The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Where is the SBR? Gold Revaluation & Hiking is Verboten | The CBP 227 Pt 1

Episode Date: August 13, 2025

FRIENDS AND ENEMIESJoin 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: https://discord.com/invite/YgPJVbGCZX 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.

It's 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 Levin Joe E. Spots is taking care off right off the top. Oh, Bitcoin and Easy DNS, the media is feeding a sloppy.

doesn't matter what topics discussed quality entertainment and information you can trust uh that's being planned or at least discussed you know we're not going to allow quality entertainment and information you can trust send the guys some value boost them with some stats bitcoin is the scarcity asset i mean it's just a fact geopolitical national down to the local cloud yeah send us some stats i totally agree friends anatomies welcome to another edition of the canadian bitcoiners podcast i'm linda legend And then Joey's off this week. He's spending some time at the cottage. So filling in for him is Boomer Boomdust.

Or what other names do you go by if any other? Tom Hanky, Dwayne Ward. Yeah, yeah. Who are the Expos top relievers of all time? Wetland. They had wetland. Yeah, they had, gosh, I can't remember who else. Who was better?

Like, wetland. During the Dennis Martinez era, who was? They never heard. Tim Burke. Yeah From Burham Yeah Nothing special

Whatever Ken Hill was the starter After that He was Yeah He was after Dennis Martinez But I can't remember Who are the closers

Well I appreciate you coming in Once again For Joey Who has to take some time off To recuperate Because he's been doing A lot of interviews lately

And we'll be talking about Just a moment And You know what Let's just take the two things Off my list I got to get them done Two sponsors

Let's talk about them right away. I see that you got somebody popping in. Is that your job? Yeah, I'm on vacation. I'm on vacation here. So it's, it's a different ambiance here. We'll talk about that in a second. Do you want to do the EZ DNS role? Easy DNS. They're the

flagship sponsor, right? They've been around for how long now since the early days of the internet? You know, Tom. Oh, they've been around longer than two years. Oh, for sponsoring us. They've been around since the late 90s. Yeah, yeah. Like, they're OGs in the

space. All your web hosting needs you like private servers private emails setting up like a domain name they got stuff that'll help you do a website like i signed up i used the code in in the description i used it cbp media got 50% off i uh i hosted a website for a year i did it for a year and if i can do it then like literally anybody can do it i did have to call in a couple times to the line like the email and Tim over there at EasyDNS help me out so yeah

so you are a client you used the service you understand so you set up your own website you did it from scratch you created you registered a domain name what's the domain name you registered to let's plug it well it's not active anymore because I let it expire

I wasn't a great client once I that 50% off expired and I had to sign up for another year it got too rich for my bloodlet sats were cheap at the time like I need this to accept I literally wasn't getting any hits on the website and I thought like well maybe I'll do it

I'll try it another time you gotta talk to the right people you got to talk to the people that could send bots for your way you know the people that that does the word of the week the word of the week I see on Twitter X is slop AI slop right

and so apparently I won't go into it I just you know a lot of people are getting upset at this. A lot of people are being called out for doing whatever it is. You know what? No slop here tonight. No slop. We don't slop over here. This is a slopeless place. Yeah. The CBP on a Monday night. No, Henry God went over here. No, the other sponsor of the show is Bull Bitcoin, right? You're talking about cheap

stats. I will say that stats are cheap all the freaking time. And I don't know what's 1-18.9. That's showing my block clock. We hit like 121 today, I think, right? So. Maybe you've got any higher than that. We had a late night, one of those like patented Sunday night into Monday morning rallies. And what the fuck happened? You know what? Whatever the fuck happened, Bull Bitcoin has you covered.

You could buy. You could sell with them. You could do it on chain. You could use lightning. My note is still down. I'm only a week behind right now in the, uh, the sinking. So I can't check my node to see what are the fees. But I think they're still cheap.

But what the fuck are? I know I'm just, you know, I don't have anything to verify that right now. Bull Bitcoin. Let's continually talk about them. Aside from just buying and selling, you could do other things. You could pay your bills with them. So you can start paying your bills with your Bitcoin over there.

That's rather cool. And also, if you have to send money to somebody, like an e-transfer or something, don't send cash. You can send your Bitcoin, which gets converted to cash. So a lot of different options you could do with bold Bitcoin. Non-custodial, they've been around for a number of years.

They have your best interest in mind, privacy, you name it. Check them out. Use our promo code below if you have not, already sign up an account. They're available. Canada, Mexico, Costa Rica, Western Europe, probably some other countries, too, I'm missing. But either way, check them out if you haven't yet already done so. They are wonderful. And you know what? It's time to get Francis to come back in a show to talk a little more. Because in fact, there's one thing I missed about them. You could buy through the Bow River Credit Union in Alberta. Directly from there, you can buy Bitcoin.

So just one of the recent things that Bill Bitcoin has offered. Anyways. And their liquid wallet on mobile is. slick. Not a fan of the liquid because that's it's a side chain, another chain, and that's I like it. And I think it's a great option with bold to DCA into liquid. I mean, we don't really have to worry about it right now because fees are so cheap. But trust me.

