The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - ADAM BACK IS SATOSHI NAKAMOTO maybe idk | CBP 260 Pt 1

Episode Date: April 14, 2026

Adam Back Satoshi Nakamoto — the New York Times investigation claims to have found Bitcoin's creator. We break down why it's clickbait. Plus: Iran accepts Bitcoin and USDT for Strait of Hormuz oil tanker tolls, Trump's World Liberty Financial meme coin disaster, and Canada's Liberal convention drops an exit tax bombshell.On this episode of the Canadian Bitcoiners Podcast, Joey and Len dig into the biggest stories of the week across Bitcoin, geopolitics, and Canadian politics.BITCOIN STORIES:The New York Times published a massive investigation claiming Adam Back is Satoshi Nakamoto based on weak circumstantial evidence like double-spacing and the word "dang." We explain why the trail is ice cold and why real Bitcoiners stopped caring about this years ago. Peter Todd, Hal Finney, Len Sassaman — the usual suspects get mentioned, but nobody's signing a message from the Genesis block anytime soon.A Bitcoiner lost over 5 BTC to a fake Ledger app downloaded from the Apple App Store. We break down exactly what went wrong, why you should never enter your seed phrase into any internet-connected device, and why Ledger's confusing app naming made this worse. This is a brutal but necessary reminder about self-custody security.Iran is reportedly setting up a toll system for the Strait of Hormuz, charging $1 per barrel of oil — roughly $2 million per supertanker. Payments accepted in Chinese yuan, Bitcoin, and USDT. We discuss whether this is real or saber-rattling and why no confirmed Bitcoin transaction has surfaced yet.Trump's World Liberty Financial token holders are getting invited to a Mar-a-Lago dinner on April 25th — after enduring a 95% drawdown. The project borrowed $75 million in stablecoins using their native token as collateral. We compare this to Terra Luna and FTX and explain why this is a disgrace.JP Morgan is launching a Bitcoin ETF at just 0.14% fees, and BlackRock is rolling out BITAS — a Bitcoin covered call income ETF. We explain why covered call strategies bleed over time using MSTY as a cautionary tale, and why you should just be buying corn at these levels instead.YouTube continues nuking Bitcoin channels — Bitcoin.com, Bitcoin All Caps, and Bitcoin Magazine all got hit recently. We discuss the broken incentive structure, bot-driven reporting, and why building on centralized platforms is always a risk.Nunchuk released an open-source CLI for AI agents to manage multi-sig Bitcoin wallets. We discuss why trusting AI with irreversible Bitcoin transactions is a terrible idea given how unreliable these models are week to week.CANADA STORIES:The Liberal Party convention featured a former Google executive proposing exit taxes and closing TN visas for Canadians leaving the country — despite the fact that he himself used those exact programs to work abroad. We tear this apart through the lens of The Sovereign Individual and explain why the state is losing control.The Liberals also pushed a social media ban for anyone under 16. We explain why this creates a surveillance honeypot and won't stop a single kid with a VPN and some Bitcoin.Rosedale residents are now paying $200/month for private security patrols after a 30% spike in home invasions. We discuss what this means for the future of policing in Ontario and draw parallels to South Africa.Three Canadian by-elections are happening today. We preview what a Liberal majority means for the next three years under Carney.🔗 SPONSORS & LINKS🟠 Bull Bitcoin — Buy Bitcoin directly to your own wallethttps://mission.bullbitcoin.com/cbp🌐 EasyDNS — Domain registration & EasyMail security.Promo Code: CBPMedia (50% off first cart)⛏️ 256 Heat — Heat your home while mining Bitcoin256heat.com📚 BTC Mentor — Bitcoin security & inheritance planninghttps://btcmentor.io/aff/90/📢 SUBSCRIBE & FOLLOW🔔 Subscribe for weekly episodes every Monday night💬 Join the conversation in the comments⚡ Boost us on your favourite podcasting 2.0 app

Friends and enemies tonight on the CBP. We reveal that Adam back is Satoshi Nakamoto, a CBP exclusive. We've done all the research. We've done all the work so you don't have to. It is Adam back. Don't worry about what anyone else says. Plus a liberal majority plus some other stuff. It's a wild world.

So why not just hang out with Len and I as we try and navigate the madness? Here's the intro. And so the government can say whatever they want about this thing not competing. It's for black market only. It's for this for that. But they're really treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF.

Can't be exposed to that. That's my view. It's not a good idea. And by the way, that'll hit MSTR too. It'll probably hit other stuff as well. Friends and enemies. Welcome back. Canadian Bitcoiners podcast.

Friends and enemies, welcome to the CBP. Want to be better informed. Listen to Len and Joey. Spots is taking care off right off the top. Oh, Bitcoin and Easy DNS, the media is feeding a slop. Welcome back to the show that never ends. I mean, where do you want to start, really? I mean, we're like unlimited content here this week.

We could talk about literally anything. Yeah. You know, so where do you want to start? Well, I think it's a good time to talk about the sponsors, right? Probably the best thing. There's so much to talk about. We don't want to leave them hanging, right? Our guy, Mark, Jeff DeVick, he's DNS, lead sponsor, flagship sponsor,

call it what you want. Mark's been with us for a long time. We're good friends with Mark. We've done a lot of work with Mark, and we'll continue to work with Mark. If you haven't done, if you haven't built a business, okay,

you've even thought about starting a blog, a podcast, Shopify store, whatever, okay? What are you waiting for? You can go on any AI bought and get a pretty good business plan for a product that you want to start, okay?

