Bob Seeger dude Detroit zone
As a Detroit Bob Seeger fan man, he's those guys that has a sneaky amount of music. It's like
Classic classic songs at least for me. Maybe I'm again. I was the thing I'm showing my age. But anyway, what's up?
What are we at here? What is it February? I don't even know the date
Something going this weekend, but
Yeah, guys what's going on. I don't know if you guys caught it last week. We did I was able to get those chicken market guys to
Come in and it's a recorded space. So go back and check that out
Guy had, you know voice modifier on I
Didn't know I didn't know what the sense I got from him
I got the sense that they're here to build something and make some money. They're not some sort of old-school litecoiners or anything, but
That one on last week. I think it was Friday last week. So just check my feed
Actually, you know and I'll put it up top. I think I can do that
But yeah, I wanted to talk about this week
I'm kind of at a loss of what to do, you know, I feel like in the last I
Don't know three or four months
There's either bots or what I would just call like programmed humans
That have just been relentless when it comes to Twitter and I know this is just
right, and I feel like it's
Any of us give or correcting of the facts or any conversations we try to have with people
It doesn't matter right it doesn't seem to have any real impact and if anything like
It's almost it's just almost discouraging it's exhausting to try to have conversations with people that are having conversations
Yeah at the same time. It's like do you let people just kind of out now make shit up all the time
I don't know. I feel like one of those I
Feel like people who believed in a
Something the mainstream media was pushing or something right where you're like, there's just all this misinformation misinformation
But yeah, I don't know and my tactic has been like pushed back and try to correct the facts sometimes a little bit of mockery
I'm gonna give you an example like
Let me go. I had something in my bookmarks here. Hang on a second. There's something it wasn't even my conversation really to have
You know is kind of a what I would call a hater of a Bitcoin hater
And I might not agree with them all the time
So this guy well, you can look at the threat, but essentially he was making this point
Like an economy or grow wealth if all people are gonna do is just hold money, right? If there's no
In investment, there's not people taking that money and trying to
build businesses and make more efficient processes and all that stuff and
That you can't let me read it because it said
Yeah that if Bitcoin only consumes resources and is not a resource itself
Like isn't providing enough value to offset the resources it consumes
It's like this negative sum game, which I whether he's right or wrong. I don't know. I thought it's an interesting
Conversation to be had, you know, it's like it just gets as you can see Robert Breedlove
Like just plays it off as this ridiculously stupid thing and he tries they try to have a bit of a conversation
No, this dismissal in this
Instant appeal as if there's that there's some authority that we have to I
Don't justify our opinions to I think that's the thing that's like
I've been doing this for two and a half years as like coin underground and a little longer as my old account and it's like
I don't know why I'm doing it. I don't know if it's a
Allocation of my time or a waste of time basically, you know, I know Indigo used to come in and he would say well
You have to kind of correct the record right because maybe somebody's reading that
But I don't know about that. I don't know that that's gotten like coin anywhere
I don't think it's done anything to change people's opinions
I really think there's people that are I think some of these accounts if they're not truly bots
Conversations because these aren't they're not coming to you with original thoughts. They're coming to you by just regurgitating
Someone else's thought so they haven't arrived at this conclusion themselves
So they haven't actually formulated this opinion, right?
They haven't really thought through and critiqued their own ideas and they don't even really know the path by which they arrived at these conclusions
so when you try to challenge their thinking it's like
Was it what is that from there's no there there I forgot that's from it's not like a Bill Clinton thing or something
There's no there there. There's nothing. There's nothing there
There was they didn't actually formulate the thought so they don't even know what there's no conversation. It's pointless, right?
So I could talk into a wall
And like I was thinking about this today. Somebody has
Somebody will say something like oh hash rate is going up. So the price is gonna follow is like a Max Keiser thing
Price follows hash rate which makes no fucking sense at all
I could go into why it doesn't make any sense
But the point is you could say well that doesn't make sense. How does hash rate equal price and someone will say something like
well because it's proof that the
network is strong and people are allocating resources and capital and electricity towards the network and
It's the strength of the network and that's so that's what drives the price. Okay
Fair enough, and then you could say well look at Litecoin right like coins
Network has gotten stronger hash rate has gone up over the course of the last six years and the price has not gone up
so doesn't that kind of debunk your theory and
No, cuz Litecoin is not Bitcoin Litecoin is a shitcoin. It's like but that wasn't your original reasoning, right?
Your original reasoning was that
Allocation of capital and electricity and all this stuff, but it's like they can't they don't even see the difference, right?
I'm just venting here because I'm kind of at the point like I'm almost where I just want to
mute the word Bitcoin and just ignore everybody and
Maybe spend time spend some time of that, you know by myself and just relax
I'm exerting this energy and I'm not really sure to what end and I think a lot of us do it, right?
and I just maybe it's better just to be
just move forward ignore and just speak to the
The positives right and anybody who wants to be a hater you just ignore them
Because that seems to be the thing that works right people just
Don't know move forward because I because I think of like in sales
I've been in sales my whole life and I've never been somebody to like
Shit on some if I went into a sales call. No, we're buying from XYZ company. Okay. Well, they're I'm sure they're fine
Crap on them because that's a bad in my opinion. That's kind of reflects badly upon you, you know
It's so many lies being told I just don't even know where to begin
So I'm just a bit overwhelmed that the wave of how many people there are how many accounts are
Hope chief went up and then went back came up and went down
Your name I was for this. I was do it backwards your first name
We got a hopefully you can come up here. Maybe we're having an issue today
We'll get to your stuff in a minute here, but oh, come on you're not it's trying to connect you but I can't connect
By the way, and also if you guys know if you saw Charlie's interview with Kyle this week
That was pretty good it was kind of standard for the course
Stuff. Oh, the other thing that was big this week was M web mobile probably coming people are trying to come up and talk
But you guys I'm trying to connect you and it's not working. So
Maybe it's a problem with the space. Maybe leave and come back
Yeah, let me find that if anybody's got it and can share it to me or send it in a DM
M web mobile. I know low-stand. I think
Shared something about it. Let me find his
Tweet I tried to keep things in a
Folder of my bookmark thing so I can
Quickly send them out. So there was one where
Basic swap decks here. I'll put that up there. They did his spaces as well with the Litecoin foundation. Somebody came in here. Dr. Cap
He'd been in here a few weeks ago and you guys remember and he said
they're adding M web to that exchange and then here it sounds like
Also Hector who's been getting some funding from
This light space stuff is
Get some mobile transactions
Nobody else can talk apparently so late. It's saying you can speak. Oh, there you go opinion doge
You apparently can get through these other two can't
If you're on mobile guys, you might have a problem because I tried that this week and it didn't work
I was in a doge space and couldn't get through on mobile or on desktop. Sorry. All right opinion doge. What's up?
What's up, I'm on mobile actually so I'm not sure what's I mean the desktop is the problem. Oh
Yeah, I listened to your interview with Chikun market and fact that they were using a voice changer really threw me off at the beginning
Yeah, like I said, I got the sense like he said you kind of alluded
He said, you know, we saw this opportunity on Litecoin and they've been building in a space and I think they saw that there was
no marketplace for it and
Get something launched and
You know, they're off to the races. So so far so good. I mean I I've had an issue with I
Was trying to buy something. I
Don't know. The wallet connection is a little weird the light scribe
It's like I have to refresh it and I've had to clear the cash
Web site a couple times to kind of like get it to populate properly
You know, the nice thing is it's not like they control the wallet, right? So they can't just
they can't take your funds or anything because it's all inside light scribe wallet, but
He yeah, um, you know, he's not I don't think he's like some kind of like winner
I think he's here to make some money and hey, that's the whole point right? He should people should be like
Admittedly, I'm a ordinal hater
I don't like orinals that much so that might fit like a wonder reasons why I took that as a red flag
But yeah, it just seemed off to me
But that's my bias. That's my bias and also about your other point about
How people have these theories, but they don't really reflect always on
reality is is in my opinion
because most people have been sold narratives instead of
They haven't been taught to understand the principles. They've only been sold narratives and like I'm good guilty of that, too
I've been sold narratives too and like it's a common thing you see throughout the crypto space
Most of it is delusion most of crypto is delusion to be honest
Yeah, and there's I mean there's things in I think everybody's life that you would
You would be surprised to find out I think I haven't talked about this a couple weeks ago
You might be like surprised to find out it's not true or it's like very counterintuitive to something
Where you go? Wait a minute. I've been told X my whole life. How is that not true, right?
But it takes some time to first of all, you want to you have to want to learn that stuff
because that's the thing these things fit what they want to learn they want to believe that
You know, it's this one-of-a-kind and destructible thing and and it's gonna go up forever and it might I mean
Shit, it could right human emotions pretty crazy
But it's just funny to that. They would get invested in arguments without even understanding
like some basic concepts, right and
I think I probably did I've probably done similar things even in here, but even in my past I would do things like talking
politics or you know, I remember discussing socialized medicine a long time ago and
It's and sometimes you just don't know enough to know
that you're wrong or that like that you're you gloss over things in your mind that you think why would someone lie to me about this and
So it's like I don't want to fault them by the same time like the the passion they have is what makes you nuts
Like how can you be so wrong and so passionate at the same time?
Confirmation bias confirmation bias really yes. Oh good one today
It was Tony Robbins was doing an interview. It was just like a tick-tock with
Theo Vaughn, you know that comedian
And he said yeah, he said hey look at the guy Tony Robbins said look around the room
Look at everything is orange or a beige or something like that. And so he's looking around he goes
Okay, look back at me. He goes now. Tell me what in the room is red
And he's like, I don't know
So I told you to look for beige you found beige and you ignored all the red you didn't even notice the red
I want you to like do blue or whatever needed that and it was same thing like what he said yellow or whatever but
You know, that was an example of like when you're looking for something you're gonna see it, right?
And then it confirms your belief. It's like when you you get a new car, you know, you're oh you notice shit
Everybody drives a Jeep Cherokee, you know
If you have that you didn't notice it before but then all sudden you notice it because it stands out everywhere
Yeah, I know and that's so yeah, I get triggered by the
Then stuff it's like that drives me nuts, right? I read a post. Oh, this is fake
I gotta respond and I'm like what I don't know what I'm doing anymore
You know, what's up to you? Can you talk now?
Can you hear me now? Yeah, I think I just think you need to smoke some weed bro and relax
Go get a bond with sad frog. Don't get mad at me
You're echoing a little bit your first name
All right, buy a charger bro
Hello, we've been selling some frogs
All right, I won't you should have you knew oh
Dude if you knew you're coming into spaces, why wouldn't you charge your phone? That's just crazy. It's just silly. That's your response
Well, I don't know man, I think the I don't call it arguing
Like just the back and forth sometimes it's like you're having this bickering contest. It's like what the fuck dude who cares, right? Nobody cares. I
Sure don't I laugh at it sometimes cuz I mean like it gets annoying
'm good for like a few posts and then I'm like, all right, you guys are got more gusto than I do
I just don't have it and maybe I just don't have it anymore. I don't got the fire. You know what it is
Well, you have a life and a job well true. I actually haven't I told you guys I'm changing jobs
I have a new one coming up next week and but I've been busy good luck
Yeah, yeah, I'm feeling pretty good about it. I think it's a good one. I'm excited about it, but I
Yeah, it's just it's not even that dude, it's not even the I
Don't mind discussions. Like if they were interesting discussions, it would actually be like kind of
Invigorating, you know, I mean like oh, okay. This is like a real conversation here and this person brought something up. That's a
Interesting perspective. That's hard to get into those conversations on Twitter
but it gives you value but what's funny is like it's even hard to have those sometimes because
You can't even communicate that like you literally have to come out right out the gate and like put your guard down
Like look, I'm not trying to fight you
Because if you ask somebody a question the instant assumption is like this is challenging my beliefs, right?
Or that you're being challenged
Because someone couldn't get an innocent question. Well, how does that work? I don't understand, right? And
You don't know if they're like trying to set you up or like do they really not understand like do you
Invest this time in them and then
You know, it was just fucking waste of time, you know, I mean
No, yeah, that's why I told you I try I stopped communicating cuz it's just a waste of time if they're gonna not like like coin or
They're in their mind that they're right. They're never gonna you're never gonna change them
Right, which I think is where I kind of like, you know, your time is probably better spent like
Formulating your thoughts or your thesis around
Like coin, why do you like like coin, right? And just kind of communicating that in the positive as opposed to this like defensive thing
Yeah, cuz like the reactionary stuff it's just I
Don't know. I'm kind of over it. Oh, I got another couple people coming in. I
Was trying to get one of your apes, but they saw dog really fast. They came back. They came back
Yeah, but I didn't they didn't came back at the original price. No, no, you mean no, there's more up there right now
No, but there was one that was like, I think it was two point something and I was like, all right
Let me get it. But I couldn't get enough money and I'm I on my wallet. That's enough. There's some threes in there right now
There's threes right now. I see there was there was one at 2.5. I think
Threes that little ass I'll think about it. All right. All right. I'm pretty sure there's like Japan
I don't I think the Sweden one is the best one. I think I'm Bob. I'm probably miss mistaking the flag
With the blue and yellow. That's that's uh
No, not that not the Sweden one then the um, what's the white and red would have been like a red cross
Now when I think I like that one
I'm actually I almost didn't list it
I was like so my buddy actually I was talking to him about it and I saw the ones and I was like
Dude, these are cool. I don't even know when they got listed
I just was doing that chicken market interview and I was on there
And I was talking about it and he was like dude that Germany one is sweet. Buy me that
And I was like, I think I'm gonna buy a few of these just like fuck it, you know
but I don't actually don't think it's a good idea to have a lot of them cuz
You know, you're sure you want to build like you want to have multiple people haven't I mean I'm saying
Don't know the England one is that it's it's at 10 right now, right? Why I bought it I listed it
You should what I should what I think you should keep that one
Well, yeah, I think of France and England. I like how they look cool in Canada. I made a deal with
Animal that let him have Canada, which I got a sort out. I'm a trait little trade a little bartering
Yeah, we can do that later
I'm curious because that like, you know, I kind of phone would into some after I saw you change your PFP
but then I realized you know, this is a collection to exist on aetherium already and
I'm wondering if these are the same guys or just a copycat. It was minted really early on I know that I did look at
It was like back whenever moonbirds was yeah
They were minted before even sad frogs. Oh
Cryptions is in the 50,000 your your monkeys are in the 30,000. Yo, yo, let's go
So somebody had him I don't know who made him
You guys do you know who Kevin roses
He's this VC that used to be on tech TV on the show called the screen savers back in
anyways, I looked at the moonbirds and it looks like it's he's involved with it and I mean if you see the liquidity there
I think they've had already a
Trading volume of like over 800 like going which is you know, they're the top ones in chicken market right now
So that was that increased today, I think because I checked the other day and it was at 800 but yeah
I guess I'm sad. So I know this I bought some sad frogs
Yeah, yeah, I do like the naked the OG naked sad frog
Yeah, the logo is that number one that is number one and that will number
That is the logo I got to keep the rights got to keep the intellectual property intact
Yo, thanks for that airdrop by the way, you're welcome you're welcome I'm glad people are enjoying them
Are you gonna are you gonna list them on chicken market or is that process?
Here's some alpha. I was hoping they would be ready and up as
This space started so I could announce that but you know, I could just announce it now and say yeah
They're gonna be up there keep an eye out
I've got 21 that I will be listing and I'm going to list them for you know, pretty pretty cheap could just enough to
Get them out but not have people like buy them all at all at once because like you said I want many people to have them
So I'll probably list them for since I've got 20 point 21. I'll probably listen for point to one
But yeah every every sad frog holder
Got air dropped a sad frog or two sad frog PFPs
because I wanted people to have one that they will keep and
Have one that they could let go of should they feel fit
and then I also air dropped a few to the people who
Litecoin space dot org. I believe that's the the mempool port
So I gave people a day to drop
Their address in that and four people claim that
So so yeah, I'm having a lot of fun getting these these assets out to people in the community
Yeah, I just wanted to see your merch too. I thought that was I haven't even taken a look at it yet, dude
Yeah, the merchants the merch is cool. I'd like to get it like a little more
Because right now the the website I've I've I've just been tinkering with it and it's definitely not in its final form
but I've been so busy in real life that I'm actually amazed and surprised that I'm
Right, and these are cool though, dude, I like them
I'm looking at your I appreciate it. I appreciate it. You know, it's a good logo. I'm not gonna lie
It's got a certain arm to it I
And I like that. I I tried to keep it, you know, not
Crypto centric at all so that you know if people find the find the the logo and they like it
It could do well in stores, you know should like three years from now. We our communities popping off a
You know March becomes a thing. I want to be able to merchandise it to
the public even if they have no relationship to
Ideally, I'd like to get like profit sharing going on for like original asset holders
Um, and we're doing a trial thing with that with Audrey lights clip floral collection
We've got two people holding that and she's got a an art show
This Saturday in real life where she will be selling prints stickers magnets
Of these assets so that at the end of the day, we're gonna take a tally of all the sales and
anybody who's holding her assets of that will get a portion of
Of the of the sale so I want and that's gonna be trial run to see if we can make that happen with
Sad to the coldest as well
You turn into pudgy penguins, huh?
