The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #158 (Bitcoin News) - Slipstream, MSM Gaslighting, US Dumps BTC

Episode Date: April 9, 2024

FRIENDS AND ENEMIES Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. This week: -Leveraged ETFs-US selling Bitcoin-Debanked in New Zealand-Slipstream is expensive trash-Uber Eats drivers in NYC-UK is going bonkers-MSM gaslighting-Toronto offices empty-GBI is the answer? and so much more 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: ⁠https://discord.gg/ESRCZWpb A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This 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. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠The CBP recommends Bull Bitcoin for all your BTC needs. With their new kyc-free options, there's never been a quicker, simpler, more private and (most importantly) cheaper way to acquire private Bitcoin. Use the link above for $20 bones and take advantage of all Bull Bitcoin has to offer.

The Canadian Bitcoiners podcast is just two guys and maybe a guest or two discussing Bitcoin, Bitcoin equities, and the related macroeconomic space. It's not meant to be financial advice, so please, if you're doing any investing, after listening to our program, do your own research, do your own due diligence, and understand that any money you invest can be lost. The show is meant for entertainment purposes only, and we hope you enjoy the program. name is that i think i just repositioned the camera and it'll be asked by mistake my name is joey that's len it's uh cbp but also land eclipse day it's a clip well that that border is growing on you joey you're sitting gonna be blocked out by that it's it's eclipse day i i don't know about you len i i went outside today look for the eclipse look for the sun all i could see was uranus did you touch it i couldn't reach i couldn't reach but uh dicey situation out there let me tell you i was just saying the land before we went on packed uh here in dundas lots of people

watching the eclipse in the driving park and uh different you know my neighbors are outside uh all taking pictures with their welding glasses on interesting stuff um but yeah as we were saying before cool you're not gonna get to see that again in all likelihood, right? I thought it was 2044. We're having another one. Len tells me it's going to be sometime when we're both returning to the earth from whence we came. Anyway, so what's going on over there? How are you doing?

Good to see you. Yeah, I'm not blinded from what I looked at the sun without any protection or the eclipse without any protection. So I could barely see you, Joey. You're just a haze over there. It's going to be fun. No, everything is good, man. Everything is good. good you know we had quite a price pump yeah overnight yeah i don't know what's happened since i'd be honest let's start talking about you know it's not we got

lots of other stuff going on besides price um i see you're playing with your ball when i first i was yeah i was uh brushing it we are the playoffs of this week so i bought this ball this is a gst prime i am hooked on buying footballs now because it's amazing like i said this to you before playing receiver for all those years you don't really think about the ball you're catching but let me tell you when you're throwing it's the only thing you think about and so this one you can kind of see has these uh leather the leather striping here so this white is a different material than the rest of all which is cool and then there's like stitching in the tip where your finger goes when you're trying to hold the ball to give you a little extra point of um texture and then uh sometimes i throw it off lace too depending on

like what we're what what play we're in god this sounds so dumb it's like beer league but we do have a lot of plays and so off lace you can kind of get your hands on a couple of different places where they're stitching too this is a good ball but i haven't um i haven't broken it in it's still a little slick although you can hear it right like it's not like made from the the parquet floor from the boston gardens no no it's just like you just it does it does look nice so i'll tell you that um but yeah it's um it's an ongoing thing anyway my wife is my wife thinks i'm not i'm like walking around the house brushing balls and like holding them spinning them, trying to get my hands on it quickly You ever do grip strength training?

What's wrong with holding on your balls? I know, it's important You ever do any grip strength training? You play tennis, you play golf You find that's important? In the car, I have one of those grip things Yeah, you do, eh? And you think it helps Right there

My car is out of service now The clutch Oh, what? and you think it helps right there yeah my car is out of service now the clutch oh what incredibly incredibly yeah well it's gonna come back hopefully in the next couple of days this is stuff that's this is beyond my repair because yeah it looks like uh it must have sucked in the air or something and the hydraulic clutch uh system and uh yeah i pressed the clutch down it never came back up and that's good where were you when it happened hopefully a new driveway or something no in the parking lot it was just i was happy that it happened there and you know even if it was on the highway i wouldn't give a shit it would i would just you know what would just coasted this

side of the road it's just yeah it sucked but you know what that came after the event thank you tom and nick for inviting us to your event on Saturday. It was a phenomenal event. And my daughter had a lot of fun over there. Your Life, Your Terms event. They do this two or three times a year. They help hold it at the International Centre in Toronto. This year they had Maurizio from Leaden as a keynote speaker.

I didn't stick around to listen to him. I didn't see his. I didn't see tom's economic update um it was a great event though like you and i go and they really pump us up like i you know they were joking with us that they called our names and put our faces on the slide deck at the opening portion of the present like the opening portion of the day and we weren't there yet so i feel kind of bad about that but, it's a great event because it's people who are all aligned in understanding that there's something wrong with the money in the economy and

we have to find ways to protect ourselves. And it's funny, I, I, the guy who was taking, um, was helping assign badges and give people names and stuff. This guy, James used to work out at the good life on upper James here in Hamilton, where I, where I worked out when I was living on the mountain. And immediately I said to him, I'm like, man, you know, it's funny. You get, you go to these events and you always see people who you see other places in your life. And these people have the same good habits. They have the same schedule. They have the same everything. Right. So I was going to the gym, you know, seven in the morning, 6 30 in the morning before taking my French classes. And, uh, it was good to see him and

meet him. I'm glad that he was there. A big show to Mark and Anthony who are doing their Finlay class online. Now, after running a pilot in person, I know Sabrina was hyped about that. A your little one was, uh, pretty excited to join up. And I went on the website to take a look how to do it.

I think I have to sign up for first. The, I think it's a trial before you're able to fully sign up. I couldn't find a way to just directly sign up without going through the trial so i don't want to do the trial i want to just sign up i'll reach out to them to make sure that's the process but yeah it's a fin um financial literacy for finlet and uh so she's she's very engaged and looking forward to talking even though she's not quite there she's turning 11 in uh 16 days or something like that but um i think she'll be able to survive that course yeah yeah so that that was good and then of course

the bull bitcoin guys where i spent almost my entire time there because as soon as you talk to those guys you know it first of all we talk to them all the time uh thanks to the partnership we have with bull for the show and they've become you know friends of ours and i've met them a handful of times like in toronto last year we did go to the bar one night. That booth, of all the booths there, there's a lot of stuff about real estate, vacation homes, different traditional ways to invest your money. Len, that was the busiest booth. You told me that was the busiest booth last time at the last event that I couldn't make it to, busiest booth again on Saturday. Crazy, man. The number of people who come in there and just say look we we don't know enough about bitcoin to buy on our own we want you guys to help us they were

they were wheeling and dealing the entire three and a half four hours i was there it was wild to see they had to bring in more people from this time around because the last time who was there who was there kev guillaume i don't know matthew matthew i mean no i mean everyone knows the names they're all they were they're all there was a loaded booth man and they're the the revolving door people coming through leaving with information about wallets leaving with information about otc white glove leaving with information about why bitcoin over other stuff why self-custody is important you can't beat that who else is giving you that and i'm not saying that's the response for the show truly who else is giving you that in the space nobody and if you're getting this

information from a guy named pablo like that's great that's mustache to match on that guy too i love that it's the first time i met so kevin and pablo is the first time i've met both i love chatting with them yeah but yeah it was nice meeting you all again yes yes if you're watching the show you know a lot of you guys, it's flattering, Len. Every time we go to one of these events, people come and they say that they watch us or listen to us. And Tom and Nick, you know, they loved our appearances on their show. And I mean, you can't beat it, man.

