The Bitcoin Group, the American original. For over the last ten seconds, the sharpest sitoshis, the best bitcoins, the hardest crypto currency talk. We'd like to welcome our panelists, Josh Ziegalo from thestandard.io. Good evening ladies and gentlemen, good evening. And I am Thomas Hunt from the World Crypto Network. Moving on to issue one, Bitcoin $24,000 breakout elusive as Treasury yields Boc at peak inflation narrative. Has inflation peaked? The yield on the US 10-year Treasury note rose to a three-week high of 2.90 early today, sending the recovery from a low of 2.67. The continued rise in yields is perhaps a sign that traders of risk assets, including Bitcoin, might be wrong to conclude that inflation in the United States has peaked and that the Federal Reserve will probably slow liquidity tightening in the coming months. Josh Ziegalo has inflation in the United States peaked. His Bitcoin and the stock market with both seem tightly linked these days going back up. I personally don't think so. I think it's just getting markets are trying to deal with the situation and as they do and eventually, literally it's this easy. You print money, you're going to get inflation. And over the last two years, three, four years actually a lot longer, which has been printing money like crazy. COVID gets the blame, Russia gets the blame, all these blame, but actually it's a systemic problem where it's just very unpopular to tax more. So politicians generally print more rather than tax more. So that taxes the savers rather than the earners, which are sort of the same thing, but a little bit different and it goes a little bit more unnoticed. It's a little bit more nefarious. But I don't see it happening globally. They're just printing like crazy. The thing is if Europe continues printing and they haven't lifted negative interest rates yet, we're still at negative interest rates over here. If they just keep going, the US will want to keep up. And it's just a cat and mouse game globally down to the bottom. It's a race at the bottom. Well, I've seen many Bitcoiners and they all get so excited about inflation. Every inflation event is the big one and we're going all the way because I agree with Josh, I think that the general inflation theory is correct, but it's much more long term and much more gradual than people think. They all want it to hit that one emphasis point and then it goes up like crazy and they were so right. This wasn't it. The last one wasn't it. The next one probably won't be it either. I think inflation is peaked. The market's returning. It was a COVID shock. It was a supply problem. Supplies gone. It's worried. We're working through it. The market will recover and Bitcoin and the stock market seemed tightly linked and will follow each other up. Looks like we're joined by Dan Eve, but he's stuck in the waiting room. I don't know how I manage that. Josh and Gala, the exit question, picked the price of Bitcoin as they said here. It's attempted to break 24,000 seven different times. Let's see if we can get that on the screen so you can see the chart. Look, since July the 20th, the price of Bitcoin has failed seven times to close above $24,000 Josh and Gala predicting against the travel magic Bitcoin eight ball. Will the price rise above $24,000? Is it going up or down next? Actually, the key to that chart is to see what the volume is doing. If the volume's going crazy up and the prices are getting smaller and smaller, then that could actually be a sign of a going down, of hitting it down. It's either way this market right now. It's really is. Let's see. I know that if you look at a macro level, people have not got that. The economy is really struggling right now in terms of businesses. I know personally just a lot of businesses going down the drain at the moment. They're really struggling in the crypto industry, especially because of the whole lunar and Celsius fallout, three hours capital fallout, that's got massive effects. We'll see. Generally, there's not vast amount of cash right now in the normies level. There's always vast amounts of cash. It's happening in normal places too, Josh, like the grocery store. I did some shopping this week. Even though it was online, overpriced, instacart shopping, everything had gone noticeably up. There's that old Big Mac index. There's the price of a two liter bottle of soda. There's these certain things that you kind of have in your head. You're like, that should be 99 cents and it's $2.00. Stuff like that. Things that were $5 are $8 now. It does affect you. It does affect how you spend. This is the most basic of all spending. This is basic food spending. We're also joined by Dan Eave. Dan, what do you think about the inflation numbers? They think it's peaked and that the markets and Bitcoin more importantly could be on their way back up. Well, I don't know, man. I'm thinking slightly more long-term, bear. I've been saying down for a while now and I've got to keep on saying it because I know that the law of averages is that if I say, finally, it's going to go up, it's going to go down. I'm going to have to stay on my downer until it actually goes down and that may be a while, maybe a few weeks, it may be a month. Hopefully it's quite soon. But I think our... Investors are still waiting. We've been to that. Tone Vase is still waiting. It's still waiting. For the $3,000 Bitcoin, hopefully it doesn't go down that low. But maybe something like crazy, like 12. If you just think about from all time high of 69, 80% down is going to be around about that sort of region. It would go in the previous patterns. We've been around up to 80% drop from all time high. But inflation's hitting hard. The UK, our bills are up crazy amounts. The... Especially electricity, things like electricity, obviously Bank of England have just raised the base rate as well. So, more vegetables or anything that's on a variable rate has gone up. But the impacts are far and wide. And that ripple factor, right? It's just like every industry is implicated or no, I'm kidding. It affected by it because, you know, if oil goes up and petrol goes up, then anything that's got a distribution network is likely to go up. You've got just so many things that are implicated by... Or had it been a grain of food and stuff like that. It's not just... It's not just the fact that the grain industry has been hampered a bit. It's the fact that meat's going to go up because chickens are fed by grain and stuff. So, just the way it just trickles down slowly into these kinds of... There's people's stocks run out and they've got a reorder. And suddenly the prices of their reordering goes up, then, you know, it's that trickle factor that goes up. But it's hitting hard and hopefully it does actually calm down a bit. But I don't know, it kind of looks like inflation is going to be here for a while. Especially, they're still... I mean, the US has recently got the raise that bill. So they're going to be printing more. I'm not sure about the ECB, but they... Didn't they recently back turn and say that they were like, oh, printing's bad. Like, not printing money's kind of bad. But they're probably going to go, well, it's not as bad as what we think stuff could be like. And then they're going to lie in the pockets of all the... That's a really cool microphone. So I've just noticed your microphone's on. Well, it does depend what you spend the money on. I think that the... Your microphone inflated. The kind of money that the things they're going to spend it on in this upcoming inflation reduction act, as I think they're calling it now, things like jobs in climate change. If you spend it on jobs and the jobs get money and they spend money, then the economy actually goes up. So it could actually have a positive effect on the economy. You have to look at where it's spent. Yeah. Well, then you should pay... Then you should pay... The government should pay for everybody to have spoons on... Instead of like big machinery on... You know, building sites to dig the holes. Because that... If it's a job building excise, then just pay people to dig with spoons. It'll take longer. And you can pay them longer. And that'll lift the economy, won't it? Exactly. It's a job building exercise. That's why you also get the infrastructure like the solar panels or the more efficient doors and windows. So you actually do have an effect on climate change. You have an effect on energy usage. It's like you pay... You know, you government funds some things so that you can have other larger effects on the market. The government does a