The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Europe Is Now Tracking Every Single Bitcoin Transaction | The Canadian Bitcoiners Podcast

Episode Date: July 14, 2026

On January 1st a new EU law switched on across 27 countries — and it reports exactly how much Bitcoin you own.Europe's DAC8 turned "Know Your Customer" into what Bull Bitcoin calls "Kill Your Customer" — so the Canadian exchange just filed the first legal challenge to strike it down. We get into all of it: Tennessee becoming the 2nd US state to ban Bitcoin ATMs, Trump's disclosure showing $1.4B in crypto income while his own team writes the rules, Kraken reportedly chasing a full EU bank license — and the feel-good one, a single $150 home miner that beat billion-dollar farms to win an entire block worth ~$200,000. Then north of the border: KPMG says nearly half of Canadian manufacturers have moved or are eyeing a move to the US, Ottawa tells the UAE it has no "shovel-ready" projects for C$70B, and more.Canadian Bitcoiners PodcastWebsite: https://canadianbitcoiners.comX: @CanadianBTCPodSubscribe & turn on notifications so you never miss an episode. ————————————————————————————————SPONSORS 🔒 easyDNS — Canadian-owned, ICANN-accredited registrar that has accepted Bitcoin since 2013. Domains, DNS, email, hosting, all without selling you out. Use promo code *CBP Media* for 50% off your first purchase, no limits.→ https://easydns.com ⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. Founded 2013 in Montreal. They never hold your keys; you self-custody from day one. CBP listeners get 25% off fees for life.→ https://app.bullbitcoin.com/registrat... 🔥 256 Heat — Hashrate heaters: Bitcoin miners purpose-built to heat a space. Every watt of electricity becomes heat AND hashrate, so you're warming your space and stacking sats at the same time. Custom solutions available. Tell them CBP sent you for a discount.→ https://256heat.com 🎓 Bitcoin Mentor — One-on-one coaching to take you from "I bought some Bitcoin" to true self-sovereign ownership. Wallets, keys, collaborative custody, inheritance planning, node setup, the whole stack. 30-day money-back guarantee on every package.→ https://btcmentor.io/aff/joey———————————————————————————————— FOLLOW THE SHOW 🎙️ CBP — https://x.com/CanadianBTCPod👤 Joey — https://x.com/joeytweeets👤 Len — https://x.com/thebtcpricebot————————————————————————————————

You get told in Bitcoin all the time that you have to be private about your transactions, but what do you do? What do you do if a government in Europe starts recording all your buy transactions and then trades that information with 27 other member states? That plus, of course, on this program, the continued decline of a once great nation, Canada shootouts at a salsa festival and retarded media asking the police chief retarded questions. But first, the intro. So, you know, the government can say whatever they want about this thing not competing. It's for black market only.

It's for this for that. But they're really 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 and form. and joey spots is taking care off right off the top oh bitcoin and easy dns the media is feeding the if this was any other night of the week where i was done recording bitcast and didn't have to do our show

didn't have the pleasure of sitting down with you do you know what i'd be doing right now sitting outside drinking a cold one no i don't drink during the week or try not to i would be playing black ops too on playstation five online like it was 2012 going old school school. Yeah. Legendary game. Legendary. The quality of the gameplay, okay, let me get on my soapbox here for a second as a, you know, millennial gamer. The quality of the gameplay, when everyone is staying in the lobby the entire game, when you can't like slide cancel, run off walls, when everything is not like SpongeBob Squarepants and Beavis and Butthead, Len, you strap on the gilly suit, you equip the FAMAS, you putt, you putt, you put a lot, you

put on the suppressor, you run sleight of hand, ghost, and hardline, and you say, take care, see you soon. I like Marathon. Give me that. You like Marathon, eh? Yeah, well, because I'm doing tactical. True. You're a knife guy.

You're always a big knife guy. Yeah, yeah. So I'm, uh, I like to piss people off. I don't well, I think. You sure do. I know it better than most. We're going to talk about, actually, we're not going to talk about call duty, but whatever. We are going to talk about the sponsors.

EZDNS is the neighborhood registrar. you have been looking for a number of reasons for this. Why? First of all, Mark is a Bitcoiner. Died in the wool, tried and true, been around a long time taking Bitcoin before you had any idea who Michael Saylor was. That's not all, though. A couple other reasons you want to work with Mark. In this era of we want to take people down, we want to cancel them, we want to attack your free speech, Canadian government talking about suing people for misinformation. Mark's been there. He's done that. He will be by your side if things go sideways. And then, of course, obviously, then the suite of services.

We use them for Canadian Bicorners.com. We do the access of easy podcast for which I do all the back end. And it's an outstanding platform that they have over on EasyDNS. I believe it's a WordPress skin. Super easy. New post, new podcast, new video, whatever, easy peasy. And then obviously, if you're a bitcoiner, you may be an enthusiast Bitcoin. You want to do some virtual private server stuff.

nodes, Noster relays, whatever. You want to run a BTC pay server, spin one up. Easy to do over these DNS. And you can go there and get 50% off your first round of buys if you use our promo code, CBP Media. I'll tell you what promo code people have been using is the one for our second sponsor, Bull Bitcoin. Why wouldn't you want to use our promo code? Because it makes all your buys and sales cheaper when you're doing it through Bull Bitcoin. And why wouldn't you want to use Bull Bitcoin?

I don't know another exchange that you'd want to deal with, given all the news that's transpired with them in the past a while we'll talk about that today bull bitcoin's place ride by the place joy buys and if we sell that's where we do it too because you could also sell your bitcoin in a variety of ways over there number one you could have them to pay bills they book bull bitcoin's service to pay credit cards car payment mortgage whatever it may be you could use that and that's one way to show off that bitcoin is a medium of exchange of bull bitcoin will help you do that you could do limit orders you could do auto buys. You can do a lot of different things. They're non-custodial. This is what you want in

an exchange. You don't want anybody to hold on to your keys or else you're going to get eventually over a long-term period of time you get rugs. So check them out. Bull Bitcoin, open an account using our code below available in Canada, Mexico, Europe, Latin America, a few places. Check them out. Maybe they'll be coming to a country near you. If not, let's petition them to do so. I suspect they will be. I use the bills thing today to pay or to test drive anyway, paying part of my visa bill, which was pretty cool. Easy. It's like shockingly easy to use, actually.

