#309 โ€” The Bitcoin Group #309 - Bear Market? - Saved by the Halvening - Commodification - Stolen Ape

๐Ÿ“… 2022-05-27๐Ÿ“ 7,683 words

The Bitcoin Group, the American original. For over the last ten seconds, the sharpest Satoshi's, the best bitcoins, the hardest crypto currency talk. We'd like to welcome our panelists, Dan Eave, the crypto raptor. You want to get hot? And I'm Thomas Hunt with the World Crypto Network. Moving on to issue one. Issue one, fidelity Bitcoin investors rise by 730% despite market turmoil. The total number of investments has dropped significantly, but the size of the fund has remained the same for the second year. However, the number of investors into Fidelity's Bitcoin fund has increased significantly. It's increased from around 83 to 689, representing a 730% increase in Bitcoin investors. Dan Eave, I thought crypto was dead. How could there be new investors into the Fidelity fund? It's almost like people are using this downtime as an advantage to buy some cheap Bitcoin. Maybe they're behind the dip, right? That's the main thing. Obviously, we're a bit away from all time high of what's 67K. So now is the time to be slowly dipping in, right? If you've been a bit unsure about buying into Bitcoin, you're wise and you don't want to buy in when it's at all time high. Now we're seeing, I think, a lot more banks, a lot more other mainstream companies that are actually buying into Bitcoin and allowing their customers to buy into it, especially if they're opening up to 401Ks and pensions and things. They did mention this article, they're saying, well, wouldn't it be good if there was a Bitcoin ETF? I thought there was a Bitcoin ETF, but it's a futures, right? It's not spot. They must be. Yeah, there's a spot ETF still. It's just futures. Yeah. But no, I think ultimately it's good that it's a sign that the retail investors are interested. They want to do a bit of long-term holding. I wonder about if there's any limitations, right? If the pension companies or the 401K companies that are like a fidelity are allowing it, whether they're limiting it to saying, right, only 10% of your portfolio can be in Bitcoin to try and protect their customers. Ultimately, opening it up to the wider world is a positive thing and buying the dip. I saw a great tweet recently where they said, I only invest in safe companies like Amazon.com and then they showed Amazon going down 25%. Well, Netflix. Oh, so yes, it's a bad time for all of the markets and this has also been a bad time for Bitcoin and crypto markets. I don't know if it's going to go down more. I don't know if it's going to go up, but I do know what these people are doing is what smart money does. You buy when there's blood in the water. You buy when there's fear in the streets. When everyone's feeling good, when everyone thinks it goes up forever, that's the hardest thing you have to do and that's when you have to sell. If you want to try to time these cycles, if you have a job, if you have some money saved up and you don't have to time these cycles, you believe in Bitcoin long-term, you can just hold your Bitcoin and if it works itself out, it goes back up, everything was fine. I saw a really great Michael Staler tweet, not a great big fan of his, but he said something that I think is important. He said, Bitcoin's the only investment material. The only thing in the world where when demand goes up, supply does not go up. It's an amazing kind of good where everyone in the world could want it. Everyone wants to pay for it naturally in the any other market. You would pump out more. You would make more of whatever it is, even if you have to set up huge factory farms and pump out chickens in horrible environments, you would make more chickens. With Bitcoin, you can't make more Bitcoin. I don't know where we go with this thing. Obviously, we've seen the stock markets recover. Bitcoin has not followed the stock markets back up yet, but it's only been a few days. We'll have to see how the wider market does after the Fed announcement. That's a good point about really stocks. You don't make more stock. Actually, Bitcoin is quite similar. In fact, it does inflate slightly, and it obviously very gradually, and there's going to be a half an end soon. But it is more comparable to say stocks, not raw material, where you mine more gold or you mine more of X or Y. It's similar to stocks in that way, unless you dilute the supply. Last week, we could get us one of those asteroids full of gold. Bring it back to the earth and mine it. I keep looking for an asteroid full of Bitcoin, and I just can't find one. All those nebulous made of alcohol, pure effort, or nebulous man, drag one of those back to the earth. It's a good time, everyone talks about the dollar cost averaging. A good time to be dollar cost averaging is when Bitcoin is 60% down from all time highs. You know that it's going to be back up, and you've got a long way to go before it reaches back up to it's all time high. You just need to adjust your time preference briefly. It's a good way to ease in. We're about 60% down