TFTC: A Bitcoin Podcast - Rabbit Hole Recap #193: The unjust laws are on the rise

Episode Date: April 1, 2022

This week Marty and Matt discuss: - EU Parliament votes for more bitcoin surveillance and restrictions - mempool space launches new mining dashboard - kraken adds lightning support - new hub for bitcoin bounties - c-lightning changes name to core lightning - bitmex bank purchase falls through - nix-bitcoin launches security fund - chrome vulnerability update asap - gitlab vulnerability update asap - standard sats proposal - joinmarket webui v0.0.5 - sparrow wallet v1.6.3 - btcpay server v1.4.8 fixes shopify bug - specter v1.9.0 adds extensions - how the freedom convoy could have used bitcoin privately - wasabi blacklisting update - zbd streamer - strategic partnership between ten31 and seetee Shoutout to our sponsors: Unchained Capital Braiins HodlHodl Bitcoin 2022 - use the code TFTC for 10% off

What is up, freaks? This is Jigsaw from... Oh, what the fuck was that? It's all... You want to play a game. That's all I got. It's actually Marty Ben.

Go host the Rabbit Hole Recap. We just ripped episode 193. Last episode before we do our next live rip in Miami, Florida. Miami, maybe we'll switch up the ad reads here. Bitcoin 2022 is in Miami next week, April 6th to the 9th, like you just heard. Matt and I will be doing a live show on the 7th next Thursday

in the open source tent or on the open source stage. Join us. We're going to be physically and verbally assaulting bake it's going to be fun we're not even going to talk Bitcoin we're just going to mess with bake

that's on the 7th the 6th is industry day, we're going to get a whale pass and bump elbows with everybody in the industry you can do that there 7th and 8th are regular conference days

bunch of people going to be talking, giving presentations, doing panels, making announcements, big announcement week. I'm going to be live and in person for big announcements. Miami is going to be the place to be. And day four is music festival and a comedy fest. When you get cake thrown at you, Steve Aoki will be there. You just stay close to the front of the stage and he'll throw a cake in your face. I don't know why you do that, but some people get off on it. Use the code TFTC to get 10% off after visiting b.tc slash conference.

Get them while they're getting hot. 35,000 people are going to be there. A lot of people. b.tc slash conference. Use the code TFTC. 10% off. This trip was also brought to you by good friends at Unchained Capital. Very well represented at the Empower Conference in Houston this week. Parker Lewis, hardest working man in Bitcoin

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Go to unchained.com. Figure out how to do so. It's important, freaks. This week's rip was also brought to you by good friends at Brainz. A really good time hanging out with the Brainz team in Houston this week. Edward Evenson. Dude likes to party. He's a bad influence.

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Enjoy RIP-193 of RHR. We're going to win, freaks. We're going to win. I hope this inspires some of the silent majority out there. Speak up. Speak up. The impending specter, the pending looming specter, the looming specter of impending doom of the digital plan.

Opticon grows darker by the day. Each one of you in the silent majority, you have that light in you. You had that light in you. It's just got, it's got a cover over it. Rip the cover off, speak up, tell these people, no, no, I will not bend the knee to tyranny. No. I will not spy on my fellow man. No, I will not use your slave money. I will use Bitcoin and I'll do it however I see fit. Enjoy freaks. You've had a dynamic where money's become freer than free.

If you talk about a Fed just gone nuts, 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. Trying to get settled over here as you can see my laptop's in the screen now. Woo doggie!

Woo doggie is right. Here we are, freaks. did you see Parman said he can't tell us apart so I figured I'd go with your little wee doggy just to fuck with him do our voices sound like I don't think so but you probably have to watch at least I mean I don't know you have to

maybe if you watch a couple episodes to put them together who's who I'm Marty this is Marty's voice right now this is rabbit hole recap rip 193 we're meeting on a Friday this is Marty's voice right now

Yes, we are here on a Friday again, second week in a row. We'll be back to our regular regularly scheduled Thursday rip next week in Miami, Florida at the Bitcoin 2022 conference. Yeah, but that won't be streamed live. I don't think. No, we'll record it and then post it right after. Yeah. On the open source stage. so if you're at the conference

come to the open source stage what time is it Marty? Is it like 3? local time? it closes out the open source stage on Thursday I did most of the programming for the open source stage and I don't even know

