TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Bitcoin Week of 2021.02.01

Episode Date: February 4, 2021

This week Marty and Matt discuss: - Elon playing games - Senator Lummis appointed Senate Banking Committee - Microstrategy Bitcoin Summit - Grayscale GBTC premium goes negative for first time - California pension fund goes HAM on RIOT - Darknet markets hit new ATH revenue according to chainalysis - Matrix Chat Client Element removed - Zeus v0.5.0-beta1 - Bisq v1.5.5 - Hexa Wallet v1.4.2 - Phoenix v1.4.6 - Home mining for non-KYC Bitcoin - Self-hosting guide by Ketan - Coinbase targeting Nasdaq and $50B valuation - New Fed paper on inequality - Ukraine considering nuclear mining - Proposed Bitcoin Ban in India - India blocks internet amid protests - ATMs, banks, and internet access have been shutdown in Myanmar following military coup - Casa raises $4m in seed round - XMR.to shuts down - This Month in Bitcoin Privacy: January 2020 - Bitcoin 2021 Conference moved from LA to Miami in June Shoutout to this week's sponsors. Cash App. Start #stackingsats today. Use the promo code: "stackingsats" to receive $10 and contribute $10 to OWLS Lacrosse when you download the app. Unchained Capital. Check out their white glove vault concierge service that will take you from zero to secure multisig setup in no time. Use the code TFTC and receive $50 off that package that includes 2 Trezor Model Ts and $1,000 in your vault.

Sup freaks, it's your boy Marty here to introduce this episode of Tales from the Crypt, Rabbit Hole Recap. What did we just record? It was a Rabbit Hole Recap rip, and it was a long rip. Matt and I just talked about a bunch of things. Very, very long list today. I'm gonna let you guys proceed to the episode. I'm not gonna bore you with too much. This episode is brought to you by good friends of the motherfuckin' Ketchup! Ketchup's have a new stack set, send sets, receive sets, and sell sets if you're so pleased. we're saying sats sats sats sats give me the sats give me the sats give me give me give me the sats because sats are the smallest denomination of a bitcoin you don't have to buy a whole bitcoin you

can stack whole sats there are 100 million sats in a whole bitcoin all right you don't have to buy a whole bitcoin a lot of people out there like oh my god it's like 37 000 i can't afford that you don't have to you can buy a little as a dollar you can buy as little as a dollar worth of sats Right now, that'll get you about 2,682 sats, okay? You can DCA in the sats on the Cash App. You can buy daily, weekly, bi-weekly, send it and forget it, so you just have it going in the background.

You're just constantly stacking, stacking, stacking. You can get sats back with their Bitcoin boost when it's offered. You can get up to $7.50 worth of sats back for shopping anywhere Visa's accepted with your boost card, right? Cash App can be your bank account and has routing numbers and account numbers,

so you can get your paycheck direct deposited into the app. So you can just start stacking immediately. You can become your new bank account. Yeah, that's all we got. Use the code stacking stats. That's S-T-A-C-K-I-N-G-S-A-T-S. When you download the app, you're going to get $10, and $10

is going to go to our good friends at Owls Lacrosse. That's Owls Lacrosse. owls across this trip was also brought to you by a good great incredible lovely beautiful professional smart security conscious friends at unchained capital unchained is doing uh incredible things to provide financial services products for bitcoiners with a security first mindset uh actually before we get into the bolt program their white glove concierge service i want to give them a particular shout out um for news they dropped yesterday uh that they're

they're actually uh increasing the amount of collateral needed for their loan product uh and this is being driven by the fact that they don't want to ever have to uh liquidate their customers again their motto is friends don't let friends sell bitcoin so with uh unchained capital's loan product you can instead if you're in a pinch for cash uh and you don't want to sell your bitcoin you use your bitcoin as collateral to get cash uh you have to over collateralize that loan typically uh up to this point you have had to do that but after march uh of last year when we had that 50 drop in price uh unfortunately some bitcoiners had to be uh liquidated uh across these lending services and Unchain wants to make sure that never happens. And so they're raising

the collateral limits so that the loan product can stomach deep drawdowns in the price of Bitcoin. And this is actually not going to affect too many customers on Unchain at the moment because most of their customers are over-collateralizing out of an abundance of caution. So they're just going to make that the standard now and do that again so that their customers can keep their Bitcoin. So shout out to Unchained for being proactive in that regard and really staying true to the Bitcoin ethos, trying to make sure that Bitcoiners can hold on to their Bitcoin as long as possible. And so if that has to do with their loan program, they also have an incredible Volt program. Again, they're providing financial services for Bitcoiners with a security-first mindset, and nothing exemplifies that security-first mindset than their Volt program. All right. And you freaks are going to get a special offer to go from zero to a multi-sig

vault with a thousand dollars with a Bitcoin in it. Uh, with this white glove service, there's going to be a link in the show notes. Uh, it's typically a $1,500 package, but for you freaks, it's going to be $1,450. And what you get is a couple of video conference calls with the unchained team. They're going to walk you through multi-sig. Uh, they're going to get you comfortable with multi-sig. Uh, the vault program is a two or three multi-sig in which you hold two keys and Unchain holds one, you can always move your coins out of the vault by yourself with your two signatures provided by the keys that you hold. But if you ever need Unchain to step in to be that two of the two or three signatures, you need to move your UTXOs. They're there for you. So again,

they're going to have these conference calls where you get comfortable with multi-sig, get you comfortable with their vault product specifically. They're going to send you some hardware wallets. they're going to get comfortable with creating private keys for those hardware wallets securing those private keys and then setting up your vault and then again at the end of the day they're going to drop a thousand dollars worth of bitcoin into your vault so you're going to go from zero to a multi-sig vault with a thousand dollars worth of sats in it in no time using their concierge their white glove concierge service so go check out that particular service using the link in the show notes and go check out everything they're doing especially their blog park lewis

but gradually and suddenly putting out incredible content. Phil Geiger has been writing a great newsletter I saw. Actually, now I'm checking my email. They have a new update on HODL waves. I haven't read it yet, but I'm definitely going to read that next. www.unchained-capital.com. Check out everything they have to offer, the products, the content. We love these guys.

We're proud to have them on as a sponsor. And hope you freaks enjoy this episode. Love all y'all. Take care. 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. Well, hey there, freaks. It's your boy Marty Bent here to introduce... Woo-hoo! Doggy. What a list. What a list. What a pop.

That was a great pop. What are you drinking tonight? It's because I'm back to scotch. We ran out of Mezcal in the cabin. What kind of scotch? Obon 14, tried and true. big fan of the obon big fan of the obon i've been cutting back 2020 was it was a big year drinking for me i think i drank this is disgusting but literally six out of seven days of the week

for 52 weeks oh that's been doing been doing uh cutting down to three out of seven days a week friday through sunday it feels good i've actually lost a lot of weight sleeping better but i do miss drinking whiskey with you i may have to break my uh i may have to stop drinking on sundays and do thursday through saturday or something like that yeah i mean i think thursday should be um you know the equal opportunity zone or something like i don't know i don't know what a phrase is the thursdays thursdays should be immune from any kind of reform right they're sacred there are sacred bitcoin thursdays i'm a big fan of thursdays i love thursdays because you're just like ah tomorrow's friday you get to be happy you're almost there

i love it because like right now i'm working like four different jobs at least in my head but uh the tales from the crypt side i like kind of hit a mini vacation after rhr because then i i don't have any i guess i have the sad standard but then after the sad standard i don't have anything until dispatch on tuesday then wednesday is like this random like sunday in the middle of the week and then i'm joined on thursday again so i don't even know it's a weird it's a weird schedule for me but i definitely feel like a huge i mean and you can see this on on on twitter i think caps odell was born um last thursday after after rhr i'm pretty sure um and he's been going strong he's been going strong all week so

this cap so della is five drink matt's alter ego i if the freaks remember on rhr last week it was like uh 45 minutes in or something i mentioned it's only fact it can only be considered fact if zero hedge tweets it out in full caps and that was the inspiration for five drink matt after he left rhr and just hasn't stopped since i love it i'm loving it it's uh it's great to see Dude, your following has gone like crazy. The people love Caps O'Dell. They can't get enough. Caps Bent may have to come out.

What a week. We've got a long list here. Instead of getting to Kolarik's dashboard, now we're into the podcast like we did last week. Maybe we should start there, ground ourselves. What do you say? Yeah, I'm down. That was my favorite takeaway of the last RHR.

One of the freaks tweeted out. 54 minutes in okay let's get to the let's get the clark's dashboard yeah well we'll get to the wall street we'll start with the wall street bets even though we don't have the list i have some thoughts there uh according to clark's dashboard the current price of bitcoin is 37 295 seems like we're we're in a bit of a consolidation phase here we're springing before jump up potentially potentially could go down it just feels like a column before before a big move uh currently your cuck buck one cuck buck is going to get you 2682 sats uh the total market capitalization of bitcoin is 694.3 billion gold been falling uh this week as bitcoin's uh staying relatively stable

all right now one bitcoin is going to get you 20.8 ounces of gold and the bitcoin versus gold market cap is approaching six percent at 5.99 there are 1,232,935 bitcoin held in corporate treasuries across the world at the moment we're at block height 669 nice thousand and 95 uh there are 18 million 619 269.15 bitcoin that have been distributed to the market that's 88.66 percent of all the bitcoin that will ever exist uh we are currently uh between difficulty adjustments would be pretty miraculous if as i was speaking there was a difficulty adjustment going on uh the next one is in 216 blocks so less than a day or less than two days uh estimated to be on the six which is saturday and it's looking like as of right now it's going to be an upward difficulty adjustment

of 1.4 percent blocks over the last uh epoch have been coming in roughly nine minutes and 52 seconds which is eight seconds faster than the 10 minute block target uh they're currently 54 000 excuse me 55 200 transactions in clark's mempool uh what do we have here let's find oh fees versus reward predicted that's predicted next block i want the average over the last 2016 i don't know if i'm to find that real quick it's been 11 11 percent uh that's good so the average fees per block is 0.77 btc over the last 2016 blocks that seems to be holding steady and going up uh their unspent capacity on whirlpool looks like it was down i believe it was 2200 something last week it's currently sitting at 2145.27 btc or 80.1 million dollars 80 million dollars is fucking

insane right well it's a good i know i said we're start with wall street bets but since we're on samurai right now i want to give a shout out to our boy like whoa who's been helping me set up my ronin dojo uh and it's been an incredible experience um again running it on a raspi 4 he's had me in in my terminal uh ssh-ing it ss rooting into ssh rooting into my raspi and communicating with it from my laptop it's been a fun experience downloading that uh and um i very much look forward to starting to use ronin dojo um it seems very simple very straightforward and he's actually got me on a branch that has Spectre enabled. I don't know if that's available to everybody yet.

Am I leaking some beans here? I know it's publicly announced that it's coming, at least, if it's not out already. Yeah, so I think I'm going to be testing it, at least. I'm waiting for – I have IBD done, but now my node is indexing everything, and I just have to wait for that to finish, and then I'll be running with it

and setting everything up and adding to that liquidity. Since I've been bougie homeless lately, I've had to take a step back on the node boxes. But I look forward to diving back into Ronin Dojo and seeing what they have in store for us. I mean, this goes in line with what I was saying I've said in the past. I think there's like a very strong argument,

especially if you want to be really active in Lightning or you want to be really active in 24-7 CoinJoin to have a dedicated device for one or the other, right? If you're going to be running a Lightning routing node 24-7, then really you should probably have a box that's just that Lightning routing node, right? And if you're going to be putting a substantial amount of coin into Whirlpool or JoinMarket,

you should really have a box that's dedicated just for that. it reduces your attack surface because you have less things going on um both of those cases you have hot funds on the device you literally have bitcoin private keys held on the device and then also it just helps from a reliability point of view right less less moving parts less things can go wrong yes totally and it's interesting as i again i have been public about the fact that i'm sort of upping my my desk game here for tftc my laptop from 2014 is seems to be on its last leg so i'm upgrading to a mac mini that's just arrived today and i've i've got a bigger sd card in there thinking that i was going to download a node but now that i have this

dedicated raspi i'm like sort of questioning that like what would you recommend you think i should download a node on my mac mini too just you got how big is your ssd uh two terabytes i yeah just fucking do it i i think uh i think there's a good argument to be made um that for you know your cold storage setup for your your specter setup that you have a local copy of bitcoin core um you could either do a full a full uh you know actually like the full chain or you can even do it pruned if you wanted to you know and have like 10 gigs of data there but uh i mean i would just do the full sync i'm really curious the mac mini has the new m1 chip in it um which if you haven't listened i did a uh a podcast with paul miller where we just talked

about the the dichotomy of being a nerd and having the m1 chip released but also caring about open source and just going back and forth but that chip is like insanely performant so all trade-offs aside in terms of closed source software and whatnot like it should be able to sync a node like insanely fucking fast uh combined with the ssd so even if you do it and and later you need the space you know in in a year two years three years you need that extra you know terabyte of space or whatever uh then you can you can erase it then but like i i purely from a nerd perspective like you should definitely see how quick how quick you can sync core um from scratch on that baby yeah it's crazy i remember seeing on twitter i forget exactly who there's a few bitcoiners who

