The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Czech Nat'l Bank Adding Bitcoin, US Sells BTC, DIE on Fire in California | CBP 198 Pt. 1 (Bitcoin Podcast)

Episode Date: January 14, 2025

FRIENDS AND ENEMIES The Czech Republic WANTS BITCOIN, is that a big deal? We investigate. Also this week, California is on fire but at least the fire chief is a lesbian, the DOJ wants to dump their coins (again), $META looks at a Bitcoin position, Doug Ford pitches Fortress AMCAN, and much more! 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.com ⁠Discord: https://discord.com/invite/YgPJVbGCZX A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This 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. 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 $20 bones, and take advantage of all Bull Bitcoin has to offer. D-Central Technologies - https://d-central.tech/ Your home for all things mining! Whether you need a new unit, a unit repaired, some support with software, or you want to start your own wife-friendly home mining operation, the guys at D-Central Tech are ready to help. With industry leading knowledge and expertise, let the D-Central team help you get started mining the hardest money on Earth.

friends and enemies today cbp talking check central bank we're talking meta we're talking bitcoin we're talking economics my name is joey that's len buddy what's going on good to see you how are things i'm good where am i am i could you hear me okay yeah you're frozen now your picture's frozen but i can hear you i don't know why i'm frozen i'll come back in a second i'm very good joey okay good yeah this is odd that my audio is here but my video is not anyways whatever yeah yeah well it's good meta talk about meta why are we talking with those clowns oh man i i keep on seeing these uh moon boy channels talking about meta is going to be the next uh the next micro strategy it's it's you know it's all the same i i commented today that looks like all these other channels using the same like title and thumbnail generator with

zuckerberg on there getting hyped about uh his company buying bitcoin or whatever yeah we'll talk about that in a bit i mean come on like if people are gonna fall for this garbage again i mean it's not like we haven't gone through this not too very recent and then whatever. We'll jive on that just a bit. Totally. Let's do the sponsors first. Easy DNS, you guys know and love. Mark and the team,

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France is getting the bull Bitcoin love. So love to see that. 21 bucks. Latin, we have one other sponsor, Decentral Technologies. Are you running your BidX? Where is it? Is it just off camera? It's right here.

Amazing. Lots of people taking pictures of their cvp bid axes there's none of those left but you can still buy a bid axe unit if you like they're cheap it's a good way to get into home mining and i think maybe the most important part is the decentralization of the mining network and the hash rate we've seen a significant jump in hash power the last year or so you got to expect that to continue and if you want to contribute to that then decentral tech is a place to do it bid axes s19s s21s you want to get a board repaired if you want to contribute to that, then Decentral Tech is the place to do it. Bidaxes, S19s, S21s, you want to get a board repaired, replaced, you want to talk to somebody who's an expert in mining, this is the place you can do that too. And of course,

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No better time than the present. Again, I feel like I'm saying that for both sponsors now, but truly like you're at this point of Bitcoin's inflection where uh the likelihood that this gets any easier to do in terms of home mining and hitting the lottery probably not a len we're it's getting harder every single day it's a challenge to do that to win it all so with the bid axis there's two different possibilities really you could do one you could join a pool and get your trickle stats per day and i think you'll probably get around 100 i could be wrong um so if you're happy i'll tell you i'll tell you right now i'll look it up i think it's like 80 or 90 you get at least on brains that's i'm on brain school um so i'm really close with that so you got you know you're 80 to

90 a day which you know some people may like or you just roll the dice every 10 minutes you're going to be in the the lottery to win the whole thing the whole enchilada and that's the way i think it should be done with a bid axe just roll the dice you probably won't win but who cares at the very least you're providing some security to the network you're not a bad actor and you're mining and you're getting involved in the whole bitcoin ecosystem so bidax is not a way to go totally totally let's do some boosts yeah so boosts we have number one d's laughs at 123 sats and he says great episodes as usual i put you two on some upcoming music I'm working on. That's interesting.

You can do that. Keep stacking those stats, people. I agree. Keep stacking them one way or another. Again, if you're using Bidax, you can stack it on a daily. If not, just keep DCAing. But then don't forget to consolidate your ETXOs at the end because you don't want to have a whole bunch of small ones, especially when the fees go up.

What kind of music do you think we're going to get on? I have no idea. I couldn't even have a clue i mean would you have like just i don't know man i'd love to hear it though it'd be very interesting to hear but all right wartime 333 sats he does a fire emoji with a couple of beer mugs doing the cheers love it more four times always like just giving us these emojis and jair 1000 sats he says thanks boys you're welcome jair you're welcome jair yeah appreciate you buddy and that'd be all that's all okay uh a little housekeeping we got an episode coming out wednesday who's the uh you did an interview on the weekend i think right who was with yeah tony um so we're releasing that on because we have two this i don't even know what the schedule is we're so late we're gonna i'm gonna pull the calendar up but yeah we're gonna be on a bit of a weird schedule because uh i was a little too enthusiastic

booking guests as i started to return from uh the of my newborn here. Let me pull up the calendar. I will say we have some. Yes, Beck, he's he's a Lebanese origin and a very interesting story about it's a cautionary tale more than anything for people out there that have their money in banks and thinking that their money is going to be secure the dude was rug pulled of his life savings he he was living on easy street and retired and just you know enjoying life as what's being offered to him and just a few short years ago october 2019 if i recall correctly was when things went sour over there and his life savings was just evaporated. And he got into Bitcoin.

