TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Week of 2020.04.20

Episode Date: April 23, 2020

Join Marty and Matt as they discuss: - Unchained Capital caravan update inbound - mynode v0.2.03 - SLP Chris Belcher - Upcoming eps with Amiti and Openoms - YouTube taking down any content not in line with WHO - Should we reopen the economy? - much more Shoutout to this week's sponsors. Cash App. Start #stackingsats today. Use the promo code: "stackingsats" to receive $10 and contribute $10 to OWLS Lacrosse you download the app. Unchained Capital. Head over to www.unchained-capital.com/vaults and check out their 2-of-3 multisig vaults.

What is up, freaks? It's your boy Marty Bent here to introduce this episode of Rabbit Hole Recap. Matt and I just had a very high-qual rip. Very excited for you guys to listen to it. Had a banana daiquiri delivered to me around 52 minutes in, so extended the episode a little bit above an hour. I hope you guys enjoy it. you'll hear about it in the episode but i also need to mention it here this episode is brought to you by our good friends unchained capital who have a security first mindset when it comes to bitcoin financial services uh matt and i actually hopped on a demo call with the unchained team today so that they could walk us through uh their newest update of caravan which should be pushed live next week they're making huge advances in the space freaks particularly around multi-sig caravan if you guys don't know already is their open source desktop app for multi-sig quorums if you want to create a multi-sig without a third party and you just

want to do it between yourself and parties that you know intimately caravan is there to help you out and caravan caravan excuse me is about to take a step up instead of creating multi-sigs with single addresses, they're going to allow you to start dumping XPUBs into Caravan so that you can create multi-sigs with multiple addresses in the same XPUB. Really, really sleek design. Again, Matt and I walked through it earlier this afternoon. I'm very excited for it to hit the market and for people to start playing around with it and for the open source community to start maybe standardizing a few of the things that they're doing because I think what they're doing is very very exciting and top class top class on top of the multi-sig stuff if obviously caravan

is a software that unchained uses in its own products specifically its vault product if you want to enter in a multi-sig quorum where unchained will be there to sign a transaction if you want them to they can be one key in a two or three setup you can always move your utxos out of the vault by yourself. But if you're ever in a pinch, you don't have access to both of your hardware wallets, Unchained is there to be the second key in the two or three or M of M, whatever that threshold is for you. On top of that, they have their loan program. You can use Bitcoin as collateral to get US dollar liquidity, same day US dollar liquidity specifically. You put Bitcoin up as collateral, you get US dollars in your bank account. Friends don't let friends

sell Bitcoin. And as we mentioned, Caravan's an open source tool that they're working on. They're working on other open source tools like Hermit, Slip39, and then they've got their blog series, which has Dhruv, Phil Geiger, Joe Kelly, and Parker Lewis putting out some incredible content. Parker's Gradually Then Suddenly is some incredible evergreen content that I send to anybody who's like, hey, I'm looking to learn about Bitcoin. Where should I get to? Boom, go to gradually then suddenly first and to find gradually then suddenly in all these products and open source tools that i just described go to www.unchained-capital.com that's www.unchained-capital.com this episode is also brought to you by our good friends at the cash app you freaks already know

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lacrosse owls lacrosse use the code stacking sats download the cash app today and enjoy this episode long rip i think you guys are gonna like it daiquiri fueled ad read i hope you guys like That one, too. Cheers. 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 here for another edition of rabbit hole recap it's been a long week matt i'm tired man i've been i've been inordinately tired lately uh i think it's the the just the restlessness of of everything that's going on just like constant i feel like i'm constantly on alert you know yeah i know i know we uh we are in the the transition of trying to get our our son to sleep uh throughout the night and it's led to some early mornings for me i had a 4 30 to 6 a.m shift this morning pretty groggy right now

I've been waking up at like 6.30 every day like a productive beast, just trying to keep my schedule. But I feel for you. I'm glad I don't have that on my plate right now. Yeah, I've been waking up early too. One thing I have been doing more and better of this week particularly is taking showers the moment I wake up. I was slacking there for a couple weeks of quarantine,

just uh waking up and not showering right away and letting that uh bleed into the late afternoon yeah shower cracks you into into mode at least it does for me no it really does it really does um it's uh it's important it's it's important to stay clean showers are important hygiene's important um we got some shout outs we'll start with some shout outs today just a riff we don't have a long list at all um pretty short actually yeah it's gonna be a short and sweet app for you freaks who knows maybe we'll drift into other things we have plenty i actually missed a shout out last week uh monday um because um uh ptc pay's latest upgrade is sort of mixed mixed up their messed up their uh invoicing sort of a flow um and then it's messed up in the

um in the excel sheet the csv file they provide as well so some of those shout out the shout out that i missed on monday was at the bottom of the excel sheet i did not know to look for it until yesterday so we're gonna get to that that uh shout out particularly was for you matt thank you for Creating a graphene flash boot tutorial that even a tech buffoon like me could understand. Keep up the good work. Love, Matt underscore S. Fuck yes. Another Matt.

I dig the name too. I'm glad you got graphene up and running. It's more important now than ever before. Yeah, I was made aware of a graphene. What's the other? Wood? Get into it. Copperhead?

Copperhead. that's what it is not wood dude i didn't know there was a we were having beef in the end we have we're having a conversation about how i always get dragged into all this different fucking drama and i told you about the latest piece of drama i'm trying to avoid and you just bring it right up on the pod you know what we don't have a lot to talk about today uh we gotta we gotta create some drama you know nah i never want to be a drama creator just create drama but i think you always do get dragged in the middle i think you handle it very well Thank you. I try to handle drama as best as possible whenever I come across it.

You know, with this, I'm still trying to get my bearings. It's kind of caught me off guard. But the short and sweet is that it was all the same project. um and it appears the copperhead guys wanted to go a more commercial route um and dan daniel mckay who is the lead at graphene wanted to go the more open source route um non-commercial flash it yourself with copperhead you like buy it from a partner um they like have corporate contracts and stuff where corporations like buy a bunch of phones from them and it comes with like professional support uh what with graphene you know you just flash it um like an end user does

the code is out there so there's all these legal legal disputes that are happening they're former business partners um so i don't want to comment too much here um i just present you a little bit for bringing it up and we will see as i look into it more i will report back but i have been loving using graphene which from my understanding is basically if you're running copperhead you're running graphene it's like 99 the same so i have not run copperhead yet um i i have spoke to that the lead at copperhead and he seems very seems like a good dude so we'll see but uh so i might be able to get my hands on on on that os and i'll play around with that as well yeah sorry for bringing up freaking bringing

that up you know we got we got extended a little bit like we got a nice minute out of that thanks for that minute you just freaking threw me right under the bus with that one actually one of these shout outs is it's got to spark uh an interesting conversation i think um the next shout out is bitcoin is an unstoppable machine that is designed to run in perpetuity based on free market incentives watching governments and its citizens react to it is going to be the most interesting show on earth watch the ratings viewers increase as people come to this realization uh ff2k our good friend farface2000 love you farface i love you too farface my my favorite name on uh on twitter and sorry if like my reading of this is staggered it's like