got it really early on they were saying they did ibd in like 15 hours like using the mac mini which is pretty insane um yeah no it was substantially less than 15 hours it was like six okay i'm gonna it was it was the comparison was that the ibd beat um his three thousand dollar macbook pro from the year before his six his six hundred dollar mac mini uh was quicker than his three thousand dollar macbook pro from the year before and that's the difference between apple's new m1 chip which they do in-house versus their previous intel chips it's it's just a it's a complete game changer in terms of chip design yeah i uh while we're on this topic the mac mini literally showed up that's why it was like a little late showed up right before we hopped on this call and i just

want to tell the delivery man whoever whoever brought my mac mini thank you for getting it here safe but fuck you for waking up my son five minutes into a second nap of the day that uh it's never fun my wife is not happy right now she's down there dealing with a very cranky baby i can hear them is there a product uh idea that can solve this issue for uh young fathers uh if you have our number just text us don't ring the doorbell and and if you're going to come to the door don't have headphones in so you scream when we open the door oh my god i hope your delivery man's a freak and he's like got his headphones in right now listening to the podcast unbeknownst to him forgive and forget the silver lining of this means my son's going to go to bed

a little bit earlier tonight so we the wife and i get some more one-on-one time not that we don't love our our our time with her child but no one blames you'll understand yeah you'll understand um yeah what's this like the wall street bets thing man the air has just been completely taken out of that sale right like they take a lot of people last week were like oh they're gonna go from stock to stock to asset class to asset class and pillage the shorts and it's like it's it's been completely demolished the whole movement in my eyes i don't know what you think well i mean i wouldn't let's not get that deflated um they're moving to bitcoin hashtag sat squeeze um i i mean i think i think this is why it's important

uh to not play the rigged game right this is why we should be devoting our energy and our time to a game that actually has firm rules that can't be changed by a select few that can't be abused and manipulated by the powers that be um that game is bitcoin um this idea that they were ever going to win um in this rigged stock market uh when let's be honest like even in a success situation they were going to have to sell their their game stop at some point they were going to have to sell their amc at some point there was going to be a top and there was going to be a dump uh when that was going to be was up for grabs but it was going to happen with bitcoin we don't have that dichotomy that's what people don't realize this is a a short squeeze on the world um billions and billions of

people are short bitcoin and they don't realize and we never need to sell we are never going to sell we stack we stay humble and ultimately we will win and and and you don't have that that secondary aspect where you need to worry about the rules changing or needing to know when you're supposed to fucking sell the top yes if you take custody like and you actually have sats in custody The power that provides you to short squeeze the people that are short Bitcoin around the world is immense when you compare it to something like that happened last week with GameStop and the powers that be stepping in and halting trading and forcing Robinhood to liquidate some trades on behalf of their users, forcing the price down in one direction. Bitcoin is really the only weapon that has the ability to actually, let's give credit where credit is due, WallStreetBets, the 10D army certainly did give a very material blow

to the traditional financial system and the hedge fund world last year. But as we're coming to find, it seems to be a bit ephemeral where Bitcoin and the adoption of Bitcoin could have a more long-lasting effect, potentially an effect that persists into perpetuity if we're successful in getting enough people to adopt and use Bitcoin, which is happening. It feels like it's happening. That's what I wrote about in the bend today. Let's just jump into that as our first topic, I guess,

is the fact that Senator Lummis, Cynthia Lummis, TFTC alum, she's been on the pod. uh appointed to the senate banking committee it's a pretty massive news i mean the senate banking committee is one of the uh like most respected committees on the hill and it has a lot of power in the banking and finance we're a lot of sway particularly in regards to regulation so we officially have a a strong very strong and vocal bitcoin advocate in a very powerful position on this committee i wrote about it in the bent today right before we hopped on here to uh to record this it's encouraging to see so you have senator lummis on this committee and then you have like so just talking about like government officials and that are uh bullish and and

advocating for bitcoin let's talk the federal level you have senator lummis you have emmer davidson um i know i'm missing at least one who's the other one emerson davis tupper uh emerson davidson i'm not sure it's escaping me you have a rep from north carolina a rep from minnesota a rep from ohio and a senator from wyoming um at the federal level then at the local or the yeah local level state and local level the mayor of miami francis suarez really putting a big effort to court bitcoiners to his city and talking about paying city workers in bitcoin and and just trying to recruit people to come to his city particularly to to innovate around the technology that is bitcoin i'm sure there's some crypto stuff in there as well some

shit coinery but i think at the end of the the noise will will persist uh we'll get to mayor suarez in a second okay yeah yeah just like just laying it out here yeah our lady our lady senator loomis okay the freaks know i'm against idol making we should be very careful about anointing idols and putting people above judgment um senator loomis is the exception she's our queen this is extremely bullish everything she said has pointed to her being fucking amazing for bitcoiners i am so fucking proud and honored that she has been selected for the senate banking committee this is massive news for bitcoin it really is it really is and she has a chip on her shoulder too being from wyoming um a state that is uh one of the the leaders in terms of uh

really trying to to like similar to miami trying to court bitcoin businesses and and uh draft laws that are um that are sort of allow bitcoiners to do things that they can't do in other states and You know, a couple of that with the fact that Wyoming arguably has been attacked by the Biden administration with their their ban of oil extraction on federal lands. Wyoming is 80 percent federal land and the oil and gas industry is pretty significant there. And so in terms of an individual who's number one, a Bitcoiner, a very strong Bitcoiner, an advocate of Bitcoin. and then number two has a chip on her shoulder to make some noise and fight back against the federal government to some extent

because of what they're doing to her state. It couldn't be more bullish. Just everything she's saying. Did you see the tweet she sent out last week? It came for the sound money, but I stayed for the censorship resistance. Oh, my God. She's on the Senate Banking Committee.

No idol worship, guys. No idol worship except for Senator Loomis. Listen to what I said. Be cautiously optimistic. it's what i wrote about in the bet like it's i am unconsciously optimistic right now marty you should never be complacent when it comes to bitcoin adversarial thinking and preparing for the worst types of attacks that you can think of should always be the modus operandi and the the the way you operate in stasis but like with that being said it is extremely encouraging

to see stuff like this like if anything best case scenario senator lomas is successful in changing the hearts and minds of the other individuals on that particular committee and just her co-senators on the Hill. Worst case scenario, she's up there advocating for Bitcoin, at least extending the conversation and delaying any potential attacks on Bitcoin from the US government. So you said that our Bitcoin congressman, she's our Bitcoin senator, right? I think she's the only Bitcoin senator we have since we lost the backed founder, right? So our congressman, our representative, Tom Emmer, Ted Budd. Ted Budd was the one you forgot, right?

Of North Carolina. Yes. And Scott Perry of Pennsylvania. And then, of course, Warren Davidson, who's like the leader of this so-called caucus. um and then like there's obviously a special shout out for representative brad sherman who completely understands the value prop of bitcoin but is against it yeah shout out to you brad the representative from california who looks like a derelict 100 understands what bitcoin is about though right it's gonna attack our ability to control the reserve currency

it's true it's true true brad sherman you bucktooth motherfucker i want to get that on like one of those you know like those inspirational like placards uh that you see like a lot of housewives get for their houses or whatever but i just want like a quote of brad sherman or whatever like bitcoin prevents us from using the u.s dollar as a weapon like brad sherman 2019 make it happen freaks make it happen uh but yeah staying on this tip like government officials and bitcoin again going back to the local level down what's going on in miami that's actually extremely encouraging to me as well because that's something i preach a lot in the letter what we preach here on this podcast is this effort if it's going to be successful

has to be somewhat grassroots right you have to have you have to turn to your local community and And that's the only way this is going to get widespread is you have a bunch of localities actually fighting for and advocating for Bitcoin. And that's incredible to see what's going on in Miami right now and how this one of the largest cities in the country is as a mayor that's openly advocating for grassroots movement in his city to to adopt this technology. That's extremely encouraging. So so let's unpack this because I think this is a little bit different. Right. So we have we have the House of Representatives. You know, we have our so-called Bitcoin caucus in the House of Reps. We have Senator Loomis on the Senate Banking Committee. They both seem to be advocating. I mean, obviously, they're they're advocating for their own jurisdictions. Right. But mostly on the Bitcoin side of things, they're advocating for America to not be left behind, that we don't, you know, shoot our citizens in the foot in terms of Bitcoin policy on a macro level, like in terms of competition with other countries.

um what we're seeing with with mayor suarez is something entirely different um which is is this game theory play out that we've talked about a ton of fucking times on this podcast um where he's competing with all the other major cities and miami is a secondary second tier city like maybe not this year um but we've discussed this in the past like the the underdogs the challengers are the ones who are more likely to go for bitcoin and adopt bitcoin first and it's because it gives them an edge it gives them an edge over uh over their competition and and we've stated this this is in the past you know we we saw cash app did it you know disclosure their response are fucking obviously did it before paypal um we saw sailor do it before musk right like so so the the challenger

guys are way more likely to adopt things um before the the main tier guys and they do it to get an edge so right now we have the mayor of fucking miami who's doing everything in his fucking possible everything that's possible to both put miami on the map in terms of tech business but also court rich bitcoiners and and he seems like he's taking an active attempt it's not just the business side right he's he's actively taking meetings with rich bitcoiners trying to get them to move down to miami we have this way on the bottom of the list but uh bitcoin magazine who i'm now i i am i've been helping them with their conference and content strategy as a disclosure has announced that bitcoin 2021 has moved to miami and this

not only have they moved to miami they moved to miami in an environment where la where it was supposed to be would not give them any kind of guarantees or commentary on it right like they wanted to throw this huge event that was going to bring tons of tax dollars into fucking la and tons of business into la and they were being neglected um and obviously i'm speaking for myself not for that company but miami welcomed them with open arms you know they there was meetings with suarez uh he's excited for it to happen desantis the governor of florida is excited for it to happen it's a complete change of of of perspective over a city like la who's resting on its laurels so it's pretty cool to see this competition play out um as far as bitcoin magazine so now that's going

to be bitcoin 2021 conference is going to be miami june 4th june 5th marty and i will be there we will be doing a live rhr as is tradition um it's going to be fucking lit it's going to be fucking insane freaks uh so consider joining us there i'm i'm very excited to look i'm looking forward to it i'm extremely excited it's going to be an incredible weekend vibes are going to be high like first big in-person conference in miami like beginning of the summer it's going to be hot like in la so yeah they're going to lose that it's like it is crazy to see like like you're seeing like la um lose out to places like austin and miami and new york city as well is is losing out to these these places like uh like a lot of i know personally a lot of new yorkers who have moved to

austin and miami just in the last month it gets i know you call me a never yorker or no yorker but it's hard to deny like de blasio and cuomo are fucking up look behind me these mountains aren't in new york city right it's uh i uh but this is exactly what's happening we're seeing we're seeing the top you know the so-called heavyweights the top tier cities in quotation marks right um i mean i don't think new york is top tier in quotation marks i think it it was top tier and i hope it will be top tier again but like san francisco i would put quotation marks in um but like you see these big-ass cities and they're losing out to the challengers right because the challengers are more nimble um and they're more adapt they adapt more but but this is what we

want to see right like this is one of the cool parts of america you know i i've been very critical of our country i love this country um one of the coolest aspects is that we do have this competition on a local governance level right like i wish we had more localism the u.s federal government has gotten way too overbearing and way too strong but you compare us to other other countries and it's pretty fucking cool that in the middle of this whole pandemic and chaos and bullshit that we have all these different jurisdictions handling it in different ways and we have free movement of people between those different jurisdictions in in a nearly free market situation right like obviously like it's a manipulated controlled market it's not a proper free market but it is

pretty cool watching it all play out in this respect as compared to something like a france or something where there's like no there's no refuge there's no competition you just have to just take what the state gives you yeah leone and paris aren't really exactly competing for for businesses and stuff like that yeah it is incredible to see it is encouraging too right like america county and philadelphia have zero faith in you um but pay attention to what's going on uh it's uh it's beautiful to see hey i'm going to check out texas i know my mother's not going to like this if you're listening but i'm going to go check out austin i tweeted out last night but why won't your mother like if you're checking out because she wants you nearby yeah she wants me in

philly because i have got her grandson and and i am her son she would like to be close but it's really honestly it's not that appealing like philly's scared shitless right now is there last weekend and it's just like uh it's like bad vibes um so i'm excited to to go make a trip to austin april check it out i've been to miami a couple times support austin over philly yeah um we'll see we'll see the family thing does change it though right like family is like uh having family with a young child is you know especially when you're trying to stack some sats yes there's a lot of advantages to it not only cost but cost is a major advantage as well i mean i've seen i've seen a first hand again my cousins their kids um it does take a village and we would

be leaving the village well you'd be entering a new village your kids are just going to be like indoctrinated indoctrinated bitcoiners that's well that's gonna happen you're gonna have like like parker is just gonna be like taking care of your child and just like completely fucking red pilling in at the same time you don't you don't trust my ability to orange pill my own child i i i think it it enters a a little bit of a culty level like when you go to austin like i love you guys over there you're fucking killing it um but if i raised a kid in austin like that kid would be the most like the the most aggressive bitcoiner ever like by like the age of 11 like what the fuck like imagine what he grows up with like i don't even it'd be 3d printing guns and

making his own hardware spare parts like like his first word is going to be like dad you're a shit corner or something you know like you're not you're not pure enough for me father you didn't stack enough what'd you do uncle uncle justin told me that you just were too humble and you didn't stack enough he said you were you were drinking too much scotch you could have stacked millions more stats if you weren't tricking the obon um no that's actually that's actually something i think i was like in 10 years whatever we still have this like audio archive of our conversations about this what are my children gonna think what are they gonna say hopefully they don't listen to it so i had that thought the other day and i was like um

especially like the really drunk ones right like the the arbed out episode uh the episode i recently did with peter like don't listen to it like just drunk drunk rambling of of matt just like screaming about x pubs and i was like what are my kids gonna think in like 15 years when they listen to that and then i said well at least we're not porn stars that's true whoa whoa this is the first negative porn uh porn comment i've ever heard come out of your mouth oh i mean i i i completely defend free speech i just uh yeah your dick's not on the internet that's yeah i mean i prefer i prefer my child didn't see me having like hardcore sex in video form yeah me too me too I don't know if that's critical to porn.

