The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP - Bitcoin's Destiny w/ Sly, R. Goomba

Episode Date: November 7, 2024

FRIENDS AND ENEMIES We're thrilled to welcome Sly, R. Goomba (https://x.com/SlyGoomba) to the show for a discussion about stacking sats, dating, video games, and so much more. Goomba has his very own bitcoin Podcast called 'Why Bitcoin?' - https://fountain.fm/show/u39VNAOrV8Jt.... From a couple of Canucks who like to talk about how Bitcoin will impact Canada. #Bitcoin #BTC #Economy 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 - ⁠⁠https://easydns.com/⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. D-Central Technologies - https://d-central.tech/ Your home for all things mining! Whether you need a new unit, a unit repaired, some support with software, or you want to start your own wife-friendly home mining operation, the guys at D-Central Tech are ready to help. With industry leading knowledge and expertise, let the D-Central team help you get started mining the hardest money on Earth.

Friends and enemies, welcome to yet another edition of the Mighty CBP on the part of the CBP Media Network. And I'm Lenda Legend, and today I'm going to be talking to Sly Goomba. And before we go any further to talk to him, I got a few things I got to just knock off my list of things to do. Number one, very quick, great day for Bitcoin. We'll talk about that today. But, you know, like you you have some bitcoin you want to start spending it where could you spend it one place you could do you go easy dns and you could then with that because they accept bitcoin over there are very good that they do you could buy domains over there say you want to buy a domain or your renewal domain move a domain over this is the

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because they offer protection, privacy. Again, like I said, you could pay with Bitcoin. Lots of phishing going on these days. So if you are going to spin up a website, you want to make sure you are protected. EZDNS offers something called DomainSure, and they enable this real-time detection to see if there's any phishing attacks going on, and it can nab that in real time, take that stuff down. So any lookalike domains, they can nail those things to the cross. You're in good hands when you're dealing with them. EZDNS has been in business for decades, since the the late 90s a lot of similar companies have come and gone and the reason

why easy dns remains standing is because the level of service they provide for us they're the best and for you you'll notice that they're the best to market team they'll guide you through the process if you need any help whatsoever so check them out easy dns.com and mention our from our promo code cbp media with that 50 will be taken off your initial purchase you might as well do a massive one at the get-go big purchase second sponsor we have bull bitcoin look the price of bitcoin behind me is showing 65 000 and change we haven't seen this number before today actually we did briefly okay but at least let's pretend we have it so you know i mean people

want to start selling their bitcoin and they could do that using bull bitcoin you could buy bitcoin there's still people out there don't want to buy i'm one of them and i'm always in a buying mood i'm never in a selling mood but you could do with on-chain you could do lightning purchases last i checked the fees are still really really low so i would suggest doing on-chain buys other things you could do with your bitcoin with the price of Bitcoin being so high, you could start spending it in two different ways. Number one, you could buy gift cards and start spending your Bitcoin in the real world

because you can't just go to, say, Starbucks and spend your Bitcoin. You've got to have something in between to make that purchase worthwhile. And pull Bitcoin, and, well, they'll sell you the gift card, and you could use your Bitcoin to buy that and start spending your Bitcoin like that. Another thing, you could start paying your bills, which is really cool because let's be honest, all of us have bills to pay. Hopefully we're paying them on time. And if we are or not, either way, you could pay these bills with your Bitcoin using Bull Bitcoin.

Check them out. Open an account. If you use our link below and provide the necessary information, you get $21 added to your account. No questions asked. Last, we got Decentral Tech. Mining is a big thing, especially for plebs. We have the BIDX. We have the CBP-branded BIDX coming out in the not-too-distant future. It should be being shipped this month, November, from what I gather. Look, we got to take this this mining initiative as plebs we got

to do it ourselves and which means we have to get stuff like bid axis or maybe even get something like an s9 or s19 where you could actually mine from home even using 110 volts and that way you could heat your home there's lots of different options that you could do quietly efficiently and you won't anger your family or if you you want to anger your family, you can go the full route and go ahead and get the one that hooks up at 240 and go nuts. Either way, Decentral Tech has you covered. Check them out. They have lots of different options for you if you want to set up

your home mining system. If it's going to be a single, multiple units, you want to fill your garage with them. Either way, check them out. They're wonderful, and they're Canadian-based. So if you're in Canada, check them out they'll be able to hook you up so with that i want to bring on mr goomba to the channel hello goomba how are you what's going on lan excited to uh have a chat with you we've had some back and forth on twitter for a long time

big fan of your show you're in joe's show so it, so it'll be good to have a little Bitcoin chat here. Thanks for having me on. Until this time, I've been dealing with this Goomba. This is the only Goomba I've been talking to. Now I'm actually talking to you, the legitimate Goomba, rather than this stuffy here, which I don't want to downplay. I love the stuffy. My daughter's.

Beautiful. I appreciate you coming on the show. We'll talk about Bitcoin and a little bit else. You saw what happened with the pump price of Bitcoin. Are you excited with the recent development with Bitcoin and Trump? I haven't seen whatever's happened today, but last night I was up partying with everybody else. I'm a Bitcoin idiot, so I stack all the time.

I'll buy it when it's cheap or when it's expensive and I do something called ass stacking so if I see an all time high I'll just buy a little bit so that way whenever I talk to anybody about Bitcoin ever they're going to be like oh well it's so expensive

should I buy it? It's like fuck I'm still buying man I just bought some at the top I'll be buying the top forever like that other fella says there. So it's all good. Keep doing that. It's the way to go. And if you're going to DCA or do anything remotely close to that, I'd always recommend people to do some UTXO consolidations,

especially if the fees are cheap like they are right now. It only makes sense because in the future when fees go up and you have a haphazard way of dealing with your UTXOs right now, it may be very costly for you to start moving your bitcoin i'm not sure if you're big on that if you're big on doing the consolidation stuff but i know over here we are so have you consolidated your utxos i consolidate all the time man like um i usually like my usual buys i buy you know standardly every two, and it's a somewhat large amount.

