Circle P:

Episode Transcript
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(00:02):
It is 08:51AM
Pacific Daylight Time. It is the September
2025,
and this is episode eleven sixty seven
of Bitcoin. And
the United States government is gonna pull the Patriot Act on us.
So, yeah, be prepared for that.
When we get to it, you're here because it's all the news that you can use about Bitcoin and more. It's where you come when you wanna find out, hey, what the hell's going on today

(00:30):
in Bitcoin and beyond?
And beyond,
we're talking about the end of paper Bitcoin summer.
Will it be?
We still have we still have, like, I think we gotta get through,
yeah, I think, September 21
or September 20, something like that will be the first day of fall.

(00:52):
We just need to get there. And speaking of get there, Boeheims got there.
Tether is launching a new coin, and Boeheims
apparently is going to be at the head of it. And then we're gonna move on to Africa.
We're gonna talk about
chipper cash is what that's gonna be. And then we're I need to touch back on

(01:13):
Nepal and the Nepalese protesters and their embrace of BitChat.
I've actually got a couple of stories about that, and one of them is from Forbes, which I find rather interesting.
And then asset entities
has merged with Strive.
If you don't know what either one of those are, you will by the end of the show.

(01:34):
And at the end of the show, you will also
get a little rundown on the Bitcoin hash rate
and the Bitcoin hash or, well, the the mining difficulty.
Both have hit records
as has well,
the miner supply of Bitcoin has spiked. It's not really hit an all time high,

(01:55):
but it seems that there may be a slowing of the selling out of Bitcoin miners. But first,
the Patriot Act, which is anything but patriotic.
You know, when
when the United States government
involves itself in marketing
and marketing language
in their bill structures,

(02:17):
which they've done forever,
I'm I'm sorry, it's it's it's not really new. But
the
more I see it, the more I I realize just how awful it is to have Madison Avenue
and the United States government teaming up together. It's it's almost like Nazi Germany
in the way that they did their their propaganda.

(02:39):
It's just it's sickening.
But this is out of Atlas '21,
US government ready to apply the Patriot Act to Bitcoin
and the rest of the digital asset field.
According
to The Rage,
this week marks a pivotal moment for the digital asset sector in The United States with the government preparing to apply the Patriot Act of all things to Bitcoin and other cryptocurrencies.

(03:06):
Last week brought positive developments on reforms to the Bank Secrecy Act of 1970,
worrying news
now emerges
regarding the privacy of Bitcoin and crypto
transactions.
The Patriot Act, enacted after 09/11/2001
under the Bush administration, grants the United States government

(03:27):
extraordinary
powers to bypass constitutional
protections.
Let me read that again. The Patriot Act allows the US government
to bypass
constitutional
protections
in the event of terrorist threats,
which is why everything is always a terrorist threat. Terrorist financing,

(03:48):
terrorist
this and that,
terrorist other things. It's always about it's either about the children or it's about the terrorist. Which Christmas paper do you want your bullshit gift wrapped in? Anyway, these powers
include warrantless
surveillance
as well as the suspension of the right to a fair trial.

(04:08):
According to reports,
FinCEN director Andrea Gacke confirmed
that the Treasury is working to finalize the so called mixer rule.
This regulation aims to ban nearly all privacy mechanisms on public blockchains for United States citizens.
During the hearing, representative Liccardo

(04:30):
stated, quote, we are seeing more and more illegal transactions being done in crypto, citing a study showing that 91%
of 101
no. 111
fraud cases
examined involved decentralized
finance.
The main concern is the pseudonymity
of transactions.

(04:50):
Gaki responded that FinCEN
is collaborating with blockchain analytics firms like, I guess, Glassnode
to de anonymize
pseudonymized
transactions, but Locardo countered that software like mixers could allow users to evade even the most sophisticated detection techniques.
Contrary to its name, the Treasury's mixer rule is not limited to mixers only,

(05:14):
but represents a generalized ban
on any software or behavior that provides transactional privacy to users of public blockchains
such as Bitcoin.
The rule
would consider the following
activities
a primary concern for money laundering.
One, pooling or aggregating crypto from multiple people, wallets, or accounts. That's quite broad.

(05:40):
Two,
using computer code to coordinate or manipulate the structure of transactions.
Three, splitting Bitcoin to transmit it across independent transactions.
Four, creating disposable wallets, addresses, or accounts nah, I'm pausing right there that's the way Bitcoin actually works
this is ridiculous

(06:01):
five, exchanging between different types of cryptocurrencies
and six, facilitating
delays and transactional activity. This shit's gotta stop right now.
This shit has to stop right now.
Saying it again. This shit has to stop right now. This is absolutely beyond the pale.
This is not a free society.

(06:23):
These are not free people.
This is not the way that we act as American citizenry.
This has to stop.
If we allow this to happen, all is lost.
Continuing,
these provisions
could also put Bitcoin users employing common privacy practices under suspicion, potentially leading to criminal liability

(06:46):
similar to traditional finance
smurfing, which is the breaking up of large sums of money into smaller transactions
to evade banking controls,
which is a federal offense punishable by up to five years in prison.
So I gotta go to prison because I'm just
doing transactions?
Is is that it? Because I'm

(07:08):
automatically considered a criminal?
Is this the way that a civilized society treats citizenry?
No. It's not. If you wanted the answer to that question, it it's it's actually not. Parallel to FinCEN's work,
the Special Measures to Fight Modern Threats Act
previously
considered stalled in Congress has been reintroduced.

(07:29):
Oh, yay.
Representative Zach Nunn confirmed that the bill is still under debate.
According to the rage,
the Special Measures to Fight Modern
Threats Act, originally introduced in 2022 by representative
Himes of Connecticut,
would effectively give the treasury the power to prohibit any transaction deemed concerning

(07:51):
without public notice nor consultation.
They won't even have to take
commentary on this shit.
As highlighted by the rage contributor, Nicholas Anthony, who has written for the Cato Institute, quote, one likely scenario is
that the treasury would use this authority to prohibit US banks from being involved with cryptocurrency

(08:12):
transactions
validated by miners located outside of The United States,
end quote.
Jerry Brito and Peter Van Valkenburg of CoinCenter described this approach as dangerously authoritarian,
noting that all cryptocurrencies are inherently global, and therefore, any Bitcoin transaction could plausibly
be linked to a foreign jurisdiction. This is bullshit.

