Welcome back, everyone. It is the weekend edition.
We're simply Bitcoin. I'm back in my home studio.
We break down the news. The daily fail mean review,
software releases, Hardware, releases and the pleb sites.
All right, Nico. You know where we're going,
we're diving into the numbers, let's do it.
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novel dot EU at the time of this recording, the block height is
745,000 a 138 the Bitcoin price 20,000 795 chain rewrite days.
870 total public lightning capacity 4260 dot eighteen
Moscow, time forty eight oh nine blocks to The Happening 94,000
861 it just changed and the samurai Whirlpool unspent
capacity Samurai Whirlpool is a coiner collaborative.
Spend it is not the mixing service and the unspent capacity
from that pool is 4860 4.70 Nico.
Those are the numbers and I just want to say for Bitcoin being
dead. 4260 BTC on the sorry, on public nodes.
I mean, we went up over 100 BTC in the last, I'd say week and a
half. So that's some pretty decent
signal. I'm pleased with that at least
not everything's going down right at least.
There is some some positive numbers.
Inflation is going up. We got the numbers in a couple
of days ago, that's also going up.
You go the grass is greener on the other side you just have to
ignore everything. I'm very glad You brought up the
inflation point, right? Because we always hear from
these, you know, these bureaucrats how much they care
about inflation, you know, they, you know, they wheel out Joe
Biden and he goes out and he says, listen, you know, that
inflation is my main priority. But I don't think that's true.
Let's play this video and we'll talk why we are following
breaking news here at the live desk coming in.
Just out of the nation's capital, the US announcing a new
one point seven billion dollars in Aid to help Ukraine
specifically to help pay healthcare workers, still trying
to treat patients even after hospitals have been bombed or
closed because of Russia's Invasion.
The money is strictly for humanitarian purposes.
Coming from the US agency for International Development, the
treasury Department and the Bank.
Just last week, the u.s. announced it was sending four
hundred million dollars in military equipment to Ukraine as
well. We are false So here's the
inflation rate highest it's been and 40 years.
Have we actually talked about this in an earlier show like two
or three episodes ago. So I'm not going to bring it up
but basically last time the US was in this position, the US
actually had the power to raise those, you know, those interest
rates. Now not so much.
So dude why my Republic Vibes we care about inflation?
But we're sending 1.7 billion to you, this is on top of the
fucking money that they set prior mind.
You, they left 80 billion and Afghanistan, but they care about
inflation. I don't believe them.
That's my two cents. It's me go.
It's gaslighting but hold on a second.
We're weren't we talking about a number like last week, wasn't
there a number 40 billion floating around?
Yeah, well so so I don't understand.
So so we printed 40 billion in Aid and then we added 1.7.
Like, how is that what's fixing issues like how to pay for the
health care of ukrainians? While over here people can't pay
for gas and inflation as at 9% Ain't So when I don't care
democrat or republican but like when they roll out a politician
to say inflation is our top priority and then they're doing
shit like that. Where's that money coming from?
They don't have the US. The government spends more money
every year than it collects an income tax.
Okay. So where's that money coming
from? They have to print it.
When you print more money, you add more money to the money
supply that causes more. Inflation.
So what the fuck is going on? Excuse my language.
But like, I don't understand, I don't get it.
This is clown World. Why my Republic Vibes?
I'm happy. My money isn't something that
can't be debased. I'm happy that my wealth.
My energy. My work is in Bitcoin and not
the fucking government shit coin called.
The US dollar that is absolute Insanity.
Total clown world to me? What do you think Phil?
Yeah I feel like I'm just watching a show about
Gaslighting that. That's that's really what I feel
like because it's exactly what you just said is perfect and it
makes absolutely no sense. So, you're sitting there you're
looking at the the condition of the country, right?
Not picking on any particular States or anything like that, or
any political leanings, right? You look at the condition of the
country and you say to yourself, why the hell, are we not?
Like look if we're gonna sit there and debase the currency,
if we're going to sit there and and essentially just Make
everybody poor to make it to explain it simply if we're going
to do this, why don't we just keep the money here and actually
help people? Because that's not what this is
about. That's not what this is about at
all, the government. I'm sorry to say this, you know,
I'm sure that everybody already knows.
Government doesn't give a shit about you, then give a shit
about me doesn't give a shit about any of this.
Okay. What it needs to do is maintain
its moat, okay? And to me when I see inflation
like this, like it depends on What narrative you're talking
about? Because I have heard the
narrative that other countries are essentially attacking the US
dollar. And so the value of the USD is
going up against is going higher against other currencies.
So as a result as a result, the u.s. is trying to print more in
order to help lower the strength of the u.s. dollar.
Now look, I don't i-i'm sorry like I can't really, I can't do
the mental gymnastics. Fix that.
It takes to even pretend to agree or validate if that's true
or not. Okay, but what I do know is this
since 1971, our purchasing power has dropped exponentially in the
last two years, the government has printed 70% of all of the
dollars in existence. We've also experienced some of
the highest inflation in the last.
What is it in the last 30 years? Years, 40 years.
