The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Will Rate Cuts SEND Bitcoin to a NEW ALL TIME HIGH? | The CBP 231 Pt 1

Episode Date: September 9, 2025

FRIENDS AND ENEMIESAre YOU ready for the Federal Reserve to cut rates? Has there been a better example of rate cuts at or near all-time highs in both Bitcoin and the stock market? We're in for a wild ride - get stacking and PREPARE FOR RATE CUTS. Also this week - protecting yourself from Bitcoin scammers, Gavin Newsome's memecoin, Keir Starmer wants a digital ID, and MUCH MORE.___________ Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com⁠Discord:   / discord   A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetworkThis show is sponsored by: easyDNS - https://easydns.com EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. With DomainSure and EasyMail, you'll sleep soundly knowing your domain, email and information are private and protected. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for 25% off fees FOR LIFE, and start stacking today.256Heat -⁠ https://256heat.com/ ⁠ GET PAID TO HEAT YOUR HOUSE with 256 Heat. Whether you're heating your home, garage, office or rental, use a 256Heat unit and get paid MORE BITCOIN than it costs to run the unit. Book a call with a hashrate heating consultant today.The Canadian Bitcoin Conference - https://canadianbitcoinconf.com/ The PREMIER Bitcoin Conference, held annually in the great white North, where Bitcoiners come together to share stories, build momentum and have a great time while doing so. Whether you're a pleb, business, newcomer or OG, the Canadian Bitcoin Conference wants to see you in Montreal, October 16-18 2025. Don't miss this one!

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 slop. It 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 the entertainment and information you can trust

send the guys some value boost them with some stats bitcoin is the scarcity acid i mean it's just a fact geopolitical national down to the local cloud friends and enemies are we going to get rate cuts are we going to an all time high it's good to be back my name is joey that's len and uh I mean, Len, we got a lot to talk about. We got some weak U.S. data last week. We got some new projections on rate cuts in the States. It's a good time to be a Bitcoin. And the price is reacting, too.

What is the price? I think it went up a couple thousand bucks over the last few days. You were saying it's going to pump. I take a look. It's 112. Now, look, 112. I asked this six months ago. Yeah, it's a pretty decent price.

Asked it's a year ago. Great price. So it's all relative. But yeah, man, we're still like 10% away from an all-time high while gold is ripping. Yeah, S&P, what's that doing? I haven't followed that. I haven't looked recently, but I suspect it's within a stone's throw of an all-time high, if I had to guess. I mean, all these charts, you look at them, it's all just up into the right. And the up-into the rights are getting more, they're getting more volatile.

Yeah, they're getting more volatile. I think there's a lot of people who realize that it's a fool's errand to be holding cash in this environment. And so you're watching people now take on debt in real time and park it in markets, in Pokemon cards, in Bitcoin. anything except the Canadian dollar and the US dollar too for that matter. So yeah, interesting times here. I prefer the good old Singapore for in. Yes. Shut to you. One dollar. Shut to you. Yeah. Big day. Let's do the sponsors first. As always, EasyDNS. Best place for you to host your content, post your website, your business, all that good stuff. Mark is your friendly neighborhood. Registrar tons of stuff available for you at EasyDNS, including easy mail and domain share for a

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and get 50% off the first round of buys, which you cannot beat. CBP Media, use the code. Well, Bitcoin is a great place to buy, great place to sell. Do whatever you're going to do with your Bitcoin. They have it all available to you under one roof. On chain, lightning, on chain fees. I haven't checked in a little while. I think it's relatively cheap,

so still do your buys and sales on chain, but still the lighting option exists over there. They're non-custodial. This is what you want in exchange. You don't want somebody to hold on to your keys. You cannot make a buy without providing a Bitcoin address. It may not have to be a proper Bitcoin address, but at the very least you have to provide something to them

to facilitate the buy. This is what you want in them. They're available in a bunch of different countries. Canada, Mexico, Costa Rica, Western Europe, a bunch of countries there. And recently now, Argentina. Oh, that. Yep.

So if you're there, Argentina pesos, you could convert that to Bitcoin. Check them out. You could also send e-transfers in using your Bitcoin to do that. So if I have to send you money, Joy, I could do an e-transfer, but use Bitcoin in order to have it sent over to you and you get cold hard cash. What you don't want, it seems like, in your account. And also, you can pay your bills with Bitcoin. Check them out.

Use our promo code below or link below. If you do that, then all buys moving forward forever. will be slightly cheaper check them out bull bitcoin.com don't forget to sponsoring the show until the conference the canadian bitcoin conference you should be getting a ticket to this thing i think they're they have uh discounted tickets for a little while longer and uh if not you should just message them and see if they'll give you a discount because you heard about it here i'll be the mc again this year lend is not going to attend again this year and uh you can meet me and the bull guys and every person you listen to watch on youtube and your podcast platforms and get a couple of beers

and I promise that maybe not the first night, but the second night, I'll send a few tall boys back with whoever's out there. I'm looking forward to doing that again. It's the best conference, Len. Talk to somebody today who messaged me about another podcast appearance. I won't mention who. And a Twitter space appearance in the traditional finance space, trying to build interest for Bitcoin and Bitcoin as a, I don't know, what do you call it?

it's a turmoil asset. I think that's a good name for it. I'm coining that tonight. And I think that you guys will enjoy that. Anyway, so you should be looking at going to the conference if you haven't already. October 16th, 17th in Montreal or 17th, 18th.

I forget the week after Thanksgiving here in Canada, though. So be there or B-square. I am not reading that comment in the chat. Let's do some boost? What if somebody put that comment in a boost? Do I have to read it? You have to, I guess. Yeah.

