THE $100K BITCOIN JINX | RABBIT HOLE RECAP #333
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So, freak, this rippers brought you by a good friends at unshamed. We've got a special event for you, an online event. Bitcoin is hiding its stride.

Massive etf inflows, major g political changes, increasing corporate adoption in a proposed U. S. Tra teacher reserve twenty twenty five is shaping up to be a defining year.

I think it's pretty safe to say that if you've been paying attention, you probably should be here's a real question you to be asking yourself. Are you ready? Is your big queen house in water? If you're not sure, you're luck on december tenth, unchained as hosting essential session focused on helping you get positioned for what's ahead. You walk away with the clear path to your end of your moves, smart, smarter strategies for bringing your family into big coin in the confidence of knowing your set up for the long call.

Join unchained general council jeff Andrew and adamec capital founder tir the mister both have been on the the cast many times to understand what makes this moment different in the key moves you need to consider from urn planning to bring your family into bitcoin the right way with the bull run gain momentum. This is your window to get ready for what's ahead. Registered unchained that com slash or hr.

It's unchained that com slash or hr. This rule is also about to you by a good friends at coin coin kite producers, the best bitcoin hardware in the world. You're watching the video right now. You can see the block lock behind me. This is the only true black clock, the best black clock.

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Use the code R, H, R for five percent off. I check last. But at least this rip was brought to you are good friends at stack ork.

Stack ork is a cloud sourcing platform that combines the power of humans in A A I. If you will listen to us discuss simple proof, digital witness and how they secure the automobile election on the show. Stack ork and they are distributed cloud sourcing workforce helped secure that automobile election. Right now they're looking for mobile developers. So if you are looking for a job in the bitcoin space is not only at the cutting edge of bitch, but also ai hit up stack work of their careers page, find that we're looking for swift in cotton mobile debs right now so you're swifter, a cotton developer looking for a job in the space, looking to be on the cutting edge. Go hit up stack ork and can go there website its stack ork S T A K W W O R K that A I enjoy this flip, okay?

You've had a dynamic where money become freer than free. Let me talk about a fed just gone that all all the central banks going not so it's all acting like safe haven. I believe that in a world where central bankers are tripping over themselves to divide their currency, bitcoin wins.

In the world of fiat currencies, bitcoin is the Victor. I mean, that's part of the whole case for bitcoin. If not any attention, you probably should be, probably should be, probably should be, probably should be.

Dam IT, I can't believe Angel launched happy .

thanksgiving fruits.

happy thanksgiving .

day special on the .

books one hundred k bickle drinks with a dell and Martin .

en marmaris. I didn't know I named to that, but he's just been generating that left and right since last week, so has seemed .

fitting. I home cap, three, three, three, three, three, three.

There's a big one .

that no agenda is would not be happy with us or they would three, three, three, three, three. The number of lot of taboo around IT, but I went are because I was talking to a freak earlier this week on the firm. Like the prospects are getting in from trade fight to the bit in industry. And he has a bet with his wife that the fight mean rapt recap a particular title he would win. And I forgot to mention IT before we had record.

I have been a rigged bet.

yeah.

Was the name .

supposed to be? I completely forget.

So doesn't matter.

Member, the name get.

but he should know. He know Better on the one of the episodes.

true. Was that else forgotten from last week that we get to boost?

no. So that wasn't forgotten and saw hill boost to the show. No, he boost to the show and saw the episode that you can even figure out how to work.

What do you say.

I think was the promoting as new .

protests walk and talk some broadcast .

if you guys want to promote that, can we do you have logan? Do you have the boost? Can you read the boost?

The link? Let me pull IT up. He booted .

us sixty nine thousand, four hundred and twenty sides.

nice. So I know. But you boost .

to the show instead of the, I think thanksgiving is my favorite holiday.

IT is great.

It's a good.

It's a good one we are talking about before the short show.

Code names, incredible game.

Love I can play. You can play for hours, spill up teams.

Good game.

You can know how to think with other people. I was play with my brother, and we had some words that only we would know are associated with each other is fun. I found, I found the boost read a logan, uh, user, five nine, six five six eight.

two five, sixty nine thousand four hundred and sets friendly reminder for Martin to show up to cross fit on friday. So come rocket, come rocket o .

the acco cross at this morning, I decided my mombi in town, decided go to breakfast, took the boys to the train in park. We even know a trample in park recently.

No, my sons are over too Young for that. But that .

sounds awesome. It's awesome today. I don't think they were as popular as anything like ten of them down here in the ordinary .

like that in dog bar is now right? Ah what can we just talk like cycle? A man of character doesn't even show this new podcast. What is IT called talk and walk, walk and talk?

I don't know that thought this is the the the the vibe at the shows he's blocking in talking with his guests and recording .

and it's about bitcoin design is IT. Yeah, I was going to listen to you, but I haven't .

listening to yeah, first, epo was really good.

Did you listen to?

I did.

Paul was a, he's got two episodes now for the twenty one you. Okay, well, go check that out. Three, seven.

Listen to IT. I did not pull over for thanksgiving now. So I kind of go like the of the roca podcast.

How was that?

It's great. So a fun chat in a paul.

Now, before we started charges on a am, thankful for you spent great six years. We've come a long way from the steal apartment in brookline to your your library where you were doing covered my father and al's bedroom. Austin national, ten thirty one. Look at us now.

the bedroom, laconic, like wise father, incredibly grateful. I'm an incredibly grateful for all the weeks. What a journey .

is not possible. This want to be possible without the frogs. Do you think we could talk to each other once a week for one hour to three hours without the freak dismiss the encouragement, letting us know that they're getting value out of the show? It's a great thing.