Maybe you want to sell t-shirts. You want to sell shoes, pictures of your feet. Maybe you want to sell, you know, pre-planned tours to the Western Wall. I don't know. You can do anything with AI these days. And once you have an idea, you need a website. And Mark can help you with that. He's a domain registrar. He's your friendly neighborhood domain registrar. At EasyDNS, you can do websites. You can do virtual private servers. You can do OpenClaw, a little bit. You can do easy mail, domain share. All these things that you can do to move and sort of start your journey toward fuck you money. You know, if you want to get to fuck you money, you got to start a business.

Okay. And I'll tell you that Mark is a guy you want to align with if you're doing that. So go to Easy DNS. Promocode is CBP Media. You get 50% off your first round of buys. You can't beat that. Not anywhere I know anyway. So go start.

Go go see what you're made of, man. Find your tribe. See what your chops are like and get in the arena like Chimath says. Who's the other sponsor? Bull Bitcoin. I took a look at the price of Bitcoin before we started the show, and it is slowly creeping up. People are buying, big companies are buying.

Are you doing the same? If not, why are you waiting? You should use bold Bitcoin to do that buy. They're not custodial. This is what you want in an exchange. You don't want to get rugged, and you don't get that opportunity to get rugged with bold Bitcoin because in order to do the buy,

you've got to provide a Bitcoin address and a few minutes later, it gets sent over to you. That's what you want in an exchange. Being non-custodial, they do offer a few different things, like reoccurring buys. You've got limit orders. you could do auto buys, a lot of different things. You could even pay bills with your Bitcoin.

They're expanding as well. We talked about it. They're going into Western Europe and Latin America. Somebody's in Costa Rica using a referral code, Joey. Costa Rica Cologne. Yeah, I like that. That's one gentleman over there. The currencies we get the referral fees.

Thank you very much. But with that being said, if you're not a bull Bitcoin customer, what are you waiting for? Do it. If you want to, user referral link below. And by doing so, signing up with our code. All your buys and sales are going to be cheaper moving forward.

And of course, you can sell your Bitcoin over there if you want to. But why would you? Insanely private. I know we don't often talk about the sponsors past the reads, but there's a tweet from Francis that I want to talk about. We just talked about it on Bitcast. And so I'm going to bring it up here too. I was cracking up.

If I can find it, here it is right here. So Arkham, which is a service we've talked, about before is like an on-chain analytics, you know, firm. They do a good job or think they do a good job. Tracking, you know, what's what, who's got what, who's looking at what, how many accounts does finance have, Coinbase have, shake pay have, whatever. And Francis is looking at the Arkham evaluation of the Bull Bitcoin wallets. Is it a fucking mess? Len, it's incredible. So this is way too small. I don't even know if I can zoom this. I think I can. Can you see that better now? it's better but not great.

Okay, so this is basically, it says this chain analysis service has been unable to track Bull Bitcoin's wallet movement since 2016. So when we say that Bull Bitcoin is private by default, okay, this is what I mean. Can you see this graphic, Glenn? This graphic, okay, shows that Arkham since 2016 has not had any idea how much Bull Bitcoin has at any time. They've not been able to see even a single transaction. What's the moral of the story here? I don't want to say they're full of shit. Whatever they say or they feed you, take it with a grain of salt.

Maybe. When you hear that they say that Tesla has this or... But the other thing is a Bull is private. Bull uses coin join by the fault, right? Coin join is enabled no matter what they use liquid, which tells you that there was a transaction, but not the volume of the transaction. So, like, I cannot stress enough how good bull Bitcoin is. We are obviously sponsored by that.

But, man, if you find a better exchange, tell me. Because so far, there ain't one out there. And I don't think that's going to change anytime soon. Yeah, we're not starting one up to compete against them. So don't worry about that. We're not vibe coding exchange. What's next? You don't do boost or anything else?

Boost. It's a boost. A MoBTC dick 500 sats. It says it's time to start testing a quantum-resistant fork. That being said, it's not 911, and we should take our time and get it right. Rushing a fork will never turn out well. Thank you, Moby-TZ. If you don't want to rush, we should start doing it soon.

And North Star Chris 750 sats. He says, I'm fucking jealous, by the way. I nearly have my 0.21 Bitcoin and set to retire on a tropical beach. Fuck you, buddy. Now it looks like I'll need five whole coin just to pay the egg. exit tax. We'll talk about that later on. Man, you imagine that. Like you took your whole life to accumulate 0.21 Bitcoin.

You're finally ready to retire. And then you're like 4.8 Bitcoin shy. A guy in a three quarters at Patagonia sweatshirt tells you got to pay 500K to leave the country, even though he left the country when he was your age. It's not about what I do, do what I see. That's right. I want to say what that is. That's right.

You know what it is. Bonn with the Bitcoin B for Bonn. 1337, Sats. He says, who gives a shit what Dick Farter has to say in 20206? No one's having him on a quote-unquote Bitcoin podcast anymore because the dude burned his rep years ago. He's a grifter,

just engagement farming in typical blue check fashion. He ripped at a new one here. What did he burn his rep on? There was something. Like, I was mentioning last week something so it was fishy with him. There was something. And there was a meme that came out from him, wasn't it? It was this Rising Star meme.

It was a different meme, too, beyond that. But you know what? I have not found anything. I have not found anything that makes me think he's like a compromised guy. I'm not saying compromised. He's a grifter. I mean, I don't really believe that either. You don't have to be compromised to be.

You could be compromised and a grifter. Yeah, I don't think he's a grifter. It could be, you know, one or the other. I think Bitcoiners are like obsessed with this for some reason. I don't know why. But I don't view it. What's what? The Nick Carter is like a bad actor or whatever guy.

I'm not going to put him in a category where I'm going to trust what he says or I give a shit what he says. I'm with this man. Bond is right. Dick Fartre who gives a shit. He's a stay in 2026. Hammer Town O.G. 2,500 stats.

