The Bitcoin Group, the American original, for over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Juan Galt from the Bitcoin Standard Conference. Hello. Dan Eve, the crypto raptor. Joshua Shigala from thestandard.io. Howdy folks. And I'm Thomas Hunt from the world crypto network. Moving on to issue one issue one senators move to exempt Bitcoin crypto miners from proposed US tax rules. There was a bit of an excitement recently as the US Senate attempted to fund their infrastructure bill on the back of crypto miners. Yes, they wanted to make all of the miners brokers, meaning that they were holding funds when they're really just mining funds. The miners would have to fill out 1099 forms for the IRS, and it would have been incredibly onerous to mine crypto in the United States. The bill could have chased all innovation from this country. However, it looks like the senators are moving to exempt Bitcoin launching an amendment that may be included in the bill. Juan Galt, your thoughts on the Senate's attempt to define crypto miners as brokers. Yeah, so it's actually even broader than that. The actual terminology was interpreted by somebody as it could apply to wallets as well. Basically, anybody that was facilitating through software, the signing and broadcasting of transactions or financial products basically could be a broker. As such a broad umbrella, that could even apply to wallets as well. What I said on Twitter was basically this could send us into a two-year bear market while we deal with it because it's absolutely ridiculous. It would be like this legal battle, a bunch of fud. It would just be really, really bad policy, really bad administration. I'm glad that there's an amendment. Apparently, the amendment hasn't necessarily been accepted yet, so it still makes sense to take five minutes, call your senator. There's a website I can link to. Fight for the future.org. I believe they're helping promote this. You can call your senator. It's pinned on my Twitter and just bug them. I know them. Show that you have political will. I think to some degree, you can look at this in politics. You can look at the letter and the content of the legal proceeding or whatever. But then you've got to look at the real politics. The real politics might be like, well, let's see how much. Let's see if the crypto and Bitcoin supporting populace is actually politically engaged. They're just going to let us roll them over. That might be the real politics. Who knows what other games are playing. But I think the cost of pushing back right now is very low. Just call your senator and annoy them. It might save us a bunch of pain going forward for the next couple of years. Dan Eve. It sounds pretty superb. As Ryan said, it was pretty broad ruling. Apparently, this could include now. Not just mine is service providers, developers, nodes and even for non-bid coiners, the proof of stake validate is, which is funny because on the bill, there are lots of people like like, like, fudding proof of work and saying that, you know, it's going to boil the ocean like one guy went, this is terrible. It gives global warming, polluting proof of work, mine is a free person. Squashes the environment friendly proof of stake technologies, shilling like polygon and stuff and this thing. Might as well subsidize coal plants while you're at it. So obviously, some people are disappointed. But little do they know that proof of stake validate is they would be getting a free pass too. So the other thing is that might stand in its way is that if money becomes, you know, money is too type to mention, like simply Redwood say, is that it would knock 5.2 billion off of the race that the bill would initially envisaged. But of course, we all know that at the Fed there is an infinite supply of money. That's the button. There is an infinite amount of cash at the Federal Reserve. Yes. Nice. So and the cool thing about it is that it was resigned by both like Republicans and Democrats. So it's like healing the divide. So I'm obviously all for it. Crypto bringing people together. They say there's three ways to raise money for a bill. You can have new taxes. You can raise taxes or you can go after existing taxes. Josh Chagalla, what do you think of the Senate's plan to go after existing taxes? You're muted now. Try to regulate mine as it's like there's a bunch of clans that have no idea what happens in the world. They just know they have to make a rule for something. They have to rule something. They go around this ludicrous laws. The funny thing is that I'm noticing with America compared to like somewhere like Germany, is that the German regulators are all like, that's got nothing to do with us. It's obviously that regulator's problem. That regulator's like, I'm sorry. No, no, no, no, there's 999. And in America, they're like, oh yeah, yeah, I'll regulate that. And the other regulator's like, yeah, I'll regulate it too. And everyone's like regulating like crazy. No one knows that they're all like conflicting like, yes, it's definitely absolutely a commodity. No, no, it's definitely a money and you need a transmittal license. They're going to ruin the industry in the States. If you let them do this, yeah, really, it is. And of course, Bitcoin doesn't care. It is the honey badger. It don't give a shit. But the fact of the matter is miners are physical people sitting there with physical hardware and using a heck of a lot of resources. So they do care. And so they will just ship out. They will just move on just like they did from China elsewhere. At the end of the day, the network will still keep going. It's just that America won't get a piece of the action. So the US needs to think long and hard about what they're doing. And and pull back. Whoa, Orsi. When I say whoa, I mean whoa. It sounds like idiocracy. You like regulating stuff? I like regulating stuff too. Dan Eve, Jesse Powell and others went to Twitter calling it a red alert saying you had to contact your senator immediately. What is the current status of the crypto defense system? Was it successful this time? Do you think it'll be successful in the future? Exit question. Dan Eve. Well, I think that you can only vote with your fingers and feet or just fingers unless you're going to go knock on their door and then use your fingers as well. Notting. So follow the link that one place and yeah, and like get on the case. I mean, I might phone up from the UK, but they're probably going to piss off, I think, but it's probably worth doing anyway. I'll pretend I live in in the Americas. But yeah, go. I think it's it's this is a red flag. This is like raising the red flag right action stations people and get on the phone, speak to your senators and get it going. I think they'd kick you off right at the accent. Well, just put on the foghorn leghorn accent like I. Southern is always good. One got what do you think about the crypto defense system? I mean, I'm not sure that we're that we're as hardcore as we should be. I don't