The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Canadians WARNED of MONSTER Grocery Price Increase | The CBP 217 Pt 1

Episode Date: June 3, 2025

FRIENDS AND ENEMIESCanadians are being warned of an imminent monster grocery price increase, and it's not just about the cost of living. The CBP has sounded the alarm, and it's time to take a closer look at the factors driving this inflation. From immigration policies to tariffs imposed by Trump, the ripple effects are being felt in communities across Canada, from Toronto to Brampton. Rising interest rates and the impact of bitcoin conferences may seem unrelated, but they're all part of the complex web of economic indicators. As community safety becomes a growing concern, with rising crime rates in Toronto and Brampton, it's essential to understand the broader implications of these trends. Join us as we delve into the world of Canada news, exploring the intersection of politics, economy, and community issues, and what it means for your grocery shopping experience. The warning signs are clear - are you prepared for the monster grocery price increase?#bitcoin #btc #carney #trump #tariffs #inflation #immigration #crime #canadianpoliticsJoin 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.

treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF. Can't be exposed to that. That's my view. It's not a good idea. And by the way, that'll hit MSTR too. It'll probably get other stuff as well. Friends and enemies, welcome back Canadian Bitcoiners podcast. Friends and enemies, welcome to the CBP. Want to be better informed, listen to Len and Joey, spots are taken care of right off the top, oh Bitcoin and easy DNS, the media is feeding the slop, it doesn't matter what topic's discussed,

quality entertainment and information you can trust. That's being planned or at least discussed, you know, we're not gonna allow for the buyers of the blockchain. And information you can trust, send the guys some value, boost them with some stats, Bitcoin is a scarcity asset, I mean it's just a fact, Friends and enemies, welcome back.

The mighty CBP, Monday night, the flagship. Thanks for being with us as always. My name is Joey. That's Len. Buddy, what is going on over there? How the heck are you? I'm good. If you notice behind me to my left. Oh, I Have now the block clock back in working order

So I did a little bit of digging in what happened So it was just something to do it was not connecting to the 2.4 gigahertz So what is 2.5 gigahertz whatever it was? Yeah Yeah and it was really so I had to do some rebooting of the router and forcefully having this connected to the right band on my router and then turn off. Here we are. It was down for a week or so. Hey, the price gone up a little bit.

What the heck's going on? I don't know what the heck. Anyways, how are things? Great. What the heck? It was like 104 a second ago. Where do we go to 105? We're pumping. Yeah. I'm just, you know, enjoying life here. What else can you say really about what's going on? I mean, this is going to be a bleak back half of the show. It's going to be the front half too. It's going to be, I think it's going to be an angry front half too.

It's just, I'm not sure about you, but there's a lot of anger just circulating in the Bitcoin community Yeah, is that you okay? Just well distrust and people are upset and Disappointed and you had a lot of people that they were at a conference. They were shilling garbage and How could you like say this has been a wonderful week? It has not been. It has not been. Even the weather has been absolutely fucking trash. Great today.

The weather's great today. Fuck, it's now June. Thank you. Right, six months from now, we're gonna be in Christmastime. Let's do the sponsors. EZDNS, the best place for you to host your content. Mark is your friendly neighborhood registrar. I mean, what does it say about. EasyDNS, the best place for you to host your content. Mark is your friendly neighborhood registrar. I mean, what does it say about EasyDNS?

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want people getting spoofed on, you need these services. These are, these are like non-negotiable now, this day and age. They seem to be something that people are not buying if they're not using EZDNS because we still have this every week breakdown of the data breaches on the Axis of Easy show. But you don't have to be a victim like they are. You don't have to be a victim. You can take control of your online destiny with EZDNS and you ought to. You ought to go to ez a victim. You can take control of your online destiny with easy DNS and you ought to You ought to go to easy DNS calm use our promo code CBP media and get 50% off your first round of buys You can't beat that. I say this every week, but a lot of guys have promo codes for stuff

It's like 10% 5% like what's the coin kite one? God bless MBK, but the coin kite promo code is like it's like fucking a dime It's a dime off your life. Yeah, it's like fucking a dime. It's a dime off your cold. Five to 10. Yeah, it's like, it's like nothing. Mark is giving you 50%, 50%. So go take care of that. I know a couple of you guys in the chat are thinking about starting podcasts. This is a good place to get a website. Don't wait, act now.

Cause you'd be surprised how many people are squatting on domains that you thought for sure would be available. They are not. It's a growing business model, a growing passive revenue stream, passive income stream, squatting on domains. So it still is. And funny enough is that because it's a 50% off the initial purchase, it's advisable. Of course, this is my opinion. Probably yours too, Joey is fucking load up. Load up. You don't go with a half empty shopping cart you have that thing just

overflowing is you're gonna get 50 off no no no that makes all you're not you're not you're not going in with just the tip i'll tell you that who's nice bull bitcoin buddy bull bitcoin look like i was saying earlier the price of bitcoin went up somehow i don't know what happened but either way good time to buy good time to sell you could do that with bull using lightning on chain fees. I just checked today, super fucking low. So on chain is still the thing to do, but still you have other options like lightning and maybe you wanna consolidate your transactions.

That's topic for another time. And what you could do with your Bitcoin from bull Bitcoin, not simply just buy or sell Bitcoin. You could pay some bills for instance, if you could pick your bill or you wanna pay and use your Bitcoin to send them and pay, credit card, car payment, whatever. You can also send money.

This is a really cool thing, Joey, where you could just do a email money transfer or just send it to your bank account. Bank account, a lot of other exchanges do that, but money transfer, you can money transfer fiat indirectly, send it, started from Bitcoin, but goes into fiat, transfer. That's fucking very cool That's why I pay with my golf these days is e-transfer

So I may just start trying to send it through through bull bitcoins. I love it, you know Yeah it's a lot of different options check them out if you use our code below and You open up an account and you can do that not just in Canada, Mexico, Costa Rica and Europe But fuck it's growing, man. Let's see where else is going to go next. Maybe United States, maybe not. We'll see.

So 0.25% will be taken off your buy. No, it's 25% off all the fees. So if you hit, it's huge. It's 25%. Yeah. It's like a monster number. You can't beat that either. Like there's no other service who's saying knocking 25% off your fees, buys and sells

if you sign up for a bowl with our problem. That is unbeatable. That is unbeatable. You need to be on that. Agreed. Yeah. Let's do some booths. Brand new website. It looks really nice. Looks really fancy. And it does. Yeah. But before we go anything, let's just do quickly the, because we have a interview coming up this week. Yeah, Mike Hobart is going to come on the show. He's him and I have been friends on Twitter for like, it feels like years now. But he's never been on as far as I can tell. I didn't ask him today because he was busy and I was busy when we sorted it out.

