at an all-time high. Excuse me, the difficulty target is harder to mine.

A lot of miners out there plugging in machines still. Again, we touched over 200 exahash earlier this week, according to insights.brains.com. Again, hashrate estimates vary depending on the trailing time scale that you're looking at. 300 exahash

by end of year. Over under. Come on. It's definitely over to... I think over. I mean, if these XP's get delivered... I think over too. These XP's get delivered. Come on. I love the immediate instant react.

There's going to be a lot of power capacity coming on here in the United States specifically maybe even more specifically here in Texas that a lot of miners are waiting for and then once that happens I'm hearing that there's going to be an automatic

turning on of a bunch of miners so be aware of that you should see some pretty massive hash rate growth and therefore difficulty growth slush pool have you been following I mean they've been mining a lot of blocks this week their pool luck has been high yes it's true

um it's one thing i noticed this week slush bowl has been mining a shit ton of blocks if you go down on insights.brains.com you can get a look at the pool layout right now foundries and first and pools and second f2 pools and third pool in and fourth via bitcoin or via btc excuse me via btc i'll repronounce it fifths binance and six slush pool how big is ck pool the one that is doing the solo mining oh let's talk about that i can't believe you don't have that on the list i'm not sure how big that i just put it on the list i don't think um see since it's a solo mining pool i don't think they would be advertising it's still i mean there's a there's a there's a little bit of confusion here right because natively in the bitcoin protocol without a pool you can solo

mine but what ck pool is doing is it's just like a typical mining pool but instead of instead of So you're still relying on a third party centralized pool provider, but instead of doling out rewards based proportionally on how much work you did, they just give it to whichever one of their participants in their pool found the specific block. They get the full reward. Well, found the hash, right? That allows you to mine the block. Right. So what is, what is, go to ckpool.com car. What is the, they're definitely reporting their hash.

Or what is it? are you go to i hate this website but they have good uh btc.com you're you're confirming i do like btc btc.com well because they they do the real time they do the trusted hash rate measurement which is just what the pool reports keep going now ck pool there go up up up up up right there uh yeah don't scroll to like a b cash nonsense one cash no it's not in the top 15 at least because they've found they've now found

three blocks well so that's the thing especially when you consider the one miner was using these USB sticks that produce something

like 86 okay here it is I just I duck duck goaded duck duck goasted uh btc.com slash stat

slash pool slash solo ck uh where's their hash rate I don't know how to read this website share of blocks 0.02% that's a minuscule amount of hash rate

hash rate NA yeah so share of blocks is what you'll have to use but regardless of how much hash rate they have I don't really care about that what is the probability of three solo three solo miners mining block

especially that last one the last one is really interesting because the dude had 86 terahash like the block eruptors right like the USB miners and the fact that we had three in one week

Arbed Out had an interesting tweet about this cryptic tweet but a tweet nonetheless like one is one is like a lottery ticket two is a coincidence and three is something is going on like do you think something's going on with this do you think it was an anomaly

it feels like advertising for ck pool now that's why i wanted to know what their hash was um ck pool also has the non-solo pool um what is the hash rate of their non-solo pool i don't we're not going to find it it's not i'm about to find it oh wow that's like non-existent too it seems a little bit suspicious it seems like a way to attract miners or people to sign up for their pool I don't

yeah so here's the Arbed Out tweet he tweeted out an Ian Fleming quote once is happenstance twice is coincidence three times is enemy action obviously we respect Arbed Out here at TFTC he's a good friend of the show

and uh an incredibly bright mind in the space and so that's what i want to like what is what is into our christmas special with them or halloween halloween halloween groundhog's day no halloween like what is the probability that's like is something going on that's weird i don't know well the weirder thing is that they have such low hash like if they were exactly exactly 20 of the hash then it doesn't really matter which individual miner inside the pool found it uh right like probability wise yes so that's like the probability that much hash and they found three blocks well it's not even ck pool just like the again this this usb miner had something like 86 terahash in total not even how many usb miners you need to get that kind of

terahash i think he had eight or nine plugged in uh like are they new gen usb miners they're not like the old school they can't be the old school block eruptors or whatever they were selling in 2013 or 2012 or something they may be block eruptors dude let me look yeah and here's some of his mini farm it's all the blocked and it's cg cg minor is what he was using yeah the block eruptors wouldn't you would need like a thousand of them or something to get even close to like 86 terahash is like what's minor m30 s or something right when they have their naming scheme is horrible the m30s the m30s are plus or something now the s plus is like 105 terahash right and the smaller

one the the less less powerful one is the m30s or whatever 31 the m31 is like 75 to 85 terahash right which is equivalent right and it's not unheard of for for for one of those rigs to find a block the weird thing is that a pool with such little hash found three blocks in what like a week and a half yes thought 8s nines is an 86 is 86 terahash yeah so there's something up with the USB that could be bullshit too there's I don't think there's a way to verify that it was actually the USB miners that did it um like there's no way i'm pretty sure there's no way to cryptographically verify that so it could just as likely have been as neil says eight s9s um

but still the weird part to me is the mining pool having such a little hash uh not necessarily the individual solos because like for instance like how many how many blocks did slush find uh today in the last 24 hours looking at insights.brains.com nine blocks right so if slush changed their payout structure and they change it to a solo payout structure we would have had nine solo miners find blocks today yes um it's just a payout structure thing now the weird part is how little hash ck pool has very odd were they all the solo miner ck pool i thought the first one no so ck pool has two yeah yeah the the three people that found solo blocks were all through ck pool solo pool so ck pool has two pools they have a

traditional pool it pays out proportionally and then they have the solo pool that pays out uh only to the to the individual miner that have found the block yeah and um jeff swan guy swan's brother guy uh you're wrong on bits um sorry for doing that but uh jeff he tweeted out a question it's an important conversation he tweeted out earlier this week why would a solo miner mine to a pool uh if they're solo mining it doesn't make sense to me and my guess is that they would mine to a solo pool and pay the two percent fee that the fee make the pool makes you pay if you're join it because the pool would promise you that they will construct a

block that gets the most amount of fees as possible, which if you're solo mining and you're not used to catching blocks and constructing blocks and fine-tuning for getting the most fees as you possibly can, maybe a pool with

experience has a better opportunity of doing that. And the last solo mine block would prove that. They got 30 million 800,000 Satoshis in fees, which is pretty high on average. The amount of fees that even the biggest pools have been acquiring in their blocks is not

even 30 million Satoshis. It seems like CK is good. It's a convenience charge, right? It's easier to do. It's convenient. You just don't have to worry about it. I just point it directly at you know just pointed directly at a pool is a very easy process to do for miners yes yes a lot of mining talk i need it yeah see what neil said plus people don't know how to solo mine right neil neil how many claws deep are we this week or we claw free in january we claw free we're still in january

interesting thing when neil sent me a uh customized bottle of tequila what the fuck neil my chopped liver my chopped liver neil right the fucking answer is yes we don't live in we don't live in a free country you're chopped liver and the bends are right and neil's sober thank you he's just sending me liquor but he's sober you're driving stop commenting and driving please uh i love that neil sober driving laughy face send me a bottle of tequila six in congress in austin texas uh on the shout outs the solo mining thing interesting i would like to i would like arbed out to elaborate on his cryptic uh ian fleming quote there and what he thinks um

