The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - BTC Hits an ALL TIME HIGH, But Does it Matter (Yet)? | The CBP 216 Pt 1

Episode Date: May 27, 2025

FRIENDS AND ENEMIESAs Bitcoin hits an all-time high, investors are wondering if it's finally time to celebrate. But does this milestone really matter in the grand scheme of things? In this video, we'll dive into the factors driving the BTC price surge and explore how it relates to the current economic landscape. With inflation on the rise and governments considering carbon taxes, is Bitcoin truly a reliable inflation hedge and wealth preservation strategy? We'll examine the Canadian economy and the potential economic impact of this digital asset on traditional money management. Tune in to find out if Bitcoin's all-time high is more than just a fleeting milestone.#BTC #Bitcoin #investing #FinanceJoin us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com⁠Discord:   / discord   A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetworkThis show is sponsored by: easyDNS - ⁠⁠www.easydns.com⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. With DomainSure and EasyMail, you'll sleep soundly knowing your domain, email and information are private and protected. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for 25% off fees FOR LIFE, and start stacking today.

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 and formless, listen to Len and Joey.

Sponsors taking care of right off the top. Bull Bitcoin and easyZDNS, the media is feeding a slop. It doesn't matter what topic's discussed. Quality entertainment and information you can trust. That's being planned or at least discussed. We're not gonna allow the devisers to say anything. Send the guys some value, boost them with some stats. Bitcoin is a scarcity asset.

I mean, it's just a fact. Geopolitical, national down to the local cloud. Friends and enemies. Welcome back to Canadian Bitcoiners podcast coming to you live. Not from Las Vegas, from the basements here in Southern Ontario. My name is Joey. That's Len. How are you? This podcast is also not sponsored by Sui. We're just keeping our normal sponsors here. You know the funny thing is, we talked about it for people that are tuning in and wonder what the fuck we're talking about. It's a Bitcoin conference. It is sponsored by that Sui coin protocol. Whatever the fuck it is. And I need to pull the sponsors up now. I got to pull them up. There's a lot. By the time you go through them all, Joey, we should do ours first before we do that one

I think let's do yeah, we'll do that. Okay, so we'll get rolling here easy DNS There's a lot of sponsors on there easy DNS is the best place for you to Buy or port a domain. I cannot stress this enough. There is no one better We have heard from so many people over the course of the sponsorship partnership music Yeah with easy DNS that mark is the easiest guy to get along with, is the easiest company to do business with, and of course Bitcoin friendly. Takes Bitcoin, has a Bitcoin balance sheet strategy. Long before Mike Saylor there was Mark Jefdivic. Len, they

have a lot of stuff going on over there. They have Easy Mail, Dom domain sure, many other options and add-ons you can grab to secure your data, your customers data, your client lists, your email lists, your domain, prevent it from being spoofed. How many times you got to talk about someone stealing data with domain spoofing? It happens all the time. We don't want that to happen to you and so we're recommending that you go visit Mark, not to mention Len, virtual private server stuff. For all the Bitcoin enthusiasts, you can run a Bitcoin Node, Nostra Relay, B2C Pay Server, all that

and more at your fingertips. Plus easy stuff like WordPress plugins and other, you know, I think nice to haves that you may not even realize you want when you sign up, but Mark has available for you over at EasyDNS. Go use the code CBPMEDIA, take 50% off your first round of buys and start something today. Big shout out to Mark, man, sponsor. Yeah, and I wanna blow him a little bit more here too because EasyDNS, like let's be honest, how many companies in this field,

especially during the dot com boom, came and went, and still decades later, they're still around. That is indication how good, how the level of service they provide. If it was shit, they would have been gone a long time ago because they're still around and people are still using just it's a testament to what they do, what they offer. So it's not called shitty DNS, right? We're not, we're not, easy DNS. Yeah. Yeah. I just had to blow him a little bit more there, but they could let's go on with the blow jobs. He'll go to bull Bitcoin and give them a fluff here. And so look, the price of Bitcoin, my block clocks on the Fritz right now.

Still, it's been a week. Yeah. So it looks like it's, uh, it may not be working anymore, Joe. Oh no. Yeah. Paging HODL D, Paging HODL D. And I've been talking to him, but I have to communicate him with a little more, but really nothing has happened. It just stopped. But it's nothing to say about the quality of CoinCard products because I still have several Markfors. They work fabulously. And this has been working wonderfully until recently. What the heck was it? Me? I don't know. Either way, it's $109,000. That's the price of Bitcoin in USD, right? Either it's a good time to buy, good time to sell, maybe it's a good time to do nothing. Either way, you could do all those things with bull Bitcoin. You could buy, you could sell, you could also do

nothing. So they'll be happily, if you want to give them your Canadian dollars, you want to give them your Euros, your Costa Rican Colonies, whatever the Mexican Pays will still take. And they'll be happy to take that and give you back Bitcoin on chain lightning look the fees are still very cheap last night checks So still stack on chain, but you may want to start learning other things like lightning and that's well Bitcoin It's good thing to do with them because you could just do small amounts and buy like $20 worth of Bitcoin other things You could do you could use your bill service to pay your bills. It just going up the page, the front page, just go, um, what says exchange for fiat or something?

I did that the other day. Uh, it's just, it's really easy to, to pay your bills. And I like bull Bitcoin user referral code below. If you do that, then 20, no, not $21 deal. So 25% off. Yeah. It's 0.25% of your Buyers moving for in perpetuity. So yeah, send fiat payment. That's the one if you go to their website You go send fiat payment you could click your your bill or what you want to send it to you can even do easily Send money transfers with your Bitcoin send money to a bank account with your Bitcoin

It's just simply so like that's that's amazing where you can just send e transfer and initiate it with your Bitcoin. Well, Bitcoin lets you do that check piece of cake man piece of cake. Cool additions that they have the exhaust to all they do is add all they do is add quality over there. I mean, there's no doubt about it. That's why we have them as a sponsor hit them and Mark are about as good as you're gonna find. Where do you want to do some boosts here? Some boost booster unis? Yeah, we could do that. I only have two boosts that I have noteworthy to bring up.