He's a great speaker. He's part of the Bitcoin way. So he's trying to educate people and onboard them into Bitcoin. Love that. I've listened to that one. The other interviews. Okay, so I hope everyone's sitting down. We have coming up on Wednesday, Francis Pouillat, CBP corporate, I guess, Bitcoin founder. He's a fan favorite. We'll be talking to

him 7 p.m. Thursday at 2 p.m. Eastern. I'll be talking to Mark Repito, Do Your Favs. Okay. I don't know if you guys don't listen to the Starting Strength podcast. You should. It is Bitcoin adjacent, even if they don't know it. Recent edition, we just got an email last week, I think, Aylan, on Friday from Mayor Ken Sim's office in British Columbia. So we're going to be talking to Mayor Sim the 21st, next week on Tuesdayuesday 7 pm i'll be doing that one as well the 22nd i'll be talking to phil back who's a uh market commentator on twitter i've heard him on a few podcasts including qtr's podcast he's a he's a favorite of mine we followed each other for some time i have btc bap coming on the 29th uh he's the lead or one of the leads of the bitcoin space in denver we have john rubino on the seventh if you guys know dollar collapse which is now run by mark john and mark were partners in that

endeavor once upon a time and then on the 12th i think i may do a double header again i'm i think i may have the bitcoin coalition so scott wolf will probably come to the studio that day for a show and then at 7 p.m right, I have tentative on my calendar here, Rich Diaz and Keith Dicker from Ice Cap Management and the Looney Hour. So, yeah. No rest for the wicked, eh? You're just going right into it. Is that what you call that?

I think it might be. Yeah. So just be very careful when you do too much, Joey, because there's a lot of time ahead of us. So don't kill yourself in the short term. But some very good guests. Yeah, definitely. Can't wait.

Can't wait. Okay, where do you want to start? Should we start with the Czech Central Bank? I feel like that's the main story. No, no. Can we go somewhere else? Let's do the meta thing because we touched upon it at the beginning of the show.

Let's just tie this one off because this thing is i don't know why it's getting traction out there because you know i know i know why go ahead well whatever first we had microsoft and now we have well amazon's kind of in the works but meta right like you know it's getting a lot of buzz because it looks like they're talking about well there's a proposal that's being uh sent to shareholders out there for purchasing or at least looking at the option for meta to buy bitcoin and remember microsoft did this not too long ago and that vote was trounced i forget the exact number was it 99 or 98 whatever it was like watching the the generals yeah it was it was just brutal right so the funny thing is though there's one commonality with all this it seems like the same person has

been proposing this for all three companies the same person has put this for this proposal forth with the shareholders name is ethan peck and he's an employee of the National Center for the Public Policy Research. And he has to be a huge Bitcoiner because if he's asking for first Microsoft, Amazon recently, and now Meta to buy Bitcoin, at least look at the option to buy Bitcoin. This guy is at least raising awareness for Bitcoin to Wall Street. Are they going to do it? Is Meta going to buy bitcoin i you know this guy is at least raising awareness for bitcoin to wall street are they going to do it is meta going to buy bitcoin or at least talk about or examine it hell no it's not going to happen anytime soon will it ever happen yeah for sure it could potentially happen within the next year too nah i don't think it's going to happen this is just a lot of buzz more than anything good good

pr but in the end it's going to be just nothing burger who's a good pr for it just gives more um more recognition more news on bitcoin and if you have a company that's talking about at least the idea of adding it to treasury it's not like it's a small company or a private company. This is one of the largest companies out there. And just the fact that they're going to vote on it, the vote is going to be, it's going to be a slaughter just based on history. I think it's good to have a little bit of recognition for Bitcoin to see, yeah, this is something that can be added.

And I would say should be added to all balance sheets out there. And the fact that it's an alternative and something that should be considered i think it's it's pretty good and people are talking about it at least for the time being yeah um the reason this is even on my mind is because when i go on twitter and youtube all i see is every channel every you know quote unquote bitcoin podcast talking about the same shit all the time and using the same thumbnail generator and using the same title generator with like the one all caps word you know is is meta going to be the next micro strategy of course fucking not

like don't be retarded um like as bitcoiners we have to do better than this now. This is like a legit asset class at this point, Len. It's something that more and more people are looking to in terms of savings, in terms of diversification outside of traditional markets. Hell, even in terms of buying Bitcoin instead of owning a home. A lot of people are renting and buying bitcoin instead of paying a huge mortgage at uh you know local high rates anyways over the last 20 or 30 years 20 years maybe the the way that we talk about these things is important now because there's a lot of eyes on us and i've said this before that we have a job to do as content creators. And that job is to be rational, reasonable, and realistic.

