Latest / Simply Bitcoin / Biden Admin is Quietly Trying to Ban Bitcoin | EP 673

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Biden Admin is Quietly Trying to Ban Bitcoin | EP 673 · Simply Bitcoin

0:11
Yeah, we're going to Simply Bitcoin live your number one
0:13
source for the peaceful Bitcoin revolution could have breaking
0:15
news culture. Matter of warfare, we will be
0:17
your guide through the separation of money and state
0:20
speaking about that. First of all we had some awesome
0:23
guests coming today. We have Nick and jar on from
0:25
Luxor, mining pool. So we're going to talk about
0:28
Mining and ordinals which I think is really interesting but
0:30
also Nick Carter released his bit his piece and the name of
0:35
the piece I think is fascinating is called operation.
0:37
Chokepoint 2.0 is underway and And shit, coin is in its
0:43
crosshairs. And basically it outlines that
0:46
the B Administration has this coordinated ongoing effort
0:49
across virtually every US Financial regulator to deny
0:52
Bitcoin and shit coin firms access to banking services.
0:56
So it's kind of a continuation of this pattern that we've been
0:59
covering, right? So we covered yesterday, right?
1:03
The feds attempt at being hostile towards the industry and
1:07
then the first sign of this happening though was the
1:10
Rumblings. Of finance that they were
1:12
stopping u.s. u.s. dollar transfers.
1:15
So it's interesting, right? It's interesting, the direction
1:18
that this is going but I mean, this is the separation of money
1:21
and stay after all, what did you expect?
1:23
So we're going to get through all that.
1:25
But first before we start the show, when a bring up, our very
1:28
special guest, Nick and John from Luxor, how you guys doing?
1:34
Right. Happy happy to have you guys on
1:39
the show once again. And of course, my legendary
1:41
co-host. Always optimistic, how you doing
1:44
Opti? I am doing wonderful today, it's
1:46
a beautiful Thursday out here. It's no longer raining, so I
1:49
feel good, you know? I, I Rise with the, with the
1:53
environment and the weather around here, and of course, we
1:55
get that, we get to talk Bitcoin everyday Nico.
1:57
So it's a, and we're getting trolled already in the YouTube
2:01
chat, so it's a good morning. It's a good morning man.
2:03
It would not be Be simply. If you were not getting trolled
2:07
in the YouTube chat, is it Nile is Fields.
2:09
Is that what we're talking about?
2:10
Yeah, but he's got a new name today, it's but I'm going to
2:13
wait for you to figure it out later.
2:14
So let's keep it moving. Letting you know, you can't let
2:18
me coach? Okay, hold on.
2:20
Nico Jones, PhD the P stands for Oh man.
2:27
Oh man. Oh man, Friday, one doesn't
2:29
know. Check out yesterday's episode
2:30
where we go in depth about that word propaganda.
2:33
Anyways, everybody good triggered me:.
2:35
Did I was triggered anyways everybody.
2:37
Let's start the show let's do this.
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thousand five hundred and seventy SATs per dollar. 4431
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4:04
Fourteen thousand, three hundred ninety five blocks The
4:06
Happening, 64,000 238 having estimates April 24 2024, total
4:11
lightning, network capacity, 5,000 372, capacity value, 121
4:16
million dollars, realize monetary inflation Bitcoin
4:18
continues to take Fiat currencies, absolute School,
4:21
1.76 percent and the market capitalization of Bitcoin.
4:25
If billion dollars of the be in the grand scheme of things,
4:28
Bitcoin is still a tiny baby. Anyways, this is the separation
4:32
of money and stay after all, and I suspect as Bitcoin continues
4:36
to grow in market cap, you're going to see these Lively
4:40
discussions seep into the political sphere, just a quick
4:44
recap. You guys remember.
4:45
Justin Trudeau was throwing Jabs as at his future, political
4:50
opponent who was a huge advocate of Bitcoin and to you, no, just
4:55
to paraphrase that he's like Pierre.
4:57
Pull Ivar was recommending that people buy Bitcoin to opt-out
5:01
inflation. How hysterical is that?
5:02
Well it looks like in the Congress equipment.
5:05
The Canadian Parliament Bitcoin was brought up once again
5:09
anyways I'm going to play the clip and then we'll all talk
5:11
about it. Let's check it out.
5:49
Mr. Speaker, there were thousands of people that lost
5:52
their life savings because of cryptocurrency and they're
5:55
jumping back onto that bandwagon.
5:58
How ludicrous is that mr. Speaker.
6:00
It says, the type of policy advice is that the concern of
6:03
parties coming up with today. It's get rid of the, the price
6:07
on pollution because they don't give a darn about our
6:09
environment. They don't care about the
6:12
rebates that could endanger our receiving especially in a time
6:15
of inflation. And by the way, we buy more Or
6:18
cryptocurrency, mr. Speaker wow, dude, fascinating
6:24
and I'm telling you like this will continue to escalate.
6:27
Now what was interesting at the very end of that though is like
6:30
especially in these time trying trying times of inflation.
6:34
Right. Little it's so it's so
6:36
fascinating the cognitive dissonance and yeah look I just
6:41
I really suspect this will continue to be brought up but
6:44
look that politician who he didn't he didn't say crypto he
6:47
said Bitcoin. You'll be Vindicated, right?
6:50
He'll be Vindicated in you know in you know the next having
6:53
cycle, when 9 bouquet Lee and Michael sailor get Vindicated as
6:56
well. So I mean you could bash it all
6:58
you want now, right? But you know, over time Bitcoins
7:03
going to do its thing number go up technology is going to do its
7:06
thing. So I mean, how long could they
7:08
keep up that narrative, right? Because look it they're starting
7:11
to say this now in four years that guy is going to be proven,
7:14
right? It's not going to be 30%, it's
7:16
going to be 100% plus, right? So What's the argument against
7:19
Bitcoin that right there? Really isn't going to be one,
7:23
right? So, you know it, but it's, you
7:25
still have to live through it. You still have to witness this
7:27
but it's just, it's absolutely fascinating, right?
7:30
This is the separation of money and say you're witnessing it.
7:33
Firsthand you're living through these times and it's absolutely
7:36
fascinating. Anyways, Nick, I want to get
7:38
your thoughts. I mean, this is this is this
7:41
noise to you, bro? I feel like you have a lot of
7:43
other things going on nowadays. Yeah, it's mostly just noise for
7:47
me. Auditions love to talk about
7:50
this industry from a position of knowledge that they don't have.
7:54
And so with that, I generally don't really listen to what they
7:56
have to say. So yeah, it's just one of those
8:00
things where, you know, somebody it's the topic of the day.
8:03
So off they go and you know, someday like you said will be
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Vindicated and it doesn't really, it doesn't really matter
8:09
what they say. Right now we're on the right
8:11
track. So 100%, we're on the right
8:14
track, Bitcoin is doing its thing Tick, Tock next block,
8:17
John, what are your thoughts on that?
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Batman. Yeah, I agree with Nick care.
