The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - 1.5 BILLION BYBIT HACK, FORT KNOX AUIDIT, RUBY BOOTED | The CBP 204 Pt. 1 (Bitcoin Podcast)

Episode Date: February 25, 2025

FRIENDS AND ENEMIESJoin us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com⁠Discord:   / discord   A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetworkThis show is sponsored by: easyDNS - ⁠⁠www.easydns.com⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer.

Friends and enemies, welcome back. Katie Bickler's podcast, Mighty CVP number 204. My name is Joey. That's Len. We're one minute late because I didn't tell Len that we were using a different stream yard room today since I set the stream up a little early. Sometimes it doesn't like it when you set the stream up more than 24 hours in advance. I don't know if you've noticed that, but even just now I had to reset up the rumble stream because it canceled it. So there you go. What's going

on? How are you? Same old, same old joy. Snow is starting to melt, which is nice. The temperature finally got above freezing for the first time since we had a big snowstorm a week and change ago. So it's good to see some of the snow just disappear. It's wonderful. Spring is around a corner. We're about a month away, a little bit less than it at the time of recording. So, you know, maybe time, Julie, we do competing streams. You know, across streams. What's that? You want to cross streams? In the world of Ghostbusters, that's definitely no, no. In other worlds, it might be a good thing.

You could tap heads, you could do whatever. How are you, buddy? I'm good, man. I'm good. Busy day today at work, busy day with the little one, but all good, all the same. Maybe we'll do, let's do the ads. We got a big show tonight. We got obviously competing interests here for the Francophone listeners and viewers. You have a debate starting at eight o'clock, Carney versus the world basically over on, I think CBC is running it or CPAC, one of the two. So that should be interesting, but we also have lots to talk about here. So we'll get into the ads. EasyDNS is the flagship sponsor. You guys know Mark, you love Mark. He's been ripping for us on the website

side for the better part of two years now, if not longer. And he's got everything you need when it comes to Bitcoin and virtual private servers and domain registry. All that stuff is on board there. Not to mention that when you sign up for a website or port a website over, you get the domain share suite of security, which is sick. You've seen tons of stories over the last year or so, maybe even longer than that, about all these different spoofs and email hacks and all this other stuff where they're kind of... These nefarious actors are using your website suffix to fake emails to people and get their information and get their Bitcoin, get their private keys, blah, blah, blah. You don't have to worry about any of that with Mark. Virtual private server stuff, as I always say, BTC pay server, NOS or relays, Bitcoin nodes, whatever you want to do, you can do it

there. Go sign up. CBP media is the code, 50% off your first round of buys. And of course, Mark in the chat here, most Mondays. So if you ever need tech support, go right to the source. Not too many places you can do that. You got to love that. There is a mark in the chat, but it's. So if you ever need tech support, go right to the source. Not too many places you can do that. You got to love that. There is a market in chat, but it's not the market you're just... Not today. Not yet. Anyway, we'll see. It's still early. Still early. Who's the other sponsor? Well, you know what? Somebody is saying in the chat, buy the fucking dip. And that's a good segue to the next sponsor is Bull Bitcoin. I don't know what the price is. I'm looking at Moscow time. It doesn't seem like much of a dip to me.

It's like 91, I I think it's like 91 That's whatever it's still quite a bit if you ask me, but still I'm buying I'm not selling but people may want to sell but either way bull Bitcoin is the one you want to buy and sell Your Bitcoin too. So it'll be happy to take it on chain lightning Whatever you want last I check fees were low and fees I think are still relatively low So do your on chainchain buys right now. Bull Bitcoin will give it to you even on Lightning if you want. So you may want to start learning how to use Lightning and start stacking on there because there may be a point in time when the fees are going to be high. And you know what? You got to have a big stack on

your Lightning wallet. Also, what you could do with Bull Bitcoin aside from just buying and selling on-chain and Lightning is you could also sell your Bitcoin and you could do with bull Bitcoin, aside from just buying and selling on-chain and lightning, is you could also sell your Bitcoin and you could use that to pay your bills. There may be some delinquent Christmas card bills. There may be some out there. I don't know. It's almost March. People still up there for Christmas. Christmas trees are still up in some places, so you never know.

So whatever bill you have to pay, you could use your Bitcoin to pay for that. Also, you can't spend your Bitcoin, at least here in Canada, in another part of the world, like maybe El Salvador you can, but in Canada you can't. You can't go to a merchant and start spending your Bitcoin. Just they don't accept it. But one way you could do it, you could buy gift cards. And well, both Bitcoin has these gift cards that you can buy with your Bitcoin. And you can start spending that in the real world.

That's so cool. So you can like go to Home Depot or whatever and use your, well, indirectly use your Bitcoin to make the buy. So check them out. If you haven't opened an account, do that. Our promo codes or our referral links below and $21 will be added to your account once you provide the necessary information and fund your account. Check them out.

Can't beat it. Housekeeping first and foremost. I was on Why We Bullish last week on Friday with two friends of the show, Dee and Pablo, and it was hosted by Nathan who runs Bitcoin Mentor. So that was a great show. We had a lot of fun. Some whiskey was consumed, some great commentary. I thought really that Pablo hit one out of the park and I had a couple of people who are not normal Why Are We Bull bullish watchers message me and just say that Pablo's comment about this cycle seeing the middle fallout was as a banger comment.

There is no more reasonable, rational thinking man's argument to be in anything besides Bitcoin or gambling. There is no in-between. There is no fake utility. There is no central banks are using XRP. Only the stupid people, the 70 IQers think that, but thinking people now have realized that there's only two options here. You're either at the casino or you're in the hardest asset in the world.

So I really enjoyed that. I want to give a shout out. And what is an option? The casino isn't an option. You just roll the dice. You never know. Yeah. But that's the only thing people are doing now.

They're either rolling the dice or they're in the hardest asset there is in between. And then I want to give a shout out to standard, frequent, I guess, fans and friends of the show. One is Paulie Tremonti, who's not in the chat today, but you can catch him on Twitter. I think he's just Paulie Tremonti on Twitter, did the High Hash Rate podcast. I had never heard Pauli speak before. That was his first podcast appearance. Mike, Dan, and him did a great hour and a half. There's Pauli in the chat. Did a great hour and a half or so. I listened to the whole thing. It was really good. A lot of commentary about just what it's like to be a Canadian right now and the Bitcoin mission up here. Outstanding. And then obviously, as well, Boomer on the Why Bitcoin podcast with a friend Canadian right now and the Bitcoin mission up here outstanding.