lot of money. Government doesn't have money to fund things. That's what a lot of people don't forget. They think government has even money, but they're not productive. Why don't they... They're pretty scenario productive. They seem fine at creating wars and all kinds of other problems. There's plenty of government money being spent. It just seems like society is about pooling the money to attempt to improve society with this money rather than doing nothing and then being upset when you get bad results. But if you had Bitcoin and you just printed more Bitcoin, but you don't worry, we're giving it to create jobs. It'll make the Bitcoin worth more because we're creating jobs with that work. It seems like Bitcoin and the Fiat system are a different system. So what's good for the Fiat system might not be good for the Bitcoin system. What they should do is print more money and then buy miners with it and mine Bitcoin and then give that back to the people and that will counter inflation that they're causing around the world with all the money printing. And the government should have held the Silk Road Bitcoins and used it to build Smithsonian museums in all 50 states. Josh, Shagall, are you sticking with Dan on this negative price prediction here, predicting against the Bitcoin ball, the source of all known truth? Yeah, I actually do feel it's still going to go down. All right, here it is, then. With the price of Bitcoin be higher this time next week, this is still the travel ball. So shaking it may cause bubbles. Most likely, the ball has picked most likely, the price will be higher. Dan and Josh's pessimism continues to fight against the Bitcoin ball, the source of all truth. You're not going to be flying anymore, Thomas. The mad tour is over. There was a great opportunity there, though. It does seem like Bitcoin and Ethereum went up during the mad tour. You did, yeah. Moving on to issue two, BlackRock launches a private trust to give its clients exposure to spot Bitcoin. Yes, BlackRock, the largest private trust institutional clients in the United States has announced that they're now adding access to crypto assets no longer rat poison, no longer dirty Silk Road drug money, no longer libertarian currency that the computer geeks thought up ones and zeros on some strange computer being mined in the basement of your cousin. Now BlackRock, the major asset company is offering their customers access to Bitcoin. Dan, Eve, what's it like to win the war against the financial companies? Company after company after company is accepting Bitcoin and offering their clients what we've always said, the opportunity to buy Bitcoin. Well, BlackRock is like the end boss of investment companies, why they're over $3 trillion, which is unimaginable of assets under management. So they're kind of, that's a real signal. And it's incredible that what's more incredible is that Bitcoin, if that news had come out in 2020 and anything before 2020, the Bitcoin would have gone insanely pumping. But because Bitcoin is just such a household name now, I mean, obviously it's not everywhere. But it's almost like everyone's like, BlackRock, finally, they've come to the table. Larry Fink, he was one of the guys that sort of said it was, it was a money laundering tool and blah, blah, blah, all the negativity was finally turned round and obviously seen the light. So ultimately they provide pensions, they provide ETFs, they provide all sorts. So for people to get exposure to Bitcoin, via pension funds, for example, that they weren't ever supposed to be able to, I think that's a positive thing. It's opening up the exposure to Bitcoin. Of wonder if there was hints of rules from the UK, I'm not sure if it was, I don't think it's going to be associated with the EU, but anyone who involves investing crypto from a traditional banking product or a traditional bank can only invest like 10% of their entire net worth. And I'm not sure how they evaluate that, whether that's just 10% of the funds that are with the bank. So if you had 100 grand with whatever bank it was, HSBC, that you could only have 10,000 but you could have more elsewhere, for example. I'm not sure how that works exactly, but it's good that, again, this is a signaling flag. BlackRock and all these other companies are the enemy because they're not holding Bitcoin or at least we don't know if they're holding Bitcoin yet. They've just got derivatives or products that represent Bitcoin. So the real final boss moment will be when BlackRock says that we have X amount of Bitcoin on our balance sheet. They do a micro strategy and they put their, they put their inards on the table, whichever you have, because it's 2022. And they literally say, right, we've actually got, we hold Bitcoin and it's our own. We don't, that's literally, we own the private keys and we own the Bitcoin. That's the real test, I think. But now that's, at the moment, that's good news. They're huge amount of 3.5 trillion or something insane. So yeah, that's good news for Bitcoin, ultimately. Josh Shagala, what's it like to see BlackRock offering their customers direct access to drug money, money laundering and worthless ones and zeros? Yeah, it was bound to happen. I mean, anyone worth the, in the financial system, worth their weight and anything, it really has to end up offering a solid, something that's offered pretty much a positive yield in terms of capital gains, I think nine out of 10 years, or 11 or whatever it's been since 2009. Wow, more than that, that are, you know, you have to eventually go, well, we better offer our clients this. And I think that the industry's maturing as a whole, I mean, just the fact that the NFT space is kind of opening us up to another total market of people, of normal people. It shows that at least the more sophisticated investors are looking at DeFi and actually taking it serious. When I say DeFi, I actually mean Bitcoin, because Bitcoin is the original decentralized finance. But yeah, next up, honestly, is the DeFi space, you know, this is what I'm getting primed for with the standard is that everyone's getting used to using Metamask, everyone's getting used to log in to the Web 3 sort of stuff. BlackRock is offering Bitcoin. So it started, even if they're, you know, I think they're using Coinbase, I remember seeing an article saying that they're partnering with Coinbase. So, you know, the fact that people can have this, they mean, oh, the biggest professional, the mega investment fund allows us to now partake in this asset class also builds trust. So, you know, I think the next step really is that people start trusting decentralized finance a bit more. Of course, we need to grow up as an industry and stop being fools. But the thing is, it's all a learning curve. It's all an anti-fragile thing as we saw with tornado cash. And I think we're getting there in the show with that. But all of these events that happen, they all happen in Bitcoin is these major events. They strengthen the industry, they strengthen the resolve of people. And they remind people why decentralization is important. And I think when BlackRock starts to offer these products, people will jump on it and then realize why decentralization is important later on down the road. Exit question, Bitcoin and NFTs have conquered culture with football players, musicians, artists, banks, and even investment banks and Chipotle taking Bitcoin. Dan Eve, where will Bitcoin pop up next? What industry or artist or anything? Who would you like to see accepting Bitcoin or even NFTs next? Oh, well, I think NFTs seems to be like more, I don't know, more accepted. Where does that sounds like? As you can see Nike are getting involved in NFTs. There's musicians that are getting involved in NFTs. It's become, and especially, I think musicians is a no brainer because of the fact that it's kind of art, it's an artist, a musical artist, will have their form of digitalized art. But I think with Bitcoin, it's a lot more difficult because of the fact that it's had this history of growing up as this nefarious type of money used by Silk Road. And even though it's all BS, it's just a tool that was used by people that were doing things. It's not Bitcoin that's ultimately bad when you agree or disagree with what Silk Road did. The fact is that it's had so many nefarious articles whereas NFTs, they kind of haven't had that history of like, this is a really bad thing and us as a big company, you don't want to get involved in Bitcoin or NFTs because NFTs, they're just, they're all a different thing altogether. I'd like to see more