The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #194 -Quantum Compute, MSFT Opts Out, Vancouver Opts In (Bitcoin Podcast)

Episode Date: December 18, 2024

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well you don't know what happens you might be asked to leave right you could be you could be escorted out you could be uh yeah why am i applying i should be fucking trying to do other jobs playing for that we could talk about google the big splash they made this quantum quantum yeah willow is a new ship so stupid oh yeah well a lot of people took this it's like man bitcoin's going to be broken and sure looks like it on the price the price sure says that doesn't it a lot of people worried about that huh a lot of i'm wondering you know are these drones in the states running quantum computing chips i'd love to know because they seem to be yeah because they're evading everything bullets and everything else so maybe that's it joey the way you're you're doing that

he may want to move the camera down to show what the fuck you're doing so i'm just excited about quantum listen this this willow thing like listening to all in the other day which by the way is going to completely fall off now that sax is not on every week i hope he makes his return but shamath who like come on talking about how he's one of the smartest guys in the room all the time my god i missed my next meeting as soon as i heard about the quantum thing because i wanted to see if it could break bitcoin shamath we're going to be fine we can put in quantum resistant um hash algorithms or whatever we want to do it's not a big deal. I would also note for people who are saying, oh, this is finally going to break Bitcoin.

Listen, if SHA-256 breaks, this is the encryption standard for everything, banks, weapons, you name it. This is what everybody uses. If it breaks, Bitcoin is going to be the least of your worries, least of my worries. The same way that people are like, oh, well, what if the government shuts off electricity and the internet? What are you going to be the least of your worries, least of my worries The same way that people are like Oh, well, what if the government shuts off electricity and the internet? What are you going to do with your Bitcoin then? Like, buddy, if they do that, Bitcoin's going to be the last thing on my mind I'm not worried about that If that happens, yeah, Bitcoin will have lost But we have much bigger fish to fry if that's the case

We're talking arm rebellion, okay? When this Willa thing came out, a lot of people were talking about how This is innovative and it's first of its kind but it's only one chip i understand or one uh virtual qubit and to break the bitcoin i'll go the output yeah so it's only one qubit or something like that to break the algo the hashing algorithm for bitcoin you need thousands of these things is that what i'm understanding now i understand that those and you can't gain these things no and those curves don't get me wrong i understand that the the difference between zero and one is not going

to be the same as this being one in a thousand there could be a thousand of these things in two years or something like that even though it took us you know 2 000 years to do it this far um but i really am not concerned about this at all um i think you know what's interesting joy yeah like the fact that this came out they came out with this willow chip and denouncement did yeah now i'm wondering if there's any correlation between this and the fact that department of justice is going after google and gonna say look you guys might have to sell chrome because it's a monopolistic offering you have now if google says look we have this chip here and it can fucking break all this shit and who knows you know we may want to sell it to to foreign governments and so i'm wondering if they're

using this as a ploy. So I don't know. We could fuck with you later on, but it may not even exist. I don't know. But I will say that the one thing I did think that the all in guys came up with that was good. And it's more articulate than I could have. I could have been with it. When you talk about things like antitrust and governments trying to make sure that no one gets too far ahead of someone else and they don't want everyone to get all the wins. Like, like the government is so fucking far behind the eight ball that they're talking about whether or not you should be able to have the Chrome browser on

an Android phone. When at Google they're building quantum chips, like, like talk about not even in the ballpark. Okay. Like, talk about not even in the ballpark, okay? When you see antitrust hearings and politicians who have been in government longer than you and I have been alive, asking questions about the browser on your phone, while in the background, Google is breaking encryption methods that are used for nuclear weapons these people are not competent not only they're not competent but things are getting away from them len do you know where this is written or what is written this idea that governments are going to get so far behind and start making all the and start doing all the wrong things while i don't know is the sovereign individual

