The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #174 (Bitcoin Stories) - Bitcoin Conference Wrap Up, Bank of Canada Monetary Policy Report, Throwing Poop

Episode Date: July 30, 2024

FRIENDS AND ENEMIES  Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST.   From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com ⁠Discord: https://discord.com/invite/YgPJVbGCZX 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/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer.

Friends and enemies, welcome back. CBP, the Mighty CBP Media Network, the Mighty CBP Podcast. We're back. My name is Joey. That's Len. It's Monday night. You're here. We're here.

Our wives are upstairs alone. And we're ready to talk about Bitcoin, economics. There's going to be some politics tonight. Of course, I mean, there has to be. NBA Jam. We'll talk about NBA Jam as well. We'll talk about Jason Tatum getting zero minutes and having to clap along being reduced to the jason garrett clapping on the sideline role for jason here was a third string quarterback though so he didn't have i mean when i was a lot

of he's got a lot of experience clapping on the sideline you're suggesting not his first time clapping on the sideline as the cowboys coach ivy league princeton's own Jason Garrett. Remember, he was behind Steve Berline, Wade Wilson. Was he? Rodney Peet. Yeah. Rodney Peet, Carolina Panthers great Rodney Peet. He ended up on the Cowboys after. And so Jason Garrett was the third guy on the list.

And so the rules were at the time, remember, if you bring in the third guy, you're not allowed to play either the first or second string quarterback until the fourth quarter. So that's why the third string will just sit there. And it was perennial third string. And because he had a mind, he got into coaching. He was a perfect third string quarterback. Yeah, not a good coach either.

So the mind is very much up for debate. I'm going to ask you, Len, you know, as we usually do to start the show here, how the heck are you doing? Things are good over there? What's up? Good to see people in the chat. Good to see people on Twitter. How are you doing?

I'm good. I'm good. I can't believe we're talking about football here, which is interesting. I haven't watched it in decades. Yeah, yeah man all good it's weather is very nice and warm i lunchtime i cut the grass was fantastic nice and uh yeah how are things over there i did my grass on the weekend so that's good i was great today i did uh my normal sunday night to monday night fast i'm getting better and better at it though. This morning in the gym, it was legs for me today. So normally I would just do like squats, uh, some light, I say light, like 185 pound RDLs,

uh, some other stuff today I opted to get back on the like box jump train for no good reason. And let me tell you, this was a hard 24 hours of fasting having done that stuff this morning at like seven, eight o'clock. So yeah, I think, um, from now on the Monday that I'm fasting, I'll probably just do like heavy bench or something, something that's not so, uh, athletic let's call it. I don't know what else to call it, but it's not, um, it's not a compound lift, but otherwise I'm good, man. I cut my grass on the weekend. Like I said, did a lot of, uh, yard work on the weekend. It rained a lot here in Southern Ontario over the last month

or so. And so the growth in my backyard, unbelievable. I was going along the fence lines there, chopping, ripping, clipping, cutting all kinds of foliage. And yeah, it looks a lot better than it did earlier in the week. And then last night I drove out to Streetsville to see one of my best friends, his wife their three kids with uh my wife and another couple that we've been tight with for oh god i don't know at this point 35 years these guys are my childhood friends so always a good way to wrap up the weekend there and you're in a different world community very nice what did you do in between because there's you know just fighting the degenerates and uh homeless the vagabonds along the way just get out of the way it's all it's all

highway so there's not too many vagabonds but um yeah i mean my wife did point out on the way there uh on the way out i should say at uh that's probably eight o'clock maybe 8 30 that um it was a very uh homogenous set of people uh on the streets in streetsville compared compared to what you might expect. I'm not going to go any deeper than that, but yeah, I mean, it's happening everywhere. Anyways, so now that the advertisers are unhappy on YouTube, let's talk about our advertisers. EasyDNS, best place for you to host a domain, host your content, buy a website, port a website, do whatever you want. Maybe you want to ask Mark ways you can, I don't know, start an eBay account or something. He might be able to help you. If you buy a website and host

it there and pay a monthly fee, I'm sure he wouldn't mind answering that question. I don't know how good an answer you'd get, but we use these DNS to host our content. We hope you will too. Tons of stuff available over there. You can start email with your new account. You can use PGP and GPG email. Mark, very security focused. There's a fine line between practice and protection, I think. You know, pragmatism and protection. Mark tows it very well. And we've seen that through the show we do for Mark, Access of Easy, over on the Access of Easy feed. Easy DNS is always a step ahead when it comes to securing your data, your information, your website. And ultimately, it's your work, right? You want someone who's going to secure

your work and help you protect the things that you're putting on the internet. And Mark will do that for you. On top of that, virtual private server, suite of options there. Nodes, Nostra relays, BTC pay server, node lists, you name it, he's got it. There's much more than that, I'm sure. And of course, if you go there and you want to start something with Mark and start something with a buddy or start something solo, you need a website, you go there and you get half off your first round. CBP Media is the code and you can't beat that line. I don't think you can get 50% off anything basically anywhere anymore.

And here Mark is offering it to our listeners and viewers. And I know you guys have been using it. He tells us, keep going. See what else you can do. Buy a domain. Buy a few domains domains buy a domain for your children you know i'm having a kid in november uh god willing and i'm thinking about buying like all the domains and online handles for all the names we have picked out is that weird or is that like the expectation now i have no idea if it falls in one category or another the way things are going these days i can't even judge so do what you got to do joy but if you are going to do it you know who to talk

to and of course use the code because then you're going to get 50 off your purchase and mark you're due for an appearance on the show mark the studio here actually i was just rearranging some stuff before i started um tonight's program so we look forward to having you back. Maybe with Greg Foss. Mark and Greg are friends. I'm trying to facilitate that meeting. Greg lives, I think, like 15 minutes from me. Max. So, yeah, it'd be good to have him in. Anyway, we've got two sponsors.

Who's the other one? Yeah, we do. Can't discount or discredit. Gotta check the show email here. Make sure nothing happens between 7 and 7.06. Even if they do cut us loose for whatever reason, I'm still going to talk fondly of them because of the services that they offer. It's like, look, they offered a non-custodial model of buying Bitcoin.

This is something you should be looking at. Don't rely on those other ones that you're buying and they're holding. This way, Bull gives you the opportunity right away to take it off and put it on to cold storage but you can buy your bitcoin you can sell your bitcoin on chain lightning different options i have no idea what the fees are right now i haven't checked but if they're low still do on chain that's just my advice but again do your own research to see what works best for you but either way if fees do spike you could buy through lightning or sell through lightning so bull has

you covered so other things they do have over there is you could pay your bills because look the price of bitcoin it's you know it moves quite a bit and sometimes when donald trump says something it goes up sometimes when kamala harris says something it goes down so take advantage if it's up you could then start paying your bills with your bitcoin and bull bitcoin will have facilitate that for you so you bought bitcoin in the past it's gone up quite a bit. You want to start spending it? Well, you want to pay your hydro bill. You want to pay your car payment, mortgage, whatever.

