The Bitcoin Group, the American Original. For over the last ten seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Dan Eave, the crypto-raptor. Hello, Mary Festive Friday. Bradley Retler, Philosophy Professor at University of Wyoming. Hi, thanks for having me. Josh Jagala from thestandard.io. Why greetings all waking souls, you beautiful beings out there. Martin Wishmeyer from General Bites. Hi guys, thanks for having me on the show. And I'm Thomas Hunt from the World Crypto Network. Moving on to issue one. Issue one, Bitcoin may not last that much longer. According to an academic at Cornell University, Bitcoin might not last that much longer. Bitcoin has been highly volatile, and while the blockchain underlying technology is interesting, its Bitcoin's use of blockchain is not very efficient. Yes, the classics are back again. As we talked about last week, the environmental message against Bitcoin, as Reason Magazine said, 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. Critics take the total amount of energy usage by Bitcoin miners and divide that into a current number of transactions to arrive at a per transaction cost. They then project that per transaction cost into the future. And Eve, what about the end of Bitcoin? Will it last that much longer? It's just like the same old crap repeating, isn't it? The end of the day. They're saying, oh, it's the kind of Bitcoin obituary. It's saying that's pretty much calling a death to Bitcoin. It may not last that much longer. That's pretty much saying it's going to die. There's no real reason other than saying that he's given other than saying, oh, it's going on the environment thing, but that's not going to shut Bitcoin down. It's not like the miners are suddenly going to go, oh, my God, it's back in the environment. I'll just shut everything down. Pack the ball up, boys, we're going home. They're not just going to go, they're going to go, oh, it's really hard money. It's so hard that I'm not going to pack my miners up. The other thing is that the art agreement is like Bitcoin's price has been so highly volatile over the last few years. Every year that it's been around, it's been extremely volatile. But you could say that the dollar isn't actually the more volatile part. Because of the fact that especially the last couple of years, the last year or so, what's it? 40%, something percent of the dollar has been, value's been printed. That's an incredible amount of monetary inflation to be happening. So yeah, Bitcoin's highly volatile, the prices, but I think we're still massively in the price discovery era. The fact is that there are other cryptocurrencies, and I think they say they do a better job than Bitcoin. I'm not sure what it's referring to exactly other than just that they use proof of stake. The fact is they don't do a better job than Bitcoin in doing the thing that Bitcoin is best at, which is being the most secure network on Earth. So you can't possibly say that other cryptocurrencies do a better job than Bitcoin, because one of its principles is it's a very secure cryptocurrency that's solid as hell. And it can't just be changed by a centralized entity as the whole point of it. It's got to be changed by a long and thought out. Development process, right? You can't just change it overnight. The hard forks are very few and far between, and you'll never change something like the money supply. There's no way miners will all change the supply from 21 million, which is capped. So to say that other currencies are better than Bitcoin is just poo at the end of the day. Professor Retler, Cornell says that Bitcoin is done. Is it over for Bitcoin? Well, you know, as a fellow academic, I think my opinion should count just as much, even if I'm not at a fancy Ivy League school. But no, I mean, I think as has been pointed out, we're seeing a lot of the 2017 critical tropes get trotted out again. And this is the same guy that wrote an op ed in the New York Times in June called the brutal truth about Bitcoin. And this is just a repackaging of I think the same stuff that was in there, where the idea is that the real innovation behind Bitcoin is the blockchain. The Bitcoin itself is is no good. And the blockchain though is here to stay. And the number of times that I've heard that as the price of Bitcoin keeps climbing as countries declare it legal tender as companies put it on their balance sheet, it just keeps happening. And it's something early on that I think a lot of people are attracted to. So you find out about Bitcoin, you learn a little bit about it, you hear about the blockchain and you think, oh, what else can blockchain do? And then the more that you research what blockchain can do, you realize that's really not that useful for many other things. It's useful when there's no trusted authority about something. It's useful when you want to track something that there's an incentive to double spend, you can't trust everyone or anyone. And it's useful when the thing that it's keeping track of, it can't be wrong about. So if you try to, he's talked about using blockchain for voting and for real estate, but the problem with using blockchain for these other things is the blockchain can be wrong. So what's interesting about the Bitcoin blockchain is that if it says that some Bitcoin is at an address, it can't be wrong about that. What it is for Bitcoin to be at that address just is for the blockchain to say so. But if we have a blockchain that says that I have a certain book in my possession, the blockchain could be wrong. Someone could come in and steal the book. So there's the problem with blockchain when it's not applied to money. And I think we found that the real use case for blockchain is to track digital money. And that's what Bitcoin is. So I think it's far too early to call the death of Bitcoin based on ideas that have been around for a lot of years and have not yet come to fruition. Digital money and digital collectibles, blockchain collectibles. Josh Egala is blockchain better than Bitcoin back again. Look, it is such a typical trope that gets pulled out every, I mean, this guy, if brains were dynamite, he wouldn't have enough to blow his nose. Honestly, this sort of nonsense is ridiculous. First of all, you can't have blockchain without some blockchain. Like, can we put a the or a in front of that by the way, first, we aren't living in 2013. But if if you want blockchain, you need a currency because the currency is the incentive to secure the blockchain. And it all works and assists me. You can't take it away and just expect people to start hashing blocks for nothing, for not they are doing it for, huh, guess what? The currency greed is helping humans secure a blockchain. And it's just ridiculous to split the two. It's stupid. Get over it, stop it. Go back, set the time machine back to like what, like six years ago, when a theorem or five years ago in a theorem launched and push that forward. Good on you. Martin, my cousin's got some blockchain in his van. He'd like to sell you. It's a really good blockchain. Blockchain good Bitcoin bad. You know, we've been here. We've heard this so many times back in 2017. Back when I was still living in Amsterdam, you'd have all these corporates. They would all start about blockchain, not Bitcoin, blockchain, Bitcoin bad, Bitcoin criminals. The blockchain, you know, we're going to put bananas on the blockchain because all the bananas will be on the blockchain and stuff like that. And everybody would just add blockchain to whatever they were doing. And it would be the success we all done. The blockchain. The blockchain. No, just the blockchain. Yes. And it's ridiculous in a way that this is still being published. It was on MSNBC, I believe. Totomas was MSNBC. So it's like, you know, they should do proper editing. You say, well, sorry, but you know, 2017 calls. They want their third article back because this is not really working. But yeah, as Jörg said, you need a, or I think Bradley just said, you know, if you start tracking stuff on a blockchain, you know, it, it, it, it, if it's in the name space, like, for example, Bitcoin is on the Bitcoin blockchain. So Bitcoin blockchain will know everything about Bitcoin and will know all the transactions or the addresses. But if you start adding, say, bananas onto the blockchain, who will be the one that says, no, this banana is on that address and you know, you'll need a third party or a centralized or a call or whatever to actually link that to that blockchain. And that's where the blockchain is often wrong or ready to hold decentralization thing falls apart because there is some form of centralization. So there is no use putting your bananas on the blockchain or saying that the blockchain or a blockchain or a blockchain. And it's just, it doesn't work. The only real application we've seen so far for blockchain or the blockchain or it's a, it's Bitcoin because it's digital cash. All the others are are just, you know, like desperate attempts to get something faster cash. But, you know, like, Hey, I mean, I get all my news from Squawk box. Oh, yeah. Anything called Squawk. It's got to be good. It is great to see the, the same stories year in and year out again, the same media attacks on Bitcoin. I know exactly how to solve this problem. We'll put these stories on a blockchain. It's crazy, isn't it, how like the, the, the, the, the, the, the, the, the, the, the, the provenance thing was like, was so big in 2017, it was like, everything was going to be everything that could be manufactured or, or, or taken, you know, grown or whatever, like grapes. I remember grapes. There was like multiple vineyards sort of ones. It was going to be, we're going to put it on the blockchain. But people forget that, you know, crap in, crap out. Like if you don't record it correctly, then it's, it's, then it, then unfortunately, your, your glorious blockchain has recorded it wrong forever. So it's actually bad in, in many situations where you've got that, you know, labeling has gone wrong or something like that. And that's, that's what was so great about IBM who kept talking about the diamond blockchain in their commercials. If you misreport the diamonds in the beginning, all you have is a blockchain or a spreadsheet of misreported information. Yeah. And a, a, a, a, when you said the grapes, I started picturing them, trying to get a barcode onto each individual grape and then putting each individual grape into the blockchain, because you're going to need that, that level of surveillance of your group. Remember berries on the blockchain. Yeah, I was going to say, you're harder on member berries. It's never going to work out. Oh, I remember the thing is that, remember 