The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - WHY IS CANADA GIVING AWAY TRADE RIGHTS TO AMERICA? (Because We're a Joke) | THE CBP 219 Pt 1

Episode Date: June 17, 2025

FRIENDS AND ENEMIESIn this episode of THE CBP, we're discussing the crucial topic of Canada's trade rights and why they're being given away to America. With the current state of politics and trade agreements, it's essential to understand the implications of these decisions on our resources, including oil and energy. As we navigate the complex world of trade, it's clear that Canada is being taken advantage of, and it's time to ask the tough questions. What does this mean for our economy, and how will it affect our financial future? Join us as we dive into the world of investment insights and financial news, exploring the connections between oil prices, trade agreements, and the impact on our economy. With the likes of Trump, Carney and others making headlines, it's more important than ever to stay informed about the changes shaping our financial landscape. From bitcoin and microstrategy to oil and gas, we're covering it all. Tune in for a thought-provoking discussion on the state of Canada's trade rights and what it means for our collective future.#Iran #Israel #Bitcoin #BTC #MSTR #SaylorJoin 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.

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 get other stuff as well. Friends and enemies. Welcome back Canadian Bitcoiners podcast. Friends and enemies. Welcome to the CBP. Want to be better and formless. Listen to Len and Joey. Spots is taken care of right off the top. Oh, Bitcoin and easy DNS. The media is I'm going to be back. You can trust, send the guys some value, boost them with some stats. Bitcoin is a scarcity asset. I mean, it's just a fact. Geopolitical, national, down to the local cloud.

Friends and enemies, welcome back to the Canadian Bitcoiners podcast. My name is Joey. That's Len. Did you see that the Bilderberg meetings are this week? Yeah. And our esteemed former finance minister and current trade minister is now there. Yeah. I'll be honest. I never heard of build a brick until two days ago. Come on, Len. And it's a rabbit hole. I choose not to go down. I don't ask about this. I don't care. I honestly just don't. Yeah, because whatever happens, happens. Whatever happens, happens. Yeah, it's out of my control. Maybe there's just a bunch of good folks over there. Maybe. Yeah. Checkers or chess, cribbage. Yeah, it could be. Yeah,

maybe the little Mario Kart world tour. I mean, that's new. They might like that. They probably got their hands on a few Switch 2s, right? They didn't throw it in line at walmart for those. Have you opened yours? Yeah, yeah, i've played it. It's great. The tears of the kingdom on it is outstanding I'm like back in on that game after being out for a long time just because I didn't have a lot of spare time I still don't but um, i'm trying to At my wife's behest trying to spend less time listening to black pill podcasts and more time, you know, down time doing stuff that I enjoy. Yeah. It's fine. Like I, it's with my, with my little one around. Most of my free time is now spoken for, which is great, but there's still, you know, a few hours in

the morning, a few hours at night where if you're not careful, you will get wrapped up in Black Pill, you know, content nonstop. There's so much of it out there. So anyway, yeah, it's, it's good to be back with you Monday night. Lots to talk about. Not too many Bitcoin stories today. A lot more notable stories as we call them. Yeah. Lots to do. Lots to talk about. Although we can to fill the Bitcoin segment up. I'm sure we have something that's up our sleeves. Yeah, yeah. I'm happy to distract some of that stuff. Let's talk about the sponsors first.

Easy DNS, your friendly neighborhood registrar, Mark and team are the only place where you should be hosting your domain. Why? Well, there's a couple of reasons really. One is that Mark is as stand up, as stand up guys, you're ever going to find. It takes Bitcoin for the services, which is outstanding. Len, there's DomainSure, Easy Mail, and other sort of add-ons as far as security.

You can pick up for a couple bucks from Mark when you're using EasyDNS. We use EasyDNS for our website, for the podcast, which very rarely updated. Updated about as often as Len looks at the Build-A-Berg meeting Wikipedia page, which is to say not that often. But all the same, we've never had a problem problem and I know you guys are using Mark as well and

are not having problems either. Is that Build-A-Bear? It's not. Be careful searching for those things together. I don't know what kind of results those might yield, but anyway. Have you ever went to a Build-A-Bear? Yeah, sure. There was one in Limeridge Mall when I was a kid. Okay. Yeah. Yeah.

Harmless. If you're looking for virtual private server stuff Mark's got you covered there too. Easy stuff over on easy DNS whether it's a Bitcoin node, NOS to relay BTC pay server, you name it pal. He's got it. And we want to make sure that all of you are using easy DNS for your registrar needs. CBP media is the code 50% off first round of buys. You guys know the deal. And Marcos, take care. Yeah, that's where you want to be. Who's the second sponsor? Bull Bitcoin, Joey. It's Bull Bitcoin. I don't know what the price of Bitcoin is right now,

so I'm sure it's a good price to buy, good time to sell, whatever you think is good to do. They have you covered on chain, lightning, whatever you want. But you know what? The blocks are not full. The blocks are really empty in fact. So doing on-chain is definitely the way to go right now. You still want to learn how to do your lightning buys with bull Bitcoin. They're non-custodial. This is what you want in an exchange. You don't want to deal with any of these exchanges that hold on to your Bitcoin. Well, who knows what to do with it. It could be paper, it could be who the heck knows. When you buy from bull, they send it to you immediately. You can't facilitate the buy without providing a valid Bitcoin address or any Bitcoin address.