know. I think I think there's a lot of like well, we're cyberpunk and you know, to some degree code is law and like, like, listen, yes, Bitcoin will survive this. You can run a node and you can run it on tour and it doesn't matter what they what regulations they run. They try to put on wallets and miners and such. Yes, you can you can route around this if you if you try, but it doesn't mean that war is inexpensive going to political war with the United States would not be a happy thing. It would definitely the price would suffer. It would be a rough transition. We want America to be to be, you know, to we got to defend freedom wherever we are, right? And that that means like if you just stand down, right? What's that saying? The world is ruled by bad people when good people don't stand up to them or something like that. Paraphrase, right? You just got to you got to take a, you know, and this isn't like an expensive sort of move. I mean, we got to support something like coin sensors. They're doing a good job, but also just push back at every other level that you can because yeah, because power hungry people and anger and power hungry people, we're going to try to pull whatever they are they can get away with, right? So you got to stay vigilant. Like Chairman Mao said, all true political power comes from the barrel of the gun. And as Stalin said, how many divisions does the Pope have? Josh Worshagall, what about the crypto defense system? Yeah, look, there's a whole bunch of lobbyists becoming minted as well as crypto over this time. So some of the large players like Coinbase, of course, and Fidelity, I mean, the list goes on. They really need to put some some effort into this as well to protect their industry from these sort of regulatory nonsense. Yeah, I would say just get on the blower and tell me what you think. No doubt Coinbase will get into the regulations game just when it's too late to change the regulations. They're always behind that company, always behind. Well, Coinbase actually wants to be regulated as a broker. And I think they kind of on paper are a broker by all stand by all definitions. They probably fit the broker category. Some of the some of what the coin centers say is like nobody's saying that Coinbase should be regulated as broker. In fact, everybody kind of thinks like all the legal people are like, yeah, no, it's broker, right? So that's probably that's probably fine, you know, like obviously, I much rather there be no none of this stuff happening. I think there's an argument for that. But but yeah, Coinbase is basically a broker. So, you know, that's they probably want this. Coinbase can get in there first. They can establish the regulations and use them against their competitors who won't have the money. Dan, go ahead and catch off. Is Coinbase wanting to be regulated a bit like BDSM? I wonder what their safety word is. Dozecoin. Skip a Dozecoin shop. Moving on to issue two crypto market price suddenly soars toward two trillion dollars. Could Ethereum be about to flip Bitcoin? Ethereum's major upgrade code named London. I've been there. Went live earlier today, helping the Ethereum price record gains of 20% over the last week and sending the price of Bitcoin back over $40,000. The Ethereum price boost pushing Ether tokens towards $3,000 has caused the combined crypto market to climb to almost $1.7 trillion up from recent lows of $1.2 trillion in July. Juan Galtz, or let's see, we went first. Dan, Eve, the Bitcoin price run up, the Ethereum price run up, is this a bold market again? Is everything fine? Also, reminder to everyone at home to give us a thumbs up. You should just reach down, push the thumbs up button, and then we'll stop asking. Thanks. Don't push the thumbs up, then Craig Wright will be declared by the court of Satoshi. So, yeah, quick thumbs up, quick everyone, quick. So, I think obviously, if the prophecy is foretold, are true, then we're on our way to the sort of 100K plus marker, the stock to flow in that. Which, you know, I'm a believer, I think that would be pretty darn awesome. I think what's at $1.7 trillion, like the market cap is back up. Obviously, there's a lot of crazy coins in there that maybe slightly overinflated. But the Ethereum, the upgrade's pretty interesting, because they have changed the fee structure. And I must admit, I use it for stuff, you know, on random little thingies and ding-dongs. And it's meant to be simplified, although so far it's just a little bit more confusing to me. Maybe it's just me, I actually kind of got used to the old, why thing. But like the Fed, you see, the Ethereum has an unlimited supply, right? There's no cap on it at the moment. So, I mean, this article was about whether it will actually flip and flip and the Bitcoin. And technically, if they just keep on printing forever, then it could potentially actually happen. But it's unlikely to. But, you know, I think the interesting thing is from the article is that it's said about the number of active addresses is more than Bitcoin for the first time. And maybe that's because it's just stuffed with like random utilities. It's not just fundraising with ICOs and stuff like that. You've got the tokenisation of other assets. You've got NFTs, DeFi, like Web 3 gaming and stuff like Decentral Land and stuff like that. So, there's people playing day in and day out. And even just, you know, if you're staking something and then compounding it, it's quite addictive to be like to go and staking and claim and then compounding on a daily basis. And yeah, so I think that it's, you know, it's got a lot of utility. We're really ever flipping Bitcoin. I kind of hope not, because I think Bitcoin is king and it will surpass anything that Ethereum can throw it. But, yeah, it's an interesting game. I can't wait to see if it will ever happen. But, you know, the sort of DeFi space moving to Bitcoin, because then I think it will really explode. Josh, Shagala. It's an amazing upgrade. I really like it. I like what Ethereum's doing. I think it's kind of really, really interesting in terms of experiment. I like, you know, obviously I'm a Bitcoin guy since way back, Bitcoin all the way. But if there was, you know, Bitcoin's got its thing. It doesn't do smart contracts on a native thing. Of course, we've got RSK, which does really cool, cool stuff as well. So, shout out over to those guys. But, you know, if really, really innovated this space. And so, I think it really needed to, this is why I was never super interested in Ethereum as an investment was because it just had this inflationary for everything. Yeah, the inflation wasn't huge, but it was something. And that's what really attracted me to Bitcoin in the first place. It was like, there's 21 million. There's 21 million. That's it. But, if you go over to, I don't know, to share my screen here. Let's see if the host enables it. But we have this little thing here. This is sound ultrasound money. And it shows the amount of ETH burnt since the hard