The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Rate Hike. War. Bitcoin Goes Up Anyway.

Episode Date: September 22, 2026

Bitcoin is climbing while the headlines point the other way: a Fed rate hike, war risk and fresh doubts about the AI trade. Why is Bitcoin rallying through it—and how much can one move really tell us?This week, Joey and Len examine Bitcoin's strength against a difficult macro backdrop, the pressure higher rates put on markets, and whether the AI investment story is starting to show cracks. Is this lasting resilience, a temporary rebound, or a change in how investors see Bitcoin?What is the strongest explanation for this rally—and what would change your mind?Canadian Bitcoiners PodcastWebsite: https://canadianbitcoiners.comSubscribe and turn on notifications — new episodes live Monday nights.READ MOREFederal Reserve, September 16 policy decision:https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htmBitcoin's September 18 rally:https://www.coindesk.com/tech/2026/09/18/live-updates-hype-leads-altcoin-rally-as-bitcoin-recovers-toward-usd78-000————————————————————————————————SPONSORS🔒 easyDNS — Canadian-owned domains, DNS, email and hosting from an ICANN-accredited company that has accepted Bitcoin since 2013. Use promo code CBPMEDIA for 50% off your first purchase.https://easydns.com⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. CBP listeners get 25% off fees for life.https://app.bullbitcoin.com/registration/cbp🔥 256 Heat — Purpose-built Bitcoin miners that heat your space while producing hashrate. Tell them CBP sent you for a discount.https://256heat.com🎓 Bitcoin Mentor — One-on-one help with wallets, keys, self-custody, inheritance planning and nodes. Every package includes a 30-day money-back guarantee.https://btcmentor.io/aff/joey————————————————————————————————FOLLOW THE SHOW🎙️ CBP: https://x.com/CanadianBTCPod👤 Joey: https://x.com/joeytweeets👤 Len: https://x.com/thebtcpricebot📸 Instagram: https://www.instagram.com/canadianbtcpod/💬 Discord: https://discord.gg/YgPJVbGCZXLISTENSpotify: https://open.spotify.com/show/6WzoIyTowK47rcAmvrS7gtApple Podcasts: https://podcasts.apple.com/ca/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with/id1561002990RSS: https://anchor.fm/s/538d43f4/podcast/rss⚠️ Everything in this episode reflects personal opinions only and should not be considered financial advice.#Bitcoin #BitcoinNews #CanadianBitcoiners

Friends and enemies, happy 7% Candled Day. Sailor bailed out. There's a war going on. There's an escalating war that we kind of forgot about between Russia and Ukraine. The Fed hiked rates last week. And I mean, Len, all we do is go up. It feels good. We're going to talk about that.

And a lot more, including some new names you'll have to learn if you're in British Columbia. Nothing new there. We're going to blow your mind with some of the stories tonight. But first is always the. intro. And so, you know, the government can say whatever they want about this thing not competing. It's for black market only. It's for this for that. But they're really treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF. Can't be exposed to that. That's my view. It's not a good idea. And by the way, that'll hit MSTR too. It'll probably get other stuff as well.

Friends and enemies. Welcome back. Canadian Bitcoiners podcast. Friends and enemies, welcome to the CBP. Want to be better and form. Listen to Lenin Joe E. is taken care off right off the top. Oh, Bitcoin and easy DNS. The media is feeding the slop. How you feeling today? Rich, wealthy, correct, some combination of the three. Where do you come down?

Come on. Have a little fun with me. No, no, no, no. You got to be, I hate using the term humble because of the guys who do that all the time. But the reality is it goes up, great. It goes down. Great. I'm happy regardless. That's the reality.

He is tomorrow. I'll have more stats than I have today and I'll have more if it's cheaper and I'm not going to be able to spend it yet I have a long term plan and you know what it may be so long I just may give it to the next generation. I'm wondering if I may not even touch my Bitcoin at all so

you know I'm happy I'm a happy guy as long as I could do my stuff I have I don't have to rely on anybody I'm happy that's all that counts Joey I only touch my Bitcoin when I'm alone at night I am very happy to be here today with you and with all our friends and enemies, of course, here at CBP. We got a big show tonight.

Much to discuss in the world of Bitcoin, much to discuss in the world of Canada, and much to discuss in the broader clown world context. Well, first, as always, the sponsors of this program, Easy DNS, there's no one better. For all your registrar needs, you want to grab a website, it means you need to buy a domain. Mark can help you with that. If you want to bring a domain over and start a website and build it with EasyDNS, they can do that, too. If you want to try a Claudebot, not only for your DNS needs, but also, you know, if you want to just mess around with some stuff, hobby shop type stuff, Mark can help you with that. Two, you don't even need any hardware.

On top of all this land, virtual private server options, because more and more people want to do stuff like Bitcoin nodes, Noster relays, set up a BTC pay server. Get your enterprise off the ground in a way that makes sense with a team that makes sense. And obviously, we love Mark. He's a friend of mine, friend of lens, friend of the show, your friend maybe for all I know. And you can do it all for a 50% discount. If you go to EZNS.com and fill up your cart, use the promo code CBP Media. You get 50% off your first round of buys, which you really can't beat. I don't know anyone else is doing that.

So head over, get started today. Don't forget to use the promo code. And save a nice chunk, man. Can't beat that. Who else is sponsoring the show? Bull Bitcoin. Where you could buy, where you could sell your Bitcoin. Looks like a lot of people are buying.

Very few are selling based on the price action. today and you can buy with lightning you could buy with on chain so and you do it all private and they do it make sure that they don't hold on to the bitcoin that they sell it to you because they're a non-custodial exchange we've heard so many stories of exchanges going tits up and they take all the bitcoin along with it but bull bitcoin doesn't give you that opportunity for them to take the bitcoin you've got to provide a bitcoin address for them to facilitate the buy you can do limit orders you can do a whole bunch of things over there you can pay your bills joey i know you I know you have heard of somebody testing it out just in case somebody's listening.

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So check them out. They're the best. Can't beat it. Listen, we got to talk about some boosts. We got to talk about some profits and gains. We got to talk about some new names need to learn. If you live in British Columbia, let's do the boost first. So we got a couple from Rev Hoddle.