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I usually don't care that much about politicians what they say
8:25
about Bitcoin, unless they're trying to like increase power
8:30
taxes on bitcoin miners or something because that of course
8:34
works the industry directly. But in the long term of course
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Bitcoin is going to like they can't ban it anyway so it can't
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really do anything about it. So it's for me it's just To see
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them freaked out about it like that.
8:53
Yeah, no, it's definitely great. You know, you know, the meme
8:56
with the guy with the popcorn and he's just like leaning back
8:58
into his in. This is see that.
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That's what I'm, that's what I feel like bitcoiners are doing
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right now or that other me more. It's like these two people
9:05
fighting in this, like this person hitting a bomb in the
9:07
back. Those are bitcoiners right now.
9:09
Anyways, just witnessing this stuff.
9:12
That is the embodiment of Fiat. That is the embodiment, the
9:15
embodiment of Fiat politics. That's what I'm witnessing
9:17
anyways, Opti. What are your thoughts, bro?
9:19
Well, first and foremost just like, bro.
9:21
Lowell are you kidding me? Like that video was amazing.
9:26
Try harder politicians. I I couldn't have laughs harder.
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I, you guys can see me behind the scenes but I was laughing.
9:35
Extremely hard at that clip. First off he, I was reminded of
9:38
the princess diary. He was at one guy.
9:41
Like I forget what the guys name is and I forget what the meme
9:44
is, but I mean, it's just, it's hilarious that they continuously
9:48
use the like me. Volatility Fudd to make Bitcoin
9:52
seem like it's not what it is. And again, it's like Mica said,
9:56
you know, in time will we will be Vindicated and, and we'll
10:00
look back on this and it'll be, it'll be one of those memes,
10:03
where it's like, oh yeah. Remember the things we see on
10:06
Twitter Tycho, I sold my Bitcoin.
10:08
It went up to $8 and and now I you know, I wish I wish I'd
10:13
never sold those Bitcoins. That it's like this is where
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we're going to be in a few years is going to be one of those
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funny ones. Like, oh, it's Only up 30%.
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Yeah, okay. It's been up a lot since then.
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Anyways, try harder politicians. Yeah, no, I completely agree.
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It's fun to watch, but, hey, look, I think that that piece of
10:31
news was definitely noise, but during the new SEC that was a
10:34
bit of entertainment. That was the comedic relief,
10:37
because we are going to get into something that's a little bit
10:39
more serious. And I'm absolutely, I'm
10:41
extremely curious to to hear what the CEO of a mining pool.
10:46
Thinks about all this news. Anyways everybody and of course
10:50
Jaron and of course Opti. Anyways everybody, let's get to
10:53
news. Let's do this.
10:58
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All right, everybody. So this is the separation of
11:36
money and state and you can make the argument this estate
11:38
fighting back with. This is something that we've
11:40
been covering over the last couple of months but we've
11:43
continuously been given the benefit of the that we've been
11:45
giving the benefit of the doubt and saying, okay, you know,
11:47
maybe this is just maybe this is just, you know, naivety maybe
11:52
they just not educated on the particular subject but I think
11:56
That the Elizabeth Warren bill that was introduced by Elizabeth
11:59
Warren and Senator Marshall really revealed what they want,
12:04
right? Or at least, you know, that sect
12:07
of politicians. So this is B Administration.
12:09
This is a, you know, an article by fin bold.
12:12
That's not the one. I'm going to get into.
12:13
I really want to focus on the Nick Carter one.
12:16
And I want to take advantage of the guests that we have today to
12:19
get their thoughts on this, but just a quick.
12:21
The quick headline is bind Administration, contemplates,
12:24
forcing Bitcoin miners to reveal.
12:26
Ellucian data is it really about pollution?
12:30
And remember when the digital assets framework executive order
12:34
that which is released by the B Administration in that executive
12:38
order they would be setting conditions and standards for the
12:42
Bitcoin mining industry that no other industry has to adhere to
12:46
including gold mining which you can make, the argument is more
12:49
damaging to the environment. So, the case that I have the
12:52
argument that I have for you guys is this really about the
12:54
environment or is this about maintaining In the privilege or
12:58
maintaining the power over money.
13:00
Is that what it's about? So, I was waiting for this to
13:04
come out in. This is something that I
13:05
mentioned yesterday, but the article didn't come out yet.
13:07
And this is a piece by Nick Carter.
13:09
This is the name of the piece, which I said in the beginning of
13:11
the show, operation choke point 2.0 is underway and crypto is in
13:15
its crosshairs. The article goes on to say, we
13:19
began as a trickle is now a flood and I, we've been covering
13:23
this trickle. Like you start noticing little
13:25
patterns and you're like, wait a And what's going on?
13:27
Anyways, goes on to say the US government is using the banking
13:30
sector to organize a sophisticated, widespread
13:34
Crackdown against the Bitcoin and shit, coin industry and the
13:37
administration's efforts are no secret.
13:39
There Express paint plainly and memos regulatory guidelines and
13:43
blog post. However, the breadth of this
13:45
plan spanning virtually every Financial regulator, as well as
13:48
it's highly coordinated, Nature has even the most steep,
13:51
steely-eyed, crypto veterans nervous that the crypto
13:54
businesses might end up completely Unbanked stable
13:57
coins, may be stranded and unable to manage Flows In and
14:01
Out of crypto. And exchanges might be shut down
14:03
from the banking system entirely.
14:05
Let's dig in for crypto firms. Obtaining access to onshore
14:08
banking system has always been a challenge even today, crypto
14:11
startup struggle, might lead to get Banks and only a handful of
14:14
boutiques serve them. This is why stable coins like
14:17
tether found popularity early on to facilitate Fiat settlement
14:20
where the rails of traditional banking banking were
14:23
unavailable. However in recent weeks, the
14:25
intensity of Of efforts to ring-fence the entire crypto
14:29
space and isolated from traditional banking system have
14:31
ratchet up significantly. Especially the B Administration
14:34
is now executing what appears to be a coordinated plan that spans
14:38
multiple agencies to discourage Banks from dealing with crypto
14:41
firms? It applies to both traditional
14:43
Banks who would serve crypto clients and crypto first firms
14:47
aiming to get Bank Charters. It includes the administration
14:50
of itself, influential members of Congress, the fed the FDIC
14:54
the OCC and the Yo J. Here's a recap of notable
14:58
events, concerning Banks and the policy establishment in recent
15:02
weeks. Firstly, of course, there's the
15:04
infamous Warren bill that I mentioned earlier, there is
15:06
signature Signature Bank among the most active Banks.
15:11
Irving crypto clients announced its intent to have deposits.
15:14
And this is remember remember the Swift announcement came out
15:17
of Finance, right? All of these things.
15:19
It's one thing that you could say, it's Annika, it's a
15:21
coincidence, but you start to see a bunch of events and then
15:25
it starts to You know you're like okay this is this is
15:28
definitely a pattern here, goes on to say the fed, the FDIC and
15:32
the OCC released a joint statement.
