The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - BURRY IS SHORT BITCOIN (We Aren't, Though) | The CBP 244 Pt 1

Episode Date: December 9, 2025

FRIENDS AND ENEMIESMichael Burry is SHORT BITCOIN. Do you care? Does anyone? Plus Bank of America Greenlights a 4% allocation to Bitcoin, XXI starts trading and the British Police are spending a boatload developing a new hijab (lol). Join 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 - https://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.256Heat -⁠ https://256heat.com/ ⁠ GET PAID TO HEAT YOUR HOUSE with 256 Heat. Whether you're heating your home, garage, office or rental, use a 256Heat unit and get paid MORE BITCOIN than it costs to run the unit. Book a call with a hashrate heating consultant today.

it like a threat and one of the things that can't be attacked is your self-custody bitcoin and one of the things that can be attacked is the etf can't be exposed to that that's my view it's not a good idea and by the way that'll hit mshtr too it'll probably hit other stuff as well friends and enemies welcome back canadian bitcoiners podcast friends and enemies welcome to the cbp want to be better informed listen to levin joey spots is taking care off right off the top oh bitcoin and easy dns the media is feeding the sloppy Doesn't matter what topics discussed. Quality entertainment and information you can trust.

That's being planned or at least discussed. You know, we're not going to allow people to buy us on. You can trust send the guys some value, boost them with some stats. Bitcoin is a scarcity. I mean, it's just a fact. Geopolitical national down to the local cloud. Friends and enemies, welcome back to the Canadian Bitcoiners podcast where we have learned that Michael Burry is short Bitcoin.

among other things Palantir, Bitcoin, Lem, what's going on, buddy? Tell me about this. Why did you, why is this included in the show notes? I use it as a title. This is the most clickbaity title.

I think we've ever used. Oh, there you go. It makes you the opportunity to make that clickbait title. Did you put the fire in the background? No, it is explosions going on. Just to pick a Mike's face and some other stuff.

No. No. I would never. I would never. I did want to listen to the interview because I, you know what I mean like he he hasn't spoken i think in like 10 or 12 years minimum right save this for yeah okay okay what's going on how that's not lower low just more things yeah this good man just fucking tired but cold too very very cool yeah yeah yeah what for you i'm good man it's a beautiful

day here i uh have a busy busy week i'll be actually with mark for dinner tomorrow we have a wayside event to attend with Steve Paken of all people. Oh yeah. Yeah, yeah. You know, I've had some criticisms for Steve recently about his Philip Champagne video.

But I like Steve Pagan. I think he's a pretty good commentator and a good interviewer too. So I'm looking forward to sharing a night with him. It seems to see back on his time with the fan 590 or maybe I think it was a 1430 at the time. Him and Bruce Dobigan did a show where they paid

the fan to do a show. And so I think I'd like to hear more insight into it. Maybe you could... Where has this been a trivia coming from? Where? How did you know that off the top of your head? Like, where did that come from?

I know Steve Paken. And I used to listen back in a day. I was one of the original listeners before it even became All Sports. That was there the first day when it became All-Sports. So I remember, and then shortly thereafter, so I think it was 9.30 slot in the morning, him and Bruce Dobigan, they had a show.

Now, from what I understand it, they paid it's like it's a type of infomercial to do i'd like to know if that's the truth or not and then what happened like so they tried they paid their way to get on obviously then it didn't work out because they're no longer there but i'd love to hear about more pick his brain joy you get some information about that we'll find out if i can yeah it's a wayside event so we're um we're gonna have an interesting night there mark and i are going to get together for a bite to eat and then um yeah we'll see where the night where the night goes it's interesting um there's There's so much going on in Bitcoin, but doesn't it feel like we're not really, does it feel

that people are disengaged a bit online to you? With Bitcoin particularly or just in general? Yeah, Bitcoin. No, it seems to be, what are you expecting? Fireworks? I don't know. I don't know, honestly. It just feels like more people used to have valuable things to say and now people are

just posting dumb shit, myself included. I'm posting stuff about working out in the basement. There's a lot of people talking about important stuff. like, for example, should extra data be included in the blocks. Still a debate. Yeah. Right. And that's, you know, it's a region.

Then you got these anonymous people coming out and trying to create alternatives and stuff. So, like, it's just, this is what's going on right now. It's been interesting to read this. Let's, uh, I think something's funding that. Yeah, let's get into the show here. Sponsors up front. EasyDNS, best place for you to buy, sell domains, host domains. You can do a lot of stuff with Mark and the team.

We actually just sent a listener to the show, who I won't name to Mark for some BPS services. He's building something very interesting and exciting in the GTA. We like that. And if you, listener viewer, are building something interesting and exciting in the GTA, or if you just want a place to post pictures of your cat, Mark can help you with that too.

Go there, easy DNS.com, use the code CBCMedia, get 50% off your first round of buys. Don't forget, you can do a lot of stuff. If you're a Bitcoin enthusiast as well, virtual private service stuff, right? like Noster relays and Bitcoin nodes. Very, very fun. Not to mention Mark takes Bitcoin for services,

making the Treasury strategy cool before Michael Saylor, which we appreciate on the show. So yeah, BTC Media is the code half off. Head over. Don't wait. Bull Bitcoin. Good place to talk. Good time to buy, good time to sell.

What's a price? 90,000 and change. So who knows? It's if people may like to buy it that time. People like to sell that time. Either way, bull Bitcoin has you come. covered on chain lightning a lot of different options non-custodial and if as a non-custodal exchange you get options too you get you could do your reoccurring buys you could do your auto buys you could do

your limit orders name another not not a not a custodial exchange that could do that there's not many if any in the game that could do that yeah yeah and they're available in so many places like canada mexico and a few other countries in western europe but i want to get to everyone but i would suggest if you haven't yet used them what are you doing these are the people you want to talk to you You could pay your bills with your Bitcoin, lots of different options. They have your privacy in mind. The Bitcoin gets mixed before it gets sent to you. Open an account.

