TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Bitcoin Week of 2021.07.26

Episode Date: July 29, 2021

This week Marty and Matt discuss: - bipartisan infrastructure bill targets bitcoiners - Israel forced bitcoin disclosure bill - mexico regulator says 12 bitcoin exchanges are operating illegaly - bolt12 spec released http://bolt12.org/ - fully noded v0.2.20 - zap android v0.4.2-beta - blue wallet v6.2.2 - bisq v1.7.2 - coldcard v4.1.2 - caravan v0.3.9 - sphinx relay v2.2.0 - ledger donjon analysis of software wallet - liquid truedex launches on mobile - lolli raises $10M from celebrities - can bitcoin be palestine's currency of freedom - french police officer caught selling personal information on darkweb - mac malware steals telegram accounts - the life cycle of a breached database 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. HodlHodl. Lend at Hodl Hodl is a new non-custodial bitcoin backed lending platform, that allows peer to peer lending and borrowing between users, globally, anonymously & on your own terms. Create you offers & set your own terms on lend.hodlhodl.com Braiins. Braiins are leaders in the mining industry; running Slush Pool, creating firmware to make miners more profitable (Braiins OS+), and building out Stratum V2 to help further decentralize mining and make Bitcoin more robust. Check out their mining profitability calculator.

What is up, freaks? It's your boy, Marty Bent, here to introduce this rip of RHR. It has not been ripped yet. I'm pre-recording the ads. Matthew will be very happy. Hopefully, this means we get out in a timely manner today. I should have access to my main computer, too, which makes it a lot quicker. I don't have to post via my laptop. It takes a lot longer. Lots to talk about this week. Haven't talked about it yet, but I'm very excited to sit down with Matt in 20 minutes. a lot going on with this this bill this infrastructure bill where they're sneaking in taxes on bitcoin and quote-unquote crypto exchanges uh the state hates us they fucking

hate you they don't care about you they're slipping this in last minute i'm sure i'll ramble about it with matt um yeah i'm feeling a good one i'm feeling good one i'm feeling good today gotta lift in mow the lawn gam calls podcast haven't written the bent yet gonna have to do that after this rip it's gonna be on the infrastructure bill shit insanity why do we pay taxes anymore why the fuck do we pay taxes we'll get into it we'll get into it i'll get into it uh in this app this rip was brought to you by good friends at the motherfucking cash app cash up something you sense sets you can send sets if you want to but that's not what i would say i wanted to say stack sets that's what i usually started with you can stack sets send sets receive sets sell sets if

you so please we're saying satsatsatsatsats because sats are the standards 100 million sats in one whole bitcoin you want to buy a whole bitcoin a fraction of bitcoin you can stack whole sats instead cash app makes it very easy as well you can dca that's dollar cost average into sats you can buy daily weekly bi-weekly if you so please uh set it and forget it on top of that they have their boost card which allows you to shop anywhere visas accepted uh connected to your cash app cash app can be your bank account and they're offering account numbers and rally numbers when you get Your paychecks direct deposited into the app. They are the neobank of the future, as described by, I believe, Morgan Stanley or J.P. Morgan.

I forget. Some analyst. Whatever. Really cool thing. I used it yesterday. Last night, actually. I got Sats back. They have a Sats back boost on right now.

I believe it's if you use your boost card wherever at any restaurant, you're going to get Sats back. I bought some takeout last night from a restaurant with my boost card, and I got 6,500 Sats back. it was nice every sack counts every set counts for you stack those sats catch that makes it easy if you haven't downloaded the app yet make sure you do so using the code stacking sats that's s-t-a-c-k-i-n-g-s-a-t-s you're going to get ten dollars and ten dollars going to go to our good friends at owls lacrosse that's owls lacrosse owls lacrosse this rip is also brought to you by our good friends at Unchained Capital. Unchained Capital is here

to take the stress away from self-custody with their collaborative custody model, which comes out in their vaults, their vaults product, right? And they have a concierge onboarding program. It's proven to be very popular, and

they want more freaks to get into it. Again, they're going to take the stress away from you. I tweeted out earlier this week, this infrastructure bill is a little... I didn't tweet this, out but this infrastructure bill is a little creep towards uh regulatory capture of bitcoin exchanges i'm not saying that the exchanges are in the wrong but it seems like the u.s is posturing like they're they're going to start cracking down on bitcoin and particularly custody

and so while you can make sure you're getting your utx's off exchanges unchained has their beautiful collaborative custody model um where you hold two keys uh unchained holds one you always have complete control over your your Bitcoin, you can move them whenever but if you're ever in a pinch, you have one key on chain has another key, and they can help you move that. So sign up for the concierge onboarding or a free consultation today. For long term Bitcoin savings, it's important to eliminate single points of failure. That's why on chain has this product. No matter how careful you are, sometimes things can go wrong. And when they do, you need to be confident that you're not going to see your savings go to zero. Viewers in exchange or custodian, the single

point of failure is obvious it's not your keys not your coins like i just mentioned uh the company staff and your your login are susceptible to being hacked and and taken we've seen many exchange hacks in the past even if you're using a hardware wallet you're still exposed to other single points of failure especially single sig wallets your wallet it's backup and even yourself so unchained is here to make collaborative custody easy uh they're gonna again we already described the multi-sig uh requiring multi multiple keys to spend your bitcoin ensures that your bitcoin savings are safe even if you make a mistake while ensuring you're always in total control setting up a collaborative custody vault may sound daunting for some listeners but our friends at unchained

capital have made getting started super easy with their concierge service their white glove concierge service they're going to take you from zero to having a multi-sig vault set up with sats dumped in it okay it's going to be a personal guide personal concierge service they're going I have one-to-one guidance to get you up to speed and set with a secure solution fast, even if you've never held your own keys before. They ship hardware devices to you direct from the manufacturer, walk you through the setup steps at your own pace, and cover everything you need to know about Bitcoin security.

Once you're set up with Unchained, you can easily access other services, including buying and selling Bitcoin, Bitcoin retirement accounts, and Bitcoin-backed loans. You can begin the concierge onboarding process on their site at unchained-capital.com slash concierge and get $50 off with the promo code TFTC. Tell them TFTC sent you. You're going to get $50 off. If you're not quite ready for it live

and you want a demo, you just want to get comfortable with it, they have free, again, free, free 99 consultations one-on-one. So you can hit them up for that. Unchained-capital.com. Check out the concierge service. Check out their vaults.

Check out their blog. Incredible team doing incredible things. This rip was also brought to you by our great friends at HodlHodl. All right, LandedHodlHodl is a new non-custodial Bitcoin-backed lending platform that allows peer-to-peer lending and borrowing between users globally, anonymously, and on your own terms.

You don't need KYC. You don't need AML. I was going to say AOL. You don't need AOL either. But you don't need KYC or AML to access this lending platform by HODL. HODL is available to U.S. citizens too. One of the few HODL products that is,

and that is because they also leverage multisig. They leverage Bitcoin's native multisig properties and the way that this setup works is non-custodial. So you hold one key, your counterparty holds one key, and HODL HODL holds the third key, you put your Bitcoin in this two or three multisig as collateral, and then your counterpart gives you stable coins as the loan and the loan and stable coins. As long as you're paying that loan back, you're going to get your sats back at the end of the day. And the beauty of this is the fact that it is a multi-sig escrow wallet, uh, where you hold one key, you know, that you're going to get your sats back at the end of the day. Cause you can see them. That one key gives you visibility into the wallet to ensure that those sats aren't being

rehypothecated and you know, they aren't being re-lent out. And so that, you know, if you're paying your loan back, you're going to get your sats back. Uh, if you're on the other side of that, or if you don't want to lend or use your Bitcoin as collateral, but instead you have stable coins, you want to lend out, you can enter the other side of that order book, put your stable coins up. for some yield you'll get interest back as the person who took out the loan using bitcoin as collateral is paying it back plus interest so create your own offers and set your own terms on lend.hodlhodl.com that's l-e-n-d dot h-o-d-l h-o-d-l dot com last but not least this rip was

brought to you by our good friends at brains brains double i b-r-a-i-i-n-s uh team behind slash pull guess what slash pull update is live as we made you freaks aware last week and the week before it includes ultra flexible payouts that can be either time-based or threshold-based mining reward splitting for automatically distributing rewards to multiple wallets and of course dark theme meanwhile the latest brains os plus firmware updates includes full support for ant miner s17e and t17e as well as some significant improvements to the auto tuning for all x17 devices and available now at brains.com slash os slash plus that's b-r-a-i-i-n-s dot com slash os slash plus uh go check out those the brains os plus firmware brains os plus is

compatible with any mining pool there's a misconception out there that if you run brains os plus firmware on your a6 you have to push your hash toward slush this is not true you don't need to mine with slush pool if you use the the firmware the firmware but if you do mine with slush pool you're going to get zero percent pool fees that's the incentive they get for you it's all about incentive so if you use brains os plus firmware and you point at slush you're going to get zero percent full pool fees however you do not need to point your hash at slush if you're running brains os plus since network hash rate is one year lows due to the china crackdown now is a great time for miners to juice up their a6 with auto tuning firmware and stack even more sats

for those of you that don't know how this works it mostly comes down to the silicon chips still excuse me the silicon of the hashing chips there are small variations in the silicon quality for every chip in the asic typically stock firmwares that come with the machines treat the entire device as a uniform unit sending the same frequencies and voltages through hash boards brains os plus boost performance by experimenting with different frequencies and voltages of each individual chip to learn which chips are higher quality than others then it calibrates to send more work to the higher quality chips and less work to the lower quality ones the end result of this per chip tuning is more hash and thus more sats per watt of power consumed currently supported

devices are the amp minor s9 s9i s9j as well as the s17 s17 plus s17 pro t17 t17 plus and the ones just added the c17e and the t17e next up is the what's miners i'll believe it when i see it edward that's me whipping you from new jersey all the way to the czech republic along with the s19s from bitmain they're working on that stay tuned tm for more updates on the firmware and slash pull and check out insights.brains.com for content stats charts and mining profitability tools to stay up on top of everything happening in the mining industry enjoy this rip freaks haven't ripped it yet i hope it's a good one i'm sure it will be Love all y'all.