And then obviously, you know, as well, boomer on the why Bitcoin podcast with friend of the show Sly Goomba. Another great... He was also on the Bugle Weekly. Was he? Yes. Wow. He was doing a large segment on the 40 hour per week consumption of podcasts.

He's a big proponent of that. I didn't realize how in depth he is. Going from meeting to meeting, your phones are on, listening. At 6X you can get a whole hour in between your meetings. And if you're listening to it, I forget what speed he's listening to it, like a 2X or 3X, whatever it is,

you're able to consume a lot more in a shorter period of time. The compression is wonderful. I like that. Those guys are awesome, the Bugle Weekly. They're a funny bunch of guys, a couple of guys. Boomer's using his name now, so I'll just mention that he got a shout out from Scott. Scott knows him as Corey and he got a shout out from Scott Wolfe last week during the

interview about the Ottawa meetup scene. I think that's a good sign, man, for Scott, who lives out in London, I think in London, maybe, to be, no, he lives in Toronto, sorry, for him to be doing that kind of work on the coalition side and know about what's going on in Ottawa speaks volumes about what Boomer's doing. So I mean- He was known as the broken ruler on- That's right.... Bugle podcast. Like you can't beat this kind of enthusiasm from the community. I don't think. It's outstanding.

I'm proud to call these guys friends and I'm proud that they're part of this community and I'm proud to be available to them the same way that I know they've made themselves available to their friends, family, and community. It's been outstanding to get to know you guys over the last little while. And I'm looking forward to more from you guys in terms of your mission, man. You do the shit. Boom, the man of many names.

He's the Ed Leslie of our generation here today. He's a Buddhist barber. Just want to say, sorry, you want to- I have one more piece of housekeeping. This Friday, I will be on the Two Stewards show. Oh yeah. I'll be traveling out to- Mark and Brent. Yeah, I'll be traveling out to see Mark and Brent.

It's a economic slash real estate slash investing slash life podcast with Mark and Brent. They came here to do an episode in the fall and I really enjoyed it. My wife said they are both very nice. We sat with them for a bit before the show and afterwards as well. I've been hoping to get on their program. It's very good. I listen almost every episode and I'm excited to go see the studio that they have there. It's nicer than this one. This one is in turmoil right now. It's in disarray. I didn't tell Len this, but I ordered a desk, Len, that's going to give me a bit more space here. So, I'll take it at the end of the fiscal year.

Okay. We don't have to worry about it now. I got plywood and two by fours. I could have built a beautiful desk. You might get splinters by using it. Do you know what the price is right? The crux here is cables. I'm going to do a studio tour video.

I said I was going to do it before, but I'm embarrassed of the cable situation here. It looks fine when I'm in the chair and it's like got the depth of field and everything, but I know off camera, right? Yeah. Like dude, I'm going crazy here. So I told my wife, I'm like, I'm going to, I'm going to go buy a proper desk with some cable, like a cable thing at the back, hopefully clean this up a bit and paint in here too at the other side of the wall. Anyway, sorry for another time, but yeah, great week. That was great week coming up. What else do we got before we start? You want to do the boost? Yeah. So the top five, we have wartime 333 sat. It's always so consistent. He also did the mugs too. So I did two of them. So, well, it was a fire and, um, clapping. That was the other one.

He didn't do the mugs this week for whatever. Either way. He says, hell yeah. I need to get my chocolate milk numbers up. Only reason I'm not at one gallon per day is I want raw milk at that quantity. Yeah. Hard to get her. Hopefully RFK changes that. So I think he's obviously sounds like he lives in the U S. Yeah. American listener. I mean, I can see the split. The split is like 70, 30 ish Canadian American with like 5, 6% European makes

it in there too, but it's pretty small number. I haven't looked in a while, but it's... Come on. We did a spot from Louisville. You should have... From where? You should have said it. From Louisville. You don't watch NFL prim? You should have said it from Louisville. Oh, I don't know. You don't watch NFL primetime. Tom Jackson. I mean, Tom Jackson and Berman haven't done primetime for a decade. Yeah, but that's a well, anyway. Let's do an at

this guy at no name. I wish I could give him credit at 420 sides. Anyone you guys interview in the future who has their own podcast, can you teach them how to accept boosts on Fountain? I have all these shows and none of them do boosts, only comments. Example, the Looney Hour. It's an easy small orange pail and gateway to exit the matrix.

There's instructions on Fountain if you just wanna use them to host it. It's really simple. I'll be at dinner with Rich and Keith in a few weeks. I'll send you the instructions. You can fucking show them and let's get them on the... It's not even that hard. It's pretty easy to do. It doesn't require... People, I think, and if you're not a Bitcoiner, you think about Bitcoin, you think about the wallets and all this, and Lightning is sort of an intimidating beast at face value, but you don't need to download anything. You don't need more hardware. Fountain is semi-custodial if you want it to be. It's rather easy. So maybe I'll

give them a quick lesson there. Jer writes in Nice. Sorry. Very nice to hear from Scott. Super thoughtful. Yeah. Scott was a great guest. I mean, I've given him and the coalition a lot of shit over the last two years, and I cannot stress enough how important it was to me in this whole process, kind of getting to know him and eventually having him on the show, that when I met him, he was not confrontational. He thought that I had some fair criticisms, thought that I had some unfair criticisms. And I spoke to him over a few pints,

among other people like said Youngman was there, Jaime Garcia was there, bunch of people, Brandon, all these guys who were at the conference last year, we all went to the same pub the night after the conference wrapped up. I talked to Scott for a long time. Like I said on the show, it's easy to be in Bitcoin and talk, talk, talk, talk, talk, but not do anything.

Talk, talk, talk, talk, talk, but never start a show, never try and raise money, never get involved with meetups, all that stuff. Scott has done things probably the hardest possible way between leaving his old job, coming into this silo, working on Bitcoin policy for federal government officials to review and hopefully... This is an almost impossible task. It seems to me, Len, now is the time to start gaining some momentum given what's happening in the States.

I wish them all the best. And like I said, on, uh, on Wednesday last week, that passion cannot be faked. And he's got it in spades. He's welcome back on this show anytime. And I'm happy to support whatever those guys are doing. And I don't want to say that we're shooting on people that don't do anything. I kind of respect people that don't. The reason being is you have, you're anonymous. You're buying Bitcoin. You're not out there. You're not going to... No, no. There's nothing wrong with being...

