Latest / Simply Bitcoin / Is the US Government Suppressing the Price of Bitcoin? | EP 1055

Transcript

Is the US Government Suppressing the Price of Bitcoin? | EP 1055 · Simply Bitcoin

• 0:02
  It's. All going to zero against
• 0:05
  Bitcoin. It's going up forever.
• 0:15
  You're against Bitcoin, you're against freedom.
• 0:22
  You see the transition to to a Bitcoin standard because I wrote
• 0:27
  a book in which I said that we need a big reset to get a new
• 0:30
  debt free system. Do you agree?
• 0:35
  I don't disagree because that would make sense, but I don't
• 0:39
  agree in the sense that I think that's what we need or has to
• 0:41
  happen. I mean, the coolest thing about
• 0:44
  Bitcoin, Bitcoin I I like the term opt out technology because
• 0:49
  I don't need to convince anyone else.
• 0:50
  That's the other thing about Bitcoin is say hey to my
• 0:52
  buddies, you guys should buy Bitcoin.
• 0:53
  They're like, oh, I'm scared like that sucks and I move on.
• 0:56
  I don't need you to adopt it for me to get benefit from it.
• 0:59
  Exactly right. So Bitcoin's opt out technology
• 1:03
  which makes it peaceful, right? But it's point, point being is
• 1:07
  yeah, point being is free choice.
• 1:08
  So what do I think we need for the world to be on a hard money
• 1:12
  standard? That's a question for the world
• 1:15
  because I'm already on a hard money standard, you know what I
• 1:17
  mean? So like every if Bitcoin goes
• 1:20
  up, you know, roundabouts 100% year, every year, everything in
• 1:22
  my life has been getting cheaper, half off 100% growth
• 1:26
  2X. So everything in my life's been
• 1:28
  getting half off every year for 10 years.
• 1:30
  So I'm on a hard money standard. I live with peace, I live with
• 1:33
  love, I live with truth, I live with self agency and with me.
• 1:37
  And I live with a money that enables me to take benefit from
• 1:41
  all the innovation of humans and all the growth people are
• 1:44
  building AI and shit. So everything in my life gets
• 1:46
  cheaper and cheaper the better human humans innovate.
• 1:49
  So I don't know, you should ask someone who's on a weak money
• 1:51
  standard what it's going to take for them.
• 1:53
  But that's the beautiful thing is like, I don't need the
• 1:54
  government to say we're going back on the gold standard.
• 1:56
  All I do is take out my phone and say I'm done with this shit.
• 2:00
  So you're already living on the Bitcoin standard?
• 2:02
  Opt bitcoins, opt out technology, all it takes is
• 2:05
  yourself. Yeah, welcome to some of the
• 2:07
  Bitcoin live, your number one source for the peaceful Bitcoin
• 2:09
  revolution covering use cultural medical warfare.
• 2:11
  We'll be your guide through the separation of money and state.
• 2:13
  Jack Mahler's dropping the hot fire like always.
• 2:17
  He's uh, describing it. It's opt out technology.
• 2:20
  This is the beautiful part. This is the part that people
• 2:23
  don't quite understand. It's an election year,
• 2:27
  everybody, but the most important vote you could make is
• 2:31
  voting with your wallet by taking self custody of your
• 2:34
  wealth. And you could do that using
• 2:36
  Bitcoin and Bitcoin only. And that's something really
• 2:39
  important to keep in mind because regardless of what's
• 2:42
  happening on the outside world, I always love the meme of like
• 2:46
  the like the Bitcoiners just on his phone at peace and he's like
• 2:50
  on a train or a bus and then the world's on fire outside.
• 2:53
  If your money is in self custody and you control your keys,
• 2:58
  regardless what's happening outside in the crazy government
• 3:02
  policy and the overspending, you know, as Mahler's has said that
• 3:07
  your life get will get progressively cheaper over time.
• 3:12
  Everything around you goes to zero against Bitcoin.
• 3:15
  Shout out Max Keiser. That's his quote.
• 3:17
  So yeah. And I think once the world
• 3:20
  realizes that, I think the world will be a will be a much better
• 3:25
  place, a much more peaceful place, because I think a lot of
• 3:28
  the clon world and a lot of the instability in society is caused
• 3:35
  by broken money. A lot of people can't explain
• 3:39
  why they can't make ends meet. Opti and I were just talking
• 3:42
  about, you know, ordering food and it's it's like 30-40
• 3:47
  dollars. I remember a couple years ago,
• 3:49
  it was like, you know, like $20 or like $15.00.
• 3:52
  You used to order food on like Uber Eats or Grubhub or whatever
• 3:56
  that, you know, whatever application you're using now,
• 3:58
  it's like $4050 for like, you know, just a single meal.
• 4:02
  It's absolutely nuts. And then you have, of course,
• 4:05
  the government gaslighting you and talking about price
• 4:09
  controls. You have some people talking
• 4:11
  about like Elon Musk talking about a government efficiency
• 4:15
  committee. Those are half measures.
• 4:18
  The solution to this is the separation of money and state.
• 4:22
  The solution to inflation is Bitcoin and the reason for that
• 4:28
  is bitcoins absolute scarcity. You can't manipulate and change
• 4:33
  the rules to benefit yourself. Bitcoin is the solution to
• 4:37
  inflation and you don't have to wait for an election or someone
• 4:41
  to win a popularity contest for you to start feeling the
• 4:46
  benefits of transitioning to a hard money standard.
• 4:50
  All you have to do buy Bitcoin, mine Bitcoin, earn Bitcoin, put
• 4:54
  that Bitcoin into self custody and you can start feeling the
• 4:57
  benefits. In my opinion, it takes about
• 5:00
  four years, a full cycle to really start feeling the
• 5:03
  benefits and then it really takes about eight years, I would
• 5:07
  say to get relatively wealthy compared to where you started,
• 5:10
  what your starting point was. The last thing I'll say is
• 5:15
  that's not to say that, you know, the Fiat elections, like I
• 5:19
  like to call them or Fiat politics are not important.
• 5:22
  I think during the transitionary period they are somewhat
• 5:25
  important. Obviously, if you're a Bitcoin
• 5:27
  entrepreneur, you're a Bitcoin business owner, you obviously
• 5:32
  want a good regulatory environment.
• 5:34
  You don't want a negative regulatory environment.
• 5:37
  All that being said, that doesn't mean that if a
• 5:41
  government takes a hostile stance towards Bitcoin and makes
• 5:44
  the life of Bitcoin business owners in that country, doesn't
• 5:47
  mean it's going to stop Bitcoin innovation or Bitcoin.
• 5:51
  It might slow it down in that jurisdiction.
• 5:53
  But really what that government is doing is just hurting
• 5:56
  themselves and more importantly, hurting their citizens, right?
• 5:59
  But also, if you take self custody, you can vote to your,
• 6:02
  we can vote with your feet and move to El Salvador, right?
• 6:06
  That's the awesome, beautiful thing about Bitcoin, especially
• 6:10
  if you learn about self custody, Think the next step after that
• 6:13
  is running your own node. I think the next step after that
• 6:16
  is running a bid axe because I think that's really bad ass.
• 6:19
  Anyways, I do want to bring up my Co host, Optimus fields, our
• 6:22
  guest for today, who was recommended by the supreme
• 6:27
  leader of simply bitcoins telegram, the supreme overlord,
• 6:31
  the supreme overlord Darth Darth coin.
• 6:36
  We have bit carrot in the house. Bit carrot.
• 6:38
  Thank you so much for joining us.
• 6:40
  Hey, hey, great to be here. Great to have you, Opti.
• 6:44
  What are you going to talk about on the culture on this Friday?
• 6:48
  Before we go into culture, I, I do want to mention or I'd rather
• 6:51
  comment on a few things that Jack Muller said.
• 6:54
  The first one, which is like the funniest thing.
• 6:56
  It, it's like so funny when you get into Bitcoin, you kind of go
• 6:59
  through these stages of like, once you understand Bitcoin, it
• 7:02
  clicks. You're like a Bitcoin evangelist
• 7:04
  and you're, you're telling everyone and it literally anyone
• 7:08
  at every moment of every day about Bitcoin.
• 7:10
  And then after a while you're kind of just like, I'm burnt out
• 7:13
  about people calling me dumb. Like I don't even tell my
• 7:16
  friends anymore about it. So I think this kind of like a,
• 7:19
  a general trend you see with Bitcoiners.
• 7:21
  After a certain while, it's like, look, it's very obvious
• 7:23
  the benefits of Bitcoin in my life.
• 7:25
  I don't have to force you to get to Bitcoin.
• 7:27
  Obviously, it it's freedom of choice and you can opt into it
• 7:30
  whenever you want to and it'll be there when you need it.
• 7:33
  And then the second part I, I do, I may disagree a little bit
• 7:38
  with Jack on that, where he was saying like, I don't care if
• 7:41
  anyone adopts Bitcoin because like, yes, on a personal level,
• 7:45
  I've already adopted a Bitcoin standard and it's like my life
• 7:48
  has improved. And I, I try to share this with
• 7:50
  anyone possible and anyone that'll listen.
• 7:52
  And when you see people having these problems, you try to share
• 7:55
  it. But like the, the name of the
• 7:56
  game is we want as many people holding Bitcoin.
• 7:59
  So like, I, I know what he was saying, but yeah, I think I
• 8:03
  think it is important for us to try to get more people to hold
• 8:05
  it, but we're just like burnt out and tired anyways.
• 8:07
  Anyways, in the culture with Bit Carrot, first of all, shouts out
• 8:10
  to the supreme overlord of our telegram, Darth Coyne.
• 8:13
  Because today, you know, he basically forced Bit Carrot to
• 8:16
  come on the show today and we're gonna be talking about open
• 8:20
  source development, about Noster, the state of lightning
• 8:23
  and circular economy. So I know these are a lot of
• 8:25
  topics that our die hard audience likes to talk about.
