Latest / Simply Bitcoin / The State Does NOT Want You To Hold YOUR Money | EP 437

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The State Does NOT Want You To Hold YOUR Money | EP 437 · Simply Bitcoin

0:00
I don't believe since we shall never never good money against
0:04
before we take something out of the hands 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 Hardware releases, and the websites by
0:17
pledge joining us today. Fellow pleb mean Lord
0:21
reincarnated 20 times. That's right, we've got labra
0:25
huddle joining us, but first, we're diving into the numbers.
0:29
Let's do it. Not brought to you by Bitcoin
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Bitcoin conference ever hosted in sunny, sunny, Miami, Beach,
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At the time of this recording. The block height is 720. 4513.
1:00
Bitcoin, price 37,000, 930 chain rewrite days 684, total public
1:06
lightning capacity, 3460 927, Moscow, time, 2636 blocks to The
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Happening, 115 thousand four hundred eighty seven and the
1:18
samurai unspent capacity, the samurai Whirlpool, unspent
1:23
capacity is 4330 9.13. And for the people who don't
1:27
know what this Samurai Whirlpool is, that is A coin join or
1:31
collaborative spend service Nico, the numbers, the numbers
1:35
from the numbers. And I just want to give a very
1:38
special shout out because we always talk the Big Talk.
1:41
Phil, we're always say Bitcoin is all-inclusive and we really
1:44
do mean that for the first time and Bitcoins history.
1:48
I mean, this is the second time because he did come on with the
1:51
mean Lords, right? We do have a labrador on the
1:55
show. Yeah, pretty crazy.
1:57
This is true. Yep, that's true.
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Everyone needs. Yep.
2:01
Bitcoin is for everybody even if your dog.
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Yeah, this is with laser eyes with laser eyes and out of jail.
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Anyways. So I have some very interesting
2:15
thing today to talk about during the number segment.
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Phil actually sent this to me, let me pull it up, let's check
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it out. We're actually going to cover
2:23
this in the meme review, but then we realized wait a second.
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This is a lot more interesting. Let me click on it.
2:29
Let me pull it up. So this is Bitcoin and the rice
2:33
rise of rice, the rise of cypherpunks.
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Okay, so essentially what this is is a list or the events that
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led up to bitcoin because everyone knows right?
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I mean most people know, I mean if you're if you're a crazy
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Bitcoin or you know that Bitcoin launched January 3rd 2009 but
2:53
there was a lot of background stuff that happened before then
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right. And I think this is a really
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good graph. That, you know links it and puts
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it on a timeline. As you can see, right?
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It's really started right? The events the Domino effects or
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Domino, the first Domino fell or according to this chart fell in
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1974. That's when Cerf and Kahn and
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vented the TCP IP. Phil I know you know what that
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is, could you explain that transmission control protocol
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the Internet Protocol and what that is essentially is the
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language of the internet, right? That is the Base language of the
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internet than in its simplest form.
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Awesome. Thank you.
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And for your, here's the start of Crypt, I've been cryptography
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is a lot older than this but I'm sure that I'm sure what they
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mean is the cryptography that was useful for Bitcoin that
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started in 1976 the RSA public key cryptosystems.
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That's the public April, that's the public key crypto key thing,
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then it's a real full Ralph Merkle protocol for public key.
4:00
There's David Cham untraceable. Electronic mail, 1981.
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Here is the the Byzantine generals problem 1982 and this
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is essentially how do you how does every how in the
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distributed system? How does everyone keep to?
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How does everyone's have the same truth?
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Fill that I butchered that completely, I don't think so.
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I'm like, I'm too, I'm totally sucked in, this is pretty cool.
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The business, in general, is problem, is something that
4:26
Bitcoin self through proof of work, right?
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And through everyone kind of Running a node.
4:31
So it's something that the Bitcoin, the Bitcoin Network
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solved, right? That was essentially discovered
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or invented, I don't know 1982, I'm sure people that are more
4:40
technical or having heart attacks right now Leroy, and I'm
4:43
watching you. Anyways, here's a licked of
4:45
curve cryptography. 1985 Timothy made their crypto and anarchists
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Manifesto 1988, David Cham Digi, kasseri cash, 1989 1998, Cham
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Fiat and nor untraceable. Trying to catch 1990, Phil
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Zimmerman pretty good, privacy, 1991, High Bursar Neta, how to
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timestamp, a digital document. 1991 proof of work that's crazy.
5:12
Proof-of-work, pricing via processing or combating, junk
5:15
mail 1992. So after Frank's founded by
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humans, May and Gilmore 1992, improving the efficiency and
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reliability of digital time. Stamping, 1993, Eric use a
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cyberpunks. Manifesto in 1993, Cyber cash
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1994 to 2001 and a say, how to make a mint. 1996 e-gold 1996 to
5:35
2008, Adam back. Shout out of back hashcash
5:38
proof-of-work. 1997. That was actually quoted or
5:43
reference in the white paper. Nick Szabo, smart contracts,
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1997. Timestamp database 1997, Nick
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Szabo before cold. Yeah.
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Go ahead Labrador. You good.
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Yeah, for Nick. So there's there's a good read
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the gods protocol. I don't know if you guys read
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it, guys, on actually I've not It's very interesting.
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I'll pop it up the picture, it's called The Gods protocol, God's
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protocol. I totally recommend it guys Swan
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also did an audible for that ones.
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I recommend it very, very cool. God's protocol.
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So Massey has a villa Quinn, squat, our time stamping
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service. With minimal trust 1999.
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Bram Cohen, BitTorrent 2001. Adam back, hashcash a denial
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service, countermeasure, 2002. I'm not going to tour project.
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2002 how Finney reusable. Proof of work 2004 Julian
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Assange. 2006 Lehman bankruptcy 2008.
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It's a kit Satoshi Nakamoto. October 31st 2008 to Toshi
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Nakamoto Bitcoin, launched January 30 2009.
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So all of these things had to be built on top of each other,
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right? One thing led to another that
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finally led to the discovery of Bitcoin but so she had to take
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advantage of all these prior discoveries or inventions
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depending on how you look at it. For Bitcoin to even exist.
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So shout out to all those people.
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I'm sorry. I butchered consider Nico.
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Can't read you guys know. The drill is already butchered
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all the pronunciation but shout out to all those Legends because
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if those Legends didn't invent or discover what they discovered
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Bitcoin wouldn't exist. So there's a lot of back rubs
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story and it started in 1976 the whole process.
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If you believe that graph, absolutely Bonkers.
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Phil what do you, what are your thoughts?
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We can see from that graph. That Bitcoin was inevitable.
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That's what we can see from that graph.
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I mean, look, I thought that was really cool.
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I think it's a trip through history.
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I did read the Timothy maze. The what is it?
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The cypherpunk manifesto, I love stuff like that.
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I find stuff like that. Super interesting.
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And you know, to me it's not, you know, like I get a lot of
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people very fascinated with the code and you know, what Bitcoin
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does. But to me one of the aspects of
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Bitcoin is the philosophy that that created bitcoin and I think
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that that's really I think it's cool stuff.
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I agree lavro. What?
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What are your thoughts it dog? Oh, it's yeah, it's it's
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amazing. What has been built since the
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internet and everything that it's built?
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On top. It's just mind-blowing, right?
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If you think about it, like, it's only a very short period of
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time and all that we have achieved as as humans just
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building each other building things for everybody.
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So it's awesome. But you're not human.
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I know, but the internet is for everybody.
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Nobody knows who my daughter. Ha ha ha.
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This is true. But yeah no dude and I love when
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you because again like you it's very hard to visualize these
8:44
things if you just like kind of name on the list but the fact
8:47
that they were put on a grass on a time on a timeline really
8:51
helps you visualize it and appreciate it.
