The Bitcoin Group, the American original, forward the last ten seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Dan Eve, the crypto raptor. At B-Thursday, guys. Martine Wishmare from General Bites. Howdy ho! Josh Shigala from thestandard.io Muted, moin, moin, moin, moin. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one. Issue one, arc invests, Kathy Wood says that institutions are moving into Bitcoin and could add $500,000 to its price. If institutions move just 5% of their value into Bitcoin and it does look like they're going to choose Bitcoin according to this wood, it could increase the price of Bitcoin by $500,000. Dan Eve, your thoughts on institutions entering Bitcoin? It's always been like the holy grail, isn't it? The institutions are coming. Like, oh, the big money's falling in. And it slowly does. It's trickling in, right? We've got kind of obviously some of the banks have started buying up Bitcoin publicly or at least providing services for their wealthy clients, some of them even dropping the bar a bit and saying, right, okay, we're going to, you know, we're going to offer Bitcoin services. You've got the future's going live. Got the ETF. There's multiple easy Fs now. So the institutions are slowly eaking in, but it's like a gradual process, right? It starts off slow. There's a few treading, you know, treading water and tipping their toes in. And then it becomes like a tsunami. Everyone suddenly jumps in. They, you know, maybe, maybe if this bull run isn't over, that's going to be kind of what triggers the next stage, right? Of this, of this particular bull run is a few more of these big companies coming in. So it's, yeah, although obviously it's kind of a, in a way, a bad thing. Like, oh, you know, the big institutions, it's the original. It's like the old money, like on Titanic, it's like, oh, but you're the old money, right? At the same time, it kind of, again, it, it lends credence to the fact that Bitcoin is actually sound money because the one thing is that a lot of these institutions are actually, you know, regulated. And, you know, they're very strict and they've got tight internal controls and on around what they put money into. Then it's a good, then actually dipping into Bitcoin is quite a big thing because it means that they've assessed it. They've, they've, you know, they've looked into it from a, from a kind of, what's the word? Like, I mean, well, yeah, just from a regulatory point of view and risk assessment, you know, and, and they've said, right, okay, actually Bitcoin. It's, it's, although it's seen as kind of there's this bad ethos of, you know, the, what's the word? Criminals, it's all criminals and it's all environmentally bad and blah blah blah. There's all the fudge. They've actually assessed it and said actually that's a lot of that's BS. And Bitcoin has overall some really good qualities, especially as, you know, being sound money that can't be controlled by a particular entity. And that's the most important thing, right? It's something that in today's climate where there's money printing like nobody's business trillions of dollars printed, you know, even in the last year. Bitcoin is something that can't just be manipulated by a particular party or a particular government and the more, the more it spreads out, right? And the harder it is to manipulate the currency, the more of a, of a democratic currency, it becomes rather than being manipulated by single individuals. So whilst it's got a bad that, you know, the institutions are moving in, you know, at the same time, at the same time. And let's face it, it will be good for the price. Dan, looks like your microphone changed there at the end. Martijn Wismer, the banks are here. Is this good for Bitcoin? Yeah, I think it depends on who you ask. I personally, I'd like to see Bitcoin remain like our currency, you know, anonymous crypto punks that started it basically. So seeing the institutional money arrive and basically it's a wall of money coming our way. Yeah, good for the price, but, you know, it's. I'd like to see a dip every now and then I don't like to see it always going up because that makes me realize I nearly, I don't nearly have enough Satoshi's, you know, for writing that that that train up. So, so yeah, it's maybe good, maybe bad. I don't know, I found the article a bit weird because it says, oh, it could be 500,000. Well, I say it could be a million, but I'm not saying when. So my prediction will always come true. The price will go up. But when we all want to know when moon, you know, and she didn't answer that question in this interview, she just screamed 500,000. And now everybody is copypasting that while she didn't say when or when that would happen and when 5% of all institutional investors will have allocated some to Bitcoin or crypto, I don't think they will go into like dosage and all the doggy coins. I think they'll just stick to Bitcoin really and probably a theory. But yeah, so the article it was, it was a bit disappointing. I hope to find the answer when will this happen, but that was nothing about it about when it will happen. So for now. Yeah, well, if 500,000, I say it will be a million, but I'm not going to say when that my prediction will eventually come true. So yeah. Well, everyone knows that mad bitcoins is famously predicted the price of Bitcoin will go to infinity. Infinity, yes, the largest number known to man. And it's a bit interesting to think about a tsunami of money hitting us and that being a good thing. It seems like during this tsunami, it'll be pretty crazy after the tsunami, maybe the wave rolls out goes back to normal or maybe we never have a new normal again. Josh, a goal of your thoughts about the institutions finally entering Bitcoin. Come on, when are the institutions going to jump into to crypto punks? Yeah, that's what I put on the balance sheet. I think there I think there was one institution for the credit of hunger. You know that all serious banks hold curio cards. That's true. The curio naturally, of course, especially number 20, especially number 20. Hey, look, institutions have been coming for years. I don't know that I think we've lost touch a little bit on what Bitcoin was about and what Bitcoin was about was banking the unbanked allowing people to hold money that is not controlled by the state, the separation of money and state. And really, we're still on that process. I feel like the lightning network allows for that. On boarding to the lightning network is a little bit tricky. There are some some issues in terms of funding channels and stuff like that for the unbanked. Obviously people live on a dollar a day. It's not really working for them. So, but I don't think it's a lost cause. I think we're still edging towards that. Look, it's an open protocol. If the institutions want in, I think why would you not want to? Why would you want to hold vast amounts of your balance sheet in a unit of account that is being printed out of nowhere at a ridiculous rate. Why would you why would you not hold something rare? If it's going to be gold, it's kind of you have you have costs involved with holding that that are more than Bitcoin. It's definitely a good choice for some people. But Bitcoin is also a good choice. It's just you have to have a CEO that's a little bit more risk hungry because it could just go down 5% and while us in the crypto space, a 5% drop is like, 10% drop is like, like, where more people in the crypto space, they're not interested in slight percentage changes in the portfolio. We're looking for multiples. We're looking for X's. That's how that's how Gargar land we live. And so we've got to remember if you're a CEO, you've worked a long time, you've got your MBA, you've done a lot of work to get where you are. And if your balance sheet drops by 30% because you bought Bitcoin at all time high and it's dropped, you're out of a job. So I think it'll take a while for institutions still. I think what it does do though is protect us from massive dips because I think the institutions for that exact reasons are waiting for dips. And this is we've seen Bitcoin dip below, you know, the 50,000 mark a few times during