• 8:28
  So hopefully we expose most more people to to these topics and
• 8:32
  the importance of kind of like getting involved in the
• 8:34
  importance of developers out there and, and what's actually
• 8:37
  going on behind the scenes or, you know, under behind the code
• 8:42
  of Bitcoin and and the work that's done by people like bit
• 8:45
  carrot. So I, I think it's going to be a
• 8:47
  great conversation. Oh, for sure, for sure.
• 8:50
  Also to address the topic of today's video, the title, I do
• 8:55
  want to mention, look, we have been crabbing for a while now
• 8:59
  and I think a lot of people get bored when things crab.
• 9:03
  And I kind of want to talk about as to what could be some of the
• 9:07
  reasons that we are crabbing. One of the things that happened
• 9:12
  once Donald Trump said that he was going to make if he was
• 9:16
  going to get elected into office, essentially make Bitcoin
• 9:19
  a reserve asset in the United States.
• 9:21
  But one of the things that immediately happened that same
• 9:24
  that like the Monday after the conference was the treasury was
• 9:29
  moving Bitcoin. Apparently they sent another
• 9:32
  10,000 or so Bitcoin back to Coinbase.
• 9:36
  Of course, why are you going to send Bitcoin to Coinbase?
• 9:38
  I think they they're trying to sell it.
• 9:41
  So we're going to talk about all the different things that have
• 9:43
  happened that have potentially been suppressing the price.
• 9:47
  Also, we're also going to talk about as well as the last cycle.
• 9:53
  I think one of the reasons this is my theory it's unpopular in
• 9:56
  some circles is I truly believe that when the CCP banned Bitcoin
• 10:01
  mining, I think that it was an attack on price.
• 10:05
  All those miners were forced to sell some of their Bitcoin in
• 10:08
  order to relocate to favorable jurisdictions.
• 10:11
  Hash rate dropped by like 50%. It looks like it took down the
• 10:16
  price with it. So yeah, I mean, we're going to
• 10:19
  talk about that and the reason that, you know, it's beneficial
• 10:23
  potentially to some nation states to attack the price
• 10:27
  because at the end, fundamentally number go up is
• 10:30
  the biggest orange pillar in the world.
• 10:33
  As the price goes up, it's, you know, it creates that incentive.
• 10:36
  People look at Bitcoin and they're like, oh, wow, I
• 10:39
  probably should get some just in case it catches on.
• 10:43
  Nihilus feels in the chat chat says suppress me Hardy harder,
• 10:47
  daddy government. You know what the awesome part
• 10:50
  about all of this though, is? And there is a silver lining is
• 10:53
  that like you could only do it for so long and and then you
• 10:57
  eventually run out of Bitcoin and you just can't print more
• 11:00
  Bitcoin right. So you can only really shoot
• 11:03
  that that bullet once. The German government could
• 11:06
  could have only sold that that Bitcoin once.
• 11:09
  That's it. They're never going to be able
• 11:11
  to accumulate that amount ever again without pushing the price
• 11:15
  higher. So you can only do that once.
• 11:17
  China could only ban Bitcoin once, right?
• 11:20
  Buying Bitcoin mining ones. Anyways guys, before we jump
• 11:23
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  today all right everybody let's get to the numbers lots to talk
• 12:28
  about let's check it out here we go the Bitcoin numbers all right
• 12:37
  ladies and gentlemen, you do want to store your generational
• 12:42
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• 12:44
  wallet, it comes with a little piece of paper and it gives you
• 12:48
  an opportunity to write down your seed words right you, your
• 12:52
  seed words are your Bitcoin. It's either 12 to 24 words.
• 12:57
  Thing is, paper is prone to water damage, fire damage to be
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  eaten by your dog. It's not a great way to store
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  If your dog tries to eat, it will literally break its teeth,
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  so it probably won't. To do that, you want to store
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• 13:47
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• 13:50
  don't think they'll like you very much.
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  If you lost your Bitcoin and your explanation is I didn't get
• 13:55
  a stamp seed, I wrote down my seed phrase on paper.
• 13:58
  At the time of recording, the Bitcoin price is 58,310 sats per
• 14:02
  dollar 1715 block height 857,054 blocks to having 192,946 having
• 14:12
  estimate March 26, 2028 Total lightning network capacity 4822
• 14:17
  BTC capacity value 281,000,000 Realize monetary inflation 1.44%
• 14:24
  market capitalization 1.15 of trillion Bitcoin verse gold
• 14:29
  market cap 6.74%. In the grand scheme of things,
• 14:34
  we are just getting started. I love the fact that bit Carrot
• 14:38
  is here today because we're going to play a FUD video for
• 14:42
  you Bit Carrot and I want to get your your thoughts on this as
• 14:46
  someone who is involved in in just the development of Bitcoin.
• 14:50
  We have a little bit of FUD. Here's our boy Checkmatey, love
• 14:53
  his work. Going to follow him back also
• 14:56
  from the simply account. And he says, Can you believe
• 14:59
  critics are barking about the seven TX metric?
• 15:03
  The base layer does not compete with Visa and MasterCard,
• 15:06
  fellas. It competes with central banks
• 15:09
  and base money. Bitcoin needs better critics.
• 15:12
  That's absolutely right. This is what scaling Bitcoin is,
• 15:15
  what the second and third layer solutions are going to be all
• 15:18
  about. But anyways, let's take a listen
• 15:20
  at to this FUD and I want to get Bit Carrot's opinion on this.
• 15:23
  Let's check it out. All right.
• 15:25
  So Bitcoin burns 2% of the world's electricity or so to be
• 15:31
  able to process somewhere between.
• 15:33
  Three to seven transactions per second across the entire world.
• 15:40
  That's it. It's not many, it's not many and
• 15:46
  worse, it never could work for payments.
• 15:49
  So if we've seen come and go waves of companies say we'll
• 15:57
  accept payment in Bitcoin, they're lying because they
• 16:02
  aren't actually accepting payment in Bitcoin.
• 16:05
  They are using a service that allows them to price in dollars
• 16:10
  presents Bitcoin to the customer.
• 16:13
  Transfers the Bitcoin, turns it into dollars and so the
• 16:17
  merchants is getting actual money, so Bitcoin.
• 16:22
  So I'm going to address first before I pass it on to Bit
• 16:24
  Carrot. The the part in the beginning,
• 16:28
  Bitcoin burns 2% of the world's electricity.
• 16:31
  OK, first of all, right, it's not burning electricity #1 and
• 16:37
  #2 Bitcoin uses excess energy. If it's not excess energy, it's
• 16:43
  not cheap. If it's not cheap, it's not
• 16:45
  economic for miners to use it right now.
• 16:48
  By the way, I RIP to all the miners right now because it's
• 16:52
  not good to be a miner right now after the having the prices gone
• 16:56
  down. Not good.
• 16:57
  Stay strong, boys and girls. So what I got to say is no, it
• 17:02
  doesn't burn the world's electricity.
• 17:03
  And also this kind of misconception, right?
• 17:07
  When you produce an electricity, when you make electricity, if
• 17:11
  you transport it over a long distances, it loses its
• 17:15
  efficiency. If you have an iPhone or an
• 17:18
  Android, whatever, you have an electronic device that has a
• 17:21
  battery, leave it on the night stand.
• 17:24
  And I promise you the night, the the next day, if it was charged
• 17:27
  to 100%, it will maybe be at 99. And if you leave it there for a
• 17:31
  month on your night stand without charging it, it will
• 17:34
  probably lose like 50, sixty, 70% of its charge.
• 17:39
  So if you can't store electricity, electricity
• 17:42
  efficiently without losing efficiency, and if you can't
• 17:47
  transport it over long distances, you have to use it on
• 17:51
  the spot, right? So then this creates situations
• 17:54
  where you have isolated energy pockets all around the world
• 17:58
  where they built out tremendous amount of electrical, electrical
• 18:03
  capability, but they don't have enough people to use it.
• 18:07
  This is why Bitcoin miners go to places.
• 18:10
  They, they, they, you know, they scour the earth to find places
• 18:14
  where there's excess electrical capacity.
• 18:17
  This is why you have so many Bitcoin miners focusing on like,
• 18:21
  for example, the Kingdom of Bhutan, right?
• 18:23
  This very small country has a tremendous amount of
• 18:26
  hydroelectric capability. There's not enough people for
• 18:30
  it. So they have an option.
• 18:32
  They sell it to a neighboring country or they see Bitcoin
• 18:35
  miners in the sense of Bitcoin miners.
• 18:36
  Oh, wait, no, these guys will pay us more for the for the
• 18:39
  electricity. So this misconception that
• 18:42
  somehow Bitcoin is like burning electricity and using
• 18:46
  electricity that was somehow meant to go to a house and now
• 18:51
  it's bringing the prices up. That doesn't make sense because
• 18:54
  you can't set up a Bitcoin mining facility in the middle of
• 18:57
  Manhattan. You will literally go out of
• 18:59
  business. It's too expensive for you so
• 19:01
  you have to go to remote areas where you're on the hunt for
• 19:06
  electricity that was already going to waste, so wanted to
• 19:09
  clear that up. I'm going to pass it on to Bit
• 19:11
  Carrot in regards to all the other things in regards to
• 19:15
  Bitcoin not being able to scale. Yeah, sure.
• 19:19
  I'm happy to talk about that. So, you know, there's layer 2
• 19:22
  Lightning which can process millions of transactions and
• 19:26
  currently is. And I actually want to bring up
• 19:29
  a project that I've recently launched, which is to help
• 19:33
  people facilitate all these things.
• 19:35
  And it's called hivetalkhivetalk.org.
• 19:37
  Effectively, it is a zoom for Bitcoiners.
• 19:40
  So instead of using mainstream big tech zoom, you can use our
• 19:45
  Hivetalk server where effectively you can log in with
• 19:47
  Noster. You can also ZAP each other with
• 19:50
  lightning. So if we want to put that
• 19:52
  argument to rest about how you can't actually transfer payments
• 19:56
  at scale very quickly, you can certainly do it on our our
• 19:59
  platform or anywhere on Noster people on.