It's a community of people. And it's not just CBP. It's your life, your terms. It's other Bitcoin stuff. It's other investing stuff where people are realizing all at the same time, something is wrong. It's a movement. And, you know, I think I won't speak for you, Len, but I imagine you feel the same way i'm just happy to be part of it that's all it's nice to come here monday nights and do stuff on saturdays

although damn man an hour drive and started at like 8 15 that's tough on a saturday morning i gotta tell you that was a tough saturday morning for me i don't know the traffic was minimal i would imagine so it's basically just hey what do you live a 20 minute bike ride or something you're close to there no it took me 25 minutes to get there and plus on the way back remember i lost my car uh temporarily so it stung anyways joey it's time for our sponsors i think it's a good time to bring up that let's let's do it so easy dns mark, Mark and the guys there, what? Mark, why didn't he?

I know, he couldn't make it. He slept in, he said. Damn. So Mark, not great on Saturday mornings, but I will give a shout out to Mark and someone who listens to the show, tried to buy two domains and had a bit of a hiccup with the referral code. Mark hopped into action right away.

There is no doubt that Mark wants you, listener viewer, to be successful with your ventures on EasyDNS the same way we have been, and he will help you get there. So whether you want to register a domain, do some BPS stuff, Nostra Relay, BTC Pay Server, Bitcoin Node, you name it. Even if you don't know if Mark can help you with it, I guarantee he will try and he will give you the best of his abilities no matter what the issue is. We've been using them a lot we publish on our website a couple of times a week now you get the research report you

got the week upcoming our buddy bitcoin scribe posting some stuff there about payment apps last week very good article highly recommend reading that if you haven't already and eventually maybe a mailing list i don't know we'll think about it it's on it's on the it's on the roadmap it's coming it certainly isn't Our second sponsor is... Wait a minute. If you want to use EasyDNS, where do you even give the promo code? Oh, go right ahead.

There's a promo code. CBPMedia, go there. Buy a domain. You should be hoarding them anyways. Domains. Unlike Saylor says, the second best asset truly is domain names. You think so?

Yeah, I don't know. It's up there probably, right? Better than silver coins i think i think so yeah well if you got a good go there and use the code yeah yeah well bull bitcoin is our second sponsor and look at the price behind me 71 930 so there's a lot of people out there that have interest in bitcoin just because it's gone up in price and it's driving people to buy bitcoin and Well, Bitcoin is a great place to buy your Bitcoin. You can also sell your Bitcoin if you wanted to through them, and it may be a good opportunity to do so given the price, what it is right now.

They give you the option to buy not just an on-chain, but when fees are high. They're not high right now. They may in the future. They may very well in the very near future. So you can buy through Lightning. So you have different options. So you can still buy Bitcoin even in a high-fee environment

and still pay very cheap fees just simply using the Lightning option that they provide people. And other options they do provide is you could pay your bills with Bitcoin. Again, price of Bitcoin being almost $72,000 right now. It's a good opportunity to start spending the Bitcoin that you've accumulated in the past, well, however long you've been accumulated Bitcoin for, and you could use that to pay your bills, like a car payment,

a mortgage, a electrical bill, whatever the heck you have. Also, you could use the Bitcoin through bull Bitcoin and buy gift cards and spend that in the real world. That's a really cool feature, but the last thing they have,

and it's going to be mothballed for, uh, well, I'm not sure how long, but at least we have one week left of this temporarily yeah kyc free buys you go to canada post april 15th it's the last day you could do this you go to canada post load up your well give them canadian dollars and to load up your bull bitcoin account with that you go buy kyc free bitcoin i talked about the merits of owning it

you got seven days six days ish to buy it through GoldBitcoin. 15th, I think, last day. 15th, yeah. So I'm not sure if it's the midnight of the 14th. Somewhere around there. I would say don't do it anytime past Sunday next week. That's my suggestion. But use our promo code below. And if you do that and open an account, you'll be having $21 added to your account once you provide all the necessary information and fund your account.

Or just go to iwantbitcoin.ca Perfect. So now we can return to our regularly scheduled programming ball brushing ASMR. Brush it good. Rub it up. I got some boost, Joey. You could rub your balls while I do this.

Suck and root. 315 sacks. The European Union has no chance when Bob Burnett rolls into town. Grateful for his personal and electrical energy for keeping both the network and the asset safely in our hands. By the way, I think Doug, for the first time, joining us in the live stream here without it being past his bedtime, thanks to where he's hanging out tonight. I don't know if it's past his bedtime. Is he at West? I thought he said that in the tweet.

I got to look back now, but I think he said it's not past my bedtime, which is great. And he's enjoying a Peony Lane wine too. Ben Justman showed up. Very nice. MoeBTCDick, 500 sats. He writes in,

Fuck, I love Bob. So do I. He's great. I disagree with disagree on walker take but that's fine we'll talk about that another time mo btc dick 500 sides again same thing he says you guys see the hud eight reddit ask me anything yes i did i did he writes absolutely tragic stuff i i did see a little bit about it but i didn't you know um i know they had to move it from one form from from one subreddit to another because getting downvoted every time they reply back maybe you could give some insight into that before i move on to the rest of it i wonder if

maybe all caps could give some insight into it since he would know better than me probably thanks to his connections with the reddit team the reddit crowd. I don't know, AllCaps, if you can share something. My understanding is that they posted it on the R-Hut8 or R-Bitcoin sub, and it just got obliterated by downvotes and reporting from people who were like, we don't want to see this shit here. It's not Bitcoin. And I happen to agree. I happen to agree. And you're starting to see this more and more, man. The miners are falling out of favor. I was listening to McCormick today because he had on James Lavish and Eric Yates, and he's got Iris Energy, who we've had on the show. We had Dan Roberts on many moons ago. And one of the things that we've talked about since as far as having certain miners

and not having others is I don't want miners who are like, no, no, we're a data center company now. That's exactly what all these guys are doing. They realize that there's not going to be money in mining long-term and instead it's going to be something to do with compute. Now, I will say a favorite of the show, Cathedral, looks to be expanding in this direction too. I have faith in Drew and AJ and the team over there that they will not sell out the Bitcoin mission like some of these other guys have. And so I want to have Drew and AJ on at some point when they finish their operation. But to go back to what you're saying about the hut thing, hilarious, hilarious.

