The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest sitosies, the best Bitcoin's, the hardest crypto currency talk. We'd like to welcome our panelists, Dan Eave, the crypto raptor. Happy Friday, peeps. Josh Shagalla from the standard.io. A couple of morning to you, lad. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one, issue one, Warren Buffett revealed to be quietly making bank from Bitcoin and crypto amid price swings. Yes, Warren Buffett, the famed billionaire investor, has been one of the loudest Bitcoin and crypto critics amidst a US war on Bitcoin. Now as a crisis is varying to engulf the US dollar, a new analysis of Berkshire Hathaway shows that the Oracle of Omaha's best performing investment this year is Bitcoin and crypto-friendly new bank. Dan Eave, what do you think about Warren Buffett, surprisingly profiting from Bitcoin? He's doing the classic dissit, but only. Or at least not only by proxy, right? Because he doesn't actually, in theory, we don't know if he owns Bitcoin, but by owning a bank that's very much involved in Bitcoin, then he's making some profit on the Bitcoin swings. And maybe I think he still is very much against it. So is Charlie Munger, right? He's his partner in trading crime, but I still don't think this is going to turn it around for him. He may make a lot of money off new bank, especially when the harvining comes around, but he's still not going to swing around. He seems kind of stubborn about it, right? To call it rat poison squared, you're pretty adamant that you're going to be dissing it for a long while, but he's doing the classic, you know, Jamie Diamond, all the big names dissing it and then finally coming round to it. Maybe if the ETFs go ahead, the spot ETF wants to go ahead, you know, he might be less vocal about how much he hates it, but I can't see him buying it anytime soon. He seems like a stubborn guy, right? And he doesn't really like, he's kind of been vocal about in the past about tech stocks as well. So I don't see him turning round completely, but maybe he'll just continue to invest in it by proxy, by investing in companies that are into Bitcoin in some particular way. Josh Agala, this must be very painful for Mr Buffett, his only good investment this year is a Bitcoin company. Yeah, I mean, I think this is one of these things where I don't feel that I have no proof at all, this is just me being absolutely ludicrous. Nothing can't hear me. We can hear you now, but it sounds like a different microphone. Try it again. Go ahead. Oh, really? Oh, now sounds good. Sounds good. Go ahead. Yeah. All right. So, yeah, so the thing is that people like Peter Schiff, I think actually used their cloud to destroy Bitcoin and then buy it on the down. So basically, it's publicly denounced it by it either him or his son. It's, you know, if you have massive cloud and it's an unregulated market that you can do stuff with, why wouldn't you, if you don't have a soul, do that? You know, you just, for your own gain, because you have that cloud, like there's two things that can move the market, large amounts of crypto, like whales or whales in terms of influence. And so yeah, Schiff used that. Now I think you're right, Dan, that Buffett isn't in that camp. I think he literally just doesn't understand it. What he does understand is balance sheets and profit margins and books. And so he'll look at the books of a business and go from that, I think that could do something. He's got to understand, yeah, he might not think that crypto has value, but obviously he can see that people do believe it does. So I remember pitching to some BC, some VCs about a Bol Toro, a bit kind of physical gold exchange saying, look, you might not think the banks are going down, but there's many, many people that do and want a solution for that. To which I had a couple of people say, well, I actually do think the banks are going to go down. So yeah, but yeah, I think Munga is Munga and the rest of them, they're just too old to understand it. I'm too old to understand even bloody spy skills. I'm just the new pop sensation. I'm too old to understand bloody TikTok. How's that folks? I mean, it's just, yeah, so there you go. Maybe he's also the opinion that he's like, I don't want to own Bitcoin, but I want to make money off of the mugs that are trading it. I'm new enough to own it, but I'll make money off the people trading it via fees. That's why the fees and, you know, by owning a bank, shares in the bank. Yeah. Yeah. Yeah. Exactly. I think there's a couple of possibilities. One thing it could be just like a person that wants to invest in a environmentally friendly stocks, but you have so many stocks you can't keep track of them. So you accidentally buy some coal. So he might not even know about this. And then there's a possibility that he does know about it. And he knows he's breaking his principles because he hates Bitcoin and he's such a big critic. But someone told him this company was going to be really good. And he's got that greed aspect where he wants to make 30% instead of 20% and if he has to