countries, right? Ultimately, there's only three right at the moment that have accepted this, like, is it Panama, obviously, El Salvador, and there's one other, an African country, there's three ultimate, I think there's three. But I'd like to see more countries kind of, putting their money where their mouth is. And especially those that are detached from, or relying on the US dollar because this new money printing scheme that's happening recently, this bill that's been passed, that's going to affect countries again that rely on the dollar who are being inflated but don't get the benefits of the infrastructure or whatever else that's happening that the dollar being printed. So I'd like to see more of a cascade of countries accepting, countries accepting Bitcoin as legal tender. I agree with Dan on the NFTs. When we created our NFTs, we called them digital collectibles, but at the same time, we understood their value for marketing. You can give someone an NFT, you can see if it's in their wallet, you can see if they traded it to someone else, you get all this information about the marketing and at its core, and this horrifies Bitcoiners, but this has been obvious since the beginning, predicted by Andreas on this show many times, you can print your own money and whether your own money is a collectible, like a baseball card, a giveaway, like a chance to win a Nike thing or a little Nike emblem saying that you took partner contest or if it's actually money, you have the choice now with NFTs, you can make your own version of art or money and you can charge for it. And again, you're selling the signature, the underlying thing, which allows you to access to all of Bitcoin's incredible ability, the ability to send art across the internet, to not have to go meet this guy in a parking lot and give him the signature personally, to not put it in an envelope and trust the mail to deliver it, you send it over the internet, which is a great way to send things. I think Josh Agala, where will Bitcoin pop up next? Dan predicts more countries, I have my own prediction, but let's see what Josh says. I don't know where it will, but I hope that Amazon will take lightning payments, that will be really cool. And also start paying employees in different countries with Bitcoin. I mean, it's really great for these companies that are doing transnational business because you are dealing in a transnational currency that's globally recognized and has it. So I mean, I guess people could say that about the USD, but someone here in Europe doesn't really want USD, they want crypto. And you know, and that's why we're building stablecoins as well because I think like you said, art is a great use case, but I think at the end of the day, money needs to have what people are used to. People know how much this is in euros. They don't know how much it is in how many Satoshi's this in cost, they don't know how many grams of gold this didn't cost. They know, okay, it's pretty good deal at two euros, 50, they can't understand that. So this is why we're working on the standard IO. And by the way, we released these proof of attendance just to back up what you were saying, proof of attendance NFTs for our Twitter spaces yesterday. In fact, there's, I think there's like 40 left. So if you guys go over to the standard Twitter, the standard underscore IO and type in hashtag proof of attendance with your colleague on address, and I'll message you and you can pick a pick a proof of attendance ring, a power ring. They look really beautiful, generated from AI, mid-journey, and they look really stunning. Well, and that's the thing that's why NFTs are such effective marketing. You think that you're just giving away trinkets, but for the people who value your project to attend every one of these meetings, they could get a full set of the rings. They could get a full set of whatever the items are. And in their own little way, they are a part of the project. And maybe they have perfect attendance. Maybe they have three out of four attendance. They could even go on a secondary market and purchase a ticket stub, essentially, from someone else who doesn't want theirs. Yeah, and you know, the thing is they could unlock other things in the future. Like we could air drop TST on people that have been on the attend attend of the things or something like that. I don't know. There's nothing set in stone yet, but there are definitely ideas and plans in the backend. And all these NFTs have different categories as well. Like some have these power lines and some have these, these, I don't know, these amazing, just go check them out. I'll post a link here and you can check them out. Damn, it's spreading locally as here as well in Las Vegas, where I just returned to the local casino, the brand new Circa Casino had a special NFT that they sold. And part of the NFT let you into their special party. They gave you a book, they gave you some free drinks, you get a sweet and a limo ride, all this stuff, as part of the NFT. And part of it is marketing, but another part of it is a collectible. And what's even more interesting here is remember when PayPal was created, PayPal could have created something like Bitcoin. But they knew right away if it was out of their control, it could be traded for anything, right? It could be used for any nefarious purpose and they'd have no power over it. In the same way, this NFT created by Josh, this NFT created by the Circa Casino, it could be used in a prison somewhere as their main source of currency. A dictator could adopt it and say, we're going on the power rings standard and they could just accept it. A video game could be built and the only way to advance in the game is to buy these rings. Any of these things are possible because they're just code on the internet, they're just addresses and it's just a proof that you own the thing. So all of these things are possible, it just hasn't happened yet. But the correct answer is ATM machines and cash registers. Even though I have good friends in the Bitcoin ATM industry, it does drive me crazy to think about all these computers that could display QR codes that could send Bitcoin and take in cash that have an existing system that are also in banks in front of banks, they have armored cars coming already. They could be selling and accepting Bitcoin and Lightning the same thing for every cash register. It could be upgraded, it could display a QR code, we could scan it and we could use Bitcoin everywhere. We just need ATM machines and cash registers, the real one. The only thing that is right, the ATM's as they are configured, like most of them are their output only right in terms of physical cash. So that's the downside to ATM's, they would need an upgrade to take cash in order to get Bitcoin, but they could be upgraded in some way that allows you to just go there and just get a QR code and pay by your bank and just buy by the Bitcoin. But then I suppose you could just do it in an app. But that is like the, yeah, that was a real trick that I think that was missed by banks adopting Bitcoin in the early days is that they could have adjusted their ATM's and use their existing distribution network to be able to let people buy Bitcoin. And if you think now, you know, micro-striker is getting a bit of a bad name because the shareholders are a bit annoyed at the Bitcoin drops and they, like, but if they'd have gotten earlier when everyone else was hyping it, the years that people spent saying, Bitcoin is a way forward, you know, it'd be a completely different, different story and that infrastructure. And that's when we really needed, we really needed micro-strategy. We really could have used having a CEO out there, having someone with this experience when they were just destroying Bitcoin for years and years saying it was drug money and no one came to our support. It was only after we'd fought all the battles that they came in. But that's, I think that's the, it needed to do that. It needed, Bitcoin needed to be under the radar. It needed to be something that just jumped up and there's so much infrastructure and people that are already in politicians in office that would be making decisions to keep, you know, to vote Bitcoin in, to keep it in there. And to be the person, you know, you think about how many times you were the person, you're the only person in the rich, like that meme where it's like, do they know that I'm into Bitcoin and it's like everyone's chatting away? And like, there's, you know, the slow creep up of Bitcoin being adopted, there was a politician in that room