Latest / Simply Bitcoin / Bitcoin Game Theory: Did Panama Just Become A Game Changer? | EP 476

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Bitcoin Game Theory: Did Panama Just Become A Game Changer? | EP 476 · Simply Bitcoin

0:04
We are back. It is simply Bitcoin.
0:06
We break down the news. The daily fail mean review,
0:09
software releases, Hardware, releases and the plebiscites.
0:13
That's right and joining us today.
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Very special guest we've got Eric, who is a fellow Bitcoin
0:20
ER, and an open-source Bitcoin, ux designer.
0:24
That's right. It's got somebody who helps make
0:26
the ux experience better Eric. What's going on?
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Thanks man. Yeah just just chilling man.
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I'm out here in Sweden so it's like 11:00 p.m. but yeah man,
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I'm just just yeah just hanging excited be on the show and when
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I'm not you know surfing Twitter I'm just you know designer for
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Bitcoin awesome man. Well look we're going to try to.
0:46
We're gonna try to get you to you know let you go to bed soon
0:48
as possible. But first you're gonna come down
0:50
this rabbit hole is with us. We are diving into the numbers,
0:54
let's do it. People number two brought to you
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by not all they make some of the best.
0:59
Bitcoin nodes like the novel Dojo run, your own version of
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Bitcoin core run. Lightning Network all in the
1:05
comfort of your own home. Remember guys, if you don't run
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your own node, you're using someone else's and that's bad
1:11
for privacy. So get yourself a novel today at
1:14
the time of this recording, the block height of seven hundred
1:16
thirty four thousand, the Bitcoin price thirty nine
1:18
thousand nine hundred seventy chain rewrite day 710.
1:22
Total public lightning capacity, 3660 9.80 for Moscow, time 25
1:28
vote, Oh two blocks to The Happening 106,000 and the
1:32
samurai Whirlpool unspent capacity, Samurai Whirlpool is a
1:36
coin or collaborative spend. It is not a mixing service and
1:41
the unspent capacity in that pool is 4508 thought 62.
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I keep going higher the numbers, the numbers but the Fiat Kaka
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price is frozen and stay frozen in time what the hell's it doing
1:55
man? Like it's having aneurysms every
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day and then it comes back. It's So weird.
1:59
It's these fake pumps. These fake dumps, these random
2:01
candles. It's like all of a sudden like I
2:03
want to buy Bitcoin I not anymore no it is Bitcoin has
2:07
become the new stable coin it's Bitcoin the stable coin so fuck
2:13
you. Everyone says is volatile maybe
2:17
maybe not to me Bitcoins like the most conservative and safe
2:20
investment. I could think of when like I
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don't like my friends that like I'm in big when they're just
2:24
like well one man that's that's crazy.
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That's a risky but I guess I'm just like so So for now I'm just
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like dude. I think Bitcoin is the most like
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long-term stay one conservative than you can ever put your money
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and by far I was totally making a joke but absolutely.
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Yeah, I agree. And we're but it don't, because
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the thing is, here's the scam, right?
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The scam is that, they tell you right, the did it right?
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Because, you know, the, the old Trope, the criticism right
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there. You always hear.
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It's so volatile. So volatile.
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So like a kind of troll him a little bit.
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Eric I was like, oh, Bitcoins and you stable coin you Because
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it's been, yeah, steady at 40K for a long time.
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But here's the thing, right? So Fiat, right?
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They'll say it's stable, but you know, the target inflation rate.
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Let's, let's, let's say it's an ideal world and the FED has
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everything under control, which they totally don't.
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And Fiats inflation rates at 2%, right?
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Fine. But two percent.
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Okay, fine. It's like, you have a hundred
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dollars next year. You have $98?
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Right Bitcoin on the other hand. Yeah, it might go up and down a
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lot. Not.
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But it goes up and down and the up Direction.
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Yeah, it's like up and to the right in the hospital.
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The right. So I mean like it's like with
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Fiat it's like a shtetl to shtetl trickle but it's going to
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0, right? Like it's it like it might be 2%
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this year but you know that next year that shit ain't going up
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like that. It's going down.
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Like at least Bitcoin. Yeah.
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It's volatile some years are going to suck.
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But in the aggregate right? No one's ever lost a dime and
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Bitcoin if you've held it for four years, even if you bought a
3:57
peak, hi. If you've held it for four years
4:00
you've made money, right? If you held Fiat for four years,
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you are guaranteed to lose money by Design.
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In fact, if you're not losing money, it's bad for them, right?
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Like deflation, like, they all freak out.
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Anyways. Okay, so it Phil.
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It's a feature Nico. And it's a feature like you.
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That's right. Our poverty is a feature of the
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money. Hmm, right?
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That it makes us poor. It's fantastic.
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It created all kinds of businesses.
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Right? If our Money wasn't so garbage.
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What you know, why would you need?
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Why would you need? As many, don't get me wrong.
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You would still have people doing stocks and, and, and
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trading and stuff like that. But would you have so many?
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Would you have so much volume? They're probably not if people
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could just hold their money. The so there you go.
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Right over the money. Go ahead.
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Oh sorry, those were the same, huh?
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We're both fried. Okay, go go.
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The over financialization. Absolutely, I completely agree.
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Anyways, moving on, the thing that I want to talk about today
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during the number section. Quick update on the hash rate,
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hash rate makes another all-time high here, is the infamous China
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banned where the Chinese Communist party Band Bitcoin
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mining within its borders, right?
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You know what the excuse they use for environmental reasons
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but we all know that's bullshit and the slow trickle up and we
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just broke a new All-time high according to this estimate or
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there's no way to know the hash rate.
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It's an estimated every hash rate calculator or dashboard
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uses a different calculation, but according to a couple,
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right? And this is this one, I think is
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the easiest to read visually for, for video.
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Yv video reasons, 220, 220. Tara hashes just broke a new
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all-time high and it really Highlights the power of Bitcoins
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incentives. Right, without any Central
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party, you know? Making those miners move, right.
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No CEO. No government, no nothing,
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right? They moved on their own, accord,
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out of the pursuit of profit, right?
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Every single day, those miners weren't plugged in people were
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losing money, right? And then of course, you
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incorporate bit cold, Bitcoins difficulty adjustment, right?
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It's it creates a huge incentive, right?
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So there you have tens of millions, of dollars of
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machines, relocating from China, the centralizing, the hash rate
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going all over the world, specifically Texas and I know a
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lot went to Canada as well, and that's where we are today, man.
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So they what didn't kill Bitcoin?
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Made the honey badger stronger, right?
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And there you go, dude. In less than a year, really
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write another all-time high hash rate makes another all-time
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high. That is absolutely crazy.
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And of course Are the hash rate, theoretically the harder Bitcoin
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becomes to computationally attack right?
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Or the more expensive, it becomes better set, right?
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So, absolutely bullish. And you know, of course this
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isn't a perfect, but usually, what I've tended to notice in
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the past, I don't know if this is broken or not.
