The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - BIP-110 Drama, Coldcard Chaos, AI-Powered Infrastructure Attacks | The Canadian Bitcoiners Podcast

Episode Date: August 11, 2026

It’s been an absolute whirlwind in the Bitcoin ecosystem, and the Canadian Bitcoiners are here to make sense of the noise.On this episode, we unpack the widening fallout from the Coldcard vulnerability, dive deep into the contentious BIP-110 proposal and the looming threat of a chain split, and break down why infrastructure providers like Boltz and Zeus had to take services offline following a wave of AI-assisted attacks. Plus, BTCPay Server urges users to upgrade, corporate treasuries like MSTR and MARA make moves on their Bitcoin stacks, and we share our thoughts on what all of this means for the future of self-custody and network security. Grab a drink, tune in, and let's get into it!#Bitcoin #BIP110 #Coldcard #CryptoNews #LightningNetwork #SelfCustody #CanadianBitcoiners————————————————————————————————SPONSORS🔒 easyDNS — Canadian-owned, ICANN-accredited registrar that has accepted Bitcoin since 2013. Domains, DNS, email, hosting, all without selling you out. Use promo code **CBP Media** for 50% off your first purchase, no limits.→ https://easydns.com⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. Founded 2013 in Montreal. They never hold your keys; you self-custody from day one. CBP listeners get 25% off fees for life.→ https://app.bullbitcoin.com/registration/cbp🔥 256 Heat — Hashrate heaters: Bitcoin miners purpose-built to heat a space. Every watt of electricity becomes heat AND hashrate, so you're warming your space and stacking sats at the same time. Custom solutions available. Tell them CBP sent you for a discount.→ https://256heat.com🎓 Bitcoin Mentor — One-on-one coaching to take you from "I bought some Bitcoin" to true self-sovereign ownership. Wallets, keys, collaborative custody, inheritance planning, node setup, the whole stack. 30-day money-back guarantee on every package.→ https://btcmentor.io/aff/joey————————————————————————————————FOLLOW THE SHOW🎙️ CBP — https://x.com/CanadianBTCPod👤 Joey — https://x.com/joeytweeets👤 Len — https://x.com/thebtcpricebot————————————————————————————————

At first, you don't succeed. Try and try again. That's the BIP 110 mantra. It looks like they're going to be going ahead with some sort of new way of proceeding with their thing. Anyways, also, BTC pay server, bolts, Zeus. They all got the AI treatment and there was some downtime or some adjustments going on over in that camp. AC units, they are being targeted. We'll be talking about that in a little while.

It's good stuff. Indian gangs in Canada. Oh, that's another interesting stuff. Can't forget about Hamilton versus. versus Brampton Man and so much more, all on the CBP. So, you know, 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 Levin' Joey. Spots is taking care off right off the top. Oh, Bitcoin and Easy DNS.

The media is feeding the slop. Friends and enemies, welcome to yet another edition of the Canadian Bitcoiners podcast. I'm Lenda Legend. Joey is in parts unknown. I don't want to docks exactly where he is, but he is not here on the show. And with me, I have Boomer joining me. So I'm not doing this. Boomer.

Yeah, yeah. First time, long time. No, I've been here. Oh, yeah. This is the first time I've done it in like a year. Yeah, it's been a little... It's been about a year. And I'm thinking about Joey in parts unknown.

Like, who's your all-time favorite wrestler from parts unknown? Ultimate Warrior. Yeah, it's got to be, right? Yeah. It's got to read. But the road warriors also from parts unknown? Chicago. Oh, that's right.

Yeah, that's right. Yeah, they were built from Chicago. You know, one of some... Yeah, yeah, they're fine. Yeah, yeah. Yeah, but I'm still going with the warrior. He's my boy. Oh, yeah, yeah.

So yeah, Boomer, appreciate you coming on. This was kind of a last minute tag in. And I think you were given the word just yesterday or the day before. And I think that was it. And you graciously came on in. So appreciate you coming on and not making me do this solo peek. What a freaking disaster that would be. It would be a train wreck.

And at least like this, you could help guide me in the right direction. So thank you. I don't know how much guiding I'm going to do, but it's always a pleasure to be here. And let's face. it 99% of the Mondays I'm in the chat anyway so I don't I was thinking the other day I think I've only missed like three

Mondays in the past two and a half years of the show I've only missed two Mondays in the past five years or so I got a better and one of them was a protest when I was ill yeah yeah I've my attendance is better than Joey's Craig you're asking who is this is boomer boomers in the chat

all the freaking time and so it's Yeah, you don't know who I am. Geez, man, he's, yeah, he's very active in the chat. As he said, he only missed just a few episodes in the past few years. So, dude's a regular. But either way, let's go to the sponsors. We've got to do the sponsor reads, and I want to get these things just off the list of things I've got to do.

Number one, we have Easy DNS, and they are the very best in the game when it comes to web hosting, mail hosting, DNS hosting, domain name registration. Mark and his team, they've been doing. this for decades. And this is plural. And there's been many companies that have come and gone and while these guys, they're still in business. Why? Because they provide you

excellent service. Not only to do that, excellent service, you're not going to get rugged. They can help hold your hand at need be. If you log in, you need some help, they will be able to provide you some assistance. These guys are the very best in the game. Boomer, you've had some dealings with easy DNS and Mark, so you could

talk firsthand about how great he is, but we're not going to dive deep into that. But even if you, you know, if you do want to talk about his praises in a bit. I just want to mention if you do want to buy anything from them, don't forget to use our promo code, CBP Media. By doing that, the first purchase that you get from them, it's going to be 50% up. So what are you going to do? You might as well load up the cart. Buy a whole bunch of stuff. Squatted a whole bunch of domain names. We got NVK, probably stopped doing that practice. So you might as well pick up the pieces where he left off and start doing it 50%

off by using CBP Media. Check them out. Boomer, do you want to do the bull Bitcoin Reader? you want me to take care of that. First of all, I wonder if BIP110.com is still available. Does anybody have that, that domain name? Let's see, Bip110.com. It's been taken. The Nazi death march countdown is, uh, that's too bad. Anyways, you want Boll or you want me to take care of the ball? You come in here. If you're familiar with this show, obviously you're familiar with Francis and the rest of the guys at bull Bitcoin. A non-custodial exchange. They never touch your Bitcoin.