This is the last one we have for a week. Made needs to remain available to patients of sound. mine who request it independently of their health care providers influence. Yes. Allow it as an option, but stop doctors from making it an initial offer straight out of the gate. What happened to first, do no harm? Another great show.

Keep up the great work, fellas. Thanks, buddy. Appreciate that. Yeah, Maid. I mean, obviously it needs to be an option. I think that's true. I would also even argue that the people who complain that, like, family wasn't consulted when Maid is on the table.

I don't think it's up to the family. It's up to the one person. that person wants to talk to family, they can. If they don't, they don't have to. I also agree with that point of view. But yeah, I don't, I don't understand why it's being offered. Like, that lady who climbed a mountain after the made offer, you know, like, that's, that's a bit much. They want to review that case, see what went wrong. I do a little, do a little post-mortem, as it were, you know? That's it for me. I have nothing else. Really died. Good stuff. This week I'm talking to castaway Ryerson professor whose name I don't have at the moment just

fired for his views on woke very recently two weeks ago I think Dr. Orrin Emmetay. So I'll be looking forward to talking to him on Thursday night. I don't know when that'll release. Usually I give Andre, Andreis, the video and he takes a couple days with it. So let's say early next week we'll try and get it out. I think that's probably pretty reasonable. And then if you haven't already watched our interview with J.P. Berg and Payman Ascari from Philosopher's Slocut, Teddy Berry. You should watch that too. I did that on the Thursday before Easter. It's quite good. And those two guys are guys who I'll be watching as they continue to try and affect change in Canada. I don't know how much one off-hill battle they're willing to endure, but they seem to understand that money is at the root of the problem and that there's stuff that needs to be done, which I always appreciate. That's it.

Off we go. Well, I got to say one thing before we start, Joey. If you're not down with the CBP... Wait, wait, wait. If you're going to the Tom and Nick thing this weekend... Oh, I'm going. Are you going to... Yeah, I'm going to go.

And then I'm going to go see the boys out there for a very private lunch that not everyone's a way too. Sorry, not me. I'm going to a 94 tournament. Anyways, yeah, but if you're not down with the CBP, I got one fucking long acronym for you. M-M-I-W-G-G-G-4. 2S-L-G-B-T-Q-I-A-plus, buddy.

Are you playing the music? Copyright strike coming up. That's what I got to tell you, man. Just one more, yeah. Bring it on. Oh, God. What a time to be alive. I love that clip.

I love that clip. Are we talking about that notable North? We got to talk about the state of affairs in the Aboriginal community. that's in a whole other segment. We're looking for another sponsor for that. Can I talk about Adam Back? Yeah, sure.

Let's do it. You mean Satoshi Nakamoto? I mean, who could have thought? I'm shocked. As an aside, okay, Adam Back is a top five guess for Satoshi Nakamoto. So I want to start there. As a top five guess. I don't think it's Adam Back, but there's not that many people that could be.

He's one of the people that it could be. Maybe. Yeah. But like why? Like why do this investigation? I guess clearly, did you read it? I tried to read it all. I did read it.

Do you know what the interesting thing? Not the whole thing, most of it. Do you know what the funny thing is about this? Do you know what that reporter's famous for? Clickbait stuff. Uncovering Theranos years ago. So Theranos for people who are not familiar, there's a lot of younger listeners for this show I can see in the stats.

Theranos was the Elizabeth Holmes company. This sequence your DNA with a drop of blood, do it at your house, blah, blah, prevent diseases, all these different things. Turned out to be a total scam. And really this reporter was the linchpin in figuring that out. She was the one of the investigation. Lightning in a bottle, right? Maybe.

Yeah, maybe. Who was that guy at Burry? Like Burry, yeah. Since then, has he been lighting it up in terms of picking? And I actually think that was when New York Times was probably at the peak of its powers too or close, you know, since then things really fall apart from them. I'm just shocked. It's not Peter Todd this time.

Didn't we have this HBO document? Amazing. I know. I know. And then, you know, now we, I'm surprised Craig Wright didn't make the just kidding that motherfucker. Clearly he's not. I mean, your buddy Nick Carter makes a decent point that eventually AI will probably be able to help figure this out with some level of certainty that we're not used to seeing. But I honestly believe, I'd be curious. We don't have to talk about the investigation story.

It's obviously just nonsense. They try and pin together a bunch of weak arguments because they don't really have a good one to really sit on. It's a bunch of small ones. The fact that he used C-plusplies. That's right. Double spacing and stuff like that in his comments. Like just complete nonsense.

The certain phrases like, dang. Yeah. Something like that. I don't know anyone who says, dang, except Satoshi Nakamoto. Is Kirk Cousin, Satoshi Nakamoto? Could be. Kirk Cousins also never swears. So.

You have a quarterback? Yeah, he's a quarterback of the Raiders now. Let me ask you this. Okay. I'm Runevich. Are we done? When are we going to be done? with the Satoshi investigations.

Because like I said, there's only really like, there's like five people who could be. Two of them are dead, right? Ben Sassas or Lensassaman and Fini are dead. Todd and back are on that list too. And then the other one is like who, you know? Banglatoi. Remember that guy?

Or Dorian Nato. Remember that guy? You forget Benglatochi. I remember him. The guy was like screaming in front of a class in India or something like that. I can't remember the video. England. I thought it was in London.

I remember the video. And he was talking about it that he programmed Bitcoin and it was, he did, he had to pay to go to his event and very few people showed up and he showed very little confidence in terms of or displayed very little competence in programming Bitcoin. So anybody's going to say, I'm Bit on Satoshi. Fuck off, right? Like you approve it, sign a message.