Top W Cone, 250 Sats. And he writes in Steak and Shake. We talked about that last week. He said, jumped in stock price so much because it did a 20 to one reverse split. For every 20 shares you have, you now have one new share. A lot how like nations with fiat hyperinflation money. Try to fix the problem is very similar. Shift the decimal point a few steps to the left. And I love that stuff. So I didn't realize that they did a reverse split. So maybe things are not as rosy as what I was painting it out to be.

I don't know. I don't know. We're testing out this comments on on screen thing that Streamyard is offering. I got to tell you, I hate it. I'm going to take it down. Yeah, I know. I don't know. We're testing out this comments on screen thing that StreamYard is offering. I got to tell you, I hate it. I'm going to take it down. Yeah. I'm going to take it off. I can't stand it. I will reply to the comments as usual. Yeah. Yeah. It would have been better if it was bigger, but anyway, I don't want to dismiss the second comment because I want to give this person there just desserts here. So it's more BTC dick 500 sats. So he writes in with respect to the last interview you did, Joey says the cut off at the end was Savage and he's a smiley sorry, a laughing face emoji. Okay, I will say that I'm not gonna whatever I'll just tell you when we finished the interview., I always say the same thing, like tell people where they can find you or whatever. And you know, when I finished, Joe said, thanks

for having me. And I said, take care. And I ended the stream and Joe, at the end of the interview, kept talking after I said that for like 30 seconds, just telling everyone how great he thought I was as an interviewer and as a person. And you know, wise beyond my years and all this stuff. I appreciate those comments. And Joe is one of the most down to earth smart guys that I've met during the show. And, you know, he I don't think he gets enough positive press for the work that he's doing on the longwave side. The cycles of Conditriyev and Kitchen and, and you know there's a few others that he follows pretty closely we discussed them last week these are neat concepts that a lot

of Bitcoiners I think ignore because you know economics bad or whatever or cycles bad but you know these are things that have proven out over time and one of the things I like about the Kondetriev waves are you know it's it's it's not they aren't necessarily economic forecasts but rather social forecasts and there's no denying that we are in you know an era a thousand year maybe longer era of social cycles. The rise and fall of empires, the rise and fall of peoples, the rise and fall of religions, the rise and fall of economies and armies and currencies and all these things.

And to ignore that, I think it is unwise to discard that information and that knowledge as irrelevant. You're much better off adding this to your arsenal, adding it to your tool belt and giving yourself another lens to look through. As Bitcoiners, one of the things we do really well is look at global events through a Bitcoin lens. I would say that looking through events through a cycle lens is a good idea too. And Joe gives you that in spades.

So I'm glad that he came on and I look forward to talking more with him. He's outstanding, outstanding man, outstanding thinker. And I had a lot of fun chatting with him, not to mention Len. He was very generous with his time. We finished the interview probably an hour and 15 minutes, and then we just hung around shooting the ship for another half hour after that. So, you know, I'm always a fan of people who hang out after and, you know, talk shop, talk content, talk stuff that maybe you wouldn't say on the air. And I always appreciated that doing the show. And he delivered both on and off air for the CBP. So hope you guys enjoyed that interview. Yeah. I have nothing else to add to that, Joey. We were going to be talking about the sponsors.

Let's do some housekeeping first. We don't have an interview this week. So if you have an idea for an interview this week, tell me. Otherwise, I don't know, maybe I'll just wing it or me and Len will shoot the ship for half an hour or I'll see you if anyone else wants to come on. But with the Vegas conference, all the people I've reached out to are in Vegas or doing something adjacent. Those BTC progress this week, BTC, Bitcoin conferences this week. And not to mention then it's a long weekend for the Americans. So Memorial day, right? Yeah.

So like there are people are traveling and doing stuff this week and it's just a tough, um, a tough scheduling week. So we will try to put something on this week. And if we don't, we don't, but I think you'll see us Wednesday or Thursday night, regardless Thursday this week, I'm recording the Money Talks interview for this weekend. So I'll be on Mike Campbell's show talking about Bitcoin. Looking forward to that. Just, you know, do a heel move. Just record that live for our show.

Use it. Yeah. I could listen. I'm sure he wouldn't mind, but I'm not going to do that. I want to send people to Mike. I'm open to suggestions on what to discuss. I think I told you, or maybe I told our other friends from private chats, you know, of a bygone era. My plan is to talk to Mike about two things really. One is the decrease in volatility on the downside for Bitcoin and its relationship to something I've talked about on the show, the idea of slow money, which I think is a good thing for Bitcoin and its relationship to something I've talked about on the show the idea of slow money Which I think is a good thing for the traditional finance crowd to understand and something they probably have a handle on at some level I may also talk to him Len about

the move in gold and how it relates to Bitcoin as far as store value and how gold really is not necessarily an inflation hedge, but rather economic uncertainty hedge. And Bitcoin may show itself to be the same thing. So I don't know, I have a couple of days to think about it. I'm gonna do some research and think about some of the stuff I've said on this air and some of the stuff I have written down that I never really fleshed out and think about what I'm gonna talk to Mike

about this weekend. But I'm looking forward to doing Money Talks. Money Talks is great. It's one of my favorite shows. Mike is one of my favorite people. And I'm excited to talk to Mike about this weekend, but I'm looking forward to doing Money Talks. Money Talks is great. It's one of my favorite shows. Mike is one of my favorite people and I'm excited to do that one yet again. I think this is my fourth or fifth time on that show. Are you going to talk about Macron?