Use our code below, which if you do that, then all your buys and sells forever will be a little bit cheaper. So do it. Now, right now. Yeah, we like that. Don't forget that I said a few weeks ago, or you might have forgotten already, that we were going to give away a sweatshirt. And we never really talked about how we're going to give it away. I figure next week is the Christmas episode, right? Or is it the week after?

Week after, maybe, the 22nd. On the 22nd, we do the Hamilton-Brampton-slash other Canadian cities' rivalry stories. Sometime during that show, we will give away a Maidex bull-de-coin hoodie, courtesy of Rishi who's in the chat tonight. Too big for him. Too big for me. Might be your size, though. I think it's an extra-larger, I think he said last week. So we'll give that away.

CBP will cover shipping. Don't worry about that. We'll give it to someone in the chat. We'll find a way to make sure that we get that out. No sip and rip this week Only because I just did not have time My wife went to a musical yesterday And so I was a very busy dad all day long

But we will be back on schedule this week For the sip and rip probably on Saturday I want to talk about Elon against the European Union Because I don't think we're going to ever cover that on our show And I think that's a very important story That needs to get more recognition from people And you need to be equipped to talk about it over Christmas as well Of course

So I'll probably go heavy on that, among other things, on the next. He's locking horns with them. Sip and rip, yeah, more than locking horns. This week on Wednesday we have Twan. Are you going to do that one? I can. Yeah, maybe you do it. I'll take a night off.

And then if you haven't heard from Twan before on this show or on Twitter or anywhere else, you ought to tune in. Tuan is a very smart guy. But maybe most importantly and most relevant to the Bitcoin space, he's the guy behind 256 heat which obviously sponsors this show but on top of that has produced nothing but high quality hash heaters for a while now and we both have one I know a bunch of people who listen to the show have bought one and Tuan is grateful for that business and to be honestly Len and I are too he's always thinking about what's next though then and he's got a lot to say

about the home mining space which should be an interesting show if people have not heard from him yet. See, just a couple of comments what the NDP, the comedy show they put on. Did you watch John Davies? I mean, we talked about it. You said it was disappointing

because the guy is really just fleecing the public, right? Making fun of how he didn't really fulfill his duty as a party leader. I actually agree with you. I still think the comedy itself was funny, but when you realize that really you're the one who's being made the punchline

in the big picture, it kind of loses a bit of its luster. It's very sad. In reality, it's very, very, very sad. But I wasn't expecting to pull the trigger and cause an election. They don't have the funds. They don't have a leader. They just don't have the ability to do it right now. So they're going to do whatever they can to say that we're against this like the budget. But in reality, when it push comes a shove, they're not going to want to trigger an election. Just like the

other parties don't want to. I think the block Kibokwa has been the only one that's been consistent when they want to call an election either way. It is what it is. Boost. Let's go the boost. I got four boosts in particular I want to bring up this week. J.R. 500 sats. And he writes in, another beauty. That was from a part one from last week. Thanks, Chair.

Doug 525 sats. He says he's looking forward to the day when the UK is in CVP's Whipping Boy. And you've got to wait another week because we're going to be whipping on them later on. He said, but on the plus side, the plan is to get a hybrid has gone straight out the window. 90s V8 all the way. I'm not sure they're going to be able to find one

that's not rust the heck, but if you can find something for the 90s, I like the Japanese cars from that era. The RX7, the Supra, a lot of different really cool options that at least we didn't have available over here. The RK7, we got it for a few years, but Supra, not the fun ones.

Hammertown OG, 2,500 stats. I don't get this one. He says, I understand the message, but why he's saying it? It says, leave suck, go-habs-go, Joey and Len keep up the great work. What's with the Habs and Leaves comment? We were talking about the Monaco.

How about the Leafs getting some catching astray there? Nice. Love that. Love that for the Leafs. Hockey's already in full swing here, obviously. It started in October, I think. Are the Leafs any good? I don't know. Me neither. And Jerr, 5,000 sats.

Second time he's sending us sats this week. And he says, or writes in, how many stats will take to get Joey and Len to the sphere. Is that the Las Vegas sphere? Yeah. Yeah, it is. I don't know. There's a price. I'll be happy to go and check it.

What am I going to do over here? Just fucking look at it. I don't know. He wants to put us on the sphere. What does it cost to put something on the sphere? No, it's, it ain't worth it, man. It ain't fucking worth it. It's $450,000 a day. or $650,000 for the week just to run a 90-second ad on the sphere. Sorry, you said $450,000 for today,

but $600,000? Yeah, $600,000 for the week. It's a steel to get it for the week, right? Because you're only putting an extra $200K to get... I mean, it's a steel, I guess. It's a lot of money. That's Super Bowl money, basically, right? What's Super Bowl that cost?

Is it about a million? I think it's way more now. I don't know. I have no idea. Yeah, like if you're going to part with, why like six bitcoin fuck that seven bitcoin to the get a week's worth fuck it anymore

yeah yeah a lot of money a lot of money keep donating we'll see we'll put one of those thermometers fundraising thermometers at the side of the stream track the money the fucking thing will be there for decades all right do any other things you want to

no that's that's it let's roll I just want one more thing someone wrote in the comments on Spotify that we spent too much at the beginning of the show doing what we just did. I don't necessarily disagree that the meat of the show doesn't start until about 12 minutes, 13 minutes. But consider that everybody is in the chat talking to each other at this point.