Thank you guys for joining us. If you are alive, you know, thanksgiving weekend, our families are in time. Sure, your families are in in town. So we get you if you're here joining us for rabbit rec three thirty three and we are not going to waste your time.

We will jump into IT now that we've had the power well about thanksgiving board games saw hills podcast and we'll go a Clark meeting dashboard turn Price speak ninety seven thousand one hundred fifty cut box one cut boxon get you one thousand twenty nine sats. The Price for a little lower. We could have had ten thirty one sats.

The backing gods are aren't working with this though. Market cap a bitcoin is one point nine two trillion. We are blocked at eight hundred and seven, two thousand, five hundred and two, which means we are four hundred and twenty six blocks away from the next difficult to adjustment, which is looking like an upas adjustment of one percent.

Boxing coming in at nine minutes, fifty four seconds on average since the last difficulty adjustment. They're currently one hundred and five thousand and four hundred and eighty one transactions in Clark's metal for in that space will see they have two hundred and sixty six thousand, four hundred and fifty transactions in their member. Uh, fees not too high, little high.

Fourteen sets for bee by if you only in the next book, twelve sets for v by if you have a medium priority transaction. In ten sats for b by if you have low priority transaction. That is a state of network.

Things are happening. Things are happening. Big news. This week from ten thirty one portfolio company, we released an episode of bitcoin alpha with becker and rob from anchor watch this morning on the t ftc.

Youtube page here. If you're watching life there, you find IT there or your podcast feed on the t ftc. But if fish became a loyd of london cover holder, which allows them to officially undertake insurance policies for individuals, companies that want to ensure their background holdings.

And what's really important here is that anchor watch is found a way leveraging combination of bitcoins, native smart, catch smart, king smart contracting capabilities via many script. And the work they omit loads to ensure bitcoin one to one up to one hundred million dollars per policy is pretty massive. We've been watching to build this behind the scenes for over two years now. This is a big step for them.

yes. So h to be clear as collaborative custody multi sake um and is ensured. And uh one piece that I think is partial m here they're actually able to ensure five dollar range attacks as well um which is is I think incredibly unique in the space.

I don't I don't know if anyone is offering that. I definitely know one's offering collaborative custody insurance where you keep your own keys. Um but with five dollar range attacks added on as well, the cover is pretty strong. It's kind of be stronger and basically just not a lawyer.

But is my understanding is that IT covers pretty much everything except you sending a transaction where you are sending to like the wrong address or something that that on you, I ll still double checker addressers, but one little PC of freak that is kind of embarrassing on our and is last week, we just got on and on about like huge news and thirty one companies um and we forgot to talk about this, but we didn't include this word in the list and IT is absolutely massive. And just to show you know how ridiculous that was, like I I was actually the one who send out the release. I still got good. So apologies to rob in beco and the rest the team, but we give you front center coverage this week and that, that will go into effect in december. So at some point in, in december, uh, it'll be alive and and you'll be able to to spend up your volts and have them insured by one of the largest insurance companies in the world.

Yeah the lowest stamp of approval is massive quickly for institutions looking to get comfortable with the product like this. And I think go back to like the five dollar range attack insurance book, excEllent, really great on the bitcoin alpha episode that create is really unique disincentive for five dollar range attacks in the first place, if you have like a instead of this house is protected by bring sign from your house is like this house is protected by anchor watch.

Because if you do get five dollar an attack, an attacker successfully figures out a way to get your bitcoin that's ensured in one of these policies, uh, you get your like anker watch will do in investigation to make sure that was actually you weren't like faking a five dollar an attack. And once it's obvious that you weren't, you get your big coin back in full one to one with up to your policy what you what you took out and then the bitcoin that the attacker took is technical, legally anchor watches bitcoin that they then have an incentive to recover. And so you have this sort of like bound tea on that bitcoin um that the company with a lot of strung backing ers is looking looking to recover. And so you have this distent ent of where for five dollar range tacking and you do IT from somebody is ensured by anchor watch like you're going to be hunt IT down. Those ut xs are going be hunted down in a perpetuity, which is really interesting.

Yeah I I mean, while or just before you wrap this topic, I the cool part about anker watched to me is that you have best in class tech. So the actual software wallet and the coordinator for up these multiple is a is a awesome. It's just it's it's a technically strong foundation um and then you have the insurance built on top of that. Um and both undertakings were very long undertakings during during the bear market. So it's it's pretty awesome to see IT out.

IT is just to back up the whole team. I saw robbery tweet. He might be a lot. Chat, see the youtube live chat and pulled that up. You chat up to everybody in the real life chat over it's APP ed .

out stream R H R T V stream will map twenty one pt ten thousand and and jush zp t two point one thousand sets. There are are two largest sappers so far today.

Thank you. fix. Thank you. Robber is madden the youtube black chair just checked aren't moving on the list. Big news. As IT pertains to a case that we've been covering for a couple years now, uh, tornado cash, the U. S. Appeals court overturned sanctions against torn nado cash to this circuit court of appeals determine that the office of foreign assets control, all fake as it's commonly referred to, exceeded its authority by adding tornado cash to its special designated nationals in block person's list um so we hold that tornado cash on mutual smart contracts.

