TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Week of 2020.10.05

Episode Date: October 8, 2020

This week Marty and Matt discuss: - Square buys $50M worth of bitcoin - New Europol report - Travel rule rumors swirl - New DoJ framework - HMRC orders coinbase to hand over customer records - Chainalysis hits Mex with high risk warning - BitMEX leadership changes - bitcoinprivacy.guide - Schnorr summary by suredbits - specter v0.8.1 - bitcoin wallet tracker v0.1.5 - blockstream green desktop v0.0.4 - sparrow v0.9.5 - bluewallet v5.6.1 - BTCPay server v1.0.5.7 - Hexa Wallet v1.2.0 - Fully Noded v0.1.90 - Ledger live adding coin control and full node support - Riot Blockchain buys 2500 S19 Pros - $26 million in bitfinex stolen bitcoin moves - mempool sponsors - classroom surveillance on the rise with rona as the excuse Shoutout to our sponsors: Unchained Capital. Check out their white glove vault concierge service that will take you from zero to secure multisig setup in no time. Use the code TFTC and receive $50 off that package that includes 2 Trezor Model Ts and $1,000 in your vault. Cash App. Start #stackingsats today. Use the promo code: "stackingsats" to receive $10 and contribute $10 to OWLS Lacrosse when you download the app.

sup freaks welcome back to rabbit hole recap another big week matt none of us are drinking yeah neither of us are drinking huge week i have a white claw on the side i'm currently drinking a cold uh nitro cold brew and then i'm gonna open the white claw yeah we need to we need to pick up these vibes just to clarify for the freaks uh you didn't break your sober october for the leo episode it was it was the the last it was the it was it was probably what pushed you over the edge to say you're gonna do a sober october right it was the last recording before sober october um but like uh like george washington i cannot tell a lie uh i've not been completely sober this october i've been sober from it sober for most of october it's the eighth

it uh had a big family gathering last saturday wow you know wow last time we take marty at face value freaks hey noted i hey i just fessed up you know it would be terrible if i sat here and said uh otherwise you know we we appreciate the disclosure marty transparency is appreciated uh hey you know what you got to be the change you want to see in the world i cannot tell a lie uh big week should we start the dashboard and just get into things obviously people are excited let's just jump into things this is one of those weird weeks where i'm like extra bullish and extra bearish at the same time yeah a lot of a lot of gray hairs being formed on my head a lot of mixed feelings this week a lot of big announcements from publicly

traded companies from uh regulators department of justice let's get into it we're going to start at clark moody's dashboard where the price of bitcoin right now at 3 24 p.m eastern is ten thousand eight hundred eighty two dollars uh a dollar is going to get you nine thousand one hundred eighty nine sats the bitcoin market capital market capital market capitalization is 201.4 billion we're currently at block 651 854 uh the next difficulty retarget is in 1330 blocks it is estimated to be a two percent upward difficulty adjustment and blocks are coming in at roughly nine minutes and 48 seconds there was a difficulty adjustment since we last met it was a downward difficulty adjustment of uh 0.1 percent so nothing too crazy there um

but the block time difference was 951 that's interesting blocks are coming in under 10 minutes per block yet there was a downward adjustment uh right now there are 35 239 transactions in the mempool uh still got because it's just barely under 10 yes we uh we have the ability to send one sat per byte transactions if you're willing to wait a week if you're trying to get your last time if you have a time preference that then only lasts a day you can get a transaction through three sats per byte if you need to get it in an hour it's 106 sats per byte and if you need it next block you might want to set your transactions with 112 sat per byte fee the hard part with the fees is like the middle ground you know like i don't i clearly know when it's like i can i can

either wait and it's a self-transfer right and it's like one sat per byte or like i'm like it's it's to someone you know right and it could be like a one sat per byte that can take whenever whenever it goes through it's fine or it's you know asap right like what is who's the guy who's like you know i'm willing to wait like 8 to 16 hours like who is that dude like what transaction is that transaction yeah and the game theory works out to like how much you factor in potential uh increased congestion within that time period yeah it's like asia wakes up you're like i can wait seven hours then asia wakes up and it's like 14 hours instead yeah that's why hey make an rbf right now according to clark's that's true dashboard 12.3 percent of the transactions

in the mempool are using rbf uh papa whirlpool i mean you don't even have this on the list but we got to bring it up uh whirlpool liquidity right now is 1645.99 bitcoin uh the cycles the last 30 days are 9,260 um what is the liquidity uh 1,600 basically 46 bitcoin yeah okay what do we have to bring up yeah just like the flame wars they were heating up this week everyone's a hypocrite yeah like the flame wars again i recommend to anybody working on these technologies I know you have your critiques, your doubts, your beef with warring factions and the coin join wars, but I do think the flame wars do a disservice to the concept of coin joining at large because it truly does confuse a lot of people, like what works, what doesn't.

I will be definitive here and say that I think the way Samurai Wallet acts in social media detracts from the whole educational effort tremendously. That's extremely frustrating. I'd also say that the white knights that are anti-samurai, you know, are not innocent here. They're fucking obsessed with attacking samurai every day. They come out and it's something else. you know so um you know it is what it is uh eric wall said something interesting uh which i probably am not clear enough all the time but that ux is is almost as important as the underlying privacy tech because you need it to be easy enough that we have a large enough

people to use it because otherwise you have no privacy um which is one of the reasons what I was going to say, before you get into this diatribe, maybe we should just read the first shout-out because we have a shout-out bet. But that's different. Before we get to that shout-out. Okay, okay. And that's one of the reasons why I like the Samurai stack so much. People said, some people said that I'm not critical enough of Samurai. my biggest issue with samurai is besides the the way they act on on social media which is

you know they have deference i don't need to tell people that they see it um is is is the actual wallet code uh but they're working on making that cleaner that it's one of the reasons why it's still a beta product it's one of the reasons why they haven't prioritized making it a reproducible build because they're refactoring so much in the code base that they're changing so much in the code base um that it would just be a constant constant effort uh so that's my biggest criticism there as far as the actual implementation the whirlpool implementation the coin join implementation i think is fucking fantastic i think if wasabi actually wanted to to improve their situation for their users

they would fork Whirlpool and they would run the Whirlpool implementation within the Wasabi code base, the wallet code base with their neutrino and everything else. They won't do that for ego reasons. The best case scenario would be if they shared that liquidity pool, which is one of the reasons why I'm working with Hexa to get Whirlpool into Hexa wallet and where they share that liquidity pool, that unspent capacity pool. um and then last but not least uh you know like if if to go back to the ux thing like yeah that's the problem with join market right the problem with join market is the ux is just not there and if the ux isn't there we're not going to get enough users to use it so yeah so so anyone who

any to the to the people that want to recommend join market to to to the new users by all means do that um but you should answer the support requests yeah so much nuance goes into all of it and it does get confusing like the uh the uh accusation that that samurai team is is a bunch of cia spooks scares a bunch of people too i don't both say it i know i don't think the samurai guys say wasabi spooks and then uh the the anti-samurai people who by the way mostly don't recommend wasabi anymore they just do shallow recommendations of join market and and most of them probably don't even fucking use join market uh say that the samurai guys are spooks and and they both say that the other one that they're innocent of the fucking shit yeah it's they're all fucking full