(08:36):
Everything about this is everything that the founding fathers of The United States would have bore.
And anybody involved in its
even
mere utterance on the floor of United States Congress,
You know, there there could be like like I mean, it was it it actually occurred that there was a duel on the floor of The United it was it was either the senate I think it was the House of Representatives,

(09:01):
but it was in Congress between
two congresspeople.
It was, like, a it was an actual duel, not with guns. It was more like with, you know, with swords, but it happened
because people were vehemently
defending
the people of The United States.
Yet Hamilton was I I think it was Hamilton that wanted the central bank, and Jackson was vehemently opposed

(09:27):
to the central bank and actually said, hey, man. The said the second bank of the United States, it's going down. I'm going to destroy it. And they tried to destroy Jackson for it, and it didn't work.
At least at back in the day, there were people that would defend the citizenry of The United States, and now all we have is some of the most evil, vile, scum sucking, malevolent pieces of shit that has ever come down the pipe.

(09:52):
There are there a few good people up there? Yeah. Yeah. There are. But they are outnumbered and they are outgunned.
The only I don't even know how to how to circumvent this at this point because we can't run.
We can't just move to another country.
You know? We're we have to fight. Otherwise, really, all is lost.
But this thing,

(10:13):
it it if if Trump doesn't get a hold of this right now,
then he's lost the midterm elections because it was the Bitcoiners that got him in, and it will be the Bitcoiners that can throw his ass out. Now not him, but anybody
who
is is for him or anybody who's working for him. If we got them all in there,

(10:33):
and if they don't do anything about this, then they're they're going to lose midterms.
They just are.
Will it be, however, the end of paper Bitcoin summer?
Joaquin Book from Bitcoin Magazine
has something to say about it. As summer now turns to fall, in the Northern Hemisphere, the Stonkcoiner

(10:54):
dream of Bitcoinizing
finance is, well, rapidly becoming a nightmare.
The Bitcoin paper summer of issuing shares of clueless financial markets at extreme overvaluations
to thereby buy Bitcoin on the cheap is ending, not with a bang of success, but with a pretty unimpressive whimper.
The Bitcoin Treasury dream was nice. I even openly admit that it made some sense.

(11:20):
For a few months, Wall Street merrily entertained the froth and fueled the fires, but at last,
the financial gravity is reasserting itself.
We're all waking up from our summer fling with financial delusion,
where things traded for more than what they're objectively worth. It's it was both wonderful and tragic to see standard corporate finance once more hold firm. And earlier this year, our own David Bailey, CEO of BTC Incorporated, the owner of Bitcoin Magazine,

(11:48):
told Bitcoin for Corporations,
another arm of BTC Inc, that, quote,
if you can sell a dollar for more than a dollar, you do that trade all day long, quote, end quote.
It turns out
that free lunch strategy wasn't free. Wiping out investor money in the process has been a painful journey

(12:09):
in learning that lesson.
When you, the retail bag holder, are buying a security instead of real Bitcoin, you're typically doing so at a premium, you know, like,
an MNAV above one.
Perversely,
this is both verifiably
insane,
why buy a dollar for more than a dollar

(12:29):
and the very force that animates these Bitcoin Treasury companies.
Those of us looking at this with justifiable criticism presume that the MNAVs
would come down to roughly one via shares,
falling or staying flat while Bitcoin's fiat price rose.
Why did they put one in there? That
would come down to one via shares fall I don't know. That's a bad sentence, guys. Fate played a trick on us by crashing the Bitcoin price instead.

(12:58):
In consequence,
quite a lot of these airy financial alchemy monstrosities
fell by much greater multiples.
Bailey's own Naka, n a k a, for which Bitcoin magazine provides certain marketing services,
has been the most amusing.
And for many people around these parts, well, financially tragic.

(13:18):
When Naka announced a major $5,000,000,000
program of share issuance last month, the stock collapsed downward some 30% on the news and kept tumbling thereafter,
down a neat 70%
from its initial pump around the announcement of reverse merging with KindlyMD.
NACA has fallen a whopping 85%

(13:40):
from its highest point in May,
recently setting new lows at $3.28
The market price tells you whether you're right or wrong, said Moshi Shin, managing director of APAC Wintermute Trading,
on day one of the recently concluded
Bitcoin Asia in Hong Kong. I guess that tells us enough about the dubious prospects of Nakamoto and other Bitcoin treasury companies.

(14:06):
The recurring
pump and dump effect of issuing more shares for a Bitcoin Treasury strategy no longer
comes with a great pump to the share price.
It falls as Sanity and traditional corporate finance would suggest.
It doesn't matter how many thousands of coins Saylor's strategy is eating. The price of m s star MSTR

(14:28):
keeps falling,
having returned the sum total of 0%
to common shareholders since November.
Meta Planet, having recently passed 20,000
in hyped up celebrations,
has seen its stock fall all the way back to levels not seen before the paper Bitcoin summer kicked off.

(14:49):
In a recent article chronicling the Treasury phenomenon,
Nikhil Asghari from the Financial Times remarked sourly that, quote,
the crypto buying strategy largely relies on issuing shares or raising debt to buy Bitcoin and other tokens,
hoping that this fuels share price growth.
Understanding the point, she continues,

(15:10):
quote, raising capital becomes harder to do as company valuations fall, however,
end quote, when when the share price falls
and the MNAF compresses towards one,
the free money magic goes away.
We'll find out if the hundreds of treasury companies out there have any viability
once the magic money printing era is over.

(15:33):
Yeah. There there you go. Even Tyler Evans of UTXO
Management, another BTC Incorporated and Nakamoto involved company confessed
as much as as much to Asghari
in the same Financial Times article.
The market, well, it got irrationally overheated
and that the paper Bitcoin summer was the peak for both hype and for the number of companies launching.

(15:57):
At the tail end of paper Bitcoin summer, we see reality reasserting itself dramatically recovering from the collective delusion
that market prices on the world's most liquid markets could veer so far off of m Nav course.
Here's a bold prediction.
In one year's time, Bitcoin treasury companies won't be a thing.

(16:17):
Most of the lower tiered ones won't survive and will instead spit out the coins they so gluttonously,
gluttonously,
and recklessly
gobbled up. The ones with serious moat and competent management teams like strategy or Meta Planet will survive,
but see their MNAV
shrink to the a sliver

(16:39):
above zero
where they logically belong.
The paper Bitcoin summer has ended, and I, for one, couldn't be more excited to see these nightmares
go back to the ethereal dreamland
from what whence they came. Sorry. Having a little bit of difficulty this morning.
He's right.

(17:00):
And I've been saying this for a while.
The smaller companies are gonna choke out.
It's there it's just not viable.
And we've got I'm gonna cover one, yet another story about this crap later on in the in the show. But for now,
understand that that
this guy's right.