And then I'll get a couple of those going after a few months, and then I'll just slam it all together. But when I do stupid shit like buying $5 at a time, and then you look at that. That's what I did yesterday. I had $34 in my bank account. And I was like, fuck it, I'm buying some sass. Oh, shit. I don't know if I'm allowed to swear on here. I'll try and watch that. Oh, you can fucking swear all you want, brother. Okay, fuck it. I'm buying some stats. Oh, shit. I don't know. I don't know if I'm allowed to swear on here. I'll try and watch that.

Oh, you can fucking swear all you want, brother. You can fucking swear. Okay, right on. So I had $34. I'm like, I'm ass-stacking. This is insane. So I bought it. And then I looked.

And like in Canadian dollars, dude, it's not even 30,000 stats anymore. $34 does not get you 30,000 stats. That's insane. So yeah, luckily fees are low. I just shuffled it over and that's it. I have a, what I do is I have a few wallets and I'll just take it off, move it to one, take it all and move it to another. It's really easy. The thing I think about consolidation is just like people make it sound like it's some crazy idea or something super technical. It's literally

just take balance, full balance, move to a new wallet. That's it. And it's that easy. So yeah, if anybody's not doing that, you definitely should. I guess you're using something like Sparrow to do that. I use blue wallet, man. Simple. I use blue wallet. I have a hardware wallet. I don't like shilling any products. So I'm not going to say what i have but uh yeah i use blue wallet on my phone i have the bull bitcoin wallet on my phone i have a handful of lightning wallets on my phone sometimes i buy on lightning from bitcoin whale and then i'll have some stats on lightning i'll have some stats on a handful of wallets and then yeah you just move them around when you need to move them around now i want to talk about your podcast which seems to be on

hiatus for some reason why bitcoin podcast tell me about this podcast i know joey's been on it years ago but i sure you're yeah what's up with the why is this on hiatus so my podcast is the best bitcoin podcast that there's that there I'm a big fan of it. I listen to it all the time. Anybody that's listening to this that wants some absolute psychotic Bitcoin or chat, check out my show. But yeah, it went on hiatus, man. So I had a friend that was my co-host, like you and Joey, our little tag team duo there. I had my buddy Doug that was doing it with me for a while.

Then he wanted to take a step back back focus on family and just everything else and so i did it by myself for a while uh which was really nice got some great guests on and then my life has taken a bit of a turn going through uh some not ideal family situations so that kind of took over. And then Bitcoin just kind of kept doing what Bitcoin was doing. And like right now it's a five o'clock my time. I've been working like a dog all day and it's hard, man. Like you probably know this. If you want to, if you want to produce a podcast that's quality, you got to put in the time you got to put in the effort.

And I could see that my quality was uh slacking and i'm just like i'm not going to put out shit so that just for the sake of putting out shit so uh hopefully here within the next couple weeks or months i'll get it whipped back up i got i got some fire guests lined up that were supposed to come on and then i just had to postpone so it's been my last last episode was April, the halving. I tried to get a handful of Bitcoin podcasters to do what I was going to call episode orange or project orange, where podcasters just go on

and kind of just do it by yourself and talk to your audience as if you were talking to somebody brand new to Bitcoin and just give them a standardized orange bill. And that's my most recent episode. I really like what I put together. I've had good and bad comments from it, depending on how the person feels about Bitcoin. But I think it's a cool idea because, you know, the thing is the halving is here, right?

We're in 3.125 era the pumps are beginning and we know for sure that we're going to get the new crew of people soon and they're going to be looking for the signal to figure out what's going on and i want somebody i i did you know what i want len i want it to be so fucking easy for somebody to become a bitpointer that they have no excuse not to because when when i came in at the end of 2020 i was looking at podcasts i'm like i listened to everything and it seems pretty straightforward looking back it was like four days in a row no sleep of me like you know eyes glazed over just going balls to the wall listening to podcasts but now we've

gotten to a point and i want this to keep continuing where somebody comes in new to bitcoin says hmm what's bitcoin what is this and then like in two hours they're like oh shit i'm all in let's fucking go fuck see ya you know and it's getting easier and easier and easier given the content that's coming out there's more and more good podcasts coming out people are getting more and more succinct at how they want to say things and it's uh it's going to be good, man. Bitcoin wins. I'm wondering how many of those folks that just want to get into Bitcoin are buying an ETF.

Because that seems to be, if you want exposure to the price of Bitcoin, that's the path of least resistance. Now, it doesn't help you become a Bitcoiner or doesn't protect you from any problems moving forward should there be a collapse of the fiat system. But it seems like that's the one that people might choose as the least resistance. What do you think about that? You're asking me about the ETFs? People are going to be buying them, it seems like.