• 20:01
  Are zapping each other on lightning everyday
• 20:05
  microtransactions at the speed of light and all over the world.
• 20:09
  In fact, you know, the people, the people in Australia and
• 20:12
  South Africa right now who are just zapping each other's stats
• 20:15
  and you know to say that this actually doesn't transact at
• 20:18
  only three to seven transaction that's a complete like that.
• 20:22
  That's that's false. It's totally false.
• 20:24
  So on on layer two definitely is there.
• 20:28
  And the other thing is that, you know, I think that Bitcoin is
• 20:32
  not just about new money. It's also about a new world.
• 20:36
  So if we look at what's happening actually on Noster,
• 20:39
  and I know maybe not everyone here is on Noster, it's a step
• 20:42
  away from the existing big tech paradigm where you can't
• 20:44
  actually say what you want to think.
• 20:46
  You can. You have more freedom of speech
• 20:48
  over there. And you know, like right now
• 20:50
  we're on YouTube. We sort of have to watch what
• 20:51
  we're saying, but I'm not sure if you want to say something,
• 20:55
  you can say it. If you don't want to hear what
• 20:56
  someone else says, you can mute them.
• 20:58
  You can have your own relay so you can put your information on
• 21:01
  your own, you know, in your own storage.
• 21:03
  If you don't want to share with other people or if you want to,
• 21:05
  you know, share with other people, that can't really stop
• 21:07
  you, you know, and that's the beauty of it.
• 21:09
  And as, you know, this ecosystem grows, you know, it's growing in
• 21:15
  itself, this beautiful circular economy to sustain people who
• 21:18
  are actually building on it. And also we're building out the
• 21:22
  parts of the Internet in a, in a Bitcoin fashion.
• 21:26
  So it's more decentralized. You're not siloed to things
• 21:30
  like, you know, Zoom or eBay or X, like Twitter or Facebook.
• 21:35
  But all these apps are having a new life on Nostril and
• 21:40
  Lightning. Beautiful, beautiful.
• 21:44
  Let me ask you something and and we are huge fans of nostril.
• 21:47
  I regularly use nostril all the time.
• 21:50
  Primal app is amazing. If you want to follow me, go to
• 21:53
  prabal.net/nico. Everything I post on Twitter, I
• 21:57
  post on Noster. And I also put a lot of, you
• 22:01
  know, Noster feels like when I go on Twitter and I start
• 22:05
  scrolling on Twitter, I get angry.
• 22:07
  When I start scrolling on Noster, I'm just like, oh, this
• 22:11
  is cool. So one big happy family because
• 22:14
  you're not being manipulated by the algorithm, right?
• 22:17
  Exactly. That's one of the beautiful
• 22:20
  things about Noster. And I definitely recommend you
• 22:23
  to create an account and just kind of explore there.
• 22:26
  Now it is a little bit, I'll be honest with you, a little bit of
• 22:29
  a Bitcoin echo chamber at the moment, but it's gonna continue
• 22:32
  to grow over time. And it's a fascinating protocol.
• 22:37
  I, I'll be honest with you now I kind of want to focus a little
• 22:40
  bit back on the scaling aspect of it, Big Carrot.
• 22:43
  And obviously you have a unique perspective.
• 22:45
  What, what would you say to people that I personally am a
• 22:49
  huge fan of Lightning. It's come a long way.
• 22:53
  This might be unpopular with some Bitcoiners.
• 22:56
  I'm a convenience maxi when it comes to my everyday lightning
• 23:00
  transactions. So I will use, you know,
• 23:03
  custodial lightning wallets. Right now my daily driver is get
• 23:08
  Albie. The primal lightning wallet is
• 23:10
  great. The strike wallet is great.
• 23:13
  Phoenix was was was was pretty good Wallet of Satoshi I think
• 23:16
  is the best to onboard people with.
• 23:19
  I don't have the patience to really balance channels and all
• 23:22
  of that stuff. But do you see that as, as
• 23:26
  obviously, you know, custodial lightning is not ideal?
• 23:31
  Do you see a world where Bitcoin scales using the lightning
• 23:35
  network? Where we can reach a point where
• 23:38
  you know it's self custodial lightning wallets being used?
• 23:43
  Yeah, of course, I think that's something as as the tech
• 23:46
  matures, it'll be easier and easier for the average consumer
• 23:49
  because right now you have to be fairly technical to a certain
• 23:52
  degree to run your own node and run your own Lightning node.
• 23:56
  But I think there's been a lot of progress made in the last
• 23:58
  four years. You know, one of the products
• 24:01
  that's come out recently is Alby Hub.
• 24:03
  So Alby Hub basically allows you to hold your own keys, but they
• 24:07
  will do the infrastructure in the cloud for you.
• 24:09
  It's similar to voltage. I don't know if you guys are
• 24:11
  familiar with voltage. So you know, these are both
• 24:14
  steps in the right direction, but it takes engineering time
• 24:17
  and it takes a lot of effort to get there.
• 24:19
  It's not like it's going to happen overnight.
• 24:21
  I think like custodial is like a mid step in between for in terms
• 24:25
  of not just convenience but also cost because like if you're not
• 24:28
  pushing the volume that you want to do, it may not be cost
• 24:31
  effective. Yeah.
• 24:33
  So, but I mean, that being said, you know, people are also
• 24:37
  teaching each other how to use it because there's a learning
• 24:39
  curve how to understand how to use lightning.
• 24:41
  And that's also a step. So you have to onboard people
• 24:43
  slowly. For example, one of the things
• 24:46
  that we've been trying to push forward with, you know,
• 24:48
  educational initiatives is that on hivetalk.org, there are
• 24:53
  various Bitcoin nonprofit groups such as the Orange Sun and the
• 24:58
  School of Bitcoin Australia, who are actively using the high talk
• 25:02
  platform to teach people how to use lightning, how to use
• 25:05
  nostril. And so that kind of onboarding
• 25:08
  is what we're trying to facilitate to help people
• 25:11
  understand how to use it better. And after they've gotten past
• 25:14
  that first step, then they can go to something that's a little
• 25:16
  bit more self sovereign, but you know, you still have to put on
• 25:19
  your training wheels before you actually get there.
• 25:22
  A. 100 percent, 100% and and I right now at this point, I
• 25:28
  encourage people, first step is obviously self custody.
• 25:32
  Self custody was not easy in the early days of Bitcoin.
• 25:36
  Of course not. Yeah.
• 25:37
  So it's come a long way. Self custody with cold storage
• 25:40
  was not easy. It's come a tremendously long
• 25:43
  way. And what I will say is that even
• 25:46
  notes have come a long way. There's very good plug and play
• 25:50
  solutions. Obviously, I personally run a
• 25:52
  Start 9, but highly recommend it.
• 25:55
  It's phenomenal. Matt and the Start Nine team do
• 25:58
  an incredible job. You could use the promo code in
• 26:00
  the video description, you guys, to get a discount on there.
• 26:03
  I think it's like 9%. But yeah, run your own node.
• 26:06
  There's plug and play solutions at the moment.
• 26:09
  They're open source solutions as well.
• 26:12
  And then, you know, if if you have the time, it's not that I
• 26:15
  don't have the technical know how to set up my own lightning
• 26:17
  wall as I just like I don't have like that's where I'm like, OK,
• 26:21
  convenience. Time is time is a thing, right?
• 26:24
  Cuz like there was a, someone had posted how much time
• 26:27
  enterprise devs actually have to maintain notes and it's on order
• 26:32
  of several 100 hours a year. You know, So like, if you're a
• 26:35
  pleb, you're like, I'm a Bitcoiner, but I don't have like
• 26:38
  a couple 100 hours a year. That's a completely
• 26:42
  understandable, you know, like, even if you knew how to, it's
• 26:45
  like we have so many other things we have to do every
• 26:47
  single day. So, you know, if it's a small
• 26:49
  amount, I understand you just want to have the little bit of
• 26:51
  convenience so you can use it for spending, for zapping
• 26:54
  people, you know, and that kind of stuff.
• 26:56
  But definitely like, you know, I encourage you, if you have the
• 26:59
  spare time, learn, but you can also get other people to share
• 27:01
  and show you how to learn because that's actually faster
• 27:04
  is like if you have friends to get together and show you how to
• 27:06
  do that. And you know, I think that
• 27:09
  that's the beauty of of social networks like Noster in that
• 27:13
  they allow people to ask each others these questions where it
• 27:16
  might be very difficult in some other form where you don't have
• 27:19
  a lot of bitcoiners in a certain space.
• 27:21
  For sure, absolute 100 percent, 100% agree with that.
• 27:24
  All right, everybody, let's get to news.
• 27:26
  We're going to talk about is the US government suppressing the
• 27:29
  price of Bitcoin? Let's check it out.
• 27:31
  Here we go, the Daily News. I want to give a shout out to
• 27:39
  our sponsor Foundation Devices. It's self custody done right.
• 27:43
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• 27:47
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• 28:29
  Check out the Passport link link in the show notes below to learn
• 28:32
  more. All right, ladies and gentlemen,
• 28:35
  scan the QR code on your screen. It'll take you directly to the
• 28:38
  Foundation Devices website where you can get yourself a Passport
• 28:43
  wallet. It's a completely open source
• 28:45
  Bitcoin hardware wallet. You want to take cold storage of
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  your Bitcoin Use promo code simply to get yourself a
• 28:52
  discount to a passport by Foundation Devices hardware
• 28:56
  wallet. So I want to talk about this.
• 28:58
  The feature that orange pills the most amount of people is
• 29:01
  number go up. That is the reality.
• 29:04
  Some people might not like that. Some people are like, no, I'm
• 29:07
  idealistic, you know, I'm here for the revolution.
• 29:10
  I'm here for the revolution too. But I would say the vast
• 29:13
  majority of you guys came for the wealth, you came for the
• 29:16
  richest. That's the reality.
• 29:17
  Most people are like that. Not everyone's like that, but
• 29:20
  most people are like that number go up is what convinces people
• 29:25
  what what initially attracts people to Bitcoin.
