Latest / Simply Bitcoin / Michael Saylor Goes Full Degen, Collateralized Bitcoin to Buy MORE Bitcoin | EP 461

Transcript

Michael Saylor Goes Full Degen, Collateralized Bitcoin to Buy MORE Bitcoin | EP 461 · Simply Bitcoin

0:00
I don't believe sufficient ever have a good money against before
0:04
we take something out of the names of governments.
0:08
Welcome back everyone. We're simply Bitcoin.
0:10
We break down the news. The daily fail mean review
0:13
software releases and the plebiscites joining us today
0:17
co-founder and CEO of foundation devices of talking about Zack
0:22
Herbert but right now we are diving into the numbers.
0:25
Let's do it Nico brought to you by Bitcoin 2022.
0:30
It's gonna be the largest Bitcoin conference in the world
0:33
ever hosted its April 6th and 9th.
0:36
That's right. It's coming up.
0:37
It's in less than a month. Get your tickets quickly before
0:40
the price increases speaker list includes present 9 buchelli of
0:45
El Salvador. Michael sailor, say 15, Adam
0:48
back, Jack mahler's, Senator Cynthia, lummis dr.
0:53
Jordan Pederson and many, many more and good news.
0:56
He could take advantage of the link down to the link
0:58
description to get 10%. Off your tickets to largest
1:01
Bitcoin conference in the world Bitcoin 2022.
1:05
At the time of this recording the block.
1:06
I did seven hundred twenty nine thousand five hundred
1:08
ninety-nine the Bitcoin price forty seven thousand seven
1:11
hundred chain rewrite days. 732 total public lightning capacity.
1:17
Look at this climbed even higher than yesterday.
1:19
It's a new all-time high 3590 4.41 Moscow.
1:23
Time 2096 blocks to The Happening 110,000 401, and the
1:28
samurai whirlpool. The unspent capacity, Samurai
1:31
Whirlpool is a coin Joiner collaborative, spend service.
1:35
It is not a mixing service and the unspent capacity is 4445.
1:40
Dot 28, the numbers, Nico numbers looking good, looking
1:45
good there pretty anyways. Check this out, isan Mega darn
1:49
fire their the by the way for anyone doesn't know.
1:52
They are the ones that run our tick-tocking Instagram.
1:54
So shout out to them, those Zoomers and they sent us some
1:58
questions from people. That watch our Tick-Tock and
2:01
stuff. Just weird.
2:03
Because, anyways, I'm too old for that, Phil, okay, I was
2:06
gonna say so the first, the first question, the first
2:10
question is from internet Sophie.
2:12
The question, is talk about how Bitcoin helps marginalized
2:16
communities. That's a very good question.
2:18
So, okay. So look, just go back to Fiat
2:23
money, right? Sofia, most most people in lower
2:26
incomes are middle-class incomes, don't have.
2:28
The means to Save and traditional equities or invest
2:32
money in real estate. So what they do is they save
2:34
money in cash, right? When you save money and cash, it
2:37
gets debased by the government every time the government prints
2:39
also known as inflation. So how does it help people in
2:43
marginalized communities? If you know they save in Bitcoin
2:46
it in the short term it might be a little bit volatile but over
2:50
the long term it actually gives them a chance to save for a
2:53
better future, right? Which is something that they
2:55
don't have today. So that's my response.
2:59
Anyways. Like what do you think?
3:01
Do you want me to read you? The question talk about how
3:03
Bitcoin helps marginalized communities?
3:05
Yeah, completely agree with everything.
3:07
You said. I also think that sometimes in
3:10
our world of credit cards and bank accounts, like you need
3:14
money to even get a credit card, right?
3:16
Like, you need something to get started.
3:19
And so the idea that you can literally download an app on
3:21
your phone and then instantly have money that.
3:24
As you said cannot be debased is pretty cool concept.
3:28
No, need to do the whole The kyc.
3:30
No need to have a driver's license.
3:31
I mean, a lot of people especially marginalized
3:33
communities don't even have a good form of ID that they can
3:37
use to open a bank account, or a credit card or anything like
3:39
that. Yep.
3:41
Still hit it, hit it. Phil, what else am I going to
3:45
hit you guys? You guys hit it all.
3:46
I mean, I think that's I think that was absolutely fantastic.
3:49
Look, the only the only other piece that I could that I could
3:52
really add to this is that many marginalized communities, quite
3:56
often end up dealing with situations with remittances So
4:01
Bitcoin can help with that as well as we know, you know,
4:04
there's low fees minimal fees to go and transfer the money and
4:08
making it easier to get that money all the way across the
4:10
world. So, absolutely, next one, it's
4:14
by Spirit Monger interesting name.
4:17
Anyways, the question says, best way to buy and sell Bitcoin
4:22
without kyc as a great question. So as TECO is a good service,
4:28
it's do you buy these little Flyers.
4:29
There's no kyc however what you'll start to notice, right?
4:33
Is that to buy kyc Bitcoin? Usually have to pay a premium,
4:36
right? So it's usually around 5 to 5 to
4:39
10% higher even 15% higher than what you would do if you bought
4:44
it through a normal kyc exchange.
4:46
Do you have, you do have to buy? You do have to buy a little bit
4:49
more expensive. Also, bisque is a very good
4:52
service, it's a full client that you download on your computer.
4:55
It's a peer-to-peer kind of marketplace and then
4:59
localbitcoins. This was, you know, a big
5:01
favorite, but I think that lately they did kyc.
5:04
So and then of course, the traditional peer to peer through
5:07
WhatsApp groups and telegram, which is what they use.
5:11
What they do today in developing countries.
5:14
You hear that Nigeria here that have been as well as you hear
5:16
that and countries all over the world.
5:17
So there's a couple options however it's not as convenient
5:21
as buying through a kyc exchange.
5:23
So you know and again in countries that don't have the
5:27
infrastructure in place the financial infrastructure You
5:31
know, that's your only option is to buy kyc Bitcoin because it
5:35
doesn't exist. There are no other option
5:37
exists. So anyways, Zack, what are your
5:40
thoughts on this? How what is the best way to buy
5:42
and sell Bitcoin without kyc? Yeah, you covered it pretty
5:46
well. I think the only thing I can try
5:48
to add is Bitcoin, ATMs, you can find those, they're probably
5:54
just best thing to do is Google like map of Bitcoin ATMs and try
5:58
to find one in your area. Usually, there's like a limit,
6:01
like, $50 or $100 where you can buy with, just like a phone
6:04
number instead of having to go through a kyc process.
6:07
And if you're using, you know, maybe depending on how you have
6:11
like, a, that's one other conversation.
6:13
I had, I got a phone number. Anonymously, you could, for
6:16
example, buy a prepaid phone or some card or something like
6:19
that, and then you could buy Bitcoin anonymously through the
6:22
ATM. The other way, which isn't
6:24
exactly buying, but I think is right up.
6:26
Your alley is as mining, right? I think that's probably Be the
6:31
one of the best ways of now, the best way to acquire Bitcoin
6:34
anonymously. But, you know, you have to go
6:37
through the whole process of acquiring a minor setting it up
6:40
doing the mining pool stuff. It could be a big process for
6:43
most people, so I would definitely suggest like you said
6:45
as to go bisque ATM, you know, that kind of Route.
6:49
Yeah, the mining without a doubt.
6:51
Is the best way to accumulate, you know, a decent amount of
6:55
Bitcoin without kyc. But you do have to, you know,
6:59
there's a learning curve If you do have to buy the
7:00
infrastructure, etc, etc. Phil, I know we completely, you
7:06
know, took out all the answers but you have anything to add.
7:10
Yeah, there's one last piece to it.
