Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Thank you.
(00:30):
All right, good morning, everybody.
How's it going today?
I'm getting a little bit of an echo as usual, and I was playing around with some equipment
this morning and nothing was going the right way.
(00:51):
So hopefully you guys can hear me loud and clear.
Give me a thumbs up or thumbs down and I will know that you can hear me.
We have some people looking to come up on stage.
Happy to have you.
Happy to have you.
If you're just listening this morning, thank you.
Appreciate it.
But yeah, I want to be one of the first to wish you a good morning.
(01:16):
And I'm rearranging the stage a little bit.
But I wanted to welcome you to Bitcoin Veterans Spaces, number 246, where we talk about Bitcoin.
My name is Bob Van Kirk. I will be your host this morning.
And hopefully we can get Texas Toast up here.
Having a little bit of trouble getting him up here, but we will do it.
(01:41):
And I'm also joined, it looks like, by BFP, Neil and AC.
If you're in the audience and would like to come up, love to have you.
Looks like we have Bitcoin Jesus and Coleman, who are frequent contributors to the space.
We'll try to get them up there.
But yeah, if it's your first time, welcome.
Welcome in.
Happy to have you.
And let's look at the stats for today.
(02:05):
It is Tuesday, August 19th, 2025.
And we are sitting at Bitcoin block height number 910,753 with the Bitcoin price right around $115,300, which means you can still pick up 867 sats for each U.S. dollar.
Wanted to make a couple of announcements this morning.
(02:27):
As I've been mentioning, Bitcoin Veterans wants you to mark your calendar for November 10th and 11th in Nashville.
Second annual summit.
Please consider joining us.
Going to have a great time.
First day is going to be the conference day.
Lots of good speakers, panel topics, all kinds of stuff going on.
(02:49):
You'll get your learning on.
And also, the second day is going to be range day.
So if you'd like to learn how to shoot a firearm safely, or if you're a seasoned veteran and want to have some competition with some other people who know how to shoot a firearm, please join us.
(03:13):
Bitcoinveterans.org forward slash summit 2025.
If you guys, any of you guys want to apply to be a speaker, you can do that at that website as well.
But would love to have you in attendance in Nashville in November, right around Veterans Day there.
So let's see.
Tomorrow, we do have Rod Rowdy from Bitcoin Park.
(03:35):
So you won't want to miss him as our guest.
Should be a great discussion.
Excited to have him on the show and hear all about Bitcoin Park, their Imagine If Summit that's coming up,
and all the other stuff, all the other wisdom from Rod.
So please do join us tomorrow, 10 a.m.
We'll be doing this again.
Let's see.
(03:55):
Last announcement for today.
We'll be looking for a producer for the show.
So if you're interested, if you want to come up with better names for each morning's show, please do DM me.
We can get you plugged in to the Signal Back Chat.
(04:16):
and would love to have anybody who is interested in helping grow the show,
the content, and the audience.
It would be awesome to have your help.
Wanted to give a shout-out to Coleman, who's in the audience.
Thanks for uploading all of the recordings of this to Fountain
(04:37):
and maybe some other platforms.
But, yeah, guys, we could use some help and love doing this every morning,
love hanging out with you guys,
come up with a variety of topics. And if you'd like to see one, always love hearing what people
are thinking about. So with that, I wanted to go around the horn and stay good morning. Texas Toast,
(04:59):
how are you this morning, sir? Good morning. Another wonderful day. Ready to get after it.
That's great.
Neil, how are you, sir?
I couldn't be better.
I don't know.
It's starting to get on a swing.
(05:19):
And I don't know.
It's great when the momentum you have built in one day carries over to the next and the next and the next.
It's addicting.
Yeah, good stuff.
BFP, good morning.
Good morning.
No birds, but a little matrix.
(05:41):
We'll let you get that sorted out.
Pubby, thanks for joining us.
How was your teeth cleaning yesterday?
Hey, not bad at all, man.
You've got to stay on top of that dental health.
Yeah, Taco Tuesday, a good lead in there.
Producers, I don't know if producer Jacob's still around.
I know he was doing stuff for Swan, but he's a good guy.
(06:02):
And yeah if not
Tomorrow you can do Wing Wednesday
As your show title
Ooh I like that
Do you prefer plain
Or some sauce or what's your thing
Some people like the buffalo style
What do you like
Yeah so yep pro tip
Okay I like the
You get the rubs
(06:23):
You find a nice rub in there
But then you get a side order of whatever sauce you like
So you get the rub and dip
As much as you want on there
and and it's ranch not blue cheese that you get with it so that's that's my go-to
hubby this is a family friendly show um i think you should tone it down with your uh rub and dip
(06:45):
but thank you for that that's beautiful ac how are you this morning
good morning guys great to be here thanks
all right guys well i think we've gone around the horn we'd love to have other people
come up. Sorry, guys. Try to keep it light, make fun of myself and others. It's all in good fun.
We should be having a good time as Bitcoiners, whether you like tacos or not. I tend to enjoy
(07:13):
them on Tuesday if I can for lunch. And I think I'm going to actually have some beef tacos this
afternoon. My wife informed me, so I'm excited about that. And I hope you are too.
So, let's see. Topics for the day. I think there's a lot of different things going on.
(07:35):
But, you know, one thing that I've been looking at, and I actually wrote an article about Signal, private messenger.
A lot of people in this space have used it for a variety of reasons.
Good place to be on groups and, you know, individual communications.
but one other tool that has kind of come up in the last couple of weeks,
(07:59):
maybe three weeks now, is this BitChat.
This is Vibe Coded by Jack Dorsey a few weeks ago,
and I did download it over the weekend.
And, yeah, I was thinking of different use cases,
and maybe I can share a little of those.
But interesting thing.
(08:21):
What it does is it connects, for those that don't know, it connects via peer-to-peer over Bluetooth.
And so no other network connection available or needed.
And what this could allow you to do is in case, excuse me, in case of an outage, an internet outage,
(08:44):
you may be able to have a mesh network and communicate still.
So lots of interesting use cases, I think, but just curious.
Anybody on the stage played around with it, used it, thought about it?
It is available now for Android and iPhone.
(09:05):
And so just curious if anybody has taken the steps to download and install it on their device.
I have not.
I just wonder about the range.
Like that's kind of the whole thing is what is the range that you can push out on a Bluetooth?
Yeah, certainly limited.
But because it's a mesh network, conceivably, if I could have, you know, my neighbors download it or, you know, you think of being in a I actually was talking to my wife about this.
(09:38):
It's like, hey, if we were ever on a plane and we don't have messaging because we don't have connection to the Internet or the Internet's down, might be helpful to have this communication between us in a close proximity like that.
Go ahead, Texas.
Yeah, yeah. And if you're, you know, the only other applicable or one other applicable thing I could see it being used for, it's like an apartment complex or a giant building.
(10:04):
They could use that to communicate to their residents and like an emergency and all kinds of stuff.
It makes sense on a, if you're going vertical, but if you're going horizontal across big distances, it doesn't make a lot of sense.
Just my thoughts.
Yeah, I think these things, you know, as we've seen with Bitcoin, these things all come down to network effect, right?
(10:32):
So if you could get enough people using it, conceivably, even though you and I are, say, 50 miles away from each other,
I could send a message and it would hop through all the peers and eventually get to you.
And we're all connected just over Bluetooth.
So if there's nobody downloading it and using it, you're not going to be able to get that message all the way across a mesh network that doesn't exist.
(10:59):
Right. So one of the things I think is interesting is it does keep you anonymous, but you can favorite people and identify them or mark them in the app.
You can do a group by default. You can do like a group chat for any of the peers that your phone sees.
but then it also will allow you to obviously private message people.
(11:23):
So I'd encourage you if you can try it out.
It's an interesting technology.
I find it interesting.
Like I was at church over the weekend and I was like, huh,
I wonder if anybody has this running on their phone.
Sure enough, they did not.
But one day I'm just dreaming one day,
like when I was sitting in a boardroom in the maybe mid teens.
(11:46):
and talking to the bank that I worked for about Bitcoin.
And they all just looked at me with a blank stare,
kept their eyes on their paper
and did not want to hear anything about it.
And now here we are with all of you fine folks
enjoying this Taco Tuesday.
(12:08):
And so, yeah, I don't know.
I just, I think this is going to be one of my things.
I think I'm going to encourage people
to download this app.
It's not that hard.
And it's a pretty simple, low-level app.
And who knows?
Maybe it's something that could be useful.
Too bad, you know, we, I don't know.
(12:31):
I think people are, you know, trying to push out Noster and other networks.
And those have had limited success as well.
And so maybe we'll see it like that.
But surely, slowly but surely.
And I think people will adopt these technologies.
So, yeah, I see your hands there.
Go ahead.
(12:52):
Do they have it on Google or just Apple?
Because I looked for it in the Google Play Store.
Couldn't find it.
Yeah.
And that could be a barrier for sure.
So right now, because it is open source, it is.
And I'm trying to get a couple people up here.
Sorry for the delay there.
But, yeah, you can sideload it on Android.
(13:17):
So, essentially, there's a GitHub out there for it because it's open source.
And so, you can very easily go to the GitHub, download the APK, and then you do have to change this default settings on your phone so that you can load an APK that has not been published in the App Store.
(13:38):
So, hopefully, that helps.
I'm not sure if you've ever done that before, but I think it's, they give you instructions in there.
Neil, good morning, sir.
What's up?
Yeah, I mean, I don't really know too much about the app, but the thing that jumps out to me is just like, you know, again, this principle of decentralization.
(13:59):
And when you push on that lever, like things that you can't imagine, like just like you're saying, no one's at your church, whatever is this stupid thing that doesn't have any function.
But like you keep increasing decentralization, decentralization.
And then like at some tipping point, you know, just like something unlocks, you know, where the thing that you thought was completely impossible is now just normal, regular and assumed.