It was sick. He did rip like this trick. Oh, see, I'm, I'm kind of a major. Why would have to sign a transaction? I like that I stumped on my hard drive I was angry that day

I'll pull my thumb up for the people who are listening on audio since no one listens on, no one watches these stupid videos listen It could be anybody Yeah but it's but like it's not going to be anybody It can't be anybody It's got to be somebody who is on the Bitcoin talk for them

It's somebody who understood the cypherpunk stuff It's somebody who was like in that realm The Chommy and eCash spin is another decent you know, add to the discussion. The thing is who fucking cares at this point. That's a question. Only the people who are not in Bitcoin care. You know, you know, the people that will care, the people that are not in Bitcoin

or the people in Bitcoin that just have some sort of a fascination about this. Yeah. I'm not one of those people. This could be the devil himself reincarnated that created Bitcoin. It doesn't change. You're still all in. You're still going to try and get to 0.21 to retire. Oh, 0.1, my friend.

Oh, sorry. 0.2.1, that's a pipe dream. I got to work for... I saw a video today that said if you had 2.1 Bitcoin, you're in the top 0.1% of the elites from some guy. I don't know who the guy is. Is it 0.21 or 2.1? 2.1. 2.1. And then you're in the 0.1.

Yeah. It's over for us. I don't know about you. I could tell you fuck. I'll get there one day to 0.1. But I have nothing else to really add about this story. I mean, the only thing, like, we'll probably have a better chance to see like who figured out who framed Roger Rabbit or maybe the caramel milk secret maybe we'll get that before we figure out who the fucks

like this thing is this the trail is so cold now I don't think it's possible to figure it out it's so it's so cold is that a Halfini reference is he's cry it didn't be cryogenically frozen yeah I don't know something I don't know yeah I don't care I actually don't care about this story We led with it because it's got the highest, like, you know, virality potential.

But to me, it's like, to me, it's like, it's people who are not in Bitcoin who care, right? Bitcoiners are thinking about more important things now, finally. And I just am just curious what the, what was the net revenue, net benefit for New York Times running this story? Who's reading the New York Times who cares about this? All the people that don't read the New York Times, clicked on it and read it on not only on. I mean, I just used the archive link. I think everyone else used the archive link too. You just steal it.

No, I didn't. I went on it and read it normally. I don't know why it didn't block me. And not only that, I went on the link from Twitter. So they got a hit on there. I don't have the blue check. So they didn't get that. But, you know, they still got at least one impression.

So you know what I mean? If they throw it something viral, it's hot-shutting the territory type of thing where it's good for business short-term, but long-term, it's fucking shit. So you got to think long term, not short-term. Agreed. Agreed. It's ledger scan. Let's talk about this ledger scan. Sure.

It's not a ledger scam, really, for the sake of it. Ledger is loosely associated with it. He's like, because by name only. Some dude lost, I can't believe, Glove is his name, G. Love or Glove. That was a very good Twitter handle, by the way. Back in a day, probably got it. Zee said that he lost everything because he downloaded a app on the Apple store,

I think through his Mac. I don't think there was, did it? with his iPhone. The Dumax, they have Apple Store associated. Separate. Yeah, it's separate store. You can get like desktop apps. They, you know, certain apps have a mobile version and desktop version.

So you can, like the store will funnel you to whatever one, uh, works to the device that you're access to the store. So he lost, it was like five Bitcoin and the talking like, you know, obviously nobody's going to fucking get a ledger app. straight from Sparrow, oh sorry, straight from fucking Apple. You have to get it from Ledger itself download. I think, you know,

I don't know if that's true. I think Ledger has an app in the app store. So, presumably this guy... Really? I haven't used Ledger in Florida. I'm going to look right now.

I'm going to look right now. Ledger Live is in the app store. Isn't that? I don't know. Ledger Live is fucked up because he entered his keys. Ledger Wallet Crypto app formerly Ledger Live has

2,000 reviews. That's the one. So it's in there. And it's poorly named. Like, this is very poorly named. It should, it should not say ledger wallet. And then in small letters, crypto app. And then the formerly ledger live, like, that's very, very bad.

The guy probably thought that was fake. To be honest with you, like, I would think that was fake if I was looking for this. So when he did it, he was asking for his keys, obviously, because without providing the keys, this app wouldn't have been able to steal his Bitcoin. There is no app out there. none worth its weight. If you're starting from scratch, it's one thing, but if you're setting something up,

you know, you're not going to be putting in your keys like that. You've got to do it say, do it air gaps, you're like that. If you're starting something from scratch, okay, it's going to generate keys for you,

you're going to see it. But I want to generate keys on a phone. I want to generate keys on a computer that's hooked up to the internet. So there's better ways to do it. I would generate those keys on a cold card myself that's never been connected to the internet. will be connected to the internet. So this is a very expensive lesson for this guy. This guy

essentially lost his life savings, his retirement, and he's going to start from scratch. Learn from it. Never ever, ever enter your keys in a device that is hooked up to the internet. Never do that. If you do, you'll be a story we're going to read the next week and we'll be laughing at you. No doubt. I'm laughing at this guy you love. No doubt. I don't know. How was it possible that in 2026 people are still entering keys in iPhone apps or Mac apps? How is it possible? How can this be? There's a million tutorials on Ben's channel. There's a million horror stories of this happening. There's a million ways to verify apps with the companies who should be, you know, publishing them, promoting them, et cetera, et cetera. And yet still, you take with what was the

number five Bitcoin? It was over five Bitcoin. So like the guy with a significant amount of money decides that he's going to rush through it. He's got to go to the fastest app, the first thing in the results. Is that that's what I'm hearing? Like what's going on, man? What's going on? When you're talking about any decent amount of wealth. Yeah. Stop. Realize what you're doing. Research the fucking thing. Yeah. Research it three times. And then make sure you do it correctly. You just shouldn't be using a ledger generally anyways. There's been enough enough smoke over there that you don't want to be caught in what will eventually be a pretty big fire. But even if you do use it, like the keys thing has to be the stopgap, right?