7:11
Okay, if you're in the u.s. if you're in the US and you don't
7:14
want to use bisque and you're a little bit tech-savvy, you could
7:17
always use a VPN and connect up to hottel hottel if you're out
7:21
in Europe. Then you can, you can use huddle
7:23
huddle as well. It's the same thing, it's
7:25
similar to bisque and there's no kyc.
7:28
So, that's arms out. One thing, actually, Really want
7:30
to add because it's important for anyone who's new to bitcoin
7:33
and buying Bitcoins, that okay, YC anonymously is that you don't
7:37
want to mix it with the coins that you're buying linked to
7:41
your kyc. So make sure that you use a
7:44
different wallet if you're doing that.
7:46
So you can keep those funds segmented because if you're
7:48
going to be going and buying kyc coins later, you don't want to
7:52
just throw it into the exact same wallet where you have your
7:55
kyc free coins, get that mixed up.
7:57
You kind of negate the entire purpose.
8:00
A buying kyc free coins? Absolutely.
8:03
Yeah, that so much signal their coin management is so important
8:07
and something that people look over.
8:09
But yeah, get yourself a wallet. There's so many of them that
8:13
have that functionality because the more simplistic ones do not.
8:17
So that's very important as well.
8:19
But anyways Phil it's time for the daily fail.
8:22
Brought to you by Ember app. Check them out.
8:24
Amber dot app. We're all stuck in the corn.
8:27
Why not stack with a nap by actual It coiners, low fees,
8:31
Fair spreads smart automation. The link is down below ammo,
8:36
smart ways that sense. Look, I know yesterday was
8:39
painful. We went through that consensus
8:41
CBD. See white paper.
8:43
All right, so I figured we'd split it up a little bit.
8:45
Take a look at something funny and sad and then we're going to
8:48
move into kind of a continuation of that garbage, right?
8:51
This is a continued attack on bitcoin from the I don't even
8:56
know what to call them. The shit coin Intelligentsia
8:58
Maybe Out of a yeah, I don't know.
9:01
I kind of makes no sense. Anyways, let's dive into this,
9:04
let's take a look at this tweet. Chris black, you know, how I've
9:08
always said that VCS won't use their massive voting power,
9:10
unless the plebs are doing something they don't want.
9:13
Well, it happened with compound Finance, Matic, collateral was
9:17
about to be approved. Then at the last minute, with
9:20
one vote at a 16z was like, nope, and this is what we talked
9:25
about with all of these. Ridiculous, ridiculous shit.
9:28
Coin governance tokens, listen. The the VCS are the ones who
9:31
hold the majority of the votes. They don't, they don't give a
9:34
shit. Go ahead, trade your shit coins,
9:36
it doesn't matter. The point is, is that they can
9:38
do whatever they want, they control this, you're just,
9:42
you're playing in a rigged field.
9:44
Anyways, anyways, before I move to the main part of the fail.
9:48
Do you guys have any comments on this?
9:51
Bro, this is exactly so ridiculous.
9:56
That's my comment. That's my comment and my my Is
10:00
that I don't know what this mattock thing is I'm proud.
10:04
I'm proud of that. Okay, that I don't know what any
10:06
of this means. I just this I'm happy I don't
10:09
know. It's a shit coin built on a shit
10:13
coin that helps people you know get rug pulled with liquidity.
10:17
There you go. Okay, all right, let's dive into
10:20
it. Let's dive into it.
10:22
Here we go, guys. We I think a lot of people saw
10:25
the the flurry, the flurry of bullshit, corporate owned media.
10:29
Dia having to do with xrp, right?
10:33
Ripple is Gonna Come save the day.
10:35
We're going to come Force Bitcoins hand in the we're going
10:38
to make them ESG happy or whatever the hell it is.
10:41
Anyways let's dive into we got tagged by quite a few people
10:44
Nico through a whole bunch of Great Links into the chat.
10:47
Let's go through this. There's even an article to cover
10:50
a sad sad article. Okay, here we go.
10:53
So the first tweet is from dot coin, we have officially entered
10:56
the then they fight you stage, Bitcoin is sound money.
10:59
The more You attack it, the stronger it gets yes and he's
11:03
referencing this Bitcoin magazine.
11:05
Tweet Ripple is launching a five million dollar attack on bitcoin
11:09
based on false environmental claims and this is exactly the
11:12
article. We are going to dive into but
11:14
before we dive into it let's take a look at some other great
11:17
comments from fellow bitcoiners alluding to this.
11:21
Okay, let's this one is actually really interesting Green Space
11:26
Greenpeace. USA environmental working group
11:28
and others will run ads in me. Media Outlets such as the New
11:31
York Times Politico and the Wall Street Journal, highlighting,
11:35
Bitcoins environmental impact and advocating for change.
11:39
The campaign is funded by Ripple.
11:40
Co-founder Chris Larson, who isn't representing the
11:44
cryptocurrency firm in this endeavor, mr.
11:46
Larson said he provided five million dollars.
11:49
So this is interesting. This is interesting that that
11:52
shit coiners are paying to attack Bitcoins mining
11:57
algorithm. It's very, very interesting
11:59
there. Threatened by it, are they
12:00
anyways. All right, let's keep going,
12:02
let's keep going. All right, so here we go.
12:04
This is the tweet from Chris Larson.
12:06
Last year, I published an op-ed calling, for Bitcoin, to
12:08
consider a move away from proof of work to a low energy
12:11
validation method. Today, I'd like to share an
12:14
update on how my thinking has evolved.
12:17
Yes, Chris, let's dive into this.
12:19
Let's first. Take a look who's Chris.
12:21
He is the co-founder and executive chairman of Ripple or
12:26
eggs are P. Anyways, let's dive into this.
12:29
I also want to give a very special shout out to Twitter for
12:32
giving him a blue checkmark, really appreciate it.
12:34
Thank you. Thank you, Twitter.
12:36
Letting everybody know that this is garbage.
12:40
Okay, let's dive into it. Change the code campaign will
12:44
run. I'm sorry.
12:47
I'll do it again. Change the code campaign will
12:50
run ads in the next month. That's right there.
12:53
This is the, this is the total. This is the total Fiat system,
12:56
giving it its all we're gonna run a campaign.
12:59
We're gonna make Bitcoin change its ways.
13:01
We're going to Lobby the corn to do what we say, here we go,
13:05
several climate activists groups, including Greenpeace and
13:07
crypto billionaire. Chris Larson are launching a
13:09
change against the code, not the climates campaign, so clever.
13:14
Anyways designed to pressure the Bitcoin Community, to alter the
13:17
way it orders, transactions, that already consumes as much
13:20
power as sweet. And that's right, we're going to
13:23
put that in right at the beginning.
13:24
We need in your head. Okay?
13:26
That Bitcoins power consumption is evil.
13:29
Going to destroy your life. It doesn't matter that the world
13:32
economic Forum got this completely wrong in 2017.
13:36
Completely wrong about Bitcoins usage.
13:38
Anyways, we're going to continue, here we go, Nico got
13:41
me pissed off with this one. Anyways, The Campaign Will Buy
13:44
ads in leading Publications over the next month, just like the
13:49
shit coiners do no different, right?
13:51
Hire a whole bunch of marketing and she'll your crap.
13:54
Anyways, the campaign has already reached out to a dozen
13:57
key people and corporations It's going to be great to find out
14:00
who becomes completely irrelevant in Bitcoin very soon.
14:04
Some of them involved in Bitcoin and yet pledging environmental,
14:08
social social and governance or ESG compliance.
14:12
Yep. That's right.
14:13
Is again, is according to Michael brune, who is in charge
14:17
of the campaign. We are in this campaign for the
14:20
Long Haul. That's right.
14:21
Because there is no end to Fiat money and what they can throw at
14:25
it. Black Goldman Sachs BlackRock
14:28
PayPal venmo Fidel Lady, there are lots of companies.