from all time high. Starting to dollar cost average and slowly buy into it, your pension, your 401k, or just generally slow buying and using whatever app you can. Then yeah, I think it's a good way. But obviously, never buy more than you can afford to lose. And don't be like my friend who was dollar cost averaging, and she was buying at the top, and then Bitcoin went down too much, and she stopped buying. Stop. You have to keep buying. Like the dollar cost average doesn't work out. If you only buy when it's expensive or whatever, you have to average it out, so that you get that average number. You really got to focus on that. So let's move on to the exit question. Everyone's favorite question. Dan, I'm sure you're ready for this. The price of Bitcoin this time next week, higher or lower. I think we still haven't got over the immediate effect of the terrelluna sort of stable coin crash, and all the fun about the extreme regulation that's going to be coming this way. So I think there's going to be a little further ripple. We're probably see Bitcoin a bit lower, but yeah, I don't have time to go on or I'm not as omnipotent as the and omniscient as the magic capable. So I don't profess to know what the price is going to do, but I do think it may go down a little bit. Well, I'm impressed with the stock market recovery. The Fed news sounds good, and I think they're going to turn this thing around. So I'm going to go with higher. I have, I'm on a vacation here. I'm in Paris, but I have purchased a small mini magic eight ball. Yes, that's right. This is the world's smallest Bitcoin predicting device, but it's still incredibly powerful. This is more powerful than all the triangles and all the lines and all the charts. It's also very difficult to read. Unfortunately, I have a flashlight. So here we go. Will the price of Bitcoin be higher this time next week? We're shaking the world's smallest magic eight ball and says maybe, maybe from the ball. That's what you're the ball. Like cover your own ass ball your first time on the show and you pull out a maybe. I love it. I love it ball like you're the champ. Anyway, let's keep moving moving on to issue two issue two. This eclipse like event is why Bitcoin could reach $100,000 by next year says forecaster who has made prescient calls. Well, what kind of an event? It must be obviously magic eight ball related, but let's go down and see. Apparently he's talking about the haveening. Yes, in 2024 Bitcoin is expected to have again. And yes, it is eclipse like because it happens whether we like it or not. The supply of Bitcoin will go down around 2024, depending on the block. When we hit the right block, this keeps happening to Bitcoin. It's a deflationary supply. So like Michael Seller was saying earlier Bitcoin doesn't increase its supply when it's more popular. Actually, it keeps decreasing its supply forever, no matter what it's in the code. So yes, this eclipse like event could save us. It looks good. Of course, it kind of feels desperate that we're down to like only the haveening can save us. But what do you think, Dan? Can the haveening save us? Oh, hell yeah. It's kind of, it's so far. There's what there's been three havenings and it's very clear that there's an effect of haveening right? You're reducing the supply. The miners aren't dumping as much on the on the market. It goes from what 6.25 Bitcoin per block to 3.125. And the effect on the rest of the market with Bitcoin dropping to what 2029, 28K, whatever it is now. Try not to look at the price even though we try and predict it. But the hash rate still actually grows day by day. I mean, it's on 205 extra hash is right now. So it's really only about 15% 20% down from all time high. And so the miners keep on mining. That's the main thing is that the security of the network keeps some growing even stronger, even though the price sort of like totals about, some people will predict crazy stuff. We've seen like less of these like $1 million Bitcoin predictions because we're in a semi bay on the run up to the next on the next harvining. But the main thing is, you know, as you said in the last around the last article, you can't just mine more Bitcoin, right? There's only 6.25 per block. And there's an adjustment difficulty adjustment every two weeks. So if suddenly like a load of hash rate hit the market and we went up to 500 extra hash is, then the difficulty would adjust. So you'd only have a very brief like, you know, a brief moment where you'd mine say an average of more than, you know, one block every 10 minutes. But the difficulty would adjust it's on, I think something crazy now like 29 trillion, 29, which is pretty much, I believe, at all time high. Like the 31.25 trillion difficulty and it's now like 29.89. So, you know, as the hash rate increases, the difficulty increases and that keeps the kind of block times pretty stable at one block every roughly 10 minutes. So I think the 100k prediction is definitely going to happen. It's just a case of when and you know, it would be cool if it's before the next harvining because that