Latest / Simply Bitcoin / BREAKING: Bitcoin is BIGGER Than Google [$100K Triggers Short Squeeze] | EP 1240

Transcript

BREAKING: Bitcoin is BIGGER Than Google [$100K Triggers Short Squeeze] | EP 1240 · Simply Bitcoin

• 0:00
  Bitcoin is back at 100K again for the first time in over 120
• 0:05
  days and is setting up the mother of all short squeezes.
• 0:10
  Bitcoin is now the 6th largest asset in the world and most
• 0:14
  people don't even realize that Bitcoin just passed Google in
• 0:18
  market cap. You heard that right, Bitcoin is
• 0:21
  bigger than Google or Alphabet and retail is not even paying
• 0:26
  attention. Proving guys proving that we are
• 0:29
  going much much higher this bull run absolutely bullish stuff
• 0:33
  today feels good guys I'm not going to lie this feels good
• 0:36
  we're we're we're back in the paint all right but before I
• 0:38
  move on I do want to introduce my very awesome and special
• 0:42
  guest uncle rock star with the absolutely epic video here and
• 0:47
  of course we got Luke so Nico's studio setup was having some
• 0:51
  issues this morning so we we had to pull in the ulterior the
• 0:54
  alternative in here but let's get into this guy so as you can
• 0:58
  see here Bitcoin Bitcoin is now the 6th largest asset by market
• 1:03
  cap it has surpassed alphabet, AKA Google.
• 1:07
  Of course, it's putting silver in the dust feels really good.
• 1:10
  It looks like we're on the heels of Amazon.
• 1:12
  And you know, as much as Bitcoiners don't like the market
• 1:16
  cap metric, I think these are some of the big metrics when you
• 1:19
  show like your normie friends is like, yo, Bitcoin is not going
• 1:22
  away. Bitcoin is here to stay.
• 1:24
  It is bigger than Google and we all know how people feel about
• 1:27
  Google. It's it's quintessential with
• 1:30
  the modern times that you know, everyone's familiar with Google.
• 1:33
  Well, guys, Bitcoin is now bigger than Google.
• 1:36
  Now some interesting metrics here.
• 1:38
  And when we set up the show, it didn't actually break 100K yet,
• 1:42
  but we have broken this. So it looks like the mother of
• 1:45
  all short squeezes is upon us. This was from yesterday at 100
• 1:49
  K, $4 billion worth of Bitcoin will be liquidated.
• 1:52
  And then we saw this morning I saw Karl Manger say basically
• 1:55
  something similar at 100K, it'll be 3 billion in shorts
• 1:58
  liquidated. So think people are taking
• 2:00
  taking their shorts off because they saw what was going on and
• 2:02
  here just to update, we're not we're not going to do any TA
• 2:05
  here guys, but you know, just to prove we are still above 100K
• 2:09
  because sometimes when we do the price videos, you know Bitcoin
• 2:13
  does crazy things it's super volatile and it goes under.
• 2:16
  So I'm over here on trading view and one minute chart so you guys
• 2:19
  can see it. We're currently at 101 K guys.
• 2:22
  So this one does feel good. This this, you know, reclaiming
• 2:25
  of 100K feels like we have earned this price.
• 2:28
  It feels good. Now another interesting little
• 2:31
  metric here guys is of course you know how we love Google
• 2:34
  Trends. Now check out the Bitcoin Google
• 2:36
  Trends. This is just how I know we're
• 2:38
  going higher. Not only do we have
• 2:40
  institutional capital, we have an insane Bitcoin ETF inflows,
• 2:45
  but no one is searching for Bitcoin yet.
• 2:47
  I think retail is either one just completely broke right now
• 2:50
  because inflation there it's you know no one has free money
• 2:53
  anymore like the past, which really makes you wonder whether
• 2:56
  retail is going to dive into Bitcoin or at what price they
• 2:59
  start to FOMO into Bitcoin. But if you look at the trends
• 3:02
  here, guys, the you know, Google Bitcoin searches are pretty low.
• 3:06
  They're they're looking like they are in basically bear
• 3:09
  market territory. So we haven't even caught the
• 3:12
  FOMO yet. Yes, Bitcoin prices driven by,
• 3:15
  you know, the high net worth individuals, institutional
• 3:17
  capitals, really rich people. But once you get the FOMO, as
• 3:21
  the saying goes, once the, the the shoe boy shining kid is
• 3:25
  talking about Bitcoin, this is when you know you are in peak
• 3:28
  bull run territory. Well, we haven't got there yet,
• 3:31
  guys. The interest around Bitcoin is
• 3:32
  dead. No one is paying attention.
• 3:34
  Bitcoin's at 100K, it's the 6th largest asset in the world and
• 3:38
  everyone is asleep at the wheel. Unless you're in Bitcoin, you're
• 3:41
  probably not aware of what Bitcoin is doing today.
• 3:45
  Now, another little interesting story in here.
• 3:48
  We've been covering this for a while.
• 3:49
  I know everyone has a prediction of where the price is going, but
• 3:52
  I saw this this morning and I thought it was pretty funny.
• 3:55
  So Standard Charter, which is a trillion dollar bank here, they
• 3:59
  apologize for not being bullish enough.
• 4:01
  Guys, this is where we are on the cycle.
• 4:03
  They made a prediction of 120K target for Bitcoin end of year.
• 4:07
  Now they're like, I think 120K by Q2.
• 4:10
  And just to quote here a little bit, of course, talking to
• 4:13
  Standard, Charter's Head of Digital Asset Research, Jeffrey
• 4:16
  Kendrick has revised his Bitcoin point prediction, suggesting
• 4:19
  that its previous 120K target for the second quarter could be
• 4:23
  too conservative. I quote, I apologize that my 120
• 4:27
  KQ 2 target may be too low, citing growing institutional
• 4:31
  interest and inflows into US listed spot Bitcoin ETFs as a
• 4:35
  primary factor to this change in stance.
• 4:39
  And we even got this tweet, this tweet here coming out of block.
• 4:42
  It's podcast, but I'm just going to read the headline.
• 4:45
  Of course, David Bailey, probably the most bullish guy on
• 4:48
  Twitter, you know, highly, regardedly bullish here.
• 4:51
  I like this. I like this headline, though.
• 4:54
  Bitcoin becoming global reserve assets sooner than most of you
• 4:57
  think. And of course, also citing the
• 5:00
  growing institutionalization and geopolitical adoption as
• 5:03
  reshaping its role. So guys, I don't know about you.
• 5:08
  I'm starting to feel really bullish.
• 5:09
  I feel like 100K feels good today.
• 5:12
  You know we're 6th largest asset in the world.
• 5:14
  Looks like we are holding that position.
• 5:16
  We did kind of cross this position a couple of weeks ago,
• 5:19
  but it went up and then it went down and then the stock market
• 5:22
  pumped and so we were back at like 8.
• 5:24
  But it looks like we are holding this 101K position really good.
• 5:29
  Let's see how far we can run. I know a lot of us have been
• 5:32
  saying, I know I've been saying on the show it seems like all
• 5:34
  time high by end of month. Well, it looks like it's closer
• 5:38
  than we think guys. So let me know in the chat.
• 5:40
  Actually, I will do a poll real quick while I'll pass it over to
• 5:43
  Uncle rock star, the legendary Uncle Rock star on the show.
• 5:48
  I know you're more on the dev side.
• 5:50
  I I know a lot of people say, hey, don't worry about the
• 5:53
  price, but how does 100K feel for you?
• 5:55
  What's your thoughts on Bitcoin Pass and Google?
• 5:58
  No, I'm, I'm in it for technology, right?
• 6:01
  Like everyone else. No, I, I love when Bitcoin is
• 6:06
  going up because as you can see from my background, it means we
• 6:11
  burned this dirty Fiat at the better rate.
• 6:15
  So, and I think everyone loves seeing the number go up because
• 6:20
  it's it's one of the easiest ways to explain how Bitcoin is
• 6:24
  is valuable is like compare it with USD.
• 6:28
  So even though I am in it for technology, seriously, I love
• 6:34
  seeing price go up and people to discuss price.
• 6:37
  You have more power to you. Yeah, well, Uncle Rock Star,
• 6:43
  you've been on the show before in person, but we we have been
• 6:47
  claiming a new moniker here. We are part of the click bait
• 6:51
  cabal on YouTube and you know, we're playing the game well
• 6:55
  here, so we'll see what happens. Today I was thinking, hey, look,
• 6:59
  you know, Bitcoin's back at 100K.
• 7:01
  Bitcoin's the 6th largest ass in the world.
• 7:04
  People don't understand where Bitcoin is going.
• 7:06
  So let's just lean into it. Let's lean into it.
• 7:08
  And on that trend of click bait cabal scammers, here we have
• 7:13
  Luke, the mother of all click bait scammers on YouTube.
• 7:16
  So Luke, what's your thoughts on all this stuff?
• 7:18
  Give the give the people some some hope today.
• 7:22
  Oh, the people need hopium. Come on, we're back at 100K,
• 7:24
  guys. I don't think I need to dish the
• 7:26
  hopium out to you guys. What I thought really
• 7:28
  interesting, what I think is really interesting is the fact
• 7:32
  that if you look at Google search trends for Bitcoin,
• 7:35
  retail is absolutely sleeping right now.
• 7:38
  Opti and I were looking at this this morning.
• 7:40
  We couldn't believe what we were seeing.
• 7:41
  Bitcoin's back at 100K, but search trends for Bitcoin is
• 7:45
  like a bear market lows. It's at the same.
• 7:47
  It was at 2 1/2 years ago when Bitcoin was at $15,000 a coin
• 7:52
  after FTX crashed. So a lot of people are saying,
• 7:55
  oh, Bitcoin topped at 100K. BlackRock is distributing their
• 8:00
  coins. They're using retailers, exit
• 8:02
  liquidity. There's a lot of these
• 8:04
  narratives around, you know, trying to paint the picture that
• 8:08
  Bitcoin's topped at 100K Again, who knows where the price of
• 8:11
  Bitcoin is going in the short term.
• 8:12
  Again, price is the least interesting thing about Bitcoin,
• 8:16
  but I just find it but highly unlikely.
• 8:18
  The bitcoins topped at 100 Ki think retail is absolutely
• 8:21
  sleeping at the wheel right now and I think they're going to be
• 8:25
  woken up later on in the year when bitcoins much, much higher
• 8:29
  than it is right now. Yeah, 100%.