I can see the numbers ramping up for the live viewers. Len and I have to do the boost and the sponsors and all that other stuff. Value is what you make it. And I think for people who want value, you can always just skip that stuff. I don't recommend it, but you could. I would suggest that you try and get involved in the first 12 minutes

of the show somehow vote a comment in a boost you watch live whatever you'll find that you enjoy it the first

yeah every week and like I said the business cat don't stream us that just fucking send us a boost that's the best bang for the buck

yeah yeah Michael Burry you want to talk about this goof we may as well it's in the title so I see Nathan Fitzsimmons in the chat too

I'm I'm enrolled in the Nathan Fitzsimmons school of uh slop slop titles we're not actually a slop merchant but there are some out there actually nathan gave me some good advice today on um on how to prompt AI him and walker both but anyway story for another time burry burry was right about the big short no doubt okay the gfc he got he nailed that there's been movies made about this and i just i'm happy to give that guy's flowers but what is he been right about since he just admitted like a month ago that he no longer understands the dynamics

of the equities market and had to close his fun. So why do I care what this guy says now that he's on a podcast to her? Who gives a shit? He's never right. He's never right. He's no longer relevant, I guess, right?

Is he? Well, he's still relevant. He's almost like, you know what? You know what it's like, it's like, you know, during the NBA season now, they have this thing called Michael Jordan like wisdom of greatness or something like that. And every game, they led out another three minutes of this, probably three-hour interview between Jordan and Mike Torico.

They did it, MJ's house. And Jordan, you know, was really good when he was a basketball player, best ever, in my opinion. And I just listening to him now, talk about stuff like branding and social media. He's got an opinion, but he never lived through it, you know? And so, Burry, he's sort of in the same boat for me. He crushed when he needed to. But the things have changed. Passive flows make a huge difference.

It's just tons of liquidity injections. There's a broad unwillingness to have an economic downturn. And you can't run a short fund like that. He's not the only short fund that's how trouble are gone under. Citrin famously, same thing a few years ago. You know, they called shorts on so many different things. And I just, I'm like, come on, come on. And now, John in the chat is saying that you guys are wrong and not paying attention.

His fund got the GameStop long with Roaring Kitty. Okay, he got the GameStop one. I guess, you know, big dub, but he sold the closest fund three years later. Yeah, Maggie the monkey gets, I guess, better success. And she's fucking spinning a wheel, right? So like, Maggie, her credit, because she does what she's got to do. This guy, they're going to quote him, right? He said, Bitcoin out $100,000 is the most.

ridiculous thing that sane people are sitting or sorry sitting on tv talking about it's down to 98,000 now it's not actually down to 90,000 it's not worth anything everybody accepted it it's the tulip bubble of our time it's worse than a tool how can you still be saying tulips well he's he thinks it's actually worse than that so like in fact he's going a little bit further because it has enabled so much criminal activity to go deep under right and i get it you know there's there's people have used bitcoin in the past for criminal activity about people have used the Canadian dollar or the euro and the United States dollar

for criminal activity, right? And how many times that people bought drugs, weapons, snuggle people, shit like this with the United States dollar. But nobody's saying, oh, the United States dollar has enabled criminal activity because they're happily using that in their day-to-day lives, right?

So, you know, just you can fuck right off, right? So, like, I have, you know, I haven't used Bitcoin for criminal activity. And, Joey, I'm pretty sure you haven't either. And the three people listening to this show we're watching it probably haven't either so to us five and we're a small number us five we don't contribute to that side of thing so it really it's that's not the driving factor what makes bitcoin bitcoin it's the fact that you could hold on to it it is trustless it's permissionless shit like

that you could use it for drugs yeah but you could do cash for drugs doesn't make any it doesn't make cash any shittier no it's as shitty as it was before that that transaction has taken place but yeah you know it is what it is is like he's just using the same old same old fud to basically bury bitcoin this guy's going be buried in the end michael yeah maybe i i just someone in the chat saying that he's just taking his fund private no sion is their securities license is terminated they're they're closed they closed on the 13th november is when the story dropped anyway so they're you know and buried itself says he's on a bigger and better things you know he plays bets against

palatier and invidia um i think about a year or two ago. What did he say? Sell everything or something like that on Twitter and, you know, the stock market since close to doubled. I don't know. Like, this guy has a call falling, clearly. And maybe it's deserved. Maybe it's not. I don't know exactly how he played the GFC. I don't know exactly the mechanisms of his short trade on, on the NBS side in 08. But since then, I mean, where are the wins? Not to say that, again, the one he got wasn't huge. Like position sizing, especially in investing, is everything. You know, you don't need a big win every year.

If you get one, if you get the biggest win of all time, you may find yourself willing to step away from the game a few years later. But it doesn't seem to me like he's had a lot. And if you look through some of his comments here, just a quick Google search on things he's been wrong about over the last four or five years alone. I mean, call it what you want. but I don't know

what to say if I don't know what to say if you think that the guy still has it or has a good handle on things or what you know that his... Do you think he's still going up to strip joints and trying to get his... I don't know. I don't know.

You know, that's an interesting way of... That wasn't him doing that. That was... Oh, whoever fucking did that. Yeah, it was Steve Burrell's character. I forget his name. But, yeah, Burry was the sort of eccentric stock trader. Yeah, I still... Yeah, Mix.

I see you in the chat saying he's going private. If that's the case, it doesn't mention that here in the Reuters article. And whether he goes private or stays public or shuts down, it doesn't change the most public incorrect calls he's made over the last two years. And I don't know. To me, it seems to me like an advocation a little bit. But I guess we'll find out over the next year or two, what he does. I am interested in hearing him going on podcast.

I want him to go on a podcast like all in where they would give him his flowers. They're also guys who think differently in a lot of ways. And maybe he gets to talk a bit about what he's got going on and what he's thinking about doing next. I would like to hear that. I don't want to hear him on odd lots or any of other shitty financial podcasts. So yeah, there you go. I'd rather hear Lenny Dykesrah. Or Garth Turner.

Garth Turner will in the chat, by the way, had a segment, I think, on a nightly news show. Did he not? I'm pretty sure he did. Maybe. He did. It seems I'm having like a dinner at Nona's fever dream here. Like Garth Turner was on the 6 o'clock news once in a while on CTV, I think. Yeah.