I just think that's just a reality. That's something that you have to think about. Well, some porn stars have to live with that. Some of them end up having children. A lot of them do. It's a very real thing. This is true. All right, we're a half hour.

Let's get to shout-outs. We've got two. I warned you yesterday. We've got a juicy one to start out with. Very hard question. Good question. Yeah, just sticking it. Not sticking it to us, but really saying,

hey guys what do you think on the latest rabbit hole recap matt said isolate yourself from kyc we have to opt out if a service needs kyc i will not use that service start insulating yourself yet you also advertise the stack sats with cash app on every show which i do regular which is it i always run into difficulties when trying to use one of the options at no kyc only dot com and revert back to the simple cash app buy button then i whirlpool also outside of meeting someone with a sack of cash there seems to always be some level of kyc if i decide to stick with the routine i'm using is cash at the best house in a bad neighborhood should i abandon my routine and trudge the road of figuring out how to go no kyc the no kyc way i fear that if i stop my cash

app routine my stacking will dwindle or cease i'm now paralyzed as i trust your wisdom in insulating myself i cannot overstate the value of tftc i am a grateful freak thank you i never sell or spend i stack for my children from bitcoin dad i will just say one thing before you start then i'll follow you don't just don't trust us don't trust us you go first i agree with what i co-sign what marty said um so so i actually said i think like in tandem with that line i said the only carve out that i do think is relatively reasonable and i do myself is if you have a kyc job you have your fiat job with your fiat paycheck all everything's kyc'd um and you use a kyc on ramp for those funds in this case i use cash app for that right so i have i have an auto buy set up on cash app

and basically my kyc paycheck um half of that automatically gets converted into sats and i do that on a daily basis because it's just more satisfying to me that being said i will not use any other kyc service that that is the only that is the only i've literally only kyc twice in bitcoin land it was coinbase i then i deleted my account which let's be honest you didn't actually delete your account and then it was cash app those are the only two times i've ever kyc in bitcoin um and then i immediately whirlpool afterwards um obviously you're not you you your record of you having that transaction exists if you don't make any mistakes and you use whirlpool your forward privacy should at least

be protected in terms of transactional privacy going forward which is important i think everyone should should should exercise that right um and i think it's important to realize from a uh just a practical point of view that the most important thing to realize is when you enter into a kyc service you're entering into a trusted relationship and you're entering into a trusted relationship that is custodial privacy and you're trusting them with your privacy um so you need to have like realize how much trust that is that's a massive amount of trust you're putting in that company so like you shouldn't be putting it in any and then this is why i say isolate yourself like you you should not be putting in any fly by the night company right like just trusting them

with like your passport information and your facial skin and like all this fucking shit like that's crazy like reduce the amount of of services that you interact with kyc to the absolute minimum obviously the ideal is none the ideal is that you just get paid in sats just off the books you know but like who the fuck like it's very rare that you can get that situation the second best is you get paid in cash you know and then you convert it to sats very few people are in that situation so you just try and like isolate yourself um as as much as you possibly can and be realistic about it and and you can have there there's no there's it's not mutually exclusive like you can start trying to figure out how to get a kyc free stack on the side while you also have you know your auto

stack that's going from your kyc funds um and and the most important thing there is even if you're putting them both through whirlpool um you should have them segregated they should always be segregated just in case just in case you fuck something up like have them segregated the other thing that people like they say to me like oh i use this like why do i need whirlpool or whatever like no matter what where you get your bitcoin you have a trusted there's a trusted third party involved um whether that's on bisque that you're getting it from a peer whether that's on a cash app where you're getting it from a company a regulated company that's keeping records obviously that's worse than the peer or even if you're mining which is arguably the best way to to get

kyc free sats um you're using a pool which hopefully you're giving fake information to and stuff but you still don't want them to see your future transaction records right so no matter what like whirlpool should be a standard process for everyone in terms of normalizing their sats and trying to you know you know in in not you're not only helping yourself you're helping you're helping the whole fungibility of the ecosystem right agreed yeah yeah no bitcoin dad thank you for the question yeah it's a good one and i guess i fall back onto like the old adage don't let the perfect it in the way of the good like if your goal is to stack sats uh as much as many sats as possible and and um it's hard to do that in the no kyc ramps which it is it's hard for many

reasons again liquidity you got to pay a bit of a premium um the uh the actual onboarding to those services isn't as straightforward as downloading the cash app and buying um so yeah it's it's a personal decision for everybody weigh the risk and the amount of risk you're willing to take the amount of information you're willing to expose and and act accordingly again if you're if your goal is to stack as many stats as possible yeah you may have to engage in k you probably do have to engage in kyc services uh know the risk know how to yeah like matt said whirlpool and hide your uh future or produce future privacy for yourself um yeah it sucks and it's like the nature that's the other thing too like a lot of people like to conflate these services with the kyc aml

regulations and i'm a strong believer in and all this is like don't hate the player hate the game like we said that last week yeah the the the it's been yeah we did say like i was beating the desk like kyc aml regulation make us hate all the players that was my point that he's quoting and i i still stand by that like look the way i look at it right is i think eventually i think there's potential that the players could step up against the game i hope so i mean marty's very marty marty is very optimistic about that we do have our queen on the senate banking committee you know maybe things will happen okay but my point is um we've talked about on this pod in the past that we think like self-custody itself on the regulated institutions will get restricted and banned

and that that is a very you know that that is a potential option obviously if that happens um i would would never recommend anyone use those services because if you can't take custody you don't have bitcoin so any service that doesn't let you take custody can go fuck itself automatically no matter what robinhood paypal visa right the the if a service where i'm going to draw my line and i'm going to be i i think i've been pretty vocal about this and i will i i promise the freaks that i will draw the line hard here is if as if we start seeing accounts get banned for going into whirlpool on withdrawal then there's there's no value to me in in a kyc on ramp um the the value prop i see here and and this is where there's an interesting dynamic because you know the cash apps

of the world can't talk about this the swans of the world can't talk about this the rivers of the world can't talk about this best practice is for because they just don't want they don't they don't want it to be out there right but best practice is to go into whirlpool afterwards or at least some kind of coin join but whirlpool is is my favorite implementation um and as long as you can do that then it's basically to me is the same as withdrawing cash from your bank account you already have kyc funds in your bank account and you withdraw cash right the bank knows you withdrew that cash it's a fully kyc from that point on when you spend that cash they don't know what your future transactions are right you have forward-looking privacy and that's the same

case if you convert those kyc funds into bitcoin and then go to coin join the only difference is they know you're a bitcoiner so if you have amazing opsec and you you've been able to hide all of your interest in bitcoin to begin with then maybe you're exposing yourself as a bitcoiner there right but if you don't have amazing opsec then you're really the powers that be know you're interested in bitcoin already you know for the most part so you're not really i i think if you go into coins or you're not really sacrificing as much right um so that's like my major my major thing and and i don't think it's a coincidence that we haven't you know i think i think part of the reason we haven't seen major crackdowns is because the freaks have been outspoken about it

i've been outspoken about wanting that that to exercise that right to coin join that exercise that right to privacy um and i i hope that the freaks will be outspoken if we see any kind of transgressions against that um like we need to keep we need to keep the company's honesty because right now there's there's it's completely legal to use coin join and so if if they're if they're banning accounts based on coin join usage um they're doing it out of their own volition they're not doing it out of out of compulsion this is true yeah again freaks just well it's on top of my mind running ronin dojo highly recommend it um i forgot to mention earlier in the episode the guide that's been helping me out from our friend bitcoin q and a so his connecting or migrating or samurai

wallet to run a dojo is incredible very straightforward very easy to follow so if you want to get into this mix um of of world pooling uh sorry for using the word mix there matthew um thank you i highly recommend that that guide um shout out to bitcoin q a yeah there's nuance so bitcoin dad thank you for the question thank you for the shout out yeah for the shout out um i'm sure i'm sure there's many freaks out there with similar things it does get confusing it's like you have an ideal um again and then you have these things that are less ideal don't make perfect the enemy of good enough right like if you're looking to stack as many stats as possible make sure you're doing that like another way i love stacking stats kyc

free stats is accepting it for the shout outs like thank you for contributing to my our matt nice no kyc stack it might not be no kyc why you say that we're not kyc uh oh they know they know they sent it to us but you have to you have to have they could have paid us he could have paid us from he could have paid us from cash app yeah but cash app has no idea what he paid it for i guess cash app doesn't but if he paid us from unless he wrote it unless he wrote it was it via lightning this one particularly no this was on chain if he pays it through strike via lightning then we get kyc doxxed because their public key doesn't change which is a perfect segue into the next into the next shout out in the last shout out of the week hey

guys love the show an old buddy of mine paid me back for something in bitcoin back in 2014 as a joke and a week later i started stacking not nearly enough but hey who actually stacks enough didn't exactly go down the rabbit hole though until early next uh last year excuse me and now thanks in large part to you guys i'm running a full node managing a cold card with specter and freaking verifying pgp signatures appreciate what you're doing for the space please don't stop if we're ever allowed in city again uh drinks on me at 243 east 34th street a little community citadel gonna get my money's worth here so matt recommendation for a place to hodl domains it's a question for you from a non ps robin hood in quote in parentheses likely illegal also sorry

i paid with strike you paid with strike there you go yeah yeah he knew he knew i was gonna give him shit about i appreciate you letting us know at least yes thank you there's so so that's a weird dynamic right uh i mean before i we appreciate your shout out before i answer your question that's a weird dynamic that doesn't exist in cash right so if you go to a bodega and you pay a bodega in cash that bodega knows that there's no record of that payment officially right um if you accept lightning payments as a btc pay merchant you don't know if you know some transactions have like a kyc taint on them it's it's very it's it's it's impossible for you to easily tell it's just straight impossible for you to tell that it was paid by strike

um so you have no idea unless the user tells you um so there there's a question there and i know there's been all this talk about rotating pub keys and stuff and lightning is new okay i look forward to it but right now as it stands if you're a lightning merchant um you have to basically operate under just like users should operate under the assumption that their government knows all their kyc records that anyone that that all those kyc records will get leaked at some point all your withdrawal addresses will get leaked at some point to anyone and you should operate under that assumption any lightning merchant should operate under the assumption that every single payment came from a kyc payment um and and proceed accordingly but anyway in terms of domains it's

there's only one it's name cheap um they accept bitcoin their trust is third party they've never fucked me um i am a name cheap whale so if they ever fuck you let me know and i'll reach out to them i actually interviewed the i think he was the coo or the cto of namecheap for bitcoin magazine and that was a fun one um but uh yeah they accept bitcoin they've accepted bitcoin forever they do it on they now run btc pay server um which is badass and they're just very good uh just a very good company i've just been very happy with their service you purchase this shout out uh at tftc.io slash contribute which is hosted by namecheap um because i brought it that's true thank you for the shout out freaks the shout outs freaks we love this part of the show to interact with you guys

uh and to this particular aid non can't wait to throw some back with you uh in what is that mary hill yeah mary hill and uh i can't thank you enough for listening and and i'm happy that you got some value out of the show that's why we do it we do it to help provide value to you freaks this is a new technology a new monetary good a new revolution and we just hope that we're helpful like we said to bitcoin dad in the first shout out don't trust us though this is just our perspective make sure you have your own perspective and do your own research we're just here to give you some guiding thoughts at least what we believe to be guiding thoughts along your journey it's going to be a long journey we still got a very long list yes that's why we're here freaks i mean

we're here for the mission uh we're here for freedom we're here for sovereignty and we're here because bitcoin is designed to pump forever and we'd feel guilty if we were sitting there in 40 years and we didn't scream it to the world and let them know ahead of time yes we're doing doing what we feel is our duty to to make make you guys aware especially since all this institutional money seems to be coming into the space very soon uh yesterday we had giga chad sailor uh throw his micro strategy bitcoin summit uh in which he uh is walked institutions who are curious about adding bitcoin to their balance sheets through micro strategies playbook open sourced how they did it how they how they acquired bitcoin how they're considering

it was an open source i mean you walk like he opened up his playbook okay yeah he opened up his playbook yeah it's not it's not on github okay it's not good but he's opening it up educating other institutional types corporate types how how to get bitcoin on their balance sheet in a legal quick and uh safe secure way um the big the big uh interview of the day was ross stevens from stone ridge capital and uh ny dig which is a subsidiary of stone ridge and it's the interview that everybody's talking about basically sailor and ross walking through ross's thoughts on bitcoin the innovation it provides the world and how it may change the world moving forward and yeah extremely bullish um yeah i mean it was very bullish uh i don't think it's anything we haven't

talked about though right you know he um he basically gave gave them our bitcoin twitter show uh in a nice polished format um the emh lovers would the efficient market hypothesis lovers uh where did did all these institutional purchases uh get priced in already or Or are we waiting for them to fucking figure out how to buy Bitcoin? Because it's not that fucking easy and it's going to take them a little while. Right. Well, that's the timeline I've heard like quickest. If you're going off a sailor's playbook, it's 12 weeks.