yeah maybe this it's like maybe it is ck pool advertising and they really have a bunch of hash rate and they're just right they have a bunch of hash and then they like that they that they own personally and they're yeah yeah and then they like reconstruct it to make it look like it was the solo miner yeah okay they get they get it in this but the but the thing is it's weird that btc.com says that ckpool doesn't have much hash well maybe they're like the unknown pool yeah they're unknown they're not reporting it yes which would also be a classic yeah okay so i love this shit i did too because the the key thing is a bitcoin protocol is not broken here right yeah they're playing by the bitcoin rules but i love when i love when people play games within the

rules yes and i was so i was worried our doubts cryptic tweet was like somebody fucked up shot 256 or something like that in some way but it seems like ck pools probably just has a bunch of shadow hash that they're not advertising publicly um to be clear neil is sober he's only sober right now he is drinking again okay it's good to know thank you for the update this is the important stuff this is why people tune in he's not drinking and driving he'll probably start drinking when he's done driving um and then stay out of the car oh we got we got to shut the door we got to shut the we got people coming through the bitcoin commons bitcoin commons is popping and we have the door open um so we're gonna close that right now

ck pool playing some games i i do like that as well too i was wary uh i was worried that uh somebody was gaming shot 256 which does not seem to be the case and now we're on the shout outs this is a very prestigious shout out i'm flattered that this gentleman is reaching out what's up fellas jerome powell here aka jeremy aka juicy j i need your help midterms are approaching and inflation is running hot as the texas sun the thing is i can't actually raise rates without crashing the economy and if i'm being honest i have a primal urge to like i've never before i don't know sometimes i get crazy thoughts like maybe the world reserve currency shouldn't be manipulated by a handful of unelected bureaucrats help me is there any way out of this conundrum

xoxo jeremy uh yeah jeremy jerome jeremy juicy jay you can just come out and say hey i'm part of the problem there's a solution to the problem from now on on the gcj gcj with that hot and i think that's disrespectful to the actual gcj who throws out some bangers um part of three six mafia you guys understand rap or know about rap um i was a big juicy j fan in high school and college i haven't listened to his stuff recently but jerome powell way out of this you could hold your hand up and say hey I'm part of the problem. This obviously doesn't work. I'm part of this game of hot potato between Fed shares. We all know that there's an inevitable conclusion to this monetary experiment,

which is a complete collapse of the monetary system and a contagion throughout the financial system. It's better to own up to it and admit that we keep digging a hole. We're just digging a hole deeper, deeper, deeper, more debt, more money, more inflation, more inequality in the wealth gap. There's a solution to this. We have a sound money now. If we get back to sound money, people can lower their time preference and accumulate capital and deploy capital in a much more efficient and responsible fashion due to the fact that opportunity costs will be returned to the market. And it's called Bitcoin. We can just transition to that. I recommend that every American stack sats. And what we're going to do, we're actually going to get the pension stacking

sats first, because that's where a lot of retirement savings is held. And that's where a lot of the stress that I, as Fed chairman, feel is if all these pensions that hold all these retirement accounts go bust because the dollar just incinerates. That's not a word. Disintegrates. incinerates that's going to be bad incinerates incinerates J-Pal does watch the show

JCJ JCJ up here Bitcoin's a solution Jerome I don't envy your position at all you seem very stressed out to say the least and it's hilarious

obviously I will talk shout out Don talking to Jerome Powell Don but markets crashing this week As before the FOMC meeting that was held, I believe yesterday and today, the meeting went on into today. The markets were crashing as they are expecting rate hikes to happen. They tried to have the meeting, but Jerome Powell saw his shadow and went back in the hole.

Yeah, he's back in the hole. But, I mean, markets are reacting negatively to the prospect of a rate hike that Jerome Powell is posturing is coming. banks like jp morgan are saying yes there's going to be multiple hikes they think like six to nine hikes which is fucking insane uh it's never gonna like it's i mean great mean potential though market very great mean potential markets are tanking because they're they're expecting rate hikes which would increase obviously rate hike is an interest rate hike which would increase the cost of debt which would make it more expensive to do things throughout the economy and so markets like we don't like that so we're going to crash and the way this works now that we live in

this clown world monetary financial system is the only way the markets can go back up is if Jerome Powell and the Fed posture not only posture but also follow through with printing more money and easing rates or keeping them at around zero where they where they exist now I don't think we're going to see a rate hike this year, the way market's reacting. I believe from when I read the analysis of the Fed and the FOMC meeting is they

weren't as hawkish, which means they weren't as ardent about raising rates. So it seems like they're already sort of backing away from rate rises. I think there's 0% chance in hell that they actually raise rates. Everybody's like they got to raise them to

decrease them again, but I just don't think. Well, they might raise them a little bit. but not substantially. They'd raise them like 25 bips if that. You had a tweet that said they're not going to raise it a single bip. Not a single bip.

That's probably wrong. I don't think they're going to raise rates, dude. I don't think they're even going to fuck with it. Tiny amount. A little bit. One bip would be like Alan Farrington hopped in that there. That would be a great troll, though. They were just like, alright, one bip. One basis point.

Just so gcj can prove you wrong yes i hope so if you're listening that would be a great troll then we know you're listening to the show gcj if you just do yeah they can't they can't substantially raise raise rates without crashing everything and that would fuck over rich people because poor people don't own assets um so when has the u.s government tried to fuck over rich people ever but hey the fed the federal reserve talk about another uh orwellian naming here the federal reserve is not part of the government has nothing to do with the federal government it is a private entity none of this matters because if you follow the shadow to flow model bitcoin will pump on

february 2nd the shadow to flow model stock to flow is getting getting its uh its face right now i'm very happy we never never never you can you can be happy check the tapes check the tapes we've never pumped stock to flow model i mean stock to flow as a concept is very interesting um i do agree it's the concept i don't think the model popularized by plan b is something that you should be following and expecting to happen play out in real life February 2nd baby Shout out to Flo let's go Everybody set your block clocks

Next shout out Sometimes I hate you freaks I farted and now my dick hurts from the fart Please get to the shout out I'm pretty sure My dick hurts from the fart Yes the fart was from my butt Is there some vegal nerve connect