It doesn't have to be valid. They'll send it to that anyways. Make sure it's your own address. You're sending it to, or else it's going to be lost in the sauce. The other things you could do, DCA, it's available. It just came back. Yeah. The big return of DCA. Yeah. Yeah. It's available for people out there. And if you want to send your Bitcoin to somebody through an e-transfer, you could do that. There's a lot of different things you could do over there. Pay bills with your Bitcoin, check them out. Use our code. If you have an open account, they're available in Canada, Mexico, Costa Rica, several countries in Europe. People are using it. I use it. Joey uses it. You should too. Check them out. No brainer. Really. Len, where do you want to start here with the boost? You want to

do some boost? Yeah. Yeah. Okay. Boosting it is. Boosting it is. So number one, because we got a last minute entry to kick somebody out wartime 333 stats. He said, cheers. I'm still throwing it in there. I don't care. Wartime talking thanks for the stats. Doug, 615 stats. Is this Doug and Rupen? So did Joey just open himself up to being DM'd by every would-be Bitcoin author asking, can you buy a copy of my book? Great show. If you come on the show and I find your content interesting, I am happy to buy your book. I mean, like I don't know about you, Len. I'm not quite like the voracious reader I was years ago because, like I said, I just don't have that much time now. But I mean, like most adult males, I

find my quiet time on the toilet and there's no better place to read than on the toilet. So if you want to be with me while I'm pinching a loaf in spirit, this is the way to do it. Write a book, come on the show, and I'm happy to read it while I see how my digestive system is working. You know what? By the way, there's a lot of research that shows this whole shower thoughts thing is really something that holds true. When you're in a situation where you're just kind of doing something that requires no additional thinking or consideration, you will absorb information more and have the creative spark a little more as well. So, you know, shower thoughts obviously is the sort of term, but, you know, I would say the shitty thoughts are just as good. So, if you want to be on the can with me,

write a book and come on the show. We're happy to have you, man. Of course. No doubt. What if it's a novella? Like what if it's something where pamphlet? Like how, like what will you go? No, it's got to be, it's got to be at least, uh, hold on. What's Mark Goodwin's book is probably like a hundred ish pages, hundred ish pages,

maybe the Bitcoin dollar and the pages are only this big. They're very small pages. It's like a single space. It's like a- Single space. It's like a funny's pud you used to get in your bubble gum. So if you can write at least that much, then I will read it. And I'll leave it in my washroom too. Other people will probably read it while they're doing their business. Trying to orange pill as many people as I can while they clean the pipes, as they say. Dan Wedge, as they say. Dan wedge 1000 sets.

Wedge has been sending me stats on Noster and I don't know how to like see where he's writing his message. I'm trying to look at my wall to Satoshi, but it doesn't say anything. So I don't know. There wouldn't be, it would be part of a note and from that note that you wrote and he would zap that. Oh, okay. So, and he actually writes kind of with response to what you just said or in connection to says,

Joey doesn't even know how to zap. I don't. I don't. On my camera. Oh, no. What happened? That was me. Anyways.

Yeah, no, you're going in and that's okay. Don't worry. We'll just make do with Jer 2000 Sats. I missed a couple of weeks trying to catch up. Since our stuff is very topical, it's like listening to our stuff from a couple of weeks ago. It's I guess it's informative to a degree. Yeah, it's still be good. I think most of the time, most of the time we talk about stuff that's like, especially in the Bitcoin side of things. Most of the time, most of the time we talk about stuff that's like, especially in the Bitcoin side of things.

You know, even if you're a month behind, I would say you're still going to get value from listening to what we talk about. It's never click bait. It's never nonsense. You're never going to see me screaming at you about how many Bitcoin you need to retire other stupid shit like that. So what is the number? Have we established?

I don't know. It's different all the time. But the thing is that I can't see it anymore because Luke is telling all these guys to blur out the number in the thumbnail. So I Don't know. I have to watch the video Speaking of this TX MC who was who was is very popular on Bitcoin Twitter for his charting and and of, I don't want to call it economics takes, but there's certainly data takes. He seems to also be tired of the bullshit in the content world. So I might message him and send him a quick DM like, hey, why don't you cut, you want to vent for a bit?

I got a place you can do it. Come on, RR. We talk about this shit all the time, man. Yeah. Like minded thoughts business cat. 5,000 sats is the shadow to the mother-in-law is keeping the Bitcoin men afloat. And I think this is with respect to you when your mother-in-law was watching your little one. She is right now. She comes over every Monday night. Yeah. She's incredible. We're going through a bathroom reno right now. And so my wife, my dog and my daughter are going over to my mother and father-in-law's, my in-law's house, not far from us, a couple of blocks every morning at 7 30 a.m. And they've been great for the last week. And, you know, obviously before that too, but coming up, especially big over the last week and especially big over the week or so to come while the Renault finishes. It's not that intrusive in terms of like my life, but it's too loud for the baby to sleep. So have to have to relocate to make sure that the naps stay on track. In an Italian household, that's what you call background noise.

Louder the better. It's kind of like a lullaby. Jer 5000 sats. Thank you again. This is a, he's in 2000, now 5,000. I appreciate you both. Love you, Jer. That's it for the sats, the boost. Great.

Great. Yeah. Okay. Um, housekeeping, uh, last week we didn't do an interview. I don't know if we're going to do one this week. I'm, I'm kind of looking at Len. Maybe he'll do one, maybe he won't. I invited that professor dude. What do you say? That some professor I tried to invite you. Now I fucking forget. We have another huge name in the hopper that

maybe I'll reach out to. I still haven't reached out to. But I sort of have it. This professor was saying about immigrants, don't contribute to the unemployment. I tweeted at Mikel. Mikel, right? Yeah. So I invited him. He said thanks for no thanks. Okay, that's all right. Yeah, I appreciate that. Yeah. We have a, we have like a huge name in the hopper that I have to reach out to. He's easily the most famous person in my phone now. So I will maybe think about that for the summer.