You'd expect it to be a little more difficult, to be honest with you. But no, really good. Bull Bitcoin at the center of our first story today. But let's go to boost first, some housekeeping, and then we'll get started. Well, we'll do one boost. And we have business cat 1337 stats. And he writes, bacon cheeseburgers are an American litmus test. if you don't eat

pigs or cows or worship them you probably have some personal development left to accomplish I don't think it's entirely an American limits test it could be also a Sunnyvale

like a cheeseburger it's a Western values and Randy Bobandy litmus test yeah if Bobandy is going to give you the two thumbs up or the two cheeseburgers up so you know you might as well say

it's not just American but also it's going to get you into Sunnyvale Trail to Park. I love it. I've been enjoying Luke and Corey on 49th parallel. I don't know if you've been listening to that, but I haven't listened to this week's episode yet, but I plan on doing it. I don't know.

Maybe tomorrow, something like that. Next time I'm doing some training. Maybe I'll put it on. Good show. I mean, they're friends of ours, obviously, so I'm a little bit biased. But I've really enjoyed hearing those guys yap back and forth about all things.

It's kind of like a sort of, you know, the way, the way of the modern man through a Bitcoin lens type show. I don't know if they'd agree with that. That's kind of how I view it. But you find that Bitcoin, you know, does carry you a lot of different directions when you compare yourself to people, you know, who are not Bitcoiners and don't have long time horizons.

You may talk about this a lot, you know, off air too. People just don't get it. They don't want to get it. And it makes you wonder, like, how these people are kind of living day to day. Yeah. Anyway, so housekeeping, Bitcast, going straight. strong there. We got, we did another show today. I was on the ones and twos running the host chair. Access of Easy last week, we talked about the Canadian, I mean, legislation, too strong a

word, but a memorandum, a memo of some kind drafted by ISED or IESD, I forget the name of the department. Talking about how the next step the government may take to make sure that you're not sharing what they call misinformation or information out of context, the scare. online is suing you, going right after you legally for your hard-earned cash, which is pretty crazy. So go check that out if you haven't already. And Mark and I did the first ready.ca, what we're calling the public dispatch last night, talking about some of the things plaguing safety in Canada, you know, people who want

to hunker down and build a community. This is the place for you. I think you're going to enjoy that content if you enjoy this. and it's a different angle. Mark obviously, you know, has been thinking about this a lot, and it's good to talk to him on Sunday nights. I'll be away this coming Sunday, so we won't do it. How long is the show?

It's about half an hour, yeah. All right. We do two or three stories. I bring the links up live and we, you know, just vibe and riff. It's good. It's really good. I mean, Mark is no stranger to a microphone either of mine, so it's been a good show. That's all I got.

Do you want to talk about anything on your end? No, I want to just dive to you. into these stories because i think i don't want to go long like we might have to give a trump is trump is on tonight at uh nine i want to go that long okay well we'll try to finish we'll try to finish it eight hour and a half is the right amount of time for a show i don't know we can't be going longer an hour and half well there's so much and i got to still water my plans so i want to do that while it's daylight so i'm being pulled in two different ends here but somebody who is laser focused on what to do next it's bull Bitcoin.

Yeah. These guys, they are trying to do whatever they can to ensure that their users, and not just their users, but also users, there's the post that Joey has brought up. It's the DAC 8. This is the directive on administrative cooperation in the European Union. And Bull Bitcoin is going to be locking horns, it looks like, with the EU, because of this DAC-8 directive. And this is for tax transparency on crypto assets.

And this all came into effect earlier this year on January 1st. And it's requiring crypto asset service providers to collect and report detailed user and transaction data to tax authorities. So instead of knowing your customer, this could turn potentially into a kill-your-customer. scenario and if you figure out what's going on in France you know if the information lands in the wrong hand you'll understand why i'm saying that so bold bitcoin decided it's time we've had enough and they filed a petition with france in the administrative court the concier de tat i hopefully i pronounce that right and and they are seeking to basically stop this and the argument Bull is bringing forth is that exchanges now have a centralized database as a result of this law.

And it's linking who has what and now you have a bunch of honeypots out there for hackers or bad actors to get access to. Furthermore, not too long ago there was that story that was revolving about a French tax person that was selling information to unsavory individuals. And wrench attacks, they're on their rise over there. A story I believe we talked about last week, around 75 wrench attacks have taken place in France to date this year. And it was around 40 something last year in a whole year. So if you look at the number of wrench attacks going up significantly year over year, people are getting kidnapped, all that shit.

So they want to try to put an end to this. I get what you're trying to do. I like what they're trying to do. I'm not sure if the European Union is going to back down on this, unfortunately. I think that they are just given everything that's being done out there. And we also have the discussion. You always hear this discussion. I can't even read that.

There's a comment on the screen for people that on audio. We're not going to read it. Actually, fuck it, I'll read it. Lindsay Graham deceased July 11th. Ben Shapiro's new baby born July 11th. Welcome back to reincarnated Nancy Graham. Elite comment there. Elite comment.

So to go back, I get what they're trying to do. But the fact you have always this discussion from the European Central Bank about Euro, digital Euros and the CBDC and shit like that, this DACA directive works really well. And you can tell that they love this type of law. They want to get as much information as possible. And they don't give you a shit about what's going to happen to Bitcoiners and if they get wrenched attack in the future. Who cares about them? They're a small minority.

and they're not going to, they don't give a shit in the end. But the reality is individuals, these are people, this is information that people are, the exchanges are now going to hold on, and it's an incredible amount of information. If anything,

we should be going away from this, but, but we're stuck with it. I hope we'll Bitcoin wins this, but I'm not going to hold my breath. I think this is just something that is great idea, great news, but I have my doubts that they're going to turn this around.

