The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #192 (Bitcoin Stories) - Businesses Stacking Corn, Saylor's Microsoft Pitch & Cheap Wallets

Episode Date: December 3, 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.gg/YgPJVbGCZX A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This show is sponsored by: easyDNS - ⁠⁠www.easydns.com⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. D-Central Technologies - ⁠https://d-central.tech/⁠ Your home for all things mining! Whether you need a new unit, a unit repaired, some support with software, or you want to start your own wife-friendly home mining operation, the guys at D-Central Tech are ready to help. With industry leading knowledge and expertise, let the D-Central team help you get started mining the hardest money on Earth.

Friends and enemies, welcome to another edition of the Mighty CBP. It's Monday night, and here we are doing our thing like we normally do. But you may notice for people tuning in or listening in, Joey's still not here because obviously he gave birth. He and his wife gave birth to a lovely girl, Maya. So congratulations to Joey. He's still off. Hopefully he'll be back next week. But I'm not doing this solo.

I'm not doing this alone. I am not going to be fumbling my way through this all by myself. I have Scott Dietels with me. Scott, how are you, buddy? I'm good. Calling in the D team. Get the fuck out of here. I always joke that this is part of a series of trials to see who's going to replace me in the long run. So if you do a good enough job, maybe you'll be the co-host with Joey. But for people who are unaware who is Scott Dietels, I'm just going to give you

a little bit of background and maybe you could fill in the blanks i know you're the host of the block reward podcast i had you on our show some time ago we had a riffraff about uh what's going on with you your thoughts on bitcoin and so forth that's in the archive check it out if you want to hear more about him if you want to follow scott on twitter it's lantern bitcoin or an x it's lantern bitcoin and also you could see his website lantern LanternBitcoin.com. So check that out. Anything I'm missing with respect to you, Scott? Sure, yeah.

The podcast is actually just something fun that we do as part of the larger business, which is Block Rewards. And Block Rewards is a company dedicated to changing the way we think about getting paid. So Bitcoin compensation rewards tools for enterprise scale employers. And you're based in BC. I don't want to dox you just in case you don't want to give exactly where you're located. But you're a Canuck. So you fit the bill of being part of the Canadian Bitcoiners podcast. So it's good to have a Canuck with us again. And yeah, man, it's gonna be fun.

Hope you enjoy this. Yeah, we we Canadians punching up our weight class in the Bitcoin space. No doubt. Yeah, there's a lot of us doing our things. And we're having fun for the most part. At least I think we're having fun. I am at least and if somebody's not, fuck them. I don't give a shit. So first thing I want to talk about is, well, we have some sponsors. I got to get off my check list of things to do. So well, number one, we have EZDNS and Mark was on their show last week. He's the champion of EZDNS. And what's EZDNS is a place where you could buy your domain name, remove your domain name, etc. So stuff along those lines. But also if you want to do hosting of websites,

hosting of emails, migrating your web or email servers over, you could do that with EasyDNS. So lots of different things you could do with EasyDNS, including if you want to do a Nostra Relay,

if you want to run a node, you can even do that remotely, have it done on their platform so you don't have to deal with all the nitty gritty of running it. EasyDNS.com, check it out. If you use a promo code below CBP Media, 50% will be taken off your initial purchase. So it only makes sense to load up and get a whole bunch of stuff because then you're getting 50% off of a whole bunch of stuff. So check that out, EasyDNS.com. Second sponsor, Bull Bitcoin.

Scott, you used Bull Bitcoin before? I have, yeah. I like Bull Bitcoin. You're friends with Bull Bitcoin for sure. Yeah. And it's a great place to buy Bitcoin. Look at the price, $95,000. So some would say it's a good time to buy. Some would say a good time to sell. You're both right. I don't know. Maybe you're both wrong. Either way, maybe you're both wrong either way you could buy on chain you could buy a lightning let's check out the fees uh they are 12 saps per v-byte so still on chain is the way to go but lightning is available through bull bitcoin a couple of other things you could do with them you could also buy gift cards so you start spending your bitcoin in the real world you get like a home depot card or an amazon gift card and you start spending your

bitcoin indirectly like that or you could start paying your bill so you have like a Home Depot card or an Amazon gift card, and you can start spending your Bitcoin indirectly like that. Or you can start paying your bills. So you have like a Rogers bill, cell phone bill, or a car bill. You can use your bill service to pay for bills using your Bitcoin. So lots of different options. Open up an account if you haven't done so. And if you do that and fund it,

you'll get 21 bucks added. No questions asked. I see Boomer in a chat. Boomer's coming on on Wednesday. Are you familiar with BoomDust, Boomer? Yeah, I sure am.

