The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - NO BITCOIN RESERVE? AIR CANADA ON STRIKE! IS CANADIAN IMMIGRATION GETTING WORSE?! | The CBP 228 Pt 1

Episode Date: August 19, 2025

FRIENDS AND ENEMIESJoin us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. With the US announcing they WON'T be buying Bitcoin for their strategic Bitcoin reserve, is the reserve idea in trouble? Plus, Air Canada employees REFUSE the return to work mandate and RIP UP the order - what's next for employees and travelers? Canada saw a HUGE number of new immigrants in recent months, is Mark Carney BREAKING his immigration promise? Tune in and find out.From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com⁠Discord:   / discord   A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetworkThis show is sponsored by: easyDNS - https://easydns.com EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. With DomainSure and EasyMail, you'll sleep soundly knowing your domain, email and information are private and protected. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for 25% off fees FOR LIFE, and start stacking today.

They're really treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF. Can't be exposed to that. That's my view. It's not a good idea. And by the way, that'll hit MSTR too. It'll probably hit other stuff as well.

Friends and enemies. Welcome back. Canadian Bitcoiners podcast. Friends and enemies, welcome to the CBP. Want to be better informed. Listen to Levin Joe E. Spots is taking care off right off the top. Oh, Bitcoin and Easy DNS, the media is feeding us.

Slop, it doesn't matter what topics discussed, quality entertainment and information you can trust. That's being planned or at least discussed, you know, we're not going to allow people to buy us up. You can trust. Send the guys some value, boost them with some stats. Bitcoin is a scarcity. Acid. I mean, it's just a fact. Geopolitical national down to the local cloud. Friends and enemies, welcome back to the Canadian Bitcoiners podcast where we are not on strike. Joey, that's Len. Buddy, what's going on? Good to see you.

Good to hear from you. What's the latest and greatest over there in your neck of the woods? I'm not flying anywhere, which is good. I don't think you're flying any time in the next couple of days. No, sir, no, sir. Actually, that's not true. I'll be flying.

I'll probably fly to Montreal and I have another keynote engagement. No, no, no. But in like a month, two months. So I don't know. I don't know what the mediation will look like. And I have another engagement. I have to fly to yet to be announced in February, but, you know, not in the next few days. I'll tell you that. That's ugly. What do you? That, that, um, I don't know where I come down on

this, you know, recent discovery by a lot of people that flight attendants aren't paid unless they're in the air. Where do you come down on this? Is this, this, like, seem unfair? Is it, are we just missing something? Well, I'd prefer to chat with this maybe later in the show, But definitely, if they're working, they should get paid for them actually doing something. So if there's unpaid for the time, right? That's bullshit. Right? Like I don't want anybody to work for free.

No, no, no. No, that's communism. So we don't do that. All right. Well, let's start with the sponsors. EasyDN ask, best place for you to buy host, port, a domain. Mark is your friendly neighborhood registrar and takes Bitcoin for all the services. I don't know if I've never mentioned that before.

Just kidding. We talk about it every week. If you are a Bitcoiner, lots of stuff available for you over there, you have the option to run a number of different virtual private server services. Suite of services, I guess you would call it. Bitcoin nodes and Austin Relays, all these great things you can do, not to mention, lend for a couple extra bucks. You get domain sure, easy mail, all these things that will help you protect not only your data,

but the data of people who are relying on your service or your website or your blog or your podcast, whatever. blah, blah, blah. We talk about this a lot, Max. This is a Veezy, man. Every week, Len and I talk about stories where people who you would think are otherwise competent, hospitals, car insurers, health insurers, you name it. Data getting grabbed and sold on the dark web for honestly pennies on the dollar, which always makes us laugh. But Mark, we'll make sure that you're taking care of in that respect. So go over and make sure you patronize our sponsors. Be nice to them as well. No rude comments. CBP Media is the code.

You get 50% off your first round of buys, which you can't beat. Who's the second sponsor? Bull Bitcoin. I like Bull Bitcoin. You like Bull Bitcoin. We like Bull Bitcoin. Why?

Because they're non-custodial. They have your privacy in mind. And they're the best in the game. Look, they're available in Canada. Mexico, Costa Rica. A bunch of countries in Western Europe. You know what? You're going to conquer the globe eventually.

Look, if you already have an open an account, open one up using our code. Why? Because, like I said, they're the best in the game. You don't want to deal with a custodial exchange because they are cucks, right? Cuxedodial. Custodial exchanges, yeah, look out for those. Don't want to do with them.

And, yeah, a lot of options you could do with bull Bitcoin. They pay your bills with your Bitcoin because, look, Bitcoin's gone up quite a bit in the past little while. Also, you can send some money to somebody. Say you want to pay for something like an e-transfer. You don't want to send them Fiat. You can send some Bitcoin, which gets transferred into Fiat. There's a lot of different options available of Bull Bitcoin. They are the ones that I use to buy all my Bitcoin these days.

I like them. They are number one. And it's time to get Francis to come back on because Bo River Credit Union is also an option. If you're in Alberta and you want to buy Bitcoin direct, you can use them. Yeah. Just fucking cool. He did message me about the episode with you that he missed because he was like half traveling. And I told him I would reach out to him.

But we're booked pretty solid, man, which is a good transition to housekeeping. We have this week, Dan Carlin, who organizes the Canadian Bitcoin Conference. He's going to come on Wednesday at 7. We'll talk about the conference, talk a bit about some of the hits and misses and some of the lessons learned. I got to say, I really like Dan. I've worked with them for a few years now. Obviously, I emceed the first year, was a speaker last year, and I'll be emcee again this year. Him and his wife, Manuel, really do care about the Bitcoin ecosystem here in Canada.

They really do care about the reputation of the conference. And, Len, I mean, you didn't go to the conference in Montreal. I don't think you're planning on going this year. But boy, oh, boy, what a job they did. Picking the venue, picking the speakers. It's going to be really, really fun this year. I hope you guys are there. We'll probably have a promo code or something, I'm sure, so you can get a ticket through us.