The first is 420s. And he writes in proof of 40 hours per week on only boosts. I love the boosts. I love the boost podcast and re-boost. Thanks for recognizing the boosters. Now rev. dot hoddle is the top five boosters. I like Rev.

I like Rev. So just a heads up. It's only the top five. But you got in twice because the second one, another 420 sats. He writes in, can you please tell this Canadian permi about Bitcoin? And he gives a link to a show. And it's called the permaculture vine. Never heard of it before.

Huh. And so he says the permies need to know about Bitcoin. It is the least extractive form of governments totally in line with the ethics of permaculture. Interesting. Let's tell them. Permaculture. Okay. Wow.

Bitcoin. It's there. See that ref hot will we told him about it. We get it. How do we break into that ecosystem? Who do we talk to? Who's the booking agent? Well, we got to find out.

I thought it was done. What the fuck is? Don't burst my bubble. Bitcoin Soldier, 500 sats. He says, a Solstiate member sounds like a different way to call the kids table. Yeah, a cuck chair, whatever. Something like that, yeah. Not a sats, 650 sats.

He says, anyone ready for October. What about September? Feels like it. It feels like it. I mean, this is a clean. break, by the way, from what you would expect at this point in a cycle. Not just a little bit of a deviation, a monster deviation for a number of different reasons, including that this is an election year in the States. So these midterm years, you hardly ever see this kind of price action.

And obviously, like, without getting on the corner of what we're going to talk about, rate hike, or like potentially what you might call a risk off environment. And yet, okay, well, let's see, I guess. it's time to shine it's sitting in the shadows for far too long in my honest opinion last but not least we have jair two two two two sats and he writes in i wonder how the liquid federation is going to prevent a bank run if the peg is ever restored a peg also yeah i don't know yeah he says oh for two tough start to the year for the commies i don't know what that means Elections maybe Germany

He's talking about German elections He could be talking about That's W1 What would be the second one Well there's two elections in Germany They lost both of them Although recently I think over the weekend Berlin went to a far left party

If I remember correctly I'll have to find out Or Jerry you can just tell me You could always just tell me Jerry Chile Chile yeah okay there we go Greg is saying Okay got it got it got it nice

Good to know I haven't been keeping up with that my Latam, you know, knowledge is down. And I see, Mark, you do you also talking to me about the commanders. Commanders, tough, tough starts of the season. Oh, for the commies. The commies, he's talking about the fucking football team. Listen, I think Jane and Daniels should try and play through whatever this is.

If he can brace it, put a donjoy on that thing. And let's get him out there because he's got to show that he can stay healthy. I don't know if he saw yesterday, Len, another. nasty elbow dislocation for Daniels. That is, he has a series of elbow dislocation. Yesterday, yesterday he had one and last year you had one too.

Get the fuck out of here. That's not a common injury that happens. It's not common and apparently there's no like UCL damage. He just has like a loose elbow. And so I don't know what they're going to do. My understanding just like over the last, you know, 20 minutes when I was in between BitCast and this

looking at Twitter, they are maybe going to operate on it in the off season and do like a Tommy John style like tie in for the elbow. Rest in peace Tommy John by the way. Yeah I know. I passed away recently right last week I think so yeah I don't know what they're going to do. He looked

great yesterday too which is too bad. He's a real stud athlete but you got to be able to stay healthy he's got the build of Gumby so got to work on that got to work on that. That's it for the boosts. Anything else you want to discuss before we dive deep into the stories? No I don't

think so. I'm going to put this on my Twitter feed. I forgot to do it. But yeah, we can just get right into it. I mean, maybe we'll start with the price. Price action today. It seems an interesting discussion. It's because, you know, like I mentioned, it's Bitcoin's time to shine.

Everything else, at least from my vantage point, it seemed like they had a pump with gold, silver, a lot of the equities, maybe not housing. Housing has taken a beating. But a lot of things have gone up. But Bitcoin, for whatever reason, in the past nine, 10 months, whatever it is, It hasn't.

And, you know, great stacking opportunity, right? Price didn't go up like everything else. If you're bullish, hopefully people were stacking away. And those that did, they're good, probably, not financial advice, they're going to reap the rewards of all this. You know, you look at what's going on right now with the bonds, like the 10 years for a lot of countries, they're going up and up and up. And there seems to be something that's going to break.

And people may be looking at this as one indication. The U.S. too, they're trying desperately to try to defend the, the yen because the Japanese, they have a lot of debt, a lot of U.S. debt. The United States doesn't want to see that hit the market. So anything to prop up the yen is going to be a good thing for the United States, at least keeping this thing moving along the way it is. Also, like kind of a side note, you know, the Germans, the euros, they're doing the digital euro, right, as being thrown into the mix.

And not that it's going to impact Bitcoin, but long term, I think it will, especially if you think what could happen with a digital currency. But, you know, like I mentioned between those things, also you touched upon it, the Fed, they raised rates, 25 basis points. And this first time they've raised rates since July of 2023, if I recall correctly. So to see them raise rates, Bitcoin go up significantly within a matter of days. To me, that is very interesting stuff. with all this being said

it looks like something is going to happen Bitcoin hopefully is going to be the beneficiary of this all you see the price of oil or at least the amount of oil that is being exported from places like Saudi Arabia even Russia Russia being sanctioned Europe was told by Saudi Arabia

no more oil is going to be coming in no more crew will be coming in next month oh by the way how the hell they're going to be driving cars and heating their homes also if you look at the price of diesel every day seems to be hitting a new all-time high, which is incredible considering the fact that, you know, the price

of oil, it's only around what? Like $110 per barrel? It was way, way higher in the past, but yet the price of diesel is much, much higher than it has been ever, which seems to be very interesting. Of note, diesel, I'm going into the weeds here,

diesel is going to be used heavily in the next little while as the harvest of the crop needs to be done, and all those machines are going to be fed by diesel. then the transport of all those crop done by diesel. Then on top of that winter comes along. Home heating, that's diesel. So it's more and more demand for this.