I don't agree with them. I understand the purpose of them, but it seems like that's going to be the first way for people to come in. They'll look at that, they'll hear from a friend or and they'll just buy the etf and get exposure that way so yeah they're gonna get fucking wrecked they're gonna get wrecked it's the stupidest shit you can do there is bitcoin the bitcoin network what is its purpose it's money that cannot be stolen from you full stop if you buy anything else it can be stolen from you. Full stop. If you buy anything else, it can be stolen from you. If you buy an ETF, somebody else is holding it. Somebody else can control it. It defeats the

fucking purpose. Yeah, if people are buying ETFs, they're fucking stupid. That's my opinion. Bitcoin is so much more than its number go up. Number is going to go up regardless because fiat sales over time, so the question is what do you want to buy you want to buy bitcoin why because it can't be stolen from you because of you know 21 million because of absolute scarcity because all the fucking buzzwords of bitcoin are saying man buy bitcoin understand how it works use it on the bitcoin network fuck around with the lightning network a little bit if you want to but if you're using custodial lightning then same shit as an etf buy bitcoin it's so simple download fucking blue wallet full bitcoin wallet it's so easy and then just buy it from any given exchange or if you have a friend

that mind there's more and more people that are going to come out you know there's more bitcoiners if somebody came up to me that's a new bitcoin and said, Hey, can I just buy you some for me? I'd be like, yes, sure. Give me cash. I'll send you stats. No problem. And that's going to happen more and more and more and more.

Right. If you buy ETF, what are you doing? You're still in the fiat system. So what? Like who gives a fuck? 100%. And the exposure you get is just in fiat dollars. It's not like you're getting Bitcoin in return. You can't redeem your Bitcoin.

Well, look at GBTC, man. I had Foss on my show a while back. It was when GB... What is it? Was it GBTC? Am I saying that right? Is that the Grayscale Trust? Yeah, that's the one. Yeah, yeah, yeah. So Foss was going on. He's like, oh, you can buy Bitcoin

at a discount because it's cheaper if you buy GBTC. i'm like oh that's interesting you're not buying bitcoin and then look what happens it fucking blows up and people get wrecked so uh everything fails around bitcoin bitcoin just keeps marching forward buy real sats on the real bitcoin network have control of your keys and then that's it. I'm pretty simple in that way. That's the way I am 100% with you. The reality is if you're going to store Bitcoin, it boils down to either 12 or 24 words.

That's really all it is. I'm old enough to remember we had phone numbers in our head when we used to call our friends, our work, our home, wherever. We had a bunch of numbers that we knew we could easily just rhyme them off um like like nothing and same thing with words that could be the same thing those 12 words or 24 words can be is easily remembered like telephone numbers in the past and if you put a level of importance which you should

for these type of words you will easily remember it and you will not forget it and you know you might not want to play a rhyme or you may want to do something every day to make sure that you don't forget it but it's certainly it's possible it's not the end of the world and considering how much wealth you could store in bitcoin it makes so much sense to do so have you actually memorized have you memorized yours i'll be honest i haven't memorized mine i've tried to a few times but I have it locked up in a safe place where nobody knows where it is. I got it on steel so I can go grab it if I need be,

but it's not in my head, but I'm also not good with memorization. I know that's a lame excuse. I got to get my shit together, but have you done that? Like your main stack, you could just rhyme it off and open it up whenever you want.

If you were taken off to a far away place. I have multiple wall and only one of them do I have is memorized. I can't do anything more. It took a long time to get to this, but I have that. It's there. So I could easily recall it if need be. So, yeah. And let's be honest, I'm just regular Joe below.

And if I could remember this stuff, anybody could. And 12 words is only half of 24 so is that difficult to remember 12 words i would say no and anybody should do it and like you say i mean there's lots of different options you could do to easily on board like getting blue wallet or stuff like that people should eventually transition to something more stable, secure. Blue Wallet is great. What do you have against Blue Wallet? It's a hot wallet. It's on your phone. Yeah, yeah, yeah, yeah.

Yeah, I mean, it's great and all, but I wouldn't store a vast amount of wealth in there. That was just my personal opinion. No, yeah, it's just an easy onboarding thing. Yeah, and all the more power. $100, $200, whatever. But the broken

ruler is saying that you're a Ledger Max-y things. Yeah, fuck you, buddy. No, I'm not. Yeah, that was Ledger. Okay, I'll go back. If somebody has nothing, they're leaving on an exchange, which a lot of people are, and we'll touch on that in a second. I think ledger is a better option than leaving on an exchange, but it's still just, you know, a step in the right direction.

If you're going to go that direction, run the extra mile and get something better than a ledger. That's my opinion. But with respect to people leaving on the exchange, I was talking today with a bunch of folks and I was hypothesizing why the fees are so low. Look, the price of Bitcoin is high. We have Trump that's elected. We have so much interest in Bitcoin. It's being talked about in mainstream media. When you look at any news station, they bring up the price of Bitcoin.

But yet, even with all this interest, the fees are low and it just doesn't make sense to me. But somebody clued in, the reason why fees are so low is that people may be buying, but they're not taking it off the exchange. They're just leaving it on there. Do you agree with that? I mean, I don't know, man.

I think that's the fear that people have. It's like me and you said, we buy what? Once every two weeks, roughly, except for those random smash buys. So I'm clogging up the network once every two weeks. That's my main transaction. So I don't need to use the network that often. And the majority of Bitcoin users are probably doing that fact of the matter

is not very many people are using bitcoin 2 uh as a medium of exchange right like not very many people are just using it to buy shit and those that are i think for the most part are using lightning anyways so i i don't know i think we can see fees low for a long long long time i think i'm on my own in that i think everybody's really really scared. Oh, it's going to go up crazy once nation states start moving stats around. But like, if you look at how, what is it, swift? When you look at the different countries that settle with each other,

they only do it every two weeks. So I don't know, maybe I'm ignorant, but I feel like there's not that many transactions that need to happen that are going to be worth multi-million or multi-billion dollar transactions it's like you do one every two weeks and then it costs you even if it costs you 100 stats per v-bite it's not a big deal right the problem is when it comes time and ever we know when we get to that point where you have large dollars large amount of bitcoin in terms of dollars moving from one place to another they're going to easily outbid anybody else if they want

to pay you know 10 000 sats per v-byte they can do that because they're sending a heck of a lot of bitcoin and by comparison that 10 000 not very much but for somebody like you and i that you know i'm not exactly sure how much bitcoin you have. I'm not going to ask. But if you are a whole coiner and you have a few coins to yourself, you start moving shit around a few times. And if it's very costly, it's going to really bite into your overall stack. So I'm looking at that. Somebody could easily outbid somebody else, and it won't make a world of difference to them just because of the amount of Bitcoin they have. Block space is scarce.