I mean, whatever. We'll read anything for the, if you send a boost with, comment that's off color. It has to be at least $5 to boost. It can't be... I have filtered a few of them in the past. Yeah, okay.

We have wartime sends a couple of them, 133 sats each. Number one, he says, back and bring the heat with a couple of dynamite charging or being exploded there. So yeah, like that. Second one, he says,

for 133 sats is a couple of beer mugs clanging together. Cheers. And maybe you can go have some beer with Joey in a Canadian Bitcoin Conference of a troll. Totally. October 19th and 20th, I think it is? It's not.

It's a weekend after Thanksgiving. It's like the 16th and 17th, I'll tell you right now. Keep reading the, keep reading the things. Last we have, Jare, 5,000 sats. 16th, 16th, 16th, sorry, go ahead. He says, our local not-for-profit youth soccer club is a L-M-I-A qualifier. We've read the stories about the bad ones getting through. immigration and citizenship can't seem to prevent it.

How in the name of Hamilton Man is the OPP supposed to form a comprehensive vulnerable sector check on a brand new entrant to Canada? Great point. Great point. You shouldn't be sending your kids anywhere where there's LMA people working, period, and a story. If you see a new home. Well, I will tell you that my wife and I found a daycare near us that is private and licensed. and is just one woman and five kids comes highly recommended we were lucky met with her today i'll tell you more about that after the show because you get a kick out of the story but i i am thinking

about this more and more um the idea that you would send your child anywhere that brings with it risk of a new you know fake new canadian fake asylum seeker fake child fake whatever um coming over here with no criminal record or or an ignored criminal record or an ignored criminal record or an ignored record of any kind. And, you know, for you left-leaning people out there, you know, don't forget, every time you see a story about a new disease outbreak in Canada or a new, you know, measles is making a return, you know, we didn't check any of these people for vaccine coverage. It's gotten so bad in Ontario that our chief health officer, the guy who looks like Lennon, is talking about a vaccine, a digital vaccine registry because the coverage

is so bad. Just don't do it. Keep your kids in your your community, places you trust, people you trust, and keep them away from these fake refugees. Harsh language to start the show. I like it. I like coming out hot like that. Yeah. Yeah.

The problem is, though, these type of individuals, they're basically scattered throughout the society. Yeah. And it's unless you live a very sheltered life or you live in some very sheltered, gated community with all the services. Everything is doable, man. Everything is doable. You got to take the time and invest in being safe and invest in doing the right things for you and your kids. One thing one can do, though, if they don't like certain things, they could vote with their wallet, right?

If they see a certain business doing practices you don't seem to be happy with, just don't give them your money. And if enough people do that, maybe, you know, it will stick. But a lot of this is due to just greedy organizations, greedy corporations or 100%. I have loved. It's greedy franchises. Yeah, greedy franchises. I've loved, Len, that you and me were coming down on this stuff like two years ago now, probably something like that, about immigration, the cultural issues.

And now, even the hub, which is a free website, you can read some of their stuff for free anyways, Sean Spear, who writes for the hub, who is a professor at a Canadian university, I believe the University of Ottawa, writing about how the cultures coming over in immigration are incompatible with Canadian culture. That was unthinkable two years ago, even more so for a university professor. And now it's the public opinion. Everyone is sick of it. I'll just say one more thing I've said before, but just for people who are only listening to the first five minutes, you can pretend that all cultures are equal when the other cultures, the inferior cultures make up one percent of the population in your area. But when they get to five and six and seven percent, the disconnect

and the inferiority of those cultures becomes obvious and it becomes intolerable to have them around and everyone should be feeling the pinch by now, especially if you live in a major city and I think people are sick of it.

So I'm happy to see that. Let's get our heads on straight here and start doing what's best for the country long term. Let's, well, anything else before we transition to... Housekeeping. The Beaulized Rod and Dick

will be on Wednesday night. You're welcome to come to that, Len, if you like. That'll be... Rod and Todd from the Simpsons around there. No, the two Buele guys would be here Wednesday night, which I'm looking forward to. I think have both of us been on that show or just me? I haven't, no.

Okay, so I've done it. It's a good time and I'm looking forward to talking to them. I'm sure that'll be a fun show. And then after that, we have no interviews planned. I'm actually telling Lenn right now that I'm taking a few weeks off from interviews after that show. So go nuts. And if you're interested in the Buegel or don't know about the Buegel, you probably do if you listen to this show. If you don't, I highly recommend you go listen to a few of their episodes.

They're very witty over there. I have to say that Bitcoin is not always the easiest thing to make fun of, but they do a great job. Between all the Lynn Alden and his hot talk, you know, make sure your wife is not running a node, stuff like that. They're so funny. I highly recommend you guys give them to listen. Yeah. I was going to say something about Lynn, but. Better not.

Where do you want to start? Bitcoin stories, I guess, the usual. Here we go. I'm just still debating. Should I know? What can I say? What can I say? Wonderful stuff.

This is 2025. Yeah, let's go to Bitcoin news. Do you want to talk about this stacker news story? Interesting. Yeah. What a fine by you. I can't believe people are still getting scammed out of their Bitcoin, but we may as well talk about it.