(17:20):
This it's it's been fun.
It's been interesting to watch.
But once people actually took up Sailor's
playbook
because and even I was kinda wondering,
Sailor, you know, he he did that whole summit thing. He invited all the CFOs and CEOs from these I think he he ended up with 500 companies attending this online summit thing, and and nobody nobody made a move. And then all of a sudden,

(17:50):
right before this summer happened,
it was just a freaking explosion. And all throughout the summer, everybody was just doing what what Michael Saylor was doing.
You use your existing cash to buy Bitcoin. You put that on your balance sheet. You you release you do a press release,
and then you start
manufacturing
debt instruments to sell to the public

(18:12):
so that you can say we're going to increase your Bitcoin per share.
That that that's essentially that's essentially the entire playbook in a nutshell.
It actually
doesn't make sense after a while.
I think
strategy
has themselves
four debt instruments

(18:32):
for sale
expressly to buy Bitcoin, and then they've got their their shares of common. I think they have common a and they have common b.
So they have
they have six, yeah, they have six different ways to generate cash
at the market by selling paper.
Six different ways.
And then may I remind you that Michael Saylor promised, he swore up and down that he wasn't gonna be selling any more common shares

(19:00):
unless the MNAV was above 2.5,
but it's compressed well below that. And it really does need to be more around one or 1.1
or maybe 1.2.
I could almost see it, but
who knows?
And
this gentleman is also correct. Strategy will probably survive. They're they have a massive treasury chest at this point.

(19:23):
Now the question becomes,
in aggregate,
how much Bitcoin
does all the small companies have
and when the choke point hits,
when they barf those coins back up, and they will,
what's going to be the effect on price? That's what everybody's question is always going to be. What how much in aggregate

(19:47):
coins are there?
And when they dump, and they will,
what's it gonna do the price? And the but the second question in my mind is, how much of those coins will Sailor be able to swipe up? Because as these companies barf out their coins,
the retail is gonna barf up their stock.

(20:07):
And what are they gonna do with the cash that they make?
Some of them are going to make boatloads of cash. Some of them are not. I mean, let's let's be very clear about that. But some of them are or some of them already have, and they've already bailed out, and they're just waiting.
Maybe they're just waiting for the rest of this,
paper Bitcoin summer to come to its conclusion

(20:27):
when they figure out that everything's gonna funnel back into
strategy,
meta planet, similar scientific.
Who knows? What maybe even Kindly MD survives all this. I I I don't think so, but Twenty One Capital probably will.
I mean, they're backed by Tether and Cantor Fitzgerald,
so Jack Mallers will his company will probably do okay.

(20:50):
But I mean honestly I only see I really only see five viable companies here.
Everything else,
it's all gonna blow away like chaff in the harvest.
Now let's move on to Tether because they're launching a brand new stablecoin.
Yes. If you didn't hear me just now, Tether is launching a brand spanking new stablecoin called

(21:14):
USAT
stablecoin,
and it names ex Trump adviser,
Beau Hines,
the Tether
USAT
CEO. So it's a whole
structure. It's not just a new coin.
It's a whole thing by itself, Cointelegraph
Vince Quill is writing.
Tether announced a brand spanking new dollar backed stablecoin and said that former White House crypto adviser Beau Hines

(21:41):
will become CEO of Tether USAT.
The new stablecoin will be consistent with the reserve requirements and compliance standards of the recently passed Genius stablecoin bill and will use Tether's Hadron real world asset tokenization
platform
according to a Friday announcement.
Hadron. Like, the hadron

(22:02):
super collider.
Whatever.
Stablecoins
recently crossed the $270,000,000,000
milestone according to rwa.xyz.
Stablecoins have become a geostrategic
policy issue for the Trump administration
in The United States and is quickly becoming a focus in other countries like China as well. Quote,

(22:25):
Tether is already one of the largest holders of US treasuries because we believe deeply in the enduring power of the dollar.
USAT is our commitment to ensuring that the dollar not only remains dominant in the digital age,
but
thrives.
And that that's all there is to that that news story. It's just the announcement

(22:46):
that we've got Beau Hines
gonna be the CEO of
USAT.
Now here here's the thing.
What they're not saying is
how is he a CEO
if it's not the case
that USAT
is going to be its own structured company that is actually separate
from Tether, of which

(23:09):
Paolo Ardoino is CEO.
This is a completely different company, which means it's probably domiciled
in The United States as well.
Now this
I'm not shocked, but I am rather kinda surprised that
this soon, it was that Tether moves into The United States.

(23:29):
And, of course, and again, I've read a couple of stories that said that they were talking about it, they were gonna do it, and I was surprised then as well because
it was my thought that they would keep that The United States would keep Tether
as a way to export
United States debt, and they still will,
but that they would not be allowed to actually have anything to do with internal

(23:50):
stablecoin issuance within the borders of The United States. That one I thought was gonna be firmly in
the lap of the guys over at Circle.
USDC is is their United States dollar backed stablecoin.
Since this is going to occur, Tether or USAT
is probably going to eat USDC's

(24:12):
lunch,
so we'll have to see how Circle reacts. I do not
imagine that it's going to be pretty. I'm certain that they're not happy about this.
Moving over to another continent entirely, we have Africa's Chipper Cash adopting lightning at scale.
50% of Bitcoin transactions

(24:32):
are now instant and low cost according to Nick
from Bitcoin magazine. Chipper Cash,
one of Africa's leading fintech companies, announced today
that more than 50% of all Bitcoin transactions on its platform
now run over Lightning Network,
marking one of the most significant real world deployments of Lightning to date.

(24:53):
The company, which serves millions of consumers and businesses across
Africa, have been using Lightning through infrastructure provider, Voltage,
to deliver faster, cheaper, and more reliable payments.
This achievement
well showcases the growing importance of Bitcoin's Lightning Network as a viable everyday payment rail in markets where legacy systems often struggle, quote.

(25:16):
Lightning enabled payments have the potential to empower and accelerate greater, more reliable financial access across Africa,
said Mijad
Mullajed,
cofounder
and president of Chipper Cash, quote, Voltage's reliable infrastructure
reduces the complexity of building on Lightning, allowing us to focus on at scale.