That girl Satoshi Sarah used to come in here, you know long time ago
You know, I didn't interview with her
I don't even know like a year ago and she was talking about sick
You know, I bought a couple like for whatever the fight didn't care about it
It's just like whatever thing and then these guys went out and they build a brand and like they got
They got him into Walmart and shit. Like everybody who was a holder had a portion of the proceeds
It's whatever I think something like that. Maybe not Walmart. Maybe some some other big retailer, but
So it was like almost like a yeah
Yeah, like a crowdsource brand essentially
Yes. Yes, and I love that crypto allows that to even be possible
You'd be your bank you can run your own business and you can share
the benefits of everything
And obviously we're so early that I just tinker around and figure it out and glad to this community and supporting me and
To be interested in it. Yeah. No, that's cool. Well, you know, and like actually that Bruce Fenton
I don't know if you guys I'm sure you guys know who he is
He actually mentioned like coin an interview, which I thought was interesting, but he was talking about
Putting assets like, you know equity for stock and a company on blockchains or making them tradable
24-7 all around the world, right so that he's like somebody, you know, if there's a building that goes for sale and
there's a public listing that
There should be able to be shareholders in that building
She'll sell stock in a building if you need to raise capital for repairs or something like that
You know, why shouldn't there be able to be investors anywhere anytime they can buy and sell shares in that asset
Everywhere like that's how markets work, right? And
It was funny because he mentioned and he goes like he mentioned, you know, you can send value right now
Anywhere in the world with Litecoin at the touch of a button, you know
why isn't that possible with with equity it was just funny he used Litecoin because
it's you know, obviously it's more obscure than Bitcoin so you would assume he would just stick to the basics, but
Yeah, I'll go ahead the Rand. Hey the Rand. Do you love the space? I
Love this space. Yeah. Okay, so suppression
They suppressed Litecoin and it's the best thing ever. So when the government suppresses it and
Like when it's over the same. I want to be in whatever they suppress because they fear it and
That's why you don't they suppress Litecoin and
They they want to move to Bitcoin and yeah, give yours your fees. It's just yeah if the government suppresses it
That's where I want to be
And yeah, I'm glad they don't suppress whiskey because then
I got a rich man. I get it. Oh my gosh
In what way do you mean that I guess
ETF suppress that's control but like when it's going to go at four to one it's going to and
Just like silver is gonna go like 15 to one it whatever the government suppresses
That's what you want to be in
Who here doesn't think like when it's suppressed. I
Mean you're not you know what here. I'm gonna give you a crazy calculation. I did this week
This is a threat. I did this week and I almost forgot about it. Hang on a second
I'm gonna have you come up Schultzy, but hold on
amount of units on each blockchain, right
Because I've always said this I've always said the smallest unit on a Bitcoin is a
Transaction fee plus one Satoshi, right? Like you can't if you can't send it
Then it's not really it's not real in my opinion
and so I kind of threw this number up there saying if
You think about it. No one would really want to send Bitcoin even if they had to spend like 20% in transaction fees
So let me find this thread
You guys can pick it apart. But essentially the math came out
Surprisingly close to the ratio that because the fees on Litecoin are low
It's actually more abundant
Than Bitcoin like Bitcoin is actually
Only here. Let me let me share this. I should have copied or bookmarked this
Hang on a second, please hold
It should be up there right now
But essentially here I'll read it
So on chain the smallest unit of Bitcoin is not a Satoshi is the cost of a transaction fee plus one Satoshi
Realistically, it's probably a transaction transaction fee times 20 or so
Because no one wants to spend more than 5% on a transaction fee. This is making any sense
So if again, if your fee is 50 cents
People really want to spend more than
Ten dollars to pay that 50 cents, right? Like you start getting down lower than that. It's like you're it's a lot
The smallest fee I could find currently is three thousand two hundred forty six Satoshi's if you multiply that by 20
You get sixty almost sixty five thousand Satoshi's
So if you look at it that way there are not two point one quadrillion Satoshi's
It's more like thirty two and a half million
Meaning you can only like spend if you took the smallest amount you could spend reasonably
You can only spend Bitcoin thirty two and a half million times
Before you'd have gone through the entire supply
Does everybody making this makes sense to anybody
And so what you're saying is that
UTX those with with not enough balance are not
Units, is that what you're saying? Well, yeah, if a wallet has ten Satoshi's in it. It's not it's unusable
It's literally it's dead. It's a paperweight
Like you what you could do at that point is, you know
Have paper wallets and be like here's this ten sets for you, man
So do you so here's the point that we both use it to go buy it and take it into possession
You have to buy at least I mean real realistically
If the fee is ten dollars
You're not no one's gonna go buy eleven dollars and pay the ten dollars to send it to a cold storage wallet, right?
And lose ninety percent of their investment
For the most part people won't move that money until that fee is more like, you know, two to five percent
So if you take the top end of that I
Go I buy a hundred bucks and it's five dollars to send it to cold storage. Okay, I send it and pay the five bucks
That's the minimum unit of measure is what I'm talking about, right
It'd be like going to the store and have an ask him. Can you sell me?
Half a milliliter of water. They'd be like, no, we don't sell half milliliters
That's not that's not economical to do that. So we only sell you half liters as smallest, right?
So it's the same concept the smallest unit of measure is a transaction fee and I'm again
I'm kind of using this I'm making up the times 20 because I just think that's logical
So if you do the same thing on litecoin
The smallest fee on litecoin is four hundred and twenty six lits or sats whatever that times five five is only twenty one hundred
So that would mean that there are three point nine four billion
Transactions available or three point nine billion units of measure available on litecoin and again only thirty two and a half million
On Bitcoin which that ratio is a hundred and twenty one to one
So in true availability of units of measure it's active written this the ratio
It's having like zero zero eight, which is pretty dang close to where we've kind of been settling in it, right? I
Mean we're lower than that right now. We've been higher than that, but I would say over time
we've kind of vacillated around that number and
And I wrote this when fees were actually pretty low last week
so if fees go up higher, I
Think what is it what I'm saying is it in?
Order for somebody to actually acquire it. They have to acquire larger chunks
They can only like buying bars of gold as opposed to quarter ounces
What about that not maybe suppression that's maybe a mathematical reason why?
We see what we see and then only through our fees going up
Because the blockchains being congested will require people to acquire more coins. What about that?
Or maybe it's just part of the growth of the network is
Programmatic suppression. Yes, I think that it was built in the big if to built this way in the beginning
And I think that it was done so with intention. I
Believe this is what I truly believe is that whoever built it
Knew that there would be people trying to hoard it because of the potential that it could do and this
Totally fixes that does it not?
No, the fact that you know, there's only so like the math is complicated enough that people don't
realize what they're getting into it until they're over exposed to it and then
If you're overexposed to it, you're gonna get wrecked because the way the timeline goes the math works out exactly how you're saying
But where if you're ordering ordering it it's no longer usable by the average person
And so the demand will only go down and when the man goes down
What happens to the price the dragons lose?
Well only the lard only the large players can play like I could I said this to this week
I had my buddy had some coins. He had been DCA over the course of like five or six years and
It was like a third of a Bitcoin, you know dinking and dunking hundred bucks hundred bucks hundred bucks and
His fee was like fifty five dollars and then
This weekend that things shot up. They 10x the fees to one up 10x
And I was like dude had he sent this over the weekend. It'd been five hundred dollars to send this money
Right like that's fucking insane
It's so insane it's just it's not even it's just not real that people find themselves in that scenario and when
People go. Oh, that's not real. That's not true. I mean I fucking watched it
I could show you the transaction on chain because I sent it. I
Think you found an opportunity for yourself this week
You post at some point that the fees this weekend would be like one one one Satoshi per bite or something, right?
Maybe something like that. Yeah, right and you were you're just predicting right and I think there there is gonna be a market for
Like weathermen of fees on this network
It's like if you got a UT XOs get your wallets ready this weekend to consolidate them hmm
Because yeah, I do believe that in the early days the fees were appropriate
Adoption occurred now. We're like this week. We hit a
Period where the fees were like upwards at twenty five thirty dollars u.s
And I don't know if that's that was what Satoshi's vision
Would have translated to today. I think had he had he stuck around if you were still here today
He would have probably put his foot down and been like, okay. We need to do something about that. I
Feel L2s have their place but at the same time lightning doesn't work super well in a high-fee market
Managing channels is expensive and I few market to well we had we had since this week
I think I don't know where I was last night. We started to see some full blocks on the Bitcoin
And I started thinking about that like it
You know, we've got this luxury like luxury of just using it whenever you want fees are inconsequential
And when is that tipping point for Litecoin? Like when do you go? Okay
Maybe there needs to be some growth here
11 years well, it's gonna be soon because
Because you're gonna have
Inscriptions and ordinals on like when are you not because I know the Dogecoin guys are already crying about it. Yeah
Yeah, yeah, look at look at my PFP. I'm so sorry
Dogecoin mempool right right now. I mean, yeah
It's like 50 megabytes like that. No, I mean, yeah like a Bitcoin, right? I mean what's the megabytes?
The mempool size I think was
It's again right now, but it's the pre it seems pretty large than before but not not on hand global
So far well, they clear one. There's a minute, right?
Transactions are stacking up and I can't wait till that comes to your chain and you're like, oh, yeah fees are cheap
These are cheap. Yeah, but we can't send any
Transactions. No, we got a long way to go, bro
Well, it's cuz people you know, he doesn't like these inscriptions and so he's seen as like
The price of your coin is so high that's that multiplies the problem, you know I'm saying and you only have one block every 10
Minutes where we have four so we actually clear the mempool a lot faster
Cue the Digi byte. Yeah. No, I mean it, you know, M web is gonna take thankfully a lot of pressure
I do think the whole M web thing
Litecoin a better ordinal chain than anything else than the other ones
Fungibility because I don't like the fact that my assets are all a tied to my wallet
And I don't know it's for sure cuz it hasn't been tested. But when the mempool does fill up on Litecoin
I believe M web will still be able to process transactions successfully. They have more so than read. There's a block every
Whatever every so often every block right right so you have almost guaranteed block space
Unless you're inscribing on M web. Is that possible? Has anyone done that yet made an M web inscription?
I don't know. I know you can send them in the M web and they will come out because it's tied to the Satoshi
They'll come out somewhere though, they won't come out in that in the right place
Well, I mean so was a Kyle from the 84 million podcast did it once on
on the show and he sent an inscription to his M web address and
Then pulled it out and it was still there now could that be that was just it was on the top of the pile of the
Address and like that's how it works. It's like first in first out
Yeah, the offset would have to be there
because if M web is just a coin join, right and
It's just mixing them all up and it doesn't sound plausible
to be able to anticipate where an
Inscription is going unless it's offset is zero, right? I meant last in first out
Right, like there's a stack of
Coins and when you put one on the top of it when someone withdraws from from M web or pegs out
They'll get the one that you just put in. I
Don't know. Right? Right. Yeah, we're on the same page without with the awesome. Hey your first name that be you could like
Throw in a bunch of inscriptions into M web and then people who knows who will get them. I
Agree with that. I would have to have the means to make like a 10,000 collection to encourage use of them just because
Yeah, we could do that. If you that's actually beautiful. We could do a spider collection
Just for the record. I want to say some some goofy M web spiders
I just want to say that I think that those coin network will be fine. The mempool is a lot higher
Earlier to yesterday, I think but it's gone down a bit
I think we'll stabilize up the feet to get high for a little bit earlier. So maybe that could happen to like Queen
Here's the thing. You gotta recognize that I think is what I was in the space this morning and they're laughing and they're like
Wait till we really put it on them, you know, and it's that space
I was talking about whenever you guys are when you were doing this space last week grant those same guys
I was in there again and and they're all bragging like
Dude, we're gonna break like coin and some of those coin. They're like, we're gonna break those coin and they can't
But sure they can Wow. No, they can't
completely usable because it's so cheap to attack I
Think it's a good thing to try to break these chains. Well, you fucking break them sooner than later
just like what you're made of and and honestly, and that's why it's it's
There's gonna be a lot of people get a reality check
Yeah, and you know what I find interesting is is I was actually having a debate with my digi-biter
and I was like listen like you guys should do ordinals and they're like
Absolutely not. I'm like, why not? Then it's all it makes sense now. Yeah
What's cool is that we still have
Like a leadership, right?
So if it does become a problem and it does break the chain as you say
Can we just program it out like disable it it'd be almost the fees
you'd have to fork it because people would
The you'd have to come to a consensus and once things are already put out
Undoing a consensus is damn near impossible. Oh sure
But if the foundation says like look we need this to save the chain
Do you think the miners will disagree?
Mmm, I don't know what they're making. See that's where we're that's where we're drawing the line of centralization decentralization
But here's the other thing she'll see you understand they'd have to spend four times as much money to do it to Litecoin
As it would take to do it to Bitcoin
They wouldn't even be able to attack em web so we could all still use em web without it
There'd be how it gets pretty expensive to do it on Bitcoin very why would they not be able to attack em web?
Well because they can't inscribe it would still be more expensive to transact on em web
Because you still have that block and this is something that I still need some clarification from David how those fees are
Calculated because you can transact inside em web and your your transaction never touches the main chain
You're just part of like a collective transaction
So that block comes over and just what happens is every two and a half minutes that block checks in and
essentially validates the balances of
What's in em web with the main chain?
Like we're supposed to have 180 coins in em web or whatever fifth. There's like 15,000
That's what we have there's like some sort of verify isn't it a hundred and fifty thousand or am I bugging bugging you're bugging
Unless it's gone up in the last couple weeks
Shows you like yeah your your coin is way more expensive so your fees go up faster in dollar terms
So in order to make make Litecoin fees go up like that you would have to have
Like when you're at five hundred
I mean you understand this
It would we would still be one whatever
one four hundredth of the price
So you'd have to drive our fees up to like fifty thousand with toshi's per v-byte, and you'd have to keep it there
For time at four times the pace
So it'd be like a half a Litecoin and fees
All for two and a half minutes two and a half minutes two and a half minutes
Like it'd be very difficult for us to see those fee levels, which is fine, and if it did it did
Like that's good for the miners. I think you know I
Don't think they have that
Is it is it is good for the miners
I mean you've got that to look forward to it if ever if it ever happens
You know Shane there's demand your chain does become unusable, but the miners do get fees
So there is that it people on Bitcoin are making money doing it or else they wouldn't be doing it
I don't think they're doing it just to lose money. I don't believe that right now
So they can I ask you a question what what do you exactly mean by unusable?
Because the only thing I've seen is fees going up and then some problems that we've heard about a few exchanges, but nothing
Not a lot, so what does unusable mean for you?
Well so I mean it just gets
so many so many transactions in the mempool that
you know it just takes a long time and
You know people are like well
It's broken. You know I mean they've said about Bitcoin before of course you everybody piles
I think she'll see wrote. Yeah, you cut out a bit. She'll see try again. I
Can try all right ran you've had your hand up. I'm sorry go ahead. That's fine. Okay?
Everybody here has been a casino right and you go to the high roller room
so the high roller room has Bitcoin fees and
The Bitcoin fees that we talk about that's just proof of you got it
And so don't complain about Bitcoin fees if you can't play in the high roller room if you don't like it
Let's go like coin and that is the best thing because you don't even get charged barely
But you want to do Bitcoin fine go to the high roller room pay the fees and don't complain
That's a red note if you have Bitcoin don't complain about the fees do yourself. You got it. I
Otherwise don't complain just do like when it's cheaper
This is that instances where I'm like when do people go wait a minute
Why the fuck did why were you telling me to DC a the last five years if this is the pickle?
I'm fucking in now, right now. I'm fucked. Thanks a lot asshole
I mean if you if you do say on coinbase, you don't have to worry about your stuff, right?
Yeah, no, I think most people do it that way
50 bucks. I was like shit dude. That's a lot
You know for what I say it was like me. It's like ten thousand bucks
So $50 not that much but had it been 500 that would have been painful as hell
And he put so funny is he put it on there. There was like a long block
So he started moving back in the you know back in line a little bit and he's like, well, how long is it gonna take?
I'm like, I don't know dude
It could be if these if all the sudden fees go up or somebody starts inscribing something this could take like weeks
You could just be waiting for weeks
Until this gets to your account, you know
And he's like, well, how do I do the whole?
Parent child thing or whatever. I'm like, I don't know
Use Bitcoin all the time and I don't have any problems
I've never had a transaction go stale, but I heard that it does go stale after a day or two
Can you speak to that Chelsea?
