Circle P:

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:01):
It is 08:44AM
Pacific Daylight Time. It's August
2025.
This is episode
eleven fifty seven
of Bitcoin
and crypto advocates are warning congress about something something.
It's all the news you can use about Bitcoin and more here on the Bitcoin and podcast. This is why

(00:26):
you are tuning in because I curate all the good stuff
and get rid of all the bad stuff. El Salvador is also gonna be in the news.
It's possible
that we've got a president of a nation
jacking with markets.
Probably not in the way that you think. The CFTC
wants

(00:47):
crypto surveillance and Tether
is pissing people straight off right now
because,
well, we'll get into that one. And I promise you that we are going to talk about some Bitcoin Treasury companies. Oh yes, because they're
not stopping.
Sequins is leading that one. And then, and then Google,

(01:09):
as if you thought
Blockchain not Bitcoin was over?
Oh no.
No, no,
no.
When Google
when Google is making mistakes like this,
Google's on its I think Google's on its way out. I I really do. I know that that is an that is an insane thing to say,

(01:31):
but Google has not been able to match anything
remotely resembling a decent AI.
I I now use
AI to to do basic searches for for what I want on the Internet. It's it's replaced
it's replaced Google for me, at at least at that point.
And now

(01:52):
given what I've just read
about what Google's talking about with Blockchain,
I I honestly don't think that they're gonna survive.
And honestly, I'm just I'm gonna extend that shit to Apple too.
I
I I look at Apple and I'm like, you haven't innovated at all. They've released their new iPhone and all it is is thinner.

(02:15):
And it kinda doesn't really look all that much thinner. And when you go from I think they're saying it's
5.5
millimeters
wide or or thick, and the last iPhone they did was 6.8 millimeters.
If your innovation
is like, you know, like sub one millimeter in thickness, I'm not sure that actually counts as innovation.

(02:39):
And Siri still sucks.
So I I don't know, man. I'm looking at Google and Apple
kinda sideways right now, but we are gonna finish off today's show
with yet one more cautionary tale. This time, we're gonna go back to France for it. But first,
Bitcoin and crypto advocates warn Congress,

(03:02):
protect developers
or lose industry support.
This is by Frank Korva.
Bitcoin magazine, the DeFi Education Fund has penned a letter
to the United States Banking Committee with support from over a 110 crypto builders, investors, and advocates urging congress to,

(03:22):
quote, provide robust
nationwide
protections for software developers
and non custodial service providers and market structure
legislation, end quote.
The letter,
which has been signed by Bitcoin Policy Institute, the Blockchain Association
and the Digital Chamber,
just to name a few of the signatories,

(03:42):
states that crypto market structure legislation
must
protect developers
if the broader industry is to support it. Quote, without such protections,
we cannot support a market structure bill, reads the letter. The letter draws a line between the regulatory framework that exists for the traditional
intermediated financial world and the world of open source development, which requires

(04:07):
protections for developers
so as not to force them into, quote, unworkable
regulatory
categories,
end quote.
If The United States
is to fulfill president Trump's vision of becoming the, quote, crypto capital of the world,
states the letter, it must continue to welcome cutting edge software development

(04:29):
in the digital space as it has since the earliest days of the Internet.
And according to the letter,
the total share of open source developers based in The United States dropped
from 25%
in 2021
to 18%
in 2025, which is attributed to a lack of regulatory clarity for software development.

(04:51):
The letter expresses gratitude for both the House and the Senate, having included language from both the Blockchain Regulatory Certainty Act and the Keep Your Coins Act that protects developers of noncustodial
crypto software in their respective drafts
of the Clarity Act. It stressed that it's imperative that these protections be kept in the bill and that these protections must make explicit that no individual

(05:16):
or entity
is subject to regulation solely or engaging in activities that are core to
creating,
developing,
publishing, and maintaining
blockchain networks nor
for enabling users to access such networks via software interfaces
while maintaining custody of their own funds.

(05:38):
And finally,
the letter points out that protecting
software developers
is bipartisan,
highlighting the fact that a bipartisan super majority of two ninety four members of the House of Representatives
voted in favor of the Clarity Act and urges the Senate to improve upon developer protections

(06:01):
in its draft of the bill. So what's going on in this letter that's been written? They're the
some of the largest players outside and you can include you'll you can just call them lobbyists.
Some of the largest
Bitcoin and God forbid crypto lobbying
entities in The United States

(06:21):
are telling
United States Congress that they are going to pull their support
altogether
for anything approaching
this clarity act and and other kinds of legislation that would be coming through
unless they guarantee
absolute shielded protections
for the people that develop

(06:42):
this space.
I I honestly think that this is good. This is somebody at least at least they're trying to put their foot down. Now, will they keep their feet down? Well, that's another question entirely, but at least at least they've done this.
Let's
take a little trip
down south

(07:03):
to El Salvador,
where Naib Bukele reacts as a $1,000,000,000
Bitcoin holding bet
increases
on Cauchy, and this is Helen Parks out of Cointelegraph.
Naib Bukele called attention to prediction markets
amid increasing bets that the country's

(07:24):
Bitcoin holdings will hit $1,000,000,000
by year end.
Well, Bukele took to x on Wednesday to tweet about Calshi's prediction market, which shows increasing betting activity on El Salvador's Bitcoin holdings hitting 1,000,000,000
by late twenty twenty five. Quote,
I could do the funniest thing right now,

(07:45):
Bukele said as the odds of El Salvador hitting a $1,000,000,000
Bitcoin milestone before November
jumped from 20% to 38% on Kalshi.
Soon after Bukele's post,
rival platform Polymarket listed a similar bet where the odds of a $1,000,000,000
Bitcoin milestone by December stood at 43%.

(08:09):
Calshi's prediction market on El Salvador's $1,000,000,000 Bitcoin holdings has been active since mid August
with the, quote, before December
2025
bet holding near 24%
and before November 2025 hovering at around 18%
up until just the last few days.
Following the spike to as high as 38%,

(08:31):
the before November 2025 bet dropped to 27, while the before December
2025
bet hovered at just around 35.
While Calshi had been tracking the odds of El Salvador's Bitcoin holdings reaching $1,000,000,000
for several days, rival platform Polymarket
only introduced a similar market following Bukele's tweet.