This guy has a lot still. So he lost 1.4 Bitcoin. He's a poster on Staport. Acro. News, you should check it out for people I want to keep up to date with what's going with Bitcoin. His name is Lightning Struck. That's his username. And his story, it's quite a lengthy story about how he was scammed by some individuals to the tune of 1.4, 1.4 Bitcoin. A lot people will say, well, shit, that's a fucking lot. And it hurts him, I would imagine. But given his story, he has a lot more. Either way, the guy was running an online marketplace and

it's called Agra. Sorry, Agora. Agora, my same. Agora. Okay, so this Agoraa place, it specifically targets people on stack or news. And if people don't want to sell and buy or sell goods and or services,

they can do it like that. So any merchant in his position, they would be running a lightning node because you're going to be doing a lot of small transactions. You want to have these things done quickly. Lightning is a thing. So anyways, he had a node,

still had it, at least the time he wrote this. And it was fairly profitable from the time he posted it. He, guess he mastered the art of maximizing returns through routing. It's not easy thing to do, but he did that. Anyway, he was trying to sell liquidity with something called Ambrose Magma. And I suppose they wanted him to open a channel with Ambrose Magma. And he agreed to do this for a price. And this is, I guess, some of the reason why he's quite successful with running a note, at least used to be.

Anyways, payment was done in July. No problem. issues with that then they tried to do the same thing in august but ran to a snag the payment was being it stopped because it looks like a cloudware middleware stuff so cloud fair middleware got in away and stopped it from going through so he went through ambrose magma the telegram channel right and he right away that's a problem right let's say we let's like well and he mentioned his issue on a telegram channel and somebody by the name of jesse got in touch with him and you know where this is going ago, right? They exchanged some info and I'm going to read what he wrote here. It says it seems

that they didn't know enough about L&D, but then they would ask for lightning slash L&D specific information and I thought that maybe I was just dealing with somebody that had more intimate knowledge than it was above my head. And he also says he was reached out by somebody named AP and Banoff. And they were both the MINS of the Ambrose Telegram channel. And they both confirmed that he should continue to work with Jesse. And he would find out later that these accounts were imposters in particular banoff was acting like a human and was just simply a telegram bot either way what was asked from him by jesse and crew they asked him to connect his wallet to their system which he did huge red flag and he went on a website to provide the information his

ln dc words who the heck's doing this these days but he did it and his entire on-chain wallet was wiped out luckily he still had more bitcoin so 1.4 was a lot but he still had a lot more so in the end this guy got scammed out there. Now I see this story and a lot of people are getting scammed when anybody comes to you asking for your seeds for anything, be it your L&D wallet, your on-chain wallet, whatever the fuck it is, do not

give it up. When you're trying to go to Telegram, be very careful who you're dealing with. Just try it to, it's easy for me to say, but man oh man, there's lots of resources out there you could find on your own. You could go look on YouTube. You could go on Twitter. You could go on the web and fucking find shit. Try to

avoid dealing with scammers at all fucking cause this is an issue with lightning lightning does work it does have its issues i won't get into this but in terms of what happened here man how does somebody have this much fucking bitcoin been in it so fucking long it seems have intimate knowledge with it and still get fucking scanned like this i can't fucking believe it do you know what the worst part is that every time we talk about a story like this what is the fulcrum all the time like you could make it careful you guys don't even not you could like you could make it through you know weeks of of getting scammed, like getting like, you know, your wheels greased, your gears greased by

bots and telegram groups and DMs and whatever. But then, like, it's always amazing to me that these guys who have been in Bitcoin for so long go through all this and then also give up the seed words. In almost every case, they're giving up the seed words. How does that not set off an alarm bell in your head? people on audio can't see Len is just shaking his head that is the most infuriating thing to me yeah that's I don't know if you look at the chat and the side

for example I don't want to say just in case somebody was asking on the telegram channel about Sparrow yeah and this guy almost fell for a scam where somebody was approaching him for some information so like what I'm trying to get at be careful everybody wants your fucking seeds

everybody want your fucking do not give that fucking thing even if you think you're dealing with me you're not dealing with me because I'm never going to ask for this fucking bullshit if you want to deal with somebody do a tell a video chat like for example if you wanted help for me and I'm going to give it to you we'll do a video chat and you could even trust that I wouldn't even trust that now you think that would be AI'd yeah I think it's already becoming a problem you see these I just saw it then yeah I wouldn't I would never do it like you would just you just you should just never be ever saying, entering, writing down your seeds, except for the moment at which they are generated offline. Like, that's the only time. And after that, you should never be looking

at them. You should actually take them away from wherever you are domiciled because you don't want to have that stuff in the same vicinity as you. It's for two reasons, really. One is your own personal security. And two, is you can get carried away. If you have like a price crash or a price rip, you might be like, oh, shit, I want to sell a bunch of this stuff and buy whatever. Like, just keep the stuff away from you. That's the answer here, okay? You got to keep the chief portion of your stack, like, unavailable. It's got to take time to get to it because then it gives you time to think about,

have I really been talking to people on Telegram for weeks here about, like, this LND stuff? Have I really been, you know, being romanced by a wifu Asian anime? girl on, you know, on Twitter, have I really been offered this job? And, you know, it's, it pays $100,000. I only have to work two hours a week. Like, like these things, the reason they work is because the people executing these strategies ramp up your emotion. And then right when your emotion's at a peak or near a peak, that's when they get the information for me that they need. And that, you can't let that happen. There has to be like a gap that's insurmountable, that's unskippable right in your process that's the thing it's going to save you from a home

invasion it's going to save you from a scam it's going to save you from like your wife getting mad and stealing your bitcoin like it's going to save you and we all agree in bitcoin this is a four-year minimum investment so you don't need any of that shit at your fingertips it's it's obvious you don't need that stuff and I hope people listen to this story and they think they like it's one It is true that the guy is stupid, we'll laugh about it, you know, have our giggles, whatever, but consider that there may come a time when something happens in your life adjacent to Bitcoin that puts you in a position where this stuff starts to look more and more appealing and you could make a mistake. You're going to need that time retrieving a wallet, retrieving a hard bar wallet, retrieving seeds, whatever, before you realize you make a mistake, need that time. And if you don't give it to yourself when you're sober, then when you're experiencing, you know, when you're having a moment. you may find that it's too late and you make the mistake.