buy a Bitcoin bank to do it, he's going to get his 30%. Right. Yeah. Yeah. Yeah. Yeah. But it's a nice, it's a nice sign to see that this company did well because it's not always, you can buy Bitcoin companies that even in bull markets fail. And I guess we saw that with FTX, but that was on the scam level. There are legitimate business that just don't have a product market fit. And so yeah. Well, it's a nice introduction for Mr. Buffett into the market. Like he had a nice experience. He invests in this company. He made money, more money than he made on any other investment that year, which some people would say, maybe I should circle back. Look at this Bitcoin thing. Maybe I made a mistake there. But maybe not Mr. Buffett. He is very, very old, much like Mr. Trump who famously doesn't use email. It's from another generation. Doesn't you and your kids and your computers, your computer money? What is it? Why should he care? Why should he care? Go down. Sorry. Sorry. I just bled out of old man yelling, what is this book? God damn you, little bit. And truly, like he should be retired somewhere. He should not have to care. Especially when he knows that the true and most honest predictor of all of Bitcoin truth is right here in my hand. How upset must world be when he cannot hold such a thing in his possession and know the answer? How for the exit question, Dan Eve, will the price of Bitcoin be higher or lower, keeping in mind that you're you're competing against this orb of truth, this everlasting, this bald source of predictive power, it knows all about the triangles and the ballinger bands and the ballinger balls. It knows everything. It's all of it. It's like, oh, sorry. I bled in my, okay, belly. Predict, Dan, higher or lower? Yeah. Everything's being too negative recently. We're going up. Up, Josh, Shagalla, higher or lower? Higher. And now we'll ask the magical Bitcoin predictor ball can be hard to see, well, to my little letter of light here. Will the price of Bitcoin be higher this time next week? It says cannot reply now. Whoa. Let me know through this time as well. Fintech's era cannot predict now. Yes, that's unfortunate. I was on the eight ball. After such, such big ups, such big ups, so much time, we need to come home to the correct eight ball. That was your blue screen bill gates demoing Windows moment. That was it, man. You can't, they argue with a ball of truth and it's just going to tell you what you want to hear. So that's it. Cannot predict now. We're moving on to issue two Sam Bankman free trial week two. We've learned this week that Caroline Ellison testified that tie prostitutes were involved in an attempt to regain access to $1 billion of Alameda funds that were frozen by the Chinese government. What? We also learned that what's her name, Carolyn and Sam illegally kept the price of Bitcoin below $20,000. I'm not sure it was illegal, but they definitely did it. What? And Sam Bankman freed, they played a stunning audio recording at the trial where Carolyn Ellison told her company how they had lost billions of dollars and that it was someone else's money. Josh Chagalla, what do you think about week two of the very exciting Sam Bankman freed trial? Yeah, it's fascinating. One thing that I find really annoying, it's why do they keep just referring to her as Sam's girlfriend? She is just as culpable as Sam as far as I can see allegedly. I better put that in there. But it's one of these things where I think they're really setting this Sam guy up massively by directing every bit of blame at him, which he should. I'm not saying he shouldn't, but come on. What about putting some of these VCs also in front of the stand to blame? Because they're the ones that are meant to do the due diligence. They're the ones that are meant to sit there and go through his books and see if it's a scammer. Because apparently all of these naive retail books got burned. And last week we talked about this, like we don't know any, which is also strange. If you've been burnt retail by FTX, please leave a comment in the under the YouTube video because I would be interested. I know that they're out there for sure, but I'm just wondering how many compared to like was this all huge massive whale? Like, you know, what's his name? Some of the celebrities and all this VC capital. Was it those guys that got mainly burnt or was it retail? Or was it mixed up both? But anyway, the other thing that's really strange and I don't want to spout conspiracy theories here, but every time there's an assassination, they always stick the middle name in there. And I don't know if Bankman is actually a middle name or if it's a two name last name. It's a hyphenate with his mother being Barbara Fried and his father, something Bankman. Oh, no. Oh, I see. I see. I see. So yeah, because so there's always like every, every person that assassinate someone, they put their middle name in there not to confuse him with someone else that might have those two names. It would be a disaster if John Smith assassinated someone and every John Smith in the country was like, I