Latest / Simply Bitcoin / Fixing Bitcoin Mining Pool Censorship | EP 546

Transcript

Fixing Bitcoin Mining Pool Censorship | EP 546 · Simply Bitcoin

• 0:24
  Yo welcome to another episode of Simply Bitcoin.
• 0:29
  I'm coming to you live from the Dominican Republic.
• 0:34
  Today is going to be a very special show.
• 0:37
  We're going to cover more excuses for inflation by our
• 0:41
  so-called betters political Elites and of course how to fix
• 0:47
  Bitcoins mining pool centralization problem.
• 0:51
  I'll get into more of the details of that and a little
• 0:54
  bit. We also have more articles from
• 0:56
  the Legacy mainstream media bashing sailor for what happened
• 1:01
  yesterday. So we're going to cover that.
• 1:02
  We also have BlackRock and coinbase allying a very evil
• 1:08
  Alliance opt he's going to cover that as well.
• 1:10
  It's going to be a very special show but first How you doing
• 1:14
  Opti? How you doing, bro?
• 1:16
  What's up guys? Hello world.
• 1:18
  It's your boy Opti. I'm here with the camera.
• 1:21
  Hopefully, it doesn't overheat on me.
• 1:23
  We shall see what happened today, but I'm excited to be
• 1:26
  here. Feel good this morning.
• 1:28
  I think it's gonna be a good day Nico.
• 1:29
  Let's just get into it. Yeah, it's going to be a good
• 1:32
  day. Going to say hi to everybody.
• 1:34
  We got BTC pins. Good morning, we got guy good.
• 1:39
  Good afternoon. Directly from Brazil.
• 1:41
  Shout out to Brazilian bitcoiners.
• 1:44
  We got vital, we got Joseph put the Dominican flag, he knows and
• 1:50
  we got loco. Diamond hands Bitcoin, shout out
• 1:53
  to all you guys. Shout out to everyone listening
• 1:56
  on Twitter spaces. Anyways Opti let's get on to the
• 2:00
  show, brother for brought to you by not all they make some of the
• 2:06
  best Bitcoin notes like the not a one, the one I'm holding in my
• 2:09
  hand, run your own version of Bitcoin core, the lightning
• 2:11
  Network whirlpool and Dojo all from Comfort of your own home
• 2:15
  member, guys, if you don't run your own node, like the not, oh,
• 2:19
  you're using someone else's. And now, if you are a digital
• 2:22
  Nomad, you have no excuse. Because the novel guys, just
• 2:25
  release not all Cloud. Run a nozzle through a virtual
• 2:29
  private server. Visit not all dot, visit not
• 2:33
  all.you, dude. You guys have to run your own
• 2:36
  code, if you aren't doing. So, already become a fully,
• 2:40
  sovereign individual. Anyways, check out some of the
• 2:44
  Purrs. Apparently this is the screen
• 2:45
  view that you guys appreciate. So let's check it out.
• 2:50
  The price at the time of recording is twenty two thousand
• 2:53
  nine hundred and forty dollars SATs.
• 2:55
  Per dollar also known as Moscow. Time 4359 block height, 740
• 3:01
  7950, to reachable bitcoin knows 15,000 215 percentage issued
• 3:09
  look. It's moving up Opti ninety one
• 3:11
  point zero one percent Blocks to the having that number can't
• 3:16
  come any sooner. I want to continue going down,
• 3:19
  faster, 90 2048 having estimate April 19th 2020.
• 3:25
  For less than two years away. Total lightning network
• 3:28
  capacity. 1341 Bitcoin capacity value at present time.
• 3:35
  It's at 30 million dollars 30.8 to be specific hash rate, not in
• 3:40
  the last over the last 90 days. 209 x, a hashes.
• 3:44
  An annual mining Revenue. We're at fourteen point, three
• 3:49
  billion dollars. You want that number to continue
• 3:52
  growing up. Anyways, very interesting
• 3:56
  numbers today. So today I want to cover another
• 3:59
  excuse by the elites check this out.
• 4:03
  This is absolutely crazy. I could not believe.
• 4:05
  When I read this, marry Dolly, she is the San Francisco, Ed
• 4:11
  president. Anyways, let's check out what
• 4:14
  she had. To say during an interview with
• 4:16
  Reuters, to quote, she says, you know, I have to say that that I
• 4:20
  live. I don't feel the pain of
• 4:22
  inflation anymore. I see prices rising have enough
• 4:27
  that I can make some substitutions that I could do
• 4:30
  things. So I'm not immune to gas, price
• 4:32
  Rising food prices, rising. I sometimes balk at the price of
• 4:36
  things, she said, but I don't find myself in a space where
• 4:40
  have to make trade-offs, because I have enough and many many
• 4:43
  Americans. Have enough.
• 4:45
  There you go. So that's like let them eat
• 4:47
  cake, right? The famous line, from marry
• 4:50
  Antonette. There you have someone who not
• 4:54
  only works for the Federal Reserve is the president of one
• 4:57
  of the branches of the Federal Reserve.
• 4:58
  And she's literally saying to your face.
• 5:01
  Hey, I'm okay. And I know all of them, a lot of
• 5:07
  other Americans. Okay.
• 5:09
  So I guess I'm doing alright. Like, dude, the disconnect with
• 5:14
  these people, is absolutely insane.
• 5:16
  Like, if this is Despicable stuff, anyways, I also got a
• 5:21
  video for you guys as well. Well, let's check it out.
• 5:24
  It's funny comes from our friends down under Australia,
• 5:27
  and they also are talking about the topic of inflation.
• 5:30
  Let's check it out. Okay, let me explain.
• 5:36
  Inflation is not a scary word right now.
• 5:39
  It's been getting a little out of control here and around the
• 5:43
  world, which isn't good, but in a normal World, whatever that is
• 5:48
  inflation means we're spending more than our economy is
• 5:51
  growing, and gross is good, but let's start with the basics.
• 5:57
  You heard that right right inflation.
• 6:00
  Our economy's growing. We are spending.
• 6:04
  Yeah. When they mean, we, they really
• 6:06
  mean the government and Central bank's, doesn't mean the people.
• 6:10
  So, it's just crazy how indoctrinated Society has been,
• 6:14
  has been with this. Look some inflation is good,
• 6:18
  it's necessary and means that the economy is working,
• 6:22
  everything's going fine, but at the end of the day, look, even
• 6:25
  when inflation. In that two percent, you are
• 6:28
  still your purchasing power is being stolen from on a year by
• 6:32
  year basis. And that's just a fact and just
• 6:36
  a friendly reminder and I tweeted this out the other day,
• 6:38
  the sole cause of inflation. Wasn't the virus wasn't.
• 6:42
  The supply chains, it was governments and central banks,
• 6:47
  they made the decision to print a record amount of money and
• 6:51
  that is what we're feeling right now.
• 6:53
  And by the way, not only did they make that decision?
• 6:56
  In which is hurting everybody hurting their purchasing power,
• 6:59
  right? They have also not taken
• 7:03
  responsibility for that decision.
• 7:05
  They have gasless the entire way.
• 7:08
  First, they said there is no inflation.
• 7:10
  Then they said the inflation was by Supply chains.
• 7:13
  They said inflation was by the virus.
• 7:14
  They said inflation was by Putin, right?
• 7:17
  And it took them a year to say, oh, I made a mistake.
• 7:20
  And here's the thing, guys, this is how much they disrespect you
• 7:22
  this, how much they don't value you, as a human being.
• 7:26
  They're doing the exact same thing with the recession.
• 7:30
  There is no recession. They're redefining the term of
• 7:34
  what recession is in front of our eyes.
• 7:36
  I'll be pulled up the receipts the other day on yesterday, on
• 7:39
  couple days episode. And yeah, this is, this is
• 7:42
  absolutely despicable stuff. I don't think that there is a
• 7:47
  political solution to this. I don't think it's a matter of
• 7:50
  voting. Someone out of office, both
• 7:53
  political parties and look, I live in the United States.
• 7:55
  So I And of the political system works here and in other
• 7:59
  countries, it's the bet you it's the same right?