Yeah, and you've got to have, somehow you have to still get access to it in times of duress, right? Because you don't know when, what will happen and you have to just get access to it. So somehow you're going to be a balance portion, yeah, the chief portion of your stack, my opinion has been, I've said this on the show for years, that you should not be available to you on a whim. Yeah, so it's a balance. You've got to find a balance between all this. So there is a story that is being talked about today. It is being just reported.

I don't have confirmation of this, but it's making the rounds. And they're saying that there is a vulnerability with the JavaScript ecosystem. And what this is essentially saying is that anybody with a hot wallet, especially with a hot wallet that is on a computer, not going to say PC, but that could be wrong. But either way, hot wallets, you should be very, very concerned, especially if you have a size of,

amount of Bitcoin on it is what's going to potentially happen is if there is a vulnerability within JavaScript and they could drain it. Well, good luck. It's gone. So it's also mentioned that if you are going to use, which you should, a signing device, like a cold card or seat sign or whatever you think is best for you. Make sure you verify the partially signed Bitcoin transaction on the screen. You need the screen. You got to verify. So you got to look at that and say, yeah, that is the address it's going to be sent to. This is it. Furthermore, I would like to even add, then, if you can, I'm a big fan of this using a separate computer that just has sparrow on it.

It's never online. You only boot it up when you have to do the updates, then you sparrow. Like, try to minimize how you could lose your Bitcoin. This thing up there, it's impacting mostly. It looks like these hot wallets. Not co. Should mention not cove for being synthetic tweet earlier. they don't he doesn't use this um he doesn't use java so he's you know away from this okay yeah but yeah

you're right i totally i totally agree with you dude yeah you know one of the things we've mentioned on the show i don't know a handful of times now look how skinny my arms are oh my god i haven't worked out in two weeks i'm getting my stitches out tomorrow from my knee halfway i what how many stitches did you get uh i'm guessing a handful but you can't see or you didn't no they're all they're taped over i can't see them. So anyway, the, what was I going to say? Right, the wallets. It feels to me, when, like, as we're advancing through epochs of Bitcoin, not just having epochs, but sort of cultural epochs as well, the more I look at these stories about people getting scammed, it's actually old, like, OG bitcoiners who are the ones getting rugged more than new people.

I think that's, I think it's a two-factor issue. One is that the new people don't have that much Bitcoin. But two is that, and also those people use stuff like Shake Pay, Coinbase, whatever, for storage, which so far has been proven to be basically a fortress, though it comes with a cost. But the second thing, I think, is that these guys really were lulled to sleep over the last 10 years about security, about their computer setups. Because 10 years ago, let's face it, was anybody thinking... That you'd need a separate computer for Sparrow? I don't think at that time people were thinking it would be worth 100,000 plus.

And like, and like, you imagine you bought in like $5 and you're like and you know, along the way it went up to 10, 12. Wow, I tripled my money here. He skipped everything all the way to 100K. Yeah. Like, wow. Like, you know, like. But those people have been low to sleep on the security side, I think.

It's a different environment, both from a tech standpoint and from a, you know, and from a honeypot standpoint, the eyes on this stuff, huge. Yeah, exactly. Luke's a great example. I'm going to stand by this. In a different universe, Luke would be absolutely vilified, I believe, by certain people. Because just look at the appearance, the actions. There's a lot of things you're like, you judge a book by its cover for a lot of time, right? And it's like, wow, this is just, this is, this guy is just like, you can, You know, I mean, like, it's, it's just funny that this is, uh, he's, he's on the side of trying to save Bitcoin in a way. And just, it just seems like something, he lost his Bitcoin. Yeah. There's questions if he's cats. I don't know if that's true, but like, you know what I mean?

Like, shit like that. He's just, he's inscribed. He's not doing himself any favors with the, with the present, like the presentation. That's for sure. He's, he's got that pocket calculator or whatever. And have you seen that? Of course, I've seen it. Love it. Love it. Anyways. Okay, let's talk about this new Sats boy thing. We talked about this on the show before, by the way. We'll skip it. Fuck it.

Let's talk about the cycle. We're in a cycle here, and I think it's scam time for this type of cycle because it's California governor, Gavin Newsom. He's watching things unfold, and he wants to be just like Trump, I think, in a way, or maybe he's trolling him. I don't know. And, you know, Trump has released the Melania coin, the Trump coin. And they made money.

Then they have the World Liberty Fies. I don't know what the fuck that shit is. These guys, they are just padding their pocketbooks and their pockets. And they're just using you as exit liquidity. But either way, Gavin Newsom, he wants to join the action. And he's releasing his own mean coin. And I don't know. I guess Grifters can't act in or no.

They have to all act together. We are part of the mania, part of the cycle, I thinking. And he's doing this, he's saying, for a noble cause, Joey. He's doing this out of nobility. And I guess there's no more cause, more noble than actually taking money from people and making yourself rich at the expense of others. The intention of this, he's saying is to troll Trump. And he's even considering using the name the Trump Corruption Coin on this as one of the best names for this asset.

I don't understand what's the purpose. This guy is always in front of a mic now, eh, Gabben Newsom? He's Gabon. Gavin Newsom is his new nickname. I think he was saying this in jest, but I wouldn't put it past this guy. He's imitating Trump on Twitter. He's trying to, you know,

seem more appealing to the people. Meanwhile, his state is a complete dumpster fire. Like, dude, get off of the fucking couch with all these podcasts and fix the problems in your state, okay?