fork. And it's this morning, it was at 4,405 ETH burnt. That's a lot of money in like one and a half days. The biggest culprit was OpenC with people trading Curia cards, of course, like crazy. But, UniSwap, that's how many burnt through UniSwap, that's how many burnt through here. So, all of these coins, so we're definitely heading, ETH is heading into a deflationary currency now, actively. So, every block, these fees are just getting burnt, which isn't paying it to miners, it's effectively paying every other holder in the network through deflation in terms of value. But it's an interesting move. I think it's, yeah, I mean, this whole space is an experiment. And, of course, it's starting to become a massive experiment. I mean, that's a lot of money sitting in Ethereum now. So, and Bitcoin, you know, and they're, why are they burning it? Are they getting tokens on the proof of stake chain or like, what's the purpose of burning all this? So, the purpose is basically so that, yeah, moving miners away from, there's a lot of bad incentives for miners, including a lot of minor extractable value stuff in terms of front running trades. And there's a whole bunch of reasons, which we can go into some other time. But really, the choice was, do we hand it over to something or do we burn it? And really, if you hand it over to something, you means you have a controller. You have ultimate power of a certain group. And that's really not what you want. By giving it to no one, you're giving it to everyone. And that was kind of the point. It's like, let's give it to no one by burning it and let's give it to everyone. So, so we've turned from a currency that's constantly growing more and more to one that's actually getting less and less now, because there's more fees getting used up than than being created in the block rewards. I'm, I definitely have a lot of questions. So, I mean, is this that they're burning the coins that they're mining or this is like their own holdings, they're burning them on the, on the ultra-theorem chain, but they keep them in the new chain, or they're just straight up burning their coffers for no reason. They're just burning fees. So, rather than the fees used to go to the miners. So, whenever you did a fee to do a uni swap from one token to another, those fees would go to a miner. And the miners would, because the blocks are small, the miners are just basically driving the fees up and they loved it because they were getting super rich off these fees. Of course, I mean, look at a lot of fees. So, so now, basically the miners don't get those and it's a step towards the proof of stake. The, the miners, you can actually donate to miners if you want. I think there's some donate function. I don't know who would do that, but yeah, it's, it's an interesting. I think, I think we should do a whole show about it actually, because it's super fascinating. Very interesting, yeah. All right, screenshirt off. One, go ahead. Your thoughts on the price of Bitcoin in Ethereum? Yeah, I mean, as far as the price of Bitcoin in Ethereum, the last time that there was a flipping, flipping, flipping, FOMO was actually right around the top of the 2017 bull market as the dominance crashed, right? That's when the all-time high came and then as the dominance recovered, the price crashed. And there's, there's an interesting correlation going back to 2014 that we don't have as much data back then. And there's some correlations right now with the dominance crashing in the Bitcoin price rising. Basically, when Bitcoin can go up, everything else goes up when Bitcoin goes down, everything else goes down. So I think, I mean, I don't believe that there's going to be an Ethereum flipping. I think, I think we don't, we don't want to get, we don't want to get complacent. You know, this is a race and Ethereum, they're pulling all the tricks. Of course, the funny thing about Ethereum changing its supply today to make it more of that deflationary is that if they can do it today, if they can decrease it today, why can't they increase it tomorrow? In six months, they're going to have another fork and they might be like, well, no, actually, no, we should increase it, right? And so it just shows, it just shows their centralization. It shows that they have enough political will and coordination ability to modify themselves. And that's just a big target on it. Bitcoin can do that. And, there's some benefits to that. But obviously, there's some costs. We got to stay competitive. Granted, Bitcoin is never going to be the place where you put everything on it. Ethereum is a stock market. Ethereum is everything. You can throw whatever you want on Ethereum, do whatever you want on Ethereum. So yeah, you're going to have a larger market share of stuff, but that's also part of why the fees I'm sure are high. Funny enough, I remember the thought about Bitcoin fees going so high that you have Bitcoin cash fork off and like all this drama and Ethereum actually kind of launched because they're concerned about high fees on Bitcoin. Well, today we have $25 fees on Ethereum for normal transactions and once that they'll she provide transactions on Bitcoin, right? So what's going on there? I think Ethereum has serious scaling issues. There's scaling issues in our own ways worse than Bitcoin's. And I don't know, I'm just curious to see how it goes, but I definitely wouldn't be wouldn't their short Ethereum. I'm actually slightly long Ethereum. A much more long Bitcoin, but you don't want to, you know, people love their Ponzi schemes. And as far as I can tell, 80% of Ethereum is just Ponzi schemes on top of Ponzi schemes on top of Ponzi schemes, top of Ponzi schemes. There's no fundamental value. There's no problem being solved. There's no market. There's nothing being created. It's basically money slushing around. And people love their Ponzi schemes. So they're going to play with their Ponzi schemes. But you know, we all know how that ends. So that's that's kind of my take on it. It was Ponzi's all the way down. And what can you say about a project that started with a massive pre-mine reduced the issuance to increase the value of the pre-mine? And now is burning the fees, reducing the amount of Ethereum that exists to increase the value of the pre-mine. It's like you could always trust them to increase the value of their own pre-mine. Moving on to the exit question competing against the predictor of predictor prognosticator of prognosticators, the magical Bitcoin 8-ball, Dan Eve the price of Bitcoin this time next week, higher or lower? They're muted. I'm going higher. Josh Shagalla, higher or lower? I'm going higher. Up on gold, higher or lower? Bitcoin, I think we're going to go test like 50k and then we'll see where that goes. Higher with a number, three against the ball. What will the ball say? Yes, definitely. The price of Bitcoin is definitely going higher. Check out shop.worldcryptonetwork.com where we're having a sale. That's right. How could you ever make