it's in there this exact scenario almost is in there. That government will try and shut down things in certain companies or in certain silos. But by the time they're even able to identify there's a problem, the problem will have completely shapeshifted into something else and be just impossible to contain. This is a good example of this. Perfect example. What if Google, if you had a big pie big pie 100 what do you think their ad revenue makes up in terms of your overall revenue i got 45 80 wow 80 80 that last i checked so and if you look at google uh sorry chrome that it's feeding a lot of that data to the mother

and i'm not trying to justify this but i'm saying if somehow they were forced to to separate that from their product their ad revenue is going to take a beating over the long term because they're not going to have that all that information coming in knowing that people are searching for giving a digital fingerprint for everybody and then feeding them shit that they want to see in terms of targeted ads yeah that could hurt their bottom line long run it could especially if as long as things remain the way they are right now it could but like if you have if you have the quantum chip like how much do you care about ad rev on your bottom line anymore at that the question is is it does

it exist and is it something that he's using as a ploy to say like the thing right like i'd love to know you actually can't prove the thing exists without having another one to check the math let me get a couple of joints going you want to smoke a joint we'll talk about it this is pretty close to like high hash rate uh territory here well oh fuck do you know that that show is on hiatus why yeah so um they're just getting really busy both my yeah dan so for the time being there are some shows that's in the bank and they're going to be released but once they're they run dry it's you know i'm not sure what's going to happen moving forward. At the very least, it's been put on ice, that show. What if they do rotating guests?

Or rotating hosts. I'll host one, and I'll talk to somebody about some cosmic shit if they want. But you have to get fucking just... I mean, I don't know if I get... I suck at getting high. I would have a couple of beers. It's a high hatch rate if you're doing that.

It's just this show, but on a different fucking platform. It's just the same old shit, right? Which is good, but if you want to be something different. I just want to say, yeah, the high hash rate, it sucks. We wish Dana Mike the best. Yeah, we do. And also, I wish Microsoft shareholders the best because they have voted that they want to have fun staying poor moving forward.

There was a vote last week for shareholders december 11th i believe it was it was a proposal entitled the assessment of investing in bitcoin and so all shareholders out there decided to cast their ballot or at least the ones that did decide to cast your ballot um in favor was only 0.55 brutal so it's closer to 100 don't want it and from what i gathered the proposal was apparently submitted by the national center for public policy research never heard of them before but apparently they're the ones that submitted the proposal so good for them i mean a couple of bitcoiners a week or maybe a bunch of Bitcoiners a week. How did they get that through? I thought those proposals had to be voted on

by board members. I have no fucking clue. And then it goes to the shareholders. This is a fiat world thing. I have no clue. And I'm going to just gloss over. 0.55% is so low. That's like almost embarrassingly low.

In Microsoft's defense, they do say, they noted in their disclosures that they are always considering different treasury assets. And so there's really no need for them to, you know, especially consider Bitcoin or whatever,

which, okay. But they accepted Bitcoin between 2014 and 2018. So they understand it's a medium of exchange. They understood it early. And it's hard for me to imagine now that with all this other stuff going on, BlackRock even last week or, yeah, today's Monday, so it could have been earlier this week, last week. God, time is flying by. Saying that like a 2% to 5% allocation is really rational for almost anybody of any size, any investor, any hedge fund, like 2%. Why didn't BlackRock vote on this to say yes?

I don't know how the proxy votes work. I'm not sure how they work. Like do all the, because I own Microsoft shares individual and in ETFs. Okay. I was just going to ask you this question. You know exactly what I do. I don't know. I don't know.