The lines of privacy enabling software code or not the property of a foreign or entity, meaning one, they cannot be blocked under I E, E, P, A and two o fac overstepped its congressionally defined authority, ruled the three judge panel at the first circuit appeals court. Court determined that tornadoes cash of smart contracts are merely lines of code and do not qualify as services or property. IT also concluded that tornado cash does not owner control these contracts because developers have relinquish ed any role in their Operation distingue shing between mutual and immutable able software. This is pretty .

big yeah this is uh, unexpected fantastic news. Um I I keep waiting for the other shoot a drop ah I is surprising in a good way um so IT should be interesting to see how the tornadoes cash case proceeds right because they can still you know I guess like the U S. Has one founder um and the duck have another founder is my understanding.

So the us. Could still end up throwing in the founder in jail for a long time. But it's it's a case that the this ruling seems like once i'm not a lawyer, seems like I will set pretty strong president in terms of privacy and freedom on board chains and and highlights the importance .

of officer on behalf of organizations like coin center at the between policy institute.

I think there's a strong argument to be made that a lot of the amax briefs that have been written, particularly around the tornado cash um case, have actually had some affected, helping to educate judges and lawyers about how these things actually work in whether now people are actually the quote Operators actually have any control, whether it's a smart contract or um uh a collaboration transaction that may be so called to see unexpected as well. Was not expecting something like this. It's nice to know that there are judges within the U S.

Court system that. Will dig in, try to understand the stuff and role adequately. This isn't over. Obviously, this was an appeals court, but that will be appealed by the prosecution. And this will continue, but is a good step, good president.

Pig backing off that sema while torto cash prosecutor deion Williams is stepping down in december from his from his spot as the united states attorney for the southern n district of new york and he also believe they are they announced the replacement too.

Do you know who the replacement is?

I saw little tweet about .

IT always have to remember.

put this zero for the o with little yeah.

I don't know what to take from this IT seems like good news. I have no idea what like that. Like why why this is the case or how this fix things going forward? Um IT might have something to do. I wouldn't be surprised if it's in relation to the election and he thought he was onna get removed regardless um but also unexpected.

But my refine, you keep talking and try find the .

street from ola. So also in the shower notes, I put links to donate to the summer I legal defense fund ah you can go to p to p rights that org um to donate um you can either donate to p to p rights is general fund which will funds will be used for a variety of legal defense cases. Uh for opens or software developers or you can hear market specifically uh for the summer I founders um there there has been a lot of positive uh, momentum in terms of donations, but uh, there are still well short of the amount of money that they really need to to fight this case in the right way. So every sad really does help.

And also on that note, um ocean did a really cool thing uh this week where the way ocean set up is you don't actually have an account ocean, you just set your worker name to a bitcoin address and the bitcoin goes directly to that address if you find a block um and like if if if if a block is found by ocean, your proportion goes to the bacon, adjust that you list right so they made IT very easy. They tweet out um and post on aster how what address to use for that and if so, you can set your hash to automatically donate to the sammi illegal defense, which I thought was was pretty cool. Great, you know, great. Initiated by them. And I just the concept, right? Donating hash to a legal defense fund is a powerful, powerful concept.

I concerning the history of a luken sami team, this is a big move by the ocean team.

Yeah, I I got a love to see IT. They specifically know historically theyve hated each other. And the sami developers.

Have you been very aggressive about luke specifically? And then later ocean when the when the pool launched. So it's it's cool seeing them be a bigger man about IT and you print .

principle in front of in front of personal squabs, you know .

actually actually absolutely to see IT.

As we said, as mad said, you can donate to a lot of these defense cases at p two p rights that work and then we have a linked to um a primal account where you can donate as well.

This is good. And look, we're getting close the end of the year. Bitcoins up a lot. You might have a lot of gains if you are in the U S. Um both p to p right title and and open sets are tax educable. So in either case, you can donate anonyme sly or you can donate and get a tax on um so if you do have a lot of tax games, consider supporting these causes um and then you get illegally pay uncle sam less so when went do you .

think cooker sans allotted your dollars correctly daily? If we pay all your tax, pay all the taxes, you, if not, try to figure out way to pay less taxes.

We have his stomach in the in the naster live chat apt twenty one thousand sets and we have silent out link ah has also APP ed twenty one thousand and sets. Thank you for your support and specifically silent I link. Thank you for your incredible service. I absolutely rely on IT and it's awesome and channel .

to a long time freak OK sharp, the boomer pleb here who actually navigated to set up a APP touch dream account if the boomer can do IT, you can do IT till set IT up freak moving along. Big news about the mining world. I heard ruling of rumblings of this for last few weeks, but he was finally confirmed by the team, had blocked space media shout out to foxy and crew.

IT has become a parent that bit. Main and minor units are being halted at U. S.

Customs for months. Believe this, I don't know. This has to do a terrace.

Terrace have been on minors coming from china for some time now. But IT seems like the federal communications commission, the fcc, requested the U. S.

Customs and border protection to hold bit main asic shipments at U. S. ports. Uh, border protection has reportedly delayed some of these shipment s nationwide for nearly two months, including ports and time forces go and detroit bit main latest APP minor s twenty one and t twenty one asic imports are being held. Sources at fcc, N, C, B, P aren't targeting other makers like microbe t or canon, according to the report.

Doesn't that mean it's not terrible lately? Because otherwise microbot would be .

getting had to, uh, it's not terrible. But micro beauty, I believe, officially moved their corporate headquarters to malaya and I think IT may may still be there. I don't think it's terrible related.

But so what the speculation why is this happening?

