The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Liberals Anoint KING CARNEY, US Crypto Council, El Salvador Keeps Buying | The CBP 206 Pt 1 (Bitcoin Podcast)

Episode Date: March 11, 2025

FRIENDS AND ENEMIESThe Liberals elected MARK CARNEY, the EU plans to launch a CBDC in Oct 2025, Ontario tacks on tariffs, the digital asset summit has Bitcoiners riled up. and MUCH MORE on the docket this week. We'll dive into all the latest and greatest in Bitcoin and Canadian news, see you then!-----------------------------------------------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 today a very special CBP episode. There was some king making done on the weekend some CBDC news What else? I don't know. We've done a lot of stuff here today in the last a lot of stuff in the last few days It's been busy then what's going on? Are you ready for tonight? How do you feel? I gotta change my tag here. My tag is still the access of easy tag. What should I change it to? I'll decide will you give your intro? My tag is still the access of easy tag. What should I change it to? I'll decide. Will you give your intro? Silence it's fucking good. Joey what I'm interesting few days We had isn't it and now we have a new leader for the Liberal Party

It looks like we're gonna have a new prime minister not too distant future Followed up by an election shortly thereafter. So it's gonna be very interesting What's gonna happen next a little while and on top of that so we change the hour I try to change the time by an hour so yeah that's what happened and almost instantly as we did that it turned into spring it's like a light flick and it was switched and the Sun is shining the weather is better more daylight so at least longer it appears to be longer so it's just it's awesome right like it's just, it's awesome, right? Like, it's just, bring it on.

Summer is around the corner. The winter that we were experiencing in many respects may be coming to an end. The winter of altcoins is never ending with the winter of this, the solar cycle is coming to an end. I was just outside with my wife and daughter, We went for a walk here before the show started. There's a woman probably a little older than me, I guess, like in her early to mid forties jogging in what looks to be like a four inch pair of shorts and one of those like running tops that has the heart monitor plus the, it's like, I don't know what you call it.

It's like a posture thing that keeps you upright. It's like strapping your shoulders back. I don't know if it's that warm. I think it's like probably 15 degrees outside, but, um, you know, good for her for getting out there. It's like strapping your shoulders back. I don't know if it's that warm. I think it's like probably 15 degrees outside, but, um, you know, good for her for getting out there, she's really done with winter. I was out with shorts, just three inch shorts and a tank top is

I was shorts and a hoodie and it was like very comfortable. Yeah. Like that as long as they stay in the sun. And once you get in the shade, it would get to be a little chilly. It's considering there's still lots of snow on the ground. Yeah. Depending on where you are. Slowly but surely it'll, it'll, it'll fade.

It's starting to fade. Let's, um, let's get into the show. We're going to do the sponsors first. Easy DNS. I bought, uh, a domain on the weekend. My dad. Yeah. I have nothing to talk about on that front, at least for the moment.

But- Did you use the promo code to get 50% off your initial purchase? I did it. I thought that was kind of cheap, so I didn't do it. I paid the full price. But you can use your promo code, the CVP media promo code and get 50% off your domain. You can't beat it. The process was really easy. You pick the domain you want, you pick the suffix you want, and then you just buy it. I think you actually save money too, Len. So I bought it for a year, but did you know if you buy for like two years, three years, four years, five years, you save a gradually increasing percentage of the total? I didn't know that. And so when I bought mine, I just

bought it for a year, did the automatic renewals, done and done. So as long as I don't change my credit card number, which is to say, as long as they don't get scammed by an Indian call center sometime in the next year, I should be fine. It'll just renew on its own. Not to mention, of course, you can bring your own domain over to EaseDNS if you want. Why would you not do that? I don't know. If you have a domain somewhere else, you're crazy. You should be doing it with Mark. And then of course, for the Bitcoin enthusiast, Len, they got all the virtual private service stuff you want. You can run a Nostra relay, Bitcoin node, node disimplementation. You just spoke to UTXO

last week actually, I believe. So you can find out more about what he's up to these days, not node list, but other stuff. Anyway, EZDNS has everything you need when it comes to domain and registrar. And Mark is your guy if you need something like that. Go to the website, ezdns.com, use the promo code CBPMedia. 50% off your first round of buys. I'm considering buying carnival.io. Is it too late? Is it too late?

See if it's there. If not.ca.whatever, right? Like whatever. .win, is.win in suffix? I'll find out. Go ahead. Who's the first? We always win.

Yeah, look, I'm looking at the Moscow time behind me 1256 like that's Pretty cheap if you ask me but and that nfa, of course because what I'm talking about is buying bitcoin and who are you gonna? buy bitcoin with Strictly by if you're in Canada with bull Bitcoin why non-custodial these are the guys you want to deal with because they're not going to hold on to your Bitcoin. Lots of stories of people getting rugged when you buy and have somebody else hold on to it. These guys are not going to do that because once you do the buy in order to finalize, you have to provide a Bitcoin address.

And you want a non-custodial exchange to do business with. Also, if you're not just want to buy, you could sell. Maybe it's a good time to sell. I don't know it's your choice but bull Bitcoin will be happy to facilitate that exchange and you could do it not just with Lightning but on chain. On chain is very cheap these days continuing to do that but Lightning is an option for people who do want to delve in that as well. A couple other things you could do with bull Bitcoin. Number one you could start spending your Bitcoin one of two ways. You could pay your bills.

But again, like I mentioned, price of Bitcoin not very high. I'm not sure who would want to do that right now, but the option is there. Also, you could buy gift cards so you can start spending your Bitcoin indirectly in the real world. But again, price of Bitcoin not very high compared to last a little while. Maybe you want to hold off on that just a little bit. Either way, lots of different options for bull Bitcoin. Check them out.