But I don't think he's ever appeared. He just wrote a book called The Second Renaissance. I ordered it today. It'll be here tomorrow. I'm going to try and blast through as much as I can so we can talk about that. He also said on Twitter today, he's a new father, which might come up in conversation. And Mike's a guy who's a good Bitcoiner. He's a veteran, talks in the Bitcoin veterans spaces you might hear sometimes. I think they have a matching podcast as well. And yeah, as Boomer's saying in the chat, he can, he can, he can squat to 25, which is, which is huge.

You need to be able to hit your 225 if you want to be a Bitcoiner. And pretty soon it'll be a requirement to be on this program as well. So yeah, I'm looking forward to that. Also today traded shots with Joe Consorti, who's got a new product that's coming to Canada soon. Loans against your home for Bitcoin equity. It's very interesting. Looking forward to talking with him about that. I said on Twitter that I am cautious and I view that at first glance as rather unwise. But Joe is a guy I've listened to for a long time. He was one of the earlier sort of, you

know, Bitcoin guys talking about the run up to 100k with... God, I can't remember the guy he was doing the Bitcoin way with, but anyway, there's a lot to talk about in that space, this idea of using your capital to roll into favorable Bitcoin loans. I don't know. We'll see. Also, Joe Easy, to 25 minutes. He's got a great physique. That guy, I think he competed at some point if he, if he doesn't

now, but yeah, looking forward to talking to him as well. And then last week we had, oh my God, my memory is like drained. Who did I talk to last week? Land help me out. I'm at the same thing. Who did you talk to? This boomer. That's right. It was. I was kidding. Boomer and I had a great conversation about the MSDR slash explosion in Bitcoin Treasuries and got a lot of good feedback on that.

It's funny. A couple of guys, Boomer I know who are terminal users, messaged me and said that they thought we had some things right, some things wrong. And that Nat Brunel slander was uncalled for, blah, blah, blah. So yeah, it was good, good discussion. I hope you guys enjoy that. Check that out. We always appreciate Boomer coming on. He's welcome anytime. Of course. Yeah. Okay. So, and me and Len were just talking about maybe taking the summer off of interviews in July and August. So TBD, because it's hard to get, it's hard to get guests and I'm pretty busy and Len is pretty busy and yeah, we'll

see there will be, there will be interviews, but they may not be on a regular schedule. Yeah. Yeah. Yeah. Yeah. Like they were. So boosts white dog 3,200 sats doesn't give him no just sends in the sats. I appreciate that god bless you white dog. Thank you God's death or God's deeds 237 stats. Thank you gentlemen. You're welcome wartime 333 sats and he just has a some dynamite So why don't we just pre-record the boost session and a section and just replay it every week? It's the same.

No, no, there's more. Moe BTC Dick 500 Sats. For those wanting to purchase assets like a home, MSTR and other equities are a great way to secure returns and not have to worry about selling real BTC and going through that emotional process. Thoughts? It's all fiat games and eventually you're gonna have to, you're gonna have to cash out eventually and buy a Bitcoin.

And how are you gonna do that at a later time when they may put up roadblocks to buying Bitcoin? And it's not gonna be easy to buy, you know, 500,000. Nobody's talking about the house. Like if you go out and lock in outside of Bitcoin to buy a house, but you want to be tied to the Bitcoin, then maybe that's the way. You got to live somewhere.

You can't live in your Bitcoin. I've said this a few times. And for anybody that wants to purchase a home, all the more power to you. I think MSCR is a decent way to do it, Mobitc, to kind of get at your comment. I think it's a decent way. I love the LARPing from the rent cells who are fucking talking about how owning a house is fiat and Bitcoin is going to outperform. It's just so dumb. It's just so dumb. For all these people. Yeah. But you know what? It's like you said, right? You need a place to live and stability comes at a cost. Okay. You could say, oh, the government might take your house. They might raise your taxes. Yeah. But your landlord,

you know, might fucking leave your toilet broken for two weeks. They don't like this. There's a different level to freedom and stability that you get when you own a home than when you rent. This is undeniable. And so for the month a for the month a month sells like save me the fucking sob story. Just I never read this. I don't know what it's like to live. I lived in a rental when I was a student obviously for like three years and there's good and bad. Like it's a different sort of time in your life. And so you don't consider many things difficult. You consider them funny or whatever. And you know, fucking you'd have a hard time convincing me to rent now. I'll tell you that. It'd be very difficult to get me to jump ship.

Funny about an hour ago chatting with my lovely wife in the porch and we're talking with the great Exodus from Canada and you're probably going to rent when we get the hell out of here. And we're not going to, we're not going to buy. Because you want to be agile when you land in a different locale. Yeah. Exactly. And yeah, that's the story. I want to go from place to place. Yeah yeah that's a different story. That's a different story. It's not a one size fit all approach and you got to take into context what's what's a play and last but not least we have Business Cat. Don't want to leave Business Cat out for 10 000 sats he submits. This is for you Joey. He said smoke alarm repair funds.

stats he submits this is for you Joey he said smoke alarm repair funds 10,000 cents my wife my wife is a six-footer she did she denies it she says he's 511 she's probably like 6 1 and we were talking about the smoke alarm thing today actually because my mother-in-law watches my daughter while I do the show and my wife is a pottery and so know, we were joking about how if something happens while we're gone, while she's gone, me and my mother-in-law are both going to need to pull up a chair to, to be able to get to that smoke alarm. Can't just grab it off, off our flat feet. We should, we should shout out lens appearance on your life, your terms. You never even told me you were, I just, it Ninja launched on my podcast

app the other day. I do things quietly these days. You move inside, real G's move in silence like lasagna. Yeah. And I want to go back, can't you just do the Michael Jordan and float on air? And as you're just, you know, then you could take the, change the alarm,

change the battery, put it back up. Jump in and catch a football or get a rebound. Different story than trying to hold. Cause apparently I didn't know this, but it doesn't make a lot of sense to me either. When you reset a smoke alarm, like when the alarm is going off, it's a false alarm, right? You know you have to hold that button to reset it,

not just press it. What is that? Why would you ever, like that thing is fucking loud. If anything, you'd want that button to be like one press and it stops. Not hold stop. It's probably a safety feature, so that way you don't turn it off in case there's a real fire. To actually turn it off, you have to, you know, it's a pain in the ass, but it makes sense to do it like that.

So it's probably for legal reasons. Makes sense. I don't know. Yeah. Get the chair or the ladder or do the Jordan jump. Thanks to Business Cat for that, uh, that contribution. The fire alarm is still working. I just had to take it out for that sort of brief second there, rip the battery out and rip the cover off. and jump. if you kind of like, you know what I mean? Like it's almost like you're the guy that's holding that no jobs without. It's funny the way it's set up. We'll be talking about that I think.

