The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Core vs Knots Rages On, Mallers Under Delivers Again, California Wants Your Corn | The CBP 218 Pt 1

Episode Date: June 10, 2025

FRIENDS AND ENEMIESCalifornia is making a bold move to get its hands on your Bitcoin, but is it a step too far? Meanwhile, Strike is making a shocking about-face that has everyone talking. Elon Musk and Donald Trump are at odds once again, but what's really behind their cultural clash? We dive into the latest developments on the California riots, immigration, and the cost of living crisis. With inflation on the rise, can Bitcoin provide a safe haven for investors? Join us as we explore the intersection of politics, economics, and crypto news. From Trump's policies to Musk's updates, we've got you covered on the latest trending topics and immigration debate. Don't miss this episode of The CBP!#musk #trump #california #newsome #bitcoin #MSTR #saylor #BTCJoin 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.

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, sponsors taking care of right off the top, oh Bitcoin and easy DNS, the media is feeding a slop, it doesn't matter what topics discussed, quality entertainment and information you can trust, quality entertainment and information you can trust, send the guys some value, boost them with some stats, Bitcoin Friends and enemies, welcome back.

The Canadian Bitcoiners podcast. Len, I don't know if I should be worried, but I just saw a couple pallets of bricks outside my house. You know what that could mean. So I'm keeping an eye out for rioters. Is it the Masons? Are they nearby? This is amazing.

For the Masons yearly council. Maybe it's the stonecutters. Could be the stonecutters meeting. I heard they're gonna be hanging around in the Hamilton region. Oh my God. Just shoot me. Take off the stone of shame and put on the stone.

I forget what the second stone is called. Such a good episode. Listen, Len told me before the show that we're up against Leafs game three or Leafs. I fucked the Leafs and Laramie in the Stanley Cup final before I'm dead. The Panthers and Ornithers. That's a good bet. Do you think they will make the finals before you? Million dollar Bitcoin or Leafs in the Stanley Cup? What comes first? I would say you'll be USD 1 million versus you disappearing. Unaliving? I don't know.

Right? It's like we're talking, you know, I don't know, man. It's a long time. It's a coin flip. I wouldn't put any money on it. Yes. Kyle Dubas is I think still managing the Leafs and he's around my age. So isn't it? You talk about the coach? No, no, no. The GM. GM. Shanahan was the president. He was. He's gone now. But I think dubas was still involved or maybe he's still involved and obviously, yeah I was talking to actually jorda before the show here just trading dms with him. I have a switch That came to the house today a new switch. I'm probably not gonna get to play it for I don't know a year at this rate Rennos going on in my house. Things are busy, man You know the older I get the busier I get and the more I just want to be left alone to work out

Honestly, so send it back. That's what I'm doing. Because you know what? It turned out to be a flop in terms of the resale market on that. Did it? Wow. Yeah. So I fired up tears today for like 10 minutes and the fidelity Len, like that's the way the games meant to be played at 60 FPS, like high frame rate, high contrast, good graphics. My TV is 4k 120 and the switch I guess does 4k or does HDR now. So I recognized that right away and made some changes. If you're not CRTing it, like you just- Is that right? The experience is lost, right? It's got to be true authentic 16 bit CRT style or 8 bitbit depending if you want to go there. We got lots to talk about today. Shipping container houses. I sent you and Mark a voice note that I want to just repeat later in the show. We are truly living in interesting times.

But first, the sponsor. Speaking of Mark, EasyDNS, your friendly neighborhood registrar. Go there and take care of all your domain and hosting needs. I mean, what else can you really say? If you want to buy a domain,, mark your man. You want to port one over, you got one already, bring it over there, mark your man. Tons of security stuff over there Len. We talk about this stuff on Accessive Easy every week on Thursdays, releases Fridays. You should be subscribed to that channel and podcast. But on the EasyNS side, Easy Mail and Domain Share for a couple extra bucks. Make sure your information, your mailing list, your business, your clients are all protected and you're not getting spoofed by some scamming group from India or something. I don't know.

And then on top of that, what else Len? All sorts of virtual private server stuff for the Bitcoin enthusiast. You can do BTC pay servers, you can do NOS relays, you can do Bitcoin nodes, anything you want possible with easy DNS. Go there. Our promo code CBP media. Load your cart. 50% off first round of buys. Can't beat it. I see AP, I think that's Alex in the chat saying do this lefties what depends. Yeah. See, I go to show what I don't know anything about hockey. I'm completely lost out to lunch on the hockey management side. That's for sure. We'll bring you up to the speed then bring me up to speed too

But you know what? I don't have to bring up the speed is people learning them to or wanting to buy or sell Bitcoin because bull Bitcoin has you covered I was just looking my block log 110k what the hell happened today either way, maybe people are buying obviously people are buying but gives an opportunity to sell to you Can do that will bull Bitcoin on chain lightning last time I checked fees are still very cheap blocks are not full So use the on chain because that is the way to go But eventually we'll have to use something else like lightning other things you could do with bull Bitcoin You could send it like it through e-transfer so you can send your Bitcoin through an e-transfer, which is rather cool

That's one way to pay people for stuff because you know what lately I've been purchasing things from folks Eggs for instance and yeah, you know, it Lately I've been purchasing things from folks, eggs for instance and yeah, you know, it's one good way to end up. By the way, duck eggs are available. Did you get some? Yeah, I did. Have you tried them? Family did. Nice. And?

Yeah. We'll see. Yeah, thumbs up. But let's talk about bull Bitcoin because they're the ones that pay for it. You cannot get, you can't get duck eggs from bull Bitcoin. Okay. You have to know someone and then use bull Bitcoin to pay that person. Bull Bitcoin does not have any ducks on the ranch. All right. There's no ducks over there. So check them out. If you're in Canada, Mexico, Costa Rica, some parts of Europe, bull Bitcoin is the exchange for you. Non-custodial.

