TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Bitcoin Week of 2021.11.15

Episode Date: November 19, 2021

This week Marty and Matt discuss: - taproot activates successfully at block 609732 - muun wallet adds taproot support - SEC rejects VanEck spot bitcoin etf - Perth Heat baseball team adopts the bitcoin standard - crypto dot com spends $700M to rename Staples Center for 20 years - tether announces new subsidiary 'Synonym' to bring tokens and other features to lightning - Senators Wyden and Lummis submit bill to restrict bitcoin tax reporting rules in infrastructure bill - Senator Cruz submits bill to repeal bitcoin portion of infrastructure bill - IRS expects billions of dollars worth of 'crypto' seizures next year - btcpayserver v1.3.5 - lnd v0.14.0-beta - mercury wallet v0.4.51 - simple bitcoin wallet v2.4.18 - immortan v0.5.6 - fully noded v0.2.30 - umbrel v0.4.8 - hexa wallet v2.0.2 - ledger live desktop v2.35.1 - bitcoin banking for communities - reason minidoc on environmental impact of bitcoin Shoutout to our sponsors: Cash App Unchained Capital Braiins - Daniel's thread Compass Mining

What is up, freaks? It's your boy, Marty Bent, here to introduce this episode of Rabbit Hole Recap to you, freaks. High-quality rip. I think the rips are getting better with the producer, if I do say so myself. Shout out to Carr for bringing a lot of value to this show. And shout out to you, freaks, for joining us. Thank you for joining us. We love having you here. It's always fun. We're here to help educate people about Bitcoin, what's going on, some tangential topics, too, to Bitcoin and freedom in the digital age. got a long way to go freaks so keep joining us week in week out i'm sure it was brought to you by our good friends at the motherfucking cash app cash apps here to make stacking sats easy for you

sats what are sats what are sats i'm new to bitcoin what are sats sats is short for satoshi's and uh one satoshi is the smallest unit of a bitcoin it's 100 million sats in a bitcoin you don't have to stack a whole bitcoin you don't have to buy a fraction of bitcoin you can stack all sats instead again cash app makes it very easy you can dca in the sats beyond that cash app can be your bank account. They're offering account numbers and routing numbers, so you can get your paychecks direct deposited into the app. They're going to be enabling

the ability to pay taproot addresses come December 1st. They're doing incredible things. If you haven't downloaded the app yet, make sure you do so using the code STACKINGSATS. It's S-T-A-C-K-I-N-G-S-A-T-S. You're going to get $10. $10 is going to go to our good friends at Owls Lacrosse. That's Owls Lacrosse.

This rip is also brought to you by good friends at Unchained Capital. Unchained Capital threw an incredible Austin BitDevs last night, had a great time there. And Unchained, what do they do? They're here to help you eliminate single points of failure in your custody model, and that is personified. Not personified, I always say that.

It's not personified. It's played through in their Volt product, which is a two or three collaborative custody multi-sig wallet where you hold two keys, Unchained holds one. You always have the ability to move your stats out of your Volt, but if you're ever in a pinch, Unchained is there to be the second

in the two or three multi-sig signature so that you can move your UTXOs out of the vault. Again, this is to eliminate single points of failure. If you have your coins on an exchange, you don't own Bitcoin, you own a claim to Bitcoin. That is a single point of failure. That exchange, as regulators come after it or they get hacked and they lose their Bitcoin

or have an inability to send your Bitcoin off exchange, you are screwed. Another single point of failure is having a single-sig wallet. If you lose that hardware wallet or paper wallet, whatever it may be, and the seed phrase that backs that up, you're shit out of luck.

So distribute risk. The collaborative custody model that Unchain offers is a great way to do that. And they have a white glove concierge service. It's going to take you from zero to having a thousand cuck bucks worth of sats in a multisig vault in no time. If you tell them TFTC sent, you're going to get $50 off this package. And this package includes multiple video conference calls to get you comfortable with everything multisig their vault specifically. They're going to send you hardware wallets. You're going to get you set up with those. They're going to create your vault. You're going to back up your derivation pass. Then again, a thousand cuck bucks worth of sats are going to get dumped into that vault. All right. So go check it out and then go check out everything Unchained has beyond that. They have a loan product. They just brought on our IRA team. They have incredible content. Drew Bansal, Parker Lewis are putting out incredible content and others, Phil Geiger,

Buck Purley, the whole team there. Go check them out at Unchained.com. This rip is also brought to you by Compass Mining. Compass Mining is here to get more individuals into the mining game. They want more individual ownership of Hashrate. They offer an at-home mining service, which allows you to go to compassmining.io. You can buy an ASIC. You'll have that ASIC sent to your house, and they have an at-home mining support team.

So you're not just going to get it and get it sent to your house. You have a team there that's going to walk you through everything necessary to get that ASIC set up, pointed at a mining pool, and having SatStream to a wallet of your choice. It's not trivial. You can't just get these ASICs and plug it into a wall in your house anymore. That's not how it works. There's very specific electrical infrastructure

that's necessary to have set up to take on these ASICs. So the Compass Mining team is here to help you with the at-home stuff with their support team. So you can go check this out at compassmining.io. Beyond that, they have other services as well.

They have incredible newsletter, incredible podcasts. And again, they want to get more individual ownership of hash rate to help further distribute the mining layer of Bitcoin. Last but not least, this rip was brought to you by good friends at Brainz. Brainz. So the team behind Slushpool and the team behind Brainz OS Plus Firmware. Brainz OS Plus Firmware is going to help you stack more sats. If you have an ASIC that is compatible with the Brainz OS Plus Firmware and you're not using it, you're leaving sats on the table. Do not leave sats on the table.

This is a racist stack as many sats as possible. And you need to use any means that allow you to do that brains os plus firmware is a great way to do that um so again go check out brains.com b-r-a-i-i-n-s.com and find out which asics are compatible with brains os plus firmware and if you are have an asic that is download it and get more stats for your hash uh beyond that we're here to pump insights.brains.com i-n-s-i-g-h-t-s dot b-r-a-i-i-n-s.com uh and this is a page where You're going to have a bunch of insights into the mining world, profitability, cost to mine a Bitcoin, the profitability per machine, profitability calculators, I'm saying profitability, profitability, profitability.

What else does insights.brains.com have? I'm going to pull it up here. But first, while I'm pulling it up, I'll tell you the story. Daniel Frumps, he was like, during the 2020 halving, he was like, had his computer up, He had like 100 tabs up looking at all this information in disparate locations. He's like, oh, my computer's dying. I've got so many tabs up. It's humming.

This is confusing. I need a consolidated page that does all this. And this is what insights.brains.com is. So go check this out. It's got hash rate stats, difficulty stats, hash rate mining economic charts, hash rate difficulty, hash value and hash price, transaction fees. Speaking of hash value and hash price, hash value has gone back above hash price. So it's probably a good time to be mining right now.

That's it. Go check it out. Insights.brains.com. Enjoy this rip of Rabbit Hole Recap. Beware, there's going to be more iterative changes to Rabbit Hole Recap. We're actually going to change the naming of the episode. We had an executive meeting today.

So next week, when you see it in your podcasting app, don't be startled. It's going to be a different format from a name perspective. Enjoy it, freaks. Love all y'all. Enjoy your weekends. It's a piece of love.

Tiki. You've had a dynamic where money has become freer than free. When you talk about a Fed just gone nuts, all the central banks going nuts. So it's all acting like safe haven. I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor. I mean, that's part of the bull case for Bitcoin.

If you're not paying attention, you probably should be. What is up, freaks? Welcome back to Tales from the Crypt, or Rabbit Hole Recap. I got to get better at this. We're a day late, not only a day late, I'm an hour late. Matthew, I'm sorry for making you wait, and Car as well. I've just been chilling here with Car for the last 40 minutes. We've been figuring out.

I'm stoking another stogie this week. Car said it was good aesthetic, so I'm going to roll with it. yeah a lot going on here how the hell are we i've had a long week matthew a long week i'm uh in a good way a very good way uh very exhausting i'm very much looking forward to a relaxing weekend with my wife and my son doing hopefully absolutely nothing but uh taking my son around to do kid activities the joy of doing absolutely nothing yeah it's underrated yeah it's been a week um yeah i went to an oil and gas conference uh two-day conference here outside the city of austin and i was i was representing the bitcoin um side of things

with a couple other miners as well and it was just like a really cool event uh very well put together shout out to the digital wildcatters um for the event shout out to max gagliardi for for recommending me on the panel that he he uh he led at that event and uh yeah it was great conversation and i i guess the point of my rambling here about this event is that it seems like the oil and gas industry is starting to i mean i know they've already been considering but it seems like yeah i think it's going to be interesting in the next three years because i think the bitcoin mining industry is in for a bit of surprise and they're going to see like these energy companies begin building internal mining operations that's awesome yeah i mean i

i could see that being uh you've been talking about it for quite some time um but like why wouldn't they cut out the middleman yeah i mean yeah it makes complete sense it's the thesis i'm writing i i i shield my thesis that the energy producers uh energy agnostic uh i think oil and gas producers will be significant significant players in this game but again i do truly believe that the energy companies are going to replace the central banks and again not in the sense that They'll ever be able to dictate how many Bitcoin are on the market or created or controlling any interest rates or doing any interest rate targeting around rates associated with Bitcoin. But they are going to replace the Fed window, the window through which new monetary units and cycled monetary units are dispersed to the market. And it's going to be a beautiful thing because it completely democratizes that process.