We're not there yet, but it's indeed scarce. We have to get better somehow at compressing the data on there. I'm not sure if it can be compressed any further, but just efficiencies I hope are found moving forward because if not, on-chain is going to be really expensive in a not-so-distant way. I'm on the opposite

side of the fence of you. It boils down to supply and demand, basic economics. If fees are high, people will not buy, and then fees go down. And then fees go down, and people use the network, and then fees go high. It's going to be a wave of up and down for the entirety of the Bitcoin life cycle, as you as a bitcoin you're gonna see like if i'm like you said when do you consolidate you consolidate when fees are low when are they low after they've been high for a while so you let people fuck around do their shit

with their high fees then they're going to be done it's not like eventually people run out of sats to make transactions and it seems pretty simple to me it's just supply and demand i mean if i look at the network and the fees are too high i just won't send a transaction it's that simple they're not going to be high forever because eventually the people that need to make the transactions are going to be done and then they'll be like okay i don't have to do anything for another two weeks and that's a time when it's high it's a good time and you should be losing lightning at that time in fact people should be going to lightning as much as possible lightning does have its issues let's you know it's not beat around the bush it's not a perfect solution but for right now it works pretty good until it doesn't and but i would suggest people, if they want to dive into it,

custodial lightning is, as you mentioned, is dog shit. If you can, it's difficult to do, but if you can run your own node, that's the way to do it. I mean, I'm not sure if you also have delved into that. Have you touched on running your own lightning node in the past? No, man, I haven't done that yet. I've tried pretty much every lightning wallet that's come out i got majorly jaded from moon wallet m-u-u-n that was all the rage back in the day right and

then all of a sudden fees went high and you know the mask came off it's like oh this is just on chain transactions you motherfuckers so once i realized that i was like okay this is stupid wallet of satoshi is custodial blink wallet is custodial I had a chat with Andrew Andrew begin on my show he's part of the blink wallet guy team and he kind of explained

to me why they think it works and you know what I'm kind of starting to fall on that line of if it's just 20 bucks here and there fuck it just use custodial because it works it's easy or just use cash i don't know man i'm so i go so back and forth with this shit because the the point the reason i'm in Bitcoin is because Bitcoin became easy to use. I hold my own stats on my own wallet.

It was fucking easy. I was too stupid in 2012. I was too stupid in 2014 and 2016. Now it's so easy. It's so easy to whip up your own Bitcoin wallet and hold your own stats. I think we might just still be early to custodial lightning, or if some other sort of layer comes out, maybe that is better than lightning. I can't foresee that happening, but it's an option, right? We were just early, like even Phoenix.

I tried Phoenix for a while. It still doesn't really work properly. You got to set up channels. You got to send a certain amount of stats. So it's just early you know the like you the the guys that are smart that can set up their own nodes they're going to benefit from it because they're they're able to use it and they know how to do it and the idiots like me that are just waiting for shit to get so simple that we barely have to think and yet still we get to use this awesome uh money network

we'll just uh we'll just wait till it gets easier and it's not a complete necessity lightning yet like uh bitcoin is a necessity for everyone the money is failing you need bitcoin lightning is just a way to transfer stats quickly cheaply easily and uh we don't need that yet it's cool as fuck like don't get me wrong i enjoy using it but it's not a need it's still a want bitcoin is a need like you need you need to have bitcoin because your local currency is failing yeah and that functions fine as a store of value but then when you have to go to the medium of exchange then it would become problematic to constantly use on chain for that the amount of

people using bitcoin right now that are look let's go even further back the amount of people that have got bitcoin that have bought it and you just are huddling it it's a small percentage of the overall population i'm sure i would guess maybe one out of a hundred people maybe in canada it's way less than that man yeah it It's got to be way less. And so once things ramp up and people start buying, hodling, and maybe you can start transacting, that on-chain is just going to go

absolutely bonkers. That's when the competition comes in, as you mentioned, and you find a time to spend it when it's cheap, but some people just don't have the opportunity to wait. They have to spend right away. They have to pay a bill. They have to buy something. That's cheap but some people just don't have the opportunity to wait they have to spend right away they have to pay a bill they have to buy something that's got to leave your wallet somehow and lightning that's where hopefully it will or some alternative to it will pick up the tabs like lightning one thing about it it you know the fact that it works

when it works there's not much development going on in it comparatively to I find other layer twos because other layer twos especially the other ones are all custodial there's an incentive there's a financial incentive for them to to develop it lightning there is

no financial incentive what are you going to get from lightning routing sats you get fuck off on that so lightning it needs it needs development but there's not much there's not much incentive incentive too bad that's the reality of it yeah but the fact of the matter isn't yeah no go ahead well i just think this is kind of a controversial take but the fact of the matter is is that most people still accept canadian dollars or u.s dollars so if you need to buy something and you're an all-in bitcoin you're like me you can just ask the person what kind of money they use and if they say i only take canadian dollars you can just

