The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Bitcoin Devs EXPOSED: BIP 361 Would FREEZE Satoshi's Coins | CBP 261 Pt 1

Episode Date: April 21, 2026

BIP 361: Bitcoin Core devs want to FREEZE Satoshi's coins — 5.6M BTC (~30%) permanently locked to stop quantum computing attacks. Is it theft or survival? The Canadian Bitcoiners Podcast debates.This week Len and Joey break down the most controversial Bitcoin proposal in years: BIP 361, the post-quantum migration plan championed by Hunter Beast that would render an estimated 5.6 million Bitcoin — including Satoshi Nakamoto's untouched stash — unspendable after a hard cutoff date.Supporters call it the only realistic defense against Shor's algorithm and a future quantum adversary capable of cracking legacy P2PKH keys. Critics call it a precedent-shattering attack on Bitcoin immutability — a civil war brewing inside Core. We walk through both sides.🎙️ THE SHOWCanadian Bitcoiners Podcast is a weekly show covering Bitcoin, macro, freedom tech, and Canadian news with a hard-money lens. Nothing on this channel is financial advice.🔔 SUBSCRIBE for weekly Bitcoin news, debates, and interviews:https://youtube.com/@canadianbitcoiners🔗 FURTHER READING► Full BIP 361 text on GitHub: https://github.com/bitcoin/bips💬 Drop your take in the comments: freeze the coins to save Bitcoin — or hard-fork to reject the proposal and let the chips fall where they may?#BIP361 #Bitcoin #Quantum #Satoshi #CanadianBitcoiners #QuantumComputing #BitcoinNews #BitcoinCore #HunterBeast #PostQuantum #BitcoinDebate #Canada #Cypherpunk #SelfCustody #HardMoney

Friends and enemies, welcome back to the Canadian Bicorners podcast, The Mighty CBP. It's Monday night, 420, 2226, Blazit. My name is Joy. That's my co-host, Len. Well, lots of talk about tonight. We have a prime minister who's taken to making YouTube videos. That's new for us. Is it not?

Did the previous guy do that? Not 10-minute, like, pre-recorded, highly-produced YouTube videos? This is unprecedented this video. Yeah. I just talked about it on BitCast. I had like five seconds to talk about it because it's like not a Canadian-focused show. But I want to talk about it tonight

because I think it's unprecedented too. Yeah, I know. It's unprecedented. But man, oh man, good to see you. I missed you at the event. I know. I know, man. I was there pretty early.

I saw. Underwear Tom and Nick, the rock star realtors, they do an event twice annually. And I typically go there. The last one I didn't go because of illness and the family. And so I was the first one I missed in a few couple of years. And so yeah, I'm usually an early bird. That was there early again this time. I missed you. And I was there for several hours. Yeah. I had a good,

time there. I was going to go in the morning, but I went, I ended up going, my daughter's been sick again. And so you can kind of actually hear it in my voice now, which is a little worrying. Same here. Yeah, it's not good. I'm sick all the time now. It sucks. I actually had to cancel our interview last Thursday with Dr. Orrin Amateh. Of all the people, a doctor, you're sick. I know. I know. Because Maya was starting to get sick. And so anyway, I ended up, I ended up canceling that interview.

She sounded a little better yesterday. Not yesterday, Saturday. So in the morning, we took her to the park. And then yesterday, again, like creeping, like you can hear it in her voice a little bit, sniffling. I thought, I don't know, she might be all right. it's like it's the slowest onset illness i think i've ever seen but it's kind of like it's uh wavy in its uh seriousness yeah i'm at two weeks in and i'm still coughing i'm 100

i don't think i'm spreading anything yeah but i can't stay indoors at all times i feel great in fact they golf on friday i walked the martin it was fantastic but just it's a big thanks to tom and nick for inviting me in and hosting another fantastic event joey there's a lot of people over there that they were happy to meet me. They wanted to meet you. Hopefully they did. They did. And people like Bitcoin Jim, his wife, his sister-in-law was there. They're big fans of the show. These Bitcoin Jim and his wife are big fans of the show. I'm not sure if you got to see the two stewards over there.

I didn't see them. I didn't see them. No. I gave, I shook Brent's hand briefly as I walking by, which I had a little more time of this. But I gave Mark a big old bear hug. a nice guy. And then what was funny is there's a lot of Marks over there. It seemed like every third person's name is Mark. And there was

a guy Mark and Martin from Hamilton. Sorry, Mark is from Dundas. And Mark from Dundas says, man, I wish I met Joey because he's a tall dude and it's hard to like once you meet him, you would never unforgettable because he's just like a very, just a tall guy

plays volleyball. At least his daughter does. And yeah, he's a cool dude and big fan the show. So man, oh man. There was even 11 year old there. There was an 11 year old kid. Son of a gentleman my name Mark who's been on our show. Mark has been in our show. This 11 year old is a huge bitcoiner.