15:34
On the wrist to banking engaging with crypto, not explicitly,
15:38
Banning bank's ability to hold Crypt or deal with crypto
15:41
clients but strongly, discouraging them doing.
15:43
So on a safety on a safety and sound basis.
15:47
Metropolitan Commercial Bank, Silver Gate, stock Falls to a
15:51
low of $11.55 on a bank run and insolvency fears by Ants
15:57
announces that due to the policy at Signature Bank.
15:59
They will only process user Fiat transactions, worth more than
16:02
100,000, the Federal, Reserved denies crypto Bank, custodia to
16:07
your application, to become a member of the Federal Reserve
16:10
System. The Kansas City branch denies
16:12
custodians application for a master account, the Fed so
16:15
issues. A policy statement that
16:17
discourages which discourages banks from holding crypto
16:20
assets. The National Economic Council,
16:22
releases a policy statement, not explicitly Banning Banks from
16:25
circuit our clients but strongly discouraging Banks from
16:28
transaction. From transacting with crypto
16:30
assets, the doj says Fraud Unit, announces an investigation into
16:33
Silver Gate by Nan. Suspends USD Bank transfers.
16:38
The January 27th fed statement is entered into the Federal
16:41
Register returning to policy statement into a final rule with
16:45
no Congressional review progress.
16:48
No, and paxos applications to follow Anchorage, and obtain
16:51
full approval, to become a National.
16:52
Trust Bank are still outstanding.
16:54
So in some banks, Banks taking deposits from crypto clients.
16:58
Issuing stable coins, engaging in crypto custody or seeking to
17:01
hold crypto as principal have faced, nothing short of an
17:05
onslaught from Regulators in recent weeks.
17:07
And this is something that we've picked up on, actually Opti we
17:11
were like, we're like, what's going on here?
17:13
This is, you know, it starts to become a thing where like this
17:15
is more than a coincidence, right?
17:17
It's like one thing is one thing, but it's like by Nance
17:20
the custodian Bank. The custodian Bank denial came
17:23
on the same day that the B Administration released another
17:26
Other memo of on crypto. And of course it came out on a
17:29
Friday, right? They love to release negative
17:32
news on Friday. So dies over the weekend.
17:34
So it's a bunch of, you know, it's a bunch of stuff.
17:37
Now, of course, you know simply Bitcoin were Media Company, you
17:41
know, of course, this affects us but Nick, as a mining pool
17:44
operator, you know, this this is definitely troubling, you know,
17:47
that how do you feel about this in particular?
17:50
Yes, we've seen in the past so we as a crypto Bitcoin days, We
17:56
have struggled with banking throughout our entire, you know,
18:03
tender and it's just going to get harder, are we have great
18:08
relationships with our banking Partners today but who knows
18:10
where that goes? If they start getting pressure
18:12
from the top, that could definitely become a problem and
18:16
whether we like it or not, you need to have on ramps and off
18:18
ramps. Because I people eat to get
18:21
paid. A lot of people need to get paid
18:23
in Via because that's how you pay your mortgage and buy.
18:26
My groceries. So you know ultimately it will
18:29
put a major strain on our ecosystem.
18:32
If that is the if that is the case and it does happen to come
18:35
that way, you know, from just a few examples like we got we
18:41
basically got shuttered from Chase Bank along time ago, back
18:44
in like 2018. Just one day, we got a letter in
18:49
the mail that and uncheck a letter to check that said, hey,
18:52
here's your bank accounts been closed.
18:54
Here's your money, go somewhere else.
18:55
And No 010 struggle. We had Mercury do the same in
19:02
that was after we raised capital, and we're real, like
19:06
large company. At that time.
19:08
Anyway, we were doing significant volume there and so,
19:12
yeah, they're definitely, it is also, it's always been a
19:16
struggle, and I'm worried that it will become more of a
19:18
struggle. So if you are a, you are a
19:21
Bitcoin founder, definitely, reach out to me and we can chat
19:24
about kind of what we used as a strategy.
19:26
E for keeping the on and off ramps available.
19:30
But yeah, this is, this is certainly concerning from a,
19:34
just from an operations perspective, it's a huge
19:36
headache. If you've ever had happen to
19:38
you, if he comes a major, they don't because the major
19:40
headache. But, yeah.
19:42
So that's that's kind of where I'm at.
19:44
So, do you believe that this might Force?
19:48
This might Force Bitcoin companies overseas, Hard to say,
19:54
I wouldn't say that we're there yet.
19:57
It could, it could, it certainly could.
19:58
I mean, if they start doing this like big imagine coinbase,
20:01
whether we like your regular company, not you.
20:03
Imagine they everybody. I know that's not like, a hard
20:08
court, a pointer or even crypto person uses coinbase for their,
20:13
for their portfolio of whatever. But if that starts to become
20:16
like, if it really becomes a hard-on and offer it for for
20:19
them, like the average person, Needs to have those on and off
20:24
ramps. So it's you know that that's
20:26
really the bottom line. Somebody said I need better
20:31
wexley pull that over actually, I do that, that might be so sad.
20:38
There we go. We're in business Jaron.
20:41
What are your thoughts on this man?
20:44
Yeah. So, I think long-term, this
20:49
could force businesses out of the US and also out of Europe
20:54
because I know European banks are also extremely aggressive
20:58
with kyc, probably even more than American Banks and it will
21:04
just lead to more cryptic company setting up operations in
21:08
countries, with lesser regulations of the banking
21:12
sector. And that's fine.
21:15
But the problem is that Americans are often prevented
21:20
from from being serviced by these overseas companies.
21:25
So of course, it can be a big problem but the kind of good
21:31
news about this is that or to see it from a little bit more.
21:35
Positive angle is that it's not only the perp to sector or
21:39
Bitcoin, Which experiences increasingly stricter kyc, a lot
21:45
of other Industries experience it.
21:47
And I've been talking to several completely in the average Joe on
21:52
the street who is Angry at the bank because of some kyc
21:57
problems, they can't access their account.
22:00
For some reason, they made one transaction, which looks a
22:03
little bit suspicious. And then the banks close the
22:06
transaction, and this just makes it easier to make people
22:10
understand the value of Bitcoin. For example, my, my grandfather
22:16
was like eight years old and he has some problems with getting
22:21
access to his bank accounts, like a lot of old people have
22:25
And then banks are just making it harder and harder for for
22:29
normal people. To not only bitcoiners.
22:31
So I believe long term this will just by the banking sector going
22:38
completely crazy with all these kyc.
22:41
And I am L, it will just lead them to cannibalize himself
22:44
long-term. So I'm not that worried
22:47
long-term about this. Yeah, but I agree.
22:50
I think long-term the long-term doesn't work.
22:53
Doesn't worry me. I think It is inevitable
22:55
Bitcoins going to win, but what does keep me up at night a
22:57
little bit as the transition. And what I see here is like, and
23:01
it's nefarious because it's not, it's not open, it's not that
23:04
they're doing this things openly.