• 8:02
  Whether it's the Republicans or the Democrats and power, they do
• 8:05
  the same thing they print money, the Democrats might be for
• 8:08
  social issues, more, you know, societal stuff.
• 8:12
  And then the Republicans are, you know, for war and spending
• 8:15
  and you know, making the military bigger and all that
• 8:17
  stuff. But at the end of the day, who
• 8:19
  loses you do? Think about it this way.
• 8:22
  Not only do you get tax for your income, not only do you get
• 8:25
  taxed for your Property, not only do get tax for your
• 8:28
  purchases. Now you're playing the hidden
• 8:31
  tax of inflation as well. I didn't sign up for that.
• 8:35
  Did you now with Bitcoin, you have a opportunity to opt out of
• 8:40
  that? Political money garbage, put
• 8:42
  yourself, put your worth your energy, your time into something
• 8:46
  that can't be debased. Can't be confiscated easily.
• 8:50
  You become fully financially Sovereign and the psychological
• 8:54
  effects of that is something that people don't.
• 8:56
  Talk a lot about in the Bitcoin Community.
• 8:58
  All of a sudden you have hope for a better future if you
• 9:02
  don't. You just saw that video.
• 9:05
  You just saw what the FED with with the head of the San
• 9:08
  Francisco branch of the FED said, I'm okay.
• 9:12
  I know other people are okay like this is just absolutely
• 9:15
  despicable but I can't blame these people.
• 9:18
  At the end of the day, the Fiat system is architected in a
• 9:22
  manner that there are a few win and a whole lot of people lose.
• 9:26
  And Bitcoin the incentives aligned with everybody.
• 9:29
  That is the beauty of Bitcoin. So yeah.
• 9:31
  Join the peaceful Revolution opt-out say enough is enough and
• 9:36
  yeah, take your wealth, your time, your work out of that,
• 9:41
  that parasitic system because that's really what it is.
• 9:43
  Anyways, Opti. What are your thoughts?
• 9:45
  Well, first off of this is just absolutely insane propaganda,
• 9:50
  like the FED President telling us.
• 9:52
  He doesn't fit our, she doesn't feel inflation, like It's
• 9:57
  insane. I the average person out there,
• 9:59
  can see the inflation for themselves, they realize they
• 10:02
  can't buy what they used to buy. Everything is getting more
• 10:05
  expensive. I mean, Nika, you and I were
• 10:07
  just talking about housing prices and how they gone up a
• 10:10
  T20, what 90 100 percent since they printed money, like, this
• 10:14
  is absolutely insane. The elites are completely out of
• 10:20
  touch with reality and they are just going to continue to try to
• 10:23
  spin this in a in any PR way. They can so that they The
• 10:26
  normies so that you the plebs out there.
• 10:28
  Just get wrecked and eat this Hook Line & Sinker.
• 10:32
  As we've been saying, guys, it's obviously very obvious.
• 10:36
  That inflation is bad. Inflation is the hidden,
• 10:38
  taxation. It steals from you very slowly
• 10:41
  and as we've been saying for a while, the disinformation war
• 10:44
  continues, this is just standard information Warfare.
• 10:49
  They are going to try to push this message so that you get
• 10:52
  Hoodwink guys and Nico. I really love that you brought
• 10:55
  up the me. That we like to push a lot is
• 10:58
  Bitcoins, then I think that this is this, we need to all talk
• 11:02
  about this more. That Bitcoin does something to
• 11:05
  your psychology that you just, you're more optimistic, your
• 11:09
  more, you're more hopeful for the future and imagine not
• 11:13
  having Bitcoin right now. I, I literally can't imagine it
• 11:17
  because it seems like a totally different reality because I am
• 11:21
  very hopeful. I am Optimus field for a reason.
• 11:23
  I think that we are gonna make this if you understand what
• 11:27
  we're doing here and understand Bitcoin up, first principles, 21
• 11:30
  million, hard cap, censorship resistant, money after you
• 11:34
  money, you can't touch my money. You can't steal from me, slowly.
• 11:37
  This is the way, guys. This is why we do this.
• 11:39
  This is why we show up every single day to spread the sound
• 11:42
  money gospel. You muted.
• 11:47
  Sound money, gospel. Amen to that.
• 11:50
  Alright guys, let's move on. Let's move on to the meat of
• 11:54
  today's episode. Let's check out.
• 11:58
  D is time for the Daily News. Brought to you by crypto
• 12:02
  cloaks.com they make some of the best 3D printed Bitcoin merch.
• 12:07
  Like the famous 3D printed Bitcoin grenade.
• 12:10
  Toy comes in any custom color. Your heart desires.
• 12:13
  That's right. You want to Peter Schiff colors?
• 12:15
  Yeah it comes in gold and you can take advantage of the promo
• 12:18
  code down below to get 5% off. If you're in Europe, the
• 12:21
  European store is now open check out crypto cloaks.com today.
• 12:26
  Alright, so today guys, we're going Talk about stratum V2,
• 12:31
  shot him, V2 promises to further decentralised Bitcoin and
• 12:36
  surprisingly this articles from Forbes does a really good job at
• 12:41
  at summarizing it and we got some other articles to you know
• 12:45
  further paint the picture. So let's check it out says
• 12:48
  stratum V2 promises to further decentralised Bitcoin.
• 12:53
  It goes on to say the centralization has many
• 12:56
  different categories from technical to culture.
• 12:58
  And different stakeholders from the developers of the Bitcoin
• 13:01
  core team to the exchanges, the power Fiat on and off ramps.
• 13:04
  Yet one area where there is a lot of focus are the miners that
• 13:08
  secure the Bitcoin Network and it's proof of work chain.
• 13:10
  Stratum V2 is an upgrade to the Bitcoin mining stock that aims
• 13:15
  to help miners as, as small as hobbyist.
• 13:18
  With a few bits of Asic. Mining equipment to have a more
• 13:21
  flexible and censorship resistant route, to
• 13:24
  communicating with mining pools for mining, pool concentration,
• 13:27
  in China to how Miners can choose different mining pools.
• 13:30
  The amount of decentralization present in miners is an
• 13:33
  important consideration for the security of Bitcoin.
• 13:36
  After all if minor to aggregate together.
• 13:39
  In terms of mining pools, Embrace new policies such as
• 13:42
  censoring certain blocks, the promise of having a trusses
• 13:45
  censorship resistance technology solution, would give way to a
• 13:49
  new regime before the fact of centralized mining pool leaders
• 13:53
  who might be forced one way or another, whether they through
• 13:56
  personal incentives. Agreed.
• 13:58
  Or through pushes for country-by-country regulations
• 14:02
  to make decisions that benefit them rather than the network in
• 14:05
  aggregate. So what do Bitcoin miners do?
• 14:08
  Right, you pull together. Your hashing power to have a
• 14:13
  more stable reward. That's what that's what Bitcoin
• 14:15
  miners want to do. That doesn't represent that that
• 14:19
  mining pool owns. All of that hash rate.
• 14:21
  It's just a concentrate concentration of Bitcoin mining
• 14:26
  power in order to The reward more consistent, right?
• 14:30
  And you want consistency because you are paying money to power
• 14:35
  those Miners and those miners can be very expensive, right?
• 14:38
  So that's why people use my, that's why people use mining
• 14:41
  pools. Now, here's the problem, right?
• 14:44
  Is that we will bitcoiners want with Bitcoin is doing is
• 14:48
  separating money from State. And eventually the state is
• 14:51
  going to want to try to co-op the Bitcoin Network to make it
• 14:55
  an extension of the system we have today.
• 14:58
  You already see that you've already saw that happening,
• 15:00
  right? You see that with the articles
• 15:02
  by Elizabeth Warren in the Wall Street, in the New York Times,
• 15:05
  right? Does hey you know Bitcoin is
• 15:07
  going to be used to circumvent Russian sanctions, right?
• 15:10
  So again is when we covered this about a week ago an episode Us
• 15:14
  sanctions is US sanctions policy and again this is just a thought
• 15:17
  experiment. I'm not saying break any laws,
• 15:19
  right? Color within the lines but it's
• 15:20
  like our us saying is u.s. is current u.s. sanctioning policy.
