TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Week of 2020.10.12

Episode Date: October 16, 2020

This week Marty and Matt discuss: - LND vulnerability - DOJ launches global push to ban end to end encryption - OKEx suspends withdrawals - Taproot merged into Bitcoin Core - BitMEX cofounder released on $5M bond - BitMEX hires new compliance officer - Indian exchanges working together to provide stricter KYC/AML compliance - Spain potential law forcing full disclosure of bitcoin holdings - Unchained adds coldcard support - myNode v0.2.17 - Nodl v0.1.1f - RTL v0.9.1-beta - Eclair v0.4.2 - JoinMarket v0.7.1 - Trezor Suite Public Beta - Electrum v4.0.4 - Stone Ridge $115M bitcoin investment - Rodolfo the domain hodler - Fidelity recommends 5% position in bitcoin - Fidelity privacy panel with Matt - Marathon announces new 105 Megawatt bitcoin mining op - BitMEX on the risks of brain wallets - lnresearch data - MuSig2 paper - WORDS September Bitcoin Journal

what's up freaks a day late but better late than never matt how you doing my fault my fault had a nine hour drive yesterday so how was that nine hour drive i gave marty two options i said we could record on wednesday or we could record today and we did a great rip on wednesday when are we releasing that on monday i plan on releasing it tomorrow morning actually tomorrow we did that with uh adam uh who's the lead maintainer of coin os um so that's a fun rip fun rip you guys are gonna learn a lot about liquid adam's been building that for much longer than i than i realized no idea it wasn't on my radar at all yeah um really cool bitcoiner yeah nine hour drive yesterday uh words to the wise to the freaks do not speed in virginia

oh do you uh bad state to speed in do you brush elbows with the state police in virginia maybe a little bit oh you know if you go if you go over 85 miles an hour in virginia it's a reckless driving automatically reckless driving so do you have to go to court if you if if you get a reckless drive if you get over 85 you have to go to court i think it could be like a max of like 2500 misdemeanor $2,500 fine yeah when I was a young asshole at 16 I was driving to a lacrosse tournament at Rutgers and I got caught going 90 in a 65 that was not fun I had to go to court for that not in Virginia though in in Jersey in New Jersey yeah don't recommend in Jersey either though yeah I thought Jersey was bad Virginia is way worse but anyway I uh

yeah i mean i i didn't get that ticket so well you're here now words to wise how did you pass the time a lot of podcast music uh conversation with your significant other i i had my lady listen to uh the godfrey episode on uh stefan i still have that on my queue uh oh my god i hear it's my second time it was my second time listening to it but i was like you gotta listen to this so we listen to that but yeah a lot of music us um we've got a long list today a lot going on yesterday was a crazy day crazy week getting closer to an election if you freaks couldn't tell um but we got a lot of bitcoin stuff to focus on so let's just hop into clark's dashboard right away the current price of bitcoin is eleven thousand three hundred twenty four dollars

one dollar is going to buy you eight thousand eight hundred thirty one sats uh you can currently buy 275 barrels of oil with one bitcoin for 5.9 ounces of gold uh we're at 1.7 percent of the gold total market cap uh that is bitcoin not matt and i maybe one day we'll get there buddy uh the uh we have a we're gonna have a difficulty readjustment sometime tomorrow we're 163 blocks away right now that's estimated to be an upwards adjustment of 2.9 percent i sure it's at all-time highs right now right believe so let's check uh sorry clark we're gonna we're gonna leave your dashboard and go to one of my new favorite bookmarks which is bitcoin.sipa.be yeah sipa's page is great yeah and it's above 140 probably around 150 for all for all intents and purposes

it's it's uh it's been like all-time highs just keep break keeps breaking all-time highs yes um a lot of hash rate coming on the network more efficient hardware coming to the market uh i guess wiser miners there's a lot of people plugging machines here uh in north america and the fundamentals around bitcoin are also very strong outside of mining so tingle in the air we've had a we've had a bit of a um uh a little price pump here the last week particularly over 11 000 uh broke out that ten thousand dollar range and we've been hovering pretty strong above 11k do you have any price talk to add to this matthew but it just it seems the price action seems strong uh uh it's good when you see these like

flat areas and then like a just like a solid upward movement that's not you know like these big hills and valleys yeah and like with the all-time high uh hash rate uh but the freaks know i'm always bullish so take it with a grain of salt last time i got really bullish we we dumped so yeah never forget the uh the market buy of 2019 well last time i brought that up i was like i there's a tweet from like a month ago or two months ago i was like we're like 500 away from that point and we dumped right after i tweeted that i fucking i jinxed us into a dump all right so we still haven't hit that point we still haven't gotten to that point where i said the market by we're close it's it's about 8 000 sats per dollar what are we at right now like 8 700

right around there yes so that's what i'm watching for me personally the number is 8 000 sats per dollar because then i could tell the freaks just to sell everything and i could have no guilty conscious on my head praying that we get to that point soon just so your conscious can be cleared bitcoin goes to zero uh hey you freaks can still get your one sap per bite fees in uh actually if probably the last time ever probably the last time ever but if you're willing to wait a day you can send a one sat per byte transaction

immediate next block and one hour estimates are both at 62 sats per byte or you can use liquid and send it for .1 sat per byte ooh ooh Matt you'll hear it tomorrow's episode maybe a big liquid

bull right now speaking of liquid there are currently 2,600 uh 0.79 bitcoin pegged into the liquid side chain right now capacity value is around 30 million dollars whoo again fundamentals are strong was whirlpool at unspent capacity whirlpool is at uh 1646.4 or excuse me 59 bitcoin it's pretty flat from last week i believe we're moving up we breached 1700 for a little bit back down uh i forgot to mention we are block height 653 000 and 22 88.19 of all bitcoin have been issued that will ever exist have been issued

to the network pretty pretty crazy that number will never go down no it will not uh big list today as we mentioned before we get into it just got to get out of the way uh this episode of rabbit hole recap is brought to you by our good friends at unchained capital you freaks already know out but all about them we actually got news to talk about them again this week i love when they have news we can work into the ad read uh cold card when cold card question has been answered now you can go uh use cold card with uh unchained multi-sig quorums about damn time it's about damn time we've been asking the question for quite some time so if you want to set up a multi-sig vault with a cold card that is now possible on unchained on on top of that if you want to go

from zero to a multi-sig vault with your hand being held along the way with the white glove concierge surface concierge unchained capital is offering that so they will do many video calls with you to answer your questions about multi-sig to get you comfortable with the product suite with the vaults particularly uh it's a 1500 package if you tell them that tftc sent you you're going to get 50 off but that package includes uh again video conference calls with the unchained capital team to explain what multisig is and to answer any questions you may have on top of that they're going to send you hardware wallets if you need them now cold card i believe they have a 10 off deal for cold card this week um on their website so we're going to link to that