So we obviously are sponsored by Bull, but we've been friends of that exchange and friends of the guys for a long time. And two things I want to mention off the hop. Number one is Francis has been on Marty's show. He may come on this show. I don't know. We have to schedule it. Theo is another guy who might come on the show ahead of BullDickoin in France. There's precedent that they're not talking about publicly yet that makes them think they have a good shot of at least getting this to slow down and maybe taking it to the European Supreme Court.

difficult, obviously, in the best of times. But what I find interesting here, I'll go back to the website, is that most of the time you hear these guys talk about how this is about protecting kids or terrorist financing here, direct from the DACAE website. The rationale. The decentralized nature of crypto assets has made it difficult for EU countries' tax administrations to ensure tax compliance. The inherent cross-border nature of crypto assets requires strong international administrative

cooperation to ensure effective tax assessment and collection of the related income and capital gains. Mask off. They only care about collecting tax. That tax money is not going to improve your life. It is going to drastically increase over time. And it'll be up to you. If they're not successful, it'll be up to you to prove that you don't have the money that they think you have. And, you know, Francis has made the case that this is coming to Canada next year, the U.S. by 29 and there's already legislation with a name in both countries. This is messy for a number of reasons. But what I do appreciate is that they are not pretending anymore. This isn't about anything except tax receipts, capital gains, and ultimately keeping people in their lane and making sure that the

state gets their pound of flesh. Like I mentioned, the problem with taxes has never been the payment of taxes. The problem has always been the spending of taxes and how the government continues to spend and debase no matter how much they take in. The number of tax dollars that are collected are often closer to what it would cost to replace sewer grades than what it costs to administer health care and other welfare programs. It can't be like that. That's not sustainable. This is this is written about at length in the sovereign individual. It's written about at length in all these books about the end of the modern era of politics and economics. And it's always the same. I'm trying not to get too political and talk about, you know,

immigration, but this is obviously a problem too. You're running a welfare state with an open border. Tax receipts are going to have to go up forever to try and keep pace. And unless the guys coming over in dinghies are actually doctors and or engineers, you're never going to catch up. And so if you're in France, get the fuck out. Everyone needs to be thinking about moving to America, honestly, because it's one of the only places where you are still treated as a client state to state.

Will it last? I don't know. There's questions about how long any of this will last anywhere. But what I do know for sure is that the first places where this stuff takes effect and will nuke your savings and nuke your way of life, Canada, European Union, Australia, New Zealand, UK. These are the places where these laws will come into effect the fastest and have the most dramatic effect. And of course, there will be very little friction. These places are vassal states of the WF. And this is another example of how that's basically beyond debate at this point.

This is going to just push a lot more people to buy KYC free Bitcoin. Because those are the people that don't want to have their information exposed to certain databases. And by doing so, it comes with some risks. Because especially if you're doing peer-to-peer, there may be some recognition about the other guy. They might have some history and you can look at it. But in the end, it's still, it's always risky when you do a peer-to-peer transaction for substantial amounts of money for Bitcoins. But that's what it's going to happen. You're going to have people starting to do this, unfortunately.

And you don't want to paint the whole EU with the same brush with one brush, because there are some jurisdictions that are more Bitcoin friendly. Not on this front. This is 27, all 27 states will be participating in this. Correct. But in terms of the spending of Bitcoin and using it, like places I believe like Portugal and Czech Republic are better off than other areas. So, you know, that's something to consider. So going back to that, what I was saying is it's probably just going to make more people use KYC free Bitcoin. They'll get it somehow probably not through mining given the fact that they have energy problems.

France is scaling back energy production. of the heat wave and if you don't have energy production, how quick your mind for fucking Bitcoin. It's not going to happen. So who knows? Maybe they'll just trade their goods and services and get Bitcoin through maybe lightning, what's hard to track.

I don't know. It's just opening up doors for different ways to accumulate Bitcoin. And I don't think they're not, finance is now kicked out, right? Yeah. Yeah. So they'll just find other ways to do it. It's just sad reality.

But hey, they want to do that. All the more power to them. And this is going to be some type of law, as you mentioned, that's going to be rolled out to the rest of the world. For sure. In one way, shape, performance. So if you don't think that it's not going to happen in Canada, you said, look, this will be coming soon.

It'll happen. And it sucks. So hopefully you stack enough. You reach your stacking goal. And you're good to go. Want to talk about this signal fork? I think this is pretty cool. We should talk about it.

Radar chat. I like this a lot, this idea. Yeah. It's interesting. It's a signal fork with. has Bitcoin Lightning integration built in it. And as you mentioned, it's called Radar, and it's a private end-to-end encryption, just like Signal. But now it allows for self-costodial Bitcoin payments.

And the people that are behind it are the cake wallet folks. So that alone should be enough of a return for anybody to use this, given that they're a bunch of shit-coiners. They're, as I mentioned, integrating the Lightning Network into this, and they're building. building this and they built it on these open source protocol from signal and you're utilizing the breeze SDK to handle the shit under the hood and trying to make it as simple and as seamless as possible and they also allow for wallet recovery features just in case you need to regain access to your funds you know if you lose your phone or whatever so interesting but again going back that my level of trust in cake wallet and the people behind it

it's quite low, Joey, to say to least. And because of that, I'm going to stay far away from this. We know of one person in a chat that started using this lost their history. So they're starting from scratch. It's not the end of the world. This happens all the time when you get a new phone. But it still sucks, right? Like, just for lightning payments on the signal chat,

who the hell is going to, you know, you might make a good mean, but is anybody really going to tip you fucking? I don't know. idea but in reality like it's i mean isn't the whole point the whole point is that you need like a trusted platform uh to do this kind of thing and signal you know kind of is a nice way to do it you mentioned there that cake wall it's involved i agree that there's some questions there but you know but it's also backed by ego death right pish and jeff booth and those guys who you know are solid guys so you know i haven't heard a lot from them to be honest with you in the last of a while but

they seem to be front and center on this. Am I going to use it? I don't think I'm the target audience, to be honest. Who is the target audience? I'm not sure. I'm not sure. Is it third world Bitcoin users? Is that who it is?