And a big thanks to that person. And I still haven't reached out. So don't, yeah, it's not that I've forgotten. It's that I want to make sure I have half an hour to an hour where I can take a call or I can take a call if one comes in, if I leave a message or something, and also to speak to somebody for that long. I want to give this person more than just a few minutes because they deserve it and I'm certainly, I'm sure they are also used to it, which you know, they've earned. So thinking about that, side note housekeeping, Mark Djepcevic was on Geopolitics and Empire with friend of the show, Hervoy Morich last week. It was a good episode. I have to say, I listened to a lot of podcasts, obviously, and I was listening to that one while I was doing some

foam rolling before football on Saturday morning. I often find myself when I listen to appearances, Mark does on podcasts where it's not just like all Bitcoin. I find myself like thinking about books that he's mentioning to read, which I don't often think about. Mark is pretty well read and having, I think now, enough experience in Bitcoin and related economics topics, I kind of want to branch out into some other stuff on the reading side. And so if you're looking for adjacent topics that you might find interesting or relevant to stuff like Bitcoin, hard money, for turning, all that, I think Mark is the guy you could

ask for recommendations. I mean, I'm not saying you should all direct message him, but maybe I'll tell him to put a reading list on the crypto capitalist or Bitcoin capitalist newsletter and get people reading. There's so much going on Len in terms of like politics and like soft and hard power being used and deployed all over the world these days that it's just it's a good time to be well read and I feel like over the last year I've kind of let slip some of the standard reading I used to do every week and so I want to get back into it for my benefit and for the benefit of our listeners and viewers too. All right, we'll dive right

into it or what? Let's do it yeah let's hit it. All right so what do we have this we put a few stories. Cove? I would love to do Cove. Praveen is a friend of ours the Cove wallet finally hit the App Store version 1.0.1 I think is out now because he made some changes to the GUI, right? That was today. It was 1.0 if I'm correct. But 1.0.1 came out today to fix some small, tiny little errors. You talked to Praveen. You, you discussed with him Yeah, it left beta. Yeah now officially in the app store was great in beta. Like really it was really good in beta It's good. Now. I this is easily to me the best mobile wallet It's it works with your harvest a harbor wallet if you want so I think on the show we were we like assigned

It was after the show I think I went to grab my cue and we put some Bitcoin on there and did it. Maybe it was during the show. I forget, but it took like all of two minutes to do, um, because Cove works really well with the queue and the camera and the QR codes and all this stuff. You can't really beat this. And uh, I, I, I commend Praveen because in a place where everyone... Oh, fuck, look at this. How did he get this link?

In a time where everyone is doing all kinds of nonsense, I applaud Praveen for not starting a Bitcoin treasury company instead, which would have been easier to get funding for than his wallet. So this was a planned thing. I wanted to surprise you and everybody that Praveen is coming on because Cove is now officially live on the App Store. Praveen, the man that's behind the Cove Wallet project, thank you for joining us today again. Thank you. I will walk into nice things being said about me. Well, maybe you could talk us and tell us exactly where we are at with Cove

because there was an update today 1.0.1 that came out today maybe you just give us what's the latest update what cove really is who it's going to be for and maybe future roadmap what's going to be coming on sounds good um so the latest update uh it's just a few bug fixes you know after 1.0 there's uh just like some visual stuff, you know, smaller phones, just edge cases people run into. So that was a small update. But Cove, for those that don't know, is basically we're trying to be the... The goal is to be the best on-chain mobile wallet. And to do that, we want to focus on just being on-chain.

Nothing too fancy. No multi-sig, no lightning. So, Cove, I say Cove is just about, just as much about what Cove does as, sorry, Cove is just, is about as much of what it doesn't do as what it does, right? So, we're never going to do lightning, never going to do multi-sig, but we want to be the best, just on chain wallet right and then that we want to be simple but powerful so there's like some simple ones but that you know you can't use your hardware wallet with for example or you it's hard to connect your own node stuff like that right so we want to be simple for newcomers but we want to we don't want that people as they learn more about

Bitcoin and grow in their Bitcoin journey we don't want them to have to switch to another wallet. So because of that, I built it for me as much as anyone else. So I wanted to have all the features that I use, right? So I can connect it to my own node, for example. I can do UTXO management, which is huge. So before COVA, I was using Green Wallet, which was like the nicest looking iOS wallet, like one of them. I know people like Blue, but I wasn't a fan.

So, but the problem with Green was you can use it with like Cold Card. It didn't have PSPT support, right? So I mostly use Cold Card. So that's the hardware wallet I added like full support for first. So works with the Q1 MK for MK 3 NFC QR code their standard and also

Support for tap signer. I don't know if you guys use this tap signers. It's pretty nice. I have used it. Yeah Yeah, so it's up. So it's working with that Yeah, and oh, yeah, the other thing Green didn't have was basically UTXO management, right? So you couldn't select which UTXOs to send from. So I was actually pretty happy with how the UTXO management stuff came out because you can search for the UTXOs by all these different types of stuff. You can really because like you got to work with like the small mobile screen, you know. So I tried my best with that. Find the UTXs you want, select them, and then send a custom amount.

You can do consolidation transactions and stuff like that. Your UTXOTags transfer, right? Yes. So there's a standard called BIP329, which is the label standard. So Sparrow uses that. And basically you can, I use Sparrow on the desktop, so I needed a way to basically transfer the two easily. So you can use files, but the nice thing is also, Craig, Craig Ra added support for transferring using QR codes.

So on Sparrow, you can go and hit export and say bbqr export and you just scan that from Cove like it's any other QR and it'll bring all the the Q all the labels over. It's sick. I have two questions for you. The first one is I noticed when you released 1.0.1 you you mentioned in the tweet, or the cove account mentioned the tweet, which is an account people should follow. I think it's just cove Bitcoin wallet maybe. I don't want to fuck that up. But you mentioned that you're going to do...

Cove wallet. Yeah. So you're going to do the change logs on Git as opposed to in the app store. Do I have that right? You can do it both places. It's in both places. But if you go to GitHub, the link is in my website the the way I think the reason you thought it was called Bitcoin wallet is because that's the website called your right and wallets.com

Yeah, the link to github is there in the footer but basically there's just like one big changelog file that has all the changes and From it's just it's just easy to refer to one file. But if you if you have it on your And from the, it's just, it's just easy to refer to one file. But if you, if you have it on your, um, on, on the app store, on your phone, you'll see it on there too. Like every time you get an update, it'll be the same information. It's just, you know, how you want to, how you want to read it basically. That's great.