Keep pushing. Peeky! You've had a dynamic where money's become freer than free. When you talk about a Fed just gone nuts. All the central banks going nuts. So it's all acting like safe haven. I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins.

In the world of fiat currencies, Bitcoin is the victor. I mean, that's part of the bull case for Bitcoin. If you're not paying attention, you probably should be. Leave meeting. Leave meeting? No, it gives me a choice when you press record. If I can press continue or I can press leave meeting. So I was just joking.

I'd like you to stay because we need to record this show. And we're going to go live right now. Preparing, preparing. and we're live what is up freaks welcome back to rabbit hole recap it's your boy marty bent here with my incredible co-host matt odell and we just ninja launched an rhr on you we gave you no warning sorry about that freaks it's usually matt's morning tweet yeah i don't think it unfortunately that's not that rare but uh yep no warning this time yeah matt and i uh we were discussing on telegram this morning when we agreed upon the record time big week big week a lot going

on huge week yeah the attacks on bitcoin are heating up we've been discussing for the last couple months a couple months ago a month ago he's like things seem a little quiet on the regulatory front haven't heard much of anything for quite a while and then boom last week since we last recorded seems like there's a concerted coordinated i don't know it's coordinated or just coincidence that it's all going on at the same time but there's there's a lot going on from uh the political and regulatory class as it pertains to bitcoin around the world we're going to talk about all that first how the hell you doing matt where are you uh undisclosed location how is it up there it's it's going well it's going well um got a nice beer elaborate

metaphor bought it just because of the packaging that's what it's called elaborate metaphor yeah i like that i like that i figured it was fitting for today's discussion um what do you got it there a nooner nooner i'm nooning out nooning out pineapple i've got pineapple and passion fruit i've never had a passion fruit uh outside of like a liquid trying to pretend to be passion fruit you've never had like an actual fruit passion fruit no i don't think so i think i have maybe i haven't yeah it's possible well i think i think they look like a kiwi on the inside or something like a kiwi no i think they got like here's it's like yellow on the inside purple on the outside i don't know never had one um but we're not here to talk about

fruits we're here to talk about bitcoin price of bitcoin right now according to clark moody's dashboard is thirty nine thousand five hundred fifty five dollars uh pumped we've uh we've been talking about the consolidation and we've have we broken out of consolidation maybe uh we're on the upper end of the consolidation band if we are still in consolidation and it's been a good week for the corn from a price perspective i would say we're like on the upper end of a consolidation range right like yeah it hasn't been like a proper breakout yet no not yet not yet not quite yet and there may be reasons for that that we'll discuss in this episode at 39 550 the bitcoin market cap is 742.4 billion cuck bucks we are currently at block height 693 273

god i'm on the wrong fucking monitor again so i'm like all out of whack there is going to be difficulty adjustment in 231 blocks uh that is estimated to be on july 31st or uh saturday of this week in two days and that estimate right now is an upward adjustment of 4.8 percent and that is because blocks have been coming in at nine minutes and 32 seconds uh on average since the last difficulty adjustment and i've been following this pretty uh pretty intensely over the course of this week and that's risen significantly was like 1.9 beginning of the week and now it's hovering around five percent so it seems that like some hash rate has come on the network over the course of the week which is good did you see that mempool.space updated the way they show it

the no the projected difficulty adjustment i feel like they do a really good job with it now let me say um it shows you the previous difficulty change it shows you how many blocks there have been how many blocks there will be and the projected all in one nice little screenshotable graphic where am i scrolling to it's right there it's the first it's the first thing under the box i'm seeing uh yep there we go 231 pretty clean right yeah very clean but yeah i've noticed that too i mean that that's a great sign that's exactly what we want to see um to dispel any of the long tail fears of a, of a Chinese attack. Right. Yeah. Yeah. Um, and, and to be clear because, because difficulty is increasing or because hash is increasing in this difficulty

adjustment period, blocks are getting produced quicker. Um, so naturally fees should stay low in that environment i know we've been fee watching lately on the show and on dispatch but in an upward upward hash environment fees should be lower all else equal it's yet to be seen if fees will pick up after the period ends i will not be making any fee predictions for the conceivable future uh you're just gonna you're gonna limit it to fee predictions or price predictions you got any no no no well i said there would be volatility there was volatility i'm gonna limit it to vague predictions for the conceivable future i like that i can get down with that currently speaking of the mempool there's 2269 nice transactions in clark's mempool

uh yeah speaking of fees one one sat per pretty good i sent one it's fucking beautiful dude i feel like i feel like it's such a baller sending one set per bite and getting it getting it confirmed to the next block yeah disclaimer sponsor the pod cash app but i did move some sets of cash app uh earlier today and now they have fee selection which is pretty crazy um first time i moved sets off in a couple weeks and i know you're having some trouble with with uh having funds on there you're trying to remove i hope you took advantage of the dip to get them off i did i did i'm almost done removing all my sets from from the cash app and keeping it below the weekly threshold it is a pain in the ass the team at the cash app understands that they're

actively working on it but if you're a freak who uses the cash app be aware of those withdrawal limits five thousand dollars weekly two thousand dollars daily and it's it's literally a process you have to remember which days you withdraw like it's down to the hour so i could be withdrawal like midnight on friday that starts your five thousand dollar weekly and you gotta wait till 1201 the next friday to to release more sets again very annoying process uh on the cash app specifically the team understands it and they hate it too so just be aware don't stack too many sets without withdrawing on this cash app if you want to get them off in a timely manner at this time again who knows those limits could be increased in the future um what else are we looking at here

And then send them straight into CoinJoin. Yes, straight into CoinJoin. And take advantage of the low fees while you can. Speaking of CoinJoin, Samurai, unspent capacity in Whirlpool is 3,600, 3.92 BTC. That's 142.5 million CUC bucks worth of Bitcoin in the Whirlpool unspent capacity. So that's pumping as well. It's been pumping pretty aggressively. And I guess this is a good, we're talking about getting coins off cash app,

but not just cash. I've got your coins off any exchange. Let's just jump right into it. The regulatory tax are here. They're heating up. We have, we have this bipartisan infrastructure bill. That's about to pass.

They snuck these infrastructure. Yeah. They said, should we list them out first and go one by one? Or should we just focus on the infrastructure bill and then go on? Yeah. Let's let's do one at a time. Okay.

So infrastructure bill, obviously this is the worst one because we're Americans and a, been a big big part of biden's uh administration when he ran on is like hey i'm gonna become president and we get this large infrastructure project uh the initiative through congress gonna make it law we're gonna have this huge jobs program where we go we greenify the economy we build out new roads and whatever the fuck they're thinking about doing um and so it's been debated and and many drafts have been made and i guess this week the final draft which is going to be voted on either maybe voted on right now as we speak it's getting voted on today i'm not exactly

sure at what point uh they snuck in uh some clauses pertaining to you know the transfer of of crypto assets um and it seems like they're going to try to tax every transfer uh bitcoin won't focus on bitcoin bitcoin transfer and it's very vague language so we don't know who is exactly in charge of tracking all this as it exchanges there they mentioned like hardware wallet providers and software wallet providers multi-sig providers providers uh miners miners every it seems to be all-encompassing and and they're they're um justifying this because the the tax the taxable uh events would lead to something like 30 billion dollars in in tax revenue but that part's the bullshit part right it's just they want to track and control everybody

miners don't even make 30 billion dollars of revenue a year it's about surveillance and control um i don't know i mean obviously it doesn't just apply to bitcoin so i'm sure there's you know a shit ton of taxable events that aren't being reported in defy land um but still that number is obviously bullshit it's not to make revenue it is it is 100 a control tactic um seems like it completely caught coin center off guard they're like tweeting about it today and you know i all the power to them hopefully they're able to work something out but it kind of wreaked of desperation a little bit their tweet threads yeah jerry burrito was tweeting out i saw jake shravinsky quote tweeting it saying call your senators i know i've been

talking to people behind the scenes um about what's going on on the on the ground that it seems like it is going to pass at least at this point unless there's bipartisan support to take away all of our privacy freaks that is uh there's bipartisan support to fuck over bitcoiners is it is it the point uh is this the point in time to start disobeying to start uh civil disobedience is this where the line gets drawn in the sand and we just say fuck you i mean those conversations should be had in bars and pubs around the world not on air this is our pub i don't i don't give a fuck like it's good it's gotten to the point like they're taking all this tax money what the fuck have they done with our tax money in the past they took our tax dollars and gave them to

all the pharmaceutical companies last year to make vaccines they're turning out to not work and they're profiting billions of dollars like what the fuck are we doing with our tax money how are these people able to make these decisions over things that they don't understand well let's bring it back to the bill for a second i mean it's intentionally as vague as first of all i don't think there is a full version of the bill circulating anywhere no it's like it's there's no transparency they're just railroading it through so a lot of what we're talking about here is speculation based on other sources who have read the bill um the second thing is it's intentionally vague it's extremely vague which is a very common tactic with these types of

oppressive bills because it allows the government large amount of reach and and and what is going to happen as a fallout of it is we're going to see a lot of companies and stakeholders in the space uh specifically those that are running regulated businesses that have high valuations and have a lot to lose um over complying just to cover their ass because they're not going to know what what the bill really is requesting because it's so big um and then second of all hopefully will have some people fight back and those people who fight back are going to probably be in courts for a long fucking time um so i mean this isn't great uh this is something that i think we've been warning about on the show and on twitter for years now um i think hopefully most freaks

are prepared i mean this is why it's important to use bitcoin in a self-sovereign manner this is why it's important to hold your own keys this is why it's important to use your own node this is why it's important to avoid KYC as much as possible. This is why it's important to learn how to send Bitcoin with privacy best practices in mind. Ultimately, in the United States, we have the Fourth Amendment, which hopefully provides us some protection. Optimistically speaking, I don't like to rely on a piece of paper, but it prevents unreasonable search and seizure without a warrant. You need a warrant. But we also have something called the third party doctrine, which is what enabled the Bank Secrecy Act. Bank Secrecy Act sounds like it helps us,

