The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The LARGEST Wipeout in Crypto History and Bitcoin is Unphased | The CBP 236 Pt 1

Episode Date: October 15, 2025

FRIENDS AND ENEMIESBitcoin and crypto just experienced the LARGEST drawdown in history. Alt coins crashing like Brampton Man behind the wheel of a big rig, lots of morons nuked on leverage. Bitcoin remains UNPHASED. 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.com⁠Discord: / discord A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetworkThis 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. With DomainSure and EasyMail, you'll sleep soundly knowing your domain, email and information are private and protected. 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 25% off fees FOR LIFE, and start stacking today.256Heat -⁠ https://256heat.com/ ⁠ GET PAID TO HEAT YOUR HOUSE with 256 Heat. Whether you're heating your home, garage, office or rental, use a 256Heat unit and get paid MORE BITCOIN than it costs to run the unit. Book a call with a hashrate heating consultant today.The Canadian Bitcoin Conference - https://canadianbitcoinconf.com/The PREMIER Bitcoin Conference, held annually in the great white North, where Bitcoiners come together to share stories, build momentum and have a great time while doing so. Whether your a pleb, business, newcomer or OG, the Canadian Bitcoin Conference wants to see you in Montreal, October 16-18 2025. Don't miss this one!

And so, you know, the government can say whatever they want about this thing not competing. It's for black market only. It's for this for that. But they're really treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF. Can't be exposed to that. That's my view.

It's not a good idea. And by the way, that'll hit MSTR too. It'll probably hit other stuff as well. Friends and enemies. Welcome back, Canadian Bitcoiners podcast. Friends and enemies, welcome to the CBP. Want to be better informed. Listen to Lennon Joe E.

Spots is taken care off right off the top. Oh, Bitcoin and Easy DNS, the media is feeding a slop. It doesn't matter what topics discussed. Quality entertainment and information you can trust. That's being planned or at least discussed. You know, we're not going to allow people to buy this. You can trust. Send the guys some value, boost them with some stats.

Bitcoin is a scarcity asset. I mean, it's just a fact. Geopolitical national down to the local cloud. Friends and enemies, welcome to yet another edition. of the mighty CBP, the Canadian Bitcoiners podcast, and it's a, well, it should be the Canadian Bitcoiner podcast today because I'm Len, I'm doing this one. Solo Dolo, Joey is in Washington, I believe, watching the former Redskins, current commanders, whatever they're called these days, play Monday night football against, I don't know, I really don't care. Either way,

I hope Joey's having a wonderful time. I hope you are having a wonderful time on this Canadian Thanksgiving day. And this is going to be kind of an abbreviated. episode because doing this alone nobody wants to hear me talk so i'm going to try getting in and out as fast as possible one stroke done all right let's talk about these sponsors now i did say i'm going to be doing this one alone but still with the magic of the internet i'm going to pipe in joey to help me do the sponsors at least we'll do the first one joey EasyDNS is the best place for you to host your content. Buy a domain, port a domain, anything to do with domains, Mark's got your back.

We like Mark. He's been a friend of the show for a long time, in front of ours as well. And him and I be doing a couple of different, I think chats at the conference will be on stage for it together. One is just the two of us about Bill C2, the wolf and sheep's clothing. I think the talk is called, not pulling any punches there. Anyways, if you're a bitcoiner, lots of stuff for you over at EasyDNS on the virtual private server side, You can run a Bitcoin node, Noster Relay, set up a BTC pay server implementation for your shop. Don't use Shopify, that's for sure.

He can take care of all that for you. For a couple extra bucks, you get Domain Sure and Easy Mail, which, honestly, if you're doing anything related to a business or hosting client info or you have an email list or whatever, you want to protect those things. And these days, a lot of people are gunning for that information. It's sold on the dark web. It's used infariously. And you can imagine all things that could go wrong if you lose your client

list or client database. So Mark can take care you there too. All you got to do is go to EZNS.com, put in the promo code CBP Media and you get 50% off your first round advice. Can't beat it. Thanks, Joey. You like how I did that.