of politicians, like who's going to, you know, who's the one who's shilling Bitcoin and turning people around. It needed to be a slow kind of, a slow gradient that sort of suddenly went exponential in terms of adoption because otherwise, I think it could have been blocked a lot easier a lot earlier, whereas now it's so embedded in our culture and even, you know, even those early days, it's a lot harder to whack a mole out because it's just going to pop up elsewhere. So I think it kind of needed to be a bit of a slow start and then suddenly go, boom. Well, I agree with Dan. I think the ATM machines are getting better and better. They have more ones that will read the bills. They'll take a picture of the check. I think that a lot of people would want the, the banks might be uncertain selling Bitcoin for credit or even selling Bitcoin for the money in your account. But if you're standing there with $100 bill and you put it in the machine, I think the bank will sell you $100 or if the Bitcoin for that. But what about this micro strategy question? I want to open this up to the group and ask Josh next. During the scaling war, we saw Roger Veer become a B-Casher. We saw Brian Armstrong and Coinbase go from kind of a Bitcoin maximalist safe position to this exposed, cryptsy position, which seems to be causing the problems even now. Where do you think Michael Saler and micro strategy would have come out on the scaling war? First, the original idea, small blocks, big blocks, and then the Bitcoin 2X idea, Josh Shagalla. That's a really tough question. I mean, we, I was one of the first to sign the 2X paper from Roger and the reason was because we'd already been in a gridlock where none of the two sides wanted to move. Big blockers wanted big blocks, the small blocks wanted small blocks and some wanted even smaller. And really what it got down to was the fees were getting so high and it was killing the original vision of that, well, not the original vision, but the, when we first got into Bitcoin, it was like you could just send a Bitcoin and we were always talking about micro payments and nano payments and now we can bank the unbanked and suddenly we had, you know, we'd have all these memes in the early days of taking the piss out of the massive fees that like money gram and stuff would take. And now all of a sudden that was just a joke because Bitcoin fees were way higher. And, but the problem was, it doesn't matter how big you make the blocks. And so I thought, look, we can come up with a good, you know, we have to give and we have to take. So let's just double the, double the block size to two meg and put seg with them. We're then we're then both parties are happy to beg. We can still transmit those blocks fairly easily. It's fine. Now, when Bitcoin cash then split in the, in the fork in the heart, in the hard fork, means Bitcoin cash, we'd already had the split and that's when I actually unsigned from the letter on behalf of Altaro. And because we now didn't need that anymore and that then caused a whole lot of kerfuffle, I think they've even got a mention in the Scaling Wars book about that, but it was, you know, it was a really interesting time because no one really knows the truth, you know, and this was the beauty of what Satoshi wrote that, hey, if you believe something strong enough, split it off, and upgrade to only that version and see if it works. We don't know yet. We have our assumptions. And when it comes to someone like micro strategy, it all for me depends on what they're using it for. You know, someone like micro strategies, obviously an investment in HODL strategy. So they don't need it to be constantly used. So I think they wouldn't have minded about the higher fees because it's, you know, that, well, you know, it costs quite a lot to buy gold and hold gold that fees are quite high. So, but it's a HODL strategy for gold. And so, whereas someone, if a big player like Amazon came on board, obviously their use cases to accept Bitcoin have Bitcoin useful. And so until the Lightning Network was there, and provable of how fast and amazing it is, they would have might have said, hey, we think big blocks are the way because, hey, we've got the technology, we have the massive data centers that run the internet, big blocks are fine. Let's just go with big blocks. They don't understand the centralization issue because they don't care about it. And so really, it's hard to know, but I feel that it depends on who they are and why they're into Bitcoin. Well, I want to surprise everyone and be optimistic about Michael Saler here. I think you would have seen the opportunity to counter Bitmain and Roger and the opportunity to really wave the flag for the small blocker size. At the time, if you go back, we didn't have any CEOs, we didn't have any large companies with the small blockers. So I think Saler would have seen it as an opportunity to make a wedge and opportunity to become the standard bearer and the winner of the small block size. And I think that there's a possibility he would have been up there challenging Roger Vier saying, I will sell all of my Bitcoin cash if you sell all of your Bitcoin original chain, and we can do it publicly and we can do it on the blockchain. And I think Saler's the kind of guy he would have put up a website where it said, how much did Roger lose, how much did Michael Saler make? And you could check that site all the time to see who won. Dan, what do you think about Saler and MicroStrategy, which side would they've come down on in the scaling war? I think it depends how far down the rabbit hole they were. Because even safe, safe, for example, Elon, everyone thought he was hugely bullish on Bitcoin and had done his research and then suddenly goes, oh, OK. And it's bad for the environment. And so he took a sound bite of one particular thing and then sort of you turned on it. So it really depends on how much research they would have done at that particular point in time. And like, I'm with Josh in back in the early days, it was all about the store of value thing, a hodler was around then in terms of a term, but it wasn't as prominent as it is now. And in terms of store of value is the, and I think it's because Bitcoin has such a meteoric rise, the store of value has taken over. It's like, that's become the main thing rather than this sort of, again, banking the unbanked or unbanking the banks and unbanking the banks and banking the unbanked but being your own bank and all of those sorts of things, right? And low fees would have been a huge part of that. So banking, banking, banking, banking, banking, banking, banking, banking, banking, the unbanked banks. But it's my disappearing shoulder this, something about my shoulder, someone coming to that. But yeah, I think it depends on what sort of part of the cycle because logically, shoulder, logically, increase the block size and then you could fit more transactions and then it's cheaper. But then when you delve into it, there's a lot more technicalities about it, the reason why that's actually a bad idea. So I think that it's really touch and goes to where, at what point say it would have been and micro-strategy would have been at the time in terms of their own research when the big block debate actually happened. Well, let us know what you think in the comments and the chat below, do you think Sailor would have sided with the big blockers or the small blockers during the scaling war? Moving on, check out the World Crypto Network podcast being updated each week by Dr. Marwe. Good job, Dr. Marwe. We've got the latest episode and more. You can subscribe on Apple iTunes and many other places. There's more than 1,000 episodes on Apple iTunes. I doubt many podcasts have that many episodes. Moving on to issue three, what the sanctioning of tornado cash means for Bitcoin. Ethereum's to-nado cash protocol is being blacklisted by the government and they're getting mad at people who have been using the mixing service. Many people, they've even been dusting influencer accounts with dirty tornado cash coins to include them in the mix. Josh Shagall of this is privacy technology once again and it seems like the government doesn't like privacy technology. Yeah, you've got to remember the premise of the Cypherpunks was to have privacy for the week and transparency for the powerful. And tornado cash, I'm gonna dox myself here. I used it because Ethereum is so horrendous when it comes to privacy. I was paying someone and for something and I didn't want them to know all the other stuff I have. It's like if you go to