Cause people obviously in Bitcoin want to know that second, um, second question, how does it feel to be famous? You did Bitcoin review with MVK. I didn't, I didn't listen to it yet. Is it more or less than four hours? I need to know that before I hop on to listen to that. I think the reason Bitcoin reviews are short. This one was only I think an hour and a half or less maybe hour 15. Yeah. Okay. We go into a lot of what Cove does and is and all that.

That is not a short Bitcoin review, by the way, the early Bitcoin reviews, like, you know, you were, you put it on to go to sleep. It's still beyond when you woke up. So yeah, MVK shortened it out a lot over the last few months. I enjoy, I like old, old long ones. Oh, we'll do this for a few hours then. Does it do passphrases? Not yet.

Not yet. Like a hot, you mean like a hot wallet where you can add a passphrase to it? Yeah, not yet, but that's in the roadmap. So talking about roadmap, I think the thing that most, that's most requested has been Android. So, that's coming, but it's going to take a little, a little time. I'm taking a little break from it right now, just cause I worked for a year. So, but once I get back to it, that'll be the first thing I work on.

But basically this is a full native wallet. There's no JavaScript. It's all written in like iOS,, their language. I try to make it easy to build for Android, but I still have to build a UI separately. So that's why it's going to take a little longer. There's other technologies people use that you can basically have the Android and iOS app at the same time, but there's trade-offs that come with it. Sometimes they're slower, sometimes they don't look like they belong on the platform. So I really wanted, like for the iOS app, I wanted it

to look like, okay, has Apple made an app, a wallet app, what, like, what would it look like? And I mean, I don't know if it's like, if we got there, but I think it's pretty nice looking. There's definitely some improvements we wanna make, especially with like their new design language is changing and all that. But yeah, so Android number one, probably requested feature, what else is there?

People want more privacy features like pay join, silent payments, but probably a loud minority, but those are nice features to add as well. I have to check my list. I have a whole list. Another thing I want to do is make it easier to connect to your nodes like at home. There's also this thing called compact block filters. We're basically, right now, if you don't connect your own node, you have to use a public node, right?

So this is just a different way of getting transactions that's much more privacy focused. So instead of sending individual addresses to these nodes, you kind of get them block by block. So then it's hard to say, like, no one will know from your IP address, like, oh, which transactions are his, right? Because you grab an entire block. So there are trade-offs, but it can be slower. But if you don't have your own node at home or

don't have a way to connect to it, this is definitely a nice alternative. So I have never heard of this in my life. Len, you're like the node master. You've never said this to me once on this show. I've never heard of it because for me to connect to my node, I just, I don't have to deal with this. I mean, I don't know. I don't want to get too deep in this, but like, are people, this is something that people are asking for?

Um, well, they don't know. It's something they don't know they need yet, but you think they need it and they'll appreciate it. They don't ask for it directly, but people want basically they want more privacy, right? So they want tour support, which is fine I mean I'll add that but that comes with a lot of UX trade-offs because it's slow, right? So this is some like people have been working on this as a basically a privacy preserving way of you know connecting to public notes. Which signing devices work best on this? And there's any ones that are popular that don't

connect. There's no way that anything works as good as the queue. The stuff that we did while you were on and the stuff that we did after we ended on the, on my queue was like incredibly seamless. I'm not technical at all. I barely use the queue. I think that was like the second or third time I turned it on. So that's the. But yeah, it got to be. I'd be surprised it was something else. Yeah. So Q is definitely the nicest. Well, MVK sent me a Q to test with. So thank you. I was able to, you know, use that before that I had an MK4. So MK4 also works decently. But honestly, I prefer using QRs to NFC.

Like once you figure out exactly like where the place is to hit, NFC works, but QRs are faster and nicer. So definitely Q works the best. And then I'd say, tap center also works really well. It's a tap center. NFC is like really fast. Like you don't have to figure out where to tap it. The problem with the MK4 is if you know exactly where to put your phone to the MK4, it works. But until you figure that spot out,

it can be a little annoying. Yeah, so I'd say- How about the Jade? The Jade does have a QR code reader, but it's not very well reviewed. Yeah. So, that actually reminds me that's on the roadmap. So, Cold Card Products and I don't know if you heard of Crux. It's like a, like do-it-yourself hardware wallet.

They both use the BBQR standard for animated QRs. So I supported that because it's much easier to support. It's simple. But unfortunately, Jade and Foundation, they use a different standard called UR, which is more complex. I don't like it, but it came out before BBQR. So, you know, there's some people using it

and that's been a pretty highly requested feature to support that. So that will be, honestly, I'll probably support that before the Android app just because it should be faster. So yeah, that's another big thing. But you can still use it with hardware wallets that you just can't use it with their QRs. So if you want to shuffle files back and forth using iCloud, it's doable. It's just, you know, it's not the nicest right now. Yeah. Okay. That's I don't have any other questions.

Praveen, that's great. I guess then it works for like the other ones, the passport, it works for Trezor. Yeah, it will work for password. That standard is different though on the on the password. Yeah, it will work for the passport just not with QR um I don't know yeah I don't know if Trezor lets you I don't know if Trezor and Ledger let you work with PSPT's directly but you know we support the standards so if they let you work with PSPT's yeah unless PSPT is a ticker for a shit coin I don't think they're gonna let you use one of those hardware wallets so yeah and yeah anybody that doesn't know PSP is like, if you've ever done like the MK4, like moving files around with the SD card, like the file you're moving is the PSPT.