(25:37):
With Voltage,
Lightning can truly become the backbone for global real time payments by delivering near instant settlement at low cost for people and businesses that need it most, end quote.
Founded in 2018
as a peer to peer remittance platform,
Chipper Cash has since evolved into a fully licensed fintech provider offering cross border payments, virtual cards in partnership with Visa,

(26:03):
stock investing, and stablecoin
rails.
Lightning has quickly become central to that expansion. What began as a weekend discovery by Muljad
himself
has grown into continent wide adoption fueled largely by word-of-mouth.
One Chipper Cash customer described the Lightning Network simply,

(26:24):
it's like discovering fire, highlighting the speed and reliability
compared to traditional methods.
And across much of Africa,
financial infrastructure is plagued by outages and delays
according to the company.
Even after years of operation, Fiat partners continue to experience downtime.
Lightning, in contrast,
delivers near instant always on payments for markets accustomed to unreliable systems. Well, this represents a leap forward in financial accessibility

(26:53):
pausing to say step function.
If it's not a step function improvement
in user experience,
company experience,
everybody's experience, then it will not gain traction.
This is what we know about technology.
And Lightning Network, according to this,
is a step function improvement

(27:16):
on the user experience and company experience
in payments
on the continent of Africa.
The whole continent.
Continuing,
key success metrics from Chipper Cash's Lightning rollout include over 50% of Bitcoin transactions are now powered by Lightning.
Two,

(27:36):
adoption fueled organically through customer referrals. And three, faster, smoother cross border and domestic payment experiences. And finally,
stronger resilient
resilience compared to Fiat rails.
The integration also enables
interoperability
with, of course, Strike,
Cash App, and other Lightning powered platforms

(27:57):
broadening chipper's reach globally.
Recently, the company launched Chesa,
enabling remittances via crypto rails with instant settlements into over 25
different local fiat currencies,
Lightning sits at the core of this offering. Quote, what Chipper Cash is doing with Lightning proves that emerging markets can leapfrog outdated payment rails, said Graham Kazick's,

(28:22):
I can't pronounce it, CEO, Voltage.
Quote, with Voltage powering certain parts of their infrastructure, we've unlocked instant global and low cost payments
that work every time,
everywhere,
end quote. By integrating Lightning as part of its payments
infrastructure, Chipper Cash has
positioned itself as a continental leader in Bitcoin adoption

(28:44):
with growing customer demand and support from Voltage.
The company is showcasing how African
fintechs can leapfrog outdated systems
and deliver next gen financial services today.
So lightning
marches on. Let's run the numbers.

(29:11):
Well, West Texas Intermediate crude is up almost a full point and a half to sixty three twenty seven.
Britton, North Sea up 1.6
to $67.48.
Natural gas is up 1.16.
Gasoline is up one and a third, and Mirbon crude is up 2.15
points to $71.40.

(29:32):
Shiny metal rocks are doing well today. Gold is up a quarter to $36.81
in 6 dimes. Silver is up one and a fifth. Platinum is up point 79%.
Copper is the only one in the red. It's down a quarter, and palladium is up 1.87%.
Ag looks to be fully mixed today.
Biggest winner appears to be coffee, three points to the upside. Biggest loser

(29:57):
is a tie between wheat and rough rice. They're both down point 86%.
Live cattle is down point four, lean hogs down point four, and feeder cattle are down point 8%.
Meanwhile, the Dow is not happy. It is down one half.
S and P is moving sideways slightly in the red. Nasdaq, however, is up a third, but the S and P Mini

(30:20):
getting kicked between the legs point 87%
in the red.
Bitcoin is at a 115,000.
Wow. $300.
That is a $2,300,000,000,000
market cap, and we can get
31.5
ounces of shiny metal rocks with our one Bitcoin of which there are 19,919,735.55

(30:41):
of an average fees per block are relatively stable at 0.03
BTC taking in fees on a per block basis.
I'm seeing,
oh, I don't know, about 42 blocks carrying 73,000
unconfirmed transactions waiting to clear
at high priorities and low priorities both at one sat per v byte.

(31:03):
We are still above one Zeta hash. We are at exactly at 1.04
zetahashes per second
for the hash rate, so you can do with that what you will. A reminder
that I have a website.
The Bitcoin and podcast has a website. It is
bitcoin and show, all one word,

(31:25):
bitcoinandshow.com.
Go there, sign up, and you will get
an email
every time that I either release an episode or put up something special
like,
an article or a cathedral episode or something like that. I will do another cathedral episode. I just wanna take a little bit more time with this outline

(31:47):
than I, than I
than I normally would because this part is where we get into Bitcoin mining,
the production of biochar,
how do we get our inputs to make the biochar,
how is heat handled, what how does all this work? And it's it's actually a little bit more complicated when I'm trying to describe it to somebody than what it looks like in my head. So bitcoin and show.com.

(32:12):
Go over there and sign up.
Now from the last few shows
of Bitcoin and I've got progressively worse with a row of sticks,
11 d 11, and he says cheers.
And that was from Central Banksy, which was yesterday's episode of Bitcoin and also from that same episode, bit gust two with 5,000 sats. Brother, thank you. World gone crazy, he says.

(32:35):
Otis Bittmeyer with fifty four twenty says, thanks for this. I appreciate that, Otis.
And that was from that was actually from Cathedral three, so people are still listening to the older Cathedral episodes. That does my heart proud. From central banks, tulips with 5,000 says tulips.
The funny thing about sending Bitcoin to Mars is that the guy detailing the bridge has a last name that means bridge in Spanish,

(33:02):
Puente.
It is all tulips, and it is all going to zero. I disagree.
From Central Banksy 1776
with 1776
Sats says, says, great episode.
Despite the somber mood that has settled across the land,
it's hard not to be affected by it. Thanks for bringing us stories that the legacy media is intentionally suppressing

(33:25):
and for calling out their gross embellishments
and
glaring
omissions. Have a great Friday. Yeah. I hear you pal. Reed with 2,100
and that was from Bitcoin for dark times says, dark times is a great reason to support value for value. Cheers.
And both from central banks, he pies with four twenty one,

(33:46):
shows he's showing me his guns. And then he says for $1.21, thank you, sir. No, thank you. Bitgust with 5,000,
from Bitcoin for dark times says, boost. And I think that I covered that yesterday. That's the weather report.

(34:11):
Welcome to part two of the news that you can use.
Nepalese
protesters
should permanently
embrace BitChat
as well as Bitcoin and other freedom tech.
Everybody's favorite writer from Bitcoin magazine, Frank Korva, has this one.
On Monday, 09/08/2025,

(34:33):
Nepalese youth began protesting on the streets of Kathmandu
in response to the Nepali government's banning 26
major social media platforms on Thursday,
09/04/2025.
At the height of the protest,
the Nepalese protesters began downloading BitChat,
a new app created and developed by Twitter

(34:55):
and block founder,
Jack Dorsey, and open source developer, Cali.
The app,
a censorship resistant messaging app that harnesses Bluetooth
mesh technology
as well as the Nostra protocol,
and that doesn't even require an Internet connection to use, was downloaded almost 49,000
times on September 8 in Nepal according to data shared by CalionX.

(35:21):
The lesson here is that apps like BitChat are not only important tools to use in the wake of the blackout of centralized communication services and during protests,
but that they are instrumental in preserving rights that underpin free and open societies.
In our modern digital world, we must preserve the freedom to not only communicate online but also to transact in the digital space.