Probably the average time will be 16 weeks, so about four months. And then the laggard is obviously longer than that. So we shall see. Yesterday was the 3rd of February. 12 weeks from there would be like around the first week 200k by June you keep saying that

200k by Bitcoin 2021 it's we expect John Vallis to throw us the 100k party that's going to be separate from Bitcoin 2021 I'm going to focus on making sure the 200k party is as good as possible we're going to half a mil by the end of the year

half a mil by the end of the year when sat set and parity we're just going to keep topping each other just I don't know Do you see Scott Minard came out And he was like fucking He's like 600,000 now Guggenheim

He was 400,000 before he's like 600,000 And I like feel like if a major fund You know That has billions of dollars of assets Under management comes out at 600,000 dollar price prediction As a completely cultish Bitcoiner

Like I should be way higher than that Like I can't come in we can't come in we can't come in lower than that that's ridiculous that's pretty sad yeah yeah we can't let these these noobs coming in with their suits just run us yeah we're going to a million by 2025 sad sentence parody god damn it um i think go to sats and parody.com when will we hit it not yet um so i uh i i think the main takeaway here and and i doesn't get enough press um is that every single fucking person who buys bitcoin has a direct incentive to both improve it and shill it they want to see it succeed if it succeeds they make money

the long bitcoin bet is viral as fuck um we've seen that with sailor we are going to see that with elon we kind of saw it with him he pumped it seven thousand dollars overnight um by just changing hashtag bitcoin into his bio these billionaires are waking up to the fact that because bitcoin isn't a security because bitcoin is scarce as fuck they can legally pump the shit out of it um and they will do it as we all did it you know uh you know we had pierre and bitstein in 2012 they bought some bitcoin they created the nakamoto institute to pump bitcoin right it's like you have a direct incentive to fucking do it why are we here on this podcast right i believe in the mission i believe in freedom i believe in sovereignty 100 i also think that we need new

bitcoiners like we need people to come into the space we need them to be educated we needed them to be strong bitcoiners who run their own node who who are who are proper bitcoiners who hold the fucking line right and that's why you fucking do this and and you see this all throughout the fucking space that is not new what is new is the scale we have yet to this is the first time we've had a billionaire fucking he had people on his yacht he had ceos on his yacht and he got a cyber hornet in gold for the centerpiece and put it on his fucking table okay and that dude that dude ross stevens had like a fucking original times of london january 3rd 2009 uh framed behind him too like these guys are in yeah i mean i mean look but ross stevens company is like literally

onboarding billionaires yeah they make money the more people they shill the corn to that agree to it right and i just want to just add anyone who calls it nai dig you're on my shit list it's new york dig ny dig you know it's not nai dig we don't we don't new york might be going through some trouble right now but we're not gonna fucking down you know call it nai nai is the wrong it's the wrong pronunciation i've been calling it not ny dig i didn't mispronounce it well to your point about the feedback loop the first person to point this out was satoshi i'm gonna go back this is on the p2p foundation uh forum in satoshi on february 18 2009 so this is a month and 15 days after the network was launched uh bear with me matt i'm gonna read the whole thing and not just like the

juice of it but like it's it's a like satoshi realized this like a month in probably even before he launched bitcoin but like this is like matt says like it's designed to pump forever it has this inherent feedback loop this incentive system that drives this stuff so here's what satoshi said and replied to a gentleman named sep hasselberg again on february 18 2009 it's a global distributed database with addition to the database by consent of the majority based on a set of rules they follow here are the rules whenever someone finds proof of work to generate a block they get some new coins the proof of work difficulty is adjusted every two weeks to target an average of six blocks per hour for the whole network the coins given per block is cut in half every four

years you could say coins are issued by the majority they are issued in a limited predetermined amount as an example if there are a thousand nodes and six get coins each hour it would likely take a week before you get anything. To Sepp's question, indeed there is nobody to act as a central bank or federal reserve to adjust the money supply as the population of users grow. That would have required a trusted party to determine the value because I don't know a way for software to know the real world value of things. If there was some clever way or if we wanted to trust someone to actively manage the money supply to peg it to something, the rules could have been programmed for that in this sense it's more typical of a precious metal instead of a supply changing to

keep the value the same the supply is predetermined and the value changes as the number of users grows the value per coin increases it has the potential for a positive feedback loop the users as users increase the value goes up which could attract more users to take advantage of the increasing value like satoshi said this a month and two weeks into bitcoin's existence he got this feedback loop with users being at the crux of that users going out to get more users into the network and that's exactly what we're seeing right now as matt said now at a completely different scale um 100 it's a completely viral positive feedback loop and uh i think it's funny because

um it's not just that i mean it's also the fact that it's really fucking scarce probably the most scarce asset we've ever seen in human history um definitely is definitely and and it's what people don't realize this is not just the 21 million cap it's the fact that it's so hard to change that really gives it its value this thing is designed to pump forever and the funny part is is that i was on that grind this morning so i fucking tweeted it out i get shit about it at the top of the market i got shit about it on the bottom of the market i i i literally have a screenshot i i mean i i have the tweet no one's deleted shit yet they will they will 2019 they are going to delete it but at the bottom in 2019 at 3500 i said bitcoin's designed to pump forever

people told me i was irresponsible was it irresponsible was it irresponsible to speak my mind on what i believed prior to a 10x to two years later i don't know if it's irresponsible i you know and i i had someone who i thought was a friend on on the twitter platform i'm not going to call him out by name uh but you have the one i'm curious i'm curious who is ben de francesco uh on twitter i muted that guy quite a while you muted him okay he told me in 2019 that i was irresponsible um saying that uh bitcoin's designed to pump forever at 3500 at the fucking bottom in 2019 january 2019 that was irresponsible and then i dunked on him a little bit today and he said it was still irresponsible it was irresponsible then and he stands by it it's

irresponsible now and congratulations that i got my little internet points that's what the shit corners don't understand it's not about the internet points the internet points can be gamed the pumps of the world have shown you that they can just fake all the engagement numbers they want to fucking fake. I don't give a shit about internet points. What you really lost out on, Ben, is fucking sats.

You lost out on real world points. You lost out on the most true points that have ever existed. Now your descendants are going to forsake you. Or you've forsaken your descendants. Well, the funniest part was it was a response to Udi who said that it was not allowed

so i told him to have fun staying poor because he could take it uh i mean again like there is volatility the price goes up and down that's obvious it has done that bitcoin has done that the price of bitcoin has done that throughout bitcoin's history and again like i mentioned like this there's this inherent feedback loop that is built into the system that makes it so bitcoin is designed to pump forever like i agree with you matt like as long as you don't get wrecked along the way you have to just be careful that like at any point there could be like a 50 you can wake up in the morning to a 50 percent uh a correction you know or whatever dump uh that's not real as long as as long as you're holding your shit you're only holding your own keys you don't

have any liabilities and you can hold the line you don't have to worry about it then it doesn't matter to you right and that that's where every big corner needs to be um otherwise you will get wrecked you will get wrecked eventually i agree yeah risk management like like just be long and long-term thinking you gotta think long-term with this like again this isn't you're not getting in this to cash out back into cuck bucks you're getting in this for freedom and to increase your purchasing power and sats uh over time marty i want to jump into a thought that i've been battling a little bit lately um one of the things that i thought was so cool about bitcoin is that it's like an opt-in revolution um if you're like a bitcoin hater and you just choose not to

participate like that's fine by me like it doesn't it doesn't hurt bitcoin um it's opt-in you get to choose if you want to participate right and then so that's cool that's like one of the cool parts about bitcoin to me it's like if you're not a bitcoin it doesn't matter to you and then if if you want to opt in you can opt in you have the choice to opt in and i think that bitcoin deniers are basically anti-choice um they like they don't want you it's like it's like this idea like if you have better money people will choose the better money so the only way to keep them on your shitty money that's designed to dump forever is to not give them the choice and like that's their stance and so they can go fuck themselves but it's cool that it's voluntary right that we we've always

had in the bitcoin movement it's like a voluntary movement a voluntarism movement my issue is recently i i've come to the conclusion that you're born short bitcoin and like if you don't repent and you don't start trying to cover your calls uh you're gonna get wrecked regardless like like so we have like a bunch of people that literally the default is that they're short bitcoin if you don't own bitcoin if you're not actively accumulating bitcoin if your car is younger than bitcoin then you are short bitcoin all of a sudden it's not a voluntary movement anymore all of a sudden we have billions of people that are about to get wrecked because they don't own enough bitcoin none of us do um how do i level that how do i level that like well at some point it doesn't at some

point it does become opt-in right because it's so saturated and people demand that you give them bitcoin sats for their goods or services like they won't accept cuck bucks or anything else at that point i think it's opt-in in the sense of like you can decide whether or not you want to buy that good uh it depends on how bad you want it or need it um it's often in that sense but no like at that point it's not opt-in it's if it's being demanded you're sort of forced to to deal in sats kind of a game of survival right like it's like if you don't opt in it's like technically it's opt-in right now like if you don't opt in you're gonna get wrecked like you're fucked like if if if if you want your family to have any kind of decent future

like you need to opt in so here's here's here's how you differentiate between like the traditional system which is an opt-in like you're forced to do it in bitcoin yes individuals may be forced to purchase sats to purchase good and services or acquire sats and purchase them but that so the the forced nature of our current system is sort of dictated by the system right it's dictated by the government you have to pay your taxes and dollars uh you have to deal in dollars in the system like you're just forced to that's the system forces you to in a bitcoin world it's the users of that system that are forcing you to right it's not the bitcoin network saying hey i demand that you pay in sats it's the users of the network saying hey

i recognize that this is a better money and i want to acquire better money so therefore i demand that you pay me in sats it's not being dictated by the network it's being dictated by the users of the network no but that's not the demand i'm talking about right because because that's different that's fine that's currency competition right you just uh and this was something i realized with gg when i had him on dispatch that i i didn't realize non-americans didn't they i didn't realize non-americans had no experience there where like if if i go to another country uh maybe not as much now because of the euro but historically like the dollar was just accepted everywhere like we could just like throw our dick around they prefer to get the dollar um over whatever their

local currency was you like almost didn't even need to convert in some places if you didn't convert you got a better conversion rate if you went to the individual merchants and you were like i'll pay you in dollars instead of pesos or whatever um so that's something americans realize and that's obviously going to happen with bitcoin but there's a different phenomenon happening right we're repricing the world in sats and if you're late to to to be a part of that revolution of the world being repriced in sats like you're going to get the shit end of the stick right so it it is bigger than just an individual merchant client in relationship right like merchant customer relationship this is on a macro level every single asset that's on this fucking planet

whether that's our favorite chrysler building or whether that's a piece of apple stock is getting repriced in sats and if you don't get on board that train sooner rather than later you are you are going to get hurt like you you will lose wealth you will lose wealth if you're a billionaire if you're elon musk and the majority of your wealth is in tesla stock and other fiat inflated assets um that have historically been considered store values and and we reprice the world in sats like you're gonna lose a large percentage of your wealth or because of that and then like i guess technically no one's forcing you to opt into that repricing right but it is happening and if you don't act you will get fucked yes and that repricing is a product of the aggregate of those

individual merchant customer relationships right like it's it's it's start again the macro starts in the micro right and that starts with those micro interactions between two individuals one of which demands to be painted sats i guess but it's weird because like so i think in like certain points in bitcoin history most points in bitcoin history um bitcoin evangelism was like necessary right like we needed to we needed to extend the base of bitcoiners we needed to extend um the amount of bitcoiners located around the planet in different jurisdictions and and and and and broaden our base broaden broaden the user base of bitcoin to make it more censorship resistant make it more robust more resilient um i almost feel like we're at the point

where evangelism when we're like trying to help newcomers like learn about bitcoin and and not get wrecked by shit coins and and not fall into scams and and and do it in and the so-called proper way um where it's almost charitable like i i don't we could bitcoin is going to take over the world we don't need a new any newcomers like we could we could take over the world right now just the existing stacking base keep stacking and the world gets repriced and sets like there no newcomers need to come in it's a different environment than historical bitcoin where we needed to you know bring in new blood new minds new energy i agree that's just part of the adoption but it changes the voluntarism