(08:55):
Quote, new poly market.
Will El Salvador hold $1,000,000,000
of Bitcoin by question mark,
end quote, the platform posted on x just hours,
hours, mere hours after Bukele highlighted
Calshi's market on Thursday.
Cointelegraph
approached Calshi and Polymarket for comments regarding

(09:17):
the market listing policies, but they haven't said nothing.
While Calshi and Polymarket are set to capitalize on the rising optimism around El Salvador's Bitcoin holdings, neither of the platforms
created betting markets concerning a previous controversy.
In July, El Salvador central bank president Douglas Pablo Rodriguez Fuentes

(09:39):
and minister of finance
Kyrgios
Rogelio
Posada Molina claimed that El Salvador had stopped buying Bitcoin after signing the $1,400,000,000
loan deal with the IMF
in 2024.
Well,
despite these claims
being part of El Salvador's official communication with the IMF,

(10:00):
Bukele and El Salvador's Bitcoin office continue tweeting about new Bitcoin purchases
with current holdings now being reported at 6,282
Bitcoin or about 709,000,000.
As of now,
neither Juan Carlos Jerez,
president of El Salvador's National Commission on Digital Assets, nor any other contacted parties, have responded to Cointelegraph's

(10:25):
request
in July
asking them to clarify
this controversy.
The news came amid the prediction markets gaining momentum with former Polymarket and Kalshi executive,
Tony
Gemmael,
I guess that's how you pronounce it, announcing a $15,000,000
raise from investors like Coinbase Ventures
for the prediction market platform clearing company.

(10:49):
And that that that's the name of the company is clearing company.
Okay. So what
this could so go either way.
It could so totally go either way, man.
For for instance, when when Bukele said I can do the funniest thing right now, I think a lot of people
thought immediately that he would just go ahead and and kill those, you know, kill those bets by simply just buying a shit ton of Bitcoin right now.

(11:18):
But, you know, he could go the other way. He could actually dump
some Bitcoin right now just to screw those those betting markets up.
And it wouldn't surprise me, I've seen a lot of people do a lot of strange shit with their bitcoin
just to, I don't know, flex muscle.
You know, somebody saying, you know what, I'm just gonna drop 24,000

(11:38):
coins on the market. You know what, I'm just I'm just gonna sell this 80,000.
You know? I'm a whale. I I deserve to to not actually have as much Bitcoin as I used to have so I can sell it into cash so I can sit on this melting ice cube that I've, you know, this newly melted ice cube that I've just purchased.
It's all bullshit.

(12:01):
Bukele
is just one of these people that you don't really know what the hell he's gonna do. What I'm actually more interested in
is that nobody
from El Salvador
seems willing to clarify
whether or not they're actually buying Bitcoin
even after they've made the deal to not buy Bitcoin
with the IMF and their $1,400,000,000

(12:24):
loan, which brings me to a whole
another,
which is not a word, but a whole other
aspect of this is why did they take the loan in the first place?
I've bitched about this before. I'm not gonna go into it again
other than to say that country has been completely turned around.

(12:44):
For what reason
do you need to crawl back into IMF's bed?
She's not
as hot as you think she is. Just saying, Bukele. You might wanna get your beer goggles off your face because that is one ugly bitch right there. Anyway, let's go on and talk about the CFTC.

(13:06):
It's come to my attention because of Andrei Berganski
through Decrypt that the CFTC
wants to surveil crypto
and prediction markets using the Nasdaq platform.
Wow. So coming out of one prediction market into the surveillance of said prediction market, the Commodity Futures Trading Commission is stepping up.

(13:29):
Their efforts to surveil financial markets
tapping technology from Nasdaq
to gain a more granular view of crypto transactions.
Wow. Talk about barking up the wrong tree.
Anyway,
according this is according to a press release published by the regulator on Wednesday.
Nasdaq's market surveillance platform, which covers a dozen asset classes, including digital assets and prediction markets,

(13:54):
represents a significant upgrade,
the CFTC said, as it moves to replace its nineties
era legacy system for detecting illicit behavior among market participants.
Prediction markets have been buzzy,
with the president's son joining PolyMarkets
advisory board on Tuesday. Shit. I missed that one. Still still,

(14:16):
a Nasdaq spokesperson told Decrypt that prediction markets mere derivatives
that the CFTC
has regulated
since the agency
was established in 1974.
Gotta pause.
If you needed any confirmation
that
you thought derivatives were quote unquote sophisticated

(14:36):
investment products that nobody can understand but the guys on Wall Street,
this is what proves that wrong.
Derivatives
are nothing but gambling.
Dressed in a suit
outside of a casino
that you're used to seeing as a casino,
but still firmly planted in a casino that you don't recognize as a casino.

(15:00):
Most people don't. You might. I hope you do. I hope you've been listening long enough that you that you realize that this is all a circus.
It's a huge casino,
and all they want you the reason they give you free drinks at a casino
is to get you fucking hammered,
lit up, so that you will easily part with your money, that you will make more bets because you're inebriated,

(15:26):
which means you're mentally impaired.
It's this is the same thing.
Derivatives
are nothing but bets
and side bets on bets and side side bets on bets and side side side side side side side side side side side side side side you get the drift. If you wanna know more about it, I highly recommend that you go watch the movie The Big Short

(15:47):
and watch that song, bitch, four times
minimum
because that's how many times it takes to truly understand
or start to truly come to understand
just how bad derivatives
are.
They do nothing.
They do not discover price.
They do not enhance value.

(16:09):
They are there
to steal dumb people's money and give it to people who'd know more information than the dumb people.
That's all that shit is.
Continuing on, quote, prediction markets
operate in the same way as most derivative markets with similar potential for market abuse and manipulation.
The technology can therefore be adapted to serve almost all forms of event based markets. In my opinion, another pause, if you were to really do the service that you intend to do to the people of The United States and of the world, you need to make derivatives illegal.

(16:45):
They they this this shit needs to go away.
All its real effect is is to introduce noise into the market
so that regular people that can't sift through that much bullshit
has at least a fighting chance to figure out where to put their money to beat inflation.
Just saying. Anyway, continuing, at the same time, the CFTC acknowledged

(17:08):
that markets have changed rapidly in recent years with digital infrastructure providing round the clock trading. You mean gambling? Quote,
the growth in both traditional and new markets and products
combined with innovations and market structures such as the launch of continuous trading hours that the casino never closes
require

(17:28):
increasingly sophisticated
tools to prevent
and detect
potential market abuse, the CFTC said.
The shift also comes as US lawmakers mull the clarity act, a comprehensive piece of crypto
legislation that would establish jurisdiction between the US Securities and Exchange Commission and

(17:48):
our beloved CFTC.
The bill was passed in the house of representatives last month, and under its current text, most cryptocurrencies would fall under the class classification of a commodity
as opposed to a security,
removing them from the SEC's
regulatory
remit.
The CFTC noted that Nasdaq's market surveillance platform is already used by 50 exchanges. Oh my god. As well as nearly two dozen international regulators.