as well but uh the concierge service will uh get you going from zero to multi-sig so you get the hardware wallets and you'll set up the quorum uh and they will put one thousand dollars in your vault so go to www.unchained-capital.com check out their product suite we're going to link particularly to the concierge service in the show notes again tell them that marty matt sent you uh this episode of rabbit hole recap is also brought to you by our good friends at the motherfucking cash app you guys already know all about them i hope you stack sets send sets sell sets and receive sets we're saying set set set set sets because sets are the standard all right we're not buying fractions of bitcoins we're buying whole sets right now one dollar

will get you around 8800 sets a little bit more it's a good bargain if you ask me on top of that if you're in the slivers of stonks you can do that via cash app investing on the cash app if your favorite stock's a little too expensive you can buy as little as one dollar because all this is connected to your bank account there's no four to five day waiting periods you can start investing today and stacking stats today make sure you use the code stacking sats when you download the app for the first time if you haven't already you're going to get ten dollars and ten dollars going to go to our good friends at al's lacrosse that's al's lacrosse Go download the cash app.

Strong hoots for the freaks this week. Strong week, Matt. Should we start out with BipTapRoot? Well, just interesting thing about that cold card integration, which we've been looking forward to for a while from the Unchained Cap team, is they chose to go air-gapped only, which is you can't use the USB mode on the cold card. You can only use it in air-gapped mode, which is an interesting design choice.

Yeah, I mean, that's the only way I use my cold card anyway, so yeah, I kind of dig that. Can't speak for the team, but maybe that's with the laid cold card, going over that UX trade-off. I don't know. I'm not going to give them an out. Took long enough, guys. Glad it's there. uh big week what should we start on should we we can start with taproot that's bullish i mean i i we really should just before we get there let's talk about the lnd vulnerability that we know absolutely nothing about that was dropped right after rhr last week yeah i think that's a good first topic just because we like to front load vulnerabilities we're going to find out what

that vulnerability is in four days um before then you should you should you know the smart move is to update uh to the most recent version i think it's uh 0.11.1 i believe um and all the major node packages uh have released updates if they didn't already if they weren't already up to that to that um version of lnd and that is only lnd supposedly and once again we have no idea what the vulnerability is but it doesn't sound good no i mean if you can't have your node running on any version before 0.10 it seems like it's a well i think 0.10 is vulnerable too yes 0.10 and before so literally every version except the current version yes make sure you're upgraded to the latest version uh i upgraded my node yesterday yeah sorry our tftc node should be upgraded as

well yeah i hope so and and and keep in mind here that there's multiple lightning implementations So, you know, you have C Lightning, you have Electrum's Lightning implementation, there's Rust Lightning, but L&D is by far, and you have Eclair from Async, but L&D is by far dominating on the network. I think it's like 75% or something of nodes on the network are L&D. Yeah, that number wouldn't surprise me. It's pretty high, so not great. yes so be aware freaks if you're running lnd update make sure you're updated speaking of updated like i mentioned earlier bit 340 bit 341 and bit 342 also known as the bit taproot proposals have been merged into bitcoin core this is a big step

towards getting it activated it's not activated yet uh now we're at the point where the network has to decide whether or not it wants to activate and use these upgrades. Again, Schnorr signatures would change the way that they control private-public key origination, don't they, too? What do you mean by that? They help you create your private-public key pair.

Yeah, instead of ECDSA. Yeah, instead of ECDSA, yeah. And this would, I mean, we've talked about Schnorr plenty of times on this podcast. It was patented when Satoshi first launched a Bitcoin network, so it couldn't be used. The patent has expired within the last 11 years, last 12 years, and people believe that it is a more efficient, better way. It gives you massive efficiency gains. Yes, you can combine things, it makes multi-sig. With cross-sig aggregation, which will not be here yet,

but potentially in the future, it destroys the heuristics used by chain surveillance companies. Massive. So that taproot, which is another massive upgrade, which should make Bitcoin more extendable, what you can do with UTXO. They're mostly a setup upgrade. It's mostly a setup upgrade,

except it does have an immediate result of making multi-sig cheaper. um and uh bitcoin magazine just had a really good uh video they did video talk on it that was like an hour and a half so go check that out on their youtube page it's aaron van weirdom our boy ck andrew polstra chris belcher and chris belcher yeah um yeah and uh and just keep in mind like the i wouldn't say this is like the easy part but um we still have like the heart the i would say the hardest part not to diminish all the work that's been done i appreciate everyone who's put in so much work and review into the proposal and getting it merged um but now is actually you know when we we have to like figure out how it's going to actually be upgraded and

included into the network yeah so there's two there's two main activation paths right now are popular i guess is the way to say bit bait and matt corallo who proposed a uh a new form of a user actor excuse me uh a new form of a of a soft fork uh that has like a longer signaling period and then if uh if the signaling doesn't work you have a six month period of discussion and then you uh you start signaling again for a longer period of time i believe where BIP-8 is a little bit more straightforward, I believe. One is it starts with minor signaling, I believe, and then it goes to, if that doesn't happen,

then you have like a flag day, which is like what UASF was. Yes. But I guess in Corallo's proposal, it's all like combined into one. And it's a really, really long time frame. it's like three years or something like that yeah i think the longest it could take is three years i believe the shortest is 12 months you know hopefully we just have minor signaling and there's no controversy and you're good uh but we'll see i didn't you know don't get your hopes up yeah what's interesting is our boy fiat jeff um don't know if i pronounced that whatever i

he's our boy and he uh i feel like every time i have something that i like wish existed like he has already built it like he just quietly builds awesome projects in the background and he has like a prediction market set up for it already that uses lightning oh well um this is funny like he could have named it better to be honest uh it's on his at etilenium platform e-t-l-e-n-e-u-m.com platform predictions dot that dot com um and that's supposed to be obvious i mean if if you can tell from the sound it's like a take on ethereum right and like the idea is that you don't need you don't need uh like a distributed consensus chain to build these things you can just build it centralized and he

basically just built it centralized and you know you have there obviously is trust in him to use it but because of that you get like massive efficiency gains because it's super centralized um that's pretty cool competing with auger yeah i mean it's just it's a very simple nice prediction platform that's uh it's pretty cool well this uh this is funny that you bring this up particularly because one of the shout shout outs this week mentions this specifically um so i'm this prediction yeah i wonder if it's not the platform but the particular prediction you're talking about uh will there be a signaling mechanism for the taproot software deployed before the end of 2020 uh here it is i need help i'm reaching out to all the freaks i'm really hoping