but it's actually the opposite of banks being secret. It's them providing the information. And the third party doctrine says that if you have a third party that you voluntarily hand over information to, you have no expectation of privacy. That is now public information. And the government can just take that information without a warrant. So in Bitcoin land, you might have heard the phrase trusted third parties are security holes. It's something that's been repeated many times. It turns out in constitutional law, not a constitutional lawyer, it's also the same thing. And if we're using our own node and we're holding our own keys, there's no third party that we're handing that information over to. And then at least they'd have to go from user to user

and hit them with warrants. Yes. Can we depend on them going through that due process? Like you said i i'm not going to trust uh that piece of paper our civil liberties have been completely eroded to the point where that piece of paper that we keep referencing seems like it means nothing uh outside of a few amendments and those amendments are getting weaker by the day hold on to your guns freaks hold on to your guns never give up the second amendment however with this particular bill if it passes looks like it's going to pass that's the fucking fucked up thing about all this is it's it's like the tarp bill all over again like infrastructure like you just sneak in the stuff

that has nothing to do with infrastructure uh it's the scummy underground of politics and the way the american political system works it's completely corrupt it it does not have the best intentions of the american people in in mind um obviously with this law it's going to severely uh deteriorate privacy of individual bitcoin holders and other individuals who hold other cryptocurrencies and it doesn't it doesn't make any sense and so it is a step toward simply not allowing people to self-custody so this is the first move they just do this all right we're gonna have to tax everything exchanges make sure you're you're keeping track of your your users and and you send us the information on them so we can make sure

that they're paying as much of the tax that that we believe that they owe us that's the first step and then the second step is there's a shit ton of bitcoin and personal wallets around the world and obviously people are not going to some people are not going to abide by those tax laws or maybe it won't even matter if they do or don't it's going to get to the point where like hey there's too much tax revenue leakage here we can't have people using self-custody or i know we don't like that we can't have people using their own bitcoin wallets without uh without people using bitcoin these licensed providers uh handling the custody for them it's just untenable because we can't collect the tax revenue on these transactions.

I would say two things just on top of that. I mean, first of all, you know, at least in the near term, I don't expect explicit withdrawal bans or custody bans allowing you to withdraw your Bitcoin. What I expect is more like the restrictions getting more and more difficult. So it becomes like almost untenable for people to do it. most people will choose not to look even in the current status quo a ton of people choose not to and a lot of them are using platforms like robinhood where you can't even withdraw your

bitcoin um so you can make that option the sovereign option as difficult as possible for users without a full full ban um and it still will have a similar effect second of all i think we need to be careful with the framing because the framing, and I think this was your point, the framing is that we need the surveillance. We need these large databases of information on Americans to enforce our tax laws. That is the framing. That will be the framing. Tax laws, terrorism, money laundering, drugs, that will be the framing. The reality is, this is a forced collection of information on law-abiding American citizens, many of which are paying their full tax burden as they're supposed to be doing. And we at Rabbit Hole Recap and Tales from the Crypt,

we have to make sure that we don't fall into that trap of basically agreeing with them that it's about tax because it's it's way bigger than tax way bigger again yeah like i think you correctly um assumed my position which is uh yes they're gonna they're using taxes a trojan horse a distraction to surveil they're losing grasp of control again we're seeing it happen in real time and like we've been saying the last two weeks specifically it feels like the authoritarian tendencies of the political class around the world not just in the us has been getting very very intense in the last month specifically and this is just another escalation of that like i mentioned earlier it's not just the us with this infrastructure bill we have we have israel uh

they're forcing um individuals to to disclose bitcoin uh holdings above 61 000 right is that the number 200 000 shekels but 61k is for the americans um the eu they have that that bill in parliament that's trying to ban um pow we've had the the financial action task force guidelines being updated the draft we have senator warren calling us shadowy super coders that's yes um like my shadowy super coder look somebody actually said that on twitter you look like a shadowy um super coder right now but it's all around it's not just the u.s mexico came out with something as well didn't they um mexico said the mexican regulator said that 12 bitcoin exchanges are operating illegally yes yes um so they're like how many do they have right right and

yeah again the regulatory attack that we've been warning about again i felt like slippy in star fox 64 there on on level two when they're going through like the the asteroid belt or the meteor belt and he's like it's quiet it's too quiet like a month ago it was like it's quiet it's too quiet like this doesn't seem right what's going on then bam like this last week specifically the the regulators around the world are beginning to clamp down and this should be expected we've been warning about this for for years ever since this show was launched but it's here now and it is uh even though you expect it and you prepare for it is still a bit jarring when i've gotten so many predictions wrong amartya i was hoping that this was going to be one of the ones that

got wrong right yeah i want to be clear here i you know i think that oppressive governments attacking bitcoiners and attacking bitcoin is ultimately bullish it's a validation of the value of bitcoin it's why bitcoin exists it's a it's a currency it's a monetary network outside of control of any individual government um my fear here isn't for bitcoin or the bitcoin network my fear here is individual bitcoiners who are going to be targeted and a lot are unprepared fortunately way more prepared i think because of of what we do here but a lot of people will be unprepared and they will learn the hard way um they will they will learn the hard way how bad it could get before it gets better

like i think long term um i i hope that long term we're able to you know reach a proper bitcoin circular economy and get past all this bullshit um not have our personal information all over the place just to interact with the global financial system but in the short term medium term it's going to get messy before it gets better seems like it silver lining silver lining u.s government's just incentivizing people to hold so that's enough i mean obviously we don't have the exact details of the exact verbiage of this part of this infrastructure bill so do you hate calling it infrastructure bill right well that's the thing that's the thing that's what it's american

politics for you let's slap a a good sounding name on on a bill and just do shit that's terrible for and people will just read the name of the bill infrastructure everybody wants infrastructure sign it sign it but will this be retroactive do you think what do you mean like if signed will they go back and look through the history and tax everybody on that or is it like one signed moving forward although there's no i'm pretty sure there's no uh statute of limitations on tax so not bitcoin related just in general they can hit you with a back tax bill at any point yeah there's no statute but that's if you didn't abide by the tax laws at the time right this isn't changing the tax law this is just changing the reporting

requirements it's saying that all these different operators need to start reporting their transactions and building databases on their users if they haven't been already which is hardware wallet vendors i you know like i don't know how i mean some of the hardware wallet vendors like ledger or trezor you're using their servers fortunately trezor has recently added uh tor but like so they have ip addresses and and uh bitcoin addresses um but like cold card doesn't run any servers They don't know any information about the user's transactions, but software wallets that are, when you're using someone else's node, right, you're providing all this information. Software wallets are doing that. The multi-sig providers, they have one of the keys. They know exactly your balance and all your transactions. They may have to start reporting transactions. Fortunately, we just had Michael Flaxman and Unchained come out with their new setup that allows you to use one of these collaborative custody providers without disclosing that information in a blinded way where they don't know the amount you hold or your transactions unless you need them to use their emergency recovery key. Only in an emergency, they would find out at the time of signing. Couldn't be more timely. You know, that's very good that that happened.

but meanwhile if this bill passes the way it's currently read they may be handing they may have to they may have no choice and have to hand over all this information they have on their users and their transactions and their balances um miners they could be targeting mining pools once again we don't really know mining pools you know what the mining pools know a lot of mining pools no email address ip addresses payout addresses um so it's reporting requirements it's like requirements that we see that a lot of regulated exchanges are already doing but they want all these other operators to also be doing it and then obviously that can get mixed with the blockchain which is here forever and just has a record of all transactions

that is just always auditable i know you don't want me to go down this road but it's like time it's time to disobey these motherfuckers they're old they don't understand shit they hate you they hate you they don't give a fuck about you they want to control you like they're just they literally love what china has the amount of control that the ccp has over its populace they want to bring that here to the united states the intelligence apparatus the political class the the large corporations that have monopolies on their respective markets they want to control you and they are doing everything in their power to push us into this digital panopticon and it is time freaks i wrote it

earlier this week it's time to stand up and push back against this i've been saying for the last two weeks like it feels like these are terran tendencies of rulers around the world is getting to like a breaking point they're losing grasp as is becoming evident with this covid response and like the fuck ups with the vaccines like they are freaking the fuck out and they're just trying to to turn everything up to a million to control everybody as quickly as possible speak out against it like be vocal the time for the silent majority that's been sitting back and knows everything's fucked up the people that are in my dm saying marty keep preaching this i work in this space i what you're saying is right like keep going keep going it shouldn't only be me it

should only be matt should only be others who preach similar lines of logic and critical thinking doing this if you are out there and you are part of the silent majority speak up like tweet write to your congressman do whatever you need to do to wake people up to the fact that they are trying to push us into the digital panopticon they want to bring the chinese surveillance social credit system to the united states to the western world and they are right now they are winning they are winning again like matt said this stuff will not affect bitcoin bitcoin will survive it's distributed sufficiently distributed i would argue globally uh our bitcoiners in latin america and africa in all parts of the world um we'll keep the network going and we'll interact

in a peer-to-peer fashion without the the all-seeing eye of of the surveillance state in the us uh taxing them uh we will be forced to huddle for a period of time it seems unless you want to pay those taxes but it's time to step back these it's the we have elizabeth warren mentioning uh wealth tax or unrealized capital gains whatever you want to call it um just a three percent tax over i had so many people i had so many people um because i posted a clip of her saying that and she's like no matter where your assets are if they're art or bitcoin or real estate or diamonds um we're gonna we're gonna take percentage if you're above i think 50 million is the number right now and i had so many people in

