TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Bitcoin Week of 2021.08.09

Episode Date: August 13, 2021

This week Marty and Matt discuss: - infrastructure bill amendments fail - beyer bill proposed - large number of potential malicious bitcoin nodes graphing the network - compass mining provides $80K grant to Jon Atack - bitmex pays $100M to resolve charges with CFTC and FinCEN - lightning addresses using lnurl - phoenix v1.4.15 - specter v1.5.1 - trezor suite v21.8.1 - btcpayserver v1.2.0 - mining bitcoin at home - cuba and bitcoin by gladstein - lightning liquidity management guide by lopp - bitcoin 2022 april 6-9 in miami beach 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 Ben here to introduce this episode of Rabbit Hole Recap. Matt and I just had a very high quality, almost two and a half hour rip. A lot going on, I'm practicing my ums and likes and uhs, trying to drop them out. Let's hope I don't have any in this ad read. Speaking of the ad read, this rip is brought to you by our good friends at the motherfucking Cash App. Cash Apps help you send sets, receive sets, buy sets, stack sets, excuse me. and sell sats if you so please we're saying sats sats sats sats sats because sats are the standard there's 100 million sats and one whole bitcoin you don't have to buy a whole bitcoin you don't

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If you don't want to spend any money, you don't want to jump in. The deep end right away, they have these free one-on-one consultations, consolation so you can go check those out this rip was also brought to you by good friends at hodl hodl hodl hodl is here to provide a lending platform for you freaks anywhere in the world this is a one of the rare hodl hodl products that's available to u.s citizens it is their lending platform lend.hodlhodl.com and basically what allows you to do is to get liquidity stable coin liquidity for your bitcoin you put your bitcoin up as collateral in a two or three multi-sig escrow account again leveraging bitcoin's native properties in its multi-sig

properties hodl hodl is taking advantage of that as well and the way they do it this is a different two or three multi-sig scheme you hold one key the counterpart in your trade holds the other another key excuse me and hodl hodl holds the third key you don't have the same control over your bitcoin that you do with the unchained vault product however since you hold one key in that two or three multi-sig setup you always have visibility into the wallet so that you can ensure that your collateral is not being rehypothecated you know that it is where hodl hodl the hodl hodl lend platform excuse me says it is and you're going to get your sats back at the end of the day if you're paying your loan back plus interest speaking of loan back plus interest if you want to be part of

that interest part and you have stable coins laying around you want to get some yield on those you can put those up for offer on this lending platform you put your stable coins on up uh bitcoin are looking for liquidity puts their bitcoin up as collateral you give them the stable coins and they pay you back your full principal plus some interest on top of that so go check all this out at lend.hodlhodl.com l-e-n-d dot h-o-d-l h-o-d-l dot com again available to u.s citizens no kyc no aml you're just meeting with counterparts on the hodl hodl platform leveraging bitcoin's native properties to create financial services lend.hodlhodl.com last but not least this ripper is brought to you by our good friends at brains brains brains os plus what we're showing

today the firmware but before we show it we got to let you know that slush pool had an update a few weeks ago you probably heard if you've been listening to the show for the last few weeks but however if you haven't caught the show and you're using slush board think about using slush board has had a recent update which 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 all right now for the juicy stuff brains os plus firmware has been updated includes full support for the amp minor s17e and t17e as well as some significant improvements to the auto tuning for all x17 devices and it's available now on brains.com

slash os slash plus important psa brains is spelled with two i's b-r-a-i-i-n-s dot com slash os slash plush another not slash plush slash slash plus brains os plus is compatible with any mining pool so you don't need to mine with slush pool this is important a lot of people think if you're running the brains os plus firmware that you need to point your hash rate at slush pool this is not necessary you can point it at any pool you want however if you do point it slash pool with brains os plus firmware running you are going to get zero percent pool fees that's the big there if you do want to point your hash at slash pool you're going to get zero percent pool fees we'll note personal note have noticed slash pools had very uh

very nice pool luck in recent weeks very mine a lot of blocks since network has traded at one year lows i wanted to say something there I decided against it since network is at one year lows due to the china crackdown that may change well we're off lows and we may go even further off lows there's going to be a difficulty adjustment at some point overnight however it's still well below all-time highs if you want to juice up your your asics with firmware just get more sats for your hash brains os plus firmware is here for you for those of you don't know how it works it mostly comes down to the silicon and the hashing chips there are small

variations in the silicon quality for every chip in an asic typically stock firmwares that come with machines treat the entire device as a uniform unit sending the same frequencies and voltages through the hash boards brains os plus boost performance by experimenting with different frequencies and voltages on 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 this per chip tuning is more hash and thus more sats per watt of power consumed brains os plus firmware currently supports the amp minor s9 s9i s9j as well as the s17 s17 plus s17 pro t17 t17 plus and the ones just added the s17e and t17e they keep saying next up are what

The What's Miners with the S19s from Bitmain as well. What's? What's? Just a light whip. Come on. Stay tuned, TM, for more updates on the firmware and slush pool. And check out Insights. That's I-N-S-I-G-H-T-S dot brains, B-R-A-I-I-N-S dot com

for content, stats, charts, and mining profitability tools to stay on top of everything happening in the mining industry. Enjoy this rep too. it's a good one slow news week great rep always love those you've had a dynamic where money's become freer than free when you talk about a fed just gone nuts all all the central banks going nuts so it's all acting like safe haven i believe that in a world where central bankers are tripping over themselves to devalue their currency bitcoin wins in the world of fiat currencies bitcoin is the victor i mean

that's part of the bull case for bitcoin if you're not paying attention you probably should be we are recording freaks what is up freaks that are listening via the podcast apps we're not live what is up freaks on the internet yet and now we are waiting waiting waiting waiting waiting we're still recording we're not live yet we got uh some filler matt we need some filler what are we doing now we're now we're live now we're live what is up freaks on the live stream welcome back i didn't have anything matt had no filler no uh you freaks will be nice uh excuse me excited to find that that matt and i are drinking the same drink today i have a little coronitas coronitas isn't it just corona yeah it's like a seven ounce guy oh i like the little ones

makes me look like andre the giant ah what a week you got the fresh cut week two of the fresh cut i have a haircut scheduled for tomorrow at 11 30 a.m not that anybody need to know that but i'm looking looking forward to it i desperately need a haircut i'm bad with the haircut schedules i usually wait like six months i'm like all right it's time yeah i just get lazy about it to be honest same it feels so good once you do it but i just get really lazy about it yeah every time i do it i'm like i'm gonna do this once a month from here on out and six months later it's like you know it's time to get a haircut so tomorrow at about 12 15 eastern i'm gonna be like all right i'm gonna get a haircut

a month from now and that haircut probably won't come to fruition matt you're just describing how you feel like the the atmosphere on twitter is reminiscent of april 2020 things are getting catty out there it's just all so divisive there's so much fighting yeah it's exhausting i know i just want to tune out but then at the same time we have a weekly new show that we've been running for almost three years now so am i kind of locked in dude when is it august 12th next week maybe our three-year anniversary the week after we started at the end of august early september didn't we we're usually horrible about anniversaries so usually a freak reminds us through a shout out if any freaks uh remember uh the day i'm sure we

can find this out pretty trivially by going to a podcast app but uh it is uh coming up on our three-year anniversary it's hard to believe these years fly by man time flies when you're having fun here cheers brother cheers freaks cheers to you guys we're just here memeing a new global reserve currency into existence we're doing this together we couldn't do without you freaks so thank you for showing up and speaking of showing up how do we start the show we started with clark's dashboard which is currently telling me that the price of Bitcoin is $44,470. One CUC buck is going to get you $2,249. The current market cap of Bitcoin is $835.3 billion.

So it seems like we've broken out of that consolidation. We touched $46K earlier this week. We're out of that $30,000 to $40,000 price range. No predictions from Matt. No predictions. $200K by conference day, BitBlockBoom. By BitBlockBoom? yeah we're only 31 and a half percent off the all-time high which according to clark's dashboard

is sixty four thousand eight hundred forty dollars um gold fell this week so we haven't mentioned this stat in a while but one bitcoin 25.3 ounces of gold in the bitcoin verse gold market cap is at seven point two nine percent which is pretty high uh speaking of high we're at the highest block height of all time all-time high block height right here at six hundred ninety five 460 nice and even 89.45 of every bitcoin that has been will ever be distributed to the network excuse me has been distributed to the network and guess what matt you're gonna be happy hash rate has joined the network we're 60 blocks away from the next retarget which is scheduled to be uh at some point early in the morning east coast time

tomorrow august 13th 2021 and we're expected to have a 7.4 percent upward adjustment and that is is pretty safe pretty safe to uh assume at this point that we were the worst case scenario of a state attack from china is completely out the window out the window completely out the window i think so yeah all right you heard it here first from matt odell i'm not i'm not gonna another horrible prediction i don't fucking know i don't want to jinx it but but yeah this is exactly what you'd want to see right yeah this would be and you're seeing it on the ground right i'm hearing all these reports on the ground that there's a lot of hash being plugged in in america we plugged in about 30 more than that uh about 40 had a hash this week alone at great

america mining um three containers went live in north dakota uh tease that a little bit on our twitter page we're actually i was telling you matt before i can't get into too many specifics now but it's a really great story um with this particular producer that we're helping mitigate flair uh makes me makes me proud to be part of the great american mining team we helped a producer need and we're we're able to mine bitcoin properly while helping the environment um or be more better stewards of the environment reduce energy waste be more energy efficient um i just i think it's hilarious that like what gold dropped like five percent on sunday yeah and like bitcoin twitter just like completely stopped what they were doing and they just started shitting on gold

like okay guys hey hey bitcoin twitter just be nice to the gold bugs we want them philosophically we're aligned probably like 90 nah fuck the gold bugs yeah gold's a shit coin okay breaking news uh michael karras the bitcoin rabbi is tweeting about us breaking news adele and marty bent pay for haircuts so we're short bitcoin it's true yeah how do you know i was gonna pay for my haircut i mean you said you had an appointment yeah my cousin down the block He's going to hack me up. Currently, Clark's dashboard, there are 2,299 transactions in his mempool.