So QR is just another way of moving the PSPT. It's a dot PSPT file. Yeah, you can see it in your, especially when you Sparrow, if you're testing a hardware wallet that you've air gapped, that SD card, you sign part especially when you use Sparrow, if you're testing a hardware wallet that you've air gapped, that SD card, you sign part of the transaction and Sparrow part of it on the device. But even if you're using one of those other wallets and you're using it with Sparrow,

you can use Cove as like a watch only wallet because from Sparrow you can show another QR for the descriptor, you can scan that and then you can use it as a watch only wallet. It's just, the QR has become more necessary show another QR for the descriptor, better. It's way easier than any of the other stuff you can do in terms of like data, quick data transfer to, you know, get two devices on the same page, right? There's not much you can do better than that. Yeah. Yeah. Praveen, I appreciate you coming on. This was spur of the moment. And not only that, he's got a very tight schedule. So I don't want to keep him much longer because he's got a tight schedule. He just says he's taking a break. Tight schedule. How I, uh,

I'm taking a break from Cove, but I'm doing other stuff and I'm coming to Canada. Oh, I don't want to say anything. Corn Lord's meetup. So yeah, he's got shit to do. So, you know, traveling is going to be the first time traveling with a baby. Oh, man. Fuck. Yeah. Yeah, I don't envy you, but we'll trade stories. I'm sure I haven't done it yet, but I'm interested to see how things go for you. Yeah. All right, buddy. Yeah. Thanks for coming, dude. I appreciate it. That was a nice, nice chat there. Yeah.

Have a good one. Talk to you soon. Len, well done there. Good, good surprise. Yeah. How did you, when did you set that up? Like 10 minutes ago? Oh, this morning. Okay. Yeah. Yeah. This was before 7 AM. I love, I love Cove. Praveen absolutely crush that. Like the experience is clean and I don't remember if we did it during the show, but for sure after, no, I think it was during, cause I was kind of like zooming around and trying to make it look, look pretty on the screen. He had the whole iPhone slash Apple design language laid out and he was sort of picking and choosing elements that his graphics guy was helping him with

to put into the app to make it look like an Apple product. And it, Apple does a lot of things not so well, but man, the design language they use is like pristine. It is top tier apex predator of UI. And that's really well done by him. I think the other thing I would say to people who are kind of like on the fence or using blue or green, at the very least you should download Cove because more competition forces improvement. And if everyone's just

using these other two wallets, then they're never going to get better. Meanwhile, you got a guy who's funded by OpenSATs. So had to earn some of that funding by going through their board, obviously. And I think way over delivered on this man, way over delivered. It's a great product and I don't use a lot of mobile based stuff for Bitcoin, but you know, the sort of walkthrough that he gave me and the experience I've had with it since, it's outstanding. You're not going to find a better wallet than this on the mobile side, period, in the story. All right. So we don't have that much to talk about. So that was quite a bit of time we discussed. We dedicated that, but I still have a few stories. Sure. Coinbase. Yeah, they were making some news this past week because of the new Coinbase One card. It's the name of it Coinbase One. And according to Coinbase, this is a

new credit card exclusively for Coinbase One members, offering up to 4% Bitcoin back on every purchase. It's a partnership between Coinbase, Cardless, and First Electric Bank, and it runs on the American Express network. Don't leave home without it. And this, that's all from according to Coinbase. So if I got that wrong, that's Coinbase's fault. Yeah. You know, this is an interesting product. A lot of people were saying, oh, interesting and nice. Maybe I'll buy it. Maybe I'll use it. And which is fine. But, uh, and I'm all for stacking corn, more corn, or finding

new ways to do it is great. But we have to also remember to all the bullshit that Coinbase has put us through an over the years. Right? Like, you know, remember coin, remember base, they promote the Ethereum layer to blockchain and they're, they're pushing this thing and saying, basis for everybody. No, it ain't for me, man. It ain't for you too, Joey. But certainly it ain't for me. Take that bullshit elsewhere.

And don't forget, they were part of the large block size camp back in the block size war. They were also one of the folks that signed the New York agreement. Supporting any of their products is potentially supporting something that may not be for Bitcoin. They had every opportunity to be pro Bitcoin over the years. They were air dropping shitcoins, trying to educate people on shitcoins. Remember that back in 2018? I think it was 2019.

So using a product like this, yeah, it may be good stacking more Bitcoin, but still in the end, you're funding or helping a product company that has not been very fond or very good to Bitcoin. And I don't know, just choose wisely. Yeah. The only thing, okay, first of all, I like this comment that I just saw come through on rumble. The Lord God Almighty is coming soon, so I need to repent. Thank you for that advice. That's good information. On the Bitcoin side, on the Coinbase one card side, love the cash back in Bitcoin. Okay, great. Fine. There's interchange fees and probably there's a way for Coinbase to take a little bit of that and give it to me on my purchase. I appreciate

it. Here's the thing I don't like though. You get more rewards, more Bitcoin back rewards, the more Bitcoin and other shit you hold on Coinbase. Did you know that? So they want you to hold stuff on their platform and then they'll give you 4% back. So the question is, what are they doing with the stuff that's on their platform that they can give you that 4% Right? That's a great question. That's the only question that matters. And this is a tale as old as time, Len, you know, and by as old as time, I mean about seven years old, you know, that we've seen these rehypothecation, we're taking risks with your assets, we're giving you cash back, we're putting out credit cards, we're doing all this stuff. That's concerning to me. Other concerning thing, Coinbase has proven in the past to be somewhat political, right? Although Brian Armstrong did send out that email that went viral and gained him some infamy in

some circles and just regular old fame in others about DEI and politics and whatnot in the workplace, he didn't want to have it. Coinbase has frozen accounts for people who are using Bitcoin in ways that certain entities don't like. Now you could maybe make the case that that's a sort of political regime thing. And as the regimes become less interested in that, maybe Coinbase will become less interested in that. Is that a risk you really want to take? I don't know. Self custody Bitcoin is pretty important, pretty easy. And I think Len pretty key to the whole thing. So I get it. You want to get your cash back in Bitcoin. If you're using the card anyway, maybe there's some value there. If you hold nothing on Coinbase, maybe you get 1% or

something. That's not bad. I think most credit cards that are cash back give 1%. So if you want to get it in Bitcoin instead, I think that's a pretty good idea. But I don't think this is anything other than an incentive to push people to leave assets on the platform. And we'll see how that turns out. Coinbase is publicly traded. So they have to declare, I think if they're participating in what could be characterized as risky activities with funds, we've seen in the past, you know, issues with that sort of behavior and intermingling and co-mingling and things of that nature. We've had publicly traded companies, large ones, Bear Stearns comes to mind. And Ron comes to mind.