means if it hits 100k before the next harvining, then after the next harvining, it's going to be another mental price predicts right now that the crazy people who are like $7 trillion. What's amazing about the harvining structure is how obvious it's been since the beginning of Bitcoin. Since the beginning of Bitcoin, you could look at you can say, wow, the way this is designed to go down every time Bitcoin's going to be more valuable, especially if you're looking like things you're talking 6.25, you're talking 3.12, excuse me, we're starting to get to the point where pretty soon not even a whole Bitcoin will be made every 10 minutes by the miners. And what's fun about this is we always go through the same kind of cycle. First they say, there's not going to be a harvining effect. Everyone knows about it, everyone knows it's going down, we don't care. Then they get closer and they're like, there might be a harvining effect, you know, there's a lot less Bitcoin out here. And the miners start to notice that they're making less Bitcoin and the exchanges find it harder and harder to buy Bitcoin and Michael Saler and maybe even Naive Bukali have trouble buying more Bitcoin for their coffers. And it keeps going down. So it seems like really obvious that Bitcoin will be worth a lot of money if it takes off because of this brilliant deflationary harvining structure that we keep going through. So I enjoy that the media has found this. I think Eclipse is pretty good because it's a regular thing that happens. But still I think they're kind of saying like, I don't know if the harvining is going to happen or I don't know if it's going to have a big enough effect. It's going to. It's psychological. And then at the end of the day, it's real. It affects the market with scarcity. If you're in exchange and you're used to buying a thousand Bitcoin a week for your exchange and you can't get them and you have to go to all your side deals and you got to talk to miners directly, it's going to affect the market. It's going to make you want to pay more. Yes, I think the harvining will save us. But I think it's sad that we're already at this point. Just a few months ago, crypto and Bitcoin were on top of the world, completely unbeatable. 60,000 was a road bump on the way to 120k. Ethereum was going to 10k. Where'd all those people go? Was there something wrong with their magic meatballs? It was later. Yeah, the laser eyes. So 707 days to the next harvining. You made a really good point. I hadn't thought about it before. Now, when is the point that there will be less than one Bitcoin mind per block? It's actually, I think 20, 20, 20, 32. So in 2024, it will be 3.25. In 20, 20, 28, it will be 1.56. And in 20, 20, so 20, 32, it will be 0.78 Bitcoin per block. And that's going to be pretty momentum, like, like, when it went from 50 Bitcoin per block right from the start in 2009, down to 0.78. So that's a real big drop. And I think each harvining is just going to get more and more exciting along the way. Well, we all know how hard it is to even get hold of one Bitcoin. And like Dan said, I remember, even harder every time I remember when the miners were getting 50 Bitcoin, like Stan saying, you're like, gosh, I could get one, but they have 50. And every 10 minutes just cranking them out. Yes, 25, 12 and a half, six and a quarter, 3.12. We are on our way down. So once again, if you can manage to get your hands on one Bitcoin or maybe a 0.1 Bitcoin or a 0.01. And just hold it and see how it goes. Like Dan saying, in 10 years, which is a long time, but a lot of people bought Tesla 10 years ago, and they did really well. Anybody that bought Amazon still way up, this kind of long-term value investing in something that you think is valuable could work out for you. But again, don't invest more than you can afford to lose and all those kind of things. Don't take it too seriously. But let's see, exit question for this. I don't know. You think the happening will happen right down. This is pretty much guaranteed. We'll have the effect that this research is claiming. Will we see 100K by next year in advance of the happening or after the happening? Oh, I don't know. That's that's too hard to predict because it's, you know, the all-time high is just after like really within a couple years of the harvining and in 2017 it reached, you know, 20, well, the harvining was the previous harvining was 2060, right? So it took, you know, within two years it reached the all-time high. So I don't know. I kind of, I'm a bit bearish on where there were reach 100K and another all-time high before the next harvining. But it's almost the main thing is it's almost guaranteed, right? The likelihood of the code changing and they're not being a harvining in 2024 is so insanely like in for almost infinite desert, a little bit small. So maybe whether it reaches 100K before the harvining or not, I don't know. But I think that, you know, it's an almost dead sister that it will reach 100K after the next harvining. Well, I'm a bull and I'm bullish, so I'm going to agree with this guy. I think