You can do that with Bull Bitcoin and you can start spending your Bitcoin to do that. That's one good way to spend your Bitcoin. Another good way you could buy these gift cards. So if you want to start spending it in real world, there's not many merchants out there that accept Bitcoin directly. So the option you have is you have to buy gift cards

and who's going to be selling you these gift cards? Well, Bitcoin. And they'll be happy to sell you those gift cards and take your Bitcoin and give it to you. And so you could get these Home Depot gift cards or Starbucks, whatever. And then you can go use that in the real world. So indirectly, you're spending your Bitcoin,

but you're doing this through Bill Bitcoin. You're facilitating the purchase with them. So I love it. A lot of different options on there. Check it out. And if you open an account with our promo code below, $21 will be added to your account after you fund it and you're good to go. So check it out.

Any questions? They got a great team. They'll help you out. They'll guide you through the process, especially if you're new. They got the team to help you out. So wonderful stuff. Check it out did you see um friend of the show mark molder uh was on a video that pablo posted on twitter from the nashville conference uh talking about the bull bitcoin you know if you came up with three words to uh describe bull

bitcoin what would you say and mark said uh like great customer service or best customer service i mean that's spot on um. And Francis noted in a tweet, I just retweeted it actually not long ago, that Bull in the grand scheme is not that big in exchange. But like many Canadian companies, these guys are not only punching above their weight, but they take pride, I think, in making sure that you have

not only the best experience with the platform, but the best experience with the people. And that's a rare sort of cocktail these days, whether it's in Bitcoin or anywhere else in the sort of retail available services world. So happy to have them as a partner and a sponsor. Do you want to go to boosts? Shall we do boosts?

And then we'll talk about what's coming on CBP. Yeah, we might as well do boosts because God, you know what? There's four of them in particular because one guy boosted twice. So I just basically amalgamated it into one. So Doom to Mazem, 521 sats. He's back at it. He says, thank you for your time. Do anything more scarce than Bitcoin.

You're welcome. I like the fact he does that. Thank you. Wartime, 1,333 sats. He says, I know it's short notice, but there is an annual Lake Satoshi Bitcoin retreat on August 9th to 11th in Michigan, USA. Specifically, I'm not sure.

It says lots of plebs, camping and beach activities, barbecue and overall great time. $21 gets you in for the whole weekend not a bad price would be awesome if you guys could come for more details see lake satoshi.com so i'm not going to be my weekends are actually my summer is all filled up so i appreciate it but i'd be happy to plug it that's people check it out lake satoshi.com 21 gets you in where it's located i'm not exactly sure does it say uh yeah i'll tell you right now traverse city or something like let's it looks nice i mean if this overhead shot is where it is that's pretty good um

it doesn't say oh here it is langsburg langsburg i don't know listen i'm not much of a tent guy famously in my friend group uh this is a bit embarrassing but i'll share it anyway famously in my friend group i was invited to uh camp really for the first time ever that i ever camped that was probably like 23 maybe something like that uh in algonquin park and algonquin for the you know sort of uninitiated is i don't know if it's difficult camping but it's not camping you could do with like you know your little kids or whatever it's usually a couple hours of canoeing out to a site that the province assigns you the province that the park assigns you based on a rotating uh roster of available spots due to like you know animal my

animal movement and stuff like that and they don't want the sites to become uh run down i went uh my buddy and our other friend uh went the night before me and my uh one friend's girlfriend now his wife actually the couple we went to see yesterday so his uh girlfriend and i went up a day later canoed up there alone i had never even been in a canoe okay and uh we got to this campsite and i didn't have a tent a pillow uh what else i didn't have a sleeping bag but i did have a backpack with two pairs of sunglasses that's the kind of camper i am okay you had a car though my car was you know oh somebody had you could always 40 40 kilometers away we had to park yeah so it was a while uh i don't know it was 40 kilometers how long is like it was like a four-hour canoe ride probably to the site from the from the marina or the dock the

launch how far is that is that like i have no idea i have kayaks but i have no idea how i should go in a canoe couldn't tell you so anyway, I'm not the guy you want camping, and I never want to be in a tent again, honestly, unless for some reason my kid or kids have this desire to do it. Then maybe I'll suck it up. But otherwise, no. I refuse. Clamping only.

I need outlets, Len, and I need to be able to get a Coors Light in the middle of the day at 10 a.m. without having to worry about carrying back the cans. So anyway, there you go. We got SirSnacksAlok, 2100 sats. Sats for Joey because he knows he's always right and tired of pretending he's not. Oh, yeah.

Almost the most humble man in podcasting. Really, I always tune in for the opinions of CPP. Very base Canadians. Bless you. It doesn't feel like that though len like i know he's sort of probably not he's half joking actually i said at a i was at a pool party uh last weekend it's this is joey story hour i was at a pool party last weekend and i said to another friend of mine's girlfriend we were talking politics after a couple of drinks and i was like

you know i'm just so tired of pretending i'm wrong when I know I'm right. And she looks at me and she goes, when do you ever pretend you're wrong? It's like, you know, that's not a bad point at work, I guess. Is that the only place? Yeah, it is. I mean, I'm of the opinion that all roads lead to land and I'm, I don't even bother anymore. I just let people figure it out. And if they don't, so be it. Mike DeGroote, 3,000 sats. Great episode. Really enjoyed this one. This is the one you did last with Michael Geist. Geist, yeah.

He's great. Yeah, Mike was great. I appreciate that, Mr. DeGroote. Mr. DeGroote, on a separate note, fantasy football starting up again. CBP, if you want a slot, put your name in. I'm going to try and get new. I'm going to try and rotate out. This is a PSA for everybody.

If you want to play in the CBB Fantasy League, I think we did 50,000 sats last year to enter. And it was top three got a prize. So it was 12 teams, half PPR, drafted sometime at the end of August, early September. We'll find a date that works for everybody. We use a sleeper app. It's a lot of fun.

I got a spot, obviously, because I'm in charge. Alex from Bull Bitcoin gets a spot because he works for the sponsor. And he's in a league of his own trying to talk football with the Bull Bitcoin guys, which let me tell you from experience does not go that well most of the time. And also a guy named The Fish Bomb gets a spot because he won the league last year so three spots down nine to go i have a short list filling up including uh young caradza and a few others uh who have been on the show over the course of the last year who want to play so who knows if we if like for some reason we can't fill 12 spots i mean last year we had like 20 to 25

people who wanted to play and i had to just pick the first, you know, nine or 10, uh, this year I'll do like a wheel spin or something. And I want to stream the draft. The draft is like the most fun thing about fantasy football. So I want to stream the draft. So if you want to play, send me a DM and, uh, I'll put you on the list and we can figure it out. And that is it. Housekeeping last week, Michael Geist, excellent interview. Dr. Geist is the four, in my opinion, foremost expert on digital, uh, and copyright law in the country. Maybe one of the top two or three guys, anyone in the world and the developed world should be listening to in terms of precedent concerns, successes, and failures of these types of laws. And we got into a few of the big ones

