The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - What Happens If Bitcoin Can’t Agree? | Core vs Knots & Canada’s Bitcoin Strategy

Episode Date: February 5, 2026

🚨 LIVE: What happens if Bitcoin can’t agree?As internal debates inside Bitcoin intensify and questions around consensus resurface, the network is facing a moment that goes beyond price or headlines.At the same time, Canada is stepping into the conversation — with politicians openly discussing the need for a Bitcoin strategy while global markets remain under pressure.This isn’t about panic or predictions.It’s about governance, coordination, and what happens when there’s no clear authority.From Core vs Knots and the limits of consensus, to national strategy and political alignment, today’s live discussion explores why these debates matter now — and what they could mean moving forward.Money is changing.Power is shifting.Bitcoin is in the middle of it.📡 Live discussion.This conversation connects money, power, technology, and the future of individual freedom in a rapidly reorganizing global economy.Please Like, Share, and Subscribe to the channel!SponsorseasyDNShttps://easydns.comAnycast DNS, domain registration, web & email services — fast, reliable, privacy-focused.Pay with Bitcoin.Use coupon code CBPMEDIA for 50% off your first purchase.Bull Bitcoinhttps://mission.bullbitcoin.com/cbpThe CBP recommends Bull Bitcoin for buying Bitcoin simply and securely.Use the link above for 25% off fees for life.256Heathttps://256heat.com/Heat your home, garage, or office while earning more Bitcoin than it costs to run.Book a call with a hashrate heating consultant today.Listen to The Canadian Bitcoiners PodcastApple Podcastshttps://podcasts.apple.com/ca/podcast...Spotifyhttps://open.spotify.com/show/6WzoIyT...Fountainhttps://fountain.fm/show/VaB9E0KrXGqg...RSShttps://anchor.fm/s/538d43f4/podcast/rssSocialhttps://x.com/CanadianBTCPodhttps://x.com/JoeyTweeetshttps://x.com/TheBTCPriceBotDiscord  / discord  ⚠️ DisclaimerEverything in this episode reflects personal opinions only and should not be considered financial advice.#bitcoin #consensus #corevsknots #governance #canada #bitcoinstrategy #macroeconomics #geopolitics #soundmoney #sovereignty #markets #power #institutions

Friends and enemies, welcome to another edition of the Canadian Bitcoiners podcast. I'm Lend, the legend, doing this one solo. This is our first interview of the year, 26. We have yet to do one of these, I believe. No, no, we did do one. Joey did one with Mark not too long ago. And speaking of Mark, let's bring up him in just a second. But today, I'm going to be talking to Mr. Arnome.

And he's been on the show a number of times. And what we've talked about in the past was about the fork wars that seem to be going on in Bitcoin, his viewpoint and taxation, a various bunch of things we talked to him about. But today, an interesting topic, potentially Canada stockpiling Bitcoin, at least trying to twist the arms of politicians to at least look at this as an option for Canada moving forward. And Noam is going to talk about this in detail. But before we bring him on, he's not yet in the back. You'll be here momentarily. I just want to talk about today's sponsors. And I did mention Mark.

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I think it may be time to bring him on. A little bit early. I was hoping to do some riffraff with you, keep him on standby, but you know what? I don't want to keep him on standby any further. Mr. Arnome, are you there? Len, of course I'm here. And you can riff-raff away. I love your melodic voice just carries me away to a land where I say to myself,

do I need a Bitcoin heater? Like, what are the economics of that? So yeah, please continue. Don't let me stop you. I appreciate this. And I do love your beer and Bitcoin talks. You had one last week, I believe. I wanted to hop on.

But I do a lot of Fiat mining. so I have no opportunity to hop on. It's been a while since we last chatted. Yeah, I think we last chatted at kind of the start of what became the BIP 110 proposal, the BIP 110 proposal. That was start of December, I guess. So now we're at the start of February. It's been a little bit.

Yeah, but you've not just, well, you've been not done doing some traveling. I don't want it to go too deep into that, but you're now back. hopefully you are rested. You went somewhere warm. I don't want to know too much about your travels, but I do hope it was well worth your while. Yeah, I definitely enjoyed myself traveling, but it's time to kick my feet back up at home

and back to normal life for a little while. Now that Bitcoin's low, I mean, like, you travel when the price is doing well. That's the trick. You do your dream stuff. You travel. You buy yourself a house, but down-to-down payment.

that's for when the bulls are out and everything's great. When the bears have come out and you're like, maybe, oh, maybe there is still another four-year cycle going on here. Who the hell knows? Either way, it's going down. I'd rather be buying than selling. It's time to pull back on the trips, just a little bit. And, you know, start stacking again.

That's kind of where my head's at is like, what can I do to put some Bitcoin in my pocket at these prices? I'm kind of in a different mindset. And maybe I'm a total moron, but I am consistent with my approach. I don't think I've, I know actually, I've come across the price and I never said it was too expensive to buy.

It's always to me, even at 120-something, it was always too cheap, and I can't pass up on that. I'm looking into the future, and I think, man, this thing is just going to absolutely rip in comparison to, obviously, the Canadian U.S. dollar. So I look at $73,000. What a steal.

That's a bargain. No, you're completely right. You're completely right. It's just, you know, like I live on Bitcoin. I don't have any dollars, not for very long if I ever do anyways. And so, you know, my, I just find myself naturally psychologically inclined to save because I always have to spend and I always have to buy. If ever I have income, it's going into Bitcoin. It doesn't matter what the price is. Like you're saying, it's a steal at 75. It's a steal at 200. To be honest with you. If I've got income, it's going into Bitcoin. It doesn't matter what the price is. But boy, do I. I like it when the price is low. At those moments, I'm just so psychologically motivated to like, how can I earn more? How can I get just a little bit more of the Fiat mining or Bitcoin mining or whatever it is that I do to stack my sats just because the price is low? Maybe I'm a simp for Fiat price. Somebody hang that around my neck. But like, I don't know.