We sure will. Actually talking about something I said earlier in the chat. Yeah, I've had two cold brews. I actually just had another six ounce coffee a second ago. I'm getting up earlier and earlier to try and get my workouts in. I'm on the road to a 315 pound bench press that's going to by November. That's the plan. Three wheels. So there we go. Anyway, yeah. Let's I mean where do you want to start? We got lots of options. Conference obviously we got our favorite mayor, our favorite mayor issuing Bitcoin bonds. Yeah I mean where do you want to start? We can start anywhere. Do you want to talk about the conference? I have zero say about that conference.

I'll be honest, the amount of time I sunk into watching anything, it equals to exactly zero seconds. Wow. I didn't give it. I didn't follow anything. Everything I got was after the fact about announcements. I have no idea who was on stage aside from the people that the announcements came out about. Yeah. And maybe there's, sorry, one person in our chat was in the doing a was on one of the sections. Tuan did a short talk, right? So other than that, shout to him and yeah, great, great shit. I just don't even, I don't care. This thing doesn't

excite me at all. Like it just, I'm going to watch a few of the speeches like Lynn Alden. I like to watch Seyfadeen. I like to watch Seyfadeen talked about Tether, which is aen I like to watch, Seyfa Dean I like to watch, Seyfa Dean talked about Tether, which is a talk I want to watch. I will probably also watch against my better judgment, the Mallers keynote and I don't know. I mean, Saylor obviously took a beating over his comments about self custody. We talked about that already, I think. So yeah. How can he still say to this day like it's your money. Yeah. Right. When you invest in his company you're giving him your and he's basically giving it to somebody else. So I don't know. Really. Yeah. Whatever. I just want to know John in the chat saying that Arthur Hayes spoke as well. I watched Arthur's talk at

the gym. Arthur Hayes is a white whale for me on this show. I would love to talk to Arthur Hayes on this show about all sorts of things He's he's a guy who just fucking gets it all around and is not afraid to tell you exactly what he thinks I like that about him quite a bit Jack Dorsey was pretty active at the conference this past weekend And yeah, there's two is your keys lose your keys on this fucking bit key sign big key right like what a fucking piece of shit this signing device really is i can't believe that right this thing it was touting itself to be uh something you know secure and it's a self custody bitcoin they're saying bitcoin wallet with an app hardware and recovery tools it's block is the team that's behind this.

Actually, it's the proto team working up block if you wanna be very specific or whatever. And so this week they released the new feature that Seedless feature, holy fuck, what the fuck is Seedless? I'm still amazed that they're saying that this is something that's much more secure. Before we have to go into,

we have to discuss what is BitKey because people may not understand what the fuck BitKey is. Like it is a device, you know, but yay big, like maybe a CD size or a video game sized. It's like mini disc size, I would say, if you remember. Okay. Yeah. Something like that. Okay. It looks like that anyway.

I've not seen one in person, but that's the feeling. The same. Yeah. I just saw people take them apart and so forth. And there's no screen on the device. It's just basically it. Right. And so the only way to make functionality, make this function in any way, shape, or form is you got to have an app to communicate with it. You have to use the native app to do so the native big key app and right away, that's a red flag, right? Like it's going be stuff that you have to use your phone. Keep shit off the phone. That's what I would say.

But okay, onto the seed listing. What the fuck is it? They say it's a safer way according to Bickey to store your Bitcoin. I would argue it's a pile of fucking shit. It's so disappointing to hear this from Dorsey of all people. Yes, 100%.

And they wanna make it easier for you to manage your Bitcoin because losing your keys is a scary thing. And nobody should be trusted with anything that holding onto your Bitcoin, right? Like just give it to somebody else like Bickey to take. Fuck off, man. So they're saying the 12 or 24 words, it's basically it's going to be replaced with a two of three multi SIG setup where keys are kept in three places. One is yours. One is blocks and one is the government's. One is protected by the hardware key and that's accessed through biometric fingerprint on a physical device. Perfect. That's good. Yeah. Great. Does that work when you're sleeping or dead?

Pretty sure it does. So that's one problem. Yeah. Keep going. The second is mobile stored in the smartphone app. When you're sleeping or dead, pretty sure it does. So that's one problem. Yeah. Keep going. The second is mobile stored in the smartphone app. Perfect. Perfect. That's not easy to grab. Yeah. The third is the server managed by block.

Sorry. How does your phone unlock most of the time these days? Remind me. It's either going to be a face or it's biometrics. Yeah. It's biometrics. So you can get two birds in one stone there right after you get drenched. The third one is a managed server managed by block. So if you lose one of the first two being

the actual device or the app. Okay. Honest question there. Okay. How many of those, how many of those signatures do you control? None. The answer is none. The answer is none. Your fingerprint is always available. Your face is always available. Your phone is always available if you have those things. You control none of those keys, not a single one. And that's the problem here, that these guys are talking about this is three different signatures you need, blah, blah, blah. But no, that's not in your control. None of those are in your control. You're trusting that hardware, you're trusting your phone, biometrics

are not safe, they're not secure, and Block has the other one. These are not good options. None of those are good options. And I am so pissed that guys like Marty and Matt at TFTC are pumping this thing and doing giveaways for it. What the fuck is going on out there, man? Joy, I'll be honest. If somebody happens to give one to us and I will be very frank here, I'm going to and I'll film it. I'm going to fucking burn it. I have a torch.

I'll be happy to take to it. Is it it will be a waste of money if anybody wants to send it. I would recommend not. But if you want to, I promise you I will fucking torch the thing. It's so hard for me to understand this. Because I don't want to use it. Jack is a guy who should know better, I think. And I've been in this argument with people before about BitKey and just the broader debate

discussion about designing Bitcoin for Maxis or designing Bitcoin for Normies. And I think that this is a false dichotomy, Normie versus Maxi. I think there is designing Bitcoin for people who want to hold their keys and designing Bitcoin for people who don't. And like, Bitkey doesn't serve either community well

in that regard, right? The people who don't want to hold their keys are not going to buy a Bickey anyway. They're going to buy the ETF. They're going to use, you know, Casa or whatever else, right? One of these companies, which by the way, like Casa, Unchained, like basically any of these jurisdictionally differentiated human entities that secure keys in multi-sig vaults are better than what Bickey is offering. Okay. So that's issue number one. These are not ideal solutions either, but they are certainly better than what's being offered by Bickey.

That's the problem. Then on the side of people who want to hold their keys, no one who understands the value of holding their keys is gonna use these devices. They're gonna use cold cards, they're gonna drum up their own private key system. There's all sorts of methods to that madness. And as I've said before a million times, you owe it to yourself once you get to that level to be, what's the best way to put this,

to have a secure setup that doesn't require your attention, doesn't require your bandwidth, and just is something that is already done and is never to be worried about again until you want to spend, right? And Bickey doesn't serve either side of that argument at all. This is the thing I don't get. And I actually suspect, Len, that Bickeys are not selling very well, given the number of giveaways, the amount of press they're trying to get, nonsense like lose your keys on their booth

at the conference. I just don't see it. I don't see these guys gaining a lot of traction. There's just too many better options. If you were going to go get a Bickey for ease of use, why not just get a Ledger and use Ledger Recover? It's on the same level. Exactly. And I think, and I think it's probably, and it's probably a better, like ledgers are better devices. Like that stacks ledger stacks or whatever. Is it secure? I don't know.