What did you think was going to happen? Reddit AMAs hardly ever go smoothly unless it's like Bill Nye. That's like the only probably guy you could go on Reddit and do an AMA. Cuban got rock rock too he got destroyed yeah he's there's not been a good i don't i don't ever go to the reddit home page like the i'll go home page but i've never had like an ama fed to me or sent to me that people thought was good or went off without a hitch most of the time it's like gotcha questions these people have been avoiding i don't know who in their right mind would do a Reddit AMA. Honestly, I guess if they ask us,

we're not, you're going to say no. I'm out. I'm out. I'm only, I'll do a video AMA. That's it. I'll only do audio.

There you go. So you, yeah, the end in the end. So, um, doomed to Mazda 521 sats, made X rules.

Respect. I think the best time we ended up, we ended up kicking made X all from you guys all from you guys what you don't want to share the number no i don't want to so we won't share the number we won't share the number we don't have to but it was it was a nice chunk of change man that will i'm sure make things a little easier to stomach for him as far as that whole dave bailey jpeg thing um this morning so yeah we sent it all this morning, and he's very grateful. Huge, man.

So you guys really came through there. That's outstanding. It's amazing that we have that kind of community that can do that for somebody. So, yeah, so the next boost you're going to be sending us, we'll send it to a different cause, and we'll report that once we get there. So right now we'll just accumulate. Doom the Madsen also writes in for another 521 sats. Thank you for your time.

He always writes that. Our time is scarce, then precious like Satoshi's are. Wow. He's expanding the boost text. Nice. Okay, good. Sir Snacks a lot, 850 sats. Bob convinced me to point my miner to Ocean Pool.

Gotta help contribute to decentralization. Really enjoyed him coming on and sharing his ethos. Yeah. So he said during your interview that Ocean gets more Bitcoin per tera hash when he points his hash there than other pools. I was surprised to hear that. Yeah, he's getting a better reward from just pointing it over there. So yeah, take that for what it's worth. If you're looking for more rewards, and this is indeed the truth, so you you probably get better value by doing that yeah so point your hash rate to okay you ocean you uh you do the first story do the summary i'm gonna try

and fix my camera while you do it okay well we'll just be really quick on this one because this is one i'm curious to hear your thoughts the united states they are moving forward to sell off some other bitcoin they've been continually doing this for past well several years and this time around it it's uh looks like a bunch of bitcoin has been moved to coin bet coinbase sorry and this is bitcoin that they confiscated several years ago in fact this was during the whole silk road fiasco. And since they've accumulated this Bitcoin from this particular seizure, they've made massive gains just by holding it on their hands. So this amount that they're moving to, I like the thumbs up, this amount that they're moving to Coinbase for selling, it looks like it's 2,000 Bitcoin in total. This only represents some of their overall bitcoin stash the united states government is holding on to a significant amount of bitcoin and

it's suspected eventually they're going to dump this all but anyways the process of this whole move was actually pretty funny because initially they moved only around 65 worth of bitcoin to that coinbase address. I'm guessing it's a way to test out that they understand how Bitcoin works before they move the whole enchilada. But the value which they moved was ultimately $131 million. But it's funny that they started off with just $65 worth just to make sure that they understand the whole process. I got to give them credit.

At least they're doing it the right way. They're being being prudent but it seems like they don't have the right people working over there in terms of understanding what bitcoin how to use it but anyways the estimates show that the united states still have about 30 000 bitcoin on their balance sheet balance sheet just from silk road and they have so much more bitcoin so that 30 000 bitcoin that's about you know worth about two billion dollars that's as of last week it's you know the price of bitcoin has gone up since then so that's a lot of money they're holding on and they have another address the united states does that holds another 94 000 bitcoin around six billion dollars that they confiscated from hackers now that's six

billion again i'm quoting from last week's price so things have changed since then the question i have for you joy i'm curious as to the answer to it for this because i couldn't find it why are they slowly selling this bitcoin this time they're moving 2 000 to coinbase to sell and i presume they're going to move their remaining 30 000 from the silk road and sell that as well but why not do it in one shot doesn't it make sense for them to do this or just you know piecemealing it doing 2 000 here a few thousand there is that advantageous for them i'm wondering like what's the the thoughts behind this they got to sell it to cover janet yellen's ipa habit you see her bomb down that beer in japan

or wherever she is china her and blinkin they're out on some people they're up it's an uh indian pale ale india pale ale someone in the chat can correct me. It's the real hoppy beer. Anyway, every time I see Janet Yellen, she's bombing down a beer overseas, either mushrooms or beer. It wasn't a story before. She's on mushrooms on her last trade trip. I don't know why they're doing this, Lan. I have no idea. I do think it's funny that they're clearly sending test transactions. I don't know what else that could be. You got a couple billion in Bitcoin and you just send like 60 bucks or whatever. It's so obvious. I love it. I don't know. I can just imagine the room where there's like five people in there, four of them or three of them are extremely competent guys like you and me who have Bitcoin on their own, understand how the

transactions work, understand addresses and things like that. And two of them are just old head blue plate boomers. And the kids are like, yeah, let's just send this stuff. We can get it all there. One shot, pay less fees,

whatever it'll be. It'll be obvious, but it's going to be obvious either way. And someone in the blue plate side of the table goes, shouldn't we send them just a little bit first and make sure it works. They're like, well, I guess it's prudent to do that. I could them but okay fine but it's still funny like this is

the government you know like that's not that's not what they should be does that somebody that has never used bitcoin exactly exactly but once you've done it once then you understand the process and you just you know just make sure that the the address matches what you're copying and pasting then you're okay but the first time you ever do the I know you're like, you're apprehensive. Is this going to move? Is this going to be lost? So these guys, they might be just sheer rookies for that. I got just that it's just interesting how they're doing it.

Yeah, I would love to know why they're just doing this just in small chunks. Also two more items I just want to add to this. Sure. Wonder you and you talked about it last week. They're using coinbase that's the the the exchange you're trying to nail to the cross and they're using them to sell their bitcoin that's number one hilarious the second thing and odell i think was the first one i've ever seen mentioned this this is several times several months or maybe years ago he was saying if bitcoin is something that is something like cocaine, for instance. When you seize cocaine, you destroy cocaine.

But when you get Bitcoin, seize it, but sell it, it's legitimizing it. Right? You wouldn't sell something that you wouldn't want to have a lifespan to it. You wouldn't want the life continuing to that. If you truly think Bitcoin is bad, if you think Bitcoin should end, just like they would say drugs, like cocaine, for instance, they would destroy it, but they're not doing it.