• 8:32
  And honestly, I'm kind of sad Nico's not on the show today
• 8:35
  because he's been very bearish lately and and the chat's been
• 8:40
  noticing that he's been very bearish lately.
• 8:42
  And you can tell his he's having like, you know, mood swings
• 8:45
  based on the price movement. And it would have been a good
• 8:48
  day to just rub it in his nose. Hey, dude, just like tune out.
• 8:52
  You know, he tells us all the time to not watch the Bitcoin
• 8:54
  price. And then he's sitting here like,
• 8:56
  man, I'm I'm I'm feeling worn out.
• 8:58
  When are we getting back to all time high?
• 8:59
  So hey, we told you, Nico, stay bullish here.
• 9:02
  This is ridiculous. I can't believe he's on a
• 9:05
  Bitcoin show being a bear guy. So maybe next time Nicos back on
• 9:10
  the show, he's actually probably going to be back on Monday guys.
• 9:12
  So you're stuck with me this week.
• 9:13
  Anyways, let's get into the show because we got a good we got a
• 9:16
  bunch of stuff for you guys. So in the numbers, I got a clip
• 9:19
  on Jack Mahler's kind of debating Bitcoin versus gold.
• 9:23
  Bitcoin, as you know, superior, perfect money, programmable,
• 9:27
  etcetera, why it's better than gold.
• 9:28
  And in the news, I got some news updates for you guys regarding
• 9:32
  state adoption of Bitcoin. We had some laws passed over the
• 9:36
  last couple of days ever since New Hampshire announced A
• 9:39
  strategic Bitcoin reserve On the state level, we have some
• 9:41
  interesting news coming out. It seems like the states are
• 9:44
  falling very quickly to past up. And then in the culture, as you
• 9:47
  can tell, we have Uncle Rockstar here and we are going to kind of
• 9:52
  cover a little of the OP return controversy stuff.
• 9:54
  We did it last week. We actually did it literally
• 9:57
  last Thursday. We'll do it this Thursday again.
• 9:59
  But Uncle Rockstar is going to announce something really
• 10:03
  awesome that I want you guys to be a part of.
• 10:05
  So on that note, let's get into the show.
• 10:07
  But of course, before I move on, I want to remind you guys smash
• 10:11
  the like button, subscribe, comment on the show all time
• 10:14
  high by end of month or this weekend.
• 10:16
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• 11:00
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• 11:19
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• 11:25
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• 13:02
  All right guys, I'm over here on Clark Moody Dashboard and for
• 13:06
  some reason it erased all my favorites.
• 13:09
  So I just had to add some really quick for you guys here again,
• 13:12
  go to dashboard.clarkmoody.com. And of course the Bitcoin price
• 13:16
  currently is $101,100. The sets per dollar, AKA how
• 13:22
  much Bitcoin you can buy for your single dollar, AKA how much
• 13:25
  the dollar is worth in Bitcoin is under 1000 stats.
• 13:27
  We're currently at 989 stats per dollar.
• 13:30
  The market cap, we have reclaimed the $2 trillion market
• 13:33
  cap. Let's go, we are back.
• 13:35
  So we're at 2.01 trillion. The decline from all time high
• 13:39
  is -7.4% where I think we, I think you the chat might be
• 13:44
  right. We might be reclaiming all time
• 13:45
  highs by the end of the week and the last metric I have here
• 13:49
  because my met my favorites got all messed up.
• 13:51
  We have Bitcoin versus gold market cap is currently at
• 13:54
  8.64%. We have a lot of room to run and
• 13:58
  now let me see if I can find the total percentage.
• 14:02
  Here we go. Total percentage of Bitcoin that
• 14:04
  will ever be issued is currently at 94.58%, which means that
• 14:09
  there is roughly 19.86 million Bitcoin in circulation.
• 14:14
  All right guys. So as I was telling you, I've
• 14:17
  really been liking these edits by Jack Muller's lately.
• 14:20
  Whoever the editor is, you're killing it.
• 14:22
  And of course, Jack Baller's out here.
• 14:25
  He's always really good at talking about what's going on in
• 14:27
  Bitcoin and we have been seeing this kind of growing trend the
• 14:30
  last couple of weeks and maybe I'll pull up the metrics when I
• 14:34
  after I run this, but we've been seeing that even though gold's
• 14:36
  kind of going to all time high right now we're and Bitcoin is
• 14:39
  starting to RIP. A lot of people are trying to
• 14:41
  find the reasons for it. We did see an interesting metric
• 14:44
  come out this week in regards to inflows into the ETF.
• 14:48
  So I know you guys don't like the ETF, but I think this is an
• 14:52
  indicator of where institutional the interest is is because we
• 14:57
  saw that the BlackRock Bitcoin ET, FS, the spot liquidity has
• 15:02
  surpassed the inflows into the gold ETF.
• 15:06
  So it looks like institutional capital does not want gold.
• 15:09
  They want that Bitcoin exposure. Maybe the meme of digital gold
• 15:14
  is catching on, even though I'm not the biggest fan of it, but
• 15:17
  it looks like people don't want that physical Bitcoin AKA gold.
• 15:21
  So let's play this clip real quick and then we will chat
• 15:24
  about it. I often say Bitcoin such a
• 15:27
  unique money relative to gold because it's software and
• 15:32
  software. We're going to be able to make
• 15:34
  Bitcoin better forever. That's super unique, right?
• 15:38
  It's a software project. Bitcoins going to be improving
• 15:41
  long after I die. It's going to be infinitely
• 15:44
  better forever. Bitcoins, the first man made
• 15:47
  money. We found gold.
• 15:49
  It was the best thing to fit the monetary profile, to save our
• 15:53
  time and energy that we like found in the ground.
• 15:56
  We made Bitcoin. If I were to be alive hundreds
• 16:00
  of years ago and all that I needed to transact with was my
• 16:03
  tailor down the street, my butcher down the street, my
• 16:06
  grocer down the street, and I can exchange gold coins.
• 16:09
  Gold was fine. Gold was fine.
• 16:11
  The problem is that's not who I need to transact with today.
• 16:14
  Today I maybe order Uber Eats. I maybe need to buy buy
• 16:18
  something off Amazon from someone across the world.
• 16:21
  We live in a digital age. We live in a global economy of
• 16:24
  billions and billions of people. So in order for gold to work,
• 16:26
  you have to take your gold, deposit it at a bank, deposit it
• 16:29
  with a government, and then they give you a certificate to
• 16:31
  transacting gold. That doesn't work.
• 16:34
  Why does that not work? All the gold was concentrated in
• 16:36
  the United States of America. They took advantage of that,
• 16:38
  said we're going to become the world reserve currency.
• 16:40
  And then one day they just pulled the rug.
• 16:42
  Whoops. Just kidding.
• 16:43
  We don't have the gold. So that level of trust.
• 16:46
  Now, how did Bitcoin solve that? Bitcoin is both a monetary asset
• 16:49
  and a monetary network. So you can achieve transactional
• 16:53
  settlement without having to deposit your Bitcoin at a coin
• 16:57
  base, without having to deposit your Bitcoin with the US
• 16:59
  government. That's the beauty of it.
• 17:01
  Really. Being human is about engineering
• 17:03
  a better world, and Bitcoin is the latest iteration of that is
• 17:07
  really like understanding monetary properties,
• 17:10
  understanding the successes and failures of money, understanding
• 17:13
  the problems of central planning of a highly inflationary Fiat
• 17:16
  currency and the evils of central banks and engineering a
• 17:20
  better world, taking the latest technology and making the
• 17:22
  perfect iteration of it. And that's crazy to me.
• 17:30
  Again, I absolutely love these edits here.
• 17:33
  This is some great a propaganda here.
• 17:35
  Shout out the Jack Mahlers and his team.
• 17:37
  This is great stuff. Though I, I might, I might
• 17:39
  nitpick a little bit here because he said something that
• 17:44
  I, I know he's talking about gold versus Bitcoin here, but he
• 17:47
  said something on the lines of Bitcoin is the first man made
• 17:51
  money. I might argue a little
• 17:53
  differently because we have Fiat currencies, which is, you know,
• 17:56
  I would argue the first man made money.
• 17:58
  But to kind of tweak his statement, Bitcoin is the first
• 18:01
  perfect man made money. So, you know, I'll let it slide.
• 18:04
  I'll let it slide a little bit here.
• 18:06
  But anyways, Rockstar, you are more of a dev, as everyone
• 18:10
  knows, Uncle Rockstar dev here. What's your idea with this kind
• 18:15
  of framing that he has here that Bitcoin as software will be able
• 18:19
  to be tweaked forever to become even better money?
• 18:22
  I know we're going to go into the Aubrey turn controversy a
• 18:25
  little bit here. So it's kind of a fitting topic
• 18:27
  to have here on the show with you today.
• 18:30
  But anyways, what what's your thoughts after watching this
• 18:32
  Jack Muller? 'S clip hopefully not because if
• 18:37
  we keep tweaking Bitcoin and adding features changing it like
• 18:45
  we're we're really messing with Bitcoin because the only way
• 18:49
  that we go down to 0 is if there is some kind of critical bug in
• 18:54
  Bitcoin that rug pulls everyone. So this is one thing where I
• 18:59
  disagree with Jack in that video.
• 19:02
  I like the path of ossification. Bitcoin is great as it is of
• 19:08
  course there is need for critical fixes security fixes so
• 19:13
  on and so forth but no I, I, I hope that we don't go in the
• 19:18
  future where we're tinkering with Bitcoin the way that
• 19:22
  Ethereum crowd with Vitalik is is doing I mean you agree with
• 19:25
  me right yeah and and then and then what you were saying about
• 19:31
  man made money absolutely right. Fiat like I, I actually like
• 19:38
  what I see what Fiat has allowed us to do over past, you know,
• 19:45
  century. But it's quite obvious that Fiat
• 19:49
  as technology is now obsolete and we have better technology
• 19:53
  that Bitcoin is. So Bitcoin as you say Opti is as
• 19:57
  close to perfection as we as humans.
• 20:01
  Got So that's what all the gold crowds will recognize is that
• 20:09
  gold is old, you can't use it, and the Bitcoin will demonetize
• 20:14
  it. And the great thing is that
• 20:16
  Bitcoin will demonetize speculation not only on gold,
• 20:20
  but on anything that people are today getting in beyond the
• 20:25
  utility value. You know how people are
• 20:27
  speculating on real estate? Why?