We just had Boomer on the show on the BlackRock podcast. He is a gem in the space and periodically he has a meetup in the great city of Ottawa. A lot of people are very lucky to have him and we are very lucky to have him as a

friend of the show so and you too scott we're happy to have you as a friend of the show as well that's this is great we have a lot of people that are a great way to recruit me to want that spot with yours when you're done when they left i'm done after they this is my last show so thank you very much joey's coming in and it'll be you and he going forward. But anyways, one last thing I have to do on my things to take care of. I got some boosts. I'll do four of them. I got Wedge Social. He sends in 113 sats. He said, my mind's blown. Bitcoin vigilantes buying shares then leaning on the board to create a Bitcoin strategy, stating company's fiduciary responsibility to purchase Bitcoin as a treasury we'll be talking about that topic quite a bit today he also writes in whoa bitcoin game boy

game so he asks when there's going to be a release of the nbl 94 no it's not coming out there's going to be no have you ever played scott you ever play the game nhl 94 before oh i was actually noticing that picture in your background there and uh i definitely came up in that era it's still playing today for when they introduced bleeding like the head bleeding if you or was that 93 like 93 was the head bleeding and take it out in 94 unfortunately there's a story behind that i don't want to get into it here for some people but what a fucking great game it is oh yeah i just love it i still play it today wartime 333 sats he says i used to love game boy and this is with respect to hero bitcoin which made the game hero bitcoin for the game boys so check that out i interviewed him just last week and dug and roop 10 000 sats thank you sats. He says, looking forward to when a new member of the CBP media

makes her first appearance on Notable News. Big fan of downbeat price vibes when we're hanging around 130,000 moose shekels. Like, it's no big deal. It gets so true. We're hanging around like 90,000-ish US dollars, 95. And it's like nothing, right? Like, meh. It's super bizarre.

I could not imagine a time like if you even thought about this two years ago and we're just casually talking about when it's going to get a hundred thousand i get texts from friends who aren't watching and like it's bizarre and we're just waiting for that magical 100 to come around when it comes around i like that meme of the guy that's in front of the computer, celebrates with an angry face. And you know what I'm talking about? And he hits the mark and he's like, whatever, just keeps moving on. When we hit 100,000, it's going to be like, whatever.

It's in its destiny to get there. So really, is it going to be a big deal? Maybe. But it's just another step in the road before we take over fiat. Yeah, it's kind of like New Year's Eve. You know, it's going to turn 12.01 at some point. And I was talking to Samson Mao on the weekend, because he's into this annotation of Bitcoin is 0.1 M. And the idea is like, once we, like at some point, we're just going to actually stop talking about it in K period. And like maybe a hundred thousand might be the point, right? Like once that's hit, it might make more sense to start thinking about it as like

0.2 M, 0.3 M. And cause like eventually the points of an M will also become a measure that becomes outdated. Right. Then it will be M's and then it will be something bigger. And Bob doesn't say careful bringing up Samson with Len. I it's more Joey than me. For me, I don't give a fuck. He's to me. He's just there. One thing I have to note, the block clock doesn't have an extra digit.

So once we hit that 100,000, something is going to have to give. I think the dollar symbol is going to have to disappear on that. But we'll see once we get to that magical number. And once it gets to a million, what the fuck? They've got to make a new block clock. What am I missing with the... With Samson? they gotta make a new blog let's show his people what am i missing with the uh with savson um he just now i don't want to put words in his mouth his mouth so um i'm sorry if i got this wrong but i believe he's just not impressed with his january 3rd company and what they're doing to

try to bitcoin provide bitcoin information to companies and try to orange pill company or countries out there so he's just he's a lot of flash but that's about it there's nothing there's no real substance to him i think that's what his his beef is with samson i don't really care samson for me is just there doesn't really do anything for me one way or another. So I don't really care. Terrup was actually saying Mutant League Hockey is better. You ever play that game before? Yeah, I did.

I have had a spin on Mutant League Hockey. My favorite hockey game was actually the one, I can't remember the name of it, but it was like, there was three kinds of players, and there was the fat player that was slow, and the skinny player thates yeah yeah that was nes hockey the best that was awesome and you know what at my work we play uh we typically play 94 at lunch and um somebody brought in uh the switch and in it had a game that was very much like that game

that you mentioned, that had a fat guy, a skinny guy, and a medium guy. And it was just like a kind of a, I don't want to say a ripoff of that game, but just a modernized version. It was fucking incredible. Four players, it was just great. Nice.

Yeah. Blades of Steel, another good one. Yes. That was like the intermediary, the game in between those games. Yeah. Good times. I think we're kind of the same vintage.