Does it do shit coins? Yeah. But at least it's got a fucking screen on it. You know, like if you're going to go through all this trouble, why not just get something with a screen, anything, get a, get a keystone, a jade, get a ledger, get a whatever. Why would you ever go with Hibiki if you were that concerned about ease of use and convenience? You never would. They're not the top of the list of convenience. They're not the top of the funnel of convenience. They're not the top of the list of security. They're not the

top of the list of privacy. They're not the top of the list of anything. So why would you ever use them? It's a shitty product. It is a shitty product. There's no doubt about this. Let's go through the list at the CBP tier list of the worst to best way to secure worst to best. Okay. Worst to best. I'm going to give you a few things.

And the first one is not even Bitcoin, but it's the normie way to get exposure to Bitcoin and Bitcoin ETF. Okay. I'm throwing that out there. Leaving your Bitcoin in exchanges. Yeah. All right. Okay. Big key seedless as we just discussed that offline signing device like cold card where you properly generate your fees offline. S tier, S tier. Your own lightning node and a phone hot wallet. Those are the six. Bitcoin ETF, keys on exchange or leaving Bitcoin exchange, bitkey, seedless,

cold card, lightning node, hot wallet. It's cold card. It's the best. Yeah. And then it's everything else. I mean, there's only... No, no. Your own lightning node, I will say is very, very close because you manage your keys.

In terms of what? Like privacy and security or ease of use or what? Like this is the like the cold card with Sparrow is easy to use. It's no longer it's past intimidation. I think leaving your keys your Bitcoin and exchange is the easiest to use. But it's not going to be my S class in terms. It's going to be pretty damn bucking low. So in terms of like what is best for the end user cold card certainly and you know what?

Your own lightning note it is very damn close because you control everything sure and it's all yours full and hot wallet I will say is No, I'm with I'm with buddy. The ETF is third probably honestly like You don't own anything. You just you just own a fiat Representative of that. But at least you can't get wrenched. At least you can't, at least you can't get socially engineered. At least you can't like, you know. You get fucked up the ass fiat style. You may not get wrenched.

I don't know. I just think, I think it's, that's, that's way further out on the curve than some of the stuff we're talking about. Oh my, it's not even Bitcoin, my friend. I know, but it's way, it's way further on the curve than the stuff we're talking about. Oh my, it's not even Bitcoin, my friend. I know, but it's way, it's way further on the curve than the stuff we're talking about. Way further. Well, so the Bitcoin ETF, it's like the absolute trash of the trash. Leaving on the exchange. Personally, your commitment to ETF hate is admirable and, and needs to be studied. It will be studied by historians. I think all roads lead to Len. Um, leaving your keys on the exchange I will say is the equivalent as using one of these bit key seed listings Okay, I can't could differentiate the two it seems like they're fucking same to me. Yeah, I'm with you. I'm with you

I so we talk about how bad leaving your Bitcoin on the exchange is and if we can't separate Big key from that How bad is it? It's fucking terrible. It's bad. Yeah, I agree. I agree. The chat has some comments about this. I won't read them all, but yeah, I mean, I, where do you come down on stuff like unchained capital, right? Like unchained is headed up by, I think Parker Lewis is the guy behind that operation. Unchained is headed up by, I think Parker Lewis is the guy behind that operation. And people, they want to have that little bit of comfort by having a multi-sig. And in case they lose it, they could go to somebody.

I'm not, I prefer pass phrases. I think that's a better way to do it. Pass phrases are great. Everyone should be using at minimum the 12 plus a pass phrase. I think that's the minimum level of security. And we had a question in the chat on Discord, I think a little while ago about whether or not the passphrase has to be from the BIP 8737137. Yeah, I answered that question.

The word list. It does not. You can make it whatever you want. Symbols, letters, numbers, whatever. Caps, lowercase, like anything you want that you can remember that's what you should be using and I can't I can't really tell you how important that is apart from just saying that it should be the minimum requirement like every wallet provider should be telling you that you need a passphrase I think that's it's so critical man so critical well yeah and time lock I think is probably the best way of doing things especially if you have a long-term, just deal with that. More difficult to implement, but it's doable. Liana is not too bad to use.

So yeah, maybe I'll do a little video on showing you how it's done. And then if you do that, you can't touch your Bitcoin until truly locked. Yeah, truly. Yeah. A time criteria has to be met. It's in blocks, right? It's the everything is measured in blocks for the time limit. So you better fucking hope the mining doesn't somehow collapse There's an upward edit that word maximum adjustment and if somehow it just absolute tanks

There could be a manual adjustment that could be done They just absolute tanks. There could be a manual adjustment that could be done the way I understand it. So that way in case there's a nuclear war, for instance, and there's just one miner out there that's solar powered that is just hashing away at kilo hashes. Yeah, they could adjust the network to figure this out. Square will keep on the whole block thing because square terminals are now going to be enabling. Just when I thought I was done, they pull me back in.

Do you have any affiliation with... Do you do anything with Square or no? I have Square in my portfolio. I DCA into Square Block. Oh, do you? Okay. XYZ. Yeah. I think they're a good company, broadly speaking. I think the terminals are like underused. I worry that they're having their lunch eaten by Shopify and Toby. I think Toby's a top five CEO on the planet and has proven himself to be pretty shrewd when he needs to be. Plus he's you know Canadian which I like. Anyway, story from another time but the terminals love

this. My only question is what the fuck took five years to do that? Like you're five years late. Why would you wait this long to do this? You know, they're still waiting because it's going to be rolled out next year Yeah, sorry later this year. Yeah, the 25 25. Yeah the second half of 2025 So it's for people that are wondering what the fuck we're talking about is This showed off at the bitcoin conference that you're able to pay using the square terminals And they could use lightning it shows you a qr code you scan that And it just solidifies the fact that Bitcoin is a medium of exchange

regardless of what people like Michael Siller would have you believe. So with respect to this is that second half of 2025 is the rollout that's gonna be done for merchants and total everybody having access will be sometime in 2026. And so there's gonna be some time that's gonna be done before everybody has access will be sometime in 2026 and so there's going to be some time that's going to be done before everybody has access to this. I took a look the settlement is instant

when you use lightning. Yeah. Which is really cool as I checked google I don't know if this is true or not but when you use visa with those square terminals it typically takes one to two business days for a settlement to take place with using Visa. Yeah, that's pretty standard. Yeah. Also, you could do instant transfers, but there's a fee available for that. So you could bump up yourself in a queue, essentially like using, you know, it's like

Bitcoin, increase your transaction fee, get in the next block. I'm looking at this, it shows off what can be done with lightning like instant settlement, cheaper, it's available for a lot of people. Is it gonna be used by it? No. Let's be honest. No. Nobody's gonna probably use this. That's it's reality. Nobody's using Bitcoin as a medium exchange. We should. But this isn't the first foray that block has got into with using or having Bitcoin. They also allow a Bitcoin conversion feature. They rolled this out in 2024.