14:31
We anticipate will be helpful to this effort and yeah, they don't
14:34
own Bitcoin. They can't do shit.
14:38
Anyways, let's continue within months.
14:41
Aetherium could switch to a different method called proof of
14:44
stake. They said that in 2017 as well.
14:48
So again we're on the five-year timeline there.
14:50
They were going to switch to proof of stake anyways, which is
14:52
projected by some to cut its energy consumption by 99% guys.
14:56
We read this to you yesterday in the consensus CBD.
14:59
See white paper, do you not see how clear the attack is on
15:04
bitcoin if Bitcoin is not a threat?
15:06
Why are they so threatened? Yeah, it's very interesting.
15:09
Anyways, if I was concerned about Bitcoin as a competitor,
15:14
probably Best thing I could do is let it continue on this path.
15:19
This is just an unsustainable path, so just a random comment
15:24
out of nowhere but this is fantastic.
15:26
This is very telling, okay, so you see, he wants to help
15:30
Bitcoin Thrive as the CEO of a shit coin.
15:34
He wants to see Bitcoin. Number one, that's why he wants
15:38
to take care of proof of work, or he really just wants to
15:42
Cripple it like Ripple because that's what Ripple really is.
15:45
It's just centralized garbage where they dumped on their bag
15:47
holders. Anyways guys this was extremely
15:51
extremely ugly. We're going to finish it off
15:53
though. We're going to finish it off
15:54
with a little bit of a historical reminder for
15:56
everyone. Okay?
15:57
Because you see we've gone through this bullshit before and
16:01
people got scared but guess what?
16:03
True Bitcoin actually prevailed. Here's a tweet tweet from Jerry,
16:07
Brito, anyone who believes 50 Miners and exchanges can force a
16:11
change in Bitcoins code needs to read the block size.
16:15
War. Yes you do.
16:17
That is an awesome read. Anyways, we're just going to
16:20
read the highlighted piece because it's really all that
16:22
matters. The campaign believes that about
16:24
50 key miners, crypto exchanges and core developers have the
16:28
power to change Bitcoins code. They failed with be cash.
16:35
Big definitely failed with bsv. I mean that was just a shit Fork
16:38
of a shit Fork. So it really I mean, that's so
16:40
far gone, it didn't even matter, but this has already been tried.
16:44
This has already failed. If we want to go through another
16:46
New York agreement type of scenario.
16:49
If we have to go and unfortunately you know figure
16:52
out who the new Bad actors are in Bitcoin.
16:54
So be it, this will do nothing. Anyways.
16:58
Zack what are your thoughts on this?
17:03
I think it's just a colossal waste of money.
17:06
It's just so stupid. I mean you got he's a
17:09
billionaire this guy and he's done first.
17:12
He's only putting five million towards it which is like a tiny
17:15
amount of money. But also it's obviously, as you
17:19
mentioned, if you know your Bitcoin history, it's not going
17:21
to go anywhere. So what it really is I think is
17:23
just a just a PR campaign to try to associate Bitcoin with
17:29
climate change, which most people are terrified of.
17:32
I think I I think I saw somewhere today, I don't know if
17:35
it was in that Bloomberg article or somewhere else that they're
17:37
trying to claim Bitcoin is going to be responsible for increasing
17:42
the, the temperature by 2 degrees.
17:45
I know if you guys saw that that hairspray did that back in the
17:50
80s. Sorry, Zack, go on, you gotta
17:53
protect those own, you know. But I mean, I think it's just, I
17:57
think it's just clearly PR. I think it's going to probably
18:00
get pretty nasty, you know, I think Some people actually a lot
18:04
of great people in the Bitcoin space have been warning about
18:07
the ESG movement for some time. It seems like, oh, it's benign.
18:11
You know, what's kind of cater to the movement?
18:14
Let's show how it were mining responsibly all that crap.
18:18
You can tell it's all building up to this, right?
18:20
Is trying to lay a foundation for an angle to aggressively go
18:26
after Bitcoin. And so it's beyond clear that
18:29
all the CSG stuff should be completely ridiculed.
18:33
Acted. We're going to get through this.
18:35
I don't know. Could affect the price, you
18:36
know, could affect the regulatory climate.
18:38
I don't know what's going to happen, but I also think that
18:43
these groups see Bitcoin is winning and we're kind of like
18:47
an inflection point in society, right?
18:49
It's clear with everything happening in Ukraine and
18:53
Russia's, you know, selling oil and not four dollars, right?
18:58
For other currencies and other countries looking to do so that
19:02
the u.s. dollar, Our system is as the world Reserve currency is
19:06
failing and Bitcoin is continuing to grow stronger and
19:11
stronger. And there's a limited window to
19:14
try to stop it before truly Unstoppable.
19:17
I think we all think it's probably truly Unstoppable at
19:19
this point, but I think they're just flailing around trying to
19:22
get something to stick and trying to cause as much damage
19:25
as they can. And just, just, I wish just take
19:28
his five million dollars and buy it, some Bitcoin, you know
19:31
exactly what he should do. Yes, you know, when I saw this
19:34
on Twitter and it's not my original thought and I think it
19:37
was hilarious and someone basically said it's like as if
19:40
the Chick-fil-A CEO told McDonald's to stop selling
19:43
hamburgers. Like that's the analogy here,
19:45
right? Clearly there's a social attack
19:48
on bitcoin. There's a legal attack on
19:50
bitcoin, you know, there's also the market attack and it goes
19:54
back to what I've been saying, we're should coins.
19:58
Need the government. They need the state to survive
20:01
and they need to Fudd. Coin to survive as well.
20:04
So these a lot of these shit Corners.
20:06
They don't mind stabbing Bitcoin in the back if it means
20:09
enriching themselves, right? Phil highlighted that yesterday,
20:13
when we, you know, we had one of the cofounders of aetherium.
20:16
Literally, this is not a joke. Literally picturing the world
20:21
economic Forum on why they should use etherium as the
20:24
network to launch their Central Bank, digital currencies, and
20:27
all the capabilities that that's going to allow.
20:29
Like, it is ridiculous. You have an attack in You're up
20:33
which failed. You have an attack in New York,
20:35
which is going to set a precedent right where they're
20:38
trying to ban proof of work and the really fucked up part is
20:42
that they're trying to use the environment.
20:44
But if you look at Exxon and if you look at all these companies,
20:47
they're using Bitcoin so that less methane goes into the
20:52
atmosphere which is actually good for the environment.
20:54
But no, no, you can't look at that.
20:56
That doesn't fit the narrative. This is clearly about control.
20:59
You can't look at it any other way.
21:01
This is about killing Bitcoin. So there.
21:03
Shit, coin succeeds, governments are like let's kill Bitcoin,
21:06
shit coiners or like. Let's go Bitcoin for different
21:08
reasons. So they're their allies in this
21:10
though, right? Because their boat, they both
21:12
win, right? So yeah, I agree with Doc.
21:15
It's definitely going to get really, really, really nasty.
21:19
I'm very bullish on States, like Texas, though.
21:21
I think Texas is going to fight, you know, these
21:23
environmentalists tooth and nail because they're being insincere.
21:27
Like if they were really concerned about helping the
21:30
environment then they then they you know, they want to talk to
21:33
Like I've said a million times Bitcoin.
21:35
It's it. Like a lot of people have this
21:37
weird connotation, right? Which is like, look, they think
21:41
that they're they're Bitcoin just uses all this energy and
21:44
that's not true. Bitcoin uses excess energy, it
21:47
uses bit energy that was already going to waste, so you can't
21:52
have the conversation of like there is that much energy around
21:55
the world to power the whole country of Sweden and that
21:58
energy was going to waste that doesn't matter.
22:01
What matters is that that energy is being used in the first
22:04
place. If it was going to waste even
22:05
those already produced that doesn't matter.