And the U.S., they are almost at capacity when it comes to production of diesel. So that's another thing we're looking at. This thing is just going to be, I don't know, something's going to break. And again, Bitcoin is going to be there to be the beneficiary of it all. And everything okay there, Joyce,

you're jumping around. Yeah, my wire's stuck, but we're good. Go ahead. All right. then, you know, $40 trillion in debt. How is that going to be paid? No fucking way. It's going to happen.

7% in 30-year mortgages in the U.S. People are not going to be buying homes, so price of homes are coming down. Expecting one more hike too in that market, the long end, yeah. Before the end of this year, we're expecting one more rate hike. You look at this and you see the price of Bitcoin go up that much. Overnight, you wake up, it's like, what the hell happened here? Haven't seen this in a long time. Very bullish.

But you know what? I'll be honest, Joey. Like I said at the beginning, even if the price went down or is held steady, I'm eternally bullish. This is a, it's a long-term thing.

I don't, I can't believe I'm going to say it. I think this Fiat gig, it's not going to collapse this decade. Maybe not next decade, but certainly not this decade. I can't believe I'm saying that I'll laugh. I don't have a problem with that.

I don't have a problem with that. But if you asked me a few years ago, I thought for sure, everything looks like it's going to, But I think this thing's got legs. And they will make sure that this thing runs as long as it can and as much as it can. But the fact that you will experience a lot of pain through the whole process, but that's pain they're willing to dish on you.

And a lot of people are willing to absorb. Bitcoin, unfortunately, is going to be our salvation in the long run. Short term, I don't think it's going to be going to see like, you know, eight figures, seven figures, but you know what? Six figures just around a corner. I don't know. Like I do feel like there's more, to your point earlier about this thing having been hidden in the shadows for a long time. I do think there's more and more people who are thinking like you and me in terms of, you know, they see the digital euro.

They see, you know, Canada starting to go this direction. The UK starting to go this direction, whether it's ID and tracking, whether it's the euro, whether it's the digital loony, whether it's interest rates going up, whether it's other traditional assets not performing as well as they want on the, freedom go upside. You know, things like housing used to give you a lot of freedom. They used to give you, you know, equity with which you could take loans at very low interest rates and kind of live your life. And the boomers have done this to great success with great success. But, but I don't think it's going to continue for too much longer.

And the reason I don't think it's going to continue for too much longer is because the political whims of the day almost demand that this behavior get stopped somehow. I will just maybe note two or three things. And I'll ask you what you think. We've had basically nothing but what we would have called bad news for Bitcoin, like three years ago, let's say. Clarity Act dies on the Senate floor. They don't get the votes they need. And instead of getting this clarity, as the name says, on the crypto asset side, who governs what, what things are as far as government's concerned, you basically get nothing.

You're going to get enforcement and precedent set by SEC enforcement events. And that's not really how you want to see rolemaking done. We were critical of Gensler doing that when he was in the SEC chair. And now we're, I guess, just going to let Paul Atkins get away with it because it's in our benefit. A story in a discussion for another time. But that's going to start happening. We would have thought that was negative a few years ago. Then you have stuff like the ETF flows over the last, you know, month, two months, three months,

largely net negative, including, by the way, last week where there wasn't tons of inflows. I think BlackRock only got about 100 million. in and you're used to seeing on these big up-riff periods, billions of dollars worth of inflows. And let's face it, you know, over the last three months, what do we up, 30%, 40%, it's a big number. From the 60-ish range to the 90-ish range, we're still off about 30% from the highs, let's call it. And maybe the last thing I'll say on the negative news, and then I'll give you a fun data point that Nathan gave us on Bitcast. We are in a war. Like there's a war around the world, whether it's a soft war, trade war, for example, between us and America and America and basically everybody, by the way.

A hot war between Russia and Ukraine that people seem to have forgotten about but is now back on the front burner. And also this war in Iran, you know, that's causing fuel issues like you were just describing. You're also entering into a period of instability politically in places like Germany and France where Macron has a 20% approval rating. Germany is losing elections to both the far right, far right, in quote. and the far left, you know, losing in, what is the German capital? Help me out here. Berlin. The party that just won in Berlin celebrated their election victory, listening to Arabic music.

Make of that what you will. All this would normally be so negative for Bitcoin that you would just expect to see at the best case scenario would be sideways job, maybe a little bit downward. You know what you see instead? You see the price of 86,000. Now let me ask you something. Today we had a 7% day. I think two or three days ago we had like a 5% day.

How many 5% days from here do we need to get to a new all-time high? Do you know? No. Tell me what the number would be. Eight. So eight times. A lot still. Yeah, you know what?

It's not as many as you think, especially when you consider that, you know, in this market like many others, if you miss the best 10 days every year, you know, is it directionally now. Let me ask you. And then maybe we'll get into MSTR's activities today. Do you think we are headed higher for the rest of the year? Or are we done for a prolonged period of time, wait for the election, wait for whatever? You know, where do you think we're headed here over the next five, six months? I'm a terrible person to ask for the price.

But that's why I'm asking you, because you're not thinking about it that often. If I were to guess, we'll probably stay like flat from here on in. Because there's going to be some updates, some down days. Where you mentioned the eight times you have to get 5% gains to reach the all-time high again, that's eight times without having any draw down whatsoever. I don't think we've had a huge upswing today. Let's hope it holds. If it's great, if not, great.

I mean, buying opportunities. So I don't know. I think it's going to be flat. There's just too many crazy things ahead of us. And I think that people are going to be pulling a capital. And just because they just need it for whatever. That's my guess. I don't know if I feel the same way, to be honest with you.

And I'm looking at like MSTR today. to MSTR up, whatever it was, 20% or something today. I don't know what the, or over the last little while. Like these guys are going to get bailed out too, which is another sign that maybe the bottom has MSTR.

Like they're, the price is going to go up high enough that they're not going to have to worry about that. I would, what I would call misadventures in the debt market, but that's, you know, my view and my view only.