• 20:30
  Why would you speculate on real estate when you can just
• 20:33
  speculate on Bitcoin price? It's so much better, like
• 20:37
  liquidity is so much better. So I, I, I don't know if I
• 20:40
  should even address gold crowd. To me, those people just since
• 20:45
  they they will get to the point where they realize Bitcoin is is
• 20:49
  100 times superior to gold as a store of value.
• 20:53
  Yeah, 100% it. It really does feel, you know,
• 20:56
  like Bitcoiners and gold are like both hard money guys.
• 20:59
  It seems like we're kind of in the same direction.
• 21:02
  But it really does feel like you're talking to your boomer
• 21:04
  uncle sometimes. And he's just like, yeah, I
• 21:06
  don't care about this new technology.
• 21:07
  Like what if they cut off the Internet and the electricity and
• 21:10
  it's like we have way bigger problems than that.
• 21:13
  Like uncle, you know, not not Uncle Rockstar, but Boomer
• 21:16
  Uncle. Like if that were to happen,
• 21:18
  we're basically back in the stone ages and you probably need
• 21:21
  something else than gold to survive, AKA, you know, like
• 21:24
  ammo and food. So I think, I don't think we're
• 21:28
  going back to the stone ages here, Uncle Boomer.
• 21:31
  But it is interesting when you talk with them about.
• 21:33
  I think with gold people, it's, it's the same when we talk to
• 21:37
  gold people, I would tell, hey, gold people, this is how you
• 21:40
  talk to people that are in silver.
• 21:44
  Silver is absolute shit coin compared to gold.
• 21:48
  But you know, you, you have this silver crowd that that's
• 21:51
  speculating and they think it's going to overtake gold and
• 21:54
  whatnot. So, so yeah, gold people.
• 21:57
  Sorry that that's how we see you.
• 22:00
  Totally, I couldn't agree more. I love that analogy.
• 22:03
  The way you look at silver bugs is how we look at you gold bugs.
• 22:07
  Absolutely great framing. All right Luke, As in also grade
• 22:12
  A click bait scammer propagandist.
• 22:14
  What's your thoughts on this clip here from Jack Mahlers?
• 22:18
  So firstly, I love the clip. I want to double down on
• 22:20
  Rockstar's sentiment regarding gold.
• 22:23
  I think there's a lot of Bitcoiners in the space who just
• 22:27
  think that Bitcoin's just going to be another asset.
• 22:29
  It's just going to be digital gold 2.0.
• 22:32
  It's just going to be worth, you know, 500,000, a $1,000,000 a
• 22:35
  coin, maybe $2,000,000 a coin. Because they just look at the
• 22:38
  world with their linear lenses, they just think, OK, Bitcoin's
• 22:42
  just better gold. It's just going to be a little
• 22:43
  bit better than than gold. And I just think that's highly
• 22:46
  unlikely. I think the Bitcoiners who think
• 22:49
  that probably should be thrown in the same bucket as the gold
• 22:52
  bugs. I, I think the, the thinking
• 22:54
  here is, you know, like Rockstar said, Bitcoin's 1000 times
• 22:57
  better than gold. I, I just think it's highly
• 23:00
  unlikely we're not going to not only completely demonetize gold,
• 23:04
  but completely demonetize all of the other buckets of value
• 23:07
  around the world where hundreds of trillions of dollars are
• 23:11
  looking to be parked and looking for a safe home.
• 23:15
  So again, I don't want to go off on any unrelated tangents here,
• 23:18
  but I just think the whole argument of Bitcoin versus gold,
• 23:21
  I think this was, this was settled a long time ago.
• 23:25
  I think it was settled well and truly after the block size wars
• 23:28
  happened in 2017. I think once Bitcoin
• 23:32
  demonstrated it could not be changed and it could not be
• 23:36
  manipulated by the rich, by the rulers who wanted to change the
• 23:40
  rules of Bitcoin, I think it was abundantly clear Bitcoin was
• 23:44
  going to go much higher than gold's market cap.
• 23:46
  Where is gold today? What, 15 to $20 trillion?
• 23:50
  I I think that's just a little stepping stone that Bitcoin's
• 23:53
  going to surpass in the not too distant future here.
• 23:57
  Yeah, and I mean, really realistically, but the only real
• 24:01
  argument that I would say gold bugs have on Bitcoin is just
• 24:04
  it's been around longer. It's just people are just more
• 24:07
  exposed to the idea of gold. And at this point, you know,
• 24:11
  Bitcoin is 16 years old. It's it's still a very, very
• 24:15
  young technology in the grand scheme of things.
• 24:18
  People don't trust it yet because it hasn't been around.
• 24:20
  The only thing gold has is this sense of legitimacy that like,
• 24:23
  hey, we've been using gold forever, bro.
• 24:25
  And it's like, yeah, that's cool.
• 24:27
  But you know, we were once using horses forever and then cars
• 24:30
  came around. It's just better technology.
• 24:32
  This is just better money tech. And whether you like it or not,
• 24:36
  you will be forced to accept the fact that we have a better money
• 24:39
  technology. I think people forget that money
• 24:41
  is a technology. We're so used to using it that
• 24:44
  we don't even think anymore about it.
• 24:46
  Like we don't critically think about what money is because
• 24:49
  we're just trying to survive and get and get as much money as
• 24:51
  possible. But when you really break down
• 24:53
  the mechanics of money, it's just like it's a technology for
• 24:55
  society to scale and we have a better money for society to
• 24:59
  scale here. It's sorry, as much as you know,
• 25:02
  a lot of people would like to go back to gold, we're going to
• 25:05
  Bitcoin. It is what it is.
• 25:07
  And you know, gold bugs. Have fun holding your bags here.
• 25:11
  Anyways, let's jump into some state news here because we do
• 25:14
  have some state updates and you know some you're calling us
• 25:18
  click bait scammers here, but we're we're seeing some, some
• 25:20
  crazy tweets about the, the state news and some of them are
• 25:24
  I I, they don't sound that good, but we have some state updates
• 25:28
  on strategic Bitcoin or quote strategic Bitcoin reserves here.
• 25:32
  So let's get into all that. I want to give a shout out to
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• 27:54
  All right guys, so let's get into all of the different state
• 27:58
  updates in the United States. So we covered this, you know a
• 28:01
  couple days ago. This is it's not where we're
• 28:03
  where we're starting or this is not what we're covering, but
• 28:06
  it's where we're starting. As you've probably heard, the
• 28:09
  big news that came out of the states is New Hampshire just
• 28:11
  became the first state to establish a crypto reserve or
• 28:14
  rather a Bitcoin reserve. And they announced that they
• 28:16
  will invest about 10% of the state funds into Bitcoin.
• 28:20
  But it seemed to at least kind of start this domino effect here
• 28:25
  going on, which I find very interesting.
• 28:28
  And it's something that we kind of talk about here on the show
• 28:30
  all the time is like the game theory on Bitcoin is if you
• 28:34
  don't play the game, you're going to get left in the dust.
• 28:36
  And I find the timing very interesting that once we got
• 28:39
  this first state bill passed, it seems like other bills are now
• 28:44
  pushing these bills through very quickly.
• 28:46
  So following up, this one's the this one's the iffy one.
• 28:50
  All right. So this was the one that
• 28:52
  followed very quickly. I think it was a day after this
• 28:55
  came out May 7th yesterday. And you know, the headline is
• 28:58
  Arizona enacts new law to establish a strategic Bitcoin
• 29:02
  reserve. But when you read this press
• 29:05
  release, I don't know it did. I'm, I'm, I'm glad Uncle
• 29:09
  Rockstar's here because I'll, I'll get his take because for my
• 29:12
  reading, it doesn't sound too good.
• 29:15
  And, and I have a couple other other state updates here.
• 29:18
  So from Arizona, we have Arizona enacts new law to secure
• 29:23
  unclaimed digital assets and establish a Bitcoin reserve
• 29:27
  fund. And while I was reading this
• 29:29
  this morning and, you know, getting everything prepared, I'm
• 29:31
  like, what does even unclaimed same digital assets mean?
• 29:34
  Like, what are they even talking about?
• 29:36
  So here we go. Arizona's the first state in the
• 29:38
  nation to keep digital assets in their native form for unclaimed
• 29:42
  property. Following the signing of House
• 29:44
  Bills 2749 into law today. This legislation passed both the
• 29:48
  chambers of the legislature and bipartisan port, was championed
• 29:51
  by House Commerce Committee Chairman Jeff Wenninger.
• 29:55
  HB2749 updates Arizona's unclaimed property laws to
• 29:59
  account for the growing presence of digital assets, including
• 30:01
  cryptocurrencies. The law establishes is a clear
• 30:04
  process for identifying and handling unclaimed virtual
• 30:08
  property, protects the value of digital assets held by the
• 30:10
  state, and creates a reserve fund that may be used for future
• 30:14
  appropriations with legislation of approval.
• 30:17
  And it goes, quote, digital assets aren't the future,
• 30:19
  they're the present. This law ensures Arizona doesn't
• 30:22
  leave value sitting on the table and puts us in a position to
• 30:24
  lead the country and how we secure, manage and ultimately
• 30:28
  benefit from abandoned digital currency.
• 30:30
  We build a structure that protects property rights,
• 30:33
  respects ownership, and gives the state tools to account for a
• 30:36
  new category of value in the economy.
• 30:38
  It's exactly the kind of policy we should be leaning on.
• 30:41
  Modern, precise and built with an understanding of where
• 30:44
  technology and finance are heading.
• 30:46
  And just to wrap this up, he goes.
• 30:48
  Under the new law, digital assets are presumed abandoned if
• 30:52
  the rightful owner fails to respond to communications over a
• 30:55
  a three-year period. Once deemed abandoned, holders
• 30:58
  must deliver the digital assets to the Department of Revenue in
• 31:02
  their native form. The state's qualified custodians
• 31:04
  are authorized to stake these assets to earn rewards or
• 31:07
  receive airdrops. Any stake and rewards or AirDrop
• 31:10
  assets will be deposited into the new Bitcoin and Digital
• 31:13
  Assets Reserve Fund administered by the State Treasurer and
• 31:17
  subject to legislation appropriation.
• 31:22
  I don't know, when I hear this, it reminds me of what we saw
• 31:24
  with the strategic Bitcoin reserve on a federal level.
• 31:27
  It sounds like, you know, there are green lighting this idea of
• 31:31
  confiscating your Bitcoin so that they can, you know, steal
• 31:35
  your Bitcoin and then put it on their balance sheet.
• 31:37
  That's my read of this. But apparently everyone's taking
• 31:40
  this as kind of a win that we finally got another state to
• 31:43
  follow a strategic Bitcoin reserve bill to go through.