Anyways, let's talk about Blockstream Jade, right? And if you're a user of this device, listen up because this information is for you. You should take note. Blockstream Jade, they have released a firm where 1.0.3.8. It's a security update that just came out very recently. And what this does, it prevents a bad actor who has access. They have to have access to your jade. And that is stopping them from rolling back the firmware to an older version that has known vulnerabilities.

So there are idiots out there, you know, they're even being tricked into clicking shit and following instructions from an attacker. Even if they do that, still with this newest update, they'll prevent them from doing it because the newest release, newest firmware prevents them. just stops them completely from reverting to an earlier version of the firmware. And Blockstream says that all its users, they should only pair Jade with the Blockstream app, a Blockstream service, or a trusted third-party platform. And those are what they need to be safe. So if you're running 1.0.36, you're likely safe, but to be certain, run 1.0.38. And that makes for certain that you're going to be protected against that type of attack that's

rolling back of a previous or an older version of firmware. And they say that only pair Jade with Blockstream app. That's the only way you could do that to update, like I said, and Fresh and Third Party to update your stuff. As for the Jade Plus, also the 1.0.3, it fixes not just a rollback, but it also improves the speed of the camera on the device. So it makes it better for using it in day-to-day purposes. And also the speed of air gap transactions are going to be 30% faster.

all this being said I know not are cheap devices Jade plus not so but the jade are they are they inexpensive really what does the jade cost the jade plus is not I don't recommend either or but if you are using it it's highly recommend you to keep the shit up to date because if they do end up in a hands of a bad actor they could fuck you up now keep note they have to have physical access to the device yeah keep it safe that's another way to keep your fun safe

But yeah, the original jade isn't even for sale on the website anymore, I don't think. So jade plus only now, $200 bucks Canadian or a little shy of $200 bucks Canadian. There you go. Not sure. I love that wallet. I do like the software update, though. This is good, right? What are the things we always hear from the people who say hardware wallets are not secure?

There's one common thread between all those attack commentary. If they get a physical access to it with enough time and effort. Exactly. even in the cold card you have to put a lot of resources to get in but they can break in even an iPhone with enough time and effort if you get anything yeah so I like this I think it's great and people let's face it you know if they have a jade maybe they don't want to upgrade right they just want a device that works and is safe and secure so you know I'm not I'm actually not a huge fan of telling people they need to get a new

device for something that should be done by a software update you know who's bad for that is ledger and treasur. They're bad for that. They add a little bit of a, you know, a little bit of polish on the, on the physical device side. Those new, those new treasurer safes or whatever, the quantum ones, that's a nice looking hardware wallet. But what are you really getting from that that you can't get through a software update? The answer is really not much, depending on how you do the quantum update and whether you think it's required now, some people including Nick Carter writing about how this is a lot closer than people think. I've yet to dig into that, but I should. Anyway, the point is that, you know, they're sort of pushing you to buy a new

device, right? And the old device is not necessarily obsolete. You know, it's a, it's a, the difficult battle that wallet providers have to have to fight with themselves, right? Cold card, same thing. Coin Kite's also having this problem, I would guess. Who's buying a cue to upgrade from an MK4? Is it 30% of people? You know, I have no idea. It's not high is what I would, what I would suggest. And you and I talk about what do we say all the time? How often should you be looking at your Bitcoin wallet or handling your Bitcoin wallet? Your signing device, almost never.

You know, you have something that generates addresses. And unless you're sending, why do you care what kind of hardware wallet you have? You know, as long as it's secure, there's been no, no issues found with it. And there's no obvious way to break the device, sit on it. You don't have to worry about it. And upgrading becomes difficult. you talked about the quantum words the quantum word

yeah the treasurer with the quantum like I don't know I'm I don't want to say the treasure thing whatever but the quantum thing Len well I really

if you have to look at it's a lot closer if you're looking at the sky and Nick Carter is there and it stars rising has it reached a point where quantum is a reality or is it still far from that point is it like kind of just

getting over to horizon and it hasn't reached a fucking I forgot I forgot about the Starry's Rising thing. Did you, you know, maybe I'll do a deep dive on this sometime with someone on the show. But I do want to start thinking about it because I do think that the one thing that in Bitcoin, we realize we can't think about is sort of nonlinear. Anything that's nonlinear humans have a hard time with.

So exponential thinking, exponential growth. I think that compute is really getting into an accelerant period now on this front. and it seems to me that the big players are going to are going to make a move soon on quantum and what I keep hearing is that this is actually not a bad theory again, it's not my theory. I'm not a proponent of the theory necessarily. I just think it's a cool thought experiment.

The government of the United States thinks they're going to get quantum first and to prove it they're going to put the Satoshi coins in the strategic reserve And that's going to be the eye-opening moment for a lot of people. And I think that's a possibility that we see that in the next, I don't know, five years, seven years, something like that. Our esteemed Canadian ministers are going to be meeting in Montreal in the next few days talking about AI and quantum joy. So maybe you should. Evan Sullivan going to be there.

He's talking about quantum. Yes, sir. Yes, sir. He's going to be there. There might be some art over there. I have no idea. but at the very least, I know that they're going to be talking about AI and quantum. So our government is they are on the ball with that stuff.

And they are going to be able to talk about it. How many qubits we got in the Canadian government server hub, whatever you call it? How many qubits are we working with there? Are we running on qubits over there? Are we still running on MS. I get the feeling running on MSs. I think it's still a kilo hash per second. Still a while.

The hard drives are still spinning over there, buddy. got a long way to go. P-Man is saying that with LedgerDick, to go back to the story we talked about, he says that with their firmware updates, if you don't update it, you can't get access to your funds to transfer. How about that? That's if you don't have your keys. As long as you have your keys, your seed phrase, you can do whatever you want.