The mempools are basically empty. Send your one set per byte transactions, please. But I mean, hash is going up so fast. Yes, that's a good point. It was more worrisome when hash was going down the mempools the mempools are still empty but still but just look at a an interesting theory that was brought up during that period uh post migration news a theory that was floated but i haven't seen being talked about much since i first saw it was maybe chinese miners chinese mining

pools were spoofing transactions to increase yeah um it's something i believe they were also i think think they were strategically pulling hash remember there's all those big hash pulls that were happening yeah i would like to see if there's any uh research that could be uh i think we were being fucked with and now we're all katan and i'm never gonna pay over one step or bite ever again uh never say never i think we've we've learned that lesson here so it's time for a bieber quote is that a bieber quote i think it's his song isn't it i don't know i don't know i haven't listened to much bieber recently i heard he's on a nice virtuous path though these days i'm happy to see if he's happily married uh trying to be a good man i like to see that justin uh samurai

whirlpool unspent capacity above 4k at 4029.93 bitcoin that's 179.2 million cuck bucks worth of liquidity um so it's approaching 200 million cuck bucks pretty quickly blew past 3 000 i feel like we were only there for four or five episodes yeah number go up number go way up um flame war is still going on saw some more flame wars this week did not participate yeah i noticed that too i'm very proud of you and it's i'm exhausted they're exhausting again i will just reiterate this for everybody engaged in the flame wars it just makes everybody um confused and maybe unspent capacity where i'll pull wouldn't would say otherwise but uh it turns people away they don't they don't want to use either um but hey

no matter what i say the flame wars are going to continue no matter what i say where should we start matthew infrastructure bill yes yeah infrastructure bill seems to be that was the news of the week right it was the news everyone called their senators supposedly but uh didn't do shit didn't do shit all right let's get into it heavy topic uh so we had senator shelby from alabama who's on his way out going to retire at the end of his term he's got a replacement behind him and he basically cucked the whole amendment i don't even know what i think it was the lummis warner there was just no voting on any amendments whether bitcoin related or otherwise yes because shelby was pissed that there wasn't 50 billion dollars uh in in military

spending that he wanted included in an amendment that he pushed for supposedly but also his largest donors are our banks city bank um and others and so let's get into this i mean let's get into it marty we touched on it briefly last week but like janet yellen the treasury i think that's like the treasury is the one who wrote the language many are saying uh for the particular provision that that is going to affect bitcoin and the overall cryptocurrency landscape which is highlighted an interesting debate that i think should be dragged out into the public and into the mainstream media though it probably never will be like what the hell is the treasury doing writing language or suggesting language

for a bill that's supposed to be voted on by members of congress in the senate and the treasury is unelected and should have no say or influence on the wording of this particular provision or any bill for that matter what does that say do we live in is this don't do it marty are we free do we have a representative democracy is a representative democracy is this a free country are we even in a free country i mean there's a spectrum there's a lot of worse countries to be in yeah there are but they're just all corrupt the whole thing is just super corrupt and you know the industry players in in in the bitcoin and i guess the wider crypto industry

i just don't you know well that's i guess i think people kind of expected that they would embrace the corruption more um but uh what do you mean like lobby harder with money it's just like all the politicians are just getting paid off one way or the other right and what happened to the meme like we're gonna buy our politicians we have like three we have three you know great senators and representatives congress people but they're like not bought off they're just ideological which is great i think it's good to have ideological supporters certainly is but yeah it was 2700 pages of corruption they didn't even vote on any amendments that's that's they barely

read it and they still had some changes and they didn't even they didn't even vote on them Well, that's, again, before we hit record, I we talked about this, like, I was a little, I want to say angry at myself, but I felt annoyed that I had to cover the infrastructure bill in the bench, like, like, three to five times in the last 10 issues, which is something I tried to avoid not to be repetitive on a particular topic in a short amount of time. But it's just like, it kept unraveling. And I kept thinking

about it, and especially thinking about in the context of the reaction from the like bitcoiners and bitcoin lobbyist in dc like why are we like it's the whole infrastructure bill outside of the like with the bitcoin provision included it's just complete bullet like why are we even and like from right from the beginning it was like oh this is like the best we're gonna get you know it's not even and i've been i've been on twitter i've been trying to i think like a really good analogy is is gun ownership in america and you know the nra whether you love them or hate them they have a hard line right they have a super hard line they're like we're not going to negotiate these are certain things that we're just not going to negotiate

um specifically a national registry of firearms and of gun owners uh lists of gun owners um but meanwhile in the wider crypto industry specifically but also permeated through the bitcoin industry there's like this insidious thought that oh we can just appease the regulators and our bottom lines will go up and the price will go up and our revenues will go up and it's just hollowing out everything that i think bitcoin stands for it's you know there should at some point you know you have to draw the line you have to be like no yeah i'm not going to wrestle with pigs i don't want to get dirty i don't want to get like all this shit on me it's just wrestling with pigs and like the the amount of pre i want to say i mean i had a twitter thread and basically caught there was a

lot of condescension from the lawyers on capitol hill that were like going to protect and lobby on behalf of bitcoin and cryptocurrency toward individuals like the plebs if you will saying like just scrap it like don't even like play this game like it's stupid to negotiate with these people they're corrupt and they're not even writing these laws it's written by lobbyists like don't play that game and like the condescension the condescension coming from like the coin center team particularly it was like are you kidding me like it was like oh you guys don't even know you don't even know it's like no we do know this whole game is fucking corrupt like don't play it and that's and part of that thread the back half

of that thread again and so it's like a difference of what many bitcoiners think is the the best strategy to attempt to get quote-unquote regulators or state entities on our side and i don't think regulatory clarity yeah i don't think you're going to get that by trying to push things through the house and the senate i think again i've been saying this and beating this drum pretty hard for the last year it focused on states focus on getting states to get skin in the bitcoin game particularly via putting bitcoin on their state treasuries or getting skin in the game by investing in mining infrastructure and using their natural resources to to produce revenues denominated in bitcoin that can be rolled into something like a permanent fund like i think me personally i think

that's a better and more it's a it's a strategy that has a higher likelihood of being successful and getting these types of people uh on bitcoin side well look i'm fine with a lot of different strategies happening even if i had no intention of calling you know senator schumer uh to voice my support for uh proper bitcoin regulation i mean they're requiring papers to go eat dinner i don't i don't think they're gonna have sane policies in terms of bitcoin um but at the same time um i respect the fact that there's a lot of different bitcoiners working on different strategies for how they think you know can best help and there was a lot of friendly fire that was happening in general on both sides um which you just kind of hate to see especially as we're

were getting stamped on i want to make it clear like i'm not i'm not saying that anybody's efforts are like foolish or anything like that i just think like the condescending tone towards people are saying maybe this isn't the best strategy was a little off-putting um i mean strictly speaking i think the best strategy is taking sovereignty over your bitcoin usage yes using it with privacy best practices and running your own node and using your own node and avoiding kyc as much as possible um i think that's practical i think that that has practical change instead of expecting our corrupt political system to uh like this is not new they they pass horrible regulations on all sorts of industries and things we just have a front row seat for this because we're bitcoiners

well in this whole ordeal i think i might have said it last week but I'm not afraid to repeat it now just having flashbacks to what radicalized me as a 17 year old was sitting in my elective economics class as a senior in high school and reading through the TARP bill it's like the exact same type of not the exact same type of situation but a very similar situation in which you have this omnibus bill that is marketed by DC as something that is completely essential to getting past for the survival of the american economy tarp it was to save the banks and buy those toxic assets and with this infrastructure bill is to save the economy to get jobs out there and to help begin greening our economy which is another thing i mean

we read some of the provisions in the bill last week like they're doing studies to begin figuring out ways on how to tax people per mile driven on the road which is insane they literally want to tax your movement um in cars that you own so it's all fucked at that level like again lobbyists are writing this there's no they don't even like pretend like they actually care about the american people or or doing things in their benefit they think like again like we said last week there's no possible way they could have read those 2700 pages in time allotted how many of them do you think have sent a bitcoin transaction zero i mean whoa i mean this is uh they haven't even tried buying bitcoin on robin hood they're not even they haven't even tried

custodial cuck bitcoin yeah they haven't even read like a shitcoin wave yet they're they're not even trying to tell you that cardano is better than bitcoin yet that's like they're not even at that level at basic level and highlights another point is like ted cruz the only one speaking sense throughout this whole thing as it pertains to the the provision on on cryptocurrency he said exactly what you said there's probably less than five people who actually understand he's like i don't even understand it right he's like i don't want we shouldn't be regulating something we don't even understand i don't understand it who else understands it here yeah i think the the whole ordeal highlights what you just mentioned is

what's going to be more effective calling your senator and begging them to get the lobbyists that wrote the provision to change it or plugging in a node running a node using a node acquiring sats putting them in a wallet you control trying to get them via avenues that don't kyc aml data collect on you and if you want to do the politics thing once again we should take a take a take part of the nra playbook it should all be constitutional you know first and fourth amendment those those are amendments like the gun the gun owners have the second amendment we have the first and the fourth yes yes and and that's where the fight should be if you want to do it politically in my opinion just a guy's opinion um but yeah i mean the whole thing kind of just

it was all framed as like make or break and then it broke and and then bitcoin's still ticking along all these things aren't supposed to go into effect until 2023 um if that right and i mean this is i i expected much worse than this much sooner than this but the expectation has been here the whole time like the the governments are not just gonna sit by and let you know freedom money erode their power without some sort of fight um and that's what we need to be prepared for completely agreed and i know you don't like when i get bombastic like this but the time for civil disobedience is nine like if this stuff goes live in 2023

i don't want to speak on behalf of the great american mining my co-workers go founders not it's horrible for miners yeah exactly like fuck you i'm not unplugging this shit like we're we're helping reduce methane emissions and we're paying our taxes like get the fuck out of here it's literally logistically impossible literally to kyc or hand out 1099s to people transacting in a block that you might and then you get into like the nuance of it like all right how does this work uh is it only a block that literally one of the miners that i own in the containers that finds the hash that enables them build a block or enables slush pool to build a block and broadcast it to the network is

