July 17, 2025 • 44 mins
Today's Articles:
https://bitcoinmagazine.com/news/foia-request-reveals-us-marshal-service-holds-nearly-29000-btc-worth-3-44-billion
https://cointelegraph.com/news/is-fomo-back-bitcoin-first-timers-buy-140k-btc-in-2-weeks
https://decrypt.co/330546/asia-emerges-as-hotspot-for-violent-crypto-crime-chainalysis
- https://www.cnbc.com/futures-and-commodities/
- https://dashboard.clarkmoody.com/
- https://mempool.space/
- https://www.bitcoinandshow.com/
- https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI
https://bitcoinmagazine.com/news/lnd-v0-19-2-released-with-key-bug-fixes-and-performance-upgrades
https://www.coindesk.com/business/2025/07/17/semler-scientific-becomes-14th-largest-public-bitcoin-holder-after-25m-btc-buy
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:04):
Coming to you live from Colorado.
Oh, yeah, baby.
Nice little rain outside.
It's nice to be high. I mean, in high altitude. Don't get me wrong. Not doing drugs up here. Nope. Nope. Nope. Nope. Nope. But
(00:26):
I am gonna get you the news because there is stuff going on. Yeah. I've been gone for a couple of days. I appreciate y'all's patience with me.
But a two day drive,
it takes a little bit of, well, it takes a little
to get back in the swing of things, man, because, you know, it's seventeen hours.
It's a seventeen hour drive. It's not even fair, honestly, man. It's just it's just not.
(00:53):
It'll take it'll it'll take a lot out of you, and especially if you do it in one shot, and I've tried doing it in one shot. It is
not for the faint hearted, by the way.
But no. Even if you do it in two days and split it up, it's a
it's a painful drive. It's beautiful. Don't get me wrong. Driving across some of the, you know, most beautiful spots of
(01:16):
these United States, but my god almighty, man.
Shit just takes it out of me. So
we've got we've got some news here,
and I have heard stories. I can't pick it. I can't for for the life of me, I just can't pick it up right now. But Bitcoin Magazine is reporting that doctor Adam Back's,
treasury company, not not Blockstream, but treasury company,
(01:40):
is going to go public. So everybody's still jumping into the game, even the United States marshals service
is here. And
this seems to be generated from low elites. Now it's written by Jenny or Jenna Montgomery over there at Bitcoin Magazine.
The
article is titled FOIA request reveals US marshals service
(02:02):
does indeed hold nearly
29,000
Bitcoin worth $3,400,000,000.
In a newly published response to a Freedom of Information Act,
request filed 03/24/2025,
the United States Marshals Service confirmed it currently holds
a total of 28,988.356
(02:26):
BTC
according to official documents
released to independent journalists.
Indeed, it's Lolita.
Hey. There you go. The full list of assets
categorized
case by case was disclosed in detailed
spreadsheet
or in a detailed spreadsheet
included in the agency's official
reply.
At the current market price of approximately 118,700
(02:50):
per coin,
this value
is roughly $3,440,000,000.
The request, which was filed earlier this year, asked
specifically for the amount of Bitcoin held
by the US Marshals Service.
The official response came in the form of a letter dated
07/15/2025
(03:11):
from the office of general counsel, noting that the records were located
within the asset forfeiture
division.
Makes sense
because it is stolen Bitcoin. While several fields in the report were redacted for security and legal reasons, the total amount of BTC was confirmed
and reported by Lola Leets.
It was also noted by Leets that a follow-up FOIA
(03:34):
request will be filed to confirm that these are the BTC managed
for the United States Marshals Service by Coinbase Prime.
Historically, the Marshals Service has been tasked with holding and liquidating seized assets,
most notably in public auctions.
While there has been no recent public announcement of any BTC liquidation,
(03:57):
the Department of Justice was cleared to sell 69,370
Bitcoin before Donald Trump took office as president in January.
Quote, US Marshals Service liquidates
assets in public auction. So unless they announced a sale,
this list should be accurate, Leeds reported, quote, total BTC holdings are 28,988.356
(04:20):
or approximately three 400,000,000
at current prices.
So this new information sheds light
on just how much The US
is actually holding in its Bitcoin reserves. Earlier this year, White House
AI and crypto czar David Sacks stated that it was estimated
that the government held about 200,000
(04:42):
BTC,
although there had never been a complete audit at the time.
So we've gone from
thinking we held 200,000
BTC,
and it's gone all the way down
to 29,000
BTC. That's kind of embarrassing.
That that's that's,
honestly, that's the kind
(05:04):
of that's the kind of bullshit that I expect from Germany,
not The United States. Come on, guys. We're way, way smarter than this. So
but we're not showing it. That's honestly,
that's disappointing. You never wanna hear about stupidity when you're on vacation.
Let's get to this one. This is also from Bitcoin Magazine
(05:26):
written by Jenna Montgomery as well. El Salvador and Pakistan leaders
meet to discuss Bitcoin. Oh, oh, yeah.
President Nayib Bukele of El Salvador
hosted Pakistan's
minister of crypto,
Bilal bin Saqib,
for a meeting focused on expanding
(05:47):
global Bitcoin collaboration.
According to the official statement, the two leaders discussed three major topics, Bitcoin mining and energy resources, the creation of strategic Bitcoin reserve,
and advancing Bitcoin education in their respective countries. El Salvador made history in 2021.
Yes. We know. First nation to declare Bitcoin worth legal, you know, legal tender, yada yada yada.
(06:10):
Beyond the financial holdings,
El Salvador is also investing in the next generation.
In April,
the Ministry of Education announced a nationwide rollout
of a Bitcoin focused curriculum titled, what is money?
Targeting students aged seven to 13.
It's part of a push that includes the me premier Bitcoin program and the
(06:33):
QBO plus university led scholarship initiative. Meanwhile,
Pakistan
has undergone a policy shift of its own.
In March,
the country announced plans to legalize Bitcoin and crypto and establish a regulatory
framework
to attract global investment. Pakistan,
quote, quote, by the way, this is a quote. Pakistan is just done sitting on the sidelines, said Saqib.
(06:58):
We want to attract
international investment because Pakistan
is a low cost,
high growth market with 60% of the population
30
years old, end quote, just weeks before today's meeting.
Pakistan's finance minister, Mohammed
Arugzeb,
and Saqib held a high profile conversation with strategy executive chairman, Michael Saylor. Oh god. The discussion centered on how Bitcoin could play a transformative role in Pakistan's economy.
(07:29):
Now Pakistan
also recently announced plans to utilize the surplus electricity for Bitcoin mining and AI data centers,
positioning itself as a new hub for digital infrastructure. The country
recently appointed Binance founder
CZ
as a strategic crypto
advisor and has entered talks with several mining farms
(07:52):
during
not farms, firms. I misread that. Firms, mining firms during the twenty twenty five Bitcoin conference in Las Vegas. Saqib made headlines
by declaring, quote, today, I will announce that Pakistan government
is setting up their own government led Bitcoin strategic reserve and this wallet, the national Bitcoin wallet. It's not for speculation or hype.
(08:17):
We will be holding this Bitcoin, and we will never
ever
sell them.
So
if you remember,
last week, I was reporting
that the International Monetary Fund had wet their diapers
over Pakistan's
proposed
Bitcoin mining scheme.
(08:40):
And now now, of course, pack both Pakistan and the IMF are saying that that that never happened.
That they were never told by the IMF to to do away and scrap their their,
mining plans with excess energy. And now we've got Pakistan rolling their happy ass over to El Salvador or wherever they met.
Did they meet in El Salvador? Hold on for a second. Let me see.
(09:03):
I don't think it ever actually ever says hold on.
They just met. It doesn't say where.
So
doesn't really matter.
Pakistan and El Salvador meet to talk about Bitcoin, and they both meet with Michael Saylor.
Okay.
I'm pretty sure that
at this point, I I just don't I don't give the international international monetary fund and the World Bank.
(09:30):
I don't give them more than ten years before they have either completely dissolved
or completely flipped on Bitcoin.
There's there's just you just can't put this genie back in the bottle. And when you've got this many, what would be considered
I
Pakistan, not really third world, but El Salvador,
third world.
(09:51):
Until recently, I I I think that they can I think we can safely say that El Salvador is no longer third world?
But
them in Pakistan shaking hands like this, alongside of Michael Saylor,
I'm I'm pretty sure the IMF is toast.
They either flip and go Bitcoin
and start praising it like everybody else is or they're going to be made completely
(10:18):
what's the word I'm looking for? Got anaphasia here. I can always remember the word anaphasia,
but I can't remember inadequate.