2017, really, there's, there's no much, there's not much difference from a Merkel tree on a centralized database where you could Merkelize, have these, have these hashes in a hash tree and keep snapshots of databases, hash them, keep the hashes, hash the hash with the hash. In a centralized manner, and maybe like if you want to do, for instance, I don't know, you want to follow fish from the ocean, you could as a company say, look, we use a third party and that third party is verifying the information and that's kind of enough for most people for certain stuff. With money, however, decentralized financial thing on the internet that we all used to transact in, you definitely don't want a third party. This was the whole beauty of Bitcoin. And just to throw everything under the same bus and just say, and I'm not saying that there aren't use cases because I think there are other use cases to store information on digital ledgers. But just to say that you don't need a cryptocurrency and the cryptocurrency boring, like how many times do you need an immutable ledger in per day, anyone? I mean, I'm pretty sure I need my wallet multiple times every single day for something whereas an immutable database that's really slow and crap. Well, and the Merkleized Database Infrastructure that you're talking about, Josh, is just not good enough because my department could raise 10 times as much money for our project if we just call it a blockchain. If we just have it confirmed by miners, again, we don't have to worry about the incentive structure of why the miners would mind the chain, i.e. to get the currency, the Bitcoin, the proof of work. If we just ignore that and have federated or controlled miners, then we can do it. We get 10 times the money. And if you really wanted to, you could just like, you could surely just hash, you know, put periodically hash the database into Bitcoin and just to test it to the Bitcoin blockchain. And then you've got your kind of immutable, like proving the current state. Some arch database administrator could get in there and he could rig all of the mining servers that are federated at the same time, all eight of them, one through eight. And he could get them to print a false transaction and then he could steal all the company's money just like psycho and I'd be like, he's stolen the money and the whole thing starts over again. But are we really afraid afraid of these rogue database administrators? I think they're well paid. They like their jobs. It's a pretty sweet job moving the numbers around. All of this was to protect against that. It only makes sense if you do Bitcoin. I love all the proof of stake people banging the proof of stake drum, but proof of work just keeps working in the background because it does work again, not for spam protection like it was designed for, but for Bitcoin. It's just like NASA. We have these great stuff like Velcro and other things where we intended it for space, but it turned out it was great for fireproof suits. So moving on to the exit question predicting against the Bitcoin predictor ball, the greatest predictor of Bitcoin price and the history of Bitcoin price. Will the price be higher or lower this time next week? Be sure to let us know in the chat. Give us a thumbs up and shout out. Everyone should be shouting higher, higher or lower. You can whisper that one. Dan Eve, higher or lower predict against the ball. Well, I said lower last week because I assume that it would go higher because I'm usually wrong every week. But since it's lower this week, I'm now going to say higher because I was correct last week and hopefully I'll be correct this week. Bradley, higher or lower? Still trying to understand what Dan just said. I have no idea. I don't really pay attention to week by week prices. I think Bitcoin has value and people are slowly realizing it. And I don't know how long it will take more people to realize it, but if it could be by next week or it could be longer than that. It was the accent through you. It was the accent. God, Shigala, higher or lower? I will go for a big fat higher. And Martin higher or lower. Don't really know. Let's say higher. I'm really in it for the technology. Yeah. Says the guy with the gold. I'm in it for the technology. And now we go to the magical Bitcoin predictor ball. Will the price be higher this time next week? My sources say no. My sources say no. The ball is bearish. Moving on to issue two issue two Bitcoin could become worthless says the bank of England. It's almost like the ball was listening to the category. Yes, the bank of England says Bitcoin could become worthless and those investing in the digital currency should be prepared to lose everything. Yes, the golden oldies are back again. They say the price of Bitcoin could theoretically or practically drop to zero. They warn even though as we know on Rick and Morty what happens when the price drops to zero. Hopefully good pitches kids. I'm almost proud. But watch closely as crap of topples an empire by changing a one to zero. Mr. President, the Blimpflark's value just dropped to nothing. We mean. Our single centralized galactic currency just went from being worth one of itself to zero of itself. We need to have a strong doubt people deploy the galactic militia into Clermarsha law. Yes, sir. What should I pay them with their payment is the honor they'll feel to serve their way to whose pay me to yell at this guy. I can answer that for money. I have a good. I'll see you guys. Gentlemen, gentlemen, gentlemen, there's a solution here. You're not seeing. And that's what happens when your currency suddenly goes to zero. Let's go to Joshua Schengala. Is the price of Bitcoin going to zero? Is it worthless as the Bank of England says? I love how it's like it could theoretically or practically. You covering all bases there. Yeah. Basically the Bank of England could and most probably will also go to zero. And then they'll refinance themselves from the start, which is the normal murder suburunday. Yeah, it's such a typical and boring argument. Of course it could go to zero. Of course it can. It's an experimental technology. It's fairly young. But we've had 12, what is it? 12 years now. And I've really solid, nice working structure that hasn't been offline. I think it's been like there was a couple of bugs right in the beginning, but it's run and run and run and run and it's been under attack every single fricking day. And while they're printing, I think it could, you know, if nothing means infinite as well as nothing. And I think they might be right because we're pricing it in great British pounds, in which case maybe that gets inflated to an infinite and it is kind of worth nothing because it's priced against that. But really if you price it against pork bellies and corn and wheat and everything else weed, then it will have value and I really highly, highly, highly. You know, it's like saying that this very well constructed and well understood hashing algorithm will most likely have some sort of problem in the next whenever I could, it's such a stupid statement. It could, yeah, it could, it's very unlikely, probably. It's also, you know, there's infinite amounts of statements like this. I think it's a slow news week because these articles are so ludicrously pathetic that it's kind of boring to even talk about. And I'm sorry, I can't make it more exciting. It reminds me of that great and classic Bitcoin meme. They don't do it anymore where it's like one Bitcoin equals, you know, half a shopping card of groceries. And then next year it's like one Bitcoin equals two shopping carts of groceries and a TV. And then now it would be like one Bitcoin equals 30 shopping carts of groceries, five TVs, a whole bunch of other stuff. It's getting out of hand, but I love these classic articles. Martin is the bank of America, is the bank of England right? Is Bitcoin worthless? Yeah, the way I read it is that people who issue centralized the fiancee are warning against digital decentralized currency. And therefore they are calling on to governments and regulators to step in and start regulating this decentralized currency that will be worthless because people might lose their money. And one thing is for sure, if you're keeping your money in the bank right now, you are losing money. Even if the number stays the same, it's inflation that will kill you. And in many countries around the world, like in the Netherlands, negative interest rates are real on your bank account. You pay to keep money in your bank. So you hit twice one time with the inflation that just like devalues your money. And at the same time you're paying to keep the money in the bank. And guess what? It's not even your money anymore as soon as it's in the bank. It's a... You have a title, a write to maybe get that money out. You know, depending on whether the bank is still there. So no, definitely my money is in Bitcoin. It's the hardest currency we have. You are your own bank. So, yeah. It's... The article was just like, ah, they are like calling for more regulation because it might be worthless. It will never go to zero because if it would be at one cent, I will buy all 21 million bitcoins. So that's one thing. You know, actually, if they're like 50 cents, I will probably do the same. I will buy all the bitcoins. So it will never go to zero because I will buy them all. Let's provide it to prices, right? Dan Eve, now we've got at least some protection at 50 cents. Yeah, like the thing is that Bitcoin was created to like make central banks obsolete. So, never take advice from... It's like taking advice from like the guy who run the co-horsing cart shop when the cars came in. Like, of course, he's going to go, oh, no, you're going to go for the cars, can go to zero. They could end up all stopping. And they're not as good as horses and they're bad for the environment. You know, just like they say about the Bitcoin. But yeah, it's planned to make central banks obsolete. And we talk about the US, the money print of it go, and the money supply just going insane. And it still happens in the UK just printing money out of thin air. So it's not immune to it just because it's GBP or EUR or whatever, they're all doing it. They're all got their hands in the same infinite part of money. And that's what the main difference is. We've got this hardly amount of 21 million and it won't go past that. But yeah, it would be bad thing to take your advice from someone who won as Martín said he's covering, I think it was Joshua Martín said about covering all his bets by saying theoretically and practically, you know, just making sure you've got every avenue covered just like that. It could go up and could go down. But