And instead of having very select few primary dealers who have access to that window, you have energy producers around the world, small, medium, large, and then people accessing mining pools as well, individual. what should be what should be interesting is uh you know around the world including the united states uh you know we have a lot of like state-run power providers um or if they're not necessarily state-run they're like quasi-state-run monopolies or whatever like in new york like we have con ed um it's not like they have any competition like that is you know i guess they're technically a private company but it's basically a state monopoly um and in other in some countries it's just straight up state run and i wonder how like that dynamic ends up working out where you have this you know proper global free market and energy in terms of bitcoin mining and

then it's going to go head to head with like one of the most controlled regulated industries that exist right you know it'll be interesting to see you obviously have like a more open free energy um energy uh market here in texas like you said you have uh com ed in new york there's pico in pennsylvania it'll be interesting to see how how this plays out um so it's happening it's beginning to happen um so just prepare for that i'm getting uh are you getting notifications or something not me okay yeah i heard it though it sounded like a mac notification oh how do you even know that so are you lying to me do you own a mac but how would you know that i mean i've used max in the past it does the little ding yeah um fuck man big week

tapper activated we're gonna get to all that should we start at clark's dashboard or you have any other uh pre let's start with clark's dashboard first of all cheers to the freaks on tapper cheers to all the developers that helped make it happen and uh on to the next one let's fucking go keep rolling there was a lot of taproot discussion at the austin bitcoin uh excuse me austin bit devs last night you want to talk about that a little bit bit devs yeah i think like when we have you know bit devs and austin's always on thursday bit devs in new york wasn't on thursdays and it was always like very helpful like having rhr after bit devs so i feel like on on bit devs weeks we should just default to friday so then you can talk about how austin bit devs went i i

agree with that uh awesome bit devs was incredible very high energy particularly high i guess unchained uh had their whole team in town uh doing some some team bonding in person uh so there was a lot of uh excited unchained capital employees uh it was a very lively conversation as always ben carmen and buck pearly were up there leading and it was uh they they took criticism they heard people they uh they were talking about too many news events and not enough technical aspects of bitcoin and then they adjusted it was purely technical no news events so we talked a lot about taproot uh how that affects multi-sig how that affects lightning uh how it affects privacy all that jazz and it was a really good

socratic um seminar in that regard we also talked a little bit about dust like how to i don't know if you saw my thread last night like i thought i had an epiphany that was like dead on and then after talking to peter todd after a bit that was like oh fuck i'm wrong so my epiph my what i thought i was gonna bring that up i don't know yeah what i thought was an epiphany like a discussion came up like number one does taproot help with dust i guess the consensus was like and maybe but not probably not really um maybe it will help with future dust creation because you'll just have cheaper transactions and um the change will be will be larger i guess that that was one of the like weak arguments that was made but i was like oh like how do we how do we solve the dust problem

and i felt like wow what if will cole and i were actually like whispering to each other in the background sweet nothings about dust and uh yeah um i thought like what if you did like dust jubilees where you have a miner or mining pool just decide hey we're gonna we're gonna do a dust jubilee where we'll allow or we'll collect dust transactions that are looking to be consolidated and and mine them even though there's there's not a lot of fees or any fees so first of all a dust a dust transaction to the freaks who don't know is when you have bitcoin fees are measured in sats per byte. Bitcoin UTXOs are measured in sats. A dust transaction, a dust UTXO is one where the number, the amount of sats in that UTXO is so small that the fee either eats up the whole

thing or a significant portion. So like if you send a transaction and the minimum fee is one sat per byte or 10 sats per byte or whatever it is at that point, if that eats up like 60% of your transaction then that's like that's what dust is yeah it's uneconomical or it doesn't really make sense to even spend it and so you have this utxo bloat it could lead to like utxo bloat where you have all these utxos that really can't do anything but they're taking up chain space or they're adding to data that full nodes are having to store uh continuously in the perpetuity so it's like one big question it's like how do we consolidate these dust utxos and of larger UTXOs that can be spent economically in the future.

So you get economic activity and then a more efficient UTXO set from a data perspective. So I thought I had an epiphany there, but it really doesn't make sense. And again, rehash, my argument was like it would make sense for a pool to do a dust jubilee every once in a while because you can make the argument that economically in the future, the ability to spend those consolidated UTXOs would lead to future fee revenue that would make economic sense. The trade-off of allowing consolidation for UTXOs to be spent in the future makes sense from an economic perspective. That only makes sense if the mining pool or individual miner that does the Jubilee is receiving the fee revenue from the-

Which they can't guarantee. yeah you can't guarantee so that's where that falls apart because like in a so-called dust jubilee which we've never had uh you only need only need one mining pool to go along with it like the mining pools each set their own parameters for what transactions they include in a block um so you only need one mining pool to go at it but there could be situations where like people pay like out of band fees yeah so that was that that only works for people that have like if you're like an exchange like we saw with coinbase during the sustained high fee market in 2017 which appears that that was mostly an attack it was

mostly spam that was causing the fees to go up from the bcash side um coinbase was in a situation at one point where they had you know a hundred thousand dust outputs that were like on the verge of being dust and together they added up to a substantial amount of fucking bitcoin like they could pay out a band to consolidate them all together and it would be economically reasonable for both them and the miner but like if you're just a if you're just a humble pleb and you got 100 dust UTXOs that add up to 5 million sats,

you're shit out of luck. I don't think you can organize an out-of-band payment to make that happen. Yes. So an out-of-band payment for you freaks who are unaware, I believe AmpPool enables this and a few others. You can literally go to a pool and say,

hey, I want to get this transaction included in the block. I'll pay you via credit card out-of-band so you'll get some revenue outside the block reward if you accept these or you can pay with them bitcoin too yeah you can do that as well um and so that like all right like going back to like dust jubilee like that's the conclusion i came to too if it's actually going to happen you probably need to do it out of band and then like there's another game theory uh war game to like things you're like all right who would be

incentivized to do that maybe the people with the dust aren't uh don't have the capital to to pay and incentivize a miner a mining pool to do it out of band but would it make economic sense for large holders who care about the viability of the chain and particularly the chain state who want utxo consolidation um to to prevent bloat at the at the blockchain like doesn't make sense for big economic actors to i guess it would be a subsidy but uh again is that trade-off worthwhile yeah i mean i think dust is going to become an issue and i don't think there's any clear answer here that's why i want to talk about it nobody really talks about it i mean i think like people are going to try and come up with answers like after it becomes a problem but i agree that it's

always better to have open discussion about this kind of stuff before it becomes a problem yeah um but like in a situation where we have widespread dust it's also going to be a situation where there's you know sustained high fees yeah and that's going to make it even more complicated Right. Because the miners are going to be just cleaning up and transaction fees to try and convince them to, you know, do 10 or 20 blocks or 30 blocks uneconomically could be untenable. yeah and so again to another extrapolation on this dust conversation so you freaks know

if you listen to some of the conversations I had with John Carvalho in recent episodes I hope everybody literally right now as the way the protocol works the way Bitcoin works and the way UTXOs work it is literally impossible for every human on earth to own

one UTXO it's going to be a very small percentage Right, 8 billion UTXOs, that's what it would be. Yeah, which would make the chain state so large that it would centralize the network and full nodes would not be able to operate in the way that they do now. So this is something that does need to be solved.

I think a lot of the core devs are thinking about it. I think, I believe Greg Maxwell is working on a covenant proposal that would help individuals, like many individuals have ownership over one UTXO and trying to do things like that. yeah did you see art by design in the comments saying he's gonna go get a drink vrb does he want us like pause yeah all right let's wait for art by design i mean look i think that's an unsolved problem like i don't know i don't know uh it's one of those things that like someone

asked me i think ruso asked me uh on the eve of el salvador adopting bitcoin as legal tender he's like is bitcoin ready for this and i was like no i was like but bitcoin was never going to be ready you have to push the way bitcoin works is like the limits get pushed and then we get prepared after the fact you know it needs that it needs that distributed pressure to actually like force uh you know improvements and yeah like we don't know where the stress points are until we hit the stress points ty why the fuck are you laughing at us ty's loling at us i don't know i think he's he's probably laughing that we said we were going to pause the show for art um the yeah again like we saw this with with the like the fees got high like you mentioned probably more due to a spam

attack than an actual economic activity in like 2015 16 17 and that sort of forced the issue of segwit um getting adopted one thing that i think uh well i think i mean it's it's debatable what was the cause right because segwit getting adopted kind of was the reason for the spam attacks but it also helped because they wanted bigger blocks clear the mempool but anyway um one interesting proposal at least in the short term that could work as like a maybe like a band-aid plus even better than a band-aid is this idea of the charming cash uh lightning semi-custodial wallets the federated custodial wallets where you have basically a multi-sig custodian and then within the wallet within that custodial pool you have privacy from the custodians in a charming

e-cash model and then you can interact with the greater lightning network so you could presumably if that proposal actually comes to fruition and it looks really promising I mean, you could have a mobile lightning wallet that someone could just load up with, you know, a million sats or even less, you know, 100,000 sats, not worry about dust, pay the lowest fees possible because it's through lightning, have pretty good privacy guarantees, even better than on-chain privacy guarantees, and interact with any other lightning wallet and not even have to worry about that whole dust conversation. um and on that note i'm having eric sirian on dispatch on tuesday so if that concept if that concept interests you uh come join us beat me to it eric i told you remember who reached out to you in july matt and i were we're racing to get him on either tftc or citadel congrats on winning that race well you told me that it's going to be like two years until we see a mobile app so we have plenty of time we have plenty of time to keep bringing them on yeah uh i'm making a routine

guest i'm very excited for for mini mint um i did not catch he was supposed to he did a presentation adopting bitcoin this week too i did not catch that yet i did not either very much looking forward to going back and and looking at that presentation i'm very excited for charming events on bitcoin i think they're gonna be massive as matt described they help uh on the privacy particularly with lightning network there's been a trade-off on custody but again it's a federated model so it's better than than one centralized third party running those and now we will officially go to clark's dashboard um how to go pick up my kid but i'll just pull the stream up on my phone and keep listening like a true freak thank you i'm glad you're actually gonna listen to the stream in

the car otherwise we'd have to pause the whole thing for you yeah hopefully your kid uh kid goes to school close because that could be a long wait the current price of bitcoin we've had a bit of a dump this week is 57 640 dollars oh god of course like the week after i'm like we're never going under a trillion of course we're approaching a rope 1.09 trillion cuck bucks uh market cap one cuck bucks gonna get you 1735 sats uh we are block height 710 469 nice uh almost nice almost 89.9 percent of bitcoin that will ever be mined have in mind right 89.89 18 million 877 841.5 bitcoins have been mined to date that will only ever there are even there actually is another fun fact for freaks it will never actually be 21 million bitcoin it'll be like just like a small

fraction below 21 million it's gonna be like 20 million 999 999.9999 or something like that bitcoin very close to 21 million but yeah not quite there well just like the block subsidy never goes to zero it keeps having until yeah um looking at chain security and also there's so many lost coins there are a ton of lost coins around four million estimated uh we had a difficulty adjustment last weekend between this rip and last week's rip that was an upward adjustment of 4.7 percent uh currently blocks are coming in at 9 minutes and 43 seconds since that last retarget we are 1179 blocks away from the next one which is estimated to be a 2.8 upwards adjustment on november 27th so that is uh next sunday i feel like we're just gonna have

constant 2-7% difficulty adjustment ups for a while. Yeah. Are we back at all-time highs in difficulty? No, but we're getting close. We're getting close.