very easily take your real money turn it into their shitty currency and give it to them and it functions fine that way and in terms of orange pilling friends and family what's your uh what's your record like are you pretty good at that or what's my record on orange filling i'm the worst orange filler in the world man i made come on you have years of experience to tap into now you could have perfected your methods right yeah the question you have to ask yourself is why are you orange filling right so when i first got into bitcoin i was insane i thought the world was going to explode i needed to warn everybody watch out for the coming apocalypse

and uh that didn't work out too well and the apocalypse didn't really happen i mean you know subjective it's kind of kind of a shit show here now, but then you're just like, okay, well, why do I want to orange fill this person? Well, I want to help them. I want them to have a better life. So when you come at it from that angle, it's a lot easier. And the other thing is, this is what I've noticed. And I don't know if he's noticed this, but people that have orange filled that it's actually

clicked for very hard are the people that need Bitcoin the least. Ever since moving to Alberta, I've met a lot of guys that are like farmers, have land, you know, are self sovereign, all these things. And I say, oh, you should have Bitcoin. You'd like it. And they're like, oh, yeah, I don't really need it. And I say, yeah, you're kind of right. But they look into it and they're like, OK, this shit's fucking awesome. I'm going to get in. And the people that are working paycheck to paycheck,

the young fathers that have a kid that are struggling to get by that are getting absolutely stolen from, from the government, from the money printing, they can't afford one. They can't afford the dollars to put into Bitcoin because they have zero savings. And then two, they can't afford the time because they're so overworked and overbooked and overstressed that they have no incentive to even learn about it, which is, that's kind of blackfish. But it's very sad. I've seen that a lot. So you have to find people that are open and willing and that those type of people are going down.

It's really sad. Like we see more and more people crying in their car because they can't afford milk and groceries you know every time i go to the grocery store you see somebody crying because fucking milk is seven dollars for a jug or whatever it is you know it's uh it's brutal out there it's so bad how bad the currency's failing and people literally can't take and and that's bringing it back to my episode orange right it's like we got to make this so fucking simple so that people can put in one hour and all of a sudden they're fucking all in bitcoin even if they have only a hundred dollars savings

or even if they have zero savings and twenty thousand dollars of credit card debt they put up two middle fingers to the credit card debt say fuck that start stacking and that's it like that's what that's the reality of the situation we're in now. There's no more time to, like, fuck around. People are going to be so broke. It's going to be so bad. And people need Bitcoin. And it's either, you know, learn about it, figure it out,

or don't and just end up, you know, on the maid program or whatever. And as things get continually worse for people, the only thing that's going to be there for them is the safety net of the government. Well, that's the other thing. And there's not enough to go around

the sad reality, but that's what's going to have to happen is there's going to be something out there, some sort of program just to provide something for them so they're not eating grass they're actually eating legitimate food or at least highly processed food they could survive another day but the government's going to have to step in and help them out and that's going to be really costly for everybody as a whole because that there's no way that there could be some large-scale programs that could help people with maintaining some sort of semblance of fiscal balance you're gonna have to wreck the canadian dollar do that and again once that

continues to happen then you have more people looking to some alternatives and they look at bitcoin it's sitting there they hear about it like for me i could tell you like people do come to me every so often and ask about bitcoin and i happily will chat with them as long as i can to try to inform them all the greatness of it the fundamentals why i think it's the best thing but that's the thing people are they're hearing it they're seeing it and then they're asking somebody about it. That, I find, is the most promising thing. I know that there's a lot of people getting wrecked,

but there's a lot of people that are curious out there, and they're asking the right questions. They're asking the right person. I hope they don't ask scammers out there, because there's a lot. There's a lot of people that are trying to scam, trying to sell some shitty project or some centralized crap.

Dude, do you know my, uh, this is, I won't tell my whole Bitcoin fucking story, but that, uh, that was very, uh, part of my beginning. I was like looking into Bitcoin. I had a, not a friend, but like a friend of a friend, call it an acquaintance that I knew was sort of into Bitcoin. So I reached out, I was like, Hey like hey can you sit down can you tell me about this bitcoin thing and uh i got together with them for dinner they chatted about bitcoin for a bit and then you know half an hour goes by and they started just shilling me this absolute shit coin and at the time i knew nothing i didn't even know shit coins existed I didn't know anything they're just like well there's bitcoin but there's also you know this other coin I was like whoa there's two that's crazy and you have the new one I can't believe it and uh luckily my wife at the time

she's like I'm pretty sure those guys are fucking trying to scam me I was like wait a second look at the website I'm like yeah this looks like fucking bullshit so i uh i was lucky enough to avoid the reckoning uh and it's really sad that people are doing that but it just becomes more and more obvious too i want to touch on what you said about the government helping people because this is another kind of sick uh part of that i was talking to my sister about bitcoin a few years back and talking about liberalism and government help and all this shit. And my mom raised me and my sister by herself. She was a single mother that did take help from the government. We had government housing and all that shit. So my sister looked at me, she's like, how can you think this is a bad idea when this is

how you lived your life? And that's that's the, that's the tricky part. The thing is, is that communism works for a little while until you run out of other people's money. And that, that's what people don't understand is like, yeah, all these awesome social programs for quote unquote,

free healthcare and free food and free everything. It's like, yeah, it's great, but nothing's free. And that's, and free everything it's like yeah it's great but nothing's free and that's and then people turn around and they say why is everything so expensive so we need to ask the government for more money and more money and more money it's just this uh terrible snowball that unravels and people are so when you become so dependent on the government for your livelihood because there's no other options that's uh it's very it's very scary

and we're we're we've reached that point now i think so right like what true true don't put in ten dollar a day daycare fucking price controls but you know how shit everything's gonna go because of that it's so bad man like uh uh it's uh it's scary how it's scary how little people understand about the money that they use. And I'm obviously a prime example. I didn't know shit until I took a second to look into it. And I hope more people do. And I hope more people ask questions like you say. I think people will get more curious, especially when we see this next round of inflation hit.