So I gotta say, I don't know what those other stories are but
they're not the it's not fitting The Narrative, it's not actually
working. Like I know that from the
corporate owned media were getting this information but it
doesn't actually match reality. So this is why I say that.
They're gaslighting us because nothing that is being said is
actually matching reality anyways.
That's yeah. That that that's a horrible.
Really just terrible stuff my dude.
Yeah. I think you hit every on the
Sorry about that. I think you hit the nail on the
head, dude. It's total gaslighting.
It's lies. And remember, 1971.
What you said? Richard Nixon took us off the
gold standard to keep paying for the war in Vietnam, right?
So, it's like, dude, it's like fuck these wars, man, because
that's what the Fiat, listen. No, individual or country or
whatever should have the power to create money out of thin air.
I think. I think there's very bad
consequences. Uses when that happens and I
think we're living through it. Right?
Whether that's the world economic Forum as an
institution, whether it's the US war machine right?
Whether it's constantly bailing out the big Banks fucking over,
you know, Main Street, like dude this system needs to end and I
think Bitcoins going to play a key role in that but anyway so
it's time for oh go ahead. I'm sorry I just wanted to add
one point before we move to the next thing.
If the government if the government has the peoples and
had the people's support, For these wars.
Why do they have to print the money without the people's
support and validation? Well, that's exactly the point.
It's not, that's the magic of it.
They don't have to tell. It's like what Milton Friedman
has to have support. They don't.
Yep. Milton Friedman has the best
thing. It's like this is the this is
the in the hidden tax because it's a tax that you don't agree
to. It's just a just printing.
They're like oh it's inflation. I don't know what's going on.
It's like dude you cost if my friending too much money Like
it's insane bro. It's insane.
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cloaks.com. So we always tell you in the
show, Bitcoin is going to be attacked by two methods, right?
The right to self custody, they're going to get to that.
But what they're really focusing on right now is Bitcoin and it
using too much energy, right? Of course they don't get into
the Nuance but but they do have the corporate media machine
behind them. I'm going to show you the
collusion, the collaboration, this This is not a coincidence
guys. Okay like it wasn't a
coincidence that as soon as Elizabeth Warren or sorry.
As soon as the New York Times reported that Bitcoin might
potentially be used by Russia to money laundering.
Even though the treasury said the exact opposite Elizabeth
Warren came out of her cave and said the same thing the next day
that is not a coincidence. And you know what?
It just happened again. Elizabeth Warren does not care
about sanctions. Elizabeth Warren, does not care
about the Environment. Those are just very convenient
ways to attack Bitcoin. Why?
Because they cannot control it. Anyways, let's check out this
collusion and PBS NewsHour. Bitcoin requires an immense
amount of energy. Here's why that's sparking a
crypto backlash. Next one, New York Times the
paper of record crypto mining capacity and u.s.
Rivals energy use of Houston finding show.
We have covered this many times right fit Coin mining uses my
energy. That was stranded energy.
That was not being used. If it was being used it would be
too expensive. If, for example, houses in
Houston and houses and and the the mind we're competing for the
same power, it would be too expensive for Bitcoin miners,
Bitcoin, miners go towards cheap electricity.
That's where it s economical to mine.
Bitcoin course. That's not mentioned in this
article because this article is not about telling the truth.
It's about power. Anyways, moving on seven of the
largest Bitcoin, mining companies in the United States
are set up to use nearly as much electricity as the homes in
Houston. You check out that first
segment, the Bitcoin minds are set up to use as much
electricity as homes in Houston. That's what they're set up for.
That's their purpose that's her opening line.
According to data, disclosed, Friday, as part of an
investigation by Congressional Democrats who say minors should
be required to report their energy, use the United States
has seen an influx of cryptocurrency.
Shhoo use powerful energy, intensive, commuter computers to
create and track the virtual currencies after China.
Crackdown on the practice last year.
I'll give you guys just my own opinion.
Maybe you disagree disagree, when the Chinese Communist party
is doing one thing. And the United States is doing
the opposite. That's usually a good thing.
I don't want to follow the Chinese Communist as much as
Charlie Munger would like that, anyways, Democrats led by
Senators. Elizabeth Warren are also
calling for the companies to report their emissions of carbon
dioxide. The greenhouse gas.
That is the main driver of climate change, this limited
data alone, reveals that crypto miners are large energy users
that account for a significant rapidly growing.
Amount of carbon emissions said Warren and five other members of
Congress wrote in a letter to the heads of the EPA and
Department of energy. That's why the Supreme course
case that we reported on last week.
West Virginia versus the EPA was so Monumental because the
Supreme Court ruled in favor of the state's getting to, Wait
what their energy policy and what their energy policy is not
and it takes away power from the federal government like
Elizabeth Warren to Central plan and say hey you guys are not
entitled to use energy. The way that you see fit US
Government. Bureaucrats are going to get to
decide that for you. That's always been a recipe for
disaster added to the strain on the power grids and state like
Texas again the narrative, remember the first line right?
