Latest / Simply Bitcoin / Is Bitcoin BlueWallet Doxxing Your Info? | EP 532

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Is Bitcoin BlueWallet Doxxing Your Info? | EP 532 · Simply Bitcoin

0:04
All right everybody. Welcome to another episode of
0:07
Simply Bitcoin, we recovered the Bitcoin, use the memes, the
0:10
fails, Bitcoin culture, all of it.
0:12
Today we have a very special guest.
0:14
We have Alex McShane, he is the head of multimedia Bitcoin
0:18
magazine and also the head of programming at the Bitcoin
0:23
conference. Alex, how you doing today?
0:25
Good good. How are you doing, Nico?
0:27
What's up Opti? I'm super happy.
0:30
That you joined us today is a very, very interesting day.
0:33
We'll get to that in a second, but anyways, Opti it's time for
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Visit not all dot-eu at the time.
1:00
This recording the Bitcoin price is at 20 1740 SATs per dollar is
1:04
at 4600 sat held in corporate treasuries 1 million six hundred
1:10
and sixty thousand Bitcoin block height, 745,000, 527 the amount
1:17
of reachable Bitcoin. Oh, do you definitely want that
1:19
number to keep going up, 15,000 467.
1:23
The amount of Bitcoin issued percentage issued ninety Point
1:26
93% blocks to the having Is 90 4473.
1:32
Having estimate is April. 18th 2024.
1:37
Those are the numbers. All right, so let me address the
1:39
elephant in the room. Before we play the video will
1:43
get to where have a reaction. So it's a really famous video,
1:46
but I saved it because Alex was coming on the show and I'd love
1:49
to get his thoughts on it. Anyways, guys, as you know, or
1:54
if you don't, if you just live on YouTube land and you're not
1:56
paying attention on Twitter, fill our Most decided to part
2:02
ways. We had a we had differences in
2:04
future. Do we have differences in vision
2:06
for the future of this Channel? And you know, we would love, we
2:10
wanted Phil to stay but you know, he decided to step down,
2:14
We Love Phil. You know, he was with us for two
2:17
years, he's always going to have a special place in my heart.
2:20
He's like a brother to me. But, you know, I just, I guess
2:24
he just didn't want to be with us anymore.
2:26
We will be promoting any of things that fill works on.
2:30
And I wouldn't count him out. I'm positive that he's going to
2:33
start his fun with Bitcoin podcast.
2:35
So shout out to fill man because he's a legend anyways let's get
2:39
to the video that we're going to react to its from I would say
2:43
the the most favorite Bitcoin Economist.
2:46
Right? It's Hayek and he had this great
2:48
response to 48 second clip. Let me play that we're going to
2:52
Riff on it. I know this is going to lead to
2:54
good conversation. Anyways let's check it out.
2:57
Internet is going to make it very difficult.
3:00
To collect taxes on Services of all kinds.
3:04
After all, you can complete these transactions in cyberspace
3:07
and not on the ground. You can, you can a computer
3:13
companies now are getting their programming done in India.
3:19
I doubt that anybody's paying any taxes on any that so that I
3:24
think that the internet is going to be one of the major forces
3:28
before reducing the role of government.
3:31
The one thing that's missing but that will soon be developed is a
3:35
reliable Akash a method whereby on the internet, you can
3:39
transfer funds from A to B without a knowing b or B.
3:44
Knowing a internet is going to make it very.
3:47
So I Stake in that's not how it's actually Milton Friedman so
3:50
just correction on that. I actually thought that I posted
3:54
a Kya clip because he posted a high clip in the back but that's
3:56
still a Great Clip and it's really interesting Alex because
4:01
they're you have Milton Friedman definitely before his time
4:04
really echoing with the thesis of the sovereign individual very
4:09
similar thesis, right? So I I think it's very difficult
4:14
for us to conceive that now because we're seeing how much
4:17
government Saints are fighting the internet, right?
4:20
Whether that's the B administration's attempt at the,
4:23
you know, disinformation Bureau, right?
4:25
That they tried to incorporate or whether that is, you know,
4:30
Europe, where they're passing, they want to implement this
4:33
bureaucracy. That gets to decide what speech
4:36
and what speech, isn't what speech is allowed?
4:38
And what speech isn't allowed in Europe, right?
4:40
Or in China, for example, where their whole internet is censored
4:44
through the great, great firewall of China, right?
4:47
So do you still agree? With all these things going on.
4:49
Alex, you still agree with the Sovereign individuals thesis and
4:54
Milton Friedman's thesis. Yeah, just from, you know,
4:59
personal standpoint. I agree with the Sovereign
5:01
individuals thesis because I found that the more Bitcoin I
5:05
accumulate, the more I learn about sort of decentralized
5:08
Sovereign, Life practices, privacy practices.
5:13
It increases, my capacity to be left alone by the government and
5:17
to do trade without interference by the government.
5:20
And, and that's a beautiful thing.
5:21
So I think we're definitely still in route to a sovereign
5:25
individual type thesis, where you'll see people, Who I think
5:28
the Contemporary Notions of nation-states and nationalism,
5:33
you know, kind of a state citizenship identity are just
5:35
going to fall apart as more people accumulate this self
5:39
Sovereign wealth. It is Bitcoin.
5:43
Absolutely Opti you want to hit that.
5:46
Yeah, you before you brought up, the sovereign individual thesis.
5:50
I was thinking just by the quality of the recording, I was
5:54
wondering what time that was recorded and whether he had read
5:58
the sovereign individual because she was saying, exactly it was
6:01
that that looked like he was there.