over the last little while. We didn't get into the Online Harms Act, which I know many of you will want to hear about. Dr. Geis and I were talking a bit after the show and he said, when we're ready to have that conversation, he'd love to come back. I think there'll be some more developments over the next five, six months anyways. So we're looking forward to having him back. If you haven't listened to that yet, I cannot recommend it enough. I said to him after the show then that most of the time you and me have C-suite people from Bitcoin companies or exchanges or people who are like sort of top of their class in Bitcoin or adjacent silos, energy and power and mining and all these things. And I don't really mind going toe-to-toe

or doing a tango with those guys. And I don't have to do that much show prep. I have some stuff I want to talk about. I have an idea of what the opinion I will hear back is. And I know how I want to volley the ball back and forth. I had three pages of notes for Dr. Geist. And I told him after the show, I still felt like I was on my heels a bunch

because the guy is just so sharp and so well-read in these subjects that people who support the bills want to talk to him. People who don't support the bills want to talk to him. People who are experts in the field want to talk to him. And people who know nothing about the field want to talk to him. That is so rare these days, especially with all the political repercussions of these sorts of bills. So I really recommend listening to that. We have a guest on Wednesday. I saw you book somebody. Who did you book? UTXO.

Hey, nice. Great. So you remember he got into some hot water. Yes, no less. He was. Yes, he was advised by his legal team to cut bait with that because it was maybe a money exchange business and potentially this i'm not i'm not saying these are my words or i mean there may be

somebody could say there could be money laundering involved in there so that's why he was kind of pushed out of that what he's back in the game he's uh started a new company and he's going by the book he's uh getting this all kyc and everything so like every it's going to be uh very similar to the last one it's going to be enabling sending and receiving bitcoin over the lightning network and he's trying to get exchanges that are going to be using this there's for liquidity providers and mostly just wrappers essentially what he's trying to provide for them so it's going to be easy for them to use lightning so i like this the fact that he's still continuing what he was doing before but now he's done it now above board and that he's going to probably not not that it wasn't above

board before right yeah right i mean this way he's satisfying the people's expectations of what they want him to do and he's doing it this way so as soon as i saw it i was like man let's get him on because he went through some tough times not too long ago. And yeah, I'm looking forward to talking to him about what's going on with him and this new company that he started. It's called Bitvora, B-I-T-V-O-R-A dot com. If you want to check out more. Great. Yeah, I'm excited for that.

He was a great interview last time you had him on. I don't listen to every interview, but he's a guy who really understands, I think, what Bitcoin is about. And tries to, especially now, as you mentioned there, he's trying to satisfy a lot of the demands of Bitcoin apps, I guess I would call this. Bitcoin companies. So I'm happy to do that and give him a platform. So I'm looking forward to that uh and give them a platform so i'm looking forward to that episode from you guys next week is august 6th kevin muir will be on the macro tourist i've been a big fan of kevin's for a long time market huddle is one of my favorite shows uh him and patrick srezna you know what they call bitcoin when they talk about it on market huddle

the asset that shall not be named but why would they call it that it's their list their listeners i don't think their listeners want to hear them talk about it but as as we know len as len as we know len as we know you know it's now it's being it's being spoken about so kevin has uh he's let me know that uh he is a coin skeptic but uh i i said you, I'm happy to get into that with you. We do have people on the show who are not Bitcoiners per se. But I think if you listen to Kev and read his stuff, and if you're familiar with his

work at all, he's been on Mike Campbell's Money Talks too. He has a lot of the same concerns we do about the Canadian economy, about the currency, about devaluation and debasement and thinks that hard assets are something that people need to be looking at and holding their portfolio. So I'm excited to have that conversation. I tried to get him to come to my house cause he's from Toronto, but not, not so easy, I guess. No, I didn't. We should, I should put together like a package for people. I can't be that hard. If I like got the brewery to give me a six-pack every time someone came over, and I just give it to them, and then CBP will give you whatever,

$200 for the Uber if it's from Toronto. I don't know how much it costs to Uber from Toronto, but I'll pay your way. I don't know. We got to think about it. Hold it, Quinn. You need to pay us more money. That's sweet. Yeah, there's less competition, right?

We have CFTC decided to pack it in. They're done. McCormick's packing it in next week. this is sweet god this is yeah there's less competition right like we have uh yeah tftc decided to pack it in they're done yeah mccormick's packing it in next week yeah what ledger's done is now finished so there's you know there's anyways did you listen to the last episode of uh tftc or no i have i haven't yet it was live i don't usually listen to live ones but i will listen to that one and uh I look forward to it. Did you listen to it? I tend not to listen to it. Are they actually done done?

Are they just changing the name and changing the direction? I know Marty's been going, you know, I think really tinfoil hat the last year and a half or so. He's doing Citadel Dispatch, right? Not Marty. Matt doing Citadel Dispatch. Yeah. So he's been doing that a lot. So I don't know what.

I mean. I don't know. Who the i don't know who the heck knows i guess we'll find out but uh you and me are still making content anyway so that's 21 minutes i'll write that down so that i don't blow into the shorts it's gonna be a six hour show joey i'm not sure if you just yeah let me strap in a nap too but before the show so i'm ready to to go very late if people wanted to hear us go later let us know and i'll twist joey's arm i'm leaving here at 8 40 sharp no one's keeping me well we didn't mention which time zone so that's specific oh true true yeah yeah fair this conference thing did you happen to catch any of this thing because there was some you want to start there is that we're starting i think that's

the the biggest news this week but it's not really the conference itself but who is there and what people are talking about where yeah it's on the agenda it was what's biggest this week but you know donald trump was the main guest and i'm still waiting for that special guest to show up on the stage special guest what the fuck was that about there is no special guest how number one you have donald trump now say what you want if you like him or dislike him but when he's there he's the headliner right he he's not going to want to be trumped by somebody else he wants to be the man and i can understand that the guy was former president could be future president yeah who was it they were delaying and they were talking about the special guest and And Odell was saying, I,

if you, once you hear the name, you're going to, they're full of shit. They're full of shit. I don't think there ever was a special guest, honestly. That's whatever.

I just want to, I want to shout out Pete Rizzo, who was on the desk for the two hours before Trump came on, which turned into three hours, just moments away from a historic Donald Trump speed. He kept on saying, he must've said that 50 times in that three hours. And I think by the end, if you go back and watch the stream, I mean, I'm assuming you guys are watching the stream.

I had it on. I was just like having a beer on my living room table waiting for this guy to come on. If you look, Matt O'Dell is sitting beside Pete and he is trying so hard not to laugh every time Pete hits him with just a few more minutes from a historic Donald J. Trump, the 45th presumptive 47th president. I was laughing so hard, man. I don't know, Len. What did you think about the conference?

