The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #197 - New Year, Old Highs, Trudeau Resigns (Bitcoin Podcast)

Episode Date: January 7, 2025

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:   / discord   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 back to the Canadian Bitcoiners podcast. Happy New Year. Merry Christmas once again for those who celebrate and happy Jan 6th to those who celebrate as well. My name is Joey. That's Lent. Some housekeeping off the top. This will be the last episode of Canadian Bitcoiners podcast. We are pro-roguing in solidarity with the government.

No, no, no, no, no, no. Until March 27th. There's a thumbnail that went on just a little while ago and it says this podcast does not prorogue so no that is breaking news uh we are not we are going to continually do our thing there's going to be no break in service we'll be back again next week live and wednesday in fact i'm going to be doing uh dropping a uh interview i did with yaron uh i can't pronounce his last name lan i hope you have your kleenex ready i didn't tell you we were going to do this but a somber melancholy a melancholy goodbye to bill c63 which died what is 63 again

it's the one about the we're now. We're not going to be in any trouble for saying things that we have established in order. So pour one out. Now, hey, does anything happen to do, like anything change with reporting requirements for Bitcoin in Canada? No. All those capital gains laws never even passed. I think Mark told us that. Someone told us that. And they just, it was on BlackLocks.

Maybe Mark shared it with us. Yeah, and it's like, you know, the tax collectors were fucking grabbing the cash anyway. Give me a break, man. What are we talking about? Listen, we'll get into all that. Let's do the sponsors first. Speaking of Mark, EasyDNS.

Great sponsor. Mark sent me a gift here. And Len1 too. This bomb thrower mug I'm pointing at. I understand there's one more gift coming. I did not receive another package today. It sounds like you did. Do not tell me what it is. I don't want to ruin the surprise, but apart from his outstanding taste in Christmas gifts, Mark also an excellent sponsor with outstanding taste in DNS and securities. If you want to start a website, you want to buy one, port one over,

Mark's got your back. You want to get your email going with start a website, you want to buy one, port one over, Mark's got your back. You want to get your email going with your new website, you can do it. There's a ton of stuff you can do over there. There's a really simple like WordPress plugin

you can use for your blog. We have one there. I've written a few things over the years. I haven't written anything in months. I'm very busy with a newborn, but we still have the website. It still works

and it's all thanks to Mark. Not only all that, Len, if you're a Bitcoin enthusiast, you want to do some personal Bitcoin work there, use a virtual private server offering that Mark has. What's the list? Bitcoin Node, Noster Relay, Null Disimplementation. What else is there? I'm probably missing something on that list.

BTC Pay Server. If you want to sell some pictures of your feet, you can do it. EZDNS is the place you need to be not only that len but uh mark i'll be secure everything you have on his platform with domain sure can't beat it uh never get spoofed never get get taken for a ride by nefarious actors go over use the code easy dns.com cbp media is the code and you can get 50 off your first round sadly mark hardy didn't use easy dns to purchase his he did not he did not i took a look i did a who is on it to see if it was two cows i believe

was the registrar for that so potentially it could be spoofed or something because they don't have the protection that you would get with mark and his team at easy dns so maybe they should move their website over but nonetheless we had another sponsor, and that's Bull Bitcoin. Look, the price of Bitcoin is showing sats. It's Moscow time right now. It's great to see it's in triple digits, not quadruple digits anymore. It's a good time to buy Bitcoin, and it's a good time to sell Bitcoin. So the options you have, you can do Lightning, Onchain.

And last I checked, the fees are still very, very cheap. In fact, there was one sat per v byte were in some of the blocks built this past week so buying or selling on-chain is still preferable in my opinion but bull bitcoin will give you the option to do that or lightning and if you're going to do either buying or selling there's not just that you could do with them there's other things you could do look do people have bills especially after the holiday season they got lots of bills the racked up visa mastercard whatever and one way to pay those bills is you could use your bitcoin look with the price of bitcoin being over a hundred thousand dollars there you go so it's uh

it's a good time to start spending your bitcoin and use that in the real world so one way you could do that is pay your bills with your bitcoin the second you could use that your bitcoin and buy gift cards and with those gift cards you could then indirectly spend bitcoin uh in canadian canadian vendors like amazon home depot starbucks yep stuff like that so lots of different options you could do with bull bitcoin they're non-custodial this is what you want in exchange they have privacy in mind This is what you want in an exchange. They have privacy in mind. This is what you want in an exchange. They have the best in mind for what you're going to be getting in terms of Bitcoin buys, Bitcoin sells. Check them out. Use our promo

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branded bid axes you guys bought them all while we bought one, but we, you guys bought up the rest of them. Uh, and we are very, very appreciative, uh, for you guys supporting the show and supporting decentral like that. Look, if you want to start home mining, okay. Uh, these guys are the guys to go to, whether you want to rack in your garage, you want to do a solo mining type gig, uh, or you want to do some hobby mining, like we're doing with the bid axis. These guys got your back. You need your board repaired.

