The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Gamestop Makes Bitcoin Waves! Trump Buys a Miner? UK Bank Freezes Customer Funds! | CBP 209 Pt 1

Episode Date: April 1, 2025

FRIENDS AND ENEMIESIn this episode of CBP, we dive into the latest news and trends shaping the world of tech, finance, and retail. Carney vs Poilievre starts to heat up. Gamestop is making waves in the bitcoin community, sparking speculation about the future of cryptocurrency. Meanwhile, Tesla's rebate program is facing a rough ride, and grocery stores are turning to body cam technology to enhance security. We'll break down the implications of these developments and explore the latest insights in blockchain (puke), crypto (puke), and market volatility. From Elon Musk's latest moves to the impact of the Trump trade war, we'll cover it all. Join us for a deep dive into the world of finance, tech, and retail innovations.Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com⁠Discord:   / discord   A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetworkThis show is sponsored by: easyDNS - ⁠⁠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.

Friends and enemies, welcome back to the greatest podcast in the world where we are polling at record highs and record lows. My name is Joey. That's Len. Buddy. What's the high? What's the low? Like our record high for poll.

I mean, we're pulling at about a hundred percent approval rating, I think right now. I don't know as many people who listen to the show and don't like it. The low, I don't know, probably after the second episode where we did like three hours in my kitchen table and everyone was like, what the fuck are you guys doing talking for that long? There's a high, there's our low. Yeah. Yeah. What's going on? Good to see you. So I get work today. Always, always a pleasure to see you in a professional setting as well. I am here. I'm there. I'm everywhere and nowhere at the same time. Joey, I'm just enjoying it. I am like the wind. I'm like a ninja. I'm there. I'm everywhere and nowhere at the same time, Joey. I'm just enjoying it. I am like the wind. I'm like a ninja

I'm having fun. I'm counting down the days more than anything Cutting them down Yes, Joey. It's a Did you get here with snow we got a little bit over the weekend but not much and We had a little bit of that hail as well But nothing compared to our neighbors to the North, right? If you look up in the air, like Arillia and whatnot, pretty rough. Yeah, pretty rough. Saw a pretty good snowstorm there. Yeah. I know somebody that went for some event and just

outside of Berry and they got stuck there. Power outage and snow and yada, yada, yada. They're still stuck there. If they need food, like if they're having trouble finding food there's tons of leftovers at the Kearney rallies since no one's showing up. I see a lot of leftover pizza on Twitter at these things so if you ever need a bite to eat or you find yourself in dire straits maybe Mark will help you. Make sure you ask in English though because I'm not sure they would understand in French. Lots to talk about today we got a good show full of fun, excitement, and, uh, commentary, a couple of things. I mean, the election is obviously still headlining. We'll

talk about that among other things. Let's just get to the sponsors first. Yeah, of course, easy DNS. Mark has been a friend of the show for a long time. And, uh, you know, when we look about, when we look at our sponsors, we always try and get best in silo. We started doing that, I think with Mark and we've been able to keep doing it with Bull Bitcoin as well, obviously. But if you want to host a website, build a website, buy a domain, port a domain, Mark will help you do that. We've done it with CanadianBitcorners.com.

We posted on CanadianBitcorners.com today for the first time in forever, a mix of AI and commentary from yours truly on the best stories from the last seven days in Canadian markets. I think it's pretty good. I curated the AI stuff a little bit, but you tell me what you think anyway, listener viewer. On top of that, if you are a Bitcoin enthusiast, you can go over to Mark and use the suite of virtual private server stuff available on EZDNS, whether it's a Nostrelia Bitcoin node, Nodeless implementation, B2C Pay Server. Mark will help you set that up. piece of cake. And then of course Len, domain share, making sure you are as secure as you've ever been, okay? Snug as a bug in a rug as the saying used to go. And you know,

when I think about security Len, you know, we talk about it a lot on Accessive Easy, the Easy DNS podcast, but we're talking about it more and more here as well. So I think if you're going to start a, if you're going to start a, if we're talking about it more and more here as well. So I think if you're going to start a, if you're going to start a, if you're going to start a little company, you want to be using Mark for your website and for your domain and all that stuff. And if you're not, I mean, what are you doing? Go there, use the promo code, get 50% off your first round of buys. Pretty good deal. Yeah. Another good deal, Joey is where you should buy your Bitcoin because you're not going to get rugged with bull Bitcoin because it's non-custodial. This is what you want in exchange.

You can't facilitate a buy without providing an address in which to send it. Try that with Coinbase. Try that with other places. They'll be happy to hold on to Bitcoin. I told you, I just got Shot KYC on ShakePay too. It's happening everywhere. Well, Bitcoin won't let you have that. Again, like I mentioned, you have to provide an address to send it to. It could be a fake one, but then you're just sending money or Bitcoin into some, to Netherland never to be received again or retrieved later on.

Either way, if you're an individual, if you're a business, this is a place you want to buy your Bitcoin. If you're in Canada or in some parts of Europe Good place to buy like I mentioned the price. I don't know what the heck it is. What is it low 80s? Whatever the heck it is buying time selling time. They got you covered on chain lightning The fees on chain are still super low continually do that. That's my suggestion But of course, this is not financial advice do what you want But there's other things you could do rather than simply buy and sell. This is only sure we talked to you for an hour and a half and then at the end we just

say, you know what, just do what you want. Well, do it. Yeah. I'll be happy to provide information, point people in the right direction. They could do whatever they want. Just like with bull Bitcoin, I suggest people to use it, but I can't force them to. It's not just simply buying and selling with bull Bitcoin, there's other options you have too. You can use your bill service to pay your bills

with your Bitcoin, which is rather cool, right? Like where else are you gonna do this where you have your Bitcoin, hopefully to accumulate in value quite a bit over the past how many years you've been in it. And one way to use the value that's been stored into it is start paying the bills that you have accumulated over the past many months.