Open an account. Use our promo code below, our referral code. And if you do that, $21 added to your account. And not just that, they're also in Europe. So they're invading the other side. So I'll leave you subjected to digital euros though. I love it. Okay, so a couple of things.

One, HODLD just sent me a text pointing out that the Twitter feed is not working. So if you're on YouTube, tell all your friends to come to YouTube instead of going to Twitter. Uh, I will do the same. I'll send out a tweet. The, the, the service has been under attack today. Did you see this? This story about, uh, that Ukrainian IPs, I mean, you can originate an IP anywhere, so it's not necessarily an

indictment of a Ukrainian person, but responsible for a massive coordinated cyber attack. Nation-state level Papa Elon claims. What do you make of that? I'd like a little bit more details surrounding this. This is obviously very preliminary. Until they do it in a thorough investigation, I guess we can point fingers. But let's not incriminate people just yet. Let's find out what the world's going on. This show incriminates people early. That's what we do on this show.

We are the incriminating. We're the incriminators. That's who we are. We're gonna get the sure incrimination operation over here is what the problem is. So here we go. That's it, incredible. And it's been like that for a while, right?

Like it's been that, like that since this morning at our time. It's been shady. I usually use, right? Like it's been that like that since this morning at our time. It's been shade over. I usually use grok a few times a day. And this one's been kind of, yeah, it's been hit and miss today. So I don't know. Not great. So Elon either has to beef up his security

or piss less people off, maybe a combination of the two. Because what's going to happen if you, you know what? This is just a shining example. What are the alternatives out there well there's a decentralized one that seems to work all that well and it doesn't seem to go down Nostr check it out working right now let's do some boosts always working do you want to do boosts yeah that's why I said let's do some boosts I got a couple I got to get after Jare. He does this twice this week.

2,000 sats each. Number one he says I hope Igor never shows up. Hashtag Glenn did not kill himself. I did not. And number two, Jare writes 2,000 sats. He says great rip with two legends. that's with me and UTX Oh nice and Yeah, it was a fun rip and I hope a lot of people got exposed to nostril and started using it look looks at what's happening with Twitter acts, so that's a Shining example why you'd want to find something else that's decentralized that somebody doesn't own and control the platform that somebody that doesn't own and control the platform, rostered is. Totally. Maybe a little bit more difficult to use.

Heck, Bitcoin kind of fits those things, right? And Bitcoin's not that easy to use, a little more challenging, but you could always get access to it as long as you have internet access. Totally. Good for you. All the same. If you haven't listened to the UTX interview, you should. He's been on the show twice or three times now? Twice. Okay, yeah.

Always a popular guest. The shows with him get a lot of good feedback and this one's no different. So if you haven't checked Twice. Okay, yeah. Always a popular guest. The shows with him get a lot of good feedback and this one's no different. So if you haven't checked it out yet, it's definitely worth your time. And this Wednesday, I'll be talking to nuclear Bitcoiner, aka Ryan. Nice. And it's going to be a good chat because also today, there has been some movement in the front of Ontario Energy and they're going to be tariffing or putting

tariffs on the electricity that they're exporting to the United States. 25% is going to be imposed on that electricity. So good chat with that and we'll see what else is up the nuclear side of things. Looking forward to that. Do you have any more booths? No. No. Okay.

So this week, yeah, Ryan coming through on Wednesday, that's going to be hot. I was on, I'm sorry, I wasn't on. I will be on the Your Life, Your Terms show this Wednesday. So I don't know when that comes out. That should be fun. And I think that's it. Do we have anything else? AccessVZ, if you haven't checked out that podcast yet, definitely go check it out. You are now listening to Bitcoiners talk about cybersecurity thanks to this Lazarus Bybit thing. And Len and I have been talking about Lazarus and other cybersecurity topics for the better part of two years now for access of easy over on the easy DNS network there.

It is, it is critical that you learn this stuff before you get sniped by one of these hacks. And there are tons and tons and tons and tons of ways this stuff is going on. Not only in your personal life, but you life but like we always talk about in the DNS read, your website might not be secure, your email might not be secure, your phone definitely not secure. All these things, right? Telegram, WhatsApp, Signal, you name it. You never know how many different ways are out there for you to get got.

And people are getting got more and more it seems like. So definitely check all those things out where do you want to start you want to start with I guess we'll start with Bitcoin news but there is a big story on the Canadian side you will wait till the back half to do yeah so we will cut the we'll cut the Bitcoin side a little bit short because that Canadian stuff may drag on a lot longer so the Bitcoin stuff the biggest one obviously is the Bitcoin strategic reserve like I yeah I can't like I have to say I wasn't expecting this You you are the you are the flag the flag bearing

Bear when it comes to all things ETF reserve government. I need to hear you say That this is better than you thought it was gonna be This way better than I thought it was going to be? This is way better than I thought it was going to be. It could have been, right? Let's be honest, it could have been a whole lot fucking worse and it was not. I can't even begin to name all the ways it can be worse, but what we have was presented to us, as long as they proceed with what they're saying, it could easily go sideways and change it.

I'm going to just base it on what they say. It doesn't sound all that bad. I mean it could be better. Let's be honest It's not perfect, but it's far from shitty. So let's let's take it for what it is I I'm actually kind of shocked that this happened. I was expecting something way worse shit coins involved And who knows what I'm writing I had a lot of different ideas but this is not too bad so the one thing I'm just shocked though the price of Bitcoin right now 79,000 so that's cheap right like you come down right I think last time I was 79 I'm trying to think when Maya was born it was in the 70s I'm pretty sure and some of my friends were giving me DAP like, oh man, new highs, blah, blah, blah. What a month for you was the Trump win, 70s.