Anyways, before I did a second sponsor, Boomer is saying that he's missing a Jay's game. I had no idea they're playing. I think it's game two. Game one, they got absolutely slaughtered from what I understand. They're playing the Seattle Mariners. It's I don't know. I'm just picking this up as I go long. I haven't watched baseball in quite a while. I used to be a big Jay's fan back

the day. Either way, it's talking about the second sponsor, Bull Bitcoin. Non-custodial, this is what you want in exchange. No leverage. This is what you want in exchange. We'll be talking about this more at length in just a little bit. But either way, Bull Bitcoin, great place to buy, great place to sell. You could do on-chain. You could do lightning. So when the fees are starting to go up, you could use that as well. You can't facilitate a buy. without providing a Bitcoin address, right? Think about other exchanges where you make a buy, they hold on to it. Do you really make the buy?

Do they really have it for you? Now with Bull Bitcoin, you've got to provide an address in order to do it. Also, if you want to send people money, say they didn't want to take Bitcoin, do they want to take Canadian dollars? Well, you could use Bull Bitcoin to facilitate that type of exchange. You could have the money sent, the Bitcoin, and they will e-transfer your buddy, the Canadian dollars. It's a way to pay somebody with Bitcoin using bull Bitcoin.

You'd also pay bills with bull Bitcoin. If you want to do that, the price of Bitcoin is pretty high. So you might as well spend it. So lots of different options if you're in Canada, Costa Rica, El Salvador, Mexico, Western Europe, Argentina. Are they in Argentina? Either way, yeah, they are in Argentina. Check them out.

Use our code below. Sign up. And if you do that, a little bit will be taken off your account every time you buy. like it's not going to be the same type of spread as you would if you didn't use our promo code check them out and use them that's what i suggest that's where i do my buys and third sponsor uh again i'm gonna just pipe in joy for this one again with the magic of the internet is the canadian bitcoin conference joy take it away in the bitcoin conference 2025 i'm very excited talk to daniel carlin today on the phone talk to uh one other person whose name i won't reveal but uh this can be a fun contest during the conference as well things are shaping up books my flights today, we are ready to rock and roll. If you haven't bought a ticket yet, you ought to, and you can get a bunch of money off, not with our promo code.

I don't know if Danny wants me to share this, what I'm going to anyway. I think the promo code Meetup 2025 saves $45.45 off the ticket off any ticket. I'm pretty sure any tier. So enjoy that. Hope you enjoyed that. That's a sponsor for our show, as sponsors for our show. So I'm going to just go to the boosts and we have four different boosts this week. And for people wondering what the heck this is, if you use Fountain, which is an application

on your phone to listen to podcast, you can send in a message to us and with Satoshi's and the five most largest sats donations are going to be read. So got four in this week, wartime number one, 133 sats. He writes in Ray from Paxville, was strong again. against K-Y-C. I wouldn't trust this guy or a new company at all. Yeah, I know there was some issues with Ray and Paxville,

they had some damning comments about Ray and the other co-founder. We didn't really get into it last week. So either way, Paxville users, they got, not to say rug, but they have to go find somewhere else to do their decentralized exchanges. War time. Again, 133 Sats. Thank you very much.

And he does a couple of arms flexing. Share 500 sats. I mean, this is with respect to Joey interviewing Mark from EasyDNS. He writes a great episode. Love hearing from Mark. Mark is an awesome listen to, like the guy to listen to. He's very knowledgeable. And the dude is really down to earth.