You want to buy some gadgets, gizmos, whatever you need for your mining operation. They got everything. They're Canadian-based. They're a growing company. They've got a lot of outstanding reviews over the years. It's one of the reasons we partnered with them. And I know you guys will enjoy working with them as well. I want to mention, I won't say who, but somebody who listens to the show sent me a DM

and wants to have coffee, Len, with someone in Toronto, in the Toronto area, we'll say GTA, who knows a bit about setting up mining at a, let's say you rented a small commercial space or a small warehouse space. I said to him, I didn't know anybody, and it might be hard to find somebody because people who are mining generally want to stay unknown for reasons

that are pretty obvious but if you are that person uh and you have a little bit of time and maybe you want to let this guy buy you a coffee let me know and i'll put you in touch with him he is a nim on twitter and uh i'd be happy to make the connection. But anyway, these central technologies, man, if you haven't tried them out already, definitely head over to the website, definitely pick something up. The bid acts,

you can't go wrong with it. Easier to set up than a note. As I've been saying for the last several weeks, that's for sure. That's for sure. We have to get you on one. I'm in a process right now of trying to get my hands on some extra laptops and maybe one will be set up and prepared for you joey sure nothing can be i can't guarantee anything i'm still in the process

of seeing if this is possible but yeah i'm just trying to get my hands on one that's extra and you know what joy maybe you might finally have that note and you could complete the circle yeah could you imagine their five transactions imagine holy fuck holy fuck no one relying on a third party you know even microstrategy runs their own node yes so blackrock i'm pretty sure runs their own node maybe i don't know i would assume they do given what's at stake yeah maybe i don't know. I would assume they do, given what's at stake. Yeah, maybe. I don't know. You want to go to the booths? You got booths this week? Yeah, we got from three different folks.

Wartime 333 sets. And he sent an emoji with cheers, like two champagne glasses. Champagne? Whoa. 100k, I guess? Is that for New Year's? No, i believe that was for january 1st and then uh some things popping so let's see celebration um drinking some champagne so yeah

he also says another 333 sats wartime that wartime guy is sus he needs to chill out with all those boosts i love hearing you guys trying to decode people's boost comments and emoji meetings, happy face, heart, and then cheers. A couple of mugs, beers in this.

He has a voice after all. He does. I like the work time. You're awesome. I love those three, three, three sats. You keep setting in.

Jer sends in 500 sats. He says, thanks for another great episode. And it's a salute with a Canadian flag and the bird. 500 sats. He says, thanks for another great episode. And it's a salute with a Canadian flag. And the bird, 1,000 sats. I wish you and your families to have a healthy, prosperous, and enjoyable 2025. Thanks for what you all do. Same to you and everybody else out there.

Absolutely, man. Couldn't have done this without you guys. Another great year in the books for CBP, and I hope for you too. And a memorable and meaningful 2025 on deck, I am sure. No doubt about that. Sorry, just one of the comments that made me laugh. The comments are absolutely not far. I don't even want to bring it up.

I can't repeat it, but it's absolutely blazing hot in there. It's good. It's not the one I think we... Anything else you want to talk about before we uh did you do tom and nick show i'm i don't know if i'm doing it i'm going over there to chat with them okay okay i don't know if you're doing the show or not i have no idea what's going on i have to schedule an appearance there i was supposed to go in december and i i had to back out because of uh my daughter there. But yeah, I don't know.

Yeah, Jared Melarude from formerly of... Formerly of... He did this show once before. Yeah. I forget where, but he's going to be at the Wednesday release. Lem recorded that on... Yeah, we did it. Was that Saturday or something?

Yeah, I did it Saturday morning, 8 a.m. A little bit after. It was just good chatting with him. He's in Norway, so the time difference works out well for us. And yeah, so next week, gosh, I forget, Tony, and that was the one that Boomer set us up.

He'll be talking about Bitcoin and overseas. It's going to be good to hear about how Bitcoin is impacting people abroad in a positive uh respect apparently he's got a heck of a story to tell and i'm talking to him again this weekend so another pre-recorded release for next week looking forward to that uh after that one more rundown of the guests we have i think len's got one more interview and then i'm going

to take over for a few weeks for sure i have uh mark ripito booked phil back give me one sec joe and just grab a quick drink yeah sure buddy yeah mark ripito booked phil back booked and uh zach btc bap we're going to talk about the denver space one thing i don't see here in canada that i want to talk to zach about is this whole like bitcoin shared you know it's like we work but for bitcoiners I don't know how I feel about that. I've always been, I've been like critical of these things in the past because it feels to me like if you are in one of these like spaces, like I think of these like creator houses or whatever that I see around on Twitter, a bunch of people who are working with other people who are also creators, but like, is anyone really doing that well if they're all like sharing a space and have to like

rent mics and everything all the time? I'm not sure. Are you there for the vibe? I got to talk to Zach about that. I think if it turns out to be a good model, it'd be cool to have one in the GTA for sure because there's a ton of Bitcoiners around here. Excuse me. And I think that it's possible there'd be some demand to be in a space where people are doing bitcoin stuff working on bitcoin stuff um making content all that but uh we'll see i'm looking forward to all those interviews all

the same all the same should we get started what are you what were you good here yeah we could talk right away about this new wallet well that was pretty old actually i'd never heard about before can gem wallet yeah you ever hear of this i had not known no at all no okay it's you like i mean i don't know i've never heard about it before this week and actually you're reading up the story i wish i've never heard of it period but what it is it's a slim this is what they call it slim as a bank card it's a card here yeah it's a slim. This is what they call it. Slim as a bank card. It's a card here. Yeah, it's a little card. And I'll keep talking.