And I just want to remind people, like, we don't ask for anything when we do stuff like that. If you buy a ticket to the conference through CBP, we don't get anything. I don't want anything from Dan Menwell. I want them to get the full price of the ticket and make that. conference as good as they can. And they've done all. We don't do that for obviously anyone who has a conference. We will do it for the people who we trust and we think have a good reputation. So looking forward to that. Next week, I have Nick St. Louis coming on to talk about the potential for Canadian Hash Force and some other stuff that's been on his mind. He obviously just joined a Bitcoin Treasury SPAC company. I'm not sure what you would call it a few weeks ago. So him and I have been planning to record for a while. We're going to get him on. And then. And look out for a few more guests. Dr. Brian Day is somebody I need to email. We had a DM exchange on two-tier health care in Canada. I believe he's been on money talks. And obviously, like my recent ACL injury has really opened my eyes to the fact that there is a two-tier system in this country already. And if you don't realize that, it's because you're on the bottom tier. And I want to get his take on a lot of different things that are going on. He's obviously been pushing for private options in some respects. And he's He's not just a nobody or not just a business guy. He is a orthopedic surgeon, I believe, at UBC.

So doing a lot of good work in that sphere. I can't wait to talk to him. And then I don't know if I took a few weeks off in September, to be honest with you, because I'll probably get that surgery at some point. And Len can take over and do some interviews. I don't know who you're going to talk to you. But yeah, we have a lot going on, man. I know we talked about taking the summer off.

I did anything but, honestly. And I'm glad. I think we had a lot of good episodes and the viewership was up and I got to thank everyone for the support. You could do anything in the summer and you might not go to the beaches anymore but there's a lot of places you could hang out

and not listen to Bitcoin podcast but instead you guys are with us which is sick. So I appreciate that and I know that lend us to. Boost? Let's do it. Four noteworthy boots this week from MoBTC Dick is one of them, 500 sats. And it came in today and speak as he wrote in

loving this dip and a couple of hearts over his eyes and his big smiley face. Yeah, we did have a bit of a dip today. So hopefully you took advantage. Yeah. Bull Bitcoin. That's a good place to buy. Totally, man.

So it's funny. We can see people when they use, we don't know who uses the code, but we can see that the CBP listeners are dip enthusiasts. It's a great time to buy. I'll just say that. You know, if you look at the price on Bull Bitcoin, I just went to look, we're about, Len, you know, a year ago, August 18th, 81,000, and now 160, about a clean 100%, a clean double.

That's in Canadian dollars for people that are wondering. Yes, yes, yes, yes. Yeah. That's the one thing. I wish they had an option. You could switch it to U.S. Because everything when I look at Bitcoin, it's with respect to U.S.D. Yeah.

And I look at any other currency, just for whatever reason, it just doesn't seem right. Same. I mean, everything's measured in the mighty dollar, right? So, yeah. Yeah. 100%. yeah yeah um jr writes in for 500 stats he says where is the sbr we'll talk about that today gold reevaluation and hiking um he's saying that uh what's going on with it like what's what's up is it so yeah

where do you come where do you come down we will find out shortly i'll tell you that much now the sbr that is a interesting topic that discussed i think so too i want to go a little bit Okay, Doom Satoshi 521 Sats. He says 33.3 Celsius here. What a number. Time to teleport a few quarters to you. Third most hot day of the summer in my northern woods. Thank you for your time.

That's, I'm going to guess, 90-ish. Yeah. Fahrenheit. Yeah. If you look on the weather channel now in Canada, anything above 30 is like on fire on the map. They have it burning. It's like an anime.

GIF on every weather map. It's incredible that they've changed the way things are. The incredible thing, the incredible thing is that they think we don't remember when it wasn't a red jurisdiction at 20 degrees. And now it's, you know, I'm supposed to believe that it's like suicide wings hot when it's anything above 20 or a two handle at all. It's crazy, man. It's like, it's just, again, I say this all the time.

These guys don't know what kind of media environment they're actually operating in. They think they do, but it's evidenced by their actions that they have no idea. And you know what the official reason why they're doing that? Tell me. They say it's to ensure that the colorblind can get a, it's such an obvious lie. What a lie. Like, what other, do they do that for all their programming, Len? What other maps do they do that for the colorblind?

Come on. Give me a break. I, I like that. CRTC doesn't have a regulation about colorblind mapping for the temperature. Like, it's just, it's nonsense. And it's happening everywhere. I wish I was blind, period, if I could see the new cheer readers that are being stowed up on us.

But Trevor 5,000 sats, last one. Love you guys, but I think you're missing the point about the foresting. It's that they don't want to have to deal with rescuing people from the forest when the fires inevitably start. Yeah, I've seen a couple different points of view on this. My take is that if you don't want to have to rescue people from fires, then control the underbrush, do your burns, do your maintenance, all those things. Or if you can't do it, and I know that there's at least some argument that's, I think, a rational one, that it's difficult now to get ahead of this, this time of the season with this

heat, blah, blah, blah, then you just set a certain area where people can hike, you know, and if you can't enforce it, then you can't enforce it. My general feeling, though, overall, like even if you view the, the, the, ban as rational. The thing that you have to think about, again, is directionality. Do you want the government to be able to tell you that they're afraid you're going to get hurt so you can't do something because they failed to control a safety element that was easy to control, a variable that should have been able to be, you know, lassoed years and years ago? That's a problem for me because pretty soon you can apply that to many other things like car crashes or certain foods

or whatever and you don't you don't want that what you want is a government that's competent enough to prevent those things from becoming risks when they've always prevented them from becoming risk and then suddenly stopped you know that's the thing that's the problem so while i don't disagree with you necessarily i think that you have to push for better than that or you know it's it's a case where you give an inch and a mile is taken and the fact that it's a tiered thing and some people are able to go for hikes in the woods yeah the natives right the natives are allowed to do shit in the press saying who i'll say the natives are allowed to do shit in the woods and so like this is it's just obvious right like you know if you were rallying as a trucker

you were in a super spreader event but if you were protesting george floyd it was rational and doctors didn't care and it wasn't a super spreader event there's too many standards and when there's more than one standard then it's political and that's all there is to it yeah so that's just it's completely ridiculous you're totally right land i completely forgot about that and i think it's time just to say thank you to boomer for tagging in last week yes two weeks over the last three two weeks out of the last three yeah well last week in particular because he was doing it while he was on vacation in nova scot it looked like he was in a taliban hostage video what's with that uh bedroom you know what's going on the Airbnb

market where was that some kind of uh bed and breakfast in the woods there looks like the beginning of a jordan peel murder movie in that room i don't know who jordan peel is Yeah, you will. Sometime you'll watch moving from him. I don't watch. Much of that. So anyways, thank you to Boomer for tagging in again. This is, uh, we, we love you, buddy.