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Right? Is usually when the hash rate
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reaches an all-time high, the Fiat price tends to follow but
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there's usually a little bit of a lag.
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Let's see if that comes true. I believe it will.
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But again, that's speculation. We don't spect it on.
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The show Bill. What are your thoughts on hash
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rate making another all-time high.
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Check this out, just so happened.
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It just so happened that I stumbled across this terrible.
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Terrible Bitcoin analysts that was calling 5K Bitcoin, right?
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And he's got the fancy charts up.
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Be showing you the arrows that going down.
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They're going to the lines. Okay.
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Who cares about this stuff, right?
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It's also freaking he's moving air.
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Stay with nothing anyways. Okay, so the point is right.
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We zoom out this guy's calling for 5K Bitcoin.
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This has nothing To do with the hash rate and that's the point
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all of these people, all of these businesses, they don't
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give a shit. They're not listening to the
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noise their building and they're adding to security to the Vic
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coin Network. So it's just, it's just so
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funny. How we have these two, very
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different completely polar signals and it just the hash
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rate is much more of a quality signal.
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Yep, I like it. I completely agree.
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Anyways. Eric, what are your thoughts on
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the Chinese Communists? Failing to kill Bitcoin.
8:29
Yeah, not their first battle. The you know what, something
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interesting that I heard about the hash rate about the
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difficult adjustment. And I'm not sure if this is
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true. But someone said that it's,
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there's actually a limit to how much it can correct.
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I think they said that it's 50%. You guys know if that's true.
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It's like the hash rate per difficulty adjustment.
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Like, if 90% of the hash is became unplugged, it won't just
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correct. All the way down there.
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It hits like a limit. Know that sometimes somebody
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said that on on clubhouse and it blew my mind, but I haven't had
8:56
time to action research. I I don't know.
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I mean, I wouldn't I don't know, I know that for example, that
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and let me just pull it up. So you guys understand?
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Because it's going to be hard to visualize for this.
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For example, this hash rate drop, which was immense,
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honestly, like, it took us back to 2019 levels this cause the
9:21
largest difficulty adjustment Bitcoins history.
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It was 27.9% or 28.9%. It was the Just and Bitcoins
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history. So it would take a very large
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drop in the hash rate for that to happen, to be honest.
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So I don't know. We're gonna have to do some
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digging on that though. Yeah I definitely want to know
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like I'm thinking Bitcoin has a built-in circuit breaker for the
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hash, right? I mean that's actually pretty
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smart, that's pretty cool but I'd have to find out what the
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use cases and how that came about.
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Yeah. And if you're a point with the
9:52
use case, if you're a pleb that knows this answer.
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And I know one of you is going to somebody let us know down in
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the comment. Yeah, let me know and come
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spewing bullshitter if that's if that's true.
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I don't yet I just I don't know, right?
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But it's very interesting. You always find out something
10:06
about you always find out something new about Bitcoin, so
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very cool stuff. Anyways, major fail for the
10:12
Communists. Major win for Bitcoin, but
10:15
anyways Phil it's time for the daily fail.
10:18
Brought to you by Ember app. Check them out.
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automation. The link is down below ammo,
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smart ways that sense. That's right.
10:36
Nico pointed out my failure yesterday to show this as the
10:39
fail, but I told him, I told him that we were going to have this
10:41
tomorrow and we do and it's great.
10:43
We have it for Eric, our guests. We love the economic Forum.
10:47
They are the number one cheerleaders of Bitcoin.
10:51
They do the best advertising they have so many eyeballs
10:53
looking at it. It is fantastic.
10:56
Anyways. Alright this video This video is
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going to tell us why we need to change Bitcoin and it is
11:02
sponsored by the world economic Forum actually a fellow Bitcoin,
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ER, pointed out. They wanted to know if this was
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satire or not. No, this is not satire.
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This is really from the world economic Forum.
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Let's take a look at this tweet before we hit play a change in
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the way. B cone is coded.
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Could almost eliminate its environmental impact.
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If you only change the code, Only it pronounce it correctly,
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dude. Obviously Bitcoin.
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You have to say it in Klaus, has accent.
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Oh, a change in the way. Bitcoin is coded, could almost
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eliminate its environmental impact and then it is it will
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enable the great reset slaves, we will all be slaves, but I'm
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saying that as Klaus, he's not saying we damn it, stupid
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inclusion. Okay, here we go.
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Let's hit play. Let's watch this.
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Okay, we're not gonna watch the whole thing because all they're
12:33
going to do is tell us a whole bunch of stuff about Bitcoin we
12:35
already. I'm sorry.
12:37
I think we get the fund by now. Yeah, exactly, right.
12:41
We get the fund by now. So, so look.
12:44
Okay, before we continue with this, you saw what they said
12:47
about Bitcoins energy usage, we understand exactly what they're
12:50
doing with this. I just wanted to point out from
12:53
The Watcher, dot Guru account. This, just in Bitcoin Network,
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electricity usage dropped by 25% in q1 2022.
13:01
Compared to the same period last year, according to a report by
13:04
The BMC. So, That is very interesting and
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you know that the world economic Forum isn't paying attention to
13:13
that because again, they're spinning the same narrative,
13:15
they spun with the internet. The internet is going to use all
13:17
the electricity in the world. All the energy was the same
13:19
thing with Bitcoin, Bitcoin is going to destroy the world and
13:21
it's going to boil the oceans. But the other point of this, I
13:25
think what people are really maybe not seeing, and this is
13:29
what I started to notice. As I was watching, this is that
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they know, they know for sure they are Being us that they
13:37
can't beat Bitcoin. They can't do it.
13:41
They know that all their shit coins aren't going to work.
13:44
So what can they do now? They have to socially attack.
13:47
Bitcoin, don't get me wrong, they can definitely get all of
13:49
the countries to try an outlaw at, then do all that stuff.
13:52
And sure it's going to affect the hash rate caused the price
13:53
to plummet make it. So people like us at can stack
13:56
even more, okay, fine. But at the end of the day, they
13:59
won't be able to stop it. So the only thing they can do
14:02
now is coerce it. And this is what they're doing.
14:06
They they tried with the shit coins, but they saw the
14:08
resistance, trust me. If all of a sudden, they started
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to see, great Applause for their etherium and their cell.
14:13
Oh, and all this garbage, they would have been thrilled.
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That's not what happened? Anyways, Miko yeah, dude, spot
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on and I just want to, you know, I want to point out the
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importance of that to eat because it got ratioed, write
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the comment section. They just absolutely blew out of
14:30
the water. We even had.
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We had some pretty big Bitcoin, Heavy Hitters in there.
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Including the Chad sailor and he even commented.
14:39
So yeah, you know, and this is the importance of Bitcoin
14:43
Twitter, right? It allows this, this narrative
14:46
battle, right? They might be releasing this
14:50
propaganda piece, but the comment section open is open,
14:54
right? So, all it takes is just people
14:56
to scroll down in the comment section.