• 15:25
  Compatible with something like Bitcoin, that's an open network,
• 15:29
  right? I don't know, but it's
• 15:30
  definitely a good question. Now, let me pull up some
• 15:33
  examples of already mining. Some mining pools.
• 15:37
  Trying to censor. Right, let's check this out.
• 15:40
  This is Marathon miners the famous Mara pool, right?
• 15:44
  Marathon miners. Have started censoring Bitcoin
• 15:46
  transactions. Here's what that means and Mara
• 15:49
  Mara Marathon. Digital Holdings is public
• 15:53
  company and guess who they were blocking the transactions for
• 15:57
  the US Department of Treasury. Specially designated Nationals
• 16:00
  and blocked persons list, and it was called ofac compliance
• 16:04
  blocks, but it wasn't only Marathon, right?
• 16:07
  It was also the block Seer mining pool will only process
• 16:11
  specific transactions. You saw the same Singing, we are
• 16:14
  actually very upset when this happened when the developers
• 16:18
  from Wasabi decided that their coins joined protocol.
• 16:21
  Was going to scan certain transactions and not allow
• 16:24
  certain UT EXO's into the coin joint.
• 16:26
  And what, all what, what is all this?
• 16:29
  This is a slow Creep by nation states, trying to co-opt bitcoin
• 16:35
  into the existing Network, the existing network of exclusion.
• 16:40
  Right? The reason that Bitcoin is so
• 16:43
  inclusion. Very right is because all the
• 16:46
  red tape is removed, right? So, if I'm in Africa, and I have
• 16:51
  no ability to open a bank account, all of a sudden, now I
• 16:55
  can download a Bitcoin wallet takes literally 20 seconds.
• 17:00
  And now I'm connected with a Global Financial system, right?
• 17:04
  Which is Bitcoin, right? Look the example with El
• 17:06
  Salvador, right? It literally took El Salvador,
• 17:09
  two months for there to be more Bitcoin wallets than Legacy
• 17:13
  Bank. That's right.
• 17:15
  And that's because not everybody has an ID, not everybody has all
• 17:19
  the paperwork to open the head. The heavily intensive kyc bank
• 17:23
  account, right? Or is the Bitcoin, you literally
• 17:26
  just need to download an app on your phone, right?
• 17:29
  So moving on what it, what are we to do with these mining
• 17:34
  pools? Because at the end of the day,
• 17:35
  look kid, they fully stop this. No in my opinion they can't
• 17:39
  because what you're going to start to see some judicial
• 17:41
  Arbitrage or perhaps, you know. No, American mining pools aren't
• 17:45
  going to accept, you know, transactions from, you know,
• 17:48
  known Russians are known Iranians, but what you're all
• 17:50
  we're going to see is then an Iranian mining pool, accepting
• 17:54
  those transactions. As soon as those transactions
• 17:57
  get added to the blockchain, there's nothing you could do
• 18:00
  about their there. So the worst that they can
• 18:02
  really do is slow down transactions.
• 18:06
  But now that we have a very large majority of the Bitcoin,
• 18:10
  hash rate located in the United States that starts to Worrying
• 18:14
  because you're definitely going to see more pressure by the US
• 18:18
  bureaucracy to start to censor more specifically if we are
• 18:23
  right about Bitcoin and it does become the world Reserve
• 18:26
  currency, it's inevitable that they're going to ask that.
• 18:29
  So what are we to do about it? Well check out stratum stratum
• 18:34
  be to stratum video allows individual mirrors with in a
• 18:36
  mining pool to choose their own blocks to mind, rather than
• 18:40
  having to mind the one, a pool proposes for them while still
• 18:43
  Benefiting from a more stable aggregation of mining rewards so
• 18:47
  they can defray volatility and set of the current Paradigm of
• 18:51
  the pool, offering a incomplete block template that an
• 18:54
  individual minor has to accept. Now, minors can optionally,
• 18:57
  choose the blocks, they want to mine and send it back to the
• 19:01
  pool stratum. V2.
• 19:02
  Also provides a bunch of different technical upgrades
• 19:05
  from switching to Json for communication to Binary to
• 19:08
  making communication more seamless to reducing redundant
• 19:12
  Communications between pools. Dividual minors to cryptographic
• 19:16
  authentication, that allows you to prevent man-in-the-middle
• 19:19
  attacks. Such as your is be stealing your
• 19:21
  hash power which that would suck.
• 19:23
  So why don't want to cover this Terry looks like there's an
• 19:27
  update Foundry, digital donates one Bitcoin to develop working
• 19:31
  on Bitcoin mining pools Foundry digital is an Institutional
• 19:34
  service provider for Bitcoin miner and has donated one
• 19:37
  Bitcoin to hiss developer in the Bitcoin ecosystem.
• 19:40
  By the name of for ss0 was Working on stratum V2.
• 19:45
  According to a press release. Stratum V2 is an open source
• 19:47
  Communications. Protocol that allows minors
• 19:49
  their proxies and Mining pools to better communicate with one
• 19:53
  another enabling larger contributions Global hash rate
• 19:56
  of the Bitcoin Network stratum. I read you guys that part the
• 20:00
  last part is a quote that I thought is interesting.
• 20:02
  The Bitcoin mining industry has evolved rapidly in the last past
• 20:06
  two years while the underlying protocol that coordinates the
• 20:09
  minor in the pool has stayed stagnant said, Jay bit better.
• 20:13
  Picked VP of research at Foundry for review.
• 20:16
  Stratum be to as a major Improvement of the current
• 20:19
  stratum protocol and is aligned our mission of empowering to
• 20:23
  centralized infrastructure. So yeah, I'm very bullish on
• 20:27
  this project. I hope it continues and I'm very
• 20:29
  glad that there is funding by the community to continue it.
• 20:34
  I think that it's essential that more and more descent.
• 20:40
  More decentralization is always a good thing, right?
• 20:43
  And how it's currently structured, right?
• 20:45
  It's the mining pool. That gets to decide what block,
• 20:49
  if they find the block gets included into the blockchain and
• 20:52
  that is a point of weakness, right?
• 20:54
  Because they there could be political pressure.
• 20:56
  There could be countless things. That that blocks that that that
• 21:00
  mining pools, like, listen, I don't want to include certain
• 21:04
  people that the u.s. government Blacklist because I do business
• 21:08
  in the US. But if you take away the mining
• 21:12
  pools ability, Get to decide what block they are.
• 21:15
  Included in what block are not included then, at least, you
• 21:19
  know, it's the, the example that I'm going to get, it's that that
• 21:22
  letter, that that Canadian company sent the Canadian
• 21:26
  government says, hey, I don't have access to that stuff even
• 21:30
  if you wanted me to give it to you, right?
• 21:32
  So at least there's, you know, deniability there where how it's
• 21:36
  currently set up. There is no diet deniability,
• 21:39
  because the mining pool is the one who gets to choose, which
• 21:43
  Block is included in which block isn't included.
• 21:45
  So I'm glad there's development with this.
• 21:47
  I hope it keeps going. I know that there's some
• 21:50
  problems with it as well. Hopefully we can get a more
• 21:53
  technical person to discuss this in the coming weeks or months.
• 21:57
  But I think this is a very promising development and I'm
• 22:00
  very excited to see the future a stratum V2.
• 22:04
  I think it's essential as Bitcoin continues to become more
• 22:08
  and more popular, and because it's becoming more and more
• 22:11
  popular, you're going to see more.
• 22:13
  More pressure from nation states to try to remain in power and
• 22:17
  control. Anyways, Opti, what are your
• 22:19
  thoughts brother? Well, you know me, I'm not the
• 22:21
  most technical Bitcoin earn or a minor but I am glad to see this
• 22:26
  come out. I've been hearing a lot of talk
• 22:27
  about this from a lot more technical people than me that
• 22:31
  have higher lever concerns, that it's above my pay.