(18:16):
The regulatory
guide for crypto that was recently released by Nasdaq
notes that the CFTC has been exploring blockchain technologies
and applications
to strengthen
regulatory surveillance
capabilities,
end quote. The commission said,
it's in the midst of a, oh god, a crypto sprint

(18:38):
moving quickly
to implement recommendations from a sweeping White House crypto report recently released, which may end up putting new obligations on their intermediaries
that it covers.
The 166
page report recommended that,
quote, venues for non security digital assets

(18:58):
should be required to report market data
subject to reporting obligations
established by the CFTC
such as crypto exchanges and prediction markets.
The leading prediction market, Polymarket, recently acquired a CFTC regulated derivatives
exchange
for $112,000,000
as it eyes a return to The US.

(19:20):
The Nasdaq spokesperson
told Decrypt that the technology underpinning its platform can be adapted for use cases across all crypto markets.
The demand for institutional grade surveillance capabilities has increased as the crypto market
matures, they added. Okay. So let's see. They
I love this one. The c

(19:41):
Polymarket
acquired a CFTC
regulated derivatives exchange
as it eyes a return to The US. I wonder if that's a bribe
in a way.
Hey. We'll take this,
we'll take this exchange off your hands. We'll give you a $112,000,000
for it. Let us back in.
It's a little under the table money. Even though it's above the table, everybody can see it. What we're really doing here is we're giving you a bribe.

(20:07):
I don't know. I'm not that close to that fire.
But talk about fire. This one has pissed some people off Tether
to bring native stablecoin
rail to Bitcoin
with USDT rollout
on RGB.
And it's that it's that last point that is pissing people off. Naga Ivan

(20:29):
Namayo is writing this one for the block. C o. Tether
plans to roll out
its USDT
token on RGB,
a smart contract and asset issuance protocol
anchored to Bitcoin
that's compatible with the Lightning Network expanding native

(20:49):
stablecoin support on the world's largest blockchain according to a Thursday announcement.
RGB
lets issuers mint and move assets that are cryptographically
committed to Bitcoin transactions but validated off chain
between counterparties,
reducing on chain footprint while inheriting
Bitcoin security guarantees. Gotta pause right there to say,

(21:14):
not really.
I I don't buy that.
And I think that this is kind of what what's pissing people off is the fact that they're
they're using this other chain,
but they're trying to brand
as Bitcoin security, and Bitcoin security is there in quotes.
It inherits
Bitcoin security.

(21:35):
I'm not so sure.
There the minute that you break out of the Bitcoin
time chain
and its internal security guarantees, its internal time stamping,
its hash rate, its whatever,
the the consensus
rules.
Once you step outside of that plane of existence,

(21:58):
how much of
Bitcoin's
inherent
capabilities
and inherent
properties
really come with it.
I think the minute you step out of that that genre,
you get into something that's completely gameable.
But, again, I don't exist that close to the fire.

(22:21):
This is not the
quiet developer a podcaster is speaking meme. I I promise you. I'm not going there. I'm just saying
this is this is sort of like a this goes back to a purity test,
you know? And a lot of people don't like the purity test. I I get it. Hey. You're either Bitcoin or you're shitcoin. Well, I have Bitcoin, but I also own ether.

(22:42):
Well, then you're a shitcoiner and not a Bitcoiner. That's not the kind of purity test I'm talking about. I'm talking about security purity.
If you're inside
the whole 100%
inside the Bitcoin ecosystem,
that's purity of security.
Anything outside,
I think, is gameable.

(23:02):
But
that's left to be seen.
Continuing on,
in practice,
this inheritance
of Bitcoin
security guarantees
can enable near instant settlement over lightning and improve confidentiality
compared to legacy Bitcoin token systems such as Omni,

(23:23):
which embed more data on chain and become costly in high fee environments.
Tether said the integration is designed to make USDT transfers on Bitcoin faster, cheaper, and more private by using RGB's client side validation model instead of storing bulky token data directly on chain.
The move marks Tether's latest effort to diversify the networks that carry USDT.

(23:48):
It also follows its decision earlier this year to phase out support for less scalable chains like Omni,
EOS, and Algorand
by September to prioritize
high demand ecosystems.
While most circulation today sits on Tron and Ethereum,
adding RGB opens a Bitcoin native path for stablecoin payments and remittances

(24:10):
that can plug into lightning enabled wallets, merchant tools, and exchanges.
USDT is the largest stablecoin in the cryptocurrency
market. Yes. We know. The company has also been deepening its Bitcoin footprint through infrastructure investments and initiatives tied to broader ecosystems.
As of the 2025,

(24:31):
Tether holds over a 100,000 Bitcoin and has invested over 2,000,000,000
in 15 different mining facilities across
sorry. Latin America,
the first,
the firm plans to become the biggest BTC miner by the 2025.
Said
Paolo Ardoino,
no shit.

(24:51):
Tether's USDT expansion to Bitcoin
also coincides with a broader strategic shift. You're not really you're not really.
USDT really isn't expanding into Bitcoin.
They might as well have just used liquid network for this.
You know? Why they picked RGB? I I don't know. But, again, I'm not a developer, and I'm not a podcaster telling developers to be silent. I'm just saying

(25:15):
they could have just used liquid for this,
but
whatever.
Now all that said, all the all the criticism aside,
I honestly, for the love of god, do not understand why everybody is so up in arms.
You know, they're on Tron for God's sakes. Nobody I mean and, yes, there was backlash when they when they did that,

(25:36):
and then there was backlash when they put it on Ethereum.
And then and then I saw Bitcoiners cheering when Ethereum
you know, there are the the gas fees went up so high
that that's why tether
chose to to start doing their stuff on Tron.
I actually saw Bitcoiners cheer for that.
So
I kind of think this is all paper tiger,

(25:58):
you know, has a paper tiger feel to it. I I literally don't care. I don't even use tether. But a lot of people do, which is why tether is as big as it is.
And RGB, it's been around for a long time.
And and at this point, these these different rails, I just view them as rails at this point. Hell, even Strike uses

(26:20):
what? Is it it's either I think it uses Tron.
It's either that or Solana, but I don't think it's Solana. I think I think, Strike, a Jack Mallers, first company
uses Tron as rails for Bitcoin,
and we've essentially forgotten all about that. Nobody really bitches that much at at Jack Mallers anymore for using Tron.
So I I

(26:42):
I don't think this is anything to get all up in arms about. So, if it's something that's bugging you,
you're probably better off expending your energy taking a nice walk out in the woods. Let's run the numbers.