the Your Corner Shop and you pay for some milk, do you want the person working at the corner store to have a look at your entire banking statement? Exactly how much you've got, where you spend it, what services you use, what other tokens you're in. What, when did this become normal? And so I just put it into tornado cash, left it in there for a bit and I used it because also I was interested in the technology that they built with the ZK zero knowledge proof stuff. And it worked really well. It was very, very nice, very easy to use. It was trustless. So you put it into a smart contract that was no custodian there unlike some of the tweets I've read. And yeah, it's really, really unfortunate that now that's been taken down, all that will happen though is it'll become more and more anti-fragile where people will just create this stuff. You know, it'll be just like when Powerbay got taken down, basically they towards the end there when Powerbay was getting really hunted down, they stopped putting the download button for the torrent file and started just putting magnetic links. So they put a lot more technology in magnetic links. So you didn't actually need to download that meant the file at the entire website could be shrunk to tiny amounts and then they put them on torrents. And so now anyone could fire up Powerbay and hey, Presto, so this is what will just happen. The technology's out of the bag. This sort of thing is just horrendous because there are absolute legitimate reasons for using mixes. You don't want everyone knowing what's going on and try running a business and your client's knowing where you're getting your widgets from that you're selling to them and not expecting your client to go to skip past you and go to this person you're buying from or to see how much and start haggling with you. Well, why know you bought that for this much? You need privacy in business. It's just how it works. And in fact, in the early days when we were still trying to get banks to accept Bitcoin back in the day, one of the big things that came up quite often were Bitcoin's not private enough. And that was a big aha moment. Oh, okay, interesting. So they actually want more privacy and not less. And this is just awful. And I think all it'll do is make Ethereum and cryptocurrency the whole scene more anti-fragile. And yeah, these mixes will just be a dime, it doesn't. I do love these government overreaction stories. It always reminds me of Star Wars when Obi-Wan Kenobi said, if you strike me down, I will become more powerful than you can possibly imagine. And every time they strike him down and he becomes more powerful. The rabbit is out of the hat, right? People want privacy technologies. Like Josh said, and I think it was Ben last week who said the government will be first in line to use these technologies. The government doesn't want you to know who they paid for what, especially when it comes to secret programs and CIA and bombers and other things like that. If they knew exactly what you were spending, they could counter with an equal or greater amount. Even the amount of money you use on secret programs is a valuable piece of data. Because if I'm spending twice or three times as much, maybe my government programs, maybe my military programs will be better. So yes, privacy and money is here to stay. I don't know about this idea that we're going to be able to continue building it in public and having hats and fundraising and all this kind of thing and just being like, oh, it's just normal. I'm into the Monero Z-Cache privacy money stack. I don't think that's going away. I think it's going back. Like Josh said, anonymous underground people like Satoshi, people making incremental advances. And remember Satoshi and Linux, before him, Linux, his genius was combining the tools that Stalman had created. The genius of Satoshi was combining the tools that Adam back and Wade died and other people had all created, combining them together. The privacy solution will likely be the same. I don't believe the privacy solution will come from a company or a public-funded project or an ICO or any of those things. Dan, Eve, your thoughts on tornado cash, especially the fun idea where they were dusting people's accounts. So now we don't know if that celebrity account was using tornado cash or using tornado cash. Well, that really mocks the idea of just being able to blanket bad. And actually, so I read the, I don't know if it's, I don't know how true it is, but the sequence of events seems like the US Treasury decided, you know, this is tornado cash bad. And so what they did was they went to Etoscan and then they looked, they literally typed in hashtag-horn tornado cash. And like any wallet that was any address that had been labeled as an act tornado cash by the public who have no idea. I mean, ultimately there's consensus or whatever, but you could, I could label your address as tornado cash and it's there, like, you know, you'd have to debate it and whatever and contest it to get it removed. But I can say that your address is tornado cash. Therefore, you know, the US Treasury, they published a list and they're like, this is sanctioned, then USDC shat themselves. And they suddenly like locked in $457 million. And then, and then, with GitHub term round and was like tornado cash bad. And they started going after the developers. They they they suspended the BitGitHub account and any contributors as well. So just be even though you contributed code, right? You know, to a tornado cash, you're a bad guy now. And then suddenly everyone else starts shitting themselves. And it's like, you know what it's like? It's like that. What film is it? Is it the goonies where everyone starts throwing up? One person throws up and then everyone starts throwing up. It's like that. It's like one, and then suddenly there's like, oh, it's like the mouse trap thing. All the mouse traps in a room. And everyone shits themselves. And before you know, there's shill over the wall. And there's people, there's people slinging shit on any Ethereum addresses. I can say that now because I've already I've already broken the rule once. So there's, you know, there's the dusting in the dresses. I heard the Brian Armstrong and loads of people got dusted. I think even it was 0.1 Ethereum. So it wasn't even something that was insignificant. But how many hops? How many times does, you know, if you, if you, if that, the USDC changed hands before change address from the original tornado cash label address on ethoscan. How many times do they have to transfer? Until it's clean again, right? Like it is that, you know, there is there a time period? What's the rule for that? The dusting I think is a really pinnacle sort of a moment in in proving that a push system isn't, you know, you can't accept incoming funds. If I know your address, or even if I don't know your address, I can just pick it, wrap picking an address randomly. And, you know, and I can push funds there and get that, that account completely frozen and sanctioned or whatever. That really opened up a, you know, Pandora's box of, what is a bad address? How does a bad address work? What are the rules around a bad address? How many hops does it take for the money to move from a bad address before it's, you know, before it's considered clean? I don't know. It's pretty, it's pretty crazy. The fact is that the mixing services, obviously, you know, tornado cash is like a similar version to, to, to, to, to samurai, in that you're, you're bundling transactions together and you're getting funds out the other side. And, um, whether you see that as bad or not, privacy is, is something that people desire. Like otherwise you'd have your doors open all the time. You'd have your, you know, people would have, but, uh, Facebook, for example, take Facebook, you'd have your profile open to public. There wouldn't be a rule. Be like the government says you have to have your entire, you have to show your fucking breakfast videos to, to people at everyone on the internet. You can't say it's only friends and pick a specific group. You've got to show what you had to breakfast for breakfast, to everyone on the internet. People desire privacy and they need privacy. Government desire and need privacy. Otherwise, they wouldn't be going after WikiLeaks. Because, uh, if things weren't, didn't need to be private, they wouldn't be trying to, trying to grab us a Julian Assange right now and have spent so many time like, there's a reason why information needs to be private. Money spending needs, needs to be private. So, I think