(14:30):
You know like that that an amazing thing to like to be reaching for this idea that our comms and the way we connect like we can just completely circumvent the traditional centralized you know lanes of your provide like your you know your wireless carrier or your internet service provider or all these things Like I I very happy that
(14:57):
people are at least thinking in that way. You know, it's like, it works for money. Why would
it not work for other domains? And it's like, I don't know, it's a great time to be alive.
yeah and it's like anything you know people don't use this stuff until they really need it and it's
like man that would have been nice to have and so the more we can get information out there
(15:19):
um i do think people hopefully adopt these things uh but unfortunately
no pain no gain right and i i think that that's the same like we look at and talk about people
who are no-coiners or who just refuse to pay any attention or do any study.
(15:39):
And a lot of times the main reason is because the fiat system has served them extremely well
and they just don't feel like they have this need.
And so I'm going to put a couple of things up in the nest this morning.
One is the BitChat thing.
(16:01):
It should be loading here in a second.
And then also I do see some hands. So let's go to those.
And then we can talk about my other topic here in a little bit once we exhaust this one.
So I think I saw, well, maybe Manimal, maybe AC, you guys sorted out.
(16:24):
Hey, morning, Bitcoin Warriors.
I'm just curious if people have been or what everybody's opinion is on the Bitcoin core versus not kind of debate going on right now when it comes to spam filtering.
It seems like there's a philosophical debate side to it and a technological debate side to it.
(16:47):
So I'm just curious what the OGs on this podcast or this channel have to say about it.
And then also curious what people think about BlackRock owning over 11 million shares of MicroStrategy
and maybe dumping those shares one day to scoop up some cheap corn maybe during the next bear market.
(17:11):
So those are my two thoughts for the day.
I'm just curious what everybody has to say about that or anybody has to say
about it.
Yeah. Thanks for coming up and contributing.
Always love to have people bring up some of these topics.
We did cover a little bit yesterday,
but if someone wants to jump in and kind of sum things up,
(17:32):
I think AC had some good comments on it yesterday.
And I think he has maybe something else to contribute this morning.
So AC, can you check your mic here, sir?
Yeah, how's it going, guys?
So before we pivot the conversation, and to be honest, I'm exhausted with that one, and I'm not going to touch it because I'm tired of, you know, this ongoing no one comes to an agreement, Bitcoin Core versus not.
(18:00):
So somebody else can talk about that.
Really kind of reverting back to BitChat.
I did put an image in the comments, so you guys can check that out. There was actually a product that launched in the 20 teens, so to speak, and it was FireChat. Very similar technology, did not include the encryption or the other group chat functionality, but it did create a mesh network over Bluetooth, and really it was not used predominantly until times of crisis or need.
(18:35):
And really, that's where I see this product fit that particular niche. It's one of those things from a military background that would be in your pace plan and typically in the emergency section of that pace plan.
The challenge that I think BitChat is going to have, and it's similar to a lot of these other products that Bitcoiners have talked about or looked at in the past, whether that's SimpleX, White Noise, or Keat, and that's adoption.
(19:02):
And Bob, you kind of alluded to that is if your network of people or the people that you communicate with the most do not adopt the product, then you're not going to be able to communicate with them.
We see that, especially in Bitcoin, trying to get those people closest to us involved, interested, curious in Bitcoin.
(19:22):
But we also see it in, you know, secure messaging apps.
Like, I don't know how many times you guys receive messages from people over clear text SMS and you talk to them about end to end encryption with Signal or with other products.
Maybe it's something more centralized like Facebook Messenger or WhatsApp or something like that, maybe Telegram.
(19:44):
And so I think adoption is going to be the biggest challenge.
But I encourage people to think about things in, you know, what's your primary alternate contingency and emergency means of communication.
And, you know, I was at another conference just a couple of weeks ago, and they set up an extremely large Mesh-tastic network.
(20:04):
And it was kind of the same thing.
There were a lot of people walking around with devices, but very few people actually transacting messages over the Mesh network.
So I think that we are at a similar time to the early dot-com era where there's a lot of experimentation taking place in the space.
(20:25):
And really, it's going to boil down to adoption.
And people are going to centralize to the best product with the best UI and the best functionality and the most users.
Thanks.
Yeah, thanks, AC.
And I do think you're right.
it's hard, especially when you're at conferences.
(20:45):
You're like, hey, wouldn't it be cool if we really set this thing up and everybody adopted it?
But usually people are at conferences trying to make in-person connections,
and so they tend to ignore their phones a little bit.
And while the experiment would be cool, it is difficult to get people
who are there to make, like I said, in-person connections
to be looking at their phones. Texas Toast, go ahead, sir.
(21:09):
Yeah, it seems like with any of these technologies, it's kind of a catch 22 where, you know, it's decentralizing in nature, but it also requires nodes and it requires you to be a node in a lot of these systems.
So, you know, I kind of envision a bunch of different technologies, ways to do things going forward, and kind of each community is going to attach or kind of going to build out what they think is best, whether it's MeshTastic or this Bluetooth.
(21:46):
It kind of all depends on the size, the place.
It's like each one of these technologies has its benefits and weaknesses.
And I just see a world where a lot of these, a lot of different things get stood up for each size community.
But it takes some sort of leadership or centralized position to really enact them.
(22:10):
So it's a weird kind of double-edged thing.
But, yeah, it's better than like your state government mandating it for everybody.
But maybe, who knows, what would be better?
All these different things or one specific network that's mandated from the top down?
(22:33):
Yeah, it's interesting.
Bobby, you go ahead.
Yeah, just real quick to answer NAS versus Core.
the solution is to buy Bitcoin in self-custody.
That's as far as I've gone down that rabbit hole.
Two, when it comes to comms,
the last thing I need is another fucking form of communication, man.
(22:56):
And, you know, like I say,
I like to pull out the Pace communication plan
because I got to put one out whenever I travel.
But dear God, man, we have, like you say,
even with Twitter, you get your Twitter DMs,
regular text messages. I got WhatsApp. I got Signal. There's Telegram. You're getting hit by
five different places in the same stuff. So, yeah, if something comes out like that where it runs off
(23:21):
a mesh network, you see it in an emergency. But like everything else, it's like, who's using this
stuff? That's one of the hangups right now with Nostros who's over there, okay, who's going to use
it because there's like three people that are talking to each other, and that's about it.
So I've always been there
If you can share that up in the nest
(23:41):
I'll take a look at it
I'm interested to see
But the real emergency is going to be
When internet, wifi, all that
If it drops
Do I now go get a ham radio
And learn that? I don't know
And what are we going to say to each other
Hey, do you got anything to eat
Because all the supply chains are down
And I don't have a garden
(24:02):
It's all land and plain air
Yeah, I mean to me it's going to be embedded
in whatever, you know, community emergency app, they're going to, they're going to kind
of have the community download, whether that's an HOA, like creating their own app and you
can pay dues and stuff through it.
And then you have this bit chat embedded into it, um, so that you can all communicate like
(24:23):
stuff like that, especially as it becomes easier to build these apps, um, and five code
them, you know, in a weekend, um, stuff like that becomes really accessible and easy to
create.
So we'll see.
Are you old enough to remember CB radios?
(24:43):
For those of the younger.
Yeah, I used to have a handle.
Yeah, man.
Yeah, that's how you got across the country.
You had your Rambic Nally map
and a CB radio.
Ask truckers where to go.
Yeah, and then to get back
to Manimal,
yeah,
(25:05):
For me, it's just having Bitcoin, the knots versus core.
It's like beating a dead horse.
Pick your own adventure.
It's the same thing with this comm stuff.
It's like you do whatever you want to do.
It's not once you get to that level and you run whatever node fits your preferences, move on.
(25:33):
because otherwise it's just going to, it can eat you up and make you, you know, question.
To me, it's one of these FUD points that we'll look back on in five years.
And, you know, to me, it's just good that the operating, not operating systems, but the,
you know, Knott's first core, there'll probably be another one coming up soon.
(25:57):
You got ocean decentralizing mining and the pools in that way.
the more of these things get out there, I think the better.
So that's where I stand on it. And then with micro strategy, it's like, dude,
just buy Bitcoin. It's always been that way. It's like, if you're trying to chase these
(26:18):
ridiculous gains, if you have like 50% of your portfolio and micro strategy, I'm sorry, you're
dumb. That's way too much risk. You're at the end of the day, you're trusting a third party
intermediary between you and your Bitcoin. So, you know, maybe it's good for a couple percent,
but anything outside of that, and I think you're taking on way too much risk.
(26:41):
Coleman is cheering there in the audience. Go ahead, man.
No, for sure. I mean, look, if BlackRock dumps MicroStrategy and forces MicroStrategy to somehow
sell their Bitcoin portion of the Bitcoin position, I'll be cheering because I'll get
a lot more Bitcoin at a cheaper price.
I mean, I'm totally fine with it.
(27:03):
I'm just curious.
I'm just curious what people think about
Larry Fink and BlackRock.
I don't know if you dropped for everybody else,
but you dropped for me.
The, you know, BlackRock, Larry Fink's going,
(27:26):
Now he's the interim head of the World Economic Forum.
Yeah, it's it's it's can be scary to me.
I just look at it as the world is trying to get their hands on Bitcoin.
All right. Sorry, I had to mute you. I don't know what happened.
(27:49):
But the world's trying to get their hands on Bitcoin.
and, you know, they think they're going to attempt to try to control it.
We'll see.
We'll have to just kind of keep an eye on it and see what their angle of attack is
and talk about it.
And then we can all kind of move the other direction if it becomes a danger to the network.
(28:14):
But for now, I don't think that's the case.
until it proves to be a legitimate threat.
I just see it as Bitcoin embedding itself into everything.
And this is just sort of what we talk about.
The nice thing about just having your Bitcoin,
your regular stack and self-custody
is I don't have to worry about what Larry Fink does.
(28:37):
I don't have to worry if Michael Saylor is diluting shares
and MSCR people are sort of pissed off.