Love it. It was incredible to meet all these like like-minded people. Like Andrew for the first time from Bull Bitcoin. Yeah. Andrew's great. And that was there. Yeah. Ben and Ben. Yeah. And Dan from the Canadian Bitcoin conference was there.

Like, it's just so fucking cool to meet all those people. But I will talk about this because I want to transition later into the show about the Mark Carney thing. And a lot of what was discussed over there, I think we could talk about Mark Carney. We will talk about it for sure. I want to show to out one young guy I met Misha, who had so much to say. And as a young Bitcoin, I think he said he was 23 years old, runs a lawn care company. And Len, Len, this guy's at the event.

upright in the conference hall there had back surgery a few months ago. Three fused discs now. And was there, you know, talking to shit and having a good time with me and a few of the other guys there talking Bitcoin. It's always good to see everyone. We went for dinner after it chopped a lot of us and, you know, did a little shop talk, did a little family talk, did a little whatever talk. I think the best thing about that crew, you know, Tom and Nick and Aiden now, too, working with the team obviously.

and Nigel and Anthony and all those guys. Like they've done so much good work. And you know how you know you've done good work when you build a community of people who consider each other friends. And I think they've managed to do that across silos, you know, which is huge.

When they come approaching, quoting stuff that we've said in the past. I've said stuff. I can't believe I fucking said it. People come to me and fucking quote some of the lost tapes. The lost tapes. You can't even find them online anymore.

I think these are more recent stuff too. And it's just, I can't believe I can't fucking say certain things. You know, and you get riled up. You get fucking just angry. Nothing you can do. Nothing you can do. You just got to just speak your mind. I wear my heart on my sleeve.

That's the only way to be. Let's talk about the sponsors and we'll get into the show. Easy DNS. Best place for you to be hosting a domain, porting a domain, buying a domain, whatever. Mark's got you covered. Easy mail domain sure. A couple extra bucks. Pay to get secured.

Not only that, you can pay in Bitcoin, which you cannot beat. And also, if you're into the, this like open cloud stuff, you can do your DNS management through a bot that easy DNS will run on your behalf and you can communicate with your telegram and whatnot. Super cool. Obviously, a huge friend of the show, a friend of Len and I and our flagship sponsor takes Bitcoin. Go there, paying Bitcoin, paying cash, do whatever. Easy DNS.com. The promo code is CBP Media. You get 50% off your first round of buys. And you ought to be buying. Let me tell you. You ought to be buying. Who's the other sponsor?

That's cool, bold Bitcoin. I love Bill Bitcoin. You love Bull Bitcoin. You love Bull Bitcoin. Why? Because they are the best in the game. They are expanding all throughout the world. We're not going to talk about the expansion, though, but we will talk about where they are at Canada, Western Europe, Latin America, and we'll see what happens next. Good place to do your buys, good place to do yourselves. They are a non-custodial exchange. This is what you want, because when you have a custodial exchange, you have the end of getting rugged. And I don't want to get rugged. No, neither did you, but you won't get rugged by using bold Bitcoin. You can also pay your bills with them you can do a lot of different things check them out they are the best in the game use our

link below if you already haven't signed up if you haven't what the heck you're waiting for and if you do use our link below to sign up all your buys and sales forever will be cheaper so check them out can't beat that man uh do some boosts i guess and then we'll do whatever housekeeping we have left and go from there i think i only got one boost it's business cat 1337 sats and he says powerful is he talking about me talking about you what's talking about i don't know it's us together. Powerful. Okay.

Thanks, Luke. Appreciate it. I enjoyed listening to rock paper Bitcoin this week. Actually, I'm about like two thirds of the way through, I think. So I recommend that podcast as always. And then obviously the 49th parallel with Luke and Corey, who have both been on the show, Corey, frequent co-host, actually. If this illness continues to develop inside my throat, you may see Corey again soon.

Who knows? We'll see. We'll see. Nothing this week. I'm going to try and reschedule with Dr. Amitay for the next few weeks. The next interview I have is with Mike from OnRamp.

We're going to be talking about some of the stuff they have going on there. It's a service I use and probably many of you guys use actually. The dashboard especially is really good. OnRamp has a few podcasts you may enjoy or have heard of. And I'm looking forward to talking to someone who's been at the

helm of a Bitcoin company that's not necessarily entirely focused on being an exchange, which is I think increasingly rare these days. It's either treasury exchange or nothing. So I'm looking forward to that conversation with Mike on, I think the 6 or something like that. I forget.

But it's scheduled. So look forward to that when it happens. Well, well, well. So you want to talk about some Bitcoin stuff? We ought to. We ought to. Let's talk about Bip361, right? It's the lead story here.