Do you think his wife actually punched him? Like, you know, it was just a push. It wasn't a punch, but like a face push something or he could even, it maybe wasn't a loving gesture, but it was enough that like, you know, you wouldn't do it to like a stranger, right? And you wouldn't do it to somebody that you love too. But still, if you're gonna do any of the two, probably somebody you love. But it wasn't, it didn't seem like it was something

that it hurt him. Maybe his ego? Yeah. Or than anything else. It looked like his ego was hurt. The face he made immediately after ducking back toward the hand. Embarrassing. Yeah, I would be embarrassed too, for sure.

That's a grounds for divorce in my books, but that's neither here nor there. Yeah. Anyway, so that's this week in CBP world and that's all I have to say. Do you want to talk about the sponsors for this? I mean, I'm looking at the sponsors for the conference. Nakamoto is the headline sponsor which I like but you know you may feel differently about that. BTC acquisition vehicle like us is the the name of companies like Nakamoto but this other sponsors are not great you know I'll level with you. I'm not a big fan of some of these.

You're right. What is this showing? We just talked about it before the show and we'll just kind of rehash really quickly. And I made a comment. It says like the level of which they'll take money from anybody. There is no, there's no bar. It's basically as long as somebody shows up with money, it looks like they'll take it from them. The perception I have may not be the reality, but it certainly looks like it to me. And then you had a comment, you were saying that

because of the speakers they have, it's very costly. They need to pay bills and they're getting speakers that may not be totally adjacent to Bitcoin. Yeah, they're just not. Like Nigel Farage is not a Bitcoin. And I don't want to put words in your mouth. Do you feel free to correct me or? Yeah, I know. You said it right there. Like I think what's happening is there as the conference expands, you know, the speakers expand to meet the needs of the expanding conference.

And there's a cost that comes with that. And so if you want to get Brian Johnson, David Sacks, the Winklevoss twins, Eric and Donald Trump, Ross Albrecht, JD Vance, among others, you know, that's probably a couple million bucks minimum in speaking fees. Those guys alone might cost you 10 million in speaking fees. And so you got to get 10 million dollars from somewhere for those guys. And it ain't coming from ticket sales. So where are you going to get the money? Well, you get it from the suey blockchain.

Now, the bigger question for me is like the people who go to the conference, do they look at the sponsors and think like, oh, maybe suey is worth a look as part of my crypto portfolio that right now is Bitcoin only. Like, I don't think having suey as a sponsor is exposing anyone who doesn't already want to learn about Sui to Sui. Does that make sense? Like I don't think people who go there are like, oh yeah, wow, that's a sponsor. I'm going to check out their tent.

Like I don't think that's the case. The timing of this is funny given I never heard of this coin protocol. What a shit name too, Sui. What the fuck is suey? Yeah 100% and for people who aren't aware it was involved in some sort of liquidity problems with one of the decentralized exchanges and some somebody was able to Do a hack on the smart contracts introduce a phantom token. I could be wrong in this because I read about this a while

ago and millions and millions of dollars were siphoned as a result of this and it's a shit coin right and it's shit coin that's decentralized but they claim to be decentralized yet they are blacklisting addresses and trying to roll shit back and like it's not decentralized when you could do that. When they have validators, I can't believe they fucking have validators. I'm talking about that that are in cahoots and trying to block shit. That's not decentralized, right? That is truly a centralized garbage. Yeah.

But this is what's being promoted over there. The air quote Bitcoin conference. What the fuck? So other interesting sponsors here, like I'm just looking through the the sponsor tiers now. You guys can go to b.tc.com and then just look at the Spiders. A lot of mining company appearances here. Clean Spark, Mara. Mara's in hot water. American BTC. I think that's the HUD 8 outfit, right? I'm pretty sure. Fold, you know, we talked about them before. I'm not sure where the market product market fit is for their Unchained. I like Blockstream

is their Bitmain, Cancer Fitzgerald, cancer Robin Hood. Yeah. Robin Hood's there. Meta Planet Coinbase. This is an okay ones like, like rumble. It's fun to have one. I saw joy. It's on the first year. Go to the, this is the moon section. You see they got the very last moon one. What is that? Wrapped Bitcoin. Yeah, I don't know. WBTC.

Wrapped fucking Bitcoin is fucking sponsored. Wrapped fucking Bitcoin. So it's just from the WBTC website here. It's the title text. WBTC unlocks the power of Bitcoin on various blockchains, such as Ethereum. It's not a womp, womp, womp, womp. I don't want to shit on it anymore than I already shit on it.

I continue to think the conference isn't that positive. I could be, you know, I don't think I can be convinced otherwise. I still continue to support the work Bailey is doing. But I do think that what they've found themselves in is a bit of a flywheel here. Everything is getting more expensive. The conference gets bigger every year

and you just need the money to come from somewhere. So you have to expand the speakers list and get sponsors who wanna be attached to those people and get their cash, right? So, you know, is what it is. I'm not saying that it's necessarily a good thing, but I can see the rationale and that's a conference. You know what I'm curious about then? Why do they

keep calling it the Bitcoin conference? You know at some point you have to call it something else right? Like it's even if you think it's a crypto conference. I wouldn't call it that. What I would call it is something like something aligned with like freedom or liberty or I guess like the libertarian party has all those trademarks. I don't know. But would that, would that apply when you're talking about rap Bitcoin, when Ethereum rolled back the chain, would that apply, apply with the sweet thing or whatever the fuck it is when there are blacklisting addresses? That's not freedom.