You don't have to worry about that stuff
Because guess what? You've got the original. You've got the Bitcoin and you self-custody.
Now, other people get to argue about this stuff, core versus nots, people going back.
Guess what? When everyone was talking about ordinals that whole time, ordinals and inscriptions, dear God, for six months, it didn't change anything about the way I would stack Bitcoin.
(29:07):
And look now, and you think about all the time and energy wasted on that for some people.
you know look back just stick to the original plan that's what that's always been my sort of
thought on this and like i say you can you've got the luxury then to come in from the outside and you
can you can play this as a just a like a thought game all right so yeah what if uh we do get this
(29:29):
etf you know what is this well that that that for other people to worry about other people that are now concerned with something that is centralized and chasing yield which wasn what brought me and many others to Bitcoin
But now they've got something else to worry about in their life.
Yeah, and if you run Bitcoin, you know, one of the great things about Bitcoin is it's backwards compatible.
(29:55):
So it's like if you run an older version, you never have to upgrade, you know, theoretically.
Like maybe some of the more technical guys would say you do eventually, probably.
But for a long time, you can really wait out all the noise and all the arguments and kind of see what happens.
And then, you know, if something makes sense, you go that direction.
(30:16):
Yeah, good stuff.
Did want to say good morning to Tao and B Solo.
Feel free, guys, to jump in anytime.
Love to have new voices.
Tao's up here quite a bit.
But Vsolo, good to see you and good morning.
We can continue on on this topic.
Otherwise, another news that I wanted to get to this morning is Ronin Dojo, who is, if you guys aren't familiar,
(30:46):
is one of the more popular node softwares that is focused on privacy, announced that they have
released an update to their software. And it allows for some interesting, interesting things.
And I think, I don't know, I was just kind of pouring through it late yesterday. And one of
(31:10):
the things that it offers is something where when you send a transaction through your node,
it won't be immediately pushed to the Bitcoin network, but instead sent to a random node
on the network, which will push it to the Bitcoin network. So what this means is that
(31:30):
your node will receive other people's transactions and will also push these transactions to the
Bitcoin network, which further obfuscates the origin of the transaction because the maker
or a transaction does not have to be connected with a Bitcoin node that relays the transaction
to a network. So I know I said node, network, maybe Pubby's having a little sip of coffee for
(31:53):
every time I said node and network in that little blurb. But yeah, I don't know. I think this is
interesting. What are you guys' thoughts on this? I mean, maybe it's not such a big deal for a lot
of people, but I do think that this is an interesting development, that they're building
(32:15):
almost a sub-network of nodes that will allow for further obfuscation of transaction broadcasting
across anyone running their node software.
Have you guys ever had cricket on your top?
(32:38):
Okay, go ahead.
I was going to say it's par for the course.
The privacy war is in full swing now, and that's where they're going after Bitcoiners.
So I think more privacy technology needs to come out,
and people need to hide their identities who are making it,
(32:59):
because it's going to get ugly.
especially with Black Rock's Larry Fink,
who I knew couldn't have been a good actor,
and now he's working for the World Economic Forum and Black Rock.
I mean, the writing's on the wall.
(33:21):
AC, go ahead.
Yeah, so this update to Ronan Dojo, I think it's pretty awesome.
I shared a previous post that I'd made a while back, both in the comments and in the Nest.
And it was just a conversation of how somebody might think about using their node.
(33:45):
And so back to Manuel's comment, I think the most important piece isn't if you decide to run core or not.
Really, it's are you running a node?
And Tao did a great space last night talking about nodes and kind of walking through with somebody on how the thought process and decisions that you would make in running a node.
(34:08):
But the bottom line is you use your node to verify, don't trust, verify your transactions and your addresses and validate that, you know, what you see is actually true.
But really, the other piece of that that I like to think about is what Ronin Dojo did is what a lot of people, myself included, have been doing manually.
(34:32):
And that is, you know, you use your node to validate your addresses and your transactions, but broadcast using someone else's node.
And there's a really technical reason behind doing that.
And what Ronin Dojo is doing is they're kind of automating that process a little bit.
And so when that transaction is broadcast, it's not coming from a particular node and then spreading from its nearest peers, which you can see on your node if you're running one, and then propagating throughout the gossip network.
(35:04):
And so what they're doing, I think, is increasing privacy for Bitcoiners who choose to run that particular node.
And I'll land it there, but I think it's a good thing for the community and for the network overall.
Yeah.
Yeah, good stuff. Who else? Go ahead.
Hey, Bob, I just want to jump in here with the whole not and core thing.
(35:30):
Just really quickly, I think a lot of people are still misinformed about how it actually works.
I don't think people have enough information to properly make a decision that they want to make a decision on.
Because some aspects are very, very deep, very technical that may not necessarily affect the thinking.
(35:58):
But then some things are just so ideological that people use that to influence what they believe in.
And so, you know, I've been on actually both sides from day one as I was like getting more information.
But as I was getting more and more information, I realized, I'm like, hey, you know, I'm fairly well technically fluent and know tech fairly well.
(36:26):
But yet, I was still missing a lot of pieces into this whole sort of like contention.
I didn't understand that, oh, this offer this and this offer that, et cetera.
Or this is the belief that was on a certain side, et cetera.
And so I just think a lot of people are still missing that information.
And it's a lot of things out there because when I hear people kind of talk about it or discuss it, you can see it.
(36:53):
You can see that, hey, they're just not bringing things up that didn't make sense or just false entirely.
and I hold several spaces just for the topic itself,
not a way not to debate or anything,
but for myself to learn and for others to learn as well.
(37:15):
And you realize, wow, there were so many things,
so many layers to the conversation that a lot of people missed out.
So I'll just recommend people who are really passionate about this sort of thing,
learn as much as you can and form whatever decision you want to form.
And then quickly on the MSTR thing that you guys mentioned earlier,
(37:40):
I think last month or something, I got some MSTR shares
because I was thinking, you know, this is a new thing.
It seems promising.
And also, who is kind of sort of leading the effort?
and I was like, MSDR seems like someone I should buy.
So I bought some, but during that time actually,
(38:04):
during that whole week, a period,
I've been contemplating quite a bit, like should I get it?
And not like, it wasn't even long,
but just three days later after I bought it, I sold it.
Because I realized that why am I putting my money
to let somebody hold my Bitcoin?
(38:25):
when I can hold my Bitcoin myself, right?
The way I see it is that the only way that micro strategy can go up
is if Bitcoin went up.
And if Bitcoin goes up, then that means I already have the asset.
So to me, I just felt this third party risk
(38:47):
was just something you can't control,
like you guys mentioned many, many times before.
It's not necessary.
You have operational risks.
You have potential accounting risks.
You don't know what anybody's doing.
So why just have all that noise?
And why not just buy your Bitcoin and just co-storage it?
(39:10):
And so, yeah, I sold it literally three days after I bought it.
And I'm so grateful for that.
I mean, I'm still bullish on what they're doing potentially in the future.
But, you know, I just rather hold my Bitcoin and I recommend a lot of people do the same.
That's it. Thanks.
Not financial advice.
(39:34):
No, but I appreciate you sharing that.
And I think we lost our one of our newly news participants.
So that's OK. But yeah, no, I do think like there's this.
debate going on with strategy and other treasury companies. And we see Kindly MD and Nakamoto
(40:01):
Holdings officially merged this morning and are picking up 5,765 Bitcoin to add to their balance
sheet. And so, you know, I think there's a lot of ways to look at it. The reality is that this
treasury company, Bitcoin treasury company, I guess if you want to call it adoption or new wave
(40:25):
is just getting started. And so a lot of people would say that MicroStrategy is, while they're
a clear leader, they are almost being diluted as people move capital into these newer companies
that have tremendous upside. And so if you want to play that game, awesome. But in the end, I think
(40:46):
the best strategy for most people, as Texas Toast was saying, is to just buy Bitcoin,
get it off the exchange, put it into self-custody, and forget about it. Live your life,
but join these spaces every weekday at 10 a.m. because we like to talk about this stuff.
So, yeah. So did anybody have any thoughts on my assertion that this Bitcoin treasury company trend is just getting started?
(41:18):
And for those of us who hold Bitcoin, you can look at it as a good thing or a bad thing.
But the way I see it is this is this was bound to happen. And these companies are maybe going to pose a future risk to the price. But I guess, as you guys have heard me say a ton of times, I'm not here entirely for the price.
(41:42):
Sure, it helps. But we're talking about all these other things, right? If we go back to Friday, we're talking about how it's freedom money. And so I like to focus on those things. But I know for people who are just getting into the space and trying to understand it, their best frame of reference is the price. And so I understand why we have these debates and these different opinions on this asset. But I think, do I see BFPs here?
(42:12):
No, that's a phantom hand. Never mind.
Yeah, real quick, Bob, on this.
You know, the thing is, when you've been here for a while,
and you understand the difference between Bitcoin and all of the other coins is one thing,
is for anyone that is new that is coming in,
and they hear things like this MSTR and MSTY,
(42:36):
and it gets conflated to where they think they have Bitcoin.
okay what they're not seeing is that centralization the middleman you're at the whim of whatever
sailor does you're at the whim of blackrock and everything not understanding the difference
and that's the problem is when when people start to conflate this to chase you which is fine okay
(42:59):
that's absolutely fine it's it's sometimes you got to get the message out listen i know you're here
And you think you're buying Bitcoin
What you're buying
Is sort of a share in this
Okay
And I'll give you an example
Someone that had heard me talk about Bitcoin
For some time
And finally said hey listen
(43:19):
I heard me talk about it for so long
I finally got some Bitcoin
And I was like oh great
So you know where did you get it
I just figured it in exchange
And I forgot what exchange I said
But yeah so I got this much XRP
And I'm like, what? He goes, yeah, XRP, it's a kind of Bitcoin. And you just shake your head because you want to help. But this is how it's like sort of information out there where Bitcoin itself has taken over the term of like a cryptocurrency and XRP is a type of Bitcoin.