But if you're relying on. Again, like this is what I'm saying, they force you into this way of thinking. And some people, I'm not saying you think this P-Man, but I think some people, I'm not saying you think this P-Man, but I think some people. look at those updates from ledger and go wow my device is no longer taking software updates i got to get a new one so i won't be able to get my you know shit coin or whatever i think a lot of people do think like that and i it's it's a good marketing play for the low IQ quintile you know ledger let's talk about them you got to love those guys and remember they had uh the limited

edition the hats with a pouch in it where you can start a ledger device in it i i love that yeah wearing that not only would get the shit kicked out of you because let's be honest if you're in public with that you're just asking for an ass kicking but it also shows you have shitty fashion as well and with those people out there that don't have enough fashion wearing this clearly you don't have enough sense or sense depending on how you look at it and you're just asking for anybody to fucking go out there steal your hat your device and increase their bitcoin and shit coin gains and the story of the week is ledger they decided to partner up with a Lamborghini and uh You can't make it up. There is now. I can't believe this is a deal like a new branded Lamborghini Bitcoin wallet. And nothing screams that I haven't been laid this fucking decade by having a ledger wallet that has stood with the Lambo symbol on it. These guys, you are fucking nuts if you're going to buy it. Toss that shit in your ledger hat too.

You got to go the extra mile. We're that ledger hat with a Lamborghini ledger in it and you're automatically going to be entered into the in-cell society's inner walls. they'll fucking usher you in and you're part of the crew over there. Ledger says that the Lamborghini X Ledger stack stacks will hit the road already 2026. Lamborghini X Ledger.

The question is why? I don't know. Each of these signers, they come with their custom packaging with the branded magnet folio. Don't forget that the 1.1 million email addresses were leaked around 272,000 records containing

full names addresses physical address full numbers this is back in june of 2020 clearly they don't have your privacy in mind they have fucked around numerous times withholding on to information they shouldn't be handing it off to other people fuck them i can't believe they're doing this don't do it don't who's worse who's worse for this the Lamborghini people or the ledger people the ledger okay like a Lamborghini this Volkswagen right they're fucking they're dying from any money right So if somebody comes to them with a partnering, they'll fucking do it. If we'd fucking offered them,

they would have partnered up with us, right? All we had to do is just pony up like, what, $1.1 billion? Say, look, we'll give you some money. You can pretend to put a battery plant and then we'll call it a day after a few weeks. You don't have to do anything. They'd fucking do it.

They could be the CBP battery plant, CBPEV. As long as we don't go bankrupt inside a year one. Yeah, we should be okay. I don't have a problem with, like, either company doing this because this is what I expect from these people like what I'm not I'm not surprised I'm not disappointed I'm not it's just what like what else do you expect ledger had the bucket hat bucket hats on their own are annoying but when you add something to dangle your hardware wallet

from on the bucket hat you're entering in like a new stratosphere of annoying they got to dangle that somewhere right they got a fucking I guess I mean that either shlong didn't didn't ledger Didn't Ledger also Was it Ledger or was it another Harborball provider? Didn't they also have a way for you to display NFTs on a necklace? I think it was them.

Oh my fucking I can't even remember. That's so... Yeah. Because I remember the NBA All-Star game one year. Some of the players had like NFTs hanging around their neck. You know, it's just like a light up. It's like an LED, you know, iPad mini. Whatever.

On Twitter, you were able to. Oh, yeah. That was so bad. You couldn't talk about Islamic rape games. But you could have an NFT display picture. That was that was like peak woke retard mode on Twitter. That was the that was the top of the fucking mountain for ADYAC. So here's the question.

Wilhelm is saying, Wilhelm is saying that when OnlyFans ledger. Yeah, good question. I could see something like that. Maybe Ping an OnlyFans model to do something with the, right? Hornstar. Yeah. I don't know.

Maybe. This is the next thing. Nothing is out of the realm of possibility. The Overton window is hundreds of yards wide at this point over at the ledger creative department. Nothing is off the table over there. Can you imagine being at that boardroom table discussing throwing around ideas? You can say anything. You say anything.

Exactly. Nothing is going to be laughed at. Everyone is going to be added to the notes. Okay. Good idea. We'll rank this later on. We'll throw it into chat GPT and see which one is going to do the biggest winner. See what the bot things.

See what the bot things. Oh, fuck. I disappear? No, you're still there. see you? Oh, my computer. Okay, anyways. Are you going to be buying into this 21 capital stuff? What do you think? You mean the visionary Jack Mallors who had all these great ideas about ways to improve Bitcoin and things were going to be crazy? He was going to be the pioneer. And then it turns out, oh, he actually didn't do any of it. He just started a Bitcoin treasury company. Oh, and he did it with Cantor Fitzgerald, the guy who works for the government now. Oh, and he did it with Tether, the world's biggest stable. Like, talk about it. So, yeah, Massa son. Flop. Fucking flop. There's some big names that are huge names yes right and they are going live tomorrow joey tomorrow it's going live on the new york stock exchange not the nasdaq the new york stock exchange 3.6 billion

dollar spasks used to be all the rave because four years ago they stopped in terms of frequency and the ticker is going to be xx i and why on the new york stock exchange it has to be because of their affiliation with Cantor, Fitzgerald and SoftBank, right? Yeah. Because it has to be that. But what is 21 capital? While they want to be,

or they are, they say, capital efficient Bitcoin accumulation company, another treasury company. Yay. Anyways, they have the two metrics they're going to be using

the Bitcoin per share, and that's pretty easy to figure out what the fuck that is. And then the Bitcoin return rate, the BRR, Burr, That's the rate of which the BPS, the Bitcoin's per share grows over time. So that's a derivative of that.

Whatever. At least they're not talking about fucking Tor. Not yet. Not yet. Sailor didn't start talking about Torque until last year. Don't give it time. Bitcoin yield and all that shit. I'm not saying these guys are better or worse.