shit man yeah so we're here to say hey the flame wars has objective outside i think i'm more of an outside observer i know that you get in the middle of the flame war sometimes uh and back channels i think i'm more of an outside objective observer i don't think the flame wars are beneficial to the uh the the goals of both implementations so i don't know this is not that i don't think you guys are going to take my advice but it's unsolicited advice that it's cooled out in the flame wars throw some water on the flame wars just put your head down do your do your work present your work and let it speak for itself on a positive note our boy bitcoin q a released bitcoin privacy dot guide this week which is just a really great place to just ignore the noise

and go through the Bitcoin privacy tools. I think it's a very user-friendly intro to that world. So I think everyone should check that out. At least learn. Just learn about it, read about it, do your own research. Ideally, play around with it. But even if you don't play around with it, get educated on it. So it's eight pages, sourcing your Bitcoin, securing your Bitcoin,

segregating your Bitcoin, scrutinizing your Bitcoin transactions, separating your bitcoin from its past safeguarding your bitcoin spending your bitcoin and then supplementary tools so if you're interested in any of those topics again bitcoin privacy dot guide obviously we're going to link to that in the show notes but while we're on it um this topic particularly we're going to read we have four shout outs this week we're just going to read one now um which is hi matt let's break we're going to break it up a little bit hi matt the bitmex aml saga has me pretty scared right now looks like the gov the government is serious about aml and on your advice i put my coins through wasabi a while back it's now dawning

on me that i've associated a good portion of my coins with a blacklisted address in a rush to take steps to avoid the fascist boot of the government i think i've actually opened myself up to be a very easy target for them and even though samurai is better it's still easy to see that someone has interacted with their quote-unquote cluster obviously we both do not believe in taint but then i think about the scene from below where the judge mocks johnny depp for not believing in borders right before he locks them up yeah oof so in light of all this would you mind just dropping a disclaimer on coin joins before uh encouraging people to taint their coins in the future some noobs like me uh might not understand they're making their coins worth less and are really

putting themselves in danger thanks love you guys i don't think you're making your coins worth less but you want to respond to this first marty yeah the question is directed towards you but i will put my two sats in here uh number one you don't believe in taint taint doesn't exist i don't think so uh your coins can be put on a blacklist or a white list but it's highly unlikely um that it will prevent you from moving your bitcoins especially if you uh have them in personal custody and then when you do move them if you do so happen to be on a blacklist and you're not doing anything illegal um you should be fine and on top of that they'll have to find you uh and then again you're even if your coins are associated with one of these lists at least up to

this point in time uh i don't believe there's two markets for bitcoins that have touched certain addresses at least not to my knowledge so i don't think you're losing any value of your utxos other than the fees you may have paid to coin join okay so let's unpack this first of all absolutely if you're trying to just trade your coins for fiat you know buy some for investments sell them right away on a kyc exchange then you shouldn't even mess with coin join um like that's a completely different prerogative than than me i have a long-term investment horizon i'm basically just buying and holding bitcoin uh for my grandchildren you know this is going to be 10 20 years 30 years no intention of selling them on coinbase um if you if you differ from that then obviously you're

a different situation there i i think we've been pretty clear about it but point taken we will be more clear going forward second thing is coin join is not illegal in the western world it you know we're going to talk about a bunch of things that are bad news here in terms of user privacy but none of them have said that coin join users are at you know are are illegal users um that privacy in itself is a crime no one has said that here uh we will unpack them but most of it is on operators first of all of operators of custodial mixers or operators of businesses that are operating custodial wallets without following regulations which in in effect act as a as a mixer not coin join and they don't even they're not even targeting the operators of the coin join services yet of the

of of the non-custodial coin join services yet like samurai or wasabi so not only are they not targeting the users they're not targeting the operators this the third thing is the only time we've seen coin join flags have been with that wasabi fixed fee address they don't have that fixed fee address anymore after we bitched about it for fucking months and they dragged their feet and finally fucking removed it we haven't seen i'm pretty sure we haven't seen any flags since they removed it which is amazing that's exactly what we said was going to happen um so and and And the fourth thing is, if you're not a criminal and your transaction did get flagged with that fixed fee address, what happened was the exchange would ask you more questions.

It wasn't like you were going immediately to jail. You had to explain yourself that you're a law-abiding citizen. You just believe that privacy is important because it is. This might not always be the case. coins with a coin join history are obvious on chain. So they might block them in the future. They haven't yet.

So freak, if you're worried about it, if you're from the fixed fee address time, maybe running through Wasabi one more time or running through Samurai so you don't have that fixed fee address just sitting there, send it back into the KYC exchange you bought it from

and either sell it to them or you can just leave it in that KYC exchange. like if the way i look at it is if if coin join if if coins if if bitcoin that have a coin join history like any history are just non-fungible can never be used again like how far back are we going are we going eight hops are we going six hops are we going 10 hops uh if it goes if it goes into lightning and then and then comes out of a lightning is it is there still coin joint history there like how far back do you go and we see with bitmex now they're flagging bitmex coins with bitmex history which is like 250,000 300,000 coins so in that kind of situation if you're not able to

spend buy a sandwich in 10 years 15 years um through lightning or whatever with coins that have coin joint history like bitcoin like bitcoin's in serious shit like we're in a really fucking bad place like this if you believe in any kind of mission here in terms of like free sovereign money uh like we're losing that battle hardcore if that's the situation so so you really just have to decide for yourself do you want cuck money or do you want better money and if you want money like that's fine just leave your coins on coinbase or do one hop out to a ledger don't use your own node and like that's that right and and and if your government bans bitcoin then you just go hand it in you know and and but but don't give me this bullshit on twitter about how like you're

fighting the man and all this shit because you're not doing that co-signed i mean yeah yeah like we say many many times on this podcast there's a lot of nuance know your particular situation your risk appetite uh your time horizon what you're doing here uh yeah it's and that's something i think again even though we just said the flame wars really uh really hinder people's confidence in these coin join uh implementations if you take a step back and aren't aware of the coin join or excuse me the flame wars and you just have been objectively observing the software over time i do believe it has gotten better and will continue to get better moving forward uh but again it's personal decision make sure you're educated again go check out bitcoin q a's privacy guide

uh and and no it's it's uh it's hard to attain privacy on bitcoin and it's going to be a journey and it's going to be hard work so be aware and that's the other thing about the flame wars right it's like if you believe what you see on in on as particularly from samurai and anti-wasabi things is that people have gone to jail for using coin join no one has gone to jail for using coin join certain criminals have gone to jail because they've made mistakes and because their coin join implementations have been flawed but they went to jail for the crimes they committed that they tried to hide using coin join they didn't go to jail for for using coin join will we will we end up could we end up in a situation in the future where you go to jail for using coin join

maybe but we could also end up in a future where you go to jail for using bitcoin or you go to jail for fucking protesting you know like that's called an authoritarian society like that's not a great place to fucking be and i'd hope my grandkids aren't in that place i do as well and you know what i think we're just going to start off the podcast with news that makes us angry but before we do that i'm going to let you freaks know that this episode is brought to you by great friends at the motherfucking cash app i don't know if you heard uh but cash apps parent company square announced that they're allocating to bitcoin we're going to talk about that too but first we got to talk about the cash after helping you stack sats send sats receive