The price gets low and I want more. It may even get a heck of a lot lower. If you look at those quote unquote treasury companies that stacked away, when it was six digits and they're now trying or starting to report earnings and it's looking very bad for them some of them may start to capitulate sell en masse and then flood the market with bitcoin and that can have a huge negative impact on the price so where we are right now at 73 this might be rather high if things play out the way I envision it I can't guarantee it's going to go that way but you know it's within the realm of reality that this could happen so getting me very

excited, Len. When you talk like that, I get very, very excited. I hope you're right. I hope that we see just a terrible dumb. Not only would it be good for me personally, but the ecosystem kind of needs it. We need to maybe lose some of these shit coiners. We maybe lead to kill off some of these attempted forks. We maybe need to just go through a little bit of the hard times, which are how you build character. Bitcoin needs to build a little bit character. The ecosystem, I suppose, more than itself. needs to build a little character. And that's fine. Every 10 years we need to shake up.

I'm about it. Let's do it. Let's flush the shit coiners, the suit coiners and everything like that down the toilet. But we do have a, it looks like a pseudo civil war going on in Bitcoin. I don't want to say it's full fledged, but there seems to be some shots fired from two distinct camps.

And we talked about in the past with the BIP 110 and so forth. Any, do you have any new ideas about what's going on? Because since you last come on, a lot of water has flown under the bridge and a lot of people have dug in their particular camp. I want to hear your thoughts and what's going on. Oh, people have certainly dug in. You know, I'm

embarrassed for many of my fellow bitcoins. I'm definitely embarrassed for people like Nico and Matthew Crater. I'm pretty deeply embarrassed for them. Because I don't think that they're bad guys if I'm being honest. I think that they're

the pretty good guys that maybe are just too stupid to understand the things they talk about. And that's maybe incredibly blunt and harsh. And I know that a number of your listeners are probably listeners of their tune. Like I said, I think they're good guys. I think they mean well. But I think that anybody that's supporting BIP 110, as it is currently deployed and has failed its fourth activation period, it's been deployed since December activation periods

two weeks they've gone through four failed to find a single block signaling for BIP 110 which probably means that as things are going I haven't even heard socially of any miners supporting this have you one

no not at all I've heard of minors going against it I think specifically F2 pool had mentioned that they were against it kind of before it was finalized so I don't know where they stand right now but I know that like it's not even in the official BIP repo the amount of support from what you know you could call the core contingency of things the established status quo is basically zero for BIP 110 and I don't think that the miners are really any different they've got two point something percent of node runners running it which oh my god that's so fucking dangerous Len that's so dangerous because not only does this thing like forget the BIP's contents for a minute like we'll talk about the the BIPs contents in a minute. But just how it activates is so insane. Have you ever looked at a hash rate chart for Bitcoin? Like, you know how it's, it's just so erratic. The Pips and valleys.

Of course. Huge deltas in very short periods of times because there's a lot of variance. It's a statistical model, right, that we have in describing hash rate and even finding blocks themselves, right? So this 55% activating. minor activated soft pork part of this bit. 5% is like engulfed by some of these dips and valleys in the hash rate chart. Like the variance in hash rate is greater than 5% oftentimes. That's, I can't, that's inviting reorgs is what it's doing. It's inviting reorgs.

Does it have to be 55% through the duration of the two weeks though? I'm not sure how this works. 55% of the blocks in a two week period have to, have the signaling bit set. So in two weeks, the peaks and value should be leveled out just because of the amount of time. Will they? I mean, like, we often see even seasonality of miners' activations. We see, like, 5% is enough that, like, one big miner coming online, one giant, you know, shipment

organized coming online. And just miners moving from one continent to another, let alone new production of minors, is enough to trigger that 5% in any given direction. Just it's too small. It's way too small. Like we've previously activated minor activated softworks at like 80%. And I don't like minor activated softworks. I think that they're ridiculous and they are antithetical to Bitcoin.

The users control the software, which we'll get back to in a second. But activating your software by 55% specifically minors, it's absolutely. insane. To then, if that fails, to say, you know what, we couldn't get 55% of miners, which is a joke, over 80% of them attacked us in the block size wars. Couldn't get 55% of miners. You know what we're going to do? We're going to UASF off the fucking chain and reject any block that meets these criteria that we don't like, thus forking ourselves at an unknown point in time at an attacker's choosing effectively saying, hey, anybody that hates us or wants to watch a bunch of people suffer or steal their money, publish a block

that meets these criteria and it will fork off all of these users. Right? It's inviting it. So like they call it a soft fork, but it will be a hard fork. You can guarantee that because they don't have the support. They don't have the minor support. If they did, it would have activated by a minor activated

soft fork, which is where I discussed is already doing. So like, just talking the activation metrics is insane. This is like somebody pulling out all the nuclear weapons, which is consistent with Luke Jr's idea that Bitcoin is dead. He thinks

it's dead and he's like resuscitating it with some weird superhero fan. No, it's not superhero fantasy. It's a Jesus fantasy. That's what it is. He's very religious. That it's official. I want to number 55 percent, would you feel more comfortable

if it was a lot higher, say 80 or 90 percent? If they did that, would you be more accepting in the layout to the rollout and a mechanism of having a higher percentage for an activation? So the whole idea that Luke is kind of relying on here is the same that got Segway activated, even though a small number of people are UAF something. As long as the BIP isn't objectionable, as long as people aren't actively fighting against it, like, they'll probably let it happen so long as they don't think it's too harmful.

And that's where he's messed up here. Segwit wasn't really that harmful. Like nobody actually thought. I mean, a couple of B-cashers were parroting that it was, but like, welcome to misinformation city, Bitcoin station.

It's not actually harmful. This BIP, just inactivation we talk about is harmful. If they were to change those things, great. That's a step in the right direction. Let's talk about the 20 other things on the list that we need to do to make an acceptable BIP.