6:02
I was in the 80s. That's what I would say.
6:04
That's a good be wrong thinking, but it looks likely.
6:07
Yeah, exactly. That's, that was where my head
6:09
is at. And for him, like you said, for
6:12
him to be I'm so pressuring about it to see it before you
6:16
have. The blueprint is just amazing,
6:19
you know? And then furthermore guys we are
6:21
seeing the sovereign individual thesis play out in real time and
6:26
we are seeing this happen everywhere and it's happening so
6:31
fast that we're missing it because as you were alluding to
6:37
that Hyatt clip that I thought was going to be played about the
6:40
only way that we're going to take the money out of the
6:42
government. Intend is by a roundabout way
6:44
and this is what we're doing guys that is Bitcoin.
6:47
Bitcoin is the roundabout way to take money away from the state
6:51
and furthermore guys like I'm I'm not sure whether the
6:56
sovereign individual is completely playing out, but it's
6:59
playing out as far as I can tell.
7:01
I, you know, if you read the sovereign, individual you very
7:04
much understand. Like wow, this is telling us
7:07
exactly what's happening. This is the blueprint and it's
7:11
becomes more obvious every single day in my opinion.
7:14
So, that's my take. Absolutely.
7:17
So back to Alex. So, In specific.
7:22
So, Let me ask you something. Because yes, the tools that are
7:27
given to us by the internet and then buy Bitcoin, right?
7:31
The layers on top of layers, they are going to facilitate
7:35
definitely more financial sovereignty and freedom over
7:38
governments. But don't you think that
7:41
governments are going to fight back?
7:43
Like what is the future of that in your mind?
7:46
Like my perspective is, I believe that the next 5-10 years
7:51
are going to be highly contentious These old
7:55
bureaucratic institutions are going to try to remain in power.
7:59
Like, for example, we covered a press release by the United
8:03
Nations yesterday and they were literally advocating what they
8:06
wanted governments to do is to D incentivize people to use
8:11
Bitcoin and shit coins, right? Either through, you know, taxes
8:15
or through regulation, right? What is your perspective,
8:18
especially from, where you work, from what you've seen.
8:21
I'm sure that you've had privileged conversation actions
8:24
that not a lot of people have, you know, that are not in your
8:26
situation. So what are your thoughts on
8:29
that, Alex? I think we're going to see
8:32
populations get bullied into using Central Bank digital
8:36
currencies and we should reject them at all costs and we're
8:40
going to see disinformation campaign after disinformation
8:43
campaign brought against Bitcoin and that's fine because you know
8:50
Bitcoin doesn't need their approval, we can use it, we can
8:54
use it, peer-to-peer it does make it more difficult to get
8:58
hyper Bitcoin ization into Action, right?
9:01
It's hard to get the thing into hands more people when every day
9:04
on the news, they just hear nonsense about it.
9:07
But I think we're fighting a good fight man and I think their
9:10
chance to squash. This thing is pretty much gone
9:14
to be honest. I think Bitcoin will win in the
9:16
end. Yeah, I definitely agree.
9:19
I think Bitcoin will win, but I tweeted this out.
9:22
It's not the, I am not concerned about the Finish Line.
9:26
What I am concerned about is the transition and I feel like the
9:29
transition is Only going to be a bumpy one.
9:32
Yeah I think it's going to be an ugly man.
9:33
I think, I think people should try pick give it a try.
9:37
If you've never, if you've never bought Bitcoin by, I put it in
9:39
Cold Storage, just give it a try, see what?
9:41
It's like, you'll feel the freedom from that first
9:43
transaction. You'll start to understand what
9:46
this is all about. And, you know, because if you
9:48
don't have it, I mean, things things might get ugly, man.
9:51
I mean, censorship controls on your money.
9:53
It's not These aren't games, think about how hard it is to
9:57
spend your own money as it is or to save or just store value
10:01
across time and space. It's, they're making it very
10:03
difficult for you to accumulate any economic power in this
10:06
world. Absolutely.
10:08
I spot on and, you know, I think the, you know, the Canada
10:11
protest Bitcoin magazine had an amazing issue that covered that.
10:18
Yeah you know that was there you go you know that was literally
10:22
an example of what a future might hold.
10:25
Old that wasn't even with Central Bank, digital
10:27
currencies. That was just with the regular
10:29
banking system, and they were able to have that much control.
10:32
Imagine a central bank, digital currency, but they don't even
10:34
have to go through banks. There's just a guy in a
10:37
bureaucratic office is just like, oh, I don't like them
10:40
processing back, you know, and that's really what we're
10:43
fighting against. Anyways, Opti you want to?
10:46
You want to wrap up the segment? Yeah man.
10:48
Well, first off, every time I hear bureaucrats talk about CBD
10:52
CSI, it blows my mind. How much of a dystopian
10:57
psychopath? These people really are.
10:59
It's absolutely crazy. And then just to your point, I
11:02
definitely feel like there's going to be a lot of pain in
11:05
this transition but that's why we come here, show up every day
11:09
to try to make sure that you guys are stacking steps that you
11:11
understand what is going on that are because Bitcoin will be the
11:15
life raft that saves you. Because guys, what we're all
11:19
doing here, I've said it before and it's kind of a bad meme, but
11:23
I say we're sacrificial lamb. For a reason guys.
11:25
Like we are the Pioneers here. We are the ones, taking the
11:28
risks. Like we are the ones that are
11:30
exiting the system and helping other people exit the system.