Canada's already cut rates 50 bps and they're going to do it again. Our Canadian dollar is so wrecked. We're at 100K, 100,000 plus Canadian dollars for one Bitcoin. Like how does that, how can somebody see that and not realize that the Canadian dollar is dead? It's 100,000 Canadian dollars for one Bitcoin. And you think that it's still a good idea to000 Canadian dollars for one Bitcoin, and you think

that it's still a good idea to hold Canadian dollars? How stupid are you? I don't know. Sorry, I can tenet. I love the rant. Anybody that has cash in abundance, they're not

hanging on in cash. They're putting it in some other system. Either they're buying precious metals or they're not hanging on in cash they're they're putting it in some other system either they're buying precious metals or they're buying equities and they're using that as a way to help ensure that their dollars don't get melted away like a like a ice cube so they're working a second job so to speak to try to find the right place to park their money so they could still have access to it later on. Which if you think about it,

it's kind of stupid in a way. It shouldn't be like that. It should be the value of the dollar should maintain itself over a long period of time. But as you mentioned, if you have the ability to go into debt with any type of program they want to fund, that is not free.

There's a cost to that. And usually the cost is future generations pay for that. So the, the, the, the people I care most about are the people that are just really trying to get by and they're saving like $5 a week or something. And they get to like a hundred dollars in their piggy bank or,

you know maybe something crazy like they have a thousand dollars in their piggy bank and they don't realize that next year it's gonna buy them fuck all like it's so sad it's really sad what we're saying in the chat you're saying the next wave of inflation is coming it's gonna be brutal 100 whenever that happens we can't predict it when it's going to happen, but when it does, it makes every crisis that comes up, every financial crisis that comes up, makes the last one seem smaller. 2008 at the time was the strongest. Occupy Wall Street was going on.

We had all this shit going on in 2008. But by comparison, what happened just four years ago when they closed the economy, it seems like small potatoes. It was $700 billion, Len. $700 billion to solve the great financial crisis. They spend $700 billion in a couple weeks now, almost every other week. I don't know if you've seen the stats. We're pretty close to $36 trillion for the American dollar. I don't know

if we hit it today or not, but it's very close. We lose sight of how big a trillion is. If we go back and say, wow, a million is a lot. A million of anything is a lot. A billion of anything, which is a thousand times a million, is a heck of a lot. And then a trillion, which is a thousand times a billion, is a humongous amount. We lose the scope of how large a trillion is because we've been dealing with it for so long.

And I don't know what's next. Gajillion? I have no idea what the fuck's after a trillion. But we're going to get there soon, right? Quadrillion, man. Quadrillion. I should have known that. When I was doing my show, I was sponsored by River right quadrillion man quadrillion yeah i uh i shouldn't know that but yeah when i was when i was doing my show i was sponsored by river for a little while and alex leishman or one of his

crew members sent me some swag and in that was one of the uh zimbabwe uh notes and so i have 100 trillion zimbabwe dollars which i've shown to a few people to try and explain and you still kind of like i try and explain it like this is 100 trillion dollars this is what people are so excited to become a millionaire or a billionaire eventually you become a trillionaire but it's fucking worthless so it's still hard to explain to people that value is more important than the number but uh i don't know eventually people figure it out and they kind of are right now is in the past when you used to go to say walmart or wherever to fill up your grocery cart i mean i'm going to throw

the number it may be factual not but it may used to cost you a couple hundred bucks to fill it up and you're good for in a week or two now it's twice or three times that amount and it was just in a very short period of time in the last four years this multiplication uh came into effect so it's not like this is over a long period of time people can notice like shit in a very short period of time i can't buy the same amount i could buy before and it's not just groceries the same thing applies to people that's looking to buy a car you can't buy a car for in canada for under 30 000 dollars in the past i mean not too long ago you could buy a car for a little bit over 10k in the 90s right

like and that's not like ancient histories but fuck man like it just goes to show you that when you have more dollars chasing the same good the price of that's going to go up and it happened in zimbabwe like it it's too bad because people aren't ready for it they're not preparing for it and they either just don't have the time to learn or they're just unwilling for whatever reason and it's right there in front of them like just buy hard assets like bitcoin stack it if you can run up your credit cards and just buy bitcoin and like you say give two middle fingers to them after lots of options but i got a question for you though now when i just change focus here okay would you get a playstation 5 at 300k yeah i'm gonna buy a playstation 5 at 300k that's that is 100 and so why because i have a

ps5 and i can tell you it's it's meh at best okay so len i was when i was my fiat self before i became my bitcoin self i was a very very hardcore gamer I spent all my money on video games. I owned all the systems. And I enjoy it, man. I enjoy playing games. I became a Bitcoiner. I sold everything. I sold my fucking gaming chair and all my games. I sold fucking everything.

And I have not bought myself anything. I'm very close to my four-year anniversary here. I became my Bitcoin. I wonder what the word is this might uh annoy some people maybe my bitcoin baptism when i when i feel like i became a bitcoin it was uh december of 2020 so i'm very close to my four years and i've bought fuck all for myself except for sats uh and i want to buy a ps5 and right now ps5 costs the new ps5 pro they launched it and it's going to be 1.2 million sats right so i said that's too expensive when it's 200 000 sats that's a deal so if you price it in bitcoin i just price it in bitcoin 1.2 million sats is shitty but 200 200k for a ps5 new one. I'll take that deal. I got some games I want to play. I haven't played any games in a while.