Nobody needs them. They don't nobody cares about the IMF anymore. That's that's whatever word that is, that's the word that I'm looking for. If
in the next ten years, they haven't completely flipped on Bitcoin, I will eat my hat.
(10:39):
Onto this one,
it seems that the radical dip from twin almost 20 what? A 124,000
back down to a 115
or so, something like that, which, by the way,
happened while I was on the road. I went I went to bed at a hundred and twenty three four,
(11:01):
and I woke up, and I got in the car, started driving.
By the time I got to the hotel room,
the fat lady had sung.
Right? So I'm chilling out in Morgan, Utah,
and I look at my phone and I'm like, son of a bitch. You you really?
You couldn't hold a 120?
But apparently, it didn't matter.
(11:23):
It doesn't matter. Is FOMO back?
Bitcoin first time buyers
have bought a 140,000
Bitcoin in two weeks.
Check it out from Cointelegraph. Who's writing it? None other than William Sueberg.
Bitcoin FOMO was slowly coming back as new buyers up their stakes by a 140,000
(11:44):
BTC.
New research from on chain analytics firm Glassnode uploaded to x on Thursday reveals
how fresh capital entered Bitcoin markets.
Bitcoin retail interest had hit the headlines throughout 2025,
but for the wrong reasons,
mainstream buyers stayed away despite the price frequently hitting new highs above a 100,000.
(12:06):
Glassnode's latest figures suggest that the trend is finally starting to shift. Quote, over the past two weeks,
the supply held by first time BTC buyers
rose by 2.86%
climbing from 4,700,000.0
to $4,900,000.
Fresh capital has entered the market.
(12:27):
BTC USD hitting all time highs above a 123,000
sparked frenzied investor behavior
across newer and older cohorts as Cointelegraph reported. Short term holders
now have an aggregate cost basis of above $100,000
for the first time ever.
Glassnode's cost basis heat map shows buyers stepping
(12:50):
stepping in aggressively during this week's BTC price dip
below a 116,000.
That's over $23,000,000,000
in value added near the local top,
signaling strong conviction and possible positioning for further upside.
It told ex followers after a 196,600
(13:11):
Bitcoin was bought up between 116,000
and a $118,000.
Data from Google Trends
shows a modest uptick in search activity for Bitcoin over the past two weeks, But compared to five year historical data, mainstream FOMO is distantly or rather distinctly lacking. Oh, no. We're all gonna die.
(13:33):
In some
of its latest x analysis, research firm, Santiment,
suggested that interest among those retail investors who did pay attention are already shifted to altcoins
because they're stupid,
quote, with the theory of leading the way. There's been a huge jump in social media mentions
of many altcoins
(13:54):
and higher price targets, quote, with Monday
Monday's Bitcoin all time high leading to mass retail FOMO
leading to the top. The mass FOMO has shifted to Ethereum today
with
$4,000
price calls across x, Reddit, and Telegram.
You're all stupid.
(14:14):
You're all dumb.
I'd I'd
there's this metric out here.
Oh, Google Trends. Google search let's see how many people are searching for Bitcoin, and somehow or another, that number
means Bitcoin is good or Bitcoin is bad.
I mean, honestly,
I think everybody knows what Bitcoin is or that have heard the name.
(14:39):
And
I I just I don't see the Google Analytics metric being of any value whatsoever.
So what?
Well, there's not as there's not as many people looking for Bitcoin today on on Google. So what?
I I honestly don't get where anybody
thought that that metric was ever gonna tell you anything,
(15:02):
except, I don't know, land you in a pile of mud, which you can quickly clean off with SoapMiner and his handmade tallow soaps. Circle p is open for business. Circle p is where I bring plebs just like you with goods and services for sale
to plebs just like you who might want to buy said goods and services and buy it for Bitcoin. Because if you're not buying it in Bitcoin or you're not selling it in Bitcoin,
(15:27):
you sure as hell ain't using the Circle p
handmade tallow soap. I love this soap so much. My wife loves this soap so much that she actually brought a bar of soap miner soap with us on vacation. Why?
Because it's that good.
I'm never buying I'm never buying soap from a store again. I'm I'm done. I wash my hair with it.
(15:51):
It did okay. This isn't soap. Let me tell you what this stuff really is from soap miner at you can go get it all at soapminer.com.
It's not soap.
What it is is it's soap,
it's shampoo,
it's hair conditioner,
it's skin cream,
and it's shaving cream,
all in one bar.
(16:12):
We don't you don't need five different products anymore, ladies and gentlemen. You could just wash your hair with it, and it it's shampoo and conditions at the same time. Why? Because it's using a 100% beef tallow,
and there's no parabens in it or any of that other crap.
In fact, one of my favorite soaps that SoapMiner makes is rough cut tallow. It has three ingredients,
(16:35):
fat,
lye, and water.
This is the way soap is supposed to be. And when you use the code Bitcoin and you get 10% off, let me make sure about that. I don't wanna because I am in I am in different environs.
I've gotta go back. I gotta make sure that I'm not talking out of my ass here. Hold on.
(16:55):
Oh, no. No. No. No. Failed open.
Why?
Hold on. I oh, good lord. Okay. I'm not gonna say anything.
I think there's a discount with SoapMiter, but I'm not I'm not exactly sure.
And the reason is is that my hard drive my external hard drive just accidentally detached from my Obsidian
note taking app, which is where I keep where which is where I do all my stuff.
(17:20):
And this is where I also keep all my vendor information. So
but make sure you use the code Bitcoin and why? Because this is value for value advertising. Nobody does it the way that I do it. I don't charge for ads.
Right? I and I also don't I'd I'd I'd not like
reselling or or trying to advertise for, like, huge companies.
(17:41):
I like pleb made goods.
These plebs make stuff that is the best stuff on the face of the planet, and I've got them all here inside
the circle p. Make sure you use Bitcoin and because that way SoapMiner knows that I sold your I sold his soap to you,
and he's gonna wanna get me back with Satoshis on the backside. That's how value for value advertising works.
(18:03):
It may not be the best idea I've ever had, but I love the circle p. Go to soapminer.com.
Use Bitcoin and as a code. Now on to Asia
is emerging in crypto, but not in the way that you want.
Asia emerges as a major hot spot for violent crypto crime,
(18:24):
and this is according to Chainalysis.
So this is violent crime. Right? This isn't like money laundering or shit. Chainalysis usually does that kind of stuff.
Let's
see how the hell Chainalysis
is doing anything
at all that tells us about violent crime.
Vince d Aquino is writing for Decrypt.
(18:45):
Asia is emerging as the epicenter of an unprecedented,
unprecedented, ladies and gentlemen,
an unprecedented
surge in crypto related crime with the region experiencing
record breaking digital heists
and a concerning increase
in real world physical violence targeting crypto holders.
(19:06):
The midyear update published by Chainalysis on Thursday shows that the Asia Pacific region now ranks
second for Bitcoin thefts,
While North America leads in total theft, oh, great. Asia
stands out for its mix of state backed hacks, violent attacks, and complex laundering networks.
(19:26):
Japan, Indonesia, and South Korea rank among the top countries
for victim counts with the region as a whole placing third in Ethereum losses.
The region's
crime or crypto crime ecosystem has spiraled into a complex web
where, you guessed it, North Korean hackers
(19:47):
execute billion dollar heists, organize crime syndicates, kidnap executives for ransom,
and local financial platforms serve as unwitting
conduits
for laundering stolen funds.
For instance, the 1,500,000,000.0
Bybit hack linked to North Korea is the industry's largest and shows the scale of state linked threats in the region. Quote,
(20:11):
illicit actors could attempt to launder
and potentially off ramp funds
through any service with sufficient liquidity, Eric Jardine, cybercrime research lead at Chainalysis, told Decrypt.
Asked about regional patterns in how crypto crimes affect trust among Asian communities,
Jardine told Decrypt that it lacks systemic
(20:33):
data on the issue. Quote, negative
events can absolutely affect people's sense of trust.
So it stands to reason that prolific crypto hacks might undermine sentiment towards crypto assets, he said,
adding that factors like user behavior, cause of theft, law enforcement response
also shape public reaction.
(20:54):
Chainalysis
pointed to a high profile murder of Chinese Filipino steel magnate
Anson Key, which is or q, possibly.
Q u e is how it's spelled. I'll just say q. Anson q as a case that highlights just how crypto and violent crime increasingly overlap.