哪种 那种？ I don't know speculating， i'm speculating on the spot right now.

Do you haven't heard any light room as anything?

No no rumors about intention. Just have i've heard over the last few weeks that um the people have had their their water stopped or frozen at the border.

I just happening .

yeah well .

we will keep in I on a freak, and we will keep .

you guys updated.

What what would IT be mean? Be aware .

they turned to say that bit main importing backboard hardware and says, maybe, and I know maybe .

maybe they're going to seize them for the .

strategic mining reserve. Maybe maybe another source told blocks base that C, B.

P, I don't think that's the case, but.

This is fucked up to another source told blocks space that C B P is holding about two other units of minor C B P N F C C ignored the company's information request and are charging daily fees over two hundred thousand dollars. War companies hired a law firm to obtain information from the fcc. The fcc media represented told blocks space. They have no knowledge of voters halting bit main harbour.

Well, that sounds like a scam.

yeah.

Well, added to the list of external alist that make the mining business incredibly contract and hard to do.

If you have minors plugged in, this is great to see. You know your competition is having there. They're hardware frozen and unable to be plugged in. That's a flight.

Maybe it's like maron, one of the large one of the large miners are china grow over but else no. I mean, that's obviously i'm just fucking .

around here. Seven hundred eight is a hasher second right now over last week according to meant ports is yeah this is something in the keeping eye.

If when I hear it's not easy to a taxi, get these border patrol agent taxi work with you. The very, very typical.

it's like working .

with the D, M, B to get a problem solved, not ideal.

News this week from swan, they had some detail to customers explaining why the accounts are being charged one hundred and twenty five dollars. Apparently it's coming from um their third party custody and trust provider forces trust which is charging one hundred and twenty five dollar I believe with an annual service fee ad monthly per count that is automatically being deducted from swan users or techno fortier trust users.

So this is the swan email fortas did respond in an email as well. I'll give this tea logan throw IT up but swan basically saying they're going to cover um the cost by reducing fees for their users from now until july of twenty twenty five. I believe we're gonna get in basic two hundred fifty dollars in fee credits between now and then, but highlights the importance of owning your own .

infrastructure, what we say.

which is said deer client force, is aware of potentially misleading statements related to client accounts and wanted to provide an update. We are mourner's. These communications will do what we can within our controlled to ensure you have the most up to date and accurate information as many clients are where four has notified electronic solutions in doing business as song big on that, IT will terminate providing services to swallow in as a december twenty twenty four.

Many reasons go into these decisions, but top among them our ability to have confidence that we can provide a suitable service to fortas account holders. Rest assured, pending the transfer forces is proceeding with managing client accounts in accordance with custodial agreement between fortuity and clients will continue to priorities. Our clients experienced the process to avoid any further with communications or misunderstandings regarding the next steps, ensuring an efficient and safe hand off to a successor custodian.

Fortress will be updating client count both on its site in social media platforms and has update declined account information directly that reflects the baLance of your custodial account in any current projected amounts being reserved pending the final transfer counts. Successor, custodian, traditional transparency. We've also published as updated fee schedule online in the following week that reflects the cost of our services.

We have a sold question to wave or otherwise amen. Such fees are accordance with our custodial agreements with lights as well as based on our negotiations with other partner platforms. No, he said he said going on between sana waters right now.

he seems to be a trend. Um 哎呀 yes， IT to be clear here, swan is not covering a this exit fee or whatever that portrait is charging. Um they're giving a fee credit, so you have to basically buy I guess their fee is I think their fee is one percent.

So you have to buy like twice thousand five hundred dollars were a big line to get back uh your hundred and twenty five dollars worth of exit fee. I am。 IT IT, I would if I was this one customer, I be pretty pissed off right now. And I mean, I would just just strongly recommend that if if you are looking for an alternative uh, to consider downloading strike, I think you'll have a very good experience.

Be very fix, be where. Next up, e cashman, funded with spilman channels, the ultimate note list, lightning, while IT, this is really cool, as from luke child. And he's basically building on a concept that's been released by arc labs, the combination of lightning, a ark, new york k protocol. And now e cashman, I saw Kelly responding to this thing. It's not technical, self custodial, but IT doesn't pretty interesting.

So IT is but to call itself custody e cash is you know is is a way of selling IT, but it's it's not, you know, technically true. So so the ideas right. So if you use e cash, e cash is in herman castoga a has very strong privacy guarantees um is programmable and you can use that to make offline payments um which makes an e cash custody just strictly Better than any other custodian.

But obviously you still have custodio risk. Now the this proposal is using something called spillman en channels which predate lightning channels um and but the biggest issue with the spilman channel is that is one direction only right a lightning channel you can go back and forth um and IT has a time expiration date, right. So in the channel will automatically settle on chain after a certain amount of time.

But the benefits are that you don't have to be running a twenty four seven uh node to you know manage your lightning channels. So IT doesn't have that interactivity element um and IT still shares the similarity with lightning that you can either party can close out on chain at any time. So the ideas you keep IT in this payment channel, right, which is inherently self custody.

So it's it's a more to say with you in your counter party um or either you can go back on chain anytime you want similar to lightning. And then when IT comes time to make the payment, you on demand go into e cash. You pay into the e cash studia and that e cash stock an then goes through the built and lightning gateway to make a lightning payment.

And so in a lot of ways, this works very similar to how e cash currently works. Lightning where you could set IT up so that you have a lighting channel with a new cash gateway, a new cash custodian and just pay right into the e cash on demand and then immediately payout. Um but you do get this nice benefit of not actually having to touch lightning yourself, most still having that guarantee.