11:34
So in the future guys, they're going to look back at us and be
11:37
like those crazy psychopath illiterate bitcoiners.
11:41
A Bitcoin maximalist were absolutely insane for doing this
11:46
but I can only give my utmost. Thanks to them.
11:49
Because if we succeed at what we're doing guys, we are freeing
11:52
Humanity from Fiat slavery and what What more could we do than
11:56
try to usher in more freedom on this world?
11:59
Yeah, fucking spot on my friend but anyways Opti is time for the
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Cloaks.com. So, We did the recording, we're
12:27
about to talk about blue, all it, and we were basing our
12:32
information based on a post by no BS Bitcoin.
12:38
We've been updated ever since then.
12:41
And the update is that the blue wallet feature that apparently
12:47
sends data to Blu wallet servers is opt-in.
12:52
It's clearly labeled. And so just to make that minor
12:57
correction before begin to the show.
13:00
However, the conversation between Alex and Opti, I think
13:04
it's very useful and I think it's still, you know, really
13:06
highlights the benefits of Open Source.
13:09
So it's not as bad as it was before initially reported, that
13:14
blue wallet was sending transactions, transaction data
13:18
to their servers, even when connected to a personal note
13:21
note, that's what we reported initially.
13:24
But that, Clearly, not the case. It's a it's an opt-in.
13:28
It's clearly featured and you know we'll make sure to do
13:33
better next time in terms of confirming our sources, so sorry
13:38
about that. But anyways, let's get back to
13:40
the show with Alex and Optimus Fields.
13:44
Alright, everybody, so it is a very popular Bitcoin wallet, the
13:47
blue wall. A lot of people have it on their
13:49
phones. I myself included, but something
13:54
came out Today and it was very, very disheartening, let's talk
13:57
about it. This is from the GitHub and
14:00
there's a comment that says, when a user uses custom electrum
14:03
server, make him aware that his address or or transactions are
14:08
still leaked to a push notification server.
14:11
I'm going to translate that last part and say to a blue wall is
14:16
server. And when it says custom
14:18
electrode and server, that's a way of saying, when a user
14:21
connects to his node, his addresses and Transactions are
14:25
still being pushed to a blue wallet server.
14:31
Very interesting and here is, you know, Cavalia which we've
14:35
had on the show, he likes to say but I, you know, I this is
14:40
great. I appreciate it that you can
14:42
switch it off, but by default it's enabled, but Cavalli oh
14:47
says nothing. If something's are off, if the
14:49
push notifications are off, nothing is set to ground
14:52
control. So a couple things, right?
14:54
And again I'm not a software developer so I'm not gonna I'm
14:57
not going to pretend, I know the technicalities of it.
15:00
By couple questions. Why is that enabled by default?
15:06
Why was that? Not disclosed and here's
15:10
open-source doing it's fucking magic right?
15:14
Someone found this summer reported it and now it's out in
15:17
the open and what I assume is going to happen from the blue
15:21
wallet team specially by the pressure from the Bitcoin
15:23
Community is that they're going to definitely offer some type of
15:27
mitigation or fix or patch that maybe have the push.
15:30
Ins off by default. Another one last thing.
15:33
Why the push notifications pushing people's addresses and
15:37
transactions. I'm not a developer so I don't
15:40
know the answer to that question but from my simple-minded, plead
15:45
mind Something Fishy is going on there.
15:49
What it look privacy is. Obviously not of you know, from
15:54
my understanding I don't know man.
15:57
That I feel like there should have been more disclosure.
15:59
Alex. What are your thoughts?
16:00
And what I said onto Opti. I'm a, I'm bad at privacy.
16:05
I should be better, but I am a huge privacy advocate.
16:08
So I agree with you. I don't understand the full
16:12
mechanics of what's going on there, but I also saw that and I
16:15
think, yeah, those should be probably off by default.
16:18
I mean, it made me happy. I've never connected electrum to
16:20
my blue wallet, but I gotta say, I'm also more of a moon wallet
16:23
guy, fun, blue ball, it's be difficult and that it kind of
16:26
differentiates Bitcoin and, you know, lightning on chain of
16:30
lightning. And that's, that's confusing to
16:32
people like this. Same fucking time reward.
16:34
What do we do that? So I have other issues with that
16:37
app but hey I hope they fix it. Like you said, this is the
16:40
beauty of Open Source, you know, it's pretty much the only way to
16:44
go if you really want to verify and not trust the applications
16:48
that you're using. 100% Opti. What are your thoughts brother?
16:52
Yeah. So I tweeted this this morning
16:54
from the simply Bitcoin account and you know, I tried to do as
16:57
much research. I haven't I haven't fully.
17:00
Did the full don't trust verify, but in Response to the Tweet,
17:05
the blue wallet, official account responded to us and they
17:09
told me to don't trust verify and furthermore they said that
17:13
apparently, that feature is off by default now.
17:16
So I don't know exactly when that was change or what
17:20
happened, but like you said, maybe this is something that
17:23
they, you know, didn't really want to get notice.
17:26
But now it's noticed now and maybe they're backtracking a
17:29
little bit, and I'm a blue wallet user.
17:31
I've recommended blue wallet. I think it's pretty simple.
17:34
It's one of the main wallets I use on my phone.
17:37
So you know I and again like I understand the trade off that.
17:41
Hey, it's on my phone right now. It's not connected to my node.