I'm probably a little bit older, but you kind of remember all those great games back in the day. But anyways, Scott, I think we can just dive into Bitcoin news unless you want to do anything else. You want to talk about anything else before we just simply dive in? We can talk about Bitcoin all you want, man. I'm here for it. We don't have to talk Bitcoin. We to talk about anything else before we just simply dive in we can talk about bitcoin all you want man i'm here for it um we don't have to talk bitcoin we can talk about anything else too this is just the opportunity but let's talk about bitcoin you could talk about all this flood of money coming in from public country to companies wall street and so forth i i just i'm amazed by how much money is now coming in for companies that are just adding it to the balance sheet as a way to they're calling it as a way to hedge against inflation hedge against

debasement hedge against whatever but like i'm gonna go through a list of companies and scott feel free to like stop me at any time to start talking about any one of them in particular so jiva technologies you ever hear of this company or Jiva Technologies? I hadn't until I did. I saw the announcement, but no, I hadn't heard of them before this. Yeah. A publicly traded Canadian company of that. And they're focused on wellness, technology and e-commerce. Kind of like an odd mixture of things. But either way, there's something funny here and I'll explain why they have announced they're going to allocate up to 1 million dollars into bitcoin for its treasury strategy and the company board of directors they approve this move and they recognize bitcoin's potential

as a hedge against inflation and a valuable addition to their reserves now keep in mind they said they're going to add 1 million dollars of bitcoin or up to 1 million dollars you know their market cap scott is only 412 000 dollars unless i'm wrong with their market cap like let's check it again like this something doesn't jive here that can't be right yeah so this is it uh 418 as of today. Yeah, 418,000 Canadian at that. So something doesn't jive here. They say they're going to raise somehow up to a million dollars and buy Bitcoin. But the company itself is only valued at $430,000. Something doesn't jive, according to BloomDust.

Right? Like you see this move is like it sounds good but as soon as you're scratching the surface is the fuck is going on here yeah right it seems like why is that even an announcement for a company that size yeah it's a pump and dump yeah right like their stock jumped 9% today, almost 10% today. So are they just doing a pump? I don't know. I mean, when I see these announcements, I'm like, yeah, this is good and all.

But then as you start looking into it, it's like something just doesn't add up. And this one doesn't pass the sniff test. I'm not saying that there's something fucked up here, but there may be something fucked up here. You know, and it's like, I don't know how much I'm interested in, like, all of the individual announcements as much as just, like, the trend of how many of the announcements there are. And, I mean, that buy in particular,

like, I never even really, like, just kind of glossed over it. Some of the other ones have been pretty significant, though. Like, Similar Scientific and MetaPlanet. really like just kind of glossed over it. Some of the other ones have been pretty significant though. I like similar scientific and, uh, meta planet. Um, the one,

uh, sailors, uh, presentation in Microsoft has gone viral over the last, was that this morning that it was released? Yeah. Yeah. Yeah.

So we'll talk about that in a bit because that's a really good talking point. I watched it twice just to make sure I totally understood what he was saying. But there's a couple of other companies I want to bring up. Actually, probably a few more. Remix Point. Remix Point. I don't know. It's a Japanese company that's publicly traded.

Again, they said they're going to announce, they announced $500 million dollars worth of yen to buy bitcoin that's around 3.3 million us so around 3.3 million us to buy bitcoin is to increase their bitcoin exposure this is a company that their market cap is 48 000 sorry sorry 48 billion dollars sorry 48 billion dollars my mistake so this is one that it actually makes sense so they actually have a lot of market cap in which they could buy this 3.3 million dollars us so we have a very small company and this one relatively speaking is a very large one so i see this yeah it makes sense but then there's there's more um sos limited you saw this one they said they're going to announce up to 50 million bitcoin they're going to buy and what's their market cap 13 million

how how does this work that you can have a company say we're only worth 13 million but we're going to buy up to 50 million dollars worth of bitcoin that there's got to be some accounting magic happening or they're pumping this thing for the sake of pumping it yeah or there's you know like our butt point there's there's so many dead companies like our company's going to just start liquidating every asset they have to just buy Bitcoin and become Bitcoin holding companies. And I mean, at this point, being a Bitcoin holding company is actually a smarter business than most of the businesses people are trying to run. It's who knows? Well, boom does the same. Why doesn't CBP media raise one million and buy one million

dollars worth of Bitcoin? And then we have a market cap of $1.00021 million. If somebody wants to loan us $1 million at 0% over five years like all these other companies are getting, I'll be happy to say yes and buy corn and then pay you back never and then just hold that corn and disappear. So yeah, if anybody wants to do it,

great for me. MicroStrategy today announced they bought another 15 000 bitcoin 1.5 billion dollars like these guys they're just they're going nuts with how much you know how much you're buying that good for them but like you said like these are this is a company now that's no longer a software company. It's now a Bitcoin holding company. And that's why I'm in the camp of like, I'm really starting to get confused or a little bit curious about how they can continually buy at this scale.