This doesn't even make sense My penis and buttocks I would go to doc but not vaxxed Fuck my dick hurt from ask ass we'll film my butt farting when they release the pentagon 9-11 tapes they'll never release them aka never not gonna happen want to see butt farting sorry boys gotta be in real life tldr dick ass butt fart now penis hurts i don't know who wrote this or where your mind is you need help you need to seek help we appreciate your support freak thank

you we do thank you for the uh 131 563 sets over the lightning network oh wait no that was on chain so somebody could probably do on-chain analysis and find that transaction um don't dox our address please the onto the list get help seek help i'm just gonna freak you wrote that seek help that's I'll say, medical and mental, mental health. Stay classy. That's right, XFrog. Software updates, as always. These updates have been released in the last week, unless there's a critical vulnerability or bug patch in any of them. Probably don't need to rush to go update these, but you should be aware that these updates are available. Phoenix version 1.4.2.0

has been released. BISC version 1.8.2 has been released. ZAP version 0.6, excuse me, 0.7.6 beta has been released. Joinbox version 0.6.6 has been released. BTC Pay Server

version 1.4.0 has been released. I'll note on this, I updated this today, and it is a pretty massive UI overhaul. It was a bit jarring when I signed back into BTC Pay in a good way. The design is much

cleaner. What has changed? Just the UI. I don't know from the feature set. I guess I saw LNURL auth was added. They fixed some bugs too. Add LNURL

auth support as second factor authentication. That's pretty cool. I like that. 2FA with your lightning node. pretty cool uh but yeah the ui i assume that's for the back end right like when you're managing your btc pay store yeah exactly uh yeah and then the ui layout is completely different i was like what the hell is going on here i will say that it is a bit weird for the shout outs uh reading them the the format of the shout outs in the new interface yeah it's a bit clunky i gotta find

And it's, I'm just not used to it. I mean, I'm getting used to the new layout. I have developed tendencies for the shout outs over the last however many years that we've been doing them. Are we going to get, don't forget to do shout outs this episode. When are we going to do shout outs?

Thank you for the shout outs, Freaks. If you want to, thank you for the shout outs. If you're contributing via podcasting 2.0 app, Fountain app, disclaimer, personal investor. Matt's a big fan of them. tftc citadel dispatch one and two in terms of bitcoin podcast on the fountain app you guys are listening via the fountain app and contributing to the show thank you very much if you want to get rid of this appreciate you freaks we do we'd love to get rid of the six minutes worth of ads in the

beginning and if you listen via apps like fountain sphinx breeze uh and many other podcasting apps that are podcasting 2.0 enabled you can stream us stats as you listen we very much thank you and oscar from fountain if you're listening i will be uh transitioning the pod the tftc podcasting 2.0 wallet to fountain but this is an experimental be custodial for a little bit they're adding non-custodial support but this is so that we can read uh boostograms that are coming from listeners listening on the fountain app so you listen on the fountain app and you stream a sats and you want to boost us like you can on sphinx chat you can include a message similar to the shout out on that we're gonna have to figure out how to um separate shout

outs from the boostograms but we'll figure it out i think it's cool little feature um but again you can also like natively read it from lnd yeah command line dj hasn't written a scraper for that and i'm not going to do it myself so um dj if you're listening you want to build that scraper maybe we can do that uh yeah thank you guys for listening it's wait did you just tell oscar a fountain did you just like confirm with them through the pod was that yeah yeah we had a call earlier this week where you walked me through like the podcaster wallet in the app it's really cool they're innovating very quickly again disclaimer personally invested in fountain but mac can uh is not personally invested he can not invested in fountain i like it it's my favorite podcasting

2.0 interface alongside breeze wallet breeze with two e's and a z because we love naming schemes car's giving uh fountain the thumbs up as well car's friends with oscar shout out to oscar and team nick's bitcoin version 0.0.63 has been released sphinx relay version 2.2.5 has been released lightning terminal version 0.6.2 alpha has been released and that is it for the software updates this week. Again, if you're running any of these softwares,

it doesn't seem like there's any critical vulnerabilities that these updates are patching. I would go check out the release notes and ask yourself if you would like the features included in these releases

and download it if you want it. On to the end of the list here. Satoshi Energy raises 60 Bitcoin with a focus on Bitcoin mining infrastructure. disclaimer 1031 was included in this round but yeah these guys are helping

Bitcoin miners source energy they have a focus on what some would deem to be renewable energy so the seed funding is a significant milestone for our company as we build a market leading strategy for Bitcoin miners to procure low cost renewable power and transform

the future of energy finance Satoshi Energy said in a statement to Bitcoin Magazine this is in my opinion just another highlight that the energy sector and the bitcoin mining sector are beginning to merge they are converging they will be synonymous by the end of the decade if you run an energy company you will have bitcoin mining operations implemented at some point in your stack it is inevitable there's a lot of people in the oil and gas world who are getting annoyed about how much bitcoin talk is happening in the oil and gas world you're luddites it is

inevitable you are going to be bitcoin mining by the end of the decade and i would expect it to actually be sooner but as we know throughout leaps forward and innovations throughout history there are a lot of people who who just don't uh don't want to go on with with the new trends and so there will be holdouts but what do you think about this matt do bitcoin coolest part of this you haven't mentioned is that they get this raised denominated in Bitcoin. Yes.

Denominated in Bitcoin. They're on the Bitcoin stand. That's pretty fucking cool. I mean, we're trying to normalize it. I didn't want to point it out. I said they raised 60 Bitcoin. 60 Bitcoins. 60 Bitcoin.

You said it. 60 Bitcoins. We caught you. We just caught you. Check the tapes, freaks. What is that? uh six billion sets six billion sets yeah more no it's six billion six billion sets yeah yeah six billion sets

six billion sets how many bits i couldn't tell you i honestly somebody over the weekend i know we were like let's not talk about it's not important i thought it was like a hundred thousand sets in a bit they were like no it's a hundred i was like see exactly it's it's 60 million bits right there's a million bits in a in a bitcoin a million bits in a bitcoin yeah so it's 60 million 60 million bits and six billion sets yes and groundhog's day is february 2nd yes never forget freaks never forget uh back to the energy sector like what do you think do you think energy companies become the biggest miners or you think bitcoin miners the biggest miners become energy companies uh see like being close to this obviously having worked at great america mining

being on the board of cathedral like these energy companies are gonna get it man the lowest cost yeah it's the second it's the the energy companies are gonna dominate yeah because it's harder to become an energy company than it is to become a bitcoin miner yes i agree so bitcoin miners out there beware like maybe this is a nation a lot of the energy companies like have like borderline de facto government protected from monopolies too so like yeah so they have that advantage so large bitcoin miners i'd highly recommend that you develop strategies that include becoming an energy provider yourself i mean this may just be like, or Bitcoin's

13, the way the mining industry has progressed up to this point in time may just be an anomaly driven by enthusiasts like ourselves that allowed Bitcoiners to develop these large mining operations. But in the future, the big energy companies

are going to be like, we actually have access to the lowest cost, the lowest price point of the energy. We're pretty good at extracting it and turning it into electricity. So, we're just going to do this. So, if you're a massive mining operation you should be thinking about this uh very very seriously and be implementing it into your roadmap how are you going to become an energy company and if you're not how are you

going to convince the energy companies that they should acquire you or uh work closely with you as a contractor or partner however you want to phrase it this is pretty fucked up and infuriating And the IRS is beginning to require selfies for some services using third-party company, which is ID.me, correct? Yeah. And the guy who runs ID.me is supposedly... A spook. Extremely questionable.

They've had pretty massive data breaches in the past too, haven't they? Obviously, they're a facial recognition company. Yeah, this is not great. I mean, it's starting with niche services like the Child Tax Credit Update Portal. Um, but expect this to go across the board. And I think this is a very, um, poignant, uh, example of that KYC isn't just a Bitcoin thing.