the fact is it's never going to go to zero because someone's going to buy it. I'll buy it. You'll buy it. And Treas will buy it. He's already said he'll buy it. So we've got some competition on the markets. The only thing really that could push Bitcoin to not even zero, but if there was some form of insane catastrophic bug that nobody has seen yet, but the idea of that happening is just insane right now. That code's been looked over so meticulously by some of the greatest minds on earth. And it's not like HSBC's code that's designed and developed behind closed doors. And that's it. There could be loads of bugs once it goes to market because people can't see that they haven't released the code. This is like people can literally look at the code and try and hack it and it hasn't happened. So it's not going to happen. You know, it's been 11 11 12 11 12 years in the making now 12 years on January the third. So 2009 that is no no no 13 years right. Yeah. Yeah. So yeah, I don't think it's going to be happening happening anytime soon. It's for sure. You know, Bitconnect has still trading like Bitconnect for fuck's it connect. Yeah. Yeah. People are still trading that ticker. And I think also one coin I think is also got a value like if these ultra scams can hold their value. What does this guy talking about? Yeah. No, it's inside. It's so many scams in the space. Why can't these these these talking heads actually talk about the real scams and and there's a lot of them. I mean, some of them do obviously, but you know, not enough like not enough to really educate people. How does a scam look like? What is it? What is it? How do they structure them? What what are the red flags? This sort of stuff. No, instead it's like Bitcoin. You got a zero. It's a boring crap. Then you say, really? It is. It is. It's going to zero users. As we developed all of our Bitcoin media and Bitcoin Twitter and all the people talking about Bitcoin today, the media didn't develop anything. It's not like they learned all the way along. It's like every time they come back and they put the brand new lowest level guy on there and he's like, I've never heard of Bitcoin. I don't know anything about it except that it's a scam. Then we start from there again and again and again. It is a very groundhog day with the media. Professor Retler, what do you think? Should we trust this man from the bank with a competing product? Bitcoin is worthless going to zero. I think Bitcoin deserves good critics and good criticism. I read the blog post and there's what I think is an interesting argument in there. The idea is that the last Coinbase reward will occur sometime around 2140. It's like .00000037. Then all of a sudden the network has to subsist solely on fees. Fis are going to be mining with no reward except for transaction fees. How much will transaction fees have to be in order for miners to be incentivized to dedicate enough hash power to the network so that the network can't be 51% attacked. Depending on how valuable the network is, the risk of 51% attack goes up the higher the value of the network is. Then the ability to 51% attack goes up as hash power to clients. It is going to be interesting to try to figure out are people going to be mining at a loss because they own enough Bitcoin that if the network gets 51% attacked they're going to be screwed. Maybe that's what happens. Maybe people are just fine with transaction fees being really high because we have all these layer 2 and layer 3 solutions where transaction fees can be zero or near zero. We're just using the base layer as a fed wire. I think the game theory has in everything with Bitcoin. The game theory is super interesting. What I think I've found at least time and time again as I think through the various choices that Satoshi made with respect to the game theory is they've been right so far. Satoshi could have made such that there was always new Bitcoin minted with every new block. It could be a super small amount. Satoshi made the choice to end the block reward at a certain point other than transaction fees. I suspect that it's the right decision but trying to figure out what's going to happen in 2040 when that block reward goes away. I think it's really interesting. It's not like it's the first time someone's thought about that problem. It's the first sort of thing you kind of think about especially when it comes to layer 2 because you're thinking how many people need to onboard to layer 2 and then you're in Hamarada we think to pay that means this many million per day doing a settlement and let's say layer 2 you don't need to actually settle for like a year or you don't even need to settle ever. Is there a need? Maybe if I need to onboard again. There's all these calculations and stuff but even before that there must have been some thought process on that because obviously the base layer is fundamentally flawed in terms of scaling. It's not a new argument and it would be nice if they would have brought some people on that have already thought about this argument rather than just going, oh, the sky is falling Henny Penny and pretend you're like the first person to think of this problem when obviously we've had thousands and thousands of very, very smart people like yourself and cryptographers and Peter Todd and the rest of the gang. I think obviously talking about this issue for a long time and it'd be nice to have brought on some solutions rather than just, oh. Well, then he helps himself to this premise that Taylab used and his self-proclaimed Bitcoin Black Paper where if the future value is going to be zero, so he assumes the future value is going to be zero because transaction fees aren't going to be enough and the network's going to get 50% effect. So then he says because it's going to be zero, which Taylab also assumes for other reasons, then backwards induction tells us right now we should get out because in 140 years or 130 years it's going to be zero. And even if you buy that it's going to be zero, 130 years is a long time. Maybe we can get some use out of it in the meantime. Yeah, I think both premises of the argument are suspect. Yeah, yeah, yeah. Isn't this the same like with most of us when I started with Bitcoin early, what was the day 2010? I thought this will never work because this blockchain is growing forever and ever and it will take up too much space. Well, it doesn't really because hard disks are cheap and plenty full nowadays and they're faster on SSD so that problem has more or less been solved. And then I thought it will never work on mobile. It will not be you won't be able to use Bitcoin on a mobile because of the blockchain. And then we've got light SPV for wallets so that problem was solved and then problem was scaling. It will not work because it doesn't scale. And then we got the lightning network and actually that tripled in size over the past year or so. So yes, we have a lot of challenges to overcome in Bitcoin and cryptocurrencies in general, but just specifically Bitcoin. But they have always been solved up until now. So I'm not too worried about that. And this whole minor fee thing, maybe we don't need any minors in the future. I don't know. We'll be able to switch off the last minors and everybody will be doing everything on just the layer two and they will be doing atomic swaps. Oh, yeah, well, we'll probably have some minors left. But if you look at the mining revenues made over the past years, they've been going up. Okay, now they're down again. But I suspect that in the now in 140 years time, we'll definitely have enough fees to cover the mining fee. Just that's I'm not too worried. And everyone knows in 140 years, the Jeff Bezos Memorial Foundation continues to mine Bitcoin for the good of Amazon. Also if you're wondering why Satoshi had it go to zero instead of having it continue to generate a sum, that's when the globe and the earth is going to join the Federation of planets. Yes, United Federation of planets, 2140. And of course, we won't need Bitcoin then we'll just upgrade into the galactic coin system. Moving on to the exit question as it said in the article, the critics believe that one Bitcoin equals one Bitcoin is a totology, a needless repetition of an idea statement or word, others believe that it's an equivalence, the state or property of being equivalent. One Bitcoin equals one Bitcoin, Dan Eve, totology or equivalence. That's equivalence. Professor Retler. Both? Both. Martine Wishmare. Incident equivalence. One Bitcoin is one Bitcoin. I mean, there's nothing, you know, nothing more to add there. Josh Schagalla is a totology, is it a meaningless statement? One Bitcoin equals one Bitcoin. I would definitely agree with Bradley there, though it's both. It's obviously a trip as well. I like the way they try to tear us down. It's nothing. It's just repetition. It's just words. It's madness. Dada is them. Speaking of words, check out worldcryptonenetwork.com where you can see Ben Arx, amazing new video about creating your own vending machine with Lightning Network. You can make it for $250. It's completely offline. You can also check out our channel statistics, 2949 videos. You could watch this show for three months, 10 days and nine hours, straight 24 hours a day. We've also got show tags, check out the different shows on this day in worldcryptonenetwork history. Check out our old videos and even tags. Look at all the work that Marwe has been doing. Check it out here. You can click on the tag and find out more about the shows. Check out worldcryptonenetwork.com. That's really nice. Nice hashtags in there. Just quickly as you're scrolling Bruce Wagner and some really old names there that I haven't heard for a while. Jack wallet. Nice. Chipotle. Good point. Block. Balancedly scheme. Balancedly scheme. So check it out. Find a new video. That's an old video at worldcryptonenetwork.com. Issue three billionaire Ray Dalio. Bitcoin's like a younger generations alternative to gold and has merit. A rare positive article about Bitcoin. He says it has been an amazing accomplishment for Bitcoin to achieve what it has done from writing that program, not being hacked, having it work and having it been adopted the way it's been. But he also believes in blockchain technology. There's going to be that revolution. So it has earned credibility. He sees Bitcoin perhaps as a digital gold. Martijn Wishmare. We've got at least one billionaire on our side. Is there hope for Bitcoin? There's more. I think there's Brock. He's like quite positive on Bitcoin. And there is Michael Sailor. So I think there's like, and then there is the, I don't know, the Facebook twins. I don't know if I forgot the name. The Gemini Gemini was a big