• 29:28
  Without number go up, you know, you're not going to be able to
• 29:32
  convince people like that's kind of like the reality.
• 29:34
  The reality is that Bitcoin has to go up.
• 29:36
  I kind of see Bitcoin successes binary it like if it doesn't go
• 29:41
  up, it dies. That's my opinion and the way
• 29:44
  that it's structured, absolute scarcity.
• 29:47
  It's literally designed to go up forever.
• 29:49
  Laura, that's the way I see it. That's what Mahler's was talking
• 29:54
  about in the beginning when he said I am on a hard money
• 29:57
  standard. Everything gets cheaper against
• 30:00
  Bitcoin 100%. In fact, that's the way that the
• 30:04
  world should work because efficiencies and productivity
• 30:08
  and efficiencies and technology should make the world cheaper
• 30:13
  over time. But it's actually government
• 30:16
  manipulation of money that is making the world artificially
• 30:20
  more expensive. Bitcoin is the only unit of
• 30:23
  account that properly what's the word that properly can't think
• 30:31
  of? The word that properly allows
• 30:35
  you to feel the benefits of humanity becoming more efficient
• 30:42
  and productivity increasing. There we go.
• 30:45
  Came up with it anyways, attack on number go up is an attack on
• 30:51
  the rate of adoption. So there was some leaks that
• 30:55
  were coming out of the European Union.
• 30:57
  I mean some European Union bureaucrats that were
• 31:01
  essentially talking about like they were when the leak came out
• 31:05
  in the in the documentation, it basically said we have to do
• 31:08
  something about the price. Why are they talking about that?
• 31:11
  Well, if you compare Fiat to Bitcoin, the reason that Bitcoin
• 31:16
  wins every single time is because Bitcoin tends to go up
• 31:19
  and to the right and Fiat goes down and to the right forever.
• 31:24
  Central bankers will say Bitcoins too volatile.
• 31:27
  What they'll leave out of that argument is that the volatility
• 31:32
  goes up. What they leave out of the
• 31:35
  argument when it comes to Fiat is like, yeah, maybe the Fiat of
• 31:39
  of, you know, of the of the wealthier countries like the
• 31:43
  European Union, Switzerland, the United States, maybe the
• 31:47
  volatility to the to, you know, going down is a little bit not
• 31:51
  so crazy the day-to-day volatility, but it's still
• 31:55
  losing purchasing power over time, right?
• 31:58
  So anyways, the reason I'm saying all of this is we have
• 32:01
  been crabbing for quite a while. I think a lot of people had a
• 32:05
  lot of expectations that Bitcoin would be a lot higher than it is
• 32:08
  today. And I just want to say I noticed
• 32:12
  some things over time. So first thing that I want to
• 32:15
  talk about is Trump announced plans for the US Bitcoin
• 32:20
  strategic reserve that same Monday.
• 32:22
  So Trump made that announcement on Saturday at the Bitcoin
• 32:25
  conference on Monday, the known reserves of Bitcoin held by the
• 32:31
  Treasury, they moved to another wallet.
• 32:34
  And it was just announced yesterday that the US
• 32:36
  government, US government's $590 million Silk Road Bitcoin
• 32:43
  transfer to Coinbase unlikely to be unlikely to be sold.
• 32:48
  The government could be could also be looking to custody or
• 32:51
  trade the Bitcoin based on a recent partnership with Coinbase
• 32:55
  Prime. So, I mean, yeah, take that as
• 32:59
  you may. I don't know about that.
• 33:02
  Here's a tweet by David Bailey, CEO of BTC Inc Mt Gox done, GBTC
• 33:09
  done Genesis done Celsius done Block Fi done Germany done USA
• 33:14
  in process. If these positions hadn't
• 33:17
  liquidated this year, we'd already be pushing 100K.
• 33:21
  Now I know what a lot of you guys are saying Nico, what are
• 33:24
  you talking about? You know this never happened
• 33:26
  before. Why would governments attack the
• 33:28
  price? I mean, this has happened
• 33:29
  before. This is the example that I
• 33:31
  always like to pip point out. I think that there is two major
• 33:35
  stress tests in Bitcoin's history.
• 33:37
  The first one was the fork wars and we all know how that ended
• 33:42
  up. And then the second one was when
• 33:45
  I believe China banned Bitcoin mining.
• 33:48
  The vast majority of the hash rate was located in China and
• 33:52
  when the CCP banned Bitcoin mining, the hash rate literally
• 33:55
  dropped by 50%. Now, the reason that I call that
• 33:59
  a stress test is without any central authority, just
• 34:05
  bitcoins, mere incentives alone. The hash rate recovered by
• 34:10
  itself because people all were pursuing profit.
• 34:15
  But take a look at this chart for audio listeners.
• 34:18
  I'll try to describe it as the best I can.
• 34:20
  Here's the last Bitcoin cycle peak of 2021 where we peaked out
• 34:25
  at 65 K. What was interesting about that
• 34:28
  peak is unlike previous Bitcoin all time highs, it kind of did
• 34:32
  like this double peak. But what was happening to the
• 34:35
  hash rate in the background was fascinating.
• 34:37
  The first peak when we hit 60,400 and 6667 dollars.
• 34:43
  What happened around that time is the hash rate dropped.
• 34:47
  You guys will see this on the video.
• 34:49
  It's the blue line. The black line is the price.
• 34:52
  The hash rate dropped 50%. Chuck Mady disagrees with me,
• 34:57
  but I believe that this is a big reason as to why the price
• 35:02
  dropped the way it did, and I would make the case that this is
• 35:05
  a major reason as to why Bitcoin did not hit 100K loss cycle.
• 35:11
  As the hash rate recovered, so did the price and then the kind
• 35:14
  of the cycle repeat started repeating itself.
• 35:18
  Anyways, I don't think it's a coincidence in my opinion that
• 35:23
  the CCP remember what I told you guys about the feature that
• 35:28
  orange pills the most people is number go up.
• 35:31
  I don't think it's a coincidence that the CCP banned Bitcoin
• 35:35
  mining, therefore slowing down Bitcoin adoption because those
• 35:41
  miners had to sell like a huge portion of their stack,
• 35:44
  therefore putting downward cell pressure.
• 35:46
  I don't think that the CCP banned Bitcoin mining when it
• 35:50
  did, which was in the middle of the last blow off top.
• 35:54
  I don't think that they did that on.
• 35:56
  I don't think that they didn't do that on purpose when they did
• 35:59
  it. I think that they are trying to
• 36:01
  take momentum out of the market now.
• 36:04
  It's interesting to me, right, that we're, you know, some
• 36:07
  people could make the case that we're mid cycle right now.
• 36:11
  I don't think it's a coincidence that the German government, that
• 36:14
  the US government are selling Bitcoin.
• 36:17
  Could they potentially be suppressing the price of
• 36:19
  Bitcoin? If you suppress the price of
• 36:21
  Bitcoin means less adoption means less number go up.
• 36:24
  Could it be? Maybe so, but I will say this.
• 36:28
  What happened during the fork wars was that Jihan Wu and
• 36:32
  Rodger VIR had a tremendous amount of Bitcoin, and they were
• 36:36
  able to artificially make it seem like there was a great deal
• 36:40
  of demand for Bitcoin Cash, and they were able to make it seem
• 36:44
  also that the Bitcoin Cash hash rate was organically overtaking
• 36:51
  the Bitcoin hash rate. Now we know after the fact that
• 36:56
  they did that artificially. It was not real, but that cost
• 37:01
  them something. What did it cost them?
• 37:03
  It cost them Bitcoin. the US government, the German
• 37:07
  government, in fact, anyone who's trying to suppress the
• 37:11
  price of Bitcoin could only do that for so long because
• 37:15
  eventually you run out of Bitcoin.
• 37:17
  And when you run out of Bitcoin, you could just can't print more
• 37:21
  of it to sell more of that Bitcoin, right?
• 37:23
  So it's kind of like you have one, you have one shot and once
• 37:28
  you shoot that shot, you're stuck with less Bitcoin and it's
• 37:31
  going to cost you a whole lot more to build up the stack that
• 37:34
  you once had. So anyways, that's the good
• 37:37
  news. Now, another thing that I
• 37:39
  noticed as well, here's flying Raven and flying Raven has been
• 37:44
  essentially showing the Mount G ox Trustee wallet Bitcoin
• 37:49
  balance. As you can see, starting from
• 37:51
  July 1st, the amount of Bitcoin has decreased from 141,000
• 37:56
  Bitcoin and today, August 15th, it's down to 32,371 Bitcoin.
• 38:04
  I mean, even if you can make the case the majority of those
• 38:09
  people were not selling Bitcoin whatsoever, but let's just say
• 38:13
  20% or 30% of those people were selling the Bitcoin for whatever
• 38:17
  reason. That is a tremendous amount of
• 38:19
  cell pressure. So I think David Bailey's
• 38:21
  observation here and his tweet did really well.
• 38:24
  One 1800 likes. I think it's absolutely spot on.
• 38:29
  I think that there's a tremendous amount, there's a,
• 38:31
  there's a large amount of entities that hold a tremendous
• 38:33
  amount of Bitcoin that have been selling Bitcoin and I think
• 38:37
  that's what's been causing the cell pressure.
• 38:39
  Now, of course, this is all kind of price speculation, but I know
• 38:42
  that this is a topic that a lot of people are thinking about and
• 38:45
  a lot of people have questions about now, where are we in
• 38:48
  regards to bitcoins ROI compared to previous cycles?
• 38:54
  Believe it or not, we're actually like right at where the
• 38:58
  previous cycles are. Shout out to Benjamin Cohen and
• 39:02
  his channel into the Cryptoverse.
• 39:03
  This is where I got this from, but this chart essentially shows
• 39:08
  market cycle two. So the first like 2013 cycle,
• 39:12
  market cycle. The orange line is the 2017
• 39:16
  cycle, and then the green line is the 2021 cycle.