someone will set up a betting pool for guessing when taproot is going to be activated i can guarantee i can guarantee i'll bet five million sats that it will be activated i guess by march 23rd maybe the payout could be based off of some bell curve distribution of the dates guessed and where your guest lies on it versus how close you were to the actual activation date or something like math game theory work question mark teach me why not i have no idea uh how this prediction market would be created so what's interesting here about his is that it's will there be it's not whether or not it gets activated his is saying will there be a signaling mechanism chosen before the end of 2020 so so so what he

what his market is is is deciding is basically what's happening is all the developers have pts sd um and most of the stakeholders do from how how controversial segwit was right so everyone see everyone seems to be really scared about putting their neck on the line and deciding which signaling mechanism to choose and that's the first step right the first step is we have to at least have a signaling mechanism before we can even see if it gets signaled yeah and i think matt's proposal for activation is probably a product of that that scarring from segwit 2x that you mentioned yeah but i think part of the issue is like you're just asking for trouble you know we got to have a little bit of confidence here you can't uh right if you're like if you're

bringing in controversy by just expecting it i don't know we'll see i think the quicker that we i think the quicker this activation path is decided and people start signaling uh the better i think i don't think it gets i don't think it gets activated before the end of 2021 i'll take the under on that okay we'll see we'll see um you want to put actual money on it we can uh yes but let's put a million sats down somewhere a million sats why don't we donate to hrfs the loser has to donate to hrfs uh dev fund i like that uh okay a million sats 2021 yes set your reminders for december 31st to be activated yes oh well damn now i'm like questioning like we have to like have tappert and schnor

like it's live you know what let's wield this into existence yes million sats loser to human rights foundation there we go mark your calendars december 31st 2021 remind us freaks yes go into your phones go into december 31st 2021 and say, is Taproot here? If not, Marty, one mil to HRF. If yes, Matt, one mil to HRF. Either way, HRF gets the million sets. Yes.

Should we just rip through the rest of the shout-outs? They're great shout-outs this week. Yeah, let's go to the shout-outs. The following is a test of the Bitcoin broadcast system. Important information will follow this tone. penis thank you for your attention this was a test of the bitcoin broadcast system love dirt bags dirt bags cheers that was great put a smile on my face gentlemen i love this shout out very uh very excited to read this shout out and share this

news with you freaks gentlemen i come to you with extremely bullish news much more bullish than even the micro strategy news in my honest opinion my wife and i are expecting our second child this marks yet another new citizen of the world that will never have known a time when bitcoin did not exist as with my three-year-old daughter i will do my best to raise them both as kind-hearted low-time preference individuals one last thing in true bitcoin or fashion we've managed to time our children with the halving cycle our daughter was born mid-poll during the last bitcoin epoch here's hoping the next kiddo brings along the same good fortune uh btc sessions procreation model is greater than the stock to flow model from our boy ben at btc sessions congratulations

ben oh congratulations uh very excited for you and your wife your family uh your daughter it's uh that's way more bullish than micro strategy right not even fucking close if the trend continues within the cessage family uh to have a child and then incite a bull market i'm going to root for for the sessions family seriously though congratulations man that's awesome yeah that's way more bullish yes uh you'll like this one matthew average folks always underestimate the importance of privacy they have a hard time grasping why it's important this is because it's intangible when you lose your privacy you don't see a physical thing being taken away from you but the targeting that results from the loss of privacy leads to mind control plain and simple

when you lazily accept the that loss of privacy is inevitable no big deal or argue that you have nothing to hide you give up personal agency you succumb to mind control you become a cuck totally subservient to the elite powers that rig the system your ancestors are rolling in their graves man the fuck up and stop giving yourself away for the ability to like gifs and make dance videos it's embarrassing privacy is freedom i know the freaks believe in freedom but do you in closing stay humble stack sats and keep your tits in a barrel freaks love it 100 yes there's there's no freedom without privacy agreed from an anonymous freak those are freak those were the shout outs of the week thank you freaks uh appreciate you all

for asking questions announcing births riling up the troops to protect and preserve and value their privacy quality quality shout outs this week yeah i mean it's a perfect time to bring up that uh our department of justice is spearheading a global effort to uh ban end-to-end encryption the war on encryption has has not ended yet it has been a constant battle and it will be a constant battle for a long time coming how two-faced was that release it always is this is always what they do you know and and it's it's important for people to realize that this is a ban on end-to-end encryption it's an attempted ban um even though they won't say as much because if you have a centralized backdoor that backdoor will never be secure so in effect what it does

is criminalizes workable end-to-end encryption um and and the the real fear here is this doesn't stop criminals from using it like end-to-end encryption is available as free open source software criminals are enemies they're still going to use this software um it it just hurts law-abiding citizens it just hurts honest people because their products their general products their access to these to these encryption tools will be extremely limited and if they do use them they're going to be de facto criminals they get criminalized yes there's no such thing as a back yeah i mean a backdoor encryption can't be backdoored it's literally math if there is a backdoor there's something weird going on well i mean i mean it could be backdoored it's yeah

exactly it's not secure yeah it's not secure and we we can't trust these we can't trust these companies we can't trust our government with protecting this information they will get compromised eventually and it makes us extremely vulnerable like our our it's it amazes me because it's very similar to the the gun debate and it's interesting how people fall on different sides of that whether you'd think that people that were you know that that understand uh that criminals can still get guns um would feel the same way about encryption and vice versa but a lot of times that's not the case no it's very interesting and anyway so this is a is it was what's even scarier about something like this is a global push so it's the five ice countries um which is

u.s uk uh canada new zealand and australia plus japan and one other country um but anyway there's this global push to try and to try and ban encryption and we need to push back on it india um india yeah so it's it's very scary this is uh it you know i think it kind of went below the radar like uh it's not being discussed enough it got caught up in the uh trump takes his mask off news cycle it makes us it makes us extremely vulnerable uh it'll make us extremely vulnerable if you're a patriot um then you should not support this if you're pro-individual you should not support this if you're pro-freedom you should not support this like pretty much no one should be supporting this agreed it's william barr bill barr pushing this stuff

i believe he's made an attempt like this in the past correct even before he was in the trump administration i mean yeah i look the war on encryption is a long you know it used to be treated as munitions back in the day and you couldn't export it uh yes and so yeah well with this thought in mind i don't know if we have it on the list but i recommend you freaks go check out the series on reason.com of the history of the cypherpunks in the context of what matt was just discussing there i think it's important to know the history of the technologies that came before bitcoin and built the building blocks that led to bitcoin and and the uh the wars that the builders of the technology went through particularly uh the pgp wars of the 90s against the