aspect of it right a little bit there's something there i mean yeah people are gonna have to bend their knee like like again bitcoin changes you more then we can change it like you just have to submit to its gravity it's got this gravitational pull on value that i guess you could say at some point it gets it gets to the point where it's not voluntary you're sort of forced to go along with this gravity right but but again it's not the system forcing it on you it's the individuals that leverage that system it's like physics yeah it's so but like compared so compared to like i would but even with that being said like the market is voluntary hitting the shelling point like whereas in the fiat system like you're

it's not voluntary at any point of the adoption current like you literally 1933 they confiscated gold and said hey you have to use this now and then 1971 like hey we're going off the gold standard you have to use this now like they didn't have the decision to to choose that i mean but it's a low bar right like if you compare if you compare fucking shit to like steak like obviously the steak's gonna taste better regardless of how you cook it right but like this like in 2017 when there was a bitcoin denier and they were attacking bitcoin and they were like it's a bubble and and like it should be banned and should be all these stuff my main go-to argument was you had the choice to not participate like you're anti-choice you're not allowing us to exercise our choice to

choose which money which protocols that we want to interact with what kind of speech we want to dictate like you're you're you're interact you're you're trying to interfere with that choice like what do you care if you think bitcoin's a bubble then let us be like let us be and go fuck yourself right um you have the choice to not participate the year is 2021 do people have the choice not to participate i think you either participate or die you participate or die marty right i don't think you're gonna i don't think you're gonna die but there are going to be consequences long-term consequences for not participating your kids and your grandkids are going to have trouble finding clean water if you do not participate in this in this movement am i am i being far

am i being extreme maybe a little bit extreme not on the grandkids maybe on the kids i think that's a little extreme oh my dog is really angry at me for this one it's fine no i think um no i i wouldn't go that extreme like again that's the beauty of switching to the sound monetary system in my mind at least is again you you reduce the amount of misallocated capital which arguably has led to uh the the inequality and wealth and and quality of the the uh gradient of quality of life that exists throughout our global society and do you actually invest in things that are additive to society and benefit everybody overall and i i don't think anybody's going to be standing under the citadel waiting for the dude from mad max to let the water

um rain down on everybody that's not i don't think that's the future bitcoin brings i mean i don't think they're going to do it in like a waterfall fashion but i think like you know some people will be drinking out of the communal water pump and some people will be drinking out of the citadel water i don't know i think i think the nature of um bitcoiners being problem solvers will will help make it so that uh uh we'll have plenty of water for for everybody that comes on this planet i'm confident that like especially if you go to space and like we can fucking find an asteroid with a bunch of fucking ice on it bring it back down my dogs are very upset about my logic they're trying to watch the sunset looks fucking beautiful there dude we're like literally three topics into a

let's go next topic i apologize for derailing it i wanted to have that conversation i was curious it's it's been messing with me because uh recently now that caps odell's on sat squeeze it's like you have no choice like we're squeezing you so so i've changed i've changed my narrative and i'm just trying to wrestle with it to help bring any context to this for you or no they have no choice they have to participate otherwise their grandkids are going to be thirsty okay we're that's we'll see we're gonna see how it plays out uh grayscale premium went negative this week that was very interesting first time ever second time ever maybe the second time probably this is the first time that grayscale has ever not had a premium yeah and what so that's like the question ever gone

negative so it's it's it usually ranges between five and forty percent depending on where the price of bitcoin is and demand from institutions went negative this week that's what people are asking like why did the demand go negative do you remember i was talking to you and i said if an etf gets approved gbtc goes negative and you're like probably not negative it'll probably hit parity yes i am recalling that now it was like two weeks ago and like it like just happened uh there hasn't been an etf yet and we're already negative so i think if there is an etf we will definitely be negative i think this is probably because there's a bunch of gbtc clones that are about to launch um that all have expense ratios lower they have all management fees are all lower

than um gbtc they all undercut gbtc because gbtc is you know the elite the the number one uh fund i mean so barry barry and crew i was gonna say barry and crew have made a ton of money off of gbtc i don't think they're crying i don't think they're crying poor or anything like oh no they have 700 000 bitcoin locked up in that shit um so so yeah so i i think it's it's it's probably a common it's a common it's a three-way combination you have you have these gbtc competitors there's like three of them now um that have recently announced that aren't out yet that all have cheaper management fees so everyone's expecting the management fees will be lower um for those and why would you hold gbtc if you're going to hold an equivalent that has a lower

management fee um gbtc doesn't even do anything special in terms of custody they just like leave it with coinbase custody um the second thing is probably people expecting an etf because every bull run people expect an etf right so that's going to hurt the premium and then the third thing is three arrows capital um fucking semi shit corner chads over at three hours capital uh went hard on the arb opportunity uh that gbtc presented and so did block fi um and that takes about six months for them to go through that full arbitrage process and i know for a fact that three hours got through it i don't know if block fi got through it but three hours did and they probably uh just like you know pulled out their profits on that bringing down the premium that's exactly how it's

designed like that that's the idea is that people can in the know can arbitrage through it to bring down that premium to make it more of a proper market instead of like like gbtc isn't supposed to be trading at 30 percent uh above bitcoin it's supposed to be trading near near the equivalent but i think this is the the new normal the new normal is going to be gbtc trading at a negative uh rather than a premium because i'd rather hold bitcoin yeah i think barry and crew squeezed all all the juice out of that lemon good for them well they still get the management fee even if it trades out of negative they get the management it's true they get that two percent um i would add one more factor probably significantly less of a factor than the three you just mentioned but

also um these these stocks that allow individuals to get somewhat exposure to bitcoin like master you know micro strategy is a competitor to gptc in a way yeah um i mean if you look at their market cap it's like mostly bitcoin now yeah you're like being heavily driven by bitcoin it's like it's It's like 95% of their market cap is the Bitcoin holdings they have. Yes. No, no. Speaking on this tip, let's segue to this topic, which is the fact of the California pension fund, CalPERS. Pretty big pension fund.

One of the most talked about. Largest in the country. In the country. If it's the largest in the country, it's probably largest in the world, to be honest. But I don't know that for a fact. Yeah. And I mean, the CalPERS specifically, CalPERS, Illinois Pension Fund in New Jersey are three of the people most talk about the most as being like severely underfunded and having like terrible returns. And they have to like outpace the S&P significantly moving forward to hope to be able to pay out all the pensioners that they owe money to.

so they have um again like i mentioned like stocks is a one way um to get a derivative exposure not like a derivative product but like tangential exposure is probably a better word for it to bitcoin and calpers has been buying the stock of riot riot blockchain which um is is a minor here in north america and i'm looking for they're the largest by capitalization i think right so i think are the largest publicly traded miner on in u.s markets yes in u.s the california might be bigger than them in canada but uh i think here in the u.s ride is what hud eight you said is bigger potentially i believe so but they're in canada right so right it's the largest in america for sure um and publicly traded largest in america and california pension fund is 450 billion almost

massive massive pension fund um and they've they've gone a bit ham on uh on bitcoin i think it's uh what did i say it was like eight million dollars worth of riot or something like that yeah i'm looking i'm actually like on the page right now so they added 2.3 million dollars with the riot yeah 113 shares 113 000 shares yeah 113 000 shares they added 1920 shares since their last public report um most bullish fundamental riot blockchain is that pierre is on their advisory board it is very bullish like i've talked to the guys i've spoken to guys at riot too yeah they have very interesting backstory very tumultuous backstory pivoted from a biomedical company went through some trouble with the sec but they have righted the ship and gotten um

responsible adults on their board who are actually running a legitimate business now um in a mining business so they're they're mining here in north america i mean you've probably seen them in in the news and the the bitcoin space has been buying a shit ton of bitmain asics um and so yeah they should be plugging them in throughout the course of the year and yeah the mining stocks like them marathon uh hud aid up in canada uh bit farms up in canada um have been like some of them have been outperforming bitcoin uh year to date i'm pretty sure i don't know exactly which off the top of my head but i remember at least at one point this year some of the mining stocks were outperforming the corn yeah i mean i mean

the markets the the regulated equity markets they want exposure to bitcoin and they don't have the exposure to bitcoin uh you know um the the powers that be are completely happy with uh robin hood and citadel manipulating markets but god forbid we have a bitcoin etf so until that happens we're just gonna have all this shit show happening and um you can blame our regulators for that uh because there should just be just a simple exchange traded products that that that own bitcoin so you don't have those fucking bullshit going on but the key thing that that that the freaks to take away here is that the largest pension public pension fund in america is short bitcoin and they're trying their best to cover those calls so uh keep that in mind sat squeeze

sat squeeze i'm loving all caps matt okay caps odell caps odell let's go caps odell caps odell We just got a shout-out from Blockstream from our comments on JadeWallet. It's really interesting to see ourselves in video form coming on a tweet from Blockstream. Sorry for checking my notice during the show. Wait, they tweeted us out? Yeah, yeah. Look it up. Ah, so cool.

Did you have that on the list? I don't think you had that on the list. What, Jade? No, not Jade. The Blockstream satellite streaming out the source code. What are they streaming? they're streaming out like bitcoin core code so you can as an individual like you can receive instead of having to download from github or i didn't know that yeah i wrote you haven't been

reading the bent you've been up in the woods breaking around dicking around so yeah i guess i'm breaking this news for you um this is why i listen to rhr marty i listen to rhr so i can get my my weekly news yeah so uh we obviously we talked about it last week and potentially the week before when uh vladimir one of the lead maintainers of core basically came out after being subjected to a lawsuit from craig wright over the hosting of the bitcoin white paper on bitcoincore.org that caused like a huge hoopla like oh my gosh if um if like are these bitcoin.org bitcoincore.org specifically in github also third in there are they centralizing factors of the distribution of the code and information about bitcoin core and the products of of that event

and conversations around i've been like hey maybe we should distribute the social layer below the bitcoin protocol level more we need to torrent the white paper and the source code in in as many places and allow individuals to access the code via as many avenues as possible and block stream announced two days ago that they are now streaming uh the bitcoin core source code to the world via their satellite and that the beauty of that is like it's crazy private because like instead of going to bitcoincore.org and downloading the code from there in which if you're not using vpn or tor they can see your ip not saying that the bitcoin core is looking um at your ip on their website but like it's possible that you can identify ip and sort of say hey this ip is running

bitcoin core um let's go knock on their door and tell them to shut their node off with the satellites push only so they they're literally just streaming it via radio waves to the earth and if you have a satellite node set up or a satellite receiver set up you can receive the force code to download a node and blockstream literally has no idea who's actually taking advantage of this functionality so this is it's a one-way transmission one-way transmission extremely cool but i think massive um for um for the the robustness of the network and how people access it i mean i don't know much about it except for what you just told me and i appreciate your concise explanation um that does seem pretty cool i uh i think the satellite's pretty cool in general

i really like their little circle video thing they did right that's pretty cool we have to learn how to do that we have to do better at our video integration blockstream freaks who are listening please please help us but uh yeah i mean there's something to be said i mean the cool part about bitcoin is that you can get you can you can get it all from a single source and you can verify it that it at least follows your consensus rules on your own node uh in a trust minimized way which is unique to bitcoin um not so much the source code but at least on the the block data which is is is is the main reason for the the block stream satellite is that they're sending out this block data constantly and you can just verify that based on your rules now they

could be making up shit but at least you know it follows the rules right um and that's unique to bitcoin and pretty fucking cool yeah so shout out to block stream and i'll tell you i'll tell you as someone who's been a bougie homeless person um in a nomad a nomad i want to consider you homeless bougie homeless i don't have a home i don't know where my home is like i can't say home it doesn't exist uh i think you have a home i have a home i have a home my my my family lives somewhere and i can go live with them um i there's a lot of people man that have poor internet connection they have like really bad internet connection and the fact that you can just throw up a satellite and just fucking receive something that would otherwise be heavy bandwidth

and then get the extra privacy benefits from it um is really massive and then you can do like low bandwidth checks on it using like third-party explorers and stuff um to reduce that trust and and it's a really really beneficial thing to someone who's living in rural america um i know in other countries like you just have like fantastic cell internet everywhere you go um but like as someone who's trying to stream like high bandwidth fucking information to people on a weekly basis like it is not easy finding a place that hopefully has a hard wire but if they don't at least has some kind of like cell like cell connection that i can can do it through that instead right like right now i'm going through my cell phone um and it's like the bare

minimum it's the bare minimum it's not something practical like if i want to run a full node constantly yeah not dude where i am the internet sucks on the island am i it's fucking infuriating it's like it's 2021 i'm in fucking new jersey in the united states and like we're just beholding to Xfinity here. It fucking sucks. Well, I remember pre-pandemic that I was in midtown Manhattan and we just had internet outages

for seven hours because Comcast is so horrible in our office. We're paying them for a corporate fucking account, paying them hundreds of dollars a fucking month in the middle of supposedly

the financial center of the world and we would just go out of internet for like six hours. so i i i think these like these redundancy systems are vastly underrated and it's important that we have them and none of these shit coins have this shit no none of they don't even think about it they don't even consider it right they don't care because they don't care all they care about is taking your bitcoin from you and holding it themselves they don't give a shit about any of this i've had it yeah people have been asked like well fuck it let's bring it up another

uh he's bringing it up another thread from years ago that you were a part of that was brought up was uh vitalica being happy about the normalization of quote-unquote small pre-minds he legitimized small pre-minds he's proud of it and that's like 70 it's like it's like the vitalic playbook like take something that's been done before and then like literally claim it as your own even if it's something terrible well no i agree with vitalik that he legitimized pre-mine no he didn't it was happening no he legitimized 2014 that's one of the reasons i hate ethereum is that he legitimized him he made it seem like it was normal the the ico craze and everything like before ethereum existed dash dash was normalized dash was normalized at one point if you did a pre-mine you were pariah

like people didn't they were against it even on bitcoin talking shit early on they were against it until ethereum ethereum set the precedent they were like we're cool with premines we're cool with icos here we're gonna do icos and shit like even counterparty counterparty was an ico burn like they burned all the money they didn't keep the money that money is worth billions of dollars now probably like an insane amount of money that they just burned because they were ethically conscious and then you just have like the non-ethical just come in uh we got bitcoin 2.0 and they'll they'll send you a sell you a fucking bullshit kickstarter about it and they'll pre-mine the shit out of it and they'll give you 30 of the pre-mine in the sale and they'll keep the other