And by the time we're down at the bottom of the list, we're going to be asking, why did we want this for, in the first place and it's to stop an imagined attack of abusive material? Where is this attack of abusive material? It doesn't exist. Where are these laws that are allegedly going to be putting people in jail for having, you know, objectional material pass through their note? Where is the legal advice that suggests this is true? A phantom has been created. A fear campaign is being waged built on strictly verifiable misinformation. You want to see if spams a problem?

go check the fees. What are fees right now? 0.1 sat per V byte. You can't be upset when people are filling the blocks of space. When they're just consuming the basic block space and it's free, there's infinite demand for free block space. You want to stop that? shrink the block size.

That's not anywhere in this bit. They ain't shrink of the block size. They aren't doing anything except for, you know, screwing it so Bitcoin can't upgrade in the future, making some coins unspendable. they're doing things like that, but they're not stopping spam, that's for sure. And you know what's the best part is if you read the BIP,

they repeatedly acknowledge that. The best part of this BIP is reading it and seeing how often they argue against themselves by acknowledging, yeah, you know what, we can't stop spam. This is not really going to cause the many costs. This could make coins unspendable. Like, they say it. They say it right there.

It's crazy. But how many people are actually reading that? Crater, why the fuck aren't you reading that? why are you so obsessed with Adam back and what he does or doesn't do with his investors? Again, fuck Adam back, but holy fuck. Read the fucking Bip. You're leading people like Buffalo off a jump.

And you're gonna, you're jumping out of the way. I know you're not gonna be caught by this. All the people that are advocating for this, like do I actually believe that Luke is sticking with this if it doesn't work? No. Luke Jr. is, he's fucking off.

If this doesn't work out for him. And the majority of, if this doesn't become Bitcoin as he sees it, as like I said, he thinks Bitcoin is dead. That's why he's willing to go to such extreme lengths in this ridiculous, ridiculous fork. Anyways, I'm sorry. No. I'm passionate about this issue. And I love hearing the question. It's too bad that it looks like you.

And I mentioned it in the past. What was going to happen to Luke if this doesn't get adopted? And if he believes Bitcoin is dead and he fucks off, we essentially lost. we essentially lost a talented coder that. Yes, that's true. It's just, it's a net loss. And he has a lot of valuable insights. He's a smart guy.

Yeah. And it's too bad. It may turn out to be, that's the reality is he may just be lost. He may be collateral damages in this war. But, you know, it's too bad. The BIP 110, like you said, there's even jargon. There's even talk about in the BIP, but certain coins being potentially unspendable. And that is acknowledgement based on what they know.

The stuff we don't know, which could come out as a result of this, like the unintended consequences, who wants to risk having any coins being potentially unspendable? That to me, it's crazy. I don't even think about that. Well, they're removing op if entirely, right? Which, you know, I've been advocating for many years now. People adopt more sophisticated and advanced means of securing their coins so that what happened to Luke Jr. and they lose all their money doesn't happen to them. Right. So using tools

like Leanna Wallet, which allow you to through a visual interface like build Bitcoin scripts for your inheritance, for your family, for an elderly family member that needs, you know, maybe has dementia and needs limited access, controlled access to their funds. You know, Bitcoin enables these kinds of advanced scripts. But with this BIP, B110, the maximum script depth on a tap tap root tree is seven, seven tap leaves deep. That's it. You know what they say in this bit about people who might lose funds because they can't spend it because it's on a tap leaf tree too low? They say, well, the most common spending methods are probably the top. So they'll just use a different spending method to get their coins. That's literally, I'm not even messing

with you, Len. That's literally what they say. Because they enumerate so many of these criticisms themselves in the BIP. It's illuminating to read what they think of these criticisms. They genuinely don't believe that they're a concern. They have no problem with the idea that some people somewhere God, I hope that none of the people that I've been mentoring to like use some of these advanced methods or maybe using off-if scripts like accidentally get locked out because of this ridiculous, ridiculous BIP.

So how do we deal with quote unquote spam moving forward? If there's any acknowledgement that these type of data that's put in a Bitcoin blockchain, that it doesn't have any monetary value, is there any way in which this can be stripped moving forward and we just have monetary transactions that are being encompassed in a Bitcoin block? I think I just burped in Ireland. I'm so sorry. Yeah, so fighting spam is, it's important and it's something that we've always been doing because it's always been a problem. We got very badly spam attacked during the block size wars.

There was a point where a shit coin was 40% of Bitcoin transactions. Spam is kind of built into Bitcoin's DNA in that it says, okay, you want a denial of service attack me. It's for sale. Send me all of your money. Jack up those transaction fees. Like, let's make high priority transactions. No one else can do transactions because we're spamming so much.

We're consuming all the resources. You got to pay for that. And we bankrupt attackers. Sometimes it takes months, sometimes it takes years, but we bankrupt to them. And that's, for example, what happened with the attackers that this BIP says are attacking right now. They're not, not really. I mean, the inscription people, the people who were abusing Opif, some still are. When they started doing their business for months, we were at like 200 sets of byte.

200 sets of V bite was our fees. Like they were crazy, crazy high fees. I hadn't seen them since the block size was. because it was a spam attack. And people were right to call that out. And I was calling it out at the time. And you know what we said at the time was the exact same thing we said in the block size or it was the exact same thing.

We say when the shit coins are 40% of all Bitcoin transaction. We say, okay, well, we wait for the economic model to work. We socially disincentivize spam by strongly campaigning against these scams and spammers. And we allow these fees to destroy the volume of the spam until it's like nothing. just what it will fit in any spare space in the block, basically, because that's all you can afford. At that point, they've bankrupted their, in the scammer's case, it's their victim's money.