Definitely. And Joey, I think that's it. Let's go to the Bitcoin news. Let's hit it. First one, very, very quick, but it, you know what? It seemed like so long ago we had an all-time high, 124-crazy-ish. For all of, for all of like an hour or something, a day? What was that?

Hey, you know what? It doesn't matter. We got there. But again, like I say, when did it happen? It feels like more than a week ago, but it happened just a few short days ago. And not, I'm not sure about you, but celebrations for these all-time high, all-time highs are just minimal now. Wasn't there a big all-time high celebration at Ridgeway Mall in Brampton? I think I saw a big celebration at Ridgeway Mall in Brampton.

That wasn't for the all-time high? Was there a protest going on there or something? No, I think it was an all-time high celebration, wasn't it? Was it okay? I don't know. You can Google that if you want. want. Okay. Try and find out what was going on there.

A lot of people. It must have been for the all-time high. Was there a Hamilton man present at that event? It could be in that segment. I don't know what went down, but I wouldn't be surprised. Well, we'll explore that topic later in the show. Yeah, these all-time highs, the increment is now getting to be smaller and smaller. And not only that, it's the percentage, too.

You know when you went from like 55 to 60K, 5K difference, but by percentage, you know, it's decent. Now we went from 123 to 124, 1K, and then by percentage it's even smaller. So something is going to happen one way or another. Whatever it is, just be ready and enjoy it. There's nothing we can do to change it. We can't will this to go up or down. It does what it does and for a variety of different reasons. I've never been.

Have you ever been more? willing to buy at all-time highs than you are right now? I didn't always, in previous all-time highs because just the thought of it, I got to get in, I got to get it, because it's going to go even higher. So nothing is changing. Even now, 124, got to get in, got to get it. I have bought 124. I bought other all-time highs.

I'm proud to say. I'll do it again. Norwell, making a good point in the chat, the all-time highs are happening during low trading volume sessions, which is true. I actually talked about this on Why Are We Bullish last week? Punter Jeff and I, Jeff Walton, kind of going back and forth on, I don't know what you call. Is it my side or is it people in the chat? S&P, all-time highs.

I can still see you and hear you. Okay, yeah, you froze for a second. I'm curious to know if it's my side or if it's your side. I don't know. Is this a third time this happened? Could be the fact that I just switched to a different location. VPN. Yeah, it was Florida where it was in California, it wasn't allowed for using certain tools.

Yeah, so I just saying to Jeff that you're kind of going to... Your side froze a little bit. Oh, maybe that time there. I don't know. But the thing about the sort of all-time highs now is you have high rates. Like we talked about this many times. High rates, difficult, kind of a difficult Treasury Secretary, let's call it. And a number of other reasons why you would expect for the sort of.

of price to be lower. And most of the time when we talk about why the price rips, we absolutely fly on stuff like rates coming down. We also just had a really high PPI print, which did do a little damage to the price. I think it's really the core of most of this dip, to be honest with you. But I don't know why you'd feel bad buying up here. I see people talking about you don't want to buy the dips, don't want to buy this, don't want to buy that. But like, why would you not want to buy this all time high? What is wrong with you? Are you buying for today, tomorrow next week for a year from now. It's so well put.

It doesn't matter if it's a few thousand dollars difference in the grand scheme. Because a few thousand dollars now is a couple of percentage points. Like who cares? Yeah. Yeah, exactly that. The one thing that didn't transpire is Coinbase, from what I understand, didn't go down from this all-time high. Maybe that's why I didn't truly rip.

There seems to be a correlation between the two. But trade ogre went down. Reports say, you had this in the show notes. Like, what is, I don't even know what trade over is. Like,

are I supposed to know what that is? Yes, Manny Monaro is a user of, did you remember that he was talking about this? People have it. When was the last time we heard the name Manny Minero on this show? It's been three weeks, I think.

Well, four weeks. We talked about him recently. Okay. Yeah. So, yeah, he's a user of trade or at least he was.

But yeah, that went down. So that's why the all-time high was just like a small increment up because Coinbase didn't know the trade ogre fucking shit like it's like Coinbase is bad

where trade ogre is like another level of shit coin. I don't know. Listen, I just I don't know what to say about this. For people who are still using these services like the only reason you would use something like trade ogre, Coinbase, whatever is because either you have like a discount at volume or because

you aren't allowed to use bull bitcoin or whatever no no tradeover gives you the ability i believe like there's shit coins there that i'm that's what i mean there's tons of stuff there but like why would you ever buy a bitcoin there that was the one he used our coin that was the one he was talking about this was years ago and it had this massive run up and he was he got us your trade hooker i didn't know that where did ar go from there i don't know but speaking of monaero like just i mean we could just talk 51% oh my god God. It's an apparent 51%.

There's disputes, but it looks like there's been two or three reorgs in a past a little while. So that leaves me to believe that there is some power out there that is controlling a heck of a lot of the hash rate and doing something behind it. I don't want to get into specifics about what happened in Minero, but I want to use it as a talking point for what could potentially happen with Bitcoin. Because right now with Bitcoin, we've got to use the Minero thing as learning a opportunity in bitcoin foundry is the dominant mining pool it's it's around 30% of the overall

hash rate the next is 16% i forget the name of that mining pool but 30% is a significant amount obviously it's not the majority but it's decent amount in the past week found found eight consecutive blocks and i believe today they found nine consecutive blocks it's a rarity this happens but it does happen right and So you have to look at this as a potential cause for concern. Why? Because Foundry is building blocks. I could have a miner and I could point it to whatever pool I want,

but it's the pool themselves that are the one that are building the blocks. They could decide what goes in and how the block looks. And that's why you have to look at stratum B2 or even datum or datum. I'm not exactly sure how to pronounce that from Ocean because it does give the ability out there for the end user, the miner itself, to build whatever template they want. Oh, Ocean is great. The tide. Have you seen?