This is what you want in the exchange. They are mission focused. If you use our promo code below, it's gonna take a little bit off your bias moving forward. In perpetuity, check them out. Yeah, you love that. Man, some housekeeping first, then we'll get to the boost. Last week, Mike Hobart and I sat down,

and like it's a first time guest on CBP. We followed each other on Twitter for a long time. He was a great guest. And the chat had some things to say about the discussion that we had about feminism, masculinity, families, all sorts of stuff that I think we generally agreed on almost everything. One thing I'll say is that on this show over the years, we've had some easy conversations,

stuff that everyone agrees with, and we've we've had some easy conversations, stuff that everyone agrees with, and we've had some not so easy ones, stuff that not everyone agrees with. We've had some shows where me and Len don't agree with the guest, we've had some shows where the guest doesn't agree with us, we've had some shows where me and Len don't agree with each other, all these things. And it makes for a good show as long as the conversation is civil, as long as it's not, you know, I hate to say it, but you don't want to be dumping hatred on anybody over their beliefs or way of life. You may disagree with certain religions or people or whatever, but you don't have to call for them to hang

in the town square or anything like that. And I think the conversation Mike and I had was pretty good. We touched a lot of topics and he wrote a book that's just out of reach right now called The Second Renaissance, which so far has my attention. Very short, I think it's like 20 bucks on Amazon. So I always recommend to people, and this is something I do obviously for the show, I will buy the book, the record, the whatever of the people who come on this program for two reasons. One, I want to support their work, and obviously they're giving me their time and the least I could do is try and do something for them if they're selling a

product or a service. And the second reason then is I want more Bitcoiners writing books. I, you know, I want to see more of that stuff. I may not agree with everything in the book. You may think that there's other places where you can get that information as well, but the fact of the matter is you want to flood the zone with that way of thinking. And yeah, you know, that said, I'd love to have Mike back on. He's ready to come back on. I'm expecting that he'll be a multi-time guest on CBP. So yeah, enjoyed that quite a bit. Reverend Wendy Hamilton. Is that the rev Rev Wendy? Yeah. I think that's where that all started from. And maybe you still have that shirt. Yeah. Wendy. Yeah, I think that's where that all started from and maybe you still have that shirt

Yeah, the sweatshirt Said hope dealer great sweatshirt, but it was just so shitty. The print is like worn out I wore it a lot though. I got a lot of comments on that sweatshirt. So there you go Do we have this this week? Are we doing anything this week? I'm not sure Unless you want to get together for half an hour on Wednesday and record something. Nobody wants to talk to us or watch us. I mean, there's guests that are in the hopper for me. I just need a couple of weeks off is what I want.

We could do. Joey, we could play some Mario Kart and stream that live. But it's not going to be from my place because I'm not going to bust out my Switch too. So it's going to have to be off to go over there. You're more than welcome to come over and see the studio you helped pay for. Can I play switch too? I think we can play. Yeah, you can play with the two.

What do you call them? Not joy cons. Yeah, I was going to call them drift cons. Joy cons. Yeah. Hopefully they fix that drift issue. I have no idea, but it doesn't matter. There'll be something out this week. I don't know what, maybe a barbells in Bitcoin.

I have some thoughts on the personal training. So how many hours in Bitcoin right now of Mario Kart have the host log this? I have not played any zero and zero. Yeah. Yeah. So my switch I'm not keeping it. It's going to be sent back because it's, you know, resale market disappeared and Joey's busy with stuff. I have them. I have Mario Kart though. The bundle. Yeah. But it hasn't been cracked open. No, I still have to do the code thing or whatever. The scratch and sniff card. Yeah. There you

go. There you go. That's good. Yeah. So I don't know. We'll see about a guest this week. We'll do something or there'll be another release. I just don't know what yet. It's summertime man. Me and Len are thinking're taking the summer off from interviews, you know? People don't want to sit around on Wednesday nights. I'm so busy now with my daughter growing up a little bit. And like I said, we've got a lot of stuff going on at the house. It's going to be a busy, busy, busy few months. We're going to keep pumping out as much as we can though. I promise you that. We'll be printing stuff like this. I love, I keep this always on standby.

This is a one Singapore dollar. I love having this here. Anyways, some boost Joey. I'm gonna go through those. 521 Sats comes from Doom Satoshi. Love that name, Doom Satoshi. Going to the grocery in China. Hopefully this is cheaper every year

in sats. It's not a guarantee because as you can see, the price of Bitcoin moves up and down. I mean, I think over a longer period of time, a hundred percent, not financial advice, it will be cheaper. Yeah. So yeah. I mean, maybe back to five digits next year. Maybe not. Maybe who the fuck knows. We'll see Owen six six six sats. He says always a fun. Listen Len was especially angry today. I approved on this thumbs up Well, yeah, I'm angry every day these days the Bitcoin soldier on Nostra 711 sats GTFO seems like the easy way out a bunch of people like me won't be able to leave easily.

Friends, family, jobs, just to name a few, we will remain behind and improve our situation and improve Canada. I feel that sentiment. I don't want to say it's the easy way out because it's hard for everyone to do a get up and go strategy. Lend is a proponent of that strategy. If you can do it, it's great.

But it's still, I think you've admitted as much, Len, that it's difficult to do those things. There's some big decisions you have to make along the way and stuff you have to give up. But there's a lot of people who want to stay behind and work to get Canada to a place that they remember. Maybe they can do it. I think it's less likely with each passing day, unfortunately, but we'll see. We'll see what happens.

