The Bitcoin Group, the American Original. For over the last ten years, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Josh Shigalla from thestandard.io. Welcome, welcome everybody. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one, the price of Bitcoin. Oh, no, the price of Bitcoin is down. With the last of 95,566, a high of 98,449, and a low of 92,368. That's $1 for 1047. Satoshi's just over the thousand Satoshi barrier. Volume was 3649, Bitcoin's changing hands in the last 24 hours. But as you can see, it has fallen from a high of 108 to a low of 92 back up to around 95. As Bloomberg says, Bitcoin pullback deepens as US ETFs suffer record daily outflows. Yes, the ETFs are selling. The Bitcoin slide has fallen more than 10%. And as they say, it's pretty typical to see such corrections in crypto bull markets. Josh Shigalla, what do you think the prices down, the altcoins are down twice as much as Bitcoin, 10% for your 5%. What do you think is it over? I love it when the mainstream media, just all the lame stream media, I should say, take on Bitcoin because it's so non-sensical. Actually, I really find it a wonderful thing. It's a great thing. I'm really happy about this pullback because it means that the bull market is extended for another few months at least. I think so the longer something corrects, generally what you want to see is a correction over time and space. So meaning it corrects down as in space, it goes down, but it also corrects over time. Maybe give it like three, four weeks and it'll start to go back up again. What this will mean is that we found now a new range that this thing trades in. And we're far from the top in this cycle. This is a really wonderful sign. And actually, it's typical. When something goes really high, people will start taking profits. It's only natural. And the people waited and waited, and 106,000 was enough for people to start taking profits. Now, the ETFs make it very, very easy to take profits too and large amounts. So these have got to go somewhere. This is the thing about ETFs is that it's funny because the bigger Bitcoin gets, the more expensive, the harder it is to move the market. But the more new players come along that have larger pockets to play with. So in the, you know, if it was just retail right now, without any of these institutional or governmental players in here. And you would see, you wouldn't see the, it would pretty much be a stable coin because, you know, no one party can move the thing so much. But now, I mean, there's a couple of parties that could, but now we've reached this high, but we've also got these ETFs and these large players involved that will move the markets. And the interesting thing you can see here is that we've played through all the FUD scenarios for years, China bads, Bitcoin, everything else. I'm interested to see is will they, will they start trying to fud the market, these large players to move price, to manipulate the price because that's still regulatory, really, in a grey zone, pretty much still a white zone. Like you're still allowed to do that. It's not the stock market. So, so be interesting to see what happens. If these large players who have big, you know, fingers in the media can try to manipulate the price. Well, and I think in a lot of ways they already are and that this is their pullback and it's really entirely them. I don't know anybody that I was, you know, looking to sell, looking to sell. But like you said, Josh, I think it is that 106. It went to 106 and for a lot of people, they were saying, well, I'm going to sell on the other side of 100 and then they saw the other side of 100 and they took their profits. So I agree with what you said. It's a very good thing for the market. It's a mature market where something goes up. They take profits. Then if it's a good thing, if people still want to buy Bitcoin, it's still valuable and useful to them, which it seems like it still is, they will buy back and they will go past those people who wanted to get their profits until it reaches the point where people don't want to keep buying it. And we lose the institutional support. I do think it's worth noting. We are following the stock market right now, which is not great. So if everyone could just stop buying and selling at the same time at the stock market all at once, that would do it. But the stock market is down in the United States. They're basically without going political, I don't know how to say it, but yes, they've failed to get two continuing resolutions in a row. So Congress has no money to pay basically everyone on the federal payroll. It's five days to Christmas. That's all the military, all the scientists, all the other people at work for the government, all suddenly not paid. And so that's probably causing problems in the stock market, which is leading to problems in Bitcoin or perceived problems in Bitcoin. But like you say, Josh, it's all about that 106K being a solid number. I don't know if you guys have watched it, Mr. Beast has his new show, Beast Wars. I watched the YouTube portion and he was essentially bribing people to betray 100 people. So there's 100 people on your team, you're going to betray him. And he was like, okay, five grand, nobody jumped. He had at the top end, he'd said, okay, I'll give you 500 grand. So they could have all waited. He gets to 50 grand. The girl jumped before he could even start the timer. They didn't know what to do. So in the same way that that girl jumped, everyone else jumped at this 106, whether they're fund managers or stock guys or whatever, they took their profits. And now we get to see what happens. Like you say, Josh, if it's going to be an extended rally or a short and rally, I know who knows the truth about this, who predicted it correctly last week. Magic eight ball said, don't bet on it. Said the price is not going to look good next week. It doesn't look good. Josh, a gola exit question, the price next week higher or lower. I'm going to go with the roundabout the same amount. Like it's going to go pretty much up and down here from here. It's going to, people go by the dip by the dip, because how do you buy the dip? You sell the peak. And that's what the peak has been sold. So people are going to buy the dip. So it's going to fluctuate. And so let's say, let's say higher, slightly higher. Well, I always wondered, how do you buy the dip when you have nothing left, when you're all in and you ride in the rails of this madness? In that same way, I think it's the same asset that people were talking about on