23:05
It's not like they're getting, you know, congress's approval.
23:08
It sound like they're having a political debate is they're all
23:11
kind of doing this Cloak and Dagger thing, which I think is
23:14
fascinating. But clearly, you know, it, I
23:17
think that this is going to become even more difficult
23:19
because the reality is that they do control the system, it is
23:23
really it does function. Cartel.
23:25
You heard it at the very end, right?
23:27
Where the FED introduce these new rules and the new rules
23:30
didn't have to go through Congress Congressional approval,
23:33
right? So it is kind of like, and I
23:35
think that's really the way that we should be seeing.
23:37
This is like we are dealing with a money cartel and obviously
23:41
that money cartel wants to keep power, right?
23:44
Which I think is, you know, human nature.
23:47
So it this isn't surprising at all.
23:48
Now, I don't know where this is gonna go.
23:51
The end of the article goes on to say that.
23:55
That apparently a lot of Bitcoin and shit.
23:58
Coin entrepreneurs are waiting until waiting until a more
24:03
friendly Administration. Which I mean, like look I think
24:06
that the I think that nation states and countries, definitely
24:10
had a Judicial judicial Advantage before Bitcoin but
24:16
Bitcoin lives on cyberspace it doesn't adhere to you know, meet
24:20
space borders and whatnot. So I think that if the US
24:24
continues to On this, you know, this business hostile, our
24:27
Bitcoin hostile, it type of stance.
24:31
I think it's just, you know, it's really the u.s. that stands
24:34
to lose. I think that a lot of these
24:35
companies could just go overseas.
24:37
I don't see an end. This is already happened like
24:40
with a lot of the shit coin exchanges.
24:41
They've already done just that. Right.
24:43
So Nick what are your what are your thoughts on that?
24:45
Are you or you know, are you in tune with what's going on?
24:50
Is there something that you know, that you recommend people
24:53
to look into? Into what are you just kind of
24:56
like, you know, ignoring this and, you know, hoping that
25:00
things are just going to work themselves out.
25:03
Well, hope it isn't a strategy. First of all.
25:04
And and but I do hope that this I do hope that this mic is
25:07
better. But in this case I would say
25:13
that I'm just I'm a kind of I am, I am hoping a bit so I wish
25:18
I had more for you on this one. Usually have pretty try to give
25:21
strong opinions, especially when you get me on simply Bitcoin,
25:23
which is, you know, a not very bombastic show but I don't have
25:28
any right now. Maybe yarn does yarn.
25:31
What do you got? Yeah, I'm I'm also very
25:37
optimistic about things, generally.
25:39
I usually don't worry about things like this, but I think in
25:44
the long term, of course, Bitcoin is going to survive
25:46
everything like this. But it can, it can create
25:50
problems for Americans. And as I said, all of you are
25:56
Americans. I'm not an American that I'm
25:58
Anna Richmond. I'm from Europe and maybe they
26:02
will also go after me. He who knows?
26:06
So yeah, it can create some problems for a lot of
26:10
bitcoiners, but we just have to work work through it.
26:14
So if well, if I mean, let's put it this way Bitcoins going to
26:18
win. I'm not worried about that in
26:19
any way. It just matters, you know, is it
26:22
going to be, you know, I don't want to be 80 when it happens.
26:25
I prefer it happen. A little sooner and I certainly
26:27
think they can make it, they can slow it down a lot, but it like
26:30
we all know, it's inevitable at this point the the time.
26:33
Chain cannot be stopped and will continue forever long long past
26:38
my lifetime and probably the heat life kind of humanity.
26:41
As long as you know, the Earth stays as long as Earth stays the
26:48
way it is now and it isn't consumed by the sun in or were
26:51
at least off the planet by then Bitcoin will continue to run.
26:54
There's no way to stop it at this point.
26:56
Yeah. Of course and I completely
26:57
agree. You definitely can't stop the
26:59
honey badger. But hey man.
27:01
That doesn't mean they're not going to try it.
27:03
Nick, if push comes to shove, would you be willing to pack up
27:07
and move to the land? The new land of the free El
27:10
Salvador? I mean, I don't know about that.
27:14
I mean, I'd have to talk to my wife about that one.
27:16
I'm sure she has some opinion on that one.
27:19
There is, there is a lot to life and, you know, doing business as
27:22
one of them but you know, living near your family is also really
27:24
important. So I don't know if I'd ever do
27:26
that but you know, there may be there may be a case for
27:29
definitely offshoring. Parts of the business especially
27:32
as they make it more and more difficult.
27:33
Cult and my hope is that we don't get to that point that the
27:37
government start to see that as they put pressure on businesses.
27:42
Businesses naturally, tend to pop up elsewhere and you know
27:45
imagine ft x didn't happen like imagine like the real like ft x
27:49
was a real exchange and you know we got to see an American Build
27:54
an exchange and it became one of the biggest businesses in the
27:57
world and then it had to be offshored because the the United
28:01
States want to let it operate here reasonably, that would be a
28:04
terrible story. I mean, obviously it ended up
28:06
going the other way but there are going to be examples where
28:09
in the future that happens where businesses aren't built in the
28:12
u.s. because of the regulatory environment and ultimately we
28:16
lose out you know as a country the United States loses out on
28:20
as a country on all of the revenue that comes along.
28:23
With allowing business to be done inside these borders. 100%,
28:27
I completely agree with that statement, Opti you want to
28:30
chime in before we get to talk about Mining and ordinals.
28:34
Yeah, I mean, well obviously, this is not about pollution,
28:37
it's kind of something. We've been talking about for a
28:40
minute here on the show. Like we are very, very much in
28:43
the then they fight you stage and the on and off ramps are
28:47
chokeholds. I think I think as any Bitcoin
28:50
ER, with a brain still And can see that, that is where they're
28:55
going to try to clamp down if they're smart, is by stopping
28:58
people from buying Bitcoin, on these regulated exchanges.
29:01
And we're not just seeing this in the u.s. we're seeing this
29:04
happen. All around the world and I'm
29:06
with Nick man, I really do hope that America figures this shit
29:10
out and you know like works with Bitcoin versus trying to ban
29:15
Bitcoin because we say all the time you know like you can't ban
29:18
yourself from are you can't ban Bitcoin.
29:19
You can only ban yourself from Bitcoin and so if If the people
29:23
in power still care about the citizenry that they're supposed
29:27
to be working for then they should be aligning themselves
29:31
with Bitcoin because Bitcoin helps humanity and Bitcoin is
29:34
you know force of good versus force of evil.
29:38
Like they try to paint it as and then you know on the flip side
29:43
this will just push people to peer-to-peer Solutions like it
29:46
will just force the Bitcoin circular economy and so again
29:49
you know we say it all the time like everything's good for
29:51
Bitcoin and I think I saw Molly bent say like we should just
29:55
kind of lean into this like yeah US Government like ban Bitcoin
29:58
and then just we'll just prove will have a will have a will
30:02
have a war out. There will have a real-life
30:04
experiment showing that you can't stop Bitcoin.