any money at these prices? Well, that's because we won't make any money. We've turned the merch store into non-profit. You can get t-shirts for 13 bucks, bugs for eight. And that's about it. Check out the world crypto network store at shop.worldcryptonetwork.com. Everything is on sale. This is as low as it will go. If we were any lower, we would be paying you to buy it. Issue three, Nigerians moved nearly 40 million dollars in P2P Bitcoin trading in 30 days. Despite the ban in early 2021, Nigerians are trading millions of dollars worth of Bitcoin and peer-to-peer markets every month. The central bank of Nigeria may have prohibited financial institutions from dealing with Bitcoin, but that hasn't stopped the Nigerian people. They seem to be blowing up and using Bitcoin to trade. Joshua, Shagala, your thoughts on the sudden takeoff of Bitcoin in Nigeria. Actually, it's not that sudden. Nigeria has been really loving crypto for a long time. And actually, a lot of countries on the continent were heavily into crypto. So, obviously, mostly Bitcoin. So I went to an online DFA conference on weekend, gave a talk there, and literally so many Nigerians interested. Really wasn't. And the sad thing is that they had this very scammy culture for so long that really hurt a lot of other countries also in Africa because people would just generalize and say, oh, no, it's from Africa and you get scammed. And that's just really unfortunate. It's a massive continent with a lot of people. And Nigeria is a massive country with a lot of people. It's just a few bad eggs that spoil that broth. And so it's really unfortunate that name Nigeria. As soon as you hear Nigeria, you get scam. And this is a really terrible brand for the Nigerian people because there's some really amazing talent in Nigeria. There's some really strong will and forward thinking people there. So, you know, I hope that they can turn that brand around to be helpful and build great products that don't scam people. And you know, you can proudly say, made in Nigeria with that, you know, people going, oh, dodgy. It's really interesting that a small group of people early on into the internet could embarrass their whole country by trying to take advantage of so many people, either an ethical failing or more likely, and need for money that was so great that they would do anything to meet that need. It's just fascinating. Yeah, but it wasn't just do anything. It was really well organized and structured and they even had songs in the top 10 song lists. It's like the stupid western we take your money. It's not our fault you're stupid. I don't know what the song was. It's amazing. You can look it up. But like, you just think, God, wow, that's hardcore. Wow. And we joke about things like robbing from the grandmas, but that's exactly what you do. If you're that kind of scammers, you target the old and the technically inefficient and the week and so forth. You really do. It's taking advantage of people in every way. Yeah. And you know, the unfortunate thing, actually, it's a good lesson for people to know how scams work. Because most scams work the same as the Nigerian print scan. And what it is is they get you, they get you ban, lose you with a massive number like billions of dollars or hundreds of millions. And you think, oh, wow. And then they ask you to just pay a small amount. It's like five bucks or something, you know, to release anything. I am welcome. What, what, what, huh? Hey, there's a billion dollars that I could get if this is real. I put five bucks in there, put five bucks and they're like, well, thank you. It guess is great news. We've gone to the next stage. The money has moved now to bank B. We need this person to sign off. That's just going to cost you another 20. And then it's done. And so you got 20, I've already paid five. What's another 20 and it put 20 and it just keeps going. Oh, what's another hundred? I've put 50 and what's another hundred and then like what's another thousand? What's another 10,000? Then hey, I've already put in 50,000 bucks. I'll just mortgage the house because we're nearly there. Like the, the King's Princess uncle has signed off. And this is and really I'm at sad because people get this cognitive dissonance kicks in where they just don't want to believe that they're that stupid that they've fallen for it. So they'll just keep falling rather than admit to themselves and have that sunk cost fallacy really hit them in the face. And, and you know, this, this happens so often. So if you see something where it seems like there's a lot of money and they're only asking for a little bit, just, just don't, just don't do it. Ask yourself, is this too good to be true? If it is, probably is, don't even give them five bucks. Well, and they even have better scams now, Josh, to take advantage of the old. They'll show them a picture of the bank account and they'll say, okay, we're about to send you the money. And then they'll say, oops, we sent you too much money. We sent you $10,000 instead of $10. And I'm going to get fired unless you send me $9,000 and $990 back. And this old person, they feel so bad about this person on the phone. They don't want to get them fired. They send envelopes full of cash through the mail, which makes no sense. Right. And they also, they show them an edited version of their bank account. They take the webpage, make it HTML, they make it look like you got $10,000 that you're not supposed to have. And again, always against the old, always against, you know, idiots or the poor or the stupid, all that kind of thing. Like, there's some, there's some great YouTube videos of scam, scam, scam, scam, scam, scam, scam, and it's just hilarious. If you're typing like angriest scam in the world or something, it's really funny because these people pretend to be old people. Yeah, yes, I can. And then it's just, it's really, it's really quite funny. Probably one of the best things we can do is just keep them on the line, just waste more of their time. Just hold on a second and just make them wait. Yeah, the one guy that does that on YouTube, he basically just keeps them online for like 12 hours, just doing stuff and it is quite fun. And then he edits the video down to watch it. But it's super hilarious. And the thing is, that guy has now built a bot that uses AI to determine what any prerecords, all this stuff. And basically answers, and hang on, which button again? And like the bot just repeats all these, and it just, it's just there to store the scam. So they don't, so they're not able to scam real people. If we had enough honey pots, they'd all go in there, but there's too many scammers. Yeah, but I just want to just quickly end that off by saying, you know, Nigeria is an amazing country with a lot of talent. These, these, there's a few people that are really spoiling it for everyone else. And that's not, you know, that we shouldn't just generalize. It's never too late to change the name of the country. It could be cyber future