(27:04):
Futures and commodities. West Texas Intermediate getting a kick in the crotch.
Almost a full point to the downside, but still at $63.57
a barrel. Brenton RC is down two thirds of a point to $67.59.
Natural gas is up almost three points to
$2.13
per thousand cubic feet. And my favorite, Merban

(27:25):
crude, is up
two full points,
clocking in at $74.10
a barrel.
I've wondered what Merban crude was, and I finally figured out, oh, yeah. I can just search for it. So it turns out that Merban crude
is a extremely high quality,
light, sweet

(27:46):
crude oil
from Abu Dhabi's Merban field.
It has low sulfur, and it has an a high API gravity.
This this really makes this
this stuff really useful for things like,
gasoline,
jet fuel because it's lighter. It has lighter compounds.

(28:06):
Now if you were to go and drill for oil in Venezuela,
that's a different kind of crude oil. All crude oils are not the same.
This stuff out of Venezuela
is really heavy.
It's got really,
really heavy
hydrocarbon chains in it. And when I mean heavy, I mean actual,

(28:27):
like, weight.
And these are not so good to make gasoline and diesel fuel and and kerosene and and airline fuel, which is
essentially kerosene and
a little bit of motor oil to
keep this the the engines turning, but you you get my drift.

(28:47):
The light sweet crude is called light
because it has lighter
elements
of hydrocarbon chains. They're not as long. They're not as heavy. When you get the heavy crude, you can make a shitload of asphalt out of it.
You can make all kinds of heavy stuff,
but the volatiles
that that people, like, really like to use for gasoline that sell for a lot of money,

(29:10):
Not really there.
So that's why Mirbon crude is even more expensive than Texas light sweet crude or Texas intermediate crude because it has
just it's just better for gasoline refinement, and you get more money refining gas
than anything else.
Okay. So onto gold and
the metal brethren,

(29:32):
up a half percent. Wow. Gold. Yay. Peter Schiff. $3,466
and 2 dimes. Silver is up a point. Platinum is up point one six. Copper is up point 8%.
Platinum is up just over two points.
Most of ag is in the red today. The biggest winner looks to be cotton point 8% to the upside.
Biggest loser is coffee,

(29:54):
one and a half over one and a half percent to the downside. Meanwhile, live cattle
crawling in the green,
0.06%
to the upside. Lean hogs up a third as is feeder cattle.
The Dow is in the red, but only slightly. S and P is up point 03%.
Nasdaq is the only thing doing anything, really. It's up a full quarter of a point, and the S and P Mini is down point 14%.

(30:20):
And meanwhile, downward pressure on
Bitcoin as a well, since yesterday, we were a little bit above 13,000
yesterday. We're well, although we're back up to a $112,960,
we can get 33.2
ounces of shiny metal rocks with our one Bitcoin of which there are 19,912,623.06

(30:41):
of, and average fees per block are extremely low, 0.02
BTC taking in fees on a per block basis. And there's a decent amount of blocks in blockchains around the world. There seems to be about 28 blocks
carrying 71,600
unconfirmed transactions waiting to clear.
High priorities get you in at three sats per v byte. Low priorities get you in at one. And mining

(31:05):
is at 976
exahashes
per second, so we're still we're still in the climbing phase overall from, you know,
where we were back in November. Because back in November,
if if you didn't know, we were hanging around
738
x of hashes per second.
And now we're up to nine seventy six, and people like the last, hash rate dip that we have, some people started losing their minds. Oh, my God. Bitcoin mining spiral, oh my death mining death spiral, blah blah blah. Oh my god, it's just

(31:39):
ongoing bullshit. Please stop listening to it.
From several, or at least two or possibly three
of my last episodes,
I have wartime
with a 133
sat says cheers. Koala with a 108 says, walla o
s. Oh, no. Vola o s tagged you on Noster.

(32:00):
Koala, I saw that. Yes. I'm looking at that now. Psyduck with seven forty nine says
Psyduck getting pies with the one twenty one. Thank you, sir. No. Thank you.
What do we got here? Aaron Joel,
172
says boat definition.
A hole in the water into which you throw money. Seriously,

(32:21):
I grew up on the Gulf Coast and love boats. Kayaking, canoeing, and sailing especially, but also some shrimping
and water skiing. If you've never had a high maintenance relationship,
you've never really loved a boat. No shit, dude. That's what exactly what I'm saying. Rev Hoddle with one one two one says, thank you, sir. The South Bend Indiana Bitcoin Meetup

(32:44):
is celebrating
one year on Thursday,
September 4 at LangLab
six thirty.
Come celebrate with us. Again,
the South Bend
Indiana Bitcoin meetup is celebrating one year on Thursday,
September 4 at LangLab

(33:04):
six thirty. Come celebrate with us.
Regalecki with a thousand says
is that a sim?
It looks to me like he says, quote. No. Literally, it's like a single a double a single one single double quote. And then,
Kaz Pieland with a thousand sat says, boost. Y'all with five twelve says, still checking in with most casts during summer.

(33:29):
Appreciated.
And Chef Tommy with 800 says value for value, sir. We are sovereign individuals.
Yachts are not for me. I'll just take my generational wealth and boost you instead.
Thank you, Chef Tommy. Wee, Chef.
Jubjub with a thousand says, another great show.
Thank you.
Turkey with 500 says, check this out when you have some time. And he gives me a,

(33:53):
oh, I think he's oh, he's giving me a Purism link.
Yes. Purism. I forgot about those guys. And Pies with a 100 another 121
says, thank you, sir. No thank you. And that is the weather report.

(34:16):
Welcome to part two of the news that you can use French chip maker, and I did not know the French made computer chips.
Sequans
plans a 100,000
BTC treasury.
Oh, bullshit.
Yeah.
Before we even get into this,
has anybody noticed the amount of announcements of announcements

(34:37):
of buying Bitcoin
for treasury companies.
We plan to buy this many.
We're going to buy this many. We're we're going to do this.
You know, like, I I I also heard Mark Moss,
and I don't get me wrong. I I don't have a problem with Mark.

(34:58):
But
Bitcoin Hong Kong, the conference is going on right now.
I guess it's still it's still going on. It certainly wasn't full swing last night. That's for damn sure.
I we started getting, you know, like, little blurbs and stuff from the conference. Like, Domus announced that it was on now on Amethyst
or not Amethyst.
Fuck. On Android

(35:20):
and all kinds of other stuff. But one of the announcements that I saw yesterday just was just cringe
AF. So Mark Moss announced that
$300,000,000,000,000
is about to come into Bitcoin.
How many times have we heard this?
I I really don't like that.