my comments like oh it's over 50 million you know it's a small amount uh for people that have over 50 million for them to enforce something like that it it justifies massive financial surveillance on every single person like you you we already have massive financial surveillance but even more so even more aggressive uh so they can determine who has what in the first place the the you know and so not only is it justifying a massive amount of surveillance and these massive databases of law-abiding americans that will get leaked that will get compromised that will get shared that will get hacked and and fall in the hands of other malicious individuals um something like that is not that far off from a 6102 attack it's not that

far off from confiscation it's just lipstick on a pig it's like oh like oh we're gonna confiscate your bitcoin and then you put some lipstick on and you're like unrealized capital gains you haven't sold that's fine we'll just market to market and just tax you based on on whatever the amount you have i think if you have to sell to pay that then you have to pay real cap gains on that but i don't know what do we get in return for taxes matthew are you happy with the services that are being provided the funds that we pay in taxes yes or no oh i mean absolutely not i mean what service i mean i mean i think most of it is paid for with printing anyway exactly the taxes part is just the control aspect at what point do most americans wake up look

around see what's going on in this country in the last decade in terms of the degradation of social cohesion the degradation of actual services provided by the government's degradation of family values of health of education of just basic goods and services a lot where it'd be law enforcement like it's all gotten worse considerably worse like we are not getting any roi on our our tax investment if you are our tithe to the almighty state here in the united states they produce shit and it's shit produced by some of the dumbest motherfuckers on the planet look at joe biden right now he can't even fucking talk he thought his mom was at a press conference the other week and she was she's been dead for a decade like what is going on in this country

it's fucking insane like it's run by a bunch of boomer idiots who literally don't understand technology and they don't care about the constituency all they care about is power fuck these people i think it's time to to begin disobeying i think civil disobedience needs to make a comeback in a very very aggressive way if you're part of that silent majority that agrees with this will only tell us in dms and then only talk to your your friends who agree with you as well in private like it's time to start getting this message out there like it's because it's becoming easier to get this message out there because it's so obvious how terrible the service provided by the u.s government is the federal government we need to push push back to the the

republic that the the founding fathers envisioned we need to push back to states rights break it in everybody needs to get in the hole uh get back to their state have their state make more decisions and get the federal government out of all this bullshit they're fucking parasites that are holding humanity back from literally flourishing like no other civilization in human history has ever flourished we have the technology we have the resources we have the information and the the manpower to take humanity to levels that we could only fathom in science fiction before but we're being held back by a bunch of fucking loser idiots who don't understand anything they don't care about you sorry i will continue to pay my taxes yes don't cop out matt see i mean i'm not

gonna go on a tax revolt yet but we gotta start i mean first it's calling this shit out or should should we should we start a tftc tax revolt movement no are you sure we should not are you sure yes all right well we're gonna we're gonna gain we're gonna we're gonna keep spitting ideas around that uh anything to add on the israel disclosure bill i mean at least that one i guess is more transparent about what they're doing but it's fucked up expect more of those bills around the world yeah that's just straight up you know if you have more than 200 000 shekels which i guess is 61k worth of bitcoin or crypto quote unquote crypto you have to report it yes and in mexico again regulator says 12 bitcoin exchanges are operating illegally and again i don't know if

you have this on the list but the financial action task force is set to release their newest virtual asset service provider guidelines to uh the the world regulatory body in october october 2021 those guidelines will be released and yes they're only guidelines fat if doesn't make regulations it doesn't make laws it only suggests guidelines that just so happen to every time they're suggested get widely adopted by the regulators all around the world and those guidelines uh are coming at personal custody and they want to attach personal identifying information to individual transactions is it true that fatfa is run by like the x uh the equivalent of fin sen director in china i cannot confirm that i do know it's run by demons

i'm not sure if it's that particular demon um that's what jacoby mentioned on dispatch this week and i forgot to follow up i got sidetracked so what do you mention that's the chinese equivalent of fin sen the head right everyone has their own version of fin sen right like uh uh uk has fca um china has their own version obviously even more authoritarian and uh i think he mentioned that the the head the former head of that is now the head of fat but they like rotate you know it's like uh i don't know it's like all these other international organizations they like rotate you know where the leader comes from yes and thank you kita in the in the live chat because i was going to call us out i knew his first name there it is marcus player he's from germany he

assumed the position of president of uh financial action task force on july 1st of last year he succeeded uh of the people's republic of china so yes you do great pronunciation you do have uh you do have pboc excuse me uh form the last one was at least yeah until july 2020 so i mean they did a lot of up and during his period too it's a it's a i'm just going to call what it is we're going undergoing like a global bolshevik like attack like it's a marxist communist attack via the financial system what makes you think it's marxist because they want to control people they want to they want to assume the means of production that's why i'm like all over the esg stuff that's a marxist movement that doesn't directly assume the means of production over

everything but it forces the means of production to act in certain ways which is just a layer beyond uh confiscating and controlling the means of those you do i just feel like powerful people want more power yeah that's that's how communism works these powerful people tell everybody hey we're gonna go to this this communist uh paradise where everybody has uh access to all everything they can want everything's equitable but really it's just the rich and powerful uh enslaving the lower classes um that's they're trying to do that on a global level now right now at least in the western world uh it's china's got a lot of footprint in africa and latin america too so yeah you could say that there's a global push for communism and it's scary speak

out against it these people do not care about you they do not care about you they want to control you they're going to take your privacy i'm going to push you into this digital panopticon your children are going to live in a dystopia that was only written about and movies made about like it's it's coming if we don't stop and speak out i mean they're trying to like can we talk about the vaccine a little bit or is that too too much right now should we you can go go for it you might as well i mean the vaccine like what like fauci had to come out earlier this week and say all right fully vaccinated people are actually uh getting coveted and spreading it and it's delta variant like it's becoming apparent the data out of israel iceland um and other countries that have

very high percentages of their population fully vaccinated are beginning to have increases in cases and spreading of more virulent uh strains of coven 19 and there's a good case to be made and there's a lot of virologists out there they're saying like yeah we were warning people about this last year you don't vaccinate people during an outbreak because it's going to fuck with the variants of the the virus and it seems like that's exactly what's happening right now and so you have this huge taxpayer-funded push to make these vaccines then you have that huge propaganda push to put a jab in everybody's fucking arm and now it doesn't even fucking work and guess what it's potentially making things worse and these are the people that we're giving all these decisions to

and all this money to and they want more like what the fuck is going on wake up now they're trying to like uh fucking joe biden came out and said four million federal like the day after fauci said all this made it obvious he said four million federal workers needed are mandatory need to get the fucking vaccine it's like what how there's no logical consistency or critical thinking where actual introspection about the decisions that have been made over the last year and a half and they're just trying to push us further and further they're pushing the vaccine passports they're trying to divide people over the vaccine shit and they're again they're trying trying trying to divide people so that they can control them you have us fighting over whether or not you're

vaccinated or unvaccinated and then we're distracted at the poor decisions that our leaders are leaders are making um and and they just take more control they slip a very orwellian dystopian clause into an infrastructure bill that's somehow going to tax every fucking transaction that happens uh on the bitcoin network it's fucking insane um i've i've been trying to successfully avoid as much of this conversation as possible not by not you talking but just general media and everything that's going on with the twitter aspects um you don't have to add to it if you don't want to i i would add one thing that you did mention um the federal mandate and you know my former city de blasio mandated it for all city

workers which includes fdny and nypd and i think it was francis who mentioned this or maybe it was shinobi who mentioned this um it's a good way to defund the police right would not defund the police destroy them it's a good way regardless once again regardless of how you feel about the vaccine and i i don't you know i i don't necessarily agree with this idea that like you shouldn't vaccinate people like people shouldn't get vaccines during a pandemic and that causes variants like i think there were this variant narrative is going to happen regardless but that's besides the point it's regardless of how you feel about the vaccine i feel like vaccines being available for people to take is one thing people should be able to take them if they want

to take them, they should be able to do it at low cost in a relatively easy fashion. When you start trying to database people and mandate people to do it and track people into doing it, there's massive civil rights issues there. And so it's a massive slippery slope. And to mandate it in our law enforcement, to mandate it in our federal government, you're basically saying that anyone who's willing to stand up and be against that has to leave and you basically clean ranks and only the people that are subservient are the ones who will still be there afterwards and that to me is the scariest part of the whole thing that is a very good point to bring up like that last sentence the everybody who doesn't uh comply forced to leave so you only have the subservient

fuck man they'll do anything it'll it'll inject their body with an experimental vaccine with all the data coming out that it doesn't work imagine what else they'll do to appease their their fucking handlers all right started off of rants we usually like to front load with uh wait while we're here um might as well not be disjunctive about it did you see that uh coindesk is partnering with the world economic forum for consensus 2022 they moved to austin they moved it to my new home i don't live in yet but uh how i mean you your reply was perfect to team up with wef is klaus schwab gonna be there i would like to meet klaus in person i saw some of the comments like marty we can finally find out who klaus schwab is

uh klaus if you're going to be a consensus next year i probably won't be attending the conference but i'll be living in austin and if you like want to swing by in the future tftc studio the invite is open claude schwab he's never coming on who is claude schwab uh yeah yeah i mean they're completely out of touch it's ridiculous there's one yeah listen to this come on they know right like they're not idiots like what the fuck like how'd that tweet go out even if you're going to partner with them you tweet it out too and your announcement tweet you tag them like are you fucking kidding me are you co-opted did klaus get to you i'm hoping i mean i'm not gonna go but i hope people that go take pictures and they have like banner ads you know

they always have like the big the big poster ads when you walk in into like these different conferences like i hope they have their famous ones you know like you'll have nothing and be happy or whatever with like the guys the stock photo face yeah you'll own nothing that'd be funny BlackRock will own all the houses. You'll rent from them. Don't worry. Larry Fink's an incredible landlord. He's going to treat you well.