I understand that the algorithm likes when we talk about stuff like that. So let's discuss it. I'm going to be very, very brief about this. says what a fucking shit show. This is turning up to be. It's trying to deal with the quantum stuff. And it's using a sledgehammer approach when a scalpel probably is the best approach. And essentially what they want to do, they want to make certain addresses that are going

to be invalid spending. So they'll be resistant to quantum because they'll be locked. So you're essentially basically locking up coins and freezing them for the purpose of not being able to be subjected to vulnerabilities due to quantum. What a stupid move. this is. Let's be realistic. We've got to be a little more fluid than this rather than just simply locking it up. If somebody could guess my 12 or 24 words, and if I did have a or several passphrases and gets them, you know what? It's game on. They deserve to get it just because

of the time and effort that they put into that. And I think the same should apply to just about anything out there. The Bitcoin, if you think about it, it's the networks. You might have the keys to it, But really, you know, it's still the networks. You get access to that particular address and you can move the UTXOs from one to another. So if somebody could get access to Satoshi's one way or another, either through just brute force with traditional computing or with quantum computing, all the more power to it. Freezing addresses, this is the fucking wrong way of doing things is if they freeze these addresses, how much time before they freeze your addresses? Maybe because of something you said, they've something you've fucking written. You know, like this is not fucking Bitcoin.

This is free and open to use. You don't want to fucking freeze it. That's an Ethereum thing, if you ask me. That's an U.S.DT thing. Let's look at this fucking bullshit. Yeah, I don't think this is not palatable for any way. Nobody is suggesting, I don't think anyone anywhere with a serious, like with a balanced head on their shoulders is suggesting freezing coins as a mechanism for, like, like, why,

why do you care this much? We obviously just finished Bitcast and Joe Consorty was. on today because we were down two guys, Ben and Walker were both out. And he made the case that if you look at the past Bitcoin sort of bare markets where selling has obviously been the dominant force in the market, especially related to the price, obviously, that the coins that are quantum vulnerable right now, including Satoshi's coins, would be absorbed in like 120 days. So could you stomach four months of selling in the name of not freezing coins, not making a mistake and doing something stupid to the network. I think this would jeopardize the network

reputation too more than the coins would be worse. The freezing? Yeah, freezing. Yeah, yeah. We can't be free. We cannot be freezing coins. We should just be eating the difference on the market. Many people have made the comparison to sunken treasure in the ocean. I've never pushed back on that. Just I want to note that if you find sunken treasure in most countries, it's not actually yours. It belongs to the country in which the seas are located. So just FYI, I like if it's serious treasure, it's not something you can just take home on your canoe. But, you know, all that aside, I don't think this is a palatable BIP. And it's not going to be taken seriously, I don't think.

But on the bright side, good to see them considering this stuff. Good to see them talking about it. Just need something a little more thoughtful. And like you said there, we don't need a sledgehammer approach. We're not quite there yet. So let's not go crazy here. So if your numbers are correct. And if we're talking just a four month and I say just a four months drawdown,

it would really wreck the price of Bitcoin in that four months. For million coins. For sure. Floods to the market. It will be absolutely. Travis each four is the price of Bitcoin, but it won't kill it. Bitcoin in 2017. When I first got in, got in just about the all-time high in December of 2017.

You me both. And 2018, every month down, down, down. Even the beginning of 2019, January and February, that's what it hit is fucking low. that was a year and a couple of months of just just getting chopped lower and lower and lower and and Bitcoin has gone down what 70 80 90% in price 40% off the high right now you know and we're like I would assume as bullish as I am for sure you are too as bullish as ever so I you know it would suck for people that are short term trying to use their coins for tourists man yeah not tourists even people that live by Bitcoin. If I am using Bitcoin, I'm living through it, it would absolutely suck.

But as somebody that's still trying to get to a 0.1 Bitcoin goal, this would help me out tremendously. So I look at this as potentially a opportunity to stack more Bitcoin. And there's going to be some of this coming down. The market's going to react to some negative news from Bitcoin. So be ready. There's going to be some more volatility moving forward. who knows, 75 may seem high in a few months. Right? Who the fuck knows? You have all these.

2000s in the treasury companies. There's a lot of treasury companies out there. They're still sitting on a lot of Bitcoin and they bought on a high. And if they start selling because they're forced to, because of pushback from shareholders or from whatever, that's going to be a lot of sell pressure that's going to have to be dealt with. And like 75 and who knows, maybe we'd be in the 50s. But, you know, who knows?

I have no fucking idea what's going to happen to the price of Bitcoin. I don't think we talk about it on the show for the obvious reason because it goes where it wants to go. It's impossible. How many times we're going to get burned by predictions? Like how many times we talk about people who came into the market sold their house for Bitcoin and like, you know, your new 20% two weeks later? There's people out there that are, they bought precons here in the greater Toronto area and they're down. Only worse performing asset than Bitcoin. since November

Toronto pre-con. Which was funny because at the event, and I don't want to say, you know, they're all like hard-assitude, but real estate. Anyways, we'll talk about that later on.