The case exemplifies a broader
(21:15):
pattern across Asia where, quote, wrench attacks or physical violence
done to access crypto holdings have surged alongside Bitcoin price movements.
In March,
Q and his driver were abducted,
in Bulacan
or no. Sorry. Bulacan
province where their bodies, oh god,
(21:36):
later discovered, bound, and assaulted
in neighboring Rizal.
Q's kidnappers allegedly used junket operators and crypto payment channels to collect a ransom
according to Chainalysis coordinated
effort with Filipino
police.
It also worked with Tether to freeze a portion of the ransom that was held in USDT.
(21:57):
Authorities initially believed the ransom totaled
20,000,000
Filipino dollars, and I'm not sure if that's what it's called. It's just like a little p with three marks through it. But later confirmed
that 200,000,000
Filipino dollars, about 3,500,000.0
US, was laundered into crypto through casino,
e wallets, and shell accounts, and the tragic loss
(22:21):
of Q and Pubilo or Pubillo,
his associate,
reminds us of the real human cost behind these crimes according to Chainalysis.
Still, Chainalysis argues
that the case shows how the immutable nature of blockchain technology can serve as a powerful tool for justice,
ensuring that those who exploit
(22:42):
others cannot simply disappear into the digital shadows.
Recognizing
the security challenges facing Asia's crypto ecosystem, Jardine told Decrypt
that while limited awareness of threats and unavailability
of tools are clearly a challenge, the industry must act.
Quote, the industry or the ecosystem as a whole
(23:04):
has a responsibility
to try to improve everyone's access to crypto
while ensuring that they can do so effectively
and with minimal
risks.
So the crime goes up. And in the midst of it,
people are still trying to sell
shirts
and hats
(23:25):
and socks and shoes and pants and coat jackets and whatever
that firmly identify you as somebody who's interested in crypto.
Mostly that swag is is Bitcoin based.
I honestly don't see a whole lot of Ethereum based crap out there.
It doesn't matter what you're into.
(23:45):
Do not advertise that you might be interested in crypto because guess what?
Somebody who's gonna be violent to somebody when they know they have crypto
is not going to suddenly
not, you know, just leave you alone if they don't know that you have crypto.
They're gonna they're gonna go plumb that well, dude.
(24:06):
Do not wear Bitcoin swag.
Don't wear any crypto swag. I I literally, I don't care if you're if you're a a ripple head.
Stop
wearing
anything that identifies you as somebody who could potentially
hold
Bitcoin or anything else. It's not good for your health.
(24:27):
Now let's go ahead and run the numbers. I got CNBC
here up in front of me, and oil is up point 4%,
but chilling out the basement bargain level of $66.65
a barrel. Brent Norsey is up point one five to $68.62.
Natural gas in a rare form
is actually in the green too. Usually, it's red when oil is up, but it's up one and third to $3.59
(24:54):
per thousand cubic feet. Gasoline is up point 2%
to $2.14.
Gold is down point eight five
to $33.30
and 5 dime. Silver is down a third. Platinum is the only shiny metal rock in the green. It's up a quarter.
Copper is down a point, and palladium is down almost a point as well.
(25:15):
Ag is fully mixed today. The biggest winner is sugar, point 72% to the upside. The biggest loser is chocolate.
Five and a quarter points to the downside. Meanwhile, live cattle is down point four. Lean hogs are up point eight. Feeder cattle are down
point 2%.
Indices
look okay
(25:36):
today. Dow is up point 4%. Nasdaq is up a third.
S and P is up a quarter, and the S and P Mini is up over a half.
And people are using Bitcoin today. I can tell by the mempool, but first, we've got Clark Moody's dashboard
where all I can really tell you is that the price is at a $118,700
(25:57):
per coin.
We have a $2,360,000,000,000
market cap, and let's see what's gold doing. We can get 35.4
ounces of shiny metal rocks with our one Bitcoin of which there are 19,893,425.83
of.
And how many blocks are there today?
(26:20):
Wow. We've got a we've got a pretty decent size men pull here today. We've got, like, all of
shit. 12 blocks
waiting to clear carrying 32,000
unconfirmed transactions.
High priority rates are 4 Satoshis per v byte. Low priority is the same
for Satoshis per v byte.
And
(26:40):
mining is at hash rates at 300. No. Good lord. Sorry. Nope. 913.9
exahashes per second. So that dip in hash rate
has almost completely evaporated. We are back in full swing. And from
let's see. What was the what was the liquid I can't I I I do not know
(27:02):
where these boost came in from because I'm on a different computer
and things are acting differently when I'm looking at my fountain thing. Just just
stay with me. Progressively worse with 8,888
sats says,
here's the missing sats that didn't go through with the boost.
Okay. Yeah. Now now I see it. Boaz with four fifty says, please add abcwebdesigns.com
(27:27):
to the circle p.
Hey. Visit abcwebdesigns.com.
That's abcwebdesigns.com.
I don't know anything about it, but I'll definitely look into it, Boaz.
Now here it is for progressively worse. This apparently is the 8,888
sats that didn't go through the first time. He says another thought.
(27:47):
The value that could come from Project Cathedral is like how you described being a soil nerd. The depth and complexity are unfathomable.
You could dig and dig and still uncover new connections and associations that you thought had no correlation to each other.
One layer of depth and value that the vault idea or something similar could provide is this, quote,
(28:10):
the diversity of project levels that could be shared.
Clear as mud. Right? Example, level one. Have a low budget tutorial on how to create a unit for
char, I've guessed in biochar,
that I'm going to put on Maastricht. Simple, cheap, and a vast amount of people could replicate the unit to create char.
(28:30):
They could then
charge it with biology and boom, they have a simple unit to produce biochar.
Level two,
the next person has a unit that or hold on. The next person has a unit
they use that's more complex. They could create a tutorial on their own device and set up
maybe the second level unit cost a $100 in total. It's a little more complex, but more efficient in the carbonization of biomass. Yeah. And then we go to level three. Yet again, a more complex unit tutorial provided, but this unit includes a part to capture wood vinegar,
(29:07):
gaining two products out of one unit, etcetera, etcetera.
This might help people form an anchor point around options on how to start creating local products.
Their decision would be based on their monetary situation, resources available to to them locally,
and their drive to produce,
then they could visualize the next step that they could take in their journey to reach the next level if they so choose.
(29:32):
I don't know what you started, but I'm here for it. Safe travels,
d. Thank you, man. I appreciate that.
Yeah. You're you're right.
It's
I think you're more clear than you think you are.
I I understand what you're trying to say. Now
will Obsidian
(29:52):
do that?
Like I said, man, I've been on the road for two, you know, like well, yesterday, I just did nothing
except be here at at at the house,
looking at trees,
listening to birds, watching my dog chase chipmunks, and watching little bunny rabbits and shit skitter across the road. That's all I wanted to do.
(30:14):
So I haven't looked into anything yet, but I promise you I will. Perma Nerd with two ten says, I use sync thing to sync Obsidian across devices.
This may be an option
for a collaborative
vault. Something may need to be built out to scale it, but it could be a start. Start. I'm happy to help test any solutions that are brought forth.
(30:37):
Okay. That I think we've got enough people interested in this. Aaron Joel, a 172
sat says, AgFi. Love it.
Turd in the punch bowl with 500 says,
what are the odds that James Wynne was
staked
or hold on. What are the odds that James Wynne was staked the money he gambled on hyper fluid as a form of promotion? Oh,
(30:58):
this happens in online casinos
all the time where streamers, influencers are given the money to gamble with on the platform,
thus resulting in no loss for either the exchange
or win, but lots of exposure
slash publicity.
I I have no problem with that theory.
(31:19):
It would not surprise me in the least.
What's odd is terminating his x account,
but that's another story altogether.
I guess what we'd
if we were to look back in at James Wynne's, you know, x history, if we could, like, when did how well was he known? When did he get well known?
(31:41):
If it was a very short ramp up to having hundreds of thousands of followers to the point that you're starting to get in you know, you're getting into, like, the Bitcoin magazine stuff,
you're getting your name mentioned there,
then chances are very, very good that this theory is correct.
If he did it over a long period of time and it took like a like, freaking forever for him to actually, you know, do that, then maybe not so much. But I have no problems at all with
(32:09):
this theory, their turd in the punch bowl. Psyduck with seven thirty three says
Psyduck in God's death was 69.
60 nine says, thank you, sir. No.
Thank you. And I think that that's the last one for the last show, but
if I'm wrong and I didn't read your note, nothing personal.
(32:30):
I'm I'm
reaching for straws over here in my makeshift studio.