didn't do it. Leave me alone. Yeah. Yeah. But then we have like the social media of PewDiePie just putting out that every Karen is a Karen so poor Karen's. All over the place there at the end, Josh, but I do agree with you. There's no grownups around. I read recently, people are looking at the Michael Lewis book and they're talking about how, oh, there were no grownups. There were just these kids that are like 25 to 30 years old. That's grown up. They can drink. They can smoke in the army. They went to college. They learned all this stuff. They're polycool, like Dan said, they're in complicated relationship structures that I think few of us have ever attempted or even considered. So yeah, they were grownups. That's the thing that I'm tired of is this idea that they're not grownups. And also I've enjoyed all the reviews of Michael Lewis's book. He famously wrote Money Ball, The Big Short, Many Other Finance Books, but he seems like he's come down wrong on Sam. He had a book where he had a genius on his hand. And then at the end, the genius turned out to be a fraudster and it doesn't seem like he rewrote the book to remove the frauds. And the book also doesn't focus on any of these retail investors or this great loss which must have been felt by somebody. I think maybe retail investors in other countries perhaps being the reason we don't know them or people that were drawn in by the advertising who had never bought crypto before. Although again, the hilarity is that the Larry David advertisement says not to buy Larry says that's so good. So Larry just locked up on that one. He's really dodged and full. Dan, even what do you think about an SPF, the trial, the audio tape of Carolyn Ellison and as well as all the other stuff? Well, it's re-blowing out the water that he was this kind of innocent guy that tried to do good and just slightly messed up. There's a lot of huge kind of big news breaking items right from trying to scam the Saudis to keep the price of Bitcoin down to try to bribe that, I think successively, sound like they successfully bribe Chinese sort of officials of $100 million to release a billion. There's one more thing in there, Dan. They had often talked about how Sam had this Honda Civic and as like you could trust him because he drives a normal car. In one of the articles I read it said that previously they had normal company cars like nice cars leased from fancy company and then Sam had the idea that they should drive lesser cars and downgraded himself and Carolyn to a Honda Civic and a Ford Tempo or whatever it was, two normal cars. Even that was fake, even that was, was artifice, it was acting, it was putting on a front and he fooled lots of people. Sorry to interrupt you, go ahead Dan. No, no, it's a good point. The whole thing was just a facade that you put on, right? It's almost like this effective altruism was literally all orchestrated just to be able to pull off the most elaborate scam in history and to scam so many different people from officials to the Saudis, to the Chinese government. Also the fact that he tried to get the regulators right to continuously try to put the regulators on Binance specifically really sort of under hands. So he's playing that game where he's paying off all these senators and the government, both Democrat and Republican and he's using them to try and get them to put pressure on the SEC to investigate Binance when he was the one doing all the most shady stuff. So Binance is obviously not the most clean in as we're seeing recently but compared to SPF they have kind of no real news like this, nothing that's broken, there's anything as bad as the individual things on this level. The Thai hookers, I mean that's just crazy. So yeah, I genuinely can't wait for the documentary, it's going to be amazing. Well and we have to assume that Binance at least at its basic level is set up properly, right? We don't think that Binance is taking customer money and using it to pay Tom Brady for advertisements. And yet, after knowing that Michael Lewis continued with his book and defended him on 60 minutes, after knowing that like from the beginning they'd been mixing customer funds. Go Josh. Yeah, I mean this is how powerful cognitive dissonance is and it really plays out here and what that is for those that don't know is when you, it's a psychological phenomena where if you invest a lot of time into a concept and then get new information, some people, most people find it very, very hard to pivot on a dime or pivot even on a large circle in terms of their opinion of that thing that they've invested a lot of time into. And so especially if they've gone around talking to people about it already because they don't want to look stupid. And you know that the Nigerian scam famously takes advantage of this because people invest to small amount of money into it, then the bigger amount and bigger amount. And if you've ever talked to anybody that's fallen trapped to one of these sort of scams, they'll blatantly tell you in the face, it's not a scam and then and they'll argue to their face goes