(43:55):
You see?
Yeah, go ahead.
What kind of Coke do you want, sir?
Well, that's it. Yeah, exactly.
And so when we had this, and chasing yield was fine.
I'm not saying, oh, my God, you know, this is a scam or this is that.
Just understand what you're getting into when you're chasing yield,
which is fine, man, go for it.
(44:18):
Yeah I mean some people would argue we in a strategy bear market But it funny because you know it would stand to reason that this type of thing would happen I think a lot of people kept their they had their IRAs stranded retirement funds and they had access to buying strategy but they couldn buy Bitcoin
(44:40):
And, you know, this was prior to the ETFs.
And so a lot of people that own Bitcoin, they went and said, hey, I can get some additional Bitcoin exposure by moving my IRA or some of it into strategy.
And, you know, this would have been what, 2020, 2021, 2022, 2023, before the ETFs.
(45:04):
And they've seen, you know, one of the best performing stocks, which is great.
But if you're just a holder, like with Bitcoin, you just buy and hold and you forget about it.
And with something like strategy, I think a lot of people, you know, it's the one thing that they can trade in and out of in their retirement account.
(45:27):
And so I think a lot of people have lost that long term focus.
But as you guys are mentioning, there is this third party risk.
And now that you have the opportunity to just hold straight up Bitcoin or at least an ETF, why wouldn't you?
And so anyway, it's an interesting topic for sure.
(45:49):
I think we'll see.
Coleman has said, and I don't want to put words in his mouth, would love to have him up here if he's available.
but Coleman has been saying, Hey, this is something that'll probably be
something you don't want to hold probably until end of the third quarter,
into the fourth quarter.
Wonder if he has updated thoughts on that,
(46:10):
but maybe we can get them up here in the next couple of days.
What do you guys think just to shift topics here?
Cause I think we've kind of beaten this one up.
What do you guys think about,
Do you guys have any thoughts on this news that Tether has appointed Bo Hines to strategic advisor?
(46:32):
And for those who don't know, he was in the White House, and it looks like we do have Coleman coming up.
So maybe we'll put that topic on hold and let Coleman chime in and do his little happy dance because he was right about strategy.
Do we have you up here, Coleman?
(46:52):
Hey, can you guys hear me?
No, I'm sorry.
There's a little bit of a delay on my end.
So I just want to make sure I heard the question right.
We're talking that my thoughts or opinions on MicroStrategy.
(47:14):
Yes, sir.
Yep.
Just wanted to get an update from you.
I know you had said a couple of months ago you were short-term bearish,
at least on strategy.
Yeah, I don't think much has changed.
I always think it's kind of funny.
Bitcoiners, we always talk about having a long-time preference,
(47:35):
and they're supposed to remember things.
I don't think anybody really remembers what happened 12 months ago during last
summer.
Didn't we take a huge,
massive dip and we thought we're going to start crashing again to 50K?
it's kind of funny how we're seeing similarities happen right now and I think if you were tracking
micro strategy back last summer it's following the same trajectory and it didn't really start
(47:59):
kicking off until October Q4 so I would imagine it's it's probably going to follow a very similar
path and I think Bitcoin is just going to haul everybody to sleep I'm already seeing some people
post that we might have hit the top of the cycle and we could expect to start going down.
(48:21):
I just think just wait 45 days and then go back and check.
If you're in, if you're stacking Bitcoin, which I think everybody should be, I think
you're going to have some fantastic buying opportunities over the next month and a half.
I wouldn't be surprised if we start getting below 110, maybe retest that 100K line.
(48:43):
I just think summer is kind of a weird time for Bitcoin.
Same with September.
But I would make sure that I'm paying attention to what happens in October.
By the dip.
Wake me up when September ends.
(49:03):
What other things?
Did I answer the question, though, or no?
Yeah, that's good stuff.
I do think it's important for people to remember, like this is not a high time preference space, whether you're in Bitcoin or Bitcoin derivatives like strategy or ETFs or any of those things.
(49:26):
Go back and listen to last Wednesday's space about time preference, because I do think that people need to be reminded often that this is not the casino, even though and not to transition.
But I did see that a report that Dave Ramsey came out again and is doubling down or quadrupling down at this point on his stance against Bitcoin.
(49:51):
And I found it funny because it seemed like a friend of his was trolling him because he knows that Dave Ramsey is anti-Bitcoin.
And so it sounds like this friend of his bought $10,000 worth of Bitcoin and then told him about it.
And he had all kinds of very nasty things to say.
(50:16):
But it is funny now, though, that I think that people are starting to, you know, troll him a little bit.
And even those that are close to him that are not following his advice.
So I don't know.
I found that one funny.
(50:36):
Let's see.
What other ideas are people coming up with on anything that we've talked about this morning?
We have maybe about five minutes left in the show.
And Texas Toast, go ahead, sir.
Well, I told you, Bob, they have to be mocked in the submission.
They have to be made into a clown.
(50:58):
You know, and Peter Schiff, that guy on the Wolf of All Streets morning show, Monday macro morning show.
It's like they're all going to be wrong and I'm going to laugh at them.
We will troll them forever until they capitulate.
(51:19):
And if they don't, they can have fun staying poor.
All right.
yep as i've said that's one tactic um maybe i'm just too nice coming from the banking space i was
always you know steeped in customer service and so now i'm just like uh
i think it's funny actually when people uh say those things that you're saying but i also
(51:46):
then try to uh put myself in the shoes of of these people i do think that the people who are
outspoken deserve it a little bit more, right? Like Dave Ramsey, Warren Buffett calling Bitcoin
rat poison, and then eventually rat poison squared. I do think that the ones who have
(52:06):
just been either too lazy or intellectually dishonest probably need a little bit of that
mockery. But this is the game, right? It's a social experiment, and it takes all kinds.
And so we're happy to share both perspectives.
(52:27):
And yeah, I think it's fun, right?
Like we can laugh at other people.
We can laugh at ourselves.
But yeah, let's finish out the show.
Do you guys think this Tether announcement is a big deal or not?
Obviously, it's looking like the Bitcoin strategic reserve is not going to happen, at least this go round.
(52:53):
And so do you blame Bo Hines for leaving the White House and the crypto initiative and going and getting his payday at Tether?
And then also, do you guys think that Tether is smart and has, you know, as having this guy be part of their strategic advisory, does it give them an extra leg up as we see stable coins did pass with the Genius Act?
(53:25):
yeah i think it's just more of the status quo and i think people you know
don't really realize that all all or most of these people in the white house and in these
important positions you know they're all businessmen for the most part or in large part
(53:46):
and we're going to see more and more turnover like this back to the private sector
and uh in my mind i'm just seeing how it's it's going to be corporatized that everybody's going
to make their try to make some money off of it um but if you're looking from like stuff coming
from the state or like a state state run anything um i just don't think we're in that era we're in
(54:09):
we're in an era of decentralization and that includes um with businesses you know some they're
going to try to centralize it, not at the government level, but at the business level.
And we'll see if that works. I don't think it will in the long run. But to me, that's the path
we're on. And we're going to see a lot of these people, SACs included, probably turn over, you
(54:33):
know, by the time somewhere in the second half of the administration, you would think that we're
going to get a rollover and get some fresh blood in there. And these guys are going to go back to
their businesses and continue to rake in billions of dollars.
So I think it just kind of sets everything up for this banking-led stablecoin future.
(54:59):
I think Wyoming announced that they're running their state-issued and backed stablecoin now.
So that's kind of interesting.
but they're building out the banking and stable point infrastructure.
So we'll see.
(55:19):
Maybe I can trigger TC to get really pissed off about stable points.
He can come tell us off.
Yeah. Does anybody have any other thoughts?
And I do see TC down there.
I see Trey Sellers enjoy the, I said,
I was talking about Dave Ramsey earlier and,
(55:41):
his recent comments, but makes me think of Trey a little bit with his fire BTC.
Would love to have him up in, if not today, some other day to chat about this stuff.
But it is fun, guys.
I think there's a lot of things going on, and I do think the voices and the dissent
(56:04):
and the fear will continue as we go sideways here.
and there may be, like Coleman was saying, even a nice little dip, but I'm going to forewarn you
that that dip, if it occurs, that you should be thinking of it as a nice opportunity to buy that
(56:24):
dip and to stack additional sats. So just prepare yourself now. Like if it happens, awesome. If
you're still able to stack, you should be considering that. Really, it just comes down to
your positioning, your mind, what you're doing.
And if you've already over leveraged yourself, I'm sorry.
(56:46):
But these are the lessons people have to learn.
So, yeah, let's go around the horn, see if anybody else has anything else that they want
to add before we wrap up the show this morning.
Neil, go ahead.
No, I was just, it's actually nice just listening to a bunch of things that people are saying
(57:08):
stuff to chew on um yeah appreciate it ac coleman manimal
all right silence is bliss awesome uh but guys want to thank everybody for
(57:29):
showing up today everybody who listened in everybody who is up on the stage would love to
continue the conversation tomorrow, 10 a.m. Eastern. We're going to have special guest
Rod Rudy from Bitcoin Park. Would love if you guys would join us either to chime in and ask
questions or just listen in and hear more about Bitcoin Park, the Imagine If Summit,
(57:53):
and those things. By the way, speaking of summits, if you're interested in Bitcoin
Veterans Summit coming up November 10th and 11th, please visit bitcoinveterans.org
forward slash summit 2025.
And that's really guys all we have for today.
This was a fun taco Tuesday.
(58:14):
Thanks again for joining us.
We'll do it again tomorrow.
And remember, please, please, please do not shit coin.
It's like buying a Bitcoin treasury company and not holding any Bitcoin
yourself.
(58:35):
All people that use fiat currency as a store of value, we call them the core.
We call them the core.
(59:05):
Thank you.
Thank you.
(00:30):
All right, good morning, everybody.
How's it going today?
I'm getting a little bit of an echo as usual, and I was playing around with some equipment
this morning and nothing was going the right way.