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slivers of stonks today cash that may even be your bank account they're offering account number routing numbers to individual users so you get your paycheck direct deposit into the app you can leave the old evil banks behind if you so please as always make sure you use the code stacking sats when you download the cash app that's s-t-a-c-k-i-n-g-s-a-t-s you're going to get ten dollars and ten dollars it's going to go to our good friends at owls across oh we got a friend what's up al you want to come give the owl hoot sound like you have a stuffy throat did you download the cash app yet make sure you do we're going to contribute to your friends owls lacrosse in chicago stacking sets this episode is also brought to you by good friends at unshamed capital

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package gets you hardware wallets, again, the video conference calls. And then at the end of the day, when you set up your vault, you're going to get $1,000 sent to your vault. So you go from zero to having $1,000 worth of Bitcoin in a multi-sig setup via the concierge white glove service at Unchained Capital. We're going to link to that specific concierge service in the show notes, but also be aware of their incredible blog series, Parker Lewis putting out incredible stuff on Gradually and Suddenly. They have their OTC desk, which is popping up in more and more states. So if you're a high net worth individual looking to buy big chunks of Bitcoin, Unchained Capital is there for you. And then they're contributing to open source, most importantly, or I don't

to say importantly and i don't want to scale the importance of their contributions one of my favorite of their open source contributions is caravan which is an open source desktop app that allows you to create these multi-sig quorums without unchained so go to www.unchained-capital.com to check everything out we're going to link specifically to the concierge white glove service in the show notes so make sure you check them out and go give them a follow on twitter at unchained cap all right we got through that do we finish the shout outs now or just go straight into let's finish the shout outs let's bring it back to like a a fun vibe the rest of the shout outs are fun um and then we'll get into news that makes us angry so this one is uh making fun of me

i'm gonna do my best i have not practiced this at all so here we go hi i'm marty bent habitual mispronouncer of words please listen as i read the following list of words alias a seed anathema camaraderie colloquialism demagogue grandi grandi eloquent grandiloquent maelstrom nadir panacea Purell Sandwine Timbre Warshesser Onomatopoeia

Ignominus Defibrillator Espouse Purell Penis From an anonymous freak out there Whoever sent that one in I appreciate you tremendously

I honestly don't know how I did on that i hope i did well uh hey uncle marty and matt love you both thanks for all you do a few reminders for the freaks number one spend fiat stack sats number two stay humble shill lightly number three coin join into your multi-sig wallet ps sending the shout out via strike on chain shout out to our boy jack mallers and team from our boy sahil at sahil uh is it c0 at sahil i think believe c0 on Twitter. Sahil, thank you for the... I met him in Dallas.

That's what I was going to say. Thank you for the shout-out. It was a pleasure meeting you in Dallas. A true gentleman. And, yeah, Strike now has on-chain capabilities. So if you want to buy and send straight to cold storage, that isn't Lightning.

Lightning isn't cold storage. If you want to send it to your hardware wallet, you can do that now with Strike. Because you can pay any Bitcoin QR code with Strike now. Yes, yes. Last shout-out of the week. It just simply says, floor is set.

And that's from at RoninNode, R-O-N-I-N-N-O-D-E. He's clearly talking about fees and how we're not going to have one sap per byte fees ever again. Yes, it's set. It's set. Thank you, freaks, for the shout-outs. We always appreciate them. It's a fun collaborative thing we do. If you're a freak out there who wants to get a shout-out on air, go to tftc.io slash contribute. Now to the stuff that pisses us off. We're going to start with the Europol report.

This is probably the least bad of the stuff that pisses us off. They just did an internet organized crime threat assessment that they released last week, or actually earlier this week on the 5th. The interesting part here is they mentioned both sets of spooks. Yeah, they mentioned Wasabi and Samurai by name. Yeah. And Monero and Custodial Mixers. Yes.

uh so they're again the uh the law enforcement agencies around the world are wising up um this uh honestly like all the reports that are dropped this week especially the doj's today which we'll get to later these people know a lot pages these people know a lot more than people suspected a lot of people thought these agencies were behind the ball and a bit dumb but it seems like they understand what's going on pretty pretty well so be aware europol uh we wanted to point out that they announced the the spooks by name uh wasabi and samurai uh beyond that we had travel rule rumors swirling around i've read about the travel rule twice this week including yesterday when uh we were made aware of this site uh what's the site called travel

Travelruleprotocol.org? Yes, travelruleprotocol.org. This website was brought to our attention, and it's pretty messed up. So this is where the nuance comes in, trying to lay this out, at least from my point of view. Obviously, I'm not an authority on this matter at all, but here's how I view it. So the travel rule, again, it's a rule that is recommended by the Financial Action Task Force that financial institutions follow and that dictates that they have to share information

about particular users when they move funds from one financial service provider to another. They're now extending that financial service provider definition to virtual asset service providers as well. So these virtual asset service providers, as per the travel rule, are potentially going to be having to share user information with each other as as they transact between each other it was brought to our attention that there

is a group of quote-unquote industry leaders in the virtual asset service provider space which is basically bitcoin exchange and financial services collaborators collaborators uh that are working to create an api that would immediately uh comply with the fta fatf travel rule in a timely manner and this is very discouraging to see because i wrote about it on tuesday basically the bitmex news from last week sort of set alarms off my head like hey if they're doing this to bitmex and they're being this harsh on bitmex like the only logical conclusion if you play out the way the travel rule works and everything that's been going on recently from a regulatory perspective, is it's going to get to a point where these exchanges, if they bend

the knee, are going to be in a position where they're not allowed to allow their users to send their UTXOs from the exchange to a personal wallet, because those personal wallets like Electrum, Trezor, Coldcard, whatever non-custodial wallet you may use, aren't collecting or sharing data with these providers. So the logical conclusion that I made in my head, personally, maybe I'm wrong but it just seems like it's headed in this direction is that if those non-custodial wallets cannot collect or share information they won't be allowed to interact with the the financial the virtual asset service providers that are FATF compliant so what's fucked up here the most fucked up thing here I think is is like because let's be honest

These large regulatory compliant exchanges and whatnot, including our sponsor Cash App, they have banking relationships. They have to comply with these laws, and they have to do their best to comply with them, and they have to work within those regulations. What bothers me the most, and I don't want to insinuate that Square is a part of this organization, what bothers me the most is we don't know who is part of it. There's no transparency whatsoever It's happening behind the scenes Behind closed doors And it's going to get sprung on us And I'm very

Concerned We really do not know anything And me and Marty are pretty connected So I can imagine the freaks are really out in the dark So first off If you are at the table Consider leaking Some information to us