70 and defining a 72 pre-mine as small as is very perplexing yeah it's for me at least to me at least this is a bitcoin podcast we're gonna go on dark net markets hit new all-time high in revenue according to chain analysis so is revenue is that being like they're benefiting from the price appreciation US dollars

I just misspoke a tiny bit I mean they can still go fuck themselves it was a 70% pre-mine they didn't keep 70% of the pre-mine they sold most of it yeah they kept 12% for themselves they kept 12% of the 70%

and then the 30% has been mined over time but they didn't want that to be mine they wanted it to be proof of stake insiders and they've just failed they tried so i just wanted to correct the record there that's the difference between me and the shit corners is that i got a little bit emphatic and i corrected myself right away um well thank you what was our next topic uh revenue dark markets chain analysis archive link let's go check it out um matrix chat client no no following this before we get here let's just go back to the dark market i think this is bullish this is why i put it here i think it's the most it's one of the more important fundamentals that people disregard i think if you can't spend your

money at will it's not good money um i think one of the key value props of u.s dollars is that you literally can spend it on drugs and whatever the fuck you want to spend it on uh it we wouldn't be the reserve currency otherwise um you know they don't want to talk about it but the fact that the u.s dollar is the main currency of cartels the main currency of terrorists like it is a thing like it is real like if you have good money you should be able to spend it how you want to spend it um one of the interesting things about this report is we've talked about in the past the number one market is hydra which is the russian market where they do the cool they don't ship it they just like put it under coordinates and they like tell you it's like under this bench on these

coordinates in moscow which is really fucking cool the second thing that's interesting here is that they just completely disregard white house market which is the the the number one growing market they're not the largest market hydra is probably the largest market and they are monero only and they just completely disregarded that so it's probably way higher uh in terms of revenue than they they they stated yes very interesting fundamentals and like so i'm like going through the report now russia's number one u.s is number two china's number because hydra's number one for ukraine yes so russia u.s ukraine i'm surprised to see shouldn't be surprised to see china on this list but presumably the hydra consumers are are they're like high

level dark market consumers and then they spread out amongst the world after right so it's like almost like hydra's like the you know it's like the top level distribution but then like there there's a there's a potential and most likely is that the consumers on hydra are then the dealers on other networks right that wouldn't surprise me yeah that makes sense um so beware freaks dark net market's very hot right now another interesting fact from 2019 to 2020 uh the number of transfers sent to dark net markets went down considerably by a few million but the the value of those transfers went up and that that's what i was like is that because of the price appreciation in bitcoin or the number you can't you can't you can't go by number of transactions number of

transactions you know first of all they're not including white house market right which is monero only um and you and you just can't you can't go by you know first of all chain analysis does not have a perfect view let's be honest right they're going to pretend they have a perfect view they don't have a perfect view on it um but yeah year over year went down it's still higher transaction number of transactions is still higher than every other year and total revenue it's the highest it's ever been yes so it's like kind of like a it's a takeaway i guess but it's like kind of a bullshit takeaway like i don't think it's like a real um it's not something you can really act on i think the main thing we can act on here from an information point of view

is that the dark markets have increased in value regardless of all the every everything that they've tried to do to stop them all this enhanced kyc everything that the honest law-abiding citizen has to fucking deal with all this extra privacy risk they have to deal with has done fucking nothing the dark markets grow they grow stronger they grow bigger every fucking day um yeah and and like those are proper free markets like i'm not gonna go farther than that but those are proper free markets and they they grow every day and and all this kyc shit is just all bullshit that doesn't really slow it down at all agreed i'm not gonna i'm gonna agree with you there we're an hour and 34 minutes in not even at the software updates yet

it's a ridiculous week list though yeah uh this is so google removed a a chat app an open source chat up from their massive and like no one really talked about it from their play store yeah this is pretty pretty fucked up so matrix is a if you listen to this the dispatch this week we talked about self-hosting and federated uh networks um and matrix is one of them so it's a distributed censorship resistant chat network um so think like slack without the company right on uh self self-hosted servers that can interact with each other that are censorship resistant and it's a protocol just like mastodon is like the freaks might be more comfortable with mastodon which is a twitter clone that is federated and self-hosted

same with matrix um so you can almost think of matrix as like the world wide web right element is a client that interacts with matrix it's the most user-friendly client that interacts with matrix you can get it on the google play store you can get it on on the website for your desktop or you can get it on the apple app store google removed it from the play store it was it's and they moved removed it from the play store because of objectionable content in the chat rooms that they have no idea what's going on in the chat rooms um so it is it is the equivalent of them removing like a web browser and saying like if you use this web browser you can go to wikileaks.com or something right yeah and it's an escalation from them de-platforming parlor before parlor

got de-platformed from aws it got removed from the app stores right and it's just another it's just another case where we see an open source app with an open implementation an open network that is censorship resistant get removed from the app store and i think that bitcoiners should realize now they should they should start to understand that we cannot rely on these centralized app stores to facilitate our software downloads they are going to come against us uh eventually if they if if not soon it will happen eventually get your pixels wipe them and get graphene again just the nature of linking up to rona dojo i've been messing around my my pixel with graphene on it and do it before you need to i mean the freaks know that i'm super pro graphing and the coolest

part about graphing now is that you can use this web installer so it's way easier like um i do honestly believe that that our tftc guide series on graphing is the easiest way to install graphing prior to this but now that this web installer exists you don't even need that you can just do it all through chrome um and it's way easier that is obviously the pinnacle you just completely remove google from your services but it's important for people to realize that just your stock android phone you just have like a regular samsung phone or a regular google pixel or whatever like you don't need to use the app store like you the play store you can just side load you can install an app on the side and that's super important uh that's something you've always

been able to do on a pc that's something historically you've been able to do on a mac it is getting harder on a mac but that's something that we need to fight for like you should always be able to just install an app separate of whatever the curated store is and if these providers start limiting that we need to fight even more

and I think the biggest fight is going to be on the Mac side if you own a Mac you should be able to install whatever application you want to do and right now what they do is they throw up a shit ton of warnings they make it as difficult as possible to install it but they let you do it

but it's going to get harder and harder They're going to try and centralize, squeeze us in terms of what apps you can install and whatnot. And Bitcoin can survive. Like, if you want to install Blue Wallet on your Android, you can just download the APK if they ban you or Samurai Wallet. But it's going to significantly hurt us in terms of ease of use and adoption. So we've got to fight back, speak up. No, like Ronan Dojo, I had to fucking go into my security preferences and be like, I trust this software. Yeah, Mac makes it really difficult.

They, like, scare you. They make it seem like it's like a virus, like Russia's attacking you. Yeah, yeah. Be vocal. Liberty in the digital age. This is the fight we're fighting, freaks. We get these oppressors stripping away our civil liberties on the web, or we build out these open source software systems that allow us to retain our freedom,

our sovereignty our individuality and in the digital age this is why we're here speaking of software that enables all this finally at the software updates section of the podcast zeus version 0.5.0 beta 1 has been released that apk uh link will be in the show notes bisque version 1.5.5 has been released hexa wallet version 1.4.2 has been released phoenix version 1.4.6 has been released uh there are a few guides uh or two guides that that popped up on our radar this week the home mining for non-kyc bitcoin from econo alchemist is a really good one uh it's really in depth and uh i had fun watching him create that little wooden box that that sound canceling box for his what's minor um and then creating a whole like piping system for the heat

uh to send it out out his window very involved very very long weekend project i expect is the noise yeah the sound the decibel levels like he held up like one of the like the noise that i think was like 85 or something like that which is insane um yeah so that's a guide where you got that link in the show notes if you're looking to acquire non-kyc by mining at home and you're willing to stomach the the energy consumption and the price of that electricity this guide is in the show notes and just to be good just to be clear like like if you can if you can get kyc free stats through mining at home like i would take a 20 hit on that at least i would easily take a 20 hit on just like automatic stacking every day no matter what kyc free 20 boom i would

take it and there's like a novelty to it too right like you have your friends over like who look at my little Bitcoin option, my physical Bitcoin option that's just producing sats for me on the rig. It's hard to ignore. It's very loud. Yeah. Well, that's why it was really cool. I mean, like, I'd be interested to see, like,

how many freaks could actually make the box that he made. Like, if you look at the video of him cutting the wood and, like, putting this box together, it's very, like, it's crazy, like, how he had, like, the different size, like, pegs. yeah i mean the easy easy mode is is you don't like live in a confined area so you can just like leave them in a room that you just never go in right you know like that's easy mode like easy mode should just be um like i'm one of the few freaks that have mined in a fucking studio apartment

in new york city that fucking sucks like there's no solving that you're never gonna you're dealing with that that is cope you're just going to automatically deal with that but like if you live in like a rural environment um you can just leave them in the garage or whatever put a couple asics in your garage yeah that's what i'm just like the fact that the box is wooden too like i wonder sure i glossed over it he addressed it in in the guide but i wonder if that's like a fire hazard having that that machine so tightly wound i mean it's not like regulatory compliant i promise you that yeah no uh second guide second guide that we want to point out is uh from our boy katan down under and he's got a self-hosting guy just uh walking you through his

stack of how he self-hosts um his his operations his um his hardware what he what he runs is he He self-hosts his data, his Bitcoin nodes, all that stuff. He runs Mastodon. He runs a full Twitter clone from his house. Yeah, it's possible. His website, k3tan.com, hosted from his house, self-hosted. That's my goal, is to get our ghost self-hosted. No, that's not the goal.

It's my goal. It doesn't need to be. There's levels to this shit. I, I, I mean, I, I appreciate the goal. You go for it. Go for it. I, if you haven't listened to the dispatch this week, I, it was with Catan. I had Catan on and we discussed the self hosting guide. So go check it out. Go peep it. Go peep it freaks. Um, yeah. Getting through this list.

But my point is, I guess my point is, is like, there's an argument to be made, right? Like Rodolfo runs my instance on on right i thought he wound that instance no he's still running it and like i'm on his instance and we can interact with every other instance right and if he wants to fuck me like he's my boy like if he wants to fuck me like then we'll have issues as friends and like i'll be angry about it on the podcast and shit and like it would probably like hurt his business a little bit you know like so there's there's arguments to be made that there's there's self-hosting is obviously the the the goal the ultimate goal but there's trade-offs to be made in that situation i can't self-host right

now when i'm just going from place to place like i can't do it like i just literally can't do it what's the worst that could happen if someone else hosts me they can like cancel me and then i can just emerge somewhere else right um so there's obviously trade-offs in every different place but it is pretty fucking cool that he can run all this shit directly from his home and he just wrote a guide that shows you how to do that. Yeah. Shout out to our

boy Katan. Excuse me, I just burped. Just burped into my hat there. And there's a burp in there too, from me. Coinbase, they're trying to IPO looking at a $50 billion valuation.