And they were cream of the crop at one time. They were very well respected, but creative accounting could hide a lot of problems. And not just, didn't Enron have one of the major accounting firms out there? Yeah. I mean, you said this to me before and it is true. I don't think it is actually valuable though. It's like these guys are just participating in the scam as much as anyone else. Like the big four, KPMG, Deloitte, whatever. If there's enough incentive, you could fuck with the books, put them all you want. I agree.

You could hide shit and who's left holding the bag? It's the last people that are holding on to that particular thing. Boomer in the chat has a good question. Is this the first... I'll just read the full comment. We can talk about it. We're going to see more of this incentives to keep your stats on exchanges. We're in the first inning of this. Do you think that's true? I'm not a hundred percent sure. Pleditor outlined this like borderline schizo scenario where Michael Saylor, Coinbase and sort of people on that side of Bitcoin frame anything that's not on

exchanges as dangerous to the ecosystem and dangerous to the dollar and they want people to have their stuff held in ETFs and you know Bitcoin yield of whatever else is out there and they want people to have to be incentivized to keep things in the gated, what is the word I'm looking for? In the gated garden, the walled garden as opposed to outside money like we've talked about before. I actually don't think that's true, but I'd be curious to hear your thoughts. You are a little more concerned about this type of thing than me normally.

So what do you think? They should release and provide us some proof that it's owned. Where is it? And like that coin base, everybody should. Everybody if we're dealing with with public money that should be publicly traded, right, like a company that could be more upfront, give us some more transparency, don't fucking hide this bullshit. What's the point?

This whole putting Bitcoin in the treasury stuff is getting out of hand now. I just, I got into a little bit of a spat today with a few friends like Ben, who's a friend of the show. I met him at the Rockstar event. You may have too. He was with other Ben Perrin,

talking about the Bitcoin treasury companies and some of the, I think marketing spin that they're putting on stuff I I fully admit that I could just be out to lunch on this and that there's no you're not yes I'm missing but I don't think I am and I want to just point to John's comment here John This is a great comment. Absolutely Remember everyone is a scammer. Everyone wants your sats. This is great The first step is separate you physically but not legally from your sats. The next step is separation forever.

I actually think there's probably some truth to that. It's hard to possession is nine tenths of the law. We have so much fucking evidence to show why you wouldn't want to trust anybody with it. I don't want to go through them because I may get in trouble just rhyming them all off, but do some fucking research. Now you join people out there, do some fucking research that wanna do this. Like I have, you know, if there's a company out there, public or trader or not, I don't give a fuck,

that goes out and uses its profits to buy Bitcoin, I'm cool with that. Same. Right? Like if they want to direct some of their work. It actually shows me that they're more advanced in the C-suite than perhaps companies who are not doing that.

It could be a very small percentage, like one hundredth of one percent. It could be something so small or it could be a large amount, whatever the fuck it is. I respect that because they're not risking anything but what they've already earned. They went out there, they earned a profit. Now they have this and they figure instead of doing a stock buyback, instead of buying bonds, let's buy some bitcoin. Respect if you do that. But to go out and do like let's look at like micro strategy for instance like or the equivalent of all these drop the micro and just do strategy it's cleaner

or strategy all these Johnny come Lailies that are doing the same fucking thing. All these Johnny come lately is that are doing the same fucking thing. Forgive me. Like, see if I have my, my thought process is wrong. They want you to buy their stock, right? They want you to go there and buy it with the intent that it's going to increase the valuation because more people are like minded and buy into it. And there's more, there's more people that want it. And then the price of the stock goes up. And and then as a result the price of the company goes up right we lose it going i'm still there i don't maybe like cord is loose anyway keep talking i can hear you so that's the value of the company

goes up now with that they could then dilute and buy more corn or they could play fiat games with this strk or where the fuck and just with that buy more Bitcoin and with the purpose of then holding it or giving it to somebody else to hold to increase the dollar value of the companies like you you want somebody to buy into this and with the hope that the company doesn't lose the Bitcoin the price of Bitcoin continues go up that they don't rug you somehow and you're able at the end of the day you're gonna be able to pull out your fiat gains, and do what with it?

Probably buy Bitcoin. And now you're gonna have five, six, seven figures worth of fiat, and you're gonna buy Bitcoin cleanly, anonymously, like the government's not gonna know the fuck you're doing. It's not hard, it's impossible at that point. So why go through this whole fucking process? It's shit coinery if you look at it.

You're trying to somehow circumvent just buying Bitcoin, but do some other thing to come back to eventually to buy more Bitcoin when you can just buy it in the first place, clean, simple, and you own it and it's yours. Nobody can say anything. What the hell? We're losing you again, Joey? No, no. I'm going to figure it out here. Something's yours. Nobody can say anything. What the hell we're losing you again, Joey No, no, I'm gonna figure out here something going on with this. That's the way I look at it. And why would anybody? Want to even do anything like this? You're just playing more fiat

You're just involving yourself more in this fiat environment. You see all the problems that come along with it again I don't want to rhyme all these things, but we had something that it transpired and our nation's capital just two years three years ago you want to be on the same side of that like do you want to know you don't if you have your Bitcoin as long as you do it right nobody can touch it it's wonderful stuff if you don't want to do it you want to play fiat games have fun staying poor hopefully it works out for you in the end but somehow you're gonna have to convert those shares into cash and that cash into Bitcoin at a time where probably it's going to be very difficult to do if we plan thing over, we're plotting things out and it's going to go the

way we think it's going. So good to fuck. Like I just, it doesn't make sense to me why anyone would want to do it, but still people are like, Oh, gaga over these fucking companies that are doing this. I don't think it's necessarily, this is the thing I said today and I'll say it again now. And then I'm going to just work on this camera for a sec. I broke the USB cable. That's the problem. There's a group of people out there who I think are broadly pretty sharp.