Some of the best guys in the in the space. They're available in most countries in Europe right now. I know multiple languages. You know, they'll help you in Spanish. They'll help you in French and they'll help you in English. And it's just a part of a fantastic community that, you know, in the past couple of weeks, just look at all the craziness that's been going on in the Bitcoin space in the past couple of weeks and the bull bitcoin guys led by frances over there at the tip of the

the tip of everything informing the people and just you know you just can't do any better than bull bitcoin when it comes to a bitcoin exchange anywhere on the yeah buying or selling they're they're the best in the game the user are code below to sign up you already haven't done so by doing that all your buys and sales are going to be cheaper moving forward and of course they're selling bitcoin and you can use lightning when things get a little bit more expensive but we're not quite there yet at least the options available All right, boomer. And bills.

Don't forget about bills. Don't forget about bills. Yes, you can pay your, Nick. Yeah, you can pay your bills. I know a lot of people at my local meetup are talking about that more and more over the past few months. So for people are unaware? Yeah. This is using Bitcoin to pay for bills.

So you could use the Bill Bitcoin, the Bull Bitcoin bill service for you. Pleb Benny, it looks like he's a, oh, he's laughing. Okay. I thought he was a one-tenor, but he put a laughing emoji after. So I think I know where he stands. I got to do one quick boost to basically knock off all the things I got to do here. Mo BTC Dick, 500 stats. He says, if Joey didn't go on a Brampton Man versus Hamilton Man losing streak,

our cold cards would still be secure. Can't be a coincidence. I can either confirm nor deny that. Interesting that there's a, some people are putting a connection between the two. And this week will also be another Hamilton versus Brampton Man. So you're going to have to be the joy this week and you have to do your best to try to pick out the story. So let's see how well you've learned from Joey or haven't learned from him.

And maybe you're going to apply some new talents and pick out which is the right, which is the wrong one. My batting average isn't very good on the Hamilton Brampton Man. Like I'm probably hitting 50%. Like George Brett. That's not bad. I'm like George Brett in like 1987.

It was 87 that he almost hit 400? Oh no, I think it was before that. But I know what you're talking about. He like 380 or 3. Yeah, something like that. Yeah. Hall of Famer.

I saw him play live. And yeah, he broke the Jay's hearts in 85, unfortunately. Anyways, let's dive into the Bitcoin stories. Not sure if you're following this. I want to hear your take right off the bat, Bip 110. this thing came and went and now it's back again, right? We have the chain split.

There's a lot of moving parts here. Have you been following the latest? A little bit, not that much the past couple of days. I mean, I've been following it like everybody else, kind of from afar for the past few months. As most people know, I'm not the most technical guy in the Bitcoin space, but I know enough just to be dangerous,

you know, like I can kind of understand what's going on. I always thought this BIP 110 thing was just bad PR all around. Like everybody that's infighting, the bare market stuff, I didn't think it was actually going to happen. I am a little bit surprised it did happen, but I'm not very surprised at the result. Well, have you followed the latest? Because lately, just today we've had, and this is ever evolving and it's very fast. I do have a Fiat mining job, so it's hard for me to get up the speed of everything.

But from what I did gather, we have, number one, Luke is now being recommended to be taken off the BIPP editor team. Because of exactly what's happened in the past of the while, merch is going through the motions to get him removed from that position. That's number one. Number two,

we have, it looks like roughnecks is going back in, balls deep. they want to start mining again. For a period of time, they said, we're going to pause it, at least temporarily or indefinitely maybe, maybe I got that part right. I'm sorry wrong, but the very least they stopped and then they've restarted. So BIP 110 is going to be mined again by the roughnecks people.

So it looks like they want to go ahead and continue with that. There's also talked or maybe a proof of work change, which I'm not curious to see what transpires from that. I haven't really dive deep into that because as I said, Fiat mining took the majority of my day. And there's also tales of missions that people are talking about. And then last but not least, we had Luke saying that he's going to take a leave of absence from ocean mining. And so he's going to focus on development of software. So a lot of different moving parts here, which leads me to believe, at least based on everything I see, is they're going to go ahead and try again. Or at least continue what we have here and maybe slightly adopt or change the wording of stuff or the mantra or just this thing is not going to end.

It hasn't ended yet. There's another life. Thoughts. What does the average Bitcoin guy or girl? what do they got to remember from this? Should they be monitoring this situation or should they just be, is this one of those things like wake me up

when it's actually important? I think you're right. This impacts more than anything people that run nodes. If you're node runner, you're going to, and minors too because they could have signaled if they wanted to, but they chose not to.

But node runners really, this is the big thing. You're going to run a node that's going to be BIP 110 compliant or you're going to run a non-Bip-110 compliant node. So which policy you're going to be choosing to be enforced on your node? And how many people run nodes? How many people own Bitcoin that don't know, don't care,

choose not to run a node? I think that's a fairly large number. Yeah, from what the last time I looked, the number of active nodes on the network we're around 12,000 or so. Does that sound about right? Okay. That's fair.

And I would love to know the... Sorry. Yeah, of those, how many people are running both core and not versions, right? Like, it could be one person running one of each. I think you're right. And in fact, ACP, I mean, I don't want it to derail this too much and go to a different topic, and I don't want to yet. He says, the average toddler, was paying more attention to the cold card hack than Bip 110.