But you're using Signal as the or the Signal protocol is a mechanism to send. Lightning exists. And you can get any lightning wallet. I don't know. I don't know. It's nice to have another option. I'm all for that, but I'm not going to send people that way to start using it. I like the signal protocol.

I like the signal app. I use signal proper, and I'm going to continue to be used signal proper for the next to a while. I'm going to throw this comment up from NICO. It'd be nice for online life to have more open and interoperable tech in general, so I welcome any effort with that. I agree with you. I think it's good in that regard. There's obviously, there's always going to be concerns about stuff like this. Number one, because it's new.

number two, because there's affiliations and associations we don't necessarily love. And number three, because, you know, Bitcoin, Bitcoin has really benefited from being the sort of crypto incumbent in a lot of ways. And now there's an incumbent already in this space with the Lightning Network. Anyone who's tech savvy enough to use this is probably already using some Lightning Wallet, right? Some other Lightning implementation. So I don't know.

I'd be curious as to like why they thought this was a good investment ego death. I'm not sure what like where's the money in this? Is it just, you know, a passion project? Is it a charity? Like what's the that's the other question, right? The first step. I don't know. For the integration of shit coins on there where they can.

No, I would be shocked to see that. I'd be shocked to see that. Well, because ego death is like, you know, staunchly Bitcoin only. I'm not going to hold my breath here. Anything is possible. Yeah, yeah. Let's talk about this thing I saw in Stack, it was really cool stuff.

If you do a lot of traveling and you want to buy an ESIM, this guy is the founder of cipheresim, cipheresim.com. And he built a no KYC travel ESIM that you could buy with Bitcoin, no email account, no account required. And you could go out there and pick one up, pick a plan, use a QR code to scan it, and then you're online right away. And there's a bunch of different countries out there, including Canada.

If you're thinking about having this replace your existing plan, I wouldn't because the price is kind of high. I took a look in Canada. It was around $40 or 20 gigs, if I recall correctly. So it's not the greatest price. But still, it's a good option if you're traveling and you want to buy an ESIM on the cheap and not have it tracked in any way, shape, or form. And they say that they never collect any KYC,

no information is collected, all that stuff. And they obviously take Bitcoin. Lightning is coming soon, which is cool. And yeah, just something actually I thought to be really cool, especially when people are traveling these days. It's a summertime. People are traveling a lot. Maybe they've got to get ESAM in the country that they're traveling to.

This is an option. Check it out. I like this quite a bit. You know, the more options you have, not only like in terms of the payment and the money, right, Bitcoin is great for that. But, man, I would love to not have to go to a provider if I travel overseas to get a SIM card. I would love it. I think that the thing that phone companies didn't really account for is that they figured the ESIM would kind of lock people in a little bit to their providers because you don't have to go back to the store to get the SIM card, whatever. Now, I think more people are actually saying, hey, this is a little bit more freedom.

here. As long as I know how to use the ESM tech and I'm comfortable switching providers from time to time, it's not a bad way to do it. Also, 20 bucks for, or 40 bucks for 20 gigs. I think, I checked it a few days ago. So if we go on a website, is that, is that terrible? Is that really bad? Like, I don't know if that's really bad or not. You could get better deals with the big, you know, the big guys here. So ultimately, you're looking for the best bank for the buck. having this to replace your existing cell phone plan, I wouldn't go with it. But for just simply traveling purposes

and for traveling without having any sort of identity tied to that ESIM, I think it's a good price to pay. 20 gigs, 50 bucks works around the world. That's not bad. If you're, like, you got to think, what kind of person is this for? Is this for the person who's going on vacation?

No. Like, you know, my cell phone plan still has like, whatever, you know, roam like home or whatever Rogers or Bell has. I forget if I'm still. I'd use this. Yeah. Yeah, Rome like home is good. I'd use this if I'm traveling.

I would definitely use. To the States? To anywhere where I would be roaming. The States is roaming. It only costs like $5 a day to get your plan in the States now. It's like super cheap. Okay. Yeah.

So it's not like there. It's not that good a deal. But Europe, I don't know. It might be maybe. Right. Yeah. So like there, if it's available in. in some Latin American countries.

Definitely that's an option for people. In the third world, too, Len, like maybe you don't want to identify yourself as a tourist. When you go to the third world, you'd rather just do this from your phone or from your computer. Yeah, so there's options there. You know, if you don't want to get wrenched to death in the slums of, you know, Rhodesia, then this is the way to go.

There's a picture for you. Yeah, what's next? We're not going to go back to Salisbury. Okay. about banning ATMs. Sure. Because the state of Tennessee, they officially banned Bitcoin ATMs. I said ATMs, but these are Bitcoin ATMs that are banned.

This is effective July 1st of this year. And having one, owning one, operating one, anywhere in that state is a Class A misdemeanor. That's pretty awesome. So funny. Absolutely hilarious. So businesses that had them, they were. They are required to have them removed by July 1 and hopefully they are gone. The goal for this, the state says this is helping out to deal with fraud.