He's going to make sure that you have the best living conditions that anybody could ask for. Larry Fink, backer of the World Economic Forum, backer of the ESG movement. These people, the largest asset manager in the world, they have like $3 trillion assets under management. They're buying up all the homes. They're forcing the ESG narrative on the people.

and they're selling the the global communist fucking new world order movement be the world economic forum and now they're coming to tax your bitcoin transactions be aware freaks be aware now to bitcoin now to something wait before we do that and before i forget i have a shout out okay um you still haven't fixed the btc pay server i have fixed the btc pay server when did you fix it so that's how you fix it today anybody wants to buy a shout out now i'll have the btt server up and okay well i had i had uh the wizard of oz from australia ride or die freak uh manually send me a shout out okay okay so he says this is the first time i've read a shout out that you haven't seen it first monstrous shout out for all the aussie plebs heading to yapoon in queensland this weekend

for the Winter Bitcoin Bush Bash. It's the second Bush Bash for the year and the first time up in Queensland. A warm, sunny welcome has been programmed in for the weather, much like Moon has for the corn. Presentations on Austrian economics, lightning, privacy and security, Bitcoin keys, passphrase and derivations,

Bitcoin for institutions, scams and scammers, and a project update from the Bitcoin Builder Project. New certainty of excessive talking, near certainty of excessive talking, laughing, learning, eating and drinking expected. safe travels freaks p.s for freaks prevented from attending this one the last bitcoin bush bash for the year is back in marundi on the first weekend in november this is why we decentralize the bush bash stay strong freaks love the bush bash shout outs shout out to all of our australian

freaks out there and shout out to you matt for reading your first shout out how to so i can go usually i get surprised by the shout outs because i don't see them beforehand yeah it's uh we love our aussie freaks i hope they stay strong down there and try and get out like stefan did because uh yeah australia i think it's bad here that's a complete shithole they're another another they're trying to push the social they're trying to like connect ids to social media and like ip addresses they're trying to make it so you can't actually use the internet without attaching your id to your yeah a lot of governments want to do them yeah it's you want to control you freaks they don't care and guess what the media is going to

fecklessly parrot whatever they're fucking told it's i'm sorry for cursing so much on this i know there's a lot of christian listeners who listen in the car with their children i'm sorry there's no way they got this long if they cared about cursing yeah um but it's it's all angles like the media is just like just lying to people we've known this like nobody trusts the mainstream media is probably here you're probably listening to this again alternative view on some of these topics because you can't trust the mainstream media but with all this stuff it's like jen saki you know she's not mainstream media she's the press secretary she's not even allowed to answer she won't do she won't even answer the question from the press which is actually trying

to be legitimate some some journalists that have access to the press secretary um are trying to get like how many vaccinated members of the administration uh have gotten a strain of covid after being vaccinated she won't answer it which means some of them have and they can't do it because that would politically look terrible okay back to bitcoin back to bitcoin bolt 12 this is bullish as fuck yeah rusty russell uh intentionally put it there because we needed something really nice and bullish after that conversation uh so rusty drop this so go to bolt12.org obviously we'll have a link to this in the show notes but rusty has released a draft spec called bolt for lightning wallets and nodes with experimental support already in sea lightning

lightning's native experience ever everywhere excuse me uh it's it's essentially just a new a static qr invoice that users can use well so currently like your current lightning invoice is bolt 11 so this is the natural successor to the current lightning invoice system and the beauty here is that it never needs to change it's permanent it's just a static qr code um you can print it on a shirt you can get a tattoo of it actually it's really funny his spec says don't get a tattoo of it yet because the spec's not finalized. But it allows you to accept payments with this reusable static QR code in a relatively private manner without exposing your node ID, your node pub key as the current invoices do. It's superior to LNURL because it

doesn't rely on an outside web server. All you need is your regular Lightning node and all messages get passed through the lightning network through its normal onion routed process um there's a lot of explanation at bolt12.org if you want to go dive deep in a lot of it is above my pay grade but it seems extremely awesome um it and seems to enable features that we've been hoping to have for a very long time specifically the ability to accept to me to accept donations in a privacy-preserving manner without having a web server hosting anything. You can just run a node, post either your static string of text or a QR code, and anyone from around the world can send you payments. It supports subscriptions. It supports withdrawals. It supports refunds.

It supports setting invoices in shit coins like fiat. You can set it in USD, Euro, and it'll automatically convert a time of payment to the equivalent amount of sats. Yeah, seems baller as fuck. Sea Lightning has already implemented the draft spec. Hopefully L&D follows. This is literally the most bullish development in Bitcoin land in maybe three months.

Bringing privacy. So the technology that Rusty is leveraging to do this includes unumessages, blinded pass, Schnoor signatures. So that's like one thing, but Schnoor imperative? this and it just says bolt 12 usually no it's using snore on lightning so it didn't matter uh did it matter okay it's not on this is that's not on chain related okay i thought that was they were using snort open channels or something um to make this possible no this is all lightning native stuff it has nothing to do with the on-chain side okay hell yeah boss that's really

fucking awesome let's go shout out to rusty russell um for putting this together you can tested out uh experimental support on sea lightning uh as matt mentioned hopefully it gets ported to lnd and other implementations this would be a huge privacy boon again the center doesn't know where their their sats are going to end up so if you're receiving bitcoin bolt 12 seems to offer better privacy when implemented widely i don't have my keyboard here so i can't like command tab unless i brought my keyboard with me and i brought my mouse um i guess we're just going straight i'm in pro mode now i brought like the whole office with me straight into software updates fully noted version 0.2.20 has been

released um if you're running fully noted or using that consider updating check it out and get some feedback from other users that i've updated zap android version 0.4.2 beta has been released i'm a happy zap user um i thought they i guess zaps now just completely open source and people like it's always been open source yeah but it's like jack and the strike team aren't actively working on it anymore right i think they are i think it just a lot of times takes a step back from strike because they're very busy at strike obviously yeah maybe i'm wrong on that um blue wallet version 6.2.2 i think strike the strike team helps maintain zap but there's also open source contributors that contribute that's my that's my favorite lightning ios wallet right now

what zap um if you're using i with my own note i use zeus yeah my very own evan clutas which evan you're dming me like you're gonna give me access to zeus ios the new i think what is it test flight yeah but never responded to my dm evan well hopefully he's listening hopefully you are listening um bisque version 1.7.2 has been released uh cold card version 4.1.2 has been released and i believe there's some important release notes in this right the coolest thing is uh they implemented a qr code export across the stack so the most useful feature to me in that aspect is they have that bip 85 uh bip 85 seed word generation where you can create child seeds and then use them in um mobile wallets so like you

can just back up you securely back up your cold card and then you can create many different child seeds one two three four five that can be re-derived if you have to restore from your original seed so you only have to back up one thing and you create all these child seeds and then you can use them in a mobile phone before this and still today you have to then manually type in the seed obviously but now he has a qr code export feature then i don't believe any of the phone wallet support yet but presumably if they add the feature set on their side then you could just you know open a mobile wallet and just import the pre-generated seed from the cold card onto whatever mobile wallet you want to use hell yeah shout out to open arms for the idea he gets

a shout out in the uh in the release notes on this well part of it is because seed signer is stateless so seed steiner is a uh do-it-yourself hardware wallet and because it doesn't have a secure element on it it's stateless so that means when you turn off the power it wipes everything so every time you use it you have to put in the seed which is a pain in the ass so what seed signer did is they have these little sheets that you can print out and then you can fill in the sections of the qr code with sharpie and basically build a qr code backup of your seed word by yourself by hand because you don't want to print out the copy because then the computer might have a version of it and the printer might have a version of it a lot of printers have memory

so you make your own qr code with with sharpie and then every time you start up your seed signer you scan the qr code now if it supports his new biff 85 spec you could also do that you could just scan you could just scan the cold card and import uh offline that way yeah no danger of having that leaked the uh the video demo of that sharp eqr code was fascinating it's so crazy so you can so you can print you print like a blank template and then you fill in yeah you fill in your actual qr code like on this on the screen of the seed signer it'll show you which boxes to fill and then just like fill in the blank it's like the old uh it's like when we were kids you'd fill in by the numbers paint by the numbers you know yeah and they test it right away and it

worked it was like oh it's crazy i mean you should definitely test it definitely test it before putting any funds in there um and take care of maybe laminate it do you laminate it i think the idea is you put your seed in steel seeds and steel are the best in my opinion agreed and but that's harder to import and then like you have the the paper version of the qr code for easy import if need easy import you could use that but like you don't count on the paper surviving but yeah i mean i guess you could laminate it but if you laminate it lamination is not perfect for water and it's definitely not fire resistant no no um not perfect for water but it's better yeah better than nothing uh moving on in the software updates section of the so caravan versions you skip blue wallet

no i said blue wall blue wall v 6.2.2 yeah i said that okay um nothing too crazy in the show that's their ui for import well they released v since our last episode they released v 6.2.1 as well there was more stuff in there but i don't remember oh i think oh they finally added passphrase support uh but only if you're importing a wallet so previously you couldn't import a wallet into blue wallet if it didn't if it had a pass raise at the end which is the 25th word or the 13th word depending on if you have a 12 or 24 word seed um so now you can that was a big one hell yeah shut up blue wallet my favorite lightning wall to use that this does not connect to your full node but it's custodial bro i mean again of the custodial options that

i've tried it's my favorite well if you want to use a mobile lightning wallet without your own node consider moon wallet breeze wallet and phoenix the first two are cross-platform available on ios as well and phoenix is android only but all of them allow you to operate in a relatively non-custodial fashion there's still some trust involved different depending on which one you choose um but it's a relatively non-custodial manner uh very easy all three of them are very easy to use i do um breeze as well podcasting 2.0 yeah i was gonna say breeze comes with the added benefit that you can easily stream sats to any podcast that's podcasting 2.0 enabled yeah including ours ours is enabled you can listen to it there's a ton of podcasting apps

coming podcast apps.com yes list them all go check it out new podcast apps.com uh breeze sphinx just two of them um they're growing by the day that's what so if you guys want to listen via podcasting 2.0 compatible app and stream of sats we very much appreciate it caveat the ads are still going to be in there because we can only have one rss feed we would like eventually to go fully to the value for value model um and drop ads completely um so the more support you give us there will give us more confidence to move there uh completely at some point in the future and it's it's a beautiful thing that's like i again i've said this many times sphinx chat has become like the stickiest new app that i've used in years because it's become my podcasting player and is using it

