BlackRock Bitcoin Fund: Is It Good For Bitcoin? | Britcoiners by CoinCorner #93

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[Music] yo [Music] [Applause] yo hello oh yo Danny yo yo guys right hello everyone have a great weekend of that quiet day while dude thank you yeah right the price obviously uh butan mining uh Apple products sure Dave president of Kenya dump in the US dollar uh Brazil president signs law for crypto firms uh BlackRock um Fidelity and Bank of America America um I'll say buying Bitcoin the headline says buying Bitcoin which is a pure lie but all combat sir um [Music] another more crypto firms shutting down which I just want to briefly touch on um and Bitcoin ETFs which kind of tie in with the BlackRock uh Fidelity stuff like glorious ramble and no it was just well it's just how you pronounce that country that's got into mining if you just run that by me again butter okay I would have said Bhutan anyone else anyone else Putin it's just my accent I'm sorry no I'll show no one else find that ridiculous that was the way I said it couldn't I wasn't particularly all right fine I did see you audibly sorry that's gobsmack that no one else was I would have stopped the podcast and gone again yeah she's being a friend all right you want to keep that out there do you want to know that that's the official way that you to be quick and efficient with everything so it's just dream on and I just can't pronounce things what's the price uh 26 000 26 26 403 dollars um up from last week I think yeah um we did dip down to pretty much 25 000 on the WW dip under 25 briefly yep dude very briefly and my back didn't quite get it when I smashed by I can't even remember if I did I know it was a blur last week um kind of come back around we'll come on to the news which may be bullish for the price maybe bullish in the middle I'm not for the price is extremely bullish I'll shorter mind but anyway go to mutant minor let's go back yeah let me just make a note I'll come back so early I have barely any seat was like why I also had a miner on most of the day so I've made it hotter so partly my fault I had a minor on for about five hours right so it's I mean I was on Brains Brains formally slush pool but I this is why partial day mining doesn't work because they've won a block I started mine at four ended at about nine they hadn't won a block in that period I switched it off so you got nothing I got nothing no and then they started getting blocked after that no that's like curses they saw you come online all that works that's not mine one you can talk about mine in Leia yeah it's a nice topic to come on to but that's does it happen by pools you can get into pools that would just distribute it's not an average look yeah yeah but they would just give you it for get involved yeah I think you can okay but there is a pool out there but it's not I can't make it not participate participation prize isn't it right no is I'm starting to get into mining data a bit more in terms of like a few winning blocks when they're winning blocks how many people are on and then they they also when you we talked about latency last week and it's talking about yeah I share that report yeah yeah I haven't read that yet but it within the within that within the brains OS you can literally pick which region you were in for latency purposes so you're not too far away from I think it was a few years old now but it high level at stage you can get up to four and a half percent more hash rate if you focus on your latency oh okay which is not is is if you've got a massive yeah Farm obviously a good percentage but if you're just small scale then you're not gonna be paying attention nothing still it's still still too early to be yeah yeah definitely but it will get that way what's the heat output like uh moderate they're only like it's running at 850 Watts which is for an S9 it's pretty low okay but it's getting up to like 665 70 degrees but the fan it's like a it's like a nice ambient temperature but by the time it's blown out and it's just my whole so it's not getting really really old it's also not that I've been able to run it for five hours without anyone in my family complaining about the noise so there's oh you can't you've gone there and complaining you can't hear them completely the biggest problem is my kids putting fingers in the fans which is one problem I didn't even think was but it won't be when I move it but I do need in protecting you need because they're literally like need a box you have to tell them don't like don't it'll hurt but it's like you know those fans you get to Wolf right yeah yeah but you can slowly put your hand on yeah and they're like I can hear them doing it like goblins and then you turn your back away and they're all creeping back towards us around they can't resist putting a finger in so that's the biggest issue right now how many hours you had it running then five was yesterday okay five keep an eye on your lucky bill I was gonna say is it not because I understand why I'm doing it yeah but I was also my monitoring my solar panel output at the moment as well so it's foggy this morning I've checked it really foggy and Lexi and it was like running as is as it was yesterday okay so I need to start recording that but I need my data monitoring systems out it's all good Project's still very much dominate in my life did you get some good solar the last three weeks because it was like yeah but it's not really it's not doing out yeah so I've got I've got two of these systems that they're not connected yet but they will be I like your little um I was buying on the renders I'm thinking I need to keep being able to do it the fans happy no one really like the like without a Blue Tick now no one ever sees him no it's like yeah isn't it's just very depressing yeah all that just [ __ ] should we go on to the agenda yeah yeah cool enough about Dave button um the kingdom of Bhutan talking to mining so this just kind of falls on to what we was already talking about last couple of weeks about countries mining uh they're raising 500 million dollars for a hydro powered Bitcoin mining project which obviously on the back of the volcano mine in El Salvador bhutan's perfect place to do it isn't it Himalayan region I was going to say where is it I don't know where it is presume it's him alone region I think it is uh it's safe to assume I think I'm right yes so mountainous watery yep steep drops which isn't more important than actual anything else actually got a quick head drop if you look into any like we did um so you get a lot of power going it's like an airdrop to just explain to people oh so this is a drop between where your water sources and where your generator would be situated so you generate a lot the pressure is in the distance between your water if you've got a small outflow and your generator basically a war for people are trying to understand what's in their head right on that aren't they yeah those are free helping people on the stamina that means I think okay so if you've got a huge outflow like massive dams I don't need a massive drop yeah because they've got a huge outflow but if you've got a smaller outflow you need a bigger drop yeah so if doesn't have much water that's up high so you don't have much water outflow when you did the drops are hard to manipulate because they're actually not we're not actually that high no I mean nothing called doesn't the mountain that we have it's not even a mountainous 