boss. Rincol Foss. I don't know whether they're billionaires or not, but if they're not, I know. Yeah. If they're not by now, they don't something wrong. But yeah, I think the article is right. It's a digital form of gold. And you know, my grandpa had gold and he had a pension and our generation is Bitcoin. So that's how I see it too. Josh Gala, digital gold. You know, I've run Valtoros since 2015. It was the very first Bitcoin, a physical gold exchange and back. People with swapp it and people can and still do. And it has its place. It's like, there's still cinemas, even though you have a 4k TV at home. Sometimes you want to do something else and you want to go with friends and see the cinema. So it's, I don't know, this whole argument with God, but you know, Bitcoin was there to this rupt fiat money made out of nowhere, brought in by debt with interest that doesn't exist. This sort of corrupt system as a core, that's what it was there to fight. Not, hey, there's another rare asset. We'll take over that. It's like, you know, I really, I don't see it and I don't understand it. I've never understood. I've never understood the fight that Peter Schiff has with the whole world. And I don't get it. Like if you're a gold bug, you've got to understand Bitcoin. And if you're a Bitcoin bug, you've got to understand gold. Gold has its place. It's important to diversify. It's just like in it's like portfolio, wealth portfolio, 101, diversify. They hold everything in digital currency. You know, gold is wonderful because it's out of the banking system. You can secure it in high security voting facilities. It's fully insured, fully audited. You can counter it like fully insured as a big, big thing, by the way, because banks, well, you have to take every 100K. You need to have another bank account because it's only insured to 100K. In the US, I think it's 250K. I'm not sure. But so, yeah, gold is a really nice diversification for those that need that. And so, yeah, just to keep on harping on that, you know, it's the new gold. I mean, also just this typical old school trope that no one cares about. I mean, how many times do you need to hear this crap? It's there. It's a typical dividing conquer thing, rather than us all, the gold bugs and the crypto bugs, saying, this is what we're going after. The central banking is what we're going after. And it's, and we're not even going after that. We're just saying, you guys do what you want to do. We're going to do here this thing with our rare numbers and rare assets and rare metals. And leave you guys to it. Go have fun destroying the economy while I, you know, actually keep the value. So, yeah, this whole gold thing. It's not that I'm against gold. It's just that owning gold, like, you know, under your mattress isn't very practical. I travel a lot. I don't see how I can travel. Were it heavy? Gold, especially if you have a lot to transport, you can't even easily transport it. What's hard to verify too? It's hard to take it out of circulation. You have to pay a lot of assessment fee or a special fee or annual fee. What's the fee you have to pay to get it checked again and have it check. I mean, you chuck it through all sorts of different, there's a lot of different mechanisms to test gold, pure, pure, but the, you know, the real gold bugs, what they do is they buy it and they secure it at something like brinks. And it just never sees the sun. It goes from the ground to the smells. It's the vault. And these vaults then trade the ownership within the vault. They never really leave. And that's the most practical way in terms of moving value. Holding at a home is extremely dangerous. Most insurance companies won't even ensure it because they know the value of, they know the odds of it getting stolen by you telling your friend and the friend tells a friend's brother who's desperate for cash and goes and robs the joint. So it's, you know, and that problem isn't, isn't only gold, by the way. Many bearer based asset, including obviously Bitcoin. So and that's why a lot of people that I've talked to about places like El Salvador that I can, yeah, and I know bearer based asset. Everyone knows that Bitcoin is no good because it makes lousy jewelry. Dan Eve, your thoughts. Well, you know, on the environmental example, they're like, although Bitcoin uses a lot of general energy, you know, mining of gold is renowned for kind of using quite a lot of, or producing quite a lot of, you know, chemical, you know, chemical chemicals that are bad for the environment and the impacts on the environment general with the actual physical mining, right? So that you've got kind of, you've got the same argument against gold there. But I do, you know, I agree with with with Josh that every, every like, you know, hardcore Bitcoin, or I know, has, although, you know, they think Bitcoin is better than gold, they have a, they have a, you know, still have got a little fetish for gold, right? And you look at like trace trace mayor, for example, is his like, so the two shows I started listening to back in like 2013 was, was the mad Bitcoin show and also trace mayor's run to gold, run to gold and into Bitcoin podcast. Well, I don't comment what the name was, but I mean, it was run to gold, right? And so you can see there's a lot of transitions over there from, from gold and people who understand gold and the reason why holding gold is better than holding, yeah, that, you know, the dollar, for example. Now with Pete Schiff, I think that he, he, he on him, I bet he definitely owns Bitcoin, right? He just plays people, he just, he laps it up all the, you can just tell. He's like, he's like, someone he's like, you made it the pub, he's like, he knows that he's, you know, I mean, he's like, I don't know, I don't know any, he's like, I don't know any Bitcoin, but he's like, even when the conversation's not on Bitcoin, right? He will, and he's meant to be a proper gold bug. He'll just bring it up again and like get into like, you know what I mean? Is it here? So I think that's kind of all for show. But ultimately, it's, I think gold has, it has its place, right? It's a precious metal. It's got its risks that, that, that, you know, there's eventually we're going to find it on asteroids and stuff, maybe even by 2140 that will, will be mining asteroids for, for gold and, and the value of gold will depreciate because of the fact that we can just get it, you know, it's ubiquitous around the universe so we can just strap on and at a, a digger to destroy to heavy. It's too heavy. Well, not in 2140. I don't know, I don't know, you know, you don't know, right? We might be that efficient. Might have a space elevator. Josh, you can just literally climb the space elevator and it becomes really efficient, you know? But you're the problem with the space elevator. The buttons, there's a lot of buttons. Really high up. Like, the buttons really high up. You can't reach it. But no, like, and there's also, you know, there's also, I think with, you know, this gold that's trapped in, in, in the, in the world that's kind of, it hasn't been mined yet. So, you know, we're starting to see markets come up where you can like buy the patches of land for the potential of the, of the gold and people, well, people trying to tokenize that, for example. But I think gold's still got its place in society, you know, it's been around for so long. It's literally, it's, you know, it's ingrained in a lot of cultures as well. So, I don't think that, you know, gold, you know, it's like, it's going to just go away, you know, gold's still used for it. It has usages as well. It's got physical usages in circuitry and stuff like that. So, I like, I like, I like, you know, gold's gold's cool. But it's big and it is heavy and you can't, you can't put it into a block. As in physically on there. So, yeah, that's why Bitcoin is better for me. She's got huge tracks of land and they're going to tokenize them. Professor, what do you think of Dan's idea here that maybe if we called it Bitcoin calculating or Bitcoin compiling or something instead of mining, we wouldn't be hung with all the bad ideas that mining is bad for the environment that mining involves like large men with heavy, you know, pickaxes and lights on their helmets and that it's bad for the environment that it needs to be stopped. Yeah, they're like, yeah, this mining's old-fashioned, this Bitcoin mining because we got the wrong word. Yeah, I like the comparison with gold in terms of its proof of work. So, you know, when you hold some gold, you know what it took to get it out of the ground and refine it and everything. On Radealio, generally, I find him so interesting because I compare like his statements about Bitcoin to, for example, Lin Alden. And Lin sits down, she has some data, she has a bunch of questions, she thinks it through, she looks at the arguments, she decides what she thinks, she writes it up, she has conclusions. It seems like Radealio sits down, I'm thinking of his like January statement, what I think of Bitcoin, where he's like, here's some concerns I have. I haven't bothered to investigate them at all, but I'm going to announce it, I'm going to announce that I have these concerns as the head of this multi-billion dollar company. And you know, maybe someone will answer my concerns. It's like, well, why didn't you just like ask a few people whether they were reasonable concerns or what. So, you know, early on, it was, I'm worried about hacking. This is all cyber internet stuff and that stuff gets hacked. So, I'm worried about that. Also, I'm worried that there's a lot of cryptocurrencies and Bitcoin's just one of them. So, I'm worried about competition. And he just like announces that he has these concerns. I guess now we're supposed to take this new thing as maybe these other concerns have faded away because they've, and he can kind of, well, now he's like, I, I don't totally get it, but I see why the young people like it. So, whereas the old people buy gold, the young people are going to buy Bitcoin and that's like their gold. So, that's kind of cool. And so, I got some because I'm worth a ton of money anyway and I can afford to risk a little bit on things I don't understand. And that's like what I take from my Dalian. I think it's cute and I like him and I like how he thinks through it. But it's interesting to watch someone of his generation with the kind of money that he has. Basically, do what I think of as thinking through it out loud in front of the entire world. Well, so many people, they go to Twitter and they think it's Google and they just start typing in their questions. And then they push the button to see what happens. And if you're at a certain