• 39:20
  The pink line is today's cycle. So it's the 2024-2025 cycle, if
• 39:27
  you can see, we're basically exactly where we should be in
• 39:30
  terms of ROI as it relates to the 2017 cycle and the 2021
• 39:36
  cycle. So even with all this downward
• 39:39
  cell pressure even and I think the ETFs, the approval of the
• 39:43
  ETFs really like got us ahead. And I think a lot of people were
• 39:47
  excited and I think that's the reason that we broke an all time
• 39:50
  high before the halving or after, shortly after.
• 39:54
  I think it was before the halving, but I think that was
• 39:57
  done artificially by the ETFs. But in the grand scheme of
• 40:01
  things, like if you look at history, we're exactly, you
• 40:05
  know, in line with the previous cycles.
• 40:08
  So good news is eventually, you know, all these institutions
• 40:12
  that are potentially hostile towards Bitcoin, they don't want
• 40:14
  a Bitcoin adoption. They're going to run out of
• 40:18
  Bitcoin to sell. Maybe they are suppressing the
• 40:20
  price, it doesn't matter, they're going to run out of it.
• 40:23
  And honestly that gives you an opportunity to chat to stack
• 40:27
  sweet sweets and sochis. Now.
• 40:29
  I wish I knew this back in February because then I would
• 40:32
  have just waited for the dip rather than buying at 65 to 70
• 40:36
  K. But you know, they don't call
• 40:39
  it, you know, earning your stripes for for no reason.
• 40:42
  My opinion, the best strategy ever has been just dollar cost
• 40:46
  averaging. When there's dips, dollar cost
• 40:50
  average harder. When it's just kind of going
• 40:52
  crabbing, you know, dollar cost average.
• 40:54
  Even though I don't listen to my this advice myself because I get
• 40:57
  FOMO when it goes up, I dollar cost average as well.
• 41:01
  If you haven't stacked the top, are you a real bitcoiner?
• 41:04
  That's what I got to say anyways.
• 41:06
  Opti, what's your take on this? Do you think the US government
• 41:10
  is suppressing the price of Bitcoin?
• 41:12
  I mean, I just feel like they're doing it to spike Trump, to be
• 41:16
  honest, bro. Like Trump goes in there and
• 41:18
  makes it part of his policies. Like I'm going to make all these
• 41:21
  Bitcoiners rich. I'm not going to sell Bitcoin on
• 41:23
  my watch if I'm in the administration.
• 41:26
  And then, bro, that same Monday they move the corn and now
• 41:29
  they're moving it to Coinbase. But at the same time they're
• 41:31
  saying, oh, we're moving it to Coinbase, but we're not trading
• 41:34
  it. We might be trading it, but you
• 41:35
  never know. What's your take?
• 41:38
  Yeah, I mean, that was my initial response as well, that
• 41:42
  it does seem very coincidental that ever since Trump embraced
• 41:46
  Bitcoin, he went to, you know, Bitcoin Nashville and was like,
• 41:49
  all right, we want to make sure that Bitcoin does.
• 41:52
  Well, they transfer their Bitcoin and it looked like they
• 41:54
  were going to sell it. I also heard the rumors as well,
• 41:58
  not just from Chuck Matey, but other people that apparently
• 42:00
  they've been talking about consolidating and updating their
• 42:05
  custody of their Bitcoin with Coinbase.
• 42:08
  So it is very interesting that we're seeing these metrics.
• 42:11
  Of course, on Bitcoin Twitter, we always go to like the, you
• 42:15
  know, government's bad and dumb and they're obviously going to
• 42:17
  dump their Bitcoin on us. But whether it's the US
• 42:20
  government or not, I, I still kind of, you know, putting my
• 42:24
  tinfoil hat on, still kind of believe that there is some
• 42:27
  semblance of price suppression going on right now.
• 42:30
  And do I have, you know, the, the detailed response and the
• 42:34
  receipts to tell you that now it just, it's just kind of a, a
• 42:37
  vibe that I'm getting right now. But you know, when you really
• 42:39
  boil everything down, market dynamics are very simple.
• 42:43
  The Bitcoin price action is very simple.
• 42:45
  There's just more sellers than there is buyers right now.
• 42:47
  And I think every one of us can feel this in our personal lives.
• 42:51
  It's like we're not seeing the the FOMO vibes right now from
• 42:55
  people. If you talk to people about
• 42:57
  Bitcoin, they're like, yeah, yeah, I don't care.
• 42:59
  But once the price does start moving and making these moves in
• 43:02
  days, you know, move in really short time frames, then you're
• 43:06
  going to see that there's going to be more interested buyers in
• 43:08
  the market. So you always just kind of boil
• 43:10
  it down. Bitcoin's the most liquid free
• 43:12
  market in the world, and there's just more sellers and buyers.
• 43:15
  And like David Bailey pointed out, there has been a huge, huge
• 43:19
  amount of selling in this bear market, hence why the price is
• 43:22
  kind of crabbing. But I, I'm still convinced that
• 43:25
  by the end of the year and the beginning of 2025, like it,
• 43:28
  it's, it's still the cycles playing out.
• 43:30
  We're going to get some incredible price movement.
• 43:32
  So hey, more cheap sets for us all.
• 43:34
  If the US government is dumping the coin, thank you very much,
• 43:38
  Go buy that U.S. government Bitcoin because this is the true
• 43:41
  separation of money and state. Yeah, they're literally
• 43:44
  separating money and state for us.
• 43:45
  It's wonderful. Anyways, BIC carry, do you have
• 43:47
  any thoughts on this? Yeah, I do.
• 43:49
  It's like, you know, Bitcoins like a a spring, like the more
• 43:53
  you try to push it down, it's just going to recoil and bounce
• 43:55
  back up. Another thing that people that
• 43:58
  really need to keep in mind is the fact that, you know, because
• 44:00
  this is a programmatic supply emission, there is no Central
• 44:04
  Market maker. You know, even if you want to
• 44:06
  imagine there is, there is no central bank that can manipulate
• 44:09
  the price. So they can't print more, they
• 44:12
  can't suppress it more. And at some point the whole
• 44:14
  thing's just going to explode. So just be patient 1. 100% just
• 44:18
  be patient. And again, it's I love I love
• 44:20
  that it's a coiled spring. You could push it down for as
• 44:22
  much as you want, but that's just going to make it explode to
• 44:25
  the upside higher. Also, Fu Dennis and if you know,
• 44:30
  you know, FU 58 gang, whatever the curse of of the 58K gang and
• 44:37
  also what I got to say as well is yes, eventually that's that's
• 44:42
  what people have to understand is that like the reason that
• 44:44
  they're able to manipulate the markets and manipulate money the
• 44:47
  way that they are able to is because they can.
• 44:50
  Look, I'll give you an example. When the US government pulled
• 44:53
  out of Afghanistan, they left $70 billion worth of equipment.
• 44:57
  OK. Then as soon as that happened,
• 45:00
  like shortly after, within a matter of months, they're
• 45:02
  sending hundreds of billions of dollars to Ukraine.
• 45:06
  The reason that they're so Willy nilly about that and they just
• 45:08
  don't care is because the money is fake.
• 45:11
  They can just print it out of nothing, right?
• 45:13
  So it has no consequence when you have that God like power of
• 45:18
  being able to create money for free that the rest of us have to
• 45:21
  work for. With Bitcoin, you can only
• 45:24
  manipulate the market as long as you have, you can only
• 45:27
  manipulate the market and put downward cell pressure.
• 45:29
  As long as you have Bitcoin to sell.
• 45:31
  Once you run out of Bitcoin to sell, that's it.
• 45:34
  You're you either mine it or either buy more like that's it.
• 45:37
  There's no other way of acquiring it, right?
• 45:40
  So the way that I, the way that I frame it is it's it's like you
• 45:43
  have one shot. You can shoot that shot and
• 45:46
  that's it. You know you're going to just
• 45:47
  have to you're going to have to buy the Bitcoin that you sold.
• 45:50
  So anyways, kind of interesting topic.
• 45:52
  I think it creates an opportunity for people to
• 45:54
  continue stacking at these prices.
• 45:56
  I think a lot of people are are maybe disappointed, but I do
• 46:00
  agree with opti. I think we're going to have a
• 46:02
  great end of the year. Anyways.
• 46:03
  Let's get to the culture talk to bit carrot really excited about
• 46:06
  this guys stay tuned. By the way, if you guys are
• 46:09
  enjoying the show so far, there's about 1000 thousand 100
• 46:12
  of you guys watching between YouTube Rumble and X Make sure
• 46:15
  to smash that like button. Anyways guys, let's hit the
• 46:17
  culture. The daily culture.
• 46:29
  All right everybody and we're back check out our sponsor, the
• 46:35
  orange pull up stack friends who stack sats join the Bitcoin
• 46:39
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• 46:43
  join the 11,822 and we're doing it live join the 11,822
• 46:49
  bitcoiners that are currently on the app.
• 46:51
  The orange pull up is a great resource if you in a city you
• 46:54
  don't know any bitcoiners around you.
• 46:55
  You go to a new city or you're traveling for a conference, you
• 46:58
  don't know any Bitcoin events near you or bitcoiners around
• 47:01
  you. The Orange Fill app is a great
• 47:02
  resource has a geographical feature so show you the
• 47:05
  bitcoiners that are near you and it gives you the ability to send
• 47:08
  them a message. It's also one of the best ways
• 47:10
  to reach me directly. I don't really answer Twitter
• 47:12
  DMS these days or emails or random Telegram messages.
• 47:15
  So if you want to reach me, download the Orange Fill app and
• 47:17
  send me a message to there. To get started, scan the QR code
• 47:21
  on your screen right now or check the link in the video
• 47:24
  description. Download the orange pilot today
• 47:27
  stack friends. Who stacks that Anyways, I'm
• 47:30
  excited for this conversation because dark dark dark coins are
• 47:34
  boy and he is the supreme leader of the simply Bitcoin Telegram
• 47:38
  chat. And you know, if a friend of
• 47:41
  Dark Coin is a friend of mine and we got bit carried in the
• 47:44
  house and what are we going to talk about, Opti?