And they move on to the next scam, you know, like it was counterparty at one point on Bitcoin. It was ordinals next after, or runes, sorry, after ordinals. It's one scam after the other. They transition, reprint the same NFTs. Off we go again to the next races. This is how it's always been. this is

this is not an exceptional state this is how Bitcoin has always been and yeah sometimes all the time we get attacked and this is how we deal with it and it worked exactly like it's supposed to work in the case of inscriptions and ordinals and all this garbage fees are now back down

they are simply consuming what empty block space there would be and nothing else that's what emergency let's move on from this let's talk about the next thing well quantum is something that seems to be on people's radar, but it's also seen to be another phantom,

um, phantom, uh, problem that she's got to be solved. Like it's, it's, it's fear. Fear is motivating so much of this.

Don't you find? Yeah. It's the BIP 110 and quantum. They go hand in hand and the, the fear tactic to try to solve the problem that may not even exist. So, it gets views, right?

Like it gets people's attention. It's exactly like, you know, how the news is, or you see. to be, you know, you tune into the news and it's all murders and robberies and you'd think that your neighborhood's burning down, but it's not. You live in the city. There's always at least one murder. There's always at least one robbery. Like it's statistically insignificant relative

to the whole. It doesn't represent the whole picture. I want to double back. You were talking or asked me if I knew of any miners that supported BIP 110 and I said no, I just want to make a, I just want to bring up, maybe Ocean does. Yeah, Ocean's going to. Ocean's going to with one of their templates, which is about 80% of their 2% hash power. So in overall,

grand scheme of things insignificant, but if you're just looking at Ocean, they then heavily support it. That minor will probably support it. Right now, they aren't. But they likely will once Nott's deployes the BIP. Because Nott's hasn't deployed it yet. Right now, it's only on its own

little fork. I'm wondering then if they do that, if once Ocean goes ahead and supports it officially, I'm wondering if hash power, at least a measurable amount might move over because people support it. That would be one way to dictate if there is support on a minor level. Oh, well, that's what they're doing right now. I mean, if there was minor support, it could signal right now. We've had four activation periods. It could activate right now. All they have to do is whim it. If they whim it, then it is done. at least for those people that are running that BIP-110. Honestly, for me, if it ever came to that, which I don't think it does,

I've seen no evidence that this is going to have any kind of support from any kind of businesses. There's no money behind this. There's no... I was just going to go there. If this dies on the vine, what happens with this? Because it sounds like I think that somebody might be funding this whole initiative. Right? Where do you even see the money being spent?

Like there, I don't know. It doesn't seem. It's just an angry, angry man who's been angry for a long time taking out his frustrations in one final hurrah. I don't know. I think it's more than that. I think there may be some economic incentive here. Maybe somebody's funding this from the outside. But like what are they funding it on?

Like what are they spending money on? To try to hurt Bitcoin. no, I understand that, but are they spending it on like bought campaigns? I haven't seen any significant support of this outside of like two influencers. Where's the money going? What's it being spent on? I don't see any campaign that's spending money. Well, I don't want to say anybody is bought, but you know, you have Luke, you have mechanic.

Luke mechanic, crater, Nico. Nico, yes. So there's, you know, a few people out there. And you're drumming the support. Four and two of them, if you include Ocean, three of them are all the same financial entity. So, like, we're talking three distinct financial entities total. And none of them have very much money that we're aware. But it's this squeaky wheel here.

They seem to be getting a lot of press. This is, this is, you know, when I talk to people, they, about this, they don't make any technical arguments. We don't talk about any of the things that we've talked about today. When I talk with people that support this, we talk about moral arguments and legal arguments. There is among this population, I think, a couple is very significant misunderstandings of what Bitcoin even is. For example, the current motto at knots, literally the branding is Bitcoin is money. And yeah, it is. It absolutely is money.

But it's other things too. It's a trust revolution. It's protocol. it's yes it can be used to store arbitrary data and yeah we should create incentives to make that arbitrary data as small as possible and make sure they're paying full price for it we can't be allowing them to hide in discounted block space i completely agree we need to fight spam you ask what the fight against spam looks like it looks like you running your node and it looks like you choosing what you relay and what you store and it looks like hopefully in the future developers implementing better

tooling to express individual node policy that's what we really need that's what is almost being subverted by this whole BIP 110 thing like we were in the process of holding core accountable for some pretty egregious breaches of trust if I'm being honest pretty egregious breaches of trust and now that has had to be totally sidetracked by this clown show out of Luke Jr. in the Knott's community in BIP-110. It's sad. I'm very sad about it. It probably is going to delay us holding core responsible in any meaningful way by like years.

Yeah. You got to wait for them to fumble the ball again. And that time, who knows what the damage is going to be. And then something I don't want to think about, but we will have to address it, though. one thing I'm kind of, I want to say disappointed, but I'm just shocked that there aren't a number of core clients. I'm a number of Bitcoin clients out there that we could use. I know there's not, there's core, and there's a few others, but considering how big Bitcoin is, how many users use it,

I'm just shocked we don't have a shitload of clients we could use and to give people variety in which we could choose to run and give them some flexibility. Like maybe this is an opportunity that we could have some people get a fire lit under their ass and get them to do that. Maybe some donations flowing their way. But man, we need more clients. We need more alternatives. We've been talking to some nonstop in the Bitcoin Discord. And, you know, it might be going somewhere. So are you familiar with Lib Bitcoin kernel or some of the other internal libraries of Bitcoin Core?

I've heard of it, yeah. So basically, Bitcoin Core has all these internal APIs. and libraries that it uses to do various things. One of them is Lib Bitcoin Corp. Lib Bitcoin kernel. And that contains the consensus library as well as a couple other libraries. And so you can use that. You can extract that from Bitcoin Core and use it as a basis to build a Bitcoin

core compatible node that competes with Bitcoin Core. That isn't just a fork of Bitcoin Core the way that knots is. And the Bitcoin Discord has a number of more technical users, as well as a couple kind donors who are talking about, you know, how do we start a node project? How do we start building on, for example, live Bitcoin kernel? And right now, the status of this project is maybe like four, five interested people, not really many, but like a few. I'm one of them. I'm more thinking that I'll, beyond the resource giving side than actually doing any work because I'm very lazy.