It's obvious that this is probably going to work out for them now, which is funny. And I just said on BICAST, so I may as well say it here, I took another MSTR position last week. It's up like 26% or something crazy. I don't know what I'm going to do with it. I'll probably just hold it for a bit,

but just in the interest of full disclosure since I have been on this program bashing Mike and the boys over there. I honestly don't understand how they made it through, but I'm not going to argue with the animal spirits. The number is going up, and I'm happy to participate on that side. The thing I think is interesting or will be interesting.

is what they do as the price rises. So obviously you've had a ton of positive price action in Bitcoin. And what were they doing when the price was 60K? They were selling Bitcoin. Well, they were buying and selling it. Yeah, they were doing more selling than buying, though. And so now that the price is a little higher, what do you think? Like, if I was them, maybe you start thinking about selling Bitcoin to worry about that debt shelf.

But I'm not convinced they're going to do it, honestly. They don't seem to have to. I think they did an at the money offering. No, today they use the cash. reserve. So they didn't do it at the money for the buy today. But will they do it again in the future? Also, I think you're laughing at least in part because it's just insane that I have to think about what they do it at the money, the cash reserve. They're buying a CRC. They're buying a Bitcoin. They're selling Bitcoin. It's a superior fiat warped zone. It is. And the thing is,

I mean, in my opinion, everybody has their own point of view who fucking cares about that shit because I don't want to get into that. The further I am away from it, the happier I am because I know I have control of my fucking funds with Bitcoin. With anything else, I don't. And I don't want to live in a world like that. One thing

we fail to even bring up, though, with this price action of, you know, the price of Bitcoin was, we'll call it somewhat flat until about a month ago, a month and a half ago. It had the kind of a light civil war in Bitcoin with Luke and Crater and

that. It was more like Don Quixote, to be honest with you. I don't know if I'd say civil war. You had cold card getting absolutely derailed and you had liquid. I know that's not Bitcoin, but it's close enough to that. We'll just include it in the mix here. A lot of the AI that's impacting tons of the open source software out there. People have lost Bitcoin, the ones that were diligent and prepared with their tinfoil hats on didn't fortunately. And so even with all that and losing Luke and so forth, still the price didn't tank. And I think I'm looking at that as a bullish metric.

And when all this took place, especially the cold card, and the fact that the Bitcoin blocks didn't get full of people trying to make transactions to try to do something, you know, get out of their cold card that they had, the cold card generate the seeds for you. And still the transaction fees were very low at that time. That was very bullish for me. When I saw that, blocks not getting filled up and also the price not moving at all.

In fact, I think it went up during that time. That was, I even said it then. I'll say it again now. That's fucking bullish. That's the metric. It's wild.

It is wild. Yeah. That stuff would have knocked us off of our feet. You know, 18 months ago, 24 months ago, I don't know. Certainly before Trump was elected,

it would have knocked us off of our feet. I think. Yeah. I can't say. I'm trying to think like, well, think about, if this happens like five years ago,

maybe, if it happened last year. Forget we'd be at zero. Buddy, if Cold Card got hacked in like 2020, we'd be at fucking zero. Like that, like that would be a nightmare scenario.

Like the, the environment. So I'm going to use the Bitcoin and name only conference as the metric here. And so what do we have in 2021 as the keynote speaker? That was Jack Muller. right? Maybe the mallers or Bucaly in 21? No, you're right.

It was Buckele. 2022 was Mollars. You're right. So remember and then El Salvador being this Bitcoin Haven and how many people got rugged from that when they bought into getting either residency or citizenship by giving a Bitcoin. Oh my God. Even what's transpired.

There was people coming to CBP meetups when we had like a, me and D did like a pseudo CBP slash whatever meetup in Dundas. And there was a guy there. who was like, there'll be room for me, there'll be room for you on my couch in El Salvador when you're ready to admit. Like, no, man. That was a fucking flop.

You know what? It really shows you the long term planning it's not really, you can't count on it. I mean, I have long term plans, but the fucking plans could easily get derailed. Easily get derailed. So I have no idea if indeed

my plans are going to come through fruition. Hope they do. But if not, I'm a realist in the fact that anything could, happened. I'm looking at what happening as El Salvador, looking what's happening in Canada, looking what happened in Europe, looking at what happened to the United States too. Let's be honest, United States in Texas, for instance, you look at the Texas tech game. Yeah. And you could see, like, how things are changing. We got to start a Canada migrant caravan to the United States.

This is the move, I think. Are you seeing this, this story of the migrant caravan headed to the states from like some Central American country? They do that annually, don't they? Oh, God, I don't know. I remember they did years ago. Remember, they were like sending CBS news, like 60 Minutes was going to report on the caravans. God, what a time? I thought that was an annual occurrence.

I don't know. And you see you want to do like a northern one so you could do it from the north and just go down south? Like, how do we do it? What do we say? Like we're being oppressed. I'm trying to do Hamilton versus Brampton, man. I'm being silenced. I don't know.

We'll have to think about it. But anyway, it is funny that this stuff, like, yeah, the plans changed very quickly. same as the price same as the price you know just two weeks ago we're you know both us were trashing MSTR and now just one of us is trashing MSTR not so much things change in the world of the

Who's this guy in the chat? 40K by the end of October Dude that'd be so cool if we get to 40K night I'm buying you I'm buying tomorrow regardless how do I mute this guy no man oh you're not allowed I muted you you're band it's like

it's like around the horn you get banned for saying anything mean about Bitcoin. I'm not a big fan of beauty people for giving an opinion in the price because we're just throwing darts here. And the guy says 40K, all the more power to him, man. You know, it could happen, right? There could be a larger scale war

and it could really impact the price of Bitcoin negatively. Yeah. And it's not that hard for this to just get out of control. Trump doesn't seem to be like he's thinking long term. But it looks like they're going to go into Yemen. You kidding? Like they're the hooties are. They're talking about.

about, I mean, they have to do something with that. I don't know. Well, they can't, okay, sorry, not they have to do something. If they continue to do what they're doing against Iran, which it seems like it's going to long run out ward and nothing, they have to do something with the Houthis at the same time. They can't, they can't deal with one without the other. They got to deal with both at the same time. I don't know. Is this going to be a good thing in the end?