You know how the tides thing works on ocean? No. No, no, no. So Ocean, Ocean, I was talking to a friend of the show today, who we will be talking about later. And he was explaining to me that Ocean has an eight block like layover, basically. So as long as your minors on within eight blocks of one that they hit, you get paid. Okay. How's that? That's pretty good, right?

Because just case you have to turn your minor off, we got a reset, or you want to change a configuration or whatever. you still you don't get rugged right everything else you have to be connected when the block hits to get paid and these guys are are not doing that so it sort of incentivizes miners staying on or or whatever i i really like that i had no idea they did that until today they're innovative in that regard a lot of half the power is going towards there and bob burnett has said in the past that he's tried a variety of different pools and for whatever reason his payouts are the highest with ocean i'm not sure if that that's that's over the long run, but from what data he has and has been talking about,

Ocean is the best from what he is talking about with getting the most out of it. But with respect to hash rate and building one blocks and shit like that, it's just, it's about time. I think that we advance people to use Stratham B2. We got to push that narrative that this has to be used more so in the future. I think only one pool uses that. I don't remember the fucking name of it, to be honest. Is it?

Either way. Brains is the one that. created it i don't even know if they use it i don't know what they do either nonetheless i mean just this is a topic of discussion that should be talked about it's not other things other things like it's just a lot of fucking noise right this is potential signal we got to deal with yeah right i agree i don't like seeing hash rate tied a lot to boundary or one particular entity i want to see this decentralized as much as possible look what happened to fucking monaero not to say that it's to happen with bitcoin but let's try to decentralize this as much as possible i just want to look at

the um the total hash right here you're talking to uh yeah is that a hash recently but that's it's only going up like the yeah yeah the thing that i would point to people is it's only going up and if you want to be part of that you know you have an opportunity to help decentralize the network we talked about this when when we partnered with decentral for a time uh and sold you know who knows how many of those minor units however many they made we sold them all and i think one of the reasons is you know it's a cool gadget for sure i like having mine it's kind of nice to look at and looks neat and has our logo on it it's like a sign that we you know did something right but the reason i do it is because you want to be part of a decentralized mining network like lynn said

you don't want all the hash power with two three four miners right marathon foundry whatever um and and and just be at the behest of these guys for blocks with all the with all the um censorship potential and you know the winds of government especially in the united states you know you can't you can't risk that and i was happy to see uh the other day that a solo miner hit a block again i think it's eight blocks this year now i've been hit by solo miners which is pretty nuts um it tells you that there's a lot of people mining at their house which i really really like and more people should do that i think and ocean is the pool to use unless you're lotto mining uh ocean is the bull you want to use all right like with a bit

axe you'd be lotto mining but if you're not using a bit axe ocean is the pool to use all right there's some drama going around bitcoin here we go there we go line just made the face the drama is there okay here we go there is lots of drama and this is an unreleased version of bitcoin core it's set to be released in the next while i'm not exactly sure when it comes out was it currently at version 29 point X, whatever the fuck it is. Either way, the issue that people are highlighting with Bitcoin Core version 30 is that it's going to include a minimum transaction fee of 0.1 sats per Vibyte. And right now, the minimum stands at one sat for B byte.

Okay. And we talked about this 0.1 sats for B byte in a previous episode of the CBP because it's noted in Mempools out there that it's out like people are broadcast. these transactions right and people want cheaper transactions but it looks like there may be an unintended consequence of this and so guys like mechanic are out there and he's fucking really beating the war drum here i got i got to watch his latest video but yeah he is you're right and he's saying by lowering the minimum transactions the fees to 0.1 it plays in the hands of people that are doing stuff like runes yep and that's

stuff that's been polluting Bitcoin mempools out there for some time. All thanks to Casey Romer. Thank you very much to that motherfucker. And so they're going to benefit from this, apparently, according to mechanic. And it further pushes the narrative that we need alternate clients out there. So you have core. Knots is another one. It could be a potential solution to this because it gives people the opportunity to filter out spam from their mempool,

but also gives you variables which you can play with. And it seems like somebody's variables, well, not even variable, they're just coming out of the, they're being removed from Bitcoin core. So I'm looking at this with respect to courts, it's certainly a step in the wrong direction. I want people to have options.

I want people to have some level of control. If they want to do something with it, fine. If they don't want to do something, that's fine. I don't want people to be painted to a corner, forcefully told what to do. it's good to have choice with software but it's good to have choice within that software and knots gives you that

and there's a lot of people out there that are just shitting on knots there's a lot of people out there are shitting on core there's a lot of drama going on with this and I didn't believe there would be some unintended consequences like this but man like we've got to think these things through more that's the way like we just we can't rush into this

this is a fucking something that could potentially side swipe to monitor a system we can't fuck it up not now where do you where do you come down on um you know sort of the tactics being deployed by both sides i love the mechanic videos and like i said i haven't watched the most recent one from i think two or three days ago i will um but it seems to me like we're not like our message sort of the let's call it the knots message is not landing uh it's not hitting the years it's supposed to be hitting and yeah exactly and and like it's it's isn't it sort of weird that we keep on going this road where, like, mechanic is the only guy making

videos. Like, where is, and I said this to Jeff Walton last week, too, and I'll say it again here, like, where are the guys like Sailor Preston Pish had Mechanic on a while ago? I'd love for him to get back on that show. I want to hear more from Ben Perrin. I want to hear more from some of the guys who claim to be, you know, we're the biggest channels in Bitcoin. Like Luke Mitchich, he's never going to talk about this um does you know like the the pleb underground guys will talk about it and phil knows his shit and sir ulric knows his shit and humble warrior i think her name is knows her shit like that like those guys are talking about it but where are the monster channels where are the monster personalities and the monster names trying to defend the network when it's