red or green or blue or whatever. And then they'll stop talking about it, but they'll keep investing because they're now starting to get embarrassed about how much money they're putting in, but they believe they're going to get the billions of dollars that the Prince left. So this is the same for the author that he invested a lot of time with Bank, Bankman fraud and and he basically then didn't want to change his opinion because now he looks stupid. And so this phenomenon is extraordinarily powerful. Yeah. Yeah, the thing is it's so hard to admit when you're when you've been been scammed, right? It's like the slightly thing of admitting when you've got a problem like the first step of overcoming a problem is admitting you have one and people just get they find it impossible to go back after, especially after big and something up so much and as you know, they're shilling into their friends and they've probably got a lot behind it and they're just wishing in their hearts that it turns out not to be true, but it's actually true. Yeah, like the vaccine, just total scam. I'm surprised that this is what Michael Lewis wanted that he wanted to write a book about a genius who is actually a genius. If you look back at Walter Isaacson's biographies of Steve Jobs and Elon Musk, both of them, it not intentionally, but as the books turned out, he kind of punctures the genius mold. He says, yes, they're a genius at this, but they're bad at this, but they screwed up this and all of those things in the same way. Sam Bankman freed, wouldn't you think Michael Lewis would be like wanting this to come out, wanting him to have flaws that make him a genius, but a tortured genius. What do you guys think? Dan? Yeah. Have you both, I assume so, and you've read his book right here, or you read the book. I started the first couple chapter that was a lot going on. Okay, so it's stacking up. It doesn't contain evidence in his is favors. Right. Yeah, it doesn't contain any of these revelations, right? These are, I'm assuming these will kept under wraps because we would have heard about them by now. But yeah, it really does show that all that, that image that he was this really nice guy who just wanted to do good is just all complete crap. He's, I'd be interested to see how he's dragging, if he ends up dragging other people down, right? Because, you know, as Josh is saying, you know, Caroline, she was, she was this co-CEO of Alameda. She knew about all these things. She's culpable. Yes, she's admitted to, you know, to the fraud. And she's, she's becoming an informed informant, but you know, she's done the prisoners dynamic right? She buckled and, and, and, and snitched him in just like the others have. But are they going to be punished as well? Are they going to get away with it from, from providing evidence? So what sort of, I wonder what sort of deal they have? It's probably a pretty rich deal, but I do think they're going to try to make it look like Sam was the only one. Although they all did wrong. They all knew what was going on. I think that goes well into the exit question, exit question. Will Sam Bankman-Fried get life in prison, life in prison, Dan Eve? Yes or no? Oh, it's looking, it's looking quite, it's looking quite likely, I think now, isn't it? Or at least at least I, I, my guess was two, two X, what, what, the, the lady from, what's it called? Theranos. Theranos, Theranos. So she got, I think, nine years, right? So I reckon he's going to get at least 18 years. So maybe, maybe not life, but yes, it's kind of, kind of, kind of, some numbers go up from last week. Josh Jagalla, number go up. Oh, yeah, I think Propagol in the chat here is, is right, I reckon 20 years after everything. Yeah, I mean, that, that, that pretty much is your life over, isn't it? 20 years in prison. It's, yeah, I can't, I remember being a kid seeing these numbers come up and thinking, wow, these are such long times people need to spend an occasion, like 20 years, you know, and when you think about the fraud, you think, oh, that's not very long, but why? It's, it's pretty much a whole whole life because once you come out after 20 years, what are you going to do? You know, you just totally, the whole world's changed. Oh, he's got, he'll have like, he'll have secret wallets though. You know, he's got Bitcoin stashed and, and shit coin stashed everywhere that you, you wouldn't run a company like that without having a lot of secret pockets, magic pockets. Yeah, over 20 years, can you remember back together? What about the polycool? Yeah, we still don't know. No, I, I think it would be, it's a romantic idea that people are now floating that Sam could get life in prison because the evidence is so damning because they have the audio tape because as Dan said, his number two guy who went to like, I don't know, scout camp or boy camp or something with him, his, been his best friend his whole life, even recognized his teddy bear man friend when they found him in the boxes when I don't know they're having some kind of a citizen cane type moment. He ratted on him. He turned