delia. Dan, Eve, your thoughts on cyber future delias, new Bitcoin. I think it's, I think it's called Bitcoin's been booming there for a while, even after the last time it was mentally banned. Because now they're just like reinforcing the original ban, right? They're kind of cyber banning it. And then they kind of, you know, they, they, they kicked off a bit, and now they're kind of revisiting that again, which is a shame because, you know, again, when I first got into Bitcoin, it was all about like Bitcoin is the international remittance, like say there, you know, the fact that you could, you know, sending, especially to Nigeria, I think the two biggest places remittances from the UK at least to India and Nigeria. And the fees that they get charged are insane. And so this, you know, Bitcoin was going to, it was going to save that problem. So it's cool that, you know, it is still banking the unbanked, obviously, what would be interesting to know, I don't know if you can even find this out, but they're, it's not just Bitcoin, but, you know, maybe they're even trading Litecoin. Sorry. Whoa, whoa, whoa, whoa, Lightning Lightning. Whoa. So Lightning, you know, what the impact of Lightning is over there. And are there any kind of, you know, Lightning, are there Lightning exchanges? That would be kind of cool. I don't actually know myself. But it's good to see that it's making a change where there are a lot of unbanked people. Talking of idiots that get scammed, I'm one of those people that almost got scammed. But in a real, this is a really intricate way. So I just had a flat, I had, I had a room for rent. And they sent me a check for like three grand. And, and then about two weeks later, cleared and everything, perfect, perfectly clear. And then about a week later, the guy phones up, it was meant to be a French lady, you see, I can't remember her name, but you know, I was sitting in the picture, was like this dainty French lady is like an exchange student just coming over from France and I'm going to send her stuff. But it was this dude. I'm not going to do the accent, but he was pretty angry. And he was like, oh, the person that I'm working on behalf of the travel plans have changed. So can you send me back to, you know, everything apart from one month rent to 2,700 pounds. And you know, just before I was about to do it, my dad was like, nah, that sounds dodge. So I found my bank and they were like, nah, the check's cleared, it's fine. And my dad was like, nah, sounds dodge. And I phoned the police and they were like, nah, the check's clear, sounds fine. And my dad was like, nah. And then I like, I thought, I remember the company, it was like, I can't, I'm not going to say what it was, it was an English teaching school actually. And I phoned the direct, like phoned the company and then got through the direct and they said, oh, you're like the second or third person we've heard from like this week. The, apparently the, the guy had lost his check book and it was eventually found actually in Scotland somewhere underneath the bench. And so when, when, when, when it obviously, you know, phoned the bank. And what they did was, this is totally illegal, by the way, they just took the money out of my account straight out of the account. No, no, nothing. And I shit you know, I, I will find it because it's here somewhere. They sent me back to check with a stamp on it that said fraudulent. I'm like, didn't you even check it for fingerprints? Isn't that evidence or something? They don't care. They're my as banks. But anyway, I was almost, but it's a clever scam, right? It's a clever scam. The money cleared. It was my money and then they pulled it. But yeah, be careful of general scams. It's obviously not just from Nigeria. And like anything like, you know, put the small number of people that use Bitcoin badly, give it a bad name. The small number of people that use any technology badly and it'll get tired with that brush. So I think it's, I think in general, it's, it's great that the Nigerians are standing up to the legislation and continuing, it's a continuing thriving business and yeah, respect. I hope Bitcoin grows over there and actually it becomes eventually accepted. It does continue to be one of the problems with banks. Back when I first got into Bitcoin, I tried to sell some on eBay with PayPal. I got the money. I sent them the Bitcoin. They claimed they were hacked and PayPal took my money back. So very bad idea. I never do that again. And because now they're cool with it. I get at the time they were like, oh my, what is this Bitcoin? But yes, you just have to be very careful. You think you have the money in the bank? It could be reversed. Even if you have the money, you take it out. You have cash in your hand. They can still make your account go negative and chase you forever to get that money back. There's all these stories about so and so got a million dollars deposited in their account. Cashed it out. With spending it, having fun and the bank just comes after them anyway. Garners their wages, takes back all the stuff. You really can't escape these people. One, your thoughts, not just on banks, but also on the Nigerian Bitcoin situation. Well, I think it's great. I mean, I think if they're the ones to push forward a P2P innovation in Bitcoin, fantastic. What better sign of this strength of Bitcoin than the Nigerian government banning Bitcoin and Nigerian market going off the roof? I think that's popping off. I think that's great. I'm wonderful to hear. Exit question, which continent will Bitcoin be the best for Josh Jagala choose a continent? All of them. Not going to choose. It's good for everyone. For all our alerts, skipping to the end there. It's got a Dan Eave pick a continent, probably Antarctica. Well, I'm going to go with Africa because of the amount of unbanked people. I suppose probably proportionately there's more in India and China than unbanked. But I think Africa is because of the rise of the telephone credits and stuff, they're pretty used to like incident money and phone money. I think it's perfect to take off that. One, God. I think the Americas, our currencies are just getting worse and worse. Our fewer currencies are getting worse and worse. And adoption down here, it's definitely happening. There's definitely people are educated in the topic now. They're getting more educated. You know, there's still a lot of room to grow, but I think the Americas are going to benefit from it a lot, especially as the dollar continues to lose dominance. The Americas are very attached to the dollar for various reasons. So I'm going with the Americas. Like Dan said, it has to be Asia. Think about India, the world's largest democracy and China, the world's largest capitalist, totalitarian dictatorship. Prime and perfect ready for Bitcoin. But really, I was going to say all of the above, but Josh stole it first. So shake my fist at you. Moving on to issue four. El Salvador could strain the Bitcoin blockchain. Says