Samurai, from a Bitcoin perspective and US dollars perspective, is a bit below its all-time highs. It currently has 4,156.04 Bitcoins in unspent capacity. Over 4,000. over 4 000 still but it has been higher um it's a 239.8 million cuck bucks ain't nothing to laugh

at though no nothing to scoff at nothing to scoff at uh yeah so that's clark's dashboard if you donate to clark you can do that i did it last week i can't believe uh it's kind of fun that like people like there are people panicking over a dump to like 57 000 yeah yeah like i think pierre said maybe like it was like three years ago now who the fuck knows and i started reading pierre's writing and in eight years ago but i think it was like three years ago or something he's like one of the coolest aspects about bitcoin is and throughout these like pump and correction cycles like you you hit a new price and then it normalizes the price and by the time you come back down um people just get immune to it it's like anchors the price like even the haters get anchored at it right like even

the haters are like oh bitcoin failed because it's at you know like 58k like even they get anchored it's not even just the believers yeah they're like oh look it's crashing to 57 000 it's like yeah you were bragging on us when it was crashing to 1200 too like five years ago keep keep hating keep hating um yeah i guess this was a sell the news or like a lot of people like that i had a few discussions about this last night apparently a lot of people were saying like taproot was gonna be like a bullish uh but we told people out of time yeah um i was not expecting it to have any effect on the price and then we had we had our boys at trinity like message us like saying that we were like wrong ish for saying

like taproot was going to take a while because moon to use was really quick to add taproot so it was chirping at us um it was fantastic to see moon add taproot so quickly uh for two reasons uh the number one reason is their whole wallet setup depends on multisig so you get immediate uh privacy and fee cost a transaction fee benefits from switching to it but also uh because the coolest part about moon is you can scan any qr code in bitcoin and pay that qr code and since they added taproot about an hour after it activated that remains consistent it's like it's still it remains the only wallet where you that i know of where you can scan any qr code and it doesn't matter if it's a taproot address a legacy address a segwit address a lightning qr code it'll

pay it yeah but that doesn't change my opinion that people that were expecting price pump expecting immediate adoption like you gotta lower your fucking time preference how many times do we have to say it is this tftc or the up and smoke tour omar you want to talk about how nicotine exists in cigars uh well i think i deserve somewhat of an apology i don't think you deserve an apology for that i come on did you see the clip i posted well yeah i i listened i listened to the clip there is nicotine in here but yes and cigarettes and other tobacco they add nicotine to jack it up they add additional i was right where i said i thought nicotine was an additive it is an additive you can add it you thought there was no nicotine in cigars period because

i thought it was only an additive i've only ever like you're not getting an apology no like a half apology like you were if we had bet on that i would have won the bet i don't know about that because i'm correct like nicotine isn't added we should have had car ready to go like play the tapes yeah the freaks can go back and listen last week you clearly thought there was no nicotine what did you tweet that marty uh i tweeted out so rom white no you don't have to play that clip that clip just says that nicotine's added to cigarettes like additional there's additional nicotine added to cigarettes you don't have to play that clip

it's an irrelevant clip the TLDR is Mark do you disagree with my TLDR of it? no but I think come on I think you guys are pulling on a little bit I think I was directionally right no you were absolutely objectively incorrect

no objectively I was half incorrect so I was like oh I thought it was just the additives like they sprinkle more in which is true no i just thought they didn't yeah you were objectively incorrect that's okay okay enjoy your nicotine i'm gonna enjoy my nicotine it tastes good on a cigar because there's less of it as normal tacos just said they they they favor um taste over

over nicotine here yeah i'm trying to find it right now no you don't have to find a car it's there's going to be a shit ton of content between now and then it's unnecessary actually no yo up top top right media top right block there uh right under search twitter the top i mean you're just gonna watch marty's boomer screenshot marty recorded marty recorded out of there the video clip of his iphone right below record a podcast see the six box see the six box media yeah top right this one the marty this is the most boomer screenshot ever i'm surprised you didn't pull out the video camera and just film your phone uh you know i started smoking cigars when i quit smoking cigarettes so maybe 20 years ago you quit smoking cigarettes but those little cigars you smoke i

think they're kind of cigarettes you're jacked with nicotine and i didn't know that because these aren't there's more nicotine in one of these little things than there is in this whole thing really yeah how's that possible it's because they just jack them with nicotine nicotine can is an additive i mean they add nicotine to them sure they do you smoke them like a cigarette or do you smoke them like a cigar i don't even know i mean after uh years so how many how many i told you the clip was irrelevant marty just accept personal responsibility that you were wrong on this one i was half wrong i'll accept half wrong there i'll accept half wrong and also that that fucking was the most boomer way to share a podcast clip i may or may not have been driving

uh and just like i was driving uh listening to that i was like oh fuck yeah everybody piled on you know it was half right uh and half wrong i was half and cheers to the freak who made the marty in a full newport meme that was hilarious yeah i'll never smoke menthols those are disgusting um when uh what was i gonna say i was gonna say something else you interrupted what line of thinking was i going on we're at the clark's dashboard oh we were talking about taproot taproot um moon wallet oh i was going to mention i don't think you have this on the list but it sounds like cash app's going to have um uh pay to taproot script functionality you're gonna be able to pay the taproot addresses yeah december one

from cash app uh in a couple weeks here yeah i mean i don't think that's news but okay i mean we're talking about wallets that are ready they're going to be ready yeah who else is going to be right well you know it's disclaimer the sponsor of the pod i didn't see this blog post i just saw the tweet about it yeah um there's actually a decent amount it seems like there's a decent amount of exchange and brokers that have added you know what it is is like this in this round other than seg unlike segwit there's at least a few like competent exchanges and brokers that realize that if they're the first six to support it then they get like additional publicity they get additional pr out of it but then i imagine it'll plateau a

little bit yeah you're sitting here with cash up and moon it's working yeah but they like get out real quick and then after you you pass that initial point it's going to be there's going to be uh you know a huge it's gonna it's gonna take a while for the the other guys to catch up and actually implement it yeah tl tl conscious is asking the comments about is there any advantage closing channels and starting ptlc's now like i don't know i scared the shit out of people you scared the shit out of people i'm okay with slow rolling it's not ptlc's aren't even going to be ready so don't like yeah just listen to marty slow roll it and then when your channels are under the dust limit you can try and close them then yeah i mean it's going to take time i

don't think you could even open a ptlc via tap root and snore right now you can do it yeah you can do with an extended ecdsa signature but um it's a little janky from what i understand i mean like if you have like under 20 channels or something like you're fine you can just deal with it in the future yeah i mean if you want to like and for people that are running like larger routing nodes that have a shit ton of channels that should be considering it that was actually that was actually one of the topics uh at bit devs last night uh roast beef lalu from lightning Labs. He actually wrote a very in-depth email to the Lightning mailing list that he proposed three avenues by which we may transition from HDLCs to PTLCs. I don't know if we can find

that before we wrap up this show, but we'll try to link to that in the show notes. If you're wondering how to do that, don't take it from my school. I think Lalo has better ideas on how a smooth transition may go. We have Tyler Ghost in the comments asking how much we make from our routing nodes. Like I lose money from my routing nodes. So don't do it for the money. If you're going to do it,

do it to learn ideological reasons. If you do make money, some people do, you're going to make very little. So don't do it for the money. Yeah, I think at some point we're starting to take this this operation more seriously as you freaks can tell maybe at some point we'll we'll hire like a professional node operator to make profit out of it but but then he'll just his salary will eat the whole fucking thing anyway

i think over time like long term like a more sustainable type fee market will develop and and you'll have different tools for routing node providers. And you already kind of see it starting to shape up. But the thing is, is if you're running a sovereign private routing node through Tor only, you're at a major disadvantage compared to the corporations that are doing it, that have it on a high-quality server in a server farm going out through ClearNet.

um so i'm talking specifically sovereign routing node in tor through tor only you know you control the hardware it's not in some server farm it's not on aws or some shit yeah yeah be aware of that and that was another thing too like taproot doesn't help privacy at the lightning level uh not inherently because you still have to do like public channel opens but ben carman said there's there's ways to get around that i believe matt corallo and roast beef had a back and forth thread that we're discussing that like how how can we ensure the tap roommates could help with private channels yeah there's certainly private channels um but when it comes to public channels you do you're literally broadcasting the utxo and you open the channel so yeah yeah um

so um but like private channels can also get probed yes so that's not foolproof um these are you know this is just the beginning freaks it's the very beginning we gotta it's gonna take some time it's gonna take a lot of time Marty did you see that while I was waiting for you uh while me and car were waiting for you we were we were both waiting for you um Square released the white paper for their decentralized exchange I did not see that TV decks what uh they're queue with a tbd were you um were you able to dive into it at all not really i barely looked at it what's the what's the reception looking like i didn't look at that i was just chilling with car to be honest okay um it seems like very high level right now um and they want to make it as

flexible as possible so some people they had an interesting concept in there where some people um if you give up more information so you're giving up more privacy and you're not using it as privately uh you'll probably end up with a lower price because it requires uh less trust i just want the abstract then if you and then if you uh if you try and use it in a more private fashion you'll end up with a higher price and they think they'll be like kind of decentralized market forces free market forces that will like kind of find a balance and like what the cost is depending on how much private information you give but they want to incorporate uh decentralized id dids um yeah so i mean i'm just gonna read the abstract i'm gonna read the

abstract for people who aren't watching and are listening at home tbdex is a protocol for discovering liquidity and exchanging assets such as bitcoin fiat money real world real world goods when the existence of social trust is an intractable element of managing transaction risk. The TBDEX protocol facilitates the centralized networks to exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity, DID, and verifiable credentials, VCs, to establish the provenance of identity in the real world. The protocol has no opinion on anonymity as a feature or consequence of transactions. Instead, It allows willing counterparties to negotiate and establish the minimum information acceptable for the exchange.