Totally. I love that. And in a way, you are better off than a lot of other folks because if you haven't exposed yourself to owning Bitcoin, that $5 wrench attack, you're less likely to be subjected to that. For sure. Yeah. I give you all the credit in the world if you do that. There's that. But my problem is the guys who are constantly yapping, and I'll point to the clickbaiters again. If you're just running shady content all day every day trying to corral views for the sake of paying your bills, you're not helping. You're hurting. And that's not good, but there's a lot of people doing that. And I look at like the Bitcoin coalition could for sure put out videos and content and podcasts that are just worthless. No alpha, no movement, no nothing, right? But it seems to me like these

guys are trying to advance a very specific set of positions and policies that make sense. And like I said to Scott last week, they're rather simple to adopt given the tech available in Bitcoin, given the slant toward Bitcoin that you see in the States now, among other things. There's a lot of reasons why this stuff should be getting easier and easier. And so I'm looking forward to see what they do. Honestly, I think they're led by good people. Brad Mill's involved as well. There's a fellow named John, whose last name I always forget, and and then Scott and they're bored. I mean, you can go to the BCC website and see their board. It's a stud board.

So it's hard to imagine these guys won't be successful as long as they keep plugging away. Well, Jair, this is a long boost segment. Jair, 1000SATS appreciate you. And he gives a salute right back to you. And Jair again, another 1000SATS. He says, thank you gents for another informative hour. I hope you find this one to be equally as informative as that one. Probably not, honestly. Dave Bradley in the chat. Dave, I meant to message you. Len is doing the

next rash of interviews, but then I want to add you to my guest roster here into the spring. So we'll talk. I forgot. Surprisingly, that's where it ends up. I have the next four already booked. And then so the first one, two, three, four. Yeah. So the first one that's available in spring is available if you want. Anyways, to say who's coming on this Wednesday, it's a pre-recorded interview that I did a month ago with Tony Yazbek. And he is the co-founder of the Bitcoin way. His story is very interesting in that he, well, I would suggest listen into it,

but it goes to show you that you can't leave your money in a bank is where he left his money in the bank. Overnight, it was taken away. The wealth was taken away. And unfortunately, he didn't have any opportunity to convert it to USD. It was just shut out and he became a Bitcoiner instantly. He went from prosperity

to being retired to well, back in the workforce. That's a crazy story. I remember when you told me about that interview after you did it. It's worth a listen. I mean, you guys will all listen anyway, but it is worth a listen. Yeah, boomer in the chat. Tony's one of the highest signal guys in Bitcoin. Full disclosure here. I didn't know much about this fella until we started talking about the time coming on. Well, full disclosure here, I didn't know much about this fella until we started talking about him. He's been on like, he's talked to Seyfadine, he's been on his show, he's been around. So he's really, I felt sorry for him just listening to his story, but it was inspiring

at the same moment to want, I wanted to buy more Bitcoin. And I did since then. And last thing I just want to suggest, hop on our Discord, man, it's getting to be popular. It should, even Joey's coming on every- I'm being forced, okay? I fucking hate the Discord interface. Len is forcing me behind the scenes. There's board action against me.

I'm being usurped by other executive members of the CBP corporation here. No, it's just a suggestion and he follows up on that suggestion. I suggest you check out the Discord. The link is below. That's another high signal place where we're chatting. And if you want to talk to Joey and even a lot of beef you get or grief you get over there for not running a NoJoy. I'm going to have to just send you something.

Beef and grief. Not to mention that people are already giving me shit about not responding in Discord when I'm playing video games because they can see what I'm playing. Total disaster. Just another look into my private life. What am I wasting my time on? Let's go. This has been almost 20 minutes.

We're not even starting. Let's get going. We're running out of time. All right. Well, buy bit, I guess that's number one. Right? What a story that... EYE bit.

Bye bye. Bye bye to your fucking money bit. Right. What a story that you buy. Bye bye. Bye bye to your fucking money bit. Yeah. So hopefully everybody's aware for those who don't aren't aware, we'll run it down. At least I'll do a quick overview. But this is a reason why you don't want to leave any of your Bitcoin on exchange. It's recommended you use a non-custodial exchange and then it's sent to you immediately. Something like bull Bitcoin or alternatively, if you're not using a non-custodial exchange and then it's sent to you immediately. Something like bull Bitcoin or alternatively, if you're not using a non-custodial exchange, sorry, you're using a custodial exchange, take it off as soon as you can. Don't leave it on.

Don't give them the opportunity to get a hack and then you have your funds drain. But with respect to Bybit, the numbers are astounding. It was $1.4 billion worth of ETH was stolen from them. It was a multi-sig wallet that was eventually compromised. And apparently the last signature of that was from a ledger device. Now with all this to be said, I'm not trying to shit on ledger. It seems to be more of an internal problem, but I will shit on exchanges that hold onto your Bitcoin.

Don't let them do that. I know this is an ETH story, but still there's some semblance to what's going on with Bitcoin. Take your Bitcoin, put it into cold store, sleep well at night. So Lazarus Group, apparently that's the group that's responsible for this. Familiar to you and I, right, from the other show. So we do, Joey and I do Ax? From the other show. So we do. Joey and I do Access Up Easy. That's released Friday more.

So Fridays, I think they're released. It's Friday sometime. I don't know exactly when, but yeah. And we talk every so often comes a Lazarus group story. And here's another one. So they were responsible for this one point four billion dollar Eats Eith heist. It kind of reminds me of Goodfellas. I would imagine somebody

from Lasseter's group is taking a shower, just banging on the shower. That's a heist. But with respect to this, I think now because ETH has been converted slowly or quickly to Bitcoin because they don't want to hold on to it for a variety of reasons. Is North Korea now, do they have a strategic Bitcoin reserve before anybody else? It just seems like they kind of do. I don't want to say I'm going to, I will go out and say that even the Bitcoiner of the week for these, I don't go Kim Jong Un man, because he is fucking holding more Bitcoin than most other people.

But people are discussing maybe even the possibility of doing a rollback of the chain. And because if you think about it, a sworn enemy, North Korea now has access to the shit coin, the ETH. But I honestly, it's too late for that. If they would have done this, it would have probably been done almost immediately. But it's now days after the fact. So it's probably not gonna happen. But the fact that this has even been discussed just highlights the fact that what a shitcoin ETH really is. Like if there's somebody that has the power or a bunch of people that have the power

to arbitrarily roll back the chain, to me that's centralized. I don't care how you fucking say it. It's a centralized shitcoin. But I wanna talk a little bit more about Bybit. I don't know about Bybit. I don't know how Bybit was able to manage this, but they, think about a traditional bank, right?

If somehow there's a compromise, there is the $100,000 backing for every account in Canada, $250,000, I think in the United States, it's done by bigger powers, right? Either the government or a central bank or a combination of the two. When it comes to this, there's nobody that can make people whole. But yet one point four billion dollars was taken from Bybit. And I can't fucking believe it.