Part two of the news you can use, house clears key crypto bills for a final vote after a record nine hour standoff. This
apparently happened while I was away.
This is decrypt and it's written by Vismaya v.
(32:54):
The house of representatives
narrowly passed
house resolution five eighty with a 217
to 212 vote on Wednesday,
reviving the path forward for three major crypto bills after a record breaking procedural standoff that stretched nearly ten hours.
Eight conservative Republicans who initially blocked the legislation on Tuesday switched sides
(33:17):
after house leadership agreed to attach the anti
CBDC
surveillance
state act
to the National Defense Authorization
Act,
ensuring the prohibition would pass with the must pass defense bill. Wow. Holy shit.
That's kinda huge.
Quote, attaching the anti CBDC
(33:39):
surveillance
state act to the NDAA
will ensure unelected
unelected
bureaucrats are never ever allowed to trade Americans' financial privacy
for a communist Chinese style surveillance tool, house majority whip Tom Emmer wrote on x.
This now clears the path for final votes on three major bills,
(34:01):
the stablecoin
regulating genius act,
the Market Structure Clarity Act, and the Anti CBD Surveillance
State Act itself. The vote has sparked optimism
within the crypto industry
with supporters saying it provides much needed clarity for the industry. Quote,
regulatory uncertainty has been the single largest deterrent
(34:25):
for major institutions.
Stephen Goldfeeter
wow. What a name. Stephen Goldfeeter,
CEO of Offchain Labs and creator of Arbitrum, Toll Decrypt, quote, a legislative framework
finally signals to the market that this technology is here to stay,
that it deserves real governance,
and that participation
(34:45):
can happen within a trusted structure.
Why are all these people the same
ball of shit that we've been dealing with for centuries?
What is the fascination with centralized shit?
Because it's more efficient?
You know what's you know what's efficient?
CAFOs.
Confined animal feeding operations
are highly efficient.
(35:08):
Go visit one
and see how much you like it. Anyway, the breakthrough came after Donald Trump called in at a final moment
of negotiations
and expressed satisfaction with the deal hammered out in house speaker Mike Johnson's office as per a political report.
House majority leader Steve Scalise,
(35:29):
Thursday's scheduled
listed the crypto bills under legislation considered pursuant to a rule, meaning
the bills are now officially ready for final floor votes
under the terms set by the procedural
rule that just passed.
The Genius Act is scheduled for a floor vote today,
(35:49):
Thursday,
and could become the first major crypto bill
ever signed into law while the Clarity Act vote may be pushed on to early next week.
Quote, this is a significant win for the American people as a government controlled digital currency
poses a direct threat to financial privacy and economic freedom, said representative Andy Harris.
(36:11):
The agreement satisfied most Republican concerns,
though
representative
Marjorie Taylor Greene maintained her opposition
despite party pressure. Quote, I am not voting for the mark of the beast system.
Totally happy and content
being 1000%
no, she tweeted earlier,
(36:31):
remaining one of the few
GOP holdouts. And I don't understand. Why would she hold out?
They're they're saying no to the CBDC.
Why
I don't think Marjorie understands what that vote was,
which is kinda scary, but
whatever. On on Tuesday,
the house had voted nine a 196 to 223
(36:55):
against advancing the rule with 12 Republicans defecting and objecting to the Genius Act's perceived ambiguity
on CBDCs.
Following that defeat, Trump summoned the holdouts
to the White House and announced that he convinced them all to support the measure.
The Wednesday proceedings saw an initial vote that appeared to succeed at 215
(37:15):
to 211,
only for the same Republican holdouts to retract their support and leave the house floor for prolonged
negotiations with party leadership.
What a bunch of douchebags.
Sorry. I probably shouldn't say about that, about the leadership of The United States because it makes me anti American, doesn't it?
Yeah.
(37:36):
Yeah. That that's how it started with Britain. Okay. So Marjorie Taylor Greene, I and I guess some other people think that the anti CBDC bill
isn't strong enough,
and may maybe that's what she's saying.
Honestly,
it's that one's way above my pay grade.
It really is. And I'm not gonna go read
(37:58):
I'm not gonna go read that act.
I'm not even gonna give it to to to chat GPT and and say give me a bullet point list of all the important shit. I'm not even gonna do
that. Any steps at all that hinder,
hamper, or otherwise impede
a central bank digital currency in The United States,
I am all fucking for it. I'm just all for it. And I I
(38:22):
I don't know. It just seems weird
that she's holding out.
Whatever. It it passed anyway. So
we're gonna end up with anti CBDC legislation
firmly seated inside the NDAA.
I honestly think it's a good thing, and so is this.
LND version zero point one nine point two has been released with key bug fixes and performance upgrades.
(38:49):
Tuesday
god. Tuesday.
Today, a new version of the Lightning Network daemon
version zero point one nine point two has been released.
This update focuses primarily
on bug fixes and
performance issues.
Some of the major fixes include a bug that caused missed payment confirmations
shit. A rare issue that could freeze the node during startup
(39:13):
and a memory leak
that made the software use more resources over time. It also fixes
crashes that could happen when the node was starting up in certain modes or handling backups.
The release includes an optional migration
to reduce the size of the decayed
log database,
(39:33):
which helps lower disk and memory usage.
The cleanup runs automagically
unless turned off in the settings. Quote, this migration is optional, but turned on by default,
stated the release notes. If you encounter issues, you can opt out by migrating,
or opt out of the migration by setting
(39:54):
no g c decayed log equal to true in the configuration file.
This migration does not prevent downgrading to earlier version 0.19
x beta versions.
Other changes include better handling of peer to peer connections, improved tracking of payments and logs, and more accurate fee calculations.
(40:14):
This all sounds good. I can't wait to upgrade my node with that.
So
on to the last one of the day,
I've got this one. Similar Scientific
has now become the fourteenth largest public Bitcoin holder
after a $25,000,000
Bitcoin
purchase.
That's according to Francisco Rodriguez, who's writing this one for CoinDesk.
(40:38):
Similar Scientific has added 210 more Bitcoin
to its balance sheet, acquiring the additional coins from July 3 through July 16
for $25,000,000
or an average price of a $118,974.
The firm now holds 4,846
(40:59):
BTC
worth $575,000,000
according to regulatory filing.
The stack was acquired
for a total of $455,000,000
or an average price of $93,890.
So there you go. Similar has now jumped to the fourteenth largest
(41:19):
Bitcoin treasury
company.
It's not going away, guys. It's just not. They tried to kill us a couple of days ago. They couldn't. We're back up to where we were.
Pakistan
and and freaking El Salvador
are shaking hands and becoming friends.
I can't I was thinking about this when I was putting dishes away last night.
(41:42):
You know, it's it's always said that Bitcoin
is the shelling point.
And for those of you who don't know what the shelling point is, it's it's a fascinating concept.
If you the it's
it kinda ends up being kinda confusing, but the way that it's best described is this. If you had to meet somebody if you're going to New York City and you had to meet somebody in New York City and yet you didn't have a phone,
(42:08):
you had no way to access any kind of communication to talk to that person to let them know that you're going to be in town
and that you need to meet somewhere,
where would you most likely choose to meet that person? Where do you think that they would go? Because they know you're coming, but they don't know where you're gonna go, and they don't know what time you're arriving. They just have a rough idea
(42:30):
that you're get where would you go?
And they always say, Grant, the the giant clock in the lobby, the the main hall of Grand Central Station, New York City.
I that's a shelling point.
So I started thinking about it last night. I'm thinking about the shelling point because I always say Bitcoin is the shelling point.
(42:51):
What does that actually mean?
You know how many of the greatest
people that I've ever met in my life, and I haven't even real met most of y'all in person,
But, like, guys like SoapMiner.
I'm not I'm not gonna just accidentally run across this guy in Midland, Texas or Lubbock, Texas or Eastern Washington.
(43:13):
No. We met because
we were at
Grand Central Station.
We were waiting for each other, and we didn't even know we were waiting for each other. Same thing with Great Ghee, one of my other Circle p vendors.
You know, I have a great admiration for the winemaking
skills
of Ben Jessman
(43:34):
over at Peony Lane Vineyards.
You I mean, I there and there's so much more. There's so many people
that I know are good people. They talk about time preference. They talk about waiting. They talk about patience.
They talk about, you know, never giving a shit about economics before. Now they know more economics than most economics professors.
(43:57):
Right? These are the people that you want to hang out with.
These are the people you you can trust your property with them. Not every single one of them. Sure. There's probably a, you know, there's probably a couple of dickheads out there. I don't know, though.