They're all garbage in my opinion. And these guys, they have a little over 42,000 Bitcoin, 43,000 Bitcoin on a balance shoot already. And I would imagine more to come in a not too distant future. If anybody want to buy another treasury company, you have an opportunity tomorrow. You can get wrecked. I will not be buying this. And I recommend no one put their money in something like this. Like, again, I'm not necessarily against investing in treasury companies.

If you want to do that, do it. But I would suggest to you that the most important thing to consider is whether or not you think they're going to wind up better than MSTR. The likelihood is basically zero. So why keep pretending that like these other companies are going to be as as big a hit as MSTR was? And by the way, what's MSTR down the last six months? 50% more. He's talking about selling his Bitcoin. Now he's going on TV talking about how MNAV is below one. The rational thing is to either trade derivatives or I should say sell derivatives or sell the Bitcoin. Like, you know, he wasn't saying that a few years ago. And If you think Jack Mallor's has the the wherewithal,

the intellectual firepower and the team around them to outgun MSTR, okay. The only thing that really, to me, does sort of lend itself to a bullish thesis, is Lutnik is involved. You know, he's in the government. So. That should be run far from it, too, at the same time. Yeah, I don't know. I'm bullish.

Man, something just doesn't. Ludnik's in the government does that mean that you should buy it maybe I don't know but yeah Pablo I'm going to put this this comment up

such a shame to see the opt-out culture of Bitcoin turned into a buy-my stock narrative everybody's about fiat gains like no one everyone there's still all the people all the people like how do you explain this from Mallors outside of he cares more about fiat gains

he's he's waiting to he's waiting to vest you know like it's it's like it's so obvious all this stuff is going on at all these treasury companies. And again, like I said before, there's a lot of people who I like who are all in on this stuff. But I don't think a lot of this makes it through a very baseline rudimentary level of scrutiny. You have to be better than MSTR if you think you're going to get capital. And so if you become a fourth seller because you're not like MSCR and can't handle a 50% drawdown on the price or 30% or 40% drawdown on the price.

What do your shareholders get out of that? It all boils down to you. Torch. You could either be better than, worse than, or different than. Those are the three options. Yeah. To be different, I don't know how. So they either going to try to be better or worse.

Those are really what they're aiming to be. And I think they're trying to be better. But how do you get better? I don't even know. I don't need to give a shit. This is just more of a talking point. It's just a dollar and know people like these treasury companies. Yeah.

Yeah. Like it's a difficult thing to sell. Is it not? And like who the other thing, Len is who's buying these, like who's buying these stocks? I don't know. But in,

you already had, you already had, it might have been Bailey himself, but somebody on the NACA team saying, we should all just be buying each other's stocks. Yes, you're saying that. You were saying that.

That's where you are right now in the, in the market for these things. So why? Why do you think it's a good idea to put another one on the exchange? Like, what is your differentiator, like you said? I don't know. I don't know. And you know what, my opinion, too, I just want to do one thing I'm going to say.

I don't care. I'm not against these companies buying Bitcoin. I'm not for it. I'm just not going to buy into it. Any company could do what they want within the rules. And it's certainly within the rules to buy Bitcoin. There's nothing saying they can't do it. And if they want to buy and if they want to sell later on to it, all the more power to them.

It's just, I'm not using it as an investment for myself, period. But I'm not against this. I'm just not for it. I'm just indifferent to this stuff. I just don't want people to look at this and think, wow, it's going to be my way to become richer. It might, but maybe it won't. The fuck, like, right?

Look at how much comparatively the price of MSTR has gone down compared to the price of Bitcoin. Yeah. It's, there's a gap there. Now, going up, there was also a gap too. MSTR really up-reformed Bitcoin. But look at also, like Naka, you mentioned, man, it was like a $25 or something.

And now it's like, what, 50 cents? Yeah, it's very low. That's in just like six months or so, give it or take. Like, that was the Bitcoin paper summer. Man, that's fine. People got wrecked if they bought at the top and just holding onto it.

That's too bad. Imagine if they just bought Bitcoin instead. They'd be down. They'd be down 30, 40%. I don't know how much of this is the top. but they'd be a much better position and they'd have total access to their funds wherever they are in a world

and nobody's going to stop them from using it or from sending it to wherever they want. There's no buddy they have to ask. There's no permission they need. Bitcoin is far superior, in my opinion, of what you're getting with any of the other things. But I'm just fucking saying the same thing over and over again. Let's talk about the more degenerated,

the degen stuff because leveraged stuff is what DGents absolutely love. and leverage stuff works great until it doesn't and then when you're liquidated, right? Put it on the T-shirts, baby. Put it on the T-shirts. But in the Fiat world, leverage just means massive losses to your portfolio for using some of these leveraged ETFs.

And the SEC decided that enough is enough and these 5X crypto ETFs, they say, are going to wreck people, 5X. So they decided to block these 5X ETFs, for becoming a reality, Joey. At least they decided to do it now, but who knows, maybe they'll change their minds later on because nothing's for sure.

Direction, pro-shares, and title financial. Those are the three companies. They were told no for now for the filings with the SEC for these 3x, sorry, 5x holdings. Also, after being told as pro-shares decided to close up their previously offered 3x ETFs on Bitcoin and the other digital assets. I don't get what's the SEC's decision. here like i understand what you're trying to do but i mean think about it they're preventing a trader

out there from turning a wendy's wage into a lambo overnight right that's where they're stopping here it's too bad they're doing that but the reality is let's be honest the these leverage gtfs they're terrible right their leverage is terrible period in the fiat world is a piece of shit people are going to get wrecked you know just buy bitcoin be happy with what you have that's that I mean, the world is full. There's billions of no-coiners and pre-cointers out there. I'm not happy with how much Bitcoin I have. And I'm sure everybody's in the same position.

But I'm satisfied knowing that I have more Bitcoin. Just today, what I earned in Bitcoin was more than what all these no-coiners and pre-cointers have. That keeps me happy. And with that, I'm not happy with my total Bitcoin stack, but I'm always happy that I have more today, tomorrow than today. More than just about more of the people out there that have, well, nothing, actually. The question I have for you and for the audience isn't, it's not about whether or not investing in these things is a good idea. Like, I obviously don't, I don't use leverage anywhere. But should they be allowed is a different question.