(35:41):
Either either do the thing,
tell me who's gonna do it, prove to me that they told you that they're going to do it, and tell me
any more amount of information that you possibly can about why what you're saying is true or don't say anything at all.
It's just hype,
and

(36:01):
we don't need any more hype. We've been the hype cycle
causes people
a lot of pain.
And I'm I'm honestly surprised that Mark Moss said this, that 300,000,000,000,000,
not billion,
but 300,000,000,000,000
is about
just
about to enter the market.
Really? When?

(36:22):
I'm I'm I'm just sick of it.
I've been I've been here since 2015, and it's just the same shit over and over and over again.
You know, institutions are about to arrive. Well, in that case, they actually did.
But
now we're starting to talk about how much money is about to pour into Bitcoin,
how many how how these new

(36:44):
wannabe treasury companies are about to buy a bunch of Bitcoin
just like French chip chip maker sequence.
And and they're planning
about to buy a 100,000
Bitcoin for their treasury.
So let's find about out about how just much b s this could possibly be from Alex Larry in Bitcoin news.

(37:05):
Sequans Communications
is making headlines after announcing a plan to sell up to $200,000,000
of shares
through an at the market equity program with the proceeds to be used to buy Bitcoin.
Step one,
this is
pausing to say step one
of Michael Saylor's strategy

(37:27):
plan for Bitcoin. This just it's the playbook.
The Paris based chipmaker
has one of the boldest oh my god. It's bold. So therefore, we should believe it. Boldest treasury strategies in Europe.
A goal
to hold a 100,000 Bitcoin by 02/1930. And if achieved, that would be nearly half of 1% of all the Bitcoin that will ever exist.

(37:50):
Sequence does hold some Bitcoin,
about 3,171
BTC worth about 350,000,000,
making it the second largest corporate Bitcoin holder in Europe after Germany's Bitcoin group SE, which I've never heard of before, or at least I don't remember it. I may have even reported on it, and I don't remember it, which holds over 3,605

(38:11):
BTC.
With the new $200,000,000
equity
program,
the company could buy about
1,800 more BTC at current prices, bringing its holdings to around 5,000 BTC.
That's about on par with similar scientific.
CEO Georges
Karam
said it's part of building

(38:33):
a long term treasury foundation. Quote, we we intend
to use it judiciously
to optimize our treasury,
increase Bitcoin per share, and deliver long term value to shareholders,
he said in a recent company suit announcement,
pausing
to just walk all up and down this dude's ass.

(38:57):
Deliver long term value to your shareholders.
How about you make a better chip?
How about you sell more of those chips to more customers?
How about you
then use the revenue from an actual
God
dyed in the wool
revenue stream to buy Bitcoin.

(39:18):
How about you do that? How come you can't do that?
Is it because chips suck?
I you see what I'm saying here?
Long term value to shareholders. That's suit speak.
Judiciously
optimize our treasury.
Suit speak.
Increase Bitcoin per share.

(39:38):
It is suit speak, but at least it actually says something. That's something I can wrap my head around.
Increase Bitcoin per share.
Your your exposure as a shareholder,
you will get exposure to more Bitcoin
as time goes on. That's that's concrete. It's still suit speak, but it's at least it's concrete.
But this this law deliver long term value to shareholders and judiciously

(40:02):
optimizing your treasury
is BS.
And it is to be viewed immediately as suspect.
Moving on, the offering will allow sequence to issue American depository
shares or ADSs.
Sounds like a CDS. Was that a

(40:23):
collateral oh, a CDO, collateralized
debt obligation, maybe?
I'm thinking 02/2008.
Anyway,
it will allow Sequins to issue American depository shares at its discretion and subject to market conditions, and ADSs allow US investors
to trade shares
of foreign companies
on US exchanges. Oh, so it's a wrapper. Okay. It's like like wrapped ether or something like that. This isn't the first time Sequence has raised funds for Bitcoin. In July,

(40:53):
the company raised
189,000,000
through secured convertible
debentures
and warrants,
bringing its total recent fundraising to around
$376,000,000
with the new $200,000,000
plan. Sequins will have raised nearly 576,000,000
for its Bitcoin treasury strategy.

(41:14):
That's not gonna get you very close to a 100,000 Bitcoin. I'm just saying. Industry insiders say it's a big bet.
On the one hand, it puts Sequium at the forefront of corporate Bitcoin adoption, and on the other, it exposes the company and, of course, its shareholders
to the risks of Bitcoin's volatility.
Analysts are divided on this decision.
Oh, my god. They're divided. Raising equity to buy Bitcoin

(41:35):
dilutes existing shareholders
but also offers long term upside.
This way, shareholders accept dilution in hopes of long term profit from Bitcoin's growth.
Still, the strategy requires discipline.
Firms with lower treasuries can innovate
using structured financing,
options,
strategies,

(41:56):
or BTC backed deals to accumulate effectively. I don't know. Maybe just sell more chips. Who knows?
Critics argue that unlike strategy, The US company that pioneered the model, Sequins doesn't have
a billion dollar war chest
or enough margins to weather prolonged downturns.
If Bitcoin goes up, Sequins wins. If it goes down,

(42:18):
investors lose for effectively backing a Bitcoin proxy
instead of a semiconductor company.
That's what I'm saying.
Sequence wants to be not just a chipmaker, but a Bitcoin proxy stock. God. Jesus Christ.
You'd think these people would be smarter. They built a chip making business,

(42:40):
and you're still this dumb?
This is just this is
this is a fad. This is like bell bottoms in the seventies.
You know? It's like Man Chi Chi in the in the eighties. It's like like Guess jeans,
you know, post 1985.
It's just everybody jumping on board, man. It's

(43:04):
I don't know, man.
Some of these companies
I swear to god, 80%
of all of these treasury companies, these wannabes,
these are nothing but hail Marys.
Nothing
but hail Marys.
Ending with CEO
Georges Karam says it's a long term play.
He notes that their strategy allows strong conviction or shows strong conviction

(43:28):
to Bitcoin as an asset in a long term investment. Okay. So what fighting
shot here,
how are the shareholders gonna realize the gains of Bitcoin if Bitcoin goes up unless you sell the Bitcoin?
Unless you plan on borrowing against that Bitcoin to pay off the shareholders
the value that they think that they have.