I'll pull the website up and people can look at it. Secure is a bank vault. They say store, buy, earn, transfer and swap thousands of coins and tokens with this 10 gem wallet. And it's cost. It's almost $55 as a starting price for one of these. It looks like it uses NFC as a way to communicate with your phone to facilitate these transactions. So it's a little card,

but anyways, it was, yeah, there's, there it is. And it was reported on Reddit that the device may have been compromised as the seed phrase are leaked and sent out by email. So email notoriously,

not the greatest in terms of security. a minute wait a minute what does that say did you see that look at this we got a problem here len this is an issue for us what is this zero out of two million cards hacked since creation wrong wrong again you are wrong on your website make the correction scam jam wallet sorry continue go ahead well they say that the seed phrases were leaked by email and not only was it sent by email but it also because it is sent by email email it remains in your email history so any malicious actor that takes over your email account could simply look at the history and get access to your Bitcoin. And the info was made aware by this Reddit user and the Tangent team were then informed of it and they recognized there was a bug in the mobile application logging procedure as they describe. And they say it's only impacting a select

group of users perform a specific set of tasks. So not everybody's that's a 10 gem wallet user has been impacted. But the people that did do tasks certain way, potentially would be impacted. So if you are one of them, and I hope you are not, you may want to look at your email history to see if your seed phrase has been revealed. And since then, Tangent has fixed this bug. And they recommend that users out there clear all the cache and other data through the Tangent app. And that can contain your seeds in the logs they also recommend uninstalling the tangem app as another way of doing it and reinstalling the latest version of the app do they recommend just getting rid of it and going to something secure like a cold card and

getting off the shitcoin train is that recommendation anywhere in the literature can you let me know can you can you tell me if they make that recommendation? See, that's a CBP recommendation, not from them, but certainly it's one from you, and I would echo that as well. It's a very good one. Look into something that is much better. There's so many better devices out there, including the one you mentioned, a cold card, and I would not recommend touching anything like this.

It may look fancy and slick. The functionality looks awesome. But reality, what you gain in form factor, you lose in terms of your Bitcoin, in terms of your wealth. It just ain't worth it to go ahead and trade that. Get something that's much more secure. Keys are always offline. Coldcard does this. I'm not going to say that's the only one that does this because people will say SeedSign or whatever.

Whatever floats your boat that's all you know just do something that is totally offline that their keys are never exposed to the internet and when you do generate your keys and another thing i would suggest is make sure it's done in an area there's no phone no microphone no camera nothing there's no way that that information can be taken away from you but this this one this tangent wallet holy fuck like that is pathetic that this information is is leaked in that way it's not like it's sent through like a signal chat or something which is secure email like this is the worst of the worst like it's fucking brutal but the fact that it talks about swap thousands of coins earn transfer like earn like fucking yield the form factor you need to know right like we've talked about this before that there's there is a market fit for some hardware wallet that is big bulky hard to move

and very fully featured like beautiful screen qwerty keyboard uh you know takes different kinds of uh sd cards or whatever something like the cold card but it's a lot bigger because what do you not the only thing you don't need literally the only thing you do not need from a wallet from a signing device is for that thing to be easy to access am i wrong about that like why why do i need my sign device to look like a fucking credit card people want to have and this is i'm guessing here it's the flex it's the flex this is the retard wallet it is why you don't need it in your fucking pocket to pull out and show people okay absolutely not you don't need it all the time to be signing transactions on your phone you shouldn't have all your funds available to anyone who grabs your wallet and your phone.

If you live in New York City, the chances of you making it to work with your wallet and your phone are like 15% anyway now. You're going to lose it to some vagrant unless you get set on fire. Then you got the number of people who are washing shit that they put in their pockets and when they do their laundry. You don't need this. On the list of things you need a hardware device to be assigning device to be portable and cool looking is not on the list. It's just not. And I think more and more people are going to realize this as the value goes up, that you're not looking for something that's easy

to grab, easy to notice, easy to steal, looks cool, looks different, looks unique. This includes cold card, by the way. Eventually, we will move away from this style of signing device, if I had to guess. And I'm not saying cold card is anywhere near where these guys are. This is like a total disaster. But to your point, Len, offline air gap signing is a must. Devices that don't have Wi-Fi or bluetooth must nfc cold card i think has

nfc and bluetooth you can disable you could disable that and you can physically disable it if you disable it permanently yeah exactly disable it like the sopranos would uh you need all these things and the idea that people are still like man len giving their email to their wallet provider why would you ever do that anyway? Like, that's another red flag. This is your entire- Yeah, that's true. I never thought about that.