(35:44):
A tool like BitChat,
which currently enables the former,
should also soon enable the latter according to reporting from Forbes which cited Cali who voiced
his goal of enabling Bitcoin based eCash transactions via BitChat in the near future.
By embracing tools like BitChat, Bitcoin, eCash and Nostr, FreedomTech staples,

(36:08):
the Nepali
youth
can help to prevent the type of abuse of power that they just protested against.
For example,
Nostr and the various social media clients built on top of it cannot be banned,
they cannot be shut off,
which means the Nepali government
wouldn't have even had the power to take the action that sparked the protests.

(36:32):
FreedomTech doesn't just exist to help people fight the battles to get their freedom back.
It's there to help them maintain it as well.
And that's the end of Frank's art very short article here.
And, yes, I know I've talked about the Nepalese
youth or the Nepalese youth or however you wanna pronounce it yesterday, but

(36:53):
I think it's I think it's worth reiterating.
You're talking about a whole group of people that burnt their parliament down,
burnt the prime minister's house down,
burnt the supreme court down. We're talking to ash.
I mean, or at least to hulks of buildings that are basically fully gutted at this point.
I mean, a complete devastation of these things. And it wasn't just the prime minister's house. There was a couple other I think the home minister's house got burnt down and a couple of other of the minister's house got burnt down. They were taking politicians and chucking them into the river. I mean, talk about a people who've who's basically essentially had enough.

(37:30):
I mean,
I'm looking at Nepal, and I would have never expected this from from Nepal. Nepal is generally speaking fairly quiet.
They're not really ever in the news.
They right now, they certainly aren't in our news
because God forbid that the mainstream media in The United States,
gives anybody any ideas. Right?

(37:51):
Right. Well, we're not done,
not by a long shot, because this is out of Forbes magazine.
That's right,
Forbes, and not some kind of offshoot of Forbes. No. Actual forbes.com.
Jack Dorsey's BitChat gains traction during Nepal's unrest,

(38:11):
written by Haviar
Bastardo, who is a contributor.
The Nepalese government blocked access to 26 major social media platforms on September 4, including Facebook, X, YouTube, and Instagram.
The decision triggered protests in Kathmandu,
largely led by young people.
I I'm pausing to say, I don't think it was just young people that were involved in this.

(38:37):
But just five days later on September 9, demonstrators
stormed
and set fire to key government buildings,
deposing the administration,
as the BBC reported.
Meanwhile, an app called BitChat,
which is gaining traction among Bitcoin users because it uses Bluetooth mess meshes

(38:58):
and the Nostra protocol to emulate the peer to peer nature of Bitcoin saw
a sharp increase in downloads
across Nepal
with thousands of new users.
BitChat was initially introduced on July 7 as a weekend project by open source collaborators that included Jack Dorsey,
the cofounder of Cash App, who developed the iOS version of BitChat.

(39:21):
Then the Android version was built by a pseudonymous open source developer called Cali,
a Bitcoin focused technologist who expanded BitChat's capabilities.
BitChat is a decentralized
peer to peer messaging app that runs over Bluetooth mesh networks
with a hyperlocal
focus.
It's not possible to say how many people in total now routinely

(39:44):
use the app, only
how many users are online in a specific region at the time.
Most importantly, BitChat requires no names,
phone numbers,
servers,
or even an Internet connection.
As the Nepali
population prepared for a possible nationwide Internet blackout following the social media ban,

(40:06):
users began recommending BitChat across platforms like Reddit.
One Reddit user on the subreddit Nepal wrote, quote, no.
I don't mean banning some popular chat websites, though I believe that would be enough for an Internet blackout for most people.
I mean
actual Internet blackout, end quote.

(40:28):
Among the various alternatives circulating online, BitChat stood out as a promising offline solution.
And here is a, like, a couple here's a screen grab of a couple of the
post in the subreddit
r Nepal.
One says, download BitChat fast, please.
Another,
install BitChat and any other way to communicate when Internet is taken down.

(40:52):
Another,
download BitChat, the decentralized
p two p Bluetooth based chat app. And then yet another, we need Bluetooth
chat ASAP.
And finally, some people are saying Internet might go down. Let's be prepared.
According to Cali on x, the app saw over 48,000
downloads just on September 8 alone from Nepal,

(41:15):
which represented more than 38% of total installs at the time. The app now continues to gain traction around the world. The second largest user group so far is in Indonesia, which has its own political strife, representing more than 11,323
downloads.
Quote, last week, we observed a sudden spike in BitChat downloads from Indonesia

(41:36):
during nationwide
protest,
but today, we're seeing an even bigger spike from Nepal
during youth protests over government corruption
and, of course, the social media ban. Freedom tech is for the people. Please share, Cali posted via x on September 10.
Unlike mainstream chat platforms that depend on servers or, God forbid, centralized

(41:59):
networks,
BitChat's hyperlocal Bluetooth mesh approach
becomes crucial when those services are either blocked or surveilled.
Quote,
in the worst case,
it could be the only method for communication that's still available, Cali told me in an email interview preferring to stay anonymous due to the security risks associated with cypherpunk projects.

(42:23):
Quote, it's similar to Bitcoin in that regard, end quote.
Like Bitcoin, BitChat is built for censorship resistance
and accessibility.
In times of political unrest or financial repression, tools that bypass centralized platforms become invaluable.
Bitcoin allows users to send money without intermediaries.
BitChat enables communication in much the same way, making it useful even when the government tries to restrict or monitor digital exchanges.

(42:50):
They represent two varieties of the same approach to technology.
BitChat isn't yet in its final form. In fact,
following recent use cases in Indonesia and Nepal,
Cali added that developers are working on adding
financial
capabilities
using Bitcoin and eCash.
The goal is to use the infrastructure and functionality

(43:13):
that the app already has
to enable private financial exchanges and even support commerce.
The direction
is also to integrate Bitcoin through Cashew,
Cali explained.
Cashew is an open source Chaumian e cash protocol for Bitcoin that allows users to send and receive Bitcoin payments in various ways.

(43:35):
Cali has been involved with research related to that project since long before Dorsey unveiled the new messaging app.
Using Cashew,
even an emoji
could carry an embedded amount of Bitcoin. After all, Bitcoin transfers primarily require numbers and letters,
not centralized payment processing platforms, as long as that message is broadcast to the global network.

(44:01):
By
by combining Bitcoin's censorship resistance
with BitChat's communications
infrastructure,
the BitChat experiment not only offers a reliable tool for people in times of unrest,
it could also unlock a new wave of private and secure commerce
for the twenty first century.
That's the end of Havier's article.