• 22:35
  Grade is all I'll say, but I am very glad that you brought up
• 22:38
  the marathon and the ofac because I was the first thing
• 22:40
  that I thought when you brought up this news is like, oh, All
• 22:43
  right, cool like now we can, you know, route around that like,
• 22:47
  oh, he's but anyways, first off, you said something about people
• 22:54
  in Africa and shouts out to, what's his, in vital, official
• 22:58
  in the chat. From Rwanda, we worldwide right
• 23:00
  now. Let's go.
• 23:02
  But I did do a little research this morning.
• 23:04
  I didn't do too much because I knew you cover that.
• 23:07
  So I went on the brand website and I was, you know, very
• 23:12
  bullish that This is going to increase the centralization and
• 23:15
  like you covered. It's going to make it better for
• 23:18
  minors to choose what blocks and what transactions they want in
• 23:21
  the block. So absolutely bullish in my
• 23:23
  opinion, increases censorship resistance and decentralization.
• 23:27
  So let's go, I love this. I can't wait to see this get
• 23:32
  implemented in all mining pools, because that would be absolutely
• 23:36
  bullish. And it would make the Bitcoin
• 23:39
  Network that much stronger and this is what we need to.
• 23:43
  To increase the strength of the network guys.
• 23:45
  We need to make sure that the nation states can't attack
• 23:49
  Bitcoin even though they haven't been able to already.
• 23:52
  So increase the strength of Bitcoin because Bitcoin is the
• 23:55
  way and I'm happy to see this Nico.
• 23:58
  Very happy to see this. Yeah, it's an arms race, right?
• 24:02
  You constantly have to be ahead because they're the, you know,
• 24:06
  the government's just and again, they're just they're not it's
• 24:09
  not it's an evil thing. They're acting following their
• 24:12
  own incentives. You know.
• 24:13
  So yeah, we have to stay ahead of the curve, that's for sure.
• 24:17
  Anyways, I want to check this out.
• 24:19
  Check out this tweet from Corey clips and CEO of swan.
• 24:24
  He's been absolutely murdering it on Twitter lately.
• 24:26
  A regulatory turf war is being encouraged and funded by the big
• 24:31
  money. Kryptos grammars like a 16z and
• 24:34
  coinbase. They're trying to get anyone
• 24:36
  other than the SCC to regulate them because otherwise the free
• 24:41
  money scam machine stops. Check this out, Cory was
• 24:45
  absolutely right. Check out the Bloomberg article
• 24:47
  push to give derivatives regulator more sway over credit
• 24:51
  rating. Gains steam a push in Washington
• 24:55
  to transform the u.s. derivatives regulator into a top
• 24:58
  crypto. Watchdog is gaining stream with
• 25:00
  a Senate bill that would give the Commodities future trading
• 25:03
  commission. Sweeping new powers to oversee
• 25:05
  the asset class. The cftc, whose purview is now
• 25:09
  mostly limited to crypto derivative.
• 25:11
  We get the ability to police. In the largest digital assets
• 25:15
  under the plant introduced Wednesday, by Democrat, Debbie
• 25:18
  stabenow, and John Republican, John boozman, the legislation
• 25:22
  backed by the to to Top members of the Senate agriculture
• 25:26
  committee, which is weird. Why is the agricultural
• 25:28
  Community Kang in vic? Well, now we know thanks to
• 25:31
  Cory, it's because it looks like some of their donors, the
• 25:34
  coinbase a 16c, perhaps might have had some pressure.
• 25:39
  Anyways, Senators. Cory Booker and New Jersey
• 25:43
  Democrat and John thune a South Dakota.
• 25:46
  Republican are also original co-sponsors of the bill one in
• 25:50
  five. This is to quote them, 15
• 25:51
  Americans have used their traded digital assets, but these
• 25:54
  markets lack the transparency and accountability that they
• 25:57
  expect from our financial system, too often.
• 26:00
  This puts Americans hard-earned money at risk stable.
• 26:02
  Now said in a statement. That's why we were closing
• 26:05
  rather Tori gaps, and requiring that these markets operate under
• 26:08
  straightforward rules that protect customers and keep our
• 26:11
  Some safe again. I don't believe when politicians
• 26:14
  say that. I was at all.
• 26:16
  Anyways, crypto Executives here is what Corey said.
• 26:19
  Crypto Executives have been pressuring for the cftc to get
• 26:23
  more power as they resist Securities and Exchange
• 26:26
  Commission. Chair Gary genzler's assertions,
• 26:28
  that many digital coins are securities under the sc's
• 26:31
  purview industry, trade groups including the blockchain
• 26:34
  association in the crypto Council for Innovation.
• 26:36
  Put out statements in support of the Senators efforts, right?
• 26:40
  The coinbase. Whatever member that member
• 26:43
  guys, coinbase is currently under investigation by the SEC
• 26:47
  because of why, because they're pushing Securities but they're
• 26:51
  hoping that they get regulated under the cftc.
• 26:55
  So that half a business model literally doesn't go away
• 26:59
  overnight because coinbase May bet to sell shit coins, some of
• 27:04
  which are definitely Securities I make the argument.
• 27:07
  That all of them are securities. Anyways, the new proposal would
• 27:10
  give the derivatives regulation Direct oversight of tokens that
• 27:13
  qualify as digital Commodities, which occurred to, a summary of
• 27:17
  the plan include here. It is guys Bitcoin.
• 27:20
  And ether, the two largest digital assets.
• 27:23
  We don't believe that aetherium is a security.
• 27:27
  I mean, sorry. It is a security.
• 27:28
  We believe that Bitcoin, you know, is treated as a commodity,
• 27:32
  theorem definitely isn't a commodity.
• 27:33
  If vitalik could snap his fingers and change the monetary
• 27:38
  policy of ethereum or like Sailors said, if Tally could
• 27:41
  snap his finger and literally Wipe Out the whole aetherium
• 27:45
  mining history then, is it really a commodity know?
• 27:49
  It sounds like a security to me, but apparently aetherium
• 27:52
  definitely has enough lobbying power for for that, not to be.
• 27:57
  So anyways, let me let me close this.
• 28:01
  Look, I think this is just beginning, right?
• 28:05
  But I think that there is a silver lining here.
• 28:10
  Silver Lining is not only do you have the crypto bill being
• 28:14
  pushed by Senator gillibrand and Senator Cynthia, lummis, you
• 28:18
  also have bipartisan moves, you know, perhaps not working
• 28:22
  towards something that we would like, but at least you see,
• 28:25
  Republicans and Democrats working together and what was,
• 28:29
  what was worrying me. The last couple of months is
• 28:32
  that for some reason, left-wing parties all around the world
• 28:36
  were the ones attacking Bitcoin and the excuse, they Using is
• 28:41
  Bitcoins, energy usage. Now when I see Democrats and
• 28:45
  Republicans working together towards passing, you know,
• 28:49
  favorable Bitcoin and shit. Coin regulation that puts a
• 28:52
  smile on my face because at least I know that that is
• 28:56
  another tack. That's at least.
• 28:58
  That's another attack. That's at least being you know
• 29:01
  calm down a bit. Right?
• 29:03
  I want this to be completely bipartisan because if we want to
• 29:06
  separate money from State, we need to incentivize Politicians
• 29:11
  from both sides of the aisle, not only to like Bitcoin, but to
• 29:15
  hold Bitcoins well because then they it's just following their
• 29:18
  own incentives. They're not going to regulate
• 29:20
  something that's going to hurt them financially.
• 29:24
  So this is a really good pattern.
• 29:26
  This puts a giant smile on my face because I was seeing a
• 29:30
  troubling pattern and that pattern was goddamn.
• 29:33
  Dude, this is becoming a partisan thing and that's the
• 29:36
  last thing that I want to happen.
• 29:37
  At the end of the day, Bitcoin is Is for everybody, Bitcoin
• 29:42
  helps the right-wing ideology of sovereignty Liberty and Bitcoin
• 29:48
  helps the left-wing ideology of helping the underprivileged,
• 29:52
  helping the unbanked helping the people that got hurt the most by
• 29:56
  the financial system. It literally helps both sides,
• 30:00
  Bitcoin is a political and I'm glad that you're starting to see
• 30:04
  a bipartisan effort in Congress to help it.