Friends of ours, I'm in a couple of chats where people are talking about this and there's a lot of people out there who invest in these companies who say they're doing it for the BTC yield, right? This new metric, this BTC per share, blah, blah, blah. I have a problem with this for a couple of reasons, but the big one is that I don't think there's actually like, I don't think that's actually honestly why people are investing in those companies. And I'll tell you why I don't think there's actually like, I don't think that's actually honestly why people are investing in those companies. And I'll tell you why I don't think that. If you ask the BTC per share people, okay, what the price of micro strategy is, do you think they'd know it give or take, you know, 5, 10%?

Maybe the hardcore would know it, but probably the majority would. The people who own MSTR, Len, and say- The majority won't. You don't think they'd know the price of the stock they own and talk about all day on Twitter? You don't think they know what it is? I think they represent a small number of people. I think they're hardcore.

I think the people who talk about Bitcoin per share, Bitcoin yield, and Bitcoin torque would know exactly or close what the price of MSTR was day to day. But I bet those same people have no fucking idea how many Bitcoin per share MSTR has at any given time. Why? Because only one of those numbers is really important to me and you and people who own the stock and it is the stock price. Why?

Because the yield is never distributed. There is no distribution. There is no sharing. There is no distribution. There is no sharing. There is no anything. In MSTR's documents, they make it explicitly clear that you own zero Bitcoin. In insolvency, you get zero Bitcoin. Anything happens to the company and they go under, they have to go private, whatever. You get zero Bitcoin. Nothing. Nothing in Bitcoin. Okay. So if that's the case, what does that BTC per share mean?

It's micro strategies, buying, buying Bitcoin on their balance sheet. Good like that. But to say to people that they are, they are getting Bitcoin yield is misleading. What's happening is your shares represent more Bitcoin in terms of micro strategies assets than they did before. That's fine. But it's not assets in the way that it's being described, you know, and it's not a yield in the way that it's being described. It's marketing, which is okay. If you want to be a marketing, you know, if you want to, if you want to win on marketing, that's okay too. I'm fine with that, but no one is like, no one is actually buying the stock for those

reasons. Why are they buying it? Then because it's outperforming everything else and so performing everything else because right now that marketing is working, but if and when it stops, it's going to stop hard and it's going to beat a lot of people into the turf. And it's not about, yeah. I mean, yeah, I see like stuff about the MNAV, you know, the multiple above net asset value is good or bad. It will go down hard, but they're going to hold, I'll give them credit here. They might hold. I think they'll hold. Yeah. I think they will hold. I'll give them credit here that they probably will.

Okay. Talk about it. I got to mute my mic and get another wire into this camera. I can't say the same about all these other companies that are doing the same, that are just picking up and trying to copy the micro strategy playbook. If there's a huge drawdown in the price of Bitcoin, they're buying now in the, look, the 107, 105, whatever the fuck they're buying in. Is there a possibility next year, two years, three years, that the price of Bitcoin is below that, significantly below that? Possible. And if that does happen, what happens? What's the possibility of these companies then starting to flood the market with Bitcoin because they just want to liquidate what they have because they're not as hardcore as strategy is with holding under Bitcoin.

And that's going to create a whole new set of downward sell pressure for the price of Bitcoin and just negative flywheel effect. And there you go. You have more and more people selling Bitcoin and it just continually drives down the price of Bitcoin. And that's what I fear is going to happen. Is that a good or bad thing? The price is irrelevant in a lot of things. It really, what really matters to me is how many sats I have. What's the value of it? I know over time it's going to be like, I don't care what it is doing. Yeah. And like you don't have to worry about like creative accounting to tell you that you're, you're up in sats per share. You're up in yield.

I don't care about share. It's just, I would just, I think you're right. And I would just also point to one other thing. Okay. I say this all the time. I'm going to say it again, because I think this is a, it's an important signpost. MicroStrategy has engaged in a ton of very complex, let's call it complex... Fiat wizardry. Yeah, it's, you know, financial engineering, let's call it, okay? It will be as flattering and as

neutral as we can. I don't think there's anything wrong with that necessarily, but to pretend that this is not novel is wrong. To pretend that this is proven is wrong. And to pretend that a two or three year track record at a time when stocks and Bitcoin are tied more closely to M2 than anything else is, I think, also wrong. Okay, so those three things you can't ignore. I will point again to as the strategies have become more complex from MSDR, the willingness of Saylor to engage with anyone who doubts him has decreased to zero. There's an inverse correlation between those two things.

And I'm waiting for him to engage with somebody with chops who understands how this works, how it might fail, and how the BTC per share metric is really just marketing. And I was, I don't wanna say accused, because I was talking to people who were being very cordial with me, Stefan Lavera and Logical Bitcoin and a few others this morning.

I will admit that, like I said, maybe I don't get it or I'm missing something. I will also admit that maybe this is a semantic issue that I am overreacting to. But I will tell you that the only reason you should be buying MSTR is because I think the price is going to go up. Anything else, any other reason for which you are buying MSTR is incorrect. No, no, even if you think it's gonna go up, what's the end game for an investor? What's the end game?