• 47:47
  Yeah, let's let's start with just the importance of open
• 47:50
  source development bit carat because I I know you are a
• 47:53
  contributor, you're developer. I did see, you know, you did a
• 47:56
  tweet or a noster post the other day about kind of inspiring new
• 48:01
  people to get involved with coding.
• 48:03
  So let's start with why people should at least maybe, even if
• 48:07
  they're not the best coders, just like, get involved with
• 48:09
  open source development. Yeah.
• 48:11
  And and for our for our audience, big carrot could,
• 48:13
  could you first define what it is like can you give context?
• 48:16
  What is open source development? How does it?
• 48:19
  How does it apply to Bitcoin and why is it important for Bitcoin?
• 48:23
  OK, well I mean Bitcoin is open source, so so.
• 48:26
  What? What does that?
• 48:27
  What does that? Mean.
• 48:27
  What does that mean? OK, so basically Bitcoin is
• 48:32
  software, right? We all know this and the code is
• 48:35
  open for anybody to read on the Internet.
• 48:38
  And over like the last couple of decades, what we've discovered
• 48:42
  is that, you know, companies such as Microsoft and other big
• 48:45
  companies that decide to close off so that no one else in the
• 48:48
  public can read their code base. They actually don't do as well
• 48:52
  as open source, you know, in a long, in a long haul, you know,
• 48:56
  so, you know, a lot in the in the past, people are afraid.
• 48:59
  Oh, you know, like if you see what I actually wrote, how the
• 49:02
  code is, code is built, then, you know, we're not going to
• 49:05
  protect our proprietary, you know, architecture or
• 49:08
  proprietary code base. But you know, if it's open, that
• 49:12
  means anybody in the world can inspect it.
• 49:14
  Anybody can look at it. They can audit it, they can find
• 49:17
  bugs and this is really critical to find those bugs and test it
• 49:22
  because it's a it's a matter of security.
• 49:25
  Like if you can't audit bitcoins code, you can have security bugs
• 49:30
  in there. Someone could be double
• 49:32
  spending, right? They could be double printing,
• 49:34
  right. You don't know that if it's if
• 49:36
  it's a closed off code base, but because it's open, everyone can
• 49:40
  look at it. And the more eyes are available
• 49:43
  to look at it, the more secure Bitcoin gets.
• 49:47
  So if you're concerned about Bitcoin potentially getting
• 49:51
  hacked or Bitcoin having security vulnerabilities, you
• 49:55
  want to have as many people looking at it as possible.
• 49:59
  So going back to the question that Optio is asking me.
• 50:02
  So why am I asking more people to get involved?
• 50:05
  You know, 2024 is a very different age from let's say
• 50:10
  2020 even in terms of software development, because we have all
• 50:13
  these AIS now. And what I'm seeing is a rise in
• 50:18
  more people who don't have a lot of technical background who can
• 50:21
  actually start to write their own apps.
• 50:23
  And it's getting a lot easier because the AI is so powerful in
• 50:27
  enabling people to get access to information faster than ever
• 50:30
  before. So you can use it as a tool.
• 50:33
  And you know, what I see a lot with Bitcoin and lightning and
• 50:39
  nostril development is that there's just not enough people
• 50:41
  looking at it. And you don't have to be an
• 50:43
  expert. You can sort of download it and
• 50:45
  run it yourself and try it out. And this helps the network, it
• 50:48
  helps build a stronger Bitcoin network.
• 50:51
  So if we want an ecosystem where a lot of people are using it, we
• 50:54
  have to go through all these phases of testing and robustness
• 50:58
  testing and people auditing and looking at it to make it
• 51:01
  stronger because effectively, you know, open source
• 51:05
  development, excuse me, is greatly underfunded compared to
• 51:10
  commercial development. I mean, if you look at, you
• 51:12
  know, big megalithic tech companies, they have gazillions
• 51:15
  of dollars to pay people to go, you know, look at code and fix
• 51:20
  it all day long. But it open source, the majority
• 51:24
  of the people are actually volunteers.
• 51:26
  So, you know, and some of them are funded by grants, but not
• 51:29
  everybody. And if more people get involved
• 51:33
  and if you don't have to be an expert, a lot of people are
• 51:35
  actually self-taught. They're just, you know, download
• 51:38
  it, try it out, test it and then report errors.
• 51:41
  You know, just don't give up when it doesn't work.
• 51:43
  Like, tell the person who created it that there's a bug
• 51:46
  here that's really important because then people can help fix
• 51:49
  it, you know, And that actually improves the software and
• 51:53
  improves the security of everything.
• 51:56
  Love it for people out there like what's the process for?
• 52:00
  Like you just mentioned it but being more more clear on the
• 52:04
  process. Anyone out there can participate
• 52:07
  in any open source software and all you got to do is just show
• 52:10
  up and start tinkering with stuff and checking stuff right?
• 52:13
  Yeah, absolutely. You know, you know, a lot of
• 52:16
  them are in GitHub or there are tons of chat rooms on Telegram
• 52:20
  and Discord. You can use an existing product
• 52:24
  that's run by a company. You can, you know, go to
• 52:27
  Plebnet. Plebnet is a, you know, big
• 52:29
  group of Bitcoin enthusiasts or node runners, you know, run your
• 52:34
  own node and get on a chat room and start talking to people and,
• 52:38
  you know, say, hey, you know, I'm trying this out.
• 52:40
  Did you also see this issue? You know, can somebody help me
• 52:44
  with that? Or, you know, I, I found some
• 52:47
  bug, you know, I want to report it, that kind of thing that
• 52:50
  actually helps the network. It helps Bitcoin and grow
• 52:52
  overall basically. So let me ask you something also
• 52:56
  bit carrot like what is the like organization behind like
• 53:01
  bitcoins open source development, for example, like
• 53:05
  if someone wanted to contribute to Bitcoin, what would be the
• 53:09
  steps? Who is like kind of responsible
• 53:12
  for that? Like, where would people get
• 53:14
  started? And if they just want to kind of
• 53:16
  look at, you know, the the latest Bitcoin code, what should
• 53:21
  they do? There's so many Bitcoin
• 53:25
  projects, so it's kind of hard to say.
• 53:28
  You know, there are foundations such as Open SAS and HRF in the
• 53:32
  humans, right? Sorry.
• 53:33
  The Human Rights Foundation in which do give grants, they give
• 53:36
  bigger grants. But again, in a way, these are
• 53:39
  centralized parties, right? So what I try to encourage our
• 53:43
  people to give donations directly to the developers, and
• 53:48
  you can do that if you're gone. Let me let me rephrase that.
• 53:52
  Bitcoin Core. Specifically, OK, Bitcoin Core.
• 53:56
  What about it? So like if you wanted to
• 53:59
  contribute to Bitcoin? Core.
• 54:01
  The the, the, the key, you know, Satoshi didn't want it this way.
• 54:04
  Satoshi wanted multiple, you know, Bitcoin softwares and they
• 54:07
  are, but you know, most people are using Bitcoin Core right
• 54:10
  now. How would they go about that?
• 54:14
  How would they go about like try?
• 54:15
  You can go to the GitHub for Bitcoin Core.
• 54:18
  You can download the software, you can run the software and
• 54:21
  then if you see something, there's there's an issue, You
• 54:23
  can go to their chat group, there's like an IRC chat room.
• 54:26
  Or you can go to the GitHub and look at the issues that have
• 54:29
  been filed And you can, you know, test the outstanding, you
• 54:34
  know, code that's that's in process that's called a pull
• 54:37
  request. You can do the stuff like that
• 54:40
  and then, you know, just be part of the conversation.
• 54:43
  Like, you know, if you don't know what to do anything, if you
• 54:46
  don't know what to do, you can always go and listen in on a lot
• 54:48
  of these talks. You could go to your local bit
• 54:51
  devs group and listen to what other people are are talking
• 54:54
  about so you can understand. Ask questions, go to public
• 54:58
  forums. That that's a way to start
• 55:00
  basically. Does that answer your question?
• 55:02
  Absolutely. And let me ask you something.
• 55:04
  Do you think that there is a bit of like a lot of people would
• 55:08
  say, oh, it's it's, it's a it's a danger that it's centralized.
• 55:12
  Like for example, one of the things the, the, the GitHub, for
• 55:16
  example, like one of the things that happened with the whole
• 55:18
  Craig Wright lawsuit was that they managed to take down the
• 55:23
  Bitcoin core.org website, orbitcoin.org website in the UK
• 55:28
  because of the, you know, the whole copyright stuff in that
• 55:32
  sense. So does that concern you that
• 55:34
  potentially in the future that could be a, you know, a weak
• 55:40
  point for governments to exploit to potentially go after Bitcoin
• 55:43
  developers? I think that is an attack
• 55:46
  factor. I think it has been an ongoing
• 55:48
  attack factor for this entire year.
• 55:51
  For example, the Tornado Cash trial, the Samurai devs who were
• 55:56
  arrested and then you know, Phoenix Wallet exiting United
• 56:00
  States and then I believe some others also.
• 56:03
  So I think in the United States is actually a fairly hostile
• 56:06
  environment currently for open source developers.
• 56:10
  In other places, it may not be so.
• 56:11
  And I think that's really important for people who are
• 56:14
  actually working on legislation to push back on this.
• 56:17
  If there's something on the regulatory side, you shouldn't
• 56:20
  be like holding developers who are actually building a tool and
• 56:24
  then putting them in jail if somebody commits murder with it,
• 56:27
  for example, you know, like if somebody manufacturers knives
• 56:29
  and someone uses a knife, you know, to put that person who
• 56:32
  manufactured a knife, well, you're the one who murdered.
• 56:35
  No, they didn't. They didn't commit the crime.
• 56:36
  They made a tool. So there is this kind of, you
• 56:40
  know, how do you say it, this this conflict going on right
• 56:45
  now, you know, this struggle between like what, what do we
• 56:48
  categorize as, you know, what, what's what's a crime, what's
• 56:53
  not a crime in law? And so I think in terms of open
• 56:57
  source, the code base is on GitHub.