Like you can't as a bickoiner, as a technologist, whatever. Like you can't be the guy who puts keys into an app. It can't be. John is 100% right. He says, now the guy can't get out of Canada. He had an exit plan. Done. I don't even think he's in Canada, by the way.

I see Bond right underneath him, too. Failure to follow instructions. That's exactly right. It's just a complete failure. You rush through something like in the heat of the moment just made a mistake, I guess. But yeah, good luck with that, man. Yeah, good luck with that.

Iran, let's talk about Iran. Sure. And the new toll booth that's going to be set up for the Strait of Hormuz. And so if one has a fully loaded tanker, they want to bring through the Strait of Hulmoos, get ready to be paying quite a bit. Apparently it's going to be $1 per barrel of oil. That's what they want to charge.

And for large ships, that's going to be $2 million because they could hold about two million barrels of oil. That's crazy. The more I read that number, the more I'm trying to picture how big those ships are. They've got to be like the size of small cities. And they are slow moving targets, right? So if you think you're going to try to evade these drones, good luck. And it's not like you have a payload that isn't flammable.

If something happens and it goes up in flames, you're gone, you're done. But they say that the payments, if these ships want to pass through, they could be done in the Chinese yuan, Bitcoin, and U.S. dollar tether. Petro Bitcoin. Never thought of this, but I say bring it on. I think it's a pretty cool thing. And shipping companies, if they need a bull Bitcoin referral link, feel free to reach out or take a look at our link. I'll be happy to guide you there if you need help. But the question is why USDT, right?

That stuff could be frozen. It's a centralized thing. But, you know, they say they want to have payment done quickly after approved. They want to give approval seconds later, or they say seconds later, they want to have payment done. So it's easier to move stuff quickly with tether than stuff like Bitcoin. Then, you know, Bitcoin, though, they say that they'll keep the USDT. This is the theory. Actually, they didn't say this is the theory.

They'll get the USDT. convert it to Bitcoin right away and deal with it at a later time because that cannot be seized or frozen or whatever. So they'll be able to front run everything by just moving the USDT quickly before anybody could find it and then it's gone to Bitcoin and they could just do with it at the best. This is all speculation. Let's see if this goes into practice. But what about Bitcoin though, right?

If they want to accept quick payments, I don't know. I mean, blocks sometimes aren't built in over an hour when we get unlucky. Yeah. So using onchain, clearly is. Well, apparently they're giving some time. I don't know how much time, but. I don't know. Yeah, I don't know.

The bigger story is that there's not been a confirmed transaction in Bitcoin yet. So something to sort of keep an eye on. I know obviously, like, I just finished doing Bitcast with the guys. And like, you know, I always say, show me a confirmed transaction. Okay. Love the story. Love the demand. Love the Bitcoin angle.

But show me a confirmed transaction. Because until I see one, this is a saber rattling for. from a country who is pro-Bitcoin, anti-USD, anti-America, and trying to, you know, rile up. Why would they want to show this? If fucking micro-stratity is publicly created. They wouldn't have to show it. They wouldn't have to find it. Somebody could find it.

They could obfuscate this quite easily, though. They could do it in small transactions. They could potentially put it on lightning and take it out in multiple ways. There's lots of different ways this could be done. So trying to find it is proverbial little in the haystack. The transaction from the transaction from. the transaction from like the ship to Iran maybe, but what about from the, what about the transaction to the tanker? You know, like those, like there's a lot of ways to trace a transaction that might be related to this toll.

So if you're a ship operator, are you going to even consider Bitcoin, right? I think not. The way I'm imagining is USDT is probably easier to wrap their heads around because it's supposed to be backed one to one. So the concept of that, the fact that it is centralized and you could maybe get some specialized intervention if need be if you're rattled the right cages. I think USDT might be the course of payment they want to use if this is true story and if they're going to use anything and USDT would be that. That's my thinking. And then if that happens and if it goes to from USDT to Bitcoin, good luck finding it. All they would have to do is just doing it in a few small transactions.

actions were, I'm not exactly sure how USD-T-2 Bitcoin would work, but I'm sure there's ways with cross-chaining and shit like that. There's a lot of chiquinery that you could do something that you could hide your tracks. And, you know, Iran, they're backed into a corner. What options they have?

And imagine being able to use something like Bitcoin, which they can't get frozen, that they can't get shut out. And they could use that. Within that sphere of influence they have, with Russia, with China, I think Bitcoin is probably going to be more easily to be used there than anywhere else in the world.

World Liberty Phi token. What about... Oh, we could talk about that motherfucking story if you want right now. We'll talk about it. I got two things I want to mention to you here. I just looked it up while you were talking. How big do you think the super tankers are as far as length, the oil super tankers? Even if you give me a number or it's not going to be easy for me to compute.

I got a couple of comparisons for you, just in case. The biggest oil tankers are about 300. 130 meters long. Three football fields stacked end to end. They're so big and so heavy that it takes them 13 kilometers to come to a stop.

That's a par four. Yeah, yeah, exactly. It's a big ship. I don't know why there, but it's a big ship wide and deep, right? It's quite a feat of engineering these things. That's not vibe.

So that's a decent size par four. That's fucking huge. That's what two million barrels, which waits to. That's right. Anyways, I thought our heads would be spinning around because all the winning we've been doing.