(43:51):
Because unless you convert that into liquidity,
you the shareholders are never going to realize
anything other than their wealth has increased on paper.
Dare I say paper Bitcoin summer.
There. I I I said it. I've I've reinforced the meme.

(44:12):
There's gonna be four or five may
I'll give it I'll I'll I'll be
I'll be,
gracious.
There's gonna be 10 Bitcoin companies that make out like freaking bandits.
The top five of those
are going and you know their names, and I don't have to repeat them. They're going to

(44:33):
they're going to rule over all kinds of shit over the next hundred years.
Strategy clearly at at the forefront.
These other guys, sequins,
the sequins plays,
dude, that shit's going down. It's gonna burn.
Do not do not do not
get in

(44:53):
because here here's the here's the thing. Okay. I guess I'm I'm gonna go off a little bit longer on this.
Remember when all the alt coins came out, the shit coins and the ICOs, which are more shit coins and anything else, just anything other than Bitcoin.
The
we we need to go all the way back to the very first fork of Bitcoin, which was Litecoin.

(45:19):
And Litecoin was to be the silver to Bitcoin's gold
because, you know, Bitcoin is
talked about as digital gold.
Litecoin was almost immediately talked about as as digital silver.
And Litecoin was
four times faster. It had four times as more coins and blah blah blah. They but, essentially, it was the it's the Bitcoin blockchain. It was just had some some tweaks made on its consensus rules.

(45:43):
But here's the thing.
The people that have always invested in silver because they can't afford they want ounces. They want full ounces.
Right? They don't want they don't want grams of gold.
They want ounces of gold. They can't afford it. So what do they do? They buy silver,
which is been
told or been said or been talked about as a poor man's gold. Because you can get ounces of silver

(46:07):
for, like, $26.20
somewhere between 22 and $25.
Right? Ounce gold, that shit's gonna cost you $3,500.
So
you see where I'm getting at here. So we had all these alt coins.
Well,
and a lot of them would say that they were better than Bitcoin, but other people basically just said, hey, I can buy a whole bunch of ether

(46:30):
instead of and I can have a whole bunch of whole ethers instead of just fractions of a Bitcoin
because they got in late and they or they thought they got in late. It's never too late to get into Bitcoin. And then they hold the these this raft of shit coins that is essentially just doing nothing but sinking against the value of Bitcoin.
We are seeing the exact same thought process play out here.

(46:52):
Now in this case, this is what's funny.
You're not betting on you're not betting on Bitcoin or you're not rather you're not betting on an altcoin against Bitcoin
because all these companies
are having Bitcoin. Although that's changing, you're seeing Tom Lee do some weird stuff with with ether and and his company, Bitmind, but I don't wanna talk about that. Let's just talk about nothing but the Bitcoin treasury companies.

(47:18):
I can go buy strategy stock at whatever it's trading at right now, which is, I don't know, 3 let's say let's call it $350
a share.
Or I can go buy a cheaper
Bitcoin treasury company stock.
This is no different than buying Litecoin against Bitcoin.
Except in this case,

(47:38):
what you're betting on is the management
quality
of these companies.
The underlying
asset here
is at
is sort of held hostage
by just how dumb or just how smart,
just how effective,
or just how non efficient

(47:59):
one of these treasury companies management team is. It's not about the Bitcoin at this point.
Don't fall into the shit coin
Bitcoin treasury company trap.
We we
podcasters
when when I got into podcasting, it was 2018.

(48:19):
I had been
on a healthy diet, a Bitcoin podcast.
And all through it,
all through my pre podcasting time in Bitcoin, it was always the same thing from the people that that I trusted. They were always saying,
do not buy these shitcoins.
Just buy Bitcoin. You're not too late. And that was and that was honestly when you could pick up a coin for 3 k.

(48:43):
Even at like, especially after the the crash after 2017,
after that run up to almost was it 19,500?
After that crash, we went all the way down to, like, 3,500.
Took a took a year or two, but we got all the way down there.
And you could buy a whole Bitcoin for $3,500.

(49:04):
And then, of course, we are where we where we're at now.
This is the same thing only with Bitcoin treasury companies, except, remember, it's not about the asset now.
It's about the management team that makes the decisions
about that asset
on your behalf.
And just because you can get similar scientific stock for cheaper

(49:25):
than strategy stock,
that does not mean that you do not have a Bitcoin versus shitcoin mindset.
Do not fall into the trap.
In fact,
don't even buy treasury companies.
Unless you are unless you are legally bound to not buy Bitcoin,
just buy Bitcoin.
Let's move on to

(49:47):
more stupidity.
This time from Google who has outlined a plan for a, quote, universal ledger
amid race for institutional
blockchains
from Nate CoStar, Cointelegraph,
Google's cloud
Google Cloud's
head of web three strategy.
We're already in the middle of

(50:07):
web three terminology.
Used a LinkedIn post to share new details on the company's in development
layer one blockchain,
the Google Cloud Universal Ledger, also known as GCUL
or GCUL.
Gee, are you gonna be cold from the, stock market, Google? I don't whatever.

(50:29):
Rich Woodman
described
the blockchain
as the result of years of research at Google.
Oh,
wow. Designed to be incredibly neutral and compatible with Python based smart contracts.
According to Widman,
gCull
is meant to serve as an open infrastructure layer for financial

(50:50):
institutions, quote, Tether won't use Circle's blockchain,
and Aiden
probably won't use Stripe's blockchain, he said, suggesting that Google's network,
neutrality,
could help broaden adoption.
I don't think they need it. I don't think I don't think Tether needs
Google to help broaden their adoption.

(51:12):
But Stripe and Circle are also betting on layer one blockchains. Circle recently unveiled ARC, an open
network optimized for stablecoin finance, while Stripe is developing a stealth project code named Tempo in partnership with crypto venture firm Paradigm.
According to a chart shared by Widom or Widman,

(51:33):
while Stripe is leaning on its $1,400,000,000,000
payments network and Circle is
centering ARC on USDC,
Google Universal Ledger will be a planet scale blockchain with billions of users
and bank grade
functionality.

(51:57):
The hubris is fucking eye watering here.
Google Cloud expects to publish more technical details about the blockchain in the coming months, Wittenon said. Google Cloud has been expanding into blockchain technology since at least 2018
when it added Bitcoin data to its BigQuery warehouse and later extended support to Shitcoin number one and more than a d other dozen other Shitcoins.