it's going to reach 100K before the next harvining because I think things are different now. What's different now is we have the media with us. We have crypto NBC reporting on it every day. We have everybody who got so excited reporting about the crypto winter and the price going down. And all of those people at some point have no choice but to learn about Bitcoin, to learn about what it actually is and how it actually works. And when they learn about this harvining structure and how it's a deflationary system that goes down by half every four years on average, they're going to freak out and they're going to lose their minds and they're going to start to understand what the early bit corners were talking about when they said, hey, this Bitcoin thing could be really valuable in the future. I think it's going to drive the price up before the harvining. Obviously, we'll probably have a downturn after harvining, you know, by the rumour, sell the news. And then again, after the harvining's when it really happens, the miners start holding on to more coins. The exchanges find it harder to buy coins. Michael Sailor can't make his thousand coin buy or whatever the guy makes these days. I think it's going to happen. I think we're on root for it. I think it's funny that the media is calling it an eclipse and that it's like a rare event. When we know it's a lot more like leap days. It's going to happen every, you know, leap days every couple of years, but every four years like the Olympics, whether you like it or not. So I'm all in on the harvining. And of course, we'll have another harvining party. And it's going to be great. And you can check out our previous harvining parties right here on the World Crypto Network. Harvining is the technical term for it. They called it having, but we're Bitcoin, we're internet people. So the word have a name caught on and is now more popular because the having is what's happening, but the have a name is the event when the having happens. If that makes any simple, simple, right? Very easy. It's like a, a news not limits. A news not limits because it's a self-defining acronym. It's GNU. But you know, that's what computer geeks like and this is our internet. So hey, check out WCN clips. We fixed the link in the description below. You can also just Google WCN clips and subscribe to get clips of this show. We have 107 subscribers. Thanks to the seven new subscribers for pushing that subscribe button. Check out WCN clips and send these clips around. These are good clips of the show. They're shorter than the show and they could get people interested in the show. It's also a great time to give us a thumbs up down below. Say hello in the chat. And let's get this party started. Moving on to issue three. Buy Partisan Bill in Shrining Bitcoin comma ether. That must be Ethereum. As commodities do in June. A Alliance of Republicans and Democrats with Senator Kristen Gillbrand of New York and a Republican Senator Synthin Lumus of Wyoming, I think, will begin unveiling legislation in June that will create a comprehensive baseline for cryptocurrency regulation in the United States. Yes, currently Bitcoin is seen as a currency or what is it? It's not a currency. It's taxed all the time. I think making it a commodity would change that. Dan, is this good for Bitcoin? These two senators attempting to regulate it and declare as a commodity? It's good for American politics. There's something buy Partisan going along. It's very polarised, isn't it? American politics. Whether it's a commodity, I don't know, I see that almost as a bit of a negative thing. If it's a commodity, there's more control over it from the government. If it's a currency, it's almost less controllable. The commodity has there's more control over it, generally more regulation from a tax perspective as well. Obviously, it's a bit more negative. I just think that it's a cryptocurrency. It's meant to be cash. It's not meant to be a commodity. I think it should always be considered as a currency. It's what it was made to be used as a current team to potentially eventually replace currencies. But generally, quite positive that politicians are talking about it in a positive way. It's not like this is Bitcoin thing, and we're going to ban it. Again, it's this whole situation where although we don't want regulation, but it lends credence to the fact that people aren't just trying to ban it. When they're trying to actually allow people to interact with it, to use Bitcoin, to have Bitcoin, then it shows that it's something that can be trusted even by the government. Even if you don't trust the government, there's always going to be people that trust the government and they're going to be like, oh, okay, the government says that Bitcoin isn't actually too bad. It's an asset that we can have. They're not banning it. They're not badting the mining of it. So although it's not a fantastic situation that is being treated as a commodity rather than a currency, it's generally, I think, positive for Bitcoin. I'd agree. I think yes, it's unfortunate that they're saying