2000 feet it does scrape it I thought I thought it got Declassified I thought about four years ago but oh I didn't know that no I didn't remember it being in the news but yeah yeah 2012 feet is it or something yeah some people just been happening let's re-measure it yeah actually I can't remember I I thought I got to Classic sea levels rise it's like it's like that great and then I see that great film about them they're called the man who went up a hill and came down a mountain it's about Welsh town after World War one who had a who had a mountain called it a mountain and then it was officially measured and they called it and it was like no it's a hill but only by a few feet it starts a few grand it's a really emotional I think I've heard that yeah so that's a similar sort of thing to the mountain here I suppose it's very on the edge this is snowfall's 2034 meters and apparently a mountain is clusters any landform that's one at least one thousand feet above its surrounding area but that's not that's open to interpreter it's 2013 above sea level but I don't know what the land around sorry I thought it was two something above sea level and it says most geologists classify them out and as a landform that rises at least one thousand feet or 300 meters or more above its surrounding area but what if you're in the Himalayas yeah that's there's a mountain region yes where everything else doesn't it yeah build the surroundings God Mikey people and drive up the mountain pretty much here so would that is that why the classifier is not because you can drive up it and there's land around no because you can get that you can get a train I'm sure no one cares about manx geography no absolutely I remember being in the news like yeah okay we just carried on calling it yeah it's a mountain in my eyes it's 2034 feet yeah yeah so it's just so 34 feet over what it needs to be sea level's Rising safe that's why it's gone anyway so seeing more countries mining Bitcoin um how are they did they say they're raising but who from just um wild for a country to be raising funds for I don't actually know who you're from that is a good point don't know um but I think it was someone nervous like an IMF special project or is it like a well the volcano bonds wasn't it for El Salvador and doing that I don't even know where the bombs oh we could celebration like literally put a budget together for a project couldn't they yeah that's still a raise they're just Capital allocation for the country won't go on hospitals yeah but do they have that I don't know them as a country yeah yeah and then we're seeing also some of the Middle East as well now some of the countries are looking to start minor as well so I think we'll see more of that over the next couple of months um you know what Renewables do they have uh nuclear was the one that was actually mentioned um it was one of them but they also just have a lot of oil so like everyone's got something I don't think is there ever any other country that's Colorado we've got no renewable whatsoever when you've got always a twin wind water or uh Sun yeah it just might not be as good it might not have actually here for that it's not the optimized location but it's still will work yeah as far as there isn't um I don't know too much about Canada but don't they they've got some of the their majority renewable electricity aren't they so wow Hydro yeah they're big Hydro so is I don't know if there's any miners there's a lot of miners there not so not the country mining but the uh just Bitcoin industry man itself I think block stream's big one yeah oh yeah um it's quite a lot so Bhutan 500 million for a hydrodam and minor sort of setup yeah it seems like a lot of money I think you could do it a lot cheaper than that to like rising from 100 megawatt but you could see like oh old hydroelectrics in France that you could pick up for like less than a mil it's their own thing they're not exporting if that's all important sorry um so you are going to look for what your country has around you like we said before for the other man or wind farm for government built a wind farm for you know 10 20 million and they could do a decent sale okay but I just think government anything government run or just to build something ends up costing 10x what you could do it privately it takes 10 times yeah yeah definitely it's never fun run by the government this kind of thing is it's all part of it usually but anyway I think that's good news good to see more batteries doing it potentially bit of an arms race event with the countries at the minute if this car is on still prefer people as individuals doing it yeah yeah because if the governments can find a way to not subsidize but like kind of distribute that to individuals to have them to participate in some capacity um that would be interesting I don't know how to sell that we're incentivizing people yeah saving in Bitcoin from 100 renewable like you can have your entities from their own if you've got a hydropower thing if you've got the space for the miners and maybe you could go and put your own Miner in there as a resident of the country and then have like a free or a very low cost electricity to do it and stuff maybe incentivize people to mind themselves and do it um yeah would be interesting cool um moving on Apple to d-list or did d-list uh danis um which is the Nostra based IOS app yeah um if people saw that so yeah they got removed uh did they get was it removed or they just they got a new version yeah it's been taught done wasn't it it's not on the store it was oh I don't know it was Damas the main access point foreign Linux [Laughter] it's exactly you don't have to be Pro something but you're being thrilled I'm not pro Apple I just use it by using it you put up on my my ad God yeah yeah you get yourself okay I'm not pro Apple I'm Pro Apple you're Pro app yeah do you not think it's quite slightly grating the charging mechanism and the cut the control of any sort of network oh yeah yeah of course yeah I agree on all that so how do you still be Pro Apple then I'll make you angry it's so motive which is a complete opposite of what Bitcoin is so what are you Pro app all about it's just Superior it's a super nice that's the objective yeah yeah yeah yeah yeah it's all about you yeah and we'll make those sacrifices for the convenience of the ux which is crazy a lot of people will do that and that is just a thing do you think it is a superior yeah might do no they're just because you use persons you've had several so then what you went to Apple and what this is the boy in ux terms yeah and you're willing to sacrifice your fundamental freedoms well I haven't encountered a situation where like an app I use has been the listed yet well that point maybe I would think I don't use them I don't use Nostra but boy also I I made the point like almost goes against the nostril guys getting angry about it goes against everything Nostra is kind of fighting for anyway decentralized aspected but yeah there's a lot of contradictions I think they should take pride that it's been delisted because that's what they're trying to fight against and they're doing something right yeah it's a bit weird what that is Apple is terrible so we'll clarify that but to help clarify you've clarified them yeah the damage thing it's not because it's an astronaut there's like a particular term in the term condition um which highlights it's because they're tipping an individual post an individual tweet