showing vulnerabilities like you can't say that it's a free market of ideas and then say it's up to everyone else to decide. Like, participate. You have a lot of, I mean, you have a lot of wealth riding on this, but you have a lot of reputational and sort of responsibility riding on it as well. You should be talking about this with people on your platform, in a forum where they can see it. And it seems like we're just talking to each other. It's not going to work. So what do we do? I don't know. Like, what is the other, what is the other option? Some of the core devs don't seem willing to talk about it. Some people on Twitter talking about how the core devs are compromised now. That's been a sort of thesis from a lot of people for better part of a 365 days at this

point. But I don't know. Where do you come down and all that stuff? I just want to say boomer in the chat is saying Pish has been adamant about knots. Yeah. But like I want to see him talking about it all the time. I don't want to see him. It's important. Like if I if I go to his podcast street, not that he has to do it every Wednesday, okay? But if I go to his podcast feed, I got to find it here. This is good content for the show. Yeah, John is saying that, yeah, look at the knots percentage. Didn't we cross somewhere like 50%? It is doing

it is doing well. Don't get me wrong. It's working. It's working. That 5K that Peter Todd got for that fucking, like this goes to show his. I know, he's compromised. He's compromised. Not, no, I don't, that's maybe the wrong. What is his priorities?

Yeah. If you're willing to sell something like that. I know. He's going out for people who aren't aware. He posted on X. Somebody paid for him to post something on X. And it was to promote a shit coin, a meme coin on Salana.

And he said it. He was, he did this. I thought it was a hack. It was the first thing I thought. And somebody else asked if it was a hack. He said, no, somebody paid him for this. So this is the guy that was supposed to be Satoshi. I can't even fucking put that out of that.

Yeah, they made a documentary about the guy being Satoshi. I totally forgot about that. Right. guys that fucking Craig Wright remember that Indian guy that claimed to be

Satoshi sometime he was the best yeah yeah actual Indian guy like East Asian Indian guy yeah that was

that was Joe we haven't heard from him from some time what's he's all people they right so I don't think it's

I don't think it's good none of this is good none of it exactly so to go back Sailor why would Sailor do this though

this isn't not only is not his 4K well he's focused on another thing and I don't want you know

Sailor Apologist yeah I hate to be this position. I know, I know. He's anything but going to be talking about a core versus nots. That's not his thing is, it's not, okay, but when you talk about core versus not, it's not, it's not which executable file, which dot MSI you like better for your node, okay? Like, what it is, is does this thing work as money or not? Like, that is the, that is the question being asked when you talk about core versus knots. And so for a guy like Sailor who talks about, well, we need this

thing to work, blah, blah, blah. Okay, well, support the thing. that makes it work not the thing that puts art on it you talk all the time about how this is not and it's it's you know generational technology does generational technology allow and and like I shouldn't even say allow but encourage the proliferation of you know JPEG frogs I would argue no these other coins that you know you're bringing over the character we've done this talk a million times I don't even want to do it again but you don't want to bring characteristics and capabilities over from coins that have failed to usurp Bitcoin. Why take the best traits from losers?

That's not how evolution works or should work. You take the best traits from winner. The same losers have lost, but they have some wealth that they have accumulated. And they're trying to bury the beast, right? Yeah, exactly. I'm with you on that. Why bring that with, like, I don't, I don't know, I don't know. Arbitrary data has existed since day one.

Yeah. It's just how the arbitrary data, well, it's how much arbitrary data is being stored. But also then when you're trying to do an execution of something like that's the abuse of syntax I guess you could call it for like ordinals then it's crossing a line that it's probably not where we should be

but and Ben back to him isn't he on vacation or am I wrong? Oh I don't know we just did a show last week so but is he doing it on vacation I don't know is he doing it on site like on his house or is he doing it remote? I don't want to be a pen apologies

but I think that last I saw he was going on one on vacation. Maybe. It's first ever vacation. Maybe. It's not necessarily like I want to hold Ben's feet to the fire either, but he's a guy who gets the technicalities of all this, you know, understands how these things work more than I do for sure. And I don't know. There's a lot.

I think there's a lot of people and I said this to our friend today over a tall boy. I'll say it to you now. There's a lot of people in Bitcoin who are losers their entire lives. They don't know what it's like to be looked to. by the masses for an opinion to be offered up riches and generational wealth for their platforms and i think you're seeing it a lot of places and you know while i did expect to see it i uh i didn't expect to see it from guys like peter todd you know that's that's a tough one i think for a lot of people swallow like oh i i was paid to tweet this well so what so what don't do it don't be don't like like set

the example for the ecosystem that you want to represent the thing that you're trying to build. Not, I told you I was tweeting it for cash and so it's okay. That's fucking such a bad stance. That guy's probably got so much fucking money from having Bitcoin, presumably, right? And yet he needs 5K that bad that he, like this is the other thing. A lot of people talk about how they manage money well and they got long time horizons. But I just don't see the behaviors. I don't see the behaviors.

Some people just got love. I'm out here wearing no-name fucking sweaters with my kids drool on them, no-name t-shirts. Like, you know, why is it that why is it that the guys who have been in this the longest seem to have like a lack of control? The reason we talk about kill your heroes all the time

is not because it's a cool thing to say or it's in like, you know, the Stoics books. It's because it's because it's happening more and more frequently. we needed some way to verbalize it. That's why. They probably come to a point. They just don't give a fuck. And I'm not trying to justify what they're doing. Remember George Costanza

when he was wearing velvet? Right? And that's basically it. They're wearing fucking velvet. Maybe it's because of this show that I'm getting all these targeted Instagram ads from Seinfeld hits. Like there's a lot of like Seinfeld's greatest moments that are coming to me on all my social platforms all the time. Maybe it's because I'm spending this time with you. My computer

is putting two and two together. I don't know that guy Len, but he's talking a lot about Seinfeld and Joey's with him. We might as well feed him some ads. I got one today about Jerry, Kramer, if I killed somebody, would you wrap me out?