it's a commodity, not a currency. We've seen the same thing happen in Portugal where at least the first vote to tax cryptocurrency failed. So that was interesting. But I agree with you. It's great that they're not talking about banning it and blocking it. These two senators want to work with Bitcoin and Ethereum and cryptocurrency, and they don't want to wipe it out. So once again, they're seeing more to gain from having these things in your country, having businesses that work with cryptocurrency, then trying to get rid of it entirely. So it's a positive step, but it might be kind of a muddled step. Once again, all of this will come true when the other currencies try to match up against Bitcoin and they can't. It's going to take a long time for people to have to make those comparisons for them to be in situations where they need a free currency that you can use to buy anything, not a limited currency that can only buy some things. And I think we're going to get to that point and more and more people are going to realize when you want to buy anything, you use this internet money. When you want to buy what Caesar's got or what the government's given you, you use the government money. But Bitcoin has a lot more to go. Like you said, Dan, it's a very partisan environment here in the United States. Force prediction. Will this bill pass? Will it be signed by the president? I think it's got a chance of it, right? Anything that is part of it has got more chance of being signed than something that's a lot more polarized. So if you've got both a Republican and a Democrat, both working on their own parties, then I think it's got a lot more chance of going through than if you had just a couple of Republicans or just a couple of Democrats trying to push you through because then you'll see the opposition kind of opposing them for whatever general reason that they want to disagree on. But any corporation is a good thing. And yeah, I think it is much more likely to go through because of the fact that they're working together. Well, I'd agree hardly anything's happening in Congress anymore. They're definitely going to need more than two senators to get on board with this. But if they do, this could be kind of a positive regulation for a new industry trying to encourage it, not to kill it. Republicans are in favor of business. Democrats are in favor of unions and getting people's jobs. Maybe this will work together and they'll come together to not chase cryptocurrency out of this country as we've seen with China and others. I don't know. I'm going to go like maybe seven out of 10. I don't know. Maybe five out of 10. It's very hard to believe Congress could get anything done in the United States. It's so bad over here. But there's still a lot of hatred for Bitcoin because of the general, the fun of the day, the thing of the day for Bitcoin is the environmental impact. We're still seeing all those articles. Anyone that's very environmentally focused, they're probably not going to vote for Bitcoin. And even Ethereum right now because there's something that benefits Ethereum as well because they're still mining, right? It's not proof of stake yet. It's still going to be against the policies that people are pushing. How can you push a Green Deal and also vote for regulation of Bitcoin unless it comes in some sort of package where you say that Bitcoin can only be mind-green or putting other restrictions in place. I think there's still a lot of opposition on both sides and probably from the greenies. That sounds just like new people to Bitcoin. They come in one day and they want to change the mining algorithm. They want to change it to proof of stake. They've got all these ideas. They're here to fix Bitcoin. You've been missing them and they're here to help. Yeah, I agree Dan. The green aspect of it, even though we hear, and if you've been watching the show, you know that it's a joke. You know that it uses less power than PlayStation 2s that are left on. You know it uses less power than Christmas lights. You know it has a benefit to society. And you also know that the thing about Bitcoin is it's with everything else like banks and such. It's hard to calculate how much power they use. With Bitcoin, it's really easy. You just multiply in this number by that number. You can't just multiply it off years into the future like they do, though, because of technology. So yes, I think Bitcoin will get more greener, but this may be a problem for Congress and they might not be able to pass this bill. And as much as I like her on some issues, I can hear Elizabeth Warren screaming about it already. And she's a very shrill. She has very shrill voice. So very strong, though. She's a good senator. She she means well, moving on to issue for a board ape lawsuit. Yes, actor Seth Green, star of the Austin Powers movies, Dr. Evil Sun, had a great plan. He had some NFTs and he was going to make an animated TV show. As some of you know, the new board ape yacht club NFTs allow you to actually own the character that you purchase and create derivative works with that