He's just, I can't really say enough about him. Like if you meet him, he's just a regular guy. But he has so much knowledge. And he's an author of several books. Like, anyways, don't want to blow him too. much last but not least we have trevor 2100 sats he says as a student of quad rica i couldn't agree with you more then get off the exchanges and yes yes yes thank you very much for everybody with the donations for this week and you are 100% right don't use a custodial exchange but if you are

going to use the custodial exchange for whatever reason take that bitcoin off asap and put it on a device on a wallet that has never those keys have never been attached to the internet everything was done offline you got to sleep well at night you don't want to get rugged there's so many different people out there trying to take your bitcoin and don't give them an opportunity do it right if you need help just reach out to me and i'll be happy to guide you in the proper direction now as for the week at large joey obviously is at washington comes back then he He goes to the Canadian Bitcoin conference, which takes place this week on October 16, 17, and 18, if I recall correctly. So if people are over there, you might as well go say hello to Joey.

He's going to be very busy, but he's always very approachable. And Pollyman saying CBP is greater than sportsball. Good for you for taking time off, not watching the Jays and watching me spiel, do my spiel here solo. That's quite a commitment on your part. And that's it. So I don't think we're going to have an interview this week and we'll be back at this. I think next week at a full strength, full roster, no short-handed will be a, well, we'll call it a power player. Actually, let's call it a power play.

It leaves her back in session. So is the NHL. All right. Let's go right into it. I got a few stories I want to bring up some Bitcoin news, the biggest news this week. And by the way, people in the chat, feel free to comment because I'd love to engage you as much as possible. The biggest news this week was the Friday dump that near market closed. Trump, Donald Trump, came out and said he's going to be escalating a trade war with China.

This happened Friday afternoon at 4.50 p.m. Eastern days when he released this information on truth social. The timing of this is very interesting. We could pick that apart. But what resulted from all this was Bitcoin took a bit of a dump with respect to the price. and I could hear people grumbling a bit of a dump like look I know we went from 121k 122k to 105k in a flash like that but yeah if you look at it by percentage of a drop and considering where it's settled at a round of 110 mark and that's about a 10% drop a 10% drop in Bitcoin isn't a lot if you have been in this game long enough all that

really did is create buying opportunities for people out there that want to stack more Bitcoin A drop of 10%, though, was a huge problem for leveraged players out there. And I say this many times. You want to learn from other people's mistakes. They're lessons that they provide you. They're free. The only thing you have to do is invest time to learn about it. And if you do that and you understand how they fucked up

and how you're not going to fuck up because you're not going to follow in their footsteps, you're going to be all right like we could take for example one of these leverage players that got absolutely fucking smoked this guy is named she bashy nakamoto he's on on reddit and he posted his story on the bitcoin subreddit yeah boomer 100% it was just a minor done for bitcoin shit coins got absolutely thrashed fuck them but back to this guy she bashi nakamoto on the Bitcoin subreddit. He started off by saying he was a type of person, a type of guy that would tell people to stay away from leverage and just do DCA, the dollar cost average, right?

But this motherfucker didn't listen to his own advice, right? He says he's been stacking since 2020, back when Bitcoin is at the price of 4K. So he's been in this for a long time. He's seen the drastic up and downs of. Bitcoin. Remember, it went to 69K, where the fuck it was in 2021. Then it dropped down. In 2022, it was low as 15K and it ramped up now to like we're in 110. This guy's been through the ups and downs, right? So he was sending aside some of his money, every paycheck to buy Bitcoin. This is what a good Bitcoiner should do is if they have extra funding. Great.

But he broke the fucking cardinal rule of you fuck around and you find out. This guy definitely found out what not to do. He couldn't. make regular contributions to Bitcoin because expenses were going up. This is in the past little while. So he's like, oh shit, I can't make buys in the Bitcoin. I got to do something. What did he do? He tried to make up the difference by using leverage trades. What happened? He lost

it all. Everything is gone. Everything that he's stacked away. The guy is now 36 years old and he put, as he put it, he says he is Nothing but a car loan and a few pieces of furniture. That's it. His total net worth, he says, is roughly the salary he gets in one month. Why did he do this? All because of fucking greed.