So does does that make sense? The actual e cash part is in self custody, right? It's just you're just on demand flipped through the custodian arent at at time of payment are using these spillman payment channels.

yeah. Yeah make sense.

It's kind of similar to how people are using like these liquid wallets, right? We're arrested, sits in liquid and then IT swap into a lightning payment. Um it's kind of similar to that situation and actually Kelly took a step further.

Um you could do a spillman channel on the opposite side, right? So like if you're a merchant um instead of receiving e cash, you could receive through your spoke man channel. Now the issue is it's not by directional. So I think in that situation, you probably is still Better off to having a lightning time with the gateway um and just receiving IT as a lightning payment like that is literally what people are using lightning for when they are interacting with the e cash ecosystem. But more tools the Better. Should be interesting to see if someone makes a lot like that that uses this as a concept um IT seems promising IT seems like IT could be a big win for self custody on mobile um where you can just pay out to any lightning y envoys have pretty .

straying privacy guarantees without giving up custody yeah in clarification luke child is idea is back recalling IT I believe it's been implemented as paper IT references the arc implementation of spill channel I think IT actually is is arc to .

do channel channels three days lightning and are obviously yeah you can think about IT as like so lightning is a payment channel protocol, right? It's an interactive protocol for bash pick in payments. And the beauty of lightning is that it's by direct tional, right? Then you can go in both directions. Uh, spill men channels are much simpler, but you can only go in one direction so if I set up a spilman channel to marty, I can only pay Martin. Marty can pay me to that channel um but as a result, you don't have run a lightning node and constantly you know watch for um your counterparty doing something where you have to then submit a justice transaction right which is .

how the lighting model works in reading looks description element channels like you have a predetermined lock time in his example up to a month yeah where IT .

settles on chain after that time period.

No we're lightning with the ht. I'll see a certain predetermined you need to collaborate close or adjusted transaction.

You you could have IT open a lighting channel. You can have open forever. Fees can go up and you can just have this single channel open forever.

Um but anyone who has used a self custody mobile at any wallet or has even Better tried to build one um knows there's a lot of pain points in doing that. And so there there are a lot of trade us there. While this could be relatively easy implement um and would provide I probably a pretty good user or experience.

yeah and not sure if you've seen the comments, I know they have been on youtube or naster, but many people asking us to talk about the convenience debate is going on right now. Do we need to sow fork? Do we need convenance? Do we need volts CCTV um up cat, whatever IT may be um a lot of talk around there, a lot of people ously positioning like we need convenance to scale big coin.

And I think whether it's arc in their their peace on biton virtual channels, bringing instant settlement to arc VS spilman channels or luke child um idea with the with the combination spilman channel in clashes, I can think through examples of there are still a lot of scaling solutions that could be enable today that have not been explored. Me personally, I know people feel very passionate in both directions as a pertains to the conversation around covenants and if in when they will be brought to big coin. But I I think i'm firmly in the camp of this explore as many of these scaling solutions as possible before we get to another .

software k debate. I mean, I think um. You know self works finding rough conscience s for self works has historical been incredibly difficult ah it's definite more difficult than it's ever been. Um you know the amount of stake hold amount of people that own bitcoin and have an interest in bitcoin has grown substantially.

And uh a lot of the values are different between those stakeholders, right? We have a whole new sets of stakeholders um that i've come in through etf and and obviously this is sellers uh first full cycle um being one of the larger holders in bakin. Um so that whole element, you know like the suits are here, right? And they bring a whole new value at the big coin.

So finding this rough consensus will likely be even more difficult than we've seen in the past. So I think a sult fork in general and so worked that has any kind of disagreement is is if it's even barely contentious is is incredibly unlikely. Now IT is probably more likely if there's actual you know market pressure to for a change, for a reason for a change.

And so like James are burn as recently been posting a lot about IT a bick cordia in a friend who I have great respect for um and his main argument is that uh we we we need one of these proposals to go through in order to make IT more feasible for people to to cost efficiently， have self custody um and and be able to hold their own keys. Now I think that is not a compelling argument right now because fees are still quite low like you would if I think I think there is uh there is a tendency by people, you know want things today and to plan for the future. But in these kind of distributed networks that are that are leaderless and they don't have a centralized command and control, uh, situation, which is a feature, not a bug, you need actual real pressure if there is going to be any kind of consensus for a change.

And so in this situation, that pressure would come from a sustained high free market, which we clearly have not seen. I mean, some people think maples will always clear still. Um so that's just proof in the putting uh, that I really do not think the market would demanded.

So our individual opinions on this, I think are relatively meaningless at this point of time. I personally haven't seen a proposal that I would whole hardly get behind doing like tomorrow. Um and I don't really think there's that much of a of a rush. Um I think we should be trying many different things i'm very excited about um to a thing that does not require all works because you can actually use them today, as murdy said, with like a cash and not but yeah that's my that's my two sense on the matter and I will say that um as a fund ten thirty one does not invest in companies that require software um and that's not just purely for ideological reasons. I think that's a really easy way to burn investor money because of works are incredibly unlikely going forward.