If you go to mattadel.com there's a bunch of different ways you can can reach me that aren't on twitter or whatnot and you don't have to dox your your identity to me um i prefer if you don't so i don't even know that information and just leak the information and then we'll report on it um because in this country uh we're protected we're allowed to report on that um the second thing is yeah as marty said you know From what we have seen, from what has come up, you know, FATFA has certain red flags, things like using CoinJoin, things like using custodial mixers, things like using unregulated exchanges like BitMEX, but also things like doing self-custody and using a hardware wallet. and what happens is is i think at first we're going to see these exchanges basically say to you when you withdraw you basically have to agree that you're just sending to yourself i'm sending to my

own wallet i'm taking full responsibility for that transaction that's to me and that way that kind of absolves them of it and if you send to another regulated exchange they share the information but the ultimate end result here at the end of the day whether that's in two years or five years or seven years is a complete ban on self-custody and i've said this before when i was first getting into bitcoin people didn't think we were going to have kyc on all the on-ramps um you know some people were talking about it but people really took it for granted that that we didn't have widespread widespread kyc everywhere and i think what happens now is people are taking for granted that they can easily self-custody and i think in the future that's

going to become basically criminalized and there's going to be a dark period and there's going to have to be legal fights and there's going to have to be um it's not going to no no one said it's i mean i at least never said this was going to be like an easy thing like there there there there will be a fight and it depends where you live and it depends on a bunch of different macro things that are also happening outside of bitcoin but it's ah yeah and you alluded to it earlier it's like a situation where it's definitely don't hate the player hate the game and the game being the fact that the supranational unelected regulatory body and the financial action pass for us is setting these guidelines that then are being forced upon these financial institutions we need

to cut this hydra off at the it's we need to cut the hydras i don't even know how you kill the hydra at the end of the day but you need to you need to cut cut it out at its core which is uh the financial action task force i do not like this uh task force at all i don't think they do anything to actually prevent the things they want to prevent which is trafficking uh or laundering of money to aid drug traffickers terrorists i think they actually hinder the common man more and the drug dealers and terrorists actually facilitate money laundering uh because they're able to pay off some of the people high high off within this financial system uh so it's definitely a hate the game situation but also put some onus on the players to stick up for their users like

don't bend the knee like there are uh there are a bunch of industry players in this working group but there's also some players outside of the group and uh the players in the group if you're listening to this i would posit to you like don't just fucking roll over and comply with this like what the hell was bitcoin created for it was to get around stuff like this like these companies that have profited immensely off of the bitcoin protocol by becoming on and off ramps and service providers are just turning their back on the ethos of the protocol and why it was founded in the first place.

Like, don't just roll over and get a dick shoved up your ass because you want to comply. Like, stand up for your fucking users. Push back. Yeah, like, push back. And that's why we talk about it and I write about it a lot. The more people are vocal about this, the more political pressure there is to push back on this.

And Jeff Stravinsky actually had a good thread. Jake Stravinsky. I'm sorry, Jake. Jake had a great thread on. I don't know why I said Jeff. Jake had a great thread on, yeah, this is probably like the logical conclusion, but now the battle goes to the courts and to the regulators to push back. This is why we need to support politicians like Cynthia Lummis,

emmer and a couple others that are understanding of bitcoin in the revolution it brings and support them and support the people on capitol hill unfortunately we don't like to go through the state but if we're able to put some political pressure on these regulatory bodies to not institute these overbearing regulations like we should try to use every avenue that we can and yeah the fight is upon us it's here look this is you know it's it's the same idea as why people get frustrated about gun laws is is these laws they they're in their stated intention is to stop crime but criminals are unaffected criminals are going to keep doing criminal things it's the law abiding citizens that have to suffer here and we're going to be made vulnerable this these kind

of laws are they're anti-american at their core because you know we don't have the liberty of of being the most powerful country in the world anymore in terms of of terms of technology and our systems are wide open we've seen plenty of times where u.s government systems have been compromised and hacked where banks have been compromised and hacked where tech companies have been compromised and hacked and if we're going to store all of this private information of americans on our servers and not protect them securely all you're doing is making a country of vulnerable cucks and i will not stand for that as a patriot of this country we neither rely i'm right there on the front lines with you it's not like to add to what matt said that these type of

regulations are just going to enable the things they're trying to stop that much that much more you're going to push hash rate and innovation over the countries that you that's the fucked up thing it's like it's these governments fighting with each other and just they're cutting off their nose to spite their face all the activity is going to be pushed into the arms of the people that they deem as enemies and the american people and frankly europe europe gets tossed in with this england gets tossed in with this any western country that follows the u.s financial hegemony uh is going to be left in the dust the world are getting fucked together yeah it's fucked man ah so now we transition to the framework that the department of justice released

like an hour before uh we made the list and it's an 86 page tome uh it's got some good things it's got some bad things the way i understand the department of justice is attempting to create a framework from which to view cryptocurrencies how they can be used uh legally and illegally and where focus should be from a law enforcement perspective a lot of talk about drugs and money laundering in the report one silver lining like shining spot where i was like wow it's actually pretty interesting it seems like they're not uh they're okay with things like wasabi and samurai right now they don't so one of the 86 pages and they didn't say coin join use was illegal or or non-custodial which is what we mentioned earlier non-custodial software yeah the

operators the operators aren't committing a crime no so according to finsen anonymize this was like One of the blurbs, according to FinCEN, anonymizing service providers and some AEC issuers are money transmitters, whereas an individual or entity that merely provides anonymizing software is not, which is actually encouraging. Pretty huge distinction. It's basically the distinction we've been harping on here for years now. Yeah. So that was interesting. But with that being said, it's really the posturing throughout the, I didn't read the whole thing word for word.

i skimmed it but the posturing from the department of justice seems like they want to bring in regulation to protect people from drug dealers and criminals and terrorists where again like we said these criminals are going to do this no matter what and department of justice i've got a few few uh pieces of advice or maybe maybe something to think on uh to prevent these crimes without having to curb innovation in the bitcoin space number one why don't you end the drug war right there you cut off the the definition of a criminal you cut a lot of people out of the definition that would fall under the definition of a criminal right away the drug war has failed abjectly it does not work give it up you're creating more criminals why don't we like turn it to a major

criminal funding source too exactly yeah you want to end terrorism and and the facilitation of human trafficking a lot of that's funded by drug wars i would argue that the mexican cartels are terrorists and how do they make their money they sell drugs why are they able to sell drugs because they realize that people want drugs and they're the only people willing to take the risk to provide it to the market it's a very lucrative uh risk to take uh so end of drug war you'll reduce the total amount of criminals in the world significantly uh maybe stop indiscriminately bombing which actually i think the trump administration hand up outside of yemen which uh just support of saudi arabia is basically a proxy for bombing yemen but outside of yemen and

during the trump administration i think we've done a pretty good job of not bombing uh indiscriminately in the middle east actually trump announced he's pulling troops out of afghanistan by the end of year we need more of that less indiscriminate bombing of people in far off lands that pisses people off and creates terrorists why don't we try working on these things before you hinder innovation in the bitcoin space i mean why don't you start reading your suspicious activity reports for all the criminal activity that's happening in the banking system right that could help it's just give peace a chance give peace a chance um so we're going to link to the department of justice report again combination of like all right all right i see you there but also like

all right maybe focus on other areas in which you could prevent these quote-unquote crimes before you hinder innovation um just thought if anybody from the department of justice is listening we'd love to have you on have a conversation about this matt's shaking his head now uh staying on we've got two more top uh three more two and a half more topics of news that makes us angry uh the hmrc which is the equivalent of the irs in england is ordering coinbase to hand over customer records i believe it was for anything over five thousand dollars or just any purchase five thousand pounds five thousand pounds yeah or euros anymore they brexited um they never used europe uh the they still haven't officially brexited yet now

no chris arnotti posted a funny tweet about it i love chris like the year is 2030 uh like the british economic minister goes over to brussels to announce an extension of brexit and no one remembers why this tradition started in the first place so uh coinbase sent out an email to its users essential information about your account we're writing to let you know about a notice uh hm revenue and customs issued to coinbase under paragraph 1 schedule 23 to the finance act of 2011 the notice requires us to report information uh of your coinbase account to the hmrc so they're it's not even like here in the u.s where coinbase was able to put up a fight on behalf of