17:45
It's not like I have much coin on that wallet, but it's
17:49
definitely definitely unfortunate to see.
17:52
Hopefully it gets patched up or it's not a big deal or what have
17:55
you. And I will definitely look into
17:57
it guys. I'll do an update whenever I get
18:00
to the bottom of it. Yeah.
18:03
So I'm scrolling at, I totally didn't realize that they replied
18:06
to the simply Bitcoin account. Yeah they said not true and then
18:10
simply Bitcoin. We said you said but it said I
18:13
don't want to fudge just reporting and they said don't
18:16
trust verify understood and then Bitcoin Bitcoin pleb said when I
18:21
connected my node to boo wallet, I would pay fees when sending to
18:24
my brother even though we have their comment, it's another
18:26
comment, huh. Honk with a lot of cases
18:29
responding to the post that I did.
18:32
I don't want to flood He goes prove it and they go just go
18:35
check it. This feature is off by default.
18:37
So did they so hmm? I mean it's weird because I'm
18:41
the kitchen or yeah. I don't.
18:43
They switch it hot and something different, they're posting
18:46
something different will get to the bottom of.
18:47
It will get to the bottom of it, but still, it highlights, really
18:51
the beauty of Open Source, right?
18:52
That's honestly what I want to focus on because if this was a
18:55
closed source project you would literally have no idea, not even
18:59
a way to verify, you would have to just trust them.
19:02
Anyways, moving on covering our favorite chick coin, casino
19:07
coinbase more bear Market pain. Crypto exchange, coinbase is
19:12
temporarily shutting down. Its us affiliate marketing
19:15
program. We were, this is a quote from
19:17
coinbase. We regret to inform you that
19:19
point base will be temporarily shutting down.
19:20
Its affiliate program in the United States with an effective
19:23
date of Tuesday, July 19th. The emails read, this has not
19:26
been an easy decision nor was it made lightly, but due to crypto
19:30
market conditions that The remainder of 2022.
19:34
Coinbase is unable to continue supporting incentivize traffic
19:38
to the platform on June 14th. Coinbase CEO.
19:41
Brian Armstrong announced in a blog post that the company was
19:44
laying off 18% of its staff or roughly 1,100 employees on
19:50
Friday. Bloomberg, reported that
19:52
coinbase is now the fourth world's 14th largest crypto
19:55
exchange down from the fourth position and less than a year,
20:00
get Rex coinbase, we've always said coinbase.
20:03
Ace is an enemy of Bitcoin. Their incentives are not aligned
20:07
with Bitcoin. Brian Armstrong took a bet which
20:11
it coins that he believed that he could, you know, he benefited
20:14
off Bitcoin, he initially started Bitcoin.
20:16
And then thinking, that he could expand his business.
20:18
He started offering shit coins. And I think Brian Armstrong is
20:22
smart enough to understand that he is peddling hot garbage.
20:26
So yeah, I thought the same time, I don't want to see any
20:30
business fail because that's a lot of people with a lot of jobs
20:32
with a lot of Families to feed. So I'm not going to, you know,
20:35
talk shit about that. But you know, live by the shit
20:40
coin die by this shit coin and it's not only coinbase laying
20:44
off staff their stock is down a lot, right?
20:48
So totally wrecked. But Brian Armstrong definitely
20:51
ran off like a bandit and definitely sold that stock to
20:55
the public man. Like It's funny because the shit
20:59
coin scammers. It doesn't matter if you know
21:01
that the head of the Sea of the head of this huge exchange that
21:04
went public. They're still doing the same
21:06
thing. That's smaller shit coin,
21:08
stammers are doing right there. Steer dumping their shit,
21:12
whether it's coinbase coins, or whether it's developer coins, on
21:16
to the public, I bet you Brian Armstrong is using that to buy
21:19
Bitcoin. Anyways.
21:20
Alex, what are your thoughts? Hey man.
21:23
I think stocks are shit coins to I'm with you.
21:27
I don't I don't like coinbase. I don't trust going Bates.
21:29
I haven't used it. It was I want to say it was
21:32
great in the beginning, but it wasn't great in the beginning.
21:34
It led me astray had me by and all kinds of weird shit like
21:37
years ago. Quick story about coinbase.
21:41
Someone started a rumor that I was Brian Armstrong at the
21:44
Bitcoin 2022 conference. So I got approached by like
21:47
between 7 and 10 people like really hounding me for
21:50
interviews like Brian, Brian please.
21:52
Like talk and next time, I'm not saying no, I'm going to take the
21:55
interview and tell him. We're selling everything.
21:56
We're going Bitcoin. Only, dude, I mean, you don't,
22:02
you look like him in terms of your bulbs, but other than that,
22:04
you don't really look like him. I know, I don't get it.
22:06
I need to bring I need to like lean into it more, but if you
22:11
played the role people would definitely believe it.
22:13
Like if you played the role like, you know, just put a suit
22:16
on like, you know, that, yeah. Kind of like an alien.
22:19
Yeah. For sure.
22:23
Anyways, op idea. Thought so go ahead Alex Arias
22:26
infinite. I didn't realize your I guess in
22:28
all fairness. Yeah, I guess in all fairness
22:30
like one more thing. It's, I mean, I do I work for a
22:32
bigger company not nearly as big as coinbase when we have like
22:35
100 employees or so, but you know, we're feeling the bear
22:38
Market, everybody is so I would expect more I don't know
22:42
tightness to come down on the whole industry and people are
22:45
going to lose employees and it's sad.