It was allowing merchants to automatically convert a portion of their daily sales into Bitcoin. Probably nobody uses that as well, but they're at least offering these suite of products that are related to Bitcoin. Cool. Yeah. Let's see how many people use it moving forward. I have doubts that at least in the near future will be used.

The people like the thing that I don't like about this is that it's just late and it still requires specialized hardware. Like I just went to the Shopify website because I want to pull this up. I won't bother putting it on the screen, but I wanted to make sure I didn't see this in a fever dream. Shopify has something called Tap to Pay on their POS. So if you have a Shopify store, you can just download their app and take payments on your phone. Tap to pay. So like you would tap your phone to pay for something at the store, people can tap their phone on your phone and make a payment. Gift card, credit card, debit card, whatever they have on their Apple Wallet or Google Pay. Simple. And meanwhile, block, you know, square, I should say, no block,

still puts you into this chamber where you have to have their hardware, you probably pay a significant fee for that hardware if you're renting it. Plus you pay, I'm sure, like a provider fee for the block service and all this stuff. I just don't see it. And then now Bitcoin on Lightning is fine, but if you're a vendor taking Bitcoin Lightning land, I hate to say it, but the tax implications of that are significant. Like you're talking about- It's for the person selling, not for the person accepting it. Yeah, yeah, yeah. For sure. For sure. It is still for the people accepting it. Like there's still, there are, no, there are still implications because if you accept Bitcoin

for your service or good, then you have to pay taxes and to pay taxes, what do you have to do with the Bitcoin? Well it presumably you would sell it, but it's not a guarantee. No, but I'm saying, so accepting it doesn't mean it's an automatic sell. No, it's not an automatic sell. When you pay your tax bill, you're going to have to sell some of it and you have to pay capital gains on the sales to make your tax bill. Like these are you.

If you just accept it. Sure. Why not? I'm assuming you do. Of course. Why would you not? The way I assume that it's done is if you accept Bitcoin, say you're the merchant and I'm the so I come, I give you some, I buy something with Bitcoin lightning you take my Bitcoin

You just have the bitcoin until you sell that bitcoin until you sorry until you you move that bitcoin to something else Yeah, then at that point it's going to be a taxable event But until then it's it's just you collected revenue Yeah, and so that revenue if you have to pay taxes on that because obviously you would have to then you have to sell But it could come from the other liquidity that you have. You think you just take it from the cash, but I mean, you have to pay the taxes out of the cash you receive. I get what you're saying.

A higher amount. I mean, I'm just hypothetically, it's not a guaranteed sale. Probably it is a sell, but it's not a forest. I have a lot. I continue to have a lot of questions about Bitcoin as a everyday medium of exchange. There are going to be other options for this. I think the most obvious one looks something like you have Bitcoin in a wallet that you're willing to give up custody of in order to spend fiat against it day to day, month to

month, whatever. And that's the vehicle that ends up being used most frequently by Bitcoiners. I can't imagine people are going to be willing to pay taxes on this stuff. Because again, if it becomes so popular, like if it becomes ubiquitous with payments, sometime down the line, you know, who knows what will or not, then some of these services will, will start to just take shape anyways. And, you know, let's face it, this is not that new. If you look at your bank account, and you want to go to the store and spend money off your house, it's what, like two clicks, right? You see your HELOC in your banking app, you transfer the money to your debit card and

off you go. So I don't see why you wouldn't be able to do something similar with a Bitcoin stack once the banks start getting involved in this, because they're really the hub for Fiat and Fiat loans make sense if that's how you want to use your Bitcoin day to day. It doesn't make a lot of sense to spend the Bitcoin, sell it and pay taxes on the gains and whatever. I know what you're saying about the cash liquidity, the USD liquidity from other purchases. I think that's a good point, but who knows how this is going to turn out. I just think that we're getting there. Boomer in the chat saying there's going to be tax exemption for de minimis. I was sales. I don't know.

I don't know. I wasn't even saying I'm thinking that it's going to be a broader way because the way you look at Bitcoin, it's not going to be this the same it is forever. Eventually, they're going to make a change into it and that you can actually start spending it. It makes sense. There's a lot of a lot of wealth that's locked up in Bitcoin that you can, governments can take advantage of.

Could you imagine they would allow you to spend it without any tax gains, capital tax gains? People would start spending it and then the sales tax would be collected. It's like, it's kind of, it's- Do you think they would start spending it? Do you think that the minute, like this is the other thing?

I'm not convinced about that. The tax is the reason people don't spend it's not like there Why reason I'm not spending it is it or do you just rather like not spend the best money and spend the shitty money? No, if I have an option, I'd love to continue to just spend Bitcoin to show off that it is a medium of exchange I'll replace it. Mmm, you know if I spend you spend you know. You're in the SNR camp spend and replace. Okay I'll try to replace as much as I can but I'd love to use it as much as possible. That's fair. And if that's the case it's a two trillion dollar market cap. Now how much do actually people hold and I'm not talking about ETFs or corporations like just actual people like you and I, Joey, just Joe blows, right?

You know, a few billion worth, right? I would say that's I would say. Yeah. Yeah. And so that's you could unlock that potential to be spent. And then that's that is money that could be captured in taxation through sales tax and so forth. So it's a valid point there. It just makes sense to me. But what the fuck do I know?

I'm just in the basement. Yeah, we don't we don't know anything on this show. I Fully miss this. Yeah, so stick on this whole lightning and Square train because they also run their own Bitcoin node and it's called C Equal sign that's C equal sign And you could see their node if you go to 1ml.com you can see exactly how many channels they have, how much liquidity they have. And as a few days ago it was 185 bitcoin they had in liquidity for their lightning node. Then as of yesterday it was 198. Today it's down to 184. So

there's a lot of management that's going on with in terms of opening, closing channels. How are they doing that? You think the channel management? I don't know. Don't think it's automatic. I think it's some guy. That's a lot of work. Yeah. But it's high stakes work as well. Yes. I mean, that much on the line. A lot of change. You still have a CEO you can call to fix this. And so there's a lot of effort CEO you can call to fix this. And so there's a

lot of effort that's being done to manage this. I just assume it's not automatic. Maybe they've managed to program something. What the fuck do I know? And why do I bring up this particular node? Because it's being reported that through routing fees, they were able to generate a return of 9.7% yield on their Bitcoin over the year. So this was all done with managing their own keys too. So it's not like they're giving up their keys to a third party to get this yield. They hold on to their keys when it's respect to this. And this is eye opening and a lot of people may wonder how could I do this? I want to take advantage. I want 10% yield without giving up my keys. It's not the same because what they're doing is they have a lot of liquidity

that's put up in there. They have a lot of traffic going through their node. Look, they have their square terminals and I would imagine they're all going initially through their node. A lot of time to manage this. It's a lot more than just say an individual would want to do with time, effort, and also locking up Bitcoin, tons and tons of Bitcoin. It becomes essentially a part-time job. So the better way of doing things, my opinion is actually get a part-time job rather than doing a part-time job like this and using the proceeds to buy actual Bitcoin. You're probably better off in the end. Just my two cents. I could be wrong, but that's the way I look at it. This is a cool story. It goes to show if it's done right, you can get a lot of...