not the only time i have to share this information and hand out 1099s is the the onus on these mining pools most of which are domiciled outside the us like how does it it's not even enforceable it's like elaine use uh and it's like these regulations are too dumb to enforce like so you're just like it's impossible to abide by them and at that point you have the decision all right if you can't do it do you just unplug and go somewhere else or you just say you this is just completely dumb i'm gonna keep doing this because i know it's right i know it's virtuous i know it's just i'm not doing anything illegal you made it illegal and you don't even understand what it is like you like you're 60 80 years old and you're

trying to regulate a 12 year old technology that is the most groundbreaking technology that humanity possibly has ever come into contact with and you're gonna try and kill it in the womb here in the united states of america where we're supposed to be fucking free fuck you no i'm not unplugging shit cheers to that did it did the actual bill actually get passed yet no i don't even think it gets that's the other thing like is it all just like are we getting played we're getting played by the puppets and the masters behind them that was the interesting thing like the fucking price rallied like immediately after it became apparent the amendment wasn't getting fixed or the non-amendments were going through and the original provision was going through as

written i think what do you think that was you think that was market seeing the pushback from the industry and the amount of I think sellers were exhausted because anyone who was a bear got extra bearish because of the infrastructure bill and traders took advantage of that

and pushed the price up yeah it's like classic Bitcoin and there's also probably like a bunch of cucks who are like regulatory clarity there's like people who think it's a good thing um that own bitcoin so those people are very short-sighted i would i would say and speaking of bills staying on this uh buyer what's his fucking name from the house of representatives

virginia democrat from virginia democratic representative from virginia has proposed a bill digital asset securities under the federal securities law i'm trying to read trying to read bills right now um worse than uh worse than releasing it but essentially uh what would this bill do specifically again so big the big thing joins coin joins out the window no no so first of all the big thing is for the shit coiners um they go after stable coins in the bill yes they're um so stable coins that are not approved by the treasury i think it's the treasury aren't allowed and it also sets the groundwork for being able for the central bank to issue their own uh cbdcb um but then on the bitcoin side there's a provision in there for kyc regulated exchanges

to track people that are using money mules they call it money mules this is their terminology also a beautiful part of the bill is all these definitions are defined by the treasury department money mules um which i assume is like a professional money launderer or like that's what it's meant to be if you look it up on like wikipedia that's what it says um users of and anonymity services um which to me reads more like mixing services custodial mixing services which have been a major target to begin with um coin join isn't a service coin join is a bitcoin send transaction with with uh privacy best practices but i'm not saying the treasury department isn't going to say that coin join falls under there they can say whatever the

they want and then the third thing was i what do they call it an anonymity enhanced virtual currencies which they mean like privacy coins primarily monero in this section the term virtual currency animizing service money mule an anonymity enhanced convertible virtual currency right and those definitions are set by the treasury department um and i guess if uh regulated service sees that you're using any of those three they're supposed to track you record you share your shit and deny you future service in this proposed bill which is not being voted on or anything yet it's just a proposed bill but this is what we should expect i mean this is just going to happen more and more and what's the the expectation i have is that ultimately basically

private bitcoin ownership and usage will be de facto criminalized and that's always been the fear uh it's always been the assumption though right but like what's the other what's the alternative you're just gonna you're gonna just sit there with like your cuck version of bitcoin like that's a ridiculous i i don't i don't understand i don't understand the bitcoiners that are just cool with that and like like i guess you're like technically holding your keys name name like who are these people you don't have to name names i want to put you on the spot there's a lot of bitcoiners that feel that way they know who they are it's infuriating number one but it should be expected don't get triggered i'm gonna take a mad odell adage here just don't get triggered if get

triggered you're weak i'm not gonna be weak here but see like this is a perfect example like there's a lot of anger at coin center over this last week about getting you know caught off guard with the infrastructure bill but like there's no doubt in my mind that they're reading this bear bill right now and they're just mounting a full-on defense against it agreed and like it might be futile because our system is completely corrupt but i have no doubt they're gonna try and i'm glad they're they're trying i am too but i also have no expectations of them being successful um at least long term long term this is all just you know buying us time delaying the inevitable yes i shouldn't be condescending that that was really off-putting

agreed but we're at a juncture juncture freaks what are we going to do we're going to stand up and fight like plug in your nodes get your utxs into your possession use these services use bitcoin the way it was meant to be used and we need to start being civilly disobedient like the time calls for it uh said it in a tweet yesterday you know rebellion to tyranny is obedience to god and i know everybody who hates god out there is like oh god doesn't exist but it's like it's obedience to what is virtuous like we rebelling against a tyrannical system which we could argue the whole global government landscape run by the un the ga g7 whatever it is now and i think tanks like the world economic forum is objectively objectively

according to this partner company what partner company yes and coin center is a coin center having them at the dinner like i don't think so are they having the left there i don't know i hope not but honestly like these systems are tyrannical they the last year and a half hasn't proven that to you like you need to wake the up and understand they're getting to the point where they want to completely cuck bitcoin uh and force you into the central bank digital cut box that they want you to use where they'll have complete control they'll be able to see every transaction you you make they'll be able to stop you from making transactions they'll be able to airdrop money into your account they'll be able to take money out of your account they'll be able

to prevent you from spending in certain places they'll be able to say you can only spend here and this is what they want for you and they are beginning to launch their attack on bitcoin it began i would say many years ago with i i went through it earlier this week i wrote something in june of 2019 on fatf and the guidelines that they started writing for virtual asset service providers i i think that's when the war started when they started making guidelines for this stuff the first shot to me was the bit license that is that's good you go back to 20 the license was like 2014 right yes and they're trying to do bit license at the national scale now like at what point do we stand up and just say this tyranny like that's all it takes it's

like these these like you need to embolden more individuals out there who believe in bitcoin the freedom enabling properties that it provides individuals in the world at large to stand up and say no this is right this is virtuous this makes humanity better off and you will not ruin it for the rest of us you old out of touch corrupt puppets get the out of the way get out of the way you go die please i'm not saying be murdered be killed just die let's go lay in your bed close your eyes been a good life leave us the fuck alone there's been a large number of potential malicious bitcoin nodes graphing the network since july 21st i'm sorry did you have anything to add to the end of that no no not no no okay

all right i'm sorry for another go die rant but that's how i feel like just leave us the fuck alone you guys term limits or something your career needs to die maybe that's the more palatable thing to say yeah like maybe like be less corrupt please yeah try could you try to be less corrupt if possible um i don't i don't think so at this point the only way out is civil disobedience and taking what is ours yeah i mean that was never actually gonna happen yeah asserting our rights like it's not waiting for permission hey please sir can i send a peer-to-peer transaction to matthew can you let me do that without having to send him a 1099 please sir please no just do it the p2p network enables it tell them to off just keep hashing

keep sending transactions keep coin joining that's the only way out of this the only way way out of the covid restrictions the lockdowns too is the disobey there i'm not going to get into that though because it triggers too many people many pussies um there's been a paper out by matthias grundman and max balmstark uh basically highlights the fact that july of this year basically last month uh there was a spam of ip addresses that did not belong to actual bitcoin peers i'm just going to read the abstract they found that the behavior of the spamming peers can be used to determine the number of neighbors of public peers and to find civil peers in parentheses peers that have multiple addresses they evaluated the method by running

an analysis based on data collected in their monitor nodes and compare that data to the ground truth based on a few peers that they run themselves the node degree of public peers is found with high precision and sybil peers are correctly classified with high very high precision and high recall if the spamming peers in the monitor are connected to all sybil addresses um basically it seems like there's a bunch of nodes that are just spamming the network to figure out where all the other nodes are located exactly typically if they're running on clear net without tor yeah so they call this like a graphing attack where they're trying to graft topology of the node network uh specifically so

is it good or bad it's i mean first of all we should expect attacks i know but it's an attack is what it is but i think there's a silver lining here it's good in the fact that we're recognizing it right we're able to a month after no it's been happening for a while now has it yeah when i i read it last week i skimmed through last week an unknown party distributed a amount of spam ip addresses in the bitcoin p2p network during july 2021 so it was last month no it definitely has been happening already for a while okay um i don't feel like looking it up right now um because there was there was uh there was a post on the bitcoin mailing list along this similar vein a couple months ago i believe um i know there's like a researcher from

uh uh visa crypto who noticed something similar a couple months ago as well okay but this is one of the reasons you know why you should be using tor when you run your node and you should be using an onion only which is fortunately what most of these you know node in the box implementations are doing anyway they're defaulting to tor um Of course, then, like, I'm sure there's malicious entities mapping out all Tor nodes. Wow. They still know you're running Tor. And the Bitcoin traffic running through Tor is probably, I don't know.

I'm not a network specialist. But I imagine you can see some trends, especially for 24-7 nodes, to kind of determine that they're running Bitcoin because there's so much data. but it's not foolproof what lightning network health here by incentivizing people to run exit nodes so it's less yeah not really yeah no i uh yeah i don't know the the number one defense we have is is uh we don't want it to be illegal in in most places of the world to run a bitcoin node right because especially as the chain gets larger as as usage is higher and mempools presumably fill i don't even know if that'll happen anymore uh it's it's

going to use a lot of data now what does help in the short term if you're in like a malicious area is something like blockstream satellite oh yeah where that's passive you're not actually pulling down any data um and then for broadcast you could use tor um and and that if you do that right it's you know it's pretty undetectable but uh yeah i mean we have to operate under the assumption that that there are people mapping clear net nodes specifically i think yeah they're trying to i mean um i'm going to the paper now to see how far true and we do have i2p support now too so tour isn't your only option although there aren't that many i2p nodes but you got to start somewhere so go do that run an i2p node do that yeah this particular attack only happened last month like

not only last month like three weeks ago july 22nd i'm not seeing anything about past attacks because i'm reading this i only read the abstract in the conclusion like a true researcher uh before we're doing it live yeah it's only a five page paper i don't know i'd like someone smarter than us to to uh hopefully cover this in the future and if they do then we will we will bring it back up i feel like we need gleb to explain this to us i think glad would have uh or matt carolla would have some good insight into this we have uh speaking of i2p this makes me think of i2p because he was a big advocate of it i'm just going to skip to this story um compass mining has provided an 80 000 grant to john attack shout

out to compass mining disclaimer sponsor of the uh the pod in the newsletter uh but this is great to see their compass has come hot on the scene and they're already here contributing to bitcoin core development and this is a 80 000 donation they're doing through the human rights foundation another friend of the pod so good people teaming up to give good people to see it i'm john john is a real one he's fantastic he's doing great work and i'm glad that this is the second grant he's received i believe it's well deserved and 100 we've talked uh about john's contributions before on this podcast but it never hurts to reiterate john does some of the grueling dirty work on the review side of things and helping to coordinate review that is not glamorous

it's not fun it's not what a lot of developers want to do but it's very necessary work and work that ensures that bitcoin is as robust and resilient and secure as possible testing reviewing and making sure that the code that gets merged into Core specifically, that implementation of Bitcoin is user-ready, user-friendly, and hopefully not going to include any bugs that mess up consensus or anybody's experience as they use Bitcoin. So again, shout out to Compass. Shout out to Human Rights Foundation.