Yeah, i've said this in the past. So I think are the prospect of aron would both prominent teams working on that are collapsed in second? Her brought market is compelling in talking to the second team. They seemed like I think i've said this before, but I think arc could be a catalyst to stoke the discussion, a serious discussion around whether not cover and should get implemented into bitcoin viasoft work because I think that's pretty clear if these arc service providers are going to scale, if they get product market fit in a lot of users in use cases that they IT does have scaling limitations that would be allied by some sort of covenant being enabling the the shared U T X O model. And every whether it's high fee environment, persistently high fee environment leading to pressure or something like art developing um a big user base in finding product market fit that reaches limitations.

That's that's another avenue through where I can see a soft k discussion around convenance becoming um becoming more serious because I think the combination of art lightning e cash is really exciting for the prospects of user experience, payments and privacy. And these are all three things that need significant improvement around the coin usage himself. They get product market fit.

They reach their physical limitations. What they can scale to IT becomes obvious that we really want to read the benefits of these protocols interacting together at scale, and we need convenance. That could be another impetus for more serious discussion around this. But I think, matt, I have both an agreement right now. It's like let's try everything that we have other fingertips to, to scale this as efficient as possible before we jump headfirst into A A vigorous safford debate.

And it's important it's important to be conservative here, right? Um many people ourselves included, heavily reliant bitten. Um so let's not you know fuck IT out.

Let's be very deliberate and. Conservative about how we move forward. Um but I would I would say that um I think this this concept they're sailor controls bitcoin and decides if that happens or not. It's .

it's .

comte. It's complete fun like the the whole the whole reason the core of biton value prop is only more bitcoin does not give me more control over the network, which by the way is diametrically uh that it's the complete opposite of uh proof of state networks um and just shows how much they they ve missed the plot. So a sailor or black rock, they don't have more control over big coin. Um I will say once again probably one of my more controversial opinions, but I said at many times um if you absolutely do think that we need A A change today, anyone can hard for bitcoin.

You you do not need permission to hard for a big coin um and if you're hard for biton basic at the time in the fort, those two change share the same history but going forward they have different history um and and if so, if you're holding bick in south custody at the time of the fork, you have an equivalent amount on the original chain as you do on the fourth chain. So actual current stakeholders do not lose anything like you can literally just as much likes to say go into A A and you'll still have the same amount of bitcoin on both sides. Um but if you do have an opinion, you can sell either side.

And I I think um you know maybe some people took the wrong thing away from twenty seventeen like the big cash war was a chaotic you know living through IT. But at the end of the day um you could have just slept through the whole thing and woke up and you know your big corn is more powerful and more valuable than IT was before that there is no negative effect except for those people who decided to sell their bitcoin for a bick cash. They got right just something to draw there. And keep .

in mind really highly, this people saying got two percent was two percent of all the big coin. Pull up the medium posts from mate twenty thirty twenty seventeen pacem scaling agreement action census twenty seventeen, the medium post heard around the world. This is what LED is with the new york agreement.

And is the new york agreement?

Scroll down to the bullpen. Ts, not that. I mean, people are like sailors, about two percent. I mean, at the time, in twenty and seventeen, the the the coalition of companies and individuals backing the new york agreement that orders a magnet de more bitcoin and hatching power, the microsoft can see the bull bull points a group assigned companies represented critical mass of the bickering you go system has had made.

Twenty fifth, this group represents fifty eight companies located in twenty two countries, eighty three point to eight percent of hashing power, five point one billion U. S. B. Monthly on chain transaction volume. Keep in mind, this was one bitcoin was around a thousand dollars. So material amount of volume back in the day in twenty twenty five million bitcoin walls coalition of companies had what many would would have deemed way more influence on bitcoin at that particular point time. And if you would index for today, you would still be true compared to microstrip .

like way more than than a um I mean sailor stack right because also sailor doesn't. They were the the biggest exchanges to right in the biggest service providers and IT was bid pay. And bid pay was proposed seeing like all the merging transactions and that was IT was jhn and jhn was making the majority of asic and also controlling the majority of hash, right?

Um IT was a whole another level and they failed um and that's the value proper bitcoin. The value proper bitcoin is that it's incredibly hard to change by default and that is you incredibly strong uh, security guarantees because if you can change something very easily, then you can change IT for the worst and and and malicious changes can you know take on the network. Um so to those who there also um if you run around back then, especially with this type of conversations, it's probably to become more and more uh of the discussions is going to happen. You should read the block size war um which is written a by the guy behind bit mixed research um is probably the closest you'll get to actually living through IT in terms of of of learning from our history.

Yeah it's important are going to hear a lot of this strode out a lot of the new coiners in people that oneself off works passed saying, sailor is going to control bitcoin, Larry, things going to control bitcoin in thank even with how much bitcoin microsoft gie has accumulated, blocked rock has accumulated on behalf of their customers. As I get I think the network is so big now even these actors don't have the same amount of influence over the ecosystem that the coalition accompany is that were pushing the new york agreement in twenty seventeen head at the time.

I would also say, like if you want this discussion to be taken seriously, like IT shouldn't require an x account to participate. I think that is I might be talking my own book, but i'm glad more and more of discussion happening on noster about IT because having IT behind a log in paywall, it's kind .

of ridiculous. Not ideal, not ideal. Moving on human rights foundation story of the week coming from nicker oguma where journalists was arrested for criticizing rising cost of living.

The national police arrested nicker og when journalists Elizabeth Diana last month for criticizing the rising cost of living on his television program. Cobertas, the regime loyalist deployed twenty officers and detained Diana at his home, confiscating his equipment before taking him to notorious l chia prison. Several press freedom organisations have condemned the arbiters detention as an attack on free expression.