I don't know. Okay. I was hoping you'd get it. I got one voters package. I didn't vote, but I got one voters package and it just doesn't say anything. It doesn't know. I don't know. Okay. I was hoping you'd like one voters package. I didn't vote, but I got one voters package and it just doesn't say anything. It doesn't say how many votes I have. It doesn't say fuck all,

just had all the list of lists of proposals that we were voting on. So. You know, Vanguard and BlackRock combined. They own 16% of the outstanding float for Microsoft. That's a lot. In terms of. You don't own it,

but like they. Yeah. They own it on behalf of yeah they want to be half of people exactly yeah so that's what i wanted to know like can they vote not your share votes not your shares not your money okay well micro strategy looks like they entered the walled gardens of i love this story i love this story let me just change my tag here please continue reading the uh the headline. Also, FSAB rules are now applicable or they're going to be applicable in the next few days or something like that.

This is more your jam, Joey. So, you know what? I'm going to just fucking tee it up for you. It's all yours. I love this. MSTR. I think Saylor could be a spook. I don't really care.

I think he is running out of ways to express his ideas. He's really running low on Bronze Age parables to talk about why he thinks diluting his company for Bitcoin is a good idea. It's easy, Mike. Don't mid-curve it. Bitcoin is good. The more Bitcoin you have, the better. What's after Bronze Age? Is it Iron Age after that?

I guess. Depends on which Age of Empires you're playing. I think that if you are maybe Feudal Age next in a lot of Age of Empires games. So anyway, I think the thing to keep in mind with MSTR is that, yeah, they're on the queues. The S&P is the big one. I think that could come in 25.

And then the fair accounting rules is coming in Q1 25 for sure. And every company is going to benefit from that. But MSTR may be more than others because they have all this Bitcoin on their balance sheet. Now, I think that he's taking a lot of shit, let's say, from mainstream media personalities. He goes on TV and gets it pretty good now all the time from everyone not named Joe Kern kernan and i think it's because he's over the target in a lot of ways but i also think it's because people the the normie brain can't really wrap their head around some of the stuff he's saying shit even i can't do it some of the time i have to listen to it twice uh to really like try and get my head around it but at the end of the day he's found

the glitch he's in the glitch. He's in the passives now. And I don't see how this doesn't continue for at least a little while longer because the money coming into MSTR is now coming in without anyone thinking about it or being judicious about the flows. People who buy the Qs every week or every two weeks are buying mstr now pensions have mstr you know what else can you really say that's a that's a big win and how is the distribution of the holdings done is it based on market cap so the highest market cap gets the highest allocation so as it just like and it slid in it's now going to probably get the smallest percentage right now. The percentage is available somewhere. Eric Balchunas.

I would imagine so. Again, this is a fiat thing. Ladies and gentlemen and everybody else, I just buy my quarter. That's it. I find for me, it's the easiest thing. I can understand that. And I don't have to think about anything else. And I have control of my-

Trudeau is live right now. Trudeau is live right now. At a Liberal Party fundraiser at the laurier club so he's not giving anything new there he's just basically raising money for an election right i don't know anyway the mstr thing uh other big thing market cap is important because when you start talking about fair accounting rules um you may be able to drive your market cap up a little bit as people appreciate more the balance sheet strategy. And that leads to more. I mean, you can figure out the flywheel for yourself here.

I won't repeat it. I've said it on the show before, as of some of our guests. It's another win, I think. And you can agree or disagree with MSTR. I mean, we're in a couple of pretty passionate chats where people talk about mstr basically all the time um there's no better way i don't think to get bitcoin exposure in a tax advantaged account at this point it's better than ibit it's better than coinbase um yeah i don't know that's really all i have to say what else is there like what else is there to say about this sailor got it right so far and I hope he continues to get it right.

You know, like I said, I wish them the best. I hope success for both he and micro strategy. I don't want to see either of the two fail. I still, I will always go back to, I wish they held their own keys,

but other than that, I wish them the much success they could get i don't want to see them fail that's basically it and i'm not a holder and i have no exposure to them whatsoever um so yeah i mean if they fail or not doesn't impact me i just don't want to see them fail yeah but vancouver they passed a motion to make the city Bitcoin friendly. Love it. They're looking at investing as a treasury asset. So first off, the mayor is actually donating his family. He and the family are donating $10,000 worth of Bitcoin to the city.