did they it was supposed to be all coinbase users and instead it was over 5000 oh yes yes excuse me I did not which is what happened with coinbase in the states it was supposed to be all coinbase users but it was over 20,000 so shout out give props where props are due

give proper props where props are due coinbase standing up for users at a certain monetary threshold like that's not one of them they have no choice there yeah um so any of our british freaks out there that are using coinbase your uh your tax revenue center well pay your taxes freaks but just remember that yeah obviously pay your taxes but

but but just remember that it's not just your coinbase history like if you didn't use coinjoin after you withdrawed from coinbase it's all your transaction history yeah that you've ever done is all you know and it's going to be stored on some server and securely so yeah but have fun with that but these tax authorities should not have this authority like it's whatever happened to innocent uh i won't speak for english law but for the united states innocent until proven guilty is a thing like you can't that's the case in england i don't either that's why i bring it back to the us and the irs like we're innocent to proven guilty here by trying to collect that data you're assuming that people are acting nefariously in the first place that's the case with the irs

no but i'm not a lawyer any of our any of our lawyers out there we have many of you that are listening to this my whole interaction with the irs has always been guilty until proven innocent so yeah it's fucked maybe a name only you are we are all tax slaves getting our money stolen by an incompetent state it is what it is it is i must note a little breaker here did not watch the debate last night i'm very happy i decided to watch a bond movie and all the better for it after the bomb movie i went on twitter and people were talking about dumbass fly no idea why i did also see the talk i saw the the i did not watch the debate but i saw the fly talk um this one is i think is really big that no one really is talking about um and this is that chain

analysis has announced that anyone who uses their products now if a customer deposits uh a utxo that has history of BitMEX, then it gets flagged with the high risk warning. And this is going to go back retroactively as well. So in their systems, historically, anyone who has had UTXOs in the past that have been deposited with BitMEX history are going to get flagged as well. And this just goes, you know, I mean, there's plenty, I think there's plenty of traders who would like happily throw coin join users under the bus and just like fuck you uh but at any point these chain surveillance companies and their cronies that they work with uh and lobbyists and regulators can just decide like they can decide 300 000 bitcoin 400 000 bitcoin are high risk you know and and and if

that becomes the status quo then pretty much all bitcoin are vulnerable to it it's like what do you are you so are we just gonna you're just supposed to buy bitcoin and just keep it in a custodian that's regulated for the rest of eternity because you can never accept bitcoin or spend bitcoin without doing like massive chain analysis till the ends of time to make sure that that you can spend your bitcoin in the future it's like the end result there and it's it's it's untenable we can't have that it's untenable maybe it gets to the point where doing chain analysis gets too expensive for these companies it's too burdensome to even do it so they don't do it in the first place we can only hope that we get to that point that's why it's important to coin join your coins

while you still can it aids in busting those heuristics that makes that process more tedious more expensive and more drawn out which will disincentivize the act in the first place in the future but but as the freak said earlier disclosure uh if you don't want to take any risk whatsoever then you know don't do that yes it is a risk that you will be taking but it's a risk that will pay off in a more robust bitcoin network that is less susceptible from these chain analysis attacks chain surveillance attacks as we like to talk to them all right call them talk to them we don't talk to these attacks they're not people they're inanimate uh implementations of somebody else uh all right on to good news square bought 50 million dollars worth of bitcoin

yesterday i believe it was like something like 4079 bitcoin was the amount they were able to acquire uh so they've released that news today and most importantly uh they've released a white paper that open sourced their process they explained why they added bitcoin to their balance sheet how they executed the trades uh how they're custodying their bitcoin they're self-custodying they are custodian but they've built their own cold storage uh implementation called sub-zero and they're using that they're putting skin in the game with their own uh their own treasury holdings uh they're explaining insurance uh they basically have crime insurance on their holdings and how they're accounting for the bitcoin on their balance sheet as well

and i just thought this was very interesting and it's a good topic to bring up and circle back on what we were talking about earlier about players pushing back and that's why again i'm still very comfortable having cash app as a sponsor of this podcast it's because i believe that squares actions as they have offered bitcoin services for the last three years are really principled and align with why i'm a bitcoin startup come on jack startup cash app allowing uh allowing people to get access to bitcoin very easily in their app i started square crypto to get back to the open source community which is building the non-custodial products particularly btc pay server and the lightning development kit and the bitcoin development kit uh that will build

non-custodial products that allow bitcoin bitcoiners to secure their bitcoins and use it more easily and then they have the open patent thing and now uh this news getting skin in the game putting their mouth their money where their mouth is getting bitcoin on their balance sheet open sourcing their process and potentially making easier for other publicly traded companies to get bitcoin on their balance sheets as well i just really like what i'm seeing out of it and second publicly traded company to officially hold bitcoin on their balance sheet come on jack only 50 million dollars what is this fucking pleb shit people are giving a bunch of shit for that they could no i mean i'm i kid i kid i think even though it's way less amount than micro strategy

uh i i think it's um i think it's a bigger deal than micro strategy because square is like a massive company yeah um there was like a lot more due diligence and stuff had to be had to be done while while microstrategy is smaller closely held company that really at the end of the day like michael saylor got to kind of do what he wanted to do yeah um so i i do think it's a bigger deal and i agree with you i think that jack is fighting the good fight um do not agree with all of his politics but i you don't have to agree with everyone you know back in the day you used to not discuss politics at the dinner table i sometimes i wish we got went back to that Yeah. Don't always agree with what's going on at Twitter, but we're going to focus on Square.

Somebody emailed me today saying we don't talk about the withdrawal limits enough. We don't criticize Cash App. We have criticized the withdrawal limits on this podcast, and they'll do it again right now. They're too low, especially if the Bitcoin price goes up during this bull market. They're going to need to be raised with that being said. And you should always withdraw. Withdraw, withdraw, withdraw. Don't keep your money on Cash App. And withdraw the coin joint. Yeah, yeah. But know the risks.

Know the risk. And as it pertains to withdrawal limits, I don't think the Cash App team likes them either. And I think Jack Dorsey alluded to that when I recorded with him last year. People ran with the, he's buying $10,000 a week. And I think he was actually hinting at the fact that he doesn't like the limits in both directions,

whether buying or moving off the app. Yeah, but if you just want cuck money, then you could just leave it on the app. Yeah, enjoy your cuck money. Cuck. software updates we're in the software updates section of the list already we're almost an hour in i flew by time flies when you're when you're mad at the news uh it's been such a weird week for me man right a lot of mixed feelings uh i think it's overall

bullish though again make people more aware of this stuff be vocal people really discount the the power of actually voicing your opinion getting out to the public and that's the beauty of twitter even though i don't always agree with what twitter does if you have good ideas out there and you're able to amplify it they do catch on sometimes i believe the newsletter and this podcast are an example of that i just fucking hit record put my voice out there and you freaks seem to like it and more people are picking it up and i don't know if it's having an impact might be I think definitely stirs some conversations and that's the least you can do

if you want to help push back against this just speak up against it not really a software update but a summary of a potential software update the Shorbits team has a very thorough Schnoor summary it's a series so shout out to Chris Stewart, Nadav Cohen

Nadav is the author of the series and our good friend Ben the car man the Shorbits team doing big things for DLCs for building their own Bitcoin implementation for a bunch of things. So go check that out. We're going to link to that.