the u.s supreme court and they actually wound up wanting got code deemed as speech um but it seems that uh this battle is not over yet as matt has been describing well here's the thing right like they might not ban uh like pgp encryption they might they might not success you know and it's hard to enforce right um open source software is extremely hard to clamp down on it's going to spread they're not going to be able to stop it so that's that's a plus the plus is that it's going to be extremely difficult to enforce and not if not impossible they'll try and make examples of people um what they can do is you know things like signal uh iMessage um these you know zoom's talking about adding encryption into their product line like these things where it creates

end-to-end encryption is like the default that people are able to use in these very accessible products those are going to get removed right or they'll have back doors on them that make them insecure um and another thing here to keep in mind is this is why open source software is so important because you know uh apple can say that iMessage is encrypted but if we can't inspect the code then they could just put a back door in there we wouldn't even know what was going on you have to trust them in that situation so encryption isn't secure if it has a back door and encryption isn't secure really if it's if it's not open source and you can't actually view the code and audit it yes um very dangerous precedent here it's very it's very very um

it's it's not a good thing to see so like we say speak up this battle has been one in the past it seems that there is another right in front of us now it's time to sack up push back and and fight for technology that honestly they're not going to be able to stop it at the end of the day they're just wasting time and resources so hopefully it's not like alcohol prohibition where everything still went on you just push people to be criminals uh but with that being said it's coming from both sides right like we have the attempts to be able to spy on you within these apps and then the other side of it is is not even allowing you to do certain actions which is censoring and so i think it's important to know that yesterday it sort of went under the radar as

well but it was actually poetically under the radar as the twitter censorship drama was unfolding the fact that twitter censored people from sharing a particular article from the new york post yesterday afternoon there was a hearing at the house intelligence community in during which a few individuals were arguing that the government should have more oversight over the internet and the ability to censor certain groups with certain ideas like qa non and quote-unquote white supremacist and other groups, boogeymen like that, as the Twitter drama was unfolding.

And that's something that went under the radar. I think you freaks should check out as well the YouTube video because it's pretty scary what they're talking about and how they're justifying their arguments to the government to censor more online. Well, that's why these tools, you know, we're going towards this is why i call the the constitution a shit coin right because i i don't think you can rely on laws to protect this speech i think you've got to rely on code i think i think

it needs these platforms need to be distributed they need to have encryption baked into them i think speech needs to be protected through technology right and and rather than debate you know who gets banned and who gets censored and who gets blocked like these platforms should just be built in ways that that can't happen in the first place that no one can do that that no one has the power to do that and you can still moderate them um you just have like moderator lists or something that you subscribe to um where you're like pat you know like you're similar to how muting works now on on something like twitter but where you're able to subscribe to like these mute lists so you don't see the content you don't want to see but you can choose to do it

and criminals can still be prosecuted you just do good good old-fashioned police work and i just want to say here that this is why i took an extremely hard line about being against the wechat tiktok ban okay because we cannot have the the executive branch of our government deciding which apps you can have on your phone and which apps you can't it's a slippery slope on both sides i don't i don't think this is i don't think people are you know people are constantly seem to be picking you know which situations piss them off based on whose views they agree with but it's coming from both angles and it's an extremely slippery slope that we got to be very very fucking careful about I completely agree it's no and you see again when you see the

justifications that are being made to do this too from fellow citizens it's like nauseating like Some people want to give this shit up. They're so afraid of the quote-unquote QAnons and extremist groups of the world online that they're willing to completely throw out the baby with the bathwater and destroy everybody's ability to speak freely, openly, explore crazy ideas if you want to. You can't nerf the world. You have to—it's very belittling, too, to assume that people are too stupid to discern for themselves what is real and what is not. It's very patronizing and paternalistic, which the state seems to be becoming more and more and more paternalistic.

And now they're getting into what you can talk about, which is pretty crazy, freaks. Again, frogs boiling water. It's insane. But we also see – okay, so that's on the left, right? You just brought up the left again with QAnon and that House committee meeting. But then on the right, you have people saying they want to change Section 230 to make it so that the government can regulate Twitter and choose how Twitter interacts with their platform, right? so it's fucking messy on both sides like they there there's like a very small diagram venn diagram there of people that are coming up with the right takes here they got we got to be very fucking careful like i do not want i do not want our fucking federal government deciding how these platforms are run no like that is not the solution no love them or hate them beauty on is a stick in everybody's ass but being like hey yeah if you want something better build something

better uh i do get the argument that the the investment that individuals put in the mind share and the network effect we talk about network effects bitcoin is a huge network effect these social media companies are sort of dictated by network effects too and the more people the more conversations the arguably better the product is but if you start censoring the framework or building a framework in which conversation can happen, what topics can be covered. It sort of depreciates

that network effect. If you're unhappy with Twitter, seek out alternatives. I started posting a couple posts to Gab yesterday to see what that's like. There's a small Bitcoin community over there. I was on Mastodon yesterday too, checking that out.

But if this stuff continues, I don't know if I'll be able to stay on Twitter. Look, Gab is using Gab is actually running their own Mastodon server but there was infighting there so they're actually blocked off from the majority of the Fediverse

but yeah they are using they're using that open source code that Mastodon uses yeah it's a fork weird times Shrieks weird times I think these things are just gonna you know hopefully we don't throw

the baby out with the bath water in the meantime but it's just going to take time you know for these for for more open platforms uh to to come around and and um start getting like some network effect and stuff platforms where you can't uh block people you can't censor people by design um i don't really think any of them are there yet though i don't think mastodon's there i don't think gab's a real solution i mean they've already been hypocrites and certain things that marty you agree with but um what's that they're like they're blocking porn on are they on gab yeah so it's like free speech for speech that i like only you know and i think um and then then you have other centralized you know options like parlors is out recently and and and it's just the same idea it's

just different masters you're choosing you're choosing different centralized masters that are going to choose what what goes on and what doesn't go on when really the ultimate solution is going to be more open platforms where you don't have that kind of censorship possibility to begin with but it's going to take time and it's yeah i i i kind of look at it the same way i look at the privacy issues like there's just going to have to be pain and people are going to have to learn slowly and the hard way on the bright side though like twitter like it completely blew up in their face i mean the article they tried to block on the new york post article got way more views because of what they did and yeah and then they had a they backtracked they you know jack's just

been uh uh doing damage control ever since then yeah it's a pretty weak response jack if you're listening can't imagine the stress of running twitter but you have to have a better response to that you can't just block links during three weeks before an election it's insane it's i can't wait for this election to be over well i've said from the beginning that the the mess that they ever got themselves in was trying to moderate the shit to begin with it should just be it's a slippery slope and the slippery slope is just getting slipperier and slipperier and now you're at a point you started with alex jones and now you can't fucking share an ny post link it's fucking insane there should have been there should be no algorithm it should just be a straight time