should we call it equivalent of what it would be for people unsure or Nostra is on damasus so you're not allowed to do it it goes against the terms conditions Apple because they're not gonna share now if you are tipping an account on there so if you like on Twitter where you can a tip a the account themselves but not the individual tweet from that account then that's okay and that's not against their terms so it's literally it's a tiny little thing in terms and conditions um it's not an attack on Nostra it's not an attack on crypto it's not it's literally this the anchors going against our terms conditions so they've got to change it and so I think there is and Matt miles told about it when they integrated Twitter tips that that same issue came up essentially that's why you can only tip accounts yeah and you can't tip a tweet yeah um because it's against that terms I'm not saying pay for any kind of content unless it goes through their payment system I'm sure I agree it's terrible I'm not yeah I'm not I'm not agreeing with what apples do it's correct but everybody knows that their terms conditions are there and we've known it a lot of the time what you'll find with apple is you might think you put an apple into the App Store and you might think it's um passes all the terms conditions a lot of the time the person that's vetting the application that you put in for the app just skims over stuff deletes a button and goes through we've had it we've had it a number of times in the past where our app on iOS is perfectly in it's perfectly fine it's in it's ticking away we do an update which will block a tiny update with nothing changed and it gets flagged up and we've been flagged up and said like you've got to make these changes or your app's gonna get delisted and it's like you look at the changes it's like well that's been in for the last two years and you've not spotted it it just literally depends on the person that vets the app of what they spot and are aware of in their own terms and conditions of what you're breaking um and we've had I think was it fold uh fold app did the Tweet as well because there's got caught at the same time as Damas almost um for a different the message they got back from Apple uh was to do with they needed to provide the information of the countries they're open to um that they're allowed to operate in them countries via the cryptocurrency side things we've had that exact same message from Apple about a year ago maybe was it now and we had to provide them with some information and then they let us through and it was fine um but it does randomly just get flagged up for things so it's not like I think people yeah radar for a while and then yeah they'll eventually yeah look at the draw of who you get yeah and it's generally it's not that you're doing you might just have a little thing wrong like that or you just need to clarify with them that this is why you're allowed to operate in this country and then they go okay yeah fine thanks and let's just move on because it's not like they're trying to attack I did like the the kind of spin of people were saying I think Mutiny um came up didn't it because that's a what you call Progressive web app so it's a website that can it feels native on your phone to use as an app so obviously um there's no way Apple can stop those kind of applications so move towards like Progressive web apps was interesting Android you can obviously push an APK out and release that elsewhere and doesn't have to go through the Play Store and so you can do that whereas I wish can't do that and because you know it's controlled and noted and I wonder if they'll ever get regular to have to don't have to let them yeah because they lost the whole USBC thing recently and the NFC one recently yeah a year ago wasn't it there actually stuff um so they are getting this kind of trying to prevent random Monopoly which is kind of what they have on on that so yeah but it's a monopoly on their own system isn't it yeah how's that play it still is a yeah it's massively stuff it's like Google Google have that on the search engine side only like that a few times with what they can and can't do and things but like they have to use USBC charges now they can't use their own Apple oh they lost that yeah so the next iPhone should have a USBC so I think with with Google is it Google's one yeah it's good Google lost the case because they're not allowed to put like they're also in a Google search ranking they're not allowed to move Google they're on Google probably that's along the ranking because they're Googles where you would think well the search engines are the problems we want to list ourselves at the top we can do but they're not allowed to and so they do all sorts of things like that to prevent kind of a monopoly I guess yeah so yeah so the resolution for it was they can be allowed back on the store if they just move it to account tipping wasn't it yeah yeah which I think they're doing like William said he was doing it it would be silly not to I think for that and he's just yeah iOS and just can't you can only it's better to be on the iOS than not be on it yeah do they give us any sort of warning when you do this so is it is it like right you're off now until they change it and then I'll just go right you can change that otherwise I'll have to take you off I think we had like four weeks to produce right on before you were um before we do listed I think yeah right um ours wasn't like they just randomly sent us it because they did just look at the app when you do an update so we did an update and then we got flagged and you're in the update and then they said yeah we had four weeks to correct it before it was delisted so we had to just give them information within that time and so there was kind of something depend on maybe well that's quite nice of them uh it depends how strict it is if it's like a really bad one and they assume they just yeah straight honestly straight away I don't answer don't know yeah it sounded pretty abrupt then from when they came out I mean break in their terms and conditions so maybe they do they listen straight away whereas ours was like they taught clarification of are we allowed to operate in this country I'm still quite surprised that Nostra has got the hype around it that it does I thought it was going to be a I think that's significantly more users than I thought I can't remember what the number is Maggie hard part of that though is how many of them are legit against oh yeah I saw how many Bots were already cracking up on those yeah chaos every time you put some on it was bought off the bot um so because it can be just Auto generated and there's no modulation as these Bots you could end up with 10 billion users but there's not 10 billion people in the world it's just because there's a ton of bots in there so it's hard to say how many years to veriforms did any other industry get behind it you know because a lot of bitcoiners went to it was there any other like adult things I don't know three that's come over I think a lot of people from Bitcoin actually come back to Twitter as well you just don't get there I never really left it they this week yeah and then came back no it's like nostril ranges between seven seven and nine thousand daily active users yeah it's not much 20 000 weekly active users yeah I mean it's a sort of platform you're either using daily or you're not using it isn't it I mean most of our Twitter we're all using daily I