Moreover, it provides the infrastructure necessary to create an ubiquity of on-ramps and off-ramps directly between fiat and crypto financial systems without the need for centralized intermediaries and trust brokers. This makes crypto assets and decentralized financial services more accessible to everyone. I mean, this is a pretty big deal for Square to be coming out and supporting this, right? oh 100% yeah that's pretty massive I mean that abstract is very bullish if they can pull it off

it seems like they're focused in the right places yeah let's fucking go it's time freaks it's time hold up a mirror to these KYC AML policies and

attack them straight on say hey we have the facilities and the technology and the ability to build systems well hand up hand up what are we going to say I mean they could be

they could be applauded for this depends on how it's implemented or whatever but this is this is KYC agnostic right so like you can be using it in a fully KYC cuck way or you could be using it in a more distributed private

way and it's like up to the market to decide how they want to use the protocol but the protocol basically scales in both directions so you can use it you know fully kyc'd as well which is an interesting it's an interesting aspect of it because you never you never see from the ground up any of these kind of protocols or projects uh try and tackle that basically they always try and tackle the no kyc completely private way and then in some cases especially on ethereum like an ethereum indexes they get hit after the fact by regulators and then they have to kind of like band-aid it on top like add kyc after the fact yeah um so this is like almost it's embracing that many parts of

the world many many users of the product counterparties of the product that are on either side of the trade will want you know pretty stringent kyc but also that there'll be users that won't so it should be interesting to see how those play out side by side this is like uniswap almost right what do you mean i don't i don't see similarities with uniswap i mean uniswap has the open protocol but they also like have the company that's implementing the protocol with kyc right that would be different than my understanding of this so with that with that like uniswap the company is providing like a web interface to the protocol and that web interface is centralized and is handling all the kyc data and whatnot and preventing users from signing in

but with this it's like on the protocol the protocol allows the two people trading the seller and the buyer to exchange that private information if they so please but it's not going through a centralized entity ah okay boss so it's better better design it's different it's a different trade-off model yeah but it's at its core like uniswap pretended they were never going to block any users they were never going to block any assets and then they added it after the fact this is like embracing it from the get-go like the buyer and the seller are deciding the terms and the protocol should allow the buyer and the seller to do what they want to do and that could be completely cucked or that can be completely private and there's going to be a

scale there with different shades of gray depending on what the buyer and the seller want to do with different market prices based on supply and demand yeah that's my brief understanding i like read through it in like seven minutes so we'll talk more about it as it as it goes well regardless i wish the tbdex team luck i'm very excited to see what they bring to market more projects like this please just i think they like i think they gave themselves a self-administered deadline to release the white paper today as well so they stuck true to that i like deadlines i like deadlines forces forces people to act baby forces people to act speaking of acting the sec is not acting on uh allowing you know the vanak etf to get through is vanak ever going to happen

garber like i feel bad for him man yeah i guess you see rejected well they have a futures etf that went through right was it van x are you sure if they haven't had one go through already they're gonna have one go through we were talking about this earlier like i am super bearish on a spot bitcoin etf happening like it's not a coincidence that after all these years they finally allow a etf and it's based on cash settled futures that are completely cucked uh you know the powers that be don't want us to see a spot etf and they have no good reason at this point they just keep pretending they're protecting investors but like how can you be protecting investors if a spot etf is strictly better well the reason is custody then if you choose etf at least that's what they're

saying the reason is is custody they're not yeah and what it's like better to have a product that doesn't own any coin versus a product that claims to own coin that might not own it ridiculous well i think it's like i don't even think it's like a rehypothecation thing it's like they don't trust these institutions to secure Bitcoin private keys correctly. I guess I think that's the argument the SEC is making. And they're rejecting these spot ETFs.

Yeah, well, I mean, I think it's... You know, it's easier to suppress the price and fuck around with cash-settled futures. And the powers that be are going to delay a spot Bitcoin ETF as long as possible. and i don't think that people should be buying an etf period i think they should buy bitcoin directly and they should learn how to custody it themselves and use their own node over time

you can start by buying it directly uh but some people will demand these etfs it's it's easier especially for the boomers and and you know the ultra wealthy and institutions and if they do they should prefer a spot etf um but they don't have that option available to them so it's a shame it's just a it's a perfect example of of the clown world bullshit clown world you know burdensome regulation pretending to protect you but really just hurts the individual yeah and there's like some really fucked up etfs that are available like you can do like these like 3x short levered uh sp you know spy trades of you're like shorting the s&p 500 and they like recalculate every day so like you can't hold them long term like super gambling bullshit that they allow but they won't

allow this you know it's always been a emperor has no clothes kind of thing yeah again we'll say it again and again and again btc is the etf stack utxos not i think that's diminishing bitcoin but i appreciate the sentiment it's not i mean it's just i mean btc is better than any etf that's ever existed yes yeah i mean it is superior to the respond why is it when you can know btc like well like it is an etf was an etf supposed to be an index that tracks the price like bitcoin btc an exchange traded fund yeah etfs inherently have a third party cucking you yeah there's never been an etf without a trusted third party bitcoin doesn't have a trusted third party you can hold it yourself it's your own money like it is so much superior than

like we're diminishing i understand the meme factor of btc is the real etf but fuck that like bitcoin is way better than any etf that's ever existed btc is better than the etf yeah that's the meme take that wrong with it lack of spot etf just punishes the rich or forces them to go self-custody good luck uh next on the list a little perky story here out of paris australia my uh my college roommate shout out jack he actually went and lived in paris for like three years. Big fan of Perth. And from what I understand Perth, despite how

draconian and dystopian Australia has turned into, it is again an open-air prison. That's how it was founded and it seems to have traveled back to its roots. From what I understand Perth's been pretty base throughout all this in Western Australia.

If their baseball team's indicative of the culture of the city, it is pretty base. Perth Heat are operating on a Bitcoin standard now. It's become the first pro-baseball club to power bitcoin payments and payouts to players and staff using the lightning network this is pretty pretty massive i actually have them in the dms stefan had them on their podcast uh stefan lavera podcast earlier this week uh and we're gonna get them on tftc too to talk about this i

am i mean these guys went full bitcoin standard they're receiving money in bitcoin uh from advertisers they're paying uh players in bitcoin you can buy merch you can buy tickets in bitcoin they're going to hold a treasury balance in bitcoin they're actually going to hold bitcoin on the balance sheet they change their uniforms to incorporate the bitcoin logo they have a new web page bitcoin perth baseball uh like they might have actually changed their team name to incorporate bitcoin like they're going full out on bitcoin uh and it's like absolutely amazing to me because you know australia is not known for their baseball like i've never given a shit about an australian baseball team but meanwhile i am super excited about this uh and like crypto.com

spent 700 million dollars for naming rights over the next 20 years of one of the most iconic arenas in the world the staples center uh where the lakers play and the clippers play um in la and i'm more excited about this than i am about that you know so i would love to see you know i would make this move yeah it's gonna be i i'm always gonna call it the staples center it's like that's so funny because like it's like when they need to rename the sears tower to the willis tower like i'll always call it the sears tower but like fuck sears and fuck staples they're like the worst businesses ever like it's hilarious how that becomes a thing it makes sense i mean they're both out of business i don't staples probably not yet but probably like do you think

like close from the grave you think in like 10 years when crypto.com goes out of business the rug pull center uh and like someone else names the arena there's going to be like kids that are like i'm always going to call it the crypto.com arena like well i have no allegiance to staples as a brand i have no allegiance to sears as a brand but here i am feeling like my boomer nostalgia or i'm like oh it's always going to be the state we had this happen uh in philly if you grew up in philly a lot of the concerts you go to are actually in camden and this big outdoor venue and it started as a tweeter center i still call it the tweeter center to this day but it's had like five names but tweeter center susquehanna bank center and it's like something else now

um but i'll always call it the tweeter center yeah boomer uncle marty's just gonna shea stadium will always be shea stadium yeah yankee stadium will always be yankee stadium oh wait they never sold out yeah well they're the yankees they don't have to no one has to sell out none of these teams have to sell it you think the fucking you think the lakers need to sell their arena rights they don't have to it's just like peak fiat bullshit that these guys like all they can't handle like leaving some money at the table and they all sell out their fucking sports team their sports arenas names yeah it was just shit like crypto.com like that's a big brand like people actually got like any ftx crypto.com

coinbase they're buying up a lot of real estate in the in the marketing sector i guess that's a good question like do we need the uh strikes of the world cash apps rivers like get on their level unchained um wallet providers like are they going to need to develop marketing war chests to compete or like it does does this does this uh the stadium naming sort of throw the public in the wrong direction and should we combat that or it doesn't well how many people texted you the crypto.com news quite a few my mom my mom so many people yeah and they like were congratulating me they're like matt you made it look like fuck staples staples is replaced i was like no no no 20 years this is miserable yeah yeah um tftc curling arena we're not big in canada