Sure, sure. Anything else you want to talk about 361? No, I'm going to unplug my miner because I just realize it's running and not mining anything

because my network issues from yesterday and I haven't reconfigured it. So I don't want to burn that out if I don't have to. You can give me, what's the next story? I'll talk about ledger. Okay, let's do it.

The story with Ledger. So for people who are, unaware. And it's always a ledger story. And we talk about it on the show, although this isn't specifically to do with the shittiness that is ledger. It's still a ledger story nonetheless. Some Brazilian cybersecurity researcher noticed that there were some cheap ledger devices for sale on the Chinese platform Alty Express, red flag number one. And the ledger nano S plus. So the two red flags is eight. It's coming from. I'm a third party, Ali Express, and the second red flag, it's cheaper than what you would

if you bought it directly from Ledger themselves. So right there, you know, a couple of red flags. But still, they decided to buy it and see what's up. They did it with the intention of examining it, learning about it, see if it's the real McCoy. They weren't going to use it distorted Bitcoin. These guys were just simply doing research. So they decided they bought it, they got it, they opened it up, they compared it to

an actual ledger device. And it is exactly what you would expect it to be, different chip set in there, different software and the device is strictly there created to steal your Bitcoin or shitcoins. And every recovery phrase and pin code entered onto the device was not encrypted. So is there stored in plain text? And furthermore, that information was sent to a remote server for somebody to use at a later time. The device also included a link to the.

the fake or to a fake ledger live app, which by itself wasn't properly signed. So there's a lot of red flags here too that you're looking at. And this is an exact reason why you should never buy something like this from a third party. You always approach the source, buy it directly from them. I'm going to use cold card as an example. I keep using them as the example because I use it. This is what I know.

And I'm going to just talk about what I know. Then the cold card when you buy it, it even says, if you look at the website, examine the package. Take a look to see if it was tampered with. Okay, it wasn't tampered fine. Then what you can do with it, you could examine it because it's all semi-clear in terms of you look and see if the device itself was tampered with open. Furthermore, you could download the software to firmware.

You could verify the software on your computer, and then you could upload it to the cold card. If the chips weren't legitimate, it wouldn't accept the firmware you're trying to put up. You have multiple different ways you could determine that the device is genuine. Furthermore, it's air gap. That's a bonus. But what I'm trying to get at is there are devices out there. You should purchase direct from the source. And you have ways to ensure that it is fucking the real McCoy.

Please, if you're going to buy something out there, I don't recommend ledger. But if you're going to have to get a ledger, buy it direct from them. Don't go to fucking Ali Express. Luckily, nobody's reported losing any Bitcoin, but maybe people have, and they're just too embarrassed to fucking say it. Or they haven't yet even noticed because they don't check. Because that's a fake Ledger Live app. So who knows what is reporting?

You can say that, yeah, you got your 0.1 Bitcoin. But in reality, that's been fucking long sent, mixed. And, well, you know what, be careful. That's all I got to say. For once here, you can say if you're a Bitcoiner and a guy who owns a Coin Kite product, for example, one of the coal cards, especially the MK4, MK3, even the Mark 5. These are difficult to use devices compared to the easy GUIs that you see on ledger, Trezer, even passport by foundation.

But you don't really have to worry about anything, like Glenn said, because you have an opportunity to inspect the device, the package, comes with the double serial number, right, on the package, and inside the package as well. So you have all these different ways to verify. And then on top of that, you get the software direct from the CoinCite website. There's no app store. There's no nothing, right?

Everything that comes from the Coin Kai website is legit. You can check its hash. You can check its validity. And then Bob's your uncle after that. If you can't guarantee, like here's the question, right? If you can't guarantee the supply chain of your products, what can you do to preserve your Bitcoin once you start using the products that arrive at your door? Do you have to go to the store physically to buy them?

Is there a chance that Amazon drivers or mail carriers or whatever are going to start tampering with these things? I think there is a pretty good chance that this will start happening. We're seeing already like an increase in, you know, $5 wrench attacks, I suppose you'd call them in France, because government officials are selling information. How long until mail carriers sell information, you know? How long until there's a handheld device you can just bring with you to see if there's a hardware wallet in your, and your set of parcels for the day. I think if you're a Bitcoiner

and you don't have a quality hardware wallet yet, that's going to stand the test of time. I honestly think, Glenn, that soon the odds of you being able to get one without putting a target on your back are going to be pretty low. Side to say, but between credit card companies, websites,

mail carriers, there's just too many ways people can get your information. And once they have it, good luck. You're always going to be on the defensive. and that's not something you want to be, especially as things start to go sideways economically and, you know, I would argue culturally too, but that's a story for another day. It's dangerous, man.