What do you see with lightning? Yeah, I like liquid liquids. And then lightning, you could use bolts if you want to do a swap. And there's going to be a small fee associated with that. But, you know, whatever, lots of different options you have over there. I would suggest stick with Bitcoin only. That is the thing that I like. And there's reasons for that.

I don't want to get into that right now. We'll talk about it more in depth. Let's talk about some boost that came in, and we'll do some other things that I want to just get off my list. So wartime sends 133 sats, a couple of beer mugs doing a cheers. So thank you. War time for that.

Farmer, Eric, 200 sats. It says, great information about light and diet is Jerry. Seinfeld his brother on the carnivore diet. Talking about Safedine, he kind of does have that Jerry's side. An earlier, like not obviously, the Jerry's a little old now.

But if you look at a Jerry Seinfeld from the 90s, kind of, yeah, there's a similarity. I had a laugh when I read that. Doug 525 Sats, he says, great to see the return of the 40-yard-dash question. Light, steak,

and seasoned fruits, choosing that every day over a big dose of health-related fear in statins, statins, I don't know, from the medical industry complex. And he does a salute from that. Yes, statins are like heart medication if you have, like, high blood pressure. Ah, my mind is still, oh, it's like 120 over 90, 120 over 80. Well, maybe we can get you in a rant later on today and get you all worked up like you did, like you were last week, and maybe we can get that blood pressure up. you know that the reality is like i get pissed but i am pretty mellow for the rest of the day so like

i got pissed in the show and i got pissed a few other things but for the most part i wake up with a smile i go to bed with a smile that's the reality daniel b i don't want to give his full name just in case he doesn't want to get uh doxed he sends in 4,000 sats and daniel writes in damn it jimmy and jimmy was the motherfucker last week we've railed on yeah poor jimmy fuck a guy and jare 10,000 sats

wow it's quite a lot so thank you very much jare and everybody else so it's really enjoyed all three releases this week i don't think we have any releases aside from the two and these two are going to come out a little bit later since joey's at the cottage he's going to do the cutting up of this so the audio feed is going to come out a little bit later and yeah so

it's going to be a two episode week for people that are counting at home all right it's the dog days of summer land It's not just the dog days of summer It's just the scheduling is Like I'll go Oh no you know what

Hang on just taking a look to see if we have anything booked Nothing booked this week Like I'll give you some insider baseball Mya and it's my mother-in-law She fell cracked her hip two locations This happened two weeks ago And since then it's been a you know A challenge

Luckily for her she doesn't have to go for surgery It's a cracked into place That surgery is not required In fact she's now back home came back today and she's already going up and down the stairs incredible so yeah so like you see like i'm burning the candle on both ends too so it's uh it's been fun but how are things with you boomer i haven't gotten to talk about you in your personal life they're great they're great on vacation right now see i sucked it up like joey at a at a cottage he has no signal yeah he

he's minimal signal no if he if he dials in like literally it's going to be like uh using landline in AOL. It's pathetic. CBP, there's always high signal at CBP, regardless of your Wi-Fi connection, right? Do you want to disclose where you are? Or do you want to keep that at us? Are you in Canada? Yeah, I'm in Nova Scotia,

like home of the wildfire bands. All right, we can, let's talk about it. But I'm not in the woods in case everybody, anybody's like, better not be in a fucking woods. You'll get a fine of 25K. We'll talk about that. And a little bit. All right. All right.

Let's just dive right into the show, right? Because there's lots to talk about. And the story that you wanted to, I think, bring up, you thought it was a story of the week was Roman Storm, the tornado cash developer. And this past week, he was convicted for the unlicensed money laundering business. Now, for people who aren't aware what tornado cash is, that's an ETH type product,

but it's used for hiding your tracks. And so the government was saying, that this is a money transmitting business and they're also sending money or at least conspiring to have money sent over or ETH sent over to North Korea which is a violation of sanctions and this guy could

go to prison for up to five years apparently and allegedly laundering over $1 billion and there's some of this links included to North Korean hackers. There was a few hacks in the past few years with Eith and they converted it right away to Bitcoin

right um so i don't give a flying fuck about eat i i don't either and it's just anybody can clip that and post that anywhere they want i don't care i don't care about ethereum one way or another but this story i think does have a lot of uh carryover to to the bitcoin world because this is very similar to the samurai guys and you guys talked about samurai a couple of weeks ago was it last week? Was it with me? I don't remember. But you guys have mentioned the samurai guys. It was last week with Joey. I remember that now.

Yeah. This is similar where the samurai guys pled guilty because they were worried about getting a pretty harsh sentence. And this guy, this ETH guy, the tornado cache, he was found guilty. And this sets a really nasty

precedent, I think. Because these software developers are not I guess they're found guilty. So I guess they are laundering money, right? By letter of the law. But these guys are just software developers that make mixers that make tools that allow people to use their cryptocurrency in a sovereign way. And here we're having the authorities coming down and laying the boots on these guys.