character. Seth Green owned a board ape yacht club character and had written an entire sitcom around this and other characters. This is where it gets fishy. We have to kind of be cruel to Seth here. He had bad op-seq. Obviously, this is a very valuable board ape that he spent a lot of time on, but apparently just kept it on his normal computer. And he just browsed around the internet, clicking on things. And he clicked on the wrong thing. He went to a website that was a copy of another website. He pushed some buttons on there and the hacker stole his board ape. The one he was going to make the TV show about. The board ape has since been resold to another person, not a hacker, not a criminal, as far as we know. And they refuse to give it back to Seth, although they might just, they might do it for money. We'll have to see how the story works out. But what's really interesting now is that Seth Green is going, it seems like he's going to attempt to sue them to get his NFT back, which we all know isn't going to work, isn't going to establish any good precedents for NFTs. The whole point is if you own it, you own it. And in the case of the board ape yacht club and some other NFTs, they've put the license with the NFT. So if you own the NFT, you own the license, doesn't matter what you had planned. Maybe he should buy a different ape that looks similar. Dan, Eve, what do you think about Seth Green? And this very interesting potential NFT lawsuit. Well, it's definitely another, another point where you've got to reflect and think about how much you're connecting with other sites, like using your NFT. Because there's some really cool ideas that come with NFTs, like the ability to use it as a ticket. So you're seeing loads of sites pop up where you can, if you have an NFT, and certainly like something like board ape yacht club, because they know that there's going to be high net worth individuals that have these. So you're suddenly in this new club, you're in this new section of the website, you get these new features. And so people are probably quite open to using to using their NFT, their board ape, to get them into these kind of extra special VIP sort of areas. But of course, you're not just perhaps signing a message to show you've got the NFT, you could be literally signing it away. And that's what he did. He got fished right. And it's pretty savage, but it happens to the best of us. I remember the one the first times I'm not going to like the myether wallet. I think when it was like a when it back in the day, when there was the pimp with the file, right, the Jason file, I think it was and luckily I had almost nothing on there. But I uploaded it to a site that I thought was myether wallet, but it was just like a real very clever, close version that was like myether and then capital, capital, capital eyes, right, that look like else or something like that. It was crazy. But the fact is that they've put these rights on the on the NFT. And so it doesn't sit with the true owner of it, even if it got stolen from you. What's interesting is the guy that bought it for 200k, you know, how how do you prove that he wasn't the original scammer? That's a kind of a difficult thing because he could have just he could have just like scammed it out and he could have built that site and then just gave it to himself because he had 200, 200, 200, $1000 worth of ether and just fake to transact something, not fake to transact, but you know, pretend that he'd bought it off someone and then game this and game this wallet, your club and then use some sort of mixer or whatever in order to be able to to funnel his ethereum out and then keep the board ape, right? And then he uses it and says, well, no, I actually bought it from from someone. So you can't you know, you can't go go after me for it. I think in the UK, the property rights are slightly different. So like if you bought like, I don't know, a stolen car or something from someone, you end up losing that that car because it would be returned to the rightful person. So I'm not sure, you know, it's obviously different anywhere in the world, but it sounds like he's put his foot in it by trying to say that he can legally go after this guy, the person who stole it originally and that it's, you know, it's rightfully his. I very much doubt it's going to go anywhere. I think he is not made a good case for himself by by laying out the line. Maybe the best thing he could have done was was just adapt the use the the publicity from from losing his board ape and then buy another cheaper ape and then base it around that. And then he could that's probably the better way of doing it. Maybe he's even doing this this this sort of lawsuit to get more publicity and he already has one and then he's just going to rewrite it and then yeah, that would be the kind of clever thing. Maybe he's going to try and use like the what's it the striser defect to his own to his own benefit rather than to his own detriment. But ultimately, this is the cool thing about NFTs. They're you know, they're they're they're ticket everywhere