And Bull Bitcoin will be happy to facilitate those payments. Furthermore, you could buy gift cards. Look, in Canada, it's very difficult to spend your Bitcoin directly to a vendor. There are some select very few vendors that will do that, but the majority do not allow this. So what you can do, you could buy gift cards through Bull Bitcoin using your Bitcoin. And that way you're kind of spending your Bitcoin indirectly in the real world. You're living on the Bitcoin standard. This is the way Satoshi wanted you to do it. If you haven't opened an account with Bull Bitcoin, what the heck are you waiting for?

Our code is below. You can check it out. Just click on it and open the account. If you do that, $21 will be added to your account once you provide the necessary information and, of course, fund your account. Let's do some boost, buddy. What do you got? Well, Joey, before we even get there, this is four years.

This is 2009, right? So it was four years last week. I don't know. Somewhere around here, like, okay, another anniversary, maybe pseudo. I don't know. Yeah. Anyways, happy anniversary. Happy anniversary.

Happy anniversary. I could just barely hear that in the background. It's just, that sounds so awful that, now it's coming in. Oh my gosh. Good job, way to go. Boost, let's do it.

Wartime, 333 sats. He says, operation GTFO, laughing, claps, and fire, fire emojis. Yeah, I'm with you there truly wartime again 3 3 3 sats fire and fire emojis. Okay, here we go. Hopefully I'm getting this right because it's kind of difficult to get all them with all the boosts. Teets writes in 475 sats joy watching shit coin content content so we don't have to. Bless you, sir. Doing the yeoman's work.

I don't do stuff as I used to, but yeah, still do sometimes. This is to do with bankless, I'm guessing? Yeah. Have you caught them lately or are you going to get the latest bankless? I haven't. Let's do our weekly bankless title and vibe update here. Hold on. Vlad Tenev wants to tokenize SpaceX and OpenAI on Robinhood. Gives

you an idea where things are in the Ethereum world. It's going really poorly over there, but it's on an ETH show, so fuck them. We have, let's see, DugganRoop950SATS. He says, lens new, heard it, no, sorry necessary not heard it with such vitriol before GTFO strategy is signaling an interesting shift in the leadership of CBP media Inc. watching one of these quote unquote place it in the sun shows and it hit different for me know you're sitting on a stack and complaining the time to make the plans and executing is closer than one things and I yeah I've been saying this for some time.

That certainly is. It's better to start doing it today than tomorrow. And if nothing pans out, at least you're prepared for the worst. And it never came out. But I think the worst is going to be coming. I agree. Maybe a glass half full or a container of water half full. But that's just me.

But that's it, Joey. That's the five top boosts for this week. Okay. Thanks everyone for your sats. This week we have. Oh no, I'm sorry. I missed one. Sorry. My bad. Because it's 475 sats, Moby TC Dick. These smear campaigns really disenfranchise me with both parties. Hate that stuff. Yeah. Sorry. I didn't mean to cut you off Joey, but I agree. No, you did. Accented that 475. So I want to make sure he got his, we've got to get the, I got to get the word out this week on the show. On Wednesday, we have Dave Bradley,

Bitcoin brains. We'll be talking about, I don't know, TBD. I don't really have to plan a show with Dave. He's got lots to say. I got lots to say. We have a lot in common and we disagree on a few things too, but we will talk. And then next week, I have what I think is going to be a really fun show, CoinIcarus Phil, one of the original Simply Bitcoiners and now the host of Pleb Underground coming onto CBP for the first time. Phil's one of the first guys I followed on Bitcoin Twitter back in 2018-19. It was really before I had any idea where the signal really was in terms of Twitter. Podcasts were easy. YouTube was sometimes good, sometimes bad. But he was one of the first guys I followed and I've followed him since then. And I'm excited to talk to him.

I've never actually had a chat with the guy. So I'm looking forward to that one. That's going to be good. That's in two weeks. And then in three weeks, I don't know. I think I messaged Suretsky. I haven't looked to see if he wrote me back yet, but I'm going to try and get him for the 16th and then we'll see where we land after that.

But yeah, good, good guests coming up on CBP. I'm really looking forward to doing some interviews here. Joey, the Bitcoin stuff we could do a little bit shorter because again, I think we have so much on the back end of the show. I can't believe it. I just want to say, can I just say here, I don't know if you guys can see this, it looks like I have more gray hair than I actually do because I plugged in my cam link to this camera. This was on USB before. And so I haven't changed the settings if I look a little Whatever staticky I'll fix it for next week. But for now just enjoy the Good because I was wondering and I know I was gonna sleep good at night

What was the movie with the vampires I forget what it's called Interview with the all no where they're all shiny. It was from like the early 2000s, I think. Fuck, I can't remember the name of it now. Someone in the chat will know. I see myself in the video here and I could see my eyebrows are shiny. It's like every time I move, even the headphones are like too staticky. It's like visual noise. I have to fix the settings. But Boomer asking good questions. There's going to be a special election show. That show is on the 28th of April, which is on Monday. It's not Monday. It's gonna be a Tuesday.

So, I don't know. Do you want to start it a little later maybe? It's like skip the usual show and do election coverage? I don't know. Because you can't really... I cannot go from seven till 10. No, and there's not enough content. Yeah. I can't really, I cannot go from seven till 10. No, and there's not enough content. Yeah, but we could do like eight till 10 to maybe put on,

just check out some polls, bring on some guests. I don't know. Like if we plan it now, we could probably do it. But we have to agree that we're doing it, I think is the key. I'm game. Like who would stop in? Who would stop in?