so not that time soon there's but it's like cheap entry point yeah yeah what do you think do you think uh the bitcoin only brands he's a i think i think fuck the naming whatever like if ftx wants to have the ftx arena crypto.com wants to have the arena like yes it'll make me cringe even more when i'm watching sports um it's already like you know like sports especially after 2020 like became more of like a bread and circuses type of thing to me as well same so like i was already like kind of disillusioned about it um the nba but i think as hyper bitcoinization continues like we're gonna have a lot of bitcoin owners that are gonna own clubs they're gonna own teams they're gonna own f1 f1 teams they're gonna own you know baseball teams they're gonna own

basketball teams and they're not gonna fucking sell out their naming rights for fucking bullshit like they're not going to have their fucking arena named twizzlers arena or whatever no it gets fucking ridiculous what is your arena going to be named mad madden citadel arena no no that's even that's even worse like you name it after yourself is like that's so bad you're better off just selling it to crypto.com at that point yeah mine's just gonna be the arena it's gonna be the arena you're gonna we're going to the arena we're going to the arena the sat station i don't know i need to i need to work stop workshop the foster that's a good foster there you go i've already named it uh yeah so that's happening i'm sure we'll see more

of this um it'll be interesting to see the superbowl commercials this year how many over under three crypto related superbowl but brady and ftx are already one they're already doing when they've admitted it. Crypto.com, if they're spending, Crypto.com spent $700 million on this and they spent $100 million on F1. And $100 million on F1 was for one season, I believe, of F1. That's a hefty price tag.

The $700 million is over 20 years. It still doesn't really lower the cost that much. Yeah, it shows the prestige of F1. You'd figure the NBA would be more. well so with f1 they like sponsored the league so every f1 race there's like a crypto.com corner and it just says crypto.com crypto.com crypto.com all over yeah all right enough crypto.com don't don't use that site freaks don't give them clicks they also have their own shit coin so it's like worse than just a regular yeah and they got like the they were like the second one

to get like the the symbol behind it after bitcoin right because they paid for it because they paid for it but bitcoin didn't pay for it no it didn't because bitcoin can't pay for it there is no leader of bitcoin i don't think i'll ever own a sports team no i would like to own a lacrosse lacrosse is going to overtake football one day and basketball i would own an f1 team okay i can get down with that if i was gonna if i was gonna own a racing team would be cool i'll go in on a racing team with you yeah post but it would also be cool like i'm really hoping just like my friend's own teams like i feel like it's like a boat you know like the best the best team you can own is your friend's team yeah you don't even own it you're just like hey you want to come yeah just go

don't fucking worry about it yeah yeah um that was that was talking sports ball and tftc next we got uh next we got uh i dropped an episode second episode in a month with john carvalho earlier this week and that was because he in conjunction with Tether and the Bitfinex team announced the launch of Synonym, a company that John and team have been working on in stealth mode for almost two years.

They announced it at the Adopting Bitcoin conference this week and they're looking to bring... In El Salvador. In El Salvador, what did I say? No, you just said Adopting Bitcoin. I just thought it was of note

that it's in El Salvador. There's two conferences is going on in El Sabado right now. Yeah. Adopting Bitcoin and a little bit of Conf. Yeah. And so they're trying to create primitives and coding, excuse me, code libraries and ways

to leverage Lightning Network specifically to create things like tokens and do some unique things with private-public key pairs and identity and all that stuff. So I haven't listened to you and John's episode yet. I've read the website.

It's a Tether subsidiary. First of all, congratulations to John to finally having the public launch. I know he's been building up to it for a while. It seems to me the main goal of this company is to get Tether and other tokens on Lightning. Would you agree with that? I think it's certainly...

I don't know if it's their main goal, but I think it's their top priority at the moment to get some product market fit. Yes. The single main goal of the company is to get Tether onto Lightning Network. And along with that, other tokens like NFTs and any other token you can think of well gift cards if you listen to um to the episode or some

gift card talk in there as well but gift cards are just tokens yeah okay that's fine but like that that's what it is which is you know there's there's utility in tether people use tether all the time if we had tether on the lightning network that would be massive to people who who who need access to black market dollars um so there's a clear product market fit there because people love tether um tether obviously already has you know massive third-party risk that if because they're like breaking u.s regulations so if they get shut down you lose all your money um but they've lasted way longer than i've ever expected uh they've somehow been nimble enough to avoid u.s regulators we seem to be playing nice with the regulators right now like they're

giving monthly audits or quarterly audits that yeah but they're still allowing dollars without kyc yeah this is not endorsing tether we've never endorsed tether we're not endorsing tether i'm not endorsing tether yeah i'm just but that's the point of this company literally this company was funded to get tether on lightning network because it's a massive opportunity to get tether on lightning network and then everything else afterwards is gravy well i think there's more to it again you should go listen to the conversation with john because it ties an identity and in just the way creating webs of trust and creating conditions for interacting with certain um applications that could be native to your friend group or something like that

uh it's trying to bring like a robust distributed um identity and i just feel like you're reading the marketing deck this is the way i this is the way i understand it um after all this again like the two main is like tether and nfts you get like tether and nfts onto lightning there's massive product market fit for it regardless of my personal views of tether and nfts there's a massive product market fit for that and that is the main purpose of the company and that's why tether and bitfinex were willing to put in a decent amount of money to make it happen and everything else on top of that all the other lightning services functionality they might be able to incorporate in the future is just gravy the the key the key goal of this company is to

get tether and other tokens including nfts on the lightning network yeah yeah um so we'll see synonym is launched they're they're launching uh that's synonym.2 if you want to check out the Yeah, I believe they have some libraries, some open source libraries available if people want to start building. Doesn't Liquid do that already? Yes, a different model. No one uses Liquid.

Some people use it. Who uses Liquid? There was a... Wall Street Bets is making like a stock, a synthetic stock exchange on Liquid. I saw that. I use the Beefsteak Index. there was a single person that paid for austin beefsteak and liquid yeah there's not many

bitcoiners i know they use it outside of blockstream folks um the beefsteak index tells you it was down for a day and a half when i was in i was when i was at the hrf event in miami and like there wasn't a single person complaining on twitter no one is like no one's freaking out hey maybe you can go to liquid. if you go to liquid.network it's uh the mempool space instance of liquid and like if you send a transaction on liquid while you're watching it you're the only one in the block just literally just hey hey it's there maybe it hasn't found its product market fit maybe people haven't figured out how to utilize it like zero transactions you make that big car can you make it big fuck our faces get rid of our faces just make the whole

don't fuck our faces please i don't have my face look look how empty it is look how empty it is This is fucking ridiculous. Scroll right. Scroll through the past blocks. Is that a coin-based? Could that be a coin-based transaction too? The only transaction is the coin-based transaction. Do they have coin-based transactions? That one has two.

That one has three. Wow, 3x the transactions in that block. It's worth it. I will give the caveat that they're one-minute blocks. They average a block every minute.

obviously there'd be less transactions in each block, but still that's pretty bad. Yeah. Hey, it's there. It's working. Maybe somebody will find use for it. It doesn't seem like many people are using the synthetic stock exchange

that the Wall Street bets people are building. So we have Tyler asking, will the Miniment stuff be on Liquid? Now, the whole point of the Miniment stuff is to kind of bring the federated model that Liquid uses, but put it within a custodial wallet on Lightning so that you're able to interact with the greater Lightning network

without having to worry about swapping between the two networks because you can send and receive from Lightning. So one of the key things here is basically moving that federated model of Liquid into a custodial Lightning wallet environment so it can just interact directly. Because right now, one of the biggest friction points of using Liquid is you either have to peg into Liquid, which is permissionless, or you have to use a centralized third party to swap into liquid, like if you were trading for a shitcoin to go from Bitcoin to liquid Bitcoin, and then you have to swap back out. So you have

to move between the two chains because they're distinct chains. But if you put a federated environment within a custodial wallet, you add some Xiaomi and eCash on top of it for privacy, then you're able to interact with the greater lightning network. Every single lightning wallet is operable with it and without having to deal with those swaps in between. So could you implement CharminiCache on Liquid? Probably. Yes.

Yeah. But you know, maybe if they implemented it there first, they'd actually get some users. But would you even need it? They have confidential transactions. Why would you do that when you have confidential transactions? So confidential transactions are

kind of a step below CharminiCache in terms of privacy. charming e-cash has custodial risk which is reduced by the federation element that eric sirion added to charming e-cash but it has better privacy guarantees than confidential transactions confidential transactions blinds the amount and the asset so you don't know if you're sending an nft on liquid or tether on liquid or bitcoin on liquid and you don't know the amount but you know the sender and the receiver yeah um i would like to see and i've been saying this for a while and I've gotten called a shit coiner for it that I would like to see like a coin join implementations

on liquid because with coin join on liquid, you don't have to have equal amounts because the amount is blinded. That's the key thing. Confidential transactions does, but I'm 99% sure that the different federated federation members of liquid are scared shitless that if they add like a privacy tool to liquid, they will get hit by regulators because they're known entities running the network. FATF's going to come. Wait, so confidential transactions isn't enough? Like that's not enough to get the regulators at home?

Well, no, no. I mean, if you have confidential transactions and nobody uses it, like, does it really matter? Yeah, like, why would anybody use a coin joint if they're not using confidential transactions? Yeah. That was enough liquid talk for today.