It's crazy. Like, why should your wallet provider have your fucking email? There's no reason for that. That's a great point. Why? Just don't- Get rid of all these guys. These guys all have to burn slowly but surely.

And they will. The problem is the people who use the wallets will burn along with them. And I think, thankfully thankfully we're probably yeah we're probably past the point now where this matters in terms like media attention no one at this point thinks that the wallets are the problem with bitcoin and so there's not as much sympathy not as many people going it's a scam it's this it's that because there are walls that are easy to use that are more secure but people still go for the cheap shit, man. And you met,

you said it there, what was the price? 55 bucks, 55 starting at like coin kite, not a sponsor sells the cold card queue for, I think two 50, something like that. But the thing is like,

I thought it was like 250 bucks. The queue, the mark four is probably 200. So I don't know. You pull it up. I keep talking here, but the point is that a good wallet costs something to manufacture something to ship and uh you know when you when you see something that's 55 bucks the chances of it really being secure at every level is almost zero i would say

i stay up to 240 us that's us yeah so it's probably it's like 325 canadian yeah they're expensive but they just work right like they just work and you know i hear people talk. So it's probably, it's like 325 Canadian. Yeah. They're expensive, but they just work. Right. Like they just work. And, you know, I hear people talk about, oh, it's kind of a steep learning curve maybe, but you know, here's the alternative. You know, you get the credit card for 50 bucks and you're fucked. So you pick, do you want to spend 50 bucks and learn nothing and lose money? Or do you want to spend three 50 and have these guys help you with it? A company like Bull could help you with it if you ask their support team. I don't know if they'll do it for free every time,

but they have people who will help you because that's a mission-focused side of Bitcoin, the CoinKite, the Bull. And then there's the product and sales side, right? The fucking price prediction million-dollar side, the shitty wallet side. Well, they cater to a lot of shitcoiners. Look at everything they do. It's true. I think a lot of people out there...

It's all bottom quintile stuff. Yeah. They're so accustomed to the fiat lifestyle that they're just, oh, look, I could just tap this and then use my phone to sign everything. They don't have the mindset that you, the end user,

are the one that's totally responsible. The onus is on the user itself. They don't have that mindset. And until they grasp that, they're going to continually use stuff like this with hopes that if they get rugged, they'll be made whole somewhere. It doesn't happen in Bitcoin.

Once you lose your Bitcoin, you're SOL. So take the steps necessary to secure it yes sir there's a proper device offline literally anything is better paper wallet better uh like there's a million things you could do better than this it's just so brutal this second week in a row we've had a story like this by the way yeah yeah last week there was one too i can't remember the details now everything is kind of fuzzy after it shows down these days. As the price goes up, you know, you're going to find more and more of these.

As a crack in a particular system, you'll be able to exploit that crack. Totally. And we're talking about the cold card. I want to just stay on the cold card topic, the queue, in fact. A user on X named BeansBulletBTC, he has released something to the world called A user on X named BeansBulletBTC, he has released something to the world called Stealth Boy and Stealth Boy Light.

And these are hard shell cases specifically designed for the cold card queue. And what they do, it makes your cold card queue look like either a Game Boy or a Game Boy Color. And it may be a cool way to hide your device in case you're potentially using it when you're traveling across jurisdictions or trying to hide it in a particular part of your home or somebody else's home. It looks like a Game Boy. So people may not be apt to take that unless they're gamers, then they probably will take it. The price of these devices, as it shows there, you're looking at Canadian. I got the US price because, you know what,

everything I have is US because of my VPN. It starts at 55 USD, and that is for the full wraparound Stealth Boy. Or, yeah, and I didn't get the price for the other one, but it starts at 55 USD. And legal notice is that these devices are not endorsed or licensed by Nintendo so don't think that Nintendo authorizes

this but who fucking cares and it doesn't make this device into a fully functioning Game Boy or Game Boy Color so it just is a shell to make it look like that. I find this thing rather cool especially for those who like the OPSEC type of thing and it's just another option out there for people if they want to do something i i'm not going to use it i don't have

a queue but i just like these stories i like seeing people try to repurpose uh their devices at least put a skin on it or a shell in it to make it look like something else you got to do something like that make it a tv remote as said, that's a fucking good one. An old style TV. No one wants to steal those. Yeah. I bought a crypto cloaks, um, a cold card case.

Uh, it must've been five years ago now, maybe, maybe longer. Uh, I really, I really liked the stuff that Rick makes. He makes some good,

some good shit for Bitcoiners. Uh, it's a little expensive with the shipping to get here, but, it is fun to, to kind of like, you know, personalize your cold card.

But again, you know, that was a different stage of my Bitcoin journey than I'm at now. And I'll tell you that now I never see my cold card. You know, like this is I think that's probably the way it should be. I never see my keys. I never see my and it should be like that see my, and it should be like that. So yes, cool. Great vanity project. And again,

like Bitcoiners are always doing cool stuff. That's what Bitcoiners do or net producers and smart people. And we have skills and talents and drive and motivation to do these things. It's one of the things that makes Bitcoin special, but I, I would not be doing this. I would not be doing this. I agree.