(00:51):
So hopefully you guys can hear me loud and clear.
Give me a thumbs up or thumbs down and I will know that you can hear me.
We have some people looking to come up on stage.
Happy to have you.
Happy to have you.
If you're just listening this morning, thank you.
Appreciate it.
But yeah, I want to be one of the first to wish you a good morning.
(01:16):
And I'm rearranging the stage a little bit.
But I wanted to welcome you to Bitcoin Veterans Spaces, number 246, where we talk about Bitcoin.
My name is Bob Van Kirk. I will be your host this morning.
And hopefully we can get Texas Toast up here.
Having a little bit of trouble getting him up here, but we will do it.
(01:41):
And I'm also joined, it looks like, by BFP, Neil and AC.
If you're in the audience and would like to come up, love to have you.
Looks like we have Bitcoin Jesus and Coleman, who are frequent contributors to the space.
We'll try to get them up there.
But yeah, if it's your first time, welcome.
Welcome in.
Happy to have you.
And let's look at the stats for today.
(02:05):
It is Tuesday, August 19th, 2025.
And we are sitting at Bitcoin block height number 910,753 with the Bitcoin price right around $115,300, which means you can still pick up 867 sats for each U.S. dollar.
Wanted to make a couple of announcements this morning.
(02:27):
As I've been mentioning, Bitcoin Veterans wants you to mark your calendar for November 10th and 11th in Nashville.
Second annual summit.
Please consider joining us.
Going to have a great time.
First day is going to be the conference day.
Lots of good speakers, panel topics, all kinds of stuff going on.
(02:49):
You'll get your learning on.
And also, the second day is going to be range day.
So if you'd like to learn how to shoot a firearm safely, or if you're a seasoned veteran and want to have some competition with some other people who know how to shoot a firearm, please join us.
(03:13):
Bitcoinveterans.org forward slash summit 2025.
If you guys, any of you guys want to apply to be a speaker, you can do that at that website as well.
But would love to have you in attendance in Nashville in November, right around Veterans Day there.
So let's see.
Tomorrow, we do have Rod Rowdy from Bitcoin Park.
(03:35):
So you won't want to miss him as our guest.
Should be a great discussion.
Excited to have him on the show and hear all about Bitcoin Park, their Imagine If Summit that's coming up,
and all the other stuff, all the other wisdom from Rod.
So please do join us tomorrow, 10 a.m.
We'll be doing this again.
Let's see.
(03:55):
Last announcement for today.
We'll be looking for a producer for the show.
So if you're interested, if you want to come up with better names for each morning's show, please do DM me.
We can get you plugged in to the Signal Back Chat.
(04:16):
and would love to have anybody who is interested in helping grow the show,
the content, and the audience.
It would be awesome to have your help.
Wanted to give a shout-out to Coleman, who's in the audience.
Thanks for uploading all of the recordings of this to Fountain
(04:37):
and maybe some other platforms.
But, yeah, guys, we could use some help and love doing this every morning,
love hanging out with you guys,
come up with a variety of topics. And if you'd like to see one, always love hearing what people
are thinking about. So with that, I wanted to go around the horn and stay good morning. Texas Toast,
(04:59):
how are you this morning, sir? Good morning. Another wonderful day. Ready to get after it.
That's great.
Neil, how are you, sir?
I couldn't be better.
I don't know.
It's starting to get on a swing.
(05:19):
And I don't know.
It's great when the momentum you have built in one day carries over to the next and the next and the next.
It's addicting.
Yeah, good stuff.
BFP, good morning.
Good morning.
No birds, but a little matrix.
(05:41):
We'll let you get that sorted out.
Pubby, thanks for joining us.
How was your teeth cleaning yesterday?
Hey, not bad at all, man.
You've got to stay on top of that dental health.
Yeah, Taco Tuesday, a good lead in there.
Producers, I don't know if producer Jacob's still around.
I know he was doing stuff for Swan, but he's a good guy.
(06:02):
And yeah if not
Tomorrow you can do Wing Wednesday
As your show title
Ooh I like that
Do you prefer plain
Or some sauce or what's your thing
Some people like the buffalo style
What do you like
Yeah so yep pro tip
Okay I like the
You get the rubs
(06:23):
You find a nice rub in there
But then you get a side order of whatever sauce you like
So you get the rub and dip
As much as you want on there
and and it's ranch not blue cheese that you get with it so that's that's my go-to
hubby this is a family friendly show um i think you should tone it down with your uh rub and dip
(06:45):
but thank you for that that's beautiful ac how are you this morning
good morning guys great to be here thanks
all right guys well i think we've gone around the horn we'd love to have other people
come up. Sorry, guys. Try to keep it light, make fun of myself and others. It's all in good fun.
We should be having a good time as Bitcoiners, whether you like tacos or not. I tend to enjoy
(07:13):
them on Tuesday if I can for lunch. And I think I'm going to actually have some beef tacos this
afternoon. My wife informed me, so I'm excited about that. And I hope you are too.
So, let's see. Topics for the day. I think there's a lot of different things going on.
(07:35):
But, you know, one thing that I've been looking at, and I actually wrote an article about Signal, private messenger.
A lot of people in this space have used it for a variety of reasons.
Good place to be on groups and, you know, individual communications.
but one other tool that has kind of come up in the last couple of weeks,
(07:59):
maybe three weeks now, is this BitChat.
This is Vibe Coded by Jack Dorsey a few weeks ago,
and I did download it over the weekend.
And, yeah, I was thinking of different use cases,
and maybe I can share a little of those.
But interesting thing.
(08:21):
What it does is it connects, for those that don't know, it connects via peer-to-peer over Bluetooth.
And so no other network connection available or needed.
And what this could allow you to do is in case, excuse me, in case of an outage, an internet outage,
(08:44):
you may be able to have a mesh network and communicate still.
So lots of interesting use cases, I think, but just curious.
Anybody on the stage played around with it, used it, thought about it?
It is available now for Android and iPhone.
(09:05):
And so just curious if anybody has taken the steps to download and install it on their device.
I have not.
I just wonder about the range.
Like that's kind of the whole thing is what is the range that you can push out on a Bluetooth?
Yeah, certainly limited.
But because it's a mesh network, conceivably, if I could have, you know, my neighbors download it or, you know, you think of being in a I actually was talking to my wife about this.
(09:38):
It's like, hey, if we were ever on a plane and we don't have messaging because we don't have connection to the Internet or the Internet's down, might be helpful to have this communication between us in a close proximity like that.
Go ahead, Texas.
Yeah, yeah. And if you're, you know, the only other applicable or one other applicable thing I could see it being used for, it's like an apartment complex or a giant building.
(10:04):
They could use that to communicate to their residents and like an emergency and all kinds of stuff.
It makes sense on a, if you're going vertical, but if you're going horizontal across big distances, it doesn't make a lot of sense.
Just my thoughts.
Yeah, I think these things, you know, as we've seen with Bitcoin, these things all come down to network effect, right?
(10:32):
So if you could get enough people using it, conceivably, even though you and I are, say, 50 miles away from each other,
I could send a message and it would hop through all the peers and eventually get to you.
And we're all connected just over Bluetooth.
So if there's nobody downloading it and using it, you're not going to be able to get that message all the way across a mesh network that doesn't exist.
(10:59):
Right. So one of the things I think is interesting is it does keep you anonymous, but you can favorite people and identify them or mark them in the app.
You can do a group by default. You can do like a group chat for any of the peers that your phone sees.
but then it also will allow you to obviously private message people.
(11:23):
So I'd encourage you if you can try it out.
It's an interesting technology.
I find it interesting.
Like I was at church over the weekend and I was like, huh,
I wonder if anybody has this running on their phone.
Sure enough, they did not.
But one day I'm just dreaming one day,
like when I was sitting in a boardroom in the maybe mid teens.
(11:46):
and talking to the bank that I worked for about Bitcoin.
And they all just looked at me with a blank stare,
kept their eyes on their paper
and did not want to hear anything about it.
And now here we are with all of you fine folks
enjoying this Taco Tuesday.
(12:08):
And so, yeah, I don't know.
I just, I think this is going to be one of my things.
I think I'm going to encourage people
to download this app.
It's not that hard.
And it's a pretty simple, low-level app.
And who knows?
Maybe it's something that could be useful.
Too bad, you know, we, I don't know.
(12:31):
I think people are, you know, trying to push out Noster and other networks.
And those have had limited success as well.
And so maybe we'll see it like that.
But surely, slowly but surely.
And I think people will adopt these technologies.
So, yeah, I see your hands there.
Go ahead.
(12:52):
Do they have it on Google or just Apple?
Because I looked for it in the Google Play Store.
Couldn't find it.
Yeah.
And that could be a barrier for sure.
So right now, because it is open source, it is.
And I'm trying to get a couple people up here.
Sorry for the delay there.
But, yeah, you can sideload it on Android.
(13:17):
So, essentially, there's a GitHub out there for it because it's open source.
And so, you can very easily go to the GitHub, download the APK, and then you do have to change this default settings on your phone so that you can load an APK that has not been published in the App Store.
(13:38):
So, hopefully, that helps.
I'm not sure if you've ever done that before, but I think it's, they give you instructions in there.
Neil, good morning, sir.
What's up?
Yeah, I mean, I don't really know too much about the app, but the thing that jumps out to me is just like, you know, again, this principle of decentralization.
(13:59):
And when you push on that lever, like things that you can't imagine, like just like you're saying, no one's at your church, whatever is this stupid thing that doesn't have any function.
But like you keep increasing decentralization, decentralization.
And then like at some tipping point, you know, just like something unlocks, you know, where the thing that you thought was completely impossible is now just normal, regular and assumed.