TV last week. And they were saying 250, 500. And then you got Samson Mal won't stop saying 1 million. So again, I'm pretty bullish on this thing. I remain bullish on it. The same way, the altcoins went down. The altcoins usually come back twice as much. I'm not saying which altcoin you have to guess. You have to guess on your own. And also it seems like NFTs are coming back. Spoiler alert, in case you were wondering, all of these markets seem to have a pretty, you know, predictable pattern where they have a big pullback and everyone says they're dead. And it's over. And then the same effect happens where people make money in Bitcoin. They put it in altcoins. They make money in altcoins. People in altcoins make money. They're like, where are we going to put this money? Hey, how about NFTs, collectibles? Anyway, I think it's all, I'm always bullish. I think it's going up. But let's ask the Magic8 ball who really knows what's going on. Will the price of Bitcoin be higher this time next week? It says, it is decidedly so. It is decidedly so. So there you go. Moving on to issue two, meme coins like fart coin, which had the board. Are riding Trump's victory to huge valuations? Experts say it may have only just begun. The Carnival Casino era of cryptocurrencies has come back with a vengeance. And again, I don't think it never it never left. Maybe we just saw a depression in Dogecoin and a comeback. Let's go to Thomas Hunt. What do you think? Well, first I don't think this is political. I don't think it has to do with Trump. I do think cryptocurrencies generally are up because of a perceived regulatory environment under Trump that will be better for crypto. So in that way, fart coin, I assume would go up. This mainly has to do with the creation of pump.fun. I haven't tried it, but I'm told that it's a Salona based thing where you fill out a form. You create a coin, whatever we're calling a coin these days. And boom, you're in business like fart coin. Fart coin, I assume is a funny joke like butt coin was a funny reddit that made fun of Bitcoin, even though Bitcoin kept making money and fart coin and butt coin kept going down. But if they had bought when it started, it would have been different for them. But it is interesting to see all these new ideas and this explosion of meme coins and ideas. And some of them are good, like I guess fart coin and other ones are like that quant coin where the kid rug pulled everyone and then the internet docks them and allegedly stole his dog, which is pretty much worst possible outcome. Like a lesson to everyone. Don't rug poll. You know, like they tell the children at night, like, you know, don't rug poll. They'll steal your dog. The internet has plays no, you know, it pulls no punches when you rug poll. But Josh, what do you think about fart coin? Huge evaluations. People making millions here on the jokes, I guess. Yeah. Yeah. I mean, I think fart coin did that start with like a fake AI that like they said that this it was it was AI that then said to go make money and it created fart coin and it was all nonsense. So just some dude making it. But yeah, fart coin. I just I just think it's fun. It's funny. People. People inevitably do say now that it's it's worth between $800 million and $620 million. If it's $800 million, it's equal to office depot, gas jeans, steak and shake. It's really it's really wild. Yeah. But you know what I love about NBC that just they never stop with their with their crazies. If you want to bring up that slide again, Thomas and just scroll up. Is it is what I love about how manipulative and disingenuous they are. So if you scroll up right up all the way up, what do they do? They put the headline with fart coin and Trump's face. I just they're just such such annoying news outlet. But anyway, they could have chosen any any meme coin really. They're all they're all bumpy, dumpy things. They're casino. They're you know, which color you're going to choose. And at that's the point. The same with Huck tour, all of these things and you you get you get rug pulled. You get you get gains. You get lambs. You get all sorts of things. I'm trying my best to do the you know, the carnival. The carnival on the mic. But yeah, you get you get all sorts of things and it's it's a mad mad world. Don't trust anything. I don't need to tell our viewers. That's smart enough. But fart coin. It's just such nonsense all of it does make me laugh. Well, I'm sure everyone in the audience is like, damn, I missed out on fart coin. I really could have scored some good bucks there. And I do think you write Josh. If you look at this, the implication is that he's farting here, right? He's kind of like past the curtain. It's like it's a pretty funny image. But I mean, you got it. You got a figure there like whoever's writing the headline for the fart coin article. It's like, this is a big, this is a big ass joke. Like this is a joke anyway. All this stuff. But then when you get down to the article and it says $800 million, $620 million or like market cap. So if you had 10% of it, you'd have like $62 million. Like well, 1% of it should have $6.2 million. So yeah, it's just, yeah, but then you got to rub it so fast to get it out because it's got, it doesn't have that much liquidity. You know, none of these things do people put these astronomical numbers, but the liquidity there isn't enough for anybody to pull out even 6 million because as soon as you do that, it's down, it's down, it's down. So as you try to pull out 6 million, you'll pull out maybe one and you would have rubbed out everybody. See, now that's what they need is more of an adjusted number here, similar to baseball when they had inefficient statistics like ERA and they replaced them with better ones. What could they do here, Josh? Now can they include the liquidity into the market cap? So you start out $800 million. That's a market cap, right? That's one of those multiplications where if I have a billion tokens and I sell you one token for $100 and I, times 100 times a billion, suddenly I have $100 billion market cap. Yeah, you've got a $100 billion market cap. But as far as liquidity, my liquidity is $100. I sold you $100 and even that, it's questionable to say that I could reap. You produce that transaction that you could resell that for 100 or that I could sell a second coin or whatever for the 100. That's not clear. It's also a market liquidity. It's how fast the market is moving as well. Because we see that with like NFTs, they're not fluid, they're not moving. They might be worth