Okay. Okay. Let me jump in. Let me jump in. If it's done right, is it replicable outside of something like Square where they can really drive traffic through their node in a way that not a lot of other people can? Great question. Probably not. Yeah. That's a nice little business model they have there, if they can keep that up. Yeah, 100%. Yeah, but it's hard to replicate that.

Remember when Lightning Nodes first started to proliferate? I mean, they're not really proliferated now, but there's more than a few now. People were always talking about how much money can I make routing, and the answer is nothing, basically. Like you're doing it for free, which is, you know, important. It's still important work. You know, as the Severance meme goes, the work is mysterious and important, but no one knows

what it is. I mean, that's how it feels on Lightning Nodes. Yeah, go ahead. Go ahead. Because when you do run your own node and you have, like if you're out and about and you have on your phone, your Zeus app that connects to your home lightning node You are connecting to your home Stack on your home lightning stack and you could use that to spend so you're not using a third party like a wall of satoshi You are your own bank and it's Fucking incredible to do that. It's not easy to do But when you just do that for the first time it's just like

to do that. It's not easy to do. But when you just do that for the first time, it's like, it's an eye opening experience where you're able to spend from your own stack that you control your own keys and it's on lightning. Really cool stuff. But it's not easy to do. Do you have any comments on the wall of Satoshi post about a self custodial lightning wallet on your phone that they just tweeted out? I am not aware of this. You have to speed. Yeah. Yeah. I don't land. I don't know much about it. I thought you would, but I forgot and I think you should look into it. I think you will have something to say about it next week for sure. Seems like it's caught at least a little bit of heat, but it's interesting. I think it's being discussed in one of the group chats. We're in the largest group chat that we're in not the discord

But another one on signal Yeah privy to that one or not because oh yeah, it's a corn lord shot the corn. Okay, there's some branches and stuff I don't participate in a lot of and who knows maybe one mothership the mothership has it It's the first one bid ax. Let's talk about bid ax. Sure. Is it you know, we We sold a lot of itax. Like a surprising amount. And very quickly. Yeah. You're welcome.

You're welcome, Decentral. I know we don't have a sponsorship deal anymore, but I wish you guys the best. Enjoy the significant profits. Because we sure didn't get anything out of that. I'm glad you guys did. So Bitax version 2.8 is now available. Just came live in the last few days. May 30th, I think, was when it went out.

I'll be very brief because it's not really, it's not a whole lot to say, but in order as Bitax users here to listen and watch us, it's easy to upgrade for those who have never done it. You go to your Bitax, sorry, Bit OS website and you do the upgrade from there. And the changes to 2.8 include a few things like historical data. So you can see the hash rate stats that are stored over time.

So you can see where things are trending. This apparently was a feature that people wanted. The UI has been improved. It's more cleaner and it's just a little bit better to look at. There's some technical improvements. So it's faster performances and there's improved automatic fan control and That is to avoid overheating in hot environments. I had a issue with my bidax I came one day and it was just blaring away like just the fan was going so fast and the hash rate was zero

I was like, what the fuck I just restarted it and it fixed it So I'm wondering if that issue was something that I had and maybe this improved fan control is going to fix it. It does get rather warm where it's located you know I live just sorry I work just under this register here. There's a winter time it's hot air that's coming from my furnace directly over me which is beautiful I love it but I don't think my bidax likes it all that much because it's just too fucking warm. But there you. 2.8 is out there while you were doing the story updated my bidax So that's how quick and easy it is to thank you. Thank you for that. Yeah, literally a cake Yeah, you don't even you don't you don't have to plug it in don't do anything

Just yeah download the firmware then select the file from the square beside it and you're done. That's it It takes all of 15 seconds piece cake circle it and you're done. That's it. It takes all of 15 seconds. Piece of cake. Circle. This is a company that's behind a stablecoin USDC. They filed for an IPO. We should be doing the same. Shouldn't we, Joey? Like what's your thing? Everyone's saying this, man. We got IPO. There's money to be made and I want to get me some of it. CBP IPO coming soon. CBP. V you can find us on the venture exchange. Yeah. Yeah. We'll dilute the fuck out of it. Just a heads up. Oh my God. Yeah. Then it's not your shares. Your shares are going to be fucking worthless by the time

we're done with this thing. It's going to be trillions out there. So the circle is going to go on the I it's gonna go on the New York Stock Exchange and it looks like that BlackRock and ARK. ARK we haven't talked about them for quite some time. We probably won't talk about again for quite a long time but BlackRock they're contemplating taking a big stake in the company. BlackRock may want to take as much as 10% from this which is interesting and they plan to raise $624 million through this IPO. And that's through the sale of 24 million shares. And the price range between $24 and $26. That gives a valuation of around $6 billion based off that. And the expected start date

is June 4th. so that's just on Wednesday this week. Yep. The IPO was supposed to go live April 1st. Truly a great day to do anything April 4th right? But apparently it didn't turn out to be the case because tariffs was in the news, the environment was just not right. They put this on. Also, I'm not sure if you heard about this, but Ripple and Coinbase were trying to purchase Circle before that the IPP did. I did hear about it.

Four billion dollars was a number that was being thrown around. Not as much as the current six billion dollar potential valuation. So maybe that's why they never ended up getting it. I have zero aspiration of getting this, but USDC, it's very chummy with the US government. Yeah, that's going to be the stable coin slash CBDC, right? Seems to me like that's a good candidate for all this stuff. Stable is going to drive treasury demand around the world, apparently, or should say US dollar demand around the world apparently or should say US dollar demand around the world.

I think that's probably true. It takes away most of the friction. Digital dollars are going to be in demand everywhere. That currencies are weak. So yeah, USDC. I mean, there's a bunch of people who look at stable coins and think what's so entertaining about this, right? Or what's so important?