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I think in a different way it was color coded as well, right?
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So that was really cool. And yeah, I mean, I'm sorry.
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Go ahead labra, No, I was going to say like if you think about
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it like the way that we are communicating right now
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recording this put it on YouTube and so everybody else can see
9:10
it. Those are just basically 0 sin,
9:13
1 traveling through space and time, right.
9:17
It's just crazy. It's absolutely nuts, dude
9:20
crazy. That's exactly right.
9:21
Yeah. No, I just wanted to just wanted
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to draw attention to the fact that you know one of the one of
9:26
the statements that bitcoiners like to say that we like to say
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is that Bitcoin is you know the TCP IP Money and you know as we
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were looking at that chart that was the first that was the
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beginning of it, right? The TCP IP protocol.
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And when you go to networking school that's one of the you
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know, one of the one of the topics that you have to master
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or at least learn very well. And what people don't understand
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is is that Bitcoin as that protocol everything that we are
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doing right now is based on that protocol at its core that
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protocol at its core is carrying everything that we're doing
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right now. Okay, in terms of communication.
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So when you think about Bitcoin is the TCP IP protocol, That I
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don't know to me that, that kind of makes me bullish and it kind
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of makes me excited for the fact that we don't know fully what we
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can build on it, right? Because when TCP IP was
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developed, did they really Envision?
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What would come in this sense? Maybe they did.
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I don't know. But personally, when I was a kid
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using a computer, I definitely did not have the foresight to
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see where we'd be today with this.
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No, there's no fucking way, dude, there's no way there when
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I was growing up. It was, it was Facebook like but
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like version one Facebook, right?
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Banner and the, you know, like, for we've discovered, they were
10:42
evil, right? And yeah.
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It could you imagine, you know, Ten Years Later?
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You'd be, you know, video chatting with people hundreds of
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miles away from each other instantaneously, right?
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And it goes back to what lava was saying before we started
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recording right? Which is, you know, in some
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places, right? You go to the cash register
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still and you know if there's an old person working there so
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they're still punching in numbers like analog, right?
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So Oh, it just it just these sites.
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I think the internet really highlights how far we've come as
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as a species. And I think that a Bitcoin plays
11:16
a major role to take us to the next level because how the
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internet allows us to Talk, Amongst each other
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instantaneously right now Bitcoin, solved how to transfer
11:28
value instantaneous or not. I mean, basically
11:31
instantaneously the settlement takes around 10 minutes give or
11:34
take if it's lightning you know, also takes it's pretty Quick
11:38
right. But let's say the settlement is
11:39
around 10 minutes average, right?
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But you're getting that into, you'll see that you received it
11:44
instantaneously, there's no borders, right, it's quick,
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right? So it, you know, it really
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changes everything. And I think, I think all, I
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think going through a graph like that.
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Just highlights all the fucking steps that needed to happen
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before that. Yeah, absolutely crazy.
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But anyways, Phil it's time for the daily fail.
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sets. You know, sometimes sometimes
12:19
magic just happens in Twitter, and sometimes we capture this
12:25
magic. Definitely want to give a
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shout-out to psi or icoc, not for tagging me in this.
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Check this out. Okay, this was a response.
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This is actually a retweet to a tweet that Nico showed yesterday
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from this DHA. Account that was against Bitcoin
12:40
and is now for quote unquote crypto, okay?
12:43
So here's Giacomo's response, you're still wrong, Bitcoin, not
12:47
crypto but you're a bit less wrong than before and then this
12:51
person and then this person responds Bitcoin is a
12:54
cryptocurrency. So first, I want you to pay
12:56
attention to the ratio one like, and here's Jack and Rose
12:59
response. Oxygen is also a gas, but we
13:01
can't survive breathing on farts.
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Good response, Jack. Comeau very good response.
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Leverage, he ratio dead rectum, come on.
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I mean, that is just so epic, so epic I loved it.
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Okay, anyways, I had no choice but I felt that I had to turn
13:20
this into an mft. So I did I took a screenshot of
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it Nico. I did what we know how to do
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best. I took a screenshot and I made
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it an NF T. The best nft I've ever made and
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it's great. I would I would totally pay.
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No, I would not. Nope, didn't have to Did I
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actually right? Click it?
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And save it? Yep.
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I right-click it and save it. I right.
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Click and save your in the 50 feel.
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So there you are. You mad.
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I'm going to print it and put it on my wall.
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Uh-huh. You know what I respect and
13:51
commend labra for his for his Thrift and intelligence just say
13:57
it's like come on it's a JPEG who cares cameras but lever
14:01
Haynes good? Just say clever boy clever boy
14:04
no ha ha ha. I'm not going there.
14:09
Okay, we're moving on to the next fail, though, we're moving
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on to the next fail. It does have to do with NF, T's
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does have to do with then ft's. It actually has to do
14:17
specifically with what happened this weekend.
14:20
What started to develop this weekend with open sea and Eco
14:23
you had put in some, some links. And we also got some, we got
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some tags from some fellow bitcoiners, that's why I put it
14:29
in, dude. We got a diary of tags.
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It was like, it was like here, here's like Phil.
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We have to cover the, by the way.
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Shout out to the plebs. Thank you so much for, you know,
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tagging Us in this. This is why we cover.
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This is why we had so much fun. But yeah, dude, it was literally
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my notification Fleet just blew up.
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It was like, bra all at the same time and it was covering this
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and I was like, fill this must be important.
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Yeah. So we're doing it, we're
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covering it and you know what? It started to develop over the
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weekend. Let's dive into it.
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Essentially open sea was exploited, and we're going to
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dive into what happened. Here we go.
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Here's a tweet from Charlie. Edith, Open Sea, hack is bad.
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This guy tornado did into a fresh wallet on December 30th.
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Made a weird contract call on January 22nd to Open.
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Seas contract either scan down, of course.
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So I can't investigate investigate call data and now
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he's pulled 18 and Counting batches of nft.
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So it's not 18n FTS, it's 18 batches.
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And as we're going to see it's it's a few hundred and ft's in
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total. So let's continue on this, by
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the way, was February. Okay, so this is the first tweet
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that that we saw out of this and then we come in February 20th,
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here we go, tweet from at 0x Fubar, a single malicious
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signature. Can rug all of your approved,
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open CN F, TS, no need to sign an individual cell order for
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each one. As originally assumed, this is
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how today's hacker stole 10. Uzuki's 8 MF offers three mutant
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tapes in a single transaction with a single signature and keep
16:06
in mind, right? This Didn't this?
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This didn't happen to all nft is on open.
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See as we're going to see. As we dive into the story, it
16:14
happened to a specific subset of n ft's if you did something
16:16
specific. Anyways, let's continue on here.
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We got tagged right by, add coin, joined a this, there's a
16:24
reason why I'm showing this okay because yeah we got to make fun
16:28
of ourselves. You remember when fractal
16:29
encrypt came on the show right? Nico remember my my toolbar
16:37
Field metal mask icon under browser and then I have to
16:42
resolve. Oh yeah, dude, he fucking he
16:46
dude. This is why we love bitcoiners
16:47
totally fucking wrecked me. Anyways anyways let's continue
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on with the story of the nft. He's here we go.
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This is February 19th again but another adjacent tweet.
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Hey, everyone connected with a few other people who got hacked.
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Just now all of us. Only have one thing in common,
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all of our stolen and lefties were ones, we manually migrated
17:06
on open. See, Open Sea.
17:09
You have so much explaining to do.
17:12
Okay, so it was, there's a lot of different articles on this
17:16
and I think I did a good job of picking the one that kind of
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covers the whole entire thing. So let's dive into it.