And what I see instead is some of the biggest names in the space trafficking in some of the lowest IQ currency available, and that's views and clicks. It's frustrating to me to watch this happen. And when I think about our own channel and some of the other stuff we've done over the years, I'm really proud of the content we put out because I think it's well thought out. And I think it's highbrow, higherbrow than it needs to be or higherbrow than it could be if I wanted to get 50,000 views a video. But it's high signal. And, you know,'d look for good stories you do such a good job finding stories and we talk about them in a way that makes sense and try and draw uh rational

lines and rational outcomes and rational um you know we try to have a rational discussion about things instead of just predicting one million dollar bitcoin every week and when i see this story like you know we've already gone through this once. You already posted the thumbnail of the MSFT is going to be the next MSTR. And now it's the same thing with meta. This guy's an activist. And to your point, Len, you're 100% right. The likelihood of this happening is basically zero. And Zuckerberg is a Bitcoiner, by the way.

But he controls the shares in a way that he basically has full power over the direction of the company. And I think that he even baked in something so that his kids have full power of the company if something happens to him and his wife. So the likelihood that the board or these shareholder votes are going to do anything is insane. But again, these other people who are talking about this have done zero research on the nature of the relationship between Zuckerberg, the board, the activist, and something like a Bitcoin treasury strategy. So keep that in mind.

Getting your hopes up is OK. Being optimistic is OK. Like Glenn said, there's some good that comes from that kind of PR. But be reasonable and rational because that's how we draw in the best people to Bitcoin, not trafficking in sort of low IQ nonsense. Remember, you jogged my memory when you're talking about Zuckerberg and Bitcoin. And it was, I think, four years ago, it was reported that he purchased a goat. And he named it? Bitcoin. Oh, Bitcoin, yeah, yeah.

I thought, like, what happened to that goat? Did he end up eating it? I would love to know. Want some closure on that story. Don't leave the hangar open. The only thing I will say is that I'm going to take a victory lap on the Zuckerberg combat sports weightlifting and his turnaround in terms of his public stance on censorship and adjacent topics.

I saw him on Rogan. I listened to most of the episode. I haven't listened to the whole thing. But when I saw him, the first thing I thought was, this guy's not quite at the 225-pound squat, but he's well on his way. And I think you're going to see more from these guys. And I know a lot of people, I was listening to all in, for example, and all those pencil neck retards are saying, oh, he's just doing this. You know, the political winds are blowing this way maybe, but he definitely wouldn't have done it if he wasn't starting to change the way that his body uh his body is composed and whether it's you

know trt or whether it's just the weight lifting or whether it's you know the rehab from his acl injury all these things build a certain character in people and you're seeing that with zuckerberg and i think you're going to continue to see it as more ceos go direction. There was an ETF. Remember we talked about it on the show of CEOs who have posted deadlift videos. And Zuckerberg, I don't think was on it, but there was a few guys who were on it. And that ETF, I think it was imaginary. I don't think you could actually buy it. But that ETF was really, really well performing. And that's just, it's just a metric that's good. You know what? but that ETF was really, really well-performing.

It's just a metric that's good to see. You know what? You don't agree with this thesis? It's very DEI because you're looking at what is DEI in terms of what does it do? I know we're going into the weeds here, but what's the beef that people have with DEI? That it doesn't pick based on merit correct yeah that's it it's based on a a particular metric yeah characteristic whatever it may be yes i mean does lebron squat 225 yeah does kaepernick squat 225. I mean, I'm sure there's, and I'm not looking at that. There are people that are physically well off.

Like they're very good. They're built well, but they make poor decisions. And at the same time, there are very smart people that make poor decisions. It's not what you have. It's not a DEI thing. It's the body of work.

That's what matters more than anything else i don't give a shit about any of this i just want to see the proof in the pudding we're gonna see it doesn't matter if you look like this you talk like this you think like this the proof is in the pudding man that's what i predict that uh this this will continue to play out over time that the people who are most supportive of bitcoin will wind up being the people who take the best care of themselves. It'll be a side effect or a symptom, or maybe it's a chicken and egg situation, but it's going to be a correlation. And I think you already see it, but I was happy to see Zuck looking like he's a big

fellow there. He had one smart fellow in the chat. It's reverse DEI. That's the thing I agree with. But- It's still the same thing. You're just picking it on a particular characteristic

it's not based on merit it's based, you know I wouldn't want LeBron on my team even though he's a great player I wouldn't want Kaepernick on my team even though he played very well a few years ago and there's reasons why I wouldn't want them I would look at the body of work and say you know what, I'd choose that individual

and here's why, I could give you a host of reasons i don't care what they do this or that body of work is really what matters plus we just talked about the uh on axis of easy that ai stuff that's the ai chats like in meta like that's going in the wrong direction right like ah whatever meta didn't we have a meta bull in the past um what was that guy's name it was in uh young money capital i got a job in finance and i did a ban on his twitter account pretty sure whatever let's talk about the czech republic and their national bank that it's making news and for bitcoiners this past week and i i think you know the idea of them adding bitcoin to their balance sheet sounds wonderful because you have their governor is his name is alice

mikhail i think i must have butchered his name altogether. My check is either way. Alishan, my apologies for saying your name incorrectly if I did. The idea is that they'll add some Bitcoin to the central bank's balance sheet as a foreign exchange reserve. This is just an idea right now. It's being thrown around. It looks like the board itself, which comprises, which I believe of seven individuals, they may not be all in favor of this, this move. So you might have one individual that likes it, but it has to be a collective, collectively figured out type of move.