in an excel format and some like some of the characters get get all mixed up when they want to translate to excel from uh from our shout out page and here's the last shout out uh it's not but a shout out to question when will tether flip and ripple hmm will it happen when will it happen that's such a ridiculous shout out is that anonymous yep it's anonymous yeah i guess i appreciate you freak but i'm glad you left it off so i didn't think any less of you uh it doesn't really matter it's it's apples and oranges one's an illiquid shit coin and the other is a trusted third party regulation breaking stable coin yeah what are the market i don't even know where they're at they're even close to each other right now i was like about

to i was about to check coin market cap and that's why i instead i got angry at the freak who submitted it do you think it was intentionally designed to trigger us uh oh they're they're kind of close tether's at 6.2 bill and xrp is at 8.5 i can see it happening sooner rather than later stable coin growth has been pretty pretty robust in the last few months right yeah around 9 billion all in ripples an illiquid shit coin that doesn't fucking die so you know well that brings up another point you see that we don't have this on the well not that we would in a regular episode but now the ripple's on top of mind you see they're going to uh sue people on youtube for um like false advertising or something like like scams and shit right

i don't i mean which is ironic it's ironic yeah out of scams going after scams i mean already too much ripple better off for a single episode it's true this is true i'm gonna go with tether is going to flip in ripple in the next five weeks and then ripple will overtake tether again over the next three months after that and those are just completely arbitrary but i i felt like giving you an answer i don't know never doubt never doubt ripple's ability to fucking pump for no fucking reason whatsoever like fuck that shit that was like the most infuriating fucking shit coin besides one thing it's taking consideration what one thing is taking consideration is uh what's his fucking name the x or not xrp the uh

uh he's owned mount gox originally um he's stellar jed mccaleb jed mccaleb he that clause hit where he can sell more than he was previously able to so he's able to liquidate what like i think like 50 million worth of ripple a month or something like that i don't know the exact which is that should tell you that should tell you exactly why ripples a shit coin like he has a contract which stipulates when he can and cannot sell x amount of ripple and beyond that ripple Ripple Labs auto-dumps Ripple every month themselves, too. We're the first 36,000 blocks, Ripple fans. Too much Ripple conversation.

All right. Life is short. This is a waste of time. It's a good opportunity to remind folks not to fall for unit bias. I mean, you shouldn't be falling for anything outside of Bitcoin at this point if you've been listening to this podcast. but if you're out there and you're like still like oh my god but it's cheap it's unit bias you can fall for unit bias sats are cheaper than ripples this is true this is very true

if you're gonna fall for unit bias do it properly all right we're gonna transition this into something dope that we were just demoed a couple hours ago uh disclaimer sponsor the show game changer sponsor show game changer uh so unchained uh capital is coming out with a new version of caravan an updated version of caravan and instead of um only allowing caravan users to upload and create single address multi-sig quorums they're going to allow you to dump xpubs into multisig quorums so now you can get HD wallets and you can

create a multisig quorum and then use multiple addresses so you're not just sending UTXOs to the same one address it's pretty big it used to be a pain in the ass well it still is a pain in the ass

to use multiple addresses with caravan caravan is super easy with multisig otherwise and there's a new update that's coming up switches that and it makes it super easy to to use multiple addresses and you know in the same wallet um and the interface is really slick straightforward um it's still the same thing where you have the choice of your own node or the block stream.info api uh it just looks really great i think you freaks are gonna dig it we're all open source yeah no this is uh and that's one

thing one cool little feature that's going to come with it too is the ability to test a number of things before you even put money or utxs into a multi-sig quorum so you're going to be able to use your hardware wallets to make sure they're going to function the way in which you expect them to function when you start sending utxs and checking redeem scripts and stuff like that uh and like through the conversation became apparent like they're trying to create i think drew said this um standards both vertically and horizontally so other hardware uh manufacturers can sort of use the test suites that they've set up to test their stuff before they push new updates to make sure they won't break anything because that's one thing

that was in the air with trezor's last update is they pushed something and it broke something in the hwi specs or not in the hwi specs but it made some hwi setups incompatible integration yeah um you know this is basically the first step towards that holy grail um this is basically we're we're basically there the holy grail that we've been discussing this whole time which is Very easy to use, GUI-based, no command line, ability for a user to create a multi-sig wallet with different hardware from different manufacturers without a trusted third party. So they could already easily do it with Unchained's collaborative custody product and with CASA's multi-sig. But in both those cases, you have the trusted third party, either Unchained or Kasa, that knows your balances, knows your transactions. With this, you can go completely self-sovereign and they don't have any information on you.

You could either control all the keys, put them in different places, or you can have a friend do it. um you know when we did the video uh with keep it simple bitcoin and american hodl when we did their multi-sig when i did their multi-sig bet with them um we pasted the public key back and forth and their their public keys and then i pulled mine from the treasurer i was using um so this is going to also i think cold card support's coming soon they don't have it yet so right now it's treasurer and ledger um but that idea that you can just copy and text of the other person's public key is really it's just a very convenient flow i think because you can have someone i could have a buddy that's in san francisco and he could just signal me the his

pub key and i could signal him the three other pub keys and then we never actually have to bring the hardware to the same place you know you can you can do it all through like an encrypted side channel you know the encrypted message in this case signal yeah it's uh shout out to unchained i mean it was it's really like matt said the design is really sleek it's really straightforward you have the ability to set up watch uh addresses um again like matt's full coin control full node full coin control which is important and that one thing we learned actually too is that labeling multi-sig throws a throws a wrench in things because uh everybody's could label certain uh certain utxos differently across the multi-sig quorum yeah basically unless you have yeah

labels should be user specific marty if me and marty were sharing the tales from the crypt multi-sig we might be labeling things differently i might label it dipshit he might label it american hodl like it doesn't it depends on on who's who's labeling the transaction was that a Freudian slip there yeah no it was an intentional dig it was an intentional dig you should have just kept going with the flow

so be on the lookout for that they're hoping to get it pushed live next week they're doing some QA right now be on the lookout for it again things are getting easier things are getting better anybody's telling you that Bitcoiners don't innovate

that bitcoin's not getting any better is is clueless at this point yeah i think this is like it's a really big deal not to oversell it or overhype it i mean look i thought caravan was a big deal with the mass already but with the massive caveat that it was really hard not to reuse addresses which is like that is a very big caveat um but yeah this is it's so much easier than electrum electrum is you can do this stuff with electrum right now but it's just a pain in the ass in my opinion it's got it's got too many there's too many moving pieces and it's easier to run electrum server now than it ever was before but just that alone you know makes it that's one thing i'm happy will cole said too when we were doing the uh the demo was that their mindset with