evidence. His girlfriend from the polycool, she turned evidence. They've got tapes. They've got everything. But no, it's still, it's not like he murdered someone. He just murdered the financial future of all these customers and all of their, you know, work that they did. It's not as bad as murdering a person. So no, I don't, I still, maybe the same, let's put them up to equal to Theranos. He'll get 12 years and serve like three. And remember, she managed to get pregnant, get married, have two kids, all kinds of stuff while she was getting ready to serve her time. And now is even arguing that she shouldn't have to serve time because she got pregnant. She got kids. So my favorite part is Sam and Caroline. Go ahead, Dan. Sorry, it's just that how the court artist made Caroline like sloth from the goonies, like in every picture. Is there any hope for these kids? It's like Sam and Diane, do you think they could get back together? Oh, she's got a new boyfriend already. Oh, that's, that's sort of the press, right? I read, I saw that answer here today. She is, she's not going to be waiting for him. No, no, no, she's already got a new man. Well, they're in a, they're in a polygamous, polygamous relationship, which isn't a very watertight relationship structure. Is it? I mean, it's a, airtight, yeah. They always wear the way in the orgy's. They're like, I'm going to come visit you in prison. Like as soon as this orgy's over, like, we'll never forget this. Yeah. Yes. Oh, Jesus. The poor, the poor new husband's got to hear all this constantly about her. The poor guy is scummy. But it must be very stressy to be pregnant and think I'm going to prison and lose access to my child and stuff. It must be horrible. For the Theranos woman, I'm not sure. It's only a legend that she has feelings. So we hope you just like, like, yeah, that. So it could be a very cold blooded kind of like manipulative move to keep herself out of prison. Ha, ha, ha, ha, ha. I'm getting pregnant. Yeah. Oh, but if Sam gets pregnant, all bets are off, right? He should be able to take the time off, get into a special prison. They make a movie about him with Arnold Schwarzenegger. I mean, everything is possible if only men could get pregnant. Yeah. No, Colin Affin. By the way, in the chat there, Crawford said he lost a lot of money with BlockFi. You know, I'm really sorry to hear that. It's always horrible. Paul didn't tell you to invest in BlockFi or FTX, but now it's all. This is why we created the standard as well as that you can just lock it up into smart contracts instead of giving it to the third party. You know, that's, that's the key. But you know, Bitcoin Maxis in the chat will still keep calling people that develop on Ethereum scammers. I don't know. You know, either you can go with a centralized authority like BlockFi or you can lock it up in a smart contract that you hold the private keys to. I don't know. You know, it might not be perfectly decentralized, but it's better than BlockFi. But what about the isn't there like isn't the hot news now the BVM right there? Is it the BVM the Bitcoin? Yeah, bit VM right the whole. Cheering complete layer of Bitcoin right so that now now there's there's people going swinging back again right is it always swings one way the hate when it's on Ethereum, but then it's on Bitcoin and they're like see how Bitcoin can do it now. But obviously, you know, it happens. Not everyone's liking it right. Not everyone. It's just like Billy Joel said he said shades of gray wherever I go. The more I find out the less that I know black and white is how it should be, but shades of gray are the colors I see. We have to move on now to the next issue. Check out worldcryptonetwork.com where we've got nothing but shorts with Dan's face on it. That's right. Dan's face Dan's face Dan's face Dan's face and Dan's face. That's what we're selling you here. The worldcryptonetwork we've done an extensive testing with artificial intelligence and the artificial intelligence says use Dan's face. Oh, and look, he's got Barry on there as well. Oh, man, this is the third anniversary. And you're zooming into him as well. You're really crushing him with your fingers. Wow. Oh, come on. The thumbnail is channel at random or stuck with moving on to issue three SEC deadline on gray scales Bitcoin ETF dispute approaching at midnight. Oh, where's all my fun sounds? I'm big by the SEC will decide on the place scale ETF. Oh, that's that's just really too much over the top there, but it is almost Halloween. Let's go to Dan Eve. We talk about the ETF every week a place for people to put their stock market money into Bitcoin that they won't let us have. Now they say the deadline is midnight. As I've said before, everything exciting happens on Friday. Will gray scale be approved Dan or will they kick the can down the road again? So this is hang on a sec. This isn't the actual approval deadline by midnight right? This is just this is the appeal for it to be reevaluated. Is that right? Or is it the approval? It does look like if the SEC does nothing, gray scales application