Mark for sure would stop in. Even if somebody said no, we could still do the show in a way that would work right. You could still have your Bitcoin stuff at the front of it before the polls close nationally. But it will close in the East, I think, before. But either way, you'll still be able to do shit and then talk about Bitcoin and then transition to the rest of the news. And that will be the time the polls are starting to close for the majority of Canadians and then we'll start getting results in. So yeah, I'm doing, I'm down with that. Let's do that. Start at eight and around 10 ish. Yeah. Unless there's like, you know, they're still counting

the ballots. Yeah. We're not going to go to sleep that night. We'll go to about a three, four or five in the morning. Hillary Clinton will tell me that before we go to bed that they're going to be counting through the night. So anyway, yeah, we should do that. Yeah, count me in. Luckily, this doesn't happen typically in Canada. It would just generally... Yeah. So I don't think it's going to be like that. Lock it in. We're doing an election show April 28th. Bank on it. All right. Anything else before we just do the kind of abbreviated stuff extended? I think, I think that's it. Let's, let's hop in.

Game stop. Well, we'll do that. Number one, right? Like the, this past week they announced they're going to be buying Bitcoin. Yay. Right. Apparently it was 20% that day, I think, or the day after. Very next day they gave it all back.

Yeah. Right. So like investors love that temporarily and then all gone. This came out March 25th. This past week, they came out with news saying that their board unanimously approved an investment policy. They said that they want to include Bitcoin as a treasury asset.

OK, I'm cool with that. Seems nice. At the time, they didn't stipulate how much Bitcoin they're going to be accumulating. But it was noted, too, by a lot of folks out there that GameStop was sitting on a fair bit of money, billions of dollars in cash. So they were thinking maybe they were going to be using that to buy Bitcoin. But well, before we get into that, they said there's no huddle strategy. They're going

to, the board has authorized the good people at GameStop to buy and sell at their discretion. So they're going to be using this as a way to, well, we'll see. They give the regular reasons why anyone would be getting into Bitcoin declining value of US dollars and so on, shit like that. It's speculated that too, they might get into the NFT world, right? Because let's, you know- Why not? Exactly. If you can monetize it, all the more power to them. I don't agree with it, but whatever, fuck them. Following the announcement.

So like we talked about, the shares spiked up quite a bit. And then the very next day gave it all back. They also said they plan to issue one point three billion dollars in convertible bonds. And this is going to be partly used to purchase Bitcoin, not totally, but partly used to buy Bitcoin. So the cash they have at hand, I think they're burning cash every month. It's just they're not in a good position.

Zombie company really, more than anything else. This news for them buying Bitcoin would have been huge four years ago. Fucking massive, especially given what transpired after the short squeeze and deep fucking values and all that shit. But last year, this would have also made big news. Say this happened 12 months ago, this would have been really big news.

But now March, 2025, it's whole home. It's like, whatever. It's like another company buying in GameStop, whatever. But the one thing people are speculating is now because they're gonna be accumulating Bitcoin and adding it to your treasury. And I'm not sure how much is gonna really change their finances in the end,

but maybe people are speculating there could be an opportunity for shorting Bitcoin as a way to suppress the price to impact GameStop's overall valuation. I don't know if that's possible. Bitcoin's what, a $2 trillion asset? I could be wrong with that number, but either way, I don't think that that's possible. Good luck for a $2 trillion asset. I could be wrong with that number, but either way,

I don't think that that's possible. Good luck for people trying to short Bitcoin. They're going to get wrecked in the long run. Actually, for any of you, no coin out there, I encourage you to do that because you might as well get wrecked and we could laugh at you all the way to the poorhouse. Either way, for this whole GameStop shit, whatever. Who cares in the end, I think. GameStop has been issuing debt and trying to stay afloat on the back of basically becoming a meme through the DFV thing, like you mentioned, for five years now. Did you realize that? That's a long time. GameStop is a company. I don't know how old that company is, but I can't imagine it's been publicly traded for longer than a decade. So you got to figure half of its sort of useful life, it's been running on fumes,

right? Whatever the Wall Street BetJet said. 2002 I guess is the earliest price. Wow. So it's been trading that long. I think that's correct. It could be longer, but... Yeah, that's quite a stretch. I'm really surprised to hear that. And GameStop as a company, I think is maybe the poster child for the memes, right? That's the quintessential meme stock and its leadership has basically thrown in the towel on trying to become profitable, it seems. Bitcoin did not save them. I suspect it will not save any other companies because in order to do that convertible debt issue and to buy Bitcoin, people have to actually want the converts and MSDR seems to have gotten that right. They've proven that the

market has an appetite for that stock down the road, but I'm not sure that GameStop is gonna be able to do the same thing. So look, this is, when people say in the Bitcoin space, we need more companies to adopt the Bitcoin treasury. Okay. This is what the normie sees. The normie sees this. They don't see Sailor. They don't see, you know, other companies that have done the Bitcoin treasury strategy, the Semlars, the whatever, right? That's not what they look at. They think these companies are failing and they're trying a quote unquote gimmick to remain afloat. Now that may actually be true in a lot of cases. Like I don't know what SEMLERS balance sheet looked like. Certainly MicroStrategy wasn't hitting the moon anytime

soon on the back of their software business, but it doesn't work every time Len. And I think this should be a wake up call for the people who are saying, yeah, every stock needs to have a strategy where they're adopting Bitcoin in some way or another. But again, like you mentioned, there's no hodl here. This is just buy, sell, buy, sell to try and stay afloat, I guess I was going to say, get back into the green. But I think that's a ship that's sailed. So MicroStrategy was profitable in 2019. So these were profitable. Yeah. But I'm saying like no one like, you're not going to see $500 micro strategy on the soccer. Yeah. That's what I mean. Right. Boomers in the chats saying to you like the SEMLERS cashflow positive.