Bitcoin mining is competing for energy that these Houston homes
are saying now they're making the False claim that is adding a
strain on the power grid in Texas.
We reported a Bloomberg article, you don't have to take our word
for it. A couple, it was actually like
either yesterday's episode of the episode before we told you
guys, what did the Bitcoin miners?
Do when Texas needed more energy because they decided to invest
in renewable energies like like when meals like like the wind
turbines that accounts for 7% of enter of Texas's energy capacity
but the wind turbines were only Lee producing eight percent,
eight percent of their total energy capacity, why?
Because wind doesn't blow 24/7 same as the sun.
It's not that I have anything against renewable energies.
I love Hydro hydros working all the time.
It's that you can't pitch the public about these renewable
energy sources and not talk about the potential cons, right?
It's all Pros but it's no cons. Look at Germany, Germany had to,
they were forced to turn on their coal plants again.
There were forced to Claire, that natural gas and nuclear
energy is green. So again, it's cheap virtue
signaling that has real-world consequences.
It's not a coincidence that New York, California and Germany,
have some of the highest electricity prices and their
respective countries compared to a state like Texas.
That's cheaper, electricity prices.
So the middle and lower classes, right are actually playing less
than they were in California and New York and Germany.
Anyways, that process a complex A complex game using power and
power. Hungry computers.
Again, the framing power-hungry commuters is highly and
energy-intensive. They have to tell you twice that
it's energy-intensive. Not once twice, power-hungry
computers higher energy, intensive, like this is total
framing. This is bullshit.
So it goes on to say right about different, different mining
operations, right about its potential air, pollution about
why aren't Why isn't the banking sector held to the same?
Regulations as Bitcoin mining. Why is Bitcoin mining different?
You would like to do know because Bitcoin is energy
intensive. So is the banking sector, why?
Because they want to get to decide what energy uses energy
uses. Okay?
And what is not? Okay.
And here's the thing guys, it's not about energy use and the
Norway example is always the best example, we covered this.
When it came out back in May Bitcoin mining and Norway gets
the green light as the proposed band rejected.
Let's check out who was trying to do it the proposed.
The proposal to ban mining in Norway was first suggested in
March. This year, by the red party
Norway's Communist party. In this week's vote, The
Proposal is overturned. As only Norway's left-leaning
parties, including the Socialist left party, the red party, and
the green party would support a ban on cryptocurrency mining.
Now here's the key guys. Here's the signal Norway now.
Contributes as much as 1% to the global Bitcoin hash rate here.
It is taking advantage of 100% renewable energy.
In the land of the Midnight Sun. So even in Norway, even in
Norway, where 100% of Bitcoin miners are powered by renewable
energy, they still wanted to ban it.
What's going on here? You think?
Oh, that's just a New York Times article.
It's no big deal. They're not giving up because of
course, they're not going to give up because it's about power
and control. Here's a new letter to the EPA
to the Department of energy. Elizabeth Warren, says, 80
million tons of carbon dioxide emissions.
Here are some of the the Senators Rasheeda Talib Jeffrey,
a mer clerkly, Jared, Huffman Elizabeth, Warren Sheldon,
Whitehouse Edward, Markey, Jared Huffman actually got into a bout
with us on Twitter when we call them out on his bullshit.
So and he retweeted simply Bitcoin, he called us crazy,
toxic Maxie's. We take a lot of pride in that.
But listen, couple couple things that I want to mention.
They're not going to let up and make no mistake.
It's not about the environment. The Norway example is a great
example of that and another observation that I want to make.
First of all, I want to preface this simply Bitcoin is a
political. We do not believe that Bitcoin
is a political technology. We believe that Bitcoin is for
everybody, Bitcoin helps the unbanked, it's the most
inclusive money, the world has ever seen, but why is it that
the left-wing parties all around the world, whether it's Norway.
Whether it's China, whether it's in the United States, they are
the main attackers of Bitcoin. I thought you guys were for the
little guy. What is going on here?
Why are you attacking the most inclusive money?
The world has ever seen? That helps people that don't
have bank accounts. Helps people that live in hyper
inflating countries helps refugees crossed the border and
take their wealth with them. Why are you guys attacking
Bitcoin mining? What is Going on here.
It's the left-wing parties in Europe, the left-wing parties
and Norway. The left-wing party off.
There's only one party in China and the left-wing party in in
the United States. Now it's not black and white.
There are plenty of Democrats that support Bitcoin but you
cannot deny that the people that are fighting Bitcoin, the most
have come from a certain political ideology and I do not
believe that it's a good idea that Bitcoin becomes a partisan
issue because it's not It helps everybody.
So I'm calling bullshit. Elizabeth Warren.
You don't give a flying. Fuck about the Russian
sanctions. You don't care about the
environment. When it comes to this, you are
attacking it because you can't control Bitcoin.
That's what this is about. That's what it's always been
about and shame on you because you're willing to destroy
something that helps billions of people.
Look at the examples that we talked about Cubans having
access to the Global Financial Anshel system through Bitcoin.