Shout out to John Attack, fellow Bitcoin server. Cheers, John. Well-deserved. Very well-deserved. I think you're right. this specific attack was july only so yeah it's good that it got caught pretty quick yeah right that's what i was like oh shit you already wrote a fucking research paper on this three weeks after the attack so shout out to the uh the researchers who wrote that paper to say their names again as i pull this up

matthias grunman and max baumstark i wonder if they're german regional region yeah um bitmex oh this is big i forgot about this bitmex paid 100 million dollar settlement uh with the cftc and finsen um i guess they settled out of court is is our boy arthur free i don't think so i think this is like the first step but uh uh the exchange now is a fully regulated derivatives exchange compliant with u.s law and all kyc aml policies yes bidmex has been cucked on a long enough timeline everyone bends the knee yes binance you've been hearing the binance series you've been talking what's the

binance theory i mean yeah brian brooks stepped down unexpectedly well he didn't really step down he just really went fast through the revolving door yeah where'd he go i don't know wasn't he what was he the comptroller of the currency currency then he was coinbase legal officer the head lawyer at coinbase then he went to comptroller and then he was head of finance us yes and now he's unemployed but he left the conditions on which he left are pretty vague i believe their us ceo she quit as well unexpectedly and hasn't said anything and they've been decreasing their withdrawal limits and increasing verification.

So it seems like Binance is getting pestered by authorities. I'm not sure exactly which authorities. I think I have a good guess. I mean, they're running a whole shitcoin chain now too. They're like, they're really deep. Oh, it got hacked this week too. It was part of that big hack, right? I don't think so.

it's so funny when these things get hacked by the way like i don't i didn't know it existed until it got hacked they're like oh largest hack ever and the hackers supposedly returned most of the funds but i think dear hacker i'm not gonna the memes that came out of that one it's like sending messages how do i get rid of this it wasn't on binance smart chain or whatever they're like ethereum competitor i think it was poly or whatever it's called it was like i i i have like i have no idea i'm not gonna talk on it but i i don't think it was i don't think it was binance smart chain right well that's the thing of the way all these defy things work you can use like multiple assets it's like wrapped and like some assets are being held on ethereum some assets

are being held here but they're tokens and there's a token on a different chain and literally hot potato like throw it here throw it here throw it here and the tether all got frozen right away yeah so tether centralized matt is tether we've always they're gonna be the downfall of bitcoin is tether a free country maybe maybe that maybe they're freer than us man i don't know my dad asked me about that hack i was like dad i didn't even you know know what they were before i was like how are you reading it like how do you even know people love the big numbers oh 600 million biggest defy hack in history the deer hacker letter is pretty funny right they have an end so good so good uh gosh you freaks for any of you freaks are relatively now

flashbacks what was it 2015 2016 the dow hack that'd be 2015 right well to me this is like even it's more than so than i mean the dow hack is obviously a direct uh probably a more direct example but this is just not your keys not your coins yeah exactly you know if if if you're on a centralized chain that things can happen out from underneath you not your coins if you're using wrapped products or whatever that's custodial relationship um this is classic not your keys not your coins i mean obviously a smart contract was a smart contract was also compromise um which is reminiscent of the dow uh but this is classic not your keys not your coins yeah just like there was a guy who uh i'm not gonna give him uh attention attention but there

was an there's an og who got goxed and he lost a ton of money in this as well and he was like yeah i lost so much bitcoin in this it's like dude you never had any bitcoin like you were using wrapped whatever like that was never you never had your keys that wasn't actually bitcoin these shit coins are sirens they're sirens trying to pull you in trying to take your bitcoin rug pull you take our good friend matt odell's advice stay humble and stack sense i guess binance chain was involved according to bitcoin and books i don't know told you they were all yeah it was like a it was like a an orgy of coins that got it gets so confusing the coin would never have a coin orgy something's gonna go wrong somebody's

gonna lose 600 million dollars it's gonna happen it's inevitable uh did you hear ethereum's uh satoshi's vision i feel like such a boomer when we talk about this you know right which it's also beautiful too because it highlights how little we care the ethereum vision researcher guy or whatever oh yeah oh how out of touch do you have to be to not realize that evoking satoshi's vision just sounds like a complete scam pretty out of touch you have to work for consensus like even if you want to do the affinity scam thing they always love to do where it's like oh like eth is bitcoin 2.0 or something at least call it bitcoin 2.0 like don't say satoshi's vision like those words are forever corrupted by by csw yeah you can't you

can't ever use those words again and actually have any kind of credibility like completely out of touch and i think uh ryan gentry highlighted something that was very funny too and lap just literally days ago uh the ethereum and defi community was screeching at bitcoiners to help support them with the infrastructure bill stuff we're all in this together we're all in this together a week later the ethereums it's funded by the ethereum foundation right all right how funny was that dorsey tweet oh jack if you're listening brother he's a troll he's a good one too he's a good what a shit poster had a good shit post hey and he teased uh integrating lightning into twitter today i mean it wasn't really a tease it was yeah it was an overt like

like almost just basically said it yeah yeah was it maybe he could do it via lightning address which is another topic that we have on the list what are your thoughts jump into that yeah well yeah and then let's apply it to this so we were talking about this in a group chat on telegram before andre andre nevis was in that group you and him were having a little back and forth how would you describe uh the lightning address and the trade-offs involved comparing it to something like bolt 12 specifically so i think that's probably improper framing the the the so lightning address is this idea of a human readable text string that you can take recurring payments to marty's marty's lightning address at tftc.io or something like that or yeah or marty at tftc.io

And then people that have a compatible lightning wallet can then pay you and it uses LNURL. So it's basically the evolution of LNURL. It improves the flow of LNURL. So right now, LNURL, you scan a QR code or you click a text string and it basically pings a website and then gives you a fresh invoice every time. new invoice new invoice new invoice so you can keep paying a static invoice a static qr code or a static text string in this case it maps it to what looks like an email address um so it's an easier flow audio wise we can say it really easily you know if you want to support rhr rhr tftc.io um and they want it to be standardized among wallets you need that web server component right because it's literally it's it's it's pinging a website um to get the invoice so if you're going to run it at home you have issues with exposing your ip address you'd have to use something like ip to tour or something it's the same issue that you're coming to if you're trying

to run a btc paste over from a home node and you don't want to expose your ip address um so that's like the main negative trade-off but it's it's strictly an improvement on ln url ln url is what i've been using on dispatch the dispatch qr code in that case where it goes is it uses ellen transaction bot by fiat jaff so it hits his web server and his web server gives a qr code and that gives a new invoice and then the wallet pays that invoice and then it goes to my wallet which is custodial and then i drain that over time right um so it's easier to implement it in something like a custodial wall because of that web server component but you can do it in a self-sovereign way as well if you either run a cloud server so you don't expose a home uh your home ip or if you

run it on um if you run something like ip2 tor which is what's integrated in raspi blitz where it goes tor to a web server and then nothing's running on the web server except a mirror to like the regular internet um so yeah it's a massive improvement to ln url uh it's it's fantastic to see in that regard and it's very it's a it's a very easy thing for wallets to implement now a lot of wallets already support ln url um bolt 12 is like the is is planned to be the the replacement to our existing invoices which is bolt 11 like the native lightning invoices and those don't require any server any additional like web server besides just like your lightning node they're lightning native reoccurring codes um they look like a lightning invoice but they're static

and all the negotiation happens over the lightning network you don't need uh you don't need to run a separate web server so both are good options are good um i'm extremely excited about bolt 12. uh but in the short term specifically i think you know lightning address can be very useful specifically in the donation use case agreed i think it's very again i think it's very useful step up in ux and arguably privacy for ln url a nice stepping stone toward especially if you can use your own node for it uh they do have you mentioned the bridge server correct so they do so you can run the whole thing locally yes or you can do this bridge thing where you use your own node but i guess they handle the so sir i don't really understand the bridge

server is a server that allows you to receive payments at your name at your domain.com non-custodially the bridge server serves as a necessary json and then uses rpc calls connect to your node and fetch invoices on demand so i guess there you go or you can run the full stack yourself which is also what these services that are offering are going to do or you can use a custodial wallet which is to be quite honest that's where i expect the majority of usage to happen and they even make that analogy whether intentionally or not on the website they're like it's like the gmail of lightning yeah and gmail is completely custodial like you could run your own mail server right but the beauty of gmail was that anyone could just have powerful email just in

the browser and it's like a custodial relationship which is fine for small amounts you know and you constantly drain it out totally fine and the thing that i'm really excited about this is just it highlights the integration of bitcoin into the internet stack specifically via the lightning network like just ingratiating itself with the the native internet stack that we've come to know and use over the course of our lives the lightning network is enabling us to just sort of fit into the internet stack which is like crazy to think about like just being able to send a lightning payment to an email address that's registered and connected yes so yeah you know like be connected to your dns and all that stuff and have your dns set up and um but outside i mean it's definitely

cool and i could you know uh this seems like it was a project that was spearheaded by uh the team um and they do their focus on gaming um and it makes a lot of sense to me in the gaming use case um where you have a streamer or something you know support me at this you know at this lightning address um and props to them for not only opening it up as a standard uh so other wallets can support they launched it with other wallets already supporting it um they didn't come up with a whole new standard they just used ln url which already existed and adapted on it and they provide you the option to use your own node or run the whole stack yourself um so it's really good to see that um i i you know i i think uh yeah i it's it's great to see yes