Yeah. You got to vote harder. That's really the only way to get out of that. I mean, this is, this is where I'll talk about it. Okay. I sent Mark and Lana a voice note today. I was laughing, you know, usually around three 34 o'clock. I'm still working, but I'm, I'll start putting on like some YouTube stuff, some podcast

stuff that I meant to listen to, to try and like get my bearing for the Monday show. And you know, I had CPAC on, QP on one screen, and I had Prime Minister Carney talking to and about our military on another screen. On one screen, I see Minister Freeland, who I think is the minister of what? Housing and Development? Transport. Transport. Okay, so not sure why she's talking about these houses

unless they're coming off of trucks, which is possible, I guess. Talking about how Canadians are going to be blessed with the manna from heaven known as modular homes, shipping container homes, and the government is doing more to put these homes down and give Canadians a place to live that's reasonably priced and that another member from one of the other parties, it wasn't the Bloc, it was either the NDP or the Conservatives, basically got up and just said, hey, my generation, he's probably around my age, probably in his mid-30s, my generation does not wanna live in a shipping container

and everyone applauded. Meanwhile, on the other screen, Prime Minister Carney talking about how our military endeavors in the future will be secured and bolstered by quantum computing. I don't know any countries, past or present, that are putting up shipping container homes and also using quantum computing and military operations? Do you know of any, sir? I'll ask you.

Not that I'm aware of. I'm not up to speed with this. However, one of the things that was announced today was Canada has met its 2% of GDP obligation with, I think, NATO. So I believe that was also part of his announcement. Although I didn't hear it, I just assume it was. I think, yeah, I think he's on the way to that. He got some questions from reporters who are who are rather pointed in their lines of questioning, calling his accounting tricky and slight of hand a couple of times. This is Prime Minister Carney. And he had to answer some difficult questions today from the press. I think everybody, I'm not an accountant,

I'm not an auditor, I'm not any of these things, but I will say that I think everybody understands that getting to 2% is difficult for a country that, you know, by our own admission, can't repair aircraft because we don't have the skills or the parts to do so. We have four submarines, only one is seaworthy at the moment. It's dependent on the environment in which if there's an appetite to go into debt, then achieving the 2% I think it's easier. If the goal is to get to zero and not increase the deficit, or so not increase the debt and not go into deficit, then it deficit. Difficult. Then obviously it's more difficult. So it really depends on what's the appetite for how much more debt you want to accumulate.

And if it's a little bit larger, then getting that 2% is going to be a lot easier. Yeah. Do you think there's anything to this talk that most of the NATO countries will go above 2% to something closer to 3.5? I've never heard of this. What's the rationale for this? countries will go above 2% to something closer to 3.5%. I've never heard of this. What's the rationale for this? I think they view this as a better long-term, medium-term goal than the 2%.

The other thing too is that we've been saying a long time now that our GDP is going up and up and up. That may be true, but a higher GDP means a higher contribution and we don't have the productivity for it. We don't have the manufacturing for it. I still think it's funny to listen to the political rhetoric and then hear Tiff MacLum during his press conference last week. Did you watch the Canadian rate announcement? Somebody asked him what he thought about the US, you know, Canada trade thing and asked if he thought that we would always be tied to US or if we had another option. And he said, yeah, we're always going to be tied to the US. Have you ever looked at a map?

I think everyone's getting pretty tired of the rhetoric. It's affecting people now, right? You see the prices going up, you see that there's controversy around stuff like TFWs and LMIAs and tariffs. These things sting, man. They sting for average people. And more people are average than you would think because people will always lead you to believe they have a little more than they do right and so you know a lot of these people who are pretending they were above some of these changes are gonna find that they are in fact right in the crosshairs when those changes start to land. Now with respect to Tiff though he has no say in this so people complain to him

whatever they want for him it may not be in one year not the other but it should be because really I mean made us the wrong way to frame it. Well trade imbalance and trade policy affects stuff like employment which although it is not a mandate for him like it is for the U.S. central bank it's something that contributes to his rate decision for sure but you're right he doesn't have a say I mean short of sharing a stake with Prime Minister Carney I don't think he gets a vote right. Yeah 100%. Jamie 1000 sats, prosperity, masculinity and the second renaissance with me. That was the title of the show.

I don't know he just copied and pasted it. Thanks anyway Jamie. It's good. Yeah we'll take those sats put them to good use. Last business cat 5000 sats. He's a big spender. Love business cat. Thanks anyway, Jamie. Yeah. Anyway, are we doing the measles outbreak on the list of things tonight in Ontario? We can add it. I love to talk about it. If we, if we have a chance, just a couple of things I want to point out about the coverage.

The Eglinton LRT Eglinton is finally going to get that later this year. It's been 15 years and there's so much going on. Tons, tons. A lot's going on. Let's do Bitcoin stuff first. Let's, let's stay with tradition. You want to talk about core? I don't, but we have no choice. What are these guys doing? Why, why is there a new PR every fucking week now?

This was been merged though, Joey. I know why it's like the data cap or something. I see that. Right. They're moving that. Well, it's these, they do shoot themselves in the foot and they first released a statement on the relay policy. I want to thank them for their divine guidance, right? Because let's be honest, without them, I'd be lost. I solely rely on their information, their expertise. Yeah, it's like following the science, right? Don't give me a chance to inject any sort of independent thought. I don't want to interfere with that. I want just Bitcoin's. The only injection I'm getting is the one that everyone says I should get. But those guys and gals and whatever, whoever are core, keep in mind it's the month of celebration.

So we have to acknowledge they want to flatten the curve with respect to filtering transactions. Yes. That's what their goal is. And they're doing this with this nice, it started off with this, it's almost like a misdirection with this whole thing that they released, this saying that speeding up the blocks, what they want to do, they want to predict what's transactions are going to be mine. This whole fucking speech, essentially they're just saying that stopping spam doesn't work. You could just simply go straight to the miner. The transactions are going to get filled no matter what, regardless if there's any filtration, whatever. We've been told so many times that filters don't work until they tell us, well, you guys can't do it anymore. Try to get rid of them.

they tell us, well, you guys can't do it anymore. Try to get rid of them. Thanks for forcing the issue, guys, right? And yeah. So the thing is, with respect to myself, my node is running on very modest specs. I don't have an infinite amount of resources on my node. I would like to filter out stuff that I don't want, what I perceive it to be as trash, as spam, as stuff that I don't want. What I perceive it to be as trash, as spam,

as stuff that I don't wanna have in my mempool. I wanna have the ability to have the option to take it out, right? Or at least something. So I want some flexibility. I wanna be an independent node operator. And what Core is doing with this, it's pushing down this shit down our throat, right?