caravan is to add as little as neat as as is needed to not confuse the user with too many functionalities and then you sort of increase the uh the ability for a user to mess something up so the design uh the design focus on caravan is all right what can we add what's the minimum amount of features that we can add that would would not deprecate the overall experience and i think uh they've done a great job of that going from single sig or excuse me single address and out to a full xpub key that you can dump in there and that's actually talking about following up on and listening to users that's when uh drew first walked me through caravan i think a year and a half ago that was like my big question was why can't i just dump an xpub in here um and they've

made that possible yeah the other thing to mention here is is you know multi-sig is a little bit more complicated than it's got more moving parts than single sig and you have to keep copies of your pub keys and you have to keep your redeem script and you have to know your derivation paths so that adds an additional hurdle it's not like you're just writing down the seed somewhere and keeping that safe in this case I mean you should know the derivation path even if you do single sake but at least for all the big implementations they're relatively known uh well what is rodolfo site wallets recovery is it wallets recovery.org yes i believe so it's something wallet recovery

or wallets recovery let me check um marty while marty's checking that they what they decided to do is is they basically give you a json config file and that json file when you boot it up uh the actual application stateless but it keeps all that necessary information so it keeps it keeps the pub keys it keeps the redeem script and all the derivation paths uh so you can just back up that json file yeah it's wallets recovery.org there you go plural so that shows that that website shows all the common derivation paths for the big wallets yeah and again like i said with the testing and other um and i've said in the past i mean that's the the whole reason that wallets recovery.org exists too is just to try to help create better standards around this

stuff um multi-sig bit 32 psbt um it's it's sort of been wild west for the first 11 years and now you slowly have people within the industry collaborating and coalescing around standards and the libraries that Unchained made for Caravan are going to be open source, obviously, always have been. And that's one thing Drew actually also said on the call that he's very excited to see is that they're having outside contributors begin contributing to Caravan outside the Unchained team. So he's happy to get this pushed live

so that more people can start contributing to that code base as well. speaking of code bases our good friends at MyNode have the newest version version 0.2.03 I'm on the github page here and it's just got the new version

I have the changelog they added remote support for Tor v2 and v3 and then the big one was they enabled an option to they added an option to enable key send so you can just if you enable that then people can send you payments you can send them payments if they have it enabled with just their pub key you don't

need an invoice as we discussed earlier our last last episode you need that to use a service like juggernaut the messaging service the messaging project it's not really a service because it goes through lightning um and everything is local and encrypted um by john cantrell juggernaut so that's good to see and also dojo it says dojo uses electrum server now but i thought it did in the last release so i'm not positive about that but either way it it definitely uses the Electrum server now instead of using just straight Bitcoin D which is better

hell yeah and last but not least on the Bitcoin stuff so again we went over a lot on Monday we had a good recording with OpenOMS who's an incredible Bitcoiner this afternoon earlier this afternoon Matt sat down with him make sure you look out

for that next week but he was mentioning Stephan Laverre the big topic on that episode was join market cap and stefan lavera sat down with chris belcher from join market cap join why am i saying join market cap join market join market cap just such a perversion join market cap crypto uh join market cap crypto um every episode with chris belcher is a must listen so i haven't listened to this one yet but i'm excited to listen to it open arms was great uh we also sat down with the meaty uh and she was fantastic she just gives me she inspired me so much so i think

people really like that one too um now both of them inspire me man because and it's like again talking about people hating on bitcoin somebody's making a margarita downstairs i'm sorry if you freaks can hear that i don't know what's going on here is that in your home or is that a neighbor that's in my home fuck yes i support it i support i think the freaks are on board um it's uh again makes me very bullish to see people like a media and open arms who have basically been contributing code to either bitcoin core which media is doing or apps being built and leveraging bitcoin which is what open arms has been doing i think open arms been doing a little bit longer than a media but still both relatively new and since the the

last bull run and they're contributing very considerably i mean uh media is working at the p2p network bitcoin core project right now is rebroadcasting and trying to work out some privacy kinks that currently exist in the when you try to rebroadcast a transaction she's trying to make it so the user doesn't have to initiate that and a node will just recognize that a transaction may need to be rebroadcast and it'll do it automatically so you don't have to sort of docs where you're where you're sending that from again and then open arms is just working on dope hardware and software particularly i mean uh at least from what i glean focused on privacy for bitcoiners they're both young they're both enthusiastic they both love bitcoin fuck yes

i fucking love it my only complaint is god damn i just want to do these fucking things in person i'm i'm done with you know the zoomification of social interaction where just everything is second done over zoom they're putting us in the pods matt they're putting us in the goddamn pods but uh there was one other thing i want to say oh yeah and i mean you've just been i don't really feel bad that this is a short one because we had rhr monday and then you've just been pumping them out you had you had epsilon theory you had ben hunt on you had Zuby on um I haven't listened to Zuby yet I listened to the Ben Hunt one feels like he bent the knee a little bit so I appreciate that he's coming around he's coming around yeah he's coming

around yeah we got to set him up with a bitcoin wallet like you said at the end um so yeah he was he was he was definitely less abrasive about it this time so I think it was a short but sweet episode zuby episode is really good too um that was one of my favorite conversations today just because it was a good break away from bitcoin we talked a little bit about bitcoin um we're just talking about like how people let others they do not know or have not ever met get under their skin and dictate their happiness and i think the the underlying message of the zuby episode is you are in control of your own success and your own happiness. And if you let other people dictate that, then you were living life in a bad way. And then we talked about health as well. We talked

about Bitcoin as well. And Zuby's actually not as bullish on Bitcoin as we are. He seems to believe that Bitcoin has an upside limit to how much it can take over the world. And I think he sort of he didn't say it outright but uh agree agrees with what i think bitcoin's biggest hurdle would be in the future which is apathy but i've been becoming less concerned about apathy because i think the the market forces are going to basically force bitcoin on the world whether they like it or not zuby bitcoin is designed to pump forever get it you made good points like how that's one thing we have to consider like how i mean we talk about it we do talk about every once in a while but like how big of a bubble are we in can we really expect the masses to learn about

bitcoin and adopt it or do we even need them number two um so can they learn number one do we need them to learn for bitcoin to be as successful as we think it will be uh the masses the masses have no idea how regular money works they have no idea how the internet works they know no idea how email works they have no idea how their phone works they have no idea how cars work they have no idea how planes work like what it's that's a ridiculous standard to hold bitcoin to people will have varying understandings of bitcoin but pretty much everyone will be either using it or using some kind of derivative of it i agree i agree but it's always good to hear those dissenting views where it's like, eh.

I haven't even listened to the episode, but I wholeheartedly disagree with him. I mean, he's a very interesting dude. I was happy to have a conversation with him. He's a Bitcoiner though, right? He owns Bitcoin. Yeah, I mean, he's down for the cause. He just thinks it has some upside limit

because he doesn't... Burn him at the stake. He thinks people will... I mean, he thinks there'll be hundreds of thousands of dollars, I think he said. Don't quote me on that. Okay, well, I'm fine with that.