22:47
But it is what it is, man. I hope that those employees that
22:50
were off. I was this corn base who offered
22:51
people jobs and then took away the jobs before they started
22:55
after they quit their previous jobs.
22:56
Yeah I hope those all those people find work in the real
22:59
Bitcoin industry which is not and shit.
23:01
Coin casinos but in Bitcoin only companies So Opti, what are your
23:07
thoughts on the coinbase? Another coinbase disaster?
23:11
So many disasters, are going businesses here?
23:14
Yeah, well, I was going to start off with that.
23:16
You know, we've been reporting on this for sense.
23:20
We started seeing signs. And man, I don't want to say
23:27
there's trouble in Paradise for coinbase because that would be
23:31
bad for all of us here because of coinbase.
23:33
Crash guys. It's going to make all of us,
23:35
look real bad. So I'm hoping that they were a
23:39
lot smarter than all, this bad news is portraying them to be,
23:44
but as we've seen this bear Market, there's been a lot of
23:47
companies that got bailed out recently.
23:49
And guys, like I said, if coinbase happens to be one of
23:52
these people man, it's going to be really ugly for all of us and
23:57
the shit Corners really are bringing those down with regards
24:00
to them. Fucking everything up, excuse
24:02
my, French Nico, another Point though, I think it was
24:06
yesterday, or maybe it was this morning, but by an ant has also
24:09
passed coinbase on one of the bigger exchanges now.
24:13
So not only are they losing, you know, their customers, they need
24:18
to downsize, but they're losing market share and they've been
24:21
losing market, share to FTX and all these other companies.
24:24
So, guys, again, I said it before and I'll say it again, we
24:29
are in the Bitcoin space do not kill the Golden Goose, say
24:33
Bitcoin like a And say it with your chest.
24:36
Guys we are here for the Bitcoin Revolution.
24:38
Stop shit coining. It's bad for you can't spot on
24:43
up to you. All right last article before we
24:45
move on to the fail as change of tune, this is really surprising.
24:50
Is by Reuters, let's check out what it has to say.
24:53
Consumer Focus digital tokens issued by private companies,
24:56
could be better. That Central Bank issued tokens
25:00
assuming the companies can be regulated appropriately, the
25:03
Austrian of the sky. Australian.
25:05
Central Bank Governors had on Sunday, how long until this
25:07
person suicides themself Philippe low was speaking.
25:12
In a panel discussion at the G20 Financial officials meeting in
25:15
Indonesia, that was streamed online at the same discussion,
25:18
the Hong Kong monetary Authority.
25:20
Chief said greater scrutiny of such tokens could help reduce
25:24
the risk from decentralized fantasy which we all know is
25:26
really see, Fi not defy. Anyways this is partly in
25:30
response to the development of so-called stable coins privately
25:34
issued to Can such as tether USD, see, whose value is pegged
25:37
to have the traditional asset before you guys get too excited,
25:40
this is why he's saying it. If these tokens are going to be
25:43
used widely by the community, they're going to be, they're
25:46
going to need to be backed by the state or regulated just as
25:51
re-regulate Bank deposits. So yeah, what's interesting
25:56
though? A couple things is this a lot of
25:58
noise, okay, a couple things. First of all, there's obviously
26:01
debate, not all Bankers, believe Central Bank digital currencies.
26:05
And why don't they believe that? Here's the pickle that they're
26:08
in. If they do full Central Bank,
26:11
digital currencies. Retail Banks commercial banks
26:15
are no longer necessary. Why not?
26:18
Just have an account directly with your central bank, right?
26:21
So obviously the retail Banks right are obviously they're you
26:25
know they have a lot of you know money to donate to politicians,
26:28
they're going to be fighting back, right?
26:30
And that part of the article that said oh you know these were
26:33
introduced Because of stable coins and Bitcoin and all that,
26:37
that's bullshit. They literally introduce them
26:41
because of Bitcoins specifically.
26:44
And one last thing with the stable coins, stable coins,
26:47
offer false Financial sovereignty.
26:51
Remember if your money's in tether, if your money's in the
26:53
u.s. d.c. u.s. DC and tether could still freeze
26:56
it, they might not be able to seize it like in the old system
27:01
but they could still freeze your money and Bitcoin because it's a
27:04
truly A decentralized system, no one could freeze it and no one
27:08
can seize it, right? So I think a lot of people are
27:10
going to learn those lessons. I think the people that got
27:12
burnt by the Luna, you know mishap I guarantee you that some
27:17
of them are only Bitcoin because of that experience, it's only
27:20
when shit hits the fan. You burn yourself on the stove
27:24
that you really start to feel or understand the Bennett's.
27:27
It benefits of a truly decentralized cryptocurrency in
27:30
the only one that exists is Bitcoin.
27:32
Anyways. Alex what are your thoughts?
27:34
I think you hit it spot-on. I mean I think you know pick one
27:37
is the only solution these are. It's kind of like picking the
27:39
lesser of two evils to which I would just kind of turn a blind
27:42
eye and say, yo if you guys want to mess around with that stuff,
27:45
go get burned, but that's what leads to surveillance State
27:48
capitalism that is not a free market.
27:51
I'm not interested in Touching any of that.
27:53
I will not be put in any value in U STC or tether.
27:56
It's all in Bitcoin. Amen.
27:59
Opti, hit it, bro. Man, guys.
28:02
Just buy. And like who wants to be a part
28:06
of the panopticon that these guys are Shilling?