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The Open Sea, scammers went fishing and caught over 250 NF
17:25
teas from 17 users. And if tree Traders Monday were
17:29
parsing, the aftermath of an open sea fishing attack that
17:32
resulted in. Hundreds of nf2, he's being
17:34
stolen over the weekend. The attack appears Be over with
17:39
17 victims, right? But as we said 17 victims, but
17:41
over 250, individual lfts, this attack did not originate on,
17:47
Open Sea, Devon, fins are CEO, and co-founder wrote in a series
17:51
of tweets. The company is working with
17:52
users as it aims to uncover, who is responsible, fins are said.
17:57
Now, keep in mind, they still don't really know how
17:59
necessarily it happened. Okay, Vince are dismissed
18:03
reports of the attack, being worth over 200 million and said,
18:06
the hacker had seven 1.7 million of ether, in their wallet,
18:10
confirmed by Ether scans, that kind of goes in line, right?
18:13
With the 68 million dollar nft. But really, it didn't actually
18:17
get sold for that. It's just a publicity scheme.
18:20
So it's kind of interesting that originally, they claimed over
18:22
200 million but really, it's only one point seven mil, don't
18:24
get me wrong, that's still garbage.
18:26
That's still total garbage. You shouldn't get scammed.
18:28
Anyways, let's continue the hacker made off with 254, and
18:31
FTS during the attack, including a few board ape Yacht Club and
18:35
FTS according to a spreadsheet. By blockchain security firm
18:40
techshield. I just want to give a shout out
18:42
to everybody who simply right-clicked, those entities
18:44
and save them. You guys didn't get rug pulled,
18:47
you didn't pay for this and you still got to keep your stupid
18:49
jpegs. Anyway, thank you.
18:52
You're welcome. The users, authorized the
18:57
migration as instructed, in the phishing email.
18:59
And the authorization allowed the hacker to steal the nft S
19:03
tax Shields tweeted Ryan, we've fixed plane who Peck Shield is.
19:06
Baek Shield is one of those auditing firm.
19:07
That usually tells you after the fact how you were robbed
19:10
anyways, as such the malicious orders, were all backed by valid
19:14
signatures from users who fell for the phishing scam and of
19:17
Hollander opens. He's Chief technology officer
19:20
tweeted Sunday. The attackers appeared to have
19:22
exploited users by having them sign a fraudulent signature to
19:25
approve. A private sale of their nft at
19:28
zero eith to the attackers wallet.
19:31
The open Dale Road in a post unfortunately, nobody ever reads
19:34
what they signed phishing scams often occur through text, Such
19:37
as our emails, with deceptive messages ads, or sites that look
19:41
legitimate for the people who didn't know what phishing scams
19:43
were last week. Open, sea launched a customer
19:46
service server with web 3 communications platform, metal
19:50
linked to mitigate the risk of fraudsters, pretending to be
19:53
members of the company staff. Think about that for a second.
19:59
They launched the customer service server with a another
20:02
party, a web, a web 3 Communications company.
20:06
Anyways, let's wrap this up here, the partnership was
20:08
created after alleged scammers previously, impersonated Open
20:11
Sea employees to deceive other nft owners in its Discord chat,
20:14
which resulted in them losing millions of dollars.
20:17
Okay, what I find interesting is this right here?
20:21
It's web 3. Communications platform metal
20:23
link, okay, I don't really see how this is going to stop
20:27
scammers from rug pulling crap. All it does is all it claims to
20:31
do is stop the ability for people to use phishing attacks.
20:34
But who cares. Does it make a difference?
20:37
Anyways, let's continue on found metal links Twitter, okay?
20:41
Really isn't very much about meddling.
20:43
Let's take a look. The follower list.
20:46
This is the person who actually founded metal ink.
20:50
Okay, so Jack, Jack godell. And you can see here, you know,
20:55
loves the shit coining and loves the NF tease.
20:58
Anyways, let's let's continue on to take a look at metal links,
21:01
actual website, there's nothing but a way to connect with your
21:05
meta Master, coinbase, wallet, or whatever the hell.
21:08
This thing is. It's just, it's just really
21:10
strange that this company is all of a sudden, going to go and
21:13
stop rug pulls in this way. I just find it really, really
21:17
odd and then I have to do a lot of digging because there was
21:20
almost no information except what I just showed you guys
21:22
about them. But this, I found really funny.
21:24
This is actually a job posting from them and this I just, I
21:28
couldn't get over. Founding team is a combo of
21:30
crazy marketing and season. Technology leadership, who are
21:34
connected to everyone in the crypto nft space.
21:37
Did you notice that all it is is marketing, right?
21:41
And quote, unquote, technology leadership.
21:45
I have worked with many technology leaders.
21:47
Surprisingly, most of them don't actually know much about
21:50
technology, but they know a lot about buzzwords and they're
21:54
really good at selling the sizzle of technology.
21:57
So anyways, my whole point is Is, is that?
22:01
These people are bringing in this random unknown tiny company
22:05
where you can get no information on them to come in and
22:09
supposedly provide, a layer of security and Trust to open sea,
22:14
which is funded. As we've shown by some of the
22:17
biggest players in the ship coin game and Mark Cuban and Ashton
22:20
Kutcher. Coinbase Ventures all of these
22:22
okay? And they're bringing in this
22:24
tiny little hole in the wall, random platform to come and save
22:29
them from these fishing. Max don't get me wrong.
22:32
This just sounds like a circle jerk.
22:34
This just sounds like you found a way to employ your buddies and
22:37
now they get to keep their lights on anyways.
22:40
Neko Mane, good times. So what I saw is a steaming pile
22:46
of shit was stolen which apparently someone else doesn't
22:49
think it's steaming polish it. But yeah, like this whole thing
22:53
is just these people, you know, the nft the crypto Spade they
22:57
give day. Just give a very bad name to
23:00
bitcoin and It's just a total distraction while you know we
23:04
focus on this show. The large portion of the show at
23:07
least right? Where bitcoiners are focused on
23:09
is separating the money from State and of T's is just noise
23:13
is too distracting. It's distracting, right?
23:15
It's a lot of Fiat mentality. People are trying to get rich
23:19
off worthless garbage because they think someone else is going
23:22
to buy your ape, right? The question is, is your ape
23:26
going to have value 10 years from now?
23:28
It's a very tough question, right?
23:29
Some some digital thing. Someone could just make a
23:32
photocopy of and make an exact, you know, photocopy of your ape
23:36
right? You know there's questions,
23:38
right? It's like I just don't think
23:40
that these things are a good store value.
23:42
That's just my opinion, right? I think there's distraction and
23:46
I definitely know this isn't an opinion.
23:48
I definitely know that they're not too centralized enough to
23:52
withstand a nation-state attack. You just pointed it out there,
23:54
right? You clicked on the metal link,
23:56
they literally had three options to connect and all of them were
23:59
companies. So it's Like that's not going to
24:02
work out, right? And all the from also of also
24:05
read as well is that a lot of these n FTS?
24:07
A lot of these images are hosted on cloud services.
24:11
So it's like it's not even decentralized and I know a lot
24:14
of shit co-owners are it's like yeah but decentralization is not
24:16
important and it's like okay fine maybe in your should
24:19
coronary but I think the Innovation here is separating
24:23
humans away from the monetary policies that Humanity could be
24:26
free. That's what I fight for every
24:28
day while you're trying to get rich off.
24:31
Photocopied monkeys, so that you can get your Lambo right,
24:34
totally different ball game. And it goes back to my initial
24:37
point, which is shit coiners or trying to get their Lambos even
24:40
if it means backstabbing Bitcoin in the process.
24:43
While bitcoiners are trying to free Humanity by separating
24:46
money, away from government. Anyways, Barbara wolf, what are
24:50
your thoughts? Oh, I don't know what to tell
24:55
you, man, all these son of tesol coins.
24:57
It's it's been for a long time. It's gonna happen again.
25:03
The best we can do as bitcoiners.