this bull run as soon as it gets up there, it gets to like, you know, 51, 52, it'll drop back down, but it doesn't, it just doesn't do the big collapse. And that's because I do feel these institutions are like, oh, here's the dip, buy it up. Here's the dip, buy it up. And they keep coming in. So yeah, it's happening. It's definitely happening. But I think they're they won't be buying when it's above 50 for a little while. They're going to keep buying these dips. Buying up the dip works well into the exit question. Last week, the Bitcoin predictor ball, even bigger than the rock predicted that the price would go down. The ball was correct. Now, Dan Eve, will the price of Bitcoin be higher or lower this time next week? We're going to finish the year on a high. Martin Wismer. You know, I think for the next foreseeable future, we'll be going like this up down, up down, up down, because I will see a lot of volatility, the market is a bit shaky. So yeah, well, you know, just looking at the ball won't be able to respond to that. So I'd say up. So I think the price of Bitcoin will be higher this time next week. I think the thing is that most people tend to sell a little bit of profits before they go on holidays before they hit the Christmas. They want to buy Christmas presents. They want to consume. But then closer to Christmas, you tend to get bonuses paid out. And when he put those bonuses, hey, let's chuck it into Bitcoin. Shall we love? Yeah, and they do. So, so I think we'll be up. And no one quoting stock to flow stock to flow in the middle of the Christmas holiday season seems highly questionable. And now the Bitcoin predictor ball will the price be higher this time next week? As I see it, yes, yes, the ball is bullish. So you can make all of your choices based upon a Bitcoin predictor ball moving on to issue two guy who claims he invented Bitcoin loses 100 million dollars in court calls it a win. Yes, good old Craig Wright is back in the news again this week having just lost his lawsuit to Kleinman and not proven that he is Satoshi Nakamoto. And now he's on the hook for a hundred million dollars, which should be no problem. If he would just move those initial bitcoins, if only he had the keys. The court couldn't give him the keys, suing the Bitcoin programmers won't give him the keys, but still he claims victory and most of the mainstream media followed him shout out to Gizmodo for a rare good article from the mainstream media that even properly doesn't name the con man in the title. Whereas CNBC published a tweet and an article that they later retracted claiming not only that he won the case, but that he was proved and was Satoshi. So we've seen lots of horrible articles about this, Martijn Wishmer, your thought about the greatest or the latest news from good old Craig Wright. I am so sick and tired of this man. I don't know why the media keeps giving him any, any, any mention or if it's just a lack of understanding. This is like this guy is obvious fraud. You know, we had what was his name Thomas, they will we had on the show who will prove it basically. Arthur Van Pelt, we tried to get Arthur for today's show, but he's filming another podcast. Be sure to check out Arthur's series. I think it's called Dr. Bitcoin all about the Craig Wright situation. You know, we all we're all Satoshi except Greg Wright because we know he's a fraud and that's still the same and no lawsuit can change that and I'm 100% sure he will never ever pay that hundred million. There will be big problems paying it. He will be waiting for a suitcase with a chula trust thingy and special courier or whatever nonsense he makes up. He's just a, he's just an attention whore basically. He's not even like serious, you know, so no, no, no, I wish we just would totally ignore this guy on the show because sort of Greg, but your whole BS fee bullshit nobody, nobody, nobody, nobody is interested. Oh, what tangled webs we weave when we practice to deceive Joshua, she got a is Greg wrong really Satoshi Nakamoto. The, the, the need to sit like I just don't understand all this fuss and to do going to court and all this money and all these lawyers and all these suits and all this stuff to, you know, to deal with this court case with with climate, I wrote. I just signed the block and then it's done like what you know that that to me feels. I don't know it's just it's sad that there's so many people that are still suck it in by this long tail con job I do feel it's a long tail con. There are, there are people close to me that really love the whole thing and I just can't bear it anymore because I do see it as a long tail con like these court cases, all they do is try to give more credence to this guy that he is Satoshi. And really would have would a cryptographer go through all this just to do that know like it was just signed the king go there you go. But yeah, I just feel that there's a lot of people getting suck it in right now what I feel that this is probably what it is is getting the whole community that's in there to really bury themselves deep as as the media start talking about Satoshi lifting. Lifting the value of BSV through these court cases and stuff and then basically I don't have any proof of this and and you know maybe I'm wrong. But hey, I you know we could see Craig right and Calvin and some of the other top elite in that project is basically pulling out knowing that's a loss cause this is the final horror going through all these long unwinnable court cases to basically make people have room. Of all maybe it is me but what if it comes out the end of the case that it is him it's going to move. So let's buy an hour by now driving out the price meanwhile Craig's you know dumping his bags and getting out. It could be that's what's happening so I would just be very careful with anything with that I don't know you know I don't I just don't study this stuff enough I've got too much other stuff to think about. It was great in the Gizmodo article how it talked about how Craig suing the programmers trying to force them to return his lost keys to him was very unlibertarian and how all these things Craig's doing relying on the court bragging in public not proving that he has the keys not being self reliant are not the actions of the creator of Bitcoin they just don't line up idea ideologically with the creator. So unfortunately though it does keep going Dan Eve your thoughts on Craig writes latest victory. It's ludicrous it's like even you know from from from a publicity perspective whether they won the court case or not the climbers like had something to stand to you know to win from from just the publicity if they if they won then call if not then they they you know they still got publicity from it in a chance that getting a scoop of money from the guy like he just laps up any publicity that he can that that makes him that and anything that's that orders you know like the coba Bitcoin thing with Bitcoin org you know he'll just try anything that's going to you know default in his favor. But I still have a little claim to he's not Satoshi which is that in 2017 went for a meal and within a meter of me he said Satoshi is probably dead by now so it's definitely not him he could prove it he did the BBC thing in 2015 where like he faked it with a like a dollar signature instead of signature like as the the code he replaced some lines and people snoop to out he's been caught multiple times faking documents faking emails and faking whole trails. And still the problem is that the the courts just have to give him like give him a chance to to to say his bit right you know he can come up with something different each time he can take on someone different each time the UK liable laws are ridiculous so he can just like take advantage of that like that that that whole ridiculous thing. And so yeah it's just it's just balls that the problem is that people have got a long shot in backing you know backing a horse right it's like even if there's all the evidence stacking against them there's still people who will believe it they will be you know they'll have in their head they'll read a few stories and no matter what evidence is