it's just, I think it's crazy altogether that you can, um, you can sanction an open source piece of software and go after the developers. Um, you know, the fact is that it's like saying, it's like, if you think about it, like this, it's like saying you invent something like a technology and then from there on, you prosecute anyone who used that technology who used it for bad, even though you didn't intend when you designed and developed and did that technology for it to be used for nefarious uses. But you're going to be blamed for everything there on in the history of it, um, for being used, you know. Yeah, we should arrest anyone, uh, the, the inventors of the beeper. We should arrest, uh, the inventor of, uh, SMS. Yeah. Because, uh, that's constantly used to, uh, and, and, hey, what's app? Yeah. Well, email anything. Welcome to prison. You email, yeah. Actually, I just wanted to quickly bring up the whole USDC thing which I find really fascinating because for some reason, and I still don't understand why, um, die, who's, who's, uh, who's basically our competitor at the standard diet, um, die decided to allow people to lock up USDC into their vaults. And so if you did have tornado cash USDC, uh, you could quickly put it into the vault, create die. And now it's, now it's the entire protocol's problem because if those funds get frozen inside the vault, um, they can't even be liquidated. So all of a sudden, you could have been trouble where the, uh, where the entire maker protocol becomes under collateralized because the underlying assets. Now, what other reason is there, because the only reason to lock up assets and borrow against them is to go basically long in the asset that you're borrowing and go short in the asset that you're minting. So if you're putting US dollars in and taking US dollars out in the name dire, you have no real need for that. There's no real need apart from basically wrapping USDC in dire. And now you've passed all problems onto the entire program protocol and socialize the issue into the protocols basically could take down the whole protocol. So, I think, and then they suggest three and a half, a three and a half billion dollar USDC buy back every theory and even Vitalik was like, that's crazy. Yeah, I mean, you could tell me that number into like, uh, you know, one inch or something and you see that, uh, basically a theorem loses 98% of its value in a market. So it seems very shocking that they would allow such an asset into their system, Josh, like you say, because of the risks where they couldn't sell the asset when it's time to liquidate. Unfortunately, cynically, I could only say they probably did it to get the volume. If a lot of people wanted to perhaps clean their money this way, they would put it into that system. But like you're saying, it's a potential for poison pill. If people are trying to clean their money, they're passing it on to the rest of your network. Yeah, but what's happening here, right? Is that these sorts of events, like I said, create an anti-fragile response. What does anti-fragile mean? It means that the system repairs itself and doesn't make the same mistake. So what will happen is that you'll get decentralized monetary systems that won't allow for centralized money system, that people will start to look at USDC in a suspicious way and think, I can't trust this whole heartedly. Because if it has gone two transactions ago, I don't know, what's the magic number? Like Dan said, what's the magic number? How long ago? How many hops? How many hops do I have to trust? Now, do I have to be Mr. policeman, Sherlock Holmes, to then look on the blockchain to see where it was, what it was useful, what it might have been useful. Guess it basically throws harm into the entire mechanism. So what will happen is more and more people will use decentralized stablecoins, like the standard IO or the ormaker and become a lot more independent of these centralized stablecoins, which are obviously trusted in one way after the lunar debacle. But now, I've shown their true colors in the fact that, hey, at the whim of any sort of government bullshit where they just go, it says tornado cash next door, because some publicly tagged address is says. So, you know, blacklisted, this is just, this is a massive nail in the coffin. And I actually don't see how circle are going to come back from this in a big way. And they were really making inroads into the crypto space. The USDC was starting to take it from tether in terms of volume. And this is, this is a massive knockback for them. Well, I also want to agree with what Dan said earlier, they're going to have continuing problems with Bitcoin and the system because they don't control the server. At the end of the day, if they want to say, I want to block this transaction, I want to block this kind of transactions. I don't want people to be able to own their own keys. I don't want you to have these, what do they call them? Non custodial accounts, basically normal Bitcoin addresses that aren't controlled by coin base or cracking or an exchange, things where you actually have your own money. They can say they don't want this all the time, but they don't control the server. They don't control the rules of the server. And they're going to continuously run into this wall and be upset about it. But that's part of why Bitcoin was set up. That's part of why all this work was done. Yeah. And I also, go, Josh. Sorry, I just want to say, like I've given talks for years about this exact event that centralized stablecoins, all that needs to happen is that maybe there's a large drug bust online and turns out that people were using Teather or USDC and they end up then the government goes, right, shut it down, shut it down, put on the sanctions list. And then they either comply or the US government shuts down the bank accounts of whatever USDC's got in its banks, which is a vast amount of treasury. So really, this is exactly what I've been talking about for years. The only answer is a truly over collateralized with rare assets, stablecoin. And this is why I'm building it. And I also want to stand up for beepers. It was doctors and drug dealers. So doctors and drug dealers has a good and a bad to the invention, kind of a yin and a yang. And if you're watching at home right now, we have about 36 live viewers and we have 18 likes. So that means half of you haven't pushed the like button. So go ahead and reach down there, change your app, push the button. We won't say anything. Maybe the other half. They can also push the dislike button. It's also good for responses on the server. And they don't even show the number of dislikes anymore because that's how much they dislike you disliking people. They like it when you like things. So we're going to move on to issue four issue four tips for surviving the Bitcoin bear market. Great new article from Bitcoin magazine attempting to help people understand that bear markets are difficult as you watch your account balances diminish with the Bitcoin price dropping. But there are many things you can do to ease the pain. This is a great time to have this article as the bear market just might be over. Who knows? A Bitcoin magazine suggests talking out the bear market with friends, reevaluating your goals, learning from the greats, keeping track of your mistakes, building something, anything, and getting outside. I like that last one. Getting outside. Josh, I got you seem ready. What do you think about tips for surviving the bear market? And what do you think people should do? Yeah, definitely. Just remove the price widgets on your phone. Get it off your eye watch. Stop it buzzing. Have a strategy. Say, look, my strategy is this. And don't stress. Don't stress. Be clever about it too. If you know you've got bills coming up and stuff and we're heading downwards, then don't have everything sitting in a volatile asset. Maybe if you want it to protect yourself from inflation, sit it in gold in terms of allocated goals, you don't have to lose too much on spreads. By the way, we do that at Valtoro.com. That's the exchange we launched in 2015. And it's still going strong. It's one of the oldest exchanges, I think. And so you can trade into allocated, insured, and audited bullion, and then trade back out when Bitcoin's going back up. But yeah, I think the biggest thing is really get away from having reminders of the price. And also start buying in at these low prices. If you have a wage, if you're earning, use this time. It's really interesting when you look at Bitcoin or an investment like Bitcoin