They just took this in the chin and they kept. I don't know who the fuck aside from Apple has one point four billion dollars just sitting idly there. Oh, we'll use this to fucking fund our customers to last your money. Like, I don't understand. Apparently they, they, they borrowed money. That's what people are saying. That's one way they're trying to weather the storm.

I don't know. It just seems like it's, it's absolutely. Ponzi potential here. No. Yes. Potentially FTX was saying that they were fully back to just before they went tits up. So we'll talk about FTX in just a moment. I just wanted to go into one other topic that's kind of similar to this. But a lot of people wonder about Bitcoin when they buy Bitcoin from an exchange,

do they really have it? Are they selling you fake Bitcoin or I'm of the belief that, yeah, that all exchanges selling you real Bitcoin, there's no there's no shenanigans going on. You're not pulling the wool over your eye. And I'll explain why. If you're using this as an example, $1.4 billion of ETH was stolen. If they were selling non ETH, the price of ETH wouldn't have moved at all. Yeah fact that they had to re-buy $1.4 billion of ETH, the price of ETH went up, almost, I looked at it, the exact amount. Yeah.

So it just goes to show me that this unregistered exchange, it's not like it's publicly traded like Coinbase and registered like all these other, they were able to buy ETH because they had to, so they weren't selling paper or fake ETH. And I think that companies like this are selling you when you buy Bitcoin, real Bitcoin, I know it's a totally different topic. But I think this is my opinion, I could be wrong. But it just seems like they are selling you what it is that they need to sell you, which to be in one way, it seems to be a good

thing. But don't fucking rely on these, these exchanges that hold on to your bullshit, especially fucking eat the fuck. a good thing, but don't fucking rely on these exchanges that hold onto your bullshit. Especially fucking ETH. What the fuck? You're doing that? I don't know. The thing that's interesting to me is there's been these pictures floating around of what a ledger device might've looked like trying to sign that transaction because Ethereum as an asset, as a software, let's say, has changed quite a bit since the original Ledger device launched in 2015, 16, before that maybe. It was a long time ago, but you could still be potentially using a Ledger Nano SX, whatever

that first one was, that we all had, by the way. I had one. You could still be using that device if you're locking up Ethereum for some reason or you're holding Ethereum for some reason or you're holding Ethereum for some reason. Now those devices are the relics of a simpler time in Ethereum. When you're trying to use this thing for a contract or for a multi-sig or whatever, it doesn't actually give you a checksum verify, I'm pretty sure is the term that we use in Bitcoin,

where it would tell you basically if the address was wrong or you'd be able to figure it out. The Bitcoin address is for people who don't know or split into three parts, right? It's like the prefix, suffix, and then the backend. And each part plays a role in verifying what type of address, the other characteristics that

are assigned to that address based on that wallet. This stuff is not super important all the time, but for stuff like this, it's very important. Because if your device that you're signing the transaction with can't give you accurate information about the transaction because the software on the asset side has changed, you're fucked. And that's what happened here. There's some social engineering you mentioned, Len, it's in the chat as well, among other things.

It's just not a good security effort by Bybit if this is possible so easily. But at the end of the day, part of the responsibility here is that these guys didn't update the hardware they were using to secure their assets. My question for people now, if you're using Bybit, why would you ever leave anything on the exchange knowing that number one, they just bought back a billion and a half dollars worth of ETH, somehow had the cash, somehow got loans. I don't know who's giving loans at that level to someone who just had

their security compromised. Number two, there's rumors floating around that part of the reason we're seeing this depressed Bitcoin price is because there's negative pressure from them selling Bitcoin to make ends meet on the Ethereum hack. And then finally, on top of that, if you're in Ethereum, you mentioned it Len, the idea that Vitalik can even float the idea of the Ethereum foundation saying, we're going to roll back that chain. We're going to roll back that transaction. We're going to put those funds back in the right people's hands and the criminal activity. That's nuts. So again, it's funny. There's a video I have to make at some point here about Mark

Carney and his split economy. But the reason I'm even bringing that up is because in one of the replies to his comments yesterday, somebody mentioned that Bitcoin was no good because of the buy-bit hack. And I think a lot of people are probably thinking this on the traditional finance side. They're looking for reasons to knock down Bitcoin. But this is why you buy Bitcoin, self-custody Bitcoin, have a solid hardware device, a CoinKite device, preferably. But there are others that are better than a fucking ledger. And what do we always say, Len? As a Bitcoiner, your security suite has to be easy in, hard out. That is the whole equation. And you're doing that for a couple of reasons.

One, because you never know how emotional you will get when Bitcoin hits a million. That's the first thing. And number two, you don't want to be subjected to a 10-minute social engineering exercise. If something takes you a couple of days to get together, to send out Bitcoin, to do an outgoing transaction, you're much more likely to be... Even the dumbest people are much more likely to avoid something like this because either they don't have the attention span to stick with this for a day and a half, or finally the light bulb will go off before they send the transaction. But if you don't have those things, the potential for you to be targeted is there too.

Who was it about a year ago that had like 60 minutes of audio with a social engineering guy who almost had him? He was like an OG Bitcoiner. I can't remember who it was. He almost got socially engineered for like a big part of his stack and eventually got the kid to just talk about it with him. He was like 16 years old.

Somebody in the chat will remember, these guys are gunning for you all the time, whether you're an exchange, whether you're an individual, whether you're a government, whether you're whoever, Junseth, there you go. So when you're talking about this stuff, it's not just buy bits got shitty security. They do have shitty security. It's not just buy bit as a target. It's everyone is a target. And if you are holding that much wealth on an exchange, you can have your wealth sniped by somebody who is unrelated to you will fall for this thing way easier than you would. It's just too much spreading of risk. Don't bother with this. Hold it yourself. Sleep soundly. Don't worry about it. Yeah.