It is, you know, permeating every aspect of our lives, uh, as Bitcoiners, we obviously focus on the Bitcoin specific things. Um, but they're going to make it, the U S government is going to make it harder and harder to be a law abiding citizen while still protecting your privacy and protecting your personal information irs wants your face this is just one another example you know yeah it's so fucked we don't know you don't live in a free country matt doesn't like me irs bashing but we don't live in a free country bill just prop prop note do we live in a make america free again bill please please god damn it please i think america at the federal level is falling i don't

think we're ever going to claw back that's why i think that's why i'm here in texas i have faith that texas will stand up for individual rights uh what are the weed laws like they're pretty bad there's a bunch of people smoking pot here in austin though it's like i've never had problems smoking pot in my life i had a college buddy who got charged with a felony for having like a dime bag a dime bag in texas but i mean that was a while ago right yeah yeah i'm not going to say how many years ago that was but it was a bit ago yeah yeah that's a good point i mean you don't need the wacky tobacco however with that being said regardless of the tobacco doesn't have nicotine in it so whether it's uh whether it's texas or some other states i do think we should

be leaning on states to protect individual rights moving forward i don't think the federal government's going to do it they've completely lost the plot they're completely co-opted they're completely against individual sovereignty and civil liberties they want to control i mean the selfie stuff for the irs is insane they and like at least like if you're gonna force us to take selfies like at least do it yourself like have a first party like take some of our tax money you're expecting the government to do that to build a facial recognition system it doesn't even have to be a fucking facial recognition system just like upload selfie you know i don't know it's a horrible policy but the third party company is even worse um it just shows like this corporate

government partnership where you have corporate surveillance you have government surveillance they work hand in hand together um and it should basically just be considered one and the same at this point and what did he recently the ceo recently made some bullshit claims about how they don't do like one-to-many face recognition and then just walked it back there's like a lot of sketchiness that's happening there yes um and what did mussolini define the the combining of of government and corporate actors it's fascism thank you it's fascism it's here it's here freaks you don't live in a free country you live in a fast it's been here for a bit but yeah live in a fascist oligarchic stake the sooner you realize that the better i mean america is not free

united states is not free many countries throughout the world are not free i don't know like we need to fight back for this you can do it peacefully with bitcoin you take your take your privacy back you can take your sovereignty back take your private property back bitcoin enables this we're literally in the fight of our lives the fight of our future we live in a fascist oligarchic state and they want to take everything from you they want to take everything from you and they're actively moving to do it i've been doing it slowly but surely this is the theme of this podcast i mean it started with the bank secrecy act it started before that with the federal reserve act you could argue bank secrecy acts stepped it up a bit

the patriarch stepped it up a bit the cares act step it up a bit this america competes act is going to step it up a bit the build back better act is going to step it up a bit the green new deal is going to step it up a bit these are not the green new deal is another one we didn't mention like it's the green new deal bitcoin's the green new deal the orange new deal it's uh doesn't have the same ring to it yeah yeah you're getting quoted on twitter already the u.s government is going to make it harder and harder to be a law-abiding citizen while still protecting your privacy and protecting your personal information why are you on twitter marty you give me shit about looking at the live chat and you're on twitter i don't know you called me out you caught

me i'm sorry press the retweet button though okay well uh next list on it's your next topic on the list next list on the topic next topic on the list i'm getting shadow banned marty yeah you are let's talk about that before we go on to the next step what's that been like what'd you do you tweeted out a picture of an empty shopping cart and you're making fun of bitcoin you're making fun of bitcoin it's not even like you're making fun of the government well it was it was i was like the beauty of the meme was right it's that meme that it's like your shopping cart gets smaller and smaller every time it was a while ago car uh your shopping cart it was like uh six days ago your shopping cart has less and less stuff in it if you have fiat but it has more and more

if it has bitcoin and just in either situation your shopping cart's empty now it's just grocery prices are going up bitcoin's crashing but yeah i got shadow banned for this people couldn't see the tweet and then my tweets since i've all been they're like hidden under a suspicious activity banner even i i had i had greg zaz uh fuck you greg uh dm me my own tweet and when he dm'd me this tweet it was it was blocked under a suspicious activity to my myself he tweeted he he dm'd my tweet to me and they had it hidden yeah yeah then you had uh but you had a tweet that went fucking viral i texted you over the weekend what was the tweet you sent out that was like getting can't stop the signal yeah well both of those tweets that tweet went crazy uh the shopping

card tweet did really well um what was the other tweet i forget here i'll go to our our chat because i remember being like holy shit you're shadow banned and this is doing fucking numbers right now um yeah i'm still shadow banned well anyway freaks uh twitter is my last stand on social media i have no other social media accounts um so if you want to if when i eventually get banned from from it you can you can find me in the tftc and citadel chat rooms on matrix that's tftc.chat and citadel.chat i am not opening up uh another social media account yeah the one i tweeted it was a great rally cry tweet if bitcoin fails we are all fucked governments and corporations would have complete and total control of money with the ability to track seize and censor at will

it's that simple life is short and there is no mission i would rather be focused on all in no regrets yeah that was a funny thing they tried to shout they're like trying to fuck with me with that tweet got like insane engagement yeah well it's not very effective it's a great tweet and as we've been saying throughout this episode it is literally

it's all it's bitcoin is an imperative freaks I'm sure if you're here and you're listening you understand this but I think we need to get this message permeated throughout the rest of society without bitcoin we are absolutely butt fucked moving into the digital age like we're just going to become a lube company if bitcoin fails that's going to be that's going to

be our pivot if if bitcoin we're so fucked we're just gonna sell lube that's uh we're all gonna get fucked in the ass by the government in the fast like my favorite first of all i'm i really don't think we're in like a 2018 style bear market but i've been wrong in the past uh so it's best to operate under the assumption that we are going into one and just make sure you're as humble as possible and you keep stacking regardless um but uh my favorite like when the price is crashing my favorite meme is the you know like you're like four beers deep with your bitcoin buddies and you're just like what if we're wrong oh that conversation gets dark real quick oh fuck my father-in-law's gonna beat me

it'd be so bad i just like wouldn't i just go live in a cabin in the woods and just like not talk to people anymore yeah like we are legitimately all in like there is there's like everything is on this financially socially intellectually publicly literally everything it's an imperative for us I want a more serious note this is the fight and as somebody who's got a child and another one on the way I do not want them to grow up

in this fucking digital panopticon I will not allow it I'll try not to allow it hopefully we get more people to join the cause take custody of their coins and use bitcoin and call out all these evil people around the world they're all fucking evil

they're demonic Again, for your sake, Matt, we'll use good arguments. They are restricting your freedoms. They don't care about you. Just look at their actions. They'll say things. Again, they say things with these acts. Patriot Act, Green New Deal, Build Back Better.