(52:21):
The push accelerated in 2022 with the launch of a dedicated web three division,
which has since led the partnership with firms like Coinbase, Polygon, and Solana.
All the shitcoiners are grouped together here. The Chicago Mercantile Exchange Group is currently working with Google Cloud to test the universal ledger for tokenization

(52:42):
of payments.
The collaboration was disclosed in March
when the companies announced a pilot to test tokenized asset settlement and wholesale payment systems
through or though the specific assets were not revealed and full market participant trials are set to begin in 2026.
This sounds like a load of crap. At the time, CME chairman and CEO Terry Duffy

(53:06):
said the universal ledger could, quote, deliver significant efficiencies for collateral margin settlement and fee payments as the world moves towards twenty four seven trading.
End quote, by securing a pilot with CME, which posted record revenues
of $1,700,000,000
in the second quarter of this year on
average daily volumes of 30,200,000

(53:28):
contracts,
Google is targeting the core plumbing of global finance.
The latest update from Google
Google about its layer one comes amid a broader wave of tech and fintech firms developing their own blockchains,
and then they list a few, but they're all bullshit.
It's all bullshit.

(53:48):
Remember JPMorgan Coin?
Where is it?
Do you remember all these other banks that said, well, we're just gonna make our own blockchain.
Where are they?
Google,
in their own form of a Bitcoin treasury company hail Mary,
is is this isn't gonna
work. It's not they're they're too far downfield.

(54:11):
Everybody is basically blown past Google. They just they're dead. They just don't know it yet. And not only that, Google's dead.
We just don't know it yet.
That's how that's how I mean, we're we're talking
we're talking full blown life support for a guy that's in a coma
who's been hit by a truck, and and honestly, ladies and gentlemen, it does not look very good.

(54:35):
But just a a a further note here,
and this is from Flash over on, it's an Nostra note from Flash@primal.net.
US Department of Commerce says, quote, get ready for it y'all. We are cementing
our role
as the blockchain
capital of the world. It's blockchain,

(54:57):
quote.
And this is directly from this is a statement from directly from the Department of Commerce.
Flash has got a little,
screen grab here.
It's only fitting that the Commerce Department
and president Donald
Trump, the crypto president,
publicly released economic

(55:17):
blockchain, y'all.
We are making America's economic truth immutable
and globally accessible like never before,
cementing our role as the blockchain
capital of the world. And everybody has to admit that 3.3%
GDP growth is impressive,
end quote.
Commerce secretary Howard Lutnick.

(55:40):
So he goes from
calling Donald Trump the crypto president
to saying that they're going to put America's economic truth and make it immutable on a
blockchain
and become the blockchain capital of the world
and then slip in that we have a 3.3
gross domestic product growth.

(56:00):
That doesn't even make sense. The context is
I'm I'm lost.
I wow.
Wow. How Howard.
Good luck with all that. Let's move on.
I don't know what to say about this other than everybody's dumb but me apparently.
Criminals are vibe hacking with AI

(56:23):
at
unprecedented levels. So we're gonna move into a little bit of AI here, but I I don't know. I think it's important.
Braden Lindria from Cointelegraph.
Despite, quote, sophisticated
guardrails,
AI infrastructure company Anthropic and cyber criminals are still finding ways to misuse its AI chatbot, Claude, to carry out large scale cyberattacks.

(56:48):
Of course, that was going to happen.
Of course, it was.
In a threat intelligence report released on Wednesday, members of Anthropic's threat intelligence team, including Alex Mo,
I guess, Ken Lebedev, and Jacob Klein,
shared several cases in which criminals had misused
the clawed chatbot

(57:09):
with some attacks demanding more than $500,000
in ransom. And then and then they found that the chatbot had been used not only to provide technical advice to the criminals, oh oh my god, but also to directly execute hacks on their behalf
through what's known as vibe hacking,
allowing them to perform
attacks with only basic knowledge of coding and encryption.

(57:32):
Pausing.
It's a brave new world children.
Get ready for it.
Vibe hacking is social engineering
using artificial intelligence to manipulate
human emotion,
trust, and decision making.
In February, blockchain security firm Chainalysis forecast crypto scams may have their biggest year in 2025

(57:54):
as generative AI has made it more scalable and affordable for these attacks to occur.
Anthropic found one hacker who had been vibe hacking with Claude to steal sensitive data from at least 17 organizations,
including health care, emergency services, government, and religious institutions
with ransom demands ranging from 75,000

(58:16):
to $500,000
in Bitcoin.
The hacker trained Claude to assess stolen financial records, calculate appropriate ransom amounts, and write custom ransom notes to maximize psychological pressure.
Jesus
Christ. While Anthropic later banned the attacker, the incident reflects how AI is making it easier for even the most basic level coders to carry out cybercrimes to an unprecedented

(58:43):
degree.
Quote, actors who cannot independently implement basic encryption or understand
syscall mechanics are now successfully creating ransomware with evasion capabilities
and implementing
anti analysis techniques, end quote.
Anthropic also found that, of course, North Korean IT workers have been using Claude to forge convincing identities,

(59:04):
pass technical coding tests, and even secure remote roles at US Fortune 500 tech companies.
They also use Claude to prepare interviews
interview responses for those roles.
Well, everybody does that.
Claude was also used to conduct the technical work once hired, Anthropic said, noting that the employment schemes were designed to funnel profits to the North Korean

(59:27):
regime despite international sanctions.
Earlier this month, a North Korean IT worker was counter hacked, and it was found that a team of six shared at least 31 fake identities
obtained
obtaining
everything from government IDs and phone numbers to purchasing LinkedIn and Upwork accounts to master true identities
to land crypto jobs.

(59:50):
One of the workers supposedly interviewed for a full stack engineer position at Polygon Labs,
While other evidence showed scripted interview responses in which they claimed to have experience
in at NFT marketplace OpenSea and blockchain oracle provider Chainlink.
Anthropic said its new report is aimed at publicly discussing incidents of misuse

(01:00:13):
to assist the broader AI safety and security community and to strengthen
the wider industry defense against AI abusers.
It said that despite implementing
sophisticated
safety and security measures to prevent the misuse of Claude,
malicious actors have continued to find ways around them. Yeah. Well, you know, and then

(01:00:33):
that's the end of the article, but then we gotta find out you can ban all these people all you want.
Some of them have made enough money at this point that they're gonna buy themselves a nice big ass computer,
maybe four or five of them, build a cluster
with a lot of GPU,
and they're going to go over to Hugging Face and they're gonna download,

(01:00:54):
like, some models.
And there's a lot of models that that are still, like, open training models where their weights haven't been sealed up. And if I I don't wanna get too far into it, but the way these models are trained,
if you go to hug hugging face and pull down like, I don't know, deep seek or something like that,
that model is closed

(01:01:14):
in training. It means it's it's the weighting of all of its parameters that make l l m's what l l m's are. You can't adjust those.
But there are open versions
that can be downloaded,
and they their parameters
are open to be trained.
This will not stop.