That's not, it's more about, it's more about the freedom to choose, not really the freedom to influence. And so you can choose to buy those things, knowing what you're getting into. That's the case I would make. I'm not working for Bitcoin magazine PR, but I fucking should be. You're showing them a scam. And this is the people that are sponsoring our fucking scam projects. They deserve to get no airtime. Is this even on the stories list? I don't remember this being on the stories. We just chatted about it off before the show started and we just continued on. Let's talk about the all time high because I think that's something and do you do you

care? I put it in the title. No matter. Do you care? I don't really know. It's fun to talk about, but I don't care from what I gather. It seems like nobody gives a shit about it. It's great, right?

If nobody gives a shit, I love that. And so it was like, which is great. Right. If nobody gives a shit, I love that. And so it was like one 12 K ish. One 12 exactly on Coinbase is the all time. Ah, and from what I gather, I didn't verify this, but I was reading that it did not hit an all time high against other quote unquote major currencies like the British pound, the Euro, the Swiss Frank and a few others. So take that for what it's worth. It hits the all time high with respect to USD and probably Canadian as well.

But I can't confirm that. But nobody seems to care. And so what does this mean? You know, the people are saying that the search hits on Google is down. But then again, a lot of I don't think that's a good metric. I keep on seeing the click baiters tweeting that out. Look, retail is not interested. Like no one is asking what is Bitcoin anymore. That's such a stupid metric now. No. Take this a step further. Okay. Isn't Google taking a hit with their search engine in terms of people using some other

alternatives out there? Yeah. Also also Google is actually adding a GPT secondary search function to their home page I think I saw at their most recent announcement slash conference slash whatever their like developers day. So yeah you may be right possible. So maybe and maybe this is all you could just part and parcel of it all. Who cares? There are still a lot of people that don't understand Bitcoin though. I mean, you may think who's asking what is Bitcoin? The majority of normies out there, they just heard of it, but they don't understand what it is. They got to be educated on what Bitcoin is. So there is a lot of learning to be done. So here we are. Nobody's searching about it. Nobody cares about it. You don't seem

to care about the all time high. I certainly don't give a fuck about it. Don't get me wrong. It's not that I don't care. I just, I don't give a fuck. I do not give a fuck. It's just another day, you know? Like, yeah, exactly. Yeah. If it was 10 K, I wouldn't give a fuck as well. In fact, I'd be more bullish at 10 because I'd buy in a heck of a lot more at 10 K than I am now at 109. But whatever, fuck it. Let's move on to the next topic. We exhausted that one. Bitcoin Pita Day. We're just going to be, you know, we got to go through. I just, I don't care about this either. Honestly, we do this every year. We do. Yeah. I don't give a fuck about this. This

guy spent a bunch of money on pizza. Fine. It's the first, you know, real dollar transaction, quote unquote, you know, gives Bitcoin some value love it yes yes yes I don't need without that it you know the 320 billion dollar pizza or whatever this guy's there we go it's for those two pizzas that's quite a lot of money for each yeah for people are unaware it's May 22nd 2010 this gentleman my name of Laszlo made an exchange of 10,000 Bitcoin for two Papa John's I think I was pizza Papa John's valued at $25 US and so that if you tried to do the mathematics as for today's dollars, it's around $1.1 billion he paid for that. But before then, there hasn't been any, at least not that was noted an exchange

between Bitcoin and getting some sort of goods or service. There may have been some people doing it offline under the table. Yeah. So and without this, this something like this is needed at the time because then like you mentioned, it gave value Bitcoin and Bitcoin is is a medium of exchange it's not being used as that right now but in reality that's what it is it's a peer-to-peer exchange if you look what Bitcoin is it's just UTXOs and ownership and control of that of the Bitcoin addresses that's what it is so we should be using a more of a medium exchange I'm guilty of not using it as such. I am going to use the excuse why I'm not is because of the reporting requirements and it's

it's I don't want to say it's bullshit. It's it's just it's an administrative headache more than anything. If that was gone, I would spend Bitcoin like crazy. But yeah, does it exist? It's just for me, it's a it's a burden. I think, you know, in, in your day to day life, we can maybe talk about the search. This is like a search query question too, but you know, as far as Bitcoin goes, do you have more and more people asking you about Bitcoin that maybe you talked to about it five years ago, six years ago, two, two years ago. Now, when you see them, you get questions about like, Hey, how about Bitcoin? Like how much, how how do you think it's gonna go should I like how do I buy some blah blah blah I had a guy on my football team on Saturday I was

wearing my shake pay CBP shirt to play football and the guy on my team I've been playing with for like six seven years now at least he's like I love shake pay I'm like you should be using bull Bitcoin but the whole thing the whole point of the story is that like this guy who's, you know, probably 30 or so, you know, he's never talked to me about it, but he's now buying. I'm sure there's a lot of other people like that. And so, you know, whether it's the Bitcoin pizza day or other, I guess, semi public, semi notable, semi fun anniversaries or factoids about Bitcoin.

I do think it contributes to maybe global awareness. And every year someone has to hear about how many billions of dollars those two pizzas are worth. Five years ago, Bitcoin pizza day, those pizzas were only worth, you know, what, 50 million or something. Who knows what the number was? I don't know. And now that number is 100X what it was 10 years ago.

And so that number gets bigger every year and people who are on the sideline are thinking, whoa, like that, I don't remember it being that big last year or two years ago, this number is getting huge. What is the price of Bitcoin? What is it? What does it do now? Can you spend it? Can you use it?

Can you loan against it? Whatever. So in that respect, yeah, it's a good story to have every year. And actually, John in the comments, making a good comment too, I'll put it up on the screen here. The pizza day is like throwing salt behind us. It's to remind us of the foolishness of letting go of sats. I think that's a fair point. I've spent some time on some funny stuff, but I regret every penny Satoshi that I've spent over the last 10 years for sure.