(14:30):
You know like that that an amazing thing to like to be reaching for this idea that our comms and the way we connect like we can just completely circumvent the traditional centralized you know lanes of your provide like your you know your wireless carrier or your internet service provider or all these things Like I I very happy that
(14:57):
people are at least thinking in that way. You know, it's like, it works for money. Why would
it not work for other domains? And it's like, I don't know, it's a great time to be alive.
yeah and it's like anything you know people don't use this stuff until they really need it and it's
like man that would have been nice to have and so the more we can get information out there
(15:19):
um i do think people hopefully adopt these things uh but unfortunately
no pain no gain right and i i think that that's the same like we look at and talk about people
who are no-coiners or who just refuse to pay any attention or do any study.
(15:39):
And a lot of times the main reason is because the fiat system has served them extremely well
and they just don't feel like they have this need.
And so I'm going to put a couple of things up in the nest this morning.
One is the BitChat thing.
(16:01):
It should be loading here in a second.
And then also I do see some hands. So let's go to those.
And then we can talk about my other topic here in a little bit once we exhaust this one.
So I think I saw, well, maybe Manimal, maybe AC, you guys sorted out.
(16:24):
Hey, morning, Bitcoin Warriors.
I'm just curious if people have been or what everybody's opinion is on the Bitcoin core versus not kind of debate going on right now when it comes to spam filtering.
It seems like there's a philosophical debate side to it and a technological debate side to it.
(16:47):
So I'm just curious what the OGs on this podcast or this channel have to say about it.
And then also curious what people think about BlackRock owning over 11 million shares of MicroStrategy
and maybe dumping those shares one day to scoop up some cheap corn maybe during the next bear market.
(17:11):
So those are my two thoughts for the day.
I'm just curious what everybody has to say about that or anybody has to say
about it.
Yeah. Thanks for coming up and contributing.
Always love to have people bring up some of these topics.
We did cover a little bit yesterday,
but if someone wants to jump in and kind of sum things up,
(17:32):
I think AC had some good comments on it yesterday.
And I think he has maybe something else to contribute this morning.
So AC, can you check your mic here, sir?
Yeah, how's it going, guys?
So before we pivot the conversation, and to be honest, I'm exhausted with that one, and I'm not going to touch it because I'm tired of, you know, this ongoing no one comes to an agreement, Bitcoin Core versus not.
(18:00):
So somebody else can talk about that.
Really kind of reverting back to BitChat.
I did put an image in the comments, so you guys can check that out. There was actually a product that launched in the 20 teens, so to speak, and it was FireChat. Very similar technology, did not include the encryption or the other group chat functionality, but it did create a mesh network over Bluetooth, and really it was not used predominantly until times of crisis or need.
(18:35):
And really, that's where I see this product fit that particular niche. It's one of those things from a military background that would be in your pace plan and typically in the emergency section of that pace plan.
The challenge that I think BitChat is going to have, and it's similar to a lot of these other products that Bitcoiners have talked about or looked at in the past, whether that's SimpleX, White Noise, or Keat, and that's adoption.
(19:02):
And Bob, you kind of alluded to that is if your network of people or the people that you communicate with the most do not adopt the product, then you're not going to be able to communicate with them.
We see that, especially in Bitcoin, trying to get those people closest to us involved, interested, curious in Bitcoin.
(19:22):
But we also see it in, you know, secure messaging apps.
Like, I don't know how many times you guys receive messages from people over clear text SMS and you talk to them about end to end encryption with Signal or with other products.
Maybe it's something more centralized like Facebook Messenger or WhatsApp or something like that, maybe Telegram.
(19:44):
And so I think adoption is going to be the biggest challenge.
But I encourage people to think about things in, you know, what's your primary alternate contingency and emergency means of communication.
And, you know, I was at another conference just a couple of weeks ago, and they set up an extremely large Mesh-tastic network.
(20:04):
And it was kind of the same thing.
There were a lot of people walking around with devices, but very few people actually transacting messages over the Mesh network.
So I think that we are at a similar time to the early dot-com era where there's a lot of experimentation taking place in the space.
(20:25):
And really, it's going to boil down to adoption.
And people are going to centralize to the best product with the best UI and the best functionality and the most users.
Thanks.
Yeah, thanks, AC.
And I do think you're right.
it's hard, especially when you're at conferences.
(20:45):
You're like, hey, wouldn't it be cool if we really set this thing up and everybody adopted it?
But usually people are at conferences trying to make in-person connections,
and so they tend to ignore their phones a little bit.
And while the experiment would be cool, it is difficult to get people
who are there to make, like I said, in-person connections
to be looking at their phones. Texas Toast, go ahead, sir.
(21:09):
Yeah, it seems like with any of these technologies, it's kind of a catch 22 where, you know, it's decentralizing in nature, but it also requires nodes and it requires you to be a node in a lot of these systems.
So, you know, I kind of envision a bunch of different technologies, ways to do things going forward, and kind of each community is going to attach or kind of going to build out what they think is best, whether it's MeshTastic or this Bluetooth.
(21:46):
It kind of all depends on the size, the place.
It's like each one of these technologies has its benefits and weaknesses.
And I just see a world where a lot of these, a lot of different things get stood up for each size community.
But it takes some sort of leadership or centralized position to really enact them.
(22:10):
So it's a weird kind of double-edged thing.
But, yeah, it's better than like your state government mandating it for everybody.
But maybe, who knows, what would be better?
All these different things or one specific network that's mandated from the top down?
(22:33):
Yeah, it's interesting.
Bobby, you go ahead.
Yeah, just real quick to answer NAS versus Core.
the solution is to buy Bitcoin in self-custody.
That's as far as I've gone down that rabbit hole.
Two, when it comes to comms,
the last thing I need is another fucking form of communication, man.
(22:56):
And, you know, like I say,
I like to pull out the Pace communication plan
because I got to put one out whenever I travel.
But dear God, man, we have, like you say,
even with Twitter, you get your Twitter DMs,
regular text messages. I got WhatsApp. I got Signal. There's Telegram. You're getting hit by
five different places in the same stuff. So, yeah, if something comes out like that where it runs off
(23:21):
a mesh network, you see it in an emergency. But like everything else, it's like, who's using this
stuff? That's one of the hangups right now with Nostros who's over there, okay, who's going to use
it because there's like three people that are talking to each other, and that's about it.
So I've always been there
If you can share that up in the nest
(23:41):
I'll take a look at it
I'm interested to see
But the real emergency is going to be
When internet, wifi, all that
If it drops
Do I now go get a ham radio
And learn that? I don't know
And what are we going to say to each other
Hey, do you got anything to eat
Because all the supply chains are down
And I don't have a garden
(24:02):
It's all land and plain air
Yeah, I mean to me it's going to be embedded
in whatever, you know, community emergency app, they're going to, they're going to kind
of have the community download, whether that's an HOA, like creating their own app and you
can pay dues and stuff through it.
And then you have this bit chat embedded into it, um, so that you can all communicate like
(24:23):
stuff like that, especially as it becomes easier to build these apps, um, and five code
them, you know, in a weekend, um, stuff like that becomes really accessible and easy to
create.
So we'll see.
Are you old enough to remember CB radios?
(24:43):
For those of the younger.
Yeah, I used to have a handle.
Yeah, man.
Yeah, that's how you got across the country.
You had your Rambic Nally map
and a CB radio.
Ask truckers where to go.
Yeah, and then to get back
to Manimal,
yeah,
(25:05):
For me, it's just having Bitcoin, the knots versus core.
It's like beating a dead horse.
Pick your own adventure.
It's the same thing with this comm stuff.
It's like you do whatever you want to do.
It's not once you get to that level and you run whatever node fits your preferences, move on.
(25:33):
because otherwise it's just going to, it can eat you up and make you, you know, question.
To me, it's one of these FUD points that we'll look back on in five years.
And, you know, to me, it's just good that the operating, not operating systems, but the,
you know, Knott's first core, there'll probably be another one coming up soon.
(25:57):
You got ocean decentralizing mining and the pools in that way.
the more of these things get out there, I think the better.
So that's where I stand on it. And then with micro strategy, it's like, dude,
just buy Bitcoin. It's always been that way. It's like, if you're trying to chase these
(26:18):
ridiculous gains, if you have like 50% of your portfolio and micro strategy, I'm sorry, you're
dumb. That's way too much risk. You're at the end of the day, you're trusting a third party
intermediary between you and your Bitcoin. So, you know, maybe it's good for a couple percent,
but anything outside of that, and I think you're taking on way too much risk.
(26:41):
Coleman is cheering there in the audience. Go ahead, man.
No, for sure. I mean, look, if BlackRock dumps MicroStrategy and forces MicroStrategy to somehow
sell their Bitcoin portion of the Bitcoin position, I'll be cheering because I'll get
a lot more Bitcoin at a cheaper price.
I mean, I'm totally fine with it.
(27:03):
I'm just curious.
I'm just curious what people think about
Larry Fink and BlackRock.
I don't know if you dropped for everybody else,
but you dropped for me.
The, you know, BlackRock, Larry Fink's going,
(27:26):
Now he's the interim head of the World Economic Forum.
Yeah, it's it's it's can be scary to me.
I just look at it as the world is trying to get their hands on Bitcoin.
All right. Sorry, I had to mute you. I don't know what happened.
(27:49):
But the world's trying to get their hands on Bitcoin.
and, you know, they think they're going to attempt to try to control it.
We'll see.
We'll have to just kind of keep an eye on it and see what their angle of attack is
and talk about it.
And then we can all kind of move the other direction if it becomes a danger to the network.
(28:14):
But for now, I don't think that's the case.
until it proves to be a legitimate threat.
I just see it as Bitcoin embedding itself into everything.
And this is just sort of what we talk about.
The nice thing about just having your Bitcoin,
your regular stack and self-custody
is I don't have to worry about what Larry Fink does.
(28:37):
I don't have to worry if Michael Saylor is diluting shares
and MSCR people are sort of pissed off.
You don't have to worry about that stuff
Because guess what? You've got the original. You've got the Bitcoin and you self-custody.
Now, other people get to argue about this stuff, core versus nots, people going back.