I've gotten so many conference emails to anyone at the Bitcoin Magazine team sorry I've had email paralysis especially having been at a conference all week in Houston I got to inbox zero

on all seven of my email addresses two days ago and it was the best feeling ever I am nowhere near inbox zero at the moment I will say that my process of getting to inbox zero involved me responding to people like 15

days late I made it there well you're lucky your email address isn't attached to this podcast feed because the amount of shit coiners I have emailing me asking them to come on the podcast is it's not like it's you basically

need to have like especially since podcasting 2.0 requires you to have a public email address associated to it you basically need to have a separate one I think that you don't use that you have publicly in the RSS feed but yeah

probably too late for that I don't want to talk about your NFT projects it's weird it's like these pr companies and they they have like one page pdfs for people um who like aren't interesting at all it's weird like the the amount of people out there pay pr firms to try to get them into the media world uh i'm like yeah i would never interview this guy and just a word to the wise if you want to come on the interview series like i really don't like when people ask me to come on the podcast i'd like to curate myself um so if you're out there you're thinking about it it's not the best way to approach getting on tftc build something

cool do something cool and i'll reach out to you um 19 million bitcoins dude on the market we did it we made it to 19 mil not an april fools joke i fucking hate april fools April Fool's. I mean, we talk about this every year. Do you like Vitalik's post? Somewhat of a cell phone. I didn't read it. Neither did I. I just saw snippets of it. Like Vitalik did in defense of Bitcoin maximalism post, as an April Fool's joke, just for the record, he invented the term Bitcoin maximalism as a straw man argument against people being critical of Ethereum and Ethereum's ICO, as if our concerns with how that was set up were solely because it wasn't Bitcoin,

which is not the case. Yes. Fun fact too, interestingly enough, Vitalik co-founded Bitcoin Magazine. It is true. Gave it up when he started pumping his own bags. I think he sold it to the BitPay guys and then the BitPay guys sold it to current ownership.

yeah i'm not positive don't quote me on that i will not i will not quote you how are the stress levels right now leading up to next week it's pretty good considering it's a 35 000 person event and ticket sales been raging this week a lot of fomo a lot of fomo i mean we just had a hell of event in houston texas this week the empower shout out to digital awesome was awesome shout out to the uh digital wildcatter guys um jake and colin through an incredible event fortunately i had to leave before ted cruz got on stage to get back to my my my expecting wife um but yeah what time was ted on stage it looked late there yeah it was like eight o'clock i had a flight i flew from houston austin uh my flight was that backdrop is dope

are those normally there yeah so this was at the 8th Wonder Brewery in Houston yeah that was the Beatles stage I got very sunburned

on that stage throughout the week why is it the Beatles stage is it the Beatles play there if you can see the large statues behind Ted Cruz right now it's the Beatles

ah gotcha yeah Carl why don't we play at least the first 30 seconds of this clip it's 1.23 you can play it God bless Texas.

Well, it is great to see y'all. What an amazing venue. I understand you guys have had a fantastic conference. Let me say thanks to the guys at Digital Wildcatters for hosting. And thank you everyone for being part of this conversation. This conversation is exciting. This conversation is about the future. It's about the future of Texas. it's about the future of america about the future of energy and it's about the future of money

yeah the future of money uh very high signal event it is becoming abundantly clear that the energy sector particularly oil and gas is all in on bitcoin and the convergence that we've been talking about here for quite some time is is visible it's happening i don't think there's any turning back and it's an incredible thing both for u.s energy producers and energy producers globally and the bitcoin network bitcoin needs a lot of energy to basically have this distributed consensus and the people with the energy are bought in on bitcoin so this is a great thing to see um no matter i was uh i was bummed i couldn't make it but between the conference and i was in when i when was i in austin uh a week ago a week ago two weeks ago two weeks ago um

and we had a we had a great national bitcoin meetup uh this week whiz was there right yeah whiz is in america from tokyo and he announced uh his new mining dashboard for mempool.space the world announcement at National Bitcoin. It's a cool dashboard. Have you seen it? Yeah. I think it's the best one now. I like how you can

click the pools. Carb, go to the dashboard real quick. Is it mining.menpool.space? It's menpool.space slash mining. You can scroll down. Click slush in the pie chart.

And then it shows their hash rate over time on the chart. Scroll down. And it shows every block. Hell yeah. It's pretty cool. Clean. Slushpool's been getting some fat fees this week.