You got to enjoy your life, man. Who was I? I was listening to some pod. I think it was, why are we bullish and made X in case and we're on there. It was fucking awesome. There's like, yeah, like money is meant to improve your life so that you can enjoy the day. And I've, uh, I've,

I've, let's just put it this way. I've sacrificed a lot over the last four years in order to stack probably more so than anybody would recommend. If one day I come out with a book for all the stupid shit I did to stack stats, I think people would be like, this guy's fucking insane.

This is, was all terrible ideas, but, uh, I'll be right.. I think people would be like, this guy is fucking insane. This was all terrible ideas. But I'll be right. I'll be right. Eventually, you just got to take a step back and say, I want to enjoy a little bit of my time. And the other thing is, I couldn't have bought a PS5 or any

games before when I was my fiat self because I couldn't afford it. And when you can't afford something and you buy it anyways then it leaves you with this like gross feeling when you're playing it because you just feel like i'm broke i'm a broke loser i'm such a fucking you know i can't afford this shit this was i spent my whole month saving up for this fucking game but i remember i remember listening to something and somebody and I thought it was insane at the time, but they're like, what I do is if I can't buy 50 of something, I don't buy it. And I'm like, that's crazy, man. Nobody can afford 50 of whatever.

But you think about it's like, okay, what about a chocolate bar? You can, if you have 50 bucks in the bank, you can buy 50 chocolate bars, buy yourself a fucking chocolate bar. But a PS five is $500, 700, whatever, 1.2 million stats, man. It's like, that'd be crazy, dude. I'm not going to out my stack, and I'm not there yet. But, you know, when you get to a point where it doesn't hurt your pocket so much, and you get to buy something, then you get to enjoy it way fucking more. And that's true for

time too, right? It's like, when you can afford to take time off, you're going to enjoy that time off more. If you're taking a vacation, but you're sacrificing a week's worth of work, and you're going to be struggling to pay the bills, you're not going to enjoy that vacation. I know from experience because I fucking did it. Now when I take time off, and I take a week off, and I know from experience because I fucking did it. Now, when I take time off and I take a week off and I know that my bills are paid for the next month, you know how much better that feels? Like the freedom that Bitcoin gives you to just have that sense of, I don't know, relief, I guess. And, you know, like I'm not trying to say money buys happiness and Bitcoin is going to make you rich so you don't have to give a fucking. No, that's not what i'm saying what i'm saying is peace of mind from having savings is a way better

way to live than being a broke fucking fiat loser that's always miserable and depressed all the time i love that red if ps5 i hope you get it i mean way you described it, I'll be honest, for me, it's so bland. I prefer the PS4, but for you, I hope you buy it. It's been out. How long has a PS5 been out for forever now, dude? But the other thing, the other benefit is that all the games I want to play

have come way down in price. I don't know what your style of games are, but I still haven't played the last of this, spider-man the new ratchet fucking uh final fantasy 7 rebirth final fantasy 16 um i don't know i could i can rhyme off a few more but like they can't they came out like four fucking years ago and what happens with games is the price goes way down which is sweet right so when i go to buy the games, they're going to be $30 Canadian dollars, which will be equivalent to... What is that? $100? No, it'll

be $30,000 for a fucking game, dude. No, less than that. $10,000 for a game. I'll take that deal. That's my price. It's all about time preference. That's the way to do it. And I can't... We can't end this without you even

disclosing some of the stupid things you've done to stack sats i mean can you disclose anything because i'd love to hear it it sounds like you must have done some crazy shit okay um i moved to alberta i drove around on um a car that had absolutely zero tread for the first winter I was here. It was extremely stupid, but I didn't want to buy winter tires. And, uh,

I was slipping and sliding all over the place for the entire winter. Like in Ontario, communist Ontario, at least they go out and they salt the roads and you can kind of get by here. It's like, everybody's got a fucking truck. So they put like some sand on there and they're like,

all right, go, go get her. So I was, I was hoping that I'd like, alright, go get her. So I was hoping that I'd make it through and it was dangerous. It was really bad, really bad idea. Right now I have tape on my window

because the mechanism that puts the window up and down is broken, so I just have it taped up. That's just vehicle stuff. What else have I done? I don't know. Actually, as of next month it's only 23 yeah this is another way i think you mean if you don't have a if you don't have a vehicle that's older than bitcoin then you're short bitcoin well no i don't want to go as far as that but yeah i mean for me i've come to a point a vehicle is just getting from a to b and

you just want to get there as cheap efficiently and as safely as possible you want to repeat that process as much so you know sometimes an old car just won't do it because the reliability but yeah yeah it is what it is but i also want to ask you too are you into home mining at all have you dabbled in it without going too far i'm uh i'm a bit axer i'm a bit ax bro yes that's what i wanted to get at yes and i uh yeah dude so i'm anti like everything every little trinket and bullshit thing that comes out bitcoin i don't buy anything but when the bitx came out i actually have another episode on my show i'm sure i fucking did this years ago. And I said, there's going to be a device that comes out.

I basically explained a bit. I said, there's going to be a device that comes out that costs basically nothing to run, but you'll be able to pump out hashes and people will just run it for the fuck of it because they want to decentralize the network, the mining. Right.