(01:01:35):
This will get worse.
Institutions
will be the best guarded against it because they have a lot of money. And if their management is not stupid,
like a lot of the Bitcoin treasury companies that we see that we just talked about, then they'll be able to deploy enough capital and enough resources
to

(01:01:55):
to stage an effective
shielding.
All of them won't.
There's gonna be a lot of companies have a shit ton of money that that misallocate that and miss the mark and get hosed
AF, but it's really gonna be down at the retail level. Grandma,
grandpa,
your sister, your brother, your mom, your dad, your children.

(01:02:16):
That's the target. That's the target you need to care about. You don't need to care about your data being stolen from Google. Honey, your data's already been stolen.
Maybe not from Google, but from enough
people that they might as well have all the information that you've got stored in Google. I'm just saying,
that's not your focus.

(01:02:38):
If you want to to have the most effect
on being able to protect yourself and the people that you love and you need to protect them. Because if you allow somebody that you love to get hosed by this,
you could get hosed in the process without even knowing it. Just like when one of my cousins
decided it was a great idea

(01:02:58):
to go over to, what was it,
twenty one and me
and get their their entire genome sequenced.
I'm related to her.
I'm
hosed even if she is just my cousin.
See how that works? Don't think it won't work the same way. You gotta protect your loved ones. Don't worry about Apple. Don't I mean, if you if you're really that worried about it, then scrub all your data.

(01:03:24):
Not gonna matter anyway. It's already backed up. It's gonna be stolen. We're all hosed.
We've gotta make sure that we can actually defend ourselves against the simple email
because that shit's coming.
That's why I read you this story today. Be aware.
It was always going to happen,
but it is now ramping up to the point that once it hits mainstream media,

(01:03:49):
you it's ramped up.
Let's end it off with another cautionary tale.
Paris police probe alleged kidnappings,
and wrench attacks
of ex crypto trader. He's an ex crypto trader. He doesn't trade anymore. He's out of the game, apparently, but Vismayevi will tell us more about the game from Decrypt.

(01:04:09):
A former crypto trader was allegedly kidnapped
and held for ransom between Paris and Saint Germain in Laye in another wrench attack.
It's become a worryingly
common incident
in France's rising crisis of crypto related abductions
that security experts warn represents
the tip of the iceberg.

(01:04:30):
The victim,
identified only as Alexandria,
was freed around 4AM Wednesday morning with a swollen face after being strangled
unconscious
by his captors
who demanded approximately
€10,000
from an acquaintance in Algeria through a disturbing photo showing him bound and kneeling

(01:04:51):
according to La Perizon
or Parisian, I guess.
Police
recognized the injured man walking home and immediately took him into custody for medical examination
and questioning.
The wrench attack adds to a disturbing trend
trend
of crypto related kidnappings.

(01:05:11):
Good lord, Dave. That cybercrime
consultant David Sehune
Back told
Decrypt
is far more widespread than publicly reported. Quote, many cases never even reached the public eye because victims
choose silence
to protect their reputation
or avoid becoming repeat targets.

(01:05:32):
France
has recorded the highest number of crypto related wrench attacks in Europe with security expert, Jameson Lopes database, tracking around 10 incidents
in 2025
alone, accounting accounting for one third of the 29 cases
reported across all of Europe. Quote, due to the cross border nature of crypto,
in many cases, ransom is demanded in crypto to move funds and cash out.

(01:05:57):
Karan Perjajra,
founder of scam defense platform Scambuzzer told Decrypt referring to Alexander's,
attackers demanding euros rather than crypto.
Quote, such attacks
prove that traders and investors should not reveal or flaunt their gains.
Pausing,
stop wearing swag,
especially if you go to a Bitcoin conference. Stop it. Just

(01:06:20):
fucking stop.
Beck warns
that Alexandre's
alleged kidnapping points to a global phenomenon where organized crime groups and even traditional offline gangs
are now jumping into the bandwagon,
seeing crypto figures as easy high value targets.
This follows the abduction and wrench attack of Ledger cofounder David Baland,

(01:06:40):
who himself was tortured. And then in June, French police arrested
alleged mastermind
Badis Mohammed Ahmed Bajou in Morocco
and charged 25 suspects,
many among them very young
in schemes that included the brutal attack on pay
wait a minute. Paymium
CEO
Peri Nozat's pregnant daughter.

(01:07:02):
The pseudonymous
nature of crypto
doesn't help. He's got a whole paragraph there, but it essentially says it doesn't help.
Without significant changes to personal security practices
and international law enforcement cooperation, Beck predicted that the wrench attacks
will,
continue to escalate,
and investigators

(01:07:23):
are still examining
Alexander's closing and skin for forensic
evidence while verifying his account of the ordeal.
Who knows?
Stop wearing swag.
And honestly,
look, I I get it. There's a lot of people out there that
they love making t shirts with Bitcoin stuff on it, but you guys stop.

(01:07:44):
You need to stop.
You're gonna get somebody in trouble because they're gonna wanna wear that shirt. And I know, I know, it's like a
I'm pissing into the wind on this.
But just at least consider it.
Okay? At least at least consider
not making the Bitcoin t shirt that somebody buys and then wears to a Bitcoin conference and then is looked at as an attack.

(01:08:11):
Somebody I can attack. Somebody I can I can harm? Somebody I can get value from through no real work of my own other than
beating them over the head with a wrench.
At least consider it. And for those of you who wear swag,
I really want you to not only consider, but stop wearing swag. Stop wearing orange shoes with Bitcoin symbols on it. Stop wearing shirts with a giant Bitcoin symbol on it. Don't wear Solana shit. If you if for whatever reason you're a Solana head out there and you're listening to the Bitcoin and podcast, don't wear Solana shit. Don't wear Ethereum shit. Don't wear any of this crap.

(01:08:47):
All it does
is broadcast
and telegraph
to the world.
You've got money.
And unless you are six five,
weigh three hundred pounds,
and are cut AF,
then don't
wear the shirt
or the pants or the jacket or the hat or the glasses or the socks or the shoes.

(01:09:12):
Just buy normal clothes.
Just buy normal clothes, man. I'll 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.
Have a great day.

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.css-r6mb8g{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:1;overflow:hidden;}24/7 News: The Latest

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Wrenched

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