I've been tracking their their Telegram bot. They've been averaging like 20 million sats a block. Cars, scroll up. Click the chart one next to the hammer on the top. and then do pool dominance and then do two year

look how cool this chart is I think this is fucking awesome if you scroll down a little bit car you can see like foundry emerge from nothing to go to the top which is pretty crazy yeah scroll down a bit car

so we can see this whole chart you can't just scroll down the page weird but anyway if you look at it on a regular computer you can see the actual date and time on the bottom hell yeah but you can

see foundry basically come out of nowhere and take the top spot and you can see them change over time which is pretty fucking cool sweet let's uh let's get more mining data out there I mean mining becoming hot again

becoming hot again mining might be the hottest it's ever been it's so funny again going back to the digital wildcatters van and power and just seeing oil and gas guys like fucking roughneck cowboy hat

shit kickers like old school fucking oil men hanging on to every word at this conference because they wanted to learn as much as they could about Bitcoin. That was the cool thing for me. I had a gentleman.

He was from South Dakota, relocated to West Texas recently in the Permian, running an LNG plant. And he was just describing like, yeah, I was computer illiterate before I got exposed to Bitcoin miners. And now I'm setting up huts at our LNG facility and connecting the miners and putting them at

pools. And it's just like this convergence of very blue-collar work converging with Bitcoin mining. And it's just like they fit hand-in-hand together. And so beautiful to see that it's providing jobs in rural

parts of the country. Chad Everett from Riot. I really like the presence. We're going to get him on the podcast at some point soon. But the presentation he gives about what they're doing at their Windstone facility. It's really cool how many jobs they're providing and then they're doing a good thing in their local

community. They bought and built a couple baseball fields, I believe, or erected large lights for the community at their baseball fields. And there's really cool symbiotic relationships budding due to

the Bitcoin mining industry becoming more integrated in rural areas throughout the country. So we've talked a lot about the hollowing out of the manufacturing base here in the United States and mining as an industry is actually helping to reverse that trend a bit. Obviously, it's not saving everybody yet, but there are very positive signals in that regard of mining coming into these areas that have been dilapidated because of Triffin's dilemma about just pushing out our manufacturing to low wage countries. Bitcoin mining is bringing it back i mean we announced the cathedral last week disclaimer i'm on the board uh we're uh we've

we're revamping uh a factory up in in new hampshire i believe it used to be i saw that berlin right what uh you you guys said that you're building roving bitcoin miners does that just mean like a storage container on a tow truck uh i believe like tank because in my head i want it to be like tank tracks we'll be like tank treads with a container on top that just self-contained and can just move but eventually we'll get there we'll get there eventually but now right now rovers um they're just going to be containers that are very mobile so they'll have wheels and you'll be able to they're not going to be drivable themselves but you'll easily be able to hitch no tank tracks not yet not yet um but we will get there this is a good in aj make it happen i want

to see uh i want to i want to see autonomous tank track uh roving miners moving around plugging themselves in i mean that's that's where it's going to get like when you think about the application of bitcoin mining uh for initial production of oil and gas wells it just makes a ton of sense if you can drill a well you have a crazy amount of gas that comes out in many parts of the country initially but then you have a steep decline curve of gas production uh on new wells and so maybe you can fit just by example even numbers you drill a well you get 10 rovers on it to begin and then as that decline curve comes there's not enough gas for 10 so you peel off two and you move down the road,

you drill another well and you start like a little operation there. So you can like time up drilling schedules with more certainty due to the fact that you don't have to wait for a pipeline, especially in areas where they have heavy flaring regulation. Bitcoin miners really can help out in the sense that you don't have this uncertainty

of what you're going to do with the gas. Are you going to flare it and then have to shut down because you're flaring too much? you're going to have to wait 18 months to build a pipeline. No, you can just bring these rovers. The decline curve comes. You can peel them

off, rinse and repeat down the road. It's going to be a beautiful thing. Still very early days. That was another thing that really came out. This week in Houston, people are like, oh, I feel so late. All the Bitcoiners are like, don't worry, we're so, so early.