• 30:07
  So at least there's a silver lining.
• 30:10
  It fucking sucks. But again, I'm a Libertarian at
• 30:12
  heart. I don't think that the u.s.
• 30:15
  government which Big Winners should be cheering, the US
• 30:18
  government to kill aetherium by claiming it.
• 30:21
  A security that is some weak sauce.
• 30:23
  We need to beat it in the free and open market.
• 30:27
  That's how we win. We don't win by hoping and
• 30:31
  loving some government regulation to stomp out our
• 30:35
  competition. That's some crony capitalism
• 30:37
  bullshit. So, when I see bitcoiners saying
• 30:39
  that on, Just kind of like, dude, do you hear yourself right
• 30:42
  now? I get that.
• 30:43
  You don't like, etherium. I get that at the room Central
• 30:46
  II. Get that etherium.
• 30:47
  Centrally planned. But dude, come on, man.
• 30:51
  We gotta beat it fair and square.
• 30:52
  Anyways, Opti, what are your thoughts brother?
• 30:55
  Well, the cftc can say that youth is a commodity or hope
• 31:01
  that youth is a commodity but we all know the truth that eateth
• 31:04
  is a scam Point Blank period. It is the biggest Affinity scam
• 31:08
  in the space but I Agree with what you said.
• 31:11
  Nico. You know, I'm not big on the
• 31:13
  government, you know, they go, fuck themselves.
• 31:16
  I'm not big on Authority. So I would much rather just see
• 31:20
  Bitcoin win on the free market, which I believe it is doing as
• 31:23
  we speak. So, just continue to push
• 31:25
  Bitcoin, but I think this is a greater point that we've been
• 31:31
  saying for a while about the reef and the eith. being
• 31:37
  intermingled and is there some kind of pressure on the
• 31:40
  politicians from the global cabals, The Reef members to add
• 31:46
  Bitcoin or sorry eat as a commodity so that they can you
• 31:49
  know slide this through under the rug and and continue to scam
• 31:54
  in peace but as I believe it was Congressman Warren Davidson said
• 31:59
  there's Bitcoin and their shit coin guys this is what you need
• 32:04
  to show people that there's A fundamental difference between
• 32:07
  Bitcoins and shit coins and this is why we do what we do and I
• 32:12
  really love that you added Bitcoin is for everyone because
• 32:15
  I was going to say the exact same thing as we like to say on
• 32:19
  Twitter a lot Bitcoin is for enemies as Anika likes to say
• 32:22
  Bitcoin is a bipartisan issue and as everyone needs to know,
• 32:26
  Bitcoin is for everyone. Everyone needs Bitcoin right now
• 32:29
  because the Legacy Financial system is wrecked, guys.
• 32:34
  Bitcoin is the escape, And they know it.
• 32:37
  So they have to muddy the waters.
• 32:39
  Hence, why they're doing what they're doing?
• 32:42
  It's very simple propaganda, guys.
• 32:44
  We are propagandas and we're proud of it.
• 32:46
  So we know their techniques as Nico, he says know, your enemy
• 32:49
  and know how they work. This is why we do this.
• 32:53
  Yep, this is why we cover. This is why we get our news from
• 32:57
  the Legacy Financial media. You gotta you gotta get inside
• 33:00
  their brains if you would beat them.
• 33:02
  Anyways, Simona same I had a really good comment.
• 33:08
  I said Nick. He said he or she sorry.
• 33:11
  I don't know. Said or they.
• 33:14
  He she or they you got to be inclusive.
• 33:17
  Nico, you're wrong. After the bill will be passed.
• 33:20
  Eith needs big going to have in such a bill Bitcoin will be
• 33:24
  bands because it's proof of work and not proof of stake.
• 33:28
  So I so yeah, I don't agree. The intentions of politicians.
• 33:34
  They could be pulling a fast. Last one, I absolutely agree.
• 33:37
  But remember how the u.s. is structured, right?
• 33:39
  The individual states have a tremendous amount of sovereignty
• 33:43
  over the federal government and specifically with the ruling
• 33:46
  West Virginia versus the EPA, right?
• 33:49
  The Supreme Court struck down the epa's ability to, to get
• 33:56
  control how states are producing power and how they're not
• 34:00
  producing power, right? So, for example, if New York
• 34:04
  state which is what they're doing bands, Of work, California
• 34:07
  bands proof of work because it's so called energy usage.
• 34:10
  What you're going to see, you're going to see that opportunity
• 34:12
  flock to more friendly Bitcoin States and seeing that in real
• 34:17
  time with a lot of Bitcoin. Miners, going to Texas, Texas is
• 34:21
  a big going strong. Hold it is the Bitcoin Alamo,
• 34:24
  it's not going anywhere but when is so entrenched there, you have
• 34:28
  a very well known very well known Bitcoin politicians are
• 34:34
  sorry a very well-known Titian Ted Cruz that run for president.
• 34:38
  He's literally talking about and some of his political rallies
• 34:41
  about how awesome Bitcoin is. Right?
• 34:45
  So yeah, I don't see Texas, going anywhere.
• 34:49
  You also have Wyoming right? Cynthia lummis.
• 34:51
  She's working so much on on the, the Bitcoin bill because I oming
• 34:57
  at the end of the day, it's a very poor State.
• 34:59
  And what they're doing is they're trying to attract
• 35:01
  business by getting the Bitcoin Banks whether that's Catlin
• 35:05
  Long's. A bank or cracking Bank set up
• 35:09
  there, right? So again, if it was any other
• 35:12
  country with a strong central government, I would say, yeah,
• 35:17
  perhaps maybe this isn't such good news but because it's the
• 35:19
  United States because of how the United States is structured
• 35:22
  government wise. I'm very bullish on the future
• 35:26
  of Bitcoin in the u.s. so, but we did.
• 35:28
  You definitely still have to be careful and you definitely can't
• 35:30
  put your your guard down, anyways.
• 35:36
  Let's move on to the fail Opti. You got to enable permissions in
• 35:40
  the settings for you to screen. Okay, sir, let me figure this
• 35:45
  out. It's time for the daily fail
• 35:50
  brought to you by Swan Bitcoin.com, Swan is the best
• 35:53
  place to build your Bitcoin stack with automated Bitcoin
• 35:57
  savings plans and instant purchases serving clients of any
• 36:00
  size from ten dollars to ten million dollars.
• 36:05
  So I'm Bitcoin alliance with simply Bitcoins values y because
• 36:09
  they incentivize taking Bitcoin into self custody which is how
• 36:13
  we win this decentralized Revolution.
• 36:16
  And of course, they It's advised dollar cost averaging spread out
• 36:21
  that wrist layer into Bitcoin. Use it as a savings technology
• 36:25
  rather than speculation. Check out Swan Bitcoin.com
• 36:28
  today. Nika.
• 36:31
  I'm having technical difficulties that won't let me
• 36:33
  share. I guess I messed up but I can
• 36:36
  still try to cover it. Yeah, don't worry, I'll pull it
• 36:40
  up. I'll pull up the screen.
• 36:41
  Pull up to that ago. Apologies guys, I again I
• 36:45
  updated my computer, it's messing up with me but we are
• 36:49
  going to cover the BlackRock news.
• 36:50
  I hope Nico could pull it up for you guys.
• 36:52
  So let me just cover these headlines.
• 36:55
  Just follow along with me. We are on Bloomberg and we got a
• 36:58
  headline right here and it goes. Rock teams up with coinbase and
• 37:02
  crypto Market expansion. So, I'm gonna, I'm gonna break
• 37:06
  down this article on that. I'm going to tell you a little
• 37:08
  story and then we're going to get some, some bitcoiners takes
• 37:12
  and we will discuss this. So as you can see, black rock
• 37:15
  teams up with coinbase and crypto Market expansion, the
• 37:18
  partnership will help clients oversee their Bitcoin exposure.
• 37:22
  Even in the face of coinbase facing an SEC probe.