14:57
Why did this get ratioed? And just people debunking this
15:01
already debunked information. I don't know how many times,
15:04
right? And Of course you know they're
15:06
trying to Gaslight you they're trying to you know nail down
15:09
those those hitting points. Bitcoin uses more cut, more
15:12
electricity in the country of Denmark.
15:14
We already know yes that might be true but Bitcoin is using
15:18
energy that was already going to waste.
15:20
That's why it's so treat cheap stranded energy, right?
15:24
If it wasn't stranded then it would be too expensive but you
15:28
can't discount how these propaganda the social attacks
15:32
have been successful in some places.
15:34
The European Union was on the verge of banning Bitcoins proof
15:38
of work. And the New York State Assembly,
15:41
which is going to set a precedent.
15:43
At least for the blue states in the United States is almost.
15:48
I think that the I think they has to pass the Senate but
15:51
they're they're going to ban proof of work within within the
15:54
New York state borders for the next two years or it's basically
15:57
forever, right? So yeah, this is a, you know, it
16:01
and again, I think all these attacks are insincere.
16:04
I think all these people People know exactly what they're doing,
16:06
they know it's not about the environment, right?
16:08
If it was about the environment, they would be allowing more
16:11
Bitcoin because Bitcoin is actually going to facilitate
16:15
the, you know, the development of green energies which would
16:18
not be profitable without government subsidies.
16:21
Bitcoin, allows them to be profitable, right?
16:24
So yeah, it's just, it's a bunch of bullshit, right?
16:28
But I think these people are going to try really hard but man
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they must be shaking right now. So the car Central African
16:35
Republic, you have El Salvador, you have another country that
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kind of made it legal tender. We're going to talk about that
16:41
today, right? So the dominoes are starting to
16:44
fall right, at these people must be shaken, right?
16:48
Because how are you going to stop that, right?
16:51
Anyways, I mean, it's really, really interesting to see how
16:53
this plays out. Eric what are your thoughts on
16:56
Klaus the Klaus social attacks? It's it's just so ill-informed
17:02
like to me, the funniest thing is just that you know, Bitcoin
17:04
is Is open source software so you can change the code at any
17:07
time University people can. So like it's like on the on the
17:10
merits of your idea if you truly can make a decentralized
17:14
currency that I can fills, all the needs of Bitcoin and uses
17:16
less electricity and it like has all the merits of it and you
17:20
know that'd be great, that'd be fantastic Fork, the code and do
17:23
it. If it's if your idea is strong
17:24
enough then you know, the market will reward you.
17:28
But that not only that no one has figured it out, that's the
17:30
problem, right? Is that.
17:32
That's so. Do you sell a lot of signal
17:34
there, right there. There was a there was a lead
17:36
there, they want to use government coercion to try to
17:40
force you to, to use something that the free market wouldn't
17:45
use on its own accord. That's the terrifying part.
17:48
They know that they know they could for kit, but that's not at
17:52
all what they're trying to advertise their saying.
17:54
Listen governments, you have to coerce these people in order to
17:59
force this code change, that we are advocating for, which is
18:03
absolutely terrifying. All right, let's get ready.
18:08
Let's get ready because it's some point.
18:10
We know I'm sorry, I'm just going to say it, right?
18:13
Like one of the devs, right? 101 of the deaths for Bitcoin
18:17
core any of the devs, a group of devs, who knows?
18:20
Like it's like, that's the like it's a social attack, right?
18:23
It's coercion. This is, this is big money.
18:26
This is bigger than any of us can imagine.
18:28
We're talking about the world, right?
18:29
We're talking about the bank of international settlements are
18:31
talking about the IMF. Yeah, I mean, Don't get me wrong
18:35
but like they're not just gonna. Anyways, it's gonna it's about
18:38
to get very, very dystopian and black mirror.
18:42
And yeah, we're covering it with a lot of these people.
18:46
Man, I worked on this is like so on my Fiat job I work at on a
18:50
blockchain team and it's a lot of like our three quarter and my
18:53
hyper lender just like total bullshit and a lot of them are
18:56
like convinced that like this will work is like an
18:58
environmental disasters and I was like I sit on these fucking
19:00
meetings. I'm just like dude proof-of-work
19:02
is the Innovation like that's the only Fucking like valid, use
19:06
case for a blockchain is decentralized money and it works
19:08
because of proof of work and let you guys just don't fucking get
19:11
that right now. They don't understand.
19:13
It's like proof of stake. It's like they might as well
19:15
just use a database, right? Like at that point, like and
19:17
there are also advocating for a system that etherium hasn't even
19:21
implemented yet. Like they're advocating for
19:23
something that does not exist, right?
19:25
It's like yeah, it's just, it's absolute lunacy it and this
19:30
really makes me believe, right? And I struggled with this and
19:33
fill actually saw me, I was like Dude, because at first, you have
19:37
to give them the benefit of the doubt, maybe they're just
19:39
morons, right? But there's just so much
19:43
evidence and things that pop up. It's like these people are doing
19:47
it because they want to control other people.
19:49
They're not doing it for the for the climate or the other
19:52
bullshit. They're doing it because Bitcoin
19:54
is the only thing because of proof of work that they cannot
19:58
influence. Right?
19:59
Phil what is the next fail? All right, let's dive into.
20:04
To this. Here we go.
20:07
It's a great it's a great. It starts with a great tweet
20:10
response from Adam back. I don't Adams had some good
20:12
takes. I mean I always has good takes
20:14
but I feel like recently he's upped his takes.
20:16
Okay, let's dive into this right here.
20:20
Then we're going to share the original, the original video,
20:23
xrp scammers who Bamboozled at Greenpeace with nonsensical
20:27
Bitcoin Fudd are citing. An undergrad class exercise to
20:32
learn publishing process as if it's a paper but makes actually
20:37
So viable claims oops. And this is actually pretty
20:41
interesting. Okay, so the tldr okay.
20:44
Is that this person didn't write the paper but he was consulted
20:48
okay. It was a two-page undergrad
20:49
class project. Teaching the writing publishing
20:52
process had nothing to do with Bitcoin, okay?
20:55
But this is what Greenpeace, okay?
20:58
And xrp is using to fund Bitcoin as an academic piece, just to
21:03
give some proper background, okay?
21:05
So let's dive into this little Video about this explanation
21:09
that he gives, here we go. And so, I ended up writing this
21:12
paper, and shopping it around to the Southwest school and the
21:18
economics Department in amongst my professors, including Maura
21:27
Camilo, doctor, Camila Mora, who wrote the famous, more at all
21:31
paper. That Greenpeace is touting.
21:34
And what a lot of people don't know, is that in fact, Maura
21:37
did, Write that paper and neither did Katie Talladega.
21:41
Who is a close friend of mine is actually written by an
21:44
undergraduate class. And it's two pages long.
21:48
And that's not really known in the conversation.
21:50
So Greenpeace and Brad Garlin, house are out there.