But yeah, so we're exploring, making maybe like a, we're thinking maybe a Java client on top of the Bitcoin kernel. Java of all languages. Well, the thinking was that Rust would be better. We wanted to maybe do Rust, but the truth is that if the goal is popular support, and like development effort to attract developers. There are a lot more Java developers than there are rest developers or go developers. No C++ or C?

We already got that. You already got C++. You got in-house. I look at that and it seems to be, you know, C is the godfather of all the languages. isn't it? If it was my preference, I would do Rust, but I think that for practical reasons,

anytime I'm choosing a programming language for a project, it's very rarely the language that I would prefer to use as the person making it. It's the language that I think I'm going to be able to hire people in. It's the language that I'm doing basically a cost analysis in both time, effort, and money for every given language in the things that I expect of the future,

the spacetime cone of possibilities that I expect of this project. And oftentimes, for example, I hate JavaScript, but I'll end up using JavaScript just because it's universally deployable. It's everywhere. I wouldn't call it lightweight, but like it runs on anything. And yeah, it's accessible and it has the largest population of developers I can draw from. And they're cheap because they're bad. But that's beside the point. Sorry, JavaScript developers. So I guess at the stage right now that you're at with this project, it's still drawing room stage.

We're still just spitball and we're examining conceivability. We had a weekend. One of the people of this group of four or five had a weekend little hackathon with Lib Bitcoin kernel and found it very, very easy to build a proof of concept node and thinks that it's a viable project. So that's where we're at. the most initial beginning stages of something, which will likely take years to reach maturity.

And anybody that's interested in learning more, you go on Bitcoin Discord.com, and you'll be able to get directed there to the Bitcoin Discord. Bitcoin Discord.com. Can I, I don't want to give you whiplash, Len, but there's something that I came on here that I really want to talk about. I know I want to talk about it, Canada. Yeah, I want to.

I want to talk about Canada, you guys. Let's talk about Canada. We're both Canadians. Yeah. This is the Canadian Bitcoiners podcast. Canadians gather around. Let's take a knee. Let's do it.

Let's talk about this situation that we're in geopolitically. We're, you know, as Carney called us, we're a middle power. I think that's an accurate description as much as I very much resented that speech in Carney himself. We are a middle power. We don't have a lot of leverage. but there are proven ways to get leverage and that's what we need in the context of being

set by China on one side India on the other and the US below us we've got we're surrounded by giants and juggernauts that eclipse us in everything except for possibly available natural resources and that's a problem we need to become a power broker both literally and figuratively

I propose to you Canada we need to do two things we need to generate an enormous sum of electricity and two we need to mine bitcoin let me tell you why first if we have a lot of power that's basically both in bitcoin sense is another the currency of the future it's what's required for all this AI data boom stuff you need you need data centers for housing all of these things and you need a lot of power feeding those data centers and a lot of freshwater cooling. We've got that in space.

We are perfect for this. We can build so much a green energy in the form of hydropower and small modular nuclear reactors. We can lead the way, just like we did with Can Do. We can lead the way in nuclear reactor technology have small modular designs. This power part of this strategy

gives us leverage. Every military in the world is going to want the best of the best in small modular nuclear reactors for their warships, for their whatever's. Right. It's going to be key technology, especially as it miniaturizes. We need to be on the forefront of it. Two, every country, every consumer group it appears, wants to just throw compute at things.

We need power and compute. We need all of that stuff. That gives us leverage with people, our trading partners. So that when our trading partners threaten us, we can have something to threaten them back with. You don't want to play nice with us America? Well, you're not getting our nuclear reactors. You don't want to play nice with us America? Well, not getting our power.

We've got Bitcoin. They want to threaten us by saying, like, say, do what we want or we're going to stop buying your power. Fine. We mind Bitcoin. We have an infinite buyer of last resort for our power in Bitcoin. And we don't have to buy batteries. We get the most robust energy grid in the nation. We get Bitcoin miners subsidizing that.

We get geopolitical power. We can be, you look at states like Saudi Arabia, Kuwait. You look at places that are like oil states, for example. They've been using power in exactly this way. They leverage it. We can do the same. Electricity is going to be what it is in the next 20 years, 50 years. Like, let's set up for it.

Let's, you want to talk generational investment? Forget, you know, shitty loans through the Canadian investment bank, Mark Carney, building the houses. Let's, let's build giant power plants and then giant neighborhoods of houses right beside them. Like, let's have some huge spending, investing in Canada in the future and put, making a Bitcoin treasury while we do it. Imagine 20 years from now what a Bitcoin treasury would do to our welfare state. You want to see your taxes go to zero, sacrifice a little bit now. and let's just retire the whole country on Bitcoin

the same way Norway did their sovereign wealth fund, which we should remind people was modeled after Alberta's failed heritage fund. There's a way to do this. It's power and it's Bitcoin. Vote Mr. Arnome, 2026. I will vote for you if you're right.

The problem is, is having, in this political climate, the initiative to try to sell, build baby build with the, with SMRs and other energy generation stations, it's going to be a challenge. I'm with you, but the initial cost is going to be huge.

They'll be more than happy just to find ways to spend money elsewhere. And we'll deal with the electricity in the future. And I think having electricity as a scarcity gives the people in power more ability to maintain power, so to speak. It becomes a tool that they could leverage in the future to try to push power to certain areas and try to limit power in other areas. Because if you look at Ontario, for instance, we are starting to build more nuclear reactors. But up until that point, it looked like we were going to be in an energy deficit.