I mean, you have a, I don't want to say an ax to grind. That's not fair. But you have a different opinion of the hosts than I do. So what did you think about uh the conference overall content overall impact all that stuff where do you where do you come down on it you're asking the wrong guy i didn't watch any of it except for the donald trump speech and even that i'm sorry to say once he did his like 10 minute name drop i kind of quit like a few minutes into it i just gave up because i've seen so many trump speeches it's like oh this is another one so i just gave up and it's not like he's gonna be

spitting fire like i was expecting in a different type of rally and that would catch my attention so i can't say anything i can't give you an opinion about it maybe you can give an opinion about the conference but unfortunately for whatever reason i'm not i can't give it i can only give you like what i read after the fact of what people so i i didn't watch all of it so i'll start with that who could watch all of that let's i know i know i have i have a job and chores and other things like i care about life ncaa football whatnot um hurt us good good game by the way fantastic gameplay very fluid we'll talk more about that maybe after uh i think like i like bailey anyways i don't agree with everything he's done obviously like the nft stuff and the token stuff like do i think it's a great idea no do i think it's better than other ideas yeah more more you know appropriate for bitcoin and other ideas yeah but i have to say len that i think at this

point you know and i'm gonna i i kind of want to call out pletitor a little bit even though he's you know friendly with us and sometimes you know he's in the chat and i think he's been in the chat a few times and he's on twitter all the time he has i mean i was looking at just twitter during the trump delay and you know a lot of people calling out Bitcoin magazine for the delay, calling out Bitcoin magazine for the stream crashing when Trump came on on YouTube and Pleditor was among them. And, you know, I don't know anything about Pleditor, honestly. I don't know anything about a lot of the NIM accounts who attack like Bailey, Bitcoin Magazine, Mark Goodwin, Rizzo, and these guys who work for BTC Mag. But at this point, I think it looks bad. And I think that there's a pretty solid case to be made at this stage that Bitcoin Magazine has proven itself to be a pro-Bitcoin outfit in a lot of ways. As I mentioned, and we agree on this, they do some things that are maybe not totally

unpalatable, but somewhat unpalatable, I think. But at this stage, that conference land, there's maybe not been a bigger, more impactful two days in terms of Bitcoin policy promise and pros, hence the title of the show tonight, than the 2024 Nashville conference. You had Senator Lummis talking about the strategic reserve. You had RFK talking about the importance of making sure that America holds some Bitcoin. And then whether you think Trump gets it or doesn't get it, the fact of the matter is a guy who is at this point, the likely 47th president, although not by as much as it was a few weeks ago, has no choice but to speak about Bitcoin because his party had no choice but to put it in their platform. And whether he understands the implications of a strategic reserve, whether he understands

that he's going to buy Bitcoin at a clip that's more than what they produce per day in RFK's case, I don't think that really matters like i don't think the details matter that much i think like we always talk about on the show directionally there's no argument about whether or not the last few days has been really good for bitcoin or not now the price may not reflect it but hey what do you know we know a little bit about that it's just gone up a little bit in the past week it's like it's like subs it's like sub 67 now i'm pretty sure yeah but we could go where were we were we around here like like don't look at yeah yeah i know yeah we're looking at direction directionally yeah of course and so i i think that the the conference

really for the first time len was a a global event with everyone's eyes on it. And maybe the most important thing, whether they wanted to watch or not, they didn't have a choice. I heard guys talking about on big macro podcasts, Trump speaking at the Bitcoin event this weekend. I heard political podcasts, Trump speaking at the Bitcoin event this weekend. I heard on Bankless, Trump speaking at the Bitcoin event this weekend. Everybody has to listen and watch what he says. Now, again, do I think that Trump understands what it means to have a strategic reserve? Do I think he understands the nature of Ross Ulbrich's crime? So I think he understands the nature of comments like Bitcoin is the new steel industry. I don't think he does. But I also don't think it matters.

I don't think any president understands what the fringe topics they're forced to talk about because the politics of the day demand that they have an opinion on it. Much the same way that I don't think Trump understands the intricacies of an abortion, but he has to talk about it. Much like I don't think he understands the intricacies of firearms augmentation, but he has to have an opinion on it. And so when you have to go a mile wide, an inch deep, there's going to be concessions made by the guy speaking, but there is no debate that this was a big weekend for Bitcoin. And Pablo's in the chat saying the same thing. Bringing in for the guy who just almost was assassinated to come to the Bitcoin event.

That's huge, man. That is enormous stuff. And then when you talk about, Bailey saying on Twitter that they were talking to Kamala, Kamala, Kamala, whatever, Harris, about coming to the conference too. She was thinking about doing it. I mean, I think that would have been unwise for her. I can just imagine that she would have booed out of the building. But the point is that we have arrived on the global stage

and the mainstream political stage like nobody in Bitcoin thought we would this early. And to me, that's huge. And so, although I may not agree with everything they do, it's like a hats off to David Bailey, a hats off to Bitcoin Magazine, a hats off to the conference. And I'm thinking, Len, that I'm going to go to Vegas next year for the conference. I'm going to try and get a press pass. Our friends SB and Scribe are also going to go, I think. And I'm on this air today, the Lord's year 2024, July 29th. I'm inviting you to come to the Vegas Bitcoin conference in 2025.

I'm inviting you to come to the conference. You can just, I don't care what you do while you're there just come you're inviting me or a general you you too you know because i ain't doing it but you can just hold a sign by the desk and say like no matter man i think just even to spend a nanosecond doing it look i mean we can say what they what they brought in trump and that was a good thing they brought it in rfk to talk about bitcoin again and i guess that's a good thing but the difference between his speech last year and this year enormous i can't i was critical of the one last year and i can't be critical of the one this year because i didn't hear he's i can say whatever the fuck he wants doesn't really matter so he's got no hope in hell of becoming the president of

the united states so he gets just throwing shit on the wall hoping it sticks but the people that run this thing i mean let's be honest they're opportunists right like they're willing to sacrifice something in order to gain and sacrifice something big in order to gain more money and that's fine everybody's you know don't hate the player hate the game type thing but this this is it's a reality that's what they are and it's like so many other people we've seen it time and time again with politicians too right that people they stand by something and then switch because you know they their goal is you know pull the f for instance i'm really going out to the weeds here you know remember pull the f was saying it talks about bitcoin lighting up a hookah with ali in his house talking about bitcoin i'm pretty sure yeah and then shortly thereafter

didn't talk about bitcoin again what's his goal become prime minister so he's sacrificing his belief his ideas his love for bitcoin in order to become prime minister now if he's willing to sacrifice that to become prime minister what is he willing to sacrifice to remain prime minister? Same thing with close to the Bitcoin magazine people. They sold shit, garbage, like essentially trash to people, newcomers trying to make gain. For what? Just to make more money for themselves. And at the expense of what? You're spamming the network.

You're making more difficult for people, more expensive for people to transact on it. Promoting BRC20 tokens, promoting fucking putting pictures on there people getting wrecked in the process you know what like they're they're opportunists and it's fine they put on a very good conference they brought in a lot of good people they talked about bitcoin but you know you scratch the surface you can see what's there what's there all about and as long as they could pad their pocketbook they'll do it fucking again at the expense of what? Bitcoin as a whole.