21:54
Touting a paper written by undergraduates that doesn't even
21:58
describe the Bitcoin Network. I may have influenced this paper
22:03
by talking to the all of the authors about Bitcoin who then
22:07
floated as an idea to this undergrad class who over the
22:11
course of a semester, you know, learns about a subject studies
22:15
and subject, right to paper, learns about the publishing
22:17
process. It's okay.
22:20
So right there, it's got nothing to do with Bitcoin.
22:23
Is that the same? Oh sorry.
22:25
Eric go ahead. Is that the same study that they
22:28
cite for like the transaction energy used to be one of the?
22:31
That's the that's the yeah. That's the infamous for
22:34
transaction. Correct.
22:35
That's the one that all the Legacy Media uses and just
22:39
another. So talk about misaligned
22:42
incentives, right? I don't know if you guys heard
22:44
that but it was an economic school.
22:47
Economics class. Right Bitcoin for Fiat
22:51
economics. It's ait's a fucking nightmare,
22:54
right? So it's like you're not
22:56
incentivised to really understand this stuff.
22:59
If you're in that situation and another aspect, whether you
23:02
believe that guy or not, right? I don't know, right?
23:05
Could just be a guy on the internet.
23:07
Talking shit. You don't know but another
23:10
aspect is look. If they're all citing a paper of
23:16
which has been debunked by many other papers, many many times,
23:20
right? As Nick Carter has pointed out
23:23
many many times, it really goes, like it really makes you
23:28
question. Are they?
23:30
Is it really? Like, I think they're using that
23:34
paper as an end as an end to as an as a as an end?
23:39
They're using it to achieve a certain goal right there.
23:42
Using it kind of Like a platform like look, this is Bitcoin is
23:46
bad. This is why check out this
23:48
paper. Check out my credentials.
23:50
I know what I'm talking about, and it's absolute bullshit.
23:55
Like it look. And it's been pretty successful.
23:58
Think about it, right? They've trained up.
24:00
They've tried to ban proof of work in Europe.
24:02
They've tried they've, they're all they are Banning proof of
24:05
work in New York state. And that paper played a major
24:09
influence in those Bannings, so you can't underestimate Whether
24:14
the credibility of the because it's been debunked, it's not a
24:17
credible paper, but you can't deny that they're using this as
24:21
a very successful social attack on bitcoin, right?
24:25
You can't deny that. So and it's all has to do with
24:28
the buzz words. It uses more electricity than
24:30
Dunbar like if you hear that and you don't really like dig into
24:33
the the nuances like that sounds pretty fucking bad.
24:37
It's like, why does it need to exist?
24:39
It uses as much country and uses most electricity as Denmark like
24:42
it's it's In bullshit, man. It's bullshit.
24:45
And I just wish that bitcoiners stopped, trying to debunk it.
24:50
And I wish you guys understood that these people are not
24:54
interested in that they're interested in attacking and
24:57
shutting Bitcoin down. It's not about, they know
25:00
they're wrong. It's like they know it's like
25:03
they're not interested in hearing how their perspective is
25:06
wrong there, they're just focused on the fact that Bitcoin
25:10
must be destroyed Bitcoin must be stopped.
25:13
There's no way to prove that even though we did find The
25:15
Smoking Gun actually fill, we have pretty fucking good
25:18
evidence member that. Remember that article by Forbes,
25:22
that European lawmakers got fucking caught with text
25:25
messages, openly advocating for a theory, a proof of stake and
25:29
openly going against Bitcoins proof of work.
25:32
So, I'm not even going to say that these people have been
25:34
caught red-handed, right? These people can't control
25:37
Bitcoin because of proof of work, right?
25:40
So they're using every single mean possible.
25:43
Tak Bitcoin, even if it means citing up, bullshit fucking
25:47
paper that perhaps was written by undergraduates.
25:51
Anyways. Eric, what are your thoughts on
25:53
this? Yes I think like it was right
25:57
Margaret pay Ezra, like gin Russo on Twitter she's like the
26:00
environment is a big winner. She had like a good kind of
26:02
point on this where like it's it might be worth going on the
26:05
offensive on their terms like getting funding putting
26:08
something that's peer-reviewed and their academic, you know, I
26:11
beat our legal jargon, whatever fucking bullshit framework, they
26:14
need, so that you can then put that in front of lawmakers and
26:17
it can have just as much weight as like this like nonsense, but
26:20
they're throwing out. I think she was trying to get
26:22
funding for that and I know like you said, like we need to Up to
26:25
bunking it. And like I kind of agree.
26:26
I think we should actually go on the offensive more but to me,
26:29
that's, that's part of it. It's just like, why not?
26:32
Like try to attack them from that angle and I think Tony
26:34
Cross is trying to do that as well, I think so.
26:38
So Gene is awesome. She's coming on the show.
26:40
I look, I think that I think these people are just not
26:44
interested in hearing it, like they're just not interested now.
26:48
They like, they're not interested, they'll totally
26:50
Gaslight. You, like, it's gotten to that
26:52
point, like, because I've seen Nick Carter go from, let me D,
26:57
and he has the credits, and he has the capability of being able
27:02
to write that goddamn academic paper, right?
27:05
With, you know, with the properly side in whatever and
27:08
these people do not give a fuck. And I've seen Nick transition
27:12
on. Twitter.
27:13
Yeah, go so jaded now go from. Hey let me academically rebuke
27:19
these things to fuck these people.
27:22
Let me just roll them, right? Yeah man look to the point that
27:26
in his fucking Twitter bio says financially illiterate
27:29
psychopath right? So and I've commented many times
27:33
I'm serious like dude like these people are not interested in
27:36
debunking, they're interested in power and Bitcoin is a threat to
27:39
that power, right? So it's like I wouldn't even
27:42
play by their rules. Al's.
27:43
Like I would just focus on building building out, mines the
27:47
centralization. That's what you have to focus on
27:50
and they can go pound sand. Like you like the Chinese
27:52
Communist Party. The same shit, bro.
27:54
It's like we are going to bed Bitcoin.
27:56
Mining just made it stronger so it's like I welcome more
28:00
attacks. Like I hope they keep going but
28:02
I think that trying to negotiate with these people is a waste of
28:06
time because that's not what they're looking for.
28:09
They're citing something that they know is disingenuous.
28:13
You said it right there. This has nothing to do with the
28:15
truth. This has everything to do with
28:17
power control the narrative and I don't know ignorance and
28:21
possibly clowns know I and my and mind you mind you, if you
28:27
guys are new to this channel, you could see Phil.
28:30
And I struggling about this specific subjects over the last
28:33
six months and me and him were going back and forth.
28:36
It's like maybe they're just naive, maybe they just Don't
28:39
they just don't know any better? No no it's gotten to a point
28:43
where it's clearly a combined attack.
28:46
Like it's like they're using the same wording Bitcoin bad proof
28:51
of stake, good and Europe, and the United States and your it's
28:54
like that isn't a coincidence that isn't a coincidence and
28:58
then to just to add a little bit more Alex Jones, he okay.