Great. That's the initial. Here you go, guys. Talk about putting your money where your mouth is, eh? Yeah. Good for him. Mayor Kim, I think, right? Yeah. Ken Sim.

Sorry, that's his name okay yeah yeah so yeah so you're gonna get a lot of remember this is in bc and it leans a particular way on a canadian political spectrum so you can hear a lot of you know there's an environmental impact from bitcoin and plus organized crime maybe these. These people are, they are addicted to losing these people. They are, they have, they have, they have a,

they have a, an itch. And the only thing that's going to satisfy their Jones is just more public losing. And so that's the only thing that will satisfy them. So somebody is asking how much is that in? So 10,000, it's uh 660 000 nice no no my bad yeah it's it's 66 000 sacks that's it no gotta be more than that yeah so like it's it's fuck

like in every day how many is it do we get the number here what's going on no it's it's... Oh, my bad. 6.6 million. My bad. 6.6 million. Okay, I was going to say. Holy fuck.

That number... I remember putting like 100 bucks and getting way more. Same. I'm just like... Buddy, last year, how many times did we... I won't speak for you, but the number of times I went to the post office and bought a million sats, and now it's just not feasible. You can't carry that much cash.

For anybody wondering, I only went once, and it was a great experience. I dropped a 20 on that. So I got like six million sats. Just wanted to try the product for this podcast. Just wanted to give it a shot. Yeah, it's a great product. Too bad. And they resolved

the strikes right now so it was not resolved sorry forcibly resolved yeah mandated get back to work you slouch what a fucking anyways back to this um the city is like vancouver keep in mind they want to start taking in bitcoin as for payments but also invest it. They put money and invest it. The city has a projected deficit of $43 million for 2025. They're going to be in debt according to this by $43 million.

Where are they going to get this money to buy Bitcoin? I don't know. Why don't they sell fentanyl? They probably already do. They're not using it to buy Bitcoin. They're using it to sell more fentanyl. They sell fentanyl? They probably already do. I know. And they're not using it to buy Bitcoin. They're using it to sell more fentanyl. They sell fentanyl and then maybe something like that. I don't know.

So they have an operating budget of $2.3 billion. So of that $2.3 billion, it's not enough for them to meet all the obligations. They still are $43 million in the hole. So what I'm trying to get at is I'm not sure how they're going to be able to allocate anything to the Bitcoin. They don't have a money printer there. So they have to rely on a province and a province, you know, like whatever.

Scott Dietels was there. I'm not sure if you saw this, but he was there. I retweeted his little address there. It's great, man. Like I said, you know,

Scott did a good job in the three minutes he had, I thought. And he was on the show. He replaced you temporarily. He co-hosted. Yeah, we gave him a big thanks last week. I mean, look, man, Deez is turning out to be a really great Bitcoiner. And, you know, they didn't get much time to speak. There's a few other people who are friendly to the show or friendly to me on Twitter that I listened to during that little

chance they got to speak to the council. And I thought there was a couple of good points by Scott, especially. No one's asking you to do anything crazy here. We're just asking you to save in a currency that's not meant to fail at saving. That is exactly what bitcoin is like i'm not asking you to do anything nuts i'm just asking you to put your savings into a vehicle that's not meant to decay while it's being held like that that's all i'm asking you to do that's it and he is 100 right but i just that's why i was talking about the fact that they're they have a deficit projected for this year it's like you're going to a homeless guy and saying you should buy some bitcoin yeah it makes sense but where the fuck you're gonna get that's why they have to be the same maybe the same place that the

guys who are getting sued over encampments will get the money maybe there's like a secret uh ten thousand dollars like i don't understand how they could do this i know it's not a bitcoin story but like that to me it just doesn't make sense. Ontario is suing or threatening to fine encampment residents with $10,000 fines. I'll tell you where they're going to get it here in Hamilton. We just had an encampment raided because there was reports that turned out to be accurate of an underground tunnel network and fentanyl trafficking operation.