based feed and twitter should do zero moderation whatsoever and if you and you should be able to subscribe to moderation lists if you want to by outside moderators yes that's it well people super simple allow developers to leverage your api build those products exactly twitter becomes more of the protocol that twitter's already dead it's just not priced in yet unfortunately and to the people that say that jack is going to bring this over with you know cash apps our sponsor with square or whatever i think i two things first of all i think he has way more control over square than he does over twitter uh i think the amount of power that people think he has over twitter is greatly overstated like it's it's been taken over by the executive board and

whatnot um he doesn't have that much control of twitter and second of all like if he if he fucks with bitcoin like bitcoiners will just turn on him in a fucking heartbeat like you don't have to preemptively turn on him uh i mean if you want to go you know by all means do it uh but i'll turn on him you know if he turns on bitcoin if he starts attacking bitcoin if you look at someone like brian armstrong and coinbase you can see how much worse uh like the scenario could be like having square having a massive public company you know fighting for self-custody fighting the square crypto is funding great fucking projects over there um like it could be there's like no shit coins on on cash app like they it could be so much worse i i just yeah um i think they i think

at square they're fighting the good fight and it's easy to combine the two and say like twitter is fucking bullshit and and so so square is fucking bullshit but i they're wholly separate companies yes we know a few members of the cash app team and i think they uh they have good intentions bitcoin's best intention intentions in mind and yeah i would echo what matt said there i don't think jack has much granular control over what's going on at twitter as many people think but yeah i want to be more optimistic of twitter's future like i wish they would just like go back to before they started banning alex jones and milo just go back to that policy let everybody back on open up your api let people create those moderation lists that matt was

talking about and get back to get back to basics i've been waiting for that for too long now it just keeps getting worse and worse and worse actions speak louder than words um and i'll be consistent about that that's why i'm bearish on twitter but i i have no issues with square yet and square starts banning coin join usage and and you know stops funding open source development they're funding btc pay server you know like if they start making moves like that you know they start adding file coin and shit coin after shit coin after shit coin how about that dump dude then then you know then i'll fucking turn on them at that point but if the freaks want to turn on them now they can turn on them now i don't care you know i want the freaks to be independent

about it but that's my i just want them to know my thinking again fuck file coin the use case of Filecoin is just dumping on retail. How egregious was it? Like, one of the more egregious... Was that, like, $200 at one point? And VCs automatically... It got added to Coinbase? Or...

Gemini, at least. And, I think, Coinbase. And, yeah. And, I mean, I... It's on a bunch. FTX. Went from $200 to, like, $60. And the pre-sale was, like, 50 cents to, like, the insiders or something.

Yes. So, even at $60, they're up 120x. It's insane. fuck that shit we shouldn't i shouldn't even brought it up but it's infuriating yeah um and we have to give coinbase a shout out because i promise that any company that funds bitcoin development would get a shout out even if i hate them they're thinking about it i don't think they've done it yet have they yeah they haven't done it yet that's important marty that's a good point um and yeah brian armstrong can still go fuck himself so hey hey hey

i agree uh uh but it's good to see at least you know finally finally they're it looks like they're going to we'll see if it happens yes we shall see um relatively good news Samuel Reed, CTO of BitMEX, got out of jail on bond, $5 million bond. So he's no longer in the clinker. However, the court case, the charges that have been launched at BitMEX via the U.S. government, excuse me, they have a long battle ahead. still but sam they seized his passport yeah so he won't be traveling anytime soon outside the country

um so we're going to keep covering uh bitmex including the fact that they hired a new compliance officer this this week um from revolute bank revolute revolt i think it's revolute right is that how you pronounce it yeah i'm not sure they're european right i think so um yeah we mentioned this last week we read this news from bitmex's blog did we yeah we're looking at uh a block crypto no apologies rehash their blog um to our indian freak what was that i mean the big news today that's going down right now is okx seems to be in fucking oh yes a hot mess their withdrawals have been uh suspended and right

before we started recording like 35 million dollars worth of bitcoin got sent to binance so what's going on there supposedly their founders in custody yeah so they have a blog post out suspension of digital assets cryptocurrency withdrawals one of our private key holders is currently cooperating with the public security bureau and investigations where required we have been out of touch with the concerned private key holder as such the associated authorization cannot be completed so it seems like the ccp has arrested one of their executives who holds of private keys at least a story they're telling well i am nomad uh on twitter what og og was saying that um he did he posted a screenshot of their cold storage and they say their cold

storage is like set up you know if there's a kidnapping if there's all these different scenarios so he thinks they're full of shit because they're basically saying that like star zoo their founder is you know in custody and that's why they can't do with withdrawals and he says you know that's bullshit so what he thinks it is is uh you're like his guess is that they're they're working with the ccp for some reason and they they don't want to tell us the full truth really the one thing to keep in mind is that a lot of the plus token money went through okay coin yes or okay x i don't know they're the same right they're just no it's like i don't think they're the same isn't okay x just a like a branch of okay coin

maybe i'm not positive yeah i believe so i think okay x is like maybe they're global facing or the opposite yeah they have the same logo or similar logos it's weird very similar not the exact same one is like global facing and one is well anyway it seems that they're uh and they're based in Hong Kong based in Malta but their headquarters are in Hong Kong or

something to that effect so beware freaks if you have any UTXOs on OKEx and can't cut them off, let this be a lesson. I hope that you will eventually be able to withdraw those UTXOs. But while you're not able to, think long and hard about how much Bitcoin you have on

particular exchanges. On any exchanges, yes. And whether or not you would be more comfortable with that in self-custody. If you're not comfortable with self-custody, start reading up. Bitcoin demands extreme ownership, demands extreme research. Start

practicing. Practice makes perfect. indian exchanges are working together to provide stricter kyc aml compliance coindesk reported on this uh 20 of our indian freaks out there it seems that it's very volatile over in india with bitcoin exchanges i feel like the government banned and then it was unbanned now this yeah so in the seven months since india's top court allowed banks to legally service crypto platforms, users, and trade volumes of local exchanges have increased,

but regulators have been a little opaque on the rules, so it seems like they're coming out of nowhere and adding some KYC AML compliance stuff as well. It seems like they're sharing information, right? They're setting up an API between the different exchanges so they can automatically share information and then send it to the regulators. Yes.