No, it should stay in there like I
Think I think grant you didn't you post something about you reposted some but something about
somebody's transaction being in there for like two or three four days or something that didn't go through and then it finally went through and
Don't know you made a comment about
The fact that it didn't go through for like two or three days was it you
No, I made the one recently like I said about it was 50 bucks and had it had he tried to send it on Saturday
It would have been like five. Oh, no, I know who it was. It was it was
Commented that that guy did that all the way. Yeah
You know like he obviously put in a very low fee just to see if he could get one to go through and indeed
Fees did get low enough that it did finally go through but you know
Everybody wants to make it out like, you know, like the transactions take forever. It's like well
Why don't you just look at the mempool before you send it and
Make sure you're paying enough to get it in the first ten minute block and you're fine
That's not true because that's exactly what I did with my buddy
You're fucking smoking crack. If you think it's not true. I use Bitcoin all
That's not nice 46 Satoshi's per v-byte
I sent it and then like there was like a long block, you know, and it happened happens on litecoin too
We're for some reason it was like a 25 or 30 minute block and in that time
The fees went up like people wanted they kept increasing the fee. So he got bumped back to the next block and
Then there was a block and then there was another long box
So he was like three or four blocks back and I'm like and that's what he's asking me like
Well, when's this gonna go through? I'm like, I don't I mean, I said, you know
There could be like a collection comes in an inscription
You're trying to sell your bag
Tell him that's okay. No, I think what you can do
If you want to consolidate
But then two days later had had he done that like two days later
He would have been screwed for like a week and now it would be fine. It's down to like 20 or whatever
But I'm saying like it can take four or five days
Even if you just listen to your software hit fastest transaction, it could still take five days
You don't know you don't know how the blockchain is gonna behave
Well, I just I just googled it and this post on chorus says that transactions get dropped after 48 hours if they have been processed
So I'm thinking if you do want to consolidate your UT XOs
feel free to like just you know, put the the load the minimum fee and
You know if you're patient if you don't if you're on a rush just wait for it
And if it gets rejected if it gets dropped try again, you know when you can but
Yeah, I mean this whole fee thing it's it's gonna become more of an issue going forward
And eventually minimum fees that they're just not gonna work. They're always gonna get dropped
And they'll have to be adjusted to you know with the recommended fees and even then
It becomes an issue when when people are trying to read like rebalance their lightning channels and
Suddenly that costs been arm and a leg, right?
And people aren't able to try to transact because their lighting channels been exhausted
I mean that could happen to Bitcoin and like one well
We figured out how to do that without having to do on-chain transactions
The last time the fees were up a lot
Which why I think I remember was in May and we were just using liquid to transfer
so a different layer to and
We were rebalancing channels just using the lightning network. So you never had to touch an untrained on-chain transaction, right?
So I don't forget we have to layer two networks. How's that work?
Buy some Bitcoin on the liquid network and send it to me that way
And then I just shoot you some some sats over the lightning channel that you need rebalanced and suddenly you're back in business
If I might interject like the point I was trying to ask is
Just because fees have gone up a bit even when fees were high of and those claims was still a fraction of a penny
Does that is that I don't think that means
Unusable, I just feel like it's only the fees have gone up a bit. It's not not usable yet at least
Yeah, well if you haven't gamed it out yet
You'll figure it out pretty soon. I mean ultzy. I'm trying to explain. I'm trying to say it's the same problem
You know you were accepting you're accepting light
You're accepting liquid in exchange for lightning satoshis like you you were just doing like an in-kind trade
But you weren't actually receiving
You're not getting Bitcoin for Bitcoin. You're accepting liquid as a substitute
Well, it's it's still the same thing right because you've got a Bitcoin as the backing contract
I mean kind of you are relying on some people sure
Well certainly liquid is centralized unlike lightning which is very decentralized
Well, so liquid is run by a corporation called block stream, and it is definitely centralized
But so is like coin at this point or lightning right at this point
How well I don't know have you ever you know why would you think that though?
It requires liquidity and liquidity centralize open network. It's why banks. It's open source
I get it open network anyone can use it so all right in practice in practice
How much of the lightning network is under custodial?
Don't give me theory give me real world how much is under custodians as?
a percentage of the network
It's not usable in decentralized manner, and you know it so don't act like it's not we understand how liquidity works
Now you probably yeah, you're still there understand how it works
Don't don't misinform and this is what makes me nuts. I don't I don't think of you as a bot
You're a guy who's a thinker. I know you think about this stuff, so why lie?
He went down. I did not boot him. Maybe we've had audio issues
That's the part that makes me nuts. I don't know if he's I
Don't get the sense. He's trying to like
But we all know lightning network doesn't work
In the way that it was sold to us it works as it works as a bank. I think it's a bank
So generally if you're using it be aware. You're probably going to be under the control of
Somebody who could censor you somebody who could pause a transaction or make sure you KYC or AML
Rachel see like 90% would you say of the amount of dollars on the lightning network are under some sort of custodian?
90% no, I would say it's definitely more like
50 to 60 probably is that number going up or going down I
But I you know it's peer-to-peer like you could have a lightning node, and I could have a lightning node, and we could send
Bitcoin back and forth all day for free in under one second for transaction
But how but that doesn't in what world does that happen like I have friends I have the best
And I'll sit up to my friends, but I use it we have great friends. I don't send money in backward forth to them all day
Well, I I do I travel a lot with these guys right so okay. Let's say you I probably went to six conferences last year
And I also go to other events not really conferences, but small events, so yeah
I use it a lot, so what is the least amount you'll put and what wallet do you generally use?
The least amount of because you're opening a chance open a channel person right
Know I I'd rather open two million two million satoshis per channel is like kind of that the sweet spot
All right, so what is that is that a point zero two right so?
Eight hundred bucks mm-hmm for each person you open a channel with
Yeah, if I'm gonna use it especially I mean we like to arrange it
so it's like more of like it like an octagonal shape and then
Like if I'm if I'm in a big
Circle with a lot of other people who are having the same channel sizes, and then
they have liquidity coming into their nodes, and I have liquidity coming into my nodes and basically
like we can route around and
We've got access to a lot of liquidity just because you've got a you got a big ring, right?
It's just like the internet. It's the way the same thing works you like if you want to build like like a fiber ring
Right around your state whatever state you live in so you'll you'll do like a fiber ring around your state
And then you'll have like various places where the internet is coming in and out of that ring
So that if something happens and somebody's node goes down you just route it route around the other way
And it's got plenty of ways to get in and out so that's how we build it
So how many channels do you have set up with different people?
Probably right right or usually right around six or eight
All right, so you spent like four or five thousand bucks just setting up channels
So how does it so let's say?
Let me think about this way to ask this
over time you're you're sending money back and forth and someone's wants to close it right so then
You just bet whatever the final settled state is they get theirs you get you get yours and
That channels gone right correct. You can't route that anymore. Is it I mean what is isn't in web like
And what okay, I'm not and what I don't walk and webs a
It's a so a block comes in every basically every
Litecoin block there is a hog X transaction which stands for the Hogwarts Express for your
Sticking with the Harry Potter theme, right?
Let's see if I remember this. I see because it's minimal wimble is a Harry Potter spell
Creator who may have been Satoshi. We don't know and
You send money to this to M web. It's gonna go into the hog X which then takes those coins and moves them over to the M web
So inside the M web block the big difference is you don't have the liquidity issues you guys are having right? So in the M web block
You can transact with other M web addresses
Kind of as much as you want
coin amounts or the addresses and
Then when you decide I want to pull it back and move back on to main chain
You withdraw it and it moves into it's got another name
There's another transaction that happens at the beginning of each block where the coins come back from Hogwarts. We'll call it, right? And
They go back in your wallet, but there's no channel management. There's no, you know, one of the things it's a big
Misrepresentation of M web is that in the original member wimble protocol?
There was like you had to have these both people had to be online had to be a coordinated
Like the sender and receiver both had to be online at the same time. That's not that's not how M web works. It works
Using your normal wallet. You wouldn't even know the difference. The addresses are just different
And so you can be private and I cannot be or vice versa or we can both be private or we can both be not private
So it's kind of this like whatever each of us wants to operate in
So if I'm in channel with you what visibility do I have of the channel?
If you have a channel set up between you and me
Well, you haven't been able to monitor your coins in that channel
Like I you can't you those coins can't leave without my you can't see anything on my node
But you can see like the liquidity on that channel and no one can leave you're not allowed to leave without my permission
Do you can buy force close it or something, right?
Correct. Somebody dies or something
Correct. Somebody dies or something
Correct. Okay. Does that cause any potential issues?
No, actually it's set up in your favor if I force close then I pay all the fees you get yours for free
So like what's let's say the final state is, you know, I
80 20 so like you put in a Bitcoin and there's now 0.8 on your end and 0.2 on my end
What happens to that point too if nobody's controlling that other wallet does that matter to you it doesn't
Nothing, it just goes back to the is there like a coded
wallet like UTXO that's attached to that lightning channel that
It knows where to send those coins
Correct. Yeah, it's a part of the conference. It's like a smart contract almost. It's a multi-sig wallet. Okay
Yeah, I haven't used it. I haven't used it in self-custody at all. So I've not run a node
I just know the economics of it and I know that it's gonna become banks, which is what's becoming which is why
light spark is creating one which is why
Micro strategy claims he's gonna be a Bitcoin developer, but he's just gonna develop a bank
Mark my words, she'll see
He's gonna ask you to make deposits he might even pay you interest on your coins and
Have you use him as a bank?
So he'll KYC you and make sure you follow all regulatory things and you'll never actually use Bitcoin
These people will not actually use Bitcoin
Because Bitcoin is not the asset, you know, it's the network
It's not if it's not permitting if it's not censorship resistant
It's one-to-one if it's one-to-one and locked up in a Bitcoin wallet on a node
Then it's it's not it's not censorship resistant
It's not well, it's permissioned
You know, then if you want to do something legally, you probably shouldn't be using cryptocurrency
Well, oh and he attacks he attacks back
I'm just saying no, I certainly what I'm doing. I'm with you on this. I'll say that Emily in Palestine
I am with you on this, right?
I would use on-chain Bitcoin all day long if I was gonna like be sending if I was gonna have like the
Potential for being censored and I've never put that much money on lightning. Anyway, well as you put five man
That's that's a decent amount
That's fine. Well, I mean whether to me it'd be a lot to a lot of people
Maybe a lot to like seven point nine billion people
You know, you got to remember I've been mining Bitcoin since 2013. Well, I know it's good for you
But that's not a mass adoptable technology
Hang out with six of their friends
I love to hear your conversations about how Bitcoin is not gonna work and how you're gonna have to pay
Was Greg Fogg in the law when he sent money to the truckers was he a bad guy cuz he was breaking the law
He was doing something illegal, right?
Yeah, according to Canada. He was so Michael Saylor would not let him do that
Nor would light spark nor would Jack maulers, but no one could tell him not to if he was using it on chain. I
You're boom he just a little back this is frustrating because I
I'm just curious about the amount of people in Bitcoin right now that have gotten at near all-time high
right, and now it's back down and they're trying to get their bags, right and
My theory is that there's a lot trying to make money. I'm not I'm not talking about you. I'm sorry if the shoe fits
Any chaltsies here for the long haul?
Right, and I agree with that
But I also know that if you're here for the long haul you were here throughout the whole thing and I know there's there's big
portions of people that are just waiting for the next all-time high and
they have to push this narrative so that they can get out and
I know it because there it's that cognitive dissonance and their bags are already already down and it's it sucks because now I
I've seen it hundreds of times in hundreds of spaces where it's it's VC
People that are are they have a reason to be like talking like this like talking like they're blind. Why?
there they jump through hoops and he's talking about a like a lightning network circle jerk with his buddies and
like that's useful and not
sensitive resistant like it's not
centralized like it's not a custodian holding a network channel and
In allowing you to use their channel so that you can have a better time on your network because it's cheaper
Just go to a better network
Do you know how scarce Bitcoin is I just told you
Frustrated because it's gonna circle back watch watch how scarce is Bitcoin. I'll entertain it. Let's go
Well, at least three and a half million are gone, right? Yeah forever lost
Between the ETFs, I think they probably own another what 2%
You probably got hold on. I don't wait. Wait. Wait. Wait. Wait. That's not scarce. That's available coins. It doesn't mean they're gone
They're not burned. No, they're locked up. No, they're locked up in that
Matter. Why does it it settles every day if people sell the coins?
If it doesn't work, right
I don't know what to tell you. I mean it works fine for me. I
Then then use it don't convince us to use it. You sound like a Mormon
Right, but I hear you guys saying that it doesn't work and it takes too long
I mean we're saying that that was just saying it is true. It was just a story
I'm telling you the truth right before I requested them. I believe I'm making you think I'm making that up. I
Think you make a lot of stuff up to make it sound like
You know, okay, then why are you here?
How is this dude still in this space if he believes that you make everything up this is mad crazy, bro
I'm telling you. Okay, so most of you guys probably haven't used Bitcoin and you probably haven't used like going
And you probably have no idea actually how scarce you don't use Bitcoin use the lightning network
Nor do you know how much money you could make by mining Bitcoin, which I've made that point
I've mined Bitcoin of my I was 16
But I'm just saying like a lot of people that are in this place probably have not yeah, you're right
Cuz I know cuz you're better than everybody. Can I can I man?
so like players or is our big in mind gold because
Before they had sunk cost now we have
billions of dollars in sunk cost and the psychology reflects that and
And now I'm talking about you. You are that psychology
Old season og you can just I don't know why you're here if you think I'm
Like an og but I mean if you're thinking if you think I'm making shit up then why are you here?
Well, you keep saying like if there was only like so many transactions then that's that's all the Bitcoin that there will ever be
I was using an example to show you that Bitcoin is more scarce than the 21 million
I was trying to actually what that's that's why there's this price difference because it's
Why don't you start my like coin or don't I was I was relating it to like coin if you read the thread
You don't understand what I'm talking about. You know, I'm saying you were just saying that
When I came in this guy's really good, how we doing? Y'all what's what's good with uh, what's good with?
You see chief you see chief you said your first name just sits here and
Smokes bowls and he's chill. He's getting fired up. Listen to him
Speaks off carry a big stick. That was oh, dude, you want to hear something funny? I guess the story about
I got a story about that quote
My buddy that boy that was Theodore Roosevelt. He said that
Speaks off and carry a pig a big stick and I was at my but he was getting married and I had a friend
Who's given the best man speech and I say he got to start with a quote
Right, like speeches are supposed to be a quote and I don't know why this popped in my head and fucking we laughed
So hard at this we said you should get there and say speak softly and carry a pig's dick
And it sounds like a big stick
He got up there and said that shit. No one knew what he was saying
But if you ever get a big speech say speak softly and carry a pig's dick
Dude, were you were you in that space that dough dough space?
It was like Saturday night. Am I in Friday night? Oh
Dude that yeah, that felt like a fever dream did Dina or something like that
Yeah, I was mad confused and I was rolling with the punches man
I was all fucked up and she made me co-hosts. Yeah
I was not I wasn't doing a rapping but people were the dogecoin
CTO came in and he was like freestyle. He had like fucking like he had pre-written things. It was so bizarre, dude
I love I love this life. It's so wild. The world is so small. He is so big. I
Feel like sometimes I'm like dude. I can't be at that entertaining
Like I like being a guest sometimes, you know
And those are not reported but
You're the finest host ever
Yeah, mr. Yeah, I might disappoint you. I think I'm about to take a couple months off actually I
I dare you. Well, I got a certain new job
I got like a family vacation coming up and I'm like, you know, I might just need a fucking break
But what you do is partner with that that the cocoon radio guy
See if he can set up where you literally just have your PFP up for us homeboys to come through
Well, he's not doing that anymore is he I
Yeah, I don't I don't think so and I miss it because I would listen to that at work
I mean sometimes I'd be just like, you know splicing electrical boxes and so I'd be like hello and I'd be like
What why don't you launch space? I don't know why don't so complicated just people just need to turn on the microphone, you know
Are you my microphone and you have control but you're here every week at nine. So like what difference is make just be the host
Feel like it I like I said, I got starting your job. I'm gonna be out of town
I got a family trip coming up and I'm like, you know, they always need to look like
You do you get it done eight weeks coming back like the halving the big point halving
Hell yeah, get yourself comfortable get yourself in the groove find your mojo
Yeah, maybe baglamas. Do you want to be a host for seven weeks eight weeks baglamas?