Regardless if we want it or not. It's now you're just forced to take it. I understand it's the time of celebration, but I don't want anything shoved down my throat. Thank you very much. Just leave it at that. These guys then after this whole spiel that came out, then they said, you know what, we're going to fucking merge this version 30 of, of core, which is going to be coming out later this year, I believe I could be wrong the they're

gonna uncap the data carrier by default so that means it's gonna be removed you can do it in the options into Bitcoin comm file you could put the data carrier size option back in there but they do advise not to do it. Why? Go fuck themselves. I think it doesn't make any sense why they are trying to push this. It makes me wonder who is paying for this to happen. Bitcoin is at the point where it could topple over a lot of trashy fiat systems out there and it could essentially just replace it with something that is a hard asset.

Lot is at stake here. A lot of powerful folks here are gonna lose that power because when you have control of money, you have control of the power and Bitcoin removes that. So I'm wondering that these guys, who's paying them? What is the MO here? Why are they doing this? Luckily, there are options out there. Luke, I just want to

say that guy probably has a target on his chest because he is, I don't know what's going to happen with him, but you know what I mean? Like he's public enemy number one when it comes to these core folks and also the spam and trash folks. Yeah. Because he and his knots option gives people the ability to have options have control over to be independent node runners. This is what we want to do. This is de-central. I don't want to be forced into into a corner and to do this fucking bullshit. I used to love running core, but no longer. It doesn't make sense. And if you think you could still run an older version of core that is not subjected to this because like I said version 30 is gonna be having this, they don't maintain the old versions forever. Right now they're maintaining up until 27.x. So every version of 27.x and newer 28 and

29 they're all getting maintained. But once 30 comes out, 27 gets mothballed, and 28 is then the oldest version of Core that gets maintained. And once 31 comes out, version 29 is the oldest version that comes out, and so forth. So eventually, if you wanna run a modern version, something that has been maintained, that has bugs that have been fixed,

you're gonna have to upgrade or update your version of core until you got to version 30. And at that point, well, unfortunately, spam, clore, like it's bullshit. I don't know why the fuck they're doing this. Okay, let me ask something. Since I have like literally zero opinion on this, except that I think it's stupid. What would it take for you as a guy who pays attention to the technical side of Bitcoin to think that the devs

were hostile enough to the money mission to sell your corn? Sell it? No, I don't know. I mean these guys are pushing... If you look on Twitter there's people going absolutely hysteric about this. And I realized it's maybe the top of the iceberg, tip of the iceberg, I should say, and this is opening the door to other changes that are potentially going to be forced by the core devs, blah, blah, blah. I get that. But no one seems actually willing to get out of Bitcoin or fork it or whatever. So like how bad is this

really in that regard? It's bullshit in that there this is what is being offered to everybody and everybody tends to flock to this first and even not is built off of this. Yeah. Yeah. Right. So it's kind of the the the waterfall of where everything starts from So and if they're doing this and these are the people that seem to understand what should be bitcoin they don't Right, they're pushing this ability to increase the amount of spam that could go on Into bitcoin blocks. It's it's not about it's not about storing data Bitcoin blocks. It's not about storing data. It's about money. Bitcoin is a terrible way to store fucking data. The data argument doesn't hold water. This thing is not worth 110k a coin because of the data option. It's just not the way this is being valued. But this move that they're doing is catering to the, this is a database clientele, that's what they're doing.

Granted, I have to take this into context that you can go and easily go to a miner and pay that miner money to have anything put in the block. I get that you could do that. But why does all the nodes out there have to propagate this bullshit? Why don't we have the ability to filter it out as much as we go? And if you want to filter it out, great. And if you don't all the more power to you. It's decentralized. You have the ability to do shit like that. It's this.

That's what Bitcoin is. You're not forced to do something when you're forced. Then it's centralized. Then you might as well work with a central bank. And this is not what Bitcoin is. This is everybody has at least some fucking say in this, especially people that run a node. Are the knots, is the knot sort of, you know, are the knots faithful losing steam fighting this? I don't know. If you look at the one, it seems to me that they are like the metric we talked about before, like the adoption of knots for sure. But on the social layer, I'm not sure there's that much steam.

So now at 11 and change percent. Yeah, it's high. Yeah, yeah. No, the adoption is great. But on the social side, the question is, will a new node runner go to knots or go to core? That's a great question. So somebody that is coming to Bitcoin won't understand right away what is the use of a Bitcoin node. They'll understand I could buy it, maybe leave it on the exchange or shit like that. You have to go down this

long path to figure out why would I wanna run a node? And at that point, you're gonna have to do some digging in. You have to read, you have to talk to folks, shit like that. And through that, you would hopefully understand which option would be deemed the best for you. And I think through that, people would steer clear from going with core and go with something else like knots. So I think that over time, knots is going to continually increase its market share.

Core is going to go less than 50%. It potentially can happen. And that would be a phenomenal fucking, that would show that people are fucking pissed. We talked about the version numbers too, right? Like there was a lot of people who were going backwards in their version of Core compared to forwards. When did we talk about these numbers? Three weeks ago maybe? Something like that. So this is a bit more technical than we normally get on this show, but it's important only

because I kind of want, you know what I really want Len? I want the guys who sell pre-built nodes to have knots pre-installed and knot core. Like that, like that's an easy win if you can get it, but it doesn't seem like there's just any appetite to be on one side or the other by, you know, well, start or whatever. Start nine, start nine gives you an option. Yeah. Yeah. Yeah. And I don't know about any other. I probably Umbrell does. I don't really know. I never used Umbrell before, so I can't really say. So, but even down that path, people should use other options. These pre-built options, they're nice. They look fancy

and everything. Really people should have a lot more flexibility. Just run it on your Windows. Run it on your Linux computer, Rick. That's, and that way you could run where the fuck you want. And that's what I say is the best course of action, rather than getting these pre-built devices. Yeah. We'll move on, but mix picks in the chat saying, my node, umbral, star nine, I'll have the options.