That's fine. And it's not like they're new to the game. I just found Bitcoin. They know what Bitcoin's all about. Right? Like, let's be honest. They're like, they've been in this a long time. To say that, oh, they're selling these pictures for one big where the fuck they sell it as

it's not a scam and they just they just overlooked it they fucking know what they're doing they fucking totally understand it this is do you think do you think the conference was a net benefit or not for bitcoin that's a totally different topic but isn't that the only isn't that the only question isn't the only question at this point no no there's there's a lot to it there's motives behind it. Who's running it. What's going to happen moving forward. So,

right. You're looking at a very narrow viewpoint, but there's going to be a series of events that transpire as a result of it. Some are going to be within people's control. Some are without or outside people's control. And what happens we'll see, but I see historically the people that were behind it what they've done their actions will probably be repeated again and at the expense of whom

everybody that's in big forcing you to buy the fucking tickets and the shit like i don't know like if i go next year are you not gonna i'm not gonna be like yo sign me up for a fucking nft or whatever they're called what are they called again uh ordinals sign me up for an ordinal yeah like i'm not gonna do that so like that's they could do what they want and that's fine and that's why i choose not to spend my time which is the most precious asset and any of our company's money that's for me to go there fuck that if you want to go that you want to go, that's your choice. That's your choice. That's your prerogative. But for me, my time,

that's why I didn't watch anything. What am I going to learn from this? Not that I'm better than all this. There was a lot of good discussions. Jack Mahler, remember in the past he was yo-ing his way through when he was the chief speaker. This year he did a presentation about having Strike and BTC Pc pay server there's now

api that's built in that was an integration yeah pretty cool like that that's a good thing that he brought up um so like there wasn't all like there was things that you looked at this conference that was actually pretty good right and even trump coming on talking about bitcoin that's fucking massive to have a former president and likely future president talking about bitcoin that's fucking massive to have a former president and likely future president talking about bitcoin strategic reserve i i don't care if you think it's a good bad idea but the fact that you're talking about the most powerful nation in the history of people kind of the reserve currency nation talking about holding an, uh, a unbiased uncontrollable money in their reserve instead of their own.

That's, it cannot be discounted. It cannot be discounted. And all caps in the chat saying the ends justify the means I'm not, when people say the ends justify the means it makes it sound like, you know, that's often like a, it's like an extreme example of something. Bitcoin magazine is not forcing anyone to do anything. And so people want to go there and buy the fucking t-shirts and the ordinals. Like, I don't care.

It doesn't matter to me. What matters to me is if they're going to do that stuff, is it better than like, like, is it the lowest rung on the ladder? No. Okay. That's a low bar. Fine. I'll accept that criticism. I can't, you know, I can't argue with you about that. But at the end of the day, like, think about what the conference has done for Bitcoin over just the last three years, four years, maybe three years. Three years ago, you had the president of a relatively unknown Central American, South American, whatever else Salvador is, country, come on and talk about buying Bitcoin and using it as a treasury asset. That was huge. Three years later, you have the former president of the United States and the

front runner to be the 47th president talking about using it as strategic reserve in the US. Directionally, that's huge. There'll be some people who say this would have happened without any of the conference stuff. Maybe, maybe. I can't say yes, I can't say no. It's impossible to prove or disprove that. But the idea that the conference hasn't helped drive that outcome is wrong. I don't think that's even debatable. Having all these guys in the same room, bringing on someone like RFK last year, for sure the Trump team is looking at last year's roster. They see RFK was there.

They see the positive press he got and they go, we should think about doing this. And the reason you know that that was the case is because even if Bitcoin Magazine got a text message from a Kamala Harris surrogate about her coming, like that's big. And Bitcoin is apolitical. I agree. Bitcoin doesn't need politics to be successful. I agree. I've said many times on this show that I think engaging with politicians by and large is a waste. But you're fighting a

battle for hearts and minds in a lot of ways in a country like the States or Canada or the European nations where people don't necessarily see the erosion of their purchasing power as acutely as other places where Bitcoin has already started to grab hold. And so you sort of not need, but can allow these cult figures to contribute to a goal that you have in mind anyways. And so I would say, why not? Let's do it. And if there's some distasteful things in the opinion of some along the way, I'm sure

that you and I have said some distasteful things on this show too that people don't agree with. But I think by and large, what do we aim for? Try and be net positive. Try and share things we think make sense. Try and steer people away from stuff we don't think makes sense and by the way for people listening watching len and i don't agree on the nft thing of course we don't or we agree on the order we don't we agree we agree on it we agree on yeah that's what i meant to say like it's not it's not a great way to to you know promote the conference there's there's better ways i think they could have done it but i don't think

they're using that to promote the conference i think that was a separate whatever i mean at some at some level there's you know these venn diagrams have some overlap and and like i would just say that you know you and me agree on a lot of the negatives and i think we agree on a lot of the positives my beef really isn't even with people in your camp, let's say. My beef is really more with the pletators who go out of their way to slam David Bailey in the magazine when the stream dies on YouTube, as if somehow that's a Bitcoin magazine problem. To slam them for... There was an issue with the audio or something like that. I forget exactly

what it was. But if you go through Plattner's feed, and it's not just him, he's just the one I saw on Saturday on Twitter. There's probably hundreds, if not thousands more just making the same comments. At some point, you have to realize that not everyone is going to agree with everything that you think is right, true, and pure. But at the end of the day, you have so much more in common than you don't with these people. The end game, the end mission, the goal of Bitcoin being this monetary asset, sound money for the world to prevent debasement pain and stuff like that. Everyone agrees on this. And so why unsheathe the dagger during the biggest moments for Bitcoin, certainly of that weekend and arguably in the last five years? Why choose that time? It doesn't make sense to me. I think that's the thing that I

didn't like the most about the feedback i saw but it sounds like broadly then you and me agree like that's a big that conference was a big deal agreed but that was a big deal the the negative that people and i don't want to pick on pletitor here but the negative that he she because i don't know if it's a she too is doing um it's because there's a reason behind it because let's be honest the pletitor has a beef with the people that are scamming, right? Like it's bringing up these beer. And I can't wait to be talking about this now,

but the BRC 20 tokens and these articles, did they even sell? Did they even sell ordinals this year? I don't know if they sold it, but it's the lead up to it. The fact that they were involved in it, they put a website, they're promoting it.