I'm cool. If that's the upper limit, cool, whatever. Yeah. And then I'm actually going on Block Digest tomorrow. I'm very excited for that. Oh, good luck. Yeah. You're going into the dragon's den.

Going in. Going into Shinobi's world. I'm very excited for that. If you freaks haven't listened to my episode when I went on, you should go give it a listen. That was a very good episode. Very, uh... You got dragged in.

you got dragged in like we were talking about the beginning of the episode i'm a sucker for the drama i just try i try and keep myself as objective as possible for you freaks uh and i appreciate you when you put me in my place hey you that's the part of staying humble right um so you gotta keep it to yourself so dming shinobi we gotta get him on here it's gonna happen at some point in the near future it's long overdue um there was one other thing i wanted to say on the bitcoin stuff yeah i don't know just i i just i if bitcoin twitter right now feels like bear market bitcoin

twitter and i think it's like restlessness of the pandemic and like just general anxiety uh you know people don't have their jobs and stuff like that um people are losing loved ones so just you know just remember what's important like life's short don't fuck around like all this like bullshit twitter drama that just goes away after a couple days like is not worth your time it's just not something to get riled up about it's not something to get triggered about and you know in that case trigger being triggered is a sign of weakness so just be aware be aware be aware and it would be remiss of us if we did not uh go to clark moody's bitcoin dashboard people may be bearish on twitter but we had a bullish day a little pop

little pop today we're at seven thousand five hundred seventy dollars nice little round number there uh on clark's dashboard percentage of torque capacity within the lightning network has bumped up by 0.2% to 42.4%. There are 1,992 tour nodes on the network. We are currently 1,644 blocks away from the next retarget, which is scheduled to be on May 4th, and that's right now scheduled to be about a downward difficulty adjustment by 0.4%,

and the halving is in 2,652 blocks. We're getting closer. scheduled uh according to clark's dashboard on may 11th is it priced in yet matt they're having of course yeah the markets are completely efficient they're just able to price in this this completely immature asset in its adoption phase just perfectly that's why that's why you don't see much volatility in bitcoin oh that's actually something to mention uh ftx they came out with a bitcoin volatility index today that's a pretty big deal actually it's a big financial product for the bitcoin world

they also came out with an oil product did they yeah whenever they can make a cent they fucking do it man yeah i mean i wasn't expecting the bitcoin volatility index that's actually interesting though i think that's a good i mean who knows how much volume it has or will amass on that exchange particularly in near to medium term but uh having a volatility index for bitcoin is a unique derivative um that is a an interesting way to get exposure to bitcoin without owning it outright stay on the stack sets yes obviously but you could bet on volatility you could go either way the volatility would increase up or down yeah you can use it as like a hedge mechanism yeah um it's an interesting measure to watch just like the volatility index uh

but that doesn't you don't have to trade it to do that but yeah anyway uh on that note did you see tone vase is is charging three thousand dollars for his options trading class i saw i saw a meme about that i didn't actually see that he was doing that i wanted to announce did we get a hammer nine today my my trading strategy is going to outperform his options trading anything you can learn in that three thousand dollar class i can outperform that with two simple tricks it's going to cost you five thousand dollars and once you send it to me i'm i will send you a message back and i'll just say stay humble stack size that's it that's going to cost five thousand dollars yeah i mean or you i just i just told you what it was so you

don't have to send me the money but it's worth if his options trading class is worth three thousand that advice is worth at least five that that advice is worth a bitcoin yeah it freaks if you're listening out there and you're don't have a finance background and you particularly don't have a trading background and you think you're gonna waltz into the bitcoin markets and trade options profitably is it just bitcoin options i imagine in general i imagine it's bitcoin options you're not gonna you're not gonna fare well i think if you're like if you're the type of person to spend three thousand dollars on that course you're fucked there's no way i don't know i think even that one percent of traders that are good that that are able to make

money off of trading um aren't the same type of people that pay three thousand dollars for that course so obviously if you're thinking about doing it you probably shouldn't do it and then trading options i mean it's just infinitely harder than trading the spot price you get margin and future prices involved like it's lack of liquidity right now yeah just stay humble motherfucker just stay yeah just stacks i've actually i've increased my i don't care do what you want i've increased my stack stack god i always fucked this up my sat stacking to daily just as like a little experiment

and been very happy it's been cool to wake up, roll over rip a piss rip a piss stack some sats yeah 430 stack is an interesting one especially

when you're you got a screaming baby in your face the other thing is Evan Van Ness the the ETH influencer ETH 2.0 this summer he deleted his tweet that he said he's recommended putting all your life savings

into DeFi so what does that mean why'd you delete your tweet maybe it's save face after that one DeFi app got murked horrible fucking advice and it's not even DeFi it's just Fi

yeah there's admin keys there's i mean we've talked about this too and like the defi biggest use case right now is fucking stable coins and matt and i said it earlier today in a private conversation like or i said it to matt like the whole reason bitcoin was created was to replace what the stable coins are pegged to like yeah have fun with your stable coins toss them around to each other like that doesn't make any sense why you would like be pumping that as a as a killer use case of a technology that's meant to replace that i mean maybe i'm dumb maybe i'm dumb yeah maybe maybe you're just into it

was that a dig okay marty we're 35 minutes in we're out of bitcoin topics what do you want to talk about uh youtube ceo coming out i'm sorry freaks i've been a little angry in the bent recently um been getting a little aggressive in the bent maybe it's a combination of the quarantine the forced quarantines going stir crazy i'm in my father-in-law's bedroom recording this uh it's a nice bedroom it's my new office and it's like it's just weird that lays in bed with in the room while you record it's just strange yeah robert shut the hell up back there um but no yeah i mean so two things pissed me off this week particularly that i wrote about

i said i had very strong words one was the the harvard anti-homeschooling private summit that's going on this summer where some thought leaders within harvard's halls are trying to convince people that uh trying to convince the government i think is their goal that homeschooling should be outlawed for the safety of children and one of the dudes leading that um that summit and that conference whatever it is a closed door conference has said in the past that children are not uh or parents do not have control of their children children at the end of the day are assets of the state he basically said that in a roundabout way um so that that's weird to me like it seems like that's two different people right there was a harvard person and then who was the second person

that said assets of the state no they were both harvard oh and that dude who said assets of the state was a harvard law harvard law professor a woman right and then oh no that was a dude the woman wrote the article basically saying we should uh preemptively outlaw homeschooling because it puts children at danger at risk and what was funny is the uh the cartoon on of that article it was in like harvard review magazine or something like that it had a house that was made up of books on the side one of the books said arithmetic and it was spelled wrong like this like they spelled arithmetic it was intentionally right no no that's what they said it wasn't a dig at like if your home is homeschooled then you spell