All the people that I've met
at the shelling point that is Bitcoin
are the people that I've always wanted to meet.
(44:17):
That's the point.
And they're smart, and they're, like, just
100%
want to change the world because they're sick and tired of the crap that they see.
That's why Bitcoin is the actual shelling point. So with that said, I'm not gonna drag it out.
I'm gonna go ahead and and let it go, and I will see you on the other side.
(44:41):
I'm just saying, I'm gonna see you on the other side.
Coming to you live from Colorado.
Oh, yeah, baby.
Nice little rain outside.
It's nice to be high. I mean, in high altitude. Don't get me wrong. Not doing drugs up here. Nope. Nope. Nope. Nope. Nope. But
(00:26):
I am gonna get you the news because there is stuff going on. Yeah. I've been gone for a couple of days. I appreciate y'all's patience with me.
But a two day drive,
it takes a little bit of, well, it takes a little
to get back in the swing of things, man, because, you know, it's seventeen hours.
It's a seventeen hour drive. It's not even fair, honestly, man. It's just it's just not.
(00:53):
It'll take it'll it'll take a lot out of you, and especially if you do it in one shot, and I've tried doing it in one shot. It is
not for the faint hearted, by the way.
But no. Even if you do it in two days and split it up, it's a
it's a painful drive. It's beautiful. Don't get me wrong. Driving across some of the, you know, most beautiful spots of
(01:16):
these United States, but my god almighty, man.
Shit just takes it out of me. So
we've got we've got some news here,
and I have heard stories. I can't pick it. I can't for for the life of me, I just can't pick it up right now. But Bitcoin Magazine is reporting that doctor Adam Back's,
treasury company, not not Blockstream, but treasury company,
(01:40):
is going to go public. So everybody's still jumping into the game, even the United States marshals service
is here. And
this seems to be generated from low elites. Now it's written by Jenny or Jenna Montgomery over there at Bitcoin Magazine.
The
article is titled FOIA request reveals US marshals service
(02:02):
does indeed hold nearly
29,000
Bitcoin worth $3,400,000,000.
In a newly published response to a Freedom of Information Act,
request filed 03/24/2025,
the United States Marshals Service confirmed it currently holds
a total of 28,988.356
(02:26):
BTC
according to official documents
released to independent journalists.
Indeed, it's Lolita.
Hey. There you go. The full list of assets
categorized
case by case was disclosed in detailed
spreadsheet
or in a detailed spreadsheet
included in the agency's official
reply.
At the current market price of approximately 118,700
(02:50):
per coin,
this value
is roughly $3,440,000,000.
The request, which was filed earlier this year, asked
specifically for the amount of Bitcoin held
by the US Marshals Service.
The official response came in the form of a letter dated
07/15/2025
(03:11):
from the office of general counsel, noting that the records were located
within the asset forfeiture
division.
Makes sense
because it is stolen Bitcoin. While several fields in the report were redacted for security and legal reasons, the total amount of BTC was confirmed
and reported by Lola Leets.
It was also noted by Leets that a follow-up FOIA
(03:34):
request will be filed to confirm that these are the BTC managed
for the United States Marshals Service by Coinbase Prime.
Historically, the Marshals Service has been tasked with holding and liquidating seized assets,
most notably in public auctions.
While there has been no recent public announcement of any BTC liquidation,
(03:57):
the Department of Justice was cleared to sell 69,370
Bitcoin before Donald Trump took office as president in January.
Quote, US Marshals Service liquidates
assets in public auction. So unless they announced a sale,
this list should be accurate, Leeds reported, quote, total BTC holdings are 28,988.356
(04:20):
or approximately three 400,000,000
at current prices.
So this new information sheds light
on just how much The US
is actually holding in its Bitcoin reserves. Earlier this year, White House
AI and crypto czar David Sacks stated that it was estimated
that the government held about 200,000
(04:42):
BTC,
although there had never been a complete audit at the time.
So we've gone from
thinking we held 200,000
BTC,
and it's gone all the way down
to 29,000
BTC. That's kind of embarrassing.
That that's that's,
honestly, that's the kind
(05:04):
of that's the kind of bullshit that I expect from Germany,
not The United States. Come on, guys. We're way, way smarter than this. So
but we're not showing it. That's honestly,
that's disappointing. You never wanna hear about stupidity when you're on vacation.
Let's get to this one. This is also from Bitcoin Magazine
(05:26):
written by Jenna Montgomery as well. El Salvador and Pakistan leaders
meet to discuss Bitcoin. Oh, oh, yeah.
President Nayib Bukele of El Salvador
hosted Pakistan's
minister of crypto,
Bilal bin Saqib,
for a meeting focused on expanding
(05:47):
global Bitcoin collaboration.
According to the official statement, the two leaders discussed three major topics, Bitcoin mining and energy resources, the creation of strategic Bitcoin reserve,
and advancing Bitcoin education in their respective countries. El Salvador made history in 2021.
Yes. We know. First nation to declare Bitcoin worth legal, you know, legal tender, yada yada yada.
(06:10):
Beyond the financial holdings,
El Salvador is also investing in the next generation.
In April,
the Ministry of Education announced a nationwide rollout
of a Bitcoin focused curriculum titled, what is money?
Targeting students aged seven to 13.
It's part of a push that includes the me premier Bitcoin program and the
(06:33):
QBO plus university led scholarship initiative. Meanwhile,
Pakistan
has undergone a policy shift of its own.
In March,
the country announced plans to legalize Bitcoin and crypto and establish a regulatory
framework
to attract global investment. Pakistan,
quote, quote, by the way, this is a quote. Pakistan is just done sitting on the sidelines, said Saqib.
(06:58):
We want to attract
international investment because Pakistan
is a low cost,
high growth market with 60% of the population
30
years old, end quote, just weeks before today's meeting.
Pakistan's finance minister, Mohammed
Arugzeb,
and Saqib held a high profile conversation with strategy executive chairman, Michael Saylor. Oh god. The discussion centered on how Bitcoin could play a transformative role in Pakistan's economy.
(07:29):
Now Pakistan
also recently announced plans to utilize the surplus electricity for Bitcoin mining and AI data centers,
positioning itself as a new hub for digital infrastructure. The country
recently appointed Binance founder
CZ
as a strategic crypto
advisor and has entered talks with several mining farms
(07:52):
during
not farms, firms. I misread that. Firms, mining firms during the twenty twenty five Bitcoin conference in Las Vegas. Saqib made headlines
by declaring, quote, today, I will announce that Pakistan government
is setting up their own government led Bitcoin strategic reserve and this wallet, the national Bitcoin wallet. It's not for speculation or hype.
(08:17):
We will be holding this Bitcoin, and we will never
ever
sell them.
So
if you remember,
last week, I was reporting
that the International Monetary Fund had wet their diapers
over Pakistan's
proposed
Bitcoin mining scheme.
(08:40):
And now now, of course, pack both Pakistan and the IMF are saying that that that never happened.
That they were never told by the IMF to to do away and scrap their their,
mining plans with excess energy. And now we've got Pakistan rolling their happy ass over to El Salvador or wherever they met.
Did they meet in El Salvador? Hold on for a second. Let me see.
(09:03):
I don't think it ever actually ever says hold on.
They just met. It doesn't say where.
So
doesn't really matter.
Pakistan and El Salvador meet to talk about Bitcoin, and they both meet with Michael Saylor.
Okay.
I'm pretty sure that
at this point, I I just don't I don't give the international international monetary fund and the World Bank.
(09:30):
I don't give them more than ten years before they have either completely dissolved
or completely flipped on Bitcoin.
There's there's just you just can't put this genie back in the bottle. And when you've got this many, what would be considered
I
Pakistan, not really third world, but El Salvador,
third world.
(09:51):
Until recently, I I I think that they can I think we can safely say that El Salvador is no longer third world?
But
them in Pakistan shaking hands like this, alongside of Michael Saylor,
I'm I'm pretty sure the IMF is toast.
They either flip and go Bitcoin
and start praising it like everybody else is or they're going to be made completely
(10:18):
what's the word I'm looking for? Got anaphasia here. I can always remember the word anaphasia,
but I can't remember inadequate.
Nobody needs them. They don't nobody cares about the IMF anymore. That's that's whatever word that is, that's the word that I'm looking for. If
in the next ten years, they haven't completely flipped on Bitcoin, I will eat my hat.
(10:39):
Onto this one,
it seems that the radical dip from twin almost 20 what? A 124,000
back down to a 115
or so, something like that, which, by the way,
happened while I was on the road. I went I went to bed at a hundred and twenty three four,
(11:01):
and I woke up, and I got in the car, started driving.