It's super dangerous. And so this is why, by the way, on this show, we always say you shouldn't be able to access your Bitcoin. Like, I truly believe this is something we were way ahead of the curve on, and people will start to embrace this as the median position pretty soon. Because there's really no other way to guarantee that if someone comes to your door with information you didn't share but was taken from someone along the way. you have no defense. There's nothing you can defend yourself with except for not being able to access your

Bitcoin. You use a wallet like Cove or Sparrow where you can deposit and then if you need to get your Bitcoin, it's better to have physical barriers, time barriers, whatever, that make it impossible for someone to do with a gun to your head, you know, if they show up, which is exactly what you want. There's this new movie that's coming out called Bitcoin Killing Satoshi. I can't fucking believe. This is even becoming a reality.

The plot is fucked up. And it's a war correspondent was hired by Calvinair to investigate Craig Wright. And she's going to an investigation to investigate him. And through that, she comes across conspiracy that involves people like Jack Dorsey

and Mark Zuckerberg and even fucking Visa. And the conspiracy is they're trying to destroy Craig Wright's reputation. And the film is trying to answer the question is Craig Wright a fraud. How much more film do we need for this? I don't know. What are we doing here?

$70 million to make this joke. Is that the number? 70. Yeah. And in fact, it would have been 300 million if they didn't use a lot of AI to help create the film. So they had this huge idea that they want, like a waterworld type idea, and they use computers AI to make it much, much cheaper. Waterworld. How many people in the chat are old nuts to remember Waterworld?

Probably not many. Do you remember that? Of course. Obviously. It was on TV when I was a kid. I never watched it. I just know of it. I just know that, you know, whatever.

So they made this movie and it's universal that universally known that. Craig Wright is not Satoshi. The UK courts have decided and fucking said, I quote, this dude, lied to the court extensively and repeatedly. And they even forced him to put on his social media and his website, website to say that he's not Satoshi.

He didn't create the Bitcoin. White paper. He didn't create Bitcoin and a whole bunch of other things that just we all agree upon. Why do this? I'm not going to watch it. I didn't watch the Peter Todd one. I didn't watch the Adam well the Adam back when I read that fucking thing

as much as I could but I fucking I gave up three quarters away through I'm not going to watch this fucking thing Banglatochi I didn't fucking watch that guy when he was on stage I keep forgetting about that I cannot forget about him on Latoshi So this is all just fucking a joke

I'm not going to get any fucking You get some air time here but I'm not going to put any eyeballs in it Yeah I don't even want to talk about this I can't believe this is going on Craig Wright the only man who's legally not Satoshi, right? Anyone else could be Satoshi, but he is legally not Satoshi according to the UK. I mean, legally I could be, but let's be realistic.

He can't be. He can't be. Realistically, I don't have the competency to do that. I'm old enough to do it, but I'm going to have to. Yeah. There's this interesting website called Bitcoin Education. Dot quest slash time chain dash TV. It's a lot to swallow.

But Joey, what this is, it's a, if you're looking to cut the cord, and a lot of people are cutting the cord if you listen to the people on our CBP Discord, and this is all the result of your discussion last week that I'm not going to say who it is in case somebody might get in trouble, but somebody bought an IP TV package with Bitcoin. Yeah, so if you're looking to cut the cord, this is all Bitcoin content. Check it out. It's pretty interesting. It's a bunch of TV channels simply just showing Bitcoin-related stuff.

put the link to it in the chat for everybody that wants to take a look at it. I'd be curious. Are we ever on there? And that's the thing. There's a podcast and debates channel. We should get ourselves added to it. We should. As I saw

on there, I saw Peter McCormack. I saw the guys from TFTC doing stuff. So, you know, there's an email address. If you go to the website, it says if you want to get added to it, just simply I found this to be interesting. So people that want to get just Bitcoin

content and you want to just look at it and you know you cut the cord you want to save some money this is you know interesting website may not be like you're not going to watch a 24-7 no let's be honest you know it's a step in the right direction I guess yeah I don't know it depends on what channels

are on there like I would watch us BTC sessions I would watch playable characters Brandon Gentileys channel I would watch Walker's stuff I would watch I don't know. There's a show right now.

The next step for VPNs. I'm just randomly some sites here. Inflation and the collapse of civilization. Freedom to innovate. Sounds like some nice background noise. Who's watching this shit? I don't know about you,

but I am trying to like actively recalibrate my algo to be more sports ball and less like civilizational collapse. But I'm having a hard time doing it because I just keep clicking on the same stuff. Yeah, boomer in the chat saying him and Luke on the 49th parallel, 100%. That's another good show. Rock paper Bitcoin, got to get those guys on there, all my favorites.