Learn from the mistakes of these people. Holding on his stats is what matter. Don't give up your keys. Don't do the leverage shit. It's just a 10% drop, as Boomer says over there. It's the price where he were just two fucking weeks ago. right like if you can't buy because you don't have don't find some other ways to stack unless you're going to do selling services or something that's fine but don't fuck with your

bitcoin is if you do well this man this guy he fucked around and found out and not only that this guy lost it all there were some shenanigans going on by exchanges there was big volume going on now this was the only thing that people could really trade at that time markets were closing or closed so people look oh what the fuck could i do oh that's move our bitcoin let's move our shit coins crackin coinbase they were showing errors when people were trying to buy bitcoin during this high volume environment but there were some of those exchanges out there they did weather to storm and i'm going to name them correct me if i'm wrong this is from what i gathered river swan cash app and the sponsor of our show

bull bitcoin to name a few so those ones they remained open even though the high volume times you could buy you could sell you could do what the fuck you want because they didn't suffer the same problem that cracking or coinbase did when coinbase goes down there's always something going on there's always some fucking issue going on either way got to give a little bit extra credit to coinbase for this whole saga here right we had just last month coinbase decided for their international users, they would allow them up to do the 50x leverage trade compared to the previous 20x. So just last month, just beginning of September, they decided, you know what, 20X wasn't

good enough for us to provide you guys. Now we're going to give you a 50X that you guys got fucking wrecked, right? Like boomer's saying, he's quoting Francis. He says leverage isn't a shortcut to become, it's becoming an OG. It's right. You can't do any shortcut to be. become an OG. To become an OG, you've had to have been there. There's nothing you could do. That time is gone. It's lost. It's done. The only thing you could do going forward is stack

sats. Well, my personal opinion is to humbly stack stats and that's it. Don't fuck around. You're going to get wrecked in the end. Also, if you're going to be doing any shenanigans, like I mentioned, just stay the fuck way. If your exchange offers leverage trades, run the fuck away. And for anybody who thinks that maybe, just maybe Trump may have made out like a bandit or friends of Trump, I've been reading stories of massive shorts being placed just before this message went live from Trump. I read this and I read between the lines. It's, this is a fucking joke. All I can say is, buy your Bitcoin, secure properly.

Fuck the rest because it's all noise. And what you could do, it's a 10% drop in the price. If you had Bitcoin, it's a 10% drop. That's all you suffered. I didn't bat it. And I was laughing at this whole thing, watching all this shit go on people suffering. And, you know, I'm laughing at their suffering because they fucked out. They did the wrong fucking thing.

They should have learned. Hopefully this whole, this lesson here turned shit coiners that got wrecked because their asset price went down far, more than the price of Bitcoin did by percentage. Hopefully it turned them into Bitcoiners, but also people that were doing leverage trades. Hopefully it turned them into hardcore people that want to secure their own keys. Maybe not.

Maybe they'll just keep doing the same thing and just try to leverage even more to try to get what they've lost. Who the fuck knows? Anyways, we got some wild times ahead because think about this. 10% drop in Bitcoin roughly created all this. apparently this was the largest liquidations in quote unquote crypto history and all it took was a 10% drop for a price of bitcoin we're in for some wild times ahead fuck the treasury companies right they i think they're going to play a major factor in the future for a huge drawdown that we're going to experience in the next few years could be wrong but i think that's going to happen fuck those exchanges that do the bullshit leverages is there they're just out there to fuck you over in the end and then if there comes to

time when you're making bank, they'll force close you. I think that happened to that guy in Romania. I forget this fucking name. Either way. The best thing to do for you, and I keep reiterating, I just keep repeating it, is just buy fucking Bitcoin. And that's that.