One, like functionally how it's working, but two, like to buy 15,000 Bitcoin and not move the market is um you know if it happens once that's fine like there's lots of you know it's a global um 24 7 completely liquid i i can i can see that but at some point you would think these announced buys would cause some price action that's noticeable. So yeah, I don't know if it's just that they, because all of the Bitcoin that's held at Coinbase can be sort of moved around on an internal ledger and these transactions aren't happening on chain. I'm a little bit disappointed about Saylor's, some of the positions he's taken and one of them is around you know um

the transparency of how they're doing it all are you disappointed in the fact that they don't hold on to their keys themselves they're asking they're holding they have a third party taking control or taking ownership, so to speak, directly of the Bitcoin? Yeah, I mean, I think like, I can see why with the volume that they're buying and, you know, companies like that are going to be held to different types of scrutiny. So I get that it's not sitting on a ledger and sailor's desk, but I do think they should be able to provide an on-chain address. I mean, there's got to be some way to show proof of reserves. How do they get their Bitcoin back from Coinbase? What is the mechanism?

What is the process? Can you even guess? If MicroSciG says as a company, we want to sell a certain amount of Bitcoin. So let's take off, say, 10,000 Bitcoin off your exchange or off what you're holding. Give it to us and we'll take care of the selling of it. What's the process? Did they just simply call them? Yeah, great question.

I mean, I imagine at the sailor level, he's got Brian Armstrong's cell phone number and they probably have a serious white glove situation happening. It's got to be a lot of checks and balances, right? Like it's simply not just a single individual calling up and asking for it. It's got to be probably a series of yes, let's do it. We agree. Yes, we do. We agree. Yes, we do.

And then they move the Bitcoin over. I mean, that only makes sense right yeah and it's like i get you know it's cool the sailor's really pioneering a type of financial engineering that's like totally novel and he might actually break the fiat system by himself in doing it which is also kind of neat. He's also pioneering a totally unintended use of Bitcoin.

I don't know that it was meant for one company to buy up 5% of the total supply to take it out of circulation forever and use it to print infinite fiat. It's just kind of a strange situation. The reality is I don't think they're going to keep it off forever.

It's basically locked up forever. Eventually, they're going to use it for something. They may borrow against it, but there will come a point in time where it will be moved and sold for something. It probably just won't be happening for a very long time. That's the reality. Yeah, I don't know. I mean, I don't know why.

You know, I think like in the not too distant future, no one's going to need to really sell a serious amount ever. As long as fiat exists, you get Bitcoin into higher numbers, 400, 800 million, it's climbing. You'd be stupid to ever really sell it. If you could borrow against it and you're paying off fiat loans in an appreciating asset, with the amount they have, it's going to be all the money in the world one day. So I don't know what would be the motivation for them to ever have to liquidate some well if a long enough time horizon you'd expect fiat to no longer exist there'll have to be something to replace it and whatever is replacing it i mean a bitcoin

back dollar or bitcoin itself i i don't know but at that point then i think that in order for them to raise any capital serious capital they didn't have to start selling their holdings for some thing like either a good or a service or something i think i just think over a long enough period of time they'll have to sell it but i just don't think it's it's just gonna happen anytime soon and i don't see them selling it for fiat just doesn't make sense maybe i'm wrong but the fuck do i know see that even marathon government's about to so so. 10,000 Bitcoin-ish? Do you ever take that as a number? Yeah.

I don't know. Do you think they're tanking it, the price, a little bit just before Trump gets in? This is something they've planned this out? Yeah, that could be one explanation. It's just about the only one that I can see that might make sense. I mean, at this point, it's like you would think they would be looking at the bag that Germany sold and what they've lost. I mean, surely they just have to understand it well enough to know that the price is going up. I mean, even if they don't understand it, yeah, I just don't get it.

No, it's interesting to watch play out and another one i just want to mention is marathon i'm not sure if you've seen this marathon they're just going nuts they're offering 700 million dollars zero percent convertible notes with an additional 105 million dollars on top of that and they're using that to buy bitcoin this is a bitcoin mining company right like they're trying to get the 50x a hash per second in terms of mining capacity by the end of this year and looks like that they're mining on the side but buying bitcoin primarily it's funny to see that their focus has changed marathon they've been shitty players in the past they could do what they want they could buy all the Bitcoin that they want, just like same with MicroStrategy. But it's just funny to see

Bitcoin miners, at least this one, one of the biggest ones, maybe the biggest one out there, no longer just simply Bitcoin mining. They just buy Bitcoin and adding it to the balance sheet. I find that kind of funny. I mean, this is the thing I think that it's like, what happens when all of a sudden every company

has to buy some bitcoin just to because that's just what you have to do and uh yeah i get so curious like you know we see announcements about public companies but i know of a ton of private companies small ones medium size that are already executing miniature versions of the smug strategies strategy and they just don't have to announce it because they don't have any public disclosure requirements. So, um, yeah, like I said, at the start of the show, there's just so much money flowing in and, uh, we, we don't really always know from where to where gradually and then suddenly.