Lycoin go and do your thing and relax. Don't put anything on baglamas
He would just be like this you big this
That'd be the entire space that'd be bakla
Yeah, I feel like you know we need to
No, that's bakla. No, I'm not saying that he would sound bad. That's his that's what he does every time he comes up
No, he doesn't talk anymore. Oh does the toilet he thinks we're he's convinced. Everything's going in the toilet for the next
I don't even know how long
Why do my audience people just sit and smoke weed? That's what I want
Let's go it's interesting that it is a lot of pot smokers in the altcoin spaces
You should you guys should do some some weed in the Bitcoin spaces to budget
Fuck you you stupid piece of shit
Well, it's true, I'm just saying the truth here
Yeah, right and there's more truth is that we do and used to I mean if if you don't stand for something you fall
failures on the weed smoking like coin
Freaking hash. Hey, let's talk about this speaking of weed. Yeah, I quit smoking weed
Shut for me. What was the reason? Why? Yes, why?
It's productivity and general well-being I guess I would say I'd agree with that
I have been I've gone through stages where I have but for the most part I'm kind of like
If you got shit to do it ain't getting you anywhere
What alcohol is way different in my opinion, yes way different
Wait, well, I'm talking about real quick. What about I'm sure you're happy about it. This XMR D listing, right?
Do you think we're gonna start to see more and more? Well, cuz I don't know
You know the XMR crowds like
Bring it out. Bring it on and you know, I get it at the same time
It just makes adoption hard to listen the listen is gonna be a hard on the price for a while
It's hard for adoption, you know for people to find it
It doesn't matter that much I believe because they have the X's and the wallets and you can you can find Monero
It's not it's not that that difficult right? The thing is that
It's gonna help Monero fucking develop something
It might even help them with real price discovery. Yeah. Yeah. Yeah. Yeah, like Binance. Did you listed it on spot?
Futures are still enabled
So I'm not sure how that's working
They did that with beam to in two in two phases
Yeah, it could be that you just need to wait for contracts to expire. I'm not sure but um
Yeah, I think all these coins were on business because business was doing like very business
They were being shaded they were kind of hiding. Yeah. Yeah
Now now they've been caught. They're just like ah, fuck it
Yeah, we can do it now. So fuck it
That's the whole point that didn't give a fuck about the customers like forever. It's not like they were working for us, you know, I'm saying
Yeah, or for the industry they were just working for themselves
Frankly, you know the whole Solana outage really?
That was a highlight of the week for me
How long did I didn't like that's that long right?
Five hours man, that's yeah a long time bro. Yeah, it lasted five hours. Five hours is nothing
They didn't even get their one-year sobriety
They were missing 25 days until it had been a year since our last outage
You think that's that's that's bad. We didn't have power here in California for four hours
Would be cool on it down before I was bad
Tell me tell me you don't have a generator
Generally, no, I don't have what lugger. It's like $500 get one. No. Yeah. Yeah, that's a good idea
So like what caused it to go down do even though we don't last time they said it was cuz there's too many
Transactions people are spamming the network and the validators just ran out of memory
The same thing happened again. I don't know but if that memory issues still around in a bear market
When people aren't even using this shit
Imagine what happens when when retail gets involved. I mean
The food is here we've all I feel like mr. Rogers
My gosh, well, we've all been through this before these are cycles and there are ups and downs and crypto silver
gold and you've got to find and pick the tops pick the bottoms, but
We've all been through this crypto cycle before right every four years, right?
but like going didn't do it this year, but everything else does you got to
All right, you gotta hold your stuff and don't like I never does it dude never don't it
Don't let anybody take it from you. Yeah, I'm a little bearish on this bull cycle if you haven't noticed this four-year cycle
Yeah, I've been I've been a doubter. I'm it and
Everybody knows everybody knows but I think like what I've been watching that was animal
I told you I've been watching the mempool and like if ordinals don't do something
What ETFs have done is they have completely dried up activity
Because anybody who's was on coinbase or was moving between exchanges and now Binance is pretty much
Cooked right? So like all that between
exchanges activities gone
people are just gonna put it inside an ETF as opposed to coinbase and
This cold storage fantasy fever dream is going away
You can see it and the all the major influencers are like
I mean shit Adam back is talking about how much the ETFs are soaking up every day as Schultz
He did so these people are like just put your money in the ETF, right? They're excited about that
Well, the ETF is not a Bitcoin transaction never ever ever
So there's no on chain activity except for ordinals. Once that goes away like the having is gonna come
They're gonna have their big celebration around
Rare sats and all that bullshit if that doesn't soak up the volume
I think you're gonna see very very little activity and if price doesn't go up
Which I don't think it will because I think the ETFs allow them to control price a lot more than they did then
rewards will drop dramatically and
Hashrate will drop which is where I was telling you the narrative will change
When I say May 15th by May 15th, you're gonna hear why it's good that that hash rate dropped
There will be some sort of story that's already being concocted right now
Yeah, I can't have a can't ask a question sure these are my above it these are the animal that's my weather prediction
Because I've been hearing about all these ETFs and stuff. So can you trade an ETF during the weekend?
Yeah, maybe like China could dump the market while the ETF is dead that that would suck for ETF holders, right I
Don't know who's gonna suck the market, but that's interesting
like if Bitcoin does like a
50% of minus or seems for plus 50% what happened on?
They just wait till Monday wait till Monday
This can't be good. Well, here's my question. Who's gonna drive the price is the spot market
We'll wait for the ETFs to dictate price to them or vice versa
If somebody comes in like they did in 2021 and goes the price in seventy thousand eight eighty thousand they're fucked
Yeah, what would happen during like?
What if price is dropping during the market being open and the ETF?
Can they turn it off? Could they they stop trading?
On the New York Stock Exchange while coin baby. Yeah live trading. Yes. Why would they?
With GameStop, right coin base shuts down even even even the the stock exchange does that. Yeah
Not uncommon there is there is circuit breakers, but yeah
It's an interesting game like I really doubt that would happen
because the arbitrage between the difference if they turn the circuit breakers on and the rest of the crypto market still like
They could potentially lose a lot of money
Or make a lot of money, right?
So which money though because I don't think that it is their own money
Because it's it's us buying ETFs
Right, but they have to cover it
customer right because they owe the customer that money so if they shut if the circuit breaker goes off and
The market's still going down
Like somebody's gonna have to pay
It's not gonna be the customer on the hook there. No, the customer is the first one that pays
Because first of all your value went 50% down
So you're paying 50% you you getting 50% less of your money
So you're paying that where's the fucking money
If you want to listen to how how the ETFs work
Arc arc invest did a great
Adam back Kathy would I don't know who else was in there, but it was really good. It was really good
We know some stuff that we can think for ourselves, you know
Like like a trust is like a like a separate company like a separate entity
That can be bankrupt. So if the
The Bitcoin trust on grayscale goes billy up they can bunk bankrupt it
So you you pay and you don't get the money back. That's what I'm saying
That's my my understanding. Maybe I'm not mistaken
You don't hold it. You don't own it. I mean you can hold crypto on a paper wallet and if the whole system goes down
But when it comes back up you hold your individual
Bitcoin like coin any whatever coins you got and especially the silver coins in your pocket. Yeah
Everybody has to go with gold and silver
You have to hold it to own it and you can hold Bitcoin in the crypto on a paper wallet and when it goes down
If it goes down and never comes up, we're all screwed. Well when it comes back up, oh man
Everybody who owns crypto or silver gold
This is this is a no-brainer people
You know what? They say that the following K 401k in a slowest security. They're gonna go belly up
because they all invested in gold ETFs and
Ethereum media is in fucking Canada
Well 401ks are different but you're talking pension plans and stuff yeah
Yeah, they're all invested in gold EDS and they have no gold
Is that right Canada has no gold the Emperor wears no clothes the investors
Have no gold. Oh, right, right, right
The same thing is gonna happen with Bitcoin. They're just buying paper from like in my perspective
But if you're I don't know even if you are a fucking institution like look at Cathie Wood
Just like a straight on a Bitcoin. How can she buy it?
She's buying it for customers
I'm saying that everybody wants the ETF so they can get on Bitcoin, but everybody can get on Bitcoin every single fucking entity
So if if you're if you're a Wall Street institution, you cannot buy Bitcoin define institution
Like the individual or GM the individual Chevy like
No, like named named named 20 other stocks they they cannot they cannot own
Bitcoin, but they have to own Bitcoin to made an ETF out of Bitcoin. What are you talking about?
Institutions cannot own Bitcoin
How's micro strategy do it?
Well because they took a big chance right and they're not afraid to
Want but whoa, whoa, whoa, whoa, whoa, you just said can mark their stock down
Because the fast rules don't use the word can't and then I asked you how could micro strategy do it and you said
Well, they took a chance so they can if they want to
It's really complicated but so so like a company like
Ford Motor Company, right? Yeah, so there's no way that they can own it because
they're in so many people's pensions and
And so they have they would have to get like
Probably not billions but
But they can tens of millions of dollars they can they're choosing not to
To get it approved through their board and all their pensions and all the accounting firms and yeah
the same goes if they invest in anything even if they want to buy property the same thing they're going to do they're
Going to go through a chain of
Approvals right but it's easier for other stuff, right? Not really is the same thing. Well, it's easier because
I agree with that more history
It's not so so for working by for can be by shares of GM stock, right?
Ford can buy GM all day long
Right. There's they basically there's no restrictions
Like if GM Motor Company goes up that Ford could sell their stock and no big deal, right?
And the counting works everything's fine and they're permitted to do that
They could buy Verizon they can buy whatever companies they want
but Ford cannot buy Bitcoin because of
the accounting rules for owning property
How do those makers do it? I don't understand why they're allowed to because they've never marked it up, right?
So even though they bought a lot of it like twenty twenty five thousand a coin
They cannot mark it up as a profit
Okay, so they're taking that loss on the chin
They they have to mark it down if it goes down right, but they cannot mark it back up
Went so say say they bought it over the value. They can't realize that value
Correct, but the mark but like the stock market can see that and go, okay
Well, they do really own it just like sure so like if a building goes up in value there
The market's seeing that okay fair enough
Well, maybe accounting rules and tax purposes they cannot mark it back up
Maybe I'm becoming paranoid
paranoid, but I think all this ETF stuff was for the
All the trust that was for many years there didn't just to get out
And they can take their money legally a grayscale trust. Yes. Yeah
That there's a lot of that. There's a lot of people asking for Bitcoin ETF
There's a lot of retirement accounts a lot of pension funds. I'm asking for
ETF, you know, it's a good deal
I mean, I think it's a I guess I've said before I got money in like an IRA and
To be able to get exposure to crypto. Sure
Well, you can do that right now anyway, you don't need an ETF for that if you're just an individual you can own a checkbook IRA
Oh, right, well there are certain assets I have never looked into that I had some like I said as LTC and I'm sitting on the
Sidelines right now. I'm not because I don't know what's gonna happen. This next halving is interesting to me. That's all that's all I'll say
But I tell me this halving is gonna be not really though. I don't think it's gonna be
I'm gonna get more and more skeptical and maybe we have another four-year cycle if we do great
then I'll wait and see where the momentum goes and go with that but
Want to wait and see and then the next one's gonna cuz it keeps having a smaller and smaller impact
You know, the supply is not changing that much
so we'll see I don't I don't I don't really think the markets and the
The situation in the economy. It's it's ready for this
Before its time interest rates are high. Yeah, I
don't think I think I think
Thinking right, but I think it's it's a money laundering they
they stole a lot during the
2020-2021 and they put it all in grayscale so they can take it without taxing without
Saying anything to anybody
Well, they did sell a lot of that shit how much grayscale they sell
Sold has been eaten up by the other ETFs
There's still grayscale left. There's still a lot of it left. Yeah, there is right. So what he's saying is that they got to offload it legally
Yeah, yeah. Yeah. Yeah, exactly. But yeah, you have to give credit to the Bitcoin
Ecosystem for the liquidity that he provided
Yeah, there are a lot I agree they they got to make some money that's where I don't I don't vibe
Really but the Rand rate the Rand, you know, I don't agree with you. I don't agree with these like
Suppression things right because I think if there were enough buyers, it wouldn't matter
But if you had if you know somebody somebody came up with
Ten billion dollars and wanted to start loading up on Litecoin that suppression would go out the window
You know, yes, they don't do that
It looks like a it looks like a white hat
Suppression though. I don't think like when needs although all those volumes and adoption that everybody wants
It's helpful. I don't think it's I don't know is it helpful though adoption. I don't think
Is it ready is it ready is it ready for like mass adoption not yet
But exactly no, but we need to pressure it and that's I do like the ordinal thing because I think it starts to bring the
Conversation to the front like hey, we need to really yeah very much like Bitcoin had to start thinking about this in 2017
Like when I had to think about it yet, you know, we've been growing at a nice pace, but we're still
Had without minus ordinals. We're about
10 to 20 10 to 15 x volume
Daily usage before we would start going. Okay
Let's slow the fuck down. We got a lot of users and fees are starting to go up. I
think it brings the conversation up in it and I
Think the conversation has to be had what's the gonna be the path? Are we gonna stick with L2? Are we gonna say look a block?
Doubling the block size is not a bad thing if fees are $25 consistently
So there's a possibility in my eyes, right
In my opinion, there's a possibility that all these are a test
Agree with you and that's a good thing
We're gonna figure it out. Yes, of course. What's the good thing? Yes
I think we got three coins in the top 18 that are all gonna get pressured and
They're all not a motor if you see the top 18 Toshi and it's a good thing
If you see the top 18, I don't think any of them can handle the volume of mass adoption
You mean there will be multiple coins in the future bagel mass
Other possibility how can the fucking world the whole world imagine the whole world working on the same
It's counterintuitive to human nature humans are
Yes, we have like 15,000 humans are competitors. We're always gonna be looking for an edge
But we also go to the other
Extreme that every fucking community needs their own fucking calling to operate. Otherwise, they feel oppressed or something
You know, yeah, I'm saying a lot of the coins are
They're decentralized crowdfunding. I mean a lot of them are scams
But like these NFT like we talked about with the NFT projects, right?
Like if you have a good idea you got a good business and you can sell NFTs as like equity in the business in some
way and there's enough trust built then
That's a great way of crowdfunding from the world and you have a token for the short term
But maybe that's not the end all be all of the project
It's just like an investment
That's kind of illegal to do
well, it's illegal because
The people who currently run that ship don't want to give up the game
It's not immoral. It's illegal
Yeah, I don't know about that I mean a lot of these guys shilling
Other tokens and stuff are just doing it. Yeah. Oh hundred because they're getting paid to right? They're marketers
Yeah, how many people are 99% scams, but there is a future where someone builds a reputation
says look I got this idea and I'm selling tokens and each token is a share of the
People buy it knowing the person knowing that what they're getting themselves into that's that's all selling stock
Saw a fucking movie for like five years people showing everything. I know we're in the baby stages, bro
If oody launches something he's got a he's got a reputation, right?
People know who he is. So it's not like he's gonna hide somewhere and
There's a there's a way in which you can present things that doesn't require a government stamp of approval
Say yeah, these guys I've looked at their books
They're good to go you could have a third-party account like tether is an example that have a third-party accounting business
you may not trust tether but
They've been running with this non-government oversight system for quite a while
Could you could we create light coin what if I said look light coin is redeemable for I
Send me light coin I will send you three ounces of silver from here on out
And when the price goes up I sell my light coin and acquire more silver when the price goes down
I got to go the other direction, right? I would be a trusted entity. But if I did it and had a perfect record and
A perfect reputation. I require zero oversight. The only reason for oversight is because
The government makes you feel afraid of scammers
Give me on a government thing again box
What you're gonna get me on a government thing again
Listen you have to have the rule you have to have the rule. You can't let people just scam people all over the place
Because you don't know what how though is the thing
Scamming right? Where are those money go? I know but that's we've been living in a system has government endorsed scam
Right where the government? Yeah pumps prices up by printing money and buying stock with it and there's nothing there
Or if you see capitalists have all this money and they go make this system and they get all the people excited that buy
Private stock offerings and shit on fake announcements and fake bullshit and there's nothing there. There's no there there, right and
We live we live in that system with government
We have to concentrate on the point of all this
Issues financial issues and
Isn't that the fed is this possible for all this that's happening
It's not a fed. It was printing money
You know the Fed is not like a federal, right?
For the most part. It's at the it's at the behest of the federal government
But they're asking for it, right?
No, no, they're lending money to the government, right? The government didn't ask for money to be lent to them
No, the government putting money to save them
It's not like a Bitcoin maximus you
Is not federal they can't print money they print money when the government asked for it
But why why but you can they print money without the request of the federal government?
Sure, they can the free market. Well, then why did then they didn't need the government to bail them out
No, they could have bailed themselves out
No, because because the money they have that invested it was it wasn't the banks that was failing in
2008 so there were no money to take back
And what was that all about they needed authority?
This is interesting like the automotive bailouts was the federal government giving loans to Ford and GM and all them
With money they didn't have that they had to borrow from the Fed
The question is without the Fed involved would or without the federal government involved if Ford could directly interact with the Fed
Would the Fed have given them that money?