Like being cashflow positive is not like equity markets want more than that. I agree. It just shows they have a healthy business. Yeah, exactly. At least for the time being, the snapshot. It's not necessarily a business you want to invest in. One thing to note is GameStop is not a franchise. All the stores you see are owned by corporate head office, whatever you want to call it. One thing in a perfect world, I don't foresee this happening, but in a perfect world, if you see the United States say you could spend Bitcoin without paying capital gains is considered

to be a currency like a USD, then using USD, sorry, using Bitcoin to purchase games and whatever else you buy at GameStop would be wonderful because that would be one way they could have started accumulating Bitcoin without really doing anything. And then it just be, it's not going to happen because Bitcoin right now, you have to pay capital gains. But another thing, because they have a fair number of stores, I'm wondering if there's going to be an opportunity for them to at least promote Bitcoin to customers through an ATM. If they could probably make a,

an agreement, some sort of partnership with one of the ATM companies out there. And so put up these in their stores or many stores out there. It could be a way to promote Bitcoin. Not that people are unaware of Bitcoin as it is, but another opportunity to onboard, I don't think it's a bad thing in the end. I don't know if it's going to happen. It's more-

Yeah. What problem does it solve? I don't think it solves any problem. It's just a nice to have more than anything. Yeah. Well, they're not in the position to be getting nice to haves right now. Well, I'll give you an example. Now, you being a company that deals with ATMs, Bitcoin ATMs, now you see GameStop is doing this move. Would you approach GameStop and you say, look, let's do some sort of agreement. I'll pay you some money to put my machine in your stores. Why would GameStop say no? It's now free revenue for them because they get revenue.

They wouldn't say no, but no competent Bitcoin company is going to do that in a GameStop. Why? GameStop is not a business that's seeing any customers. People don't buy games physically anymore. And by the way, even the games,... If you go to get a game on release day, it's not the same as it used to be. There's no special posters or anything in the base... I want to say base model, but what is the word I'm looking for? Without buying the Deluxe Edition or whatever, you're just basically getting a case with a CD where you have to download the data anyway. It's basically a CRM license in a box. So people are kind of, I don't want to say wising up to that.

I think they have wised up to it. And this is why brick and mortar game stores are closing. There was a GameStop, not far from me actually, that closed down probably two years ago, three years ago, something like that. Yeah, in University Plaza. Yeah. It's definitely trending in the wrong direction, no doubt. But I'm not here to try to show it. And I would recommend it. And this is totally off base here. If you're going to buy a game, I prefer the physical copy because in the end, if you want to sell it, you can. If you have the digital copy only, you're stuck. And quite often I've sold off games because I had the physical copy and it was good to have. So that's just my two cents. I prefer the physical.

It sounds like Joey prefers the digital side of things. Yeah. That's probably just enough of a gap between us and age that you feel that way and I feel this way. I like plugging in my cartridge into the house. I want to blow on that thing before I plug it in. Okay. So home miners out there, there's a lot of them watching, listening to our show. Take notice for this because something very interesting. We have a new ASIC, a new miner called Avalon Q. Seems like they're kind of taking aim at, or at least taking some of the things from the cold cart.

The cold cart queue. They got the Avalon queue. Like, why? They got the queue. Anyways, maybe the queue from Star Trek. This was debuted at Mining Disk Drop 2025, so just last week. The Avalon queue, very interesting. It offers up to 90 terahash per second of hash power.

Ninety terahash. OK. Yeah, so like an S 19 J will J Probe will do 95 terahash, for instance. Like it's it's decent, but it's like the amount of terahash. It's not astronomical, but it's good considering the rest. Yeah, there's adjustable consumption of electricity between 800 watts to 1600 watts. light bulbs should be coming on people's heads just from that, making it adaptable to standard home electrical systems. They say that this is

the first professional grade Bitcoin miner to support 110 volt for people to use here in North America, the consumption or let's say the efficiency 18.6 joules per terahash. And that is okay. I mean, it could be better, but it's still pretty darn good. It operates at just 45 decibels. And this is they say this is similar to a quiet library. Hmm, so this, you know, if you're gonna do home mining,

you're talking now 95, sorry, 90 terahash, 18.6 joules per terahash, quieter than a library, it's pretty darn cool. Not only that, it runs between minus five Celsius to 35 Celsius, so it's a pretty wide range. So you could even just plug this in your garage, for instance, if it's rather cold, it'll probably warm it up and it will just run just fine there. Now here's the kicker. It's 1600 USD right now is the preorder. You could order it while supplies

last. It is rather expensive, but over time, this equipment doesn't- The Avalon Q, hold on, hold on. Avalon Q. So it doesn't stay there forever in terms of the price. You can expect this to drop over a period of time to what, I don't know when it's going to reach that, whatever it is, but it's giving us opportunities now to mine at a decent tarahash rate quietly without using Loki kit. And I just have to go any further. Jer on discord was talking about the Loki kits. This is his investigation, not mine. He says, I'm just quoting him.

Every engineer I've spoken to has said the same thing. That's gonna burn your house down. He says there's too much current slash too hot. And he says, if you spend any time in mining chats, you'll find that almost every home miner using machines that were designed for three-phase power has a story about fire. I recommend one or two if you travel a lot and use hotels or Airbnb but not your own house.

I love that he's willing to burn down hotels and Airbnb's but not his own house. I like that but this just goes back to the Avalon Q. I suspect it's going to be designed specifically for the three-phase power which is what you want. I like this. More opportunities for us to buy something rather expensive. Yes, but wait out this is going to drop in price and maybe just maybe one of us could get it in a not too distant future. Does it offer a statistically greater chance to hit a block solo than a couple of bit axes would, or just a greater chance on paper?