Enough of this guy. Gavin Newsome. Looks like a used car salesman. Handsome guy. Don't get me wrong. I think his wife's pretty hot, too, if I remember correctly, not that that matters,

so it's not a macron situation hey brigitte you know everyone's got their flavor some people like you know a wise man once said some people even like grape gatorade okay and so brigitte she's someone's she's someone's uh you know target love that's all she never tried grape gatorade um i can't say i'll try everything once certain things they don't align to by the way on the topic of boomer pointing out in the chat by the way that California did clean up the hobos

one time when the Chinese president came through the chairman. What is you? I'll be perfectly honest. If the Chinese president is coming to my house, I'll do an extra vacuuming just to take the second lap on the rugs, yeah. Right? I'll do one extra time.

I'll get this staircase attachment out of Fiji Zimpin wants to come for dinner at my place. It's funny. They relocated all the fucking homeless. They made that part of San Francisco look to be decent. Like 1990 San Fran, you know? Full House, San Fran. Yeah, there you go.

When Gary Bond used to do. Yeah. Yeah. The France's government fell again. I'm not sure if you saw. They have the weirdest government, though. It's not Macron that is in trouble. I mean, he might be in trouble. Yeah, yeah. The prime minister fell, not the president. Right. And so it's the fourth time in a year they're going to go through

this. So he's got to pick a new prime minister. So something's happening over there. The IMF is going to have to bill them out. It looks like, right? So much shit is going on. What a disaster that's turning out to be there. You know, that could be the end of the European Union. What do you think the causes?

What is the cause? Of the government falling or the economy? Just general unrest and all this stuff. You know, like what is the, what is the cause? They want power. It's power. And this is, I think people just, I think people are just sick of governments. No, no.

it felt because the ones that are backing the existing government, the left-leading party, which has the majority and the right-leaning party, they each want something else. The right-leaning wants in the election. The left-leaning wants their candidate to be... Installed. ...propped up as...

Yeah. So that's... I got that as a crash course. I could be wrong. I don't know. It sounds plausible. So that's particular... So it's just essentially they want power.

And as a whole, yeah, you're right. The thing is collapsing. because there's so much going on. You see pictures of Paris. Oh, yeah. It's embarrassing. That one guy who walks around certain European countries. I think he does one in Italy.

I think he does one in France too. He's probably around my age, between 35 and 40. And he does these videos where he's walking around European cities, and it's all immigrants. And he's just saying to the camera, like, I'm in France. Where are the French people? I'm in Italy. Where are the Italians? Blah, blah, blah.

and I think a lot of people over there like France has been particularly affected by this they've had it I think I think they've had two terrorist attacks in the last 10 years over there significant obviously increase in immigration and some pretty wild videos of like people trying to abduct kids in front of their homes everyone's seen that video at the point of the of the migrant like trying to kick his foot in the door and steal the woman's daughter while she's waiting for her mom and you know not to mention the sort of European story right now is that the economies over there are failing if you just take broad strokes it's not a good situation Macron though is held on somehow right he's I mean he has had to jail his opponents a few times but

I don't know she's banned from I think Le Pen's daughter's also banned by the way who is also hot bring back hot positions I have to give him credit yeah good for him for like retaining power and it's right most people would capitulate. Not him. He said it's fucking hang on as long as possible. Anyways,

let's talk about more Bitcoin stuff because we're listening to the rest of the stories. We shouldn't do that yet. And this is another part of the cycle. I'm just not exactly sure what the fuck it is because mark October 21st in your calendars because the Federal Reserve are going to be hosting a conference on what they call payment innovations. I can't put those your quotes. Can't do it in the narrow window we put here. The conference will be exploring a emerging topics like stable coins, use cases, and the intersection of artificial intelligence AI is fucking in every discussion these days and payments and the tokenization of financial products and services.

And they say they're going to be bringing together leading industry experts to share perspectives on the evolving landscape. They're all working in the White House already. The entire PayPal mafia is, you know, adjacent to Trump at this point. Teal, Musk, Sacks, you name it. They're all there already. So, what are they going to do? They're going to bring them into the White House.

What do you mean? They're just going to walk across the lawn. They're already on the property. Yeah. But note the timing. This is October 21. So it gives you, Joey, an opportunity to still attend a Canadian Bitcoin conference and then hop on a flight, go to Washington, and then attend this.

Away from my, but I have, is it getting mailed somewhere else? I know we have the business address set to the accountant's office. Is it maybe getting mailed there and I have to go pick it up, my invitation? They do everything by email. Oh, actually, the government now just puts shit on Bitcoin and you get it from that. Yeah, true. I can just get a signed transaction with my valet ticket. They can't get a proper block number to get it.

I don't understand what's the point of this. I'll tell you what the point. Oh, please, inform me. I got a lot to say on this. I'm going to try and draw some lines I don't think people are ready for, but we're going to try. Please draw them. So what I see here is the need. And this is not new. It's not my brainchild, this particular part. What you have here is the need to increase treasury demand. And stable coins in the U.S. will be backed by treasuries. That's the law they're going to make around these things. If they haven't already, I guess the Genius Act probably established that. So you're going to increase the demand for treasuries by making everything a quote unquote stable coin payment. You know, having tokenized equities purchased with stable coins, having people hold stable coins in their bank account, having the Fed hold stable coins, all this stuff, not to mention the overseas.

piece I think though what I'm seeing Bank of Canada or Shake Pay also today talking about a cat stable coin by the way they're launching a no a Canadian dollar stable coin

not that I've seen they're well I gotta look at this tweet right now and double check but it seems to me they're launching a Canadian dollar stable coin I believe there is one isn't it their liquid cat or something it could be wrong there is a Canadian dollar

big news we're teaming up with leading FinTechs and financial institutions to support Tetra Digital Group and building a regulated homegrown Canadian dollar stable coin launching in 26. So it's new. When I look at all this stuff, I think governments, so this is a bit of a stretch, but I'm going to try and put this together and see what you guys think, see what you think, especially since you're my co-host. I think there's a case to be made here that the U.S. wants a piece of the remittances market. and they're going to try and get it through stable coins.