Google makes a good point. If he says, make it look like a sex toy. I would not be doing this. I agree. Goof makes a good point. If he says make it look like a sex toy, nobody will touch it. Interesting. A VHS tape? Yeah. Or go even further, beta? Beta max. Cassette.

Big shiny tunes too, cassette. A track? Lots of different options out there. And nobody would... How could you fucking plug those things in? It's unusable. Completelyable for sure a thief will leave that behind especially we don't want to steal a track of dancing at the disco uh let's talk about there's some buzz going on in bitcoin twitter about the uh banking giant morgan stanley and they say it looks like they may be offering bitcoin through their e-trade service not sure

if you heard about this yeah yeah and they haven't yet decided if they're going to be offering it but it appears that the people on the inside of morgan stanley they're pondering this move to figure out what are the pros and cons and furthermore they're also waiting for trump to get sworn in because once he comes into power potentially new regulations may be put in place which could impact the rollout of or the going ahead of this e-trade bitcoin service now e-trade has about 5.2 million accounts which hold approximately 360 billion dollars in total of customer assets and this move would kind of give competition i'm guessing to something like robin hood but i would say robin hood might be a little bit further ahead in that it allows for

the withdrawal of bitcoin from what i gather i don't have a robin hood account so i can't verify this but i from what i reading they do allow that i don't know what's the america i'm going to take the minimum threshold whatever the is fuck it is. Who cares? But with this, the E-Trade, I'm not sure if they're going to be offering up that type of service where you could buy. And if you wanted to, to withdraw your Bitcoin, it could simply just be a paper Bitcoin type situation, which in my opinion, I think I think it will be. I think, yeah, that's the case. I'm not sure anybody could look at this as a good thing. Yeah, it will help number go up.

It will expose more people, more customers, retail to Bitcoin. But the reality is this isn't what we want. We don't want somebody to buy Bitcoin and hold it on for them. To me, it does not make sense. The Robinhood way, giving the option to at least withdraw, I prefer that in comparison could in comparison i prefer bull bitcoin to be perfectly honest that like not custodial but um i think robinhood at least is a step in the right direction uh this whole e-trade stuff a lot of people are saying good

things or talking what they're saying good things because it's like another signpost great but i think when i look at e-trade, I see a company that's famous, at least in my mind, Len, for great Super Bowl commercials they did 10 years ago. They still, I don't think, are the company that a lot of millennials use for their stock accounts. Just in the research that I've done, you need, I think, $500 minimum to have an E-Trade core trading account. So the likelihood that you're going to buy Bitcoin and that's the reason you're opening the account, is a suggestion here that you're going to have all these, the AUM on the E-Trade platform now exposed to potential avenues for Bitcoin. They could already buy the ETF,

the ETF buys. They could already buy the ETF. The ETF buys. They could already buy MicroStrategy. MicroStrategy buys. I don't think you're going to get a lot of new Bitcoin interest through this. I do like that they're being forced to offer it, right? That is good, or at least considering offering it. But I don't think you're going to see a lot of new money interest coming in. It doesn't move the needle, I don't think. It doesn't make sense that something like this would interest coming in. Just, it doesn't make, it doesn't, it doesn't move the needle. I don't think it doesn't make sense that something like this would move the

needle. So I just, you know, cool. Great. Another, another good sign. But overall, I'm just kind of lukewarm, you know, probably you are too if I had to guess. I wanted to say I'm lukewarm. It's just, just Luke. No, not even that. I'm not AI. Remember we talked about the new requirements for the IRS that they wanted to impose on, at least for US residents who hold and buy whatever was their Bitcoin.

Well, the idea has been temporarily shelved until at least January 1st, 2026. Sorry, 2020. Yeah, 2026. So the new reporting requirements that were supposed to take place a couple of days ago, you don't have to do that as of right now. And the delay is to allow for exchanges to catch up on the new exchanges because these are quite a bit of new things that have to be reported upon. And exchanges, unfortunately, even though they had a little bit of a heads up several months, in fact, to start doing this, they haven't done their homework. So it's been delayed, and it is reported that it's not just because they've been stalling.

They say the exchanges lack the necessary infrastructure to support specific identification methods. Of course. Did we not talk about this last week, how this was like a sign that these guys didn't understand what they were asking? We talked about it. Do mention maybe we i thought we did or maybe we talked about it offline that they they just don't oh no we talked about it offline in the canadian context that like asking for this is a sign that lawmakers don't understand the space don't understand bitcoin don't understand the the sovereignty that it gives you as a bitcoin user and that just the impossibility of getting this information at an accurate level it's just it's way too hard way too dense there's way too much of it and people just won't report they won't

report and uh you know as we go on, you're seeing more and more different privacy tools coming to view. Like Bull Bitcoin, you said a pay join implementation, right? Now it's another obfuscation and transactions. It's more and more and it's disintermediated and it's truly decentralized, not like Whirlpool, not like these other implementations that have gotten people in jail and had them take unscheduled meetings at airport boarding gates over the last few years. This is going to continue. And governments have to...