29:03
Coincidentally, right. The etherium board that one of
29:07
the board members of the etherium foundation happens to
29:10
be on the world, economic forum's blockchain initiative
29:15
and you just saw that propaganda piece by the blocked by the
29:19
world economic Forum. Like you call me a conspiracy
29:24
theorist but holy cow that is a lot of coincidences man and
29:29
there's the publication that's owned by vitalic.
29:31
Dad that Released the world economic Forum proof of stake
29:38
attack on proof-of-work paper dude, right?
29:41
That that little document with the, with the little pictures,
29:44
showing the bitcoiners as robbers, right?
29:47
Where, where robbers, but the people that are that are
29:49
stealing your value there. They're not thieves, it's all
29:52
good. Right Society.
29:53
I'm fixing it, dude. It is man.
29:57
It's analytics, is absolute expert.
29:59
But anyways, feel it's time for the daily meme review brought to
30:03
you Little 21. It's the best Bitcoin cultural
30:06
zeenat stories articles Comics by actual bitcoiners.
30:10
Every every cover has different artwork.
30:13
This is the artwork for volume 10.
30:14
It recently came out and this is volume 11, it just dropped and
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they're scarce is, only 1000 copies made per volume.
30:21
So get your physical print of Citadel 21 today before it runs
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out. Alright, everybody, Welcome to
30:26
meet mean review. But review Bitcoin memes,
30:29
because Bitcoin memes are very important and this narrative
30:33
It's Warfare. They're the very, very useful
30:36
and we'll see why in a second. Hmm.
30:39
Mysterious voice. Anyways, first mean brought To
30:42
Us by Lop hyper big quantization Panama Central, African
30:47
Republic. El Salvador very, very good meme
30:49
by Lop, moving on to the next one.
30:52
This one absolutely hilarious. By cryptography.
30:54
T praying for your shit coin to pump, but Jesus read the white
30:57
paper. Ha ha.
30:59
Ha. Next one.
31:03
It Lop poor people with entrepreneurial Spirit
31:06
government. You need a permit and license
31:08
for that ha ha. All right, next one.
31:11
All right, this is a look. So I mentioned it, well, how
31:14
Bitcoin memes that are important in this narrative narrative
31:17
battle that we're fighting. This is a good example, right?
31:21
This but Bitcoin is saving cry harder.
31:24
No, Bitcoin bad for environment were what I can't hear you.
31:30
Oh man. All right.
31:31
See look when I said We're at the point where it's not about
31:35
like, you know, talking with these people just ridicule them,
31:40
bro. It's at that point and I spun, I
31:42
referenced the ratio, not only did get ratio Don likes.
31:46
They got ratio Don retweet, so you could pretty make.
31:49
Make a good argument, that a lot of those were quote sweets, but
31:52
3559 comments. Oh, man.
31:57
But still, at least a thousand useful idiots that still liked
32:01
it. Sweet.
32:01
Anyways, moving on. Goodbye Phil's alternative
32:05
account. Copper Nixon simply Bitcoin a
32:09
prophecy foretold shout-out to the zoom and the Central African
32:14
Republic and Chad. And this isn't a joke.
32:17
The actual country above the car, is the Chad.
32:22
Anyways, moving on in Africa. We ask how Bitcoin Americans ask
32:28
why Bitcoin the wise so obvious, right money personal
32:33
Sovereignty, technology? Right?
32:35
And Bitcoin is the perfect in between there's a Japanese word
32:39
for that. Just can't think of it but yeah,
32:42
awesome, awesome memes. Especially that last one, I
32:45
always say this, I'm like dude, I've been educating a Bitcoin
32:48
for six years now and one of the things that I've always noticed
32:52
is people in Western countries are always like why does this
32:55
need to exist? Whereas in people in developing
32:58
countries are like, this is fucking amazing, a
33:01
non-government money. That can't be confiscated.
33:03
For me that is genius, right? And that is something that a lot
33:06
of Canadians actually found out in the last year.
33:09
Why something like that is so important.
33:11
So I've been teasing feel about this.
33:14
I have opened the Lucho thing, it has opens, it's right here,
33:18
but I'm not going to show it to him today.
33:20
I'm going to show him the care package that was in there.
33:25
I'm going to go one item at a time so it's gonna take him a
33:28
long time. First item is the Lucho Poletti
33:33
patch. H, that is my score for today.
33:36
What about you feel? I'm very fortunate.
33:39
I do have that patch so I don't necessarily I don't feel.
33:43
I don't feel that. I need it because I haven't.
33:46
Yeah. But do you know what?
33:47
This other stuff that? I don't know.
33:50
I don't and it's killing me. Okay, anyways, I'm going to give
33:54
it right? I've told you a million times.
33:56
I've got almost nothing left over here and I'm moving.
33:58
So I've got this fold sticker right of the spinning wheel.
34:04
It's actually really cool. Yep, Gotta Love fold app stack
34:07
and SATs while buying useless crap, it's good times.
34:11
That's a good score. Anyways, Eric what would you
34:13
give those mean? I'm giving this a solid just a
34:18
calculator colleges to calculator.
34:21
You already know. Well, if you know, you know,
34:24
that is a good score, it might be a calculator, it might not
34:27
be, who knows, very good score that a case around that
34:31
calculator. Interesting.
34:37
Anyways guys, we want to know if you agree with our scores, you
34:41
disagree, let us know down in the comment section, kamek,
34:43
kamek, kamek comment, and of course, make sure to join our
34:47
telegram group linked us. Some dank dank dank Bitcoin
34:49
means to review and make sure to subscribe to us and alternative
34:52
video platforms. Because we do talk shit about
34:54
the world economic Forum like Rumble.com, and our personal
34:57
favorite Bitcoin tv.com, they don't censor their because
35:00
Bitcoin TV. Anyways, Phil it's time for bed.
35:03
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35:31
Alright everybody so Very, very big deal.
35:35
I mean, so it's not legal tender.
35:38
I would make the argument that this is better than legal tender
35:42
because essentially what Panama is doing is that they're
35:46
legalizing Bitcoin within its borders and not only that,
35:50
there's no capital gains for Bitcoin as well.
35:52
So that that's absolutely awesome.
35:54
And again, lots of signal here, probably has it been pointed out
35:58
by anybody else? The Bitcoin law in El Salvador,
36:02
pass with the vast majority in the car, the Central African
36:07
Republic, if you remember yesterday's, episode also passed
36:11
with the vast majority, this bill passed 42 fucking zero,
36:16
okay? So remember when the IMF starts,
36:19
having a titty attack, right about this happening in other
36:22
countries, They're going after they're essentially rebuking the
36:27
Democratic process and the sovereignty of those countries
36:31
because the people of Panama, or the people, the people of Panama
36:35
elected these representatives and these Representatives
36:37
passed, the bill for T20. Same thing happened on Salvador.
36:40
Same thing happened in the Central African Republic.
36:43
So remember when they lose their shit, remember what they are
36:46
actually saying, even though these countries chose and the
36:51
people of these countries chose to make, Bitcoins are to
36:55
essentially forward the Bitcoin Revolution, we at the IMF, still
37:01
don't agree with that. And the reason they don't agree
37:03
with that, I'm going to add a little bit of Nico biases
37:06
because they're fucking Central planners.