It's a dollar for a dollar but the importance is in excuse me the lack of friction there's a lot of people who want US dollars who just can't get them and now they will be able to and this is gonna be very important for US soft power and the currency hegemon going forward so did you ever use it stable Stable coin? Have you tried one? I have not. I have not.

I would like to though. I'll be honest. I would like to try it because I think it's like I said, I think you're going to I think the likelihood of you using a stable coin as your default fiat currency in the next five years is 100%. So I expect that these things will become ubiquitous. Second time I've used that term on the show. But yeah, they will.

It only works if the fees are cheap. They will be cheap because there's no the benefit isn't in the fee. It's in the demand for the currency. So they don't need the fee anymore. The government will. Well, there is no intermediary. No, but you're saying for people that the people that in like third world countries that would want to use this because there's no there's no

availability to get physical USD. If there's a high fee, it basically erases the race. Where's the fee? Where's the fee going to be? This I've tried a stable coin many, many years ago. I tried just to see what it's like. And there was a signal like $10 to like buy some USDT. Oh, I mean, who knows, right? It's like, what the fuck is now? I don't know. Yeah. That's why I looked at it. I was like, how could this be usable?

But I don't know if things have changed. Fees in general trend to zero, right? On this sort of thing. So much the same as I think they do. I think they do. Because the fact of the matter is as demand goes up, you don't need the fee to be as high. And I, you know, maybe I'm living in... Bitcoin would back to differ. As demand goes up, then fees go up. There's a story there too, of course, a little different than the stable coin, but I take your point.

So that's why I don't know. And if there's a significant fee associated with moving around a stable coin, then it just defeats the purpose of using it in a country where you're basically hand to mouth. You would just find something else to use. Yeah. So I can't speak with any experience here because I just don't know. So like if anybody knows, feel free to correct me or let me know. But the only sort of value left will be creating, I think, by the time we're all done with this. What about GameStop shares?

Because they bought up almost. Do you care? This is an interesting story. Do you think this is? No, it's not. All I'm going to say. Yeah, me either. I don't want to talk about it.

I think it's stupid. It's completely irrelevant to me. Ryan Cohen is a fucking con man. Honestly, how many more things you need to see from this guy. Also the language he used, like if the thesis is correct, we hope it works out. We'll see how it goes. Like this guy's not serious about Bitcoin. He's pumping his stuff.

He's dipping his toes in it. What is their treasury value? They put about 500 million in. I think their treasury is,, you know 20 billion or something It's some huge number. I'm pretty sure So that's a lot of breath in a while as they sold. Holy yeah, buddy. Don't I'm already hyped up I give up this is this is the real reason why we're not doing interviews because as soon as my switch gets here I'm getting the Zelda upgrade to graphics. I'm playing tears of the kingdom. Have you looked at the

the price on like secondhand markets how much switch 2 is going for i haven't how much don't tell me is it is it a thousand i've seen as low as 825 yeah and as high as 1200 with mario kart oh good question i have that's the bundle like a lot yeah i have the mario kart bundle coming i mean it might come maybe my delivery driver could steal it I guess as well. So as well anything can happen I'll have to be on that day to make sure the cat doesn't walk off with it But Thursday, we're usually busy recording and so Friday I'll be out golfing

So fuck man, I gotta get this thing sold by the weekend somehow. Yeah, I got two coming in to Allegedly allegedly I might know a guy who wants one. Maybe I'll put you guys in touch. It's not going to be a cost. Yeah, whatever. I mean, he has to know that. Yeah. Other consoles that you got your hand on through, allegedly, for a cost. I had a great friend that day. I had a great friend that day. I hooked up a few people because it was a... I was able to secure quite a few of those. Well, someone was able to secure them. Yeah Well, it's something that would have cost a lot of them too I was able to help out folks and I guess this last story is this guy was not getting helped out

Are we cruising to 106 here? Do I see your block lock? Correct? Is that right? Yeah, it's very close. It's a show So if we if you want us to stay on for the next 24 hours, we can Be a fucking marathon I'm gonna get Kanye West on here say some insane shit like he did both George Bush back in the day that Kanye West saying George Bush doesn't care about black people next to Mike Myers was an incredible clip and Incredible foreshadowing that just none of us knew at the time what was going on in that guy's head he turned out to be a little wild. Why can't we do some other Bitcoiners to just pop open the book, a book and just read. Yeah. The mic. Yeah. I got a bunch of Bitcoin books I've never read. So I love how people

do that. Anyways, and not talking about guys want to like guys. I'm a really cool guy. Yeah. Hey, some guy posted on X about some scary shit about treasure, uh-huh and Someone bought what they thought was treasure one for a very good price and they got it from one of those resellers like Alibaba and The problem with the device it turned out to be a fake It was a fake fake. It was a fake book. What do we even say about this, man? Well, you can't get anything real on Alibaba. Nothing. Maybe maybe like Huawei phones or no, but even if even from like other

places, like if it's not from the actual company that is selling like CoinKite, for instance, if you're not buying direct from there's a could be a potential problem for this one. It had a fake bootloader and it different inside that would be in the actual treasure one. The firmware could not be updated. And worst of all, it does not randomly generate a seed phrase so it came pre loaded. And like I say, it's why I recommend buying direct from the vendor like a coin kite

And that way you could check to see if the package was tampered with shit like that and also coin kite their products It's clear at least mostly clear like you get different colors But you can still see inside to see if there's any tampering that took place. I Like that. That's a good feature to have or so Yeah, treasurer's shit to begin with, but buying it like this, it's even worse. Whoever got these and probably they sold a bunch. Fuck.

Your Bitcoin is gone. Tough, tough look. You know, I hate to say it, Len, but this is deserved, is it not? People are just not looking for deals though. Like, yeah, you gotta know what you're there. They're going to buy. Yeah. Look, there's this treasure. I see it on Alibaba. I'll buy it. And they just don't understand the implications from doing that. They don't understand that if it's not generating the seeds, it's already there. You can't update shit like anything you put in it. Somebody else has those same keys and they can sweep that into their own wall.

Like NBD, they just understand it. TTYL, HFSP. Pick your well, like this in there. This is a hot off the press. I have nothing to say about this, but it's just funny. MicroStrategy announced the launch of the stride. S T R D is a ticker, a new perpetual preferred stock offering available to institutional investors and select non-institutional investors. Wait a minute. So what do they have? Strike stride strategy,

the flywheel turns, man, the flywheel turns. They're there. They're there. They're milking this fucking thing as much as possible. And kudos to them. People are buying the debt. They want the shares. They want the bonds. And so isn't it kind of like they're doing this to try to make the earlier investors money, right? Trying to, I don't know, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say,

say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say, say,'s worth. But when I hear him say things like, I don't need to publish proof of reserves. Like, okay, well, maybe you do, maybe you don't. My opinion, you probably should. Or at least have an auditor say that you have it, right? If that's

an option, big four, no problem. KPMG would do it if you ask them. I'm sure Deloitte. I also don't love when I hear stuff like I don't care about the call option holders to the share. I don't care about people who bought the shares recently. I don't care about this. Don't care about that. I'm trying to make the shareholders money who are in it for the long haul. I think that that's, I don't know if I think that's like necessarily a bad thing, but it tells me that there's at least conversations happening about who's going to potentially lose money on these actions.