• 31:46
  But upon reading this, I don't, I don't think it's that bullish.
• 31:50
  You know, call me crazy. Maybe this is just my bias here.
• 31:53
  But yeah, Uncle Rockstar, what's your take on this?
• 31:56
  Yeah, The thing is that this is where I clash with Dennis
• 32:00
  because I love Dennis Porter. Sorry, but now I'm on record
• 32:04
  recorded it. I I love Dennis Porter and I'll
• 32:08
  need to dress penis daughter as well, I guess in due time.
• 32:11
  But no with this, The thing is this Bill does not provide a
• 32:16
  path to purchasing digital assets.
• 32:19
  It like provides a path to essentially it's a temporary
• 32:25
  reserve that Arizona has this like abandoned property statue
• 32:30
  and then this now includes digital property and provides
• 32:35
  guidance for custody. The thing is, from what I know
• 32:39
  of, after a three-year holding period, these assets are to be
• 32:42
  sold. So it's definitely not a
• 32:47
  strategic Bitcoin reserve. And I've, I think it, it's kind
• 32:53
  of, I, I wish we didn't advertise it as that because
• 32:57
  it's definitely not the same. But kudos to Satoshi, Satoshi
• 33:04
  Action Fund for trying to push the ball forward.
• 33:07
  It's just that it would have been much better if they didn't
• 33:11
  advertise it as a strategic Bitcoin Reserve bill.
• 33:14
  Yeah, I I would totally agree with that.
• 33:16
  And all right now moving forward, we got another Bitcoin
• 33:19
  bill. This one's coming through from
• 33:21
  Oregon. This isn't a strategic Bitcoin
• 33:23
  reserve bill, but bill SB167 has been signed into law and the
• 33:28
  bill provides clarity on how digital assets are treated
• 33:31
  example legally recognized as collateral.
• 33:34
  So I'll read the summer real quick.
• 33:36
  And then we have another one that I, I also was reading and
• 33:40
  it's interesting. So SB167 integrates digital
• 33:43
  assets it's into the UCC primarily through Article 12,
• 33:47
  which governs controllable electronic records like crypto
• 33:50
  currencies, defining control, transfer and priority rules.
• 33:53
  Article 9 is amended to include security interest in CE, Rs,
• 33:56
  controllable accounts, payment intangibles and electronic money
• 34:00
  with control based perfection mechanisms.
• 34:02
  Other UCC articles are updated to recognize electronic records,
• 34:06
  signatures and hybrid transactions, ensuring
• 34:09
  compatibility with digital asset transactions.
• 34:12
  Transitional provisions provide one year adjustment periods to
• 34:15
  align existing interest with the new framework effective upon
• 34:18
  passage in 2025. So it looks like they're trying
• 34:21
  to push through all these different Bitcoin bells now the
• 34:24
  more interesting one that was framed as on Twitter, Missouri
• 34:29
  passes a bill to eliminate capital gains on Bitcoin.
• 34:34
  At first I'm like, OK, that sounds interesting.
• 34:38
  It wasn't specifically about Bitcoin, but it, it wasn't
• 34:41
  necessarily necessarily a click bait.
• 34:43
  It, it wasn't a lie, it wasn't a lie.
• 34:45
  It was, it was kind of truthful. So Missouri is poised to become
• 34:48
  the first US state to exempt stock sale profits from income
• 34:51
  taxes. So it's getting pushed through.
• 34:54
  But I think if this does pass, and this would be huge, this is
• 34:57
  what a lot of us Bitcoiners would would talk about.
• 35:00
  It's like, hey, if the US really wants to be the leader in
• 35:02
  Bitcoin, all they got to do is eliminate cap gains and treat
• 35:05
  Bitcoin as money. And that's how we become the
• 35:08
  Bitcoin superpower of the world. So investors who profit from
• 35:11
  selling stocks, real estate and other assets soon could reap an
• 35:14
  even larger benefit in Missouri, which is poised to become the
• 35:17
  first US state to exempt capital gains from its income tax
• 35:20
  legislation. That one final approval
• 35:22
  Wednesday would halt the capital gains taxes here for individuals
• 35:25
  and could eventually eliminate it for corporations if state
• 35:28
  state revenues keep growing, though proponent hold on.
• 35:32
  There's a oh, there's a there's a point in here where they
• 35:35
  specifically go. All right, so you can see, well,
• 35:38
  you know, what are capital gains?
• 35:39
  Capital gains are profit from the sale of assets such as
• 35:41
  stocks, cryptocurrencies or property.
• 35:43
  And as you can see from the framing in the beginning, it
• 35:46
  says stocks, real estate and other assets.
• 35:49
  So if this goes through and Missouri is able to eliminate
• 35:53
  capital gains tax on Bitcoin, this is the type of legislation
• 35:57
  I would want to see. This is I think would be the
• 36:00
  huge, huge story coming out. I know a lot of bit corners are
• 36:03
  talking about this, so we'll keep an eye on that, but seeming
• 36:07
  promising. I, I like Rockstar said, we got
• 36:10
  to give kudos where it is due and the fact that we're trying
• 36:14
  to push stuff forward, push the football forward and get some
• 36:17
  favorable Bitcoin regulation. You know, I, I can't really, you
• 36:21
  know, talk too much smack about it.
• 36:23
  It's not pretty. Some of this stuff is not what I
• 36:27
  would like to see. Again, just eliminate cap gains
• 36:29
  on Bitcoin and we would win. Undoubtedly.
• 36:32
  This is the, this is the big move here.
• 36:34
  But you're starting to see that ever since the New Hampshire
• 36:37
  news story, other states are trying to push through Bitcoin
• 36:40
  bills. Whether they're good or not, I
• 36:42
  don't know. I guess it only time will tell.
• 36:44
  But you can see that there, there's an effort to push these
• 36:47
  Bitcoin bills through now. So we'll see if we get any more
• 36:51
  news on actually these states or federal governments actually
• 36:54
  buying Bitcoin. But the fact that the price of
• 36:57
  Bitcoin is at 100K, I'm kind of OK with them dragging their feet
• 37:01
  here so that everyone else can buy Bitcoin before they start
• 37:03
  pumping the price up. So hey, as I've been saying, the
• 37:07
  real separation of money and state is a price running.
• 37:09
  So these States and nation states can't actually buy
• 37:12
  Bitcoin. So if you're watching this and
• 37:15
  you haven't, you know, doubled down on your Bitcoin
• 37:17
  accumulation strategy, now might be the time.
• 37:20
  I saw a couple people say you will no longer be able to buy
• 37:24
  under .1 million Bitcoin anymore.
• 37:26
  So let's hope we don't jinx that, but it looks like we might
• 37:30
  be seeing start of the bull run, or rather the last leg of the
• 37:33
  bull run without the state and the nation states buying Bitcoin
• 37:38
  or the state government and the federal government.
• 37:40
  We all know institutional capital is coming in.
• 37:42
  They're very bullish on Bitcoin. But it's about you, the
• 37:46
  individual holding the best money in the world in cold
• 37:49
  storage so you can control your money.
• 37:51
  That's what we're here for. That's what we want to see.
• 37:54
  OK, ranch it enough. Let's go to Luke first.
• 37:59
  Luke, what's your thoughts on all these bills?
• 38:01
  Is it a coincidence that they followed New Hampshire?
• 38:03
  What's your thinking around this process?
• 38:06
  So I like to just zoom out from the noise.
• 38:09
  I just think in five years, every single state, every single
• 38:12
  nation state is going to be forced to have some sort of a
• 38:15
  Bitcoin strategic reserve. I just think it's inevitable.
• 38:17
  And I just think the dominoes that we are starting to see full
• 38:21
  today is just kind of proof that I think things are going to, you
• 38:24
  know, accelerate from here to there.
• 38:26
  I don't know what's going to happen in the interim.
• 38:28
  I'd never like to look at things in the short term or even the
• 38:30
  medium term. I just think in the long term or
• 38:33
  even the medium term, let's let's get more bullish in the
• 38:36
  medium term. Most people are simply too
• 38:38
  bearish on Bitcoin and they're not paying attention to all of
• 38:41
  these massive catalysts that are happening on the short term.
• 38:45
  I think a lot of people are kind of sick of the strategic Bitcoin
• 38:48
  reserve announcements. There's something like 30
• 38:50
  different nations all around the world talking about and trying
• 38:54
  to implement a strategic Bitcoin reserve, whether they're
• 38:58
  actually passed that and they're buying Bitcoin or they're trying
• 39:00
  to push bills through parliament. 30 nation states is
• 39:03
  huge. Like if you had to ask this two
• 39:05
  years ago, where would the price of Bitcoin be?
• 39:07
  If you have 30 nation states trying to create a strategic
• 39:11
  Bitcoin reserve, I would have told you we're at $1,000,000 a
• 39:14
  coin and we're here at 100,000. So I think that's the kind of
• 39:17
  asymmetry here. I think the price is not
• 39:19
  actually reflecting the underlying fundamentals.
• 39:22
  We have the largest nation state in the world and the global
• 39:26
  reserve currency issuer openly saying they want to be the
• 39:30
  Bitcoin superpower of the world. I mean, none of this stuff is
• 39:33
  priced in. So I just think on a medium term
• 39:35
  or even a long term time horizon, everybody is massively
• 39:40
  under allocated to Bitcoin and I don't think they're prepared to,
• 39:44
  you know, weather and survive how Bitcoin gets from point A to
• 39:47
  point B. Yeah, totally.
• 39:51
  As Rexana said, you know, there's been a lot of talk but
• 39:55
  not much action. And I think this is what we're
• 39:58
  seeing. You know, everyone wants to get
• 39:59
  the narrative or spin the narrative that they're, they're
• 40:02
  embracing Bitcoin, but until they're buying Bitcoin.
• 40:06
  It's all talk, man. It's all talk.
• 40:08
  Anyways, Rockstar, you want to chime in here before we get into
• 40:11
  some juicy stuff in the culture with you.
• 40:13
  Oh, absolutely, because I now Luke, as you were talking about,
• 40:21
  what is this? Whether you're optimistic long
• 40:24
  term, medium term, whatever it is, I was running a ChatGPT
• 40:29
  inquiry on like if you bought Bitcoin at any point, what was
• 40:34
  the longest time that you needed to wait until you were in green,
• 40:38
  right. And ChatGPT, say three years,
• 40:42
  which is crazy. Yeah, if if you like bought
• 40:44
  Bitcoin in December of 2017, you would need to wait until
• 40:48
  December 2020 to be in positive. And three years is not really
• 40:53
  long term. And having that kind of optimism
• 40:57
  is is great. Like having that data for your
• 41:00
  to to solidify your optimism is great.