They're going to look, they're looking at places like, I mean, think about the demand just in Canada, for example, by Indian immigrants. Do you know what percentage of Indian GDP comes from remittances? I wouldn't even have a clue. It's almost, you know, 7%. It's almost 5%. It's a huge and growing number. So they actually, when people,

People ask, like, why is there so many Indians everywhere? It's because the Indian government needs remittances to grow the GDP of the country. Okay? They are not alone in that regard. I'm sure African countries are doing the same thing and some other third world nations are considering the strategy if they're not already trying to execute it. So the U.S. is looking at this. Canada's looking at this.

And they're going, how can we benefit? We already know the benefits of having cheap labor, these LMIs and fake asylum seekers, whatever. coming over and working for free, delivering phone cases and tacos and whatever else people are financing for $5.00 and under over for equal payments through Klarna and pay later and all this other nonsense. How else can we benefit? There's billions and billions of dollars, hundreds of billions, if not more, going into just India alone. I think the number I saw was $134 billion in 2024. Huge, like that is a huge number that no one is getting any benefit from except Western Union, right?

So if you start adding all these numbers up, you can build demand for U.S. treasuries. And I see the boomer saying the bond market is involved in this, maybe. But I'm talking about treasuries for now since treasuries is a thing that is going to back this. I think there's a move here from governments to try and make, to try and invent demand, to try and conjure up demand for their debt that no one else wants with these stable coins. And I think you're going to see this pop up more and more and more.

The UK is going to do it or Europe's going to do it or we're going to do it or the states is going to do it. Anywhere where there's a lot of third world immigration, there's going to be an attempt to make this happen. That's one reason. The other reason is that clearly the stable coin is the CBDC. There's no doubt about this. The stable coin is the CBDC. The government needs more tax revenues, and they're having a hard time getting it, to be honest with you. People are sending money around the world.

They're having trouble seeing it with stuff like Bitcoin. It's even more difficult. And collecting tax from the people who you need to collect tax from, the most well-equipped to dodge it, right, legally or otherwise, the rich and the well-capitalized, they're not paying what the government thinks they should be. And so you have to eliminate the loopholes. So you do that with CBDCs, programmable money. I think this is just a matter of necessity for them. The question on the side of, you know, if I was going to, like, drop a white pill here, it's on the side of execution and timeliness.

Like, can they get this done before other stuff takes over? And actually, I think Mark talks about this too from time to time, that there's a question between, there's not a question of methods. There's a question of timelines. We know that this is what governments want. They all want it, and they will all cooperate to get it. But the question is, can they do it before it's too late, I guess, to put it in simple terms? Yeah, it's like kind of in some last legs, right?

Yeah. And how quick can it get it out? Exactly. It feels like we're already close, you know? I have a question, though, with you for this. I have no idea. And you know what? I'm very happy.

I'm unplugged from all this. But the question I have is the CBDC slash stable coin argument. And if you think CBDCs, the stable coin will be the CBDC, who runs that? Are they going to run their own? Are they going to use USDC or Circle or Tether to do their own thing? It's a good question. Shake pay now is the company to ask about that here. But then it's not a CBDC at that point, right?

Because in order to have to be, I mean, I'm just looking at the definition of. Yeah, yeah. Dennis, you're just utilizing somebody else's. So, so, go on. The CBDC thing, I mean, you know, I don't want to put words in your mouth, but it sounds to me like, you know, the question you're like posturing to ask is what good does it do the government to have a quote unquote CBDC that's not issued and controlled by them, right? 100%. So let me, so let me point, so let me point to something that already was attempted, right, between 2020 and 2023. three, four, whenever Elon bought Twitter, the government can't suppress speech.

They're not allowed. They can't say to you, this is against the second amendment, or the first amendment, I should say, like, you have a right to free speech, blah, blah, blah, unless you're calling for violence or whatever, you can say basically whatever you want. You can insult people. You can, you know, make claims about vaccines. You can make claims about the origin of a virus. You can make claims about WBF.

You can put YouTube videos out about this stuff. if you can do whatever you want. Government can't, in the U.S., I'll use the U.S. example, the government can't necessarily suppress that information. They can't say to you, you're not allowed to say that, because you are allowed to say it. What they can do is deputize a company over which they hold some influence to do that for them.

And so Twitter, in a good example, was deputized by the government to make the case to people, or to the government made the case to Twitter that, you know, these tweets and those tweets are breaking your terms of service. And if they're not breaking your terms of service, here's what you should add to your terms of service that we don't have to deal with misinformation, disinformation, you know, racism, whatever, right? Whatever the flavor the day was for speech that was unpopular. So by deputizing these companies, they're able to execute on the mission without looking like the bad guy to the 99% to the normie crowd, right? Well, it wasn't the government that told you you couldn't buy weapons or

meat or whatever with your CBDC. Couldn't buy Bitcoin with your CBDC. It was shake pay. It was Circle. It was Coinbase. This is happening and has happened in the past with Visa and MasterCard during, you know, gun hysteria. Every time there's a shooting in the States, you might remember a few years ago Visa MasterCard said, we're not going to allow people to buy guns and ammo. Okay. That's your right as a company. But the pressure for that, where does the pressure for that? Where does the pressure for come from. It comes from the government. And the deputization of companies that run payment networks that run, you name it, right? Whatever the sort of du jour issue or causes, if they can put their thumb on the scale without actually changing a law or sending police or doing whatever, they'll do it.