another member of the zebedee team is michael tidwell announced it last week but i want to say it again he's thrown the tab conf the atlanta bitcoin conference down there beginning of november i just saw reasons on top of my mind i just saw lisa uh nugent from blockstream who's working on sea lightning announced that she's going to be down there giving some some presentations so think about that if you're looking to go to conference atlanta early november i believe second or third or third or fourth i forget exactly which dates but and you're speaking right i'm gonna go i gotta talk to michael whether or not like i'll speak i'd be happy to speak about what we're doing at great american mining i can talk about what we're doing here tales from the

crypt rabbit hole recap bent citadel dispatch whatever um i just want to go hanging out with bitcoiners should we get a shout outs but uh but i mean before we get there i mean in my mind and like i just keep getting caught off guard with different things that happen in bitcoin moves so fast the lightning side is super cool that these everyone can just innovate without like protocol changes happening um so it moves so much faster i feel like than uh new base layer bitcoin like the main bitcoin protocol but i'm really there's so much excitement around bolt 12 right now and i'm really uh super bullish on on on the bolt 12 spec are you in that telegram group which telegram group it's like a bolt 12 telegram group or i haven't hopped in it

yet no i'm not rusty tweet about it but apparently there's a bunch there's so much developer interest in bolt 12 specifically that he's spitting up a telegram group where they can uh they can spit ball ideas on like i don't know enough to know if it's actually everything they say it is but if it's everything they say it is it's fucking baller like the fact that we could just have native lightning invoices that are static and never have to change so you can just have it like even if you just have a text string which is what bolt 12 is without a username you like a like a user readable name like marty at tftc.io that's fine with me like you just i pull your i click you know follow marty once and then my lightning wallet opens up and it goes into my contacts and

says marty bent and then every time i want to send you money i just click marty bent and i send i get it you know i get to send you a privacy preserving payment that is amazing all held locally on my device that's super exciting for the donation use case for everyday payments for payroll it's happening freaks it's happening slowly but surely uh no that's not like bolt 12 if it like you said is everything that is being marketed as will be massive for receiving privacy which is a pain point right now but again like patience is a virtue and patience should be exerted when thinking about like the development of bitcoin especially but the lightning network as well it's great the capacity or public capacity of

lightning networks on parabolic isn't over 100 million though 100 million bucks i mean i keep seeing the charts they get a lot of engagement yeah it's over a hundred million cuck bucks worth of uh worth of volume on the light network are locked up not volume it's uh public capacity public capacity and the node count is going up too yes and i it's good to see you don't want to just see the capacity go up okay uh right because if it's just the capacity going up it could be one player and like a bunch of whales just like adding a bunch i mean at one sap per bite but a bunch of nodes you could add you could add so much bitcoin for very little money onto the lightning network yeah um with that being said you could have like an lm big or even more nodes

could be the same entity yeah exactly and ellen big named his nodes ellen big one two three four five and people still kept going around that chart is bullish uh of of lightning capacity going up if you were actually going to do it you naming them different things you wouldn't name them all the same thing uh we have a comment from al in the the live stream comments did you guys cover the new apple privacy thing we did last week uh we think it's bad yeah my whole dispatch this week covered it too yeah it's uh my whole dispatch this week was the apple privacy thing and then calyx and graphene as a replacement i'm going to calyx i'm gonna calyx is fantastic you're gonna love it it's the best one i've ever had calyx plus a pixel yeah i mean ideally pixel

five but 4a works too there's gonna be how much you want to spend and it will came out this week maybe maybe you're referencing something else al came out this week that they're they're like storing icloud and iMessage iMessage messages stored in the cloud like apparently they're they've always had that capability but it is it's completely fucked how they mark when you had the backups enabled on iMessage they're encrypted when you're sending them to each other but when you save it in iMessage or not yeah when you save it in the iCloud it's not iCloud's never been encrypted no it has not as uh as is evident by the fappening which uh but we did talk about it last week kind of at length

yeah um i don't really feel like talking about it to be honest neither do i it's bad we're going to uh shout outs let's do shout outs we got one at 11 59 this is like this is just interesting to me 11 59 and 25 seconds uh on august 5th which was exactly a week ago so somebody sent this almost exactly at midnight on east coast time fucking love you guys since listening to your podcast i've started running my own bitcoin node and it's money on whirlpool and this is my first lightning transaction never change congrats as fuck congrats on the first lightning chin transaction what was did did he sign a name or a name no name no name cheers freak appreciate you might be never changed that was just the last two words but you never change to keep fighting

where i'm happy that this podcast has provided some value to you and you're taking the uh the advice and running with it love that marty and matt the shout out is thanks for the great content you guys put out with tftc citadel dispatch and rhr i look forward to these podcasts each week i have a confession to make though i'm a prosecutor hey what's up prosecutor it's our spook we love our spooks we love our spooks just we just ask that our spooks take care of us when we get sent to make sure we get the good pillows the good blankets we're not gonna get sent to prison i know uh law abiding citizens i'm a prosecutor that may makes that might make me spook but i also value privacy and fear the loss of liberties to an ever-growing state

i've hoped though learning about bitcoin in the free and open source software community has given me hope that we'll win the fight against our governments encroaching authoritarianism inequalities caused by central bank policies and increasing financial surveillance anyways keep up the great work gents thank you and cheers if you're a prosecutor will you be could you move to the defense side if we need to order i mean i i if i'd be fine with him staying on the or or she's staying on the prosecution side yeah yes yes a very weak case ah matt matt's got there you go right yeah matt's thinking thank you so it's nice to know that we have some uh patriots working in within the legal system in the united states particularly yeah cheers freak

cheers to you this one i saw this one this morning i've just been dreading it uh two boys in parentheses big comma handsome two questions one how's a feller without a passphrase supposed to move a bunch of bitcoins to a wallet with a passphrase parentheses ideally seed words in a privacy preserving manner without putting all his slash her coins in a big pile everyone looks at and says hey all those different coin join bits belong to the same feller how question mark thanks two if you've got a question like one above kind of technical where do you go to find an answer without sending 50 bones to a couple of hunks it's okay you deserve it uh we don't all have rodolfo you know very sad every time i try

the old duck duck go it's up subsequently google i wind up on some normie's site giving me some baby's first transaction level stuff not targeted to a freak bitcoin expert like myself for example see the link that i copy paste below rich glide rich puppy magnet i don't know if this guy's sending us a private key i don't want to read that do not read it i'm not reading it i'm not going to read that or should we read it like if we put it in there like could the freaks go get some is it is it a domain or is it just a bunch of words it's like one two three four five six seven eight nine ten eleven twelve thirteen fourteen fifteen sixty seven eighteen nineteen twenty twenty one yeah it's 24 words random words should we read

them freaks get your uh recover wallet i don't know if you should read it yeah it's 24 word looks like a 24 word seed phrase he said what about this website here and then he pasted a secret i'll see the link that link that i copy paste below and it's 24 words it could just be someone trolling us like i'm trying to think if these are all bit 39 i think i think glide is i'm hearing an echo now i think glide is are you good now yeah um should we i mean it's in it like do we have okay just read it it's a puzzle and i hear my echo again definitely a puzzle okay um i don't know that might be on your end um okay here we go rich glide rich puppy magnet lumber air visual strategy raise radar answer kit start cabbage

song chase flat zebra knee pattern pet drum arm there we go that's a great website he pasted there it's a great website i wonder if there's any stats in there god i hope that wasn't off to the races i hope that wasn't an accident like he doing two things at once thought he was posting a link and he's just copying a private key oh what do we do well up too late now we're live we are live there's no turning back now uh but should we answer the question how's a fellow without i don't even know if he answered the question now how's a fella without a passphrase supposed to move a bunch of bitcoins to a wallet with a passphrase ideally same seed words like so like the way the passphrase like if you set up a new

wallet with seed with the passphrase of the 25th word for that particular wallet right right yeah yeah so the passphrase just acts as if you have a 12 word seed it's the 13th word and if you have 24 words yeah 25th word if you recover you're not moving your coin like no no it's it so the the the issue that people have which i i believe with his with his question is you have a wallet that you set up let's say you set up a trezor right and you have your 12 words treasures 12 words whatever you have your 12 words um and all your funds are on there and then you you realize that having a passphrase is really nice to have it's it's an improvement you don't have to trust the device as much and um you you at base it's it's you you have it you

have plausible my dog's barking outside you have plausible deniability uh because you can keep funds on the non-passphrase wallet and then you can keep funds on the passphrase wallet you can have infinite number of passphrases you have almost like a second uh element where you need to have both the seed and the passphrase unless they brute force the passphrase um so people realize that best practice is to have a passphrase to have that 13th word to have that 25th word i just filibustered my dog and she walked away um so so the question is okay now how do i move to this new passphrased wallet and what you have to do is you have to use a wallet that has coin control where you can see every utxo is different every utxo is separate um so you have to use

something like electrum with your own node or if you use something like wasabi because wasabi has hardware wallet support and you can use wasabi and if you don't use your own node it's not horrible for your privacy because it has very good network level privacy so it connects through tor by default what you use spectre right you could use spectre with your own node um yeah so spectre with your own node i i guess sparrow with your own node uh you can use wasabi you connect your hardware wallet to that and then what you're going to have to do is you're going to have to manually send each utxo to a new address in that new wallet that is the wallet with the passphrase and it's going to be a time consuming process i don't know what to tell you you're going to have

to send each one individually and you shouldn't send them all at the same time because if someone sees 25 utxos all hit the mempool at the same exact time um then there's timing analysis there's a cluster but it's still better than just select all send you don't want to select all send you don't want to use something like uh treasure suite or ledger live where they don't let you unless you i don't know if either of them have coin control now i think ledger live does i'm not sure about treasure suite but if they don't have coin control you don't want to use them because they're combining they're combining the utixos you want to be able to pick your individual transactions agreed can you hear my dog yeah i can hear her she's just incessant

she just keeps going it's nice background noise it's nice it's uh yeah i got confused with the the wording of the question the way it was phrased but now that's the way to do it and to answer your second question where to find these answers i would go to bitcoin stack exchange i may have all the answers but that's always been one of my favorite places to uh get like nitty-gritty questions like this answered somebody has likely had a similar question at some point in the past and everybody who's working on bitcoin's stack exchange to answer these questions does a pretty good job of articulately answering them and doing it in a timely manner so if your question isn't answered and you have something similar and you're on bitcoin stack exchange i would ask it there you