JP Morgan. JP Morgan seems to be analyzing El Salvador using only on chain Bitcoin. Yes, they're complaining about the price of fees and wondering how such a small and potential and probably poor country could use such an expensive currency like Bitcoin. Of course, Bloomberg, JP Morgan and everyone else doesn't seem to know about the lightning network. One called is El Salvador using Bitcoin or are they using the lightning network, confusing, confounding, the media and absolutely just driving those bank analysts nuts. Hey, listen, the more that the corporate media embarrasses themselves, the happier I am. So let them continue to make rules of themselves. If you don't even understand the lightning network at this point, or I have like just basic, just get the big picture brought like thick brush down at least, then yeah, no, it's it's incredible that you know, it's just how embarrassing. Dan Eve, JP Morgan wrote an entire report about on chain Bitcoin usage. Could I send you some satoshi's on lightning? Well, they flip flop like nobody's business. You know, there was a point wasn't there when Dimon said that anyone that trades Bitcoin will be fired. And then obviously there was the, you know, thing mentioned before, like when when he said it was a scam and then like a day or two later, there was like 9000 Swedish, you know, Bitcoin contracts. And so they kind of flip, they flip flop, depending, look, they play the market like Musk, don't they? They're trying it. He's probably sat there, Jamie Dimon's probably sat there like on his thing and he's like, right, say something that's going to move the market. So many doesn't happen. They're like, oh, no one cares about us anymore. He probably feels really deflated right now. But yeah, he's not taking into account sad. I know he's not taking into account lightning. Obviously, it's the crucial rollout. The, you know, that Jack Maul has is doing a lot of good work out there. There's the Bitcoin beach. There's, there's, you know, everyone's trying to roll out lightning infrastructure. And that's the game changer, right? It's like the difference between, it's like saying, like, oh, we can put these bars of gold into stackable, gold into stackable bars of gold. But, you know, it won't roll out anywhere else because you know, you can't get the gold smog enough. Actually, you can make gold coins. And so gold coins are like the lightning version of gold bars. So they're heavy. You know, gold bars to heavy whatever. So yeah, I think they're missing a key element. And, you know, to be, to be citing issues with technology without knowing the full capabilities of the technology is, is pretty naive, really. And they should probably do a little bit just to just to teeny little bit more research before, before, you know, before being a fadding basically. Naughty diamond, naughty diamond. Josh Shagallas, should JPMorgan do more research or just talk to Jamie Diamond's daughter? She probably knows about lightning. Yeah. JPM, I don't know why anyone even listens to those guys anymore. They're obviously scammers as well. Like they tell you not to buy that everything is just, you know, big coin is anyone that trades in is going to be fired in their company. And then they're they're buying up in the background. Like it's just awful. And it's so much fad. So much fun. The funny thing is Ethereum also has the same stuff going on. And what I'm what I'm finding interesting is that the Ethereum crew over there doing all their funny stuff are really embracing second layer stuff. So they're like, oh yeah, there's a net. And what it's doing over the time is actually removing some of the fad about layer two because they're realizing, oh, it's quite normal to jump over to polygon to do quick trades for really cheap and then back to main chain. And so by doing this, there's there's a there's a whole lot of education that's happening on the other chains about why the second layer is good. Obviously, JP Malken isn't keeping any pulse on any of the system. They just be bladling like that sort of bladling. And yeah, just can you just be quiet JP like seriously, just go back and play with the toys again. Eggs it question, when was the last time you used the Lightning network and how did it go? On Galt, are you with us? Yes, yes, I am. How did it go? When is the last time you use the Lightning network? Did it go well? Yeah, like yesterday I paid somebody 20 bucks for getting me. I think they got me bacon or something like that. They just went to the store and I was like, yeah, sure. Easy mode. I've been using it for a while testing it. The Phoenix wallet is fantastic. I highly recommend it. Dan Eve. I used it to pay back someone from the New York blockchain days conference, which I'll blabber about briefly in a bit. Josh, Shagala. Yeah, I used I used Lightning all the time. Literally all the time. I don't when was the last time. I think two days ago, yeah, two days ago, friend of mine bought a beer and I paid him back in Lightning. I love it. I got some sats in Strike and I sent him over to Wallet of Satoshi. I'm still still trying to figure out how to use Strike to buy Bitcoin. I think some kind of Bitcoin tab has to appear. I don't know. It hasn't happened yet. But Lightning network worked great, piece of cake, low fees, great for small transactions. I think we're running out of time. Just like to remind everyone to check out the WCN Clips account, WCN Clips on YouTube. We've got all kinds of clips from this show on the World Crypto Network. They're great for sharing. Maybe you could watch a small clip and then convince someone to watch the whole show. WCN Clips on YouTube. Now predictions are story of the week. One, galt, are you ready with a prediction or story of the week? My prediction is that NFTs and particular rare peppers are going to get ridiculous. The first NFT ever made that I come out to rare Pepe sold for like $80,000 to day 33 Ethereum. It's been sold also for a couple of Bitcoin, I think. Anyways, I think NFTs are going to be the next big thing. There's going to be a lot of bullshit and a lot of interesting stuff happening. That's my prediction. We're not done yet. Very cool. Shout out to rare Pepe's. They're rare and they're old. Dan Eave, a prediction or a story of the week. My story of the week was the pleasure of the New Yorker blockchain days conference, which was pretty incredible. There's some amazing speakers there. There was Thomas, the ElectroFounder. There was a Miyataki Joshua, obviously, of the standard, which I loved your video of the crane on the water that's being stabilized, whilst being stabilized. That was really, really cool. Also Victoria Jones, the author of Bitcoin Truffy K, how Bitcoin fixes this, Flag Costa, of Bitcoin takeover, and of course Ben Ark of LNBits. It was really cool. Obviously, it was the first time I saw a Joshine person as well after all these shows. We hung out and had some drinkies on the rooftop, which was also an incredible honour to perform a few wraps on the opening night as well. Do some, do a bit of singing. Bitcoin crypto singing. In general, amazing conference in New York, a really, really amazing area, amazing people, loads of fun at next year. Make sure you get your ass there when we're all out of the chains and shackles of COVID. Get down to blockchain New Yorker days next year. It's going to be incredible. I imagine your reaction to meeting Josh is the same as mine. Wow, you're tall. Josh, go ahead with a prediction or a story of the week. Nick Hansen. Most of us are looking down, so it's great that you guys get to look up for once. Yeah, man, blockchain days, New Yorker, really amazing conference. There's not many conferences where I say this is an amazing conference. The funny thing was because of COVID, Spain went like into a next level, next level, flu season. They really put a dent in the amount of people that went and that's really unfortunate. 