Way higher. They're going to be way higher. Yeah, they're going to pop. and they're gonna pop talk about stocks that give you give you exposure to bitcoin i believe you're listening freaks if you can buy that shit under 100 billion dollars it's gonna be worth it but don't i hate that company but i think they're gonna be they're gonna go way higher there's gonna be a fucking ridiculous ipo absolutely like you thought beyond meat was a big one like wait wait till coinbase goes yeah so this is um from one of our favorite publications the block crypto from from the scoop master would you see dudas changed uh

he's a new company now he's in the stable coins right a regulated stable coin the most uh a man has faux principles no i mean regulated stable coins are beanie babies before they happened you know like i don't even know like what do they there's no need for them no especially like regulated corporate stable coins like you're just gonna get overridden by the central bank ones like from like avanti and shit um so like what do you like why would i use you over paypal why would i use you over avantis whatever yeah so coinbase is doing a direct listing i'm sorry i'm reading this i'm trying because because i heard a rumor that like the listing was happening like in the next few weeks is that i think they're trying to speed it up as

much as possible everyone wants to get uh they see that the u.s economy is in clown world mode right now and they're just trying to get that bang for their buck as quick as possible that makes a lot of sense so like as far as every single coinbase investor is concerned i promise you that right now in behind the scenes conversations they're like let's get this done as soon as fucking possible which is really fucking funny because if you were a bitcoiner focused company you're like we need to wait a couple months like we haven't gotten started yet like we're getting ready like like things are like happening but they're just so low so high time preference and so like short short-term thinking that they're like oh my god we just

need to fucking cash out right now before like we get hit with security violations or you get hit with all this shit where people realize defy is just bullshit like all this shit though we got to get it fucking done yeah i'm sure fucking a16z and all those aero sequoia all those early investors are like putting the pressure on like we oh we need we need to cash out some of that official uh funding for you like let's get on ipos are wild right now man like airbnb airbnb went fucking crazy like all the ipos are going fucking crazy this is what people these are product of broken money like this is ridiculous this is a ridiculous idea like people think like oh wall street bets like all this shit happened like we need to tokenize securities like

it's fucking ridiculous like people shouldn't have to fucking gamble in the casino to have their their their grandkids have clean water you know like that's ridiculous thinking of how fucked up and how far we strayed where people are more focused on the stock of a company than actually what the company produces or like they're more focused on these games than actual things of value right you're just focused on this little casino market over here and they're not even thinking about like what we're producing in the real world like the stock market it's all the broken money it all comes down to broken money if we can just hold our money and we're just increasing value we wouldn't we could just opt out of these things we wouldn't have to fucking deal with it yes and

speaking of broken money the broken money is leading to inequality and the fed is actually starting to admit this they're they're admitting that their policy is actually racist to an extent because of the cantillan effect that that benefits um people with assets which in this country happens three predominantly uh people of our race matthew um the top 80 percent um have been benefiting from fed policy directly so i'm not gonna read the whole thread because the paper's called um the paper hasn't been released right we only got screenshots on twitter yeah i think we got a leak of it um i don't know it's it's out uh read the list so matthew shout out to uh matthew hanzelka at m-a-t hans h-a-n-z um on twitter uh read the latest from federal reserve on monetary

policy and racial inequality so this is public i believe on the fed's website so yes it comes from the federal reserve of new york um federal reserve bank in new york excuse me monetary policy and racial inequality it sort of dives into uh the the inequality that exists and may be driven by this this fucked up money system that we have that that benefits those closest to the production of money uh closest to the fed window closest to the spigot um so we're going to link to that uh thread in the show notes go check it out i mean we've been saying this i've been saying this for quite some time like fix the money fix the world the the problem at the core of the Inequality is not red team, blue team, left versus right.

It's the fact that we have fucked up the money and that is allowing very few individuals to benefit unduly compared to the rest of us. So go check it out. The Fed is racist. The Fed is racist. The US dollar is racist. Yeah.

Bitcoin just wants to... we just want bitcoin just wants to help let bitcoin help anybody can access it doesn't care if you're black white it is pretty crazy that they released their own paper that was just like we are just unequal right well maybe are they even trying like why don't they just hide it from us like why i when i grew up when i grew up i grew up in the 90s and and like the fed was just supposed to lie to us like we're the greatest country on earth and we're just you know helping equality and we're just making things better and our money is the best money that has ever existed you know like that's what i grew up on what's happening like why how did this happen

it's good to see some introspection you know maybe there's been a turning of the tides uh turning of hearts and minds at the federal reserve maybe they're starting to question whether or not they're actually doing good for the world which arguably they definitely aren't doing good for the world i would say it's weird though i'd prefer if they lied to us you know like it just why like the truth the random little truths are weird you know right be consistent i'd prefer people were consistent well this is like that's the other thing this is so this is from the specific federal reserve bank one of the 12 the bank of new york and their staff bank and i bank bank and i if you don't remember last year i believe it was last

year potentially the year before uh we talked about uh the federal reserve bank of philadelphia and their staff putting out uh the paper that wanted to what was the the phrase um we actually give them like a little bit too much shit like they they're more distributed than you would think they are like the the the federal reserve banks it's it's kind of cool that they have all these different uh subsets that all report different things right yeah what was it um what was the fed bank affiliate they're saying they want to something locate um they're basically just saying they want to micromanage the economy and something like a report like a philly team would never win a national championship unless we printed money or something according to those

lines no no it wasn't that it was what that it was uh god i can't forget i can't remember the term i talked about it with chris arnade when he was on the podcast last year also short bitcoin chris cover your call get in the game chris uh jared dylan jared dylan short bitcoin cover your call yeah um who was the coyote guy coyote guy ben hunt ben hunt short bitcoin cover your call very short bitcoin short monetarily and uh spiritually you need to get on all those guys Mike Green, Prof Plum. Short Bitcoin, cover yourself. Did you see the POM debate with him?

Barack Obama, short Bitcoin, cover yourself. Elon Musk, short Bitcoin, cover yourself. Billionaires everywhere, short Bitcoin, cover yourself. Every single blue check is short Bitcoin. And we're going to squeeze the fuck out of them. We're going to build a better world. We're going to build a better world. And every single blue check is going to pay for it.

Do you think our Canadian blue checks, Francis and Rodolfo, are short? bradova called me out because he's a blue check um he could try but it's impossible to be sufficiently long bitcoin so he is also short bitcoin and fuck you every blue check is short bitcoin and we're going to squeeze the fuck out of them there's something like 37 millionaires in in the world only 21 million bitcoin all those motherfuckers 37 million millionaires and they're not going to be able to own one whole bitcoin the squeeze is going to be fucking insane and everyone's going to pretend like it was obvious

after the fact joe's going to be like joe weisenthal is going to be like it was priced in at like 2016 and like we all knew and it wasn't it wasn't fucking priced in you can get in now still and we can get in ahead of time joe just submit me the efficient market hypothesis has been completely invalidated completely invalid if the emh was real after the micro strategy conference we should just automatically be at sats and parity all right right yeah that's coming it's coming it's coming we're gonna be 200k by should we talk about bitcoin 2021 let's talk about elon because that was a big elon's elon's boring to me he's he's like i don't it's important it's important it's the richest man in the world richest man in the world is learning

about bitcoin live is he he's not learning he's playing with people he's like it's just like there's a there's a there's a he's not learning about bitcoin he's shit posting a little bit a little bit of it is shit posting 100 shit posting okay but he was on clubhouse he was on clubhouse it's all a show dude he said bitcoin's a good thing on clubhouse he said i have to be careful about what i say because i move markets he put a hashtag bitcoin in his bio okay he did shield dogecoin he can go fuck himself for that but honestly if i was worth billions of dollars i like like it's funny right because we're the people that have fuck you money so we shit post on twitter all day but then when someone who has the most fuck you money in the whole entire world

shit posts on twitter we fucking flip shits right and i i'm not defending his dogecoin shill because real people get hurt when you shill these bullshits right and and and i understand that elon loves that he can shill a dogecoin that is illiquid and it does not have securities uh repercussions like that is a game changer right this fact that and this is what i said earlier There's this fact that billionaires can shill Bitcoin and they don't have to worry about securities violations because it's not a security. Same with Dogecoin, which is weird because Dogecoin is very illiquid and is obviously a complete shit coin. He can get away with that. So I'm not justifying that.

But at the same time, like this motherfucker, he's just playing around. He's just like having a good time. But at the same time, he is really authentically learning about Bitcoin for, I think, for the first time. I thought he already had like a major bag, but the way he interacted with Clubhouse, the way he's interacted these last couple of days, like I think he doesn't have the bag yet. I think he's like very short Bitcoin and I think he's going to have to accumulate in the future. But it's very interesting to me having the richest man in the world be so transparent. Like when the richest man in the world was Carlos Slim or Bill Gates, like we didn't have this transparency, right? like we have this little child who's like shit posting to the world and we see it in real time

that's pretty cool yeah i'm calling bullshit i think he's just toying with you he has like a massive bag of bitcoin already yeah yeah i think he's toying with people how big is a massive bag for elon the richest man in the world uh i don't want to put a number on that i bet he has a thousand bitcoin which isn't a massive bag for him but if he has under a thousand bitcoin is he short bitcoin for how much for how many cuck bucks he has yes right if he doesn't if he doesn't have threshold if he's under 10 000 bitcoin you short bitcoin right that's another order of magnitude um well uh micro strategy has like what 70k i think that's like i think that's a fair threshold like if elon has less sailor has like 16 000 head company like like no one like micro

strategy is still like bitcoin has not mooned yet when bitcoin moons micro strategy can lay claim to being you know the most valuable company in the world but as it stands right now some random ass tech company that like their their their piece de resistance was the the fucking dot-com bubble where they were way worth they were worth way more if they have more bitcoin than you elon and you're the richest man in the world you're short bitcoin you have less than 70 000 bitcoin you're short bitcoin and if you're short bitcoin have fun staying poor hey you heard it here first yeah i think elon's just toying with people i think he likes the attention and i don't think so man i don't know man it just all seems to like yeah i think i think he just likes

fucking with people i just want if if any freak is realistically thinking about doge i just want you to know that each dose costs about 130 sats and that's very expensive i'd prefer the sats the other weird thing about like the elon clubhouse is like the nora link like having the monkeys play games that shit freaks me out i do not want to be chipped at the brain level yeah i don't know about you did you see my tweet bill gates is short bitcoin yeah of course he is good i want bill gates to die i want bill gates to to die poor you want to hear the inside the the inside baseball of caps odell is i'm just going to go through like every single billionaire i'm just going to tweet out in all caps short bitcoin sad squeeze so if

you want to preempt me you can do that otherwise i'm going to do it it's happening freaks well i'm sure by the time the freaks get to this point of the podcast you'll have listed every billionaire in the world i have them all saved in my draft tweets though so if you don't get if you don't hit me i can just do it in like two two clicks uh damn dude this list never ends it's a big it's a big week people don't realize we can we can just mention the story ukraine which has been very bitcoin forward a lot of really good companies have been out of there the the tech scene ukraine's pretty vibrant and we have a lot of developers coming out ukraine glenn uh nelmanco comes to mind uh very important bitcoin core dev uh the ukrainian government announced that they're

considering mining bitcoin with nuclear i think they have something like eight gig or excuse me megawatts of capacity that they could use to mine my bitcoin not like an extremely large operation but material it'd be interesting to see um if they actually make it happen uh it's interesting that they're publicly considering it if i was massive is it not yeah i mean it's massive that government's considering it but like i would have like launched the the um eight megawatt site eight megawatt site plugged all the miners and then announced it'd be like hey we're already mining so like these announcements are like we've heard these we may do this type announcements before in the past i wish i'd rather the problem with you but i have this other date yeah exactly

to all the freaks out there who got shilled a prom date and didn't get one yeah I was lucky enough to go to prom I got invited to a prom too it felt good proposed Bitcoin ban India again

it's been happened before this is real though bro it's going to go to the Supreme Court again though this is different than China banning Bitcoin yeah i mean this incited balaji to write like an 18 minute uh medium post on on why it would be a terrible idea for india to uh ban bitcoin at this particular juncture i think in that paper he they're gonna ban it peace they're gonna try they're gonna straight up ban it they're gonna

make it illegal to own bitcoin they've already done it before right but the difference it was last time so india second most populous country in the world technically a democracy it's kind of like a quasi-democracy to be honest um i guess we all are uh but like really in india it's like very much a quasi-democracy modi has been very very very um steadfast in terms of his power um the last ban in india was a central bank ban and the supreme court overturned it because the central bank did not have the right to ban it already right this time it's a parliamentary ban and the parliament it that is proposing it is the same party that has complete control of the parliament um and this is a country that has banned cash and like has made people bring in

their dollars uh their their uh indian rupees and and and exchange them kyc for new rupees and they're they're a country that has gone hard in terms of tax evasion and gold because indians love gold um so it makes complete sense to me that they're going to go fucking whole hog here and this is a very big market for bitcoin like this is a market that that wants bitcoin and that's why their government is standing up against it and i i think this is going to be a major fight for this community and we should be completely aware of everything that's happening over there and pay attention to it because i i really do think that it's very likely that this this passes yeah and we should be as supportive as possible in trying to undermine what the indian government

is doing i mean the protests going on there right now at the farmers um versus the the kleptocratic elite you have fucking bollywood scumbags siding with the government as these farmers are just fighting for the right to to make a living uh jeet sadu shout out jeet was telling us the story of a journalist who who um got apprehended and was in a cell and he was basically taking notes on his legs writing notes about what they were taught the officials were talking about planning on doing um and he was detained for a few days i believe and has like copious amounts of notes on on their plans and then from what i understand it's pretty oppressive they want to come down with an iron fist and stomp this out and they're

doing everything they can to get um the propaganda machine going so bollywood's getting involved and the media is is being uh i don't say it's being pressured to uh videotape certain things and present things in a certain way very very beneficial for the government and make the the government and the the uh the goons that they're sending out there look like they're the good guys um so any of you indian freaks out there listening we're praying for you we're pulling for you and if there's anything we can do to help from a bitcoin perspective from over here let us know dms are open um i mean they literally they literally they shut down the internet dude So there's a separate thing going on.