compared to, let's say, genes on sale. Most people freak out when Bitcoin goes down, but they're really happy when their favorite genes are on sale or their favorite shoes. It's just the same thing. If your shoes are on sale, you go and buy the shoes, right? If Bitcoin's on sale, you're buying some Bitcoin. I definitely agree with Josh. You've got to turn off those apps. Sometimes you even just delete them. I don't even want to look at my portfolio or think about what happened to it. And while this isn't financial advice and everyone needs to make their own decisions, if you do have a strategy, if you've been dollar cost averaging, if you believe Bitcoin will be worth a certain amount because of how great it is. If you just believe in Bitcoin long term, whatever your strategy is, stick with it, right? You didn't get through this way by having the general strategy where you sell, when the newspaper tells you to sell, and you buy, when the newspaper tells you to buy, you're a rebel, right? You're out there trying to win big. And if you're trying to win big, you have to be willing to lose big. So if you're a young guy or a young gal, and you have a lot of time, you should be in a speculative investment. You should be taking some risks with your life because they might pay off. You also might lose it all. So not financial advice, but you're young. You've got a chance to make up for your mistakes. I'm sure you'll do better next time. Dan, what can people do to survive the bear market? Well, I think if I was to get other lists, like the talking out, that could be problematic because you end up shilling it to people that buy. And if you're still not through to the bottom of the bear market, it goes down a bit. And then you got to have those difficult conversations because it goes down faster than it would normally do in a ball market. So don't just don't talk about it. I think I agree with yourself and Josh, and just delete the apps. Don't look at the price. Think about the technology. Think about if the internet was a thing that people bought into other than stocks and shares and the 2000 price boom of pets.com and whatever. People have been losing their mind about internet adoption, daily going up and down and opening up a globe. They had been going crazy. But if you think about the adoption as a technology and take it away from the general price, I think that really helps out. Don't price things in the price. Price it in the network effect. Is it McAfee's not no, it's not McAfee's law. I say that now because of McAfee. But it was a mechaf's law. McAfee's the inverse proportion of a network as a ding on the cygrist thing of the inverse proportion and something. Basically, the thing is that the more people are using a network, the more value it is. That's what Bitcoin is. Think about how many people are using it last year. It's almost like what you should be looking at is the adoption rates of Bitcoin. How many services are using it? How many transactions and the real and e-gritty of the actual network rather than just the baseline price. I think that really has a difference in your worldview. Re-evaluate your goals. If your goal was originally just to get rich off Bitcoin just by buying it and holding it and very briefly become rich, that's a terrible goal. I do agree with that one. Learn from the great Charlie Munger and they broke Charlie Munger and Warren Buffett, who still seems to have really hate Bitcoin. That's the terrible one. Ultimately, unfortunately, Bitcoin is as much as anyone who's to admit this. Bitcoin is full of absolute utter, terrible charlatans who are price-predicting gurus who will just say it's going up and you just meant to follow them because every time you see them, they're going the price is going up. You should be more on a download like me and Ben, who are saying it's down, down. These traders, they often don't publish their actual holdings and what they're actually trading, what they do. It's a non-transparent system where you just, like astrology, you forget the misses and you remember the hits. If they say 50 things, you remember the things that actually transpired to be true. It's exactly the same thing and someone proved me wrong. But when you're a psychic doing a thing and they say 20 things, I'm hearing a B, I'm hearing an L, maybe they worked in the sewing industry and someone says, oh yeah, I had a runk called up as a minor. Then they're like, oh, and then they pick on that and they say loads of things. It's like that and you only remember the things that they got right. So I don't really believe the great traders sort of thing. I think with Charlie Munger, if I'm honest, with Charlie Munger and Warren Buffett, there's a stagey reach where you're rich enough that you know inside information. I'm not, I'm simulating that they had do inside a trading, but there's a point where we're rubbing shoulders at the CEO of someone because you're rich enough that you're like going, oh, what's on your plate this year? And you go, oh, that sounds like interesting news. Bye, bye, bye, bye, bye. I think that, you know, I'd also say that Munger and Buffett can afford to take great risks. Once you have hundreds of millions of dollars, you can invest one or two here or there, easily make three or four and and crush any little, you know, $200 struggling investor. Like you just don't have the capital. You can lose a lot too. Yeah. No, I knew quite wealthy people that basically blew everything and hardly anything of what they were before. So, you know, this is what greed does. It actually is a great distribution mechanism. Well, and that's a good point. So, don't ever put in more than you can afford to lose because that's when it's a much harder to let go of say blockfolio and keeping track of whatever the Bitcoin track of price. Because if you know that you're in tight 95% of your entire worth is in a particular, you know, a particular asset, whether it's property, whether it's what are properties of slightly less volatile, but what kind of not at the moment. But Bitcoin, you know, and you're seeing it going 10% up 5% down 6% up. That becomes much more of a difficult thing to manage on a daily basis. So, if you know that what you're putting in is you can afford to lose and it's almost like putting in putting in a dare I say, but putting money in a slot machine and being like, this is the fun. This is paid for my fun, right? And if I need the money back out before it comes back up again, then I've made a loss otherwise I've made a win. But I do believe the main two ones is build something and go outside. Bitcoin is all about building. The whole point of Bitcoin is building infrastructure. The thing that gets Bitcoin's value is the network infrastructure is the network growing. So people building code, you know, look at all the crazy stuff that's going on with with elements right now, the demo we had last week. And the on chain integration as well into elements. Now there's something like that will always make the value of ultimately will make the value of Bitcoin higher because you're making it more accessible for people. So, and you're building it. So yeah, I think and go outside, it's always good to be outside and not thinking about assets swinging left, right? Up and down. Well, and I even go further to combine those two into one category. You should build on yourself. You should go learn IKIDO. You should do some exercises. Do some running. Eat better. All of these things you should improve your skills, right? The things that you carry with you at all times. You should improve your ability to research. There's a lot of things you could work on. And finally, you shouldn't judge yourself by your net worth. You shouldn't be like, I was worth $10,000. I'm a good person. I'm worth $2,000. I'm a piece of shit. Like, define yourself by what you can do, what you do every day by the good actions that you take. Don't let your dollar or Bitcoin account define yourself as difficult as that can be in our celebrity and wealth obsessed culture. Any more on this issue, guys? No. No. And then of course, we all say if you're not feeling well, and we shouldn't be flipping, but if you're not feeling well, there are many phone calls that you can make to hotlines who can help you. If you've lost a lot of money, you can talk to someone even if you don't want to talk to your family and friends. You can call one of these suicide hotlines or even a church hotline or community group or some kind of local group. There's someone you can talk to out there who can emphasize with you