arithmetic wrong that's what some people were saying in the comments but then if you go back and look at it they fixed it in the article oh what idiots they should have owned it they should have owned it and been like that was like a classy dig yeah uh not classy but just you know a creative dig yeah uh and then yeah the law professor came out as basically like children are assets of the state their parents at the end of the day do not control them uh or basically have ownership over them which i don't think i have ownership over my son but my son is my son you kind of do nothing don't you like legally have you like legally have ownership don't you i think the legal term would be guardianship yeah i mean he's not your property

you can't like yeah i'm not gonna like throw him into the coal mines and tell him start working weird weird thing to okay yeah he will be mowing lawns very early on what's the difference marty what's the difference it's a slippery slope the difference is the state does not have priority over the possession of my son then and i don't know yeah this is weird look i mean i don't think i don't think that you have to be a genius to see that they have you know obviously a ridiculous bias right it's like the non-homeschoolers saying not to homeschool right like of course uh of course they believe that right that's you know they work in that that's the profession they work they work in higher education at prestigious universities of course they want to

defend their well it's not even defending private and public education outside of homeschooling it's attacking homeschooling no yeah i'm not i'm not trying to diminish that no i i agree i what i'm trying to say is is i feel like this is more of a fuck off thing than a triggered thing like they're not going to be able to do anything about it like there's no way there's no way they're banning homeschooling or any you know not in america i agree but they want to do it yeah i mean people want it assholes want to do a lot of things it's like can they execute then you have to start worrying about it i mean they would if they could but they can't i don't think they can't you know i think there's no political will there i hope not i hope not they're trying to though

they have this uh closed door so i got pissed off of that that was tuesday what is it thursday yeah then yesterday i got pissed off uh youtube ceo uh coming out basically saying they're gonna censor and and remove any content regarding in relation to uh the coronavirus that is not in with what the world health organization is currently putting out there and i just it was even worse than that she was like that anything that is not true and we're using the who as our guideline so not only did she say they're using the who on the guideline she implicitly stated that everything the who says should be treated as fact right should be treated as the baseline which is even worse and see so this situation is a situation where i think it's completely

reasonable to get triggered because they can and are executing this strategy right now right like people people are getting censored based off of this this this plan and they have unilateral power right and i mean the real solution like everyone should be angry about this but the real solution is to move away from youtube right yeah but how do you do that are we going bit shoot we uh vimeo you know i'm not sure if like a decentralized option is really i mean feasible or necessary in this situation what we need is more competition uh among centralized providers right and then you you basically you end up syndicating your content across multiple centralized providers instead of just having one gatekeeper in youtube

uh it seems like at least for the near future that's basically the trade-off you have to make and i mean we saw uh btc sessions he got banned off of youtube for a little bit that looks like they restored it uh but now he's using street he's using software that broadcasts it on like six different platforms um including twitch uh and twitter and he's noticed and youtube still because he got restored um and he noticed that on twitter he gets way more views than if if it was on youtube and i i don't that doesn't surprise me we have great you know the bitcoin twitter community is is fucking super active but the question is uh motherfucker is going to get his twitter account banned at some point like we all are like that that that is something that everyone

should know is going to happen eventually uh so he's just putting more eggs in that basket it but it's good that he's also broadcasting it out to all these different things um because his users will know to be able to go and and look and and move around and i think it's just going to become a commonplace thing that as youtube censors more people will be more accustomed to not just check youtube yeah but john seth's written about this actually pretty pretty eloquently like it's hard to create a competitor to youtube these days just because of the pure uh hosting costs that come with video particularly yeah that's why hosting and that's why we can't self-host right we can self-host our podcast that's why i love podcast podcasting people don't appreciate

how censorship resistant podcasting is we can hit multiple platforms all through rss feeds we can self-host it we can give you a download file that has everything we've ever done that's a reasonable size to download but video streaming especially hd video and and live streaming is insane bandwidth hit and it's hard it's it's hard to compete with someone at scale of youtube uh yeah but you do it you do it i i think what we see happen is we see a move to like a patreon-esque system patreon-esque systems um some that have bitcoin integration hopefully and some that are just straight fiat rails uh that incorporate the whole video streaming into that thing right because like what patreon's pulling 10 we like talked about this in the past i think they pulled 10 from their

uh client clients i don't know uh creators the exact number off the top but they're pulling it from their creators right from the amount of money they raise so maybe there's maybe there's something there in that kind of model but yeah you know it's it's hard it's hard to compete with these centralized massive behemoth companies just whenever bandwidth comes into question yeah it's um but what does that say let's get back to like what's actually happening that susan would shake you whatever name is is saying that they're going to remove content that isn't truth number one who is to determine the truth and isn't in line with the world health organization like let's go through what the world we've done it we did with alex gladstone a couple weeks ago

but let's refresh your memories uh no human to human contact masks don't help no masks are worse yeah masks are worse than masks don't help then masks don't help travel bans aren't effective uh taiwan's in china taiwan is part of china like what is going on like what like how could any rational human being chinese death numbers have flatlined they just like completely flatlined they did a miracle what is what is youtube doing like hyping up the world health organization like how either so there's there's one of two options she's either insanely incompetent or insanely corrupt no i think i i'm not trying to defend these companies but i've said the same about twitter and i think they've dug themselves into a little

bit of a hole where they're being held liable for the content on their platforms which is the last thing they wanted um i forget what the clause is but it's the clause that that the earn it act is trying to remove which basically dictated that if you have an online platform you're not responsible for content created by the users which is was huge for the internet to to get to the point where it is today in america um because that's ridiculous that that if someone tweets out something that the company is held liable but what happened is all these companies twitter facebook youtube youtube yeah it's google but all those companies instagram they started using algorithm algorithms to show you your timeline to show you next video

wait let's back up no one second one second so once they switched to the algorithms they became liable for the content right why why is this content getting shown when i click a video why is the next video whatever video it is they became liable for that content um and now they're trying to shirk that responsibility by putting it on some other organization right by saying you know don't hold YouTube. We're just going by WHO's standards. Like that's what I, that's what I think it is. And I think like the way you solve something like that is, is you put in the ability for multiple moderation choices. So you can choose, you know, do I want WHO doing it? Do I want this organization doing it? Do I want this organization doing it? And you can like pick and

choose, or do I want no, no moderation. And, and you, you choose which one you want. Um, as far as a centralized platform goes i feel like that could be like a nice middle ground just youtube just go to what you were doing originally who fucking cares and again going back like if they're going by the guidelines they want to remove things that are untruthful like why would you ever go by the world health organization's guidelines when they've been very untruthful and have been like which organization do they choose exactly that's the whole point like you don't know like let people decide for themselves like that's the point of the bent articles that i was writing earlier this week you know what i'm going against the homeschoolers again too these people hate you they don't think