30:07
You know, trying to start tried to stop Bitcoin and it didn't
30:10
happen and the the Bitcoin circular economy will just grow
30:13
and people will start using Bitcoin peer-to-peer and it, you
30:17
know, Bitcoin will just ride around this.
30:19
So again, you know, obviously we A joke about moving El Salvador.
30:24
I don't want to move to El Salvador.
30:25
I would much rather be a bit cooler in America.
30:28
I love America. I love my family, I'd like to
30:30
see them again versus having them go down to El Salvador with
30:33
us, but I don't know. My route.
30:35
One question is like, is this just talking about like, crypto
30:38
businesses, like shit coin casinos?
30:40
Or, you know, like, well, it's the whole in the whole thing.
30:43
Exactly. So it's like back to this whole
30:46
idea of like trying to separate Bitcoin from from Chicago and I
30:49
don't I don't think it, I don't think it matters I think you
30:51
know, I know but it makes it It's like she Corners make us
30:54
all look bad. Of course, this shit Corner,
30:57
this shit Corner blow-ups is the ammunition for politicians,
31:00
right? And like, it's interesting
31:02
because they waited to deny Caitlin Long's bank.
31:06
They had FTX had to have blown up and then that's when Senator
31:11
Elizabeth Warren jumped on it. That's when they denied the
31:14
custodian Banks, like they needed the justification, they
31:16
needed the excuse, but it is, it is a shadow War, you know, and
31:20
it's something that Opti we picked up on this like we're
31:22
starting out Seeing patterns are like, what is going on here?
31:25
Something smells fishy but no, the Nick Carter wrote a great
31:30
pre great piece and just outlining like look, this isn't
31:33
just coincidences, this isn't just you know, this is this is
31:36
actually happening, you know? So but look at the end of the
31:39
day this is the separation of money and say, what did you
31:42
expect? Anyways, everybody, let's talk
31:44
about mining. Let's talk about your nose.
31:46
Let's get together. Let's do this.
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Anyways, guys, we hope to see a lot of you guys in the flesh at
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those conferences. Anyways, Opti, I'm excited for
33:09
this, bro. What are we going to talk about
33:10
today? All right, well, all the rage
33:13
right now is ordinals, and so I couldn't couldn't have picked a
33:17
better guest to talk about ordinals, as you guys.
33:21
See right here, we got this coin, this article about, as
33:24
they put it in their their tweet, a massive 3.94, MB
33:27
Bitcoin. And if T was minted by Rudy,
33:30
using ordinals and Mind by Luxor team and the largest Bitcoin
33:34
block ever mind. So maybe we can just first and
33:39
foremost, Nick, I know you've been going pretty hard on
33:41
ordinals lately on Twitter, so maybe you can talk about
33:45
ordinals in your opinion. And then also, you know what the
33:49
thinking was behind this. Yes, if 3.94 megabot, yeah.
33:53
I mean well, coin desk why? I don't know why they're
33:55
spreading Fudd. It was three point nine, six
33:57
megabytes but you know, give me all the MB that I can get.
34:02
No. So anyway, this came around.
34:04
This is literally seven days old write this whole thing.
34:08
Like we've gone from zero inscription, web, maybe 100
34:11
inscriptions to like 40,000 in seven days.
34:14
It's Insanity. So we'll start with that.
34:19
What kicked this off was? There was a, there was a
34:22
somebody that's been working on something called ordinal Theory
34:24
which is the idea that you can like number individual
34:28
satoshi's, there's two point, 1 billion quadrillion, satoshi's
34:31
you can individually number them and identify them specifically
34:35
using a numbering scheme. This has been around for a long
34:37
time, way before, all of this, this Mania and hype and
34:40
everything. The idea and it was done by KC
34:44
Radha. More was the guy's name,
34:46
brilliant Dev. And anyway, he's also a Bitcoin
34:49
core Dev this Idea has been around for a long time, even,
34:53
you know, back to the like the Genesis block, like the Genesis,
34:55
the, the first Satoshi of the Genesis block is considered the
34:59
Mythic Satoshi, the rarest ordinal, there is.
35:03
And then there's like other ones that are considered rare like,
35:05
you know, the first Satoshi of any block, or the first Satoshi
35:08
of a difficulty pot that sort of thing.
35:11
Anyway, that's the idea behind ordinals, and then there's this
35:14
thing, came along, called inscriptions.
35:16
So an inscription is where you can actually take some extra
35:18
data and assign it to an ordinal.
35:20
And then it's the ownership of the inscription.
35:23
The extra data can be delivered via transacting the ordinal,
35:28
which is just a utx. Oh, that's where the Catalyst
35:32
moment was. And so immediately had a group
35:36
reach out to us about. Hey, we it's, they were like,
35:39
Hey, we're pretty sure it's technically possible to build a
35:42
transaction that is 4. MB, like it will be accepted by
35:45
the network and I was like, I don't know if that's true.
35:49
So I went and looked at Bitcoin core Code and was like, yeah, it
35:52
pretty pretty damn sure. It will.
35:54
And so we started like, putting together the transaction and
35:58
that's, that's kind of the Genesis that's where it
36:00
happened. And so we put it in, you know,
36:02
we put it in the block and that was really the start of ordinal
36:09
/, inscription Mania. And now it's it's absolutely
36:13
pandemonium out there in an ordinal and so hopefully that
36:18
gives you like a really like brief high level overview of
36:20
like, Like where we were, how we got, where we are and like, what
36:23
the status of things are today? Like, yeah, we just were just
36:26
about to Eclipse 40,000 ordinals, and we were at 30,000
36:30
about six hours ago when I went to bed now.
36:33
Yeah, I think that was a great high level view of it and then I
36:36
think we'll give you the hard-hitting question that.
36:39
Probably everyone of our listeners wants to know, is
36:41
ordinals an attack or is ordinals a boon to bitcoin
36:44
miners? Or is it a nothing Burger?
36:48
That is really the question as of right now.
36:52
I am not sure Jimmy song seems to think that it's an attack.
36:56
You know, you mentioned he's gonna be playing poker a
36:59
hopefully, I can get heads up against him and we'll have a
37:01
little discussion about it but yeah, I don't know.
37:03
It's it's really interesting. I've always been a proponent of
37:07
if the protocol allows it, then it's valid bit.
37:10
Like that's Bitcoin. I mean, that's what happens.
37:13
Like when I kind of relate this back So when they were trying to
37:17
do ofac blocks like Mara put Marathon was trying to mine ofac
37:21
blocks, not a good idea from you know, from a profitability
37:26
perspective you're losing out on valuable transactions but the
37:29
protocol allows you to select the transactions that you want.
37:32
And with that, I was okay with it.
37:33
I mean, I'd prefer they didn't but I was okay with it.
37:35
In this case, sort of in the same vein, the protocol allows
37:39
it, and now we're seeing some really interesting market
37:42
dynamics, take effect, we're literally every block is
37:46
completely full. All and miners are making more
37:48
than they've made in a long time.