And it will prevent some fraud because they say that this is a tool that is being used by scammers out there. And it's targeting vulnerable people. You know, the seniors out there that are trustworthy and then they get that phone call that taxes are due, go to the Bitcoin ATM, get it done. These are to report out there. trying to protect. But there's a legal challenge. Well, actually there was a legal challenge. It went nowhere. Coinflip and private IT corp. They filed a lawsuit and they were seeking a temporary restraining order to prevent this law coming into effect. But on July 9th, just this past

week, the U.S. District Court over there denied their request. And well, it's now, it's in effect. This isn't the first date that banned Bitcoin ATMs. Indiana has done the same. I suspect this is going to be rolled out to quite a number of states out there because, again, you have to protect people. They need to be protected. This is one way to do it. But between this and we're talking about the data collection that's going on in the EU, buying Bitcoin moving forward, less and less options. And the options you do have information is going to be collected from it. So whatever stacking you need to do, it's like planting.

a tree. The best time to plant a tree was 20 years ago. The best second best time is today. The best time to stack Bitcoin is yesterday. The second best time is today. Don't wait for tomorrow. Let me ask something. Do you think this is actually a censorship is the word be used too much? Is it actually just a play to stop people from buying KYC free Bitcoin? Or is it just that this is like such low hanging fruit politically that it's easy to get this through not only because most people don't know what Bitcoin. 8Ms are, but the people that do know what they are don't care enough to cash in any cloud to stop it. Like, I kind of think this is just, this is the victim of, you know, someone trying to score cheap political points for boomers who think that these things are the cause of all their problems, right? When really, like, no one, no one has any real passion for this subject on either side of the debate in Tennessee, you know?

Well, it's, I don't think it's KYC free. Even though we associate that here in Canada. any Bitcoin ATM that being KYC free. It's probably not the case because there are a bunch of Bitcoin ATMs in Canada that you have to sign up. You have to have an account and tied to a particular phone number

before you can buy your Bitcoin. I assume that applies to an estate. So for that side of things, I don't think they're trying to kibosh the KYC free stuff. I just think it's just another way to get score brownie points from the elector and say, look, we're doing something to help you out.

All right. Yeah. Who's a hurry in the end. Some Bitcoiners, whatever, but yeah, who cares, right?

It's just another on ramp that's gone. Over there. Sucks, but it's the reality. It's going to get worse. It's going to get worse. In fact, if you want to mine Bitcoin,

it's a good segue to the next one. Bit Deer, they have their new seal miner, A4 Ultra Hydro. I'm not sure if we talked about this in the past because this was unveiled, I think, in April.

This thing is an absolute beast because it's, as I mentioned, it's hydro. So it's using water to cool the unit itself. The amount of hash that you could do, it's 886 terra hash. It's nearly one pet of hash out of the box. That's an incredible amount. And it uses a little bit more than 8,000 watts of electricity. So if you want to compare that to, say, a modern air conditioning unit, that may be two to three air conditioning units that are running.

So it does draw a heck of a lot of power. But keep in mind that you're getting close to one tarahash. And the power efficiency is 9.45 joules per tarahash, which is incredible. And so these guys, remember I mentioned one petahash nearly this is pushing out. If you go back to 2015, the whole network of Bitcoin was around that. right like it was just it just goes to show you like how far we've done what a comparison that is yeah so they could in it just in 11 years time how things have changed so this thing is it is more's law it's still you know it's still here like we're still going to be able to get more and

more out of these chips there's still more to think of crank out of this and the hash rate will continually go up even though there's going to be less publicly traded miners out there doing their thing because they're moving on to AI and others things. So still, it's still going to be more efficient to mine Bitcoin. People are still going to find ways and to have the, the desire to plug this in and increase the hash rate. So pretty cool stuff. Yeah, they retail about 10,000 US. Yeah, you can get them as low as 10K or maybe depending on the, the seller. It could be upwards of 20,000. Wow. That's for the different configurations or what? No, it's the same one. Just depending on yeah so some are something in a premium but you can find some as low as

99,000 that's $99,900. God that is that's a lot you could also just call it call on yeah this isn't for the home liner yeah you're talking 8000 plus watts yeah it's you know that's quite a lot that's more power than your house uses right now for sure and think of when you charge a car electric car and it's way beyond that yeah all right uh Empry Digital, another NASDAQ listed company that was a Treasury, Bitcoin Treasury company. EMPD was or is the ticker NASDAQ and you could check them out. They were trading around $21 in the height of Bitcoin paper summer last year. But now they're around $3.50.

They announced just last year that they were starting Bitcoin Treasury. But now they're pivoting to AI infrastructure. And so sometime in the last two to three months, they sold off 1,400 Bitcoin, and that's nearly half their holdings. And they sold it off in an average price of $62,000. And they generated $87 million. Of that $87 million, $10 million was used to pay outstanding corporate debt. And $65 million is used to acquire a 25% stake in a new venture with Hunt, properties and they're going to develop 150 megawatt state-of-the-art AI data center in the U.S. Midwest.

And they want to capitalize on HPC and this growing trend of people, of companies trying to go into AI. But here we are. Another Bitcoin Treasury company capitulating. They said they're going to be discontinuing their public Bitcoin Treasury dashboard. I'm fucking shocked. I'm disappointed. I really wanted to see this. That's not that it was just going to be archived.

We'll never see it updated again. It's too bad. And they say management stated that reporting the asset, the NAV, they're going to be based on Bitcoin holdings that are no longer accurately reflect the business. Total value is it pivots towards AI. So they hold 1400 and change. So $1,500 and change Bitcoin down from $4,000, which was their peak. I love it.