UTXO management is evolved. This is all fucking part of the whole thing and because of that you have now the people that are involved with the bitcoin magazine sorry the bitcoin conference we're gonna have to just unfortunately throw them in the same thing so when something goes bad you can say look these guys that were you can say they were fucking scamming people right like there's nothing that a brc20 token or an ordinal does to advance bitcoin to make bitcoin better to to improve somebody's life financially or any otherwise it's just simply trying to on or trying to take money away from new participants to say look at this this is

something that's going to make you money and you know it's rare it's one of a kind you buy this because of this the rarity is going to probably go up in price and just sell it and make money but you're you're taking money from these people like i i don't want to police everybody but like i'm going to call out somebody that's a scammer right like you can't do it there's no laws against it but there's nothing for stopping me to say you're fucking wrong and they are fucking wrong but that's why plethora is saying that because he he's fucking pissed off and so am i with the people that just continually scam and try to take money fucking opportunists you know like there's one thing about making money

it's another thing about just fucking trying to rape somebody because they're new in the fucking system to just take them for everything they got and just leave them to the side of the road and say, fuck you, you made your purchase. Sorry, next time come around, we've got something else to sell you. Like, that's fucking bullshit, man. And at the same time, you're spamming the network, making it more challenging and difficult for somebody like you or me to send a transaction,

more costly. There's no net gain from this. That's the people that are involved with this. But I don't want to talk about this too much. No, I think, I mean, we agree. There's something that I do want to talk about is the speech. And fuck, the fact that he's talking about Gensler and firing him and then the reaction,

I don't understand what's the issue with Gensler. Like, forgive me, you know know Gensler is the guy that is the the chief the head whatever of that walled garden over there right yeah and you know they could do what they want that's fine we may disagree with everything or a lot of things they do but come on man like fire him I don't think he's been a terribly bad actor with respect to what's going on I mean granted the ETF approvals were very delayed I would say he's been pretty terribly bad actor with respect to what's going on. I mean, granted, the ETF approvals were very delayed. I would say he's been pretty bad. I would say he's been pretty bad.

How do you think he's gone after Ripple? Yeah. He's gone after shit coins? I think you want to talk about opportunists and dishonest actors like this guy's one. Don't forget, okay, he masquerades behind the sword and shield of consumer protection for every single thing related to Bitcoin, even ETH. You can love ETH or hate ETH or whatever. You and me, obviously, the show is not called Canadian Crypto Podcast. It's called Canadian Bitcoiners Podcast. So you know how we feel about it. But

a lot of people don't feel that way. And arguably, Ethereum is better than God knows how many stupid securities this idiot let trade over the course of his tenure as leader of the SEC. And he's talking about how we got to protect people from FTX and from blah, blah, blah, blah, blah. This is anything about Coinbase. This is anything about... Remember, they went through their S1 filing and he never stopped them from going public,

even though they're allegedly trading unregistered securities. He's still in a suit with them over that issue, while the ETFs that he approved are using Coinbase for custody. This guy's a clown. He's a clown. I think he should be fired. Clearly, I think posturing for political office maybe is the most generous interpretation of what this moron's done. But I don't know. Listen, I want to say a a couple things about the chat here uh i am with you mad

man monroe that bitcoin and crypto will always be tribal as fuck i believe that to be the case it's never going to change bitcoin all caps disagrees with what i said earlier but i love you anyways buddy and uh pablo from bull met enough scammers traders and shit coiners to last a thousand lifetimes at the conference. That I believe. And I also even felt like at the Canadian Bitcoin Conference. He didn't mention the conference. I think he's just talking in general. Or do you think he's

talking specifically about the conference? I think he's talking about the conference. Yeah. Okay. And that's no reflection of the conference itself. People will sign up to anything and I'm not going to hold them. remember we went to uh i remember thinking i was thinking about this the other day when i was kind of just reflecting on the stuff that we've done in big groups because i knew we were going to talk about

this tonight and remember safari we went to and i like brought the cameras and the mic and we did a live show yeah that was like a bitcoin meetup like foss was there they announced a bitcoin conference there was at least two guys there. One with like what could have been a fake ass mustache talking to us about how he made a bunch of money selling NFTs. And he was just like begging for engagement. He's just like begging for someone to like talk to him about it. And I just remember thinking like this is so cringe. It's like any group you get into now, Bitcoin or otherwise, you're always going to have people who are like,

you know, what's the meme? I love Bitcoin. What about this shit coin? Right. And so I'm grateful that Bitcoin magazine has, at least in my opinion, knock on down that road to the point where it's like a concern for me,

but you know, whatever we all in all, then I think we're both happy that this has been, this has become a huge political issue at this point. Um, candidates on both sides of the aisle are forced to talk about it and take a stance on it. The Democrats released a letter shortly before the conference talking about how they have to come off this anti-crypto stance ASAP because a lot of people are single single issue voters when it comes to this stuff and uh all three candidates now basically have um you know been forced to share their thoughts on bitcoin you love to see it do you not you love to see it you're not nearly bullish enough anon okay if no no no like not you not you the

average person who's like oh price is too low for that like you got even i'm not bullish enough and i can tell you like look it to say that they're going to buy, I forget the amount of Bitcoin that Lummis was saying that they want to purchase. 25% of the total? $4 million. $4 million, okay. Whatever number it is, but $4 million is fucking a lot.

Holy shit. How do they buy this? Let's just play this out, right? Like, never mind that you might have a short... Did you want to talk about any other Bitcoin stories? Because we're coming up on an hour here. I do. There's tons I want to talk about.

This one is very important, though. Okay. Because to do that, right now, they do not have enough incoming revenue to meet all their obligations. Yes. There's a deficit every year and it has been for the past 20 ish years or so so in order to do this they will have to

borrow slash print whatever you want to term you want to use to to accomplish the buying of the bitcoin that alone is an admission that the u.s dollar is failing because you are trading, they're going to be trading an asset that they are predicting that is going to be worth less in the future compared to the asset that they're purchasing? If the people managing and administering the money don't have faith in that maintaining value, nobody should. And that's why I don't think we are, any of us are as bullish as we should be he's just if you take that and just extract that information and process it you realize holy fuck the u.s dollar is going to absolutely tank the people that are running it believe so we have i have zero faith in it you should have zero faith in it and everybody listening and watching should have zero faith in it agreed they're buying bitcoin with it or at least they're talking about buying bitcoin i mean even if they even if they are not buying bitcoin

you can see with the level of debt they take on they think that they can just inflate the currency inflate the currency away so that that doesn't matter like this is clearly the playbook whether they buy bitcoin or not at this stage and so so it only makes sense. Worth revisiting, Pierre Rochard wrote an article, I don't know, 10 years ago, I think I saw, 10 or 15 years ago. No, it couldn't be 15, but 10 years ago about how the US government should be using the dollar to buy Bitcoin, the speculative attack, the speculative currency attack. And it rings true today, man. That's really what this is if they use the dollar to buy bitcoin it is a speculative currency attack which is insane for a government to carry out but yes there's there's other people talking about like the the um the strategic worthiness of devaluing

the dollar going forward right make life easier for uh for americans i i don't know you know i haven't looked into that enough but um there's a lot of moving parts here man and you know the the crazy thing in my opinion too we are i think three weeks removed from an assassination attempt on a presidential candidate and the the speed at which the campaign is moving both in terms of issues and in terms of uh sort of the sort of general broad strokes politics of both parties. It's accelerating.