Like, do they have enough fuel to go around to feed the war machine and their citizens and also whatever else they have to export to the world to keep the world make sure the price of diesel and gasoline through the world i don't think this is possible i think we're in for some real rough times but a this is you know this is what it is and this is why we bitcoin and another thing i was thinking today too with respect to bitcoin if you know i was thinking man do you might lock me out from my cp if i go somewhere else and stuff like that i thought you know there's still an opportunity with bitcoin just pay somebody here to get access to the bank account,

withdraw the cash, if cash is still available, then buy Bitcoin and send a Bitcoin, give that guy 10% of the cut, and everybody's happy. I get my... It's doable. So, you know, with Bitcoin,

even though they could stop you from getting your money abroad, but Bitcoin allows you because it's borderless and permissionless, it gets you, as long as you have friends that you're able to trust, that's a key here.

You got to trust somebody. And as long as you're, you know, acting in good faith, you're going to be able to be doing okay. So, if I hold you, If I hold it down in Canada, I'll take your 10%. See?

We'll have a bidding world. We'll find somebody that's good money. Listen, if I get outdone by a TFW for your 10% fee, I'm going to be fucking pissed. I won't go that far. It's only going to go for people I truly believe in and having good hearts. Not one of those people there. Anyways, that's, it's for the Bitcoin price. I'm not sure if you want to.

No, that's good. That's good. Good day. Okay, well, I want to talk about 21 capital. We ought to. to. Your guy Alpha Zeta been busy over there. Wow. Yeah. So

this is the Bitcoin Treasury company that's not really a Bitcoin treasury company. I don't know what the hell they are. They claim not to be that. But yeah, their CEO is saying that they're going to be looking into doing something interesting in the future. And they may be offering up some

preferred stock instrument kind of similar to STRC or SETA, right? I'm looking at this. What's the point? You know, you already have, look, DGENs. What do you mean what's the point? Come on. It's very clear vision here. What do you know? Oh, yeah, yeah. So DGens are going to degen and they're going to find the most attractive

tool or offering available, be it, uh, SETA or STRC. So these guys, they have to provide a product that is more competitive than what those guys. I think Seda's already offering, what, 13% right now, which is pretty darned in daily dividend. Yeah. And STRC, I hope they move over to my suggestion and go to the By the Minute dividend. That would be one way to Rugpole Seda. So what could 21 capital do? They got to do 15%. They have to provide something that is better than what is being offered right now. It just can't be the same old, same old. It's just you're not going to attract as much capital because these guys already have been in the game for some time. And just because they've been around, they probably have, I can't believe what I'm saying it, more trust. in investors, but these guys, what could they do to really entice somebody to buy whatever garbage you're going to want to provide people? I mean, the thing, I hate to say, the thing that they could have done was just make Mallors the frontman and do it with him.

Nobody trusts Alpha Zeta. That's the guy that's Rafah Zaguri or whatever his name is. Yeah. Like, no one trusts this guy. Also, physiognomy check. Why does he look like he's wearing someone else's face? Does anyone else think that's weird? I'm not going to take too many shots.

I don't know if there's a story there. But like these things from like a public perception point of view, these things matter. And this guy has not been what I would call very popular on Bitcoin Twitter. I don't think that Seda, I think Seda, by the way, you know, is very interested in soon taking a shot at the king, the STRC guys. I think that they're really thinking about this because they are the most popular product, I believe, or have the best product. They're not the most popular.

They're not the $100. You know? It was very close. And they ain't buying back that preferred. Like they have that, like I always say, the car out in the morning, car in at night.

It makes a lot of sense, especially if you're in that currency. It might be harder for like you and I to execute on that. But if you're in the currency, yeah, like you're probably doing okay. The 21 capital thing has been a lot of turmoil there too. As far as trust,

like you said, which is a dirty word around here. but you have to admit that there is value when there's value when there's consistency and stability in the C-suite. And it seems to me like there's not consistency or stability either in the people in those seats or in the way they communicate their mission. Still not calling themselves a treasury company. They're talking about trying to get on STRC in the dividends corner.

I don't see the vision here, man. And you would think that with Lutton, involved, even at arm's length, they would get this right. And with tether involved, even at arm's length, they would get this right. And they don't seem to be able to do it. Like, how is this possible? Am I missing something here? Well, we don't know exactly what sort of, what product they're going to be offering in terms of the conditions. How many products, I'm not an financial engineer, neither are you, but Len, how many products can there be? There's a limit there as far as retail investors are concerned. You have to provide something

that is more lucrative. Right? So if they're offering 13, it's going to be better than 13. And when somebody looks at a number that's hired than 13, anyone's going to look at it and say, you know, I'm going to park my money there, especially if you mentioned one name that's backing this is Tether.

Tether's turning into a huge fucking... They're a fucking monster. They're like nation state size in terms of some of their asset holdings. Yeah, man, they're big. That should lend a little bit of credibility to this thing, not going to tits up. that they'll be able to keep this guy afloat. So if they could offer something that is more lucrative,

but 13% is already, it's a massive amount. What is inflation right now? The 8% in reality 10%. Depends you ask, yeah, but yeah, you're right. So it's a little bit higher than an actual inflation. Then they offer something that even better than that and still expect to make gains for however it is they want it to fund the 13% or 14%

or higher. I don't know. Yeah. This is stuff well above my pay grade, and I'm happy. The only thing I care about is how many stats I have today. That's it. I'm with you on that. Do you not think it's interesting to see companies that, like, they are, these guys especially,

were very vocal in terms of we're not going to do this, we're not going to do that, we're not this kind of company. Now they're not only headed that direction, but basically teasing that they're going to try and copy that playbook. in no uncertain terms. Like, to me, this is the bigger problem with the treasury companies. Again, there's like, there's three tiers here, right? There's the, we'll start from the bottom, as far as like how well capitalized and

what kind of moat these guys have. The lowest moat is ASST SAT, SETA, the strive guys. Their moat is that they decided to gamify this a little bit with a daily dividend and they can say that it's not gamified. I would disagree with that framing, but it's like something that keeps people coming back. Every day, like the DAU metric for these guys, okay, even though it doesn't really apply to financial vehicles, is fucking sky high. Because everybody in that currency who's got a little bit of cash is doing the out in the morning, get in the market, close at night. Easy.

They may actually even do it with the common stock there, which is another story altogether. Like they're taking it out of SETA, putting it into ASST, and they're going back into SETA at night. It's all in that ecosystem. Waldgarden provides gains, provides dividend. Great. There's tier two, which is MSTR and STRC. Now, their moat is that they are the most well capitalized. They are basically an invulnerable fortress with the price where it is.