you can critically they don't think you can take care of your children they don't think you can make decisions for yourself like they want to make the decisions for you and that's becoming no glaringly obvious this is the exact opposite with youtube like youtube can go fuck themselves with their censorship censorship uh policies right youtube's a centralized platform there's no censorship resistance there but they don't want to make the decision they're being forced into a position to make these decisions you know if it was up to youtube they would have no moderation whatsoever they make more money did you watch that video they make more money that way did you watch that video she does not she's not like uh we just need to like give it to the world

health organization she's like no this is the authority on the matter and we're only going to be pumping them because that they're right and you're wrong that was the tone that woman can go fuck yourself that woman can go fuck herself but if you look at the incentives for these corporations okay twitter twitter doesn't want to ban anyone twitter would love bots to just run all through twitter and boost engagement numbers boost advertising dollar numbers have crazy clickbait stories and stuff the incentives line up for them to allow that they put themselves in this position though where they can moderate and because they can moderate they're expected to moderate and then all of a sudden you end up in this vague-ass situation where what is right and what is wrong

what should be removed what should be removed ding ding ding ding ding ding ding ding now we're getting to the point who are the people pushing these moderation practices on who's behind them who's invested in these platforms like how much who's providing the money we know i know twitter specifically has a lot of saudi influence maybe a lot of china influence as well youtube as well these all these platforms are american companies the biggest influence they have is on the american side but there's other influences as well of course i mean you can't deny of course i don't know man again maybe it's me going stir crazy during this quarantine maybe i haven't gotten enough fresh air last month and a half but there's something like

it seems like they're trying to erode our civil liberties man with twitter government via the with the cares act or the corporations via censorship and they're picking like they don't think that you can critically think i don't think it's i don't think it's monetary incentive i just think they want to be the arbiters of truth and the gatekeepers of who's allowed to say what when and in what way i think every person in power between governments and private interests have realized that it's very easy to mobilize and control a population through social media so it's a prime target i think that everything except for video in terms of social media we can have we can we can switch to distributed alternatives relatively simply just things that you can move

your data around you can move your social graph around you can't be censored easily there's not a central power that can censor you in the first place that's the real solution right with video we're kind of fucked on the short term like there's no you know it's just that's just a scale issue if you want hd video you know it's gonna it's gonna cost you when you we need more as well to extend itself yeah that's just a it's a that's a waiting game but then at that point we'll probably be like well you know you could get the hd video and censorship resistance way resistant way but if you want like a full vr experience then you have to trust google or whoever you know whoever is the because it just moves up like we could do

right now we could self-host standard definition like low quality video it's um it's weird times man like and again as the numbers are are rolling in and seeing the cuomo came out today it seems like a lot more people uh than previously thought have the antibodies for the virus um so the fatality rate is falling and that's like that's the other we didn't even touch on the unemployment rate what was there another 6.25 million it's up to 20 we're up to 37 bostons 37 bostons dude none of the freaks none of the freaks called that out i i thought that was so clever i have a bunch of friends from boston so it was it was really a dig on how small their population is compared to new york that's that's what that dig was and no

one no one no one appreciated it well not even 37 bostons is the top 10 cities in the u.s combined like more than that is unemployed that's insane 37 boston strikes at home harder yeah i mean 26.4 million people are unemployed right now that's insane that's just in america just in america like and what does this lead to what does this lead to like we're getting ubi instituted they're they're instituting apps that dictate whether or don't dictate they let us know when we're not six feet away from the closest person to us they're creating apps that are going to track whether or not we've had the disease who we've been around whether or not we've been treated and recovered

i don't know man it seems like again we're getting patriot acted and like is it all justified like is this whole like is this economic even the shutdown like i'm like like when do people start going back to work so i'm torn on that so the reason i'm torn on that is because i don't think i think if any government is going to shut down somewhere it should be local so you know obviously that hasn't been the case so i'm against that aspect i'm also against wholeheartedly against the idea of closing down beaches and parks and harassing mothers and stuff at parks uh when when the police aren't even wearing face masks and their solution is to bring you to a holding cell where you're not going to be practicing social distancing

that's all ridiculous the surveillance aspect that's all fucking ridiculous the pandemic the virus seems like it's not as bad as we thought it could be at this point potentially we might you know maybe the lockdown worked you know who knows we'll find out um if it was a really bad pandemic right let's say the death rate was like three percent or four percent the problem i see is the massive inequality we have in this country the systemic discrimination we have in this country that you have a whole swath of people you know what's the stat it's like 10 people are worth the bottom 50 or something ridiculous right those people those waiters those bartenders those bus boys all those guys they have no choice but to go to work

there's there's no there's no this whole idea that you know if you still think the lockdown should go on but but it gets lifted then just stay home those people don't have that choice they have to go so but where that falls down is there was no safety net right so like if you're gonna go that route if you're gonna go that route you have to make sure that these people are gonna be able to pay their bills pay their rent pay their car payments pay all their fucking expenses and and like if you're gonna go that route you got to go full fucking hog and like that hasn't happened either so now these people just don't have money um they can't afford basic items and they can't work even if they want it to work so it's like the worst of every situation

all right we're about to go in i just had a banana daiquiri delivered to me and i gotta i gotta finish this enjoy this with you can we cheers yeah one sec let me let me pour some more non-daiquiri scotch so and that's that's where we are right now like what's going to be worse the the virus itself or the reaction to the virus cheers cheers the computer screen that was a loud noise it wasn't margarita it was a banana daiquiri um and so i mean safe i mean safety has been getting a lot got a lot of shit earlier in the virus for for saying it was overblown that uh shutdowns were a little overblown and now like the last few days last week he's making some really good points like what are the negative

externalities of doing this massive shutdown across the country across the world to the global economy like economies markets are very uh not fragile i mean some of them are fragile but they're very uh complex organisms and if you throw a wrench in this complex organism uh and basically basically stop it from uh operating for an extended period of time you don't just flip a switch and have everything go back to normal like the the knockoff effects of not letting people work and collect paychecks is is something i don't think we've been taking into consideration something we can't even we can't even model out like nothing that's that's the interesting thing people haven't been modeling out is is the adverse effects of the shutdown overall and as a data and

that's the thing that i wrote about this last week i very big fan of overreacting initially because you don't know it's a foreign disease new disease you don't know a new virus you don't know how bad it is and how many people can kill overall but as the data rolls in it's becoming more obvious that it's only affecting certain people comorbidities and over a certain age range you have to start letting people go to work unless you want to literally destroy markets these complex systems i have two points um the the first point is is that it's impossible to make a principled decision here because of the situation we were in before this pandemic hit us okay this is the the situation we were in um partially because of our easy money uh

is is is that we were extremely vulnerable to this kind of situation when you have a lot of people living paycheck to paycheck when you have a lot of people leveraged up when you have a lot of people that are desperate and have no choice like you end up way more vulnerable to a pandemic that's just how it is and you know like you see a place uh like singapore where you have this massive massive wealth inequality uh where you have these workers that are imported that aren't even citizens and among the citizens uh coronavirus hasn't really been a problem uh but among the workers it is that's where it's spread right and in america we're seeing that the slaughterhouses right but in america it's way larger the the number of people that are in that situation