And sentencing is not yet. So we don't know what he's going to get. I think sentencing is not scheduled until later in the fall. It's October, I believe. It might be September. Don't quote me on that. It's a little while. But this coming on the heels of the two samurai devs who pled guilty to a similar charge,

this is a nasty precedent, in my opinion. And it's something that all of us in the Bitcoin world should be paying very close attention to. So when you use tornado cash, I'm just reading it now, after the process, you have to deposit your garbage tokens, the ETH, into an address. Now, who controls that address is the question. If the address is controlled by their Tendano Cash people or the Canadian Cash the community, then really they're responsible, right? Then they are essentially a money transmitting business.

If this is done by the individuals, like if, for example, if I wanted to do an like a mixing and I use service but I'm the one that's sending you know the keys are kind of held with me then the I'm not in sorry the money transmission service is not done by somebody else I'm the one doing it so it really is who's the one that's holding the keys and who's the one that's handing out the east in the end that's the question right and he was found guilty so so we're we're not going to sit here and start to discuss like Is he guilty or is he not guilty? He was found guilty in a court of loss.

So take that for what it's worth. But I'm concerned of the chilling effect that this has for developers in the space. See, here we have John is saying that it's the monitoring, the unlicensed money transmission, the money laundering charges have been mistrialed. So the big question is, yeah, it's the unlicensed money transmission stuff. And until that gets settled, I guess it's really going to be a dagger that's going to be over the head of a lot of developers. Let's be honest, let's go back to say Bitcoin,

which we should talk about because that's, you know, what we all like and love, I hope. Now, Bitcoin, there is no central entity, right? Like, if you want to fuck up Bitcoin, you can't go to the CEO of Bitcoin. You can't go to the president of Bitcoin and say, like, let's, there, nobody exists. Like, it's just, it's a truly decentralized program or network.

And it's really just no runners running fucking programs and miners just mining away. That's all it really is, right? So with respect to that, you can't say there's a money transmission going on here because there is none. There's no one entity that's hold it. But with respect to these mixing services, this could be problematic. And until this gets settled, I think we're going to just have this question mark what

to do moving forward. But I think the reality is... If you were a developer, are you more or less likely now to try to try. new things and to come up with new ideas now. I think you're much less likely now. Well, it depends of what you're trying to achieve.

Right? So I see what you're getting at, but if it's a centralized service where you're holding on to something, like wallet of Satoshi, for instance. Yeah. Like, is that a money transmitting? Yes.

Right? They hold everything. So they could be in jeopardy in the future potentially and that's why they pulled out of the united states i believe they've returned i believe they've returned maybe somebody in the chat can set me uh sent me straight on that but i i believe they left for about a year and then when trump came back in they waited a month or two and then they decided to make their the product available again in the u.s it's just that's a bad precedent and this is not what i want in the space like i want developers being free to develop.

I want people to be able to use their ideas. And this guy, this ETH thing, I've never played around with ETH. I don't know how to use ETH. I don't know how ETH works. I don't care. But I don't like the idea that they're going around rounding up developers

who are building sovereign tools, privacy tools, and putting them in jail over it. I don't like it. So while I might not like, I might not be on his team, I definitely, I'm concerned with the result of what's transpiring over here.

Fuck them. They played with the eth. They deserve to get burned. Fuck them all. All right. Let's move on. I talk about this really cool project that's being released by GoBerr. That's www.g.g.org.r.

And it's called a solar bit. I'm not sure if you've seen this or heard of this. A really cool thing. This is a little device that caps. captures the sun through two 30 watt solar panels. And you could use this to power stuff like bit axes, like Bitcoin mining, running a node and they're doing that, stuff like that. Something that requires very little power, 2.30 watt panels that are in this little device.

This little thing tracks the movement of the sun. So it's trying to maximize the amount of electricity you could generate through the day. And if you want to figure out exactly how much you could run off this, for context a bitax gamma that uses around 18 watts at a default setting so yeah i could see that as long as the sun is shining uh it's potential that it could power the bitcoin gamma to its full potential and a raspberry five i took a look uses about 25 watts so you could use one of these little devices to you know do a lot anyways before people go running out there and buying one of these things to, you know, this is quote unquote free energy. The price is going to be a deterrent.

The price for one of these solar bits is around one million sats. That's going to be like 1,200 USD, give or take. And even with that, these devices are sold out. There's been enough demand out there that people just wanted them, which is iPhone 3 fantastic. But in the end, given how much power you could potentially generate and say the hash rate of a, Bitax and the price of this, it's going to take about a gazillion years to basically earn your money back through Bitcoin mining. Still a very cool project, but really don't go out there thinking that you're going to make bank on this. It's not, more than anything, this goes to show that you could do stuff like rudimentary mining and even running a node in remote locations that have

absolutely no connectivity to the grid. In this case, they are showcasing running off. a node off a rock pro 64 that is something similar to a raspberry pie very similar very very power um it cips power so it's really cool that they could do this so it gives a possibility for people out there to run your node just about everywhere and all you need is so a little bit how how was nchl 94 on rock pro 64 it probably does it run does it run okay is jeremy ronick the best is jeremy ronick the best player in the Rock Pro 64 version. People run it on a Raspberry. Yeah, you can run on a Raspberry Pi 4.