And see in the chat. First off, I just wanted to note that boomer saying that marathon is juggling too many balls yeah they are and uh costa ricardo crypto interesting name for years i've been i tried telling friends family co-workers about bitcoin they laughed or brushed off now they're all coming back curious ask me about this bitcoin thing how times changed and he's right. Like things have changed quite a bit. I'm not sure if you're getting random texts, emails, messages from normies out there asking about Bitcoin these days. Yeah. You know, and they're always the

ones that think that it's like the people who will think that a hundredk is a meaningful number. I mean, like I said, and it is a meaningful number, but you know, it's definitely not, I mean, it's going up forever, right? So, or until we stop using other money. So those texts always make me laugh just because they're just people that I've unsuccessfully orange-pilled who are happy for me,

but have no intention yet of buying bitcoin usually what i'm waiting for is that time when there's nothing left on the exchange and when there's the exchanges they are empty-handed what happens to the price at that moment i'm just dying to see and it seems like we're just slowly moving forward to that particular moment if you look at glass node if you believe that information to be correct you can see that the supply and exchange is just over time continues to dwindle may take a year or two before we get to that magical zero number but if we continue at this pace it's gonna be fun to watch yeah yeah i uh i wouldn't be like you know playing russian roulette with that number just you don't you don't want to be on the wrong side of it and fucking right yeah yeah don't trade just buy and hold but there's

one thing i want to bring up too how long have you been in bitcoin like when did you first buy so 2017 is when i first bought and if you look at the timing i got in at 2017 that was um it ran up and then then it just fucking crashed it just that was like after november december of 2017 then again bitcoin crashed in 2021 november that hit it hit its lowest i guess and here we are three years later it's now at its highest. So maybe next year it could be this lowest. Like if you follow this kind of this cycle, I don't know. It seems like this a hundred K barrier, it's just a tough nut to crack.

And I don't know, you know, I personally, like I, the one I I'm always, I'm up for people having their own ideas and opinions, but the one that I never really cared much weight for is diminishing returns theory. So this idea that like every Bitcoin cycle, the new high is a percentage of compared to the cycle of the previous high will get smaller every time because the overall number of Bitcoins get bigger. And for me, that idea is, it just ignores the way technology adoption actually works and how FOMO works. So I think we are, you know, like I'm not really one much to talk about price

or speculate about it, but my personal opinion is we're going to blast way past 100, 200, 300. Like, I think if you just reverse engineer back to this thing about how many different entities, companies, and countries are talking about strategic reserves. This time around, we have the players who

actually have the volume of money that would be required to catapult it into some serious new heights. The Bitcoin price, it's only like what has been traded last. Like it's basically, that's what it is. So I hope you're right in terms of my stack,

but in a way I hope you're wrong because I want to continually add to my stack at a cheaper price. So I'll still buy in, even if it's at a million dollars at today's price, but I'd prefer to buy in at like 95k and i prefer to buy 2000 to be honest but i think that that ship is long sailed yeah i mean it's still cheap right it's like uh i think like bitcoin under 100 trillion market cap is cheap yeah 100 trillion

you're talking about real estate coming in you're talking about gold basically being liquidated and coming. That's a huge fucking number. Yeah. Wow. Okay. Let's talk about the mayor of Vancouver. Yeah. And yeah, because he's gotten some press and some airtime on Bitcoin Twitter or X Twitter, whatever we call it these days.

Ken Sim, Kenneth Sim is his name. He's the, his worship. He's the mayor over there in Vancouver. He said he's, he wants to put forth a motion to add some Bitcoin to the balance sheet of the city of Vancouver. And he said, he also wants to make Vancouver a Bitcoin friendly city, whatever that means.

I don't know, but that's something he wants to at least try to achieve and how he's going to go about adding Bitcoin to the balance sheet. At the very least, he's going to be presenting a formal motion and that's slated to be presented sometime in december i don't have an exact date but sometime during this month it's going to be proposed and just something of note when he was running for mayor ken sim he was accepting bitcoin as donations during his mayoral run so you know he was cozy with bitcoin although when he was elected back in october 22 22 uh so just two years ago and one month ago he didn't say fuck all about bitcoin since then so this past week is the first time

we really talked about bitcoin since almost like a polyev thing except at least polyev oh this guy has talked about a polyev hasn't not sure if you want to add anything to this yeah i mean it's tough like polyev totally uh you know like they can't talk about this stuff because of how the media will uh you know chop clips apart for sound bites and all of a sudden um these things get twisted around it's it really sucks um my understanding with the way that Vancouver's, however their sort of financial charter is structured, that they can actually make this decision to add the Bitcoin. They don't really technically need to do anything, but it sounds like they're still sort of going through a process to make it seem like to gather some public support.