And it's crazy how fast this is moving. You know, it truly is just that, you know, what's the quote? May you live in interesting times. I think we're benefiting from that big time over the last eight or nine years. And Bitcoin has been a big part of it and it's becoming a bigger part. So I'm excited, man. It's hype. And I love how, I don't know what your experience with this has been, but I'm going into the

office tomorrow. I didn't go today. I'm going tomorrow. I expect to get questions from people about the Trump Bitcoin conference speech. I don't know. That sounds interesting that you're're gonna have a normie pre-coiner maybe i think they will about it i think people will be asking because they know if people at work people at work only know like three things about me one i'm more muscular and more handsome than they are two i like bitcoin and three i like trump so like you know i think that that's there's a real possibility

that I get those questions tomorrow and I'm looking forward to answering them more interest is good interest right unless it's on the national debt but otherwise yeah I think it's great what else you want to hit lots of I'm just going to rapid fire PTI style

yeah fold when public whatever we'll skip that keep spinning the wheel if you have the fold app don't uninstall it if you're in canada because i'm pretty sure you can't get it back so anyone wants us to talk about these let us know we'll just come back to a bidax it looks like there was a lucky bidax user huge that's huge but we'll move on this is one that we i don't think we should skip because you've been critical of a company that done something similar marathon said that they're going to buy a hundred million dollars worth of bitcoin yeah and in the past we had bit farms by bitcoin at around a forty thousand dollar range and i think we've been both critical about that the move but either way this marathon decision is

going to net them around 1500 bitcoin give or take. They also plan to not sell any of the Bitcoin that they mine in the foreseeable future. Things could change, of course, but at least there's... My criticism, I won't speak for you, but I think you're the same. My criticism is not buying the Bitcoin. If I had 100 million sitting around, I'd be buying Bitcoin too. My criticism is that they are always forced sellers at a lower price because of the way that that industry works, because they need OPEX money when shit is going poorly. And so what do you do? You have to sell or use your cash position to float your business. Joey, where did they come up with $100 million?

I don't know. There's no Bitcoin company, Bitcoin mining company that has $100 million. Are they selling ordinals? I don't know what they're doing. So the question I have is, and I couldn't find the answer to it, is how are they raising this money? What sort of debt is the debt tied to the interest rate as a floating debt? I don't know. A lot of questions I would love to have answers to.

But really, this is just essentially just doing the micro strategy right you're just buying up bitcoin so for that i can't say that's terrible so it's so in q1 uh ending i mean this is the may uh report from mara the company's net income was only 340 million so presumably like that's you know i mean how do they get the 100 million dollars 100 million 100 million if they if they well they didn't dilute um that then it doesn't work like it i think they just use some of their cash position they also have 20 000 Bitcoin on the balance sheet. That's a lot of Bitcoin. Yeah.

So that could be partially or wholly how they're getting this. Either way, somebody's left them the money. They're not even buying. Yeah, maybe. So that's... I don't think it's really true they're being lent money. If they're making 400 million a quarter net, then they don't need a loan for 100 million.

That's not that much. There's not many... I was pre-having though i should mention right because q1 yeah it would have been march so so who the hell knows anyways similar scientific i'm not sure if you saw that one they're going to raise 150 million dollars through dilution and uh they're going to go the micro strategy route of buying more bitcoin so it's another one that's doing that why not similar guy on stage with uh sailor at the conference yeah yeah so that's it's partially why i guess this was all came out this week um yeah so new bitcoin buyers aside from sembler and micro and uh marathon we have uh jersey city could be buying it um their mayor was saying that their pension fund is going

to start allocating a small bit to buying bitcoin the percentage is unknown but that's interesting but not just them we also had another one the state of michigan purchased 110 000 shares of arc 21 shares that's worth nearly 6.6 million dollars so you have the state of michigan and then also jersey city look there's going to be more of these moving forward and i i don't want to talk about the method in which you're using i wish they bought spot and held it rather than using uh an etf but either way there's going to be more of this type of news coming out and there's so many pension plans out there there's so many state like think of all the states out there that might have some money that they want

to spend so buy your bitcoin now before it's just all gone and it's just going to go parabolic we'll we'll yeah you know you're 100 right we'll talk a bit about pensions and whatnot in the in the uh notable side i was gonna say the canada side but the notable side uh a couple things on this i think i tweeted this or maybe i just wrote it and decided not to but uh the thing to keep in mind here isn't necessarily that more pensions will want to do this or that there's like a first mover advantage or any of this stuff. These are important things, but they're not like the most important thing in my opinion. What you have here now is a benchmark. And so these pensions

who buy 6 million or 5 million or 10 million or whatever, drop in the bucket. Municipal pensions, state pensions, they're huge players. Famously, I've said this on the show whatever, drop in the bucket. Municipal pensions, state pensions, they're huge players. Famously, I've said this on the show before, that in the show Billions, which is on HBO or Showtime, major show, Paul Giamatti's in it, Damian Lewis is in it, huge names. The girl from that motorcycle show where they're always slapping each other's leather jackets, I forget, it was years ago. Anyway, these guys are all in it. There's an entire two episodes or an episode and a half dedicated to these guys hoarding this hedge fund, hoarding the Ontario teacher's pension. These things are huge. They're huge. So 6 million is not that big a deal. But the benchmark is

because now inside that fund, the people who are leading that fund are going to be looking at that quarter over quarter, year over year, four year stretch over four year stretch and saying, what performed the best? Was it our NASDAQ position? Was it our long term bond position? Was it our, you know, whatever, our indexes? What did we buy that did the best? Was it real estate? Was it REITs? Whatever.

I mean, I know what the answer is going to be already over five years. It's going to be Bitcoin. It's going to be Bitcoin. And these other pensions are not going to wait five years because they are held to the standard of their industry, which is something we never talk about. Everyone says, look at the way that certain investment firms are performing because they have Bitcoin in their allocation, they have Bitcoin in their fund, whatever. Pensions don't care about hedge funds. Pensions don't care about retail investors or family offices or any of these things. They don't care because it's not the same standard. The same way endowments don't care about that or these major cruise liner type investment outfits. What they want to see

is in silo comps for allocation size, for performance, and for expectation going forward. And so what you're going to see now are other pensions finally going to be looking, finally looking at Michigan, Jersey City, and saying, yeah, these guys did it. We should do it too. And the other thing that I think you're going to find is Jersey City. I don't know if they can do this because I'm not sure what the sort of expectations are, the general mores of the pension game. But would you be surprised to see like Jersey City and Michigan's pension boards, investment boards, starting to make public facing statements about Bitcoin? Writing documents about it, writing. Because there's not many other things investment wise where you can do that at the pension level and influence the outcome, right?