So Rock Pro 64, certainly it would run. Yeah, because you'd run a variant of Linux, like a Raspian or something like that. And then, yeah, for sure, it runs fine on there. So, yeah, Roenick's still in the mad. It's always the man. Yeah, for sure. The SolarBit stuff's really good.

Go check up their Geyser Fund. They have a pretty good Geyser page. It's been a little while since I looked at it, but it's good. It's good. And Lens right, it's expensive for what it does from a mining standpoint. But isn't this just an amazing way of decentralizing mining? We're getting to the point now where people are messing around with building solar-powered miniature Bitcoin miners and nodes.

The node is the one I'm very happy to see. And let's be honest. Let's be honest here. When you're talking about using this sun to do this, You're then, you're relying on the sun to shine in order to power that node. So if you're going to transmit a, or broadcast a transaction at nighttime, it ain't fucking happening. You got to wait for sun to rise again for your node to finish sinking, just like mine. And then you could fucking broadcast your transaction.

But still you have the ability to do that just about anywhere as long as you have enough sun. You can't run your node where the sun don't shine. That's right. You have to find something to store that energy And then you're talking about batteries And it's a whole bunch of things But it's great It's a great way to just decentralize this thing

And it's not going to make any money Don't buy this thing Thinking that you're going to hit a block Because you probably won't But the more of these types of things That we have out there in the wild The better Now you're traveling

You're out in the East Coast Did you bring your node with you? I forgot it I forgot I totally was going to bring it. I swear to God, I totally was going. Not only my minor, I was going to bring my bidax. My Canadian Bitcoin or podcast bid acts.

I wanted to show my brother. I wanted to just kind of show it. And I completely forgot. It's still plugged in back home in Ottawa, though. So it's still hashing on solo pool. So I checked to see if I hit a block and like, no, I have not hit a block in the past 10 days that I've been on vacation. man you probably yeah let's be honest the likelihood of hitting one yeah

if you do though remember your friends over here to Canadian Bitcoiners podcast we would like to get a slice of the pie yeah you know yeah I'm just kidding it's all yours buddy but all this technology is good all this is good like this is a sign that like more and more people are building shit like and this is great this is what we what we want

so another sign that shit is being done is if you look at the number go up when it comes to Bitcoin mining right with bitcoin mining we hit this past week well let me just lay it out because the price of bitcoin has gone up quite a bit in a past year and change right and because of that it's more economical to mine bitcoin and there was a something floating around today showing the cost to mine one

bitcoin in variety of countries and it was showing like argentina was 16 000 usd to mine one Bitcoin and Russia was very cheap. I don't know what's still the how truthful this is. Bob Burnett was actually commenting it doesn't seem like it's accurate. But nonetheless, it's still just the fact that the price of Bitcoin has gone up. It's more economical to mine Bitcoin. So more equipment is being plugged in being energized and it's hashing away. We hit this past week one, I'm hoping I pronounced this right, Zeta hash, Zeta hash.

I'll call it Zeta hash. And that's an enormous number. And also that the Bitcoin. hash rate, the moving average hit a new all-time high. It was 931 x-hash per second. Number go up. This is a huge

huge number. And it shows you that there's a lot of energy out there that people want to convert into potentially Bitcoin. You're not just, right? So the energy is somewhere. Stranded or not, where the fuck it may be,

but people are choosing to use that energy for mining Bitcoin. It's super bullish for this to happen in the middle of the summer as well. And you're, because this is, it's incredibly hot outside, like in, at least in North America, like in Texas, for example, where they have a lot of these arrangements where a lot of these big mining companies have arrangements with local energy providers to turn off when energy is scarce

and there's demand for air conditioning. So, so to see that the, the, the, the global hash rate, is booming now is especially bullish because you kind of expect going by the seasons you would expect that hash rate should kind of peak in the fall and in the spring where there's not a lot of demand for heating

and air conditioning all over the world so to have it in August is extremely bullish and you're a mining guy you seem to be leaning to a lot toward it like you look at this story it's got to read it like you were talking about Texas and 100% right I can't believe they're not doing the European style

where you're saying just don't run air conditioners just fucking sweat it out but you're right a lot of energy is being diverted towards the grid rather than Bitcoin mining what happens when we hit October November December when months the temperature starts to cool down this the Bitcoin mining

is just going to actually skyrocket now there comes a problem I think Sometime in the future, when a price of Bitcoin gets high enough, like what happens to these energy producers, they'll look at Bitcoin mining as it's better than just selling it to residential users or commercial users or industrial users. They just rather mine Bitcoin. I don't know. The supply demand will work its way out. And we're seeing more and more demand for data centers in general, right, with the boom in AI.

So I see more Bitcoin mining competing with AI data centers than for residential and commercial. It's good. And it's funny. It's good. This will create more energy. Like there'll be more energy abundance, right? Like people will build out more energy. If there are consumers for that energy, they will build out more energy to meet that demand.