This arrest is the latest addition to a series of repressive measures by the sudanese regime, which has crushed independent media through shutdowns, exiles, intimidations in persecutions. Learn more about this story in others. On the weekend, we got basis, make you sign up for the human rights foundation financial freedom report news letter, which comes out every thursday morning with a financial freedom report, that org.

Late stage for up the Price, Prices go up. You complain about IT. The government says, stop complaining about its not happening, remand, prison, censorship as they lose control. Other monetary system prety pretty standard for the spot resumes.

Yeah, it's fact that I mean, I would like to see. You know I think NASA can be an incredibly powerful tool here um where you are able to um post the world anonymous ly um if you so choose and build up a reputation on that name right? So if someone starting today and they want to be a opposition journalist, um they don't have to use their legal name and over the years they will build up a verifiable reputation as someone who is you, not posting fake news and actually doing good work um and that that can empower people around the world uh that are that are dealing with these a authority, an governments who are imprisoning them for for just speaking .

the truth yeah. Equine taxes as we need a freedom .

tech man in the way for all .

of freedom money. With that we will go to the top four boost from rabbit hole recap three, thirty two, one hundred k and side still in sight. I can see IT and bugger .

nailed the name this time around all about me. Martin, what did you bring into the studio with you today?

Nothing, nothing.

Marti's got to bottle the champion next to that. Is this just in case we had hundred j din mica? I want.

is this to be a surprise? You know what?

I run IT.

We're going to get up. Everybody go special by just kidding. Tough for boost from memorial of rica. Three, thirty two, eight, nine, nine, fifty thousand sats. Stay humble stack sets.

Great advice. Appreciate your .

radio AK at open mike. Forty two thousand sats put down the turkey in gobel up tips for sats by southwest day two value for value music event in Austin I will be here. This can be a great event.

Panel discussions directed towards on boarding musicians at bitcoin commons on the ceba fifteenth in a concert with tone start live stream features nc. Adam Carry the pod father himself at anton's nightly b on december sixteen s info a WWW that sets by S W 点 com。 Be great, great sunday.

monday here next.

Couple weeks at fuji, twenty five thousand, that's another one. Meet up at wavelan boll, thirty seven hundred north western avenue, chicago, bowling for bitcoin, hanging out china and balls and grabber pitch one to five P. M. Sunday, december fifteenth. Bring the fan or friends a lot of bitcoin activity on december fifteen th chicago wave lambo, thirty seven hundred north western avenue last year at least Scott, twenty one thousand sats we can't have one hundred k til marti reads Manda .

les while really well.

we're fuck were fact dumping mart is never .

gonna marty has already yet has the chances of reading at are less than zero .

person you can't get lessens zero.

It's going in negative .

is a negative. Was with the top four boost from abbat's recapped three thirty two. Thank you guys for contributing to the show in value for value content. Again, like I said at the beginning, the show brings us immense joy that you guys get value out of this as a wipe, becoming weekend and week out to talk about the news in the space for the last six plus years. Moving over to APP that stream sea, we got any more have been slowing down a little bit.

This we appreciate all court and we appreciate you tune and weekend and week out.

I would be happy if marty could read the way paper to me. I'll read the way paper to you. My path to fire.

you do not know. You can read IT next week.

OK, mary.

did you up? Did you do step today?

I think I did this morning.

Logan pulled up. I can read IT. What does that say? Logan.

this has not.

You have not. Don't trust.

verify yet. Don't trust this websites. Bull shit.

So your ill has mary's APP. Today I come.

Did you just go on life? no. Is still liverage to stop recording. Got the rapid for .

me to pull IT down youtube again. What do you do? In fact, something upper. We don't record locally .

as much anymore. So IT IT got full because .

I wasn't thinking about IT. wow. Money to use the .

bigger computer. What about you? A, B.

you get when you bring in a power cord for IT.

I told you to let me know if you need bring IT in.

and you ask me, and I said that I need that.

You have to text me, let me hand up. I'll take full responsibility for this one.

We're going to hold you accountable. This one teen, fifteen point four eight thousand sets from drew just opted. So thank you, je, that makes IT a little bit Better that Martin logan just fucked up.

But we can just pull from youtube IT. We'll be slightly worse quality, but will be fine, should be fine. And we can probably pull up from restore and be Better quality than. We .

want to your system.

Now let's go. I need to wrap in ten minutes same .

onto the software update section of the show. Blue wallet versions seven point zero point five out becomes with a variety of new goodies, including offline imports, support, coin control, notification shortcuts and more blue wallet, great mobile wallet. If look in a self custody, I do have some feedback for the blue wall team.

If you're listening. I was talking to somebody who's using the android build on graphing and feature parity is lacking compared to I O S. versions. And there are some blue wallet graphing users out there would like you to get that wallet on a feature parity with everybody else.

Is IT just I mean, is android in general, I assume not the strafing?

I don't know, maybe android in general, trying to be specific with this particular build verin recovering is a recent the wall IT and there's like bugs when you're to put the amount of sad over a million or something like that.

Yes, I mean, unfortunate. The android lifestyles, very often we have to be behind on features from the IOS counterpart. Um of course, there's other times were able to do things that you're just not even allowed to do on I O S. So trade off, trade the way down. I will say that I think um there's a strong place in the market for a multiplatform IOS android. Uh just a really good P S P T supporting on chain wallet that just does one thing really well and keeps a really simple um and there is a team right now working on IT um working on solving this problem that is being funded by open sets.

Just fully noted .

in that fully noted. I is does a bunch of things, right? There's I I think you know the key here is is a well that is just incredibly simple um and that doesn't require you to have a note that you're running separately.