Kramer's like right away. You know, I'll give you a funny one. My father-in-law and mother-in-law, they don't get along all that well, right? Typical. It's old Italian families. But they're celebrating,

I think it's their 51st, 50th, 52nd anniversary coming up this weekend, right? Good for that. My father-in-law said a few times, He said, if I, this is, and I can't think I'm going to say that. If I killed you a long time ago, I would have gotten out of jail and been free man instead of still being in prison right now. Oh, man.

Anyways, that's the strategic Bitcoin Reserve. Yeah. Formerly strategic, formerly reserved. What do we give? Well, okay. Bess and beside, what the fuck the guy? Who cares? administration they're saying it looks like this thing could be a reality after all this spr and i was

making fun of the spr last week right and i was saying like this idea is potentially shelved we have having her fuck all from them but i have probably have to eat crow on this one show it because it's still kind of shelved okay go ahead well the way they're talking about it they're saying that they're going to use confiscated bitcoin as a way to start funding it and you know what i got to give them credit They say they'll be the foundation of their SBR. Okay. Germany not too long ago. Past year, I believe it was.

Yeah. In August. Maybe one year ago around this time. Look at the price chart. The price chart. It was 50 to 60. Yeah, exactly that. So it was 50 to 60 range.

They sold a ton of Bitcoin. I don't remember the exact amount, but everyone made fun of fucking Germany, and rightfully so, for selling a Bitcoin. Now the United States is saying, we're not going to do this. Rather than sell it, we're going to keep it and add it to our reserve. I don't know why anybody could say this is stupid because they're keeping whatever they confiscate. That's wonderful. Wait, man. Who's saying it's stupid? I don't know. There are people out there looking at this news, this idea. People are saying this could

be potentially 6102 people's Bitcoin. Like, no. And if they do 6102 some Bitcoin, make sure it's not yours because you got K. YC free Bitcoin or at least mixed Bitcoin. So let somebody else be the fucking shung guy that gives it up. Don't be the one of giving it up yourself. So there's news I can't say it's that bad It's not like there's You're spending any money here Okay but compare it to

You know The conference It could be a lot better Yeah It could be a lot worse too Oh yeah I mean it could always be worse Like we're not

No We're selling the Bitcoin we have The problem I have with the announcement Is that a guy like percent Who understands Bitcoin It seems to me I mean Lutnik understands it

Trump and his kids understand it They must understand it that the highest levels of the administration, Sachs and those guys, they all get it, Bo Hines, formerly administrative member there, Bo Hines. They all get it. But then when Bessonko's on TV, he says, yeah, our Bitcoin holdings are like 15 or 20 billion. Well, like how much? How much do you have? How much did you sell?

Have you not looked at this? Like 15 to 20 billion is a pretty big gap. It tells me that they're not really looking at what they own. They don't know how much they have. I bet you they don't know where it is. and I bet you, Len, they've probably sold a bunch over the last five or six years, that government. You know, Len's laundry's finished.

Yeah. Dance to the song. They may have sold it. I have a newborn. I haven't heard that song in nine months. So, why? I turned it off. When she was sleeping, he used to wake her up.

Oh, I didn't even know there was an option to turn it off. I'd rather like it because now I got an audible that. It's good jingle. It's good jingle. I do the trap elbows around my house. Trap elbows for the millennials for the zoomers, yeah. So with respect to this decision, at least going forward, if we believe this to be true, they're not going to sell in either Bitcoin until there's a change in administration or a change of heart.

So they may have sold up until now. That's a win in your books? You're usually a much harsher critic than that. For this, it's definitely revenue, well, taxpayer neutral. It's costing taxpayers zero, right? They're not investing anything aside from the cost in terms of manpower to, to seize that Bitcoin. They're not printing any new money to buy this Bitcoin.

It's there keeping it. I just go back to the Germany example and how people made fun. And they deserve to get made fun of all kinds for that move. And the other moves as well. The United States is not doing it. And so I look at it, it's like, good for you for not selling. I like this. And maybe there's a potential to add to it in the future.

but at least now, whatever they sees, and there's going to be lots of opportunities to do this moving forward I would imagine they're going to keep it wonderful. I like it. I hope you're right. It could be a lot worse. Yeah, I hope you're right. I'm a little worried that Bo Heinz left the admin. I want

to see what he does next. If he joins like a crypto company and not a Bitcoin company, it'll tell me a little bit about what their strategy is at the White House. I no longer hear really Trump talking about Bitcoin. Obviously, J.D. Vance, same thing. Vance and a few others were just at the all-in crypto and AI summit two weeks ago, Bitcoin barely mentioned.

I didn't hear it at all actually in interviews that they published, but maybe I missed it. I could be wrong about that. And then I look at this commentary from Scott Besant about we're not planning on buying Bitcoin. Well, you know, do I want the government to use confiscated assets to build the reserve? Maybe. How important is the Bitcoin Reserve then, I think, becomes the question. If it's really important, you may find that suddenly there's a lot more scrutiny on exchanges like Coinbase, Crackin, and the like, trying to find people who are committing

crimes with Bitcoin. And to do that, you have to use the very, very questionable practices employed by chain analysis and similar firms. And you may find that the government now is reaching a bit to try and get that Bitcoin if it's important. if it's not important and they don't confiscate any Bitcoin or confiscate very little, let's say, just the sloppiest criminals have their Bitcoin confiscated, then they don't reap the benefits of having the Bitcoin in the Treasury. And we go down this Fiat Road anyways, and I think it benefits

the holders even more. So as a country, they have to make a decision about where the priorities are and act accordingly. It's difficult for people with Bitcoin if they really care about it. But if they don't, then it's good for people with Bitcoin, I think. And I'll just reiterate that you are not going to see this government in the states save you the way that you thought that they might if you were a big Trump 47 guy during the election. I think we did a good job measuring our expectations for Trump all along the way, even though a lot of people didn't. I just want to address mixed picks in the comments here.