Yeah. And the way that Bitcoin works, it'll. I mean, I guess it's possible depending on like where how high price goes and how fast price goes, but how fast it goes to get to that price. But there's always be more demand on residential because it's a global, it's globally competitive, right? So they'll always be somewhere on earth where energy is cheaper than where it is needed on the residential side. And you make a really good point.

hit on one point where you're mentioning out the building out of generating electricity. And if you look at countries that are doing well compared to those that are not, the ones that have the ability to generate power and a lot of power, there is a correlation between that and prosperity, right? It's hard to have a prosperous country without having a lot of energy. It's very difficult to do so. It just doesn't happen. There aren't any.

Right. But on the flip side, I could show you a number of different countries that are doing quite well that have a lot of energy and they are generating it. So, yeah, if this is going to help countries out there developing nations sort of kickstart or energy production, this I think is a good thing in a long run. It gives them the ability. A buyer of first and last resort. An energy buyer of first and last resort. So overbuild and allow Bitcoin to suck up the energy at the beginning when there is no demand on the residential side or lower demand on the residential side. When the residential side can take it, send it to the residential side, send it to the commercial side, then build more electricity and then the Bitcoin miner will take that excess electricity until it's needed somewhere else.

It's perfect. All right. This is a fucked up story. This is what I want to talk about from the BBC. And they talk about the police got a 500,000 pound windfall because of seized Bitcoin. To make a long story short, there was some scammer over in the UK, and he was eventually captured by the police. So the cops, through their investigation, they see. a bunch of stuff

like Bitcoin from this scammer and the Bitcoin that was stolen by the scammer eventually was returned back to the owner or owners but it was done so at their original value as a result because

the price of Bitcoin went up quite a bit over the past year or so there was a surplus of one million pounds that was generated from this seizure. What did you do with it? 500,000 pounds went to the police force while a remaining 500,000 pounds was passed to the home office. Now, the question I have is they gave the original value back to the people that had it stolen

from them. What happened if the price of Bitcoin went down? Would they do the exact same? I highly doubt it. So essentially is you're going to get the short end regardless of where the price is going. If the price went down, they'll give you back your Bitcoin. price goes up they'll give you the value

of the Bitcoin at the time it was fucking stolen this is an awful story this is awful this really makes me angry like this I'm with you what if they were cars

are cars vintage cars and it goes up in value are you and they don't give you back the car but they give you back the value of the car that was stolen

when it was stolen that makes no sense to me. A hundred percent. See, this is a story that I find extremely and utterly bullshit. It's bullshit. Like, it totally, there's nothing about that you say, though, they did the right

fucking thing. No, they didn't. The only thing they did right was they captured a dude and they, okay, they say, okay, we're going to give you back what you should get. But they didn't give back what they should have gotten, which is fucking too. Since they kept it, they're keeping the 500,000 pounds from herself,

giving 500,000 pounds to the office and everybody's happy except for the people that were scammed in the first place now that's people that were scammed they shouldn't have been scammed originally but still let's be honest here they fucking lost bitcoin given the bitcoin that they fucking lost in the first place like it's fucking it's total bullshit this shows you you can't rely on anybody out there except yourself the only person you could trust is yourself it is up to you to make sure that your bitcoin is secured properly and if somebody comes knocking and saying i need some bitcoin because you have some bills debate you tell them the fuck right off you give them fucking nothing those keys they stay locked up

and they never see the light of they never go to the fucking internet so shit like this this is a story people should learn from total bullshit do you think the people that got scammed here filed the police report and put in pounds how much they got scammed out of so because they didn't you know i know i know that it was bitcoin that was stolen but when they filed the police report yeah like do you put like i i lost one bitcoin or i lost x amount of pounds because if you said like i lost x amount of pounds of bitcoin well maybe then the police officers are saying well okay well you you wrote you filed the report in pounds so i'm going to pay you off in pounds it's still bullshit i don't like it like it's ridiculous like clearly those police officers in england

they need their money right like they're real busy they're really busy over there like they have a lot of work to do. There are a lot of like memes that need to be, need to be stripped from the internet. And there are a lot of people that share a lot of stuff on the internet that need to go to the jail. You know, I look at this and I,

I hope this isn't just a UK, like I hope this is just a UK style story, is if the same happens to say somebody more local to us or in the United States or wherever and the police capture the dude and captured a Bitcoin, I hope the fucking God that they give the guy or gal or people that happened in Mount Gox, Mount Gox. Well, they were trying to give them back the Bitcoin that they lost. Some of it, they couldn't have given it back on totality because some of it was lost, right? So they're giving them this term is pennies and a dollar, but still the Bitcoin is going back to the people that.

Yeah, Quadriga as well. I don't know how Quadriga, they, if there was any settlement. I have no clue, but I know Mount Goxter. The settlement was like, you know, if you had 100 Bitcoin, I think you get like a portion of that back just because they didn't have the total amount. Yeah. So in that case, I could say, okay, they're doing the right thing.

They're not giving back dollars or giving back actual fucking Bitcoin or whatever else. The only thing, I look at this story, like, what if they had a Melania fucking coin or Trump coin or whatever? Those coins, they fucking, they went so down. So, like, right? Like, what are they giving them back the coins rather than the fucking, the value of the time it was stolen?