presume we're all logging on at least yeah yeah checking all those notifications and all this I still think Nostra has a place outside are they not friend requests I'm still saying I still think nostril probably has a place outside of social media just something else it's not just social media if you can't remember that well it was never developers yeah anyway cool so we all ate apple you agree Pro Apple yeah three to two in this room I guess right you can use you don't have to use you wouldn't use uh like on on depends what we're talking mobile we're talking desktop are we talking what um so it depends on what you're talking I guess should be writing your own operating systems from the itself really if you're a bitcoiner no I agree with all the cons against Apple but for me personally it's the convenience is worth it right now yeah I don't I just don't get it is though as well Android is not X if you've got like a say a pixel I had a pixel it was great but then the Google iPhones phone going alongside it's very similar to what you're talking there on iPhone along the iOS they do work seamlessly and quite well um and you can then still you're not promoted into this structure of iOS I've never had one I've never had an Apple phone you don't no one else they don't own it exactly the other day that in the news about the yeah what there's something else in the terms you know do you remember um just pop is it uh what's it called um Bruce Willis was it I think oh no it's the songs I heard the songs yeah the iTunes so you don't actually own them once you die all the songs you paid for and downloaded and everything else you just if that's releasing yeah yeah and I think I don't know if there's some I saw a very brief bit of it to do with the phone itself I don't know from their terms you actually don't own it yeah but you can there's a secondary market for them you can't sell them okay he couldn't like because readers couldn't then sell these legally you're not allowed to you know I think there was something in it where I only saw it very briefly on lots of detail of it but yeah I wouldn't put it past them yeah I wouldn't that's it yeah I think we just said the other day let's just agree to disagree that you know everybody I know but they said they pretend to be like Freedom loving like one of the like earliest Mac adverts or so a play on the 1984 uh book yeah and there was a lot about breaking down this establishment but but that's just trying to know their worth so it's just like this is what the brand is trying to be is completely contradictory to how they run their business and which makes me feel physically sick when I see an eye store privacy wise they're pretty good on privacy was which you wouldn't think only only privacy against other companies that have apps on there are against themselves or they get access to everything oh yeah yeah well actually no no no actually no they don't they say they don't but they do they have a back door and so everything well yeah that's not let's not be something show me the back door then no I don't have access to it so how do you know yeah so here you go Danny uh you own the iPhone device Apple cannot retain ownership or control your iPhone device uh you can do whatever you please with the hardware however iOS the operating system that's used in the iPhone is licensed to you therefore you can't you do not own your copy of iOS because it's not sold to you yeah so you can't sell the phone if it has the software I guess you've got a I guess yeah before you actually sell it otherwise it's illegal see do you remember Casey neistat's the first viral video was about the iPod and the fact that he bought one and that the battery was getting worse and worse and worse and then they said oh you just need a new you need a new iPod and he's like what they've just spazzes and then in the end it was like oh no they only had like a battery that would survive for like 18 years recently yeah of course for deliberately slowing stuff yeah I'm sure all the manufacturers do it though I know Android that's the Wild Thing mobile phones that's gone away is madness yeah what do you think you should bring back the numbers lithium replace it all right yeah no it wasn't that well it used to be easy anyway easy accessible to replace the battery should we go back to your channel president of Kenya encouraging African nations to dump the US dollar for trade hello which we've seen and we've told them about a while back um and yeah now he did a whole speech didn't he on basically getting Africa to dump the dollar uh which is is pretty ballsy of him he's new into make some enemies that way um I mean yeah if you'll get historically what happens when people come out and say this was Presidents of African countries speaking I don't want to say it well yeah assassinated um so yeah definitely interesting to keep an eye on that and see where that plays uh it kind of goes in with sort of gold bricks yeah that's all sad what they're trying to do do you know brix's GDP over took the G7 yeah that's wild but there's more there's a lot more countries in it isn't it in comparison to the G7 thing no you sure bricks is only five no I'm more people try to join now but I thought before the break like just spell others yeah Russia China South Africa yeah but I thought there was loads of Brazil Russia India China South Africa is it no more um I was looking at I was only there at gdps against g7s what's with all the recent applications to go into it create another one lost track yeah I think countries are one agility yeah I remember I don't know how that I think it was last week it was up to like 18 countries now applied but I think if I started accepting anything won't work very well looking for an L go to the bricks disease it's full alphabet I thought that was quite a significant um happening so why is this Canyon guy said that they should abundant the dollar and use one instead the canyon which is Shilling the and I don't think he's saying to use the Kenyan Shilling for trade it's uh what was it not he's just trying to promote them using their own currencies for trade I suppose having to convert to dollar to then do trade I'm using local currencies between okay yeah which yeah or this is where it points to eventually you know why not use uh people always forget that if you do have any dollar denomination that it does lead back to eventually an American Bank that can control yeah but if you have Bitcoin as the trade currency all of a sudden you're not giving any other country the power or removing your controller your password it does really genuinely make sense to start using Bitcoin for trade I just hope these kind of talks and announcements are not precursors to cbdc's for all these countries no they're yeah we've seen a bit of that haven't we already um but I don't know if they're all just jumping on the Bama levels hitting the US and attacking the US in some way so just jump on the bar Morgan and make it look like a political play like where supporting these things don't know keep an eye on interesting to watch we'll keep bringing up as uh things progress Brazil president signing in law for central banks to regulate crypto firms so not a whole lot to say on this one really unless someone else has got comments but it was just again another um Country Now bringing in regulation for crypto so we still have any regulation use the central bank to regulate Financial firms they don't have Independence like