provided they won't want to go against that evidence and say they'll think to themselves now he sounds like he could be actually you know Satoshi and they will that's it once they're in the middle of the world. They're in they're in and they don't want to look like idiots you know that they you know the people that have kind of admitted or thought in the past that he was Satoshi of kind of slowly back to way. You know they don't want to embarrass themselves by kind of saying that they were fooled by it right because these are a lot of the evidence based people so they slowly back away they disappear in and they you know evade contact with anyone that that mentions his name someone like Calvin he is going to eventually run out of money they can only. They can only pump B S V for for so long before it's just going to die and yeah it's just crazy unfortunately you can't like in it in a you know in a free market world you can't like any what what we will believe in in terms of like you know lack of you know not you know not censoring people you he's just got to speak and people some people will believe him but as more and more evidence snacks against him more and more people will be in complete disbelief and you know what I'm saying is that. In complete disbelief and he'll just have a small circle of flat earthers just circling round him like awful little vultures like thinking they're going to get a few pennies here and there. Ah, and those people would die out because they'll be hungry you know the vulture was always skinny they're always going for scraps and the vultures will circle around him until the scraps and all the scraps of meat are done. He doesn't have the Bitcoin he could prove it he could sign it it's all ridiculous all the ridiculous stories like someone's going to break scutts money someone's going to deliver me the papers and you're going to be in the rain in you know in the 2020 early 2020 that never happened everything's a lie so just like think of all the lies and think about how ridiculous it is believing those lies believe in the flat earth stuff and blah blah blah and yeah. If you want to believe his Craig right then then go so Satoshi then go for it but yeah and then the day you're probably wrong and and like I said Satoshi is probably dead by now I heard from his own mouth. Well the fans right I don't even believe that he's Craig right anymore. Yeah I've read articles where they're even blaming the forgeries on someone else that's not it couldn't have been Craig forging because he was like the IP address was 900 kilometers away from where he was at the time and stuff like this. Yes I have you heard of a VPN. It wasn't me it was the one armed man exit question force prediction yes or no will the Klein Minister get the hundred million dollars they're promised martin wish mayor. No no no he will not be up I just I know he will not there will be dragging on for years there will be no money he will either have hated it all or there will be excuses every time there will be no money now I can guarantee you that. Joshua Chicago. Oh if there's a one man. Korea that comes along with a with a briefcase on the third of December 2022 then you'll get it because that's how cryptographers make sure keys come together they they trust random couriers over maths you know that's that's how that works. Really it'll come true Dan Eve. Our consensus says no. Bonus exit question will I ever get my apology from the mainstream media now that Kathy Wood is saying the price of Bitcoin could go up by five hundred thousand dollars if the institutions the big banks enter now that they're putting out this nonsense that Craig right is Satoshi are they ever going to publish an attraction and apology for all the bad Bitcoin stories they put out all the time they were like it's a Ponzi scheme it's a scam and all the times that they also encouraged Craig right martin wish mayor will the mainstream media apology will they apologize also they could just put it out to dear mad bitcoins right there on the headline don't keep your hopes up Thomas from my experience the main media not just the mainstream media but crypto media too if they make an error they will not correct it they will they at best they will delete the original article and pretend it's if nothing happened but no excuses no they will not they will not they will not don't keep your hopes up and definitely don't wait for for an apology now sorry Thomas but that's the way the media seems to work nowadays I'm expecting one of those huge headlines we were wrong Bitcoin is amazing it's on the moon crazy people like libertarians and mad bitcoins were totally correct we ignored them for years Joshua Shagalla is that tomorrow's New York times am I predicting the future again there's never there's never any apologies from the mainstream and when it is it's in the bottom tiny little bit and the thing is with with mainstream media is that they tend to want to push some sort of narrative from an mark from an advertising agency that's paying them and and if the narrative is out there that's their job done they don't really care for truth anymore we are living in the disinformation age of course so yeah if all I want is an apology will I get it no that relies on the on journalism having integrity and we all know that integrity is very very scarce right now so you're never going to get your we're sorry and if I do I imagine like Josh says it'll be on the bottom of the page it won't be one of those holy fucking shit man lands on moon takes Bitcoin with him now but we'll still wait we'll still wait with hope take ready farms let's follow you check out the WCN clips channel WCN clips has more than 84 subscribers still a chance for you to join right now click that red subscribe button the upper right hand corner learn about right scamming the Bitcoin industry how to prevent script crypto scams and squid game cryptocurrency rug poll on the WCN clips channel just Google WCN clips yeah by the way come on guys click do it we 84 it's been on 84 for a while let's see if we can get it above 100 go there right now and subscribe you know watch or don't even subscribe just look at one of the videos and you're gonna be a new trouble shop a few more in your face and the one thing it's it's because there are so many clips it is always a good idea to after you few to video just hit that thumbs up button so whenever you see a video and the thumbs up button is already on you know you're for ready watch it so that way you know you can use it as a sort of like a handy tool you can also click thumbs down but then you know that that won't really help us that hit it nowadays that's fine we don't care anymore yeah it's also a great time to push thumbs up for this video remember when you push thumbs up YouTube tells other people about this video and then maybe they could come in and watch some intelligent cryptocurrency conversation instead of just the price the price the price have you heard about the price I heard about it moving on to issue three reason magazine the fake environmentalist attack on Bitcoin we've been talking about it for years now but once again we have an excellent source shockingly from the media as the source says one of the starkest arguments against Bitcoin is based on a logically flawed argument that its energy use will increase in a linear fashion as it becomes more widely used the exact thing that I've been saying critics take the total amount of energy used by Bitcoin miners and divide that into the current number of transactions to arrive at a delicious per transaction cost they then project that per transaction cost into the future as unfortunately senator Warren says a single Bitcoin transaction uses the same amount of electricity as the typical US household uses in a month but she's wrong Joshua Shagala what about this terrible environment this fake environmentalist attack on Bitcoin yeah I mean you know it's coming from reason magazine I like reason I'm libertarian at hearts you know tend to tend to resonate but yeah they're spot on I mean I've always hated the analogy of one Bitcoin transaction is equal to me yeah so how does that even