They say all these peachy things. If you actually look at the implementation of the policies that they're talking about that are supposed to do nice things, actually do very bad things to you um inhibit your ability to actually live free live free live free or die shout out jay stark live free or die motherfucker like life's not worth worth living if you're not fucking free i will not be a pod person i will not be a fucking cattle rest in peace jay stark r.i.p jay stark uh puerto rico tax breaks for outsiders is stirring outrage obviously there are a lot of big winners historically and continually that moved

puerto rico because they're two percent income tax is that what it is no it's a cap gains is a big thing and it's really fucked up actually because it's not if you're if you're a local you're not eligible for it it's only for new immigrants yeah so you have a bunch of hedge funders and rich and bitcoin people and crypto people and but yeah like all just a lot of rich people are coming to the island they get beneficial tax status and the locals don't get it it's pretty it's it's pretty remarkably fucked up to be quite honest like it's not bitcoin's fault you know it's not i wouldn't say it's not the individual's fault who's coming it is an approach i kind of understand you know they want to you know they're they're really struggling as an economy they're

trying to bring new businesses and and rich people to the to the island but it is really fucked up that locals can't take advantage of it yeah not really fair if you think about it and what like what is it and if you're part of rica too like once you want to incentivize your local community the people native to your island to actually build and innovate you can argue that they're actually disincentivized to do that because other people are just going to come in and get better tax breaks why would I

go through all the hard work to actually start something productive and additive to our society when other people are just going to come in and save more money than I would ever be able to hope to make there's a lot of things broken with Puerto Rico they would go bankrupt if they could but they're not allowed to go bankrupt

is that because of they're purely desperate it's because of the big old US of A we won't let them states can go bankrupt but commonwealths can't you know Pennsylvania is a commonwealth Puerto Rico is unique in it that they can't go bankrupt

Pennsylvania is technically a commonwealth too I don't think so I am from Pennsylvania Pennsylvania is a commonwealth you can look it up yeah but it's not like it's a different kind of commonwealth it's a state puerto rico is not a state i'm trying to search is pennsylvania a commonwealth and the first one

comes up is pennsylvania safe i think so philadelphia gets pretty north philly that's not the question marty i know uh it's a commonwealth there's a distinction there maybe pennsylvania is a commonwealth and a state but it's a state and puerto rico is only a commonwealth it is not a state it's not only pennsylvania either it's kentucky massachusetts Virginia and Pennsylvania are commonwealths. They're all states. Extinction doesn't mean

they are any different. Okay, there's no... I guess it's just they call themselves commonwealths. But they are treated like states, yes. So Puerto Rico is unique in this regard. Yeah, Puerto Rico's not a state.

It's a territory. It's a territory, yeah. I don't even get that stuff too like they can vote they don't have the same rights they can't they can't vote i'm pretty sure they can i don't think they can can where federal voting rights in puerto rico voting rights in united states citizens who live in puerto rico voting rights of residents of other can they vote i think so they differ but like they can vote in some elections i don't think i don't think they can we got daniel legler saying

they can't residents of puerto rico and other u.s. territories do not have voting representation in the united states congress okay they can't well they don't have congress but i can they can i don't think they can vote in the presidential election either united states constitution grants congressional voting representation to u.s. states which puerto rico and other u.s. unincorporated we have all these different comments about like what uh puerto rico status is and then we just have shop boys in there going I visited in 2019 it's gorgeous

it is gorgeous great I want to go to Rincon I want to surf Rincon now do Guam hopefully in the digital age they can't vote either we need to get back to like

they're farther away let's get back to sovereign city states and that create uh trade deals with each other just free and open trade behind sovereign city states that have their own laws and people can go live where they want i am sorry you didn't get the skydive shot boys that's a shame that's on you take some personal responsibility well this was this was a state politics with with your friends at rabbit hold recap we have one more topic on the list which i'll let matt take over and they finally after many many months of deliberation chosen the 30 open source projects are going to get free four-day passes to bitcoin 2022 use the other link car remember i dropped in telegram

uh so this i'm pretty excited about bitcoin 2022 april 6th to 9th we're going to have an open source conference hall uh that fits 2 000 people but in addition to that uh we have this open source ticket program that we started in october um we're expanding the ticket program previously uh so now we're adding another 24 projects so we have a list of 30 projects here open source projects here that are going to get any contributor to them that has done a commit before october 1st because we don't want people to go spam these projects with commits i can apply for a free four-day pass to Bitcoin 2022. It's been in the works for a couple months. I'm very excited to finally have it out there. If you already bought a ticket, you're not going to

get a refund, but you're welcome to sell or transfer the tickets. And yeah, it's going to be awesome. I love all these projects. I love our open source contributors. We're so lucky to have them. I'm truly grateful to our open source community. This movement would not be possible without them. And if you're not an open source contributor, consider becoming one. Some of these, you're eligible even if you, you know, before October 1st, if you did documentation changes or, you know, text edits, grammar edits, like these projects need a lot of support that's not just dev or engineering focus um and this ticket program is open to all of them uh and if you're not if you don't feel like doing that either um we have i have that code uh code open source that

gets you 21 off and i'm being told that don't share that on twitter as a reminder again i don't get any money from that code but if it gets shared on twitter like it seems very close to them removing that code from me. And if they do remove it, you can use the code TFTC for 10% off. For 10%, yeah. So you should try and use

the 21% code until that gets removed. Because that's just basic math. But if it doesn't work, the code TFTC will get you 10% off. And you're going to get 21% off. And that reminds me, we also, BitBlockBoom,

we have three codes for BitBlockBoom that we also don't get paid for, which is TFTC, RHR, and dispatch. false and they all get you the same percent off so i don't even just use one of them doesn't really matter gary and something i love good block boom i did too but yeah this is so each one of these has the logo not only do we have the logo of the projects if you click them it takes you to their repo it takes you to their github or get lab some of the projects you just

GitLab, so I thought that was pretty cool. Oh, this isn't good. Somebody, I'm getting made aware. Here, Carl, put this in the group chat that Trezor isn't the only one complying with that Swiss travel rule.

So they said BitBoxes. BitBox, Trezor, BlueWallet. Looks like, is that Sparrow? Edge, Pelerin. Well, Edge is garbage. No one should use it. or will soon have. So the following wallets

already have or will soon have built-in support for AOPP. Yeah, Sparrow. What's going on with that? I don't know. Is this on the Treasurer's website? I'm not sure. What is the...

I'm responding now. What's the source here? It could be... like Sparrow, if you use a Trezor with Sparrow, it supports it. And it looks like Sparrow is removing AOPP with the next release.

I wonder what the deal is with that. I got to talk to Craig. Craig's going to be at Bitcoin 2022, and he's going to be speaking on the open source stage. And Sparrow is listed as one of the open source projects. So is BlueWallet. Their contributors get free tickets.

shame publicly shame if they're complying with this you're on our side not the Swiss government side wallet providers okay no kyc only.com or go list and sizzle dispatch 51 still dispatch.com slash cd

51 um that was it for the list but it weren't that part of the cycle where I just get so many fucking emails shoegate you forgot the last item on the list no we're not going to shoot I mean whatever

somebody wrote an article about ShoeGate I will shoo every everybody I want to shoo shoo shoo Marty's trying to censor Marty's trying to censor the conversation I mean it's just a good parody who is the author

of this again? Young Remy Young Remy Remington Lebo ShoeGate 2022 we stand with you Remington look he's invading my personal space look at him leaning in there you literally invited him upstairs

you invited him upstairs into the into the studio handed him a pair of headphones and then this clip happened yeah cause I was done he said his piece he said he just wants to he's not getting he's not getting anything

I'll get another shoe in the face he's not careful I don't give a fuck the Benz can keep going all they want we got Tyler in the comments Marty is a monster let's be real I am I am a monster

not easy doing this I just want to make a note done the list shoe gates over I get these fucking emails it's a well versed Yeah, it is lacrosse. There's a lot of risks in the lacrosse game.