Was that a gauge park? Yeah. Yeah. So, well, cool. Are you telling me? Are you telling me that the guy who is in the tent and building reinforced tunnels can't find a job at Tim Hortons? Is that the case you're making to me?

Here's the bigger one. They could build those tunnels with just their fucking fingernails in there. But if you go to Toronto, it's $1 billion per kilometer for the subway. You could just give them the contract. They don't even need fucking tools. You say this is what I need. I'll give you a diet. You just draw it on a fucking napkin.

You come back in a couple of days, it's fucking done. Here's a spoon and a bottle of water. I'll be back next week. And I'll give you all the fentanyl you want, buddy. It's buried in there. Keep digging. You'll find it and you'll see a fucking tunnel built. It'll be back next week. And I'll give you all the fentanyl you want, buddy. It's buried in there. Keep digging. You'll find it. And you'll see a fucking tunnel built.

It'll be fucking magnificent. God, what a mess. What a mess. So I don't understand how they're going to get this $10,000 per individual. Again, I don't want to paint everybody in one brush. But I don't think people want to be homeless living in a fucking tent. Maybe some do, but I think it's a small minority. I don't know. Because they're there because they don't think people want to be homeless living in a fucking tent maybe some do but i think it's a small minority i don't know because they're there because they don't fucking have and if you don't have you can't take from somebody that has i'm not 100 sure what they're

going to do with the encampments but anyway let's let's go back to bitcoin stories it is a good story if you haven't seen it go look it up the uh ontario yeah ontario finding encampment residents do you hear about this australian pension fund called amp and they put in 27 billion dollars into bitcoin and they acquired bitcoin somewhere between the 60 to 70 000 range so you can figure out when they're up they did it yeah they're quite a bit and the assets under management for this pension fund is $74 billion. And this makes them around the 11th largest pension fund in Australia by assets under management. I did some searching.

I could not find the answer if indeed they hold their own keys or use a third party or even worse, hold a Bitcoin ETF. But either way, they have allocated a small portion of their overall wealth into bitcoin keep in mind pensions they have no appetite for volatility so when you see more pensions like this and it's not the only one there's been others wisconsin comes to mind there's been several others it to me that's a very bullish indicator of bitcoin because if you got these people and they're all in the bonds, they're on this fucking these, this shit like that. And they say, let's buy a little bit of Bitcoin. I like that.

That's fucking 100%. Speaker 1.: Like the idea that they'd even go down that road is big. And so like when people say, when people say that Bitcoin's too risky, here's the thing to consider you as a normie investor retarded. If you think it's too risky. A pension- They're very regarded. I just want to be very regarded. A pension, do you know how much inertia going the other way, away from Bitcoin,

has to be overcome for a pension to say, yeah, we got to buy tens of billions of dollars worth of this asset now? We're not dollar cost averaging in. We're not buying 10 million today, 10 million next week, 10 million next month. We're not going to review the strategy every time we use it. No. These guys are overcoming incredible amounts of institutional incompetence when it comes to whether or not they should buy Bitcoin. They're overcoming incredible announce of institutional aversion to anything that moves more than a percent a day. And yet here they are buying it. But you, the Normie investor, think it's too volatile. Okay. All right. You think it's too much? Okay, good. What's your idea? You got any ideas? I don't think so. give me a fucking break man i

wonder what they're talking about normie investors what i have to say is they bought like a decent amount they put you know 27 million that's a huge chunk yeah yeah it's a decent and every like anybody that has control of some money you should put even a small even you know a thousand bucks two to five percent well two to five would be wonderful but even like just put a thousand bucks just to figure it out and learn how to use it to self-costly and it just gives you exposure to it and you could kind of then start following it and understanding i gave my brother 20 bucks in bitcoin on coinbase in 2017 and the price of bitcoin was probably like five thousand dollars. So what's it worth now?