If you want to learn more about Schnorr, it's a very thorough summary in a bunch of different blog posts. Something just happened in my backyard. I don't know what's going on. Your denial just fell out of the sky. Yeah. Oh, no, it's an omen.

um all right you run through the software updates i'm like out of breath here yeah okay cool this is fun specter v 0.8.1 uh has been released respecter maximus over here it's the easiest way to use your full node um with your hardware wallet especially in a multi-sig situation um but even single-sig uh we have bitcoin wallet tracker v 0.1.5 uh which is an easy plugin that lets you use Electrum with your full node. Blockstream Green Desktop V0.0.4, which is mostly bug fixes. It'd be nice if they added full node support, coin control. Sparrow V0.9.5. Not sure what the updates are there. Blue Wallet V5.6.1. This one's pretty massive uh it adds pay join support which is compatible with btc pay server so you can

um you can pay a btc pay server invoice just like if you if you use our btc pay server instance on tftc.io slash contribute if you do with a pay join basically our store it contributes an input to the transaction which defeats the common input ownership heuristic which is that anything on the input side is owned by the same person it basically clusters our wallet with your wallet so it looks like uh our wallets are the same wallet uh and it also helps mask the amount being paid uh so that's a it's a that's a pretty big improvement there is a common misconception that pay joining with yourself is a benefit uh there might be some tiny slight benefit but really because the heuristic is basically clustering the two wallets together if you cluster your own wallets uh you're you're

not really there's no there's nothing really that you're accomplishing there um so great to see that i know they're about to release multisig i don't think it's out yet it's just being teased on the interwebs uh btc pay server v 1.0.5.7 has been released uh fully noted v 0.1.90 has been released uh i've been meaning to reach out to fontaine but i know he listens to pod so i'll just reach out to him here i don't see the update on on the github repo so i'm curious about that but it's an iphone app so you can't download an apk anyway um but that's a that's uh he has a bunch of bug fixes there um what else do we have oh ledger live has added coin control and full node support which is fucking massive we've been uh teasing that for a while now uh i know we have

a bunch of ledger guys that listen to the podcast very happy to see this this is a massive privacy improvement this is the kind of thing we want to see we want to see i mean the ideal situation is that every bitcoin wallet should be a privacy wallet like they should all take privacy best practices in an account they should all have advanced features that allow a power user to use them more privately two big ones there are coin control and full node support so it's really big to see that. They also said labeling's coming, which I'm pretty excited about. And people don't discuss it enough. On Bitcoin Twitter land, no one talks about Ledger Live, but it's a very common wallet. A lot of people are using Ledger Live, so it's really good to see. Now, Hexawallet V1.2.0

has been released. On this podcast, I've never talked about it, but I am a paid advisor for them. I've disclosed it on Twitter. It's also on my website, mattodel.com. So he's got a nice full disclosure there. I've been advising them, trying to help them build the best wallet they can build. It should not be considered an endorsement in any kind of way. They have given me 0.75% equity. I don't think anyone actually discloses the amount of equity they get. So I'm trying to be a trailblazer there. And you can see that all on mattodell.com. But anyway, this feature that got dropped today is a feature that I've been very bullish about that i've been trying to get them to add and i would like to see other you know wallets offer

something similar too so it could be distributed more but it's basically an easy way to accept donations and and what we've seen is like btc pay super bullish on btc pay i'm wearing the hat you can host it yourself accept donations completely sovereign uh with your own full node that's a pretty difficult for people uh and i think what you need is you need we see these people get deplatformed they get deplatformed from like patreon or something like that uh and and we say to them like oh you can take bitcoin instead and it's not easy for them it's a very complicated process with this new feature they can basically in five minutes any schmuck can just download the app and just immediately start accepting bitcoin donations uh non-custodial right now it's on

chain only uh because they don't want to do lightning custodial so it's on chain only uh and you are trusting them with your privacy and you're trusting them to actually deliver the address and if you want to level up from there then you use btc pay server and you don't have to do that but i think it's important that we have this this this middle ground where people can accept donations and bitcoin and not reuse the same address over and over again and it gives you this nice little entry phrase it shows when people pay and if they pay with hexa it you can actually add a message to it as well that shows up on the little the little splash page yeah i was very impressed by the demo that you posted today setting that up i got really excited so i just

immediately that was pretty dope sleek shout out to the hexa team we met them i met them for the first time last year at bit block boom uh and they've been grinding ever since where the wallet it is today compared to where it was when i first met the team last year is is leaping bounds uh ahead of what it was so shout out to the hexa team thank you for advising uh with some good ideas it seems like they're they're implementing them and um thank you for disclosing the equity yeah of course i mean i still think it's weird i mean look the way i look at it is i talk to so many different projects and so many different teams in the space all the time some of them give me equity uh and as long as i fully disclose it i think that's important i will drop them if

they ever added a shit coin or behaved unethically um but i i do think and and i want people to be clear here it's definitely still a beta product uh do you know don't store large amounts especially on a phone wallet um you know i i think like the best i i think number one rule of thumb is you should be using multiple wallets but i really i really like the cold card plus specter plus bitcoin core setup and i think you can level that up with multi-sig and as i said on this podcast um it's we're still a little bit off from that so don't go crazy you know play around with it learn but we're we're very very close to that reality uh i for the hexa team love them they're great almost fully indian team which we don't i don't think we see a lot of um i that that that

community is not as as big as you'd expect it to be at least you know i mean they're one of are they the biggest country in the world are they bigger than china i believe they're number two behind china but they're all english speaking right right which is it's it's pretty amazing so i think it's going to be a massive market for bitcoin and i think you know mobile wallets most people's only computer is their phone so um if we could have i want to see more mobile apps uh that that try and make best practices as easy as possible uh so like the the dream is to like have to have an app that both like the peter mccormick's of the world and then the us's of the world can use and be happy with right and if we can scale up for those different users that

would be the the dream the ux improves and actually china is number one in world population but india is way closer than i thought china according to google take this with a grain or census.gov uh currently has 1.1 billion 394 million 15,977 people living within its borders or that are chinese citizens is probably the better way to phrase that india is not too far behind only 68 or 67 million people less at 1 billion 326 million 93 247 indian citizens i always thought china had 2 billion they're very close um if you had important on your on your bingo card this week i've hit it twice already so make sure

you get that square I've been saying important that was the third time I've heard too needless to say they don't they don't give me equity for my pronunciations me neither I actually don't have

equity in anything not even not miners not a great American mining yes there I mean but I work for them I'm not advising yeah fair i'm up front i mean i look i i talk to these if i'm a bit like if if if someone's gonna put me as an advisor like i'm gonna like i'm gonna be up in your grill all the time and i'm

like probably a pretty fucking annoying advisor like he that's what you want i told them i told them i wanted tor as a default they're like fuck you matt like what like how are we supposed to do that performance wise i was like i don't know figure it out uh speaking of performance it'll be interesting to see if the 2500 s19 pros that riot blockchain bought uh and have had delivered will perform uh they haven't delivered yet right no they haven't delivered they're pre-orders yes they should be uh they should be yes i was wrong they're scheduled to be delivered in mid 2021 uh so riot announced again right it's a publicly traded company so I think they have to announce stuff like this, or at least it's public information that anybody can find.