(44:22):
And I wanted to bring that to you even though many of you who have listened to me, you know, over the at least over the past month minimum
know about all this, but I find it fascinating to read it out of Forbes
without
any
moral
baggage that's coming along with it. The only the

(44:44):
the the real problem that I find with this article
is this
continuous
use of the Gen z pro protest,
the youth protests.
Yes. There's a lot of young people in these pictures. You know what else I see?
People that are not exactly all that young.
It's not like the old people, you know, the the people that are, like, 45

(45:08):
and 50 years old are staying in their houses.
That's the this is the only narrative
that's being carried forward
into this article that I find
essentially problematic.
I'm calling complete bullshit on it, in fact. But
after that,
this is a pretty clean article
that is,

(45:28):
again, aside from the
you use of youth protest,
carries no narrative baggage. He's just stating the facts. And the fact that it's coming out of Forbes
is, again,
fairly surprising for me.
But with all that said, I want to take everybody back to the very end of this article,
and I wanna read this last one.

(45:50):
By combining Bitcoin's censorship resistance
with BitChat's communication
infrastructure,
the BitChat experiment not only offers a reliable tool for people in times of unrest,
it could also unlock
a new wave
of private and secure commerce for the twenty first century.
Now,
let's look

(46:11):
at the very let's go back to the very first of the show.
The Patriot Act
and not even being able to spin up another address.
I had the the thought that I have to reuse the same address over and over and over again, which is bad,
bad
OPSEC. It's bad. It's just it's just you don't wanna do that. And yet the Patriot Act, if if if we let this shit go through, is gonna be doing exactly that.

(46:41):
These two things,
you know, are violation of our first amendment right to free speech in The United States.
But the Patriot Act allows it to occur because
terrorism.
Right? And I got that in quotes. It's all about terrorism.
It's the terrorists.
They're gonna kill us all. They're gonna it's like they're terrorists down my block right now. Look. There's there's this dude walking down the street minding his own business,

(47:07):
clearly a terrorist. So, therefore,
I get to lose my right for free speech.
So what what am I saying?
If we start combining
Bitcoin inside
of
chat apps like BitChat,
then we further reinforce the notion of, by the way,

(47:30):
Patriot Act or no,
the first amendment
should actually trump that. And it actually should anyway, but it would be a reminder to people that I'm able to
use Bitcoin
inside of something that is clearly protected by the first amendment in The United States Constitution.

(47:51):
Clearly protected.
It's the first
it's the first
thing in the bill of rights.
And if you don't understand how the bill of rights works,
before
any of the people that signed the Constitution of The United States would sign it,
they demanded
that certain rights be enumerated

(48:14):
inside that Constitution. So what they did is they drafted a Bill of Rights
and they said,
unless this
is attached to this,
then we're not signing that,
and you can go fuck yourself.
And you won't have a union.
You won't have a federation of states.
You won't we won't get that. We'll have to do something else.

(48:37):
And the people that said they just said okay. You know? The the and this is like
you'd probably have to read the articles of federation and the, you know, the federation letters. There's a a couple there's also the anti federation stuff.
So there were clearly
factions
saying, well, we really we just need the constitution, but we we don't really need to enumerate these rights. And the other faction was saying, bullshit. If you want my signature, you will put these rights in the constitution.

(49:05):
I don't care what the Patriot Act says.
The Patriot Act and all acts
live and breathe and exist
underneath the constitution.
And that constitution is a contract signed by people who told the other people, we will only sign this if we are guaranteed

(49:25):
these 10 bill these 10 rights
that we call the bill of rights. And the very first one
is freedom of speech.
We we bought a lie in the Patriot Act. The Patriot Act is unconstitutional.
The act itself,
the only reason it can come about
is because that which is the instructions

(49:48):
and protocols which are set forth in the constitution of The United States. And I've already told you
that contract
was never going to be signed
unless we had freedom of speech.
Everything about the Patriot Act is wrong, and we can debate
that all day long if we want to. But it's unconstitutional

(50:11):
when it comes to stifling freedom of speech.
And the second that we put Bitcoin
and the ability to transact with each other in a monetary fashion and commit commerce
inside
a speech app
is protected by the First Amendment.
Now it's a little naive. I will I will admit that.
Just saying, well, just because you can put commerce inside of a of an app that's was primarily designed for speech doesn't necessarily mean anything.

(50:38):
I'll I'll I'll grant you that, but I'm not gonna back down from the argument.
I'm certainly not gonna back down from the fact that the Patriot Act is clearly a violation of the constitution of The United States, and everybody that signed their name to it needs to be in prison
right now.
Like, don't wait. Don't don't don't wait for you know, to pass go. Don't collect $200

(50:59):
go. They need to go straight to jail. Every single one of them. And anybody who signed that that is now dead
or had a part of of drafting that act that is now dead,
if they got any accolades or any medals or any honors, they all need to be stripped.
They need to to basically die a nobody. They need to be stripped. Their names need to be stripped from the roles of Congress.

(51:22):
Their Their names need to be stripped from
the human resources department of the United States. They need to literally it was like they never existed in inside the federal government.
That's how bad the Patriot Act is. And any act
that would be signed into law
that would

(51:43):
disable us to commit commerce with each other as free and private citizens of The United States.
George w Bush needs to be stripped
of his presidency.
I I I and I'm a I'm fairly conservative.
And he was like, quote, unquote, a conservative president. He really wasn't.
None of these people really are what they say they are, but be that as it may, he's the one he's the one that signed it.

(52:09):
And as vice president, he they they all need to be basically taken off the rolls. Will it happen? Of course not. It's it's it's it's juvenile to even think about. But that's what should happen.
The minute that we put Bitcoin inside of BitChat,
whether it's through eCash or Lightning, I don't really care,

(52:31):
then we're going to be able to demonstrate
that we believe more in the constitution of The United States around the world than the federal government of the United States does itself, and it's going to make them look like fools,
like clowns. And that is exactly
how we should continue to make them look. We should make them look unpatriotic.

(52:51):
We should bring to light the fact that they are terrorists.
We should bring to light the fact that they are not siding with the American people,
that they are in fact siding for,
for lack of a better term, organized crime.
Now it's my 2¢ on it. Let's go do this one.
Asset entities,

(53:12):
the company,
merges with Strive,
another company,
to build a 1,500,000,000
treasury. Oh, they're right on. They missed the boat. Dude, haven't you heard? It's the end of paper Bitcoin summer.
Asset entities
shares are up this week, yeah, for a little while, after shareholders approve the merger with Strive Enterprises.

(53:35):
And it will create
a 1,500,000,000.
Asset entities,
which is a social media marketing company, by the way, is completely pivoting into the world of Bitcoin,
pausing to say, is it possible that we can already make the assumption because of this announcement that asset entities
is a failed social media marketing company?