And she was born when? October, November? She was born in November. And so, you know, I won't give you the exact date, but you can do the math yourself probably and find out, you know, it was around that 70s area. And people now are having a meltdown because in the middle of a broader market sell-off that I think is being at least partially orchestrated by the Trump administration to force rates down.

I said this last week and the week before. I still stand by that thesis. Bitcoin's selling off. Does anyone really care that we're back where we were six months ago, four months ago, five months ago, whatever it's been. Should you care about that given the rest of the news? Well, the one thing that is surprising, regardless of the care or not, is just the immediate reaction to the news. There was a sell-off. It wasn't like that was due to market condition. The sell-off was due to the fact that the strategic Bitcoin reserve came out and whatever

was included in it didn't jive with people that were quote unquote trading Bitcoin. I don't understand why. This is like the nation. Sell the news. Remember when the ETFs came out Len? There's a pretty significant drop then too. I remember talking to you and the bull guys. I was probably a couple of beers in on a Friday night and I ended up taking some money off

my line of credit to buy Bitcoin at like 41 or 42, I forget. Because that was just another example of people just, they're finicky, right? Anyway, sorry, keep going. I can't believe that they are this finicky. This is the United States. It's not like, with all due respect, it's not El Salvador making a Bitcoin move here. It's the United States, right? Like this is huge. This should have made a huge impact to the price positively, it didn't. So I say

that's actually a good thing because it gives us an opportunity to buy more on a cheap if you think that the price is gonna go up. Whatever. So the pros to like there, let's be honest, there are some cons to this, a slight cons, and I'll find them. But the pros there are there because they're saying potentially using shit coins to increase their Bitcoin reserve. I love that. That's so great. That is-

No guarantees, but the potential's there. Okay. Let me ask you, did you listen to, if you haven't, you should. Actually, I recommend everybody do this. David Sachs, you can say whatever you want about the guy. I've been critical of him at times in the past and supportive of some stuff they said in the past. He did a 15 or 20 minute interview one-on-one with Jason Kalkanis

on the All In podcast. Now, David Sacks used to be on that podcast. He's arguably the really the most popular guy on that show and probably the most successful guy on that show, including if you add Tramoth. He did 20 minutes with Jason and Jason pushed him on a couple of things that I thought he gave really good answers to. One was the difference, like you mentioned, between the crypto asset stockpile and the Bitcoin strategic reserve.

And when Calcandes asked him, you know, is it possible that what you'll see is selling of these other tokens, including Ethereum, to shore up or add Bitcoin to the reserve? And Saks said, yes, that is something we are considering doing. Huge. That's number one. Number two, Calcanus asked them, why don't we just add a crypto tax? It's very, very de minimis, the most de minimis of de minimis taxes to each crypto transaction paid in that native token.

And those little taxes, those 0.01% fees get added to the reserve and the stockpile and then the US can do what they want with them. And you know what David Sacks told them? No, we're not doing taxes. That's in lockstep with the rest of the administration's, I think, thought process on taxes. You've seen this a bunch now, this discussion about how they're going to knock down or knock out entirely income taxes in favor of tariffs and other means, right? The external revenue agency, as Trump likes to call it, is about to get formed with the internal revenue agency being deleted.

I thought those were two good questions. The other thing I thought Sachs was pretty clear on is that they are going to treat Bitcoin differently in the eyes of the law than the other tokens. There's going to be no more claims of intrinsic value made by these shit coiners to say that, okay, this thing is gonna be faster than Bitcoin, better than Bitcoin, more decentralized than Bitcoin, and then they cannot then claim that it's not a security.

That's big, because that really puts a stop to a lot of the rug pull nonsense, number one. Number two, he did also say that if you wanna to issue NFTs or mean coins as far as collectible value, you can do whatever they want. And I thought he made a great distinction that the reason to start a token and the reason to buy and sell tokens are all very different things. And Bitcoin has a little bit more of an alignment than the other tokens do, the other NFTs and ordinals and meme coins, and even some of the alts. It was a great 20 minutes.

And Sachs, when he's not worried about his politics and having to swim upstream against that crowd that's usually on All In, he's sharp as a tack. And I think everyone should take some time and listen to that. Whether you like All In or not, whether you think it's a good podcast or not, doesn't matter. You're doing yourself a disservice by not listening to the guy who is in the ear of Trump on Bitcoin policy for 20 uninterrupted minutes with a friend of his. It's very, very good and I recommend you take some time and tune in.

I've never once listened to that podcast. I'm going to send it to you. It's 20 minutes, it's worth your time, honestly, because you will get something out of it. I promise. I promise you, you'll get something out of it. Everybody will. Well, with respect to the SBR, Strategic Bitcoin Reserve, the wording they're using is interesting because they're saying it's going to be, be quote budget neutral strategies for acquiring additional Bitcoin provided that those strategies

impose no incremental costs on American taxpayers and quote that's very telling so the the fact that they weren't the or they aren't going to go out there and increase their debt specifically for buying Bitcoin. I think that is a good thing in a way, temporarily, because if they did that, that's an admission that the US dollar is on its way out. But in the long run, it probably is the right move to do, because the US dollar is on its way out. So you might as well exchange whatever value you can right

now and try to accumulate as much corn as possible. But this move just signals to the market that the US dollar is still king of the world and it's going to be for at least some time. For how much longer, who knows. One of the interesting things though, this potentially could open a door for maybe paying taxes, federal taxes, with Bitcoin. And by doing so, then it would be a budget neutral strategy because the US isn't going into debt They're just simply collecting what's their owed and in this case. It would not be in US dollars. It would be in Bitcoin So maybe that is an option that would be