this much because the last person paid that but can you repeat that transaction? Can you get a second or a third buyer? Yes, sometimes now. That's right. That's what we've done with the standard is because people borrow for 0% interest, they borrow the stablecoin, they need to sell it. We have the global borrow limit and the Dow decides, hey, when do we release more tokens? Because there just isn't enough liquidity to always give people loans. And so we're very specific. Look, there's enough liquidity in USDC now in the pool to lend up more currency. And so then people can trade what they've borrowed for USDC. But if you just give as much as possible, when we first launched, what's going to happen is just constant sell pressure and it destroys the source. So that's what it comes down to is liquidity. You could definitely make a really good, nice adjusted mathematical formula that takes liquidity in and of the B very dynamic number liquidity into account for these market caps. Yeah. Well, and one of the neat things about what you're saying there, Josh, is that once you can pool your assets, you can combine them with other similar dollar assets or euro assets and actually have someone that would want to come in and buy them because they're part of their same, they're part of a pool. In the same way with NFTs, I worry for so many of the, so many, they're one of ones or their number one of one 34 or their numbered with curio cards. It was a really neat kind of accident that happened where they're not numbered. So you can trade any apple for any other apple. They are fungible amongst each other. And this has the ability to create a market where people are trading for apples, you know, because they're, they're all equal. The problem becomes when you have a special green apple that is incompatible with all other apples. That could be really hard to sell or really easy to sell depending on the market. That's such a great dynamic. I really love it. Non-fungible, fungible and token. Yeah, that's great because they really are. You can't tell them apart. But let's keep moving here. Let's move on to the next issue. Check out world crypto network at worldcryptonenetwork.com. You've got 4,064 videos. You could watch them for three months, 20 days and 16 hours. Consequently, with no breaks. And it's been 11 years and 14 days since our first video. Moving on to issue three. World's first Bitcoin nation scales back crypto dream. El Salvador has taken a deal with the IMF and the IMF has conditions. They've asked El Salvador to not make Bitcoin acceptance required anymore. Also to break up and or sell their Chivo wallet company that they owned. And in return for this, El Salvador gets a really sweet loan from the IMF. El Salvador has accepted these terms and also reinvested into Bitcoin during the current price down situation. Josh, what do you think of El Salvador? Have they caved? Is it over? What about the IMF? The ultimate throw would be to borrow from the IMF and buy a Bitcoin with it. It will take it. It will sell this Chivo wallet because it's crap anyway. But yeah, it's super interesting. It's super interesting. I'm loving watching the dynamic of a state playing with the currency that they can't print out of nowhere. I don't know. If these big bullies like the IMF come along and tell you as a sovereign nation what you can and can't do, I guess it's understandable because it's a private entity. The IMF is made up of private donors, I think, and different countries. So well, and even though we both know about that book, Confessions of an Economic Hitman and how the IMF runs countries against each other, if we did look upon it, charitably, we could say that they want to give loans to improve countries and they have a list of what improved means. And we might not agree on what improved means because sometimes it's not as straightforward as cleanliness and health or something. It's like provide access to the monopolistic sugar company, stuff like that happens often. But in general, the idea is that they're giving these loans for the betterment of these countries. In this case, they're bettering them by reducing their ability to use Bitcoin. Yeah, and fundamentally, I think the reason why you would want to take a loan from the IMF is either you're in total this May, you have nothing left and you need something to kick start the whole state or you want to speed things up. And, you know, I don't see El Salvador doing badly right now. So it feels to me like it's more of a sped up or it's something more than the farthest, like they're threatening something. They're threatening something. And who knows? Who knows? Let's see. I don't know. I mean, it would be fun to think that he's scamming them and that he's turned the tables on the IMF. But to think of that as well, to think if he was really that devious, you know, imaginary, obviously never met the guy. But you'd have to think, well, maybe he could get the IMF loan, keep that in the front, and then use his powers and whatever to sneak the Bitcoin out the back door in a briefcase. And the same for the Chivo Wallet company. Remember, Chivo Wallet was supposed to give everyone a little bit of Bitcoin as a reward. And we of course thought about it in a brain experiment and it's the same thing as change tip. Why give them actual Bitcoin when you could give them vouchers for Bitcoin or potential Bitcoin if they log in, if they sign up, if they get over these five hurdles, then they get the voucher, it goes into your wallet. It's still not Bitcoin until you withdraw it. When you withdraw it, then it becomes real Bitcoin until then it exists in their database. So there's still a chance to loot that database. There's still a chance to loot the Chivo Wallet Bitcoin or for that, if you do be a big story. Oh, we're closing down Chivo Wallet and we had incredible losses. We don't know what happened. It's all gone. And so again, that could be family, that could be accident. We don't know, not involved. But that's one of the great things about Bitcoin. It's so great to make some money disappear for a country or for a company, for a giant government. It's so hard to make pallets of cash disappear in the same way. Oh, you can send it to a rock. That worked. There's lots of other places you could drop a pallet of cash. Remember, $100 bills are the best use for a lot of cases there. They're always the best. But let's keep moving. Let's move on to issue four. The controversial issue is Bitcoin's 21 million supply limit, a lie? BlackRock's controversial