37:50
And the transaction fee volume is like, we basically set a
37:53
floor now for transaction fee volume.
37:56
And I'm wondering if we've accidentally like, if by adding
38:00
Taproot and making this possible, we accidentally solved
38:04
the security budget problem that has been looming for Bitcoin.
38:07
And this could be, you know, one of the greatest things ever
38:11
happen to bitcoin, the caveat to that, is that what happens if
38:15
you know, we Got to fill up every block with random jpegs
38:19
and now we're takes way longer to sink.
38:22
The do an initial blushing, download and all of that, I
38:27
don't know. The answer is, I don't know.
38:29
I'm pretty excited about it because I think like as a minor
38:32
like I was really looking at this through a mining lens
38:34
initially, you know, thinking about.
38:36
Wow, this is going to really set the base for the floor for my
38:40
company and my customers profitability.
38:45
But now it's turning into something much More yarn.
38:48
You want to chat about like the economics at all of this?
38:50
I know we've been talking a lot but it is really been top of
38:53
mind for me. I'll make it just to continue.
38:57
You're on fire here. All right.
39:00
Well, we've seen it. It's yeah, it's crazy.
39:05
So maybe what can I answer? I feel like I've given a bit.
39:08
Okay, okay, well I'm saying, hold on Opti I'm in trajectory
39:12
I'm interject. Yeah, jump in, jump it.
39:14
Okay so Nick We saw I'm not to name any names, but we saw very
39:19
predominant bitcoiners feel a certain way about ordinals.
39:24
They were saying that potentially, you know, sensor
39:27
some transactions. I had to do with ordinals you as
39:31
a mining pool. Operator, both you guys
39:33
represent Luxor represents about things like 7% of the of the
39:37
Bitcoin hash rate last time I checked.
39:39
So theoretically you could sensor.
39:41
But I mean isn't that anti Bitcoin?
39:43
What are your thoughts on that as a minor?
39:51
It's really hard to say, man. Kiki.
39:56
Repeat the question for me. Yeah.
39:59
Watching for me. No worries.
40:00
No worries. So a lot of bitcoiners were
40:05
calling for the censorship of ordinals, right?
40:09
Very predominant bitcoiners not to name any names.
40:11
What are your thoughts on that? Because you are a mining pool
40:14
operator. So therefore you have the
40:16
ability to pick and choose what transactions are included in the
40:19
block. There you go.
40:20
Okay, understood. So what you're talking about and
40:24
I'll name it. Is Luke test, Junior Luke Dash
40:27
or whatever they call them. He put out a patch that you can
40:30
apply to you build into your Bitcoin.
40:32
Do you have to be able to build Bitcoin D?
40:34
Which obviously not a lot of people are going to do but you
40:37
can build that into your home node or your note and it will
40:41
remove little trim or it'll keep those transactions from coming
40:45
into your mempool. They will still be in your
40:47
blocks that are mined by pools, but it'll keep them coming into
40:50
your mental. Okay?
40:52
So that's what we're talking about.
40:53
Is this patch that keeps? It's basically filtering that
40:56
data from your mempool so it won't be in there.
41:00
We got there, we had folks, ask us Maxie's that were really
41:05
angry about this happening. They said to you, why don't you
41:08
run the patch? Well, the answer is I can't, if
41:14
I don't run the patch, if I run the patch, my pool immediately
41:18
becomes less profitable than all of the other pools.
41:22
And so in and they said, well, you know, you're then attacking
41:24
Bitcoin and I said well every then in that case, everybody's
41:27
attacking Bitcoin all of the other pools are doing it.
41:30
You know, I'm really the only pool operator and see Eeo out
41:33
there talking about this right now, but none of them are going
41:37
to run the patch. I can guarantee you that because
41:39
they will be leaving a lot of data.
41:41
A lot of satoshi's on the, on the table for not only
41:46
themselves but for their customers.
41:48
So, in that way, it's were somewhat Bound by the network
41:52
here to to not run the patch be economically incentivised, which
41:58
is, you know, miners at the end of the day they're ruthlessly
42:01
profit-driven. No matter what happens there
42:04
ruthlessly profit-driven. In fact, that's the reason that
42:07
Marathon decided they didn't want to do those effects.
42:10
Think those ofac filtered blocks anymore is because they knew
42:12
they were going to be missing out on too much V volume.
42:14
So they ended up getting rid of that the market rewarded them
42:18
for it and now they're one of the largest Miners and they you
42:21
know, they have the highest market cap for it.
42:24
Really what I'm saying is, if we censor our own blockchain or our
42:27
own mempool, without others doing the same, we're at a huge
42:31
economic disadvantage and we'd effectively be all Truest eclis
42:34
removing this from the mempool. And then also, the very next
42:38
block that we don't mind is going to have that data in any
42:40
way. So with that in mind, that's
42:43
kind of where we're at. Like we're very handcuffed into
42:46
into holding and running this into running, you know, the
42:51
vanilla Bitcoin without the patch.
42:52
So, hopefully that answers your question.
42:55
It's, it's very black and white. It doesn't require much Nuance.
42:59
It totally does. It totally does.
43:01
But I really appreciate you. Explaining it, Nick because I
43:04
think that a lot of people don't have the position.
43:07
You're seeing it from the vantage point of look, this
43:10
doesn't make sense to me because the incentives are not aligned.
43:13
This is an economical for me to do this.
43:16
I'm not thinking it from an ideological perspective, which I
43:18
think a lot of people from a, from a position that you are not
43:23
in personally, right? They're not looking at it that
43:26
way, they're looking at it totally from an ideological
43:28
perspective so very, very valuable.
43:31
I really appreciate that, answer.
43:32
And a I think it's fascinating and I think that answers and
43:35
closes a lot of things. So, but but why do you think?
43:38
And of course, like this is a personal opinion.
43:40
Why do you think that a lot of the fears was that ordinals was
43:44
somehow going to fill up, a lot of the Bitcoin blocks?
43:47
Are those fears misguided? Are they overblown?
43:51
My perspective is the fee Market is going to do its thing and
43:55
take care of that, right? This is happened in Bitcoin
43:57
before, there's something called Bitcoin, satoshi's dice, or
43:59
something like that and it just got priced out.
44:01
Eventually is this the same case?
44:03
Here. Yeah, so really interesting.
44:06
Phenomena I have like again, this is really, really
44:09
interesting and I have a lot to say about it.
44:12
So when you, when you mention like Satoshi dice, yes, that's a
44:15
great. A great example, where at that
44:17
time there was not a lot of that was very early on a Bitcoins
44:20
life and people would, you know, they were spamming Trend very
44:24
small transactions. Basically winning effectively
44:26
dust at the time but it's very similar when economic activity
44:31
on Shane picked up Satoshi dice rolls Went down and so that's
44:35
what's going to happen here, we're starting to see like the
44:38
way these Dynamics play out in the mempool and the block and
44:43
the transactions that are included.
44:44
Financial transactions, are much more valuable to mining pools.