So it's not going to happen. But one thing they are going to be adding, it looks like it's going to be gold. Gold is something they want to put under balance sheet. So want to have hard money they're halfway there if you're going to add to your gold reserve why not get bitcoin as well granted you know the price goes up and down way more than it does the price of gold but it's only 16 years old so you're going to expect something that young to have some you know know, going up to the nouns. Still, in the end, they're getting closer. You have prominent people sitting in prominent positions thinking about or talking about Bitcoin.

Again, another good thing. It's getting a lot of good news here in terms of will it happen? I think that it's probably going to have the same thing that with Amazon, with Microsoft microsoft with meta new it's not going to happen good idea but reality it's not going to be executed so they're going to at least for the temporary they'll be have fun staying poor so let's see what happens yeah i mean do you do you think that there's a question here that needs to be answered or at least considered by Bitcoiners? Do you want central banks, national banks, any bank really holding Bitcoin? Do you want that? Is that what you're after? No, it's for friends and enemies.

I don't care who buys it. I don't care who holds it, who sells it. You could do what you want with it. It's an asset that is freely available. It's truly a capitalist system. If somebody wants to exchange their money and buy Bitcoin with it, all the more power to them. It's not like you could alter the network. You could change the network.

You could influence it. It's just like buying an asset. So they do it great. If not, great. It doesn't change my life whatsoever. The next few years nothing changes so personally i hope they kind of i mean actually i'll say this i kind of hope they don't buy it because i don't want the price to go up yet right right i have no influence in this

wherever it goes they want to buy all the more power to them yeah you know i kind of think that they're not talking about adding Bitcoin as a huge percentage of their total assets. I think the quote was like, I just want to add a few Bitcoin or just a couple of Bitcoin or something. I mean, that's probably translated. If they had one sat, one fucking sat and claim that we own it that says something it's not like we confiscate and they wouldn't confiscate it it's not their their position but the own one side just one i think that's a bullish move for bitcoin yeah it's equally as bullish not to buy the one side because you know the other thing is with these banks like if i look at their balance sheet if i look at their treasury assets they have stuff like sdrs which we've done you know episodes on that was years

ago now but the um i am a special drawing rights certificates they have stuff like um uh gold as you mentioned they have stuff like foreign reserves they have stuff like foreign reserves. They have stuff like the IMF reserve position, too. They probably have... You have all these other puzzle pieces that fit into what a modern central bank looks like or is supposed to look like. If you buy Bitcoin as a central bank, what is the likelihood that all your other operations go on untouched, or all your other operations go of go on untouched or all your other operations go on uninhibited or all your other assets go on unencumbered? It's not 100%.

We've seen this already, that when you kind of upset the order, there are people in high places who will make it their mission to make your life difficult. And the Czech National Bank, God bless the Czechzech republic but that's not exactly a you know superpower so is it talking in the chat i don't i see you guys talking in the chat there but like great czech hockey players definitely was some good there was some good times uh were some good times for czech republic hockey but um is it in the g7 no i don't know g20 oh fuck who knows i'll look it up i have no idea but it's a stable government it's in the eu powerhouse it's more so than a lot of other countries out there it's not in the g20 not in the g20 the one thing they for me the metric here that say wow this is a step in right direction would be the the laws of the land in

which you could spend bitcoin without being taxed right it's accepted as a currency the same way they accept the u.s dollar the same way they accept euro canadian dollar where the fuck you could spend over there that is like wow you can look at that as a huge move in the right direction this buying the news of buying all this shit it's i think it's more fluff more than anything else it's the acceptance of it being a currency then you could use it as a medium of exchange and you can encourage people to use it as a medium of exchange but until then it's too bad just there's nowhere out there aside from el salvador yeah and you have the private uh entity and they're sliding away right they're

sliding the other direction a little bit yeah at least you can't pay your taxes in it like you could convert it to fiat somehow and pay like that like i mentioned before but really this is what we need we need it to be a medium of exchange so some countries out there is going to have to step up and say look let's not tax this the same way we would tax a commodity like gold. Let's deal with this like we would any other currency. Anything to add to that here? I think you're right. I think you're right.

I just see the answer. The question just continues to kind of stir for me, right? Like, are we going to support central banks and taking these actions and going toward Bitcoin countries doing it? The reserves, the strategic reserve is going to be the first example of whether or not,

first of all, the market price likes it, likes this kind of activity or doesn't like it if it doesn't happen. And then after that, we're going to see what else happens the commentary around stuff like the reserve has been the u.s is going to be the first country to do it but others are sorry the first country to announce it but others are already doing it so i don't know it's it's all it's all very fluid at the very least and i think that there's at least some

chance that like the like the czech republic is in the euro zone so like like that's that's a that's a whole different set of models you have to consider when you're making a decision about whether or not to put bitcoin on your balance sheet just because the euro is weaker than it's probably been in the last 10 years right now so you know it went under uh a dollar at one point like just briefly so now it's like 105 106 so like like relative weakness is pretty high over there right now just just on on the whole right on the aggregate whether it's your energy whether it's your economics whether it's your military it's kind of you know it's it's a tenuous tumultuous kind of situation and for one of the countries in that eurozone to add bitcoin to its balance sheet i don't know i think it's possible as of today yeah and it dropped in the past. Yeah. It's going to get below parity. I think it's only a matter of time.