You see these companies. And this is just the sign of the time. They see something. It's like a moth to a flame and that's fucking AI and you're going to pour money into that. Good luck. It's actually even better than that land. Look at the story here. The company was previously known as Vulcan and electric vehicle maker that pivoted to Bitcoin

Treasury then now is pivoting to AI all in under two years. Under two years. EVs, Bitcoin Treasury, AI. How could you do any of those things in two years, let alone all? all three of those days. The treasury company, let's be honest, it requires little change. You could still do your daily operation. You could be selling paper to, you know, to fucking people at school and still have a

treasury company. That's just, but going from the EVs to AI, that's quite a jump, whatever. I just like seeing this. But you know what? This is what's adding to the whole sell pressure. Yeah. You're totally right about that. Just keep going and keep eventually the liquid everything will just be left with iBit and

MSTR and let's see what happens with those two. Anything else you want to say on these guys? I mean, what else is there to say? They're all going. These treasury companies are all going away. The Dodo MSTR diluted their shareholders again today. They need another big chunk, right? So yeah, I don't know.

You know, in all things. trends always are trends always get over extended so whether it's you know something like subprime mortgages whether it's something like you know COVID insanity whether it's something like transgender ideology whether it's something like you know taking a knee for George Floyd whether it's AI and EVs like they get overextended and it's when you see everyone piling into something. The first thing you should think is, I got to get on the other side of this. Because the madness of crowds, you know, that phrase exists for a reason. The majority is hardly ever, you know, on the tip of the spear. The vanguard is called that for a reason, right?

There's obviously this story that Bitcoiners love Isaiah's job, but the remnant and the masses. The masses, they almost never get it right. They move, like Glenn said, you know, like moths to a light over and over and over again and just never figured out. They go through their whole life like that. And so, you know, when I see stuff like this, I'm with you, Len. It's like, you know, who could have seen this coming? It's like, remember in like 2017 when, uh, who was it Kodak or Polaroid pivoted to blockchain or whatever?

Yeah. Stock ripped up through the roof. There was an iced tea company, Long Island blockchain. Remember that? Yeah. You know, that was really just peak euphoria, peak madness. this is the same thing. AI, there's a lot of talk about AI

sort of looking jittery here. I realize this has been the case for a while, but starting to hear more and more really qualified voices that manage money and run money. You know, there's risk there, reputational risk, if you're wrong, and these guys are all starting to suddenly say that maybe they're right. Meanwhile, the crowd

is like, oh my God, AI, AI, we need to buy the anthropic IPO. I'm not so sure you have to buy that IPO. to be honest with you. Might want to hang back. Another thing that you should be doing for hanging back is BIP 110. That seems to be a lot of discussion.

Should we talk about BIP 110 and like should we do a bit of a deep dive here on what it is? You want to do it now or you want to do it next week? Because like this we could do it closer to the date. The fork date is what, August 10th or something like that? I thought it was the final date in some early September. I forget now. From what I understand. Interesting.

The one thing I just want to bring up, and it's quite possible this is a scenario, there could be a fork. And with a fork will be some new coins. And as long as you have your keys, you get access to that air drop, right? So once this fork, you get access to both of them. That's fine. That's understandable. But the people that are buying ETFs, they most likely will not get access. to those fork coins.

Who does? Like I said, it's the people that hold on to the keys. And who holds the keys? Well, it's like the Black Rocks of the world. And Black Rock even says in their prospectus on what they do with the fork. And it's mentioned that those proceeds aren't given to the clients. They can do whatever the fuck they want with it.

So if they want to sell it and keep it and say, thank you very much for your donation, they can do that. So that's one thing. Be careful selling your forked coin. because you will expose. Yeah, be careful. There's a, there's a pretty good explainer on how to do that.

I have it bookmarks. I meant to send it to you guys, but I totally forgot. It's probably sitting in my bookmarks somewhere. Safest thing to do is nothing. Definitely not on date. I mean, day one, you shouldn't be doing anything. Or even leading up to it. Yeah, just do nothing.

Yeah, exactly. Just hold on, just wait it out and then go from there. That's the safest thing. But I just wanted to say that if there's a fork, the ETF people, they're going to be smiling because they're going to get, well, I don't know how much you're going to make off this, but if they make more than $1,

that's in their pocket and not yours. And it's too bad because you just wanted to chase that carrot for tax efficiencies or ease of holding on or whatever fuck it may be, but enjoy. I know people that do have their keys, they have access to any four coins. And all the benefits that come along with it. And the drawbacks as well.

Yeah. This is my first big fork, right? B-Cash was when we were first dipping our toes in this thing, 2016, 17, whatever, or I guess it was almost 2018 when that happened. Yeah. And so this is the first, like, really fork war, I'll call it, that I've been able to watch with, you know, some skin in the game for sure, but also a little bit of understanding on the social aspect,

the technical aspects and all these things. I got to say, the BIP-1-10, are the most annoying fucking people on the planet. They're just like no grass touched, no girls fucked, no steaks eaten, no benches pressed. It's just like the biggest fucking losers and weirdos online. And they're just in every comment section. For guys who fucking hate spam, they literally spend all day spamming timelines, spamming chats, spamming everything over and over and over again.

They told, you know, Marty Bent posted a picture of his. son at the beach and someone's like under the under the picture someone's like your son and your rest of your kids are going to fucking hate you because you didn't support bip 110 and allowed Bitcoin to be captured. I do I do Bitcast with Walker Walker who's like the nicest guy by the way like you know has a kid his wife is like about to pop with their second. God bless that family. I wish them all the best. Great guy. People accuse him of being like a paid chill for like core and all this stuff. It's just like absolutely nuts the things these people say on the internet.

And in the Bitcast chat, we're lucky here. This show is like not as popular as that other show is. And so the chat is more reserved, focused and oftentimes, you know, I'll be honest, more polite. That other show, man, you should see this shit in that chat, man. People are obsessed with this fork. They are crazy. Guys like Matt Cratter completely suering his reputation over this, talking about, you know,

I had a video out today, the bugle guys retweeted, or yesterday, we will follow you for decades. We don't care how long it takes. We're used to the pain. We're like, buddy, it's not the fucking, like, you're not a conquistador man. You're a fucking guy on the internet, you know, yelling at your computer while your kids are on the other side of the fucking door. Like, get a grip. Go outside. What is the problem?