44:48
They are that you, they you pay four times more fee.
44:52
And so what we see is in so this is, you know, when we see a very
44:55
long block, meaning there's a block that say 30 or 40 minutes,
44:59
instead those blocks include almost exclusively Financial.
45:03
Actions because they end up pushing the ordinals out of the
45:06
the mempool because the ordinals don't pay as much vsat for B,
45:11
sat / v b. And so that's really
45:14
interesting. And I'm that make that really
45:16
gives me a lot of hope that we do see this more as a, as a base
45:22
load or a floor for fee, volume, or 44, transaction, volume and
45:28
fees as opposed to taking up mems mempool space and just
45:32
becoming You know and a JPEG chain and then one other point
45:37
that I wanted to make about like you know blockchain bloat and
45:42
all of that was when we added Taproot whether we knew what
45:47
this involved, we agreed to 4, MB blocks.
45:50
That's what we agreed to like if these were all Financial
45:53
transactions say every single person in the world is using
45:56
Bitcoin to send money and you know lightning channels are
45:59
being open and closed hundreds of thousands of times a day.
46:04
We would still see 4 MB blocks and that's what we signed up
46:09
for. When you know, I was proposing
46:10
cat food. I was mostly proposed, I was a
46:12
proponent for Taproot because of the privacy and efficiency gains
46:16
that you get from it. And then also a lot more of the
46:19
really interesting like script ability.
46:21
You get better wallet support like different functionality,
46:23
more complex, wallet configurations, all of those
46:27
things, I was a very big proponent of and so when we
46:31
decided to introduce Reduce Taproot.
46:34
We agreed to 4 MB blocks. Now, people are just upset about
46:37
what's in those 4, MB blocks? But do you when you say that was
46:42
an unintended consequences? That was something that people
46:44
don't represent. See 100%.
46:47
They were not like, okay, we're going to put Taproot, you know
46:49
we're going to add this Taproot thing.
46:50
It's going to allow us to write very complete you know much more
46:53
complex. Multisig wallets vaults time
46:56
locks all the cool like wallet and financial transaction
47:00
functionality that we wanted to see But now we're putting, you
47:05
know, punks and jpegs and whatever in there.
47:07
So that is an unintended consequence and that is
47:12
something like I'm one of my key takeaways from this is that
47:15
changes the Bitcoin or I have just become 10 times if not 100
47:20
times more difficult because the scrutiny necessary for these
47:23
changes needs to be, you know, we need to be understand.
47:27
We need to understand that we're changing money, like the most
47:31
fundamental aspect of airbending.
47:33
Economic prosperity and and for the world and all of history.
47:40
So this is like really important.
47:41
And so when we make changes to bitcoin, we need to think about
47:43
it with that level of scrutiny. And I think that this event will
47:47
cause that I do think this hardens Bitcoin makes it better
47:51
long-term. I don't think 4 MB blocks are
47:53
that bad? Maybe, you know, maybe right
47:55
now, people think like when you scroll Instagram bro you open up
47:58
Instagram. You're going to, you're going to
48:00
use 250 megabytes right there. So, there you go.
48:03
There's Our entire days worth of blocks a block data.
48:07
So let's go. Like, I think that we're going
48:10
to be okay. I think as long as we stay up
48:14
for MB, we're going to be okay. A lot of people are asking about
48:17
prune ability there. There's a lot of debate around
48:20
whether you can prune here. But even pure Richard, I think
48:24
yesterday tweeted that you can. If, you know you assume valid at
48:27
some certain height, you can prune all of the data before all
48:31
of the witness. Data prior to that.
48:35
So unless you're doing a full sink, like if you're doing a
48:38
full sync, you may need to include that data, but it
48:41
doesn't need to be included forever.
48:43
If you have like some assume valid and that's just witness
48:46
data. It's not like the rest of the
48:48
Trent transaction data. So you still get a full
48:50
verification makes anyway, makes sense.
48:53
Fascinating fascinating. Well really appreciate, I think,
48:56
you know, it's very unique because again, there's very few
49:00
people that are in your guys's positions.
49:01
You guys are working at one of the Just Bitcoin mining pools in
49:04
the world and you're seeing it from the mining perspective from
49:08
the mining of vantage point. And I think that definitely
49:10
cleared up a lot of misconceptions that people's had
49:14
people had. As it relates to ordinals, by
49:16
the way guys, we are doing it Twitter spaces.
49:18
So if you have any questions that we didn't hit, just go to
49:23
this, a good, go to the simply Bitcoin account on Twitter, and
49:27
you'll be able to find us and just join the spaces.
49:29
And then we'll be holding the spaces until 2 p.m. and you can,
49:32
it is your chance to ask Jerry. Ian or Nick, any any core, any
49:36
questions directly to them? I know he's a really apologize
49:41
to yarrow because we brought him on to talk about way more.
49:45
We can do that. We can do that in the Twitter in
49:47
the Twitter spaces. Yeah, don't worry.
49:49
This is the energy like yeah, that drastically more important
49:53
than jpegs on the blockchain. But yes, we'll and but
49:58
unfortunately, jpegs on the blockchain, very controversial
50:01
topic, we're at the will be on, someone's returned.
50:03
Thing, it's the crew. Never that's all every anyone
50:06
wants to talk about nowadays. But yes, because of the because
50:09
of the format of the show were a little bit constraint.
50:11
I'm sorry. Darn, I really apologize.
50:14
But we will pick it up again on Twitter spaces, but before we do
50:18
that, we got the meme review everybody.
50:20
Let's do it. The daily meme review brought to
50:26
you by Kaboom racks. I get this question all the
50:29
time. Nico.
50:29
Where should I buy Bitcoin miners.
50:31
The answer is Kaboom racks. It's the best place to buy
50:34
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You got to go to T dot me, slash Kaboom racks.
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Join their telegram group and start your mining Journey today.
50:48
Kaboom racks. Everyone still loving loving the
50:56
mean review from yesterday, we're still getting trolled.
50:58
Anyways this is your favorite portion of the show guys, demean
51:01
review where we review Your Meme.
51:03
So continue to tag us on Twitter and we will get your memes on
51:07
the show or drop them in our telegram group and we'll get
51:10
your memes on the show. But of course, Drop Your Meme
51:13
review. Score in the chat, we will cover
51:15
them live. As we say all the time, tweet to
51:17
the bullet mean, for the artillery continue to meme,
51:20
continue to put Hat in the ring. This is an information war and
51:24
we need to continuously push that signal that Bitcoin signal
51:28
the truth signal as I like to call it every day all day as
51:32
many as many memes as possible like blocks in a day.
51:35
Anyways, first won by 21 JC LP Bitcoin or nothing hashtag
51:40
Bitcoin 24/7 and we got big hunter, nothing.
51:43
I think this is like our Chang Angel Michael or Gabriel over
51:47
here. Battling the forces of evil,
51:50
that is the fee. Fiat system with laser eyes and
51:53
Bitcoin will overcome it all. Next one shots at the Gregg, zaj
51:56
Uno, or Greg zaj one and this one's hilarious.