So be aware. Any freaks listening in India, the government's coming for your information. And they probably know that you own Bitcoin if you're buying it on centralized exchanges. But I'd be interested to see what the breakdown of P2P exchanges and regulated exchanges, like P2P, like black market exchanges in India

since the exchanges were shut down. I imagine it's more they have a stronger P2P because there was a need, right? People realized. Yeah, exactly. Also, the Indian people in general, I mean, we discussed this briefly last week. You know, they value gold a lot. They have a very independent pension in general.

And the government is always constantly trying to, like, wrestle control over them. So I wouldn't be surprised if—and we saw that with the cash ban, where, like, a lot of Indians just had, like, large amounts of cash, like, under their mattress, essentially. So I wouldn't be surprised if the black market over there is—and the gray market. is is a lot stronger than in western countries at least percentage wise yeah i would be i would not be shocked at all if it's pretty robust you imagine if the exchanges were i mean you couldn't get it like if you wanted to get bitcoin you had to go that route yeah um and then also at the same time we have have spain um spain has a new bill on the books that they're that looks like it's

going to get get placed into effect that's going to require full disclosure of bitcoin holdings which i think is just going to become like pretty much the standard across most of the developed world uh at least for you know the near term so we'll see how all that plays out beware spanish freaks government wants to know how much bitcoin you own i guess the steps there if it's going to get forced upon you make sure you don't give up your addresses uh like for our taxes this year for tftc the business we had to report how much bitcoin we had or it was i mean you have to report income yeah it was on our balance sheet so yeah um tftc i mean i think ultimate in the beginning they're not going to ask for addresses but ultimately they're going to start asking for

addresses at some point ah fuck them like in canada we already saw them i think they were asking for addresses um yeah not great we'll see how this plays out speak up freak speak up every little speak up goes a long way uh we already mentioned this in the ad read at the beginning unchained added cold card support pretty dope long time coming as Matt said, air gap only for their support which requires a little bit more understanding of how the cold card works

particularly offline and how to use this SD card but well worth it to be able to diversify the hardware wallets that are used in the multi-sig quorums on Unchained helps diversify risk You want to rattle out our updates?

Rattle them out If you're running my node version 0.2.1 version 0.2.17 is now available uh and this is uh an upgrade they had a major ui update in this they upgraded dojo as well to version 1.8.0 uh and a couple other things spectre is up to date in there as well um noddle version 0.1.1f is uh is out in the wild now too if you're running a noddle um make sure you upgrade uh they're planning a bigger upgrade this weekend so be on the lookout for that um right now i think they pushed this update to upgrade lnd to version 0.11.1 and upgraded dojo upgraded dojo as well um

ride the lightning version 0.9.1 beta is has been released go update that if you're running ride the lightning eclair version 0.4.2 has been released by async major changes plugins third-party plugins are now able to add new feature bits to eclair and handle unknown custom messages this lets plugin developers offer services to their clients that are not available in the lightning specification support yes key send anchor outputs and they made some api changes as well so if you're running eclair make sure you go upgrade that to version 0.4.2 join market version 0.7.1 is now available um bip 78 pay join receiver has been implemented so before on join market you could send pay

joins you couldn't receive pay joins um for bip 78 which is the pay join compatibility one that's compatible with wasabi uh btc pay um and blue wallet yes um that's pretty big for usability and ability to get easier privacy by being able to receive a pay join uh treasure suite public beta has been released i tested it out earlier this week it's pretty cool it's pretty sleek but i was messaging with you i was hoping this desktop app was going to enabled me to connect to my full node not have to depend on treasure servers but that's not the case no full node support no coin control but you know hopefully one day they'll add it uh in the meantime you could use your treasure with specter and you get both of those things so

matt uh liquid bull and specter bull when we were talking about that you're way more bullish on specter than liquid you're like just get on specter dude yeah i just i'm just i'm a specter maximalist now yes specter plus bitcoin core makes a lot of sense makes a lot of sense uh electrum version 4.0.4 has been released i believe there was some it has like this auto rbf mode yes where you can like cancel it look it's really just rbf to yourself replaced by feed yourself they said double spend right yeah but it's it's your but in practice what you're doing is you're like canceling the transaction because you're just replacing the it by fee and sending it to yourself which is a

feature that blue wallet implemented first and then electron borrowed from there it's a great idea i mean from a ux point of view it makes a lot more sense to a person as a cancel transaction yes uh they fix something with ps their psbt implementation as well and this seems pretty big actually uh because i know unchained had this problem with ledger too uh they fixed the derivation path is unusual warnings i believe for multi-sig transactions the ledger device sends a weird little warning that scares people away i believe could be wrong that's all we got for updates there's a lot of updates that's good yeah um yep go on this is interesting news stone ridge uh announced 115 million dollar bitcoin investment

i believe it is an investment firm they had a bunch of analysts on the team that were bitcoin bulls just personally and had bitcoin in their personal accounts uh they would talk to their clients about this their client said hey we want exposure to build bit uh excuse me we want exposure to bitcoin and the team wound up building uh something i think it's ny dig or something like that which was a spin-off of the fund uh that specializes in custody of bitcoin and i believe ny dig yes uh new york digital investment group and i believe other cryptocurrencies as well but i believe they have a billion dollars aum 115 million or 10 billion aum and 115 million is uh in bitcoin so it's uh and i believe they've had this position for a while so they're they're

leaking it maybe getting fomo after seeing you said 10 billion right 10 billion aum 115 billion well that stone ridge is 10 billion and then new york dig has 115 million worth of bitcoin which is it was an existing investment i guess already yes so i guess they saw maybe they just raised it a little bit potentially i believe they uh saw michael saylor and jack announcing that they had bitcoin on their treasuries and said hey we've been doing this for a while learn about us uh speaking of bitcoin treasuries our good friend rodolfo slapped those bingo boards has created a site bitcoin treasuries.org and he is competing with our boy matt odell for the best domain He has a problem.

He has a domain addiction problem. I hope he gets it checked out. Yes. So if you're a publicly traded company or a private company and you want to get added to this list of companies with Bitcoin on their treasuries, you can do so at bitcointreasuries.org.