take. And BlackRock thought they were being nice here. They made an explainer video about Bitcoin. It's animated. It's very cool. Probably cost a lot of money. But when they get to the part about Bitcoin's 21 million unit cap, which makes Bitcoin sound money and doesn't really matter anyway, because we can keep going down and down and down in decimal places. People just aren't thinking that BlackRock thought it was a good idea to put a disclaimer on the screen saying that we don't know if Bitcoin's always going to be at 21 million units. The only way to change this would be a hard fork, which would be similar to making a copy of Bitcoin and having a second Bitcoin. Josh, what do you think about BlackRock putting this disclaimer out in an otherwise presumably great explainer video? Well, I mean, you could, you know, I could say that humans, we could talk about space and time and that, you know, humans that will be able to travel at the speed of light. And with a slight disclaimer on the side that... I remember last week's FUD was quantum computers. So don't forget that. We've just had a quantum computer FUD. Right. Right. And in the beginning of the show, I talked about these large ETFs starting to manipulate the market. Right. So these could be subtle manipulations. It could just be illegal, legal, cover your ass for everything because I don't know, I don't understand. Like the fact is, yes, yes, we could all get together as Bitcoin holders and Bitcoin miners, the miners could all get together and say, we want to create more Bitcoin. The likelihood of that happening is like everyone getting together and saying, hey, do we all want to be poorer? We all want to have less Bitcoin, like less value, sorry, but more Bitcoin. And obviously the answer is no. No one is going to say that. Let's say you get one freak that's like, yeah, I just want more Bitcoin. I don't care about the value of the Bitcoin. Then you'll get five people, if it's a room of 10, you'll get one person saying it and nine saying, no, there's no way. There's no way you can get consensus to do this, not at all. I mean, look at look at the problems we had just with scaling debate. Like just trying to get the block from one megabyte to like two in terms of limit, block size limit. It's impossible. So, yeah, it's not impossible, but it's very, very hard. It's improbable. It's improbable that we'll be traveling at the speed of light anytime soon. It's not impossible, but it's improbable to it. Such an extent that it might as well be impossible. So I think first we've got to understand that BlackRock and their legal department, like you're saying, Josh, doesn't understand Bitcoin and more importantly, they don't understand open source code or the block size war that we just had. So first of all, a fork, whether it's a hard fork or a soft fork, we're mainly talking about this first category here. What happens when a blockchain diverges into two potential paths forward? So, in the same way that Apple could break up into two companies called Apple Music and Apple Video, the Bitcoin could break into two Bitcoins, Bitcoin 1 and Bitcoin 2. So, I don't think they need to warrant their people about it. I don't think it's as likely as they think it is. And I don't really believe that they have a conspiracy where they're going to push through these radical changes and have a fork have the BlackRock Bitcoin unlimited Bitcoin infinite BlackRock Bitcoin, whatever they want to call it. I don't think they're going to do it. I don't think they mean to do it. I don't think they even mean to say that they're doing it. I think they just don't understand the consensus on Bitcoin and they also don't understand the block size war. So, that's why again, I would recommend them Jonathan Beers excellent book, the block size war. It would be great if they read it, the battle for control over Bitcoin's protocol rules. And they would learn that there's an interesting dichotomy between the Bitcoin nodes, the Bitcoin miners and the Bitcoin users who control Bitcoin. And if all of the nodes and all of the people that are running this network helping the decentralization aspect, which is one of the features of Bitcoin that they never talk about on TV. But decentralization is what allows you to send those messages in money that cannot be censored. So, you get the unsensurable money from the decentralization. And if you lose the nodes who create the record, that is the blockchain, the nodes write down the transactions into the ledger, and then the miners confirm them. It's a complicated system and I just don't think they understand all the parts of it. I don't think they're willing to go it alone to make BlackRock Bitcoin. But a lot of people on Twitter do and they're having a field day going after them and punching up and whatever they think they're doing. But Josh, what do you think anymore on this? Are we going to go over the 21 million cap? No, absolutely. We're not. Maybe a fork will. But there's plenty of coins out there that have hardly any like terror lunar. Didn't have a limit on their lunar that was backing their terror. And it was a terrible idea. And by the way, the block size war book mentions my company in there. Thank you very much. We did play a little part in trying to stop the stalemate with Valtaro at the time. And we did eventually as a community all managed to get rid of the stalemate, Bitcoin cash forked off into Bitcoin cash who wanted bigger blocks. Bitcoin managed to get BTC managed to get segwit, which allowed for lightning and that way to scale. So and anyone holding coins on that chain beforehand, guess what? You got coins on both chains. So you were happy you could watch it out. A lot of the hardcore like just quickly sold. Some of the others kept kept holding and just see what happens because we don't know what will happen. What is best? You know, most users don't know. Some users feel they really know. So it's also a kind of a prediction market as well because the market tells you where the direction of this thing is obviously have a massive marketing push from Roger Verf for that chain for the Bitcoin cash chain. You've got marketing push from or just passion push as well as marketing push on both sides. So it was a fascinating time and I just yeah, we're never going to see that sort of thing to to reach. Now what we could see though is we could definitely see a consensus to change the the amount of decimal points that the chain does. And I'm pretty sure that takes a hard fork as well. And but I'm pretty sure you