(53:58):
I'll bet you they are.
Asset entity stocks saw a whopping 102%
rise during regular trading on Tuesday and Wednesday closing at $8.10
and then went up as much as 14%
the next day to $9.25
a share.
The excitement. Oh, it's so exciting at this point. The excitement comes as investors are buying into the company's plan

(54:24):
to raise up to 1,500,000,000.0
to buy Bitcoin,
which would be around 13,150
BTC at current prices. And that would put the company in the top 10 largest corporate Bitcoin holders in the world.
Asset entities previously focused on social media services across Discord, TikTok, and Instagram.
But after the merger, the company will be renamed Strive Inc

(54:47):
and keep the ASST
ticker symbol on Nasdaq.
Matt Cole, currently head of Strive Asset Management, will be chairman and CEO.
Arshaya
Sarkani,
who led asset entities, will be the CMO
and on the board of directors.

(55:07):
Cole called the shareholder
approval a defining moment adding, quote, we are uniquely positioned relative to peers
to execute our strategy
and maximize
Bitcoin for share or Bitcoin per share for investors. Jesus. It's just it's the same.
It's almost as if they just said, who's got a good mission statement? Who's got the best suit speak about Bitcoin per share? Or yeah.

(55:36):
Jesus. Really? They couldn't come up with anything other than we are uniquely positioned
relative to peers to execute our strategy and maximize Bitcoin per share for investors.
You couldn't come up with anything else. Yet no nobody in the room had
any kind of
imagination
whatsoever
to differentiate yourself from the crowd other than to say, look, we're different.

(56:02):
Why don't that I should get paid a quarter of a million dollars to be sitting in these rooms. Jesus, for the love of anyway, the merger is a reverse
merger structure, which analysts say is safer than the more speculative SPAC deals that were popular last year.
The plan is for 750,000,000
in funding through a private placement

(56:22):
and another 750,000,000
if warrants are exercised.
Strive will remain debt free, which Cole says gives the company a long term advantage.
The strategy is not just to hold Bitcoin, but to
outperform
Bitcoin itself
over time. That that's your strategy.
How?

(56:43):
How that's not a strategy. That's a goal.
Oh my god.
This is why paper Bitcoin summer has become so goddamn dangerous.
Strive will also be looking to acquire distressed Bitcoin claims.
The vultures are circling.
They have looked into buying around 75,000
BTC

(57:04):
tied to the collapsed Mt. Gox exchange,
which would give them exposure to Bitcoin at a discount.
A recent filing mentioned this could increase the company's Bitcoin per share ratio,
a metric that's becoming more popular with investors.
Freaking ghouls, man. The news has gotten both retail and institutional investors buzzing. Yeah. Like vultures.

(57:25):
Data showed message volume about asset entities on stock wits went up over 370%
in twenty four hours.
Some even calling for the stock to go to 100
in the short term.
Meanwhile,
institutional interest in corporate Bitcoin treasuries is on the rise. I don't think so. Public companies now hold over 1,000,000 in Bitcoin

(57:49):
or about 5% of all coins in circulation. Michael Saylor's strategy is the biggest player. Yes. We know. We don't need reminding.
Adding Strive to the list shows just how mainstream Bitcoin has become in corporate balance sheets.
Shareholder approval was a big hurdle, but the merger is not yet done.

(58:10):
The close is still subject to Nasdaq approving the listing for the combined company and other standard regulatory
approvals.
Gee, I wonder
I wonder
if they will look at the statement where they say that the strategy is to outperform Bitcoin itself,
which is not a strategy.

(58:30):
It's a goal. And the fact that you can't even use words the way that they're defined
would be a big red flag that maybe, just maybe,
management of either one of these companies is not really prepared
to be approved
to merge
so that they can buy $1,500,000,000

(58:51):
worth of Bitcoin.
This entire thing
is almost a poster child
for everything that's already occurred
past,
the fir the five top companies that hold Bitcoin. And I I mean, like like, I'm talking about the most Bitcoin held.
Those guys were early actors. They were well positioned. They've got good management.

(59:16):
They'll probably survive, but '6 through
03/1957
or whatever it is at this point,
not gonna survive,
and this one won't either.
Now
will they laugh at if if Cole and and the other guys in this company hear this podcast
and they and they survive
and they start laughing at me, will I have my feelings hurt? No. I will thank God that they didn't that they didn't fold because that means that people didn't lose their jobs. I would like nothing more than to be wrong about this, but this shit's not going to work anymore.

(59:49):
It's just not going to work.
Let's get onto the final one for the day. Bitcoin hash rate difficulty
hit record highs as minor supply spikes.
Akash
Gheerimath
has it for decrypt.
After Bitcoin's recent price surge sought break a two week high amid multi week record inflows to US bought Bitcoin ETFs,

(01:00:13):
Hash rate and difficulty
have also hit new all time highs.
Bitcoin's hash rate,
hit 1,120,000,000
terahashes per second on September 12 per bit info charts.
The network's difficulty, which is a measure of how computationally hard it is for miners to find a new block on the blockchain,

(01:00:34):
also touched a record high of 136,040,000,000,000.
Hash rate is the total computational power of all miners that secure Bitcoin.
The difficulty in finding a block increases once every 216
blocks are mined.
Wait a minute.
No,
or roughly every two weeks as it increases if the hash rate increases.

(01:00:57):
That's a terrible sentence. Let me let me let me reword this for you.
The difficulty in finding a block
changes
once every 206
no. 2,016
blocks are mined or roughly every two weeks. It increases if the hash rate increases,
and it decreases if the overall hash rate has decreased,

(01:01:20):
but that's on average.
It doesn't just increase.
That's
editors
get an editor.
The next difficulty adjustment per coin wears is scheduled on 09/18/2025,
and the current estimate puts the value up 6.38%
to a 144,720,000,000,000.

(01:01:42):
With such a huge spike, Varun Sathyam,
cofounder of DeFi platform Davos Protocol,
told Decrypt that these windows often cause smaller or inefficient miners to scale back while light larger efficient operators
hold or even accumulate
positioning for the rally to recover their capital expenditures.

(01:02:04):
What with the highly anticipated
Federal Reserve rate decision, which is due, listen up,
September 17,
so
early next week.
And risk on markets prime for a 25 basis point rate cut, investors are bullish expecting Bitcoin's price to push higher.
This outlook coincides with the uptick in miners reserves bouncing to a fifty day high of 1,800,000.0

(01:02:30):
BTC on December 9 per crypto quant data.
Satayam
explained that hash rate surges post having
have historically preceded price rallies. Quote, we we may be entering a similar phase now, he said.
Bitcoin is primed for a decisive upward move with altcoins riding shotgun. Sorry, guys. It's part of the article.