Altogether, there are 620,030 Bitcoin on the balance sheets of publicly traded companies private companies and etf like products yeah they're just cheating because the gbtc is holding a shit ton there yes barry barry he's going to keep buying those bitcoins he said so yeah he has it hosted on github so you can just submit a pull request if you want to change it um i mean if you want to add information there i mean the the public companies you can actually verify uh because they have to report those numbers they're private ones uh not you know you're just taking their word for it um because they don't have those public disclosures

i mean i i listened to your uh podcast with uh ansel uh it was a great podcast with ansel lindner um you guys mentioned two things there you mentioned like uh like i think he said 10 to 20 percent if we got to 10 to 20 percent of americans owning bitcoin and become a lot harder for for bitcoin to be banned um possibly i i tend to agree with that line of reasoning but what percentage do you think we're at right now that own bitcoin 350 million people one percent would be three and a half mil with self-custody and i i mean i won't put the onus that they have to use their own node but self-custody at least we'll say just self-custody i bet it's less than one percent right way less

than one percent and then the second thing you guys said is you did mention these public companies that are all owning bitcoin i don't think they help us that much i think they help increase the price of bitcoin uh but they're not going to fight for self-sovereign bitcoin users they don't give a shit and then they don't they don't care about that shit the price raises so it makes the network more secure because the token that pays the miners and results in higher hash rate and whatnot increases but they're not they're not gonna you know michael saylor's not going to be fighting a fight for self-sovereign bitcoin users well i will push back and say the inclusion of bitcoin on these publicly traded companies balance sheets is a passive way to protect bitcoin because if you

get hit a certain threshold of important companies like square coming in i think is much more important than micro strategy because square is probably one of the most innovative companies in the country when it comes to fintech products and i think they would probably get mad at me if i labeled them a fintech company um like a neo bank uh and it's a passive protection because it makes it that much harder for the government to crack down because you have systemic publicly traded u.s companies with this asset on their balance sheet and if the government were to come in and shut down bitcoin overnight you would you would actually hurt the stock market significantly as we know with presidents uh that's not that's not what they're going to do though

if they attacked it well first of all the square it is different because square is self-custodying which is which is awesome right not your keys not your coins and i i think square has a direct incentive to make sure you know to try and fight for for bitcoiners to be able to self-custody Because a huge, if you look at their user flows, like a large amount of their users are just buying Bitcoin as they should and just immediately withdrawing it, right? So it hurts their business if, and you see that with their Square Crypto, how they've been funding development and stuff with funding BTC Pay Server. But they have an incentive. They want to see like self-sovereign Bitcoin usage happening, right? And I think the Michael Saylors of the world want that too.

He seems pretty passionate. they may not self-custody their bitcoin yet but i could see him definitely uh no he he literally said there's no reason to spend your bitcoin ever like on twitter yeah he said that he believed that but he can believe there's a reason to self-custody he said he said there's only like the most important transaction you should make is is after you buy it sending it to cold storage but to him that means sending it to his uh custodial wallet that someone else is holding his cold storage look if if the government comes after if the u.s government comes after bitcoin or if any of these governments come after bitcoin they're not going to come out for a full ban they're going to say

you need to do full disclosures they're going to make self-custody as difficult as possible they're going to make there it doesn't hurt the digital gold narrative as much right it's not gonna um it i don't see them i they already are disclosing all of their shit right like they have to as like publicly traded companies it doesn't it doesn't impact their usage of bitcoin that much um and i i don't think i don't think that like i don't think you gotta think game theoretically here though like do you think barry silbert's gonna help protect us from the u.s government no but we've already proven that he's ineffective remember he had attacking remember he had remember he had people meet in a hotel room yeah he was ineffective at attacking bitcoin but i also would

say he's ineffective at protecting bitcoin like i don't i don't think it's like that big you know it's good to see i i'm not saying it's not good to see i just don't think uh i i i think bitcoiners should be careful about overstating how much you know protection we get from these these big public companies from buying buying bitcoin and holding it on their balance yeah it's inevitable they're going to be doing it and then to think of the game theory play it out though like still i think that leads to the scenario that i described earlier in which if you allow these companies to be co-opted and they diminish bitcoin's assurances it diminishes the value of the token on their balance sheet and again if that's being incited by the government maybe the government thinks

twice about that because they are impairing uh u.s publicly traded u.s companies and as we know presidents and fed reserve board members love the stock market though would the the dissolution of just the bitcoin portion of their balance sheet um be enough to bring the stock price down far enough that they wouldn't attack i don't know just playing through my head i don't know if forced disclosures of bitcoin ownership and restrictions on self-custody will hurt the price of bitcoin do you think that'll it might it might not hurt the price of bitcoin and if it doesn't hurt the price of bitcoin then that whole incentive structure goes out the window i think it has to though right i don't know a lot a lot of i think a lot of compliance

bros would say that you know it it gives bitcoin further legitimacy in the eyes of regulators like the people who actually need to use it for the purposes it won't be framed as we're destroying bitcoin it'll be framed the same way that end-to-end encryption doj thing was framed where they you know they they really care about bitcoin and they want to see it foster a great ecosystem and yada yada yada while they fuck us like that's that's how it's going to be framed if it happens yeah and again it won't happen because the immune system like segway 2x arguably would have would would have created an attack vector on the network yeah but that's different than saying that the public companies

having it on their balance sheet protects us, gives us great protection. It's not protecting us. Just because they can't attack us using it doesn't mean that the opposite is true. See, yeah, I would argue against that. I would say it definitely, if anything,

delays enforcement. Because the government has... You think MicroStrategy having Bitcoin in a custodian delays... okay like i said square is a different story i think i think square you know is fighting the good fight for now it's like yeah square can be an example that brings in other square like companies uh again if anything it delays which is a form of protection i would argue but square is uh i'm looking on the sheet right now square is four thousand of the six hundred and twenty

thousand bitcoin on this fucking bitcoin treasuries.org yeah well they're stacking sats they're going to stack sats quarterly just i just want i just want people to uh and well this is a good segue into our next topic our good friend rea betoria from fidelity assets uh fidelity digital assets excuse me put out a great report this week recommending a five percent portfolio allocation to bitcoin so maybe this will help expedite it which will help delay the attacks on bitcoin we'll see though no don't be don't ever be complacent this is a little complacency freaking but i'm also trying to paint a picture of uh of potential game theory scenarios that can play out yeah i mean i'm not look like i'm

like i was trying to say earlier like i'm not saying that there's no benefit i just don't want the benefit to be overstated like i think there's different there's different levels of benefit like we have rich people that are self-custodying that are like that are using their own nodes stuff like that like they're providing more protection uh to me i i believe they're providing more protection to the the core value prop of bitcoin why i find bitcoin interesting um then then someone who just keeps it you know publicly disclosed on their balance sheet in a custodial partner yeah no just laying out the uh the facts here the scenarios it's interesting to war to war game this stuff um is that the correct term i don't know yeah i think so okay

good i know i i i love i mean this is what i like uh this is what i miss about the new york bitcoin meetups right yeah it's like because especially you get you get a little drink in and you start going through all these different scenarios yeah yeah uh i believe there is an in-person meet up in central park right uh yeah in washington square park washington square park leaves new york and just starts confusing all of our parks there's so many of them i miss central park uh again i mentioned rebuttoria from fidelity to digital assets put out a um a research piece with a portfolio allocation recommendation guys should definitely check that out uh and our boy my counterpart here at rhr uh we mentioned it a few weeks ago he was on a