And even with the price a little lower, debt shelf included, I hate to say. But it would have been hard for them to really buck that up to the point where they were insolvent and unable to pay the dividend, I think. that ship is a different kind of quality. And, you know, in theory, should attract a different kind of customer. Though, to be honest with you, it looks to me that it has not yet. And I think Fong Lee and Michael Saylor would say the same thing. It's underperform their expectations there. They talked about it a bit on the last earning call about how these AI videos increase interest,

but they're not increasing, you know, assets under management. Go figure. But there's also a third tier that I continue to say this. I don't think anyone really understands why I keep saying this. The third tier is the juggernaut. It's the Gaia-sized treasury that will take this from underneath you, cut you out at your knees, and do this better than you with a higher dividend,

with more assets under management, with more treasury backing. And in Apple's case, if they want more Bitcoin than MSTR, it would take them half a year of their free cash flow. That's it. If it really worked, they could do it better. And so I continue to think that, and this is me talking now as a guy who's holding MSTR, if you're in these stocks, you have to paying attention to this.

Because it only takes one announcement from one Twitter account or Walter Bloomberg or Zero Hedge or anybody. Who knows what this new Apple CEO is like? All these guys have to do is say one thing. All MSTR has to do is one thing wrong. All ASST and STA have to do is increase the dividend or do it. Like, there's a lot more competition here now than there was five years ago. And I don't think that competition is all internal. I think some of it's external too.

So just, you know, these things are all your point and you're correct about this, even though we are not doing the same thing strategy wise. No pun intended. You don't have to worry about any of this. You just hold spot. If you're buying spot, man, more SATs day over day, more SATs week over week, every paycheck you add a little. Every time you go to the store, yeah, a little.

You got a whatever, you got a shake pay card. You got a well, simple card. you see the Bitcoin rewards. Like, whatever you're doing, keep doing it. Yeah. There's, there's a lot more peace of mind on that side and a lot less commitment required on that side than even the simplest TFSA vehicle, in my opinion, these days. Yeah, it could be an absolute retard like me. And as long as you have access to your keys, the price of Bitcoin, if you have a long-term

vision, what happens to the price of Bitcoin today, tomorrow, next week, next month, doesn't really impact you. It's just the amount of stats you have. have at the end of your goal, the end of your journey. That's what really matters. So that's why for me, I don't have to think about anything. The price, what happens between MSTR, Seda, Bitcoin, I don't really give a shit because I have a long-term vision here.

And with respect to all this, like, this is just, you know, it's just more risk. You have to get involved. Like you say, you have to be more active, more, you have to read more about it. My time is already fucking split up. Yeah, same. I just try to simplify myself. And if all works out well, then the next generation is going to have over here

a nice paycheck thanks to Bitcoin. We'll see what happens as a result. I don't know. Maybe maybe well, I think it's going to be next slide. I don't think it's going to pump hard. I don't know. I mean,

I think it's going to pump hard, but I'm going to do everything possible. Man, oh man, just exhaust all my Fiat, whatever I have left. because I still have this house. That's the one thing I have. I do have ownership of this house. And I'm going to exhaust this thing as much as I can before I have to go to my Bitcoin.

Signal. Let's talk about Signal. Sure. And this is the private messaging platform. I think a lot of people use it. If not, you should at least look into it. It's available on Apple, Android, desktop as well, but you have to load it up first on a phone. And so what they're going to be offering now, up until now, you have to have a telephone number to register.

And they're going to be offering a numberless registration process, which is really cool. So to do that, you have to sign up and you're going to get with the sign up a unique ID and an account key that will not be tied to a phone number. But there's a caveat here. You have to pay $3. And it's a one-time fee, $3. They call it an anti-spam fee. And they say this is a way to get rid of bots and spam. And that would be mostly eliminated from the system.

Because we saw this in Twitter when people were able to spin up free accounts. And there was just no monetary value associated with spinning up accounts. And there was a problem a few years ago when Elon first took over Twitter. This is one way to make sure that there's no spam, or at least limited spam on signal. The fee, like I said, is going to be one time. And when you do that, there's going to be no way to link that account to you,

unless somehow information is, you know, I don't know sure how to do it. A leak? Maybe. I'm not sure how it could be done. But there is at the onset, it's not the greatest because the only method right now to pay is through Google pay.

And it requires a Google Playster, account. So I'm not sure how anonymous that's going to be. But in the future, they say they plan to offer other methods like Bitcoin. I think this is one that it's a no-brainer. And something like Lightning, I know Mulvad is a good example where they accept both on-chain and Lightning for their VPN services. And I can see Signal doing the same thing and providing the opportunity for people to buy a, one of these numberless accounts for $3 worth of Bitcoin. Not today. But in the future, this is the kind of stuff I like to see. And I can see Signal doing this in a not too distant future.

It just makes so much sense. So I'm waiting for Signal to do that. And if they do, I might just switch my account over. Do you need a phone number to sign up for Telegram? Yeah. Like, the last time I signed up, I needed one. It was like two or three years ago. Yeah.

I don't, I got to tell you, I don't have a spam problem on Signal. I got one on Telegram. Because I think in Telegram, it's not decentralized. right? So if you do appear to appear, like if you and I chat on Telegram, that's encrypted, but it's not encrypted and it's kind of, it's not decentralized in, when we go into group chats or to these channels or whatever they may be. So I think through there, they're able just to pick off people's identifications, their names, and just spam people away over there.

Telegram is notorious for scammers, sorry, scammers and spammers. But scammers, particularly, people trying to scam people for their Bitcoin and shit like that. Never ever reply back to a DM on Telegram. If you are, be very skeptical. They're going to provide you all kinds of bullshit. Like, give me this, give me that. Bro, they send you videos and voice notes now. Do you ever see those?

No. Oh, my God. The E girls, crazy shit on Telegram. All AI. It's nuts. Boomers are for sure getting nuked by that. Guaranteed. I think it's more than just them.

It's the people that come here, the TFWs, I think that they're also part of that group as well. Both the ones doing it. Bob's and Vigene, Bob's and Vigine. They're both a perpetrator. The people getting scammed at the same time. I think they're on both ends up. They're just scamming each other.