Like low interest rates that the Fed interact with Ford without the government
Okay, the score goes to taste it's alone and the same thing
I don't know. I hold the federal government responsible
The government. Yes, of course
But they're only allowed to operate at the permission of the government
Not really because the so the the raids though
Are they own they decide right how much is gonna be the rate?
Yeah, I agree and I think that that's how fucking how fucking crazy is that I
Know hey when the when Jim got that bail out
That was because Congress had to pass a bill or something. It wasn't it?
Exactly. So they printed money and then give it back to the Fed the Fed give them money so they can give it back to the
Know at zero percent interest, but now that shit's high
It's high. I know from zero from zero to five. It's five hundred percent
What's funny is that this
Act so the Federal Reserve Bank is basically owned by families out of Europe
Yeah, I was European you he might be a fed the fed
I'm just saying I'm CIA. It is your it is your it is yours fault
It is the European fault, you know, they invented all of it. It's definitely not. It's definitely not the Native Americans fault
Elimination it ain't them
Yeah, that is that that's a sad story yeah
Have been repeated a lot of times. What's up big chief? Yeah, I like your your your profile picture. That's cool
Is that uh, like no no, it's like the French flag or something. Yeah. Okay. Here's why I did it. Are you a fresh naturalist?
I'm a friend. I don't did you guys hear a big chief?
Yeah, oh you can't hear him
No, I can't I was making sure you go. Yeah, so here's the thing. I looked at these things. I thought they were cool
Yes, it's like whenever there's only like 16 of them, which is kind of a bummer actually
And I was like these things are fucking cool. My buddy had me by the Germany one and I liked the England one
Animal I did by the Canada one because I thought you'd like it and this one. I yeah. Thanks. It had the circle
I'm not trying to get dickhead. So it looks a little bit like the light-code underground
It's got the colors of the light-code underground. I was like, you know what? That's a good one and they look cool. So
I'm supporting and I have some sad frogs and I would change it more often
But it takes a week to get your damn check mark back, you know
Yeah, and I knew it was you when I was scrolling and I saw like coin and then I saw the colors
I knew it was you right away. I didn't have I like I didn't mistake you for some other like point of comment
I do support the French, you know, I had a French flag on my bio after the
Charlie Hebdo thing remember that thing like from like five six years ago
You know those newspaper writers got fucking murdered in their office because they printed a Mohammed curtain
Like a deck that was over that was that was a decade ago over a decade ago, that's like
That's a long time. I had the French overlay at my Facebook thing for a long time because I'm lazy on Facebook. I
Anybody who did that to their Facebook profile, I just unfriended
like people have been flipping their shit over fucking
Dogecoin ordinals or like
Yeah, we're talking about a little bit. Yeah
Yeah, it's funny because I watched it happen with the Bitcoin guys and then basically
Now it's like oh, well, we got ordinals or we didn't do about it. And it's like been all of a sudden like
Seven months later the exact same thing happens on
Dogecoin like in the community and everybody started losing their shit over
Over the stupid monkey JPEGs like not losing their shit in a good way, but like losing their shit like
Getting angry and the fucking people are fucking calling other people stupid and scammers miss and that
It's like just a bunch of dude. Call me crazy. I will be thrilled when light coin blocks are full. I
Love it. That tells you I'm in for black space. I
was in the space today with a bunch of the
Basically, they were bragging and they were saying like this is just the beginning that we're gonna break dogecoin chain
Like they actually said that it's recorded. Yeah, they're gonna try but I
Mean even if it does then you know, it does, but I don't think you can
They're gonna run out of money. It's it's cheap to do it, right? It's really cheap to do it on dogecoin
They're gonna block so like they're gonna block for like a few hours and then he's gonna work again. Yeah
It's just there's gonna be a filled box
And then the fees will go up for a while and then it'll just be back to normal
But they're gonna be gonna do memes about it
Like what a good example of why you need multiple coins in order to have a truly decentralized system
You need to be able to opt for another currency if somebody wants to fuck with one of them. Okay
Well, it's whack them all at that point
What was it I told them to I
Just loved it, you know dogecoin to me is the most hilarious of all coins because it was like
It was a bastard child of Bitcoin, right? It was this like
redheaded stepchild some sort of cousin that had all the same principles the same DNA as Bitcoin and then
It survives you can't kill it
Here's the big problem is, you know, so there's so many people that are not on Twitter
They have no idea what's going on with the chain and they're showing their buddy how fast dogecoin is and they're like
yeah, I'm gonna give you some I'll give you five bucks, you know, like and then they try to use it during that period and
You're gonna be surprised how many people will leave that chain if that happens
Like it's like a 20-minute wait at most so it's like not a big deal and most of the if they're using like my doge
Wallets which a lot of people use the my doge wallet
That's still instantaneous. Is he because they're doing zero confirmation transactions
Yeah, they report that the balance total before it's confirmed
But then it'll revert if the if the if the transaction is like orphaned and then abandoned
Then it'll revert back to the you know previous chain state where that other the sender gets their dogecoin back
But it can take 24 hours or 48 hours
Yeah, I think there was some confusion
with those fun stuff like people can just pay for higher fees and
The network it was never I don't think it was in danger. I'm not sure it could be but
Regarding the net from what I've seen people only had to pay higher fees to get through
Yeah, and only slightly higher because the fees are already so low well even double the fees doubled but
Even if the fees double they were already so low that doubling doubling what you pay is still like significant or insignificant
Yeah, there was never really any issue but they did the foundation did
Kind of do a smear campaign kind of like flooded it like or dogecoin sick blah blah blah this and that we need to take action
Was the time between between the blocks?
One minute. Yeah, what's the target time so many?
It's fucking fine. Yeah, it's fine. You never gonna get it's never gonna get congested
Yeah, and it's better like mine. So fucking I mean it's congested right now. I have several
I have several transactions sitting in the mempool, but I kept lowering and lowering my transaction fee. Yeah
Until it didn't work anymore. And that's why
What is those gonna ever do segwit, you know that that sounds kind of familiar actually
The chief are you guys is a dogecoin everything do segwit you think I don't know
Probably because we're gonna have to have a layer to like we have to have lightning eventually
Maybe what if you guys become like like Bitcoin cash more that'd be kind of interesting
I'm just saying ox eyes. I'm just saying that would love it. Are you in love with the Bitcoin cash?
What was it there? No, hey look
I like I think they have some people in their community that are
Working their ass off to try to do crazy do different shit. I think they're like
They're working on the wrong chain in my opinion. They're in love with the Bitcoin name too much
But I don't think they're bad people I
Certainly don't think they're like scammers or something like that like that
That's like the furthest thing if you've been riding Bitcoin cash for six eight years you ain't a fucking scammer
You're trying to make it you're trying and they you know shit dude
You can use that shit and they do the zero confirmation transactions. I love that shit
I think that we should be pushing that for Litecoin so hard. It's a huge differentiator between Bitcoin and Litecoin is that
Has what that's some that's some flows. It's not that easy
But you have no we don't have replaced by fee so
We have like a two confirmation, but once it's in the mempool, it's good
Is it good though? There's no way to reverse that transaction. There's no way
Unless you control a lot of
So they use I actually asked the bit refill guys to do it
I said hey, can you guys do zero comp and the one one guy got back to he's like, yeah
He's like, let me talk to the CEO. I think that is something we could do because they used to do it for Bitcoin
but they turned it off because of
So yeah, if I can go in bit refill and get gift cards instantly my credit isn't
Well, it's two and a half minutes. I gotta wait. I
Want it fucking now I'm there you come on it should be now it should be
Address it is no. Well, that's what I'm saying. So
So if if it's maybe they say like anything over $100 you have to wait a confirmation. Okay, right?
But like 25 bucks 50 bucks on Litecoin
No one's reversing transactions or dicking around
It would be a great thing for us to be pushing
I don't know and web is fast like when it's fast. I don't know. I don't know why you're not
Uh, I think she's get to get back to for the other point you said about the foundation putting something out
I feel like they should have been very specific of what was wrong
Because it caused a lot of panic iPad iPad a little too, but you saw people work. They were very
In no opinion the the foundation the people on the foundation popped up in 2021
During the last board run the foundation popped up and the whole thing is all just a fucking those people are just they've not even
They probably don't even write computer programs. They probably have somebody else write it for them and then they post it as their own
They're they're like just
They're nobody you don't even fucking pay attention to the foundation they can't do anything
They're not going to do anything. They're a bunch of fucking
Your your donation. That's it
Well, they do have real coders because one of the core maintainers is a member of the foundation if I'm correct
Right, right. Well, yeah, I mean that
In order for him to do anything that there would have to be consensus
Like throughout the community not just the foundation
That with the way that like things are implemented is it needs community
It needs a community consent for it to to to go into effect. Otherwise, it just doesn't point to effect the the miners
Won't upgrade their fucking core. And those are the ones that are doing the uh maintenance of the
Those are the nodes. Those are the important nodes. Those are the ones that can do reorgs and such
To maintain the note or maintain the blockchain as is so I won't worry about
I would not worry about the foundation and their pull really the only thing thing they can do is get you know
Stupid new people to download nodes and run the new version though. Like i'm not gonna upgrade. I won't upgrade
Fuck this anything that's that's being pushed by the foundation. I'm not gonna upgrade too. It's just that simple
And I know a lot of people like that and that's mostly people that are actually
Running nodes and actually know what's going on. And then also we have
basically everybody who uses
Incentivized to run the current
The current release and they won't upgrade to something that's gonna
It's something that's gonna fucking take their dojanals away, you know, and that's a lot of fucking people
There's there's more people that have that have put on they have uh spun up nodes for dojanals
I don't know it hasn't even been a year
And like people there's like hundreds of nodes spinning out because of those
Yeah, that's wonderful. It's great for adoption
And absolutely like you but for me like but we all have to accept i'm sorry
We all have to accept this fact. What if this is what people want to do with it?
Like yeah, it is we need to stop it like
You might think oh, well, I thought this was going to be digital cash
Nobody really cares about his digital cash and they want to use it as these permanent storage facilities
And they're paying the well, they run the show if they pay the fee right they run the show not me
Right. So in a world of abundance, why do we need money at all?
And we live in a world of abundance and we're going to and it's going to be uh more and more abundance as time
Progresses with the the automation with the tesla bot or
We're not going to even need money. Eventually. It's just going to be everything is going to be here for us
I mean, we would like to keep our memories from the past. I would like to have like a picture
I would like to have my pictures my grandma's picture and my you know, my children's picture what my you know
My niece's my nephew's all of those pictures inscribed
For in perpetuity in on a blockchain that's maintained by like thousands of people
that that is my idea of value not being able to spend money because being able to spend money is just
It's my own bias. I think dogecoin should be a currency first and always
But I also respect people like you who are actual creators want to just try things out
but the people who are spamming
Like marketing these things has things that will make you make you rich. Like those are really the people I have a
Well also including the blockchain
Like I worry about that too, but mainly for me. It's the scams that could happen that I'm worried about
That's right, they're just going from network to network to network basically just
basically like fishing getting all
Their trash as they can and it's just a money grab it's all it is so won't fall for it
That's all the drc20 or drc tokens are for the
DRC 20s the ltc is it ltc 20s?
Thanks me or is that what they're called? Uh for dogecoin they call them dr c20s
Hey the rand go ahead you've had your you're so patient. I know you love the space you say you love the space
And I love and guess if you're in the same vicinity, you can slap me. It's fine
This word before in the last
Can somebody here explain to you what ordinals is?
ordinals on the blockchain
All right. So in the ordinal is the
Apparently the concept that you can essentially and you can do this
Essentially track and order all of the satoshis or litoshis or
What are they called on dogecoin?
Just coinu so coinu k-o-i-n-u you can track the smallest this small unit
And uh, you can follow it right?
So, you know where you know, it has like an identifier let's say right
Or a serial number or something like that
With inscriptions what they're doing is they're
Encoding information that is attached to that
So an inscription is something correct me if i'm wrong an inscription is on an ordinal essentially is is
Following a satoshi around so I can send you that satoshi and it's in your wallet
That data it's not really like
There'll be a picture like what I have right now is my profile pic is an inscription
If I went on the blockchain and looked at it, it would just be a bunch of letters and numbers and stuff
But there's software essentially that interprets that and turns it into a picture
People are essentially vandalizing the blockchain
That's a good. That's a good way to put it really
The sacred blockchains are being vandalized for profit
So you could so I could you could spray paint. Let's say each satoshi is a building
You could put a work of art on it
And then if that work of art is something people like they're paying a premium
To own that specific building because it's been vandalized
Hey animal, don't you it's a great analogy
Do you remember two years ago when I made that uh,
Litecoin omni inscriber thing that would encode data onto the blockchain
What about so I mean I thought it was cool then I still think it's cool
I mean, yeah, there's a lot of scammers going on but
No, I I just say it's you know, because these things are sacred right like in my mind
The like holy books like you know comparable to the bible and whatnot
right and people when they go up there and they just
try to do it for profit and
dump on people right like they mint all these nfts or
Ordinals and then rug it at the end
I just think that's kind of disgraceful and
Doesn't belong on the blockchain, but look it's it's a free market
So they can do whatever they want as long as the protocol allows for it
Strong opinion on it. I think these things to answer the ranch question
I I think they're just like there you think of them as nfts right on ethereum
just a point or two of uh
You know an ipfs server a file on ipfs server. It's actually inscribed on the blockchain
Whereas with the theorem nfts if the ipfs server becomes unresolvable for whatever reason
ordinals on bitcoin doge and litecoin
There's essentially no way to erase them and if you run a litecoin or bitcoin node
You're going to download everyone's ordinals whether you like it or not
Everybody has the horrible stuff on their nodes
It's the truth and it's the sad truth
Um speaking of ordinals i'm looking at ordinal light right now and it looks like there's a
Thousand collection of those bitcoin frogs
being inscribed as we speak
um and they're reversed and they have a litecoin symbol on them and
They are not associated with anything i'm doing but it's kind of interesting that frogs are
I think hey your name first
First is it your name first? Yeah
Do you remember when I when I was busting
When I was busting the community's balls and I was like, dude, why are we calling them litecoin ordinals? That's boring as shit, right?
Let's come with some new names
I think uh chief said lord no
He didn't put the little apostrophe and then that leather wallet did a post of ordinal
And we are like that's fucking hilarious and like all the squares are like no, it's a litecoin ordinal
And then just this week light scribe or light
I know there's two light verses because of uh some sort of contention
But one of them changed their name to ordinal marketplace and i'm like hell. Yeah
And we got chicken market in ordinals, which means
Nobody's calling them litecoin ordinals and I think that's a good thing
I would I agree with that statement. Uh
It's it's kind of it's kind of charming
And it's sucks that there's
I don't know. I I digress but I know there's some contention there. I'm just saying
So here's it sounds European
Fancy I have to say yeah, I have to say dogecoin ordinals
Because if I don't say dogecoin ordinals and I say dor dojunals
Then i'm automatically lumped in with the fucking scammers
So we don't the the politically correct way to say it in on dogepoint is dogepoint ordinals not doorknalls
Uh, yeah, I like wait why why are dojunal scammers and do not did I miss something?
Okay, yeah, so check this out, you know how they do you know how this inscription works?
Uh, they use these they you run it you spin up a core and then you have this
Indexer client running right? Okay, and uh, it interacts with core it makes the inscriptions it makes
The it mints the drc20 tokens. It does
Um all all of that interacts with the with the uh, doge ordinal ecosystem. Um, well
The people who ported it to dogecoin
Are scammers right? So when they released when they released the github repository
There's intentional errors in the code and unless you're like a high level coder
Uh, you're not you're not going to know how to uh, create an inscription on doge point
And it's like gate kept by these that's people that own
What's called doge labs? I think it's called and that sucks by the way, right exactly
So it's it's already got like all this stigma attached with so yeah, uh
I'm trying to do it. You know, i'm trying to make inscriptions that i'm I had to go through
17 different githubs of uh, a way of uh, the
Uh repositories before I found one I found one through another guy
one of the guys that's running one of the rooms and
Uh, he has an application. He can do inscriptions on his computer
But he he goes on and he can mint drc20 tokens and he can do all this other stuff
But instead of teaching the people
And I know this right because I have the version that he has
but instead of teaching his room of like 150 people how to download doge point core node how to
Or where to get the github for the uh indexer
He he uh walks them through how to mint these drc20 tokens using a third-party service
Uh that charges a premium for their service
Well, it's a little bit like I mean, I don't I don't feel like there's a good how-to. I mean i've been
I've been talking this for like two months a good how-to for me to mint tokens and not use
Whatever the light scribe thing
And I wrote you a nice guide. I don't know. What's your problem? I know I feel like I gotta i'm gonna
Animal's like, okay go buy a new computer because you're once all fucked up
Okay, big chief while you're here let's name names who are the scammers and scammers and dojals
Can you name a few names and be like this guy is not somebody to trust?