to convert its trust into an ETF for a return to life. So yeah, this won't be approval yet. Yeah, so so you know, obviously it's still in there. Whilst you've got all these other black rock, you know, being at the hands of the SEC now as well, they're probably putting a lot of pressure on. You've got who else was there? Mother's low isn't there? Valkyrie have put their sport ETF in. There's 15 and a half trillion or whatever it was. It hasn't grown much because because of the, obviously, there hasn't been many new ones out. It's coming soon, right? It's coming soon. Whether it's going to be a good thing or not, whether we sort of see a mini pump just before we get the decision, some people get the news as a heads up and then it does the dump again, just like when the the the futures one happened in 2017. Or whether it just moons after that, we go, we completely break the cycle right and do some sort of five spot ETFs go at the same time Bitcoin suddenly moons before the halfening and then the moon is a mega mega mega pumpy dumpy harvining, sorry, pumpy pumpy pumpy harvining event and and we go to some crazy levels, especially with all the like the war around the world and stuff like that, everything's going everything's going nuts at the moment. So is Bitcoin going to really become this worldwide more stable monetary system as as everyone's having these fights everywhere and and and stability ends up being in in Bitcoin specifically because you can't trust anyone's currency because it's all being used to fight crazy ass wars. So yeah, I think I think they are going to definitely get approved, but whether whether Grace Girl, you know, whether Grace Girl gets approved first, I don't know, I just see BlackRock pipping them to the post, right? BlackRock's too much of a big big bro in the scene. It could be interesting though, people could see Dan that if they are approved to convert their trust to an ETF, then it means that other ETFs will be approved, which means that I should buy Bitcoin now so I can dump it on people when the ETF news does come out, which is how we know everything seems to work. So maybe it's not so much this approval more like the idea that the SEC has come around and even though Grace Girl called them all these mean names and said that they were you know, your your application is arbitrary and capricious and you're you know kind of dog shit lawyers and all that like they're just going to push that side and be like it's fine, you can just do business. We had a whoopsie on that email. That was a bad one. That was a John Crewd email. Josh, what do you think about this conversion deadline happening tonight, Friday the 13th? Yeah, so yeah, I think it's the SEC is becoming a toll gate. They're a toll gate. They're not a regulator anymore. They're just waiting to get paid every time these large funds want to do something. They give you ridiculous rules that or reasons, sorry, and they don't even sometimes give you a reason. They just go, no, no, oh, why? When when not obliged to say the entire banking sector is like that as well. If you're banking, how can I shut down as a Bitcoin business or a crypto business? They'll just say, we're not obliged to tell you why, you know, what can we do better? Nothing. And then you start. So I can imagine the pain that the S is that these people trying to put this these ETFs together are going through. This is like that sort of ridiculous arrogant answer coming back. So yeah, it's it's tough to try and get something innovative through the legacy system. And that's why the FI is so it could be great or Bitcoin itself because it doesn't need it. It just does it. Build something better and let the legacy system become obsolete. That's my say, I don't care about CTF. I'm really don't. I mean, yeah, it'll be a pump, but whatever. Some people want stock to move this stock money into it. You have to just sell your stocks and go and put the money onto crack and what's your problem? The pension fund pension funds and things like that where you can't you can't like just use your pension money to go and buy. I'm not sure pension money should be spent on very volatile assets. Especially after all years, maybe years ago and we were recommending it. It was fine, but yeah, it's been years and years of Bitcoin. Not your pension and no, Josh, I think like all things this episode reminds us of the Godfather. And as we all remember in the Godfather, I think it was Frank Sinatra's character, Johnny Fontaine. And the guy says, Johnny Fontaine would be perfect for this movie. That's why I'm not putting a minute Bitcoin would be perfect for this ETF. It would make the price go up. Everyone would make lots of money. Everyone would be happy again. And that's why the SEC won't do it. And as we all remember, when this, you know, Hollywood movie man said no to the Godfather, he woke up the next morning with his prize race horses head in his bed covered in the blood. And one can only assume the SEC is changing their mind now. They can, hey, maybe we should go along with this Bitcoin thing. They've