• 37:25
  So BlackRock is partnering with coinbase to make it easier for
• 37:28
  institutional investors. Has to manage and trade Bitcoin.
• 37:32
  And, of course, coin basis stock exploded. 32%, since this news,
• 37:37
  so top BlackRock clients will be able to use it to Latin
• 37:40
  investment management system to oversee their exposure, to
• 37:43
  bitcoin, along with other portfolio assets such as stocks
• 37:46
  and bonds and to facilitate financing and trading on coin
• 37:50
  basis. Exchange the focus of the
• 37:51
  partnership with coinbase Will initially, be on bitcoin.
• 37:55
  I guess some silver lining at least they're not going straight
• 37:58
  into shit coronary but We'll explain why this is a fail just
• 38:03
  follow along with me. So the move underscores how wall
• 38:05
  Street's traditional Financial players are expanding deeper
• 38:08
  into crypto and related Technologies.
• 38:10
  Even after this year's meltdown in such assets.
• 38:13
  Of course they got to mention the price but Black Rock chose
• 38:17
  coinbase as a partner because of its scale in the market and its
• 38:21
  role in providing trading custody Services, Prime
• 38:23
  brokerage and Reporting capabilities.
• 38:26
  The services will be available for clients of both companies.
• 38:30
  Our institutional clients are increasingly interested in
• 38:32
  gaining exposure to digital asset markets, and our focus on
• 38:36
  how to efficiently manage the operational life cycle of these
• 38:39
  assets, says, black rocks, Global head of strategic eco,
• 38:42
  eco system partnership. And here's some, maybe some
• 38:46
  bullish signal in here for you guys.
• 38:47
  Institutional investors accounted for about
• 38:50
  three-quarters of the three hundred and nine billion dollars
• 38:53
  in trading volume on coinbase in the first quarter.
• 38:56
  Remember everyone saying institutions comment?
• 38:58
  Well, there he Guys, the coinbase partnership between
• 39:02
  BlackRock and Aladdin is an exciting milestone.
• 39:04
  For our firm, we are committed to pushing the industry forward
• 39:08
  and creating new action access point.
• 39:10
  As institutional crypto adoption continues to rapidly accelerate
• 39:14
  says head of coinbase institutional.
• 39:17
  So, here we go. A little bit at the end, and
• 39:20
  this is where we'll start to go into the fails for BlackRock.
• 39:23
  The partnership is the next step in a wider strategy to expand
• 39:26
  its digital assets CEO, Larry Fink Said in March at the firm
• 39:31
  was studying the growing importance of digital assets and
• 39:34
  stable coins and how they can be used to help clients and one
• 39:37
  last Ted bit the following month, the company joined a
• 39:39
  group of investors in circle, internet Financial, the issuer
• 39:43
  of USD coin, a stable coin, so apologies for not having the
• 39:48
  links and because you could just maybe put my face on here, I
• 39:52
  went and did a little research. We want to tell you why this is
• 39:55
  a fail. Well, if you followed simply
• 39:58
  Bitcoin for a while, you know. That black rock is one of the
• 40:02
  biggest, not only, as I say, the largest asset manager in the
• 40:07
  world, but they are very, very strong handed and pushing the
• 40:11
  ESG narrative. And what is the ESG integration?
• 40:15
  You already know what it is, but for those that are new to this,
• 40:17
  it's the environmental social and government integration or as
• 40:23
  I like to call it sustainable investing and I think here is
• 40:27
  here's the meat of it ESG metrics.
• 40:30
  I'd insight into these intangibles such as brand value
• 40:33
  and reputation by measuring decisions taken by company
• 40:36
  management, that affects operational efficiency and
• 40:39
  future strategic directions. And I'm just going to read you a
• 40:44
  headline from Black Rock on their new site.
• 40:47
  Managing The Net Zero transition.
• 40:49
  We have investing in the transition to NetZero block
• 40:54
  rate, Block rock to establish Perpetual infrastructure
• 40:57
  strategy, amazing. I'm Using.
• 41:00
  And so I wanted to, you know, dive a little deeper in the
• 41:03
  Blackhawk. Let's let's see what's going on.
• 41:05
  And I found this article by Business Insider and it says
• 41:08
  nine, fascinating facts to know a black about Black Rock, the
• 41:12
  world's largest asset manager. And I'm just going to give you
• 41:15
  the headlines of it because I want to get into the fail.
• 41:18
  Aspect Block rock overseas 10 trillion dollars making it the
• 41:21
  largest money manager in the world.
• 41:23
  It runs a massive technology platform that oversees at least
• 41:26
  twenty one point six trillion dollars in assets.
• 41:30
  At Black Rock has hired. Many former government officials
• 41:34
  into senior roles then we have. The firm played a significant
• 41:40
  role in aiding the Federal Reserve in early 2020.
• 41:44
  The Federal Reserve tap BlackRock during the last
• 41:46
  financial crisis as well. Six think has been vocal on
• 41:51
  matters of climate change urging other companies leaders to
• 41:54
  consider the associated risk. And the last one, black, how
• 41:59
  Black Rock has made? Lots of Acquisitions, think of
• 42:01
  BlackRock as a firm that has gobbled up lots of competitors
• 42:05
  in its path over the years. The firm has purchased Legacy
• 42:07
  businesses and fintech startups. Looking to keep an edge as
• 42:11
  traditional money management isn't as profitable and unique.
• 42:15
  As it once was. Well, I really wish I had this
• 42:19
  for Nico. Maybe I can get it to you guys
• 42:22
  really quick in the, in the know, my camera is off to well
• 42:26
  really wrecked. Oh my God, amazing.
• 42:30
  All right, Nika, I think I need a new camera up in here, Jesus.
• 42:34
  Okay. One second guys.
• 42:36
  Here we go. Let me get this, this headline
• 42:40
  to Nico. Maybe he can get it to you guys.
• 42:42
  And the headline goes, this was dated October, 13 2017,
• 42:48
  BlackRock CL Larry Fink calls Bitcoin in index of money
• 42:52
  laundering. Well, Here we go.
• 42:55
  Again, just the narrative switch is is amazing.
• 43:00
  It only takes 45 years for people to come around or rather
• 43:03
  as I like to say they got to PR spin this in one way or another.
• 43:08
  So what do they do? They fud Bitcoin so that they
• 43:11
  can buy their position and then once they have a position They
• 43:15
  will announce that they are entering the space.
• 43:18
  This is standard standard Fudd and propaganda from no corners
• 43:23
  and shit Corners. So I put this out on Twitter,
• 43:26
  this morning, just in coinbase partners with BlackRock to
• 43:29
  provide institutional clients of Aladdin access to bitcoin.
• 43:32
  And, of course, my commentary Lowell match, made in hell.
• 43:36
  And then we got a comment here by our friend uploading logic,
• 43:39
  and he goes government, Bitcoin capture strategy, engage agreed,
• 43:43
  and we got another one by at bronze father and he goes,
• 43:46
  rehypothecation is the state attack and continued I really
• 43:52
  wish here Nico. I'm going to send you another
• 43:54
  one because As we need to see this, we need to see this one up
• 43:59
  on here because it is a meme. And, you know, me memes, paint a
• 44:03
  picture. And this one's by, at Pedro and
• 44:05
  vpg, and he goes shit, coin. Casino partnering with Fiat
• 44:09
  platform to capture more Bitcoin.
• 44:10
  Under management is not good news.
• 44:12
  GTFO of the Bitcoin custodian and we have Sovereign, Bitcoin,
• 44:16
  or kyc, exchange and investment platform.
• 44:19
  I really hope this is up for you guys to see and one more comment
• 44:23
  before I go into more of the bull, Lish Silver Lining
• 44:26
  sentiment of here. We got at ghost band 7 and he
• 44:30
  just has the Bitcoin white paper and he's underlining one very
• 44:34
  important sentence. A purely peer-to-peer version of
• 44:39
  electronic cash would allow online payments to be sent
• 44:41
  directly from one party to another without going through a
• 44:46
  financial institution, guys, this is why we do this.