They're selling it. Yeah, I get that. That's a pretty good engagement tweet from Matt. But I think the real thing is that if there was a cocaine exchange and a cocaine ETF, they would sell it. It wouldn't matter

what kind of destructive behavior it caused. The thing is that there isn't. So unless KJP is going into the, you know, alleyways of Chicago or whatever, and just going like, Hey buddy, like you need a dime bag, half an eight ball, like half quarter or whatever, like you're not gonna be able to sell it. So it's not, it's not possible, right? It's better to take the PR and just say yeah we do we destroy every um every bit of coke and whatever else we seize right but for for bitcoin it's easy to sell it we know they're starved for cash they can say whatever they want about oh we just sell it because we don't want it

or we don't believe it's worth anything and but it's clear that they're getting something for it you know they don't just sell it and then actually you know what they do sell it and burn the money they send it overseas and do whatever with it but um generally speaking i would say what guns i don't know good question good question you know i'm honestly like i'm not convinced that like a lot of pds even destroy drugs like you know people have drug habits in those institutions too and i i can just imagine that there's times where they don't get seized or don't get put into evidence or don't get whatever i think it's irrational or naive to think otherwise. Not pointing fingers, not naming names, but it seems unlikely that over a broad swath of all these different arrests and confiscations

at all, it gets into a lockup somewhere. I mean, Law & Order SVU didn't make up the evidence tampering episodes. They heard it somewhere first, I'm sure. So anyway, yeah, I don't know. Do you think they're going to ever mention this down the road? When Bitcoin hits 100K, is Peter Doocy going to ask Karin Jean-Pierre, hey, by the way, you guys sold. You can't figure out the SPR and now you can't figure out Bitcoin either. You're losing on every trade you try and make. What's going on over there? Is Arthur Hayes in your R your rolodex can he be running your your prop desk at the white house because you're getting fucked every time you get on trading do you might want to

bring in some outside help and it's never going to be discussed at least not for the next year we have an election coming up that's going to be yeah yeah but yeah we'll talk about the election later this really wow early for us for the election well we talk about it every week because always something tangentially do it sure yeah anyways keep on the coin base topic because they announced they're going to be starting to have the lightning network offered to its customers now it's going to be some time before this is ultimately rolled out, but they have at least announced this. And from what I could tell, they're not doing this with their own personnel in-house.

They're using LightSpark to help them bridge this connection here, which is, I don't know, it leaves a bad taste in my mouth, the fact that they don't have or they choose not to have the employees do it in the house but anyways if they could outsource how much you know about light spark very little to be honest so let me let me give you some oppo here this is from uh the research i usually do i didn't put in the newsletter but i knew we would talk about this so people online are pointing out a number of things here it's run by a guy named david marcus you know david marcus is dame name doesn't yet ring a bell maybe it will i went to i went to

school with a guy named david marcus actually but it's not the same guy uh this guy was the chief tech officer behind the libra attempt about six years ago. Yes. Yes. Okay. When Facebook basically tried to dethrone the USD out of nowhere, tried to make their own currency, obviously, you know, kicked down immediately by the U S legislature. So that's his claim to fame. He runs light spark,

which is an a 16 Z company, Andreessen Horowitz coin base, also an Andreessen Horowitz company. And, uh, Iessen Horowitz, Coinbase, also an Andreessen Horowitz company. And my understanding, listening to All In and looking at Andreessen's, if you go back in Andreessen's tweets, you can see he promotes a lot of the times where his portfolio companies work together. And so, you know, if you listen to guys like Odell and Marty, they'll make the case that, and I think it's true, like it's, it's like demonstrably true that Andreessen Horowitz really promotes his companies to work together, wants his companies to work together.

So they kind of, I think, fit here a little bit, but I'll tell you why this is concerning. I think David Marcus was the guy, and maybe if all caps is still here, can he tell me, or can he tell me if I'm wrong about this or one of you guys listening, watching, is he not the guy who tried to get lightning to KYC with some kind of like improvement request where you just add a text field to lightning transactions and the text field basically is like filled in with your address and name. I thought that was him or that he was part of that or light or light spark was part of that. And I'm not a hundred percent sure if that's the case.

I should have looked, but I was thinking about that earlier and I can't remember. Someone tried to do that a while ago. I am sure that we talked about it. And I'd be curious to see if anyone else has seen that or heard that. So the Coinbase lightning implementation is going to be dog shit. You know these guys are in bed with the SEC. You know these guys are trying to appease regulators at basically every turn. You know Marx's history is with CBDC adjacent products and projects. And you know that he tried to get this stuff through in Lightning as far as identification. Then when you add to that, that Coinbase actually won't let you use Bitcoin unless it's on their platform already for transactional stuff. You're only going one direction. They're trying to build a bit of a walled garden. Now they're way too late because there's so many other Lightning implementations

that are ahead of them. And I think as an exchange, they have a lot of people who are not using Lightning anyways. So I don't think it's going to work for them. And I'd be curious to see how much traffic they get when they start doing their quarterly reporting. Armstrong will have to talk about this. If there are any competent analysts, you know, in late April, early May, I forget when their report is, but there will be a question about lightning implementation. And if there are any competent analysts out there, like I was saying, they will ask the question, don't you think that you're too late to the game here? And how many of your customers, given that you've been telling us for four years, basically since you went public or three years since you went public, that you're a trading

platform and you cater to traders, you cater to new tokens, you cater to all these things. Don't you think that this is a waste of time unless you're doing it for other more nefarious reasons, like trying to get people to KYC on Lightning, which is famously opaque. That's something I think I want to keep an eye on. And I expect that he'll have to answer questions about that. You're more of a Lightning guy than me. Do you think that they can make inroads as far as market share for Lightning wallets, channels? What is the plan here? It's still very difficult. Coinbase doesn't have any of this stuff built into their app functionality at the moment so what what exactly is the plan as far as rolling this out if i'm gonna guess and it's just totally a guess it would be similar to the bull bitcoin model where

if you're gonna buy bitcoin and move it to well so you could custody your bitcoin and if fees are rather high then it's going to encourage users to not use on chain and pay a hefty fee and use an alternative like lightning and pay cents. So that's where I'm guessing that's how they're going to be using it as a way just to have users buy Bitcoin and take custody of it with not without using on chain. So if that's the case, then two things are going to happen as a result. Number one, you're going to take away some of the congestion on-chain. I'm not sure how much congestion