Like, come on. Fucking bullshit. Whatever. Ah. It's horrible. We're seeing it was pencil to be one seventh. So, yeah, if you have seven Bitcoin that you had lost on Mount Cox, you'll get about one back.

That's, according to Mark, from EasyDNS. And it kind of worked out for Mount Gox because Bitcoin has gone up more. than seven times since that wow right we're talking about that's bullshit right from a dollar standpoint a lot of people a lot of people are going to get back more dollars than they had but they're nowhere near on the value right if it's yeah 100% Bitcoin has gone up way more than that right yeah okay landfill dude we heard of this guy right we're sticking in the UK here this is going this guy's been on the show quite a bit you guys have talked about this guy

at least three times and you know the last time yeah I think he was Joey get your vaccine so the landfill guy the last time we brought it up I seem to recall Joey saying that

we will never hear about him again but here we are hearing about it again the reason being is okay for those living under Iraq this guy lost 8000 Bitcoin when his hard drive was inadvertently tossed out and sent to a landfill in the UK. He tried very hard to get it.

It's fucking lost. It's gone. And even if he does find it, that thing is probably subjected to the elements, a hard drive, and it's fucking trashed. There's probably no way to recover that. Either way, this guy, James Howells,

he's turning the lost coins into the basis of a new defy project, a fucking scam project. And the guy is now officially a scammer. It's not the first time he's been officially a scammer. Because back at the 2025, sorry, the Bitcoin 2025 in Las Vegas, which it's full of scammers, by the way, over there. But anyways, just this year at the Bitcoin conference, he was throwing up the idea of an ordinal-based token representing 21% of the wallets value to fund a potential dig with the token holders earning a cut if they successfully succeeded. but you know what they never did it this was left in a drawing room stage just guy was trying

to do ordinals fuck him he's now moved on to defy chicoinery and he's calling this project the buried bitcoin built on the bitcoin network more spam to be dealt with by node runners and the tokens are not going to be backed by spendable bitcoin but the idea of the lost coins making the lost hard drive a symbolic vault hmm And he says, you have to multiply the very low chance of recovering the Bitcoin by the low chance the token would be recognized as a valid claim. And then by the high value of the Bitcoin, this guy is fucking, he's really stretching here. And he says, that leaves some residual value. But that's not what it will trade on.

It will trade on a narrative, he says. He says it's better viewed as a meme coin than a real investment. This guy is a fucking loser. Now, he is doing ordinals, tried it earlier this year. it went nowhere. Now he's doing a defy shit coin on Bitcoin by the way that is going to make it harder for Node runners to deal with a fucking experiencing

it right now. The last fucking year and change of sinking up takes for fucking ever on a shitty computer and he, like this guy could just go fuck himself at this point. You could just officially fuck himself. Earlier in the show, one of the boosters said that he was happy of the return of the 40

yard dash competition. Yeah. Joey brought it back. I've been campaigning to try to get a return of no-coiner and Bitcoiner of the week. And this guy would win no corner of the week for this week. This is like shit corner of the week. This guy kind of smelled like scamy from the beginning. It was something off about him from the very beginning.

The story never really seemed to make sense. Like is anybody 100% sure that this guy ever had any Bitcoin at all? Was this all like some plan to get some popularity and to have, you know, people like you guys you know like a well reputable bitcoin podcast with hundreds of thousands of views like the cbp to talk about this guy three or four times then he gets his name out there and then the next thing you know he's launching a shit coin token it's not backed by anything so he can rug you it's pretty scam if you fall for this you had it coming and i the people that you're right.

If people are going to fucking go into this and buy into this mean point, fuck you. Just fuck you. You deserve to have your Bitcoin lost. Fuck you. And what I don't like it, it perpetuates this type of behavior.

Yes, it does. Every time, go on, right? If this guy makes any bit of money out of this at all, it stacks any type of Bitcoin out of this because somebody falls for it, then there's going to be another loser next week

that's going to try the same fucking thing. and that's that's bad a hundred percent you took the words right out of my mouth you were damn fucking right on that and it reminds me of that scammer i think is a scammer the guy that claimed he lost his bitcoin by downloading sparrow wallet the fake sparrow wallet jimmy yeah like come on and somebody people were donating to him i think he got uh 1.7 million 1.8 million sats last time i checked his wallet um i can't and check my wallet because or check its address because I don't have my node running is still almost there I keep harping on that fucking computer anyways I just want to bring up a point

that was brought up earlier John was saying that in the UK they have landfill accidents bony needs to do any licenses that's funny shit and yeah Mark is saying that's a real hostile like it is but if you've been in fucking bitcoin which he claims fucking jimmy i can't we're talking about him again claim to have been in bitcoin since 2017 and he got rug pulled it in a Celsius fiasco like you know you've been around a block a few times and you have how many people get rugged more than once it seems like like luckily i haven't been rugged like you know knocked on wood like I haven't

I haven't fallen for any dumb shit maybe I will eventually I hope not like I hope I never do but I feel that if I get if I fall for one of these things I'm very unlikely to fall for another one like right like you gotta I'll be careful

next time and I don't know this guy this guy Jimmy I don't know I never heard of them before last week yeah like you guys said last week he he lost some money on Mount Gawks, lots of some Bitcoin on, not Mount Gauks on, was it BlockFi?