What about the Afghan? He's when the United States
decided to shut off the F Afghan from the from the financial
system. When Western Union pulled out,
Bitcoin was there and that is what you're attacking.
Elizabeth Warren, that is what you're doing.
You're a fraud. Anyways, Phil It's gonna be
tough to follow that up. I gotta be honest with you I was
that was fired. Look, I think I'm going to take
a different, a different spin on this.
Look, it's incredibly disingenuous that we have
politicians that attack Bitcoins energy use but at the same time,
the same politicians aren't going and figuring out what the
environmental impact is of all of this plastic crap that is
produced. Okay.
There's that piece of it. The other piece is You know, if
you go take a look at the companies that contributed to
Elizabeth Warren in 2020. There's, you know, if you look
at the top 20 contributors IBM, is on that list.
Now, don't get me wrong, but IBM has produced a lot of computers
throughout the years. They have used a lot of plastic.
Okay, a lot of it. And it's interesting that in no
way shape or form, does she questioned and, and not even
just heard but that anybody, why is nobody questioning IBM?
Why is nobody? D questioning AT&T, for laying
down, all of the cable. All the fiber.
What's that cost? What are you talking about?
It enables. It enables communication.
Well, guess what? Bitcoin enables sound money for
everyone. So, it actually has.
And again, this goes back to something, which I totally do
not remember who it was that said this, but it has to do
with. Do you think that that Bitcoin?
Is the energy that's wasted. Is it valuable, right?
Is it valuable that the energy that is being used is being used
for Bitcoin now? If you value sound money, if you
value censorship resistance, okay?
If you value these things then yes Bitcoin is worthwhile and
you know something else it's fantastic because the
politicians are saying one thing.
Certain politicians are saying one thing painting Bitcoin as an
enemy. Unfortunately, for them Bitcoin
is transparent and doesn't have a head that you can chop off.
So as a result, It doesn't matter that they see that they
say all these things because in the end, we're seeing what the
truth is. And we're seeing what reality is
and the reality is this, anybody anybody can opt into Bitcoin or
opt-out a Bitcoin. It's exactly what you said,
Nico, the most inclusive Financial technology that that
mankind has ever seen. So how much is that worth?
I bet you that's worth a lot to people who don't have access to
good money. I bet you that's worth a lot to
the unbanked. How many people got wallets in
El, Salvador within the first three months?
What was that they had like over 1.6 million wallets?
I think, dude, that case very mean is more Bitcoin wallets.
In El Salvador, there is bank accounts, bank account, the
banking go system. Had a 50 year Head Start like
and there's a reason for that all the fucking red tape.
Okay. Bitcoin you download a wallet,
you're good to go. The bureaucracy is the problem
and people like Elizabeth Warren are frauds because they aren't
for the little guy what they're about is power and control.
And you know what? There's people on both sides
that are like that, but dude, this pattern is fucking
troubling. I hope it ends and I think that
the way that you fight back against these people, is you
expose them and you call them out on their bullshit.
And you, dude, you can't deny this.
Like, this is undeniable Phil. Remember in the very beginning.
When we first started covering this, dude.
Like, like eight months ago, I was like I dude, I'm starting to
pick up a pattern. We I would say this off are to
you. I was like, I'm starting to pick
up a pattern but I don't know. Maybe I'm crazy dude.
Why is it only coming from one side?
I don't understand it. I don't get it.
Tinfoil hat time. Okay, here we go.
So now we're going to now we're going to speculate even though
we say we never speculate my speculation is this they're
going to convince these politicians that are for this
crap, okay? They are going to convince
whoever it is that they're going to convince whatever States,
they're going to convince and it's going to be funny because
what's going to happen is that all of these states are going to
quote unquote, use less energy but they're also going to be
able to produce dude less energy.
So what it's going to do is it's going to cause a cascading
effect where they say you now have to use less energy because
less energy is being produced and the grid can handle his
money. It's already a religious man,
it's already happening. Check out these comments from
the New York Times article, bro. It is the most depressing shit
I've ever seen. Check this out.
So it's already happening, right?
Okay, to be fair. There's a lot of bitcoiners in
this comments and it wasn't like this the first time I checked,
but so awesome. Fuck, yeah, we're fighting back.
So let's check, let's take a look at these.
Shouldn't these libertarian clowns, develop their own power
Network first. That's exactly what we're doing.
Clown next one thank goodness for Senator Warren.
One of the few leaders paying attention to what is happening
in the world. Whenever a problem pops up, our
dear leader, Senator Warren has a plan to get ready to go if
crypto miners want to In you to operate.
This should be required. They should be required.
Ah next one electricity is a basic service that all US
citizens need until we transition.
Fully from fossil fuels, to Renewables our energy production
contributes to climate change, which is costing billions, think
California, wildfires and Texas floods.
Bitcoin mining is not a service that has a benefit to society.
Sounds like you got Financial privilege practical realities.
Anyways. So yeah, dude it like when I
read comments like that, Phil Honestly, it's so depressing
because people buy into that propaganda, they have no idea
about the effects and they just say, oh, climate climate climate
climate and they just buy into it.