Yeah, eight bit eight bit
Yeah, I don't trust eight bit
I mean extract what information you need from the guy get what value you can but other than that
Ignore pretty much everything else. Who can you trust?
Billy bitcoin billy bitcoin, okay patrick lauter. I trust patrick lauter
Billy bitcoin created this
He made 10,000 of these things that my pfp is he owns over 10,000 of them
Uh, he has all of them. He mints them all he's selling them. He owns most of them
Over yeah over 10,000 he made 10,000 in 420
Uh, he sold probably 300 of them at 69 doge coin apiece. So that's five dollars
So he's made a good chunk of change off of his
His investment his time and he learned how to do this, you know all of it
A 10,000 collection inscription and I and he was in he wasn't in these
At that time at any of during any of this time. He wasn't in these shill spaces. He was with uh,
Dogecoin community just like hanging out with us and I was him and I would have been working
Like together to figure out how all of those words
So I would trust billy, uh billy bitcoin. I trust you chief
But then you know, I mean shulcey do you shulcey in here thinks I make stories up can you believe that shit?
Was the most all I work on a construction site
I don't make any stories up
Whatever I say right here is the truth. I've done that. You know that night
You might be like I think I drank three bags of
But I just love listening. This is so great. Sorry for interrupting. My bad. You love the space you can't help yourself
It's terrible. So I I've got a flat
It's like I was hoping for this
This is thank you. Okay. Okay. Let's let's let's okay. We're good. We're good. All right. Go ahead. She'll see what's up
So, uh, I was in Nashville last february and uh
I I really wasn't there. I I had no idea there was going to be anything going on with the ordinals
I was just in I was in tennessee
uh visiting some family there and
I usually go to bitcoin park, which is in nashville
And hang out with some of my friends there whenever i'm there
Wednesday night they have their their bid devs. No, it's tuesday night
They have bid devs wednesday night. They have their meetup and I was there for both of those nights
So so casey wrote them where it was there and so I got to go hang out with him
uh after after the bid devs
Which was you know, it was kind of
Pretty controversial like what he was doing with ordinals, right?
but a lot of the guys around bitcoin park
not against it which was surprising looking back because
You know, they were like, oh, yeah, it's gonna be good for fees. Yada. Yada. Yeah. Yeah, and now everybody hates it
Oh everybody's bitcoin community does obviously more people who use the chain like it
Than the people who don't use the chain
I mean the miners like it because it's higher fees like
None of the bitcoin maxis like it at all. Yeah, but they're not but they're not bitcoin users, you know
Yeah, we don't care about the maxis. They don't use bitcoin. You understand that so they have no you have no power here
Like that's that's the part that's where I go
Look, who the fuck am I to say if this thing comes and sweeps away like come on i'll go damn
Maybe this isn't digital cash. Maybe
Maybe we're gonna we're gonna be on monero, right? Maybe that's digital cash
If you want, it's a public ledger
It's a public ledger where anybody can go put anything they wanted to that's uh
It's like a book in town square that everybody can just go write
Uh, who owes who was yeah, and we're the we're the beginning as soon as people start figuring out. This is possible. Holy shit
Tickets to events you can
Sell pictures you can do whatever you want. It's a public ledger
And if the picture is on I don't know
Drake draw something on the ledgers there forever drake needs to make an inscription from what I hear
Jesus christ, um, but big
Big teeth. I was gonna say that. Um
I just wish the ordinals things happening on a different chain like that. That's just my honest opinion
And but don't take that as personal because I like you I think I like you you're very well educated
Yeah, they're happening on every chain. It's not it's not doge point centric. It's just across the board
They're doing it on every chain that they can possibly do it on they're trying they're in they're doing. Uh, what do they call them?
Uh, eth descriptions inscriptions into the eth into the ether, uh ethereum
So, I mean it's not like it's not like anything that
It's crazy. People want to do this as data storage and it's free or like it's
No, and the chains have to be able to resist these things right like it's just another test
If if they can't overcome
This ordinal fad, I mean they're not going to make it when when we need to use it
This is just we're just like we're we're we're was it battle testing it ahead of time with this stuff
Yeah, that makes that makes sense to you
If it's possible for it to happen
It will happen right if it's an attack vector. Well, we have to see how
Um, and if it is a problem if it's a real problem then we got to fix it
But until it becomes a real problem
Um, I don't know if we should do anything
Yeah, like i'm not scared
Uh, but you're probably right like the best thing to do is just wait and see see what problems happen and fix them as they come along
and today with that, uh, bitch if you know what smithings steady and posted right about
Oh, what was it like the inscriptions causing the network to be clouded like that
Might be true, but the chain has not broken the doge chain. Sorry dogecoin network is still working
I don't see I can't the the concept of clogging doesn't like meld with my idea of how a blockchain works
Uh, that's not a thing. They're clogging
Of a block. Yeah, like what the only thing i've seen so far is higher fees
By the foundation so that they can implement a solution to a problem that doesn't exist
And that's what it is. So they can they're trying. Have you seen that?
Have you seen the chart of the mempool yet though?
Yeah, no, I have a bunch of transactions definitely mempool i'm it once these, uh drc20 tokens are minted like
Minted out which is going to be maybe a couple months from now the mempool will start clearing out and it will be fine
It's it they're going through every word every four-letter word
in uh, probably every single language out there, uh, and then they're doing
Instead of an i an explanation point and this and that and they got they have bots
That are literally out there
minting out these drc20 tokens because it's like the uh, it's like the um
When they were all buying up the
What do they call them domain names back in the 90s when everybody was all speculating on domain names
That's it's the exact same thing people are speculating on these tokens because uh, they might have uh
XXX explanation point token there might be somebody that wants to give out xxx explanation point
Rewards points and if somebody has minted out 100 of the supply then they can sell that token
That company or something like that. I don't know exactly what they think is going to happen with these or maybe
So what's crazy is that like
This drc20 protocol is just an arbitrary arrangement of a json file, right?
So if they do saturate if they do mint out every four
Then they're just going to come around and create this new protocol like drc30
With five and do the same thing over again, right like
so at some at some point it is pure spam and
I don't know if there's going to be a real use case a real world use case for for these tokens
I I have a hard time seeing it but it's possible
And until it becomes like a hard standard. I mean what's stopping people from
From improving on it was like quotes improving by creating another one. I I do think the bitcoiners have improved quite a bit though
The way they inscribe right it's way less data heavy and they've gotten much more efficient
Which again is probably a good thing
Are you talking about the uh, the vector based ordinals?
Yeah, I know that these are like they or the child
Whatever child pays parent or whatever it is, you know
I'm talking about where it's like you don't have to get one you can basically create a master
Inscribing everything immediately
Yeah, okay, well so that's those are inscriptions like ordinals right but i'm talking about these drc 20 tokens or brc 20. Oh, that's okay
Like these it's just an arbitrary
Protocol that someone decided was enough right just to create tokens
You have a very basic instruction set
That's used by an interpreter
Basically to manage these tokens that you create with on drc 20
Once these tokens are all minted out once all the the namespaces are taken up
There's nothing stopping them from just moving on to another protocol
Like, you know brc 21 or brc like 30, right? It's just
And they're definitely like pushing the networks now to their limits
I don't think it's going to destroy the networks. I think they'll bounce back
And hopefully it is just a passing fad and people get bored of it
Once enough people lose their money and they just
Lose a taste for for that kind of nonsense
Go about this. What if the like the government?
That the government fails and they're no longer
Scc guidelines right and anybody can tokenize whatever company they want
Whatever protocol that they decide
The the drc 20 tokens may be like
Just one step in that direction, right because if we can just make a token
That trades on a market and that's uh
That uh is a security like have secure have a securities market on top of like coin on top of uh
Then these early tokens may retain some of their back some of their value because they are still
Able to be speculated on and then also
Whatever your interpreter would be would also display both those and your uh
Your uh securities just just a thought
So like it would be like a store of value or like
Just a freaking token that just has a little bit of value just like it's still
Like it has now. I see what you're getting at and I think if that does happen, they might have to rework the protocol
I don't know if uh brc 20 would serve their needs
Right, right. No, they would definitely rework the protocol because by that time all of the taker symbols would be minted out
So but it would still the old protocol would still possibly exist but other than that
Other than that happening. I don't think there's any future for the brc 20 tokens. I won't
I've minted a few of the dbit which are supposed to be the sats of the dogecoin
Ecosystem or whatever. I don't know whatever it's something. They have the same token on like this and that I don't know
You should make sure everybody in bitcoin knows that charlie is the first one who talked about tracking satoshis
No, I didn't who charlie lee creator like coin early bit. Okay, uh danny danny
He has consistently posted this that
Charlie was the first one to go. Hey, you know, you could track these satoshis
Way back to the beginning. So he's you know
Let's make him your enemy make him the enemy of the maxis. I think that's a good thing
Do you guys know why charlie lee sold all his like coin?
He's a motherfucking gangster
No, well that could be true, but it was actually
He sold it and got it into bitcoin and whatever but he he wanted like going to be so
Decentralized and not even known by one person. He sold it all and gave it up and just traded it for bitcoin
And so one point decentralized. Yeah, he owned bitcoin along before
You know before he even created like coins. So he's he's he's fine
Hey, he's gangster. Yeah, but he's a motherfucking hustler
Like one is out for everybody. It's out into the world. Everybody can own it
Unless you own a bunch of it, but no, but charlie lee sold it remember
But I that's been a little bit of us getting footing is like I think bitcoin had a solid foundation of leaders
Carried the rain carried the torch for you know, probably the first two three years up to 2013 14
And like coin, you know, we haven't really established that I think we're still in the in the phases of establishing that
like who is going to take this voice over
There is no charlie lee and I think he's trying not to say anything because he doesn't want to influence it
Like he would love he would love to be able to just fade away in my mind
And like whom won't play do it. He just wants to just it's out there. It's that's humanity
and charlie invented like one for humanity
And then oh what let's not get the reggie and veritasium. Oh, jesus fucking christ, dude
I know and that is people with veritasium and digibyte that you know, look whatever god
I know you guys are all digibyte people
I sold my digibyte. Sorry guys
You're not you're endless it's like an endless sorry guys I had half a battle with crown royal
It's all good half a bottle
I love this face. Oh, hey, I learned so much from these things
Hey, and I just I did I say something about charlie
um, I I think you know, he's he's a man of few words
And I think he's not going to say anything unless he has to
He's not going to interfere with litecoin unless he has to
unless there's a need for it
So many leaders in this space
Say things to remain relevant
Right for the clout they want to stir the pot
They want to get reactions engagement and all that stuff
He's not all he's not about that. He just wants a protocol to survive
And at this point it's doing all right
It doesn't need any intervention
But i'm sure if there is a day that it does need some intervention some retooling
He'll be there to offer his opinion
And maybe help guide the conversation in a positive direction
Right be like that stage advice
What's wild dude is like he was talking with kyle about bitpay, you know, and I know look
I know we talk about bitpay a lot as litecoiners because it's like wow. Look at this. It's a
you know, uh feather in our cap but
He was like I I you know, I was happy that it got accepted and he goes I never imagined
That we would be above bitcoin so quickly
And to see that adoption level consistently we're going on nine months of
You know where the it's the one that people prefer to use they have usdc matic doge bch
ethereum bitcoin litecoin they can choose from all these coins and consistently users of bitpay
The plurality of them are choosing litecoin I mean that's
They're not it's not like they tried litecoin. They went no i'm gonna go back to something else
They're like, yeah, this is what I want. I like it
The fact those numbers continue to go up. He has to just feel like it's got to be like this seems very surreal
That they're I mean look at how many people come into this space every week 15
How many people are on twitter?
That we are consistently posting 100 or 150 and yet despite the thousands and thousands of
Robotic posters for all these other coins
People who want to use crypto consistently use litecoin you can't deny it
There's no manipulation going on with that
For sure. I mean the one thing i'll say is that uh bitpay doesn't do lightning
So we're missing those who does you know?
Bit refill does and they had a long thread about nobody uses like lightning
They use litecoin far more than they use lightning
That's cool. Did you see that long thread they had?
I did not know it was like bitcoin was number one still ethereum was number two and litecoin was number three
And it was like only like five percent
But lightning was like less than a percent
And the guy who runs bit refill was like look it's just an extra step. It's a pain in the butt
Like for the most part if people want to use it, they're gonna just instead of going with the lightning whatever
They'll just swap into another coin like litecoin that they like and they'll just use litecoin like it's way simpler
they don't have to mess around with some app and
Worry about liquidity or whatever they'll just they'll just use and I think he mentioned dash and whatever
There's all these monies that are going to continue to exist and and I know I brought up manero earlier manero is resilient
improving to exist as is litecoin and
And doge and I don't know when you get into the money the cash coins
It's starting to it's you know, something like dash has kind of faded away z cash is fading away, right?
There's only going to be four or five that he uses cash
And litecoin is one of them and then we should be happy about that
Yeah, I agree it's it's a good coin
And resilient I I called it impossibly hard money and I think it is
When compared to things like bitcoin
Because I don't think bitcoin's impossibly hard, I think
Whereas with litecoin you got the doge that's protecting it
I had I had something I wanted to say earlier. This is related to um
Like uh permission lists or where fees should be or something, right?
So I don't know if you guys ever heard of an economist named walter williams
It's black history month. He was a black economist. I think he died recently
If you can go on youtube and look up a guy walter williams go look him up great economist interesting guy libertarian guy
And he always talked about minimum wage and he would say like all these government programs are put in place and
The problem he goes anytime you have an economic principle
You need to take it to the you need to extrapolate it out to its extremes
In order to understand. Is it a good idea or a bad idea?
So if you're going to implement a minimum wage and you say well, it should be fifteen dollars an hour
The question should be well, why not twenty dollars an hour? Why not twenty five? Why not fifty? Why not a hundred?
Why not ten thousand dollars an hour?
Right if if it can't exist at all those levels
Then it's an illogical thought in the to start with
Yes, so this stress test in a way yeah stress test so if fees on dogecoin
Let's say if one penny is
Let's go in the opposite direction like at what point
Is it cheap enough? Is it like at a half a penny?
Does somebody have to pay you to use dogecoin?
Do they have to pay you ten cents to use dogecoin like?
If you're going to put yourself in the position of power
How do you dictate what the right price is the only price is what the market will bear?
That is a thousands or millions of people deciding what they see as a fair price for the product that they're getting
And so when people start talking about this is the right price or that's too much. That's too little
You don't know that's not you can never be smarter than
And you just need to let it need to let go of control because you have no control
You know i'm saying opium joe's opinion does yeah i'm gonna call you opium don't I get let it go
Because the market wants it and you are not
You don't get to control people
That's right. You're right. You're
You're absolutely right. Um, but
Oh, if my butt that's the biggest butt i've ever seen in my life
You like big bucks you cannot lie
But if it gets to a point where dogecoin is like
Really unusable like you have to pay a hundred dollars a dollar. I think that will be unacceptable
For people like me I guess a lot of cash
Well that but that's but see the market wants to use dogecoin, right
That's what it would be telling yes, there's demand for it
And if that is not to your liking then change monies
That's option two definitely
That's the harsh reality, you know
Or maybe there maybe there is a protocol change and you can influence enough
It's like it's that is kind of a democracy thing. Are there enough users that would say
We're going to change the protocol
Starting a new chain that no one cares about
Which is what bitcoin which is what the block size wars were about right
Which would be the same as changing currency exactly it's a new network at that point
You guys following the craig right drama kind of switching subjects a little bit
No, I don't I really don't understand why people are so obsessed with that guy
I don't get it. But what well tell me what happened
I just I don't follow because I don't understand why we keep giving him attention, but go ahead
What happened with him? You know what's interesting is?
Bsvirs have come out of the woodworks this week and i'm surprised there's not one in here tonight because
I mean they've been in dogecoin spaces. They've been in uh
ethereum spaces they've been everywhere they've been in a lot of bitcoin spaces, too
No, they're just they're just calling they're just saying like oh, yeah bitcoin's gonna go down after this krag wins. It's
You know you guys are done
that's a drama, but I mean basically like
from from what i've seen so far like
Nothing has gone his way and
He's basically like gotten caught in court forging documents
Like like the biggest one was he said no my attorney did that
The copa attorney like zoomed in
And it was it was his it was craig wright's profile picture
In the chrome browser for the document that he said his lawyer just did like like a blatant lie right there like
I think we lost hulsey again
Hey, do you um, am I the only one that's starting to think that
What's his name durian satoshi might be the real satoshi
The guy no, but sick the pic the guy the meme guy yeah, yeah
Well, exactly the guy that at some point they were like we found him. Who was it?
I thought the feds thought they had him. No, it was some investigative journalist. Oh was it? Um,
I'm, not sure which which news outlet was was it rooters or something?