I'm going to read what he said. There were two bills, a strategic Bitcoin Reserve and a U.S. digital asset stockpile. the crypto reserve was just them trying to figure out what they have or the crypto stockpile. I agree with you there, but I think percent was talking specifically about the reserve in this case. And he's mentioned it a few times since I don't think they're looking to buy either one. If they were looking to buy. I think they may actually be looking to transfer crypto stockpile stuff into Bitcoin at some point or sell it. I think that's a liquid expendable account, we'll call it, but the Bitcoin Reserve is not.

Let's explore this buy option, right? So they go out and they buy Bitcoin. And they wanted to be, like you said, what was the word? They used revenue neutral, tax payer neutral or something. Yeah, yeah, yeah. So if they are to buy, I assume and jump in if I'm wrong, it'd be through borrowed money, new borrowered money. Yeah. Because they're not going to be able to reduce their expenditures and use that reduction in expenditures to buy Bitcoin.

They'd have to add, and that's more debt. It's so funny. Now, by doing that, then that is essentially. essentially printing money to buy Bitcoin. Budget neutral is the word, yeah. Sorry, go ahead. Yeah, printing money by their coin. If they do print money to buy Bitcoin,

what's the signal you're giving to the world for the U.S. dollar? The U.S. dollar is worthless. I mean, we know this. The thing is that they know this already too. They can't play that card yet. Yeah. Maybe they can play it eventually. What about the stables?

The stables, you know, the case for the stable coins, is that, you know, they understand that domestically and in the, I guess we'll call it the developed world, so Mike's blocking my head on the camera. In the developed world, you're going to see a significant decline in demand for the U.S. dollar because of this and because of stuff like Bitcoin. And so stable coins are going to help prop up the demand by offering it to the third world. And, you know, that increases the demand for treasuries along alongside and all these different things. So I think they're kind of telegraphing that they think the dollar is going to lose value anyway. And in the sort of most obvious sense, they're

talking about devaluing the dollar for the purpose of trade and whatnot, right? So, you know, whether it's because they want to trade or because, like, we think a lot of Bitcoiners probably would agree, they want to accelerate their debasement to get out of the debt crisis they're in. I think they're already playing that card. The bigger card is, do they think something is worth more than the dollar, I think is the best way to put that to your point. And I think that if they do start buying with borrowed money, yeah, they're telling you that they think something is worth more. Signal, definitely. Yeah, yeah.

But the fact that you're not selling is an indication that they believe that to be a case. Maybe, yeah. But at least they're not actively going out to further devalue their dollar to. So I just want to say people who, we don't usually lose anybody at the hour. We actually gain people. It seems to me when we start talking about Notable North. But at the beginning of the Notable North, we're going to reveal a surprise on this show that I think you guys are really going to like. Do you want to do it at the show order, the Hamilton versus.

We should, no, we should do it in the middle. Just in case people don't make it all the way. We'll do it in the middle. And then from now on, we'll do that little thing before the Hamilton versus Brampton Man. So wasabi news came out today. And apparently, these guys from slow mist, they develop slow mist, M-I-S-T. They developed something called a mist tracker.

And that is a way to determine where funds come from using wasabi. So using that to do some coin. join to try the coordinator yeah so looking at this people using wasabi um interesting that there's a way to wasabi just released a 2.0 not many years ago right uh as i google it making sure i'm on some kind of government i thought it was just this year it was something came up with this might it might have been i think it was may or june of this year all your traffic is routed through tour ensuring privacy privacy anonymity that's the first line on the website holy smokes yeah so they're saying that this there's advanced

on chain analytics they're now capable using this tool using slow mists mist tracker tool and this was released just the past few days uh april sorry august 15th so on friday this came out interesting so i have nothing else this is all just do you believe it chain chain alice is famously flimsy in their uh conclusions so i don't know guys like this smart people francis among them talk about how these tools just are not they're it's a false bill of uh false bill of sale so you know i i don't yeah i i remain skeptical that this is actually happening and i think that the more these things are published the more it's like there's really focused messaging trying to keep people away from coin joining and that tells me that maybe it's not quite as easy to break as these guys would have

you believe oh joy market is uh i think the yeah the lightning use lightning lightning is good too So news this past week and Google came out with something and then backtracked. They made some headlines and they said there was new policy that was put in place that they were going to be forcing all applications on their platform on their Play Store to adhere to certain rules. So if you wanted to publish and have it on their Play Store, they needed to be KYC wallets slash AML. So the non-custodial stuff would have gotten to boot.

That was the original message. that came out. They came out, and I'm not sure if it was due to the backlash and the community or Google just decided, you know, they actually did to clarify this, that they made a mistake. They decided it's basically status quo. So you're still able to have those non-custodial apps that are going to be available on Google Play Store or just whatever. I can't believe there was a lot of. Yeah, I think I think this is, I think Google's not telling me true. And this is actually why Ben sent me a message on Wednesday night and said,

you should do, why are we bullish? We need another guy. We'll talk about the wallets. So I said, sure. And during the time that I was waiting for my slot, I went last, Google announced they were going to sort of pull back on this policy. Google saying it was an error never should have been published, didn't mean to capture that. That's obviously a lie.

If you look at the release, there's a table. Google put out very plainly exactly what they meant. It's crypto wallets. They think the crypto wallet should have to have money transmission licenses. This is, in my opinion, okay, so I'll put on my black cap here. In my opinion, all wallets will have to have money transmission licenses before the end of the 2020s. And it's because by any standard, they are money transmitters. If we think that this thing is worth money and it has a USD exchange rate and all this stuff, they will need licenses. That's number one. Number two, I think that signing software, Sparrow, for example, will need to be KYC AML as well.