Are we denying climate change or we saying that?
There isn't pollution, I live near the ocean.
In Miami, right, dude. There's a ton of garbage in the
ocean so I care about it. I hope that gets cleaned up.
What we don't agree in is creating a bigger government
bureaucracy because that has never been able to solve
problems. That's the thing, right?
So anyways, my two cents Phil. It's time for it.
Well, the daily fail brought to you by Swan.
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The link is down below. All right, I know that there's
so many people that have been waiting for updates, right?
We we did Video on the, the eith roadmap to, to eith 2.0 that
involve the merge, the Splurge, The Purge.
And all of this wonderful rhyming stuff that they love to
have in fantasy Unicorn Land. Well fret, not because guess
what, etherium devs pencil in. They didn't pain it in, they
didn't make it, they didn't guarantee it, they penciled it.
And so you could erase it, but they penciled in the September
date for the merge. That's right, not the purge, but
the merge. So here we go.
Come September, 19th. The network is expected to merge
from its current state as a proof of work.
Blockchain. And here we go.
Niko, this is some of your favorite, your favorite rhetoric
to an energy-efficient proof of stake network, of course, right?
Because they want to remind you, this is not just going to be
ultrasound money, but it's also going to be ultra clean.
It does it. All it does everything.
This merge timeline isn't final, of course not, but it's
extremely exciting to see it coming together.
Tweeted Beacon chain, Community manager, super phys.org with,
please regard this as a planning timeline and look out for
official announcements. That's right, all of you who
have your thirty three billion dollars locked into a shit
chain. That doesn't move.
And doesn't do anything fret. Not soon.
You may or may not have access to it.
We're not sure but we're excited.
The sales rhetoric is just absolutely brutal.
The beacon chain is the proof of stake version of aetherium.
Currently running in parallel, to the proof of work based main
meth. I'm gonna just add in something
here. It's not actually running.
It doesn't actually do anything. It just has a whole bunch of bag
holders with their eith locked into it waiting for something to
happen so it isn't actually doing anything anyways.
It launched in December 2020, marking the beginning of the
Multistage upgrade. Superf is included.
A more detailed outline of the next steps.
Including a final trial on the last aetherium test, net
Gourley. And here we go.
This is a tweet from Sasol da teeth, another, another great
eith shill account that I always end up going back and forth with
because he's terrible. Here we go.
Gourley the last public test net to run through the merge,
transition should do so around, August 11th.
Okay. So keep all these dates in your
mind, August. 11th is when it goes through the test net by
September 19th. We should have good news.
Anyways, it's fantastic when the goalpost don't actually exist
and that's exactly what they're showing.
So here we go, the merge and aetherium 2.0 instead of minors.
Here we go, instead of miners around the world confirming
transactions and minting new blocks.
So called validators will do the same a validator, at least in
the etherium network refers to an entity that has deposited.
A minimum of 32 aetherium to the beacon chain.
Or that kind of, that kind of sounds like a top-down
structure. That kind of sounds like the the
people who can afford to enter the system and maintain the
system get to do it and everyone else just gets to pound sand.
And a lot of times, well, what I've seen from each Jill's is
they'll say, well, you know, you could have bought those e 3
years ago and then that, you know, those 32 wouldn't have
costed you so much. That is some typical BS, there
will always be 21 million Bitcoins, okay?
That is the most that there will ever be.
And guess what? You can go and buy Bitcoin
anytime if you so choose. And guess what?
Regardless of how much Bitcoin You by regardless of how much
Bitcoin I buy. We both have the exact same
power on the network. Exact same power not here
though. Not when you not not, when you
want to be an eat, validator and you need to have at least 32
eith. What that does is it creates a
moat and it creates a barrier to entry because etherium has a
tiered system and they're making sure that the worker bees are
going to stay right down there. This is.
Anyways, to me all this just looks like a pyramid.
Okay. Alright let's wrap this one up.
The steak. The steak Keeps The Entity
economically aligned to continue diligently.
Verifying transactions. If they don't some of that
deposit can be taken away from them.
What? So so if your quote-unquote not
validating correctly, daddy etherium is going to come and
take away some of your deposit. This is this is just weird and
stupid. Anyways, conversely, if they
continue to maintain high uptime and prevent fraudulent activity,
validators can earn additional etherium for their services.
Wow, that's pretty amazing. Anyways, I you know what,
honestly, this is just such a load of crap, people have no
idea what they're in for when this if it actually makes it to
proof of stake. I'm not really sure if it does.
But all I'm seeing here is a kantian effect and I'm seeing a
top down pyramid structure, okay?
Where there are the the devs and you've got people like vitalic
and Joe, Lubin and us very small group of people.
That are all the way at the top, controlling everything.
And then you have a substructure of these quote-unquote aetherium
validators that are kept in. Check this is I'm tired.
This is not going to end well for anyone.
Anyways, Nico before I dive into the next piece of the fail.
I just wanted to give everybody an update as to, you know where
where and when the merge splurge and virgin Purge was going to
happen. Sorry about that.
It's really, really scary stuff man.