And one thing I think that maybe, maybe Trump, I don't know if it's Donald, Barron, Eric, Donald Jr., one of the Trumps seems to understand that Bitcoin is not going away and that governments have to either play ball and get involved. Not necessarily support, not necessarily usurp their own dollar power, but get involved or get left behind by people who are really serious about this and getting better at using it privately. So status quo for the time being with respect to if you're an u.s resident here too by the way i should mention that we we kind of talked about it in passing last week i don't know if anyone thought that we you know you don't have to report your buys here in canada yet that legislation probably will also die on the vine actually but um for now it's status quo yeah and you know this would really impact though it's the people that actively do

something with your bitcoin i think it's still a nuisance if these came into effect and you had to do this type of reporting in either canada or united states yeah but less so if you're just simply buying and holding it's the people that trade their bitcoin or do something with your bitcoin i think they're the ones that are likely to really feel the impact of that and even beyond that you can go further people that deal with shit coins is people aren't holding shit coins for the long run that they're actively trading it trying to increase their wealth or their bitcoin stack or something so that's where it could be really a headache for those group of people out there totally yeah but

either way i just want to i want to add something here that I didn't say at the top of the show. It's January. I have probably had in the last two weeks, 50 beers, maybe more. And, uh, I, I am starting a dry January telegram group. It's on my Twitter profile. A couple of guys are already in there. I forgot to mention at the beginning of the show, even if you're not going full dry January, even if you want to stop smoking or start working out or whatever i'm gonna be in that fucking group every day i'm gonna be in your ass every day okay no ditty trying to get you straight for january the same way i'm trying to get straight for january no booze that's right like seven a day well i wasn't probably probably not 50 but like too many for me there was a few days there where i had like four beers every day like four times in a row which is too many for me

so would julian be impressed by that oh no oh my god that's a breakfast that's breakfast for julian and the boys there at sunnyvale even like even i sometimes joke with my wife that i'm drinking too much and she's like you have no idea how much like how little you drink and you have no idea how much drinking too much actually looks like maybe she knows i don't know but um as long as i'm you know as long as i'm not uh my liver's not turning into a raisin i'm probably fine but still i do want to do dry january i always say i'm going to do it and i get close most of the time but uh i can't do it this year and if you want to do it too the thing for say I'm going to do it and I get close most of the time, but, uh, I can do it this year.

And if you want to do it too, the thing for telegram is on my Twitter page. So go there and let's do it together. Freedom 35. Joey. Like we boom, does this thing. Um,

Bitcoin turned 60 years old on January 3rd. Nice driver's license. They get in the G one this, this week. It can now do that. It could finally drive. It has the ability to do that the genesis block was created january 3rd 2000 and um 2009 right so like it's 16 years old 50 bitcoin was awarded uh to satoshi at the time when the block the genesis block was

created and keep in mind that the the genesis block is something that's special that cannot be spent and it's the way that it's hardcoded hardcoded into bitcoin software so it's not like this is a pre-mine or whatever it's just you needed a point of origin and that is it and then everything basically leads to that block itself i think it's a good time at least on january 3rd it was a good time to take a step back and to look what happened with Bitcoin in the last 16 years, right? Like a lot has transpired. And, you know, we had pizza we had that was transacted. That was one of the first ever transactions that was reported in Bitcoin. The marketplace Silk Road came into effect, which showed that there's Bitcoin

could be used as a medium of exchange. The infighting from the block size, you had some people that wanted to increase it and other people didn't. Eventually, we ended up on Segwit. And so you had that war going on. You had these attacks. Forks and the forks of forks and then litigation that comes along with it and governments attacking it banning mining and all that stuff and remember we were also laughed at by wall street elites and

also publicly traded companies and sure enough they started offering these services to offer buying bitcoin on some of these platforms and then publicly traded companies started buying bitcoin spot etfs were approved this past year leverage bitcoin etfs now exist so for the dgens out there even have a soon-to-be president talking about bitcoin at bitcoin conferences it's been an absolutely crazy ride and the market cap as of yesterday was slightly under two trillion i don't know if it surpassed two trillion that were 102.4k as they speak according to my block clock but it just goes to show you in the 16 years a lot has happened and it was done without a pr firm without a marketing budget

without nothing with nothing with nothing yeah it's simply just a grassroots effort and people this could have failed many times along the way but but it hasn't. And we should be thankful for all the people that worked on it to get to this point. And it's, it's been a fun year, a fun bunch of years for that. I've been in a, people have been in for much longer than I have.