got BlackRock, you know, threatening to cut off our heads of our race horses here. Maybe we should, you know, let them have the movie. So everything. And now you've got Warren Buffett actually making a profit from Bitcoin company. Everybody's on board. And we're moving on to issue four. Issue four. Did you know if you can't read the New York Times, you can activate reader mode. And then you can read the New York Times. Yes, it's true. Issue four. Across the US, Chinese Bitcoin minds draw a national security scrutiny. Let's go to the rotating image. Yes, a Bitcoin mine in Cheyenne, Wyoming is declared too close to a military base. Other Bitcoin mine seemed to be all over the United States near power centers. As if Bitcoin mining demanded power. Microsoft, a competitor to these Bitcoin miners has tipped off the government about the Chinese who are running these Bitcoin mines. It may be time to put all these Bitcoin miners in camps. We're not sure yet. Josh, Shagallah, what do you think about Microsoft tipping off the government about the Chinese running data centers in the United States? Mining Bitcoin. It's so ridiculous. Even that footage is like some sort of war, footage from some drone. Look at these. Dangerous. Crazy. Look, and I don't understand why Microsoft is a competitor to it. It does see the whole story is written by a clown. But yeah, it's, I don't know. I don't think Microsoft would have reported like who at Microsoft? What? Bill himself. What a ridiculous weird article. But yeah, it's so dangerous than the people of the US should be doing it themselves. That's for sure. They shouldn't let, I mean, they should let whoever, but they shouldn't let the Chinese just be the single party here mining Bitcoin. And America has vast amounts of energy under it, under its shelves. So there's no need for Bitcoin mining to be based overseas too much. They do have very cheap electricity, a cheap power, cheap, cheap power. So yeah, they get amongst it. Get in there. Do it. Mine is, crunch those numbers, find those hashes, put the nonsense in there. Crunch it. We all know that the only safe Bitcoin mining can be done on Amazon web services. Those servers are good. Dan Eve, what about Microsoft and the Chinese Bitcoin miners? That's a very obscure thing for them to do, right? Isn't it? Isn't that, couldn't that be considered xenophobic? They're like, Hey, is that the Pentagon? You've got Chinese people next door. And they're not making Chinese food. Like what? I mean, what? What? Is it in the CCP? They don't say it's CCP related or something like that, right? It's there wasn't any link that they mentioned to the CCP specifically. They just be like, there's there's Chinese next door and check them out, guys. So I think that's a pretty pretty crazy move from Microsoft. Maybe they're maybe they're just a what's the word? I don't know. Maybe they're just a bit, they're that cagey about their secret data center that they think the Chinese are going to steal their secrets or something. And obviously there's a link to the Pentagon there, but seems to be odd right to go and like, dog them in. Like, hey, have you seen the Chinese? I don't know. How do they do it formally? How do they raise that? Did they? Again, doesn't mention the CCP. So you know, you should be free to to to mine Bitcoin anyway. They probably fill that on the internet. You know, why are what is bothering you today? Are they impersonating someone? Are they harassing someone? And the article also mentioned that the mining computers were also made in China. Oh, I'll watch out, please watch out. So pretty exciting article from the New York Times. Wow. I can't believe it. The New York Times were right such trash. I mean, I can't believe it. I have mining fortresses here. You got more pictures than you like. Safe. So I think I think I know that the reader gives you more like some of the article, but I think it does cap it right because there's only like two paragraphs in the free in the chief reader version. I don't get any cool videos like you do. There you go. So so that Microsoft are complaining because they're taking leaky from from the same source as their data centers. That's why. So they might be, you know, because Bitcoin might as well, notoriously, they can suck you dry all power that you need. And so they're like, well, we've got a zhuah and all this stuff. If the Bitcoin miners take too much, we have to shut down that that facility because we just can't pull enough or electricity prices in a tree free market electricity prices from that well, from that source will go up as should as they should because there's now competition. So this is typical Microsoft. They don't like competition. They have more than a thousand customers waiting to play MS Paintbrush online. And they're not going to pay. They want free access to paintbrush and they can paint with their friends, use AI to paint all kinds of stuff. Oh, go on. Don't don't dis MS Paint. I still have a Windows VM on my Mac just so that I can use MS Paint for basic things like that that seem a too way to