You know, I wonder if he does even remember that. Could he even sign into his Coinbase account if he tried? I don't know. You probably could. Yeah. It's probably sitting there. Coinbase.

They, I mean, say what you want about them. If you have an account with them, they don't. It's yours. Yeah, it's yours.

It should be. Yeah. You hear all these talk about them, them locking accounts out but i don't think your brother would be in that situation so fuck yeah i'd still be there and encourage him to take it off so rather than keeping on on the exchange but yeah like there's got to be a lot of pressure to not buy bitcoin from these pension plans and they're doing it and there's more of them doing it. Like, I can't think of anything that's probably that gives you more friction besides me watching WNBA.

Other than that, that's basically it. But we can move on. Let's talk about the state of Texas. And there's a Texas Strategic Bitcoin Reserve Act. And they're talking about adding Bitcoin as a part of their treasury. And this whole ordeal is they want to hold bitcoin for at least five years so they want to cover one full cycle and more yeah it's great it just seems that's odd five years i would say four years because you know if you kind of look

at the cycle that fifth year sometimes goes down if you give it in the fourth at least you could give the option you can say i want to pull out and it's up to you but the fifth year you just i don't know it just seemed kind of odd to me. I think the cycles thing is good. But I think the thing to keep in mind is that the more time you force the hold, the more time you get for education. That's the thing I think is important. And I'm not 100% sure that you're going to see. Again, we may disagree on this.

But the same volatility and drawdown that you used to see in Bitcoin, it's not going to be 80%. I don't think anymore. It's hard for me to imagine that that's the case. You never know. Famous last words. I know, but I like the extended period of time for education more than anything else. Keep talking to people.

Keep explaining it. Another year worth of examples why it's important. Another year worth of debasement. Another year worth of all these things, right? Let's keep on that. And let's make sure people know what they're invested in and not sell just because the price hits a high. I mean, it's a more optimistic way to look at it, not necessarily what they're doing, but I think that's a reasonable side effect or secondary outcome of a policy like that.

Preston Pyshko 06.00 How disappointed would you be if they bought it and put on like a passport or something like that oh god that foundation passport announcement today just do you want to i don't know i don't know who like who's who is partnered with passport like what shows what podcasts like you you have to look you have to look at passport and think like these guys like hyped up an announcement and basically just oh my god my laptop just froze uh these guys yeah yeah these guys made an announcement and it was just that they're basically outsourcing security to secondary software developers for wallets and going to

expand the quote unquote support surface for the devices, which also obviously increases the attack surface. Just completely ridiculous, terrible decision. But like NVK said, I think it was NVK that said it, this is a symptom of a company that claims to be Bitcoin only, claims to be best in class, claims to be all these things, not being able to make a dent in the Bitcoin only market. And so what do you have to do? You have to adopt garbage. What do they adopt? Do you know what-

I think the first thing is Cake Wallet. So that's Monero maybe among other products. But yeah, there's a few things I saw the CEO or whatever tweeting today. And actually he responded to a friend of the show, Praveen, on one of his tweets. And Praveen made the case of like, this is the dumbest idea you guys have ever had. It's so insecure. Unsecure, insecure, probably some combination of the two. But anyway.

It's both of them. It's not good for sure. If you're a Bitcoin podcast and you're partnered with a hardware wallet that's not CoinKite, I need to know why. I need to know why i need to know why like what like what hardware devices are doing things better than coin kite you could make the case

that coin kite is not the most user-friendly i would accept that but you can't tell me that coin kite and foundation are so vastly different in their approach to new users that it's fine to have passport as a sponsor instead of coin kite you can make the case to me that the the whatever the block hardware wallet that's like bluetooth enabled and multi-sig by default and all that stuff like yeah it's it's not great because is it called bitkey or something yeah yeah yeah bit stone or bitkey it looks like a stone but anyway like you can make the case to me that's a good wallet for beginners and so it serves a market that maybe coin kite doesn serve, but foundation does not have

that benefit. And by the way, the difference is that Bicky is also Bitcoin only. Like what, why, why would you be driving people to products that are so inferior that they can't make a dent in the Bitcoin market? And they have to prey on people who know less about finances, less about crypto, end up in garbage tokens, etc., etc. Like you can't – and I don't often go at content creators on this show because we don't need to. But like that's a mistake, man.