Quite a bridge to cross because I think they would first have to change what Bitcoin is Well right now in the United States if you do spend it you're going to be subjected to taxes on it that capital gains tax so they first would have to address that issue and then once they do that then allowing people to pay for taxes in Bitcoin so it's possible I think there's just a lot of a lot of jumps they have to do to get there. Now with respect to the SBR there is some cons right like there are some like do we have proof that they own whatever Bitcoin they have or do we will we have proof I hope we do if we don't then it's just trust me bro just like the gold

reserves they have they claim to have I think they have the gold reserves but again I can't prove it so it's just a thought more than anything else so hopefully they are able to provide some sort of proof with the Bitcoin that they have owned or they do currently own the second question is who's gonna have custody of it is it gonna be the US government and then we talked about this last week is going to be in a cold card somewhere it'd be cool to be with hunters cocaine in the White House That'd be fucking cool right over an open dime around Trump's neck. I have you fucking mint

but yeah, that's again these are cons because I suspect that we probably may not get an answer to this which Maybe I'm wrong. I hope we get one but until they give us that answer, it just it doesn't sit right with me, but There's another huge con here By doing this this is a political move that Trump did right and Anyone that is anti Trump is Gonna look at this move and say this is something we should undo Anti-bikini and undo it, yeah. Yeah, so theoretically in four years if a Democrat

president gets elected this type of executive orders is gonna potentially be undone because they're gonna look at it it's a Trump thing anything Trump did a lot of things Trump did is bad blah blah blah and here we go so that's another thing that's it's potentially a con with this but another thing is the price I think eventually the price is gonna pump from this and that's a con for you and I Joey and everybody else out there because it's gonna make it harder for us to buy who's the US government great example maybe the best example of slow money like I talked about a few weeks ago

Put in a reserve time lock it make it apolitical through programming You just don't have that option with gold or treasuries or anything else, right? What you do with bitcoin you can set you can set the price floor this way, which is huge um Yeah, I mean look the other thing I thought was important from that conference, the Crypto Council Summit or whatever they called that thing, is that as you mentioned there, King Dollar not going anywhere, at least not in the eyes of the United States, discussion there about how stable coins will bring US dollar demand to new levels around the world

and make it easier to not only acquire and use dollars but to fund government operations that way. So it's interesting, right? There's going to be a lot of, a lot of new things coming. Again, you know, when we first started the show, we used to talk about how certain actors, certain groups, certain, you know, individuals, whatever, could manifest outcomes. And I'm not talking about, you know, your vision board in your room, your hippie university girlfriend visualizing an A on her exam.

I'm talking about, I have all the money, all the influence, and I will steamroll not only like another company, but a nation state, like an entire hemisphere of nation states to get what I want. And when Larry Fink comes to you and says, yeah, we're doing a Bitcoin ETF, that's huge. You start buying Bitcoin. When Larry Fink says, yeah, we're going to tokenize the entire economy. That's huge. And when these guys in the crypto council say, yeah We're gonna use US dollars on stable coin networks to pump demand and keep the dollar king. That's huge, too So you shout out again to Mark Goodwin Bitcoin dollar He talked about this years ago at this point and I think was broadly I hate to say it but ignored by a lot of Otherwise, I think, smart Bitcoiners.

You should read the Bitcoin dollar if you haven't. It's like a couple hundred pages max. It's a small book. I think it's like behind me there. See that little one in the middle? Can you see that? Very small. It's very blurry and it's hard to tell.

The point is the small book. It's smaller than the hotel Bible you see. And it's got a lot of good stuff in there and it's a good thesis that I think is playing out in front of us. We are living in interesting times, Len, big time. And I think for a lot of people, at this point, the anti-Bitcoin hysteria is becoming political. Like you mentioned, Trump likes it, so it must be a scam.

Like those people are retarded. And then you have the other people who say, it'll never catch on, it's just not easy enough. Like you're not paying attention to the amount of inertia behind this thing. And you have the other people who say it'll never catch on. It's just not easy enough. You're not paying attention to the amount of inertia behind this thing. And you can say whatever you want about price crashing and broad market sell-offs, risk on, risk off. It's levered Q. It's high beta Qs.

I don't care. At this point, it truly has become a situation where people who own Bitcoin no longer have to explain anything to anybody. There's tons of resources, tons of opportunity to learn why this is happening, how fast it's happening. And when we talk about the EUCBDC story later, why you should care. And if you don't care, then eat your bugs, smoke your dope, crank your hog, go to sleep and shut the fuck up. Because you're gonna get left behind. That's all there is to it at this point. Crank your hog, go to sleep and shut the fuck up because you're gonna get left behind. That's all there is to it at this point There's another thing that potentially could come out of this

There may be a bitcoin bond, right? There's that's that's the story right sailor is there mr bitcoin bit bond basically himself and I don't know. What do you think? It's right. Is it you think it's on the table? I think it's probably very low in terms of a realistic outcome, but now it's on the... At least you can potentially measure it as a 1%. It's one thing they could start issuing reward, not sort of yield of their bonds, instead of USD, it could be the Bitcoin that they hold, right? That's a potential they have. And it's not gonna impact Anybody and it could just issue tons of bond and you know

We have this thing that we're gonna you know, we're holding on we seized Pay you back in currency that we print And buy Bitcoin with like it's orders so many different ways you could look at this But not now one thing We didn't touch on it we should, is if the United States is doing this, what's stopping anybody else from doing the same? I'll tell you what's stopping them. Canada's never going to do it. We're literally pulling American liquor off the shelves.