This is only just beginning. let's fucking go before we get too far into this rip let's go to Clark's dashboard real quick we're sitting at 46,370 cuck bucks, one cuck buck is going to get you 2,157

sats, market cap is 881 billion we are at block height 730,011 just past 730,210 thousand blocks or less than two hundred ten thousand two hundred nine thousand nine hundred eighty nine blocks away from the next having um that will be at block eight hundred and forty

thousand we had a difficulty adjustment i believe yesterday right where's how come i can't find this oh yes yeah we went up yesterday no we went no two days ago two days ago it was during the national bitcoin meetup when he was announcing it yes so today two days ago we had a difficulty adjustment upwards you're right of 4.1 percent blocks are coming in at 9 minutes and 41 seconds on average we are 1797 blocks away from the next adjustment as of right now that estimate is a downward adjustment of 3.7 percent blocks been coming in at 10 minutes and 21 seconds on average since the the last, since the adjustment a couple of days ago. As of right now, the next adjustment is estimated to be on April 13th.

There are 10,000. I think it's the first time we've been in a five-digit mempool in quite a while. 10,187 transactions in Clark's mempool. Maybe that's why I've been seeing fatter fees. Samurai Whirlpool is sitting at 4,482.82 Bitcoin in unspent capacity. That's $207.6 million in unspent value, and that is up, I believe, almost 100 Bitcoin since last week. It fell below $4,400 last week, if I remember correctly. Interesting.

Let's get into it. Let's get into it. The EU Parliament votes for more Bitcoin surveillance and restrictions. This is something we've expected. the EU is getting very Orwellian, very authoritarian and they're basically trying to tell Bitcoiners that they need to

collect and store data on their counterparties and transactions even if you're using a wallet that you control, a non-custodial wallet What do we think here? What do we think here, Marty?

We think that everything that we're expecting to happen is going to keep on happening and Bitcoiners are just going to have their head in the sand and pretend like they don't have to fucking give a shit at all. Why do you say that? You don't think anybody gives a shit? I'm just being hyperbolic. Of course, there are a lot of Bitcoiners that are concerned and are taking precautions on their own end. But at least on Bitcoin Twitter, there's a heavy amount of head in the

sand thinking that they can just ignore it and they can keep providing sensitive information to regulated services and they can keep using those regulated services and that it'll all be fine and they don't have to do anything that they don't have to take personal responsibility like this movement was never about personal responsibility to begin with and anyone who says that Bitcoiners should consider supporting projects, proving their own understanding, using the tools,

is really flooding Bitcoin and is an enemy to the movement. And that's a very, very healthy situation to be in as a community. And you just really love to see it. War is upon us, freaks. and your uncle Marty Jones who often screams

are we free do we live in a free country I mean this isn't my country and the EU is not a country at all it's a union of separate countries they even live in a union of separate countries free a free union I mean the EU is fucked

but for all our European freaks out there that live in countries that fall within the EU sometimes it's attributed to Thomas Jefferson. I don't know who said it, but I agree with it. Whoever the fuck said it first. If a law is unjust, a man is not only right to disobey

it, he is obligated to do so. Again, we've talked about it many times. The idea that the government wants individuals to collect and store

information, sensitive information on their counterparties it's reckless what do you expect so Joe Schmo down the street who barely knows how to run a password manager to

to collect personal identifying information on his friends and store it at his house like what the fuck this is unjust sarcasm aside in practice what I expect this to result in is what we've already seen

out of Switzerland which is that exchanges will essentially and this is what that aopp nonsense was that exchanges will essentially have you like check a box saying you're not sending it to anyone else you're just sending to yourself um and then on a long enough horizon what is going to basically be happening is a de facto criminalization of private bitcoin usage and when i say private bitcoin usage i don't even mean using coin join or using collaborative transactions or using lightning i just mean self-custody sending between each other um and if you're if you're not educating yourselves on privacy best practices you're

going to stick out like a sore thumb when they decide to make examples out of people so cheers cosign but i'll also say these laws are unjust you are not you do not only have the right to disobey them you are obligated to do so if you are a human who cares about freedom in the digital age like push push is coming to shove like they are trying to shove us into the panopticon this is a very strong move in that direction and you as an individual with inalienable rights somebody the creature of god that is equal to every man and woman in terms of your ability to to seek freedom liberty and happiness in digital age you are obligated to disobey these laws because if you don't if not if enough people do not stand up and fight back against this tyranny

you're going to wake up in the digital panopticon and people are going to be enslaved in the digital age like you literally have an obligation to speak up to act and to say we are not going to do this and not only individuals corporations in the eu and eventually in america it's definitely going to come to america as well uh you yes you may be regulated you may be all that but if you really care about freedom in the digital age you are obligated to stand up and say no we are not going to do this and it's literally it's an it's just it's just a decision there's Nothing physically they can do to prevent you. I mean, they could physically show up to your office

and try to prevent you. They could literally just put you in jail and seize your assets. I mean, they could try to do that. They may do it to a few people, but we need more and more. Somebody's going to have to go through the door first to get shot.