It's cool. For one, I think that a city that size in Canada is going to really turn some heads, at least in Canada. And then all of a sudden you have to think that it's in Calgary and Ottawa and Toronto and Montreal and would have to start thinking about it. And so for me, I'm excited to see a major Canadian city taking leadership here. You know, I think that municipalities and provinces and states have a responsibility to their own citizens to do what they can to protect those citizens from currency debasement that happens at a federal level.

And this is totally like if you get back to the early sort of construction of Canada as a country, premiers have have a ton of power. And this is like part of what we're seeing with Daniel Smith in Alberta. So it's to me, it would be it would be good to see local politicians thinking more about the levers they can pull to to protect people locally. And, you know, like property taxes are just one pain point where I live. It's like it's just a given how it goes up. And these are things that Bitcoin actually does fix.

Right. So to maybe another thoughtcouver is already like it's got to be considered the bitcoin capital of north america in my opinion uh if it if it's not i would love to know where is um so it's cool just to see uh i think this would be a big stamp like vancouver already has a ton of merchant adoption thanks thanks to like the guys at Koinos as an example. So just need to see those two things coming together. So I hope it happens. I hope other cities follow and yeah, we have to use the movie for now.

Mining Stock, sorry, he says the mayor of Vancouver is too woke. I can't add anything because I have no knowledge of the individual, so he may be or maybe not. I don't know, but he's talking about Bitcoin, which is interesting. And TGEM is saying that December 11th is when it's going to be. That's Wednesday next week is when it's going to be. That's Wednesday next week. It's when it's going to be proposed. The motion is going to be submitted. And Michael's asking, did he say how he would fund it? To the best of my knowledge, no.

So I guess this will come out through the motion, unless you have something. Yeah, I mean, I think all these municipalities have funds allocated. And at a certain time, like those those funds are portions of them are sitting in cash so uh it's probably just from uh from existing sort of like investment reserves now with respect to vancouver being the bitcoin city they were the first city in canada maybe north america that had a bitcoin atm installed many many years ago and there's a few things like you mentioned coin us about or coin else they're onboarding merchants to start accepting Bitcoin.

And you're doing it a lot of that primarily in the Vancouver area. So yeah, there's, I, it's hard for me to say which is a better version or better a city that have the title of Bitcoin in Western America, but Vancouver may be it. And in terms of other cities getting it, you mentioned Toronto. They're one that I could see at least under the current regime, no way. There's no way.

I think of Toronto as like the event horizon of the fiat singularity. It's the most fiat. In so many ways though they're hard up for cash and just this past week the federal government came and gave them a lifeline by saying they're going to buy a whole bunch of subways with federal money so this is huge because obviously the capital cost for buying new subways is just too much for the city to deal with. And so this is a real gift for them.

But just infrastructure, it's just aging over here. They don't have enough money to repair it. And they're spending money on other things like renaming Young Dundas Square. And so I wish Toronto would. I wish a lot of these cities would. But man, oh, man, just unfortunately no. So Michael Saylor, we'll talk about him again. This three-minute pitch that he gave,

well, that's going to be going to Microsoft. It's available now for all to see. If you haven't checked it out, it's available on X. Just type in Michael Saylor, Microsoft, you'll see this video three minutes and he talks about digital capital and how microsoft should be purchasing it and this is the preservation of capital and he was showing off almost gloating in a way the bitcoin returns uh mstr's returns as well and so forth he's just showing chart after chart of chart comparison

to bonds and even throwing in microsoft's stock in comparison to all this and it's just you know it's mstr dwarfed it in terms of the the gains and he was even showing off that trump was saying you should never sell your bitcoin he said this at the last bitcoin conference in july of this year yeah i think it was july anyways he goes on to say buybacks and dividends are probably not the best course of action for investors moving forward buying bitcoin can add hundreds of dollars to the microsoft stock price so it was pretty clear pretty short in three minutes that's all he had but it was concise he didn't mention anything about who should hold a bitcoin i hope he doesn't give them any advice and microsoft they figure things out themselves

and hold their own keys if they indeed intend to buy bitcoin which i don't think that's the case but uh do you have anything else you want to add to this you know i i do uh i know that like the sailor analogies are not for everybody and some of them are a little bit too abstract, like sailing a ship through the oceans of time. He's a very poetic speaker sometimes. I do like how he started talking about this idea of digital capital. It's one that makes sense to me. I think that how he's talking about it even for himself and like to an audience like that is evolving and like i really think that saylor you know he's doing a couple things

one of them is he's pioneering this strategy creating a new way of thinking about corporate balance sheets but he's also um like he he is a really important uh bitcoin evangelist for like in my mind he will go down as like a andrew carnegie or somebody from uh you know it's kind of a legendary person so the more those things go viral and he gets talked about and he he's he has the ability a unique ability to reach people like you and i just are never going to get to. So that part, I think it's cool. Whether Microsoft does or not, I have to wonder how far away we are from a company of that size making a decision like this. And I can't think that it's that far away.