You can ask it here as well, but you don't have to pay $50 worth of sats, and I bet it would get answered in a timely manner. But yes, be wary of coin control. I mentioned this a couple of months ago. Be patient when you're moving coins and using coin control. I got impatient a couple months ago, and I wasn't paying attention, and I was moving some UTXOs, a good amount of UTXOs, and got lazy and didn't pay attention

and combined all, not all of them, but a few of the remaining UTXOs that I have of the movement I was doing that day at once and just completely borked the separation of those UTXOs. So be patient, be patient. Double check everything, triple check. And yeah, if you're doing this with a wallet with a passphrase behind it

and you're not recovering from seed and the passphrase, you're going to have to move them one UTXO at a time. and like matt said uh make sure you time those out and is tx broadcast still out is that still viable you here there you are oh i was hardware muted uh from 6102 yeah yeah um that is an option that's for more technical people that don't just paste their seed into your uh uh shout out i think you just you just manually do it over time but utxo selection other good places to ask questions are we have two sphinx tribes we have a tftc one and still a dispatch one they're very active you can ask questions there um bitcoin q a has a great matrix uh chat uh which you can find on his site

i think bitcoiner.guide um i have a bunch of resources i'm still dispatch.com help ton of ton of resources listed there um and you can reach out to me and marty i don't know the best way to reach marty but if you hit me up on telegram or keybase i'm very responsive don't i i this is a good time to say i apologize to all the freaks that have tried to message me on twitter dms the interface is horrible it's completely overrun i've abandoned ship i'm not responding there anymore it's just not going to happen i can't search there's no search real search feature i can only search for the actual username completely useless search um so twitter dms could have been a powerful platform but they it's completely fucked overrun abandoned ship

keybase telegram dream hit me up happy to answer your questions um and then ministry of nodes our boy katan does one-on-one consulting you asked for not paying but if you want to pay someone who knows his shit he'll walk you through whatever the fuck you want to walk through katan katan is a worthy uh worthy departure of of cuck bucks so to learn about this stuff and i'm still available on twitter telegram as well same same app but i will warn both are pretty overrun at the moment as well i try to get to as many as possible but it's not as easy there's a lot there's a lot the coin control inspector and sparrow is fantastic it defaults to coin control which is nice yes um so i recommend if you're not already using one of

those with your own node uh you should consider it consider it consider it did anyone freaks did anyone successfully sweep that seed that's empty i got i saw one comment it's empty one comment it's invalid um so maybe it was a wild goose chase that ended in nothing you know what's the worst part about twitter dms the worst part about twitter dms is when you follow someone and they notify you of a dm because you followed them and it's from like a year ago a year and a half ago or whatever and i always respond to those because it notifies you at the time i was like did you figure this one out sorry sorry i didn't respond to you sorry all right here we go software updates you freaks ready there's been a bunch okay dog dog's gone

now phoenix version 1.4.15 has been released for running a phoenix wallet consider updating spectre just talking about a version 1.5.1 has been released anything big there they've got desktop gui note on linux you need to set up your udev rules note on mac os the current build supports only mac os catalina 10.15 or higher that's probably important um so if you're running spectre on mac os catalina 10.15 or higher um trezor suite version 21.8.1 has been released now in spanish i'm just reading the link uh btc pay server pretty big update here i saw you tweeting about it earlier version 1.2.0 has been released uh pay to endpoint native payjoy native is that correct native out of the box

you still deal with your dog i'm just like muted in a million different places uh yeah uh it's it's it's pay join native if you use the built-in wallet oh yeah so a pay join by default not i why do i say native pay join by default if you use the hot wallet which you had to use anyway if you're going to do pay join because you can use it with a hardware wallet but if you use it with a hardware wallet you're uploading your xpub they don't actually have signing privileges so they can't do a pay join a pay joins a collaborative transaction so you need to have a hot device so you can actually sign so it's great to see and and to the freaks that don't remember what pay join is pay join is a transaction where the receiver provides an input so you have in a in in a

bitcoin transaction you have uh the input side and you have the output side and a simple bitcoin send looks like one input um and two outputs one output's going to the receiver and one output's your change unless you send the full amount then it's one input one output or if you don't have enough in a single input then you might have two inputs and then two outputs uh the payment and the change with pay join it looks like one of those transactions where you have two inputs or three inputs and two change i mean one two outputs one change one the payment but in actuality one of the sender one of the input sides is actually the receiver providing uh a utx so it breaks the common input ownership heuristic where you can't assume that all inputs are owned by the same

person um which is historically one of the main tools that chain surveillance firms use because tracking bitcoin's a probability game you're basically constantly if you're tracking bitcoin they have algorithms that do it but the idea is you're looking at transactions and you're deciding when you think ownership has changed hands when marty sends matt something versus marty sending marty something or marty sending it to his new passphrase wallet um there you go yes um i like the phrase make every make every spend a coin join which pay join pdep enables that should be something that uh becomes more i would like to see become more common doesn't need to maybe others disagree but i think we should strive to make every spend a coin join yeah i think making

every spend a coin join is similar to saying no kyc only like it's a it's a dream but we want as much as possible um and and pay joins part of that and i think uh i also really like the idea of like simulated coin joins where you add you're adding an extra input um and you're matching outputs just to fuck around with chain surveillance even though it's all from the same person fuck with chain surveillance as much as possible fuck with their heuristics bork them bork them i think we'll be able to bork them completely at some point um in the future don't depend on it though make it happen it's one of matt's pet peeves is hey bitcoin's privacy is subpar now but magic wand oh we'll just be cucks for now and then

we'll get our freedom in the future we don't have to do anything because none everyone has gotten freedom in the future just just sat by and just did fucking nothing yeah it's gonna happen going to come freeze it's going to come uh speaking of acquiring bitcoin in a more sovereign fashion uh our friend of the show or friend of citadel dispatch specifically econo alchemist has written an article for uh bitcoin magazine why and how you can mine bitcoin at home uh obviously he's one of the i would say most vocal supporters of at-home mining and somebody who's been doing it himself and has created incredible tutorials on how to set up your own mining operation at home and how to do it in a way that reduces sound and increases hash rate which is

incredible uh and gotta give a shout out to econo alchemist he had an incredible picture on the roof uh what was the what was the caption of that picture do you remember they're sitting up uh don't it's not can you let us it's can you stop us or something yes yes yeah very they're sitting of a block stream satellite yeah it was very inspiring it was super super inspiring i love that dude he's a good dude he's become a friend i can't wait to set up nodes with my son that's uh that's a goal of mine at some point what age maybe this is something we can ask the the the troll box the troll room here on the live stream is and what age should i begin to teach my son how do you before he can walk well it's too late that um that already happened what's uh

what's planned to he's starting to talk now i don't know like should his first words be like a 12 word seed phrase that he just has seven seven i like seven i like seven free men don't ask permission they do five they know what's right we're getting five we're getting five in the womb are you reading eco's tweet uh i can pull it up i'll pull oh no you were reading the chat marty remember when you used to lecture me for reading the chat you know things have changed man things have changed you normalized it too much you know i had to jump in with you it's unfortunate but no it's not unfortunate i love ride or die freaks let's go speaking of a ride or die freaks we're having them on top of mine i'm gonna pop another car on

eat that what else we got here software updates still i think you just indoctrinate the kid from as early as possible and just never stop oh that's i mean that's happening right like that's the strategy yeah kids i mean you were talking earlier about uh i mean so so the a6 the price is fucking through the roof again yeah you're right more short or more short than it was very short-lived very short-lived i think when i had eco on for dispatch's home mining episode i want to chart that against asic prices i think we were i think i might have hit the nail on the head on that one the bottom signal uh but a lot of plebs i'm so many i have so many freaks reach out who got

got rigs bullish as fuck they're happy a lot of disclaimer there might end some relationships because of the noise but uh that disclosure was made in dispatch that you should care about your wife and not put it in place that she wants to be in yeah and econo alchemist has uh ways to sound perfect so go look at the tutorials uh yeah but you definitely still hear that shit oh yeah gay for the stay what are the what's going on in the comments i don't know i love the freaks they're special yeah yeah all caps gay for the stay the uh speaking of mining asic prices uh uh uh stop saying uh um like trying to avoid those and be more articulate.

Lost cause, Marty. It's not a lost cause, Matt. It's not a lost cause. Speaking of ASIC pricing, I've said this a lot on the podcast in the past, but ASIC pricing is very reflexive to the price of Bitcoin. So I think this recent spike, we've seen at Great American Mining too,

uh over the last week is a product of the price going up quickly it'll be interesting to see how the asic market reacts if we do a continued consolidation pattern in the the mid 40s over a week or two or three will that price per tarahash drop or stay static uh if it if it stays and you have the difficulty adjustment to that as well but i i think it comes down to the fact that we have an everything shortage right now that's true right we have an everything shortage we already had a minor shortage before the chinese mining ban and then i think people just overreacted right they just they thought more miners like more hardware was going to flood the market um and i think there was like a certain amount of chinese hardware that was just lost for good it just was

like run to its limit not in really great condition it was hard to ship around um and i i think i think there was an expectation that that was gonna drive down prices more but you know maybe i'm wrong i've been wrong in the past that's the beauty of bitcoin the beauty of mining you can never know it's permissionless you don't know what the other players are doing other parts of world it's what makes bitcoin robust and as resilient as it is you just honestly don't know and you're so you're stuck in this continuous i don't want to call it a prisoner's dilemma but in this game theoretical situation in which you have to envision an entity you don't know on the other side of the planet making decisions uh based off real time um so that's fascinating and do you

you have this on the list yeah mutually uh did you just get angry at yourself for saying uh yes i just did it four times do you have that's the problem with trying to not say it you think about it more i do not have our new space force uh freak jason lowry blew up linkedin i didn't get to see it on linkedin because linkedin i deleted my linkedin years ago but jason lowry is a member the space force and he's writing a thesis paper titled mutually assured preservation in which his thesis is that nation states getting into the bitcoin mining game specifically could lead to a more peaceful world in a world with less war because bitcoin's proof-of-work consensus mechanism and the fact that it's distributed ledger tracks property ownership

makes it so we don't need to go to war anymore because wars are created because governments are trying to prove who is in consensus, who has power over the world and over scarce resources. The scarce resources in meat space cause physical conflicts.