By the time I got to the hotel room,
the fat lady had sung.
Right? So I'm chilling out in Morgan, Utah,
and I look at my phone and I'm like, son of a bitch. You you really?
You couldn't hold a 120?
But apparently, it didn't matter.
(11:23):
It doesn't matter. Is FOMO back?
Bitcoin first time buyers
have bought a 140,000
Bitcoin in two weeks.
Check it out from Cointelegraph. Who's writing it? None other than William Sueberg.
Bitcoin FOMO was slowly coming back as new buyers up their stakes by a 140,000
(11:44):
BTC.
New research from on chain analytics firm Glassnode uploaded to x on Thursday reveals
how fresh capital entered Bitcoin markets.
Bitcoin retail interest had hit the headlines throughout 2025,
but for the wrong reasons,
mainstream buyers stayed away despite the price frequently hitting new highs above a 100,000.
(12:06):
Glassnode's latest figures suggest that the trend is finally starting to shift. Quote, over the past two weeks,
the supply held by first time BTC buyers
rose by 2.86%
climbing from 4,700,000.0
to $4,900,000.
Fresh capital has entered the market.
(12:27):
BTC USD hitting all time highs above a 123,000
sparked frenzied investor behavior
across newer and older cohorts as Cointelegraph reported. Short term holders
now have an aggregate cost basis of above $100,000
for the first time ever.
Glassnode's cost basis heat map shows buyers stepping
(12:50):
stepping in aggressively during this week's BTC price dip
below a 116,000.
That's over $23,000,000,000
in value added near the local top,
signaling strong conviction and possible positioning for further upside.
It told ex followers after a 196,600
(13:11):
Bitcoin was bought up between 116,000
and a $118,000.
Data from Google Trends
shows a modest uptick in search activity for Bitcoin over the past two weeks, But compared to five year historical data, mainstream FOMO is distantly or rather distinctly lacking. Oh, no. We're all gonna die.
(13:33):
In some
of its latest x analysis, research firm, Santiment,
suggested that interest among those retail investors who did pay attention are already shifted to altcoins
because they're stupid,
quote, with the theory of leading the way. There's been a huge jump in social media mentions
of many altcoins
(13:54):
and higher price targets, quote, with Monday
Monday's Bitcoin all time high leading to mass retail FOMO
leading to the top. The mass FOMO has shifted to Ethereum today
with
$4,000
price calls across x, Reddit, and Telegram.
You're all stupid.
(14:14):
You're all dumb.
I'd I'd
there's this metric out here.
Oh, Google Trends. Google search let's see how many people are searching for Bitcoin, and somehow or another, that number
means Bitcoin is good or Bitcoin is bad.
I mean, honestly,
I think everybody knows what Bitcoin is or that have heard the name.
(14:39):
And
I I just I don't see the Google Analytics metric being of any value whatsoever.
So what?
Well, there's not as there's not as many people looking for Bitcoin today on on Google. So what?
I I honestly don't get where anybody
thought that that metric was ever gonna tell you anything,
(15:02):
except, I don't know, land you in a pile of mud, which you can quickly clean off with SoapMiner and his handmade tallow soaps. Circle p is open for business. Circle p is where I bring plebs just like you with goods and services for sale
to plebs just like you who might want to buy said goods and services and buy it for Bitcoin. Because if you're not buying it in Bitcoin or you're not selling it in Bitcoin,
(15:27):
you sure as hell ain't using the Circle p
handmade tallow soap. I love this soap so much. My wife loves this soap so much that she actually brought a bar of soap miner soap with us on vacation. Why?
Because it's that good.
I'm never buying I'm never buying soap from a store again. I'm I'm done. I wash my hair with it.
(15:51):
It did okay. This isn't soap. Let me tell you what this stuff really is from soap miner at you can go get it all at soapminer.com.
It's not soap.
What it is is it's soap,
it's shampoo,
it's hair conditioner,
it's skin cream,
and it's shaving cream,
all in one bar.
(16:12):
We don't you don't need five different products anymore, ladies and gentlemen. You could just wash your hair with it, and it it's shampoo and conditions at the same time. Why? Because it's using a 100% beef tallow,
and there's no parabens in it or any of that other crap.
In fact, one of my favorite soaps that SoapMiner makes is rough cut tallow. It has three ingredients,
(16:35):
fat,
lye, and water.
This is the way soap is supposed to be. And when you use the code Bitcoin and you get 10% off, let me make sure about that. I don't wanna because I am in I am in different environs.
I've gotta go back. I gotta make sure that I'm not talking out of my ass here. Hold on.
(16:55):
Oh, no. No. No. No. Failed open.
Why?
Hold on. I oh, good lord. Okay. I'm not gonna say anything.
I think there's a discount with SoapMiter, but I'm not I'm not exactly sure.
And the reason is is that my hard drive my external hard drive just accidentally detached from my Obsidian
note taking app, which is where I keep where which is where I do all my stuff.
(17:20):
And this is where I also keep all my vendor information. So
but make sure you use the code Bitcoin and why? Because this is value for value advertising. Nobody does it the way that I do it. I don't charge for ads.
Right? I and I also don't I'd I'd I'd not like
reselling or or trying to advertise for, like, huge companies.
(17:41):
I like pleb made goods.
These plebs make stuff that is the best stuff on the face of the planet, and I've got them all here inside
the circle p. Make sure you use Bitcoin and because that way SoapMiner knows that I sold your I sold his soap to you,
and he's gonna wanna get me back with Satoshis on the backside. That's how value for value advertising works.
(18:03):
It may not be the best idea I've ever had, but I love the circle p. Go to soapminer.com.
Use Bitcoin and as a code. Now on to Asia
is emerging in crypto, but not in the way that you want.
Asia emerges as a major hot spot for violent crypto crime,
(18:24):
and this is according to Chainalysis.
So this is violent crime. Right? This isn't like money laundering or shit. Chainalysis usually does that kind of stuff.
Let's
see how the hell Chainalysis
is doing anything
at all that tells us about violent crime.
Vince d Aquino is writing for Decrypt.
(18:45):
Asia is emerging as the epicenter of an unprecedented,
unprecedented, ladies and gentlemen,
an unprecedented
surge in crypto related crime with the region experiencing
record breaking digital heists
and a concerning increase
in real world physical violence targeting crypto holders.
(19:06):
The midyear update published by Chainalysis on Thursday shows that the Asia Pacific region now ranks
second for Bitcoin thefts,
While North America leads in total theft, oh, great. Asia
stands out for its mix of state backed hacks, violent attacks, and complex laundering networks.
(19:26):
Japan, Indonesia, and South Korea rank among the top countries
for victim counts with the region as a whole placing third in Ethereum losses.
The region's
crime or crypto crime ecosystem has spiraled into a complex web
where, you guessed it, North Korean hackers
(19:47):
execute billion dollar heists, organize crime syndicates, kidnap executives for ransom,
and local financial platforms serve as unwitting
conduits
for laundering stolen funds.
For instance, the 1,500,000,000.0
Bybit hack linked to North Korea is the industry's largest and shows the scale of state linked threats in the region. Quote,
(20:11):
illicit actors could attempt to launder
and potentially off ramp funds
through any service with sufficient liquidity, Eric Jardine, cybercrime research lead at Chainalysis, told Decrypt.
Asked about regional patterns in how crypto crimes affect trust among Asian communities,
Jardine told Decrypt that it lacks systemic
(20:33):
data on the issue. Quote, negative
events can absolutely affect people's sense of trust.
So it stands to reason that prolific crypto hacks might undermine sentiment towards crypto assets, he said,
adding that factors like user behavior, cause of theft, law enforcement response
also shape public reaction.
(20:54):
Chainalysis
pointed to a high profile murder of Chinese Filipino steel magnate
Anson Key, which is or q, possibly.
Q u e is how it's spelled. I'll just say q. Anson q as a case that highlights just how crypto and violent crime increasingly overlap.
The case exemplifies a broader
(21:15):
pattern across Asia where, quote, wrench attacks or physical violence
done to access crypto holdings have surged alongside Bitcoin price movements.
In March,
Q and his driver were abducted,
in Bulacan
or no. Sorry. Bulacan
province where their bodies, oh god,
(21:36):
later discovered, bound, and assaulted
in neighboring Rizal.
Q's kidnappers allegedly used junket operators and crypto payment channels to collect a ransom
according to Chainalysis coordinated
effort with Filipino
police.