If it's not in 2025 I'll be shocked and you know it could be anybody like um there are there are many you know I think there's like 97 companies or some something bigger than micro microstrategy right now so um like if Disney decided to buy Bitcoin, this would be a huge announcement. And yeah, so if he's the one that ends up sort of like triggering some kind of like large scale corporate arms race for Bitcoin, that's a pretty significant contribution to adoption, even if he is also simultaneously, you know, calling the rest of us paranoid anarchists. Lost in all this is Tesla. They still own Bitcoin. They have sold some of the Bitcoin they bought back in 2021, but they still own a good chunk of

Bitcoin and have it under balance sheet. And this is one of the biggest companies out there. It's not Microsoft size, but it's one of the biggest companies in the world by market cap and world-renowned, recognized. Personally, I'm not an Elon guy. I don't like Elon. I think he's a complete fraud.

And one thing that I think… No, no. I've heard this before. I want to hear you unpack it. Oh, yeah. I mean, Elon and Peter Thiel are the same. Both those guys are some of the only people on the planet that pretend to be understanding Bitcoin less over time. And so, yeah, I think like nobody is coming to say Elon is not coming to say Bitcoin and whatever Bitcoin Tesla has on their balance sheet has nothing to do with probably anything that's good for us in my opinion.

I want to... Many, many moons ago, Joey went on a rant about Elon Musk. I think he called him... I could be wrong. I remember remembering the word charlatan and scam artist. Shit like that. He edited it by saying he wouldn't be surprised

if he ended up behind bars one day i are you in that same camp yeah i mean i just it's a little bit of like uh what are they in a magic trick or the prestige right where there's like you know watch the one hand and you don't know like sleight of hand right so yeah he's he's he bought Twitter and that's probably been a good thing but you know there's a lot like he's advancing a lot of other shit that's not gonna be good for us and we um one of these things is a you know brain chips and and biomedical security state. It's like you can get public support so easily right now because it's so easy to hate on a lot of the public figures that

are really easy to hate, and so I think that Elon is getting a lot of leeway because he's done a few things that are very popular. And he's cozy with the government, the incoming administration. Yeah. And a lot of what he's done, and maybe this is the wrong way to say it, a chunk of what he's done has been funded by taxpayer dollars. Oh, totally. Yeah. That was the reason why they stopped with the Bitcoin thing in the first place, right? Because I think

it was going to jeopardize their carbon credits on the car business. So they didn't sell the Bitcoin, but that was why they stopped accepting Bitcoin. And he was on this whole thing about once a certain percentage of mining is renewable energy,

we'll consider it. But even the renewable energy thing obviously is ridiculous. And I'm sure he does actually understand that Bitcoin mining is probably the most environmentally friendly technology that's ever been invented. So like, you know, if he's as smart as people think he is, then I'm sure he understands this stuff or he's like, you know. He's an actor that doesn't understand anything stuff or he's like, you know, he's an actor that, uh, that doesn't understand anything. And he's, uh, who knows?

And one can make a strong argument. The exact same energy breakdown that's powering these Bitcoin miners is powering the cars is charging up the batteries in this car. Oh, I mean, electric cars are the dumbest, like, you know, the idea that they're good for the environment is the stupidest scam that's ever been foisted on the human civilization. They're good cars. I don't want to be a simp for electric cars. But, man, at least Tesla's. They're just great cars.

Just as long as we don't have. I'm not saying they're not good vehicles. But the idea that they're greener than uh yes our cars i think i don't know it's not the case there's another story and i didn't share this with you this is kind of off the cusp so i i'm sorry if you don't have much information on this but it's something called lilly go l-i-l-y-g-o and they have lilly go t display have you ever seen this post on x or have you heard about this? No, I have not.

Let me give you the ins and outs of this. This guy named UTXOlean on Twitter, he showed off one of these. And these are Lilygo T-Displays. These are $13, US dollars, boards. And you could use these to turn into a Blockstream Jade Bitcoin hardware wallet. $13. You could just simply buy one of these things from liligo.cc.

You could flash it with your PC using the software from the Blockstream GitHub. And voila, once it's rebooted, it is acting like a Blockstream Jade. I'm not the biggest fan of Blockstream Jade, but the fact that you could run, you could set up your own hardware wallet for as little now as 13 US dollars. That's interesting. Now of note, there is no secure bootloader on this.

So it's not the most secure device. And the Jade does use a blind Oracle. That's another thing to consider. So I'm not the biggest fan of the blockstream jade but for people out there that want a budget device a budget hardware wallet rather than using leaving it on the exchange like michael saylor does you can just get one of these 13 devices and run your own blockstream jade wallet like that's pretty cool stuff. Yeah, I don't, you know, I personally never get the, like I'll recommend different wallets to people.