It doesn't matter. All this is bullshit because everyone's just going to use stacks. our stack show of the week from matt o'dell he's getting paid under the table light him up in the comments freaks i'm fucking with you like that nobody used stacks like that shit no i'm fucking with you i'm i'm hopeful for liquid i think i think it maybe it's just like a little too early and people will find use cases for it the future i don't mind that you're up front with the the uh the centralization trade-off with the federation and i think it could it seems like it enables cool things but we'll see matt is in this fax pack

i'm looking forward to that getting taken out of context onto some of our favorite topics friday if you don't get yourself involved with some extra drama going into the weekend uh under some of our favorite topics here which is uh bitcoin and regulations uh senators widen and lummis submit a bill to restrict bitcoin tax reporting rules in the infrastructure bill uh and uh piggybacking on that uh senator cruz which i prefer uh he submits a bill to repeal the bitcoin portion of the infrastructure bill um outright so senator widen and lummis they want more clarification and more uh clearly defined definitions of the language in the bill uh and ted cruz just wants to scrap any mention of bitcoin and cryptocurrency

in the bill i prefer the latter um but i'm happy both efforts are being made um i mean obviously i just prefer no regulation period yes um i do feel like the cruise one is more of a uh publicity stunt yes and that's never gonna happen and the the wide and lummis one is actually possible probably also never going to happen but more more practical right like it's more gamesmanship yes yeah um so here's what they say our bill makes clear that the new reporting requirements do not apply to individuals developing blockchain technology and wallets so they're trying to uh save the developers here um who there's vague definitions and some people think that developers can get thrown under the bus if the bill is is passed and amended as written

and so with the infrastructure nothing goes live until like 2023 but we talked about this I mean like where if you send a Bitcoin transaction you need to like KYC 1099 all that bullshit yeah like you have to have like the name of the first born child and like a blood

sample fortunately TV decks will allow you to easily transfer that information between each other if you so desire yeah yeah how do we miss speaking of blood of the firstborn do you not have the hillary thing on the uh no while i was waiting for you car was me and car were practicing playing videos through

all right let's play live and i didn't think the first thing we were going to do is your boomer video screenshot of the joe rogan episode um but yeah let's play car let's play the hillary And then one more area that I hope nation states start paying greater attention to is the rise of cryptocurrency, because what looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency for destabilizing nations, perhaps starting with small ones, but going much larger. So when we think about this new environment in which we find ourselves that we've been discussing for the last some minutes, we can't just think about nation states. All right. So this video is something Matt clicked.

and on the tweet you put the equivalent of blaming lifeboats for the titanic sinking rather than the ship designers or crew so i couldn't put it more succinctly yeah so hillary clinton's trying to add bitcoin to her kill list uh it seems and i don't know if it's gonna be but this may be the only thing she can't kill and uh the uh yeah i mean they i tweeted this out a couple weeks ago when some some think tanker came out was like bitcoin's destabilizing the dollar it's like it like you said it's the exact opposite they're blaming the lifeboats when the design of the dollar the titanic the analogy is the dollar and the way it works is the reason bitcoin exists i mean you go back through satoshi's email specifically and he's like i designed bitcoin

because you cannot trust the central authorities not to debase the currency and to prevent other people from receiving and sending money like i i created this because these inherent problems exist in the traditional system and the dollar reserve system but they're they're warming up the bitcoin is destabilizing currencies and in the u.s dollar reserve status and it's in the bullpen and it's funny like well let's dissect like one thing she said too which is the complete opposite of what she said it can destabilize smaller nations it's actually like what we're seeing in el salvador what we've seen in venezuela and argentina it's not necessarily stabling those nations but it's helping bring stability to some individual lives within those

nations who are living in a very unstable environment um so that was some that was some projection there from her i mean i think in general uh we expect weaker currencies to fail before the u.s dollar does because the u.s dollar has reserve currency status yes um and those countries don't have the benefit of borrowing in their own shitty money um so like there is maybe something there that you know if you have a shitty currency and you have the completely shitty currency and you're a small currency uh both the the u.s dollar and bitcoin provide an exit ramp that will speed up the effects as opposed to something like the united states right where it'll be maybe a little bit slower that it happens um i do think uh that and i've thought

for a long time that when all this shit really hits the fan you know we're going to be one of the main targets and most people will just or just bitcoin no big corners well especially public big corners but like big corners are going to be some of the main targets and we're going to be easy scapegoats like half of the country already hates rich people um you know there aren't that many bitcoiners uh and it's just like you watch 2020 happen and just people getting gas lit left and right that were like small business owners like respected people the community like firemen like nurses you know like we don't have a leg to stand on like as a bitcoin is compared to like fucking nurses um and like nurses are getting their lives destroyed right now if they don't

fucking comply uh so i think we are going to be a target i will say that ever since hillary lost the election uh i have been very outspoken that she was always the massive enemy to bitcoin and that we really lucked out that she lost that election like getting those four years where she wasn't in office was fucking massive and this is a perfect example of that and last but not least this is the single best advertisement for bitcoin i've ever seen yes and so legitimization yeah and like this so this is the theme right now like when i was at the oil and gas conference on the panel somebody asked um asked me like oh well the u.s dollar is a reserve currency like what are you doing like actively like destabilizing attacking the dollar and i had again this is just

so any of you freaks listening to this that's going to be asked at thanksgiving you're going to have your your aunt who was a large hillary supporter saying like i heard hillary says going to destabilize the dollar like what about that you say no like from first principles bitcoin was created because the dollar is inherently unstable uh like it is a solution to the instability of the dollar it's not causing it you're getting your cause and effect backwards and aunt susan okay and so was hillary uh and then you lean into it like this means this this meme describes it perfectly it's the bike riding meme the dude puts a stick in the spoke uh increases the money supply a single year bitcoin is destabilizing the u.s dollar uh and then again like everybody's like

it's anti-American. It's anti-America. And I think what Bitcoiners, specifically over the last two years, have done a really good job highlighting that Bitcoin is probably the most true to American ideals out of anything that exists on the planet right now. It is the greatest extension of natural rights. It's even greater than the Bill of Rights. It's the greatest extension of natural rights since the bill of rights and as far exceeds the bill of rights and the way it preserves, uh, your, your property rights and your freedom of speech in the form of communicating via, via monetary value. And it allows anybody to participate. Like it is open source. You can download the code, you can audit it, you can verify it. And that's like the weird thing, again, going back to

projection, all these people who are very close to the teat of the monetary system and the incumbent power structure are trying to project onto the world their flaws. They are very destabilizing. They are not free and open. They do not allow you to audit them. They do not allow you to have any say. They pretend that you have to say what your vote, but we all know that's all bullshit at the end of the day. And again, this is a huge gaslighting projection campaign that's starting to warm up and it's only going to get more aggressive from here. So it's important that we get out in front of this is why i'm very happy that we still have independent media thank you youtube for keeping us on maybe the hillary uh kill list comments thank you bitcoin tv.com

thank you bitcoin tv.com as well um uh i that's hilarious is your aunt the one as well because i have an aunt and apparently mike crv also has the aunt as the aunt oh i've got many aunts yeah is it aunt or aunt aunt aunt it depends on what part of the country you're in um i think i say aunt i might say aunt i say aunt i think i say aunt but that's very northeast from what i understand uh what aunt no aunt is very northeast so i'm trying to i think i say aunt daria i just said on though so you know who the fuck knows i say hey what's up aunt nancy that's what i'll say hey aunt nancy if you're watching i doubt you are what's up classic marty just doxes his aunt How do you know? Auntie. Yeah. Yeah. Again, point is they're warming this narrative up in the bullpen. I'm seeing it more and more in the press. It's been energy FUD. And so they're going to combine the energy FUD with the destabilization of the currency FUD.

and they're gonna they're gonna engage in a full-on frontal attack from the narrative perspective on bitcoin to destroying the environment to destroying the dollar um but we're here to help educate and get the information out there that this is nothing gonna be further from the truth i think bitcoin is the lifeboat uh thank god we have bitcoin without it these policies that are inherently destabilizing to these currencies would still be going on and we would not have any alternative maybe gold would be the only one but that would be a very shit alternative in today's day and age so thank god we have bitcoin don't let these people control the narrative get out in front of them hold up a mirror to them call out their hypocrisy

and explain to everybody these people are projecting their flaws onto bitcoin you heard it here first freaks bring a mirror to thanksgiving dinner aunt susan and tell them marty from tales of the crypt sent you for you know we're gonna get like a fucking video some freak that'd be great we should sell branded brand branded tales in the crypt uh mirrors just merge add to the merge yeah yeah um you just pull it out and like not only do they see themselves but it also says subscribe to tales from the crypt on the top yeah these are my tips for a fun thing you know what this thanksgiving we're going after the family we're going to unabashed hey this is here that's another

thing i did on this panel today i went to these oil like big dick oil and gas executives i was like whether you agree with me or not whether you recognize it or not it's happening you can get on or get left behind like i don't care it was like a satoshi to dan larimer like if you don't get it i don't have time to explain it to you what's happening you need to get on the boat or uh stay on the titanic okay uh and i think inducing that kind of fomo and having the confidence to be like it is happening like i'm at that point now i'm eight years into my bitcoin journey bitcoin's 13 years into its journey it's not going away it's like you like when do not argue with these people just like hey you don't have to believe me you don't have to believe in bitcoin but it's

happening this will be a good thanksgiving it's going to be a great one i'm ready thanksgiving like there'll be more arguments over like vaccine mandates and shit than there will be over bitcoin i think the the hard the hard thanksgivings are when you've shielded everything's like if you think about it if you've shielded every thanksgiving like 2015 thanksgiving was pretty tough 2016 thanksgiving was pretty tough 2018 thanksgiving 2019 thanksgiving like those were the tough ones right because we were down like 80 and you shielded the year before uh and all the years before that as well like sitting at 60k or wherever we dumped to uh before thanksgiving to complete my jinx uh will not uh like i think all my family now at this point like

they know matt was right like there's no uh i don't have to convince them we are the iceberg cars cracking up like crv you got you got car dying over i don't think he's going to be able to make it through the stream we are not the iceberg don't let don't don't let them pigeonhole us as the iceberg to wrap this up uh this particular theme of the episode uh the irs uh sees crypto caesars worth Billions of dollars next year. Tax agencies, $3.5 billion in the past fiscal year. This year, it's a three and a half bill.