So you got to choose there, yeah. People are voting with their CPU power and they're voting for an option and they like the fact that it's uh core sorry notch is a alternative to core 11 yeah in a very short period of time like that i don't know man i would love to see how things transpire in the next year especially if core maintains this stance is bullshit stance. I don't think again, I want to go back. Do you think that somebody's paying them for are they truly Bitcoiners?

Do they live and breathe Bitcoin like what the fuck because like I say, there's a lot at stake here and if you you could infiltrate this group of folks and you could hurt it. Who's paying them for data storage? Like this is the question that I don't understand anymore. You could have made the case to me maybe during the ordinals craze that Ethereum was trying to get at the cornerstone of Bitcoin by throwing JPEGs on there and convincing people this is the use case for the global reserve asset. Now I don't think they are.

You could have made the case to me that banks, guys like JP Morgan, guys like BlackRock were trying to get at Bitcoin because it's potentially damaging to their long-term business model. I don't think that's the case anymore. Governments maybe, but even the US now talking about obviously a Bitcoin reserve although that's kind of dead in the water. We'll talk about California a bit later. But you know, I just don't know who's paying. The incentives don't really line up. There's a lot of enemies out there. So who do you think? You've mentioned a few of them and you know what? I don't want line up. There's a lot of enemies out there to work. Who do you think? You've mentioned a few of them and you know what? I don't want to discount all of them. Yeah.

All of them could potentially be it. You think it's possible still? Yeah. Absolutely. And given what I mean, going into the weeds here, given what happened in soccer some 15, 20 years ago, there was huge scandal in Italy for the match fixing. In FIFA? No, in Syria. Oh, I was going to say FIFA is the most clean organization of all time. It's them and the Vatican, I think. Completely untouchable. Teflon.

So it's a huge scandal and it required very little resistance to get shit done because they were able to use these old mafia from Yugoslavia to come in and strong arm people. Just a few people here, just get them on board, a ref here, things get done. It doesn't take much to make people see things your way, especially when you threaten people. It happened in the NBA too. NBA got mixed up in mafia activity too. Yeah. A few referees, one of them, Scott Foster still refereeing games in the playoffs.

If you can believe that. Yeah. You can bet from your phone now, but I guess they think it's easier to catch him. I, I, I'm not sure. The, the, the Tim Donahue story for people who don't know, I can't do it justice, but there was a ref basically who was fixing games and admitted to fixing games and has done a big media tour since he got out of jail and said there was other people involved, look at the case. And so people started looking at the case and there's one specific sort of set of data that

really is damning towards Scott Foster. Every time Foster and Donahue were doing games at the same time in different arenas, they spoke on the phone during halftime of those games. I don't even call my wife that much and this guy was obviously fixing games. So there's a lot of specials you can watch on that. Netflix has a good one. There's a good podcast that I listened to maybe four or five years ago. The Donahue story is awesome. High drama, mafia. It's really good. It's really good. That's a, just a small snippet when there is incentive shit happens when you have money that, and if that could happen in, not to say that this is small potatoes, but comparatively a basketball game versus the monetary system we're dealing with. It's small potatoes.

Yeah. All right, Joey. This next story happened this week, but it feels like it happened a much longer time ago. Jack Ballers. Okay. Let's talk about him because he wrote there is no re-hypothetization with strike lending because remember they were doing strike lending you give them your bitcoin to give you some cash or some equivalent yeah and you're saying you know we're not going to touch your fucking bitcoin that's what they were saying that's what they were saying yeah well some guy named bitcoin cartoons on x got to give this dude some credit he went through the uh Terms and conditions of the loan section 3k specifically and it says that well this should happen

It's it's they're gonna be lending the stuff out to whatever the fuck they want So yeah, there you go. And he's asking for Jack molters to give some feedback to this. He is, you know, here's the clear terms and conditions saying, you know what, this is one thing you're saying something else. There's a contradiction here. The legal document kind of trumps what you're saying an X. And Maulers replied that this is a legal nuance, but definitely worth clearing up. And he says, strike partners with capital partners, capital providers like NYDIG.

And this should happen, he says, all the time. I don't know, man. Like, let's be honest. I don't believe him. I believe the fact once you give up your coin, they're going to do whatever they want because they're in business to make more money. For sure. Very, very true.

How are they making money on your coin? Are they opening a museum where people can pay to see your UTXO on their books? They're doing something with the shit you deposit. It's so hard to understand about this. There is a percentage you pay. If say you want to lend one Bitcoin, you'll get $110,000, but you have to pay back 2.5%. What a fucking percentage it was. So they're going to make some money off that for every legitimate person that pays it back but those companies are they're not holding on and just doing nothing you're not sitting on the keys this just goes to show every time you give up your bitcoin for something in these type of things it's you're giving it up you don't have your keys it's not

yours anymore and they have in terms of conditions the right to do whatever they fucking want with it more and they have in terms of conditions the right to do whatever they fucking want with it Jack Maulers he's left with I might have indicated on Maulers yet. Am I vindicated here? This guy never delivers man. He never delivers. He made all kinds of promises, huge promises over the years and now what's he doing? Don't forget he just jacked up the fees on strike too, right? I was six months ago, something like that, jacked up the fees on strike, got shit from plethora for that. Now he's doing it. Like now the Bitcoin brilliance, you know, that this guy was paraded around as is doing what? Oh, he's got another lending product where he's rehypothecating. Wow. That's visionary. Cool. That's great. Like give me

a fucking break, man. Are we done with this guy yet? Come on. We cannot keep putting this guy on a pedestal. By the way, by the way, Softbank and Cantor in bed with this guy and Tether for that 21 company. Yes. Yes. Yes. I tweeted that video that Pleditor made of Gensler. I think we talked about it a couple of weeks ago where Jack is explaining how 21 works and what the first quote unquote product they offer is and how the first product is the equity. This is a joke. It's a joke.