It's A lot of people haven't woken up to that thinking that
it's going to end differently as naive.
Right? Proof of work was The
Innovation. It's what ensures rules without
rulers, right? That sounds like rules with
rulers and you know, so we can catch mint and punishments and
governance and government, right?
So think it's going to end differently, there is no doubt
in my mind that this will be captured by government
eventually. Um like it's just it's
inevitable and he's already setting it up.
Where you know these shit coins need to justify their existence,
right? Because like what is the reason
for existing if it doesn't do something better than Bitcoin,
right? So clearly they're taking the
energy efficient narrative, right?
And we already know that they're pushing that hard in the
cleaning up, crypto community and in front of Congress, right?
They had a professor who was close to the metallic and guess
what? He was pushing proof of stake.
Right. Coincidentally, right so yeah,
this is a, we have to, we have to get ahead of this clearly.
Elizabeth Warren is working. Hard to capture the narrative
and you saw in those comments in the New York Times article,
she's obviously successfully convince some people, but to
give bitcoiners credit, we definitely had a couple base
Pleasant there. Fighting the good fight.
Anyways, this is my two cents to SATs, better said to SATs.
That's right, the two sats are worth more than two cents, Nico.
And and to go back to something that you said, they specifically
put at the top of the article that they are moving to energy
as you were saying, Energy Efficiency, Isn't proof of stake
by the way. This is what the before we move
to the next fail. I just want to mention one point
you ever noticed how they never have any actual numbers for this
Energy Efficiency. Like it's very interesting
bitcoiners and and Bitcoin miners have to produce so much
data to prove what they're doing and yet these shit coiners don't
have to prove a damn thing. All they gotta do is play
buzzword Bingo right to just put in the buzzwords.
It all looks good, the unicorns. You know, and then we're happy.
This is anyways. These are mental gymnastics and
we're just surrounded, we're just surrounded by enemies.
Anyways, speaking of enemies, Nico, guess what?
For the people who thought that the bull the you know that the
Bull Run was over. There's some more shit coining
on the way and there is some new shit coining Nico.
There is some new shit coining to lure in some noobs and fleece
them, all right? And we're going to dive into it
right now. Let me ask you something, what
has been missing from defy Nico and it's okay.
If you don't know because I don't know either, because we
will find out what's been no idea.
I don't know, I have no fucking idea.
Let's take a look. What's been missing?
All right, we got we got tagged by at ziltoid xgf.
I obviously I'm not going to read that because I know what,
but all right, here we go, here we go, let's take a look.
He tagged Us in this tweet from a Julian gay.
Let's go take a look at this. Okay, looks like he's building
the at preda at cred underscore protocol.
Previously CEO of zendo. Imagine The Future, make it
happen. Oh, that sounds so good.
Right? Just gives me the warm and
fuzzies. Yeah, I want the future to be
beautiful. Give me the unicorns.
I love the unicorns. All right, let's take A look at
this over the last few months we've been working to build one
of the first credit scores for defy, oh that's what we've been
missing credit scoring on something that doesn't exist and
doesn't do anything. Of course today, we're excited
to share the results of our first credit score with the
world. Read below.
Let's take a look at this. Our mission is to bring defy
lending to 1 billion people. We believe that defy will one
day provide access to financial resources to anyone with an
internet connection. One of the main reasons
quantification of risk is so important is that without it,
defy lending has to remain heavily and in this is the key
Niko heavily over collateralized which means inaccessible, well,
that sounds like that sounds a little bit more like some
bullshit because when you over collateralized loans, if you ask
me and I may be wrong. But I believe that that
increases the Security. Does it not because there's more
money backing it? So it sounds like we want to go
the other way on this one. Anyways, anyways, moving on.
Let's go take a look at the cred protocol for a second.
It's a decentralized credit scoring and it's expanding
access to defy. Well, that's fantastic.
Let's go to their website and see what their see what they're
selling us. Here we go, here we go.
So the decentralized credit scoring expanding access to defy
lending. Alright, great.
Great to keep saying that but we don't know why credit is a
decentralized credit. Or a financial primitive or at
least they have one word in there.
That actually is accurate. It is primitive that enables
here's the buzzword Bingo web three smart contracts to make
better risk-based decisions boom.
We've got smart contracts, we've got web three, we've got defy.
This is going to be good. Okay, defy loans are over
collateralized, go over, collateralized up to eight
hundred percent making them unusable by regular people.
That's right. People that were getting fleeced
in the last Market. All those regular people?
Nah, they were using it. That's not what's happening at
all. We're gonna fix that for you.
We're going to add more risk and make it so that anybody can get
fleeced even faster. Anyways by quantifying borrowing
risks. We're enabling access to loans
that make a difference. Now, I just want to bring
people's attention to Freddie, Mac and Fannie, Mae and
specifically Moody's Moody's is a rating.
CC button paid for by the highest bidder.
There's no way that this can happen to this centralized
entity. Okay guys, there's no way that
this can happen. I just want you to keep that in
mind. All right, so let's go take a
look very quickly at the cred protocol.