We're so stupid over here. We're never going to do anything, even if it's a good idea. Trump said in the State of the Union last week, that guy could cure all manner of terminal illnesses in the States, around the world. And there's just half the people will never clap. They'll never stand. They'll never agree. They'll never support.

These people are the ones who are going to be left behind now, because it used to be the case that like over a four year presidential term or any four year, five year period, not enough happened for you to really find yourself in like a generational deficit, but now it's happening. Like already over the last four years, if you didn't own Bitcoin, how did your assets do compared to Bitcoin? How they do?

How did your house do? How did your stocks do? How did your gold do? How did your bonds do? How did any of that stuff do compared to Bitcoin? Anyone? Like it's crickets from that side. Eventually... Look beyond your borders, Joey.

I know. I know. But like... Look, look... Other countries are not going to do it either. You think any European country who hates this guy, any EU country is going to be like, you know, we have to do it. I can name one and a half that would do it. No EU. A European country maybe. Not an EU, not a euro zone country. There's no way there's no, it's going to do this while Trump is in power. None. Czech Republic.

Are they euro zone? Norway, if they are euro zone, like if they use the euro, they ain't doing it. I only have a look. Doesn't what does Norway? I'm going to see the eurozone Austria Belgium Croatia Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta the Netherlands Portugal Slovakia Slovenia Spain the seven non eurozone members Bulgaria Czech Republic Denmark Hungary Poland Romania and Sweden Czech could do it they could do it they're not in

the eurozone I would I would put a good bet on Hungary or Poland to do it as well, honestly. Norway comes to mind that they may want to do it. I don't know why, but I think they grasp the idea of something like hard money. I truly believe that they've been so I think that you have a few of these countries start doing it. It's going to spiral then out of control and then everybody is going to have to do it, it's going to spiral then out of control and then everybody is going to have to do it because who would want to be left behind? Now why would Russia want to not do it? Why would China now not want to do it?

Russia and China for sure. I think Russia and China for sure. I think Russia is, I mean, people have been talking for a year or more now, Russia as a nation already mining. And so when I see stories like the US doing the reserve, Russia's quiet. Putin says stuff like, you can't stop Bitcoin. Like, how much more do you need to hear?

How much more do you need to hear? But there are people out there who we know, you know, like they're friends of friends, family members, whatever, who are like, ah, Putin's a Bitcoin guy. It's got to be a scam. Trump's a Bitcoin guy. It's got to be a scam. Like, it's money for who, Len? Friends and enemies.

This is exactly what you expect. Good money comes for everybody at some point and you get it at the price you deserve and it's getting higher for us unfortunately. So as long as they adhere to what they say they're going to do because they put they have a framework they released it we talked about it it seems like we're both very happy with what's could be better but but it could be a lot worse. Right. So as long as they follow suit, right. That's a wonderful thing is a lot could happen in the next three and a half, four years.

So the, I am kind of skeptical that they will follow it kind of, I hope that they follow it to a T and the sooner the better, because let's be honest, they, they don't have much time Like I said, it's only what Trump is gonna be here for only four years less two months, so Once he leaves all this shit could be undone for better for worse So this was probably the price dip if he leaves and Democrats win like we're talking immediate 20% You get a huge

buying opportunity now mind you that'll be from five hundred thousand down to four hundred thousand but it'll feel like a buying opportunity anyway it always feels like a buying opportunity that's does it yeah okay yeah even when we hit one await and change whatever that the high was I was still like I can't buy enough of it. Like you just look what's going on around us and you understand the properties that is Bitcoin. I can't believe even 108 is,

some of you will say this is overpriced. I don't understand, like against what? It just, anyways, I wanna talk about a lesson in self-custody and the United States should take heat here because this is something everybody's got to know. This guy named David Fredericks, he's on Twitter or X, he wrote, I was scammed over the weekend and lost my Bitcoin assets. What not to do?

I received several calls regarding my Coinbase account. I'm not trying to shit on Coinbase. This can happen with any account out there. Apparently it was compromised. Email sent to me, AI assist called, connected me to a live person, said my Coinbase and wallet were breached. Sent me verification to be a fake Coinbase email slash ghost phone number, and he says don't accept any calls from Coin or quote unquote Coinbase. Well, whatever it is. The the onus is on you. For everybody out there that has Bitcoin, this is a strong reason why you wanna learn how to do self custody, because if you don't,

if you're relying on somebody else to hold onto your Bitcoin, not only could that get stolen because somebody else is holding it, not only could it get rubbed because the exchange would go tits up, but in another case, there could be a scam that gets access to your Bitcoin like this guy.

So I stress that for people out there, try to use non-custodial exchange. In Canada, we have bull Bitcoin, we have Bitcoin Wells, we have two exchanges that you could easily buy as non-custodial. Even in the United States, Bitcoin Wells is operational. I don't know if all 50 states buy don't know maybe this and check them out but that's what I suggest. Learn the art of self-costity because if you don't it's going to be to your detriment and it's not that hard to do and that's my end of story. Where do you come down on you know now we've talked about this a little bit I I see more and more this idea of, I would say, institutional multi-sig becoming more prevalent, places like OnRamp where you have like two, you know, do you think this is going to be a way for people who are in Bitcoin to just,