to these certain sites, but you just got to be really careful. You can't be fished in and you know, opsec is a is a really yeah, it's something that you should be thinking of all the time, especially if you're you know, if you are someone who dabbles in like defying stuff like that, it's really easy to have them set up a fake site to think you're signing away your dollars into some really high paying apy defy kind of protocol and then you know, something happens and and and you signed it to to a fake site or something. So you've just got to be really aware of what you're doing with your money, right? It's it's almost like the equivalent of I don't know having like, you know, a hundred grand in your wallet and being a bar and being like, yeah, I'm just you know, here's my hundred grand and like not expecting for someone to try and mug you or something. I don't know. It's yeah, it's it's definitely a wake up call that you can have something of such high value stolen from you so easily. I like the idea that he could be gaslighting all of us that this is just advertising for his TV show. I think that's a good idea Dan. We're gonna have to look at that more. Once again, with the technical aspects, he doesn't have to be very technical to make sure that this doesn't happen to him. Really, all he'd have to do is buy two laptops. You put your board ape and your fancy NFTs, you're going to make your TV show about on your special laptop and then you close it and you put in your safe and you never turn it on again. And that's it. You've just locked down your ape. There's no way it can be accidentally stolen. It'll be there on that computer. There's more advanced ways to do this. Certainly could put it into treasure wallet or something like that. But let's say Seth Green doesn't know about any of that. At the very least you could say, hey Seth, here's your NFT laptop that you only use to store NFTs on. You never browse any of your dirty websites on this laptop. Bitcoin users used to do this back in the day. They'd take their older laptop. They'd air-gap it. They'd separate it from the network. They'd even do crazy things like taking out the Wi-Fi card physically, burning out the network card port stuff like that, trying to make it really safe and secure. And then they'd send Bitcoin in and never do anything with it. If they needed to send the Bitcoin out, they could sign the transaction. Maybe put it on a USB stick, put the USB stick on your other laptop, upload the transaction. Your original laptop is safe. So he could have been safe. I like the idea though that he could be fishing us all and he could sign the new, get a new ape in there. But yes, he stuck his foot in the mouth when he did this ridiculous idea that he could sue someone and reverse the blockchain. Because the problem with that, we all know as Bitcoin and crypto people when the judge puts down his or her hammer and says, return that ape to Seth Green. Nothing happens. Unless they know who this guy is, unless they can get him physically in whatever country in the entire world he could be in. And like Dan said, we don't even know if he's the scammer. He very well could be. Or she or them or it or whatever. And yes, it's just not going to work. It's a bad idea. I think incest offense. I think he was kind of desperate. He couldn't, he couldn't seem to figure out who had the ape now. So he couldn't get in them, touch with them directly. It sounds like the media has helped him out. The people who do have it want to be contacted. I'm sure they want to say something like give us twice as much or give us five times as much. And I don't know if it's worth it, if that's worth that to Seth Green. But it's an interesting story. We'll have to see out. Turns out. And again, it's, it's unfortunate, but it is kind of cosmically funny that the first time someone would try to do a big NFT TV show, their NFT star, a very expensive star, the the ape gets stolen. It's almost too good, like Dan said. So we'll have to see if it turns out true or not. And how many hops like with with that right? So that's considered, um, you know, the it's a clean ape by the law, right? The person who owns it now, even though it got stolen, so it went to one address. Well, they said that it wasn't, it wasn't flagged on OpenC when the guy bought it. So he feels he's bought a legitimate thing. But now I think that the story's gone now. I think OpenC would have flagged it. Now the flagging doesn't affect anything. If it has a flag, it says, this is, this ape may be stolen. You could just shrug your shoulders and buy that ape anyway, right? You don't have to respect this. The community, they keep trying to help people when they lose all of their apes or all of their NFTs. But as we know with Bitcoin and everything else, there's no one to bail you out. It's nice of the community to try to do this. Like it's admirable. I respect it. I just don't think it's going to work at all. But they're trying it anyway. The value of that, they must must go up significantly now, right? Because it's now a famous, it's like one