Quebec is estimated to be an energy deficit in the not too distant future. And they, you know, they have seen we have unlimited power over there. All these provinces, BC too, they're sometimes in a. position of being in the red with energy generation. It seems to me that's just the norm. And it's going to be a bigger norm. As people ditch

internal combustion engine cars and buy EVs, that energy has got to go to somewhere. It's going to go to those cars. And it's not going to go to your cell phone, your AC, your... Rates are going to go up a lot. That's for sure. Yeah. And I mean, they already are. And even just, yeah, utility

bills are insane even already. And it's only going to get worse. This is another reason we need to invest in this and it's going to create a lot of jobs not just out like the power plants and the communities that they support but like all the industries that cheap power attracts you want to bring aluminum manufacturing back to canada back to quebec you know how you do that cheap power give them basically free power because it's so subsidized by the state you just got yourself a thousand new jobs like you want to bring manufacturing to Canada cheap power that's how you do it you don't need to compromise on our safety standards you don't need to compromise on our wages We can cut their costs in other ways that are good for all of us Canadians, not just the businesses we attract. So how do you do this? How do you sell to the people that, aside from a conversation? You've got a spiel. We need to vote, noem 2026.

So these ideas need to get out there. Somebody needs to be championing and advocating for them. You know, it's really sad. I know a lot of people like to pretend that the Conservative Party of Canada, ever supported Bitcoin. You know, when the reality is, they were just pandering a little bit, doing shitcoins too,

never really proposed a pro-Bitcoin policy in any way. There is room for a politician. If they're willing to pander to Bitcoiners, like, let's actually pander to Bitcoiners. I think that there is overlap in what is good for everybody in the nation and what Bitcoiners want. Bitcoin is good for Canada. We just, it's like you say, it's a PR fight.

do you believe that PR fights can be won? Do you believe that nuanced arguments can beat simple, effective ones? I don't know. It's a hard fight, but I think it can be done. Absolutely, it could be done. Anything is possible with enough time and effort. But what's important is it's the right thing to do. Right.

The solution to so many problems. That's why we need to do it. Yeah, it's a hard thing to convince people to do. No, it's not easy to campaign on. But it's what we should do. We need to invest in power. This could be an election issue if and only if there is a large voting block that can move the needle on an election.

And I'm talking about you need a lot of Bitcoiners out there that truly believe in a particular issue. And that's right now, unfortunately, Bitcoiners, they don't have numbers. They're few and far between. And even, you know, if you say you're a Bitcoiner, How many people are truly Bitcoin? How many people run their own know? Like, you know, there's a lot of people out there that they say, you know, they're into Bitcoin, but in reality, they're still neck deep in Fiat.

So just the number of people that truly believe in this initiative, I think it's fucking small. I agree, especially people that are like willing to put their neck on the line for it anyway. But the truth is, is if I don't think you need some kind of super majority of people to get this to become an issue. I think you can make something become a political issue with effective kind of inserting yourself into things, whether it be as a protest, whether it be as a leading question to a reporter, whether it be an article that's highly visual publicized, be it a viral video. There are so many ways I think that you can attempt to bring an issue to the forefront of a discussion,

and that's what lobbyists effectively are trying to do. I was just going to go there to lobbyists route. the United States that there seems to be a movement to have Bitcoin the narrative brought a Bitcoin to politicians like congressmen and senators and it's not our narrative it's Coinbase's

narrative it's somebody's money narrative it is a narrative that is inherently anti-Bitcoin pro-shit-coin scam and it's a bad narrative we shouldn't be for it and you need to look no farther than the US to see what happens can't tell you how many bitcoins I

told that we wouldn't be getting a pro-Bitcoin presidency out of Donald Trump, but we certainly haven't. Is it any easier to access or use Bitcoin today than it was then? No. If anything, they're prosecuting bitcoins like, for example, Samurai Wallet. They went right after that. They are tightening the tools that we can use for anonymity. They are still talking about things like whether they should allow us.

to have wallets. It's, it's, I just don't feel like they've made any progress in any way, shape, or form.

Progress. Well, on one front, they've made progress. And I would say that they have at least some Bitcoin on the balance sheet that they, they are choosing not to sell. Okay.

Now, how they got it, you know, we may not like it through confiscation, but they confiscated it, they have it, they don't intend to sell it. So that's, I think,

that front, the fact that they acknowledge that Bitcoin is an asset they want to hold, I think that's, the very least, that's a win. That's the only one I could see. You're absolutely right about that. I guess when I'm thinking about pro-Bitcoin policy, I'm imagining more pro for like the citizenry, like better Bitcoin accessibility, less, you know, maybe KYC stuff, maybe some, some laws or regulations mandating that most exchanges be non-custodial. Like, we don't even need any complicated. we can reduce regulatory requirements. I've never understood why conservatives can't get behind.

So I'm not a conservative. But I know most conservatives in my life, they hate regulation. They hate all of that make work bureaucracy that comes from things like the federal government, that it annoys them. Why don't we use Bitcoin and then they don't need to do things like KYC so much because we can profile the Bitcoin transactions or we can use like, say, a zero knowledge proof identity system that doesn't require we disclose all of our

personal information to, you know, everybody. We build that on top of Bitcoin. Well, in reality, everybody that's in power loves to have that Of course, because that is the power. It is the power. And that's why nothing's ever going to get better until we form a grassroots movement to political party.

And we make it better. We need revolution. Trust revolution. Let's make it happen. There may be one a foot. And because I'm looking at what's going on in Alberta, there seems to be an increased desire to have Alberta separate from Canada in one way. Either go independent on their own or maybe get gobbled up by the United States. Also in Quebec, the provincial sovereign party, it looks like they're gaining some support there.

So you have these two fronts on two different sides of the country, of people wanting just to be on their own. They don't want to be part of the dominion. that's going to be a fucking problem for Canada. And see, that's going to be the thing that politicians are going to probably address first. And I can understand why they want to address this first. Something like dealing with Bitcoin, power generation,

building up that to try to become a power broker of the world, that unfortunately is going to get a lost in the sauce. Well, but what that really is, the issue that is, is that's the U.S. attacking us. That's having to get in bed with things like China and India.