I really enjoyed the first sentence of that Shugate article. We're not going back to it. Where they talked about the difference. Everyone should go read the article. It's a very well-informed piece of journalism. What is it? Watergate, Pizzagate, Sharpiegate, Bill Gates. What do they have all in common?

The word gate. It's true. The word gate. They're all one word. The gate. whatever PR firms for shitcoin companies email me incessantly it's becoming like a point

where like I'm getting I might have to switch my email like because obviously with the RSS feed you associate an email with it and people are emailing me in and out like yeah that's where they get it from the RSS feed if you're if you're a PR

firm and you want your shitcoiner to come in the podcast number one it's never going to happen but number two please have enough respect to actually match up the subject line with your copy and pasted email. So here we have a subject line. Tales from the Crypt, a Bitcoin podcast guest request. Eric Chen,

CEO and co-founder of Injective Labs. Hi, Marty. We're a potential future guest on the Bad Crypto Podcast. This isn't the Bad Crypto Podcast. I'm assuming it is a bad podcast. Maybe he's just saying our show is a bad crypto podcast. Maybe.

She, Madeline. Madeline. come correct if you're going to come in my inbox uh i'd like to offer you eric chen you're offering him to me you're offering he's just not going to offer this dude that you're representing i mean i i think this is a sexual advance this is a sexual advance madeline i mean i think uh i mean i i i think they should know their audience and they can go fuck themselves but it's kind of bad for to just read emails on air. I'm sorry. I don't care.

I honestly don't care. Because this is a product incubated by Binance and backed by Mark Cuban. Have fun staying poor. I don't think this is bad for them. They're spamming my inbox. I don't know.

It's not like I'm reading her last name and putting her email out there. I mean, you read Eric Chen's last name. Yeah, I mean, he's public. It's not like I'm giving away... Who the fuck is Eric Chen?

Exactly. Like, stop trying to get these people on the podcast. That's one thing. Don't ask to come on the podcast. If I want somebody on the podcast, I will reach out to you. Eric, if you're listening, unsubscribe. Even Bitcoiners.

I have Bitcoiners ask me. It's like, I will ask you when I want you to come on. You should just respond to them, all caps, unsubscribe. I should. I should. I had to do that to a to a bent subscriber the other week boop

drop my drop my water there alright we're done I gotta get to Houston soon I mean we're done with the list we have some time to chat anything on top of your mind sir um no shit's serious i mean

uh yeah i mean i really do think that you know we should be like as big corners we should be pretty much operating under the expectation that we're on war footing here and that we're going to have attacks from every angle and that the first attack was kyc and it's just really frustrating that i feel like people aren't taking that threat really seriously um yeah it is a silent war i mean we're we're in world war three outside of bitcoin it's already we're deep in the world war three already it's not a kinetic war like wars of years past uh bitcoiners are a meta war within that war and and we're we're being attacked by all angles i have something to talk about um this was like the first real cycle where i'm getting paid in bitcoin oh yeah

and we obviously had the whole paid in bitcoin movement that blew up this year with athletes and stuff it is like it is absolutely brutal income tax treatment on bitcoin if the price stumps it is fucking brutal as fuck and like i feel like people talk about cap gains people talk about the injustices of cap gains and how that is dealt with and the extra burden that that provides but no one really talks about how income tax is handled um you mark the market at the time of receipt right so like let's say let's say you received um a ten thousand dollar paycheck and we were at $65,000 Bitcoin, and you received that in Bitcoin, right? You owe income tax on $10,000. So if you're getting taxed at like 30% to 40% on your income tax, you owe $4,000 in tax on that

$10,000 worth of Bitcoin you received in last spring or whatever. But now Bitcoin is at $35,000. so your bitcoin that was worth 10 000 is now worth like 5 000 and you owe four thousand dollars of taxes on it so you've made one thousand dollars because you held the bitcoin instead of immediately selling it when you received it as payment and guess what you're giving those tax dollars to a government that allocates it terribly inefficiently and does nothing to actually make your life better but in fact makes it worse by hiring a bunch of incredibly stupid people to thrust more bureaucratic regulations on your life like that is fucking brutal right like that is pretty insane like obviously the price goes up then it's it's it's great but if the price goes

down and dumps it is it is really bad and then oh dude of course when it goes back up again eventually then you're gonna have to pay cap gains on that dude one thing we didn't have on the list which may actually pertain to this is the imf coming after el salvador to rescind their designation as bitcoin as legal tender we should have had that on the list so we're going to talk about it now like why did they do that the imf came out and they said all right you guys can have your citizens use bitcoin wallets and transact in bitcoin however we the imf the international monetary fund an unelected banking institution a supranational banking institution nobody asked for uh we're going to pretend like we have authority over you we're going to tell

you to rescind your designation as bitcoin of bitcoin as legal tender uh why are they doing that your citizens can use it but you can't designate as legal tender and i think it has to do with something that many people were talking about when the bitcoin law first became a law in september which is the way that a lot of these international trade deals are set up is that if one country within any of these international trade deals designates something as legal tender it has to be recognized legal tender as yeah whatever happened to that well i think this is i think this is a bubbling of that coming back and the imf's trying to not say it overtly but is trying to strong arm like that because if the countries involved in these trade agreements are

actually going to respect them then all of them have to recognize bitcoin as legal tender and so I mean, that's also the issue with this income tax thing, right? Which is that your taxes are denominated in dollars at the time of receipt. If they were denominated in Bitcoin, then it doesn't really matter what happens to the Bitcoin price between the time you receive the income to the time you have to pay the tax, right? Because it'll just be whatever, 30% or 40, whatever your tax bracket is, depending on which state you live in and whatnot. um it would just be of the bitcoin denominated amount but because it's a fiat and the price dumps at the same time it is just fucking it is it is it is insane yeah and i think there is something there with the imf calling it out i think they're unintentionally but

highlighting that like it being legal tender is a problem for these trade deals or the countries involved in those trade deals because they then have to recognize Bitcoin as legal tender as well. Yeah, I don't know how valid that is, but we'll see. I mean, I think it's valid contractually

in the trade deals. However, they probably won't recognize it. They'll just gloss over it and be like, this doesn't mean anything anymore. Imagine trying, like, you can't go to Target and pay pesos. no and i can't pay my taxes pesos no and if i receive pesos as income it's marked to dollars at the time that i receive it yeah we need some so what what's the deal what's going on here that