70 plus percent of people dropped out because of that. It's really unfortunate because those that came, really, we had such a great time. It was a tight community, but it was well worth it. There's two conferences in this world that are really great big time. That's LeBitConf, awesome conference. This one was amazing. I've heard really great things also about the Bitcoin standard conference from Ugly or Goat. Those three, I haven't been to that once. I can't testify personally, but blockchain days, New Yorker, really next year, put it on your calendar because it's well worth it. Always top quality people, top quality speakers, and a hell of a lot of fun. They get all the talks done in one day, and then it's things to do. Get on a boat with all these big corners. Watch out that your treasure doesn't fall overboard because you definitely don't want that. But they don't float. Beforehand, lots of drinks, lots of food, lots of dinners, and you really get to philosophize, talk, meet all the people that you want to meet, and talk about, and make business deals, and make stuff happen. This is really, it showed me, these two years of being in lockdown and being in prison, basically showed me that Zoom and all these sort of online things, you can't basically do what a real life conference does. It's missing that thing, and that thing is getting drunk with a bunch of people that you really love to talk with. The juices that flow, the inspiration that bubbles up is there when you meet people in person, and this is something that the internet just cannot replace, basically. It's one of the very few things that the internet cannot replace. Definitely well worth that conference, and that's all I'll say about that. Very cool. I'm a proud owner of a CURE account, as well. Oh, very cool. Shout out to Chris, who runs the Bay Orca conference, and everyone else who helped out. Like they said, Juan, why don't you tell us a little bit about the Bitcoin standard conference happening just next week in Insonon, Mexico. I'm very excited. We're flying over there. Very soon. Basically, this is the first of its kind. The Bitcoin standard conference is very much of Bitcoin-oriented conference, tone-based, and a variety of other Bitcoin characters are going to be there. Yeah, Komas are going to be there. Jimmy Song is going to be there. It's going to be two days of panel style, fireside chats. I'm going to be hosting two of them, one of them on the future of banking and Bitcoin's role in it. If there's an interplay there or no, how is that going to work? How is going to play out? Also, the politics of Bitcoin, internal and external. I think it's going to be very interesting as well. But the reason you're seeing off-road vehicle driving on the desert, right now, is because there's two days of conference in the one day of driving, Baja 1000, Baja 500 style vehicles on the desert. That's really what I think is going to... Well, aside from it being intellectual elite Bitcoin conference, it's going to be also full of traders, but then you were also going to go drive this cars on the desert. I don't know if you've ever done it, but it's a great time. You're driving these vehicles at 40, 50 miles an hour on the desert, dodging bushes, and trying to catch up to what will go to an absolute madman. I'm really excited about that. I think that's going to set this conference as a very special place. It's in Mexico, one of the only countries that's not trying to lock everybody up in their houses. That's also a very good time. This happening in Baja, California, next week, about a couple of hours from Tijuana. I can get you at this count if you want. The price that you see includes... The full price includes hotel, stay for five days, and takes you... Bakes you up at the airport and takes you back to the airport. So you'll see a big ticket item, but it's all inclusive. I think it's well worth it, and I'm very excited to check it out. I think it's going to become one of the big conferences in the future. Very cool. Shout out to Ugly O'Goat. Everyone can check that out at bitcoinsstandardconference.com. That's right. I can get you at this count to hit me up on Twitter and I'll get you this count. Very cool. Like Josh mentioned this week, it's been a really exciting week for Kerio cards. Several single cards, like one card sold for 100 Ethereum, which is just insane. Congratulations to anyone who made those sales. Congratulations to the artists. Good. We've had a couple of actual sales where they have their little names on there so you can tell it's public, but Max, one of the artists sold one card for a quarter of a million dollars, and Robeck, one of the artists sold one card for a quarter of a million dollars. So it's really incredible that people are interested in my startup from 2017 and that they're interested with such large amounts of money. We created them as digital baseball cards, tradable, and we always hope someday there'd be a marketplace for them, but it's amazing to see this marketplace, to see the collectors and to see the interest in the discord, too. Because everyone joins the discord. They all say something like, why is this project so cheap? This should be worth more. Then they say something like they like the art or they like the collection or the way it's laid out. There's just been a lot of positive comments and thank you to everyone from CurioCards and congratulations to anyone making those huge sales and just really driving at home out there. Like Juan said, NFTs are real. CurioCards were right after Rare Pepe's. Rare Pepe's were on the Counter Party blockchain, which is linked to Bitcoin, which was kind of hard to use. We looked at that. It's still hard to use. We looked at that and we were like, well, I think we could do it on Ethereum easier and we gave that a try and we pushed out our MVP to market. We tried to convince people to buy the cards in 2017, but they weren't ready yet. It turns out four years later, people were ready to buy the cards. We didn't even have to make any videos or any tweets