It's a mistake to do that. There's one wallet device that you could build with your own Raspberry Pi and I – fuck, I forget the name of it. But apparently it's not bad. there's one wallet device that you could build with your own raspberry pine. I forget the name of it, but apparently it's not bad. Like it's, it's a good alternative to cold card and fuck. And I'm sorry for not remembering the name.

the seed signer. That's it. Yes. Good. That's open source. That's open source. Yeah. That's one that I mean, I never tried it,

so I'm not going to either, but people like it and that's fine. And it's, it fine. It meets your needs because you're part of the engineering process. Great. You verify you do all those things. That's what you want. Awesome. But again, Len it's Bitcoin only.

There's something to that. I think people who are missing that I don't Especially the podcast. That's what I just, I don't. Especially. Does it have that hot coin? That's what I want.

Get me started. Yeah. We got to find out. Boom. This is asking me who's my WNBA team. The mystics. I just learned about one name, New York Liberty.

I, you know, if you ask me to name now a second team, I swear to God, I would not be able to name. I have no clue. My WNBA team is whatever. Go ahead. Cameron brink is on if you know you know i don't so i don't even know how many teams are in the league i have no idea if canada is even represent i have no

fucking clue and i'm gonna keep it like that it's not just today like i just don't give a fuck look at d in the chat. You say Bitcoin only, but you're buying a shitcoin stock. Cry harder, you big baby. MSTR is holding Bitcoin. I know you don't like it. You should have bought some. They're not holding Bitcoin.

No one cares. They're not holding Bitcoin, though. They buy it and let somebody else do it. So the risk that they borrow the money and then pass on extra risk to their end user or their shareholders by having somebody else hold it i'm not saying they're gonna get rugged they're accreting i'm accreting anyway what's what else is on the docket here what else we got see what we got here uh do you see that somebody was able to take down the whole doge network that's i did i did see a little bit of this a whisper yeah yeah that's great i love

that 69 of the network that number is funny by the way i don't think it was just 442 nodes in total were taken down and this is because this guy named andreas cole and he was able to use a vulnerability that was discovered by the researchers tobias ruck and it caused the nodes to crash using something called doge reaper vulnerability great node reaper and he was able to do this with an old thinkpad laptop in el salvador and he was able to take down all these nodes i found that to be pretty funny now is he over there at el salvador my number imf coming in now they're fucking taking down doge is very busy now not to say that this thing cannot happen to bitcoin certainly there could always be vulnerabilities in software not software's

always being involved they're trying to to remove bugs make it more resistant to shit like this but i'm just trying to say like it's i think it would be harder just because of the sheer number of nodes and the wide variety of node software that's being run we talk about quite a bit but not just the different versions of core but you also have knots in there so like i think bitcoin just because there's a lot more out there a lot more different types of nodes being run i think it gives them a sense of security not a sense it just is more secure compared to something like doge doge a lot of people like it for what i don't understand it's fun it is listen it's a fun it's a fun shit coin fine but like it is it's a shit this is what happens when you dabble in shit coins 14 million doge i believe is the number is created every day 14 doge do you remember a little while ago during i think the last run-up maybe like the 69k run-up

or something like that uh litecoin no it wasn't like when what was it ethereum classic etc not ltc etc had a huge run up in price and people in the Bitcoin space were pointing out that this thing had been, that the network had been 51% attacked a number of times and the price was still absolutely ripping. There's just no cure for degeneracy sometimes. Like people will just buy shit no matter what.