work how do you analyze that that's just a ridiculous notion obviously if you create a multi-seag and you do lightning networks you can do lots of transactions but even if you don't even if it's on chain you can't really equate those to anyway yeah environmentalism I mean I still I've said it we've said it thousand million times on the show I think when I talk to miners miners do a lot more exploration into cheaper alternative power sources that are putting energy to waste and actually collecting that and you know finding some rare numbers with that energy that would have gone away anyway more and more RID is going to really great sources of energy humans don't need to be using less energy they need to find better sources and like I said at many times we're sitting on a literal like like so much lava it's insane like heat is just incredibly abundant to the world abundant to to infarum like below the just dig I don't know how far 30 kilometers down you've got maybe 50 hundred let's say a hundred kilometers you'll surely hit some lava like what are you just say what I don't know I get so perplexed and annoyed at these arguments Dan Eve Well it's the problem is it's really easy to kind of break things down and just pick a particular figure and try and say right okay one Bitcoin transaction uses the same as a household does for 56 days and you can understand where Cherokee tribesmen Elizabeth Warren is coming from in that you can you can just pick up you can just you can just pick an arbitrary little bigger but then you know it's just said there's there's lightning network you know so you've you've literally got you know a load more Bitcoin transactions that are bundled up into into second layer solutions then you've got other second layer solutions like you know state change and stuff that are coming in like there's there's all sorts more there's you know the also more that's going on than just a basic transaction on on chain and the fact is that you can sit there and say that it's bad for the environment but there's plenty of other things that are bad for the environment someone's pointed out about the Christmas lights right so Christmas lights which are only on for like what a month a year they use more than Bitcoin does there's we've talked about before like the the the PlayStation and Xbox is on standby just being on standby alone uses more than Bitcoin does a year and this article goes on to say about the market cap well the if you say that it's new it's the 36 ranked country you know if Bitcoin usage was a was a country it's ranked 36 but then if you look at the other sort of 10 you know 10 countries either side the market cap of those countries is it is minimal compared to Bitcoin and that's you know that says something about the use for it to say that it does useless is based on useless transactions is particular because it's based on the security like the transaction these calculations they they're what secures Bitcoin so it's basically people talking about technology that don't understand technology or don't want to understand it. They've got a lot more to gain from making ridiculous statements and you can say it's a chef chef is saying USD is bad for the environment just think about all the money that's printed the distribution of that money the fact that when it's damaged it needs to be replenished coins you know especially you know with inflation going the way it is coins are worth nothing like it the weight of carrying those coins around the human energy of carrying those coins around and the extra calorie like you could go like you could say you know that if you went down to the real level of detail just carrying like a pocket full of change and the energy that requires and the extra food that you need to eat to carry around that money you've got to clean the money you've got to smell the money down when it becomes so worn so just by picking a few figures blocking them out of figure fit thin air it's just it just makes you look stupid and there there's already been proven that miners seem to go there attracted to the cheap and the money is going to be a little bit more expensive. The cheapest energy is excess energy you know and especially the fact that electricity can't travel far can't you know you can't take excess energy from from a power station somewhere and like give it to somewhere else like like thousands of miles away it doesn't work like that so you have miners that are attracted to areas where there's excess energy produced and not to mention the fact that we said about the you know the geothermal power of the earth and the sort of molding of the energy that's going to be a little bit more expensive. So there's a lot of important I and Coring all that but then you've got like you know nuclear you know nuclear fusion which is pretty much kind of just around the corner every every kind of couple of months you hear a new breakthrough in like plasma being like to a higher temperature and and if only we can maintain that like you know the process that happens in the Sun you know we've got unlimited energy on earth let alone if we were to have a Dyson sphere and all that stuff. it's basically BS and it's not going to like increase linearly because of obvious reasons. It doesn't just go up in a graph like that. Yeah, it's increasing at the moment the energy usage but also the amount of renewable energy and the clean energy that we're producing is getting better. So it's very easy to just boil Bitcoin down to a few single transactions and cost of those transactions in energy but realistically you've got to look at the whole picture and there's a context right? Journalism's always saying like there's a context thing now. You can't just take this figure and say blah blah blah make a load of conclusions from it. There's context behind it. So the same thing applies from saying Bitcoin's bad for the environment. You can't just say that Bitcoin uses one transaction, uses more energy than a household in 56 days because there's context behind it. So apply the same rules everywhere and not just to the things you want to apply to and then you'll have the rationale that shows that Bitcoin is ninja. Dyson Vacuum. No. Dyson Sphere. Yes. Martine Wismer. Well, you know, the moment I opened that link and I saw her face, I thought, ah, you're the senator that was against Bitcoin not because of the environment. She honestly doesn't care about the environment because this is a senator that flies everywhere in a private jet. Because security and comfort but her carbon footprint probably, I don't know, it's more than a US household. It uses in one month. So no, no, no, definitely. She is just like tweaking the just just gone but she's just tweaking the truth to her advantage. She is working for the state. She wants to get rid of Bitcoin because Bitcoin will erode the power of the state and it's obvious. And it's also obvious that this senator does not give fuck about the environment. She flies everywhere in a private jet. I mean, if you're such a tree hugging hippie, you fly coach in a regular regular, you know, regular, regular plane. You don't fly private. So now this is this is one of those many examples in the past that would always say Bitcoin. That's stuff that's used by criminals, just criminals. Not the nurse in their attic with the cats, you know, no, no, no, no. Bitcoin was money for criminals. And this is fading because everybody sees that everyone with a little bit of pocket change to spare is investing it in Bitcoin. So now they're pushing the carbon footprint agenda. It's not working. It's just wrong. The conclusion she makes is wrong as Dan says. So, you know, this is all about control and it's so obvious that I don't understand why mainstream media is even picking up on this. You know, they're not checking any facts. They just copy paste the whole thing from a politician that wants to publish their agenda. So no, no, no, no, no. But it's a good article. I think it's worth reading, definitely worth reading. It's one of the few articles I read on Bitcoin and energy consumption that actually makes sense. So, you know, I added reason to my bookmark list for news, definitely good reading. Good. By the way, I just had a quick look. I mean, the earth's mantle, which is just underneath the crust, which is you have to dig about 50. 