Guess what? When everyone was talking about ordinals that whole time, ordinals and inscriptions, dear God, for six months, it didn't change anything about the way I would stack Bitcoin.
(29:07):
And look now, and you think about all the time and energy wasted on that for some people.
you know look back just stick to the original plan that's what that's always been my sort of
thought on this and like i say you can you've got the luxury then to come in from the outside and you
can you can play this as a just a like a thought game all right so yeah what if uh we do get this
(29:29):
etf you know what is this well that that that for other people to worry about other people that are now concerned with something that is centralized and chasing yield which wasn what brought me and many others to Bitcoin
But now they've got something else to worry about in their life.
Yeah, and if you run Bitcoin, you know, one of the great things about Bitcoin is it's backwards compatible.
(29:55):
So it's like if you run an older version, you never have to upgrade, you know, theoretically.
Like maybe some of the more technical guys would say you do eventually, probably.
But for a long time, you can really wait out all the noise and all the arguments and kind of see what happens.
And then, you know, if something makes sense, you go that direction.
(30:16):
Yeah, good stuff.
Did want to say good morning to Tao and B Solo.
Feel free, guys, to jump in anytime.
Love to have new voices.
Tao's up here quite a bit.
But Vsolo, good to see you and good morning.
We can continue on on this topic.
Otherwise, another news that I wanted to get to this morning is Ronin Dojo, who is, if you guys aren't familiar,
(30:46):
is one of the more popular node softwares that is focused on privacy, announced that they have
released an update to their software. And it allows for some interesting, interesting things.
And I think, I don't know, I was just kind of pouring through it late yesterday. And one of
(31:10):
the things that it offers is something where when you send a transaction through your node,
it won't be immediately pushed to the Bitcoin network, but instead sent to a random node
on the network, which will push it to the Bitcoin network. So what this means is that
(31:30):
your node will receive other people's transactions and will also push these transactions to the
Bitcoin network, which further obfuscates the origin of the transaction because the maker
or a transaction does not have to be connected with a Bitcoin node that relays the transaction
to a network. So I know I said node, network, maybe Pubby's having a little sip of coffee for
(31:53):
every time I said node and network in that little blurb. But yeah, I don't know. I think this is
interesting. What are you guys' thoughts on this? I mean, maybe it's not such a big deal for a lot
of people, but I do think that this is an interesting development, that they're building
(32:15):
almost a sub-network of nodes that will allow for further obfuscation of transaction broadcasting
across anyone running their node software.
Have you guys ever had cricket on your top?
(32:38):
Okay, go ahead.
I was going to say it's par for the course.
The privacy war is in full swing now, and that's where they're going after Bitcoiners.
So I think more privacy technology needs to come out,
and people need to hide their identities who are making it,
(32:59):
because it's going to get ugly.
especially with Black Rock's Larry Fink,
who I knew couldn't have been a good actor,
and now he's working for the World Economic Forum and Black Rock.
I mean, the writing's on the wall.
(33:21):
AC, go ahead.
Yeah, so this update to Ronan Dojo, I think it's pretty awesome.
I shared a previous post that I'd made a while back, both in the comments and in the Nest.
And it was just a conversation of how somebody might think about using their node.
(33:45):
And so back to Manuel's comment, I think the most important piece isn't if you decide to run core or not.
Really, it's are you running a node?
And Tao did a great space last night talking about nodes and kind of walking through with somebody on how the thought process and decisions that you would make in running a node.
(34:08):
But the bottom line is you use your node to verify, don't trust, verify your transactions and your addresses and validate that, you know, what you see is actually true.
But really, the other piece of that that I like to think about is what Ronin Dojo did is what a lot of people, myself included, have been doing manually.
(34:32):
And that is, you know, you use your node to validate your addresses and your transactions, but broadcast using someone else's node.
And there's a really technical reason behind doing that.
And what Ronin Dojo is doing is they're kind of automating that process a little bit.
And so when that transaction is broadcast, it's not coming from a particular node and then spreading from its nearest peers, which you can see on your node if you're running one, and then propagating throughout the gossip network.
(35:04):
And so what they're doing, I think, is increasing privacy for Bitcoiners who choose to run that particular node.
And I'll land it there, but I think it's a good thing for the community and for the network overall.
Yeah.
Yeah, good stuff. Who else? Go ahead.
Hey, Bob, I just want to jump in here with the whole not and core thing.
(35:30):
Just really quickly, I think a lot of people are still misinformed about how it actually works.
I don't think people have enough information to properly make a decision that they want to make a decision on.
Because some aspects are very, very deep, very technical that may not necessarily affect the thinking.
(35:58):
But then some things are just so ideological that people use that to influence what they believe in.
And so, you know, I've been on actually both sides from day one as I was like getting more information.
But as I was getting more and more information, I realized, I'm like, hey, you know, I'm fairly well technically fluent and know tech fairly well.
(36:26):
But yet, I was still missing a lot of pieces into this whole sort of like contention.
I didn't understand that, oh, this offer this and this offer that, et cetera.
Or this is the belief that was on a certain side, et cetera.
And so I just think a lot of people are still missing that information.
And it's a lot of things out there because when I hear people kind of talk about it or discuss it, you can see it.
(36:53):
You can see that, hey, they're just not bringing things up that didn't make sense or just false entirely.
and I hold several spaces just for the topic itself,
not a way not to debate or anything,
but for myself to learn and for others to learn as well.
(37:15):
And you realize, wow, there were so many things,
so many layers to the conversation that a lot of people missed out.
So I'll just recommend people who are really passionate about this sort of thing,
learn as much as you can and form whatever decision you want to form.
And then quickly on the MSTR thing that you guys mentioned earlier,
(37:40):
I think last month or something, I got some MSTR shares
because I was thinking, you know, this is a new thing.
It seems promising.
And also, who is kind of sort of leading the effort?
and I was like, MSDR seems like someone I should buy.
So I bought some, but during that time actually,
(38:04):
during that whole week, a period,
I've been contemplating quite a bit, like should I get it?
And not like, it wasn't even long,
but just three days later after I bought it, I sold it.
Because I realized that why am I putting my money
to let somebody hold my Bitcoin?
(38:25):
when I can hold my Bitcoin myself, right?
The way I see it is that the only way that micro strategy can go up
is if Bitcoin went up.
And if Bitcoin goes up, then that means I already have the asset.
So to me, I just felt this third party risk
(38:47):
was just something you can't control,
like you guys mentioned many, many times before.
It's not necessary.
You have operational risks.
You have potential accounting risks.
You don't know what anybody's doing.
So why just have all that noise?
And why not just buy your Bitcoin and just co-storage it?
(39:10):
And so, yeah, I sold it literally three days after I bought it.
And I'm so grateful for that.
I mean, I'm still bullish on what they're doing potentially in the future.
But, you know, I just rather hold my Bitcoin and I recommend a lot of people do the same.
That's it. Thanks.
Not financial advice.
(39:34):
No, but I appreciate you sharing that.
And I think we lost our one of our newly news participants.
So that's OK. But yeah, no, I do think like there's this.
debate going on with strategy and other treasury companies. And we see Kindly MD and Nakamoto
(40:01):
Holdings officially merged this morning and are picking up 5,765 Bitcoin to add to their balance
sheet. And so, you know, I think there's a lot of ways to look at it. The reality is that this
treasury company, Bitcoin treasury company, I guess if you want to call it adoption or new wave
(40:25):
is just getting started. And so a lot of people would say that MicroStrategy is, while they're
a clear leader, they are almost being diluted as people move capital into these newer companies
that have tremendous upside. And so if you want to play that game, awesome. But in the end, I think
(40:46):
the best strategy for most people, as Texas Toast was saying, is to just buy Bitcoin,
get it off the exchange, put it into self-custody, and forget about it. Live your life,
but join these spaces every weekday at 10 a.m. because we like to talk about this stuff.
So, yeah. So did anybody have any thoughts on my assertion that this Bitcoin treasury company trend is just getting started?
(41:18):
And for those of us who hold Bitcoin, you can look at it as a good thing or a bad thing.
But the way I see it is this is this was bound to happen. And these companies are maybe going to pose a future risk to the price. But I guess, as you guys have heard me say a ton of times, I'm not here entirely for the price.
(41:42):
Sure, it helps. But we're talking about all these other things, right? If we go back to Friday, we're talking about how it's freedom money. And so I like to focus on those things. But I know for people who are just getting into the space and trying to understand it, their best frame of reference is the price. And so I understand why we have these debates and these different opinions on this asset. But I think, do I see BFPs here?
(42:12):
No, that's a phantom hand. Never mind.
Yeah, real quick, Bob, on this.
You know, the thing is, when you've been here for a while,
and you understand the difference between Bitcoin and all of the other coins is one thing,
is for anyone that is new that is coming in,
and they hear things like this MSTR and MSTY,
(42:36):
and it gets conflated to where they think they have Bitcoin.
okay what they're not seeing is that centralization the middleman you're at the whim of whatever
sailor does you're at the whim of blackrock and everything not understanding the difference
and that's the problem is when when people start to conflate this to chase you which is fine okay
(42:59):
that's absolutely fine it's it's sometimes you got to get the message out listen i know you're here
And you think you're buying Bitcoin
What you're buying
Is sort of a share in this
Okay
And I'll give you an example
Someone that had heard me talk about Bitcoin
For some time
And finally said hey listen
(43:19):
I heard me talk about it for so long
I finally got some Bitcoin
And I was like oh great
So you know where did you get it
I just figured it in exchange
And I forgot what exchange I said
But yeah so I got this much XRP
And I'm like, what? He goes, yeah, XRP, it's a kind of Bitcoin. And you just shake your head because you want to help. But this is how it's like sort of information out there where Bitcoin itself has taken over the term of like a cryptocurrency and XRP is a type of Bitcoin.
(43:55):
You see?
Yeah, go ahead.
What kind of Coke do you want, sir?
Well, that's it. Yeah, exactly.
And so when we had this, and chasing yield was fine.