today um to listen to the mo facts podcast and the ability to speak with you freaks in the tribes too always brings me pleasure shout out to the freaks in the in the sphinx tribe app um i love it and i think it's the future of content and media production and i think it aligns incentives way better than the advertising model but one caveat as someone who is a podcast addict and obsessed with podcasts is they there's no easy flow to do it with downloading like i want to i want to be able to download my my uh i want to be able to download the episode i guess you you can download it separately and you could send a boost through it but it's it's the it's not like native you know like let me let me set auto download and auto boost you know so i do auto download

and then if it auto downloads your episode it automatically sends you 10 000 sats or 20 000 sats or whatever um because like if you're in a subway you're in a car with bad reception in the boonies you're just on a dog walk and you don't want to worry about whether or not your cell phone connection's on it's nice to have it just downloaded ready to go on ios i think they do download it i'm pretty sure it's streamed it's all streamed yeah because i see like the little download cloud with the arrow pointed down no it's just telling you it's there yeah just put your put your phone in airplane mode and try and play through sphinx that's a good point oh we'll try that people in the live comments like why not do it now what's the money hold up uh the ad

revenue model uh does support my family uh and this as you can tell has become a main source of income for me personally and matt as well not yeah so it's like gotta feed the family but i mean like dispatch is the test run basically and dispatch it's if we're going to be frank uh i mean it's substantially less it's substantially less amount of revenue than ravenel recap brings in yes um but hey slowly but surely we just need to get bitcoin in the more hands and more individuals and get people uh accustomed to the value for value model it's very foreign to most people did i mention bisque i did mention bisque uh caravan version 0.3.9 uh unchained open source multi-sig uh software uh if you're running that consider updating

um wasn't there something didn't trezor cold card update something that um did something with multi-sig or like these multi-sig softwares had to work around i could be wrong i thought i saw people talking about it i don't know what you're talking about um sphinx relay version 2.2.0 has been released uh just talking about sphinx if you're running sphinx relay specifically um consider upgrading that as well ledger oh this is uh back to the news section uh ledger don john the analysis of software wallets yeah i mean disclosure they make a hardware wallets so they're a bit biased yes but it was still a pretty thorough analysis i thought it was worth putting here yeah so they spied on electrum uh what else did they they conclude

how many wallets i'm trying to get to like the list of wallets they looked at i mean but meanwhile ledger can't protect their customer data so um but yeah look if you're running it if you're running it's a purely a software wallet on a hot device which is a device that's connected to the internet um and that device gets compromised then you can lose your funds we saw the guy get hacked with electrum we i think it was last week or the week before we talked about pegasus they they're saying that that that was the the inspiration for them to do this post uh pegasus was that nso group that israeli group that provided software that allowed them to hack journalists mobile phones um they access your mobile phone they

can probably take your bitcoin off of it if you have it on a bitcoin wallet now all that said uh fortunately we have never seen any real widespread attacks on uh hot phone wallets but the threat is there and that's why the concept of cold storage exists in the first place if your keys aren't online then a internet hacker cannot take your your keys they have to go into your home and take them because the shit's not online it's a very simple concept yeah at the same time if you provide your email address your mailing address and your phone number to ledger it could get hacked as we saw and you're gonna end up on a list so if you're not already on one there's risks everywhere freaks a lot of nuance to all this a lot of nuance to all this as we've

described but the number one thing you can do with your savings is just keep it offline period boom keep it off it's it's it's it's it's it's you know i it's a deep rabbit it's a deep ass rabbit hole but you shouldn't anything that's connected to the internet you should just assume is compromised you should just boom and even with like a ledger or something you have private information that is connected to an internet device so your your privacy can still be compromised for the same reason it's just at least your keys aren't online yeah yeah privacy is not easy there's many layers to it again we talk about it how you how much information you share with the third parties that are sending you bitcoin related products uh when you're interacting

with the protocol and the ip that you're sending broadcasting your transactions from obviously the utxo management side of things having those utxos connected to past transactions past exchanges whatever it may be there's there's a lot of layers to this luckily we have matthew odell here to to help help uh educate us about the nuance that exists here i certainly learn a lot each episode and have learned an immense amount from speaking to this gentleman across from me and speaking of private decentralized apps tdex protocol goes mobile decentralized yeah i knew you're gonna give that so decentralized i don't know sometimes i feel like i'm a fucking hater man

like why do i have to be like that you're liquid's biggest cheerleader in the podcasting liquid's biggest cheerleader you know i try i try and shed light where there's not enough light on in the bitcoin space i think uh we need more open discussion of all the tools and liquid doesn't really get that much uh tick no one really talks about it so this is supposed to be the first uh easy to use decentralized air quotes exchange on liquid that allows you to trade liquid Bitcoin for all the other different liquid assets. It's now available on mobile phone. So iPhone and Android.

Their website reads a little, you know, like a shit coiny gimmicky, I would say gimmicky, you know, like decentralized unstoppable, like all, all those buzzwords that you would,

you would want, you know, I, haven't looked at the code i don't know what i'm doing there but i looked at the the copy and the copy read like that so that's you know um it doesn't support bitcoin to liquid bitcoin yet so you can't even load it up with bitcoin yeah they said they're going to support that soon um on the cool the cool part is it's got native atomic swaps and what's interesting first of its kind atomic swap decentralized exchange protocol

so it's interesting about atomic swaps and it was actually adam back who made this clear to me when he came on to dispatch and i never really had thought of that aspect of it is so right now we have centralized swap services right where they're like the old shapeshift model but there's new ones right and and you send them bitcoin they take custody and then they send you whatever you want tether or shitcoin or whatever and there's obviously trust in that process centralized so there's privacy trust and they're taking custody of your funds before they send you the new funds with atomic swaps the holy grail is obviously a non-centralized type of service where it's like a joint market where you have like a an order book that's not controlled by a centralized entity

and is providing just the matchmaking so two people can do a swap. But what's really cool is you could actually have a centralized atomic swap, the middle ground. And because it's atomic swap, they never take custody of your funds. You're never trusting them with not sending you whatever you want. You want to trade Bitcoin for Tether or whatever? You never trust them that they're not going to send you Tether when you send the Bitcoin.

The only way it settles is if they finish that trade. So you're still trusting them with privacy, and you're still trusting them to be up when you need them. But you're not trusting them with custody if you use a centralized atomic swap. Now, they're calling this decentralized atomic swaps. I don't know. I haven't tested it out. You can't even load it with Bitcoin. When they launch it with Bitcoin, I'll test it out.

But even if it was a centralized atomic swap provider, it's a significant advantage over just a regular swap. Does that make sense? yeah yeah makes a lot of sense boom um trade-offs there's a lot of trade-offs everywhere uh tdex true decks as they're calling it uh is open source so if you are a developer who wants to understand the atomic swap aspect of how they're facilitating these trades and report back to us on whether or not you believe it's legit please do so um what do you think is this again gimmicky do you think this entices part of defy land to move to bitcoin as this block stream liquid trying to to leverage the hype of the defy world isn't necessary um look i i think

you know there are obviously arguments that i mean liquid is is is relatively centralized it's a federated system you're trusting the federation um it is not completely centralized it's like a middle ground um we've had things like binance smart chain that have gotten a shit ton of traction that are completely centralized that aren't even like a federated model um liquidized confidential transactions so if you want to do the shit coiny things um maybe there's some appeal there for on the bitcoin side you know if you if you're able if if if for some reason you want to hold tether if you want to hold a synthetic usd product that's not going to kyc you and you run the risk of obviously trusting tether already tether is

completely centralized then maybe liquid provides a good option there um and the fact that you have confidential transactions means at least the amounts are blinded the amounts and the type of asset you have so if you send a liquid bitcoin transaction or if you send a liquid tether transaction they look exactly the same on chain and you can't tell the amounts um on the liquid chain so there's some advantages there and we'll see if it if it gets picked up i i know it's not it's not my market i have no need for it i don't think the freaks most of the freaks have a need for it but options are good optionality optionality optionality we've always been pro optionality here at rhr uh i'll tell you the biggest threat to liquid in my mind and maybe it's just a simple

one like so many things just come out and i'm like oh i had no idea we could even do that um you know like in six months who the fuck even knows but right now and i know you've been on it as well, is this idea of federated Chaumian custodial Lightning wallets, which are still federated. So you have a similar trust model as Liquid, but they're interoperable with the greater Lightning network, and they offer significantly more privacy than Liquid does. So if you're using one of those, you can just pay out to any Lightning invoice. You don't have to be in the Liquid world. You can just go in and out from the sovereign lightning world so to me that is the greatest threat um to liquid usage and liquid was kind of

to me like a stop gap but they just never got traction in the stop gap period and that period of time seems to be especially if fees stay low if fees stay low that period of time seems to be closing on them yeah i mean charmian mints just makes the way the blind signatures work out like you just prove that you have access to a certain amount of stats within that mint but they can't tell who you are is a massive privacy improvement and then if you use that and then you build something like rgb on top like i would think like rgb but like if we're talking about replacing liquid i think rgb would be more directly we don't need the who needs the tokens no no i'm just playing through i don't need them but you're talking about competing with liquid

the time that we are we are quickly entering the world where even if you desire usd tokens now you're not going to desire them in five years like who wants to hold dollars cuck bucks you want to hold those cuck bucks are you cucked are you cuck why you own those bucks that speaking that synthetic dollars there's i mean rumor mill but uh there was there's a thread going around on twitter so there's two two separate things here that's right i'm talking about is diving into the potential collapse of one of the largest real estate developers in china the amount of debt that they've taken on is like approaching a trillion dollars a lot of that debt is coming due uh they're not getting nearly enough revenue to service that debt and they're they've been attempting to like