Golden Age. Here's the CBP, Golden Age Update. Going to a Shik, not going to, hosting a Shikkoin conference, right? A meme coin conference? hosting it? Oh, yeah. First up, he's going to be, well, talking about the one in Mar-a-Lago.

Yeah. Yeah. So that's the top 20, sorry, top 297 Holders of the Trump mean coin are going to get an invite to a kick-ass party at Mar-a-Lago or April 25th. All you had to do for this, you had to endure a 95% drawdown. That's all you had to do. But if you did that, you're diamond-handed.

You're going to see the golden toilets over there. And this is described as, I'm not using these words loosely. I'm fucking just verbatim reading them out. the most exclusive crypto and business conference in the world. Crazy. I'm fucking sold. I almost want to just sell my almost 0.1 Bitcoin buy as much World Liberty Financial as much as possible.

But nah, I'll pass. This whole thing is a disaster. Then these fuckers, they borrow the 75 million in stable coins on top of that. Is that not? That's not kosher. You know, what a story.

you want to about Biden. You know what? He didn't really do the right things. But really, the system ran itself for the most part. They wheeled him out there. He forgot where he was, he walked the wrong way, shook hands of the wrong people, whatever. This guy, this is a fucking sitting president forcing a large country to stop importing oil and a neighboring country, natural gas, increasing the price of fuel, food, all that

shit. Now, what is he doing? He's shilling shit coins. And he's on that board on the fucking he's like, what is this? What are we looking at here? Like, could anybody say that this guy is doing a good job this time around? This is pathetic.

Was first. And the sad thing is we're stuck in for another two and a half plus years. It's not like he's going to, he's thinking oh, I have a long runway ahead of me. I'm going to do what I can now. And then I'll run again next election there is no another election to run again this is it he's going to balls to the

wall for him do everything he wants to do make sure that all his buddies and himself make as much money as possible and of course the people that are kissing walls you're going to obviously get their thing in this mix here but what do we have like we're fucked and we're not putting this guy this is like terra luna shit right that's when i see this borrowing the stable coins and using the the native token as collateral. Like FTX did this with FTT. Tero Luna did this with the fucking Luna propping up the algorithm

stable coin. I can't believe this guy is not getting called out for this kind of bullshit. He is. He is. That party on April 25th, he's doing that in lieu of some other political event that he should probably go to. He should have a full schedule right now that has nothing to do with

World LibreFi, for sure. Yeah, but this is taking at least priority in him because he's going to put aside one fucking evening to do this. Where is his priorities? What is he trying to achieve here? I can tell you what they are to make him and his family and his friends richer as a result. You're going to be the fucking you are the people paying into this. You are the yield.

Fuck that, man. What's worse for you? The World Liberty Fy grift or Hunter Biden Burisma grift? I'm not familiar with the second one. He was on the board of some Ukrainian energy company for a long time. Oh, I'm kind of from a... Yeah. What's worse?

Hunter Biden, at least a practicing attorney, I believe. The Trump brothers, I don't know. They're all crap. I mean, I shouldn't say he's probably not practicing. He's probably not even licensed at this point. But at least ostensibly, you know, he's at least past the bar. See, I don't want to rank which is better with. It's all crap.

And the fact that we have to deal with this and almost accept it, this type of thing he's losing a lot of support though then it's not a free ride anymore who cares what does he have to live for in terms of his political career he could lose the house

he could lose the Senate whoopty do he's still the president he's still going to be able to do these attacks without any any approval from Congress so like what the fuck like this it's like

it's dictatorship in a way just like, I don't know, some other areas that become, you know, I don't want to say it. But you know what I mean? Like, what the fuck? But this is where we live in. I think we're living in it right now here, but, you know, I don't want to get myself kicked out of. I'll save it. Save it for later.

No, no, I can't even say it later. I'm afraid. I just try to leave it as vague as possible on purpose. That's the world we live in. Yeah. One day when I can't fucking wait. One day when I'm fucking. gone. I can fucking speak my mind. Oh my God. It's going to be a fucking good day. But until then,

I got to mine my peas and cues. It is what it is. Where are we going next? I want to talk about Morgan Stanley with this new ETF? It's kind of like... I like it because it's very low fee. And I will, I just say to people that there is a competition, obviously, in the finance world to have the lowest fee ETF product. That's really a major selling point of almost every ETF is what are the fees. This is 0.14% I think very, very, very, very low. But the other thing I would point to is that every ETF, regardless of fee, regardless of issuer, regardless of partnerships with different banks, has grown since their issuance. So this is kind of neat. J.P. Morgan obviously is a bank in and of itself.

So they don't have to go through another point of friction with their managers, with their clients. They can say, look, you want Bitcoin? We got an E.m. It's the lowest fee. And that's going to be enough to sell it. I don't know what people are buying ETFs and not M.I. But if you are a buyer of the ETF, you got to feel pretty good about this product. And I think they're going to be a big player at the table.

I mean, why would they not be right? J.P. Morgan doesn't just hang out to hang out. They don't mill around. They run the table. So let's see where this goes. Why don't you think that the ETF is, if you have to pick something, it would it be a safer option than MSTR? And the reason I say that is because you're not dealing with any risk to do with sailor or the company itself.

It's for the boomers. Yeah, it's for the boomers. Yeah. So, like, this is going to be opening up a lot of their wealth management. Oh, totally. Totally. And they have trillions and assets, right, that they could be exposed to this, to this ETF.

Does it mean very much in the end? It's more paper Bitcoin, right? Like, it is what it is. You want to talk about YouTube? We can. Bitcoin. Yeah. I mean, I think that.

So they had their account. Flaklisting. It's gone, right? BTC Sessions had this happen to him a few times. I don't want to see. Yeah, I have a little more insight into what Ben thinks happened to that now. I won't share it here. But I think there's, you know, there's always something going on behind the scenes that we're not pretty to.