Coinbase adds to on-chain right now, but if they're going to be offering Lightning as an alternative and people choose to use that, then obviously it's going to take away some of the on-chain demand. But on the flip side then, Lightning does have a ceiling in terms of how much

uh capacity it could deal with and we talked about the scaling issues with lightning right now so you think they'll push it close to capacity if it if it really is successful it like negates the whole attempt anyway that's interesting it brings us closer to the capacity i'm not sure if if we're dangerously close with this being implemented but it's just another set of users that are going to potentially be using it. And then, you know, are we then how much closer are we to the capacity of the lightning network? And it's a good thought,

Len. That's something needs to be addressed. So it's good and bad in a way, like to be perfectly honest, having us achieve capacity and lightning network is bound to happen. It be today, tomorrow, next year, 10 years, it's going to to eventually happen you don't want to accelerate this thing i don't want to use that term uh you don't want it to push it any faster so to speak you'd rather have let development go on

its you know on its own but coinbase if they're going to offer lightning as an alternative and i'm just assuming this is what they're going to be using it for. For people to buy it on a high network fee environment, then yeah, it's just going to make Lightning, well, more congested. And is that a good thing? I think so. Let's put more money in Lightning. Let's put more thought and ideas to scale it

out and move from there. But I don't know. That's just my two cents. I really... I got to be honest. And it's funny, Mark in the chat is telling me I should have a cope session on Coinbase. This is it, Mark. I'm coping. This is it right here. I wish that they would have thought like this three years ago. Because if they had put out something like around a lightning implementation three years ago,

they could have taken arguably some of the better minds that came to the lightning space over the last three years to try and help scale this thing and given them the resources they needed to get products out that could have negated things like the high fee inscriptions thing we just went through and are continuing to go through. But instead, they fucking tried to make money on it. And they offered this other stupid layer two thing, base or whatever it's called, and shit coin offerings. It's just frustrating for me as a Bitcoiner and as a bag holder of that stock that they're three years behind. and try and do it. The people on Coinbase don't want Lightning. They don't care about it. You guys missed the boat here because you didn't implement it when it was new, novel, and needed to be built. There was opportunities to co-opt some of the influence and build in Coinbase product, but they didn't do that. Lightning is probably better off for it.

I will admit that. But as far as a business development angle on this, I think it's really poor. Honestly, I think it's really, really poor. I'd be curious to hear what SB says. So maybe I'll ask him, see if he's got anything to say about it. And if he's got an angle, I'd love to hear it. He's not as technical as you and I, but he will be looking at their reporting when it comes out from both the point of personal interest and because it's part of his job. And so I might ask him and say like, hey,, what's in there about this? Is there anything of note fee structure wise? That's the other thing, right? Their platform is admittedly, even the ETF custody is not going to make them enough money to keep the stock price where it is. They need trading fees. So what is the plan? Is this going to bump trading fees? Argu arguably this reduces trading fees does it

not you're not taking like i i i don't get i don't get it spreads the spread is still the spread and yeah yeah i know i know that i know that but like people sending i don't know i just they're not taking the fees the fees no they're not you're right yeah yeah you're right you're right i i got myself there but it's just like i i just, I, I look at this company and every time they do something and make a huge announcement, I just think that you're late. You're late again. You wasted two years doing something that didn't take off. I mean, the base thing is one thing that we don't talk about a lot because it's, you know,

just outside of the stuff we care about, but the, not the base thing, the, what was the thing they launched like an NFT platform? Remember that? And it got like a million dollars of traffic in like six months, like nothing. You know what I mean? Like that's, it's like, you guys completely missed the boat completely. And like, it's too bad. And it tells me something about corporate culture there because Armstrong as a leader and as a Bitcoin guy, I think honestly, save your tomatoes, don't throw them. But he gets it. I think he gets it. He was anti-woke. He told his staff, no politics or fuck off. And that company has since been producing. The problem is the production efficiency is all going to the wrong stuff. That's the problem.

And I don't know how you fix that that's corporate that's a corporate culture issue and it's not fixable just because the guy doesn't want to talk politics in his slack dms it's it's not you have to have vision and i'm not convinced that he has it it's time to jettison him and get somebody else and damn who was putting in there no gosh no i i don't have the competency let's get francis in there let's start the yeah running coinbase hashtag turn it turn it into a bitcoin only let's make it you know give them the same type of features that does full bitcoin but you know what the problem is i don't think francis would ever do that

is once this is a problem with every company out there every exchange out there that once you become publicly traded you become you're trying to chase fiat gains and this is unfortunately the reality is what you're trying to do you're trying to um appease your shareholders it's not trying to appease you know it's not even about like that's even that's even too esoteric it's you have a legal duty to make money for the shareholders whatever that wherever that road takes you you have you must follow it and you are seeing that with publicly traded companies in the space we talked about this offline i will not discuss more but coinbase is one example we talked about but there are others too there are others too well since we're talking about fiat let's talk about fiat options for traders out there

because there's a couple of things i just want to bring up that i find it be interesting it's number one pro shares they've launched a this is the very first a daily 2x bitcoin etf and love it how much did you buy how much did you buy 10 000 did you buy? How much did you buy? 10,000? Did you buy 10,000 first day? Why would I even do that? We have something similar to Canada. It's not a leveraged one. But anyways, so BITU is the ProShares Ultra Bitcoin ETF. So that is the bull case.

And SBIT is the ProShares Ultra Short Bitcoin ETF. So that's the bear case. You have BITU and SBIT. Both have been listed as of April 2nd on a New York stock exchange. And for those who are thinking about using this, remember these are rebalanced on a daily basis. So it's advisable not to keep your money in there, especially if Bitcoin is going sideways

for some period of time. If there is a long period of time of Bitcoin going up or a long period of time of Bitcoin going down, then yes, it may be advantageous to buy something and keep it. But who has a crystal ball to predict this stuff? So this is just for traders out there who want to take advantage of volatility that exists in Bitcoin. So I'm definitely not going to buy any of this. It's available only in the New York Stock Exchange, so why do we care about buying it here in Canada? But anyways, I'm not sure if you have any thoughts on this.

But I do have another story I'm going to add to this. The MSTR one, right? Yeah. Let's talk about it. I like that one. So I guess tied to the first story I was talking about, keeping up with the fiat options out there, there is a new inversed leverage.

It's an ETF that's been filed. The prospectus has been filed by defiance. And what this is, is a two X short on MSTR ETF, the ticker and the fees. They haven't yet been publicly made available. So this is going to be the twice daily inverse performance of MicroStrategy. So similar to what I was talking about the ProShares, this is now specifically to do with MicroStrategy. And there's only the short, the 2x short.