Like is it a statistically significant jump in your opportunity to hit a solo block? So probably like 45 times greater, or maybe a little less. So probably not then, statistically significant? Nobody's buying it with one machine. So this is the question, right? Like who's buying this thing?

No one is buying and racking these in the industrial mining space. If you are now to put this and attach it to a pool and you're going to get a steady stream of say 4,000 SaaS per day, I'm just throwing out a number. I could be wrong with that number. That's not too bad given today's network hash rate and the having we had a year and a half ago, a year ago, whatever the fuck it was. And it's not too bad. You're getting like 4,000 sats per day. Now how much is electricity? Is it cheap? Is it 93? But you said this is about equivalent to an S19J. What do S19Js go for now? Are they...

400 bucks? So like you're going to hit your pool with this thing, you can just get an S19J. That's 220 volts, the difference. And then it's extremely noisy. Your pool shed has a 220 in it. It should anyways. It should. So it works great for the pool shed if you're trying to heat the water for that five...

I'm not trying to poo poo the story. The point I'm making is like, again, I'm having a hard time thinking about who this is for and the people who buy this, it's kind of aesthetically okay. It's not great aesthetically. It honestly looks like one of those Dell business line machines. So it's not like something super nice to look at either. Where I think about the brains miner that just came out, that's also underpowered for the price, but looks neat.

At least nice big screen. It's kind of a, again, conversation starter. I always think that's cool. But if you're mining to mine, you wouldn't buy this. If you're mining to heat, you also wouldn't buy this. So who's buying it? And it sounds like you might burn your house down on top of all those things. No, not with this one. This is not using a low key. Sorry. You know what I mean? Yeah. Right. So people that are using low key kits and shit like that on under S-19s, I think this would appeal to them if the price comes down enough that it's then you can compete against the S-19 plus the low key kit because you have less opportunity

or it probably less have a chance to burn down your house, which is really what you want to do. Like those, you know- Statistically less chance? I think so. But I have nothing. Again, this is a lot was what Jare said on Discord, which by the way, you should join our Discord if you haven't already done so. The link is below. Check it out. So yeah. Yeah.

Great. All right. Remember the ETF WGMI? We are going to make it. We're going to make it. Yeah. This is the Coin Shears, Valkyrie, miners ETF came into existence February 2022. Yeah. And they say that was the goal to provide investors with exposure to Bitcoin miners out there. So for companies that have at least 50% of the revenue or profits derived from Bitcoin mining, those are the ones that make up the basket within that particular ETF W G M I. Well, it looks like the ETF is or was the worst performing US equity ETF for this

year of 2025. A screenshot was posted on X that confirms this and it was from a Bloomberg terminal. So, you know, somebody had access to all that data. And what did they do with it? They decided that you pointed to, you're gonna make it ETF. So yeah, I don't know what else to say. It's just the miners out there. How about change the ticket to RIP and be done with it?

You shouldn't be, I don't understand the rationale for owning mining stocks. I don't, I really do not understand that. And WGMI as a basket is out of your control. You're paying a management fee. Just buy the miners if you want. There's not that many of them. I understand that's cool as to WGMI. You're getting like an I-RAN or a BDF. I think honestly, it's just a dumb thing to buy. I'm not a mining enjoyer anyways on the equity side, but-

You're a home liner now with the bid-ax. You're at least participating in that type of thing. But I would never buy a mining equity. How many times have we talked about how the mining business doesn't make sense from an equity point of view? Unless you're one of these companies like Iron, that I would argue and have argued on this air, that these guys are mining only as a hobby when AI compute is not in demand and they're actually AI slash energy companies. That's really the direction you would want to go if you were buying those things. So, yeah, Lea Wald now running a Solana fund. These people all expose themselves. They all turned out to be kind of just fly by night.

It's too bad. Wait, what happened? This is news to me. Brief me. Yeah, Lea Wald was the CEO of Valkyrie. And they lost a couple of good people. Boomer's in the chat saying this. But she's on Solana fund.

This is the news that I'm... She's running a Solana ETF, it sounds like. Yeah, or Solana investment fund. And they've lost other people too. Josh Olshawitz, who goes by Carpe Noctum on Twitter and does a good YouTube channel that I watch every Sunday and Monday. He does set up Sunday and macro Monday. It's good. It's part of my research for this show, actually. I looked at his exit from WG Air, from Valkyrie as as well and just wondered, if you're losing good people like this, good Bitcoiners, it makes me wonder what's going on behind the scenes. I don't know.

If you've ever seen Leah talk on a podcast, I don't want to say she's not smart. She obviously is. But it's not the person I'd be like, man, this girl could lead a company. We tried to get her on the show. Her and I traded DMs like three years ago and I kind of just forgot about it until just now and Boomer brought her name up. But yeah, um, you know, she, and now she's doing something that we do not, uh, we do not support on this program at least. Um, yeah. You know, also we don't support doing these types of things. Luxfolio came over with some information today.

Oh, fuck. I sent Len this thing. I love Dean Linden, but this is not Dean Linden's. But he's not there anymore. I know. I know. I'm going to pull it. Whatever happened that Larry King lookalike too? Remember that guy? I do remember that guy. That guy was great. That's such good CBP lore. That whole like, it's just so great. I can't believe that. I'm going to just... Yeah. Well, for people who are unaware, Luxfolio used to be primarily a Bitcoin miner. Then they went tits up some three years ago, give or take. And they've just been hanging

around. I don't know how, when they declared bankruptcy, they were still able to be publicly traded, but this year they already still have... Yeah. And the news today came out that they have announced a Litecoin treasury strategy. The first that I've ever heard of Litecoin. Like, why did they say, you know what, you have an option. We can get gold, Bitcoin. I know, let's get fucking Litecoin. That's right. That's right. I got that. It's not as heavy as gold. It's definitely not as heavy as fucking Bitcoin. It's very Litecoin. This is actually, this is deranged demented behavior from these guys.