It's fucking insane the way these people treat other people on the internet. That's coming from me. I tweet some of the meanest, rudest shit you'll ever going to see on the internet. And, and like, I am like shell shocked the way these people talk others. You,

you come to the conclusion. Somebody that's not in support of BIP 110 is basically selling. Their children in their bloodline are going to hate them forever, Len. Like, what?

I don't understand. Yeah, how you eat, those two things are going to be, right? There's a connection between the two. Okay, me, maybe I've been wrong in the past. Maybe I'm wrong about this one.

But you know what? I'm probably going to, I'm going to bet not. I got, I want to, I almost want to find that video from Cratter and just play a bit of it. Like, it's honestly fucking crazy.

The shit that these guys, I think it was Rod Palmer, uh, who tweeted it. And I, I am like, I was thinking about it today. Like,

oh my God. What happens at the end of one year, though? This is because it's supposed to be temporary one year. What happens at the end of the end of? of one year, do cooler heads prevail and say, oh, you know what? We fucked up this past year. No chance. No chance. And what happens to the people that

potentially have unspendable UTXOs during that one year? Do we somehow make them a whole? It's not like they could call up the CEO of Bitcoin and say, you know, buddy, could you please make this available to me? You're fucked, right? The one thing about Bitcoin is you

should have access to it, as long as you have the keys, all the time. There shouldn't be a set of rules. in the future that makes your coins unspendable. It doesn't make any sense. No. If all your work, all your effort, you put into Bitcoin,

and you're 100% into it, and you buy it, you hold onto it, and all of a sudden, it's fucking blocked from you spending it. What do you do? And everything about Bitcoin is supposed to be uncensurable. And the one thing this does potentially is makes some UTXOs block.

No, it's crazy. That's not the right way. We got to listen to this from Crowder. I'll put it on like double speed just so we can listen to it. But Rod clipped some of the best thing. This guy sounds like fucking crazy. Keep going until the end of time. It's just insane.

Let's have a quick listen here. So I want to end with a warning to mining pools. We are basically, we plebs are basically insane people. You should realize after having seen the last six months. We're insanely committed to getting this activated. We're not going to let up until we have a point 10 gets activated. We're never going away until we get what we want. We are going to be a thorn in your side for the next five years, for the next 10 years,

if that's what it takes. And we're going to make your lives and continue to make your lives absolutely miserable if you oppose us. And it's because you mining pools need to remember you work for us, the PLEBS, and not the other way around. And here's the other thing. We have a remarkably high threshold for pain as Hodling PLEBS that I can promise you that your exchange or mining pool or other Bitcoin or crypto business does not have the similar high threshold for pain.

We don't care if the price stands to $15,000. We don't care if it takes to $5,000 or $1,000, we can outhold all of you because we have our Bitcoin in self-custody. We also don't care if the chain split, if there is a chain split, and if there is one, if it wreaks havoc on your exchange, we don't care if your mining pool goes bankrupt because we keep throwing out your blocks. Bit 110 is being run by the most maniacal Bitcoin plebs that have ever existed. And we're armed with our personal servers, our star nines, and our umbrels, we're hashing,

we're hacking, and we really are taking back the network. So I would say, because this has been run by the most maniacal Bitcoin plus that have ever existed, and we're not going to take no for an answer. I would suggest that the Bitcoin mining pools, think about this. Realize this is a very simple, non-contentious upgrade, and they just start to signal for it. So I would suggest to the large mining pools, choose wisely, have a nice day and make the right choice because otherwise your lives are going to be absolutely miserable. If you enjoyed this video, like what the fuck, man?

What are you talking about? Those are the people that are carrying the BIP-110 flag. And if you just listen to the way that they're speaking, the message that they're conveying, it's, I don't think they're selling their product. If anything, they're pushing people away. But maybe I'm wrong. Luke, Luke Dasher, whatever that guy's name is, like never, it never fails. It never, it never fails, okay?

The guys who tell you constantly that child, whatever it is, child sexually, sexually exploited, sexually abusive. The CSI am. Yeah. Like, the guys who tell you that this is the concern, every time, every time, have some tweet about how 12-year-olds should be able to consent to having sex. And here we are, Luke again, in his fucking history, it's in the fucking tweets. It's like every every single fucking time Someone says something like this You can just go find something they said

That makes them look like a creep It just never it never fails And guys like Cratter Who by the way I don't I don't think he's like necessarily wrong About a lot of things he said in the past But like why Why die on this hill

That is so clearly Not going to be successful Why you're going to hold on to it for five years, 10 years. You're going to have no capital. Capital is what drives this thing now. It's like, again, his failure is not, his failure is in not recognizing that this isn't a GitHub project.

It's a trillion dollar market cap global asset now. Like, it doesn't matter what videos you make on YouTube or how many anonymous guys with Spartan profile pictures like your tweet. It doesn't matter. You're irrelevant. The mining pools matter more than you. The big players matter more than you. It's just a simple, it's a fact of the matter.

These guys, for guys who seem to understand that to usurp Bitcoin need to be not one or two or three points better in terms of ease of use and accessibility and all these things, you got to be 10x better. These guys don't understand that BIP 110, even if it is a little better than core, for whatever reason you may think that, it has to be 10x better to get people to jump. they don't understand. They don't, they're blinded by like, again, this tribalism that's missing from their real lives is being replaced by whatever the fuck this is.

And it's like, it's an embarrassment at this point. There's no other way to put this besides just embarrassing. So embarrassing. One thing that really concerns me is there's some, you know, small enough changes.

We don't know what are going to be the unintended consequences from totally agree. Great point. And if you look at, Bitcoin, it's complex. I'm not sure how many lines of coding it is. You can easily check it out. It must be in the tens of thousands of hundreds of thousands. Like look at an operating system, which Linux has millions and millions of lines of coding. It's got a bunch of holes in it. And holes are, they've been there since the beginning of time, but some are because of changes they do through modernizing it. And when you have something complex, when you do something small, you don't know what's going to happen. And it's not like you could just send out a patch to all your users. out there like to do it in Windows or Linux or in MacOS or whatever, when you're talking about money, right?