level, experts come out of the woodwork to answer your question like if you're JK Rowling or Taylor Swift or whatever. But at another level, nothing happens with people are like, why is Google so broken? People talk so big about Google. But I also love the idea about, I don't know, Danny talk. So, I just very quickly when we're Bradley mentioned that, that, you know, it's their gold. It made me think of that goonies quake from from last week. So it's like, you know, the Bitcoin. This is that down here is our Bitcoin up there. It's their gold, you know, and we are the goonies of money. I remember what I was going to say. It's interesting to see the research level that takes place at these top level companies. You think it would be very serious. But then Tesla adopts Bitcoin one day. Reads about the environmental impact, maybe not even the best report about it, maybe not even multiple reports. They're like, oh, this is this could be bad for the environment. We're Tesla. We're good for the environment. We can't do that. They retract Bitcoin. And then just this weekend, as Elon Musk was announced as time magazines man of the year for trying to lift all of Earth's resources and go to Mars. They're like, he's like, oh, we're going to take Dogecoin for our merch. And it's like, did you investigate the environmental tenets of Dogecoin or Litecoin or merged mining or anything? And it's just like, now we just kind of like make these wild statements, make these actions, get some Twitter buzz going. And man of the year, there you go. Moving on. Obviously that it doesn't care about inflation either. Like he loves Doge yet. It's inflation is insane. It's more than most countries like put for like by far. He also doesn't care about making money. Dogecoin was 50 cents, 75 cents. Last time he talked about he's like, I taught my son how to buy Dogecoin. And then now the breakout where it was at a breakout, it was like, it was at eight cents and it went to 24. So I mean, your son still lost half his money and he could just gotten Bitcoin and you know, lost 30% so close. Moving on to issue five. Peter McCormick is buying a football team. Yes, that's right. Bitcoin podcaster. Peter McCormick is taking over bed forward FC. He says he's going to leverage his Bitcoin audience to buy t-shirts with a Bitcoin logo on it. He's going to leverage his Bitcoin podcast to get sponsors for the club of sponsors who have Bitcoin logos in their names. He's just going to synergize and leverage eyes and it's a whole kind of Ted Lasso thing except he's actually British. So we're going to Dan first. Dan, what about this? What is bed for FC? Are they a good team? Is Peter McCormick going to go all the way? Is this the next Ted Lasso? I'm not really a football person. I don't even know what a football, how to say the cloak with your term of a football fan. But I think it's a cool idea, just buy out or football club and just, you know, she'll be quite using it. There's got to be a lot of people that they're going to do a lot of good things by this sounds of it. So they're doing a lot of grassroots stuff and expanding the women's team and stuff so it sounds like they're trying to be really constructive and it's not just about kind of buying it out and being like people getting pissed and being like, we're really rich. This is a Bitcoin club screw you. It's actually doing something really useful. So I think it's pretty cool. Like a nice little idea. There's a lot of Bitcoin and crypto kind of stuff breaking into the football leagues at the moment. There's things like sports bet IO, sponsors, I think there's like three teams, including my local team. So like Sun Ampton and Arsenal and Watford, I think something like that. So we're starting to see Bitcoin creep into into the football teams and their sponsorships and stuff. So yeah, I can't see anything wrong with it. I think it's pretty funky actually. I'm not sure how good Bedford are, I don't know if they're a Premier League team, but it sounds like it's going to be a real life game of like football football league manager or whatever. I used to play that game actually. You start off with a small team and then you work your way up to the Premier League or whatever. So I wish them all the best. Sounds like Dan is filling out his application for coach right there. He used to play the game. He's ready to go. And the first problem comes when you pay your players in Bitcoin. If you pay your players in Bitcoin, they make too much money. They're not going to want to play anymore. They're not going to want to play hard. The other question is, are they going to film this? Is it going to be a musical like Billy Elliott with lots of songs and Peter McCormick dancing? Bradley Rettler, Peter McCormick is buying a football team. Is this the greatest thing that's ever happened in Bitcoin? I absolutely love this. First and foremost, I love it for Peter because Peter's been talking about this for such a long time and he finally did it. And I think that's so cool. So I'm a huge football fan. Bedford Town FC is I think in the ninth tier of English football. They're a non league side. So the jump from there to the Premier League as Peter wants to do is going to be a long climb, I think, chiefly just because of all the financial rules involved in running a football club with respect to how much money you have to take in, how much you could pay based on what you take in. So I'm super interested to see how much of Peter's life this now starts to take up as he has to plot this. He's not the first person who's who's bought a football club who's had a lot of money and said, I'm going to take this team to the Premier League. And it's just really hard. There could only be 20 teams in the Premier League. So the odds that that Rayal Bedford is going to be one of them are pretty slim. But if he can move them up at all, if he can sell lots of t-shirts, that's going to be a news thing. A Bitcoin podcast is doing such and such. And he's always going to, it's always going to be linked to Bitcoin. So I think as a way of publicizing Bitcoin, it's a super interesting thing to do. And I'm really excited about it. I don't like the sound of this ninth level thing. It kind of sounds like when Chucky Cheese used to sponsor my little league team and everything was going great. But then pretty soon, Chucky was you know, point shaving in the third quarter. And we had all kinds of problems after that. But I think it could be great. I think we have to throw in a love interest, some romance for Peter, maybe somebody that works for the club, somebody in marketing. Martin, what do you think about this little musical version of Ted Lasso? We got here starring Peter McCormick. Well, I didn't understand how I don't understand the how what the exit plans are. I don't know much about sports either, but I think any any adventure for Bitcoin is good. And yeah, for the rest, I can't comment on this really. Well, first, yeah, I should know you leverage it. And then there's t-shirts. I should correct myself. I'm looking at the Southern Football League in which Bedford Town Play and they're actually level seven or eight. Oh, so nine, nine. We've already moved up one already. Incredible. Like, there's one day. Josh, Shagalla, they're already up to the seventh level. Clearly, we need to buy our sweatshirts today. New car, caviar, four star daydream. Think all by me, a football team is pretty much what pops to mind. And that could be the musical, Pink Floyd, the musical starring Peter McCormick would obviously be sensational. No, like like the great professor, I agree. I think this is fantastic news. This is fun. I love it. Anything with sports. The people love sports. Give them sports. And yeah, I mean, I remember Big Pay, you know, just naming a whole stadium, just Bitcoin or something like that. I can't quite remember the details, but it was like, it's the Bitcoin stadium. And I remember thinking, hey, that's cool. They didn't name it the BitPay Stadium, they named it Bitcoin. And if you could see what Peter does with this, yeah, I think it's really really cool. Love it. Bring it on. Obviously, they need to reenact the cover from wish you would hear. And Peter's shaken hands with a man who's on fire, who's like the devil. He wants to change the team. He wants them to go towards shit coins or NFTs. And Peter like fights strong for the Bitcoin. I do agree. I think it'll be fun if they have lots of good marketing stuff, like seeing a stadium full of t-shirts, all, you know, Bitcoin on the the chairs ready to go stuff like that. It's always fun on a large scale. If someone wants to do it with their money, that's great. Doesn't take any of my money. So that sounds fun. Exit question, will Peter be successful? Will he raise the team up? Or will he be successful that he just markets Bitcoin really well and loses a lot of other people's money? Dan Eve. Well, I think ultimately they're probably going to end up holding a lot of Bitcoin. And Bitcoin is inevitably going to go up because it's an only up coin. And so I think they're just going to end up having like more money than they can buy the players of worth. All the players in the Premier League. So they'll just be able to, all the world, whatever, they'll just be able to buy anyone. So I think it's I think Bedford is going to go only up. Bradley Retler, a proper holding strategy for the club, stratospheric results. Yeah, I think the I think the club's going to have so much money. It's not going to be able to spend it all. I think Peter gets them up to the fourth tier, League 2. And that's a success in my book. By the ghost of Paley, Martin Wishmeier. I don't know. I honestly don't know, but I would want a T-shirt if it has a B on it, a bit coin B on it. So yes. They got him already. Josh Gala, you're buying the T-shirt. Oh, I'm buying the T-shirt. I'm buying I'll buy the team that goes against him. Oh, the Washington general is an excellent buy, excellent buy. Moving on to the next issue. In an industry landmark, more than 90% of all Bitcoin has been mined. Yes, it's all over from here. 90% of Bitcoins mined. No one's interested anymore. The blockchain is locked at 21 million Bitcoins. No one's going to be interested at all anymore, even in the haveings. It's better not to learn anything about Bitcoin. Martin Wishmeier, is it all over for Bitcoin now that it's 90% mined? We're totally doomed. I think this is the end of it. That's why you should sell your Bitcoin preferably to me at a low price before it's too late. So yes, I will buy all your excess Satoshi's because well, no, of course not. It will take many, many, many, many more years for the remaining points to be mined. I remember like