front run uh the debt by selling future production of real estate that's never going to get built and so there's many in the high finance world and in the macro landscape that are that are saying hey this is a canary in the coal mine this may be a lehman moment for the chinese economy but there's also individuals saying that somehow this company is leveraging stable coins to as i forget the exact term uh somehow they're leveraging stable coins uh what is it i can't think off the top my head but um to perpetuate this the ponzi that they got going on so that's something you're aware of like if you're holding stable coins particularly one like tether that the u.s government doesn't like just be wary at any moment thinking that peg can break and go to zero similarly the bitcoin

price can go up or down at any moment but uh that's sort of par for the course with bitcoin with stable coins you're expecting them to be stable but they're inherently instable i would i would argue um and everybody's like and i think nick carter has been making this point or maybe somebody else uh but like it may be an alexberg actually like if people worry about like stable coins uh and its effect on bitcoin and the bitcoin price whether or not it's manipulating which i don't think it is at all i think there's plenty of evidence to prove that uh yeah it's been pumping bitcoin since eight hundred dollars yeah the actual worry should be in uh ethereum land where a lot of that defy stuff is sits on a foundation of stable coins and if they lose their peg there

completely borks the the markets and you're gonna get a bunch of margin calls what's even more interesting i don't even know if it's fucking interesting never mind i say it's interesting you thought of it uh when if ethereum forks to proof of stake um i i mean i'm publicly on the record said many times like i don't expect miners to go along with it right you're gonna have um you're gonna have miners stay with the proof of work because that's what you know how they make their money they have nothing to lose to just continue um and they'll fork out the difficulty bomb to do it but since that like i have like tweets from like 2017 saying that was because they said it was going to happen at that time right um since then the growth of tokens and

especially the usage of stable coins on ethereum when there's a fork it forks all the tokens at the same time so the way die goes or the way usdc goes or the way maker goes like the way these big tokens go helps decide which chain is going to continue on and all obviously a lot of those are centralized among the same groups of investors um and they're all very interconnected in the ecosystem so we'll just have what happened all of a sudden all of a sudden contentious forks become extremely extremely complicated like no one i you can't even i can't even picture how that all unfolds um if there is as actually a contentious fork you're just gonna have coinbase come out and say here this is what the real ethereum is that's what they did after the dow

i mean all the like paradigms largest investor and all those dexes and stuff they're pretty buddy buddy with with coinbase as they have the co-founders uh as as one of the the gps there like i don't care speaking of like defy uniswap kyc and users they plan on kyc and users they're just going to absorb uh the traditional financial way of doing things and just bring it to their their shit um but enough eth talk for this week lolly want to get sats back while you shop check out lolly they just raised 10 million dollars uh in a series a uh led by logan paul chantal jeffries and the sway house creators what did i put what i put in the in the list there's like a bunch of celebrities right celebrities is this what the threshold for celebrity these days

logan paul they're celebrities right yeah i guess so chantal jeffries um who's that i don't know do you know who the sway house is are they like tiktokers yeah a bunch of like 20 year old dudes that had a house in la called the sway house uh dave portnoy is good friends with a lot of them i believe um and i guess they have a venture a venture capital arm now who doesn't nowadays tiktok money getting getting vc everyone's a vc now does it sound like exuberance to anybody else it sound like exuberance are any of these these indicators going off in your brain too i'm hearing exuberance exuberance or exuberance but shout out to lolly um been around i'm surprised this is only their series a i thought they would have done more around so um they've done a couple

rounds already i think see yeah they had alexa honahan um and a couple maybe there was like an angel round seed round i don't know how that ashton kutcher invested too he's turning into a complete uh he launched a new shit coin show with uh shit coin nft show with uh mila cunez i think it's his wife right and uh vitalik's in it too yeah yeah um tangential but like that 70s show is one of my favorite shows growing up i'm very happy that ash is it ruined now no i'm very happy that kelso and uh jackie wound up actually getting married in real life it's uh it's a match made in heaven have you watched their new show though have you watched the clips no i watched like one clip it was just cringe as fuck i see people tweeting

about don't watch it'll ruin that 70s show for you probably that's a i actively tried to do that i'm not eric dude where's my car was a classic huge classic um ashton kutcher and we're not gonna go down ashton kutcher senate his history i was thinking discography what's discography for like an actor filmography filmography um sounds right i don't know if that's right but i think it is filmography okay um i'm not eric kita and kita you're you got a weird like uh adrena comb chrome uh fetish in the in the live chat right now it's freaking me out bro um this was a great article and then apparently great twitter spaces uh on twitter i believe it was last night or the night before um can bitcoin be palestine's currency of freedom

by a good friend yesterday during the day his uh bi-weekly column rolls on this was the every two weeks it's on every two weeks so the freaks that are confused this is uh again it gets into our boy gladstein yeah they have like an open-air prison over in palestine um and and he um alex interviewed a gentleman uh a cob uh to talk about like how bitcoin could help out in palestine and it just gets into a number of the civil liberties encroachments in that area of the world and how bitcoin can help it's a long one he's how is he putting out these like tomes every two weeks yeah i don't know how he does it dude's a machine yeah it's into the history of the financial repression um he's building up quite a little catalog there with

bitcoin magazine yes he is we're gonna have like the gladstein editions thank god for special edition in print thank god for alex glad he is the he is the he's the face we need in front of all here we're gonna put i said that if we're gonna have any single person on joe rogan gladstein's the one to have on joe rogan yeah joe if you're listening i know you're a big fan think about it he's a ride or die he's been he's listened the whole episode up to this point just to hear it we're gonna link to that in the show notes um this is pretty fucked up and highlights why uh the collection of data should never be trusted by any corporation or government

entity um for that matter an ex-police officer in paris was arrested and is going to prison uh for uh just taking information that uh his department had gathered on individuals and selling it on the dark web he was doxing people for like 300 euros a pop on the dark web yeah so that's what happens when governments have databases of people when he was doxing informants right so like i don't think it was just informants like i think he was doxing just people with criminal records police officers like all fair everything hey they need this information though it's to keep you safe they're going to get your information they're going to turn around and dox you on the dark web

so those people can come attack you either monetarily or physically in the real world they need all the data, give it to them they're going to take care of it, they're going to take care of you it's what they're paid for, it's what the taxes pay for it's to take your information and sell it to the dark web enjoy it slave

Mac malware steals telegram accounts this does not sound good it's mac os so this is desktop uh there's a computer you're currently using yeah it is mine's not updated so it's probably stealing all my telegram data right now i'm using chrome as well so lovely i think that you're still protected if you use the telegram two-factor password which is a separate password that you have to use to restore your account download that and use that if you haven't already it's in the settings if you're using telegram you should set that regardless yeah um but that's just more of a psa it's just a run-of-the-mill trojan be aware

i think it part of it is like how telegram stores the data on your computer is like kind of exposed yeah um speaking of leaked data breach databases uh the life cycle of a breach database uh by our our boy krebs on security not to be good krebs good krebs um this one was cool i think i think some like i'm glad he put this together like this is uh more relevant than ever yeah he talks about the ledger database correct i mean he he talks about just like the general premise of when these breaches happen like you don't usually get notified for a couple months so like what happens in the immediate following of it yeah um goes into phishing attacks um sim swapping all that type of it um here's the advice you give at the end avoid clicking on links and attachments and email

urgency should be a giant red flag all i do is click links and attachments and emails that's what they're for make sure you trust the person you can't trust it there you should never click links and emails but i mean attachments attachments is a harder one don't reuse passwords phone based phishing uses hacked databases too so be aware of that shout out to Krebs the good Krebs

not the one trying to regulate cryptocurrencies very confusing they have the same name thought they were brothers and there's Krebs brothers that's it we got for the list but we got time to riff here so the price is up the fight is on

how do we prepare the freaks or where are we mentally what are we preparing for how are we fighting back how are we how does this affect bitcoin like is is this news bullish because bitcoin is more regulated and therefore more acceptable as a currency of choice or an asset of choice as some people want to deem bitcoin um is number going to go up because of more regulation there's a lot of uncertainty in the regulatory landscape this would bring more certainty clarity and therefore allow institutions to plow their money in freaks if you want me and marty to answer a question here in the live chat just drop a question in the live chat um marty i the saddest part is there's so many people in the space

especially wealthy bitcoiners that are running regulated businesses that do believe that it is bullish to have more quote-unquote regulatory clarity um and it is people are going to follow their own incentives and bitcoin should succeed regardless otherwise it was doomed to fail to begin with yes yes they're going to pitch it they're going to pitch it there's bitcoin is for enemies there's enemies in the bitcoin world who want to make it uh above board palatable for the christine lagarde's the augustine karstens emmanuel macron's the justin trudeau's the joe biden's oh i've got a couple other things i want to mention um it does one interesting uh development today compass mining disclaimer sponsor of the interview series in the newsletter

uh announced a partnership with kingdom trust which offers bitcoin ira services if you're using compass uh and you want to send your sats to a tax deferred ira you can now do that i think that's pretty cool obviously well the kyc aml regulatory disclaimers come with that um fact but how does that work you can stream your sats mine your sats straight into a tax deferrable ira roth ira and you still pay the income tax but you don't pay the future cap gains right i think you avoid the income tax you i don't think you'll put the income tax i could be wrong or maybe it's like a lower income tax um if you put your income in a tax deductible ira you pay the income tax is it is the ira our iras uh pre pre post tax or pre-tax income tax i'm telling you i don't know

I don't have an IRA. I don't either. All in freaks. Okay. And I'm getting, I'm getting yes on no income tax. There's a, you pay tax when you withdraw.

There's a lot of miss. There's a lot of, we're not tax attorneys. We are not. I am not your lawyer. I am not a lawyer. Um, so I like the clarification.