Yeah. Well, everything is suffering hard against the United States dollar. Yeah, totally. And I don't want to talk about shit coins, but I think we have to at this particular moment, Joey. And I'm talking about the newly launched Trump trading cards that are there in inscription garbage. We're using the ordinals thing.

So Trump was mentioning that this, these are what he called limited edition cards, right? Limited edition. So this picture is one of a kind and they feature amazing art of his life and career at, as long as there's no Trump university card that is available he's it's not truly capturing his whole life so until that's done this is just a snapshot of his whole life

more than anything else not the whole thing but remember he was talking about the strategic bitcoin reserve as something he wants to do i'm not sure if this trump card is part of the whole plan that he envisioned but here we are and the hoarding of these trading cards these digital trading cards I don't know if this is the way the United States is going to start preserving their wealth I hope they don't go down this path before they start buying bitcoin but I don't know who the fuck wants to be part of this when you could hold on to a scarce asset like Bitcoin. And the sad thing is the only way to get these things really is you have to use Bitcoin to get it. I don't know.

Ninety nine dollars. They're saying USD for each of these. This stuff is dumb as fucking shit. Who's advising them? I don't have a fucking clue. What are they trying to obtain or achieve from this aside from padding their pocketbooks? Nothing else. That's really it.

They just want to pad their pocketbooks. So fucking done. This is so 2024 or 2023. I forget when the ordinal was. Three, for sure. Two years too late. And you're bringing it shut up now just mere days before you get fucking sworn in.

Give me a fucking break. Have you seen the very generous silhouette that these ordinals are giving President Trump? I mean, this guy, this is a guy who squats 225, but the president does not look like this.

I wouldn't buy that. If it was offered for free, I'm not fucking kidding. If anyone wants to offer this, I will say, fuck you, no. I do not want this thing. Fuck all this garbage. It's absolute trash.

It's just polluting the fucking blockchain. What else can I say? I don't know. I don't even know. What is Magic Eden? I just googled this, and this is what i don't even know what is magic eden i just googled this and this is what it came up so i have no fucking clue and i i don't even want to know about it it's what i i know enough about it that it's a fucking scam right yeah but the sad reality is this whole

bitcoin strategic reserve or strategic bitcoin reserve you think it's You think it's a no-go. We were talking, you, me, and Mark were talking in our chat today, and you think it's not going to happen. You think it's a... The likelihood of them... You've got to define it first. The likelihood that they stop selling confiscated coins, I think, is close to 100%. The likelihood they

buy Bitcoin, that's a totally different beast. And I think that's a lot less likely but i'm not sure it matters honestly i think that just the just the signpost is enough well how much bitcoin do they own right now that micro strategy owns more than them yeah for sure when i say sorry united states holding bitcoin from the government yeah the government yeah and they're going to be selling almost 70 000 they're trying yeah they're fucking trying yeah they may have already sold it joey oh we had a well who

knows this morning yeah we did have like a five percent drop in like four or five hours yeah yeah and it's not if you go back well let's just let's just lay the fucking table here because the department of justice made this move some time ago december 30th so it's not like it was yesterday or the past week it's been a couple of weeks ago that this came it was a northern district of california that they decided to give the green light to go ahead and start selling these almost 70 000 bitcoin this was seized in 2020 california been spending their time and energy on anything else? Or I guess they're pretty, they don't have much going on over there right now. So I guess this is something they can spend time on.

It's a good way to divert attention away from everything else. Give people masses to cover up the smell of the smoke. So 20,000, sorry, 2022, sorry, 2020, my mistake was this was seized by some unnamed hacker. It didn't say who was the person that they seized it from who the heck knows could have been satoshi for all we know probably not um so the delay was of all this it was supposed to be seized they seized bitcoin supposed to be sold some time ago but this company by name of battleborn investments and it's a nevada-based venture firm and they they said they had a claim to this

bitcoin so until that claim was heard through the courts and it turned out that they don't have a claim to the bitcoin that now they could sell it so for whatever reason this battle born investments they their claim to this whole bitcoin delayed everything a little bit so they say that these coins can be traced back to the silk road and if you want to go we talked about there was some the price action today in bitcoin it went down a few thousand dollars right we didn't go under 90 close to it but we did we went under 1895. oh we did on it i slipped my wrists so germany sold around 50 000 bitcoin last summer the cell pressure was very noticeable during that time. And that was 50,000.