Celsius. Celsius, Celsius. And then again on this like a fake Sparrow app on mobile. I guess it's possible. I'm not good. I don't know. Maybe I, but be careful out there, guys.

Just be careful. Yeah. I think for you, the way I understand it, and I don't want to get into how you're dealing with your Bitcoin, but if I were to get it for Bitcoin, only paper Bitcoin. Not only paper Bitcoin. I have a BlackRock. I have a BlackRock ETF in my TFSA. That's the only way to go, buddy. That's the only, that's all I have. No, but you have your own

node. And I assume you set up your keys offline. And you're not subjecting that to any bullshit where you're just going to get yield. Like you just, you're staying away from, this is the right thing to do, right? I think that's the way you're doing that. And your paper Bitcoin is probably going to go tits up in a long enough time horizon but you're doing it right you know i think i mean if i use myself an example i try to learn as much as possible from other people's experiences and especially other people's experiences which are very expensive for them to learn and i like to learn from their losses which is too bad because for them it sucks but for me it's knowledge it's yeah their experience i'm trying to to include

include into my decision making moving forward and everybody out there should do the same they should learn from other people's mistakes where they lost their bitcoin their wealth and try to do something that will prevent you from being subjected to the same type of laws there's no shame in making a mistake there's no shame in making a mistake and under certain circumstances I suppose there isn't shame in it in getting scams like there are I'm sure there are a lot of scams out there that are quite, you know, difficult to notice. But there are a lot of them that are pretty obvious. So try your best.

Always keep learning. Like you said, learn from other people's mistakes. And, you know, if something kind of feels like a scam, do your homework first. Like always double check where you're sending your Bitcoin or what you're downloading to or never put your seeds online. Just be careful out there. ABC is saying, y'all making Mondays better.

Thanks. Love it. We are making Mondays good. Mondays typically suck, but since we're here, we make it better. And I'll see, like,

my first lightning node that I ran a few years back, when I shut her down in total, like I just got it rid of it. And I'm going to spend up another one shortly. I lost 60,000 stats in the end of that. That was a, not an expensive.

lost but I lost and that's what you want to do if you're going to lose something lose it in a way that it's not expensive and then the reason why I lost it is when I closed all the channels I there was one channel that was just small it was 60,000 sats I can't believe was open that I didn't quite close properly and when I I didn't realize didn't close and I wanted to just you know format everything I didn't is like oh shit I did it too soon and at that point I see the 60,000 sats were lost so that's a thing if you're going to learn try to learn on the cheap of all possible and the best way to learn the cheapest way to learn is from somebody else doing the fuck up it makes me think about like how i've lost i i guess and again

this is just in theory because of course i have all my bitcoin in black rock etf right so i i don't actually of course but i'm just saying in theory or a beacon of hope for a lot of us that yeah yeah in theory if if i did would have would have been like uh not consolidating my utxos no that's terrible you shouldn't do that like well you're you're you're you're You're new, right? Like you're early. Like I remember like making a tiny, again, in theory, small DCAs every week or every, every day sometimes. And then you don't realize that you have to consolidate all these UTXOs.

And then it costs, potentially cost me, you know, a couple of hundred thousand sats to do a consolidation. Because I was worried that fees were going to go even higher during that, that whole ordinal BRC20 thing. that happened last year. So I guess that was the worst thing that potentially happened, that could have happened to me. The one thing that I could guarantee you is the fees are going to go up from now and the fees will go down from now. Yeah.

You know, like it's, you got to find, if you wait long enough, fees will be down. But fees. That's a horrible feeling though. That's a horrible feeling if you've got it. And again,

like I feel for people that are relatively new that are learning and it's great. It's awesome. we all make mistakes we're all we're going to keep making mistakes but you know you're self-sovereign you've kind of got your head wrapped around the idea of like yeah i don't want to hold my bitcoin on an exchange so i'm sending it to my cold storage if you're doing that you're your way ahead of most people but you do have to consolidate those utxos because you don't want them to be too small and if you don't understand what i'm saying that's that's great like go out and learn that you're going to have to learn that at some point. It's not like a, it's not a first day in

Bitcoin type of lesson. It's more like a couple of months in Bitcoin lesson you got to learn. And what's great about it now is learning that lesson right now about UTXO consolidation is that fees are ridiculously low, like insanely low. I learned that lesson when fees were high. So I had to pay to the miners. Like the miners made a good bit of coin off me because I hadn't learned my lesson. And it's it's a shitty feeling to have, you know, a hundred UTXOs and the fees are skyrocketing. And you're afraid that they're going to keep going up.

So you, you want to merge them as soon as you possibly can't. You made the decision, the best decision based on the information available at the time. Yeah. Yeah. Right. Hindsight, obviously, you should have waited.