Well, Bitcoin all caps also had his. That's right. Look, I can't say much about Bitcoin.com. I can speak more about. about Bitcoin Allcaps his Bitcoin YouTube channel that was not doing anything wrong in my eyes

it was just simply posting Bitcoin stuff he got material posted that like it just it was informing people if they want to buy Bitcoin fine if they don't want to buy Bitcoin fine but at the end of the day after watching the content that Allcaps put on YouTube you were more informed about Bitcoin

than you were at the very start of the video So with that, you know, when you get stuff like this, no strikes, no warnings, just poof, gone, nothing. And that's terrible. These guys, Bitcoin.com, 10 years of content gone. They say they had stuff on there like how to use a wallet and shit like that. I can't say is what they had over there because I can't. They didn't watch it. But I'm going to just take it at face value that, yeah, they're telling the truth.

That's bullshit. And they say they're going to be moving over to rumble and, you know, whatever. This is not the first time it's going to. going to happen. It's not the last time it's going to happen. Bitcoin magazine. They had their account nuked very recently, too, just this month from what I gather. So they say it's low quality and repetitive content. It might be, but in my opinion, it's not enough to ban somebody. I think this is my updated viewpoint on this whole banning channels and stuff. Okay. There's always something else happening that's exogenous to the channel itself. So,

So, you know, there are certain channels, I think, that use bots for views. There are certain channels, I think, that have too much AI slop and, yeah, the content is repetitive. But I think the one thing that we didn't account for, and I know this because I just got a copyright strike on my football channel, the one thing we don't account for is that people get mad about content on certain channels and we'll try their best to have them taken down. And over time, the volume of complaints becomes too much for YouTube to ignore. And the unfortunate thing about YouTube is that when you find yourself in a defensive position, it really is on you to prove that every single claim is not what it's, you know, what not the bill that you're being sold in a manner of speaking. That's why I said. I'll take this for what it. Yeah.

I don't think, I don't think it's fair. I don't think it's fair that YouTube does this, though. Like, the YouTube seems to understand that AI is so ran. amp it now that they can cause problems for them, but they don't seem to understand that channels want to embrace AI for content some of the time. They seem to understand that everyone can spin up a number of agents or bots to do a certain task, like for example, report a channel, but don't seem to understand that the channel by the same law can't spin up bots to refute all the claims. They seem to have a problem with that. The YouTube and Center structure is one that's

been confusing me for a long time because, and we've talked about this on Access of Easy too. YouTube relies on ads and ad revenue. So they need to know how many people are watching their videos. Now, the operative word there is people. I think that YouTube is starting to realize that most of the things watching their videos, looking at their site, whatever, are either bots or something in that vein. And so they're having trouble selling ads. And so they're trying to shut down certain channels, but there must be a threshold somewhere, channel to channel, where you decide, some of these viewers are bots. We know that,

but this channel drives traffic to XYZ other channels or this channel drives enough traffic to on its own to advertisers that people are clicking through at a high enough rate that we think it's worth leading up. Some level of cheating

if it makes sense for them. In the end, it just boils down to this is a centralized service. Yeah. We could say if not the one of the best centralized services out there you can talk about

TikTok Instagram it's up there it's changed the world it's changed the world and so if you want to use it you got to abide by their rules but sometimes you still at least from what I understand people still do and unfortunately it sucks

for what they tell me from what they tell everybody that they followed the rules and it's just it's terrible we were talking about this you and I or maybe it was Mark and I about how you spend all this time like building a brand somewhere, whether it's on Twitter or YouTube, and then the rug gets full from under you. And it's like, what do you do?

Like, in some cases, that's someone's livelihood, you know? Like, how do you fix that? You can't. You got to, from the get-go, I mean, this is a totally different topic. But you got to, you have to branch out as much as possible. Yeah. Expose yourself to a bunch of different platforms. So if one goes down, unfortunately, at least you still have a backup of everything somewhere

and then you could kind of build on what's still left. That's YouTube 101, the CPP, not the way we're doing. Yeah. Clearly I don't. This is a story that I think you'll love or you're going to love after hearing it. Nunshuck, they released to the world a new CLI that's a command line interface. That is a tool that is open source. And what this does, it gives the ability to share multi-sig Bitcoin wallets between users and AI agents.

And there is going to be checks and balances built in because the, AI operates within a user set spending budget and policy limits that is provided by the platform co-signer. So the agent could generate receive addresses, so it could receive Bitcoin, it could create, sign broadcast transactions within the limits provided, and it could also manage wallets independently. What's the point of all this? Maybe if you want to pay bills automatically, how about UTXO management?

another thing, setting up multi-addresses. So the process is you create a multi-sig wallet, typically two or three. One key is yours. The other key, the AI agent holds. And another key is Nunchuck platform policy co-signer. That's the rules you enforce. What I use it, I still drive a stick shift car. So I still do everything fucking manually. So probably no. I don't know, Joey, I know you're more into AI than I am. I'm wondering if there's something that you would like to use, would like to try out? That excites you. It's not for the moment.

Where to begin here. There's a couple of things you have to think about when you're using AI and money together. And also, I think there's some level of concern you have to have for your level of dependence on AI. So, for example, if your whole career revolves around using Claude Code, you know, you're trembling at these stories from the last week or so. between mythos and cloud code getting nerved and now people sort of reverse engineering why the thing seems dumber well because anthropics said it to be dumber by default uh you know you have these sort of cascading issues all of a sudden because you've relied on the bot now you could also take this you know a hop skip and a jump to the nunchuk story and ask yourself if you think the bot's

going to be capable of handling its end of the bargain with any consistency or competency week to week, month to month, year to year, and maybe most importantly, model to model. It seems to me that as the new models come out, the old models are nerfed or significantly throttled, let's say, to put it kindly. And there's not really much doubt about this. Some of the best people on these tools are making videos

about how incredible they are one day, and then a week later they're making videos about how they had the switch on their platform. Anthropic famously undercommitted to physical compute about six months ago. So, you know, they made a bet that they would not scale this fast. And now they have scaled this fast to the point of basically like, you know, cultural insanity around this thing.