• 41:03
  Now, maybe I am wrong and ChatGPT is wrong.
• 41:07
  Someone from the audience can also research this.
• 41:10
  But with Bitcoin, what's amazing is that you can just DCA into it
• 41:15
  and you know it will be going up and you know that you're part of
• 41:19
  the team that has Michael Saylor has Jack Dorsey, that has
• 41:24
  Cynthia Lummis, that has Nico, you know, so so I I absolutely
• 41:31
  love that. And that's my biggest take away
• 41:35
  on on thinking. Now.
• 41:37
  Do you want my take on this bills as well?
• 41:41
  Yeah, maybe just in general, I mean, you kind of already
• 41:43
  touched on it in the first one, but you know, I, I would say
• 41:47
  maybe you're, you're probably a little more hardcore than most
• 41:50
  of our audience here. So do you think even the
• 41:53
  adoption of Bitcoin from nation States and states themselves is
• 41:57
  a good thing? Was this something that you
• 41:59
  can't fight? It was like an inevitability it
• 42:01
  was going to happen anyways. I'd just like to hear your
• 42:04
  general thoughts on on that idea because it has been kind of like
• 42:07
  the current thing to be talking about.
• 42:09
  No, man, for me, I always look at everything is good for
• 42:13
  Bitcoin, Everything. It's just that for individually,
• 42:18
  for us, now that Trump is here shilling Bitcoin, obviously he's
• 42:23
  way better at it than I am. So, so I need to take my step
• 42:28
  back with public appearances and it's just my public appearances
• 42:33
  of shilling Bitcoin will not be nowhere near as good as Trump's
• 42:37
  or Luke's. Like Luke is much better faced
• 42:40
  than uncle is. And I, I think we should all
• 42:43
  embrace that because then you as a Bitcoin bitcoiner, you have
• 42:48
  more free time. You can, you know, do other
• 42:51
  stuff other than be online and try to get people into Bitcoin
• 42:56
  and orange build them. And in that sense, yeah, all
• 43:00
  these bills that are happening, like they're great.
• 43:03
  They're good for Bitcoin from my perspective, and we should
• 43:08
  embrace that as bitcoiners. If you are now saying that
• 43:11
  people are accusing you of having to like click baby
• 43:14
  titles, well, you know what people simply Bitcoin crew here,
• 43:21
  you're scamming people into profits.
• 43:23
  So to go next level with click bait titles because unlike this
• 43:29
  clickbait titles that lead people into this whole luxury
• 43:33
  lifestyle of a influencer on YouTube like that doesn't give
• 43:37
  anything to their audience. With your clickbait titles,
• 43:40
  people are getting into Bitcoin, you're scamming them into
• 43:43
  profits. So more power to you.
• 43:47
  I love that we are scamming you into hard money.
• 43:51
  It could be worse guys, it could be worse bad Rockstar, I love
• 43:57
  you. I absolutely love you.
• 43:58
  All right guys, so and the culture Uncle Rockstar wants to
• 44:02
  announce something super huge that's coming up.
• 44:04
  But since I have what you know, a developer here and there's
• 44:07
  still the whole, you know, core op return controversy going on.
• 44:11
  There was just a debate at Bitcoin plus plus yesterday.
• 44:14
  I have a little clip from that. I want to get Uncle Rockstar's
• 44:17
  thoughts on this stuff so we can talk about it a little more, and
• 44:20
  then really hit on something that I think is really special
• 44:23
  that Uncle Rockstar wants to announce for you guys today.
• 44:25
  So let's get into all that. I want to give a shout out to
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• 46:29
  All right guys here we are and shouts out to ARP, ARP €5 super
• 46:34
  chat. He goes it's perfect Segway not
• 46:36
  first core debate. Where do you stand?
• 46:39
  Well, I'm glad you asked the question because we are going to
• 46:42
  chat about it right now. So as I was saying, there was a
• 46:45
  conference Bitcoin plus plus I'm pretty sure it was an Austin.
• 46:48
  There was a great like Oxford style debate last night.
• 46:51
  I'd highly suggest you watch the whole thing.
• 46:53
  There was they were basically talking about this all day.
• 46:57
  And of course, at the interest of time, I, I couldn't bring you
• 47:00
  the whole debate here, but there was a pretty good clip going
• 47:03
  around on Twitter. This is coming from our boys
• 47:05
  over at TFTC. And so I'm just going to play
• 47:07
  this and then we're going to get Uncle Rockstar's take because I
• 47:10
  would say he probably has a better grasp of what's going on
• 47:13
  here, can explain it to you guys.
• 47:15
  So here is the video and the tweet is, is Bitcoin spam
• 47:19
  subjective? And you can see all the key
• 47:21
  figures here that are, you know, at the heart of this
• 47:23
  controversy. You're on stage talking about
• 47:26
  this. So I'll play this and then we
• 47:27
  will chat about it and then Uncle Rockstar is going to
• 47:30
  announce something awesome for you.
• 47:31
  Spam is spam subjective? Is spam subjective?
• 47:34
  Yes, yes. Can we evoke?
• 47:36
  Is spam subjective or is it I say, subjective?
• 47:39
  Subjective difference. I'd love to hear this, Luke.
• 47:43
  Tell us more. Bitcoin's design allows miners
• 47:46
  to put up to 95 bytes per block of arbitrary data in the coin
• 47:51
  base. That is completely different
• 47:53
  from spam, which is encoding this arbitrary data to look like
• 47:56
  something it is not. To deceive nodes and to
• 47:59
  accepting it completely different.
• 48:01
  It's very different. We've never had a problem with
• 48:03
  people writing Ant pool in a coin base.
• 48:05
  It's fine. No one has a.
• 48:07
  Problem you said deceiving someone into into them thinking
• 48:10
  it's what it's not, but surely then there's just a perception
• 48:13
  issue. It's not and it's not really.
• 48:14
  That's not really a technical judgement, is it?
• 48:17
  That's. Simpson's been waiting for a
• 48:19
  minute. Transaction.
• 48:20
  It will be rejected by every single node.
• 48:22
  You have to obfuscate it and make it look like something it's
• 48:25
  not to make it accepted. Sure, sure.
• 48:27
  So. How can Is there an objective
• 48:29
  way to tell if someone's lying? It's been waiting for a minute.
• 48:32
  Well, come on. OK, James, look.
• 48:34
  This debate is fascinating because we have one side that is
• 48:40
  being the autistic technical people and the other side that
• 48:44
  is being, you know, more ideological and, and each side
• 48:48
  will refuse to admit that, you know, the technicals will say
• 48:51
  which side is which, the logical debate.
• 48:55
  The ideologicals will refuse to admit this is a technical day.
• 48:58
  I think it's fascinating, though, that there is overlap.
• 49:01
  Can we get a quick show of hands?
• 49:03
  Who? On stage wants to see jpegs in
• 49:06
  the blockchain. Are the jpegs actually in the
• 49:09
  blockchain? I think like there is consensus
• 49:16
  that we all agree that there is some absolutely ridiculous stuff
• 49:20
  being put in the block. I couldn't care less to let them
• 49:22
  pay the fees. I think this is I think Shinobi
• 49:25
  was right earlier he said this is about economic incentives.
• 49:27
  The moderate let them pay the fees and you have to if if you
• 49:30
  want to if you want to see certain kind of transactions in
• 49:33
  the in the you know, in the the men pull or in the blockchain,
• 49:38
  then you need to have economic incentives that drive those
• 49:43
  kinds of transactions to out price other kinds of
• 49:46
  transactions. Am I wrong?
• 49:48
  I'd say actually kind of yes, because this idea of out pricing
• 49:53
  things doesn't actually go work in ways that necessarily we
• 49:56
  would want. Agreed.
• 49:58
  And but we just have to accept that, you know, this is how
• 50:01
  Bitcoin works and you might not like the fact that people can
• 50:04
  make a ton of money off ordinals with much bullshit hype.
• 50:08
  And all you can realistically do is design, for instance, better
• 50:11
  L twos so that fee spikes don't matter.
• 50:14
  I mean, I was affected with, you know, speeds going up because of
• 50:16
  course, I run open time stamps, calendars, which incidentally
• 50:19
  put data in the chain, arbitrary data, arbitrary data.
• 50:23
  And it cost me a lot of money in fees.
• 50:26
  It meant that my time stamping was slower.
• 50:28
  But so you're PC? Man, maybe you should.
• 50:30
  Fix it. So that it doesn't add that
• 50:32
  data. It doesn't need to add data.
• 50:34
  We've got Taproot, we've got paid to contract stuff.
• 50:37
  And IO reasons and choices and open time stamps to go and use
• 50:42
  addition additional data in the chain precisely because of
• 50:46
  various technical things that you know don't make sense in my
• 50:49
  trade-offs. Also the fact I have a
• 50:51
  transaction that I need to make is adding data to the chain,
• 50:54
  even if it may not be obvious. I mean I need to make these
• 50:57
  transactions like that. It doesn't matter how the hell I
• 51:00
  encoded it. That is adding quote UN quote
• 51:02
  spam. It's non financial transactions.
• 51:06
  OK guys, so we got that here. Now I'm going to pass it over to
• 51:10
  Uncle Rockstar. The the one thing I do kind of
• 51:12
  want to mention, and I hate to be the like body language guy
• 51:15
  here, but it is interesting how Mechanic and Luke are like the
• 51:18
  most serious ones on stage and everyone's kind of messing
• 51:21
  around, you know? I don't know if that's saying
• 51:24
  something or what, but I just found that to be the most
• 51:27
  interesting. This technical discussion, I'll
• 51:29
  be completely frank with you guys, is totally above my pay
• 51:32
  grade here, hence why I brought this up with Uncle Rockstar
• 51:36
  here. So Uncle Rockstar Dev, maybe
• 51:40
  just do a little recap or you know, what's your thoughts on
• 51:42
  this whole core versus knots debate?
• 51:45
  We have seen that people are switching from core to knots.
• 51:48
  I think it's up to like 7 or 9% of people have switched over or
• 51:52
  it went from like 3% of people using knots to like 7 or 9 now.
• 51:56
  So it has caused an uproar in the Bitcoin community or rather
• 52:02
  amongst node runners. It's obviously the new current
• 52:04
  trend. It's the whole contract
• 52:06
  controversy. It's a main controversy going on
• 52:08
  right now. So Uncle Rock star, the floor is
• 52:10
  yours. Maybe sum this up and or give
• 52:13
  your thoughts on what's going on.