That's like these are, we're, We're in a position right now where we are the world's football. It is not a good position to be in. And we need to grow our strength so that we are negotiating from a position where we have leverage and power literally and figuratively. So like it to me, it's about that because I see that as the biggest issue that affects Canadians. It's not about the power. It's not even about the Bitcoin.

Both of these are just tools to address the problem that we're in geopolitically right now with the states. Like anything, you have to extensuate your strength and hide your weaknesses. What are Canada's strengths? You touched upon it. It's the natural resources. But we have been hesitant to bring that to market some of these natural resources. Why? I don't understand.

I mean, I kind of get it. There's the environmental narrative behind that. But the reality is Canada's blessed. We have lots of fresh water. Nations would love to get that. We have energy like gold, natural gas. We have coal. with uranium, we have gold, diamonds.

There's so much here that we have to offer to the world and ourselves. But for some reason, there seems to be this sticking point of the environment. It's bad to do anything to take stuff out of the ground and bring it to market. But then at the same time, you fucking have China building coal plants, like an enormous amount of coal plants that offset any sort of gains that you make in Canada would try to reduce your greenhouse gas. I look at this and it's just I'm just shake my head this is fucking stupidity so

my ex is a geologist works in a mine in Canada here and I'm a fisherman I like to fish we got all these freshwater lakes I like to fish I don't like that

I have to be very careful with what fish I eat because of the selenium pollution in many of our lakes and streams near mining projects because my partner worked out of mine. I obviously lived within several kilometers of the mine, downstream of the mine to some degree. And it's not like the carbon we're putting into the air through the mining that I'm so concerned about with the mining. It's what are we going to destroy our freshwater resources because that to me would be very foolish if we severely negatively

impact our freshwater resources to trace a couple short-term gains in a mine here or there that's fair i don't really i buy that i i i totally am on board with i you don't want to destroy something nearby especially something that is potentially valuable to a lot of people just for the sake of short-term profits 100%. I like if we could mitigate the harm of some of these pollutants, like the problem with the selenium pollution is we haven't figured out anything we can do about it. It's not even like there's a solution and it's expensive and we're not doing it. It's just we haven't figured out how to do anything about it.

And that makes it makes a lot of mining areas very concerning because mountains are often where you do mining or mountainous regions and water tends to flow downhill. Yeah. I'm wondering if there's other areas that are far from anybody and far from anything that is. Oh, yeah, they are. But then the water flows downhill and it crosses the provinces and it goes into states sometimes and like it flows from big country. A lot of water in it, a lot of connected bodies. Yeah, I get that. I'm just wondering if there are places out there that. They're got to be.

They're got to be. Right. And that's the ones we should be exploiting. Absolutely. It's just, I think that in those cases, there's always, it's like maybe they're too far away from population centers or things like that. Exactly. Exactly.

Like, Bitcoin solves so many of the location specific problems, logistic problems of some of these projects. And I wish that they understood that, but they don't. Yeah. It takes very little to set up a Bitcoin mining operation. simply just I'm maybe very much over simplifying things but having a trailer drop there with somehow you're powering it through a generator nearby and maybe gas or whatever and you have

internet from the sky from maybe from Elon Musk and boom you're off to the races it's you're exactly right that is how you see those like they're they're great so like I've been to a couple sites that have them and they're exactly as you describe and there's a couple companies that do them like turnkey you don't even have to think. They drop off the container. They turn on the fans. They set up the natural gas generator. So it's usually coming from like a mining site and they'd otherwise be like flaring.

Yeah. The waste gas. But instead they feed it into a generator and it mines Bitcoin. And you get so much less pollution. So like people who tell me Bitcoin pollutes make me crazy. Bitcoin is a revolution in power logistics. And that also means green energy. it funds and subsidizes renewable energy,

just like I was describing it could do for Canada. It's actually kind of amazing at capturing trapped power. Do you know how much power we just dump it into the ground? Spoiler, 30%. Do you know how much better it would be to just mine with that? Just monetizing that simply, yeah. And if you graph power generation for a country and prosperity of the country, You'll see that there's a direct correlation between the prosperity of the country and how much energy that they produce.

It's very rare. You're going to see a country generate a lot of power and not be prosperous. And also the flip, you won't see many countries out there that don't generate a lot of power and also is very prosperous. There's not too many examples of that. So it just makes sense. This is what I'm saying. I'm 100% on board. I don't think Canada does a lot of venting, flaring, yeah.

So this is just one way that, for example, I'm not sure if you've seen these before, these upstream data containers. It's a prominent guy on Twitter stuff. They're one of the ones that does the CCANS full of miners, right? Yeah. Yeah. And they try to simplify this in such a way that they make it very easy just to set it up. You have excess energy that you have. They'll come in, set it up, and that will be monetized.

that's a not just Canada the world should be doing shit like this yeah right this is leading the way and selling it like forget even letting some company in wherever get rich off this why isn't there a crown corporation exporting brilliant Canadian ideas like this that everywhere in the world should be using like man I'm such a commie I just want I want the state to be big and mining Bitcoin and funding of my luxurious lifestyle while I fill the loo any sort of blessing of Bitcoin is going to be detrimental to the longevity of that currency, the currency that they support, right? You can't have a country go out there and start saying good things about Bitcoin, but also saying good things about whatever currency they use. I don't agree. I don't agree with that at all. In fact, I think that the smart country, here's what they do.