And, you know, if you even have $500 of Bitcoin and like you want to store it safely, spending 70 or a hundred bucks on a good device, I don't get why people get hung up about that. If you think this thing is going to be more valuable today than, or in the future than it is today. But yeah, I mean, if you want to,

if you'd rather spend 13 bucks and go ahead, I'll be over here with my cold card. I always recommend a cold card. In fact, this past weekend, just two more people. I, one bought it.

One still has to buy it. And we're going to do a setup. It seems like every weekend I'm doing another one of these events where I'm just teaching people how to set it up. But yeah, that's the one I totally recommend a cold card when it's done right. It's the most secure way. I mean, there could be others that are just as secure. I don't want to say that this is the best. This could be tied for the best. But at least for what i know i'm a big fan of the cold card even a queue uh a little more expensive gives you a little more functionality but yeah go that route

spend a few hundred dollars and learn how to do it sleep well at night the 13 dollar lily go interesting but i i wouldn't like you say punch or put all my bitcoin in that especially if it's life-changing potentially life-changing funds that's gonna be put on it like learn something better than that but still nonetheless i think it's rather cool i like seeing these projects put out there like i don't know i'm a big fan of this now the lillygo i can't say much about the hardware i don't know if there's any backdoors built in it, if there's stuff that's in it that's something, a cause for concern. I don't know. But nonetheless, I just wanted to point it out.

It's cool stuff. I mean, if you had to cross a lake and your life depended on it and you could do it in an aluminum boat or one that you had to make yourself out of paper and it was just totally your choice, you could do either, you would choose the aluminum boat right it's like yeah get a good wallet yeah torp saying the cold card is great till you cloud pick the seed words simply just start another wallet that's it i mean just you could delete and start a brand new one on the same cold card so you're not forced to continue using the same seed words on that one cold

card. So yeah, just even if you cloud pick it, yeah, there's, you know, just figure it out. Don't do it again. But yeah, there's a lot of people that do that. They just simply either copy and paste it in plain text or do a picture and put it in the cloud. It's a no, no, that's not the way to do it. Get those metal plates, punch those suckers and away you go. That's the way to do it. those metal plates punch those fuckers and away you go that's the way to do it um let's see what else did you see the the samurai legal defense story that came out i found this pretty funny like for people out there don't want to donate to it i

don't want to talk with samurai in terms of if it's good or bad it should be donating it's just that ocean is giving people a new option out there for people who want to lend their support to the legal defense ocean mining that is and mechanic he's the chief boiling officer from ocean love that title chief boiling officer he announced that you could point your rewards payments your payouts from the hash rate of your miners to a specific address that's being run by ocean and the proceeds of this is for the p2p rights funds bitcoin wallet and so for everybody that are wondering what the heck this is all about remember the samurai wallet people the developers they were charged by the u.s government back in 2023 and they were arrested and the charges were that they were allegedly running an operation for

an unlicensed money money money transmission business and samurai was saying that it's non-custodial they didn't do that but still they were arrested and charged and the court case is waiting to be heard so that's why ocean decided to set something up like this could probably help out the people over there and with the defense fund. So it's supposed to be an interesting story. I don't want to get into Samurai one way or another. I just like the way that people can use their hash rate as another way to donate for funds they like. Yeah, I think it speaks to the strength of the network. Like it's just people will find a way to do,

you know, if there's ingenuity required, there's no shortage of it to be supplied. And the last thing, the Tornado Cash, this is, again, something kind of similar to this, but they were removed from the OFAC sanctions list. Apparently, they overstepped their boundaries by adding them to the list and the federal court of appeal said the treasury uh obviously they did the wrong thing and so yeah just there seems to be a lot of things that are happening behind the scenes i'm not sure if this is because trump is coming to power or it's just simply the timing is right but i found this to be quite ironic that now the tornado cash is no longer part of the ofc sanctions list so um yeah I think

this stuff's really important like even the samurai guys like um protecting people's uh uh rights to write code and to um yeah I I think we're we're we're passing through a very odd period in human history where the legal framework just hasn't caught up to the reality of what's possible. And people should be more concerned than they are about the overstepping. Once these laws get put in place and the overreach is firm, then we're cooked. Scott, I think we're up against the end of the Bitcoin stories, unless you want to talk about any other stories that's just on your mind and you want to just get off your chest. If not, we can just transition to the rest of the stories.

I'll leave it up to you. Yeah, we could transition. I'm not sure. I don't know if there's anyone else. I mean, we didn't talk about the countries specifically, but I guess we did kind of do strategic reserves. If you want to talk about it specifically, here's your chance.

If not, we'll just transition. Good either way, buddy. Yeah, no, fire away. All right, so let's just go to the next story then the uh rest of the news so for people listening in thank you for tuning in and we'll be back at this tomorrow of course for everybody watching live it's a seamless transition so with that take care and don't be a cock