they have FSA FCA no because you just think like okay that's not good for Bitcoin obviously how you regulating the the people regulating you yeah basically you're trying to replace yeah a little bit Yeah so obviously it's not going to be an advantage for a Bitcoin for that to be happening yeah I think a lot of the combinations as well the only thing they might have some of them are now starting to have their own regulator for a particular um really hard to maintain the independence of a regulator like it that leads onto some of the sex stuff about who those people are working for and what companies they're involved with or ex-employes of the second involved with like Terror intertwined aren't they in all these Financial systems are who works for who and who regulates who and they used to know this is still like an old boy Network both on a national level yeah something that I always find quite repulsive as well I mean there's what was it when you think big boys club was it the other day I saw um Nvidia and AMD the obviously two big sort of Chip making companies the two CEOs are them cousins I think are they um so the two competing companies uh see yeah but they're friendly cousins like I don't know that's back in the days yeah no brothers weren't they yeah well that's spot often that people came off the back of Adidas um but yeah it's you do notice that a line in some Converse like a big boys club sort of style thing isn't it are they actually working together or are they actually really competitive yeah it's just you'd never get away from it it's like nepotism yeah um cool moving on so I guess more interesting ones at the minute now the BlackRock and Fidelity now as well news so we saw some reported news about um BlackRock Bank of America and fidelity the news were reporting it as they're buying record amounts of Bitcoin which is just lies they're not buying Bitcoin they're buying they were buying microstrategy shares so getting exposure to I guess a company that has Bitcoin um so they were having I guess exposure to bitcoin is maybe the best way to turn it what's microstructive share price done has it just been rocketing up not sure actually um oh Mike is finding that so they were doing that and over the last it's been the last four or five months now I think could be and then BlackRock have kind of announced they were doing a uh Bitcoin ETF which definition I will come back to um and then Fidelity now we've just it's kind of coming out that looks like they're going to be doing a pushing forwards for a Bitcoin ETF as well as well as potentially putting an offer in to buy grayscale um which I assume then they'll try and convert grayscale into an ETF which is what graciel have been trying to do for many years and not successfully um but I've been up and successful because the SEC well along oh okay interesting the honest answer is it looks like it's just the SEC been strangling it for for what to maybe Fidelity to come along the bigger boys a Fidelity yeah I love the big Banks approval rating with the secs and like 98 I would say black was won the vat phase yeah like 200 or something I don't think I think there'd be Anderson BlackRock couldn't do in terms of the the power and the power and the power the asset holding the influence they have they could literally which is scary to think about it so yeah this is beautiful this is part of the problem yeah I've rolled that down that do we need them and all I don't start and say Matt do we need them do we want institutions like this do we need them for Bitcoin do we want them um because that's a big thing for me to work okay like you're saying short term it could be bullish for the prices yeah um but the reality is for Bitcoin to succeed and for Bitcoin to work for what this is as well from an ETF perspective it's kind of done me wrong it's going to be like institutional level um companies uh say public companies and things like that put Bitcoin on the balance sheet much easier um in a theoretically secure I don't want to use secure but secure Mana um or a more correct structure that allows for their regulatory sort of remit um did you read that Alan Farrington article I said I've only seen it I've not fully read it oh it looked like a heavy I think Molly sneezes on every place by the way I think I do I was supposed to just sitting around this season actually she's allergic to [ __ ] you could play literally okay yeah no everything is about similar sort of time every time yeah but like Alan Farrington I like I quite like it's writing style if you read Bitcoin in Venice it's quite no there's a rhythm to it it's quite interesting but he's literally gone through and read the all these trust and fund acts from the 949 30 act I've seen why they've applied for the 1931 so this is Black Friday specifically because it's slightly less regulated than the Knight 41 yeah stipulations of why you can apply for that one it's an interesting article I would recommend it maybe we could link it in so it does explain all this argument quite um nicely in a nice style but also he's he mentions the fact that that it could be bullish for the price initially um with a lot of new money coming in that couldn't might have been restricted before but then he's he looks at the the bottleneck the throttles that could be in place of of BlackRock owning potentially so much Bitcoin which is why pay for Bitcoin yeah no yeah they also I don't know if it mentions in the article but I saw the snippet in there where they talk about the heart the hard-fought stuff yeah yeah it goes about that yeah right okay yeah so it's the the the hard folk being that in in the terms of the BlackRock agreement they say that they can choose if Bitcoin hard Forks which one which chain to follow and it might not be the one with the most value yeah so they could go like you guys over this one we're gonna keep this yeah Bitcoin cash stuff doesn't it right this is more this we see this is more beneficial as Bingham block faster bloody bloody we think this one and then they just pivot everyone and they don't have a choice they just all go into that one yeah so them companies that own chairs that will want that particular Bitcoin to be the dominant one and the winner in that respect but the rest of the world like we saw with the uh block size Wars all the time you see the big corporations push for that but the big corporations at that time were Bitcoin it was industry companies industry yeah we're not big at the time yeah now this would be another level and it really test the result but this would be all custody that probably coinbase coinbase so is back at the time bit girl yeah they were all they were the big players still at the time for custody of most of the Bitcoin stuff and all the miners wanted to go bigger blocks because it made them more money um so you add at one point I think it was like in the 80 or whatever it was the miners that all wanted to go hard fork and go to bigger blocks as did coinbase and all the big players and it was the the plebs on the ground I guess and the um the proper Bitcoin that forced it back the other way but so it's not a potential problem that we haven't faced before on another level isn't it potentially bigger scale um and yeah how that plays out if it plays out yeah yeah it's very much it's probably Doom and Gloom at that yeah Viewpoint isn't it yeah maybe you think actually people have got a better knowledge why Bitcoin has this well you'd have the history to go