doesn't it doesn't doesn't flow well i think i think it has to do with the internet so it definitely has to do with the trade deal yeah i guess vel salvador wouldn't have to force a foreign country to accept bitcoin when they're purchasing goods that would be the case for like they have to i guess it's a country to country deal so yeah it probably doesn't pertain to the income tax discussion that we're having um i just wonder like if we're gonna see so like i used a ten thousand dollar example right uh but some of these athletes put millions of dollars in so all those numbers are are higher i wonder if we're gonna see like a blowback fud i was like kind of like i i wasn't sure if i wanted to even talk about this because

you know price is down people are just being drama queens all over the place uh so like i knew i was gonna get accused of fud but i really do think this could be like a fun fud line that we see in 2022 if the price stays depressed which is like the play some of the players and celebrities that got paid in bitcoin um basically using as an argument against bitcoin even though it's really an argument against the tax burdensome regulatory environment right like it's not bitcoin's fault um but it could be an interesting narrative to watch yeah pulled up pulled up yeah definitely i mean i could see it being a flood okay so here's what kate long tweeted back in or june excuse me before the day after uh bukele or jack mallers

announced that el salvador was adopting bitcoin okay let's dig in here's a too long to read if el salvador adopts legislation to make bitcoin legal tender it likely gets status as money so treated on par with foreign currency by banks possibly gets cash accounting treatment under U-S-G-A-A-P-I-F-R-S solves Bitcoin adverse accounting. So it would just be like an accounting

thing you'd be able to use. Yeah, but she also tweeted this out like right after last year's Groundhog Day. No, this was June 8th.

This was the day after they announced. You're messing up Groundhog Day. We went over this February 7th. I mean, it was a couple of months after

Groundhog Day. My point is it was last year, right? Like this is, yeah, I don't know. Maybe a back door way to enable banks to handle

bitcoin may solve bitcoin's lower of cost or market accounting problem politicized immigration debate in the u.s probably comes into play too incumbents will try to block this well they were unsuccessfully able to block it el salvador did deny or excuse me enacted as legal tender and now the imf is trying to get them to rescind it and fuck you imf the international monetary fund you have no power over anybody if a sovereign nation decides that they want to adopt what they deem to be a better monetary system and they want to get away from the centrally planned monetary system and adopt a free market monetary system who the fuck are you to tell them no like screw you go away vampires devils reptiles the imf urges el salvador remove bitcoin as legal tender it urges

them take your urges and do something with them in the corner imf like pull up pull up the head of the imf some crazy lady in germany whatever again physiognomy is real look at these people matt look at these people they like they're like hall monitors they look like hall monitors they don't just feel like there's a lot of there's a lot of very strong arguments that can be made against these organizations and people but you just decide to attack their personal looks all the time which i feel like hurts the argument it doesn't hurt the argument physiognomy is real look at like you know i don't think you're gonna find it on their page but she's an old german woman with short hair and she wears like pantsuits that look terrible

like there's the people like lecturing you like you can't use bitcoin you can't use bitcoin because i say so they're they're the shoe people no they're not shoe people they're like they're The type of people that might chew a Bitcoiner. They're the soup Nazi guys. No, no, no, no, no. A shoe's very sophisticated. A soup Nazi wag is unsophisticated

and comes from an undeserved layer of or undeserved... Didn't one of the shitty rating agencies also downgrade El Salvador this week or last week? yeah where were you when we needed you to accurately uh i think it was moody's actually where were all the triple a mortgage products yeah where were you back then when when you had

strippers buying four homes with zero down payments those those uh mortgage-backed securities were triple a apparently fucking scam but they were getting paid by the fucking same banks that were putting them together yes and no one got and they all have government monopolies all the rating agencies have government-sanctioned monopolies and no one got punished. None. They're still around. People are still using their ratings to trade off of.

But also, objectively, I feel like if a president is buying Bitcoin, keeping it a bit go, and shitposting on Twitter, there might be some argument for a downgrade. Yes.

even even though the rating agencies can go themselves well yeah it will be interesting to see if this bitcoin bond is successful like maybe that that'll be interesting to see how that that plays out i mean it all a lot of it hinges on that bitcoin bond yeah and they actually raise cash it should be interesting to see how that plays out and to be clear like their bitcoin position is a very small part of their annual revenues gdp whatnot treasury but if they have a full subscribe fully subscribed bitcoin bond at a billion dollars it proves that they can raise capital external to the international uh debt system that exists and worse comes to worse they can just take more money from china who's building their library and their stadium yeah i'm sure

they'll be willing to offer it there's others i think other things on the list that we didn't have this week russia putin came out and said that mining they have a great reason so first the central bank i let this off because it just seemed like because it was like first the central banks that they wanted to ban mining so that had made the rounds and then putin came out and he was like there's a unique place for bitcoin in russia or something right yes yeah yeah so russia's posturing one way or another the seems like they're posturing both ways and another i mean And speaking of like Russia, Ukraine, the warmongering and the chicken shit neoconservatives are getting very emboldened right now saying that we need to send troops to the border of Ukraine and Russia, which is unnecessary. I don't even think Ukrainians want that.

You have many in that. Ukraine never should have given up their nukes. Right. You have many in that class. Well, this is all an energy problem. It all comes down to natural gas. Like the fact that Europe is politically unwilling to actually extract the natural resources that they have under their land to provide their citizens with, uh, with energy, they're forced to come into confrontation with Russia and Ukraine as the proxy for all that confrontation because they need the natural gas from Russia. fucking extract your own resources stop what about kazakhstan start stop virtue signaling and

what about kazakhstan it's kind of interesting right yeah that the ukraine stuff's happening the kazakhstan's stuff is happening with the protest kazakhstan's also former soviet country very energy rich massive country on the border of russia that was formerly the soviet union very geopolitically well-placed uh both ukraine both ukraine and kazakhstan have a lot of similarities yeah and i saw an interesting theory this week that uh this could all be distraction for china coming in on taiwan too so that's something to keep an eye on while all this talk about russia ukraine kazakhstan's going on like watch china and what they're doing hong kong people have completely forgot about hong kong it took down the tm square it took down the

Tiananmen Square statue in Hong Kong recently. Hong Kong's been completely taken over by China. There's no free press. There's no free markets. There's no freedom in Hong Kong anymore. And we got distracted by the COVID outbreak

and China conveniently used that distraction to take over Hong Kong and I would be aware that they're also trying to do this to Taiwan as well. So keep your eyes open for that. And I feel for Hong Kong. have a lot of taiwanese freaks don't like when you say that they don't they don't believe that well

i hope for the best but i don't think the us will step in let me put it that way yeah do you think the us will step in marty no no i don't think we should you don't think we should that's a different that's a different question i don't think they will and i don't think we should i'm a i don't think we will and i think we should you think we should you can't get in the hot water i'm like done with wars i'm done it's been our whole life you know i don't i i don't know i mean there's promises were made to protect taiwan yeah okay if their promises were made maybe we should protect them definitely arm them we are arming them yeah but anyway nothing's gonna happen i mean nothing's gonna happen from

the u.s side the u.s will not step in well the u.s wants to become china there's plenty of evidence that china the ccp specifically has infiltrated the united states in many ways i mean people forget about that harvard professor he was a biologist arrested by the fbi for giving secrets to china china's at war with us right yeah we're in the middle you don't think we should fight them well well i think bitcoin is the best way to fight them like we need america to adopt bitcoin completely like a like which is like the hard thing because you have to completely sever where's the line that's a good point i don't know it's certainly not uighur slaves and we're comfortable of that. China's infiltrated. They've infiltrated the NBA. I'm not okay with it. That's above my

line. Yeah, that's above my line as well. They've infiltrated the NBA. They've infiltrated Hollywood, infiltrated a lot of the capital allocation industry here in the United States. They're buying the CCP via proxy, is buying a lot of land here in the United States, buying a lot of stock and company. They're infiltrating the university system. It's pretty pervasive. I I mean, there was something, too, like Texas A&M, I believe, right here in Texas. They had a shit ton of professors that were proven to be paid by the CCP to push propaganda and send state secrets or university secrets back to China. They're at war with us. Russia's at war with us.