I mean, those who have been around will remember Bitcoin, not bombs. Yes. Gosh, that was a really good one. That was like a good sticker campaign. I think Roger Rear championed that. Hey, Roger Rear championed a lot of good things. Fuck Roger.

Honey Badger money. Honey Badger money was good. It made me have a whole new respect for the Honey Badger. It was an animal I had never thought twice about before that. Right. He had billboards up. It was him and Eric, I believe. Eric Voorhees.

Got to give props where props are due, obviously. But this post was really cool. I think what was cooler than the post was him just dunking on all the replies. right uh what about cardano if you think cardano is actually dino he used dino decentralized the name only and decentralized name only which is every shit coin and arguably the the u.s democratic republic it's not decentralized at all centralized a lot yes but i wrote about on the ben yesterday this jason's not the first person to put forth the idea that bitcoin particularly leveraging its proof of work consensus mechanism could bring peace to earth and

a couple people that i've mentioned on this podcast before and in the newsletter before yesterday and that had this idea before bitcoin was even launched before it was even an idea in satoshi's brain or henry ford and buckminster fuller who believe that if the reserve currency of the world was to transition from a gold-backed currency or u.s dollar-backed currency into a currency backed by kilowatt hours or energy that it would end wars and bring peace to earth again because you'd have more or excuse me less incentive to go fight over these scarce resources if you have energy resources and can harness them to create hashes that produce sats you don't have to go fight over these resources you can all engage in a battle and

in the digital world which jason acutely highlighted in in a few of his linkedin posts like we can get to a world of mutually assured preservation because the incentives of the bitcoin network are so strong that they highly incentivize everybody to cooperate i believe a post that he posted either today or late last night talked about 51 attacks between nation states and they don't even make sense because even if you do win the loser that attack can take their sats to the grave but what about wars fought over bitcoin i thought i thought i've been thinking about that too uh that is so that's like you hit their mining sites you know you try and hack them you hit them with ransomware i guess we don't like take down their electrical grid and you're

like okay give us half your bitcoin treasury and then we'll restore your society i do hate it when people get into all this world peace crap and bitcoin we aren't smelly disgusting hippies for god's sakes wins win some hacks all right yeah we're not i'm not a smelly hippie i'm smelly right now i don't think i'm a hippie but i do think win some hacks we should try to be optimistic like i do think it does create the conditions from which people it's easier to fund wars if you can print money at will yes and it's easier to maintain hegemonical control like being the superpower if you have the reserve currency and you can print money at will um but there will be countries with large bitcoin reserves

that will have money to wage war still i mean war is something that is a war chest if you will forever a war chest if you will a war chest yeah well i i was thinking um and i might have mentioned this on rhr i mean it's been three years uh i like i i love like historical like the history channel when it used to be the history channel like i love uh like geopolitical games and and uh civilization and all this fucking strategy and stuff age of empires age of empires was they got to come out with a new one i can't believe that anyway uh multi-sig peace treaties where if you break the peace treaty you lose the bitcoin that you have you have Switzerland being like your collaborative, collaborative custody, right?

You could have like a five country peace treaty and like a four or five multi-sig. And if one country acts out of line, they lose their, their, they lose their part. Well, it'd have to be three or five, right? Why? Cause you think if you're going to defect in a four or five, you're going to want somebody else to defect with you. I mean, yeah, you can, we can work, you know, you can work out the specifics. maybe the first multi-sig peace treaty completely fails in implementation it's the horrible it just

gets exploited but i'm saying like it's a that's a cool concept right like you have a number of key signers and like you basically just hold it over their heads like you will lose you have like a security deposit for a peace treaty i love this see look bitcoin's optimistic we're thinking we're trying to end wars here freaks we're just trying to bring peace on earth they're trying to tell us we can't do it but the hash wars are coming are they though are they i like the term hash wars i do too but i think i think that's something jason was getting i think it's a high cost of that attack if you fail it's costly even if you succeed the reward may not exceed the cost but it's not it wouldn't just be uh

it wouldn't just be when we're when we're talking like global powers right we're not just talking uh like a traditional 51 attack like i said earlier right like you're bombing mining sites and you're you're doing all different sorts of warfare you know we're gonna have autonomous drones drone swarms pretty soon you know you're not even gonna know that an autonomous drone swarm hits you with off the shell parts you don't even know who hits you you don't even know if it was your enemy well obviously it was a enemy but you don't know which enemy hits you well agreed in that scenario which you just laid where you have these large nation states amassing a shit ton of hash and engaging in these types of geopolitical games

i could certainly see that being the case but i think there also needs to be some credence paid to the balkanization trend and the states right trend that we've seen here in the united states specifically like if bitcoin succeeds and it gives power back to the individual and individuals oh up loud towards their local communities more is hash rate distributed across more borders if you will those borders get reduced down to county state level maybe you don't have nation states a big noun is that distribution across those borders enough to reduce the likelihood of a hash war because you still might have one between wyoming and texas or whatever well you'd have to hope well you'd have no because like wyoming would have to have

like 51 of the network you can't like pinpoint and the probabilistic nature of adding when i think balkanized i think i don't necessarily think uh that means war ends i just think it means war will probably be on a smaller scale i agree i agree but you'll still have people are always going to be fighting each other yeah it's nature it's just nature nature kills people kill things kill there's a hierarchy you know you can limit everything right like but i don't think the point i'm trying to make is like i don't think those wars will be fought via the bitcoin network right i think the bitcoin network will be the consistency right it's like the stable thing that just transcends everything else which is nice to have you know bitcoin is for enemies

a stable open monetary network that you can rely on regardless of what the fuck happens that's the bitcoin value one of the bitcoin value props right um the chat just kind of uh made me think about it uh elon says like a lot of questionable things the one thing he said is a lot of times what happens is like the most ridiculous outcome is is the outcome that happens and i feel like i've noticed that in my life as well that murphy's law or cuttinghams law i don't even know there's like all these men's names laws um i uh the real tragedy would be if the first uh multisig peace treaty was like on ethereum and just like the whole multisig got trained by a hacker so that yeah it's just like they just like deer hacker they like deer hacker

like you drained our multisig for our peace treaty now we're all going to war and that's like fuck you i wanted you to go to war yeah there's murphy's law anything that can yeah no the most entertaining outcome is the most likely okay is that cunningham's i don't know that that's that's Musk Law. Yeah, that's what Elon tweeted out. Yeah, Murphy's Law is that anything that can go wrong will go wrong. Yeah. McAfee's Law.

McAfee didn't kill himself. He didn't. He didn't. I don't believe he did. I don't believe he did. We never saw a body. Nope. Fluffy Pony's still in jail.

Fluffy's still in jail. Did you guys see the picture when they brought Jeffrey Epstein out? his ear like wasn't the same of like pictures the day before i don't think i don't know i believe the ear thing that dude's that dude's living somewhere he's living somewhere he's got a lot of dirt too jizz lane what's going on with jizz lane maxwell we're gonna get kicked off youtube for bringing up these names i mean it would fulfill my prophecy that you were the reason you know what's interesting so i end dispatch with different music and and they usually make me cut the music but some artists only say that like there can't be

youtube ads on it's demonetized right like you can't put ads on it but they don't make me actually cut the music um metallica didn't make me cut the music what isn't that surprising that's so not metallica was that this week no because it definitely that was two weeks ago they didn't I didn't have to cut it. They demonetized. I don't put ads on it anyway, so it doesn't matter. We got DMCA'd this week, definitely. What, Eminem?

Yeah. Eminem made me cut it. Yeah. It's interesting who doesn't make you cut it and who makes you cut it. Metallica's come full circle. Maybe they got enough money from the Napster lawsuit. They're like, fuck it. We'll just let everybody take it.

I thought that one was going to... I was just going to get hit right away. Yeah. All right, Metallica. i don't know that was completely irrelevant i don't you know now you got me like my brother-in-law is a huge metallica fan he's like a metallica super fan and so we listen to metallica quite a bit uh when he's got control of of the the aux cord if you will um it's a shame they did that stuff to napster they're a good band i like their music it reminds me of my childhood driving my dad

he was in his mid-20s and he's like playing the drums on on the car dashboard just shame that lars and crew got all litigious with with the napster stuff but it seems like they're not doing it on youtube so let's just keep the metallica rolling i was very surprised speaking of bitcoin is money for enemies uh alex gladstein god uh uh uh like um stop alex gladstein wrote his bi-weekly piece for bitcoin magazine cuba's bitcoin revolution not gonna lie i haven't read it yet it was posted 23 hours ago but i saw him commenting on it on twitter he said an interesting thing one thing i learned through the process of writing this particular piece and interacting with the cuban bitcoin community is that there's a lot

of what what is the regime it's it's not um it's not castro still whoever it is there a lot of cuban bitcoiners are still supportive of the communist regime in the country which was interesting they're also bitcoiners yes again bitcoins for enemies like i don't think we're a communist we would agree with uh a communist government however we're bitcoiners and there's communist cubans who are bitcoiners too and bitcoin doesn't know that communism exists it doesn't know that we exist it doesn't know that there's blue versus red it doesn't know that joe biden's president doesn't know that joe rogan has the biggest podcast in the world it just knows what is allowed to be sent does he still i don't know i think he might want to match uh

since he went to spotify who knows i haven't listened since he went to spotify i've been listening to some of rogan's stuff recently um actually listened to the quentin tarantino episode today there's a lot of harvey weinstein talk on that episode it was uncomfortable anything you want to add to the well i haven't read it yet either i just blindly retweeted and added to the list okay boss boss but i love everything he puts out and it i i read the thread the thread was great yes yes it was that's what i read as well um um i'm not going to focus on it not going to focus on it if you are interested in getting better at lightning liquidity management jameson excuse me prolific bitcoiner on his cypherpunk

cogitations cogitations blog blog.lop.net has a lightning liquidity management guide lessons learned from running a routing node on the lightning network so he's basically passing along the knowledge that he's accrued as he's been maintaining his own lightning nodes and if you guys are interested in maintaining your own nodes and learning how to get better at liquidity management potentially getting as much fees as possible jameson has a nice little guide out there for you guys anything you want to add to that no it was a really good write-up yeah it really was just don't like there's a lot of people that are just overselling like you being able to make like a profit running a lightning node you got to put a lot of money in

just like do it for yourself and do it for ideological reasons and don't uh don't if you end up making a profit so be it good for you but don't don't go in expecting to make a sizable amount of money off of it yes at least at least not yet maybe you'll get better in the future but right now it's yeah especially with the fucking mempool is empty you can like send a transaction for like 200 sats oh cops decided not to come after me they had that that three that three second siren said nah not today the prosecutor called him off called him boy so we're still we're still trying to build a bigger case he's spreading too much freedom he's going to spread a bit more we

think we'll be able to to nail him down because he likes freedom too much and we don't like freedom too much here in america anymore we like financial surveillance central bank digital cuck bucks infrastructure bills spending another thing oh beautifully poetic energy obviously been a topic on this podcast green america mining podcast as well joe biden going hand and foot to opec please please please drill more oil so we can buy from you two years after shutting down the keystone pipeline shutting down indian point that wasn't biden that was cuomo but and setting up for three and a half billion or excuse me trillion dollar green new deal bill that will move this is the bill that comes after the infrastructure bill right yes so you get one

One and a half trill. Are they calling it the Save America bill? Yeah, Save America. We've got to save it. This is what I'm saying. You can't negotiate with these people. You just got to stack. You got to hold it yourself.