would get a consensus on doing that because that's the important part. Can you get a consensus if you can't because what happens if you don't have a consensus you'll get two splits and two passionate teams will go and make their own coins and that'll happen. If you do get a consensus, the other one that splits off the old one will just fizzle out and die very quickly. You'll get some passionate freaks that just hold on to that last bit. So you will consistently always have a little bit if you can keep up the hash power. But most of the time you won't. So I think there you could get something where we get actually more decimal points, which means slicing that one cake or that 21 million cakes into smaller, smaller bits. It's too bad we couldn't get that in as a soft fork because I do think we're going to have to go lower in decimal places and that's what they're not thinking of here. They're not again not seeing the future of Bitcoin that we can go lower and lower in decimals, column something, stop the thing there. You use the app. It only sends around tigers. You know, tiger is, you know, 0.000, 0.000, whatever, Satoshi's. And I think lightning network, you can send sub Satoshi's already. But it's it's non-finality of it. Whereas the the on-chain stuff is final. I do think we're going to do that. And like you're saying, Josh, BlackRock is selling this all the wrong way. If Bitcoin hard forks into two Bitcoin coins, you'll get Bitcoin on both chains. This if Apple split into two companies, you wouldn't necessarily get stock in the new company. You really just get stock in the old company. You don't own anything they do. And really, if we want to talk about scaling possibilities, I think that the things they would look at beforehand is Satoshi's coins, whatever lost coins are and whatever dead coins are. So once again, that we use coins people and that guy who throws coins into the dump, he could point at his Satoshi wallet and say, Hey, here's my whatever Bitcoin, they're lost in the dump. I declare them dead. I was the owner. And then I don't know how you decide this. And this is why you can't really agree on this, but you ring a bell. And then I guess you donate them to the developers. I don't I don't know if that guy would get 10%. I guess you can't give him anything because he doesn't have the keys. He doesn't have proof that it's his wallet. But maybe he could if you were going to say that these coins are dead, which is also kind of nonsense. Because if someone comes through with that wallet, they have the keys, they should get the coins. So that's why these ideas of taking these lost coins, taking these Satoshi coins, putting them into a developer fund or a mining fund or a developer fund and a mining fund, which many other cryptocurrencies have with great success. Some of them even having an advertising or marketing fund where they could pay podcasters. So you don't just have to starve and spend all your Bitcoin. These are all cool ideas for Bitcoin. But truly lost. That's the thing. I agree. You can't prove their lost. And you can't even really prove that you've done podcasts or anything. None of these things are provable in the same way as having the keys and unlocking it on your own. So that's why I think it's going to be hard for Bitcoin to do. Any of those ideas, all of which are much less controversial than saying, how about we just do 42 million coins? Why not 84? You know, let's just go up the line. I don't think it's going to happen. I think they made a whoopsy. And it's too bad because I was kind of inspired and excited that they're making an explainer video. I was like, this is something we used to do. This is something like all my friends, all my Bitcoin friends have been trying to do. Everyone's trying to explain this complicated thing. And it's exciting to have some super professionals hired by a fancy bank to do it. But then I guess they didn't think it through. They asked Peter Schiff, maybe for a bird advice on the video. Maybe that's why the disclaimer came in. It's always the worst. You should talk to the best. Anyway, let's keep it moving. Let's check out some short stories that we have. Greenpeace is suspending their Change the Code campaign. They had a plan to change the Bitcoin code to make it more environmentally friendly. They also had a big skull with nuclear silos coming out of the top of it and big green eyes. And they were very trying to scare people about how much energy Bitcoin is using. Josh, what do you think? They've abandoned the Change the Code campaign. I'm kind of disappointed. They didn't actually put any pull requests forward. I do think that they had a chance to if they if there was a way to simply make Bitcoin environmental friendly. I don't know why people wouldn't consider it. So if they could put that into a pull request, there could be a discussion. Yes or no. And I think that would have been a much more successful end to their campaign. We put forward or a question. They said no, rather than whatever this is, they tried something they quit. I mean, mainly they're kind of an environmental, you know, advertising organization. So I suppose at least they're not advertising against Bitcoin anymore. But again, I think they should have engaged more on this code thing. What do you think, Josh? Yeah, I mean, look, Greenpeace used to be an environmental action group that would actually do things and didn't have, you know, but yeah, the socialists took over and then you get lazy socialists that don't want to do anything actually and just want to campaign from their computer. And then you get you get Greenpeace, even the Greenpeace founder was like, I had to leave because now it's just full of socialists and hardcore lefties. So what they tend to do is just scream and shout and be annoying rather than doing it like, yeah, like you said, as if they they poured millions into these campaigns of donors money. This is why donors are all leaving this nonsense behind and doing actual green work with their money rather than just giving it to these fools, which I used to love, by the way, so love Greenpeace. But they just blow it, they blow it and they couldn't even put a pull request. Couldn't even put a pull request. Like, how hard is this people going there, put a pull request for proof of stake or whatever you think is greener and let, you know, push for it in the forums and stuff. Didn't even happen. Not that I'm saying it should have happened because it wouldn't have and it couldn't have, and I would have been totally against