Somebody got a hold, this is a boomer saying, somebody got a hold of Binances or Coinbase's order book and a tactical attack on shik coin holders. Was this, I'm wondering if this was somebody was doing anything? Like, nefarious towards shit coiners or this is simply just a reaction to trump's message and it was just all these orders came through and AI that was doing these order bots and shit they just

triggered it and just created a cascade effect and here we are I don't know it is what it is and uh I hope you all learned a lesson from this and what to do and how to secure your bitcoin but either way fuck them all another group of people you could tell to fuck off is Bitcoin core Why? Version 30 was just released this past weekend And what does this mean? It means the possibility of building blocks

With less transaction stuff within it Is now possible And fucking hell You gotta think about Bitcoin is a peer-to-peer exchange of money Not fucking spam JPEG's trash Like People are wondering what the fuck I'm talking about So in a nutshell

Well, Bitcoin blocks, they have transactions in it, right? They were one Bitcoin is sent to another, or stats are sent to another with those UTXOs. Nothing is new here, but it's four megabytes in size. That's what we all agreed upon. This is the maximum size of Bitcoin block can be. And you can only stuff so much in a four meg block. And there's also something within there called upper turn

and allow people to run scripts and do some creative things like even burn Bitcoin, shit like that. But some people have figured out how to be. use this scripting language to even shove pictures in it. I'm looking at the inscriptions. And so, I guess I'm going to be very softness, a creative way,

but still totally bullshit since it's all spam. But either way. The opera turn limit for core used to be 83 bytes. Not megabytes, not kilobytes, bytes, 83 bytes. the Atari 2,600, if you go back to this was released in 1977, this is fucking primitive stuff.

It only had 128 bytes of memory. So the opera turn at 83 bytes had less memory than did the Atari 2,600 back in the day. So we're talking 83 bytes out of 4 megabytes, very small, very small. And now Bitcoin Core version 30, the default for, the upper turn is 100,000 bytes. That's an increase of 1,200X, give or take, a little bit more, actually. 100,000 bytes is 100 kilobytes or 0.1 megabyte. And that's going to be by default that you could store, you could use the operant

in Bitcoin core. So the amount of bullshit that you can now directly store in Bitcoin increases a fuckload. Yeah, you could have used trickery to pass to store it, right? But it required manipulation of the operturn. And now it's easier to do so. Why is this a problem? Well, you have to think of the worst image imaginable. And I don't want to say what it is.

You could think what it is. You know what it is. Now this can potentially be stored with great ease on Bitcoin. You run a node. It's going to be there. doesn't matter if you run knots it doesn't matter how you fucking do it if somebody builds a block

with this bullshit in a block it's there for everybody to store so potentially opens the door to state attacks it's easy to propagate not easier to say but it's now

there's more opportunity that you get because the upper turn is much much larger there's a lot of NHL 94 that you can store in that. The propagation will happen from Bitcoin Core version 30. That's the only one that could do it. Every other one will not be able to.

But if it gets built and put in a block, well, it is what it is. So this opens the door for state attacks and running a node, potentially. I'm not saying for sure, potentially. You run a node, I run a node. There's one like fucking two feet from me. There's a risk now, right?

Think of all the enemies that we have created with Bitcoin. Central banks, governments, countries, you name it, IMF. If they want to fuck over Bitcoiners now, they could do it and in a way and create this flood. And now with Donald Trump apparently having a great deal of Bitcoin exposure that was being reported by a large Twitter account, this could potentially be an election issue moving forward. And who the fuck cares about Bitcoin for it in the mainstream? Nobody cares. Bitcoiners we do.

But they say that you could do the data carrier size equals 83 on your Bitcoin config. And that will be able to least reduce it from 100,000,83 bytes. But this is going to be mothballed moving forward. So this data carrier size option is available now. Sometime in the future, unknown when it's going to be gone. So what are the options? You got to you got to vote with your CPU. He's got to vote with your computer, your hardware.

Run a version of court that's not version 30. Run nots. Right? Like do something that at least shows you're not happy with version 30. Other than that, I don't know what else you could do. You're kind of just forced it. Maybe you could donate to other competing. I don't know.