while being in a better situation than singaporean migrant workers are there's just a large we're a big-ass country right so we're in a very vulnerable situation to begin with the second thing i would say is why aren't you back in new york city i'm not moving back i plan on moving to philly you're never going to go back to your apartment no i'm going to go back yeah i mean i don't have to i'm like i don't have to go back it's so much cheaper where i am right now i mean but you're paying your rent you're paying your rent in brooklyn yeah but i'm not paying for the goods outside of it i'm not paying rent where i am now so what i what i'm saying is at least first of all it's ridiculous to treat the whole country this is where we come back to like local local government should be

choosing right but like this idea that like the lockdown is what's hurting restaurants right now uh in new york like isn't true like i'm not going it doesn't the lockdown could be lifted tomorrow de blasio could come out and be like there you know every restaurant can open like i'm not going to a restaurant i thought we've all we've been wanting to do is go to a bar yeah i want to you know i want to but it's not the lockdown that's keeping me away from that right it's it's me not wanting to get coronavirus well that i mean and that's again the point i'm trying to drive home here as the data comes in we've had fear at all-time highs in the last few months as the data is coming in it should help quell our fears like oh it's not as bad as we

thought and yeah it's going to be a time process it's going to be a process um and again who knows who knows maybe there will maybe the lockdown is is what's effective and again look at what they do not what they say like they lock us all in our homes they put us in our pods and then uh they bail out all the large corporations and they're starving small businesses and you're gonna have large businesses be able to basically gobble them up and create more centralization yeah it's fucked up yeah i'm not saying it's not fucked up who's this helping like they could have easily like chamath said you want to you want to help people out take that money you're giving to the corporations that took stock buybacks and just give every american five thousand dollars

it's about a trillion dollars a month just give us five thousand dollars a month until you want to remove the lockdown like fuck the trickle-down bullshit just just fucking and and people can spend it however they want to spend it they can they can buy bitcoin with it they can buy fortnite skins they can order takeout food they can pay their rent whatever the fuck they want to spend it on if you're going to do it anyway if you're going to print that and and it's the easiest with very little overhead no corruption but that's why they're never going to do it so i'm not saying that it that it's that it's not fucked up very very little corruption so how much corruption is being thrown at the system right now it's just all corruption it's just

straight straight fucking corruption and incompetence but what i'm saying is there's like nuance there there's nuance here like everything else uh yes and we're a big fucking country and there's there's a lot of nuance here protesting is obviously an essential activity they can go fuck themselves um mass surveillance is completely unwarranted uh the two biggest things we have going for us is is masks and education and at least they're advising people to wear masks right now the supply isn't there yet i just tried to get more masks in for nurses they're fucking they they restricted them even more that's why i thought that the epsilon theory episode was interesting i i kind of want to reach out to him and see how he's been able to get the kn95s out

out of china because right now i'm not able to get any more which fucking sucks because i was because i have people that need them in new york right now uh but masks and education just people taking it seriously and just being aware of the situation which wasn't the case pre-lockdown especially in new york was not the case at all like i was the restaurants are packed the bars are packed the subways are packed everything was fucking packed um and masks people wearing masks and then we can we can start moving in the right direction here but there is there is like absolutely no way uh maybe this is a v in in equities but for the real economy there is absolutely no fucking way uh that that we can just go from 37 boston's worth of

unemployment when we were only at one boston worth of unemployment uh the last the last cycle and just like turn that around there's too much there's too much at stake here there's too many people that are hurting really really really badly right now and everything they do is just layered in corruption and incompetence i agree and so that leads me to two points going back to what i made earlier like what are the cascading effects of negative externalities like why didn't we think about this long and hard before we started doing this there are obviously examples of people or not people countries that didn't do lockdowns they bottom up lockdowns like sweden people just decided not to congregate large groups go to movies blah blah blah their economies are

still running at a certain to a certain degree and they have similar uh similar rates of contraction and fatality rates what was the second point i was gonna make but this was kind of bottom ish up our lockdown i mean it all started with the nba canceling their season that to me was when people started taking it seriously right seeing the that jazz game i'll never forget it like them having the uh the warm-up guy do like three songs and just be like the game's canceled you can all go home and then all the schools like the big colleges started doing it out of peer pressure this was like before anyone really um like before government started enforcing it then governments like jumped on hard yeah but what are the cascading effects like how

i'm like now i'm getting like worried like are we going to see uh fema camps at prospect park because well we remember you calling that gladstein we will call that out in in about five and a half months he said six months he said six months refugee camps in in prospect park like i was thinking about this today like what happens when it does open back up and you literally have 26 i mean hopefully some most of these people are just furloughed and like their jobs are like yo just go file unemployment when everything gets back to snuff you can come back here but you got to imagine some people are not going to be able to go back to their old employer and then the the competition for the

scarce jobs that will exist that's going to create some weird times man it depends how much longer this goes on for uh what do you think you should start opening up earlier no well it depends it depends what happens in and georgia that's opening up in vegas that's opening up in florida that's opening up uh you know do they have issues there like one thing for sure is that dense public transit is a major spread factor we have that in new york uh boston got hit decently hard boston has um a far inferior subway system to us but but they do have one of the better ones in the country uh dc has one right so like a lot of the places that had it is is the fact that you have to drive everywhere in florida enough social distancing uh that's a question that's yet to be seen we

will probably find out over the next three weeks that correlation is is in causation though Chicago's probably right next to New York in a subway standpoint. Like, did Chicago get hit that hard? I don't think so. Does Chicago have a good subway system? Yeah, I mean, that's where I went to college. I used the subway every day.

It's always packed, or at least it was when I was there. Like, what is... I don't know, man. The herd mentality came in strong here, and people were so willing to just give up their civil liberties and the fear like that's that's the other like the inherent skeptic in me is just like all right everybody's scared as shit people are taking advantage of it mainly the government the

corporations um to erode our civil liberties and then amass more wealth or market share it's probably better it's hard to amass wealth when nobody's spending anything market share is a probably more apt term there again i can't pinpoint it exactly but i just got skepticism bells ringing in my head like something's something's going on here i don't know that could just be going crazy in quarantine which may be the case um i think that it doesn't you know our government is super incompetent okay this virus has so far all all expectations of it um have have been less than than what was expected right

yeah 25 million dead exactly okay in new york where were the hardest hit but still way hit less you know they were predicting 40 000 icu beds or something it's like 5 000 icu beds right it's like way way less we still don't have you know our police officers have one mask each our our nurses are reusing masks right everyone's reusing masks everything all the ppe is rodolfo's favorite word favorite acronym all the ppb is like being reused is is they don't have enough of it and we barely got hit right so imagine when they made this call which a lot of people you know they were they were so not prepared imagine if this was like actually like a really bad virus like imagine if the death rate was higher imagine if it was more contagious like that is you know it could have