I mean, they hate Bitcoin. And honestly, I don't give them shit about hating Bitcoin. It's the same reason Brad Sherman hates Bitcoin. They hate Bitcoin for the right reasons. And if you hate Bitcoin for the right reasons, at least I respect that you realize that, right? And they know it's going to hurt their power, and that's why they hate it. But at the same time, we have the Indian farmers are protesting there, and they just completely cut the internet.

they cut the internet it's been cut for multiple days uh in in the new delhi region which is one of the most populous regions of the world let alone india it's like nigeria and the new delhi i believe there is never a defendable reason to cut internet like there is literally there's no single reason ever and i will stand by this like you freaks if i ever defend an internet ban or an internet restriction you can come at me there is never a good reason a non-authoritarian reason to cut the internet and they cut the internet so take it as you will yeah again i'm pulling for any of you indian freaks out there it's pretty fucked up what's going on uh they want to ban bitcoin and they want to suppress the will of of the common man over in

india to to to fight for for a fair living godspeed and again if there's anything we could do to help from over here please feel free to dm if it it could be something as small as just beating the message into the ears of our listeners which we do have a global audience matthew so hopefully um all of our our freak nodes around the world can help propagate this message and and empower uh the the indian citizens who are who are fighting for freedom you know i might be unique i'm i'm probably unique in this regard but my i might be white i might be white i am white uh but but my my grandmother grew up in mumbai and at the time it was bombay so i didn't even realize this you people are my people and i'm here for you and uh if if if i can

help in any way let me know yeah love all y'all stay strong if you could even like fuck we may be saying this and maybe even be able to get this message because the internet's fucking shut down fuck modi like the fucking banning of the cash and the biometric system he wants to implement it's very orwellian and very it's super orwellian the craziest part is how much the the like the u.s media organizations are like so they're so pro right yeah well it's super our propaganda machine like surveillance as well staying on this tip it's been a military coup and me and them are uh the atm's banks and internet access has also been shut down to me and namar as a military coup it's always the money guys

it's the money plus the internet that's what it always is cut off the money and the internet that's why bitcoin's important there's some like just laying maxwell connection here too um apparently yeah the person in charge the woman in charge the quote-unquote democratically elected so that's what like i i've just been following this at arm's length i i don't know if the individuals and me and namar are happy that the the military is cooing no they aren't no again they aren't marty that video is that video real that woman doing like the aerobics and the military rolling in behind her no that's not real the mr robot uh intro no did you see that video floating around twitter yeah i saw the video yeah no no one of one of the freaks i think it was ronin ronin uh

node on twitter like he did he did that but he did the mr robot intro the intro text on top of it and it was just like 2021 is just i still haven't watched mr robot i get on but uh no no that that that was uh she had a green screen behind her so it was classic uh photoshop uh social media 2021 it wasn't really behind her but still like a coup happened and like no one's really talking about it i don't know how to pronounce her name but she won a nobile prize dude my mic stopped recording i might have run out of data yeah i did fuck i ran out of data on my uh sd card for the zoom it happened no no but it's recording yeah yeah so which is coming to your computer and i'm recording locally so yeah we'll be good but it's just like i've had this is like

128 gig sd card and fucking okay marty but we're talking about a coup here like can we ground ourselves a little bit yes we can um so this is like a big deal i mean in myanmar they have military coups like all the time unfortunately um but i think a key here is that the atms the banks all got shut down with the internet and that's what's going to happen in coups going forward like if if you can cut off the money like you're going to fucking do it because if you can cut off the money like you cut off the rebels money um and that this is why cash is important and as cash gets diminished we're going to need a digital alternative and that's where bitcoin enters the game um yeah i mean so this is massive so like if you if you want to bring in money into

india or myanmar or belarus for that matter um the only way you can do it is with bitcoin hopefully you're running a satellite too or a mesh network and in terms of belarus belarus they brought in uh the the the bitcoin facilitating uh belarus rebels brought in 179 worth of bitcoin and 179 that's pretty badass of funds into belarus over the last year which is insane right like this is what people don't realize like just this little this seemingly little power of being able to just transfer money across borders without

restriction gives the little guy so much power. It gives the little guy so much fucking power to facilitate resistance to centralized control. It's insane. I agree. It's beautiful. This is why we're here. Gorgeous. Satoshi created

a digital peer-to-peer distributed cash system. This is the beauty of it. It empowers individuals around the world who are being subjected to uh very oppressive governments and like these stories towards the end it's fucking terrible it's going on makes me feel incredibly lucky even though uh makes me feel incredibly lucky right now in the u.s things aren't that bad but i would not be surprised that things do get that bad in the future like the the So this is the fucking

Reason.com posted an article of a proposed Bill to create Quasi Suspicious activity reports for tweets In online speech This is what I warned you about Marty You warned me about a lot of things Matthew But it's crazy to see

This is so fucked This is beyond fucked This is what the Republicans have been saying The Republicans are saying that they want to remove Section 230 I've been against I've been against the removal of section 230 Okay it provides

Platforms Plausible deniability That's what section 230 does And that's important right Because if you don't provide plausible deniability In an overly litigious world What that means is That every single quasi

Suspicious thing needs to be fucking Reported right And we end up in a way worse situation the solution to censorship is not more regulation regulation itself is the embodiment of censorship it is a select

few deciding who gets to speak and who doesn't get to speak the solution to censorship is that no one has the power to censor anybody and that is scary as fuck and I understand that and I respect that but you are wrong if you think otherwise

that is the solution and we're going to make that happen and you're just going to have to deal with it. Agreed. And like censorship isn't the answer, right? Like that's what we have to get through to more and more people. It's like you don't shut down bad ideas with censorship.

You shut down bad ideas with good ideas. And that's actually, happy I just said that. Props to me, Uncle Marty. Two days ago, I wrote a bent and just had a little time of soul appreciation post an incredible one-hour documentary about one of the most incredible thinkers of our time we are lucky to be living on this rock uh while thomas soul is alive and that's one of his main driving

ideals is like you beat bad ideas with good ideas and thomas soul has some of the best ideas i've ever heard in terms of understanding economics and the trade-offs that exist within economic systems and decisions um so i highly recommend you freak scope you'll find that one hour documentary again it dropped last week it's already got millions of views this dude is thomas soul is is extremely underrated outside of economic circles austrian economic circles specifically um i i want as many people as possible to get exposed to him his work uh and and everything he stands for because i think it's a beacon of hope and light in these in these weird times where uh you have a ton of censorious individuals whether it be at the government

level or the tech uh technocratic level um you don't beat bad ideas by censoring them you beat them with good ideas so let's get back to to a a a society where we have a socratic debates about things and we actually just hash things out like pun intended um this is this is what needs to happen you know as a pro freedom individual i respect your right to be anti-freedom but i will fucking destroy you this is true don't fuck with us matthew i have a feeling that the freaks are going to be pissed off about the audio quality of my airpod um headphones or my not even airpod headphones the the fucking plug-in headphones that i'm using right now how am i sounding on your end is this all that we have recorded well this is what you sound fantastic

marty all right i just wanted to make sure i can't hear myself um we're almost two and a half hours into night i've got bedtime and uh and dinner time soon so what do we got we're good let's wrap this let's wrap this baby up caps odell's going crazy on twitter right now because we don't have a live chat don't get used to that live chat casa uh they raised four million dollars in a seat around this is pretty pretty good for the space casa uh again a a you should know about them but if you don't they're a company that is providing uh multi-sig solutions for bitcoiners who want peace of mind while holding their stash and they just raised four million dollars uh in a seat around led by avon ventures um and the i believe avon yeah they're um associated with

fidelity fidelity uh and it's fidelity's name yeah it's fidelity's vc subsidiary um and it is their name no one knows this fidelity tioga capital uh cadenza ventures coinbase ventures uh champion hill ventures it's a big raise for a bitcoin only yeah and they're joining our friend nick carter and castle island ventures compound bc and precursor as well so yeah i have a feeling um and this is one of those predictions that matt makes with insider knowledge i have a feeling that we're going to have a lot we're going to have a lot of huge fucking raises on our on our books but but good for the boys at casa yeah i mean just remember that if you use one of these uh hosted multi-sig services including our sponsor unchained capital that you are trusting

them with your uh privacy yes which is fine if you trust them but just trust them like you have to know it is working always where they don't actually know okay but right now you trust them and it's important that you realize you trust them and that's fine like i said it's absolutely fine that you trust a company but just know that you trust the company like it you should know that you're trusting the company with your privacy and you understand the trade-offs that's what we strive to have you freeze under stuff here. So I had the next thing on the list. This is pretty big.

I thought I was going to get a little bit of shit for it, but I think it's important that people talk about it on the Bitcoin side, which is xmr.to has shut down. They've shut down themselves after six years. And they cited regulatory issues as the reason. And this is a service that allowed you to pay any bitcoin invoice uh whether that was on chain or lightning uh via monero easily um and i

i just i just think this is something to just keep in mind as a freak uh this is probably something that most freaks never use um but it was a very reliable service that offered and it offered it to privacy centric freaks right and and something to consider so something just keep in mind that that that happened beware freaks and while we're on the privacy tip our girl janine uh this month in privacy bitcoin privacy excuse me for january has been released uh we're going to link to that in the show notes if you're looking to stay up to date on everything that's going on uh in bitcoin with the focus on privacy uh or a lack of privacy in the case of chain analysis and their reports go check out this link there's 11 um stories this month or from january that you need highlights and

wants to get you freaks exposed to let's go check it out and then we already talked about the big one 2021 conference it's going to be on miami i'm actually fucking psyched for it i hate la it's gonna be at least two sprawling miami's not my favorite city like i'm not like a big like club guy and i don't like like all the high rises spread out in south beach well i mean i love miami just fucking taking yes i do love that as well they've just like made every city their bitch yeah not austin i think austin's uh kind of but still they took it to a whole yeah they're not you know like austin may be the least of of all the cities the least cut yeah um compared to miami but miami is taken to a whole different level right like they're like going ham they're

going hard like who's the austin mayor i don't know his name right but francis suarez is going fucking ape shit over like trying to take all of our businesses from any kind of major city into his into his like a fucking college football recruiting coach like with austin uh man no france is acting like a fucking recruiter like i fucking love it man i fucking love it it's just like what a hustle and um bitcoin 2021 is gonna be it's gonna be dope guys it's gonna be dope i promise you i agree um we're working on we're gonna do our live episode there uh there's gonna be some celebrations going on this event may fall around my 30th birthday uh which i'm very excited for um so looking forward to seeing you guys in uh miami again june 4th june 5th uh tentatively

right now it's not like locked in correct it's like but pretty much locked in no no it's it's really locked in it's just like kind of like legalese or whatever and i'm not allowed to talk for them but uh it's locked in like it's uh we're it's if you're if you're a mayor of a of a city you have you can't like say that you're gonna have like a large event in in at a time in the future during a pandemic but we so so there needs to be certain language but it's gonna happen june 4th is it even a pandemic anymore i heard joe biden like i'll bet i'll bet sats that it happens june 4th and 5th i'll put my money where my mouth is if i need to is it a pandemic anymore i heard joe biden is going to vaccinate 300 americans um i what only yeah 300 americans is what he's saying

only 300 he's completely like 300 million or he's got marbles for brains that he was trying to say 300 million it's fucking embarrassing just getting started it's embarrassing that that guy's our president um stefan came at me for caps odell on twitter right now so i just i just you know you guys should explain explain to stefan get stefan in line like he should be in line what which you know what why is he coming at me for caps we will make the moon our home or is he just like yeah i noticed i tweeted out we will make the mooner home hashtag sat squeeze um he goes my caps lock is broken i can't afford to buy a new keyboard because stacking sats all caps he's coming at me he's coming at me uh caps odell caps lavera let's uh let's boycott stefan for a

week let's let's show him on the downloads what happens when we turn off our auto downloads never subscribe two tails from the crypt yeah we love you freaks if wherever you're listening however you're listening uh please smash that subscribe button stop stop hanging out in clubhouse i'm kidding um yeah again like we've been saying throughout this episode we're just trying to get information about bitcoin out to as many people as possible to get as many people on the lifeboat as possible and to make sure as few people that we come into contact with are short bitcoin as possible um so we love you guys thank you for the shout outs thank you for joining us week in and week out um this was a long rep i fucking ran through the sd card on my zoom recorder so

sorry for uh a reduction in audio quality toward the back half of this episode if it did reduce i can't really hear myself right now so i couldn't tell you you sound fine marty um i i forgive marty um i love you freaks uh we're entering a bull market there's going to be a lot of shit corners trying to fuck with you just like fuck with your head just like you can go into this investment and maybe you can make more money than if you stack sets and there's going to be like all these different distractions um people are going to tell you that bitcoin's a bubble they're they're going to tell you to put your money into something else they're going to tell you to take profits when when you take profit i take profit all the time i take it into bitcoin i don't take it into

fucking shitty fucking money that's designed to dump forever i mean the u.s dollar is literally designed to dump forever and they call bitcoin a scam instead of that like are you fucking kidding me so i need you freaks to hold the fucking line i need you freaks to learn i need you freaks to fucking educate yourself and improve yourself and get motivated into doing that i want you to practice personal responsibility i want you to practice critical thinking and i want you to stay humble and stack fucking sats peace and love freaks love all y'all Thank you.