22:08
What matters is that? It's being used period, right?
22:11
So it the whole thing is just and again I don't think, I think
22:15
he knows this but I think what he's trying to do is he's trying
22:18
to rile up enough of the mob to, you know, believe in this, you
22:23
know, narrative that you know, it could become a problem in
22:28
terms of the regulatory situation.
22:31
But I don't think they'll Seed, I just, I don't think they'll
22:34
succeed, and this really highlights the importance of a
22:38
non-democratic money because if this was a democratic money
22:42
already that Regulators would have stepped in and they've
22:45
already they would have changed the code base if you want to
22:48
change the code base with in Bitcoin, it's not about
22:51
convincing a group of bitcoiners.
22:54
It's about convincing the Bitcoin Network, meaning
22:57
everyone that runs an Ode to download your code.
23:01
So if he really wanted To do this.
23:03
He should have just forked off Bitcoin and done exactly that.
23:07
Good luck, trying to convince people to follow you.
23:10
That's what Bitcoin cash already tried to do.
23:13
So no, he's trying to use the traditional through the media,
23:17
through the thing, through the regulator's, through the this.
23:20
But I think Bitcoins immune to that and I think that the worst
23:23
that can happen is, you know, a short-term, you know, price, it
23:27
affects it. But over time can't stop the
23:29
honey badger. But maybe in bias.
23:31
I don't know. Maybe we're all bias.
23:33
Always feel it's time for the daily meme review, brought to
23:36
you, by Citadel 21. It's the best Bitcoin cultural
23:39
zeenat stories, Comics articles by actual bitcoiners.
23:43
Every, every volume has different artwork does the
23:46
artwork for volume tent? It just drop Volume 11 dropped
23:49
as well. I just order it comes in the
23:51
mail soon and they're scarce was only 1000 physical copies made
23:55
per volume so quick. Get your print of Citadel 21
23:59
today before it runs out. All right, everybody first meme.
24:02
Shout Puppy, thanks for sending me this.
24:04
Congratulations to everyone who got a raise this year, 2.1%
24:08
Rings 7.9 percent inflation. I would say that's even more.
24:11
I would say if you're not making more than 15 10 to 15% more than
24:15
you did last year, you're making more money, you're making more
24:19
money and dollars but you're purchasing power is definitely
24:22
the crease. Anyways next one bye uncle
24:24
Rockstar Society. Unpaid open devs, this is a
24:29
great one bro. Shout out to you dude.
24:32
Thanks. Stamp that either way.
24:34
Really appreciate that. Okay, next one.
24:36
Bye. Rothman's, this is dark.
24:38
Okay. Taxation is the price we pay for
24:41
a civilized society. This is this is dark but very,
24:45
very effective, very effective. Okay, moving on to the next one
24:49
by Chris, bit code, only zoom out altcoins Bitcoin very, very
24:54
good. A very effective.
24:56
Very good meme. All right.
24:57
Next one is bike it. Oh, she's coming on the show
25:00
next month. This game will give you an
25:02
adventure. And this game will give you a
25:04
challenge. What about that game when you
25:07
play that game days will blur together.
25:09
Regular meals are think of the Fast Friends will become
25:12
concerned that the whole time. You'll be unsure if you're even
25:15
having fun. Ha ha ha.
25:18
Oh man, that's a good meme. Okay, next one.
25:21
Shout out mr. Robot, thanks for the tag.
25:24
Sorry. Can't hear you over the sound of
25:26
my freedom? Yes.
25:27
Yes. Oh the the original poster is
25:30
wheelss night. Don Tesla test.
25:32
Thanks. Really appreciate it.
25:34
Awesome memes for that. Phil I'm going to give a very
25:37
special score. I'm going to give it a wrench.
25:42
It's not just the wrench. It's a big-ass fucking wrench.
25:47
That is about wrench. Yeah.
25:49
What about you feel? Just looking at it.
25:51
I'm like that's some good grips. All right, so what looks like it
25:53
has good grips. All right, our wrongs right
25:55
there. Sorry, this is the rich in the
25:58
five dollar after dollar. And of course it has to be a
26:03
hardware wallet, manufacturer to point that out.
26:06
Hey, that is a good ad for foundation.
26:09
You see, get a forget a passport or the five dollar Ranch attack.
26:13
Wow. Wow.
26:14
That's a good at. Okay, Phil as bullish.
26:17
What would you give that mean? So our friend Neil Jacobs fellow
26:21
Bitcoin. ER okay from fomo 21.com, sent
26:25
us some shirts and Nico. I'm going to show your shirt as
26:29
my review score. So check this out at the Cyber
26:31
her nightshirt, so I probably too sure, shout out Neal.
26:34
Definitely check out, what is in full mode 21.com?
26:37
It's almost 21.com, awesome, Zach.
26:40
What would you give those memes? I thought that his memes are
26:44
actually pretty excellent. So I'm gonna I got it.
26:47
Show off our new packaging, so I got to give it the new passport,
26:50
batch to packaging. Whoo.
26:55
Yeah, they're okay. We're gonna, we're gonna start
26:57
plugging it pat Zack because I can't, I can't contain myself.
27:00
I'm sorry. Zack.
27:02
When does it release? When does the new passport
27:05
release? We are starting production
27:08
manufacturing, and the next week or two, and so we hope to be
27:11
shipping by mid to late, April, Bush, bullish.
27:16
Yeah, I'm really excited. It.
27:17
I'm going to get, I'm going to get the second one and I got the
27:19
first one to they look. Very nice.
27:21
Is what animal? And I said this, I did in a box.
27:23
I remember, I didn't boxing about a year ago.
27:26
It's one. It's one of the most beautiful
27:28
Hardware. No, it is not.
27:29
It is not one of the most. It is the most beautiful
27:31
Hardware wall ever. Got my hands on the attention to
27:34
detail is very, very, very nice. But anyways, guys, we want to
27:38
know if you agree with our scores, you disagree, let us
27:39
know down in the comment section, comment.
27:41
Comment, comment, comment. And of course, make sure to
27:43
subscribe to our telegram group, like us, some dank dank dank
27:46
Bitcoin memes review. And subscribe to us on
27:48
alternative video platforms because we do talk shit about
27:51
the corporate media like rubble.com, and our personal
27:53
favorite Bitcoin tv.com. They don't censor because
27:55
Bitcoin TV. But anyways Phil it's time for
27:57
the Daily News brought to you by crypto cloaks.com they make the
28:02
best 3D printed Bitcoin merch like the famous 3D printed
28:05
Bitcoin grenade Arts culture opens up you put your favorite
28:09
Hardware wallet in there. You can get also get this in any
28:12
custom color, your heart desires.
28:14
You want to make this orange. You could do that.
28:15
But only on crypto cloaks Come and of course, the famous honey
28:19
badger in a bunch of other really cool 3D printed stuff and
28:22
you can take advantage of the link down below to get 5% off.
28:25
Anything off the store crypto, cloaks.com.
28:27
So I know what, I know what a lot of you guys are thinking,
28:31
oh, microstrategy buys more pit coin, but read between the line
28:36
that's not at all. What happened?
28:38
Michael sailor, pulled a full Degen?
28:40
He's totally become a Bitcoin. ER, he's collateralized his
28:44
Bitcoin. To buy more Bitcoin.
28:48
This is all Degen okay and it's not like oh you know I
28:52
collateralized you know 5K 10K you know like no no he
28:57
collateralized 205 million fucking dollars to buy more
29:01
Bitcoin, full D Jen. Anyways gentlemen do you have
29:04
any thoughts or comments on this my my main thought is that you
29:11
can actually do this. Yeah I know I'm like once you
29:15
And you can no no. I mean, like anyone listening,
29:19
if you have some Bitcoin, you could if you wanted to go to
29:23
like unchain Capital, right? And you could use your Bitcoin
29:27
as collateral and it isn't interest-only loan until the
29:31
last payment after the term and you can actually do this, is it
29:36
recommended? No, I can't believe that.