And I don't want to talk about cold card just yet. But I think that is probably more on people's wines than anything else. This is turning up to be more than anything. For the people that absolutely love Bip 110, it's all or nothing. But I think for a lot of others, it's like, ho-hum, another day, TikTok, we'll just keep going. Right. Like I run both, but not and core. but with a caveat, my knots is old.

It's 28. something, I believe. So I have not chosen to upgrade it. In fact, I haven't even logged into it in quite some time. It's just, I haven't looked at that computer for quite some time. But I'm assuming it's running fine and everything. It's just, I think that you're a good indicator, a good indicator of what people think about this. It's like, whatever.

But still, it's getting a lot of attention. amongst space talkers, podcasters like us. And for better for worse. And do you think, and do you think this is going to change anything in the end? No. I think we're just going to, no.

We're just going to, unfortunately, people are just going to, some people are just going to leave. Right? They're not going to stick around. How can they stick around? What sucks about this thing is just how divisive it all was, right from the beginning. Like, it just really felt like one camp

versus another camp and they were just, they could have just hashed it out, right? They could have literally just like hashed it out and just talked it out. And I think it would have spared us what, like nine months? How long have we been dealing with this? It's been almost a year since this BIP 110 thing has really been like in the forefront. Seems like, and ever since the bear market started in earnest, it's been even more so. And a lot of, you know, everybody can have their own opinions.

And I'm friends with some guys on both sides of this argument. And I'm not going to, and I was pretty, you know, consistent all the way through of just like not taking sides. And kind of just I'll listen to everybody. And then I'll kind of, you know, wade it out and kind of see what happens. That was kind of my approach to it.

I really didn't like the messaging of the whole thing. Yeah. And here's a good example. Like, I don't even know how to pronounce his name. I'll butcher it if I do. But he's not hard to be divisive when Luke and his crew are calling everybody who disagrees them. I don't know, like I say the word on YouTube, but you know what I'm talking about. So that's what they're defining people that run core.

They're like, be something. Again, I want to say the word because I don't think we'll be on long for YouTube. we just, I'm definitely not one. But, you know, whatever. I guess they're putting me in that camp and just because I run core. But it's too bad. Is it really that bad? Like, are there, is it like, what causes people to be this?

I don't know, tribal is the right word, but to just pick aside and to just kind of stick on it. And to just kind of vilify the other side without having. you know, kind of grouping everybody who disagrees with you as, oh, you are a bad person because you disagree with me. It's just an easy way doing it. It's such an easy way of doing it. Pay people into a particular camp and then that's it. And whatever, I'm done with this. I don't want to talk about this anymore. And as you do, I'm exhausted from this whole BIP One Thin thing. Same. And I think we're moving on. We'll probably get an airdrop of some shit coin as a result of this. and then do what you want. I have, I don't know if I'm going to do anything with it

because I don't want to just screw up my Bitcoin, what I have set up in Bitcoin right now. But either way, cold card, really quick. NVK, where are you, buddy? It's been a week and change since we've heard from him. Right? He's been quiet. Somebody noted that today, Odell has been quiet on.

Twitter, not on YouTube or on his podcast. But, you know, I don't want to talk about it. I'll talk about NVK, but really quick. You know, I don't know what his legal obligations are here with being quiet, but moral

obligations, he certainly should come out and do something. By not doing something, this is looking really bad. And Pleb Benny thinks that he's in the Bahamas, NBK is. What are you? Well, I have no idea where NVK is. I have no idea what the last time he said anything.

This whole cold card situation, like, my God, man, like that's probably the most intense couple of days since I've been in Bitcoin. The chaos that that caused. And I'm not going to sit here and speculate if it was like an inside job or not or this or that. Like, I know nothing. I still think we're in that period where we should, we should. be trying to help people, you know, making sure people are able to recover their funds and

to support the people who need help. That's kind of where I've been. I'm still in kind of that stage. It seems like the sweeps are over. Like I haven't heard anything past few days. Now, granted, I'm nowhere near as plugged into the Bitcoin community as I probably was six months ago. I'm kind of halfway taking a vacation here. Like I follow you guys in a couple of more podcast and that's it. And I'm not on Twitter nearly as much as I used to be. It's summertime. But that's the impression that I got.

What's your block clock say? It still says, Rod, I'm just looking at the saying because there's a saying that says, if you don't believe it or don't get it, I don't have time to try to convince you, sorry. And that's the saying that's on this one. But on the block clock micro that's even smaller than this,

It has a saying that references rucking coins indirectly. And so people are looking at that and saying that that may have been a hidden message or not. No, no. This is not an ins – sorry? That would be – that's hard for me to believe. Yeah, 100%. This isn't an inside job. This isn't any conspiracy here.

This is just truly somebody using AI. and just being very lucky slash cunning. The way he's using all the tools available to him, I don't think he's using it in a proper manner that he could hide his tracks. But he did use the tools and he rugged a whole bunch of people. And Pleb Benny says something that we should make no tears. And he was mentioning that the cold card was the gold standard. No one is safe.

And he says no one can be trusted 100%. nobody like you should always do as much verification as possible and including with uh cold cards so the people that trusted it and trusted that it would do proper entropy you got rugged um just you know this i'm just rehashing ancient history now everybody is aware of this and man if you have not yet taken your bitcoin off a cold card that generated the keys for you yeah you are playing with fire if you roll the dice and did stuff, ways that I've mentioned many, many times in the show, I believe you're going to be safe.

Do your own research. Do your own research. verify. I'm not moving my Bitcoin off my cold card for next of a while. The lesson for me, it's many lessons, but you mentioned it, this is AI. This is an AI thing. It makes me wonder how many things

have people been attacking with these new AI models that we just haven't heard about. You know, like the Bitcoin space, say what you want to say about Coalcard and say what you want to say about, you know, like transparency and stuff. And it's a fair criticism that NVK hasn't spoken up in a while. You know, maybe if I was a lawyer, I might have a different opinion. I might say it's like he's probably, if I was a lawyer, I'd probably say he's probably doing the right thing by keeping and keeping his distance. But say what you want to say about the space and about Bitcoin, about all that stuff.