And if one duration holder can lose money, then you can also lose money. There is no guarantee that any of this stuff works out at the duration that you prefer or they prefer that you prefer when you're buying MSTR. Long-term, NFA of course, I don't think this is going to be a problem for the company. And I don't think it's going to be a problem for MSTR. I don't think it's going to be a problem for MSTR shareholders who want to hold for five years

or 10 years or whatever because let's face it, the success of this company is tied to the price of Bitcoin. And if you think that the Bitcoin price is going to a million, then a company with that much firepower in the treasury is going to have a lot to say about the future of finance. And that's a company you want to have a piece of if that's the game you're into. But I think there's a lot of risk. I said this to Boomer last week too. Sailor, the more he talks, the more crazy he sounds. And the key man risk is not necessarily him dying in a helicopter crash It's him talking too much over the next two three four years five years, whatever We'll see how that goes

But you know stuff like Bitcoin torque. That's a red flag for me Bitcoin per share is a new metric of financial for financial vehicles. I think that's bullshit But hey, what do I know? The price keeps going up. He's made a lot of people fucking filthy rich. You know, I said this on the show before, full disclosure, like I made a small fortune on MSTR last year. And I can't say anything except that whatever he's doing seems to be working for the time being. But the more I hear the more hesitant and apprehensive I am about the future of the strategy, not necessarily the stock, but this like new financial metrics all the time. Now, by the way, all of this

is out the fucking door when they make it into the S&P 500 because once you have agnostic flows, you're never looking back. No, you are. What is the weakest link on this chain here? The success of their company hinges on what? I guess buying volume, buying demand. It is 100 dependent on Fidelity and Coinbase successfully holding onto their Bitcoin. Because once, if ever that is compromised, their valuation is nil. That's not nil. It's negative, but essentially it's nil. That's their success.

100% hinges on fidelity and Coinbase securing their Bitcoin properly. That's what do you make of his rationale for not revealing the wallet? That it makes him a target for trolls, that it could compromise the security. I don't think I agree with that. Again, you can look at me and Boomer's discussion from last week. I won't drag Len into it now, but I don't think I agree with those things. He's already a target for trolls. He's already got the online, you know, the counter signal hornets to deal with.

You know, it's not just the Bitcoin hive he's got. He's got a lot of people looking at his stock and his character. Not to mention Len, you know, this guy committed a significant accounting fraud in the early aughts. I don't know. I don't think he's doing it again, but like he's always talking about, you know, everyone's watching if it was, if it, if I wasn't even aware that was the case. I had to do that. I did a lot of, did a, he did a quick fraud job in the early 2000s.

Look it up. MSTR. He was still the CEO then. So what's the difference between him and Christine Lagarde? The scarves, I would say. But if that's the only difference might be where it's not much of a difference then I Just want to add that Like Len cover your ears Coinbase has never been hacked for their Bitcoin

Neither is fidelity not saying it. I've never been I have never been mugged. I've never been shot. I'd never got to a car accident. But you never know. Right. Just because something never happened and I never got hit by lightning playing golf. Yeah. I've never, there's a lot of things that never happened, but it doesn't mean it's not going to happen. Everything. It's just every day that it doesn't happen, it's you're rolling the dice. Yeah, I think the chances of you losing is very slim, extremely slim. I want to hear more.

I think I said before, okay, and I said this to Boomer the other night. I want to hear Saylor do some adversarial interviews and right now he doesn't. He's got everyone wrapped up in this Bitcoin charm and he ain't fooling me, I don't think. And I think there's a few of us out there who would give him the gears and he doesn't go on those shows and there's a reason for that. So I will note that we tried to get Sailor. This show is big enough to get Michael Sailor. If I look at the audio side of our plays, you know, the show has a million downloads, we could get Saylor if we wanted and we haven't been able to get a response from him. Maybe because we're critical, maybe because we're Canadian,

maybe because he only goes on shows with 2 million downloads or 3 million downloads. I don't know. But yeah, it's it's fascinating to see the shows he goes on and the way he carries himself when he's on those programs. You hardly ever see sailor on panels at conferences. He mostly does keynotes now. I don't know. There's a part of me that says he doesn't have to do any of these things, and his time is more valuable than I think. And anyone thinks. But I think that's right.

Yeah, I think so. I think so, too. So it's just, yeah. Okay. So tore up in the chat asking if he can, if he did, um, if he did talk to or did do debate with shift, he may have in the past, I don't think he's, unless I'm missing it, he hasn't done one recently. A debate with doesn't matter. I don't think it's not. It's not that I, it's not about that for me anymore. It's about, I want someone to challenge him on his views because it seems like when he talks about why he thinks certain things, like about the medium of exchange, about the wallet reveals, about the store, like he doesn't

have a good understanding of what he's talking about. And that's, you know, it's not good. I don't know if it matters that much, the shareholders, maybe not. Does Jeff Walton care that he doesn't understand why Bitcoin should be a medium of exchange? Do any of the MSTR True North guys give a shit that he doesn't understand how wallet security works? I don't know. But he is not talking about it. And I think that the more he talks, the more he outs himself, honestly, I think. I think that's how I feel. Mr. Sailor, you're welcome to come on this program anytime. I would love to talk to you about this and other things.

I want to talk to him, but I'm not going to beg. I would be interested in hearing his thoughts on these things. And I don't want to, I don't want him going on. I don't want to listen to more sailor steamrolling content creators because they want the plays. Like that's what it boils down to. I like a lot of these guys. Don't get me wrong. I've named names before on this show and I don't think the shows he goes on are making

slop or anything. But you know, I look at a guy like said, young woman who's had them on, said the maybe the best interviewer in the space again, like I'm rehashing some of the stuff me and Boomer talked about last week, asked thoughtful questions, always well researched and he does like second order research as well. He's asking questions that are adjacent to the Bitcoin interests to keep the guests engaged and to kind of throw a curve ball in sometimes. And he doesn't get to ask the questions that I'm sure he has ready because the sailor just rolls downhill and then never comes back It's you know, he's got a strategy. No pun intended. It's working and I will just say that I am

Fascinated with the way he's Deploying his time these days Let's end this. Yeah, I can't really talk so much about this fucking stride shit. Yeah Well, I mean it kind of it just leads into other stuff, right? But anyway, yeah, we'll go to the notable stories now come back if you're on audio Through the magic of video and the internet we will be back in zero seconds If you're with us live on Monday night, so if not, take care. We'll see you tomorrow and don't be a cook