29:38
This is a this is a legit Bank. This is like a you know like
29:43
FDIC backed dude. It's It's a real deal but it's
29:47
different because unchain Capital right the the limit I
29:51
think is like what the limit the thing for Unchained capital is
29:56
700k, right? This is true mr.
29:59
I mean I don't mean you can do it with 204.
30:01
I just mean like I'm sure some people I can admit to doing this
30:06
before. Yeah.
30:07
Me too I've done it but smaller scale you know.
30:09
And but this is this is something else.
30:12
This guy is a true Bitcoin I think at this point but we're DJ
30:16
and Zach, raise different, right?
30:18
We're bitcoiners. He has Trent remembered.
30:20
So I A lot of people are like, oh my concealers been here for a
30:22
while. No, us plebs were here.
30:24
First, the difference is that he has billions of dollars so he
30:27
could be catch up, you know. But this is the full conversion.
30:31
This is a full conversion Zach. This is the last step where
30:34
you're like this. Don't have any more money.
30:36
Let me collateralize my Bitcoin to buy more Bitcoin but let's
30:40
let's make it clear like for the listeners.
30:42
What? He's actually doing he's
30:44
borrowing money. Any based on his company's
30:48
future Revenue, he's selling the debt to the public market to buy
30:52
the Bitcoin, then he's collateralizing the Bitcoin.
30:56
So by many more victims he sees, this is just fantastic, you
31:01
know, he's he's a lot of lies, everything, he's collateralize,
31:04
everything he's at, you run out of company is like, know, people
31:07
would give him more loans to his company.
31:09
So he's like but I have a lot of Bitcoin.
31:12
Oh man. But listen all seriousness.
31:14
This puts a lot of Sure. Because I think that the buying
31:18
the buying limit on Michael sailor was around 30 K, right?
31:21
So he's literally going, he's more than all in.
31:25
He's like 120 percent in at this point.
31:27
Anyways. Okay so we covered this
31:29
yesterday but I had to cut it out because we ran out of time
31:33
and I thought it would be great. I'm not going to go through the
31:35
whole thing. I don't like reading excuses.
31:39
I would like to thank Phil and I are partly responsible for this
31:42
because we were at least a little episode over the weekend.
31:46
And this is a, you know, ZK snarks, which is you know the
31:50
centralized entity behind the Wasabi wallets coin and they're
31:54
responding to essentially a lot of heat that the community was
31:58
giving them because they started censoring certain transactions
32:02
that were going into the coin joint.
32:04
Not into the Wasabi wallet yet, right?
32:07
But look, I'm going to say what I said yesterday is look.
32:11
I don't even think that response is worthy of a Um it's just your
32:17
blacklisting right, your censoring transactions.
32:20
You know I don't care what your reasoning is.
32:21
This is a battle for Freedom, right?
32:24
At the end of the day, this we have an opportunity to free
32:27
Mankind and what you're seeing from a private company is you're
32:31
seeing that they're insuring their own Survival by getting in
32:34
bed with the government. But in getting in bed with the
32:36
state, that's what they're doing, right?
32:37
And that's a very, very well-written excuse.
32:40
That's my two cents on that. Exact you have any opinions on
32:44
just Wasabi in general, dude? Because I think it's disgusting.
32:48
Yeah, I do. And two of our teammates that
32:51
Foundation are actually Bitcoin Q&A and Lily, markets by Lily
32:55
who are both both done. A lot of Education about coin
32:59
and Samurai vs rossabi. They're they're definitely
33:02
Samurai a supporters and this and so I've been educated a lot
33:05
of move to talk about this as a team as well in the last week or
33:08
so, since all the Wasabi drama has gone down, like, look, I get
33:12
it if there's some new regulation that past or some new
33:15
law, Or something and like the government is going to ZK snacks
33:20
and saying. Hey guys like you are going to
33:22
have thrown them in prison over this because like money
33:24
transmitter laws in the US, for example are really serious.
33:27
Like look what happened to the bit Max guys.
33:29
You know, they had to plea Polly out for like Deca million-dollar
33:34
type you know, deal and could still face jail time.
33:37
So like I get it if there was new regulation, but there's not
33:41
like they are, they are doing this, you know, Wasabi is doing
33:45
this. The are blacklisting starting
33:48
you cxos, which means they're going to be paying some chain
33:51
Analysis company, which means that your coin join fees that
33:55
you're paying to Wasabi or being used to pay some chain Analysis
34:00
company and they're doing it preemptively even though there's
34:03
no actual law or anyone telling them what to do.
34:07
So I think it's totally different.
34:08
If someone is like if they faced like some regulation and law
34:13
enforcement and then they have the option of either You know,
34:16
turning on, you know, this Blacklist or shutting down the
34:18
company, it's a little bit different in my opinion than
34:22
what they're doing, which is completely just manage.
34:25
It's like, I don't even know, it's the whole thing's been kind
34:29
of pathetic and the announcement as well.
34:32
The fact that this I think might be the first blog posts and
34:34
besides that, it was like a tweet, you know, there was no
34:36
formal announcement or explanation, just is really
34:40
disappointing, and I think bad for the Bitcoin privacy space
34:44
and all Eyes to the Samurai and two other, you know, coin or
34:50
Bitcoin privacy Technologies. Like we have page one,
34:53
inactivated on the foundation store on our bdcp a server where
34:58
it's like when you buy a passport from a supported
35:00
wallet, it actually does like a mini coin as part of that family
35:04
active, a blog post coming out, I think this week about that,
35:06
that Q&A wrote up. There's also other, you know,
35:09
new types of movement, implementations, that that are
35:12
out there like join market and other stuff that's being worked
35:15
on. So All I see them.
35:16
I think anyone who would use Mesabi right now, I mean, you're
35:19
basically saying take my money and go use it to pay a chain
35:22
Analysis. Company is a beautiful
35:24
beautifully put and I really appreciate because look, it's a
35:27
lot easier for, you know, two commentators on the internet to
35:31
just be critical of that. But when you have a Bitcoin
35:34
company, I mean we have a Bitcoin cut, it's different,
35:36
okay. Zack makes things we make
35:38
videos. So, you know, I think that
35:42
there's a lot more on the line, you know, to go to to be
35:45
Opinionated on this subject. So I really do appreciate your
35:48
perspective. Phil, what are your thoughts on
35:51
this? So it's been really difficult,
35:54
right? Because I do have, I do have
35:56
friends that are, you know, Wasabi supporters and stuff like
35:58
that. I've heard both sides.
35:59
Unfortunately, the arguments that that I've heard in support,
36:05
in support of Wasabi, really. Leave a lot to be desired to,
36:10
you know, say it nicely. It's just, you know, it's like
36:13
Nico said, I mean like really it, you know it's nicely written
36:15
it is a giant excuse you know, making the excuse that oh all
36:20
privacy is going to be gone in a few years.
36:22
Anyway, I mean, so so does that mean that we should just give up
36:26
like really like that? That sounds like the same type
36:28
of shit that we heard from. I don't remember who it was, but
36:30
like, some guy was like, well, we should just give in to proof
36:32
of stake, and it's like, are you kidding me?
36:35
You joking. Like, we just we just got our
36:37
chance to have freedom money again, and, and we're going to,
36:40
we're going to piss this all away because of it's so much
36:43
easier and now they're they're yelling.
36:45
So loud they're putting so many regulations in place.
36:47
So look I you know what's no this is this is wrong, I really
36:51
do feel Fortunately that Wasabi took the wrong side of this.