Yeah. A hundred percent. In context with respect to this transaction, this guy Laszlo can't look back and say it was shitty because there was no value really for Bitcoin. Yeah. Nobody was going to take it in the real world. So you needed somebody had to start somewhere. And when the value of Bitcoin was penny, I mean, I don't know what he could just bought 10,000 more for, you know, 50 bucks.

Yeah, exactly. That's why people are like, oh, he must feel bad. You know, I'm not sure. Somehow I doubt he feels much at all about that. Probably and probably not. Those times, you didn't know what the price of Bitcoin would have been moving forward. And if anybody you're mining it and you're exchanging the cost of electricity for at par for some good, you're like, okay, let's do it. And if you're not thinking that it's going to go up in value significantly, so you're not going to, you know, whatever you spend, you're probably not going to replace because you're looking at this.

It's just, you know, free money. Like I just mined it for free with just electricity. So the idea of just hoarding as much Bitcoin as possible, probably it wasn't in people's minds. So he probably didn't replenish it, but who would have like... That was true. That was the true Vanguard, right? That was really the go west era of Bitcoin. Literally zero, like zero in terms of what was on the horizon for Bitcoin at that time.

Nothing, nothing, completely unknown fog of war. And now, you know, we've come so far, obviously. And it could have been easily 51% attacked by any one with enough energy and enough firepower. So the project could have been derailed. There could have been so many ways that this thing could have been just kiboshed. It didn't. It was just quietly left alone until it grew. And now, you know, the horses left the barn and they closed the barn door. Don't matter. Fun, fun comment from a boomer in the chat. Laszlo invented ASIC

mining at one point. Satoshi messaged him and said, leave some for everybody else. How's that? So, you know, he some for everybody else. How's that? So, you know, he's doing all right. CG miner or was that the way I don't know. I had no idea about that though. I think he did something to do with Macintosh OS or Mac OS. And so something with bringing Bitcoin into that. I don't know if it was core or the CG miner.

So you can mine using Mac. He did. He did GPU mining first. Mixed picks is saying, yeah, there's a lot of comments here about this guy. I didn't know this about Laszlo. That's interesting. That's a, that's good. Good trivia there. Good BTC trivia for the next chicken wing and beer night at your local pub. You can answer those questions when they come up. This is a beauty of a story, Joey, this next one. Okay. And it just highlights to be careful with what you buy, the hardware you buy and the

software you install at a company's hardware. It's a Chinese printer company called Tian Sheng. Say no more. Printer. Yeah. Okay. They found a very interesting way to steal people's Bitcoin. And people may wonder how the fuck is this possible?

How could a printer company steal people's Bitcoin? Well, the official driver for the pre-colored printers contained a back door inside it that allowed a program to steal Bitcoin. Horrendous. That is so fucking brutal. Just fucking brutal. Just fucking brutal. And the amount of Bitcoin that has been siphoned totals 9.3 BTC, which is about 1 million USD as of yesterday's price. And because that's when I was writing my notes here,

the manufacturer stated that they deleted the infected driver, the infected drivers, but they were sent out for global downloads. So it's out there and while people are using that, hopefully they have replaced it. And the issue has been sent to have been discovered by a YouTuber out there. So it wasn't the company that found it. It was a YouTuber that came across this and alerted everybody. The company alleged that a USB flash drive was used to upload the virus compromised software to a cloud storage service for global downloads. They're saying that somebody

was responsible for this, it wasn't done internally and well there was a worm malware that was included and a Trojan called Foxif. Just one word Foxif. So this whole thing is another example why you would not want to run Sparrow on a computer that is not dedicated to run Sparrow. And always when you do send out your transactions using Sparrow before you press broadcast, ensure that everything aligns properly, that the address you're sending it to is the one you want to send it to and the amount is what you want to be sent so people that are using this I would imagine they had some hot wallet set up me I don't know like a metamask version that has Bitcoin that's what I'm guessing and these people were wrecked as a process they

were shitty privacy they were employing they're using shitty printing companies and they were just downloading stuff. So there you go. A fucked up story. So be very careful. Make sure you run your Sparrow on a dedicated Sparrow computer. Yeah. I mean, the other thing too, that I see people talking about all the time, even guys who have been in Bitcoin a long time and some group chats that I'm in, always asking if there's a way to verify that the Sparrow, because Sparrow will give you an update link in the app. So if you open Sparrow and there's an update out,

it'll tell you there's an update out and there's a little button there you click it, it takes you to sparrowwallet.com, blah, blah, blah. That's scary for a lot of people. So you can always check the hashed LEN, right? Which is an easy way to make sure the software is verified and exactly what you're hoping to get. And then the second thing to do, always the same, like compare the letters and the addresses that you what you're hoping to get. And then the second thing to do,

always the same, like compare the letters and the addresses that you think you're sending to, to the letters that show up in the application that you are using to do the send. Like those things have to match. And if you don't take care of those types of little, I'll admit can be monotonous and tedious, you know, extra 10 seconds or 15 seconds of just review of a transaction. This is how you get stuck in one of these things, you know? Like that software, yeah, okay, it's trying to siphon your Bitcoin. That, you know, that virus, that malware is, yeah, it's inserting wallet addresses that are not yours, but it's all preventable.