The community is a lot more open and transparent than the vast majority of communities out there that are in the tech space. And it really, really is scary to think, like what these frontier AI models are capable of. And to think like just how many different types of attacks are constantly happening across all sorts of things in society. And we just happen to hear about this one because it's here.

It's Bitcoin. Now, in terms of other software out there that is being impacted by AI, we could go through a few of the number one BTC Pay Server. They are telling users they must upgrade their BTC pay server to version 2. 2.4.2. And the way to do that is very simple. Go to the admin dashboard, go to server, go to maintenance, and click on update, and you could verify the 4.2.2 version in the footer. And they say this is a critical vulnerability that has to be addressed. And the latest update should rectify it. And maybe there's a newer one since this news came out. Maybe 2.4.3 is out. I don't know. But either way, go to 2.4.2 at the very latest, at the very least. And it's, apparently it's so severe that if you do not even upgrade, another recommendation is to shut down your BTC paste server entirely. But maybe that's not enough because if you listen to folks like Praveen, he's saying that shutting down isn't enough.

He's saying that you need a new rookie. So all this to say is BTC pay server is an open source project like Bitcoin and Cold Card was not open source, but it was source verifiable, which led to whole thing, but with respect to open source, this is a situation we are going to take one step back and two step forward. The one step back is all the vulnerabilities that are going to be found with AI, but the two steps forward is going to be the hardening of the software. And that's where we are right now. Not sure if you want to add anything to that. Well, exactly. It's an ad to what you just said. We have access to the AI models as well. So for every attack on an open source thing like Bitcoin or on some sort of software,

well, the developers who work on that project also have access to the same tools that the hackers slash attackers do. So that is a little bit of a white hat. But these are crazy times. More of this going to happen, Len. Like this is going to be something that we're going to see a lot of in the next few. years. Maybe not in Bitcoin. Maybe, maybe not. I would be willing to bet we probably are going to see more of this. But I think we're going to see this in pretty much every walk of life where we're going

to see more and more of these, I don't know, attacks or vulnerabilities being exposed. But for every negative one, I guess it's white hat and black hat, right, the term. for what I understand Zeus was also shut down over the women but that was different that was a white hat thing like they they uncovered

the vulnerability themselves or someone else did and they shut it down preemptively were able to fix it up and then we're back up and running without anybody getting hurt if my recollection is right you're right so they said that

they found some abnormalities and they decided to preemptively take down their service to prevent anything further, anything bad further happening. They also mentioned that no customer funds have been lost based on, and based on what I've been searching, I believe that to be true because nobody's disputing that claim. And so you're right that they were down August 5th and then came back online August 6th. They were down for 24 hours-ish.

And they also say that LSP channels that were closed are going to be replaced as the service is restored. And they say that if your channels haven't already haven't been established, it will be reestablished soon. But all this goes to show is that managing a lightning node is not for the faint of heart. It requires a little bit more care, a little bit more. You have to get your elbows into the whole thing. Not elbows up, but like, you know, you got to get your hands dirty and working on the thing. So it is something that is more challenging. If you don't know, if you're not very technical, running a lightning notice will be very, very difficult to do.

And you probably will get rugged in the process, right? Like you just spruce something up. And who knows, you may not get access to your funds because you lose a key or who the hell knows what happens. But all this to be said is Zeus, they did the right thing by, you're right. It may have been somebody gave them information. And they said, you know what, let's just take it down, fix it, and go from there. So that's the second one of this week that happened. The third is bolts.

Yeah. I'm not sure if you heard about bolts. Yeah, it's a bigger deal. Yeah, so that was actually last week on Monday. They went down and it was a great option for people out there to want it to swap like lightning for Bitcoin or vice versa do it in a KYC free. And very seamless and frictionless environment. They said, well, they took it down. There's no timetable when it's going to be coming back online.

So this, unless. something happened on the weekend. That's the last time I looked into this. A lot of rumors out there. Maybe somebody is spreading false rumors. They could have been 6102, maybe even hacked. I don't know 6102'd. Hacked maybe. It's possibility. I'm not going to say it's a likely one, but it's probably way more, a hack is way more likely than a 60102. And so they say that this is all the result of AI related attacks because there was an exploit that was found. This is according to the

Boltz camp people. That's the official word coming out from them. And so this going down impacted a few things like Bull Bitcoin's wallet, aqua wallet, and possibly a few others.

So this is the third one in the past seven days, Zeus, Boltz, and BTC pay server all having some issues with, well,

vulnerabilities and they're just closing shit up. So yeah, this is just, it's going to be par for the course for a lot of open source projects and maybe even close source. projects next little while.

Is the bull wallet back up and running? I mean, I haven't, I use it, but I just haven't used it in the past week or so. I don't know. I know a lot of people were using it to move funds off cold card, and it was a recommendation for people to use that. I don't know exactly what's the status. I think it's still on Ryan, but I never heard anything saying it's an off song and just assume it's online, it's working.

It affects the swaps, right, of using from, from, liquid. Yeah. No swaps. Right. No swaps as Yeah. Benny's saying no swaps. So yeah. So like just it is impacting things now. I mentioned that's all or we both mentioned this is open source software.

Close source software is going to get the same type of treatment. But I think it's going to be done in a way that it's going to be done, at least the intention is going to be done behind the scenes. They're going to roll up patches. hypothetically. You know, you have Microsoft, they have access to Kimi K3 or what's the more the Anthropics version, the powerful one. Where the fuck it's called? I think it starts with them. Either way, they have, they have access to it. They're going to use those tools and they're going to apply it to their product and just try to find any bug that they could find in it.