• 44:50
  But Just for some silver lining stuff because we like to put
• 44:55
  some positive spin while I believe this is a fail coinbase
• 44:59
  partnering with BlackRock, BlackRock is trying to, you
• 45:02
  know, by every asset in the world.
• 45:04
  It definitely feels like regulatory or not regulatory
• 45:09
  capture. But, but a corporate capture
• 45:12
  because they are big companies, they are working together and
• 45:16
  now, they are working in lockstep to push the BlackRock
• 45:20
  narrative, which we know to be G narrative, hence, all the shit
• 45:24
  coins on coinbase. Anyways, here is maybe more of
• 45:28
  an off-the-wall take but I think this is this is actually a legit
• 45:33
  take to say what you want. You guys could rip me in the
• 45:35
  chat, but this is by Alexander leishman.
• 45:38
  And he goes, coinbase deserves its fair share of criticism.
• 45:41
  But trust me, you do not want them to lose to FTX.
• 45:44
  Coinbase has a core ethos of economic Liberty.
• 45:47
  FTX is a pure player of the game where morals only hold you back,
• 45:51
  be careful. What you wish for and what
• 45:53
  couple more and we got one by Foss Craig Foss and goes people
• 45:56
  are missing the significance of the Black Rock / coinbase
• 45:59
  announcement in my opinion it will be said in hindsight it was
• 46:03
  obvious completely agree and then this last one I gotta throw
• 46:07
  in some joke. Memes in here guys.
• 46:09
  We got mad. Oh, down he goes.
• 46:11
  Coinbase drugging Blackrock in their clients would be the best
• 46:15
  time line. So Mica, what are your thoughts?
• 46:20
  Obviously, I consider this Fail. I'm we've been covering
• 46:24
  BlackRock on here for a long time.
• 46:26
  We know what narrative they're trying to push and for claim
• 46:30
  base to be in the news for SEC fails and now they are in the
• 46:35
  news for teaming up with black rock and many people's opinion,
• 46:39
  the enemy of humanity. But hey, I am just app lab.
• 46:44
  I am a, you know, I don't have an authority figure.
• 46:48
  I am not a political pundit. I am just a guy.
• 46:52
  Guy on the internet that put in the time to study Bitcoin and
• 46:55
  starts to see things as we like to say, we are just plebs with
• 46:58
  Bloomberg account. So, Nico Jones, what is your
• 47:01
  view on this? Yeah, look black rock is is they
• 47:10
  own a slice of every major corporation.
• 47:13
  If you go to Apple, Microsoft, Facebook, Google, you'll see
• 47:17
  that. One of the biggest shareholder
• 47:19
  is Blackrock when you invest in an index fund, right?
• 47:25
  You are investing in Black Rock, right?
• 47:28
  And because of that, they own basically every single
• 47:31
  Corporation. They have a they have a In it.
• 47:34
  And because of that Larry Fink which is the CEO of black rocks,
• 47:38
  gets the voting power of holding all those shares.
• 47:42
  Therefore, he's extremely influential and Larry is a big
• 47:46
  fan of the whole ESG movement as well.
• 47:49
  So to see him allying with a company like coins coin based
• 47:55
  definitely did it out of Corporation.
• 47:56
  I mean, desperation there, their stock at Absolute hammered and
• 48:00
  in the last couple of months. Yeah.
• 48:04
  Don't don't and I think Alex lishman which is the CEO of
• 48:08
  river Financial. I'm I'm sad that he doesn't know
• 48:13
  better because I think he's wrong there.
• 48:16
  Coinbase has always acted like it was an enemy of Bitcoin their
• 48:20
  incentives. Don't align their incentivize
• 48:23
  for shit coin surviving. Meaning they have to Ally with
• 48:26
  the state in order to ensure that happens and Bitcoin
• 48:32
  inherently is anti-state. I just don't think it's
• 48:36
  compatible. So it's like, yeah, coinbase
• 48:38
  definitely sell Bitcoin, but coinbase, also sells should
• 48:42
  coins. And this really started to show.
• 48:45
  Like, I'll give you guys. An example was when coin Center
• 48:50
  was basically the lobbying effort for the Bitcoin and shit,
• 48:54
  coin dustry. But then, we got absolutely
• 48:57
  ambushed during the infrastructure Bill, the
• 48:59
  treasury snuck in some Provisions that were inherently
• 49:02
  anti. Do Bitcoins Bitcoins and that's
• 49:06
  when the Bitcoin Community realized we can't have coin
• 49:09
  Center fighting for us. It we need to have our own
• 49:13
  lobbying efforts, right? So it's like just because
• 49:16
  they're in the shit coin industry and the crypto industry
• 49:19
  does not mean that it's incentives aligned with Bitcoin
• 49:23
  right? The end of the day all shit
• 49:25
  coins are attack on bitcoin shit coins, don't need to exist.
• 49:30
  If Bitcoin does what it's supposed to do, does it?
• 49:33
  Really need to be token, doesn't need to be a token but if it's
• 49:37
  not a token then the founders can't enrich themselves, right?
• 49:42
  So yeah, virtual reality me, had a really good point, right?
• 49:47
  BlackRock owns microstrategy, I mean I would not be surprised,
• 49:49
  right? They they own a basically a
• 49:52
  steak and every major corporation staying BlackRock,
• 49:56
  and Vanguard. So I sent you a tweet by Craig
• 50:01
  Foss Opti. I don't know if you've read it.
• 50:03
  It. So I'm gonna I did wanna pull it
• 50:05
  up. Pull it up.
• 50:06
  I'm gonna, I don't know. I'll grab it for you.
• 50:09
  I have it right here. One second, apologies, guys.
• 50:12
  New computer. I am trying to figure it out.
• 50:14
  I thought I had it all worked out for you guys because here
• 50:18
  obviously it's not putting the private chat.
• 50:21
  You got it. Let me pull it up.
• 50:23
  Here we go. Greg Faust says people are
• 50:27
  missing the significance of the Black Rose Ash coinbase
• 50:30
  announcement. It will be said in hindsight, it
• 50:33
  was obvious. I agree.
• 50:35
  Look at the end of the day, you know, we're taking the more
• 50:38
  cautious pleb Bitcoin perspective, we're just like
• 50:41
  okay, but I don't really trust those guys.
• 50:45
  At the end of the day, they do have access to a significant
• 50:49
  amount of the world's wealth. And if a see, if a portion of
• 50:53
  the world's wealth has been Bitcoin.
• 50:55
  That's bullish, but I bet you none of that wealth would be
• 50:59
  taking of custody, so it would literally wouldn't be solving
• 51:03
  anything. Because now it's black.
• 51:04
  Rock, that is owning and holding a lot of the world's Bitcoin.
• 51:09
  Definitely don't want to hear that.
• 51:11
  Anyways, alright. Alright, let's move on to the
• 51:17
  meme review, I'm for the daily meme review.
• 51:21
  Brought to you by Citadel 21. It's the best.
• 51:23
  Bitcoin cultural scene is stories articles, comments by
• 51:25
  actual bitcoiners is artwork for volume 10th.
• 51:27
  This is artwork for volume 11 and is the artwork for volume to
• 51:31
  volunteer is almost sold out because there's only 1000
• 51:33
  physical copies made per volume. Get your prints of Citadel 21
• 51:36
  today before they run out. All right guys, this one's gonna
• 51:42
  be a little different than usual.
• 51:43
  This is a little longer meme than usual but I really feel
• 51:47
  that we need to play this whole video completely and since I
• 51:50
  don't have all my Other stuff. Maybe it all, it all out.
• 51:54
  It'll be a wash. Okay.
• 51:55
  So let me play this for you guys because this is absolutely
• 51:59
  hilarious. Shout out to D Whitman BTC, I
• 52:01
  tagged the wrong D. Whitman on today's Twitter post
• 52:05
  but go follow at D. Whitman BTC, he's been putting
• 52:09
  out, fire fire signal on Twitter and he got this from apparently
• 52:14
  a shit corner. But sometimes shit Corners can
• 52:18
  give you guys true. So check this out, dude.
