Tether Bringing USDT to Bitcoin Lightning | Britcoiners by CoinCorner #157

Transcript

"You also think they have more weight than MIT? That angers me-that sort of thing. Who would Gemini be to say, 'We're not hiring someone from MIT because Gary's there'? You pathetic little children."

"Welcome back! I'm not Molly. Britcoiners 157, just in case anyone couldn't clarify that."

"Yeah, Britcoiners 157."

"Agenda today: Senator Lummis and her comments on the Czech National Bank; the Fed on the rates; the ECB chief Lagarde and her comments around Bitcoin; more Czech National Bank stuff and their actual announcement; Tether on Lightning-exciting; Gemini and their hiring policies, or rather their comments about Gary Gensler and who they will hire; Ross Ulbricht having some fun on pump.fun; Trump tariffing everyone; and then some Jump Trading stuff."

"Great. Out of 10, what was that? Was that good compared to Molly's agenda? Who needs Molly, right?"

"Well, great reading, thank you."

"Oh, Bitcoin price-too soon? The live price: 95.7. Last episode's price: 102.4."

"Nice, is it? I don't know."

"Well, not really, is it, Dave?"

"Why would you say that?"

"Well, it's nice enough, isn't it?"

"I think it's impressive. Managed to buy a bit of the dip-that was all right, I think."

"So, for everyone's understanding-we'll probably come on to it in a bit-but yesterday, Sunday, saw $2.1 billion in liquidations, which is the biggest ever in the crypto space. That surpasses FTX, surpasses Celsius, Luna... and nothing was happening, I presume?"

"All right, I think we might disagree slightly as to why."

"Yeah, but I have information about my thought process."

"I have information as well."

"So, if the open market in America is opening down in terms of-"

"And the Asian market, I presume, is down as well?"

"100%. It's all just Trump tariff news."

"The old adage that Bitcoin trades 24/7/365 is not just an indicator of Bitcoin itself, but also the global markets."

"So, if you look-when was the Trump announcement?"

"Friday night."

"The price was already on its way down."

"Yeah, it had been up here."

"So what was the price at the time of the announcement?"

"That was the dip for the announcement. There it is."

"Yeah, but what are you expecting-an immediate crash?"

"So what was it at? 104?"

"And it's dropped to 95 since the announcement?"

"Yeah, but it didn't happen on Friday night."

"Friday night, we were still above 101, 102."

"Well, it seems like it's gone... actually, there was a fast spike down Friday night."

"Are you saying there's nothing to it?"

"Nothing related?"

"Nope, I'm saying there's more to it. It's not just the tariffs."

"We'll come on to it."

"Come on to it, surely."

"Right, why don't we come on to it now?"

"Tease."

"No, no, you tease them so they have to listen to the rest of the-"

"It's just annoying not knowing what he's on about."

"Okay, first news agenda then."

"We're not talking about the price-what are we on first?"

"See, you've got to control this."

"Molly's not here, you can't just put the mic-"

"She usually just does it from here. Like, moves us on."

"Right, first topic."

"Yeah, so this-we talked last week about the Czech Central Bank having a vote on the whole Bitcoin thing."

"And turns out, it got approved."

"But it wasn't actually a vote on buying Bitcoin-it was a vote on looking at investing in other assets, including Bitcoin."

"It didn't mention Bitcoin, didn't mention any assets."

"But it's assets outside of stocks and shares."

"Yeah, who mentioned Bitcoin?"

"Was it the chancellor of the bank?"

"He's the head of the bank."

"The chancellor said no."

"Yeah, it was the chancellor of finance, whatever that is-the finance department."

"The head of the bank had an interview with the FT, and he was the one who mentioned Bitcoin in the whole..."

"Yeah, 5% investment."

"So, I think he needed this initial vote to go over first before he could propose that, okay?"

"By the sounds of it, yeah."

"So, they still might be investing, they're just-this was just step one."

"And it's got to have been Bitcoin-slash-crypto that's kind of caused this vote to happen in the first place, right?"

"Yeah, I don't know."

"Well, it wasn't for what-real assets? You know, gold?"

"I mean, gold's been around for..."

"Yeah, you'd think they'd already have figured out if they could invest in gold or not."

"True."

"It is at an all-time high, is it not? The gold price?"

"It is, actually, yeah."

"So maybe they're just thinking-"

"Actually, we can't-"

"Market stability has gone out the window with the Trump administration because he-"

"I assume, no-"

"Sorry, a national central bank surely already has a policy on whether they can buy gold or not?"

"You would imagine so."

"I don't know."

"We could Google it."

"We could."

"So you think it's all been triggered so they can get Bitcoin?"

"Yeah, hopefully."

"Okay, why do you think it's not?"

"I don't know."

"I think because sometimes hope blinds you a little bit."

"Yeah, we're talking about Bitcoin, but he said he wants to do the Bitcoin thing the day before."

"Yeah."

"I'm pretty confident that would be enough to say it's about Bitcoin."

"Okay."

"I think, like Zach says, if it's about any other asset, why haven't they done this decades ago?"

"Well, it's a relatively new country, Czech Republic."

"Maybe they just haven't had the-"

"It's not exactly that new, is it?"

"We're talking decades and decades."

"Maybe they just haven't had the infrastructure in place."

"Like, the euro's a relatively new thing."

"I'm clutching."

"You are."

"But I don't know."

"There's an effort, yeah."

"Before the-"

"I don't think we can just assume that Bitcoin is the driving force."

"I think we can 100%."

"The proof will literally be in the pudding."

"To buy it."

"He's gone and done an interview and said they want to buy Bitcoin."

"That's surely enough proof to prove it's all about Bitcoin."

"Mhm."

"Well, let's see."

"You're right in the fact that there's still one more vote to go, essentially."

"He now has to propose it again."

"But this is part of the process."

"Part of the process."

"The process has only been triggered because of Bitcoin."

"Yeah..."