Hindsight, I should have waited and done them last week when they were under one sat per V-Bite, right? Like, fees are going under one-sat per V-Bat. I know that's like on the list of the things we want to talk about. So maybe this is like a good transition. Well, I'll just talk about it. Very quickly, the fact that we're at the stage where one-sats, well, sub-one-sat for B-Bite is available.

Interesting. But, you know, I have, you know, nothing to really to add upon that. It just, it's, it's an opportunity for people like you, in the past that if you want to consolidate your UTXOs it's an excellent time to do so especially if you want to take advantage of the sub one sat per V byte it can make it fucking cheap for you out there so I don't know if I've ever asked you Len and I apologize if I did before but what's your opinion on optimal UTXO sizes I you know what I don't have a hard rule I know I I one million seems right 10 million seems right i i don't know if there's a you know what really is best i just know that

a number that six digits doesn't seem palatable for me that's really the only thing i could say so i and i wish i could add to it i wish i was exactly clear no that's exactly what my answer would be from 1 million to 10 million sats and if you're new to bitcoin you still haven't accumulated 1 million stats yet that's your first goal so you're we were doing 100 million sats for consolidation we're not doing that nowadays 100 million stats like one one bitcoin for uti one one full coin per utx on like why not man why not like what we don't have the average pleb blend doesn't have easy dns and bull bitcoin sponsorship money like they don't have access to how much money you guys are making over here

to have that those high rolling one i hear you man my so when i'm look at my stack, when I look at the 2,500 sats that I have in my cold storage, I get so fucking happy to see that when a number continues goes up. So, yeah, man. But I agree.

One million to 10 million SATs per UTXO is that that's exactly what I think. Everybody try to get one million. Let's talk about one last story. And this could be big news for the number go up crowd, maybe. and it's i'm not talking about a strategic bitcoin reserve i still don't know where to fuck that

this is out there i think it's just it's lost in the sauce and we're now more focused on apstein and the z man going around and maybe fucking the middle east anyways sbrr seems to be a lost cause at this moment but who fucking knows trump though signed an executive order last week on thursday and he said it's the potential is out there now for people to americans to invest in or 401k, this is like the RSP version in Canada. And they could put stuff like private equity, real estate, and Bitcoin into that. And I'm not sure how we could capture, how they could capture private equity into this. Like, it just seems odd.

But anyways, but locking up Bitcoin for many years in a 401k, I mean, Bitcoin's already a scarce asset as it is, just potentially make it more scarce. and they're saying this could open up the door for a bunch of new retirement funds out there that have control of a lot of money that it could flow into this, but did they already have the ability to buy Bitcoin ETFs, right?

So, and again, with this, like, who holds the keys when it comes to this storing your Bitcoin in 401 case? I don't know how this works. I mean, are you familiar with this? Not fully, but this is not something that is completely new.

I know that this recently passed Trump has to stand in executive order. But I think I've been hearing about this for a little while. Don't like on-ramp and what's on-chain capital. Not on-chain capital. What's the one in Austin? CASA is another one from Austin, Texas, the unchained capital. What do they call it?

Whatever. One of the early Bitcoin companies, the multi-sig, they provide some multi-sig. And they have this type of thing already, thought. Now, I read this and I'm like, well, this seems Unchained Capital. Yeah, there go Mark in the chat. The real MVP. Yeah, Unchained Capital. They've been offering this type of product for a little while. So I don't know if this is something completely new. I don't think it's that big of a deal because like what you said, like you just said, they could still buy the ETFs. So there are not that many people who are interested in Bitcoin to begin with. Like,

where are we at in terms of penetration in the in the in the in north america we're in the single digit percentage for sure easily you know and say a fraction of that's a fraction of that so of those how many bitcoiners actually believe in 401ks to begin with right that's a good point there's not that many and of the ones that do they have micro strategy or bitcoin miners or one of the ETFs, I mean, I guess it's good. Any time that there's more options, that more people are able to use Bitcoin in different ways. And Bitcoin is just kind of out there in the zeitgeist a little bit in a relatively positive way. It's a good story.

It's good. I'm happy to hear it. But I highly doubt that this is going to have a whole lot of impact on anything at all. How much on that? but why shouldn't this stuff like even things like art like why can't like if you were to have a painting like a very a painting that was worth a lot of money like you should be allowed to put that to protect that under your tfsa or rsp or 401k right like it just kind of makes sense like why are we restricted to only a certain set of investments I don't know it's hard

for me to rot my head around this I'll be honest it's hard for me to rot my head around this I'll be honest it's hard for me to wrap around my head around a lot of fiat nonsense products so this is another one but maybe there's probably a nothing burger or probably yeah probably a nothing yeah i mean there was a lot of hoopla when this came out but i don't think in the end it's really going to change anything but all right i think it's a good time to end it at least the bitcoin side of things geez a lot of stories we didn't even talk about but there's so many more we have to talk about on the other side of the fence if you're listening just uh come back tomorrow but if you're watching online nothing's going to happen it's going to be another same old show

so with that last words boomer don't be a shit coiner i went and don't be a jimmy