off to show people you know the bigger blocks well bsp is there Bitcoin cash is there however many others have gone within the blocks to try and solve scaling problems um no well you've got that to show them just because they've not learned not listened when the argument comes up you can say right here's all our arguments because we've already been through this so you push it back on as your ammunition I guess to why not to go doing what you're thinking of doing about no was that the last hard fork or has there been any since uh that was the only yeah there's been so you could do it theoretical one since there was like a Bitcoin Garden I think over a couple of year periods there's all sorts of crazy ones but actual yeah proper hard Forks it was really just kind of that which created bitcoin cash and then Bitcoin cash put into Bitcoin has been bit sir um yeah nothing sense uh there will have to be one though um at some point in the next 70 years many years away it is um to fix a particular issue someone should probably be looking at that yeah I think we always accuse those politicians of short-term time Horizons yeah we've got one on our own hands and we're just like no yeah it's not our problem next Generation because it has to be a hard Fork I think that's the thing with it it needs to be everyone I think everyone's waiting for someone to figure out how it doesn't have to be a hard floor that's the solution yeah looking for someone Peter will come along come on you can do it do you think there'll be a lot of uptake for this to Blackrock ETF uh from the big institutions I assume so yeah yeah I think that'll be um and theoretically it should be one to one bats unless you've seen anything different I don't know should be one-to-one bats for the Bitcoin is it Bitcoin only or is it it's like the grace to kill when I was a bunch yeah BlackRock is Bitcoin only as far as I'm aware um the I assume they'll do that because well for one the SEC at the minute they're not gonna yeah anything else to set Bitcoin so that's the only thing they've said is is the commodity um Fidelity it looks like they're going for a Bitcoin ETF as well but they're also trying to buy grayscale but grayscale obviously yes has ethereum and all of others in there um I wonder if they'll get rid of that well I I wonder if they'll just whether they either get rid of the other roles but or to keep that going and then they'll turn the Bitcoin one into an ETF maybe I don't know I don't know how those should drill um what to wait and see uh but yeah it looks like it's going to be Bitcoin only for the most part of ETFs good granted if it's not an ETF because that's what I'll understand it's a it's a fund box it's a small trust sorry yeah um but yeah in theory it's a it's setting ETF in a roundabout way in some ways yeah I mean his article does explain the difference between them yeah I've read it and I'm still not a clue it's the redeemable pieces main piece that you're in a trust you can't redeem or I was like the grayscale one you can't sell it or yeah whereas this one is a redeemable one a redeemable one with the approval of BlackRock so they can decide on whether you're allowed to redeem it so it's that's the stipulation in the um which kind of theoretically makes it operationally like uh ETF would be so that's why you in theory would call an ECF um do we need them what's the other option for institutional adoption of Bitcoin if this makes it easier for them like the ux are self-custing for institutions isn't well that's what Allen's point is what he's trying to get to though so people will bang that drone saying do we need them but we can just do themselves well they can um most of them don't want to because they don't understand how to do it but actually we could offer better products to do that it doesn't have to do BlackRock doing that it doesn't have to be it really it's just going to be held in coinbase custom issues so yeah it's already there coinbase is already doing it so they're not technically there's no difference between some one of these guys going and buying at coinbase as opposed to buying from the CCF in BlackRock technically so it's Bitcoin on your balance sheet versus a uh holding within an ETF so I know them from a regulatory point of view of public companies and Reporting and accounting purposes and everything is probably simpler so yeah the Black Rock angle um but from a Bitcoin operational technical perspective it's exactly the same theoretically in the background so yeah I don't know um yeah does it like um let's just the fact that BlackRock got this ETF and the good like they're in such harmony with the government yeah well it's just been trying to get ETFs through for the last year seven years or something now and it's constantly getting rejected and then the last one was rejected because there was no um reliable company to hold the the bitco like coinbase for example there was no version of coin layers to hold it in a reliable manner or something it was rejected for a ridiculous reason like that which now BlackRock pointed through with the exact same setup almost as far as I'm aware so it's kind of like if they prove this one yeah then it's like well why didn't you improve the one before do you think there's any issue with that because it's coinbase custody the SEC are currently suing them can they approve them as a custodian of a Bitcoin ETF so many contradictions in so many so I have to reject it just on those grounds yeah that is ridiculous conflicts yeah yeah it's a mess but yeah it's the SEC Unfortunately they always deal with the officer what you think they're gonna do they've created this mess almost themselves in some ways so that God knows so I see a game projected just from that point of view but because it's Black Rock you kind of but that's the thing then if it gets approved I'm thinking well why do you prove that and you didn't approve the one before because it's Black Rock it's almost identical yeah it's like it's just crazy um so I don't know honestly do not know um I think that's why people are saying the point through is a trust rather than a proper official formalized ETF because it will be it'll go through in that capacity yeah I think I don't know why I don't understand why they details of that but there seems to be a but if we were to disregard all the suspicion around BlackRock and what potentially the problems it might cause it's still in the timeline of Bitcoin growth a good thing it's a big thing yeah I don't know if it's all right maybe yeah maybe that's two black and white to say good or bad but but it's definitely a milestone it's a milestone it's a big milestone yeah it's definitely massive but I don't know if that's a good thing or a bad thing if uh in the past five days since this news com has come out microstrategy have gained five point eleven percent of the stock price big okay so that's got quite a steady rate it wasn't just a spike it's just steadily five percent a day we only just found out they were buying microstrategy shares I mean I think it could have been usually could have just gone a lot that's what I was about to ask surely you can just go look because yeah but it depends if they hit any thresholds or broke any certain I assume they bought a big chunk I've never been by another month I think yeah the percentages are actually quite are quite significant you would have thought someone keeping an eye on it would have seen it maybe they have been just putting