I don't want to use the word abstain, but definitely pass their responsibilities off a little bit to more than one party so that you're not necessarily risking your coins by giving your custody over to an exchange, for example, but also you're not taking full responsibility. Where do you come down on a service like that? They're becoming more popular. And I think a lot of Bitcoiners are affiliated, associated, supporting, advertising for, et cetera, et cetera, these different options. Where do you come down on all that? I'm not a big fan of them. Really, it's just holding on to your 12 or 24 words and maybe a passphrase on top of that. How difficult is that? And there's multiple ways you could do it. Either you could remember it or you could secure it in multiple places physically that it's hard to get access like just that's what I would suggest people do

don't rely on somebody else and if you do that what happens if you don't get access to them yeah and then somehow you know you lost one of your keys and you need that third one and they have it and they're not gonna because you can't get access to them you don't have access to them. You don't have access to your Bitcoin Do it yourself. There's there's way better ways. That's my two cents. I Could be wrong, but we used to remember telephone numbers Right and there was seven digits per telephone. He used to remember, you know five ten different numbers like off the top of your head It's twelve words man. Yeah, it's 12 fucking words from you when you were a kid, you remember a lot of phone numbers still? I still yeah. I still remember my first telephone number from the first house I lived in which was a long time.

I can think about all my like Saturday morning buddies, you know, get the hockey guys together. I can probably do all those phone numbers still. See? And that's seven digits. And all those people like, it's only the, and if you don't want to break it down, it's only the and if you don't want to break it down it's only the first four characters if you want to do the the 12 or 24 words that's really matters but the words are easier to remember than four characters. So like if we can do it we have the ability we just choose not to don't pass this off it's not worth it. Mike in the chat I'll pin it a lot of people will eventually use banks to custody their Bitcoin. I have had this suggested to me a number of times by people. You know, when we talk about, you know, how important it is to store your keys in a secure

way, why don't you just let the bank do it? Yeah. And he's probably right that a lot of people will do it. This is like so wrong. Exactly. Doesn't mean it's correct. It's just people are accustomed to trusting somebody like the bank to do it. correct. It's just people are accustomed to trusting somebody like the bank to do it. It's one thing if you trust him with your Canadian dollars, US dollars and

there's an insurance per account if something happens because then where does it come from? Well in essence it's unlimited supply but theoretically with Bitcoin though if something happens with it how could it how could you be made whole? If enough damage is made it's potential that everything is lost and you just you know I don't want to think about that but one thing I want to more than anything pick your brain Joey about this because I think you have an opinion is El Salvador in the IMF, right? There's been a lot of discussion here and I am confused as to what is happening here. We had the IMF imposing restrictions on El

Salvador for buying Bitcoin. It was pretty clear in the language in which was included and the loan, I forget the dollar value, 1. something billion or it's irrelevant, the loan value. The gist of it is they borrowed money from the IMF and in exchange they one of the things they gave up was they're not gonna buy Bitcoin but it seems like they're still buying more because if you look at the Bitcoin office they're showing that they're buying or they're claiming to buy more and then you go on the website their their balance goes up in terms of how much Bitcoin they have they have over 6100 Bitcoin as of earlier last week or later last week.

Bukele is saying that he's no, it's not stopping with respect to the buying of Bitcoin. So I'm wondering what are your thoughts here? Because I'm confused. How could they still buy Bitcoin but yet go through this whole exercise with the IMF? My thoughts are that it's stopping when the IMF tells them to stop. So you think they're still doing it? April is the date it's supposed to stop? Yeah, I think he's full of shit.

I think that guy's probably getting tons of interview requests from huge Bitcoin podcasts that will give an opportunity to go long form and tell them exactly what's happening and what to expect. And he doesn't do it. Why? Because he's full of shit. And he knows he's full of shit. And he's been on these podcasts before. I like to point out to people that he's a big advertising and

marketing guy before he was a politician. He's not, you know, new to this, this, uh, idea of public image, public opinion and shaping those two things favorably, even when, uh, you know, the waters may be a little rougher than you're used to. And so when people say, Oh, he's still buying, it's not over. Like it, listen to me, it's over. It may not be over today, but that IMF announcement where they talk about limiting the Bitcoin restrictions, the IMF is not out there to be made a fool of. And so I would expect that

he gets a phone call every time he tweets about this stuff, every time he talks about it, and that eventually these buys will stop and they will stop sometime this year. I don't know when, but they will stop. Because the IMF is predatory and like I said before the IMF doesn't come to you you know and debate with you about the merits of the things in the agreement that you have with them. They overthrow your government, they destabilize your country, they kill you, they don't they're not there to negotiate and so when people are like, oh, they're still buying. Don't be stupid.

Don't be like, you have an opportunity here to walk it back. Take your lumps and just get off the train because it's over over there. And by the way, I saw that, was it Julian maybe? Tweeted that the country also closed a Bitcoin only or like a Animal hospital that was being funded by Bitcoiners like that's that's been going for a while that that's brutal like like this guy, you know He gets he's What's wrong with that because this this animal hospital has been funded by Bitcoin it what's I don't know something wrong with it I don't know. But like the point is that this guy again

he's God the amount of fucking dick riding this guy who is the IMF? Who is it? What do you mean? Like if you have to say like what country is the clear up? This is Germany France Isn't a United States that's really not in the strength for IMF. No, no No, I think it's like an EU outfit more than anything, UN adjacent. As much as the United States is interested in that stuff

or funding it directly or indirectly, I think they're starting to pull out of it. And it's hard for me, Len, to imagine that the US cares that much about El Salvador and their 500,000 Bitcoin or whatever they have. Maybe it's probably even less than that. I don't know how many exactly they have. I don't keep up with it, but.