And I'm going to say this, and I'm gonna say this and I Can't believe I'm saying this but it this is the truth Ledger when it's done properly when it's used properly and it's hard to really use it properly Because you got to plug it in and everything but still I'd be trust that more than I would by leaving my Bitcoin 100% No, it's not even a question. Not even a question Yeah So if you're gonna have to pick and choose between I going to leave it on X exchange or use my ledger device, the ledger device wins all the time. Even those older ledgers, we talked about this before, the older ledgers,

without all the stupid backdoor key sharing and all this other shit, yeah, they're not the best technology now. They're not as good as the Q or the Mark IV, but they're like, they're a lot better than leaving it on any exchange. A lot better. I think so. Yeah. Especially if you are updating it. I would imagine they release firmware updates for even these older devices. I don't know. So that way you prevent yourself from being hacked to a degree. Still way better than leaving an exchange But even that like you mentioned two devices which we recommend the queue or the mark for from coin kite both are great products Learn how to use those properly. Absolutely. That's the way to go. Yeah

FTX we talked about this It's probably a good segue to it from by bit to FTX because they are starting to repay their customers for people who are unaware. This is the big exchange that went hits up back in 2022. And so they starting to repay their customers who have up to $50,000 that they had on the exchange. And for people who missed this first round of payments was, which started on February 18th

Well, the next one's gonna take place on May 30th. So this is a very long process to get through everything and When FTX this is a very important thing to know like they're paying people back and people might be thinking Oh, they're marking to market on the day of the hack. Yes when FTX Disappeared Bitcoin is trading somewhere in the vicinity between 16 and $21,000 USD per coin. What is it now? 91,000 you are saying? That's a huge difference. So that's how they're going to be recalculating the payments is based on when it went hits up. So 16 to 21,000 was the marker. Now with 91,000, that's an incredible

difference. That's another reason why never leave your stuff on the exchange. Also, the people that were using FTX, they have no hope in hell. Not only were they leaving their stuff on the exchange, a recent survey was done of a thousand folks that are FTX creditors and they say that 80% plan to reinvest in recovery funds. Okay, that's fine. But 62% plan to invest in what? Solana has their primary choice. So fucking crazy. You're given a lifeline here. You're going to get pennies and a dollar and what are you going to do? You're going to fucking try to roll the dice in some meme coin. Fuck you. There was a great, great tweet. I'm going to see if I can find it here because I'm pretty sure I tweeted it. A guy who got his FTX payout. I just got my FTX payout. I deposited it

into Bybit. Where are we going, mom? That was a great one. It is the morning of that. We'll see you in another few years, buddy. FTX still in the news somehow. Listen, I want to give a shout out to the guy who's doing the recovery work. I can't remember his name, John something. The guy is doing incredible work. For him to be able to get back all the money, pretty significant. I'm surprised he was able to do that. You hardly ever see that in these bankruptcy slash fraud proceedings that everyone gets paid back, even though it's obviously marked the market like three years away or three years back. Still a lot better than what you might expect to see in a situation like this. So good for him.

Again though, you get exactly what you deserve if you are in casinos that are gambling on shitcoins, gambling on, you know, what was he doing? He was trading against his own users, I'm pretty sure, via Alameda. Not to mention he had that token. It's safe to say that any exchange that uses its own token, we've talked about this so many times and so has everyone else, to run this flywheel,

this value flywheel, if you are on an exchange that does that, you are 10 times as likely to be hacked than if you are an exchange that doesn't. Still high percentage probability in either case, much higher than using a cold card, but you have to know the signs. If there's a token, you got to get out. If there's a bunch of shit you've never heard of trading every day, you got to get out. And by the way, Coinbase is going in this direction too. So Coinbase talking about, we need to alleviate legal departments from all this stupid burdensome work. That work, by the way, is making sure people

don't get ripped off. And we should just list every token and then worry about the rest later. It's all going in this direction. To quote Pablo again, the middle has fallen out. It's fallen out on the exchange side and it's fallen out on the token side. There's only self-custody garbage, Bitcoin gambling. There's no in between anymore. And if you get rugged or sniped, it's your fucking fault. There's no excuse now. Everyone knows Bitcoin is the king. The Ethereum guys are drowning in their own sorrow, including the two jokers on Bankless now. So, you know, it's over for everything that's not Bitcoin.

And you got to realize this at some point. Otherwise, you're going to realize it when you get rugged or when you're living in a tent in Southern Ontario, one or the other. Binance has your own token. You were mentioning anyone that has their own token. Yeah, Flywheel. That's another one. I don't believe anything those guys fucking say. CZ was in jail. So what are we talking about here? This guy, he's tweeting at Kanye West. This guy is not a serious guy. You want to leave your fucking money with this guy?

No. Binance US is back in action. Great. Super. Okay, okay, no. No, Binance US is back in action. I, great, super. Incredibly, they're back in operation. You're able now to withdraw and deposit your USD into Binance US. This has been shuttered for almost 1.5, a little over 1.5 years.

July, 2023 was when it was closed in the US and they stopped allowing customers to use it. But now you're able to buy and sell Bitcoin and a bunch of other shitcoins on there. So it's there. It's now back in action. What the fuck? Imagine going there now. Can you imagine going to these... And by the way, I should mention that there was a set of legal proceedings dropped today, or yesterday, I forget when, in the United States against maybe Coinbase or one of these other exchanges for trading in unregistered securities. The US is encouraging this behavior. They're not going to protect you if something goes

sideways. You have to protect yourself. There is no, well, I need to be helped by the Securities and Exchange Commission. I need to be helped by the US federal government. I need to be helped by the Securities and Exchange Commission. I need to be helped by the US federal government. I need to be helped by local law enforcement to track down my hard earned $1,500 that I got rugged on in Pepe turd token. Okay. Well, it's all you now, man. You need to realize Bitcoin is the only thing that matters. There is no pension investing in Pepe turd token. There is no slow money investing in soul meme coins. There is none. It's all right here. There is no get rich quick scheme. Nothing comes easy. There is no free lunch. You pick your analogy. The idea that people are still going for this man is like, it's mind numbing. How the fuck is this still going on? Have you seen the story about the gold being shipped over from London to New York?

Oh yeah, of course I have. I find this to be fascinating. Tell me why. Okay, tell me why. Are we doing this story or we're just talking shit about it? No, we can talk about it. This is a headline from the Financial Post. It says, gold bars worth billions are being stashed on commercial flights in rush to get bullion to America, because London vaults, they want to repatriate, I guess, in or really

either way. Yeah, to US soil because terrorists may be coming on and it might create some real problems with getting gold out of the vaults over there. So they're trying to ship over physically to try to move that fucking gold from London to New York or wherever the fuck in the United States they're trying to bring it to. But it's coming in all these flights. Think about the security involved, required to ship this shit.

You know, it's not like you could just put it on, put it in a suitcase and put it in the overhead compartment. It's gotta be secured, it's gotta be checked in, checked out, all this stuff that's time consuming. and the amount of energy required to put on a flight. It's twenty twenty five. We have fucking Bitcoin. This stuff could be sent from A to B quickly without any fucking resistance. And you're still using this. I can't believe there's still no corners like this that exist, but they do. Or maybe there are three corners either way. Either way, what the fuck they are. Or they're big corners, right? Just doing their job. It could be that.