25:04
Try to give the orange peel to people to knows, even to sheet
25:09
coiners, try to bring to the the right path.
25:11
But then is, is just sad. Like they used to lose all these
25:15
buzzwords to sell their product. Like, as Phil mentioned, right?
25:19
Decentralization Descent of tea, So whatever put it on blockchain
25:24
blah. And this just doesn't make any
25:26
sense. Like, you know, it's sad to see
25:31
but at the same time as I am, I'm happy these peoples get in
25:33
trouble, but it's like this back and forward, right?
25:37
It's good. They got purple.
25:38
And then I sometimes like man's people losing all this money
25:41
when they're going to figure out.
25:42
Yeah, it look I you know, from filling eyes experience, I don't
25:46
know yours lover but I think that every Bitcoin ER has to pay
25:49
a price of tuition. I think that you need a dabble
25:51
in should coin, I think. You're inevitably going to
25:53
dabble and should coins out of curiosity and then when you burn
25:56
your finger you you know you do more research and then while
25:59
you're doing your research, you realize that only Bitcoins the
26:02
one that matters because only Bitcoins the one that separates
26:06
the monetary policy away from the hands of human beings,
26:08
right. It's the only uncorrupted money
26:11
in the Mankind's history, right? Everything else is centralized
26:15
everything else has single points of failure has trust
26:18
involved. Phil yesterday, dedicated part
26:20
of the episode to going into the future of a Maryam.
26:23
And it was day that democracy in their had trust.
26:26
I had all these things that just it hand stitching.
26:29
That's the cheek we had, we've been relying on these systems
26:32
for thousands of years. Look at where it's ended up
26:34
almost worldwide communism. As if you want to continue those
26:38
systems, right Bitcoin, we have a chance to break the cycle but
26:41
the you know what worries? Me feel.
26:42
And I brought up this point before in the show is that I
26:45
think that Humanity might be stupid.
26:48
Like I just think that's the case, dude.
26:51
You know, like You have a Golden Goose in front of you and just
26:54
like people, like I would rather go by the pick to copy of a copy
26:58
of a JPEG monkey so I can go get my Lamborghini.
27:01
This is gonna sound like a terrible analogy but I can't
27:04
help but make it anyways. Okay, this is the difference
27:07
between VHS and betamax and nobody is going to know what I'm
27:11
talking about because I'm an old man, okay, but back in the day
27:14
way but way before CDs and all that, right?
27:17
We had these tapes, okay, and there was this big war between
27:21
Sony's VHS and betamax The Max and betamax was actually higher
27:25
quality. You could fit more data on a
27:27
smaller real and they, and they were better and they lost, you
27:32
know, why they lost because we don't deserve nice things.
27:35
Ha ha ha really, really they lost because Sony is much better
27:40
at selling the sizzle and betamax was that and that that
27:44
scares the shit out of me, okay? That scares the shit out of me
27:47
because think about it, right? We may have that, we have the
27:49
truth on our side, we have reality, on our side, we have
27:52
The incentives of Bitcoin playing out on our side.
27:56
But the shit coiners as we've seen, have the stupid names, the
28:01
sizzle, the fireworks, the stuff that doesn't works but what if
28:06
it did? Hmm, you know what I mean?
28:09
I carry with you slut Splurge or whatever.
28:14
The first step of many theory of it doesn't work yet, but it sure
28:18
sounds lice and Utopia baby. Anyways, fucking nuts will be on
28:23
top of it, you know, I'm sure plenty of source material, Here.
28:26
But anyways, Phil, it's time for the daily mean, review brought
28:29
to you by Citadel 21, it's the best Bitcoin cultural Z knytt
28:32
stories articles Comics by toxic Savage.
28:35
Bitcoiners, this is the artwork for volume 10.
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Every every volume is different and they're scarce is, only 1000
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copies made per volume. Get your print of sedale 21
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today. Alright so memes the memes are
28:47
going to be better because Phil pick them.
28:50
First one is brought To Us by shout out.
28:52
Mr. Robot, here we go. Hey mr.
28:55
Robot. You have a very tough day to
28:58
day, because lab row is going to write your memes.
29:01
He's part of the mean, Lords. All right, the All-Star mean
29:04
crew. Anyways, here we go.
29:07
Mr. Robot doctor, the the Bitcoin, dr.
29:09
Quinn Icarus, its daily, you can screenshot, and have teased
29:12
instead of buying them and if to creators very, very Good Guy.
29:18
Greg zag that nice, Watermark knock, knock the watermark.
29:23
On the other one. Yes, Kappa Wing.
29:26
Oh the next meme is brought To Us by Greg zag knock knock who's
29:31
there? Putin Putin?
29:33
Who Putin? My country on a Bitcoin
29:35
standard? Absolutely hilarious.
29:39
Dude I swear to God if the u.s. goes to war in the UK that is
29:43
the most stupid shit. No one cares.
29:47
Who cares? No one cares.
29:49
Oh man. Anyways is it so hard for us not
29:52
to Go to war with anyways, if you call, no, it's not.
29:55
Of course. Anyways, if you call this a bear
29:57
Market, you must be new here. Their Market has been going on
30:00
for three months. You can believe how much I've
30:02
had to suffer. Twenty Seventeen, nineteen
30:04
thousand, seven, thousand 2018. 6030 220, 28 thousand Thirty,
30:09
thirty eight hundred and of course, the the purple person is
30:13
talking to the OG that experience, all that, I'm sure
30:17
this must be terrible for you. And of course, this is
30:19
Reminiscing on all the drops, right?
30:21
And this is what this is, why it's important.
30:23
Important to hot, alright, if you're new to bitcoin, you're
30:26
going to feel like this guy, guaranteed.
30:29
But if you've been here a couple years, right?
30:32
You know, you experience, right? You're an experienced hot
30:35
Allure, this is what it's all about.
30:37
Anyways, next meme is by Rd underscore BTC.
30:40
Thank you Bitcoin, me and my wealth and yours Bitcoin
30:44
blocking. All, you know, the wealth
30:46
redistribution the fucking the shit koiner e, the fucking
30:50
censorship all of that garbage. Anyways fell.
30:53
Somebody made a great much older version of this mean where they
30:57
highlighted exactly the stuff you're talking about.
31:00
Yeah, but they didn't put the, the Bitcoin logo necessarily
31:03
there. It was, it was like this, it was
31:05
the person, but then down here it was like, hod lers.
31:08
You know, that's kind of thing. Absolutely.
31:11
All right, next one, it's by Roth mus it's a Rick and Morty.
31:16
Morty, ripping up the wall and the reason they're they're
31:19
treating the trucker Convoy is such a threat.
31:21
Is that it exposes how? Power over the population.
31:24
Is it illusion? And that could explain why their
31:28
Crackdown was so severe, right. Very very interesting.
31:32
All right. Moving on to next one it is the
31:36
meteor of Bitcoin heading to the Federal Reserve building.
31:39
Next one, it's by the Bitcoin conference Bitcoin is down 8%
31:42
this week. I'm not surprised.
31:45
And I warned you that this is, this is in was a bubble back in
31:48
2013. Ha ha ha.
31:51
Absolutely. Awesome memes.
31:53
Thank you fellow. Pepsi, fill.
31:54
Very good choice. You go back to our this meme.
31:57
I just want to say something course, I can definitely go back
32:00
to our tease me, but I have to pull it up there.
32:03
I pulled it up. Here we go.
32:06
Booyaka Shaw. All right.
32:08
What about it? Are the you can do better?
32:13
Come on, mate. All right.
32:16
Was that what was that? Was that the Rainy moored that,
32:20
dude? Nah, know, if that was just a
32:22
regular guest, you know, that wouldn't have the, um, foot the
32:26
fact that it's from a meme Lord, right, bro, Rd your trouble, my
32:32
friend. Anyways, feel for that.