It also worked with Tether to freeze a portion of the ransom that was held in USDT.
(21:57):
Authorities initially believed the ransom totaled
20,000,000
Filipino dollars, and I'm not sure if that's what it's called. It's just like a little p with three marks through it. But later confirmed
that 200,000,000
Filipino dollars, about 3,500,000.0
US, was laundered into crypto through casino,
e wallets, and shell accounts, and the tragic loss
(22:21):
of Q and Pubilo or Pubillo,
his associate,
reminds us of the real human cost behind these crimes according to Chainalysis.
Still, Chainalysis argues
that the case shows how the immutable nature of blockchain technology can serve as a powerful tool for justice,
ensuring that those who exploit
(22:42):
others cannot simply disappear into the digital shadows.
Recognizing
the security challenges facing Asia's crypto ecosystem, Jardine told Decrypt
that while limited awareness of threats and unavailability
of tools are clearly a challenge, the industry must act.
Quote, the industry or the ecosystem as a whole
(23:04):
has a responsibility
to try to improve everyone's access to crypto
while ensuring that they can do so effectively
and with minimal
risks.
So the crime goes up. And in the midst of it,
people are still trying to sell
shirts
and hats
(23:25):
and socks and shoes and pants and coat jackets and whatever
that firmly identify you as somebody who's interested in crypto.
Mostly that swag is is Bitcoin based.
I honestly don't see a whole lot of Ethereum based crap out there.
It doesn't matter what you're into.
(23:45):
Do not advertise that you might be interested in crypto because guess what?
Somebody who's gonna be violent to somebody when they know they have crypto
is not going to suddenly
not, you know, just leave you alone if they don't know that you have crypto.
They're gonna they're gonna go plumb that well, dude.
(24:06):
Do not wear Bitcoin swag.
Don't wear any crypto swag. I I literally, I don't care if you're if you're a a ripple head.
Stop
wearing
anything that identifies you as somebody who could potentially
hold
Bitcoin or anything else. It's not good for your health.
(24:27):
Now let's go ahead and run the numbers. I got CNBC
here up in front of me, and oil is up point 4%,
but chilling out the basement bargain level of $66.65
a barrel. Brent Norsey is up point one five to $68.62.
Natural gas in a rare form
is actually in the green too. Usually, it's red when oil is up, but it's up one and third to $3.59
(24:54):
per thousand cubic feet. Gasoline is up point 2%
to $2.14.
Gold is down point eight five
to $33.30
and 5 dime. Silver is down a third. Platinum is the only shiny metal rock in the green. It's up a quarter.
Copper is down a point, and palladium is down almost a point as well.
(25:15):
Ag is fully mixed today. The biggest winner is sugar, point 72% to the upside. The biggest loser is chocolate.
Five and a quarter points to the downside. Meanwhile, live cattle is down point four. Lean hogs are up point eight. Feeder cattle are down
point 2%.
Indices
look okay
(25:36):
today. Dow is up point 4%. Nasdaq is up a third.
S and P is up a quarter, and the S and P Mini is up over a half.
And people are using Bitcoin today. I can tell by the mempool, but first, we've got Clark Moody's dashboard
where all I can really tell you is that the price is at a $118,700
(25:57):
per coin.
We have a $2,360,000,000,000
market cap, and let's see what's gold doing. We can get 35.4
ounces of shiny metal rocks with our one Bitcoin of which there are 19,893,425.83
of.
And how many blocks are there today?
(26:20):
Wow. We've got a we've got a pretty decent size men pull here today. We've got, like, all of
shit. 12 blocks
waiting to clear carrying 32,000
unconfirmed transactions.
High priority rates are 4 Satoshis per v byte. Low priority is the same
for Satoshis per v byte.
And
(26:40):
mining is at hash rates at 300. No. Good lord. Sorry. Nope. 913.9
exahashes per second. So that dip in hash rate
has almost completely evaporated. We are back in full swing. And from
let's see. What was the what was the liquid I can't I I I do not know
(27:02):
where these boost came in from because I'm on a different computer
and things are acting differently when I'm looking at my fountain thing. Just just
stay with me. Progressively worse with 8,888
sats says,
here's the missing sats that didn't go through with the boost.
Okay. Yeah. Now now I see it. Boaz with four fifty says, please add abcwebdesigns.com
(27:27):
to the circle p.
Hey. Visit abcwebdesigns.com.
That's abcwebdesigns.com.
I don't know anything about it, but I'll definitely look into it, Boaz.
Now here it is for progressively worse. This apparently is the 8,888
sats that didn't go through the first time. He says another thought.
(27:47):
The value that could come from Project Cathedral is like how you described being a soil nerd. The depth and complexity are unfathomable.
You could dig and dig and still uncover new connections and associations that you thought had no correlation to each other.
One layer of depth and value that the vault idea or something similar could provide is this, quote,
(28:10):
the diversity of project levels that could be shared.
Clear as mud. Right? Example, level one. Have a low budget tutorial on how to create a unit for
char, I've guessed in biochar,
that I'm going to put on Maastricht. Simple, cheap, and a vast amount of people could replicate the unit to create char.
(28:30):
They could then
charge it with biology and boom, they have a simple unit to produce biochar.
Level two,
the next person has a unit that or hold on. The next person has a unit
they use that's more complex. They could create a tutorial on their own device and set up
maybe the second level unit cost a $100 in total. It's a little more complex, but more efficient in the carbonization of biomass. Yeah. And then we go to level three. Yet again, a more complex unit tutorial provided, but this unit includes a part to capture wood vinegar,
(29:07):
gaining two products out of one unit, etcetera, etcetera.
This might help people form an anchor point around options on how to start creating local products.
Their decision would be based on their monetary situation, resources available to to them locally,
and their drive to produce,
then they could visualize the next step that they could take in their journey to reach the next level if they so choose.
(29:32):
I don't know what you started, but I'm here for it. Safe travels,
d. Thank you, man. I appreciate that.
Yeah. You're you're right.
It's
I think you're more clear than you think you are.
I I understand what you're trying to say. Now
will Obsidian
(29:52):
do that?
Like I said, man, I've been on the road for two, you know, like well, yesterday, I just did nothing
except be here at at at the house,
looking at trees,
listening to birds, watching my dog chase chipmunks, and watching little bunny rabbits and shit skitter across the road. That's all I wanted to do.
(30:14):
So I haven't looked into anything yet, but I promise you I will. Perma Nerd with two ten says, I use sync thing to sync Obsidian across devices.
This may be an option
for a collaborative
vault. Something may need to be built out to scale it, but it could be a start. Start. I'm happy to help test any solutions that are brought forth.
(30:37):
Okay. That I think we've got enough people interested in this. Aaron Joel, a 172
sat says, AgFi. Love it.
Turd in the punch bowl with 500 says,
what are the odds that James Wynne was
staked
or hold on. What are the odds that James Wynne was staked the money he gambled on hyper fluid as a form of promotion? Oh,
(30:58):
this happens in online casinos
all the time where streamers, influencers are given the money to gamble with on the platform,
thus resulting in no loss for either the exchange
or win, but lots of exposure
slash publicity.
I I have no problem with that theory.
(31:19):
It would not surprise me in the least.
What's odd is terminating his x account,
but that's another story altogether.
I guess what we'd
if we were to look back in at James Wynne's, you know, x history, if we could, like, when did how well was he known? When did he get well known?
(31:41):
If it was a very short ramp up to having hundreds of thousands of followers to the point that you're starting to get in you know, you're getting into, like, the Bitcoin magazine stuff,
you're getting your name mentioned there,
then chances are very, very good that this theory is correct.
If he did it over a long period of time and it took like a like, freaking forever for him to actually, you know, do that, then maybe not so much. But I have no problems at all with
(32:09):
this theory, their turd in the punch bowl. Psyduck with seven thirty three says
Psyduck in God's death was 69.
60 nine says, thank you, sir. No.
Thank you. And I think that that's the last one for the last show, but
if I'm wrong and I didn't read your note, nothing personal.
(32:30):
I'm I'm
reaching for straws over here in my makeshift studio.
Part two of the news you can use, house clears key crypto bills for a final vote after a record nine hour standoff. This
apparently happened while I was away.
This is decrypt and it's written by Vismaya v.
(32:54):
The house of representatives
narrowly passed
house resolution five eighty with a 217
to 212 vote on Wednesday,
reviving the path forward for three major crypto bills after a record breaking procedural standoff that stretched nearly ten hours.