I don't know. I'm more and more disappointed with some of the content in Bitcoin because I think people, again, it's not a knock on everyone who does this full time because I think some channels do this well. But there are a lot of channels who have to put out something every day and it's garbage. It's just them like reading off a website, 10 minute video, whatever. and there's no insight, nothing drawn from experience, nothing of value. You know, one thing we tried to do early before we were really good, I think we're really good, at providing some insight and some valuable content, is I used to think about what, you know,

what can I give people that they can, like, say at a party to sound smart. And I still think that there's a place for even that on YouTube in the world of AI-generated scripting and slop and all this other stuff that goes on. But I'm not sure that I would watch or subscribe to a network. of channels that just ran whatever Bitcoin content, presumably had what, the most like followers, plays? Like how would they determine what's on? I don't know.

What I would say, though, it's like another place you could go. Because you enjoy your sports ball. Yeah. I mean, there are people that just don't do that. So they have to fill a void without watching football, basketball, and whatever else you watch. And so, you know, especially the cold time of the year where you can't do much outside, you know, throw that shit on.

watch something that just seems like pseudo TV. That's Bitcoin related. Give it a shot. I mean, it's good to have options. And we should get added to there. I don't know. I'm going to watch Raptors game tonight and we're done this show. I'm sure you are.

That's what I'll have on, yeah. I'm sure you are. And it seems like yesterday that the halving took place and we crossed more than crossed the halfway point into this halving. So the midway point was block 945, 945, 945,000. at. Let me take a look. What heck, we're on it. So we're at 945, we're almost 946,000.

So there you go. So we're past it. And last time was April 20th, 2024. Exactly two years ago today. It's expected the next one will take place end of March,

early April, 2028. The anticipated date as of right now is around April 10th to 12th, but this could change because depending on how difficulty adjustment works and how many miners get energized or de-energized. And so it's gone pretty quick the last two years. It seemed like just yesterday, blinking, it's going to come the next halving. The next halving is going to cut the rewards in half as I do every having.

Right now it's 3.1, 3.125 every 10 minutes on average. that's going to drop to 1.5625. The miners out there, they're going to feel it. They're feeling it already. They're feeling it already. Right. There's competition. I mean, a lot of them are already pivoted to going to AI

because that seems to be the greener pastures. But unless the price jumps substantially, and we're talking at least a 2x or higher, it's going to, I think it's going to change the landscape. of Bitcoin mining as a corporate entity. Agreed. So I look for it. Price of power is going to become a politically volatile issue over the next few years.

And Bitcoin miners are going to be unwilling participants in that discussion and it's not going to go well for them, I believe. Now there's the other side of that token is maybe, you know, the White House decides that Bitcoin is politically important to them as much as AI is. And they go that direction and try and encourage data centers and mining. operations. I don't know, but it seems to me like most communities, I mean, people are throwing maltov cocktails in Sam Alton's toast. You know, like people don't want AI. They don't want data centers and Bitcoin mining for all intents and purposes, especially for Genpop is the same thing. You're looking at the same picture, right? And I don't think people are ready for what that's going to do to mining as a corporate option for these companies. So they're going to pivot to be third

rate data centers, which is all they can do, by the way. Like, love the guys at Iron, obviously, but they're a third rate data center. Same with all these other guys like BitFarms jumping that direction. They don't have, not only do they not have the proper PPAs, but they also don't have the proper hardware. You can't just buy, you know, what are they called, H100s, H1,000s, whatever? You can't just buy them, okay? It's like a Rolex.

You want a Rolex. You have to buy a bunch of garbage before Rolex will sell you like a submariner. You know, it's just not the way it works. And so I think Invidia is probably the same. to secure your place at the top of the food chain in terms of the available hardware, they're not just going to give it to you right away. Certainly not if you don't have

$100 billion to spend over 10 years like these guys do. The hyperscalerscalers do. So let's see, but we're on the same page here. You're overlooking something that the economy today is rough. And a lot of people have adjusted into different lines of businesses. And there are people out there that are breaking into people's home stealing those Rolexes.

So why can't those guys pivot to go to those? they're in AR farms and just fucking steal on the equipment put it in the black market and in a keel infrastructure aka bid farms pick it up on their cheap so you know there may be opportunity out there

not just for these companies to buy it in the cheap but also people that are providing this and this equipment on the cheap it's just a brand new right and you could use Uber whatever Uber fat Uber H100

you can get all your GPUs now via low wage foreigner going driving around in a know, Honda Civic or Kia Sorrento or whatever those cars all are. Do they still have a limit of how old the car has to be? No, buddy, some of the shipboxes I see pulling up to my place with Chinese food on Saturday night, like give me a break. I will say sign of the economy being down.

A woman, white woman, came to deliver food two weeks ago to my wife and we had some friends over for dinner and had her husband in the car with her. So either he's there to protect her or he's there because he's got nothing else to do. But in either case, not good to see, not good to see. I told this story before on this show. This I think was two years ago. And I was going for a walk in my neighborhood. And I saw somebody delivering something.