I only mined one block in my entire life on a single, you know, on an old laptop back in 2010. I thought it was something I could reproduce anytime and earn another 50 Bitcoins because that was the block rewarded at the time. And I never ever managed to mine another block. And it's just that after the halving, it became like 25 and 12 and a half. You know, like, so the halvings will continue and the price of Bitcoin will go up. So I think it's still worth mining. And if you have a nice and efficient miner, maybe some cheap power, preferably excess solar or something or hydro energy, then there's still money to be made in Bitcoin. So yeah, the article was a bit felt like, you know, it's all over. It's all gone. We're doomed. Bitcoin is doomed. Move on to the next coin like Cardano or something, whatever. So no, no, no, I'm not to impress. This is the thing Bitcoin works. And it has been working like this since day one. So not to worry. It's like Yogi Berra said that place is too popular. Nobody goes there anymore. Josh Shagala is Bitcoin doomed now that it's mined out at 90% 89% OK 90% big round number doomed bad over. I mean, I really find it fascinating that I can tell people exactly how many Bitcoin maximum there would be by a certain time, whereas in terms of Fiat, I can't tell them anything. And I don't know how many US dollars will be around in 10 years time. It's impossible to know, whereas I know exactly how many will be around in 10 years time. According to a couple of sources, there's 190,000 tons, 190 and 40 tons, 1000 tons of gold that's been mined ever. It's also not very much 190,000 tons. And yeah, and two thirds of that be mined since 1950. But in terms of Bitcoin, it's such a ultimately scarce thing that is probably outside of you and me. And you know, you're in person, it's probably the rarest thing on the planet. And if you think gold's mined out now, just wait till I get my asteroid, me and Elon Musk are going to work on it together, although it doesn't take government subsidies anymore. Dan Eve is Bitcoin mined out. Is this it? It's over. Forget about it. Well, there's going to be peaks and troughs in like in the hash rate and the miners are going to make money. They're going to lose money. Miners are going to shift hands. It's going to go to cheaper where the cheaper electricity lies. Like the difficulty at the moment is it's like, what, it's pretty much near. It's all all time high. Like we're right up there. I think I'm sorry. Yeah, in fact, we are. I think the difficulty is like, I'll know about the difficulty. Is it's plus one more than Martins laptop? Yeah. The peak was like 25, 25 trillion. And we're now at 2024. The ex-exer hashes like peak was what, just under 200. And it's currently sitting like I don't know, 166. So although the prices have gone down, like they're still, you know, it recovered from its like from its what 80 exer hash drop it to in July. There's always going to be people mining. There's going to be companies that go bust and there'll be new companies that like I can do it differently or I've got cheaper electricity. There's going to be new mining equipment. I saw I think that mining is going to be forever profitable for some people. And that's the main thing. It may not be for everyone. And now I was doing just whilst we've been doing the the the show, I've been doing some back-and-a-fag packet calculations. That's that's back of the cigarette packet. Just going to don't skip a colloquial term here. Mix them up. But back of the cigarette packet. And so calculations. And so there's I think the current blockchain.info is saying the current number of so this is going back to the mining right and how profitable the fees will be, etc. So there's 10 at the moment it's about 10 Bitcoin a day in fees. And realistically, like even since like July, it's been about, I don't know, 10 between floating between 10 and like up to 20. So this is Bitcoin per day. Now it's actually around about 2086 that the amount of Bitcoin mined per day based on the halving schedule is about 10 Bitcoin per day. So actually I think we should like I think the fees are a Josh made a really good point earlier that I didn't think of like there's going to be where becoming more and more of a settlement layer. And there's going to be more consolidation of these transactions off chain. The fees are just going to go through the roof right because you're going to have so many transactions that will be settled in layer two that it becomes still cheap to be having huge fees on the Bitcoin main chain. So people like you and me won't be transacting on Bitcoin, layer one, it will be consolidated mass transactions which will boost the fees insanely to insane levels. So I have no fear when it comes to that. And I think the mass, I'm sure I don't I don't know, I'm not a mathematician, but I'm sure Satoshi worked out, right? As Professor Bradley said, Satoshi has been right about a lot of things. So I'm thinking that he's pretty much right about this as well. So yeah, I don't have any fear about the transaction fees. I think that's just mainly a bit of a bit of a bit of a bit of a bit of a bit of a bit of a really yeah, I think is a bit of a fad. I just know at 89%, I was going to get a whole block of 50 Bitcoin, but now that it's 90%, my laptop isn't good enough. Professor Retler is Bitcoin over now that it's mined out at 50% at 90%. It's really weird. This NASDAQ article is referencing a Bitcoin magazine article and the Bitcoin magazine article concludes that a whole new level of fear of missing out is coming as people realize just how few Bitcoin are left out there that they could get. So they leave that part out in NASDAQ. Yeah, I mean, I think like Dan was saying, this is if not a bit of mathematical ingenuity on Satoshi's part, a bit of marketing ingenuity. So more and more people are learning about it, more and more people are understanding it, and as they learn about it, the available supply is going down. And so people as more are onboarded, there's less available to onboard them to. And that is going to be, I think, a catalyst to drive up interest and to drive up price that headlines write themselves. I also read just a few days ago, someone said that that micro strategy bought 25% of the Bitcoin's mind in the year 2021. So as more companies onboard, there's just fewer and fewer new Bitcoin to go around. Now, of course, as with everything else, like the dollars that I get aren't new dollars that are newly created, right? They're dollars that come from someone that I sell, you know, I sell them something or they give me dollars that they got from. So this is how Bitcoin is going to move around just like other money moves around. Very few of us are right at the spigot of the new money, just like very few of us are at the spigot of the new Bitcoin that's created. So yeah, I think it's a really interesting time. These haveenings have been talking with other members of the resistance money, Bitcoin research collective about why Satoshi decided to do haveings rather than just like a steady decrease instead of every four years, it could have been every two years, or every year, or every two weeks when the difficulty adjusts. So does the the block reward. It goes down a tiny bit. But instead, there are these big events where the block rewards are couldn't have. And I got to think that that part of that was marketing. I don't think the code would have been that much harder to do it a different way. So there's a reason this was chosen. And I think Satoshi didn't talk about it really that much. So I think it's interesting to try to figure out why it was chosen to be done this way. Yeah, other people talked about like every single harbing though, so many people really quality minds in the space as well. Sit there and give huge lectures on what could happen and what will and what might. And every time it's doom and gloom and people walk away like, whoa, I might just put some of that in something else. Yeah, it's but at the end of the day, yeah, like you said, it's really great marketing. It does get, I love the term the harvining. It's very Hollywood. It's great. I think the reason for this harvining was to make sure that there is more or less fair distribution of the coins. Because there's no central point of issuing, like with a central bank, everybody who is mining needs some coins. And obviously people that start early, there will be like no or very few mining or sorry, transaction fee rewards. So in a way, these miners have to be compensated. And that is done by having a higher block reward fee. And over the years, when you know Bitcoin becomes more used by more people, the the idea is that yes, the fees will take over and then the block reward will go down and it has to go down. Because there will never be more than 21 million Bitcoin. So yeah, I think this is really, this is this is well thought out. Yeah. I think it's an excellent point about the marketing value of the harvining. It's certainly been a great event every four years as we've been doing it. But on the other side of it, this has been hell for marketing if you're trying to market Bitcoin. I mean, at first I said buy Bitcoins. And now I sound like an idiot whenever you say Bitcoins. Then I'd say buy Bitcoin. And now it's really hard to get one coin. And so we've taken it to the other end, we're saying stack sets. And it's just so depressing. It's like, if only you'd watch the show earlier, you could have bought Bitcoins. Now I'm just hoping you can stack some sets. So there's there's hope for you yet. And we had an excellent South Park movie this weekend. We just want to play this a little bit about NFTs. And then we'll discuss South Park and how it's the greatest satire of all time. Here he is. Our man, Vic Chaos telling us about NFTs. Denny's Applebee's Max is the premier place in town for people to eat. With NFTs, you can give your customers unique digital goods on the blockchain. Lots of people eat Denny's and Applebee's. And lots of people know about NFTs. You know what this is? People who eat Denny's Applebee's and know about NFTs, that's your target audience, maybe. And if you just believe in NFTs, then I believe in NFTs, and then they believe in NFTs, and we make all kinds of fucking money. That's a pretty goddamn good idea. And there it is, NFTs, if you believe in them, and I believe in them, we all believe in them. I just thought it was great. I mean, I could be this right now. I did talk early on about the marketing value of NFTs. And I've said over and over again, how great it is. You can put something in someone's wallet. Then you can track that it's there, that it's in their wallet. Then you can give