it. But at least try. Not they didn't even do that. They just put up a statue, spent millions and dollars on marketing nonsense and just crazy nonsense. They could have even tried smaller, maybe just a flag for like green mining, where you're like, I'm mind this Bitcoin with ecologically clean mining and you could certify this and there'd be some organization and the computer could ping that server and they'd say, okay, it's code number doggle, okay, that works. That would have been a small change, but then you would have been able to say, oh, this is a special greenpeace Bitcoin wallet that only uses ecologically mine Bitcoin, which Mr. Wonderful, you mentioned him, Josh. I think he was talking about that early on and I was again cursing to myself like, why don't we make these Bitcoin more anonymous so that this nonsense goes away. The same thing when I hear about like special satosies or people wanting virgin Bitcoin that's fresh from the mine, you know, the clean stuff rather than that dirty transaction laid in Bitcoin, where one day they could say, oh, your Bitcoin was once in the wallet of the Silk Road, therefore, we're freezing all your accounts, which again, with these dirty satosies flipping everywhere, who knows what's going to happen, but yeah, your I Josh Greenpeace did make one heck of a statue, it says artist Benjamin Vaughn Wong, and as you can see, it's got people around it, nuclear silos on the top smoke coming out, there's a little kid up close, I think this is a facsimile. I don't know, maybe this is them clean up Bitcoin, they put it on a car, truck, they drove it around. So good, no different stuff. I love that they put it on a car. That's beautiful. It is kind of funny, and it does seem to be a gas powered truck here, I would have to guess. Maybe it's an electric, but yeah, they also tagged the energy, it used energy to move around. So whatever energy you have, there's some sort of, you know, to the extreme side, there would be some sort of... They brought the skull of Satoshi to Fidelity's offices in New York City. Just when we get some nice friends, they start protesting. Fidelity's like, remember that Bitcoin program we have? Yeah, they're protesting us now. Great! Oh, come on. But yeah, I agree, Josh, it's disappointing. They didn't put a single pull request through, even just like a joking one. Let's rename Bitcoin to green Bitcoin, and this will change everything. No, nothing. No kind of thing. So let's move on to the next small story that we've got. We've gone up update from Arthur van Pelt on Twitter, Arthur underscore, our van underscore Pelt. He says, what we all expected just happened. Craig Wright is sentenced to 12 months in prisonment, suspended for two years, pay copas costs for five proven cases of contempt of court. To add to this, Wright's passing off claim is a clear breach of Mellor, judge Mellor's previous orders, and will be struck out. So Craig Wright has not only lost his lawsuit, but been forced to pay, and even spend prison time, or perhaps he'll get that suspended. So this is the end to the Craig Wright case. Josh, Agala, what do you think about this recent update to the Craig Wright situation? Well, if prison, threat of prison doesn't make him sign the original thing. If I was Satoshi, and I'm not, if I was Satoshi, I definitely, and I would, I had this weird excuse that that I didn't want to sign because that's not the legal way. Whatever he says, then I'm pretty sure I would sign just to go, look, here it is. Okay, if you really want me to sign, here it is, and then he'd be like, oh, wow, it is Satoshi. And like maybe one in 1,000 people go, he could have stolen the keys, but I'm pretty sure most people would go, oh, okay, so Satoshi was an asshole. All right, well, you know, because it's very unlikely that someone could steal like the original keys. So, but, you know, I'm not a big fan of celebrating jail time of anybody. I'm not like, yes, jail. Great. If someone murder someone, absolutely in jail, what I do think though is that he would have celebrated people going to prison, but denouncing that he's Satoshi. So, because that's the case, I really don't care. You know, I don't, if, you know, he went after people like anything, you know, that big players in the space were afraid of speaking out against him, asking very reasonably to sign the original key. Otherwise, we don't believe you. Totally reasonable. And, but yeah, I think now he's going to stop claiming it. I'm pretty sure N-chain is not going to, is going to sort of distance themselves from that and maybe not N-chain, maybe they'll split off into their own thing because there's, you know, some talent got drawn towards that scammy project. And so they've got some talent there. It would be good to see that talent actually working on problem projects, but it'll just keep on going. Pretty sure. And, but yeah, jail for someone that wanted other people in jail. Fair enough. It sounds like Josh, he's going to jail for a contemptive court. So I think this is probably when he faked the evidence, allegedly, I suppose. But yeah, there have to be penalties for bringing malicious lawsuits for misusing the legal system, as I believe Craig Wright has, where like he says, pushed all these developers into silence. He made people edit their web page, take down the Bitcoin white paper, all kinds of stuff like this. And on the other side of that, he now has to pay people's legal funds. He might have to spend time in prison. It's unclear if that's actually going to happen. It does sound like he's definitely going to have to pay some money as a retribution, which theoretically stops him from misusing the legal system again and sets up a signal to others where it's like, please don't sue people if you don't have the goods. And if he wasn't willing or capable of signing this thing, he didn't have the goods. But then again, like Peter Todd Satoshi said, maybe I just destroyed all the keys and destroyed all the evidence of me working on this Bitcoin project so that even if I suddenly changed my mind and wanted to tell everyone that I was Spider-Man, the costume's gone. You know, all the evidence is gone. Who's to say I'm Spider-Man? I mean Satoshi even said himself, there's no need to ever destroy any private keys, ever. Just keep them all. So it's a doubt that that's the case. But yeah, you're right. Like the signal that it gives the market to these sort of affinity scamming type projects is clear and loud. It is unfortunate that it's over-contemptive court rather than