It was Uber Eats or for whatever a fuck. But they were delivering with a Tesla Model 3. and to see that being used for this. It makes sense. Cheap to run. I get it, but it's not a cheap car to fucking buy to use for just delivering a food

and shit like that. But that's sign of the times, right? Maybe they need it. Got the subsidy. One of my friends just bought, not one of my friends, my dental hygienist, just bought a Tesla and was telling my wife

when she was up there for a cleaning last week that she was surprised that not only, do you have to pay for the Tesla, but also you have to pay a subscription for FSD every month. Correct. You don't have to get the FSD though. Yeah, so it's like, you know, own nothing and be happy. They can raise the price on FSD basically any time they want under the guise of, well, more capability, whatever. It's crazy. It's like you're selling the most expensive car on the market with the worst resale value and then treating it like an iPhone, you know,

new heat with software. Do they have terrible resale value at Tesla's? As far as I know, I mean, after a certain time, after a certain amount of time, the battery, like, it degrades to the point where you're not getting great mileage. You can't replace the battery for, I don't think less than 20 grand when you include the disposal fee in battery. But yeah, so. The, they test them. I don't want to make this a Tesla for Tesla show,

but they test them, they retest them, they make sure that these batteries, you get X amount of battery life after, and I forget what it is after like that 500,000. It won't matter. It won't matter. Like in cold weather,

they test them in probably great conditions if I had to guess. You know, I'm not a test of myself. Everybody that has one in this neck of the woods loves it. They have no choice. It's like when you ask people about, you know, if you ask the guy who just got shit on by a bird, whether or not getting shit on by a bird is good luck. What do you think the answer is going to be?

So if the guy who bought a Tesla says that he loves his Tesla, he's not thinking, he's either not thinking about the back half of the life of the Tesla or he's just like trying to not talk about it. There's one guy. It's not like this isn't like conjecture. It's well known. There's one guy I know And it's anecdotal As soon as a car

Went to 100,000 kilometers Had to sell it Because his wife didn't want to keep it Because it's spent the car Yeah She's like that So this one he says He's driving it to the ground

This Tesla And he had all these high-end cars M3 C63 And you know Like cars that are like Fucking really sporty He's like

Got rid of them all Just this one And he's going to ride this to the ground Because he loves it. You're great cars, but I too. I think he's had it for seven years now. Let's have him on the show.

Why not? I'll play golf with them. You've got to join us for some golf. Yeah, I'll be out there on the course. Yeah. And you know, the go back, we're talking about mining and shit like that. I think that the biggest signal here as to Bitcoin mining as to where this is going is when you look at Bid farms, when they moved over to or they transitioned to keel infrastructure.

Yeah. Oh, yeah. When Ben Gagnon, the guy that is so synonymous with Bitcoin mining decides that the company that he's spearheading no longer is going to do that. They're going to pivot to AI. Like that's, you know, when you go to HPC rather than Bitcoin. Huge shift. Huge shift. Like, let's look at it.

It's an ideological. It's an ideological capitulation in my view, which is more telling than the business side of the whole thing. I'm amazed to see that more companies haven't done that. anyways you know what let's get them all off fucking so that way and yeah as a garage miners we could I mean I I I like I'm a legend I'm a well no I'm in a solo mining so I'm trying to get for the big you know I want all the words myself I don't do in a pool so and just split the words I want to check your CBP contract we're splitting everything if you had a block I still clearly didn't hit a block so you're not getting anything so that's good for you very quick because I didn't

get much information on it, aside from the fact Bitcoin Core version 31 is now released. It's now live. It's now there. Apparently, it makes the Mempool, the redesign. There's fully redesigned now and it is smarter logic as a result. And RBF broadcasting transactions via Tor. So you could do this and you can be quiet about this and secure and very, you know, it's interesting. Apparently there's better, no performance on the box. I hope the IBD is faster because it, once you get to about IBD's initial block download for the un-initiated but yeah

when you get to 20-23, 24 I forget exactly when it slows to the crawl it's brutal yeah up until there it's you know with meager components you could like have a laptop that's now 17 years old almost and it works fine up until then

oh there's fucking slows down I'm not doing any more lockdowns with this guy but this what this does version 31 makes then version 28 no longer be supported for security updates. I'm still running 28. I'm going to have to, I guess, migrate to 29. And 30 is the one where they changed it.

So that's a big one. Yeah. Yeah. So I'm going to have to make a decision what to do. Maybe I don't know. I thought about just simply changing the code itself and compiling it and see if it works, right? Just change it.

How hard can it be? It's one line for what I can tell. It's one. You know what I mean? But I don't know if it's going to fuck up anything. I'd have to do some past things. Dependencies and stuff. Yeah.

I don't know. I love to try it out. It takes, I mean, I always compile. By the way, I always compile my node when I fucking, my computer. So it does take a couple of, you know, an hour or two to get it done. But I have the time. I'll just do it overnight, see what happens. So Bitcoin, core version 31, if you are running it, I know some people are.