You go to jail, but we'll come get you. We'll come get you after. We need people to stand up and disregard this tyranny. it's scary but it also highlights that they're worried they're really trying to clamp down as fast as possible

they're losing control, they're losing their grasp, their grip on their control over individuals the world over and they're flailing, we saw it in Canada with the freezing of the bank accounts there we're seeing it the way the West is reacting to Russia posturing like they're going to shut off their gas if they don't pay in rubles and stop freezing their bank accounts

and now we're seeing it in the EU with individual usage of Bitcoin trying to be hindered and slowed down and trying to thrust regulations on we're going to win freaks, we're going to win like Vake said in the comments

freaks together strong you just need more individual and that's the other thing that happened this weekend in Houston that was like funny for me to see. So I was on a few panels and inevitably on every one. I don't want to say these people were trolling,

but they were trying to induce a reaction out of me. And they asked me like my thoughts on ESG. I got asked like four or five times. I gave my ESG rant, it's communistic. Everyone's favorite rant. You can't create a metric system for amorphous subjective values that differ between individuals, industries, countries, race, creed, whatever, uh, it's

literally impossible to create a metric system for these value systems. And then it's not about the environment, social justice, or, uh, fair governance. It's about control at the end of the day. And everybody, there was fucking people working for super majors. There was people with at family offices very rich successful individuals that came up to me after like yeah dude you're right like none of us like this it's all bullshit so everybody knows it's all bullshit like everybody knows this eu rule with the transaction monitoring is bullshit uh you just need more people to say it it's literally that's all it takes yeah but easier said than done it is but hopefully we're doing our best to help give people courage to speak up against this stuff because humans have

a herd mentality and for some reason we i think we're making headway and i'm not saying us individually but everybody pushing against the esg is making some considerable headway it's becoming there's cracks in the dam of esg it's it's getting exposed and people are feeling more emboldened to to call it out we need to keep that momentum up and similarly with the demonization of self-custody and private bitcoin usage we need to keep doing that as well and i think we can crack that damn and eventually break it but many of you know it's right many of you know it's all fucked up there's i know there's many of you freaks out there like i'm a quiet behind the behind the scenes guy i don't like to publicize

much but when it comes to this stuff like it is important that number one you get your voices out there then number two you uh disobey civilly in public and say fuck you that reminds me chris ripple can go fuck himself chris lassen i mean he i mean they're not sending their best freaks they're not sending their best do you have that on the list like a bunch of big corners just realize that Greenpeace is a corrupt organization. That was a great meme. Always has been. They are the fucking worst.

They really are. Well, that's funny. Them and PETA are like my two... I had the original founder of Greenpeace on the podcast last year. His name's escaping me right now. It's bad. Oh, the one that's anti-Greenpeace?

Yeah, the original founder of Greenpeace has been on this podcast. You can go look it up and he found a green piece and he was like what an environmentalist should be is like yeah i just want clean oceans i want to make sure like we're not having oil spills i want to make sure that we're doing our best to to to preserve environments and then he was like yeah i had to fucking leave because a bunch of hysterical zealots took over the organization i started and they were not environmentalists at all they were political like communists trying to to force change on the world. That has nothing to do with

the environment. Yeah, Greenpeace is an environmental terrorist organization these days and they don't really care about the environment. They care about control. They're stopping nuclear power plants and shit like that. Doesn't make any sense.

And then Chris Larson, who should be in jail for securities fraud. He's a co-founder, CEO of Ripple, which was an unregistered securities offering, um, that enriched many sleazy people, Jed McCalla being one of them. Uh, fun fact, he was the one who originally founded Mt. Gox and then handed it to Mark Carpellus, uh, knowing that the exchange was extremely insecure and that Bitcoin was likely

being siphoned off. Um, and see many blame Mark Carpellus for Mt. Gox's failure. And that certainly does deserve some of the blame but it there's very few people that realize that one of the co-founders of ripple and who actually went on to co-found stellar as well was the original owner of mount gox so he has mount gox scam he has ripple scam he has stellar scam um there's you killed it he did okay he's rich as fuck he's a billionaire now um and he's not in jail not in jail his co-founder chris larson is