If you're going to buy a Bitcoin equity, there's other options. You should just be buying Bitcoin. Don't try and rehypothecate. Again, the bar that this guy set for himself was so high. There was the year where he was doing the Bitcoin racing. I still remember he had a picture with that underwear girl that's also fucking vanished. Had the, you know, yo, presentation. He's buying a Coke at the fucking store with his Bitcoin.

And now here we are three years later and he's doing a loan product. Visionary, true visionary. Did anyone else? Oh, that's right. Everybody thought of a loan product before him. Okay. Good. There we go.

I hope everyone's happy. We are done talking about this guy. By the way, I know someone who worked for Strike and has equity in the company and is waiting for them to go public and it's every news release just tanks the value of that equity. Every news release, they can't get anything fucking right. It's ridiculous. It's ridiculous. And at 21, that company that is going to be accumulating, this seems to be the very popular thing to do. There seems to be a lot of announcement for companies.

Bitcoin acquisition vehicle, Bitcoin treasury company, whatever. These are the... seems to be the very popular thing to do, right? There seems to be a lot of announcement for companies. Bitcoin acquisition vehicle, Bitcoin treasury company, whatever, right? These are the... Yeah, the example from this week that is gonna highlight this and just tie you on it, this company called Vanity Coffee. Saw this.

Right, they are looking to be a Bitcoin first company by acquiring over $1 billion with a B dollars worth of Bitcoin using the MicroStrategy. They're a coffee company where 80% of their physical locations were either going out of business or out of business. I'm pretty sure. Did I read that correctly? Yeah, I don't know exactly the specifics on that. But yeah, I think they're publicly traded.

Of course. Do you know what their market cap is? Less than ours probably. No, I would argue that ours will be it's 1.4 million. I believe that's USD. Can we say could we sell this brand for a million dollars? I don't know. If these guys could almost 1000 X. That's their plan.

Who are the Bitcoiners giving these guys money is what I want to know. Joey, if we're worth a million, just hypothetically, this is worth a million. We just have to IPO, say we're going to be buying Bitcoin and it will be a thousand X. Then all we have to do is we've got to release the video. This company is going to thousand X valuation. Joey, then we got to put that picture of our- How many shares of this company do you need to retire? And we each have to have our faces of like the, of a surprise. Do we got to do like, like that? Like we just fucking-

We could really go hard If sailor can do Bitcoin torque then we can do some kind of like other Bitcoin word like I don't know Bitcoin Bitcoin drivetrain or something and you know, the trick is that actually all the Bitcoin we buy is just the drip that we get from The bull loyalty program. We're not actually buying anything It's actually the the shareholders buying the Bitcoin for themselves, and then we just roll it into the stock It's like this is the kind of shit you're seeing now You know like this does not make any sense. It does not make any sense that this is going on a coffee company I'm gonna go Bitcoin first like no you're not no you're not you're selling six out of ten

Drip over cups the people who are fucking hungover or late for work You're not getting a billion dollars for the Bitcoin. You're not Mark in the chat saying new Bitcoin new Treasury strategy. We will acquire 1 billion bit Like this is basically what they're saying, right? Like everybody's fucking It's the theme of the day right? Oh, let's fucking say something that's gonna splatter Thank you guys It's the theme of the day, right? Oh, let's fucking say something that's going to splat. Oh, how much does it matter? But it's so great. Thank you, guys. Paraguay. I'm not sure if you saw this is a funny one. I did. I did. Yeah.

Paraguay's president came out today on X saying that they're going to adopt Bitcoin as legal tender. As per Reuters, the account was likely hacked. Yeah. And they say the Paraguay's government came out saying that his account was trying to promote the trading of Bitcoin and presented some irregular activity on the account, which suggests the possibility of unauthorized entry, says the government in the statement. The possibility. Yeah, it's possible. You know, I can't really nail him to the cross because if the SEC's Twitter account could also get hacked like

Riley come on. I am NOT to put a fair way below that It sucks, you know, it sucks, but you got it you guys get a pass So, you know that initially when I I didn't realize, very recently, to like almost just before the show started that it was hacked. I kind of thought that this pump was no, the Paraguay pump. Well, what the fuck? There's like eight people living in Paraguay. Hey, they play soccer very well over there. They got more than anything.

What's their FIFA 14 rating? Paraguay's team. Is it in the 60s? I wouldn't even know. We'll have to check it out tomorrow on Wednesday. Yeah. All right. JP Morgan. Yeah. Looks like they're going to be allowing the use of Bitcoin ETFs as collaterals for loans. Love that, man. Love that. I just talked about this on Money Talks and it came out, not the JP Morgan product, but I just, I mentioned how as the ecosystem matures, you're going to see more options to use Bitcoin as collateral.

This is even better. You know, right now, like one step down from Bitcoin, obviously from spot. It's going to be only allowing at this particular moment. It's live apparently the Black Rocks ETF. No other ETF is going to be. That's okay. That's right. As of right now things could change right. All this really does it just allows for more leverage more bullshit right because you're going to be lending up your Bitcoin this collateral if it goes bad your collateral is going to have to get maybe liquidated. So potential new ways for people to make a bigger bet get wrecked all thanks to this fiat magic

Absolutely. Love it. JP Morgan Also allows other things for collateral stocks Bonds. Yep mutual funds. Yep specific ETFs. Mm-hmm real estate Fine art not an FE metals probably Precious metals and yeah a lot a lot of stuff like that. Yellow cake. If you have a little yellow cake, you can probably use that. So as Bitcoin tends to increase in value, the amount of Bitcoin that BlackRock accumulates, it's also going to be going up. And well, you know, it's just, you're going to get more Bitcoin. Right now, iBit has 660,000 Bitcoin