Some say that Windows is just a bug period, but they'll probably try to find vulnerabilities and fix that. Roll out any sort of update and then you're going to go from there. So you're going to see a lot of changes. So Fable is the one that we have access to. It's the one that is available to these specialized companies. So like companies like Microsoft, Google and shit like that. Methos. There it is.

Methos. That's the one. Thank you. So yeah. So they're going to have access to Mythos and use that. and use that as a way to harden their software. So you're going to see a lot of updates coming on next little while from these companies with closed source software.

This is, it's a new time, man. It's a new time. It's a new time. It's a wild thing. I'm not an AI expert by any stretch of the imagination, but I know a couple of guys who are, and I've been kind of like the third wheel in a couple of conversations where listening to two really smart guys talk about AI,

and I can't get all of them. what I'm hearing, but I can get a little bit, I can grasp a little bit of it here and there. It sounds to me that a lot of the Chinese models don't really have the guardrails that a lot of the American ones do. Correct. Which creates a bit of a conundrum, right? Well, if I could expand on that.

So the guardrails are not there if you're using Methos. So Methos doesn't have those guardraums, but we don't have access to you and I. That's just my point. Yeah. So Microsoft will and other companies and, you know, Defense Department of Defense like that, will get access to it. So those guardrails, they'll have not be there and they'll be able to access it. So Fable has it.

Methos doesn't have it. So they have essentially total access to everything. So I didn't mean to interrupt, but that's essentially. No, no, no, no, no. I needed that. I didn't know that. Like, so that creates a strange incentive structure there, doesn't it? Well, it gives them the ability to use it and to make their software better.

Let's be honest. How many people are using Microsoft? I think the majority of the business world is using it. And beyond that, I still think a large number of desktop home users. But I don't think there's a lot of desktop home users these days compared to yesterday. But businesses, they rely on this to be working. And as long as it's working fine, their business can continue to operate. But if there's a bug in the system that causes the operating system to go offline or network traffic to be closed down, they're done.

they're finished. So they got to close those bugs right away. And so this gives them, man, we're going to do this topic of AI here. We should be talking about more Bitcoin, but it's all relative, I think. Well, let's bring it to Bitcoin a little bit. You mentioned our buddy Praveen earlier, a guy like Praveen, who's running a project, a Bitcoin software project. He's in charge of Cove, Cove Wallet. Praveen doesn't have access to these cutting edge American AI models.

But in theory, like his wallet, like his project is being attacked by people who do have access to the Chinese models, right? So how is a guy like that supposed to defend himself against these attacks if the attacker has better tools available. A better tool available. Or at least not a, I don't know if it's better or worse. I don't know, maybe better or worse is not the right word,

but a throttled version, right? But the Kimi 3, K3, it's not throttled. I think it's just unlocked. They have absolutely. That's what I mean. That's what I mean. Does that force a guy like that to start learning those models? Is he have to use those models?

If you're a one-man show, you got to spread yourself even. Yeah. If you have a team of coders, you could dedicate a few people from the team to work on this and try to find something and then bring back the findings and we'll reconvene and discuss later. So that's the whole thing that people were saying about cold card. It was just too small of a team. And so finding these bugs and dealing with them was very challenging given their business model, their structure of the company. And a larger one like ledger or treasurer that has way more people, hundreds, I believe, working on each of the two companies.

companies that they're able to dedicate resources to deal with shit like that. So if you report a bug, they could look into it. And I'm simplifying the whole thing. But what I'm trying to get to it is that the cold card business model was okay until it wasn't okay. And then they exposed the problems of it, of just being too small of you have Doc Hex, was the chief programmer there. And, you know, you need more people. You need more eyeballs and stuff. And also without it being open source, it was being, it was source verifiable.

You know, you can look at the source, but nobody is using that code for anything. Nobody's building on it. So less eyeballs. And I'm just rehashing history here, man. Everybody's probably aware of this, I hope. This is just strange times. Like, we're just in these, it's really strange times. I'm sure there's been plenty of periods like this in history where we've had like

technologies kind of clashing. and it's just a period you kind of got to get through. Yeah, yeah, when computers probably were first introduced to the workplace, you know, it was probably a culture shock for a lot of people to do with it. You know what I find to be bullish for Bitcoin, though? I mean, I'm going to just just quickly derail this discussion and go somewhere else. MSTR, they announced today that somewhere in the past week, they sold around 1,690 Bitcoin.

And the reason why I'm saying it's bullish, the price of Bitcoin didn't tank, because Bitcoin, they're selling more Bitcoin. This seems to be more or more Bitcoin that's being sold by MSTR. Granted, you know, $1,690 is not a lot. Still decent amounts. They still have another $840,000 left on their bankroll that they could start selling over time. But they needed to do this because they needed to, well, they're buying STRC or stretch. They're doing whatever they can to prop that shit up.

and so they're using the sales of this, I guess, to continually buy it up. Seems like, you know, they're selling something they should not sell to prop of a shitty product. But hey, they can do what they want. Yeah, they can do what they want. They're also decreasing their dividend payouts, right? Like by purchasing STRC. So by buying back some of that stuff, then that's less dividends that they'll have to pay out in perpetuity. I don't know, I listen to you guys every week.

I know where you guys stand on this. I'm not as much as negative on MSTR as you guys are, but I'm nowhere near as positive on MSTR as those MSTR guys on Twitter are. So I'm probably somewhere in between where I just like, they're going to, the company's going to do what the company is going to do. I think that for a lot of people in the space, I think what we've done is we've kind of mixed up Sailor with MSTR. These are two completely different things.

Michael Saylor, you love them, you hate him, I don't care. MSTR, love it, hate it, I don't care. But to think that what he's saying personally and what his business is doing, I don't think we should convolut the two of them. They're two completely different things. It's a person versus a business. That's fair. That's fair.