of the more famous board apes. It's like, you know, it's it's a dirty money board ape. So if anything, the guy who's got it or girl who's got it now, it must be laughing. Because they're right, right. My board ape has been all through the media. There's potentially going to be a court case about it, which he's almost certainly going to lose. So now this board ape specifically is infamous. So yeah, it's sad to see someone sown away like their board ape to a fishing scam or whatever. But yeah, be interested. What would be hilarious is if the got the person who owns it, I keep on saying, guy, that's sexist. It could be a girl or an it or a sim or a sir, who knows? It's 2022. But whoever it is now creates their own comedy about it like before Seth Green does. That would be great. They could put it right onto YouTube. And for all we know, it's an AI that's stolen it. And the AI could make his own show as well. But yes, it's a great story. We'll have to see how it turns out. And again, it all could have been avoided if Seth Green had a decent IT guy and a budget to buy a second laptop. He owns a $200,000 NFT. Very clearly he could buy a $2,000 computer. It's very unfortunate. I hope that Seth and the rock and whoever else is listening, Paris Hilton, all of them will buy a second computer to put their stuff and maybe even a better solution. I'm not saying there's not better solutions out there, but just as a simple technical person, never use your NFT computer on the internet. You'll get fished like Seth Green, like the rest of us. Everyone's clicked on a bad link every once in a while. But this was a particularly disastrous bad link. All right, Dan, exit question, predict the future. Will Seth get his ape back? Will the show go on? Well, there's two parts to that. So I think part one, he's not going to get his ape back. But part two, if he's sensible, he'll use this, you know, strizend effect and failing in court in order to be able to buy another board of ape and then to kind of morph the show or change the show to be more focused around his new board ape rather than his old one. See, I see Seth as an artist here. So I think that the questions are connected. If he gets his ape back, he does the show. If he doesn't get his ape back, I think he might torpedo the show. I think he might have to change the whole direction. Everything he's thinking about. I haven't seen the ape yet. The media hasn't been telling us the number that I know of. I've heard it described as a sullen, sad looking ape with a halo on his head. Sounds like a great character. I could see where Seth could use that to draw a lot of stories. And again, I could see how if you can't use that character, if you can't tell the story that you wanted to tell, you know, Effet, cancel the show. Forget it. Out of here. Now on the other side, how much is it worth to Seth Green? It was $1 million. $400 million. $1 million. Well, we'll have to see. I imagine that's what the guy who owns it now or the guy who owns it now is saying. She's like, Pona, Pona, baby evil. So we'll see how it goes. Best of luck to Seth Green and all the NFT people out there. And I mean, I'm interested in the show. I would check out the first episode of the show. I'm curious to see how it go. But like Dan said, with a stri-zend effect, now it's even more exciting. We've reached the end of the show. Dan, do you have a prediction or a story of the week? Well, I still think my prediction last week was the Bitcoin. I can't remember the exact price, but it was going to be like 27, 346 or something. And I think that we still got a little bit to go on this downturn. So I'm still sticking with that prediction. I'm just, I'm adjusting my time preference for the negativity rather than the positivity. So, but obviously, eventually only up. Or not only up, but eventually up. On a long enough timeline, the price of Bitcoin does seem to go up. And my story of the week this week is that I'm on vacation. I'm in Europe. I'm in Paris. And if you check out the Mad Bitcoins Twitter account, there's the Mona Lisa right there. It's just full of great images of art and other things that I'm seeing in Europe. Maybe too many images, which I've seen some people crazy. But if you're interested in some great images and stuff of my travels, I'll be sharing them on Mad Bitcoins. This is Mad Tour Number 6. But my graphics not there. But thanks to Finneep for making the graphic. And thanks for everybody for checking out my tweets and enjoying some exciting museum photos. I got to go to the Louvre today. And it's been great to be traveling again. Still a little uncertain out there. We could all get struck with the COVID at any time, unfortunately. But hopefully there's less of it now than there used to be. And people can get back to traveling and doing the things that they used to do. So thanks again to everybody for joining us. Give us a thumbs up down below. Say hi in the comments. Hello chat. I'll check out the chat later. But thanks so much. And until next time. Bye. Bye.

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