Right now, iBit has 660,000 Bitcoin in their reserves, I guess, whatever. As of the end of April, it was 572,000. So it went up almost 90,000. There's a lot of buyers, man. Those ETFs are popular and they're contributing to stuff like fees going down, probably the financialization of an asset as well like, you know, like I said to Mike And you and me have I think Varying differing views on this I should say I don't know if we a hundred percent disagree though That you this is what you're gonna get as people realize

This is a better asset than gold then stocks like people are gonna want this as collateral It's just the nature of the game. So there's gonna be good and bad. They come with that, but it's a sign of maturity more than anything else. Alright, this guy looks like he's matured a little bit too. His name is James Howells. This guy? No, come on. We're still talking about this guy? I think, well, briefly... We talked about this guy before probably like in the infancy of the show. Remember we did like, we had all these bad ideas for segments. Like we would do like the Bitcoin story of the week or whatever. And it'd be like, we were talking about this guy.

This is the garbage dump guy, Hells. Yeah, it is. Yeah. Yeah. Yeah. He is an IT worker from Newport, South Wales. So remember he's an IT. He was on the desk at the Bitcoin conference, by the way. Yeah. So he's, he was on the news. He's trying to make a push or was anyways. Well, okay. This guy claimed that 7,000 Bitcoin was in one of his hard drive, which he ended up trashing toss. He says his partner did it. Oh, whatever. Yeah

He has since given up this fight and but he's not gonna leave without squeezing every last Drop from this fucking lemon because a Los Angeles based production company has your acquired the rights to tell his story in a new documentary and it's gonna be titled the buried Bitcoin the real-life treasure hunt of James Howells. So that's why I say, why you haven't heard of the last of this guy. Who's producing it? Is it going to be done by Bill Simmons? It's called Bill Simmons to do it. The production company is a libel L E B U L. Never heard of him. I mean, I'm not, I'm the wrong guy to ask anyways, but you know what

he said at the Bitcoin desk at the conference that he was planning on buying the landfill. He's crowdfunding and buying the landfill was his next plan. But no problem. I don't think it worked out. I mean, this guy is like nuts. And by the way, all caps in the chat saying he's a beat cacher now. I didn't know that. Well, the one thing I wondered this guy is claims to be working in IT and IT worker. Yeah. If somehow that hard drive was supposed to be working in IT, an IT worker. If somehow that hard drive was supposed to be discarded, wouldn't it have it been wiped first? Like if I'm gonna get rid of something. Len, great angle, great angle by you there. Yeah, what kind of IT guy throws away a hard drive full of data? Yeah, where's the magnet? Get the magnet on that thing. Either he's dumb as shit or he's dumb as shit so you pick which one of the

two it is i'm gonna pick dumb as shit but i don't know it's this guy was going crazy about these coins in 2017 uh when the coins were worth 20 000 a piece you know you can imagine how much sleep this guy is losing now. Talk about key control and the importance of not your keys, not your coin. This is before hardware wallets, obviously. He had a little bit more of a slope in terms of his difficulty, his own personal difficulty adjustment. Could have gone a lot better for him. I feel for the guy. He's young too. I ever see the guy is probably like in his maybe early 40s. I would say younger than that.

Yeah, he's a young guy. It's tough. It's tough. He's aged a lot in the past of a while. Don't say that. That's a low blow. He's been in the garbage dump for the last 10 years. He's picking through things with chopsticks. That's exactly it.

Yeah. And is he just going with like a metal detector or is he like he's so he's okay So I don't know all the details, but I'll tell you what I've heard over the last like month or so That he's done everything from bringing in AI to come up with cleaning plans and he's brought in environmental impact groups to Help mitigate the quote unquote damage that you know, searching a landfill could do. He's talked to different groups from the city and different garbage management groups about

what quadrant is most likely to have this hard drive and all these different things. And the dump is basically just saying like, you're not turning the whole thing upside down. Like, I'm sorry, you're not doing that. And by the way, I actually agree with the dump because you don't want people just saying to you they lost something and having an avenue to uproot your whole garbage dump. Like it's not, that doesn't scale, okay?

You can't do that in a large population, a large hub, whatever. Everyone loses- You can't put this on the blockchain. Everyone loses shit in the garbage. Today during our bathroom reno, I was supposed to take off the old shower head because it's nice. It's like a new whatever with the thing that comes off at the top.

I don't know what the fuck I'm talking about. But anyway, I took it off. I took it off, but I left it in the washroom. And when the contractor came by, he's doing the demo and I Remembered I like popped upstairs and go. Hey, did you ever see the thing? He goes it's in the garbage. So I went into the bin to get it. Thank God I could I could you know I you could relate. Yeah, I'm basically this guy, you know, yeah Yeah, the part of the obvious because it's not a thousand my shower head was you know, it's $30 and his is you know

80 million or whatever You know what? It kind of reminds me ever hear that this story about this is going way back Atari when they Produced a game called ET which was a terrible game. Okay by a lot of people So what happened to overproduce no good Atari games, by the way, just warlords Yars revenge, there's a few good ones. Okay. Pitfall two, one anyways, ET came out. They produce way more than they could sell. So what did it end up doing?

They just buried it in a landfill. And it was basically, it was a legend. It was like a myth until somebody decided to actually go there to that. It was buried like in a desert in the garbage dump. They actually figured out exactly where it should be because based off, you know, where garbage would have been placed and they dug it up and sure enough, there were games that they buried.

It was it wasn't just a legend. It would turn out to be true. And they ended up like that. That's good. Some of those games that they dug up because people wanted them as collectors items. So I found it to be so it's very similar. Good for them. We got to get what's his name there? James Howell or whatever. Howard Scott Warshaw. That was a guy that programmed that. Yeah. We got to get this guy over start looking for some more game cartridges because that Bitcoin's gone, bro. It's time to

time to move on. She's over you, bro. She's over you. Atari still lives. All right this news this past week about a Californian bill made some waves Assembly bill this isn't this is in the thumbnail. I think this is a big story It can be it depending on how you look at it And people were speculating this bill could be a way for the state to potentially go after Bitcoin That's for sure left on an exchange. Yeah for three years and it's been inactive. You didn't log on to the exchange. You didn't do anything with that Bitcoin. You just bought Bitcoin three years plus ago and it's been sitting there.