32:33
I'm going to give it this little micro SD card.
32:36
That came with my passport. Shout-out sack.
32:39
It is a white sand is Industrial 8 GB.
32:43
Yeah, what about you feel? I always notice.
32:45
Those industrial ones are always smaller.
32:48
Like, they're so small that they're almost useless.
32:50
I mean, don't get me wrong eight, gigs is decent, but he
32:52
can't use that as a drive for a node.
32:53
Anyways. Anyways, are going to go off on
32:55
a tangent on that. I always find that weird and the
32:57
one that ship with the cold Carter like 512.
32:59
Meg's in dunno, it just really surreal, you know, it can't be
33:03
stopped. So that, that's why you get no
33:05
memory. That's why I get ripped off the,
33:06
you know, not again, that had nothing to do with the cold
33:08
card. I'm talking about the size of
33:09
the memory field. It's a marketing.
33:11
It's the marketing. It's a total Market industrial.
33:15
That's why you pay for it. Yes, I get less memory but it's
33:18
industrial so supposedly. It's gonna last forever.
33:20
Anyways, this is for the 3D printing, enthusiasts out there.
33:25
You'll know what this is, this is the filament Friday sticker,
33:28
but it's more than just a sticker has a lot of bumps and a
33:32
lot of wear because when you get a 3D printer, there's a lot of
33:37
calibration involved. So those who have that sticker,
33:39
most likely know that Pain that comes with that sticker but then
33:43
the great feeling that comes after your first print.
33:47
Very wise, very wise. Anyways wolf, what are your
33:51
thoughts? I think those are great names.
33:54
I really love the fact that there's more people making
33:57
memes. We need more of you guys.
33:58
So if you got an idea, just drop it on Twitter, my score for the
34:04
memes. The that will be 4x4 Rubik's
34:10
Cube. Okay.
34:13
Very good, very good scores. Phil but has the rotation
34:18
completed on the Rubik's Cube? Is it completed?
34:22
Or is it just a Rubik's? Edith completed, you just
34:26
completed. That's it.
34:29
You just have to be honest. The only way that I was ever
34:32
able to complete a Rubik's Cube was by undoing the stickers, and
34:35
moving them. Ha, ha ha, dude.
34:38
I've never been out there. So, you know who you're
34:40
listening to. There is, you know, I'm getting
34:43
mad, right? I'm getting upset because of
34:45
what you just said. I'm sorry, the signal there,
34:54
because Labyrinth skipped over it.
34:57
Is that we need Need more meme stirs.
34:59
We need more people drop in memes.
35:01
Remember this is narrative. Trench warfare and memes are
35:05
fucking artillery. So we need as much memes on our
35:08
side as puce as humanly possible because they're very, very
35:12
effective. Surprising surprising or not at
35:14
women at winning the battle for people's minds at the end of the
35:17
day. That that's literally, you know,
35:19
the type of board for that. We're currently experiencing
35:21
worldwide, and memes are so effective.
35:23
And the Boomers that are running the Fiat system, they have no
35:26
answer to them like they Just right, like hit pieces, like,
35:30
stop calling Fiat money if you mean like it's not a meme but
35:33
they they can't, they can't match our mean skills.
35:36
We're gonna meet, you're gonna mean Bitcoin or at least a mean
35:39
Lords, are we just make videos? We're gonna, they're gonna mean
35:41
Bitcoin to 100K mean Bitcoins 100 K.
35:44
That is the signal right there. Anyways, guys, go ahead, labra.
35:48
What? We've got the memes.
35:49
They got nothing. Hmm.
35:52
Yeah, that's that's what is it. What's yellows saying?
35:55
Like you win? The means you win.
35:56
The what was it called? Got it's so good, so good.
36:01
Anyways, I forget total blank. Anyways, guys, we want to know
36:04
if you agree, with their scores, you do disagree.
36:06
Let us know down in the comments section.
36:08
Make sure to join our telegram group linked us, some think
36:10
Bitcoin memes to review. And, of course, make sure to
36:13
subscribe to us and alternative video platforms like Rumble.com
36:16
and our personal favorite Bitcoin tv.com.
36:18
They don't censor their because Bitcoin TV.
36:20
But anyways, Phil it's time for the Daily News brought to you by
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36:45
All right so this is some awesome news in the reason it's
36:48
awesome use is because there has been a centralization of
36:51
manufacturing in China the best Bitcoin miners are made in China
36:56
and that is a risk. Why is that a risk?
36:59
Because recently the Chinese Communist party in 2021 band all
37:04
of crypto including Bitcoin and specifically Bitcoin mining.
37:07
And that caused a huge mining migration of 2021 which I
37:12
believe was very detrimental to the price of Bitcoin but anyways
37:16
this is awesome. This is very, very good news,
37:20
right? Intel details, it's Bitcoin,
37:22
mining Bonanza, mine chips and 3600 watt minor, right?
37:27
And you could read a little a bit about it.
37:28
At is SCC 2022, Intel shared, the Deep dive details of its new
37:34
Bitcoin, miner Bonanza, mine A6 and outline how it melts 300 of
37:38
these tiny power, efficient chips into a powerful 3600, watt
37:43
minor that delivers up to 40 tear hashes of performance.
37:48
And here's a picture of it, very cool stuff, kind of how it works
37:52
and anyways, but, but they are going to announce a new one and
37:57
I'm going to The compare this to an s 19 that the specs of this,
38:02
of course. But they're going to announce
38:06
one until will share more information about the new
38:08
hardware on Wednesday. February. 23rd at 7 a.m.
38:11
PST and we will cover it on tomorrow's episode.
38:14
But how does this compare, right?
38:15
Because at the end of the day, that's what people care about.
38:17
How does this compare to the latest and greatest from bit
38:20
main, right? This is the s19.
38:23
It has a 30 250 watt consumption.
38:28
And it's hash rate is about 95 tear hashes.
38:32
So again, this has 40 Terror hashes compared to 95 and it
38:36
also consumes more power. So it's not a very efficient
38:40
minor, if you compare it to the bit made minor, however,
38:44
however, for that, being their first Asic is absolutely
38:50
mind-blowing. Because, at the end of the day
38:52
bit, Maine has years and years of R&D on their side.
38:55
They've been manufacturing. These puppies Or a large amount
38:59
of time. And as you know, these are
39:01
pretty hard to make. I actually have a buddy of mine.
39:02
I'm not going to name where he works now, but he works.
39:06
He actually founded a pretty dominant Bitcoin company and he
39:10
develops an Asic before and the amount of the, the hard work
39:16
that goes into it. And not only the hard work, but
39:19
the Monopoly that Chinese manufacturing has in the
39:22
industry. They were trying to fight him
39:24
the entire way, right? And we don't have that
39:27
Manufacturing. Capability in the United States
39:29
and that causes of that causes a centralization problem because
39:33
if you have a country that's openly hostile towards Bitcoin
39:36
and they're the only country that creates the latest and
39:39
greatest Bitcoin mining miners that creates a bad situation and
39:44
that's essentially the situation that Bitcoin finds itself in
39:47
today. Now I think it's a better
39:49
situation that Bitcoin was in last year when the majority of
39:52
the hash rate was located in China.
39:56
So I think it's come a long way. I think that as the world right
40:01
my grace or expands their semiconductor manufacturing, to
40:05
not have it all concentrated, in Taiwan that happens to be an
40:09
island that the Chinese Communist Party.
40:11
Really, really wants, right? The, you know, that's a recipe
40:14
for disaster, right? So I know that inter sorry the
40:18
TSM and C is opening a plant in Arizona, right so they are
40:21
expanding manufacturing to the US I hope that accelerates and
40:24
it's not also until you know throwing there there there.