• 52:16
  I mean, I don't even know where to start, to be honest, because
• 52:22
  one thing that I do love about current debate is that it's
• 52:26
  energizing everyone. And that's the biggest thing
• 52:30
  that I love, that the biggest thing that I dislike about
• 52:34
  debate is that we are now segmenting into this camps where
• 52:40
  increasingly people are excluded because they're not a certain
• 52:46
  status. So what you were saying like
• 52:48
  this is above your pay grade as a Bitcoiner.
• 52:52
  You may have an opinion that you are not experienced enough for,
• 53:00
  you don't have a knowledge on something in order.
• 53:03
  So so you say, OK, like I shouldn't be discussing this.
• 53:06
  But what's really problematic for me is that we are going into
• 53:10
  these levels where certain people are saying like, OK, I am
• 53:15
  Bitcoin Core developer, hence I am above you, you know, 30
• 53:20
  plebs. And when I talk, you actually do
• 53:23
  not understand what I'm talking about.
• 53:26
  Another great thing about this debate is that I I saw that
• 53:29
  people understand what is UTXO set, what is growth of UTXO set
• 53:36
  compared to growth of blockchain size of up return going directly
• 53:43
  in block. While the signature is the way
• 53:45
  that ordinals embed them, they go into witness section with
• 53:51
  data. And that the problem we have
• 53:54
  there is that we're still increasing UTXO set.
• 53:57
  So if I, if I may sum sum up everything that I'm saying is
• 54:03
  like, I do want to see more debates like this one where
• 54:08
  people are sitting next to each other and talking to each other
• 54:12
  rather than, you know, we post online and then you have me
• 54:18
  posting something, then Luke responds, then Lop responds and
• 54:23
  then we have Luke yelling that, you know, we are being raped by.
• 54:28
  But you, you know, jpegs that had people spamming us and Lop
• 54:32
  robbing it in our face and whatnot.
• 54:35
  I don't know if you saw that tweet.
• 54:37
  Yeah, yeah, I've been, I've been trying to follow along because,
• 54:41
  you know, again, it's like my job to at least summarize you
• 54:45
  the controversy for people to make up their own minds.
• 54:48
  But to to ask you, Uncle Roxburgh, because I I, like you
• 54:50
  said, I'm basically just reading Twitter and I'm just trying to
• 54:53
  parse through all these different tweets and it gets
• 54:56
  crazy. So I was very happy you to see
• 54:58
  this Oxford Oxford style debate yesterday so you can see
• 55:01
  everyone sitting, you know, semi cordial instead of just, you
• 55:04
  know, hurling insults at each other on Twitter.
• 55:07
  But my question to you is, is, is this controversy, I think as
• 55:14
  as people are kind of feeling it out, like is this controversy as
• 55:18
  catastrophic as everyone is making it out to be?
• 55:21
  Or is this kind of like a blown out of proportion debate going
• 55:25
  on right now? It really depends from which
• 55:30
  side you're looking at it, because the biggest thing for me
• 55:37
  again is, is this separation and segmentation of different levels
• 55:43
  of people. Because labs that are
• 55:46
  participating in the conversation, a lot of them have
• 55:50
  a, a, a good hunch and, and, and good approach and they are
• 55:55
  contributing to debate in a good manner.
• 55:59
  Luke said during this episode that block size wars were about
• 56:05
  ensuring that Bitcoin cannot be changed by rich or by some kind
• 56:11
  of rulers. You know, and what we are seeing
• 56:15
  now is that Bitcoin core is, is essentially forcing the issue.
• 56:22
  Yeah. If I may share, you see it on my
• 56:26
  screen, right? Yeah.
• 56:27
  Yeah, I got you. Is like essentially a regardless
• 56:31
  of everything that you guys are saying, next release will relay
• 56:36
  in mind transactions was off, return is over 80 bytes.
• 56:39
  So like that's it. Yeah, doesn't matter what you
• 56:43
  say. So Fractal Encrypt had this
• 56:46
  great meme right Where, and, and that's really what worries me
• 56:52
  the most is because, OK, that's merged in Bitcoin Core, who runs
• 56:57
  this? Because it, it's it's us that
• 57:02
  are running our nodes that we disagree with this direction,
• 57:06
  yet it's forced upon us. So I would love if there was
• 57:11
  more sensibility from Bitcoin Core and people within Bitcoin
• 57:18
  Core and people that are in these conversations that are
• 57:21
  happening with companies like Citria that it's like, OK, let's
• 57:26
  let's look for better ways for you guys to embed arbitrary data
• 57:31
  into blockchain. Wait.
• 57:35
  Wait, wait, Uncle Rockstar, can you put that meme up so I can
• 57:39
  read it for the audio listeners? So guys for, for the audio
• 57:42
  listener look guys, I even got a meme review on here for you
• 57:44
  guys. It's the meme of like the
• 57:46
  aristocrats looking down from, you know, their, their patio or
• 57:50
  their, you know, their ledge here.
• 57:52
  And it goes Bitcoin cores. The next release will by default
• 57:55
  relay in mind transactions whose op return outputs exceed 80
• 57:59
  bytes and allow any number of these outputs.
• 58:02
  So there's a meme for the audio listener listeners.
• 58:05
  Yeah, I, I think I, I totally agree.
• 58:07
  And as we had a comment here B sub my wingman says the debate
• 58:11
  is good for education. And like you said, Rockstar, the
• 58:14
  fact that we're having this debate, I think is good to kind
• 58:17
  of get everyone up to speed. And I, I think they're still,
• 58:21
  we're still kind of figuring out how this, how this plays out.
• 58:25
  Because I did see in the Oxford style debate, you know, Peter
• 58:28
  Todd kept saying something similar or something on the
• 58:30
  lines like if there was a better way to do this, we would do
• 58:33
  this. There just isn't.
• 58:34
  And you know. But there is.
• 58:37
  Yeah. And mechanics saying the other
• 58:38
  one's like filters work. So this is like the whole debate
• 58:41
  going on right now, I think. No, as as a developer I can tell
• 58:45
  you right away how technically this can be done is if you
• 58:50
  standardize the rotamore like those ordinal style inscription
• 58:56
  template and instead of doing OP return where the data goes
• 59:01
  directly into block, you redirect that data into witness
• 59:05
  section. That would allow people that
• 59:08
  don't want to host ordinals or these anchors or what not to.
• 59:13
  Once their validation of the note is done, they can prune all
• 59:20
  that stuff not only from the UTXO set, which is extremely
• 59:23
  important, but from their hard hard disk as well.
• 59:27
  With other witness data that's no longer needed once you built
• 59:31
  up the UTXO set. But again, This is why if if
• 59:36
  other people were included in discussion, other developers
• 59:40
  that are beyond this, did this core, current core circle, they
• 59:47
  could have contributed to it. Unfortunately, they didn't.
• 59:50
  Then I again hope that this is not merged exactly because there
• 59:55
  are better solutions that people can look into.
• 1:00:00
  Got it. Love it, Rockstar.
• 1:00:01
  Well, really appreciate you talking about that.
• 1:00:03
  Let's move on to the more fun stuff here.
• 1:00:06
  I know the controversy is is the the current topic and everyone's
• 1:00:10
  freaking out on Twitter, everyone's swinging, you know,
• 1:00:12
  insults at each other on Twitter.
• 1:00:15
  It's become the the, you know, all the rage right now.
• 1:00:17
  But let's talk about what you wanted to come and talk about
• 1:00:20
  today. Thank you for doing that.
• 1:00:23
  As someone that is a little more technical than I am here.
• 1:00:26
  What are you working on? You told me before the show that
• 1:00:30
  you really want to talk about Bitcoin as money and that you
• 1:00:33
  guys are shooting to break a Guinness World Record.
• 1:00:37
  So what is all this about? Yes.
• 1:00:39
  So in this whole OP return debate, there is there is a big
• 1:00:44
  theme is like let's use Bitcoin as money.
• 1:00:46
  So this is related it it is let's let's do it.
• 1:00:50
  Let's use Bitcoin as money at the Bitcoin conference in Las
• 1:00:54
  Vegas. And I love to say like if it is
• 1:00:58
  a Bitcoin conference, you got to be able to pay with Bitcoin.
• 1:01:01
  So anyone that's coming to Las Vegas May 28th will be able to
• 1:01:07
  participate in this. Get your, you know, lightning
• 1:01:11
  wallets ready, get your Bitcoin wallets ready.
• 1:01:14
  And if if you're buying anything at the conference, you are
• 1:01:18
  participating in setting a Guinness World Record for most
• 1:01:23
  Bitcoin transactions in a single day at in, in, in person event.
• 1:01:28
  So yeah, be part of the history. And then if you don't have any
• 1:01:33
  sets or anything like find me find find Uncle Rockstar and I'm
• 1:01:38
  going to give you one of these bolt cards because there will be
• 1:01:44
  available in official conference store for 10 bucks.
• 1:01:48
  But you know, you're like, no, no, no, I don't want to invest.
• 1:01:52
  In 10 bucks. I I want to ride 3 like I'll
• 1:01:55
  find Rockstar. I'll I'll give you one of these
• 1:01:58
  Laser I cards and I can actually premiere one of the designs
• 1:02:06
  because there are four designs. One of them is Satoshi, you
• 1:02:10
  know, to feature cypherpunks, but three other are Michael
• 1:02:15
  Saylor, Jack Dorsey and Senator Cynthia Lummis.
• 1:02:19
  So hopefully people are able to collect all four and then we we
• 1:02:25
  will have Michael Saylor actually doing a transaction and
• 1:02:29
  who says that Michael is not in medium of exchange?
• 1:02:32
  Come on. So, so yeah, let me let me see
• 1:02:36
  if I can bring up graphic, but that's what's going on.
• 1:02:39
  And again, anyone from audience that's watching this and it's
• 1:02:42
  coming to Las Vegas like let's go.
• 1:02:44
  I will be with Niko and Opti and then simply Bitcoin crew.
• 1:02:48
  So we gonna do we gonna do transactions as well.
• 1:02:51
  Let's go. Awesome.
• 1:02:53
  Well, do you know what the what do you call it?
• 1:02:56
  What is the number of transactions that you have to
• 1:03:00
  make to beat the Guinness World Record?