And he's no longer the CEO. And he's no longer as CEO. But he does own a lot of shares that enables him to vote and to dictate how things are going to be done moving forward. And it's early. This MSTR project is early. Look, I don't know if it's going to pass, if it's going to succeed or fail. I don't know. I'm not an expert.

I don't, not financial advice by any stretch of the imagination. Nothing on a show of financial advice. Nothing on the show is ever financial advice. So I don't know. I do your own research. But it is optimistic. I don't know, optimistic is the right word. But like you said,

that the price hasn't moved very much in the past couple of weeks. Despite micro strategy selling, like all that stuff that we had with the coal cards, the BIP 110 drama. I don't know, drama. You want to call it drama? I'll call it drama. We've had a lot of negative stuff happen in the past.

Yes. couple of weeks. And to think that price is actually up a little bit in the past two weeks the last time I checked, I didn't, I don't look at price every day, but I looked at price, I think on Friday or Saturday. And I did look at the month long chart. And I think, oh, it's up for the month. Keep preaching, brother. This is the right, this is the right message. That's a good sign, I think, that we're, look, I'm not going to sit here and say that we're at the bottom and that we, I can't, I don't know how far we can keep going down. Like maybe we can go to 40,000.

I don't know. We can go to 20,000. I don't know. Len and I, we joke that we've got orders out at three cents. Hey, no, I got $21 million at one penny.

One penny? Okay, well, I got a, that's my floor. Okay, well, I got three cents.

So if you want to skip, if you want to bump, bump, you're going to have to be four cents. No, too rich, too rich for your blood, right?

So you're 100% right. You're talking about the price really not moving, downwards in a time of uncertainty. We have AI showing vulnerabilities with a lot of these, a lot of the open source software that is in Bitcoin. Cold card, some of the users getting rugged over there. MSTR selling some Bitcoin.

Even Marathon reportedly sold 23,000 Bitcoin during their last quarter. That came up just today. A lot of information out there that shows, this is not good, this is not good, this is not good, at least for Bitcoin price or potentially, Bitcoin price, but the price is holding. Not only is the price holding, if you look at the mempool,

it's not being flooded. I thought there was going to be a period of time when people were moving stuff off for a cold card that the mempool is going to get flooded. It didn't happen. Those two metrics to me are very, very bullish. I'm looking at this and say,

man, if we could defend this and just period, and I don't want to see these are attacks, but let's just use that word, for lack of a better turn. So parry these attacks, this is just so fucking bullish for Bitcoin. I'm so incredible stuff. It's not just bullish.

Even BlackRock today. You see what they did? No, what did Black Rock do now? So you're in luck. So they say that the in-kind redemption. Oh, yes. That's been reduced from before you could redeem your ETF for Bitcoin

if you had 25 million or more. Now it's only one million. So yeah. So you know, I know you're a big time. I bid holder and you probably have just over, you know, somewhere in the vicinity of seven figures. So you can if you want. You can get that in cold storage. You can put that on your cold card if you want if you want to risk it.

And so you have that ability. So yeah. No big deal for me because I could have done it before anyway. It was $25 million. You know what I mean? Oh, very good. At $25 million, you know, like I got that under in my cushions of my couch back there. you know, like $25 million?

That is a big deal. You never invited me to your yacht, your yacht though. Yeah, yeah. That is a big deal. The in-kind redemption things is a really big deal. Like that's something that everybody was talking about when the ETFs came out.

Oh, when are we going to have in-kind redemption? When are we going to have in-time redemption? And a lot of the chatter back then was like, oh, it's just going to be for the biggest whales out there. They'll be able to get in-kind redemption. And the average person won't be able to. Well, the average person still can't.

The average person doesn't have a million dollars worth of Ibit in their portfolio. But a lot more people have one million than have 25 million. So, you know, maybe the next line is 100,000. And after that, maybe it's 10,000. And then maybe it's 1,000. And then maybe it's everybody. So that is definitely moving in the right direction. In-kind redemption on the ETFs is really nice.

It's a really good point. ACP2 is saying, wow, this is a whale podcast. I'm not sure ACP, if you're aware, the criteria to be a co-host on this show is you have to have at least eight figures in Bitcoin. And well, I saw the numbers. Boomer, he proved it. He signed the message. Oh, yeah. He's allowed to come on.

So there's also something else, too, with all this, I don't want to say negativity, but, you know, a lot of people could look at what's happened. and say it's negative. In fact, like the cold card thing certainly was negative. But all the other things like, man, this is negative, this is negative. It's still a price holds.

Clarity Act. Like that's being delayed, at least till September. And there's not a direct line to Bitcoin, but it's a dotted line towards Bitcoin. And so with that being delayed, you know, people would say,

man, this is not good for Bitcoin, potentially. And but still with all that, the price is holding. That's another, piece of news that could have slightly derailed the price and it didn't.

Very bullish. Is anybody pushing for the Clarity Act to pass quickly or are people pretty much saying like yeah we want more time on this? I think people like Cynthia Lemmiss wants to push right away. She's one of the people that's been on point to get this one done. And isn't

the White House on board with getting this one done too or no? I thought so but I know that there has been a lot of back and forth. I haven't followed it that closely since the beginning of the summer, if I'm being honest. The less you follow it, probably the better. Let's be honest. This is going to definitely for sure impact stable coin usage and how, yeah. So the custodials, the people managing it, those stable coins, they're going to have to adhere to certain regulations. But between the people that come on his podcast, yourself, myself, Joey, everybody, like,

who the hell's using stable coins? But I get it. Some people probably are. We aren't. Right? It's just, it doesn't, we're not the target audience here. No, no. But it does show a broader adoption in the space.