And I think they should be allowed. So you're on the side of the fence. And I don't really don't care. I just don't want people to use it. Yeah. But you're in the side of the fence. So you want to have somebody that earning Wendy's make potentially that Lambo? Yeah, I think they should be allowed.

Yeah. I think that I think that people should be able to buy the things that they think give them a chance to make money. And I think if you start banning or disallowing stuff like leverage ETFs, while I can still bet on the color of Shador Sanders shoelaces, you know, in the week 15 Browns game, I mean, how can we square these things? one of these is too risky and too degenerate but the other is allowed to be done on your phone without even showing ID you just need like a credit card number Is there any walled fence that they have to cross in order to be allowed to offer

those betting on the color of the shoes or could anybody do it? I mean color the shoes is an exaggeration but you could bet the whatever that you know how many rushing are in the quarter for a Brown's running back like Yeah the ones that administer that Do they have to ask for permission or they could just do it? I think it's I think they're working with the leagues. The leagues, by the way, you know, you don't watch sports, but the, the,

they're not, they're not like the SEC. There's a difference. It's a league as a league. They're just out there for money. It's fine. But, you know, the Securities and Exchange Commission is an arm of the government. And the government says what you can and can't do when it comes to gambling and degenerate behavior. So again, porn, no problem. Gambling on Shador Sanders over or under 75 first quarter yards, no problem. Buying a levered ETF, that's where they draw the line. 50 year mortgage, no problem. Levered ETF, too much.

Isn't the answer that one of these things is a little bit different than the others, right? Like, if you look at the mortgage, it props up a failing system, but they can't have you losing all your money on levered ETS. They'd rather have you losing all your money on the mortgage so that you at least keep housing prices high. Like, does it, anyone thinking about this or more than it? a second realizes what the line is. The line is, are you helping the Ponzi?

Are you not helping the Ponzi? Like, as I mentioned, they could change their mind. They're saying no today, but tomorrow, who knows, depending on which way the political winds are blowing, they could easily change their mind. And if they do, like, whatever, I don't give a fuck. People up there, they're going to use this as they'll try to accelerate their gains. And you know what happens in the end. Bitcoin goes down by $1,000, $2,000 in an instant.

and fuck they just they're just essentially wiped out it sucks it's it sucks that people are put in this position they have no hope with their given employment to make ends meet so they have to find other ways fucking really not just rolling their dice you're like they're rolling a thousand dice trying to get something good and that one guy does it but the other 999000 he got fucking wrecked and we all look at that one guy that did it one in a million oh fuck Yeah. But I mean, Len, that's the one in a million thing. Again, like, I don't think it's a reason to ban the product. It's not. Can you not bet levered everything else on the stock market? You got levered MSTR, levered Ibit, levered everything. So why stop here? Like, that's my question. What is the problem? From what I gather, the 2x is fine. It's anything beyond that they don't want to. Yeah. They don't want to do three, four, five. They had three until recently, but they didn't push years pulled that. They just don't want to do the five. That's for them that, that is, is a bridge too far to cross for yeah like again i just i have a problem with where the bridge is being built i guess more than anything or how the bridge is being built that's my fucking

problem bit main let's talk about them sure they appear to be under investigation by the department of homeland security joey and this is massive because bitmaine is huge in the bitcoin mining game. If you talk about Bitcoin mining, Bitmain is it. I think that's 40% of the market share of mining rigs is belonging to Bitmain. And so the operation was called Operation Red Sunset. Love it. It was trying to determine if Bitmain poses a risk of espionage or sabotage to US critical infrastructure. And there's a thought that these rigs, these S-19, S-21, maybe S-9s, They, that are created by Bitmain, right? They could be manipulated by China as a way to enable surveillance or disrupt the U.S. power grid.

Come on. And there are reports even that devices that were shipped to United States were being seized at U.S. ports. And they're saying there's the potential to have these deployed near strategic locations like military bases and government-linked facilities. And this all followed a Senate Intelligence Committee. Back in July this report came out, by the way. It warned that Bitmain devices present

quote, several disturbing vulnerabilities. And they say it could potentially be controlled all the way from China. Bitmain's out there saying, no, this isn't the case. They are obviously denying any of this. But this might

potentially open a door for stuff like Block's Protro rig. We talked about that, I believe, last week. Those are the modular Bitcoin mining machines. Those are currently being manufactured in Taiwan. And there's thoughts that they want to bring that manufacturing to U.S. soil. If that all plays out the way they're talking out, it's going to be. Bitmain, if they still say, look, this is potentially espionage and shit like that,

that's going to really give a boost for Block's PortoRig. interesting to see how this plays out I agree that it will give a boost to domestic minor manufacturing but the question is is it earned and I don't think that it is I'd be curious to know where this is coming from you know what is the what is the genesis of this claim that Bitmain is through Bitcoin mining rigs going to damage or potentially damage

U.S. energy infrastructure. There is now a growing movement of governments looking at devices that they have that were purchased abroad from China and they're trying to, if it's going to be like Wi-Fi, stuff like

that, they're trying to make an effort to try to have it if at all possible if there's an American or a somebody that's the G7 nation that produces it. They're going to go ahead with those type of things. There seems to be an effort to go anti-China, at least right now.

Anti-China. And that's part of the whole anti-China thing. Yeah, I'm fine with that. But my question is still, what is the mechanism through which these guys think this is possible? Turning on spyware and a Bitcoin. Have they seen a Bitcoin miner? You can't hear shit in there. It's not like if they had microphones.