So what is he saying? like if a government before 30 so you're saying like if it was a government before core 30 they could head with a gun to it the minor and then have him included the really policy doesn't affect it it just run nuts to tell core they can

don't have to say that's what you that's doing anything you can do right is telling relaying out a message saying you're running knots you support their iteration of a Bitcoin node the client

and go from there we like ultimately we need more options i i'm hopeful that there's going to be more i know there's a few out there but they're not mainstream compared to say core and knots i'd want to see more more options out there and they're saying uh if you do run it like arc labs ecosystem Alex Bergeron. Set on X. He intends to, quote, use all the additional operant space and we'll use it to make Bitcoin more like Ethereum except better. Why would anybody want this to be more like Ethereum?

We can't, Ethereum, we can't run your own node without having 32Eath, I think it is. So it's very costly to run a node unlike Bitcoin. that what's the max supply i don't know if there is one in eath but certainly there is in bitcoin so there's like why would anybody want to have bitcoin and try to steer it in direction more like ethereum uh it's a peer to peer exchange of tokens of money that's what bitcoin really is that's that's the way i look at it total fucking bullshit anybody out there running a node and a running core and you're thinking about upgrading

to 30, do yourself a favor, read into it, and consider your actions moving forward. If you do run 30, you're signaling you want this, you're happy with the direction it's going and you

don't want to see any changes to what core developers are doing. You're happy in the direction they're going. Just do something else. fuck them run knots run anything before 30

and also of note if you are going to run Bitcoin Corps before 30 keep a note there's a maintenance schedule so right now version 27 is the only one receiving and so 27

and newer so 27 28 2930 I believe it is is only receiving the maintenance like all the security updates and all that bullshit so if you are running an older one probably aren't going to get rugged, but just keep in mind that there are any security patches

or anything that needed to be placed in it, that fix it is not going to be done unless you do it yourself or you find a developer to do it on the side. So either way, older versions, they are not maintained. It is what it is. All right.

Last story on the Bitcoin side of things. I told you this is going to be an abbreviated episode. Roger Verre. Some people might say Fuck him because he's a big blocker And others call him a martyr Right like he is self-proclaimed Bitcoin Jesus But he is on the receiving end

Of a heavy-handed IRS ruling Because of what the U.S. called criminal tax fraud charges And He had to fork up $48 million dollars to pay off these fines. $48 million. Think about the type of scratch. You got out of handy just to pay off a settlement like that.

And he did it. I'd have to sell my car 48 million times to pay this. But I digress. Why did he have to pay this $48 million? It's from alleged mail fraud, tax evasion as well as filing false tax returns. How did this happen? back in 2014, he renounced his U.S. citizenship and he left the U.S. for, I believe, same kits. And the U.S. had, and still have, for what I understand, an exit tax requirement for people in the situation.

So for people that are leaving the country, Canada even has one, by the way, you got to declare what you have and they just fucking pay it off. And Canada or United States is happy and go from there. boomer saying i'm fucking the current bitcoin jesus i'm not i'm not any of that man i'm just some joe blow over here anyways back to roger for fuck him paid off $48 million dollars u.s got their money they're now happy i'm sure they're going to put this $48 million to good use right like i cannot think more than anything this story is probably going to be a way to spook people moving forward who do plan to leave the u. or Canada, wherever, and they have to then fork out their money to Uncle Sam.

That's what I think this story is really. I understand Roger Ver, he didn't pay, but it became big news, and I'm sure the government of the United States is very happy. It became big news because, like I said, if this could spook a few people who thought they could leave without paying, and now they're going to just pay it, obviously the U.S. is going to be happy as a result. So if they could do this to Roger Verre, at least the idea is they can do it to anybody. Is that the truth or not? Who knows? Do what you want. If you're going to leave Canada,

I'm going to leave the United States and you're not going to declare it's up to you. If you are, it's up to you. You know what the laws are. Do what you got to do. But that's it. All right. Like I said, this is going to be an abbreviated episode. That's it for. the bitcoin side i have a few stories on the rest of the news that i'm going to talk about and i hope you enjoy that so with that stay tuned if you're on a video if you're watching us but on the audio we'll be back tomorrow so take care and don't run bitcoin for core version 30