them more things like coupons, stuff like this. I'm afraid we're only seeing the beginning of NFTs, even though South Park mocked them. So seriously, Dan Eve, the South Park guys, the greatest satirists on the planet, what do you think they'll take on NFTs? I'm really looking forward to seeing the new ones. So I need to check them out. I've only seen the clips so far. But whenever they cover any subject, they kind of, they make you realize that your opinion of it's probably quite silly in some way. They look at everything holistically. They just point out such things that are just so obvious that you don't kind of think about it in certain subjects. One of my favorite ones that is sarcastic like where Randy's just like, oh, why don't they just, football's too violent? Why don't they just put on bras and then have a balloon and then everyone takes them seriously. And they're like, yeah, yeah. And you see that happen around society where someone almost says something as like to take the piss and then people latch onto it. And then it becomes a thing. And I just love the way they, yeah, they analyze like what's going on in the world. So I'm really looking forward to seeing the two specials. And this was like, what 2020 and 2021 were the first like years where we haven't had like two seasons, right? It was just a couple of, a couple of specials here and there. So it's really sad. And the saddest thing is, it would have been the perfect time to have had a mammoth couple of seasons because like everyone was in lockdown and we needed to keep busy. But yeah, please just keep on, keep on producing them. And the good thing is that if eventually Matt Stone and Trey Parker don't want to produce them any more, AI is going to be good enough that like we could just literally like, I don't know, have some give it to a computer and be like, like, make some new South Park episodes and they must be funny. And we'll have some more funny South Park episodes for the rest of time. It is great to see what they're doing now on Paramount Plus with these movies. It's very surprising to hear them curse and use whatever words they want. And what an interesting journey it's been to see them go from Cartman gets an anal probe and just kind of cursing and foul mouth, dirty mouth, children that were on the internet first and then on the Comedy Central to now is kind of Mark Twain level satire just going after everybody taken down everything. Professor what do you think about South Park and especially the great new take on those NFTs? Yeah, I mean, all I've seen of the of the new stuff is what you just showed. But yeah, I mean, the ability to uncover the ridiculousness of our lives. And I think when I first started watching, it was like every episode was my favorite and I would tell everyone, oh, no, this this episode is the best one. But I guess I think the election episode where they had to choose between a giant douche and some kind of turd that I sound like. It's just oh, I can't this. It just says what we're thinking in a way that makes us laugh and I think it's wonderful. So yeah, I'm excited to see more of this. If this is all that we learned about NFTs or if this is all that they do with NFTs, I guess I'd be surprised. But I think it's yeah, really nice. And I still don't know what to think of NFTs, but I've never known what to think of art and like how people value art in the ways that they do. It's like this small community that puts this ridiculous value on it. And I guess I think, oh, if NFTs are supposed to be digital art, it makes sense that I don't understand NFTs because I've never understood the fine art market either. Well, it's always interesting because it's a unique digital signature. But I do think the South Park guys have a rich and fertile vein there when they're saying, should this unique digital signature be worth a house? Should it be worth a car? Should it be worth 10 houses? Like how really valuable is it? And I think the market's going to determine that with NFTs. But what a run for South Park, all the basic normal episodes when they were just kids and then now like these global issues, things like man bear pig, they were even able to come back years later and say, hey, we were we were too critical of man bear pig like he's right. Man bear pig is real like they came around and changed their mind. Martin, what's your favorite thing about South Park? Well, a man bear pig was primarily there to raise awareness for man bear pig. So that wasn't. But I think it's hilarious. It's my favorite show. I've been watching them for years. Unfortunately, in Europe, we don't have these special episodes because we don't have any paramount plus. So, you know, they probably decided that we're not ready for it yet. Fortunately, we still have the pirate bay. And that's where all the pirates go. So this is where we download our latest COVID episodes. I think they're just fantastic. If only people would have more integrity, you know, like like Randy and Tagorezi, with his Tagorezi farm. So I think this brilliant marketing, it's just I imagine having a brand, a wheat brand called Tagorezi, you know, and then or the member bearies, they were they were quite hilarious, you know. So yeah, there's every episode I watch every clip on the South Park official YouTube channel. They have these small clips. And then if I if I see a clip that I haven't seen yet, then I start digging around in the comments section to see what episode did I miss. But up until now, I've seen every single episode from all those years. I think it's really the only show I really enjoy watching on TV. If you really want access to those specials you have to gain your plus max. I didn't have a plus max. The plus max everything has planned one thing about the NFTs. I read somewhere the NFTs are great for money laundering just like fine art and collecting expensive wines. So if you're into money laundering and you don't understand NFTs, but you do collect like fine wines and sell them later or artworks which you just buy to longer, then definitely look at NFTs because now you can do it from your own desk at home. So finally something that brings my love of fine wines together with my love of fraud and scams. It's like perfect. So match made in heaven. Josh, should golly your thoughts about South Park? We this more thought on the NFT market. Obviously I love South Park. In fact, when I was a kid, you know, in South Park first came out and the Simpsons had been around for ages already. And it was like, ah look, it's kind of crappy animation. I was too young to really appreciate it and was still evolving. I was like, I wonder how long it'll last. And man, like for my money, it's just way better than the Simpsons nowadays. You know, the Simpsons still stayed sort of very sort of base level media comedy, whereas South Park really take on the big ideas of the world. And I really like that giving commentary and laughing at ridiculous tyranny. Josh, if you compare to Simpsons and South Park, I think the Simpsons is just from another age. You know, it was supposed to be the average American family. Well, do you know any average American or family anywhere that were just one man in the household works? The kids, the daughter even gets to go to like music class and stuff. And you know, they have like enough to buy their own house. I mean, forget it. There's no way this is this is the average family anymore. The average family, everybody works in the household. There's barely enough money for the house, even if they can even like find a house. And it's just so, so I think it's it's it's Simpsons was good for its time. But they ran out of ideas. So South Park is just you then taking the base out of everything. It's just so fun. Yeah. But in terms of the NFT market, it's what I what a fun interesting there with the whole money laundering thing is that any collectible is kind of open to to scams and money launders. So for instance, the game collectors market, there was this there was this really nice underground market for collecting old like NES games and like, oh, it's the original cartridge and they would sell it for like, you know, 30 bucks, 50 bucks and and stuff like that. And it was sort of this underground thing until one of these rating agencies came and went, hmm, how can we can make a buck here? And so they basically got bought a whole bunch of these games and then made a certificate and made a special box that the cartridge can go in and then gave them a rating number. Is it a plus? Is it a quality? Is there any creeks in the decreases? It's a so the original leaflet in there, all this sort of stuff. And basically started selling them for, you know, thousands and thousands of dollars. And it kicked out the actual collectors, the people that were really interested in building collections up and made it more this sort of you know, a liter elite way of collecting something from your childhood. And yeah, I find it kind of interesting that NFTs is very similar. You can take something and you can wrap it up in a new technology and you can say, now these frogs are amazingly expensive. And while I don't write it off because I think it's fascinating to see how humans want to collect stuff. And I think it's also fascinating that you don't, you know, some people just don't, still don't get it, they're like, ah, but I could just copy that picture. I could just right click copy and I've got it on my phone. I know it's, it's like, yeah, it's not for the picture. It's not for the digital thing. It's actually for the rights to resell that picture. That's all. And, you know, yeah, you can look at it and stuff, but it's really that you have the rights and you have that direct lineage to the creator that created it. So it's that's that's also fascinating. But in the end of the day, I think NFTs will stick around. I think they will drop away from this sort of mass generation stuff because there's all the software now that just generates billions and billions of NFTs. So obviously, it's a tulip bubble. But it's interesting that where I feel it will really hold its ground is, if you are an established artist, a great photographer and you have a community and you want to sell them some photos that have a direct lineage to your camera that they can sell those on and say, this is an original Martin Wissmeier right here. And I think there's definitely something to say. Very expensive. Very expensive. Yeah. And that is what's unique about a Josh is not the right clicking and saving, but the signature, both the digital signature, the big unique long string of letters and numbers that is the actual thing that you're buying and the artist signature, that kind of fingerprint