40:28
Glove in the ring into this mining manufacturers.
40:30
We also had news from Jack Dorsey.
40:32
He also wants to make a Bitcoin miner, and we also had news from
40:37
out of back and Samson Mouse company, blog stream, they
40:40
acquired an Israeli company called speed oodles, and they
40:42
also want to get into the mining fact.
40:45
Many mining manufacturing game, right?
40:48
So this is all very good news, right?
40:50
We want non-chinese companies and it's not Chinese specific.
40:54
Is that the content the country is hostile towards Bitcoin.
40:57
So, Non-chinese countries for that reason, to be manufacturing
41:01
Asics. And I think that this is all
41:03
happening in slow motion. So I'm really paying attention
41:07
to what block stream is doing to what Jack Dorsey is doing and
41:10
now to what Intel is doing. And the awesome part about Intel
41:13
is that there are very old company, they're extremely
41:15
well-funded. So I'm very glad that they're
41:17
getting into the game. And if you pay attention to what
41:20
the CEO has to say about this is that he's looking at it more
41:23
from the ESG clean perspective. And That's fine, right?
41:28
Because that means a more efficient minor and more
41:30
efficient miners saves more money for the minor because it
41:34
saves an electricity. So but let's see the hash rate
41:36
at the end of the day. Let's see what you come up with
41:38
so far if you compare it right face to face with the s19, which
41:44
is the latest and greatest from bit main, it uses more
41:47
electricity and it has less hash rate.
41:48
So it's not that much, that's not that great of a machine.
41:51
In my opinion, let's see the prices.
41:53
I haven't seen those, right? So, but let's see their second
41:55
duration, this is their first machine, the fact that It is
41:58
their first machine and it had those specs is very impressive.
42:01
So anyways, Phil what are your thoughts?
42:05
So as you are going through those articles, what got me
42:08
thinking was this Bitcoins incentives strike again, right?
42:13
So, now, here we go. We've got, I was always.
42:15
I was always curious as to what when Intel would throw his hat
42:19
into the ring, right? And I was like, when is this
42:22
going to happen? I mean, they are the biggest
42:24
processor manufacturer, you know, like, I mean everybody
42:28
mean, you know, whether you're using a PC, you know, a Linux.
42:31
I mean yes I know that AMD also makes processors but you know
42:35
Terms of in terms of throughput than all of that.
42:38
You know, all of the great metrics that everybody likes
42:40
until destroys everything else. So I think it's huge.
42:45
That Bitcoins incentives has brought Intel to the table
42:48
number one, number two, Intel is to your point, all apart of that
42:53
ESG crap. So they're going to sit there
42:56
and figure out how to manufacture, you know, these
42:59
types of chips and how to make Asics even more, you know, even
43:03
more quote, unquote, Only, and again, the incentives of Bitcoin
43:08
as we've said, right. It doesn't matter that it takes
43:11
more power because companies are going to be incentivized to
43:14
innovate to make Technologies, to figure out how to get the
43:19
most out of all of that power that it takes.
43:23
And by doing that we're going to actually be able to get more
43:26
power out of using less. So we're just going to end up
43:30
having to hit that Tipping Point.
43:32
But this is to me, this is part of that.
43:36
It's part of that effect. Absolutely labra.
43:39
I know this isn't your strong suit.
43:41
I know you're sticking to the meme games, but you definitely
43:44
like computers because you're in Bitcoin.
43:46
Does it surprise you that Intel is?
43:48
You know, getting into Bitcoin mining?
43:50
If I told you 13 years ago, 10 years ago, that Intel, one of
43:54
one of the biggest. What Phil said, chip
43:55
manufacturers in the world, right?
43:58
It would surprise you, right? Did my bosom that, bruh?
44:02
I lost you for a minute. I didn't get the last part.
44:05
What you said. But anyway, look, I'm not a
44:09
smart man, a smart dog. However, I know that this
44:15
centralization is good and if we have like more companies making
44:19
Miners and they have that incentive of creating these
44:23
machines and making them more efficient, that is good for
44:28
Bitcoin. Absolutely.
44:30
Right. And I think that's beautifully,
44:31
put man, I'd I would I wouldn't I wouldn't describe.
44:35
You so much, man. Have you ever seen the movie
44:38
Forrest Gump, right? Forrest Gump, ended up being
44:41
super, super wealthy. So again, like, you know, you
44:44
don't have to be intellectual to be smart, right?
44:46
I think that's it's a good way to say it.
44:49
Keep it simple. Keep it simple.
44:51
Yeah, it's true. We are called simply Bitcoin and
44:54
you are talking to two idiots. Anyways, anyways, moving on to
44:57
the next one, besides the point. Hey anyone.
45:02
Anyways, moving on to the next one.
45:05
Look, if you've been paying attention to the show, we have
45:08
been specifically telling you one thing take your Bitcoin off
45:13
exchanges, right? And we have also been telling
45:15
you we actually did an episode filled, did a hell of a job
45:18
right where these Korean exchanges were flat-out, Banning
45:21
self custody. They were essentially making it
45:24
essentially against the law over there against the terms of
45:28
service in though. In Korea to essentially, take
45:30
self custody of your Bitcoin, you all could only send it to
45:34
exchanges. Friends.
45:36
This is coming here soon. This is the next battle.
45:40
They're going to try everything and everything to demonize self
45:44
custody because self custody takes power away from them.
45:50
And how scared are they of this? Anyways, let's check out this
45:53
article and you'll see for yourself the osc flags,
45:58
emergencies act tweets by Kraken and coinbase ciose to the Royal
46:03
Canadian Mounted Police Don. Ontario Securities Commission,
46:06
has contacted law enforcement agencies after tweets from the
46:09
chief executive officers of two of the world's most predominant.
46:12
Crypto currency trading platforms appear to offer advice
46:15
on how crypto users could evade emergency restrictions on
46:18
funding for the protest roiling, the country.
46:21
Do you see the narrative that they're trying to paint?
46:26
Wow, all those, all those CEOs did was take your Bitcoin off
46:31
the exchanges because we can't protect you.
46:35
If you keep it with us. So what they're trying to do is
46:38
they're trying to demonize the fact that you're taking
46:42
possession of your wealth. You do you know how insane that
46:47
is Bitcoin shines? A light of Truth on everything
46:52
this is no different. Anyways Christian Rose the osc S
46:56
manager of public affairs said the regulator is aware of post
46:59
earlier this week from Twitter accounts of crack and CEO, Jesse
47:02
Powell and coinbase, he O'Brien. Which criticizes the invocation
47:06
of the emergencies act and advocated for the importance of
47:09
non-custodial. Crypto, wallet, again they're
47:12
trying to tell you that isn't the norm Bitcoin doesn't see
47:18
wallets is non-custodial, custodial, Bitcoin just is.
47:23
In fact, I would even make the argument.
47:25
That if you download the Bitcoin software and you owe make a
47:28
Bitcoin wallet, that's the norm is that considered self
47:31
custodial? Is that considered noncustodial?
47:34
This is Is crazy what they're doing?
47:36
It's absolutely Bonkers. Don't allow them to paint this
47:40
narrative. If you hear someone talking
47:42
about this, Andros you snore, because tell them, tell them
47:45
what the truth is. You see this on Twitter, call it
47:47
out. This is the narrative trench
47:50
warfare that I was talking about during the meme review, this is
47:53
insanity. Anyways, non-custodial wallets
47:57
are controlled directly by an individual, rather than a third
48:00
party such as a crypto currency trading platform.
48:03
Making it more Difficult for law enforcement to freeze or seize
48:07
the funds, they hold. I'll correct that it makes it
48:10
impossible for law, enforcement to freeze it without violence.
48:15
And the thing is, yes, it's very easy, right?
48:19
To freeze things on a mass scale.