This, what they plan to sell is almost 70,000. So it's slightly more or significantly more Bitcoin that they're going to be selling. So the price movement as they sell this, you're going to expect the price of Bitcoin to really be impacted by it, regardless of the fact you have these ETFs out there, regardless of the fact you have micro strategy buying on a weekly basis. That's just a lot of Bitcoin that they could dump on the market in a very short period of time. And they could do it right before Trump gets into power and make sure that the cupboards are bare and there's nothing in it for him to use as a strategic bitcoin reserve some people are speculating the timing of all this i was one of

them too but until i i got a little bit deeper into this and i figured out that this was all delayed because of this company named battleborn investments because they put in a court challenge i can understand why it was delayed until now. If they weren't in the picture, if they didn't put this court challenge in, this would have been sold a lot earlier. When? Certainly not now, slightly before Trump being elected.

So yeah, tinfoil hat guy, I'm wearing it, but it's not applicable here. Do you think it's political that they're considering at least not only dumping, but dumping and trying to move the price down? This is the thing. It's one thing to dump, but it's another thing entirely to like, at a time where you just lost an election, at the very least in some part to the crypto crowd, you're not only dumping the coins, but you're trying to destroy the wealth of that same group of people. Even though a couple of Democratic operatives have noted in the last month or two months

since the election that that was a crowd they should have pursued, should have coveted the support of a little more. These guys, they just don't get it. It's unbelievable how obvious some of this stuff is, how easy it would be to win on some of these issues, on some of these key inflection points. They just refuse to do it. They refuse to take it seriously. They refuse to make the right decisions.

They're doing it. I don't know. Is it pure incompetence? It can't be. It can't be. They're spiting not only the incoming administration, but a huge chunk of the public who voted against them in the general. This is par for the course.

Historically, whenever they have seized Bitcoin, they don't burn it. They sell it. Just like if they get a car or a house or whatever, when they seize it, they are auctioned off. So this is just par for the course it's i don't think there's any malicious intent here or it just it's just protocol it's what they do they don't care yeah yeah yeah that's why i when i looked at the timing remember initially i thought fuck this does it looks like they're really trying to screw over trump and maybe bitcoiners by doing this just

before he gets sworn in. But again, that court case was the whole reason why this was delayed. And even if that does drive down the price, let's just figure out, let's play this timeline out. Okay, they do decide they are going to go ahead with a strategic Bitcoin reserve. They're going to start stacking Bitcoin, keeping the one they have and even buying some more. Wouldn't selling it kind of make it easier for the united states to buy bitcoin then because the price goes down and they could buy before anybody notices anything and they just add and then oh we bought bitcoin

and the price just absolutely shoots up so they could actually buy more by going about this because you could really drive down the price a little bit and then buy back on cheap but i don't think it's going to happen that's just no i don't either yeah i don't either that's an alternate universe that i don't think it's gonna it's gonna be playing out we're seven days away from that new administration coming in and i see stories again like the timing of all this is interesting right you have the sale on one side it's become public it's being talked about and then you have a leak it's not even really a leak it's you know david sacks and other people being

quoted by certain media outlets that there's going to be crypto you know activity on day one and it's a high priority item like i i these these are two competing factions and to your point about what would it make it easier for the u.s to buy like maybe but you know you mentioned there the sort of infinite bid from mstr the infinite bid from the etfs a lot of people want to buy that stuff and actually zero hedge does a really good job noting every day how much BlackRock picks up during those 10 to 11 a.m. price slams that we basically see. They're programmed at this point. So there's a lot of buying going on.

And that's another player in this whole thing, right? Is ETF providers, ETF holders, do they want cheaper Bitcoin? It's an interesting time to be a Bitcoiner. We never had these discussions two years ago. But now it's not just us talking about retail buying. It's like, which government is buying? Which government is selling? Which government is trying to nuke the price?

Which government wants the price to go up? There's lots of stuff that's going to happen in the next month or two. And I think that the Trump inauguration in a week is going to be a big moment. You got a price prediction for that day? Not a number, but do you think you're going to see a significant move up or down on the day? Yeah, it's going to move up. I suspect leading up and even shortly him being sworn in, there's going to be a rally with Bitcoin. And then the expectation,

or at least some people are expecting to hear something to do with a strategic Bitcoin reserve. And when nothing is heard, I think that's going to be a letdown. And there's going to be a massive pullback. It's not going to change my strategy though. I'll be honest. My strategy is always the same.

If when I have extra, I buy, I don't care what the price is. Yeah. But I think that's what's going to happen. One thing they can do if they really wanted to add Bitcoin to their balance sheet is they should just simply accept

Bitcoin for taxes. If they do that, if they say, you can pay your taxes, your income tax or any other federal tax that's easy to pay, and they say, we'll take Bitcoin. They could do that, accept Bitcoin and just keep it. Right.