When you fuck it up and when people lose faith in it, the value plummets. And if you put it all your, all your eggs in that basket, you're done. And then what do you have? You have nothing. And it's too bad because these things need to be talked about, need to be hashed out over a long period of time. Let's not make any changes. Let's fucking go things through this very, very slow.

Because if you fuck it up, we don't get a second chance. this. Yeah, I totally agree. There's been, there's been comments from guys like, you know, just, just like the same. It's the same, you know what it reminds me of, honestly, is the, the guys who like, you know, were dying on the hill for the COVID vaccine. Like, that's how, that's how it feels to me. It's like this, you know, mania that's engulfed these people, but they're, they're beyond reasoning with, you know, they're masking up. They're, they're, you know, talking about their Fauci, Ouchy, and it's just like, what is, like, think about what you're doing, man. You have to come back to this community. If you plan on staying a Bitcoin, you have to

be in this community and, you know, participate in the network in the future. Your reputation is all you have these days, and especially in Bitcoin. And they don't, they don't understand the damage they're doing to it. Maybe they don't care. Is that it? Maybe they think that the damage is greater by, you know, quote unquote, supporting core. You know, it's an implicit support if you don't support BIP 110 or run knots or whatever. Like, I just, you know, you say this all the time. You're not necessarily a core guy. You have a knots, you know, maybe you have a Nauts implementation.

You run an old version of core, blah, blah, blah. But I never hear you calling for the heads of people who run other stuff. You know, that that's really where the line is between civility. Well, you're talking like, you're talking like figuratively or literally having the both? Because, okay, literally, I will almost never do that unless it's somebody that just does such heinous acts out there, like a Bernardo. Then I could, you know, I could talk about that. But stuff like this, you can't.

We could say figuratively, Cores made some stupid decisions over, like some really questionable and stupid decisions. But, you know, life goes on. We could deal with this. And you could run, even if you run a modern version of CORE, like 30 and 31, You could still, I believe, lower the op size, sorry, the upper turn size to something that could be one bite. I believe you could do it. I know they're going to eliminate this option in the future, but you can still make a change in the Bitcoin.com file and add something in there. So that option still exists.

And I believe I'm going to have to take advantage of that soon enough is I'm running version 29, which is the last version before they fucking increase the upper turn size. And eventually I'm going to have to go to version 30. And that's what I think I'm going to do. There's one more thing. One more thing I want to talk about on Bip 110. It's just this exchange between O'Dell and Bitcoin to Oblivion. Theoretically possible to freeze Bitcoin with a softwork. I mean, you can go through this.

But, you know, it says the Bitcoin to oblivion guy commenting here, you know, you're a sim influencer and your VC days are numbered. He's got the bell curve there with the Jedi and the retard and the mid-curve guy. I hate spam. Bit 110 doesn't fix spam. The best part about this tweet is he goes, are an Indian dude in Canada with a Spartan profile pick while screeching about LARPing. He had no idea the guy was Indian, but he knows the account is located in Canada. And so the next comment is, I don't know why me being Indian has anything to do.

This is an intersection of my two favorite topics. It's an intersection of my two favorite topic. I can't believe I got so lucky to see that today. Awesome. Amazing. Show to Matt. Show to Matt. Okay, let's do one last story.

Is it going to be better than what we just did? No, it's pretty dry, but interesting still. Cracken, they're trying to expand operations in Europe. They are looking to get a full banking license in Lithuania. And Lithuania is one of the European Union members. So if it's there, it's going to be everywhere. And by getting a full banking license, Krakken will then be able to offer up services like taking deposits,

customers, sorry, lending for consumers, and that would also apply to other EU countries out there. And it makes me wonder how they could leverage this with potential upcoming digital euro. And it seems like, you know, European Central Bank is very fond of this. So having this in there,

I'm wondering if they can take advantage of it. But also, also, Cracken might be paving the road here for companies like ShakePay who may want to do the same thing in Canada. Because if they do this in Europe, if they become this type of business and offer up banking services there, along with buying Bitcoin

and well, Cracken does a lot of other things, shit coins too. Maybe ShakePay is going to probably do the, look at this and say, hmm, the path has been paved, let's do this here. Be curious. I mean, there's all kinds of options

for these companies that have, you know, what's the kindest way to put this, a regulatory moat? bit of a regulatory mode, right? ShakePay definitely has it here. Cracken has it over there. They have the Fed window, I think, right?

They have like the mini Fed, diet Fed account over there. I'm pretty sure that was Crack and they got access to that a few months ago. So, I mean, this is, who does this matter to? Who is the target for this? That's a good question. I don't know. But offering up additional services. Yeah.

It's certainly, it's not going to shun away people from using their businesses. No, definitely not. cast out a wider net and try to bring it into their service. Like, interesting. I don't know if it's going to, it's not going to be earth shaking. It's not going to change the world in any way, shape, or form. But it's a convergence between these companies that offering up digital services and now they want to offer up traditional banking services. I find it interesting.

Is it weird to doing it in Europe, given the DAC-8 stuff? Maybe it's all just they did they give a shit about storing people's data on the central database on a cracking computer. They'll be happy to share it with the Lithuanian tax authorities. And we'll share it with the other members of the EU. I don't know. Whatever. Let's go over to the, yeah, we're going to be in notables here. If you're on audio with us, come back tomorrow for the back half.

If you're on video or live with us tonight, stay. We're not going anywhere. We got lots to talk about, including what's sure to be. a lively debate about the continued decline of Arctic Mexico, as Marcahodes calls us. So hang in, get another beer, get another glass of milk, whatever. We're going to be right back. And don't be a cock.