I'm not saying, oh, my God, you know, this is a scam or this is that.
Just understand what you're getting into when you're chasing yield,
which is fine, man, go for it.
(44:18):
Yeah I mean some people would argue we in a strategy bear market But it funny because you know it would stand to reason that this type of thing would happen I think a lot of people kept their they had their IRAs stranded retirement funds and they had access to buying strategy but they couldn buy Bitcoin
(44:40):
And, you know, this was prior to the ETFs.
And so a lot of people that own Bitcoin, they went and said, hey, I can get some additional Bitcoin exposure by moving my IRA or some of it into strategy.
And, you know, this would have been what, 2020, 2021, 2022, 2023, before the ETFs.
(45:04):
And they've seen, you know, one of the best performing stocks, which is great.
But if you're just a holder, like with Bitcoin, you just buy and hold and you forget about it.
And with something like strategy, I think a lot of people, you know, it's the one thing that they can trade in and out of in their retirement account.
(45:27):
And so I think a lot of people have lost that long term focus.
But as you guys are mentioning, there is this third party risk.
And now that you have the opportunity to just hold straight up Bitcoin or at least an ETF, why wouldn't you?
And so anyway, it's an interesting topic for sure.
(45:49):
I think we'll see.
Coleman has said, and I don't want to put words in his mouth, would love to have him up here if he's available.
but Coleman has been saying, Hey, this is something that'll probably be
something you don't want to hold probably until end of the third quarter,
into the fourth quarter.
Wonder if he has updated thoughts on that,
(46:10):
but maybe we can get them up here in the next couple of days.
What do you guys think just to shift topics here?
Cause I think we've kind of beaten this one up.
What do you guys think about,
Do you guys have any thoughts on this news that Tether has appointed Bo Hines to strategic advisor?
(46:32):
And for those who don't know, he was in the White House, and it looks like we do have Coleman coming up.
So maybe we'll put that topic on hold and let Coleman chime in and do his little happy dance because he was right about strategy.
Do we have you up here, Coleman?
(46:52):
Hey, can you guys hear me?
No, I'm sorry.
There's a little bit of a delay on my end.
So I just want to make sure I heard the question right.
We're talking that my thoughts or opinions on MicroStrategy.
(47:14):
Yes, sir.
Yep.
Just wanted to get an update from you.
I know you had said a couple of months ago you were short-term bearish,
at least on strategy.
Yeah, I don't think much has changed.
I always think it's kind of funny.
Bitcoiners, we always talk about having a long-time preference,
(47:35):
and they're supposed to remember things.
I don't think anybody really remembers what happened 12 months ago during last
summer.
Didn't we take a huge,
massive dip and we thought we're going to start crashing again to 50K?
it's kind of funny how we're seeing similarities happen right now and I think if you were tracking
micro strategy back last summer it's following the same trajectory and it didn't really start
(47:59):
kicking off until October Q4 so I would imagine it's it's probably going to follow a very similar
path and I think Bitcoin is just going to haul everybody to sleep I'm already seeing some people
post that we might have hit the top of the cycle and we could expect to start going down.
(48:21):
I just think just wait 45 days and then go back and check.
If you're in, if you're stacking Bitcoin, which I think everybody should be, I think
you're going to have some fantastic buying opportunities over the next month and a half.
I wouldn't be surprised if we start getting below 110, maybe retest that 100K line.
(48:43):
I just think summer is kind of a weird time for Bitcoin.
Same with September.
But I would make sure that I'm paying attention to what happens in October.
By the dip.
Wake me up when September ends.
(49:03):
What other things?
Did I answer the question, though, or no?
Yeah, that's good stuff.
I do think it's important for people to remember, like this is not a high time preference space, whether you're in Bitcoin or Bitcoin derivatives like strategy or ETFs or any of those things.
(49:26):
Go back and listen to last Wednesday's space about time preference, because I do think that people need to be reminded often that this is not the casino, even though and not to transition.
But I did see that a report that Dave Ramsey came out again and is doubling down or quadrupling down at this point on his stance against Bitcoin.
(49:51):
And I found it funny because it seemed like a friend of his was trolling him because he knows that Dave Ramsey is anti-Bitcoin.
And so it sounds like this friend of his bought $10,000 worth of Bitcoin and then told him about it.
And he had all kinds of very nasty things to say.
(50:16):
But it is funny now, though, that I think that people are starting to, you know, troll him a little bit.
And even those that are close to him that are not following his advice.
So I don't know.
I found that one funny.
(50:36):
Let's see.
What other ideas are people coming up with on anything that we've talked about this morning?
We have maybe about five minutes left in the show.
And Texas Toast, go ahead, sir.
Well, I told you, Bob, they have to be mocked in the submission.
They have to be made into a clown.
(50:58):
You know, and Peter Schiff, that guy on the Wolf of All Streets morning show, Monday macro morning show.
It's like they're all going to be wrong and I'm going to laugh at them.
We will troll them forever until they capitulate.
(51:19):
And if they don't, they can have fun staying poor.
All right.
yep as i've said that's one tactic um maybe i'm just too nice coming from the banking space i was
always you know steeped in customer service and so now i'm just like uh
i think it's funny actually when people uh say those things that you're saying but i also
(51:46):
then try to uh put myself in the shoes of of these people i do think that the people who are
outspoken deserve it a little bit more, right? Like Dave Ramsey, Warren Buffett calling Bitcoin
rat poison, and then eventually rat poison squared. I do think that the ones who have
(52:06):
just been either too lazy or intellectually dishonest probably need a little bit of that
mockery. But this is the game, right? It's a social experiment, and it takes all kinds.
And so we're happy to share both perspectives.
(52:27):
And yeah, I think it's fun, right?
Like we can laugh at other people.
We can laugh at ourselves.
But yeah, let's finish out the show.
Do you guys think this Tether announcement is a big deal or not?
Obviously, it's looking like the Bitcoin strategic reserve is not going to happen, at least this go round.
(52:53):
And so do you blame Bo Hines for leaving the White House and the crypto initiative and going and getting his payday at Tether?
And then also, do you guys think that Tether is smart and has, you know, as having this guy be part of their strategic advisory, does it give them an extra leg up as we see stable coins did pass with the Genius Act?
(53:25):
yeah i think it's just more of the status quo and i think people you know
don't really realize that all all or most of these people in the white house and in these
important positions you know they're all businessmen for the most part or in large part
(53:46):
and we're going to see more and more turnover like this back to the private sector
and uh in my mind i'm just seeing how it's it's going to be corporatized that everybody's going
to make their try to make some money off of it um but if you're looking from like stuff coming
from the state or like a state state run anything um i just don't think we're in that era we're in
(54:09):
we're in an era of decentralization and that includes um with businesses you know some they're
going to try to centralize it, not at the government level, but at the business level.
And we'll see if that works. I don't think it will in the long run. But to me, that's the path
we're on. And we're going to see a lot of these people, SACs included, probably turn over, you
(54:33):
know, by the time somewhere in the second half of the administration, you would think that we're
going to get a rollover and get some fresh blood in there. And these guys are going to go back to
their businesses and continue to rake in billions of dollars.
So I think it just kind of sets everything up for this banking-led stablecoin future.
(54:59):
I think Wyoming announced that they're running their state-issued and backed stablecoin now.
So that's kind of interesting.
but they're building out the banking and stable point infrastructure.
So we'll see.
(55:19):
Maybe I can trigger TC to get really pissed off about stable points.
He can come tell us off.
Yeah. Does anybody have any other thoughts?
And I do see TC down there.
I see Trey Sellers enjoy the, I said,
I was talking about Dave Ramsey earlier and,
(55:41):
his recent comments, but makes me think of Trey a little bit with his fire BTC.
Would love to have him up in, if not today, some other day to chat about this stuff.
But it is fun, guys.
I think there's a lot of things going on, and I do think the voices and the dissent
(56:04):
and the fear will continue as we go sideways here.
and there may be, like Coleman was saying, even a nice little dip, but I'm going to forewarn you
that that dip, if it occurs, that you should be thinking of it as a nice opportunity to buy that
(56:24):
dip and to stack additional sats. So just prepare yourself now. Like if it happens, awesome. If
you're still able to stack, you should be considering that. Really, it just comes down to
your positioning, your mind, what you're doing.
And if you've already over leveraged yourself, I'm sorry.
(56:46):
But these are the lessons people have to learn.
So, yeah, let's go around the horn, see if anybody else has anything else that they want
to add before we wrap up the show this morning.
Neil, go ahead.
No, I was just, it's actually nice just listening to a bunch of things that people are saying
(57:08):
stuff to chew on um yeah appreciate it ac coleman manimal
all right silence is bliss awesome uh but guys want to thank everybody for
(57:29):
showing up today everybody who listened in everybody who is up on the stage would love to
continue the conversation tomorrow, 10 a.m. Eastern. We're going to have special guest
Rod Rudy from Bitcoin Park. Would love if you guys would join us either to chime in and ask
questions or just listen in and hear more about Bitcoin Park, the Imagine If Summit,
(57:53):
and those things. By the way, speaking of summits, if you're interested in Bitcoin
Veterans Summit coming up November 10th and 11th, please visit bitcoinveterans.org
forward slash summit 2025.
And that's really guys all we have for today.
This was a fun taco Tuesday.
(58:14):
Thanks again for joining us.
We'll do it again tomorrow.
And remember, please, please, please do not shit coin.
It's like buying a Bitcoin treasury company and not holding any Bitcoin
yourself.
(58:35):
All people that use fiat currency as a store of value, we call them the core.
We call them the core.
(59:05):
Thank you.
Popular Podcasts
NFL Daily with Gregg Rosenthal
Gregg Rosenthal and a rotating crew of elite NFL Media co-hosts, including Patrick Claybon, Colleen Wolfe, Steve Wyche, Nick Shook and Jourdan Rodrigue of The Athletic get you caught up daily on all the NFL news and analysis you need to be smarter and funnier than your friends.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com