28:08
You like don't fall for the narrative that this digital
28:12
currency is going to be for your benefit.
28:14
We know that it's the opposite. It's to control you guys opt-out
28:19
buy Bitcoin. It's really this simple.
28:23
Amen. Anyways Opti is time for the
28:26
daily fail brought to you by Swan Bitcoin.com and it's a
28:31
Bitcoin stacking app by Pull-Ups.
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It's for plebs. So on is the best way to build
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your Bitcoin stack with automated Bitcoin savings plans
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and instant purchases serving clients of any size 10 dollars
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to ten million dollars. Alright guys I am here to do the
28:48
fail and it just looks like this three arrows capital is going to
28:56
continue to give us fail opportunities.
28:59
So in the news we have this headline, three arrows.
29:04
Little co-founder Files 5 million dollar claim against own
29:08
firm while on the run. So we reported on this a while
29:12
ago, it seems that Zuzu one of the co-creators of three arrows
29:18
Capital has been missing. But apparently he had enough
29:22
time to file a claim to get five million dollars back from his
29:27
insolvent hedge fund. But I don't think that that is
29:32
the main fail. There's Obviously, part of the
29:35
failed, but the main fail in my opinion, is back to the idea of
29:41
this crypto contagion going on in the market guys.
29:46
All of these companies got over-leveraged and that would be
29:49
bad in and of itself that they got over-leveraged and they
29:53
didn't stay humble, and they're getting wrecked when the price
29:57
dumps, but that would only be part of the issue.
30:01
The main issue is that here. As we And see all these
30:05
companies got over leveraged with each other and they're all
30:09
in bed together and they're literally taking out debt from
30:13
one company to pay another company and then taking that
30:16
dead out to pay back the other company and it's just one giant
30:19
shit show going on over here, guys.
30:21
So look at some of these companies that are a part of
30:24
this claim and the total amount of claim on three arrows
30:30
Capital, as you can see is 2.8 billion dollars.
30:33
So, I wonder how much will be left over once they take
30:39
everything. So the companies here is digital
30:41
currency group Voyager, D Finance Celsius blot fi Galaxy
30:45
digital bit. Go I'll Garand.
30:49
And as I said, a total claim of 2.8 billion dollars with one of
30:54
the main claims being 3ac limited fun.
30:58
And guys, I'm a, I'm a left bell curve, Bitcoin or so.
31:04
What does it mean to lay claim on something guys?
31:06
It's to assert that one has the legal or property right to own
31:10
or possess this guy's. So they're trying to take back,
31:14
whatever they can because they are incredibly wrecked and then
31:18
just to make things worse. As I was telling you, these
31:22
companies are over leveraged one upon each other and as you can
31:26
see, Genesis parent company of digital currency group files for
31:31
1.2 billion, dollar claim against three arrows. as capital
31:34
guys like It's just getting worse and worse.
31:38
Like, how bad of debt? Can we all get into to be
31:43
extremely bullish on bitcoin? So they file 1.2 billion
31:46
dollars. Most of this is just the idea
31:49
that the investors are trying to get their money back guys.
31:52
And I say all that, just to tell you guys, what we tell you guys,
31:56
always stay humble Stacks at because these people don't care
31:59
about your Bitcoin. They're trying to take your
32:02
Bitcoin there over-leveraged, don't give people your To do
32:06
risky, things with that bisque Bitcoin because as you will see,
32:10
you will never get that Bitcoin bat.
32:12
And this is just one example, of all the contagion and stuff
32:16
going on in the market. But now we have the proof that
32:19
they were all embedded together. They got over-leveraged and the
32:23
market is feeling that pain. So again, as I said with
32:27
coinbase guys, these shit Corners bring us down.
32:30
All this risky stuff is why we were in this pain.
32:33
Everyone got way too bullish. Hybrid.
32:36
We all thought were going to the moon and we didn't assess our
32:40
risk. And this is the situation we're
32:42
in guys. Stay humble Stacks at make sure
32:45
you survive this bear Market, because who knows how long it
32:49
will be down, guys, just make sure your Bitcoins in cold
32:52
storage and live life guys, man, get off Twitter.
32:56
Go do something Nika, the hutch. Yeah, dude, it's totally a
33:01
freaking disaster. It's a giant cluster.
33:04
Fuck. Whoa.
33:05
Is that light? Yeah is lightening without
33:07
thunder storm as crazy. I heard that from here.
33:11
Yeah, I know it's a total cluster.
33:12
Fuck there was mining companies that were getting loans from
33:16
those companies to and the mining companies were using
33:19
minors as collateral. That's absolutely insane.
33:23
That is total clown world. This is just total degeneracy.
33:27
It's a continuation of the Fiat system.
33:29
That's what crypto is. It's like the Fiat system x,
33:32
100, right. So, am I surprised that they all
33:35
got in bed? Each other.
33:36
And they just you just borrowed from each other and this is no.
33:39
And it's exactly what you said Opti.
33:41
They all thought Bitcoin was going to go to the Moon forever.
33:44
They all thought they were good and then when shit hits the fan
33:47
people start, you know, they start stopping withdraws
33:51
Celsius, just just filed for bankruptcy.
33:55
And the type of bankruptcy that they filed for was a bankruptcy
33:59
where their investors would be made whole first before their
34:02
customers. Like, it's so fucked up, these
34:05
people don't I care about you and to use Odell's famous line.
34:08
All you got to do, stay humble, Stacks ads, take it into cold
34:12
storage and this won't happen to you.