and understand what you're going through and help make it a little bit better. We're going to move on to the prediction or story of the week. Josh Legala, do you have a prediction or a story of the week? Go ahead. I don't think this week. No, I mean, we're just moving along really fast now. Things are moving really fast to the standard. And it's really exciting. We're getting to that point. You know, we've been working for a year on this and took a while to find the right team, the right development team, the right structure, legals, everything, really to set it up right. It's just exciting to see it getting close to launch. So get over there to the standard to IO and sign up to the allow list and get ready. It'll be really fun. Enjoy the discussion. Get yourself a power ring. Need a ring of power. Yeah, get yourself a power ring. We've got some more left over here. If you go up the chat here, we for the first time, like I've not been a big NFT guy, but we have these community meetings on Twitter spaces and we're like, hey, let's just do this. So we created these power rings as NFTs to air drop them onto people that listened in. And we created like 121 of them, gave away 41. So there's still a bunch there. So yeah, if you just scroll up a bit in the chat there, you'll see or go to my Twitter and you just quote, retweet with proof of attendance and put your polygon address. Now I'll drop you one of those those NFTs. They're really cool. It just shows things don't have to be valuable. People want to be part of a community. They want to be members. They want to be supporters and that itself has its own special kind of value that you can't trade for money. Yeah, it's really it's really amazing. You know, I created these things and and and then I was like, man, like I want this one. Like I started like wanting this thing. I'm like, I've got it. I mean, I created it. Here it is, the JPEG. But it was really interesting once you can trade it. But yeah, like in terms of what it can do as well, like later on, you can start collecting. I just find it fascinating. The whole NFT space where I really find NFTs fascinating, though, being more on the finance side is, you know, being able to once you lock up smart vaults, there's something we're looking at the standard is is if you can't pay back the debt that you took out on yourself, you can actually sell that debt as a CDP collateralized debt position as an NFT to someone else. So stuff like that. And I think, you know, in 2008, if the whole bank, if the whole housing market was filled on top of NFTs where they'd even split and cut up NFTs to, you know, that had in different properties and financial instruments locked up, you could at least follow what what's in them on the blockchain and sort of, you know, it's it'd be a lot more transparent. So I find I find NFTs really fascinating non-fungible tokens always have ever since colored coins for anyone that's listening from back in the day on Bitcoin. And nowadays, so it's a lot of it's happening on Ethereum, but it's also happening on Bitcoin as well on some of the side chains. But I really really find it interesting that I was looking on Twitter spaces as well as some of the NFT communities and how, you know, these normal people that have nothing to do with finance or cryptography or, you know, cryptoanarchy or libertarianism, they're just these normal people living their normal lives with that are that are into art. And and and into collecting stuff and wanting to create things. And then they've taken the time to learn how to install Metamask and start to upload things. And and it's really nice to see see this community that's outside of the scope of everything we've had for a long time. And it's much larger. It's vastly much larger than our little niche that we've had for so long. So it's yeah, it's it's really nice. It's it's really nice to see that side of it. Yeah. It is neat to see how your wallet becomes like we used to say your binder. And you would show people you'd be like, look, I got this one. I got this one. This one is mine. And it's all about that ownership idea. It's not so much about the great value. Although it's nice to have great value as well. Dan, Eve, do you have a prediction or a story of the week? Go ahead. My prediction isn't a prediction is such but it's a it's a want like and I want and I want the US Treasury, for example, to realize that that and other other kind of organization around the world that you've got to be a bit more careful when you're just like slapping a sanction order on random addresses that you've got from a hashtag list on ethoscan. And and you know with the dusting, I think that that kind of really maybe think, hey, you know, this is this is it reminded me this is a push system you kind of you know, you can't even with an air drop right and I think from a tax perspective, there was a lot of who are I think it was in the in the UK specifically that if you receive an asset via an air drop, you've got to pay taxes on it. I think it might have been in the US as well, but you didn't choose to receive that air drop right like you didn't choose to receive that money there. And so putting all these rules in that kind of exist around the existing infrastructure and using them to govern this new technology that's built in a completely different way, it doesn't work the same. So my prediction is more of a hope that that there's a review of the way people are considered as nefarious or addresses are considered as nefarious by various government organizations and that there's a bit more thought that goes into it and actually prove behind it rather than just slapping everyone with a with a sanctioned brush and just thinking that that's going to fix everything. And maybe the dusting thing actually has a positive net effect, which is that it shows that you can't choose to have money sent to you and therefore the impacts of having money sent to you by an apparently nefarious actor shouldn't literally cripple your finances and have you slowly excluded from all sorts of other financial services and exchanges just because you received money from something that you couldn't reject because let's face it, that's kind of called victim shaving, right? If you have something that's pushed onto you that you didn't want, you know, you're the victim, not the not the aggressor in that situation. Well, you can hope in one hand and you can crap in the other and see which fills up first. I even thought of a more horrible idea here, thinking about NFTs and thinking about dusting accounts with NFTs. I don't want anyone to do this. I do not suggest this. I do respect the Islamic religion, but if you made, you know, for theory for, you know, hypothetically, if you made a Mohammed NFT and if you dusted every single account that owns NFTs or every single account that owes crypto punks with this NFT, they'd have to have a fought law against the Ethereum blockchain. They'd have to be very upset and it would, you know, the idea would drive them mad because it would be an image of Mohammed on the blockchain, which is against their religion and so forth. And there's many other horrible images and ideas that I'm sure could be adapted to this idea and spread through the dusting, like Dan said, because like Josh, with this push technology, the banks, the businesses, the government doesn't control what goes into your account. As soon as we find out that it's Matt Damon's NFT account, we can send him horrible NFTs. We can, you know, send him money that's dirty and make it look like his account is used for drug dealing or far worse because it's a push account. It's not like the credit card system where you get a magic number and it can pull as much money as you want out of the account. So this, even just switching to push technology as with Bitcoin, you know, we've had a public address for years. We always used to get strange little dust and wonder what it was about and it gets much worse when the government's evolved in that dust. I just want to thank everybody for pushing the like button. That's a really big deal to YouTube. It doesn't matter that much to you or me. We know it's absurd. But if we could get a couple more people to watch this show, could you push the like button? That'd be great. Push subscribe down below. Check out the worldcrypto network.com. Check out the podcast. Let us know if you're listening to the audio podcast and send us a comment. What do you think about the show? What do you think about the topics? Add your opinion below and until next time. Bye. Bye. Bye.