That's why the centralization of these things is so dangerous, right? If shake pay is the only Canadian company issuing a stable coin, then they only have to lean on one. If Visa and MasterCard are the only payment rails. They only have to lean on two. If Reddit is the only place to find information about vaccine side effects, they don't have to lean on that, right? Twitter, whatever, Facebook. Easy to do if it's centralized. The thing that makes Bitcoin so dangerous is that it's not centralized. And, you know, when we talked in the past about how corporate miners can be deputized, you know, node runners, corporate node runners can be deputized. Places like liquid, right? If you have a company that routes lightning transactions and people are, people don't want to see.

private transactions, well, the thumb will come down on that scale. And it's not just Canada in the U.S. doing this. You know, where are you seeing this right now? You're seeing it in the UK. The UK is doing this to every company. You have to age verify everybody, which is just a digital ID, basically, you know, putting a name and a face to each username to, to, you know, Bump Monkey 69 is now, you know, John Smith of Birmingham. He's 28. He's saying things online about people we don't like. He's calling Kirstarmar Kier Stalin and he has an Instagram page that we don't like. And they can do, they can, they can deputize companies outside or the trying to deputize

companies outside of the UK. Now, thankfully, the U.S. is fighting back. Preston Byrne and others saying absolutely fucking not. But in Canada, like, we can't fight that. It's difficult. We don't have those enshrined rights, free free speech and whatnot, right? So the deputization of these companies is a thing to be concerned about. And I think that should answer your question.

Like, you know, if they don't, if they don't control. it. What's the point? Well, they do control it, but they're just one degree of separation from the blowback, basically. Interesting point. I don't say I entirely agree. I still think that there's a lot that's going to be given up if you're going to ask somebody else to manage that node, that central node to verify transactions and have stable coin sent from one address to another. And I can't see them having anybody else. It's one thing about information. You can talk about it being on Twitter or Facebook or whatever, but it's still,

it's still kind of fragmented in a way, not only information that comes from one spot, but when you're talking about U.S. dollars, you're talking about the Federal Reserve. And I just don't see them, the people behind it, and the people controlling it, just wanted to give up any sort of, it's so powerful what they, what they're able to do with that. and giving up even a little bit of it is that's why i think that the whole thought of a cbdc that they created that they rolled out seemed to be a reasonable outcome maybe i've always questioned when i don't think it's any time soon but i think by doing that then it gives them and having them have the proof of authority that node gives them just so much more power and keeps that power

I don't know. We'll see. There's no reason it can't be a mix of the two, though. There's no reason it can't be some mix of the two, right? 100%. Yeah. It's still all going to roll up two. Yeah.

In either case, in either case, decisions to censor or blacklist, I think you're right. They roll up. They don't roll down. You know, there's no independent decision making there by corporations or private entities. That's for sure. I agree with that. Remember FTX? Of course.

Yeah. November 2022. The SEC. That was three years. ago almost oh my god time is flying okay that so if you recall 2022 we had blockfi we had Celsius ftx not in this order ftx i think believe was last one but i and the first one first domerl fell was luna so caroluna fell then i don't know flip a coin between blockfi and celsius and then later on in the fall was ftx either way the SEC they're trying to get more information as to what happened

here, right? The FTX debacle and see, you know, let's try to get to the bottom of it so it doesn't happen again. Gary Gansler's phone is a black hole. This is the guy, the chair, used to be the chair of the SEC. His mobile device,

all the text texts in it for a period of time gone because of IT errors and poor insight. Poor oversight. These are the guys, remember, Joey, they can't properly manage a Twitter account.

Remember? The ETF launch. Yeah. So they can't manage a Twitter account. They can't manage cell phones. What happened here, and I'm not fucking shocked, Gensler's phone stopped syncing with the agency system back in July of 2023, and that was due to an error of security measures.

Then all messages from October 2022 to September 2023 were erased because of the security measures. For context, I remember at FTX when tits up November 2020. So just a month before to September of 2023, all those texts are gone. So everything that he was sending. And you know what? These guys, they have, they're controlling the fucking walled garden here. Yeah. This is a absolute travesty. I have no faith in these motherfuck. Do you think it's a legit story? I don't care. I actually, I, yeah, yeah, go If it's legitimate, then it's bad. I think it's not.

I think it's legit. And if it's not and you're using this because they're trying to hide something, it's equally as bad. But yeah, like it does sound plausible, right? Yeah. That's fucked up, man. And right? And so remember when you're, every time everybody wants,

I want to buy this or this equity or that equity. How did it end up getting there because the SEC approved it and all? These are the people that are behind it. And they can't even fucking manage like I say a Twitter account. But they're trying their best land. You know what?

It's not about effort. It's about results. That's what it is. I could go and play on an NBA team and I could play my hardest. You know what? The results are not going to show up on the court. So in reality is

you're going to cut my ass faster than I can find my name on the daughter line. Oh, man. That's a great story. I haven't thought about Gensler at all. It's weird to me that he was so, so public about his thoughts on the Bitcoin ETFs and the Bitcoin price and Bitcoin as an asset when he was the chair of the SEC. And when he was removed, he didn't do, there's no media tour.

He doesn't speak to any, like I haven't seen the Gensler speaking engagement. I never see him at these like, you know, at like deal book or whatever at the Economic Club of New York. Like, I don't see him anywhere. A lot of these guys. They refuse. It's like, you'd do something. Maybe. I don't know.

But it's weird that he's like, because he's public before, right? He was a professor at, uh, MIT or something or? Was it MIT? I was going to say MIT. Okay. But now he's like nowhere. Yeah, boomer. Gary wasn't the villain.

Yes, he fucking was. Yes, he fucking was. He made, you know, whether, whether you're just following orders or not, you know, saying the things he said, he was a, he was a villain in my view. It was the MIT. You're right. Yeah, there you go. All right, fan of the bidaxe.