That's a closed-loos system right there. But signaling, you're right. I don't think I've ever gotten spam. then Signal before. Not that I can think of. But, you know, this is one way, I mean, I like what they're doing here. And a lot of people are telling Elon he should have done the same thing some time ago with X or Twitter to charge a, I think it was, Saylor was saying this more than anyone.

He was the biggest proponent of this where he was suggesting people pay a small, like a nominal amount to create an account. And that should be enough to thwart away all this spam and bought shit. Like, that was a good idea. It was good to see Signal doing it. And I hope they make some money in this. process. Yeah, I like signal as a service. I don't pay or donate to them, but them, telegram, a few other services, I'm kind of starting to think about, you know, supporting

financially. I don't know if this is going to be the fix they're looking for. You know what's crazy is you were mentioning Twitter there, sort of like the bygone era of just nothing but bots. There's still a ton of bots on Twitter, by the way. Man, that was before AI. Like how much of this stuff now is just like automated 24-7 bot spin-up, bot font. bought this, bought that, fake messages, fake videos, fake audio. Like, it's crazy. And this is, again, like, we're in sort of the infancy of this product still, the AI product, their consumer AI.

It is going to get worse and worse. And I think we've talked about this, too, like the number of people who we've heard stories about definitely not from, like our friends are not getting hit by this, at least as far as I know. But, you know, they're calling you and telling you, like sounds like your wife or sounds like your kid or sounds like, you know, and it's like if my wife wasn't sitting next to me, I would have definitely done a double take here and been like, what are you calling me for? Like, this is, uh, this is weird.

You need like a safe word or a safe phrase or something. I don't know. Like, you know, what's your favorite page in Kamasutra? Otherwise, you're going to lose your life savings to some fucking robot, right? It's crazy. AI, fuck. That's, I never heard of that type of thing happening. But yeah, I could definitely see it.

There was a story the other day. a guy tweeted out. I don't think I could find it on Twitter, but you could probably Google it or someone in the chat can or on Twitter can. A guy who got a phone call from his wife, and he was like, it sounded like her,

and it was just the cadence was a little off, but the only thing that really gave it away that it wasn't hers is that she was sitting beside me. Crazy. Crazy. Like, that's dangerous, man, big time. Yeah, it's going to be, yeah, you always got to keep your guard up.

And I still remember like one time on Telegram. This is the closest one I had was in Telegram. And somebody we both know, they were asking me for a quick loan for something in Bitcoin. And I'll never forget. It was like, I kind of suspected it was a scam, but he was trying,

he was trying to be convincing he was this guy. And it was like, I just saw you yesterday. Like, why didn't you ask me then? Really? That's someone not close to you, right? I guess to us. I just saw me, I just saw you actually.

And it just derailed everything. But that was before AI came in. It was just simply a chat. But yeah, you got to keep your guard up all fucking times, right? Like, it just, it's, you know, it's, it's a world where people want to get access to your funds. And with Bitcoin, it's not like the bank where you pay service fees and that's helping because, you know, they could create money at a thin air to make you a whole again. Or at least steal it from the next bank.

account over because it just, you know, let's be honest, the fractional reserve system is awesome. Bitcoin, you don't have that. You know, once it's done, it's done. So you got to be extra diligent with Bitcoin. And which leads me to this next topic, Sparrow. If you use it, update, update, update this motherfucker because version 2.5.5 was released and includes a number of bug fixes. There's some major security updates that come alongside this. I know a lot of people that use certain hardware devices, hardware like signing devices, use Sparrow as a method for

broadcasting those transactions. It's highly advisable that you upgrade your sparrow. It makes sense that you have the best and the latest version of stuff like this because with Bitcoin, there's no second way to, no CEO you can call to make yourself whole.

So when you do updated, there are multiple ways to do it, but just make sure you do it one of the ways that is recommended in which you are verifying the signature is correct. You're not getting some bullshit version of Sparrow. You're downloading it directly from the proper website. All that nine yards. Just be very, very careful with your Bitcoin and update your Sparrow because it sucks if you're going to lose anything because of security

flies. Dude, Sparrow, like the beacon of high, high quality user interface, you know, wallet sidekicks these days. Great to see that they've gone through a big security. security sweep, found a couple of things they didn't love and push an update basically right away. I think it's the second one since the cold card hack. So you love to see that. Meanwhile, other stuff like the blink wallet having trouble, number of other wallets like custodial. Yeah, obviously. But man, like there's a lot of problems still. And I think that most people are kind of, you know, problem fatigued at this point. They're not paying as much attention as they were during that first cold card week or so.

And so they're, you know, potentially exposing themselves in ways they didn't intend to. It's good to stay on top of this stuff. Sparrow is an easy one because it always gives you the update notification in the corner of the app. You can go verify the PGP key and make sure the signatures are right and all that stuff. You can't, you know, it's hard to do that other places. And Sparrow, I should also know if you have some other software you want to verify. You can do it in there too. Did you know that?

Yeah, you mentioned to me the last time we talked about a Sparrow. Awesome. Blink. You talked about blink very, very briefly. You blink, it's gone. That's how it goes. Bitcoin is gone. So this is formerly known as the Bitcoin Beach wallet, you know, Al-Zante.

And, you know, we haven't really talked much about El-Savon, I'm going into the weeds here. But El-Savar has not been a topic of discussion for obvious reasons. It just seems to me that it's just, it's done. There's just no turning back. and some people are looking at this what's going on over there and saying he's acting like a dictator in a way like just forcing things along then I don't know

I don't know if it's true of course the dictators here that are forcing things along just in the wrong direction right like that's the same that's an interesting analogy come on yeah it's the one thing that is notable too a lot of the things are being done here I can't believe we're going to steep into the weeds are being done. There was no talk about it during an election.

It wasn't an election. It was, this was just something. Who would vote for infinity migrants in an election? Nobody. Who would vote for, who would vote for criminalizing, you know,

a speech that's societally destabilizing. Nobody. Nobody would ever vote for that stuff. Obviously they didn't run it through the populace. But voting increasingly is like the fucking, you know, button at the crosswalk. It doesn't do anything.