And we pretend we're not at war with either of them. but they're both posturing planning executing against us consistently and we are just pretending it doesn't exist well there's not one i mean the united states government isn't because i they've been co-opted i mean our president like fucking nobody wants to talk about hunter biden's laptop but that's what was on there proof that he was he was uh coordinating with members of the ccp to get the big guy some money to get some you would have to assume favors pushed through or to get the big guy to look the other way when he's president of the united states very evident that with this whole russia stuff too the biden family is very well connected uh

with ukrainian energy companies that have russian influence as well like it's all so would you if if if if biden stepped in in ukraine would you still believe that or i mean does that i mean i don't think you will so it doesn't really matter but would you still would you like so you think biden's in bed with with russia i mean they're they're in bed with they i think so i think they play all sides i don't think they actually care like okay they're in bed with china ukraine probably russia to some extent it's all projection too you know it was the thing they came after trump and again i'm not something like trump supporter i thought it was like great but like it's hilarious how you see the corporate media

and the political class projects like oh russian bots trump's a russian asset he was getting peed on in a russian hotel all turned out to be fake and what you really come to find is that the people screaming about all this are heavily influenced by russia and china i will say that if you look at a uh a top-down map of the world with russia at the top they're literally just completely surrounded by nato countries with the two big uh exclusions to that being kazakhstan and ukraine so there are pretty massive geopolitical ramifications for that on both sides disband nato disband the un okay you want to disband nato yes when are they an enemy of the united states or no i don't i want peace on earth i want free markets i think we can get that if we

if we just allow people to actually okay extract energy resources use them i don't so we just lay down our arms no we don't lay down our arms putin will just help us with peace on earth i don't think putin's gonna help us with peace on earth but i think we create the free market facilities that allow people to ignore putin which bitcoin helps with i i agree with that but i just we're not really do you want a kinetic war do you want to go to war what does war mean no i don't want i don't i don't want to i obviously war fucking sucks right people die uh i don't want to pay for a war i don't you know but at the same time i think russia and china are at war with us right now and i think it's there's there's a nuanced

conversation here it's not yes um and it's not a kinetic war you can you have to win the because if you end the kinetic war it's the end of the world we all have nukes somebody's going to use it and then the way nuclear game theory works as soon as one person launches the nuke the world becomes a nuclear wasteland thanks i just think there there was a pivotal point there in 2014 when russia literally just sent their troops in took crimea back before that georgia remember georgia and they just they just didn't put the badge on their fucking shirt and then they just said those aren't our troops right and there's so there's you have this aging bureaucratic mess that is the u.s government that just constantly attacks its own citizens and then

there's there's it's it's a paper tiger right it's like it's like it's not even they're not even uh we have these external aggressors that they aren't even doing anything yeah they aren't even they there's no no one there's all with all this talk and with like world war three and everything trending on twitter like no one in their right mind actually believes that the biden administration i think actually believes the biden administration will do anything aggressive no they will just stand the fuck by as everything fucking unfolds as is expected right and like part of the reason we're in this situation is because that is the expected outcome i agree it's just like you know the afghanistan war should have never fucking happened but still well that's what's interesting

about i know people don't like me talking about donald trump because they don't like donald trump but that's what's interesting about this russia and china working together and trump was trying very hard to get tough on china with the trade agreements and bringing things home which is a way to win that that cold war that we're in right now so all right you're gonna fuck with us like we're gonna fuck with you we're not gonna do trade deals with you anymore we're not gonna open up our economy to you we're not gonna allow you to do this we just lost matt they don't like us talking about this on tftc where'd he go car is he gone oh wow no he's coming back in now but people hate trump but that's what he was trying to do was engage in this cold war that

we're in and he he got coincidentally we we got a global pandemic uh was used politically against him and here we are we have the biden administration uh with the president who some would call the big guy who's done deals with china and russia in the past yeah great they're just going to stand by i think we did have somebody was trying to get tough with china and russia yuri bezmanov we're under a color revolution i mean this is why we have critical race theory this is why i think this is part of this cold war that we're in they try to degrade our culture uh and and have us die from the inside with all this infighting that's part of the war that we're engaged in then they do all their things over there it's a pretty sophisticated

attack strategy that's been implemented over the course of decades like they attacked the university system they attacked and just our welfare system and the way our government works they've successfully centralized power at the federal government level and it's pretty obvious they've been successful

I was not expecting to get on this deep into this conversation I mean like it is an important topic it is people are going to

call me some crazy conspiracy theorist just fucking look around I don't know do you think we're under a color revolution right now that we're under what

a color revolution in the united states no no why not you mean when you say when you say that so i cut out there for a little bit when you say that you mean like uh well like a communist takeover they're tempted yeah well yeah and how do they do that how do they do it in malice china i don't think so i think it's more fascist than anything i think it's like a combination of it's all the same it's all the same no it's somebody tried to call me off for that it's it like communism communism is completely different communism when enacted is a form of fascism like the the government has to use the corporate structure to enact their strategies like no no but in communism the government actually

owns the corporations yeah so what this is no the government doesn't own our corporations in a lot of ways our corporations own the government there's a distinction there and there's there's an oligarchy aspect to it as well and i just i really think that you know rich people and powerful corporations have an extreme amount of control in this society and that's not going away anytime soon so maybe people are attempting to do a communist revolution or a socialist revolution but i don't think they'd be anywhere near successful i don't know i think they've been pretty successful at tearing apart the fabric of of our society here in the united states that's what you do

again critical race theory all this binary gender fluidity is part of what Mao and Lenin wanted to do to enact their communist ways

actually I'm blocked by him on Twitter but James Lindsay had a really good dissection of this on a recent episode of Rogan um where you just you can just mao and lenin did something very similar where you need to create another you need to erode the cultural values of this society and implement new ones that are collectivist and that is exactly what's happening maybe it's a combination of both maybe we're

having a fascist corporate takeover and that's the fight that we're embroiled in is the fascist first the communist first us free maybe we're all dueling it out and us freedom yeah i mean fuck the fascists and the communists yeah maybe that's being quite frank yeah maybe those freedom lovers are are losing this battle it seems that way at least maybe that's the conclusion well we're winning because we have bitcoin and open source tools and and just tools in general that empower individuals yeah and we have our yeah um i've got to get to houston i'm getting i love you marty i love you freaks i love your car stay humble stack sets peace and love all y'all