36:56
I understand from a business perspective, they thought they
36:58
were getting ahead of something, but I think that they may have
37:02
misunderstood the risk that they took.
37:04
Yeah my yeah. I also just want to add that we
37:09
are getting much closer to better Bitcoin privacy like if
37:13
every Merchant was using BT, C pi server which is not
37:18
far-fetched. You know, to see much more to
37:19
option and you enable pay join We have somewhat blue islets,
37:23
supported Sparrow, supports it, I'm sure more wallets.
37:26
You know, will support it. Then all of a sudden when you're
37:28
going to buy something from like a store with Bitcoin, you know,
37:32
you're doing a little coin Joe and you can't tell like, how
37:34
much money the person spending or like, who, if you're, who's
37:37
sending to him? Like you that give you some
37:39
privacy paint, hymns and payment codes that are associated with
37:42
that, you know, we're you know BTK which is squares like
37:47
project to do Bitcoin development kit to make it
37:49
easier to build out Bitcoin wallets.
37:51
They just had a A pull request for payment codes to be added so
37:55
that you'll be able to, you know, more easily send to
37:58
basically you could you could send to someone's code over and
38:01
over and over again, but it sends to a new address each time
38:03
to preserve privacy. There's obviously different coin
38:06
stuff being worked on like there's so many oh and then also
38:09
whole mining. Right.
38:10
I mean like if you look at like Jack dorsey's block like they
38:14
are. They've said they're trying to
38:15
go out and build like a home minor and so if more people are
38:18
getting into home mining then you have privacy there.
38:21
So I think it's ridiculous to A that like Bitcoin privacy like
38:25
the idea of Bitcoin privacy is dead because I think it's the
38:28
opposite and just really sad that that's one of the excuses
38:32
for for this action. Yeah, my man spot on and the
38:37
fact that it's coming from, you know, again a hardware wallet
38:40
manufacturer makes that even more powerful.
38:43
So moving on to the meat and gravy, check this out, ladies
38:47
and gentlemen, here is, but before I get to that, oh, I got
38:50
a little bit ahead of myself before.
38:52
I get to that, here is the passport batch to very, very
38:56
poor. Like I said, right?
38:57
Very, very pretty Hardware wallet.
39:00
So this is a batch to write this is, you know, there's batch one
39:02
which the founders addition I got that one.
39:05
Dispatch to its 199 comes out soon.
39:08
Like Zach explained, I'm going to go through some of the
39:10
features and I'm going to ask Zach some questions.
39:13
So so key specs supported cryptocurrencies obviously
39:17
Bitcoin, the PS BTS. What do you mean by
39:21
best-in-class? Sig experience for sure.
39:25
So I think most Hardware while it's today are not designed well
39:30
for multisig and I'll just give you like I think one good
39:34
example that is one my favorite passport features.
39:37
Like if you have a multisig, let's say 2 of 3, it means that,
39:41
you know, you want to send Bitcoin, you have to go to each
39:44
of your keys, each of your hard wallets or devices or mobile
39:49
wallets decide the transaction. But like let's say you want to
39:52
Receive a transaction, you know, you you you use like maybe your
39:56
the wallet on your phone or on your computer to show a new
39:59
receiver dress. A lot of people just stop there.
40:02
Most people don't realize, like how do you know that that wallet
40:05
isn't compromised and that that receive address belongs to your
40:08
multisig? It's like what we do with
40:10
passport, for example is passport.
40:12
Makes it super easy to import those details of the multisig
40:15
configuration for you. And actually, every time you go
40:17
to Pere passport with the new software wallet, it takes you
40:21
through like a little flow where Asks you to do things.
40:23
It kind of walks you through it. So basically you can scan just
40:28
with passport, we have a feature called verify address.
40:30
You just scan with the camera on the device, the QR code of your
40:33
address and passport says, like, yes, this belongs to your
40:36
multisig, you know, con fig. And so you kind of have these
40:39
checks that are done to make sure that you're actually
40:42
benefiting from the security. They're not opening yourself up
40:45
to, you know, potential attack vectors or anything like that.
40:48
It's really hard to do that if you don't have a Hardware will
40:52
call it that can you know, support importing, multi-city
40:56
configurations, and the camera helps so much to be able to
40:58
scan, like the QR code and know that as your dress.
41:01
All right man, I love that because you know, one of the
41:04
thing and again you know, because a lot of people don't
41:06
understand when. When you're thinking about your
41:09
Bitcoin set up, it's all trade-offs, right?
41:12
And if you increase the technicality of your setup,
41:15
right, whether you're using multisig, one of the downsides.
41:19
Exactly what Zack said is that if you use one of the One of the
41:23
hardware wallets as a signing device, there's really no way to
41:27
verify the address so there you could mitigate it, right?
41:30
You could, you could restore it on your phone, you could restore
41:33
it on on, you know, on your computer.
41:36
So you could compare and contrast the likelihood that it
41:38
is your address it. If it says it on two devices is
41:41
pretty high. But you know, the gold standard
41:45
is to have that confirmation on the hardware device because at
41:48
the end of the day the hardware devices like that's the last
41:51
stop. That's the You know, that is it
41:54
since it's are graphed you're not really trust, you know.
41:56
It's it's it's the best, that's what you should be doing.
42:00
But with multisig it complicates that with single Sig.
42:03
It's pretty easy, right? So I really like that, that's
42:05
really cool that you guys thought about that.
42:07
So anyways, moving on to supported wallets.
42:10
You have Bitcoin core. Obviously we wallet PTC pay
42:15
Casa. Oh that's awesome.
42:16
I'm a big fan of Casa. Electrum should be out soon.
42:20
Sweet shout-out Lop nunchuck. Oh, these are the guys that
42:23
responded to the Canadian government.
42:25
How long until they had to Klaus visits them.
42:28
Okay, simple, Bitcoin, wallet, Sparrow, Spector Wasabi?
42:33
Oh Zach, what is this Trader? No, I'm just kidding.
42:38
No, I know everyone uses. Look the wallet so far isn't
42:42
blacklisting let's see how long they say?
42:44
How long that stays. So did you update the secure
42:47
element? First of all people don't, what
42:49
is a secure element? Why is it important on our
42:52
Hardware? Wallet.
42:54
So we use like what we call like a dual chip security
42:58
architecture in order to store the private key.
43:01
Not you know, unique to US Cold card.
43:04
Does it and big box? Does it as well?
43:07
Where we have a secure element that stores?
43:08
Something like portion of the key basically on there and
43:12
special kind of chip that's designed to be resistant to like
43:15
physical attacks where the only way to try to extract
43:18
information out of it is to like take it to a lab with like
43:20
hundreds of thousands of dollars of equipment.
43:22
The chip off the board try to like hit with lasers and stuff
43:26
and sometimes you can be successful.
43:28
You know what, just happened in the past, but it means that it
43:30
takes like a like a extremely Advanced targeted attack to try
43:35
to extract what's on there. We also store some of the key in
43:39
the main processor on the device.
43:40
And so when you go and use past for you enter your PIN in it
43:42
kind of combines those pieces of information together you know
43:45
when it's turned on and unlocked and then you have your seat on
43:48
there and then when you shut it off, you know, loses that and
43:50
see if them to your PIN every time.
43:52
So So if your wallet harder, well, it does not have a secure
43:54
element like a treasure. For example, what that means is
43:57
that it's still like resistant to, you know, attacks like a
44:01
remote attacker, you know, if someone was like trying to get
44:04
you from like compromise software or something.
44:07
But if someone gets physical access to your heart of all, it
44:10
means that you can just like pull off those keys and 15
44:13
minutes with like 100 bucks worth of Hardware.
44:16
So it's not necessarily like a bad thing.