• 52:22
  Hey. Well, I gotta say I'm incredibly
• 52:38
  excited to be part of Dow. I mean the community built his
• 52:42
  absolute. Fuck the community.
• 52:44
  And this, it's a great Suite. We can't, you can't play more of
• 52:48
  it, okay. All right.
• 52:52
  Nika Nika, censoring me guys. No, I'm playing.
• 52:56
  I'm playing. All right.
• 52:57
  Let me, let's see if I can get this other one, a couple of more
• 53:00
  of these up on here. So you can see them.
• 53:03
  We got the next one by ghosts, of Becca, she's been killing it
• 53:06
  with the Bitcoin, Twitter gossip weekly and this one, of course,
• 53:10
  I had to put it out, not just because we are in it, but
• 53:13
  because we Want to give Hot or Not some support and everyone
• 53:19
  out there. You guys should know that hot or
• 53:21
  not is the next one on the plate to battle csw.
• 53:24
  So, we are all hot or not and he is going to be in court in
• 53:28
  September to fight fake Toshi. So go give him some support
• 53:33
  because he's definitely going to need it.
• 53:35
  He's in for a battle and man Just just stand strong, hot or
• 53:42
  not. We know you're we know you're
• 53:43
  strong guy. We know you're going to make it.
• 53:46
  So let's go. Next one is by Rd B TC and it
• 53:51
  since its inflation. Again Central bank's inflation
• 53:54
  that Simpsons. He's kicking out.
• 53:56
  What is it Moe? And it goes raise the interest
• 53:58
  rate by one bip Central bank's inflation right behind them.
• 54:03
  Of course. Okay.
• 54:05
  Let's see what this next one is Nika.
• 54:08
  Tell me what's up with the Because I am not looking at the
• 54:11
  time right now, but we have one last one.
• 54:15
  Yes, we will do one last one because I think we're getting to
• 54:18
  the time. This is, by at shower hot oil
• 54:19
  and we talked about the Solana fail yesterday.
• 54:22
  So of course, I got to put a meme on here today and it's a
• 54:26
  variation of the Drake. Meme, Drake is Solana and it
• 54:29
  goes TPS equals transactions per second.
• 54:32
  Nah, TPS equals theft per second.
• 54:36
  So let's go. Okay.
• 54:39
  All right. Guys.
• 54:40
  Well, I apologize for my very clunky clunky meme review today,
• 54:46
  but I have an epic epic meme score that I picked out
• 54:50
  specifically for you guys because I do this for the
• 54:53
  culture. So, hold on, hold on.
• 54:56
  We got a basketball, because everything is basketball, boys
• 55:01
  and girls. I got some flour or wheat in a
• 55:08
  vase. Yeah, it's a good score.
• 55:11
  Anyways, guys, let us know put your score down in the chat make
• 55:16
  Opti and I feel very uncomfortable while we read it,
• 55:19
  do it quickly, we got some BTC pins, you're going to play the
• 55:25
  yellow video, right? It's Locke says Nico looks like
• 55:30
  that lady on the European beer. I'll give them a used, golf tee.
• 55:41
  Oh, man. All right, all right, guys, good
• 55:44
  scores. Good scores for some awesome
• 55:46
  memes. We are all hot a lot.
• 55:47
  Yes. Shout-out to his, his glorious
• 55:49
  fights against fake Toshi also known as Craig.
• 55:54
  Right. We got btz pins.
• 55:55
  I give those azuz hat. That's a very good score.
• 55:59
  Love your hands brother. Love your pins.
• 56:01
  Wear them all the time. On the show.
• 56:03
  Oh, Loco. Very clever.
• 56:06
  A black rock. Oh, Marius is going to because
• 56:09
  we don't comfortable. He's going to give it a Its
• 56:11
  core. He's going to give it one
• 56:13
  Solana. Nft.
• 56:14
  This is simply Bitcoin brother. You got the wrong show and
• 56:19
  Alexander gave it an orange heart.
• 56:22
  Anyways. Awesome scores for some awesome
• 56:24
  memes. Guys.
• 56:25
  Join our telegram group the link is down below.
• 56:27
  It's absolutely free. It's a hangout in their Bunch
• 56:31
  bitcoiners just posting memes. We could review the means that
• 56:34
  you post on the meme score, it's gonna be awesome.
• 56:37
  Definitely want to join. But anyways, today we have a
• 56:41
  software release. Let's check it out.
• 56:49
  All right, the software release is brought to you by Cipher
• 56:53
  safe. I first safe is the best way to
• 56:58
  store your Bitcoin seed. You don't want to store it on
• 57:02
  paper. Paper is water own.
• 57:05
  It's fire-prone. Its water.
• 57:07
  Prohm definitely don't want to do it.
• 57:09
  You want to store your seed on. Metal metal is a lot better it
• 57:16
  lasts a lot longer and its water.
• 57:18
  Roof dog-proof, it's fireproof store your seed on the ciphers
• 57:23
  Cipher wheel or the cipher grid which you can get at at Cipher
• 57:28
  safe dot IO anyways. Today guys we have a software
• 57:34
  release. Let me check it out.
• 57:36
  Let me pull up what we have today.
• 57:39
  We have the Razzo Opti is sharing the screen.
• 57:43
  I'll let Opti take it. Let's go, guys, I'm stealing me.
• 57:47
  Good job. I'm over here.
• 57:49
  Today's release is raspy Blitz version one point. 8.0, it adds
• 57:54
  web UI and additional features back in apis.
• 57:56
  Eram. Core lightning Albie.
• 58:00
  Let's go. Home dashboard itchy, sad, seek
• 58:03
  a bunk. Dang.
• 58:04
  This is a, hey, you know, this is a, this is a, this is a good
• 58:07
  release. All right, guys, I I didn't read
• 58:09
  this Nico, put this on here. Let's go.
• 58:12
  I'm gonna have to definitely update my r as P Blitz.
• 58:15
  Anyways guys, go check us out. Apple Google podcast a Spotify
• 58:22
  anchor. And, of course, we are on found
• 58:24
  nap. So, if you are part of the value
• 58:26
  for Value economy, stream of some sets, if you think we are
• 58:29
  providing value to you guys and we will be back next tomorrow.
• 58:35
  Yes, we will. We will be back tomorrow, guys.
• 58:38
  We want to apologize for any technical difficulties opt-in
• 58:41
  are transitioning the show to a live show.
• 58:44
  So you're going to see all the mistakes, all the catastrophes,
• 58:48
  We did this with the original shows.
• 58:50
  Well, you can go back to the old videos and you'll see we had no
• 58:53
  idea what we were doing bear with us while we transition to a
• 58:57
  live show. So I want to give a shout out to
• 58:59
  of our researchers. Hans he does an incredible job
• 59:02
  hanging out in the simply Bitcoin, stripped telegram chat,
• 59:06
  helping us with the research, to shout out to him.
• 59:08
  And of course, Very Special. Shout out to our awesome
• 59:11
  clothing. Sponsor represent LTD.com Opti
• 59:16
  and I wear the merch. Single day.
• 59:18
  He's wearing the T-shirt, trust. No one.
• 59:22
  I'm wearing the represent camo. Hoodie.
• 59:24
  Feel. Like I'm a militant bitcoiners.
• 59:26
  I'm always wearing the camo stuff.
• 59:28
  I like, I like the tip may come first comfy stuff, stylish.
• 59:31
  He makes Bitcoin merch obviously, because that's what
• 59:33
  opt he's wearing. He makes simply he's going to
• 59:36
  make simply Bitcoin merch. It's awesome.
• 59:38
  It's stylish. You definitely want to check out
• 59:41
  represent LTD.com guys. That was our show.
• 59:47
  Hope you enjoyed it. Like, Like I said, it's live.
• 59:49
  So you get the authenticity, but you also get the mistakes.
• 59:53
  We are your number one source for the peaceful Bitcoin
• 59:58
  Revolution. If you enjoyed the show, you
• 1:00:00
  want to see more. Definitely consider subscribing
• 1:00:04
  to silly Bitcoin and we'll see you on the next.
• 1:00:08
  One's you later, guys.