• 57:01
  I think, you know, maybe long term that could be a risk
• 57:03
  because Microsoft owns GitHub. But The thing is it is
• 57:06
  decentralized enough that, you know, everyone has a copy of it.
• 57:09
  So if you're going to take down the whole thing, it's going to
• 57:11
  be almost impossible because like it's all the nodes that are
• 57:13
  running that copy of the, you know, Bitcoin Core, if that's
• 57:17
  what you're concerned about. And there's other versions of it
• 57:19
  as well, so. Of course, and, and I think
• 57:22
  that's something that's like really important to keep in
• 57:24
  mind, right, which is like, I think that hosting the software
• 57:27
  on GitHub is more so of a convenience thing rather than
• 57:32
  something out of necessity. And This is why it's so
• 57:35
  important to run your own node, because when you're running your
• 57:38
  own node, you literally have your own, you're running your
• 57:42
  own version of the Bitcoin software, right?
• 57:44
  Like this is what decentralization is, is all
• 57:47
  about. This is what makes it so
• 57:48
  important. Now to go back to your point and
• 57:52
  I've seen a lot of comments over the last couple weeks in regards
• 57:55
  to why are you guys talking about politics?
• 57:58
  You just heard big Cara talk about it, right?
• 58:01
  They the United States, the United States government has
• 58:04
  been extremely hostile towards Bitcoin.
• 58:07
  Sorry, software developers. They use the Tornado cash case
• 58:12
  to set a precedent after all the appeals got shut down.
• 58:17
  The precedent was set nine months after they they jailed
• 58:23
  the samurai guys and that case is incredibly important.
• 58:26
  So this upcoming election is why we talk about all this stuff.
• 58:32
  It's incredibly, incredibly important, specifically in the
• 58:34
  United States, because it's going to determine whether
• 58:38
  there's going to be a hostile or a positive environment for not
• 58:43
  only Bitcoin entrepreneurs, Bitcoin business owners, but
• 58:47
  also Bitcoin developers and just software developers in general.
• 58:51
  Because what what the government is doing is insane.
• 58:53
  They're basically trying to make the case that writing code is
• 58:58
  dangerous. And what they did with the
• 59:02
  Tornado Cash case was fascinating because essentially
• 59:06
  the US government was making the case that because the North
• 59:09
  Koreans use the software, they have the ability to sanction
• 59:14
  software, sanction speech, sanction code, which in my
• 59:18
  belief, I'm not a lawyer. I think it's a complete, it's
• 59:22
  completely against the 1st Amendment right, which literally
• 59:24
  specifically protects speech and code is speech in my opinion.
• 59:29
  So yeah, I really, really appreciate those insights.
• 59:32
  BIC Carrot. Yeah.
• 59:33
  And there's also one thing I else I want to mention is that,
• 59:36
  you know, when we're talking about supporting Bitcoin
• 59:38
  developers, you know, there's a reason why a lot of us want to
• 59:42
  be pseudo anonymous because we're walking this really fine
• 59:45
  line because we don't know what the regulatory action is going
• 59:47
  to be right now. You know, like they could be
• 59:50
  retroactive and go back and say, well, you did this like five
• 59:53
  years ago and now we want to put you in jail, right?
• 59:56
  So I think what's really important is to realize that if
• 59:59
  you're going to donate to an organization like Open SAS, it
• 1:00:02
  is centralized and they actually, you know, I don't know
• 1:00:04
  how much they doxx, but I do know some of these donations are
• 1:00:08
  the the recipients are heavily doxed.
• 1:00:11
  So the best way to support people who are actually working
• 1:00:15
  on a security in the future of Bitcoin, if you want to support
• 1:00:18
  Bitcoin developers, you should donate to them directly.
• 1:00:22
  OK, so there is one organization that's trying to do it.
• 1:00:25
  It's really hard because it's grass roots and there isn't much
• 1:00:28
  publicity, but I'll mention it right now and opt to put the
• 1:00:31
  chat, put the link in the chat. It's called invincible privacy
• 1:00:34
  dot GitHub dot dot IO forward slash donate.
• 1:00:38
  So if you want to donate there to any other projects that are
• 1:00:40
  working on privacy, they're working on issues that are
• 1:00:45
  critical for the security of bitcoins future.
• 1:00:49
  And also my project is also on their high talk.org.
• 1:00:52
  You can donate there and you know, there there's also another
• 1:00:56
  thing, it's like everything I work on, I want to make sure
• 1:00:58
  that we don't track what people are doing.
• 1:01:00
  So like for example, with Hive Talk, we want to make a space
• 1:01:04
  where people are not, we don't have any data on you after you
• 1:01:07
  leave the room. So basically once you're in the
• 1:01:10
  room, you know, talking to people, you know, and once
• 1:01:14
  you're gone, there's nothing, the server has no memory.
• 1:01:17
  So this is also a privacy like focus that I've been going after
• 1:01:22
  because I feel that too many of the big tech platforms that
• 1:01:24
  we're using, like Zoom or just, or whatever platform, they
• 1:01:28
  record probably your conversations and what you're
• 1:01:30
  saying. And who knows, maybe they
• 1:01:32
  actually data mine every word you put out there on the
• 1:01:35
  Internet and then they can use that against you in the future.
• 1:01:38
  So like, you know, Minority Report, you know, OK, this
• 1:01:41
  person had these thoughts. We're going to like, you know,
• 1:01:44
  put them on this short list of potentially being a criminal
• 1:01:47
  even though they never did any crime.
• 1:01:50
  So This is why I think privacy is important.
• 1:01:52
  I think it's important for us to protect freedom of speech.
• 1:01:55
  Freedom of speech is really important because if you don't
• 1:01:58
  have the freedom to think about things and make those mistakes,
• 1:02:02
  you're also suppressing innovation.
• 1:02:04
  You know, like a lot of these authoritarian dictatorships, you
• 1:02:08
  can't think of something that's not in line with the status quo.
• 1:02:11
  And the minute that happens, there is no forward innovation,
• 1:02:15
  there's no progress in society, there's no creativity that's all
• 1:02:18
  suppressed. And this is one of the major
• 1:02:21
  reasons, you know, why these things are all interlinked.
• 1:02:24
  You know, people are like, oh, why?
• 1:02:25
  You're like socket and price. Well, there is there's a reason.
• 1:02:27
  I mean, do you want growth? Do you want beauty?
• 1:02:30
  Do you want a good solid foundation to your economies?
• 1:02:34
  And you know, Bitcoin is all those things where your value is
• 1:02:39
  not devalued over time like Fiat.
• 1:02:43
  If you want this, you all have to.
• 1:02:44
  You also have to protect freedom of innovation.
• 1:02:47
  And the innovation is only possible if you're free to think
• 1:02:51
  things that are maybe not mainstream or maybe not part of
• 1:02:55
  the stars. Cool.
• 1:02:56
  Or maybe you're crazy and maybe could be censored.
• 1:02:59
  So This is why all these things are actually interlinked and,
• 1:03:04
  and This is why I encourage that if you support a project and you
• 1:03:07
  support freedom of speech and you support innovation and you
• 1:03:10
  support a Bitcoin future where your money is solid as a rock,
• 1:03:15
  then support your developers directly because we're building
• 1:03:19
  these tools for you guys. This is for you.
• 1:03:21
  It's not just for us, it's for everybody.
• 1:03:24
  Beautiful. And I, I, I, I fundamentally
• 1:03:26
  agree because, and this is what some people perhaps, but you
• 1:03:31
  know, they, they don't appreciate that side of Bitcoin,
• 1:03:35
  but Bitcoin fundamentally is code, right?
• 1:03:38
  It's code. And, you know, people have to
• 1:03:42
  write that code. People have to maintain that
• 1:03:44
  code. And how?
• 1:03:46
  To speech. There we go.
• 1:03:47
  I, I, I 100% agree. It really is.
• 1:03:50
  It's literally, it is speech. It's like, it's like you're
• 1:03:54
  typing it's words. It's, you know, it might not be
• 1:03:57
  like human language, but it's computer language.
• 1:03:59
  But still you type it with a keyboard.
• 1:04:01
  You can't look at me with a straight face and say, OK,
• 1:04:04
  somehow me typing with a keyboard is something like words
• 1:04:07
  are dangerous. Like that's a very kind of
• 1:04:09
  slippery path to go down. It's only totalitarians that
• 1:04:13
  find it dangerous. But what, what I will say also
• 1:04:17
  as well is it it's, it's probably a good idea to get a
• 1:04:21
  deeper appreciation of all the aspects of Bitcoin.
• 1:04:24
  So I was very lucky in the sense that when I got into Bitcoin
• 1:04:28
  back in 2016, I got into Bitcoin through Bitcoin mining.
• 1:04:31
  And that really gave me an appreciation to the one of the
• 1:04:37
  aspects, the infrastructure aspect of Bitcoin, but there's
• 1:04:41
  the coding aspect of Bitcoin. I never really got into that.
• 1:04:44
  I've got into the media side of things for better or for worse.
• 1:04:48
  But this is another core component, a key component of
• 1:04:51
  Bitcoin. So, you know, to have, even
• 1:04:54
  though I, I don't understand on a technical level, I do
• 1:04:56
  understand it on a conceptual level.
• 1:04:58
  It's it's good idea to to have an understanding of what it is,
• 1:05:03
  how it is, how the thing that you hold and that you're
• 1:05:07
  benefiting from works. That's probably a good idea to
• 1:05:11
  catch up on this. So I really like this episode
• 1:05:15
  because we're talking about, I'd love to show off that website
• 1:05:18
  Opti. I really like that we're talking
• 1:05:21
  about something that we usually don't talk a lot about on on
• 1:05:25
  simply Bitcoin. And shout out to Darth for
• 1:05:28
  recommending this awesome guest. I also want to talk about bit
• 1:05:31
  Carrot's website or project better said, I apologize.
• 1:05:35
  It's called Hive Talk Org Opti's pulling it up right now and Hive
• 1:05:39
  talk is a free browser based for real time video calls.