They announced Tuesday that they paid $6.1 million for, again, 2500 S19 Pros. This should add about 2.3 exahashes to the Bitcoin network. Oh, excuse me. The total amount of hash rate that Riot will contribute to the Bitcoin network at that point will be 2.3 exahash per second, which uh to put that in context for you freaks that's about uh two-thirds the amount of hash rate that has contributed to the slush pool so it's a pretty significant mining operation there they'll have more than a percent of the overall hash rate i believe if it was factored in today obviously there'll be more people plugging in miners so you have to take that into consideration

but riot shout out to expanding your business i know they've had a tumultuous past but i've talked to um the board at riot in the past and i think they're they're actually building like a pretty legitimate mining business here in the united states um but again with that being said if you listen to my episode with leo zhang uh that dropped on tuesday uh we go into what's going on a bit main and the unreliability of the hardware they've been shipping so here's the hoping they can write the shit with the s19 pro uh for riot's sake i actually really don't have many good things to say about bitmain but you never want to see somebody buy something and it not work for them so hopefully the shipment of bitmain miners doesn't have a high failure rate

like a lot of recent shipments have had matt's just staring at the window no i mean uh riot was like kind of scammy in the beginning but it seems like they're trying to write their ship uh i know pierre has joined them as an advisor um and he's got a good head on his shoulders so hopefully they don't get completely fucked here but you know historically pre-ordering minors especially from bitmain has been um questionable idea yeah yeah to say the least we shall see and again i want to preface it like i've spoken to the the a couple of board members that ride they are trying to write the ship it was a little weird that they uh transitioned from like a medical uh med tech investment company

to a bitcoin they were like they own it right yeah they did yes they do own it um you have to in that regard uh but yeah trying to write the ship try to build a legitimate mining business here in the united states and we shall see what happens what uh what i'm most interested to see is if bitmain delivers on time um on top of the the failure rate of that batch uh next year this pretty pretty big development the second time we've had uh some of the stolen coins from the Bitfinex hack, what was that, 2016? Moved this year, 26 million. Bitfinex.

Bitfinex, yeah. That was stolen. Has moved today. Whale Alerts alerted the market to that. I believe it was something like eight transactions. Yeah. Whale Alert caught it. Yeah.

That's what I said, right? Maybe. This is the 2016 hack? Yeah. Yeah, they got around 120,000 Bitcoins, which is insane. Bitfinex Hot Wallet got hacked, if I remember correctly. So what are these? So they're just moving them into wallets?

So you think they're coin-joining these? If you're moving that much money to coin-join, that's probably not the best way. Bitfinex hacker, probably want to do it in smaller chunks so you don't pollute your... Yeah, I don't really know what the hell's going on here. I mean, they haven't moved it to exchanges or anything. Yeah.

uh maybe they're just testing the waters seeing what's up you know yeah yeah a few freaks are wearing around that's pretty big news it was pretty i made the price dump pretty significantly i just realized oh that was like a massive that was like almost all of their coin like it was like 130 000 coins or something ridiculous wasn't it yeah and i'm pretty it was less it was less uh it was 2016 so we weren't even over a thousand dollars yet oh yeah um so yeah that saga i forget how they oh yeah that's when the bitfinex token that's what spurred tether right spurred spurred tether too right that's one thing that we didn't mention uh last week with the whole bitmex thing is one thing bitmex does have going for it is it's pretty amazing that tether and bitfinex has

been able to stand up to us government regulators this whole time and and bitmex is almost more insulated because they have zero ties to banking system um and and and on that note we did miss one topic here is that bitmex has been changed they changed their leadership today uh presumably to help fight you know these charges from the cftc better uh their founders stepped down and new people stepped up to run the day-to-day yes yeah so arthur hayes and um samuel reed arthur the ceo samuel the cto stepped down uh vivian koo i'm sorry if i'm mispronouncing your name it's not even vivian it's vivian again marty's pronunciations here how would you pronounce that vivian vivian maybe it is vivian vivian koo who was the chief operating officer at 100x group

which is one of their subsidy areas, is becoming an interim CEO. Yeah, it's Vivian. She joined the company in March 2019, and she was the managing director in Asia-Pacific compliance for Goldman Sachs, so she's got a pretty robust resume there. Ben Radcliffe is enhancing his responsibility for client relationship, handling and oversight of financial products. he joined earlier this year he's got a 20-year background with trading technology at deutsche

bank ubs and tower research capital so we have a bit of a reshuffling there again i'm a fan of bitmex and the product they built and the fact that they stayed true to bitcoin's ethos and we're very good stewards particularly of how they interacted with the chain how they interacted with their customers up until the U.S. government sort of reached in and they provide incredible technical content, incredible commentary, and they also support developers

in the Bitcoin ecosystem with grants. So I'm a fan of BitMEX. I hope they get through this, not unscathed. Obviously, that doesn't seem like that's going to happen, but the least amount of damage is possible. yeah it should be interesting uh to watch it all play out yeah speaking of sponsorships this is pretty cool i didn't see this until you posted in the list mempool.space sponsorships what's going on here so this is fun uh we love mempool.space here i use it pretty much every day uh it allows

you to view a picture of of their mempool everyone has their own mempool but an idea of what the fees are in a very easy to understand way um our good friend wiz is is one of the maintainers uh we've had him on the pod if you haven't listened to that episode you should go back and listen to it that was actually mostly focused on bisque i think um but we did talk about mempool a little bit anyway they added this new sponsor ability where you could if you donate uh 0.01 bitcoin um oh my god if you donated a million sats uh blasphemy shame i brought shame on my family um if you donate a million sats then you could be displayed as a sponsor on the page and i think that's like a cool way of supporting open source projects like it'd be cool if all of our favorite bitcoin open

source projects offer this and it's it's completely automated uh you just click to become a sponsor at mempool.space slash about um you put in your twitter handle if you want to be credited for it otherwise you don't have to be and once you pay it just pops your picture up there i'm gonna do it i'm gonna do it right now cool little social reward mechanism and right now we have we have we have eight eight sponsors already up there marty's about to be make it about to be the ninth let me see so i think that's pretty cool i'd like to see more more doing that we we have you know the the idea of like the social feedback that you're displayed uh usually brings in more donations so i i the mempool.space is completely open source project

you can actually run it on your own node which i do as well which is awesome um you can connect to it through tor which is you know is a very nice benefit for privacy uh but uh because it's open source you can put in that sponsorship mechanism that they have into into your project as well so that's i think a really cool idea boom i'm up there are you up there yeah there we go there he is boss that's pretty cool right yeah that's the beauty of bitcoin that happened jeez when did I start that transaction we're going into my mobile wallet like less than 45 seconds ago

I'm on a fucking website I wonder if they remove you if you double spend because they add you that's a good point I'm not going to double spend on you guys though thank you for your contribution yeah we appreciate you yeah I said we were done with news

that makes us angry but non-Bitcoin news related news that makes us angry classrooms are starting to surveil their students under the guise they're going to fight covid so a story came out in the markup.org haven't heard of this till you brought it up it's pretty infuriating the tour twitter account brought it up and that's how i saw it yeah yeah so there's a school district in georgia with 24 schools that reopened its classrooms and included a a a new surveillance technology equipped with thermal imaging and the cameras are made by

hick vision which is a chinese provider of facial recognition tools and other surveillance equipment so you have school districts in america using the coronavirus as an excuse to buy surveillance technology to surveil your children to check their thermal heat images and watch them as they go around being children and trying to hinder their ability to do that. It's pretty fucked. Yeah, this is why, like, I, you know, it's happening all around us.