What the fuck? Big corners are just sitting there. It just works. We have to talk about this. This is an important one. I want to give a shout out to John Rubino. He was on the show like three weeks ago at this point, and we talked about this story way before it got big about how the London COMEX went from a couple of days for physical claims to eight weeks, basically overnight. There's a bunch of reasons this could be. John mentioned the bar size is different some places, you have to remelt and rebar all this stuff, fine,

but it's still going on. And now you have this other theory floating around and it's been mentioned in the chat by Take the Ride that potentially there's missing gold from the London Reserve, fake gold in the London Reserve. The US Treasury like Fort Knox and whatever's underneath New York doesn't have the gold they say they do. They're using gold overseas to fill the void. They're using gold overseas to fill the void. I just want to talk a bit about what gold storage used to look like. It's pretty wild. I can't remember if I said this on last week's show, but I'll repeat it here. Fort Knoxland used to be this publicly available institution. I'm pretty sure I wrote this down. Let me see if I have it here. I've been trying to write stuff down more.

institution. I'm pretty sure I wrote this down. Let me see if I have it here. I've been trying to write stuff down more so I don't forget it. So was it not working? Anybody who wanted to pay, say, an entry fee was able to go in the same way you could do in the- Kind of. I don't have it written down, but I'll do my best to remember. So basically there's been like three audits of Fort Knox, one in 73, which was done by like government officials who are not experts in gold. It might actually be in my Evernote here, but basically there's been three audits. None of them really would be satisfactory by any stretch. So this is a problem, I think, when you talk about, okay, well, what are we talking about when we say the gold reserves have been audited? There's been audits

where they've only done 5% of the gold, right? And there was no weighing done. It was just a visual audit. There's been audits where they let in the media and the media gets to look, but they only opened one vault compartment and the media looks and sees there's gold there and that's it. The gold has never actually been audited. The saving grace for Fort Knox in the past, again, vintage American political lore here,

when gold was added to Fort Knox in the 70s, 80s, 90s, and even I think actually 70s, 80s, and before we went off the gold standard, they went off the gold standard, they had ceremonial additions to the Fort Knox reserves. So they drive through huge fucking trucks, little bit of showmanship. Why? It was power projection. This was at a time when gold was the thing that demonstrated power, having gold in your vault. And so they did this power projection thing. Now, looking at the audits, I'm not convinced that there was any gold in those trucks, number one, but then put on your tin foil hat.

That was the same time the US landed on the moon, big power projection there. I don't know, a lot of people think that didn't happen. I'm not sure where I come down on that. It sure looks to me like that great eight science project and vehicle couldn't make it through a fucking couple of orbits and then come back to earth. I'll fucking tell you that. Then you're talking about the couple of wars they had coming up where they quote unquote

lost, you know, in Vietnam, for example, like these guys cared a lot about power projection for like 20 years, a lot after World War II. The aura from that victory wore off as we moved into the 70s and they tried to reestablish it I think with stuff like the Fort Knox, with stuff like the Moon Landing, with stuff like all this other, I don't have to go down the list, but the point I was making is that there's never been a quality audit of Fort Knox, at least not one that's publicly available, that was publicly witnessed, that was publicly documented.

So whatever these guys do next. Do I think it's empty? Or because there's gonna be, I think, one of three different- I don't think it's empty. I think it's- So it's either they have nothing, they have exactly or more than what they

say like within you know a certain percentage you know a few grams off I'm not gonna fuck a couple or they have something between you know the percentage between zero and one and 99 so that's really the three different options they have yeah so which camp do you fall under? I'm a lot closer to nothing than I am to full reserve. So you're saying something between one and 99% of what they're saying. Yeah. The only thing that gives me pause in that hypothesis is that they just don't give a fuck about the currency at all. They've printed it like crazy since 71 basically. And so I think the question you'd have to ask if you think they have none is why would they sell it?

Now, you know, there's all kinds of commentary. We talked about it too. What's that? It's marked at like 30 something dollars. It's marked at $4. Yeah. So here's the thing, right? People who talk about this, I've been guilty of this too,

but people who talk about marking gold to market for the current rate, whatever it is, almost 3000 today, right? It's like 29.56 or something. It's going to get there. The reason people talk about, well, they're not marking it to market because they don't have it. No, that's stupid. The reason they're not marking it to market is because if they mark that to market, they'll have to mark some of the rest of their books to market. So you can't just mark one of your best assets to market and not mark some of your liabilities. Like, I don't know. How about treasuries? How about those? Think of how much time we just talked about this between the transferring of gold from London.

You could have just sent a Bitcoin address and told me what you had and that's it. Bingo. I know. I know. I'm with you. He's verified. You're saying the power mover, they had the trucks go in and drive. You know what the power move is now? You fucking have that open dime hanging from your necklace and you walk in and you just smile. Trump needs to have a million dollars in an open dime hanging around his neck. That's the fuck you. Yeah. In 2025, again, to say that I don't want to keep bringing it up, but why do we have to do this? The suspicion that they don't have anything.

If I wanted to verify how much Bitcoin I have, I could do it and there's no way you could say you don't have it because I'll sign a message with that. By the way, it's impossible then to verify all of Fort Knox. That's a years long effort. You're talking melting bars, you're talking different chemical labs to evaluate. The amount of energy required. I have an effort. I mean, Sonny, just forget about the energy.

You have to decentralize the whole process to avoid being able to just buy one chemical lab and convince one chemical lab to give whatever results you want. The whole thing is like... And again, the point now is not, Fort Knox is not about power projection now. It's about how much have you been lying to the rest of the world about everything else you did in terms of exporting that soft power since 71. And there's been a lot of things that they could have been lying about. There's a lot of people who think a lot of the US quote unquote wins and technological

developments and all this stuff. Imagine if you had ownership. Hypothetically, you were the owner of all that gold that claims to be in Fort Knox. It's yours. It's your name. What the hell could you do with it? Imagine you had the equivalent in Bitcoin. What could you do with it?

Well, so much more. Yeah. It's not like you shove that and go somewhere to the store and scrape off a few flakes and pay for something. Well, like you said, it can't be moved. It can't be moved in a situation where you need it to back a currency. It's not really going to help at this point. We've talked about this before.

Even the gold bugs admit that in a situation where gold becomes the currency, you're really talking more about ammunition and food than you are about gold ounces. So this stuff altogether is just kind of, it's mental masturbation more than it's a real applicable scenario that might come to fruition. And the only reason that, like I said, the only reason now that you would verify this is to show that you are a nation in control. I don't know. I look around and see what else the US has done or has been doing or plans to do. The Bush years, the Clinton years, you had two Obama terms, you just had Biden in there.