but now they're just something picking up it was all it was BlackRock Bank of America and Fidelity buying it so it was like ears and then Fidelity both come out with this and then I assume Bank of America with a Savvy and aware of that or the maybe they've got something here as well I don't know apparently thinks Sailors had this in his plans all the time AP because these are basically yeah that's what his company is that's what he went in already tried to orange pill these same companies didn't he with the whole Institute Bitcoin for institutions and stuff it's exactly what he was trying to do Bitcoin on the balance sheet and he was doing that what two years ago now when he started that and did the first one yeah well it could be Bitcoin or new balance sheet or or microstrategy shares on your balance sheet book this equivalency this eating out these things that he's pushing for is for big public companies to get a Bitcoin on your balance sheet and he's trying to help guide that so this is definitely a whole part um play so if it all goes badly wrong and BlackRock end up with too much control we can blame Michaels attitude getting corporations Bitcoin and the balance sheet there you go if number goes up as opposed to what success to people is different everyone else has different visions of what successful Bitcoin looks like so depends what you're in Bitcoin for us yeah Freedom element you know you want it to be the the global Reserve currency in my head and that that quite that what we're saying before about the trade between countries not using US dollar anymore and they're about using the local currencies use Bitcoin for me that starts to be seen success when it's being used for trade um and used for payments um I appreciate number Google obviously is it it 100 is one of the most popular reasons as to why people become big oh God we know that so our signups rocket when price goes up yeah um but you get a portion of them that stay for more of the traditional Bitcoin that's what I like to think uh philosophy whereas the you do always have a big portion that's still there just for the price yeah so I don't know I don't know what success looks like whether what good or bad story looks like with this um number goes up but massively controls technically I would say that's bad but some people would argue that's good because number's gone up so yeah everyone's Visions will be different okay okay that was an interesting philosophical chat yeah is that the end of the agenda it can go quite deep though uh one more um uh wire um crypto payments platform wire shutting down ah um sight in a bear market conditions I think they are like you know yeah no I know the guys no but you know it's just a bit no it's always sad one September just gone they were being acquired for 1.5 billion dollars by bolt was it um which then all fell through and then slowly everything fell to pieces and then now they're just shutting up shuffling disco so it's like you gotta feel sorry for these guys no well it depends what were they saying like how yeah like why'd it fall through no I always just thinking people's jobs isn't it it's not necessarily like I don't know how many staff they have for them but you know people's jobs it is of course yeah it's a shame in people's jobs and you don't want that to happen these companies in the industry that's disappearing like there's been a few recently that have come out and said they're sure yeah how many like I think Dave's got a point for me on that that's what I've had in my head like how much of their whole business was just lies [ __ ] I mean because they've got from a 1.5 billion dollar company to literally just shutting down because they're running out of funds yeah within a nine month period it's just hot air functioning there was just to get sold yeah that's not why you wrote a business you're passionate about is it so there is questions I'm just an empath you know they're shutting down now so it's irrelevant but it would be interesting to know how they were valued at that value even in September because that was still bear period um it's similar to we've spoke to a lot of companies over time as well that are a year ago to 18 months ago maybe 18 months ago they were valuing themselves at like ridiculous amounts um because they had like FTX was saying oh yeah well we'll acquire you for tens of millions and stuff I think realistically they're worth the days of those startups that are a few months old getting billion pound valuations just because they've got a nice app idea surely are over well I'm hoping people are seeing sense well no offense like battle pay we know bottle pay I think publicly they said 180 million dollars they got acquired by and then they show up so they got acquired by neither didn't they for I think it was 180 million there was the public figure um but they didn't actually you know it's again it's a as any money changed hands um is it just the shares within they've got shares within naidig and so on so it's not necessarily what it always looks like on the surface um and there was another one as well the oh um Ziggler um same thing Robin Hood was trying to buy him a peak uh bull market for was it 100 million as well 170 million essentially and then that so they'd crowdfunding though as well so their last valuation on the crowdfunding platform was like 92 million was it and then they were getting acquire of like 100 million so it looks really good and then that slowly dwindled down to about 50 million acquisition and then that position it must be massive Revenue multipliers to come up with those numbers yes I don't know what's worse like yeah value in your company or a company thinking yeah I'll tell you for that I'll tell you what's worse thinking you've sold a company for that amount being in the boardroom and when that rug ball comes through must be one of the most devastating things it is horrible well you just only agree with dashed because you think you've made it but there's so many of them that are just overly overvaluated these sort of things and they're not really worth that and then eventually long run shows you which ones are worth and which ones are not we did you have were you googling stats uh yeah so I've got what I've got um ballpayer required for 300 million oh yeah but neither can win and Robin Hood originally agreed to acquire ziggly for 170 million but then cut it to a 72.5 and that never went ahead in the end it got scrapped off I didn't know because yeah no it all disappeared and all that scrapped off and then they've just raised and crowdfall I think some more money is it like a million dollars or something um so again yeah it's just never what it seems yeah it's just unhealthy for companies I can see why a lot of people do it but like it's just huge distractions isn't it what's the common good really who's winning now it's not because it's not really the customer no unless you can get take some of that funding and develop nice new products or nice new ux it's not funding that's no yeah exactly but actually most of these companies are acquiring and using their own Equity their own stock which so no cash ever no changes hands at which point no one has cash anywhere there so it's just and also the being acquired by this stock that has also a made-up value yeah because they're not public companies generally they're still private so you're making up a valuation for yourself and saying yeah we could say we're worth a billion dollars