They're running a deficit every year. So it's not like keeping that and not accepting cash is going to change anything in the end. The deficit is going to be very large regardless if they do this. But that would be one move. They could do that and they could just without buying they just through other people's actions start collecting bitcoin i don't know how many people would want to pay their taxes in bitcoin and not many not many gresham's law right you'd rather because as soon as they take bitcoin for taxes it makes bitcoin even better money than it is now it's already superior money to the u.s dollar in terms of like it's you know monetary properties as soon as they add that to the list

less less and less people will want to get rid of it yeah perhaps but even if you have a small number it's a small way to start collecting yeah a little bit of bitcoin here i agree i agree you're not going out there you're not buying it's just simply we're not we're just taking another uh asset rather than cash or digital cash whatever in your bank when you pay your fucking bill your taxes will take bitcoin that's what they should do and could you imagine there's a transparent ledger you can see how much bitcoin they have it's unprecedented right for government incredible yeah yeah now the question is would they host it would they hold on to their bitcoin themselves or would they fucking use fidelity coinbase or

some other you already know the answer buddy it's not going to be fort knox it's you know they have supposedly a whole bunch of gold under there why not just put you know a computer there couple cards start collecting you know btc pay server start collecting You know, a computer there. A couple of call cards. Something. Start collecting, you know, BTC pay server. Start collecting. Right? What the fuck? Oh, God.

So let's talk about some new options out there for people who want to do mining on a budget. Like we talked about. And here's the Bidax that we have here. People should buy that, by the way, from Decentral Technologies. There's now the Avalon Mini 3 and the Avalon Nano 3S, two different beasts that have been released. The Mini 3 delivers 37.5 terahash per second at 800 watts. So for people doing the math at home, that's 21 joules per terahash. Not too bad.

The Nano 3S is 6 terahash at 140 watts. That's 23 joules per terahash. So that's more comparable to a S9. And the Mini 3 is comparable to a modified S19 that you can just plug into your 110 and go ahead from there. So there's a video out there that shows off the mini 3 and how it could be used as a space heater it's really slick the design of this it looks like a functional and ergonomically very nice like it looks very cool the space heater yeah yeah like this it not just the the looks of it but also there's the smart temperature control and quiet night setting

mode on it so it's not just running 100 all the time it's able to adjust itself based on the temperature and also if you want to sleep quietly it gives you the opportunity to put it in a quiet mode really cool stuff the price of the mini 3 could be rather steep i did some searching it looks like it's going to be around 1k usd for the unit and the nano 3s looks like it's going to be around 400 usd for the unit but those seem to be unofficial prices right now don't know if that's going to be straight from avalon i don't know but either way it's really cool to see that there's options like this. And it's you know, the bid axe is making a mark in the whole industry because people are buying this and using these a lot. Not to say that this is going to make up and take a bite out of the bid axe

market. But still, people want to mine at home, people want to mine and heat their homes. And people don't want to deal with the hassle of noise excessive electricity heat shit like that but people want to heat their homes right so i i like this a lot of options it's just going to make coal mining even more easier to do and this is what we want we have to decentralize the mining game just looking on amazon here the avalon nano 3 so not the 3s is 372 dollars shipped in canada that's not bad you can get the old one if you want uh 140 watt yeah it's got everything on board here this is great i think this is fantastic especially when you consider that there's companies out there selling way shittier versions of this. Like Heatbit is selling a garbage S19 inside a huge heating container. I think those are like $1,200 or maybe more. They're pretty expensive.

They don't give you really any hash power. They're huge. And some people kind of like the way they look. I think they're ugly, honestly. I think the Karazas have one at your expense. They do. They have one at Rockstar. Yeah, it's fucking huge. And you know, some people kind of like the way they look. I think they're ugly. Honestly, I think the Karate's have one at your life. I want to rockstar. Yes. S nine, I think it's inside nine. It's not even that's not keen. That's nine. Oh, and I believe I mean, that's this whole thing is just it's competition eventually creates for better product for the end user. Right? You basically have somebody else can make a better product for the end user. Basically, you have somebody else can make a better product for cheaper.

Yeah. Then if the other company wants to adapt, do the same. Try to make something better for even cheaper. And who wins in the end? It's the consumer that wants to buy these products. This is what you want. This is funny. One smart fellow in the chat, my friend finally got his heat bit after two years.

This is the other thing. The delay in shipping for some of these companies has been unbelievable. There was another guy who used to run ads on Pomp Show years ago. I think it was called a one miner or a coin mine or something like that. I forget. But those things were like $1,000 US as well. So you're right. The competition and sort of like just the general deflation in consumer electronics has led to better products and cheaper pricing. Would you ever consider doing something like this? Buying one of those units and kind of hanging it up somewhere and looks cool? No, because here in this part of Ontario, heating homes with natural gas is the cheapest and most effective way to do it so in other parts of the country

where you either don't have that ability to use natural gas or electricity is cheap that would suggest those areas take advantage heat your home with bitcoin miners and go nuts but here you know forced air using natural gas i'm just 10 feet from my furnace that's the way to do it here for sure unfortunately i'm just looking at um boomer in the chat saying the bit chimney what is the bit chimney how's that look i'm oh this looks kind of cool but this is this is actually a lot like um looks a lot like the heat bit this is not my favorite design you can buy this at the central too for up to 2500 as low as 560 and as high as 2500 that's a nice unit i i don't know i don't

know if i care that much about the electric like the electricity price i do care don't get me wrong like i'm not price agnostic on the cost to run these things but if you could heat your house with it or heat like a room with it or like and is there is there in your mind a price that's that you'd be willing to pay to like support the network you know like is that part of the math for you there's a lot of variables to consider because i'm in a family in this house yeah if it was me on my own i wouldn't care about the forest air natural gas i would just simply use this and i'd just carry it i'll put it in wheels wherever i go i just plug it in right so whatever room i go into i plug it in just always be always warm legs

that's the way i would do it so try to just keep it on the move as mobile as possible. That's good. Yeah. I keep my, you know, I don't know. That's just me. Anyways, let's talk about yesterday,