And moving forward, it's going to be a lot more fun, I think. So just strap on in and enjoy the ride. A hundred and two K, maybe 1.2 million and not too distant future. But at that point, what the fuck's use of US dollars probably worthless? Well, close to worthless at that point. But

either way, what other what other story is there like this? About anything? Like, let's say it's not monetary, you know, a monetary good or it's not a an economic good. What other story is there that has absorbed or other like product or whatever you want to call this thing that has absorbed this much criticism, this much attack, dealt with this much litigation

with no official flag bearer, no organization to defend it, no treasury to fund its growth, to fund its publicity, nothing. There's nothing that compares to this. And that's why I think when people talk about Bitcoin and say, yeah, I don't really understand it. I think it's a bit of a scam. I think it's this, I think it's that. The reason you don't understand it is one, because you haven't done the research, but two, it's just so novel even today to see something like this that's managed to withstand this much of a barrage over this long. So to me, it's not just that, though the network hasn't gone down, it's very secure, it's not going to get hacked. It's that the most powerful

entities on the planet spent almost two decades trying to take it down and eventually bent the knee one by one. We're about to get the biggest knee bend ever with the US reserve. Even if they say, we're just not going to sell the Bitcoin we confiscated, that is a significant, significant bending of the knee. That might be the first time in history that the monetary hegemon decided they were going to bend to another quote unquote currency product. The first time ever. That's the kind of thing that ends empires and maybe it'll end that empire too. I don't know. But to willfully do it, that's incredible stuff, man. Big kudos to everyone involved in bitcoin some of these ogs like

pierre and bitstein um you know trace mayor who showed up at sailor's party you know the guy hasn't been seen for seven years five years something like that since he's shilled nimble wimble at some conference um guys like peter todd yeah i even think like marty and matt like you know len fuck people in in 10 years might be saying that you and me were around at the beginning right like the further you get the more you're just like holy shit there was people who were like trying to that you know the analogy i always make they were trying to beat a path to the campfire so early when there was still like rabid wildlife and uncontacted tribes along the way. And now it's just like, you know, tiki torches and a s'more waiting for you

at the campfire. Couldn't have done it without these guys. Couldn't have done it without all you guys and without all the podcasts and all the commentary and the just unwillingness, the unrelenting attitude that everyone in Bitcoin has. Just can't say enough about it. And it's the thing, when you go to stuff like conferences and meetups, and I've said this to Len privately, I don't know if I've ever said it on the air, but I fucking hate going to meetups. I hate the idea of like going somewhere after work and like entertaining,

like trying to entertain myself. And sometimes I don't like all the people there. But when I go to the Bitcoin stuff, it's totally different. I get there and I'm like, this is energizing. It's all people who are like-minded. They see things the same way I see them. Without being homogenous, right? It's not that everyone has the same beige opinion.

It's that everyone is looking at things and seeing the same neon colors that I am. And no one is worried about, oh, I don't want to offend this guy. Oh, this idea might be too radical. Or, oh, this might be too unique a thing to say. I don't want to say it here. That crowd doesn't think like that. Those are moments when everyone is engaged. Everyone is trying to do something. Everyone leaves motivated and refreshed. That's so rare, just like everything else in bitcoin we are in rare air with rare people and you know i see one smart fellow in the chat we're still early man we are

very early don't get discouraged these little price moves man i see people talking about bitcoin we were 91k last and it was boring at 91 can you imagine in 2017 len when we were fucking cruising at 3000 for like eight months, we would be saying seven years later, we're bored at 91. Can you imagine what the lunch table would have looked like if we had made that claim? It was wild enough already telling people it would go back to 20,000. Now it's at 100. It's just the persistence and resilience that everyone in Bitcoin has shown is being

rewarded. And eventually the naysayers and doubters will have no choice but to admit that you were right. I don't want to go on the, you weren't lucky, you were right rant again. But truly, that is what happened here against all odds, both in terms of just network survival and in your own personal story, your own personal journey, people telling you that this thing was a scam or a ponzi or greater fool theory case study you know we got it right and uh you rewarded for it so congratulations here's to another 16 years right cheers well we weren't awarded because we didn't get to go to the 100k party how come we didn't get to i don't want to

go anywhere we're not pod conf approved that's why that was only pod i was only podconf approved uh what'd you think of that that whole i'll be honest joke i will admit this i didn't invest a nanosecond into what listening or watching any uh yeah they streamed it i didn't know they streamed it i saw that with some other podcasts like do you need a fucking stream of your party i have no people liked it we should ask dd's been to that guy's house so we should just ask him like what is it like there and also uh i don't know i just think it's like like trace mayor the trace mayor sighting made me feel something that guy is a great bitcoiner or was for a long time. Some of the best messaging, some of the most intense messaging around Bitcoin that the protocol has ever seen. But then he tried to scam people. Him and Jameson Lopp was doing it too. Another guy who was a great

Bitcoiner, but tried to scam people with Mimblewimble. Tried to say like, this is a better token. We might be able to do something here that Bitcoin can't do. You guys fucking got that wrong and didn't pay much of a price for it at all. And Trace Mayer is now getting invited to Sailor's fucking yacht party, New Year's Eve. Okay. If that's the party you want to go to, cool. Personally, me, now especially, I want to spend New Year's with my wife and daughter. And I did that. And I want to spend it with my family and friends, not people like are ostensibly trying to get famous, want to dress up. Also, I want to echo something I heard on Marty's show. Bitcoiners pants wrong size shirt no tie it's a fucking yeah there's a yacht in the yard dress like you know how to dress for a formal event or start doing some i have i'd fall in that category

because i have no idea what if you went to a fucking wedding you would look you would look at a place you would be wearing a proper suit. Of course you wouldn't. But I have experienced attending weddings. I, as a true commoner have zero experience going to a yacht and understanding what is the dress code. And is I, I don't fuck it. I would guess.