You gotta sell, you gotta sell. Yeah, yeah, I know, I totally agree. I totally agree. What are you gonna do with said money once you sell? You gonna buy a car, you gonna buy a house, you gonna buy Bitcoin, maybe all the above? Whatever, yeah. How difficult is it gonna be moving forward

to buy a large amount of Bitcoin with all the spoils of the gains from this? Selling of the yeah, that's another angle to take right you never know This is the fucking angle because you think this is this is it because everything else up until this point is Meaningless because if you can't use that money to buy corn It's fucking this whole thing is just it's just exercise and wasting time Yeah, that's all it is and you keep that money you keep sloshing around in that fiat system But if you can't take out that money because the bank says no you can't you try go to the bank today and try taking

A 15 grand they'll say no. I just tried I tried to take out seven today got a hard time about it. I don't want to Allegedly, I went to the bank. I ended up getting the money, but yeah, everything is a fight. You're right. Everything is a fight. This is your fucking money, man. Everything is a fight. And 7,000 today is what is worth tomorrow, two fucking years, three fucking years from now. That seven grand will be for less than it is today. And you'd be fighting for that. And they'll say no. And you'll say, oh, I made so much in MSTR and I'm going to be able to buy Bitcoin. Good luck. I mean, I hope you can, but if you can't, you just missed out on the boat for buying it fucking right now. And because of that, you'll be on the still in Fiat. Good

fucking luck. If you want to do it, all the more power to you. All I do is I just lay it out the way I think it's going to happen. And if it happens, great for me. If it doesn't happen, great for you. Yeah. I don't even remember how it got on this topic. How did we start this? We're talking about Coinbase. Coinbase, that's right, yeah. Oh, there you go.

Let's, one last quick story. I love this fucking dollar here, this Singapore dollar. Tether, they plan to open source this's bitcoin mining os or you heard about this one Mls, i'm moss. I don't know. I'll call it. What do you think? What do you think about this? I think it's interesting. I think there's a there's a story behind this all right? Um Now for people wondering what the fuck this is they plan on releasing this for everybody to use It's going to be available q4 2025 and Tether what what are they?

They're a for-profit business. They're not a charity. They're for-profit. So why would they do this? Would they do this to appease Bitcoiners? Are they open source maxis? Maybe, maybe. I think there's a third angle to this. Do you remember not too long ago, swan Bitcoin was dealing with them, a bunch of employees that were in the mining that they fucking left swan and started up a company, forget the name of that company, but they started up that company. I do remember with tether and then it was a lawsuit launched by swan. And I think this is a way to prove that there was no intellectual property taken from that whole exodus of employees. Like through this, you could analyze the code line by line and do a comparison to see if

there's anything with Swann's alleged Bitcoin mining operation. And if there is none, then the lawsuit would then just fall on its wayside. There's no basis for it to go through. I think this is just a way to deal with legal problems and it's a simple easy way to do it. It's not gonna cost them very much to do it and at the same time it looks good in the community. Look we're open source guys and so it checks off a lot of boxes. I think it's to appease the lawyers and to deal with this lawsuit, that's my guess. Maybe. No one does anything for free, right? So there's some self-interest here somewhere. The best part about this being Tether is that even though this would otherwise kind of be

a 24-hour, if not less story, there's so many people who want Tether to fail that someone is going to poke around in this over the next few days and see if they can find something like that and we might get lucky but I don't know the legal ramifications of something like this. I don't know if it would you know prevent them from being the target of Some

If there was intellectual property that's it. Yeah. I was stolen. I don't know. Well, proof isn't a pudding. Here's the code. If there would be anything that matches. Yeah.

Swans. Yeah, people are pretty litigious. Like, I don't know. I don't know if that's enough to say no. It's, you know, it's there for everybody to see it's, and you could do easy comparison. You can have somebody look at it and say, look, there's something here that's very similar or they're so far apart.

So maybe maybe I'm looking forward to seeing what happens anyway. But tether tether is like expanding in all directions right now. And people I think are still pointing to they don't have the reserves. Like if you're a tether bear, you have a lot more ammunition now to see what these guys are to see if you can bring these guys down given the number of things they're expanding to whether it's the 21 thing or USDT in America or whatever there's there's tons of tons of opportunities now to be looking at these guys with a critical eye that you just didn't have even a year ago. So That's Heather bears need to up their game It's time to stop looking at whether or not tethers back one-to-one

There's some other things here that you should be looking at if you're trying to take these guys down Trong in public boomer in the fuck is this crazy? But did you even see I saw Charles I saw that and then Charles called Cardinal was saying that yeah Yeah, so you think he's gonna fucking start selling some of his hundred million ADA for Bitcoin to buy what? Bitcoin and soccer USDT or USDT for if your Asset is gonna outpace Bitcoin then keep it But the fact you're doing this is admission that your fucking shit coin is not gonna do it like and And you're saying they're doing this with the intention of buying more ADA. And if you like,

get the fuck you talking about, what can I say, man? There's nothing capitulated. And then anybody else is buying fucking ADA after hearing this, you are a fucking idiot. You know, Hoskinson is like 28 or 29 or something like that. He's like, apparently super young. You know Hoskinson is like 28 or 29 or something like that. He's like apparently super young. I But he looks he actually looks Fucking dumb if anybody out there is gonna I'm gonna buy him for the more idiot You're a fucking moron This guy's fucking buying Bitcoin and he's the guy that's part of the project if he's doing this I can sell all your shit coins and buy Bitcoin. Nothing else fucking matters

So you're everything in your TFSA RS RSP, 401k, all that bullshit. Just buy corn. Fuck this all. So pretty crazy. I'm looking at the age of these people. Garlinghouse or Hoskinson is 37. It looks like he's about 45. Garlinghouse, the Ripple CEO, looks, I don't know, fairly young.

How old do you think he is? I don't even know what he looks How old do you think he is? I can't even know what he looks like. So I'm really he's 54. 54. I would think it was like in his mid 40s. You put them in a line of two people have a 50 50 chance to guess it who the fuck it is. Yeah, I don't know. I will say so. Polly is saying in the chat that he's asking how shit coins are still a thing. One of the things I really like about the Bitcoin treasury companies is they are for sure taking the wind out of shit coins this cycle and everyone can see it, especially the Ethereum guys. They can fucking see it more than most because Ethereum used to be the high beta Bitcoin

and now it's just dead in the water along with all this other garbage. So I'm enjoying at least that part of the Bitcoin treasury companies. Anyway, you want to go over to the notables here? Yeah, yeah, yeah, yeah. Okay. God bless. Good night. All that good stuff. If you're on video, stay with us. If you're anywhere else, come back tomorrow for the back half. Until then, we will talk to you later. And don't be an MSTR beta.