How do I get back to our old setup here? There we go. There we are. Yeah. I don't understand how they decided that Litecoin was the thing to do with the treasury strategy. Is anyone anywhere doing Litecoin treasury? No, this is the first one I've ever heard of. I've never heard of it before. Luxfolio followed me on Twitter today, which is why

I even noticed that. And I now half expect that I'm going to get a message from these guys at some point to try and come on the podcast. And like, what am I going to say? Like, yeah, sure, you can come on and it'll be when they come on to do the And like, what am I going to say? Like, yeah, sure. You can come on and it'll be when they come on to do the interview, it'll be me and Dean. The lives of them, they're following a bunch of folks because this news came out today, this morning at 8 AM. So Eastern time. So they must have been, oh, let's fucking follow a bunch of these people with hope of getting this thing spread out there. The news spreading here, we're fucking spreading it, unfortunately. But what a fucking're spreading it unfortunately, but we're joking.

I was reading news that pretty soon they're going to be getting their cheek spread over there. It's not a great situation. It's too bad because Dean really did basically build that company from nothing through Cypress Hills Partners. Then they just went the wrong direction after he left a leadership role there. So you make it at what you will, but not great.

Not great. Dean was on not too long ago, but he was on a show. I think he replaced you. He co-hosted for me when I was, what was I doing? I forget now. Were you on your honeymoon? Maybe no. Was I? I can't Maybe. No, was I?

I can't. No, it was after that. It was after that. I think I was probably at the cottage or something if I had to guess. Okay. Yeah. Well, maybe not. I don't know. Or vacation? Maybe. I'd have to look back.

Dean's welcome on this show anytime. Anytime at all. Yeah. Yeah. Some guy posted on the Bitcoin subreddit and he posted a fabulous reason. It was a video as to why it is we should buy Bitcoin and not post not park our money in a bank. And this bloke from the UK was trying to get his money out of his bank. Twenty five hundred pounds was trying get, and he was going to

use that to buy a motorcycle. All right. But the bank put restrictions on his account from withdrawing money, so he's unable to fucking get it. So he was in one of the bank branches talking through the speaker of the phone to one of the head office folks, trying to resolve this fucking issue, just trying to get his fucking money. He worked for it and he put it inside the bank hoping one day he'll be able to get it. You know, they're benefiting from holding on to his money.

They're investing and doing whatever and they're giving him that awesome 0.05% in fucking in interest, which is great, but either way, it's fucking bullshit, right? So you see stories like this, it shows you why not only we Bitcoin, but it creates a whole new Bitcoiner every time this happens. When somebody gets the shaft like this, when they say, I want to get my money in the bank says, no, we can't give it to you. The fuck do you think they're going to do? They're going to say, Oh, I like this. Without any reason too, the video is like kind of jarring. They you think they're going to do? They're going to say, oh, I like this. I'm never going to change. Without any reason too, the video is kind of jarring. They're talking in circles to

the guy and he's just losing his mind. It's my money, except it's not actually your money. That's why... Please keep doing this, bankers, bankettes, bankies, whatever the fuck you guys and gals are. Bankies, that's good. Like tankies, but bankies, that's rock solid. Bankies, that's good. Like tankies, but bankies, that's rock solid. Bankies. Keep doing this. And the more you all do this, and I know you don't have their money, you gave it away to somebody else or lent it away to somebody else. That's probably a better way to say, just keep doing this because every time this happens, you make another Bitcoiner. A Bitcoiner is birth. And generally once you become a Bitcoiner, you don't stop becoming one.

You just start talking about it until other people are just blue in the face and they don't want to hear from you anymore until they get into the Bitcoin train. So keep doing this. I love stories like this. I feel bad for this guy that he couldn't buy his motorcycle. Like, geez, it's a good time now to get it. In the next six months is going to be a fun time to ride over there. But oh well, bus for him.

Maybe. Maybe. I can't even afford that if you can't fit his money. Yeah, if they don't lock his ID next over in the UK, total gong show and that part of the world there. You see that the UK banned ninja swords? Yeah. Like what the fuck is going on? Yeah, we talked about this and that's as far as I'm gonna go I cannot believe that people over there are just looking at each other like yeah ninja swords

We got a ban though. It's like the ninja swords aren't the problem. Okay, that's all I'm gonna say You guys have to figure that out over there ASAP. I do love that in the telegraph this morning big headline No free trade without free speech From Trump in the White House to the United Kingdom, which is way overdue in my opinion. Remember Celsius, the blow up that took place in July, 2022? Do I? Ryan.

The fuck? Alex Mashinsky talking about how everyone everywhere can get 7% forever. And for the first time ever, Peter Schiff and Saif-Adina Moose, both looking at the guy in unison going, what are you talking about? You're never going to see those guys wearing the same jersey except for that moment. That was an all time moment in Bitcoin lore. They asked some very hard questions to Mischinsky and he wasn't able to provide it. An answer that satisfied everyone. And sure enough, a few years later, I think that happened just two or three years before everything happened with

Celsius. Anyways, Celsius was whole was part of the whole Bitcoin dive that took place in twenty twenty two. And for those who don't remember, Celsius was offering extremely high interest rates on. Digital asset deposits. And that was far exceeding what you were getting at a bank. So in trying to incentivize people to park their digital assets at Celsius

and then generate those returns, Celsius had to engage in risky and complex investment strategies. So when you do that, eventually things work well until they don't and they didn't in 2022. There was a bank run that took place and that was part of the Terra Luna blow up. And well, people couldn't withdraw their funds and here we are.