Just fucking Google it on the invitation. It doesn't say black. It doesn't say formal. Just fucking Google it. No. And also like, again, all these people who ostensibly are very wealthy, you don't have a tailor. doesn't say black it doesn't say formal just fucking google it no and also like again all these people who ostensibly are very wealthy you don't have a tailor you can't get the fucking

pants to fit what you buy them off the rack you're short bitcoin if you're fucking yeah you're gonna be short bitcoin maybe but you're gonna be short pants too if you don't go to a proper fucking tailor and you're gonna look insane in these fucking photos. Anyway, these people into Bitcoin for not for the reasons they're in there for monetary reasons. That's basically it. The let's talk about the one last topic because I want to discuss what's going on in Canadian politics. I want to get some time to that FDIC and operation checkpoint 2.0 choke

points. Sorry. Choke point. Yeah. I don't know. It's I, And Operation Chokepoint 2.0 is, I find this to be rather interesting because it was recently discovered through some redacted documents that the Biden administration was in fact reviving something called the Operation Chokepoint with Operation Chokepoint 2.0. And specifically targeting those in the bitcoin industry and the fdic recently released these documents in outlining their initiative and they've been engaging with banking regulators and they were trying to address the risks associated with bitcoin and they were saying

it was necessary to protect consumers and the financial system from illicit activities such as money laundering and fraud that may be facilitated by Bitcoin. I love it. So Bitcoin is the root of these problems. This shit never happens with the US dollar. But Bitcoin is it. But really, come on, let's be honest. This stuff is truly overreach by them the ftse and it impacted the economic growth and the development of some of these companies especially the smaller ones out there that didn't have the ability to

deal with this type of attack and i'll be honest i thought this really was not the case no i've been proven wrong i thought that operation chokepoint 2.0 really wasn't is i didn't actively see it i didn't see people actively stop getting on board. We've heard about a few things, and it sucked. But to see this, this type of document, and heavily redacted at that, why would they redact it that heavily? There is something more to it, and that's pretty fucked up. And it's another reason, I think, that shows that we are winning.

And let's continue what we're doing. Totally. I'll just note one thing. The Chokepoint 2.0, the big issue, and I want to give Matt Walsh from Castle Island Ventures credit for this. Him and Nick Carter pointed out early on in Chokepoint that even though there was nothing official being asked of these banks. There was tons of under the table, behind the scenes, jockeying by government officials, principally Liz Warren and her people, telling these banks that were either banking crypto companies, holding capital for crypto companies, giving loans to crypto companies, you name it.

Nothing official from either the FDIC or Biden government or any of the three-letter agencies saying, look, this is new legislation we're passing. You can no longer bank these guys, or you have to have greater capital on hand for loans, or the LTVs have to have greater capital on hand for loans or the LTVs have to be extended for protection or over volatility or whatever. Nothing official. The thing that really should piss you off is that it was all done under the table with phone calls and nudges and saying, look, you don't have to stop banking these guys, but if you don't, we're going to really dig into your operation. And I think that we're probably going to find problems because of XYZ.

That's mafia type stuff, right? The US government is more illegitimate than it's ever been. And stuff like this is the reason why. People point to, oh, the COVID lockdowns and blah, blah, blah. Those were bad too, for sure. But that was right out in front of you, right? They told you that was going to be the case. You were able to fight it. You were able to organize against it. You were able to vote because you knew what things were shaping up to be. But this is all behind the scenes. This is mob behavior. And you can't fix that. And the banks, by the way, now slowly but surely going public, now that they feel emboldened by the change in regime, by some of the other documents that have been leaked, going public and saying, yeah, we were subjected to this too. Here's the communication we received. Nothing about legislation, no legal violations, but we're going to keep an eye on you if you

don't stop banking these guys. We're going to keep an eye on you if you don't stop giving them loans. That's fucked up. But that's exactly what you expect, unfortunately, from the Biden administration. I expect Trump at the very least to be much more friendly to these businesses, as he should be. They're American entrepreneurs in a lot of cases who are trying to start businesses around an emerging asset class. You can say what you want about crypto broadly, but that's an emerging asset class, too, for some people. I don't think it's going to do as well as Bitcoin. I don't think it's going to be as successful. I don't think it's decentralized and censorship resistant and all bitcoin i don't think it's going to be as successful i don't think it's decentralized and and you know censorship resistant all these

things but their business is around that all the same and they should be able to operate those businesses in the united states without fear of uh off the books reprimand from public officials what the fuck is that that's zimbabwe stuff fuck these these people gotta go they can't go soon enough i think that's it for our bitcoin stuff joy we could uh transition to the rest of the news there's some i think we'll be going a little longer than usual that side so we'll come let's see yeah let's let's cut it let's cut it now and we'll uh we'll see how we do if you're on audio stay put if you're on video come i got that backwards from video stay put if you can hear my voice right now this moment and you can see me on Twitter or YouTube or anywhere else, stay put. If you're on audio,

I'll release the rest of the episode tomorrow. Until next time, take care of yourselves. And don't be a cock.