Yeah. At least an open-mindedness, I guess, on regulators. That they're at least looking into this type of stuff. I think that's good. I don't know. You could certainly make the argument that's not good, I guess. For me, I guess my bias is that I think it's a good thing. But, you know, I'm more of a wait-and-see type of thing on this type of stuff.

Now, I guess one more story before we tie a bone to Bitcoin side of things. You're an iPhone or Android guy? Android. Okay. So this one is going to hit closer to home for you, I'm guessing. Last week we discussed about Apple getting sued. There was a lawsuit launched in California because of fake apps on the Apple's app store. Well, this week, there was a story on a Bitcoin subreddit,

and they were referencing a post on X. So imagine that. The guy's name is on X, really bad day 99. And the guy claims that he lost his life savings by trusting a fake treasure app that was a sponsored app on Google. So he went on Google. He typed in Treasurer app. And so the first link that appeared was a sponsored link,

which was unfortunately a fake app. And the fake app, but he got rugged because when you went to the app site or the website for that app, it asks the user to punch in your 12 or 24 words. Nobody, nobody should be, punching in your words on a device that is hooked up to the internet. The only way you're going to want to do that is if you have a device,

hypothetically, I'm going to use the cold card as the example because I know that, and I know people are going to scoff it, but I can understand, you know, why you would be saying that, but I know it. So I can say how to use it. You have the cold card. It's not connected to the internet. you don't have anything on it, but you have 12 or 24 words that you have Bitcoin associated with.

So you could enter those 12 or 24 words on the cold card, which was never hooked up to the internet, and then use that to air gap that information to your sparrow. And so you're good to use it. Never ever do you enter 12 or 24 words on a device connected to the internet. that if you do so, be very careful. What will happen? Because of this, the ruggings are going to continue until morale improves.

This is another example of that. Be careful. I don't know what sort of responsibility Google has as a result about this thing. I feel in a small way they do, but I'm not a lawyer. I am not up to speed with the laws in the United States. I'm going to let them deal with it. This is just shitty practice. Unfortunately, really bad day 99 had a really bad day and he got rugged of his Bitcoin.

You guys do these stories quite often. And I think the natural response for us, and maybe it's not natural, maybe it is, I don't know, is to kind of think, oh, that would never happen to me. It's like I could never, you know, that wouldn't happen. But I'm telling you, like this stuff of stuff is out there. And it's going to get more and more complicated. and it's going to get harder and harder to avoid. So you've got to be extra careful.

You've got to be more and more digitalent all the time. Like this guy, it was a paid app, not a paid app. It was a sponsored app, right? On the app store, you said? Yes. So I'm on the app store, on the Google search. On the Google search. It comes up there, like, you've got to be super careful with this stuff, with all this stuff.

And it's not just Bitcoin. Like I know this is a Bitcoin podcast, but anything, you've got to be really careful online. And it's getting just harder and harder and harder to do. And people are getting older and older. And I don't know how old this guy was. But we all have, we all have, you know, older parents that the, you know, it's going to get more and more difficult for them. So, you know, please be vigilant out there and help others too and try to. No, just try to help where you can.

T.JM says the problem is Treasure 1 and T had to be plugged into your computer to work. You enter the words on the device, but old Treasors aren't air-gapped. Thank you for that information. Obviously, I'm not a Treasure user because I couldn't tap into that experience when I was waiting on my rant about how to deal with this. But I suppose in that situation, I'm hesitant to do it. If you're going to do it, go ahead. For whatever reason, I have a difficult time crossing the bridge of entering in my words on something that has any connectivity to the internet, be it Bluetooth, NFC, or physically connected to the device itself.

So the heck's going on here. Anyways, I think I did an issue here. Anyway, never mind. So, like, what I'm trying to get at is when you do it, And if somebody gets your 12 or 24 words, you're done. There's no request. You can't call up the CEO of Bitcoin. Please help me out.

You're finished. So you've got to be so careful with your words. But I guess using a treasure in that regard, I don't bless people doing it, but what option do you have? I heard that Len, I heard that Len doesn't even look at his seed words if there are birds around.

Is that true? So you won't do it, right? You don't trust the birds? No, no. It's a windowless room. Yeah. And when I set it up, when I did everything, it was, like I said, windowless room. And I had no electronic devices in this room.

Everything was gone. I just had to make sure in my mind, I was wearing my tinfoil hat that day. But you know what? Wearing that hat saved me as a cold card user. Could have. Yeah. Yeah. Well, I rolled a dice.

And I did, I rolled a dice because. I had the cold card for a while. And I was just, I was just waiting. I don't know what I was waiting for. I was just, but then Joey said his story what happened to him. Yeah, a couple of years ago. And that changed everything. That was one landmark moment that changed the way I dealt with Bitcoin.

Another one was what happened with the protest in Ottawa four years ago, five years ago, five years ago. Wow. Yeah. It's a long time. That's another thing that changed me. So these are all like landmark moments in my life that push me in certain direction and the way, you know, I am the way I am because of that. So TGM says, why doesn't Google have enough KYC to not sell ads to scammers?

KYC everywhere except scam apps. I don't know. I don't have the answer to that. Yeah. I'm not an app developer. So I'm not sure exactly what's the, the criteria for. developing an app. And I know this wasn't even developing an app. This is simply just promoting a website. Or yeah, that's it really. Promoting website. All they really want is your credit card, I'm guessing, right?