50 just he just looked. He dug that there was a lot of 70 kilometers down, right? 50 to 70 kilometers down. 50,000 degrees Celsius. What's the problem? Why are we still talking about energy being an issue on this planet? Why are we digging up oil and burning it to create steam when we can just dig a hole a little bit deeper? I don't get it seriously. There's enough lava for everyone. Seriously, just ask the people in La Palma right now. Yeah, well, my brother's house got flattened by all of that. And that's what I mean. There's enough lava for everyone. All you need is lava. And I just want to read this section again. It says that the environmental argument against Bitcoin is based on a logically flawed argument that its energy use will increase in a linear fashion as it becomes more widely used. Critics take the total amount of energy usage by Bitcoin miners and divide that into the current number of transactions to arrive at a per transaction cost. They then project falsely that per transaction cost into the future. It's wrong. And you should pull this up whenever we do the environmental story because I'll just read this over and over again. Exit question. Blah, blah, blah. What will it feel like when the how long until the environmentalists get it that Bitcoin encourages renewables, encourages good energy use and can even use hydroelectric dams to fill up batteries, other things like that. Six months, two years, or never, Joshua, Shagala. You're muted. Two years. Dan Eve will it be two years? I think it's going to be never that there'll be people still holding onto it. Just because they don't like it, they'll just be saying forever that any use of electricity that isn't an absolute necessity for something they specifically support is a waste. So they're always going to have the naysayers going, yeah, the environment. Martin Wishmeyer, will the environmentalists come around? No, they'll never shit up shut up because we have three hugging hippie since the 60s and they will always be there. And that's then pointed out as long as they don't have a use for it, they will blame someone else that they are wasting their electricity. So no, no, no, the tree hugging hippies will always be around. Hey, I'm a tree hugging hippie. I like hugging trees. That's why your face is so big today. I noticed my going to the forest, which I live right next to everyone says hi, everyone's happy. If you walk around the city, they don't say hi. They say cool to talk. Very good. Looks like I think they'll come around in two years. I just again want to be there on the other side when the environmentalists are all with us when Greta's out there saying, we need to change to Bitcoin. We need to switch to a better money. And then we can have better priorities, maybe a better planet, or we could just let the rich people take all of our assets and go into space and be stuck down here with the pollution and everything else. Speaking of landfills and dumps, garbage dumps, it's back again issue four, half a billion dollars in Bitcoin lost in the dump. We've been covering this story for seems like years and years now. It was much less money before this poor sad Welshman threw away his hard drive full of Bitcoin by mistake. He knew it was a mistake then he did it by accident and every year it's just gotten worse. At one point he was attempting to form a consortium to search the garbage dump. Now it looks like he might be able to purchase the garbage dump if the half billion dollars in Bitcoin is really there. This is one of those great stories that keeps getting worse and worse and worse and we keep going up to higher levels of media. Now it's in the New Yorker magazine and the guy is describing his day as if he went to a psychic or a hypnotist to bring him back there and he has every detail and I had I had mustard on my sandwich and I put the hard drive into a black plastic bag and all of this stuff it's detailed after detail still no money still no realization that he could have just bought Bitcoin again. He's like oh it was a mistake to throw my Bitcoin away. Maybe I should just buy some Bitcoin. Instead he just do his article after article about how sad it is. He lost more and more money every year. Dan Eve it's up to half a billion dollars. Do you think he'll be able to buy the dump now? Will this story ever end? It's going to drag on forever right? His for every known as like it's like the Bitcoin pizza guy except it's less kind of you know less cool right because the Bitcoin pizza transaction was like the first recorded transaction. This is like it would be cool if he if he took it the right way and started bragging about it. I threw out half a billion dollars. I've thrown out more money than anyone in the world. I'm the best at that. Yeah but he's like I'm the biggest trash victim ever. I think didn't he default to like he tried to get like funded to be it by BSV and B cash or something. I'm pretty sure that he tried to like he started naysaying on Bitcoin. He went through a period of probably really being pissed off and being like well Bitcoin's crap if I had it I probably wouldn't have blah blah blah. But the fact is that even if he'd have had that you know held the Bitcoin it's probably quite likely and he's in this story he goes back about his trips to Disneyland and trips with the lads. He probably like everyone else who had Bitcoin early days would have sold some of it and probably quite a lot of it because he would have gone oh shit it's gone up to a dollar oh no what am I going to do. I'll set you know and so the story that that he that he actually lost it is probably like you know just that it's almost like a aside issue right because he would have he wouldn't probably wouldn't have kept it. There's very few people that actually would have held on to all that Bitcoin the whole way up to half a billion and been like no I'm still not selling. So it's kind of it's kind of a nice kind of fair retail story it's like that I could have had half a billion. Once I had when I was mining in like I started mining like 2013 I had like in 2017 I had a load of like dot that files that I renamed it I was mining all sorts of crap from like Flappycoin to to every thing yes I know I know really bad Flappycoin loads of different random stuff and and I put the dot I had one one file which is a dot that and it was like it was like ddc and it was like and then it had the balance after it 335,000 and I was like which coin could that possibly be and so I put it into a dash wallet and because it was just a bog standard Qt file like the dot that file it I loaded up the wallet and it showed a balance of like 330,000 and this was when dash was like $1,100 or something and I suddenly thought I was a half billionaire I was like wow this is amazing but it turns out that I couldn't spend it all it did was just show the transactions that are in and you couldn't do anything with it so at one point I thought I was a half billionaire but the fact is even if I had it along the way I would have sold it like most people do you know there's very very few people that really did believe in Bitcoin that much that they actually held every Satoshi you know it would have gone from a half a billion he would have gone down to you know you know I know a couple of hundred thousand dollars by the by the time that he'd gone on his Disney holidays and all the other stuff that he explained in this immense detail in the article which seems to be like getting more detailed each year like he's like hi it wasn't just eggs there was a speckle on the eggs like by 2028 he'll be like oh there was one particular reg and there was a there was like a shadow on it and it almost looked like a bee and like you know it's just going to get into more details it's going to get him interviews and it's pretty cool and it's very lovely story and stuff and it's frequent because it's in a small you know new portable Welsh village and he could have put whales on the map not say he's not on the map but you know as