(01:02:53):
I
you know me. I don't like speculation as far as price is concerned, and I sure as shit don't like, oh, it's alt season.
Users of prediction market Myriad
launched by Decrypt's parent company, Dastan,
are more sanguine.
While over 80% expected to hold above a 105,000
through September,
they're more evenly spit on its split on its broader outlook with just 56

(01:03:19):
expecting it to top a 125
by year end
versus 44%
who see it dipping under $1.00 5.
Bitcoin is currently trading at just under 115,000,
up point 8%
on the day and 2.3%
for the week. So there you go.
There it is.

(01:03:40):
What to say at the end of this as you go into the weekend? It's been a very tough week.
It's been it's been an awful,
awful week.
And it's up to us to make sure that the weekend
and the days after this
terrible expenditure of negative energy

(01:04:00):
is positive for us and positive for others. Even even I snapped at my kids this morning. I freaking lost it. You know, I apologize, and I will apologize to them again, you know, later on, but it's definitely not the way to start school.
I'm I'm guilty I'm just as guilty as everybody else for letting the the the events of this week affect me. I tried not to. I really did.

(01:04:23):
I thought I'd be able to get to the weekend without any kind of incident, but alas, I have fallen.
You know, I'm human, and this week was really, really tough.
I'm gonna have to put a lot of work in,
you know, for the on over the next well, over over the next forever for me, at least until they put me six foot under, to do everything that I can to be in a positive mood, to be in a good mood, to exude positive energy, but I'm human.

(01:04:51):
I'm going to fail, and there's just there's just no way about it.
If you're feeling like you just got hit by a train this week, that's that's not your fault.
You got hit by a train this week.
Whether
you
like
Charlie Kirk or not, and it's not just him.
It's what's going on in Nepal and France and the woman on the train.

(01:05:15):
And I there's probably two or three handfuls of shit. I mean, there's crap going down in Indonesia.
You know? Like, the the Keir Starmer every single day puts out some kind of nonsense on x, and he just gets
savaged in the comments,
and yet it's it's like watching somebody who just doesn't care about you

(01:05:39):
rub it in your face.
And and watching actions like the the people that were next to that poor woman on the train just get up and leave like it was nothing was going on,
like she was the problem.
You know?
That's that's sort of a mirror image of Keir Starmer being just

(01:06:00):
so blind
that he would go to x and and and make statements that are clearly false.
I'm doing everything that I can to protect UK. No, you're not.
You wouldn't you wouldn't have the problems in The UK if you were actually doing that. You're you're you're rubbing it in people's faces at this point.

(01:06:20):
You know, the the the the people in Nepal, they burnt down their parliament. They burnt down their Supreme Court. They were tossing politicians into the river. Yet almost like all of our media
is almost completely silent about it.
Nobody's really talking about what's going on in France.
Nobody's really talking about what's going on in Indonesia.

(01:06:41):
I mean,
not unless you go look for it. Sure. You well, CNN's got a story right here. All you had to do was search for it. Yeah. That that's not how most people get their news about shit. They have to hear about it first.
Maybe they hear about it on social media,
you know, but
chances are good unless
you're unless you're on Nostra or or God forbid x, you're probably not hearing much about any of this. This is where I'm finding out

(01:07:06):
about these things. I would have never I if I was just watching MSNBC
or Fox or CNN
at the gym, and I do, like, because I've I've, you know, we'll get on the treadmill and look at the bank of TVs, and I'll see CNN and Fox News right next to each other, and I have to go home to find out what actually happened.

(01:07:26):
That
that that's what I mean. You're we're not covering any of this because it is not in their interest to cover any of this. Instead,
I get how pissed off
Whoopi Goldberg is at RFK
for making it more difficult

(01:07:47):
for the people that pay her salary, the
pharmaceutical companies, because in the end they do.
There's 70% of all the advertising of televised media right now, if not, you know, a whole bunch of other different media.
That's how she gets paid, and she's really pissed off at RFK
for making it more difficult for them to be able to advertise on television

(01:08:08):
when we are one of only two countries on the planet that allow it to occur in the first place.
That that's that's the news that I get if I'm
expecting
news to be delivered to me, expecting
important items that are going down during the day to be delivered to me without me actually going, what could is there something like like, for instance, should I check on Bangladesh today? Because I haven't heard anything about Bangladesh.

(01:08:36):
Maybe there's something going on in Bangladesh. Should I do that?
Do I need to do that for a 174
countries
or however many countries there are in the world right now? I think it's right around a 174.
Should I do that?
No. That that that's actually ridiculous.
That's why we have the news. Hey. This is important. This is going on. And yet the news that we have been delivered for the last ever honestly, ever since 09/11/2021

(01:09:03):
or sorry. 2001
has been absolutely
vapid,
vacuous,
no substance,
no weight,
no import, no meaning, no nothing.
Instead, for the last twenty four years, we've had to depend on others,

(01:09:23):
each other,
to tell us what's going on. We've had to disseminate information that we think other people might not know and we think is actually important. And you know what I've never talked about other than just a couple of minutes ago? Whoopi Goldberg and how she feels about RFK. Why? Because it is not important.

(01:09:44):
It's just
not. This week has been tough.
I'm actually,
god honestly, surprised nothing really terrible happened yesterday
on September 11. I was half expecting it to.
I was expecting that we have been softened up by this week's, you know, events

(01:10:06):
so that we would be able to ingest some horrific thing on September 11, twenty four years later.
I don't know. Maybe they'll do it next year on the on the quarter century
anniversary
of nine eleven. Who knows?
But the very thing
that came out
of nine eleven
twenty four years ago

(01:10:28):
is the very thing that is threatening us again today.
That's the Patriot Act.
And everybody's
imagination
and energy needs to be bent into figuring out how do we get rid of this thing. Not just get it to where it's not worried about Bitcoin,

(01:10:48):
that just isn't enough.
If we don't kill it,
if we don't become
what did I I saw something on it was I think it was on I think it was on x yesterday
from Bitcoin or not Bitcoin, from Texas Slim.
He'd retweeted somebody that I guess had a cut from Yellowstone, and

(01:11:10):
Kevin Costner was telling telling his son, it's like, you have to kill evil, and the only way that you can kill evil is to become meaner than evil.
I really wish it wasn't that way, but he may very well be right, even if it is from a movie.
This this Patriot Act and the people around it
need to be

(01:11:30):
they just need to be forgotten
with extreme prejudice is the only other way that I can say it.
We cannot listen to these people. We cannot allow them to bathe in our lives.
This is a private bathtub, dude. Get out.
My privacy is important. Your privacy is important.

(01:11:50):
And the very thing,
the very creature from the Black Lagoon that arose
twenty four years ago is still with us.
It keeps getting reenacted.
It has to stop.
How do we do it?
See you on the other side.
This has been Bitcoin, and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.

(01:12:15):
Have a great day.

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