What's your address? Do you have an account? So Tom is asking what was Joey's issue. Now, I'm going to try to do my best to give exactly what happened. And I may miss a detail here or there. So boomer, if you want to fill in a gap, what you know is he had a cold card. And he either rolled the dice and did it a few times, or he finger punched in a few numbers, saying, oh, I rolled a four, I rolled a six, rolled a one. And then after a few of it,

he just let it go. And by doing so, by just entering in either a few dice rolls that he actually rolled or a few of them that he finger entered into, or thumb entered into his cold card, it resulted in very low entropy in his key generation. And so at the time when he did that, I'm not sure how much time it took,

but his funds were rugged. Somebody must have been doing a scan looking for low entropy addresses and boom, found it and swept everything off and away he went. And I want to give him, and I say this to him before

and I'll say it even though he's not here. It's like a thank you to him because these are lessons that people need to learn. And other people, unfortunately Joey had to pay the price here. But this guy too, like that trusted that

fake treasure app on the Google search engine, these are just free lessons you could learn. They paid the price. You can take away something from it without losing a single set. You lose a little bit of time or invest it a little bit of time to learn it, but that's the way to do it.

Okay, I have a couple of comments about that. That's my understanding of this as well. Like he kind of finger punched in the dice rolls. I think what we do as a Bitcoin community, maybe we've got to do a little bit better job, is to not intimidate people with some of these big words that we use. Like entropy. Entropy is randomness, right? Just think of it as randomness.

And people say like, okay, we're rolling the dice. Well, if you're worried that you didn't roll the dice properly and to get the proper amount of randomness, human beings are awful, what randomness, by the way? Like, we're just awful. Like we're just not very good with randomness. So that's why you need something like dice rolls and 100 independent dice rolls provide you with enough randomness. Now, there are caveats to that.

It's 100 properly balanced dice for doing it. But the thing is with randomness, if you feel that your dices aren't properly balanced, that they're not the most perfect dice, or maybe you made a couple of rolls and you didn't roll it properly or whatever or you feel it wasn't quite good enough. You can roll the dice more than 100 times. So you can add in 120 dice rolls instead of 100 or 130 or whatever.

You're not limited to only 100 dice rolls. And also for everybody who's doing this, which should be everybody, you should be generating your own seeds, look into passwords and pass phrases on top of that as well too. Like that's a good way to add some more randomness. Randomness, I guess. I was about to say like security, I guess. Nothing is for sure, but you can tilt the scale a little bit more in your favor

by doing a little bit more every time. And it's okay to... it's great to learn from other people's mistakes like that's awesome like that's awesome but it's yeah it it's okay to make mistakes and sometimes you're going to make mistakes and it doesn't you don't get burnt like it's happened in my case where I haven't gotten burnt I've been lucky I haven't gotten burnt but the next time I do it I try to level up a little bit more I tried to be a little bit better every single time and if we're always taking that approach just trying to get a little bit better, a little bit better, a little bit better.

And if any of this is super confusing, hit us up on Twitter or go to a local Bitcoin meetup and there will be people there that can help you out. Yeah, 100%. And just wanted to say one thing. I think that the cold card only takes the last 100 rolls. So if you roll, I believe if you roll 200 times, it's still going to take the last 100 rolls. So that's just something to consider. That's going to get you 256 bits worth of entropy.

A little bit more, I think, just slightly more. 99 is not quite 256 and 100 is a little bit over 2506. I believe that's the mathematics. Yeah. And so a couple of things here, T-JAM was saying, Foundation, Seed Siner for Air Gapped or Cold Card and Dice Rolls or TailsOS. I'm sure I'm missing some. So those are a couple of options that he's missing.

saying and then Bitcoinius Maximus long before to current cold card hack. This is respected joy. He set up a wallet with only a handful of dice rolls and his wallet got swept. That happened a few years back. But still, you could see that people were actively looking on Bitcoin and trying to find low entropy wallets out there. And that was people. And that was before the AI kind of boom that we've had over the past 12 months.

months or so. So people have been active on that. Now, I think that's, we can go over to the Bitcoin side. You know, one thing I forgot to even mention, and we should plug really quickly before we end this side, your meetups. Go ahead. Zach, how much your meetups, your Bitcoin meetups. Yeah, I'm in Ottawa.

So if you're in Ottawa and you're interested in Bitcoin, there's no excuse to not come to our meetups. We meet like almost once a week. So it's like three times a month in the summer. So if you're around, like, where do you meet? On the east end, generally, there's like a called Big Rig. Remember Chris Phillips? He's the defenseman for the senators.

Yeah, yeah, yeah. He opened a couple of restaurants here in Ottawa and we meet up at one of those locations. So it's a good location. Food's pretty good. We got a nice table, good turnouts. And dude, we had a, we had a meet up like right after the cold card stuff really went crazy. We had it. The cold card stuff was on a Thursday.

we had a meetup that Wednesday, so like five or six days later. Yeah. And it was probably the most buzzing meetup that we've had in Ottawa in a couple of years. Like a lot of people showed up, a lot of questions, people were very engaged, a lot of people sharing ideas, nobody telling anybody what to do, nobody, you know, nobody preaching anything, just a bunch of really helpful people trying to help each other out. website for this? I just go on Twitter, just go capital Bitcoiners is the best way. My website's down.

I know, okay, long story short. I did, I did use easy, easy DNS for a while. I kept it up for a year or two, and then I forgot to renew it.

Okay, got rugged there, unfortunately, by your own. I rubbed Mark. You rugged yourself. And so people come there from all over,

as far away as Montreal, I believe. I think you get people from different weeks. Oh, way further than that. We get people all the time. We got a couple of guys from Vancouver that came a couple of weeks ago. There you are.

They were organizers. I'm pretty sure they do the Vancouver bit devs. They're organized from the Vancouver bit devs. So I've been to the Ottawa one at the beer place. Keep forgetting to come back when I'm in town. There you got to come, man. Tom, come on. Yeah.

So there you go. All right. That's it for the Bitcoin side. We're going to just transition seamlessly to the rest of the stories. If you're watching this live, just stick around. If you're listening, well, the audio will be back again tomorrow, I guess. So anyways, with that, Boomer and last words. Don't be a cuck.

Don't be a cuck. I love it.