in you know he could have been a half billionaire just strolling around whales with his half billion of Bitcoin but yeah unfortunately it's just a very sad story that he did lose the hard drive but it's also a very cold but lovely story for everyone else who thinks that the more Bitcoin's lost the better for the ecosystem. I do love the mainstream media's thirst for this story and I'm sure they'd adopt your story too Dan if you just tell it a hundred times I mean I had a story once where I looked at my wallet and I didn't have my glasses and I thought it read you know a hundred million dollars but it was only a hundred dollars because I read the number wrong and pretty soon I'm going to be giving interviews to the media every store every year and they'll be like do you remember that time that you thought you had a hundred million but you only had a hundred what was that like what would you do with all the money oh it's so good that you saved it and everything you could just misread your wallet for these people they'll love it they buy anything. Martín Wismer your thoughts on half a billion dollars in the dump I have to agree with Dan here he would never have kept the Satoshi's he would have sold off way way years ago and then he was the guy that sold a lot of coins at the low price and that's not nearly as interesting for the media because we've all been there I mean people are more or less hardwired in their brain to sell when a thing's are times two or times five or times ten there is a sort of like chemical reaction in your brain that will just make you press that cell button and put the order in there is no way he would have kept that five hundred billion million gazillion dollars now that's that's just not happening I mean we've all been there we've had you know lots of Bitcoin at the time and we had pills to pay we had parties to attend we had presents to buy during Christmas we had like you know we had we were happy that Bitcoin hit one dollar at the time so you know one dollar fantasy coins is worth one real world dollar so yeah what are you doing you're selling of course not realizing that you know the year later it will be ten dollars for a Bitcoin and then you think oh damn I spend so much on beers and coffees I can't believe it so now this person with this trash story I know I it dance as he probably went into B.S. fee that makes perfect sense because you know if it's on the trash ship if it's on the landfield and that's where the B.S. fee is to be found super only so yeah well and I wonder if they'd edit the blockchain to give him access to his coins on B.S. V. we've often talked about how fake Satoshi wants them to give him all of the Satoshi coins because and this guy also lost his keys also very sad maybe he'll just be given all the keys if he could provide no progress the developers of Bitcoin will do that yes while they're at it I also have a hard drive with 11 Bitcoin on them it's ss ed that's really that that didn't last for two months so yeah there's 11 Bitcoin on them fortunately it's encrypted I can't access it the drive is broken so while they are like reprogramming the blockchain I would like to have my 11 Bitcoin back to thank you in advance well and they just have a Google form now you can just submit it you don't have to provide any proof you don't have to move the coins have the keys anything like that your story right there that's worth 11 Bitcoins like right there yeah and yeah you should you should have said 12 obviously well it's 11 Bitcoins plus the coins after the fork so there's some B cash stuck in there and there's B is fee probably in there then so yeah yeah I could be a rich man and you never would have sold it it would have hold it held at the whole time so easy Joshua Shagala will this guy ever get his money back is the first line of his obituary and his gravesite going to leave here lies a welchman he dumped his Bitcoin into the dump yeah absolutely no it's tragic the poor guy like he just can't get over it but the thing is all us early Bitcoins have these stories like it's it's really if you if you don't then you do and you don't want to admit it everyone's lost Bitcoin like the original Qt client was so sketchy it was hard to use it crash so you throw away a file here and there you'd write reboot your computer and like or reformat and you're like oh forgot the Qt you know all sorts of stories I mean I don't know I'm hoping he's getting paid for these stories we have now hit new record highs where the new yorka has a beautiful animated image of Bitcoin spinning always the same Bitcoin with the graphic of the chip inside but yeah it's really unfortunate he can't get over I actually know also some people personally who lost Bitcoin and just haven't gotten over it yeah like in the butterfly labs rug pool and like all the way you know like oh shit we've seen Dan pull a regret face there to yeah like it's just part of being in Bitcoin you know you want to support certain projects or certain mouthgawks crepe sea bitfinex yeah you know forget the bit instant instant instant wallet yeah it's almost Bitcoin I lost Bitcoin but the media it's a nice headline and you know I'm just waiting for the trillion dollar mark now I'm waiting for the trillion dollars in the dump let's see when that happens well it didn't his his wife or girlfriend at the time throughout the old hard drive or something wasn't that like decays he put it in the bag but she took the bag to the dump yeah I'm the reason they took their trash directly to the dump which seems like an odd thing to do but a situation you think they're divorced now you're because some of these reasons for the divorce right some people call it wife changing money moving on to the exit question yes or no will he ever get his money back Dan Eve no it's a no I mean he gave all sorts of reasons why the disc would be recovered and stuff like that and he said I think he even gave something he'd like to say NASA managed to recover 90% of a disc that got burned up in a in a satellite coming down or something but I think he's just wishful thinking unfortunately and you know just got to be saying goodbye to the Bitcoin we could get NASA working on this they're not doing anything else martin will he get his money back no Thomas of course not his shittical Schumer grade hard drive has is long gone it's buried under like meters high pile of you know fast food wrappers and greasy stuff that's been eating on the electronics for no no no just no that's it Joshua Sagala come on give this guy some hope he's he's gonna buy the entire dump it's half a billion dollars he'll form a consortium called the treasure hunting garbage crew and they'll go in there and they'll buy the whole dump they'll sift it all for hard drives it'll be not magnetized it'll be fine it'll be ready to go tell this man he's gonna get his money back well yeah look whales they they have a great national answer whales unite whales will fight whales will go eating plankton whales will be whales are nice whales full of spice and we don't like to be ranked on it's a Derek and Clive the whales national anthem that's all I got to say for the poor guy I don't think you'll find his hard drive I think we've got one last joke it says on the card that unfortunately whales is spelled without the H if only he had lived in whales he would have been crazy rich but he lives in whales so moving on to issue five the U.S. government has seized a record one billion dollars worth of Bitcoin a year ago now it's worth three billion dollars yes as we've talked about in the past the U.S. government should not have sold their Bitcoins over and over again as it says in the article from NBC News the U.S. Marshall service has sold off more than 187 thousand Bitcoins taking in a poultry $179 million if they'd held those coins they could have brought in 10 billion dollars nearly 56 times as much as I predicted live on this show over and over again the U.S. government should have held the money to fulfill the Smithsonian Museum's dream of one museum per state we could have even moved Washington DC to the middle of the country so that more people could enjoy it we could have