Even if you do everything wrong, if you just take that extra 15 seconds, Len, you turn out okay. And people don't do it. It's insane. Your money is so important and everyone is used to this world where no matter what goes wrong with you, there's a 1-800 number to call that'll make you whole. There's no 1-800 number here. You have to take the extra 10 seconds to make sure that you don't get rugged. And yet every week, what do we talk about more rugs? It's just crazy. It's crazy. It never stops. And until the Bitcoin, you know, stash of even the smallest

Hodler is worth $100,000, then maybe people will start paying attention. But it seems to me that we are just not at that price threshold yet where people are going. Okay, I have to take care. Like you said, dedicated machine, offline keys, passphrases, multi-sig, you know, meet space security protocols, delayed sends, time locks.

Like eventually everyone will get this or start to think about it at least. But I mean, when people say, oh, when are we gonna start thinking about that? Ain't anytime soon because people are still not even checking the addresses before they send. So a lot of time to go. A lot of time. Yeah. And somebody fat fingered this and I don't have the exact details. They're just going up memory.

Somebody fat fingered a transaction. I think they paid like one point six or one point three. Yeah. BTC. That was a while ago. Yeah. Just in the last seven days. It's happened again. Yes. Wow. Yeah. So how. Just in the last seven days, it's happened again. Yes. Wow. Yeah. So how does that happen? How does that happen? People are diligent.

Like you say, when they finalize the transaction, they're analyzing everything and making sure everything matches to what it should be in their head. And they're just proceeding. It's maybe the only thing I could think of. They mistook BTC for sats they thought maybe it was gonna be maybe success That's the only thing I could think of but if you're gonna just be very careful Triple check things to make sure is it like you say there's no 1-800 number to call There's no CEO you're gonna be calling up to fix this once you send it out

It's gone and somebody else is going to take it it's no longer in your possession so bitcoin is the ultimate in terms of you have ownership and the onus is on you it's always going to be it's so like it's so hard i'm just i'm just making like a test transaction on sparrow right now and it like it is so hard to pay more than you're supposed to pay for a transaction. Yeah, it may not be fair that I was using. I don't know. Like I am just gobsmacked by this. Every time I see a story like this, I just don't understand it. Even if you send money on ShakePay. So I still pay my cable with Bitcoin my like whatever TV IP whatever it's called IPTV. My alleged cable yeah that's right I don't

I don't actually pay it but allegedly if I did I'm like OJ Simpson if I did it if I did have IPTV yeah the remote doesn't fit yeah if the if the fire stick doesn't fit you must have quit so fire stick doesn't fit, you must acquit. So, you know, when I allegedly use ShakePay to send, they still have an option to do a free transaction every month. But sometimes I just venture off into the fee pay area. And even them, like they know people want to send fast. So their default is like, I think it's like two blocks or three blocks.

It's like half an hour. It's still only like $2. It's like nothing. So I'm trying, like I'm struggling to understand, number one, how much Bitcoin would you have to be sending to get to one Bitcoin in fees? And two, how fast like, like, like instant transaction next block is one sap per VLite right now. So why do you need... I just I don't understand it. The men pool has been empty for weeks. Not empty, but like basically empty. And so like what... Well, how do you manage to do this at this time? It's like an impossible mistake to make unless you are intentionally trying to make headlines. Seems like...

Agreed. How would you do it? Well, what things would you Well, what, what things would you have to check? What boxes would you have to check? You're talking like hundreds of Bitcoin cent, right? You must, you must be at least that much. And then you're talking like a fat finger on the, on a manual entry for stats per V byte. I don't know what else is probably even more. I got to think about what else it's a lot. It's a bunch of UTXOs and trying to consolidate that, I guess, the one output, I guess that would be so a lot of messy UTXOs that haven't been dealt with over time. And then so it would have to be the perfect storm, like something like that. And then fees being high.

So yeah, that would probably be the environment in which you would send one BTC for that transaction. But yeah, we're looking at it now and to do it in this environment, it's clearly like user error. They fucked up royally. And in the past, the miner has been very good in terms of refunding some of these folks that has been. So I'm not sure if they're gonna do that this time around. Probably not. My guess is no. That's only one BTC. Like it's not a lot, right? Yeah. The other ones are like five plus. There's a couple of good ones. Yeah. There was a couple of good ones over the last year or so. Haviar Miele. We haven't talked about this gentleman for quite some time. What a surprise this

is. I don't think either of us were that big on Haviar. And, uh, no, I went back into the show that when he was first elected and I listened to our comments and yeah, we were very skeptical about his involvement with Bitcoin about V.P. right again. Well, how many people will talk about it because this guy, you know, there's maybe a little bit more to them than just wearing an alleged wig. And still, I don't know. I can't say for certain. It's, you know, so telling people that guy's wearing a wig, buddy. Okay. There's no doubt about it.

You're saying it's a hundred percent or it's like 99 percent. I'm on it. Yeah. Yeah. I bet the farm. Yeah. So this guy for people who are unaware, forgot, remember the Libra coin bullshit that took place?

It was this past year in February. Melee was promoting it and it was part of a project called Viva la Libertad. And it was Jesus Christ. It was to be used for financing private ventures in Argentina using blockchain technology. It just fucking screams of fucking scammy bullshit. And even after a month, I can't believe people in the real world believe it. The price of this pumped after Miele was promoting it and to nobody's surprise, the price collapsed shortly thereafter. It was in traditional

rug pull style that we're all familiar with and people made out like bandits people on the inside and they were able to really do they dumped their holdings and so Miele he was you know looking bad he decided to launch investigations right heads would roll hair would be cut no nothing none of the sort the office responsible to look into this and investigate what happened has been shut down The office responsible to look into this and investigate what happened has been shut down Melee said that the unit has completed their task It's a signed task and that's been done. We don't know the results. Maybe they'll Report this we don't know but their findings right now are just truly unknown

and uh Yeah, it seems like this guy is a little less transparent than initially built, right? Yeah. If he goes in a stiff wind, does his hair come out? If he goes in the rain, do we notice it? This is the transparency we want to see. Then on top of that, we have this Libra coin stuff. This is more bullshit. But remember, a lot of Bitcoiners, they were rejoicing when he was elected.