So now the corpse of Celsius is still out there. They're trying to file and they have filed a lawsuit against chain analysis. Have you seen this one? Is this story? Yeah, I just want to note here Celsius still trying to get people who withdrew coins before the blow up to give all the coins back through legal means. We had, I don't know who it was on the show. I don't want to say the name, but talk to us offline that they received this morning. You might recall them trying to intimidate people into giving coins back because they saw the writing on the wall.

Get fucked, man. These people, there's a special place in hell for these types. Well, it's getting even more scummy with Celsius because they're saying with this lawsuit with chain analysis, I don't want to defend chain analysis at all, but I'm trying to say the, what they are doing here is rather pathetic in my opinion. This lawsuit is all about an audit that took place in 2020. And Celsius is saying this may have been misleading because the audit confirmed that Celsius had 3.3 million in assets, and Celsius is saying that is utter bullshit. Who did the audit?

Chainalysis did that. They did it? Okay, all right. Yeah, through their reactor tool. And through that, they were able to figure out that they had this amount. And so Celsius is claiming that was misleading customers, potential investors, and the industry as a whole. And the lawsuit talks about it was fraud, negligence and unjust enrichment.

The fact that they're saying this when they're the ones that, so Celsius claims that the reactor tool, which verifies transactions cannot be considered a full financial audit. But the whole thing is rather funny because a partnership was established between the Celsius and Chainalysis back in December 2022. So they did the analysis, they did their audit, and then a partnership was established between those two. After, you know, they thought, oh, this might have been funny. The audit was done. Nobody said anything about it until now. Even fucking Alex Mischinsky said, he described the audit as saying, quote, great step in

building greater trust and transparency, end quote. So they liked the audit at the time. The CEO was saying this is a great thing. They even went ahead and created a partnership with them. And now they're saying the whole thing is misleading investors and give me a fucking break. But you know what? This shit, Celsius is a piece of crap for doing this kind of stuff.

They've been, look, as you mentioned, they're going after former customers of theirs to try to get access to their funds so they could help out paying off the debt that they owe. Look, if you're gonna deal with anything, so they could help out paying off the debt that they owe. Look, if you're gonna deal with anything, deal with yourself. Buy, hold yourself, don't do this kind of bullshit. If you do, this is what's at the same,

you play a stupid game, you win stupid prizes, and here's exactly it. I don't know, it's all bullshit. What's the excuse for all this? You know, and by the way, when people say, maybe, I think it's malice at some level, I don't know. It's all bullshit. What's the excuse for all this? By the way, maybe, I think it's malice at some level. The thing when people say that the government needs to regulate these spaces, I hate that term but I'll use it here.

This is why. Bitcoiners generally don't play in games like this. I think the furthest most of us went was let in. Let in by the way, it's still functional, still operational, never a problem. And you look at guys like Mashinsky's, there's a couple of big moments leading up to that blow up like we talked about earlier and now Chainalysis, another company who, by the way, sometimes says that their tools are foolproof, other times claims that their tools are sort of a best guess type thing. Suddenly they're kind of a Schrodinger's cat of on-chain analytics. This is all just the worst people and companies in Bitcoin altogether ripping people off intentionally

or otherwise, just causing more problems for people. It's been three years now, you've watched the price of Bitcoin. Imagine you got rugged in Celsius's blow up. You've watched the price of Bitcoin go to $120,000 or whatever, to whatever did $110,000 and you're still sitting around getting letters or emails threatening legal action for pulling some of your money out and not being able to recover your other money. And now these guys are playing more games with you. This is just nonsense. I'll be so happy when we're done with this and people can say all they want about stuff

like the ETFs and corporatization of Bitcoin, but it's going to prevent stuff like this from happening in the future, I think. That's my feeling. I don't know if it'll be true, but I think that it'll probably lead to a cleaner ecosystem for a lot of participants. It will work until it does, enjoy, until there's finally- You're right. I can't argue with that. Can't argue with that. Yeah. Do you see Vitalik and that fucking toy dog? The robot dog. Yeah. I can't imagine having your wealth. People in Ethereum land wondering

why no company is adopting an Ethereum treasury strategy, why ETHBTC is heading down to the right. Look no further than your thought leader in between sending out tweets talking about he's the man in charge, sniffing the ass of a robot canine on some showroom floor. Was it a robotic show or something?

I only saw the video once. I just laugh and continue pinching my loaf, but I can't imagine that people in Ethereum are thrilled about this. We talked about the bankless guys. The bankless guys are really finding, I think, new lows in terms of the vibe over there every week and stuff like this can't help, can it? Can't positively contribute to how you feel about Ethereum at the moment. I don't think selling off, I'm just speculating here. What is the price of Ethereum right now? Is it under $2,000? It's got to be, right? With respect to the price versus Bitcoin, it hasn't been this low

since before the merge and all that stuff, whatever happened in place. So it hasn't had a very good two or three year run against Bitcoin. It's $1,826 Ethereum. That is brutal. If I had to speculate, that's bad. I mean, compared to other assets, probably it's doing well, but compared to Bitcoin, it's doing shit. I don't know. I'm just going to speculate. But further speculating here, it's got to be because they're flooding the market with ETH and who's the one that has the majority of all had it. It has to be the ETH Foundation or the people. So they're just continually selling and you can't audit the supply too. right? Like there's a lot to this.

You have a centralized body that controls it. They pre-mined a bunch and they're able to arbitrarily roll back the chain and you can't audit this shit. There's so much garbage on this. I don't understand how anybody could look at this and say, yeah, this is a great place for me to store my wealth, my time, my energy, my effort. No fucking way. Find something else that's better. Look at number one. It's number one for a reason. It will remain number one for fucking a long period of time. So

yeah, it's good. And nobody's sniffing your fucking toy dogs and doing... Did that resolve their leadership turmoil, those guys, I really, I have no idea. Honestly, they have it. I don't even know. Joe Lubin like tweeting about this a little while ago. I don't know. It's all just so yeah. Lou before you put it in, I guess is what I would say if you're, you know.