or footprint that link to the artist that you own something that was sold directly by them, even if it was sold to you through a third party or a fourth party, you can trace the lineage back. You can be absolutely certain that that is the thing, even if it's a graded baseball card or a graded video game in a box, it could be a elaborate reconstruction. Someone could have spent millions of dollars to create a fake video game to trick you, whereas you can spend as much money as you want. You can't recreate that digital signature. It is the thing. So I think for those reasons, it's going to still have value. Of course, Curio cards are the best NFTs and they were before crypto punks. Everyone knows that, right? Moving on to predictions. I know you're just very quickly troubleshooting. And wanted to say how great Curio cards were, of course. I'm trying to look at, I do have an NFT, but I went to OpenSea to look at it and there's a there's a fair of 504. So what happens when, where can you look at your NFT? Like if it's not on, because it's a lot of marketing, but it's much harder for you to look at it, depending on where it's stored. You can do the token, but you can't see the image, right? That's one thing that's kind of bad about NFTs right now is that a lot of them are they literally stored on OpenSea. So like a lot of them are stored on IPFS, even OpenSea and Wax will give you an option where you can upload the image to IPFS. But if there's not like an original host for IPFS, if all the hosts go, the image could still disappear. But again, you'd have that amazing, wonderful feeling that you supported the artist and you bought it correctly. And that, you know, it was organic and homegrown and full of tegrity, full of tegrity. Maybe a little less tegrity, if it was made this year, you know, has to be like an old one to really get that tegrity, you know, there's less tegrity. Enough stalling, Dan Eve predictions. Tell us the future predict something now. I have I've got a bad feeling about the future and and I predict that in his in his last stand, Craig Wright and Van Eyre will club together and they will they will sell off all their Bitcoin BSV profits or whatever. And they're going to outbid Peter McCormack and turn Bedford into the Bedford Bitcoin BSV football club. And it will be a savage Christmas disaster. Complete nightmare. It'll be just like the Constitution now. The Bitcoiners will publicly say we've raised $42 million to buy this club and their Craig Wright will be like 42 million and one Professor Rettler, this is your chance. Predict the future. What will happen? I was also going to be a Craig Wright prediction. I was going to predict that none of the Satoshi coins move. Perhaps a more surprising prediction. I predict that at some point within the next two months, the Bitcoin SV foundation or whoever runs Bitcoin SV will decide that since Craig Wright is Satoshi, they need to assign all of the coins that are all the BSV coins that are in the Satoshi wallet to an address that is actually controlled by Craig Wright. And it will be very hard for the BSV community to disagree. But I'm super interested to see what happens after that. A major prediction and a minor prediction. Very good. Martín Wishmeier, you predict the future. Prediction. Not a story of the week, right? I predict that we will not see 100k Bitcoin this year. It's an easy prediction. But I do predict that before the end of next year, we will briefly see 100k for a Bitcoin price. Really going out on a limb that really adventurous prediction. Not shit, Gala, your prediction. Yeah, wow. I'm really stuck with this prediction one this year. I think by the end of the year, we will see 100k. No, I don't know. I don't know my prediction. I'm sorry. I think we like that one. I think we'll have to chart that with tone waves. We'll get out the triangles and predict our balls and all of our other tools and instruments. We'll figure that out. All right, Dan, Eve, story of the week. I'll bet it's all about this football club musical. You've got us a deal. We've got the songwriting already happening. Yeah. Yeah. Story of the week. Well, it's a personal story of the week, but I'm going to have another little boy by the sounds of it. So we had a little scan. Not me personally. Hey, yeah. It's my little story, non-crypto. Although I will get as soon as it's born. I've got like Hudson had had a Bitcoin onesie. So I'll get the I'll get the latest edition in a Bitcoin onesie too. The lives of me as long as you're not having it personally. I want to Bitcoin onesie myself. I don't know. I don't know. Everyone is seeing you in a Bitcoin onesie. Yeah, you don't want to see me in a Bitcoin onesie. How long? How long they must make those Bitcoin onesies for adults. It has been spoken. Professor Retler, do you have a story of the week? Go ahead. Oh, I've got to follow the guy who's having a baby. Story of the week. Chuck Berry coming on after Jerry Lee Lewis burning the piano. No, I got nothing. Billy Elliott, football musical, Peter McCormick, call me. Martin Wismer story of the week. Well, it's not my story, but because Ben is not here, I just want to highlight it to the viewers that if you follow the World Crypto Network, you've seen a few episodes ago where Ben shows how to make an offline working vending machine running on night lighting network. Yeah, there it is. And I highly recommend every maker to look at that. It's something you can easily build at home. It's something that will help you learn a lot about Bitcoin, how Bitcoin works, how the lightning network works. It's super cool. It works offline. So you can really like, amaze all your friends once you've built it. If 250 is a bit too expensive for your taste as a hobby project, then I recommend to start with the Lightning URL POS. You should do something about this branding because those names are weird. But it's a point of sale terminal, which should for like 36 bucks. You can create your own. It will teach you something about electronics. You just follow the instructions. It's super cool. It's really a super cool. I think Ben should have been on the show, bragging about it and pimping this project. But this probably already on to something else. The way here it shows, you pay with your lightning wallet basically. You get a pin, then you enter the pin on your vending machine. And then your product is dispensed. The vending machine itself does not need internet, but you do need of course internet on your phone to make the transaction. I think it's just super cool. Ben was here this show. I think we maybe should have a show dedicated to LNBITS, which is the engine that powers this project. But it powers so many projects that I think we can justify having a whole show dedicated to LNBITS. But it's hard to find Ben. Get him on the show because he's always busy. He's always busy doing some rocket scientists in his mad scientist laboratory. But it's not my story of the week, but it was the story that really got my attention this week. I recommend everybody at home, like either build yourself a vending machine or if you want to keep it simple and want to check your skills, make yourself a lightning URL point of sale terminal, start charging all your friends in lightning. So that's it. Yeah, it's long for a story of the week, but Ben is not the year. So I'll promote for him. But you know, check out that video and thumbs up. Definitely a great story of the week. Shout out to Ben, excellent video and vending machine. Josh Shagalla, story of the week. The story of the week is we raised a million bucks just over a million bucks on copper for the standard. Yay. Congratulations. Thank you. Yeah. Yeah, she is. That'll help us really. Thank you so much for the community out there. And we've got a YouTube channel as well started and it's really fun. We've got a little studio built. And we do that. But the other bit of news is that after dealing with the nightmare that is a theorem for this sale, like the fees are just like insane, like ridiculous. It's not really scalable at all as far as I can tell. I had a chat to Peter Todd and I was like, Hey, Pete, like, is this going to scale? And he's like, never, it just won't. You need to rewrite it fundamentally. I don't know, I think there is, I'm still very excited. Some of the layer two stuff on a theorem. I do think it's very useful just like on Bitcoin, Bitcoin can't scale either in the same manner. We do need layer two's. And for this reason, we're now scoping after really being there and our devs are really looking deep into some of the cryptography on the layer two sort of theorem. But what we're starting to also look into now is the layer two sort of Bitcoin and some of the stuff that they're doing on RGB as well as some other things like RSK relooking into RSK is, you know, those projects have really come a long way and I'm pretty impressed. So I, you know, we're going to be talking with the DAO, the community to really figure out which base technology we are going to build this thing on and once that happens, then we, you know, I mean, the good thing is, EVM is kind of a standard in terms of Spark Contract. So you don't need to sort of hitch, hitch your cart at any horse, you can just sort of build it and then hitch it in the end. So it's one of these evolving stories. We'll see who can scale the best by the time we built this thing sort of the start of second quarter next year. So we'll see, we'll see how we go. All right, it's great news, Josh. Sure. Thanks. Yeah, cheers. It's great news and they'll have to save Ethereum because that's where I keep all my curio cards. Shout out to Professor Wally in the chat. He says, uh, sub fool. Good job. E Turo on their NFT partnership with House of Legends, maybe legal legends. I was also impressed to see the Ubisoft NFT partnership. They say they're going to make NFTs for all the items in their games. Uh, they're their customers, their employees don't seem to understand this strategy, but anyone who's looked at this for a long time knows that game items are a big part of the NFTs. Once we have game items moving between games, then it maybe it isn't so expensive to make games. Maybe you can make a game around a single weapon, things like this, all kinds of possibilities open up. And thanks to Wally for the $50 donation as well. Yeah. They're saying in the chat, who killed Kenny and that Kenny is Satoshi. So keep an eye on that bastard. Stay killed Kenny. Basterds was the bastard. But it's also the bastards who tell us we're running out of time. So be sure to give us a thumbs up down below. Subscribe to this show. Thanks to rejoining us. Thanks for all our guests. And until next time,