privacy panel uh at a fidelity privacy conference a couple of months ago is that a couple of months ago i think it was september yeah um so last month so sam abasi was the moderator and they released the full you can watch every talk that happened it was they did a really good job their priorities really seemed to be in a good place but yeah mine was with uh uh tom robinson of elliptic and ricardo pony yeah and sam abasi of fidelity moderated it it was a good it was a good conversation it was a fun one yeah go check it out freaks i appreciate them having me yeah and uh shout out to you fighting the good fight on these on these panels but see like that's what like if you ask tom if you ask tom like he says you know they're they're doing they're helping bitcoin

because they're making it more regulatory compliant by doing all this chain surveillance and stuff but i bet you if you ask a lot of these you know these public companies they would say the same thing that's why i'm not necessarily sure like a lot of times news that we would find bearish other people would find bullish that's all i'm saying yes doesn't necessarily mean the price is gonna like the worst case scenario for me i think i don't know the worst case scenario for me is like the bitcoin price like pumps and like we're right about that but they just stamp us all out you know they just like fuck us all right like that would be that would be the worst case scenario to me some of the 2011 i'd rather go to zero i'd rather go to fucking zero if you

if you talk to like the 2011 2012 ogs they'll say that already happened right yeah i mean if you talk to some people they say i'm being dangerously towards the bcash narrative but i don't think that's the case that's that's not uh that's not what i'm trying to say here whoa no i know i i get no i agree with that perspective well it'll be interesting to see how it plays out i'm just on the side of freedom i think people should have freedom so if freedom gets stamped out i'll be pissed off yes and freedom's uh being attacked pretty aggressively from all angles right now exactly so go out there and speak up uh marathon patent group uh announced this is a mining company here in north america they announced a joint venture with beowulf energy

for 105 megawatt bitcoin mining data center they also just put in a big order for bitmain s19s so we mentioned uh hash rate getting plugged in uh in the beginning of the episode when we were talking about the upcoming difficulty adjustment tomorrow um and so here's an indication that more hash rate we have some of the most recent hardware some of the most recent hardware will be coming to the network soon um yeah we'll see if that s19 batch is is up to snuff hopefully they they don't want the failure rates that some of their batches have had to date uh this was a really cool piece love that bitmax is just chugging through this controversy they're going through uh they wrote a blog on the risk of brain wallets and how easy

they are um to be swept so if you can create your own private key with a random string of words Some people in the past have used lines of a book, and there's bots out there that are just looking to sweep poorly made private keys, particularly seed phrases. Yeah, I mean, they already know the private keys, so they're just checking them all the time. Yeah. So don't do that.

It's good to see good BitMEX research pieces still coming out, given all the shit they're dealing with, so cheers to them for that. Keep fighting the good fight, freaks, at BitMEX. ellen research data i did not look at this yet what do you got here neither have i it's just a massive data set so you can go and see like the topology of the network at any given time so that could be really useful for people trying to do research and analysis of lightning and how it's evolved um yeah yes it's all on github pretty cool

uh another pretty cool thing is musig2 a simple two-round snore multi-signatures jonas nick tim roughing and yannick syrin uh some bitcoin developers worked on it looks like again musig2 and i have hold of my hand up here i haven't dove into the whole paper but the way i understand it is that it makes multi-sig more private. Except that with the trade-off that it's interactive, so both keys have to be online at the same time. Yes. So it's more for, like, hot wallets and stuff, I believe.

It's actually interesting, then. Like, merchants running Lightning nodes constantly. Yeah, it could be really useful for Lightning because Lightning is 2 of 2 multi-sig. Yeah. That's pretty cool. yeah we'll be on we'll see how that's implemented last but not least uh joe rogers has released the september edition of words bitcoin journal um so bitcoinwords.github.io

uh if you guys want to check out cy20m9 um so if you guys want to check that out go do that um yeah busy week crazy week like i said a couple minutes ago freedom is being attacked from all sides bill barr wants to put back doors in your encryption so he basically wants to end encryption there's a bunch of crazy people who want the government to censor the internet more there's a bunch of politicians who want to dictate what our uh social media companies can do uh twitter is not letting you share links to the new york post can we end it on an optimistic note in any way matt the doj had like their 84 page paper on cryptocurrency last week yeah we should actually point out that their anatomy of a bitcoin

transaction is hilariously wrong oh uh one thing that i yeah if i get hilarious um uh oh yeah two things i'll do the the negative thing first and then i'll do the positive thing i i looked up uh we were discussing drone warfare last episode drone drone usage is actually we've had more drone strikes uh since obama in the trump administration in somalia afghanistan and yemen god the only one we went down in pakistan that's why i said yemen man people don't talk about yemen enough they no one's really talking about drone strikes in general i just that i thought that was interesting that was a big thing on obama administration and i am guilty here i thought we were being more peaceful yeah we're not just no one's talking about it i guess just

all this other shit's going on um and then the other thing uh this is the positive um well i guess it's negative but positive in nigeria there's this there's all this police abuse that's happening um and the the groups that are organizing against it um the banks were used against them and all of their fundraising has been stamped out um but now they're using btc pay server to accept donations globally um towards this fight uh which is like this is this is massive to me like this is you know this is one of the reasons i bitcoin is because it gives people around the world the ability to access a global financial system without censorship uh or in a resistant censorship resistant way so it's fucking fantastic to see i like that we can end on a positive note

yeah see i'm bullish on that bullish as fuck okay i'm bullish too right now remember freaks is it the day is darkest before the dawn is that the quote the way i look at it the night is darkest before the dawn yeah this we're we knew there's going to be a fight like of course there's going to be a fight you know what is that quote it's like first they ignore you first they ignore you then they laugh at you then they fight you then you win yes right and we're at the then they fights you stage so so if if if it wasn't a fight then that would be bearish in itself you know i think there's going to be a fight here because it's it's such a monumental thing in human history we actually have the ability to you know enforce our rights and empower individuals like using code

instead of just laws uh and i think that's going to be massive and but it's going to be painful it's not going to be like this easy magical unicorn process i agree um so buckle up freaks sack up put your helmets on put your big boy pants on your big girl pants on big girl bra on whatever you need to put on you got to fight ahead of us uh i'm happy to be on the front lines with you freaks there was one thing i wanted to mention before we get out of here um oh yeah especially here in america things are probably going to be very chaotic in the next two weeks just realize that we're coming into an election um try to ground yourself i

fail at doing that myself sometimes and fall prey to the the madness of the of the media narrative of the given day to uh consciously inactively uh remind yourself that this is for a reason uh got a chaotic election season i love you all peace and love freaks