There's no bull case here. This I find really interesting because you're talking now a Bitcoin etf that is tied directly to the price of bitcoin minus the management fees yes mstr you're investing in a company that does software solutions uh but does have a significant amount of bitcoin on their balance sheet so it's almost a derivative of bitcoin now you're going to be having the potential of having a double beta it's almost a derivative of Bitcoin. Now you're going to be having the potential of having a double beta. It's double beta. You get the Bitcoin data plus the MSTR. It's,

this is going to rip people's faces off for sure. Anything is going to be possible here because MSTR has had a wonderful run up in the past 15 months or so. I'm not exactly sure, but it's been a great time for people that have invested in them. But what goes up eventually does come down. There's going to be some balancing. I'm not going to say MSTR is going to go down,

but you never know. Seven straight months of green for Bitcoin. I'm not sure if we're going to have an eighth straight month. We'll see. Potentially we have a halving coming up, but either way, that's a topic for another time. I don't know.

There seems to be a lot of interest in the shorts. Granted, this is not the most shorted stock out there but still there seems to be a significant amount of interest in shorting mstr now you have an etf that's going to be 2x the daily uh leverage of the daily inverse on that like i don't know what's going on is that how like how inclined to self-harm do you have to be to take a 2x short on MSTR? The fiat mind, some of the fiat FinTwit guys I get sent from friends of the show, like Masa will send me stuff sometimes. The people in his sphere, Masa Capital is a pretty big FinTwit account, a medium-sized FinTwit account, a medium-sized FinTwit account. The number of things on his timeline are people not only hate Bitcoin, but hate MSTR and hate

Saylor. It's a pure just black, my heart is black, icebox where my heart used to be for the millennials play against Mike Saylor. It is. How else can you describe this? There's no reason why you would ever risk this when the price of Bitcoin moves basically on animal spirits only at this point. It is true. I like Bitcoin. You like it. I get why it's valuable. Don't get me wrong. But to say that this thing is not volatile is a lie. And if you're going to risk 2x short on it, fine. But then to risk 2x short on the high beta derivative in MSTR, are you trying to lose your house? Why would you ever do this? I don't get this at all. Unless Bitcoin plummets overnight or something, and you wake up in the morning and buy that double, that 2X short,

or buy the first bounce and the 2X short or whatever, then maybe you do okay. But ultimately, when we talk about how the SEC is all about investor protection, unless it means they can actually make money, where's the protection here? Who's asking for this product? Defiance is the name of who's providing the prospectus. I'm not sure who's going to be, who has the- I would love to see them. Yes, prospectus. I'm not sure who's going to be... I would love to see them. Yes, they have. I mean, I feel like right now.

Well, remember, I mean, this isn't obviously under the SEC's jurisdiction, but Binance at one time had 125 times leveraged trades you could do. And I think other exchanges offer that as well. And if they're offering it, there's a market for it. So there's people out there. It's all options ETFs actually. So they have like, yeah, there's a few here. NASDAQ 100 enhanced options income ETF, S&P 500 advanced options income ETF, Russell 2000 advanced options ETF, Treasury alternative yield ETF, and S&P 500 Advanced Options Income ETF, Russell 2000 Advanced Options ETF, Treasury Alternative Yield ETF,

and S&P 500 Income Target ETF. So it's mostly derivative stocks. There's some other stuff here too. Quantum. I don't know. Come on, quantum. Give me a break. 5G ETF.

I don't know. I get it. But these guys look like a small player, unless there's more here. No, there's not. They only have about nine. I never heard of Defiance before this. That doesn't say much, to be honest.

Yeah, me and you are not the target audience, I guess, right? But interesting all the same. Like I was saying, if there were companies out there that were offering up to 125x leverage trades, there's traders out there. I don't know how much money is floating around that's waiting to be invested in this. But you know what? There's people that they're trading everything and anything. And here's just another option. You know what?

The stock market, it's just we make fun of Binance being a shitcoin casino. Like, come on. It's not like the New York Stock Exchange. Yeah. Same type of like it's. It is. Of course. Of course it is.

Look at the stuff you can get. They have zero day options. They have zero-day to expiry options. It's like insanity. Insanity. And ZeroHedge already talks about... I'm going to sneeze here. ZeroHedge already talks about how the Bitcoin ETFs get nuked by derivatives, and

then that's when you see the big guys buying up their Bitcoin for the ETFs, and that's when the price jumps again, right? Now, zero hedge is a little doom and gloom, a little conspiratorial, but sure does happen an awful lot. And so when you talk about, again, investor protection, show me legitimate, tangible investor protection that these guys have done in the last five years. There's nothing.

Zero. Zip, zilch, nada, nothing. So what are we doing here? this is not like if you're trying to hide it there's no veil this is clearly a dangerous product i should not be allowed to buy this i should not be allowed to buy this because now that what is what's the next logical step right is it the 2x long mstr i i'm shocked that they're only offering one of the two like the pro shares to their credit they're offering both sides of the spectrum so if you want the long or sorry if you want the the bear case or the bull case you have the options but these guys are only providing the the bear case it's it len as if there's not as if

there's not enough divorces being caused by the mstr run up over the last you know like you said 15 months you got to double the the intensity the inertia behind your your asset value decline why for what now to go back good for you for not sneezing on the air have you ever listened to i'm gonna go to the weeds here we have listened to some guy named we're gonna lose what's he do he just trolls people on games like nascar and call of duty so the nascar one is just phenomenal stuff so we're gonna lose on on youtube i'll find it like you know somebody's gonna pass him he sneezes a pretend sneeze and he wrecks them he says it so many times it's such a good channel and the reaction he's getting

he plays football and when he's the quarterback he runs back to you know he's like come back come back come back. I love that. I just, I laugh when you say on, on, uh, YouTube rabbit holes. I sent the corn Lords a video the other day.

I'll, you guys should watch to video game. Donkey talking about donkey Kong country and how he's like, I can't believe anyone even plays the game. Cause the intro music is so good. And he just talks about the music in the game is, it is awesome. It is a very good video. I love it.

Yeah, I'll send it to you. I'll put it in the chat. I'll put it in the chat. You keep, keep, keep going here. Well, let's talk about three stories. I clumped these together and these are stories that come from mainstream media. So you ever hear of bitteroo yeah actually i think wow what is it what is it i man i'm not guaranteeing i've heard of it but i

think i've heard of it so they're an exchange and they're an australian based exchange and they are australia they claim to be aust's biggest Bitcoin-only exchange. Okay. And they also provide services available in New Zealand. Well, they announced this week, unfortunately, that they have been debanked in New Zealand. And their payment processor cannot provide payments in the quote-unquote crypto industry. So, yeah, I don't know, man. When you hear stuff like this, and we hear a few of these every so often and when i every time i read it it seems like it's an indirect attack on

bitcoin and i suspect you're going to hear more of these moving forward because it just makes sense one way to hurt bitcoiners is to prevent the on-ramp or at least limit the on-ramps and maybe use the the very friendly very friendly like coin bases of the world is the answer yeah this is so and so that's one story so then this is the second one that's why i wanted to clump all these three together is there's a proposal out there by lawmakers in paraguay and this is to temporarily ban Bitcoin mining for six months. And whenever you hear the word temporary, who knows, it's going to potentially become permanent. It's something that is troubling, obviously, because there has been a effort to expand Bitcoin mining operations in South America, Paraguay included. Paraguay has has 100 of their energy