So the infrastructure law gives the IRS more sight into crypto trading. So if you're trading, it's probably wise decision to, you don't even need this for it to be wise decision to stop. But if you ever need more incentive, this is probably. I mean, the only ones paying taxes on their trading are the ones that made profit. Yeah. Which is everybody.

Everybody's winning these days. no don't trade but don't trade their stack sats um so be aware of that yeah obviously i'm just saying like that's like a common like i it's just it's just a thing that is just like like you pay taxes on your profits so yeah um just stack sats and hold you don't have to pay any taxes yeah most people who trade are losing money though so yeah um on the shout outs and And like, I imagine like, I've never tried. I've just like taken my lessons like a man when I was a young big corner and I lost money, uh, trying to trade. Like, I don't think like, if,

like if you go to, if you go to the IRS, you're like, Oh, I lost this money on like fucking Shiba Inu or some fucking shit coin. Like they're not going to accept your losses. They only take, they'll only take your gains. They won't take your losses in this fucking space. yeah yeah um bwin2424 hey thank you for commenting hey we love you too speaking of freaks we've got a shout out and of course uh the shout out wanted to be a timely one uh last week this freak guy it's not on our fault he sent it while we were live and uh i didn't didn't make it to my to my desk um here it goes hello gentlemen glad to see car on the team matt marty thanks for cultivating

this community and sharing your knowledge. I write you from my hometown of Jackson, Mississippi, where we have struggled to get past Grant and Sherman burning our benevolent city to the ground not once but twice during the War of Southern Independence in the year of our Lord 1863. In modern times, Mississippi is the nation's biggest welfare state, most obese state, least literate state, and has the most babies born out of wedlock. However, I believe Mississippians are a resilient, anti-fragile people and we stand ready for this peaceful monetary revolution. This brings

me to the main point. Our first Jackson, Mississippi Bitcoin meetup is next Thursday, November 18th. This is the last night. That was yesterday. At 5.15 at District Sliders in Brew in historic Bellhaven. This is the second time we've done this shit, Marty. Well, no. This is their fault and they admitted it on Twitter today.

You can find the tweet. There's tweet receipts. Find us on the meetup app at JXN MISS, M-I-S-S, Bitcoiners. and join us thursday november 18th at 5 15 at district sliders and brew and historic bellhaven soli deo gloria mississippi none of the matters mississippi matt soli deo gloria the sun i mean you're literally reading something that is outdated now i know but i'm trying to get this latin phrase soli deo gloria

show it to car maybe car can read the soli dia gloria as latin or something to the glory of god cheers Jackson Mississippi freaks

glory to god alone we owe you a shout out specifically this wasn't your fault marty this was their fault they made it on twitter today marty didn't take personal responsibility for the nicotine gate so i don't know well this is here we have receipts we recorded last week at 2 p.m central uh we started recording uh this transaction uh was accepted on 325 so we're an

hour and a half was it on chain it was was it on chain i mean but we were supposed to be live yesterday it was live yes if we were live yesterday at like 3 p.m yes then we would have we would have been out in time yeah but anyway jackson freaks we appreciate you i love that you guys are starting a meetup over there let us know uh through i don't check my dms anymore they're completely overrun through keybase or telegram uh or threema you go to mattadel.com all those contact information there i'm happy to we'll give you a free show before your next one check it out freaks last shout out second shout out of the week only two this week and this one's this one got me pretty bummed out but i'm happy that the freak wrote in so we can all learn a

lesson here uh what the heck my wife just she just sent a shout out and to let you know she just sent me a picture to say i look terrible um this weekend i got scammed out of bitcoin while highly intoxicated and again the next day someone joined our bitcoin meetup chat room and impersonated one of the people i know and trust in dms drunk me didn't think twice that it was possible that's the person was not who i thought it was happy to help with the short-term liquidity needed the next day i didn't feel the need to check my assumptions and they convinced me to buy mining hardware that they could host for me in texas this is not easy to write i never thought i'd be foolish enough to fall for something like this i've always scoffed at elementary phishing attacks thrown my way i

hope these sats didn't die in vain and this message might at least help one freak out there i look forward to hearing marty say beware free etc the shout out to my attacker see this is i love this show to my attacker you're beautiful and you are loved this troubled world needs your talents for good um beware freaks there's scammers everywhere they're trying to get your coin and always if you are if you are going to help somebody out with uh some liquidity bitcoin liquidity at least do like a video chat with them be like do you really need this pretty much all of us have been scammed at some point or another so don't beat yourself up too much freak but uh all you other freaks like you really need to be aware out there like there's like a million people impersonating me and marty

um they'll message you they'll ask you how your trades go they're getting better they are getting better there are some that are very smart about it yeah how's your trade going is the best open one and you need you need to just be very careful because like everyone wants your bitcoin and they're just gonna fuck around with you um so be a little bit paranoid and you know cover your six um i would he didn't sign that right we don't know who that was yeah it was an anon freak but i appreciate you free for sharing that story i mean uh like i said we've all been scammed at some point or another i've been scammed many times uh and that's how you learn it's an expensive learning experience i have something that's not a shout out but i saw it on

twitter and i just wanted to uh shout out to lc hodl and his grandma his grandma passed away of a blood vessel burst I believe and she seemed like a legendary lady so shout out to her and cheers to Elsie Hoddle condolences Elsie Hoddle I'm sorry to hear that call your grandmother

because they're still around call your grandparents that's a reminder to myself too grandmom if you're listening I hear you call yeah respect your elders and cherish your time with them

life is short really to its fullest condolences I'll see how it'll take a sip on to software software updates BT space server version 1.3.5 has been released

go check this out LND version 0.14.0 beta has been released I believe that patches the temporary patch for the neutrino bug that they discovered with Taproot, I believe. No idea.

Yeah, apparently like Taproot scripts bore neutrino on the Lightning Network and they're scrambling to fix it. Beware of that. I was spoken about it at BitDevs last night as well. Mercury Wallet version 0.4.51 has been released. Simple Bitcoin Wallet

version 2.4. We gotta get Tom back on the pod. Tom, if you're listening, come on back. No, he DM'd us. Remember? We gotta make that happen. yeah we do um simple bitcoin wallet version i'm gonna be there for that 2.4 can i get through these can i get through these we're gonna have time on the podcast it used to be that when when you came up with a software update that i had commentary on i was supposed to commentary on it so that was my commentary okay we're gonna have time on you're

gonna be part of it tom i would i would love to do that that'd be a great conversation and mercury is pretty cool have you played with it yet not yet it's pretty cool you should play with it Speaking about playing with stuff, I played with the embassy this week. Obviously I had Matt Hill on. I didn't know where you were going with that. You broke his porn embargo. I don't play with myself anymore, freaks. I retain. I retain. I do not release.

I highly recommend you do it. It'll get your mind right. It'll get your T up. You'll be able to lift heavier weights. And you'll be thinking like a savage. I highly recommend the retention of your semen, gentlemen. Stop watching porn. Simple Bitcoin Wallet version 2.4.18 has been released.

Immortan version 0.5.6 has been released. Fully Noted version 0.2.30 has been released. Umbrell version 0.4.8 has been released. Hexawallet version 2.0.2 has been released. And Ledger Live Desktop version 2.35.1 has been released. and i believe uh ledger wild is already taproot pay to taproot script compatible as well is that correct i thought i saw i think so i think i saw a tweet about that yeah yeah that's surprising they do have a really good engineering team i mean they support like 1200 shit coins

yeah that's a shame they don't even have like proper multi-sig support no yeah you get a it was one thing like the unchained guys when they were making caravan and they had to work specifically with Ledger to have this retention member. There we go. There we go, Ty. Yeah, with the Caravan, they had to work closely with Ledger

because Ledger devices would throw this weird, scary warning when you were setting up a multi-signature Caravan. Focus on the Bitcoin stuff, Ledger. Prioritize it, at least. Maybe if you're not going to focus on it, prioritize it, please. More squirrels than liquid transaction per block. This is true.

Squirrels are big here too. I think the squirrels are on a retention plan as well. They got huge nuts down here in Texas. I don't know what's going on. But they're very particular with their nuts in more than one way, I would say. Galoy, down on the list. Bitcoin banking for communities.

Lessons learned from Elzonte. I haven't read this. Have you? I read the first couple of sentences. They got distracted. and to god uh they're learning a lot of lessons down in el salvador obviously so i've heard good things about this piece yeah i need to read it i have not read it but it was important to shout it out so that's why it's on the list yeah yeah we got a lot of nut jokes going on right now hiding nuts until december is very low time preference this is very true

it's very low time preference retention is low time preference uh in many more ways than one um yeah so this this beloy blog post goes into the lessons they're learning uh in el salvador and uh again like i i've spoken with the ibex mercado guys who have been part of that rollout i've spoken with they're great bitcoin beach guys uh also great they're really testing the limits down there it's really cool to see the the edge cases that are coming to light based off the i mean they straight up just move fast and broke a lot of things yeah yeah which is like hey again like we were saying with uh the on-chain protocol stuff and similar to lightning we're gonna we're gonna test these limits we're gonna see how it works and and architect around that well it's

nice because on lightning you can actually iterate pretty fast and you can break things and not have like catastrophic failure right but on chain we need to be as conservative as possible with the actual protocol so it's a nice balance that looks like some intense yoga there it's a good trap workout where we

had here last but not least reason had a mini doc on the environmental impact of Bitcoin is a great little six minute cryptocurrencies like Bitcoin are terrible for the environment it's an extremely inefficient way of

conducting transactions It's a way to both hide dirty money and destroy the environment at the same time. The environmental attacks on Bitcoin are best understood as a strategy by economic media. We don't have to listen to the whole thing. We're not going to listen to six minutes of it, but I appreciate it. Should we? What are the reason guys appreciate that? No, but Alex Gladstein, Nick Carter.