• 1:03:03
  So this is what Guinness is now researching because we also want
• 1:03:11
  to give shout out to previous events that that were focused on
• 1:03:15
  Bitcoin as as medium exchanges money like Baltic Honey Badger
• 1:03:19
  and then Bitcoin Atlantis did, did, did a great job last year
• 1:03:25
  with with Bitcoin as money. So they're researching, but it
• 1:03:28
  should be around like several 1000.
• 1:03:31
  They will have the exact number and we'll announce it before the
• 1:03:35
  conference starts. So, so we know what is that the
• 1:03:38
  goal. And then The thing is that this
• 1:03:40
  is a community record. Like it's, it's not Uncle
• 1:03:44
  Rockstar's record or what not. And I really hope once it's
• 1:03:47
  established in Guinness World Record book that other events,
• 1:03:52
  other conferences, they they break it that they said it again
• 1:03:57
  and like higher and higher. So really excited about that.
• 1:04:01
  Yeah, that's awesome. And and just to just to clarify
• 1:04:03
  here, it's just about using Bitcoin to transact.
• 1:04:08
  It doesn't necessarily need to be with, you know, the cards
• 1:04:11
  that you're selling. It's just using Bitcoin.
• 1:04:14
  So make sure you guys set up your Bitcoin wallets beforehand.
• 1:04:18
  If you're going to Las Vegas and participate in this.
• 1:04:21
  It's not just, you know, rocks Uncle Rockstar here shilling his
• 1:04:25
  products. It's about you guys using
• 1:04:28
  Bitcoin. So just wanted to make that
• 1:04:30
  clear here. Yes, spend and replace.
• 1:04:33
  You know, spend and replace. Let's go.
• 1:04:36
  OK, let's do one one last caveat here.
• 1:04:41
  I I would like to hear Uncle Rockstar talk about Bitcoin as
• 1:04:45
  money. I know that's kind of like this
• 1:04:48
  is part of this off return debate is that debate of what
• 1:04:52
  like is Bitcoin money? Is Bitcoin, you know, just a
• 1:04:55
  data storage network. So and then you know, we've been
• 1:04:59
  talking about it throughout the show, this idea of Bitcoin ads
• 1:05:02
  money. So maybe right, right when we're
• 1:05:05
  wrapping up, could you do a little TLDR elevator pitch of
• 1:05:09
  Bitcoin ads money And this is what we're all doing here.
• 1:05:13
  I think if Bitcoin ends up being, you know, decentralized
• 1:05:20
  database storage, yeah, I, I will not be excited by, by it.
• 1:05:26
  And I don't think 99% of Bitcoiners will be excited by it
• 1:05:30
  either. People that were excited about
• 1:05:32
  it, they they move to Bitterium or something.
• 1:05:37
  If a Bitcoin ends up just being store of value so that those of
• 1:05:43
  us that are rich, we become richer again, I think Bitcoin
• 1:05:48
  has failed. I think Bitcoin only fulfills
• 1:05:51
  its promise if it becomes the next, you know, iteration of
• 1:05:59
  money and allows us as humanity to go to the next level because
• 1:06:03
  money. Money is great as a tool for
• 1:06:06
  truth. You shouldn't worship money, but
• 1:06:09
  you should definitely use money as a tool to point you towards
• 1:06:14
  the truth because we all know experiences when we have
• 1:06:17
  something and we're like, this is amazing.
• 1:06:19
  And others around us are saying, oh, it's amazing as well.
• 1:06:23
  And then you ask them, OK, like I'll give you this, you give me
• 1:06:25
  $10. And they're like, no.
• 1:06:28
  So money is a tool for truth. And I think again, Bitcoin only
• 1:06:33
  succeeds if it is money. And yeah, that's, that's my
• 1:06:38
  stance on it. I would love to hear Luke's
• 1:06:40
  stance on this. Yeah, my stance is a simple one
• 1:06:46
  that comes with a simple caveat. I'm a 28 year old loser with a
• 1:06:50
  terrible haircut and I am not a technical expert, but I just
• 1:06:53
  think Bitcoin is like Rockstar said, it's money.
• 1:06:56
  It's supposed to be money. I personally, again, I love the
• 1:07:00
  permissionlessness aspect about Bitcoin.
• 1:07:03
  I love that the rules can't be changed, they can't be bended.
• 1:07:07
  If I had my personal preference though, I don't want to be
• 1:07:10
  paying $500 fees because some idiot is jamming jpegs into the
• 1:07:15
  blockchain. I'm much more comfortable paying
• 1:07:18
  $500 fees in the future because billions of people are using
• 1:07:22
  Bitcoin as money. That's just my personal
• 1:07:25
  preference. Again, I do think eventually we
• 1:07:28
  will be paying hundred dollar, $500 thousand dollar fees to get
• 1:07:32
  our transactions into the next block of Bitcoin.
• 1:07:35
  I would just prefer that that day comes a little bit further
• 1:07:38
  in the future. And again, my preference is that
• 1:07:41
  it comes purely because Bitcoin is succeeding as money.
• 1:07:44
  But again, that's just my personal preference.
• 1:07:47
  I love the fact that we can't change Bitcoin and it is very
• 1:07:49
  permissionless. Permissionless less.
• 1:07:53
  Is that how you say that? That's a hard word to say on the
• 1:07:55
  live stream. But again, that's just that's
• 1:07:57
  just my opinion on the topic. I don't have a strong opinion on
• 1:08:00
  it because I'm not a technical expert in Bitcoin.
• 1:08:03
  Yeah, yeah, I'm a I'm a monetary maxi here.
• 1:08:05
  I, I think of Bitcoin as money. I, you know, as much as the the
• 1:08:11
  kind of meme of Bitcoin is simply just a database and you
• 1:08:15
  know, you can jam whatever messages you want in it.
• 1:08:18
  I am. I'm definitely more on the side
• 1:08:21
  of I want the the monetary network to be purely monetary
• 1:08:27
  transactions. That's my take on all this
• 1:08:29
  stuff. I'm here for Bitcoin as money.
• 1:08:31
  And I think like Rockstar said, if Bitcoin, you know, morphs
• 1:08:35
  into just being a decentralized database storage network, that's
• 1:08:40
  not why we're here. Like, yeah, you know, maybe the
• 1:08:43
  price would go up. I don't, I don't even think the
• 1:08:45
  price would go up if that were the case, if Bitcoin just turned
• 1:08:48
  into a database. I think everyone here, if
• 1:08:50
  they're kind of truthful and I know it's like I'm, I'm getting
• 1:08:53
  reminded of what Jameson Lobb said.
• 1:08:56
  He's like, there's an autistic technical side and a more
• 1:08:59
  ideological side. And I don't know which side I
• 1:09:01
  fall into here, but I, I look at Bitcoin as a monetary network
• 1:09:05
  and I want the, I want all the transactions to be, you know,
• 1:09:09
  peer-to-peer transactions of money.
• 1:09:11
  I, I think that's what we were here to do.
• 1:09:14
  So I do find it interesting though, Like I, I do like that
• 1:09:17
  this debate is coming up and, and happening because it is
• 1:09:20
  making me have to like sharpen my sword here and sharpen my
• 1:09:23
  know how. You know, every couple of years
• 1:09:26
  you think you know everything about Bitcoin and then something
• 1:09:29
  happens and then you have to, you know, force yourself to make
• 1:09:32
  a decision because it is all about individuals here.
• 1:09:35
  This is about you running your node and what you want in your
• 1:09:37
  node. And that's the important thing.
• 1:09:40
  As much as I've been kind of saying, and me and Luke are kind
• 1:09:43
  of both tongue in cheek saying this is above our pay grade,
• 1:09:46
  we're not that technical. At the end of the day, we will
• 1:09:49
  be forced to having to run our nodes, you know, whether that's
• 1:09:52
  choosing knots or core. We will have to pick what node
• 1:09:56
  we want to run. And that will, you know,
• 1:09:59
  inevitably lead to what's going to happen further down the road.
• 1:10:02
  So this is a personal decision, but I'm I'm also on the monetary
• 1:10:06
  side. I'm I'm a, I'm a monetary maxi.
• 1:10:08
  I think Bitcoin is money. I want to keep it as money.
• 1:10:10
  And you know, I'm just doing my part here.
• 1:10:12
  Am I, am I that narcissistic where I think I'm going to
• 1:10:16
  fundamentally change this conversation?
• 1:10:18
  No, but I want to talk about it and bring it up on the show so
• 1:10:21
  that we can all have this conversation.
• 1:10:22
  But you will. That's that's the biggest point
• 1:10:25
  that I want to make is that of course, you're not the technical
• 1:10:31
  and you can directly open PRS, but you look at developers that
• 1:10:36
  are crying that they don't have the reach that you have with
• 1:10:39
  simply Bitcoin and being on YouTube.
• 1:10:42
  So, and again, the the best thing about Bitcoin are
• 1:10:47
  Bitcoiners. So when that PR was opened, a
• 1:10:51
  lot of Bitcoiners were like, oh, you know, there is something
• 1:10:53
  behind this and there is something behind this in a sense
• 1:10:57
  of Cytria and other VC funded companies that are getting into
• 1:11:01
  Bitcoin that are, you know, rich and influential.
• 1:11:06
  And that what's happening here is Bitcoin, if this goes through
• 1:11:11
  is changed, do we want this as Bitcoiners, yes or no?
• 1:11:18
  So that part should also be debated rather than just getting
• 1:11:24
  a blank statement where like, OK, in next release of Bitcoin
• 1:11:27
  Core, this is how it will be. So again, what what I invite is
• 1:11:33
  like everyone that's in Bitcoin, say what you see and participate
• 1:11:39
  in discussion, of course, in a respectable manner so that you
• 1:11:43
  don't go full like be cash or Bitcoin Satoshi's vision where
• 1:11:49
  you get pissed and then you fork like, yeah, BSV, man, it was
• 1:11:54
  like a a fork of a shit coin. Terrible.
• 1:11:58
  So did yeah, don't don't let your emotions guide you in a bad
• 1:12:03
  place, but definitely participate in the discussion,
• 1:12:06
  especially if you are a Bitcoiner that's successful in
• 1:12:10
  like not developing stuff, but communicating with other
• 1:12:14
  bitcoiners, promoting Bitcoin and as you said, scamming people
• 1:12:18
  with clickbait titles into profits.
• 1:12:21
  That's that's good thing, man. Like Congrats for getting
• 1:12:25
  people's holdings up and assets. Let's go.
• 1:12:29
  Look, if you take anything away from this, we got the stamp of
• 1:12:33
  approval from Uncle Rockstar to continue to be click bait
• 1:12:36
  scammers and making you buy and stack as much Bitcoin as
• 1:12:39
  possible. So I absolutely love that.