52:00
He's got this experience hot ler with laser eyes.
52:03
It's looks like he's might be a living dead soldier here.
52:09
Walking through the swamp of shit, coronary, and Fiat worlds,
52:13
and he's got, he's got a rubber ducky around him.
52:17
And so the experience, holder, with the rubber ducky floaty and
52:21
the Cody is memes, and we got little duckies behind us
52:24
following the no corners and pretty Corners.
52:26
This Is Us trying to infiltrate the Normie world through our
52:31
memes. All right.
52:33
This next one, shouts out the pledge signal BTC and this is
52:37
more of a screenshot but I really like the the mean he
52:41
created together. It's a picture of our screen
52:43
shot from The Truman, The Truman Show Jim Carrey movie.
52:46
And he goes hashtag Bitcoin is the way out and if you seen The
52:50
Truman Show then you know This scene where he escapes The
52:53
Truman Show Bitcoin is the way out guys.
52:55
Bitcoin is the exit from the Fiat clown world.
52:58
And then of course, Nico, we got this one from yesterday's show.
53:01
If you don't get this reference, can watch yesterday's show.
53:04
Shouts out to our boy. Copernicus is son 6 on Twitter
53:08
and he goes spicy show today. And we got Nico from the, from
53:12
the thumbnail with his laser eyes.
53:13
Nico. Hey, hey you.
53:15
Yeah you I'm an educator who propagates Master narratives a
53:18
Bitcoin truth. Let's go.
53:23
Okay. This next one, shouts out to
53:25
Mastermind USA and he goes fight, fifth generation of
53:30
warfare with fifth generation of warfare.
53:33
And we got this Samurai Pepe in the suns, in the sunset, with
53:37
the samurai sword. And it goes, we are fighting a
53:40
trillion-dollar propaganda machine with memes.
53:43
This is what we're doing here every day day in day out.
53:46
This is what you guys are doing on Twitter.
53:48
You are fighting a propaganda war with the memes.
53:51
Anyways, this next one, shouts out the ghost of Becca shots at
53:54
the back and she goes, good morning and there's this
53:56
silverback gorilla sitting there with his hand in his, his head
54:00
in his palm and he's just thinking, I don't have enough
54:03
Bitcoin. This is what we're all thinking
54:05
right now is bitcoin. Price starts to move off the
54:07
bottom. And this last one.
54:08
This I literally just saw this as a as my my feed was blowing
54:13
up. So, shouts out to Cipher hoodlum
54:16
and he goes this is I think this is what Allah's bitcoiners out
54:20
here. All is plebs out.
54:21
Stacking sats are thinking we got a fight over here and in a
54:25
restaurant we got ordinals good or knows bad.
54:29
And then it's just me stack and they're sad while they're
54:31
distracted. This is the way continue to
54:33
stack. Oh man, it's beautiful being a
54:37
Bitcoin. ER, it is beautiful.
54:38
Anyways, my mean review score, drop it in the chat and we'll
54:41
cover it live. Oh, I know what it is.
54:44
My mean review score for today. This might be a simply Bitcoin
54:49
exclusive it is this half. It burnt Sage that I use to
54:53
cleanse my areas. What are you up to man?
55:00
We are friends of things. All kinds of things if you know,
55:02
you know, I'm gonna give it this roasted seaweed snack.
55:07
Yeah, yeah wait, what are you doing?
55:11
Eating some seaweed bro? Anyways, yarn row to give those
55:15
Jared Nick meme review scores How much is this?
55:29
This is the Celsius. Bankruptcy documents.
55:32
I don't know why they sent them to me, but here we go.
55:35
Oh man, they sent them to me overnight.
55:39
And yeah. There you go.
55:40
There's all of them yesterday just have some intern sitting in
55:44
a sitting in a dark room with a printer somewhere printing out
55:49
thousands and thousands of pages.
55:52
Yeah I like Yarns I like Yarns been way better.
55:56
Man. Well this is some good scores
55:58
dog and the Celsius. Bankruptcy documents.
56:01
Anyways guys, I think it's huge, it's huge man.
56:04
Anyways guys, before we read your scores, I wanna give a
56:06
shout out to her clothing. Sponsor Opti.
56:07
And I wear the March every single day.
56:08
I'm wearing the simply Bitcoin merch.
56:10
It's sold out basically, but the shirts and hats are still
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available. Opt he's wearing the Hat, take
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advantage of the promo. Code simply Dash Bitcoin.
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56:19
LTD.com store score anyways after you.
56:22
Let's let's do three. Three or four.
56:25
Okay, well I got this one first one Rave elevator, I give the
56:30
memes one, Nigerian Bank, Run line, 500 Degrees.
56:35
Next one. Jesus, Matt Fry, I rate.
56:38
The means one cry harder money, jpg stackin SATs.
56:41
I got two more off the Rope. Reading the memes and orange
56:45
tarantula. And last one, before the buzzer.
56:48
Yeah. Nico Jones.
56:50
PhD, the pH P stands for propagandist the score.
56:53
Today's propaganda the the in the gulag camps, we become the
56:56
change in people. Oh man.
56:59
Oh man, it's Jesus okay anyways. Buddy, thanks for joining us.
57:05
Another episode of Simply Bitcoin live.
57:07
I want to give a shout out to her guests Jaren, Nick, where
57:11
can people find you? What are you guys working on
57:12
nowadays? Which is an obvious question.
57:14
Go ahead yarn. You can find me at me, I don't
57:19
know. Yeah, my literate game L wrote
57:22
on Twitter or at half rate index just follow polar publish.
57:27
A lot of research on Bitcoin mining, Awesome by unique for
57:33
you. People find you at hash
57:35
underscore bender on Twitter also at Luxor Tech Team.
57:39
If you want to come yell at us about jpegs or, you know, talk
57:43
about energy and the fundamental underpinnings of our economic
57:46
system. Happy too.
57:48
Happy to discuss. All these things prefer talking
57:51
about energy but you know, everything or those are the
57:54
topic of the day, so let's, let's go.
57:57
Those are where you can find us appreciate the time today, guys.
58:01
Thank you guys so much for coming on something.
58:03
Bitcoin live guys, the party does continue, we are hosting a
58:07
spaces with our friends. Over at Swan, Bitcoin.com best
58:11
place to Stacks at built by bitcoiners for bitcoiners.
58:14
Shout-out producer Jacob. Yeah.
58:17
Yeah, so we're going to be hosting a space with these two
58:19
gentlemen. If you have any questions as it
58:21
relates to ordinals, mining Mining and energy.
58:23
I'm going to focus on that for yarn.
58:26
I feel bad so we're going to focus on mining and energy.
58:29
Definitely, jump in there. Get up in the audience.
58:32
Asked these gentlemen, questions, all you want as it
58:34
relates to mining to be awesome. Love you guys.
58:37
We will see you tomorrow for another episode of Simply
58:40
Bitcoin live.