So the largest contributor is United States. They're the largest contributor to everything though, right? So I don't personally think that matters that much. What I care more about is what the ethics and the sort of political slash policy direction are. And those are not United States centric. If they were, the United States would not be pulling out of these things left, right and center. So, States centric. If they were, the United States would not be pulling out of these things left right and center. So you know

when people again people say like oh this guy he's so well spoken he's this and that. Do you really think McCormick or Danny or whoever's doing that Bitcoin show now are not reaching out to this guy? He's been on that show before. Do you think Preston Pish is not reaching out to him? Do you really think simply clickbait's not reaching out to him? Anyone who wants to get views is going to reach out to him. And even, and these, and you know, if he wanted to speak to the Bitcoiners who are rightfully, as you mentioned there, confused, I think in the, in the sort of most generous interpretation and angry in the least.

If he wanted to speak to them, he could, but instead what do you get, right? You get silence, tweets, we're buying, we're going to keep buying. Well, it doesn't look like it. The IMF doesn't seem to think so. And, you know, the IMF is like the globe trotters, you know? Like they ain't losing once they get into the arena with somebody a lot of the time anyway. So again, El Salvador was, is a second, third world country, you know?

Like they're not a power or anything. So let's see. I mean, Len, if you had, this is the other thing I tell country, you know, like they're not a power or anything. So let's see. I mean, Len, if you had, this is the other thing I tell people, you know, if you had to bet your life on where the other, they would either keep buying or stop. Like what sane person would actually bet they're going to keep buying after the last three weeks. I have no opinion on this. I have none.

I guess I, I, I'm getting conflicting information. Bukili is saying one thing and you're still buying. I don't know when the deadline is. I have no fucking clue. Yeah. So that's why I keep seeing April. I don't know. April, but maybe I'm wrong.

So that's why I can't say that's gonna stop or gonna continue. I just, I'm just getting all these inflicting information and it's hard for me to compute it. There's tons of it. And like, this is why this guy, who in their right mind looks at this and goes, wow, I'm, I'm not surprised. Like this guy should be going on a podcast or something, you know, Mr.

media, Mr. Bitcoin, Mr. Indie shit. And by the way, uh, you know, I think I said this on the show a little while ago. Everyone talking on this program in the chat, in my DMs, in my group chats about how El Salvador's bonds are outperforming, blah, blah, blah. They're outperforming because of Bitcoin. No, they were outperforming because the IMF is coming back into the picture and people will buy that debt because it's basically backed by infinite loan power. So to me, it's just like, whatever,

man, I personally don't care about this. And I do hope that it doesn't go back to the gang-ridden sort of filth spot that it was like three years ago before this guy came into power or whatever year that was, 21 or 22, I forget. But as a Bitcoin country, and also unpopular here, so hold your tomatoes, but how much of a Bitcoin country was it really? How much of it was really a Bitcoin country? It seems to me like a lot of top down, legislating Chivo, legislating businesses have to take

this stuff, legislating that even big corporates have to have a Bitcoin option. That's not, is that what you're about? Is that what you're about? They were the first country out there to allow people to pay with Bitcoin. They allowed and legislated that everybody had to take it as well. That's the problem. They were the first country out there to allow people to pay with Bitcoin. They allowed and legislated that everybody had to take it as well. That's the problem. Allowing people to pay, that should stimulate demand if you have the right idea, but forcing

people to take it is a whole different side of that equation. It's not the way that we should be doing things in my opinion. Yes, there's some truth to that But I'm trying to say that the fact that they allow people to spend Bitcoin No other country that I can think of I could be wrong or might be but you were able to go there and just simply Exchange Bitcoin for whatever and people not a lot But there are people that travel there and use their Bitcoin to do their their daily thing another huge nuke the people who paid for the passports or

Talk about talk about a rope hole. It was a gamble and You were criticized for saying it was a gamble by the way like like no All these people who are like, oh you're just mad you don't get it This is in the inner for the long haul this guy's he understands big Well, I did I say was a gamble of what not I don't know if you did or not But we definitely were we on this program are never as sure as everyone else is this thing is just going swimmingly everywhere You look we are no like that. I'm just trying to say what there's an opportunity to get a Passport or some document to live in another country

It's always a gamble because you don't know what it's gonna be like when it is You want to move there if it's gonna be tomorrow five years ten years the world is changing And so the landscape in a country where you want to go into well could potentially change as well That's why it is a gamble Not to say you shouldn't do these things and start getting documents and all that because it's better to have it than not, but you just don't know what's going to happen when the time is right for you to do it. So that's Mark Carney. Mark Carney's got a few passwords. He's got the right idea. That guy. You got three of them, but two of them are kind of like very similar. One is Ireland and one is England. Right? Am I

right? Or I don't know. So it's just either one just either one of those so yeah well we don't have much time because I don't want kind of one in this early the Bitcoin side. We're full more sorry you got a short one? This is one I want to get through Blockstream yeah and Blockstream you know the company they're behind Jade they're behind Liquid the satellite that Bitcoin Satellite so you could get, you could stick in there. Love that idea, by the way. We're critical of Blockstream sometimes, but I like that idea.