hey, you've basically made all of these people miss out on nice fat gains by making them believe you're Satoshi with your crappy Satoshi thing. But anyway, yeah. Well, that's probably the new part, Josh, a second lawsuit where they do go after him for that. And I think that blends well into our next story. Hock Tua Girl, the girl who's famous for saying you've got to go Hock Tua down on that thing. She has gone silent for two weeks and has not dropped any episodes of her talk to a podcast since quote, going to sleep after rug pulling millions in a meme coin. And for you hardcore bitcoenders who haven't heard about this story, it seems like the Hock Tua people or perhaps someone working for them created a meme coin on Solana on I assume pump.fun. The meme coin went up up up up up up. I assume this is market cap or this says it's volume $450 million of volume and then right down to a hundred down to $60 million in volume. This happened faster than anything ever before. I think it was about half an hour an hour for the meme coin to pump and for it to dump. We also have an update on this story, according to Douglas A. Bonaparte, Haley Welch, aka the Hock Tua Girl, released a statement stating that she is committed to holding the responsible parties accountable for the loss of $440 million in her meme coin. And as the meme says here, we're all trying to find the guy who did this. Josh, you got the what do you think about the Hock Tua meme coin Splendzwell into fart coin and many of the other stories we talked about. First of all, don't take investment bias from someone that tells you to spit on fallacies. Especially when they're dressed like a hot dog. She's dressed like a hot dog. Yeah, look, I know that people want revenge for these sorts of things and it's easy to point to the logo. But the Hock Tua Girl is a young idiot. She is not, first of all, if you invested in this thing, you're too blame. First of all, say it all, she's not totally not to blame. But there is a machine behind her that she had. She has no money. She's not, she's not some rich just because she's famous. Doesn't mean you're rich. She's not like the old days where if you're famous, you're also rich instantly. Nowadays, you can be famous because the internet and virality, but it doesn't mean that that's turned into money. So and I'm not standing up for her either. I'm not saying that she's innocent. But what I am saying, or totally innocent, what I am saying is that behind this dumb 22-year-old that suddenly wanted to be part of, you know, oh, yeah, you can take my brand and make a coin. And this team comes along, creates a company in the Caymans or wherever they did and starts to build out a whole lot of things and then destroys her along with her career. Now, everyone needs an out. The people in the background, no one knows who they are, so they can't talk about them, but what they can talk about is the brand, which is her, and just smashing her. And you know, she'd be scared. She probably, you know, I would, I don't know for sure, but I'm pretty certain she wouldn't even know what went on. She just woke up and she's like, I have to be on this Twitter spaces. What? All the money's gone? I'm not rich anymore. But I'm holding all these bags. I could have been a multi-multi-millionaire. I'm pretty sure the team behind her dumped on her took her, used the brand to pump and dump. And that team, if she's clever, she'll get lawyers behind her to take whoever orchestrated this whole thing with her to court. And there was Coffee Zilla was on the Twitter spaces or the ex-spaces with her and the guy that was orchestrating it in the background was talking to Coffee Zilla. So there is definitely a team behind her. And that's why, you know, I actually, there's a part of me that feels sorry for this young girl who really, I don't think she's got enough brain cells to really understand even what's going on, let alone orchestrate this thing. Yeah, you mentioned Coffee Zilla, Jarsus, reminds me of Logan Paul when he created his crypto pets project, which Coffee Zilla is covered in detail. He hired other people and then those people were allegedly the bad programmers or they were the bad market makers who ended up taking the money and running off with it. In the same way, if Hawk to a girl actually got the money for this, I would kind of laud her and it would be celebratory. But I think you're right, Jarsus. I think someone got in there, used her name, said, hey, let's start this little coin. She has no idea what she's signing, what she's agreeing to. The thing pumps, it dumps and her head's just spinning because she can't get $440 million to pay these people back. That's not going to happen. But it was impressive. Sure, go ahead. No, that's sorry. I didn't mean to interrupt. She'd be scared. No, you terrified. Oh, absolutely. She'd have no idea. And what a, again, maybe it's good for the movie. It's a good plot point for the Hawk to a movie where she's all worried and she thinks they're after her and it's a whole paranoid delusion thing and she should probably check herself in a rehab. I think that's a good play right there because this is a really taxing thing. But what an impressive thing her management has done up until this point. She has almost a nothing meme that would have gone away. She turns it into a podcast. I think she's got stickers and t-shirts and all the other things. She's selling merch. She got guests like Whitney Cummings and Mark Cuban, the famous guy who likes bananas, not Bitcoin. He went on there and I'm pretty sure he said to her something like, I don't know. You know, your coin could be just as valuable as Bitcoin. You know, I don't know anything. Dogecoin could be just as valuable as Bitcoin. No one knows. Is that what he said? No. Well, I do think he said on her thing that like, I think he fained polite interest in her coin, which is like a little irresponsible because people might invest based upon that. And I know it's hard for everyone to like be like hard as stone. You're like, I never recommend anything on camera. I'm sure I've recommended things and Bitcoin or whatever. But yeah, you have to not recommend things on camera, Mark Cuban. Like you can't just casually say like someone's thing is nice. I'd have to go look it up. But it's just crazy to me that he would even go on the hawk to a podcast or that she got this meme blown up a second time, a third time. They ran the crypto scam. All of this really seems like much more than the 15 minutes of fame that she deserved. This is extra