So they say if no active ownership interest for three consecutive years takes place, the asset could then be deemed unclaimed. And if the state ever gets their hands on it, that means it will be put in a hold and not sold off, they say. They used to buy pallets of bricks for democratic protesters. No, that's in the private market. We're talking about this is public funds. So you're just going to hold on to this.

So they say that as you're just going to hold on to it, not sell it, it gives the opportunity to the customer to get access or get claim to their Bitcoin at a later date by reclaiming the asset. Since exchanges, a lot of them, maybe all of them, do KYC, claiming ownership of that shouldn't be too hard because all you have to do is present the right documentation, who you are, match it to the exchange and voila, there you go. But it does, I mean, if you do something like that, maybe it starts putting a target on your back because then you would basically identify it to the state.

Yeah. I fucking own it. This is exactly, this is exactly what I think you identify a wallet. Yeah. That's it. That's the big, that's the big thing here. Not, uh, well, the state's going to grab your Bitcoin. Like they might don't get me wrong.

They may. I think that's possible you know who doesn't want a hundred thousand dollar Bitcoin to just wind up in the state coffers because the guy hasn't logged in for three years right you know guy leaves the country or forgets his password or just is like I don't want to log in because I'll be tempted to sell it who knows but the big thing is that you are identifying private wallets when you force people to move their coins now I want want to know active ownership means this active ownership means signing into an exchange account or yes mean, okay So that's not quite identifying a wallet But I think this is probably the first part of a number of these different

Attempts we will see to eventually make it to identifying a wallet and this is what people want me and you talk about this all The time you have to have good wallet identifying a wallet. And this is what people want. Me and you talk about this all the time. You have to have good wallet security anonymity for some of your Bitcoin. I think this is very important. Whether you're using a mixing service, whether you're doing cash buys, ATM buys, bull Bitcoin had the post office cash option for a while. There's ways to get KYC free Bitcoin and you should have some. That's number one. Number two though, Len, when you start identifying wallets, it's not just the wallet you send to that's identified. So you have to know that as soon as you start to log into these things and send stuff around, there's a whole wormhole that you're potentially going down in terms of exposing your privacy on the Bitcoin side.

So how do you do something about this? It's a good question. Your privacy is something you have to manage early and often. And if you lapse, there's no getting it back. You got to start fresh, right? Start with a new wallet, start with a new set of keys, whatever. But if you're not, yeah, if you're not, if you're not logging into an exchange every three years with the hopes that you're kind of laying low, that's gonna change. How much Bitcoin you

think is on these exchanges longer than three years? Because if you left your Bitcoin on three years, the last three years or even the three years. Because if you left your Bitcoin on three years, the last three years, or even the three years before that, like significant price appreciation, right? So I gotta just say it's leaving it on there and doing nothing, not logging onto the account. I know. I know. Like essentially just, so I'm not sure. I think it's a rather small number in the grand scheme of things. I think there's a lot of people leave their stuff on the exchange, but they're probably active. They're going on or looking at the price. They're looking at what the value is. And so in terms of, I do know one individual though

that bought Bitcoin on Coinbase many years ago and never recovered it. And I told him several times, you got to do it. And I think he might've went through the process not too long ago to get it I'm not sure never recovered it what do you mean like it's never just he just left it on there I was like okay and I don't know the exact amount I didn't want to know but still it was this was like many years ago he bought it it's enough now to yeah even when the price even when the price hit a hundred, like you and me over the years, this is as bad as my op-sack will ever get. You and me over the years have put like minuscule amounts on different wallets that have been

sent our way or different wallets we picked up. And like I have a bunch of those shitty wallets lying around here. It was almost a thousand bucks, all those wallets. Like if you have corn on the exchange from 2013 or 14 like I Mean you're doing great if you have a coin base account that hasn't been touched in a decade and I just some It's baffling to me that people don't care enough to sign in like you said, I know that's a low bar It's a low bar. Yeah, and then once you sign in, I always tell people gotta take it off. Gotta find a way to secure it. I hate ledger. I think it's shit, but you know

what? Ledger is still a step in the right direction compared to just leaving it on an exchange. Go offline, sparrow, generate a seed, and then write the address out in pen, whatever. There's ways to do this. Just the exchange is low, low, low on the level of security and possession. 90% of the law is possession or something like that. You want to have it, man. You want to have it. You don't want to be fighting with them over it just because it's got your sign in at the front door. Another Bitcoin ETF may become live in a very near future. I am kind of perplexed about this.

It's not just from anybody. It's courtesy of the president's Trump's Social. That's right. They filed a prospectus and it just took a look at it. And it looks like they're going to be using a custodian, of course, just like every other ETF would. Forrest Dax Trust, aka Crypto.com. I thought these guys were going to go tits up in 2020, 2023, but they ended up managing now they're fucking going to be securing this.

And with respect to this ETF, who the fuck cares? I don't know why anybody was making it, but some people were posting the big things. It's a shit, sir. I agree. I, uh, I have just about had it with this administration and it's antics. So yeah, not, uh, we'll talk about that in the next one. I'm sure.

I'm sure. Yeah. All right. That's the end. This Bitcoin side. I hope you all enjoyed it. And yeah, I think we went a little bit long in the first segment, which's and this Bitcoin side. I hope you all enjoyed it and Yeah, I think we went a little bit long in the first segment which cut into our Bitcoin talk But so the latter half of this show the second part I think it's gonna be fucking dynamite if the first part wasn't done with the second words

We fucking straight happen if it's not He's gonna be a skid of bricks. So strap in and we'll see you on the other side. Yeah, don't be a cock