picked up the monuments physically by helicopter and flown them to Iowa or Kansas no problem at all there'd be museums everywhere the world would be a better place but instead the U.S. government sold those Bitcoins to draper and other capitalists let's see we'll go to martin wish mayor should the U.S. government have kept their Bitcoins what a tragedy they could have built so many museums it's funny this this was my story of the week article last week and it just came out well two hours before we went live and so I mentioned it and and sorry Thomas I completely forgot your question you actually had a question what was the question again wouldn't it be great if we built all those museums what a loss and now you know for you didn't ask me that question because culturally I'm as flat as a pancake I'm only interested in Bitcoin Bitcoin and Bitcoin I don't even care about the altcoins per myself you know so no it's from what I understood in the article last week was that these Bitcoins that have Bitcoin that has been confiscated now is actually confiscated after analysis by chain analysis and this was like you know silk roads before they went down was hacked a few times so somebody stole like all the coins and this is what happened with those coins those coins went somewhere and previously they noticed because they just were just focused on the Ross and Dreadpyrid Roberts and he has to hang and we'll get him in jail and get a grid of the silk roads and grab the wallets but they forgot that somebody else already like snitched a lot of coins away from the silk road before that happens so those coins are actually now like they're found and I really think there will be a little bit of a price dip when they these come on the markets unless they're sold in an auction but as I said last week Michael Sailor will buy them all as everyone knows that's the goal of the United States government to spread peace love and museums I remember after 9-11 when the Christian president turned the other cheek and bombed the world with free hospitals and free food people were so happy they were like I hate America but I love free food I love free hospitals and I look forward to those museums they said maybe even worldwide we could build Smithsonian's Joshua Shagala is that what the US government should have done or in a libertarian fashion are you going to say it's good for the government to sell the Bitcoin yeah because we all know governments are good at one thing and that's monetary policy they're really good and museums and museums governments you know if you want something done with money you know that they're going to spend it well governments are fantastic allocating capital it's been proven countless times over and over in fact there's not one case where a government allocates capital badly of course I'm being totally facetious here and and you know what Tim Draper actually allocates capital very well investing in a lot of startups and and actually putting money to work building jobs allocating capital well so I am super glad that they got rid of it and gave it to a capitalist that actually understands where to allocate capital I mean that's the name a capitalist understands where to allocate capital and create jobs create wealth create you know more stuff so yeah maybe someday Tim Draper and I can collaborate together on a Bitcoin museum Dan Eve what could the government have done they were it would have been stuck with 187,381 Bitcoin around 10 billion free dollars well I suppose that they're like any other people that sold off Bitcoin they're like the the same story of like the Bitcoin pizza right they sold it really early and they could have had all that money but should have would have could have like everyone you know you look back and go well what if I held that Tesla stock but I had to do something with the money or whatever you know the it always kind of you're always looking back on a situation that's good and people rarely but look back and be like oh I'm so lucky that I sold that whatever shit coin at that price because it went to zero you know you don't hear money you don't have stories like that like hero sells the top like you you very rarely hear those stories you hear like someone sold X really early and they could have made loads of money wasn't it like wasn't it like like he sold like loads of his apple shares as well really early or something like that he you know so these these are the stories that the could have been stories are really cool and like going back to the hard drive it the thing that kind of I think that titillates people was it were is the fact that the money is out there somewhere in the ether right that it could be recovered so it becomes it could be this treasure map type mystery event but I think what's interesting about that that hack is that our friends at chain Alice snitch found the coins last year December no November 3rd 2020 and so if you think about like this someone held like a billion dollars of Bitcoin that they'd hacked all this time and then suddenly got it snatched snatched by the feds like how did that happen like I that probably bought a coffee or maybe they tried to cash out on an exchange I think they they they they they when do people get get get caught with with like dirty coins is the moment they're trying to cash it out so instead of like catching it out let's say a bit stamp or crockin or coin base they should have like bought moneroed and sell it for ether then do that all on the decks and then gradually cash out yep and they probably and that's it just a real easy way of being caught you know dropping your guard for one second dropping your anonymity that's it the feds are in they jump you in when you're in a library like and you're not being careful but I think that's the crazy thing about it the fact that the coins were actually held for that long they were you know they were stolen in 2014 and it was six years later in 2020 that somehow chain Alice Nitch got found out where it was told the feds nice one guys and then I'm gonna mention the guy like checking you know a block folio every day though every day I think it's Thomas with your question right three billion dollars is not you know the American government printed two trillion in the first quarter of this year like trillion like it's not like they care they can create money out of nowhere and create your Smith Smithsonian's like they they just don't care about that stuff they're like there you go all that money printing and not a single new Smithsonian museum not a one that's a shame moving on to the exit question will the government now sue the Bitcoin developers asking them to edit the blockchain and return the Bitcoin to them they pushed the wrong button they fat figured they didn't mean to sell martin wish mayor will the government sue and also claim that the government is the real Satoshi and I think that's the good thing with Bitcoin is that even though the government might want to change the blockchain it's distributed all over the world it's it's it's it's it's it's impossible so now the government will not be able to get their Satoshi spec oh come on Joshua the government used to own this Bitcoin why can't they just have it returned to them you know they used to own it they can own it again once it's gone it's gone it's the beauty it's the pain and the beauty all mixed up in some chaotic poetic manner Dan Eve who's gonna tell the government that if it's not your keys it's not your coins I believe because it was done on a computer they can just press control Z and it will be returned to them and if not they'll just do what they did during like the the gold stealing era where they just told everyone you've got to give your gold to us so it would be like you've got to give your Bitcoin to us and that that's probably more likely than getting developers to actually hand over or change the code and change convince all the miners to give the gold the Bitcoin to the American the government we do have some questions in the chat remember you can ask your questions now in the chat uh let's see screw asks what if you only lost the keys to your Bitcoin can you still claim them