37:07
That's why right. You still don't believe me the
37:10
head of the IMF Georgina something, right?
37:13
Fuck it, graduated from the car marks Institute of Social and
37:17
economic scar, marks it with the fuck, no political economics.
37:21
It's even is fucking crazy. All right, moving on.
37:24
Okay, so there's a picture of the Panamanian politics
37:27
politicians with the bill to regulate the commercialization
37:31
and use of Bitcoin and should coins.
37:33
All right, so all seem very happy, but you can't tell what
37:37
the chin diapers on. Anyways, Panama assembly passes,
37:41
Bill regulation Bitcoin /. It coin is an awesome article by
37:45
Bitcoin magazine Panama has unanimously approved overhaul
37:48
legislation to regulate the Bitcoin in shit.
37:50
Coin markets in the country in a move that takes the burgeoning
37:53
industry. Out of a current Gray Zone.
37:55
The new legislation regulates the trading and use of Bitcoin
37:59
shit coins. The issuance of digital value
38:01
tokenization of precious metals and other assets payment systems
38:04
and dictates other Provisions. The country's legislative
38:07
assembly tweeted on Thursday. The bill seeks to provide
38:10
regulatory Clarity for the optional usage of
38:12
cryptocurrencies as payment and Panama.
38:15
Silva added more over. The goal is to incentivize
38:18
foreign companies to open offices and Central American
38:20
country as well as a tool to Foster local entrepreneurship.
38:24
Type in the Bitcoin and chaconne services business.
38:27
Over 50 percent of Panama's population, doesn't have a bank
38:31
account. That's a lot of signal right
38:34
there. And another thing and this is
38:37
why I said that I kind of like this a little bit better than
38:43
the legal tender law. And the reason for that is this
38:48
The bill seeks to provide regulatory Clarity for the
38:51
optional usage of Bitcoin and shit coins as payment in Panama,
38:55
right? It's not tender by decree,
38:59
right? It's not tender by coercion.
39:01
It's optional. But you still can use it as
39:04
tender. So, technically, I would say,
39:07
this is better than legal tender, because it's saying,
39:09
hey, it could be used as a currency, but you don't have to
39:13
use it if you don't want to write.
39:15
So, I don't know, man. And another Awesome point about
39:18
this. And shout out to our little
39:19
Panama and he was right when he said this was going to happen in
39:22
Panama, by the way. So shout out to him, he came on
39:24
the show, about six months ago, he says, welcome to Panama
39:27
bitcoiners, you will be able to buy and sell, sell sell, sell
39:31
goods and services and pay your taxes and Bitcoin Panama's
39:34
territorial tax system, will also apply to bitcoin meaning,
39:38
zero percent capital gains taxes Panama has a long tradition of
39:42
legal /, banking services, and it's beautiful.
39:45
And I agree. It is fucking beautiful.
39:47
So shout out to the panamanians. Yeah, it's not the fancy
39:51
buzzword legal tender, but if you look into the details, Nico
39:56
would like to believe it's better.
39:58
Phil, do you agree? Do you disagree?
40:00
How do you feel about this my birth?
40:01
My bro, Phil also believes that this is better than coercion and
40:07
legal tender. I like this a lot more.
40:09
Because if they treat it this way, it inherently, how could I
40:13
say this? It essentially inherently gets
40:15
all the properties of their legal Tender by way of payment
40:19
and the tax code and everything. So don't get me wrong.
40:22
I think this is awesome II think that this is absolutely
40:25
fantastic. And the thing I wanted to point
40:27
out Nico, is I thought that CBD Seas were going to help the
40:31
unbanked we covered that last week and in our big long paper,
40:34
write the, you know, consensus was proposing, the CBD season
40:38
and really the main problem is, to help the unbanked with an
40:42
exclusionary system that requires, Pretty much almost.
40:49
No, I'm kidding. I was gonna say your first born
40:50
but I'm kidding. I know we're not that bad yet.
40:52
They're not there yet but sometimes I feel like that's
40:54
what they're asking for. Okay, I'm just saying, but the
40:57
process is pretty. It's definitely dehumanizing to
41:00
say the least anyways. Yeah.
41:03
You know what they Panama? Did it right?
41:05
And the CBD sees. They don't stand a chance.
41:08
I completely agree. They don't fucking stand a
41:11
chance. Anyways, Eric, what are your
41:13
thoughts on this? Yeah.
41:15
It's um, it's funny how these announcements just like kind of
41:18
keep happening and like their news but they're not like
41:21
seismic, but like 5 years ago this would have like shaken,
41:24
like, the Earth on bitcoin. And what, what I think is most
41:27
interesting about the Panama is just that, like, it really lets
41:32
like Bitcoins Game Theory. Play out naturally, right?
41:35
So without like having to enforce it by legal tender, just
41:37
like let's give people the option to accept the soundest
41:41
hardest like best money. That human beings have ever
41:43
invented a human. Sheree.
41:45
And like by nature of Bitcoins owned properties, right?
41:48
The way that it operates its own protocol, like it's going to win
41:51
just off that. It doesn't need anything else.
41:53
Just so just the way that Bitcoin has gone from whatever
41:56
02 like 69k at its highest, it does that all by the nature of
42:00
its own properties and major the port of all it doesn't mean you
42:03
know VC funding. It doesn't need governments.
42:05
Making it legal or illegal. It's going to just keep rolling
42:08
and doing its thing. So, yeah, I'm bullish.
42:12
And for the developing countries to me, it's I can fucking
42:15
no-brainer. I think they should all just be
42:17
like embracing because there's like just a symmetric upside to
42:20
making Bitcoin, legal tender, making big money.
42:22
People in your country have absolutely nothing to lose G7
42:24
countries and acting have everything of everything to
42:27
lose. I'm sorry.
42:28
Yeah, we have everything to lose for, from, from this and like a
42:31
developing country, you have owe me only, you can only gain from
42:34
this. The, I come to, I think it's
42:36
just gonna keep happening. I completely agree.
42:39
Well, guys, now you got the good news.
42:41
Now, the listen, there's no News in Bitcoin.
42:45
It's just you kind of have to stay on top of the attacks.
42:48
And I know that a lot of other channels don't focus on this
42:51
shit because it's not clickbait. He does it make the news but we
42:54
pride ourselves on covering this shit.
42:58
The continued fucking attack on. Bitcoin continues, shout out to
43:02
know bullshit. Bitcoin, we get a lot of their
43:04
news for a lot of our news from them.
43:06
Coinbase releases. Coinbase intelligence
43:09
surveillance sweet corn base, know your customer coinbase
43:13
tracer, customers will include financial institutions,
43:17
businesses governments, and law enforcement agencies and here's
43:22
the official announcement from coinbase, right?
43:25
Dude, I think that all of these systems, right?
43:30
Are literally the anticipates. I don't know if I pronounce that
43:34
correctly, you get of Bitcoin literally know your customer and
43:39
Bitcoin are not compatible. Right?