And then I saw the bid acts. I'm like, motherfucker, these guys did it. And so again this is the other thing right going back to like the easiness like how easy is a bit axe like i'm fucking stupid with a lot of tech stuff you know like that's the other thing i used to be up and up on everything i was a hardcore gamer i could fucking program a computer and do all this shit

and then you know a couple years goes by and technology has gone so far that i feel like i'm a newborn in the world of technology but um with the bit axe it's like i figured it out man i felt good and pretty much anybody can figure it out and i was excited um if i ever find a block i'll be happy i'm not doing the uh pool mining i'm just solo mining i'm not in mining. I'm not in it for 40 sats a day. I'm in it all in. Baby, give me that 3.125 or give me just... Let me decentralize the hash. It makes me happy. I love that.

I feel like... Yeah, I mean, it just makes me feel... It feels cool. And also, bidaxes look cool as shit. This is probably another time preference thing, dude, because I sold all... I don't know you can collect like fucking uh gamer fucking memorabilia little fucking figures and whatever i had all that shit sold all that shit right and then for you for the three years i was like anything i looked at that was just not food water air shelter i'd be like

why the fuck would anybody spend money on this? So my BidX was my first dip in the toe into buying something that was just for me. So I guess I lied a little bit when I said I haven't bought anything for me. I bought my BidX for me and now look at me, I'm a D-Gen that's going to buy a PS5, so

maybe it wasn't a good idea. I think you've earned it. You sacrificed a lot to get to this point. So when it comes time for you to buy the PS five, whenever that may be, I think you owe it to yourself to do that. I mean, it's not just work and that's it.

There's more to life than that. And so eventually you're going to have to start either spending some of your Bitcoin or some of your Fiat that you would have potentially directed towards Bitcoin for yourself. Yeah. That's what it'll be. And I hope you enjoy it far more than I do. And I'm not trying to downplay the PS5. I just find this current

generation of consoles to be... Except for the Switch. I like the Switch. Yeah. The Switch is amazing. I love the Switch. Still crushing it, yeah, man. I got a Switch. Yeah, I mean, breath of the wild. Do you have kids? playing just the switch is raw it's like it's amazing i love the switch don't crush it yeah man i got a switch yeah i mean breath of the wild do you have any do you have kids i don't know if you have kids i have a six-year-old six-year-old boy so we've been playing the switch for uh many

many years yeah right on right on it's not for me so i do yeah so okay she she loves the the mario games and all that. I think I like them more better. So I mean, I guess one last question before we sign off then. Favorite game? Favorite game of all time? Yeah, I want to hear it. It's Final Fantasy

10, I think. Have you ever watched it? Go ahead. Reason being is just an epic story it was my first big rpg i played as a kid aside from pokemon so pokemon's probably up there too but uh that was the game that i realized like oh there's stories to be told here and this is that's the other reason i want the ps5 right it's like i'm kind of sick of movies and fucking TV shows. I can't watch any movies or TV shows.

With games, like good ones that have good stories, you can really get involved and, you know, watch character development and all that shit. So it's much more enjoyable. And Final Fantasy X was the first one that did that for me. So it's got a very special place in my heart, I guess you would say. Did you ever watch the Spoonie experiment?

No. What's that? Check it out. Spoonie did a review of Final Fantasy X and he absolutely ripped it to shreds. You being a fan of it, like it. He's really good

at giving reviews and stuff. You may think, it's been done a thousand times. This guy was one of the OGs to have done it. He's really good at giving reviews and stuff. And it's like, you may think, oh, it's been done a thousand times. This guy was one of the OGs to have done it. And he's gone off his rocker. And he's actually, he's totally nuts now. He hasn't done anything for about a decade. But his stuff

that he did put out some 15 or so years ago, including this Final Fantasy X review, are fucking magnificent. Spoonie. Send me the link. I'll watch it tonight. Yeah, send me the link.

I'll watch it tonight. You will enjoy it. So anybody out there checking them out too, he does a lot of good stuff, or did a lot of good stuff. I wish he comes back to doing what he did. Anyways, Goomba, buddy, I think this is time to call our quiz. We've been at this for a little over 50 minutes. Any final words? Any last thing you want to get off your chest?

Yeah, anybody listening, if you're still on the edge or you're still trying to think whether you should learn more about Bitcoin, you should because if you don't, you're fucked. Buy as much Bitcoin as you can before the end of the world. That's what I tell people. Appreciate you coming on, Gumba, taking the time out of your

busy schedule. You'd be stacking sacks if you weren't doing this. So I appreciate you doing this. So we'll have you come on again. Yeah, man. This has been awesome. So with that, we'll be back at this on Monday doing the regular CBP episode on Monday evening. But Joey's

not here. He is going to be a new dad. I'm not sure if you heard that. Is the baby here? It's Friday is the date where it's going to come out for sure. Could be between now and then. new dad. I'm not sure if you heard that. Is the baby here? Not yet. Friday is the date where it's going to come out, for sure. Could be between now and then, but she's expected to go for a C-section on Friday. So I

actually was having a few drinks one night. I DM'd Joey. I was listening to you guys show, and I was like, Joey, you gotta get your fucking shit together and make some babies, dude. And he's like, bro, I got one on the way. I was like, Joe, you got to get your fucking shit together and make some babies, dude. And he's like, bro, I got one on the way. I was like,

no fucking way. Yeah. So he's, yeah. So he's going to be a new dad as of Friday. So I'll be at this, uh, doing this solo,

but not so long. And I have somebody with me, guest hosts on Monday. So this will be fun, but go my buddy. Appreciate you coming on. Keep up the good Monday. This will be fun. Goomba, buddy. Appreciate you coming on. Keep up the good work, Glenn. Thanks, man.