Like if you start writing about the benefits of investing in NVIDIA as a pension, the price is not going to move. If you start writing about the benefits of investing in gold as a pension, the price is not going to move. If you start writing about the benefits of investing in gold as a pension, the price is not going to move, but you could maybe move it with Bitcoin. And I think that you're going to start seeing these guys look across the table at each other for the first time, because now you're starting to see real players get into this on the pension side. And like you said, it's the ETF. It's not spot, whatever. I'm with you. I wish it would hold spot, but I think there's reasons they can't, at least for the moment. They're going to start looking at this and taking it more seriously. Maybe even, Len, to your point, what you will see as more pensions

get into it is a company like Casa or River or Unchained come up with a self-custody solution for a pension that covers the basis as far as the law, covers the basis as far as the investment board, covers the basis as far as XYZ, and allows them to self-custody and get out of the ETS. The demand for those products isn't there yet, but as more of these things come in, they may be there. And I think there's PMF for self-custody at the pension level in this, not quite sovereign level, obviously, but it's coming. Slowly but surely, it's coming. This is the first step, right right it's really good to see and not a mystery again to my earlier point that these things happen the weekend of the conference because that's when everyone wants to hear about bitcoin when all the eyes are on bitcoin that's when you release the news that's

when you get good press and they are getting good press i haven't seen any negative stories about that anywhere so kudos to those two proton mail yeah not sure if you saw that one but they've released a new wallet yeah and if people that are interested proton.me wallet it's currently beta i haven't signed up to it so i haven't tried it of course like you know i wouldn't be able to provide any insight into it but from what i understand you do have to open up or at least uh tie it to a proton mail account so if you're going to do this you might as well open up a new proton mail account i would also if you're going to do it maybe use tor slash vpn as do you have a proton mail account yeah good yeah good everyone i mean several it's a free yeah everybody should have one i've actually thought about getting a premium one i think it's only like 25 bucks a year or something like that i don't know what do you get out of it i mean i get more you get more uh

identities and you get some other stuff like calendars and whatnot i would love to get the fuck off of gmail honestly but i'm just so interwoven in there at this point that one day one yeah i mean anyway sorry for the time but yeah go anyways yeah this wallet is available if you want to just sign up and this might be a good way i mean i'm looking at this uh as a way to introduce bitcoin to privacy focused individuals that are yet to so pre-pointers to how many people using proton don't know about bitcoin though i don't know i again you know i don't interact a lot with normie so it's hard for me to say i would hope that they all do but you know the dream the dream right so anyways they're planning to make this it's seamless as just sending an email when you send Bitcoin.

So you could send email simply by using a Proton email address. So if both the sender and recipient have the wallet, you could just send your Bitcoin using a Proton email address, which is rather cool. Proton will not reuse Bitcoin addresses for privacy reasons. This is good. They say it's non-custodial only for on-chain at the moment they say lightning may be something they can implement in the future but nothing for sure and they say there's coin joins that's also being done but from what i gather you're still dealing

with an online device the keys are associated with something that's online so that's the one thing that's kind of concerning to me that That's why I like my cold card. The keys are never exposed online. But I guess for this, for small transactions, it's fine. But I wouldn't, based on what I know, right, I could be wrong. But I wouldn't trust it for anything for significant sums of Bitcoin, just because you're using the keys online. Proton Unlimited, $200 for the year.

I might use CBP money for this at the end of our fiscal year if we got money to burn. 500 gigs of storage, Len. 15 email addresses, three email domains, unlimited folders, labels, and filters, 25 calendars,

and high-speed VPN on 10 devices. That's not bad. That's actually not a bad deal. Yeah. Yeah, but emails, you could sign up as many as you want for free vpn you could go to mulvad and it's what is it like five six five euro a month so i mean i don't know i mean if you want to just all-in-one solution that's fine yeah maybe it works i'm always looking for all-in-ones anyway yeah queen kelly open the chat you get folders you get more than that queen kelly oak okay don't be don't be sassy in the chat uh i don't want to just i don't want to yeah also for this one this is a rather big news because they're

going to be launching a bitcoin financing business it's going to launch a 2 billion with a b initial financing it's going to allow people that have Bitcoin to leverage their Bitcoin. So rather than simply selling it, you could go to them. This is huge in two ways. Number one, by not selling your Bitcoin, you're not going to be subjected to capital cash,

capital gains tax. Number one, but number two, people that have their Bitcoin. Now they have a way through a, an established firm to use that and get more capital now i'm not trying to suggest people do this you should though if you're thinking about selling this is what you should be looking at first potentially yeah

potentially as an option this is a truly a fiat solution to a lot of but i think by allowing this it's going to open up doors to a lot of businesses to own bitcoin but not just own bitcoin they're gonna have to own spot they can't simply use an etf and take advantage of this yeah so it's gonna be advantageous for them to buy and hold on to their bitcoin if they want to start using this type of service. So there is a lot of negative to it, especially if this gets highly used and there's a massive drawdown, it could unwind the market. And we've seen this happen in the past and it could tremendously bad results. But this is a fiat thing. I think, but it's good though.

Is it not? Like I just saw Willie Wu tweet about something today in response to Schiff. And actually this is an interesting, it's in the same vein, you know, Schiff saying people who never sold their Bitcoin, like you're never going to be able to make money on it, blah, blah, blah. And Willie Wu responded like, this is, everyone knows this by the way, you hear this from Bitcoin guys, you hear this from, you know, real estate guys, the Karadzas, you hear this from stock guys, you know, famously guys like Tim Cook and Bezos do this with the Amazon and Apple stock that they have.

The trick is to never sell your assets ever, no matter what. It is to take fiat loans against the value of your assets because everyone knows that the currency will be debased and the loan will eventually be worthless. This is the whole game. It's the whole game. It's the whole game. On a smaller scale, if you want to see what this looks like, see what happened to people who were forced to sell in the last seven months in Canada and the US as rates stayed high and really started to cause pain for the average household. See what happens to those people's bank accounts and asset holdings as they siphoned out hard assets, equities, home equity, whatever, sold their homes potentially in downsize to save

themselves mortgage money. And then see what happens to people who didn't sell any Bitcoin, didn't sell any assets, didn't sell any real estate, didn't sell any equities over the next five years. The inflation will keep driving up the price of the hard assets, the limited assets, and the loans are static. The dollar value is the dollar value. The purchasing power is not accounted for in the total money owed. And so to me, it's like fucking insane that people don't realize this, but I think this is a really good um a really good option and canada for sure by the way you know what they're uh famous infamous for in the bitcoin space they hold all the tether bonds so they are they're a big they're a big player they're a big player they they are they are uh dare i say crypto native uh yeah they say they hold a shitload

shitload of bitcoin or something like that yeah probably probably yeah yeah but then again like remember i mentioned if starts things start to unwind it goes fucking awful but it's but it's there's no but the leverage is not quite the same right it's not like you know they they have the bitcoin if something goes sideways i'm not saying they i'm not they're they're probably going to be okay. I'm talking about the market as a whole because then you've got a systemic... For sellers if the price drops. It just drives it down.

We've had this two years ago. So that's what I'm trying to say. There could be some fiat gains that's going to really impact the price moving forward. At least the value of Bitcoin moving forward. I guess that's always been the case, but potentially even more so. Joey, that's it for bitcoin stuff i think we should just transition great good good session there stay here if you're on video come back if you're on

audio until then take care of yourselves yeah have a good time with your bitcoin and everything else you're playing with play