been it could have been really bad all right we got some more welly and watch it here i agree i agree somewhat but some just now reminder via spotify take a break here's some calming music to help you find your zen what the fuck dude i'm throwing my phone out well i actually did have a theory uh my discover weekly on spotify has been way more uplifting lately and i was spotify just reached out to me it was like yo calm down bro you're getting too animated on this podcast we can hear you well they might not hear you they might just get your newsletter you know um like one of the things that a lot of people when they think like their phone hears them uh which i'm not saying mine it might be absolutely the case that some some of these

devices are listening when they're saying they're not listening you should just assume they are um but like if someone in your household like googles something you talked about on wi-fi and you didn't google it it'll still show up on your ads like it'll still show up in your preferences and stuff so there's a lot of times there's a tangential reason but i do think spotify that is one theory that i will prescribe to that i think spotify is trying to make their playlist more uplifting uh during during these times i've told i've told uh my spotify story before they're definitely listening or at least using geolocation um went to a concert and he left after the opener like didn't even stay for the main main show and that monday discover weekly never heard of this

band some obscure band the opener was on my discover playlist for a song it was definitely geo it was definitely or maybe maybe credit card information if you bought it with a credit card my friend bought the tickets um yeah but yeah i don't know i don't want to again look i'm not trying to say like we shouldn't underestimate people in power's desire to increase that power every time they have a have an ability to and when fear happens that's when they fucking do it and we're seeing them do that right now um but with every as with everything else there is nuance there is nuance here and even for this virus even if we agree that this virus wasn't as bad as we thought it was we were grossly un-fucking-prepared for it

even with a full lockdown they're running a full lockdown and and no one you know way less projections than we expected and they're still running out of shit well that says more to be about the preparedness yeah exactly we that's not that's not about the seriousness of the virus though no i'm saying that's that's how you end up in a situation where someone who might not you know necessarily be thinking from an element of corruptness uh or malintent needs to move us into a position of of of lockdown right because we were so unprepared you gotta you're willing to fucking trash the economy for the sake of buying us a couple weeks right because when you reopen you end up in the same situation anyway so the whole idea is like we're so fucking grossly

unprepared that we're going to try and buy ourselves a month or so uh to get more to basically steal all the masks from all the other countries which is like what we've been doing um is that that was basically the strategy is like we're so fucking unprepared we'll delay it a month and we'll we'll we'll take all the masks to ourselves and then we'll be good yeah and then well then you get into more nuance like it's maybe coming to light that ventilators probably do more harm or maybe do more harm oh i haven't heard that some instances yeah that's like so there's theories out there and i actually saw a youtube video of a doctor from myu who was like i've never seen this before this isn't a pneumonia this is some different type

of disease potentially a hypoxia that attacks the lungs so maybe attacking the oxygen receptors of blood cells and not the lungs themselves and ventilators may actually exacerbate the problem by overworking the lungs when they're vulnerable when the blood cells are vulnerable that's one thing i've heard and speaking with doctors um they're beginning to come around like oh maybe that is the case but also like to put it in context these doctors are put in a very precarious situation when somebody's showing the signs that they are like this stuff moves quickly and they make quick decisions and um like it probably makes sense at the time to put them on a ventilator not knowing and again this being a wholly foreign disease up to this point in time virus excuse me

um it really again it adds to the uncertainty of the whole situation where you don't even know how to treat it correctly you don't know if you are treating it correctly and it's just fuck look i 100 believe in personal responsibility i think everyone should have their own choice here um if if it doesn't come down to that it should be the local government i just uh you know i like i said i don't i think this this whole orwellian overreach is fucking bullshit the idea that protesting is an essential activity is bullshit that we can't go to parks and stuff like that and then it's being policed to this extent that de blasio has like his fucking snitch tip line um motherfucker i love the protesting to that where they just sent him nazi memes

but like you know it it even for the non-corrupt it's a it's a difficult situation to be in right like you know there there shouldn't be like what do you do with the public schools what do you do with the uh like all the government different programs like should should uh the department of buildings be running you know during all of this should uh traffic court be running should all these different little intricacies and it's it's mostly a symptom where we're put in this situation because our system was already vulnerable to it to begin with exactly right so exactly you have to make you can't we can't just erase it all and be like well if we were already in a more localism focused society we could handle it better yeah like obviously but we weren't in that situation

to begin with so you end up in this super messy situation and then they compound that confusion and that fear to further their end goals of controlling and to have more control right so so there is nuance here that's that's that's all i'm trying trying to get across now and i completely agree i'm very happy you said that because we can bring this back to bitcoin because this is what i hate when the keynesians and the modern monetary theorists are like how would bitcoin fix this it's like well in the first place we wouldn't have gotten to this situation it wouldn't be such a precarious situation economically if we had been on a sound money standard in the couple decades leading up to it and maybe even less um and that's a very good

point too because it highlights that all right if you want to fix this for the long term medium to long term when the dust settles when the economy is somewhat up back and running and we're trying to figure out all right we fucked up what do we do next bitcoin provides an exit it is a a system that is bereft of the controls that exist in our current system and the corruption that exists in our current system and the uh orwellian nature of our current system that gives you an option to exit and start building a new system it's not going to happen right away it's not going to be perfect out of the box but it the option is there you can start moving towards the system by exiting the current system particularly the monetary system i've been tweeting this out and writing

it in the bent and wrote it today fix the money and you fix the world i truly believe that the the the root of the ills in the world are is the corruption of our monetary system yes, other things are corrupt. Other parts of the system are corrupt. But if you really want to enact systemic change, you need to fix the money first. I 100% agree. I would also add that a more direct example is that as soon as people really truly needed masks, they couldn't get them. Governments around the world increased their customs restrictions, their import-export restrictions. Right now, you cannot get unimproved masks out of China. The only way you can pay for masks to China, the only real way to pay for them

is through Bitcoin. We're seeing similar measures applied to gold, not to the same extent. A lot of it just has to do with supply chain issues. But you can see in a world where someone truly needs gold where that that ability to physically settle that i that idea where you're going to be able to send send the gold around the world that's the choke point um bitcoin doesn't have that issue right it you can it is it is not sensor proof it's censorship resistant but it's way harder to enforce import export controls when the way around it is a simple text message especially when encryption exists so you as long as you're able to send

encrypted text like enforcing that restriction is going to be very fucking difficult and I don't think the world is truly priced in how massive that is of an advantage over gold it's all priced in bro

yeah I forgot yeah that's what I meant to say alright my daiquiri is done thank you for listening to my quarantine rant And again, that's the thing that sucks about this situation. There's so much nuance into it, and it's so confusing, and it's so new, but it's like, I don't know, just innately, intuitively, I'm like, ah, something's fucking afoot.

Something's fucking afoot. Definitely, I 100% agree that something's fucking afoot. Yeah. I agree with you with that. Anyway, I love you, freaks. Stay humble, stack sets. Peace and love. Okay.