• 1:05:43
  That's that's super cool. So what is this bit Carrot and
• 1:05:48
  why should why should people care?
• 1:05:51
  So as I said a bit earlier, is it's supposed to be the new
• 1:05:55
  Zoom, you know, so or the new Jitsu where people who can get
• 1:05:59
  together and talk, but we've enabled nostril logins and we've
• 1:06:04
  also enabled lightning zaps. So basically if you're in a room
• 1:06:08
  with somebody like, you know, right now with me, you, me and
• 1:06:11
  Opti, you know, there'll be a little icon on the bottom left,
• 1:06:14
  bottom right hand corner where you can send in lightning sats.
• 1:06:17
  So for example of Opti saying something really awesome, you
• 1:06:20
  can ZAP with him. Woo Hoo.
• 1:06:23
  And then, yeah, you don't have to have a Noster login.
• 1:06:27
  You can log in with just a regular name or, you know, a
• 1:06:30
  lightning address if you don't have, you know, Noster.
• 1:06:33
  But at the same time, if you use Noster, there are more features
• 1:06:36
  that we're building in because everything's so tightly
• 1:06:39
  integrated in terms of like the social aspect and also with the
• 1:06:42
  lightning aspect. And then it's cross compatible
• 1:06:45
  with all the other Noster clients that are out there.
• 1:06:50
  And that's the beauty of Noster is that you can bring your
• 1:06:52
  social media search, not social media, your entire social
• 1:06:55
  network. So all the people that you
• 1:06:57
  follow on Noster Media social, you can bring that entire list
• 1:07:02
  with you across any different any Noster app, you know, and
• 1:07:07
  it's not like you can do that with mainstream social media.
• 1:07:09
  Like for example, if you have a whole bunch of people that you
• 1:07:11
  follow on Twitter X and then you go use Facebook, you know,
• 1:07:15
  there's no like automatic crossover to bring your entire
• 1:07:20
  social network over to Facebook. You have to rebuild it all over
• 1:07:22
  again, right? So and the same thing.
• 1:07:25
  It's like if you have a whole following on Twitter and then
• 1:07:27
  you want to go to Instagram, or if you want to go to eBay to do
• 1:07:31
  shopping or Etsy, you have to rebuild the entire social
• 1:07:34
  network. And the power of Nostra is that
• 1:07:36
  you don't have to do that because it's a private key,
• 1:07:38
  public key based system that's similar to Bitcoin.
• 1:07:42
  And the power is that, you know, the network is everywhere.
• 1:07:48
  Yeah. And, and I agree, like, and I
• 1:07:51
  think that's like lost on people a little bit.
• 1:07:53
  Like you're using like Damus or like Primal and you're using
• 1:07:59
  these apps to interact with Noster.
• 1:08:02
  But those apps are essentially just facilitating.
• 1:08:06
  They're essentially just, I don't want to say rappers,
• 1:08:10
  that's not the right word, but they're really clever UIS for
• 1:08:15
  you to interact with the protocol.
• 1:08:18
  Nailed it. And the equivalent would be you
• 1:08:25
  have a variety of different wallets you can use, for
• 1:08:28
  example, you can use Sparrow, you can use Electrum.
• 1:08:31
  I'm a I'm an Electromaxie. And you know, you can use
• 1:08:36
  Bitcoin Core, right? But there is different wallets
• 1:08:40
  that basically do plus or minus the same thing and allow you to
• 1:08:45
  interact with the protocol Bitcoin, right?
• 1:08:49
  And you can build various things on that.
• 1:08:52
  For example, there's a lot of multi sig companies.
• 1:08:56
  There you go, Opti's drinking carrots.
• 1:08:59
  I'm drinking big carrot juice. And, you know, it allows you to
• 1:09:03
  kind of interact with it. So for example, there's Casa,
• 1:09:06
  there's Oh my God, why forgetting the name?
• 1:09:11
  What is the name? Dude, it's definitely Friday,
• 1:09:15
  you can tell. What is the name of this of this
• 1:09:18
  company? Why am I forgetting it?
• 1:09:20
  Oh, nunchuck, right. So there's different kind of
• 1:09:23
  Unchained. There's there we go.
• 1:09:26
  There's definitely like a bunch of collaborative custody
• 1:09:30
  applications that are built on top of the Bitcoin protocol that
• 1:09:34
  allow you to do different things.
• 1:09:35
  So the point I'm trying to make is, and the reason I'm bringing
• 1:09:38
  up those examples is now apply that to Noster, right?
• 1:09:43
  We've only hit the surface of what what can be built on top of
• 1:09:49
  Noster and just take a look at what's been built on top of
• 1:09:54
  simply, I mean simply I'm reading in the chat, God damn it
• 1:09:57
  guys, what's been built on top of Bitcoin so far to kind of get
• 1:10:01
  an idea of what can be built using something like Noster.
• 1:10:05
  Yeah, you can run your entire life on Noster at some point
• 1:10:08
  very soon. I think some of the smartest
• 1:10:11
  people are on Noster. It's incredibly fast.
• 1:10:15
  People are really very engaged, like I've not seen this level
• 1:10:19
  engagement in a very long time. Like everybody wants to be part
• 1:10:23
  of it. So it's really inspiring because
• 1:10:27
  you know, there are people who actually are not developers, but
• 1:10:29
  they like made their own apps because they, they just got
• 1:10:33
  swept up in this enthusiasm on Astra.
• 1:10:36
  And it's actually very easy for someone who doesn't have much
• 1:10:39
  experience to build an Astra client.
• 1:10:43
  And, and you could build it however you want.
• 1:10:45
  Like I remember like when, when Damus was first released, that
• 1:10:49
  was like the first iteration. And then the primal app came out
• 1:10:52
  and it was like, holy, like this is great, you know, right.
• 1:10:55
  So, and I know that there's going to be something else
• 1:10:57
  that's released, but the point is, is that you could take all
• 1:10:59
  your followers with you. You could take all, you know
• 1:11:01
  what I'm saying? Like that lives on.
• 1:11:03
  And that's the beauty of it. And that's in stark contrast
• 1:11:06
  towards how social media works today.
• 1:11:09
  And I think that from an understanding standpoint might
• 1:11:12
  be a little bit difficult for some people to understand.
• 1:11:15
  That's why I kind of listed out all those examples.
• 1:11:17
  Anyways, we are getting close to the top of the hour.
• 1:11:20
  Big carrot. I do want to give you the
• 1:11:22
  opportunity to, if you have any final words for our audience,
• 1:11:26
  you know, there's 1200 people watching live right now.
• 1:11:29
  You want to plug something? You want to highlight something?
• 1:11:32
  What would it be? Sure, you know you can always
• 1:11:37
  find me on Auster at primal.net/bit Carrot.
• 1:11:41
  There's a link to all the projects I do.
• 1:11:44
  So I don't just do development, I also do some design work.
• 1:11:47
  I also make swag and other things.
• 1:11:50
  And there's also community group.
• 1:11:52
  If you're interested in getting more involved in lightning and
• 1:11:54
  Bitcoin development, there is Plebnet dot dev, which I also
• 1:11:57
  run. You know, the primary project
• 1:12:00
  right now, of course, is hivetalk.org.
• 1:12:02
  We would love it if you came and used it.
• 1:12:04
  Please give us feedback. Tell us how to make it better,
• 1:12:08
  Help us grow the circular economy.
• 1:12:11
  You know, join, join these meetups because you know, people
• 1:12:15
  are teaching each other and showing each other how to grow
• 1:12:19
  the Bitcoin circular economies and how to make Bitcoin
• 1:12:22
  everywhere all over the world. Absolutely beautiful.
• 1:12:26
  Beautiful. I think I have one last question
• 1:12:27
  for you, big Carrot, before we go SAT wise, Jenks says.
• 1:12:31
  How close do you feel built 12 or is to mainstream roll out?
• 1:12:40
  It's coming. I mean, there there's like the
• 1:12:42
  mining company, right, The ocean, I think they're doing
• 1:12:45
  their payouts in built 12. I think the Bolt 11 is pretty
• 1:12:50
  well entrenched right now. So that's not going to go away
• 1:12:52
  too soon. I think it's kind of cool.
• 1:12:55
  Bolt 12 is pretty cool because it allows you to have the
• 1:12:58
  reusable QR codes and recurring payments and other aspects that
• 1:13:02
  Bolt 11 doesn't have. But I think that, yeah, both of
• 1:13:08
  them will be in play for a while.
• 1:13:09
  I didn't know carrots talk. Yeah, carrots are very chatty if
• 1:13:12
  you let me be very chatty. I love that love.
• 1:13:16
  It they also taste delicious, so the multi multi use over here.
• 1:13:20
  It's a very carroty Friday. Anyways guys, thank you so much
• 1:13:23
  for tuning in to Simply Bitcoin Live.
• 1:13:25
  Today is August 16, 2024. I'm your host Nico So my Co host
• 1:13:29
  Optimus Fields and our guest for today, Bit Carrot.
• 1:13:33
  Go check out her awesome project Bit Carrot.
• 1:13:36
  Could you give it one more one one more plug please?
• 1:13:38
  Sure, you can find me on primal.net/bitcarrot and then
• 1:13:45
  come check out Hive Talk at hivetalk.org.
• 1:13:49
  And thank you guys so much. It's been a pleasure and I
• 1:13:52
  honestly been seriously honored to be here.
• 1:13:54
  Thank you. Thank you for joining us.
• 1:13:56
  All right guys, Unplugged this weekend, touch grass.
• 1:13:59
  Bitcoin will be here on Monday and so we'll be we will be back
• 1:14:03
  on Monday. It's going to 0.
• 1:14:09
  Anyways guys have an amazing weekend.
• 1:14:11
  Go touch grass, be out in the sun, enjoy your family, eat some
• 1:14:14
  good food and have a great weekend.
• 1:14:17
  We'll see you guys Monday for another episode of Simply
• 1:14:19
  Bitcoin Live. Episode was brought to you by
• 1:14:24
  bitcoinwell.com on a mission to enable independence.