I'm not convinced. Great. terms. You just had Biden in there. I'm not convinced. Yeah. I'm not convinced that they... Again, the sale of the gold seems to me to be just as unlikely as them having all of it. I really don't know where I come down. I can't think of a good reason for them to sell whatever was in there, basically is what I would say. And the only reason you'd ever sell is you were desperate for some reason. It has the ultimate way to create... Well, I don't want to say wealth, but they just print money. That's exactly right. There's no need to sell the gold. And the other thing too, the people,

again, I don't think discuss often enough, marking the goal to market, even if you do that and you're able to somehow get away with the tricky accounting and not do it with any of your liabilities, what does it get you? It's a little shy of a trillion dollars in gold. Your deficit or your debt sorry is 36 and growing. What does it do for you? It doesn't do anything for you. No, it's a trillion?

Yeah. It doesn't do anything for you. No, is it a trillion? Yeah. It doesn't do anything for you. So what's the point? Moving your debt down from 36 to 35, when it takes 90 days to get back up to 36, it doesn't do anything for your books. You just end up selling a rare rock. There's no benefit there.

You can't back your currency with it. It's M2 and M1 are both way the fuck out of control. You can't tell people that it's now available to use as a means of exchange. No one has any. It's not divisible the same way we talk about all the time as Bitcoin is. It doesn't make sense for them to do it. So what is the benefit to selling it, even if you're able to market to market? Nothing. It's just there. Now, what effect does it have on the Bitcoin price? Here's the thing. The Bitcoin price doesn't move either way because if they have all the gold, then that signifies that gold is important to the market writ large and the gold price goes up. If they don't have all the gold, then it signifies

that that government now lied about having the gold because they knew it was important and the gold price goes up. Bitcoin's price doesn't go up in either scenario, in my opinion. So I don't know, these people, again, like the clickbait boys, oh, the Fort Knox, they don't have the gold, Bitcoin price is going to moon. You're retarded. You haven't given this even a modicum of thought. That's not how price action works. There's rarity and importance, and one or the other happens regardless of the outcome. And both are good for gold, which I think is another bit of a calculus these guys have to do before they decide what they release and what they don't release in terms of the audit. So let's see. Can Elon stream it? I

would love to see the inside of Fort Knox. I have no idea what it looks like in there. They probably don't even have wifi inside there. They have nothing. It's such an antique in there, right? Like we should get past security and stuff. It's ledger-level. It's ledger ledger nano S level security in there at this point. Now, I think we should probably give a portion of it to Bybit to maybe make them whole, right? Like let's just be charitable. Why not? $1.4 billion. It's just how many bars is that? Just like in sort of a vacuum truck. Do you think the pilots who are driving these planes full of gold are DEI hires?

So you think they're competent thousands of hours of flying? What's your guess? But they just put the DEI pilots on the passenger flights and fucking kill people instead. What's your guess there? I have no comment to this. No comment. That's what I thought. Okay. Interesting, what I thought. Okay.

Interesting, right? Yeah. Well, actually, talk about fold for people who are unaware. Why the fuck would you ever buy this stock? I cannot fucking figure this out for the life of me. I would rather fuck a garbage disposal than buy any of these things, to be honest. Harsh. I think I'd rather buy the stock than that, but yeah, it's not high on the list.

No, at least I'll get a thrill, one last thrill. Yeah, exactly. It went live on the Nasdaq fold, and it's the Bitcoin Financial Services Company. And it was February 18th. Generous, generous interpretation of the company's capabilities and mission, by the way, Financial Services Company. That's what they claim to be, And FLD is the ticker. Yeah, yeah, yeah.

It went live with the price of around $10 per share. And as of yesterday, it was a little bit under $8. It was $7.78 to be exact as of yesterday. I don't know what happened today. I didn't check, but let's find out. So yeah, let's see if it went closer to its initial price of $10 per share. $6. it's initial price of $10 per share. Six dollars. It went even lower. Anyways, that's too bad. And the company is- Wait, what is it?

FLD? Yeah, FLD is- Fold Holdings Inc, is that it? I think so. Yeah, it is. Yeah, it is. And the one interesting thing about Fold is that they at least have 1,000 Bitcoin on their

reserves. So not many companies go live that have Bitcoin in their holdings. They do. So that's one thing for them, but really just, man. If you're buying for the treasury, you're buying MSDR. We've talked about this a million times. Nobody wants to buy a fucking fold. What's basically a credit card, gift card vendor, like an interface to buy gift cards with Bitcoin. It's a shit company, a shit stock. This is one that is going

to live in infamy. It's just such a bad idea to take something like this public. Such a bad idea. Some people probably made money off this. The people that were on the inside, that they had ownership of the company. Now they could dump it on the market initially for $10. I'm with you. I'm with you. Yeah. Why would anybody want to go public and maybe to raise funds to fund a project? We've talked about this with sponsors of the show, right? Like, LeDin and ShakePay both, I think, had at least meetings about going public. ShakePay probably still on that road, to be honest with you. But they have a way better business model than whatever the fuck this is.

Taking a scalp and doing Bitcoin back on gift. I don't get this. Fold card? Come on. It's just like, give me a break. Could you buy? You know what? I have the Fold app.

I never even used it. I deleted it. I couldn't because the wheel, the spinning the wheel is like five stats a day. And then like, it was good for a while. And you have to have $50 accumulated USD in order to withdraw. Yeah. I'll be there. It's my great grandchildren might be able to withdraw at this point. But you know what? What's decent if you're going to buy like an Amazon card or something like that because there's some cards in there that you could buy and you could use Lightning and you get a percentage back, which is not bad.

That accumulates pretty fast and you get to the $50 threshold and withdraw that. That's the one thing. If you go like the old Navy, Amazon in the States, there's not many Canadian companies, but in the United States, there's a heck of a lot more. Nintendo. I want to ask Boomer in the chat, do you say they're similar to ShakePay? ShakePay doesn't actually have a credit card, right? They have a prepaid debit card.