complicate the figure out how they work in Photoshopping all that. So just have a VAM. MS Paint is nothing. I like, I like, let's make signs and banners. Program that does what it says. And you had the older rotor printers so you could print them out. They'd be connected together and you can make giant banners across your offices. Oh, yeah. Absolutely. Say Apple two. But I think we're running out of time. It's time to go to prediction story of the week or Dan's sad stories about pigeons. Dan, do you have a good story the week or a sad story about pigeons? No, I don't know. Apart from the fact that every day when I walk my son to school now, I have to walk past the spot where I found Barry and it makes me very sad. And I still haven't gone back into the garage and moved the box that I was keeping him in. So yeah, it was very sad. It's really difficult to say goodbye. Apart from that, it's been a pretty boring week. As Halloween approaches the possibility of a zombie Barry is on the horizon. That would be cute. Not scary. Josh, do you have a prediction or a story of the week? Go ahead. Yeah, so we've been the fastest growing protocol in terms of TVL on on Arbitram. The standard diet has been pumping it for three weeks in a row now. I'm amazed just like everybody else. I'm out. Wow. But I think it makes sense. We, you know, the protocol offers 0% interest, borrowing from yourself with 110% collateral and you don't need to give up your private keys. So it makes sense. And finally enough, Rapp Bitcoin is the most common news asset. So that's also fascinating to me. And the news is that our version two vaults should be released on Monday. And the version two smart vaults allow people to trade the lock collateral. So we launched with the MVP where you can just lock up and borrow. And now, as of Monday, with the new vaults, you'll be able to lock up like Rapp Bitcoin. And if you think Link or ETH is going to do better, you can trade over to that or you can diversify if you think, oh, I want to diversify a bunch of assets in as collateral. Or if the market's really shitting itself, you can trade to something like Pax Gold within your smart vaults and stop the bleed. And then trade back to Bitcoin. Rapp Bitcoin when you're when the market's cruising moaning. So it's going to be awesome. Please come and check it out. And yeah, help us out by giving us some feedback on the interface. You know, chuck a couple of bucks in there, test it out. It's really fun. And the early adopters are loving it. So fun. Nice. Nice. What a man. Yeah. That's great. Well, only get worried if you move to a tropical place like the Bahamas or Pramuda or Australia or something like that. Yeah, start. That's the good. That's the good thing about this. You don't need to trust me because you can read the code. It's all a free and open source. It's a bunch of smart contracts. I guess you do need to trust like Metamask, maybe as a wallet, you need to maybe trust. Yeah, that's about it. I agree that I need to trust the theorem isn't going to go down. But if you if you do think that those profiles are pretty good, then you know, you don't need to trust block fight. You don't need to trust Alameda or FTX. We don't need this. We don't need those thinking badges. We just need the smart contract. And this is the cypher punk dream, right? We don't need these centralized authorities. Why are we keep going back to them? Why? It's like, it's like, let's invent Bitcoin, become decentralized, and let's use tether, which, what? Hang on a minute. We don't even know it. They're like publicly don't show you what they've got in terms of reserve assets. They say what they have, but they don't audit it. And they fire the auditors before they get a chance to do it. And even if they did get audited, they'd hold the money in a bank, which is legally infraction reserve. Don't trust centralized things. Just go decentralized. Tether is the greatest story ever. I can't wait for the movie as well. Like you said, Josh, they didn't tell people where the money was. Then they made a huge and very risky bet with the money. Then because they were correct on the bet and sold, they have enough money to do anything they want forever now. So yeah, look at all one risky bet. It's a real M&M type situation. So yeah, yeah, yeah, yeah, yeah, but running out of time. Thanks to everybody for giving us a thumbs up, subscribing down below. Thanks to the 34 new subscribers we got from shorts. I'm sure they're all watching this hour long program. Their attention span is just perfectly lined up for after watching 30 second shorts. But thanks to everybody that joins us live every week. Dan, Josh, all the people, Marui, and all the people in the chat. Thanks for dropping chat, man. It's really good to see engagement for us. It helps us out the channel. Yeah, so thank you. Yep, put a comment in if you're watching this later on and you're all mad because you're not in the live chat. You're in the live comment section. It just lasts forever. So thanks to much everybody for joining us. Until next time, bye, bye.