coming from hydroelectric so the narrative that bitcoin uses dirty energy it doesn't apply here because all the energy that's being produced is quote-unquote green so they say one of the arguments of the law that they're proposing is that there are many illegal bitcoin farms so people are plugging in equipment without talking to where are we in the timeline here where there's governments announcing that there are elite something called illegal Bitcoin farms that need to be shut down. I guess I didn't have my bingo card. Well, it goes further joy because not only that, and they say this is going to provide some measure to quote, protect consumers and quote of virtual assets. I don't know how this is going to provide some measure to quote protect consumers end quote of

virtual assets i don't know how that's going to be the case how this provides a level of protection for consumers but they believe this is the case anyways that's the second story the third story is strike it looks like they're getting pushed out of argentina because their payment partners they're winding down operations so users in argentina can no longer pay with bitcoin through lightning and argentina they have introduced a regulatory framework to closely monitor cryptocurrency transactions and platforms this comes after melee came into power yeah and so the regulation 994 you could check the argentina regulation 994 it says all wallet providers must be listed and regulated so they want to know who has what and have to be regulated as well and who could have

seen this coming who could have seen this coming let who could have seen it coming i you know i'll be honest i had no idea i i had i I'll be honest. I had no idea. When he was elected, I had no idea which way he was going to go. I gave him a blank slate and basically let him go. But anyways, these are three stories that I kind of clumped together because they all seem to be an attack on Bitcoin. So I'll just rehash them. We have the Bitterroot story. We have the Paraguay story.

And we have the strike getting kicked out or at least hurt in Argentina. So two of the three South American American stories that to me is concerning. Remember South America, they're trying to push mining in those areas. Also the citizens over there, they've been wrecked and wrecked and wrecked over and over again. Let's give them an opportunity to, to buy an asset like Bitcoin and use it.

But I guess it's all to lawmakers if they want to allow that to happen. We'll see. Isn't it true that you and I have been very skeptical about almost all politicians since Eric Adams, maybe even before that? Remember Eric Adams? Do you remember Eric Adams saying, Insane, Suarez, Adams.

Like now I just assume all these guys are crooks. I mean, politics is a very difficult game to get into and to keep your principles intact, the things that got you the expectation now. That's the baseline that anyone that's not playing ball with the same level of cooperation that Coinbase is or TakePay is or whatever, they're going to have a hard time. You've seen it here with Bold Bitcoin. You've seen it with Kraken in the US. You're seeing it with Bitteroo in Australia. That's expected for me. And I think that's something we all have to be concerned about. And we've talked about this before, so it's not new for people who are listening and watching. But the thing that is new is the zeal that people had in their support, like steadfast Teflon support for this Melee guy. one after another, garbage, big garbage, big trash, government departments, equity, gone, music and arts, gone, this one, gone, whatever. Well, how's this going for you now? Now this guy is talking about IDing everybody who's got a Bitcoin wallet. Good. What's your plan to get rid of them? This guy, you got completely fleeced. The lesson here is that no matter who you vote for, the inertia heading towards the algorithm ghetto is too strong to

fight back against with an election, period, end of story. You can vote as hard as you want for whichever color. I saw a quote a little while ago. It's like people reach into a bag of marbles where half of them arebles where half of them are red and half of them are blue. They cry if the wrong color comes out and cheer if the right color comes out. At the end of the day, they're all just fucking marbles. And you're at that point now. I think a lot of people realize that. Bitcoiners realize that because everyone's been meaning this vote harder thing or whatever for a long time. But you can't vote your way out of this. So what do you do? People have to vote with their money, right?

And so you vote with your money. You vote where you put down roots. You vote where you find employment. You vote where you contribute to your community and things like that. But voting at the ballot box, it doesn't do anything. Even in the countries where politicians are sort of the most adverse to, we'll call it, this sort of modern Western direction, you still are counting on basically four years of bubble wrapping the politics and principles that got them into power and not conceding to what is ultimately just an incredible grinding machine

in every Western democracy. No one escapes this. There just hasn't been an example of a politician who's ever ruled the way they campaigned. The best example of this, I think, is Obama. Obama ran on this campaign of change and hope, and he dropped bombs like they were cod killstreaks all over the fucking world. For eight years, he did that. And he didn't run on change at all. He put in the American Health Care Act, whatever that was, the Affordable Care Act. That was a handout to insurance companies. You got fleeced.

And that should have been the wake-up call for people. And in the States, to some extent, it was. They voted for Trump right after that. But this idea that you know whoever you vote for is going to really help you and deliver on the promises of salvation that they make in order to get you to scribble in their name at the box you got another thing coming and if you don't get it by now i you know like a wise man once said i don't have time to explain it to you what did mele say about bitcoin through his campaign because to the best of my knowledge he said nothing yeah i don't think

so either he was just more of an anti you know big state guy but i mean that's it's in line i think you and i described him as a bitcoiner without bitcoin right he has a lot of the same ethos but clearly now he's not you know clearly that clearly that was, you know, that was, I think, cautious optimism on, on our part. And he really, you know, put that on his head. So I think he, what he campaigned on from, from my vantage point, it seems like he delivered on those, not pretty, he's delivering on those promises. He said he was going to be cutting the public sector and he does,

he's done that. So the stuff that he's talked about, I think that's, he's gone ahead ahead and but there's things that he didn't talk about and people were trying to fill in the blanks yeah and unfortunately they filled it in wrong that's the reality that's one way to put it yeah it seems that way right and it's still early right who knows how much further he'll go he's this is true early days for him to be doing this right away that's that's not promising i don't think well remember mike harris when he first was elected yeah he told people who mike harris is if they don't know we have a younger crowd sometimes i think he was the premier in like 96 in ontario right like that yeah okay 95 to 99 and then 99 to 2002 ish before ernie

eves took over him he was our premier in ontario he took over right after bob ray's ndp were in power and so when he came in ontario was coming out of a recession and they were heavily in debt and so he was saying he's gonna be slashing and burning that's what his campaign was they elected him and he did exactly what he did and people were upset at that because a lot of people suffered as a result of it but that was his campaign and he did exactly what he did and people were upset at that because a lot of people suffered as a result of it but that was his campaign and he followed through on that and for the first term the second term he sold it to 407 for or at least it for 99 years to win because they don't care second term president prime minister premier or whatever just doesn't care because they no longer have to worry about votes right and in canada it's a little different i guess you can just be premier indefinitely and until you die or whatever but

no there's still there's a there's a shelf life exactly we agree on that it's it may not be codified but there's for sure a shelf life in every you know ruling epoch so yeah 100 it's like like a coach in sports it's yeah it lasts for only so long. Can't lose the locker room. Yes. And in this case, the constituents. One, I guess we'll do one quick story, maybe two more, depending on what time. I just want to, this is really, really quick.