44:20
I mean every Hardware wallet has its own Security model and I
44:23
think as long as like you're honest about the trade-offs, you
44:25
know then it's okay. But we like this architecture
44:30
and we think it does a good job because you'd have to be like
44:32
really targeted with an expensive expert-level attack to
44:36
try to, you know, extract your keys from the device.
44:39
Yeah. And it like I think, you know,
44:41
especially if you use multisig, it starts to become economically
44:44
unfeasible. I think nvk that posted a blog
44:48
post with the laser and I think he claimed it was like half a
44:51
million dollars. To it was like two hundred plus
44:54
thousand dollars, you know. But keep in mind to like with
44:57
that kind of attack, which Ledger did they against?
45:00
The previous gen ship. That was in cold car which was
45:03
like the microchip. 508 a you have to like literally take the
45:07
chip off the circuit board, you got to break apart.
45:09
The device, you got to extract the chip.
45:11
You got to grind off the top layer of the Chip.
45:15
And this thing is Tiny. It's like a millimeter by like a
45:17
millimeter big and then you got to hit it with all the lasers
45:20
and everything. And so the chances that Might
45:22
damage that chip are really high, so it's one thing to do it
45:26
like in a lab. When you have like 100 chips
45:28
available to you and you can kind of cycle through them and
45:30
say we compromised, it's another thing when it's like real world
45:34
where know, if, you know, you would know that your multi pens
45:38
if you have your Hardware wallet, in a place where you're
45:40
like where you check on it. The thing would have to be gone
45:43
for a period of time, you know. And they have to literally rip
45:47
the stuff out of it and have physical possession of it for
45:50
some period of time to do that kind of thing.
45:52
I think you'd be able to tell if you got lasered for sure.
45:56
Alright movie, I feel you got all giddy, do you want to add to
45:58
that? Because it feels the Tinker
46:00
that's it. If you see his desk, there's a
46:03
bunch of Tinker shit. Well, I'm no.
46:06
So, you know, it was really, it was just thinking.
46:08
No anecdotal comment, but yeah, exactly.
46:10
Like you, I want people when people talk about attack
46:13
vectors, right? Like I first of all, I love how
46:14
objective, you know, you're being in that you explained
46:16
exactly this, right? Be honest, with the trade-offs,
46:19
right? Like there's a certain amount of
46:20
personal preference and of Course, you have to be honest
46:23
with yourself about the trade-offs, but it's just also
46:26
really interesting because the person that has this knowledge,
46:30
right? Like you have to think to
46:31
yourself somebody, this sophisticated that is spending
46:33
this amount of money. Do you really think that they're
46:36
coming after, you know, that they're coming after you
46:38
personally? Like, it's just, I'm just
46:41
saying, like a lot of times it's usually a slim to no chance, you
46:46
know, that that's actually happening in this case.
46:49
But like the, I'd say that the like Likelihood of somebody
46:53
having this capability and that you're going to run into them
46:56
and that they're going to steal your shit.
46:57
I just think is really slim to none.
47:00
I agree. It doesn't mean that you
47:02
shouldn't be secure i-it's. All I'm saying, right?
47:04
Thank you. Doesn't mean you shouldn't be
47:05
secure but it is good to be objective about it.
47:07
You hear that? Don't leave your Hardware wallet
47:09
next to fill because he's got lasers.
47:11
Anyways, moving on. So Zack, you know, in the, in
47:15
the design of this, I thought this really interesting, you
47:18
decided to put no USB data obviously.
47:22
I don't know what the fuck Ledger was thinking with the
47:24
Bluetooth. Like yet that, you know, that
47:26
was a terrible idea but, you know, to each their own, I
47:29
guess. So kind of, you know, elaborate
47:31
a little bit more on your design decisions in terms of using
47:35
camera and micro USD only and not using any USB data because,
47:40
you know, I know cold card uses it.
47:42
I know, treasure Ledger. They all use USB data.
47:46
Why did you not want to do that? For sure?
47:48
And so passed away. More importantly, give more
47:50
contact, I'm sorry. Did some Ooh.
47:52
Okay so if you don't you, if you don't collect your Hardware
47:54
wallet to your computer, how do you sign the transactions that
47:57
are you? Yeah, so for sure.
47:59
So, a couple things one is passport as air-gapped, right?
48:02
Which means that is that me a wireless do Wireless
48:05
Communications of any kind? No, USB interface or anything.
48:11
You can plug into where in order to pull data off the device.
48:13
The only way that the passport can communicate is either with
48:16
micro SD card which we provide you know when you buy one and
48:20
there's a report on top or with Camera, which is the best way,
48:24
you know, Cameron QR codes. And so in order to do a
48:26
transaction, you know, you basically do a qr-code exchange
48:29
back and forth from your wallet, your software wallet, which
48:32
could be on your phone or can be on your computer and then the
48:36
screen on your passport. So we actually made a there's a
48:40
there's a couple differences with passport batch to versus
48:43
the original. Founders addition.
48:45
It's like the original, Founders addition as these AAA batteries,
48:48
you know, but we didn't like that because they're just
48:52
Opposable they'd run out after like you know some number of
48:55
hours of continuous use but they've run out and it only
48:59
works well with lithium batteries.
49:00
And so you gotta like, go pay extra for those.
49:02
So we're using like a standard form factor battery now with
49:05
passport batch to it's a lithium ion, but it's a Nokia BL 5 ski
49:10
form factor. So, like you're not dependent on
49:11
us. You can go to like any store
49:13
that sells these batteries. Any electronics store, Amazon,
49:16
whatever you could buy one obviously won't have our nice
49:19
logo on it. Once a power cell, you know, by
49:22
Invited you can stall, you know you're not dependent on us,
49:25
right? And then we actually include now
49:27
a USBC port on the bottom of passport batch juice so that you
49:31
can charge but it's a special type of Port.
49:34
That's a power only ports. You actually look at it and see
49:36
that it only has a couple pins on.
49:38
It doesn't have all those pins that you'd seen a normal USB
49:41
port. So you can be assured that like
49:42
I can visually inspect this in like half a second.
49:45
It only can communicate power or there's no way can do data or
49:49
anything like that. And the other thing we didn't to
49:52
with Batch to to make it easier to use especially like, with
49:54
computers for their webcams can be kind of crappy.
49:57
As you have like a brighter higher quality color IPS
50:00
display, that's laminated to a glass.
50:04
So it's like way brighter. Wait crisper of screen works
50:08
much better. Just obviously, like, with the
50:10
phone camera back and forth scans, but it works really well.
50:13
Now, to be like a laptop camera. So we did, you know, bunch of
50:17
those improvements to try to think about, like, yes, it's air
50:19
gap but like we want to put a rechargeable battery.
50:22
You want to put a crisp screen in there, you know, all that
50:24
kind of stuff and all that is in batch to awesome very very
50:28
exciting. Zack I want to move on.
50:30
This is really interesting correct me if I'm wrong I don't
50:34
think look. So guys I've been educating
50:37
people on bitcoin for six years. Getting them to Cold Storage is
50:41
one of the most difficult yeah jumps right look download
50:46
Bitcoin wallet, buy Bitcoin, easy getting into Cold.
50:50
Storage becomes complex. Lex.
50:53
So, I love that you guys are doing this.
50:55
Could you talk a little bit about concierge setup?
50:58
It's cheap, it's only a hundred bucks.
51:00
How does it work? Etc.
51:01
Etc. For sure.
51:03
Yes. So this is, this is buy Bitcoin,
51:05
QA who's like a legend in the space and he you know, decide to
51:10
join our team some months ago as her head of support and he's
51:13
taken over all our documentation, on our support
51:16
material tutorials. It's like the saying honor that,
51:18
you know, he decided to join us and we were talking and he said,
51:21
you know, a wine Why don't we do these one-on-one sessions?
51:24
Like I'll run them so that we can because he already does
51:27
that, you know, separately with either friends, family members
51:31
or people who come to him on Twitter.