• 1:12:42
  Actually, one last question, Uncle Rockstar putting this kind
• 1:12:46
  of this debate in context, is this, you know, the 2025 version
• 1:12:51
  of the block size wars in 2017? Because we're starting to see it
• 1:12:54
  is kind of fragmenting a little bit here and and people are
• 1:12:57
  picking their camps here. Is this you know, going to be
• 1:13:01
  come or is it turning into the next USAF or UASF?
• 1:13:08
  User activated Yeah yeah, UASF Exactly, exactly.
• 1:13:13
  I mean it's it's not that level, but I I don't think there will
• 1:13:18
  be big forking happening here. It's just that if new release a
• 1:13:25
  Bitcoin Core just unilaterally goes with with this, then people
• 1:13:31
  not run it. There will be a significant
• 1:13:32
  percentage of people not running it.
• 1:13:34
  And you can look up statistics of Bitcoin Core versions.
• 1:13:38
  There is increasingly hesitancy to upgrade.
• 1:13:43
  And you know, even if you're on version 26 of Bitcoin Core right
• 1:13:47
  now, you're good. So this version is getting
• 1:13:51
  released as well, like 29 or something 8.
• 1:13:53
  So there are several major releases you can run.
• 1:13:57
  It is just, it will be a signal that we should monitor and then,
• 1:14:03
  you know, see how, what, what clients people will run.
• 1:14:07
  Because if knots gets over 10% of usage, that's extremely
• 1:14:12
  significant. And, and I would love to say
• 1:14:15
  that's a good path, but what worries me with knots is that
• 1:14:19
  Luke is a single maintainer. So he's just publishing to
• 1:14:23
  Master Branch and yeah, I, I, I don't see that sustainable.
• 1:14:29
  So, so yeah, we'll see. But I, I also don't see that,
• 1:14:34
  that we will have big forks like BCH and Roger Ver talk crying
• 1:14:40
  about the babies dying. And yeah, we will.
• 1:14:43
  We're we're not to that level. Good times.
• 1:14:48
  Wow. Yeah.
• 1:14:49
  What throwback, throwback times here.
• 1:14:51
  But yeah, man, I, I think, I think I'm, I'm with you 100%.
• 1:14:56
  It is it, it does seem like it kind of got a little overhyped
• 1:15:01
  and you know, it, like I know it, like we said earlier,
• 1:15:05
  depends on what side of the aisle you are on.
• 1:15:07
  Maybe you think this is, you know, the biggest apocalyptic
• 1:15:11
  moment or the other side. It's like it's happening
• 1:15:13
  anyways, you know, we're just trying to clean up the code
• 1:15:15
  base, but it does seem like everyone kind of got emotional
• 1:15:20
  about it on Twitter. And hopefully now after a week
• 1:15:23
  or so, clear heads are prevailing.
• 1:15:25
  And you know, personally, like I haven't updated my note and I
• 1:15:29
  don't even know how many updates, like at least three
• 1:15:31
  updates. I'm one of those where a new, a
• 1:15:34
  new update comes out and I'm like, yeah, I'm going to wait
• 1:15:36
  like a year or so until I fully figure out what's going on.
• 1:15:40
  Like I don't update my Bitcoin Core node like right when it
• 1:15:44
  comes out. I I wait a little while so.
• 1:15:46
  Because you, you as a user of Bitcoin, you're like, OK, dev's
• 1:15:51
  cleaned up a code base. What does that do to do for you?
• 1:15:55
  Nothing, man. And they're like, OK, if you
• 1:15:59
  upgrade now, you would be able to relay up return transactions
• 1:16:03
  under 80 bytes. Is you're like, no, I don't want
• 1:16:05
  to participate in that because I don't want to move Bitcoin
• 1:16:10
  towards being like one big decentralized database.
• 1:16:13
  I want to send signal that for me, Bitcoin is money.
• 1:16:17
  So this is again where I urge my fellow developers to not maybe
• 1:16:23
  even like listen to feedback, but observe feedback from
• 1:16:28
  standpoint or like these are users of Bitcoin.
• 1:16:32
  And I as a developer, I am responsible to, especially as a
• 1:16:37
  fast developer, I am responsible to translate user feedback into
• 1:16:43
  code and code doesn't exist so that I have a code base to work
• 1:16:47
  on and get the status and respect and what the people are
• 1:16:54
  relying on us as developers to build systems and build tools.
• 1:16:59
  I can build Bitcoin in such a way that when more people are on
• 1:17:03
  boarded, they're not paying as Luke, as as you said, $100 in
• 1:17:07
  transaction fees. This is why we have been
• 1:17:10
  building Lightning for for so long.
• 1:17:13
  This is why I have participated in BTC pay server.
• 1:17:17
  Then I joined Jack Mallers to create strike as well.
• 1:17:21
  So it's it's really up to, I would say us as developers to
• 1:17:25
  hear this feedback and then work to implement it and enjoy this
• 1:17:30
  ride as other people are working on NUM number go up.
• 1:17:35
  So yeah, writing clickbait titles.
• 1:17:41
  Yeah, you guys do the heavy lifting and we were going to
• 1:17:44
  scam people into buying Bitcoin. You heard it here for this is
• 1:17:47
  the symbiotic relationship between the devs and you know,
• 1:17:51
  the the Bitcoin E girls out here like myself.
• 1:17:54
  So hey, we're working together, man.
• 1:17:58
  All right, Hey, Uncle Rockstar, we're we're at the end of the
• 1:18:01
  show, but is there any last message you want to leave with
• 1:18:03
  the people? Any last final thoughts and then
• 1:18:06
  I'll wrap up today's show. No, just buy Bitcoin, have fun,
• 1:18:12
  you know, burn dirty Fiat and listen to simply Bitcoin.
• 1:18:18
  You know, follow follow their clickbait titles.
• 1:18:25
  Oh, man, all right, well, Rockstar, can't wait to see you
• 1:18:29
  in Vegas. It's always a good time.
• 1:18:31
  We'll we'll have to we're we're going to be streaming from the
• 1:18:34
  floor in Vegas. I think.
• 1:18:35
  So once once we get the table and we figure out all the
• 1:18:38
  logistics we're we're going to have to bring you on.
• 1:18:40
  Those are those are the funnest news breaks is when we're
• 1:18:43
  hanging out with Uncle Rockstar, and I hope you guys caught the
• 1:18:45
  bitlock boom one. That one was absolutely
• 1:18:48
  hilarious. When when we're hugging Janet
• 1:18:50
  Yellen, you and me, Yeah, we need to get like Janet Yellen
• 1:18:54
  on. Yeah, so.
• 1:18:55
  Yeah, we need to get her back on the show.
• 1:18:57
  We need to get her back on the show.
• 1:18:59
  All right, let me pull you off. So Uncle Rockstar, hang out for
• 1:19:01
  a couple seconds, like 30 seconds a minute as I wrap up
• 1:19:04
  today's show, actually, Actually Uncle Rockstar, go follow him on
• 1:19:09
  Twitter. It is Rockstar Dev, but the O is
• 1:19:12
  a 0. So R0C KSTARDEF, is there
• 1:19:17
  anywhere else you want to send people to follow you?
• 1:19:20
  No X is good like I am a noster but but you will find a word.
• 1:19:23
  Just follow me on X. Let's go.
• 1:19:25
  OK. All right, well, appreciate it,
• 1:19:28
  Uncle Rockstar. Hang out for a second while I
• 1:19:30
  wrap up today's show. Luke, as the chat said, this
• 1:19:33
  might have been the most quiet you've been on the show, but
• 1:19:36
  thanks for filling in last moment.
• 1:19:38
  Literally Nico texted me at like, I don't know, like 10 this
• 1:19:43
  morning. Like I'm actually not coming on
• 1:19:44
  the show today. I'm like, OK, so anyways, Luke,
• 1:19:48
  thanks for filling in last minute and let's plug your
• 1:19:51
  socials and we'll wrap up today's show.
• 1:19:54
  Yeah, thanks for having me off the always a blast here to again
• 1:19:58
  try to scam some people into profits.
• 1:20:01
  I'm also doing that on YouTube as well, so if you want to be
• 1:20:04
  scammed into some profits or scammed into being more bullish
• 1:20:09
  or learning why you need to self custody your Bitcoin, I talk
• 1:20:12
  about all that kind of stuff on YouTube as well.
• 1:20:14
  So thanks for having me off. Here Yeah appreciate it, bro
• 1:20:18
  shout out to uncle Rockstar. We are scamming you into
• 1:20:20
  profits. Absolutely love it All right
• 1:20:22
  guys, last thing before I go of course we've been talking about
• 1:20:25
  it. We are going to Vegas.
• 1:20:28
  It is literally what, 20 days away, 20 days away.
• 1:20:32
  Make sure you get to Las Vegas and you hang out with us at
• 1:20:36
  Bitcoin 2025. We are going to be on the floor,
• 1:20:39
  we're going to be doing the live show.
• 1:20:40
  We're going to have the whole team there.
• 1:20:42
  You can come say hi, come hang out with us over there on the
• 1:20:46
  floor of the Venetian. It is May 27th through the 29th.
• 1:20:49
  I think this one is going to be huge.
• 1:20:52
  As you can tell, the price is pumping.
• 1:20:54
  This might be the biggest Bitcoin conference yet.
• 1:20:56
  So make sure you get your ticket, scan the QR code and use
• 1:20:59
  simply all caps for 10% off. All right, all right, guys, on
• 1:21:03
  that note, I love you guys. This was episode 1240.
• 1:21:07
  I believe we will be back tomorrow.
• 1:21:09
  I will be hosting again. Nico is figuring out his he he
• 1:21:13
  had, he literally got kicked out of his sister's house and she
• 1:21:16
  he's taking up too much space there.
• 1:21:17
  So he's got to figure out his studio.
• 1:21:20
  Well, we'll be back with the normal show on Monday, but
• 1:21:23
  you're stuck with me tomorrow. So you know, I'm going to sneak
• 1:21:25
  in some memes tomorrow. On that note, guys, I love you.
• 1:21:29
  It's been Opti and we'll be back tomorrow.
• 1:21:31
  So get outside, touch some grass, eat some good food, call
• 1:21:34
  your loved ones. Numbers going up.
• 1:21:36
  It feels good. Later.
• 1:21:39
  Today's episode was brought to you by bitcoinwell.com, a
• 1:21:42
  Bitcoin only platform on a mission to enable financial
• 1:21:45
  independence.