Now Eric Trump, I got to ask you this question. Yeah. How much sway does he have with the old man? Is he like- I don't know. Are we about to talk about Bitcoin mining investing? The American Bitcoin thing. Yeah.

You heard about American Bitcoin or at least- Yeah. It came out today. Yeah. Apparently there's going to be some- They're making an investment in a mining company, rolling it into ABTC, right? Yeah. It's going to take place. There's going to be a presentation April 1st, 830 AM Eastern. And it's going to talk about their co-founder, Eric Trump, and also talking to the people

at Hud8 as well. It's hard for me to figure out what the fuck's going on here. Same. They say that they're going to be starting off with 10 X of hash per second and plans to ramp up to 50 X of hash, excuse me, and beyond. I have no idea. But, but, but if there's a connection here with the old man, I mean, that's simply not just with the name, but if the story is that he's investing with Donald Trump, the Bloomberg headline was that he's investing with his father, his father's the president. I don't know how that's possible, but that's the plan, apparently. And they want to start a strategic Bitcoin reserve. How are they going to be accumulating Bitcoin? I'm not saying they're going to be doing it through this way, but it's just interesting to see that

there's something going on here with Bitcoin. And it's hard for me to figure out exactly what it is. It's going to take some time for me. I don't even know what the fuck this truly is. Is American Bitcoin, I don't know what the structure is, the new company. I know nothing about this stuff right now. It feels like it's like an acquisition company maybe. It could be. Yeah.

I don't know. It's funny. Like when you think about the current administration, the ties to Bitcoin, the kids, right, the kids, right? The kids are all tech savvy. You know, they're doing the shitcoin stuff. They're out there talking about Bitcoin. They're talking about crypto. They're talking about all this. Then you think about the guys that are at treasury and commerce, right? Lutnik and Bascent, both are Bitcoin bulls. Lutnikick especially has a huge Bitcoin bag.

Then you'll get the comments from Larry Fink in the BlackRock quarterly deck. I think it was the quarterly deck or the yearly investor deck that was released earlier this week talking about if the US doesn't get their spending under control, the dollar risks being replaced by an asset like Bitcoin. You gotta wonder if they are all just positioning because they think that it's going to go this

way regardless and maybe in their current position as administration officials, they can influence that outcome and speed that outcome up. Could be that. What I'm really curious about is what companies are they talking about in this announcement? Who's going to be there tomorrow at 8.30? And maybe most importantly, how are you going to involve Donald Trump in this from the White House seems to be a difficult thing to do given the rules about like, you know, selling your assets, you know,

with no tax penalty, et cetera, et cetera, when you take public office or are appointed to public office at that level. So we'll see. But those kids, you know, for all the shit they get, they get, and they deserve a lot of it to be honest with you, stuff like Trump and Melania coin, obvious scam and grafts, like the Trump sneakers, Trump, whatever. Trump sneakers. Hang on. I got to check and look at this thing. You never saw these. Oh, you're going to die. Yeah. Like these guys are obviously, they know how to make money off of their very loyal base. I'll give them that. Holy fuck. $450,000. Surprisingly, there's some

in stock. This thing, at that price, in this economy, this is a bit of a different beast, the Bitcoin thing and the mining thing. And it has implications because if we think about the language that was used for the reserve, it was, what was it? Budget neutral ways to acquire Bitcoin is mining to increase baseload energy and having a buyer for baseload energy in certain US jurisdictions under the guise of, I don't know, national security. You want Washington, New York, Chicago, Boston, whatever, to never have a problem with power.

And so you have additional base load that these guys are just quote unquote buying and mining with. Is that budget neutral? There's a lot of things to think about here, and I'm not saying that maybe that's too clever by a half from me, but I think it's possible that they're gonna start looking at this stuff

because you could sell it. And say what you want about guys like David Bailey and the Bitcoin magazine team and whoever else is in Trump's ear. But those guys have been saying the same thing for a long time, right? Like David Bailey, you might not like the conference, might not like the magazine, fine. But he does agree with stuff like base load power and Bitcoin mining having a potentially harmonious relationship, right? Like offering some simpatico in these regions where you get brownouts during winter storms, for example, or whatever else. So we'll see. It's interesting that this is going on. Even more so than they announced it early and didn't really say much, honestly, as far as I can tell. Well, tomorrow we'll have a lot more

information with respect to the makeup of the company. I like P-Man is saying that Trump is taking a page out of Kiss' marketing page, put their name on everything. Gene Simmons is a marketing genius and a marketing whore. So is he going to kiss the band or keep it simple, stupid? No, kiss the band. Okay. All right.

So yeah, there I saw Kiss was the first concert I ever saw, by the way. Like actually kiss or like what is it? I saw them at Cox Coliseum. I was in grade five. Wow. It was also the first set of female breasts I've ever seen as well. Yeah. Wow. Quite a night, quite a night. Yeah. I still remember my parents having a heated discussion about whether or not my brother and I should have to wear earplugs. We ended up getting

earplugs to Shoppers Drug Mart on the way there, I think. Motherfucker. Yeah. Yeah. I don't think we Mart on the way there, I think. Motherfucker. Yeah. Yeah. I don't think we wore them the whole time. I think we started with them in, and then my dad just let us take them out. It was just the three of us. My mom didn't go. But yeah, it was quite a show. Quite a show. Glad I saw that. Joey, I think we should end it with a 51-50. We went to the same amount of time anyways. Just about, yeah.

Yeah, it's all right. If you're on audio, come back tomorrow. If you're on video, Twitter, whatever, stay here. We are not going anywhere. We got lots to talk about, including Canadian election developments. So hang out, and we'll talk to you soon. I'll be a cock.