34:15
Anyways. Alex, what are your thoughts?
34:18
Lot of thoughts. I've been deep diving on funds,
34:20
man. I'm thinking about my own like
34:22
launching a Bitcoin, Focus fund on bitcoin, only companies that
34:25
do not fuck with leverage. Because the way that I see it
34:28
like 90 plus percent of the world's capital is moving
34:31
through these funds, which by the way, you don't need a
34:33
fucking license to start up. You know?
34:35
There's there's they're very unregulated.
34:40
Leverage and you know getting in bed with these shit coin, casino
34:44
Ponzi schemes is what sinking all these businesses.
34:47
So it's just like steer clear away from him.
34:49
Like you said that the clearest path, the simplest path is the
34:53
truest just just buy Bitcoin, Keep It In Cold Storage.
34:55
If you're hungry for more go build go raise more cash.
34:59
Get your cash inflows going and buy more Bitcoin.
35:02
You don't need to mess around with this stuff.
35:04
Absolutely, could not have said it better myself.
35:07
Anyways, Opti you got another fail.
35:09
Yes sir let's do it right. So I saw this and I just I
35:17
thought it was absolutely hilarious because you guys know
35:21
my position my heuristic is if it's not Bitcoin it's a shit
35:26
coin and stay away from it but but I know there's a lot of
35:31
people still out there. Wandering the difference between
35:34
Bitcoin shit claim. Well financed has the dab.
35:39
For you guys, as you can see, dat Bay is an upcoming dap and
35:44
it screams the level of risk on new shit coin projects.
35:50
So as you can see, if you're looking for web three projects
35:54
and you need to learn more and invest in and you're spending
35:58
too much time and effort trying to find early stage projects and
36:02
missing out on great investment opportunities.
36:06
Well, we have the DAP for you. The DAP Bay Is easily screen,
36:11
web three projects and eliminate, the above issues.
36:14
So they created a dab, a smart contract on the by Nance chain,
36:20
what's it B&B chain? I forget what it stands for.
36:23
But anyways, using Market data dattebayo allows, the BMB chain
36:27
Community to shortlist and ranked the best recently.
36:31
Lot launch projects such as game Phi, D, Phi, ending and FTS and
36:35
others. And due to this red alarm
36:38
feature guides, you can A one step ahead of scammers.
36:41
The system warns in real time of potential risk associated, with
36:45
these projects, allowing you to make better informed decisions,
36:50
guys, they are here for your safety.
36:52
They bringing you products to the market, that make sure you
36:56
don't buy scams using the latest market trends and the latest
37:02
project projections. As you can see, it's all based
37:06
on Market data with fastest user growth and best.
37:09
Forming tokens and trending rake.
37:11
And guys, I'm not even gonna get full through the project because
37:15
as, you know, all this shit coins is garbage, the fact that
37:22
they are using this smart contract be and be chained to
37:26
make it seem. Like they are giving you the
37:29
correct and the most informative decision.
37:33
So that you don't get scammed out of your Bitcoin is literally
37:38
like a slap in the face. This guy is it just shows you
37:41
how naive they think you are that 0 because we're giving you
37:44
this Market data you will make a good decision and not scam
37:49
yourself. It's like straight up psychology
37:53
reverse psychology 101. It's like I'm going to scam you
37:58
but I'm going to give you the tools so you don't get scammed
38:02
and people still fall for this guy's so I know we're a broken
38:06
record but just stay focused on bitcoin Bitcoin.
38:12
Only education is what will help you survive this.
38:15
You don't need this smart change smart contract Market data, to
38:20
tell you that these shit coins are scams, because as we've been
38:24
showing you day in and day out, these shit Corners know that
38:28
they are scamming people. They base all their projects on
38:32
Ponzi na makes and experimentation to make it okay
38:36
for them to scam you out of your Bitcoin guys.
38:39
Stay humble, stack sets, enjoy your life.
38:43
Bitcoin won't help you survive. This great reset because we are
38:49
pricing the world in satoshi's guys and they just don't know.
38:52
It yet anyways, Nico McShane. What are you guys thinking?
38:55
What's the second best optimist? What's the second best?
38:59
The reason our second-best get, dude, look the DAP the thing
39:08
like it's just so much bullshit. You know, they're all designed
39:12
to, you know, convince you to part ways with your Bitcoin stay
39:15
away from it doesn't need to be a token like it just doesn't,
39:20
you know, and I think it's just it's like it's trying to justify
39:23
its existence by all these bells and whistles but there's really
39:26
nothing there under the hood, then Justin scam anyways.
39:29
Alex, what do you think? Yep 100%.
39:33
I stick to bitcoin. It looks like B&B is taking a
39:36
play out of the government's Playbook just you know
39:39
racketeering just trying to solve problems.
39:42
It creates and selling you both the problem and the solution at
39:45
the same time that's like covid-19 101 that's like the US
39:49
government. That's crazy.
39:50
Yeah. Yeah.
39:51
Stay away from it man. I don't, I don't trust those
39:55
guys. It's crazy how I can't believe
39:57
like co-ceo after CEO how their principles just go out the
40:01
window. Do as they are able to bring in
40:03
more Capital. It's like stay true to your
40:05
principles, man. If I ever Veer off, that course,
40:07
please come at me. That is, it is not good to have
40:10
no principles just so people garbage dude.
40:13
It's totally totally fucked up. It's a scam but it's, you know,
40:18
just a humble stack SATs avoid that shit.