48:21
If there's a centralized party that you tell, hey, freeze the
48:24
funds to this account. But if you have millions upon
48:27
millions of people, taking self custody, then violence becomes
48:32
very expensive to do on on a mass scale.
48:35
And if you live in a country like the United States with the
48:39
Second Amendment, then the state even thinks more about
48:43
confiscating and stealing people's wealth.
48:47
This is what I'm talking about. This is the battle to come.
48:50
They are going to demonize self custody.
48:52
And if you've been subscribed to this channel, we have been
48:55
telling you this. We have been screaming at it
48:57
from the rooftops, for a couple months now.
49:00
The battle has come. I didn't think it was gonna come
49:02
so soon, but it has arrived. Anyways these are talking point,
49:07
the Ontario Securities Commission has flagged to law
49:09
enforcement tweets from CEOs of coinbase and cracking that were
49:12
critical of Canada's emergency orders and the advocated for the
49:15
use of hard to seize, non-custodial wallet.
49:18
You hear that wording, bro? The critical, you can't be
49:21
critical of the government anymore.
49:23
Phil cat, apparently. It's bad.
49:25
It's against the law and check this out.
49:28
Advocated for the use of hard to see these non-custodial.
49:32
Check out that fucking narrative language.
49:35
Anyways, the incident just demonstrates how
49:38
cryptocurrencies big business aspirations are clashing with
49:41
its anti-government roots amid, the current state of emergency
49:45
this is nuts by the way. All this language, all the
49:49
vocabulary they choose is on purpose.
49:52
They're trying to paint a picture to their readers.
49:55
They're trying to make it out like self custody is not a
49:59
god-given, right? And we believe it is.
50:02
If you have access to the internet, you can download a
50:04
Bitcoin wallet. Don't make the, don't make the
50:07
other parties make you believe like that isn't.
50:10
Okay. And that's what they're trying
50:13
to tell you. We are aware of this information
50:16
and I've shared it with the RCMP and relevant Federal
50:19
authorities, right? What is what is the information
50:22
that to CEOs of shit, coin exchanges or telling you to self
50:28
custody? Did it.
50:30
Do you see what they're doing? And by the way, they would not
50:34
be doing this. If they weren't absolutely
50:36
terrified, this is fear. What you're seeing is fear
50:40
because they know that they have this giant thing that they can't
50:43
control. They can't sense her, but
50:45
they're trying to make the public believe.
50:47
Like this is business as usual. So this is going to get worse.
50:53
This is what they're going to come after.
50:55
And as Bitcoin continues to go up in market cap and more and
50:58
more people exit, the slavery Legacy Financial system and they
51:02
take control over their sovereignty, over their wealth.
51:05
Over their time, over their energy governments are going to
51:09
crack down harder and harder and harder on self custody because
51:13
self custody means they lose power and the state definitely
51:18
doesn't want to lose power. So that That's why you have that
51:21
reaction from the Canadian government.
51:24
I'm telling you it's going to a cover.
51:25
It's going to come to a government near you very soon.
51:29
This is the next fight. This is going to be absolutely
51:32
Bonkers. I told you it was going to get
51:34
worse before it gets better. We haven't even started yet.
51:38
This is definitely the yet they fight you stage and again if you
51:41
don't want to find yourself in a tricky situation, take your
51:44
coins off the fucking exchange and take it into self, custody
51:48
preferably into a cold wallet. It right like a hardware wallet
51:52
like colds card like treasure like Ledger.
51:55
All of the above they work, take them off, take your power back,
51:59
Phil man, very powerful and scary shit.
52:04
All at the same time, what really gets me though is that
52:07
it's okay for us to give our time that we can never get back.
52:10
Okay. We give our time, for whatever
52:11
it is that we choose to. We choose to store the value of
52:15
that time. In whatever medium we choose do
52:17
for us, we choose in Bitcoin and it's Be interesting that we're
52:24
seeing as we're seen as somehow, you know, some form of criminal
52:28
or extremists because we want to control the use and storage of
52:33
the time. We cannot get back.
52:36
That makes no sense at all. When did we when did we all
52:41
become? So I don't even know what to say
52:44
but just like when did we all become so ridiculously cocked
52:49
right? Like let's be honest like that,
52:50
that's insane. That is completely insane.
52:53
I've said this before thousand times, we give this with the
52:56
only string is that we get paid for the top for the valve, for
53:00
the time that we spend, or the service that we provide, and
53:04
then they go. And they, you know, the The
53:06
state steals it from us. Number one, subversively, okay?
53:10
And then number two is going to start starts the sensor where we
53:16
can go and spend this money. And then, on top of that, as you
53:18
showed with those like, the tweets, were reported to the
53:23
RCMP. Because these people, which
53:26
don't get me wrong, Jesse Powell is not incentivized in any way,
53:28
shape, or form to tell you to self custody.
53:31
Okay, like he's shockingly, you know, he did the right thing, he
53:35
did the truthful. That is the right thing to tell
53:37
you that is good for you. And that's the really sad thing.
53:41
Okay, we're supposed to trust the government, right?
53:44
They we just saw yesterday. No, hold on.
53:46
We saw Justin Trudeau yesterday, say You're supposed to trust the
53:48
government to do the right thing for its people.
53:51
But yet, you know, they're going to sit there and they're going
53:55
to starve you out because you don't agree with them, not even
53:57
that you're doing something that's necessarily wrong.
54:00
They're just going to deem what you're doing illegal and then
54:02
they're going to starve you out. That is psychotic.
54:05
This is All crazy. A man, I never thought I'd see
54:10
this. This is just nuts.
54:12
Dude, it's absolutely Bonkers. Don't let them tell you.
54:17
Otherwise, you have a right to store your time, your wealth
54:22
without the government, having the ability to freeze it if a
54:26
political party wins a popularity contest, that is
54:30
absolutely crazy. That is nuts.
54:33
If you have certain political beliefs, people are allowed to
54:35
steal wealth from you because that's what I'm saying.
54:38
That's what I'm Right? Because remember the paradigm
54:41
shift that we're in guys, and I keep talking about this concept,
54:43
the state had a man has a monopoly on violence, so it's
54:48
very easy for them to cease all this wealth that a snap of a
54:52
finger because the system is centralized, but you have a
54:55
decentralized system. If people are taking self
54:58
custody, it's very hard for the state to seize wealth from
55:02
Millions upon millions of people.
55:03
If they literally have to go physically to those locations
55:07
and go think about it. It one at a time.
55:10
So again, it moves the balance of power from the state to the
55:14
individual and that is the time that we're living it.
55:18
But you could only benefit from that power that you're taking
55:21
back. Only, if you take self custody
55:24
and preferably for privacy run your own node as well.
55:28
And this is the time we are at this moment, we are in the then
55:32
they fight you say just as the very beginning of this stage and
55:35
it's going to get scarier and which is why you have to take
55:38
self custody. Fifth time.
55:40
Anyways, Labradoodle from the memers perspective.
55:43
What are your thoughts on all this?
55:45
Yeah, couple of things. First of all, I never thought
55:50
that this things would start happening in Canada and I'm
55:54
really sad about that. It's crazy.
55:57
All these Ultra terrorism that is happening.
56:00
I never thought that it would happen in Canada then the Kraken
56:07
CEO and it was coinbase to for calling out that telling people
56:11
that look we cannot protect you if you Have your coins in our
56:16
change. I mean, that's the true that
56:19
they are not saying anything wrong.
56:21
I mean, it's the truth. Do not get punished for saying
56:24
the true now. It's just, I can't believe this
56:29
is happening and this could be like the beginning of like a
56:34
social credit score, and won't be allowed to go to a
56:37
restaurant, or maybe a football game, something like that.
56:40
Yeah, if you have certain political beliefs, right?