And they don't seem to have the physical hardware to stay with it. Now, on the Nunchuk story specifically, why would you ever do multi-sig with an agent just so you can spend some Bitcoin in your bot? It just seems like such a risk that you don't need to take that's irreversible. It's one thing if you mess up a transaction or something with a credit card you gave your bot, people are doing that. And you can just call Visa and say, yeah, I didn't mean to do this. They cancel the transaction. They say, okay, thanks for calling.

Take care. Maybe you get a survey in the mail. Bitcoin doesn't have that luxury. And neither do you if you're using these products, these AI products. I know guys like Marty Bent and others, especially in the VC world, who truly have been one-shotted by this stuff. Like it's all they talk about, all they think about, all they do all day. they're vibe coding, they're doing this. Great, cool.

But it's a dependency. And it seems to me like Bitcoiners have forgotten in a lot of ways why we don't, why are we trying to avoid dependencies with our money. And now we're basically submitting to a significant one here, not only with our money, but in some cases with our livelihoods. I cannot discourage this enough. I cannot discourage us enough. I'm happy to hear that if somebody gets rugged, there'll be a nice story.

We could talk about our show and give us, give an example is why that. free education. Like I say, I'm probably not going to use it. I'm old-fashioned with the way I deal with these things. But whatever, this is the new wave of things being done. People like it. People want to do it. So be it. Black Rock, they're launching a new Bitcoin income ETF and it's going to be BITAs to ticker. And it's a cover calls thing where they're going to be generating yield if there's some volatility in Bitcoin. And it's not the first time we've, had this. Canada's had one for a long time. I forget the name of

the ticker in Canada, but we've had one. I'm going to say for five years almost now, maybe four and a half years. So these type of things, they work okay for a short period of time, but in the long run, it's just stay away

from stuff like this. I don't know why people want to approach this and think it's a good idea. Bitcoin's volatile as it is. And then if you're going to try to generate yield based on that volatility, that's fine. But then it goes for a period of time.

It's stable for two months. What happens during that time? What if it's just slowly chopping down in value? It's not really that volatile, but it's just slowly losing value over time. What happens to the value of UTF? The underlying is the problem, right? You have, there's a term for this. I'll just call it bleed.

I don't remember what it is. But the problem with all these covered call strategies is that generally the significant drop in the underlying value is what will get you over time. MSTY has this already, for example. You can, or buy coin. Coinbase has one as well. I think it's C-O-N-Y, where you are trading volatility.

So even, you know, minuscule chop is enough to get a significant yield. Like M-S-T-Y pays like 200 or 300% a year or something like that, something insane. But the underlying value of your investment decreases pretty quickly. This is a significant depletion there. Did you see how much it lost? What's M-S-T-I? I don't have any M-S-T-Y anymore. I don't know what, uh, I,

But I would just say, like, if you want yield, why not just go to stretch? Here's an example. It was at one time as high as 214, 215. MSTY. And that was MSTY. That was 2024. Yeah. And so if you want to go a little bit more recent last year, it was like 125.

Now it's 21 bucks. Yeah. There you go. So it's like one tenth the high it was in May 2024. Yeah. That's an incredible. drawdown. This is the proverbial

picking up nickels in front of the steamroller. People looked at it. Great yield. Well, you know what? People that bought in and held in the fuck do they have at the end. Hopefully they were able to parlay their yield into more Bitcoin

and what they initially bought into MSTY, but whatever. You've double the risk there too, right? You have MST, so you're not even correlated to Bitcoin with MSTY. You're correlated to MSTR. So at least in the bit BIT A, you're correlated to Bitcoin.

You can buy the underlying if you want some, I don't know if you want some of the underlying without another step in the process, right? The MSTY, the MSTY, yeah, decay is what the underlying value is. Yeah, thanks for that, Jay. Yeah, it's, it's like, it's, it's to me, a dicey thing. It's funny, Mark and I both dabbled in MSDY. I don't know if he's still in it. But at the end of the day, if you're buying something for yield like that, then you have

to not care about the underlying value of the vehicle. you need to be buying it strictly as a cash flow and not worry about the month-to-month value of the underlying. I don't know what the Coinbase one is at. I haven't looked. I don't know what this thing is going to perform like. But I would just say, like, you know, we've talked on the shows over the years

about certain times when it's good to buy. And I've long held that the 200-week moving average is a good time to buy. You're basically floating around there now. Why spend money trying to get yield in Fiat now when you're at what's been, like, generational bottom level prices in the underlying. I would just be buying corn.

Because you're going to have to pay that 500K exit tax somehow so you might as well maximize they don't take Bickland for that. And RSP, right? This just the name I mean, I look at the MSTY the name

Yield Max. That fucking name alone should be enough. That's the issue. The Yield Max does all of them. They do all the big. To me, I'm running the fuck away. Just hearing yield max. If that's not a red flag, I don't know what the fuck is. But you know what, Joey, there's lots to talk about on the back half of the show.

I think we should just end the Bitcoin side now. And we go right to the notable stories. Happy to do it, man. If you're on video, stay with us. We're not going anywhere. If you're on audio, you know what to do. Come back tomorrow for the back half of the show. We'll see you when we see you.

And don't be an MST wire.