You got to learn privacy best practices. You have to use your own node. They're getting so lazy, though. Infrastructure bill. Omnibus infrastructure bill. Save America bill. They've always done the Patriot Act. Who wouldn't want to vote for that?

Huh? american care act you don't care for americans you're not a patriot you don't want to save america you fucking kidding me psychos is right they're psychotic they're psychotic and they're mostly corrupt psychotic and insane so insane is doing something expecting different results they're moving us off reliable you gotta follow the incentives just follow the incentives they they're just they want to make a shit ton of money and they're successful at making a shit ton of money look at yellen yellen brought in seven million dollars worth of speaking fees over the last year barack obama was a lawyer in south chicago and then he got to the white

he went to the senate and he went to the white house and now he owns like a 50 million dollar house martha vineyard that's 12 million 12 million whatever i don't think it matters that much still uh eight figures i'm using that to justify my citadel it's nancy pelosi it's her husband her husband's the moneymaker he's making all these smart trades that just seem to correlate with laws to get past that nancy science it's not luck it's skill it's skill these people take these low-paying jobs they get into very high positions in the federal government and they they leave the federal government after only making 200 grand a year and they're a deck of millionaires. It's crazy.

It's just a coincidence. Just a coincidence. They just say their partners are just very good. The most fucked up part about Yellen speaking fees is they were mostly through zoom. She didn't even have to put on pants. What is she telling Citibank? Like, what is she telling JP Morgan? What did they just have her sit there on mute for like an hour on zoom? just muted why ain't she like well yes it does look like inflation may run hot it will be

transitory though i don't agree with everything pal's doing as an ex-fed chairwoman i think this and that there's nothing valuable that could come out of nothing worth millions of dollars or hundreds of thousands of dollars that could come out of a 45-minute conversation with jannie ellen it's a tax write-off for the banks it's literally they get a tax write-off as they're paying her yeah you're fucking you're led you're led to bribe you bribe them tax write-off that just just blew that just hit my mind they get a tax write-off for that and they're fucking bribing her but meanwhile they want to you know like track you track your ten dollar venmo transaction because oh there's too much tax fraud in venmo because you said i'm buying a cuban

sandwich she's like nope you're you're funny insanity yeah you can't comply with this shit It's ridiculous It's a two-tiered system It's like so Like Janet Yellen made 22 million dollars In speeches last year

Whatever the fucking number is I thought it was seven Seven Whatever it is It's high It's the second time You multiplied by four though Yeah

I'm noticing a trend Honey Honey Give me 45 minutes I know I don't have pants on I'm just wearing a A woman blazer And I got my glasses on

But I'm here to make 700 grand Yeah my 45 minutes is worth 700 grand not my influence over do you think she picks the bribe amount or they pick the bribe amount hmm i think they do right like does she quote them does she like give them like this is my bribe fee or do does they like oh come here for 700k they probably compete probably like behind the scenes competing because that stuff only gets revealed in retrospect

after like a quarterly report that has to get where she probably had to disclose that when she became the treasurer or that's how we know yeah so she would come to like so we're not that corrupt we at least get the disclosures of the bribes yeah behind the scenes they're they're the banks are just like all right we're gonna pay her 500 grand thinking that goldman paid her 400 like blah blah blah like they'll treat us better or maybe i don't know i don't know how negotiations i would guess it's that way though they just blindly try to bribe the hardest it's all fucked freaks they don't care about you they don't give a fuck about you it's like they're just doing ever change they're doing it in your face and they're fucking laughing at you

behind the scenes like they're laughing at all of us i'm part of the you that i'm describing here fuck these people god damn it that was it last topic we have and i got beef with this topic bitcoin 2022 april 6th to the 9th in miami beach why do you have beef it's fucking spring break we're gonna be there like be like we're gonna be there with egg it's during spring break that's what i'm gonna say and i don't i even in college i shied away from spring brown i went yeah but be a better temperature than i agree there i agree there weather will be better spring break crowd that's going to be an interesting mixture are we going to get are we going to be going and and chilling bitcoin to the spring breakers i'm excited it's miami beach i am as well um

there's going to be a music festival on the last day so that there's two full days of con there's industry day then two full days of conference and then a music festival and um i expect a lot of people to so you can buy the music festival separate but if you buy the regular conference tickets you get automatic inclusion to the music festival and i expect the music festival to be the normie orange pill fest so like you yeah basically exactly what you said you just orange pill the spring breakers they're the zoomers they're the future they are the future are we orange pill them and then we we talk about the real things the two days before that yeah all of the zoomer freaks out there you know i love you

i'm a big zoomer advocate i love you guys because they're smart shout out to our bitcoin zoomers ben the car man ben kaufman a lot of ben zoomers nick can't mind btc ization will clemente day i'm all our fake id freaks out there all of our fake id freaks let us know if you need need some help my i had to give my sister i mean it probably shouldn't be yeah it's too late now already what happened if i had to send my sister like 50 dollars worth of bitcoin when she was a freshman in college to get a fake id that she never got sent to her and she never used uh she got she got scammed she got scammed classic the scammers you know he made a lot of money off that yeah angry marty

gonna aren't you always buy your fake ids in person for cash this is like a very basic thing i had i went to college in chicago and the the id checking in chicago wasn't very stringent so i i had my web dev software engineer major excuse me friend who lived a room next to me excuse me for the burping he he made me my fake i had a main fake id i made in my dorm room never i've never owned one no i'm not allowed to have fake ids i would never i would never i would never own a fake id um i'm not afraid to say it i had a fake id i was thinking the other day like it's crazy that like we've just normalized kyc in bars like what you just walk in it's just like do you have your documentation show me your papers show me your papers if you want to get

blackout drunk here i need to see your papers interesting you need to be this many days old and that was like a that was a save the children type of argument too yes it was save the children save the children apple's out here to save the kids it's always the children gosh i'm optimistic though i'm optimistic it's it's getting too crazy janet yellen's getting speaking fees that are tax deductible to persuade congress to write laws a certain way she should not be included in that at all it's getting it freaks please go shake your normie family members friends whoever it may be be like

just wake up open your eyes look it's right here they do it right in front of you you can go read what they say you can go check the amount of money they're getting paid and see who they're getting paid from you can see what they're writing after they get that money like it's right there it's out in the open i like both feel like between over the last two years a ton of people's eyes have been opened to how corrupt the system is, how ridiculous it all is, how unfair it all is. But at the same time, it is extremely disheartening seeing how many are just still blind to what seems so obvious. And it's extremely frustrating. I had an example that I talked about on twitter today defcon the so-called you know self-described hackers conference not only

required vaccine passports in vegas but they they outsourced it to a third-party company to check them and it's just like what the fuck is going on like that is the most ridiculous fucking thing in the world you can't go to that conference if you're a legit opposite if you're actually a hacker yeah i think hackers real hackers weren't actually going there to begin with but yeah it sounds like a complete honeypot it's like a cia recruitment conference still like at least you know do the bare minimum yeah it's weird times weird times freaks uh i didn't want to bring it up but like i have to just because i feel are you sure

are you sure i'm sure they want to divide they're trying to divide trying to divide they are and it just is working it is working it has been working and it continues to work they're doing it with the vaccinated the unvaccinated now i know there's a lot of strong feelings on both sides myself included like we said many times i don't care either way been vaccinated unvaccinated do what you want to do do not try to force anything on anybody else and it's getting to the point particularly here in america and all over the world a lot of places in the world that the media is starting to drum it up like there was a an article in mashable today like it's okay to be angry at the unvaccinated like be angry yes it's they're

trying to divide like that one was like very obvious though yeah yeah there was no nuance on that one no like be angry at this group of people blame the title for your problems like divide they are the other attack that like it's so transparently evil and disgusting but a lot of people fall for it i mean i see it in my own family where i'll say in my family there's many heated discussions about many of us who haven't gotten vaccinated yet verse our family members who are we're being accused of of being dangerous selfish selfish and it's it's not fun it's not it's like it's we should it should not divide families you should not divide nations yet it's being the mainstream media and they're drumming they're drumming they're drumming listen this is

dangerous for our democracy this is dangerous for our society get the vaccine get the booster put your mask on mask your kid pull your dick out walk into the gulag like it's like i wouldn't be surprised if in six months fauci came out so you had to walk around with your dick out like that's the only way we're gonna do it i'm glad you commented on that on that because i was gonna ask you yeah that's literally the droning of what's going on right now in six months fauci but that's what i'm saying like all this shit's going on right and like who in their right mind expects responsible bitcoin regulation right hey the emperor wears no clothes freaks should we end it on that you've been here yes okay let's end it on that before

for uncle marty says something even more uncouth i love your freaks uh enjoy your week just uh appreciate the little things appreciate your friends and family and we'll see you next thursday for another rabbit hole recap love you all bye y'all peace and love freaks