I think all of us kind of are. I still have mine. People listen to this show bought every bitaxe that DeCentral made with our branding on it. So, I mean, there are some fans listening, that's for sure. And you know what? It's a great lottery ticket. Every 10 minutes on average, you're in the running

for winning 3.25 Bitcoin or 3.1 or whatever. Either way. So if you're a fan of it, there's going to be, there is now a new UI that's available. called the ax well it's one word acts well and this is the alternative to the axos and it integrates into existing bid axes and if you give this a shot if you don't like it you can always revert back to the axos and this doesn't change the functionality of the bitaxe it doesn't make it any better or worse at mining it just is a new skin it's like you're just changing your clothes you can

change the clothes underneath the same thing you're the same person in the end but you know it's an option. If you don't like to Axos for whatever reason, there's an alternative out there. Screenshots are available. It can check with the GitHub. It's the R-U-C-H-U-S. That's the guy that's running it on GIPP. Ruckus. And it's Axwell.

It's named a A-X-E-W-E-L-L. Pretty cool. I like that. Yeah. Bit-X first. Yeah, it looks great. I was going to say Bitax is really friendly to this kind of stuff. Everyone is trying their own different flavors and iterations. and I've seen so many great Bidax posts on Twitter because my Algo thinks that actually it doesn't think I like Bidaxes.

It knows I do. And they're kind of neat. They're a neat gadget. You're not going to get rich off a Bidax unless you hit a solo block. But they are a neat gadget to kind of mess around with and see what, like, what does hash look like, you know, how much hash can you get out of a tabletop miner? It's not like the ones 256 cells, but it's, you know, it's a trinket. a trinket lottery ticket, like you said. It's neat. It's very neat.

What I like about the bidax is that it doesn't cost a lot to buy. It doesn't cost a lot to run. It is quiet. It sips energy. So it gives you an opportunity to try out mining without going into a bigger setup. Yeah. So I still, I like it a lot. But just solo mining is the way to go. If you're going to go in a pool, you're going to get absolutely. I'm with you. stole the money man there are bid axes that won in the past they did think about the last year it was like probably four times a bit axe yeah i would say more but yeah like it's it's i mean it's not great odds it's not great odds i don't like you know right yeah enough that you should do it yeah i'm still gonna fucking run it okay last one story we'll talk about is sure the canadian

government they released a report called the 2025 assessment of money laundering and terrorist financing risks in Canada. That's a mouthful. And it's the same old stuff that's in this report. It talks about digital assets being used to fund stuff like Hamas and Hezbollah. And they say that while Bitcoin has always featured prominently in suspicious transaction reporting, Tether. USDT is now outpacing Bitcoin as the cryptocurrency of choice, specifically for Daish and its affiliates. Surprisingly, they call it Daesh instead of prices.

DISH. So ISIS, if you say ISIS in Arabic, it's Dish. So that's the way it would be. That's like a virtue signal by us, I guess, I have to use the right language. I'm just surprised. I mean, we are naming streets and squares or after languages that never had any written word. So this is not surprising, really. So they say the methods employed are to obscure the flow of the proceeds of crime, including cash smuggling. So they are, they are acknowledging that cash is also part of this whole. fucking equation here. Shocker. There's international electronic

transfers, sorry, electronic transfers, use of nominees, and the establishment of front and shell companies. And I'm wondering if kindly MD could be considered one of the cell companies.

There's a weekly shot at Dave Bailey. We should actually be a fucking, yeah. Who wants to sponsor it? Well, listen, we brought on 266. Anyone wants to sponsor

Lenz's weekly job at Bitcoin Magazine. Reach out. It's cheap. You can do it. It won't be that expensive. So they say that in addition, financial intelligence suggests that individuals or entities suspected of having a significant role in car trafficking are consistently observed owning or frequently transacting with freight transportation or logistic companies, car dealerships, auto park companies, especially ones located in the GTA and Greater Toronto area. Shocker. Shocker. Where don't we told to leave our keys at the front door?

Remember that? I was supposed to comply with whoever comes into my house now, I think, right? That's the advice I've been given. But if we do that, now we're complicit with giving funds to tear it. So, like, now I'm conflicted. Do I not give the key? You get arrested when your car had stolen. I don't know what the fucking do now.

So we saw a car with a VIN related to you going overseas with Tether. When I make comments on that, we're going to bring you down to the station. Sir, just ask you a few questions. So, USDT, I'm just happy to see that Bitcoin is no longer top of the list when it comes to this stuff. Now they're saying that USDT is now taking the mantle of being number one. I love it. I love it. Yeah, good for that, man.

Yeah. Hey, let's good. You know, it's good to have some parody in the league, right? You don't want to have the same guys winning all the time. Let's bring these up and comers to the top, you know?

And you know, do you like that parody stuff in leagues or no? I think that it's okay. But I think from a ratings point of view, everyone likes to cheer against a juggernaut. And so a juggernaut sometimes is good for the league. And also, like, anyone who's played a sport at a high level knows that you have a reserve of available talent that you can only tap under certain circumstances, right?

One of those circumstances is, you know, you're David and you're going up against Goliath. And so those are also important things to consider if you're a friend. league I think you know how many of those kind of games do you want you want to see the upsets and it creates new stars for your league in my opinion that's it for the bitcoin side of things which is perfect because we're about 55 great great transition to the rest of let's transition yeah we'll transition we're going over to uh notable stories we got some bangers here today so sit tight and if anyone breaks into your house between now and then uh just comply tell them you're watching the show and to have

at it and close the door behind you so they don't bother you or interrupt your viewing experience. Yeah, don't leave your keys at the front.