We've never been in this situation before, this kind of Orwellian surveillance society. And it's through this partnership. It's this corporate surveillance partnership with with government surveillance and the problem is is on the corporate side there's even less protections than on the government side and it's just being leveraged by tons of bad actors and i'm not willing to stand by like i we we can't let this happen like i'm not cool with this mentality that that some big corners have where like it's or just people in general have where

it's just it is what it is privacy is dead and we're fucked you know like that i can't can't live that way like that's not that's not the way i plan to live my life and we need to push back here because if we don't push back who the fuck is going to push back yeah and don't fucking partner with the chinese surveillance company it's definitely sending that data back to the ccp like what the fuck like are you kidding me and anyone else who hacks their system yes and think about you're sending again that's public school system you're sending your school you're school you're sending your children to prison basically public school system in america is pretty pretty fucking terrible these days and uh not only is it a metaphorical jail

that jails your mind and the the exploration of creativity while you're a young child but it's now becoming more of an actual prison with surveillance that will separate your children if they have a fever and label them as outcast that need to be quarantined we found a cure to covet trump said it today he called it a cure we can't be afraid of this shit anymore what was the cure that he found the medicine he took whatever i suppose he was like he took like two million dollars worth of medication really interesting because he like took some like experimental synthetic antibodies or something what a saga that was so that started what late thursday night and a friday morning after we recorded last week and people thought he was gonna die and he was

out in like three days he went on the white house balcony took his mask off and all all the blue check marks on twitter freaked the fuck out ah i'm so tired of this shit noise is right um i i did like the message like you can't be afraid of this anymore like you can't live your life in fear from this disease like i mean i just think i think that's in general like you shouldn't live your life in fear like people are soft dude i wasn't not just that that's the thing that's what there's bitcoiners are too cocky about so much shit like we we watched the the whole economy gets shut down and no one do shit globally you know it's surveillance measures get increased like and everyone just goes along with it so this idea this idea that

significant damage can't be done to bitcoin and bitcoiners um by governments around the world is uh you know a false sense of security like we see how easily and quickly this shit can change yeah and again what is the simplest thing you can do to push back against this speak up don't sit there complacently sitting there silent just complicitly allowing the stuff to happen think of the future you want for your children your grandchildren yourself god stop being a cock and if you're listening to this podcast i i i bet you're part of the code your your people will speak up um advise others to speak up it's crazy man like i was in philly last weekend in one particular neighborhood and everybody was wearing masks walking outside it was like a

beautiful fall day and people were like myself and my wife weren't wearing masks we were getting like scowled at it was like what the people are completely brainwashed like that's what i'm saying you think like uh just using bitcoin won't be a suspicious activity speak up freaks you got anything else matt yeah uh there was a little bit of noise there but talking about some signal our fellow bitcoin podcasters had uh there was two podcasts that i'd like to point out um stefan had godfrey bloom on what a legend um yeah who honestly like that guy like i just sounded like a boomer version of me i it was like pretty crazy to hear you know for someone to say like we've never been in this situation before um and that like politicians have

no idea what they're doing or whatever but being of his age instead of our age and being a politician refreshing right like yeah is he ex-politician well yeah like he well he's like famous among bitcoiners uh outside of his announcement that he's getting into bitcoin last week because like he's oh he's that video yeah he's the video like in european parliament yeah yeah like just i didn't put two and two together yeah okay okay okay no wonder no wonder no wonder so he's been making around anyway that's a great episode everyone should go listen to that stefan lavera and then our boy gladstein was on um what bitcoin did with peter mccormick um and he was talking about how bitcoin is helping protesters in belarus and i think it's just really important for people to

realize um like we bitcoin is helpful like one of the the major benefits of improving bitcoin privacy guarantees is is is is that it's helpful to people in need right which is something we talk about so much in the bitcoin world um and we have you know we have to be very careful because these surveillance tools these things we normalize they end up getting abused by authoritarians and dictators in this case um lukashenko and and and if if if we if we just stand by then these authoritarians are going to come in and they just cut off their detractors from the financial system they track all of their purchases it's a it's like amazingly intimate the things you can tell about a person if you know all of their financial transactions

and it's it's super imperative for freedom that we push back on this shit i agree um and with that being said you bringing up belarus uh sparked the fact that the uh i guess it's a full-blown war now between armenia and azerbaijan is going on um i'm gonna raise my hand here admittedly a bit of an ignorant american with this situation i just know it's pretty hairy um seems like you have stronger nations backing um i think turkey's backing azerbaijan to an extent it seems to be a proxy war for some minerals uh and it's just never fun when when wars break out so any armenian or azerbaijani um azari i believe is the correct term there uh freaks out there feel for you if you're caught in the middle of this

uh yeah i think turkey is backing azerbaijan and yeah well russia's backing armenia iraq russia russia yeah makes sense i mean um but i i'm like i also will raise my hand i'm not you know um that well versed on it i will say one thing it is sad and alarming how none of this ever you know none of this is really getting spoken about yeah yeah so even though we're ignorant on this subject just thought uh it's important to bring up that it is going on and i actually am going to make an effort to learn more about it over the weekend my basic understanding here is that the azerbaijani's azeris azerbaijan is is the aggressor here and and they appear to be objectively in the wrong but yes like i said i have not been paying attention that's the way i

understand it as well it seems to be over some uh some energy sources which is a shame one interesting thing is how like twitter is being leveraged and how social media is being leveraged like the official azerbaijan and armenia accounts are like tweeting out like kill shot videos of like taking out tanks and stuff like live that's crazy which i don't think i've ever seen anything like that before or very little of from the official government accounts it's one thing if like you know like the syrian civil war was happening we had all the reddits you know where they were where they were categorizing and stuff but to actually see it from the official twitter accounts in real time is is it's pretty crazy surreal right welcome to the digital age freaks

that was a good rip mixture of good and bad news I think important topics were covered important nuance was discussed when are you coming back from your travels are we just gonna we just agree with all the freaks that are just gonna bend the knee

send all of our bitcoin to KYC exchanges and just custody it with them and just call it quits you know it was a good run you know pack it up we're done here. It was a nice try. Yeah.

But we failed. Yeah, humanity's just doomed for digital panopticon for the rest of the time. All your transactions traced, tracked, immediately taxed, prohibited from being sent. Enjoy it. Ask your local politician for permission

before you buy anything or travel anywhere. Yeah. Have a kid. You know what the pods... Or you send the kid to school. the pods aren't that bad man neither are the bugs i hear they taste like chicken love your pod love your bugs love your chip the chip is there for your protection but to answer your question uh i i do need to go back home i'm gonna move my stuff into storage

and then i'm gonna hit the road again so but i did get a i got a nice new travel mic uh so we'll be good we'll have nice audio quality and it's it's really fucking it it goes it doesn't go we don't state it enough it's really fucking cool that all we need is a laptop and a mic and we can broadcast to the entire world on an open platform this rss feed podcast system you know where like anyone can listen on any app they want or no app they can just listen in a browser like that's really fucking cool and powerful and uh i love you all you freaks another so that's a benefit of the digital age fight for this open maybe one day if we don't fight for this stuff matt and i will not be allowed to communicate with each other we'll only be we'll only be able to do

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