We got buddies in like Pepe ETH eth pepe or whatever and it's like i get the charts every so often from the guy how's your value of this grilled you made you know 500 or whatever but like you have to at some point you have to exit that market the liquidity is not as not as good as you want to be the likelihood that you top tick is very low and the candles going down are going to be just as fast as they were going down. I think Manny understands that. We talk and... No, I know. He does understand. Manny Manero. We haven't used that word

on this podcast. Is he still in that? I saw him the other day. He's in it. We'll confirm with him later this week. He's got a new wallet he could use now he could use that fucking shitty that's right

and apparently there's this new wallet that's going to go live this company called Exodus and they have all kinds of shit coins in their wallet and apparently it's got approval to go live on the New York Stock Exchange EXOD is the ticker name

the fuck now we have wallets that are going to go well presumably it's presumably it's going to have a token is that why well they have 1900 bitcoin apparently onwards in the reserve i don't know how they accumulated that much maybe they've rugged customers i'm i have no fucking clue how the fuck does a wallet company go like this is a quick rug we're claiming this as our own i love it i love it yeah that's a quick yeah it's a great way to just increase valuation and uh yeah just i don't know i don't trust this kind of shit but it's another one it's it's full of shit coins x i've never heard of exodus before and i'd name too it's like overused good good bible times book in the bible is that it exodus

i think it is or is that deuteronomy i forget i have no fucking clue i don't know as you could catholic catholic trivia there that's it for tonight we're getting out of here um thanks for sticking around for freeland hour thanks for sticking around for the Bitcoin stories I gotta say man it's the middle of December I can see can you see how many people are watching listening Len it says 226 but I don't think that's accurate I think that's more of a reflection

looking on Twitter I think that's everything on Twitter, YouTube I gotta say like I really appreciate that you guys come to the show and tune in and watch and you can be doing anything else but instead you come here and watch me throw the ball up and down. Me and Len just bullshit about what's going on in the economy and Bitcoin. It's great, man.

It's therapeutic for us and I hope it's good for you guys too. So yeah, we will see you. You already did Wednesday's show, right? I did. It's just released on Wednesday? Okay. It's going to be on Andreas Park. It's going to be released on Wednesdaynesday the video and audio thursday yeah and it's it's a little bit different because tell

people about this i don't think you mentioned this last week we talked about it off the air but i i want to hear what people think about this well he's a professor at university of toronto he's rotman school of business and he uh was i saw him first on bloomberg talking about the modernization of the banking system and they should employ blockchain technology in order to bring it to the next level and he's not a bitcoiner so he's he does understand a little bit of technology and he also he's seems to be more of a fan of eth too because of uh ether sorry because of the fact that uh it has some characteristics that are you know more banking light banking like but so i i'm kind of in the camp there's going to be some changes in the banking system there's going to be some evolution

uh but uh i think that it doesn't stop there eventually it's going to fail tremendously because of the sheer debt and so forth. So I think that's where we separate in terms of where we believe. But it was fun to chat with him. And it was just an interesting chat because, again, he's kind of coming from a normie angle and academia. And so he's talking about the banking system. It's just interesting to just get an idea on how he thinks, how strong it is, what were the cracks are, where they can shore things up and stuff like that. The reality is, as much as we talk about banking failing eventually, at least for the foreseeable

future, we're going to have to deal with them. You're stuck with it. Yep. Yeah. So I'll be happy to chat with him again if he wants to. I don't think he walked away angry or anything. We didn't buy heads or anything. Good.

I'll be looking forward to hearing that um and yeah you know that who was the dean of the dropman school of business carney tiff no tiff really yeah yeah because uh we talked about tiff and he brought up the fact, wow, there's a connection there. Really? Yeah. Tiff, baby. If you want in, I'd love to chat with you, especially now.

You're fucking amazing. Tiff, I'd love to have you on. Okay. God bless. We'll see you next time. Take care. Don't be a cock.