And here's also what Canada do should. Again, vote in home 2026. What Canada should do is we should be. back our treasury bills with Bitcoin smart contracts, literally Bitcoin locked in contracts, their time locked that expire at the time of maturity. I want to literally back Canadian debt with Bitcoin we mine. And that way, people who invest in us, they are guaranteed some form of return on their T bill, regardless of what government is in power. They don't need to trust Canada, regardless of how we inflate the currency. You get to have more

faith in giving Canada debt, in letting Canada print money because we're using it to give you Bitcoin. And you can make sure that we are going to do that no matter what, because you can execute it through Bitcoin script. You no longer have to trust us. There is a move here in which we can use Bitcoin to make Fiat better. To make Fiat stronger, increase the debt we can actually achieve with FIA increase this ridiculous bubble because now we're backing it with something. Now we're actually putting a backstop on it and saying, see, you can actually trust us at least to this degree, at least to that degree. And when we're looking at T-bills that, you know, have a decade-long maturation rate, like,

what's Bitcoin going to be in a decade? Yeah. Like, what's going to be the actual value? We're going to be five years are going to go by and people are going to be like, holy shit, Canadian T bills from five years ago are we're working. worth 10 times the value of the T-bill. Like, you have to buy Canadian treasury bills because they're the best investment you can get. It'd be awesome to see that.

Forget Michael Sail. You want exposure through micro-strategy through Coinbase? Like, no, no, no, no. How about completely tax-free T-bill investments with guaranteed Bitcoin kicker returns? How about that? Yeah, as long as you control. the address that it's going to be sending to it at the end of the maturation period. Yeah, well, you would control the unlocking script on the time lock.

You would have the key for it. So you would be able to unilaterally know you can unlock that. You're not trusting anybody. You have the keys. They're your keys to that T bill. That would be monumental, but you know, let's be honest. Nobody's going to do that. Except Mr. R.

Nome. So vote Mr. R. Gnome, 26. That's what I'm just write it in. Just big level. letters over what doesn't matter if it's a municipal election doesn't matter if it's a provincial election if we have a surprise federal election you better be writing in it just write it in big letters that people are going to be like oh there's millions of spoiled ballots what's going on and

you're going to be the one that knows len you're going to be like oh i know what happened here everyone wrote in mr arnoam because he has such a good bitcoin energy policy oh what a smart guy that guy. And a good vibe too. I would say focus your attention on building a competing client or a new client. I think that's probably the best. Are you squashing my political ambitions one? Unfortunately, this movement won't have enough steam to get even a blip on the radar. Wow. You see what he's saying about you Canada? He's saying that your support of my brilliant ideas isn't even going to be a blip on the radar. I'm I think I'm notorious for this I think it's a lost cause that's the reality I think what we have

here is done and we're living on borrowed time and people have to make make arrangements to figure out where they got to go to next I don't think it is yeah and it's sad I mean I was born here but I make every effort to not die here I don't know that we need to necessarily because the truth is is everywhere is getting pretty bad I don't think you necessarily need to leave right now I think what you need to do is be prepared. You need to be using Bitcoin so that you always have accessible capital you can use to escape if you need to.

That's what you need to do. Have yourself safe and secure with options to get out. You're no longer in the real estate game, right? You've ventured off the... Well, yeah, yes and no. Yes and no. That's a fucking money pit. That's a rabbit hole you don't want to go down.

Well, tenant rights, they are so strong. That's the ticket. I decided that I didn't. want to be a landlord for other people anymore. I just wanted, you know, my own little McMansion. So I reinvested all the money I had in real estate

into a giant primary residency. That's the way to do it. Fuck everybody. You've earned it. No, it's not the way to do. I mean, like we're some of the most expensive housing in the world here in Canada, especially in Vancouver and Toronto. Yeah.

What's going to do? The good thing is, you can do later. You could sell it later on for probably a profit. As long as things don't go tits up, but we'll see what happens. Oh, I hope not. We really need some reform on housing. We need cheaper housing. If my housing investment collapsed, I'm happy. I just, we need reform in that regard. If it collapses because of not reform, but because the market just capitulates and you have now the bank becoming the landlord, these people are just walking away from mortgages. You're in a situation, 2008 situation,

but much, much worse is in 2008, everything was a much smaller amount. Now everything is magnified because of dollars are worth much less. More people now have risk in real estate. Interest rates are much higher now. Canada has, I think, the fourth most debt in the world. We're in for it, man. That's like I can't buy enough Bitcoin.

72.9 is showing on my block clock. This fucking thing is on sale all the fucking time. Just keep buying. I'm like, I want, I'm so, I'm so desperate to get some more. Like I need to be, I need to immediately be earning more. And I'm so crushed because I just, like I said, I just invested in my dream home. And I'm like, oh, do I immediately sell it and buy Bitcoin? No, you got to live.

You only have one life, depending on what you believe in. but that one life make it the best for you yeah you could live for today but also live for tomorrow there's you know don't be everybody needs to look at their own context right yeah like it's i'm at a point in my life where i'm ready to retire i'm an old man but a lot of other people aren't at that point and they maybe should not spend on frivolous things like i am they should save and that's good especially when Bitcoin's down save your money buy more Bitcoin

please it's a good idea do it Noam you're young enough to be my younger brother don't talk to me about that one That is the truth For an hour deep I think it's time we should just cut it loose now but before I do In case anybody wants to reach out

To you at home Where could they find you? I know you can find me at Bitcoin Discord.com and BTcmaxis.com. We're always at the Discord just chatting away, talking about what a handsome fellow Len is, you know. That I am. Doing our best to change politics. Are you less and less active in a Discord these days? Well, I've, sometimes it depends.

I go through projects, right? Like I think most people do. And when you've got a project, it demands more of your attention, you know? And then projects done. You're back to Discord. It's how I feel my free time. But I've got less free time. Sometimes I got more.

That's fair. Noam, I want to appreciate you taking time to come on to show you. Like I say, the red carpet, I'll always roll it out for you. Doors are always open. Thank you for you for having on. Such a bad guest. Thank you. With that, everybody, take care.

We're back at this on Monday. Yeah.