but we're gonna go on high we'll we'll buy you for 10 million but we're worth you're gonna take all our Equity 10 million dollars in equity no cash and we're worth a billion dollars so you're getting one percent of the company um so it's like that's hot literally how it's playing out yeah I swear I've seen something on like a YouTube short or somewhere where someone at one point had the most expensive company in the world because he that he created a company that had a lot of hundreds of thousands of share issuements that's great and then sold one to get a person on the street for a quid he theoretically gave all the other shares the same value and it was like hundreds of billions of pounds so it's for briefly yeah his company was the most valuable I was in the UK it wasn't it was it I think they then threatened him with fifth day it got like six to six you need to stop doing this stop operations like this is what you're doing is like Market manipulation essentially yeah but if it's a private company it's not irrelevant otherwise I don't know enough around it in terms of who was doing it or why I was doing it but it's quite a good demonstration of what we're talking about yeah that is quite good actually yeah it's a good way to get PR yeah um but yeah a lot of the private companies that's offensive but yeah how they've how they've played out right we've got any good corn Corner News are we going to talk about well the annual car and Molly try to kill me Alec tried to kill me safe and uh Records yeah all the more land speed record for a guy my weight that cat that go-kart cannot be driven any faster around that car track you were trying to kill a lot of people I didn't even see you on that race at all yeah physically knocked me off the course which I thought was a bit me Molly cut across me so I was just like you know those police pit Maneuvers where you just yeah she was gone and I was like it says you like me but then I thought you were like yeah because she's so much lighter than me in the same power vehicle that's not that much of an advantage thing oh my God are you saying the power to rate ratio doesn't count in race it's a bit away on the track to be actually it changes the handling if you yeah the heavier you are then more that's why you spell me out so you guys make yourself look like idiots because it's the most important thing out there I I don't the light I was well ahead of you I was so far away I definitely do you're probably about once one Milestone more than me I reckon get out of town Matt played the the best card in the in there by he picked the winning card from the previous yeah that's the next level because I'm jumping that straight away yeah he did so he how did he know it's like it was on the screen when you walk in so he clocked that and it's all right like homework on all this for how to work is ridiculously fast and when he left he's heavier isn't that how heavy is how heavy is Mark compared to you and you're saying wait is everything is tall when that when Matt lapped me he fist bumped me around the corner that's the ultimate degradation he's actually sliding past me put on things that fist bump me and I'm like racing as hard as I can and he's cruising so angry when he did that um yeah it was a good form it was good fun um I like my company Traditions yeah it's important I didn't have you downers no is it like it's it's it knows it's it kind of instills the ethos from the history if you've already done it and it's nice to keep doing it he just doesn't like it four times how are we going to do it I don't know how do we like to do heat a couple of race yeah a couple of races yeah yeah of course now but yeah yeah we can just get on at the minute I'll do it then when I started like I was lost by Miles because it was full of fast people and there wasn't that many employees and I literally just didn't see anyone doing they just get a lap all the time and now I'm at the back of there's a good way to good battles at the back there's race like tight racing all the way through the front that wasn't so the front it was just like yeah definitely crashes they might just Gap them eventually yeah the only crashes happened at the front was when we were lapping you that's when we crashed because you were getting away you know what I only met allowed buddy I was pretty I was pretty good no we all I do no you didn't if matlabs were we did no Matt was first yeah no but there was like four of us right the front all the way through no and you didn't like me well if Matt actually must have had a gap on you no matter like a two second gap on everyone yeah two seconds on that is nothing so it depends when did Matlab you right and it's literally right at the end lasting corner hello the warm-up thing the 15 minute warm-up Rose video the whole race yeah oh Matt when did you fist bump Dave whilst going past him we've got video of it we're laps at the back there was like was it I think it was a very last lap because I'd just given up anyway anyway nice tradition Grace it's good fun it's in it's a bit scary yeah I was proud of course your bubble came out you're going that fast your bubble camera Molly overtook me whilst doing her hair that was so annoying as well she was tucking it back up there [Laughter] I'm talking into a streamlined position but the weight is just nice you see that with Matt as well because he took so Matt races for people I don't know anyway like uh bikes um he's very and F1 sort of stuff he's very into so he is like tactical on everything in the corners and when you see him he's like that crunch it up it pays off though he's the fastest um it's good fun good film good fun good news we've got jobs out yep seven new jobs I think we said that last week didn't we but they're actually live now yep which is good exciting um applied not the new starter today yep one just today just one so two more to come in a couple of weeks and then 71 are we saying anyone interested in the company or Bitcoin should just apply yeah ideally we won't relocate if people are in the UK we do want a location for nice Parks we want to try and get we're an in-house team people know people are all going to that back to that anyway it's in office it works the amount the amount of companies that are actually going back to in office hybrid as well yeah a few days yeah yeah yeah um in our cool new office coming soon soon hopefully uh cool do we want to leave the merch until next month next week sorry sure um bringing back Merchant of the months well not not much in the month like what we were doing with the products and stuff okay oh I just mentioning you shout out yeah cool merch and sign ups cool merchandise I do have one there but we're just wanting to shoot to fact jacket yeah do a few bits on that first but yeah cool so none this week then let's go that's right cool nothing else is huh no no nothing exciting coming up in the coin car in the world there is but I can't talk about at the moment oh yeah yeah but the wheels the wheels are in motion there's three three very good one with three very good ones I've got looking forward to it there we go two weeks two we can't really talk about one uh new design oh yeah Rebrand oh come on what do people care about rebranders you'd be surprised oh I care that's not news Dave disapproves oh well yeah so you'll be excited by the other two okay I'll be excited about something then yeah cool all good then all right guys cheers guys thanks guys [Music] thank you