It clicks to make you feel like you did something. But if it was that important, they wouldn't let you push that. You can't control the flow of traffic on the fucking corner. You can't control the direction of government at the ballot box. The inertia is too great. At the very minimum, the inertia is too great. But there's probably more than that going on. So back to the Bitcoin Beach wallet or the blink wallet.

This is an app that is available for your phone. And it is for Bitcoin and Lightning. So on chain and Lightning usage on that. By default, it's custodial. It doesn't have to be, but by default, it is custodial. And they say they had some issues this past week. On September 19th, they had to pause services because an attacker was able to get access to a limited number of custodial accounts. And with that, they were able to withdraw funds, aka rug them.

And they say this was only limited to a few dozen accounts that were impacted. And they say that all the impacted people were identified and made whole. So they paid out of pocket, I assume, to replenish their funds. And later that same day, this all happened on September 19th. Everything was back online because they say everything was fixed. We're still waiting for a full post-mortem on this. We don't exactly what happened, how it happened. We do know why, and what happened in particular, we just trying to figure out.

And so when you hear stuff like this and we don't have the full analysis, exactly what happened, and it's custodial and just go on and on and on, the faith in some project like this. I understand they're acting in good faith by making people whole. But my God, would you want to use this after hearing this story? You can't. Yeah. Yeah.

So it's too bad. So yeah, it is what it is. Let's see what else we have here. We could talk about Bitbox. They release something new. And you can now use lightning on their app. That's following the Megan update. And that's available using the mobile Bitbox app.

and it's available for public beta for all BitBox users. And according to BitBox, you keep your savings secure in the app. You could move a small amount of funds to your Lightning wallet for spending. And something interesting where you can recover both wallets with your existing backup. So with all this being said, you could then top up your Lightning with your OnChane. You could pay Lightning invoices. You could receive Bitcoin. You can move your funds back to cold storage at any time.

And to do this, you've got to navigate to the app and go to the advanced settings and enable lightning wallet. And then the Bitbox. I'll do it right now while you're talking. Let's see how easy it is. So you go to advanced settings, enable lightning wallet. And the Bitbox app is going to create the seed for you for your lightning wallet. And yeah, you could essentially cover it. Simple, simple.

Simple. Recover it like that. But, you know, there's convenience here. When there's convenience, what are you giving up? Generally, it's going to be privacy or security for the same time. It's always the case. One thing I forgot to mention, too, you get a lightning address alongside with. So, for example, it's Satoshi at bitbox.com.

And that would be your lightning address. You could use that to pay and do bills with that. So that's one extra level of convenience you have with it. But to go back to what I was saying, yeah, it's convenient. the backup is nice and the fact you can move funds back and forth is nice. But remember, if it's convenient, look into it. What are the tradeoffs? Generally, there's going to be something there that's if you're giving up privacy or security.

I like the bitbox. I have it here somewhere, I think. Yeah, there it is. It has the CBP fantasy football money on it this year. And I picked that one over basically all the other wallets that I tried just because it's like the easiest, you know. in and out, I thought that I had. And I like the interface.

I like the app. And I kind of also like that you can't open the app and see the balances unless the bitbox is plugged in. You know, they sent me a review unit. I've not done a review. I probably won't do a long session on time. But I will say, it's a pretty quality product. It's a nice mix of privacy functionality and some options in terms of the setup and backup and

all that stuff that you and me both like and both appreciate. So lightning, great. But what is the rule with lightning? Like you said, there's always tradeoffs. You cannot keep a ton of money on a lightning wallet ever. And I think this is another, you know, another friendly reminder from Len and I that unless it's in cold storage behind, you know, a signing device where the entropy is sufficient and you can do a proper signature without worrying about getting, you know, middleman or anything like that. It ain't your coin, man, there's there's times and places to use stuff like that, to use stuff like liquid, to use stuff like whatever. But in large amounts, I think the answer is never, right?

Is that fair to say? I got to get the baby monitor from outside this room. Hang on a sec. Or just keep talking and I'll rejoin you in a minute. Sure. No problem, Joy. Okay, you know what? Let's trash MSTR and all of the shareholders.

No, good luck to Joey. Hopefully he doesn't get rugged in the process. And yeah. So last thing we'll talk about is core lightning. They came out with a note this. week. Talking about Core Lightning, Joey. Sure. And the note they came out, and they say that they are investigating reports of potential issues affecting the experimental features in Core Lightning and that they urge all core Lightning

users running these experimental features to disable them. And while they immediately do some investigations, there's no confirmed reports of funds being lost. But there's been some vulnerabilities reported in Core Lightning in a past month or so. And as for the experimental features, why would anybody want to run these things? I know. Some of them includes dual funding and experimental slicing, splicing, sorry. So lightning already is kind of challenging to use to begin with. And it's, again, like Bitcoin, if you screw things up, there's nobody you could call upon to make yourself whole. So be careful when you use anything that says experimental with Bitcoin.

I don't think it's worth your while. Wait for stuff to mature before you start using it, especially if you're going to start parking a decent amount of stats in it. experimental features are a thing of the past for many users, I believe. You should not be ever venturing into that. Even when Cold Card was cream of the crop, I think a lot of people probably just skip the experimental features, the danger zone, I think they used to call it. I think that's just the right move for now, especially in a lot of these layer twos or let's say smaller team products, wallets, you name it.

unless unless you're confident that the co-base is under constant review, you're asking for trouble that Sierra we're in. I said it already. If it's anything but a nominal amount that's not going to, you know, you're not going to lose sleepover. It's too much. It's simple as that. There's no other way to put it at this point. Joey, I think that's it for the Bitcoin sign of things. Let's transition to the rest of the story.

Great. Yeah. If you're on Twitter, come join. this on YouTube. I would love to see you over on YouTube in the chat. We're asking people if they drink milk. The answer should be yes, but if it's not, I'm curious as to why. Join us if you're listening on the podcast feed tomorrow for the back half. And if you're with us tonight, I mean, don't go anywhere. Maybe get a glass of milk and come back if you want. But we're going to be here talking about clown world and specifically the Great White Clown North coming up here.

So stay tuned. Associate member, baby. Let's do it.