Anyways, like yeah, we found the guy same company that broke the walmart like coin news
But I mean someone was arguing that is
It might actually be him because now that the guy's a prominent bitcoiner, right? He's showing up at all the meetings and stuff
and I mean if it was satoshi
That would have been a great way for him to come out and to be involved with bitcoin again
while not being harassed by
I think bitcoiners should want him to show up
And say i'm gonna sell my coins off
Shit, I don't know ten thousand every week for the next five years or something
And i'm done and i'm out that'd be perfect
It'd be a better it'd be a better scenario than this like anvil hanging over their head
It's I feel like that's less of an issue
I think there are bigger problems facing bitcoin at this point
Namely bitcoin cash you were saved every week
Dude, it's serious people are ignoring this this but it's it's a threat
It's as long every day that it survives
I mean is it becomes a greater threat to bitcoin?
I don't think I think the fees make it impossible
Because the fees are so much higher on bitcoin
That I don't think and because bitcoin cash has a commitment to never raising fees basically
They're kind of relegating themselves to being
Second to relying on bitcoin for
Well, okay, okay, but say
Gain massive traction people are actually using it
Bitcoin bitcoin, it's not happening
How high can the fees go before lightning stops working effectively?
Well, okay. No, but here here here that I will say I think that
The worst case scenario for all altcoiners
Is that everyone just loves custody solutions and doesn't care
And that they all they care about is 21 million
And they gladly hand over their information and don't care if all their money is tracked
Because then you have no there's no advantage to using litecoin if you can use a custodial lightning
Okay, but say for example in like an optimistic situation that there are lightning nodes that are operated
In jurisdictions that can't be controlled by governments
And so these are like considered open source and safe and somewhat like freedom nodes
But you can't use our freedom channels unless you're a black market actor, right?
Like maybe like you wouldn't be able to send from strike to an unauthorized lightning node
They might block that transaction
They will they've gone there. I mean, that's why they're only available in a handful of countries, right?
so yeah, you're saying there's going to be like a
A good lightning network and like then the black market lightning network
Yeah, I mean there kind of is now right? I mean strike is kyc
It's only available in a handful of countries because they go to the government and they say hey
We've got this product. We'd like to use in your country
What do we have to do? You tell us what hoops to jump through and we'll gladly do them
Right. So they're complying 100
and so if people don't see value in
Opting out of the current of government control then
They'll just use lightning in custodial solutions
That's the end of the day that's what they'll do i'm not like fud like coin i'm just saying
Censorship resistance is censorship resistance is meaningless
Then they'll just use whatever the government allows them to use
Don't think that's why crypto has thrived for 15 years. I think there's a reason people
don't trust their government and have used gold and silver and crypto and
Bartered for millennia is because they know their government is looking to tax them
So or control them in other ways, yeah
No, I think I think that the the way the uh, big wind community is trending towards
Custodial lightning is I think it's a very concerning aspect of the space
No, you're absolutely right. I don't I didn't and I don't think those people are bitcoiners. They're just fiat maximalists
you know, they're just they're just they just want to gain money
and enrich themselves and uh
Yeah, I got I got a guy like he's commenting on my stuff. I went to college with him and he's a smart guy, but he's just uh
He's a recent guy and he looks at it like ETFs are fine. What's the problem?
Like I don't like they're so focused on scarcity. All they care is about scarcity
They see that as the primary
value proposition of bitcoin is that it's scarce and so when they they mock
It's like oh, there's your privacy. Good luck. You lost all your money in private. It's like what the fuck?
Like that's so crazy to me
Like here's these are people literally, uh trying to live
Trying to opt out truly opt out and all their finances are off the grid so to speak
And they get mocked by bitcoiners because it didn't
It's just it's very telling it's very telling
you know, yeah, they lost the script at some point and
It should be about freedom freedom to transact
Um with that permission that was you can't say they either. Well, I mean, but it will be
With my opinions doesn't mean I represent all bitcoiners and just because you go into another space
There's no freedom fighters left be honest
I mean come on. Oh you saying you're not either
Uh, I think people should self-custody their coins
and I and I and I and I would I do I would encourage
Coins that they can use self-custody. I wouldn't tell them to
Never use anything else except for an unusable coin. That's the worst advice. There's no
Self-custody anymore, especially with the partially signed transactions
A week you can build whole ecosystems off partially signed transactions now. Why would you not self-custody?
Because they're part of a cult that's being manipulated by people who don't want self-custody, you know
Okay, they want to keep their back. So 90
Probably 98 percent of my is in in self-custody
Then why don't you hate michael sailor?
Why don't you say fuck you jack maulers? Is jack maulers a piece of shit?
Yes, he is he encourages people to use a custodied solution which defeats the purpose of bitcoin
So why do you support him?
He's got a great service to do what
Fast and free transactions, but it defeats the purpose that's like and and
500 in your litecoin wallet and bitcoin doubles it goes to a thousand bucks
So you're still getting the benefits of number go up
Even though you have a have that in a lightning wallet and and you can move it right back to us dollars super easy or
Your whatever currency that you live in so you can go back to pesos. It's all permission. It's all permissioned
There's nothing but if that's the thing so like if if they get subpoenaed by the government
To block your wallet. Can they do that? Yeah, they're gonna pull you can go right back to bitcoin, too
Don't forget you can go right back to real bitcoin. Let me ask you this at what point?
When the government if the government decides to tax crypto gains at 50
Then why would anybody use it
Right, why would any because because i've got your I I can look you up
I can I can get your litecoin address and I can figure out what who you are by triangulation
Like I can figure out who you are. So if you think you're gonna get away with not paying taxes like
Well, then what are you doing? You know what you're wrong. I don't understand what you're doing then
So what's the purpose of are you are you going to use your litecoin if oh, wait, what is the purpose of bitcoin?
I don't understand what you're even trying to do if you're like you if you think the government is going to let you skate
Okay, am I anti-government or anti-federary reserve bank? Which am I?
I'm not at the hand you think the government's gonna let you never pay taxes
Is that what you think's gonna happen in some countries
In some countries because inflation is a form of taxation
So if they figure out they can't get it from you via inflation
They're just going to tax you and when you walk into their systems and go. Hey jack maulers
Yeah, this is who I am. This is how much I have they're just going to take it from you, dude
Again, I don't have like billions of dollars. I'm not trying
I've only got like what you're encouraging people to do at the most you're encouraging people
To use these systems. You just said
provides a good service you just said because i'm not provides a good service to who frankly
Encourage that i'm saying he comes in here provides a good service
Is that I do he's got a good service to do what what are you doing?
I don't understand what you're doing if you're just taking all your financial information and getting
it to a guy you don't even know
I've already explained it to you. He's a cokehead
Okay, so how I use strike is whenever I go and pay for a service with bitcoin
Like if I know I need some money in my strike account some us dollar
I move a hundred bucks over to strike. Okay, and then then I go where I buy my beef jerky
They they present me with the qr code
And I I pay it with my strike app and it subtracts from my us dollar balance and it converts it to bitcoin
Sends it over the lightning network to that person
I pay no transaction fees and neither do they like it's better than
Do that have a strike account?
No, they just have to have a lightning account
Do that they can receive with no kyc
They can receive with no kyc. Isn't that amazing?
Okay, do it that'll be gone by the end of this year
Oh, i'll definitely bet you there
That's what you're telling how much you bet five bucks gentleman's bet i'll bet you a bitcoin transaction fee
You you pay in like coin five bucks and i'll pay in bitcoin five or vice versa
All right, gentlemen's bet. That's fair
Fair enough by the end. I don't even think that's possible now. I guarantee it's not possible now
But I mean I use like you're a strike customer though
So they know who you are. Well, i'm I'm you know, you know how many lightning wallets I have
I have cash up. I have strike. I have blink
I have let's do this. This is a good i'm gonna download strike right now
Well, you they're gonna kyc. You got it. I've already got it. Let's see if I know I haven't let me sign up
Wait, okay. I mean, okay. Give me give me one. What's the other one?
If you want to get a very very fast non kyc. I think phoenix, right?
If you want to get a fast
I have some kyc. I have a lightning wallet. Hang on download speed wallet. Well, how about wallet satoshi?
You can't get it anymore download speed. I don't understand
Well, that was their decision to pull out there was no I have wait a minute somebody gave me 40 bucks
Lightning I have 43 dollars on wall to satoshi. What can I do with it?
Nothing. I mean, yeah, sure you you could send it like if you signed up for strike
You could send it to your strike wallet. Well, here I go. There's a cash if you want. I'm gonna trust you. Are you ready?
Give me give me a non custodial lightning wall. We're gonna do this right now
I will send you my wall of satoshi coins to you at strike and you send it back to me
Give me a non custodial, uh lightning wall right now. I can download
Well, you could send it to yourself if you got 40 bucks on I mean
I I honestly would recommend that you
You get now I want to test out strike. We're talking about a strike
I'll send it to you. You send your wallet to noshi
No, i'm asking but yeah, let's say nine custodial
One I don't have to put anything in to use lightning speed wallet
Yeah speed wall. All right speed one
Is that better than phoenix?
Like you have to you have to like fuck around with your own node or you have to use somebody else's node
And you have to mess with channels
And it's really not for like
Like non-technical people
What about what about you do what you mean is river no good rivers yeah, no river's got a good they got a good wallet
But I mean it's a custodial wallet so let's see let's see, okay speed wallet
Lightning fast transactions zero cost borderless payments
Sign in I just need an email address
All right, you can do this yep
I like that they aren't uh dialed into like my
So i'm punching it in but it's not like guessing, you know, sometimes you it starts auto filling
Like it's communicating with your phone. It didn't do that. So that's good
All right, so let's see sign in
I think I got to create an account. Hold on
Hold on. All right. Is this entertaining for anybody who's listening right now?
Yeah, i'm having fun i'm learning a lot actually all right, let's see
All right, you know, I haven't looked lately, you know, you can you can search
Name I don't want to hear my full name. Do I have to
Let's let me let me I got an idea here
Not the one people in this room. No, I got another one
I agree to the terms and conditions. All right
Let's see, you know, it's much easier
He just sent me a light coin
We have a light coin wallet send it it's what you know
No, I just download light wallet. He just send it to me. It's simple
So, yeah, it may be my email address, but okay, which is I mean it's a step
Wallet of satoshi was very simple
But also it's hang on well
You know you you got to realize wallet of satoshi is custodial so I mean they could rug pull you
Well, they did they are doing that to people right
No, I mean you can still move your funds out. So
You just can't they won't let you send anything to it anymore if you're in the us
But you can still send your funds out and matter of fact you should
Yeah, but that's that's on you I mean you could leave it in there forever they might not rug pull and
It's already on your phone, but if you dropped and broke your phone like
Are you able to get it back pretty easy
That's I tell you what this is kind of a pain in the butt but all right i'm i'm going through the steps, okay
Here we'll just send me send me like 10 satoshis ready
I'm gonna send it to you in a dm
But how do I know you're sending me via strike? This is the thing
In my chat. All right, shulsey, you guys send me a screenshot that you actually
I'm gonna i'm not taking your word for it because you didn't take my word. You think i'm making stories up
So I just dm'd you a lightning address send me 10 sets
Can I give you some distraction while you're doing this
Sure, i'm listening i'm listening to george. They're all good right now, dude
When it comes to the walter in conference
I've actually talked my wife into i'm going to be in indiana
my 40th anniversary or no
Not an aversion. Yeah, 38 that
The 40th high school reunion and we're gonna fly
To the lichen conference i'm gonna meet somebody there
I've talked my wife into going to the lichen. It's nashville, right?
Yes, i'm going from your point india nashville
Sacramento to india to nashville to
Probably vegas and then sacramento. Yes, it's a big circuit and i've talked her into doing it
Man, I guess it's gonna happen
I wasn't even gonna drive eight hours each way, but i'm going there i'm driving it
I'm up in tallito northwest ohio, bro. I got a mayor in ohio
That's crazy where's crown royal mate, that's what I want to know
Canadian whiskey is cheap
It doesn't give me a headache it doesn't matter you know why it's cheap the exchange rate, did you know that?
Yes, I did did you know that canadian silver dimes are 80 silver and
Did you know that? No, I didn't know that. Oh, I just got 10 sets. All right. Let's see the screen shit
I was here for the distraction to guess that okay. I did receive the 10
All right, so we're confirming today if shulsey can post are you gonna dm it to me shulsey?
Then we'll know it's good today and then my bet at the end of 2024 will be confirmed
Like manero's not allowed to be traded and yet they're gonna let you trade anonymously. Come on, bro
I think I think mwev's gonna might be a problem for us. I'm honest with you. I'm being paranoid
It could cause d listings we need to be prepared mentally for that
So I I don't know what you're so afraid of I I don't I don't think you should be really pushing the narrative that you can actually
hide and be anonymous like
You all have ip addresses and even though you have vpn's like
That's all still recorded too
Like every computer has a mac address and every cell phone has an ein number
And a mac address. What's the value of bitcoin?
Definitely scarcity store value
But why no, why is it a store value
So so I guess the the big question is why wouldn't the u.s
Government make it illegal if it was so bad, right? They would just make it illegal, right?
I don't know. They can't I mean they can't stop it
Well, they could stop it in the u.s
But here's what I want you to understand if you're if you're
The whole thing is like listen
There's only 21 million bitcoin it's scarce and therefore it's valuable
It neuters everything about bitcoin
Because then hey litecoin is scarce too. So equal value right four to one
So my my 12 words my private keys
If I need to walk with them, I can right same with litecoin. Yeah
No, I I don't disagree there
So what what gives it value?
I mean the the network is the biggest
If if micro strategy created a coin that was 21 million
Why would that be less valuable if you're letting micro strategy hold all of them anyway, and if you're letting the government control the mining network, then
Why couldn't the government just create a coin that's 21 million and substitute it in and you might not even know the difference
Mean have you not gained this out yourself yet? I mean I can I can go go through it, but it just feels like
You have you not figured this out yet?
If the point is you don't value the censorship resistance or the decentralization
And you're glad to just operate in these centralized entities. Then you're you're losing the value of what bitcoin is
You're diminishing its value. I mean there's a lot of narratives around crypto and crypto people like
I mean, I hear narratives in the xrp space. I hear narratives in the dogecoin space
I hear narratives in the selena spaces. So isn't I mean, I I hear narratives in the bitcoin spaces
I can't leave those guys out
I mean everybody gonna everybody's gonna have their own values
The loser rio i'm not talking about narrative what it comes down to today is
bitcoin has probably the most wallets that have ever that exist and
Has the most on and off ramps that exist
and also has the lightning network, which I value a lot and
so like if I need to send you
three million dollars in china like
There's liquidity in china to do that. Okay, so strike
So so I can mold money around the world without using the banks
And I really don't have any problems today
Now if things change and tighten up and then I do have problems
Are the but for now are the banks the problem or is the government the problem?
Uh, definitely the banks, right
So why would you why would you be encouraged by a guy?
Who wants you to give him money in deposits?
In exchange for discounted fees, so he's basically paying you're paying
He's giving you a yield right you're giving him your bitcoin
He's going to hold on to it in exchange for that. He's going to give you
You're going to gain by not paying
I'm talking about a light and a lightning node
Or it's light spark or it's microstrategies. What they're doing is they're paying you
So they can have your deposits
Which is what is a bank if you hate the banks, why are you funding a bank?
They're a bitcoin only bank
But you just said the enemy is the banks and then you're
You say jack maulers provides a good service, but he's a bank
Well, essentially he is so I guess you got me there
So why do you say he provides a good, but he's bitcoin only
He's bitcoin only but he's still a bank
Why does he know he's got his money?
Let me let me look to see if he's a bank
I think he's doing it again, man. Where does jack? I got to interrupt because I think how does jack maulers
I think he's doing it again where where he's doing that thing
Where he just drives the conversation
So it eats up our time when we could be
We could be talking about that frogs. God damn it
Where does the yield come from? Isn't that the big bitcoin thing? Where's the yield come from? How does jack maulers?
Uh for sure. See what uh, what is it that attracts you to litecoin?
You come in here every week. I I assume that you have some interest in litecoin
I mean positive, uh to say about it
Yeah, it's a proof of working
Yeah, that's what is your role here what is your role
Like what the the goal I I just come in to to listen to uh, the conversation and um
you know, I I certainly am going to step up and
give my opinion whenever I think people are
Opinions are good opinions talking about the lines information. That's not true
I don't know if there was anything that was untrue that was said
What what was untrue state state, please
You know, it was early whenever I came in I was listening to grant talk about um
Just his friend's experience
With bitcoin and how expensive it is. Nobody's ever going to use it because it's too slow
And it's too expensive and the fees are going to eat everybody
And there's too many hurdles to hop through to do anything easily
Do you have to hop through a hurdle to do stuff easily with low fees on bitcoin?
Well bitcoin is not a low fee chain
He didn't he didn't ask you that's not that's not the question
Like if you if you get a bitcoin wall first, is that the question I asked second?