Yeah. It's not your lawyer or a lawyer. Yeah. um that's just cool there is tax benefit no it's post-tax let's say it's tax but there's it's a tax beneficial way of of oh ira is pre-tax roth is post-tax okay if you have an ira you're short bitcoin exactly are of the irs i agree with that well i mean vanjers thing makes sense yeah your key usually if you have an ira it means you're you know you're working like a cubicle job somewhere that gives you it as a benefit right

yeah exactly as you can see my cube here is um not really professional and i don't have an employer offer me i think this is like the time i didn't know what a heloc was yeah that's what this feels like what was that uh it's a home equity line of credit and i will never forget it yeah yeah um rad vladdy's oh uh giving the caveat this is only for new setups not pre-existing hardware uh so what the fuck why i don't know don't you have to ask the compass guys um another thing that came out and after i tweeted this hester pierce followed me on twitter which creeped me out a little bit but um gary gensler is coming out uh and he wants to give clarity the sec is now going to have climate guidelines for companies the sec the securities and exchange

commission which is supposed to oversee the the issuance and delivery of securities now has climate guidelines for for companies that fall under the purview of the sec seems a bit odd it seems like an overreach of of what they're supposed to be doing yeah really i'm really not surprising at all no but esg creeping i wonder how long hester takes to unfollow you right yeah should we do you want to do an over under let's see if she still follows me now over under oh yeah first check 24 hours uh let's see what what was i tweeting about today i was shitting over you're tweeting about today over and under i would say over under six weeks would be my line.

Hester, if you're watching live via Periscope. Do you want to take the over or the under, Marty? No, you're not allowed to take the under. Yeah, she's still following me. Do you think she'll still be following you in like seven weeks? Yeah, you know what?

Yeah, she's going to be following me because she wants to know. Freaks, we will revisit this topic like as the weeks go on. That would be – it's going to be like September something. We'll see. We'll see. I'll just have like –

Mid-September. I'm just going to have a freak out on Klaus Schwab one day, and she's going to be like, oh, my God, who the fuck is this dude? Why did I follow him? Why do people listen to him? 90,000 followers? Are these people fucking crazy? Marty, when difficulty all-time high?

Oh, that's a good one. the second half of next year. Decent line. The migration would be awfully slow if that's the case. I think it's going to be awfully slow. I think you have a combination of lack of capacity globally to take on the influx of potential miners, the competitive nature of the mining landscape

where even if there is a bit of capacity, maybe the miners who are well positioned in other parts of the world uh would prefer to have cheap asics than to host somebody else's and then another factor being uh the chinese miners themselves holding out hope that the hundred year ccp celebration wanes in a few months and after which they can plug their their money isn't that unrealistic no um are they like realize they're they fucked up uh yeah right yeah it is a big fuck up like if it's true and they're not 51 attacking and then i guess like the fourth thing would be there's probably some of this hardware that's just not really even worth shipping it's just like in horrible shape

just completely they're just ditching all those has run ran into the ground right and just like that hash is just lost hash for now yeah oh is the chinese attack on our grids uh is this a chinese attack on our grids with a flood of miners no we're attacking our own grids by decommissioning energy sources with that being said be on the lookout tomorrow i'm going to cross post this episode it has nothing to do with bitcoin but it it's very it's a very important conversation about i interviewed you see this from gamcast oil field services yes uh chris right i mean it's filled with facts i shared their um their 2020 report on on the importance of energy for like people don't understand energy markets energy extraction energy delivery grid systems

how it all works they just larp that's the thing about it there's so much hypocritical bullshit again a perfect example is the biden administration their push like again it's nothing something else we can the the civilian climate corps right they're gonna biden administration with this infrastructure bill i believe is going to create 1.3 million jobs uh and they're calling it a civilian climate corps that and it's literally they're hiring 1.3 million people to go and knock on people's doors and tell them how bad the climate emergency is despite the fact that climate related deaths have fallen by 98 percent over the last 100 years that being said though again the hypocrisy the look what they do not what they say like the politicians are like oh climate

change affects the poor the most like we need to transition to these green energy sources asap or or the world's going to burn and the poor are going to be worse off than they were before and it's like well actually it's the exact opposite these are increasing electricity prices for poor people electricity and water are two of the vital things to pull people out of poverty cheap electricity specifically helps third world countries pull themselves out of poverty and be productive and join us in the developed world and you're doing it here in the quote-unquote developed u.s I mean, we talked about the Indian Point in New York. You're just raising electricity prices for people all over the city, lower income people all over the city.

It doesn't help them. It hurts them, the policies that you're implementing. So tomorrow I'm dropping that on Gamcast. I think I will cross post it on TFTC because it was very informative conversation. And I think you guys would get a lot of value out of it. And freaks, if you're considering mining at home, which you should consider, it's a great way to get KYC free Bitcoin. i don't know if i plugged it last week but two weeks ago i had a dispatch with ronin miner diverter no kyc and uh econo alchemist and people have found it very useful

and that's all the focus that was was just home mining just mining at home with home mining the biggest warning i'll give her is like just make sure you understand the electrical specs of the miner before you buy it yeah compatible with your house and we talk about that for like an hour but but ultimately freaks like if you have to pay an electrician 600 a licensed electrician so you don't electrocute yourself like it's not the biggest expense in the world no um just get a licensed electrician to do it because a lot of people do electrocute themselves um i had a friend who was a licensed electrician and he electrocuted himself uh not setting up a minor just doing electrical things you know like electric's a bitch you don't know fuck with it it's like even in the

mining industry like there's mining companies that don't understand the nuance particularly in the off-grid stuff they don't understand like that the what's miners and the bit mains and even different models of what's miners and bit mains have different electrical makeups which you know i mean back in the day you could just plug it right into the outlet like you just get an amp miner just plug it right into the outlet yeah like a great american mining for our containers we have to depending on what miner we use we have to design our electrical infrastructure specifically for certain s19 requires two 220s yeah it's a lot on it on his independent circuit anyway um our dense machine right there before i forget kita in the live chat and this is why i said

oh in the middle of your comment was because he he just shed some light on the compass ira product and it makes a lot of sense so you take your post-tax ira funds that you already have and then you buy a miner through compass with your ira funds and then all proceeds go back into your ira that's why it needs to be a new that's why it has to be a new miner a new setup because you have to use your ira to purchase it agreed i agree that makes a lot more sense thank you for the clarity kita it seems like the adrenochrome has been been firing your synapses today what pool does great american mining use i think it's a public we've talked about it before slash pool right now do you actually control that or does the individual well operators choose where it goes

we choose we we prop mine for ourselves we just go to the operators and say hey let us buy your gas okay so do you don't do you have any clients that actually mine or you're just hosting your miners there yeah fortress technologies which uh the company that uh we did the big partnership with starting in we announced it in april uh that's essentially like we're building out infrastructure into a rev split we're finding the gas and setting that all up there are producers that are willing to give up gas um in favor of bitcoin rev split um so we do have certain producers who are Bitcoin risk on that want to do that

and they just say hey we trust you guys as the experts to operate this stuff let's do it yes Demi I am connected to Great American Mining if you couldn't tell where the fuck has he been how did he not

know that they're on our website you can go to gam.ai and go to the store do you sell helmets yet uh not yet where that's like a very um very capital well not capital intensive charge more for them yeah um when nuclear powered mining i mean there already is nuclear power mining greenwich just announced that they're doing something in south carolina on nuclear i would love like austin um our head of engineering he's uh he's he would do nuclear

represented itself in a second it is um an ideal way to mine most energy dense source that we have again these people don't care about clean energy it's the cleanest source of energy potentially that we have on the planet and they're actively decommissioning nuclear power plants for reasons that make no sense at all they don't care about the environment if they did they would be spinning up nuclear power plants not decommissioning them um i'm a big nuclear bull i think we're going to get fission i think we're going to get thorium reactors i think um nuclear is the future beyond oil and gas um it's just whether or not we get the political will to make it happen and we tear down all the red tape that currently exists for for people want to spin up nuclear options

uh nuclear facilities excuse me gam crocs no uh we work in the oil and gas field and you need steel what about gam car hearts what are car hearts you don't know what a car heart is i don't think so it's a brand they make like all the outdoor gear um wouldn't be surprised about like dope jackets won't be surprised if austin has has some custom gam gear i love austin i haven't seen austin in a fucking minute i'm jealous you got to see him in miami yeah it was pretty sweet he's the he's a fucking bass bayou boy i'll tell you that what else we got here yeah the s9 is just normal wall plug you just plug it into a wall and you just plug it into ethernet but it also is like gonna generate like 30 cents or like 25 cents a fucking day and it's gonna probably cost you more

in electricity because they're not that efficient but it's a good way to just learn it's a good way to just get your feet wet yeah i'm gonna ask that question and i answered it i just had something to say i completely went blank um i don't shop at target should we wrap this bad boy up wrap it up I think we answered a lot of good questions and some poor questions, but we answered them. Just under two hours here. Freaks. Like we said, the fight seems to be upon us.

Are we at the then they fight you stage? I would argue we've been there for a while, but it just seems more overt. We're in the frog boiling in the water stage. Oh, the water's fucking bubbling. It's bubbling. They're coming. They're coming for your sats.

They're coming for your wallets. They're coming for that ass. They do not like you. oh now i got the great american mining uh account fucking tweeting making fun of me what is a car heart you deserve that all right um yeah thank you guys for joining as i mentioned uh the btc pay server is back up i'm sorry about that uh if you guys do want to purchase shout outs obviously you can do that now um if you're listening via a podcasting 2.0 compatible app and streaming us sats i want to thank you dearly it means a lot that you would

part ways with some precious sats to support our show and what we do um we love you guys it's uh we do this because we think it's vital uh maybe i went on a show yesterday like they were like why are you a bitcoin it was like because if we don't have this in our future uh the world is going to suck it's going to be terrible we're all going to be enslaved in some an open air prison if you will data slaves data slaves failure is not an option i love you freaks if you're not using your own node learn how to use your own node if you're not holding your own keys learn how to hold your own keys it's imperative that you do these things never stop learning just keep progressing forward help your friends and family um i know it can seem dark right now

but i'm optimistic for the future i think we can fucking pull this thing off and uh i love you all love you all too peace and love freaks