through the form yes even if you've lost the keys you can claim the Bitcoin as Craig Wright has shown you you don't have to have the keys to get the coins you just need to make the claim over and over again so if you fill out the form and push refresh and just keep putting it in there uh maybe someone will give you the Bitcoin if you don't see the form you just have to click the thumbs up button and the form will automatically disappear we have a bonded career who is bringing us the form they've been working on for several years it's called the flower fund it's very safe safe food safe food you know the the thing that the guy if he had a couple more brain cells that lost the hard drive sorry mate if you if you do actually have some brain cells if you're watching this but um you could actually tokenize the loss and say hey it's worth this these are called the hard drive coins and they're never going to be found or spent and these represent those they sell at less than a premium so they might be less than a Bitcoin for sure but um you know see this is what experimenting with economic theory does they did it with the there was this the big stone that represented money on this island and and people would like they had their own sort of way of determining who owns what because they had some sort of consensus mechanism that everyone on the island knew oh now that person owns like that part of the rock and that was money and you would trade your little parts of a rock anyway they ran out of place for this rock I forgot what it's called the island of something or other but mad you probably know the rock is behind Thomas right now that's the goonies rock going back to that guy I think he made a mistake telling everyone that he lost his bitcoins he should have moved behind the scenes to purchase the landfill now that everyone knows there's half a billion dollars at the time of this show in a landfill it seems like someone else who's maybe a little sharper a little quicker or something we're being mean to this poor guy but somebody else will put together a consortium because he hasn't yet apparently and they will buy the dump someone else could end up with his hard drive how many landfills are there in this village right he lives because I don't think he knows the one he claims it's the one he's he's they've even you know they've talked to the trash people and they're like yeah we used to bury stuff over there and not for you know and not five we switched to this lot you know so he got a lot of choice it's they know right where it is it's easy but just to quickly finish my story what happened they ran out of space with this rock they went to the people on the island went to get a new rock to add like some inflation and on the way there's big storm in the rock fell but they continued the monetary policy they just said well we know where it is there's not going anywhere it's there and so and so it owns part of that rock now and so they didn't actually need to have it on the island and this guy could do the same sort of thing that reminds me my favorite story about rocks from the Simpsons Lisa says to her dad she says dad that's species reasoning by your logic this rock keeps tigers away you don't see any tigers around here do you and Homer goes Lisa I would like to buy your rock we're running out of time we're moving on to predictions forced prediction I warned everyone before the show it's coming back Dan Eve make a prediction go ahead I predict that I will have just as much trouble making a prediction next week as I am having trouble making a prediction this week and I think that my prediction will be that I don't know I don't know I failed I failed okay okay I've got it I've got it I've got it Elizabeth Warren is gonna she's gonna buy Bitcoin and then start shilling it next week she'll be like oh I overlook the environmental stuff and then she's like looking at block folio as she's doing it hoping the price just suddenly jumps when she says it that's a great prediction first the postmodern anti prediction prediction followed by the amazing turnaround prediction it's got a little bit of everything martin Wismer Dan's a tough act to follow what do you predict I predicted Michael sailor will probably buy those bitcoins from the US government has been stolen from the Silk Road hacker or sorry the stolen coins from the Silk Road that have been recovered by Chen and Alice Niche so yeah Michael sailor will buy them all it will buy them like off of chain or not off off the market so the market won't dig too much but I think that will happen within now and a year so that will give me some time for my prediction to become reality it's never too late for Michael sailor and Tim Draper to join with mad bitcoins to create a bitcoin museum they can pay for it and all help build it Josh Wishigala forced prediction what will you predict well I predict that we're working on a prediction market to determine interest rates on the stability fees that we are doing on the standard yeah that's the best kind of prediction you're predicting that you're predicting a market that you'll predict that you'll predict a market it's a circular prediction there goes on forever it's crazy you go mad when you think about it quite mad all the best ones are Dan Eve story of the week what's exciting you this week oh boy I've already been caught out by a prediction my story of the week was that my story of the week was that everyone last week was wrong about the their prediction which was that the show would be on a Friday so ha ha and ha no I didn't predict that that was your prediction no no no I was the prize up guy you were there once it and he's laughing at himself no one to blame but himself martin Wismer story of the week we made a small modification head on to the every trade IO where now you can just enter your ethereum address and it will show you on your every trade.io portfolio it will show you your mega profits you made over the past year and if you didn't cash out then it will show you that you made the right decision because the price is up again so if anyone has assets they want to see added just let us know at via the support link on every trade.io because we can add any pair you want so the idea is to be the most comprehensive accounting package for crypto not just bitcoin ethereum and all the big guys but every single coin if you hold the back of the weirdest weirdest crypto you've ever seen just let us know and we will do our best to add it to your portfolio including gold like from the standard that will be cool I think we need gold prices on there definitely but that's something for for a future. Josh was shegala story of the week well and on the 14th we're doing the private distribution of the standard so check it out. Boop boop we need a party yeah yeah it's been so much work and the community's massive now it's really nice to see everyone discord I never really used discord much until recently and it's so good like it's so powerful and it's so much better than telegram it's just telegram is a horrible thing it's great for like telegram yeah really like telegram is good for like I like the paper airplane icon I'm sold by the icon I like stickers stickers but instead I like the Mickey Mouse pants of discord that's uh that's uh that's all I see is Mickey Mouse pants but yeah check out the discord uh going to the standard. I go sign up to the white list and uh yeah get amongst it all right don't you realize the next time you see sky it'll be over another town the next time you take a test it'll be in some other school our parents they want the best stuff for us but right now they've got to do what's right for them because it's their time their time up there down here it's our time it's our time down here and that's all over the second we ride up Troy's bucket there you go there's your goonies lines check out the goonies rock I'm in Oregon today thanks to everybody for watching giving us a thumbs up put a comment down below if you're watching the show later that lets us know it still works thanks to everybody in the chat and be sure to push them scribe down there uh goonies never die until next time bye bye