43:42
What, what, what can happen though, is on the other On and
43:45
off ramps, right? If you're selling bit if you're
43:48
selling your government cook bunny to bitcoin for sure.
43:52
Know your customer applies but once you're in the Bitcoin
43:54
ecosystem which is why it's so fucking important to take self
43:58
custody. I always say this, right?
44:01
Bitcoin doesn't care, which is why connect the dots everybody,
44:04
which is why you have hit Pieces by the world economic Forum
44:08
saying, that proof of work is bad.
44:10
Proof of work, is what makes all of this shit obsolete?
44:14
They could pound sand. They can say oh no your
44:16
customer. Bitcoin does not give a fuck
44:19
because the proof of work but it's not only coinbase, right?
44:22
And Y is going based developing this type of shit, right?
44:25
So not only does New York ban proof of work.
44:30
They also fucking man double stabbed, but this is a new
44:36
announcement. So, not only do they have the
44:38
bitlicense, right? They are, they also want to add
44:42
even more regulation, even more red tapers, So this is this came
44:46
out either today. Yeah.
44:48
Today the purpose of this guide is called all virtual currency
44:52
businesses and entities license. Under 23.
44:55
I'm sure that's a bit license and it just added a bunch of
44:58
shit. So let me get through some of
44:59
it. The purpose of this guidance
45:02
from the New York State Department of Financial Services
45:04
is to emphasize to all virtual currency businesses entities
45:07
that are either I since under blah blah blah blah, the
45:09
importance of blockchain analytics to effective police
45:14
assesses and procedures including four examples.
45:17
Those relating to customer due diligence transaction monitoring
45:20
and sanction, screening Financial activity, involving
45:24
virtual currency can involved among other things different
45:26
sources, destinations and types of funds flows that are found in
45:30
more traditional fiat, currency context.
45:32
For example, virtual currencies such as Bitcoin and shit.
45:35
Coin ether, can be transferred peer to peer directly from one
45:38
individual or entity to another pseudonymous, Lee absent, the
45:42
use of regulated, third parties, you The language there, right?
45:47
So without of regulated third-party you could transfer
45:50
Bitcoin and shit coins, peer-to-peer, right?
45:53
That might be a problem. It remember these laws, the way
45:57
they function is you try to set a precedent and then you build
46:00
from there, right? Thus, to effectively address
46:04
compliance requirements under the New York Banning law banking
46:07
law, and the New York Financial Services law as well as the
46:10
Federal Bank, secrecy act and office of foreign assets,
46:13
control requirements, VC entities, You must be sure that
46:16
their compliance programs fully take into account the unique
46:19
characteristics of virtual currencies.
46:21
So if you want to know, why half the world or 40% of the world
46:26
remains unbanked, that is all why right?
46:30
Think about it. For you to use a money, you have
46:33
to check all of those fucking boxes, whereas Bitcoin, you
46:37
literally just download a wallet and now you have access to the
46:41
world economy, right? At D.
46:42
But they would like you to believe without all of the Shit,
46:45
the world's economy would bird down.
46:46
That's a fucking lie anyways, check it out because now they
46:50
don't fucking care anymore. They're just fucking you know
46:53
letting you know how they feel. Phil check this shot.
46:55
This is pure clown World. Shit while such characteristics
46:58
present compliance challenges, they also present new
47:03
possibilities for control measures.
47:06
No leverage these new technologies.
47:09
It's not even about compliance now.
47:10
They're just saying it's about control everybody given the
47:13
above noted character. Mystics of Virgil current
47:15
virtual currencies apartment emphasized, the importance of
47:18
blockchain analytics to VC entities in addressing, for
47:21
example, anti-money laundering requirements, and it, and across
47:24
a range of AML and ofac related compliance controls included,
47:29
but not limited to. And this is essentially what
47:31
they're doubling down on argument augmenting so making
47:36
the know your customer even more intense, right?
47:39
Conducting transaction monitoring of on chain activity
47:43
and conducting. Friends screening of on chain
47:46
activity as well, right? So, dude there, man, and, and
47:52
the reason that I highlighted, the peer-to-peer aspect of that
47:55
is because they specifically said in the text that
47:57
peer-to-peer was going to be almost impossible to do this to.
48:00
So at what point, I wouldn't be surprised that enough a couple
48:03
years. Hey, no more peer-to-peer
48:06
because it doesn't check all of these boxes and it makes it
48:09
difficult to do all of these things.
48:11
If you don't believe me, if you still think I'm a conspiracy
48:13
theorist, that's Exactly what South Korea, didn't exchange in
48:17
South Korea. Did they?
48:18
Banned peer-to-peer transactions because it didn't fit the know
48:22
your customer thing. So again, dude, it's this is
48:26
scary guys. And again that's just highlights
48:28
how fucking evil coin basis like they don't give a fucking flying
48:32
fuck they just don't care, they'll sell their fucking soul.
48:37
They don't give a shit if it means making a little bit more
48:39
money. They're fine to it now.
48:41
Like and again, I think there's going to be a Cosmic clash
48:46
between this bureaucratic system of control, which is the AML kyc
48:51
system and the Bitcoin system because the Bitcoin system makes
48:56
that system completely Obsolete. And if enough people opt out and
49:01
have their money in Bitcoin, they could go pound sand, it
49:05
doesn't fucking matter but they don't want you to know that they
49:09
would like you to think that their systems of surveillance
49:12
and control are still necessary. For the for the world to
49:15
function and that there, there could be no other other system,
49:21
it's the only system available Bitcoin is working.
49:24
Just fine. And none of those things are on
49:26
bitcoin their inherent to the on and off ramps.
49:30
So if you sell Bitcoin for Fiat, which I don't know why you would
49:33
do that. Yeah, it applies there because
49:35
government could capture it but it doesn't apply to us.
49:38
It's a Bitcoin. I think these systems are going
49:40
to clash one day. I think it's going to be a major
49:42
contentious issue, and this is just more Hoping it's just
49:45
heading in that direction. Phil, what are your thoughts on
49:47
this? I think that this really
49:49
confirms our thoughts on the I think they were called the
49:52
neutrino hack team, right? That that's what coin.
49:54
That's who coinbase essentially bought, they are they hired a
49:59
whole bunch of them, right from this hack team that was sharing
50:02
government secrets and stuff like that.
50:04
So now we come to fruition right now we understand exactly what
50:07
they were doing. They were hiring these people to
50:09
help developing, you know, to help them develop these tools.
50:12
So thank you for continuing to be, you know?