All right. What was that thing you were saying? Afuera? Afuera, yeah. Now he's saying Afuera to the investigation of his own misdeeds. How convenient. I didn't remember that. I don't remember that government department being on the whiteboard. It seems that it's escaping me. I don't think it was there. And yeah, here we are a year later. How many people got fucking burned by praising this guy? And here we are. It's

just another one, another name in the list of people that they were supported. We that people supported and guys and gals and whatever heck you are. Look, if somebody is talking about it positively, that's great. And but let's see the proof is in the pudding. Your actions are going to speak louder than words. And the seat those actions are going to do span over a long period of time, maybe not just a day or not just a year, but several years, we got to see shit like that. It was interesting to hear him talk about this stuff before he was elected. But in reality, what the fuck?

Yeah, not a surprise, though. Like the big thing that seems to be universally understood among politicians is that once you get into power, the opportunities that present themselves to enrich yourself and feather your own nest in the nest of those around you is nearly impossible to resist, no matter how popular a politician, whether it's Obama or Trump or Melee or whoever else, the way that these guys treat the the most powerful offices in their land every time shows self-enrichment. And in America there's you know enough public media, private media, outfits like CBP, for example, and general pushback

from opposition politicians, who by the way, want to do the same thing, but can't because they're not in the seat, right? They're not in the throne. That it's hard to get away with it for more than one term, or more than one time, or to do something so egregious like launch a meme coin, right? In America, you know, you have Trump trying to run the Trump coin thing with his kids or his kids trying to run it.

You know, it's kind of not gone that well. I don't think a lot of people would say that it's been a success. I don't necessarily believe it's enriched anybody, at least not given its current market cap and current performance. But this thing did, you know, he did ride this to a decent little chunk of change, at least that's the allegation. And if you needed any more evidence, you probably have it now that the guy shut down any look into the misdoings, you know? It really tells the story all on its own. So don't you can't

put your faith in politicians, you know, whether you're a conservative or a liberal, whether you're a small government guy, big government guy, whether you're a libertarian or a communist, like the chances of your chosen poll getting into office and doing all the things you wanted not disappointing you are 0%. It's a 0% chance. And so you have to look out for yourself and be aware of the things that are going on in your country and your economy and whatnot. And don't rely on people to save you. There is no, there is no Messiah coming to your White House or White House equivalent anytime in the near future.

Have you heard anything about Argentina, how they're doing since he was elected? Because I haven't, I haven't followed it. I think their, their, their inflation went down. I think I heard. So things are improving. Yeah. But you know what Len, like I say this all the time. I look at, I look at countries that are improving a lot.

Like I look at dogs that need training. Okay. I think about my first dog Scoop, God rest his soul. Great dog, but was wild that first year. And my wife couldn't handle him. He was big, he's rougher than my current dog Moose is. And I liked it because, you know, we got along and him and I had a good relationship, me and the dog. But my wife and him did not have a good relationship. She did not like the wrestling, did not like the aggression, did not like the sort of alpha dog behavior.

That dog famously always looked you in the eye, which I now know is like a sign that the dog is trying to establish dominance. I didn't know that at the time, but you know, I digress. At about a year, my wife told me that she wanted to take the dog to training, to McCann's. I remember this. I remember the story. We chatted briefly on the school's location, and I still remember exactly what was said. What did I say? You were saying that, look, the dog's a year old, we're going to shell out some money for training. And after some period of time, the dog is going to be a little

more calm, a little more obedient. What's the thing that's interesting as well? The dog is no longer an adolescent. It's now grown and it's just- You will go when you are at the bottom of the barrel, right? Only when you see the bottom of the barrel will you go to dog training for, you know, I think we ended up paying like a thousand bucks for 10 weeks of training. It was expensive. McCann's is very expensive over in, like out past Clapston's corners here in the area. And Scoop was an incredibly trained dog, like knew all the tricks, incredible recall, never had to wear his leash outside the house. We only put his leash on if we were walking in the neighborhood because other people didn't like that he was off his leash, but never wandered away, never

didn't come when you call him, all that stuff. But the point is that that may have started to become the trend regardless. And so when I think about Millay and Argentina, yeah, things are getting a lot better, but like how much worse could they have possibly gotten? I mean, short of falling into failed state gold machine gun territory, you know, anyone you put in there after the government, the stretch of governments they just had, would have done a better job with the country, right? And so you can't say that Millay is the guy who's really, you know, he's been the node

for all the changes, right? Now he's done some good things. I'm not arguing that. Much like McCann's, you know, taught me how to give a treat properly and make sure the dog comes back to you when he's not listening or whatever, right? The question is, after another six months or year of me giving the dog treats, the dog might have realized that I always have treats and just come to me anyway. And you know, Argentina may have turned it around regardless of who went into power. And by the way, Len, what does turn it around even mean? Does turn it around mean they become OECD competitor? Does it mean they become a powerful trade nation?

No, that's a great point. What does it mean? You haven't fallen into complete disrepair Okay, I don't see you. You know your population is not featured in World Vision commercials fucking congratulations You know, but the one thing that's happening great outcome anybody over there is it like I don't fucking think so periodically their currency disappears and they replace it They they have our solar hits but they haven't done this under his tenure Yeah, right. So if they're able to maintain a currency from beginning to end of his tenure, I would say that's a success as long as the currency doesn't get devalued in total.

Like it's going to be devalued. All currencies I'm just talking about because significantly and that that's what I would say would be successful. But maybe my bar is so fucking low bar is so low for everyone over there. It's the lowest bar in town. Yeah. Yeah. Whatever. Let in former sponsor of this show.