And ShakePay's model is taking a scalp off of every buy and sell. That's a good model. Whether you agree with the idea or not, that's a good model. And ShakePay is fucking huge. So kudos to them. And by the way, I like ShakePay. I was just talking to Carlo or Carlo's wife, I should say, because she's Brad Mills, the other day. Carlo's doing well. I like those guys. Same with LettIn. LettIn, you may agree or disagree with the loan

model, but that's another good model. And they've been resilient. That's a company that has a model, makes money, and probably could go public. But the idea that buying gift cards is your model and you take that public, I don't get it. That's what I don't get. Because the credit card, like Fold can't issue a credit card. They can issue a master card or whatever, but master card gets a cut of that too. So for Fold to get some, you really got to be paying a high fee. And so I'm unsure about the exact mechanics, but in my head it just doesn't make a lot of sense. ShakePay partnered up with a company

to provide them the visa. It starts with the letter M, I can't remember the name. So I would imagine that they're the ones that are also taking a cut when you use the ShakePay card. Maybe, yeah. They have to, because you have to get into the ecosystem of Visa, and they're not gonna let you come in with, so that company that begins with the letter M,

I fucking escaped me now, they're the ones that provide them that interface. And so they're taking a spread it, or sorry, cut it every time. Also, like as a general rule, like you like getting, you, Len, like getting Bitcoin many different ways. Would you ever go through this process?

Go to fold, buy a gift card, go back to fold, use the fold card and the gift card to buy something, get some extra stats back, or would you just buy whatever you're buying? No, no. I have... Because Sabrina, growing up, like it still is, they grow like weeds, kids. And we have an outlet that's close by Old Navy, and we use that. And we've done quite a bit. So I've gone purposely to buy the gift card from Fold. And so I got the stats back from that, because I knew I was going to go to Old Navy. So I've gone through the process. How often do I use it? Very infrequently, let's be honest. But I, you know, I, I knew it was going to be as it might as well, you know, might as well get some free sets back from that. So and I, if

you use it enough, the $50 minimum for withdrawal, it could be pretty damn quick. The problem in Canada, you don't have that many stores you could use the gift cards. If you're in the States, it's a wide variety. And Amazon is one of them. So if you're buying from Amazon, right? Like might as well, you get free Sats back. Yeah. Take the ride in the chat. First of all, good to see you. I haven't seen you in a while, TTR. I won't use your real name. There's a membership fee for Fold 2, he says. I don't know. I know when I- The card maybe for like the card itself. Maybe there's like another fee. Maybe.

It's just like constant rent seeking. It's fiat. It's all fucking fiat. That's all it is. They're just trying to link fiat with Bitcoin somehow. But the reality is just fucking buy Bitcoin. That's the best thing. Don't buy this FLD stock. That's my opinion, not financial advice. Do it. I fuck you. I want to do it, but you know what I'm going to do. Quadruple P in the chat. Can you download the app in Canada? No, I don't think you can anymore. I deleted it. I'm pretty sure I can't get it back unless I VPN. You can't change your Play Store location very frequently. I think you only do it like once every six

months. So be careful with that if you're on Google. Well, yeah, VPN it all the way. And I don't know why anybody would want to not be in the United States with a VPN. You get so much more. I don't know. I just prefer that. This is me. Last story, Joey. Let's talk about this last one.

And this is from the person that brought us the bid ax. This is Scott9000 on X or Twitter. It's crazy. This is crazy. Have you seen the video to go along with this, by the way? I've seen the... It was like a generated picture. I'm going to find it.

I'm going to find it. Keep talking. So it's a new project called Ember One. And it's a new version of, I guess we could call it Bitax. And it's going to have 12 chips of the S19 Pro on it and it will be hashing between 3 to 3.6 tera hash per second and all coming from around 100 watts or so and the product is available on github not yet released when I last checked I'm not sure if it has so I don't have any pricing associated with this but it's another way that you can mine Bitcoin do solo mining

I would suspect you're not going to just join a pool and get your 300 sats a day or 200 sats a day with this It's very efficient very quiet I would imagine and it's just it's making mining more Decentralized and that people like us can do it and just have it in the office Aha, there's the video if you mind playing it. Okay, strap in. I know there's like too much digital noise when I get this mic too close to the screen so bear with me here. I'll move back in a sec but listen to this. This is wild. Can you make these bigger?

This is a hash board out of a, this one's out of a S19J Pro It has a lot all these black squares are the ASIC chips It has lots, but you can see I removed some of them up here But there's three of these normally in a minor. This is about a thousand watts This is the Ember one that I just put this together last night beautiful that yeah, it's super cool So much smaller, way less chips. In fact, this has 12. It's targeting 100 watts. So it's a 10th of a single Antminer hash. And there's three of those hash ports in the S19s.

This part would be underneath the heatsink. We got another cool factor is we got USB for data. So you could just plug this into a computer. I haven't started them on yet. That's where the power connectors go right there. This is gonna be pretty cool. And then for reference, this is a bit X, which has, it has the heat sink and fan on it,

but there's just one chip under there. Okay. Very cool. Hey, that's awesome Scott. Good job. Thank you, man. I haven't plugged it in yet because I actually forgot one part but we'll get that sorted out ASAP. Yeah. So yeah, this is good for people out there that want to have more and you have the ability rather than buying multiple bid axes. I don't know the price to this for this thing but I would suspect this is going to be a cheaper alternative rather than buying multiple bid axes, I don't know the price to this for this thing, but I would suspect this is going to be a cheaper alternative rather than buying multiple. You just buy one of these Ember ones and you'll be hashing out far greater than just doing

anything else. So it's just more opportunities to mine from home, very low wattage, very quiet. Guys doing great work. That is unbelievable. This guy's in his fucking house building home miners so that we can decentralize the network. Where do you see this in any other silo? Any other profession? Any other...

This is gone now. There's no one... I shouldn't say no one. Very few people building things to try and chip away at corporate centralization and finance. This is a guy, he's been on the show, I think. We got to get him back on to talk to him about this because this is huge, man. I cannot tell you how great this is.

It's unbelievable. I can't wait to get my hands on one of these. I'm going to buy one for sure. Let's end it there, man. I cannot tell you how great this is. It's unbelievable. I can't wait to get my hands on one of these. I'm going to buy one for sure. Let's end it there, Julia. It's already an hour and one minute in. That's not blessed. I'm actually shocked that I haven't had to go to the washroom. I took some Metamucil at like two o'clock, so I'm going to have probably an absolute fucking blow up when we're done recording here. You don't have a bucket or nothing nearby just in case? You can't see underneath.

And if you time it right with the clap of the thunder outside, if it's ever just like Peter Griffin did, then nobody would even except for the smell. Oh God. Yeah. Can you imagine? Okay. Let's go to the notable stories. If you're on video, YouTube, Twitter, thanks for stopping in. Every week, a couple hundred people watching, which I really like. Hang in. We'll do the notable stories right now. If you're on audio only, come back for the rest of the podcast tomorrow. Until then, take care of yourselves. Don't be a gold bug.