If you want to go watch it, go watch it. Our boy Nick is like in full Miami garb. Yeah. Like fully embraced Miami. Did he join the Buggaloos? Is that what's going on here? i mean i think there's like a lot of overlap in the clothing styles of the buglews and uh the miami and miami yeah yeah he's just he's just in full miami vibes right now

yeah i mean i think we should and we've done this before but i i never mind doing it again shout out to the reason team they've been putting out incredible content as a bitcoin for years shout out to Jim Epstein Nick Jalepsi Gillespie Gillespie and the whole team over there hey buddy

I'll be in in a second no screeching over there you just got back from the playground it looked like it was a good rip he does not want to go inside having fun hey

have children freaks I highly recommend it it's a beautiful thing that was it for the list what are we riffing on Nick looks like Conor McGregor and I never

have seen that look-alike connection there. I did not see the Conor McGregor thing, but okay. I respect it. I mean, I think it's been a big week. I mean, we got Taproot.

That's massive. I mean, it beat my expectations. I did not think we were going to get it so quickly. Should we do our one million? we have thanksgiving coming up next week which is like one of my favorite holidays it's a very family-focused holiday with lots of good food and football yeah it's sneaking up on me i can't believe thanksgiving already it's a good american holiday it really is um should we donate our million sats to the hrf live on air we already donated it well i didn't donate mine

yet so i gotta do that oh well you still oh i paid uh car i have tweet receipts car can look it up i'm not gonna make car look them up but no but if you can pull up an hrf donate page i will donate a million sats on there i think i pulled up um while we're while we're discussing that uh yeah it's uh it is it's been an exciting week uh it's interesting uh the the price dumped why and we don't like to talk price talk too much here what do you think oh yeah it's another thing that like we didn't touch on but maybe we should like the sec aren't they sending letters out to funds like d d divest from any is that confirmed or was that just the selkis tweet that you're citing selkis was going uh going nuts usd go to btc if they allow you to donate a million

sets i mean technically marty you don't have to donate anything 100 bitcoin oh shit i was the one who lost a bet i thought i just pressured you into you know what you have to do you have to you have to arrow over it yeah there you go 0.01 when sats hrf when sats all right quick freak someone else pay it quicker no don't do that somebody's gonna do it somebody's gonna beat me in my face uh probably because i have a stogie in my face that is like somebody's gonna fucking beat me to it. Yeah, Holden McHolden face

like, yeah, that's the joke. We talk about price all the fucking time. Is it Hodel or Hoddle? I think it's Hoddle. Did I just pronounce it Hodel? Ah, fuck.

i did not uh pick my fee right all right boom evidence how much would you paid it on chain yeah how much fees did you pay like 120 sats per byte or some shit let's see um nope eta i think it I paid $2,366 fuck I overpaid fuck anything over one saprobite is

overpaid alright live on air HRF I won the bet but still donating well technically we both won the bet no no I won the bet I know but like I got taproot

yeah i'm happy to pay a million stats for taproot yeah but i won the timing of the bet okay but it was a win-win bet for me i either got taproot or a million sets speaking of bets i know you haven't been around in a while but marad you still owe us dinner marad owes me such an expensive dinner at this point you owe us dinner marad if you're listening I miss you. Yo, it was a steak dinner. Yo, it was a steak dinner. There was also one bet on the table

for like a trip to Tahiti that I was like, yeah, we're not doing that. Do you remember that? Yeah, I do remember that. You would have lost that bet too. I wouldn't have been able to. Traveling to Tahiti with a family sounds terrible. Not if someone else pays for it.

Yeah, you'd have to pay for a private escort there. we're back at 58k back at 58k yeah I mean I mean dedicated freaks if they if they want to go back

like you go back and you listen like there is maybe eight or nine episodes where like I argue with Murata about staying humble and stacking

SaaS versus trading like that's some classic fucking discussion right there no comment um the uh what was I gonna say

I just had something up here to to pull up slip my mind oh jordan peterson his interview was safe very good all right car pull up the mining uh yeah here i'll i'll dump this in our group chat car uh yeah we should listen to that but i mean it's so beautiful too shout out shout out to car our producer for his second rabbit hole recap appreciate you car thank you car put in a shift on tuesday too uh your car stay high to the freaks

we know you have a mic over there what's up guys there he is Tiki yo dude I went on meme factory yesterday and they made me do a Tiki really?

the first one I ever did how was that? they do the ad read to support their show like the guest has to read the ad read and my ad read it it had a Tiki that was a very good one

like the light the light low key was it was fun I love those dudes yeah what was this uh safe safe does a great job

of orange pilling people can we make this big because I want them to see a Jordan Peterson's face car saying no you can't make this the whole thing can you full screen

in the browser or no it's not feasible he's got uh he's got like these limitations he's got reasons we're going to get through the limitations all right we're iterating here matt okay let's let's iterate last week we didn't have sound this week we have sound next week we'll have full screen okay the week before that we didn't have internet we did it point you just need an internet connection you take the bitcoin miners to where that energy is and then you can monetize that energy and turn it into bitcoin

it's magic so what's the what's the net effect of that on the price of electricity worldwide is that is that is that deflationary with regards to electricity cost i think so i think this is this is a point that i make in the fiat standard which is that you know we've had fiat subsidize all these dysfunctional forms of energy over the last 50 years that have led to the grid becoming unreliable and we have bitcoin like the vigilante savior that it is coming in and providing a global subsidy for anybody who can make electricity at a cheap rate to monetize that. Well, not only at a global subsidy, but it's so interesting

because not only you could go to where the energy is cheap with virtual certainty that you're going to make more and more money as the value of the Bitcoin increases by investing there, assuming you assume that the value of Bitcoin is going to continually increase, which is a logical presupposition if it's if it's as stable as as is claimed and it's finite in the way that you're describing and increasingly widely accepted by vast numbers of people it's also an investment it's like multiple times over time rather than decrease so take some of the uncertainty out of investing in like nice smiling cheap electricity generating processes

that are geographically isolated. I just can't believe that's true. It's amazing. I think I must be misunderstanding because it seems to remove the value of the electricity magically without any of the problems of transportation. Yes, exactly. Wow, that's really something.

That idea that you can monetize energy production in areas that wouldn't be able to ship the electricity to market, That's absolutely mind-boggling. It'll take me like five years to think that through. And it seems to completely contradict the idea that Bitcoin is a waste of the world's resources, right? It's a complete opposite if this monetization idea is actually true.

It is true and it's beautiful, freaks. Bitcoin is going to usher in an energy renaissance. We're going to be as energy efficient as possible. And seeing somebody like Jordan Peterson realize that in real time is like... Like on air is so fucking cool. Shout out to Safe for leading them to this aha moment. Well, it was like DerGigi and Co. got on first, right?

Yeah. And I guess they did a decent job, but they obviously failed a little bit if this was still happening. Yeah. But they set it in motion. Yeah. Yeah.

This is good. It's good to have people like this on our side. We need to win the minds, freaks. We need to win the minds. We have people like Hillary Clinton. She's trying to add Bitcoin to her kill list. We need to get out there and get to the mines before these people do. Well, it doesn't matter.

Bitcoin is literally mine. It's going to succeed. That was another thing we should have called out. It's literally mine. What does that even mean? Yeah, what do you even mean, Hillary? Yeah, we're going to win the mines. We're going to win the mines, freaks, because we have the truth on our side.

That's what you have to remember. Bitcoin is objective truth. We have the truth on our side. The people that we're fighting do not. They are liars. they are creating instability they are stealing your purchasing power via inflation they are stealing your life force and they're making terrible decisions that are making us less energy secure less food secure and less secure from a monetary aspect they are projecting their

faults onto bitcoin do not let them hold up the mirror call out their hypocrisy we're going to win bitcoin's not dying it's not going anywhere they're going to try to kill it they're going to be unsuccessful uh but i would like to get in front of these narratives so we just don't have as bad of a low as they could potentially create this is why we have this show that's why we have the newsletter that's why mad at citadel dispatch that's why we're here freaks jacob's asking how marad's doing marad is doing well he got humbled by having his fun get absolutely blown up um but he's doing well and hopefully he'll be back soon but he's uh he's taking the person

responsibility hit hard and he's he seems to be building back from that I won't say better but he's just building back I like that second meme I prefer that build back better than yeah he's building back better yeah I just didn't want

to say it they just pushed a build back better infrastructure build like these world economic foreign Davos class that's what I tried to avoid it's literally it's out in the open go listen to the Whitney Webb episode they don't want to build back better

they want to build back a prison that you get pushed into don't let them buy Bitcoin, build Bitcoin use Bitcoin educate people about Bitcoin before we wrap this up next week is Thanksgiving

oh shit what are we going to do we have to coordinate with Carr too Carr are you in town are you traveling for Thanksgiving no I'm staying local I'll be local I can do Wednesday can you guys do Wednesday you do Wednesday as well

yeah I can do Wednesday so we'll do Wednesday for Rabbit Hole next week should I dress up like a turkey yeah Marty's going to dress up like a turkey you already did first I'm not going to go the other way I'm not going to dress up like a native you already promised you're going to be a turkey

okay I'll be a turkey it'll be funny if anybody has good turkey costumes they want to send me especially if you're in Austin hit him up fuck am I going to be wearing a turkey costume on Wednesday maybe tune in to find out freaks thank you for tuning

in this week we love your support thanks for the shout outs thanks for the interaction in the live chat we're going to blow this up we're two weeks into a producer this is only the beginning okay we're going to inject everything with sats car remind me to put your

lightning network public address into the sats splits we're sats splitting officially, we've got it going on perfectly. Carr is going to get sats. DJ, our developer, is going to get sats. Matt and I are getting sats, and the apps supporting the podcast

and 2.0 ecosystem are getting sats as well. This is the value-for-value model that Adam Curry is bringing to the world of content distribution. That's a beautiful thing. Stay humble, StackSats. Peace and love, freaks. Okay!