January 12th, because that was an important anniversary in Bitcoin joy. And because back in 20, 2009, so 16 years ago in a day, the first Bitcoin transaction was done where 10 bitcoin was sent from satoshi nakamoto to hal finney and some may suggest maybe finney was simply sending it to himself but this is a debate that still has yet to be resolved all alleged no one knows yeah but

either way it was still the first bitcoin transaction regardless of who sent it to so it's used today's price 10 bitcoin that was moved it's some 94 000 sorry 940 000 which is a decent amount considering man that's 16 years ago that's how much things have changed um another anniversary passed this past week as well january 9th 2009 was the first version of the bitcoin software client was released to the world that was hosted on sourceforge and according to satoshi he made the proof of work ridiculously easy to start off think about now how challenging it is to build a block how much energy companies are just pouring in equipment asics crazy amounts to just solve a block back then he said as he said ridiculously easy you can just use a cpu generic cpu from your do you know

how long it took him to mine the first block seven hours was it 10 days aha okay so it's super easy, but not that easy. Could have been easier probably for that first block. And apparently the optimization may not have been... He's like the historian, so he'll correct me if I'm wrong. But I think I saw 10 days or read 10 days at one point. So I'm wondering how well... Remember, that was the first client that was released. How well was optimized? Obviously, it probably wasn't anywhere close.

And another thing of note, it was only released for one operating system, Windows. Nice. You couldn't use it for macOS. Does that hurt your heart, Mr. Linux? No. At the time, if you wanted to capture the most users, you would have to have used something like Windows.

Yeah, for sure. Or something brand new. So yeah, so there was no Linux port. There was no Mac OS port. It was simply just Windows. So just food for thought. Love it. That's a great, it continues to be just an incredible moment in history.

All these different occasions, right? The first transaction, first node, first implementation of the software. It's just come so far at this point. And for people who think this is a scam or a Ponzi, you don't know the work ethic and the sort of ethical fiber of the guys who are doing this for nothing, for no one at the beginning of this project these guys were anything but scammers and uh i think most bitcoiners have absorbed and adopted that way of thinking too and it's like i said before i think last week of the week before that there's just nothing else like this nothing else compares culturally incentive wise nothing compares this is this is the apex predator

of quality workmanship and quality ethic in the financial space nothing even comes close like a religion joey yeah because once you learn it once you see it you can't unseen it the stupid thing but not just i could guarantee you that tomorrow there's going to be more bitcoiners than there are today yeah and that's an incredible you that tomorrow there's going to be more Bitcoiners than there are today. And that's an incredible thought. And that's going to be like that for the foreseeable future. Very few, if any, like once you become a Bitcoiner, you don't, you know, stop becoming one. It's like you are one and that's it.

You're there for the rest of your life, I'm guessing. Yeah, yeah. So that's, it's amazing and just through grassroots efforts and there's no pr firm right there's no fucking well there's honestly nothing there's nothing the only people who are publicly advocating in a way that like a ceo or whatever would half of them are cringe and and that negative so you're kind of winning even in spite of those people in spite of those people in spite of their communications right that's rare to say the least i i want to talk

about this is a heads up for quebec residents because there's a new reporting requirement for 2024 filings and this is thanks to a person named slut wizard 101-on-one on Reddit. So I like that name, slut wizard one-on-one. And it's the beginning of 2024. If you acquire or hold any, what they call crypto assets during a taxation year, you must complete the crypto asset return and file it with your income tax return. So if you acquire,

hold, or use stuff like Bitcoin, you have to report that on line 24. And they say there is tax consequences if you use it to buy goods or services, convert them to a monetary currency, exchange them for other crypto assets, or use them even to make a donation.

There may be tax consequences that are applied here. So be very careful if you are buying bitcoin in quebec and well they say you got to report it line 24 it's up to you if you want to do that i'm seeing my piece here you know i'm cleaning my washing my hands if you do it or not it's up to you only one comment if they want to know how much you have they're going to try and tax you on it eventually and that you can see the writing on the wall here it's so important to take your privacy and optics seriously when it comes to the bitcoin you own that's all i'll say joy i think that's a good time to end it we've sure uh yeah 55 minutes in almost and we could try okay yeah let, let's head over to Notable News. If you're on audio, keep an eye on that guy.

I had the tether story. I'm thankful I didn't even talk about it, how they moved from— What tether story? They moved from the British Virgin Islands. Oh, who cares? Whatever, yeah. Exactly. We read that.

It's all the other guys' shit. If you're on video, stay here. If you're on Twitter, stay here. I see a couple hundred of you guys hanging out. We'll be right back. No breaks on the CBP. Take care of yourselves until next time. And don't be a cock.