What is the question I asked? No, hold on. Hold on. Okay. He's getting okay. Listen
Oh, yes, you can still do that on bitcoin. Yeah, but you were saying that what I said was a lie though
Even though you well, yeah, you're talking about you just
You're just going to cause too much
You just acknowledge bitcoin is not a low chain fee or low fee chain
And then you're saying that me saying it's high fee is a lie. So are you lying or am I lying?
I mean right now it costs uh, what a buck 20 to send
But how much ever you want to send right? Which is what I which is what my friend sent it at
But that would be a high fee chain to you. No
Yeah, 50 dollars to send it was high
And that was because he had like 40. Well, what did that last for 10 minutes of course is six years
So, of course i'm going to push back when you call it like, you know, oh this 50 dollar transaction happened like
for 10 minutes back in may
No, it happened literally
Last thursday. He was here. Go check it last thursday at
Well, send me the 11 30 in the morning. Let's see what the fees were
Last thursday and see if there was like a 40 minute block
And if the fees were 46 sats for per v-byte before that block
Go check it and see if they got the 460 over the weekend because they was at 66
40 sats per e-byte. Is that what you said? 46
Oh 46 that's not bad, right?
It was 50 dollars that warm
50 dollars. Oh, he he must have had a lot of uh, utx. Oh my god, that's the exact story i told
I know i'm entering the thing. I told you dude
So why did you have to do that during a high fee?
Environment like you could you could have cut him down to like 15 20 bucks if you would have just waited
Well, he wouldn't let your not yet. Not yet
That's your fault. No, it's it's about half where it was so it wouldn't be down there yet
The point is you talk through both sides of your mouth, bro
You you literally just in 10 seconds you went
bitcoin is not a low fee chain
And that grants a liar because he said it's a compared to dogecoin and litecoin
So pretty much what what i'm saying is you filler buster us. Okay, and it's annoying
I I enjoy it because he he's good. It's it's good fodder for me. It's it
It's good. I think he comes in you're trying to
Try to convince himself that
That that he actually does love litecoin
He's gay for litecoin. What's going on here?
I mean, why wouldn't you be?
All right, so i'm you know a huge fan of the band tool and I always tell people like i'm kind of this is one thing
Other than that nothing else not like like literally physically for them, but you know saying you got what i'm saying
No, no, I would say no, but
But you get my drip like I get all giddy for him and stuff, you know act like a teenage girl
You know, I I certainly want to come in and talk about
Fucking ordinals too and all that
and that's fair, you know, I I also think like
You know when I hear people like talking about
putting nfts on a blockchain and like doing
DRC 20s or whatever you're talking about like filling up the blockchain with data like
Again, like the question I ask is like well
Some of you probably yes your first name because these profile pics. How would they not and
All you're going to do is fill up your chain if you're not careful with with
And then soon you won't you will not be able to afford to run your own node because you'll have a blockchain the size of
You know, well what's too big for you like one terabyte two terabyte?
Like what that would require more people
two transactions on chain
It's way cheaper to buy no data than it is to pay those transaction fees
I mean again, like do you agree? Do you agree you you got to think about like the scaling of your blockchain no matter what?
I mean bitcoiners have already experienced this and
certainly i'm sharing my experience here like
They're they're coming for your chain. Hopefully it doesn't hit too hard when it hits but here's that like it's here's that like
Why don't you uh bring me into a bitcoin?
And let's have a conversation with your bitcoiners and say go in there and say look these guys
I go in there every week and they seem to have a good
They seem to be pretty fair
and uh, I think we should uh
Talk to these guys because I think there's a legitimate reason why it might be worthwhile using litecoin
Would you ever do that or do you think you'd lose your uh
Uh, no, I I would certainly do in some spaces in some spaces I wouldn't you know
I mean, I I know who's picking one out crazy maxis and who's not, you know
Well, yeah like the rational maxis
Yeah, like i'm probably one of the very few
Bitcoiners that uh to go to other spaces. I like to get perspective, you know, can I make an announcement?
I like to hear what you guys are saying though
Is it is it done are you on chicken market is that what you're about to say?
No, no, no nothing related to that. I actually was able to do a cool tech thing right now
um, I had someone merge six inscriptions into a single utxo
which if anybody is familiar with that is an absolute nightmare because it allows you to
Either not send them if you're using some wallets
Or you can't list them or if you list them you buys all six. It's just it's a horrible thing
Import the wallet into electrum and then split them
Using the offsets and so I finally was able to free up these these things which is pretty monumental
Yeah, i've got like 100 in a single utxo
And uh, I tried with electrum and you know what like it's just a tedious process
But yeah, it's pretty cool
Definitely send me your private keys
I'm I'm I'm tempted man. Like if you want to I mean obviously it's
I'm not gonna twist her arm to do it and I would do it on my own free time
But fuck it if i'm bored, I'd I was able to do it once. It was kind of fun
There's math in the like the offsets and like the padding and shit like that, which I I think I understand it but
I also also think I got lucky
Hey animal, I just thought of a better trade we can have
Well, what is it you need to mint all the tokens we were minting, you know
Okay, and then that'll be give me like, uh
I'm trying to remember the ratio half a trillion
No, and instead of the one light coin for our swap we're gonna do it's gonna be a bunch of poop token
Yeah, okay, how many do you want I don't know that's what i'm trying to figure out
I don't remember how many I originally deployed or whatever
It costs like I minted. I think uh
Was it well, I did rather a thousand mint inscriptions and that costs about 10 bucks
Which is like a thousand times 25,000, right?
And how did I how did I make originally 250 billion or something 250 billion? Yeah
All right, let's let you have 250 million so you have a thousandth of the supply
Maybe a little bit more. I think I did it twice
Underground I just want to say uh, can you guys hear me first of all? Yeah. Do you love the space?
Oh, I love this space man, but uh
I want to say that yep, I think you should be careful making tokens because
Some degenerate will come in and throw all their money into that thinking they can make quick cash and then they could blame you
Potentially so i'd be careful making tokens. No, i'm i'm working on poop token with uh, animal and uh poop token
And the toilet right garbage coin it's shit it only goes down only
That is poop token down only don't buy it if you want to make money do not buy poop token
That's financial advice fine pure financial advice. You will lose everything you put into this if you buy it
Just imagine someone tossing in like five thousand dollars into that that would be hilarious and sad
Yeah, of course, why would you do it
It's a marker of it's like, uh, you know, and uh, have you watched the I think it's the
Da Vinci code or what's the other what's the one besides da Vinci code angels and demons, right?
And in one of those movies there's a guy. I think it's da Vinci code
Like if you've read the book he's self-flagellates he's got like a
Which you know is a different meaning to what you guys are thinking of but he actually a little like beats himself and he has scars on his back and stuff
That is the spokesperson for poop token
And potentially light coin sometimes
You're like what is going on why am I so myself
Love the space. Love the coin. Love the space. I love this coin. Love the space. Is my mic on?
So let me ask you guys a question
I really come here chief is laughing. I come here just to make chief laugh every week. You realize that
Like I don't go on mine gold
Or silver, but I go to the store to mine it
I don't mind bitcoin or light coin
That's mining is hard work. I want the end product
I've never had a bitcoin or like one mining machine
mined silver I've tried mine gold but
Miners and then there are ended users and takers and I would rather just buy the finished product
Whether it's crypto or gold or silver. Does that make sense to anybody? Yeah, and everyone of mine
I just want to get the end product
Well, you it's not your forte, right? So somebody's really good at it
I would pay somebody to do it for me. Yeah, because you have a skill set that's different
Nobody, you know who would know drinking crown royal. I didn't know it paid money
Like there's girls that look good and they promote crown royal and their skill is looking good
10 to 2 to 10 whatever that
So they're gonna be more, you know
Why would you not maximize your skill set and let the people who know how to mine gold let them mine gold
In exchange for looking at pretty girls to drink crown royal, you know, that's the whole that's how money works
You put it somewhere and don't do anything with it. That's not how money works
You have to be able to use it jesus christ
It's like the transgender conversation
Is a man a man or a woman a woman or whatever like if money is not used it's not money
To just sit if you if I go in the backyard and dig a hole and throw it in there
It doesn't do anybody any good
It's not growing anything it's not promoting anything you have to use money as a tool
these are communication networks
Has told people that they shouldn't use money
The people that actually want to use the network
Are usurping the network. They're like the graffiti artists are taking over because
The people that claimed that they wanted to use this as money aren't using it
Because they don't actually see value in using bitcoin as money, which is ironic, right?
Sometimes I think the things I say at 12 30 are profound and sometimes I think I sound like a moron
Let me answer your question. All right, so good money drives away bad
I hear people say you can't use like coin if you don't use it and use it and you and adopt and everything but
I am not spinning like coin. I'm not spinning. No
It's good money drives away bad. It's gonna go away. I will not use same as silver. I will not until it's necessary
Well, you have to find that's that's where the whole anonymity thing comes in about
Mm-hmm. What's the value of light coin if you don't use it?
If you don't see value in using it what's the value of it
These are honest questions. I think we should all challenge ourselves with
Now I see value in saving it right now me personally
I don't see value in you in using it. I think a rainy day fund is a very smart thing to do
That's me I think as a substitute for cash
Is a very good thing to do
Because cash is going to go away. So be in the habit as a cash substitute
So again, I always use the example in buying something on facebook. I use a little light coin
So maybe some guy comes over he wants to paint the house or he's going to do the plumbing
Or whatever and instead of using cash i'll pay him in crypto. I think that's a very good use case for crypto
He can do whatever he wants with it. That's not my business, you know
Hey, uh scholzy, I think you might have rugs and came back
We should go you know, I've always wanted to do this let's go um bum russia good spaces
Oh, where's my I only see two up there who's got a good spaces we can go into
Anyone oh, here's animal back. Yeah, we're losing people. I think
What's up animal did you get rubbed?
We have someone in the space here with 150,000 followers who seems to be an author
You know this person is that pamela
Is that pamela yeah, I like her
Is this uh the real pamela
Pamela hensley so animal goes through and he looks at everybody in this space. I mean like he can't blame him
All right, I invited you up if you want to come up pamela, I don't know who this is but okay
Scholzy you keep getting rubbed you need to update your tech
By the way, hold on. Wait, let me check. Let me check scholzy. Did you send me the screenshot scholzy?
Where's the screenshot of this of the uh strike payment the outline again
I probably got distracted. Here you go. Yeah send put it in my dm's. I want to see it
I need proof and i'll in in reply to your proof. I will type in
I mean i'll bet you more than five dollars if you want, but
I'll bet you a light coin apes
Well, I invited pamela up she must be busy it's okay. Do you know do you talk to her ran?
Is she a big she's obviously a big uh account. What did she write?
So so back to uh the whole last
No, i'd say more is looking up now. I like what she writes. I like what she sends
Oh, no, it's fine. I'm not right
Whatever just comes up and like with light coin and
Like when it's like when it just pops up and I just log in and she probably did
And she's cool. I just kid you not guys
I shoot forward more stuff from her of the rolling stones lyric in her bio
Mm-hmm my government teacher in high school used that as an explanation of like I think economics or something
He was he was a football coach. So
Let's not get too excited about it. But
My spines teacher in junior high I hid the paddle up in the
Up in the feelings house. I feel like I was in the last week. I never get paddled at school
I wasn't I was in kindergarten and it was funny is that
Um, I went to junior high and the guy who paddled me in kindergarten was my dean at my junior high
I was like, this is fucking awkward
Oh the last spanking I got I was in ninth grade
Oh and then my junior my grade school principal was my
He signed my diploma from high school and I I did not like him
I will not mention his name, but it was bad. It was just the last year of my senior year in the same system
You guys can you guys can figure this out. Everybody can figure this out
Whatever's thrown in front of you. You can figure it out. You're going to survive
You it you can't this is why you're brought here for this moment in time. You will survive
All right. Oh, I'm not a gainer wrote an incredible inspirational song about it
Man, she's saying it better than I could
Well, try anyway, just try just to see what happens. Go ahead there and let's hear you
I was afraid go ahead. I will I will survive
Man, I will I can't sing it. Oh, all right. I was waiting for you, dude
You remember i'm gonna go to Nashville
Man, I got that worked out with the missus. Yes
Yes, two more flights, but i'm gonna make it
And it's on my 40th reunion
It's gonna work. Yes. I love it
Let me um, let me pair up the mic unless you're going to keep talking. No, no, you're good. You're good
Let's get pretty late. I think we should probably I think we should bum rush another space. It's fun. I love your space
But I will not bum mercy of this space
Uh, shawlsey, do you have a douche queen wallet by any chance?
I I do not right now. No, I was going to tip you some actually god damn it
You know, is there a better one than my doge because uh, that doesn't work so well
I guess you can use like stuff like coinbase wallet or trust wallet or something like that
I mean I have a everybody has a coinbase wallet, right? You didn't pass go if you don't have a coinbase wallet
Shawlsey did send me the I just so you know screenshot of the
Lightning so we're gonna see from strike I could see it
Oh, yeah, I think I could see it. Wait a minute. I don't see strike in there
Yeah, it's not labeled as strike. I I noticed that too, but it is
Um, it looks familiar. It looks like their font
I'll take your word for it. I personally think you're a liar
Despite the fact you think I'm a liar
Well, I didn't really say you were a liar I just said
Then what that's a liar. They were lies, but they were just like
You know, there's a good story though
Oh my god. Yes, but is there a better wallet than the my doge wallet? I mean, what do you guys use?
I use my doge wallet like for just small amounts
I mean it certainly works. Uh, I I get that i've used it before but um
I forget what happened. I was using I was changing my phone and
I was trying to get the 12 word phrase to show up and it wanted a password and
I don't know what happened. I finally just gave up
What do you mean? So I burned some doughy for you
Somewhere i've got the 12 words written down, but I didn't go dig it out. Yeah, I got words everywhere in this house
And it's a good defense mechanism, you know, but all his wallets and shit
You're just like, uh, it's just like because you want to test things out sometimes like i'm kind of curious about this you write them down
I'll stick them up on a board or there's a piece of paper somewhere
Yeah, my estates can have fun one of these days for sure
You guys have this is a good question. Do you guys have somebody you know?
That your loved ones that you're like, listen, if anything happens to me, this is who you need to call
Like that knows understands how crypto works, right? So like
wouldn't know to say okay, we need to find some c words or did he hide this or
Let me look at his emails so I can understand what apps he was using and read that type of thing, right?
You guys anybody like that in your life?
No, i've taught all my kids I do
And it's like you want your family to but you're my son-in-law is the most apt
On no read word c phrases and so it's passing not from my name
But him and he's going to be the executor because he knows it
And I wouldn't trust him. You'll trust him, right? Like
It's not that you're going to give him all the words necessarily, but just let him let people know like
Oh, yeah, he he'll know how to like unlock a ledger
So there's three people that but the son-in-law has the yeah
There's like several different keys and everybody has to get together after I go
It's not one person at all
Right now it's me, but there's a path to
Everything that there's my son-in-law has the key
My son-in-law is smart on this stuff. I know I trust him
Yeah, you have that's gonna be the best of some like that. Yeah, you have to and you gotta find
I only trust myself, but you better have another person you can trust
You should you have to have that path and
You everybody else has to figure it out
Put your keys in there and
Everybody here can do that
Everybody here has the private keys. Give me a number one. Come on
Who doesn't have the private keys? No
All right. I'll give you the first word. Are you ready?
Yeah, you'll never find mine
Yeah, we're we're all solitude applesauce it's applesauce, just trust me I love this face
Jesus christ. All right. Well, I think uh
It's getting late. It's getting late. I do. I I just was trying i'm reaching out to uh
Get another space going who wants to do a space unrecorded
I would but I gotta go to bed, man
Who was gonna send me a tip? I I forgot. I do have the coinbase wallet. Have you guys ever used the coinbase wallet yet?
I forgot I had that that's that's pretty new
Uh, i'm opinion though, which you can hit me up in dms with your address. I'll send you some
Cool thanks, man. Yeah, now go forth and tell the bitcoin people dutch coin is great
You know, you're not going to get very far with that but
I I understand your sentiment. I I will do my best. All right
All right, well, I love you guys especially you shulsey
I love you guys, man. Again. I might have a long break here. I don't know
I don't know that i'll be back until the halving
Maybe I doubt it. I got a lot of shit i'm doing the next few weeks
Who knows but I got this thing. I'll probably show up. All right, everybody get a substitute teacher though while you're gone
You know what i've learned is that there is no substitute for me shulsey
No one can hold my uh jock strap at the hosting no, I wish somebody would I would like to see more spaces
And I think if I go away for a while, maybe people will show up maybe people will start creating their own, you know
Yeah, for sure. They just wait for me to do it. So i'm not doing anything likely you are
I'm gonna go seek out other spaces because i'm sitting here with a drink and i'll find something fun to do
So if you want to follow me you can everybody have a good day. Good night. Talk to you. All right guys. Goodbye