time. And maybe it's like staying out after midnight. She just stayed too long at the party. And then this thing happened to her. Well, that's it. So I think we're running out of time though. Josh, do you have a prediction or a story of the week? Go ahead. Oh, the story of the week. We're building the final upgrade, not the final update, but a big upgrade to the standard, which is called the stable core upgrade. And it's really, really interesting. It's being it's being audited right now by Cypheren. We've got the first draft of the audit back and going through and fixing all that up. The little bits that they found. So they found some really really interesting things with the code, whether they're inefficiencies or ways that people can manipulate. And this is a great thing about audits is that it's not just code. It's really interesting game theoretical problems and all sorts of stuff. But yeah, what will happen is that these smart bots will be able to now tell if there's a deep egg and basically go and find the most over leveraged one and start to pay down that debt with the collateral automatically. So there will always be more collateral locked up and stablecoins and it'll it will basically make it very, very improbable. That will be a deep egg because these these smart bots will go and buy up the stablecoin to pay themselves off at a discount. So if you have a debt for one K and the stablecoin at extreme drops by 50 cents, now you can now the stable that now the smart bot will pay itself off at 50% discount because of that. So it's it's a really interesting upgrade and I'm just super enjoying building this. I just love building great software and yeah, if anyone wants to have a look at what we're building and gives feedback, head over to the standard.io and yeah, let us know what you think. I wish I'd had that smart vault thing last week, Josh, when Bitcoin dropped 5% and everything else 10% I was like, oh, if I had that loan buyback thing, I bet it would kick in now. Well, it kicks in only if the stablecoin actually deepakes because of it and all of the components that we built, it makes it very, very improbable that the stablecoin will deepakes. Because it's backed by real value like Bitcoin, like Ethereum, whatever people think of Ethereum. So when people lock up that asset, there's more of that asset than there is stablecoin always mathematically improbable. And so if there is deep egg, what will happen is certain vaults will just take some of those assets and buy that back and that'll just keep rise it back up because that buying pressure pulls it back up. So it's a fascinating upgrade. It'll really solidify the protocol. I feel game theoretically it's all very balanced now. So yeah, very, very proud of the team, what we've built and come check it out. That sounds awesome, Josh. And like we were talking about game theory I was thinking earlier about Satoshi and how he must have thought about this and thought about that and thought about this. And I was reminded of course that great David Mammoth quote from Heist where he says, I try to think of someone smarter than myself and then I do that. And Satoshi must have done that a hundred times and really thought about that. That's so true. And you know, for us at the standard, we've taken four years and iterated to the point where we feel we've got the right thing now. Where Satoshi iterated everything almost like Tesla did in his head and then released the final thing as a finality. Pretty much. I mean, we have had upgrades long away. But you know, with these hard forks and such, but and soft forks. But generally speaking, the core principle with Satoshi released is still there. It has the complexity of a great novel. And that's my story of the week. I finally finished Remday. I thought it was good. It kind of drifted from the cyberpunk technical part that I liked at the beginning about World Warcraft and became more of a conventional Tom Clancy book. But if I see this in combination with Fall or Doge and Hell and see this is kind of a part one to fall or a sister book if you combine the two together, which would make a really big book, then I think it's great again. And I think it's just a dashing introduction to Fall that I read first. So, Stephenson's always great. Not sure what I'm going to read next. I've actually been checking out Victoria's book, How Bitcoin Fixes This. It's super good. You can get it on Amazon and you can get it for Kindle. I found it on my Kindle and was checking it out. One of the great things about Kindle Josh, you can have a whole bunch of books on there. Be sitting somewhere and then say, I want to try this book. It's not interesting. Try that book. Oh, this book. Whereas before, I had to carry around a whole bag of books to get a similar book experience. So it's a great surprise. It's on any any reader, of course. Yeah. Yeah. I've literally, my stepmother, she goes on holiday with this huge bag of books because she's a keen reader. And we all gave her a Kindle for Christmas or whatever it was. It doesn't use it. Still loves to cut around huge bags of books on her holiday. Sometimes you want the real books. Sometimes you want the Kindle. I've gotten a little spoiled by having control of the text size. I can make the text size bigger. And then I also love to highlight things. I have to carry around little flags to highlight normal books. But the Kindle, you just touch the screen and highlight it. So it's cool stuff. To Starship Shoting is point you also said you can't use a Kindle book to prop up your monitor though. And you can't use a Kindle book to reach the cookie jar. So how well kids of the future survive. They'll just strap their monitors to their face. And no one will ever eat cookies anymore. Josh sugars over. It's a disaster. But we're running out of time. Thanks to everybody for joining us. We should have to give us a thumbs up down below. Say hello in the comments. High to the chat. We'll read that soon. But thanks to everybody for joining us. It's always hard to get together in these holiday weeks. Everyone's on vacation. We had a couple guest cancel. We'll try to get together again next week. It's a few days after Christmas. I think we've got a good shot at it, at least for a couple of guests. And then we'll have new years and other stuff like that. Hopefully Josh can let that dog in. Yeah, I'll let him in. I'll let him down the thing earlier. But he's been pretty chill out. God. I'm very pleased to walk. So thanks to everybody for joining us. Until next time. Bye. Bye.