56:44
You're not yours. Another your other Dubrow.
56:46
That's what this is, dude. That's what this is.
56:50
It's absolutely terrifying. And I just want to point this
56:52
out because Library, you brought a very good point.
56:54
Upright, which is, this is crazy.
56:56
I'm going to read you. The first part of this article
56:59
that I'm going to read you this. Okay, so, the first article, the
57:02
first part of this article started with the Ontario
57:05
Securities Commission. Has contacted law enforcement
57:07
agencies after tweets from the chief executive office.
57:10
Executives of two of the world's predominant cryptocurrency trap
57:14
platforms appeared Offer advice on how crypto users could evade
57:18
emergency restrictions on funding for the protest rolling.
57:21
The country, that's the first paragraph.
57:23
Now, I'm going to read you this paragraph.
57:24
After we scroll all the way down.
57:26
It says, it's not that they're breaking the law by making these
57:30
statements, but it optically doesn't look good.
57:33
There's a possibility that Finch rep could more closely monitor
57:36
these exchanges. As a result of those comments,
57:39
it could be attracting some undue attention that sounds like
57:43
a threat from a mobster. Your dad sounds.
57:46
What the fuck? It sounds like.
57:47
Yeah, that's right. He don't like how you're saying
57:50
it even though it's not illegal, it makes the regime look bad and
57:55
it could potentially take power away from the regime.
57:58
So don't say it or else. Bonkers Bonkers, and this guy's
58:04
filled before the last point and I'll shut up.
58:07
This is why we must separate money from state or none of this
58:12
will change. No matter who you fucking vote
58:16
into office, nothing will change.
58:18
You must take the money out of the hands of politicians or one
58:23
day. The political party that you
58:25
didn't vote for is going to use the power against you.
58:29
This must change. It's going to repeat itself the
58:32
cycle over and over again, tyranny, Freedom, tyranny,
58:35
Freedom nuts. Phil I'll shut up no, not a man,
58:39
not at all and this is it. Absolutely infuriating.
58:42
I just wanted to go back to as you reread that first paragraph,
58:46
I realized that they used the word evade.
58:50
Okay. So we should try using some of
58:53
this. We should try using some of
58:54
this, some of this spin on our own stuff, right?
58:58
Maybe we can spin it as the, the sea.
59:01
CEOs, of the two, biggest, the two biggest exchanges were
59:05
explaining to users, how to continue to be able to feed
59:08
their families and clothe them and keep roofs over their heads.
59:12
While the tyrannical government makes a hissy fit.
59:17
You know, we just give them a little different perspective
59:20
because that's really what's happening.
59:22
That is sad pathetic, shit, and the fact that they go and frame
59:26
these people this way right as teaching people to evade, no,
59:32
that's not evasion. You should have zero freaking
59:36
right to the time value that I can never get back.
59:40
That is the absolute truth. I should be the commander of my
59:44
ship so to speak. Anyways.
59:46
Yeah. And they're going to try to say,
59:48
here's the thing, they're going to try to say that law
59:50
enforcement isn't going to be effective without, you know,
59:54
them, having the ability to freeze your money.
59:56
That is bullshit because you live in meatspace, right?
59:59
Because you live in meatspace, that means that you're going to
1:00:01
have a person. That means that that person,
1:00:04
right? Could be put in that Q, be put
1:00:06
in a box, right? But the ability for them to
1:00:09
essentially sensor, millions of pond, peep millions of people
1:00:13
whole group of people for their political belief that goes.
1:00:16
Away completely, right? This is what I'm talking about,
1:00:20
right? It's not about evading crime.
1:00:22
Has never been about that. In fact, Bitcoin is not very
1:00:24
effective out of aving building climb because it's a public
1:00:27
blockchain cash is much more effective.
1:00:30
You get cash, are you going to how you can attract that, right?
1:00:33
And even came out earlier this morning, that it was chain
1:00:36
analysis that tracked, some Wasabi transactions, right?
1:00:40
So clearly a public blockchain isn't good for off you skating
1:00:43
and let money laundering as much as the politicians would like
1:00:46
you to believe. And we have the data behind
1:00:48
that, right? The, the the the criminal
1:00:50
activity tried to crypto actually fell this year, it's
1:00:54
like two percent. So very low number, right?
1:00:56
So again, they're talking not from a place of protecting you
1:01:00
or protecting Society from criminal activity, it comes from
1:01:03
a place of trying to maintain power.
1:01:07
That is it, don't you? You guys saw the paragraph how
1:01:10
that phrase that the narrative right first?
1:01:12
It's like these people are evading and then the second is
1:01:14
not that it's against the law, we just don't like it.
1:01:16
Like, come on, bro. Like, you don't get understand
1:01:19
legal, you don't understand. It's for your safety, bro.
1:01:22
It's for my safety everything. It's a danger to democracies of
1:01:26
custody is a danger to the market.
1:01:27
That's the next one. Anyways laboratory.
1:01:29
So any closing thoughts? Yeah, something that I wanted to
1:01:32
have, guys. Seriously, just get your Bitcoin
1:01:36
out of the exchanges costly, those yourself.
1:01:38
And I've been having like this conversation, myself along with
1:01:44
the main Factory that doesn't exist.
1:01:46
About food in the or having to memorize yourself Race For
1:01:52
example, versus having a, her wallet.
1:01:55
And yeah, lately, I've been thinking a lot about that in
1:02:00
just memorizing, the see the phrase instead of putting that
1:02:03
in a her wallet in case you have to travel or something like
1:02:06
that. You know, I really love the cold
1:02:08
card but if you travel with that can get attention or something.
1:02:13
So yeah, that's something that I've been thinking about and And
1:02:17
maybe I'll, I'll do that, but definitely people just cost to
1:02:22
read your own coins. Memorize your seat phrase, put
1:02:25
it on her wallet, whatever you have to do but don't leave him
1:02:28
on an exchange please? Yeah, absolutely.
1:02:31
There's so many ways. Like, you know, you could
1:02:32
memorize your seed words, right? You could use multisig and
1:02:36
geographically separate your seeds and different geographical
1:02:39
locations, different different jurisdictions, right?
1:02:42
You can have your. So you can have a two or three
1:02:44
multisig. You could have one key and the
1:02:46
States. One key in El Salvador, right?
1:02:48
So there's different ways to mitigate this.
1:02:51
There's no perfect solution but there's trade-offs.
1:02:54
But the advantage of all these Solutions is that the balance of
1:02:57
power shifts, right? It shifts from the state to the
1:03:02
individual. This is what all these
1:03:04
Technologies do. They Empower you over the mob
1:03:07
over the collective, right? And I think that's the signal
1:03:10
and we're going to stay on top of this guy's is very scary
1:03:12
stuff. But anyways, feel there was an
1:03:14
open source off early today. Why do you tell everybody?
1:03:16
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Guys, don't forget to check out our audio.
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Only episodes we drop them on Apple.
1:03:50
Podcasts Spotify, and anchor. Awesome.
1:03:53
Thank you. Feel before we go, guys, I want
1:03:55
to give a very, very special shout-out to our awesome thread
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sponsor. It's called represent you.
1:04:00
Go visit their website, DieHard.com Phil and I have, we
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try to wear different hoodies every Episode VII.
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They make awesome stuff, very high quality, and you can take
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We're going to try to wear them on the show and I also want to
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give a very, very special shout-out to this awesome.
1:04:26
Guest is part of the meme Factory.
1:04:29
He's a legend. You can go give them a follow on
1:04:31
Twitter. For some awesome memes.
1:04:34
At lava Jato. 20 gives making account they try to, they try to
1:04:38
get rid of him but he keeps coming back.
1:04:40
Is the power of the internet? Definitely go give that mean
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Stir of follow guys that was our show if you enjoyed the show you
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Whoo.