or anything. All the communities doing it all for themselves and for the good of Curio. So thanks to everybody that's involved in hashtag CurioCards. It's really amazing the vision that you had for that and the fact that it was the first NFT on Ethereum that's really amazing. And same with Rare Pepe's and they really visionary project, even though they were total comedy and had no value and they always took the piss out of themselves, the boys from Rare Pepe's. I've always loved the project in terms of the the roles, but I never really understood like collecting digital art. It just didn't make sense to me. It's starting to make a little bit of sense, but at the end of the day, I think it's more of a it's sort of a hype collector. Like humans are weird. They love to collect and actually just want to say one person the other day said to me, why will Bitcoin have any value? Because there's so many different blockchains and the technology will give it a and really it comes down to it was the first and people love to collect the first. Like, you know, if there's plenty of reasons, there's plenty of reasons, don't get me wrong, this isn't the reason, but it's one of the reasons that people go, wow, I've got one of the first crypto, I've got a section of the first cryptocurrency ever invented. And so it's sort of got collective value as well. Yeah, well, I just want to say like, I've been playing with this NFT stuff for a while too. Like, obviously, the market is pulling me back into it because I made one of the Rare Pepe's and now people are just going mad over them. And so it's pulling back in. I'm having a great time with it, but I totally sympathized with people not understanding what the heck and NFT is. I still struggle. It's like, okay, why though? Why? But I think one of the things I'm concluding is that we have this weird trinket collection instinct and the and the rarer and the funnier and the the more we like the art, the more the art speaks to us, even if it's not like, you know, Picasso level stuff, right? Like some of these peppers, I find them really funny, genuinely hilarious. And some of them just like I lay sober, I don't get them, but somebody else is like paying real money for them. But this collection, this collection impulse is very strong. And obviously they're like fine wine, you know, they older the better, right? And so and people, people are they getting them and flipping them and collecting them and real collectible, are collecting them and but there's also something else. Like I think they can function as as like fandom proof of fan, right? Like if you if you buy somebody's NFT, you can prove cryptographically that you own that NFT and that can give you access to a particular artist, for example. And that's that's I think as a as an access token to to niche VIP environments with the artist with the celebrity with the with the influencer. That is that is genuine value. That's a that's a that's a key to a door. And I'm excited to play with that. I might play with that a little bit, but I think we're going to see a lot more of that. And you know what art is one of the most profound aspects of human culture. So this is this is really interesting. I could see that happening very soon. Juan from now on, you'd have to have a mad bit coins number 20 card. If you want to email me, no one else can email me. You have to go through this. I mean, we got to make that easy to do. But I think it's it's just low hanging fruit man. But like Juan was saying with rare Pepe is back in it's even just the name rare Pepe and of course Pepe himself and all of that checkered history. It just sounds funny. It sounds silly. I remember when Theo told me about the first time. We didn't even think it was a real project. We just thought that Theo had created in his mind these imaginary rare Pepe's and he started answering every question with rare Pepe's. We'd be like, what's the price of Bitcoin? He's like rare Pepe's and we're like, okay, man, rare Pepe's are cool. But just talk about him at the end of the show. And he is as a whole crusade about this. He's like, hey, stop me from talking about rare Pepe's and it's like, no, man, we were like just at the end of the show, not for every topic. But and especially after we found out they were real and worth money and all those things because you got to promote things at the end. But remember the historic story, the craziest thing. And again, this is probably a apocryphal. This probably isn't true. But Christopher Rose and Jonseth, they had this great show called Bitcoin Uncensored. And they were really uncensored. So sometimes people didn't like it. And sometimes it wasn't a great show. I love that show. They pushed the boundaries every time, right? Haydom or Lycomer Haydom or whatever. He always got some interesting stuff. And the rumor on the internet was that Jonseth had bought these rare Pepe's early that he talked about them on the show and he promoted and promoted and promoted and then he sold them to buy a $35,000 kitchen upgrade was the rumor on the internet. I don't know if it's true. But Chris was so mad because they don't promote things. They were Bitcoin Uncensored. They were very serious about their project, their show. They broke up the show. They never did show. They did show separately, but they were never as good as they were together. And I don't know if Jonseth's true. Not as kitchen or not or if he enjoyed it. But it was just the craziest thing where these rare Pepe split up this classic Bitcoin podcast. I have no reason to find out. Like now it's probably like he overspent on the kitchen and he could have killed it if he'd held the rare Pepe's forever and he just didn't believe in them long enough. Go ahead, Josh. I'll cut you off. No, no, I'm sorry. I used to really love that show. They used to talk me to sleep at night as I try to get the dead. I love to when they went to that conference and the conference wasn't ready for them or something. And so they took chairs into the restroom. All the interviews from the restroom. And you can see dudes come in and they're like, oh well. And then they go on pee and then they go use the restroom. They're like, well, I'm going to use the restroom. And they think I'm like interviews like Bruce Fenton and some other people in that restroom. You can find these on the internet if you guys Google or I hope you can find them on the internet. It's suck. They're gone. But yeah, Bitcoin uncensored. Shout out classic show. And yeah, definitely shout out to all the Kerio card people. And I hope you're watching and all that. So but thank you so much for your interest in the project. I guess we're the first NFT and we're before crypto punks. And maybe the crypto punk effect is now happening to Kerio cards. I don't know. That's crazy. But that's about it for this show. We're truly out of time. Be sure to give us a thumbs up and subscribe down below if you haven't already. We'll be back again next week. Until next time.