There's a lot of noise out there. And if you look at what's going on on stack or on X, there seems to be a lot of noise out there between Seedsteiner and CoinKite or Slash and Coldcard products. Now, I just want of noise out there between seed Steiner and coin kite or slash cold card products. Now, I just want to say out there in this, I have no skin in the game. None. I have cold card.

I like my cold card. I recommend a cold card. There may be other products that are just as good as better. I'm not sure of any right now, but I'm not saying that there are all recommends cold card to write. That's in their sweet Odell. A lot of guys recommend cold guys recommend cold card you're not alone yeah it's like a good product so there's so much noise out there try to sift through this and there's gonna be a lot of fud being thrown out there i'm not trying to say a particular product is what you should be buying like i said i like a cold card i use it do your own research there may be something better out

there but i haven't come across it but just please do your own research there seems to be a lot of mud being slung around and it's just i think it's hurting the community more than anything else there are good products like i mentioned cold card is i'm not going to upgrade my cold card i have i could buy a q and the reason why i'm not going to buy a q is because i like my cold card i would hate to see that mothball and collect dust buy a queue is because i like my cold card i would hate to see that mothball and collect dust i that's how much i like my cold card i want to continually use it moving forward and it's not a slam against the queue that's a testimony testament to how much i like my cold cart but just all this garbage is being thrown out there the mud's being mud being

slung name calling and arguments and all this bullshit man oh man i fucking hate it just if you are out there you're trying to look at a product to buy try to sift through that noise out there there is signal but you just have to find it it is there yeah agreed yeah i mean ultimately short of short of ledger uh maybe trezor too i don't know that much about what they're going i think I think they have a Bitcoin-only hardware device now, but you're not going to really do

too much to move off what you have. Like Glenn said, if you have a hardware wallet that works for you and you understand and are competent with, it's really important. Cold card's not for everyone. Seed signer's not for everyone. Ledger, Trezor, whatever, the foundation devices, Keystone, you name it. Lots of options out there.

The new block one, what's that one called? The Pebble or something? I forget. But yeah, tons of options, man. The most important thing is it's secure. Your keys are offline. It's open source and you know how to use it. You have to know how to use it you have to know how to use

it that's important uh everything else is just noise including the mudslinging online so one of the things people are saying is that cold cards is not open source source verifiable you can look at the source code you could but the thing is because they own a source code they're not going to allow anybody to take advantage of it and to profit from it and And that's fine. That's their prerogative. If they want to do that, that's their choice, but you can still, if you want,

you could check the source code. It is there for you to look at. And if you think there's something that's fishy in it, I don't think anybody does, but it's freely available. Check it out, take a look at it. And yeah,

I guess I'll say one last story really, really quick. Sure. This is just hot off the shelf. Bloomberg is saying that el salvador is buying back some of their debt and this is a positive forward-looking indicator and it shows that the solid footing of bukele's government is standing on so they're saying they're going to be buying back bonds at risk as risk premiums, the country will be offering to repurchase bonds due in 2025, 2027, 2029.

I am eating crow on this in a major way. Well, I'm not sure. I just thought this is interesting. I talked to Jaime Garcia two weeks ago. No, let me not. And we talked significantly at length about what's going on in El Salvador. The country has turned around. It's like 180 in terms of the safety and the economics over there.

There seems to be a lot of positive momentum going on over there. So lots of work to do, but it's so much better than it was a few years ago. And it's a lot has to do with Bukhali's policies that he's instituted. So what's going on here? I like what's being done here. I talked in the past about the bitcoin bonds i wasn't too impressed about them but with respect for them trying to buy back the bonds it goes to show you that i think they're doing the right thing and they're thumbing their nose at the imf through all this and i like it i'll be doing more with other fingers to the IMA too, I think, actually.

I'm pretty sure. The thing about El Salvador and Hervoye Morich, who's a friend of the show, everyone should be listening to Geopolitics in Empires. It's a good show. He raised a good point with me after we recorded and it might have even been during the program too.

Bukele's made public comments about how he wants to turn El Salvador and the rest of LATAM into a European Union style state. And that's one thing I wanted to ask Jaime. I didn't go to that episode, but I do want to talk to him. Maybe I'll message him on Twitter or Jaime if you're listening.

What do you make of something like that? Isn't that alarming? Because that's really, really dicey stuff to basically abdicate your sovereignty to a supranational body that's largely unelected. I mean, Len, if you think it's hard to get your city councilor to fucking do something for you, wait till you see what it's like when you only have, you know, a representative in a supranational legislative body.

It's, I'm sure, much harder as the European countries are finding out the hard way in a lot of ways. But it's like the worst thing you could say. And it really flies in the face of everything else he's doing. He doesn't seem bothered by outside influence when it comes to stuff like the IMF, but wants to hop onto a multi-state structure with other Latin countries.

Why? Either he thinks he can be the dominant player in that ecosystem that environment which i don't know a little machiavellian but it works i you know i get that but what's the other rationale what could the other rationale be that he wants to to take away sovereignty from people or from his state or i don't know i don't know what it is details like if it's strictly like just engaging and uh setting up trade agreements with other countries maybe uh then you can choose your words a lot more carefully right he's he's very careful with what he says as jaime has pointed out he comes from a pr background and a sort of a you know uh light show and and fireworks background figuratively

speaking of course i don't think he actually does you know pyrotechnics but you know he so he knows what to say and why to say it and how to say it for him to say that he's not he's not just talking off that he you know he never speaks off the cuff i would argue and i think that for him to say that is a little alarming i don't know i mean i'd love to go back on the show anytime. So we, maybe we got to have him back on. We can have Jaime and Hervoyer on at the same time and maybe get some, some insights there, hosted a little debate between those two guys. Let's make it happen.

If it's possible. Good. Listen. Yeah. I think Hervoyer can only really rip. Oh no, maybe because he left TNT radio. So maybe you could do one at night.

I don't know. I'll talk to him. We can see about that for the summer when the schedule dries up. Yeah. Well, you know what, Joy? Let's wrap up this Bitcoin segment and move on to the notable stories. Sure. Looking forward to the notables. Yeah, if you're on video, do nothing. If you're on audio,

I guess, I mean, you could also do nothing, but tomorrow the rest of it will come to your feed. You can do whatever you want if you're on audio really do nothing. If you're on audio, I guess, I mean, you could also do nothing, but tomorrow the rest of it will come to your feed. You can do whatever you want if you're on audio, really, but video, please stay there. We'll see you when we see you. Don't be a cuck. Are you a fan of the old school NHL 94 game on the Genesis or SNES?

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