I saw that. Pletitor mentioned he's running it. Wow. Yeah. A little confidence there, maybe? I don't know. I mean, maybe he was joking, but he said he's running it. The next time he tells a joke would be the first time, I think. So I would imagine if he said it, he's probably doing it.

Okay. We'll see. We'll see. Yeah, we'll find out. So people out there, if you're running a lightning node and you are using Thunder Hub, or considering about using a Thunder Hub, there's an option over this. This is pretty cool that you can enable to withdraw. euros from your lightning note to your bank account. So you have LN in your account, sorry, in your lightning note. And you could directly withdraw that in euros and send to your bank account.

Seems pretty fucking cool. So the way it works is you create a self-connection, enter your bank details, choose lightning or on-chain, and you get a permanent address link to your bank account. And then you could even set up using lightning addresses for it. And so that's one way just to simply convey. what you have on your lightning node to fiat that is cool that's i think that's really cool but what's the what's the problem with this doing so you have to putting a target

you docks your node you dox your node yeah yeah at least maybe not your node the fact that you do run a node yeah right this guy with this bank account is sending bitcoin to have it converted to you got it you got it so there's cool and you know you know if you scratch a service it's like oh man maybe some bullshit long with this but you know what the bullshit it's going to always be there let's be honest i'm not going to convert the fucking fiat at least not now i hope never i really hope never i would love just to convert this strictly to a good or service in the future but i understand people need to do it for whatever reason especially these days as times are getting tough so

for sure i look at this you know interesting story interesting you want choices and uh But, you know, one thing we've been, I think, pretty steadfast on over the years is more choices, more competition, is more options and drives progress and new ideas into the market. I don't know how many lightning node runners want to do this. But I think it's got to be the beginning of something bigger, isn't it? I mean, this would be a nice to have for a lot of people. You got to figure most of the people who are living off of Bitcoin do have a lightning node, right? They're thinking about this stuff and be a little more than the average person, certainly more than the average Bitcoins. So I would imagine this is the exact population you'd want to target with this. Let's see if it really breaks out. Last story I think we'll talk about because I think a lot to talk about in the back half. Blitzpool. Never heard of Blitzpool before. They're hitting blocks.

Blitz pool. Well, they're well, I'll just first say, the address. The address. address blitzpool. Your Device.c.h. That's a Swiss address. Zero percent fees. And this is the first stratum v2 solo pool. You could keep 100% of the block rewards. Open source. This is located in Switzerland. And the miners themselves can now construct. their own block templates. So those who run their own node and want to build their own templates can do exactly that using this particular pool. Blitzpool.

Your device. That's C.H. Typically when you're in a pool, not typically always when you're a pool. Only one is Ocean. Other than that, you know, you've got to be subjected to whatever template they want. So if they want to not include transactions because of whatever reasons, the government say the OFAC, OFC, is that the one? OFAC, whatever.

Yeah, they say don't want to do these transactions to be included. They're not going to be included. And if your miners pointing to that pool, you're helping that out. With this one, everything is also K-Y-C-free. Interesting. Like I say, I like choices. I like options. And I like to see stuff built out like this.

Yeah, I am a fan of this too. More competition, the better. The only thing people get more upset about than what version of the software you're running is what pool you're pointing your miner at. People hate Ocean. They hate solo miners. They hate, you know, different pools for different reasons, two corporate, two KYC, OFAC, whatever. This is this is another mechanism of the market telling you what the market wants. And I would, I would like to see more pools personally. I think we'll probably have to wait until the next having for really big developments in the sort of home pool space, just

because as we talked about earlier, most of the corporate miners will go offline and take their pools with them, I think. Some of the big ones obviously will stay. You don't expect F2 pool or whatever to disappear overnight. But some of these other, you know, tier two, tier three pools will probably start to really fall off and give an opportunity to a lot of garage miners, which is going to be fun. It's going to be a lot of fun. Bitcoin is not, at least since we've been in it, has never really had that, right? Mining was already corporate in 2017-18. It was beginning to become corporate.

So a decade later now, maybe we're on the wind down phase of that. We're going to see more of this like Blitzpool stuff and other other competitors. I'm hyped on that. Especially as the mining gets better, as the equipment gets better, like Twan stuff is always getting better. I want to see what these guys come up with because they're going to be at the core of a lot of this, a lot of this independence when it comes to mining. Yeah, at the time when we got into a hive was around hot eight. Yeah. And there was even one mining farm in Hamilton.

And it closed down. That's right. I totally forgot about that. It closed down because of the bear market. Yeah. And they weren't able to. Canary in the coal mine, right? They were the first grave.

Sorry, RIP, RIP. All right. Let's transition to the last thing. Yeah, let's go talk about some news. If you're with us on video, stay here. We're live. Hang out, like the video, do all that stuff. If you're on audio, come back on the other side.

And we will see you then. And don't buy a fake ledger.