Eight conservative Republicans who initially blocked the legislation on Tuesday switched sides
(33:17):
after house leadership agreed to attach the anti
CBDC
surveillance
state act
to the National Defense Authorization
Act,
ensuring the prohibition would pass with the must pass defense bill. Wow. Holy shit.
That's kinda huge.
Quote, attaching the anti CBDC
(33:39):
surveillance
state act to the NDAA
will ensure unelected
unelected
bureaucrats are never ever allowed to trade Americans' financial privacy
for a communist Chinese style surveillance tool, house majority whip Tom Emmer wrote on x.
This now clears the path for final votes on three major bills,
(34:01):
the stablecoin
regulating genius act,
the Market Structure Clarity Act, and the Anti CBD Surveillance
State Act itself. The vote has sparked optimism
within the crypto industry
with supporters saying it provides much needed clarity for the industry. Quote,
regulatory uncertainty has been the single largest deterrent
(34:25):
for major institutions.
Stephen Goldfeeter
wow. What a name. Stephen Goldfeeter,
CEO of Offchain Labs and creator of Arbitrum, Toll Decrypt, quote, a legislative framework
finally signals to the market that this technology is here to stay,
that it deserves real governance,
and that participation
(34:45):
can happen within a trusted structure.
Why are all these people the same
ball of shit that we've been dealing with for centuries?
What is the fascination with centralized shit?
Because it's more efficient?
You know what's you know what's efficient?
CAFOs.
Confined animal feeding operations
are highly efficient.
(35:08):
Go visit one
and see how much you like it. Anyway, the breakthrough came after Donald Trump called in at a final moment
of negotiations
and expressed satisfaction with the deal hammered out in house speaker Mike Johnson's office as per a political report.
House majority leader Steve Scalise,
(35:29):
Thursday's scheduled
listed the crypto bills under legislation considered pursuant to a rule, meaning
the bills are now officially ready for final floor votes
under the terms set by the procedural
rule that just passed.
The Genius Act is scheduled for a floor vote today,
(35:49):
Thursday,
and could become the first major crypto bill
ever signed into law while the Clarity Act vote may be pushed on to early next week.
Quote, this is a significant win for the American people as a government controlled digital currency
poses a direct threat to financial privacy and economic freedom, said representative Andy Harris.
(36:11):
The agreement satisfied most Republican concerns,
though
representative
Marjorie Taylor Greene maintained her opposition
despite party pressure. Quote, I am not voting for the mark of the beast system.
Totally happy and content
being 1000%
no, she tweeted earlier,
(36:31):
remaining one of the few
GOP holdouts. And I don't understand. Why would she hold out?
They're they're saying no to the CBDC.
Why
I don't think Marjorie understands what that vote was,
which is kinda scary, but
whatever. On on Tuesday,
the house had voted nine a 196 to 223
(36:55):
against advancing the rule with 12 Republicans defecting and objecting to the Genius Act's perceived ambiguity
on CBDCs.
Following that defeat, Trump summoned the holdouts
to the White House and announced that he convinced them all to support the measure.
The Wednesday proceedings saw an initial vote that appeared to succeed at 215
(37:15):
to 211,
only for the same Republican holdouts to retract their support and leave the house floor for prolonged
negotiations with party leadership.
What a bunch of douchebags.
Sorry. I probably shouldn't say about that, about the leadership of The United States because it makes me anti American, doesn't it?
Yeah.
(37:36):
Yeah. That that's how it started with Britain. Okay. So Marjorie Taylor Greene, I and I guess some other people think that the anti CBDC bill
isn't strong enough,
and may maybe that's what she's saying.
Honestly,
it's that one's way above my pay grade.
It really is. And I'm not gonna go read
(37:58):
I'm not gonna go read that act.
I'm not even gonna give it to to to chat GPT and and say give me a bullet point list of all the important shit. I'm not even gonna do
that. Any steps at all that hinder,
hamper, or otherwise impede
a central bank digital currency in The United States,
I am all fucking for it. I'm just all for it. And I I
(38:22):
I don't know. It just seems weird
that she's holding out.
Whatever. It it passed anyway. So
we're gonna end up with anti CBDC legislation
firmly seated inside the NDAA.
I honestly think it's a good thing, and so is this.
LND version zero point one nine point two has been released with key bug fixes and performance upgrades.
(38:49):
Tuesday
god. Tuesday.
Today, a new version of the Lightning Network daemon
version zero point one nine point two has been released.
This update focuses primarily
on bug fixes and
performance issues.
Some of the major fixes include a bug that caused missed payment confirmations
shit. A rare issue that could freeze the node during startup
(39:13):
and a memory leak
that made the software use more resources over time. It also fixes
crashes that could happen when the node was starting up in certain modes or handling backups.
The release includes an optional migration
to reduce the size of the decayed
log database,
(39:33):
which helps lower disk and memory usage.
The cleanup runs automagically
unless turned off in the settings. Quote, this migration is optional, but turned on by default,
stated the release notes. If you encounter issues, you can opt out by migrating,
or opt out of the migration by setting
(39:54):
no g c decayed log equal to true in the configuration file.
This migration does not prevent downgrading to earlier version 0.19
x beta versions.
Other changes include better handling of peer to peer connections, improved tracking of payments and logs, and more accurate fee calculations.
(40:14):
This all sounds good. I can't wait to upgrade my node with that.
So
on to the last one of the day,
I've got this one. Similar Scientific
has now become the fourteenth largest public Bitcoin holder
after a $25,000,000
Bitcoin
purchase.
That's according to Francisco Rodriguez, who's writing this one for CoinDesk.
(40:38):
Similar Scientific has added 210 more Bitcoin
to its balance sheet, acquiring the additional coins from July 3 through July 16
for $25,000,000
or an average price of a $118,974.
The firm now holds 4,846
(40:59):
BTC
worth $575,000,000
according to regulatory filing.
The stack was acquired
for a total of $455,000,000
or an average price of $93,890.
So there you go. Similar has now jumped to the fourteenth largest
(41:19):
Bitcoin treasury
company.
It's not going away, guys. It's just not. They tried to kill us a couple of days ago. They couldn't. We're back up to where we were.
Pakistan
and and freaking El Salvador
are shaking hands and becoming friends.
I can't I was thinking about this when I was putting dishes away last night.
(41:42):
You know, it's it's always said that Bitcoin
is the shelling point.
And for those of you who don't know what the shelling point is, it's it's a fascinating concept.
If you the it's
it kinda ends up being kinda confusing, but the way that it's best described is this. If you had to meet somebody if you're going to New York City and you had to meet somebody in New York City and yet you didn't have a phone,
(42:08):
you had no way to access any kind of communication to talk to that person to let them know that you're going to be in town
and that you need to meet somewhere,
where would you most likely choose to meet that person? Where do you think that they would go? Because they know you're coming, but they don't know where you're gonna go, and they don't know what time you're arriving. They just have a rough idea
(42:30):
that you're get where would you go?
And they always say, Grant, the the giant clock in the lobby, the the main hall of Grand Central Station, New York City.
I that's a shelling point.
So I started thinking about it last night. I'm thinking about the shelling point because I always say Bitcoin is the shelling point.
(42:51):
What does that actually mean?
You know how many of the greatest
people that I've ever met in my life, and I haven't even real met most of y'all in person,
But, like, guys like SoapMiner.
I'm not I'm not gonna just accidentally run across this guy in Midland, Texas or Lubbock, Texas or Eastern Washington.
(43:13):
No. We met because
we were at
Grand Central Station.
We were waiting for each other, and we didn't even know we were waiting for each other. Same thing with Great Ghee, one of my other Circle p vendors.
You know, I have a great admiration for the winemaking
skills
of Ben Jessman
(43:34):
over at Peony Lane Vineyards.
You I mean, I there and there's so much more. There's so many people
that I know are good people. They talk about time preference. They talk about waiting. They talk about patience.
They talk about, you know, never giving a shit about economics before. Now they know more economics than most economics professors.
(43:57):
Right? These are the people that you want to hang out with.
These are the people you you can trust your property with them. Not every single one of them. Sure. There's probably a, you know, there's probably a couple of dickheads out there. I don't know, though.
All the people that I've met
at the shelling point that is Bitcoin
are the people that I've always wanted to meet.
(44:17):
That's the point.
And they're smart, and they're, like, just
100%
want to change the world because they're sick and tired of the crap that they see.
That's why Bitcoin is the actual shelling point. So with that said, I'm not gonna drag it out.
I'm gonna go ahead and and let it go, and I will see you on the other side.
(44:41):
I'm just saying, I'm gonna see you on the other side.
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