Decentralized credit scoring. Okay, let's take a look and this
is where this is where you're supposed to get excited under
collateralized consumer lending is a for Trillion dollar market.
It's not happening in defy. Yet the missing components is
the quantification of risk at scale.
Aka the credit score. That's what we're building at
cred protocol. That's right guys.
We need more insecurity in that Network.
We need to be able to rug pull you a little bit faster, okay?
And it's fantastic, that they're going to bring these under
collateralized sorry that they're gonna bring under
collateralized consumer Lending. Adding to this four trillion
dollar market. Now, with that supposed to do,
is it supposed to make you feel really good, the possibilities
boy, I'd like to get my piece of that four trillion dollar
market. Well, let's take a look because
they essentially, they claim that this hasn't happened in
defy yet. There hasn't been this consumer
lending, but wait, let's go take a look at the wrecked,
leaderboard. The wrecked leader board
consists of 96 projects that God that were rug pull.
Thing and that were effectively lending, it's insane.
And if we take a look, one of the one of the projects, one of
the projects that they tout is compound, compound is number 6
on the list and rug pulled for 147 million dollars back in
2021. So to state that this bullshit
hasn't happened yet, it has okay, it's already been there.
It's already been rug pulling. Even though the loans are over
collateralized, it doesn't mean anything.
Oh, okay. It means absolutely nothing and
I just wanted to remind everything.
I just want to remind everyone of this here, lies the names of
some of the defy protocols that have fallen victim to attack
exploit or Arbitrage. This list is not complete and it
never will be. So, I want you guys to think
about this, when you think about a stupid project that offers
quote, unquote, defy, credit scores, really what this is
going to do is offer a pass to scam.
Worse to be allowed to run. Pull you and say hey we had a
very low score. You should have known the risks.
That that's what I see. So look I just think that this
is a complete load of crap. I can't believe that people are
going to fall for this. Let's let's just go back through
it, guys. We had the ico's.
Okay. We had, we had the IE OHS.
Okay, which were the exchange offerings.
Okay, we had defy, we've been FTS now.
We have another layer on top of that for credit scoring these
crappy defy. Don't fall for this shit, okay?
These people aren't going to offer any level of security in
any way, shape, or form a credit score to a scam, doesn't matter.
Okay, never forget all of the projects that we've gone through
and we showed you. Some of them were audited
audited by quote-unquote, trusted Auditors, like sir, tick
Quan stamp Peck Shield. It doesn't matter.
It makes no difference when you ever want your money's gone.
It's gone. Gone.
So anyways. Thank you very, very much
deltoid for tagging Us in this. I think that this is just going
to be another rug pull and I can't wait to see the quote
unquote shit coin projects that get a credit score and then we
end up reading about them in the fail.
Three weeks later. When they've rug pulled Nico.
Any thoughts on this? New innovation dude, spot on
fucking it's just it's just seen garbage over and over again.
There is no innovation. And it's all centralized
garbage. All these shit coins are just
designed to redistribute wealth. Take money, take your money and
Rich the founders. A lot of these rug pools are
even by the founders themselves. Right that what, what a
convenient way to get out of that, right?
So yeah, it's just it doesn't surprise me and it's what you
said in the beginning. That's so funny.
Like we thought they covered every angle know.
But now you need credit scores for your creds, right?
And I know how much you like Craig's fill so no man.
It's just, it's just total total clown World, bro, but it's good
that we keep exposing them. We keep like, whether it's the
climate stuff, whether it's the shit coins, you just have to
shine a light of Truth on this. Just expose it and you know,
hope as many people as possible. Wake up.
We've been getting a lot of a lot of positive comments lately.
Feel, you know, especially now that the bear Market hits, you
know? So yeah, we're going to keep
doing us man and I know we're going to get a lot more hate,
especially, you know, when a lot of these girl, a lot of these
people. Their business is a scam other
people. We're very inconvenient.
We're toxic plebs bro. Remember we're toxic pledge to
them because we're calling out their bullshit.
Anyways dude we even got plant we even got blocked by Plan B,
bro. Because we sided with Corey
right from the beginning. You know, we didn't know what
the fuck was going on, but we trust and Corey and Lord that 99
percent variance we go. We just don't understand it
because we just don't, we're not talented enough, but I just
wanted to make another point about the credit score thing.
Member this. Okay, I always thought we always
talk about the partnership parade.
The technology trap, this is validation by association, okay?
And that's what that is. Hey, look look guys, you don't
need to worry because we're going to offer you a credit
score and and then when you look at that you'll know how risky
the project is like you couldn't tell that a scam was risky to
begin with. Anyways I just yeah man this is
garbage and we keep it. Closing it.
Yep, it's garbage. And we're going to keep calling
out the bullshit but anyways Phil it's time for the Daily
Mirror of you brought to you by Citadel 21.
It's the best. Bitcoin cultural scene is
stories articles Comics but actual bitcoiners artwork for
volume 12. This is artwork for volume 11 is
the artwork for volume to volunteer is almost sold out
because there's only a thousand physical copies made per volume.