40:21
Even though I know it can be very alluring, especially if
40:23
you're just getting into the space.
40:25
But either learn the easy way or the hard way.
40:28
It's really up to you, but anyways, Opti, it's time for the
40:31
The daily meme review brought to you, by Citadel 21, they make
40:35
the best Bitcoin cultural scene stories articles Comics.
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By actual bitcoiners is our work for volume 10 because artwork
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for volume 11 and this is the artwork for volume 2.
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Bowling to is almost sold out because there's only a thousand
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physical copies made per volume. Your prince of Citadel 21 today.
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All right, everybody. Welcome to the Daily.
40:53
Bitcoin review review Bitcoin memes.
40:56
Memes playing a central role, not only in Bitcoin culture but
40:58
in this narrative trench warfare that we fighting, hey Hands on
41:02
the battleground of the internet against central banks and
41:04
governments. Anyways, first name by ghosts of
41:08
Becca, let's check it out. Extra extra read all about it,
41:15
and, you know, it's covering. What happened Empire filled
41:20
quits before filming Empire, in crisis, YouTube show in Ruins.
41:25
After Optimus join, Niko's nightmare.
41:28
Optimus is soundboard. Yellow set this that he started
41:35
the fight and then that's when Optimus have the thing.
41:38
And then here's Lynn and Dieter when spaces debate, so absolute.
41:42
And then, from a God, anyways, shout-out Becca, very creative.
41:47
Thank you very much, they building.
41:50
Thank you for including us. All right, next 1 by Rd when
41:53
it's shit. Coroner says your toxicity is
41:54
damaging to bitcoin you put in earplugs.
41:56
I like that. I like that.
41:57
All right, next one, this is, this is no, I Name is a shit
42:02
hole and the legendary Bitcoin Tina here is Believe The Hype I
42:07
theorem is the mother asshole from its spring chicken coins
42:11
spring say 15 being Savage. This is some signal and this is
42:15
what we tell you to stick to bitcoin because as the years go
42:18
by the top 10 always changes but you know what stays on the top
42:22
the king and the king is Bitcoin aren't the last one just quick
42:26
little video without sound right says Where do we start grandma
42:30
grandpa? Why does gas Cost.
42:32
So much me who pays attention to Global?
42:35
Geopolitical events. Just watch the video.
42:41
Pull it out all the receipts, highly accurate.
42:44
I feel like that's what happens when I'm at the dinner table
42:47
anyways. For those awesome score for this
42:50
awesome memes. I don't even know.
42:51
I don't have a score of ready. Oh yes I do.
42:54
I'm going to give it this empty Amazon Basics box.
43:00
Yeah, boom. Optimus, what would you give
43:04
those memes? Okay.
43:06
Well, in honor of Phil, I am doing trinkets so it's this
43:13
eighth inch quarter audio adapter that I use for the
43:18
spaces. Guys.
43:19
This is how we make it sound, so good for you, boom.
43:23
Alex, what would you give those memes?
43:25
Give him a gold belt grinder. That's what's got to go.
43:32
Gold grinder. You can never go wrong with
43:34
that. Anyways guys, we want to know.
43:35
If you agree with our scores, you disagree, let us know down
43:38
in the comment section. Make sure to subscribe to us on
43:40
alternative video platforms for obvious reasons like Rumble.com,
43:44
my personal favorite Bitcoin tv.com.
43:47
They don't censor because Bitcoin TV and make sure to join
43:50
our telegram group where you could link us some Bitcoin memes
43:53
to review its really easy. All you got to do is click the
43:56
link down below and if you're listening to the audio version
44:00
of this show, make sure. To stay until after the show
44:04
where our friends at swamp Bitcoin and optimists are going
44:07
to host a spaces together. It's going to be awesome.
44:10
Shane might make it to this would be a party.
44:12
Definitely want to stay many ways.
44:14
Optimus, there's an open source software least today wanting to
44:16
everybody about it. Software release, brought to you
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by Cipher safe, you guys store your seed phrase, right?
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Either store it you the option to default option that comes
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with Hardware wallets? Is paper, don't do that.
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What if there's a flood? What if there's a fire?
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What if there's unforeseen circumstances you definitely
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want to store your seed in metal and Cipher?
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This offer of released for today is Bitcoin pay server.
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Version 1.6.2 0, it's a payment user interface, it's open source
45:09
and enables you. If you have a website you plug
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in the Bitcoin, pay server, you get paid directly in Bitcoin
45:16
because it's not centralized, because it's open source because
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it's a software, there's no kyc, right?
45:21
It's just directly to the vendor, it's really awesome.
45:24
I think it's one of the most important projects in the space.
45:27
Of course, make sure to subscribe to us on alternative
45:30
video or audio platform. Not that alternate, make sure to
45:33
subscribe to us on alternative video blog from.
45:35
Sorry, this is the first time I'm doing this.
45:37
Usually filled does this like rumbled?
45:39
No, not Rumble, anchor, Apple podcast, Fountain.
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All of that. Good stuff.
45:44
Also want to give a very special shout-out to our clothing.
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definitely want to check it out. Also check out our special guest
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Alex McShane. He is the head of multimedia a
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Bitcoin magazine and he's the head of programming at the
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Bitcoin conference. Anyways guys, that was our show.
46:23
If you enjoyed the show, you know, to do Smith continued,
46:26
during the bitcoin news from the plate plate perspective, the
46:29
catastrophic fails from the same perspective, the culture, the
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Means all of that. Definitely consider subscribing
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what's the second best?