51:33
And we thought it'd be really cool because like you said it's
51:37
really hard to take the leap into self custody using a
51:41
hardware wallet. Can we just scary even though we
51:44
with passport, I think make it like much easier than using any
51:47
other Hardware wallet. It's still like just that leap,
51:49
you know, that psychologically for like what if I have a And
51:52
who do I ask? So, you know, hundred bucks.
51:54
We're not doing this to make a profit off of it.
51:57
Obviously we're doing it just to kind of lower the barrier to
52:01
buying a passport and getting into Bitcoin self custody.
52:04
You get to have a session with Q&A for an hour.
52:08
So I mean, I would pay 100 bucks to talk to him for an hour
52:11
anyway, you know, and he can help you set up passport with
52:15
our new software while it called Envoy, which I'm sure we'll talk
52:18
about in a second or with any wallet of your choice because he
52:22
Really knows how to use every single Bitcoin wallet.
52:26
And so that's that's concierge set up very, very cool.
52:29
Yeah. I think this need, I don't think
52:30
anyone else is doing that. Which is kind of, you know,
52:32
obvious in hindsight, right? Which is that is one of the most
52:36
difficult parts, right? Onboarding people.
52:39
So I suspect, this is part of making it making it easier for
52:44
people, the whole experience. What is Envoy are you?
52:48
So, I know it says it's going to be available on IOS and Android
52:51
soon. Soon.
52:52
Are you thinking of making a desktop version eventually?
52:56
Probably, eventually, I got it. I got on my phone here, you
52:59
know? I it's so, it'll be released
53:01
some alongside passport batch to hopefully next month Envoy is
53:08
our mobile companion app for past before.
53:11
So that's how it's starting. It's not a standalone software
53:13
with that. You can use without passport
53:16
specifically a watch only software wallet single Sig that
53:20
you connect to your passport. It's like, we didn't have a path
53:24
for new users like new bitcoiners to lock them through
53:27
like unboxing, you know, your passport to being set up.
53:31
So we sent them to Blue wallet which is a great wallet, right?
53:34
I use it for a lot of things, but for totally someone is like,
53:37
totally new to bitcoin, like a friend family member.
53:40
You're like, here's a, you know, here's here's passport.
53:43
Like, here's this box. Like go get yourself, set up its
53:46
hard and so we want to have like the most simple like Zen like
53:50
Bitcoin wallet with know, No features right to start at
53:53
least, then we'll Build It Up over time, you know?
53:56
And so, it literally only it. You connect your passport to it.
53:59
It's like one, click. As you're doing the setup, even
54:02
if you don't want to use envoys a wallet.
54:04
It walks. You through the unboxing supply
54:06
chain, verification, firmware update.
54:08
We're actually giving you now like MicroSD adapters in the Box
54:12
USBC and lightning for your iPhone or Android phone.
54:15
So you can do the firmware update right from your phone
54:17
with of the entire setup process, right?
54:19
From your phone, support everything in apps.
54:22
Are really excited about that. But then at the end of the set
54:25
up, you can say, you know, I want to use Envoy as software
54:28
while and you just get an account, you know, with Envoy,
54:31
you can receive Bitcoin, you can send Bitcoin, that's it.
54:35
There's only one option which is to if you want to bump or we
54:40
call Boost the transaction fee. For hire are free.
54:42
So don't we don't have like three different levels of fees.
54:45
We don't have like enter a custom face just like standard
54:49
or pay a little bit more. Click this button done.
54:52
And we do some cool privacy stuff by default.
54:54
I we connect over tour. Okay, okay, okay, yeah, okay.
54:58
That's a nasty because the Ledger is one of these.
55:01
Okay, so Zach give a little bit of context you have to give
55:04
called. Yeah.
55:04
Well, so when you run, when you download a software while it on
55:08
your phone, you're trusting someone else's know.
55:10
That means your, your doxing, your Pub files, your dachshund
55:14
your IP. So anyways I gave the context.
55:17
Zach could take the I think that's good context.
55:19
I think it's like you download a Bitcoin wallet, you don't?
55:22
Is that almost that wallet is either a connecting over tour,
55:25
which helps a lot like Samurai. Does it by default, right?
55:29
Or be allowing you to connect to your own node, the companies
55:34
that the wallet that you're using, that company is running
55:37
its own Bitcoin node or nodes. It's running its own servers.
55:41
It's able to know your IP address.
55:43
It's able to potentially use that to find in your geographic
55:47
location, Mike, I know you might be able to easily find your name
55:50
and up their identity info. And then it also is able to see
55:55
all the transactions Funk but the node and Associate them with
55:57
you. That is a huge privacy concern
56:00
and unfortunately most Bitcoin software wallets.
56:02
Do not connect to Tor by default.
56:04
Some of them have it as an option which is awesome.
56:06
Like a someone who's like new to bitcoin downloading the app.
56:09
You want that privacy by default.
56:11
And so you know, we do Tour by default to our, you know,
56:13
company electrum server. But then we also have the
56:16
ability to connect your own node and so it's a weird set of
56:20
choices because of the one hand. It's like a Spurs, an experience
56:23
with, like, none of the advanced features that you would find in
56:25
like a samurai or anything like that.
56:27
On the other hand, it's Tour by default and you can kind of see
56:30
how like we're trying to be the Super's, then nicely designed
56:35
easy to use. But all about giving you that
56:39
Baseline level of privacy, by default over time, we definitely
56:43
will make Envoy into a standalone wallet as well, but
56:48
we're pretty focused on just providing like the best
56:51
experience with your Passport. For now knowing that some
56:53
percent of our users will use it and like as a wallet and many
56:57
won't they'll choose to use like something else like Sparrow or
57:01
blue wallet or, you know, Spectre Samurai.
57:05
But they'll use it for like firmware updates and setting up
57:08
passport, which is a huge one. Very, very very, very cool.
57:12
Anyways, awesome. Thanks for that Zach.
57:14
Phil there was an open source off early today, wanting to
57:17
everybody about it software releases, brought to you by
57:20
Cipher safe. Check them outside.
57:22
For safe dot IO, you've got a store your seed, why not store
57:26
your seed in the best possible place in the Cipher wheel or the
57:30
all new Cipher grid? They both come with a
57:32
tamper-resistant wire but the grid comes with a punch tool.
57:36
All right? We've got join Market version
57:38
0.9.5, that was released its Down Below in the show notes,
57:43
guys. Don't forget we drop all of our
57:46
episodes on audio only platforms as well.
57:49
Don't forget to check us out. Apple podcasts Spotify and
57:53
anchor, and if you want a stream of some SATs Fountain dot f m--.
57:57
Awesome. Thank you, Phil.
57:58
Alright, guys, that was our show before we go.
58:00
Phil, we have to give a very special shout-out to our
58:02
awesome. Hoodie.
58:03
Sponsor, rep hard, represent LTD.com.
58:06
You can take advantage of a link down below to get 10% off.
58:08
Anything on the store fills modeling.
58:10
It's crazy rep. Hard.com, I also want to give a
58:13
very special shout-out to our awesome guest.
58:16
The legendary Zach Herbert, he is the co-founder and CEO of
58:20
foundation device. Like he said, passport to drops
58:25
very, very soon. You can check out Foundation
58:27
devices.com. Anyways guys, that was our show.
58:30
You enjoyed the show, you know, what do you smack him?
58:33
That's you want to continue here in the bitcoin news.
58:34
From the bleep left perspective, in the catastrophic, bales from
58:38
the shit coiners and the central bankers and governments that
58:40
would consider subscribing to Simply Bitcoin.
58:42
And we'll see you tomorrow guys for any episode.
58:44
Unfortunately, there's a Bitcoin soy for coming.
58:47
So be careful and beware.