All here's a fucking fan blowing. That's a good point. And if there's a camera, all you'd see is fucking. just other bitcoin you just see a man named a man with a helmet this is pierre on it holding up a device can't hear what you can see him he's knee deep in one of those uh which which company is he with now which territory company is he uh i forget strike that's the one i don't know i love pier pier pierre will never get it he'll never enter into my bad books ever it'll never happen even a he's always been fiat if he was with bitcoin mining and you know

let's be honest those are fiat so bit main they're no longer on the good side of things there's a five dollar wrench attack that took place this past week and in this case it wasn't Bitcoin that was stolen but there's a Bitcoin tied all this this one happened in Trinidad by the way

and people might be rolling their eyes about the location and yeah I get it but it's still a good learning experience for everybody out there let somebody else pay the price and you get the free education 52 year old dude wanted to buy some Bitcoin off somebody and he wanted to buy off somebody 33 year old

and these guys have been doing business for some time a few years in fact so there was an element of trust that was gained through all these transactions so they met at the parking lot of a pharmacy doesn't seem like a bad place to do it buddy brought cash with him to buy the Bitcoin 13,000 almost 13,000 USD in cash it's a lot of fucking cash

in any country never mind Trinidad after the money was headed over a couple of goons then approached the car with guns and they demanded the money they took cash along with the cell phones you were stolen from both of the guys so i'm not sure if the 33 year guy was in on it because he was had his shit stolen either way um pure to peer exchanges look they have to be careful when you're making and dealing cash right yes sir so it's not like they could you know they could do anything well actually maybe you know the guy got the 13000 right is stolen so like but he still had his bitcoin right unless somehow the thieves got access

to the phone were able to get access to the wallet move it out but if not the only guy that lost out here was a 52 year old that lost 13k right so maybe they could call the CEO Bitcoin and he could create 13,000 worth of Bitcoin and give it to him and everybody's happy but this just goes to show you like when you're doing an exchange in cash you got to be very careful look at your surroundings do it in the area that you're not going to get much and be very careful and the thing is once you have the Bitcoin in

its exchange and it's been broadcast then you're okay but until then it's dicey I know people you know this is the kind of shit that happens when they put guardrails and make it harder to use exchanges agreed great point

great point and I hope we don't find more of these but people out there learn from this guy's mistake I feel bad for him but it happened isn't the other problem too that When you agree to sell or buy Bitcoin, sell especially Bitcoin for cash, what does the person know about you right away? They know that you're going to be accessing your stack in the next,

you know, between the time you agree to sell the Bitcoin and the time you go to give the Bitcoin for cash. Like you're vulnerable there. Then you're vulnerable on the drive from your house to the place. Then you're vulnerable at the place. Then you're vulnerable from the place back home. Like, like, there's, there's so many gaps in OPSEC here that you should never be doing this, number one. Number two, here in Canada, I don't know what it's like in the States for the Americans who listen to the show or the number of people around the world. They just listened to our Spotify rap thing the other day, hilarious where all these people are listening from. The question I have, you know, for people in Canada is where do you go to sell stuff or

buy stuff on like Kijiji or Marketplace? For me, I go to the police station. there's a police station not far from me Fire Hall not far from me like I've said before because they have like open areas where you can go and buy or sell stuff to people. They want you to go and do it in there but in Trinidad somehow I doubt that they have that same offering

so I don't know where do you go to buy and sell stuff? You're a marketplace guy aren't you? I haven't done much in a while but you're 100% right there is a police station in Burlington and they have a parking lot there where they encourage they have signs there do your exchanges here so they're encouraging people to do like if you're spying or selling tires for instance do it there because you're

literally a yellow way from the police you see them driving in and out they're walking to their cars there's windows to the station so if something happens they'll come out you hope to protect you so that's so that that's where i would do it like and i totally agree with you 100% do it like a bought like a police station. I like the one in Burlington because it's specifically designed it looks like made for that type of a transaction. They encourage you to do it

because if there's one less person that gets robbed, that's one less thing they got to deal with. Would you ever sell or buy Bitcoin for cash? Potentially. Even there. I wouldn't do it. Potentially, yeah.

I'm not going to say yes or no, but it's just too many, too many questions. I wouldn't do it. Sure. Yeah. Let's do one last story. And got to love Binance in their initiative here to lure young DGens into the space because, I can't believe this fucking shit is real, by the way.

Finance Jr. It's a parent-controlled app and it's a sub-account for kids and teens. It was just recently launched. And in the promotional video, it talks about a crypto account for your child, where parents can send Bitcoin and shitcoins to kids and the parents can send limits on how this is, being used. Essentially, it's a sub-account of a main account, and essentially, you know, if you look at it, it's a.k.a. another account that could get banned in the future.

And they say the child could get API payments, payouts in from Binance earned. They could learn about like, she like, God, that's so brutal. So brutal. Young users aged between six and 17 to get on board and

start using this. Six years old. Could you imagine? like that's what are the only things you're like if you're six years old and living in like is this an american product that's a good question i don't know where it's being offered which countries so what can you do if you're six you can you can't vote but you can go on bynance or you can get a sex change but you can't vote you can do any of those other things so hey i there was an FAQ and i think it did say where it's located i'd be shocked if it was available in the united

States or Canada. It doesn't really fucking matter. Like, it just, yeah. So, it's just fucking bullshit that they're doing this. And Joey, you have a young one. Yeah. She turns six. Are you going to set up to finance? There's never going to be Binance Jr. on any of the screens

in this house. Okay, let's see. Age 14 plus, it doesn't say, it just says where it's available by certain age, like 14 plus, 15 plus and 16 plus. And the United States isn't listed in any them but they say it starts at age six so yeah wonder if it's available in canada god i hope not i hope not probably not isn't it banned here i thought finance is banned here band everywhere you know yeah

i think ontario kicked them on and as a result every other province right exactly exactly yeah all right that's it for the bitcoin side of things sure uh okay if you're on audio come back tomorrow if you're on video live with us uh stay here we're not going anywhere we'll see you on the other side take care yourselves and don't download bitcoin junior what the fuck you're doing if you are doing that