IT doesn't do can enjoy, is just interact like sparrow wallet for mobile, right? Just can interact with harbor wallets, can do PSP t does unchain only doesn't require a note or you can use IT with your own note. And there's a team, i'm bea testing right now and they're making really good progress. So hopefully will have more information on that soon. But IT is a fully open source wallet, not comfortable .

name dropping right .

now or I don't know. I mean, it's called cold .

wallet comfortable? No, I don't .

know that there are not, but IT is open source. So what later, never been doing great work.

Shout out to the team. Don't great work over there. Next up, all loss of us. All us versions zero point one point four has been updated with instagram like it's an instagram like nater client. So we've got new features, want to get checked that out like they have blossomed loads in server selection. This is problem.

Well, I S.

And he built, he should indicate about this already. Do we talked about this last week.

n decay mobile, yeah N D K mob, which also his project.

Do you want to give up on on air highlighter talk right now with .

the highlighter talk is also this project, I know.

But we were talking about IT offline this week .

when we were talking about needs .

a read feature parody with apple or something like.

oh no, I i've been giving him private feedback his all over the place he get IT together is working he's croit problem is crushing IT um it's all coming together fix it's all come together.

It's all come together. As is evident by the release of flotilla, a discord like noster client for relay based communities, this is really good to see highlights of the breath of noster people think social media or that discord, probably one of the most popular apps in the world right now. I think we miss its more of gensec thing. I use that for a journey, a few other things.

but this is.

this court is where all the kids are hanging out.

though. yes. So this is obviously an open source alternative that uses master. So the last release, all loss, is an instagram like competitor.

This a discord like pedicure, they all use this interactive, able muster protocol. You can kind of think of no star is like this, open A P. I for the world, like any developer can build on IT.

And particularly like where we currently are with all of these large aps basically going behind world gardens, IT really does empower developers in a way that's not possible otherwise. So hopefully, we will see many, many, many different types of master clients at all try and tackle different nitches and different use cases. And because they used not so they are all interrupted with each other. love. This is how this is hallow .

about way. Hello, I think both polo and .

hello about are on long term support grants out of impositions.

This is interesting here. If you read the the notes from noble shit coin, uh, the university of ideas about how different use cases should be approached is begin to emerge to their some differences, which is healthy. Um seems like love till decided not to use nip twenty nine groups because there more like telegram groups where they need something more like discord and slack workspaces. So they're going in off in designing a different type of group chat particle or implementation to to bring this to market differently.

Yeah, I mean, it's it's, uh, hello, boys, journey is quite fascinating. His main goal, he is said, uh, multiple times. I believe his main goal is to try and build something that can get his church off facebook groups because church ized and facebook groups right now for everything um and that just seems ridiculous like you couldn't need a facebook account um to to be able to interact with a fellow church.

members. A lot of what people use. Facebook for these days as facebook marketplace quasi competitors being released on later by the day is up the store or APP store more software base.

But you do have no the APP stores like an APP store competitor, APP store competitive.

But what's the other one .

i'm thinking about called shop ster? There's a couple of them yeah um but yeah I mean I I I someone was not a facebook account for a decade. Um there are two things that I feel left out by not having a facebook account. It's facebook marketplace. Lots of people are selling things on facebook marketplace um and finding and any like a million people like so many mothers have told my wife that are the best way to find a nanny's on facebook and neither was that facebook can't so we've have to do with the good old fashion way, which has been quite difficult. And masters should be to fix both what .

is a good old fashion way. Just walk around their hood .

walking up to a people that to ask you have to ask for references in like recommendations from you like friends. But you know there's attention. They're right because they don't want to give up their best annis.

No yeah so you .

always feel like people are hold not on.

Yeah to find you got to find the family whose kids are like reaching the age of like .

eleven years now yeah you're aging out.

And so you're right. Let us let us pass your na down to us, please. Speaking of sap store, the zapp store versions zero point one point six has been released, which improves background loading, fixes deemed icons, allow sending air reports and more.

I'd love this project. I'm gonna have a the the creator of APP store in the maintainer his name's friends APP easy going to come on sale dispatch next week and while on the topic of my most recent civil dispatch a was with Kelly um always with million and before that Kelly and both of those were just really great conversation so if you ever heard them, consider giving them a listen by searching service dispatch in your favorite .

protestant check IT out freeze. Last but not least, two or browser version fourteen point zero point three has been released that includes important security updates from firefox.

Yeah so if you rely on top brothers, you should update seems like .

yeah very important project. Also.

I saw some rumbling and I have not verified, but I saw some rumbling on master that firefox might be going bankrupt. Did you see this?

Aren't they foundation? I mean.

foundations can I mean run out of money? I guess maybe bankrupt is the wrong word. But I think support, there are no, see whatever. I believe there are non .

profit that would suck firefox's my daily Brown. Er.

yeah, that would be a pretty brutal for the ecosystem, but once again didn't verify IT. So who that .

knows support support very.

very about an hour before you went live .

will look into that. We will report back next week on that I am crossing my legs, had to go the bathroom and we want to keep this tight. Our families are in town. I think this was a good tight rip.

I I was a great roup. I appreciate more. I'm grateful free. I'm grateful free. Free steam, except .

because back in the in the ice box wasn't .

able to pop in. We're never going to get on your cake because you all just keep jin. I'm disappointed .

you freak from a pushing at ever. Just kidding. Love, you are piece love.