And it's easy for people to say, and I saw this a lot last week, it's easy for people to say, well, we'll just fork the GitHub repo. or we'll just side load the software or we'll just do whatever. And to those people, I would say that you've sort of missed the boat on that because everything is so centralized now at the ISP level and similar levels that, for example, if you were going to fork that software, someone would have to host it. And so whether it's you hosting on your PC and using torrents, whether it's you hosting on some website, you name it. That traffic is clear net, easy to identify. And as people stop using it, it becomes easier to identify still for the people who are holdouts and continue

to break that law. That's one problem. The second problem is that, you know, the expectation of Bitcoiners, I think continues to be unrealistic that we will become global monetary baseline, global monetary settlement layer, global monetary, whatever, and not have to follow any rules. These are pretty obvious to me. I think those, I think wallets should, should at some point get targeted, or will at some point get targeted, I should say, whether I want them to or not is irrelevant. Obviously, I prefer they didn't. But, you know, it seems to me obvious that this is going to happen. And again, like, I think there still exists this like, you know, sort of

this jungle Vietnam warrior who doesn't know the war is over who doesn't know the battle has changed and it's no longer about like peer to peer transactions at the artisanal cheese market those artisanal cheese markets are great they're important I'm glad people are doing those things

but the idea that you're going to become global money without being at least looked at by big governments it's hard to imagine honestly and we've talked on the other show on Access of Easy about how now the government can target your ISP traffic without telling you

your ISP has to provide that information they're under a gag order as soon as they get the request you know there's very little opportunity for you as a Bitcoiner to know whether or not your traffic is being looked at and again like I always say these are not institutions like you know law enforcement for example is not particularly keen on giving you and out they will make you find a loophole find an issue with their practices find a way out of their grasp

but that initial grasp is tough and you know like i said on ben show guys like craig raw and other people who make wallets even our friend prevene you know is pervin really going to stand up to the U.S. government if they tell him the KIC? He won't, nor would they. They have, they don't have the resources. They don't have the, of course. They have none of that. But you know who does have it. Who? Somebody else.

Somebody else could just send Peter Todd, if he sells a few more ads. There's an example. But anybody that is just wants to remain anonymous, you could do that. And there's tons of ways you can remain anonymous and hide your tracks, your IP and stuff like that. I think it's, I think

it's really hard. I think it's way harder than we know. You may think it's very difficult, but I could go on GitHub right now. And I know GitHub is a centralized repository. Owned by Microsoft. Yeah. Yeah. But I could go and I could find hacking tools on there. Just simply, it exists.

It's freely available. And it's open source. So what I'm trying to get at is a lot of the tools that currently exist, like the Sparrow's and shit like that, they're open source. So if something comes out that forces they're makers hands

the people that are administering right now you have to follow these rules nothing is stopping somebody else to just pick it up and say I'm going to fork it and go into a different direction and not follow suit from that

except the threat of jail except the threat of jail wonderful and you could propose that to anybody nothing is going to stop you or I or I hope you're right

but I just don't see it I don't see it being quite as like, like I don't think, honestly, that we have the sort of like nuts for it to do it. If someone says to you, if the government says to you operating. You have to use a piece of software that's, that's been blessed by particular entity in order to use it. Yeah. You give the middle finger to that. You could simply, if you really want it to, fly to a jury, if you really want to to play by the rules, fly to a jurisdiction that doesn't have this type of thing. perform a transaction there, fly back, and you basically did it.

It may be very costly to do it that method, or you can just use a VPN or do it. You need support. The other thing I said on Ben Show is that for Google to write that in their terms tells me they have government support. To John, John's point in the chat, John says the encryption wars, established code is speech. It's very hard for the U.S. government to reverse that Supreme Court judgment for wallets. No one's suggesting they're going to reverse it. You can publish whatever app you want. But if you write an app that deals in Bitcoin transactions, you need to KYCAML.

your users. It's money transmission. If that ever happens, you become a, you become a person who is, who is facilitating the transfer of money. Yeah. And if that, if that, if that ever happens, that would have no fucking teeth whatsoever. It would just be all bar. I don't understand why you say that. I, like, I, I, I love the sort of Hutzvah from the Bitcoiners about this, but I just don't, I do not see that being the case in reality. I do not see that being the case. How could you stop somebody from learning a piece of software on your fucking computer? And all it's doing is signing a transaction on

a node which you presumably run and it's where it's located who the fuck knows because you have access to the I don't know physically located where you are yeah there's so many fucking ways I'm only saying

I'm only saying that we don't know what the community is made of for something like this. I don't hear what the community is you know what it is too there's a there's a there's a there's a truth to this. There's a lot of people out there and there's so much

hype about companies buying Bitcoin, publicly traded companies buying Bitcoin. And you know what? They could do whatever to fuck they want. But that's not Bitcoin, man. What Bitcoin is is a peer-to-peer electronic cash that cannot be fucking debased.

I have control that without, it doesn't adhere to fucking borders, all that shit. That's Bitcoin. So when the companies start buying Bitcoin, that's fiat and so like that's it's a totally different totally different topic altogether so when you're talking about this bitcoin is doing what you want it's right now it's within the laws and if they change it like come on man it's it's not going to be that difficult if one really wanted to

to continually use bitcoin and sign transactions without really getting your wrist lapped i i just i'm on that side of the fence and you know what side loading if you want to do i side loaded tons and I'll continue to side load tons. I have many apps that are not have any affiliation whatsoever to Google. They're F-Troid. They're open-source. And I'll continue to use those applications. I like supporting them and I like what they do.

And they help me. I hope you guys are right. I hope you guys are right. John in the chat saying the same thing. I'm extending a dubious argument. I don't view it that way. And we'll see. We'll see what happens.

Because remember what Bitcoin is. And anything else, like, And it's just, it's just fiat nonsense. That's what this is. There is a bit of back and a lot of going on here. Yeah, there's black and mold going on here that's going to get harder for governments, for sure. The question is, you know, can we push it out far enough where we are too far ahead of the hammer to worry about getting our heads wrapped? Anyway, that's it for the Bitcoin stories.

And we do you even talk about President Nixon's fucking decision? President Nick's off. Am I right? That's my name today. like that a lot uh yeah gold standard 50th anniversary nice no is it 50 no it's 50 no it's 50 got to be 55 54 yeah it was in 71 so 54 54 years yeah yeah france got you happy happy anniversary happy anniversary okay if you're on audio come back tomorrow if you're on video stay here don't forget i'm about to reveal a nice surprise and a new cbp partner so uh hang out

we'll talk to you in a second don't be a cock