Guys, get your prints are collectors items of pseudo 21
today before they run out. All right?
Buddy, welcome to the Daily. Bitcoin mean review review
Bitcoin memes, they play an essential role on this narrative
trench warfare and Bitcoin culture.
They're awesome. Let's get to the memes first
meme by t.k. toxic at. Let's check it out.
I have no desires to fit in. No plans to walk the crowd.
I have my own mind, heart, and soul.
I follow the truth. Not the media, and devil
worshippers. And okay, I like that.
Like that. It's funny.
Well done, very well done. All right.
By Rasmus you are here paying taxes to Pedal?
To stay out of a cage. Well, they bombed children.
Destroy your savings collapsed economy and and blame it on you.
I love the bread in the blue because again, right the
political parties man. Does it matter who's in power?
They just print money, they don't care.
And then they're like, oh, it's the Democrats if you vote Us in
will fix everything and then the Democrats get empowered.
So the Republicans if you know it's just it's a total scam.
Yeah dude. And this really goes to, you
know the sovereign individual and how he's telling how
Bitcoin. Oin.
Empowers. The individual to move to
different jurisdictions. That's, it would be create an
Arbitrage situation and hopefully would fill always
says, governments are actually hadn't have to provide value now
that you'll see Capital flight fleeing.
Anyways, when you find out Bitcoin is more than gu, that's
not what I was expecting, but I'm here for it.
I love it. Alright, moving on to the next
one. All right.
Right. Said Fred the great resist.
I love that they will. They will own.
And they will be unhappy. It's so true.
Bitcoin is the great. I told you Peter scam coins
cause unnecessary stress. You silly cunt.
That's hilarious. All Right.
Moving On by Paulo or do you know, he's the chief technology
officer at bitfenix and also the chief CTO of tether as well,
it's alive and it's Bitcoin. It's a Franca science like art.
It's not to do it. It's clever.
Anyway, so that for that, I am looking, I'm looking I'm looking
I'm going to get, I'm going to give it a hat.
The Dorado Beach hat. Boom!
What would you give those memes? It's so crazy.
How were they end up in sink without even discussing
anything? Okay, look, I know we have a
spot. I know we have a clothing
sponsor. I was given, I was given
something by a fellow Bitcoin, ER, Max by bit and he has a web
store with mr. Krown called ungovernable
Misfits.com. And I receive today, my bad.
Hoodie. So yep.
That's what I'm given. First score by rat.
Very good scores, very good scores.
Anyways guys, we want to know. If you agree with our scores,
you disagree, let us know down in the comment section comment.
Comment comment, comment. Make sure to join our telegram
group where you can link us. Some awesome meme serve you
because it's a Bitcoin me review and we need awesome memes.
Join the telegram. It's waiting for you.
Down the link description, and Make sure to subscribe to us.
Alternative video platforms, like, Rumble.com.
In a personal favor. Bitcoin tv.com.
Anyways, fill it was an open source software released today.
Why don't everybody about it software releases brought to you
by Cipher safe. Check them out.
Cipher safe dot IO, forget the paper papers dead store your
seed in steel store. Your seed in the Cipher wheel or
the only new Cipher grid. They both come with a
tamper-resistant wire and the grid comes with a punch tool.
All right, we've got BTC pay server.
In one dot 6.1. That's right.
These guys are releasing stuff super fast.
I think we just announced 1.6.2 last week.
Anyways, 1.6, dot 1 is released and the link is down below in
the show notes. What is what is BTC pay server?
Phil what is be TCP server? Yes, okay.
BTC pay server is a merchant tool which allows people to
accept Bitcoin and lightning payments, really easily.
You can host your own BTC pay server, or you can have, you can
have them Them host it. So it could be, you know, it
could be hosted. Let's say on the cloud so to
speak. Awesome.
Good with it. Yeah, that's good.
Good with that one. All right, cool.
I forgot that we were starting to have that.
I'm sorry. All right we're adding it back.
We used to do it then we stop. Now we're doing it again.
Thank you guys. Thank you for always keeping us
honest. And asking us for this stuff.
Okay, because we were doing it, then we stopped anyways.
Don't forget to check us out on our Audio.
Only platforms, Apple podcast, Spotify and anchor.
If you want to stream a SATs. Check us out on Fountain dot f
m. You can stream us at Cool
Breeze. Awesome.
Thank you for all right guys. Before we going to give a very
special shout-out to our awesome clothing sponsor represent
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Not because they pay us but because they're actually
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Check out Simply Bitcoins blog. It's headed by the Legendary
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out at www.simpleandsensational.com
some awesome articles bear Market tires.
He has some expose a saint all the frauds, it's awesome.
It was so toxic that I was like Pirate.
You got to tone it down. He's like Nico.
Shut the fuck up. I'm not gonna do that.
So that's how toxic it is. You definitely want to go check
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Now, this is Saturday episode, we're going to take a break,
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Bitcoin. Don't let the shit coin.
Scammers fool you into the validation by.
Ation. It's only Bitcoin.
That's the real game in town.