Yeah, well, the satellite is cool. Liquid, I've talked about it. Jade, we were, especially the new version of Jade, doesn't seem like they'd be a big hit. Either way. Did I tell you I got my Jade out, like two months ago or a month ago, when we were talking about it,

just to see if that camera was as bad as I remember it's bad it's like almost impossibly bad and we talked about the newer version of the Jade having a better camera with still it's nowhere near what you want yeah whatever I want to talk about blockstream they were raising capital because just last October they raised 210 million dollars with an M for a round of financing and then they just did what's been called a multi-billion dollar investment and this just past week. So they've been raising capital quite a bit in the last five months and for this one they're saying it's going to be to launch three new institutional

funds, including two that will enable Bitcoin lending. All right. The three things, the three funds will be launched in April. So it's coming up next month. Well, goes well. One is Bitcoin backed loans. Second is crypto borrowing with US dollars as collateral. And the third is hedge fund strategies. And I don't know, I look at this and maybe I'm wrong here, but it seems like this is a steaming pile of shit. Maybe the Bitcoin backed loans, there may be some value there. I can understand why somebody wouldn't want to sell their Bitcoin because of tax. So they can simply want to just borrow and then pay it back later. That could I could I could get my head around that. But the other two, like the crypto borrowing with the US

dollar is collateral or hedge fund strategies. Like I'm looking at this, right? Like, is there anything that you could say, Oh, this is a fantastic idea. This is a Bitcoin idea. These are feed-in ideas, right? Am I wrong? And from what is being reported, this is multi-billion dollar investments. So they're putting in a lot of money into this. This is a huge idea they have that's gonna take them to the next level.

The fuck is this? Like, Adam Bach, he's been a great player in the Bitcoin. Like he's been there from the beginning. He's chatted with Satoshi, right? But this kind of move, like I'm critical of this. This is pathetic if you ask me. Yeah. I own much ad. I mean, it's the idea that you would ever raise money for a Bitcoin hedgie.

I can't figure that out. Who's asking for that? Where's the market for that? I thought Bitcoiners were about custody and I do like the collateral thing. Like I think there's a real future in Bitcoin as collateral for fiat loans for sure. Be responsible with those things. As always, Ledin, by the way, former sponsor of the show. Love Ledin, love Mauricio. Way ahead of the curve on that. Way ahead of the curve. So good for them. But this other stuff.

Like do you know, I mean you and me talked to a lot of Bitcoiners, different ages, different knowledge levels, like you're still helping a lot of new people. Every so often I see in the show chat, is anybody asking you for this, you know, Len, do you know of any places I can park some money, a hedge fund with my Bitcoin? Is anyone asking for that? Has anyone in Bitcoin ever mentioned that? Ever? I don't think so. I don't know how it's being asked that for a long time. But the fuck, I don't know.

I'm not certainly asking for it. And I don't think people should be asking for it. But I don't understand why they go through this. There's just way better things that they could build on. And it's not to say they stop building. They're still building their... There's no money in it. Like they can't make the best wallet, right? That market, in my opinion, is more or less done. You could talk about ledger, treasure, treasure, treasure, whatever you call it.

And then obviously the cane coal card. And so after those three things, what market share is left for you? You know, that's not a moneymaker. The satellite, cool, but also not a moneymaker. Liquid network, moneymaker? I don't know. I can't think of a way to make that the key element of your financial strategy. So what's left, right?

Financialization of Bitcoin. I think you're going to see more and more of this. As any market, when any market matures, you see companies realizing that they've basically hit the peak of their powers in their market. And by the way, this is not just a Bitcoin thing, it's every market. So I'll point you to one easy example, the iPhone, okay?

Fantastic piece of hardware. But the candy bar phone in general is basically topped out. There's not a lot more features you can put into these things. The camera is only going to be so good. My eye can only see so many frames per second when it takes a video and high def, right? Whatever dirty shit you're sending to the broad you met last night. She doesn't care if it's in 4K 120. It doesn't matter to her. So the phone itself is experiencing diminishing returns.

So what do companies like Apple do? Well, then they go into financialization. Now Apple has a buy now pay later program baked into their wallet. Now Apple has, you know, other, you know, subscription services and all these things. They're financializing, they're pinching pennies from people who are already in the ecosystem. I think Blockstream is trying to do the same thing. That's my guess because that's what happens when markets mature. You need to find ways to extract more value where none exists in your old model. And that to me is what's going on here. Do I have that right? Am I crazy? It seems a sound strategy that they would do this, but it's still very fiat.

I'm not saying it's right, but you're right. Exactly that. And Adam Backlick, we could hold him to, we should be holding him to a higher standard. He should be doing things, in my opinion, more of the Bitcoin way. And I feel bad, I don't wanna hold, it's anybody, especially with somebody like that, I don't wanna be critical of them,

but if they, or they're part of a company that's making a stupid decision, and my eyes, this looks like a stupid decision. I could be proven wrong in the future. Wow. I'm going to be critical. It's too bad. He'll be on a podcast soon talking about this, I think. For sure.

I don't know who's show, but I'll be listening because I do want to hear what he has to say. He's at least there in that, right? I think it's in the chat that they heard that the Jade has a back door in his chip. He'll have to know good in the chat. It's during the fire started. I don't think that's they don't have door in his chip. Guillaume, Guillaume left a no good in the chat. Stir in the pot. Fire starter. I don't think that's, they don't have a secure element chip. They use the blind oracle as a way to get around it. So that can't be the black, but, and I heard,

I could be wrong, but I thought the hardware was open source. I'm not saying anything, but there's more in the chat for people who are on audio that Guillaume is saying, but I'm not gonna write it or say it because That's why I didn't want to name it. I prefer not to open myself up to anything. But yeah I guess I didn't put a name when I when I read the comment just in case That's very Strategic with that, but you know what Joey? I think we could end it now or we go one more. I don't give a fuck

Let's drop it up. Let's go. Let's go over to the Canadian side of things. So if you're on audio Well, you know what to do. I don't give a fuck. Let's drop it up Let's go. Let's go over to the key inside thing. So if you're on audio Well, you know what to do. I don't tell you if you're on video stay here We got lots more to talk about tonight including but not limited to the anointing of King Carney will be right back until next time take care yourselves and don't be a cock