Yeah. Yeah. I didn't realize that I didn't clue in to wrap in. I like your story. And they decided you're no longer going to be catering to the ETH crowd. I love this. Starting July 1st, they are, what they say going to be Bitcoin only, but they still have offerings for stuff with respect to USDT and USDC.

Yeah. The stables for sure. For sure. Yeah. They're going to be doing custodian loans only, and they're going to be sunsetting the ETH slash BTC growth accounts. And the ETH move didn't really pan out for them. They say that 95% of their customers are using Bitcoin as collateral.

So very few people are using ETH in that respect. I think that's true. And if you look at it, if you're on ETH, if you're let me just say something here. If you're on ETH, you don't need to use let in to get yield or loans. There's so much shit going on on the DeFi side of things. And these guys are all just degenning into God knows how many of these different DeFi protocols you don't need let in. Right. So I do think that's probably true.

Yeah, I don't know. Can't add anything to that. And yeah, they just don't going to be ditching ETH. And I love this is not available in Canada, let in because of regulations. They want to be available in Canada. Mauricio, you know, of course. Yeah. Of course. Unloaded on me at the first Bitcoin conference in Toronto a couple of years ago about, you know, how he, he wanted to keep sponsoring the show and just couldn't do it because they were, they had to leave, they had to leave the country. And, you know, he, I asked him, you know, and we've talked

to him since on the program, you know, when you guys are going to come back. He said, when we're wanted, when we're, when we're invited, basically, you know, and there's a lot of good businesses. You can agree or disagree with the lead in model, you know, you may feel differently about re-hypothecation and the risk they take with the Bitcoin that you give them to get the yield. That's fair. I'm not saying it's not fair, but that's a good business. You know, Mauricio, I think he's a good guy, he's an honest actor. And to push a business like that out of the country pisses me off. I'll add one more thing.

What do you think the discussions were like around the lead in strategy table, watching the price of Ethereum go sideways and down for four years, three years, whatever it's been? Like they must be looking at that and thinking, we can't keep using this as collateral because everyone's just going to get called on this if the price keeps going down and it's too dicey. In their eyes, isn't that a good thing? Because people have to, it's a good thing if people can put up more collateral, but if they can't... And if not, they just liquidate them and then... I guess, but you're still at a loss probably. You're still holding a decreasing token.

You're still dealing with legal problems. Those things... Liquidating someone costs money. It's not just like... I don't know the whole mechanism here. I think it would. I mean, I can't imagine it's just like Maurizio pressing buttons at the computer, like liquidated, liquidated. Yeah. And then I'll change the ETH to Bitcoin somehow. And then, yeah, I'm in the better. I'm guessing that's what they would do. I don't know. I don't know.

Fucking really know. I'm glad to see this though. It's a signpost, as I like to say. And you know that they're one of the sponsors for the Bitcoin conference as well, right? They're on the list of sponsors. I'm okay with that. I like it. I like it. So they're there. All right. I think we'll talk to guess one more because there's lots of stuff with clowns around the world. Sure. Talk about some guy named Mike Belshi on X posted something very interesting. He received a letter in the mail and it looks like it came from Ledger themselves.

Yeah. This is a crazy story actually. Yeah. Yeah. So the letter, it says that he has to complete a mandatory wallet verification and the process is asking him to scan a QR code that's on the letter and that will point to a website and in the website he has to enter a reference number that's on the letter and that will point to a website and in the website he has to enter a reference number that's indicated in top right corner of the letter. The website points to... nobody should go to this website just letting people know so be very careful don't go to this www.authorized-ledger.com I took the liberty of going to this on a very secure computer and secure browser just to check it out.

And for whatever reason, it looks like the site is down. It just points to a blank page. So maybe my browser settings just don't show anything or maybe they just checked on the website after everything was made known. The question I have is how did somebody get access to his name? Was it through a ledger hack in the past? Perhaps it was the recent Coinbase hack. Could be a number of different things. We didn't know. Remember, even ShakePay had a hack,

but this guy looked like he was American, so I don't think that ShakePay was involved. It's just every time you sign up to these services and your information is held by these folks, there's an opportunity for this to get lost in the end. So when you deal with a company, make sure it's a reputable company that respects your privacy. Because if not, who knows, you get a letter like this and maybe one in a thousand will

work. They'll go on the website, they'll verify the wallet and then, well, now it's pointed to you, five dollar wrench attack and you're fucked. Yeah, I got the same letter from Ledger actually. I didn't want to mention it but they asked me to verify my wallet. Now I obviously don't use a Ledger so I just verified a different kind of wallet for them there. I just sent them a couple of prints of a wallet that I frequently use especially when

I'm traveling. So yeah you can see there the verification. They didn't write me back once I sent them those those prints. So make it make it out what you will. You know, a lot more of this is going to happen as people are known to have Bitcoin and people have their information, they want to then tie it to that particular address and figure out how much they own. Yeah, it's fucking bullshit. Steer clear, man. Steer clear. And time lock. Time locking your Bitcoin is a wonderful thing. By doing that, there's nothing you could do. It's time locked. It can't be moved until a certain period of time. Time locking, like 2FA for any exchange related stuff. You have to do all this.

If you don't have 2FA on, just stop listening and go do it and then come back. That's what you should be doing. Anyway, we're done with the Bitcoin stories. We're going to move to notables. Len, I have one notable story I want to add. Wait, wait, do you want to end this first and then we'll go to the notable section? Yeah, that's what I mean. Yeah, we're closing it up now, so stay with us.

And if you're on audio, we'll be back tomorrow. If you're on video, don't go anywhere. We're not going anywhere. So hang out. We'll talk to you soon. And don't go to the Bitcoin conference.