50:14
Terrible shitty human beings and of course, you know, following
50:17
their incentives. You got to remember this though,
50:20
about coinbase. They're not a private entity
50:22
anymore, they're beholden to shareholders and a board of
50:25
directors now. So they have to grind out those
50:29
fricking predictable. Profits like there's no tomorrow
50:33
until they decide to take themselves public or some public
50:36
private, or somebody else takes them private, not that I give a
50:39
shit because I can't stand coinbase, but I'm just saying
50:42
they now have the immense pressure of Hang out those
50:45
pennies every quarter, right? They have to prove it because
50:48
Boards of directors, they don't give a shit for the most part of
50:50
what you do. They just want to see their
50:52
number go up. So coinbase now has to do all
50:56
kinds of crap, like this, which don't get me wrong, Brian
50:58
Armstrong, never had a problem, Schilling, absolute trash that
51:02
fleeces noobs. So this is just I think par for
51:05
the course for coinbase. Now that article that you
51:08
brought up though was that New York State regulation?
51:11
Hmm. Is that what that was?
51:13
Yeah, they just want to make sure Sure, that they just
51:16
literally disappear into the asshole of the country.
51:18
It's like an asshole in the country.
51:20
That's where they're disappearing too.
51:21
And if there wasn't one, they just became it.
51:23
That kinda thing like in the world and the financial world
51:27
before they do, you had no other option now.
51:32
It's like, okay, like sure, you know, Miami come to Miami baby,
51:36
right? And that's exactly the, that's
51:37
the claim that my he's doing, right?
51:39
Miami's trying to take that thrown away from New York.
51:43
So it's like you guys I had no choice because of the physical
51:46
location, but when it comes to bitcoin and chick one's right to
51:49
be fair, it's both Industries, right?
51:52
Does it matter? Look at what happened?
51:53
Even? When, even it, when it comes to
51:55
physical Hardware, look, what happened in China?
51:57
All those miners, just left have fun.
51:59
Staying poor China. And that's exactly what's gonna
52:01
happen here. So you, are you shot?
52:04
You know, how you shot yourself. You shot yourself in the foot
52:06
with a bit license. You shot yourself in the other
52:08
foot and now you're on the floor.
52:10
Like fuck. Yeah, help me.
52:12
And not only that you fucking bitch.
52:14
And Bitcoin mining to. So you shot yourself in the
52:17
third foot, three feet. Phil, did they think the miners
52:21
were just gonna throw up their hands and say, oh, well, they
52:24
shot us down. We're done and just walk away
52:27
from all of that investment, like I don't understand
52:29
something, they're not walking away like, you know what I mean.
52:32
The sorry, the IMF and all of these agencies they're not,
52:36
they're not walking away from their investment.
52:39
So why would they think that the miners are going to be like, oh,
52:42
you know what? I'm just throwing up my hands.
52:43
I'm done. Come on.
52:45
This is these people are these people are idiots.
52:48
They don't understand. Fully idiots.
52:50
They don't understand incentives, dude.
52:52
But anyways, Eric, what are your closing?
52:54
Thoughts, my dude? Yeah man.
52:57
Um, so it's frightening, it sounds like your point.
53:01
They're setting the precedent for the ability for people to
53:04
transact peer-to-peer is dangerous.
53:06
And we need to prevent them from doing that.
53:07
And the only way that they can do that is through the on-ramps
53:10
because Bitcoin natively, there's nothing stopping me.
53:12
Once you have the private keys from transacting peer-to-peer so
53:15
they're going to try to hit the on ramps.
53:16
I'm I think the European Union will do that.
53:20
We already saw them try to do that with like on hosted
53:22
wallets. I want to believe that America
53:24
will hold out against that just because Is a stronger framework
53:27
of Defending property rights and individual freedom and self
53:30
sovereignty in America than there is in the European Union.
53:33
So, but maybe that's me, being a little bit too optimistic.
53:37
We saw something kind of similar to this with, with encryption
53:39
and like Phil Zimmerman, and the pgp wars and like late 80s and
53:43
in the 2000s. But even then, like the doj came
53:47
after Zimmerman, you know, for Munitions violations and stuff.
53:50
So like they're going to fight hard, but I want to believe
53:53
maybe I'm being too optimistic that in America.
53:55
There's there's As a precedent for enough free speech and
53:58
property rights that we would be like, no.
54:01
Like this is absurd. I think that the the the federal
54:05
government has the most to lose with this but the state's
54:08
governments have the most to win.
54:10
And I think that because of how the American government is
54:13
structured, meaning, individual states have so much sovereignty,
54:17
right? It kind of creates a better,
54:19
better flag Theory, right? So it's like fine, California.
54:22
New York, have fun. Staying poor.
54:25
Texas, Florida. It's like, okay, we'll take your
54:29
fucking business and then you already see this with the vast
54:32
amount of population that is leaving California, New York,
54:35
and they're coming to Florida and Texas, right?
54:37
So and Wyoming's another state. So I think as long as there's
54:40
like an Alamo state, right, which is really looks like it's
54:43
being Texas right now I know Wyoming is betting hard on this.
54:47
I think that there's there's hope in America and perhaps it
54:50
will see. Something similar to the
54:52
marijuana industry where marijuana a federal levels.
54:55
Goal. But on a state level, it's
54:57
legal, right? And then the states are just
54:59
like, yeah, you go fuck yourself, but this is money.
55:01
There's a lot more at stake. I don't know.
55:03
Let me interesting to see how it plays out.
55:04
But anyways, father was an open source.
55:06
Software released today. Why did you tell everybody about
55:08
it software releases? Brought to you by Cipher safe?
55:12
Check them out. Cipher safe dot IO, I heard
55:15
something interesting. Today, somebody talked about
55:17
storing their seed as a tattoo on themselves.
55:21
No, do not store your seat as a tattoo on yourself instead.
55:25
Store it in the Cipher wheel or the cipher grid.
55:29
They both come with a tamper-resistant wire, but the
55:31
grid also comes with a punch tool.
55:34
We've got BTC pay server version, 1.5.0 that was released
55:40
its Down Below in the show notes, guys, I'm hearing that is
55:43
a huge release for be TCP server.
55:45
Anyways, anyways, are Audio Only stuff rights.
55:49
Gotta get this right today. Anyways, don't forget to check
55:51
us out on our Audio Only Apple podcast Spotify and anchor.
55:59
If you want to stream osots Fountain dot f m-- you could
56:02
stream assets through Breeze. Awesome.
56:04
Thank you for guys before we go, I want to give a very special
56:07
shout-out to our awesome clothing sponsor represent
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LTD.com fill the night where the hoodies every single day.
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He has a gray one. I have the camo on.
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Proper proper attire, but yeah, check out rep, hard.com and you
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can take advantage of the link down below to get At 10% off and
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there's a promo code as well. And I also want to give a
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special shout-out to our awesome.
56:30
Awesome guest, his name is Eric, you can go give him a follow.
56:33
On Tweeter @ux, Eric underscore. He is a ux designer focused on
56:40
open source, Bitcoin projects and that definitely means he's a
56:43
friends of the show. Definitely give this guy's a
56:46
follow his some awesome projects guys.
56:47
That was a show. You like the show, you know what
56:49
to do? Spanish, of course you want to
56:51
continue hearing the catastrophic fails from the
56:53
world economic forum and the pink ponies.
56:55
From the pre-flood perspective. Definitely consider subscribing
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